IPG Photonics (IPGP) 10-Q 7 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017
Entity Registrant Name	IPG PHOTONICS CORP
Entity Central Index Key	1,111,928
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		53,615,872

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 880,267	$ 623,855
Short-term investments	165,655	206,779
Accounts receivable, net	226,756	155,901
Inventories	282,495	239,010
Prepaid income taxes	40,639	34,128
Prepaid expenses and other current assets	46,727	41,289
Total current assets	1,642,539	1,300,962
DEFERRED INCOME TAXES, NET	40,547	42,442
GOODWILL	51,143	19,828
INTANGIBLE ASSETS, NET	49,669	28,789
PROPERTY, PLANT AND EQUIPMENT, NET	441,494	379,375
OTHER ASSETS	20,673	18,603
TOTAL	2,246,065	1,789,999
CURRENT LIABILITIES:
Current portion of long-term debt	3,576	3,188
Accounts payable	34,271	28,048
Accrued expenses and other liabilities	134,284	102,485
Income taxes payable	10,060	24,554
Total current liabilities	182,191	158,275
DEFERRED INCOME TAXES AND OTHER LONG-TERM LIABILITIES	58,479	36,365
LONG-TERM DEBT, NET OF CURRENT PORTION	46,296	37,635
Total liabilities	286,966	232,275
COMMITMENTS AND CONTINGENCIES (NOTE 12)
IPG PHOTONICS CORPORATION EQUITY:
Common stock, $0.0001 par value, 175,000,000 shares authorized; 53,918,008 and 53,599,374 shares issued and outstanding, respectively, at September 30, 2017; 53,354,579 and 53,251,805 shares issued and outstanding, respectively, at December 31, 2016	5	5
Treasury stock, at cost (318,634 and 102,774 shares held)	(35,857)	(8,946)
Additional paid-in capital	693,337	650,974
Retained earnings	1,390,911	1,094,108
Accumulated other comprehensive loss	(89,297)	(178,583)
Total IPG Photonics Corporation equity	1,959,099	1,557,558
NONCONTROLLING INTERESTS	0	166
Total equity	1,959,099	1,557,724
TOTAL	$ 2,246,065	$ 1,789,999

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	175,000,000	175,000,000
Common stock, shares issued (in shares)	53,918,008	53,354,579
Common stock, shares outstanding (in shares)	53,599,374	53,251,805
Treasury stock, shares (in shares)	318,634	102,774

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
NET SALES	$ 392,615	$ 266,017	$ 1,047,834	$ 726,052
COST OF SALES	168,060	121,226	459,716	329,147
GROSS PROFIT	224,555	144,791	588,118	396,905
OPERATING EXPENSES:
Sales and marketing	13,384	10,460	36,347	28,183
Research and development	25,541	20,543	74,281	56,444
General and administrative	21,491	16,797	59,092	46,849
Loss on foreign exchange	3,917	2,905	15,553	6,316
Total operating expenses	64,333	50,705	185,273	137,792
OPERATING INCOME	160,222	94,086	402,845	259,113
OTHER INCOME (EXPENSE), Net:
Interest (expense) income, net	(125)	373	651	835
Other income (expense), net	459	194	(47)	342
Total other income (expense)	334	567	604	1,177
INCOME BEFORE PROVISION FOR INCOME TAXES	160,556	94,653	403,449	260,290
PROVISION FOR INCOME TAXES	(44,959)	(25,426)	(108,817)	(74,703)
NET INCOME	115,597	69,227	294,632	185,587
LESS: NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	(8)	(26)	(33)
NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION	$ 115,597	$ 69,235	$ 294,658	$ 185,620
NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER SHARE:
Basic (in dollars per share)	$ 2.16	$ 1.30	$ 5.51	$ 3.50
Diluted (in dollars per share)	$ 2.11	$ 1.29	$ 5.40	$ 3.45
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic (in shares)	53,440	53,071	53,453	53,039
Diluted (in shares)	54,698	53,761	54,570	53,752

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 115,597	$ 69,227	$ 294,632	$ 185,587
Other comprehensive income, net of tax:
Translation adjustments	29,855	8,068	89,076	32,948
Unrealized gain (loss) on derivatives	11	(47)	(35)	104
Loss on available-for-sale investments, net of tax reclassified to net income	0	0	298	0
Total other comprehensive loss	29,866	8,021	89,339	33,052
Comprehensive income	145,463	77,248	383,971	218,639
Comprehensive loss attributable to noncontrolling interest	0	(4)	(26)	(17)
Comprehensive income attributable to IPG Photonics Corporation	$ 145,463	$ 77,252	$ 383,997	$ 218,656

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 294,632	$ 185,587
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	46,416	37,646
Deferred income taxes	14,534	(12,054)
Stock-based compensation	16,989	16,099
Unrealized losses on foreign currency transactions	8,197	6,044
Other	699	193
Provisions for inventory, warranty & bad debt	34,690	33,506
Changes in assets and liabilities that (used) provided cash:
Accounts receivable	(56,416)	(10,853)
Inventories	(39,697)	(42,814)
Prepaid expenses and other current assets	(1,560)	(4,102)
Accounts payable	3,423	(9,816)
Accrued expenses and other liabilities	1,809	3,848
Income and other taxes payable	(26,866)	(7,439)
Net cash provided by operating activities	296,850	195,845
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of and deposits on property, plant and equipment	(99,221)	(100,047)
Proceeds from sales of property, plant and equipment	15,437	220
Purchases of short-term investments	(146,585)	(179,374)
Proceeds from sales of short-term investments	188,143	158,808
Acquisitions of businesses, net of cash acquired	(50,594)	(46,527)
Other	(496)	16
Net cash used in investing activities	(93,316)	(166,904)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from line-of-credit facilities	6,761	6,030
Payments on line-of-credit facilities	(6,761)	(6,030)
Purchase of noncontrolling interests	(197)	(950)
Proceeds on long-term borrowings	28,000	23,750
Principal payments on long-term borrowings	(18,951)	(1,797)
Proceeds from issuance of common stock under employee stock option and purchase plans less payments for taxes related to net share settlement of equity awards	23,296	9,186
Purchase of treasury stock, at cost	(26,911)	(3,483)
Net cash provided by financing activities	5,237	26,706
EFFECT OF CHANGES IN EXCHANGE RATES ON CASH AND CASH EQUIVALENTS	47,641	7,379
NET INCREASE IN CASH AND CASH EQUIVALENTS	256,412	63,026
CASH AND CASH EQUIVALENTS — Beginning of period	623,855	582,532
CASH AND CASH EQUIVALENTS — End of period	880,267	645,558
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	1,965	623
Cash paid for income taxes	118,660	95,539
Non-cash transactions:
Demonstration units transferred from inventory to other assets	3,290	2,916
Inventory transferred to machinery and equipment	4,087	4,056
Additions (reductions) in accounts payable related to property, plant and equipment	$ (15)	$ (430)

Consolidated Statements Of Equi

Consolidated Statements Of Equity - USD ($) $ in Thousands	Total	COMMON STOCK	TREASURY STOCK	ADDITIONAL PAID-IN CAPITAL	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS	TOTAL IPG PHOTONICS CORPORATION EQUITY	NONCONTROLLING INTERESTS (NCI)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of adopted accounting standards				$ 0	$ 0
Balance, beginning of year (in shares) at Dec. 31, 2015		52,883,902	0
Balance, beginning of year at Dec. 31, 2015		$ 5	$ 0	607,649	833,356	$ (181,482)		$ 1,137
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		268,198
Exercise of stock options		$ 0		10,737
Common stock issued under employee stock purchase plan (in shares)		19,015
Common stock issued under employee stock purchase plan		$ 0		1,293
Purchased common stock (in shares)		(41,800)	(41,800)
Purchased common stock		$ 0	$ (3,483)
Stock-based compensation				16,099
Net income attributable to IPG Photonics Corporation	$ 185,620				185,620
Translation adjustments	32,948					32,948
Change in unrealized (loss) gain on derivatives, net of tax	104					104
Unrealized loss on available-for-sale investments, net of tax	0					0
Realized loss on available-for-sale investments, net of tax, reclassified to net income						0
Purchase of NCI								(950)
Net loss attributable to NCI	(33)							(33)
Other comprehensive income attributable to NCI	(17)							16
Balance, end of period (in shares) at Sep. 30, 2016		53,129,315	41,800
Balance, end of period at Sep. 30, 2016	1,503,016	$ 5	$ (3,483)	635,778	1,018,976	(148,430)	$ 1,502,846	170
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of adopted accounting standards				2,078	2,145
Balance, beginning of year (in shares) at Dec. 31, 2016		53,251,805	102,774
Balance, beginning of year at Dec. 31, 2016	1,557,724	$ 5	$ (8,946)	650,974	1,094,108	(178,583)		166
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		543,547
Exercise of stock options		$ 0		21,627
Common stock issued under employee stock purchase plan (in shares)		19,882
Common stock issued under employee stock purchase plan		$ 0		1,669
Purchased common stock (in shares)		(215,860)	(215,860)
Purchased common stock		$ 0	$ (26,911)
Stock-based compensation				16,989
Net income attributable to IPG Photonics Corporation	294,658				294,658
Translation adjustments	89,076					89,023
Change in unrealized (loss) gain on derivatives, net of tax	(35)					(35)
Unrealized loss on available-for-sale investments, net of tax	298					(240)
Realized loss on available-for-sale investments, net of tax, reclassified to net income						538
Purchase of NCI								(197)
Net loss attributable to NCI	(26)							(26)
Other comprehensive income attributable to NCI	(26)							57
Balance, end of period (in shares) at Sep. 30, 2017		53,599,374	318,634
Balance, end of period at Sep. 30, 2017	$ 1,959,099	$ 5	$ (35,857)	$ 693,337	$ 1,390,911	$ (89,297)	$ 1,959,099	$ 0

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared by IPG Photonics Corporation, or "IPG", "its" or the "Company". Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 . In the opinion of the Company's management, the unaudited financial information for the interim periods presented reflects all adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash flows. The results reported in these consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. The Company has evaluated subsequent events through the time of filing this Quarterly Report on Form 10-Q with the SEC.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). ASU 2014-09 supersedes the revenue recognition requirements in "Revenue Recognition (Topic 605)" and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14 "Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date," which defers the effective date of ASU 2014-09 one year to interim and annual reporting periods beginning after December 15, 2017, which would be the Company's fiscal year ending December 31, 2018. In May 2016, the FASB also issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," to provide additional clarification of accounting for collections of sales taxes as well as recognition of revenue (i) associated with contract modifications, (ii) for noncash consideration, and (iii) based on the collectability of the consideration from the customer. The guidance also specifies when a contract should be considered "completed" for purposes of applying the transition guidance. The Company has completed its assessment of the new guidance and is in the process of training finance and sales personnel, updating corporate policies, and modifying reporting packages to support the new disclosure requirements. The Company does not expect the standard will have a material impact on the amount and timing of revenue recognized in its consolidated financial statements and has elected to use the modified retrospective application approach for transition to the new standard. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350)" ("ASU 2017-04"). ASU 2017-04 simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. ASU 2017-04 is effective for public companies for annual reporting periods beginning after December 15, 2020, and interim reporting periods within such period. The amendments should be applied prospectively on or after the effective date and require a disclosure as to the nature of and reason for the change in accounting principle upon transition. Early adoption is allowed for all entities as of January 1, 2017, for annual and any interim impairment tests occurring after January 1, 2017. The Company is currently evaluating the potential impact that the standard will have on its consolidated financial statements upon adoption. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). ASU 2016-02 requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than twelve months. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. The Company is continuing to evaluate the standard but does not expect that it will have a material effect on its consolidated financial statements upon adoption. In October 2016, the FASB issued ASU No. 2016-16, "Income Taxes (Topic 740) - Intra-Entity Transfers of Assets other than Inventory" ("ASU 2016-16"). ASU 2016-16 eliminates the current exception that prohibits the recognition of current and deferred income tax consequences for intra-entity asset transfers (other than inventory) until the asset has been sold to an outside party. The amendments will be applied on a modified retrospective basis through a cumulative effect adjustment to retained earnings. Deferred tax assets should be assessed to determine if realizable. Disclosures will be required for the (i) reason for and notice of change, (ii) effect of change on income from continuing operations and (iii) cumulative effect of change on retained earnings. Public entities will apply these changes in annual reporting periods beginning after December 15, 2017, and interim reporting periods within such period. Early adoption is permitted. The Company is continuing to evaluate the standard but does not expect that it will have a material effect on its consolidated financial statements upon adoption.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consist of the following: September 30, December 31, 2017 2016 Components and raw materials $ 131,920 $ 93,284 Work-in-process 35,097 44,723 Finished components and devices 115,478 101,003 Total $ 282,495 $ 239,010 The Company recorded inventory provisions totaling $4,033 and $6,518 for the three months ended September 30, 2017 and 2016 , respectively, and $13,439 and $16,243 for the nine months ended September 30, 2017 and 2016 , respectively. These provisions relate to the recoverability of the value of inventories due to technological changes and excess quantities. These provisions are reported as a reduction to components and raw materials and finished components and devices.

Accrued Expenses And Other Liab

Accrued Expenses And Other Liabilities	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses And Other Liabilities	ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following: September 30, December 31, 2017 2016 Accrued compensation $ 60,544 $ 43,761 Customer deposits and deferred revenue 43,425 34,571 Current portion of accrued warranty 20,344 15,711 Other 9,971 8,442 Total $ 134,284 $ 102,485

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Financing Arrangements	FINANCING ARRANGEMENTS The Company's borrowings under existing financing arrangements consist of the following: September 30, December 31, 2017 2016 Term debt: Long-term notes $ 49,872 $ 40,823 Less: current portion (3,576 ) (3,188 ) Total long-term debt $ 46,296 $ 37,635 At September 30, 2017 , the outstanding principal balance on the two long-term notes was $49,872 of which $3,576 is the current portion. The Company has an unsecured note of $22,266 of which $1,188 is the current portion. The interest on this unsecured note is variable at 1.20% above LIBOR and is fixed using an interest rate swap at 2.85% per annum. The unsecured note matures in May 2023, at which time the outstanding principal balance will be $15,438 . The Company has another note that is secured by its corporate aircraft with a outstanding principal balance of $27,606 of which $2,388 is the current portion. The interest on this collateralized note is fixed at 2.74% per annum. The collateralized note matures in July 2022, at which time the outstanding principal balance will be $15,375 . The Company also maintains U.S. and Euro lines-of-credit which are available to certain foreign subsidiaries and allow for borrowings in the local currencies of those subsidiaries. At September 30, 2017 and December 31, 2016 , there were no amounts drawn on the U.S. line-of-credit, and there were $109 and $161 , respectively, of guarantees issued against the facility which reduce the amount of the facility available to draw. At September 30, 2017 and December 31, 2016 , there were no amounts drawn on the Euro lines-of-credit, and there were $985 and $11,999 , respectively, of guarantees issued against those facilities which reduce the amount available to draw. After providing for the guarantees used the total unused credit lines and overdraft facilities are $110,333 at September 30, 2017 .

Net Income Attributable To IPG

Net Income Attributable To IPG Photonics Corporation Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income Attributable To IPG Photonics Corporation Per Share	NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER SHARE The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per share: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net income attributable to IPG Photonics Corporation $ 115,597 $ 69,235 $ 294,658 $ 185,620 Weighted average shares 53,440 53,071 53,453 53,039 Dilutive effect of common stock equivalents 1,258 690 1,117 713 Diluted weighted average common shares 54,698 53,761 54,570 53,752 Basic net income attributable to IPG Photonics Corporation per share $ 2.16 $ 1.30 $ 5.51 $ 3.50 Diluted net income attributable to IPG Photonics Corporation per share $ 2.11 $ 1.29 $ 5.40 $ 3.45 For the three months ended September 30, 2017 and 2016 , respectively, the computation of diluted weighted average common shares excludes 8,800 and 52,100 common stock equivalents because the effect of including them would be anti-dilutive. The shares excluded for the three months ended September 30, 2017 and 2016 , respectively, are comprised of 3,800 and 2,500 restricted stock units ("RSUs") and 5,000 and 49,600 of non-qualified stock options. For the nine months ended September 30, 2017 and 2016 , respectively, the computation of diluted weighted average common shares excludes 53,600 and 80,600 common stock equivalents because the effect of including them would be anti-dilutive. The shares excluded for the nine months ended September 30, 2017 and 2016 , respectively, are comprised of 14,900 and 20,900 RSUs, 35,900 and 56,400 non-qualified stock options and 2,800 and 3,300 performance stock units. Under ASU 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"), excess tax benefits and deficiencies as a result of stock option exercises and release of RSUs upon vesting are to be recognized as discrete items within income tax expense or benefit in the consolidated statements of comprehensive income in the reporting period in which they occur. The Company recognized excess tax benefits from stock award exercises and restricted stock unit vesting as a discrete tax benefit, which reduced the provision for income taxes for the three months ended September 30, 2017 by $3,361 and for the nine months ended September 30, 2017 by $10,885 . The adoption of ASU 2016-09 also increased the calculation of fully diluted shares outstanding for the three months ended September 30, 2017 , by 317,835 shares and for the nine months ended September 30, 2017 , by 256,938 shares. On July 28, 2016, the Company announced that its Board of Directors authorized a share repurchase program (the “Program”) to mitigate the dilutive impact of shares issued upon exercise or release under the Company's various employee and director equity compensation and employee stock purchase plans. Under the Program, the Company's management is authorized to repurchase shares of common stock in an amount not to exceed the number of shares issued to employees and directors under its various employee and director equity compensation and employee stock purchase plans from January 1, 2016 through December 31, 2017. The Program limits aggregate share repurchases to no more than $100,000 over a period ending June 30, 2018. For the three months ended September 30, 2017 , the Company repurchased 17,328 shares of its common stock with an average price of $161.55 per share in the open market. Also, for the nine months ended September 30, 2017 , the Company repurchased 215,860 shares of its common stock with an average price of $124.67 per share in the open market. The impact on the reduction of weighted average shares for the three months ended September 30, 2017 and 2016 was 9,964 shares and 6,090 shares, respectively, and for the nine months ended September 30, 2017 and 2016 was 136,184 shares and 2,044 shares, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS Derivative instruments – The Company's primary market exposures are to interest rates and foreign exchange rates. The Company uses certain derivative financial instruments to help manage these exposures. The Company executes these instruments with financial institutions it judges to be credit-worthy. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. The Company recognizes all derivative financial instruments as either assets or liabilities at fair value in the consolidated balance sheets. The Company has no derivatives that are not accounted for as a hedging instrument. Cash flow hedges – The Company entered into a cash flow hedge which is an interest rate swap associated with a long-term note issued during the second quarter of 2016 that will terminate with the long-term note in May 2023. The fair value amounts in the consolidated balance sheet related to the interest rate swap were: Notional Amounts 1 Other Assets September 30, December 31, September 30, December 31, 2017 2016 2017 2016 $ 22,266 $ 23,156 $ 30 $ 77 (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. The derivative gains and losses in the consolidated statements of income related to the Company's interest rate swap contracts were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Effective portion recognized in other comprehensive income, pretax: Interest rate swap $ (7 ) $ (67 ) $ (47 ) $ 172 Effective portion reclassified from other comprehensive income to interest expense, pretax: Interest rate swap — (8 ) — (8 ) Ineffective portion recognized in income: Interest rate swap — — — —

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company's financial instruments consist of cash equivalents, short-term investments, accounts receivable, auction rate securities, accounts payable, drawings on revolving lines of credit, long-term debt, contingent purchase consideration and interest rate swaps. The valuation techniques used to measure fair value are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying amounts of cash equivalents, short-term investments, accounts receivable, accounts payable, drawings on revolving lines of credit, the long-term notes and interest rate swaps are considered reasonable estimates of their fair market value, due to the short maturity of most of these instruments or as a result of the competitive market interest rates, which have been negotiated. The following table presents information about the Company's assets and liabilities measured at fair value: Fair Value Measurements at September 30, 2017 Total Level 1 Level 2 Level 3 Assets Cash equivalents $ 447,555 $ 447,555 $ — $ — Short-term investments 165,602 165,602 — — Interest rate swap 30 — 30 — Auction rate securities 1,012 — — 1,012 Total assets $ 614,199 $ 613,157 $ 30 $ 1,012 Liabilities Long-term notes $ 49,848 $ — $ 49,848 $ — Total liabilities $ 49,848 $ — $ 49,848 $ — Fair Value Measurements at December 31, 2016 Total Level 1 Level 2 Level 3 Assets Cash equivalents $ 179,699 $ 179,699 $ — $ — Short-term investments 206,616 206,616 — — Interest rate swap 77 — 77 — Auction rate securities 1,144 — — 1,144 Total assets $ 387,536 $ 386,315 $ 77 $ 1,144 Liabilities Long-term notes $ 41,351 $ — $ 41,351 $ — Total liabilities $ 41,351 $ — $ 41,351 $ — Short-term investments consist of liquid investments including U.S. government and government agency notes, corporate notes, commercial paper and certificates of deposit with original maturities of greater than three months but less than one year and are recorded at amortized cost. The fair value of the short-term investments considered available-for-sale as of December 31, 2016 was $41,591 . This amount included an unrealized loss of $432 . There were no short-term investments considered available-for-sale as of September 30, 2017 . The fair value of the short-term investments considered held-to-maturity as of September 30, 2017 and December 31, 2016 was $165,602 and $165,025 , respectively, which represents an unrealized loss of $53 and $163 , respectively, as compared to the book value recorded on the Consolidated Balance Sheets for the same periods. The fair value of the auction rate securities considered prices observed in inactive secondary markets for the securities held by the Company. The fair value of accrued contingent purchase consideration incurred was determined using an income approach at the acquisition date and reporting date. That approach is based on significant inputs that are not observable in the market. Key assumptions include assessing the probability of meeting certain milestones required to earn the contingent purchase consideration. The following table presents information about the Company's movement in Level 3 assets and liabilities measured at fair value: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Auction Rate Securities Balance, beginning of period $ 1,148 $ 1,140 $ 1,144 $ 1,136 Period transactions (138 ) — (138 ) — Change in fair value and accretion 2 2 6 6 Balance, end of period $ 1,012 $ 1,142 $ 1,012 $ 1,142 Contingent Purchase Consideration Balance, beginning of period $ — $ 20 $ — $ 20 Change in fair value and currency fluctuations — 1 — 1 Balance, end of period $ — $ 21 $ — $ 21

Goodwill And Intangibles

Goodwill And Intangibles	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	GOODWILL AND INTANGIBLES The following table sets forth the changes in the carrying amount of goodwill for the nine months ended September 30, 2017 : Amounts Balance at January 1 $ 19,828 Total goodwill arising from acquisitions 31,315 Foreign exchange adjustment — Balance at September 30 $ 51,143 Intangible assets, subject to amortization, consisted of the following: September 30, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted- Average Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted- Average Lives Patents $ 8,114 $ (5,191 ) $ 2,923 8 Years $ 8,114 $ (4,926 ) $ 3,188 7 Years Customer relationships 25,718 (4,992 ) 20,726 11 Years 12,727 (3,621 ) 9,106 9 Years Production know-how 6,797 (4,816 ) 1,981 8 Years 6,618 (4,093 ) 2,525 8 Years Technology, trademark and tradename 30,026 (5,987 ) 24,039 8 Years 17,910 (3,940 ) 13,970 8 Years $ 70,655 $ (20,986 ) $ 49,669 $ 45,369 $ (16,580 ) $ 28,789 Amortization expense for the three months ended September 30, 2017 and 2016 was $1,725 and $1,252 , respectively. Amortization expense for the nine months ended September 30, 2017 and 2016 was $3,958 and $2,696 , respectively. The estimated future amortization expense for intangibles for the remainder of 2017 and subsequent years is as follows: 2017 2018 2019 2020 2021 Thereafter Total $1,713 $6,786 $6,737 $6,108 $5,934 $22,391 $49,669 During the third quarter of 2017, the Company acquired 100% of the membership units of Innovative Laser Technologies, LLC ("ILT"). ILT is a Minneapolis, Minnesota based company, which produces high precision laser-based systems for the medical device industry and other end user markets. The Company paid $40,256 to acquire ILT, which represents the fair value on that date. As a result of the acquisition, the Company recorded intangible assets of $11,660 related to customer relationships and $7,480 related to technology, trademark and tradename. Any excess of the acquisition consideration over the fair value of assets acquired and liabilities assumed is allocated to goodwill, which amounted to $22,415 . The majority of goodwill arising from this acquisition will not be deductible for tax purposes. During the second quarter of 2017, the Company acquired 100% of the shares of OptiGrate Corporation ("OptiGrate"). OptiGrate is located in Oviedo, Florida. OptiGrate is a developer and manufacturer of volume Bragg gratings used in the production of lasers and laser diodes. The Company paid $16,870 to acquire OptiGrate, which represents the fair value on that date. Of the purchase price, $1,849 was held back in escrow for potential post-closing adjustments related to working capital and indemnities provided by the sellers. As a result of the acquisition, the Company recorded intangible assets of $1,010 related to customer relationships and $4,650 related to technology, trademark and tradename. Any excess of the acquisition consideration over the fair value of assets acquired and liabilities assumed is allocated to goodwill, which amounted to $8,900 . The goodwill arising from this acquisition will not be deductible for tax purposes.

Product Warranties

Product Warranties	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Product Warranties	PRODUCT WARRANTIES The Company typically provides one to three -year parts and service warranties on lasers and amplifiers. Most of the Company's sales offices provide support to customers in their respective geographic areas. Warranty reserves have generally been sufficient to cover product warranty repair and replacement costs. The following table summarizes product warranty accrual activity recorded during the nine months ended September 30, 2017 and 2016 . 2017 2016 Balance at January 1 $ 33,978 $ 28,210 Provision for warranty accrual 20,284 16,098 Warranty claims (11,746 ) (12,273 ) Foreign currency translation 2,459 643 Balance at September 30 $ 44,975 $ 32,678 Accrued warranty reported in the accompanying consolidated financial statements as of September 30, 2017 and December 31, 2016 consisted of $20,344 and $15,711 in accrued expenses and other liabilities and $24,631 and $18,267 in other long-term liabilities, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES A reconciliation of the total amounts of unrecognized tax benefits is as follows: 2017 2016 Balance at January 1 $ 6,403 $ 7,579 Change in prior period positions (2,240 ) (1,876 ) Change for tax positions in current period 1,500 — Balance at September 30 $ 5,663 $ 5,703 Substantially all of the liability for uncertain tax benefits related to various federal, state and foreign income tax matters, would benefit the Company's effective tax rate, if recognized.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES From time to time, the Company may be involved in disputes and legal proceedings in the ordinary course of its business. These proceedings may include allegations of infringement of intellectual property, commercial disputes and employment matters. As of September 30, 2017 and through the filing date of these Financial Statements, the Company has no legal proceedings ongoing that management estimates could have a material effect on the Company's Consolidated Financial Statements.

Long-Lived Assets

Long-Lived Assets	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Long-Lived Assets	LONG-LIVED ASSETS Long-lived assets, which consist primarily of property, plant and equipment, are reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If undiscounted expected future cash flows are less than the carrying value, an impairment loss is recorded equal to the amount by which the carrying value exceeds the fair value of assets. In the fourth quarter of 2016, the Company began assessing the possible sale of its corporate aircraft included within Property, Plant and Equipment, net in its Consolidated Balance Sheets. As a result of this assessment and certain market indications of the aircraft's value if sold, the Company prepared an updated impairment analysis of the carrying value of the aircraft as of March 31, 2017. The impairment analysis was probability weighted considering market data available, future cash flows and whether or not the Company would sell the aircraft. Based on that analysis the Company recorded a $162 impairment loss included in general and administrative expense in its Consolidated Statements of Income for the nine months ended September 30, 2017 . There were no impairment losses recorded by the Company for the nine months ended September 30, 2016 . The corporate aircraft was sold during the three months ended June 30, 2017.

Recent Accounting Pronounceme21

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). ASU 2014-09 supersedes the revenue recognition requirements in "Revenue Recognition (Topic 605)" and requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14 "Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date," which defers the effective date of ASU 2014-09 one year to interim and annual reporting periods beginning after December 15, 2017, which would be the Company's fiscal year ending December 31, 2018. In May 2016, the FASB also issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," to provide additional clarification of accounting for collections of sales taxes as well as recognition of revenue (i) associated with contract modifications, (ii) for noncash consideration, and (iii) based on the collectability of the consideration from the customer. The guidance also specifies when a contract should be considered "completed" for purposes of applying the transition guidance. The Company has completed its assessment of the new guidance and is in the process of training finance and sales personnel, updating corporate policies, and modifying reporting packages to support the new disclosure requirements. The Company does not expect the standard will have a material impact on the amount and timing of revenue recognized in its consolidated financial statements and has elected to use the modified retrospective application approach for transition to the new standard. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350)" ("ASU 2017-04"). ASU 2017-04 simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. ASU 2017-04 is effective for public companies for annual reporting periods beginning after December 15, 2020, and interim reporting periods within such period. The amendments should be applied prospectively on or after the effective date and require a disclosure as to the nature of and reason for the change in accounting principle upon transition. Early adoption is allowed for all entities as of January 1, 2017, for annual and any interim impairment tests occurring after January 1, 2017. The Company is currently evaluating the potential impact that the standard will have on its consolidated financial statements upon adoption. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). ASU 2016-02 requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than twelve months. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. The Company is continuing to evaluate the standard but does not expect that it will have a material effect on its consolidated financial statements upon adoption. In October 2016, the FASB issued ASU No. 2016-16, "Income Taxes (Topic 740) - Intra-Entity Transfers of Assets other than Inventory" ("ASU 2016-16"). ASU 2016-16 eliminates the current exception that prohibits the recognition of current and deferred income tax consequences for intra-entity asset transfers (other than inventory) until the asset has been sold to an outside party. The amendments will be applied on a modified retrospective basis through a cumulative effect adjustment to retained earnings. Deferred tax assets should be assessed to determine if realizable. Disclosures will be required for the (i) reason for and notice of change, (ii) effect of change on income from continuing operations and (iii) cumulative effect of change on retained earnings. Public entities will apply these changes in annual reporting periods beginning after December 15, 2017, and interim reporting periods within such period. Early adoption is permitted. The Company is continuing to evaluate the standard but does not expect that it will have a material effect on its consolidated financial statements upon adoption.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: September 30, December 31, 2017 2016 Components and raw materials $ 131,920 $ 93,284 Work-in-process 35,097 44,723 Finished components and devices 115,478 101,003 Total $ 282,495 $ 239,010

Accrued Expenses And Other Li23

Accrued Expenses And Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Components of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: September 30, December 31, 2017 2016 Accrued compensation $ 60,544 $ 43,761 Customer deposits and deferred revenue 43,425 34,571 Current portion of accrued warranty 20,344 15,711 Other 9,971 8,442 Total $ 134,284 $ 102,485

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Borrowings Under Existing Financing Arrangements	The Company's borrowings under existing financing arrangements consist of the following: September 30, December 31, 2017 2016 Term debt: Long-term notes $ 49,872 $ 40,823 Less: current portion (3,576 ) (3,188 ) Total long-term debt $ 46,296 $ 37,635

Net Income Attributable To IP25

Net Income Attributable To IPG Photonics Corporation Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Computation of Diluted Net Income Per Share	The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per share: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net income attributable to IPG Photonics Corporation $ 115,597 $ 69,235 $ 294,658 $ 185,620 Weighted average shares 53,440 53,071 53,453 53,039 Dilutive effect of common stock equivalents 1,258 690 1,117 713 Diluted weighted average common shares 54,698 53,761 54,570 53,752 Basic net income attributable to IPG Photonics Corporation per share $ 2.16 $ 1.30 $ 5.51 $ 3.50 Diluted net income attributable to IPG Photonics Corporation per share $ 2.11 $ 1.29 $ 5.40 $ 3.45

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Cash Flow Hedges	The fair value amounts in the consolidated balance sheet related to the interest rate swap were: Notional Amounts 1 Other Assets September 30, December 31, September 30, December 31, 2017 2016 2017 2016 $ 22,266 $ 23,156 $ 30 $ 77 (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Derivative Gains (Losses) In The Consolidated Statements Of Income Related To Interest Rate Swap Contracts	The derivative gains and losses in the consolidated statements of income related to the Company's interest rate swap contracts were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Effective portion recognized in other comprehensive income, pretax: Interest rate swap $ (7 ) $ (67 ) $ (47 ) $ 172 Effective portion reclassified from other comprehensive income to interest expense, pretax: Interest rate swap — (8 ) — (8 ) Ineffective portion recognized in income: Interest rate swap — — — —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Assets And Liabilities Measured At Fair Value	The following table presents information about the Company's assets and liabilities measured at fair value: Fair Value Measurements at September 30, 2017 Total Level 1 Level 2 Level 3 Assets Cash equivalents $ 447,555 $ 447,555 $ — $ — Short-term investments 165,602 165,602 — — Interest rate swap 30 — 30 — Auction rate securities 1,012 — — 1,012 Total assets $ 614,199 $ 613,157 $ 30 $ 1,012 Liabilities Long-term notes $ 49,848 $ — $ 49,848 $ — Total liabilities $ 49,848 $ — $ 49,848 $ — Fair Value Measurements at December 31, 2016 Total Level 1 Level 2 Level 3 Assets Cash equivalents $ 179,699 $ 179,699 $ — $ — Short-term investments 206,616 206,616 — — Interest rate swap 77 — 77 — Auction rate securities 1,144 — — 1,144 Total assets $ 387,536 $ 386,315 $ 77 $ 1,144 Liabilities Long-term notes $ 41,351 $ — $ 41,351 $ — Total liabilities $ 41,351 $ — $ 41,351 $ —
Fair Value, Assets Measured on Recurring Basis	The following table presents information about the Company's movement in Level 3 assets and liabilities measured at fair value: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Auction Rate Securities Balance, beginning of period $ 1,148 $ 1,140 $ 1,144 $ 1,136 Period transactions (138 ) — (138 ) — Change in fair value and accretion 2 2 6 6 Balance, end of period $ 1,012 $ 1,142 $ 1,012 $ 1,142 Contingent Purchase Consideration Balance, beginning of period $ — $ 20 $ — $ 20 Change in fair value and currency fluctuations — 1 — 1 Balance, end of period $ — $ 21 $ — $ 21
Fair Value, Liabilities Measured on Recurring Basis	The following table presents information about the Company's movement in Level 3 assets and liabilities measured at fair value: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Auction Rate Securities Balance, beginning of period $ 1,148 $ 1,140 $ 1,144 $ 1,136 Period transactions (138 ) — (138 ) — Change in fair value and accretion 2 2 6 6 Balance, end of period $ 1,012 $ 1,142 $ 1,012 $ 1,142 Contingent Purchase Consideration Balance, beginning of period $ — $ 20 $ — $ 20 Change in fair value and currency fluctuations — 1 — 1 Balance, end of period $ — $ 21 $ — $ 21

Goodwill And Intangibles (Table

Goodwill And Intangibles (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table sets forth the changes in the carrying amount of goodwill for the nine months ended September 30, 2017 : Amounts Balance at January 1 $ 19,828 Total goodwill arising from acquisitions 31,315 Foreign exchange adjustment — Balance at September 30 $ 51,143
Schedule of Intangible Assets	Intangible assets, subject to amortization, consisted of the following: September 30, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted- Average Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted- Average Lives Patents $ 8,114 $ (5,191 ) $ 2,923 8 Years $ 8,114 $ (4,926 ) $ 3,188 7 Years Customer relationships 25,718 (4,992 ) 20,726 11 Years 12,727 (3,621 ) 9,106 9 Years Production know-how 6,797 (4,816 ) 1,981 8 Years 6,618 (4,093 ) 2,525 8 Years Technology, trademark and tradename 30,026 (5,987 ) 24,039 8 Years 17,910 (3,940 ) 13,970 8 Years $ 70,655 $ (20,986 ) $ 49,669 $ 45,369 $ (16,580 ) $ 28,789
Estimated Future Amortization Expense For Intangibles	The estimated future amortization expense for intangibles for the remainder of 2017 and subsequent years is as follows: 2017 2018 2019 2020 2021 Thereafter Total $1,713 $6,786 $6,737 $6,108 $5,934 $22,391 $49,669

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Summary of Product Warranty Activity	The following table summarizes product warranty accrual activity recorded during the nine months ended September 30, 2017 and 2016 . 2017 2016 Balance at January 1 $ 33,978 $ 28,210 Provision for warranty accrual 20,284 16,098 Warranty claims (11,746 ) (12,273 ) Foreign currency translation 2,459 643 Balance at September 30 $ 44,975 $ 32,678

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of Unrecognized Tax Benefits	A reconciliation of the total amounts of unrecognized tax benefits is as follows: 2017 2016 Balance at January 1 $ 6,403 $ 7,579 Change in prior period positions (2,240 ) (1,876 ) Change for tax positions in current period 1,500 — Balance at September 30 $ 5,663 $ 5,703

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Components and raw materials	$ 131,920	$ 93,284
Work-in-process	35,097	44,723
Finished components and devices	115,478	101,003
Total	$ 282,495	$ 239,010

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventory provisions	$ 4,033	$ 6,518	$ 13,439	$ 16,243

Accrued Expenses And Other Li33

Accrued Expenses And Other Liabilities (Components Of Accrued Expenses And Other Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued compensation	$ 60,544	$ 43,761
Customer deposits and deferred revenue	43,425	34,571
Current portion of accrued warranty	20,344	15,711
Other	9,971	8,442
Total	$ 134,284	$ 102,485

Financing Arrangements (Borrowi

Financing Arrangements (Borrowings Under Existing Financing Arrangements) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Term debt:
Less: current portion	$ (3,576)	$ (3,188)
Total long-term debt	46,296	37,635
Long-term notes
Term debt:
Long-term notes	$ 49,872	$ 40,823

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)note	May 31, 2023USD ($)	Jul. 31, 2022USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Number of long-term notes | note	2
Total unused credit lines and overdraft facilities	$ 110,333,000
Unsecured Debt | Scenario, Forecast
Debt Instrument [Line Items]
Amount due on long-term note		$ 15,438,000
Unsecured Debt | Interest rate swap
Debt Instrument [Line Items]
Fixed interest rate swap	2.85%
Unsecured Debt | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate	1.20%
Secured Debt
Debt Instrument [Line Items]
Amount due on long-term note	$ 27,606,000
Current portion of long-term note	$ 2,388,000
Fixed interest rate	2.74%
Secured Debt | Scenario, Forecast
Debt Instrument [Line Items]
Amount due on long-term note			$ 15,375,000
Long-term notes
Debt Instrument [Line Items]
Amount due on long-term note	$ 49,872,000
Current portion of long-term note	3,576,000
Long-term notes | Unsecured Debt
Debt Instrument [Line Items]
Amount due on long-term note	22,266,000
Current portion of long-term note	1,188,000
U.S. line-of-credit
Debt Instrument [Line Items]
Line of credit	0			$ 0
Guarantees issued	109,000			161,000
Euro line-of-credit
Debt Instrument [Line Items]
Line of credit	0			0
Guarantees issued	$ 985,000			$ 11,999,000

Net Income Attributable To IP36

Net Income Attributable To IPG Photonics Corporation Per Share (Computation of Diluted Net Income) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income attributable to IPG Photonics Corporation	$ 115,597	$ 69,235	$ 294,658	$ 185,620
Weighted average shares (in shares)	53,440	53,071	53,453	53,039
Dilutive effect of common stock equivalents (in shares)	1,258	690	1,117	713
Diluted weighted average common shares (in shares)	54,698	53,761	54,570	53,752
Basic net income attributable to IPG Photonics Corporation per share (in dollars per share)	$ 2.16	$ 1.30	$ 5.51	$ 3.50
Diluted net income attributable to IPG Photonics Corporation per share (in dollars per share)	$ 2.11	$ 1.29	$ 5.40	$ 3.45

Net Income Attributable to IP37

Net Income Attributable to IPG Photonics Corporation Per Share (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jul. 28, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares (in shares)	8,800	52,100	53,600	80,600
Share repurchase amount (no more than)					$ 100,000
Stock repurchased during period (in shares)	17,328		215,860
Stock repurchase average price (in dollars per share)	$ 161.55		$ 124.67
Decrease in weighted average shares outstanding, treasury stock (in shares)	9,964	6,090	136,184	2,044
Accounting Standards Update 2016-09
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excess tax benefit	$ 3,361,000		$ 10,885,000
Increase in diluted weighted shares outstanding (in shares)	317,835		256,938
Restricted Stock Units, RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares (in shares)	3,800	2,500	14,900	20,900
Stock Options | Non-qualified Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares (in shares)	5,000	49,600	35,900	56,400
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares (in shares)			2,800	3,300

Derivative Financial Instrume38

Derivative Financial Instruments (Narrative) (Details)	Sep. 30, 2017USD ($)
Nondesignated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amounts	$ 0

Derivative Financial Instrume39

Derivative Financial Instruments (Fair Value Of Cash Flow Hedges) (Details) - Interest rate swap - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Notional amounts	$ 22,266	$ 23,156
Other Assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 30	$ 77

Derivative Financial Instrume40

Derivative Financial Instruments (Derivative Gains (Losses) In The Consolidated Statements Of Income Related To Interest Rate Swap Contracts) (Details) - Interest rate swap - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion recognized in other comprehensive income, pretax	$ (7)	$ (67)	$ (47)	$ 172
Effective portion reclassified from other comprehensive income to interest expense, pretax	0	(8)	0	(8)
Ineffective portion recognized in income	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements (Assets

Fair Value Measurements (Assets And Liabilities Measured At Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 614,199	$ 387,536
Liabilities	49,848	41,351
Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	447,555	179,699
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	165,602	206,616
Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	30	77
Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,012	1,144
Long-term notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	49,848	41,351
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	613,157	386,315
Liabilities	0	0
Level 1 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	447,555	179,699
Level 1 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	165,602	206,616
Level 1 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Long-term notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	30	77
Liabilities	49,848	41,351
Level 2 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 2 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 2 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	30	77
Level 2 | Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 2 | Long-term notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	49,848	41,351
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,012	1,144
Liabilities	0	0
Level 3 | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,012	1,144
Level 3 | Long-term notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 614,199,000	$ 387,536,000
Unrealized loss, short-term investments considered available-for-sale		432,000
Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	165,602,000	206,616,000
Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	41,591,000
Held-to-maturity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss, investments	53,000	163,000
Held-to-maturity Securities | Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 165,602,000	$ 165,025,000

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Auction Rate Securities and Contingent Purchase Consideration) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Auction Rate Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 1,148	$ 1,140	$ 1,144	$ 1,136
Period transactions	(138)	0	(138)	0
Change in fair value and accretion	2	2	6	6
Balance, end of period	1,012	1,142	1,012	1,142
Contingent Purchase Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	0	20	0	20
Change in fair value and currency fluctuations	0	1	0	1
Balance, end of period	$ 0	$ 21	$ 0	$ 21

Goodwill And Intangibles (Sched

Goodwill And Intangibles (Schedule of Changes) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Roll Forward]
Balance at January 1	$ 19,828
Total goodwill arising from acquisitions	31,315
Foreign exchange adjustment	0
Balance at September 30	$ 51,143

Goodwill And Intangibles (Intan

Goodwill And Intangibles (Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 70,655	$ 45,369
Accumulated Amortization	(20,986)	(16,580)
Net Carrying Amount	49,669	28,789
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,114	8,114
Accumulated Amortization	(5,191)	(4,926)
Net Carrying Amount	$ 2,923	$ 3,188
Weighted- Average Lives	8 years	7 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 25,718	$ 12,727
Accumulated Amortization	(4,992)	(3,621)
Net Carrying Amount	$ 20,726	$ 9,106
Weighted- Average Lives	11 years	9 years
Production know-how
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,797	$ 6,618
Accumulated Amortization	(4,816)	(4,093)
Net Carrying Amount	$ 1,981	$ 2,525
Weighted- Average Lives	8 years	8 years
Technology, trademark and tradename
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 30,026	$ 17,910
Accumulated Amortization	(5,987)	(3,940)
Net Carrying Amount	$ 24,039	$ 13,970
Weighted- Average Lives	8 years	8 years

Goodwill And Intangibles (Narra

Goodwill And Intangibles (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Amortization expense	$ 1,725		$ 1,252		$ 3,958	$ 2,696
Intangible assets	49,669				49,669		$ 28,789
Goodwill arising from acquisition					31,315
Customer relationships
Business Acquisition [Line Items]
Intangible assets	20,726				20,726		9,106
Technology, trademark and tradename
Business Acquisition [Line Items]
Intangible assets	$ 24,039				$ 24,039		$ 13,970
ILT
Business Acquisition [Line Items]
Percentage of membership units acquired	100.00%				100.00%
Consideration transferred	$ 40,256
Goodwill arising from acquisition					$ 22,415
ILT | Customer relationships
Business Acquisition [Line Items]
Intangible assets	11,660				11,660
ILT | Technology, trademark and tradename
Business Acquisition [Line Items]
Intangible assets	$ 7,480				$ 7,480
OptiGrate
Business Acquisition [Line Items]
Percentage of membership units acquired		100.00%		100.00%
Consideration transferred		$ 16,870
Escrow, potential working capital and indemnity post-closing adjustments		1,849		$ 1,849
Goodwill arising from acquisition				8,900
OptiGrate | Customer relationships
Business Acquisition [Line Items]
Intangible assets		1,010		1,010
OptiGrate | Technology, trademark and tradename
Business Acquisition [Line Items]
Intangible assets		$ 4,650		$ 4,650

Goodwill And Intangibles (Estim

Goodwill And Intangibles (Estimated Future Amortization Expense For Intangibles) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 1,713
2,018	6,786
2,019	6,737
2,020	6,108
2,021	5,934
Thereafter	22,391
Net Carrying Amount	$ 49,669	$ 28,789

Product Warranties (Narrative)

Product Warranties (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Product Warranty Liability [Line Items]
Accrued warranty reported in accrued expenses and other liabilities	$ 20,344	$ 15,711
Accrued warranty reported in other long-term liabilities	$ 24,631	$ 18,267
Minimum
Product Warranty Liability [Line Items]
Service warranties on lasers and amplifiers	1 year
Maximum
Product Warranty Liability [Line Items]
Service warranties on lasers and amplifiers	3 years

Product Warranties (Summary Of

Product Warranties (Summary Of Product Warranty Activity) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at January 1	$ 33,978	$ 28,210
Provision for warranty accrual	20,284	16,098
Warranty claims	(11,746)	(12,273)
Foreign currency translation	2,459	643
Balance at September 30	$ 44,975	$ 32,678

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 6,403	$ 7,579
Change in prior period positions	(2,240)	(1,876)
Change for tax positions in current period	1,500	0
Balance at September 30	$ 5,663	$ 5,703

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details)	Sep. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Legal proceedings	$ 0

Long-Lived Assets (Narrative) (

Long-Lived Assets (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment
Long Lived Assets Held-for-sale [Line Items]
Impairment of long-lived assets	$ 162,000	$ 0