Operating Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2016



Broadcast Solutions	Years ended December 31,
	2016			2015		2014
	(In thousands)
Segment revenues	$	769,753		$	739,970	$	757,767
Affiliate revenues	744			916		821
Segment EBITDA	137,870			113,638		116,966
Depreciation expense	16,229			16,295		15,854
Amortization of intangibles	47,248			49,812		49,562
Severance, restructuring, and acquisition integration costs	10,414			39,078		48,440
Purchase accounting effects of acquisitions	(2,991		)	132		8,574
Deferred gross profit adjustments	1,774			2,446		10,777
Patent settlement	(5,554		)	—		—
Acquisition of property, plant and equipment	15,713			27,365		17,091
Segment assets	325,396			346,095		378,024



Enterprise Connectivity Solutions	Years ended December 31,
	2016		2015		2014
	(In thousands)
Segment revenues	$	603,188	$	605,910	$	626,614
Affiliate revenues	5,977		5,322		8,467
Segment EBITDA	101,298		100,214		89,352
Depreciation expense	13,226		12,591		14,443
Amortization of intangibles	1,718		1,720		1,827
Severance, restructuring, and acquisition integration costs	11,962		723		3,435
Purchase accounting effects of acquisitions	912		52		608
Acquisition of property, plant and equipment	22,679		10,323		13,395
Segment assets	246,564		238,400		259,344



Industrial Connectivity Solutions	Years ended December 31,
	2016		2015		2014
	(In thousands)
Segment revenues	$	585,476	$	603,350	$	682,374
Affiliate revenues	1,325		1,613		2,927
Segment EBITDA	101,248		99,941		106,097
Depreciation expense	11,038		11,235		11,145
Amortization of intangibles	2,394		3,154		1,236
Severance, restructuring, and acquisition integration costs	9,923		6,228		11,953
Purchase accounting effects of acquisitions	—		334		1,328
Acquisition of property, plant and equipment	10,486		8,836		10,053
Segment assets	226,306		231,265		255,997



Industrial IT Solutions	Years ended December 31,
	2016		2015		2014
	(In thousands)
Segment revenues	$	235,441	$	244,303	$	253,464
Affiliate revenues	79		70		54
Segment EBITDA	45,067		43,253		47,927
Depreciation expense	2,396		2,293		2,294
Amortization of intangibles	6,016		5,859		5,801
Severance, restructuring, and acquisition integration costs	6,320		169		6,999
Purchase accounting effects of acquisitions	—		32		2,030
Acquisition of property, plant and equipment	1,347		2,039		1,903
Segment assets	58,845		55,285		67,417



Network Security Solutions	Years ended December 31,
	2016			2015		2014
	(In thousands)
Segment revenues	$	163,947		$	167,050	$	—
Affiliate revenues	—			8		—
Segment EBITDA	47,706			44,620		—
Depreciation expense	4,319			4,137		—
Amortization of intangibles	41,009			43,246		—
Severance, restructuring, and acquisition integration costs	151			972		—
Purchase accounting effects of acquisitions	—			9,197		—
Deferred gross profit adjustments	4,913			50,430		—
Acquisition of property, plant and equipment	3,357			5,009		—
Segment assets	56,887			63,235		—

Total Segments	Years ended December 31,
	2016			2015		2014
	(In thousands)
Segment revenues	$	2,357,805		$	2,360,583	$	2,320,219
Affiliate revenues	8,125			7,929		12,269
Segment EBITDA	433,189			401,666		360,342
Depreciation expense	47,208			46,551		43,736
Amortization of intangibles	98,385			103,791		58,426
Severance, restructuring, and acquisition integration costs	38,770			47,170		70,827
Purchase accounting effects of acquisitions	(2,079		)	9,747		12,540
Deferred gross profit adjustments	6,687			52,876		10,777
Patent settlement	(5,554		)	—		—
Acquisition of property, plant and equipment	53,582			53,572		42,442
Segment assets	913,998			934,280		960,782

Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income from Continuing Operations 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,
	2016			2015			2014
	(In thousands)
Total Segment Revenues	$	2,357,805		$	2,360,583		$	2,320,219
Deferred revenue adjustments (2)	(6,687		)	(51,361		)	(11,954		)
Patent settlement (4)	5,554			—			—
Consolidated Revenues	$	2,356,672		$	2,309,222		$	2,308,265
Total Segment EBITDA	$	433,189		$	401,666		$	360,342
Amortization of intangibles	(98,385		)	(103,791		)	(58,426		)
Impairment of assets held for sale (1)	(23,931		)	—			—
Deferred gross profit adjustments (2)	(6,687		)	(52,876		)	(10,777		)
Severance, restructuring, and acquisition integration costs (3)	(38,770		)	(47,170		)	(70,827		)
Depreciation expense	(47,208		)	(46,551		)	(43,736		)
Patent settlement (4)	5,554			—			—
Purchase accounting effects related to acquisitions (5)	2,079			(9,747		)	(12,540		)
Income from equity method investment	1,793			1,770			3,955
Eliminations	(3,781		)	(2,748		)	(4,872		)
Consolidated operating income	223,853			140,553			163,119
Interest expense, net	(95,050		)	(100,613		)	(81,573		)
Loss on debt extinguishment	(2,342		)	—			—
Consolidated income from continuing operations before taxes	$	126,461		$	39,940		$	81,546


(1)	For the year ended December 31, 2016, we recognized a $23.9 million impairment of assets held for sale. See Note 4, Assets Held for Sale, for details.


(2)	Both our consolidated revenues and gross profit were negatively impacted by the reduction of the acquired deferred revenue balance to fair value associated with our acquisition of Tripwire. See Note 3, Acquisitions.


(3)	See Note 13, Severance, Restructuring, and Acquisition Integration Activities, for details.


(4)	Both our consolidated revenues and gross profit were positively impacted by royalty revenues received during 2016 that related to years prior to 2016 as a result of a patent settlement.

(5)

In 2016, we made a $3.2 million adjustment to reduce the earn-out liability associated with the M2FX acquisition. This adjustment was partially offset by $0.8 million and $0.2 million of cost of sales related to the adjustment of acquired inventory to fair value related our Enterprise segment and M2FX acquisition, respectively. In 2015, we recognized $9.2 million of compensation expense related to the accelerated vesting of acquiree stock based compensation awards associated with our acquisition of Tripwire. In addition, we recognized $0.3 million of cost of sales related to the adjustment of acquired inventory to fair value related to our acquisition of Coast. In 2014, we recognized $8.3 million of cost of sales related to the adjustment of acquired inventory to fair value for our acquisitions of Grass Valley and ProSoft.

Reconciliations of Other Segment Measures to Consolidated Totals

Below are reconciliations of other segment measures to the consolidated totals.



	Years Ended December 31,
	2016		2015		2014
	(In thousands)
Total segment assets	$	913,998	$	934,280	$	960,782
Cash and cash equivalents	848,116		216,751		741,162
Goodwill	1,385,995		1,385,115		943,374
Intangible assets, less accumulated amortization	560,082		655,871		461,292
Deferred income taxes	33,706		34,295		60,652
Income tax receivable	—		3,787		4,953
Corporate assets	64,906		60,503		59,987
Total assets	$	3,806,803	$	3,290,602	$	3,232,202
Total segment acquisition of property, plant and equipment	$	53,582	$	53,572	$	42,442
Corporate acquisition of property, plant and equipment	392		1,397		3,017
Total acquisition of property, plant and equipment	$	53,974	$	54,969	$	45,459

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, 2016, 2015 and 2014 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			Canada			China			Germany			All Other			Total
	(In thousands, except percentages)
Year ended December 31, 2016
Revenues	$	1,283,925		$	159,985		$	114,605		$	104,214		$	693,943		$	2,356,672
Percent of total revenues	55		%	7		%	5		%	4		%	29		%	100		%
Long-lived assets	$	193,263		$	31,278		$	30,487		$	32,386		$	60,654		$	348,068
Year ended December 31, 2015
Revenues	$	1,270,467		$	170,522		$	114,863		$	103,106		$	650,264		$	2,309,222
Percent of total revenues	55		%	7		%	5		%	4		%	29		%	100		%
Long-lived assets	$	188,032		$	27,315		$	62,794		$	35,588		$	64,434		$	378,163
Year ended December 31, 2014
Revenues	$	1,134,721		$	194,149		$	132,330		$	120,297		$	726,768		$	2,308,265
Percent of total revenues	49		%	8		%	6		%	5		%	32		%	100		%
Long-lived assets	$	169,080		$	29,773		$	70,574		$	40,557		$	70,727		$	380,711