Novanta (NOVT) 10-K 1 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Feb. 21, 2022	Jul. 02, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Trading Symbol	NOVT
Entity Registrant Name	NOVANTA INC.
Entity Central Index Key	0001076930
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 4,835,362,420
Entity Common Stock, Shares Outstanding		35,628,671
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-35083
Entity Incorporation, State or Country Code	A3
Entity Tax Identification Number	98-0110412
Entity Address, Address Line One	125 Middlesex Turnpike
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Country	US
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	266-5700
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Auditor Name	PricewaterhouseCoopers LLC
Auditor Firm ID	238
Auditor Location	Boston, Massachusetts, United States
Title of 12(b) Security	Common shares, no par value
Security Exchange Name	NASDAQ
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for the Registrant’s Annual Meeting of Shareholders scheduled to be held on May 12, 2022 to be filed with the Securities and Exchange Commission are incorporated by reference in answers to Part III of this Annual Report on Form 10-K.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 117,393	$ 125,054
Accounts receivable, net of allowance of $556 and $274, respectively	115,617	75,054
Inventories	125,657	92,737
Prepaid income taxes and income taxes receivable	1,997	3,203
Prepaid expenses and other current assets	13,161	8,125
Total current assets	373,825	304,173
Property, plant and equipment, net	87,439	78,676
Operating lease assets	48,338	34,444
Deferred tax assets	12,206	10,491
Other assets	5,586	2,894
Intangible assets, net	220,989	148,521
Goodwill	479,500	285,980
Total assets	1,227,883	865,179
Current Liabilities
Current portion of long-term debt	5,097	5,508
Accounts payable	68,514	42,966
Income taxes payable	4,514	5,787
Current portion of operating lease liabilities	7,334	6,188
Accrued expenses and other current liabilities	98,479	53,780
Total current liabilities	183,938	114,229
Long-term debt	429,361	194,927
Operating lease liabilities	45,700	32,802
Deferred tax liabilities	33,738	24,134
Income taxes payable	4,217	5,112
Other liabilities	9,638	17,166
Total liabilities	706,592	388,370
Commitments and Contingencies (Note 17)
Stockholders’ Equity:
Preferred shares, no par value; Authorized shares: 7,000; No shares issued and outstanding
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,601 and 35,163, respectively	423,856	423,856
Additional paid-in capital	53,768	58,992
Retained earnings	56,533	6,202
Accumulated other comprehensive loss	(12,866)	(12,241)
Total stockholders’ equity	521,291	476,809
Total liabilities and stockholders’ equity	$ 1,227,883	$ 865,179

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$ 556	$ 274
Preferred shares, no par value	$ 0	$ 0
Preferred shares, Authorized	7,000,000	7,000,000
Preferred shares, Issued	0	0
Preferred shares, outstanding	0	0
Common shares, Authorized	Unlimited	Unlimited
Common shares, no par value	$ 0	$ 0
Common shares, Issued	35,601,000	35,163,000
Common shares, outstanding	35,601,000	35,163,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 706,793		$ 590,623		$ 626,099
Cost of revenue	406,465		346,106		364,014
Gross profit	300,328		244,517		262,085
Operating expenses:
Research and development and engineering	72,522		60,996		55,965
Selling, general and administrative	129,155		109,853		118,407
Amortization of purchased intangible assets	16,577		13,970		15,857
Restructuring, acquisition and related costs	18,020		3,810		16,574
Total operating expenses	236,274		188,629		206,803
Operating income	64,054		55,888		55,282
Interest income (expense), net	(7,387)		(6,564)		(8,493)
Foreign exchange transaction gains (losses), net	(127)		(942)		(780)
Other income (expense), net	(368)		21		(243)
Income before income taxes	56,172		48,403		45,766
Income tax provision	5,841		3,882		4,993
Consolidated net income	$ 50,331	[1]	$ 44,521	[2]	$ 40,773	[3]
Earnings per common share (Note 9):
Basic	$ 1.42	[1]	$ 1.27	[2]	$ 1.16	[3]
Diluted	$ 1.41	[1]	$ 1.25	[2]	$ 1.15	[3]
Weighted average common shares outstanding—basic	35,396	[1]	35,144	[2]	35,030	[3]
Weighted average common shares outstanding—diluted	35,781	[1]	35,654	[2]	35,546	[3]
[1]	For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021.
[2]	For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020.
[3]	For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Consolidated net income		$ 50,331	[1]	$ 44,521	[2]	$ 40,773	[3]
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	[4]	(3,457)		6,922		3,267
Pension liability adjustments, net of tax	[5]	2,832		(1,050)		1,147
Total other comprehensive income (loss)		(625)		5,872		4,414
Total consolidated comprehensive income		$ 49,706		$ 50,393		$ 45,187
[1]	For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021.
[2]	For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020.
[3]	For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.
[4]	The tax effect on this component of comprehensive income was nominal in 2021, 2020 and 2019.
[5]	The tax effect on this component of comprehensive income was $920, ($202) and $267

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Pension liability adjustments, tax effect on the component of comprehensive income	$ 920	$ (202)	$ 267

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Retained Earning (Deficit)	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2018	$ 368,255	$ 423,856	$ 46,018	$ (79,092)	$ (22,527)
Balance (in shares) at Dec. 31, 2018		34,886
Consolidated net income	40,773			40,773
Common shares issued for business combination	10,900		10,900
Common shares issued for business combination (in shares)		124
Common shares issued under stock plans	425		425
Common shares issued under stock plans (in shares)		247
Common shares withheld for taxes on vested stock awards	(6,935)		(6,935)
Common shares withheld for taxes on vested stock awards (in shares)		(86)
Repurchases of common shares	(10,000)		(10,000)
Repurchases of common shares (in shares)		(119)
Share-based compensation	9,340		9,340
Other comprehensive income (loss), net of tax	4,414				4,414
Balance at Dec. 31, 2019	417,172	$ 423,856	49,748	(38,319)	(18,113)
Balance (in shares) at Dec. 31, 2019		35,052
Consolidated net income	44,521			44,521
Common shares issued under stock plans	179		179
Common shares issued under stock plans (in shares)		270
Common shares withheld for taxes on vested stock awards	(8,554)		(8,554)
Common shares withheld for taxes on vested stock awards (in shares)		(94)
Repurchases of common shares	(5,500)		(5,500)
Repurchases of common shares (in shares)		(65)
Share-based compensation	23,119		23,119
Other comprehensive income (loss), net of tax	5,872				5,872
Balance at Dec. 31, 2020	476,809	$ 423,856	58,992	6,202	(12,241)
Balance (in shares) at Dec. 31, 2020		35,163
Consolidated net income	50,331			50,331
Common shares issued under stock plans (in shares)		660
Common shares withheld for taxes on vested stock awards	(30,830)		(30,830)
Common shares withheld for taxes on vested stock awards (in shares)		(222)
Share-based compensation	25,606		25,606
Other comprehensive income (loss), net of tax	(625)				(625)
Balance at Dec. 31, 2021	$ 521,291	$ 423,856	$ 53,768	$ 56,533	$ (12,866)
Balance (in shares) at Dec. 31, 2021		35,601

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Cash flows from operating activities:
Consolidated net income	$ 50,331	[1]	$ 44,521	[2]	$ 40,773	[3]
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	43,394		38,293		38,280
Provision for inventory excess and obsolescence	3,627		4,002		3,188
Share-based compensation	25,606		23,119		9,340
Deferred income taxes	(3,945)		(4,113)		(4,332)
Loss (gain) on disposal of fixed assets	65		120		756
Contingent consideration adjustments	(99)		(6,632)		100
Inventory acquisition fair value adjustments	1,411		188		1,270
Non-cash interest expense	1,170		1,045		1,055
Other non-cash items	74		157		259
Changes in assets and liabilities which provided/(used) cash, excluding effects from business acquisitions:
Accounts receivable	(25,355)		18,026		(3,600)
Inventories	(19,078)		22,102		(7,397)
Prepaid expenses and other current assets	(3,117)		4,456		(1,526)
Prepaid income taxes, income taxes receivable and income taxes payable	(140)		6,015		(4,966)
Accounts payable, accrued expenses and other current liabilities	24,516		(14,484)		(14,800)
Other non-current assets and liabilities	(3,835)		3,424		4,848
Cash provided by operating activities	94,625		140,239		63,248
Cash flows from investing activities:
Purchases of property, plant and equipment	(19,976)		(10,524)		(10,743)
Acquisition of businesses, net of cash acquired and working capital adjustments	(284,728)				(53,143)
Payment of contingent consideration related to acquisition of technology assets	(2,200)		(2,632)
Proceeds from sale of property, plant and equipment	200				42
Cash used in investing activities	(306,704)		(13,156)		(63,844)
Cash flows from financing activities:
Borrowings under revolving credit facilities	280,000				66,792
Repayments under term loan and revolving credit facilities	(32,381)		(35,391)		(50,694)
Payments of debt issuance costs	(890)		(1,614)		(2,655)
Payments of withholding taxes from share-based awards	(30,830)		(8,554)		(6,935)
Payments of deferred and escrowed purchase price related to acquisitions			(31,021)
Payments of contingent considerations related to acquisitions	(1,836)		(1,135)
Repurchases of common shares			(5,500)		(10,000)
Purchase of building under finance lease	(8,743)
Other financing activities	(567)		(1,142)		(443)
Cash provided by (used in) financing activities	204,753		(84,357)		(3,935)
Effect of exchange rates on cash and cash equivalents	(335)		3,384		1,432
Increase (decrease) in cash and cash equivalents	(7,661)		46,110		(3,099)
Cash and cash equivalents, beginning of year	125,054		78,944		82,043
Cash and cash equivalents, end of year	117,393		125,054		78,944
Supplemental disclosure of cash flow information:
Cash paid for interest	6,207		5,529		8,389
Cash paid for income taxes	11,304		5,879		14,260
Income tax refunds received	1,557		4,833		767
Supplemental disclosure of non-cash investing activity:
Accruals for capital expenditures	$ 708		$ 166		$ 638
[1]	For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021.
[2]	For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020.
[3]	For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
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 such revisions are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions, including estimated economic implications of the COVID-19 pandemic, and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from these 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 Credit Losses 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. The Company is exposed to credit losses primarily through sales of its products. The Company assesses each customer’s ability to pay by conducting a credit review which includes consideration of established credit rating or an internal assessment of the customer’s creditworthiness based on an analysis of their payment history when a credit rating is not available. The Company monitors its credit exposure through active review of customer balances. The Company’s expected loss methodology for accounts receivable is developed through consideration of factors including, but not limit to, historical collection experience, current customer credit ratings, current customer financial condition, current and future economic and market condition, and age of the receivables. Charges related to credit losses 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, 2021, 2020 and 2019, changes in the allowance for doubtful accounts were as follows (in thousands): 2021 2020 2019 Balance at beginning of year $ 274 $ 297 $ 321 Addition to credit loss expense 121 158 33 Credit loss resulting from acquisitions 216 — 120 Write-offs, net of recoveries of amounts previously reserved (45 ) (207 ) (179 ) Exchange rate changes (10 ) 26 2 Balance at end of year $ 556 $ 274 $ 297 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 and duties, 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, storage, 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 10 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. 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 revenue growth rates, customer attrition rates, royalty rates, discount rates and projected future cash flows. 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 typically 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 the reportable segments. Impairment Charges Impairment analyses of goodwill and indefinite-lived intangible assets are conducted in accordance with ASC 350, “Intangibles —Goodwill and Other.” 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 instead. This approach requires a comparison of the carrying value of each reporting unit to its estimated fair value. 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 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 and estimated royalty rates. 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 carrying value of the asset group 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. Leases The Company leases certain equipment and facilities. The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets are included in operating lease assets on the consolidated balance sheet. Operating lease liabilities are included in current portion of operating lease liabilities and operating lease liabilities on the consolidated balance sheet based on the timing of future lease payments. Finance lease assets are included in property, plant and equipment. Finance lease liabilities are included in accrued expenses and other current liabilities and other liabilities on the consolidated balance sheet based on the timing of future lease payments. Leases with an initial term of twelve months or less are not recognized on the balance sheet. The Company recognizes lease expense on a straight-line basis over the lease term. Many of the Company’s lease arrangements include both lease (e.g., fixed payments including rent) and non-lease components (e.g., common-area maintenance or other property management costs). The Company accounts for lease and non-lease components separately. Most leases held by the Company do not provide an implicit rate. The Company uses its incremental borrowing rate for the same jurisdiction and term as the associated lease based on the information available at the lease commencement date to determine the present value of future lease payments. Upon adoption of ASC 842, “Leases”, the Company used the incremental borrowing rate as of January 1, 2019 for operating leases that commenced prior to that date. The Company has a centrally managed treasury function; therefore, the Company applies a portfolio approach for determining the incremental borrowing rate based on the applicable lease terms and the current economic environment. 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 expenses 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 respective vesting periods, net of estimated forfeitures. The Company also grants three 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”), operating cash flow performance-based restricted stock units (“OCF-PSUs”), and relative total shareholder return performance-based restricted stock units (“TSR-PSUs”). Share-based compensation expenses associated with EPS-PSUs and OCF-PSUs are recognized ratably over their vesting periods 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 as well as the estimated levels of achievement. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be recorded in the period such determination is made. Accordingly, share-based compensation expenses associated with EPS-PSUs and OCF-PSUs may differ significantly from period to period based on changes to both the probability and the level of achievement against performance targets. Share-based compensation expenses associated with TSR-PSUs are based on the grant-date fair value, determined using the Monte-Carlo valuation model, and are recognized on a straight-line basis from the grant date to the end of the performance period. Compensation expenses associated with TSR-PSUs will not be affected by the number of common shares that will ultimately be issued upon vesting 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 2021, 2020 and 2019. Restructuring, Acquisition and 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, useful lives and residual value of long-lived assets, 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. 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 if any existing 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. Consequently, 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 to fluctuations in foreign currency exchange rates 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 foreign currency 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 The following table provides a brief description of recent Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”): Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles of ASC 740, “Income Taxes”, including: (i) the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (ii) the exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment (or vice-versa); and (iii) the exception for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies GAAP for other areas of ASC 740 by clarifying and amending the existing guidance. January 1, 2021. The Company adopted ASU 2019-12 during the first quarter of 2021. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference rate reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting.” ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. Upon issuance. ASU 2020-04 is elective. The Company does not expect the impact of ASU 2020-04 to be material to its consolidated financial statements. Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” ASU 2021-08 requires that entities recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC 606, “Revenue from Contracts with Customers”. ASU 2021-08 also applies to contract assets or liabilities from other contracts to which the provisions of ASC 606 apply. The amendments in ASU 2021-08 do not affect the accounting for other assets or liabilities that may arise from revenue contracts with customers in accordance with ASC 606, such as refund liabilities, or in a business combination, such as customer-related intangible assets and contract-based intangible assets. January 1, 2023. Early adoption is permitted. The Company is evaluating the impact of the adoption of ASU 2021-08 on its consolidated financial statements.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue The Company accounts for its revenue transactions in accordance with ASC 606, “Revenue from Contracts with Customers,” which requires entities to recognize revenue in a way that depicts the transfer of control over 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. The Company recognizes revenue when control of promised goods or services is transferred to the customer. 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 36 months. 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 warranty cost is recorded in 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 time period between the transfer of a promised good to a customer and the customer’s payment for that good is 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, 2021 and December 31, 2020, contract liabilities were $7.3 million and $6.5 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The increase in the contract liability balance during the year ended December 31, 2021 is primarily due to cash payments received in advance of satisfying performance obligations and acquired contract liabilities of $2.0 million from current year acquisitions, partially offset by $5.6 million of revenue recognized during the year that was included in the contract liability balance at December 31, 2020. Disaggregated Revenue See Note 18 for the Company’s disaggregation of revenue by segment, geography and end market.

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Business Combinations	4. Business Combinations 2021 Acquisitions On August 30, 2021, the Company acquired 100% of the outstanding shares of ATI Industrial Automation, Inc. (“ATI”), an Apex, North Carolina-based leading supplier of intelligent end-of-arm technology solutions to OEMs for advanced industrial and surgical robots for an initial cash purchase price of $169.2 million, net of cash acquired and estimated working capital adjustments, and $44.0 million estimated fair value of contingent consideration. The contingent consideration will be payable in 2022 based on a multiple of the standalone ATI Adjusted EBITDA, as defined in the purchase and sale agreement, for the fiscal year ended December 31, 2021. The initial cash purchase price was financed with borrowings under the Company’s revolving credit facility and cash available on hand. The Company expects that the addition of ATI will complement and add intelligent technology solutions to further expand the Company’s position in mission critical robotic applications within the Precision Motion reportable segment. On August 31, 2021, the Company acquired 100% of the outstanding shares of Schneider Electric Motion USA, Inc. (“SEM”), a Marlborough, Connecticut-based manufacturer of integrated motion control solutions and electronic controls for automation equipment for a total purchase price of $114.7 million, net of cash acquired and working capital adjustments. The acquisition was financed with borrowings under the Company’s revolving credit facility. The Company expects that the addition of SEM will complement and expand the Company’s presence in life science applications and solutions for industrial automation applications within the Precision Motion reportable segment. Allocation of Purchase Price The acquisitions of ATI and SEM have been accounted for as business combinations. The purchase price for each acquisition is allocated based upon a valuation of the fair values of assets acquired and liabilities assumed. Assets acquired and liabilities assumed have been recorded at their estimated fair values as of the acquisition dates. The fair values of intangible assets were based on valuations using an income approach, specifically the multi-period excess earnings method for customer relationships and the relief-from-royalty method for developed technologies, trademarks and trade names. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including revenue growth rates, customer attrition rates, royalty rates, discount rates, technology obsolescence curves, and EBITDA margins. ATI Based upon a preliminary valuation, the total purchase price, including measurement period adjustments, for ATI was allocated as follows (in thousands): Purchase Allocation Cash $ 10,709 Accounts receivable 12,596 Inventories 18,151 Property, plant and equipment 4,618 Operating lease assets 11,263 Intangible assets 52,800 Goodwill 134,420 Other assets 229 Total assets acquired 244,786 Accounts payable 5,135 Current portion of operating lease liabilities 1,740 Operating lease liabilities 9,525 Other liabilities 4,452 Total liabilities assumed 20,852 Total assets acquired, net of liabilities assumed 223,934 Less: cash acquired 10,709 Less: contingent consideration 44,000 Initial purchase price, net of cash acquired $ 169,225 Subsequent to the preliminary valuation, additional information that existed as of the acquisition date became available that resulted in adjustments to certain inputs used for the determination of estimated fair value of the contingent consideration. These changes resulted in a $7.9 million decrease to the liability and a $0.4 million increase to identifiable intangible assets. Adjustments to the preliminary purchase price allocation resulted in a decrease to goodwill of $8.3 million. As of December 31, 2021, the working capital adjustments had not been finalized and were estimated to be a cash receipt of $0.8 million. The purchase price allocation is preliminary as the Company is in the process of collecting additional information for the valuation of inventories, other liabilities, contingent consideration and unrecognized tax benefits. The fair value of intangible assets for ATI is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 19,800 15 years Customer relationships 23,900 15 years Trademarks and trade names 5,600 15 years Backlog 3,500 1 year Total $ 52,800 The purchase price allocation resulted in $52.8 million of identifiable intangible assets and $134.4 million of goodwill. Goodwill amounting to $134.4 million is expected to be deductible for U.S. income 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) ATI’s ability to grow the business with existing and new customers, including leveraging the Company’s customer base; (ii) ATI’s ability to grow the business through new product introductions; and (iii) cost improvements due to the integration of ATI’s operations into the Company’s existing infrastructure. The operating results of ATI were included in the Company’s results of operations beginning on August 31, 2021. ATI contributed revenues of $34.0 million and a profit before income taxes of $3.4 million to the Company’s operating results for the year ended December 31, 2021. ATI’s profit before income taxes for the period from the acquisition date through December 31, 2021 included amortization of inventory fair value adjustments and amortization of purchased intangible assets of $3.5 million. SEM Based upon a preliminary valuation, the total purchase price for SEM was allocated as follows (in thousands): Purchase Allocation Cash $ 3,881 Accounts receivable 4,240 Inventories 2,499 Property, plant and equipment 452 Intangible assets 54,570 Goodwill 68,291 Other assets 776 Total assets acquired 134,709 Accounts payable 1,325 Deferred tax liabilities 12,400 Other liabilities 2,420 Total liabilities assumed 16,145 Total assets acquired, net of liabilities assumed 118,564 Less: cash acquired 3,881 Total purchase price, net of cash acquired $ 114,683 The purchase price allocation is preliminary as the Company is in the process of collecting additional information for the valuation of other liabilities and unrecognized tax benefits. The fair value of intangible assets for SEM is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 9,110 15 years Customer relationships 41,740 20 years Trademarks and trade names 370 4 years Backlog 3,350 1 year Total $ 54,570 The purchase price allocation resulted in $54.6 million of identifiable intangible assets and $68.3 million of goodwill. As the SEM acquisition was structured as a stock acquisition for income tax purposes, the goodwill is not expected to be deductible for income 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) SEM’s ability to grow the business with existing and new customers, including leveraging the Company’s customer base; (ii) SEM’s ability to grow the business through new product introductions; and (iii) cost improvements due to the integration of SEM’s operations into the Company’s existing infrastructure. The operating results of SEM were included in the Company’s results of operations beginning on September 1, 2021. SEM contributed revenues of $9.1 million and a profit before income taxes of $0.3 million to the Company’s operating results for the year ended December 31, 2021. SEM’s profit before income taxes for the period from the acquisition date through December 31, 2021 included amortization of inventory fair value adjustments and amortization of purchased intangible assets of $1.8 million. Unaudited Pro Forma Information The pro forma information presented below includes the effects of business combination accounting resulting from the acquisitions of ATI and SEM, including amortization of inventory fair value adjustments, amortization of intangible assets, interest expense on borrowings in connection with the acquisitions, acquisition costs, and the related tax effects, assuming that the acquisitions had been consummated as of January 1, 2020. The 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, 2020. Year Ended December 31, 2021 2020 Revenue $ 783,011 $ 682,626 Consolidated net income $ 52,420 $ 33,376 2019 Acquisitions On July 31, 2019, the Company acquired 100% of the outstanding shares of ARGES GmbH (“ARGES”), a Wackersdorf, Germany-based manufacturer of innovative laser scanning subsystems used in industrial materials processing and medical applications, for a total purchase price of €65.7 million ($73.2 million), including net working capital adjustments. The purchase price consists of €24.0 million ($26.7 million) cash paid at closing, 124 thousand Novanta common shares issued at closing (with a fair market value of €9.8 million, or $10.9 million, based on the closing market price of $87.58 per share on July 30, 2019), €7.1 million ($7.9 million) estimated fair value of contingent consideration and €24.8 million ($27.7 million) deferred cash consideration. The initial cash purchase price was financed with borrowings under the Company’s revolving credit facility. The contingent consideration would be payable annually based on actual revenue achievement against certain revenue targets from August 2019 through December 2026, with the first payment due in the first quarter of 2021. The undiscounted range of contingent consideration is zero to €10.0 million. In 2020, the Company paid €25.0 million to the former owner of ARGES for the deferred cash consideration and to settle working capital. The addition of ARGES complements and expands the Company’s existing portfolio of lasers and laser beam steering solutions capabilities within the Photonics reportable segment. On June 5, 2019, the Company acquired 100% of the outstanding stock of Med X Change, Inc. (“Med X Change”), a Bradenton, Florida-based provider of medical grade, high definition and 4K video recording and documentation solutions to OEMs in the medical market. The purchase price of $ 21.9 million, net of working capital adjustments, was financed with cash on hand and a $ 21.0 million borrowing under the Company’s revolving credit facility. The addition of Med X Change complements and broadens the range of technology capabilities within the Company’s Vision reportable segment by providing its medical OEM customers with more integrated operating room solutions. On April 16, 2019, the Company acquired 100% of the outstanding stock of Ingenia-CAT, S.L. (“Ingenia”), a Barcelona, Spain-based provider of high-performance servo drives and control software to OEMs in the medical and advanced industrial markets, for a total purchase price of €14.3 million ($16.2 million), net of working capital adjustments. The purchase price consists of €8.5 million ($9.6 million) cash consideration and €5.8 million ($6.6 million) estimated fair value of contingent consideration. The initial cash purchase price was financed with cash on hand and borrowings under the Company’s revolving credit facility. The contingent consideration would be payable annually based on actual revenue achievement against certain revenue targets from April 2019 through March 2022, with the first payment due in the second quarter of 2020. The undiscounted range of contingent consideration is zero to €8.0 million. The Ingenia purchase and sale agreement required €0.8 million ($0.9 million) of the purchase price to be held back by the Company for indemnification of certain representations and warranties claims by the Company until the expiration of the holdback agreement in October 2020. The Company released the indemnification holdback in the fourth quarter of 2020. The addition of Ingenia enhances the Company’s strategic position in precision motion control industry by enabling it to offer a broader range of motion control technologies and integrated solutions. Ingenia is included in the Company’s Precision Motion reportable segment. The acquisitions of ARGES, Med X Change and Ingenia have been accounted for as business combinations. Purchase price allocation 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 dates. The fair values of intangible assets were based on valuation techniques with estimates and assumptions developed by management. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including revenue growth rates, customer attrition rates, royalty rates, discount rates and projected future cash flows. The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. ARGES The final purchase price for ARGES was allocated as follows (in thousands): Amount Cash $ 3,159 Accounts receivable 1,430 Inventories 7,129 Property, plant and equipment 14,095 Intangible assets 24,713 Goodwill 42,951 Other assets 2,244 Total assets acquired 95,721 Accounts payable 2,598 Deferred tax liabilities 5,510 Other liabilities 14,462 Total liabilities assumed 22,570 Total assets acquired, net of liabilities assumed 73,151 Less: cash acquired 3,159 Total purchase price, net of cash acquired 69,992 Less: contingent consideration 7,870 Less: issuance of common shares 10,900 Less: deferred cash consideration 27,664 Initial cash purchase price, net of cash acquired $ 23,558 The fair value of intangible assets for ARGES is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 11,355 15 years Customer relationships 11,800 15 years Trademarks and trade names 1,225 10 years Backlog 333 5 months Total $ 24,713 Customer relationships and backlog for ARGES were valued using the multi-period excess earnings method. Developed technology and trademarks and trade names for ARGES were valued using the relief-from-royalty method. The purchase price allocation resulted in $24.7 million of identifiable intangible assets and $43.0 million of goodwill. As the ARGES acquisition was an acquisition of outstanding common shares, none of the resulting goodwill is deductible for income 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) expected future benefits from advancing the Company’s photonic-based product roadmap through the addition of R&D capabilities from ARGES; (ii) ARGES’s ability to grow the business with existing and new customers, including leveraging the Company’s customer base; (iii) ARGES’s ability to grow the business through new product introductions; and (iv) cost improvements due to the integration of ARGES’s operations into the Company’s existing infrastructure. The operating results of ARGES were included in the Company’s results of operations beginning on July 31, 2019. ARGES contributed revenues of $4.9 million and a loss before income taxes of $3.5 million for the year ended December 31, 2019. Loss before income taxes for the year ended December 31, 2019 included amortization of inventory fair value adjustments and purchased intangible assets of $2.2 million. Med X Change and Ingenia The final purchase price allocation for Med X Change and Ingenia is as follows (in thousands): Amount Cash $ 1,000 Accounts receivable 1,739 Inventories 2,372 Property, plant and equipment 496 Intangible assets 22,376 Goodwill 13,388 Other assets 601 Total assets acquired 41,972 Accounts payable 604 Deferred tax liabilities 2,399 Other liabilities 910 Total liabilities assumed 3,913 Total assets acquired, net of liabilities assumed 38,059 Less: cash acquired 1,000 Total purchase price, net of cash acquired 37,059 Less: contingent consideration 6,569 Less: purchase price holdback 905 Net cash used for acquisition of businesses $ 29,585 The fair value of intangible assets for Med X Change and Ingenia is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Value Amortization Med X Change Ingenia Period Developed technologies $ 1,800 $ 9,272 10 years Customer relationships 9,900 565 15 years Trademarks and trade names 300 339 9 years Backlog 200 — 7 months Total $ 12,200 $ 10,176 Customer relationships and backlog for both Med X Change and Ingenia were valued using the multi-period excess earnings method. Developed technology for Med X Change and Ingenia were valued using the relief from royalty and multi-period excess earnings methods, respectively. Trademarks and trade names for both Med X Change and Ingenia were valued using the relief-from-royalty method. The Company recorded an aggregate fair value of $22.4 million of identifiable intangible assets from the Med X Change and Ingenia acquisitions. 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 Company recorded $13.4 million of goodwill from these acquisitions. Goodwill amounting to $6.2 million from the Med X Change acquisition is expected to be fully deductible for income tax purposes. Goodwill amounting to $7.2 million from the Ingenia acquisition is not expected to be deductible for income tax purposes. The goodwill recorded represents the anticipated incremental value of future cash flows potentially attributable to: (i) the ability of Med X Change and Ingenia to grow the business with existing and new customers, including leveraging the Company’s customer base; (ii) their ability to grow the businesses through new product introductions; and (iii) cost improvements due to the integration of Med X Change and Ingenia operations into the Company’s existing infrastructure. The operating results of Med X Change and Ingenia were included in the Company’s results of operations beginning on the respective acquisition dates. These acquisitions contributed revenues of $7.9 million and an income before income taxes of $0.6 million for the year ended December 31, 2019. Income before income taxes for the year ended December 31, 2019 included amortization of inventory fair value adjustments and purchased intangible assets of $1.5 million. Acquisition Costs The Company recognized acquisition costs of $5.0 million, zero and $1.6 million in the years ended December 31, 2021, 2020 and 2019, respectively, related to the acquisitions that occurred during these years. These costs consisted of finders’ fees, legal, valuation and other professional or consulting fees. These amounts were included in restructuring and acquisition related costs in the consolidated statements of operations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	5. Accumulated Other Comprehensive Loss Other comprehensive income (loss) is defined as other changes in stockholders’ equity that do not represent transactions with stockholders or in the Company’s stock. Changes in accumulated other comprehensive loss were as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Income (Loss) Adjustments Adjustments Balance at December 31, 2018 $ (22,527 ) $ (12,485 ) $ (10,042 ) Other comprehensive income (loss) 3,428 3,267 161 Amounts reclassified from accumulated other comprehensive loss (1) 986 — 986 Balance at December 31, 2019 (18,113 ) (9,218 ) (8,895 ) Other comprehensive income (loss) 5,157 6,922 (1,765 ) Amounts reclassified from accumulated other comprehensive loss (1) 715 — 715 Balance at December 31, 2020 (12,241 ) (2,296 ) (9,945 ) Other comprehensive income (loss) (1,584 ) (3,457 ) 1,873 Amounts reclassified from accumulated other comprehensive loss (1) 959 — 959 Balance at December 31, 2021 $ (12,866 ) $ (5,753 ) $ (7,113 ) (1) The amounts reclassified from accumulated other comprehensive 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, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, Intangible Assets and Impairment Charges	6. Goodwill, Intangible Assets and Impairment Charges Goodwill The following table summarizes changes in goodwill during the year ended December 31, 2021 (in thousands): December 31, 2021 Balance at beginning of year $ 285,980 Goodwill from current year acquisitions 202,711 Effect of foreign exchange rate changes (9,191 ) Balance at end of year $ 479,500 Goodwill by reportable segment as of December 31, 2021 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 214,564 $ 160,675 $ 255,490 $ 630,729 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 112,103 $ 128,953 $ 238,444 $ 479,500 Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 218,517 $ 165,195 $ 53,497 $ 437,209 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 116,056 $ 133,473 $ 36,451 $ 285,980 Intangible Assets Intangible assets as of December 31, 2021 and 2020, respectively, are summarized as follows (dollar amounts in thousands): December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 189,609 $ (122,130 ) $ 67,479 10.7 Customer relationships 228,656 (104,386 ) 124,270 15.5 Customer backlog 6,862 (2,254 ) 4,608 0.7 Trademarks and trade names 23,976 (12,371 ) 11,605 10.5 Amortizable intangible assets 449,103 (241,141 ) 207,962 13.3 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 462,130 $ (241,141 ) $ 220,989 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 164,430 $ (110,572 ) $ 53,858 8.8 Customer relationships 167,429 (92,892 ) 74,537 10.9 Trademarks and trade names 18,367 (11,268 ) 7,099 7.8 Amortizable intangible assets 350,226 (214,732 ) 135,494 9.9 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 363,253 $ (214,732 ) $ 148,521 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 was as follows (in thousands): Year Ended December 31, 2021 2020 2019 Amortization expense – cost of revenue $ 13,288 $ 11,123 $ 10,588 Amortization expense – operating expenses 16,577 13,970 15,857 Total amortization expense $ 29,865 $ 25,093 $ 26,445 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 2022 $ 13,749 $ 27,071 $ 40,820 2023 12,451 20,935 33,386 2024 10,100 17,575 27,675 2025 8,529 14,867 23,396 2026 7,108 12,659 19,767 Thereafter 15,542 47,376 62,918 Total $ 67,479 $ 140,483 $ 207,962 Impairment Charges The Company did not have any goodwill or indefinite-lived intangible asset impairment charges during 2021, 2020 or 2019.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. 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 Current Assets and Liabilities 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 equivalents, 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 Considerations On August 30, 2021, the Company acquired ATI. Under the purchase and sale agreement for the ATI acquisition, the former shareholders of ATI are eligible to receive contingent consideration based on ATI’s fiscal year 2021 Adjusted EBITDA, as defined in the purchase and sale agreement. The contingent consideration will be payable in 2022. The preliminary fair value of the contingent consideration On July 31, 2019, the Company acquired ARGES. Under the purchase and sale agreement for the ARGES acquisition, the former owner of ARGES is eligible to receive contingent consideration based on the achievement of certain revenue targets by the Company from August 2019 through December 2026. The undiscounted range of possible contingent consideration is zero to €10.0 million ($11.1 million). If the revenue targets are achieved, the contingent consideration would be payable annually with the first payment due in the first quarter of 2021. The estimated fair value of the contingent consideration of €7.1 million ($7.9 million) was determined based on the Monte Carlo valuation method and was recorded as part of the purchase price as of the acquisition date. Subsequent changes in the estimated fair value of the contingent consideration liability are recorded in the consolidated statement of operations in restructuring, acquisition, and related costs until the liability is fully settled. During 2020, the fair value of the contingent consideration was adjusted to €4.1 million ($5.1 million). In March 2021, the Company made the first installment payment of €0.4 million ($0.4 million), which is included in cash flows from financing activities in the consolidated statement of cash flows for the year ended December 31, 2021. During 2021, the fair value of the contingent consideration was adjusted to €3.3 million ($3.8 million). There were no other changes in the fair value of the contingent consideration during the year ended December 31, 2021. On April 16, 2019, the Company acquired Ingenia. Under the purchase and sale agreement for the Ingenia acquisition, the shareholders of Ingenia are eligible to receive contingent consideration based on the achievement of certain revenue targets by the Company from April 2019 through March 2022. The undiscounted range of possible contingent consideration is zero to €8.0 million ($9.0 million). If the revenue targets are achieved, the contingent consideration would be payable in cash in three annual installments from 2020 to 2022. The estimated fair value of the contingent consideration of € 5.8 million ($ 6.6 million) was determined based on the Monte Carlo valuation method and was recorded as part of the purchase price as of the acquisition date. Subsequent changes in the estimated fair value of the contingent consideration liability are recorded in the consolidated statement of operations in restructuring, acquisition, and related costs until the liability is fully settled. The Company made the first installment payment of € 1.0 million ($ 1.1 million) in May 2020 and the second installment payment of € 1.2 million ($ 1.4 million) in May 2021. These installment payments are reported as cash outflows from financing activities in the consolidated statement of cash flows for the respective periods. During 2020 , the fair value of the contingent consideration was adjusted to € 2.3 million ($ 2.9 million). During 2021, the fair value of the contingent consideration was adjusted to € 1.5 million ($ 1.7 million). 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 former owners are eligible to receive contingent consideration based on the achievement of certain revenue targets by the Company from 2018 to 2021 from products utilizing the acquired technologies. The undiscounted range of possible contingent consideration is zero to €5.5 million ($6.6 million). If the revenue 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 assets acquired and amortized over the remaining useful life of the underlying assets. The Company made the first installment payment of €2.4 million ($2.6 million) in February 2020 and the second installment payment of €1.8 million ($2.2 million) in February 2021. These installment payments are reported as cash flows from investing activities in the consolidated statement of cash flows for the respective periods. As of December 31, 2021, the Company recorded a current liability of €1.2 million ($1.4 million) for the third and last installment payment, which is expected to be paid in March 2022. 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, 2021 (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 $ 1,711 $ 1,711 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 137 — 137 — $ 1,848 $ 1,711 $ 137 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 47,522 $ — $ — $ 47,522 Foreign currency forward contracts 160 — 160 — Other liabilities: Contingent considerations - Long-term 3,402 — — 3,402 $ 51,084 $ — $ 160 $ 50,924 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, 2020 (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 $ 11,047 $ 11,047 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 27 — 27 — $ 11,074 $ 11,047 $ 27 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 4,280 $ — $ — $ 4,280 Foreign currency forward contracts — — — — Other liabilities: Contingent considerations - Long-term 7,276 — — 7,276 $ 11,556 $ — $ — $ 11,556 During the years ended December 31, 2021 and 2020, there were no transfers between fair value levels. Changes in the fair value of Level 3 contingent considerations for the year ended December 31, 2021 were as follows (in thousands): Contingent Considerations Balance at December 31, 2020 $ 11,556 Acquisition of ATI 44,000 Fair value adjustments (99 ) Payments (4,036 ) Effect of foreign exchange rates (497 ) Balance at December 31, 2021 $ 50,924 The following table provides qualitative information associated with the fair value measurement of the Company’s Level 3 liabilities: Liability December 31, 2021 Fair Value (in thousands) Valuation Technique Unobservable Inputs Percentage Applied Contingent consideration (ATI) $44,000 Monte Carlo method Historical and projected Adjusted EBITDA for the full year 2021 N/A EBITDA risk premium 7.2% EBITDA volatility 27.0% Credit spread 2.1% Contingent consideration (ARGES) $3,789 Monte Carlo method Historical and projected revenues from July 2019 through December 2026 N/A Revenue volatility 14.0% Cost of debt 3.0% Discount rate 1.9% Contingent consideration (Ingenia) $1,736 Monte Carlo method Historical and projected revenues from April 2019 through March 2022 N/A Revenue volatility 38.5% Cost of debt 3.1% Discount rate 9.6% Contingent consideration (Other) $1,399 Discounted cash flow method Historical and projected revenues for fiscal years 2018 to 2021 N/A Discount rate 22.8% See Note 11 for a discussion of the estimated fair value of the Company’s outstanding debt and Note 14 for a discussion of the estimated fair value of the Company’s pension plan assets.

Foreign Currency Contracts

Foreign Currency Contracts	12 Months Ended
	Dec. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Foreign Currency Contracts	8. 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. As of December 31, 2021, the notional amount and fair value of the Company’s foreign currency forward contracts was $50.0 million and a net loss of less than $0.1 million, respectively. As of December 31, 2020, the notional amount and fair value of the Company’s foreign currency forward contracts was $28.5 million and a net gain of less than $0.1 million, respectively. For the years ended December 31, 2021, 2020 and 2019, the Company recognized aggregate net gains of $1.3 million, $1.3 million and $0.8 million, respectively, from the settlement of foreign currency forward contracts, 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, 2021
Earnings Per Share [Abstract]
Earnings per Common Share	9. Earnings per Common Share Basic earnings per common share is computed by dividing consolidated net income by the weighted average number of common shares outstanding during the year. For diluted earnings per common share, the denominator includes the dilutive effect s of outstanding restricted stock units and stock options, determined using the treasury stock method . 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 assuming the end of the reporting period is also the end of the performance period . The d ilutive effects of attainment-based contingently issuable shares granted to the former Laser Quantum Limited noncontrolling interest shareholders and non-GAAP EPS performance-based restricted stock units and cumulative operating cash flow performance-based restricted stock units granted to certain members of the executive management team are included in the weighted average dilutive share calculation only when the performance targets have been achieved based on the cumulative achievement against the performance targets as of the end of each reporting period . The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share amounts): Year Ended December 31, 2021 (1) 2020 (2) 2019 (3) Numerators: Consolidated net income $ 50,331 $ 44,521 $ 40,773 Denominators: Weighted average common shares outstanding— basic 35,396 35,144 35,030 Dilutive potential common shares 385 510 516 Weighted average common shares outstanding— diluted 35,781 35,654 35,546 Antidilutive potential common shares excluded from above 13 13 41 Earnings per Common Share: Basic $ 1.42 $ 1.27 $ 1.16 Diluted $ 1.41 $ 1.25 $ 1.15 (1) For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021. (2) For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020. (3) For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplementary Balance Sheet Information	10. 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, 2021 2020 Raw materials $ 84,038 $ 55,657 Work-in-process 20,600 15,487 Finished goods 19,486 20,234 Demo and consigned inventory 1,533 1,359 Total inventories $ 125,657 $ 92,737 Property, Plant and Equipment, Net December 31, 2021 2020 Cost: Land, buildings and improvements $ 78,906 $ 71,341 Machinery and equipment 98,687 93,494 Total cost 177,593 164,835 Accumulated depreciation (90,154 ) (86,159 ) Property, plant and equipment, net $ 87,439 $ 78,676 The following table summarizes depreciation expense on property, plant and equipment, including demo units and assets under finance leases (in thousands): Year Ended December 31, 2021 2020 2019 Depreciation expense $ 13,529 $ 13,200 $ 11,835 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, 2021 2020 Accrued compensation and benefits $ 24,725 $ 12,510 Accrued contingent considerations and earn-outs 47,522 10,796 Finance lease obligations 599 9,720 Contract liabilities, current portion 6,995 6,173 Accrued warranty 4,783 4,919 Other 13,855 9,662 Total $ 98,479 $ 53,780 Accrued Warranty The following table summarizes changes in accrued warranty for the periods indicated (in thousands): Year Ended December 31, 2021 2020 2019 Balance at beginning of year $ 4,919 $ 5,756 $ 4,510 Provision charged to cost of revenue 1,410 1,838 2,360 Warranty liabilities acquired from acquisitions 874 — 142 Use of provision (2,326 ) (2,805 ) (1,282 ) Foreign currency exchange rate changes (94 ) 130 26 Balance at end of year $ 4,783 $ 4,919 $ 5,756 Other Long Term Liabilities The following table summarizes other long term liabilities as of the dates indicated (in thousands): December 31, 2021 2020 Finance lease obligations $ 5,309 $ 5,908 Accrued pension liabilities — 1,511 Accrued contingent considerations and earn-outs 3,402 7,276 Other 927 2,471 Total $ 9,638 $ 17,166

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	11. Debt Debt consisted of the following (in thousands): December 31, 2021 2020 Senior Credit Facilities – term loan $ 5,126 $ 5,545 Less: unamortized debt issuance costs (29 ) (37 ) Total current portion of long-term debt 5,097 5,508 Senior Credit Facilities – term loan 86,879 99,534 Senior Credit Facilities – revolving credit facility 346,579 99,761 Less: unamortized debt issuance costs (4,097 ) (4,368 ) Total long-term debt 429,361 194,927 Total Senior Credit Facilities $ 434,458 $ 200,435 Senior Credit Facilities On December 31, 2019, the Company entered into an amended and restated credit agreement (as amended, the “Third Amended and Restated Credit Agreement”) with existing lenders for an aggregate credit facility of $450.0 million, originally consisting of a $100.0 million U.S. dollar equivalent euro-denominated (approximately €90.2 million) 5-year term loan facility and a $350.0 million 5-year revolving credit facility (collectively, the “Senior Credit Facilities”). The Senior Credit Facilities mature in December 2024. The Third Amended and Restated Credit Agreement amended and restated the Second Amended and Restated Credit Agreement dated as of May 19, 2016. On March 27, 2020, the Company entered into an amendment (the “First Amendment”) to the Third Amended and Restated Credit Agreement and exercised a portion of the uncommitted accordion feature. The First Amendment increased the revolving credit facility commitment under the Third Amended and Restated Credit Agreement by $145.0 million, from $350.0 million to $495.0 million, and reset the uncommitted accordion feature to $200.0 million for potential future expansion. On October 5, 2021, the Company entered into an amendment (the “Fourth Amendment”) to the Third Amended and Restated Credit Agreement to exercise the accordion option. The Fourth Amendment increased the revolving credit facility commitment under the Third Amended and Restated Credit Agreement by $200.0 million, from $495.0 million to $695.0 million, and reset the uncommitted accordion feature to $200.0 million for potential future expansion. The borrowings outstanding under the Senior Credit Facilities bear interest at rates based on (a) the Base Rate, as defined in the Third Amended and Restated Credit Agreement, plus a margin ranging between 0.25% to 1.25% per annum, determined by reference to the Company’s consolidated leverage ratio, or (b) the Eurocurrency Rate, as defined in the Third Amended and Restated Credit Agreement, plus a margin ranging between 1.25% and 2.25% per annum, determined by reference to the Company’s consolidated leverage ratio. In addition, the Company is obligated to pay a commitment fee on the unused portion of the revolving credit facility, ranging between 0.20% and 0.40% per annum, determined by reference to the Company’s consolidated leverage ratio. The Third Amended and Restated Credit Agreement contains various customary representations, warranties and covenants applicable to the Company and its subsidiaries, including, among others: (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 3.25:1.00, with a step up to 3.75:1.00 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $50.0 million, and the satisfaction of other customary conditions; (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 Third 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 1.50:1.00 and a maximum consolidated leverage ratio of 3.50:1.00. The maximum consolidated leverage ratio will increase to 4.00:1.00 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $50.0 million. As of December 31, 2021, the outstanding principal under the Company’s term loan facility is scheduled to be repaid as follows (in thousands): Principal Amount 2022 $ 5,126 2023 5,126 2024 81,753 Total debt repayments $ 92,005 The outstanding principal balance under the term loan facility is payable in quarterly installments of €1.1 million beginning in March 2020, with the remaining balance due upon maturity. The Company may make additional principal payments at any time, which will reduce the next quarterly installment payment due. Borrowings under the revolving credit facility may be repaid at anytime through December 2024. The Company may be required to prepay outstanding loans under the Third 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, 2021, the Company had $348.4 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 2.33% as of December 31, 2021. The commitment fee rate for the unused commitments under the revolving credit facility was approximately 0.40% as of December 31, 2021. Guarantees The Senior Credit Facilities is guaranteed by Novanta Inc., Novanta Corporation, NDS Surgical Imaging LLC, Med X Change, Inc., Novanta Medical Technologies Corp., W.O.M. World of Medicine USA, Inc., 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 Third 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 Third Amended and Restated Credit Agreement upon the occurrence of certain events, including, but not limited to: (i) the Guarantor ceasing to be a subsidiary; or (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 that 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, 2021, 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. The Third Amended and Restated Credit Agreement also contains customary events of default. Deferred Financing Costs In connection with the execution of the Third Amended and Restated Credit Agreement, the First Amendment, and the Fourth Amendment, the Company capitalized an additional $5.2 million of deferred financing costs. The Company allocated these 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. Previously unamortized deferred financing costs will continue to be amortized. Non-cash interest expense related to the amortization of the deferred financing costs was $1.2 million, $1.0 million and $1.1 million in 2021, 2020 and 2019, 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, 2021 and 2020, 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	12. Leases Most leases held by the Company expire between 2022 and 2036. In the U.K., where longer lease terms are more common, the Company has a land lease that extends through 2078. Certain leases include terms such as an option to purchase the property, one or more options to renew, with renewal terms that can extend the lease term from one to 10 years, and options to terminate the leases within one year. The exercise of lease renewal or termination option is at the Company’s sole discretion; therefore, the majority of renewals to extend the lease terms are not included in the Company’s right-of-use assets and operating lease liabilities as they are not reasonably certain of being exercised. The Company regularly evaluates the renewal options and includes the renewal periods in the lease term when they are reasonably certain of being exercised. The depreciable life of right-of-use assets and leasehold improvements is limited to the expected lease terms. The following table summarizes the components of lease costs included in the statements of operations for the periods indicated (in thousands): Year Ended December 31, 2021 2020 2019 Operating lease cost $ 8,533 $ 7,693 $ 7,638 Finance lease cost Amortization of right-of-use assets 602 989 831 Interest on lease liabilities 340 432 430 Variable lease cost 1,074 1,336 1,329 Total lease cost $ 10,549 $ 10,450 $ 10,228 The following table provides the details of balance sheet information related to leases as of the dates indicated (in thousands, except lease term and discount rate): December 31, 2021 2020 Operating leases: Operating lease right-of-use assets $ 48,338 $ 34,444 Current portion of operating lease liabilities $ 7,334 $ 6,188 Operating lease liabilities 45,700 32,802 Total operating lease liabilities $ 53,034 $ 38,990 Finance leases: Property, plant and equipment, gross $ 9,582 $ 19,819 Accumulated depreciation (5,068 ) (4,934 ) Finance lease assets included in property, plant and equipment, net $ 4,514 $ 14,885 Accrued expenses and other current liabilities $ 599 $ 9,720 Other liabilities 5,309 5,908 Total finance lease liabilities $ 5,908 $ 15,628 Weighted-average remaining lease term (in years): Operating leases 9.0 9.3 Finance leases 7.5 3.5 Weighted-average discount rate: Operating leases 4.72 % 5.50 % Finance leases 5.54 % 3.00 % The following table provides the details of cash flow information related to leases for the periods indicated (in thousands): Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in lease liabilities: Operating cash flows from finance leases $ 340 $ 432 $ 430 Operating cash flows from operating leases $ 7,818 $ 6,760 $ 7,768 Financing cash flows from finance leases $ 9,310 $ 1,321 $ 868 Supplemental non-cash information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 22,574 $ 4,290 $ 7,723 Right-of-use assets obtained in exchange for new finance lease liabilities $ - $ - $ 9,209 During the year ended December 31, 2021, the Company paid $8.7 million upon the exercise of an option to purchase a building under a finance lease agreement in Germany. The cash payment is presented as a cash outflow from financing activities in the consolidated statement of cash flows. Future minimum lease payments under operating and finance leases expiring subsequent to December 31, 2021, 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 Ending December 31, Operating Leases Finance Leases 2022 $ 9,152 $ 907 2023 8,419 930 2024 7,711 954 2025 7,673 954 2026 6,585 979 Thereafter 27,577 2,508 Total minimum lease payments 67,117 7,232 Less: interest (14,083 ) (1,324 ) Present value of lease liabilities $ 53,034 $ 5,908

Stockholders_ Equity and Share-

Stockholders’ Equity and Share-Based Compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders’ Equity and Share-Based Compensation	13. Stockholders’ Equity and Share-Based Compensation Preferred Shares In May 2021, the Company’s shareholders approved a special resolution to amend the Company’s articles to authorize up to 7.0 million preferred shares for future issuance. The Company’s Board of Directors is authorized to designate and issue one or more series of preferred shares, fix the rights, preferences and designation, as deemed necessary or advisable, relating to the preferred shares, provided that no shares of any series may be entitled to more than one vote per share. As of December 31, 2021, no preferred shares had been issued and outstanding. Common Shares The Company has an unlimited number of non-par value common shares authorized for issuance. 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 the Company’s assets legally available for distribution to shareholders in the event of liquidation. Holders of common shares have no redemption or conversion rights. Common Share Repurchases The Company’s Board of Directors may approve share repurchase plans from time to time. Under these repurchase plans, shares may be repurchased at the Company’s discretion based on ongoing assessment of the capital needs of the business, market prices of the Company’s common shares, and general market conditions. Shares may also be repurchased through an accelerated share 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 shares to be repurchased when the Company would otherwise be prohibited from doing so under insider trading laws. While the share repurchase plans are generally intended to offset dilution from equity awards granted to the Company’s employees and directors, the plans do not obligate the Company to acquire any particular amount of common shares. No time limit is typically set for the completion of the share repurchase plans, and the plans may be suspended or discontinued at any time. The Company expects to fund share repurchases through cash on hand and cash generated from operations. In October 2018, the Company’s Board of Directors approved a share repurchase plan (the “2018 Repurchase Plan”) authorizing the repurchase of $25.0 million worth of common shares. Share repurchases have been made under the 2018 Repurchase Plan pursuant to Rule 10b-18 under the Securities Exchange Act of 1934. During 2020, the Company repurchased 65 thousand shares for an aggregate purchase price of $5.5 million at an average price of $84.55 per share. During 2019, the Company repurchased 119 thousand shares for an aggregate purchase price of $10.0 million at an average price of $83.71 per share under the 2018 Repurchase Plan. The Company had $9.5 million available for share repurchases under the 2018 Repurchase Plan as of December 31, 2021. In February 2020, the Company’s Board of Directors approved a new share repurchase plan (the “2020 Repurchase Plan”) authorizing the repurchase of an additional $50.0 million worth of common shares, effective after the completion of the 2018 Repurchase Plan. No shares have been repurchased under the 2020 Repurchase Plan to date. As of December 31, 2021, the Company had $59.5 million available under the 2018 and 2020 share repurchase plans for future share repurchases. 2010 Incentive Award Plan In November 2010, the Company’s shareholders approved the 2010 Incentive Award Plan under which the Company may grant share-based compensation awards to employees, consultants and directors. In May 2021, the Company’s shareholders approved an 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 6,148,613, 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 May 13, 2031. As of December 31, 2021, there were 2,242,880 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, 2021 2020 2019 Selling, general and administrative $ 17,255 $ 14,550 $ 8,361 Research and development and engineering 2,294 3,301 497 Cost of revenue 3,008 4,684 482 Restructuring and acquisition related costs 3,049 584 — Total share-based compensation expense $ 25,606 $ 23,119 $ 9,340 The expense recorded during each of the three years ended December 31, 2021, 2020 and 2019 included $1.1 million, $1.0 million and $0.9 million, respectively, related to restricted stock units and deferred stock units granted to the members of the Company’s Board of Directors. As of December 31, 2021, the Company’s outstanding equity awards for which compensation expense will be recognized in the future consisted of time-based restricted stock units and performance stock units granted under the Amended and Restated 2010 Incentive Plan. The Company expects to record an aggregate share-based compensation expense of $31.4 million, net of estimated forfeitures, over a weighted average period of 1.05 years subsequent to December 31, 2021, for all outstanding equity awards as of December 31, 2021. Restricted Stock Units and Deferred Stock Units The Company’s restricted stock units (“RSUs”) have generally been issued to employees with vesting periods ranging from zero 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. There were 91 thousand and 162 thousand DSUs outstanding as of December 31, 2021 and December 31, 2020, respectively, which were included in the calculation of weighted average basic shares outstanding for the respective periods. The table below summarizes activities during 2021 relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan: 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, 2020 625 $ 58.79 Granted 176 $ 137.90 Vested (487 ) $ 51.38 Forfeited (22 ) $ 104.98 Unvested at December 31, 2021 292 $ 115.42 0.95 years $ 51,442 Expected to vest as of December 31, 2021 277 $ 115.17 0.95 years $ 48,822 (1) The aggregate intrinsic value is calculated based on the fair value of $176.33 per share of the Company’s common stock on December 31, 2021 due to the fact that the restricted stock units carry a $0 purchase price. The total fair value of restricted stock units and deferred stock units that vested in 2021, based on the market price of the underlying shares on the day of vesting, was $68.5 million. Performance Stock Units The Company typically grants 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 a three-year 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 In February 2021, the Company granted operating cash flow performance-based restricted stock units (“OCF-PSUs”) to certain members of the executive management team. Upon completion of the requisite service periods, the OCF-PSUs will vest in two tranches if the Company achieves the cumulative operating cash flow performance target for fiscal years 2021 through 2023 as approved by the Company’s Compensation Committee as of the date of grant. The first fifty percent of the OCF-PSU grant will vest at the end of the four-year five-year The table below summarizes activities during 2021 relating to performance-based stock awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan: 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, 2020 142 $ 88.99 Granted 67 $ 150.89 Performance adjustment (3) 28 $ 67.72 Vested (75 ) $ 64.25 Forfeited — $ — Unvested at December 31, 2021 162 $ 122.26 1.55 years $ 28,461 Expected to vest as of December 31, 2021 197 $ 130.33 1.55 years $ 34,749 (1) The unvested PSUs are shown in this table at target. The number of shares vested reflects the number of shares earned and issued during the year. As of December 31, 2021, the maximum number of PSUs available to be earned was approximately 286 thousand. (2) The aggregate intrinsic value is calculated based on the fair value of $176.33 per share of the Company’s common stock on December 31, 2021 due to the fact that the performance stock units carry a $0 purchase price. (3) The amount shown represents performance adjustments for performance-based awards granted on February 22, 2018. These awards vested at 160% of target number of shares during 2021 based on the achievement of cumulative Non-GAAP EPS and applicable relative TSR performance conditions during the performance period of fiscal years 2018 through 2020. The total fair value of PSUs that vested in 2021, based on the market price of the underlying shares on the date of vesting, was $9.3 million. 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, 2021 Grant-date stock price $ 138.23 Expected volatility 42.44 % Risk-free interest rate 0.22 % Expected annual dividend yield — Weighted average fair value $ 166.64 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 vested ratably on the anniversary date of the grant date over a three-year The following table shows stock options that were outstanding and exercisable as of December 31, 2021 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 (In years) Aggregate Intrinsic Value (1) (In thousands) Stock options outstanding 60 $ 14.13 4.25 $ 9,753 Stock options exercisable 60 $ 14.13 4.25 $ 9,753 (1) The aggregate intrinsic value is calculated as

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	14. Employee Benefit Plans Defined Contribution Plans The Company has defined contribution employee retirement savings plans in the U.S., the U.K. and Japan. The Company matches the contributions of participating employees on the basis of percentages specified in each plan. The Company’s matching contributions to the plans were $4.4 million, $4.2 million and $4.4 million for the years ended December 31, 2021, 2020 and 2019, respectively. Defined Benefit Plan The Company maintains a frozen defined benefit pension plan in the U.K. (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 participants’ 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. The net periodic pension cost is included in other income (expense) in the consolidated statements of operations and consisted of the following components (in thousands): Year Ended December 31, 2021 2020 2019 Components of the net periodic pension cost: Interest cost $ 554 $ 736 $ 971 Expected return on plan assets (1,120 ) (1,340 ) (1,671 ) Amortization of actuarial losses 928 686 957 Amortization of prior service cost 31 29 29 Net periodic pension cost $ 393 $ 111 $ 286 The actuarial assumptions used to compute the net periodic pension cost for the years ended December 31, 2021, 2020 and 2019, respectively, were as follows: Year Ended December 31, 2021 2020 2019 Weighted-average discount rate 1.2 % 1.9 % 2.7 % Weighted-average long-term rate of return on plan assets 2.5 % 3.6 % 5.1 % The actuarial assumptions used to compute the benefit obligations as of December 31, 2021 and 2020, respectively, were as follows: December 31, 2021 2020 Weighted-average discount rate 1.8 % 1.2 % Rate of inflation 3.2 % 2.6 % 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, 2021 2020 Change in benefit obligation: Projected benefit obligation at beginning of year $ 47,200 $ 40,456 Interest cost 554 736 Actuarial (gains) losses (1) (3,303 ) 5,410 Benefits paid (2,679 ) (1,111 ) Prior service cost 36 — Foreign currency exchange rate changes (410 ) 1,709 Projected benefit obligation at end of year $ 41,398 $ 47,200 Accumulated benefit obligation at end of year $ 41,398 $ 47,200 Change in plan assets: Fair value of plan assets at beginning of year $ 45,689 $ 38,983 Actual return on plan assets 592 5,170 Employer contributions 1,055 988 Benefits paid (2,679 ) (1,111 ) Foreign currency exchange rate changes (470 ) 1,659 Fair value of plan assets at end of year $ 44,187 $ 45,689 Funded status at end of year $ 2,789 $ (1,511 ) Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost: Net actuarial losses at beginning of year $ (10,958 ) $ (9,706 ) Net actuarial gains (losses) during the year 2,775 (1,580 ) Prior service cost arising during the year (36 ) - Amounts reclassified from accumulated other comprehensive income to income before income taxes 959 715 Foreign currency exchange rate changes 54 (387 ) Net actuarial losses $ (7,206 ) $ (10,958 ) (1) The funded status of the U.K. Plan was included in other long term assets on the accompanying consolidated balance sheet as of December 31, 2021 and in other long term liabilities as of December 31, 2020. The following table reflects the total expected benefit payments to plan participants for each of the next five years and the following five years in aggregate and have been estimated based on the same assumptions used to measure the Company’s benefit obligations as of December 31, 2021 (in thousands): Amount 2022 $ 1,090 2023 1,198 2024 1,567 2025 1,447 2026 1,677 2027-2031 9,765 Total $ 16,744 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 $1.1 million in 2022 and will increase by 2.9% per year thereafter. Fair Value of Plan Assets The trustee of the U.K. Plan has 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, 2021 (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) $ 30,774 $ — $ — $ — $ 30,774 Fixed income (2) 13,250 — — — 13,250 Cash 163 163 — — — Total $ 44,187 $ 163 $ — $ — $ 44,024 (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 (35%), bonds (39%), other assets (21%) and cash (5%). (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 (88%), other assets (6%), and cash (6)%. The following table summarizes the fair values of Plan assets by asset category as of December 31, 2020 (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) $ 31,572 $ — $ — $ — $ 31,572 Fixed income (2) 13,251 — — — 13,251 Cash 866 866 — — — Total $ 45,689 $ 866 $ — $ — $ 44,823 (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 (35%), bonds (37%), other assets (19%) and cash (9%). (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 (83%), other assets (16%) and cash (1%).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
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, 2021 2020 2019 Income (loss) before income taxes: Canada $ (1,371 ) $ (2,278 ) $ 78 U.S. 19,168 16,875 25,577 Other 38,375 33,806 20,111 Total $ 56,172 $ 48,403 $ 45,766 Components of the Company’s income tax provision (benefit) are as follows (in thousands): Year Ended December 31, 2021 2020 2019 Current Canada $ 95 $ 82 $ 100 U.S. 205 1,324 1,109 Other 9,486 6,589 8,116 9,786 7,995 9,325 Deferred Canada 493 (493 ) — U.S. (2,133 ) (1,256 ) 703 Other (2,305 ) (2,364 ) (5,035 ) (3,945 ) (4,113 ) (4,332 ) Total $ 5,841 $ 3,882 $ 4,993 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, 2021 2020 2019 Statutory Canadian tax rate 29.00 % 29.00 % 29.00 % Expected income tax provision at Canadian statutory tax rate $ 16,291 $ 14,037 $ 13,272 International tax rate differences (3,621 ) (3,483 ) (3,346 ) U.S. state income taxes, net (249 ) (108 ) 386 Withholding and other taxes 429 485 364 Permanent differences and other 921 259 443 Disallowed compensation 1,111 685 - Foreign-derived intangible income (1,211 ) (1,063 ) (787 ) Tax credits (1,408 ) (2,016 ) (1,457 ) Statutory tax rate changes 489 429 35 Uncertain tax positions (472 ) (176 ) 310 Change in valuation allowance 918 (727 ) (482 ) Acquisition contingent consideration adjustments 87 (1,513 ) 287 Transaction costs 248 (23 ) 247 Provision to return differences 33 750 (516 ) Windfall benefit from share-based compensation (5,131 ) (2,322 ) (1,717 ) UK patent box (2,594 ) (1,332 ) (2,046 ) Reported income tax provision $ 5,841 $ 3,882 $ 4,993 Effective tax rate 10.4 % 8.0 % 10.9 % 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, 2021 and 2020 are as follows (in thousands): December 31, 2021 2020 Deferred tax assets: Losses $ 9,358 $ 8,524 Operating lease liabilities 12,200 10,216 Compensation related deductions 6,795 5,955 Inventories 6,594 5,090 Tax credits 2,786 2,958 Restructuring related liabilities 206 185 Warranty 700 720 Other 197 957 Total deferred tax assets 38,836 34,605 Valuation allowance on deferred tax assets (12,608 ) (11,561 ) Net deferred tax assets $ 26,228 $ 23,044 Deferred tax liabilities: Depreciation $ (2,585 ) $ (1,583 ) Amortization (32,117 ) (24,772 ) Unrealized currency gains/losses - (372 ) Operating lease right-of-use assets (11,667 ) (9,960 ) Deferred revenue (1,391 ) — Total deferred tax liabilities $ (47,760 ) $ (36,687 ) Net deferred income tax assets (liabilities) $ (21,532 ) $ (13,643 ) 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 2021, the Company recorded an additional $0.9 million valuation allowance. In 2020, the Company reversed valuation allowance of $0.7 million recorded on net operating losses and other timing items in certain tax jurisdictions due to current and forecast taxable income. In 2019, the Company reversed valuation allowance of $0.5 million recorded on net operating losses and other timing items in certain tax jurisdictions due to taxable income generated during the year. 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 not more likely than not that they will 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, 2021, the Company had net operating loss carryforwards of $3.5 million (tax effected). Of this amount, approximately $2.9 million relates to Canada and begin to expire starting in 2033 and have a full valuation allowance. The remainder $0.6 million relates to various U.S. and other foreign jurisdictions, of which $0.2 million can be carried forward indefinitely and the remaining $0.4 million will begin to expire in 2022 through 2036. In addition, the Company had capital loss carryforwards of $5.9 million, which can be carried forward indefinitely and have a full valuation allowance. Of this amount, $5.1 million and $0.8 million related to Canada and the U.K, respectively. As of December 31, 2020, the Company had net operating loss carryforwards of $3.1 million (tax effected) available to reduce future taxable income. Of this amount, approximately $0.9 million relates to the U.S. and expires through 2037; and $2.1 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, $5.1 million and $0.6 million related to Canada and the U.K, respectively. As of December 31, 2021, the Company had tax credit carryforwards of approximately $3.8 million. Approximately $2.6 million relate primarily to the U.S. and other immaterial foreign jurisdictions and will expire through 2042. The remaining $1.2 million tax credit carryforwards were related to Canada, of which $ million expires through 2022 and $ million can be carried forward indefinitely. As of December 31, 2020, the Company had tax credit carryforwards of approximately $3.3 million available to reduce income taxes in future years. Approximately $1.4 million relates to the U.S. state tax credits, of which $1.3 million will expire through 2035 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 recognized for financial reporting purposes over the tax basis of investments in foreign subsidiaries that are essentially permanent in nature. The excess 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 $266.1 million as of December 31, 2021. The estimated unrecognized income tax and foreign withholding tax liability on this temporary difference is approximately $4.0 million. As of December 31, 2021, the Company’s total amount of unrecognized tax benefits was $4.8 million, of which $4.6 million would favorably affect the effective tax rate if benefited. Over the next twelve months, the Company may need to reverse up to $0.5 million of previously recorded 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 significant income tax uncertainties. The reconciliation of the total amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2018 $ 4,725 Additions based on tax positions related to the current year 727 Additions for tax positions of prior years 5 Reductions to tax positions of prior years (31 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (497 ) Settlements with tax authorities — Balance at December 31, 2019 4,929 Additions based on tax positions related to the current year 476 Additions for tax positions of prior years 356 Reductions to tax positions of prior years (5 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (498 ) Settlements with tax authorities — Balance at December 31, 2020 5,258 Additions based on tax positions related to the current year 1,162 Additions for tax positions of prior years 9 Reductions to tax positions of prior years (41 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (1,591 ) Settlements with tax authorities — Balance at December 31, 2021 $ 4,797 The Company recognizes interest and penalties related to uncertain tax positions in income tax provision. As of December 31, 2021 and 2020, the Company had approximately $0.6 million and $0.7 million, respectively, of accrued interest and penalties related to uncertain tax positions. During the years ended December 31, 2021, 2020 and 2019, the Company recognized ($0.1) million, $0.2 million and $0.1 million, respectively, of expense for an increase (decrease) 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 20 1 1 . 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 2018 - Present Canada 2017 - Present United Kingdom 2020 - Present Germany 2017 - Present The Netherlands 2017 - Present China 2012 - Present Japan 2016 - Present

Restructuring and Acquisition R

Restructuring and Acquisition Related Costs	12 Months Ended
	Dec. 31, 2021
Restructuring And Related Activities [Abstract]
Restructuring and Acquisition Related Costs	16. Restructuring and Acquisition Related Costs The following table summarizes restructuring and acquisition related costs recorded in the accompanying consolidated statements of operations (in thousands): Year Ended December 31, 2021 2020 2019 2020 restructuring $ 8,133 $ 2,736 $ — 2019 restructuring 208 988 7,463 2018 restructuring - 753 1,177 Total restructuring related charges $ 8,341 $ 4,477 $ 8,640 Acquisition and related charges $ 9,679 $ (667 ) $ 7,934 Total restructuring and acquisition related costs $ 18,020 $ 3,810 $ 16,574 2020 Restructuring As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2020 restructuring program in the third quarter of 2020. This program is focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program has been focused on cost reduction actions that improve gross margins for the overall company. In 2021, the Company recorded $8.1 million in severance and other costs in connection with the 2020 restructuring program. The Company anticipates completing the 2020 restructuring program in the fourth quarter of 2022 and expects to incur additional restructuring charges between $3.5 million and $4.5 million related to the 2020 restructuring program in the next twelve months. The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2021 2020 December 31, 2021 Photonics $ 3,085 $ 740 $ 3,825 Vision 813 1,330 2,143 Precision Motion 4,206 524 4,730 Unallocated Corporate and Shared Services 29 142 171 Total $ 8,133 $ 2,736 $ 10,869 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 2021, the Company recorded $0.2 million in severance and related costs in connection with the 2019 restructuring plan. As of December 31, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $9.0 million. The 2019 restructuring program was completed in the first quarter of 2021. 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 Employee Related Facility Related Other Balance at December 31, 2019 $ 2,073 $ 1,988 $ — $ 85 Restructuring charges 4,477 3,506 503 468 Cash payments (4,024 ) (3,229 ) (115 ) (680 ) Non-cash write-offs and other adjustments (726 ) (584 ) (272 ) 130 Balance at December 31, 2020 1,800 1,681 116 3 Restructuring charges 8,341 6,462 1,309 570 Cash payments (3,727 ) (2,898 ) (226 ) (603 ) Non-cash write-offs and other adjustments (1) (3,728 ) (3,138 ) (649 ) 59 Balance at December 31, 2021 $ 2,686 $ 2,107 $ 550 $ 29 ( 1 ) Non-cash charges included stock-based compensation charges amounting to $3.0 million associated with severance agreements for certain employees. Acquisition and Related Charges Acquisition and related costs incurred in connection with business combinations, primarily including finders’ fees, legal, valuation and other professional or consulting fees, totaled $5.9 million, $0.6 million, and $5.3 million during 2021, 2020, and 2019, respectively. The Company incurred $1.9 million and $1.7 million in legal costs related to a dispute involving a company that was acquired in 2019 during 2021 and 2020, respectively. Acquisition related costs recognized under earn-out agreements in connection with acquisitions totaled $1.9 million, $(3.0) million, and $2.6 million during 2021, 2020, and 2019, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Purchase Commitments As of December 31, 2021, the Company had purchase commitments primarily for inventory purchases of $169.6 million. These purchase commitments are expected to be incurred as follows: $167.1 million in 2022 and $2.5 million in 2023. Legal Proceedings In April 2020, the Company received notification of an arbitration demand filed with the American Arbitration Association against a business acquired by the Company in June 2019. The arbitration demand was filed by a contract counterparty to a joint product development agreement entered into by the business before the Company acquired it. The arbitration demand alleged breach of contract and other claims arising out of allegations that the business failed to engage in required marketing activities for the product developed under the joint product development agreement. The claimant sought compensatory and punitive damages, lost profits and other relief. During the second quarter of 2021, the arbitrator formally closed the arbitration pursuant to a settlement between the parties. No financial damages payments were made by the Company. The Company is subject to various other 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, 2021 and 2020. 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 geographic 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 technologies, and international operations.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	18. Segment Information Reportable Segments The Company’s Chief Operating Decision Maker (“CODM”) is our Chief Executive Officer. The 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, solid state laser, 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 technologies, video recorder and video integration technologies for operating room integrations; optical data collection and machine vision technologies; radio frequency identification 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 motors, servo drives and motion control solutions, integrated stepper motors, intelligent robotic end-of-arm technology solutions, air bearings, and air bearing spindles 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 were as follows (in thousands): Year Ended December 31, 2021 2020 2019 Revenue Photonics $ 232,459 $ 199,613 $ 230,457 Vision 262,060 261,650 271,407 Precision Motion 212,274 129,360 124,235 Total $ 706,793 $ 590,623 $ 626,099 Year Ended December 31, 2021 2020 2019 Gross Profit Photonics $ 107,993 $ 89,060 $ 105,845 Vision 100,890 100,267 105,228 Precision Motion 99,345 58,279 53,326 Unallocated Corporate and Shared Services (7,900 ) (3,089 ) (2,314 ) Total $ 300,328 $ 244,517 $ 262,085 Year Ended December 31, 2021 2020 2019 Operating Income (Loss) Photonics $ 46,792 $ 34,001 $ 41,990 Vision 17,694 16,354 21,007 Precision Motion 52,676 31,663 22,339 Unallocated Corporate and Shared Services (53,108 ) (26,130 ) (30,054 ) Total $ 64,054 $ 55,888 $ 55,282 Year Ended December 31, 2021 2020 2019 Depreciation and Amortization Expenses Photonics $ 11,600 $ 11,261 $ 12,139 Vision 20,812 21,374 21,161 Precision Motion 10,728 5,443 4,712 Unallocated Corporate and Shared Services 254 215 268 Total $ 43,394 $ 38,293 $ 38,280 December 31, 2021 2020 Accounts Receivable Photonics $ 31,392 $ 27,328 Vision 44,078 33,194 Precision Motion 40,147 14,532 Total accounts receivable $ 115,617 $ 75,054 Inventories Photonics $ 49,146 $ 35,878 Vision 34,621 41,137 Precision Motion 41,890 15,722 Total inventories $ 125,657 $ 92,737 Total segment assets $ 241,274 $ 167,791 December 31, 2021 2020 Total Assets Total segment assets $ 241,274 $ 167,791 Cash and cash equivalents 117,393 125,054 Prepaid income taxes and income taxes receivable 1,997 3,203 Prepaid expenses and other current assets 13,161 8,125 Property, plant and equipment, net 87,439 78,676 Operating lease assets 48,338 34,444 Deferred tax assets 12,206 10,491 Other assets 5,586 2,894 Intangible assets, net 220,989 148,521 Goodwill 479,500 285,980 Total $ 1,227,883 $ 865,179 Geographic Information The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is summarized as follows (in thousands, except percentage data): Year Ended December 31, 2021 2020 2019 Revenue % of Total Revenue % of Total Revenue % of Total United States $ 270,833 38.4 % $ 225,760 38.2 % $ 254,279 40.6 % Germany 101,865 14.4 83,765 14.2 82,032 13.1 Rest of Europe 138,863 19.6 127,040 21.5 129,643 20.7 China 95,045 13.4 70,557 11.9 59,512 9.5 Rest of Asia-Pacific 89,198 12.6 74,334 12.6 89,588 14.3 Other 10,989 1.6 9,167 1.6 11,045 1.8 Total $ 706,793 100.0 % $ 590,623 100.0 % $ 626,099 100.0 % 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, 2021 2020 United States $ 27,587 $ 25,436 Germany 33,344 36,314 U.K. 15,059 9,447 Rest of Europe 4,754 5,312 China 6,521 1,809 Rest of Asia-Pacific 174 358 Total $ 87,439 $ 78,676 Revenue by End Market The Company primarily operates in two end markets: the medical market and the advanced industrial market. Revenue by end market was approximately as follows: Year Ended December 31, 2021 2020 2019 Medical 52 % 56 % 55 % Advanced Industrial 48 % 44 % 45 % Total 100 % 100 % 100 % The majority of the revenue from the Photonics and Precision Motion segments is generated from sales to customers in the advanced industrial market. The majority of the revenue from the Vision segment is generated from sales to customers in the medical market. Significant Customers No accounted for greater than 10% of the Company’s consolidated revenue during the years ended December 31, 2021 and December 31, 2019. For the year ended December 31, 2020, the Company recognized revenue from an OEM customer in the medical end market which accounted for approximately 11% of the Company’s consolidated revenue

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
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.
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 such revisions are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions, including estimated economic implications of the COVID-19 pandemic, and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from these 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 Credit Losses	Accounts Receivable and Credit Losses 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. The Company is exposed to credit losses primarily through sales of its products. The Company assesses each customer’s ability to pay by conducting a credit review which includes consideration of established credit rating or an internal assessment of the customer’s creditworthiness based on an analysis of their payment history when a credit rating is not available. The Company monitors its credit exposure through active review of customer balances. The Company’s expected loss methodology for accounts receivable is developed through consideration of factors including, but not limit to, historical collection experience, current customer credit ratings, current customer financial condition, current and future economic and market condition, and age of the receivables. Charges related to credit losses 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, 2021, 2020 and 2019, changes in the allowance for doubtful accounts were as follows (in thousands): 2021 2020 2019 Balance at beginning of year $ 274 $ 297 $ 321 Addition to credit loss expense 121 158 33 Credit loss resulting from acquisitions 216 — 120 Write-offs, net of recoveries of amounts previously reserved (45 ) (207 ) (179 ) Exchange rate changes (10 ) 26 2 Balance at end of year $ 556 $ 274 $ 297
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 and duties, 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, storage, 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 10 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.
Goodwill, Intangible Assets 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 revenue growth rates, customer attrition rates, royalty rates, discount rates and projected future cash flows. 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 typically 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 the 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.” 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 instead. This approach requires a comparison of the carrying value of each reporting unit to its estimated fair value. 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 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 and estimated royalty rates. 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 carrying value of the asset group 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 accounts for its revenue transactions in accordance with ASC 606, “Revenue from Contracts with Customers,” which requires entities to recognize revenue in a way that depicts the transfer of control over 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. The Company recognizes revenue when control of promised goods or services is transferred to the customer. 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 36 months. 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 warranty cost is recorded in 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 time period between the transfer of a promised good to a customer and the customer’s payment for that good is 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, 2021 and December 31, 2020, contract liabilities were $7.3 million and $6.5 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The increase in the contract liability balance during the year ended December 31, 2021 is primarily due to cash payments received in advance of satisfying performance obligations and acquired contract liabilities of $2.0 million from current year acquisitions, partially offset by $5.6 million of revenue recognized during the year that was included in the contract liability balance at December 31, 2020. Disaggregated Revenue
Leases	Leases The Company leases certain equipment and facilities. The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets are included in operating lease assets on the consolidated balance sheet. Operating lease liabilities are included in current portion of operating lease liabilities and operating lease liabilities on the consolidated balance sheet based on the timing of future lease payments. Finance lease assets are included in property, plant and equipment. Finance lease liabilities are included in accrued expenses and other current liabilities and other liabilities on the consolidated balance sheet based on the timing of future lease payments. Leases with an initial term of twelve months or less are not recognized on the balance sheet. The Company recognizes lease expense on a straight-line basis over the lease term. Many of the Company’s lease arrangements include both lease (e.g., fixed payments including rent) and non-lease components (e.g., common-area maintenance or other property management costs). The Company accounts for lease and non-lease components separately. Most leases held by the Company do not provide an implicit rate. The Company uses its incremental borrowing rate for the same jurisdiction and term as the associated lease based on the information available at the lease commencement date to determine the present value of future lease payments. Upon adoption of ASC 842, “Leases”, the Company used the incremental borrowing rate as of January 1, 2019 for operating leases that commenced prior to that date. The Company has a centrally managed treasury function; therefore, the Company applies a portfolio approach for determining the incremental borrowing rate based on the applicable lease terms and the current economic environment.
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 expenses 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 respective vesting periods, net of estimated forfeitures. The Company also grants three 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”), operating cash flow performance-based restricted stock units (“OCF-PSUs”), and relative total shareholder return performance-based restricted stock units (“TSR-PSUs”). Share-based compensation expenses associated with EPS-PSUs and OCF-PSUs are recognized ratably over their vesting periods 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 as well as the estimated levels of achievement. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be recorded in the period such determination is made. Accordingly, share-based compensation expenses associated with EPS-PSUs and OCF-PSUs may differ significantly from period to period based on changes to both the probability and the level of achievement against performance targets. Share-based compensation expenses associated with TSR-PSUs are based on the grant-date fair value, determined using the Monte-Carlo valuation model, and are recognized on a straight-line basis from the grant date to the end of the performance period. Compensation expenses associated with TSR-PSUs will not be affected by the number of common shares that will ultimately be issued upon vesting 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 2021, 2020 and 2019.
Restructuring, Acquisition and Related Costs	Restructuring, Acquisition and 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, useful lives and residual value of long-lived assets, 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.
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 if any existing 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. Consequently, 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 to fluctuations in foreign currency exchange rates 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 foreign currency 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 The following table provides a brief description of recent Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”): Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles of ASC 740, “Income Taxes”, including: (i) the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (ii) the exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment (or vice-versa); and (iii) the exception for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies GAAP for other areas of ASC 740 by clarifying and amending the existing guidance. January 1, 2021. The Company adopted ASU 2019-12 during the first quarter of 2021. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference rate reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting.” ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. Upon issuance. ASU 2020-04 is elective. The Company does not expect the impact of ASU 2020-04 to be material to its consolidated financial statements. Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” ASU 2021-08 requires that entities recognize and measure contract assets and liabilities acquired in a business combination in accordance with ASC 606, “Revenue from Contracts with Customers”. ASU 2021-08 also applies to contract assets or liabilities from other contracts to which the provisions of ASC 606 apply. The amendments in ASU 2021-08 do not affect the accounting for other assets or liabilities that may arise from revenue contracts with customers in accordance with ASC 606, such as refund liabilities, or in a business combination, such as customer-related intangible assets and contract-based intangible assets. January 1, 2023. Early adoption is permitted. The Company is evaluating the impact of the adoption of ASU 2021-08 on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Changes in Allowance for Doubtful Accounts	For the years ended December 31, 2021, 2020 and 2019, changes in the allowance for doubtful accounts were as follows (in thousands): 2021 2020 2019 Balance at beginning of year $ 274 $ 297 $ 321 Addition to credit loss expense 121 158 33 Credit loss resulting from acquisitions 216 — 120 Write-offs, net of recoveries of amounts previously reserved (45 ) (207 ) (179 ) Exchange rate changes (10 ) 26 2 Balance at end of year $ 556 $ 274 $ 297

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2021
Summary of Unaudited Pro Forma Information	The pro forma information presented below includes the effects of business combination accounting resulting from the acquisitions of ATI and SEM, including amortization of inventory fair value adjustments, amortization of intangible assets, interest expense on borrowings in connection with the acquisitions, acquisition costs, and the related tax effects, assuming that the acquisitions had been consummated as of January 1, 2020. The 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, 2020. Year Ended December 31, 2021 2020 Revenue $ 783,011 $ 682,626 Consolidated net income $ 52,420 $ 33,376
ATI Industrial Automation, Inc.
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	Based upon a preliminary valuation, the total purchase price, including measurement period adjustments, for ATI was allocated as follows (in thousands): Purchase Allocation Cash $ 10,709 Accounts receivable 12,596 Inventories 18,151 Property, plant and equipment 4,618 Operating lease assets 11,263 Intangible assets 52,800 Goodwill 134,420 Other assets 229 Total assets acquired 244,786 Accounts payable 5,135 Current portion of operating lease liabilities 1,740 Operating lease liabilities 9,525 Other liabilities 4,452 Total liabilities assumed 20,852 Total assets acquired, net of liabilities assumed 223,934 Less: cash acquired 10,709 Less: contingent consideration 44,000 Initial purchase price, net of cash acquired $ 169,225
Fair Value of Intangible Assets	The fair value of intangible assets for ATI is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 19,800 15 years Customer relationships 23,900 15 years Trademarks and trade names 5,600 15 years Backlog 3,500 1 year Total $ 52,800
Schneider Electric Motion USA, Inc.
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	Based upon a preliminary valuation, the total purchase price for SEM was allocated as follows (in thousands): Purchase Allocation Cash $ 3,881 Accounts receivable 4,240 Inventories 2,499 Property, plant and equipment 452 Intangible assets 54,570 Goodwill 68,291 Other assets 776 Total assets acquired 134,709 Accounts payable 1,325 Deferred tax liabilities 12,400 Other liabilities 2,420 Total liabilities assumed 16,145 Total assets acquired, net of liabilities assumed 118,564 Less: cash acquired 3,881 Total purchase price, net of cash acquired $ 114,683
Fair Value of Intangible Assets	The fair value of intangible assets for SEM is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 9,110 15 years Customer relationships 41,740 20 years Trademarks and trade names 370 4 years Backlog 3,350 1 year Total $ 54,570
ARGES GmbH
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price for ARGES was allocated as follows (in thousands): Amount Cash $ 3,159 Accounts receivable 1,430 Inventories 7,129 Property, plant and equipment 14,095 Intangible assets 24,713 Goodwill 42,951 Other assets 2,244 Total assets acquired 95,721 Accounts payable 2,598 Deferred tax liabilities 5,510 Other liabilities 14,462 Total liabilities assumed 22,570 Total assets acquired, net of liabilities assumed 73,151 Less: cash acquired 3,159 Total purchase price, net of cash acquired 69,992 Less: contingent consideration 7,870 Less: issuance of common shares 10,900 Less: deferred cash consideration 27,664 Initial cash purchase price, net of cash acquired $ 23,558
Fair Value of Intangible Assets	The fair value of intangible assets for ARGES is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Amortization Value Period Developed technologies $ 11,355 15 years Customer relationships 11,800 15 years Trademarks and trade names 1,225 10 years Backlog 333 5 months Total $ 24,713
Med X Change, Inc and Ingenia-CAT, S.L.
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price allocation for Med X Change and Ingenia is as follows (in thousands): Amount Cash $ 1,000 Accounts receivable 1,739 Inventories 2,372 Property, plant and equipment 496 Intangible assets 22,376 Goodwill 13,388 Other assets 601 Total assets acquired 41,972 Accounts payable 604 Deferred tax liabilities 2,399 Other liabilities 910 Total liabilities assumed 3,913 Total assets acquired, net of liabilities assumed 38,059 Less: cash acquired 1,000 Total purchase price, net of cash acquired 37,059 Less: contingent consideration 6,569 Less: purchase price holdback 905 Net cash used for acquisition of businesses $ 29,585
Fair Value of Intangible Assets	The fair value of intangible assets for Med X Change and Ingenia is comprised of the following (dollar amounts in thousands): Weighted Average Estimated Fair Value Amortization Med X Change Ingenia Period Developed technologies $ 1,800 $ 9,272 10 years Customer relationships 9,900 565 15 years Trademarks and trade names 300 339 9 years Backlog 200 — 7 months Total $ 12,200 $ 10,176

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss were as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Income (Loss) Adjustments Adjustments Balance at December 31, 2018 $ (22,527 ) $ (12,485 ) $ (10,042 ) Other comprehensive income (loss) 3,428 3,267 161 Amounts reclassified from accumulated other comprehensive loss (1) 986 — 986 Balance at December 31, 2019 (18,113 ) (9,218 ) (8,895 ) Other comprehensive income (loss) 5,157 6,922 (1,765 ) Amounts reclassified from accumulated other comprehensive loss (1) 715 — 715 Balance at December 31, 2020 (12,241 ) (2,296 ) (9,945 ) Other comprehensive income (loss) (1,584 ) (3,457 ) 1,873 Amounts reclassified from accumulated other comprehensive loss (1) 959 — 959 Balance at December 31, 2021 $ (12,866 ) $ (5,753 ) $ (7,113 ) (1) The amounts reclassified from accumulated other comprehensive 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, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Goodwill	The following table summarizes changes in goodwill during the year ended December 31, 2021 (in thousands): December 31, 2021 Balance at beginning of year $ 285,980 Goodwill from current year acquisitions 202,711 Effect of foreign exchange rate changes (9,191 ) Balance at end of year $ 479,500
Goodwill by Reportable Segment	Goodwill by reportable segment as of December 31, 2021 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 214,564 $ 160,675 $ 255,490 $ 630,729 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 112,103 $ 128,953 $ 238,444 $ 479,500 Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 218,517 $ 165,195 $ 53,497 $ 437,209 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 116,056 $ 133,473 $ 36,451 $ 285,980
Intangible Assets	Intangible assets as of December 31, 2021 and 2020, respectively, are summarized as follows (dollar amounts in thousands): December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 189,609 $ (122,130 ) $ 67,479 10.7 Customer relationships 228,656 (104,386 ) 124,270 15.5 Customer backlog 6,862 (2,254 ) 4,608 0.7 Trademarks and trade names 23,976 (12,371 ) 11,605 10.5 Amortizable intangible assets 449,103 (241,141 ) 207,962 13.3 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 462,130 $ (241,141 ) $ 220,989 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 164,430 $ (110,572 ) $ 53,858 8.8 Customer relationships 167,429 (92,892 ) 74,537 10.9 Trademarks and trade names 18,367 (11,268 ) 7,099 7.8 Amortizable intangible assets 350,226 (214,732 ) 135,494 9.9 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 363,253 $ (214,732 ) $ 148,521
Amortization Expense of Intangible Assets	Amortization expense was as follows (in thousands): Year Ended December 31, 2021 2020 2019 Amortization expense – cost of revenue $ 13,288 $ 11,123 $ 10,588 Amortization expense – operating expenses 16,577 13,970 15,857 Total amortization expense $ 29,865 $ 25,093 $ 26,445
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 2022 $ 13,749 $ 27,071 $ 40,820 2023 12,451 20,935 33,386 2024 10,100 17,575 27,675 2025 8,529 14,867 23,396 2026 7,108 12,659 19,767 Thereafter 15,542 47,376 62,918 Total $ 67,479 $ 140,483 $ 207,962

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 (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 $ 1,711 $ 1,711 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 137 — 137 — $ 1,848 $ 1,711 $ 137 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 47,522 $ — $ — $ 47,522 Foreign currency forward contracts 160 — 160 — Other liabilities: Contingent considerations - Long-term 3,402 — — 3,402 $ 51,084 $ — $ 160 $ 50,924 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, 2020 (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 $ 11,047 $ 11,047 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 27 — 27 — $ 11,074 $ 11,047 $ 27 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 4,280 $ — $ — $ 4,280 Foreign currency forward contracts — — — — Other liabilities: Contingent considerations - Long-term 7,276 — — 7,276 $ 11,556 $ — $ — $ 11,556
Changes in Fair Value of Level 3 Contingent Considerations	Changes in the fair value of Level 3 contingent considerations for the year ended December 31, 2021 were as follows (in thousands): Contingent Considerations Balance at December 31, 2020 $ 11,556 Acquisition of ATI 44,000 Fair value adjustments (99 ) Payments (4,036 ) Effect of foreign exchange rates (497 ) Balance at December 31, 2021 $ 50,924
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table provides qualitative information associated with the fair value measurement of the Company’s Level 3 liabilities: Liability December 31, 2021 Fair Value (in thousands) Valuation Technique Unobservable Inputs Percentage Applied Contingent consideration (ATI) $44,000 Monte Carlo method Historical and projected Adjusted EBITDA for the full year 2021 N/A EBITDA risk premium 7.2% EBITDA volatility 27.0% Credit spread 2.1% Contingent consideration (ARGES) $3,789 Monte Carlo method Historical and projected revenues from July 2019 through December 2026 N/A Revenue volatility 14.0% Cost of debt 3.0% Discount rate 1.9% Contingent consideration (Ingenia) $1,736 Monte Carlo method Historical and projected revenues from April 2019 through March 2022 N/A Revenue volatility 38.5% Cost of debt 3.1% Discount rate 9.6% Contingent consideration (Other) $1,399 Discounted cash flow method Historical and projected revenues for fiscal years 2018 to 2021 N/A Discount rate 22.8%

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Common Share	The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share amounts): Year Ended December 31, 2021 (1) 2020 (2) 2019 (3) Numerators: Consolidated net income $ 50,331 $ 44,521 $ 40,773 Denominators: Weighted average common shares outstanding— basic 35,396 35,144 35,030 Dilutive potential common shares 385 510 516 Weighted average common shares outstanding— diluted 35,781 35,654 35,546 Antidilutive potential common shares excluded from above 13 13 41 Earnings per Common Share: Basic $ 1.42 $ 1.27 $ 1.16 Diluted $ 1.41 $ 1.25 $ 1.15 (1) For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021. (2) For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020. (3) For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.

Supplementary Balance Sheet I_2

Supplementary Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Inventories	Inventories December 31, 2021 2020 Raw materials $ 84,038 $ 55,657 Work-in-process 20,600 15,487 Finished goods 19,486 20,234 Demo and consigned inventory 1,533 1,359 Total inventories $ 125,657 $ 92,737
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net December 31, 2021 2020 Cost: Land, buildings and improvements $ 78,906 $ 71,341 Machinery and equipment 98,687 93,494 Total cost 177,593 164,835 Accumulated depreciation (90,154 ) (86,159 ) Property, plant and equipment, net $ 87,439 $ 78,676
Summary of Depreciation Expense on Property, Plant and Equipment, Including Demo Units and Assets under Finance Leases	The following table summarizes depreciation expense on property, plant and equipment, including demo units and assets under finance leases (in thousands): Year Ended December 31, 2021 2020 2019 Depreciation expense $ 13,529 $ 13,200 $ 11,835
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, 2021 2020 Accrued compensation and benefits $ 24,725 $ 12,510 Accrued contingent considerations and earn-outs 47,522 10,796 Finance lease obligations 599 9,720 Contract liabilities, current portion 6,995 6,173 Accrued warranty 4,783 4,919 Other 13,855 9,662 Total $ 98,479 $ 53,780
Accrued Warranty	The following table summarizes changes in accrued warranty for the periods indicated (in thousands): Year Ended December 31, 2021 2020 2019 Balance at beginning of year $ 4,919 $ 5,756 $ 4,510 Provision charged to cost of revenue 1,410 1,838 2,360 Warranty liabilities acquired from acquisitions 874 — 142 Use of provision (2,326 ) (2,805 ) (1,282 ) Foreign currency exchange rate changes (94 ) 130 26 Balance at end of year $ 4,783 $ 4,919 $ 5,756
Other Long Term Liabilities	The following table summarizes other long term liabilities as of the dates indicated (in thousands): December 31, 2021 2020 Finance lease obligations $ 5,309 $ 5,908 Accrued pension liabilities — 1,511 Accrued contingent considerations and earn-outs 3,402 7,276 Other 927 2,471 Total $ 9,638 $ 17,166

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt consisted of the following (in thousands): December 31, 2021 2020 Senior Credit Facilities – term loan $ 5,126 $ 5,545 Less: unamortized debt issuance costs (29 ) (37 ) Total current portion of long-term debt 5,097 5,508 Senior Credit Facilities – term loan 86,879 99,534 Senior Credit Facilities – revolving credit facility 346,579 99,761 Less: unamortized debt issuance costs (4,097 ) (4,368 ) Total long-term debt 429,361 194,927 Total Senior Credit Facilities $ 434,458 $ 200,435
Repayments of Outstanding Principal under Term Loan Facility	As of December 31, 2021, the outstanding principal under the Company’s term loan facility is scheduled to be repaid as follows (in thousands): Principal Amount 2022 $ 5,126 2023 5,126 2024 81,753 Total debt repayments $ 92,005

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Summary of Components of Lease Costs	The following table summarizes the components of lease costs included in the statements of operations for the periods indicated (in thousands): Year Ended December 31, 2021 2020 2019 Operating lease cost $ 8,533 $ 7,693 $ 7,638 Finance lease cost Amortization of right-of-use assets 602 989 831 Interest on lease liabilities 340 432 430 Variable lease cost 1,074 1,336 1,329 Total lease cost $ 10,549 $ 10,450 $ 10,228
Summary of Balance Sheet Information Related to Leases	The following table provides the details of balance sheet information related to leases as of the dates indicated (in thousands, except lease term and discount rate): December 31, 2021 2020 Operating leases: Operating lease right-of-use assets $ 48,338 $ 34,444 Current portion of operating lease liabilities $ 7,334 $ 6,188 Operating lease liabilities 45,700 32,802 Total operating lease liabilities $ 53,034 $ 38,990 Finance leases: Property, plant and equipment, gross $ 9,582 $ 19,819 Accumulated depreciation (5,068 ) (4,934 ) Finance lease assets included in property, plant and equipment, net $ 4,514 $ 14,885 Accrued expenses and other current liabilities $ 599 $ 9,720 Other liabilities 5,309 5,908 Total finance lease liabilities $ 5,908 $ 15,628 Weighted-average remaining lease term (in years): Operating leases 9.0 9.3 Finance leases 7.5 3.5 Weighted-average discount rate: Operating leases 4.72 % 5.50 % Finance leases 5.54 % 3.00 %
Summary of Cash Flow Information Related to Leases	The following table provides the details of cash flow information related to leases for the periods indicated (in thousands): Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in lease liabilities: Operating cash flows from finance leases $ 340 $ 432 $ 430 Operating cash flows from operating leases $ 7,818 $ 6,760 $ 7,768 Financing cash flows from finance leases $ 9,310 $ 1,321 $ 868 Supplemental non-cash information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 22,574 $ 4,290 $ 7,723 Right-of-use assets obtained in exchange for new finance lease liabilities $ - $ - $ 9,209
Future Minimum Lease Payments Under Operating and Finance Leases	Future minimum lease payments under operating and finance leases expiring subsequent to December 31, 2021, 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 Ending December 31, Operating Leases Finance Leases 2022 $ 9,152 $ 907 2023 8,419 930 2024 7,711 954 2025 7,673 954 2026 6,585 979 Thereafter 27,577 2,508 Total minimum lease payments 67,117 7,232 Less: interest (14,083 ) (1,324 ) Present value of lease liabilities $ 53,034 $ 5,908

Stockholders_ Equity and Shar_2

Stockholders’ Equity and Share-Based Compensation (Tables) - Amended and Restated 2010 Incentive Plan	12 Months Ended
	Dec. 31, 2021
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, 2021 2020 2019 Selling, general and administrative $ 17,255 $ 14,550 $ 8,361 Research and development and engineering 2,294 3,301 497 Cost of revenue 3,008 4,684 482 Restructuring and acquisition related costs 3,049 584 — Total share-based compensation expense $ 25,606 $ 23,119 $ 9,340
Restricted Stock Units and Deferred Stock Units Issued and Outstanding	The table below summarizes activities during 2021 relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan: 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, 2020 625 $ 58.79 Granted 176 $ 137.90 Vested (487 ) $ 51.38 Forfeited (22 ) $ 104.98 Unvested at December 31, 2021 292 $ 115.42 0.95 years $ 51,442 Expected to vest as of December 31, 2021 277 $ 115.17 0.95 years $ 48,822 (1) The aggregate intrinsic value is calculated based on the fair value of $176.33 per share of the Company’s common stock on December 31, 2021 due to the fact that the restricted stock units carry a $0 purchase price.
Performance-Based Stock Awards Issued and Outstanding	The table below summarizes activities during 2021 relating to performance-based stock awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan: 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, 2020 142 $ 88.99 Granted 67 $ 150.89 Performance adjustment (3) 28 $ 67.72 Vested (75 ) $ 64.25 Forfeited — $ — Unvested at December 31, 2021 162 $ 122.26 1.55 years $ 28,461 Expected to vest as of December 31, 2021 197 $ 130.33 1.55 years $ 34,749 (1) The unvested PSUs are shown in this table at target. The number of shares vested reflects the number of shares earned and issued during the year. As of December 31, 2021, the maximum number of PSUs available to be earned was approximately 286 thousand. (2) The aggregate intrinsic value is calculated based on the fair value of $176.33 per share of the Company’s common stock on December 31, 2021 due to the fact that the performance stock units carry a $0 purchase price. (3) The amount shown represents performance adjustments for performance-based awards granted on February 22, 2018. These awards vested at 160% of target number of shares during 2021 based on the achievement of cumulative Non-GAAP EPS and applicable relative TSR performance conditions during the performance period of fiscal years 2018 through 2020.
Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions	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, 2021 Grant-date stock price $ 138.23 Expected volatility 42.44 % Risk-free interest rate 0.22 % Expected annual dividend yield — Weighted average fair value $ 166.64
Stock Options Outstanding and Exercisable	The following table shows stock options that were outstanding and exercisable as of December 31, 2021 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 (In years) Aggregate Intrinsic Value (1) (In thousands) Stock options outstanding 60 $ 14.13 4.25 $ 9,753 Stock options exercisable 60 $ 14.13 4.25 $ 9,753 (1) The aggregate intrinsic value is calculated as

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Net Periodic Pension Cost	The net periodic pension cost is included in other income (expense) in the consolidated statements of operations and consisted of the following components (in thousands): Year Ended December 31, 2021 2020 2019 Components of the net periodic pension cost: Interest cost $ 554 $ 736 $ 971 Expected return on plan assets (1,120 ) (1,340 ) (1,671 ) Amortization of actuarial losses 928 686 957 Amortization of prior service cost 31 29 29 Net periodic pension cost $ 393 $ 111 $ 286
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, 2021, 2020 and 2019, respectively, were as follows: Year Ended December 31, 2021 2020 2019 Weighted-average discount rate 1.2 % 1.9 % 2.7 % Weighted-average long-term rate of return on plan assets 2.5 % 3.6 % 5.1 % The actuarial assumptions used to compute the benefit obligations as of December 31, 2021 and 2020, respectively, were as follows: December 31, 2021 2020 Weighted-average discount rate 1.8 % 1.2 % Rate of inflation 3.2 % 2.6 %
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, 2021 2020 Change in benefit obligation: Projected benefit obligation at beginning of year $ 47,200 $ 40,456 Interest cost 554 736 Actuarial (gains) losses (1) (3,303 ) 5,410 Benefits paid (2,679 ) (1,111 ) Prior service cost 36 — Foreign currency exchange rate changes (410 ) 1,709 Projected benefit obligation at end of year $ 41,398 $ 47,200 Accumulated benefit obligation at end of year $ 41,398 $ 47,200 Change in plan assets: Fair value of plan assets at beginning of year $ 45,689 $ 38,983 Actual return on plan assets 592 5,170 Employer contributions 1,055 988 Benefits paid (2,679 ) (1,111 ) Foreign currency exchange rate changes (470 ) 1,659 Fair value of plan assets at end of year $ 44,187 $ 45,689 Funded status at end of year $ 2,789 $ (1,511 ) Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost: Net actuarial losses at beginning of year $ (10,958 ) $ (9,706 ) Net actuarial gains (losses) during the year 2,775 (1,580 ) Prior service cost arising during the year (36 ) - Amounts reclassified from accumulated other comprehensive income to income before income taxes 959 715 Foreign currency exchange rate changes 54 (387 ) Net actuarial losses $ (7,206 ) $ (10,958 ) (1)
Expected Future Benefit Payments for Each of Next Five Years	The following table reflects the total expected benefit payments to plan participants for each of the next five years and the following five years in aggregate and have been estimated based on the same assumptions used to measure the Company’s benefit obligations as of December 31, 2021 (in thousands): Amount 2022 $ 1,090 2023 1,198 2024 1,567 2025 1,447 2026 1,677 2027-2031 9,765 Total $ 16,744
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, 2021 (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) $ 30,774 $ — $ — $ — $ 30,774 Fixed income (2) 13,250 — — — 13,250 Cash 163 163 — — — Total $ 44,187 $ 163 $ — $ — $ 44,024 (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 (35%), bonds (39%), other assets (21%) and cash (5%). (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 (88%), other assets (6%), and cash (6)%. The following table summarizes the fair values of Plan assets by asset category as of December 31, 2020 (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) $ 31,572 $ — $ — $ — $ 31,572 Fixed income (2) 13,251 — — — 13,251 Cash 866 866 — — — Total $ 45,689 $ 866 $ — $ — $ 44,823 (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 (35%), bonds (37%), other assets (19%) and cash (9%). (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 (83%), other assets (16%) and cash (1%).

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 2020 2019 Income (loss) before income taxes: Canada $ (1,371 ) $ (2,278 ) $ 78 U.S. 19,168 16,875 25,577 Other 38,375 33,806 20,111 Total $ 56,172 $ 48,403 $ 45,766
Components of Income Tax Provision (Benefit)	Components of the Company’s income tax provision (benefit) are as follows (in thousands): Year Ended December 31, 2021 2020 2019 Current Canada $ 95 $ 82 $ 100 U.S. 205 1,324 1,109 Other 9,486 6,589 8,116 9,786 7,995 9,325 Deferred Canada 493 (493 ) — U.S. (2,133 ) (1,256 ) 703 Other (2,305 ) (2,364 ) (5,035 ) (3,945 ) (4,113 ) (4,332 ) Total $ 5,841 $ 3,882 $ 4,993
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, 2021 2020 2019 Statutory Canadian tax rate 29.00 % 29.00 % 29.00 % Expected income tax provision at Canadian statutory tax rate $ 16,291 $ 14,037 $ 13,272 International tax rate differences (3,621 ) (3,483 ) (3,346 ) U.S. state income taxes, net (249 ) (108 ) 386 Withholding and other taxes 429 485 364 Permanent differences and other 921 259 443 Disallowed compensation 1,111 685 - Foreign-derived intangible income (1,211 ) (1,063 ) (787 ) Tax credits (1,408 ) (2,016 ) (1,457 ) Statutory tax rate changes 489 429 35 Uncertain tax positions (472 ) (176 ) 310 Change in valuation allowance 918 (727 ) (482 ) Acquisition contingent consideration adjustments 87 (1,513 ) 287 Transaction costs 248 (23 ) 247 Provision to return differences 33 750 (516 ) Windfall benefit from share-based compensation (5,131 ) (2,322 ) (1,717 ) UK patent box (2,594 ) (1,332 ) (2,046 ) Reported income tax provision $ 5,841 $ 3,882 $ 4,993 Effective tax rate 10.4 % 8.0 % 10.9 %
Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2021 and 2020 are as follows (in thousands): December 31, 2021 2020 Deferred tax assets: Losses $ 9,358 $ 8,524 Operating lease liabilities 12,200 10,216 Compensation related deductions 6,795 5,955 Inventories 6,594 5,090 Tax credits 2,786 2,958 Restructuring related liabilities 206 185 Warranty 700 720 Other 197 957 Total deferred tax assets 38,836 34,605 Valuation allowance on deferred tax assets (12,608 ) (11,561 ) Net deferred tax assets $ 26,228 $ 23,044 Deferred tax liabilities: Depreciation $ (2,585 ) $ (1,583 ) Amortization (32,117 ) (24,772 ) Unrealized currency gains/losses - (372 ) Operating lease right-of-use assets (11,667 ) (9,960 ) Deferred revenue (1,391 ) — Total deferred tax liabilities $ (47,760 ) $ (36,687 ) Net deferred income tax assets (liabilities) $ (21,532 ) $ (13,643 )
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, 2018 $ 4,725 Additions based on tax positions related to the current year 727 Additions for tax positions of prior years 5 Reductions to tax positions of prior years (31 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (497 ) Settlements with tax authorities — Balance at December 31, 2019 4,929 Additions based on tax positions related to the current year 476 Additions for tax positions of prior years 356 Reductions to tax positions of prior years (5 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (498 ) Settlements with tax authorities — Balance at December 31, 2020 5,258 Additions based on tax positions related to the current year 1,162 Additions for tax positions of prior years 9 Reductions to tax positions of prior years (41 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations (1,591 ) Settlements with tax authorities — Balance at December 31, 2021 $ 4,797
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 2018 - Present Canada 2017 - Present United Kingdom 2020 - Present Germany 2017 - Present The Netherlands 2017 - Present China 2012 - Present Japan 2016 - Present

Restructuring and Acquisition_2

Restructuring and Acquisition Related Costs (Tables)	12 Months Ended
	Dec. 31, 2021
Restructuring And Related Activities [Abstract]
Schedule of Restructuring and Acquisition Related Costs	The following table summarizes restructuring and acquisition related costs recorded in the accompanying consolidated statements of operations (in thousands): Year Ended December 31, 2021 2020 2019 2020 restructuring $ 8,133 $ 2,736 $ — 2019 restructuring 208 988 7,463 2018 restructuring - 753 1,177 Total restructuring related charges $ 8,341 $ 4,477 $ 8,640 Acquisition and related charges $ 9,679 $ (667 ) $ 7,934 Total restructuring and acquisition related costs $ 18,020 $ 3,810 $ 16,574
Summary of Restructuring Charges by Reportable Segment	The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2021 2020 December 31, 2021 Photonics $ 3,085 $ 740 $ 3,825 Vision 813 1,330 2,143 Precision Motion 4,206 524 4,730 Unallocated Corporate and Shared Services 29 142 171 Total $ 8,133 $ 2,736 $ 10,869
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 Employee Related Facility Related Other Balance at December 31, 2019 $ 2,073 $ 1,988 $ — $ 85 Restructuring charges 4,477 3,506 503 468 Cash payments (4,024 ) (3,229 ) (115 ) (680 ) Non-cash write-offs and other adjustments (726 ) (584 ) (272 ) 130 Balance at December 31, 2020 1,800 1,681 116 3 Restructuring charges 8,341 6,462 1,309 570 Cash payments (3,727 ) (2,898 ) (226 ) (603 ) Non-cash write-offs and other adjustments (1) (3,728 ) (3,138 ) (649 ) 59 Balance at December 31, 2021 $ 2,686 $ 2,107 $ 550 $ 29 ( 1 ) Non-cash charges included stock-based compensation charges amounting to $3.0 million associated with severance agreements for certain employees.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
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 were as follows (in thousands): Year Ended December 31, 2021 2020 2019 Revenue Photonics $ 232,459 $ 199,613 $ 230,457 Vision 262,060 261,650 271,407 Precision Motion 212,274 129,360 124,235 Total $ 706,793 $ 590,623 $ 626,099 Year Ended December 31, 2021 2020 2019 Gross Profit Photonics $ 107,993 $ 89,060 $ 105,845 Vision 100,890 100,267 105,228 Precision Motion 99,345 58,279 53,326 Unallocated Corporate and Shared Services (7,900 ) (3,089 ) (2,314 ) Total $ 300,328 $ 244,517 $ 262,085 Year Ended December 31, 2021 2020 2019 Operating Income (Loss) Photonics $ 46,792 $ 34,001 $ 41,990 Vision 17,694 16,354 21,007 Precision Motion 52,676 31,663 22,339 Unallocated Corporate and Shared Services (53,108 ) (26,130 ) (30,054 ) Total $ 64,054 $ 55,888 $ 55,282 Year Ended December 31, 2021 2020 2019 Depreciation and Amortization Expenses Photonics $ 11,600 $ 11,261 $ 12,139 Vision 20,812 21,374 21,161 Precision Motion 10,728 5,443 4,712 Unallocated Corporate and Shared Services 254 215 268 Total $ 43,394 $ 38,293 $ 38,280 December 31, 2021 2020 Accounts Receivable Photonics $ 31,392 $ 27,328 Vision 44,078 33,194 Precision Motion 40,147 14,532 Total accounts receivable $ 115,617 $ 75,054 Inventories Photonics $ 49,146 $ 35,878 Vision 34,621 41,137 Precision Motion 41,890 15,722 Total inventories $ 125,657 $ 92,737 Total segment assets $ 241,274 $ 167,791 December 31, 2021 2020 Total Assets Total segment assets $ 241,274 $ 167,791 Cash and cash equivalents 117,393 125,054 Prepaid income taxes and income taxes receivable 1,997 3,203 Prepaid expenses and other current assets 13,161 8,125 Property, plant and equipment, net 87,439 78,676 Operating lease assets 48,338 34,444 Deferred tax assets 12,206 10,491 Other assets 5,586 2,894 Intangible assets, net 220,989 148,521 Goodwill 479,500 285,980 Total $ 1,227,883 $ 865,179
Schedule of Geographic Revenue	The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is summarized as follows (in thousands, except percentage data): Year Ended December 31, 2021 2020 2019 Revenue % of Total Revenue % of Total Revenue % of Total United States $ 270,833 38.4 % $ 225,760 38.2 % $ 254,279 40.6 % Germany 101,865 14.4 83,765 14.2 82,032 13.1 Rest of Europe 138,863 19.6 127,040 21.5 129,643 20.7 China 95,045 13.4 70,557 11.9 59,512 9.5 Rest of Asia-Pacific 89,198 12.6 74,334 12.6 89,588 14.3 Other 10,989 1.6 9,167 1.6 11,045 1.8 Total $ 706,793 100.0 % $ 590,623 100.0 % $ 626,099 100.0 %
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, 2021 2020 United States $ 27,587 $ 25,436 Germany 33,344 36,314 U.K. 15,059 9,447 Rest of Europe 4,754 5,312 China 6,521 1,809 Rest of Asia-Pacific 174 358 Total $ 87,439 $ 78,676
Revenue By End Market	The Company primarily operates in two end markets: the medical market and the advanced industrial market. Revenue by end market was approximately as follows: Year Ended December 31, 2021 2020 2019 Medical 52 % 56 % 55 % Advanced Industrial 48 % 44 % 45 % Total 100 % 100 % 100 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021
Maximum
Significant Accounting Policies [Line Items]
Cash equivalents original maturity period	3 months
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 | Buildings and improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	10 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, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance For Doubtful Accounts Receivable Rollforward
Balance at beginning of year	$ 274	$ 297	$ 321
Addition to credit loss expense	121	158	33
Credit loss resulting from acquisitions	216		120
Write-offs, net of recoveries of amounts previously reserved	(45)	(207)	(179)
Exchange rate changes	(10)	26	2
Balance at end of year	$ 556	$ 274	$ 297

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue [Line Items]
Incremental direct costs of obtaining a contract, practical expedient	true
Effects of a financing component, practical expedient	true
Remaining performance obligation for contracts, optional exemption	true
Adoption of Topic 606
Revenue [Line Items]
Contract liabilities	$ 7.3	$ 6.5
Revenue recognized		$ 5.6
Adoption of Topic 606 | From Current Year Acquisitions
Revenue [Line Items]
Contract liabilities	$ 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 36 months. 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.
Minimum | Warranties
Revenue [Line Items]
Standard warranty period on products	12 months
Maximum | Warranties
Revenue [Line Items]
Standard warranty period on products	36 months
Maximum | Maintenance and Repair of Products
Revenue [Line Items]
Percentage of revenue for professional services	3.00%
Duration of professional services performed under customer contract	1 month

Business Combinations - 2021 Ac

Business Combinations - 2021 Acquisitions - Additional Information (Details) - USD ($)	Aug. 31, 2021	Aug. 30, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase price						$ 284,728,000		$ 53,143,000
Contingent consideration adjustments						(99,000)	$ (6,632,000)	$ 100,000
Goodwill			$ 479,500,000	$ 479,500,000		479,500,000	$ 285,980,000
Revenues					$ 4,900,000
Income (loss) before income taxes					(3,500,000)
Amortization of inventory fair value adjustments and purchased intangible assets					$ 2,200,000
ATI Industrial Automation, Inc.
Business Acquisition [Line Items]
Percentage of shares acquired		100.00%
Purchase price		$ 169,200,000
Business acquisition, date of acquisition		Aug. 30, 2021
Fair value of contingent consideration		$ 44,000,000	44,000,000	44,000,000		44,000,000
Working capital adjustments estimated cash receipt						800,000
Contingent consideration adjustments						7,900,000
Intangible assets		52,800,000	400,000	400,000		400,000
Goodwill		134,420,000	8,300,000	8,300,000		$ 8,300,000
Goodwill assets expected to be deductible for income tax purposes		$ 134,400,000
Revenues				34,000,000
Income (loss) before income taxes				3,400,000
Amortization of inventory fair value adjustments and purchased intangible assets				3,500,000
Schneider Electric Motion USA, Inc.
Business Acquisition [Line Items]
Percentage of shares acquired	100.00%
Purchase price	$ 114,700,000
Business acquisition, date of acquisition	Aug. 31, 2021
Intangible assets	$ 54,570,000
Goodwill	68,291,000
Goodwill assets expected to be deductible for income tax purposes	$ 0
Revenues				9,100,000
Income (loss) before income taxes				$ 300,000
Amortization of inventory fair value adjustments and purchased intangible assets			$ 1,800,000

Summary of Fair Values of Asset

Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation (Details) $ in Thousands, € in Millions	Aug. 31, 2021USD ($)	Aug. 30, 2021USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2019EUR (€)	Jun. 05, 2019USD ($)	Apr. 16, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Jul. 31, 2019EUR (€)
Business Acquisition [Line Items]
Goodwill							$ 479,500		$ 285,980
ATI Industrial Automation, Inc.
Business Acquisition [Line Items]
Cash		$ 10,709
Accounts receivable		12,596
Inventories		18,151
Property, plant and equipment		4,618
Operating lease assets		11,263
Intangible assets		52,800					400
Goodwill		134,420					8,300
Other assets		229
Total assets acquired		244,786
Accounts payable		5,135
Current portion of operating lease liabilities		1,740
Operating lease liabilities		9,525
Other liabilities		4,452
Total liabilities assumed		20,852
Total assets acquired, net of liabilities assumed		223,934
Less: cash acquired		10,709
Less: contingent consideration		44,000					44,000
Initial purchase price, net of cash acquired		$ 169,225
Schneider Electric Motion USA, Inc.
Business Acquisition [Line Items]
Cash	$ 3,881
Accounts receivable	4,240
Inventories	2,499
Property, plant and equipment	452
Intangible assets	54,570
Goodwill	68,291
Other assets	776
Total assets acquired	134,709
Accounts payable	1,325
Other liabilities	2,420
Deferred tax liabilities	12,400
Total liabilities assumed	16,145
Total assets acquired, net of liabilities assumed	118,564
Less: cash acquired	3,881
Total purchase price, net of cash acquired	$ 114,683
ARGES GmbH
Business Acquisition [Line Items]
Cash			$ 3,159
Accounts receivable			1,430
Inventories			7,129
Property, plant and equipment			14,095
Intangible assets			24,713
Goodwill			42,951
Other assets			2,244
Total assets acquired			95,721
Accounts payable			2,598
Other liabilities			14,462
Deferred tax liabilities			5,510
Total liabilities assumed			22,570
Total assets acquired, net of liabilities assumed			73,151								€ 65.7
Less: cash acquired			3,159
Total purchase price, net of cash acquired			69,992
Less: contingent consideration			7,900				3,800	€ 3.3	$ 5,100	€ 4.1	7.1
Less: issuance of common shares			10,900	€ 9.8
Less: deferred cash consideration			27,664							€ 25	€ 24.8
Initial purchase price, net of cash acquired			$ 23,558
Med X Change, Inc and Ingenia-CAT, S.L.
Business Acquisition [Line Items]
Cash					$ 1,000	$ 1,000
Accounts receivable					1,739	1,739
Inventories					2,372	2,372
Property, plant and equipment					496	496
Intangible assets					22,376	22,376	22,400
Goodwill					13,388	13,388	$ 13,400
Other assets					601	601
Total assets acquired					41,972	41,972
Accounts payable					604	604
Other liabilities					910	910
Deferred tax liabilities					2,399	2,399
Total liabilities assumed					3,913	3,913
Total assets acquired, net of liabilities assumed					38,059	38,059
Less: cash acquired					1,000	1,000
Total purchase price, net of cash acquired					37,059	37,059
Less: contingent consideration					6,569	6,569
Less: purchase price holdback					905	905
Initial purchase price, net of cash acquired					$ 29,585	$ 29,585

Fair Value of Intangible Assets

Fair Value of Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2021	Aug. 30, 2021	Jul. 31, 2019	Jun. 05, 2019	Apr. 16, 2019	Dec. 31, 2021
ATI Industrial Automation, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 52,800				$ 400
Schneider Electric Motion USA, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 54,570
ARGES GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 24,713
Med X Change, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value				$ 12,200
Ingenia-CAT, S.L.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value					$ 10,176
Developed Technologies | ATI Industrial Automation, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 19,800
Intangible Assets Weighted Average Amortization Period		15 years
Developed Technologies | Schneider Electric Motion USA, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 9,110
Intangible Assets Weighted Average Amortization Period	15 years
Developed Technologies | ARGES GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 11,355
Intangible Assets Weighted Average Amortization Period			15 years
Developed Technologies | Med X Change, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value				$ 1,800
Intangible Assets Weighted Average Amortization Period				10 years
Developed Technologies | Ingenia-CAT, S.L.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value					$ 9,272
Intangible Assets Weighted Average Amortization Period					10 years
Customer Relationships | ATI Industrial Automation, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 23,900
Intangible Assets Weighted Average Amortization Period		15 years
Customer Relationships | Schneider Electric Motion USA, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 41,740
Intangible Assets Weighted Average Amortization Period	20 years
Customer Relationships | ARGES GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 11,800
Intangible Assets Weighted Average Amortization Period			15 years
Customer Relationships | Med X Change, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value				$ 9,900
Intangible Assets Weighted Average Amortization Period				15 years
Customer Relationships | Ingenia-CAT, S.L.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value					$ 565
Intangible Assets Weighted Average Amortization Period					15 years
Trademarks and Trade Names | ATI Industrial Automation, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 5,600
Intangible Assets Weighted Average Amortization Period		15 years
Trademarks and Trade Names | Schneider Electric Motion USA, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 370
Intangible Assets Weighted Average Amortization Period	4 years
Trademarks and Trade Names | ARGES GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 1,225
Intangible Assets Weighted Average Amortization Period			10 years
Trademarks and Trade Names | Med X Change, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value				$ 300
Intangible Assets Weighted Average Amortization Period				9 years
Trademarks and Trade Names | Ingenia-CAT, S.L.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value					$ 339
Intangible Assets Weighted Average Amortization Period					9 years
Backlog | ATI Industrial Automation, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value		$ 3,500
Intangible Assets Weighted Average Amortization Period		1 year
Backlog | Schneider Electric Motion USA, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 3,350
Intangible Assets Weighted Average Amortization Period	1 year
Backlog | ARGES GmbH
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value			$ 333
Intangible Assets Weighted Average Amortization Period			5 months
Backlog | Med X Change, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value				$ 200
Intangible Assets Weighted Average Amortization Period				7 months
Backlog | Ingenia-CAT, S.L.
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Weighted Average Amortization Period					7 months

Summary of Unaudited Pro Forma

Summary of Unaudited Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Combinations [Abstract]
Revenue	$ 783,011	$ 682,626
Consolidated net income	$ 52,420	$ 33,376

Business Combinations - 2019 Ac

Business Combinations - 2019 Acquisitions - Additional Information (Details) $ / shares in Units, shares in Thousands	Jul. 31, 2019USD ($)shares	Jul. 31, 2019EUR (€)shares	Jun. 05, 2019USD ($)	Apr. 16, 2019USD ($)	Apr. 16, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Jul. 31, 2019EUR (€)	Jul. 30, 2019$ / shares	Apr. 16, 2019EUR (€)
Business Acquisition [Line Items]
Goodwill								$ 479,500,000		$ 285,980,000
Revenues						$ 4,900,000
Income (loss) before income taxes						(3,500,000)
Amortization of inventory fair value adjustments and purchased intangible assets						$ 2,200,000
ARGES GmbH
Business Acquisition [Line Items]
Percentage of shares acquired	100.00%											100.00%
Purchase price	$ 73,151,000											€ 65,700,000
Business acquisition, date of acquisition	Jul. 31, 2019	Jul. 31, 2019
Cash consideration	$ 26,700,000	€ 24,000,000
Businesses combination in common shares	$ 10,900,000	€ 9,800,000
Business combination number of shares acquired | shares	124	124
Business acquisition, closing market price per share | $ / shares													$ 87.58
Fair value of contingent consideration	$ 7,900,000							3,800,000	€ 3,300,000	5,100,000	€ 4,100,000	7,100,000
Deferred cash consideration	27,664,000										25,000,000	24,800,000
Undiscounted low range of contingent consideration | €												0
Undiscounted high range of contingent consideration	11,100,000											€ 10,000,000
Intangible assets	24,713,000
Goodwill	42,951,000
Goodwill assets expected to be deductible for income tax purposes	$ 0
Med X Change, Inc
Business Acquisition [Line Items]
Percentage of shares acquired			100.00%
Cash consideration			$ 21,900,000
Intangible assets			12,200,000
Goodwill assets expected to be deductible for income tax purposes			6,200,000
Med X Change, Inc | Revolving Credit Facility
Business Acquisition [Line Items]
Amount borrowing under finance acquisition			21,000,000
Ingenia-CAT, S.L.
Business Acquisition [Line Items]
Percentage of shares acquired				100.00%										100.00%
Purchase price				$ 16,200,000										€ 14,300,000
Cash consideration				9,600,000	€ 8,500,000
Fair value of contingent consideration				6,600,000				1,700,000	€ 1,500,000	$ 2,900,000	€ 2,300,000			5,800,000
Undiscounted low range of contingent consideration | €														0
Undiscounted high range of contingent consideration				9,000,000										8,000,000
Purchase price heldback				$ 900,000										€ 800,000
Expiration period				2020-10	2020-10
Intangible assets				$ 10,176,000
Goodwill assets expected to be deductible for income tax purposes				7,200,000
Med X Change, Inc and Ingenia-CAT, S.L.
Business Acquisition [Line Items]
Purchase price			38,059,000	38,059,000
Fair value of contingent consideration			6,569,000	6,569,000
Purchase price heldback			905,000	905,000
Intangible assets			22,376,000	22,376,000				22,400,000
Goodwill			$ 13,388,000	$ 13,388,000				$ 13,400,000
Revenues							$ 7,900,000
Income (loss) before income taxes							600,000
Amortization of inventory fair value adjustments and purchased intangible assets							$ 1,500,000

Business Combinations - Acquisi

Business Combinations - Acquisition Costs - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Recognized acquisition costs	$ 9,679,000	$ (667,000)	$ 7,934,000
Current Year Closed Acquisition
Business Acquisition [Line Items]
Recognized acquisition costs	$ 5,000,000	$ 0	$ 1,600,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		$ 476,809
Other comprehensive income (loss)		(1,584)	$ 5,157	$ 3,428
Amounts reclassified from accumulated other comprehensive loss	[1]	959	715	986
Ending Balance		521,291	476,809
Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(12,241)	(18,113)	(22,527)
Ending Balance		(12,866)	(12,241)	(18,113)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(2,296)	(9,218)	(12,485)
Other comprehensive income (loss)		(3,457)	6,922	3,267
Ending Balance		(5,753)	(2,296)	(9,218)
Pension Liability Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(9,945)	(8,895)	(10,042)
Other comprehensive income (loss)		1,873	(1,765)	161
Amounts reclassified from accumulated other comprehensive loss	[1]	959	715	986
Ending Balance		$ (7,113)	$ (9,945)	$ (8,895)
[1]	The amounts reclassified from accumulated other comprehensive 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, 2021USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Balance at beginning of year	$ 285,980
Goodwill from current year acquisitions	202,711
Effect of foreign exchange rate changes	(9,191)
Balance at end of year	$ 479,500

Goodwill By Reportable Segment

Goodwill By Reportable Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 630,729	$ 437,209
Accumulated impairment of goodwill	(151,229)	(151,229)
Total	479,500	285,980
Photonics
Goodwill [Line Items]
Goodwill	214,564	218,517
Accumulated impairment of goodwill	(102,461)	(102,461)
Total	112,103	116,056
Vision
Goodwill [Line Items]
Goodwill	160,675	165,195
Accumulated impairment of goodwill	(31,722)	(31,722)
Total	128,953	133,473
Precision Motion
Goodwill [Line Items]
Goodwill	255,490	53,497
Accumulated impairment of goodwill	(17,046)	(17,046)
Total	$ 238,444	$ 36,451

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 449,103	$ 350,226
Amortizable intangible assets, accumulated amortization	(241,141)	(214,732)
Amortizable intangible assets, net carrying amount	$ 207,962	$ 135,494
Amortizable intangible assets, weighted average remaining life (Years)	13 years 3 months 18 days	9 years 10 months 24 days
Non-amortizable intangible assets	$ 13,027	$ 13,027
Gross carrying amount	462,130	363,253
Net carrying amount	220,989	148,521
Patents and Developed Technologies
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	189,609	164,430
Amortizable intangible assets, accumulated amortization	(122,130)	(110,572)
Amortizable intangible assets, net carrying amount	$ 67,479	$ 53,858
Amortizable intangible assets, weighted average remaining life (Years)	10 years 8 months 12 days	8 years 9 months 18 days
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 228,656	$ 167,429
Amortizable intangible assets, accumulated amortization	(104,386)	(92,892)
Amortizable intangible assets, net carrying amount	$ 124,270	$ 74,537
Amortizable intangible assets, weighted average remaining life (Years)	15 years 6 months	10 years 10 months 24 days
Customer Backlog
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 6,862
Amortizable intangible assets, accumulated amortization	(2,254)
Amortizable intangible assets, net carrying amount	$ 4,608
Amortizable intangible assets, weighted average remaining life (Years)	8 months 12 days
Trademarks and Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 23,976	$ 18,367
Amortizable intangible assets, accumulated amortization	(12,371)	(11,268)
Amortizable intangible assets, net carrying amount	$ 11,605	$ 7,099
Amortizable intangible assets, weighted average remaining life (Years)	10 years 6 months	7 years 9 months 18 days

Amortization Expense of Intangi

Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense – cost of revenue	$ 13,288	$ 11,123	$ 10,588
Amortization expense – operating expenses	16,577	13,970	15,857
Total amortization expense	$ 29,865	$ 25,093	$ 26,445

Estimated Future Amortization E

Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
2022	$ 40,820
2023	33,386
2024	27,675
2025	23,396
2026	19,767
Thereafter	62,918
Amortizable intangible assets, net carrying amount	207,962	$ 135,494
Cost of Revenue
Finite Lived Intangible Assets [Line Items]
2022	13,749
2023	12,451
2024	10,100
2025	8,529
2026	7,108
Thereafter	15,542
Amortizable intangible assets, net carrying amount	67,479
Operating Expenses
Finite Lived Intangible Assets [Line Items]
2022	27,071
2023	20,935
2024	17,575
2025	14,867
2026	12,659
Thereafter	47,376
Amortizable intangible assets, net carrying amount	$ 140,483

Goodwill, Intangible Assets a_3

Goodwill, Intangible Assets and Impairment Charges - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of goodwill and intangible assets	$ 0	$ 0	$ 0

Fair Value Measurements - Busin

Fair Value Measurements - Business Combination Contingent Consideration - Additional Information (Details)	1 Months Ended				9 Months Ended	12 Months Ended
	May 31, 2021USD ($)	May 31, 2021EUR (€)	May 31, 2020USD ($)	May 31, 2020EUR (€)	Oct. 02, 2020Installment	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2021EUR (€)	Aug. 30, 2021USD ($)	Dec. 31, 2020EUR (€)	Jul. 31, 2019USD ($)	Jul. 31, 2019EUR (€)	Apr. 16, 2019USD ($)	Apr. 16, 2019EUR (€)
Business Acquisition [Line Items]
Payment for contingent consideration						$ 1,836,000		$ 1,135,000
ATI Industrial Automation, Inc.
Business Acquisition [Line Items]
Fair value of contingent consideration						44,000,000				$ 44,000,000
ARGES GmbH
Business Acquisition [Line Items]
Fair value of contingent consideration						3,800,000		5,100,000	€ 3,300,000		€ 4,100,000	$ 7,900,000	€ 7,100,000
Undiscounted low range of contingent consideration | €													0
Undiscounted high range of contingent consideration												$ 11,100,000	€ 10,000,000
Payment for contingent consideration						400,000	€ 400,000
Changes in fair value of contingent consideration						0
Ingenia-CAT, S.L.
Business Acquisition [Line Items]
Fair value of contingent consideration						$ 1,700,000		$ 2,900,000	€ 1,500,000		€ 2,300,000			$ 6,600,000	€ 5,800,000
Undiscounted low range of contingent consideration | €															0
Undiscounted high range of contingent consideration														$ 9,000,000	€ 8,000,000
Payment for contingent consideration	$ 1,400,000	€ 1,200,000	$ 1,100,000	€ 1,000,000
Number of contingent consideration annual installments | Installment					3

Fair Value Measurements - Asset

Fair Value Measurements - Asset Acquisition Contingent Consideration - Additional Information (Details) $ in Thousands, € in Millions	1 Months Ended				3 Months Ended
	Feb. 28, 2021USD ($)	Feb. 28, 2021EUR (€)	Feb. 29, 2020USD ($)	Feb. 29, 2020EUR (€)	Apr. 02, 2021Installment	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 14, 2016USD ($)	Dec. 14, 2016EUR (€)
Asset Acquisition Contingent Consideration [Line Items]
Payment for contingent consideration	$ 2,200	€ 1.8	$ 2,600	€ 2.4
Video Signal Processing and Management Technologies
Asset Acquisition Contingent Consideration [Line Items]
Date of Acquisition Agreement					Dec. 14, 2016
Number of contingent consideration annual installments | Installment					4
Undiscounted range of outcomes, minimum | $								$ 0
Undiscounted range of outcomes, maximum								$ 6,600	€ 5.5
Contingent consideration liability, current						$ 1,400	€ 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, 2021	Dec. 31, 2020
Assets
Cash equivalents	$ 1,711	$ 11,047
Assets, fair value	1,848	11,074
Liabilities
Liabilities, fair value	51,084	11,556
Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	137	27
Accrued Expenses and Other Current Liabilities
Liabilities
Contingent considerations - Current	47,522	4,280
Foreign currency forward contracts	160
Other Liabilities
Liabilities
Contingent considerations - Long-term	3,402	7,276
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	1,711	11,047
Assets, fair value	1,711	11,047
Significant Other Observable Inputs (Level 2)
Assets
Assets, fair value	137	27
Liabilities
Liabilities, fair value	160
Significant Other Observable Inputs (Level 2) | Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	137	27
Significant Other Observable Inputs (Level 2) | Accrued Expenses and Other Current Liabilities
Liabilities
Foreign currency forward contracts	160
Significant Other Unobservable Inputs (Level 3)
Liabilities
Liabilities, fair value	50,924	11,556
Significant Other Unobservable Inputs (Level 3) | Accrued Expenses and Other Current Liabilities
Liabilities
Contingent considerations - Current	47,522	4,280
Significant Other Unobservable Inputs (Level 3) | Other Liabilities
Liabilities
Contingent considerations - Long-term	$ 3,402	$ 7,276

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value of Level 3 Contingent Considerations (Details) - Significant Other Unobservable Inputs (Level 3) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 11,556
Acquisition of ATI	44,000
Fair value adjustments	(99)
Payments	(4,036)
Effect of foreign exchange rates	(497)
Ending balance	$ 50,924

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Thousands, € in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Aug. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Jul. 31, 2019USD ($)	Jul. 31, 2019EUR (€)	Apr. 16, 2019USD ($)	Apr. 16, 2019EUR (€)
ATI Industrial Automation, Inc.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	$ 44,000		$ 44,000
ARGES GmbH
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	3,800	€ 3.3		$ 5,100	€ 4.1	$ 7,900	€ 7.1
Ingenia-CAT, S.L.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	$ 1,700	€ 1.5		$ 2,900	€ 2.3			$ 6,600	€ 5.8
Significant Other Unobservable Inputs (Level 3) | ATI Industrial Automation, Inc.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation Technique	novt:ValuationTechniqueMonteCarloMethodMember	novt:ValuationTechniqueMonteCarloMethodMember
Contingent consideration	$ 44,000
Significant Other Unobservable Inputs (Level 3) | ATI Industrial Automation, Inc. | EBITDA Risk Premium
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	7.2	7.2
Significant Other Unobservable Inputs (Level 3) | ATI Industrial Automation, Inc. | EBITDA Volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	27	27
Significant Other Unobservable Inputs (Level 3) | ATI Industrial Automation, Inc. | Credit Spread
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	2.1	2.1
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation Technique	novt:ValuationTechniqueMonteCarloMethodMember	novt:ValuationTechniqueMonteCarloMethodMember
Contingent consideration	$ 3,789
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH | Revenue volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	14	14
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH | Cost of debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	3	3
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	1.9	1.9
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation Technique	novt:ValuationTechniqueMonteCarloMethodMember	novt:ValuationTechniqueMonteCarloMethodMember
Contingent consideration	$ 1,736
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L. | Revenue volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	38.5	38.5
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L. | Cost of debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	3.1	3.1
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L. | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	9.6	9.6
Significant Other Unobservable Inputs (Level 3) | Other Acquisitions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Valuation Technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Contingent consideration	$ 1,399
Significant Other Unobservable Inputs (Level 3) | Other Acquisitions | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Asset acquisition, Percentage Applied	22.8	22.8

Foreign Currency Contracts - Ad

Foreign Currency Contracts - Additional Information (Details) - Foreign Currency Forward Contracts - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional amount of foreign currency forward contracts	$ 50,000,000	$ 28,500,000
Foreign Exchange Transaction Gains (Losses)
Derivative [Line Items]
Net gain (loss) on foreign currency forward contracts	1,300,000	1,300,000	$ 800,000
Maximum
Derivative [Line Items]
Net gain (loss) on foreign currency forward contracts	$ (100,000)	$ 100,000

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	[1]	Dec. 31, 2020	[2]	Dec. 31, 2019	[3]
Numerators:
Consolidated net income	$ 50,331		$ 44,521		$ 40,773
Denominators:
Weighted average common shares outstanding—basic	35,396		35,144		35,030
Dilutive potential common shares	385		510		516
Weighted average common shares outstanding— diluted	35,781		35,654		35,546
Antidilutive potential common shares excluded from above	13		13		41
Earnings per Common Share:
Basic	$ 1.42		$ 1.27		$ 1.16
Diluted	$ 1.41		$ 1.25		$ 1.15
[1]	For the year ended December 31, 2021, 45 shares of non-GAAP EPS performance-based restricted stock units and 37 shares of operating cash flow performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2021.
[2]	For the year ended December 31, 2020, 45 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2020.
[3]	For the year ended December 31, 2019, 46 shares of non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 shares of restricted stock issued to Laser Quantum former non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of December 31, 2019.

Computation of Basic and Dilu_2

Computation of Basic and Diluted Earnings per Common Share (Parenthetical) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
EPS Performance-based Restricted Stock Units
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	45	45	46
Operating Cash Flow Performance Based Restricted Stock Units
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	37
Laser Quantum | Restricted Stock
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	213	213	213

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 84,038	$ 55,657
Work-in-process	20,600	15,487
Finished goods	19,486	20,234
Demo and consigned inventory	1,533	1,359
Total inventories	$ 125,657	$ 92,737

Property Plant and Equipment, N

Property Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 177,593	$ 164,835
Accumulated depreciation	(90,154)	(86,159)
Property, plant and equipment, net	87,439	78,676
Land, Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	78,906	71,341
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 98,687	$ 93,494

Summary of Depreciation Expense

Summary of Depreciation Expense on Property, Plant and Equipment, Including Demo Units and Assets under Finance Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Depreciation expense	$ 13,529	$ 13,200	$ 11,835

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Accrued compensation and benefits	$ 24,725	$ 12,510
Accrued contingent considerations and earn-outs	47,522	10,796
Finance lease obligations	599	9,720
Contract liabilities, current portion	6,995	6,173
Accrued warranty	4,783	4,919	$ 5,756	$ 4,510
Other	13,855	9,662
Total	$ 98,479	$ 53,780

Accrued Warranty (Details)

Accrued Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Product Warranties Disclosures [Abstract]
Balance at beginning of year	$ 4,919	$ 5,756	$ 4,510
Provision charged to cost of revenue	1,410	1,838	2,360
Warranty liabilities acquired from acquisitions	874		142
Use of provision	(2,326)	(2,805)	(1,282)
Foreign currency exchange rate changes	(94)	130	26
Balance at end of year	$ 4,783	$ 4,919	$ 5,756

Other Long Term Liabilities (De

Other Long Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Finance lease obligations	$ 5,309	$ 5,908
Accrued pension liabilities		1,511
Accrued contingent considerations and earn-outs	3,402	7,276
Other	927	2,471
Total	$ 9,638	$ 17,166

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total current portion of long-term debt	$ 5,097	$ 5,508
Total long-term debt	429,361	194,927
Total Senior Credit Facilities	434,458	200,435
Term Loan
Debt Instrument [Line Items]
Current portion of long-term debt, Gross	5,126	5,545
Long-term debt, Gross	86,879	99,534
Total Senior Credit Facilities	92,005
Term Loan And Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	(29)	(37)
Less: unamortized debt issuance costs	(4,097)	(4,368)
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 346,579	$ 99,761

Debt - Additional Information (

Debt - Additional Information (Details)	Dec. 31, 2019USD ($)	Mar. 31, 2020EUR (€)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Oct. 05, 2021USD ($)	Mar. 27, 2020USD ($)	Dec. 31, 2019EUR (€)
Debt Instrument [Line Items]
Unused commitment fees percentage			0.40%
Maximum consolidated leverage ratio			350.00%
Third amended and restated credit agreement, covenants			The Third 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 1.50:1.00 and a maximum consolidated leverage ratio of 3.50:1.00. The maximum consolidated leverage ratio will increase to 4.00:1.00 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%
Debt weighted average interest rate			2.33%
Non-cash interest expense related to amortization of deferred financing costs			$ 1,200,000	$ 1,000,000	$ 1,100,000
Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate			1.25%
Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate			2.25%
Base Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate			0.25%
Base Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate			1.25%
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 450,000,000				450,000,000
Third Amended and Restated Credit Agreement | Acquisition with Aggregate Consideration Greater than or Equal to $50 million | Four Consecutive Quarters Following Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			400.00%
Debt instrument, covenant, required business acquisition consideration, minimum			$ 50,000,000
Third Amended and Restated Credit Agreement | First Amendment Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 495,000,000
Increased in line of credit facility							145,000,000
Line of credit facility accordion potential feature							$ 200,000,000
Third Amended and Restated Credit Agreement | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000				100,000,000			€ 90,200,000
Senior credit facilities maturity period	5 years
Senior credit facilities, maturity month and year	2024-12
Debt instrument, frequency of periodic payment		quarterly
Quarterly installments payable on term loan | €		€ 1,100,000
Third Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000				$ 350,000,000
Senior credit facilities maturity period	5 years
Senior credit facilities, maturity month and year	2024-12		2024-12
Third Amended and Restated Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Unused commitment fees percentage			0.20%
Third Amended and Restated Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Unused commitment fees percentage			0.40%
Third Amended and Restated Credit Agreement | Fourth Amendment Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 695,000,000
Increased in line of credit facility						200,000,000
Line of credit facility accordion potential feature						$ 200,000,000
Third Amended and Restated Credit Facility | Dividend Payments and Stock Repurchases
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			325.00%
Third Amended and Restated Credit Facility | Dividend Payments and Stock Repurchases | Four Consecutive Quarters Following Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			375.00%
Third Amended and Restated Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Available for borrowings capacity			$ 348,400,000
Third Amended and Restated Credit Agreement and The First Amendment
Debt Instrument [Line Items]
Deferred financing costs capitalized			$ 5,200,000

Repayments of Outstanding Princ

Repayments of Outstanding Principal under Term Loan Facility (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Long Term Debt Maturities Repayments Of Principal [Line Items]
Total Senior Credit Facilities	$ 434,458	$ 200,435
Term Loan
Long Term Debt Maturities Repayments Of Principal [Line Items]
2022	5,126
2023	5,126
2024	81,753
Total Senior Credit Facilities	$ 92,005

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Lessee Lease Description [Line Items]
Lease renewal terms and termination description	Certain leases include terms such as an option to purchase the property, one or more options to renew, with renewal terms that can extend the lease term from one to 10 years, and options to terminate the leases within one year.
Purchase of building under finance lease	$ 8,743
Minimum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2022
Lease renewal terms	1 year
Maximum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2036
Lease renewal terms	10 years
Lease termination period	1 year
Land | Maximum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2078

Summary of Components of Lease

Summary of Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 8,533	$ 7,693	$ 7,638
Finance lease cost
Amortization of right-of-use assets	602	989	831
Interest on lease liabilities	340	432	430
Variable lease cost	1,074	1,336	1,329
Total lease cost	$ 10,549	$ 10,450	$ 10,228

Summary of Balance Sheet Inform

Summary of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating leases:
Operating lease right-of-use assets	$ 48,338	$ 34,444
Current portion of operating lease liabilities	7,334	6,188
Operating lease liabilities	45,700	32,802
Total operating lease liabilities	53,034	38,990
Finance leases:
Finance lease right-of-use assets gross	9,582	19,819
Finance lease right-of-use assets accumulated depreciation	(5,068)	(4,934)
Finance lease assets included in property, plant and equipment, net	$ 4,514	$ 14,885
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Current portion of finance lease liabilities	$ 599	$ 9,720
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Noncurrent portion of finance lease liabilities	$ 5,309	$ 5,908
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total finance lease liabilities	$ 5,908	$ 15,628
Weighted-average remaining lease term (in years):
Operating leases	9 years	9 years 3 months 18 days
Finance leases	7 years 6 months	3 years 6 months
Weighted-average discount rate:
Operating leases	4.72%	5.50%
Finance leases	5.54%	3.00%

Summary of Cash Flow Informatio

Summary of Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in lease liabilities:
Operating cash flows from finance leases	$ 340	$ 432	$ 430
Operating cash flows from operating leases	7,818	6,760	7,768
Financing cash flows from finance leases	9,310	1,321	868
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 22,574	$ 4,290	7,723
Right-of-use assets obtained in exchange for new finance lease liabilities			$ 9,209

Future Minimum Lease Payments U

Future Minimum Lease Payments Under Operating and Finance Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 9,152
2023	8,419
2024	7,711
2025	7,673
2026	6,585
Thereafter	27,577
Total minimum lease payments	67,117
Less: interest	(14,083)
Present value of lease liabilities	53,034	$ 38,990
Finance Leases
2022	907
2023	930
2024	954
2025	954
2026	979
Thereafter	2,508
Total minimum lease payments	7,232
Less: interest	(1,324)
Present value of lease liabilities	$ 5,908	$ 15,628

Stockholders' Equity and Share-

Stockholders' Equity and Share-Based Compensation - Additional Information (Details) - USD ($)	Mar. 30, 2016	May 31, 2021	Feb. 28, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 29, 2020	Oct. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred shares, Authorized		7,000,000		7,000,000	7,000,000
Preferred shares, voting rights		one vote per share
Preferred shares, Issued				0	0
Preferred shares, outstanding				0	0
Repurchase of common stock					$ 5,500,000	$ 10,000,000
Share-based compensation expense recognized				$ 25,606,000	23,119,000	9,340,000
Unrecognized stock-based compensation expense				$ 31,400,000
Unrecognized stock-based compensation expense, weighted-average recognition period				1 year 18 days
Restricted Stock Units and Deferred Stock Units | Board of Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense recognized				$ 1,100,000	$ 1,000,000	$ 900,000
Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of outstanding shares				91,000	162,000
Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares to be issued		6,148,613
Incentive plan and award expiration date				May 13, 2031
Shares available for future issuance				2,242,880
Amended and Restated 2010 Incentive Plan | Restricted Stock Units and Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of stock units vested				$ 68,500,000
Amended and Restated 2010 Incentive Plan | Restricted Stock Units (RSUs) | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				0 years
Amended and Restated 2010 Incentive Plan | Restricted Stock Units (RSUs) | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				5 years
Amended and Restated 2010 Incentive Plan | EPS Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				3 years
Amended and Restated 2010 Incentive Plan | EPS Performance-based Restricted Stock Units | Minimum
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%
Amended and Restated 2010 Incentive Plan | EPS Performance-based Restricted Stock Units | Maximum
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%
Amended and Restated 2010 Incentive Plan | TSR Performance-based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				3 years
Amended and Restated 2010 Incentive Plan | TSR Performance-based Restricted Stock Units | Minimum
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%
Amended and Restated 2010 Incentive Plan | TSR Performance-based Restricted Stock Units | Maximum
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%
Amended and Restated 2010 Incentive Plan | Operating Cash Flow 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			100.00%
Amended and Restated 2010 Incentive Plan | Operating Cash Flow Performance Based Restricted Stock Units | Vesting in Four Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			50.00%
Amended and Restated 2010 Incentive Plan | Operating Cash Flow Performance Based Restricted Stock Units | Vesting in Five Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			5 years
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			50.00%
Amended and Restated 2010 Incentive Plan | Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of stock units vested				$ 9,300,000
Range of percentage of shares to be issued upon settlement following vesting of target number of shares				160.00%
Amended and Restated 2010 Incentive 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
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					65,000	119,000
Repurchase of common stock					$ 5,500,000	$ 10,000,000
Shares repurchased, average cost per share					$ 84.55	$ 83.71
Available for share repurchases				$ 9,500,000
2020 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount				0			$ 50,000,000
2018 and 2020 Repurchase Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for share repurchases				$ 59,500,000

Share-Based Compensation Expens

Share-Based Compensation Expense Recorded in Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 25,606	$ 23,119	$ 9,340
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	17,255	14,550	8,361
Research and Development and Engineering
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	2,294	3,301	497
Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	3,008	4,684	$ 482
Restructuring and Acquisition Related Costs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 3,049	$ 584

Restricted Stock Units and Defe

Restricted Stock Units and Deferred Stock Units Issued and Outstanding (Details) - Amended and Restated 2010 Incentive Plan - Restricted Stock Units and Deferred Stock Units $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Restricted Stock Units
Unvested, Beginning Balance | shares	625
Granted | shares	176
Vested | shares	(487)
Forfeited | shares	(22)
Unvested, Ending Balance | shares	292
Expected to vest at end of period | shares	277
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 58.79
Granted | $ / shares	137.90
Vested | $ / shares	51.38
Forfeited | $ / shares	104.98
Unvested, Ending Balance | $ / shares	115.42
Expected to vest at end of period | $ / shares	$ 115.17
Weighted Average Remaining Vesting Period (in years)
Unvested at end of period	11 months 12 days
Expected to vest at end of period	11 months 12 days
Aggregate Intrinsic Value
Unvested at end of period | $	$ 51,442	[1]
Expected to vest at end of period | $	$ 48,822	[1]
[1]	The aggregate intrinsic value is calculated based on the fair value of $176.33 per share of the Company’s common stock on December 31, 2021 due to the fact that the restricted stock units carry a $0 purchase price.

Restricted Stock Units and De_2

Restricted Stock Units and Deferred Stock Units Issued and Outstanding (Parenthetical) (Details) - Amended and Restated 2010 Incentive Plan - Restricted Stock Units and Deferred Stock Units	Dec. 31, 2021$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock fair value per share	$ 176.33
Restricted stock units purchase price per share	$ 0

Performance-Based Stock Awards

Performance-Based Stock Awards Issued and Outstanding (Details) - Amended and Restated 2010 Incentive Plan - Performance Stock Units $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Performance Stock Units
Unvested, Beginning Balance | shares	142	[1]
Granted | shares	67	[1]
Performance adjustment | shares	28	[1],[2]
Vested | shares	(75)	[1]
Unvested, Ending Balance | shares	162	[1]
Expected to vest at end of period | shares	197	[1]
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 88.99
Granted | $ / shares	150.89
Performance adjustment | $ / shares	67.72	[2]
Vested | $ / shares	64.25
Unvested, Ending Balance | $ / shares	122.26
Expected to vest at end of period | $ / shares	$ 130.33
Weighted Average Remaining Vesting Period (in years)
Unvested at end of period	1 year 6 months 18 days
Expected to vest at end of period	1 year 6 months 18 days
Aggregate Intrinsic Value
Unvested at end of period | $	$ 28,461	[3]
Expected to vest at end of period | $	$ 34,749	[3]
[1]	The unvested PSUs are shown in this table at target. The number of shares vested reflects the number of shares earned and issued during the year. As of December 31, 2021, the maximum number of PSUs available to be earned was approximately 286 thousand.
[2]	The amount shown represents performance adjustments for performance-based awards granted on February 22, 2018. These awards vested at 160% of target number of shares during 2021 based on the achievement of cumulative Non-GAAP EPS and applicable relative TSR performance conditions during the performance period of fiscal years 2018 through 2020.
[3]	The aggregate intrinsic value is calculated based on the fair value of $176.33 per share of the Company’s common stock on December 31, 2021 due to the fact that the performance stock units carry a $0 purchase price.

Performance-Based Stock Award_2

Performance-Based Stock Awards Issued and Outstanding (Parenthetical) (Details) - Amended and Restated 2010 Incentive Plan - Performance Stock Units	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of PSUs available to be earned | shares	286,000
Common stock fair value per share	$ 176.33
Performance stock units purchase price per share	$ 0
Vesting percentage	160.00%

Fair Value of TSR Performance-B

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, 2021$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date stock price	$ 138.23
Expected volatility	42.44%
Risk-free interest rate	0.22%
Expected annual dividend yield	0.00%
Weighted average fair value	$ 166.64

Stockholders' Equity and Shar_2

Stockholders' Equity and Share-Based Compensation - Stock Options Outstanding and Exercisable (Details) - Amended and Restated 2010 Incentive Plan - Stock Options $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Number of Shares
Stock options outstanding | shares	60
Stock options exercisable | shares	60
Weighted Average Exercise Price
Stock options outstanding | $ / shares	$ 14.13
Stock options exercisable | $ / shares	$ 14.13
Weighted Average Remaining Contractual Term (years)
Stock options outstanding	4 years 3 months
Stock options exercisable	4 years 3 months
Aggregate Intrinsic Value
Stock options outstanding | $	$ 9,753	[1]
Stock options exercisable | $	$ 9,753	[1]
[1]	The aggregate intrinsic value is calculated as

Stockholders' Equity and Shar_3

Stockholders' Equity and Share-Based Compensation - Stock Options Outstanding and Exercisable (Parenthetical) (Details)	Dec. 31, 2021$ / shares
Amended and Restated 2010 Incentive Plan | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock fair value per share	$ 176.33

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Contribution to defined contribution plan by employer	$ 4.4	$ 4.2	$ 4.4
Funding valuation period	3 years
Defined benefit plan estimated employer contributions for 2022	$ 1.1
Defined benefit plan estimated employer contributions increasing percentage for 2022 thereafter	2.90%

Net Periodic Pension Cost (Deta

Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of the net periodic pension cost:
Interest cost	$ 554	$ 736	$ 971
Expected return on plan assets	(1,120)	(1,340)	(1,671)
Amortization of actuarial losses	928	686	957
Amortization of prior service cost	31	29	29
Net periodic pension cost	$ 393	$ 111	$ 286

Actuarial Assumptions used to C

Actuarial Assumptions used to Compute Net Periodic Pension Cost (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Weighted-average discount rate	1.20%	1.90%	2.70%
Weighted-average long-term rate of return on plan assets	2.50%	3.60%	5.10%

Actuarial Assumptions used to_2

Actuarial Assumptions used to Compute Benefit Obligations (Details)	Dec. 31, 2021	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Weighted-average discount rate	1.80%	1.20%
Rate of inflation	3.20%	2.60%

Reconciliation of Benefit Oblig

Reconciliation of Benefit Obligations and Plan Assets of U.K. Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in benefit obligation:
Projected benefit obligation at beginning of year	$ 47,200	$ 40,456
Interest cost	554	736	$ 971
Actuarial (gains) losses (1)	(3,303)	5,410
Benefits paid	(2,679)	(1,111)
Prior service cost	36
Foreign currency exchange rate changes	(410)	1,709
Projected benefit obligation at end of year	41,398	47,200	40,456
Accumulated benefit obligation at end of year	41,398	47,200
Change in plan assets:
Fair value of plan assets at beginning of year	45,689	38,983
Actual return on plan assets	592	5,170
Employer contributions	1,055	988
Benefits paid	(2,679)	(1,111)
Foreign currency exchange rate changes	(470)	1,659
Fair value of plan assets at end of year	44,187	45,689	38,983
Funded status at end of year	2,789	(1,511)
Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost:
Net actuarial losses at beginning of year	(10,958)	(9,706)
Net actuarial gains (losses) during the year	2,775	(1,580)
Prior service cost arising during the year	(36)
Amounts reclassified from accumulated other comprehensive income to income before income taxes	959	715
Foreign currency exchange rate changes	54	(387)
Net actuarial losses	$ (7,206)	$ (10,958)	$ (9,706)

Expected Future Benefit Payment

Expected Future Benefit Payments for Each of Next Five Years (Details) $ in Thousands	Dec. 31, 2021USD ($)
Compensation And Retirement Disclosure [Abstract]
2022	$ 1,090
2023	1,198
2024	1,567
2025	1,447
2026	1,677
2027-2031	9,765
Total	$ 16,744

Summary of Fair Value of Plan A

Summary of Fair Value of Plan Assets by Asset Category (Details) - USD ($) $ in Thousands	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	$ 44,187		$ 45,689		$ 38,983
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	163		866
Not Subject to Leveling
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	44,024		44,823
Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	30,774	[1]	31,572	[2]
Balanced Fund | Not Subject to Leveling
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	30,774	[1]	31,572	[2]
Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	13,250	[3]	13,251	[4]
Fixed Income | Not Subject to Leveling
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	13,250	[3]	13,251	[4]
Cash
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	163		866
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	$ 163		$ 866
[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 (35%), bonds (39%), other assets (21%) and cash (5%).
[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 (35%), bonds (37%), other assets (19%) and cash (9%).
[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 (88%), other assets (6%), and cash (6)%.
[4]	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 (83%), other assets (16%) and cash (1%).

Summary of Fair Value of Plan_2

Summary of Fair Value of Plan Assets by Asset Category (Parenthetical) (Details)	Dec. 31, 2021	Dec. 31, 2020
Bonds | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	39.00%	37.00%
Bonds | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	88.00%	83.00%
Equity Securities | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	35.00%	35.00%
Other Asset | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	21.00%	19.00%
Other Asset | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	6.00%	16.00%
Cash | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	5.00%	9.00%
Cash | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	6.00%	1.00%

Components of Income (Loss) Bef

Components of Income (Loss) Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income (loss) before income taxes:
Income before income taxes	$ 56,172	$ 48,403	$ 45,766
CANADA
Income (loss) before income taxes:
Foreign	(1,371)	(2,278)	78
UNITED STATES
Income (loss) before income taxes:
U.S.	19,168	16,875	25,577
Other Countries
Income (loss) before income taxes:
Foreign	$ 38,375	$ 33,806	$ 20,111

Components of Income Tax Provis

Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	$ 9,786	$ 7,995	$ 9,325
Deferred income tax provision (benefit)	(3,945)	(4,113)	(4,332)
Income Tax Provision (benefit)	5,841	3,882	4,993
CANADA
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	95	82	100
Deferred income tax provision (benefit)	493	(493)
UNITED STATES
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	205	1,324	1,109
Deferred income tax provision (benefit)	(2,133)	(1,256)	703
Other Countries
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	9,486	6,589	8,116
Deferred income tax provision (benefit)	$ (2,305)	$ (2,364)	$ (5,035)

Reconciliation of Statutory Can

Reconciliation of Statutory Canadian Tax rate to Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Income Tax Provision (benefit)	$ 5,841	$ 3,882	$ 4,993
Canada Revenue Agency
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Statutory Canadian tax rate	29.00%	29.00%	29.00%
Expected income tax provision at Canadian statutory tax rate	$ 16,291	$ 14,037	$ 13,272
International tax rate differences	(3,621)	(3,483)	(3,346)
U.S. state income taxes, net	(249)	(108)	386
Withholding and other taxes	429	485	364
Permanent differences and other	921	259	443
Disallowed compensation	1,111	685
Foreign-derived intangible income	(1,211)	(1,063)	(787)
Tax credits	(1,408)	(2,016)	(1,457)
Statutory tax rate changes	489	429	35
Uncertain tax positions	(472)	(176)	310
Change in valuation allowance	918	(727)	(482)
Acquisition contingent consideration adjustments	87	(1,513)	287
Transaction costs	248	(23)	247
Provision to return differences	33	750	(516)
Windfall benefit from share-based compensation	(5,131)	(2,322)	(1,717)
UK patent box	(2,594)	(1,332)	(2,046)
Income Tax Provision (benefit)	$ 5,841	$ 3,882	$ 4,993
Effective tax rate	10.40%	8.00%	10.90%

Significant Components of Defer

Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Losses	$ 9,358	$ 8,524
Operating lease liabilities	12,200	10,216
Compensation related deductions	6,795	5,955
Inventories	6,594	5,090
Tax credits	2,786	2,958
Restructuring related liabilities	206	185
Warranty	700	720
Other	197	957
Total deferred tax assets	38,836	34,605
Valuation allowance on deferred tax assets	(12,608)	(11,561)
Net deferred tax assets	26,228	23,044
Deferred tax liabilities:
Depreciation	(2,585)	(1,583)
Amortization	(32,117)	(24,772)
Unrealized currency gains/losses		(372)
Operating lease right-of-use assets	(11,667)	(9,960)
Deferred revenue	(1,391)
Total deferred tax liabilities	(47,760)	(36,687)
Net deferred income tax (liabilities)	$ (21,532)	$ (13,643)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Deferred tax assets valuation allowance reversed		$ 700,000	$ 500,000
Deferred tax assets additional valuation allowance recorded	$ 900,000
Loss carryforwards	3,500,000	3,100,000
Capital loss carryforward	5,900,000	5,700,000
Tax credits	3,800,000	3,300,000
Undistributed earnings of foreign subsidiaries	266,100,000
Estimated unrecognized income tax and foreign tax liabilities related to undistributed earnings of foreign subsidiaries	4,000,000
Unrecognized tax benefits	4,797,000	5,258,000	4,929,000	$ 4,725,000
Unrecognized tax benefits that will impact tax rate if recognized	4,600,000
Unrecognized tax benefit income tax interest and penalties accrued	600,000	700,000
Maximum
Income Taxes [Line Items]
Maximum unrecognized tax benefits expected to be recorded in next twelve months	500,000
Unrecognized tax benefits, income tax penalties and interest expense	(100,000)	200,000	$ 100,000
UNITED STATES
Income Taxes [Line Items]
Loss carryforwards	600,000	$ 900,000
Loss carryforwards indefinite amount	200,000
Loss carryforwards remaining amount	400,000
Operating loss carryforwards expiration year		2037
Tax credits	$ 2,600,000	$ 1,400,000
UNITED STATES | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits		$ 1,300,000
Tax credits, expiration Year	2042	2035
UNITED STATES | Tax Credits That Can Be Carried Forward Indefinitely
Income Taxes [Line Items]
Tax credits		$ 100,000
UNITED STATES | Minimum
Income Taxes [Line Items]
Operating loss carryforwards expiration year	2022
UNITED STATES | Maximum
Income Taxes [Line Items]
Operating loss carryforwards expiration year	2036
CANADA
Income Taxes [Line Items]
Loss carryforwards	$ 2,900,000	$ 2,100,000
Operating loss carryforwards expiration year	2033	2033
Capital loss carryforward	$ 5,100,000	$ 5,100,000
Tax credits	1,200,000	1,900,000
CANADA | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits	$ 500,000	$ 1,200,000
Tax credits, expiration Year	2022	2022
CANADA | Tax Credits That Can Be Carried Forward Indefinitely
Income Taxes [Line Items]
Tax credits	$ 700,000	$ 700,000
UNITED KINGDOM
Income Taxes [Line Items]
Capital loss carryforward	$ 800,000	$ 600,000

Reconciliation of Total Amounts

Reconciliation of Total Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance of unrecognized tax benefits	$ 5,258	$ 4,929	$ 4,725
Additions based on tax positions related to the current year	1,162	476	727
Additions for tax positions of prior years	9	356	5
Reductions to tax positions of prior years	(41)	(5)	(31)
Reductions to tax positions resulting from a lapse of the applicable statute of limitations	(1,591)	(498)	(497)
Ending balance of unrecognized tax benefits	$ 4,797	$ 5,258	$ 4,929

Income Tax Returns to be Review

Income Tax Returns to be Reviewed (Details)	12 Months Ended
	Dec. 31, 2021
UNITED STATES
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2018
CANADA
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2017
UNITED KINGDOM
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2020
GERMANY
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2017
THE NETHERLANDS
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2017
CHINA
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2012
JAPAN
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2016

Schedule of Restructuring and A

Schedule of Restructuring and Acquisition Related Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	$ 8,341	$ 4,477	$ 8,640
Acquisition and related charges	9,679	(667)	7,934
Total restructuring and acquisition related costs	18,020	3,810	16,574
2020 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	8,133	2,736
2019 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	$ 208	988	7,463
2018 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges		$ 753	$ 1,177

Restructuring and Acquisition_3

Restructuring and Acquisition Related Costs - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	$ 8,341	$ 4,477	$ 8,640
Acquisition and related charges	9,679	(667)	7,934
Legal costs	1,900	1,700
Photonics
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges	(500)
Vision
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges	2,500
Precision Motion
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges	2,000
Unallocated Corporate and Shared Services
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges	5,700
Finders' Fees, Legal, Valuation And Other Professional Or Consulting Fees
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges	5,900	600	5,300
Earn-out Agreement
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges	$ 1,900	(3,000)	2,600
Fiscal Year Twenty Twenty
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and related cost description	As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2020 restructuring program in the third quarter of 2020. This program is focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program has been focused on cost reduction actions that improve gross margins for the overall company. In 2021, the Company recorded $8.1 million in severance and other costs in connection with the 2020 restructuring program. The Company anticipates completing the 2020 restructuring program in the fourth quarter of 2022 and expects to incur additional restructuring charges between $3.5 million and $4.5 million related to the 2020 restructuring program in the next twelve months.
Restructuring costs	$ 8,133	2,736
Fiscal Year Twenty Twenty | Photonics
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	3,085	740
Fiscal Year Twenty Twenty | Vision
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	813	1,330
Fiscal Year Twenty Twenty | Precision Motion
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	4,206	524
Fiscal Year Twenty Twenty | Unallocated Corporate and Shared Services
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	29	142
Fiscal Year Twenty Twenty | Severance and Related Costs
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	8,100
Fiscal Year Twenty Twenty | Additional Restructuring Costs | Minimum
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	3,500
Fiscal Year Twenty Twenty | Additional Restructuring Costs | Maximum
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	$ 4,500
Fiscal Year Twenty Nineteen
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and related cost description	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 2021, the Company recorded $0.2 million in severance and related costs in connection with the 2019 restructuring plan. As of December 31, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $9.0 million. The 2019 restructuring program was completed in the first quarter of 2021.
Restructuring costs	$ 208	$ 988	$ 7,463
Restructuring cumulative costs incurred	9,000
Fiscal Year Twenty Nineteen | Severance and Related Costs
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs	$ 200

Summary of Restructuring Charge

Summary of Restructuring Charges by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 8,341	$ 4,477	$ 8,640
2020 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring costs	8,133	2,736
Cumulative Costs	10,869
2020 Restructuring | Photonics
Restructuring Cost And Reserve [Line Items]
Restructuring costs	3,085	740
Cumulative Costs	3,825
2020 Restructuring | Vision
Restructuring Cost And Reserve [Line Items]
Restructuring costs	813	1,330
Cumulative Costs	2,143
2020 Restructuring | Precision Motion
Restructuring Cost And Reserve [Line Items]
Restructuring costs	4,206	524
Cumulative Costs	4,730
2020 Restructuring | Unallocated Corporate and Shared Services
Restructuring Cost And Reserve [Line Items]
Restructuring costs	29	$ 142
Cumulative Costs	$ 171

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, 2021		Dec. 31, 2020
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	$ 1,800		$ 2,073
Restructuring charges	8,341		4,477
Cash payments	(3,727)		(4,024)
Non-cash write-offs and other adjustments	(3,728)	[1]	(726)
Accrued expense ending balance	2,686		1,800
Employee Related
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	1,681		1,988
Restructuring charges	6,462		3,506
Cash payments	(2,898)		(3,229)
Non-cash write-offs and other adjustments	(3,138)	[1]	(584)
Accrued expense ending balance	2,107		1,681
Facility Related
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	116
Restructuring charges	1,309		503
Cash payments	(226)		(115)
Non-cash write-offs and other adjustments	(649)	[1]	(272)
Accrued expense ending balance	550		116
Other Restructuring Charges
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	3		85
Restructuring charges	570		468
Cash payments	(603)		(680)
Non-cash write-offs and other adjustments	59	[1]	130
Accrued expense ending balance	$ 29		$ 3
[1]	Non-cash charges included stock-based compensation charges amounting to $3.0 million associated with severance agreements for certain employees.

Summary of Accrual Activities_2

Summary of Accrual Activities by Components Related to Company's Restructuring Charges (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost And Reserve [Line Items]
Share-based compensation expense	$ 25,606	$ 23,119	$ 9,340
Severance and Related Costs
Restructuring Cost And Reserve [Line Items]
Share-based compensation expense	$ 3,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Customer	Dec. 31, 2020Customer
Commitments And Contingencies Disclosure [Abstract]
Purchase commitments	$ 169.6
Purchase commitments, 2022	167.1
Purchase commitments, 2023	$ 2.5
Number of customers accounted for 10% or more of accounts receivable | Customer	0	0

Segment Information - Additiona

Segment Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021CustomerSegmentEndMarket	Dec. 31, 2020	Dec. 31, 2019Customer
Segment Reporting Information [Line Items]
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
Medical End Market | Sales Revenue Segment | Customer Concentration Risk
Segment Reporting Information [Line Items]
Percentage of revenue accounted		11.00%

Revenue, Gross Profit and Opera

Revenue, Gross Profit and Operating Income (Loss) by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 706,793	$ 590,623	$ 626,099
Gross Profit	300,328	244,517	262,085
Operating Income (Loss)	64,054	55,888	55,282
Operating Segments | Photonics
Segment Reporting Information [Line Items]
Revenue	232,459	199,613	230,457
Gross Profit	107,993	89,060	105,845
Operating Income (Loss)	46,792	34,001	41,990
Operating Segments | Vision
Segment Reporting Information [Line Items]
Revenue	262,060	261,650	271,407
Gross Profit	100,890	100,267	105,228
Operating Income (Loss)	17,694	16,354	21,007
Operating Segments | Precision Motion
Segment Reporting Information [Line Items]
Revenue	212,274	129,360	124,235
Gross Profit	99,345	58,279	53,326
Operating Income (Loss)	52,676	31,663	22,339
Unallocated Corporate and Shared Services
Segment Reporting Information [Line Items]
Gross Profit	(7,900)	(3,089)	(2,314)
Operating Income (Loss)	$ (53,108)	$ (26,130)	$ (30,054)

Depreciation and Amortization E

Depreciation and Amortization Expenses by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 43,394	$ 38,293	$ 38,280
Unallocated Corporate and Shared Services
Depreciation and Amortization Expenses
Depreciation and amortization expenses	254	215	268
Photonics | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	11,600	11,261	12,139
Vision | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	20,812	21,374	21,161
Precision Motion | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 10,728	$ 5,443	$ 4,712

Accounts Receivable and Invento

Accounts Receivable and Inventory by Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable
Total accounts receivable	$ 115,617	$ 75,054
Inventories
Total inventories	125,657	92,737
Total segment assets	241,274	167,791
Photonics
Accounts Receivable
Total accounts receivable	31,392	27,328
Inventories
Total inventories	49,146	35,878
Vision
Accounts Receivable
Total accounts receivable	44,078	33,194
Inventories
Total inventories	34,621	41,137
Precision Motion
Accounts Receivable
Total accounts receivable	40,147	14,532
Inventories
Total inventories	$ 41,890	$ 15,722

Total Assets by Reportable Segm

Total Assets by Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Total segment assets	$ 241,274	$ 167,791
Cash and cash equivalents	117,393	125,054
Prepaid income taxes and income taxes receivable	1,997	3,203
Prepaid expenses and other current assets	13,161	8,125
Property, plant and equipment, net	87,439	78,676
Operating lease assets	48,338	34,444
Deferred tax assets	12,206	10,491
Other assets	5,586	2,894
Intangible assets, net	220,989	148,521
Goodwill	479,500	285,980
Total assets	$ 1,227,883	$ 865,179

Schedule of Geographic Revenue

Schedule of Geographic Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 706,793	$ 590,623	$ 626,099
Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	100.00%	100.00%	100.00%
United States
Segment Reporting Information [Line Items]
Revenue	$ 270,833	$ 225,760	$ 254,279
United States | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	38.40%	38.20%	40.60%
Germany
Segment Reporting Information [Line Items]
Revenue	$ 101,865	$ 83,765	$ 82,032
Germany | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	14.40%	14.20%	13.10%
Rest of Europe
Segment Reporting Information [Line Items]
Revenue	$ 138,863	$ 127,040	$ 129,643
Rest of Europe | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	19.60%	21.50%	20.70%
China
Segment Reporting Information [Line Items]
Revenue	$ 95,045	$ 70,557	$ 59,512
China | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	13.40%	11.90%	9.50%
Rest of Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	$ 89,198	$ 74,334	$ 89,588
Rest of Asia-Pacific | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	12.60%	12.60%	14.30%
Other Countries
Segment Reporting Information [Line Items]
Revenue	$ 10,989	$ 9,167	$ 11,045
Other Countries | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	1.60%	1.60%	1.80%

Summary of Long-lived Assets (D

Summary of Long-lived Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	$ 87,439	$ 78,676
United States
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	27,587	25,436
GERMANY
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	33,344	36,314
UNITED KINGDOM
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	15,059	9,447
Rest Of Europe
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	4,754	5,312
China
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	6,521	1,809
Rest of Asia-Pacific
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	$ 174	$ 358

Schedule of Revenue by End Mark

Schedule of Revenue by End Market (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenue by end market	100.00%	100.00%	100.00%
Medical
Segment Reporting Information [Line Items]
Total revenue by end market	52.00%	56.00%	55.00%
Advanced Industrial
Segment Reporting Information [Line Items]
Total revenue by end market	48.00%	44.00%	45.00%