XML 75 R41.htm IDEA: XBRL DOCUMENT v3.22.0.1
Operating Segments and Geographic Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Operating Segment Information
Operating Segment Information
Enterprise SolutionsYears ended December 31,
 202120202019
 (In thousands)
Segment revenues$1,074,426 $872,415 $946,041 
Segment EBITDA143,236 99,333 126,925 
Depreciation expense21,594 20,655 19,771 
Amortization of intangibles17,595 21,662 22,324 
Amortization of software development intangible assets94 245 175 
Adjustments related to acquisitions and divestitures(6,828)125 592 
Severance, restructuring, and acquisition integration costs13,800 7,720 10,808 
Acquisition of property, plant and equipment36,726 25,223 42,289 
Segment assets563,141 462,615 487,125 

Industrial SolutionsYears ended December 31,
 202120202019
 (In thousands)
Segment revenues$1,333,674 $990,301 $1,185,237 
Segment EBITDA227,946 147,626 226,110 
Depreciation expense24,346 21,815 20,638 
Amortization of intangibles20,751 42,733 52,285 
Amortization of software development intangible assets2,806 1,576 350 
Adjustments related to acquisitions and divestitures1,792 — — 
Severance, restructuring, and acquisition integration costs10,092 4,538 15,736 
Goodwill and other asset impairment140,461 — — 
Acquisition of property, plant and equipment47,401 44,675 35,189 
Segment assets652,188 522,637 504,482 

Total SegmentsYears ended December 31,
 202120202019
 (In thousands)
Segment revenues$2,408,100 $1,862,716 $2,131,278 
Segment EBITDA371,182 246,959 353,035 
Depreciation expense45,940 42,470 40,409 
Amortization of intangibles38,346 64,395 74,609 
Amortization of software development intangible assets2,900 1,821 525 
Adjustments related to acquisitions and divestitures(5,036)125 592 
Severance, restructuring, and acquisition integration costs23,892 12,258 26,544 
Goodwill and other asset impairment140,461 — — 
Acquisition of property, plant and equipment84,127 69,898 77,478 
Segment assets1,215,329 985,252 991,607 
Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes
The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.

 Years Ended December 31,
 202120202019
(In thousands)
Segment Revenues and Consolidated Revenues$2,408,100 $1,862,716 $2,131,278 
Total Segment EBITDA$371,182 $246,959 $353,035 
Goodwill and other asset impairment(140,461)— — 
Depreciation expense(45,940)(42,470)(40,409)
Amortization of intangibles(38,346)(64,395)(74,609)
Severance, restructuring, and acquisition integration costs (1)(23,892)(12,258)(26,544)
Amortization of software development intangible assets(2,900)(1,821)(525)
Adjustments related to acquisitions and divestitures (2)5,036 (125)(592)
Eliminations(119)(480)(3,149)
Consolidated operating income124,560 125,410 207,207 
Interest expense, net(62,695)(58,888)(55,814)
Non-operating pension benefit (cost)4,476 (395)1,017 
Gain on sale of note receivable27,036 — — 
Loss on debt extinguishment(5,715)— — 
Consolidated income from continuing operations before taxes$87,662 $66,127 $152,410 

(1)See Note 15, Severance, Restructuring, and Acquisition Integration Activities, for details.
(2)In 2021, we collected $2.2 million of receivables associated with the sale of Grass Valley and acquisition of SPC that were previously written off, reduced the Opterna earn-out liability by $5.8 million, recognized cost of sales of $2.3 million related to purchase accounting adjustments of acquired inventory to fair value for the OTN Systems acquisition, and recognized a $0.6 million loss on the sale of tangible assets. In 2020 and 2019, we collectively recognized $0.1 million and $0.6 million, respectively, of cost of sales related to acquisition accounting adjustments of acquired inventory to fair value for both our SPC and Opterna acquisitions.
Reconciliations of Other Segment Measures to Consolidated Totals
Below are reconciliations of other segment measures to the consolidated totals. 
 Years Ended December 31,
 202120202019
 (In thousands)
Total segment assets$1,215,329 $985,252 $991,607 
Cash and cash equivalents
643,757 501,994 407,480 
Goodwill
1,152,472 1,251,938 1,243,669 
Intangible assets, less accumulated amortization
301,696 287,071 339,505 
Deferred income taxes
32,321 29,536 25,216 
Corporate assets
72,102 83,943 24,147 
Assets of discontinued operations
— — 375,135 
Total assets$3,417,677 $3,139,734 $3,406,759 
Total segment acquisition of property, plant and equipment$84,127 $69,898 $77,478 
    Corporate acquisition of property, plant and equipment6,855 3,605 3,110 
Discontinued operations acquisition of property, plant and equipment— 16,712 29,414 
Total acquisition of property, plant and equipment$90,982 $90,215 $110,002 
Schedule of Revenue from External Customers and Long-Lived Assets Based on Physical Location The table below summarizes net sales and long-lived assets for the years ended December 31, 2021, 2020, and 2019 for the following countries: the U.S., Canada, China, and Germany. No other individual foreign country’s net sales or long-lived assets are material to the Company.
United
 States
CanadaChinaGermanyAll OtherTotal
 (In thousands, except percentages)
Year ended December 31, 2021
Revenues$1,273,239 $191,493 $149,036 $113,529 $680,803 $2,408,100 
Percent of total revenues53 %%%%28 %100 %
Long-lived assets$181,002 $12,666 $46,776 $37,208 $106,986 $384,638 
Year ended December 31, 2020
Revenues$1,015,340 $119,700 $111,835 $91,187 $524,654 $1,862,716 
Percent of total revenues55 %%%%28 %100 %
Long-lived assets$163,731 $32,063 $44,824 $63,100 $114,286 $418,004 
Year ended December 31, 2019
Revenues$1,167,033 $162,975 $109,522 $92,913 $598,835 $2,131,278 
Percent of total revenues55 %%%%28 %100 %
Long-lived assets$152,214 $16,452 $40,247 $48,272 $101,179 $358,364