Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 969,123	$ 909,900
Short-term investments	206,786	206,257
Accounts receivable, net	235,477	237,278
Inventories	356,375	307,712
Prepaid income taxes	42,430	44,944
Prepaid expenses and other current assets	54,695	47,919
Total current assets	1,864,886	1,754,010
DEFERRED INCOME TAXES, NET	24,940	26,976
GOODWILL	55,705	55,831
INTANGIBLE ASSETS, NET	49,284	51,223
PROPERTY, PLANT AND EQUIPMENT, NET	483,907	460,206
OTHER ASSETS	19,285	19,009
TOTAL	2,498,007	2,367,255
CURRENT LIABILITIES:
Current portion of long-term debt	3,621	3,604
Accounts payable	33,369	35,109
Accrued expenses and other liabilities	135,750	144,417
Income taxes payable	22,820	15,773
Total current liabilities	195,560	198,903
DEFERRED INCOME TAXES AND OTHER LONG-TERM LIABILITIES	112,612	100,652
LONG-TERM DEBT, NET OF CURRENT PORTION	44,466	45,378
Total liabilities	352,638	344,933
COMMITMENTS AND CONTINGENCIES (NOTE 12)
IPG PHOTONICS CORPORATION EQUITY:
Common stock, $0.0001 par value, 175,000,000 shares authorized; 54,204,016 and 53,742,849 shares issued and outstanding, respectively, at March 31, 2018; 54,007,708 and 53,629,439 shares issued and outstanding, respectively, at December 31, 2017	5	5
Treasury stock, at cost (461,167 and 378,269 shares held)	(69,004)	(48,933)
Additional paid-in capital	714,255	704,727
Retained earnings	1,550,807	1,443,867
Accumulated other comprehensive loss	(50,694)	(77,344)
Total IPG Photonics Corporation equity	2,145,369	2,022,322
TOTAL	$ 2,498,007	$ 2,367,255

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.