0001101302-21-000039 | 10-Q | XBRL Viewer

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 03, 2021	Apr. 23, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 03, 2021
Document Transition Report	false
Entity File Number	001-32598
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	129 Concord Road,
Entity Address, City or Town	Billerica,
Entity Address, State or Province	MA
Entity Tax Identification Number	41-1941551
Entity Address, Postal Zip Code	01821
City Area Code	978
Local Phone Number	436-6500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	ENTG
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		135,500,992
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Registrant Name	ENTEGRIS INC
Entity Central Index Key	0001101302
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 548,520	$ 580,893
Trade accounts and notes receivable, net of allowance for doubtful accounts of $2,718 and $2,384	282,649	264,392
Inventories, net	358,819	323,944
Deferred tax charges and refundable income taxes	20,227	21,136
Other current assets	34,391	43,892
Total current assets	1,244,606	1,234,257
Property, plant and equipment, net of accumulated depreciation of $592,146 and $574,257	542,605	525,367
Other assets:
Right-of-use assets	48,057	45,924
Goodwill	747,518	748,037
Intangible assets, net of accumulated amortization of $457,862 and $445,795	325,454	337,632
Deferred tax assets and other noncurrent tax assets	14,684	14,519
Other	10,615	11,960
Total assets	2,933,539	2,917,696
Current liabilities:
Accounts payable	93,045	81,618
Accrued payroll and related benefits	49,554	94,364
Other accrued liabilities	81,981	82,648
Income taxes payable	41,691	43,996
Total current liabilities	266,271	302,626
Long-term debt, excluding current maturities, net of unamortized discount and debt issuance costs of $8,814 and $9,217	1,086,186	1,085,783
Pension benefit obligations and other liabilities	36,663	36,457
Deferred tax liabilities and other noncurrent tax liabilities	73,133	73,606
Long-term lease liability	42,953	39,730
Commitments and contingent liabilities	0	0
Equity:
Preferred stock, par value $.01; 5,000,000 shares authorized; none issued and outstanding as of April 3, 2021 and December 31, 2020	0	0
Common stock, par value $.01; 400,000,000 shares authorized; issued and outstanding shares as of April 3, 2021: 135,395,571 and 135,193,171, respectively; issued and outstanding shares as of December 31, 2020: 135,148,774 and 134,946,374, respectively	1,354	1,351
Treasury stock, at cost: 202,400 shares held as of April 3, 2021 and December 31, 2020	(7,112)	(7,112)
Additional paid-in capital	837,622	844,850
Retained earnings	637,574	577,833
Accumulated other comprehensive loss	(41,105)	(37,428)
Total equity	1,428,333	1,379,494
Total liabilities and equity	$ 2,933,539	$ 2,917,696

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Trade accounts and notes receivable, allowance for doubtful accounts	$ 2,718	$ 2,384
Property, plant and equipment, accumulated depreciation	592,146	574,257
Intangible assets, Accumulated amortization	457,862	445,795
Unamortized discount and debt issuance costs	$ 8,814	$ 9,217
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	135,395,571	135,148,774
Common stock, shares outstanding	135,193,171	134,946,374
Treasury stock, shares outstanding	202,400	202,400

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Net Sales	$ 512,844	$ 412,327
Cost of sales	277,858	226,849
Gross profit	234,986	185,478
Selling, general and administrative expenses	71,389	58,891
Engineering, research and development expenses	37,748	29,632
Amortization of intangible assets	11,871	16,211
Operating income	113,978	80,744
Interest expense	11,652	10,559
Interest income	(71)	(321)
Other expense, net	4,330	878
Income before income tax expense	98,067	69,628
Income tax expense	13,391	8,622
Net income	$ 84,676	$ 61,006
Basic earnings per common share	$ 0.63	$ 0.45
Diluted earnings per common share	$ 0.62	$ 0.45
Weighted shares outstanding:
Basic	135,068	134,745
Diluted	136,502	136,369

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Net income	$ 84,676	$ 61,006
Other comprehensive loss, net of tax
Foreign currency translation adjustments	(3,716)	(9,361)
Pension liability adjustments	39	10
Other comprehensive loss	(3,677)	(9,351)
Comprehensive income	$ 80,999	$ 51,655

- Definition

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

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Condensed Consolidated Statements Of Equity Condensed Consolidatd Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock, Common	Additional Paid-in Capital	Retained Earnings	Foreign currency translation adjustments	Defined benefit pension adjustments
Balance (in shares) at Dec. 31, 2019		134,930	(202)
Balance at Dec. 31, 2019	$ 1,165,889	$ 1,349	$ (7,112)	$ 842,784	$ 366,127	$ (36,468)	$ (791)
Shares issued under stock plans (in shares)		483
Shares issued under stock plans	(10,889)	$ 5	0	(10,894)	0	0	0
Share-based compensation expense	4,994	$ 0	0	4,994	0	0	0
Repurchase and retirements of common stock (in shares)		(604)
Repurchase and retirements of common stock	(29,564)	$ (6)	0	(3,740)	(25,818)	0	0
Dividends declared	(10,758)	0	0		(10,773)	0	0
Dividends declared				15
Pension liability adjustments	10	0	0	0	0	0	10
Foreign currency translation adjustments	(9,361)	0	0	0	0	(9,361)	0
Net income	61,006	$ 0	$ 0	0	61,006	0	0
Balance (in shares) at Mar. 28, 2020		134,809	(202)
Balance at Mar. 28, 2020	1,171,327	$ 1,348	$ (7,112)	833,159	390,542	(45,829)	(781)
Balance (in shares) at Dec. 31, 2020		135,149	(202)
Balance at Dec. 31, 2020	1,379,494	$ 1,351	$ (7,112)	844,850	577,833	(36,588)	(840)
Shares issued under stock plans (in shares)		392
Shares issued under stock plans	(13,466)	$ 4	0	(13,470)	0	0	0
Share-based compensation expense	7,138	$ 0	0	7,138	0	0	0
Repurchase and retirements of common stock (in shares)		(145)
Repurchase and retirements of common stock	(15,000)	$ (1)	0	(904)	(14,095)	0	0
Dividends declared	(10,832)	0	0		(10,840)	0	0
Dividends declared				8
Pension liability adjustments	39	0	0	0	0	0	39
Foreign currency translation adjustments	(3,716)	0	0	0	0	(3,716)	0
Net income	84,676	$ 0	$ 0	0	84,676	0	0
Balance (in shares) at Apr. 03, 2021		135,396	(202)
Balance at Apr. 03, 2021	$ 1,428,333	$ 1,354	$ (7,112)	$ 837,622	$ 637,574	$ (40,304)	$ (801)

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.08	$ 0.08

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Operating activities:
Net income	$ 84,676	$ 61,006
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	22,095	20,648
Amortization	11,871	16,211
Share-based compensation expense	7,138	4,994
Provision for deferred income taxes	1,581	(64)
Charge for excess and obsolete inventory	3,249	3,605
Other	3,336	2,022
Changes in operating assets and liabilities:
Trade accounts and notes receivable	(21,564)	(43,995)
Inventories	(39,337)	(18,205)
Accounts payable and accrued liabilities	(28,591)	(38,020)
Other current assets	9,400	5,825
Income taxes payable and refundable income taxes	(3,588)	(225)
Other	2,849	(2,399)
Net cash provided by operating activities	53,115	11,403
Investing activities:
Acquisition of property, plant and equipment	(43,330)	(22,585)
Acquisition of businesses, net of cash acquired	0	75,630
Other	72	5
Net cash used in investing activities	(43,258)	(98,210)
Financing activities:
Proceeds from short-term borrowings	0	217,000
Payments of short-term borrowings	0	(75,000)
Payments for dividends	(10,908)	(10,847)
Issuance of common stock	1,572	551
Repurchase and retirement of common stock	(15,000)	(29,564)
Taxes paid related to net share settlement of equity awards	(15,038)	(11,440)
Deferred acquisition payments	0	(16,125)
Other	(1)	(2,890)
Net cash (used in) provided by financing activities	(39,375)	71,685
Effect of exchange rate changes on cash and cash equivalents	(2,855)	(1,712)
Decrease in cash and cash equivalents	(32,373)	(16,834)
Cash and cash equivalents at beginning of period	580,893	351,911
Cash and cash equivalents at end of period	548,520	335,077
Supplemental Cash Flow Information
Deferred acquisition payments	0	1,451
Equipment purchases in accounts payable	8,249	6,689
Changes in dividends payable	76	89
Schedule of interest and taxes paid
Interest paid	13,515	15,296
Income taxes paid, net of refunds received	$ 14,959	$ 7,997

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Apr. 03, 2021
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 supplier of advanced materials and process solutions for 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, right-of-use assets, goodwill, intangibles, accrued expenses, short-term and long-term lease liability, 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 April 3, 2021 and December 31, 2020, and the results of operations and comprehensive income for the three months ended April 3, 2021 and March 28, 2020, the equity statements as of and for the three months ended April 3, 2021 and March 28, 2020, and cash flows for the three months ended April 3, 2021 and March 28, 2020. 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, 2020. The results of operations for the three months ended April 3, 2021 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 $1,115.2 million at April 3, 2021, compared to the carrying amount of long-term debt, including current maturities, of $1,086.2 million at April 3, 2021. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Simplifying the Accounting for Income Taxes” under ASC 740, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. This guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within that fiscal year. The Company adopted this new guidance in the first quarter of fiscal 2021. The adoption of ASU 2019-12 did not have a material impact on the condensed consolidated financial statements. Recently Issued Accounting Pronouncements The Company currently has no material recent accounting pronouncements yet to be adopted.

Revenues Revenues

3 Months Ended

Apr. 03, 2021

Revenues [Abstract]

Revenue from Contract with Customer

REVENUES

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 sales.

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 Company makes the required disclosures with respect to deferred revenue below.

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 10 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 for 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 when the Company has satisfied the performance obligation. The payment terms and revenue recognized is based on time and materials.

The Company also enters into arrangements to license its intellectual property. These arrangements typically permit the customer to use a specialized manufacturing process or patented technology and in return the Company receives a royalty fee. The Company recognizes revenue for a sales-based or usage-based royalty promised in exchange for a license of intellectual property 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 recorded as deferred revenue on the balance sheet and is recognized as revenue when the free product is redeemed or when the likelihood of redemption is remote. The Company has deemed that the amount is immaterial for disclosure.

The Company provides for the estimated costs of fulfilling its 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 adjusts the amounts as necessary.

The Company’s contracts are generally short-term in nature. Most contracts’ terms 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)	April 3, 2021		December 31, 2020
Contract liabilities - current	$	19,077	$	13,852

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


	Three months ended
(In thousands)	April 3, 2021
Revenue recognized that was included in the contract liability balance at the beginning of the period	$	(9,713)
Increases due to cash received, excluding amounts recognized as revenue during the period	14,938

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 9
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Acquisition

3 Months Ended

Mar. 28, 2020

Business Combinations [Abstract]

Business Combination Disclosure

ACQUISITIONS

Global Measurement Technologies, Inc.

On July 10, 2020, the Company acquired Global Measurement Technologies, Inc. (“GMTI”), an analytical instrument provider for critical processes in semiconductor production, and its manufacturing partner Clean Room Plastics, Inc. GMTI reports into the Advanced Materials Handling segment of the Company. The acquisition was accounted for under the acquisition method of accounting, and GMTI’s results of operations are included in the Company’s condensed consolidated financial statements as of and since July 10, 2020. The acquisition does not constitute a material business combination.

The purchase price for GMTI includes cash consideration of $36.3 million, net of cash acquired, which was funded from the Company’s existing cash on hand.

The purchase price of GMTI exceeds the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed by $16.1 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 non-deductible for income tax purposes.

During the quarter ended September 26, 2020, the Company finalized its fair value determination of the assets acquired and the liabilities assumed. The following table summarizes the final allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of the acquisition:


(In thousands):	July 10, 2020
Trade accounts and note receivable, net	$	937
Inventories, net	1,079
Identifiable intangible assets	18,180
Right-of-use assets	337

Accounts payable and accrued liabilities	(28)
Short-term lease liability	(150)
Long-term lease liability	(187)
Net assets acquired	20,168
Goodwill	16,099
Total purchase price, net of cash acquired	$	36,267

The Company recognized the following finite-lived intangible assets as part of the acquisition of GMTI:


(In thousands)	Amount		Weighted average life in years
Developed technology	$	3,570	6.5
Trademarks and trade names	1,010		11.5
Customer relationships	13,600		15.5
	$	18,180	13.5

Sinmat

On January 10, 2020, the Company acquired Sinmat, a chemical mechanical polishing slurry manufacturer. Sinmat reports into the Specialty Chemicals and Engineered Materials segment of the Company. The acquisition was accounted for under the acquisition method of accounting and Sinmat’s results of operations are included in the Company’s condensed consolidated financial statements as of and since January 10, 2020. Costs associated with the acquisition of Sinmat were $0.7 million for the year ended March 28, 2020 and were expensed as incurred. These costs are included in the selling, general and administrative expenses in the Company’s condensed consolidated statement of operations. The acquisition does not constitute a material business combination.

The purchase price for Sinmat includes cash consideration of $76.2 million, or $75.6 million net of cash acquired, which was funded from the Company’s existing cash on hand.

The purchase price of Sinmat exceeds the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed by $31.7 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 non-deductible for income tax purposes.

During the quarter ended June 27, 2020, the Company finalized its fair value determination of the assets acquired and the liabilities assumed. The following table summarizes the provisional and final allocations of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of the acquisition date and as adjusted as of June 27, 2020, respectively:


(In thousands):	As of January 10, 2020		As of June 27, 2020
Trade accounts and note receivable, net	$	1,189	$	1,189
Inventories, net	1,010		1,010
Other current assets	8		8
Property, plant and equipment	63		63
Identifiable intangible assets	41,680		41,680
Right-of-use assets	1,712		1,712
Deferred tax asset	—		102
Accounts payable and accrued liabilities	(58)		(58)
Short-term lease liability	(150)		(150)
Long-term lease liability	(1,562)		(1,562)
Net assets acquired	43,892		43,994
Goodwill	31,751		31,651
Total purchase price, net of cash acquired	$	75,643	$	75,645

The Company recognized the following finite-lived intangible assets as part of the acquisition of Sinmat:


(In thousands)	Amount		Weighted average life in years
Developed technology	$	7,650	7.0
Trademarks and trade names	130		1.3
Customer relationships	33,900		15.0
	$	41,680	13.5

Inventories

3 Months Ended

Apr. 03, 2021

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consist of the following:


(In thousands)	April 3, 2021		December 31, 2020
Raw materials	$	124,799	$	97,319
Work-in process	36,980		32,316
Finished goods	197,040		194,309
Total inventories, net	$	358,819	$	323,944

Goodwill and Intangible Assets

3 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill activity for each of the Company’s reportable segments that carry goodwill, Specialty Chemicals and Engineered Materials (“SCEM”), Microcontamination Control (“MC”) and Advanced Materials Handling (“AMH”), for each period was as follows:


(In thousands)	Specialty Chemicals and Engineered Materials		Microcontamination Control		Advanced Materials Handling		Total
December 31, 2020	$	427,713	$	247,154	$	73,170	$	748,037


Foreign currency translation	(31)		(488)		—		(519)
April 3, 2021	$	427,682	$	246,666	$	73,170	$	747,518

Identifiable intangible assets at April 3, 2021 and December 31, 2020 consist of the following:


April 3, 2021
(In thousands)	Gross carrying Amount		Accumulated amortization		Net carrying value
Developed technology	$	283,228	$	224,340	$	58,888
Trademarks and trade names	30,087		18,887		11,200
Customer relationships	449,606		201,743		247,863
Other	20,395		12,892		7,503
	$	783,316	$	457,862	$	325,454


December 31, 2020
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value
Developed technology	$	283,272	$	221,651	$	61,621
Trademarks and trade names	30,100		18,374		11,726
Customer relationships	449,659		193,313		256,346
Other	20,396		12,457		7,939
	$	783,427	$	445,795	$	337,632

Future amortization expense during the remainder of 2021, each of the succeeding four years and thereafter relating to intangible assets currently recorded in the Company’s condensed consolidated balance sheets is estimated to be the following at April 3, 2021:


(In thousands)	Remaining 2021		2022	2023	2024	2025	Thereafter	Total
Future amortization expense	$	36,332	47,602	46,913	34,294	27,663	132,650	$	325,454

Earnings Per Common Share

3 Months Ended

Apr. 03, 2021

Earnings Per Share [Abstract]

Earnings Per Common Share

EARNINGS PER COMMON SHARE

Basic earnings per common share (“EPS”) is calculated based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is calculated based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per common share:


	Three months ended
(In thousands)	April 3, 2021	March 28, 2020
Basic—weighted common shares outstanding	135,068	134,745
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,434	1,624
Diluted—weighted common shares and common shares equivalent outstanding	136,502	136,369

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 months ended April 3, 2021 and March 28, 2020:

Three months ended

(In thousands)

April 3, 2021

March 28, 2020

Shares excluded from calculations of diluted EPS

140

252

Leases

3 Months Ended

Apr. 03, 2021

Leases [Abstract]

Leases

LEASES

As of April 3, 2021, the Company was obligated under operating lease agreements for certain sales offices and manufacturing facilities, manufacturing equipment, vehicles, information technology equipment and warehouse space. As of April 3, 2021, the Company does not have material finance leases. Our leases have remaining lease terms of 1 year to 13 years, some of which may include options to extend the lease for up to 6 years, and some of which may include options to terminate the leases within 1 year.

As of April 3, 2021 and December 31, 2020, the Company’s operating lease components with initial or remaining terms in excess of one year were classified on the condensed consolidated balance sheet as follows, together with certain supplemental balance sheet information:


(In thousands, except lease term and discount rate)	Classification	April 3, 2021			December 31, 2020
Assets
Right-of-use assets	Right-of-use assets	$	48,057		$	45,924
Liabilities
Short-term lease liability	Other accrued liabilities	8,903			9,960
Long-term lease liability	Long-term lease liability	42,953			39,730
Total lease liabilities		$	51,856		$	49,690
Lease Term and Discount Rate
Weighted average remaining lease term (years)		8.7			7.9
Weighted average discount rate		4.8		%	5.0		%

Expense for leases less than 12 months for the three months ended April 3, 2021 and March 28, 2020 were not material. The components of lease expense for the three months ended April 3, 2021 and March 28, 2020 are as follows:


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020

Operating lease cost	$	3,399	$	3,541

The Company combines the amortization of the right-of-use assets and the change in the operating lease liability in the same line item in the condensed consolidated statement of cash flows. Other information related to the Company’s operating leases for the three months ended April 3, 2021 and March 28, 2020 are as follows:


(In thousands)	April 3, 2021		March 28, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from leases	$	2,782	$	2,717
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5,082	$	912

Future minimum lease payments for noncancellable operating leases as of April 3, 2021, were as follows:


(In thousands)	Operating Leases
Remaining 2021	$	11,235
2022	8,037
2023	6,490
2024	5,654
2025	5,181
Thereafter	28,026
Total	64,623
Less: Interest	12,767
Present value of lease liabilities	$	51,856

Segment Reporting

3 Months Ended

Apr. 03, 2021

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 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 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 offers solutions to filter and purify critical liquid chemistries and gases used in semiconductor manufacturing processes and other high-technology industries.

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

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


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020
Net sales
SCEM	$	166,541	$	144,214
MC	207,099		159,261
AMH	148,541		116,137
Inter-segment elimination	(9,337)		(7,285)
Total net sales	$	512,844	$	412,327


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020
Segment profit
SCEM	$	34,556	$	32,670
MC	70,566		50,167
AMH	32,095		20,632
Total segment profit	$	137,217	$	103,469

The following table reconciles total segment profit to income before income tax expense:


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020
Total segment profit	$	137,217	$	103,469
Less:
Amortization of intangible assets	11,871		16,211
Unallocated general and administrative expenses	11,368		6,514
Operating income	113,978		80,744
Interest expense	11,652		10,559
Interest income	(71)		(321)
Other expense, net	4,330		878
Income before income tax expense	$	98,067	$	69,628

In the following tables, revenue is disaggregated by customers’ country or region for the three months ended April 3, 2021 and March 28, 2020, respectively.


	Three months ended April 3, 2021
(In thousands)	SCEM		MC		AMH		Inter-segment		Total
North America	$	49,064	$	34,592	$	45,465	$	(9,337)	$	119,784
Taiwan	28,679		44,830		27,806		—		101,315
China	20,662		41,689		20,577		—		82,928
South Korea	25,170		28,011		18,905		—		72,086
Japan	22,480		36,723		12,005		—		71,208
Europe	11,777		11,117		16,494		—		39,388
Southeast Asia	8,709		10,137		7,289		—		26,135
	$	166,541	$	207,099	$	148,541	$	(9,337)	$	512,844


	Three months ended March 28, 2020
(In thousands)	SCEM		MC		AMH		Inter-segment		Total
North America	$	46,550	$	28,680	$	33,403	$	(7,285)	$	101,348
Taiwan	25,182		42,483		24,801		—		92,466
China	15,510		18,197		11,639		—		45,346
South Korea	20,129		20,122		15,161		—		55,412
Japan	17,123		28,111		10,420		—		55,654
Europe	8,608		13,488		12,548		—		34,644
Southeast Asia	11,112		8,180		8,165		—		27,457
	$	144,214	$	159,261	$	116,137	$	(7,285)	$	412,327

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 34
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

Subsequent Events	3 Months Ended
Subsequent Events	Apr. 03, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENT On April 16, 2021, the Company announced that it had priced its private offering of $400.0 million aggregate principal amount of 3.625% senior unsecured notes due 2029 (the “2029 Notes”). The 2029 Notes will be senior unsecured obligations of the Company and will be guaranteed by certain subsidiaries of the Company. The issuance of the 2029 Notes is expected to close on April 30, 2021, subject to customary closing conditions. The Company expects the net proceeds of the offering to be approximately $394.0 million, after deducting estimated commissions and offering fees and expenses. The Company intends to use the net proceeds of the offering, together with cash on hand and approximately $75.0 million borrowed under the Company’s revolving credit facility (the “Revolving Facility”), to pay the redemption price for the redemption in full of the $550.0 million aggregate principal amount of 4.625% senior unsecured notes due 2026 that are currently outstanding. The redemption of the $550.0 million notes due 2026 is expected to result in a loss of $23.1 million on extinguishment of debt, which will be included in the Company’s condensed consolidated statement of operations. In connection with the Company’s issuance of the 2029 Notes, the Company intends to amend the Revolving Facility to provide for lending commitments in an aggregate principal amount of up to $400.0 million and to extend the maturity to April 30, 2026. The Revolving Facility currently provides for lending commitments in an aggregate principal amount of up to $300.0 million, maturing on November 6, 2023.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Apr. 03, 2021
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Entegris, Inc. (“Entegris”, “the Company”, “us”, “we”, or “our”) is a leading supplier of advanced materials and process solutions for 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, right-of-use assets, goodwill, intangibles, accrued expenses, short-term and long-term lease liability, 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 April 3, 2021 and December 31, 2020, and the results of operations and comprehensive income for the three months ended April 3, 2021 and March 28, 2020, the equity statements as of and for the three months ended April 3, 2021 and March 28, 2020, and cash flows for the three months ended April 3, 2021 and March 28, 2020. 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, 2020. The results of operations for the three months ended April 3, 2021 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 $1,115.2 million at April 3, 2021, compared to the carrying amount of long-term debt, including current maturities, of $1,086.2 million at April 3, 2021.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Simplifying the Accounting for Income Taxes” under ASC 740, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. This guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within that fiscal year. The Company adopted this new guidance in the first quarter of fiscal 2021. The adoption of ASU 2019-12 did not have a material impact on the condensed consolidated financial statements. Recently Issued Accounting Pronouncements The Company currently has no material recent accounting pronouncements yet to be adopted.

Revenues (Tables)

3 Months Ended

Apr. 03, 2021

Revenues [Abstract]

Contract with Customer, Asset and Liability


(In thousands)	April 3, 2021		December 31, 2020
Contract liabilities - current	$	19,077	$	13,852

Significant changes for contract balances

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


	Three months ended
(In thousands)	April 3, 2021
Revenue recognized that was included in the contract liability balance at the beginning of the period	$	(9,713)
Increases due to cash received, excluding amounts recognized as revenue during the period	14,938

Acquisition (Tables)

3 Months Ended

Apr. 03, 2021

GMTI Acquisition [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition


(In thousands):	July 10, 2020
Trade accounts and note receivable, net	$	937
Inventories, net	1,079
Identifiable intangible assets	18,180
Right-of-use assets	337

Accounts payable and accrued liabilities	(28)
Short-term lease liability	(150)
Long-term lease liability	(187)
Net assets acquired	20,168
Goodwill	16,099
Total purchase price, net of cash acquired	$	36,267

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The Company recognized the following finite-lived intangible assets as part of the acquisition of GMTI:


(In thousands)	Amount		Weighted average life in years
Developed technology	$	3,570	6.5
Trademarks and trade names	1,010		11.5
Customer relationships	13,600		15.5
	$	18,180	13.5

Sinmat Acquisition

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition


(In thousands):	As of January 10, 2020		As of June 27, 2020
Trade accounts and note receivable, net	$	1,189	$	1,189
Inventories, net	1,010		1,010
Other current assets	8		8
Property, plant and equipment	63		63
Identifiable intangible assets	41,680		41,680
Right-of-use assets	1,712		1,712
Deferred tax asset	—		102
Accounts payable and accrued liabilities	(58)		(58)
Short-term lease liability	(150)		(150)
Long-term lease liability	(1,562)		(1,562)
Net assets acquired	43,892		43,994
Goodwill	31,751		31,651
Total purchase price, net of cash acquired	$	75,643	$	75,645

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The Company recognized the following finite-lived intangible assets as part of the acquisition of Sinmat:


(In thousands)	Amount		Weighted average life in years
Developed technology	$	7,650	7.0
Trademarks and trade names	130		1.3
Customer relationships	33,900		15.0
	$	41,680	13.5

Inventories (Tables)

3 Months Ended

Apr. 03, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


(In thousands)	April 3, 2021		December 31, 2020
Raw materials	$	124,799	$	97,319
Work-in process	36,980		32,316
Finished goods	197,040		194,309
Total inventories, net	$	358,819	$	323,944

Goodwill and Intangible Assets (Tables)

3 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill


(In thousands)	Specialty Chemicals and Engineered Materials		Microcontamination Control		Advanced Materials Handling		Total
December 31, 2020	$	427,713	$	247,154	$	73,170	$	748,037


Foreign currency translation	(31)		(488)		—		(519)
April 3, 2021	$	427,682	$	246,666	$	73,170	$	747,518

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Identifiable intangible assets at April 3, 2021 and December 31, 2020 consist of the following:


April 3, 2021
(In thousands)	Gross carrying Amount		Accumulated amortization		Net carrying value
Developed technology	$	283,228	$	224,340	$	58,888
Trademarks and trade names	30,087		18,887		11,200
Customer relationships	449,606		201,743		247,863
Other	20,395		12,892		7,503
	$	783,316	$	457,862	$	325,454


December 31, 2020
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value
Developed technology	$	283,272	$	221,651	$	61,621
Trademarks and trade names	30,100		18,374		11,726
Customer relationships	449,659		193,313		256,346
Other	20,396		12,457		7,939
	$	783,427	$	445,795	$	337,632

Estimated Future Amortization Expense


(In thousands)	Remaining 2021		2022	2023	2024	2025	Thereafter	Total
Future amortization expense	$	36,332	47,602	46,913	34,294	27,663	132,650	$	325,454

Earnings Per Common Share (Tables)

3 Months Ended

Apr. 03, 2021

Earnings Per Share [Abstract]

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

The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per common share:


	Three months ended
(In thousands)	April 3, 2021	March 28, 2020
Basic—weighted common shares outstanding	135,068	134,745
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,434	1,624
Diluted—weighted common shares and common shares equivalent outstanding	136,502	136,369

Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS

Three months ended

(In thousands)

April 3, 2021

March 28, 2020

Shares excluded from calculations of diluted EPS

140

252

Leases (Tables)

3 Months Ended

Apr. 03, 2021

Leases [Abstract]

Lease Balance Sheet Information


(In thousands, except lease term and discount rate)	Classification	April 3, 2021			December 31, 2020
Assets
Right-of-use assets	Right-of-use assets	$	48,057		$	45,924
Liabilities
Short-term lease liability	Other accrued liabilities	8,903			9,960
Long-term lease liability	Long-term lease liability	42,953			39,730
Total lease liabilities		$	51,856		$	49,690
Lease Term and Discount Rate
Weighted average remaining lease term (years)		8.7			7.9
Weighted average discount rate		4.8		%	5.0		%

Components of Lease Expense

The components of lease expense for the three months ended April 3, 2021 and March 28, 2020 are as follows:


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020

Operating lease cost	$	3,399	$	3,541

Lease Cash Flow Information


(In thousands)	April 3, 2021		March 28, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from leases	$	2,782	$	2,717
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5,082	$	912

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments for noncancellable operating leases as of April 3, 2021, were as follows:


(In thousands)	Operating Leases
Remaining 2021	$	11,235
2022	8,037
2023	6,490
2024	5,654
2025	5,181
Thereafter	28,026
Total	64,623
Less: Interest	12,767
Present value of lease liabilities	$	51,856

Segment Reporting (Tables)

3 Months Ended

Apr. 03, 2021

Segment Reporting [Abstract]

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
(In thousands)	April 3, 2021		March 28, 2020
Net sales
SCEM	$	166,541	$	144,214
MC	207,099		159,261
AMH	148,541		116,137
Inter-segment elimination	(9,337)		(7,285)
Total net sales	$	512,844	$	412,327


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020
Segment profit
SCEM	$	34,556	$	32,670
MC	70,566		50,167
AMH	32,095		20,632
Total segment profit	$	137,217	$	103,469

Reconciliation of Total Segment Profit to Operating Income

The following table reconciles total segment profit to income before income tax expense:


	Three months ended
(In thousands)	April 3, 2021		March 28, 2020
Total segment profit	$	137,217	$	103,469
Less:
Amortization of intangible assets	11,871		16,211
Unallocated general and administrative expenses	11,368		6,514
Operating income	113,978		80,744
Interest expense	11,652		10,559
Interest income	(71)		(321)
Other expense, net	4,330		878
Income before income tax expense	$	98,067	$	69,628

Schedule of Revenue from External Customers, by Geographical Areas

In the following tables, revenue is disaggregated by customers’ country or region for the three months ended April 3, 2021 and March 28, 2020, respectively.


	Three months ended April 3, 2021
(In thousands)	SCEM		MC		AMH		Inter-segment		Total
North America	$	49,064	$	34,592	$	45,465	$	(9,337)	$	119,784
Taiwan	28,679		44,830		27,806		—		101,315
China	20,662		41,689		20,577		—		82,928
South Korea	25,170		28,011		18,905		—		72,086
Japan	22,480		36,723		12,005		—		71,208
Europe	11,777		11,117		16,494		—		39,388
Southeast Asia	8,709		10,137		7,289		—		26,135
	$	166,541	$	207,099	$	148,541	$	(9,337)	$	512,844


	Three months ended March 28, 2020
(In thousands)	SCEM		MC		AMH		Inter-segment		Total
North America	$	46,550	$	28,680	$	33,403	$	(7,285)	$	101,348
Taiwan	25,182		42,483		24,801		—		92,466
China	15,510		18,197		11,639		—		45,346
South Korea	20,129		20,122		15,161		—		55,412
Japan	17,123		28,111		10,420		—		55,654
Europe	8,608		13,488		12,548		—		34,644
Southeast Asia	11,112		8,180		8,165		—		27,457
	$	144,214	$	159,261	$	116,137	$	(7,285)	$	412,327

Summary of Significant Accounting Policies Additional details (Details) $ in Thousands	Apr. 03, 2021 USD ($)
Accounting Policies [Abstract]
Long-term Debt, Fair Value	$ 1,115,200
Long-term Debt	$ 1,086,200

Revenues Revenues - Contract balances (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Revenues [Abstract]
Contract liabilities - current	$ 19,077	$ 13,852

Revenues Revenues - Significant changes in contract liabilities (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2021 USD ($)
Revenues [Abstract]
Revenue recognized that was included in the contract liability balance at beginning of period	$ (9,713)
Increases due to cash received, excluding amounts recognized as revenue during the period	$ 14,938

Acquisition - GMTI (Details) - USD ($) $ in Thousands		3 Months Ended
Acquisition - GMTI (Details) - USD ($) $ in Thousands	Jul. 10, 2020	Apr. 03, 2021	Mar. 28, 2020	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 747,518		$ 748,037
Acquisition of businesses, net of cash acquired		$ 0	$ 75,630
GMTI Acquisition [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years 6 months
Trade accounts and notes receivable, net	$ 937
Inventories, net	1,079
Identifiable Intangible Assets	18,180
Right-of-use assets	337
Accounts Payable and accrued liabilities	(28)
Short-term lease liability	(150)
Long-term lease liability	(187)
Net assets acquired	20,168
Goodwill	16,099
Total purchase price, net of cash acquired	$ 36,267
Date of acquisition	Jul. 10, 2020
Acquisition of businesses, net of cash acquired	$ 36,300
GMTI Acquisition [Member] \| Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years 6 months
Identifiable Intangible Assets	$ 3,570
GMTI Acquisition [Member] \| Trademarks and Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	11 years 6 months
Identifiable Intangible Assets	$ 1,010
GMTI Acquisition [Member] \| Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years 6 months
Identifiable Intangible Assets	$ 13,600

Acquisition - Sinmat (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
Acquisition - Sinmat (Details) - USD ($) $ in Thousands	Jan. 10, 2020	Apr. 03, 2021	Mar. 28, 2020	Dec. 31, 2020
Business Combination, Separately Recognized Transactions [Line Items]
Acquisition of businesses, net of cash acquired		$ 0	$ 75,630
Goodwill		$ 747,518		$ 748,037
Sinmat Acquisition
Business Combination, Separately Recognized Transactions [Line Items]
Date of acquisition	Jan. 10, 2020
Costs associated with acquisition			$ 700
Payments to acquire business				76,200
Acquisition of businesses, net of cash acquired				75,600
Trade accounts and notes receivable, net	$ 1,189			1,189
Inventories, net	1,010			1,010
Other current assets	8			8
Property, Plant, and Equipment	63			63
Identifiable Intangible Assets	41,680			41,680
Right-of-use assets	1,712			1,712
Deferred tax assets	0			102
Accounts Payable and accrued liabilities	(58)			(58)
Short-term lease liability	(150)			(150)
Long-term lease liability	(1,562)			(1,562)
Net assets acquired	43,892			43,994
Goodwill	31,751			31,651
Total purchase price, net of cash acquired	$ 75,643			$ 75,645
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				13 years 6 months
Sinmat Acquisition \| Developed Technology
Business Combination, Separately Recognized Transactions [Line Items]
Identifiable Intangible Assets				$ 7,650
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				7 years
Sinmat Acquisition \| Trademarks and Trade names
Business Combination, Separately Recognized Transactions [Line Items]
Identifiable Intangible Assets				$ 130
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				1 year 3 months 18 days
Sinmat Acquisition \| Customer Relationships
Business Combination, Separately Recognized Transactions [Line Items]
Identifiable Intangible Assets				$ 33,900
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				15 years

Inventories (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 124,799	$ 97,319
Work-in process	36,980	32,316
Finished goods	197,040	194,309
Total inventories, net	$ 358,819	$ 323,944

Goodwill Rollforward (Details) $ in Thousands	3 Months Ended
Goodwill Rollforward (Details) $ in Thousands	Apr. 03, 2021 USD ($)
Goodwill [Line Items]
Goodwill - Beginning	$ 748,037
Foreign currency translation	(519)
Goodwill - End	747,518
Specialty Chemicals and Electronic Materials SCEM
Goodwill [Line Items]
Goodwill - Beginning	427,713
Foreign currency translation	(31)
Goodwill - End	427,682
Microcontamination Control MC
Goodwill [Line Items]
Goodwill - Beginning	247,154
Foreign currency translation	(488)
Goodwill - End	246,666
Advanced Materials Handling AMH
Goodwill [Line Items]
Goodwill - Beginning	73,170
Foreign currency translation	0
Goodwill - End	$ 73,170

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets
Gross carrying Amount	$ 783,316	$ 783,427
Accumulated amortization	457,862	445,795
Net carrying value	325,454	337,632
Developed Technology
Finite-Lived Intangible Assets
Gross carrying Amount	283,228	283,272
Accumulated amortization	224,340	221,651
Net carrying value	58,888	61,621
Trademarks and Trade names
Finite-Lived Intangible Assets
Gross carrying Amount	30,087	30,100
Accumulated amortization	18,887	18,374
Net carrying value	11,200	11,726
Customer Relationships
Finite-Lived Intangible Assets
Gross carrying Amount	449,606	449,659
Accumulated amortization	201,743	193,313
Net carrying value	247,863	256,346
Other Intangible Assets
Finite-Lived Intangible Assets
Gross carrying Amount	20,395	20,396
Accumulated amortization	12,892	12,457
Net carrying value	$ 7,503	$ 7,939

Goodwill and Intangible Assets Goodwill and Intangible Assets - Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2021	$ 36,332
2022	47,602
2023	46,913
2024	34,294
2025	27,663
Thereafter	132,650
Total	$ 325,454	$ 337,632

Earnings Per Common Share - Reconciliation of Share Amount Used in Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - shares shares in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Weighted shares outstanding:
Basic-weighted common shares outstanding	135,068	134,745
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,434	1,624
Diluted-weighted common shares and common shares equivalent outstanding	136,502	136,369

Earnings per Common Share - Shares Excluded Underlying Stock Based Award from Calucations of Diluted EPS (Detail) - shares shares in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Earnings Per Share [Abstract]
Shares excluded from calculations of diluted EPS	140	252

Leases - Lease Balances (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Right-of-use assets	$ 48,057	$ 45,924
Long-term lease liability	42,953	39,730
Total lease liabilities	$ 51,856	$ 49,690
Weighted Average Remaining Lease Term (years)	8 years 8 months 12 days	7 years 10 months 24 days
Weighted Average Discount Rate	4.80%	5.00%
Right-of-use assets
Lessee, Lease, Description [Line Items]
Right-of-use assets	$ 48,057	$ 45,924
Accrued Liabilities
Lessee, Lease, Description [Line Items]
Short-term lease liability	8,903	9,960
Long-term lease
Lessee, Lease, Description [Line Items]
Long-term lease liability	$ 42,953	$ 39,730

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Leases [Abstract]
Operating lease cost	$ 3,399	$ 3,541

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Lessee, Lease, Description [Line Items]
Lease term renewal	6 years
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 5,082	$ 912
Lease termination option term	options to terminate the leases within 1 year
Operating cash flows from leases	$ 2,782	$ 2,717
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	13 years

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Leases [Abstract]
Remaining 2021	$ 11,235
2022	8,037
2023	6,490
2024	5,654
2025	5,181
Thereafter	28,026
Total	64,623
Less: Interest	12,767
Present value of lease liabilities	$ 51,856	$ 49,690

Segment Reporting - Summary of Financial Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Segment Reporting Information [Line Items]
Net Sales	$ 512,844	$ 412,327
Total Segment Profit	137,217	103,469
Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	166,541	144,214
Total Segment Profit	34,556	32,670
Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	207,099	159,261
Total Segment Profit	70,566	50,167
Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	148,541	116,137
Total Segment Profit	32,095	20,632
intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	$ (9,337)	$ (7,285)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment Reporting - Reconciliation of Total Segment Profit to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Segment Reporting [Abstract]
Total Segment Profit	$ 137,217	$ 103,469
Amortization	11,871	16,211
Unallocated general and administrative expenses	11,368	6,514
Operating income	113,978	80,744
Interest expense	11,652	10,559
Interest income	(71)	(321)
Other expense, net	4,330	878
Income before income tax expense	$ 98,067	$ 69,628

Segment Reporting - Summary of Financial Information by Reportable Segment and Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Segment Reporting Information [Line Items]
Net Sales	$ 512,844	$ 412,327
Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	166,541	144,214
Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	207,099	159,261
Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	148,541	116,137
intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	(9,337)	(7,285)
North America
Segment Reporting Information [Line Items]
Net Sales	119,784	101,348
North America \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	49,064	46,550
North America \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	34,592	28,680
North America \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	45,465	33,403
North America \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	(9,337)	(7,285)
Taiwan
Segment Reporting Information [Line Items]
Net Sales	101,315	92,466
Taiwan \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	28,679	25,182
Taiwan \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	44,830	42,483
Taiwan \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	27,806	24,801
Taiwan \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0
South Korea
Segment Reporting Information [Line Items]
Net Sales	72,086	55,412
South Korea \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	25,170	20,129
South Korea \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	28,011	20,122
South Korea \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	18,905	15,161
South Korea \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0
Japan
Segment Reporting Information [Line Items]
Net Sales	71,208	55,654
Japan \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	22,480	17,123
Japan \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	36,723	28,111
Japan \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	12,005	10,420
Japan \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0
China
Segment Reporting Information [Line Items]
Net Sales	82,928	45,346
China \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	20,662	15,510
China \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	41,689	18,197
China \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	20,577	11,639
China \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0
Europe
Segment Reporting Information [Line Items]
Net Sales	39,388	34,644
Europe \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	11,777	8,608
Europe \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	11,117	13,488
Europe \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	16,494	12,548
Europe \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0
Southeast Asia
Segment Reporting Information [Line Items]
Net Sales	26,135	27,457
Southeast Asia \| Specialty Chemicals and Electronic Materials SCEM
Segment Reporting Information [Line Items]
Net Sales	8,709	11,112
Southeast Asia \| Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	10,137	8,180
Southeast Asia \| Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	7,289	8,165
Southeast Asia \| intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	$ 0	$ 0

Subsequent Events (Details) - USD ($) $ in Thousands		3 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Apr. 16, 2021	Apr. 03, 2021
Subsequent Event [Line Items]
Line of Credit Facility, Expiration Date		Nov. 06, 2023
Line of Credit Facility, Maximum Borrowing Capacity		$ 300,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Subsequent Event, Date	Apr. 16, 2021
Repayments of Debt	$ 75,000
Gain (Loss) on Extinguishment of Debt	$ 23,100
Line of Credit Facility, Expiration Date	Apr. 30, 2026
Line of Credit Facility, Maximum Borrowing Capacity	$ 400,000
Senior Unsecured Notes 2029 \| Subsequent Event [Member]
Subsequent Event [Line Items]
Long-term Debt, Gross	$ 400,000
Debt Instrument, Interest Rate, Stated Percentage	3.625%
Proceeds from Issuance of Debt	$ 394,000
Senior Unsecured Notes 2026
Subsequent Event [Line Items]
Long-term Debt, Gross		$ 550,000