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Operating Segments and Related Information
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Operating Business Units and Related Information Operating Segments and Related Information
Operating Segments
The Company’s chief operating decision maker ("CODM"), its Chief Executive Officer, evaluates each of its segments’ performance and allocates resources based on revenue and segment operating income. Intersegment revenues are recorded at cost and are eliminated in consolidation. The Company and each of its segments employ consistent accounting policies.
Note 17.        Operating Segments and Related Information - (Continued)
Operating Segments - (Continued)
The Company has two reportable segments as follows:
Industrial Technologies Segment. The Industrial Technologies segment develops and manufactures thermal and visible-spectrum imaging camera cores and components that are utilized by third parties to create thermal, industrial, and other types of imaging systems. The segment also develops, manufactures, and services offerings that image, measure, and analyze thermal energy, gases, and other environmental elements for industrial, commercial, and scientific applications, imaging payloads for Unmanned Aerial Systems ("UAS"), and machine vision cameras. Additionally, the segment develops, manufactures, and services fixed-mounted visible and thermal imaging cameras and related analytics software for perimeter security, critical infrastructure, recreational and commercial maritime, and traffic monitoring and control. Offerings include thermal imaging cameras, analytics software, gas detection cameras, firefighting cameras, process automation cameras, environmental test and measurement devices, security cameras, marine electronics, and traffic cameras.
Defense Technologies Segment. The Defense Technologies segment develops and manufactures enhanced imaging and recognition solutions for a wide variety of military, law enforcement, public safety, and other government customers around the world for the protection of borders, troops, and public welfare. The segment also develops and manufactures sensor instruments and integrated platform solutions for the detection, identification, and suppression of chemical, biological, radiological, nuclear, and explosives ("CBRNE") threats for military force protection, homeland security, and commercial applications. Offerings include airborne, land, maritime, and man-portable multi-spectrum imaging systems, radars, lasers, imaging components, integrated multi-sensor system platforms, CBRNE detectors, nano-class UAS solutions, and services related to these systems. The segment also produces advanced multi-mission unmanned air and ground based systems serving US Department of Defense and Federal government agencies, public safety, and governmental customers in international markets.
The following tables present revenue, segment operating income, and segment assets for the two segments. Segment operating income as reviewed by the CODM is revenue less cost of goods sold and operating expenses, excluding general corporate expenses, separation, transaction, and integration costs, amortization of acquired intangible assets, restructuring expenses and asset impairment charges, and discrete legal and compliance matters. Net accounts receivable, inventories and demonstration assets for the operating segments are regularly reviewed by management and are reported below as segment assets. All remaining assets, liabilities, capital expenditures, and depreciation are managed on a Company-wide basis.
Segment operating income information is as follows (in thousands):
 Three Months Ended
March 31,
 20212020
Revenue—External Customers:
Industrial Technologies$274,864 $276,415 
Defense Technologies192,449 174,508 
$467,313 $450,923 
Revenue—Intersegments:
Industrial Technologies$3,378 $2,702 
Defense Technologies1,230 1,834 
Eliminations(4,608)(4,536)
$— $— 
Segment operating income:
Industrial Technologies$76,906 $64,265 
Defense Technologies25,376 33,154 
$102,282 $97,419 
A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in thousands):
Note 17.        Operating Segments and Related Information - (Continued)
Three Months Ended
 March 31,
 20212020
Consolidated segment operating income$102,282 $97,419 
Unallocated corporate expenses(37,274)(36,244)
Amortization of purchased intangible assets(11,924)(11,896)
Restructuring expenses(622)(20,784)
Consolidated earnings from operations52,462 28,495 
Interest and non-operating expense(2,452)(5,297)
Consolidated earnings before income taxes$50,010 $23,198 
Unallocated corporate expenses include general corporate expenses, separation, transaction, and integration costs, amortization of acquired intangible assets, restructuring expenses and asset impairment charges, and discrete legal and compliance matters.
A reconciliation of the Company's consolidated segment operating assets to consolidated total assets is as follows (in thousands):
 March 31,December 31,
 20212020
Operating segment assets:
 Net accounts receivable, inventories and demonstration assets:
Industrial Technologies$425,274 $419,323 
Defense Technologies454,023 436,595 
$879,297 $855,918 
Goodwill:
Industrial Technologies644,666 651,439 
Defense Technologies742,181 742,925 
$1,386,847 $1,394,364 
Total operating segment assets$2,266,144 $2,250,282 
Assets not allocated:
 Cash and cash equivalents $277,303 $297,795 
 Prepaid expenses and other current assets 66,609 74,526 
 Property and equipment, net 269,269 267,682 
 Deferred income taxes 35,610 36,210 
 Intangible assets, net 197,632 209,636 
 Other assets116,235 116,217 
Total assets $3,228,802 $3,252,348 
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 March 31, 2021
 Industrial TechnologiesDefense TechnologiesTotal
United States$120,678 $135,105 $255,783 
Europe82,194 22,549 $104,743 
Asia41,422 12,571 $53,993 
Middle East/Africa14,747 18,565 $33,312 
Canada/Latin America15,823 3,659 $19,482 
$274,864 $192,449 $467,313 
Note 17.        Operating Segments and Related Information - (Continued)
Revenue and Long-Lived Assets by Geographic Area - (Continued)
 Three Months Ended March 31, 2020
 Industrial TechnologiesDefense TechnologiesTotal
United States$103,337 $115,947 $219,284 
Europe65,335 19,476 84,811 
Asia73,387 11,864 85,251 
Middle East/Africa18,027 25,128 43,155 
Canada/Latin America16,329 2,093 18,422 
$276,415 $174,508 $450,923 
Long-lived assets consist of net property and equipment, net identifiable intangible assets, goodwill and other long-term assets. Long-lived assets by significant geographic locations are as follows (in thousands):
 March 31,December 31,
20212020
United States$1,139,267 $1,144,758 
Europe426,619 440,549 
Other foreign404,097 402,592 
$1,969,983 $1,987,899 
Major Customers
Revenue derived from major customers is as follows (in thousands):
Three Months Ended
 March 31,
 20212020
United States government$156,719 $132,149