Novanta (NOVT) 10-K 27 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 19, 2019	Jun. 29, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Trading Symbol	NOVT
Entity Registrant Name	NOVANTA INC
Entity Central Index Key	1,076,930
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,900,599
Entity Public Float			$ 1,779,955,516

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 82,043	$ 100,057
Accounts receivable, net of allowance of $321 and $554, respectively	83,955	81,482
Inventories	104,764	91,278
Prepaid income taxes and income taxes receivable	1,852	4,387
Prepaid expenses and other current assets	9,155	10,675
Total current assets	281,769	287,879
Property, plant and equipment, net	65,464	61,718
Deferred tax assets	9,492	7,052
Other assets	2,269	4,018
Intangible assets, net	142,920	155,048
Goodwill	217,662	210,988
Total assets	719,576	726,703
Current Liabilities
Current portion of long-term debt	4,535	9,119
Accounts payable	50,733	39,793
Income taxes payable	2,633	5,942
Accrued expenses and other current liabilities	46,295	43,314
Total current liabilities	104,196	98,168
Long-term debt	202,843	225,500
Deferred tax liabilities	22,632	25,672
Income taxes payable	4,463	3,754
Other liabilities	17,187	15,141
Total liabilities	351,321	368,235
Commitments and Contingencies (Note 17)
Redeemable noncontrolling interest		46,923
Stockholders’ Equity:
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 34,886 and 34,595, respectively	423,856	423,856
Additional paid-in capital	46,018	33,309
Accumulated deficit	(79,092)	(127,740)
Accumulated other comprehensive loss	(22,527)	(17,880)
Total stockholders’ equity	368,255	311,545
Total liabilities, noncontrolling interest and stockholders’ equity	$ 719,576	$ 726,703

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$ 321	$ 554
Common shares, Authorized	Unlimited	Unlimited
Common shares, no par value	$ 0	$ 0
Common shares, Issued	34,886	34,595
Common shares, outstanding	34,886	34,595

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenue	$ 614,337	$ 521,290	$ 384,758
Cost of revenue	352,809	300,759	222,306
Gross profit	261,528	220,531	162,452
Operating expenses:
Research and development and engineering	51,024	41,673	32,002
Selling, general and administrative	115,900	101,654	81,299
Amortization of purchased intangible assets	15,550	12,096	8,251
Restructuring, acquisition and divestiture related costs	8,041	7,542	7,945
Total operating expenses	190,515	162,965	129,497
Operating income	71,013	57,566	32,955
Interest income (expense), net	(9,814)	(7,165)	(4,559)
Foreign exchange transaction gains (losses), net	147	(447)	2,317
Other income (expense), net	(44)	(229)	1,809
Gain on acquisition of business		26,409
Income before income taxes	61,302	76,134	32,522
Income tax provision	10,207	13,827	10,519
Consolidated net income	51,095	62,307	22,003
Less: Net income attributable to noncontrolling interest	(1,986)	(2,256)
Net income attributable to Novanta Inc.	$ 49,109	$ 60,051	$ 22,003
Earnings per common share attributable to Novanta Inc. (Note 10):
Basic	$ 1.46	$ 1.14	$ 0.63
Diluted	$ 1.43	$ 1.13	$ 0.63
Weighted average common shares outstanding—basic	34,913	34,817	34,694
Weighted average common shares outstanding—diluted	35,473	35,280	34,914

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Consolidated net income		$ 51,095	$ 62,307	$ 22,003
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	[1]	(4,172)	8,909	(7,524)
Pension liability adjustments, net of tax	[2]	(475)	926	(1,361)
Total other comprehensive income (loss)		(4,647)	9,835	(8,885)
Total consolidated comprehensive income		46,448	72,142	13,118
Less: Comprehensive income attributable to noncontrolling interest		(1,986)	(2,256)
Comprehensive income attributable to Novanta Inc.		$ 44,462	$ 69,886	$ 13,118
[1]	The tax effect on this component of comprehensive income was ($93), ($94) and $36 in 2018, 2017 and 2016, respectively.
[2]	The tax effect on this component of comprehensive income was ($153), $277 and ($462) in 2018, 2017 and 2016, respectively.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments - Tax effect on component of comprehensive income	$ (93)	$ (94)	$ 36
Pension liability adjustments, tax effect on the component of comprehensive income	$ (153)	$ 277	$ (462)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Dec. 31, 2015	$ 244,701	$ 423,856	$ 29,225	$ (18,830)	$ (189,550)
Balance (in shares) at Dec. 31, 2015		34,345
Net income	22,003				22,003
Common stock issued under stock plans	181		181
Common stock issued under stock plans (in shares)		351
Shares withheld for taxes on vested stock awards	(1,789)		(1,789)
Shares withheld for taxes on vested stock awards (in shares)		(129)
Repurchases of common stock	(1,634)		(1,634)
Repurchases of common stock (in shares)		(109)
Share-based compensation	4,293		4,293
Other comprehensive income (loss), net of tax	(8,885)			(8,885)
Balance at Dec. 31, 2016	258,870	$ 423,856	30,276	(27,715)	(167,547)
Balance (in shares) at Dec. 31, 2016		34,458
Net income	60,051				60,051
Redeemable noncontrolling interest redemption value adjustment (Note 5)	(20,244)				(20,244)
Common stock issued under stock plans (in shares)		228
Shares withheld for taxes on vested stock awards	(2,090)		(2,090)
Shares withheld for taxes on vested stock awards (in shares)		(77)
Repurchases of common stock	(370)		(370)
Repurchases of common stock (in shares)		(14)
Share-based compensation	5,493		5,493
Other comprehensive income (loss), net of tax	9,835			9,835
Balance at Dec. 31, 2017	311,545	$ 423,856	33,309	(17,880)	(127,740)
Balance (in shares) at Dec. 31, 2017		34,595
Net income	49,109				49,109
Redeemable noncontrolling interest redemption value adjustment (Note 5)	1,781				1,781
Acquisition of noncontrolling interest	14,401		14,401
Acquisition of noncontrolling interest (in shares)		213
Common stock issued under stock plans (in shares)		231
Shares withheld for taxes on vested stock awards	(3,556)		(3,556)
Shares withheld for taxes on vested stock awards (in shares)		(64)
Repurchases of common stock	(5,850)		(5,850)
Repurchases of common stock (in shares)		(89)
Share-based compensation	7,714		7,714
Adoption of ASU 2016-16 | ASU 2016-16	(2,242)				(2,242)
Other comprehensive income (loss), net of tax	(4,647)			(4,647)
Balance at Dec. 31, 2018	$ 368,255	$ 423,856	$ 46,018	$ (22,527)	$ (79,092)
Balance (in shares) at Dec. 31, 2018		34,886

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Consolidated net income	$ 51,095	$ 62,307	$ 22,003
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	37,052	30,758	20,357
Provision for inventory excess and obsolescence	1,898	1,421	3,091
Share-based compensation	7,714	5,493	4,293
Deferred income taxes	(6,076)	(2,560)	(1,766)
Earnings from equity-method investment		(104)	(2,191)
Dividend from equity-method investment			2,341
Gain on acquisition of business		(26,409)
(Gain) loss on sale of fixed assets	106	36	(1,707)
Contingent consideration adjustments		425	1,267
Inventory acquisition fair value adjustment		4,754	173
Non-cash interest expense	955	825	882
Other non-cash items	(165)	283	813
Changes in assets and liabilities which provided/(used) cash, excluding effects from businesses acquisitions:
Accounts receivable	(1,156)	(2,077)	(6,394)
Inventories	(15,603)	(13,587)	(2,917)
Prepaid expenses and other current assets	1,350	(2,169)	(1,729)
Prepaid income taxes and income taxes receivable	2,165	(2,282)	462
Accounts payable, income taxes payable, accrued expenses and other current liabilities	11,238	8,993	10,590
Other non-current assets and liabilities	(926)	(2,729)	(1,780)
Cash provided by operating activities	89,647	63,378	47,788
Cash flows from investing activities:
Purchases of property, plant and equipment	(14,658)	(9,094)	(8,462)
Acquisition of businesses, net of cash acquired and working capital adjustments	(29,600)	(168,332)	(8,958)
Acquisition of assets	(1,599)		(3,980)
Release of escrow from sale of business			1,498
Proceeds from sale of property, plant and equipment	267	46	7,037
Cash used in investing activities	(45,590)	(177,380)	(12,865)
Cash flows from financing activities:
Borrowings under revolving credit facility	55,253	176,769
Repayments of term loan and revolving credit facility	(74,648)	(26,925)	(16,250)
Payments of debt issuance costs		(655)	(2,523)
Payments of withholding taxes from stock-based awards	(3,556)	(2,090)	(1,789)
Payments of contingent considerations		(2,546)
Repurchases of common stock	(5,850)	(370)	(1,634)
Acquisition of noncontrollling interest	(30,800)
Other financing activities	(563)	(853)	(993)
Cash provided by (used in) financing activities	(60,164)	143,330	(23,189)
Effect of exchange rates on cash and cash equivalents	(1,907)	2,621	(3,585)
Increase (decrease) in cash and cash equivalents	(18,014)	31,949	8,149
Cash and cash equivalents, beginning of year	100,057	68,108	59,959
Cash and cash equivalents, end of year	82,043	100,057	68,108
Supplemental disclosure of cash flow information:
Cash paid for interest	8,924	5,832	2,917
Cash paid for income taxes	20,323	21,121	14,058
Income tax refunds received	3,011	337	932
Supplemental disclosure of non-cash investing activity:
Accrual for capital expenditures	$ 1,187	$ 1,601	$ 1,253

Organization and Presentation

Organization and Presentation	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Organization and Presentation	1. Organization and Presentation Novanta Inc. and its subsidiaries (collectively referred to as “Novanta”, the “Company”, “we”, “us”, “our”) is a leading global supplier of core technology solutions that give medical and advanced industrial original equipment manufacturers (“OEMs”) a competitive advantage. Novanta combines deep proprietary technology expertise and competencies in photonics, vision and precision motion with a proven ability to solve complex technical challenges. This enables Novanta to engineer core components and sub-systems that deliver extreme precision and performance, tailored to the customers’ demanding applications. Basis of Presentation These consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with accounting principles generally accepted in the U.S., applied on a consistent basis. The consolidated financial statements include the accounts of Novanta Inc. and its subsidiaries. Intercompany accounts and transactions have been eliminated. Prior to January 10, 2017, the Company had an approximately 41% ownership interest in Laser Quantum Limited (“Laser Quantum”), a privately held company located in the United Kingdom, which was accounted for under the equity method of accounting. During the years ended December 31, 2017 and 2016, the Company recognized income from its equity method investment amounting to $0.1 million and $2.2 million, respectively, which was included in other income (expense) in the accompanying consolidated statements of operations. On January 10, 2017, the Company acquired an additional approximately 35% of the outstanding shares of Laser Quantum. As a result of this transaction, the Company’s ownership position in Laser Quantum increased from approximately 41% to approximately 76%. Since January 10, 2017, Laser Quantum has been consolidated in the Company’s consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Estimates and assumptions are reviewed on an on-going basis and the effects of revisions are reflected in the period in which they are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates. Foreign Currency Translation The financial statements of the Company and its subsidiaries outside the U.S. have been translated into U.S. dollars. Assets and liabilities of foreign operations are translated from foreign currencies into U.S. dollars at the exchange rates in effect as of the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates for the period. Accordingly, gains and losses resulting from translating foreign currency financial statements are reported as cumulative translation adjustments, a separate component of other comprehensive income (loss) in stockholders’ equity. Foreign currency transaction gains and losses, from transactions denominated in currencies other than the functional currencies, are included in the accompanying consolidated statements of operations. Cash Equivalents Cash equivalents are highly liquid investments with original maturities of three months or less. These investments are carried at cost, which approximates fair value. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amounts, net of an allowance for doubtful accounts based on the Company’s best estimate of probable credit losses resulting from the inability of the Company’s customers to make required payments. The Company determines the allowance based on a variety of factors, including the age of amounts outstanding relative to their contractual due date, specific customer factors, and other known risks and economic trends. Charges related to the allowance for doubtful accounts are included as selling, general and administrative expenses and are recorded in the period that the outstanding receivables are determined to be uncollectible. Account balances are charged off against the allowance when the Company believes it is certain that the receivable will not be recovered. For the years ended December 31, 2018, 2017 and 2016, changes in the allowance for doubtful accounts were as follows (in thousands): 2018 2017 2016 Balance at beginning of year $ 554 $ 565 $ 500 Provision charged to selling, general and administrative expenses 66 283 135 Allowance resulting from acquisitions — 52 15 Write-offs, net of recoveries of amounts previously reserved (295 ) (358 ) (82 ) Exchange rate changes (4 ) 12 (3 ) Balance at end of year $ 321 $ 554 $ 565 Inventories Inventories, which include materials and conversion costs, are stated at the lower of cost or net realizable value, using the first-in, first-out method. Cost includes the cost of purchased materials, inbound freight charges, external and internal processing and applicable labor and overhead costs. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company periodically reviews quantities of inventories on hand and compares these amounts to the expected use of each product. The Company records a charge to cost of revenue for the amount required to reduce the carrying value of inventory to the net realizable value. Property, Plant and Equipment Property, plant and equipment are recorded at cost, adjusted for any impairment, less accumulated depreciation. The Company uses the straight-line method to calculate the depreciation of its property, plant and equipment over their estimated useful lives. Estimated useful lives range from 3 to 30 years for buildings and building improvements and 3 to 10 years for machinery and equipment. Leasehold improvements are depreciated over the lesser of their useful lives or the lease terms, including any renewal period options that are reasonably assured of being exercised. Repairs and maintenance costs are expensed as incurred. Certain costs to develop software for internal use are capitalized when the criteria under Accounting Standards Codification (“ASC”) 350-40, “Internal-Use Software,” are met. Lease arrangements meeting the criteria of ASC 840-30, “Leases – Capital Leases,” are capitalized based on the present value of future minimum lease payments and depreciated over the term of the lease. Goodwill, Intangible Assets and Long-Lived Assets Goodwill represents the excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities acquired in a business combination. Allocations of the purchase price are based upon a valuation of the fair value of assets acquired and liabilities assumed as of the acquisition date. Goodwill and indefinite-lived intangibles are not amortized but are assessed for impairment at least annually to ensure their current fair values exceed their carrying values. The Company’s most significant intangible assets are customer relationships, patents and developed technologies, trademarks and trade names. The fair values of intangible assets are based on valuations using an income approach, with estimates and assumptions provided by management of the acquired companies and the Company. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including estimating future cash flows and developing appropriate discount rates. All definite-lived intangible assets are amortized over the periods in which their economic benefits are expected to be realized. The Company reviews the useful life assumptions, including the classification of certain intangible assets as “indefinite-lived”, on a periodic basis to determine if changes in circumstances warrant revisions to them. Costs associated with patent and intellectual property applications, renewals or extensions are expensed as incurred. The Company evaluates its goodwill, intangible assets and other long-lived assets for impairment at the reporting unit level which is at least one level below our reportable segments. Impairment Charges Impairment analyses of goodwill and indefinite-lived intangible assets are conducted in accordance with ASC 350, “Intangibles —Goodwill and Other.” During the second quarter of 2018, the Company adopted Accounting Standards Update (“ASU”) 2017-14, “Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which eliminates Step Two of the goodwill impairment test. The Company performs its goodwill impairment test annually as of the beginning of the second quarter or more frequently if indicators are present, or changes in circumstances suggest, that an impairment may exist. The Company has the option of first performing a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. In performing the qualitative assessment, the Company reviews factors both specific to the reporting unit and to the Company as a whole, such as financial performance, macroeconomic conditions, industry and market considerations, and the fair value of each reporting unit at the last valuation date. If the Company elects this option and believes, as a result of the qualitative assessment, that it is more likely than not that the carrying value of the reporting unit exceeds its fair value, the quantitative impairment test is required; otherwise, no further testing is required. Alternatively, the Company may elect to bypass the qualitative assessment and perform the quantitative impairment test. This approach requires a comparison of the carrying value of each of the Company’s reporting units to the estimated fair value of these reporting units. The fair value of a reporting unit is estimated primarily using a discounted cash flow (“DCF”) method with a weighted average cost of capital. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recorded for the difference. The Company assesses indefinite-lived intangible assets for impairment on an annual basis as of the beginning of the second quarter, and more frequently if indicators are present, or changes in circumstances suggest, that an impairment may exist. The Company will also reassess the continuing classification of these indefinite-lived intangible assets as indefinite-lived when circumstances change such that the useful life may no longer be considered indefinite. The fair values of the Company’s indefinite-lived intangible assets are determined using the relief from royalty method, based on forecasted revenues. If the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset. The carrying amounts of definite-lived long-lived assets are reviewed for impairment whenever changes in events or circumstances indicate that their carrying values may not be recoverable. The recoverability of the carrying value is generally determined by comparison of the asset group’s carrying value to its undiscounted future cash flows. When this test indicates a potential for impairment, a fair value assessment is performed. Once an impairment is determined and measured, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset. Revenue Recognition See Note 3 for the Company’s revenue recognition policy. Research and Development and Engineering Costs Research and development and engineering (“R&D”) expenses are primarily comprised of employee related expenses and cost of materials for R&D projects. These costs are expensed as incurred. Share-Based Compensation The Company records the expense associated with share-based compensation awards to employees and directors based on the fair value of awards as of the grant date. For share-based compensation awards that vest over time based on employment, the associated expenses are recognized in the consolidated statements of operations ratably over the vesting period, net of estimated forfeitures. The Company also grants two types of performance-based awards to certain members of the executive management team: non-GAAP earnings per share performance-based restricted stock units (“EPS-PSUs”) and relative total shareholder return performance-based restricted stock units (“TSR-PSUs”). Share-based compensation expense associated with EPS-PSUs is recognized ratably over the vesting period when it is probable that the performance targets are expected to be achieved based on management’s projections. Management’s projections are revised, if necessary, in subsequent periods when underlying factors change the evaluation of the probability of achieving the performance targets. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be required. Accordingly, share-based compensation expense associated with EPS-PSUs may differ significantly from period to period based on changes to the probability of achieving performance targets. Share-based compensation expense associated with TSR-PSUs is based on the fair value of the TSR-PSUs, determined using the Monte-Carlo valuation model, as of the grant date and is recognized on a straight-line basis from the grant date to the end of the performance period. Compensation expense will not be affected by the number of TSR-PSUs that will actually vest at the end of the performance period. Advertising Costs Advertising costs are expensed to selling, general and administrative expenses as incurred and were not material for 2018, 2017 and 2016. Restructuring, Acquisition and Divestiture Related Costs The Company accounts for its restructuring activities in accordance with the provisions of ASC 420, “Exit or Disposal Cost Obligations.” The Company makes assumptions related to the amounts of employee severance benefits and related costs, time period over which facilities will remain vacant, useful lives and residual value of long-lived assets, sublease terms, sublease rental rates and discount rates. Estimates and assumptions are based on the best information available at the time the obligation is recognized. These estimates are reviewed and revised as facts and circumstances dictate. Acquisition related costs incurred to effect a business combination, including finders’ fees, legal, valuation and other professional or consulting fees, are expensed as incurred. Acquisition related costs also include expenses recognized under earn-out agreements in connection with acquisitions. Expenses associated with divestiture activities, including legal and professional fees directly related to the completion of a business divestiture, are expensed as incurred. Accounting for Income Taxes The asset and liability method is used to account for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits, such as net operating loss carryforwards, to the extent that it is more likely than not that such benefits will be realized. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that some or all of the related tax benefits will not be realized in the future. Valuation allowances are reassessed periodically to determine whether it is more likely than not that the tax benefits will be realized in the future and that any valuation allowance should be released. The majority of the Company’s business activities are conducted through its subsidiaries outside of Canada. Earnings from these subsidiaries are generally indefinitely reinvested in the local businesses. Further, local laws and regulations may also restrict certain subsidiaries from paying dividends to their parents. As such, the Company generally does not accrue income taxes for the repatriation of such earnings in accordance with ASC 740, “Income Taxes.” To the extent that there are excess accumulated earnings that the Company intends to repatriate from any such subsidiaries, the Company recognizes deferred tax liabilities on such foreign earnings. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on the evaluation of the facts, circumstances, and information available at each reporting date. For those tax positions with a greater than 50 percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information, the Company records a tax benefit. For those income tax positions that are not likely to be sustained, no tax benefit is recognized in the consolidated financial statements. The Company recognizes interest and penalties related to uncertain tax positions as part of the provision for income taxes. Foreign Currency Contracts The Company uses foreign currency contracts as a part of its strategy to limit its exposures related to foreign currency denominated monetary assets and liabilities. The time duration of these foreign currency contracts approximates the underlying foreign currency transaction exposures, generally less than three months. These contracts are not designated as cash flow, fair value or net investment hedges. Changes in the fair value of these foreign currency contracts are recognized in income before income taxes. Recent Accounting Pronouncements Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In March 2018, the FASB issued ASU 2018-05, “Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118.” ASU 2018-05 allows SEC registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to the complexities involved in accounting for the income tax effects of the U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”). Companies have up to one year from the enactment of the Tax Reform Act (the “measurement period”) to obtain, prepare, and analyze the information that is needed in order to complete the accounting under ASC Topic 740. Any provisional amounts or adjustments to provisional amounts during the measurement period should be included in income from operations as an adjustment to tax provision (benefit) in the reporting period in which the amounts are determined. January 1, 2018. The Company adopted ASU 2018-05 during the first quarter of 2018. The adoption of ASU 2018-05 did not have a material impact on the Company’s consolidated financial statements. See Note 15. In February 2018, the FASB issued ASU 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” ASU 2018-02 allows an entity to reclassify the income tax effects of the Tax Reform Act on items within accumulated other comprehensive income to retained earnings. ASU 2018-02 shall be applied either in the period of adoption or retrospectively to each period (or periods) in which the effects of the change in the U.S. federal corporate income tax rate in the Tax Reform Act is recognized. January 1, 2019. Early adoption is permitted. The Company does not expect the adoption of ASU 2018-02 to have a material impact on its consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, “Compensation – Stock Compensation (Topic 718).” ASU 2017-09 requires that an entity account for the effects of a modification unless (i) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (ii) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (iii) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. January 1, 2018. The Company adopted ASU 2017-09 during the first quarter of 2018. The adoption of ASU 2017-09 did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” ASU 2017-07 requires employers that offer or maintain defined benefit plans to disaggregate the service component from the other components of net periodic benefit cost and provides guidance on the presentation of the service component and the other components of net periodic benefit cost in the statement of operations. ASU 2017-07 should be applied retrospectively for the presentation of net periodic benefit cost in the statement of operations. January 1, 2018. The Company retrospectively adopted ASU 2017-07 during the first quarter of 2018. The adoption of ASU 2017-07 resulted in the reclassification of $0.4 million of the Company’s net periodic benefit costs related to its frozen U.K. pension plan from Selling, general and administrative expenses into Other income (expense) in the consolidated statement of operations for both 2017 and 2016. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” ASU 2016-16 requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory in the period in which the transfer occurs. ASU 2016-16 shall be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. January 1, 2018. The Company adopted ASU 2016-16 during the first quarter of 2018 using the modified retrospective approach. The adoption resulted in the reclassification of $2.5 million of prepaid income taxes and income taxes receivable, of which $2.2 million was recorded to Accumulated deficit and $0.3 million was recognized as net deferred tax assets, for the year ended December 31, 2018. The Company will recognize incremental deferred income tax expense thereafter as these net deferred tax assets are utilized. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers – Deferral of the Effective Date.” ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition,” and requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgements, and changes in judgements and assets recognized from costs incurred to fulfill a contract. January 1, 2018. The Company adopted ASU 2014-09 during the first quarter of 2018 using the modified retrospective method. ASU 2014-09 has been applied to those contracts which had not been completed as of January 1, 2018 and all new contracts entered into by the Company subsequent to January 1, 2018. All prior period financial statements and disclosures are presented in accordance with Topic 605. The adoption of ASU 2014-09 did not have an impact on the Company’s Accumulated deficit. See Note 3. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step Two of the goodwill impairment test, which requires a hypothetical purchase price allocation. ASU 2017-04 should be applied on a prospective basis. January 1, 2020. Early adoption is permitted. The Company adopted ASU 2017-04 during the second quarter of 2018. The adoption of ASU 2017-04 had no impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” ASU 2017-12 amends and simplifies existing guidance in order to better align a company’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in the financial statements. ASU 2017-12 should be applied to hedging relationships existing on the date of adoption. The effect of the adoption should be reflected as of the beginning of the fiscal year of adoption. January 1, 2019. Early adoption is permitted. The Company does not expect the adoption of ASU 2017-12 to have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” In July 2018, the FASB issued ASU 2018-11, “Leases (Topic 842) – Targeted Improvements.” ASU 2016-02 requires a lessee to recognize on the balance sheet a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for both finance and operating leases and to disclose key information about leasing arrangements. ASU 2016-02 should be applied as of the beginning of the earliest period presented in the financial statements using a modified retrospective approach. ASU 2018-11 provides an additional (and optional) transition method which allows entities to apply ASU 2016-02 as of the adoption date and recognize a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. January 1, 2019. Early adoption is permitted. The Company will adopt the new standard in the first quarter of 2019, using the modified retrospective method. The Company expects this standard will have a material effect on its consolidated balance sheets with the recognition of new right-of-use assets and lease liabilities for all operating leases longer than one year in duration. Upon adoption, the Company estimates both assets and liabilities on the consolidated balance sheet will increase by approximately $32.0 million to $37.0 million. The Company does not expect the adoption to have a significant impact upon its consolidated statements of operations and cash flows. Changes in lease population or changes in incremental borrowing rates may alter this estimate. The Company will expand the consolidated financial statement disclosures upon adoption of this standard.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue The Company recognizes revenue when control of promised goods or services is transferred to customers. The transfer of control generally occurs upon shipment when title and risk of loss pass to the customer. The vast majority of the Company’s revenue is generated from the sale of distinct products. Revenue is measured as the amount of consideration the Company expects to receive in exchange for such products, which is generally at contractually stated prices. Sales taxes and value added taxes collected concurrently with revenue generating activities are excluded from revenue. Performance Obligations Substantially all of the Company’s revenue is recognized at a point in time, upon shipment, rather than over time. At the request of its customers, the Company may perform professional services, generally for the maintenance and repair of products previously sold to those customers and for engineering services. Professional services are typically short in duration, mostly less than one month, and aggregate to less than 3% of the Company’s consolidated revenue. Revenue is typically recognized at a point in time when control transfers to the customer upon completion of professional services. These services generally involve a single distinct performance obligation. The consideration expected to be received in exchange for such services is normally the contractually stated amount. The Company occasionally sells separately priced non-standard/extended warranty services or preventative maintenance plans with the sale of products. The transfer of control over the service plans is over time. The Company recognizes the related revenue ratably over the terms of the service plans. The transaction price of a contract is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are generally determined based on the prices charged to customers or using the expected cost plus a margin. Shipping & Handling Costs The Company accounts for shipping and handling activities that occur after the transfer of control over the related goods as fulfillment activities rather than performance obligations. The shipping and handling fees charged to customers are recognized as revenue and the related costs are recorded in cost of revenue at the time of transfer of control. Warranties The Company generally provides warranties for its products. The standard warranty period is typically 12 months to 24 months for the Photonics and Precision Motion segments and 12 months to 36 months for the Vision segment. The standard warranty period for product sales is accounted for under the provisions of ASC 450, “Contingencies,” as the Company has the ability to ascertain the likelihood of the liability and can reasonably estimate the amount of the liability. A provision for the estimated cost related to warranty is recorded to cost of revenue at the time revenue is recognized. The Company’s estimate of costs to service the warranty obligations is based on historical experience and expectations of future conditions. To the extent that the Company’s experience in warranty claims or costs associated with servicing those claims differ from the original estimates, revisions to the estimated warranty liability are recorded at that time, with an offsetting adjustment to cost of revenue. Practical Expedients and Exemptions The Company expenses incremental direct costs of obtaining a contract when incurred if the expected amortization period is one year or less. These costs are recorded within selling, general and administrative expenses in the consolidated statement of operations. The Company does not adjust the promised amount of consideration for the effects of a financing component because the transfer of a promised good to a customer and the customer’s payment for that good are typically one year or less. Contract Liabilities Contract liabilities consist of deferred revenue and advance payments from customers, including amounts that are refundable. These contract liabilities are classified as either current or long-term liabilities in the consolidated balance sheet based on the timing of when the Company expects to recognize the related revenue. As of December 31, 2018 and January 1, 2018 (the date of adoption of Topic 606), contract liabilities were $4.7 million and $5.4 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The decrease in the contract liability balance during the year ended December 31, 2018 is primarily due to $3.2 million of revenue recognized during the period that was included in the contract liability balance at the date of adoption, partially offset by cash payments received in advance of satisfying performance obligations. Disaggregated Revenue See Note 19 for the Company’s disaggregation of revenue by segment, geography and end market.

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Business Combinations	4. Business Combinations 2018 Acquisitions During the year ended December 31, 2018, the Company acquired two businesses for total cash considerations of $33.5 million, including the acquisition of Zettlex Holdings Limited ("Zettlex"). The consolidated statement of operations includes the operating results of the businesses from the dates of acquisition. Zettlex On May 1, 2018, the Company acquired 100% of the outstanding stock of Zettlex, a Cambridge, United Kingdom-based provider of inductive encoder products that provide absolute and accurate positioning, even in extreme operating environments, to OEMs in the medical and advanced industrial markets. The purchase price of £23.3 million ($32.0 million), net of working capital adjustments, was financed with cash on hand and borrowings under the Company’s revolving credit facility. The addition of Zettlex broadens the range of components and solutions that the Company can provide to customers by combining its commercial resources and application-specific competencies with Zettlex's technologies and strong team. Zettlex is included in the Company’s Precision Motion reportable segment. The acquisition of Zettlex has been accounted for as a business combination. The allocation of the purchase price is based upon a valuation of assets acquired and liabilities assumed. Assets acquired and liabilities assumed have been recorded at their estimated fair values as of the acquisition date. The fair values of intangible assets were based on valuations using an income approach, with estimates and assumptions provided by management of Zettlex and the Company. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including estimating future cash flows and developing appropriate discount rates. The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. The final purchase price allocation is as follows (in thousands): Amount Cash $ 3,776 Accounts receivable 2,237 Inventories 928 Property, plant and equipment 2,590 Intangible assets 14,585 Goodwill 11,790 Other assets 145 Total assets acquired 36,051 Accounts payable 509 Accrued expenses and other liabilities 1,035 Deferred tax liabilities 2,481 Total liabilities assumed 4,025 Total assets acquired, net of liabilities assumed 32,026 Less: cash acquired 3,776 Total purchase price, net of cash acquired $ 28,250 The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 3,027 10 years Customer relationships 9,494 15 years Trademarks and trade names 550 10 years Backlog 1,514 1 year Total $ 14,585 The purchase price allocation resulted in $14.6 million of identifiable intangible assets and $11.8 million of goodwill. As the Zettlex acquisition is an acquisition of outstanding common shares, none of the resulting goodwill is deductible for tax purposes. Intangible assets are being amortized over their weighted average useful lives primarily based upon the pattern in which anticipated economic benefits from such assets are expected to be realized. The goodwill recorded represents the anticipated incremental value of future cash flows potentially attributable to: (i) Zettlex’s ability to grow its business with existing and new customers, including leveraging the Company’s customer base; and (ii) cost improvements due to the integration of Zettlex operations into the Company’s existing infrastructure. The operating results of Zettlex were included in the Company’s results of operations beginning on May 1, 2018. Zettlex contributed revenues of $8.3 million and a loss before income taxes of $1.8 million for the year ended December 31, 2018. Loss before income taxes for the year ended December 31, 2018 included amortization of purchased intangible assets of $1.3 million and compensation expense of $4.4 million recognized under earn-out agreements. The pro forma financial information reflecting the operating results of Zettlex, as if it had been acquired as of January 1, 2017, would not differ materially from the operating results of the Company as reported for the year ended December 31, 2017. 2017 Acquisitions WOM On July 3, 2017, the Company acquired 100% of the outstanding shares of W.O.M. World of Medicine GmbH (“WOM”), a Berlin, Germany-based provider of medical insufflators, pumps, and related disposables for OEMs in the minimally invasive surgery market, for a total purchase price of €118.1 million ($134.9 million). The acquisition was financed with a €118.0 million ($134.8 million) draw-down on the Company’s revolving credit facility. The final purchase price allocation is as follows (in thousands): Amount Cash $ 1,400 Accounts receivable 11,807 Inventories 14,549 Property, plant and equipment 21,940 Intangible assets 59,732 Goodwill 55,632 Other assets 2,660 Total assets acquired 167,720 Accounts payable 4,398 Other liabilities 8,681 Deferred tax liabilities 19,707 Total liabilities assumed 32,786 Total assets acquired, net of liabilities assumed 134,934 Less: cash acquired 1,400 Total purchase price, net of cash acquired $ 133,534 The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 21,586 10 years Customer relationships 35,634 12 years Trademarks and trade names 2,284 10 years Backlog 228 1 year Total $ 59,732 The purchase price allocation resulted in $59.7 million of identifiable intangible assets and $55.6 million of goodwill. As the WOM acquisition was an acquisition of outstanding common shares, none of the resulting goodwill was deductible for tax purposes. Intangible assets are being amortized over their weighted average useful lives primarily based upon the pattern in which anticipated economic benefits from such assets are expected to be realized. The goodwill recorded represents the anticipated incremental value of future cash flows attributable to: (i) WOM’s ability to grow its business with existing and new customers, including leveraging the Company’s customer base; and (ii) cost improvements due to expansion in scale. The operating results of WOM were included in the Company’s results of operations beginning on July 3, 2017. WOM is included in the Company’s Vision reportable segment. Laser Quantum On January 10, 2017, the Company acquired an additional approximately 35% of the outstanding shares of Laser Quantum, a Manchester, United Kingdom-based provider of solid state continuous wave lasers, ultrafast lasers, and optical light engines to OEMs in the medical market, for £25.5 million ($31.1 million) in cash consideration. The purchase price was financed with cash on hand and a $30.0 million draw-down on the Company’s revolving credit facility. As a result of this transaction, the Company’s ownership position in Laser Quantum increased from approximately 41% to approximately 76%. As part of this transaction, the Company and the remaining shareholders of Laser Quantum entered into a call and put option agreement for the purchase and sale, in 2020, of all the remaining Laser Quantum shares held by the remaining shareholders, subject to certain conditions. The purchase price for the remaining shares would have been based on the proportionate share of the noncontrolling interest in Laser Quantum’s cash on hand as of December 31, 2019 and a multiple of Laser Quantum’s EBITDA for the twelve months ending December 31, 2019, as defined in the call and put option agreement. In connection with the purchase price allocation, upon gaining control over Laser Quantum, the Company recognized a nontaxable gain of $26.4 million in the consolidated statement of operations for the twelve months ended December 31, 2017. The gain represented the excess of the fair value of the Company’s previously-held equity interest in Laser Quantum over its carrying value upon gaining control. The fair value of the approximately 41% equity interest previously held by the Company before the acquisition and the fair value of the approximately 24% noncontrolling interest held by the remaining shareholders of Laser Quantum after the acquisition were determined using a combination of the discounted cash flow method (an income approach), the guideline public company method (a market approach), and the subject company transaction method (a market approach). The subject company transaction method was based on the purchase price paid by the Company for the acquisition of the additional approximately 35% of the outstanding shares, while giving consideration to the control and/or minority nature of the subject equity interests. The final purchase price allocation is as follows (in thousands): Amount Cash $ 15,343 Accounts receivable 2,739 Inventories 6,264 Property, plant and equipment 2,286 Intangible assets 38,955 Goodwill 31,168 Other assets 717 Total fair value of assets 97,472 Accounts payable 796 Other liabilities 2,068 Deferred tax liabilities 7,337 Total fair value of liabilities 10,201 Total fair value of assets, net of fair value of liabilities 87,271 Less: fair value of equity interest previously held by Novanta 34,637 Less: fair value of noncontrolling interest 21,582 Total purchase price paid by Novanta 31,052 Less: cash acquired 15,343 Purchase price, net of cash acquired $ 15,709 The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 15,501 15 years Customer relationships 19,990 15 years Trademarks and trade names 1,964 15 years Backlog 1,500 9 months Total $ 38,955 The purchase price allocation resulted in $39.0 million of identifiable intangible assets and $31.2 million of goodwill. As the Laser Quantum acquisition was an acquisition of outstanding common shares, none of the resulting goodwill was deductible for tax purposes. Intangible assets are being amortized over their weighted average useful lives primarily based upon the pattern in which anticipated economic benefits from such assets are expected to be realized. The goodwill recorded represents the anticipated incremental value of future cash flow potential attributable to: (i) Laser Quantum’s ability to grow its business with existing and new customers, including leveraging the Company’s broader customer base; and (ii) cost improvements due to expansion in scale. The operating results of Laser Quantum were included in the Company’s results of operations beginning on January 10, 2017. ThingMagic On January 10, 2017, the Company acquired from Trimble Inc. certain assets and liabilities that constituted the business of ThingMagic, a Woburn, Massachusetts-based provider of ultra-high frequency (“UHF”) radio frequency identification (“RFID”) modules and finished RFID readers to OEMs in the medical and advanced industrial markets, for a total purchase price of $19.1 million. The acquisition was financed with cash on hand and a $12.0 million draw-down on the Company’s revolving credit facility. The final purchase price allocation is as follows (in thousands): Amount Inventories $ 1,832 Intangible assets 7,423 Goodwill 9,929 Total assets acquired 19,184 Other liabilities 95 Total liabilities assumed 95 Total purchase price $ 19,089 The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 4,600 10 years Customer relationships 2,520 10 years Trademarks and trade names 303 5 years Total $ 7,423 The purchase price allocation resulted in $7.4 million of identifiable intangible assets and $9.9 million of goodwill. As the ThingMagic acquisition was treated as an acquisition of assets for income tax purposes, the goodwill acquired is expected to be fully deductible for tax purposes. Intangible assets are being amortized over their weighted average useful lives primarily based upon the pattern in which anticipated economic benefits from such assets are expected to be realized. The goodwill recorded represents the anticipated incremental value of future cash flows potentially attributable to: (i) ThingMagic’s ability to grow its business with existing and new customers, including leveraging the Company’s customer base; (ii) cost synergies in combining the research and development capabilities from ThingMagic with the existing RFID capabilities within Novanta; and (iii) cost improvements due to the integration of ThingMagic operations into the Company’s existing infrastructure. The operating results of ThingMagic were included in the Company’s results of operations beginning on January 10, 2017. ThingMagic is included in the Company’s Vision reportable segment. The pro forma financial information reflecting the operating results of ThingMagic, as if it had been acquired as of January 1, 2016, would not differ materially from the operating results of the Company as reported for the year ended December 31, 2016. Unaudited Pro Forma Information The unaudited pro forma information presented below includes the effects of business combination accounting resulting from the acquisitions of WOM and Laser Quantum, including amortization of intangible assets, interest expense on borrowings in connection with the acquisitions, and elimination of the gain from the Laser Quantum acquisition and income from the Company’s previous equity method investment in Laser Quantum, and the related tax effects, as though the acquisitions had been consummated as of January 1, 2016. The unaudited pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisitions had taken place on January 1, 2016. Year Ended December 31, 2017 2016 Revenue $ 562,818 $ 487,960 Consolidated net income $ 39,630 $ 21,020 Earnings per share attributable to Novanta Inc. - Basic (1) $ 0.49 $ 0.62 Earnings per share attributable to Novanta Inc. - Diluted (1) $ 0.49 $ 0.61 (1) The computation of pro forma earnings per share attributable to Novanta Inc. included $20.2 million and zero adjustment of redeemable noncontrolling interest to estimated redemption value for the years ended December 31, 2017 and 2016, respectively. Pro forma earnings for the year ended December 31, 2017 were adjusted to exclude non-recurring items such as amortization of inventory fair value adjustments of $4.4 million, acquisition related costs of $4.3 million, the gain on business acquisition of $26.4 million and income from equity method investment of $0.1 million. Pro forma earnings for the year ended December 31, 2017 were adjusted to include an increase in amortization of intangible assets of $5.3 million and an increase in interest expense of $1.4 million associated with borrowings under the Company’s revolving credit facility used to fund the acquisitions. Pro forma earnings for the year ended December 31, 2016 were adjusted to exclude non-recurring items such as acquisition related costs of $1.2 million and income from equity method investment of $2.2 million. Pro forma earnings for the year ended December 31, 2016 were adjusted to include an increase in amortization of intangible assets of $12.5 million and an increase in interest expense of $3.9 million associated with borrowings under the Company’s revolving credit facility used to fund the acquisitions. 2016 Acquisitions Reach On May 24, 2016, the Company acquired 100% of the outstanding stock of Reach Technology Inc. (“Reach”), a Fremont, California-based provider of embedded touch screen technology solutions for OEMs in the medical and advanced industrial markets, for a total purchase price of $9.4 million. The operating results of Reach were included in the Company’s results of operations beginning on May 24, 2016. Reach is included in the Company’s Vision reportable segment. Acquisition Costs The Company recognized acquisition costs of $1.1 million, $4.4 million and $0.2 million in the years ended December 31, 2018, 2017 and 2016, respectively, related to the acquisitions that occurred during those years. These costs consisted of finders’ fees, legal, valuation and other professional or consulting fees. These amounts were included in restructuring, acquisition and divestiture related costs in the consolidated statements of operations.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	12 Months Ended
	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	5. Redeemable Noncontrolling Interest As a result of the Company’s acquisition of additional outstanding shares of Laser Quantum from the remaining shareholders on January 10, 2017, the Company increased its ownership position in Laser Quantum from approximately 41% to approximately 76% and began to consolidate Laser Quantum in the consolidated financial statements. As part of the purchase agreement, the Company and the remaining shareholders entered into a call and put option agreement for the purchase and sale, in 2020, of all remaining Laser Quantum shares held by the remaining shareholders, subject to certain conditions. As a result of the put option held by the remaining shareholders, the noncontrolling interest was considered a redeemable equity instrument and was presented as temporary equity on the consolidated balance sheet. The proportionate share of the net income from Laser Quantum attributable to the noncontrolling interest was reported as a reduction to the consolidated net income in the Company’s consolidated statement of operations and an increase to the carrying value of the redeemable noncontrolling interest. The initial value of the noncontrolling interest was measured at a fair value of £17.7 million ($21.6 million) as of January 10, 2017. On the consolidated balance sheet, the Company reported the redeemable noncontrolling interest at the higher of (i) the carrying value without any redemption value adjustments or (ii) the estimated redemption value as of the end of the reporting period. The estimated redemption value was determined as of the end of the reporting period as if it were also the redemption date for the instrument. The resulting adjustments were recorded in retained earnings in shareholders’ equity and did not affect net income attributable to Novanta Inc. However, these adjustments were included in the determination of earnings per common share (See Note 10). On September 27, 2018, the Company acquired the remaining approximately 24% of the outstanding shares of Laser Quantum for an aggregate consideration of $45.1 million, consisting of $30.7 million of cash and 213,219 shares of the Company’s restricted stock. The restricted stock will become fully vested upon achievement of certain milestones included in the restricted stock agreement. Restricted stock not otherwise vested as of December 31, 2025 will be subject to forfeiture. The acquisition was accounted for as a transaction among shareholders. No gain or loss was recognized in the consolidated statements of operations for the year ended December 31, 2018. The difference between the carrying amount on the balance sheet prior to the acquisition of the redeemable noncontrolling interest and the purchase price was recorded as an adjustment to retained earnings in stockholders’ equity. The following table summarizes the changes in the Company’s redeemable noncontrolling interest in the twelve months ended December 31, 2018 (in thousands): Redeemable Noncontrolling Interest Balance as of December 31, 2017 $ 46,923 Net income attributable to noncontrolling interest 1,986 Redeemable noncontrolling interest redemption value adjustment (1,781 ) Foreign currency translation (1,926 ) Acquisition of noncontrolling interest (45,202 ) Balance as of December 31, 2018 $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	6. Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) is defined as net income (loss) and other changes in stockholders’ equity that do not represent transactions with stockholders or in the Company’s stock. Changes in accumulated other comprehensive income (loss) is as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Income (Loss) Adjustments Adjustments Balance at December 31, 2015 $ (18,830 ) $ (9,698 ) $ (9,132 ) Other comprehensive loss (9,611 ) (7,524 ) (2,087 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 726 — 726 Balance at December 31, 2016 (27,715 ) (17,222 ) (10,493 ) Other comprehensive income (loss) 8,790 8,909 (119 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 1,045 — 1,045 Balance at December 31, 2017 (17,880 ) (8,313 ) (9,567 ) Other comprehensive loss (5,473 ) (4,172 ) (1,301 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 826 — 826 Balance at December 31, 2018 $ (22,527 ) $ (12,485 ) $ (10,042 ) (1) The amounts reclassified from accumulated other comprehensive income (loss) were included in other income (expense) in the consolidated statements of operations.

Goodwill, Intangible Assets and

Goodwill, Intangible Assets and Impairment Charges	12 Months Ended
	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, Intangible Assets and Impairment Charges	7. Goodwill, Intangible Assets and Impairment Charges Goodwill The following table summarizes changes in goodwill during the year ended December 31, 2018 (in thousands): December 31, 2018 Balance at beginning of year $ 210,988 Goodwill acquired from acquisitions 12,011 Effect of foreign exchange rate changes (5,337 ) Balance at end of year $ 217,662 Goodwill by reportable segment as of December 31, 2018 is as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 168,955 $ 155,017 $ 44,919 $ 368,891 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 66,494 $ 123,295 $ 27,873 $ 217,662 Goodwill by reportable segment as of December 31, 2017 is as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 170,818 $ 157,436 $ 33,963 $ 362,217 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 68,357 $ 125,714 $ 16,917 $ 210,988 Intangible Assets Intangible assets as of December 31, 2018 and 2017, respectively, are summarized as follows (dollar amounts in thousands): December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 134,034 $ (86,623 ) $ 47,411 9.0 Customer relationships 139,097 (64,174 ) 74,923 11.7 Customer backlog 1,738 (1,191 ) 547 0.4 Non-compete covenant 2,514 (2,493 ) 21 0.1 Trademarks and trade names 15,915 (8,924 ) 6,991 9.1 Amortizable intangible assets 293,298 (163,405 ) 129,893 10.5 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 306,325 $ (163,405 ) $ 142,920 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 130,890 $ (77,295 ) $ 53,595 10.2 Customer relationships 131,809 (52,015 ) 79,794 12.3 Customer backlog 2,524 (2,284 ) 240 0.8 Non-compete covenant 2,514 (1,956 ) 558 0.9 Trademarks and trade names 15,708 (7,874 ) 7,834 9.7 Amortizable intangible assets 283,445 (141,424 ) 142,021 11.3 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 296,472 $ (141,424 ) $ 155,048 Amortizable intangible assets as of December 31, 2018 included intangible assets of $1.2 million recognized in conjunction with the acquisition of certain customer relationships in September 2018. All definite-lived intangible assets are amortized either on a straight-line basis or an economic benefit basis over their remaining estimated useful life. Amortization expense for patents and developed technologies is included in cost of revenue in the accompanying consolidated statements of operations. Amortization expense for customer relationships and definite-lived trademarks, trade names and other intangibles is included in operating expenses in the accompanying consolidated statements of operations. Amortization expense is as follows (in thousands): Year Ended December 31, 2018 2017 2016 Amortization expense – cost of revenue $ 10,060 $ 8,824 $ 4,164 Amortization expense – operating expenses 15,550 12,096 8,251 Total amortization expense $ 25,610 $ 20,920 $ 12,415 Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands): Year Ending December 31, Cost of Revenue Operating Expenses Total 2019 $ 9,222 $ 14,733 $ 23,955 2020 8,321 12,395 20,716 2021 7,406 11,489 18,895 2022 6,308 9,666 15,974 2023 5,409 8,153 13,562 Thereafter 10,745 26,046 36,791 Total $ 47,411 $ 82,482 $ 129,893 Impairment Charges The Company did not have any goodwill or indefinite-lived intangible asset impairment charges during 2018, 2017 or 2016.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements ASC 820, “Fair Value Measurement,” establishes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the third is considered unobservable: Level 1: Quoted prices for identical assets or liabilities in active markets which the Company can access Level 2: Observable inputs other than those described in Level 1 Level 3: Unobservable inputs Cash Equivalents The Company’s cash equivalents are highly liquid investments with original maturities of three months or less, which represent an asset the Company measures at fair value on a recurring basis. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets. The fair values of cash, accounts receivable, income taxes receivable, accounts payable, income taxes payable and accrued expenses and other current liabilities approximate their carrying values because of their short-term nature. Foreign Currency Contracts The Company addresses market risks from changes in foreign currency exchange rates through a risk management program that includes the use of derivative financial instruments to mitigate certain balance sheet foreign currency transaction exposures. The Company uses foreign currency forward contracts as a part of its strategy to manage exposures related to foreign currency denominated monetary assets and liabilities. Contingent Consideration On December 14, 2016, the Company acquired certain video signal processing and management technologies used in medical visualization solutions. Under the purchase and sale agreement, the owners are eligible to receive contingent consideration based on the achievement of certain revenue targets from 2018 to 2021. The undiscounted range of possible contingent consideration is zero to €5.5 million ($6.6 million). If such targets are achieved, the contingent consideration would be payable in cash in four installments from 2019 to 2022. As the acquired assets did not meet the definition of a business, the fair value of the contingent consideration is recognized when probable and estimable and is capitalized as part of the cost of the acquired assets. Subsequent changes in the estimated fair value of this contingent liability are recorded as adjustments to the carrying value of the asset acquired and amortized over the remaining useful life of the underlying asset. In December 2017, the Company recorded an estimated fair value of $1.3 million in contingent consideration, which was reported as a long-term liability in other liabilities on the consolidated balance sheet as of December 31, 2017. Based on 2018 revenue performance and the most recent revenue projections for fiscal years 2019 to 2021, the fair value of the contingent consideration was adjusted to $3.4 million, which is reported as a long-term liability in other liabilities on the consolidated balance sheet as of December 31, 2018. On February 19, 2015, the Company acquired Applimotion Inc. (“Applimotion”). Under the purchase and sale agreement for the Applimotion acquisition, the shareholders of Applimotion were eligible to receive contingent consideration based on the achievement of certain revenue targets for fiscal years 2015 to 2017. If such targets were achieved, the contingent consideration would be payable in cash in two installments in 2017 and 2018, respectively. The estimated initial fair value of the contingent consideration of $1.0 million was determined based on the Monte Carlo valuation method and was recorded as part of the purchase price as of the acquisition date. As a result of Applimotion’s fiscal year 2015 and 2016 revenue results, contingent consideration of $1.2 million was paid in the first quarter of 2017. Based on Applimotion’s fiscal year 2016 and 2017 revenue results, the fair value for the remaining contingent consideration was adjusted to $2.8 million as of December 31, 2017. The Company paid $2.8 million as the final Applimotion contingent consideration payment in January 2018. The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 4,288 $ 4,288 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 15 — 15 — $ 4,303 $ 4,288 $ 15 $ — Liabilities Accrued expenses and other current liabilities: Foreign currency forward contracts $ 182 $ — $ 182 $ — Other liabilities: Contingent consideration - Long-term 3,376 — — 3,376 $ 3,558 $ — $ 182 $ 3,376 The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 2,665 $ 2,665 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 150 — 150 — $ 2,815 $ 2,665 $ 150 $ — Liabilities Accrued expenses and other current liabilities: Contingent consideration - Current $ 2,800 $ — $ — $ 2,800 Foreign currency forward contracts (1) — — — — Other liabilities: Contingent consideration - Long-term 1,304 — — 1,304 $ 4,104 $ — $ — $ 4,104 (1) The unrealized loss from foreign currency forward contracts was nominal as of December 31, 2017. During the years ended December 31, 2018 and 2017, there were no transfers between fair value levels. Changes in the fair value of Level 3 contingent consideration for the year ended December 31, 2018 were as follows (in thousands): Contingent Consideration Balance at December 31, 2017 $ 4,104 Payments (2,800 ) Fair value adjustments 2,072 Balance at December 31, 2018 $ 3,376 As of December 31, 2018, the significant unobservable inputs used in the fair value measurement of the Company’s contingent consideration were historical revenues, projected revenues and a discount rate. Increases or decreases in the unobservable inputs would result in a higher or lower fair value measurement. See Note 12 for discussion of the estimated fair value of the Company’s outstanding debt and Note 14 for discussion of the estimated fair value of the Company’s pension plan assets.

Foreign Currency Contracts

Foreign Currency Contracts	12 Months Ended
	Dec. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Foreign Currency Contracts	9. Foreign Currency Contracts The Company addresses market risks from changes in foreign currency exchange rates through a risk management program that includes the use of derivative financial instruments to mitigate certain foreign currency transaction exposures from future settlement of non-functional currency monetary assets and liabilities as of the end of a period. The Company does not enter into derivative transactions for speculative purposes. Gains and losses on derivative financial instruments substantially offset losses and gains on the underlying hedged exposures. Furthermore, the Company manages its exposure to counterparty risks on derivative instruments by entering into contracts with a diversified group of major financial institutions and by actively monitoring outstanding positions. Beginning in September 2017, the Company commenced a foreign currency hedging program through the use of forward contracts as a part of its strategy to limit its exposures related to monetary assets and liabilities denominated in currencies other than the functional currency of the Company and its subsidiaries. These forward contracts are not designated as cash flow, fair value or net investment hedges. All changes in the fair value of these forward contracts are recognized in income before income taxes. As of December 31, 2018, the notional amount and fair value of the Company’s foreign currency forward contracts was $31.2 million and a net loss of $0.2 million, respectively. As of December 31, 2017, the notional amount and fair value of the Company’s foreign currency forward contracts was $17.9 million and a net gain of $0.2 million, respectively. For the years ended December 31, 2018 and 2017, the Company recognized aggregate net gains of $1.5 million and $0.2 million, respectively, which were included in foreign exchange transaction gains (losses) in the consolidated statements of operations.

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings per Common Share	10. Earnings per Common Share Basic earnings per common share is computed by dividing net income attributable to Novanta Inc., after redeemable noncontrolling interest redemption value adjustment, by the weighted average number of common shares outstanding during the year. The Company recognizes changes in the redeemable noncontrolling interest redemption value by adjusting the carrying amount of the redeemable noncontrolling interest as of the end of the period to the higher of: (i) the estimated redemption value assuming the end of the period is also the redemption date or (ii) the carrying value without any redemption value adjustments. Such adjustments are recorded in retained earnings in stockholders’ equity instead of net income attributable to Novanta Inc. For both basic and diluted earnings per common share, such redemption value adjustments are included in the calculation of the numerator. For diluted earnings per common share, the denominator also includes the dilutive effect of outstanding restricted stock units, stock options, non-GAAP EPS performance-based restricted stock units and total shareholder return performance-based restricted stock units determined using the treasury stock method. Dilutive effects of attainment-based contingently issuable shares granted to the former Laser Quantum noncontrolling interest shareholders and the non-GAAP EPS performance-based restricted stock units will be included in the weighted average dilutive share calculation when the performance targets have been achieved. The dilutive effects of market-based contingently issuable shares are included in the weighted average dilutive share calculation based on the number of shares, if any, that would be issuable as of the end of the reporting period. For years in which net losses are generated, the dilutive potential common shares are excluded from the calculation of diluted earnings per share as the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Year Ended December 31, 2018 2017 2016 Numerators: Consolidated net income $ 51,095 $ 62,307 $ 22,003 Less: Net income attributable to noncontrolling interest (1,986 ) (2,256 ) — Net income attributable to Novanta Inc. 49,109 60,051 22,003 Redeemable noncontrolling interest redemption value adjustment (see Note 5) 1,781 (20,244 ) — Net income attributable to Novanta Inc. after adjustment for redeemable noncontrolling interest redemption value $ 50,890 $ 39,807 $ 22,003 Denominators: Weighted average common shares outstanding— basic 34,913 34,817 34,694 Dilutive potential common shares 560 463 220 Weighted average common shares outstanding— diluted 35,473 35,280 34,914 Antidilutive common shares excluded from above 4 — 85 Earnings per Common Share Attributable to Novanta Inc.: Basic $ 1.46 $ 1.14 $ 0.63 Diluted $ 1.43 $ 1.13 $ 0.63

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	12 Months Ended
	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplementary Balance Sheet Information	11. Supplementary Balance Sheet Information The following tables provide the details of selected balance sheet items as of the dates indicated (in thousands): Inventories December 31, 2018 2017 Raw materials $ 69,008 $ 57,277 Work-in-process 15,982 14,847 Finished goods 17,337 16,443 Demo and consigned inventory 2,437 2,711 Total inventories $ 104,764 $ 91,278 Property, Plant and Equipment, Net December 31, 2018 2017 Cost: Land, buildings and improvements $ 56,068 $ 53,055 Machinery and equipment 77,918 74,122 Total cost 133,986 127,177 Accumulated depreciation (68,522 ) (65,459 ) Property, plant and equipment, net $ 65,464 $ 61,718 As of December 31, 2018 and 2017, the Company had gross assets under capital lease of $13.5 million and $13.6 million, respectively. The assets acquired under capital leases are included in land, buildings and improvements and machinery and equipment and the related amortization expense is included in depreciation expense. The Company also capitalized software development costs of $1.1 million, $2.0 million and $2.3 million in 2018, 2017 and 2016, respectively, in accordance with the guidance in ASC 350-40, “Internal-Use Software.” The following table summarizes depreciation expense on property, plant and equipment, including demo units and assets under capital leases (in thousands): Year Ended December 31, 2018 2017 2016 Depreciation expense $ 11,442 $ 9,838 $ 8,558 The following table summarizes total accumulated depreciation on assets under capital leases as of the dates indicated (in thousands): December 31, 2018 2017 Accumulated depreciation on assets under capital leases $ 6,901 $ 6,097 Accrued Expenses and Other Current Liabilities The following table summarizes accrued expenses and other current liabilities as of the dates indicated (in thousands): December 31, 2018 2017 Accrued compensation and benefits $ 24,545 $ 17,348 Accrued warranty 4,510 4,835 Contract liabilities, current portion 4,165 4,790 Other 13,075 16,341 Total $ 46,295 $ 43,314 Accrued Warranty The following table summarizes changes in accrued warranty for the periods indicated (in thousands): Year Ended December 31, 2018 2017 2016 Balance at beginning of year $ 4,835 $ 3,142 $ 3,335 Provision charged to cost of revenue 3,111 3,169 1,673 Warranty liabilities acquired from acquisitions — 1,307 23 Use of provision (3,341 ) (2,857 ) (1,849 ) Foreign currency exchange rate changes (95 ) 74 (40 ) Balance at end of year $ 4,510 $ 4,835 $ 3,142

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	12. Debt Debt consisted of the following (in thousands): December 31, 2018 2017 Senior Credit Facilities – term loan $ 4,600 $ 9,200 Less: unamortized debt issuance costs (65 ) (81 ) Total current portion of long-term debt 4,535 9,119 Senior Credit Facilities – term loan 69,925 79,125 Senior Credit Facilities – revolving credit facility 135,058 149,453 Less: unamortized debt issuance costs (2,140 ) (3,078 ) Total long-term debt 202,843 225,500 Total Senior Credit Facilities $ 207,378 $ 234,619 Senior Credit Facilities On May 19, 2016, the Company entered into the second amended and restated credit agreement (the “Second Amended and Restated Credit Agreement”) with new and existing lenders for an aggregate credit facility of $300.0 million, consisting of a $75.0 million, 5-year term loan facility and a $225.0 million, 5-year revolving credit facility (collectively, the “Senior Credit Facilities”). The Senior Credit Facilities mature in May 2021. The Second Amended and Restated Credit Agreement amended and restated the amended and restated credit agreement dated December 27, 2012. The borrowings outstanding under the Senior Credit Facilities bear interest at rates based on (a) the Eurocurrency Rate, as defined in the Second Amended and Restated Credit Agreement, plus a rate ranging from 1.75% to 2.75% per annum or (b) the Base Rate, as defined in the Second Amended and Restated Credit Agreement, plus a rate ranging from 0.75% to 1.75% per annum, in each case based upon the Company’s consolidated leverage ratio. The Company is also required to pay a commitment fee on unused commitments under the revolving credit facility ranging between 0.25% and 0.45% per annum, which is based upon the Company’s consolidated leverage ratio. The Second Amended and Restated Credit Agreement contains various customary representations, warranties and covenants applicable to the Company and its subsidiaries, including: (i) limitations on restricted payments, including dividend payments and stock repurchases, provided that the Company and its subsidiaries may repurchase their equity interests, so long as immediately after giving effect to the repurchase, the Company’s consolidated leverage ratio is no more than 2.50; (ii) limitations on fundamental changes involving the Company and its subsidiaries; (iii) limitations on the disposition of assets; and (iv) limitations on indebtedness, investments, and liens. The Second Amended and Restated Credit Agreement also requires the Company to satisfy certain financial covenants, such as maintaining a minimum consolidated fixed charge coverage ratio of 1.50 and a maximum consolidated leverage ratio of 3.00. The maximum consolidated leverage ratio will increase to 3.50 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $50.0 million. On August 1, 2017, the Company entered into an amendment (the “Third Amendment”) to the Second Amended and Restated Credit Agreement. The Third Amendment increased the borrowing limit under the revolving credit facility from $225 million to $325 million and reset the uncommitted accordion feature to $125 million for potential future expansion. Additionally, the Third Amendment increased the term loan balance from $65.6 million to $90.6 million. Under the Third Amendment, the Company is required to pay quarterly scheduled principal repayments of $2.3 million beginning in October 2017, with the final installment of $56.1 million due upon maturity in May 2021. Borrowings under the revolving credit facility may be repaid at any time through May 2021, the date of maturity of the Senior Credit Facilities. The Company may voluntarily prepay loans or reduce commitments under the Senior Credit Facilities, in whole or in part, without premium or penalty, subject to certain minimum principal amounts. On February 26, 2018, the Company entered into a fourth amendment (the “Fourth Amendment”) to the Second Amended and Restated Credit Agreement. The Fourth Amendment increased the maximum permitted consolidated leverage ratio from 3.00 to 3.50, increased the maximum consolidated leverage ratio for permitted acquisitions and stock repurchases from 2.50 to 3.00, increased the maximum permitted consolidated leverage ratio for a designated acquisition from 3.00 to 3.50, and increased the maximum permitted leverage ratio for four consecutive quarters following a designated acquisition from 3.50 to 4.00. The Fourth Amendment also made certain other technical changes to the Second Amended and Restated Credit Agreement. As of December 31, 2018, the outstanding principal under the Company’s term loan facility is scheduled to be repaid as follows (in thousands): Principal Amount 2019 $ 4,600 2020 9,200 2021 60,725 Total debt repayments $ 74,525 The Company may be required to prepay outstanding loans under the Second Amended and Restated Credit Agreement with the net proceeds of certain asset dispositions and incurrences of certain debt. At the election of the Company, and so long as no default shall have occurred, the Company may reinvest all, or any portion of, the net proceeds from such asset dispositions or incurrences of debt within a year. As of December 31, 2018, the Company had $189.9 million available to be drawn under the revolving credit facility. Excluding commitment fees, the weighted average interest rate for the Senior Credit Facilities was approximately 3.37% as of December 31, 2018. The commitment fee rate for the unused commitments under the revolving credit facility was approximately 0.4% as of December 31, 2018. Guarantees The Senior Credit Facilities is guaranteed by Novanta Inc., Novanta Corporation, NDS Surgical Imaging LLC, Novanta Europe GmbH, Novanta UK Investments Holding Limited and Novanta Technologies UK Limited (collectively, “Guarantors”). Each Guarantor, jointly and severally, unconditionally guarantees the due and punctual payment of the principal, interest and fees under the Senior Credit Facilities, when due and payable, whether at maturity, by required prepayment, by acceleration or otherwise. In addition, Guarantors guarantee the due and punctual payment, fees and interest on the overdue principal of the Senior Credit Facilities and the due and punctual performance of all obligations of the Company in accordance with the terms of the Second Amended and Restated Credit Agreement. Furthermore, each Guarantor, jointly and severally, unconditionally guarantees that in the event of any extension, renewal, amendment, refinancing or modification of any of the Senior Credit Facilities, amounts due will be promptly paid in full when due in accordance with the terms of the extension or renewal, at stated maturity, by acceleration or otherwise. The obligations of each Guarantor are limited to the maximum amount, after giving effect to all other contingent and fixed liabilities or any collections from, or payments made by or on behalf of, any other Guarantor. Each Guarantor that makes a payment or distribution under a Guarantee is entitled to a contribution from each other Guarantor of its pro rata share based on the adjusted net assets of each Guarantor. If at any time any payment of any of the obligations of the Guarantors is rescinded or must otherwise be returned upon the insolvency, bankruptcy or reorganization of the Company, a Guarantor or otherwise, the Guarantees will continue to be effective or be reinstated, as the case may be, as though such payment had not been made. Each Guarantor may be released from its obligations under its respective Guarantee and its obligations under the Second Amended and Restated Credit Agreement upon the occurrence of certain events, including, but not limited to: (i) the Guarantor ceasing to be a subsidiary; and (ii) payment in full of the principal and accrued and unpaid interest on the Senior Credit Facilities and all other obligations. The maximum potential amount of future payments the Guarantors could be required to make under the Guarantee is the principal amount of the Senior Credit Facilities plus all accrued and unpaid interest thereon. However, as of December 31, 2018, the Guarantors were not expected to be required to perform under the Guarantee. Liens The Company’s obligations under the Senior Credit Facilities are secured, on a senior basis, by a lien on substantially all of the assets of Novanta Inc., Novanta Corporation, NDS Surgical Imaging LLC, Novanta Europe GmbH, Novanta UK Investments Holding Limited and Novanta Technologies UK Limited. The Second Amended and Restated Credit Agreement also contains customary events of default. Deferred Financing Costs The Company capitalized deferred financing costs related to the execution of the Third Amendment dated August 1, 2017, the Second Amended and Restated Credit Agreement dated May 19, 2016 and the amended and restated credit agreement dated December 27, 2012. The Company allocated the deferred financing costs between the term loan and the revolving credit facility based on the maximum borrowing capacity and amortizes the costs on a straight-line basis over the term of the Senior Credit Facilities. Non-cash interest expense related to the amortization of the deferred financing costs was $1.0 million, $0.8 million and $0.9 million in 2018, 2017 and 2016, respectively. Unamortized deferred financing costs are presented as a reduction to the debt balances on the consolidated balance sheets. Fair Value of Debt As of December 31, 2018 and 2017, the outstanding balance of the Company’s debt approximated its fair value based on current rates available to the Company for debt of the same maturities. The fair value of the Company’s debt is classified as Level 2 under the fair value hierarchy.

Capital Stock and Share-Based C

Capital Stock and Share-Based Compensation	12 Months Ended
	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Capital Stock and Share-Based Compensation	13. Capital Stock and Share-Based Compensation Capital Stock The authorized capital of the Company consists of an unlimited number of common shares without nominal or par value. Holders of common shares are entitled to one vote per share. Holders of common shares are entitled to receive dividends, if and when declared by the Board of Directors, and to share ratably in its assets legally available for distribution to the stockholders in the event of liquidation. Holders of common shares have no redemption or conversion rights. Common Stock Repurchases In October 2013, the Company’s Board of Directors authorized a share repurchase plan (the “2013 Repurchase Plan”) under which the Company could repurchase outstanding shares of the Company’s common stock up to an aggregate amount of $10.0 million. During 2018, the Company repurchased 89 thousand shares in the open market for an aggregate purchase price of $5.9 million at an average price of $65.43 per share. As of December 31, 2018, the Company had repurchased an aggregate of 385 thousand shares for an aggregate purchase price of $10.0 million at an average price of $25.97 per share. As of December 31, 2018, the Company had completed the 2013 Repurchase Plan. In October 2018, the Company’s Board of Directors approved a new share repurchase plan (the “2018 Repurchase Plan”) authorizing the repurchase of an additional $25.0 million worth of common shares. Under the 2018 Repurchase Plan, shares may be repurchased from time to time, at the Company’s discretion, based on ongoing assessment of the capital needs of the business, the market price of the Company’s common stock, and general market conditions. Shares may also be repurchased through an accelerated stock purchase agreement, on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. Repurchases may be made under certain SEC regulations, which would permit common stock to be repurchased when the Company would otherwise be prohibited from doing so under insider trading laws. The 2018 Repurchase Plan does not obligate the Company to acquire any particular amount of common stock. No time limit was set for the completion of the 2018 Repurchase Plan, and the plan may be suspended or discontinued at any time. The Company expects to fund the share repurchases through cash on hand and future cash generated from operations. As of December 31, 2018, no shares had been repurchased under the 2018 Repurchase Plan. 2010 Incentive Award Plan In November 2010, the Company’s stockholders approved the 2010 Incentive Award Plan (the “2010 Incentive Plan”) under which the Company may grant share-based compensation awards to employees, consultants and directors. In May 2014, the Company’s stockholders approved the amended and restated 2010 Incentive Award Plan and, in July 2016, the Company approved a further amended and restated 2010 Incentive Award Plan (as amended, the “Amended and Restated 2010 Incentive Plan”). The maximum number of shares which can be issued pursuant to the Amended and Restated 2010 Incentive Plan is 4,398,613, subject to adjustment as set forth in the Amended and Restated 2010 Incentive Plan. The Amended and Restated 2010 Incentive Plan provides for the grant of incentive stock options, non-qualified stock options, restricted stock, restricted stock units, stock appreciation rights, deferred stock, deferred stock units, dividend equivalents, performance awards and stock payments (collectively referred to as “Awards”). The Amended and Restated 2010 Incentive Plan provides for specific limits on the number of shares with respect to Awards that may be granted to any person during any calendar year and the amount of cash that can be paid with respect to Awards to any one person during any calendar year. The Amended and Restated 2010 Incentive Plan will expire and no further Awards may be granted after April 9, 2024. As of December 31, 2018, there were 950,865 shares available for future awards under the Amended and Restated 2010 Incentive Plan. Shares subject to Awards that have expired, forfeited or settled in cash, or repurchased by the Company at the same price paid by the awardee may be added back to the number of shares available for grant under the Amended and Restated 2010 Incentive Plan and may be granted as new Awards. Notwithstanding the foregoing, the following shares will not be added back to the number of shares available for grant: (a) shares that are used to pay the exercise price for an option, (b) shares tendered or withheld to pay taxes with respect to any Award (other than options and stock appreciation rights) to the extent they exceed the number of shares with a fair market value equal to the tax liability based on minimum withholding rates, (c) shares tendered or withheld to pay taxes with respect to options and stock appreciation rights, (d) shares subject to a stock appreciation right that are not issued in connection with the stock settlement of the stock appreciation right on exercise thereof, and (e) shares purchased on the open market with the cash proceeds from the exercise of options. Shares issued to satisfy Awards under the Amended and Restated 2010 Incentive Plan may be previously authorized but unissued shares, treasury shares or shares repurchased on the open market. Share-Based Compensation Expense The table below summarizes share-based compensation expense recorded in operating income (in thousands): Year Ended December 31, 2018 2017 2016 Selling, general and administrative $ 6,997 $ 5,065 $ 3,920 Research and development and engineering 438 221 117 Cost of revenue 211 207 256 Restructuring, acquisition and divestiture related costs 68 — — Total share-based compensation expense $ 7,714 $ 5,493 $ 4,293 The expense recorded during each of the years ended December 31, 2018, 2017 and 2016 included $0.5 million related to deferred stock units granted to the members of the Company’s Board of Directors pursuant to the Company’s Amended and Restated 2010 Incentive Plan. As of December 31, 2018, the Company’s outstanding equity awards for which compensation expense will be recognized in the future consist of time-based restricted stock units, performance stock units, and stock options granted under the Amended and Restated 2010 Incentive Plan. The Company expects to record an aggregate share-based compensation expense of $13.1 million, net of estimated forfeitures, over a weighted average period of 2.24 years subsequent to December 31, 2018, for all outstanding equity awards as of December 31, 2018. Restricted Stock Units and Deferred Stock Units The Company’s restricted stock units (“RSUs”) have generally been issued with vesting periods ranging from three years to five years and vest based solely on service conditions. Accordingly, the Company recognizes compensation expense on a straight-line basis over the requisite service period. The Company reduces the compensation expense by an estimated forfeiture rate which is based on anticipated forfeitures and actual experience. Deferred stock units (“DSUs”) are granted to the members of the Company’s Board of Directors. The compensation expense associated with the DSUs is recognized in full on the respective date of grant, as DSUs are fully vested and non-forfeitable upon grant. The table below summarizes activities relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan during 2018: Restricted and Deferred Stock Units (In thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Vesting Period (in years) Aggregate Intrinsic Value (1) (In thousands) Unvested at December 31, 2017 614 $ 18.35 Granted 130 $ 55.27 Vested (188 ) $ 18.77 Forfeited (27 ) $ 24.53 Unvested at December 31, 2018 529 $ 26.98 1.59 years $ 33,308 Expected to vest as of December 31, 2018 509 $ 26.31 1.59 years $ 32,041 (1) The aggregate intrinsic value is calculated based on the fair value of $63.00 per share of the Company’s common stock on December 31, 2018 due to the fact that the restricted stock units carry a $0 purchase price. The total fair value of restricted stock units that vested in 2018 and deferred stock units that were granted and vested in 2018, based on the market price of the underlying stock on the day of vesting, was $10.5 million. Performance Stock Units The Company granted two types of performance-based stock awards to certain members of the executive management team: non-GAAP EPS performance-based restricted stock units (“EPS-PSUs”) and relative total shareholder return performance-based restricted stock units (“TSR-PSUs”). Both types of performance-based restricted stock units generally cliff vest on the first day following the end of the three-year performance period. The number of common shares to be issued upon settlement following vesting of the EPS-PSUs is determined based on the Company’s cumulative non-GAAP EPS over the three-year performance period against the target established by the Company’s Board of Directors at the time of grant and will be in the range of zero to 200% of the target number of shares. The Company recognizes compensation expense ratably over the performance period based on the number of shares that are deemed probable of vesting at the end of the three-year performance cycle. This probability assessment is performed quarterly and the cumulative effect of a change in the estimated compensation expense, if any, is recognized in the consolidated statement of operations in the period in which such determination is made. The number of common shares to be issued upon settlement following vesting of the TSR-PSUs is determined based on the relative market performance of the Company’s common stock compared to the Russell 2000 Index over the three-year performance period using a payout formula established by the Company’s Board of Directors at the time of grant and will be in the range of zero to 200% of the target number of shares. The Company recognizes the related compensation expense based on the fair value of the TSR-PSUs, determined using Monte-Carlo valuation model as of the grant date, on a straight-line basis from the grant date to the end of the three-year performance period. Compensation expense will not be affected by the number of TSR-PSUs that will actually vest at the end of the three-year performance period. The table below summarizes activities relating to performance-based stock awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during 2018: Performance Stock Units (1) (in thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Vesting Period (in years) Aggregate Intrinsic Value (2) (in thousands) Unvested at December 31, 2017 89 $ 24.00 Granted 48 $ 62.17 Vested — $ — Forfeited — $ — Unvested at December 31, 2018 137 $ 37.28 1.14 years $ 8,645 Expected to vest as of December 31, 2018 167 $ 33.21 1.14 years $ 10,491 (1) The unvested PSUs are shown in this table at target, except for the number of shares vested, which reflect the shares earned and number of shares expected to vest. As of December 31, 2018, the maximum number of PSUs available to be earned is approximately 274 thousand. (2) The aggregate intrinsic value is calculated based on the fair value of $63.00 per share of the Company’s common stock on December 31, 2018 due to the fact that the performance stock units carry a $0 purchase price. The fair value of the TSR-PSUs at the date of grant was estimated using the Monte-Carlo valuation model with the following assumptions: Year Ended December 31, 2018 Grant-date stock price $ 53.85 Expected volatility 30.35 % Risk-free interest rate 2.37 % Expected annual dividend yield — Weighted average fair value $ 70.49 Stock Options On March 30, 2016, the Company granted 193 thousand stock options to certain members of the executive management team to purchase common shares of the Company at a price equal to the closing market price of the Company’s common shares on the date of grant. The stock options vest ratably on the anniversary date of the grant date over a three-year period and expire on the tenth anniversary of the grant date. The fair value of stock options is estimated using the Black-Scholes valuation model. Key input assumptions used to estimate the fair value of stock options include the expected option term, the expected volatility of the Company’s common stock over the expected term of the options, the risk-free interest rate, and the expected dividend yield. The Company recognizes the compensation expense of stock options on a straight-line basis in the consolidated statement of operations over the vesting period. No stock options were granted or exercised during 2018. The following table shows stock options that were outstanding, exercisable and expected to vest as of December 31, 2018 and the related weighted average exercise price, weighted average remaining contractual term and aggregate intrinsic value: Number of Shares (In thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (1) (In thousands) Stock options outstanding 103 $ 14.13 7.25 $ 5,027 Stock options exercisable 69 $ 14.13 7.25 $ 3,351 Stock options expected to vest 34 $ 14.13 7.25 $ 1,676 (1) The aggregate intrinsic value is calculated as the difference between the closing market price of $63.00 per share of the Company’s common stock on December 31, 2018 and the exercise price of the stock options.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	14. Employee Benefit Plans Defined Contribution Plans The Company has defined contribution employee savings plans in the U.K., Japan, and the U.S. The Company matches the contributions of participating employees on the basis of percentages specified in each plan. Company matching contributions to the plans were $3.9 million, $3.1 million and $2.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. Defined Benefit Plans The Company maintains a frozen defined benefit pension plan in the United Kingdom (the “U.K. Plan”). The U.K. Plan was closed to new membership in 1997 and stopped accruing additional pension benefits for existing members in 2003. Benefits under the U.K. Plan were based on the employees’ years of service and compensation as of the date the plan was frozen in 2003, adjusted for inflation. The Company continues to fund the plan in accordance with the pension regulations in the U.K. and based on periodic agreements with the trustees of the U.K. Plan. The net periodic pension cost consisted of the following components (in thousands): Year Ended December 31, 2018 2017 2016 Components of the net periodic pension cost: Interest cost $ 939 $ 991 $ 1,232 Expected return on plan assets (1,717 ) (1,665 ) (1,566 ) Amortization of actuarial losses 826 1,045 726 Net periodic pension cost $ 48 $ 371 $ 392 The actuarial assumptions used to compute the net periodic pension cost for the years ended December 31, 2018, 2017 and 2016, respectively, were as follows: Year Ended December 31, 2018 2017 2016 Weighted-average discount rate 2.4 % 2.6 % 3.8 % Weighted-average long-term rate of return on plan assets 4.8 % 5.2 % 5.3 % The actuarial assumptions used to compute the benefit obligations as of December 31, 2018 and 2017, respectively, were as follows: December 31, 2018 2017 Weighted-average discount rate 2.7 % 2.4 % Rate of inflation 2.8 % 2.9 % The discount rates used are derived from (AA) corporate bonds that have maturities approximating the terms of the pension obligations under the U.K. Plan. In estimating the expected return on plan assets, the Company considered the historical performance of the major asset classes held by the U.K. Plan and current forecasts of future rates of return for these asset classes. The following table provides a reconciliation of benefit obligations and plan assets of the U.K. Plan (in thousands): December 31, 2018 2017 Change in benefit obligation: Projected benefit obligation at beginning of year $ 40,329 $ 37,261 Interest cost 939 991 Actuarial (gains) losses (1,718 ) (27 ) Benefits paid (1,301 ) (1,313 ) Prior service cost (1) 754 — Foreign currency exchange rate changes (2,121 ) 3,417 Projected benefit obligation at end of year $ 36,882 $ 40,329 Accumulated benefit obligation at end of year $ 36,882 $ 40,329 Change in plan assets: Fair value of plan assets at beginning of year $ 36,476 $ 31,304 Actual return on plan assets (1,083 ) 2,605 Employer contributions 941 887 Benefits paid (1,301 ) (1,313 ) Foreign currency exchange rate changes (1,909 ) 2,993 Fair value of plan assets at end of year $ 33,124 $ 36,476 Funded status at end of year $ (3,758 ) $ (3,853 ) Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost: Net actuarial losses at beginning of year $ (10,493 ) $ (11,697 ) Net actuarial gains (losses) during the year (1,082 ) 967 Prior service cost arising during the year (1) (754 ) — Amounts reclassified from accumulated other comprehensive income to income before income taxes 826 1,045 Foreign currency exchange rate changes 383 (808 ) Net actuarial loss $ (11,120 ) $ (10,493 ) Amounts expected to be amortized from accumulated other comprehensive loss into net periodic pension cost over the next fiscal year consists of: Net actuarial loss $ 959 $ 957 Prior service cost 29 — (1) On October 26, 2018, the High Court of Justice in the U.K. ruled that the Guaranteed Minimum Pensions (“GMPs”) provided by pension schemes need to equalize lifetime GMP benefits between genders. In order to meet the requirements set out by the High Court, the Company recorded an estimate of $0.8 million additional benefit obligations based on the existing plan participants, the date the U.K. Plan was allowed to stop accruing additional benefits, the pension plan rules and the approach taken to equalize the benefits. The additional benefit obligation will be amortized and recognized as part of net periodic pension cost in the consolidated statement of operations over the average remaining life expectancy of the plan participants. The funded status of the U.K. Plan is included in other long term liabilities in the accompanying consolidated balance sheets. The following table reflects the total expected benefit payments to plan participants and have been estimated based on the same assumptions used to measure the Company’s benefit obligations as of December 31, 2018 (in thousands): Amount 2019 $ 859 2020 1,133 2021 1,197 2022 1,038 2023 1,137 2024-2026 8,370 Total $ 13,734 In the U.K., funding valuations are conducted every three years in order to determine the future level of contributions. Based on the results of the most recent valuation, the Company’s annual contributions will be approximately $0.9 million in 2019 and will increase by 2.9% per year thereafter. Fair Value of Plan Assets The trustees of the U.K. Plan have the fiduciary responsibilities to manage the plan assets in consultation with the Company. The overall objective is to invest plan assets in a portfolio of diversified assets, primarily through the use of institutional collective funds, to achieve balanced growth through a combination of investments in equities for long-term growth and investments in debt instruments that match a portion of the expected future benefit payments and to maintain adequate liquidity to make pension payments to pensioners. The following table summarizes the fair values of Plan assets by asset category as of December 31, 2018 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Not Subject to Leveling Mutual Funds: Balanced (1) $ 24,564 $ — $ — $ — $ 24,564 Fixed income (2) 8,451 — — — 8,451 Cash 109 109 — — — Total $ 33,124 $ 109 $ — $ — $ 33,015 (1) This class comprises a diversified portfolio of global investments which seeks a balanced return between capital growth and fixed income and is allocated on a weighted average basis as follows: equities (42%), bonds (19%), other assets (38%) and cash (1%). (2) This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds (86%) and cash (14%). The following table summarizes the fair values of Plan assets by asset category as of December 31, 2017 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Not Subject to Leveling Mutual Funds: Balanced (1) $ 26,816 $ — $ — $ — $ 26,816 Fixed income (2) 9,524 — — — 9,524 Cash 136 136 — — — Total $ 36,476 $ 136 $ — $ — $ 36,340 (1) This class comprises a diversified portfolio of global investments which seeks a balanced return between capital growth and fixed income and is allocated on a weighted average basis as follows: equities (38%), bonds (27%), other assets (31%) and cash (4%). (2) This class comprises a diversified portfolio of global investments which seeks long-term capital growth and is allocated on a weighted average basis as follows: bonds (92%) and cash (8%).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes Components of the Company’s income (loss) before income taxes are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Income (loss) before income taxes: Canada $ (796 ) $ (2,036 ) $ (1,872 ) U.S. 39,356 37,327 20,422 Other 22,742 40,843 13,972 Total $ 61,302 $ 76,134 $ 32,522 Components of the Company’s income tax provision (benefit) are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Current Canada $ 75 $ 146 $ 43 U.S. 8,095 9,434 9,678 Other 8,113 6,807 2,564 16,283 16,387 12,285 Deferred Canada — — — U.S. (2,272 ) 2,396 (2,378 ) Other (3,804 ) (4,956 ) 612 (6,076 ) (2,560 ) (1,766 ) Total $ 10,207 $ 13,827 $ 10,519 The Company is incorporated in Canada and therefore uses the Canadian statutory rate for income tax disclosure. The reconciliation of the statutory Canadian tax rate to the effective tax rate related to income before income taxes is as follows (in thousands, except percentage data): Year Ended December 31, 2018 2017 2016 Statutory Canadian tax rate 29.00 % 29.00 % 28.50 % Expected income tax provision at Canadian statutory tax rate $ 17,778 $ 22,079 $ 9,269 International tax rate differences (4,474 ) (2,038 ) 891 U.S. state income taxes, net 831 674 503 Withholding and other taxes 550 484 441 Permanent differences and other 1,015 1,582 84 Section 199 deduction — (1,148 ) (1,063 ) Foreign-derived intangible income (1,628 ) — — Tax credits (1,250 ) (984 ) (1,095 ) Statutory tax rate changes (285 ) 2,823 (856 ) Uncertain tax positions 190 (1,607 ) (103 ) Change in valuation allowance (262 ) (354 ) 1,202 Acquisition contingent consideration adjustments 833 149 762 Transaction costs 172 1,011 649 Provision to return differences (385 ) 225 (93 ) Benefit from share-based compensation (931 ) (837 ) (72 ) Gain on Laser Quantum acquisition — (6,586 ) — UK patent box (1,947 ) (1,646 ) — Reported income tax provision $ 10,207 $ 13,827 $ 10,519 Effective tax rate 16.7 % 18.2 % 32.3 % On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The Tax Reform Act significantly changed U.S. tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system, providing a one-time transition tax on the repatriation of foreign earnings (the “Toll Charge”), creating a new limitation on deductible interest expense and modifying the limitation on officer compensation. The Tax Reform Act permanently reduced the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. As a result of the Tax Reform Act, the Company revalued its deferred tax assets and liabilities as of December 31, 2017 at the new 21% U.S. federal corporate income tax rate. Because of the ownership structure of the Company, the Company’s foreign entities outside the U.S. are not considered controlled foreign corporations of the U.S. company, as defined under U.S. tax principles, and accordingly, the accumulated earnings of these foreign subsidiaries are not subject to the one-time Toll Charge or global intangible low-taxed income (the “GILTI”) under the Tax Reform Act. In addition, the Company is not currently subject to the base erosion anti-abuse tax (the “BEAT”) as the Company’s revenue is below the threshold requirement under the Tax Reform Act. During the year ended December 31, 2018, there were no changes made to the provisional amounts recognized in 2017 in connection with the enactment of the Tax Reform Act. The accounting for the income tax effects of the Tax Reform Act is completed as of December 31, 2018. Deferred income taxes result principally from temporary differences in the recognition of certain revenue and expense items and operating loss and tax credit carryforwards for financial and tax reporting purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows (in thousands): December 31, 2018 2017 Deferred tax assets: Losses $ 9,385 $ 9,407 Compensation related deductions 4,780 3,687 Inventories 4,170 3,400 Tax credits 2,785 2,594 Unrealized currency gains/losses — 183 Restructuring related liabilities 202 172 Warranty 35 768 Other 885 — Total deferred tax assets 22,242 20,211 Valuation allowance on deferred tax assets (12,884 ) (12,811 ) Net deferred tax assets $ 9,358 $ 7,400 Deferred tax liabilities: Depreciation $ (1,867 ) $ (1,353 ) Amortization (20,258 ) (23,496 ) Unrealized currency gains/losses (373 ) — Other — (1,171 ) Total deferred tax liabilities $ (22,498 ) $ (26,020 ) Net deferred income tax assets (liabilities) $ (13,140 ) $ (18,620 ) In determining its income tax provisions, the Company calculated deferred tax assets and liabilities for each separate jurisdiction. The Company then considered a number of factors, including positive and negative evidence related to the realization of its deferred tax assets, to determine whether a valuation allowance should be recognized with respect to its deferred tax assets. In 2018, the Company recorded an additional $0.4 million valuation allowance associated with an increase in deferred tax assets in Canada. In 2018, the Company released valuation allowance of $0.3 million recorded on net operating losses and other timing items in certain tax jurisdictions. In 2017, the Company released valuation allowance of $0.4 million recorded on net operating losses and other timing items in certain tax jurisdictions. Valuation allowance continues to be provided on the remaining balances of certain U.S. state net operating losses and certain foreign tax attributes that the Company has determined that it is more likely than not that they will not be realized. In conjunction with the Company’s ongoing review of its actual results and anticipated future earnings, the Company continuously reassesses the possibility of releasing the valuation allowance currently in place on its deferred tax assets. As of December 31, 2018, the Company had net operating loss carryforwards of $3.7 million (tax effected) available to reduce future taxable income. Of this amount, approximately $0.7 million relates to the U.S. and expires through 2037; and $3.0 million relates to Canada and expires starting in 2033. In addition, the Company had capital loss carryforwards of $5.7 million, which had a full valuation allowance. Of this amount, $5.2 million and $0.5 million related to Canada and the U.K, respectively. As of December 31, 2017, the Company had net operating loss carryforwards of $3.7 million (tax effected) available to reduce future taxable income. Of this amount, approximately $1.0 million relates to the U.S. and expires through 2036; and $2.7 million relates to Canada and expires starting in 2032. In addition, the Company had capital loss carryforwards of $5.7 million, which had a full valuation allowance. Of this amount, $5.2 million and $0.5 million related to Canada and the U.K, respectively. As of December 31, 2018, the Company had tax credit carryforwards of approximately $2.8 million available to reduce income taxes in future years. Approximately $0.9 million relates to the U.S. state tax credits, of which $0.8 million will expire through 2033 and $0.1 million can be carried forward indefinitely. The remaining $1.9 million tax credit carryforwards were related to Canada, of which $1.2 million expires through 2022 and $0.7 million can be carried forward indefinitely. As of December 31, 2017, the Company had tax credit carryforwards of approximately $2.6 million available to reduce income taxes in future years. Approximately $0.7 million relates to the U.S. state tax attributes, of which $0.6 million will expire through 2032 and $0.1 million can be carried forward indefinitely. The remaining $1.9 million tax credit carryforwards were related to Canada, of which $1.2 million expires through 2022 and $0.7 million can be carried forward indefinitely. Income and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting purposes over the tax basis of investments in foreign subsidiaries that are essentially permanent in nature. This amount becomes taxable upon a repatriation of assets from a subsidiary or a sale or liquidation of a subsidiary. The amount of undistributed earnings of foreign subsidiaries totaled $135.6 million as of December 31, 2018. However, these undistributed earnings are generally not subject to the repatriation taxes under the Tax Reform Act. The estimated unrecognized income tax and foreign withholding tax liability on this temporary difference is approximately $0.3 million. As of December 31, 2018, the Company’s total amount of gross unrecognized tax benefits was $4.7 million, of which $3.6 million would favorably affect the effective tax rate if benefited. Over the next twelve months, the Company may need to record up to $0.5 million of previously unrecognized tax benefits due to statute of limitations closures. The Company believes there are no jurisdictions in which the outcome of unresolved issues or claims is likely to be material to its results of operations, financial position or cash flows. Furthermore, the Company believes that it has adequately provided for all income tax uncertainties. As of December 31, 2017, the Company’s total amount of gross unrecognized tax benefits was $4.1 million, of which $3.4 million would favorably affect the effective tax rate if benefited. Over the next twelve months, the Company may need to record up to $0.2 million of previously unrecognized tax benefits due to statute of limitations closures. The Company believes there are no jurisdictions in which the outcome of unresolved issues or claims is likely to be material to its results of operations, financial position or cash flows. Furthermore, the Company believes that it has adequately provided for all income tax uncertainties. The reconciliation of the total amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2015 $ 5,490 Additions based on tax positions related to the current year 561 Additions for tax positions of prior years 88 Reductions to tax positions of prior years (45 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (842 ) Settlements with tax authorities (290 ) Balance at December 31, 2016 4,962 Additions based on tax positions related to the current year 991 Additions for tax positions of prior years 496 Reductions to tax positions of prior years (28 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (1,577 ) Settlements with tax authorities (755 ) Balance at December 31, 2017 4,089 Additions based on tax positions related to the current year 394 Additions for tax positions of prior years 655 Reductions to tax positions of prior years (69 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (239 ) Settlements with tax authorities (105 ) Balance at December 31, 2018 $ 4,725 The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2018 and 2017, the Company had approximately $0.5 million and $0.4 million, respectively, of accrued interest and penalties related to uncertain tax positions. During the years ended December 31, 2018 and 2017, the Company recognized less than $0.1 million of expense for an increase in interest and penalties related to uncertain tax positions. The Company files income tax returns in Canada, the U.S., and various foreign jurisdictions. Generally, the Company is no longer subject to U.S. or foreign income tax examinations, including transfer pricing tax audits, by tax authorities for the years before 2009. The Company’s income tax returns may be reviewed by tax authorities in the following countries for the following periods under the appropriate statute of limitations: United States 2015 - Present Canada 2015 - Present United Kingdom 2017 - Present Germany 2014 - Present The Netherlands 2012 - Present China 2009 - Present Japan 2013 - Present

Restructuring, Acquisition and

Restructuring, Acquisition and Divestiture Related Costs	12 Months Ended
	Dec. 31, 2018
Restructuring And Related Activities [Abstract]
Restructuring, Acquisition and Divestiture Related Costs	16. Restructuring, Acquisition and Divestiture Related Costs The following table summarizes restructuring, acquisition and divestiture related costs recorded in the accompanying consolidated statements of operations (in thousands): Year Ended December 31, 2018 2017 2016 2019 restructuring $ 378 $ — $ — 2018 restructuring 1,647 — — 2016 restructuring — 332 3,049 2011 restructuring — 14 (79 ) Total restructuring and divestiture related charges $ 2,025 $ 346 $ 2,970 Acquisition and related charges 6,016 7,196 4,975 Total restructuring, acquisition and divestiture related costs $ 8,041 $ 7,542 $ 7,945 2019 Restructuring During the fourth quarter of 2018, the Company implemented a restructuring plan intended to realign operations, reduce costs, achieve operational efficiencies and focus resources on growth initiatives. In 2018, the Company recorded $0.4 million in severance and related costs in connection with the 2019 restructuring plan. These costs were primarily reported in the Vision reportable segment. The Company anticipates completing the 2019 restructuring program in 2019 and expects to incur restructuring charges of $2.0 million to $3.5 million related to the 2019 restructuring program in the next twelve months. 2018 Restructuring During the second quarter of 2018, the Company initiated a program to integrate manufacturing operations as a result of recent acquisition activities. In 2018, the Company recorded $1.6 million in severance and related costs in connection with the 2018 restructuring plan. The Company anticipates completing the 2018 restructuring program during the third quarter of 2019. The following table summarizes restructuring costs incurred to date and the Company’s expected cumulative costs associated with the 2018 restructuring program (in thousands): Year Ended Expected Cumulative Costs December 31, 2018 December 31, 2018 Photonics $ — $ — Vision 1,579 $2,300 - $2,600 Precision Motion — — Unallocated Corporate and Shared Services 68 $100 Total $ 1,647 $ $2,400 - $2,700 2016 Restructuring During the third quarter of 2015, the Company initiated the 2016 restructuring program, which included consolidating certain manufacturing operations to optimize facility footprint and better utilize resources, and reducing redundant costs due to productivity cost savings and business volume reductions. As of December 31, 2017, the Company incurred cumulative costs related to this restructuring plan totaling $6.5 million, net of the gain on the sale of the Chatsworth, California facility. The plan was completed in 2017. The following table summarizes restructuring costs associated with the 2016 restructuring program for each segment and unallocated corporate costs (in thousands): Year Ended Cumulative Costs as of December 31, 2017 December 31, 2016 December 31, 2017 Photonics $ — $ 813 $ 868 Vision 331 1,862 4,393 Precision Motion — 106 939 Unallocated Corporate and Shared Services 1 268 329 Total $ 332 $ 3,049 $ 6,529 2011 Restructuring In November 2011, the Company announced a strategic initiative (“2011 restructuring”) which aimed to consolidate operations to reduce the Company’s cost structure and improve operational efficiency. In total, eleven facilities have been exited as part of the 2011 restructuring plan. The Company substantially completed the 2011 restructuring program in 2013. In March 2016, the Company sold its previously exited Laser Systems facility located in Orlando, Florida for cash at the net carrying value of $3.5 million. In December 2016, the lease agreement for the Company’s previously exited laser scanner business facility was terminated, which resulted in a benefit of $0.2 million. The following table summarizes restructuring costs for each segment and unallocated corporate costs related to the 2011 restructuring plan (in thousands): Cumulative Year Ended December 31, Costs as of 2017 2016 December 31, 2017 Photonics $ — $ (188 ) $ 1,751 Vision — — 48 Precision Motion — — 122 Unallocated Corporate and Shared Services 14 109 3,276 Total $ 14 $ (79 ) $ 5,197 Rollforward of Accrued Expenses Related to Restructuring The following table summarizes the accrual activities, by component, related to the Company’s restructuring charges recorded in the accompanying consolidated balance sheets (in thousands): Total Severance Facility Other (a) Balance at December 31, 2016 $ 1,736 $ 611 $ 1,111 $ 14 Restructuring charges 346 185 146 15 Cash payments (1,212 ) (692 ) (503 ) (17 ) Non-cash write-offs and other adjustments (64 ) (65 ) 9 (8 ) Balance at December 31, 2017 806 39 763 4 Restructuring charges 2,025 1,862 — 163 Cash payments (1,490 ) (962 ) (373 ) (155 ) Non-cash write-offs and other adjustments (65 ) (63 ) (2 ) — Balance at December 31, 2018 $ 1,276 $ 876 $ 388 $ 12 (a) Other restructuring charges mainly related to consulting fees and relocation costs. The Company expects to make $1.1 million in cash payments during the twelve months ending December 31, 2019 . Acquisition and Divestiture Related Charges Acquisition related costs incurred to effect business combinations, primarily including finders’ fees, legal, valuation and other professional or consulting fees, totaled $1.4 million, $6.8 million, and $2.5 million during 2018, 2017, and 2016, respectively. Acquisition related costs recognized under earn-out agreements in connection with acquisitions totaled $4.6 million, $0.4 million, and $2.5 million during 2018, 2017, and 2016, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Operating Leases The Company leases certain equipment and facilities under operating lease agreements. Most of these lease agreements expire between 2019 and 2031. In the U.K., where longer lease terms are more common, the Company has a land lease that extends through 2078. During 2018, 2017 and 2016, the Company recorded lease expense of $7.4 million, $5.5 million and $4.2 million, respectively. In addition to the base rent, the Company is generally required to pay insurance, real estate taxes and maintenance costs which are recorded in lease expense. Capital Leases Gross assets under capital lease as of December 31, 2018 and 2017, respectively, are summarized as follows (in thousands): 2018 2017 Land, buildings and improvements $ 9,133 $ 9,133 Machinery and equipment 4,404 4,429 Total gross assets under capital lease $ 13,537 $ 13,562 Future Lease Payments Future minimum lease payments under operating and capital leases expiring subsequent to December 31, 2018, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands): Year Ended December 31, Operating Lease Capital Lease (1) 2019 $ 7,797 $ 990 2020 6,263 980 2021 5,757 907 2022 5,264 907 2023 4,719 930 Thereafter 26,149 5,394 Total minimum lease payments $ 55,949 $ 10,108 (1) Capital lease payments include interest payments of $2.3 million. Purchase Commitments As of December 31, 2018, the Company had purchase commitments primarily for inventory purchases of $99.0 million. These purchase commitments are expected to be incurred as follows: $93.9 million in 2019 and $5.1 million in 2020. Legal Proceedings The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. The Company reviews the status of each significant matter and assesses the potential financial exposure on a quarterly basis. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required in both the determination of probability and the determination as to whether an exposure is reasonably estimable. Because of uncertainties related to these matters, accruals are based only on the best information available as of the date of the consolidated balance sheet. As additional information becomes available, the Company reassesses the potential liability related to any pending claims and litigation and may revise its estimates. The Company does not believe that the outcome of these claims will have a material adverse effect upon its consolidated financial statements but there can be no assurance that any such claims, or any similar claims, would not have a material adverse effect upon its consolidated financial statements. Guarantees and Indemnifications In the normal course of its operations, the Company executes agreements that provide for indemnification and guarantees to counterparties in transactions such as business dispositions, sale of assets, sale of products and operating leases. Additionally, the by-laws of the Company require it to indemnify certain current or former directors, officers, and employees of the Company against expenses incurred by them in connection with each proceeding in which he or she is involved as a result of serving or having served in certain capacities. Indemnification is not available with respect to a proceeding as to which it has been adjudicated that the person did not act in good faith in the reasonable belief that the action was in the best interests of the Company. Certain of the Company’s officers and directors are also a party to indemnification agreements with the Company. These indemnification agreements provide, among other things, that the director and officer shall be indemnified to the fullest extent permitted by applicable law against all expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such officer or director in connection with any proceeding by reason of his or her relationship with the Company. In addition, the indemnification agreements provide for the advancement of expenses incurred by such director or officer in connection with any proceeding covered by the indemnification agreement, subject to the conditions set forth therein and to the extent such advancement is not prohibited by law. The indemnification agreements also set out the procedures for determining entitlement to indemnification, the requirements relating to notice and defense of claims for which indemnification is sought, the procedures for enforcement of indemnification rights, the limitations on and exclusions from indemnification, and the minimum levels of directors’ and officers’ liability insurance to be maintained by the Company. On July 1, 2013, the Company provided a Guarantee (the “Guarantee”) in favor of the trustees of the U.K. Plan with respect to all present and future obligations and liabilities (whether actual or contingent and whether owed jointly or severally and in any capacity whatsoever) of Novanta Technologies UK Limited, a wholly owned subsidiary of Novanta Inc. Credit Risks and Other Uncertainties The Company maintains financial instruments such as cash and cash equivalents and trade receivables. From time to time, certain of these instruments may subject the Company to concentrations of credit risk whereby one institution may hold a significant portion of the cash and cash equivalents, or one customer may represent a large portion of the accounts receivable balances. There was no significant concentration of credit risk related to the Company’s position in trade accounts receivable as no individual customer represented 10% or more of the Company’s outstanding accounts receivable at December 31, 2018 and 2017. Credit risk with respect to trade accounts receivables is generally minimized because of the diversification of the Company’s operations, as well as its large customer base and its geographical dispersion. Certain of the components and materials included in the Company’s products are currently obtained from single source suppliers. There can be no assurance that a disruption of the supply of such components and materials would not create substantial manufacturing delays and additional cost to the Company. The Company’s operations involve a number of other risks and uncertainties including, but not limited to, the effects of general economic conditions, rapidly changing technology, and international operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	18. Related Party Transactions Certain members of the Company’s board of directors currently serve on the board of directors or as an advisor of companies that are customers of the Company. All contracts with related parties are executed at arm’s length in the ordinary course of business. The aggregate revenue from these customers was $40.0 million in 2018. There was $0.6 million in accounts receivable due from these customers as of December 31, 2018. There were no material transactions with related parties in 2017 or 2016.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Information	19. Segment Information Reportable Segments The Company’s Chief Operating Decision Maker (“CODM”) utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company. The Company evaluates the performance of, and allocates resources to, its segments based on revenue, gross profit and operating profit. The Company’s reportable segments have been identified based on commonality and adjacency of technologies, applications and customers amongst the Company’s individual product lines. The Company determined that disclosing revenue by specific product was impracticable due to the highly customized and extensive portfolio of technologies offered to customers. Based upon the information provided to the CODM, the Company has determined it operates in three reportable segments: Photonics, Vision, and Precision Motion. The reportable segments and their principal activities consist of the following: Photonics The Photonics segment designs, manufactures and markets photonics-based solutions, including laser scanning, laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products to customers worldwide. The segment serves highly demanding photonics-based applications for advanced industrial processes, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors. Vision The Vision segment designs, manufactures and markets a range of medical grade technologies, including medical insufflators, pumps and related disposables; visualization solutions; wireless imaging and operating room integration technologies; optical data collection and machine vision technologies; radio frequency identification (“RFID”) technologies; thermal chart recorders; spectrometry technologies, and embedded touch screen solutions. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors. Precision Motion The Precision Motion segment designs, manufactures and markets optical and inductive encoders, precision motor and motion control sub-assemblies, air bearings, air bearing spindles and precision machined components to customers worldwide. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors. Reportable Segment Financial Information Revenue, gross profit, operating income (loss), depreciation and amortization expenses, accounts receivable and inventories by reportable segments are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Revenue Photonics $ 249,339 $ 232,359 $ 174,158 Vision 232,902 183,074 122,250 Precision Motion 132,096 105,857 88,350 Total $ 614,337 $ 521,290 $ 384,758 Year Ended December 31, 2018 2017 2016 Gross Profit Photonics $ 117,109 $ 106,117 $ 76,696 Vision 87,198 69,249 47,181 Precision Motion 59,477 46,564 40,044 Unallocated Corporate and Shared Services (2,256 ) (1,399 ) (1,469 ) Total $ 261,528 $ 220,531 $ 162,452 Year Ended December 31, 2018 2017 2016 Operating Income (Loss) Photonics $ 59,285 $ 51,660 $ 35,217 Vision 8,991 7,883 (1,277 ) Precision Motion 31,674 27,146 21,101 Unallocated Corporate and Shared Services (28,937 ) (29,123 ) (22,086 ) Total $ 71,013 $ 57,566 $ 32,955 Year Ended December 31, 2018 2017 2016 Depreciation and Amortization Expenses Photonics $ 12,042 $ 13,806 $ 6,738 Vision 20,657 13,590 10,402 Precision Motion 3,627 2,308 2,439 Unallocated Corporate and Shared Services 726 1,054 1,394 Total $ 37,052 $ 30,758 $ 20,973 December 31, 2018 2017 Accounts Receivable Photonics $ 31,536 $ 33,490 Vision 34,414 36,089 Precision Motion 18,005 11,903 Total accounts receivable $ 83,955 $ 81,482 Inventories Photonics 41,623 44,451 Vision 42,498 33,836 Precision Motion 20,643 12,991 Total inventories $ 104,764 $ 91,278 Total segment assets $ 188,719 $ 172,760 December 31, 2018 2017 Total Assets Total segment assets $ 188,719 $ 172,760 Cash and cash equivalents 82,043 100,057 Prepaid income taxes and income taxes receivable 1,852 4,387 Prepaid expenses and other current assets 9,155 10,675 Property, plant and equipment, net 65,464 61,718 Deferred tax assets 9,492 7,052 Other assets 2,269 4,018 Intangible assets, net 142,920 155,048 Goodwill 217,662 210,988 Total $ 719,576 $ 726,703 Geographic Information The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is as follows (in thousands, except percentage data): Year Ended December 31, 2018 2017 2016 Revenue % of Total Revenue % of Total Revenue % of Total United States $ 242,243 39.4 % $ 220,583 42.3 % $ 154,756 40.2 % Germany 88,027 14.3 68,003 13.0 55,940 14.5 Rest of Europe 105,608 17.2 81,001 15.5 51,705 13.4 China 66,414 10.8 56,128 10.8 44,225 11.5 Rest of Asia-Pacific 104,300 17.0 84,727 16.3 60,104 15.6 Other 7,745 1.3 10,848 2.1 18,028 4.8 Total $ 614,337 100.0 % $ 521,290 100.0 % $ 384,758 100.0 % Long-lived assets consist of property, plant and equipment, net, and are aggregated based on the location of the assets. A summary of these long-lived assets is as follows (in thousands): December 31, 2018 2017 United States $ 32,029 $ 29,920 Europe 31,696 30,621 China 1,636 1,127 Rest of Asia-Pacific 103 50 Total $ 65,464 $ 61,718 Revenue by End Market The Company primarily operates in two end markets: the advanced industrial market and the medical market. Revenue by end market was approximately as follows: Year Ended December 31, 2018 2017 2016 Advanced Industrial 50 % 50 % 60 % Medical 50 % 50 % 40 % Total 100 % 100 % 100 % The majority of revenue from the Photonics and Precision Motion segments is generated from sales to customers in the advanced industrial market. The majority of revenue from the Vision segment is generated from sales to customers in the medical market. Significant Customers No customer accounted for greater than 10% of the Company’s revenue during the years ended December 31, 2018, 2017 or 2016.

Organization and Presentation (

Organization and Presentation (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with accounting principles generally accepted in the U.S., applied on a consistent basis. The consolidated financial statements include the accounts of Novanta Inc. and its subsidiaries. Intercompany accounts and transactions have been eliminated. Prior to January 10, 2017, the Company had an approximately 41% ownership interest in Laser Quantum Limited (“Laser Quantum”), a privately held company located in the United Kingdom, which was accounted for under the equity method of accounting. During the years ended December 31, 2017 and 2016, the Company recognized income from its equity method investment amounting to $0.1 million and $2.2 million, respectively, which was included in other income (expense) in the accompanying consolidated statements of operations. On January 10, 2017, the Company acquired an additional approximately 35% of the outstanding shares of Laser Quantum. As a result of this transaction, the Company’s ownership position in Laser Quantum increased from approximately 41% to approximately 76%. Since January 10, 2017, Laser Quantum has been consolidated in the Company’s consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Estimates and assumptions are reviewed on an on-going basis and the effects of revisions are reflected in the period in which they are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates.
Foreign Currency Translation	Foreign Currency Translation The financial statements of the Company and its subsidiaries outside the U.S. have been translated into U.S. dollars. Assets and liabilities of foreign operations are translated from foreign currencies into U.S. dollars at the exchange rates in effect as of the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates for the period. Accordingly, gains and losses resulting from translating foreign currency financial statements are reported as cumulative translation adjustments, a separate component of other comprehensive income (loss) in stockholders’ equity. Foreign currency transaction gains and losses, from transactions denominated in currencies other than the functional currencies, are included in the accompanying consolidated statements of operations.
Cash Equivalents	Cash Equivalents Cash equivalents are highly liquid investments with original maturities of three months or less. These investments are carried at cost, which approximates fair value.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amounts, net of an allowance for doubtful accounts based on the Company’s best estimate of probable credit losses resulting from the inability of the Company’s customers to make required payments. The Company determines the allowance based on a variety of factors, including the age of amounts outstanding relative to their contractual due date, specific customer factors, and other known risks and economic trends. Charges related to the allowance for doubtful accounts are included as selling, general and administrative expenses and are recorded in the period that the outstanding receivables are determined to be uncollectible. Account balances are charged off against the allowance when the Company believes it is certain that the receivable will not be recovered. For the years ended December 31, 2018, 2017 and 2016, changes in the allowance for doubtful accounts were as follows (in thousands): 2018 2017 2016 Balance at beginning of year $ 554 $ 565 $ 500 Provision charged to selling, general and administrative expenses 66 283 135 Allowance resulting from acquisitions — 52 15 Write-offs, net of recoveries of amounts previously reserved (295 ) (358 ) (82 ) Exchange rate changes (4 ) 12 (3 ) Balance at end of year $ 321 $ 554 $ 565
Inventories	Inventories Inventories, which include materials and conversion costs, are stated at the lower of cost or net realizable value, using the first-in, first-out method. Cost includes the cost of purchased materials, inbound freight charges, external and internal processing and applicable labor and overhead costs. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company periodically reviews quantities of inventories on hand and compares these amounts to the expected use of each product. The Company records a charge to cost of revenue for the amount required to reduce the carrying value of inventory to the net realizable value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost, adjusted for any impairment, less accumulated depreciation. The Company uses the straight-line method to calculate the depreciation of its property, plant and equipment over their estimated useful lives. Estimated useful lives range from 3 to 30 years for buildings and building improvements and 3 to 10 years for machinery and equipment. Leasehold improvements are depreciated over the lesser of their useful lives or the lease terms, including any renewal period options that are reasonably assured of being exercised. Repairs and maintenance costs are expensed as incurred. Certain costs to develop software for internal use are capitalized when the criteria under Accounting Standards Codification (“ASC”) 350-40, “Internal-Use Software,” are met. Lease arrangements meeting the criteria of ASC 840-30, “Leases – Capital Leases,” are capitalized based on the present value of future minimum lease payments and depreciated over the term of the lease.
Goodwill, Intangibles and Long-Lived Assets	Goodwill, Intangible Assets and Long-Lived Assets Goodwill represents the excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities acquired in a business combination. Allocations of the purchase price are based upon a valuation of the fair value of assets acquired and liabilities assumed as of the acquisition date. Goodwill and indefinite-lived intangibles are not amortized but are assessed for impairment at least annually to ensure their current fair values exceed their carrying values. The Company’s most significant intangible assets are customer relationships, patents and developed technologies, trademarks and trade names. The fair values of intangible assets are based on valuations using an income approach, with estimates and assumptions provided by management of the acquired companies and the Company. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including estimating future cash flows and developing appropriate discount rates. All definite-lived intangible assets are amortized over the periods in which their economic benefits are expected to be realized. The Company reviews the useful life assumptions, including the classification of certain intangible assets as “indefinite-lived”, on a periodic basis to determine if changes in circumstances warrant revisions to them. Costs associated with patent and intellectual property applications, renewals or extensions are expensed as incurred. The Company evaluates its goodwill, intangible assets and other long-lived assets for impairment at the reporting unit level which is at least one level below our reportable segments.
Impairment Charges	Impairment Charges Impairment analyses of goodwill and indefinite-lived intangible assets are conducted in accordance with ASC 350, “Intangibles —Goodwill and Other.” During the second quarter of 2018, the Company adopted Accounting Standards Update (“ASU”) 2017-14, “Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which eliminates Step Two of the goodwill impairment test. The Company performs its goodwill impairment test annually as of the beginning of the second quarter or more frequently if indicators are present, or changes in circumstances suggest, that an impairment may exist. The Company has the option of first performing a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. In performing the qualitative assessment, the Company reviews factors both specific to the reporting unit and to the Company as a whole, such as financial performance, macroeconomic conditions, industry and market considerations, and the fair value of each reporting unit at the last valuation date. If the Company elects this option and believes, as a result of the qualitative assessment, that it is more likely than not that the carrying value of the reporting unit exceeds its fair value, the quantitative impairment test is required; otherwise, no further testing is required. Alternatively, the Company may elect to bypass the qualitative assessment and perform the quantitative impairment test. This approach requires a comparison of the carrying value of each of the Company’s reporting units to the estimated fair value of these reporting units. The fair value of a reporting unit is estimated primarily using a discounted cash flow (“DCF”) method with a weighted average cost of capital. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recorded for the difference. The Company assesses indefinite-lived intangible assets for impairment on an annual basis as of the beginning of the second quarter, and more frequently if indicators are present, or changes in circumstances suggest, that an impairment may exist. The Company will also reassess the continuing classification of these indefinite-lived intangible assets as indefinite-lived when circumstances change such that the useful life may no longer be considered indefinite. The fair values of the Company’s indefinite-lived intangible assets are determined using the relief from royalty method, based on forecasted revenues. If the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset. The carrying amounts of definite-lived long-lived assets are reviewed for impairment whenever changes in events or circumstances indicate that their carrying values may not be recoverable. The recoverability of the carrying value is generally determined by comparison of the asset group’s carrying value to its undiscounted future cash flows. When this test indicates a potential for impairment, a fair value assessment is performed. Once an impairment is determined and measured, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset.
Revenue Recognition	Revenue Recognition See Note 3 for the Company’s revenue recognition policy. The Company recognizes revenue when control of promised goods or services is transferred to customers. The transfer of control generally occurs upon shipment when title and risk of loss pass to the customer. The vast majority of the Company’s revenue is generated from the sale of distinct products. Revenue is measured as the amount of consideration the Company expects to receive in exchange for such products, which is generally at contractually stated prices. Sales taxes and value added taxes collected concurrently with revenue generating activities are excluded from revenue. Performance Obligations Substantially all of the Company’s revenue is recognized at a point in time, upon shipment, rather than over time. At the request of its customers, the Company may perform professional services, generally for the maintenance and repair of products previously sold to those customers and for engineering services. Professional services are typically short in duration, mostly less than one month, and aggregate to less than 3% of the Company’s consolidated revenue. Revenue is typically recognized at a point in time when control transfers to the customer upon completion of professional services. These services generally involve a single distinct performance obligation. The consideration expected to be received in exchange for such services is normally the contractually stated amount. The Company occasionally sells separately priced non-standard/extended warranty services or preventative maintenance plans with the sale of products. The transfer of control over the service plans is over time. The Company recognizes the related revenue ratably over the terms of the service plans. The transaction price of a contract is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are generally determined based on the prices charged to customers or using the expected cost plus a margin. Shipping & Handling Costs The Company accounts for shipping and handling activities that occur after the transfer of control over the related goods as fulfillment activities rather than performance obligations. The shipping and handling fees charged to customers are recognized as revenue and the related costs are recorded in cost of revenue at the time of transfer of control. Warranties The Company generally provides warranties for its products. The standard warranty period is typically 12 months to 24 months for the Photonics and Precision Motion segments and 12 months to 36 months for the Vision segment. The standard warranty period for product sales is accounted for under the provisions of ASC 450, “Contingencies,” as the Company has the ability to ascertain the likelihood of the liability and can reasonably estimate the amount of the liability. A provision for the estimated cost related to warranty is recorded to cost of revenue at the time revenue is recognized. The Company’s estimate of costs to service the warranty obligations is based on historical experience and expectations of future conditions. To the extent that the Company’s experience in warranty claims or costs associated with servicing those claims differ from the original estimates, revisions to the estimated warranty liability are recorded at that time, with an offsetting adjustment to cost of revenue. Practical Expedients and Exemptions The Company expenses incremental direct costs of obtaining a contract when incurred if the expected amortization period is one year or less. These costs are recorded within selling, general and administrative expenses in the consolidated statement of operations. The Company does not adjust the promised amount of consideration for the effects of a financing component because the transfer of a promised good to a customer and the customer’s payment for that good are typically one year or less. Contract Liabilities Contract liabilities consist of deferred revenue and advance payments from customers, including amounts that are refundable. These contract liabilities are classified as either current or long-term liabilities in the consolidated balance sheet based on the timing of when the Company expects to recognize the related revenue. As of December 31, 2018 and January 1, 2018 (the date of adoption of Topic 606), contract liabilities were $4.7 million and $5.4 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The decrease in the contract liability balance during the year ended December 31, 2018 is primarily due to $3.2 million of revenue recognized during the period that was included in the contract liability balance at the date of adoption, partially offset by cash payments received in advance of satisfying performance obligations. Disaggregated Revenue See Note 19 for the Company’s disaggregation of revenue by segment, geography and end market.
Research and Development and Engineering Costs	Research and Development and Engineering Costs Research and development and engineering (“R&D”) expenses are primarily comprised of employee related expenses and cost of materials for R&D projects. These costs are expensed as incurred.
Share-Based Compensation	Share-Based Compensation The Company records the expense associated with share-based compensation awards to employees and directors based on the fair value of awards as of the grant date. For share-based compensation awards that vest over time based on employment, the associated expenses are recognized in the consolidated statements of operations ratably over the vesting period, net of estimated forfeitures. The Company also grants two types of performance-based awards to certain members of the executive management team: non-GAAP earnings per share performance-based restricted stock units (“EPS-PSUs”) and relative total shareholder return performance-based restricted stock units (“TSR-PSUs”). Share-based compensation expense associated with EPS-PSUs is recognized ratably over the vesting period when it is probable that the performance targets are expected to be achieved based on management’s projections. Management’s projections are revised, if necessary, in subsequent periods when underlying factors change the evaluation of the probability of achieving the performance targets. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be required. Accordingly, share-based compensation expense associated with EPS-PSUs may differ significantly from period to period based on changes to the probability of achieving performance targets. Share-based compensation expense associated with TSR-PSUs is based on the fair value of the TSR-PSUs, determined using the Monte-Carlo valuation model, as of the grant date and is recognized on a straight-line basis from the grant date to the end of the performance period. Compensation expense will not be affected by the number of TSR-PSUs that will actually vest at the end of the performance period.
Advertising Costs	Advertising Costs Advertising costs are expensed to selling, general and administrative expenses as incurred and were not material for 2018, 2017 and 2016.
Restructuring, Acquisition and Divestiture Related Costs	Restructuring, Acquisition and Divestiture Related Costs The Company accounts for its restructuring activities in accordance with the provisions of ASC 420, “Exit or Disposal Cost Obligations.” The Company makes assumptions related to the amounts of employee severance benefits and related costs, time period over which facilities will remain vacant, useful lives and residual value of long-lived assets, sublease terms, sublease rental rates and discount rates. Estimates and assumptions are based on the best information available at the time the obligation is recognized. These estimates are reviewed and revised as facts and circumstances dictate. Acquisition related costs incurred to effect a business combination, including finders’ fees, legal, valuation and other professional or consulting fees, are expensed as incurred. Acquisition related costs also include expenses recognized under earn-out agreements in connection with acquisitions. Expenses associated with divestiture activities, including legal and professional fees directly related to the completion of a business divestiture, are expensed as incurred.
Accounting for Income Taxes	Accounting for Income Taxes The asset and liability method is used to account for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits, such as net operating loss carryforwards, to the extent that it is more likely than not that such benefits will be realized. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that some or all of the related tax benefits will not be realized in the future. Valuation allowances are reassessed periodically to determine whether it is more likely than not that the tax benefits will be realized in the future and that any valuation allowance should be released. The majority of the Company’s business activities are conducted through its subsidiaries outside of Canada. Earnings from these subsidiaries are generally indefinitely reinvested in the local businesses. Further, local laws and regulations may also restrict certain subsidiaries from paying dividends to their parents. As such, the Company generally does not accrue income taxes for the repatriation of such earnings in accordance with ASC 740, “Income Taxes.” To the extent that there are excess accumulated earnings that the Company intends to repatriate from any such subsidiaries, the Company recognizes deferred tax liabilities on such foreign earnings. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on the evaluation of the facts, circumstances, and information available at each reporting date. For those tax positions with a greater than 50 percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information, the Company records a tax benefit. For those income tax positions that are not likely to be sustained, no tax benefit is recognized in the consolidated financial statements. The Company recognizes interest and penalties related to uncertain tax positions as part of the provision for income taxes.
Foreign Currency Contracts	Foreign Currency Contracts The Company uses foreign currency contracts as a part of its strategy to limit its exposures related to foreign currency denominated monetary assets and liabilities. The time duration of these foreign currency contracts approximates the underlying foreign currency transaction exposures, generally less than three months. These contracts are not designated as cash flow, fair value or net investment hedges. Changes in the fair value of these foreign currency contracts are recognized in income before income taxes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In March 2018, the FASB issued ASU 2018-05, “Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118.” ASU 2018-05 allows SEC registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to the complexities involved in accounting for the income tax effects of the U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”). Companies have up to one year from the enactment of the Tax Reform Act (the “measurement period”) to obtain, prepare, and analyze the information that is needed in order to complete the accounting under ASC Topic 740. Any provisional amounts or adjustments to provisional amounts during the measurement period should be included in income from operations as an adjustment to tax provision (benefit) in the reporting period in which the amounts are determined. January 1, 2018. The Company adopted ASU 2018-05 during the first quarter of 2018. The adoption of ASU 2018-05 did not have a material impact on the Company’s consolidated financial statements. See Note 15. In February 2018, the FASB issued ASU 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” ASU 2018-02 allows an entity to reclassify the income tax effects of the Tax Reform Act on items within accumulated other comprehensive income to retained earnings. ASU 2018-02 shall be applied either in the period of adoption or retrospectively to each period (or periods) in which the effects of the change in the U.S. federal corporate income tax rate in the Tax Reform Act is recognized. January 1, 2019. Early adoption is permitted. The Company does not expect the adoption of ASU 2018-02 to have a material impact on its consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, “Compensation – Stock Compensation (Topic 718).” ASU 2017-09 requires that an entity account for the effects of a modification unless (i) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (ii) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; and (iii) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. January 1, 2018. The Company adopted ASU 2017-09 during the first quarter of 2018. The adoption of ASU 2017-09 did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” ASU 2017-07 requires employers that offer or maintain defined benefit plans to disaggregate the service component from the other components of net periodic benefit cost and provides guidance on the presentation of the service component and the other components of net periodic benefit cost in the statement of operations. ASU 2017-07 should be applied retrospectively for the presentation of net periodic benefit cost in the statement of operations. January 1, 2018. The Company retrospectively adopted ASU 2017-07 during the first quarter of 2018. The adoption of ASU 2017-07 resulted in the reclassification of $0.4 million of the Company’s net periodic benefit costs related to its frozen U.K. pension plan from Selling, general and administrative expenses into Other income (expense) in the consolidated statement of operations for both 2017 and 2016. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” ASU 2016-16 requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory in the period in which the transfer occurs. ASU 2016-16 shall be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. January 1, 2018. The Company adopted ASU 2016-16 during the first quarter of 2018 using the modified retrospective approach. The adoption resulted in the reclassification of $2.5 million of prepaid income taxes and income taxes receivable, of which $2.2 million was recorded to Accumulated deficit and $0.3 million was recognized as net deferred tax assets, for the year ended December 31, 2018. The Company will recognize incremental deferred income tax expense thereafter as these net deferred tax assets are utilized. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers – Deferral of the Effective Date.” ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition,” and requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgements, and changes in judgements and assets recognized from costs incurred to fulfill a contract. January 1, 2018. The Company adopted ASU 2014-09 during the first quarter of 2018 using the modified retrospective method. ASU 2014-09 has been applied to those contracts which had not been completed as of January 1, 2018 and all new contracts entered into by the Company subsequent to January 1, 2018. All prior period financial statements and disclosures are presented in accordance with Topic 605. The adoption of ASU 2014-09 did not have an impact on the Company’s Accumulated deficit. See Note 3. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step Two of the goodwill impairment test, which requires a hypothetical purchase price allocation. ASU 2017-04 should be applied on a prospective basis. January 1, 2020. Early adoption is permitted. The Company adopted ASU 2017-04 during the second quarter of 2018. The adoption of ASU 2017-04 had no impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” ASU 2017-12 amends and simplifies existing guidance in order to better align a company’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in the financial statements. ASU 2017-12 should be applied to hedging relationships existing on the date of adoption. The effect of the adoption should be reflected as of the beginning of the fiscal year of adoption. January 1, 2019. Early adoption is permitted. The Company does not expect the adoption of ASU 2017-12 to have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” In July 2018, the FASB issued ASU 2018-11, “Leases (Topic 842) – Targeted Improvements.” ASU 2016-02 requires a lessee to recognize on the balance sheet a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for both finance and operating leases and to disclose key information about leasing arrangements. ASU 2016-02 should be applied as of the beginning of the earliest period presented in the financial statements using a modified retrospective approach. ASU 2018-11 provides an additional (and optional) transition method which allows entities to apply ASU 2016-02 as of the adoption date and recognize a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. January 1, 2019. Early adoption is permitted. The Company will adopt the new standard in the first quarter of 2019, using the modified retrospective method. The Company expects this standard will have a material effect on its consolidated balance sheets with the recognition of new right-of-use assets and lease liabilities for all operating leases longer than one year in duration. Upon adoption, the Company estimates both assets and liabilities on the consolidated balance sheet will increase by approximately $32.0 million to $37.0 million. The Company does not expect the adoption to have a significant impact upon its consolidated statements of operations and cash flows. Changes in lease population or changes in incremental borrowing rates may alter this estimate. The Company will expand the consolidated financial statement disclosures upon adoption of this standard.
Shipping & Handling Costs	Shipping & Handling Costs The Company accounts for shipping and handling activities that occur after the transfer of control over the related goods as fulfillment activities rather than performance obligations. The shipping and handling fees charged to customers are recognized as revenue and the related costs are recorded in cost of revenue at the time of transfer of control.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Changes in Allowance for Doubtful Accounts	For the years ended December 31, 2018, 2017 and 2016, changes in the allowance for doubtful accounts were as follows (in thousands): 2018 2017 2016 Balance at beginning of year $ 554 $ 565 $ 500 Provision charged to selling, general and administrative expenses 66 283 135 Allowance resulting from acquisitions — 52 15 Write-offs, net of recoveries of amounts previously reserved (295 ) (358 ) (82 ) Exchange rate changes (4 ) 12 (3 ) Balance at end of year $ 321 $ 554 $ 565

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of Unaudited Pro Forma Financial Information	The unaudited pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisitions had taken place on January 1, 2016. Year Ended December 31, 2017 2016 Revenue $ 562,818 $ 487,960 Consolidated net income $ 39,630 $ 21,020 Earnings per share attributable to Novanta Inc. - Basic (1) $ 0.49 $ 0.62 Earnings per share attributable to Novanta Inc. - Diluted (1) $ 0.49 $ 0.61 (1) The computation of pro forma earnings per share attributable to Novanta Inc. included $20.2 million and zero adjustment of redeemable noncontrolling interest to estimated redemption value for the years ended December 31, 2017 and 2016, respectively.
Zettlex Holdings Limited
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price allocation is as follows (in thousands): Amount Cash $ 3,776 Accounts receivable 2,237 Inventories 928 Property, plant and equipment 2,590 Intangible assets 14,585 Goodwill 11,790 Other assets 145 Total assets acquired 36,051 Accounts payable 509 Accrued expenses and other liabilities 1,035 Deferred tax liabilities 2,481 Total liabilities assumed 4,025 Total assets acquired, net of liabilities assumed 32,026 Less: cash acquired 3,776 Total purchase price, net of cash acquired $ 28,250
Fair Value of Intangible Assets	The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 3,027 10 years Customer relationships 9,494 15 years Trademarks and trade names 550 10 years Backlog 1,514 1 year Total $ 14,585
World of Medicine GmbH
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price allocation is as follows (in thousands): Amount Cash $ 1,400 Accounts receivable 11,807 Inventories 14,549 Property, plant and equipment 21,940 Intangible assets 59,732 Goodwill 55,632 Other assets 2,660 Total assets acquired 167,720 Accounts payable 4,398 Other liabilities 8,681 Deferred tax liabilities 19,707 Total liabilities assumed 32,786 Total assets acquired, net of liabilities assumed 134,934 Less: cash acquired 1,400 Total purchase price, net of cash acquired $ 133,534
Fair Value of Intangible Assets	The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 21,586 10 years Customer relationships 35,634 12 years Trademarks and trade names 2,284 10 years Backlog 228 1 year Total $ 59,732
Laser Quantum
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price allocation is as follows (in thousands): Amount Cash $ 15,343 Accounts receivable 2,739 Inventories 6,264 Property, plant and equipment 2,286 Intangible assets 38,955 Goodwill 31,168 Other assets 717 Total fair value of assets 97,472 Accounts payable 796 Other liabilities 2,068 Deferred tax liabilities 7,337 Total fair value of liabilities 10,201 Total fair value of assets, net of fair value of liabilities 87,271 Less: fair value of equity interest previously held by Novanta 34,637 Less: fair value of noncontrolling interest 21,582 Total purchase price paid by Novanta 31,052 Less: cash acquired 15,343 Purchase price, net of cash acquired $ 15,709
Fair Value of Intangible Assets	The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 15,501 15 years Customer relationships 19,990 15 years Trademarks and trade names 1,964 15 years Backlog 1,500 9 months Total $ 38,955
ThingMagic
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price allocation is as follows (in thousands): Amount Inventories $ 1,832 Intangible assets 7,423 Goodwill 9,929 Total assets acquired 19,184 Other liabilities 95 Total liabilities assumed 95 Total purchase price $ 19,089
Fair Value of Intangible Assets	The fair value of intangible assets is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 4,600 10 years Customer relationships 2,520 10 years Trademarks and trade names 303 5 years Total $ 7,423

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Tables)	12 Months Ended
	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Summary of Changes in Noncontrolling Interest	The following table summarizes the changes in the Company’s redeemable noncontrolling interest in the twelve months ended December 31, 2018 (in thousands): Redeemable Noncontrolling Interest Balance as of December 31, 2017 $ 46,923 Net income attributable to noncontrolling interest 1,986 Redeemable noncontrolling interest redemption value adjustment (1,781 ) Foreign currency translation (1,926 ) Acquisition of noncontrolling interest (45,202 ) Balance as of December 31, 2018 $ —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss) is as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Income (Loss) Adjustments Adjustments Balance at December 31, 2015 $ (18,830 ) $ (9,698 ) $ (9,132 ) Other comprehensive loss (9,611 ) (7,524 ) (2,087 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 726 — 726 Balance at December 31, 2016 (27,715 ) (17,222 ) (10,493 ) Other comprehensive income (loss) 8,790 8,909 (119 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 1,045 — 1,045 Balance at December 31, 2017 (17,880 ) (8,313 ) (9,567 ) Other comprehensive loss (5,473 ) (4,172 ) (1,301 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) 826 — 826 Balance at December 31, 2018 $ (22,527 ) $ (12,485 ) $ (10,042 ) (1) The amounts reclassified from accumulated other comprehensive income (loss) were included in other income (expense) in the consolidated statements of operations.

Goodwill, Intangible Assets a_2

Goodwill, Intangible Assets and Impairment Charges (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Goodwill	The following table summarizes changes in goodwill during the year ended December 31, 2018 (in thousands): December 31, 2018 Balance at beginning of year $ 210,988 Goodwill acquired from acquisitions 12,011 Effect of foreign exchange rate changes (5,337 ) Balance at end of year $ 217,662
Goodwill by Reportable Segment	Goodwill by reportable segment as of December 31, 2018 is as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 168,955 $ 155,017 $ 44,919 $ 368,891 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 66,494 $ 123,295 $ 27,873 $ 217,662 Goodwill by reportable segment as of December 31, 2017 is as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 170,818 $ 157,436 $ 33,963 $ 362,217 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 68,357 $ 125,714 $ 16,917 $ 210,988
Intangible Assets	Intangible assets as of December 31, 2018 and 2017, respectively, are summarized as follows (dollar amounts in thousands): December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 134,034 $ (86,623 ) $ 47,411 9.0 Customer relationships 139,097 (64,174 ) 74,923 11.7 Customer backlog 1,738 (1,191 ) 547 0.4 Non-compete covenant 2,514 (2,493 ) 21 0.1 Trademarks and trade names 15,915 (8,924 ) 6,991 9.1 Amortizable intangible assets 293,298 (163,405 ) 129,893 10.5 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 306,325 $ (163,405 ) $ 142,920 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 130,890 $ (77,295 ) $ 53,595 10.2 Customer relationships 131,809 (52,015 ) 79,794 12.3 Customer backlog 2,524 (2,284 ) 240 0.8 Non-compete covenant 2,514 (1,956 ) 558 0.9 Trademarks and trade names 15,708 (7,874 ) 7,834 9.7 Amortizable intangible assets 283,445 (141,424 ) 142,021 11.3 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 296,472 $ (141,424 ) $ 155,048
Amortization Expense of Intangible Assets	Amortization expense is as follows (in thousands): Year Ended December 31, 2018 2017 2016 Amortization expense – cost of revenue $ 10,060 $ 8,824 $ 4,164 Amortization expense – operating expenses 15,550 12,096 8,251 Total amortization expense $ 25,610 $ 20,920 $ 12,415
Estimated Future Amortization Expense	Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands): Year Ending December 31, Cost of Revenue Operating Expenses Total 2019 $ 9,222 $ 14,733 $ 23,955 2020 8,321 12,395 20,716 2021 7,406 11,489 18,895 2022 6,308 9,666 15,974 2023 5,409 8,153 13,562 Thereafter 10,745 26,046 36,791 Total $ 47,411 $ 82,482 $ 129,893

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 4,288 $ 4,288 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 15 — 15 — $ 4,303 $ 4,288 $ 15 $ — Liabilities Accrued expenses and other current liabilities: Foreign currency forward contracts $ 182 $ — $ 182 $ — Other liabilities: Contingent consideration - Long-term 3,376 — — 3,376 $ 3,558 $ — $ 182 $ 3,376 The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 2,665 $ 2,665 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 150 — 150 — $ 2,815 $ 2,665 $ 150 $ — Liabilities Accrued expenses and other current liabilities: Contingent consideration - Current $ 2,800 $ — $ — $ 2,800 Foreign currency forward contracts (1) — — — — Other liabilities: Contingent consideration - Long-term 1,304 — — 1,304 $ 4,104 $ — $ — $ 4,104
Changes in Fair Value of Level 3 Contingent Consideration	Changes in the fair value of Level 3 contingent consideration for the year ended December 31, 2018 were as follows (in thousands): Contingent Consideration Balance at December 31, 2017 $ 4,104 Payments (2,800 ) Fair value adjustments 2,072 Balance at December 31, 2018 $ 3,376

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Year Ended December 31, 2018 2017 2016 Numerators: Consolidated net income $ 51,095 $ 62,307 $ 22,003 Less: Net income attributable to noncontrolling interest (1,986 ) (2,256 ) — Net income attributable to Novanta Inc. 49,109 60,051 22,003 Redeemable noncontrolling interest redemption value adjustment (see Note 5) 1,781 (20,244 ) — Net income attributable to Novanta Inc. after adjustment for redeemable noncontrolling interest redemption value $ 50,890 $ 39,807 $ 22,003 Denominators: Weighted average common shares outstanding— basic 34,913 34,817 34,694 Dilutive potential common shares 560 463 220 Weighted average common shares outstanding— diluted 35,473 35,280 34,914 Antidilutive common shares excluded from above 4 — 85 Earnings per Common Share Attributable to Novanta Inc.: Basic $ 1.46 $ 1.14 $ 0.63 Diluted $ 1.43 $ 1.13 $ 0.63

Supplementary Balance Sheet I_2

Supplementary Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Inventories	Inventories December 31, 2018 2017 Raw materials $ 69,008 $ 57,277 Work-in-process 15,982 14,847 Finished goods 17,337 16,443 Demo and consigned inventory 2,437 2,711 Total inventories $ 104,764 $ 91,278
Property, Plant and Equipment, net	Property, Plant and Equipment, Net December 31, 2018 2017 Cost: Land, buildings and improvements $ 56,068 $ 53,055 Machinery and equipment 77,918 74,122 Total cost 133,986 127,177 Accumulated depreciation (68,522 ) (65,459 ) Property, plant and equipment, net $ 65,464 $ 61,718
Summary of Depreciation Expense on Property, Plant and Equipment, Including Demo Units and Assets under Capital Leases	The following table summarizes depreciation expense on property, plant and equipment, including demo units and assets under capital leases (in thousands): Year Ended December 31, 2018 2017 2016 Depreciation expense $ 11,442 $ 9,838 $ 8,558
Summary of Total Accumulated Depreciation on Assets under Capital Leases	The following table summarizes total accumulated depreciation on assets under capital leases as of the dates indicated (in thousands): December 31, 2018 2017 Accumulated depreciation on assets under capital leases $ 6,901 $ 6,097
Accrued Expenses and Other Current Liabilities	The following table summarizes accrued expenses and other current liabilities as of the dates indicated (in thousands): December 31, 2018 2017 Accrued compensation and benefits $ 24,545 $ 17,348 Accrued warranty 4,510 4,835 Contract liabilities, current portion 4,165 4,790 Other 13,075 16,341 Total $ 46,295 $ 43,314
Accrued Warranty	The following table summarizes changes in accrued warranty for the periods indicated (in thousands): Year Ended December 31, 2018 2017 2016 Balance at beginning of year $ 4,835 $ 3,142 $ 3,335 Provision charged to cost of revenue 3,111 3,169 1,673 Warranty liabilities acquired from acquisitions — 1,307 23 Use of provision (3,341 ) (2,857 ) (1,849 ) Foreign currency exchange rate changes (95 ) 74 (40 ) Balance at end of year $ 4,510 $ 4,835 $ 3,142

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt consisted of the following (in thousands): December 31, 2018 2017 Senior Credit Facilities – term loan $ 4,600 $ 9,200 Less: unamortized debt issuance costs (65 ) (81 ) Total current portion of long-term debt 4,535 9,119 Senior Credit Facilities – term loan 69,925 79,125 Senior Credit Facilities – revolving credit facility 135,058 149,453 Less: unamortized debt issuance costs (2,140 ) (3,078 ) Total long-term debt 202,843 225,500 Total Senior Credit Facilities $ 207,378 $ 234,619
Repayments of Outstanding Principal under Term Loan Facility	On August 1, 2017, the Company entered into an amendment (the “Third Amendment”) to the Second Amended and Restated Credit Agreement. The Third Amendment increased the borrowing limit under the revolving credit facility from $225 million to $325 million and reset the uncommitted accordion feature to $125 million for potential future expansion. Additionally, the Third Amendment increased the term loan balance from $65.6 million to $90.6 million. Under the Third Amendment, the Company is required to pay quarterly scheduled principal repayments of $2.3 million beginning in October 2017, with the final installment of $56.1 million due upon maturity in May 2021. Borrowings under the revolving credit facility may be repaid at any time through May 2021, the date of maturity of the Senior Credit Facilities. The Company may voluntarily prepay loans or reduce commitments under the Senior Credit Facilities, in whole or in part, without premium or penalty, subject to certain minimum principal amounts. On February 26, 2018, the Company entered into a fourth amendment (the “Fourth Amendment”) to the Second Amended and Restated Credit Agreement. The Fourth Amendment increased the maximum permitted consolidated leverage ratio from 3.00 to 3.50, increased the maximum consolidated leverage ratio for permitted acquisitions and stock repurchases from 2.50 to 3.00, increased the maximum permitted consolidated leverage ratio for a designated acquisition from 3.00 to 3.50, and increased the maximum permitted leverage ratio for four consecutive quarters following a designated acquisition from 3.50 to 4.00. The Fourth Amendment also made certain other technical changes to the Second Amended and Restated Credit Agreement. As of December 31, 2018, the outstanding principal under the Company’s term loan facility is scheduled to be repaid as follows (in thousands): Principal Amount 2019 $ 4,600 2020 9,200 2021 60,725 Total debt repayments $ 74,525

Capital Stock and Share-Based_2

Capital Stock and Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-Based Compensation Expense Recorded In Operating Income	The table below summarizes share-based compensation expense recorded in operating income (in thousands): Year Ended December 31, 2018 2017 2016 Selling, general and administrative $ 6,997 $ 5,065 $ 3,920 Research and development and engineering 438 221 117 Cost of revenue 211 207 256 Restructuring, acquisition and divestiture related costs 68 — — Total share-based compensation expense $ 7,714 $ 5,493 $ 4,293
Fair Value of TSR Performance-Based Restricted Stock Units Estimated Using Monte-Carol Valuation Model	The fair value of the TSR-PSUs at the date of grant was estimated using the Monte-Carlo valuation model with the following assumptions: Year Ended December 31, 2018 Grant-date stock price $ 53.85 Expected volatility 30.35 % Risk-free interest rate 2.37 % Expected annual dividend yield — Weighted average fair value $ 70.49
2010 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Issued and Outstanding	The table below summarizes activities relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan during 2018: Restricted and Deferred Stock Units (In thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Vesting Period (in years) Aggregate Intrinsic Value (1) (In thousands) Unvested at December 31, 2017 614 $ 18.35 Granted 130 $ 55.27 Vested (188 ) $ 18.77 Forfeited (27 ) $ 24.53 Unvested at December 31, 2018 529 $ 26.98 1.59 years $ 33,308 Expected to vest as of December 31, 2018 509 $ 26.31 1.59 years $ 32,041 (1) The aggregate intrinsic value is calculated based on the fair value of $63.00 per share of the Company’s common stock on December 31, 2018 due to the fact that the restricted stock units carry a $0 purchase price.
Performance Stock Units Issued and Outstanding	The number of common shares to be issued upon settlement following vesting of the TSR-PSUs is determined based on the relative market performance of the Company’s common stock compared to the Russell 2000 Index over the three-year performance period using a payout formula established by the Company’s Board of Directors at the time of grant and will be in the range of zero to 200% of the target number of shares. The Company recognizes the related compensation expense based on the fair value of the TSR-PSUs, determined using Monte-Carlo valuation model as of the grant date, on a straight-line basis from the grant date to the end of the three-year performance period. Compensation expense will not be affected by the number of TSR-PSUs that will actually vest at the end of the three-year performance period. The table below summarizes activities relating to performance-based stock awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during 2018: Performance Stock Units (1) (in thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Vesting Period (in years) Aggregate Intrinsic Value (2) (in thousands) Unvested at December 31, 2017 89 $ 24.00 Granted 48 $ 62.17 Vested — $ — Forfeited — $ — Unvested at December 31, 2018 137 $ 37.28 1.14 years $ 8,645 Expected to vest as of December 31, 2018 167 $ 33.21 1.14 years $ 10,491 (1) The unvested PSUs are shown in this table at target, except for the number of shares vested, which reflect the shares earned and number of shares expected to vest. As of December 31, 2018, the maximum number of PSUs available to be earned is approximately 274 thousand. (2) The aggregate intrinsic value is calculated based on the fair value of $63.00 per share of the Company’s common stock on December 31, 2018 due to the fact that the performance stock units carry a $0 purchase price.
Stock Options Outstanding, Exercisable and Expected to Vest	The following table shows stock options that were outstanding, exercisable and expected to vest as of December 31, 2018 and the related weighted average exercise price, weighted average remaining contractual term and aggregate intrinsic value Number of Shares (In thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (1) (In thousands) Stock options outstanding 103 $ 14.13 7.25 $ 5,027 Stock options exercisable 69 $ 14.13 7.25 $ 3,351 Stock options expected to vest 34 $ 14.13 7.25 $ 1,676 (1) The aggregate intrinsic value is calculated as the difference between the closing market price of $63.00 per share of the Company’s common stock on December 31, 2018 and the exercise price of the stock options.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Net Periodic Pension Cost	The net periodic pension cost consisted of the following components (in thousands): Year Ended December 31, 2018 2017 2016 Components of the net periodic pension cost: Interest cost $ 939 $ 991 $ 1,232 Expected return on plan assets (1,717 ) (1,665 ) (1,566 ) Amortization of actuarial losses 826 1,045 726 Net periodic pension cost $ 48 $ 371 $ 392
Actuarial Assumptions used to Compute net Periodic Pension Cost and Funded Status	The actuarial assumptions used to compute the net periodic pension cost for the years ended December 31, 2018, 2017 and 2016, respectively, were as follows: Year Ended December 31, 2018 2017 2016 Weighted-average discount rate 2.4 % 2.6 % 3.8 % Weighted-average long-term rate of return on plan assets 4.8 % 5.2 % 5.3 % The actuarial assumptions used to compute the benefit obligations as of December 31, 2018 and 2017, respectively, were as follows: December 31, 2018 2017 Weighted-average discount rate 2.7 % 2.4 % Rate of inflation 2.8 % 2.9 %
Reconciliation of Benefit Obligations and Plan Assets of U.K. Plan	The following table provides a reconciliation of benefit obligations and plan assets of the U.K. Plan (in thousands): December 31, 2018 2017 Change in benefit obligation: Projected benefit obligation at beginning of year $ 40,329 $ 37,261 Interest cost 939 991 Actuarial (gains) losses (1,718 ) (27 ) Benefits paid (1,301 ) (1,313 ) Prior service cost (1) 754 — Foreign currency exchange rate changes (2,121 ) 3,417 Projected benefit obligation at end of year $ 36,882 $ 40,329 Accumulated benefit obligation at end of year $ 36,882 $ 40,329 Change in plan assets: Fair value of plan assets at beginning of year $ 36,476 $ 31,304 Actual return on plan assets (1,083 ) 2,605 Employer contributions 941 887 Benefits paid (1,301 ) (1,313 ) Foreign currency exchange rate changes (1,909 ) 2,993 Fair value of plan assets at end of year $ 33,124 $ 36,476 Funded status at end of year $ (3,758 ) $ (3,853 ) Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost: Net actuarial losses at beginning of year $ (10,493 ) $ (11,697 ) Net actuarial gains (losses) during the year (1,082 ) 967 Prior service cost arising during the year (1) (754 ) — Amounts reclassified from accumulated other comprehensive income to income before income taxes 826 1,045 Foreign currency exchange rate changes 383 (808 ) Net actuarial loss $ (11,120 ) $ (10,493 ) Amounts expected to be amortized from accumulated other comprehensive loss into net periodic pension cost over the next fiscal year consists of: Net actuarial loss $ 959 $ 957 Prior service cost 29 — (1) On October 26, 2018, the High Court of Justice in the U.K. ruled that the Guaranteed Minimum Pensions (“GMPs”) provided by pension schemes need to equalize lifetime GMP benefits between genders. In order to meet the requirements set out by the High Court, the Company recorded an estimate of $0.8 million additional benefit obligations based on the existing plan participants, the date the U.K. Plan was allowed to stop accruing additional benefits, the pension plan rules and the approach taken to equalize the benefits. The additional benefit obligation will be amortized and recognized as part of net periodic pension cost in the consolidated statement of operations over the average remaining life expectancy of the plan participants. The funded status of the U.K. Plan is included in other long term liabilities in the accompanying consolidated balance sheets.
Expected Future Benefit Payments	The following table reflects the total expected benefit payments to plan participants and have been estimated based on the same assumptions used to measure the Company’s benefit obligations as of December 31, 2018 (in thousands): Amount 2019 $ 859 2020 1,133 2021 1,197 2022 1,038 2023 1,137 2024-2026 8,370 Total $ 13,734
Summary of Fair Value of Plan Assets by Asset Category	The following table summarizes the fair values of Plan assets by asset category as of December 31, 2018 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Not Subject to Leveling Mutual Funds: Balanced (1) $ 24,564 $ — $ — $ — $ 24,564 Fixed income (2) 8,451 — — — 8,451 Cash 109 109 — — — Total $ 33,124 $ 109 $ — $ — $ 33,015 (1) This class comprises a diversified portfolio of global investments which seeks a balanced return between capital growth and fixed income and is allocated on a weighted average basis as follows: equities (42%), bonds (19%), other assets (38%) and cash (1%). (2) This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds (86%) and cash (14%). The following table summarizes the fair values of Plan assets by asset category as of December 31, 2017 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Not Subject to Leveling Mutual Funds: Balanced (1) $ 26,816 $ — $ — $ — $ 26,816 Fixed income (2) 9,524 — — — 9,524 Cash 136 136 — — — Total $ 36,476 $ 136 $ — $ — $ 36,340 (1) This class comprises a diversified portfolio of global investments which seeks a balanced return between capital growth and fixed income and is allocated on a weighted average basis as follows: equities (38%), bonds (27%), other assets (31%) and cash (4%). (2) This class comprises a diversified portfolio of global investments which seeks long-term capital growth and is allocated on a weighted average basis as follows: bonds (92%) and cash (8%).

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Components of Income (Loss) Before Income Tax	Components of the Company’s income (loss) before income taxes are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Income (loss) before income taxes: Canada $ (796 ) $ (2,036 ) $ (1,872 ) U.S. 39,356 37,327 20,422 Other 22,742 40,843 13,972 Total $ 61,302 $ 76,134 $ 32,522
Components of Income Tax Provision (Benefit)	Components of the Company’s income tax provision (benefit) are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Current Canada $ 75 $ 146 $ 43 U.S. 8,095 9,434 9,678 Other 8,113 6,807 2,564 16,283 16,387 12,285 Deferred Canada — — — U.S. (2,272 ) 2,396 (2,378 ) Other (3,804 ) (4,956 ) 612 (6,076 ) (2,560 ) (1,766 ) Total $ 10,207 $ 13,827 $ 10,519
Reconciliation of Statutory Canadian Tax rate to Effective Tax Rate	The reconciliation of the statutory Canadian tax rate to the effective tax rate related to income before income taxes is as follows (in thousands, except percentage data): Year Ended December 31, 2018 2017 2016 Statutory Canadian tax rate 29.00 % 29.00 % 28.50 % Expected income tax provision at Canadian statutory tax rate $ 17,778 $ 22,079 $ 9,269 International tax rate differences (4,474 ) (2,038 ) 891 U.S. state income taxes, net 831 674 503 Withholding and other taxes 550 484 441 Permanent differences and other 1,015 1,582 84 Section 199 deduction — (1,148 ) (1,063 ) Foreign-derived intangible income (1,628 ) — — Tax credits (1,250 ) (984 ) (1,095 ) Statutory tax rate changes (285 ) 2,823 (856 ) Uncertain tax positions 190 (1,607 ) (103 ) Change in valuation allowance (262 ) (354 ) 1,202 Acquisition contingent consideration adjustments 833 149 762 Transaction costs 172 1,011 649 Provision to return differences (385 ) 225 (93 ) Benefit from share-based compensation (931 ) (837 ) (72 ) Gain on Laser Quantum acquisition — (6,586 ) — UK patent box (1,947 ) (1,646 ) — Reported income tax provision $ 10,207 $ 13,827 $ 10,519 Effective tax rate 16.7 % 18.2 % 32.3 %
Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows (in thousands): December 31, 2018 2017 Deferred tax assets: Losses $ 9,385 $ 9,407 Compensation related deductions 4,780 3,687 Inventories 4,170 3,400 Tax credits 2,785 2,594 Unrealized currency gains/losses — 183 Restructuring related liabilities 202 172 Warranty 35 768 Other 885 — Total deferred tax assets 22,242 20,211 Valuation allowance on deferred tax assets (12,884 ) (12,811 ) Net deferred tax assets $ 9,358 $ 7,400 Deferred tax liabilities: Depreciation $ (1,867 ) $ (1,353 ) Amortization (20,258 ) (23,496 ) Unrealized currency gains/losses (373 ) — Other — (1,171 ) Total deferred tax liabilities $ (22,498 ) $ (26,020 ) Net deferred income tax assets (liabilities) $ (13,140 ) $ (18,620 )
Reconciliation of Total Amounts of Unrecognized Tax Benefits	The reconciliation of the total amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2015 $ 5,490 Additions based on tax positions related to the current year 561 Additions for tax positions of prior years 88 Reductions to tax positions of prior years (45 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (842 ) Settlements with tax authorities (290 ) Balance at December 31, 2016 4,962 Additions based on tax positions related to the current year 991 Additions for tax positions of prior years 496 Reductions to tax positions of prior years (28 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (1,577 ) Settlements with tax authorities (755 ) Balance at December 31, 2017 4,089 Additions based on tax positions related to the current year 394 Additions for tax positions of prior years 655 Reductions to tax positions of prior years (69 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (239 ) Settlements with tax authorities (105 ) Balance at December 31, 2018 $ 4,725
Income Tax Returns to be Reviewed	The Company’s income tax returns may be reviewed by tax authorities in the following countries for the following periods under the appropriate statute of limitations: United States 2015 - Present Canada 2015 - Present United Kingdom 2017 - Present Germany 2014 - Present The Netherlands 2012 - Present China 2009 - Present Japan 2013 - Present

Restructuring, Acquisition an_2

Restructuring, Acquisition and Divestiture Related Costs (Tables)	12 Months Ended
	Dec. 31, 2018
Restructuring And Related Activities [Abstract]
Schedule of Restructuring, Acquisition and Divestiture Related Costs	The following table summarizes restructuring, acquisition and divestiture related costs recorded in the accompanying consolidated statements of operations (in thousands): Year Ended December 31, 2018 2017 2016 2019 restructuring $ 378 $ — $ — 2018 restructuring 1,647 — — 2016 restructuring — 332 3,049 2011 restructuring — 14 (79 ) Total restructuring and divestiture related charges $ 2,025 $ 346 $ 2,970 Acquisition and related charges 6,016 7,196 4,975 Total restructuring, acquisition and divestiture related costs $ 8,041 $ 7,542 $ 7,945
Summary of Restructuring Costs for Each Segment and Unallocated Corporate Costs	The following table summarizes restructuring costs incurred to date and the Company’s expected cumulative costs associated with the 2018 restructuring program (in thousands): Year Ended Expected Cumulative Costs December 31, 2018 December 31, 2018 Photonics $ — $ — Vision 1,579 $2,300 - $2,600 Precision Motion — — Unallocated Corporate and Shared Services 68 $100 Total $ 1,647 $ $2,400 - $2,700 The following table summarizes restructuring costs associated with the 2016 restructuring program for each segment and unallocated corporate costs (in thousands): Year Ended Cumulative Costs as of December 31, 2017 December 31, 2016 December 31, 2017 Photonics $ — $ 813 $ 868 Vision 331 1,862 4,393 Precision Motion — 106 939 Unallocated Corporate and Shared Services 1 268 329 Total $ 332 $ 3,049 $ 6,529 The following table summarizes restructuring costs for each segment and unallocated corporate costs related to the 2011 restructuring plan (in thousands): Cumulative Year Ended December 31, Costs as of 2017 2016 December 31, 2017 Photonics $ — $ (188 ) $ 1,751 Vision — — 48 Precision Motion — — 122 Unallocated Corporate and Shared Services 14 109 3,276 Total $ 14 $ (79 ) $ 5,197
Summary of Accrual Activities by Components Related to Company's Restructuring Charges	The following table summarizes the accrual activities, by component, related to the Company’s restructuring charges recorded in the accompanying consolidated balance sheets (in thousands): Total Severance Facility Other (a) Balance at December 31, 2016 $ 1,736 $ 611 $ 1,111 $ 14 Restructuring charges 346 185 146 15 Cash payments (1,212 ) (692 ) (503 ) (17 ) Non-cash write-offs and other adjustments (64 ) (65 ) 9 (8 ) Balance at December 31, 2017 806 39 763 4 Restructuring charges 2,025 1,862 — 163 Cash payments (1,490 ) (962 ) (373 ) (155 ) Non-cash write-offs and other adjustments (65 ) (63 ) (2 ) — Balance at December 31, 2018 $ 1,276 $ 876 $ 388 $ 12 (a) Other restructuring charges mainly related to consulting fees and relocation costs.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Schedule of Gross Assets under Capital Lease	Gross assets under capital lease as of December 31, 2018 and 2017, respectively, are summarized as follows (in thousands): 2018 2017 Land, buildings and improvements $ 9,133 $ 9,133 Machinery and equipment 4,404 4,429 Total gross assets under capital lease $ 13,537 $ 13,562
Future Minimum Lease Payments Under Operating and Capital Leases	Future Lease PaymentsFuture minimum lease payments under operating and capital leases expiring subsequent to December 31, 2018, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands): Year Ended December 31, Operating Lease Capital Lease (1) 2019 $ 7,797 $ 990 2020 6,263 980 2021 5,757 907 2022 5,264 907 2023 4,719 930 Thereafter 26,149 5,394 Total minimum lease payments $ 55,949 $ 10,108 (1) Capital lease payments include interest payments of $2.3 million.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Revenue, Gross Profit, Operating Income (Loss), Depreciation and Amortization Expenses, Accounts Receivable and Inventory by Reportable Segments	Revenue, gross profit, operating income (loss), depreciation and amortization expenses, accounts receivable and inventories by reportable segments are as follows (in thousands): Year Ended December 31, 2018 2017 2016 Revenue Photonics $ 249,339 $ 232,359 $ 174,158 Vision 232,902 183,074 122,250 Precision Motion 132,096 105,857 88,350 Total $ 614,337 $ 521,290 $ 384,758 Year Ended December 31, 2018 2017 2016 Gross Profit Photonics $ 117,109 $ 106,117 $ 76,696 Vision 87,198 69,249 47,181 Precision Motion 59,477 46,564 40,044 Unallocated Corporate and Shared Services (2,256 ) (1,399 ) (1,469 ) Total $ 261,528 $ 220,531 $ 162,452 Year Ended December 31, 2018 2017 2016 Operating Income (Loss) Photonics $ 59,285 $ 51,660 $ 35,217 Vision 8,991 7,883 (1,277 ) Precision Motion 31,674 27,146 21,101 Unallocated Corporate and Shared Services (28,937 ) (29,123 ) (22,086 ) Total $ 71,013 $ 57,566 $ 32,955 Year Ended December 31, 2018 2017 2016 Depreciation and Amortization Expenses Photonics $ 12,042 $ 13,806 $ 6,738 Vision 20,657 13,590 10,402 Precision Motion 3,627 2,308 2,439 Unallocated Corporate and Shared Services 726 1,054 1,394 Total $ 37,052 $ 30,758 $ 20,973 December 31, 2018 2017 Accounts Receivable Photonics $ 31,536 $ 33,490 Vision 34,414 36,089 Precision Motion 18,005 11,903 Total accounts receivable $ 83,955 $ 81,482 Inventories Photonics 41,623 44,451 Vision 42,498 33,836 Precision Motion 20,643 12,991 Total inventories $ 104,764 $ 91,278 Total segment assets $ 188,719 $ 172,760 December 31, 2018 2017 Total Assets Total segment assets $ 188,719 $ 172,760 Cash and cash equivalents 82,043 100,057 Prepaid income taxes and income taxes receivable 1,852 4,387 Prepaid expenses and other current assets 9,155 10,675 Property, plant and equipment, net 65,464 61,718 Deferred tax assets 9,492 7,052 Other assets 2,269 4,018 Intangible assets, net 142,920 155,048 Goodwill 217,662 210,988 Total $ 719,576 $ 726,703
Schedule of Geographic Revenue	The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is as follows (in thousands, except percentage data): Year Ended December 31, 2018 2017 2016 Revenue % of Total Revenue % of Total Revenue % of Total United States $ 242,243 39.4 % $ 220,583 42.3 % $ 154,756 40.2 % Germany 88,027 14.3 68,003 13.0 55,940 14.5 Rest of Europe 105,608 17.2 81,001 15.5 51,705 13.4 China 66,414 10.8 56,128 10.8 44,225 11.5 Rest of Asia-Pacific 104,300 17.0 84,727 16.3 60,104 15.6 Other 7,745 1.3 10,848 2.1 18,028 4.8 Total $ 614,337 100.0 % $ 521,290 100.0 % $ 384,758 100.0 %
Summary of Long-lived Assets	Long-lived assets consist of property, plant and equipment, net, and are aggregated based on the location of the assets. A summary of these long-lived assets is as follows (in thousands): December 31, 2018 2017 United States $ 32,029 $ 29,920 Europe 31,696 30,621 China 1,636 1,127 Rest of Asia-Pacific 103 50 Total $ 65,464 $ 61,718
Revenue By End Market	The Company primarily operates in two end markets: the advanced industrial market and the medical market. Revenue by end market was approximately as follows: Year Ended December 31, 2018 2017 2016 Advanced Industrial 50 % 50 % 60 % Medical 50 % 50 % 40 % Total 100 % 100 % 100 %

Organization and Presentation -

Organization and Presentation - Additional Information (Details) - USD ($) $ in Thousands	Sep. 27, 2018	Jan. 10, 2017	Jan. 09, 2017	Dec. 31, 2017	Dec. 31, 2016
Organization And Business Activities [Line Items]
Earnings from equity investment				$ 104	$ 2,191
Laser Quantum
Organization And Business Activities [Line Items]
Equity method investment ownership percentage on Laser Quantum		76.00%	41.00%
Earnings from equity investment				$ 100	$ 2,200
Percentage of outstanding shares acquired	24.00%	35.00%
Consideration transferred in cash and restricted stock for percentage of shares acquired	$ 45,100

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Significant Accounting Policies [Line Items]
Reclassification of net periodic benefit costs	$ 48	$ 371	$ 392
Accumulated deficit	79,092	127,740
Deferred tax assets, net	9,358	7,400
ASU 2017-07
Significant Accounting Policies [Line Items]
Reclassification of net periodic benefit costs		$ 400	$ 400
ASU 2016-16
Significant Accounting Policies [Line Items]
Reclassification of prepaid income taxes and income taxes receivable	2,500
Accumulated deficit	2,200
Deferred tax assets, net	$ 300
Maximum
Significant Accounting Policies [Line Items]
Cash equivalents original maturity period	3 months
Maximum | ASU 2016-02
Significant Accounting Policies [Line Items]
Increase in assets and liabilities due to adoption of new accounting standard	$ 37,000
Maximum | Buildings and improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	30 years
Maximum | Machinery and Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Minimum | ASU 2016-02
Significant Accounting Policies [Line Items]
Increase in assets and liabilities due to adoption of new accounting standard	$ 32,000
Minimum | Buildings and improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Minimum | Machinery and Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	3 years

Changes in Allowance for Doubtf

Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance For Doubtful Accounts Receivable Rollforward
Balance at beginning of year	$ 554	$ 565	$ 500
Provision charged to selling, general and administrative expenses	66	283	135
Allowance resulting from acquisitions		52	15
Write-offs, net of recoveries of amounts previously reserved	(295)	(358)	(82)
Exchange rate changes	(4)	12	(3)
Balance at end of year	$ 321	$ 554	$ 565

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Jan. 01, 2018
Adoption of Topic 606
Revenue [Line Items]
Contract liabilities	$ 4.7	$ 5.4
Revenue recognized	$ 3.2
Warranties
Revenue [Line Items]
Standard product warranty description	The Company generally provides warranties for its products. The standard warranty period is typically 12 months to 24 months for the Photonics and Precision Motion segments and 12 months to 36 months for the Vision segment. The standard warranty period for product sales is accounted for under the provisions of ASC 450, “Contingencies,” as the Company has the ability to ascertain the likelihood of the liability and can reasonably estimate the amount of the liability.
Maximum
Revenue [Line Items]
Percentage of revenue for professional services	3.00%
Period when revenue for professional and engineering services requested under customer contract is recognized	1 month
Incremental Cost amortization expected period	1 year
Transfer of a promised good to a customer and the customer’s payment	1 year
Maximum | Photonics and Precision Motion | Warranties
Revenue [Line Items]
Standard warranty period on products	24 months
Maximum | Vision | Warranties
Revenue [Line Items]
Standard warranty period on products	36 months
Minimum | Photonics and Precision Motion | Warranties
Revenue [Line Items]
Standard warranty period on products	12 months
Minimum | Vision | Warranties
Revenue [Line Items]
Standard warranty period on products	12 months

Revenue - Additional Informat_2

Revenue - Additional Information (Details1)	Dec. 31, 2018
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-01-01
Revenue [Line Items]
Remaining performance obligation for contracts	1 year

Business Combinations - Additio

Business Combinations - Additional Information (Details) € in Millions, £ in Millions	May 01, 2018USD ($)	Jul. 03, 2017USD ($)	Jul. 03, 2017EUR (€)	Jan. 10, 2017USD ($)	Jan. 10, 2017GBP (£)	May 24, 2016USD ($)	Dec. 31, 2018USD ($)Business	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 27, 2018	May 01, 2018GBP (£)	Jul. 03, 2017EUR (€)
Business Acquisition [Line Items]
Number of businesses acquired | Business							2
Total cash consideration							$ 33,500,000
Goodwill							217,662,000	$ 210,988,000
Amortization of intangible assets including cost of goods sold amortization							25,610,000	20,920,000	$ 12,415,000
Gain on business acquisition								26,409,000
Acquisition and related charges							6,016,000	7,196,000	4,975,000
Income from equity method investments								104,000	$ 2,191,000
Zettlex Holdings Limited
Business Acquisition [Line Items]
Percentage of shares acquired	100.00%										100.00%
Purchase price	$ 32,026,000										£ 23.3
Intangible assets	14,585,000
Goodwill	11,790,000
Goodwill assets expected to be deductible for tax purposes	0
Revenues							8,300,000
Income (loss) before income taxes							(1,800,000)
Amortization of intangible assets including cost of goods sold amortization							1,300,000
Compensation expense recognized under earn-out agreements							$ 4,400,000
Total purchase price, net of cash acquired	$ 28,250,000
World of Medicine GmbH
Business Acquisition [Line Items]
Percentage of shares acquired		100.00%										100.00%
Purchase price		$ 134,934,000										€ 118.1
Intangible assets		59,732,000
Goodwill		55,632,000
Goodwill assets expected to be deductible for tax purposes		0
Total purchase price, net of cash acquired		133,534,000
World of Medicine GmbH | Revolving Credit Facility
Business Acquisition [Line Items]
Amount draw-down to finance acquisition		$ 134,800,000	€ 118
Laser Quantum
Business Acquisition [Line Items]
Total cash consideration				$ 31,052,000	£ 25.5
Percentage of shares acquired				35.00%						24.00%
Purchase price				$ 87,271,000
Intangible assets				38,955,000
Goodwill				31,168,000
Goodwill assets expected to be deductible for tax purposes				$ 0
Percentage of equity interest held before acquisition				41.00%					41.00%
Percentage of equity interest held after acquisition				76.00%
Option to purchase and sell remaining shareholders shares, year							2,020
Gain on business acquisition								26,400,000
Total purchase price, net of cash acquired				$ 15,709,000
Laser Quantum | Remaining Shareholders of Laser Quantum
Business Acquisition [Line Items]
Non controlling interest held by remaining shareholders				24.00%
Laser Quantum | Revolving Credit Facility
Business Acquisition [Line Items]
Amount draw-down to finance acquisition				$ 30,000,000
ThingMagic
Business Acquisition [Line Items]
Purchase price				19,089,000
Intangible assets				7,423,000
Goodwill				9,929,000
ThingMagic | Revolving Credit Facility
Business Acquisition [Line Items]
Amount draw-down to finance acquisition				$ 12,000,000
World of Medicine GmbH and Laser Quantum
Business Acquisition [Line Items]
Gain on business acquisition								26,400,000
Amortization of inventory fair value adjustments								4,400,000
Acquisition and related charges								4,300,000	$ 1,200,000
Income from equity method investments								100,000	2,200,000
World of Medicine GmbH and Laser Quantum | Increase in Amortization of Intangible Assets
Business Acquisition [Line Items]
Amortization of intangible assets including cost of goods sold amortization								5,300,000	12,500,000
World of Medicine GmbH and Laser Quantum | Increase in Interest Expense
Business Acquisition [Line Items]
Interest expense								1,400,000	3,900,000
Reach Technology Inc.
Business Acquisition [Line Items]
Percentage of shares acquired						100.00%
Total purchase price, net of cash acquired						$ 9,400,000
Closed Acquisitions
Business Acquisition [Line Items]
Acquisition and related charges							$ 1,100,000	$ 4,400,000	$ 200,000

Summary of Fair Values of Asset

Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation (Details) $ in Thousands, € in Millions, £ in Millions	May 01, 2018USD ($)	Jul. 03, 2017USD ($)	Jan. 10, 2017USD ($)	Jan. 10, 2017GBP (£)	Dec. 31, 2018USD ($)	May 01, 2018GBP (£)	Dec. 31, 2017USD ($)	Jul. 03, 2017EUR (€)	Jan. 10, 2017GBP (£)
Business Acquisition [Line Items]
Goodwill					$ 217,662		$ 210,988
Total purchase price paid by Novanta					$ 33,500
Zettlex Holdings Limited
Business Acquisition [Line Items]
Cash	$ 3,776
Accounts receivable	2,237
Inventories	928
Property, plant and equipment	2,590
Intangible assets	14,585
Goodwill	11,790
Other assets	145
Total assets acquired	36,051
Accounts payable	509
Accrued expenses and other liabilities	1,035
Deferred tax liabilities	2,481
Total liabilities assumed	4,025
Total assets acquired, net of liabilities assumed	32,026					£ 23.3
Less: cash acquired	3,776
Total purchase price, net of cash acquired	$ 28,250
World of Medicine GmbH
Business Acquisition [Line Items]
Cash		$ 1,400
Accounts receivable		11,807
Inventories		14,549
Property, plant and equipment		21,940
Intangible assets		59,732
Goodwill		55,632
Other assets		2,660
Total assets acquired		167,720
Accounts payable		4,398
Other liabilities		8,681
Deferred tax liabilities		19,707
Total liabilities assumed		32,786
Total assets acquired, net of liabilities assumed		134,934						€ 118.1
Less: cash acquired		1,400
Total purchase price, net of cash acquired		$ 133,534
Laser Quantum
Business Acquisition [Line Items]
Cash			$ 15,343
Accounts receivable			2,739
Inventories			6,264
Property, plant and equipment			2,286
Intangible assets			38,955
Goodwill			31,168
Other assets			717
Total assets acquired			97,472
Accounts payable			796
Other liabilities			2,068
Deferred tax liabilities			7,337
Total liabilities assumed			10,201
Total assets acquired, net of liabilities assumed			87,271
Less: fair value of equity interest previously held by Novanta			34,637
Less: fair value of noncontrolling interest			21,582						£ 17.7
Total purchase price paid by Novanta			31,052	£ 25.5
Less: cash acquired			15,343
Total purchase price, net of cash acquired			15,709
ThingMagic
Business Acquisition [Line Items]
Inventories			1,832
Intangible assets			7,423
Goodwill			9,929
Total assets acquired			19,184
Other liabilities			95
Total liabilities assumed			95
Total assets acquired, net of liabilities assumed			$ 19,089

Fair Value of Intangible Assets

Fair Value of Intangible Assets (Details) - USD ($) $ in Thousands	May 01, 2018	Jul. 03, 2017	Jan. 10, 2017
Zettlex Holdings Limited
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 14,585
World of Medicine GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 59,732
Laser Quantum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 38,955
ThingMagic
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			7,423
Developed Technologies | Zettlex Holdings Limited
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 3,027
Intangible Assets Weighted Average Amortization Period	10 years
Developed Technologies | World of Medicine GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 21,586
Intangible Assets Weighted Average Amortization Period		10 years
Developed Technologies | Laser Quantum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 15,501
Intangible Assets Weighted Average Amortization Period			15 years
Developed Technologies | ThingMagic
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 4,600
Intangible Assets Weighted Average Amortization Period			10 years
Customer Relationships | Zettlex Holdings Limited
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 9,494
Intangible Assets Weighted Average Amortization Period	15 years
Customer Relationships | World of Medicine GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 35,634
Intangible Assets Weighted Average Amortization Period		12 years
Customer Relationships | Laser Quantum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 19,990
Intangible Assets Weighted Average Amortization Period			15 years
Customer Relationships | ThingMagic
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 2,520
Intangible Assets Weighted Average Amortization Period			10 years
Trademarks and Trade Names | Zettlex Holdings Limited
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 550
Intangible Assets Weighted Average Amortization Period	10 years
Trademarks and Trade Names | World of Medicine GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 2,284
Intangible Assets Weighted Average Amortization Period		10 years
Trademarks and Trade Names | Laser Quantum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 1,964
Intangible Assets Weighted Average Amortization Period			15 years
Trademarks and Trade Names | ThingMagic
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 303
Intangible Assets Weighted Average Amortization Period			5 years
Backlog | Zettlex Holdings Limited
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 1,514
Intangible Assets Weighted Average Amortization Period	1 year
Backlog | World of Medicine GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 228
Intangible Assets Weighted Average Amortization Period		1 year
Backlog | Laser Quantum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 1,500
Intangible Assets Weighted Average Amortization Period			9 months

Summary of Unaudited Pro Forma

Summary of Unaudited Pro Forma Financial Information (Details) - World of Medicine GmbH and Laser Quantum - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Revenue	$ 562,818	$ 487,960
Consolidated net income	$ 39,630	$ 21,020
Earnings per share attributable to Novanta Inc. - Basic	$ 0.49	$ 0.62
Earnings per share attributable to Novanta Inc. - Diluted	$ 0.49	$ 0.61

Summary of Unaudited Pro Form_2

Summary of Unaudited Pro Forma Financial Information (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Business Combinations [Abstract]
Adjustment of redeemable noncontrolling interest to estimated redemption value	$ 20.2	$ 0

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest- Additional Information (Details) £ in Millions	Sep. 27, 2018USD ($)shares	Dec. 31, 2018USD ($)	Jan. 10, 2017USD ($)	Jan. 10, 2017GBP (£)	Dec. 31, 2016
Minority Interest [Line Items]
Consideration transferred in cash		$ 30,800,000
Laser Quantum
Minority Interest [Line Items]
Percentage of equity interest held before acquisition			41.00%	41.00%	41.00%
Percentage of equity interest held after acquisition			76.00%	76.00%
Initial fair value of noncontrolling interest			$ 21,582,000	£ 17.7
Percentage of outstanding shares acquired	24.00%		35.00%	35.00%
Consideration transferred in cash and restricted stock for percentage of shares acquired	$ 45,100,000
Consideration transferred in cash	$ 30,700,000
Gain (loss) recognized on acquisition		$ 0
Laser Quantum | Restricted Stock
Minority Interest [Line Items]
Consideration transferred in restricted stock shares | shares	213,219
Vesting date		Dec. 31, 2025

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interest- Summary of Changes in Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Abstract]
Balance as of December 31, 2017	$ 46,923
Net income attributable to noncontrolling interest	1,986	$ 2,256
Redeemable noncontrolling interest redemption value adjustment	(1,781)	20,244
Foreign currency translation	(1,926)
Acquisition of noncontrolling interest	$ (45,202)
Balance as of December 31, 2018		$ 46,923

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		$ 311,545
Other comprehensive income (loss)		(5,473)	$ 8,790	$ (9,611)
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	826	1,045	726
Ending Balance		368,255	311,545
Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(17,880)	(27,715)	(18,830)
Ending Balance		(22,527)	(17,880)	(27,715)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(8,313)	(17,222)	(9,698)
Other comprehensive income (loss)		(4,172)	8,909	(7,524)
Ending Balance		(12,485)	(8,313)	(17,222)
Pension Liability Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(9,567)	(10,493)	(9,132)
Other comprehensive income (loss)		(1,301)	(119)	(2,087)
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	826	1,045	726
Ending Balance		$ (10,042)	$ (9,567)	$ (10,493)
[1]	The amounts reclassified from accumulated other comprehensive income (loss) were included in other income (expense) in the consolidated statements of operations.

Summary of Changes in Goodwill

Summary of Changes in Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Balance at beginning of year	$ 210,988
Goodwill acquired from acquisitions	12,011
Effect of foreign exchange rate changes	(5,337)
Balance at end of year	$ 217,662

Goodwill By Reportable Segment

Goodwill By Reportable Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill	$ 368,891	$ 362,217
Accumulated impairment of goodwill	(151,229)	(151,229)
Total	217,662	210,988
Photonics
Goodwill [Line Items]
Goodwill	168,955	170,818
Accumulated impairment of goodwill	(102,461)	(102,461)
Total	66,494	68,357
Vision
Goodwill [Line Items]
Goodwill	155,017	157,436
Accumulated impairment of goodwill	(31,722)	(31,722)
Total	123,295	125,714
Precision Motion
Goodwill [Line Items]
Goodwill	44,919	33,963
Accumulated impairment of goodwill	(17,046)	(17,046)
Total	$ 27,873	$ 16,917

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 293,298	$ 283,445
Amortizable intangible assets, accumulated amortization	(163,405)	(141,424)
Amortizable intangible assets, net carrying amount	$ 129,893	$ 142,021
Amortizable intangible assets, weighted average remaining life (Years)	10 years 6 months	11 years 3 months 18 days
Non-amortizable intangible assets	$ 13,027	$ 13,027
Gross carrying amount	306,325	296,472
Net carrying amount	142,920	155,048
Patents and Developed Technologies
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	134,034	130,890
Amortizable intangible assets, accumulated amortization	(86,623)	(77,295)
Amortizable intangible assets, net carrying amount	$ 47,411	$ 53,595
Amortizable intangible assets, weighted average remaining life (Years)	9 years	10 years 2 months 12 days
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 139,097	$ 131,809
Amortizable intangible assets, accumulated amortization	(64,174)	(52,015)
Amortizable intangible assets, net carrying amount	$ 74,923	$ 79,794
Amortizable intangible assets, weighted average remaining life (Years)	11 years 8 months 12 days	12 years 3 months 18 days
Customer Backlog
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 1,738	$ 2,524
Amortizable intangible assets, accumulated amortization	(1,191)	(2,284)
Amortizable intangible assets, net carrying amount	$ 547	$ 240
Amortizable intangible assets, weighted average remaining life (Years)	4 months 24 days	9 months 18 days
Non-compete Covenant
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 2,514	$ 2,514
Amortizable intangible assets, accumulated amortization	(2,493)	(1,956)
Amortizable intangible assets, net carrying amount	$ 21	$ 558
Amortizable intangible assets, weighted average remaining life (Years)	1 month 6 days	10 months 24 days
Trademarks and Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 15,915	$ 15,708
Amortizable intangible assets, accumulated amortization	(8,924)	(7,874)
Amortizable intangible assets, net carrying amount	$ 6,991	$ 7,834
Amortizable intangible assets, weighted average remaining life (Years)	9 years 1 month 6 days	9 years 8 months 12 days

Goodwill, Intangible Assets a_3

Goodwill, Intangible Assets and Impairment Charges - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets [Line Items]
Impairment of goodwill and intangible assets		$ 0	$ 0	$ 0
Customer Relationships
Goodwill And Intangible Assets [Line Items]
Intangible assets recognized in conjunction with acquisition	$ 1,200,000

Amortization Expense of Intangi

Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense – cost of revenue	$ 10,060	$ 8,824	$ 4,164
Amortization expense – operating expenses	15,550	12,096	8,251
Total amortization expense	$ 25,610	$ 20,920	$ 12,415

Estimated Future Amortization E

Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
2,019	$ 23,955
2,020	20,716
2,021	18,895
2,022	15,974
2,023	13,562
Thereafter	36,791
Amortizable intangible assets, net carrying amount	129,893	$ 142,021
Cost of Revenue
Finite Lived Intangible Assets [Line Items]
2,019	9,222
2,020	8,321
2,021	7,406
2,022	6,308
2,023	5,409
Thereafter	10,745
Amortizable intangible assets, net carrying amount	47,411
Operating Expenses
Finite Lived Intangible Assets [Line Items]
2,019	14,733
2,020	12,395
2,021	11,489
2,022	9,666
2,023	8,153
Thereafter	26,046
Amortizable intangible assets, net carrying amount	$ 82,482

Fair Value Measurements - Asset

Fair Value Measurements - Asset Acquisition Contingent Consideration - Additional Information (Details) - Video Signal Processing and Management Technologies $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2018USD ($)Installment	Dec. 31, 2017USD ($)	Dec. 14, 2016USD ($)	Dec. 14, 2016EUR (€)
Asset Acquisition Contingent Consideration [Line Items]
Date of acquisition agreement	Dec. 14, 2016
Number of contingent consideration | Installment	4
Undiscounted range of outcomes, minimum			$ 0
Undiscounted range of outcomes, maximum			$ 6,600	€ 5.5
Long-term Liability in Other Liabilities
Asset Acquisition Contingent Consideration [Line Items]
Estimated fair value of contingent consideration	$ 3,400	$ 1,300

Fair Value Measurements - Busin

Fair Value Measurements - Business Acquisition Contingent Consideration - Additional Information (Details) - Applimotion Inc. $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018Installment	Dec. 31, 2017USD ($)	Feb. 19, 2015USD ($)
Business Acquisition Contingent Consideration [Line Items]
Business combination, date of agreement			Feb. 19, 2015
Name of acquired entity			Applimotion Inc.
Number of contingent consideration | Installment			2
Estimated fair value of contingent consideration				$ 2.8	$ 1
Payments of contingent consideration	$ 2.8	$ 1.2

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash equivalents	$ 4,288	$ 2,665
Assets, fair value	4,303	2,815
Liabilities
Liabilities, fair value	3,558	4,104
Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	15	150
Other Liabilities
Liabilities
Contingent consideration - Long-term	3,376	1,304
Accrued Expenses and Other Current Liabilities
Liabilities
Foreign currency forward contracts	182
Contingent consideration - Current		2,800
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	4,288	2,665
Assets, fair value	4,288	2,665
Significant Other Observable Inputs (Level 2)
Assets
Assets, fair value	15	150
Liabilities
Liabilities, fair value	182
Significant Other Observable Inputs (Level 2) | Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	15	150
Significant Other Observable Inputs (Level 2) | Accrued Expenses and Other Current Liabilities
Liabilities
Foreign currency forward contracts	182
Significant Other Unobservable Inputs (Level 3)
Liabilities
Liabilities, fair value	3,376	4,104
Significant Other Unobservable Inputs (Level 3) | Other Liabilities
Liabilities
Contingent consideration - Long-term	$ 3,376	1,304
Significant Other Unobservable Inputs (Level 3) | Accrued Expenses and Other Current Liabilities
Liabilities
Contingent consideration - Current		$ 2,800

Summary of Changes in the Fair

Summary of Changes in the Fair Value of Level 3 Contingent Consideration (Details) - Significant Other Unobservable Inputs (Level 3) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 4,104
Payments	(2,800)
Fair value adjustments	2,072
Ending balance	$ 3,376

Foreign Currency Contracts - Ad

Foreign Currency Contracts - Additional Information (Details) - Foreign Currency Forward Contracts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amount of foreign currency forward contracts	$ 31.2	$ 17.9
Net gain (loss) on foreign currency forward contracts	(0.2)	0.2
Foreign Exchange Transaction Gains (Losses)
Derivative [Line Items]
Aggregate net gain recognized	$ 1.5	$ 0.2

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerators:
Consolidated net income	$ 51,095	$ 62,307	$ 22,003
Less: Net income attributable to noncontrolling interest	(1,986)	(2,256)
Net income attributable to Novanta Inc.	49,109	60,051	22,003
Redeemable noncontrolling interest redemption value adjustment (Note 5)	1,781	(20,244)
Net income attributable to Novanta Inc. after adjustment for redeemable noncontrolling interest redemption value	$ 50,890	$ 39,807	$ 22,003
Denominators:
Weighted average common shares outstanding—basic	34,913	34,817	34,694
Dilutive potential common shares	560	463	220
Weighted average common shares outstanding— diluted	35,473	35,280	34,914
Antidilutive common shares excluded from above	4		85
Earnings per Common Share Attributable to Novanta Inc.:
Basic	$ 1.46	$ 1.14	$ 0.63
Diluted	$ 1.43	$ 1.13	$ 0.63

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 69,008	$ 57,277
Work-in-process	15,982	14,847
Finished goods	17,337	16,443
Demo and consigned inventory	2,437	2,711
Total inventories	$ 104,764	$ 91,278

Property Plant and Equipment, N

Property Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 133,986	$ 127,177
Accumulated depreciation	(68,522)	(65,459)
Property, plant and equipment, net	65,464	61,718
Land, Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	56,068	53,055
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 77,918	$ 74,122

Supplementary Balance Sheet I_3

Supplementary Balance Sheet Information - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Asset capitalized under capital lease	$ 13,537	$ 13,562
Capitalized software development costs	$ 1,100	$ 2,000	$ 2,300

Summary of Depreciation Expense

Summary of Depreciation Expense on Property, Plant and Equipment, Including Demo Units and Assets under Capital Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Depreciation expense	$ 11,442	$ 9,838	$ 8,558

Summary of Total Accumulated De

Summary of Total Accumulated Depreciation on Assets under Capital Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accumulated depreciation on assets under capital leases	$ 6,901	$ 6,097

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Accrued compensation and benefits	$ 24,545	$ 17,348
Accrued warranty	4,510	4,835	$ 3,142	$ 3,335
Contract liabilities, current portion	4,165	4,790
Other	13,075	16,341
Total	$ 46,295	$ 43,314

Accrued Warranty (Details)

Accrued Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Product Warranties Disclosures [Abstract]
Balance at beginning of year	$ 4,835	$ 3,142	$ 3,335
Provision charged to cost of revenue	3,111	3,169	1,673
Warranty liabilities acquired from acquisitions		1,307	23
Use of provision	(3,341)	(2,857)	(1,849)
Foreign currency exchange rate changes	(95)	74	(40)
Balance at end of year	$ 4,510	$ 4,835	$ 3,142

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total current portion of long-term debt	$ 4,535	$ 9,119
Total long-term debt	202,843	225,500
Total Senior Credit Facilities	207,378	234,619
Term Loan
Debt Instrument [Line Items]
Current portion of long-term debt, Gross	4,600	9,200
Long-term debt, Gross	69,925	79,125
Total Senior Credit Facilities	74,525
Term Loan And Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	(65)	(81)
Less: unamortized debt issuance costs	(2,140)	(3,078)
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 135,058	$ 149,453

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Dec. 31, 2018	Feb. 26, 2018	Aug. 01, 2017	May 19, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 28, 2017
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 300,000,000
Senior credit facilities maturity period				5 years
Senior credit facilities maturity year				2021-05
Unused commitment fees percentage					0.40%
Maximum consolidated leverage ratio				300.00%
Second amended and restated credit agreement, fourth amendment, covenants				The Second Amended and Restated Credit Agreement also requires the Company to satisfy certain financial covenants, such as maintaining a minimum consolidated fixed charge coverage ratio of 1.50 and a maximum consolidated leverage ratio of 3.00. The maximum consolidated leverage ratio will increase to 3.50 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $50.0 million.
Minimum consolidated fixed charge coverage ratio				150.00%
Long-term debt including current maturities	$ 207,378,000				$ 207,378,000	$ 234,619,000
Debt weighted average interest rate	3.37%				3.37%
Non-cash interest expense related to amortization of deferred financing costs					$ 1,000,000	$ 800,000	$ 900,000
Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate					1.75%
Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate					2.75%
Base Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate					0.75%
Base Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate					1.75%
Term Loan
Debt Instrument [Line Items]
Long-term debt including current maturities	$ 74,525,000				$ 74,525,000
Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				300.00%
Second Amended and Restated Credit Agreement | Permitted Acquisitions and Stock Repurchases
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				250.00%
Second Amended and Restated Credit Agreement | Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				300.00%
Second Amended and Restated Credit Agreement | Four Consecutive Quarters Following Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				350.00%
Second Amended and Restated Credit Agreement | Acquisition with Aggregate Consideration Greater than or Equal to $50 million
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				350.00%
Debt instrument, covenant, required business acquisition consideration, minimum				$ 50,000,000
Second Amended and Restated Credit Agreement | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				75,000,000
Long-term debt including current maturities								$ 65,600,000
Second Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 225,000,000
Second Amended and Restated Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Unused commitment fees percentage					0.25%
Second Amended and Restated Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Unused commitment fees percentage					0.45%
Second Amended and Restated Credit Facility | Dividend Payments and Stock Repurchases
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				250.00%
Third Amendment to Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Senior credit facilities maturity year					2021-05
Debt instrument, frequency of periodic payment					quarterly
Third Amendment to Second Amended and Restated Credit Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt including current maturities			$ 90,600,000
Quarterly installments payable on term loan			2,300,000
Debt instrument, final installment amount			56,100,000
Third Amendment to Second Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			325,000,000
Line of credit facility accordion feature			$ 125,000,000
Available for borrowings capacity	$ 189,900,000				$ 189,900,000
Fourth Amendment to Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	350.00%
Second amended and restated credit agreement, fourth amendment, covenants		The Fourth Amendment increased the maximum permitted consolidated leverage ratio from 3.00 to 3.50, increased the maximum consolidated leverage ratio for permitted acquisitions and stock repurchases from 2.50 to 3.00, increased the maximum permitted consolidated leverage ratio for a designated acquisition from 3.00 to 3.50, and increased the maximum permitted leverage ratio for four consecutive quarters following a designated acquisition from 3.50 to 4.00.
Fourth Amendment to Second Amended and Restated Credit Agreement | Permitted Acquisitions and Stock Repurchases
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	300.00%
Fourth Amendment to Second Amended and Restated Credit Agreement | Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	350.00%
Fourth Amendment to Second Amended and Restated Credit Agreement | Four Consecutive Quarters Following Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	400.00%

Repayments of Outstanding Princ

Repayments of Outstanding Principal under Term Loan Facility (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long Term Debt Maturities Repayments Of Principal [Line Items]
Total Senior Credit Facilities	$ 207,378	$ 234,619
Term Loan
Long Term Debt Maturities Repayments Of Principal [Line Items]
2,019	4,600
2,020	9,200
2,021	60,725
Total Senior Credit Facilities	$ 74,525

Capital Stock and Share-Based_3

Capital Stock and Share-Based Compensation - Additional Information (Details) - USD ($)	Dec. 31, 2018	Mar. 30, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Oct. 31, 2018	May 31, 2014	Oct. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchase of common stock			$ 5,850,000	$ 370,000	$ 1,634,000
Share-based compensation expense recognized			7,714,000	5,493,000	4,293,000
Unrecognized stock-based compensation expense	$ 13,100,000		13,100,000			$ 13,100,000
Unrecognized stock-based compensation expense, weighted-average recognition period	2 years 2 months 26 days
Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense recognized			$ 500,000	$ 500,000	$ 500,000
2010 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares to be issued								4,398,613
Incentive plan and award expiration date			Apr. 9, 2024
Shares available for future issuance	950,865		950,865			950,865
2010 Incentive Award Plan | Restricted Stock Units and Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total value of restricted stock and deferred stock units vested			$ 10,500,000
2010 Incentive Award Plan | EPS Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
2010 Incentive Award Plan | TSR Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
2010 Incentive Award Plan | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
Stock options, Granted		193,000	0
Stock options, Expiration Period		10 years
Stock options, Exercised			0
Minimum | 2010 Incentive Award Plan | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
Minimum | 2010 Incentive Award Plan | EPS Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			0.00%
Minimum | 2010 Incentive Award Plan | TSR Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			0.00%
Maximum | 2010 Incentive Award Plan | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			5 years
Maximum | 2010 Incentive Award Plan | EPS Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			200.00%
Maximum | 2010 Incentive Award Plan | TSR Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			200.00%
2013 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares repurchased			89,000			385,000
Repurchase of common stock			$ 5,900,000			$ 10,000,000
Shares repurchased, average cost per share			$ 65.43			$ 25.97
2013 Repurchase Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount									$ 10,000,000
2018 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount							$ 25,000,000
Shares repurchased			0

Capital Stock and Share-Based_4

Capital Stock and Share-Based Compensation - Share-Based Compensation Expense Recorded In Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 7,714	$ 5,493	$ 4,293
Selling, general and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	6,997	5,065	3,920
Research and development and engineering
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	438	221	117
Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	211	$ 207	$ 256
Restructuring, acquisition and divestiture related costs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense, adjustment	$ 68

Capital Stock and Share-Based_5

Capital Stock and Share-Based Compensation - Restricted Stock Units Issued and Outstanding (Details) - 2010 Incentive Award Plan - Restricted Stock Units (RSUs) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Restricted Stock Units
Unvested, Beginning Balance | shares	614
Granted | shares	130
Vested | shares	(188)
Forfeited | shares	(27)
Unvested, Ending Balance | shares	529
Expected to vest at end of period | shares	509
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 18.35
Granted | $ / shares	55.27
Vested | $ / shares	18.77
Forfeited | $ / shares	24.53
Unvested, Ending Balance | $ / shares	26.98
Expected to vest at end of period | $ / shares	$ 26.31
Weighted Average Remaining Vesting Period (in years)
Unvested at end of period	1 year 7 months 2 days
Expected to vest at end of period	1 year 7 months 2 days
Aggregate Intrinsic Value
Unvested at end of period | $	$ 33,308	[1]
Expected to vest at end of period | $	$ 32,041	[1]
[1]	The aggregate intrinsic value is calculated based on the fair value of $63.00 per share of the Company’s common stock on December 31, 2018 due to the fact that the restricted stock units carry a $0 purchase price.

Capital Stock and Share-Based_6

Capital Stock and Share-Based Compensation - Restricted Stock Units Issued and Outstanding (Parenthetical) (Details) - 2010 Incentive Award Plan - Restricted Stock Units (RSUs)	Dec. 31, 2018$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock fair value per share	$ 63
Restricted stock units purchase price per share	$ 0

Capital Stock and Share-Based_7

Capital Stock and Share-Based Compensation - Performance Stock Units Issued and Outstanding (Details) - 2010 Incentive Award Plan - Performance Stock Units $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Performance Stock Units
Unvested, Beginning Balance | shares	89	[1]
Granted | shares	48	[1]
Unvested, Ending Balance | shares	137	[1]
Expected to vest at end of period | shares	167	[1]
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 24
Granted | $ / shares	62.17
Unvested, Ending Balance | $ / shares	37.28
Expected to vest at end of period | $ / shares	$ 33.21
Weighted Average Remaining Vesting Period (in years)
Unvested at end of period	1 year 1 month 20 days
Expected to vest at end of period	1 year 1 month 20 days
Aggregate Intrinsic Value
Unvested at end of period | $	$ 8,645	[2]
Expected to vest at end of period | $	$ 10,491	[2]
[1]	The unvested PSUs are shown in this table at target, except for the number of shares vested, which reflect the shares earned and number of shares expected to vest. As of December 31, 2018, the maximum number of PSUs available to be earned is approximately 274 thousand.
[2]	The aggregate intrinsic value is calculated based on the fair value of $63.00 per share of the Company’s common stock on December 31, 2018 due to the fact that the performance stock units carry a $0 purchase price

Capital Stock and Share-Based_8

Capital Stock and Share-Based Compensation - Performance Stock Units Issued and Outstanding (Parenthetical) (Details) - 2010 Incentive Award Plan - Performance Stock Units	Dec. 31, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of PSUs available to be earned | shares	274,000
Common stock fair value per share	$ 63
Performance stock units purchase price per share	$ 0

Capital Stock and Share-Based_9

Capital Stock and Share-Based Compensation - Fair Value of TSR Performance-Based Restricted Stock Units Estimated Using Monte-Carol Valuation Model (Details) - TSR Performance-based Restricted Stock Units	12 Months Ended
	Dec. 31, 2018$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date stock price	$ 53.85
Expected volatility	30.35%
Risk-free interest rate	2.37%
Expected annual dividend yield	0.00%
Weighted average fair value	$ 70.49

Capital Stock and Share-Base_10

Capital Stock and Share-Based Compensation - Stock Options Outstanding, Exercisable and Expected to Vest (Details) - 2010 Incentive Award Plan - Stock Options $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares
Number of Shares
Stock options outstanding | shares	103
Stock options exercisable | shares	69
Stock options expected to vest | shares	34
Weighted Average Exercise Price
Stock options outstanding | $ / shares	$ 14.13
Stock options exercisable | $ / shares	14.13
Stock options expected to vest | $ / shares	$ 14.13
Weighted Average Remaining Contractual Term (years)
Stock options outstanding	7 years 3 months
Stock options exercisable	7 years 3 months
Stock options expected to vest	7 years 3 months
Aggregate Intrinsic Value
Stock options outstanding | $	$ 5,027
Stock options exercisable | $	3,351
Stock options expected to vest | $	$ 1,676

Capital Stock and Share-Base_11

Capital Stock and Share-Based Compensation - Stock Options Outstanding, Exercisable and Expected to Vest (Details) (Parenthetical) (Details)	Dec. 31, 2018$ / shares
2010 Incentive Award Plan | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock fair value per share	$ 63

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Compensation And Retirement Disclosure [Abstract]
Contribution to defined contribution plan by employer	$ 3.9	$ 3.1	$ 2.5
Funding valuation period	3 years
Defined benefit plan estimated employer contributions for 2019	$ 0.9
Defined benefit plan estimated employer contributions increasing percentage for 2019 thereafter	2.90%

Net Periodic Pension Cost (Deta

Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components of the net periodic pension cost:
Interest cost	$ 939	$ 991	$ 1,232
Expected return on plan assets	(1,717)	(1,665)	(1,566)
Amortization of actuarial losses	826	1,045	726
Net periodic pension cost	$ 48	$ 371	$ 392

Actuarial Assumptions used to C

Actuarial Assumptions used to Compute Net Periodic Pension Cost (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Compensation And Retirement Disclosure [Abstract]
Weighted-average discount rate	2.40%	2.60%	3.80%
Weighted-average long-term rate of return on plan assets	4.80%	5.20%	5.30%

Actuarial Assumptions used to_2

Actuarial Assumptions used to Compute Benefit Obligations (Details)	Dec. 31, 2018	Dec. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Weighted-average discount rate	2.70%	2.40%
Rate of inflation	2.80%	2.90%

Reconciliation of Benefit Oblig

Reconciliation of Benefit Obligations and Plan Assets of U.K. Plan (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in benefit obligation:
Projected benefit obligation at beginning of year		$ 40,329	$ 37,261
Interest cost		939	991	$ 1,232
Actuarial (gains) losses		(1,718)	(27)
Benefits paid		(1,301)	(1,313)
Prior service cost	[1]	754
Foreign currency exchange rate changes		(2,121)	3,417
Projected benefit obligation at end of year		36,882	40,329	37,261
Accumulated benefit obligation at end of year		36,882	40,329
Change in plan assets:
Fair value of plan assets at beginning of year		36,476	31,304
Actual return on plan assets		(1,083)	2,605
Employer contributions		941	887
Benefits paid		(1,301)	(1,313)
Foreign currency exchange rate changes		(1,909)	2,993
Fair value of plan assets at end of year		33,124	36,476	31,304
Funded status at end of year		(3,758)	(3,853)
Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost:
Net actuarial losses at beginning of year		(10,493)	(11,697)
Net actuarial gains (losses) during the year		(1,082)	967
Prior service cost arising during the year	[1]	(754)
Amounts reclassified from accumulated other comprehensive income to income before income taxes		826	1,045
Foreign currency exchange rate changes		383	(808)
Net actuarial loss		(11,120)	(10,493)	$ (11,697)
Amounts expected to be amortized from accumulated other comprehensive loss into net periodic pension cost over the next fiscal year consists of:
Net actuarial loss		959	$ 957
Prior service cost		$ 29
[1]	On October 26, 2018, the High Court of Justice in the U.K. ruled that the Guaranteed Minimum Pensions (“GMPs”) provided by pension schemes need to equalize lifetime GMP benefits between genders. In order to meet the requirements set out by the High Court, the Company recorded an estimate of $0.8 million additional benefit obligations based on the existing plan participants, the date the U.K. Plan was allowed to stop accruing additional benefits, the pension plan rules and the approach taken to equalize the benefits. The additional benefit obligation will be amortized and recognized as part of net periodic pension cost in the consolidated statement of operations over the average remaining life expectancy of the plan participants.

Reconciliation of Benefit Obl_2

Reconciliation of Benefit Obligations and Plan Assets of U.K. Plan (Parenthetical) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Compensation And Retirement Disclosure [Abstract]
Additional benefit obligations	$ 754	[1]
[1]	On October 26, 2018, the High Court of Justice in the U.K. ruled that the Guaranteed Minimum Pensions (“GMPs”) provided by pension schemes need to equalize lifetime GMP benefits between genders. In order to meet the requirements set out by the High Court, the Company recorded an estimate of $0.8 million additional benefit obligations based on the existing plan participants, the date the U.K. Plan was allowed to stop accruing additional benefits, the pension plan rules and the approach taken to equalize the benefits. The additional benefit obligation will be amortized and recognized as part of net periodic pension cost in the consolidated statement of operations over the average remaining life expectancy of the plan participants.

Expected Future Benefit Payment

Expected Future Benefit Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Compensation And Retirement Disclosure [Abstract]
2,019	$ 859
2,020	1,133
2,021	1,197
2,022	1,038
2,023	1,137
2024-2026	8,370
Total	$ 13,734

Summary of Fair Value of Plan A

Summary of Fair Value of Plan Assets by Asset Category (Details) - USD ($) $ in Thousands	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	$ 33,124		$ 36,476		$ 31,304
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	109		136
Not Subject to Leveling | ASU 2015-07
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	33,015		36,340
Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	24,564	[1]	26,816	[2]
Balanced Fund | Not Subject to Leveling | ASU 2015-07
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	24,564	[1]	26,816	[2]
Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	8,451	[3]	9,524	[4]
Fixed Income | Not Subject to Leveling | ASU 2015-07
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	8,451	[3]	9,524	[4]
Cash
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	109		136
Cash | Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	$ 109		$ 136
[1]	This class comprises a diversified portfolio of global investments which seeks a balanced return between capital growth and fixed income and is allocated on a weighted average basis as follows: equities (42%), bonds (19%), other assets (38%) and cash (1%).
[2]	This class comprises a diversified portfolio of global investments which seeks a balanced return between capital growth and fixed income and is allocated on a weighted average basis as follows: equities (38%), bonds (27%), other assets (31%) and cash (4%).
[3]	This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds (86%) and cash (14%).
[4]	This class comprises a diversified portfolio of global investments which seeks long-term capital growth and is allocated on a weighted average basis as follows: bonds (92%) and cash (8%).

Summary of Fair Value of Plan_2

Summary of Fair Value of Plan Assets by Asset Category (Parenthetical) (Details)	Dec. 31, 2018	Dec. 31, 2017
Bonds | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	19.00%	27.00%
Bonds | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	86.00%	92.00%
Equity Securities | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	42.00%	38.00%
Other Asset | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	38.00%	31.00%
Cash | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	1.00%	4.00%
Cash | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	14.00%	8.00%

Components of Income (Loss) Bef

Components of Income (Loss) Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income (loss) before income taxes:
Income before income taxes	$ 61,302	$ 76,134	$ 32,522
CANADA
Income (loss) before income taxes:
Foreign	(796)	(2,036)	(1,872)
UNITED STATES
Income (loss) before income taxes:
U.S.	39,356	37,327	20,422
Other Countries
Income (loss) before income taxes:
Foreign	$ 22,742	$ 40,843	$ 13,972

Components of Income Tax Provis

Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	$ 16,283	$ 16,387	$ 12,285
Deferred income tax provision (benefit)	(6,076)	(2,560)	(1,766)
Income Tax Provision (benefit)	10,207	13,827	10,519
CANADA
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	75	146	43
Deferred income tax provision (benefit)			0
UNITED STATES
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	8,095	9,434	9,678
Deferred income tax provision (benefit)	(2,272)	2,396	(2,378)
Other Countries
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	8,113	6,807	2,564
Deferred income tax provision (benefit)	$ (3,804)	$ (4,956)	$ 612

Reconciliation of Statutory Can

Reconciliation of Statutory Canadian Tax rate to Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Statutory Canadian tax rate	21.00%	35.00%
Income Tax Provision (benefit)	$ 10,207	$ 13,827	$ 10,519
Canada Revenue Agency
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Statutory Canadian tax rate	29.00%	29.00%	28.50%
Expected income tax provision at Canadian statutory tax rate	$ 17,778	$ 22,079	$ 9,269
International tax rate differences	(4,474)	(2,038)	891
U.S. state income taxes, net	831	674	503
Withholding and other taxes	550	484	441
Permanent differences and other	1,015	1,582	84
Section 199 deduction		(1,148)	(1,063)
Foreign-derived intangible income	(1,628)
Tax credits	(1,250)	(984)	(1,095)
Statutory tax rate changes	(285)	2,823	(856)
Uncertain tax positions	190	(1,607)	(103)
Change in valuation allowance	(262)	(354)	1,202
Acquisition contingent consideration adjustments	833	149	762
Transaction costs	172	1,011	649
Provision to return differences	(385)	225	(93)
Benefit from share-based compensation	(931)	(837)	(72)
Gain on Laser Quantum acquisition		(6,586)
UK patent box	(1,947)	(1,646)
Income Tax Provision (benefit)	$ 10,207	$ 13,827	$ 10,519
Effective tax rate	16.70%	18.20%	32.30%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Statutory Canadian tax rate	21.00%	35.00%
Deferred tax assets, valuation allowances	$ 12,884	$ 12,811
Valuation allowances recorded on operating losses in certain tax jurisdictions	300	400
Loss carryforwards	3,700	3,700
Capital loss carryforward	5,700	5,700
Tax credits	2,800	2,600
Undistributed earnings of foreign subsidiaries	135,600
Estimated unrecognized income tax and foreign tax liabilities related to undistributed earnings of foreign subsidiaries	300
Unrecognized tax benefits	4,725	4,089	$ 4,962	$ 5,490
Unrecognized tax benefits that will impact tax rate if recognized	3,600	3,400
Unrecognized tax benefit income tax interest and penalties accrued	500	400
Unrecognized tax benefits, income tax penalties and interest expense	100	100
Maximum
Income Taxes [Line Items]
Maximum unrecognized tax benefits expected to be recorded in next twelve months	500	200
CANADA
Income Taxes [Line Items]
Deferred tax assets, valuation allowances	400
Loss carryforwards	$ 3,000	$ 2,700
Operating loss carryforwards expiration year	2,033	2,032
Capital loss carryforward	$ 5,200	$ 5,200
Tax credits	1,900	1,900
CANADA | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits	$ 1,200	$ 1,200
Tax credits, expiration Year	2,022	2,022
CANADA | Tax Credits That Can Be Carried Forward Indefinitely
Income Taxes [Line Items]
Tax credits	$ 700	$ 700
UNITED STATES
Income Taxes [Line Items]
Loss carryforwards	$ 700	$ 1,000
Operating loss carryforwards expiration year	2,037	2,036
Tax credits	$ 900	$ 700
UNITED STATES | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits	$ 800	$ 600
Tax credits, expiration Year	2,033	2,032
UNITED STATES | Tax Credits That Can Be Carried Forward Indefinitely
Income Taxes [Line Items]
Tax credits	$ 100	$ 100
UNITED KINGDOM
Income Taxes [Line Items]
Capital loss carryforward	$ 500	$ 500

Significant Components of Defer

Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Losses	$ 9,385	$ 9,407
Compensation related deductions	4,780	3,687
Inventories	4,170	3,400
Tax credits	2,785	2,594
Unrealized currency gains/losses		183
Restructuring related liabilities	202	172
Warranty	35	768
Other	885
Total deferred tax assets	22,242	20,211
Valuation allowance on deferred tax assets	(12,884)	(12,811)
Net deferred tax assets	9,358	7,400
Deferred tax liabilities:
Depreciation	(1,867)	(1,353)
Amortization	(20,258)	(23,496)
Unrealized currency gains/losses	(373)
Other		(1,171)
Total deferred tax liabilities	(22,498)	(26,020)
Net deferred income tax (liabilities)	$ (13,140)	$ (18,620)

Reconciliation of Total Amounts

Reconciliation of Total Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Beginning balance of unrecognized tax benefits	$ 4,089	$ 4,962	$ 5,490
Additions based on tax positions related to the current year	394	991	561
Additions for tax positions of prior years	655	496	88
Reductions to tax positions of prior years	(69)	(28)	(45)
Reductions to tax positions resulting from a lapse of the applicable statute of limitations	(239)	(1,577)	(842)
Settlements with tax authorities	(105)	(755)	(290)
Ending balance of unrecognized tax benefits	$ 4,725	$ 4,089	$ 4,962

Income Tax Returns to be Review

Income Tax Returns to be Reviewed (Details)	12 Months Ended
	Dec. 31, 2018
UNITED STATES
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,015
CANADA
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,015
UNITED KINGDOM
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,017
GERMANY
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,014
THE NETHERLANDS
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,012
CHINA
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,009
JAPAN
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2,013

Schedule of Restructuring, Acqu

Schedule of Restructuring, Acquisition and Divestiture Related Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost And Reserve [Line Items]
Total restructuring and divestiture related charges	$ 2,025	$ 346	$ 2,970
Acquisition and related charges	6,016	7,196	4,975
Total restructuring, acquisition and divestiture related costs	8,041	7,542	7,945
2019 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring and divestiture related charges	378
2018 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring and divestiture related charges	$ 1,647
2016 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring and divestiture related charges		332	3,049
2011 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring and divestiture related charges		$ 14	$ (79)

Restructuring, Acquisition an_3

Restructuring, Acquisition and Divestiture Related Costs - Additional Information (Details) $ in Thousands	1 Months Ended		12 Months Ended				86 Months Ended
	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018Facility
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs				$ 2,025	$ 346	$ 2,970
Proceeds from the sale of property, plant and equipment				267	46	7,037
Cash payments				1,490	1,212
Acquisition and related charges				6,016	7,196	4,975
Finders' Fees, Legal, Valuation And Other Professional Or Consulting Fees
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges				1,400	6,800	2,500
Earn-out Agreement
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges				4,600	400	2,500
Scenario, Forecast
Restructuring and Acquisition Related Costs [Line Items]
Cash payments			$ 1,100
Severance Costs
Restructuring and Acquisition Related Costs [Line Items]
Cash payments				$ 962	692
2019 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring plan				During the fourth quarter of 2018, the Company implemented a restructuring plan intended to realign operations, reduce costs, achieve operational efficiencies and focus resources on growth initiatives. In 2018, the Company recorded $0.4 million in severance and related costs in connection with the 2019 restructuring plan. These costs were primarily reported in the Vision reportable segment. The Company anticipates completing the 2019 restructuring program in 2019 and expects to incur restructuring charges of $2.0 million to $3.5 million related to the 2019 restructuring program in the next twelve months.
Restructuring Costs				$ 378
2019 Restructuring | Additional Restructuring Costs | Minimum | Scenario, Forecast
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs			2,000
2019 Restructuring | Additional Restructuring Costs | Maximum | Scenario, Forecast
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs			$ 3,500
2019 Restructuring | Vision | Severance Costs
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs				$ 400
2018 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring plan				During the second quarter of 2018, the Company initiated a program to integrate manufacturing operations as a result of recent acquisition activities. In 2018, the Company recorded $1.6 million in severance and related costs in connection with the 2018 restructuring plan. The Company anticipates completing the 2018 restructuring program during the third quarter of 2019.
Restructuring Costs				$ 1,647
2018 Restructuring | Severance Costs
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs				1,600
2018 Restructuring | Vision
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs				$ 1,579
2016 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring plan				During the third quarter of 2015, the Company initiated the 2016 restructuring program, which included consolidating certain manufacturing operations to optimize facility footprint and better utilize resources, and reducing redundant costs due to productivity cost savings and business volume reductions. As of December 31, 2017, the Company incurred cumulative costs related to this restructuring plan totaling $6.5 million, net of the gain on the sale of the Chatsworth, California facility. The plan was completed in 2017.
Restructuring Costs					332	3,049
Cumulative restructuring costs					6,500
2016 Restructuring | Vision
Restructuring and Acquisition Related Costs [Line Items]
Restructuring Costs					331	1,862
2011 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring plan				In November 2011, the Company announced a strategic initiative (“2011 restructuring”) which aimed to consolidate operations to reduce the Company’s cost structure and improve operational efficiency. In total, eleven facilities have been exited as part of the 2011 restructuring plan. The Company substantially completed the 2011 restructuring program in 2013. In March 2016, the Company sold its previously exited Laser Systems facility located in Orlando, Florida for cash at the net carrying value of $3.5 million. In December 2016, the lease agreement for the Company’s previously exited laser scanner business facility was terminated, which resulted in a benefit of $0.2 million.
Restructuring Costs					$ 14	$ (79)
Number of facilities exited | Facility							11
2011 Restructuring | Orlando Facility
Restructuring and Acquisition Related Costs [Line Items]
Proceeds from the sale of property, plant and equipment		$ 3,500
2011 Restructuring | Laser Scanner
Restructuring and Acquisition Related Costs [Line Items]
Gain on termination of lease	$ 200

Summary of Restructuring Costs

Summary of Restructuring Costs for Each Segment and Unallocated Corporate Costs (Details) - USD ($) $ in Thousands	12 Months Ended			18 Months Ended	73 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	$ 2,025	$ 346	$ 2,970
2018 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	1,647
2018 Restructuring | Minimum
Restructuring Cost And Reserve [Line Items]
Expected Cumulative Costs	2,400
2018 Restructuring | Maximum
Restructuring Cost And Reserve [Line Items]
Expected Cumulative Costs	2,700
2018 Restructuring | Vision
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	1,579
2018 Restructuring | Vision | Minimum
Restructuring Cost And Reserve [Line Items]
Expected Cumulative Costs	2,300
2018 Restructuring | Vision | Maximum
Restructuring Cost And Reserve [Line Items]
Expected Cumulative Costs	2,600
2018 Restructuring | Unallocated Corporate and Shared Services
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	68
2018 Restructuring | Unallocated Corporate and Shared Services | Minimum
Restructuring Cost And Reserve [Line Items]
Expected Cumulative Costs	$ 100
2016 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		332	3,049
Cumulative Costs				$ 6,529
2016 Restructuring | Photonics
Restructuring Cost And Reserve [Line Items]
Restructuring Costs			813
Cumulative Costs				868
2016 Restructuring | Vision
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		331	1,862
Cumulative Costs				4,393
2016 Restructuring | Precision Motion
Restructuring Cost And Reserve [Line Items]
Restructuring Costs			106
Cumulative Costs				939
2016 Restructuring | Unallocated Corporate and Shared Services
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		1	268
Cumulative Costs				$ 329
2011 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		14	(79)
Cumulative Costs					$ 5,197
2011 Restructuring | Photonics
Restructuring Cost And Reserve [Line Items]
Restructuring Costs			(188)
Cumulative Costs					1,751
2011 Restructuring | Vision
Restructuring Cost And Reserve [Line Items]
Cumulative Costs					48
2011 Restructuring | Precision Motion
Restructuring Cost And Reserve [Line Items]
Cumulative Costs					122
2011 Restructuring | Unallocated Corporate and Shared Services
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		$ 14	$ 109
Cumulative Costs					$ 3,276

Summary of Accrual Activities b

Summary of Accrual Activities by Components Related to Company's Restructuring Charges (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance		$ 806	$ 1,736
Restructuring charges		2,025	346
Cash payments		(1,490)	(1,212)
Non-cash write-offs and other adjustments		(65)	(64)
Accrued expense ending balance		1,276	806
Severance
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance		39	611
Restructuring charges		1,862	185
Cash payments		(962)	(692)
Non-cash write-offs and other adjustments		(63)	(65)
Accrued expense ending balance		876	39
Facility
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance		763	1,111
Restructuring charges			146
Cash payments		(373)	(503)
Non-cash write-offs and other adjustments		(2)	9
Accrued expense ending balance		388	763
Other Restructuring Charges
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	[1]	4	14
Restructuring charges	[1]	163	15
Cash payments	[1]	(155)	(17)
Non-cash write-offs and other adjustments	[1]		(8)
Accrued expense ending balance	[1]	$ 12	$ 4
[1]	Other restructuring charges mainly related to consulting fees and relocation costs.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)Customer	Dec. 31, 2017USD ($)Customer	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Line Items]
Lease expense	$ 7.4	$ 5.5	$ 4.2
Purchase commitments	99
Purchase commitments, 2019	93.9
Purchase commitments, 2020	$ 5.1
Number of customers accounted for 10% or more of accounts receivable | Customer	0	0
Minimum
Commitments and Contingencies Disclosure [Line Items]
Lease agreement expiration year	2,019
Maximum
Commitments and Contingencies Disclosure [Line Items]
Lease agreement expiration year	2,031
Land | Maximum
Commitments and Contingencies Disclosure [Line Items]
Lease agreement expiration year	2,078

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Gross Assets under Capital Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Capital Leased Assets [Line Items]
Total gross assets under capital lease	$ 13,537	$ 13,562
Land, Buildings and Improvements
Capital Leased Assets [Line Items]
Total gross assets under capital lease	9,133	9,133
Machinery and Equipment
Capital Leased Assets [Line Items]
Total gross assets under capital lease	$ 4,404	$ 4,429

Future Minimum Lease Payments u

Future Minimum Lease Payments under Operating and Capital Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases
2,019	$ 7,797
2,020	6,263
2,021	5,757
2,022	5,264
2,023	4,719
Thereafter	26,149
Total minimum lease payments	55,949
Capital Leases
2,019	990	[1]
2,020	980	[1]
2,021	907	[1]
2,022	907	[1]
2,023	930	[1]
Thereafter	5,394	[1]
Total minimum lease payments	$ 10,108	[1]
[1]	Capital lease payments include interest payments of $2.3 million

Future Minimum Lease Payments_2

Future Minimum Lease Payments under Operating and Capital Leases (Parenthetical) (Details) $ in Millions	Dec. 31, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
Capital lease payments interest included in payment	$ 2.3

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Revenue	$ 614,337	$ 521,290	$ 384,758
Board of Directors
Related Party Transaction [Line Items]
Revenue	40,000
Receivables from customers	$ 600

Segment Information - Additiona

Segment Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018CustomerSegmentEndMarket	Dec. 31, 2017Customer	Dec. 31, 2016Customer
Segment Reporting [Abstract]
Number of reportable segments | Segment	3
Number of primary end market segments | EndMarket	2
Number of customers exceeded ten percentage of revenue | Customer	0	0	0

Revenue, Gross Profit and Opera

Revenue, Gross Profit and Operating Income (Loss) by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 614,337	$ 521,290	$ 384,758
Gross Profit	261,528	220,531	162,452
Operating Income (Loss)	71,013	57,566	32,955
Unallocated Corporate and Shared Services
Segment Reporting Information [Line Items]
Gross Profit	(2,256)	(1,399)	(1,469)
Operating Income (Loss)	(28,937)	(29,123)	(22,086)
Photonics
Segment Reporting Information [Line Items]
Revenue	249,339	232,359	174,158
Photonics | Operating Segments
Segment Reporting Information [Line Items]
Gross Profit	117,109	106,117	76,696
Operating Income (Loss)	59,285	51,660	35,217
Vision
Segment Reporting Information [Line Items]
Revenue	232,902	183,074	122,250
Vision | Operating Segments
Segment Reporting Information [Line Items]
Gross Profit	87,198	69,249	47,181
Operating Income (Loss)	8,991	7,883	(1,277)
Precision Motion
Segment Reporting Information [Line Items]
Revenue	132,096	105,857	88,350
Precision Motion | Operating Segments
Segment Reporting Information [Line Items]
Gross Profit	59,477	46,564	40,044
Operating Income (Loss)	$ 31,674	$ 27,146	$ 21,101

Depreciation and Amortization E

Depreciation and Amortization Expenses by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 37,052	$ 30,758	$ 20,973
Unallocated Corporate and Shared Services
Depreciation and Amortization Expenses
Depreciation and amortization expenses	726	1,054	1,394
Photonics | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	12,042	13,806	6,738
Vision | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	20,657	13,590	10,402
Precision Motion | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 3,627	$ 2,308	$ 2,439

Accounts Receivable and Invento

Accounts Receivable and Inventory by Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts Receivable
Total accounts receivable	$ 83,955	$ 81,482
Inventories
Total inventories	104,764	91,278
Total segment assets	188,719	172,760
Photonics
Accounts Receivable
Total accounts receivable	31,536	33,490
Inventories
Total inventories	41,623	44,451
Vision
Accounts Receivable
Total accounts receivable	34,414	36,089
Inventories
Total inventories	42,498	33,836
Precision Motion
Accounts Receivable
Total accounts receivable	18,005	11,903
Inventories
Total inventories	$ 20,643	$ 12,991

Total Assets by Reportable Segm

Total Assets by Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Total segment assets	$ 188,719	$ 172,760
Cash and cash equivalents	82,043	100,057	$ 68,108	$ 59,959
Prepaid income taxes and income taxes receivable	1,852	4,387
Prepaid expenses and other current assets	9,155	10,675
Property, plant and equipment, net	65,464	61,718
Deferred tax assets	9,492	7,052
Other assets	2,269	4,018
Intangible assets, net	142,920	155,048
Goodwill	217,662	210,988
Total assets	$ 719,576	$ 726,703

Schedule of Geographic Revenue

Schedule of Geographic Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 614,337	$ 521,290	$ 384,758
Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	100.00%	100.00%	100.00%
United States
Segment Reporting Information [Line Items]
Revenue	$ 242,243	$ 220,583	$ 154,756
United States | Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	39.40%	42.30%	40.20%
Germany
Segment Reporting Information [Line Items]
Revenue	$ 88,027	$ 68,003	$ 55,940
Germany | Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	14.30%	13.00%	14.50%
Rest of Europe
Segment Reporting Information [Line Items]
Revenue	$ 105,608	$ 81,001	$ 51,705
Rest of Europe | Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	17.20%	15.50%	13.40%
China
Segment Reporting Information [Line Items]
Revenue	$ 66,414	$ 56,128	$ 44,225
China | Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	10.80%	10.80%	11.50%
Rest of Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	$ 104,300	$ 84,727	$ 60,104
Rest of Asia-Pacific | Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	17.00%	16.30%	15.60%
Other Countries
Segment Reporting Information [Line Items]
Revenue	$ 7,745	$ 10,848	$ 18,028
Other Countries | Geographic Concentration Risk | Revenue from Contract with Customer
Segment Reporting Information [Line Items]
Percentage of Total	1.30%	2.10%	4.80%

Summary of Long-lived Assets (D

Summary of Long-lived Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	$ 65,464	$ 61,718
United States
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	32,029	29,920
Europe
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	31,696	30,621
China
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	1,636	1,127
Rest of Asia-Pacific
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	$ 103	$ 50

Schedule of Revenue by End Mark

Schedule of Revenue by End Market (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total revenue by end market	100.00%	100.00%	100.00%
Advanced Industrial
Segment Reporting Information [Line Items]
Total revenue by end market	50.00%	50.00%	60.00%
Medical
Segment Reporting Information [Line Items]
Total revenue by end market	50.00%	50.00%	40.00%