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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Total revenues [2] $ 2,294,965 [1] $ 2,100,802 [1] $ 2,136,606
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 955,136 880,408 915,153
Gross profit 1,339,829 1,220,394 1,221,453
Operating expenses:      
Selling and administrative 437,084 390,669 348,913
Engineering and development 322,824 301,505 307,305
Acquired intangible assets amortization 40,147 39,191 30,530
Restructuring and other (13,880) 15,232 9,362
Total operating expenses 786,175 746,597 696,110
Income from operations 553,654 473,797 525,343
Non-operating (income) expense:      
Interest income (24,785) (26,704) (17,805)
Interest expense 23,145 31,269 21,663
Other (income) expense, net 29,522 1,431 (2,927)
Income before income taxes 525,772 467,801 524,412
Income tax provision 58,304 16,022 266,720
Net income $ 467,468 $ 451,779 $ 257,692
Net income per common share:      
Basic $ 2.74 $ 2.41 $ 1.30
Diluted $ 2.60 $ 2.35 $ 1.28
Weighted average common shares—basic 170,425 187,672 198,069
Weighted average common shares—diluted 179,459 192,605 201,641
Cash dividend declared per common share $ 0.36 $ 0.36 $ 0.28
Product [Member]      
Revenues:      
Total revenues $ 1,887,674 $ 1,729,621 $ 1,784,695
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) 782,047 727,138 760,967
Service [Member]      
Revenues:      
Total revenues 407,291 371,181 351,911
Cost of revenues:      
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below) $ 173,089 $ 153,270 $ 154,186
[1] Restructuring and other includes a $5.8 million gain for the decrease in the fair value adjustment to the MiR acquisition contingent consideration, partially offset by a $3.0 million fair value adjustment to increase the AutoGuide acquisition contingent consideration, $0.5 million of employee severance charges and $0.2 million of acquisition related expenses and compensation.
[2] Revenues attributable to a country are based on location of customer site.