XML 54 R38.htm IDEA: XBRL DOCUMENT v3.8.0.1
Operating Segments and Related Information (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Operating Segment Information
Operating segment information is as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Revenue—External Customers:
 
 
 
 
 
 
 
Surveillance
$
146,805

 
$
136,402

 
$
394,742

 
$
373,993

Instruments
91,429

 
82,673

 
255,253

 
240,160

Security
65,660

 
56,431

 
160,447

 
166,872

OEM & Emerging Markets
87,206

 
62,719

 
259,418

 
167,544

Maritime
42,256

 
40,586

 
145,909

 
147,469

Detection
31,356
 
26,417
 
89,881
 
91,391
 
$
464,712

 
$
405,228

 
$
1,305,650

 
$
1,187,429

Revenue—Intersegments:
 
 
 
 
 
 
 
Surveillance
$
10,115

 
$
5,001

 
$
18,203

 
$
13,980

Instruments
929

 
709

 
2,916

 
3,498

Security
2,931

 
4,267

 
9,697

 
10,575

OEM & Emerging Markets
11,456

 
7,518

 
29,986

 
24,528

Maritime
567

 
656

 
1,865

 
2,728

Detection
2

 

 
3

 
31

Eliminations
(26,000
)
 
(18,151
)
 
(62,670
)
 
(55,340
)
 
$

 
$

 
$

 
$

Segment operating income:
 
 
 
 
 
 
 
Surveillance
$
44,941

 
$
41,428

 
$
104,313

 
$
103,888

Instruments
29,603

 
27,578

 
74,376

 
67,254

Security
6,486

 
4,784

 
8,090

 
7,025

OEM & Emerging Markets
26,931

 
20,658

 
77,628

 
48,100

Maritime
4,466

 
3,155

 
19,060

 
16,482

Detection
8,883

 
6,999

 
24,644

 
25,556

 
$
121,310

 
$
104,602

 
$
308,111

 
$
268,305

A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Consolidated segment operating income
$
121,310

 
$
104,602

 
$
308,111

 
$
268,305

Unallocated corporate expenses
(25,492
)
 
(16,514
)
 
(68,733
)
 
(49,186
)
Amortization of purchased intangible assets
(7,102
)
 
(4,329
)
 
(20,854
)
 
(12,464
)
Amortization of acquisition-related inventory step-up

 

 
(1,992
)
 

SkyWatch product quality accrual
(1,088
)
 
(2,000
)
 
(3,088
)
 
(2,000
)
Restructuring charges
(542
)
 
(910
)
 
(642
)
 
(1,217
)
Consolidated earnings from operations
87,086

 
80,849

 
212,802

 
203,438

Interest and non-operating expense, net
(2,553
)
 
(5,641
)
 
(9,165
)
 
(12,757
)
Consolidated earnings before income taxes
$
84,533

 
$
75,208

 
$
203,637

 
$
190,681

Unallocated corporate expenses include general corporate expenses, acquisition related costs and executive transition costs.
Segment assets
Operating Segments - (Continued)
 
September 30,
 
December 31,
 
2017
 
2016
Segment assets (accounts receivable, net and inventories):
 
 
 
Surveillance
$
290,353

 
$
283,324

Instruments
132,642

 
114,681

Security
95,063

 
93,174

OEM & Emerging Markets
141,212

 
144,862

Maritime
65,276

 
61,494

Detection
34,001

 
25,856


$
758,547

 
$
723,391

 
September 30,
 
December 31,
 
2017
 
2016
Segment goodwill:
 
 
 
Surveillance
$
259,400

 
$
152,383

Instruments
153,677

 
147,595

Security
111,883

 
102,983

OEM & Emerging Markets
255,490

 
252,647

Maritime
102,384

 
97,860

Detection
48,012

 
47,938

 
$
930,846

 
$
801,406

By Significant Geographical Location
Revenue and Long-Lived Assets by Geographic Area
Information related to revenue by significant geographical location, determined by the end customer, is as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
United States
$
250,755

 
$
229,350

 
$
696,612

 
$
647,938

Europe
91,529

 
71,949

 
265,842

 
240,656

Asia
56,416

 
42,639

 
170,061

 
133,877

Middle East/Africa
26,437

 
41,889

 
86,826

 
98,231

Canada/Latin America
39,575

 
19,401

 
86,309

 
66,727

 
$
464,712

 
$
405,228

 
$
1,305,650

 
$
1,187,429

Long-lived assets by significant geographic locations are as follows (in thousands):
 
 
 
December 31, 2016
 
September 30, 2017
 
 (as reclassified)
United States
$
686,191

 
$
676,007

Europe
485,216

 
490,089

Canada/Latin America
253,051

 
235,921

Other foreign
8,560

 
7,789

 
$
1,433,018

 
$
1,409,806


Revenue Derived from Major Customers
Major Customers
Revenue derived from major customers is as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
United States government
$
117,797

 
$
112,735

 
$
345,856

 
$
298,476