$NOVT
NOVANTA INC

2018 Form 10-K Financial Statement

#000156459019004717 Filed on February 27, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017
Revenue $614.3M $146.9M $521.3M
YoY Change 17.85% 48.53% 35.49%
Cost Of Revenue $352.8M $84.70M $300.8M
YoY Change 17.31% 51.25% 35.29%
Gross Profit $261.5M $62.20M $220.5M
YoY Change 18.59% 44.99% 35.75%
Gross Profit Margin 42.57% 42.34% 42.3%
Selling, General & Admin $115.9M $27.40M $102.0M
YoY Change 13.6% 41.97% 24.89%
% of Gross Profit 44.32% 44.05% 46.26%
Research & Development $51.00M $11.80M $41.70M
YoY Change 22.3% 47.5% 30.3%
% of Gross Profit 19.5% 18.97% 18.91%
Depreciation & Amortization $37.05M $8.400M $30.76M
YoY Change 20.46% 64.71% 46.66%
% of Gross Profit 14.17% 13.5% 13.95%
Operating Expenses $190.5M $41.80M $163.0M
YoY Change 16.91% 42.18% 25.46%
Operating Profit $71.01M $20.40M $57.57M
YoY Change 23.36% 51.11% 76.78%
Interest Expense -$9.814M -$2.600M -$7.165M
YoY Change 36.97% -966.67% 57.16%
% of Operating Profit -13.82% -12.75% -12.45%
Other Income/Expense, Net -$44.00K $100.0K -$229.0K
YoY Change -80.79% -80.0% -110.4%
Pretax Income $61.30M $16.60M $76.13M
YoY Change -19.48% 37.19% 134.1%
Income Tax $10.21M $9.700M $13.83M
% Of Pretax Income 16.65% 58.43% 18.16%
Net Earnings $49.11M $8.900M $60.05M
YoY Change -18.22% 14.1% 172.92%
Net Earnings / Revenue 7.99% 6.06% 11.52%
Basic Earnings Per Share $1.46 $1.14
Diluted Earnings Per Share $1.43 $251.4K $1.13
COMMON SHARES
Basic Shares Outstanding 34.91M 34.82M
Diluted Shares Outstanding 35.47M 35.28M

Balance Sheet

Concept 2018 2017 Q4 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.00M $100.1M $100.1M
YoY Change -18.08% 46.99% 46.99%
Cash & Equivalents $82.00M $100.1M $100.1M
Short-Term Investments
Other Short-Term Assets $9.200M $10.70M $10.70M
YoY Change -14.02% 91.07% 91.07%
Inventory $104.8M $91.28M $91.30M
Prepaid Expenses
Receivables $84.00M $81.48M $81.50M
Other Receivables $1.800M $4.400M $4.400M
Total Short-Term Assets $281.8M $287.9M $287.9M
YoY Change -2.12% 44.48% 44.46%
LONG-TERM ASSETS
Property, Plant & Equipment $65.50M $61.72M $61.70M
YoY Change 6.16% 74.24% 74.29%
Goodwill $211.0M
YoY Change 95.13%
Intangibles $155.0M
YoY Change 151.12%
Long-Term Investments
YoY Change
Other Assets $11.80M $4.018M $11.10M
YoY Change 6.31% -67.86% -47.39%
Total Long-Term Assets $437.8M $438.8M $438.8M
YoY Change -0.23% 93.84% 93.9%
TOTAL ASSETS
Total Short-Term Assets $281.8M $287.9M $287.9M
Total Long-Term Assets $437.8M $438.8M $438.8M
Total Assets $719.6M $726.7M $726.7M
YoY Change -0.98% 70.73% 70.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.70M $39.79M $39.80M
YoY Change 27.39% 23.53% 23.6%
Accrued Expenses $29.10M $26.90M $26.90M
YoY Change 8.18% 47.8% 47.8%
Deferred Revenue $4.790M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.500M $9.119M $9.100M
YoY Change -50.55% 23.8% 22.97%
Total Short-Term Liabilities $104.2M $98.17M $98.20M
YoY Change 6.11% 39.25% 39.29%
LONG-TERM LIABILITIES
Long-Term Debt $202.8M $225.5M $233.4M
YoY Change -13.11% 219.61% 196.57%
Other Long-Term Liabilities $21.70M $15.14M $10.90M
YoY Change 99.08% -19.09% -33.13%
Total Long-Term Liabilities $224.5M $240.6M $244.3M
YoY Change -8.1% 169.57% 157.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.2M $98.17M $98.20M
Total Long-Term Liabilities $224.5M $240.6M $244.3M
Total Liabilities $351.3M $368.2M $415.2M
YoY Change -15.39% 120.81% 148.92%
SHAREHOLDERS EQUITY
Retained Earnings -$127.7M
YoY Change -23.76%
Common Stock $457.2M
YoY Change 0.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $368.3M $311.5M $311.5M
YoY Change
Total Liabilities & Shareholders Equity $719.6M $726.7M $726.7M
YoY Change -0.98% 70.73% 70.75%

Cashflow Statement

Concept 2018 2017 Q4 2017
OPERATING ACTIVITIES
Net Income $49.11M $8.900M $60.05M
YoY Change -18.22% 14.1% 172.92%
Depreciation, Depletion And Amortization $37.05M $8.400M $30.76M
YoY Change 20.46% 64.71% 46.66%
Cash From Operating Activities $89.65M $22.10M $63.38M
YoY Change 41.45% 68.7% 32.62%
INVESTING ACTIVITIES
Capital Expenditures $14.66M -$2.600M $9.094M
YoY Change 61.18% -51.85% 7.47%
Acquisitions $168.3M
YoY Change 1779.12%
Other Investing Activities -$29.30M $0.00 -$168.3M
YoY Change -82.59% 41975.0%
Cash From Investing Activities -$45.59M -$2.600M -$177.4M
YoY Change -74.3% -52.73% 1278.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.850M $400.0K
YoY Change 1362.5% -75.52%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -60.16M -11.80M 143.3M
YoY Change -141.98% 461.9% -718.09%
NET CHANGE
Cash From Operating Activities 89.65M 22.10M 63.38M
Cash From Investing Activities -45.59M -2.600M -177.4M
Cash From Financing Activities -60.16M -11.80M 143.3M
Net Change In Cash -18.01M 7.700M 29.33M
YoY Change -161.42% 40.0% 149.94%
FREE CASH FLOW
Cash From Operating Activities $89.65M $22.10M $63.38M
Capital Expenditures $14.66M -$2.600M $9.094M
Free Cash Flow $74.99M $24.70M $54.28M
YoY Change 38.14% 33.51% 38.04%

Facts In Submission

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PaymentsForRepurchaseOfCommonStock
370000
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1634000
CY2018 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
30800000
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-563000
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-853000
CY2016 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-993000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-60164000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
143330000
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23189000
CY2018 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1907000
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
2621000
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-3585000
CY2016 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
932000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1187000
CY2017 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1601000
CY2016 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1253000
CY2018 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-18014000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
31949000
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8149000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68108000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59959000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
8924000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
5832000
CY2016 us-gaap Interest Paid Net
InterestPaidNet
2917000
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
20323000
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
21121000
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
14058000
CY2018 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
3011000
CY2017 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
337000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:6pt;margin-left:1.06%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:2.27%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Estimates and assumptions are reviewed on an on-going basis and the effects of revisions are reflected in the period in which they are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates. </p>
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
565000
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
500000
CY2018 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
45202000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
36791000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
66000
CY2018 us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-1926000
CY2018 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
10060000
CY2017 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
8824000
CY2016 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
4164000
CY2018 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
25610000
CY2017 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
20920000
CY2016 novt Amortization Of Intangible Assets Including Cost Of Goods Sold Amortization
AmortizationOfIntangibleAssetsIncludingCostOfGoodsSoldAmortization
12415000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
23955000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
20716000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
18895000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15974000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
13562000
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
283000
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
135000
CY2017 novt Allowance For Doubtful Accounts Receivable Additions From Business Acquisition
AllowanceForDoubtfulAccountsReceivableAdditionsFromBusinessAcquisition
52000
CY2016 novt Allowance For Doubtful Accounts Receivable Additions From Business Acquisition
AllowanceForDoubtfulAccountsReceivableAdditionsFromBusinessAcquisition
15000
CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
295000
CY2017 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
358000
CY2016 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
82000
CY2018 novt Allowance For Doubtful Accounts Translation Adjustment
AllowanceForDoubtfulAccountsTranslationAdjustment
4000
CY2017 novt Allowance For Doubtful Accounts Translation Adjustment
AllowanceForDoubtfulAccountsTranslationAdjustment
-12000
CY2016 novt Allowance For Doubtful Accounts Translation Adjustment
AllowanceForDoubtfulAccountsTranslationAdjustment
3000
CY2018 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
2
CY2018 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
33500000
CY2017 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
20200000
CY2016 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
0
CY2016 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-9611000
CY2016 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
726000
CY2017 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
1045000
CY2018 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-5473000
CY2018 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
12011000
CY2018 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-5337000
CY2018Q4 us-gaap Goodwill Gross
GoodwillGross
368891000
CY2018Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2017Q4 us-gaap Goodwill Gross
GoodwillGross
362217000
CY2017Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
151229000
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
293298000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
163405000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
129893000
CY2018 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P10Y6M
CY2018Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2018Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
306325000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
283445000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
141424000
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
142021000
CY2017 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P11Y3M18D
CY2017Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
13027000
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
296472000
CY2018 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2017 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2016 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
133986000
CY2018 novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
50890000
CY2017 novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
39807000
CY2016 novt Net Income Loss After Adjustment For Redeemable Noncontrolling Interest Redemption Value
NetIncomeLossAfterAdjustmentForRedeemableNoncontrollingInterestRedemptionValue
22003000
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
560000
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
463000
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
220000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4000
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
85000
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
69008000
CY2017Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
57277000
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
15982000
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
14847000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
17337000
CY2017Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
16443000
CY2018Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
2437000
CY2017Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
2711000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
127177000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
68522000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
65459000
CY2018Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
13537000
CY2017Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
13562000
CY2018 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
1100000
CY2017 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
2000000
CY2016 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
2300000
CY2018 us-gaap Depreciation
Depreciation
11442000
CY2017 us-gaap Depreciation
Depreciation
9838000
CY2016 us-gaap Depreciation
Depreciation
8558000
CY2018Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
6901000
CY2017Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
6097000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
24545000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17348000
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4510000
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4835000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4165000
CY2017Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4790000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
13075000
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
16341000
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3142000
CY2015Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3335000
CY2018 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3111000
CY2017 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3169000
CY2016 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1673000
CY2017 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
1307000
CY2016 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
23000
CY2018 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3341000
CY2017 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2857000
CY2016 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1849000
CY2018 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-95000
CY2017 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
74000
CY2016 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-40000
CY2018Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
207378000
CY2017Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
234619000
CY2016Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
300000000
CY2016Q2 us-gaap Debt Instrument Term
DebtInstrumentTerm
P5Y
CY2016Q2 novt Debt Instruments Maturity Date Month And Year
DebtInstrumentsMaturityDateMonthAndYear
2021-05
CY2016Q2 us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
The Second Amended and Restated Credit Agreement also requires the Company to satisfy certain financial covenants, such as maintaining a minimum consolidated fixed charge coverage ratio of 1.50 and a maximum consolidated leverage ratio of 3.00. The maximum consolidated leverage ratio will increase to 3.50 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $50.0 million.
CY2016Q2 novt Consolidated Fixed Charge Coverage Ratio Minimum
ConsolidatedFixedChargeCoverageRatioMinimum
1.50
CY2016Q2 novt Consolidated Leverage Ratio Maximum
ConsolidatedLeverageRatioMaximum
3.00
CY2018Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0337
CY2018 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.004
CY2018 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1000000
CY2017 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
800000
CY2016 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
900000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7714000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5493000
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4293000
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13100000
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M26D
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
3900000
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
3100000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
2500000
CY2018 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
939000
CY2017 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
991000
CY2016 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1232000
CY2018 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1717000
CY2017 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1665000
CY2016 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1566000
CY2018 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-826000
CY2017 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1045000
CY2016 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-726000
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DefinedBenefitPlanNetPeriodicBenefitCost
48000
CY2017 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
371000
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
392000
CY2018 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.024
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.026
CY2016 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.038
CY2018 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.048
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.052
CY2016 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.053
CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.027
CY2017Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.024
CY2018Q4 novt Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Inflation Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationInflationRate
0.028
CY2017Q4 novt Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Inflation Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationInflationRate
0.029
CY2017Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
40329000
CY2016Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
37261000
CY2018 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
1718000
CY2017 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
27000
CY2018 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
1301000
CY2017 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
1313000
CY2018 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
754000
CY2018 us-gaap Defined Benefit Plan Foreign Currency Exchange Rate Changes Benefit Obligation
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation
-2121000
CY2017 us-gaap Defined Benefit Plan Foreign Currency Exchange Rate Changes Benefit Obligation
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation
3417000
CY2018Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
36882000
CY2018Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
36882000
CY2017Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
40329000
CY2017Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
36476000
CY2016Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
31304000
CY2018 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-1083000
CY2018Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
1197000
CY2017 novt Defined Benefit Plan Accumulated Other Comprehensive Income Foreign Currency Exchange Rate Changes
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeForeignCurrencyExchangeRateChanges
-808000
CY2018Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
-11120000
CY2017 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
2605000
CY2018 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
941000
CY2017 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
887000
CY2018 us-gaap Defined Benefit Plan Plan Assets Foreign Currency Translation Gain Loss
DefinedBenefitPlanPlanAssetsForeignCurrencyTranslationGainLoss
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