0001101302-18-000053 | 10-Q | XBRL Viewer

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 29, 2018	Oct. 22, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 29, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Trading Symbol	ENTG
Entity Registrant Name	ENTEGRIS INC
Entity Central Index Key	0001101302
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		141,331,081

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 294,893	$ 625,408
Trade accounts and notes receivable, net of allowance for doubtful accounts of $908 and $860	212,729	183,434
Inventories	264,090	198,089
Deferred tax charges and refundable income taxes	25,191	18,012
Other current assets	24,043	32,665
Total current assets	820,946	1,057,608
Property, plant and equipment, net of accumulated depreciation of $456,412 and $427,766	393,706	359,523
Other assets:
Goodwill	542,235	359,688
Intangible assets, net of accumulated amortization of $326,051 and $281,439	323,379	182,430
Deferred tax assets and other noncurrent tax assets	11,735	9,103
Other	11,455	7,820
Total assets	2,103,456	1,976,172
Current liabilities:
Long-term debt, current maturities	0	100,000
Accounts payable	74,590	68,762
Accrued payroll and related benefits	60,896	64,860
Other accrued liabilities	55,389	34,514
Income taxes payable	20,137	22,835
Total current liabilities	211,012	290,971
Long-term debt, excluding current maturities, net of unamortized discount and debt issuance costs of $8,225 and $9,470	650,625	574,380
Pension benefit obligations and other liabilities	32,332	32,130
Deferred tax liabilities and other noncurrent tax liabilities	125,816	85,673
Commitments and contingent liabilities	0	0
Equity:
Preferred stock, par value $.01; 5,000,000 shares authorized; none issued and outstanding as of September 29, 2018 and December 31, 2017	0	0
Common stock, par value $.01; 400,000,000 shares authorized; issued and outstanding shares as of September 29, 2018: 141,607,335 and 141,404,935; issued and outstanding shares as of December 31, 2017: 141,282,539	1,416	1,413
Treasury stock, at cost: 202,400 and 0 shares held as of September 29, 2018 and December 31, 2017	(7,112)	0
Additional paid-in capital	864,809	867,699
Retained earnings	258,223	147,418
Accumulated other comprehensive loss	(33,665)	(23,512)
Total equity	1,083,671	993,018
Total liabilities and equity	$ 2,103,456	$ 1,976,172

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Trade accounts and notes receivable, allowance for doubtful accounts	$ 908	$ 860
Property, plant and equipment, accumulated depreciation	456,412	427,766
Intangible assets, Accumulated amortization	326,051	281,439
Unamortized discount and debt issuance costs	$ 8,225	$ 9,470
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	141,607,335	141,282,539
Common stock, shares outstanding	141,404,935	141,282,539
Treasury stock, shares outstanding	202,400	0

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Net Sales	$ 398,597	$ 345,591	$ 1,148,855	$ 991,970
Cost of sales	216,881	190,184	608,764	546,664
Gross profit	181,716	155,407	540,091	445,306
Selling, general and administrative expenses	62,358	57,699	185,827	161,176
Engineering, research and development expenses	29,964	26,002	87,781	80,462
Amortization of intangible assets	21,419	11,051	45,102	33,003
Operating income	67,975	60,655	221,381	170,665
Interest expense	7,987	7,749	24,442	24,418
Interest income	(309)	(150)	(2,613)	(323)
Other expense, net	810	2,906	4,826	3,762
Income before income tax expense	59,487	50,150	194,726	142,808
Income tax expense	11,427	9,248	34,755	29,401
Net income	$ 48,060	$ 40,902	$ 159,971	$ 113,407
Basic net income per common share	$ 0.34	$ 0.29	$ 1.13	$ 0.80
Diluted net income per common share	0.34	0.28	1.12	0.79
Cash dividends declared per common share	$ 0.07	$ 0.07	$ 0.21	$ 0.00
Weighted shares outstanding:
Basic	141,556	141,684	141,613	141,627
Diluted	143,033	143,594	143,308	143,472

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Net income	$ 48,060	$ 40,902	$ 159,971	$ 113,407
Other comprehensive income, net of tax
Foreign currency translation adjustments	(1,432)	(279)	(10,223)	11,805
Reclassification of cumulative translation adjustment associated with liquidated subsidiary	0	1,400	0	1,400
Pension liability adjustments	17	16	70	23
Other comprehensive (loss) income	(1,415)	1,137	(10,153)	13,228
Comprehensive income	$ 46,645	$ 42,039	$ 149,818	$ 126,635

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017
Operating activities:
Net income	$ 159,971	$ 113,407
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	48,236	43,173
Amortization	45,102	33,003
Share-based compensation expense	12,727	11,457
Provision for deferred income taxes	(1,066)	254
Other	10,584	24,028
Changes in operating assets and liabilities:
Trade accounts and notes receivable	(8,713)	(15,345)
Inventories	(28,788)	(14,884)
Accounts payable and accrued liabilities	(9,440)	7,598
Other current assets	1,390	3,883
Income taxes payable and refundable income taxes	(9,193)	1,664
Other	439	(606)
Net cash provided by operating activities	221,249	207,632
Investing activities:
Acquisition of property, plant and equipment	(75,337)	(67,939)
Acquisition of businesses, net of cash acquired	(380,268)	(20,000)
Other	5,014	1,074
Net cash used in investing activities	(450,591)	(86,865)
Financing activities:
Payments of long-term debt	(27,000)	(75,000)
Payments for dividends	(29,701)	0
Issuance of common stock	3,029	3,582
Repurchase and retirement of common stock	(30,000)	(18,000)
Taxes paid related to net share settlement of equity awards	(14,552)	(5,407)
Other	1,254	(1,270)
Net cash used in financing activities	(96,970)	(96,095)
Effect of exchange rate changes on cash and cash equivalents	(4,203)	4,136
(Decrease) increase in cash and cash equivalents	(330,515)	28,808
Cash and cash equivalents at beginning of period	625,408	406,389
Cash and cash equivalents at end of period	294,893	435,197
Supplemental Cash Flow Information [Abstract]
Capital Expenditures Incurred but Not yet Paid	9,464	6,857
Capital Lease Obligations Incurred	0	4,768
Schedule of interest and taxes paid
Interest paid	23,070	16,167
Income taxes paid, net of refunds received	$ 44,249	$ 27,826

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 29, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Entegris, Inc. (“Entegris”, “the Company”, “us”, “we”, or “our”) is a leading global developer, manufacturer and supplier of microcontamination control products, specialty chemicals and advanced materials handling solutions for manufacturing processes in the semiconductor and other high-technology industries. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, particularly receivables, inventories, property, plant and equipment, goodwill, intangibles, accrued expenses, and income taxes and related accounts, and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and contain all adjustments considered necessary, and are of a normal recurring nature, to present fairly the financial position as of September 29, 2018 and December 31, 2017, and the results of operations and comprehensive income for the three and nine months ended September 29, 2018 and September 30, 2017, and cash flows for the nine months ended September 29, 2018 and September 30, 2017. The condensed consolidated financial statements and accompanying notes are presented as permitted by Form 10-Q and do not contain certain information included in the Company’s annual consolidated financial statements and notes. The information included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis and consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2017. The results of operations for the three and nine months ended September 29, 2018 are not necessarily indicative of the results to be expected for the full year. Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable, accounts payable, accrued payroll and related benefits, and other accrued liabilities approximates fair value due to the short maturity of those items. The fair value of long-term debt, including current maturities, was $623.8 million at September 29, 2018, compared to the carrying amount of long-term debt, including current maturities, of $650.6 million. Revenue Recognition Revenue is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold. Recent Accounting Pronouncements Adopted in 2018 In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09 Revenue from Contracts with Customers. ASU No. 2014-09 supersedes previous revenue recognition requirements and requires entities to recognize revenue when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The Company adopted the provisions of ASU No. 2014-09 as of January 1, 2018 using the modified retrospective transition method. See note 2 to the condensed consolidated financial statements for further details. Recent Accounting Pronouncements Yet to be Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU No. 2016-02 requires the identification of arrangements that should be accounted for as leases by lessees. In general, for lease arrangements exceeding a twelve-month term, these arrangements must now be recognized as assets and liabilities on the balance sheet of the lessee. Under ASU No. 2016-02, a right-of-use asset and lease obligation will be recorded for all leases, whether operating or financing, while the income statement will reflect lease expense for operating leases, and amortization and interest expense for financing leases. The Company has substantially completed the process of identifying existing lease contracts and is currently performing detailed evaluations of the leases under the new accounting requirements. The Company believes the most significant changes to the financial statements relate to the recognition of right-of-use assets and offsetting lease liabilities in the consolidated balance sheet for operating leases. The Company plans to adopt ASU 2016-02 as of January 1, 2019, utilizing the modified retrospective transition method. The Company will recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption rather than in the earliest period presented. The Company will also apply certain practical expedients offered in the guidance.

Revenues (Notes)

9 Months Ended

Sep. 29, 2018

Revenues [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUES

Adoption of ASC ASU No. 2014-09, Revenue from Contracts with Customers On January 1, 2018, the Company adopted ASU No. 2014-09 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under the provisions of ASU No. 2014-09, while prior period amounts are not adjusted and continue to be reported in accordance with previous accounting guidance.

The Company adopted ASU No. 2014-09 with a date of initial application of January 1, 2018. As a result, the Company changed its accounting policy for revenue recognition for two items as detailed below. The first change concerns transactions where the Company offers customers incentives in the form of free products. The new revenue standard requires that a portion of the transaction price be allocated to the free product and deferred until the product has been delivered. The Company previously accrued for undelivered free product as a charge to cost of goods sold. The second change concerns revenue recognition involving certain shipping terms that included freight and export costs. Under the new revenue standard, the Company recognizes revenue at the point at which products are delivered to a particular port or loaded onto a vessel and control has transferred, whereas prior to the date of initial application of ASU No. 2014-09, revenue recognition was previously deferred for those sales until they reached their destination.

The Company adopted ASU No. 2014-09 using the modified retrospective method, recognizing the cumulative effect of application as an adjustment to the opening balance of equity at January 1, 2018. Therefore, prior year information has not been adjusted and continues to be reported under previous applicable guidance. The details of the impact of the changes made to the Company's balance sheet date as of January 1, 2018 are reflected in the following table.



(In thousands)	Increase (decrease)
Trade accounts and note receivable	$765
Inventory	(223)
Other accrued liabilities	1,276
Deferred tax liabilities and other noncurrent tax liabilities	(144)
Retained earnings	(590)

Based on an analysis of the financial statement line items affected in the quarter ended September 29, 2018 in the application of ASU No. 2014-09 as compared with previous reporting, the Company has determined that the quantitative changes to each financial statement line item are immaterial. As a result, for the quarter ended September 29, 2018, the Company is not disclosing the quantitative amount by which each financial statement line item is affected in the current reporting by the application of Topic 606 as compared with the guidance that was in effect before the change.

As part of its adoption of ASU No. 2014-09 in the first quarter of 2018, the Company elected to use the allowed practical expedient, pursuant to which it has excluded disclosures of transaction prices allocated to remaining performance obligations and when it expects to recognize such revenue for all periods prior to the date of initial application of ASU No. 2014-09.

Revenue Recognition Revenue is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer.

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold.

The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less.

When the Company receives consideration, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. Such deferred revenue typically results from advance payments received on sales of the Company’s products. The deferred revenue balance at quarter end is deemed immaterial and, accordingly, the Company does not make the required disclosures.

The Company does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Nature of goods and services The following is a description of principal activities from which the Company generates its revenues. The Company has three reportable segments. For more detailed information about reportable segments, see note 9 to the condensed consolidated financial statements. For each of the three reportable segments, the recognition of revenue regarding the nature of goods and services provided by the segments are similar and described below. The Company recognizes revenue product sales at a point in time following the transfer of control of such products to the customer, which generally occurs upon shipment, or delivery depending on the terms of the underlying contracts. For product sales contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation identified in the contract based on relative standalone selling prices, or estimates of such prices, and recognizes the related revenue as control of each individual product is transferred to the customer, in satisfaction of the corresponding performance obligations.

The Company generally recognizes revenue for sales of services over time at which the Company has satisfied the performance obligation.

The Company also enters into arrangements to license its intellectual property. These arrangements typically permit the customer to use a specialized manufacturing process and in return the Company receives a royalty fee. If applicable, the Company recognizes revenue when the subsequent sale or usage occurs.

The Company offers certain customers cash discounts and volume rebates as sales incentives. The discounts and volume rebates are recorded as a reduction in sales at the time revenue is recognized in an amount estimated based on historical experience and contractual obligations. The Company periodically reviews the assumptions underlying its estimates of discounts and volume rebates and adjusts its revenues accordingly.

In addition, the Company offers free product rebates to certain customers. The Company utilizes an adjusted market approach to estimate the stand-alone selling price of the loyalty program and allocates a portion of the consideration received to the free product offering. The free product offering is redeemable upon future purchases of the Company’s products. The amount associated with free product rebates is deferred in the balance sheet and is recognized as revenue when the free product is redeemed or when the likelihood of redemption is remote. The Company deems the amount immaterial for disclosure. The Company applies the practical expedient in ASU No. 2014-09 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

The Company provides for the estimated costs of fulfilling our obligations under product warranties at the time the related revenue is recognized. The Company estimates the costs based on historical failure rates, projected repair costs, and knowledge of specific product failures (if any). The specific warranty terms and conditions vary depending upon the product sold and the country in which we do business, but generally include parts and labor over a period generally ranging from 90 days to one year. The Company regularly reevaluates its estimates to assess the adequacy of the recorded warranty liabilities and adjust the amounts as necessary.

The Company’s contracts are generally short-term in nature. Most contracts do not exceed twelve months. Payment terms vary by the type and location of the Company’s customers and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer. Those customers that prepay are represented by the contract liabilities below until the performance obligations are satisfied.

The following table provides information about contract liabilities from contracts with customers. The contract liabilities are included in other accrued liabilities balance in the condensed consolidated balance sheet.



(In thousands)	September 29, 2018	December 31, 2017
Contract liabilities - current	17,868	1,168

Significant changes in the contract liabilities balances during the period are as follows.



(In thousands)	2018
Revenue recognized that was included in the contract liability balance at the beginning of the period	(1,168	)
Increases due to cash received, excluding amounts recognized as revenue during the period	8,422
Business combination	9,446

Acquisition (Notes)

9 Months Ended

Sep. 29, 2018

Business Acquisition [Line Items]

Business Combination Disclosure [Text Block]

ACQUISITIONS

SAES Pure Gas

On June 25, 2018, the Company acquired the SAES Pure Gas business (SPG), from SAES Getters S.p.A. for approximately $352.4 million in cash, or $341.2 million net of cash acquired, subject to revision for customary working capital adjustments, funded from the Company's existing cash on hand. The acquisition was accounted for under the acquisition method of accounting and the results of operations of SPG are included in the Company's condensed consolidated financial statements as of and since June 25, 2018. Direct costs of $4.8 million associated with the acquisition of SPG, consisting mainly of professional and consulting fees, were expensed as incurred in the nine months ended September 29, 2018, respectively. These costs are included in selling, general and administrative expense in the Company's condensed consolidated statements of operations.

SPG, based in San Luis Obispo, California, is a leading provider of high-capacity gas purification systems used in semiconductor manufacturing and adjacent markets, and reports into the Microcontamination Control division of the Company. This acquisition expands the gas purification solutions portfolio in our Microcontamination Control Division with high-capacity products suited for bulk chemical purification applications.

The following table summarizes the provisional allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of the SPG acquisition:



(In thousands):
Accounts receivable	$	19,224
Inventory	43,170
Other current assets	95
Property, plant and equipment	7,052
Identifiable intangible assets	160,850
Other noncurrent assets	12
Current liabilities	(26,058		)
Deferred tax liabilities	(37,623		)
Other noncurrent liabilities	(1,006		)
Net assets acquired	165,716
Goodwill	175,476
Total purchase price, net of cash acquired	$	341,192

The fair value of acquired inventories of $43.2 million is provisional pending the Company's review of the calculations underlying the valuation for those assets and is valued at the estimated selling price less the cost of disposal and reasonable profit for the selling effort. The fair value write-up of acquired work-in-process and finished goods inventory was $8.9 million, the amount of which will be amortized over the expected turn of the acquired inventory. Accordingly, a $3.3 million and $3.5 million incremental cost of sales charge associated with the fair value write-up of inventory acquired in the acquisition of SPG was recorded for the three and nine months ended September 29, 2018.

The fair value of acquired property, plant and equipment of $7.1 million is valued at its value-in-use and is provisional pending the Company's completion of its valuation of certain assets, and its final review thereof.

The fair value of the acquired intangible assets is $160.9 million and is provisional pending the Company’s review of the calculations underlying the valuation of those assets. The acquired intangible assets, all of which are finite-lived, have a weighted average useful life of approximately 10.0 years and are being amortized on a straight-line basis. The intangible assets that comprise the amount include customer relationships of $110.6 million (12.0-year weighted average useful life), developed technology of $23.2 million (9.0-year weighted average useful life), trade names of $6.7 million (9.0-year weighted average useful life), and other intangible assets of $20.4 million (0.9-year weighted average useful life).

The fair value of acquired identifiable intangible assets was determined using the “income approach”. In performing these valuations, the key underlying probability-adjusted assumptions of the discounted cash flows were projected revenues, gross margin expectations and operating cost estimates. The valuations were based on the information that was available as of the acquisition date and the expectations and assumptions that have been deemed reasonable by the Company’s management. There are inherent uncertainties and management judgment required in these determinations. The fair value measurements of the assets acquired and liabilities assumed were based on valuations involving significant unobservable inputs, or Level 3 in the fair value hierarchy.

The purchase price of SPG exceeded the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed by $175.5 million. Cash flows used to determine the purchase price included strategic and synergistic benefits (investment value) specific to the Company, which resulted in a purchase price in excess of the fair value of identifiable net assets. The purchase price also included the fair values of other assets that were not identifiable, not separately recognizable under accounting rules (e.g., assembled workforce) or of immaterial value in addition to a going-concern element that represents the Company's ability to earn a higher rate of return on the group of assets than would be expected on the separate assets as determined during the valuation process. This additional investment value resulted in goodwill. No amount of goodwill is expected to be deductible for income tax purposes.

The final valuation of assets acquired and liabilities assumed is expected to be completed as soon as possible, but no later than one year from the acquisition date. Given the size and complexity of the acquisition, the valuation of certain assets and liabilities, is still being completed, and is subject to final review. To the extent that the Company's estimates require adjustment, the Company will modify the values.

Pro Forma Results (Unaudited)

The following unaudited pro forma financial information presents the combined results of operations of the Company as if the acquisition of SPG had occurred as of the beginning of the years presented. The unaudited pro forma financial information is not necessarily indicative of what the Company’s consolidated results of operations actually would have been had the acquisition occurred at the beginning of each year. In addition, the unaudited pro forma financial information does not attempt to project the future results of operations of the combined company.



	Three months ended				Nine months ended
(In thousands, except per share data) (Unaudited)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Net sales	$	398,597	$	364,881	$	1,202,552	$	1,058,330
Net income	55,609		38,861		186,224		91,894
Per share amounts:
Net income per common share - basic	$	0.39	$	0.27	$	1.32	$	0.65
Net income per common share - diluted	0.39		0.27		1.30		0.64

The unaudited pro forma financial information above gives effect to the following:

a. The elimination of transactions between Entegris and SPG, which upon completion of the acquisition would be considered intercompany. This reflects the elimination of intercompany sales and associated intercompany accounts.

b. Incremental amortization and depreciation expense related to the estimated fair value of identifiable intangible assets and property, plant and equipment from the purchase price allocation.

The unaudited pro forma financial information above for the three and nine months ended September 29, 2018 excludes the incremental charge of $3.3 million and $3.5 million reported in cost of sales for the sale of acquired inventory that was written-up to fair value, respectively.

The pro forma data does not include data for Particle Sizing Systems, LLC and Flex Concepts, Inc. for the period prior to their acquisitions due to the immaterial impact on the pro forma financial information for the nine months ended September 29, 2018.

Particle Sizing Systems

On January 22, 2018, the Company acquired Particle Sizing Systems, LLC (PSS), which provides particle sizing instrumentation for liquid applications to the semiconductor and life science industries. The acquired assets and assumed liabilities became part of the Company’s Advanced Materials Handling (AMH) segment. The transaction was accounted for under the acquisition method of accounting and the results of operations of PSS are included in the Company's consolidated financial statements since January 22, 2018. The acquisition does not constitute a material business combination.

The purchase price for PSS was cash consideration of $37.3 million, funded from the Company's existing cash on hand. Costs associated with the acquisition of the product line were not significant and were expensed as incurred.

The purchase price of PSS exceeds the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed by $8.8 million. Cash flows used to determine the purchase price included strategic and synergistic benefits (investment value) specific to the Company, which resulted in a purchase price in excess of the fair value of identifiable net assets. This additional investment value resulted in goodwill, which is expected to be deductible for income tax purposes.

The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of acquisition:



(In thousands):	Amount
Accounts receivable	$	3,898
Inventory	1,827
Other current assets	23
Property, plant and equipment	103
Other noncurrent assets	3
Identifiable intangible assets	25,600
Accounts payables	(294		)
Accrued expenses	(2,667		)
Net assets acquired	28,493
Goodwill	8,804
Total purchase price	$	37,297

As of September 29, 2018, the Company has not finalized its fair value determinations of the assets acquired and liabilities assumed. The preliminary valuation of the assets acquired and liabilities assumed was based on the information that was available as of the acquisition date, and the expectations and assumptions that have been deemed reasonable by the Company's management. The valuation of the acquired assets and liabilities assumed is currently being reviewed, with the expectation of completion in the fourth quarter.

Intangible assets, consisting mostly of technology-related intellectual property, generally will be amortized on a straight-line basis over an expected useful life currently estimated at approximately 9.4 years. In performing the valuation of intangible assets, the Company used independent appraisals, discounted cash flows and other factors, as the best evidence of fair value. The key underlying assumptions of the discounted cash flows were projected revenues, gross margin expectations and operating cost estimates. There are inherent uncertainties and management judgment required in these determinations. No assurance can be given that the underlying assumptions will occur as projected. The fair value measurement of the assets acquired and liabilities assumed were based on valuation involving significant unobservable inputs, or Level 3 in the fair value hierarchy.

Flex Concepts

On June 26, 2018, the Company acquired Flex Concepts, Inc. (Flex), a technology company focused on single-use fluid handling bags, tubing manifolds and hardware for the life sciences industry. The purchase price of Flex was for cash consideration of $1.9 million. The transaction was accounted for under the acquisition method of accounting and the results of operations of Flex are included in the Company's consolidated financial statements since June 26, 2018. The acquisition does not constitute a material business combination.

As of September 29, 2018, the Company has finalized its fair value determinations of the assets acquired and liabilities assumed. The valuation of the assets acquired and liabilities assumed was based on the information that was available as of the acquisition date and the expectations and assumptions that have been deemed reasonable by the Company's management.

Inventories

9 Months Ended

Sep. 29, 2018

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consist of the following:



(In thousands)	September 29, 2018		December 31, 2017
Raw materials	$	91,415	$	58,226
Work-in process	35,009		16,193
Finished goods	137,666		123,670
Total inventories	$	264,090	$	198,089

Goodwill and Intangible Assets

9 Months Ended

Sep. 29, 2018

Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill activity for each period was as follows:



(In thousands)	Specialty Chemicals and Engineered Materials			Microcontamination Control			Advanced Materials Handling		Total
December 31, 2017	$	304,270		8,007			$	47,411	$	359,688
Addition due to acquisitions	—			175,476			9,660		185,136
Foreign currency translation	(2,562		)	(27		)	—		(2,589		)
September 29, 2018	$	301,708		$	183,456		$	57,071	$	542,235

Identifiable intangible assets at September 29, 2018 and December 31, 2017 consist of the following:



September 29, 2018
(In thousands)	Gross carrying Amount		Accumulated amortization		Net carrying value
Developed technology	$	251,960	$	169,625	$	82,335
Trademarks and trade names	25,653		14,471		11,182
Customer relationships	331,059		126,335		204,724
Other	40,758		15,620		25,138
	$	649,430	$	326,051	$	323,379



December 31, 2017
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value
Developed technology	$	206,224	$	149,215	$	57,009
Trademarks and trade names	16,807		13,712		3,095
Customer relationships	220,806		110,281		110,525
Other	20,032		8,231		11,801
	$	463,869	$	281,439	$	182,430

Future amortization expense for each of the five succeeding years and thereafter relating to intangible assets currently recorded in the Company's consolidated balance sheets is estimated at September 29, 2018 to be the following:




Fiscal year ending December 31	(In thousands)
2018	$	20,480
2019	65,973
2020	42,788
2021	36,102
2022	35,322
Thereafter	122,714
	$	323,379

Income Tax (Notes)

9 Months Ended

Sep. 29, 2018

Income Tax [Abstract]

Income Tax Disclosure [Text Block]

INCOME TAX

Income tax expense differs from the expected amounts based on the statutory federal tax rates for the three and nine months ended September 29, 2018 and September 30, 2017 as follows:



	Three months ended						Nine months ended
(In thousands)	September 29, 2018			September 30, 2017			September 29, 2018			September 30, 2017
Expected federal income tax expense at statutory rate	$	12,492		$	17,553		$	40,892		$	49,983
State income taxes before valuation allowance, net of federal tax effect	378			(119		)	1,076			90
Effect of foreign source income	(4,771		)	(7,372		)	(7,117		)	(18,017		)
Tax contingencies	21			1,577			834			2,112
Valuation allowance	1,002			808			1,455			2,045
U.S. federal research credit	673			(3,026		)	(901		)	(4,174		)
Equity compensation	147			(67		)	(5,645		)	(2,859		)
Global intangible low tax income	1,102			—			3,051			—
Other items, net	383			(106		)	1,110			221
Income tax expense	$	11,427		$	9,248		$	34,755		$	29,401

The Company’s year-to-date effective tax rate was 17.8% in 2018, compared to an effective tax rate of 20.6% during the same period in 2017. This variance reflects the benefit from the reduction in the corporate tax rate from 35% to 21% which was offset by the global intangible low tax income inclusion and various discrete items. The effective tax rate in 2017 reflects a greater concentration in the Company's geographic composition of income toward jurisdictions with lower tax rates.

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act of 2017 (the "Tax Cuts and Jobs Act") which makes broad and complex changes to the U.S. tax code. The Company calculated its best estimate of the impact of the Tax Cuts and Jobs Act in its 2017 year-end income tax provision in accordance with its understanding of the Tax Cuts and Jobs Act and guidance available as of the date of the filing. During the fourth quarter of fiscal 2017, the Company recorded a provisional net charge using reasonable estimates based on analysis and information available to date for the tax effects related to the remeasurement of deferred taxes, the deemed repatriation transition tax, accelerated depreciation, and the deductibility of certain executive compensation. This provisional net charge is subject to revisions as the Company completes its analysis of the Tax Cuts and Jobs Act, collects and prepares necessary data, and interprets any additional guidance issued by the U.S. Treasury Department, Internal Revenue Service, Financial Accounting Standards Board, and other standard setting and regulatory bodies. Adjustments may materially impact the provision for income taxes and effective tax rate in the period in which the adjustments are made. As of September 29, 2018, the Company has not finalized its accounting for the tax effects of these items. The Company expects to complete its analysis of these provisional items when the necessary information becomes available to accurately analyze and compute in reasonable detail under ASC Topic 740. The Company estimates such analysis will be completed in the fourth quarter of 2018.

The Tax Cuts and Jobs Act also has provisions that impact the Company’s 2018 results, most notably a reduction in the corporate income tax rate from 35% to 21% for tax years beginning after December 31, 2017. The U.S. tax law changes also (1) repeals the deduction for domestic production activities, (2) establishes a global intangible low tax income (GILTI) regime, (3) creates a base erosion anti-avoidance tax (BEAT), (4) establishes new limitations on deductible interest expense and certain executive compensation, (5) eliminates the corporate alternative minimum tax, (6) generally eliminates U.S. federal income taxes on dividends from foreign subsidiaries and (7) changes the rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017.

Global Intangible Low Taxed Income

The U.S. tax law changes created new rules that allow the Company to make an accounting policy election to treat taxes due on GILTI inclusions in taxable income as either a current period expense or reflect such inclusions related to temporary basis differences in the Company’s measurement of deferred taxes. The Company has elected to treat the GILTI inclusion as a current period expense. The Company recorded tax expense related to GILTI of $1.1 million and $3.1 million in the three and nine months ended September 29, 2018, respectively.

Earnings Per Common Share

9 Months Ended

Sep. 29, 2018

Earnings Per Share [Abstract]

Earnings Per Common Share

EARNINGS PER COMMON SHARE

The following table presents a reconciliation of the denominators used in the computation of basic and diluted earnings per common share (EPS):



	Three months ended		Nine months ended
(In thousands)	September 29, 2018	September 30, 2017	September 29, 2018	September 30, 2017
Basic—weighted common shares outstanding	141,556	141,684	141,613	141,627
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,477	1,910	1,695	1,845
Diluted—weighted common shares and common shares equivalent outstanding	143,033	143,594	143,308	143,472

The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the three and nine months ended September 29, 2018 and September 30, 2017:



	Three months ended		Nine months ended
(In thousands)	September 29, 2018	September 30, 2017	September 29, 2018	September 30, 2017
Shares excluded from calculations of diluted EPS	295	355	253	293

Fair Value

9 Months Ended

Sep. 29, 2018

Fair Value Disclosures [Abstract]

Fair Value

FAIR VALUE

Financial Assets Measured at Fair Value on a Recurring Basis

The following table presents the Company’s financial assets that are measured at fair value on a recurring basis at September 29, 2018 and December 31, 2017. Level 1 inputs are based on quoted prices in active markets accessible at the reporting date for identical assets and liabilities. Level 2 inputs are based on quoted prices for similar instruments in active markets and quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in a market. Level 3 inputs are based on prices or valuations that require inputs that are significant to the valuation and are unobservable.



	September 29, 2018								December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Other current assets
Foreign currency contracts^(a)	$	—	$	584	$	—	$	584	$	—	$	36	$	—	$	36
Total assets measured and recorded at fair value	$	—	$	584	$	—	$	584	$	—	$	36	$	—	$	36


(a)	Based on observable market transactions of spot currency rates and forward currency rates on equivalently-termed instruments.

A reconciliation of the net fair value of foreign currency contract assets and liabilities subject to master netting arrangements that are recorded in the September 29, 2018 and December 31, 2017 condensed consolidated balance sheets to the net fair value that could have been reported in the respective condensed consolidated balance sheets is as follows:



	September 29, 2018						December 31, 2017
(In thousands)	Gross amounts of recognized assets		Gross amounts offset in the condensed consolidated balance sheet		Net amount of assets in the condensed consolidated balance sheet		Gross amounts of recognized assets		Gross amounts offset in the condensed consolidated balance sheet		Net amount of assets in the condensed consolidated balance sheet
Foreign currency contracts	$	584	$	—	$	584	$	36	$	—	$	36

Gain (losses) associated with derivatives are recorded in other expense, net, in the condensed consolidated statements of operations. Gain (losses) associated with derivative instruments not designated as hedging instruments were as follows:



	Three months ended					Nine months ended
(In thousands)	September 29, 2018		September 30, 2017			September 29, 2018			September 30, 2017
Gain (losses) on foreign currency contracts	$	584	$	(132	)	$	(699	)	$	(2,245	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Reporting

9 Months Ended

Sep. 29, 2018

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

The Company's financial segment reporting reflects an organizational alignment intended to leverage the Company's unique portfolio of capabilities to create value for its customers by developing mission-critical solutions to maximize manufacturing yields and enable higher performance of devices. While these segments have separate products and technical know-how, they share a global generalist sales force, common business systems and processes, technology centers, and strategic and technology roadmaps. The Company leverages its expertise from these three segments to create new and increasingly integrated solutions for its customers. The Company's business is reported in the following segments:


•	Specialty Chemicals and Engineered Materials (SCEM): SCEM provides high-performance and high-purity process chemistries, gases, and materials and safe and efficient delivery systems to support semiconductor and other advanced manufacturing processes.


•	Microcontamination Control (MC): MC solutions purify critical liquid chemistries and gases used in semiconductor manufacturing processes and other high-technology industries.


•	Advanced Materials Handling (AMH): AMH develops solutions to monitor, protect, transport, and deliver critical liquid chemistries and substrates for a broad set of applications in the semiconductor industry and other high-technology industries.

Inter-segment sales are not significant. In the first quarter of 2018, the Company has changed its definition of segment profit. Segment profit is now defined as net sales less direct and indirect segment operating expenses, including certain general and administrative costs for the Company’s human resources, finance and information technology functions previously unallocated by the Company. The remaining unallocated expenses consist mainly the Company's corporate functions as well as interest expense, amortization of intangible assets and income tax expense. Prior quarter information was recast to reflect the change in the Company's definition of segment profit.

Summarized financial information for the Company’s reportable segments is shown in the following tables.



	Three months ended				Nine months ended
(In thousands)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Net sales
SCEM	$	131,234	$	124,522	$	396,313	$	360,131
MC	151,345		116,113		394,663		320,575
AMH	116,018		104,956		357,879		311,264
Total net sales	$	398,597	$	345,591	$	1,148,855	$	991,970



	Three months ended				Nine months ended
(In thousands)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Segment profit
SCEM	$	31,860	$	29,539	$	100,738	$	81,727
MC	44,530		39,302		125,575		102,085
AMH	19,494		12,483		65,750		41,612
Total segment profit	$	95,884	$	81,324	$	292,063	$	225,424

The following table reconciles total segment profit to income before income taxes:



	Three months ended						Nine months ended
(In thousands)	September 29, 2018			September 30, 2017			September 29, 2018			September 30, 2017
Total segment profit	$	95,884		$	81,324		$	292,063		$	225,424
Less:
Amortization of intangible assets	21,419			11,051			45,102			33,003
Unallocated general and administrative expenses	6,490			9,618			25,580			21,756
Operating income	67,975			60,655			221,381			170,665
Interest expense	7,987			7,749			24,442			24,418
Interest income	(309		)	(150		)	(2,613		)	(323		)
Other expense (income), net	810			2,906			4,826			3,762
Income before income tax expense	$	59,487		$	50,150		$	194,726		$	142,808

In the following tables, revenue is disaggregated by country or region for the three and nine months ended September 29, 2018 and September 30, 2017.



(In thousands)	Three months ended September 29, 2018								Nine months ended September 29, 2018
	SCEM		MC		AMH		Total		SCEM		MC		AMH		Total
Taiwan	$	25,436	$	34,452	$	18,745	$	78,633	$	79,653	$	80,556	$	50,942	$	211,151
United States	33,014		24,072		28,536		85,622		99,543		65,119		91,091		255,753
South Korea	21,088		18,893		19,858		59,839		62,206		58,698		66,407		187,311
Japan	12,141		27,479		12,049		51,669		40,707		82,016		35,160		157,883
China	18,667		27,360		12,263		58,290		50,373		56,417		38,793		145,583
Europe	7,579		10,873		16,899		35,351		23,345		30,963		49,859		104,167
Southeast Asia	13,309		8,216		7,668		29,193		40,486		20,894		25,627		87,007
	$	131,234	$	151,345	$	116,018	$	398,597	$	396,313	$	394,663	$	357,879	$	1,148,855



(In thousands)	Three months ended September 30, 2017								Nine months ended September 30, 2017
	SCEM		MC		AMH		Total		SCEM		MC		AMH		Total
Taiwan	$	28,417	$	24,439	$	15,779	$	68,635	$	83,882	$	85,545	$	53,716	$	223,143
United States	29,213		21,068		25,332		75,613		86,597		53,554		72,198		212,349
South Korea	20,474		17,769		20,416		58,659		56,762		46,156		55,062		157,980
Japan	10,388		24,031		9,289		43,708		28,982		63,295		27,567		119,844
China	17,662		13,862		11,171		42,695		48,816		31,817		25,751		106,384
Europe	7,509		8,599		13,130		29,238		22,837		22,363		43,767		88,967
Southeast Asia	10,859		6,345		9,839		27,043		32,255		17,845		33,203		83,303
	$	124,522	$	116,113	$	104,956	$	345,591	$	360,131	$	320,575	$	311,264	$	991,970

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 29, 2018
Nature of Operations	Nature of Operations Entegris, Inc. (“Entegris”, “the Company”, “us”, “we”, or “our”) is a leading global developer, manufacturer and supplier of microcontamination control products, specialty chemicals and advanced materials handling solutions for manufacturing processes in the semiconductor and other high-technology industries.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, particularly receivables, inventories, property, plant and equipment, goodwill, intangibles, accrued expenses, and income taxes and related accounts, and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and contain all adjustments considered necessary, and are of a normal recurring nature, to present fairly the financial position as of September 29, 2018 and December 31, 2017, and the results of operations and comprehensive income for the three and nine months ended September 29, 2018 and September 30, 2017, and cash flows for the nine months ended September 29, 2018 and September 30, 2017. The condensed consolidated financial statements and accompanying notes are presented as permitted by Form 10-Q and do not contain certain information included in the Company’s annual consolidated financial statements and notes. The information included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis and consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2017. The results of operations for the three and nine months ended September 29, 2018 are not necessarily indicative of the results to be expected for the full year.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable, accounts payable, accrued payroll and related benefits, and other accrued liabilities approximates fair value due to the short maturity of those items. The fair value of long-term debt, including current maturities, was $623.8 million at September 29, 2018, compared to the carrying amount of long-term debt, including current maturities, of $650.6 million.
Revenue Recognition	Revenue Recognition Revenue is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted in 2018 In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09 Revenue from Contracts with Customers. ASU No. 2014-09 supersedes previous revenue recognition requirements and requires entities to recognize revenue when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The Company adopted the provisions of ASU No. 2014-09 as of January 1, 2018 using the modified retrospective transition method. See note 2 to the condensed consolidated financial statements for further details. Recent Accounting Pronouncements Yet to be Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU No. 2016-02 requires the identification of arrangements that should be accounted for as leases by lessees. In general, for lease arrangements exceeding a twelve-month term, these arrangements must now be recognized as assets and liabilities on the balance sheet of the lessee. Under ASU No. 2016-02, a right-of-use asset and lease obligation will be recorded for all leases, whether operating or financing, while the income statement will reflect lease expense for operating leases, and amortization and interest expense for financing leases. The Company has substantially completed the process of identifying existing lease contracts and is currently performing detailed evaluations of the leases under the new accounting requirements. The Company believes the most significant changes to the financial statements relate to the recognition of right-of-use assets and offsetting lease liabilities in the consolidated balance sheet for operating leases. The Company plans to adopt ASU 2016-02 as of January 1, 2019, utilizing the modified retrospective transition method. The Company will recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption rather than in the earliest period presented. The Company will also apply certain practical expedients offered in the guidance.

Revenues (Tables)

9 Months Ended

Sep. 29, 2018

Revenues [Abstract]

Revenue, Initial Application Period Cumulative Effect Transition [Table Text Block]



(In thousands)	Increase (decrease)
Trade accounts and note receivable	$765
Inventory	(223)
Other accrued liabilities	1,276
Deferred tax liabilities and other noncurrent tax liabilities	(144)
Retained earnings	(590)

Contract with Customer, Asset and Liability [Table Text Block]



(In thousands)	September 29, 2018	December 31, 2017
Contract liabilities - current	17,868	1,168

Significant changes for contract balances [Table Text Block]

Significant changes in the contract liabilities balances during the period are as follows.



(In thousands)	2018
Revenue recognized that was included in the contract liability balance at the beginning of the period	(1,168	)
Increases due to cash received, excluding amounts recognized as revenue during the period	8,422
Business combination	9,446

Acquisition Acquisition (Tables)

9 Months Ended

Sep. 29, 2018

SPG

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the provisional allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of the SPG acquisition:



(In thousands):
Accounts receivable	$	19,224
Inventory	43,170
Other current assets	95
Property, plant and equipment	7,052
Identifiable intangible assets	160,850
Other noncurrent assets	12
Current liabilities	(26,058		)
Deferred tax liabilities	(37,623		)
Other noncurrent liabilities	(1,006		)
Net assets acquired	165,716
Goodwill	175,476
Total purchase price, net of cash acquired	$	341,192

Business Acquisition, Pro Forma Information [Table Text Block]



	Three months ended				Nine months ended
(In thousands, except per share data) (Unaudited)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Net sales	$	398,597	$	364,881	$	1,202,552	$	1,058,330
Net income	55,609		38,861		186,224		91,894
Per share amounts:
Net income per common share - basic	$	0.39	$	0.27	$	1.32	$	0.65
Net income per common share - diluted	0.39		0.27		1.30		0.64

PSS

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of acquisition:



(In thousands):	Amount
Accounts receivable	$	3,898
Inventory	1,827
Other current assets	23
Property, plant and equipment	103
Other noncurrent assets	3
Identifiable intangible assets	25,600
Accounts payables	(294		)
Accrued expenses	(2,667		)
Net assets acquired	28,493
Goodwill	8,804
Total purchase price	$	37,297

Inventories (Tables)

9 Months Ended

Sep. 29, 2018

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:



(In thousands)	September 29, 2018		December 31, 2017
Raw materials	$	91,415	$	58,226
Work-in process	35,009		16,193
Finished goods	137,666		123,670
Total inventories	$	264,090	$	198,089

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 29, 2018

Schedule of Goodwill

Goodwill activity for each period was as follows:



(In thousands)	Specialty Chemicals and Engineered Materials			Microcontamination Control			Advanced Materials Handling		Total
December 31, 2017	$	304,270		8,007			$	47,411	$	359,688
Addition due to acquisitions	—			175,476			9,660		185,136
Foreign currency translation	(2,562		)	(27		)	—		(2,589		)
September 29, 2018	$	301,708		$	183,456		$	57,071	$	542,235

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Identifiable intangible assets at September 29, 2018 and December 31, 2017 consist of the following:



September 29, 2018
(In thousands)	Gross carrying Amount		Accumulated amortization		Net carrying value
Developed technology	$	251,960	$	169,625	$	82,335
Trademarks and trade names	25,653		14,471		11,182
Customer relationships	331,059		126,335		204,724
Other	40,758		15,620		25,138
	$	649,430	$	326,051	$	323,379



December 31, 2017
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value
Developed technology	$	206,224	$	149,215	$	57,009
Trademarks and trade names	16,807		13,712		3,095
Customer relationships	220,806		110,281		110,525
Other	20,032		8,231		11,801
	$	463,869	$	281,439	$	182,430

Estimated Future Amortization Expense




Fiscal year ending December 31	(In thousands)
2018	$	20,480
2019	65,973
2020	42,788
2021	36,102
2022	35,322
Thereafter	122,714
	$	323,379

Income Tax (Tables)

9 Months Ended

Sep. 29, 2018

Income Tax [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Income tax expense differs from the expected amounts based on the statutory federal tax rates for the three and nine months ended September 29, 2018 and September 30, 2017 as follows:



	Three months ended						Nine months ended
(In thousands)	September 29, 2018			September 30, 2017			September 29, 2018			September 30, 2017
Expected federal income tax expense at statutory rate	$	12,492		$	17,553		$	40,892		$	49,983
State income taxes before valuation allowance, net of federal tax effect	378			(119		)	1,076			90
Effect of foreign source income	(4,771		)	(7,372		)	(7,117		)	(18,017		)
Tax contingencies	21			1,577			834			2,112
Valuation allowance	1,002			808			1,455			2,045
U.S. federal research credit	673			(3,026		)	(901		)	(4,174		)
Equity compensation	147			(67		)	(5,645		)	(2,859		)
Global intangible low tax income	1,102			—			3,051			—
Other items, net	383			(106		)	1,110			221
Income tax expense	$	11,427		$	9,248		$	34,755		$	29,401

Earnings Per Common Share (Tables)

9 Months Ended

Sep. 29, 2018

Reconcilation of Share Amount Used in Computaion of Basic and Diluted Earnings Per Share (EPS)

The following table presents a reconciliation of the denominators used in the computation of basic and diluted earnings per common share (EPS):



	Three months ended		Nine months ended
(In thousands)	September 29, 2018	September 30, 2017	September 29, 2018	September 30, 2017
Basic—weighted common shares outstanding	141,556	141,684	141,613	141,627
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,477	1,910	1,695	1,845
Diluted—weighted common shares and common shares equivalent outstanding	143,033	143,594	143,308	143,472

Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS



	Three months ended		Nine months ended
(In thousands)	September 29, 2018	September 30, 2017	September 29, 2018	September 30, 2017
Shares excluded from calculations of diluted EPS	295	355	253	293

Fair Value (Tables)

9 Months Ended

Sep. 29, 2018

Financial Assets Measured At Fair Value On Recurring Basis



	September 29, 2018								December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Other current assets
Foreign currency contracts^(a)	$	—	$	584	$	—	$	584	$	—	$	36	$	—	$	36
Total assets measured and recorded at fair value	$	—	$	584	$	—	$	584	$	—	$	36	$	—	$	36


(a)	Based on observable market transactions of spot currency rates and forward currency rates on equivalently-termed instruments.

Information about Derivative Positions



	September 29, 2018						December 31, 2017
(In thousands)	Gross amounts of recognized assets		Gross amounts offset in the condensed consolidated balance sheet		Net amount of assets in the condensed consolidated balance sheet		Gross amounts of recognized assets		Gross amounts offset in the condensed consolidated balance sheet		Net amount of assets in the condensed consolidated balance sheet
Foreign currency contracts	$	584	$	—	$	584	$	36	$	—	$	36

Gains and (losses) associated with derivatives



	Three months ended					Nine months ended
(In thousands)	September 29, 2018		September 30, 2017			September 29, 2018			September 30, 2017
Gain (losses) on foreign currency contracts	$	584	$	(132	)	$	(699	)	$	(2,245	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

Segment Reporting (Tables)

9 Months Ended

Sep. 29, 2018

Summary of Financial Information for Reportable Segments

Summarized financial information for the Company’s reportable segments is shown in the following tables.



	Three months ended				Nine months ended
(In thousands)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Net sales
SCEM	$	131,234	$	124,522	$	396,313	$	360,131
MC	151,345		116,113		394,663		320,575
AMH	116,018		104,956		357,879		311,264
Total net sales	$	398,597	$	345,591	$	1,148,855	$	991,970



	Three months ended				Nine months ended
(In thousands)	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Segment profit
SCEM	$	31,860	$	29,539	$	100,738	$	81,727
MC	44,530		39,302		125,575		102,085
AMH	19,494		12,483		65,750		41,612
Total segment profit	$	95,884	$	81,324	$	292,063	$	225,424

Reconciliation of Total Segment Profit to Operating Income

The following table reconciles total segment profit to income before income taxes:



	Three months ended						Nine months ended
(In thousands)	September 29, 2018			September 30, 2017			September 29, 2018			September 30, 2017
Total segment profit	$	95,884		$	81,324		$	292,063		$	225,424
Less:
Amortization of intangible assets	21,419			11,051			45,102			33,003
Unallocated general and administrative expenses	6,490			9,618			25,580			21,756
Operating income	67,975			60,655			221,381			170,665
Interest expense	7,987			7,749			24,442			24,418
Interest income	(309		)	(150		)	(2,613		)	(323		)
Other expense (income), net	810			2,906			4,826			3,762
Income before income tax expense	$	59,487		$	50,150		$	194,726		$	142,808

Schedule of Revenue from External Customers, by Geographical Areas [Table Text Block]

In the following tables, revenue is disaggregated by country or region for the three and nine months ended September 29, 2018 and September 30, 2017.



(In thousands)	Three months ended September 29, 2018								Nine months ended September 29, 2018
	SCEM		MC		AMH		Total		SCEM		MC		AMH		Total
Taiwan	$	25,436	$	34,452	$	18,745	$	78,633	$	79,653	$	80,556	$	50,942	$	211,151
United States	33,014		24,072		28,536		85,622		99,543		65,119		91,091		255,753
South Korea	21,088		18,893		19,858		59,839		62,206		58,698		66,407		187,311
Japan	12,141		27,479		12,049		51,669		40,707		82,016		35,160		157,883
China	18,667		27,360		12,263		58,290		50,373		56,417		38,793		145,583
Europe	7,579		10,873		16,899		35,351		23,345		30,963		49,859		104,167
Southeast Asia	13,309		8,216		7,668		29,193		40,486		20,894		25,627		87,007
	$	131,234	$	151,345	$	116,018	$	398,597	$	396,313	$	394,663	$	357,879	$	1,148,855



(In thousands)	Three months ended September 30, 2017								Nine months ended September 30, 2017
	SCEM		MC		AMH		Total		SCEM		MC		AMH		Total
Taiwan	$	28,417	$	24,439	$	15,779	$	68,635	$	83,882	$	85,545	$	53,716	$	223,143
United States	29,213		21,068		25,332		75,613		86,597		53,554		72,198		212,349
South Korea	20,474		17,769		20,416		58,659		56,762		46,156		55,062		157,980
Japan	10,388		24,031		9,289		43,708		28,982		63,295		27,567		119,844
China	17,662		13,862		11,171		42,695		48,816		31,817		25,751		106,384
Europe	7,509		8,599		13,130		29,238		22,837		22,363		43,767		88,967
Southeast Asia	10,859		6,345		9,839		27,043		32,255		17,845		33,203		83,303
	$	124,522	$	116,113	$	104,956	$	345,591	$	360,131	$	320,575	$	311,264	$	991,970

Summary of Significant Accounting Policies Additional details (Details) $ in Thousands	Sep. 29, 2018 USD ($)
Accounting Policies [Abstract]
Long-term Debt, Fair Value	$ 623,828
Long-term Debt	$ 650,625

Revenues (Details) $ in Thousands	Jan. 01, 2018 USD ($)
Accounts Receivable [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 765
Inventories [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(223)
Accrued Liabilities [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	1,276
Deferred tax liability [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(144)
Retained Earnings [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ (590)

Revenues Contract balances (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Revenues [Abstract]
Contract liabilities - current	$ 17,868	$ 1,168

Revenues Significant changes in contract liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 29, 2018 USD ($)
Revenues [Abstract]
Revenue recognized that was included in the contract liability balance at beginning of period	$ (1,168)
Increases due to cash received, excluding amounts recognized as revenue during the period	8,422
Business Combination	$ 9,446

Acquisition Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Jun. 25, 2018	Jan. 22, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 542,235			$ 359,688
SPG
Business Acquisition [Line Items]
Accounts Receivables		$ 19,224
Inventory		43,170
Other current assets		95
Property, Plant, and Equipment		7,052
Identifiable Intangible Assets		160,850
Other noncurrent assets		12
Current liabilities		(26,058)
Deferred tax liabilities		(37,623)
Other noncurrent liabilities		(1,006)
Net Assets Acquired		165,716
Goodwill		175,476
Total Purchase Price		$ 341,192
PSS
Business Acquisition [Line Items]
Accounts Receivables			$ 3,898
Inventory			1,827
Other current assets			23
Property, Plant, and Equipment			103
Identifiable Intangible Assets			25,600
Other noncurrent assets			3
Accounts Payable			(294)
Current liabilities			(2,667)
Net Assets Acquired			28,493
Goodwill			8,804
Total Purchase Price			$ 37,297

Acquisition Proforma Information (Details) - SPG - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Net sales	$ 398,597	$ 364,881	$ 1,202,552	$ 1,058,330
Net income	$ 55,609	$ 38,861	$ 186,224	$ 91,894
Net income per common share - basic	$ 0.39	$ 0.27	$ 1.32	$ 0.65
Net income per common share - diluted	$ 0.39	$ 0.27	$ 1.30	$ 0.64

Acquisition Additional Acquisition (Details) - USD ($) $ in Thousands				3 Months Ended	9 Months Ended
	Jun. 26, 2018	Jun. 25, 2018	Jan. 22, 2018	Sep. 29, 2018	Sep. 29, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Total Purchase Price					$ 380,268	$ 20,000
Goodwill				$ 542,235	542,235		$ 359,688
SPG
Business Acquisition [Line Items]
Inventory		$ 43,170
Inventory fair value step-up		$ 8,900
Amortization of Inventory Step-up				$ 3,300	3,500
Business Acquisition, Date of Acquisition Agreement		Jun. 25, 2018
Total Purchase Price		$ 352,400
Goodwill		$ 175,476
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		10 years
Identifiable Intangible Assets		$ 160,850
Payments to Acquire Businesses, Net of Cash Acquired		$ 341,200
Business Acquisition, Transaction Costs					$ 4,800
PSS
Business Acquisition [Line Items]
Inventory			$ 1,827
Business Acquisition, Date of Acquisition Agreement			Jan. 22, 2018
Total Purchase Price			$ 37,297
Goodwill			$ 8,804
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			9 years 5 months
Identifiable Intangible Assets			$ 25,600
Flex
Business Acquisition [Line Items]
Business Acquisition, Date of Acquisition Agreement	Jun. 26, 2018
Total Purchase Price	$ 1,900
Customer Relationships [Member] \| SPG
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		12 years
Identifiable Intangible Assets		$ 110,590
Technology-Based Intangible Assets [Member] \| SPG
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		9 years
Identifiable Intangible Assets		$ 23,240
Trade Names [Member] \| SPG
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		9 years
Identifiable Intangible Assets		$ 6,670
Other Intangible Assets [Member] \| SPG
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		11 months
Identifiable Intangible Assets		$ 20,350

Inventories (Detail) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 91,415	$ 58,226
Work-in process	35,009	16,193
Finished goods	137,666	123,670
Total inventories	$ 264,090	$ 198,089

Goodwill Rollforward (Details) $ in Thousands	9 Months Ended
Goodwill Rollforward (Details) $ in Thousands	Sep. 29, 2018 USD ($)
Goodwill [Line Items]
Goodwill - Beginning	$ 359,688
Addition due to acquisition	185,136
Foreign currency translation	(2,589)
Goodwill - End	542,235
Specialty Chemicals and Electronic Materials SCEM [Member]
Goodwill [Line Items]
Goodwill - Beginning	304,270
Addition due to acquisition	0
Foreign currency translation	(2,562)
Goodwill - End	301,708
Microcontamination Control [Member]
Goodwill [Line Items]
Goodwill - Beginning	8,007
Addition due to acquisition	175,476
Foreign currency translation	(27)
Goodwill - End	183,456
Advanced Materials Handling AMH [Member]
Goodwill [Line Items]
Goodwill - Beginning	47,411
Addition due to acquisition	9,660
Foreign currency translation	0
Goodwill - End	$ 57,071

Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
Gross carrying Amount	$ 649,430	$ 463,869
Accumulated amortization	326,051	281,439
Net carrying value	323,379	182,430
Developed Technology
Finite-Lived Intangible Assets
Gross carrying Amount	251,960	206,224
Accumulated amortization	169,625	149,215
Net carrying value	82,335	57,009
Trademarks and Trade names
Finite-Lived Intangible Assets
Gross carrying Amount	25,653	16,807
Accumulated amortization	14,471	13,712
Net carrying value	11,182	3,095
Customer Relationships [Member]
Finite-Lived Intangible Assets
Gross carrying Amount	331,059	220,806
Accumulated amortization	126,335	110,281
Net carrying value	204,724	110,525
Other Intangible Assets [Member]
Finite-Lived Intangible Assets
Gross carrying Amount	40,758	20,032
Accumulated amortization	15,620	8,231
Net carrying value	$ 25,138	$ 11,801

Goodwill and Intangible Assets Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
2018	$ 20,480
2019	65,973
2020	42,788
2021	36,102
2022	35,322
Thereafter	122,714
Intangible assets, net	$ 323,379	$ 182,430

Income Tax Rate reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Income Tax [Abstract]
Expected federal income tax expense at statutory rate	$ 12,492	$ 17,553	$ 40,892	$ 49,983
State income taxes before valuation allowance, net of federal tax effect	378	(119)	1,076	90
Effect of foreign source income	(4,771)	(7,372)	(7,117)	(18,017)
Tax contingencies	21	1,577	834	2,112
Valuation allowance	1,002	808	1,455	2,045
U.S. federal research credit	673	(3,026)	(901)	(4,174)
Equity compensation	147	(67)	(5,645)	(2,859)
Global Intangible Low Tax Income	1,102	0	3,051	0
Other items, net	383	(106)	1,110	221
Income tax expense	$ 11,427	$ 9,248	$ 34,755	$ 29,401

Income Tax Additional Details (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent			17.80%	20.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	35.00%
Global Intangible Low Tax Income	$ 1,102	$ 0	$ 3,051	$ 0

Reconciliation of Share Amount Used in Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Weighted shares outstanding:
Basic-weighted common shares outstanding	141,556	141,684	141,613	141,627
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,477	1,910	1,695	1,845
Diluted-weighted common shares and common shares equivalent outstanding	143,033	143,594	143,308	143,472

Shares Excluded Underlying Stock Based Award from Calucations of Diluted EPS (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from calculations of diluted EPS	295	355	253	293

Fair Value (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, asset	$ 584	$ 36
Total assets measured and recorded at fair value	584	36
Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, asset	584	36
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured and recorded at fair value	0	0
Fair Value, Inputs, Level 1 \| Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, asset	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured and recorded at fair value	584	36
Fair Value, Inputs, Level 2 \| Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, asset	584	36
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured and recorded at fair value	0	0
Fair Value, Inputs, Level 3 \| Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, asset	$ 0	$ 0

Information about Derivative Positions (Detail) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Derivative [Line Items]
Gross amounts of recognized assets	$ 584	$ 36
Gross amounts of recognized liabilities	0	0
Net amount of assets	$ 584	$ 36

Fair Value Losses associated with derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Gain (losses) on foreign currency contracts	$ 584	$ (132)	$ (699)	$ (2,245)

Summary of Financial Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Net Sales	$ 398,597	$ 345,591	$ 1,148,855	$ 991,970
Total Segment Profit	95,884	81,324	292,063	225,424
Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	131,234	124,522	396,313	360,131
Total Segment Profit	31,860	29,539	100,738	81,727
Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	151,345	116,113	394,663	320,575
Total Segment Profit	44,530	39,302	125,575	102,085
Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	116,018	104,956	357,879	311,264
Total Segment Profit	19,494	12,483	65,750	41,612
TAIWAN, PROVINCE OF CHINA
Segment Reporting Information [Line Items]
Net Sales	78,633	68,635	211,151	223,143
TAIWAN, PROVINCE OF CHINA \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	25,436	28,417	79,653	83,882
TAIWAN, PROVINCE OF CHINA \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	34,452	24,439	80,556	85,545
TAIWAN, PROVINCE OF CHINA \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	18,745	15,779	50,942	53,716
UNITED STATES
Segment Reporting Information [Line Items]
Net Sales	85,622	75,613	255,753	212,349
UNITED STATES \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	33,014	29,213	99,543	86,597
UNITED STATES \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	24,072	21,068	65,119	53,554
UNITED STATES \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	28,536	25,332	91,091	72,198
KOREA, REPUBLIC OF
Segment Reporting Information [Line Items]
Net Sales	59,839	58,659	187,311	157,980
KOREA, REPUBLIC OF \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	21,088	20,474	62,206	56,762
KOREA, REPUBLIC OF \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	18,893	17,769	58,698	46,156
KOREA, REPUBLIC OF \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	19,858	20,416	66,407	55,062
JAPAN
Segment Reporting Information [Line Items]
Net Sales	51,669	43,708	157,883	119,844
JAPAN \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	12,141	10,388	40,707	28,982
JAPAN \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	27,479	24,031	82,016	63,295
JAPAN \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	12,049	9,289	35,160	27,567
CHINA
Segment Reporting Information [Line Items]
Net Sales	58,290	42,695	145,583	106,384
CHINA \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	18,667	17,662	50,373	48,816
CHINA \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	27,360	13,862	56,417	31,817
CHINA \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	12,263	11,171	38,793	25,751
Europe [Member]
Segment Reporting Information [Line Items]
Net Sales	35,351	29,238	104,167	88,967
Europe [Member] \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	7,579	7,509	23,345	22,837
Europe [Member] \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	10,873	8,599	30,963	22,363
Europe [Member] \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	16,899	13,130	49,859	43,767
Southeast Asia [Member]
Segment Reporting Information [Line Items]
Net Sales	29,193	27,043	87,007	83,303
Southeast Asia [Member] \| Specialty Chemicals and Electronic Materials SCEM [Member]
Segment Reporting Information [Line Items]
Net Sales	13,309	10,859	40,486	32,255
Southeast Asia [Member] \| Microcontamination Control [Member]
Segment Reporting Information [Line Items]
Net Sales	8,216	6,345	20,894	17,845
Southeast Asia [Member] \| Advanced Materials Handling AMH [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 7,668	$ 9,839	$ 25,627	$ 33,203

Reconciliation of Total Segment Profit to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 29, 2018	Sep. 30, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Segment Profit	$ 95,884	$ 81,324	$ 292,063	$ 225,424
Amortization	21,419	11,051	45,102	33,003
Unallocated General And Administrative Expenses	6,490	9,618	25,580	21,756
Operating income	67,975	60,655	221,381	170,665
Interest expense	7,987	7,749	24,442	24,418
Interest income	(309)	(150)	(2,613)	(323)
Other income, net	810	2,906	4,826	3,762
Income before income tax expense	$ 59,487	$ 50,150	$ 194,726	$ 142,808