Goodwill, Intangible Assets and Impairment Charges (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following table summarizes changes in goodwill during the year ended December 31, 2020 (in thousands):

	December 31, 2020
Balance at beginning of year	$	274,710
Goodwill adjustment from acquisitions		(93	)
Effect of foreign exchange rate changes		11,363
Balance at end of year	$	285,980

Goodwill by Reportable Segment

Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	218,517		$	165,195		$	53,497		$	437,209
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	116,056		$	133,473		$	36,451		$	285,980

Goodwill by reportable segment as of December 31, 2019 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	213,413		$	160,086		$	52,440		$	425,939
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	110,952		$	128,364		$	35,394		$	274,710

Intangible Assets

Intangible assets as of December 31, 2020 and 2019, respectively, are summarized as follows (dollar amounts in thousands):

	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Amortizable intangible assets:
Patents and developed technologies	$	164,430	$	(110,572	)	$	53,858		8.8
Customer relationships		167,429		(92,892	)		74,537		10.9
Trademarks and trade names		18,367		(11,268	)		7,099		7.8
Amortizable intangible assets		350,226		(214,732	)		135,494		9.9
Non-amortizable intangible assets:
Trade names		13,027		—			13,027
Total	$	363,253	$	(214,732	)	$	148,521

	December 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Amortizable intangible assets:
Patents and developed technologies	$	159,217	$	(97,523	)	$	61,694		9.5
Customer relationships		161,807		(78,206	)		83,601		11.9
Customer backlog		2,316		(2,316	)		—	—
Trademarks and trade names		17,871		(10,018	)		7,853		8.6
Amortizable intangible assets		341,211		(188,063	)		153,148		10.7
Non-amortizable intangible assets:
Trade names		13,027		—			13,027
Total	$	354,238	$	(188,063	)	$	166,175

Amortization Expense of Intangible Assets

Amortization expense was as follows (in thousands):

	Year Ended December 31,
	2020		2019		2018
Amortization expense – cost of revenue	$	11,123	$	10,588	$	10,060
Amortization expense – operating expenses		13,970		15,857		15,550
Total amortization expense	$	25,093	$	26,445	$	25,610

Estimated Future Amortization Expense

Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):

Year Ending December 31,	Cost of Revenue		Operating Expenses		Total
2021	$	11,998	$	14,376	$	26,374
2022		10,274		13,535		23,809
2023		9,033		11,777		20,810
2024		6,752		9,738		16,490
2025		5,273		8,105		13,378
Thereafter		10,528		24,105		34,633
Total	$	53,858	$	81,636	$	135,494