2019 Q4 Form 10-K Financial Statement

#000155837020001892 Filed on March 02, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018 Q3
Revenue $338.3M $154.2M $173.1M
YoY Change 119.43% -13.98% -1.98%
Cost Of Revenue $226.0M $79.00M $87.54M
YoY Change 186.08% -2.47% 3.8%
Gross Profit $112.3M $75.19M $85.54M
YoY Change 49.35% -23.41% -7.26%
Gross Profit Margin 33.2% 48.77% 49.42%
Selling, General & Admin $44.00M $27.00M $25.39M
YoY Change 62.96% 27.36% 2.81%
% of Gross Profit 39.18% 35.91% 29.68%
Research & Development $33.80M $20.70M $18.45M
YoY Change 63.29% 26.99% 26.13%
% of Gross Profit 30.1% 27.53% 21.57%
Depreciation & Amortization $10.80M $4.100M $2.134M
YoY Change 163.41% 57.69% 60.09%
% of Gross Profit 9.62% 5.45% 2.49%
Operating Expenses $88.70M $51.80M $45.68M
YoY Change 71.24% 28.86% 12.61%
Operating Profit $22.20M $19.57M $39.86M
YoY Change 13.45% -66.29% -22.86%
Interest Expense $57.00K
YoY Change 111.11%
% of Operating Profit 0.14%
Other Income/Expense, Net -$4.800M $900.0K $401.0K
YoY Change -633.33% 50.0% 162.09%
Pretax Income $17.40M $20.50M $40.26M
YoY Change -15.12% -65.02% -22.31%
Income Tax $6.900M -$200.0K $5.106M
% Of Pretax Income 39.66% -0.98% 12.68%
Net Earnings $10.26M $19.41M $34.78M
YoY Change -47.11% -165.58% -58.53%
Net Earnings / Revenue 3.03% 12.59% 20.09%
Basic Earnings Per Share $0.27 $0.51 $0.89
Diluted Earnings Per Share $0.27 $0.50 $0.89
COMMON SHARES
Basic Shares Outstanding 38.33M 38.49M shares 38.97M
Diluted Shares Outstanding 39.20M

Balance Sheet

Concept 2019 Q4 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $349.1M $351.8M $341.7M
YoY Change -0.76% -14.29% -7.55%
Cash & Equivalents $346.4M $349.3M $338.7M
Short-Term Investments $2.600M $2.470M $3.100M
Other Short-Term Assets $36.86M $10.17M $9.777M
YoY Change 262.28% 25.14% 12.66%
Inventory $230.0M $97.99M $110.3M
Prepaid Expenses
Receivables $246.6M $100.4M $110.4M
Other Receivables $4.200M $2.300M $4.300M
Total Short-Term Assets $866.7M $568.4M $584.8M
YoY Change 52.47% -4.5% 8.1%
LONG-TERM ASSETS
Property, Plant & Equipment $108.1M $31.27M $30.17M
YoY Change 245.74% 75.72% 91.75%
Goodwill $202.9M $101.9M $102.8M
YoY Change 99.15% 89.36% 92.14%
Intangibles $54.91M
YoY Change 63.92%
Long-Term Investments
YoY Change
Other Assets $65.20M $60.00M $60.80M
YoY Change 8.67% 81.82% -20.73%
Total Long-Term Assets $665.7M $248.0M $248.9M
YoY Change 168.38% 79.63% 38.0%
TOTAL ASSETS
Total Short-Term Assets $866.7M $568.4M $584.8M
Total Long-Term Assets $665.7M $248.0M $248.9M
Total Assets $1.532B $816.5M $833.6M
YoY Change 87.68% 11.34% 15.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.7M $39.65M $45.62M
YoY Change 330.49% -17.71% 10.53%
Accrued Expenses $110.6M $44.80M $41.70M
YoY Change 146.88% 16.97% 20.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $17.50M
YoY Change
Total Short-Term Liabilities $320.3M $110.3M $124.6M
YoY Change 190.4% 3.95% 36.92%
LONG-TERM LIABILITIES
Long-Term Debt $321.5M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.56M $18.34M $40.81M
YoY Change 12.13% -49.46% 80.09%
Total Long-Term Liabilities $342.1M $18.34M $40.81M
YoY Change 1765.57% -49.46% 80.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $320.3M $110.3M $124.6M
Total Long-Term Liabilities $342.1M $18.34M $40.81M
Total Liabilities $855.1M $209.2M $234.1M
YoY Change 308.8% -1.64% 35.37%
SHAREHOLDERS EQUITY
Retained Earnings $577.7M $512.8M $480.6M
YoY Change 12.66% 53.88% 32.45%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $676.7M $606.8M $599.1M
YoY Change
Total Liabilities & Shareholders Equity $1.532B $816.5M $833.6M
YoY Change 87.68% 11.34% 15.57%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $10.26M $19.41M $34.78M
YoY Change -47.11% -165.58% -58.53%
Depreciation, Depletion And Amortization $10.80M $4.100M $2.134M
YoY Change 163.41% 57.69% 60.09%
Cash From Operating Activities $19.20M $39.50M $28.20M
YoY Change -51.39% -20.52% -27.69%
INVESTING ACTIVITIES
Capital Expenditures -$9.500M -$3.700M -$7.200M
YoY Change 156.76% 8.82% 227.27%
Acquisitions
YoY Change
Other Investing Activities -$1.800M $600.0K -$84.70M
YoY Change -400.0% -5746.67%
Cash From Investing Activities -$11.30M -$3.100M -$91.90M
YoY Change 264.52% -8.82% 11387.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.600M -25.40M -31.10M
YoY Change -85.83% 477.27% 24.4%
NET CHANGE
Cash From Operating Activities 19.20M 39.50M 28.20M
Cash From Investing Activities -11.30M -3.100M -91.90M
Cash From Financing Activities -3.600M -25.40M -31.10M
Net Change In Cash 4.300M 11.00M -94.80M
YoY Change -60.91% -73.75% -818.18%
FREE CASH FLOW
Cash From Operating Activities $19.20M $39.50M $28.20M
Capital Expenditures -$9.500M -$3.700M -$7.200M
Free Cash Flow $28.70M $43.20M $35.40M
YoY Change -33.56% -18.64% -14.08%

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39754000
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CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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39352000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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40176000
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1.47
CY2018 us-gaap Income Loss From Continuing Operations Per Basic Share
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3.76
CY2017 us-gaap Income Loss From Continuing Operations Per Basic Share
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3.42
CY2019 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.47
CY2018 us-gaap Income Loss From Continuing Operations Per Diluted Share
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3.74
CY2017 us-gaap Income Loss From Continuing Operations Per Diluted Share
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3.39
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0.22
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.22
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.04
CY2019 us-gaap Earnings Per Share Basic
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1.70
CY2018 us-gaap Earnings Per Share Basic
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3.76
CY2017 us-gaap Earnings Per Share Basic
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3.47
CY2019 us-gaap Earnings Per Share Diluted
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1.69
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.74
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.43
CY2019 us-gaap Profit Loss
ProfitLoss
64975000
CY2018 us-gaap Profit Loss
ProfitLoss
147111000
CY2017 us-gaap Profit Loss
ProfitLoss
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-2523000
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-5285000
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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8305000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-2000
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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697000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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-1163000
CY2019 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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62527000
CY2018 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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141129000
CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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147327000
CY2019 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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34000
CY2018 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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86000
CY2019 us-gaap Comprehensive Income Net Of Tax
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62493000
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29993000
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8305000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-2000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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-1163000
CY2017 us-gaap Profit Loss
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137861000
CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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147327000
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520641000
CY2018 us-gaap Share Based Compensation
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9703000
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-700000
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-481000
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-122000
CY2019 us-gaap Increase Decrease In Accounts Receivable
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18879000
CY2018 us-gaap Increase Decrease In Accounts Receivable
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-3445000
CY2017 us-gaap Increase Decrease In Accounts Receivable
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CY2019 us-gaap Increase Decrease In Inventories
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-3687000
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32533000
CY2018 us-gaap Minority Interest Period Increase Decrease
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426000
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-2005000
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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9703000
CY2018 us-gaap Stock Repurchased And Retired During Period Value
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95125000
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-5285000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
697000
CY2018 us-gaap Profit Loss
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147111000
CY2018 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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141129000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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607302000
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
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104000
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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7327000
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-2523000
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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-75000
CY2019 us-gaap Profit Loss
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64975000
CY2019 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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62527000
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677260000
CY2019 us-gaap Profit Loss
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64975000
CY2018 us-gaap Profit Loss
ProfitLoss
147111000
CY2017 us-gaap Profit Loss
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CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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-8480000
CY2018 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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38000
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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-1760000
CY2019 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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56495000
CY2018 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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147149000
CY2017 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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136101000
CY2019 us-gaap Depreciation Depletion And Amortization
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26147000
CY2018 us-gaap Depreciation Depletion And Amortization
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13592000
CY2017 us-gaap Depreciation Depletion And Amortization
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9424000
CY2019 us-gaap Share Based Compensation
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CY2017 us-gaap Share Based Compensation
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12549000
CY2019 us-gaap Deferred Income Taxes And Tax Credits
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1015000
CY2018 us-gaap Deferred Income Taxes And Tax Credits
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5618000
CY2017 us-gaap Deferred Income Taxes And Tax Credits
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28765000
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-3489000
CY2019 aeis Discounts On Notes Receivable
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1100000
CY2019 us-gaap Gain Loss On Sale Of Business
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14795000
CY2018 us-gaap Increase Decrease In Inventories
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11276000
CY2017 us-gaap Increase Decrease In Inventories
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19261000
CY2019 us-gaap Increase Decrease In Other Operating Assets
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-23544000
CY2019 us-gaap Payments To Acquire Notes Receivable
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4300000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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346441000
CY2018 us-gaap Increase Decrease In Other Operating Assets
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2975000
CY2017 us-gaap Increase Decrease In Other Operating Assets
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1030000
CY2019 us-gaap Increase Decrease In Accounts Payable
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-16094000
CY2018 us-gaap Increase Decrease In Accounts Payable
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-12618000
CY2017 us-gaap Increase Decrease In Accounts Payable
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1812000
CY2019 aeis Increase Decrease In Other Current Liabilities And Accrued Expenses
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12486000
CY2018 aeis Increase Decrease In Other Current Liabilities And Accrued Expenses
IncreaseDecreaseInOtherCurrentLiabilitiesAndAccruedExpenses
3239000
CY2017 aeis Increase Decrease In Other Current Liabilities And Accrued Expenses
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-7159000
CY2019 us-gaap Increase Decrease In Income Taxes
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-9862000
CY2018 us-gaap Increase Decrease In Income Taxes
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1547000
CY2017 us-gaap Increase Decrease In Income Taxes
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18323000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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47899000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
151427000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
189956000
CY2019 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
493000
CY2018 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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-156000
CY2017 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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-7255000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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48392000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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151271000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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182701000
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95000
CY2017 us-gaap Payments To Acquire Marketable Securities
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107000
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1742000
CY2018 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
589000
CY2017 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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1903000
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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366101000
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
93756000
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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17347000
CY2017 us-gaap Payments For Hedge Investing Activities
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3489000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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25188000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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20330000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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9042000
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-393847000
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-113592000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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-28082000
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347486000
CY2019 us-gaap Repayments Of Lines Of Credit
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8750000
CY2018 us-gaap Payments For Repurchase Of Common Stock
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95125000
CY2017 us-gaap Payments For Repurchase Of Common Stock
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29993000
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104000
CY2018 aeis Net Payments Proceeds Related To Stock Based Award Activities
NetPaymentsProceedsRelatedToStockBasedAwardActivities
-2009000
CY2017 aeis Net Payments Proceeds Related To Stock Based Award Activities
NetPaymentsProceedsRelatedToStockBasedAwardActivities
-1314000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
338840000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-97134000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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-31307000
CY2019 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-1496000
CY2018 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-1030000
CY2017 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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2208000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8111000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-60485000
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
125520000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
354552000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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415037000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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289517000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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354552000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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415037000
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5251000
CY2017Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
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7754000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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346441000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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349301000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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407283000
CY2019 us-gaap Interest Paid Net
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3479000
CY2018 us-gaap Interest Paid Net
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228000
CY2017 us-gaap Interest Paid Net
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66000
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18594000
CY2018 us-gaap Income Taxes Paid
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16190000
CY2017 us-gaap Income Taxes Paid
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5314000
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1762000
CY2018 us-gaap Proceeds From Income Tax Refunds
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1135000
CY2017 us-gaap Proceeds From Income Tax Refunds
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1448000
CY2019 aeis Number Of Operating Vertical Markets
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4
CY2019 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates in the Preparation of the Consolidated Financial Statements —</span> The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We believe that the significant estimates, assumptions, and judgments when accounting for items and matters such as allowances for doubtful accounts, excess and obsolete inventory, warranty reserves, acquisitions, asset valuations, asset life, depreciation, amortization, recoverability of assets, impairments, deferred revenue, stock option and restricted stock grants, taxes, and other provisions are reasonable, based upon information available at the time they are made. Actual results may differ from these estimates, making it possible that a change in these estimates could occur in the near term.</p>
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2019 us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Concentrations of Credit Risk —</span> Financial instruments, which potentially subject us to credit risk, include cash and cash equivalents, marketable securities, and trade accounts receivable. To preserve capital and maintain liquidity, we invest with financial institutions we deem to be of high quality and sound financial condition. Our investments are in low-risk instruments and we limit our credit exposure in any one institution or type of investment instrument based upon criteria including creditworthiness.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We have established an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends, and other information.</p>
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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4200000
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1856000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1748000
CY2019 aeis Provision For Doubtful Accounts Business Combinations
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1884000
CY2018 aeis Provision For Doubtful Accounts Business Combinations
ProvisionForDoubtfulAccountsBusinessCombinations
416000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4207000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
109000
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
202000
CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
417000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
7745000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1856000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">New Accounting Standards<b style="background-color:#ffffff;font-family:'Arial';font-style:normal;font-weight:bold;"> </b>Issued But Not Yet Adopted</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326)", Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). This ASU changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. We are currently assessing the impact ASU 2016-13 will have on our Consolidated Financial Statements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820)" ("ASU 2018-13"). ASU 2018-13 modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. ASU 2018-13 is effective for fiscal years ending after December 15, 2019 and shall be applied to all periods presented on a </p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt 0pt 12pt 0pt;">retrospective basis. Early adoption is permitted. We are currently assessing and do not believe ASU 2018-13 will have a significant impact on our fair value measurements disclosure requirements.</p><p style="font-family:'Times New Roman';font-size:10pt;min-height:12.0pt;text-indent:36pt;margin:0pt;">In August 2018, the FASB issued ASU 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20)" ("ASU 2018-14"). ASU 2018-14 eliminates requirements for certain disclosures and requires additional disclosures under defined benefit pension plans and other post-retirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020 and shall be applied to all periods presented on a retrospective basis. Early adoption is permitted. We are currently assessing and do not believe ASU 2018-14 will have a significant impact on our defined benefit plan disclosure requirements.</p>
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