Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 12, 2014 | Jun. 29, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'ENTG | ' | ' |
Entity Registrant Name | 'ENTEGRIS INC | ' | ' |
Entity Central Index Key | '0001101302 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 138,735,596 | ' |
Entity Public Float | ' | ' | $1,170,000,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $384,426 | $330,419 |
Short-term investments | 0 | 19,995 |
Trade accounts and notes receivable, net | 101,873 | 94,016 |
Inventories, net | 94,074 | 99,144 |
Deferred tax assets, deferred tax charges and refundable income taxes | 20,844 | 20,201 |
Assets held for sale | 0 | 5,998 |
Other current assets | 11,088 | 9,551 |
Total current assets | 612,305 | 579,324 |
Property, plant and equipment, net | 186,440 | 157,021 |
Other assets: | ' | ' |
Intangible assets, net | 43,509 | 47,207 |
Deferred tax assets and other noncurrent tax assets | 12,039 | 17,167 |
Other | 21,001 | 10,825 |
Total assets | 875,294 | 811,544 |
Current liabilities: | ' | ' |
Accounts payable | 38,396 | 36,341 |
Accrued payroll and related benefits | 30,116 | 29,376 |
Other accrued liabilities | 18,700 | 21,887 |
Deferred tax liabilities and income taxes payable | 10,373 | 5,659 |
Total current liabilities | 97,585 | 93,263 |
Pension benefit obligations and other liabilities | 15,411 | 17,066 |
Deferred tax liabilities and other noncurrent tax liabilities | 5,455 | 6,416 |
Commitments and contingent liabilities | 0 | 0 |
Equity: | ' | ' |
Preferred stock, par value $.01; 5,000,000 shares authorized; none issued and outstanding as of December 31, 2013 and 2012 | 0 | 0 |
Common stock, par value $.01; 400,000,000 shares authorized; issued and outstanding shares: 138,734,442 and 138,457,769 | 1,387 | 1,385 |
Additional paid-in capital | 819,632 | 809,514 |
Retained deficit | -88,599 | -157,038 |
Accumulated other comprehensive income | 24,423 | 40,938 |
Total equity | 756,843 | 694,799 |
Total liabilities and equity | $875,294 | $811,544 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Common stock, shares issued | 138,734,442 | 138,457,769 |
Common stock, shares outstanding | 138,734,442 | 138,457,769 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales | $693,459 | $715,903 | $749,259 |
Cost of sales | 399,245 | 408,520 | 423,329 |
Gross profit | 294,214 | 307,383 | 325,930 |
Selling, general and administrative expenses | 137,123 | 147,405 | 140,847 |
Engineering, research and development expenses | 55,320 | 50,940 | 47,980 |
Amortization of intangible assets | 9,347 | 9,594 | 10,225 |
Contingent consideration fair value adustment | -1,813 | 0 | 0 |
Operating income | 94,237 | 99,444 | 126,878 |
Other income, net | -1,958 | -259 | -1,086 |
Income before income taxes and equity in net income of affiliates | 96,195 | 99,703 | 127,964 |
Income tax expense | 21,669 | 30,881 | 4,217 |
Equity in net income of affiliates | 0 | -3 | -499 |
Net income | 74,526 | 68,825 | 124,246 |
Less net income attributable to the noncontrolling interest | 0 | 0 | 400 |
Net income attributable to Entegris, Inc. | $74,526 | $68,825 | $123,846 |
Amounts attributable to Entegris, Inc.: | ' | ' | ' |
Basic net income per common share | $0.54 | $0.50 | $0.92 |
Diluted net income per common share | $0.53 | $0.50 | $0.91 |
Weighted shares outstanding | ' | ' | ' |
Basic | 138,950 | 137,306 | 134,685 |
Diluted | 139,618 | 138,412 | 136,223 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $74,526 | $68,825 | $124,246 |
Other comprehensive (loss) income, net of tax | ' | ' | ' |
Foreign currency translation adjustments | -17,504 | -2,524 | 925 |
Reclassification of cumulative translation adjustment associated with sale and liquidation | 787 | 0 | -1,715 |
Reclassification of cumulative translation adjustment associated with acquisition of business | 0 | -216 | 0 |
Pension liability adjustments, net of income tax expense of $(37),$74, and$(1,631) for year ended December 31, 2012, 2011, and 2010 | 202 | -295 | 2,386 |
Other comprehensive (loss) income | -16,515 | -3,035 | 1,596 |
Comprehensive income | 58,011 | 65,790 | 125,842 |
Less comprehensive income attributable to the noncontrolling interest | 0 | 0 | 620 |
Comprehensive income attributable to Entegris, Inc. | $58,011 | $65,790 | $125,222 |
Consolidated_Statements_Of_Com1
Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension liability adjustments, income tax (benefit) expense | ($37) | $74 | ($1,631) |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Common stock | Additional paid-in capital | Retained earnings (deficit) | Foreign currency translation adjustments | Defined benefit pension adjustments | Noncontrolling interest |
In Thousands | |||||||
Balance at Dec. 31, 2010 | $464,013 | $1,329 | $765,867 | ($349,612) | $45,185 | ($3,150) | $4,394 |
Balance (in shares) at Dec. 31, 2010 | ' | 132,901 | ' | ' | ' | ' | ' |
Shares issued under stock plans (in shares) | ' | 2,920 | ' | ' | ' | ' | ' |
Shares issued under stock plans | 11,690 | 29 | 11,661 | 0 | 0 | 0 | 0 |
Share-based compensation expense | 7,519 | 0 | 7,519 | 0 | 0 | 0 | 0 |
Tax benefit associated with stock plans | 657 | 0 | 657 | 0 | 0 | 0 | 0 |
Purchase of noncontrolling interest | -1,483 | 0 | 2,969 | 0 | 562 | 0 | -5,014 |
Pension liability adjustment | 2,386 | 0 | 0 | 0 | 0 | 2,386 | 0 |
Reclassification of cumulative translation adjustment associated with acquisition of business | 0 | ' | ' | ' | ' | ' | ' |
Reclassification of cumulative translation adjustment associated with sale and liquidation | -1,715 | 0 | 0 | 0 | -1,715 | 0 | 0 |
Foreign currency translation | 925 | 0 | 0 | 0 | 705 | 0 | 220 |
Net income | 124,246 | 0 | 0 | 123,846 | 0 | 0 | 400 |
Balance at Dec. 31, 2011 | 608,238 | 1,358 | 788,673 | -225,766 | 44,737 | -764 | 0 |
Balance (in shares) at Dec. 31, 2011 | ' | 135,821 | ' | ' | ' | ' | ' |
Shares issued under stock plans (in shares) | ' | 2,694 | ' | ' | ' | ' | ' |
Shares issued under stock plans | 7,431 | 28 | 7,403 | 0 | 0 | 0 | 0 |
Share-based compensation expense | 9,881 | 0 | 9,881 | 0 | 0 | 0 | 0 |
Repurchase and retirement of common stock (in shares) | ' | -57 | ' | ' | ' | ' | ' |
Repurchase and retirement of common stock | -427 | -1 | -329 | -97 | 0 | 0 | 0 |
Tax benefit associated with stock plans | 3,886 | 0 | 3,886 | 0 | 0 | 0 | 0 |
Pension liability adjustment | -295 | 0 | 0 | 0 | 0 | -295 | 0 |
Reclassification of cumulative translation adjustment associated with acquisition of business | -216 | 0 | 0 | 0 | -216 | 0 | 0 |
Reclassification of cumulative translation adjustment associated with sale and liquidation | 0 | ' | ' | ' | ' | ' | ' |
Foreign currency translation | -2,524 | 0 | 0 | 0 | -2,524 | 0 | 0 |
Net income | 68,825 | 0 | 0 | 68,825 | 0 | 0 | 0 |
Balance at Dec. 31, 2012 | 694,799 | 1,385 | 809,514 | -157,038 | 41,997 | -1,059 | 0 |
Balance (in shares) at Dec. 31, 2012 | ' | 138,458 | ' | ' | ' | ' | ' |
Shares issued under stock plans (in shares) | ' | 1,882 | ' | ' | ' | ' | ' |
Shares issued under stock plans | 7,685 | 18 | 7,667 | 0 | 0 | 0 | 0 |
Share-based compensation expense | 7,928 | 0 | 7,928 | 0 | 0 | 0 | 0 |
Repurchase and retirement of common stock (in shares) | ' | -1,606 | ' | ' | ' | ' | ' |
Repurchase and retirement of common stock | -15,494 | -16 | -9,391 | -6,087 | 0 | 0 | 0 |
Tax benefit associated with stock plans | 3,914 | 0 | 3,914 | 0 | 0 | 0 | 0 |
Pension liability adjustment | 202 | 0 | 0 | 0 | 0 | 202 | 0 |
Reclassification of cumulative translation adjustment associated with acquisition of business | 0 | ' | ' | ' | ' | ' | ' |
Reclassification of cumulative translation adjustment associated with sale and liquidation | 787 | 0 | 0 | 0 | 787 | 0 | 0 |
Foreign currency translation | -17,504 | 0 | 0 | 0 | -17,504 | 0 | 0 |
Net income | 74,526 | 0 | 0 | 74,526 | 0 | 0 | 0 |
Balance at Dec. 31, 2013 | $756,843 | $1,387 | $819,632 | ($88,599) | $25,280 | ($857) | $0 |
Balance (in shares) at Dec. 31, 2013 | ' | 138,734 | ' | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities: | ' | ' | ' |
Net income | $74,526 | $68,825 | $124,246 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 29,468 | 28,013 | 26,839 |
Amortization | 9,347 | 9,594 | 10,225 |
Share-based compensation expense | 7,928 | 9,881 | 7,519 |
Deferred tax valuation allowance | 445 | 358 | -41,038 |
Provision for deferred income taxes | 7,787 | 11,582 | 21,671 |
Charge for excess and obsolete inventory | 3,963 | 4,007 | 3,167 |
Excess tax benefit from share-based compensation plans | -3,914 | -3,805 | -657 |
Amortization of debt issuance costs | 0 | 0 | 676 |
Net income attributable to noncontrolling interest | 0 | 0 | -400 |
Other | -765 | 1,701 | -2,245 |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' |
Trade accounts receivable and notes receivable | -13,363 | 10,626 | 19,336 |
Inventories | -441 | -6,118 | 3,632 |
Accounts payable and accrued liabilities | -4,408 | 6,265 | -15,127 |
Other current assets | -414 | -2,985 | 1,253 |
Income taxes payable and refundable income taxes | 2,731 | -11,015 | -433 |
Other | -3,488 | -11,767 | -1,378 |
Net cash provided by operating activities | 109,402 | 115,162 | 157,286 |
Investing activities: | ' | ' | ' |
Acquisition of property and equipment | -60,360 | -49,929 | -30,267 |
Acquisition of business, net of cash acquired | -13,358 | -2,961 | 0 |
Purchase of short-term investments | 0 | -27,990 | -2,047 |
Proceeds from sale or maturities of short-term investments | 20,000 | 8,000 | 2,000 |
Proceeds from sale of assets held for sale | 6,500 | 0 | 0 |
Other | 189 | 413 | 1,883 |
Net cash used in investing activities | -47,029 | -72,467 | -28,431 |
Financing activities: | ' | ' | ' |
Issuance of common stock from employee stock plans | 7,685 | 7,431 | 11,690 |
Repurchase and retirement of common stock | -15,494 | -427 | 0 |
Other | 3,914 | 3,886 | -826 |
Net cash (used in) provided by financing activities | -3,895 | 10,890 | 10,864 |
Effect of exchange rate changes on cash and cash equivalents | -4,471 | 3,241 | -80 |
Increase in cash and cash equivalents | 54,007 | 56,826 | 139,639 |
Cash and cash equivalents at beginning of year | 330,419 | 273,593 | 133,954 |
Cash and cash equivalents at end of year | 384,426 | 330,419 | 273,593 |
Supplemental Cash Flow Information | ' | ' | ' |
Equipment purchases in accounts payable | 6,950 | 3,429 | 1,372 |
Intangible assets received as partial consideration in sale of equity interest | 0 | 0 | 1,712 |
Schedule of interest and income taxes paid: | ' | ' | ' |
Interest paid | 72 | 271 | 210 |
Income taxes, net of refunds received | $10,208 | $29,697 | $22,034 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Operations Entegris, Inc. (Entegris or the Company) is a leading provider of products and services that purify, protect and transport the critical materials used in key technology-driven industries, primarily the semiconductor and related industries. | |
Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation. | |
Use of Estimates and Basis of Presentation The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, Entegris evaluates its estimates, including those related to receivables, inventories, property, plant and equipment, intangible assets, accrued expenses, income taxes and share-based compensation, among others. Actual results could differ from those estimates. | |
In the fourth quarter and year ended December 31, 2013, the Company recorded the correction of an error resulting from the company’s Japan manufacturing subsidiary inventory being overvalued due to applying an incorrect exchange rate in calculating the inventory value. The error originated in the fourth quarter of 2012 and the first three quarters of 2013. The impact of correcting the error in the fourth quarter 2013 increased cost of goods sold by $2.2 million with a corresponding decrease to inventory. Neither the origination nor the correction of the error was material to the Company’s consolidated financial statements. | |
Concentrations of Suppliers Certain materials included in the Company’s products are obtained from a single source or a limited group of suppliers. Although the Company seeks to reduce dependence on those sole and limited source suppliers, the partial or complete loss of these sources could have at least a temporary adverse effect on the Company’s results of operations. Furthermore, a significant increase in the price of one or more of these components could adversely affect the Company’s results of operations. | |
Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid debt securities with original maturities of three months or less, which are valued at cost which approximates fair value. | |
Allowance for Doubtful Accounts An allowance for uncollectible trade receivables is estimated based on a combination of write-off history, aging analysis and any specific, known troubled accounts. The Company maintains an allowance for doubtful accounts that management believes is adequate to cover expected losses on trade receivables. | |
Inventories Inventories are stated at the lower of cost or market. Cost is determined by the first-in, first-out (FIFO) method. | |
Property, Plant, and Equipment Property, plant and equipment are carried at cost and are depreciated on the straight-line method over the estimated useful lives of the assets. When assets are retired or disposed of, the cost and related accumulated depreciation are removed from the accounts, and gains or losses are recognized in the same period. Maintenance and repairs are expensed as incurred; significant additions and improvements are capitalized. Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of asset(s) may not be recoverable based on estimated future undiscounted cash flows. The amount of impairment, if any, is measured as the difference between the net book value and the estimated fair value of the asset(s). | |
Investments The Company’s nonmarketable investments are accounted for under either the cost or equity method of accounting, as appropriate. All nonmarketable investments are periodically reviewed to determine whether declines, if any, in fair value below cost basis are other-than-temporary. If the decline in fair value is determined to be other-than-temporary, an impairment loss is recorded and the investment written down to a new cost basis. | |
Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable and accounts payable approximates fair value due to the short maturity of those instruments. | |
Intangible Assets Amortizable intangible assets include, among other items, patents, unpatented and other developed technology and customer-based intangibles, and are amortized using the straight-line method over their respective estimated useful lives of 3 to 15 years. The Company reviews intangible assets, along with other long-lived assets, for impairment if changes in circumstances or the occurrence of events suggest the remaining value may not be recoverable. | |
Derivative Financial Instruments The Company records derivatives as assets or liabilities on the balance sheet and measures such instruments at fair value. Changes in fair value of derivatives are recorded each period in the Company’s consolidated statements of operations. | |
The Company periodically enters into forward foreign currency contracts to reduce exposures relating to rate changes in certain foreign currencies. Certain exposures to credit losses related to counterparty nonperformance exist. However, the Company does not anticipate nonperformance by the counterparties since they are large, well-established financial institutions. None of these derivatives is accounted for as a hedge transaction. Accordingly, changes in the fair value of forward foreign currency contracts are recorded as other income, net, in the Company’s consolidated statements of operations. The fair values of the Company’s derivative financial instruments are based on prices quoted by financial institutions for these instruments. | |
Foreign Currency Translation Assets and liabilities of foreign subsidiaries are generally translated from foreign currencies into U.S. dollars at period-end exchange rates, and the resulting gains and losses arising from translation of net assets located outside the U.S. are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive income in the consolidated balance sheets. Income statement amounts are translated at the weighted average exchange rates for the year. Translation adjustments are not adjusted for income taxes, as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. Gains and losses resulting from foreign currency transactions are included in other income, net, in the Company's consolidated statements of operations. | |
Revenue Recognition Revenue and the related cost of sales are generally recognized upon shipment of the products. Revenue for product sales is recognized upon delivery, when persuasive evidence of an arrangement exists, when title and risk of loss have been transferred to the customer, collectability is reasonably assured, and pricing is fixed or determinable. Shipping and handling fees related to sales transactions are billed to customers and are recorded as sales revenue. | |
The Company sells its products throughout the world primarily to companies in the microelectronics industry. The Company performs continuing credit evaluations of its customers and generally does not require collateral. Letters of credit may be required from its customers in certain circumstances. The Company provides for estimated returns when the revenue is recorded based on historical and current trends in both sales and product returns. | |
The Company collects various sales and value-added taxes on certain product and service sales that are accounted for on a net basis. | |
Shipping and handling costs Shipping and handling costs incurred are recorded in cost of sales in the Company's consolidated statements of operations. | |
Engineering, research and development expenses Engineering, research and development costs are expensed as incurred. | |
Share-based Compensation The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. The cost is recognized over the period during which an employee is required to provide services in exchange for the award. Compensation expense is based on the grant date fair value. Because share-based compensation expense recognized in the Company's consolidated statements of operations is based on awards ultimately expected to vest, it has been reduced for expected forfeitures which are estimated at the time of grant with such estimates revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |
Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date. | |
The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. A valuation allowance is recorded to reduce deferred tax assets when it is more likely than not that the Company would not be able to realize all or part of its deferred tax assets. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. | |
The Company’s policy for recording interest and penalties associated with audits and unrecognized tax benefits is to record such items as a component of income before taxes. Penalties and interest to be paid or received are recorded in other income, net, in the statement of operations. | |
Comprehensive Income Comprehensive income represents the change in equity resulting from items other than shareholder investments and distributions. The Company’s foreign currency translation adjustments and minimum pension liability adjustments are included in accumulated other comprehensive income. Comprehensive income and the components of accumulated other comprehensive income are presented in the accompanying consolidated statements of equity and comprehensive income. | |
Recent Accounting Pronouncements | |
In December 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-11, Amendments to Disclosures about Offsetting Assets and Liabilities. The objective of ASU No. 2011-11 is to provide enhanced disclosures that will enable users of its financial statements to evaluate the effect or potential effect of netting arrangements on an entity’s financial position. In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies what instruments and transactions are subject to the offsetting disclosure requirements established by ASU No. 2011-11. Derivative instruments accounted for in accordance with Accounting Standards Codification (ASC) 815, are subject to ASU No. 2011-11 disclosure requirements. These amendments are disclosure related and do not have an impact on the Company’s financial position, results of operations, comprehensive income or cash flows. ASU Nos. 2011-11 and 2013-01 are effective for reporting periods beginning after December 15, 2012. Accordingly, the Company adopted ASU Nos. 2011-11 and 2013-01 in the first quarter of fiscal 2013. The disclosures associated with ASU Nos. 2011-11 and 2013-01 are included in note 14 to the Company’s consolidated financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income that amended ASU No. 2011-12 and ASU No. 2011-05. ASU No. 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either in the consolidated statements of operations or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. These amendments are disclosure related and do not have an impact on the Company’s financial position, results of operations, comprehensive income or cash flows. ASU 2013-02 is effective for reporting periods beginning after December 15, 2012. Accordingly, the Company adopted ASU 2013-02 in the first quarter of fiscal 2013. The disclosures associated with ASU No. 2013-02 are included in the Company’s consolidated statements of equity. |
Acquisitions
Acquisitions | 12 Months Ended | ||
Dec. 31, 2013 | |||
Aquisitions | ' | ||
ACQUISITIONS | |||
Jetalon | |||
On April 1, 2013, the Company acquired substantially all the operating assets and liabilities of Jetalon Solutions, Inc. (Jetalon), a California-based supplier of fluid metrology products. The acquired net assets became part of the Company’s Contamination Control Solutions segment. The transaction was accounted for under the acquisition method of accounting and the results of operations of the entity are included in the Company's consolidated financial statements as of and since April 1, 2013. The acquisition of Jetalon’s assets and liabilities does not constitute a material business combination. | |||
The purchase price for Jetalon includes cash consideration of $13.4 million, funded from the Company's existing cash on hand, and earnout-based contingent consideration of up to a maximum of $14.5 million based on the operating performance of Jetalon in 2013, 2014 and 2015. Costs associated with the acquisition of Jetalon were not significant and were expensed as incurred. | |||
Upon acquisition, the Company recorded a contingent consideration obligation of $3.1 million representing the fair value of the earnout-based contingent consideration. This amount was estimated through a valuation model that incorporates probability-adjusted assumptions relating to the achievement of possible operating results and the likelihood of the Company making payments. | |||
Subsequent changes in the fair value of this obligation will be recognized as adjustments to the contingent consideration obligation and reflected within the Company's consolidated statements of operations. During the third quarter of 2013, the Company assessed the contingent consideration based on the valuation methodology described above and recorded a $1.8 million gain that is reflected in the Company's consolidated statements of operations. | |||
The purchase price of Jetalon consists of the following: | |||
(In thousands): | Amount | ||
Cash paid at closing | $13,358 | ||
Contingent consideration obligation | 3,094 | ||
Total purchase price | $16,452 | ||
The purchase price of Jetalon, including the Company's valuation of contingent consideration, exceeds the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed by $10.1 million. Cash flows used to determine the purchase price included strategic and synergistic benefits (investment value) specific to the Company, which resulted in a purchase price in excess of the fair value of identifiable net assets. The purchase price also includes the fair values of other assets that were not identifiable, not separately recognizable under accounting rules (e.g., assembled workforce) or of immaterial value in addition to a going-concern element that represents the Company's ability to earn a higher rate of return on the group of assets than would be expected on the separate assets as determined during the valuation process. This additional investment value resulted in goodwill, which is included in other non-current assets in the Company's consolidated balance sheets and is expected to be deductible for income tax purposes. | |||
The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of acquisition: | |||
(In thousands): | Amount | ||
Accounts receivable, inventory and other assets | $944 | ||
Identifiable intangible assets | 5,634 | ||
Current liabilities | (216 | ) | |
Net assets acquired | 6,362 | ||
Goodwill | 10,090 | ||
Total purchase price | $16,452 | ||
As of December 31, 2013, the Company has completed its fair value determinations for all elements of the Jetalon acquisition. Intangible assets, consisting mostly of technology-related intellectual property, will be amortized on a straight-line basis over an estimated useful life of approximately 10 years. | |||
Entegris Precision Technologies Corporation (EPT) | |||
On April 2, 2012, the Company acquired the remaining 50% of its EPT joint venture in Taiwan, an equity method investee in which it had previously owned a 50% equity interest. The transaction was accounted for under the acquisition method of accounting and the results of operations of the entity are included in the Company's consolidated financial statements as of and since April 2, 2012. The investee's sales and operating results were not material to the Company's consolidated financial statements. The Company paid $3.4 million in cash for the additional 50% equity interest in the entity. | |||
The Company remeasured its previously held equity interest in the entity at its April 2, 2012 fair value of $2.9 million. Based on the carrying value of the Company's equity interest in EPT before the business combination, the Company recognized a gain of $1.3 million. In addition, in prior reporting periods the Company recognized changes in the value of its equity interest in EPT related to translation adjustments in other comprehensive income. As required under the acquisition method of accounting, the $0.2 million recognized previously in other comprehensive income was reclassified and added in the calculation of the gain noted above. | |||
The purchase price was allocated based on the fair values of all of the assets acquired and liabilities assumed. The sum of the purchase price of the additional 50% equity interest and the fair value of the equity interest in the investee held by the Company at the acquisition date exceeded the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed by $2.2 million, resulting in goodwill, which is included in other non-current assets in the Company's consolidated balance sheets and is not deductible for income tax purposes. EPT is part of the Company’s Contamination Control Solutions segment. | |||
As described above, the Company acquired businesses in 2013 and 2012. As part of the accounting for these transactions, the Company allocated the purchase price of the acquired entities based on the fair value of all the assets acquired and liabilities assumed. The valuation of the assets acquired and liabilities assumed, as well as the Company's contingent consideration obligation in the case of Jetalon and the Company's previously held equity interest in the case of EPT, was based on the information that was available as of the acquisition date and the expectations and assumptions that have been deemed reasonable by the Company's management. See note 14 to the consolidated financial statements for further information about these valuations. | |||
Purchase of Noncontrolling interest. | |||
On April 4, 2011, the Company exercised the second option and purchased the 30% noncontrolling interest in Pureline for $1.5 million. Based on the carrying value of the Company’s noncontrolling interest in Pureline as of the date of the transaction, the Company recorded increases to additional paid-in capital and accumulated other comprehensive income as reflected in the Company’s consolidated statements of equity. The cash outflow is reflected as a financing activity in the Company’s consolidated statements of cash flows. |
Short_Term_Investments
Short - Term Investments | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Short - Term Investments | ' | |||||||||||||||
SHORT-TERM INVESTMENTS | ||||||||||||||||
Available-for-sale investments as of December 31, 2012 were as follows: | ||||||||||||||||
(In thousands) | Cost | Gross | Gross | Fair | ||||||||||||
basis | unrealized | unrealized | value | |||||||||||||
gains | losses | |||||||||||||||
Commercial paper | $ | 19,999 | $ | — | $ | (4 | ) | $ | 19,995 | |||||||
Total available-for-sale investments | $ | 19,999 | $ | — | $ | (4 | ) | $ | 19,995 | |||||||
Investments with continuous unrealized losses for less than 12 months and their related fair values as of December 31, 2012 were as follows: | ||||||||||||||||
Less than 12 months | ||||||||||||||||
(In thousands) | Fair | Gross | ||||||||||||||
value | unrealized | |||||||||||||||
losses | ||||||||||||||||
Commercial paper | $ | 19,995 | $ | (4 | ) | |||||||||||
Total | $ | 19,995 | $ | (4 | ) | |||||||||||
Unrealized losses from corporate bonds are primarily attributable to general changes in interest rates and market conditions. Management does not believe the unrealized losses represent other-than-temporary impairments based on our evaluation of available evidence as of December 31, 2012. | ||||||||||||||||
The amortized cost and fair value of available-for-sale investments as of December 31, 2012, by contractual maturity, were as follows: | ||||||||||||||||
(In thousands) | Cost | Fair | ||||||||||||||
basis | value | |||||||||||||||
Due in 1 year or less | $ | 19,999 | $ | 19,995 | ||||||||||||
Total | $ | 19,999 | $ | 19,995 | ||||||||||||
Trade_Accounts_and_Notes_Recei
Trade Accounts and Notes Receivable | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Trade Accounts and Notes Receivable | ' | |||||||
TRADE ACCOUNTS AND NOTES RECEIVABLE | ||||||||
Trade accounts and notes receivable from customers at December 31, 2013 and 2012 consist of the following: | ||||||||
(In thousands) | 2013 | 2012 | ||||||
Accounts receivable | $ | 94,613 | $ | 86,717 | ||||
Notes receivable | 9,039 | 9,613 | ||||||
103,652 | 96,330 | |||||||
Less allowance for doubtful accounts | 1,779 | 2,314 | ||||||
$ | 101,873 | $ | 94,016 | |||||
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventories | ' | |||||||
INVENTORIES | ||||||||
Inventories at December 31, 2013 and 2012 consist of the following: | ||||||||
(In thousands) | 2013 | 2012 | ||||||
Raw materials | $ | 26,012 | $ | 27,720 | ||||
Work-in-process | 10,512 | 10,242 | ||||||
Finished goods (a) | 56,998 | 60,667 | ||||||
Supplies | 552 | 515 | ||||||
$ | 94,074 | $ | 99,144 | |||||
(a) | Includes consignment inventories held by customers for $5.1 million and $5.2 million at December 31, 2013 and 2012, |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Property, Plant and Equipment | ' | |||||||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||||||
Property, plant, and equipment at December 31, 2013 and 2012 consist of the following: | ||||||||||||
(In thousands) | 2013 | 2012 | Estimated | |||||||||
useful lives in | ||||||||||||
years | ||||||||||||
Land | $ | 12,866 | $ | 11,065 | ||||||||
Buildings and improvements | 109,105 | 85,239 | May-35 | |||||||||
Manufacturing equipment | 168,197 | 151,559 | 10-May | |||||||||
Molds | 76,909 | 79,959 | 5-Mar | |||||||||
Office furniture and equipment | 70,158 | 65,950 | 8-Mar | |||||||||
Construction in progress | 33,021 | 26,551 | ||||||||||
470,256 | 420,323 | |||||||||||
Less accumulated depreciation | 283,816 | 263,302 | ||||||||||
$ | 186,440 | $ | 157,021 | |||||||||
The table below sets forth the depreciation expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Depreciation expense | $ | 29,468 | $ | 28,013 | $ | 26,839 | ||||||
Investments
Investments | 12 Months Ended |
Dec. 31, 2013 | |
Investments | ' |
INVESTMENTS | |
At December 31, 2013 and 2012, the Company held an equity investment for $2.4 million and $2.4 million, respectively, represented by an interest in a privately held company. This investment is accounted for under the cost method. | |
During 2012, the Company acquired the remaining 50% of Entegris Precision Technologies Corporation (EPT) in Taiwan, an entity in which it had previously owned a 50% equity interest accounted for under the equity method. The transaction was accounted for under the acquisition method of accounting and the results of operations of the entity are included in the Company’s consolidated financial statements as of and since April 2, 2012. The investee’s sales and operating results are not material to the Company’s consolidated financial statements. The Company paid $3.4 million in cash for the additional 50% equity interest in the entity. A detailed description of the transaction can be found in note 2 to the consolidated financial statements. | |
During 2011, the Company recorded a gain of $1.5 million on the sale of an equity method investment that was classified within other income, net, in the consolidated statements of operations. A detailed description of the transaction can be found in note 14 under the heading “Items Measured at Fair Value on a Nonrecurring Basis”. |
Intangible_Assets
Intangible Assets | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Intangible Assets | ' | |||||||||||||
INTANGIBLE ASSETS | ||||||||||||||
Intangible assets at December 31, 2013 and 2012 consist of the following: | ||||||||||||||
2013 | ||||||||||||||
(In thousands) | Gross carrying | Accumulated | Net carrying | Weighted | ||||||||||
Amount | amortization | value | average life in | |||||||||||
years | ||||||||||||||
Patents | $ | 1,369 | $ | 649 | $ | 720 | 9.8 | |||||||
Developed technology | 78,686 | 62,257 | 16,429 | 7.4 | ||||||||||
Trademarks and trade names | 13,092 | 7,306 | 5,786 | 12 | ||||||||||
Customer relationships | 57,617 | 39,146 | 18,471 | 11 | ||||||||||
Other | 2,213 | 110 | 2,103 | 13.3 | ||||||||||
$ | 152,977 | $ | 109,468 | $ | 43,509 | 9.3 | ||||||||
2012 | ||||||||||||||
(In thousands) | Gross carrying | Accumulated | Net carrying | Weighted | ||||||||||
amount | amortization | value | average life in | |||||||||||
years | ||||||||||||||
Patents | $ | 19,104 | $ | 18,226 | $ | 878 | 9.1 | |||||||
Developed technology | 76,414 | 59,147 | 17,267 | 7.5 | ||||||||||
Trademarks and trade names | 12,677 | 6,633 | 6,044 | 12.1 | ||||||||||
Customer relationships | 56,700 | 33,761 | 22,939 | 11.1 | ||||||||||
Other | 1,510 | 1,431 | 79 | 9.4 | ||||||||||
$ | 166,405 | $ | 119,198 | $ | 47,207 | 9.3 | ||||||||
The table below sets forth the amortization expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Amortization expense | $ | 9,347 | $ | 9,594 | $ | 10,225 | ||||||||
The amortization expense for each of the five succeeding years and thereafter relating to intangible assets currently recorded in the Company's consolidated balance sheets is estimated to be the following at December 31, 2013: | ||||||||||||||
Fiscal year ending December 31 | (In thousands) | |||||||||||||
2014 | $ | 8,441 | ||||||||||||
2015 | 6,394 | |||||||||||||
2016 | 6,394 | |||||||||||||
2017 | 6,394 | |||||||||||||
2018 | 5,547 | |||||||||||||
Thereafter | 10,339 | |||||||||||||
$ | 43,509 | |||||||||||||
Financing_Arrangements
Financing Arrangements | 12 Months Ended |
Dec. 31, 2013 | |
Financing Arrangements | ' |
FINANCING ARRANGEMENTS | |
On June 9, 2011, the Company entered into a Credit Agreement (Agreement) with Wells Fargo Bank, National Association, as administrative agent, and certain other banks parties thereto. | |
The Agreement provides for a $30.0 million revolving credit facility maturing June 9, 2014. The financial covenants in the Agreement require that the Company maintain a cash flow leverage ratio of at least 3.0 to 1.0, measured by comparing quarterly total funded debt to EBITDA. In addition, the Company and its subsidiaries must maintain minimum cash and cash equivalents and certain other approved investments of at least $25.0 million, with $10.0 million held by the Borrowers with the Agent or its affiliates in bank accounts in the United States. Cash and cash equivalents and investments held by foreign subsidiaries are valued at 65% of the applicable currency value for purposes of these calculations. In addition to the financial metric covenants required under the revolving credit facility, under the terms of the Agreement, as amended in August 2012, the Company is restricted from making annual capital expenditures during any fiscal year in excess of $85.0 million. At both December 31, 2013 and 2012, the Company had no outstanding borrowings and was in compliance with all applicable debt covenants included in the terms of the Agreement. The Company expects that the revolving credit facility will be terminated upon consummation of the prospective acquisition described in note 18 to the consolidated financial statements. | |
Under the terms of the Agreement, the Company may elect that the loans comprising each borrowing bear interest at a rate per annum equal to either (a) the sum of 2.50%, plus the one month LIBOR rate then in effect, for base rate loans (“Base Rate Loans”); or (b) the sum of 2.50% plus, (i) the one-month LIBOR rate then in effect, (ii) the two-month LIBOR rate then in effect or (iii) the three-month LIBOR rate then in effect, for LIBOR loans (“LIBOR Loans”). The interest rate on Base Rate Loans will remain the same while such loan is outstanding, while the interest rate for LIBOR Loans will only be effective for the interest period which corresponds to the effective LIBOR rate. LIBOR Loans will convert to Base Rate Loans at the end of an applicable interest period unless the Company requests a new LIBOR Loan. Base Rate Loans may be converted to LIBOR Loans at the Company’s option with three days notice to the Agent. In addition, the Company pays a commitment fee of 0.375% on the unborrowed commitments under the Agreement. | |
The Company has entered into unsecured line of credit agreements, which expire at various dates, with two international commercial banks, which provide for borrowings of Japanese yen for its foreign subsidiaries, equivalent to $11.4 million as of December 31, 2013. Interest rates for these facilities are based on a factor of the banks’ reference rates. Borrowings outstanding under international line of credit agreements were none at both December 31, 2013 and 2012. |
Lease_Commitments
Lease Commitments | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Lease Commitments | ' | |||
LEASE COMMITMENTS | ||||
As of December 31, 2013, the Company was obligated under noncancellable operating lease agreements for certain sales offices and manufacturing facilities, manufacturing equipment, vehicles, information technology equipment and warehouse space. Future minimum lease payments for noncancellable operating leases with initial or remaining terms in excess of one year are as follows: | ||||
Fiscal year ending December 31 | (In thousands) | |||
2014 | $ | 7,014 | ||
2015 | 6,264 | |||
2016 | 4,051 | |||
2017 | 3,430 | |||
2018 | 3,211 | |||
Thereafter | 669 | |||
Total minimum lease payments | $ | 24,639 | ||
Total rental expense for all equipment and building operating leases for the years ended December 31, 2013, 2012, and 2011, were $9.5 million, $9.4 million, and $9.4 million, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Taxes | ' | |||||||||||
INCOME TAXES | ||||||||||||
Income before income taxes for the years ended December 31, 2013, 2012 and 2011 was derived from the following sources: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Domestic | $ | 29,066 | $ | 49,056 | $ | 68,839 | ||||||
Foreign | 67,129 | 50,647 | 59,125 | |||||||||
Income before income taxes | $ | 96,195 | $ | 99,703 | $ | 127,964 | ||||||
Income tax (benefit) expense for the years ended December 31, 2013, 2012, and 2011 is summarized as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Current: | ||||||||||||
Federal | $ | 854 | $ | 5,797 | $ | 2,382 | ||||||
State | 772 | 654 | 1,335 | |||||||||
Foreign | 12,937 | 11,183 | 17,784 | |||||||||
14,563 | 17,634 | 21,501 | ||||||||||
Deferred (net of valuation allowance): | ||||||||||||
Federal | 6,003 | 11,165 | (19,853 | ) | ||||||||
State | (650 | ) | 168 | (647 | ) | |||||||
Foreign | 1,753 | 1,914 | 3,216 | |||||||||
7,106 | 13,247 | (17,284 | ) | |||||||||
Income tax expense | $ | 21,669 | $ | 30,881 | $ | 4,217 | ||||||
Income tax expense differs from the expected amounts based upon the statutory federal tax rates for the years ended December 31, 2013, 2012, and 2011 as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Expected federal income tax at statutory rate | $ | 33,668 | $ | 34,896 | $ | 44,788 | ||||||
State income taxes before valuation allowance, net of federal tax effect | (357 | ) | 440 | 1,013 | ||||||||
Income (losses) without tax expense (benefit) | 22 | (40 | ) | (1,357 | ) | |||||||
Effect of foreign source income | (10,583 | ) | (5,314 | ) | 1,959 | |||||||
Valuation allowance | 445 | 358 | (41,038 | ) | ||||||||
U.S. federal research credit | (3,233 | ) | (790 | ) | (1,412 | ) | ||||||
Other items, net | 1,707 | 1,331 | 264 | |||||||||
Income tax expense | $ | 21,669 | $ | 30,881 | $ | 4,217 | ||||||
As a result of commitments made by the Company related to investments in tangible property and equipment, the establishment of a research and development center in 2006 and certain employment commitments, income from certain manufacturing activities in Malaysia is exempt from tax for years up through 2015. The income tax benefits attributable to the tax status of this subsidiary are estimated to be $5.4 million ($0.04 cents per diluted share), $2.4 million ($0.02 cents per diluted share), and $0 million for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||
The significant components of the Company’s deferred tax assets and deferred tax liabilities at December 31, 2013 and 2012 are as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||
Deferred tax assets attributable to: | ||||||||||||
Accounts receivable | $ | 269 | $ | 389 | ||||||||
Inventory | 2,853 | 2,643 | ||||||||||
Accruals not currently deductible for tax purposes | 8,844 | 10,054 | ||||||||||
Net operating loss and credit carryforwards | 3,972 | 2,669 | ||||||||||
Capital loss carryforward | 2,779 | 3,105 | ||||||||||
Depreciation | 1,070 | 2,870 | ||||||||||
Equity compensation | 3,157 | 3,155 | ||||||||||
Asset impairments | 732 | 1,021 | ||||||||||
Purchased intangible assets | 1,439 | 1,396 | ||||||||||
Other, net | 2,976 | 3,604 | ||||||||||
Gross deferred tax assets | 28,091 | 30,906 | ||||||||||
Valuation allowance | (5,435 | ) | (4,990 | ) | ||||||||
Total deferred tax assets | 22,656 | 25,916 | ||||||||||
Deferred tax liabilities attributable to: | ||||||||||||
Depreciation | (3,245 | ) | (1,252 | ) | ||||||||
Purchased intangible assets | (601 | ) | (692 | ) | ||||||||
Total deferred tax liabilities | (3,846 | ) | (1,944 | ) | ||||||||
Net deferred tax assets | $ | 18,810 | $ | 23,972 | ||||||||
Deferred tax assets are generally required to be reduced by a valuation allowance if, based on the weight of available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. | ||||||||||||
As of December 31, 2013 and 2012, the Company had a net U.S. deferred tax asset position of $16.0 million and $18.7 million, respectively, which are composed of temporary differences and various tax credit carryforwards. Management believes that it is more likely than not that the benefit from certain state net operating loss carryforwards, state credits, and a federal capital loss carryforward will not be realized. In recognition of this risk, management has provided a valuation allowance of $5.4 million and $4.4 million as of December 31, 2013 and 2012, respectively, on the related deferred tax assets. If the assumptions change and management determines the assets will be realized, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets at December 31, 2013 will be recognized as a reduction of income tax expense. Management estimates taxable income of $21.5 million will be necessary to utilize the remaining U.S. deferred tax assets as of December 31, 2013. | ||||||||||||
As of December 31, 2013 and 2012, the Company had a net non-U.S. deferred tax asset position of $8.2 million and $10.2 million, respectively, for which management determined based upon the available evidence a valuation allowance of $0.0 million and $0.6 million as of December 31, 2013 and 2012, respectively, were required against the non-U.S. deferred tax assets. For other non-U.S. jurisdictions, management is relying upon projections of future taxable income to utilize deferred tax assets. Estimated taxable income of $26.9 million will be necessary to utilize the non-U.S. deferred tax assets, of which an estimated $18.2 million is related to Nihon Entegris KK, the Company’s Japanese subsidiary. | ||||||||||||
At December 31, 2013, there were approximately $257.0 million of accumulated undistributed earnings of subsidiaries outside the United States, all of which are considered to be reinvested indefinitely. Management has considered its future cash needs and affirms its intention to indefinitely invest such earnings overseas to be utilized for working capital purposes, expansion of existing operations, possible acquisitions and other international items. No U.S. tax has been provided on such earnings. If they were remitted to the Company, applicable U.S. federal and foreign withholding taxes may be partially offset by available foreign tax credits. Management has concluded that it is impracticable to compute the full actual tax impact, but it estimates that $6.3 million of withholding taxes would be incurred if the $257.0 million were distributed. | ||||||||||||
At December 31, 2013, the Company had state operating loss carryforwards of approximately $2.0 million, which begin to expire in 2014; foreign tax credit carryforwards of approximately $3.2 million, which begin to expire in 2019; and foreign operating loss carryforwards of $1.2 million, which begin to expire in 2015. | ||||||||||||
Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax positions will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that fail to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The provisions also provide guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties. | ||||||||||||
Reconciliations of the beginning and ending balances of the total amounts of gross unrecognized tax benefits for the years ended December 31, 2013 and 2012 are as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||
Gross unrecognized tax benefits at beginning of year | $ | 5,419 | $ | 2,467 | ||||||||
Increases in tax positions for prior years | 28 | — | ||||||||||
Decreases in tax positions for prior years | — | (19 | ) | |||||||||
Increases in tax positions for current year | 1,879 | 4,608 | ||||||||||
Settlements | (2,298 | ) | (1,044 | ) | ||||||||
Lapse in statute of limitations | (751 | ) | (593 | ) | ||||||||
Gross unrecognized tax benefits at end of year | $ | 4,277 | $ | 5,419 | ||||||||
The total amount of net unrecognized tax benefits that, if recognized, would affect the effective tax rate was $1.9 million at December 31, 2013. | ||||||||||||
Penalties and interest paid or received are recorded in other income, net, in the consolidated statements of operations. For the years ended December 31, 2013 and 2012, the Company has accrued interest and penalties related to unrecognized tax benefits of $0.8 million and $1.0 million, respectively. Credits of $0.1 million, $0.0 million and $0.0 million were recognized as interest and penalties in the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||
The Company files income tax returns in the U.S. and in various state, local and foreign jurisdictions. The statutes of limitations related to the consolidated Federal income tax return and state returns are closed for all years up to and including 2009 and 12/31/2009, respectively. With respect to foreign jurisdictions, the statute of limitations varies from country to country, with the earliest open year for the Company’s major foreign subsidiaries being 2007. | ||||||||||||
Due to the potential for resolution of a foreign examination and the expiration of various statutes of limitations, it is reasonably possible that the Company’s gross unrecognized tax benefit balance may decrease within the next twelve months by approximately $1.4 million. |
Equity
Equity | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity | ' | ||||||||||||||||||||
EQUITY | |||||||||||||||||||||
Share Repurchase Program | |||||||||||||||||||||
On December 12, 2012, the Board of Directors authorized a repurchase program covering up to an aggregate of $50.0 million of the Company’s common stock in open market transactions and in accordance with one or more pre-arranged stock trading plans established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The repurchase program expired on February 7, 2014. The Company's current pre-arranged stock trading plan was established on August 14, 2013 and expired February 7, 2014 and covered the repurchase of up to $36.2 million of the registrant’s common stock. | |||||||||||||||||||||
2010 Stock Plan | |||||||||||||||||||||
At December 31, 2009, the Company had outstanding stock awards under five stock incentive plans: the Entegris, Inc. 1999 Long-Term Incentive and Stock Option Plan; the Entegris, Inc. Outside Directors’ Option Plan and three former Mykrolis stock option plans assumed by the Company on August 10, 2005; the 2001 Equity Incentive Plan; the 2003 Employment Inducement and Acquisition Stock Option Plan; and the 2001 Non-Employee Director Stock Option Plan. On December 17, 2009, the Company’s Board of Directors approved the 2010 Stock Plan, subject to the approval of the Company’s stockholders. On May 5, 2010, the stockholders approved the 2010 Stock Plan. The 2010 Stock Plan replaced the above existing plans for future stock awards and stock option grants. Subsequent to the replacement of the prior plans on May 5, 2010, no awards were or will be made under the prior plans. | |||||||||||||||||||||
The 2010 Stock Plan provides for the issuance of stock options and other share-based awards to selected employees, directors, and other individuals or entities that provide services to the Company or its affiliates. The 2010 Stock Plan has a term of ten years. Under the 2010 Stock Plan, the Board of Directors or a committee selected by the Board of Directors will determine for each award, the term, price, number of shares, rate at which each award is exercisable and whether restrictions are imposed on the shares subject to the awards. The exercise price for option awards generally may not be less than the fair market value per share of the underlying common stock on the date granted. The 2010 Stock Plan allows that after December 31, 2009 any stock awards that were awarded from the expired plans mentioned above that are forfeited, expired or otherwise terminated without issuance of such stock award again be available for issuance under the 2010 Stock Plan. | |||||||||||||||||||||
General Option Information | |||||||||||||||||||||
Option activity for the 2010 Stock Plan and predecessor plans for the years ended December 31, 2013, 2012 and 2011 is summarized as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(Shares in thousands) | Number of | Weighted | Number of | Weighted | Number of | Weighted | |||||||||||||||
shares | average | shares | average | shares | average | ||||||||||||||||
exercise | exercise | exercise | |||||||||||||||||||
price | price | price | |||||||||||||||||||
Options outstanding, beginning of year | 2,565 | $ | 8.2 | 3,561 | $ | 6.53 | 5,001 | $ | 6.25 | ||||||||||||
Granted | 553 | 9.88 | 470 | 9.27 | 511 | 8.75 | |||||||||||||||
Exercised | (786 | ) | 7.54 | (1,293 | ) | 3.76 | (1,698 | ) | 5.95 | ||||||||||||
Expired or Forfeited | (371 | ) | 12.1 | (173 | ) | 9.83 | (253 | ) | 9.41 | ||||||||||||
Options outstanding, end of year | 1,961 | $ | 8.2 | 2,565 | $ | 8.2 | 3,561 | $ | 6.53 | ||||||||||||
Options exercisable, end of year | 1,001 | $ | 6.92 | 1,828 | $ | 8.18 | 2,078 | $ | 7.53 | ||||||||||||
Options outstanding for the Company’s stock plans at December 31, 2013 are summarized as follows: | |||||||||||||||||||||
(Shares in thousands) | Options outstanding | Options exercisable | |||||||||||||||||||
Range of exercise prices | Number | Weighted | Weighted- | Number | Weighted | ||||||||||||||||
outstanding | average | average | exercisable | average | |||||||||||||||||
remaining life | exercise | exercise | |||||||||||||||||||
in years | price | ||||||||||||||||||||
price | |||||||||||||||||||||
$1.13 to $8.37 | 684 | 1.9 years | $ | 5.67 | 684 | $ | 5.67 | ||||||||||||||
$8.47 to $9.27 | 642 | 4.6 years | 9 | 235 | 8.9 | ||||||||||||||||
$9.40 to $14.50 | 635 | 5.4 years | 10.11 | 82 | 11.65 | ||||||||||||||||
1,961 | 3.9 years | 8.2 | 1,001 | 6.92 | |||||||||||||||||
The weighted average remaining contractual term for options outstanding and exercisable for all plans at December 31, 2013 was 3.9 years and 2.4 years, respectively. | |||||||||||||||||||||
For all plans, the Company had shares available for future grants of 6.8 million shares, 7.7 million shares, and 8.6 million shares at December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||
For all plans, the total pre-tax intrinsic value of stock options exercised during the years ended December 31, 2013 and 2012 was $1.8 million and $6.7 million, respectively. The aggregate intrinsic value, which represents the total pre-tax intrinsic value based on the Company’s closing stock price of $11.59 at December 31, 2013, which theoretically could have been received by the option holders had all option holders exercised their options as of that date, was $6.7 million and $4.8 million for options outstanding and options exercisable, respectively. | |||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||
The Company maintains the Entegris, Inc. Employee Stock Purchase Plan (ESPP). A total of 4.0 million common shares are reserved for issuance under the ESPP. The ESPP allows employees to elect, at six-month intervals, to contribute up to 10% of their compensation, subject to certain limitations, to purchase shares of common stock at a discount of 15% from the fair market value on the first day or last day of each six-month period. The Company treats the ESPP as a compensatory plan. As of December 31, 2013, 3.5 million shares had been issued under the ESPP. At December 31, 2013, 0.5 million shares remained available for issuance under the ESPP. Employees purchased 0.2 million shares, 0.3 million shares, and 0.4 million shares, at a weighted-average price of $8.00, $7.34, and $4.35 during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||
The table below sets forth the amount of cash received by the Company from the exercise of stock options and employee contributions to the ESPP during the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||
Exercise of stock options and employee contributions to the ESPP | $ | 7,685 | $ | 7,431 | $ | 11,690 | |||||||||||||||
Restricted Stock Awards | |||||||||||||||||||||
Restricted stock awards are awards of common stock made under the 2010 Stock Plan that are subject to restrictions on transfer and to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such stock is determined using the market price on the grant date. Compensation expense for restricted stock awards is generally recognized using the straight-line single-option method. A summary of the Company’s restricted stock activity for the years ended December 31, 2013, 2012 and 2011 is presented in the following table: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(Shares in thousands) | Number | Weighted | Number | Weighted | Number | Weighted | |||||||||||||||
of | average | of | average | of | average | ||||||||||||||||
shares | grant date | shares | grant date | shares | grant date | ||||||||||||||||
fair value | fair value | fair value | |||||||||||||||||||
Unvested, beginning of year | 1,802 | $ | 7.02 | 2,298 | $ | 5.49 | 2,738 | $ | 4.43 | ||||||||||||
Granted | 717 | 9.85 | 744 | 9.21 | 795 | 8.65 | |||||||||||||||
Vested | (871 | ) | 5.67 | (1,132 | ) | 5.42 | (1,087 | ) | 5.22 | ||||||||||||
Forfeited | (78 | ) | 8.66 | (108 | ) | 6.22 | (148 | ) | 4.89 | ||||||||||||
Unvested, end of year | 1,570 | $ | 8.98 | 1,802 | $ | 7.02 | 2,298 | $ | 5.49 | ||||||||||||
The weighted average remaining contractual term for unvested restricted shares at December 31, 2013 and 2012 was 2.0 years and 1.8 years, respectively. | |||||||||||||||||||||
As of December 31, 2013, the total compensation cost related to unvested stock options and restricted stock awards not yet recognized was $3.1 million and $9.8 million, respectively, and is expected to be recognized over the next 2.4 years on a weighted-average basis. | |||||||||||||||||||||
Valuation and Expense Information | |||||||||||||||||||||
The Company recognizes compensation expense for all share-based payment awards made to employees and directors based on their estimated fair values on the date of grant. Share-based compensation expense is based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period.The following table summarizes the allocation of share-based compensation expense related to employee stock options, restricted stock awards and grants under the employee stock purchase plan accounted for under ASC 718 for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||
Cost of sales | $ | 690 | $ | 575 | $ | 650 | |||||||||||||||
Engineering, research and development expenses | 502 | 500 | 566 | ||||||||||||||||||
Selling, general and administrative expenses | 6,736 | 8,806 | 6,303 | ||||||||||||||||||
Share-based compensation expense | 7,928 | 9,881 | 7,519 | ||||||||||||||||||
Tax benefit | 2,643 | 3,686 | 2,805 | ||||||||||||||||||
Share-based compensation expense, net of tax | $ | 5,285 | $ | 6,195 | $ | 4,714 | |||||||||||||||
Stock Options | |||||||||||||||||||||
Share-based payment awards in the form of stock option awards for 0.6 million, 0.5 million and 0.5 million options were granted to employees during the years ended December 31, 2013, 2012, and 2011. Compensation expense is based on the grant date fair value. The awards vest annually over a three-year or four-year period and have a contractual term of seven years. The Company estimates the fair value of stock options using the Black-Scholes valuation model. Key inputs and assumptions used to estimate the fair value of stock options include the grant price of the award, the expected option term, volatility of the Company’s stock, the risk-free rate and the Company’s dividend yield. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by employees who receive equity awards, and subsequent events are not indicative of reasonableness of the original estimates of fair value made by the Company. | |||||||||||||||||||||
The fair value of each stock option grant was estimated at the date of grant using a Black-Scholes option pricing model. The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
Employee stock options: | 2013 | 2012 | 2011 | ||||||||||||||||||
Volatility | 51.7 | % | 82.4 | % | 79.3 | % | |||||||||||||||
Risk-free interest rate | 0.7 | % | 0.6 | % | 1.8 | % | |||||||||||||||
Dividend yield | — | % | — | % | — | % | |||||||||||||||
Expected life (years) | 3.6 | 3.8 | 4 | ||||||||||||||||||
Weighted average fair value per option | $ | 3.8 | $ | 5.42 | $ | 5.14 | |||||||||||||||
A historical daily measurement of volatility is determined based on the expected life of the option granted. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected life of the option granted. Expected life is determined by reference to the Company’s historical experience. The Company determines the dividend yield by dividing the expected annual dividend on the Company’s stock by the option exercise price. | |||||||||||||||||||||
Shareholder Rights Plan On July 27, 2005, the Company’s Board of Directors adopted a shareholder rights plan (the “Rights Plan”) pursuant to which Entegris declared a dividend on August 8, 2005 to its shareholders of record on that date of one preferred share purchase right (a “Right”) for each share of Entegris common stock owned on August 8, 2005 and authorized the issuance of Rights in connection with future issuances of Entegris common stock. Each Right entitles the holder to purchase one-hundredth of a share of a series of preferred stock at an exercise price of $50, subject to adjustment as provided in the Rights Plan. The Rights Plan is designed to protect Entegris’ shareholders from attempts by others to acquire Entegris on terms or by using tactics that could deny all shareholders the opportunity to realize the full value of their investment. The Rights are attached to the shares of the Company’s common stock until certain triggering events specified in the Rights Agreement occur, including, unless approved by the Company’s Board of Directors, an acquisition by a person or group of specified levels of beneficial ownership of Entegris common stock or a tender offer for Entegris common stock. Upon the occurrence of any of these triggering events, the Rights authorize the holders to purchase at the then-current exercise price for the Rights, that number of shares of the Company’s common stock having a value equal to twice the exercise price. The Rights are redeemable by the Company for $0.01 and will expire on August 8, 2015. One of the events which will trigger the Rights is the acquisition, or commencement of a tender offer, by a person (an Acquiring Person, as defined in the shareholder rights plan), other than Entegris or any of its subsidiaries or employee benefit plans, of 15% or more of the outstanding shares of the Company’s common stock. An Acquiring Person may not exercise a Right. |
Benefit_Plans
Benefit Plans | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Benefit Plans | ' | |||||||||||||
BENEFIT PLANS | ||||||||||||||
401(k) Plan The Company maintains the Entegris, Inc. 401(k) Savings and Profit Sharing Plan (the 401(k) Plan) that qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under the Plan, eligible employees may defer a portion of their pre-tax wages, up to the Internal Revenue Service annual contribution limit. Entegris matches employees’ contributions to a maximum match of 4% of the employee’s eligible wages. The employer matching contribution expense under the Plan was $3.2 million, $3.0 million and $3.2 million in the fiscal years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||
Defined Benefit Plans The employees of the Company’s subsidiaries in Japan, Taiwan and Germany are covered in defined benefit pension plans. The Company uses a December 31 measurement date for its pension plans. | ||||||||||||||
The tables below set forth the Company’s estimated funded status as of December 31, 2013 and 2012: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Change in benefit obligation: | ||||||||||||||
Benefit obligation at beginning of year | $ | 12,607 | $ | 16,364 | ||||||||||
Service cost | 98 | 89 | ||||||||||||
Interest cost | 122 | 163 | ||||||||||||
Actuarial gain | (158 | ) | 367 | |||||||||||
Benefits paid | (1,072 | ) | (3,329 | ) | ||||||||||
Foreign exchange impact | (1,742 | ) | (1,047 | ) | ||||||||||
Benefit obligation at end of year | 9,855 | 12,607 | ||||||||||||
Change in plan assets: | ||||||||||||||
Fair value of plan assets at beginning of year | 382 | 357 | ||||||||||||
Return on plan assets | 5 | 4 | ||||||||||||
Employer contributions | 9 | 8 | ||||||||||||
Foreign exchange impact | (12 | ) | 13 | |||||||||||
Fair value of plan assets at end of year | 384 | 382 | ||||||||||||
Funded status: | ||||||||||||||
Plan assets less than benefit obligation - Net amount recognized | $ | (9,471 | ) | $ | (12,225 | ) | ||||||||
Amounts recognized in the consolidated balance sheets consist of: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Noncurrent liability | $ | (9,471 | ) | $ | (12,225 | ) | ||||||||
Accumulated other comprehensive loss, net of taxes | 857 | 1,059 | ||||||||||||
Amounts recognized in accumulated other comprehensive loss, net of tax consist of: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Net actuarial loss | $ | 811 | $ | 1,028 | ||||||||||
Prior service cost | 259 | 287 | ||||||||||||
Unrecognized transition obligation | (11 | ) | (12 | ) | ||||||||||
Gross amount recognized | 1,059 | 1,303 | ||||||||||||
Deferred income taxes | (202 | ) | (244 | ) | ||||||||||
Net amount recognized | $ | 857 | $ | 1,059 | ||||||||||
Information for pension plans with an accumulated benefit obligation in excess of plan assets: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Projected benefit obligation | $ | 9,855 | $ | 12,607 | ||||||||||
Accumulated benefit obligation | 8,651 | 11,293 | ||||||||||||
Fair value of plan assets | 384 | 382 | ||||||||||||
The components of the net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Pension benefits: | ||||||||||||||
Service cost | $ | 98 | $ | 89 | $ | 1,268 | ||||||||
Interest cost | 122 | 163 | 290 | |||||||||||
Expected return on plan assets | (7 | ) | (7 | ) | (65 | ) | ||||||||
Amortization of prior service cost | 19 | 19 | 126 | |||||||||||
Amortization of net transition obligation | (1 | ) | (1 | ) | (1 | ) | ||||||||
Amortization of plan loss | 219 | 20 | 49 | |||||||||||
Recognized actuarial net loss | 8 | 1 | 1 | |||||||||||
Acquisition | — | — | 16 | |||||||||||
Curtailments | — | — | (726 | ) | ||||||||||
Net periodic pension benefit cost | $ | 458 | $ | 284 | $ | 958 | ||||||||
The estimated amount that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2014 is as follows: | ||||||||||||||
(In thousands) | ||||||||||||||
Transition obligation | $ | (1 | ) | |||||||||||
Prior service cost | 19 | |||||||||||||
Net actuarial loss | 29 | |||||||||||||
$ | 47 | |||||||||||||
Assumptions used in determining the benefit obligation and net periodic benefit cost for the Company’s pension plans for the years ended December 31, 2013, 2012 and 2011 are presented in the following table as weighted-averages: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Benefit obligations: | ||||||||||||||
Discount rate | 1.23 | % | 1.19 | % | 1.4 | % | ||||||||
Rate of compensation increase | 4.1 | % | 4.18 | % | 4.22 | % | ||||||||
Net periodic benefit cost: | ||||||||||||||
Discount rate | 1.41 | % | 1.8 | % | 1.38 | % | ||||||||
Rate of compensation increase | 2.01 | % | 2.84 | % | 5.14 | % | ||||||||
Expected return on plan assets | 0.7 | % | 1.14 | % | 1.52 | % | ||||||||
The plans’ expected return on assets as shown above is based on management’s expectations of long-term average rates of return to be achieved by the underlying investment portfolios. In establishing this assumption, management considers historical and expected returns for the asset classes in which the plans are invested, as well as current economic and capital market conditions. The discount rate primarily used by the Company is based on market yields at the valuation date on government bonds as well as the estimated maturity of benefit payments. | ||||||||||||||
Plan Assets | ||||||||||||||
At December 31, 2013 and 2012, the Company’s pension plan assets are deposited in Bank of Taiwan in the form of money market funds, where Bank of Taiwan is the assigned funding vehicle for the statutory retirement benefit. | ||||||||||||||
The fair value measurements of the Company’s pension plan assets at December 31, 2013, by asset category are as follows: | ||||||||||||||
(In thousands) | Quoted prices | Significant | Significant | |||||||||||
in active | observable | unobservable | ||||||||||||
markets for | inputs | inputs | ||||||||||||
identical | ||||||||||||||
assets | ||||||||||||||
Asset category | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Taiwan plan assets (a) | $ | 384 | $ | 384 | — | — | ||||||||
$ | 384 | $ | 384 | — | — | |||||||||
(a) | This category includes investments in the government of Taiwan’s pension fund. The government of Taiwan is responsible for the strategy and allocation of the investment contributions. | |||||||||||||
The fair value measurements of the Company’s pension plan assets at December 31, 2012, by asset category are as follows: | ||||||||||||||
(In thousands) | Quoted prices | Significant | Significant | |||||||||||
in active | observable | unobservable | ||||||||||||
markets for | inputs | inputs | ||||||||||||
identical | ||||||||||||||
assets | ||||||||||||||
Asset category | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Taiwan plan assets (a) | $ | 382 | $ | 382 | — | — | ||||||||
$ | 382 | $ | 382 | — | — | |||||||||
(a) | This category includes investments in the government of Taiwan’s pension fund. The government of Taiwan is responsible for the strategy and allocation of the investment contributions. | |||||||||||||
Cash Flows | ||||||||||||||
The Company expects to make the following contributions and benefit payments: | ||||||||||||||
(In thousands) | Contributions | Payments | ||||||||||||
2014 | $ | 9 | $ | 242 | ||||||||||
2015 | — | 123 | ||||||||||||
2016 | — | 195 | ||||||||||||
2017 | — | 265 | ||||||||||||
2018 | — | 293 | ||||||||||||
Years 2019-2023 | — | 2,340 | ||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
Generally accepted accounting principles establish a fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of the fair value hierarchy are as follows: | ||||||||||||||||||||||||||||||||
Level 1—Quoted prices in active markets accessible at the reporting date for identical assets and liabilities. | ||||||||||||||||||||||||||||||||
Level 2—Quoted prices for similar assets or liabilities in active markets. Quoted prices for identical or similar assets and liabilities in markets that are not considered active or financial instruments for which all significant inputs are observable, either directly or indirectly. | ||||||||||||||||||||||||||||||||
Level 3—Prices or valuations that require inputs that are significant to the valuation and are unobservable. | ||||||||||||||||||||||||||||||||
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. | ||||||||||||||||||||||||||||||||
Financial Assets Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||||||||||||||
The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Cash equivalents | ||||||||||||||||||||||||||||||||
Commercial paper | $ | — | $ | 49,988 | $ | — | $ | 49,988 | $ | — | $ | 59,980 | $ | — | $ | 59,980 | ||||||||||||||||
Money market fund deposits | 118,090 | — | — | 118,090 | 73,026 | — | — | 73,026 | ||||||||||||||||||||||||
Short-term investments | ||||||||||||||||||||||||||||||||
Commercial paper | — | — | — | — | — | 19,995 | — | 19,995 | ||||||||||||||||||||||||
Total assets measured and recorded at fair value | $ | 118,090 | $ | 49,988 | $ | — | $ | 168,078 | $ | 73,026 | $ | 79,975 | $ | — | $ | 153,001 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | $ | — | $ | 514 | $ | — | $ | 514 | $ | — | $ | 4,603 | $ | — | $ | 4,603 | ||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | 1,282 | $ | 1,282 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Total liabilities measured and recorded at fair value | $ | — | $ | 514 | $ | 1,282 | $ | 1,796 | $ | — | $ | 4,603 | $ | — | $ | 4,603 | ||||||||||||||||
The following table provides information about derivative positions held by the Company as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
(In thousands) | Gross | Gross | Net amount | Gross | Gross | Net amount of | ||||||||||||||||||||||||||
amounts of | amounts | of liabilities | amounts | amounts | liabilities in the | |||||||||||||||||||||||||||
recognized | offset in the | in the | of | offset in the | consolidated | |||||||||||||||||||||||||||
liabilities | consolidated | consolidated | recognized | consolidated | balance sheet | |||||||||||||||||||||||||||
balance | balance | liabilities | balance | |||||||||||||||||||||||||||||
sheet | sheet | sheet | ||||||||||||||||||||||||||||||
Foreign exchange forward contracts | $620 | $106 | $514 | $4,730 | $127 | $4,603 | ||||||||||||||||||||||||||
Gains and losses associated with derivatives are recorded in other income, net, in the consolidated statements of operations. Losses associated with derivative instruments not designated as hedging instruments for the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||
Losses on foreign currency forward contracts | $5,726 | $5,759 | ||||||||||||||||||||||||||||||
Items Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||||||||||||||
As described in note 2 to the consolidated financial statements, the Company acquired businesses in 2013 and 2012. As part of the accounting for these transactions, the Company allocated the purchase price of the acquired entities based on the fair value of all the assets acquired and liabilities assumed. The valuation of the assets acquired and liabilities assumed, as well as the Company's contingent consideration obligation in the case of Jetalon and the Company's previously held equity interest in the case of EPT, was based on the information that was available as of the acquisition date and the expectations and assumptions that have been deemed reasonable by the Company's management. | ||||||||||||||||||||||||||||||||
In performing these valuations, the Company used independent appraisals, discounted cash flows and other factors as the best evidence of fair value. The key underlying assumptions of the discounted cash flows were projected revenues, gross margin expectations and operating cost estimates. There are inherent uncertainties and management judgment required in these determinations. No assurance can be given that the underlying assumptions will occur as projected. The fair value measurements of the assets acquired and liabilities assumed were based on valuations involving significant unobservable inputs, or Level 3 in the fair value hierarchy. | ||||||||||||||||||||||||||||||||
In the second quarter of 2011, the Company recorded a gain of $1.5 million on the sale of an equity investment that was classified within other income, net, in the consolidated statements of operations. The gain comprised two components—a $0.2 million loss related to the disposition of the equity interest and a $1.7 million gain related to the cumulative translation reclassification adjustment associated with the equity method investee. The carrying value of the investment at the time of the sale was $4.1 million. The Company received assets recorded at fair value of $3.9 million ($1.8 million of cash, $0.4 million of equipment, and $1.7 million of intangible assets) resulting in the aforementioned loss. The fair value measurement of the intangible assets received was based on valuations involving significant unobservable inputs, generally utilizing the market approach, or Level 3 in the fair value hierarchy. |
Earning_Per_Share_EPS
Earning Per Share (EPS) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Earning Per Share (EPS) | ' | ||||||||
EARNINGS PER SHARE (EPS) | |||||||||
Basic EPS is computed by dividing net income attributable to Entegris, Inc. by the weighted average number of shares of common stock outstanding during each period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share: | |||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||
Basic earnings per share—Weighted common shares outstanding | 138,950 | 137,306 | 134,685 | ||||||
Weighted common shares assumed upon exercise of options and vesting of restricted stock units | 668 | 1,106 | 1,538 | ||||||
Diluted earnings per share—Weighted common shares outstanding | 139,618 | 138,412 | 136,223 | ||||||
The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the years ended December 31, 2013, 2012 and 2011: | |||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||
Shares excluded from calculations of diluted EPS | 1,248 | 1,431 | 1,471 | ||||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Information | ' | |||||||||||
SEGMENT INFORMATION | ||||||||||||
The Company’s financial reporting segments are: Contamination Control Solutions (CCS), Microenvironments (ME), and Specialty Materials (SMD). | ||||||||||||
• | CCS: provides a wide range of products and subsystems that purify, monitor and deliver critical liquids and gases used in the semiconductor manufacturing process. | |||||||||||
• | ME: provides products that protect wafers, reticles and electronic components at various stages of transport, processing and storage. | |||||||||||
• | SMD: provides specialized graphite components used in semiconductor equipment and offers low-temperature, plasma-enhanced chemical vapor deposition coatings of critical components of semiconductor manufacturing equipment used in various stages of the manufacturing process. | |||||||||||
Intersegment sales are not significant. Corporate assets consist primarily of cash and cash equivalents, short-term investments, assets held for sale, investments, deferred tax assets and deferred tax charges. | ||||||||||||
Segment profit is defined as net sales less direct segment operating expenses, excluding certain unallocated expenses, consisting mainly of general and administrative costs for the Company’s human resources, finance and information technology functions, as well as amortization of intangible assets and contingent consideration fair value adjustment before interest expense, income taxes and equity in earnings of affiliates. | ||||||||||||
Summarized financial information for the Company’s reportable segments is shown in the following table: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Net sales: | ||||||||||||
CCS | $ | 447,410 | $ | 461,838 | $ | 483,958 | ||||||
ME | 178,201 | 182,375 | 182,150 | |||||||||
SMD | 67,848 | 71,690 | 83,151 | |||||||||
Total net sales | $ | 693,459 | $ | 715,903 | $ | 749,259 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Segment profit: | ||||||||||||
CCS | $ | 106,120 | $ | 116,356 | $ | 140,313 | ||||||
ME | 35,737 | 37,223 | 29,959 | |||||||||
SMD | 7,087 | 12,230 | 18,255 | |||||||||
Total segment profit | $ | 148,944 | $ | 165,809 | $ | 188,527 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Total assets: | ||||||||||||
CCS | $ | 276,386 | $ | 234,766 | $ | 213,477 | ||||||
ME | 86,810 | 86,755 | 89,642 | |||||||||
SMD | 89,343 | 90,797 | 94,191 | |||||||||
Corporate | 422,755 | 399,226 | 327,353 | |||||||||
Total assets | $ | 875,294 | $ | 811,544 | $ | 724,663 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Depreciation and amortization: | ||||||||||||
CCS | $ | 17,010 | $ | 15,725 | $ | 15,682 | ||||||
ME | 9,302 | 8,765 | 7,859 | |||||||||
SMD | 10,322 | 10,626 | 10,694 | |||||||||
Corporate | 2,181 | 2,491 | 2,829 | |||||||||
Total depreciation and amortization | $ | 38,815 | $ | 37,607 | $ | 37,064 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Capital expenditures: | ||||||||||||
CCS | $ | 43,635 | $ | 29,650 | $ | 16,170 | ||||||
ME | 7,633 | 12,632 | 8,618 | |||||||||
SMD | 5,467 | 3,980 | 3,039 | |||||||||
Corporate | 3,625 | 3,667 | 2,440 | |||||||||
Total capital expenditures | $ | 60,360 | $ | 49,929 | $ | 30,267 | ||||||
The following table reconciles total segment profit to operating income: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Total segment profit | $ | 148,944 | $ | 165,809 | $ | 188,527 | ||||||
Less: | ||||||||||||
Amortization of intangibles | 9,347 | 9,594 | 10,225 | |||||||||
Contingent consideration fair value adjustment | (1,813 | ) | — | — | ||||||||
Unallocated general and administrative expenses | 47,173 | 56,771 | 51,424 | |||||||||
Operating income | 94,237 | 99,444 | 126,878 | |||||||||
Other income, net | (1,958 | ) | (259 | ) | (1,086 | ) | ||||||
Income before income taxes and equity in net income of affiliates | $ | 96,195 | $ | 99,703 | $ | 127,964 | ||||||
The following table presents amortization of intangibles for each of the Company’s segments for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Amortization of intangibles: | ||||||||||||
CCS | $ | 4,099 | $ | 4,230 | $ | 4,588 | ||||||
ME | 36 | 139 | 406 | |||||||||
SMD | 5,212 | 5,225 | 5,231 | |||||||||
$ | 9,347 | $ | 9,594 | $ | 10,225 | |||||||
The following table summarizes total net sales, based upon the country to which sales to external customers were made for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Net sales: | ||||||||||||
United States | $ | 201,380 | $ | 218,903 | $ | 213,671 | ||||||
Japan | 101,529 | 131,521 | 140,657 | |||||||||
Germany | 23,240 | 24,437 | 33,020 | |||||||||
Taiwan | 128,194 | 126,732 | 116,007 | |||||||||
Singapore | 30,942 | 25,607 | 28,337 | |||||||||
South Korea | 76,353 | 70,763 | 76,888 | |||||||||
China | 36,299 | 31,499 | 40,080 | |||||||||
Other | 95,522 | 86,441 | 100,599 | |||||||||
$ | 693,459 | $ | 715,903 | $ | 749,259 | |||||||
The following table summarizes property, plant and equipment, net, attributed to significant countries for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Property, plant and equipment: | ||||||||||||
United States | $ | 123,846 | $ | 86,476 | $ | 59,444 | ||||||
Japan | 24,007 | 27,024 | 29,295 | |||||||||
Malaysia | 23,801 | 28,398 | 30,328 | |||||||||
Other | 14,786 | 15,123 | 11,487 | |||||||||
$ | 186,440 | $ | 157,021 | $ | 130,554 | |||||||
In the years ended December 31, 2013, 2012, and 2011, no single customer accounted for ten percent or more of net sales. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingent Liabilities | ' |
COMMITMENTS AND CONTINGENT LIABILITIES | |
The Company is subject to various claims, legal actions, and complaints arising in the ordinary course of business. The Company believes the final outcome of these matters will not have a material adverse effect on its consolidated financial statements. The Company expenses legal costs as incurred. |
Subsequent_Event_Subsequent_Ev
Subsequent Event Subsequent Event | 12 Months Ended | |
Dec. 31, 2013 | ||
Subsequent Event [Line Items] | ' | |
Subsequent Events [Text Block] | ' | |
SUBSEQUENT EVENT | ||
On February 4, 2014, the Company announced that it will acquire ATMI, Inc., a Delaware corporation (ATMI), for approximately $1.2 billion in cash pursuant to an Agreement and Plan of Merger (the Merger Agreement) with ATMI and Atomic Merger Corporation, a Delaware corporation and wholly-owned subsidiary of Entegris (Merger Sub). The Merger Agreement provides that, upon the terms and subject to the conditions thereof, Merger Sub will be merged with and into ATMI (the Merger). As a result of the Merger, ATMI will become a wholly-owned subsidiary of the Company. | ||
ATMI is a leading supplier of high-performance materials, materials packaging and materials delivery systems used worldwide in the manufacture of microelectronics devices. Its products consist of “front-end” semiconductor performance materials, sub-atmospheric pressure gas delivery systems for safe handling and delivery of toxic and hazardous gases to semiconductor process equipment, and high-purity materials packaging and dispensing systems that allow for the reliable introduction of low volatility liquids and solids to microelectronics processes. Excluding ATMI's Life Sciences business, which ATMI agreed to sell to a third party on December 22, 2013, ATMI’s sales for the year ended December 31, 2013 were approximately $361 million. | ||
Pursuant to the terms and subject to the conditions of the Merger Agreement, each share of ATMI’s common stock (ATMI Common Stock) issued and outstanding immediately will be cancelled and extinguished and converted into the right to receive $34 in cash, without interest or dividends, other than shares of ATMI Common Stock: (i) owned directly by Entegris, or any of its subsidiaries; (ii) owned by ATMI as treasury stock, or by any of its subsidiaries, (iii) subject to time and/or performance vesting conditions; or (iv) as to which dissenters’ rights have been properly exercised. | ||
The consummation of the Merger is subject to customary regulatory approvals and closing conditions, which includes receiving the approval of holders of a majority of the outstanding ATMI common stock entitled to vote on the Merger and the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended and under certain foreign regulatory review processes. | ||
The transaction is expected to close in the second quarter of 2014. | ||
The Merger Agreement also includes customary termination provisions for both ATMI and Entegris and provides that, in connection with the termination of the Merger Agreement by Entegris, under specified circumstances ATMI will be required to pay Entegris a termination fee of $30 million. In the event that the conditions to consummating the Merger have been met on the date that the closing of the Merger is required to occur but Entegris and Merger Sub fail to consummate the Merger, ATMI, if it is not then in material breach of the Merger Agreement, may terminate the Merger Agreement and Entegris shall be required to pay ATMI a termination fee of $100 million. | ||
In connection with the Merger, on February 4, 2014 the Company entered into a commitment letter (the Debt Commitment Letter) with Goldman Sachs Bank USA (Goldman Sachs). Pursuant to the Debt Commitment Letter, Goldman Sachs has agreed to provide the financing (the Debt Commitment Financing) necessary to consummate the Merger. | ||
The Debt Commitment Financing will be subject to customary conditions and is anticipated to be comprised of the following elements: | ||
• | a senior secured term loan facility, with Entegris as borrower, in an aggregate principal amount of $460 million. | |
• | senior unsecured notes of Entegris in an aggregate principal amount of $360 million. These notes are intended to be issued in an underwritten offering, but will be issued as a bridge loan from Goldman Sachs if for any reason the underwritten offering cannot be completed by the Merger closing. | |
• | a senior secured asset-based revolving credit facility in an aggregate principal amount of $85 million, only a portion of which may be advanced on the Merger closing. | |
Neither the senior secured term loan facility nor the senior unsecured notes carry any financial covenants; the senior secured asset-based revolving credit facility carries a financial covenant only in the event that the amount outstanding under the facility exceeds 90% of the maximum principal amount of the credit facility. |
Quarterly_InformationUnaudited
Quarterly Information-Unaudited | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Information-Unaudited | ' | |||||||||||||||
QUARTERLY INFORMATION-UNAUDITED | ||||||||||||||||
Fiscal quarter ended | ||||||||||||||||
(In thousands, except per share data) | March 30, 2013 | June 29, 2013 | September 28, 2013 | December 31, 2013 | ||||||||||||
Net sales | $ | 165,070 | $ | 177,544 | $ | 164,585 | $ | 186,260 | ||||||||
Gross profit | 67,128 | 77,570 | 70,132 | 79,384 | ||||||||||||
Net income | 16,397 | 19,781 | 17,807 | 20,541 | ||||||||||||
Basic income per share | 0.12 | 0.14 | 0.13 | 0.15 | ||||||||||||
Diluted income per share | 0.12 | 0.14 | 0.13 | 0.15 | ||||||||||||
Fiscal quarter ended | ||||||||||||||||
(In thousands, except per share data) | March 31, 2012 | June 30, 2012 | September 29, 2012 | December 31, 2012 | ||||||||||||
Net sales | $ | 175,403 | $ | 188,233 | $ | 184,449 | $ | 167,818 | ||||||||
Gross profit | 76,244 | 82,746 | 81,932 | 66,461 | ||||||||||||
Net income | 17,859 | 21,673 | 18,037 | 11,256 | ||||||||||||
Basic income per share | 0.13 | 0.16 | 0.13 | 0.08 | ||||||||||||
Diluted income per share | 0.13 | 0.16 | 0.13 | 0.08 | ||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Nature of Operations | ' |
Nature of Operations Entegris, Inc. (Entegris or the Company) is a leading provider of products and services that purify, protect and transport the critical materials used in key technology-driven industries, primarily the semiconductor and related industries. | |
Principles of Consolidation | ' |
Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates and Basis of Presentation The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, Entegris evaluates its estimates, including those related to receivables, inventories, property, plant and equipment, intangible assets, accrued expenses, income taxes and share-based compensation, among others. Actual results could differ from those estimates. | |
In the fourth quarter and year ended December 31, 2013, the Company recorded the correction of an error resulting from the company’s Japan manufacturing subsidiary inventory being overvalued due to applying an incorrect exchange rate in calculating the inventory value. The error originated in the fourth quarter of 2012 and the first three quarters of 2013. The impact of correcting the error in the fourth quarter 2013 increased cost of goods sold by $2.2 million with a corresponding decrease to inventory. Neither the origination nor the correction of the error was material to the Company’s consolidated financial statements. | |
Concentrations of Suppliers | ' |
Concentrations of Suppliers Certain materials included in the Company’s products are obtained from a single source or a limited group of suppliers. Although the Company seeks to reduce dependence on those sole and limited source suppliers, the partial or complete loss of these sources could have at least a temporary adverse effect on the Company’s results of operations. Furthermore, a significant increase in the price of one or more of these components could adversely affect the Company’s results of operations. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid debt securities with original maturities of three months or less, which are valued at cost which approximates fair value. | |
Allowance For Doubtful Accounts | ' |
Allowance for Doubtful Accounts An allowance for uncollectible trade receivables is estimated based on a combination of write-off history, aging analysis and any specific, known troubled accounts. The Company maintains an allowance for doubtful accounts that management believes is adequate to cover expected losses on trade receivables. | |
Inventories | ' |
Inventories Inventories are stated at the lower of cost or market. Cost is determined by the first-in, first-out (FIFO) method. | |
Property, Plant, And Equipment | ' |
Property, Plant, and Equipment Property, plant and equipment are carried at cost and are depreciated on the straight-line method over the estimated useful lives of the assets. When assets are retired or disposed of, the cost and related accumulated depreciation are removed from the accounts, and gains or losses are recognized in the same period. Maintenance and repairs are expensed as incurred; significant additions and improvements are capitalized. Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of asset(s) may not be recoverable based on estimated future undiscounted cash flows. The amount of impairment, if any, is measured as the difference between the net book value and the estimated fair value of the asset(s). | |
Investments | ' |
Investments The Company’s nonmarketable investments are accounted for under either the cost or equity method of accounting, as appropriate. All nonmarketable investments are periodically reviewed to determine whether declines, if any, in fair value below cost basis are other-than-temporary. If the decline in fair value is determined to be other-than-temporary, an impairment loss is recorded and the investment written down to a new cost basis. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable and accounts payable approximates fair value due to the short maturity of those instruments. | |
Intangible Assets | ' |
Intangible Assets Amortizable intangible assets include, among other items, patents, unpatented and other developed technology and customer-based intangibles, and are amortized using the straight-line method over their respective estimated useful lives of 3 to 15 years. The Company reviews intangible assets, along with other long-lived assets, for impairment if changes in circumstances or the occurrence of events suggest the remaining value may not be recoverable. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments The Company records derivatives as assets or liabilities on the balance sheet and measures such instruments at fair value. Changes in fair value of derivatives are recorded each period in the Company’s consolidated statements of operations. | |
The Company periodically enters into forward foreign currency contracts to reduce exposures relating to rate changes in certain foreign currencies. Certain exposures to credit losses related to counterparty nonperformance exist. However, the Company does not anticipate nonperformance by the counterparties since they are large, well-established financial institutions. None of these derivatives is accounted for as a hedge transaction. Accordingly, changes in the fair value of forward foreign currency contracts are recorded as other income, net, in the Company’s consolidated statements of operations. The fair values of the Company’s derivative financial instruments are based on prices quoted by financial institutions for these instruments. | |
Foreign Currency Translation | ' |
Foreign Currency Translation Assets and liabilities of foreign subsidiaries are generally translated from foreign currencies into U.S. dollars at period-end exchange rates, and the resulting gains and losses arising from translation of net assets located outside the U.S. are recorded as a cumulative translation adjustment, a component of accumulated other comprehensive income in the consolidated balance sheets. Income statement amounts are translated at the weighted average exchange rates for the year. Translation adjustments are not adjusted for income taxes, as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. Gains and losses resulting from foreign currency transactions are included in other income, net, in the Company's consolidated statements of operations. | |
Revenue Recognition | ' |
Revenue Recognition Revenue and the related cost of sales are generally recognized upon shipment of the products. Revenue for product sales is recognized upon delivery, when persuasive evidence of an arrangement exists, when title and risk of loss have been transferred to the customer, collectability is reasonably assured, and pricing is fixed or determinable. Shipping and handling fees related to sales transactions are billed to customers and are recorded as sales revenue. | |
The Company sells its products throughout the world primarily to companies in the microelectronics industry. The Company performs continuing credit evaluations of its customers and generally does not require collateral. Letters of credit may be required from its customers in certain circumstances. The Company provides for estimated returns when the revenue is recorded based on historical and current trends in both sales and product returns. | |
The Company collects various sales and value-added taxes on certain product and service sales that are accounted for on a net basis. | |
Shipping and Handling Costs | ' |
Shipping and handling costs Shipping and handling costs incurred are recorded in cost of sales in the Company's consolidated statements of operations. | |
Engineering,Research and Development Expenses | ' |
Engineering, research and development expenses Engineering, research and development costs are expensed as incurred. | |
Share-Based Compensation | ' |
Share-based Compensation The Company measures the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award at the date of grant. The cost is recognized over the period during which an employee is required to provide services in exchange for the award. Compensation expense is based on the grant date fair value. Because share-based compensation expense recognized in the Company's consolidated statements of operations is based on awards ultimately expected to vest, it has been reduced for expected forfeitures which are estimated at the time of grant with such estimates revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |
Income Taxes | ' |
Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date. | |
The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. A valuation allowance is recorded to reduce deferred tax assets when it is more likely than not that the Company would not be able to realize all or part of its deferred tax assets. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. | |
The Company’s policy for recording interest and penalties associated with audits and unrecognized tax benefits is to record such items as a component of income before taxes. Penalties and interest to be paid or received are recorded in other income, net, in the statement of operations. | |
Comprehensive Income | ' |
Comprehensive Income Comprehensive income represents the change in equity resulting from items other than shareholder investments and distributions. The Company’s foreign currency translation adjustments and minimum pension liability adjustments are included in accumulated other comprehensive income. Comprehensive income and the components of accumulated other comprehensive income are presented in the accompanying consolidated statements of equity and comprehensive income. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In December 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-11, Amendments to Disclosures about Offsetting Assets and Liabilities. The objective of ASU No. 2011-11 is to provide enhanced disclosures that will enable users of its financial statements to evaluate the effect or potential effect of netting arrangements on an entity’s financial position. In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies what instruments and transactions are subject to the offsetting disclosure requirements established by ASU No. 2011-11. Derivative instruments accounted for in accordance with Accounting Standards Codification (ASC) 815, are subject to ASU No. 2011-11 disclosure requirements. These amendments are disclosure related and do not have an impact on the Company’s financial position, results of operations, comprehensive income or cash flows. ASU Nos. 2011-11 and 2013-01 are effective for reporting periods beginning after December 15, 2012. Accordingly, the Company adopted ASU Nos. 2011-11 and 2013-01 in the first quarter of fiscal 2013. The disclosures associated with ASU Nos. 2011-11 and 2013-01 are included in note 14 to the Company’s consolidated financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income that amended ASU No. 2011-12 and ASU No. 2011-05. ASU No. 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either in the consolidated statements of operations or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. These amendments are disclosure related and do not have an impact on the Company’s financial position, results of operations, comprehensive income or cash flows. ASU 2013-02 is effective for reporting periods beginning after December 15, 2012. Accordingly, the Company adopted ASU 2013-02 in the first quarter of fiscal 2013. The disclosures associated with ASU No. 2013-02 are included in the Company’s consolidated statements of equity. |
Acquisitions_Acquisitions_Tabl
Acquisitions Acquisitions (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Acquisitions [Abstract] | ' | ||
Schedule of Allocation of Purchase Price [Table Text Block] | ' | ||
The following table summarizes the allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of acquisition: | |||
(In thousands): | Amount | ||
Accounts receivable, inventory and other assets | $944 | ||
Identifiable intangible assets | 5,634 | ||
Current liabilities | (216 | ) | |
Net assets acquired | 6,362 | ||
Goodwill | 10,090 | ||
Total purchase price | $16,452 | ||
Schedule of Acquisition Purchase Price [Table Text Block] | ' | ||
The purchase price of Jetalon consists of the following: | |||
(In thousands): | Amount | ||
Cash paid at closing | $13,358 | ||
Contingent consideration obligation | 3,094 | ||
Total purchase price | $16,452 | ||
Short_Term_Investments_Tables
Short - Term Investments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Short Term Investment | ' | |||||||||||||||
Available-for-sale investments as of December 31, 2012 were as follows: | ||||||||||||||||
(In thousands) | Cost | Gross | Gross | Fair | ||||||||||||
basis | unrealized | unrealized | value | |||||||||||||
gains | losses | |||||||||||||||
Commercial paper | $ | 19,999 | $ | — | $ | (4 | ) | $ | 19,995 | |||||||
Total available-for-sale investments | $ | 19,999 | $ | — | $ | (4 | ) | $ | 19,995 | |||||||
Investments With Continuous Unrealized Losses And Related Fair Value | ' | |||||||||||||||
Investments with continuous unrealized losses for less than 12 months and their related fair values as of December 31, 2012 were as follows: | ||||||||||||||||
Less than 12 months | ||||||||||||||||
(In thousands) | Fair | Gross | ||||||||||||||
value | unrealized | |||||||||||||||
losses | ||||||||||||||||
Commercial paper | $ | 19,995 | $ | (4 | ) | |||||||||||
Total | $ | 19,995 | $ | (4 | ) | |||||||||||
Amortized Cost And Fair Value Of Fixed Maturity Available For Sale Securities By Investment Grade | ' | |||||||||||||||
The amortized cost and fair value of available-for-sale investments as of December 31, 2012, by contractual maturity, were as follows: | ||||||||||||||||
(In thousands) | Cost | Fair | ||||||||||||||
basis | value | |||||||||||||||
Due in 1 year or less | $ | 19,999 | $ | 19,995 | ||||||||||||
Total | $ | 19,999 | $ | 19,995 | ||||||||||||
Trade_Accounts_and_Notes_Recei1
Trade Accounts and Notes Receivable (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Trade Accounts and Notes Receivable | ' | |||||||
Trade accounts and notes receivable from customers at December 31, 2013 and 2012 consist of the following: | ||||||||
(In thousands) | 2013 | 2012 | ||||||
Accounts receivable | $ | 94,613 | $ | 86,717 | ||||
Notes receivable | 9,039 | 9,613 | ||||||
103,652 | 96,330 | |||||||
Less allowance for doubtful accounts | 1,779 | 2,314 | ||||||
$ | 101,873 | $ | 94,016 | |||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventories | ' | |||||||
Inventories at December 31, 2013 and 2012 consist of the following: | ||||||||
(In thousands) | 2013 | 2012 | ||||||
Raw materials | $ | 26,012 | $ | 27,720 | ||||
Work-in-process | 10,512 | 10,242 | ||||||
Finished goods (a) | 56,998 | 60,667 | ||||||
Supplies | 552 | 515 | ||||||
$ | 94,074 | $ | 99,144 | |||||
(a) | Includes consignment inventories held by customers for $5.1 million and $5.2 million at December 31, 2013 and 2012, |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Property, Plant and Equipment | ' | |||||||||||
Property, plant, and equipment at December 31, 2013 and 2012 consist of the following: | ||||||||||||
(In thousands) | 2013 | 2012 | Estimated | |||||||||
useful lives in | ||||||||||||
years | ||||||||||||
Land | $ | 12,866 | $ | 11,065 | ||||||||
Buildings and improvements | 109,105 | 85,239 | May-35 | |||||||||
Manufacturing equipment | 168,197 | 151,559 | 10-May | |||||||||
Molds | 76,909 | 79,959 | 5-Mar | |||||||||
Office furniture and equipment | 70,158 | 65,950 | 8-Mar | |||||||||
Construction in progress | 33,021 | 26,551 | ||||||||||
470,256 | 420,323 | |||||||||||
Less accumulated depreciation | 283,816 | 263,302 | ||||||||||
$ | 186,440 | $ | 157,021 | |||||||||
Depreciation Expense | ' | |||||||||||
The table below sets forth the depreciation expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Depreciation expense | $ | 29,468 | $ | 28,013 | $ | 26,839 | ||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | |||||||||||||
Intangible assets at December 31, 2013 and 2012 consist of the following: | ||||||||||||||
2013 | ||||||||||||||
(In thousands) | Gross carrying | Accumulated | Net carrying | Weighted | ||||||||||
Amount | amortization | value | average life in | |||||||||||
years | ||||||||||||||
Patents | $ | 1,369 | $ | 649 | $ | 720 | 9.8 | |||||||
Developed technology | 78,686 | 62,257 | 16,429 | 7.4 | ||||||||||
Trademarks and trade names | 13,092 | 7,306 | 5,786 | 12 | ||||||||||
Customer relationships | 57,617 | 39,146 | 18,471 | 11 | ||||||||||
Other | 2,213 | 110 | 2,103 | 13.3 | ||||||||||
$ | 152,977 | $ | 109,468 | $ | 43,509 | 9.3 | ||||||||
2012 | ||||||||||||||
(In thousands) | Gross carrying | Accumulated | Net carrying | Weighted | ||||||||||
amount | amortization | value | average life in | |||||||||||
years | ||||||||||||||
Patents | $ | 19,104 | $ | 18,226 | $ | 878 | 9.1 | |||||||
Developed technology | 76,414 | 59,147 | 17,267 | 7.5 | ||||||||||
Trademarks and trade names | 12,677 | 6,633 | 6,044 | 12.1 | ||||||||||
Customer relationships | 56,700 | 33,761 | 22,939 | 11.1 | ||||||||||
Other | 1,510 | 1,431 | 79 | 9.4 | ||||||||||
$ | 166,405 | $ | 119,198 | $ | 47,207 | 9.3 | ||||||||
Estimated Future Amortization Expense | ' | |||||||||||||
The amortization expense for each of the five succeeding years and thereafter relating to intangible assets currently recorded in the Company's consolidated balance sheets is estimated to be the following at December 31, 2013: | ||||||||||||||
Fiscal year ending December 31 | (In thousands) | |||||||||||||
2014 | $ | 8,441 | ||||||||||||
2015 | 6,394 | |||||||||||||
2016 | 6,394 | |||||||||||||
2017 | 6,394 | |||||||||||||
2018 | 5,547 | |||||||||||||
Thereafter | 10,339 | |||||||||||||
$ | 43,509 | |||||||||||||
Schedule Of Amortization Of Intangibles Table [Text Block] | ' | |||||||||||||
The table below sets forth the amortization expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Amortization expense | $ | 9,347 | $ | 9,594 | $ | 10,225 | ||||||||
The following table presents amortization of intangibles for each of the Company’s segments for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Amortization of intangibles: | ||||||||||||||
CCS | $ | 4,099 | $ | 4,230 | $ | 4,588 | ||||||||
ME | 36 | 139 | 406 | |||||||||||
SMD | 5,212 | 5,225 | 5,231 | |||||||||||
$ | 9,347 | $ | 9,594 | $ | 10,225 | |||||||||
Lease_Commitments_Tables
Lease Commitments (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Future Minimum Lease Payments | ' | |||
As of December 31, 2013, the Company was obligated under noncancellable operating lease agreements for certain sales offices and manufacturing facilities, manufacturing equipment, vehicles, information technology equipment and warehouse space. Future minimum lease payments for noncancellable operating leases with initial or remaining terms in excess of one year are as follows: | ||||
Fiscal year ending December 31 | (In thousands) | |||
2014 | $ | 7,014 | ||
2015 | 6,264 | |||
2016 | 4,051 | |||
2017 | 3,430 | |||
2018 | 3,211 | |||
Thereafter | 669 | |||
Total minimum lease payments | $ | 24,639 | ||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income (Loss) Before Income Taxes | ' | |||||||||||
Income before income taxes for the years ended December 31, 2013, 2012 and 2011 was derived from the following sources: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Domestic | $ | 29,066 | $ | 49,056 | $ | 68,839 | ||||||
Foreign | 67,129 | 50,647 | 59,125 | |||||||||
Income before income taxes | $ | 96,195 | $ | 99,703 | $ | 127,964 | ||||||
Components of Income Tax (Benefit) Expense | ' | |||||||||||
Income tax (benefit) expense for the years ended December 31, 2013, 2012, and 2011 is summarized as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Current: | ||||||||||||
Federal | $ | 854 | $ | 5,797 | $ | 2,382 | ||||||
State | 772 | 654 | 1,335 | |||||||||
Foreign | 12,937 | 11,183 | 17,784 | |||||||||
14,563 | 17,634 | 21,501 | ||||||||||
Deferred (net of valuation allowance): | ||||||||||||
Federal | 6,003 | 11,165 | (19,853 | ) | ||||||||
State | (650 | ) | 168 | (647 | ) | |||||||
Foreign | 1,753 | 1,914 | 3,216 | |||||||||
7,106 | 13,247 | (17,284 | ) | |||||||||
Income tax expense | $ | 21,669 | $ | 30,881 | $ | 4,217 | ||||||
Reconciliation of Income Tax Expense With Expected Amounts Based Upon Statutory Federal Tax Rates | ' | |||||||||||
Income tax expense differs from the expected amounts based upon the statutory federal tax rates for the years ended December 31, 2013, 2012, and 2011 as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Expected federal income tax at statutory rate | $ | 33,668 | $ | 34,896 | $ | 44,788 | ||||||
State income taxes before valuation allowance, net of federal tax effect | (357 | ) | 440 | 1,013 | ||||||||
Income (losses) without tax expense (benefit) | 22 | (40 | ) | (1,357 | ) | |||||||
Effect of foreign source income | (10,583 | ) | (5,314 | ) | 1,959 | |||||||
Valuation allowance | 445 | 358 | (41,038 | ) | ||||||||
U.S. federal research credit | (3,233 | ) | (790 | ) | (1,412 | ) | ||||||
Other items, net | 1,707 | 1,331 | 264 | |||||||||
Income tax expense | $ | 21,669 | $ | 30,881 | $ | 4,217 | ||||||
Deferred Tax Assets And Deferred Tax Liabilities | ' | |||||||||||
The significant components of the Company’s deferred tax assets and deferred tax liabilities at December 31, 2013 and 2012 are as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||
Deferred tax assets attributable to: | ||||||||||||
Accounts receivable | $ | 269 | $ | 389 | ||||||||
Inventory | 2,853 | 2,643 | ||||||||||
Accruals not currently deductible for tax purposes | 8,844 | 10,054 | ||||||||||
Net operating loss and credit carryforwards | 3,972 | 2,669 | ||||||||||
Capital loss carryforward | 2,779 | 3,105 | ||||||||||
Depreciation | 1,070 | 2,870 | ||||||||||
Equity compensation | 3,157 | 3,155 | ||||||||||
Asset impairments | 732 | 1,021 | ||||||||||
Purchased intangible assets | 1,439 | 1,396 | ||||||||||
Other, net | 2,976 | 3,604 | ||||||||||
Gross deferred tax assets | 28,091 | 30,906 | ||||||||||
Valuation allowance | (5,435 | ) | (4,990 | ) | ||||||||
Total deferred tax assets | 22,656 | 25,916 | ||||||||||
Deferred tax liabilities attributable to: | ||||||||||||
Depreciation | (3,245 | ) | (1,252 | ) | ||||||||
Purchased intangible assets | (601 | ) | (692 | ) | ||||||||
Total deferred tax liabilities | (3,846 | ) | (1,944 | ) | ||||||||
Net deferred tax assets | $ | 18,810 | $ | 23,972 | ||||||||
Reconciliations of Total Amount of Gross Unrecognized Tax Benefits | ' | |||||||||||
Reconciliations of the beginning and ending balances of the total amounts of gross unrecognized tax benefits for the years ended December 31, 2013 and 2012 are as follows: | ||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||
Gross unrecognized tax benefits at beginning of year | $ | 5,419 | $ | 2,467 | ||||||||
Increases in tax positions for prior years | 28 | — | ||||||||||
Decreases in tax positions for prior years | — | (19 | ) | |||||||||
Increases in tax positions for current year | 1,879 | 4,608 | ||||||||||
Settlements | (2,298 | ) | (1,044 | ) | ||||||||
Lapse in statute of limitations | (751 | ) | (593 | ) | ||||||||
Gross unrecognized tax benefits at end of year | $ | 4,277 | $ | 5,419 | ||||||||
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Summary of Option Activity | ' | ||||||||||||||||||||
Option activity for the 2010 Stock Plan and predecessor plans for the years ended December 31, 2013, 2012 and 2011 is summarized as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(Shares in thousands) | Number of | Weighted | Number of | Weighted | Number of | Weighted | |||||||||||||||
shares | average | shares | average | shares | average | ||||||||||||||||
exercise | exercise | exercise | |||||||||||||||||||
price | price | price | |||||||||||||||||||
Options outstanding, beginning of year | 2,565 | $ | 8.2 | 3,561 | $ | 6.53 | 5,001 | $ | 6.25 | ||||||||||||
Granted | 553 | 9.88 | 470 | 9.27 | 511 | 8.75 | |||||||||||||||
Exercised | (786 | ) | 7.54 | (1,293 | ) | 3.76 | (1,698 | ) | 5.95 | ||||||||||||
Expired or Forfeited | (371 | ) | 12.1 | (173 | ) | 9.83 | (253 | ) | 9.41 | ||||||||||||
Options outstanding, end of year | 1,961 | $ | 8.2 | 2,565 | $ | 8.2 | 3,561 | $ | 6.53 | ||||||||||||
Options exercisable, end of year | 1,001 | $ | 6.92 | 1,828 | $ | 8.18 | 2,078 | $ | 7.53 | ||||||||||||
Summary of Options Outstanding | ' | ||||||||||||||||||||
Options outstanding for the Company’s stock plans at December 31, 2013 are summarized as follows: | |||||||||||||||||||||
(Shares in thousands) | Options outstanding | Options exercisable | |||||||||||||||||||
Range of exercise prices | Number | Weighted | Weighted- | Number | Weighted | ||||||||||||||||
outstanding | average | average | exercisable | average | |||||||||||||||||
remaining life | exercise | exercise | |||||||||||||||||||
in years | price | ||||||||||||||||||||
price | |||||||||||||||||||||
$1.13 to $8.37 | 684 | 1.9 years | $ | 5.67 | 684 | $ | 5.67 | ||||||||||||||
$8.47 to $9.27 | 642 | 4.6 years | 9 | 235 | 8.9 | ||||||||||||||||
$9.40 to $14.50 | 635 | 5.4 years | 10.11 | 82 | 11.65 | ||||||||||||||||
1,961 | 3.9 years | 8.2 | 1,001 | 6.92 | |||||||||||||||||
Cash Received From Exercise Of Stock Options and Employee Contribution to ESPP | ' | ||||||||||||||||||||
The table below sets forth the amount of cash received by the Company from the exercise of stock options and employee contributions to the ESPP during the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||
Exercise of stock options and employee contributions to the ESPP | $ | 7,685 | $ | 7,431 | $ | 11,690 | |||||||||||||||
Summary of Restricted Stock Activity | ' | ||||||||||||||||||||
Restricted stock awards are awards of common stock made under the 2010 Stock Plan that are subject to restrictions on transfer and to a risk of forfeiture if the awardee terminates employment with the Company prior to the lapse of the restrictions. The value of such stock is determined using the market price on the grant date. Compensation expense for restricted stock awards is generally recognized using the straight-line single-option method. A summary of the Company’s restricted stock activity for the years ended December 31, 2013, 2012 and 2011 is presented in the following table: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
(Shares in thousands) | Number | Weighted | Number | Weighted | Number | Weighted | |||||||||||||||
of | average | of | average | of | average | ||||||||||||||||
shares | grant date | shares | grant date | shares | grant date | ||||||||||||||||
fair value | fair value | fair value | |||||||||||||||||||
Unvested, beginning of year | 1,802 | $ | 7.02 | 2,298 | $ | 5.49 | 2,738 | $ | 4.43 | ||||||||||||
Granted | 717 | 9.85 | 744 | 9.21 | 795 | 8.65 | |||||||||||||||
Vested | (871 | ) | 5.67 | (1,132 | ) | 5.42 | (1,087 | ) | 5.22 | ||||||||||||
Forfeited | (78 | ) | 8.66 | (108 | ) | 6.22 | (148 | ) | 4.89 | ||||||||||||
Unvested, end of year | 1,570 | $ | 8.98 | 1,802 | $ | 7.02 | 2,298 | $ | 5.49 | ||||||||||||
Summary of Allocation of Share Based Compensation Expense | ' | ||||||||||||||||||||
The following table summarizes the allocation of share-based compensation expense related to employee stock options, restricted stock awards and grants under the employee stock purchase plan accounted for under ASC 718 for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||
Cost of sales | $ | 690 | $ | 575 | $ | 650 | |||||||||||||||
Engineering, research and development expenses | 502 | 500 | 566 | ||||||||||||||||||
Selling, general and administrative expenses | 6,736 | 8,806 | 6,303 | ||||||||||||||||||
Share-based compensation expense | 7,928 | 9,881 | 7,519 | ||||||||||||||||||
Tax benefit | 2,643 | 3,686 | 2,805 | ||||||||||||||||||
Share-based compensation expense, net of tax | $ | 5,285 | $ | 6,195 | $ | 4,714 | |||||||||||||||
Weighted Average Assumptions Used In Valuation And Resulting Weighted Average Fair Value Per Option Granted | ' | ||||||||||||||||||||
The fair value of each stock option grant was estimated at the date of grant using a Black-Scholes option pricing model. The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||
Employee stock options: | 2013 | 2012 | 2011 | ||||||||||||||||||
Volatility | 51.7 | % | 82.4 | % | 79.3 | % | |||||||||||||||
Risk-free interest rate | 0.7 | % | 0.6 | % | 1.8 | % | |||||||||||||||
Dividend yield | — | % | — | % | — | % | |||||||||||||||
Expected life (years) | 3.6 | 3.8 | 4 | ||||||||||||||||||
Weighted average fair value per option | $ | 3.8 | $ | 5.42 | $ | 5.14 | |||||||||||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Estimated Funded Status | ' | |||||||||||||
The tables below set forth the Company’s estimated funded status as of December 31, 2013 and 2012: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Change in benefit obligation: | ||||||||||||||
Benefit obligation at beginning of year | $ | 12,607 | $ | 16,364 | ||||||||||
Service cost | 98 | 89 | ||||||||||||
Interest cost | 122 | 163 | ||||||||||||
Actuarial gain | (158 | ) | 367 | |||||||||||
Benefits paid | (1,072 | ) | (3,329 | ) | ||||||||||
Foreign exchange impact | (1,742 | ) | (1,047 | ) | ||||||||||
Benefit obligation at end of year | 9,855 | 12,607 | ||||||||||||
Change in plan assets: | ||||||||||||||
Fair value of plan assets at beginning of year | 382 | 357 | ||||||||||||
Return on plan assets | 5 | 4 | ||||||||||||
Employer contributions | 9 | 8 | ||||||||||||
Foreign exchange impact | (12 | ) | 13 | |||||||||||
Fair value of plan assets at end of year | 384 | 382 | ||||||||||||
Funded status: | ||||||||||||||
Plan assets less than benefit obligation - Net amount recognized | $ | (9,471 | ) | $ | (12,225 | ) | ||||||||
Amounts Recognized in Consolidated Balance Sheet | ' | |||||||||||||
Amounts recognized in the consolidated balance sheets consist of: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Noncurrent liability | $ | (9,471 | ) | $ | (12,225 | ) | ||||||||
Accumulated other comprehensive loss, net of taxes | 857 | 1,059 | ||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Loss Net of Tax | ' | |||||||||||||
Amounts recognized in accumulated other comprehensive loss, net of tax consist of: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Net actuarial loss | $ | 811 | $ | 1,028 | ||||||||||
Prior service cost | 259 | 287 | ||||||||||||
Unrecognized transition obligation | (11 | ) | (12 | ) | ||||||||||
Gross amount recognized | 1,059 | 1,303 | ||||||||||||
Deferred income taxes | (202 | ) | (244 | ) | ||||||||||
Net amount recognized | $ | 857 | $ | 1,059 | ||||||||||
Pension Plans Accumulated Benefit Obligation in Excess of Plan Assets | ' | |||||||||||||
Information for pension plans with an accumulated benefit obligation in excess of plan assets: | ||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||
Projected benefit obligation | $ | 9,855 | $ | 12,607 | ||||||||||
Accumulated benefit obligation | 8,651 | 11,293 | ||||||||||||
Fair value of plan assets | 384 | 382 | ||||||||||||
Components of Net Periodic Benefit Cost | ' | |||||||||||||
The components of the net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||||
Pension benefits: | ||||||||||||||
Service cost | $ | 98 | $ | 89 | $ | 1,268 | ||||||||
Interest cost | 122 | 163 | 290 | |||||||||||
Expected return on plan assets | (7 | ) | (7 | ) | (65 | ) | ||||||||
Amortization of prior service cost | 19 | 19 | 126 | |||||||||||
Amortization of net transition obligation | (1 | ) | (1 | ) | (1 | ) | ||||||||
Amortization of plan loss | 219 | 20 | 49 | |||||||||||
Recognized actuarial net loss | 8 | 1 | 1 | |||||||||||
Acquisition | — | — | 16 | |||||||||||
Curtailments | — | — | (726 | ) | ||||||||||
Net periodic pension benefit cost | $ | 458 | $ | 284 | $ | 958 | ||||||||
Estimated Amount Amortized from Accumulated Other Comprehensive Income Into Net Periodic Benefit Cost | ' | |||||||||||||
The estimated amount that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2014 is as follows: | ||||||||||||||
(In thousands) | ||||||||||||||
Transition obligation | $ | (1 | ) | |||||||||||
Prior service cost | 19 | |||||||||||||
Net actuarial loss | 29 | |||||||||||||
$ | 47 | |||||||||||||
Assumptions Used in Determining Benefit Obligation and Net Periodic Benefit Cost for Pension Plans | ' | |||||||||||||
Assumptions used in determining the benefit obligation and net periodic benefit cost for the Company’s pension plans for the years ended December 31, 2013, 2012 and 2011 are presented in the following table as weighted-averages: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Benefit obligations: | ||||||||||||||
Discount rate | 1.23 | % | 1.19 | % | 1.4 | % | ||||||||
Rate of compensation increase | 4.1 | % | 4.18 | % | 4.22 | % | ||||||||
Net periodic benefit cost: | ||||||||||||||
Discount rate | 1.41 | % | 1.8 | % | 1.38 | % | ||||||||
Rate of compensation increase | 2.01 | % | 2.84 | % | 5.14 | % | ||||||||
Expected return on plan assets | 0.7 | % | 1.14 | % | 1.52 | % | ||||||||
Fair Value Measurements of Pension Plan Assets | ' | |||||||||||||
The fair value measurements of the Company’s pension plan assets at December 31, 2013, by asset category are as follows: | ||||||||||||||
(In thousands) | Quoted prices | Significant | Significant | |||||||||||
in active | observable | unobservable | ||||||||||||
markets for | inputs | inputs | ||||||||||||
identical | ||||||||||||||
assets | ||||||||||||||
Asset category | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Taiwan plan assets (a) | $ | 384 | $ | 384 | — | — | ||||||||
$ | 384 | $ | 384 | — | — | |||||||||
(a) | This category includes investments in the government of Taiwan’s pension fund. The government of Taiwan is responsible for the strategy and allocation of the investment contributions. | |||||||||||||
The fair value measurements of the Company’s pension plan assets at December 31, 2012, by asset category are as follows: | ||||||||||||||
(In thousands) | Quoted prices | Significant | Significant | |||||||||||
in active | observable | unobservable | ||||||||||||
markets for | inputs | inputs | ||||||||||||
identical | ||||||||||||||
assets | ||||||||||||||
Asset category | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Taiwan plan assets (a) | $ | 382 | $ | 382 | — | — | ||||||||
$ | 382 | $ | 382 | — | — | |||||||||
(a) | This category includes investments in the government of Taiwan’s pension fund. The government of Taiwan is responsible for the strategy and allocation of the investment contributions. | |||||||||||||
Expected Contribution And Benefit Payments | ' | |||||||||||||
The Company expects to make the following contributions and benefit payments: | ||||||||||||||
(In thousands) | Contributions | Payments | ||||||||||||
2014 | $ | 9 | $ | 242 | ||||||||||
2015 | — | 123 | ||||||||||||
2016 | — | 195 | ||||||||||||
2017 | — | 265 | ||||||||||||
2018 | — | 293 | ||||||||||||
Years 2019-2023 | — | 2,340 | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Financial Assets Measured At Fair Value On Recurring Basis | ' | |||||||||||||||||||||||||||||||
The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Cash equivalents | ||||||||||||||||||||||||||||||||
Commercial paper | $ | — | $ | 49,988 | $ | — | $ | 49,988 | $ | — | $ | 59,980 | $ | — | $ | 59,980 | ||||||||||||||||
Money market fund deposits | 118,090 | — | — | 118,090 | 73,026 | — | — | 73,026 | ||||||||||||||||||||||||
Short-term investments | ||||||||||||||||||||||||||||||||
Commercial paper | — | — | — | — | — | 19,995 | — | 19,995 | ||||||||||||||||||||||||
Total assets measured and recorded at fair value | $ | 118,090 | $ | 49,988 | $ | — | $ | 168,078 | $ | 73,026 | $ | 79,975 | $ | — | $ | 153,001 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | $ | — | $ | 514 | $ | — | $ | 514 | $ | — | $ | 4,603 | $ | — | $ | 4,603 | ||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | 1,282 | $ | 1,282 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Total liabilities measured and recorded at fair value | $ | — | $ | 514 | $ | 1,282 | $ | 1,796 | $ | — | $ | 4,603 | $ | — | $ | 4,603 | ||||||||||||||||
Schedule of Derivative Instruments [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table provides information about derivative positions held by the Company as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
(In thousands) | Gross | Gross | Net amount | Gross | Gross | Net amount of | ||||||||||||||||||||||||||
amounts of | amounts | of liabilities | amounts | amounts | liabilities in the | |||||||||||||||||||||||||||
recognized | offset in the | in the | of | offset in the | consolidated | |||||||||||||||||||||||||||
liabilities | consolidated | consolidated | recognized | consolidated | balance sheet | |||||||||||||||||||||||||||
balance | balance | liabilities | balance | |||||||||||||||||||||||||||||
sheet | sheet | sheet | ||||||||||||||||||||||||||||||
Foreign exchange forward contracts | $620 | $106 | $514 | $4,730 | $127 | $4,603 | ||||||||||||||||||||||||||
Derivative Instruments, Gain (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||||||||
Gains and losses associated with derivatives are recorded in other income, net, in the consolidated statements of operations. Losses associated with derivative instruments not designated as hedging instruments for the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||
Losses on foreign currency forward contracts | $5,726 | $5,759 |
Earning_Per_Share_EPS_Tables
Earning Per Share (EPS) (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Reconcilation of Share Amount Used in Computaion of Basic and Diluted Earnings Per Share | ' | ||||||||
Basic EPS is computed by dividing net income attributable to Entegris, Inc. by the weighted average number of shares of common stock outstanding during each period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share: | |||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||
Basic earnings per share—Weighted common shares outstanding | 138,950 | 137,306 | 134,685 | ||||||
Weighted common shares assumed upon exercise of options and vesting of restricted stock units | 668 | 1,106 | 1,538 | ||||||
Diluted earnings per share—Weighted common shares outstanding | 139,618 | 138,412 | 136,223 | ||||||
Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS | ' | ||||||||
excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the years ended December 31, 2013, 2012 and 2011: | |||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||
Shares excluded from calculations of diluted EPS | 1,248 | 1,431 | 1,471 | ||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Summary of Financial Information for Reportable Segments | ' | |||||||||||
Summarized financial information for the Company’s reportable segments is shown in the following table: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Net sales: | ||||||||||||
CCS | $ | 447,410 | $ | 461,838 | $ | 483,958 | ||||||
ME | 178,201 | 182,375 | 182,150 | |||||||||
SMD | 67,848 | 71,690 | 83,151 | |||||||||
Total net sales | $ | 693,459 | $ | 715,903 | $ | 749,259 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Segment profit: | ||||||||||||
CCS | $ | 106,120 | $ | 116,356 | $ | 140,313 | ||||||
ME | 35,737 | 37,223 | 29,959 | |||||||||
SMD | 7,087 | 12,230 | 18,255 | |||||||||
Total segment profit | $ | 148,944 | $ | 165,809 | $ | 188,527 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Total assets: | ||||||||||||
CCS | $ | 276,386 | $ | 234,766 | $ | 213,477 | ||||||
ME | 86,810 | 86,755 | 89,642 | |||||||||
SMD | 89,343 | 90,797 | 94,191 | |||||||||
Corporate | 422,755 | 399,226 | 327,353 | |||||||||
Total assets | $ | 875,294 | $ | 811,544 | $ | 724,663 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Depreciation and amortization: | ||||||||||||
CCS | $ | 17,010 | $ | 15,725 | $ | 15,682 | ||||||
ME | 9,302 | 8,765 | 7,859 | |||||||||
SMD | 10,322 | 10,626 | 10,694 | |||||||||
Corporate | 2,181 | 2,491 | 2,829 | |||||||||
Total depreciation and amortization | $ | 38,815 | $ | 37,607 | $ | 37,064 | ||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Capital expenditures: | ||||||||||||
CCS | $ | 43,635 | $ | 29,650 | $ | 16,170 | ||||||
ME | 7,633 | 12,632 | 8,618 | |||||||||
SMD | 5,467 | 3,980 | 3,039 | |||||||||
Corporate | 3,625 | 3,667 | 2,440 | |||||||||
Total capital expenditures | $ | 60,360 | $ | 49,929 | $ | 30,267 | ||||||
Reconciliation of Total Segment Profit to Operating Income | ' | |||||||||||
The following table reconciles total segment profit to operating income: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Total segment profit | $ | 148,944 | $ | 165,809 | $ | 188,527 | ||||||
Less: | ||||||||||||
Amortization of intangibles | 9,347 | 9,594 | 10,225 | |||||||||
Contingent consideration fair value adjustment | (1,813 | ) | — | — | ||||||||
Unallocated general and administrative expenses | 47,173 | 56,771 | 51,424 | |||||||||
Operating income | 94,237 | 99,444 | 126,878 | |||||||||
Other income, net | (1,958 | ) | (259 | ) | (1,086 | ) | ||||||
Income before income taxes and equity in net income of affiliates | $ | 96,195 | $ | 99,703 | $ | 127,964 | ||||||
Amortization of Intangibles | ' | |||||||||||
The table below sets forth the amortization expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Amortization expense | $ | 9,347 | $ | 9,594 | $ | 10,225 | ||||||
The following table presents amortization of intangibles for each of the Company’s segments for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Amortization of intangibles: | ||||||||||||
CCS | $ | 4,099 | $ | 4,230 | $ | 4,588 | ||||||
ME | 36 | 139 | 406 | |||||||||
SMD | 5,212 | 5,225 | 5,231 | |||||||||
$ | 9,347 | $ | 9,594 | $ | 10,225 | |||||||
Summary of Total Net Sales to External Customers | ' | |||||||||||
The following table summarizes total net sales, based upon the country to which sales to external customers were made for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Net sales: | ||||||||||||
United States | $ | 201,380 | $ | 218,903 | $ | 213,671 | ||||||
Japan | 101,529 | 131,521 | 140,657 | |||||||||
Germany | 23,240 | 24,437 | 33,020 | |||||||||
Taiwan | 128,194 | 126,732 | 116,007 | |||||||||
Singapore | 30,942 | 25,607 | 28,337 | |||||||||
South Korea | 76,353 | 70,763 | 76,888 | |||||||||
China | 36,299 | 31,499 | 40,080 | |||||||||
Other | 95,522 | 86,441 | 100,599 | |||||||||
$ | 693,459 | $ | 715,903 | $ | 749,259 | |||||||
Summary of Property, Plant and Equipment Attributed to Significant Countries | ' | |||||||||||
The following table summarizes property, plant and equipment, net, attributed to significant countries for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Property, plant and equipment: | ||||||||||||
United States | $ | 123,846 | $ | 86,476 | $ | 59,444 | ||||||
Japan | 24,007 | 27,024 | 29,295 | |||||||||
Malaysia | 23,801 | 28,398 | 30,328 | |||||||||
Other | 14,786 | 15,123 | 11,487 | |||||||||
$ | 186,440 | $ | 157,021 | $ | 130,554 | |||||||
Quarterly_InformationUnaudited1
Quarterly Information-Unaudited (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quartely Information | ' | |||||||||||||||
Fiscal quarter ended | ||||||||||||||||
(In thousands, except per share data) | March 30, 2013 | June 29, 2013 | September 28, 2013 | December 31, 2013 | ||||||||||||
Net sales | $ | 165,070 | $ | 177,544 | $ | 164,585 | $ | 186,260 | ||||||||
Gross profit | 67,128 | 77,570 | 70,132 | 79,384 | ||||||||||||
Net income | 16,397 | 19,781 | 17,807 | 20,541 | ||||||||||||
Basic income per share | 0.12 | 0.14 | 0.13 | 0.15 | ||||||||||||
Diluted income per share | 0.12 | 0.14 | 0.13 | 0.15 | ||||||||||||
Fiscal quarter ended | ||||||||||||||||
(In thousands, except per share data) | March 31, 2012 | June 30, 2012 | September 29, 2012 | December 31, 2012 | ||||||||||||
Net sales | $ | 175,403 | $ | 188,233 | $ | 184,449 | $ | 167,818 | ||||||||
Gross profit | 76,244 | 82,746 | 81,932 | 66,461 | ||||||||||||
Net income | 17,859 | 21,673 | 18,037 | 11,256 | ||||||||||||
Basic income per share | 0.13 | 0.16 | 0.13 | 0.08 | ||||||||||||
Diluted income per share | 0.13 | 0.16 | 0.13 | 0.08 | ||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Effect of Fourth Quarter Events, Amount | $2.20 | ' | ' |
Estimated useful life of amortizable intangible assets | ' | '9 years 4 months | '9 years 4 months |
Minimum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful life of amortizable intangible assets | ' | '3 years | ' |
Maximum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful life of amortizable intangible assets | ' | '15 years | ' |
Acquisitions_Purchase_Price_De
Acquisitions Purchase Price (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Apr. 01, 2013 |
Jetalon [Member] | Jetalon [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Cash paid at closing | $13,358 | $2,961 | $0 | $13,358 | ' |
Contingent consideration obligation | 1,282 | 0 | ' | ' | 3,094 |
Total purchase price | ' | ' | ' | ' | $16,452 |
Acquisitions_Purchase_price_al
Acquisitions Purchase price allocation (Details) (Jetalon [Member], USD $) | Apr. 01, 2013 |
In Thousands, unless otherwise specified | |
Jetalon [Member] | ' |
Business Acquisition [Line Items] | ' |
Accounts Receivable, Inventory and Other Assets | $944 |
Identifiable Intangible assets | 5,634 |
Current liabilities | -216 |
Net assets acquired | 6,362 |
Goodwill | 10,090 |
Total purchase price | $16,452 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 3 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Apr. 01, 2013 | Jun. 30, 2012 | Apr. 02, 2012 | Dec. 31, 2011 | Jul. 02, 2011 | Apr. 04, 2011 | |
Jetalon [Member] | Jetalon [Member] | EPT [Member] | EPT [Member] | EPT [Member] | Pureline [Member] | Pureline [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | $10,090,000 | ' | $2,200,000 | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' |
Payments to Acquire Business | ' | ' | ' | 13,400,000 | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | ' | 14,500,000 | ' | ' | ' | ' | ' |
Additional equity interest acquired | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | 30.00% |
Percentage of equity method investment | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | 3,400,000 | ' | ' | ' | ' |
Fair value of equity interest in Pureline held by Company before acquisition date | ' | ' | ' | ' | ' | 2,900,000 | ' | ' | ' | ' |
Gain recognized in earnings | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' |
Foreign currency transaction gain realized upon acquisition. | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' |
Reclassification of cumulative translation adjustment associated with acquisition of business | 0 | -216,000 | 0 | ' | ' | ' | ' | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' |
Contingent consideration obligation | 1,282,000 | 0 | ' | ' | 3,094,000 | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset | ' | ' | ' | $1,800,000 | ' | ' | ' | ' | ' | ' |
Short_Term_Investment_Detail
Short - Term Investment (Detail) (Commercial Paper, USD $) | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |
Commercial Paper | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Cost basis | $19,999 |
Gross unrealized gains | 0 |
Gross unrealized losses | -4 |
Fair value | $19,995 |
Investments_with_Continuous_Un
Investments with Continuous Unrealized Losses and Related Fair Value (Detail) (Commercial Paper, USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2012 |
Commercial Paper | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Investments With Continuous Unrealized Losses For Less Than 12 Months, Fair Value | $19,995 |
Investments With Continuous Unrealized Losses For Less Than 12 Months, Unrealized Losses | ($4) |
Amortized_Cost_and_Fair_Value_
Amortized Cost and Fair Value of Fixed Maturity Available for Sale Securities by Investment Grade (Detail) (USD $) | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Cost Basis, Due in 1 year or less | $19,999 |
Cost Basis, Total | 19,999 |
Fair Value, Due in 1 year or less | 19,995 |
Fair Value, Total | $19,995 |
Trade_Accounts_and_Notes_Recei2
Trade Accounts and Notes Receivable (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Accounts receivable | $94,613 | $86,717 |
Notes receivable | 9,039 | 9,613 |
Trade accounts and notes receivable, gross | 103,652 | 96,330 |
Less allowance for doubtful accounts | 1,779 | 2,314 |
Trade accounts and notes receivable, net | $101,873 | $94,016 |
Inventories_Detail
Inventories (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Net | ' | ' |
Raw materials | $26,012 | $27,720 |
Work-in-process | 10,512 | 10,242 |
Finished goods | 56,998 | 60,667 |
Supplies | 552 | 515 |
Total inventories | $94,074 | $99,144 |
Inventories_Parenthetical_Deta
Inventories (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory Net [Abstract] | ' | ' |
Consignment inventories held by customers | $5.10 | $5.20 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | |||
Building and Building Improvements | Manufacturing Equipment | Molds | Office Furniture and Equipment | Building and Building Improvements | Manufacturing Equipment | Molds | Office Furniture and Equipment | ||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land | $12,866 | $11,065 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Buildings and improvements | 109,105 | 85,239 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Manufacturing equipment | 168,197 | 151,559 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Molds | 76,909 | 79,959 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Office furniture and equipment | 70,158 | 65,950 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Construction in progress | 33,021 | 26,551 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, gross | 470,256 | 420,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less accumulated depreciation | 283,816 | 263,302 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | $186,440 | $157,021 | $130,554 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful lives in years | ' | ' | ' | '5 years | '5 years | '3 years | '3 years | '35 years | '10 years | '5 years | '8 years |
Depreciation_Expense_Detail
Depreciation Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $29,468 | $28,013 | $26,839 |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
EPT | ||||
Investment [Line Items] | ' | ' | ' | ' |
Equity investments | ' | $2.40 | $2.40 | ' |
Previously owned equity interest | ' | ' | ' | 50.00% |
Payments to Acquire Business | ' | ' | ' | 3.4 |
Additional equity interest acquired | ' | ' | ' | 50.00% |
Gain on the sale of an equity method investment | $1.50 | ' | ' | ' |
Intangible_Assets_Detail
Intangible Assets (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying Amount | $152,977 | $166,405 |
Accumulated amortization | 109,468 | 119,198 |
Net carrying value | 43,509 | 47,207 |
Weighted average life in years | '9 years 4 months | '9 years 4 months |
Patents | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying Amount | 1,369 | 19,104 |
Accumulated amortization | 649 | 18,226 |
Net carrying value | 720 | 878 |
Weighted average life in years | '9 years 10 months | '9 years 1 month |
Developed Technology Rights | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying Amount | 78,686 | 76,414 |
Accumulated amortization | 62,257 | 59,147 |
Net carrying value | 16,429 | 17,267 |
Weighted average life in years | '7 years 5 months | '7 years 6 months |
Trademarks And Tradenames | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying Amount | 13,092 | 12,677 |
Accumulated amortization | 7,306 | 6,633 |
Net carrying value | 5,786 | 6,044 |
Weighted average life in years | '12 years 0 months | '12 years 1 month |
Customer Relationships | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying Amount | 57,617 | 56,700 |
Accumulated amortization | 39,146 | 33,761 |
Net carrying value | 18,471 | 22,939 |
Weighted average life in years | '11 years 0 months | '11 years 1 month |
Other Intangible Assets | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying Amount | 2,213 | 1,510 |
Accumulated amortization | 110 | 1,431 |
Net carrying value | $2,103 | $79 |
Weighted average life in years | '13 years 4 months | '9 years 5 months |
Amortization_Expense_Detail
Amortization Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | $9,347 | $9,594 | $10,225 |
Estimated_Future_Amortization_
Estimated Future Amortization Expense (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
2014 | $8,441 | ' |
2015 | 6,394 | ' |
2016 | 6,394 | ' |
2017 | 6,394 | ' |
2018 | 5,547 | ' |
Thereafter | 10,339 | ' |
Intangible assets, net | $43,509 | $47,207 |
Financing_Arrangements_Additio
Financing Arrangements - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Wells Fargo Bank | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Line of Credit Facility, Amount Outstanding | $0 | $0 |
Maximum borrowing capacity of line of credit agreements | 30,000,000 | ' |
Line of credit Maturing date | 9-Jun-14 | ' |
Cash flow leverage ratio required | 3 | ' |
Cash flow leverage ratio base amount | 1 | ' |
Minimum cash, cash equivalents and investments to be maintained by the company | 25,000,000 | ' |
Minimum cash, cash equivalents and investments to be held with the agent or its affiliates | 10,000,000 | ' |
Percent value of cash, cash equivalents and investments held by foreign subsidiaries | 65.00% | ' |
Maximum amount of capital expenditures | 85,000,000 | ' |
Variable interest rate | 2.50% | ' |
Commitment fee percentage | 0.38% | ' |
International Commercial Banks | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Line of Credit Facility, Amount Outstanding | 0 | 0 |
Maximum borrowing capacity of line of credit agreements | $11,400,000 | ' |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
2014 | $7,014 |
2015 | 6,264 |
2016 | 4,051 |
2017 | 3,430 |
2018 | 3,211 |
Thereafter | 669 |
Total minimum lease payments | $24,639 |
Lease_Commitments_Additional_I
Lease Commitments - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leased Assets [Line Items] | ' | ' | ' |
Total rental expense for all equipment and building operating leases | $9.50 | $9.40 | $9.40 |
Income_Loss_Before_Income_Taxe
Income (Loss) Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Line Items] | ' | ' | ' |
Domestic | $29,066 | $49,056 | $68,839 |
Foreign | 67,129 | 50,647 | 59,125 |
Income before income taxes and equity in net income of affiliates | $96,195 | $99,703 | $127,964 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax [Line Items] | ' | ' | ' |
Income tax expense benefit per diluted share | $0.04 | $0.02 | ' |
Income tax benefit estimate attributable to the tax status of subsidiary | $5,400,000 | $2,400,000 | $0 |
Net deferred tax assets | 18,810,000 | 23,972,000 | ' |
Deferred Tax Assets, Valuation Allowance | 5,435,000 | 4,990,000 | ' |
Undistributed foreign earnings | 257,000,000 | ' | ' |
Withholding taxes to be incurred on distribution of retained earnings | 6,300,000 | ' | ' |
Unrecognized tax benefits that would impact effective tax rate | 1,900,000 | ' | ' |
Accrued interest and penalties related to unrecognized tax benefits | 800,000 | 1,000,000 | ' |
Interest and penalties recognized in the statement of operations | -100,000 | 0 | 0 |
Gross unrecognized tax benefit decrease within next twelve months | 1,400,000 | ' | ' |
Nihon Entegris KK | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Estimated taxable income | 18,200,000 | ' | ' |
State | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
State operating loss carryforwards | 2,000,000 | ' | ' |
Operating loss carryforwards, expiration date | 31-Dec-14 | ' | ' |
Year Which Prior Year's Tax Returns Are No Longer Subject to Tax Examination | 31-Dec-09 | ' | ' |
Foreign | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Net deferred tax assets | 8,200,000 | 10,200,000 | ' |
Deferred Tax Assets, Valuation Allowance | 0 | 600,000 | ' |
Estimated taxable income required to realize foreign deferred tax assets | 26,900,000 | ' | ' |
Operating loss carryforwards, expiration date | 31-Dec-15 | ' | ' |
Foreign tax credit carryforwards | 3,200,000 | ' | ' |
Tax credit carryforwards, expiration date | 31-Dec-19 | ' | ' |
Foreign operating loss carryforwards | 1,200,000 | ' | ' |
Year Which Prior Year's Tax Returns Are No Longer Subject to Tax Examination | 31-Dec-07 | ' | ' |
U.S. | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Net deferred tax assets | 16,000,000 | 18,700,000 | ' |
Deferred Tax Assets, Valuation Allowance | 5,400,000 | 4,400,000 | ' |
Estimated taxable income required to realize domestic deferred tax assets | $21,500,000 | ' | ' |
Year Which Prior Year's Tax Returns Are No Longer Subject to Tax Examination | 31-Dec-09 | ' | ' |
Deferred_Tax_Assets_and_Deferr
Deferred Tax Assets and Deferred Tax Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Deferred Tax Assets and Liabilities [Line Items] | ' | ' |
Accounts receivable | $269 | $389 |
Inventory | 2,853 | 2,643 |
Accruals not currently deductible for tax purposes | 8,844 | 10,054 |
Net operating loss and credit carryforwards | 3,972 | 2,669 |
Capital loss carryforward | 2,779 | 3,105 |
Depreciation | 1,070 | 2,870 |
Equity compensation | 3,157 | 3,155 |
Asset impairments | 732 | 1,021 |
Purchased intangibles assets | 1,439 | 1,396 |
Other, net | 2,976 | 3,604 |
Gross deferred tax assets | 28,091 | 30,906 |
Valuation allowance | -5,435 | -4,990 |
Total deferred tax assets | 22,656 | 25,916 |
Depreciation | -3,245 | -1,252 |
Purchased intangible assets | -601 | -692 |
Total deferred tax liabilities | -3,846 | -1,944 |
Net deferred tax assets | $18,810 | $23,972 |
Components_of_Income_Tax_Benef
Components of Income Tax (Benefit) Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components Of Income Tax Expense Benefit [Line Items] | ' | ' | ' |
Current, Federal | $854 | $5,797 | $2,382 |
Current, State | 772 | 654 | 1,335 |
Current, Foreign | 12,937 | 11,183 | 17,784 |
Current, Total | 14,563 | 17,634 | 21,501 |
Deferred (net of valuation allowance), Federal | 6,003 | 11,165 | -19,853 |
Deferred (net of valuation allowance), State | -650 | 168 | -647 |
Deferred (net of valuation allowance), Foreign | 1,753 | 1,914 | 3,216 |
Deferred (net of valuation allowance), Total | 7,106 | 13,247 | -17,284 |
Income tax expense | $21,669 | $30,881 | $4,217 |
Reconciliation_of_Income_Tax_E
Reconciliation of Income Tax Expense With Expected Amounts Based Upon Statutory Federal Tax Rates (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments, Owned, Federal Income Tax Note [Line Items] | ' | ' | ' |
Expected federal income tax at statutory rate | $33,668 | $34,896 | $44,788 |
State income taxes before valuation allowance, net of federal tax effect | -357 | 440 | 1,013 |
Income (losses) without tax expense (benefit) | 22 | -40 | -1,357 |
Effect of foreign source income | -10,583 | -5,314 | 1,959 |
Valuation allowance | 445 | 358 | -41,038 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Research and Development, Amount | -3,233 | -790 | -1,412 |
Other items, net | 1,707 | 1,331 | 264 |
Income tax expense | $21,669 | $30,881 | $4,217 |
Reconciliations_of_Total_Amoun
Reconciliations of Total Amount of Gross Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Unrecognized Tax Benefits [Line Items] | ' | ' |
Gross unrecognized tax benefits at beginning of year | $5,419 | $2,467 |
Increases in tax positions for prior years | 28 | 0 |
Decreases in tax positions for prior years | 0 | -19 |
Increases in tax positions for current year | 1,879 | 4,608 |
Settlements | -2,298 | -1,044 |
Lapse in statute of limitations | -751 | -593 |
Gross unrecognized tax benefits at end of year | $4,277 | $5,419 |
Equity_Additional_Information_
Equity - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 08, 2014 | Dec. 12, 2012 | Feb. 08, 2014 | Aug. 14, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Minimum | Maximum | Unvested Stock Options | Restricted Stock | BOD authorized plan | BOD authorized plan | Rule 10b5-1 plan [Member] | Rule 10b5-1 plan [Member] | Employee Stock Purchase Plan | Shareholder Rights Plan | ||||
Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized amount under share repurchase program | ' | ' | ' | ' | ' | ' | ' | ' | $50 | ' | $36.20 | ' | ' |
Share repurchase plan commencement date | ' | ' | ' | ' | ' | ' | ' | ' | 12-Dec-12 | ' | 14-Aug-13 | ' | ' |
Share repurchase plan expiration date | ' | ' | ' | ' | ' | ' | ' | 7-Feb-14 | ' | 7-Feb-14 | ' | ' | ' |
Term of plan, in years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining contractual term option outstanding | '3 years 11 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining contractual term option exercisable | '2 years 5 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for future grants | 6,800,000 | 7,700,000 | 8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' |
Total pre-tax intrinsic value of stock options exercised | 1.8 | 6.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total pre-tax intrinsic value based on the closing stock price | $11.59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of stock options outstanding | 6.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of stock options exercisable | 4.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares reserved for future issuance under the ESPP | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of employee contribution from compensation | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of discount from the fair market value | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued under the ESPP | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchase by employees | 200,000 | 300,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average price per share paid by the employees | $8 | $7.34 | $4.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining contractual term for unvested restricted shares, in years | '2 years | '1 year 10 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total compensation cost not yet recognized | ' | ' | ' | ' | ' | $3.10 | $9.80 | ' | ' | ' | ' | ' | ' |
Compensation cost expected to be recognized (in years) | '2 years 5 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based payment awards in the form of stock option awards | 553,000 | 470,000 | 511,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period, in years | ' | ' | ' | '3 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual term of stock options (in years) | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares entitled to be purchased of a series of preferred stock under each right | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'one-hundredth |
Exercise price under the shareholder rights plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50 |
Redemption of rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 |
Percentage of common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% |
Share_Based_Compensation_Expen
Share Based Compensation Expense Recognized in Statement of Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based compensation expense | $7,928 | $9,881 | $7,519 |
Summary_of_Option_Activity_Det
Summary of Option Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Number of shares | ' | ' | ' |
Number of shares, Options outstanding, beginning of year | 2,565 | 3,561 | 5,001 |
Number of shares, Granted | 553 | 470 | 511 |
Number of shares, Exercised | -786 | -1,293 | -1,698 |
Number of shares, Expired or Forfeited | -371 | -173 | -253 |
Number of shares, Options outstanding, end of year | 1,961 | 2,565 | 3,561 |
Number of shares, Options exercisable, end of year | 1,001 | 1,828 | 2,078 |
Weighted average exercise price | ' | ' | ' |
Weighted average exercise price, Options outstanding, beginning of year | $8.20 | $6.53 | $6.25 |
Weighted average exercise price, Granted | $9.88 | $9.27 | $8.75 |
Weighted average exercise price, Exercised | $7.54 | $3.76 | $5.95 |
Weighted average exercise price, Expired or Forfeited | $12.10 | $9.83 | $9.41 |
Weighted average exercise price, Options outstanding, end of year | $8.20 | $8.20 | $6.53 |
Weighted average exercise price, Options exercisable, end of year | $6.92 | $8.18 | $7.53 |
Summary_of_Options_Outstanding
Summary of Options Outstanding (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Options outstanding | 1,961 |
Options outstanding, Weighted average remaining life in years | '3 years 11 months |
Options outstanding, Weighted-average exercise price | $8.20 |
Number of Options exercisable | 1,001 |
Options exercisable, Weighted average exercise price | $6.92 |
Range One | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, minimum | $1.13 |
Range of exercise prices, maximum | $8.37 |
Number of Options outstanding | 684 |
Options outstanding, Weighted average remaining life in years | '1 year 11 months |
Options outstanding, Weighted-average exercise price | $5.67 |
Number of Options exercisable | 684 |
Options exercisable, Weighted average exercise price | $5.67 |
Range Two | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, minimum | $8.47 |
Range of exercise prices, maximum | $9.27 |
Number of Options outstanding | 642 |
Options outstanding, Weighted average remaining life in years | '4 years 7 months |
Options outstanding, Weighted-average exercise price | $9 |
Number of Options exercisable | 235 |
Options exercisable, Weighted average exercise price | $8.90 |
Range Three | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, minimum | $9.40 |
Range of exercise prices, maximum | $14.50 |
Number of Options outstanding | 635 |
Options outstanding, Weighted average remaining life in years | '5 years 5 months |
Options outstanding, Weighted-average exercise price | $10.11 |
Number of Options exercisable | 82 |
Options exercisable, Weighted average exercise price | $11.65 |
Cash_Received_from_Exercise_of
Cash Received from Exercise of Stock Options and Employee Contribution to ESPP (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Exercise of stock options and employee contributions to the ESPP | $7,685 | $7,431 | $11,690 |
Summary_of_Restricted_Stock_Ac
Summary of Restricted Stock Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Number of shares | ' | ' | ' |
Number of shares, Unvested, beginning of year | 1,802 | 2,298 | 2,738 |
Number of shares, Granted | 717 | 744 | 795 |
Number of shares, Vested | -871 | -1,132 | -1,087 |
Number of shares, Forfeited | -78 | -108 | -148 |
Number of shares, Unvested, end of year | 1,570 | 1,802 | 2,298 |
Weighted average grant date fair value, Unvested | ' | ' | ' |
Weighted average grant date fair value, Unvested, beginning of year | $7.02 | $5.49 | $4.43 |
Weighted average grant date fair value, Granted | $9.85 | $9.21 | $8.65 |
Weighted average grant date fair value, Vested | $5.67 | $5.42 | $5.22 |
Weighted average grant date fair value, Forfeited | $8.66 | $6.22 | $4.89 |
Weighted average grant date fair value, Unvested, end of year | $8.98 | $7.02 | $5.49 |
Summary_of_Allocation_of_Share
Summary of Allocation of Share Based Compensation Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | $7,928 | $9,881 | $7,519 |
Tax benefit | 2,643 | 3,686 | 2,805 |
Share-based compensation expense, net of tax | 5,285 | 6,195 | 4,714 |
Cost of Sales | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | 690 | 575 | 650 |
Engineering, Research and Development Expense | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | 502 | 500 | 566 |
Selling, General And Administrative Expenses | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | $6,736 | $8,806 | $6,303 |
Weighted_Average_Assumptions_U
Weighted Average Assumptions Used in Valuation and Resulting Weighted Average Fair Value Per Option Granted (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Volatility | 51.70% | 82.40% | 79.30% |
Risk-free interest rate | 0.70% | 0.60% | 1.80% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Expected life | '3 years 7 months | '3 years 9 months | '4 years |
Weighted average fair value per option | $3.80 | $5.42 | $5.14 |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Maximum matching contribution | 4.00% | ' | ' |
Employer profit sharing and matching contribution expense | $3.20 | $3 | $3.20 |
Estimated_Funded_Status_Detail
Estimated Funded Status (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | $12,607 | $16,364 | ' |
Service cost | 98 | 89 | 1,268 |
Interest cost | 122 | 163 | 290 |
Actuarial losses (gain) | -158 | 367 | ' |
Benefits paid | -1,072 | -3,329 | ' |
Foreign exchange impact | -1,742 | -1,047 | ' |
Benefit obligation at end of year | 9,855 | 12,607 | 16,364 |
Fair value of plan assets at beginning of year | 382 | 357 | ' |
Return on plan assets | 5 | 4 | ' |
Employer contributions | 9 | 8 | ' |
Foreign exchange impact | -12 | 13 | ' |
Fair value of plan assets at end of year | 384 | 382 | 357 |
Plan assets less than benefit obligation - Net amount recognized | ($9,471) | ($12,225) | ' |
Amounts_Recognized_in_Consolid
Amounts Recognized in Consolidated Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Noncurrent liability | ($9,471) | ($12,225) |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | $857 | $1,059 |
Amounts_Recognized_in_Accumula
Amounts Recognized in Accumulated Other Comprehensive Loss Net of Tax (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | $811 | $1,028 |
Prior service cost | 259 | 287 |
Unrecognized transition obligation | -11 | -12 |
Gross amount recognized | 1,059 | 1,303 |
Deferred income taxes | -202 | -244 |
Net amount recognized | $857 | $1,059 |
Pension_Plans_Accumulated_Bene
Pension Plans Accumulated Benefit Obligation in Excess of Plan Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | $9,855 | $12,607 |
Accumulated benefit obligation | 8,651 | 11,293 |
Fair value of plan assets | $384 | $382 |
Components_of_Net_Periodic_Ben
Components of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $98 | $89 | $1,268 |
Interest cost | 122 | 163 | 290 |
Expected return on plan assets | -7 | -7 | -65 |
Amortization of prior service cost | 19 | 19 | 126 |
Amortization of net transition obligation | -1 | -1 | -1 |
Amortization of plan loss | 219 | 20 | 49 |
Recognized actuarial net loss | 8 | 1 | 1 |
Acquisition | 0 | 0 | 16 |
Curtailments | 0 | 0 | -726 |
Net periodic pension benefit cost | $458 | $284 | $958 |
Estimated_Amount_Amortized_fro
Estimated Amount Amortized from Accumulated Other Comprehensive Income Into Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' |
Transition obligation | ($1) |
Prior service cost | 19 |
Net actuarial loss | 29 |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year, Total | $47 |
Assumptions_Used_in_Determinin
Assumptions Used in Determining Benefit Obligation and Net Periodic Benefit Cost for Pension Plans (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligations, Discount rate | 1.23% | 1.19% | 1.40% |
Benefit obligations, Rate of compensation increase | 4.10% | 4.18% | 4.22% |
Net periodic benefit cost, Discount rate | 1.41% | 1.80% | 1.38% |
Net periodic benefit cost, Rate of compensation increase | 2.01% | 2.84% | 5.14% |
Net periodic benefit cost, Expected return on plan assets | 0.70% | 1.14% | 1.52% |
Fair_Value_Measurements_of_Pen
Fair Value Measurements of Pension Plan Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $384 | $382 | $357 |
Fair Value, Inputs, Level 1 | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 384 | ' | ' |
Taiwan Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $384 | $382 | ' |
Expected_Contribution_and_Bene
Expected Contribution and Benefit Payments (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' |
Contribution in year 2014 | $9 |
Payments in year 2014 | 242 |
Payments in year 2015 | 123 |
Payments in year 2016 | 195 |
Payments in year 2017 | 265 |
Payments in year 2018 | 293 |
Payments in years 2019-2023 | $2,340 |
Financial_Assets_Measured_at_F
Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Short-term investments Commercial paper | $0 | $19,995 |
Total assets measured and recorded at fair value | 168,078 | 153,001 |
Foreign exchange forward contracts | 514 | 4,603 |
Contingent consideration obligation | 1,282 | 0 |
Total liabilities measured and recorded at fair value | 1,796 | 4,603 |
Commercial Paper | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 49,988 | 59,980 |
Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 118,090 | 73,026 |
Fair Value, Inputs, Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Short-term investments Commercial paper | 0 | 0 |
Total assets measured and recorded at fair value | 118,090 | 73,026 |
Foreign exchange forward contracts | 0 | 0 |
Contingent consideration obligation | 0 | 0 |
Total liabilities measured and recorded at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 | Commercial Paper | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 0 | 0 |
Fair Value, Inputs, Level 1 | Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 118,090 | 73,026 |
Fair Value, Inputs, Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Short-term investments Commercial paper | 0 | 19,995 |
Total assets measured and recorded at fair value | 49,988 | 79,975 |
Foreign exchange forward contracts | 514 | 4,603 |
Contingent consideration obligation | 0 | 0 |
Total liabilities measured and recorded at fair value | 514 | 4,603 |
Fair Value, Inputs, Level 2 | Commercial Paper | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 49,988 | 59,980 |
Fair Value, Inputs, Level 2 | Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Short-term investments Commercial paper | 0 | 0 |
Total assets measured and recorded at fair value | 0 | 0 |
Foreign exchange forward contracts | 0 | 0 |
Contingent consideration obligation | 1,282 | 0 |
Total liabilities measured and recorded at fair value | 1,282 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial Paper | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Cash equivalents | $0 | $0 |
Fair_Value_Measurements_Inform
Fair Value Measurements Information about derivative positions (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Gross Derivative Liability | $620 | $4,730 |
Gross Derivative Asset | 106 | 127 |
Foreign exchange forward contracts | $514 | $4,603 |
Fair_Value_Measurements_Losses
Fair Value Measurements (Losses) gains on forward currency contracts (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Losses on foreign exchange forward contracts | $5,726 | $5,759 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 04, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' | ' |
Gain on the sale of an equity method investment | ' | ' | $1,500,000 | ' |
Loss related to the disposition of the equity interest | ' | ' | 200,000 | ' |
Gain on cumulative translation reclassification adjustment associated with the equity method investee | -787,000 | 0 | 1,715,000 | ' |
Carrying value of investment | ' | ' | ' | 4,100,000 |
Sale of stock, fair value of consideration received | ' | ' | ' | 3,900,000 |
Cash, fair value received | ' | ' | 1,800,000 | ' |
Equipment, fair value received | ' | ' | ' | 400,000 |
Intangibles, fair value received | ' | ' | ' | $1,700,000 |
Reconciliation_of_Share_Amount
Reconciliation of Share Amount Used in Computation of Basic and Diluted Earnings Per Share (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ' | ' | ' |
Basic earnings (loss) per share-Weighted common shares outstanding | 138,950 | 137,306 | 134,685 |
Weighted common shares assumed upon exercise of options and vesting of restricted stock units | 668 | 1,106 | 1,538 |
Diluted earnings (loss) per share-Weighted common shares outstanding | 139,618 | 138,412 | 136,223 |
Shares_Excluded_Underlying_Sto
Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Shares excluded from calculations of diluted EPS | 1,248 | 1,431 | 1,471 |
Summary_of_Financial_Informati
Summary of Financial Information for Reportable Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | $186,260 | $164,585 | $177,544 | $165,070 | $167,818 | $184,449 | $188,233 | $175,403 | $693,459 | $715,903 | $749,259 |
Total segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 148,944 | 165,809 | 188,527 |
Total assets | 875,294 | ' | ' | ' | 811,544 | ' | ' | ' | 875,294 | 811,544 | 724,663 |
Total depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 38,815 | 37,607 | 37,064 |
Total capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 60,360 | 49,929 | 30,267 |
CCS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | 447,410 | 461,838 | 483,958 |
Total segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 106,120 | 116,356 | 140,313 |
Total assets | 276,386 | ' | ' | ' | 234,766 | ' | ' | ' | 276,386 | 234,766 | 213,477 |
Total depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 17,010 | 15,725 | 15,682 |
Total capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 43,635 | 29,650 | 16,170 |
ME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | 178,201 | 182,375 | 182,150 |
Total segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 35,737 | 37,223 | 29,959 |
Total assets | 86,810 | ' | ' | ' | 86,755 | ' | ' | ' | 86,810 | 86,755 | 89,642 |
Total depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 9,302 | 8,765 | 7,859 |
Total capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 7,633 | 12,632 | 8,618 |
SMD | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total net sales | ' | ' | ' | ' | ' | ' | ' | ' | 67,848 | 71,690 | 83,151 |
Total segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 7,087 | 12,230 | 18,255 |
Total assets | 89,343 | ' | ' | ' | 90,797 | ' | ' | ' | 89,343 | 90,797 | 94,191 |
Total depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 10,322 | 10,626 | 10,694 |
Total capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 5,467 | 3,980 | 3,039 |
Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 422,755 | ' | ' | ' | 399,226 | ' | ' | ' | 422,755 | 399,226 | 327,353 |
Total depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 2,181 | 2,491 | 2,829 |
Total capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $3,625 | $3,667 | $2,440 |
Reconciliation_of_Total_Segmen
Reconciliation of Total Segment Profit to Operating Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Total segment profit | $148,944 | $165,809 | $188,527 |
Amortization of intangibles | 9,347 | 9,594 | 10,225 |
Contingent consideration fair value adustment | -1,813 | 0 | 0 |
Unallocated general and administrative expenses | 47,173 | 56,771 | 51,424 |
Operating income | 94,237 | 99,444 | 126,878 |
Other income, net | -1,958 | -259 | -1,086 |
Income before income taxes and equity in net income of affiliates | $96,195 | $99,703 | $127,964 |
Amortization_of_Intangibles_De
Amortization of Intangibles (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Amortization of intangibles | $9,347 | $9,594 | $10,225 |
CCS | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Amortization of intangibles | 4,099 | 4,230 | 4,588 |
ME | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Amortization of intangibles | 36 | 139 | 406 |
SMD | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Amortization of intangibles | $5,212 | $5,225 | $5,231 |
Summary_of_Total_Net_Sales_to_
Summary of Total Net Sales to External Customers (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $186,260 | $164,585 | $177,544 | $165,070 | $167,818 | $184,449 | $188,233 | $175,403 | $693,459 | $715,903 | $749,259 |
UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 201,380 | 218,903 | 213,671 |
JAPAN | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 101,529 | 131,521 | 140,657 |
GERMANY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 23,240 | 24,437 | 33,020 |
TAIWAN, PROVINCE OF CHINA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 128,194 | 126,732 | 116,007 |
SINGAPORE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 30,942 | 25,607 | 28,337 |
KOREA, REPUBLIC OF | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 76,353 | 70,763 | 76,888 |
CHINA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 36,299 | 31,499 | 40,080 |
All Other Segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $95,522 | $86,441 | $100,599 |
Summary_of_Property_Plant_and_
Summary of Property, Plant and Equipment Attributed to Significant Countries (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Segment Reporting Information [Line Items] | ' | ' | ' |
Property, plant and equipment | $186,440 | $157,021 | $130,554 |
UNITED STATES | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Property, plant and equipment | 123,846 | 86,476 | 59,444 |
JAPAN | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Property, plant and equipment | 24,007 | 27,024 | 29,295 |
Malaysia | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Property, plant and equipment | 23,801 | 28,398 | 30,328 |
All Other Segments | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Property, plant and equipment | $14,786 | $15,123 | $11,487 |
Subsequent_Event_Subsequent_Ev1
Subsequent Event Subsequent Event (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 04, 2014 | Feb. 04, 2014 | Dec. 31, 2013 | Feb. 04, 2014 | Feb. 04, 2014 | Feb. 04, 2014 | Feb. 04, 2014 | Feb. 04, 2014 | |
ATMI [Member] | ATMI [Member] | Senior secured term loan facility [Member] | Senior unsecured notes [Member] | Senior secured asset-based revolving [Member] | ATMI [Member] | Entegris [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Net of Cash Acquired | $13,358,000 | $2,961,000 | $0 | ' | $1,200,000,000 | ' | ' | ' | ' | ' | ' |
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period | ' | ' | ' | ' | ' | 361,000,000 | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | $34 | ' | ' | ' | ' | ' | ' | ' |
Termination Fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | 100,000,000 |
Maximum borrowing capacity of line of credit agreements | ' | ' | ' | ' | ' | ' | $460,000,000 | $360,000,000 | $85,000,000 | ' | ' |
Quarterly_Information_Detail
Quarterly Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 31, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $186,260 | $164,585 | $177,544 | $165,070 | $167,818 | $184,449 | $188,233 | $175,403 | $693,459 | $715,903 | $749,259 |
Gross profit | 79,384 | 70,132 | 77,570 | 67,128 | 66,461 | 81,932 | 82,746 | 76,244 | 294,214 | 307,383 | 325,930 |
Net income attributable to Entegris, Inc. | $20,541 | $17,807 | $19,781 | $16,397 | $11,256 | $18,037 | $21,673 | $17,859 | $74,526 | $68,825 | $123,846 |
Basic income per share attributable to Entegris, Inc. | $0.15 | $0.13 | $0.14 | $0.12 | $0.08 | $0.13 | $0.16 | $0.13 | $0.54 | $0.50 | $0.92 |
Diluted income per share attributable to Entegris, Inc. | $0.15 | $0.13 | $0.14 | $0.12 | $0.08 | $0.13 | $0.16 | $0.13 | $0.53 | $0.50 | $0.91 |