Operating Segments and Related Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Operating Business Unit Information

Operating segment information is as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Revenue—External Customers:
Industrial	$	188,902		$	188,421		$	368,272		$	359,079
Government and Defense	197,509			161,027			370,859			320,358
Commercial	95,587			103,259			187,603			212,888
	$	481,998		$	452,707		$	926,734		$	892,325
Revenue—Intersegments:
Industrial	$	3,348		$	6,164		$	9,546		$	12,496
Government and Defense	1,436			4,573			2,947			6,101
Commercial	5,784			3,601			10,217			8,081
Eliminations	(10,568		)	(14,338		)	(22,710		)	(26,678		)
	$	—		$	—		$	—		$	—
Segment operating income:
Industrial	$	62,077		$	58,096		$	118,974		$	103,550
Government and Defense	48,970			45,548			97,237			91,730
Commercial	12,980			17,367			25,928			31,839
	$	124,027		$	121,011		$	242,139		$	227,119

A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Consolidated segment operating income	$	124,027		$	121,011		$	242,139		$	227,119
Unallocated corporate expenses	(34,672		)	(22,488		)	(65,711		)	(57,435		)
Amortization of purchased intangible assets	(21,045		)	(6,099		)	(26,974		)	(12,086		)
Amortization of acquisition-related inventory step-up	(899		)	—			(899		)	—
Loss on sale of business	—			—			—			(10,178		)
Restructuring and other charges	(3,674		)	(3,758		)	(3,736		)	(3,262		)
Consolidated earnings from operations	63,737			88,666			144,819			144,158
Interest and non-operating expenses, net	(5,614		)	(5,713		)	(11,939		)	(6,590		)
Consolidated earnings before income taxes	$	58,123		$	82,953		$	132,880		$	137,568

Unallocated corporate expenses include general corporate expenses, acquisition related costs and executive transition costs.

Business unit assets

	June 30,		December 31,
	2019		2018
Operating segment assets:
Net accounts receivable, inventories and demonstration assets:
Industrial	$	273,938	$	266,457
Government and Defense	361,580		307,041
Commercial	148,742		137,560
	$	784,260	$	711,058
Goodwill:
Industrial	391,079		391,603
Government and Defense	725,436		284,188
Commercial	235,683		228,780
	$	1,352,198	$	904,571
Total operating segment assets	$	2,136,458	$	1,615,629
Assets not allocated:
Cash and cash equivalents	$	268,885	$	512,144
Prepaid expenses and other current assets	77,577		69,445
Property and equipment, net	251,684		247,407
Deferred income taxes	98,330		100,620
Intangible assets, net	273,225		146,845
Other assets	138,527		89,152
Total assets	$	3,244,686	$	2,781,242

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 June 30, 2019								Six Months Ended June 30, 2019
	Industrial		Government and Defense		Commercial		Total		Industrial		Government and Defense		Commercial		Total
United States	$	99,122	$	134,216	$	35,534	$	268,872	$	200,332	$	243,519	$	67,747	$	511,598
Europe	32,855		25,000		41,584		99,439		64,163		51,596		84,140		199,899
Asia	43,459		17,548		10,163		71,170		77,893		34,934		17,121		129,948
Middle East/Africa	2,922		18,815		2,864		24,601		6,691		36,222		8,960		51,873
Canada/Latin America	10,544		1,930		5,442		17,916		19,193		4,588		9,635		33,416
	$	188,902	$	197,509	$	95,587	$	481,998	$	368,272	$	370,859	$	187,603	$	926,734

Note 19.        Operating Segments and Related Information - (Continued)

Revenue and Long-Lived Assets by Geographic Area - (Continued)

	Three Months Ended June 30, 2018								Six Months Ended June 30, 2018
	Industrial		Government and Defense		Commercial		Total		Industrial		Government and Defense		Commercial		Total
United States	$	89,259	$	102,798	$	41,478	$	233,535	$	175,555	$	197,931	$	85,493	$	458,979
Europe	32,610		18,701		41,678		92,989		68,153		35,903		86,455		190,511
Asia	49,655		13,696		9,339		72,690		83,711		32,049		18,303		134,063
Middle East/Africa	4,873		24,088		6,448		35,409		8,538		51,270		12,008		71,816
Canada/Latin America	12,024		1,744		4,316		18,084		23,122		3,205		10,629		36,956
	$	188,421	$	161,027	$	103,259	$	452,707	$	359,079	$	320,358	$	212,888	$	892,325

Long-lived assets by significant geographic locations are as follows (in thousands):

	June 30,		December 31,
	2019		2018
United States	$	1,154,649	$	720,885
Europe	447,438		446,704
Other foreign	413,547		220,386
	$	2,015,634	$	1,387,975

Revenue Derived from Major Customers

Major Customers

Revenue derived from major customers is as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
United States government	$	156,161	$	120,244	$	293,654	$	239,199