IPG Photonics (IPGP) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-33155
Entity Registrant Name	IPG PHOTONICS CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3444218
Entity Address, Address Line One	50 Old Webster Road
Entity Address, City or Town	Oxford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01540
City Area Code	508
Local Phone Number	373-1100
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	IPGP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		51,872,637
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001111928

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 642,517	$ 709,105
Short-term investments	774,161	805,400
Accounts receivable, net	257,464	262,121
Inventories	484,971	460,747
Prepaid income taxes	40,888	36,990
Prepaid expenses and other current assets	82,833	73,320
Total current assets	2,282,834	2,347,683
Deferred income taxes, net	49,942	47,761
Goodwill	39,741	38,609
Intangible assets, net	50,017	52,678
Property, plant and equipment, net	625,366	635,302
Other assets	50,569	48,507
Total assets	3,098,469	3,170,540
Current liabilities:
Current portion of long-term debt	17,459	18,126
Accounts payable	46,481	55,839
Accrued expenses and other current liabilities	203,579	230,826
Income taxes payable	12,317	8,642
Total current liabilities	279,836	313,433
Other long-term liabilities and deferred income taxes	94,650	93,855
Long-term debt, net of current portion	15,734	16,031
Total liabilities	390,220	423,319
Commitments and contingencies (Note 11)
IPG Photonics Corporation equity:
Common stock, $0.0001 par value, 175,000,000 shares authorized; 55,921,562 and 52,542,466 shares issued and outstanding, respectively, at March 31, 2022; 55,788,246 and 53,010,265 shares issued and outstanding, respectively, at December 31, 2021.	6	6
Treasury stock, at cost, 3,379,096 and 2,777,981 shares held at March 31, 2022 and December 31, 2021, respectively.	(517,260)	(438,503)
Additional paid-in capital	917,693	908,423
Retained earnings	2,536,179	2,466,607
Accumulated other comprehensive loss	(229,369)	(189,951)
Total IPG Photonics Corporation equity	2,707,249	2,746,582
Non-controlling interests	1,000	639
Total equity	2,708,249	2,747,221
Total liabilities and equity	$ 3,098,469	$ 3,170,540

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	55,921,562	55,788,246
Common stock, shares outstanding	52,542,466	53,010,265
Treasury stock (in shares)	3,379,096	2,777,981

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 369,979	$ 345,585
Cost of sales	198,158	181,594
Gross profit	171,821	163,991
Operating expenses:
Sales and marketing	20,374	18,883
Research and development	33,450	33,339
General and administrative	30,664	30,092
Gain on foreign exchange	(5,810)	(7,165)
Total operating expenses	78,678	75,149
Operating income	93,143	88,842
Other (expense) income, net:
Interest expense, net	(70)	(495)
Other (expense) income, net	(236)	253
Total other expense	(306)	(242)
Income before provision for income taxes	92,837	88,600
Provision for income taxes	23,209	20,378
Net income	69,628	68,222
Less: net income attributable to non-controlling interests	56	95
Net income attributable to IPG Photonics Corporation common stockholders	$ 69,572	$ 68,127
Net income attributable to IPG Photonics Corporation per common share:
Basic (in dollars per share)	$ 1.32	$ 1.27
Diluted (in dollars per share)	$ 1.31	$ 1.26
Weighted average common shares outstanding:
Basic (in shares)	52,809,654	53,541,270
Diluted (in shares)	53,099,539	54,201,182

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 69,628	$ 68,222
Other comprehensive income, net of tax:
Foreign currency translation adjustments and other	(39,326)	(32,479)
Unrealized gain on derivatives	213	68
Total other comprehensive loss	(39,113)	(32,411)
Comprehensive income	30,515	35,811
Less: comprehensive income (loss) attributable to non-controlling interests	361	(124)
Comprehensive income attributable to IPG Photonics Corporation	$ 30,154	$ 35,935

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 69,628	$ 68,222
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,435	23,819
Deferred income taxes	(3,397)	3,944
Stock-based compensation	9,994	8,815
Unrealized gain on foreign currency transactions	(2,393)	(7,800)
Other	2,368	1,462
Provisions for inventory, warranty and bad debt	16,142	16,685
Changes in assets and liabilities that provided (used) cash, net of acquisitions:
Accounts receivable	2,621	7,360
Inventories	(50,951)	(20,084)
Prepaid expenses and other assets	3,052	(1,052)
Accounts payable	(8,448)	18,980
Accrued expenses and other liabilities	(31,448)	(17,961)
Income and other taxes payable	(14,180)	(14,847)
Net cash provided by operating activities	16,423	87,543
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment	(25,177)	(27,421)
Proceeds from sales of property, plant and equipment	428	130
Purchases of short-term investments	(475,435)	(513,564)
Proceeds from short-term investments	505,818	480,163
Acquisitions of businesses, net of cash acquired	(2,000)	0
Other	(1,164)	(2)
Net cash provided by (used in) investing activities	2,470	(60,694)
Cash flows from financing activities:
Principal payments on long-term borrowings	(964)	(946)
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	(724)
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		4,981
Purchase of treasury stock, at cost	(78,757)	(3,048)
Payment of purchase price holdback from business combination	0	(2,624)
Net cash used in financing activities	(80,445)	(1,637)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(5,036)	(7,024)
Net (decrease) increase in cash, cash equivalents and restricted cash	(66,588)	18,188
Cash, cash equivalents and restricted cash — Beginning of period	709,105	878,553
Cash and cash equivalents — End of period	642,517	896,741
Supplemental disclosure of cash flow information:
Cash paid for interest	857	703
Cash paid for income taxes	25,423	21,340
Non-cash transactions:
Demonstration units transferred from inventory to other assets	917	1,109
Inventory transferred to machinery and equipment	780	727
Changes in accounts payable related to property, plant and equipment	(646)	863
Leased assets obtained in exchange for new operating lease liabilities	$ 4,229	$ 409

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Non- controlling Interest
Balance, beginning of year (in shares) at Dec. 31, 2020		53,427,234	2,034,012
Balance, beginning of period at Dec. 31, 2020	$ 2,594,111	$ 6	$ (303,614)	$ 854,301	$ 2,188,191	$ (146,065)	$ 1,292
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and vesting of RSU's and PSU's (in shares)		211,537
Exercise of stock options and vesting of RSUs and PSUs	4,981			4,981
Purchased common stock (in shares)		(14,906)	(14,906)
Purchased common stock	(3,048)		$ (3,048)
Stock-based compensation	8,815			8,815
Net income	68,222				68,127		95
Foreign currency translation adjustments and other	(32,479)					(32,260)	(219)
Unrealized gain (loss) on derivatives, net of tax	68					68
Balance, end of period (in shares) at Mar. 31, 2021		53,623,865	2,048,918
Balance, end of period at Mar. 31, 2021	2,640,670	$ 6	$ (306,662)	868,097	2,256,318	(178,257)	1,168
Balance, beginning of year (in shares) at Dec. 31, 2021		53,010,265	2,777,981
Balance, beginning of period at Dec. 31, 2021	2,747,221	$ 6	$ (438,503)	908,423	2,466,607	(189,951)	639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and vesting of RSU's and PSU's (in shares)		133,316
Exercise of stock options and vesting of RSUs and PSUs	(724)			(724)
Purchased common stock (in shares)		(601,115)	(601,115)
Purchased common stock	(78,757)		$ (78,757)
Stock-based compensation	9,994			9,994
Net income	69,628				69,572		56
Foreign currency translation adjustments and other	(39,326)					(39,631)	305
Unrealized gain (loss) on derivatives, net of tax	213					213
Balance, end of period (in shares) at Mar. 31, 2022		52,542,466	3,379,096
Balance, end of period at Mar. 31, 2022	$ 2,708,249	$ 6	$ (517,260)	$ (917,693)	$ 2,536,179	$ (229,369)	$ 1,000

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation — The accompanying unaudited condensed 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 condensed consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These condensed 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, 2021. In the opinion of the Company's management, the 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 condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. Accounts Receivable and Allowance for Doubtful Accounts — The Company maintains an allowance for doubtful accounts to provide for the estimated amount of accounts receivable that will not be collected. The allowance is based upon an estimate of expected credit losses over the life of outstanding receivables. The estimate involves an assessment of customer creditworthiness, historical payment experience, an assumption of future expected credit losses, and the age of outstanding receivables. Activity related to the allowance for doubtful accounts was as follows: Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 2,108 $ 2,156 Provision for bad debts, net of (recoveries) (146) 188 Uncollectable accounts written off (1) — Foreign currency translation (24) (37) Balance, end of period $ 1,937 $ 2,307 Comprehensive Income — Comprehensive income includes charges and credits to equity that are not the result of transactions with stockholders. Included within comprehensive income is the cumulative foreign currency translation adjustment and unrealized gains or losses on derivatives. These adjustments are accumulated within the consolidated statements of comprehensive income. Total components of accumulated other comprehensive loss were as follows: Foreign currency translation adjustments Unrealized (loss) gain on derivatives, net of tax Total Balance, January 1, 2022 $ (189,767) $ (184) $ (189,951) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments and other (39,631) (39,631) Unrealized gain on derivatives, net of tax expense of $66 213 213 Total other comprehensive (loss) income (39,631) 213 (39,418) Balance, March 31, 2022 $ (229,398) $ 29 $ (229,369) Balance, January 1, 2021 $ (145,603) $ (462) $ (146,065) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments and other (32,260) (32,260) Unrealized gain on derivatives, net of tax expense of $21 68 68 Total other comprehensive (loss) income (32,260) 68 (32,192) Balance, March 31, 2021 $ (177,863) $ (394) $ (178,257) Subsequent Events — The Company has considered the impact of subsequent events through the filing date of these financial statements. There were no events through the filing date of these financial statements required to be disclosed.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS Sales are derived from products for different applications: fiber lasers, diode lasers, systems and accessories for materials processing; fiber lasers, diodes and amplifiers for advanced applications; fiber amplifiers and transceivers for communications applications; and fiber lasers, systems and fibers for medical applications. The following tables represent a disaggregation of revenue from contracts with customers: Three Months Ended March 31, 2022 2021 Sales by Application Materials processing $ 338,963 $ 317,241 Other applications 31,016 28,344 Total $ 369,979 $ 345,585 Sales by Product High Power Continuous Wave ("CW") Lasers $ 167,691 $ 170,482 Medium Power CW Lasers 23,668 15,882 Pulsed Lasers 66,932 55,395 Quasi-Continuous Wave ("QCW") Lasers 12,780 13,666 Laser and Non-Laser Systems 34,597 27,116 Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue 64,311 63,044 Total $ 369,979 $ 345,585 Three Months Ended March 31, 2022 2021 Sales by Geography North America $ 77,225 $ 73,384 Europe: Germany 27,417 26,260 Other including Eastern Europe/CIS 80,000 58,593 Asia and Australia: China 129,748 139,833 Japan 12,886 10,877 Other 38,675 33,110 Rest of World 4,028 3,528 Total $ 369,979 $ 345,585 Timing of Revenue Recognition Goods and services transferred at a point in time $ 355,415 $ 332,532 Goods and services transferred over time 14,564 13,053 Total $ 369,979 $ 345,585 One of the Company's customers accounted for 22% of the Company's net accounts receivable as of both March 31, 2022 and December 31, 2021. The Company enters into contracts to sell lasers and spare parts, for which revenue is generally recognized upon shipment or delivery, depending on the terms of the contract. The Company also provides installation services and extended warranties. The Company frequently receives consideration from a customer prior to transferring goods to the customer under the terms of a sales contract. The Company records customer deposits related to these prepayments, which represent a contract liability. The Company also records deferred revenue related to installation services when consideration is received before the services have been performed. The standalone selling price for installation services is determined based on the estimated number of days of service technician time required for installation at standard service rates. The Company recognizes customer deposits and deferred revenue as net sales after control of the goods or services has been transferred to the customer and all revenue recognition criteria are met. The Company bills customers for extended warranties upon entering into the agreement with the customer, resulting in deferred revenue that is recognized over the period of the extended warranty contract. The Company recognizes revenue over time on contracts for the sale of robotics systems. The timing of customer payments on these contracts generally differs from the timing of revenue recognized. If revenue recognized exceeds customer payments, a contract asset is recorded and if customer payments exceed revenue recognized, a contract liability is recorded. Contract assets are included within prepaid expense and other current assets on the condensed consolidated balance sheets. Contract liabilities are included within accrued expenses and other current liabilities on the condensed consolidated balance sheets. Certain deferred revenues related to extended warranties in excess one year from the balance sheet date are included within other long-term liabilities and deferred income taxes on the condensed consolidated balance sheets. The following table reflects the changes in the Company's contract assets and liabilities for the three months ended March 31, 2022 and 2021: March 31, December 31, March 31, December 31, 2022 2021 Change 2021 2020 Change Contract assets Contract assets $ 9,842 $ 9,345 $ 497 $ 7,670 $ 8,999 $ (1,329) Contract liabilities Contract liabilities - current 94,418 89,659 4,759 69,526 71,246 (1,720) Contract liabilities - long-term 2,770 2,691 79 2,549 2,189 360 During the three months ended March 31, 2022 and 2021 the Company recognized revenue of $21,024 and $30,378, respectively, that was included in contract liabilities at the beginning of each period. The Company has elected the practical expedient in ASC 606-10-50-14, whereby the performance obligations for contracts with an original expected duration of one year or less are not disclosed. The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of March 31, 2022: Remaining Performance Obligations 2022 (a) 2023 2024 2025 2026 Thereafter Total Revenue expected to be recognized for extended warranty agreements $ 3,030 $ 1,448 $ 992 $ 603 $ 166 $ 71 $ 6,310 Revenue to be earned over time from contracts to sell robotic systems 18,834 10,775 — — — — 29,609 Total $ 21,864 $ 12,223 $ 992 $ 603 $ 166 $ 71 $ 35,919 (a) For the nine-month period beginning April 1, 2022.

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
RESTRICTED CASH	RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows. March 31, December 31, 2022 2021 2021 2020 Cash and cash equivalents $ 642,517 $ 896,741 $ 709,105 $ 876,231 Restricted cash included in prepaid expenses and other current assets — — — 2,322 Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows $ 642,517 $ 896,741 $ 709,105 $ 878,553

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company's financial instruments consist of cash equivalents, short-term investments, accounts receivable, accounts payable, drawings on revolving lines of credit, long-term debt, interest rate swaps and contingent purchase consideration. 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 Company classifies its financial instruments according to the prescribed criteria. The carrying amounts of money market fund deposits, term deposits, accounts receivable, accounts payable and drawings on revolving lines of credit 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 fair value of the Company's bond securities is based upon quoted prices for instruments with identical terms in active markets. The Company's commercial paper securities reported at fair value are based upon model-driven valuations in which all significant inputs are observable or can be derived from or corroborated by observable market data for substantially the full term of the asset or liability, and are therefore classified as Level 2. The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the condensed consolidated balance sheets with the exception of the interest rate swap and contingent purchase consideration, which are measured at fair value: Fair Value Measurements at March 31, 2022 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits and term deposits $ 183,749 $ 183,749 $ — $ — Commercial paper 170,251 — 170,251 — Corporate bonds 4,518 — 4,518 — Municipal bonds 3,122 — 3,122 — Short-term investments: Commercial paper 468,493 — 468,493 — Corporate bonds 182,898 — 182,898 — Municipal bonds 22,125 — 22,125 — Certificates of deposit 3,004 — 3,004 — U.S. Treasury and agency obligations 95,007 — 95,007 — Foreign government bonds 2,003 — 2,003 — Other assets: Interest rate swap 37 — 37 — Total $ 1,135,207 $ 183,749 $ 951,458 $ — Liabilities Term notes $ 33,162 $ — $ 33,162 $ — Contingent purchase consideration 1,615 — — 1,615 Total $ 34,777 $ — $ 33,162 $ 1,615 Fair Value Measurements at December 31, 2021 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits and term deposits $ 279,066 $ 279,066 $ — $ — Commercial paper 117,663 — 117,663 — Corporate bonds 11,459 — 11,459 — Municipal bonds 3,220 — 3,220 — Short-term investments: Commercial paper 557,955 — 557,955 — Corporate bonds 215,754 — 215,754 — U.S. Treasury and agency obligations 21,980 — 21,980 — Municipal bonds 4,546 — 4,546 — Certificate of deposit 3,000 — 3,000 — Foreign government bonds 2,015 — 2,015 — Total $ 1,216,658 $ 279,066 $ 937,592 $ — Liabilities Term notes $ 34,226 $ — $ 34,226 $ — Contingent purchase consideration 1,371 — — 1,371 Interest rate swap 242 — 242 — Total $ 35,839 $ — $ 34,468 $ 1,371 Short-term investments consist of liquid investments with original maturities of greater than three months but less than one year and are recorded at amortized cost. There were no impairments for the investments considered held-to-maturity during the quarters ended March 31, 2022 and 2021. There were no current expected credit loss allowances for the investments considered held-to-maturity at March 31, 2022 and 2021. The Company holds highly-rated held-to-maturity instruments that are within one year of maturity. The following table presents the effective maturity dates of debt investments, which are held-to-maturity: March 31, 2022 December 31, 2021 Book Value Fair Value Book Value Fair Value Investment maturity Less than 1 year $ 774,161 $ 773,530 $ 805,400 $ 805,250 The Company entered into an interest rate swap that is designated as a cash flow hedge 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 at March 31, 2022 for the interest rate swap considered pricing models whose inputs are observable for the securities held by the Company. At March 31, 2022 and December 31, 2021, the Company's long-term notes consisted of a variable rate note and a fixed rate note, and are reported at amortized cost on the condensed consolidated balance sheets. For disclosure purposes, the fair value of the long-term notes was estimated using a discounted cash flow model using observable market interest rates and is classified as Level 2. Based on the discounted cash flow model, the fair values of the long-term notes, including the current portion, at March 31, 2022 and December 31, 2021 were $33,162 and $34,226 respectively, as compared to the book value of $33,193 and $34,157, respectively. The fair values of contingent purchase consideration at March 31, 2022 and December 31, 2021 were determined using an income approach at the respective business combination date and at the reporting date. The approach is based on significant inputs that are not observable in the market and include key assumptions such as 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 March 31, 2022 2021 Contingent purchase consideration Balance, beginning of period $ 1,371 $ 1,963 Cash payments — (466) Foreign exchange adjustment 244 (154) Balance, end of period $ 1,615 $ 1,343

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following: March 31, December 31, 2022 2021 Components and raw materials $ 288,752 $ 270,146 Work-in-process 36,806 32,506 Finished goods 159,413 158,095 Total $ 484,971 $ 460,747 The Company recorded inventory provisions totaling $10,781 and $8,027 for the three months ended March 31, 2022 and 2021, 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, work-in-process and finished goods.

Goodwill and Intangibles

Goodwill and Intangibles	3 Months Ended
	Mar. 31, 2022
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: Three Months Ended March 31, 2022 2021 Balance at January 1 $ 38,609 $ 41,366 Goodwill arising from business combinations 1,000 — Adjustment to goodwill during measurement period — (2,205) Foreign exchange adjustment 132 (397) Balance at March 31 $ 39,741 $ 38,764 Intangible assets, subject to amortization, consisted of the following: March 31, 2022 December 31, 2021 Gross Carrying Amount Accumulated Net Weighted- Average Lives Gross Carrying Amount Accumulated Net Weighted- Customer relationships $ 60,025 $ (25,096) $ 34,929 10 years $ 59,729 $ (23,556) $ 36,173 10 years Technology, trademark and trade name 40,012 (27,051) 12,961 7 years 40,536 (26,269) 14,267 7 years Production know-how 10,564 (8,903) 1,661 7 years 10,384 (8,723) 1,661 7 years Patents 8,036 (7,570) 466 8 years 8,036 (7,459) 577 8 years Total $ 118,637 $ (68,620) $ 50,017 $ 118,685 $ (66,007) $ 52,678 Amortization expense for the three months ended March 31, 2022 and 2021 was $3,021 and $3,257, respectively. The estimated future amortization expense for intangibles for the remainder of 2022 and subsequent years is as follows: 2022 (a) 2023 2024 2025 2026 Thereafter Total $ 8,460 $ 10,590 8,165 $ 6,527 $ 4,791 $ 11,484 $ 50,017 (a) For the nine-month period beginning April 1, 2022.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: March 31, December 31, 2022 2021 Contract liabilities $ 94,418 $ 89,659 Accrued compensation 62,287 94,857 Current portion of accrued warranty 26,815 26,204 Short-term lease liabilities 5,808 5,454 Other 14,251 14,652 Total $ 203,579 $ 230,826

Product Warranties

Product Warranties	3 Months Ended
	Mar. 31, 2022
Product Warranties Disclosures [Abstract]
PRODUCT WARRANTIES	PRODUCT WARRANTIES The Company typically provides one Activity related to the warranty accrual was as follows: Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 49,864 $ 45,669 Provision for warranty accrual 5,071 8,403 Warranty claims (3,707) (7,446) Foreign currency translation (882) (1,382) Balance, end of period $ 50,346 $ 45,244 Accrued warranty reported in the accompanying condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 consisted of $26,815 and $26,204 in accrued expenses and other current liabilities, respectively, and $23,531 and $23,660 in other long-term liabilities and deferred income taxes, respectively.

Financing Arrangements

Financing Arrangements	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS The Company's borrowings under existing financing arrangements consist of the following: March 31, December 31, 2022 2021 Total debt $ 33,193 $ 34,157 Less: current portion (17,459) (18,126) Long-term debt, net of current portion $ 15,734 $ 16,031 Term Debt: At March 31, 2022, the Company has an unsecured long-term note with an outstanding principal balance of $16,922, of which, $1,188 is the current portion. The interest on this unsecured long-term note is variable at 1.20% above LIBOR and is fixed using an interest rate swap at 2.85% per annum. The unsecured long-term note matures in May 2023, at which time the outstanding principal balance will be $15,438. Also at March 31, 2022, the Company has another long-term note that is secured by its corporate aircraft with an outstanding principal balance of $16,271, all of which is current. The interest on this collateralized long-term note is fixed at 2.74% per annum. The collateralized long-term note matures in July 2022, at which time the outstanding principal balance will be $15,375. The future principal payments for the Company’s Notes as of March 31, 2022 are as follows: 2022 (a) $ 17,162 2023 16,031 Total $ 33,193 (a) For the nine-month period beginning April 1, 2022. Revolving Line of Credit Facilities:

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company's only outstanding derivative financial instrument is an interest rate swap that is classified as a cash flow hedge of its variable rate debt. The fair value amounts in the condensed consolidated balance sheets were: March 31, December 31, 2022 2021 Notional amounts (1) $ 16,922 $ 17,219 Fair values: Other assets $ 37 $ — Other long-term liabilities and deferred income taxes — 242 (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. The derivative gains and losses in the condensed consolidated financial statements related to the Company's current and previous interest rate swap contracts were as follows: Three Months Ended March 31, 2022 2021 Effective portion recognized in other comprehensive income, pretax: Interest rate swap $ 279 $ 89

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES From time to time, the Company may be involved in legal disputes and other proceedings in the ordinary course of its business. These matters may include allegations of infringement of intellectual property, commercial disputes and employment matters. As of March 31, 2022 and through the filing date of these condensed consolidated financial statements, the Company is aware of no ongoing legal proceedings that management estimates could have a material effect on the Company's Consolidated Financial Statements. We have submitted a number of voluntary self-disclosures regarding compliance with export control laws and regulations and the U.S. Department of Justice is conducting an investigation into certain shipments of equipment. At this time, we are not able to estimate the amount or probability of any monetary penalties or other expenses that we may incur as a result of this investigation.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rates were 25.0% and 23.0% for the three months ended March 31, 2022 and 2021, respectively. There were net discrete tax benefits of $252 and $4,288 for the three months ended March 31, 2022 and 2021, respectively, which were related in part to the tax deductions for equity-based compensation that were less than the compensation expense recognized for books in 2022 and exceeded compensation expense recognized for books in 2021. In 2022, the detriment for equity based compensation was more than offset by reductions in tax liability as a result of changes in tax position agreed to with tax authorities for prior year audits. The Company accounts for its uncertain tax positions in accordance with the accounting standards for income taxes. The Company classifies interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. The following is a summary of the activity of the Company’s unrecognized tax benefits for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 Balance at January 1, $ 19,209 $ 14,706 Change in prior period positions (249) — Additions for tax positions in current period 500 1,000 Foreign currency translation (541) (182) Balance at March 31, $ 18,919 $ 15,524

Net Income Attributable to IPG

Net Income Attributable to IPG Photonics Corporation Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE	NET INCOME ATTRIBUTABLE TO IPG PHOTONICS CORPORATION PER COMMON SHARE The following table sets forth the computation of diluted net income attributable to IPG Photonics Corporation per common share following the treasury stock method: Three Months Ended March 31, 2022 2021 Net income attributable to IPG Photonics Corporation common stockholders $ 69,572 $ 68,127 Basic weighted average common shares 52,809,654 53,541,270 Dilutive effect of common stock equivalents 289,885 659,912 Diluted weighted average common shares 53,099,539 54,201,182 Basic net income attributable to IPG Photonics Corporation per common share $ 1.32 $ 1.27 Diluted net income attributable to IPG Photonics Corporation per common share $ 1.31 $ 1.26 The computation of diluted weighted average common shares excludes common stock equivalents including non-qualified stock options, performance stock units ("PSUs"), restricted stock units ("RSUs") and employee stock purchase plan ("ESPP") because the effect of including them would be anti-dilutive. The weighted average anti-dilutive shares outstanding for the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 Non-qualified stock options 472,699 202,500 Restricted stock units 205,272 61,100 Performance stock units 31,560 13,800 Total weighed average anti-dilutive shares outstanding 709,531 277,400 On February 15, 2022, the Company announced that its Board of Directors has authorized the purchase of up to $200,000 of IPG common stock. This new authorization is in addition to the Company's existing stock repurchase program authorized in May 2020. Share repurchases may be made periodically in open-market transactions, and are subject to market conditions, legal requirements and other factors. The share repurchase program authorization does not obligate the Company to repurchase any dollar amount or number of its shares, and repurchases may be commenced or suspended from time to time without prior notice.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying unaudited condensed 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 condensed consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These condensed 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, 2021.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts — The Company maintains an allowance for doubtful accounts to provide for the estimated amount of accounts receivable that will not be collected. The allowance is based upon an estimate of expected credit losses over the life of outstanding receivables. The estimate involves an assessment of customer creditworthiness, historical payment experience, an assumption of future expected credit losses, and the age of outstanding receivables.
Subsequent Events	Subsequent Events — The Company has considered the impact of subsequent events through the filing date of these financial statements. There were no events through the filing date of these financial statements required to be disclosed.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Allowance for Doubtful Accounts	Activity related to the allowance for doubtful accounts was as follows: Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 2,108 $ 2,156 Provision for bad debts, net of (recoveries) (146) 188 Uncollectable accounts written off (1) — Foreign currency translation (24) (37) Balance, end of period $ 1,937 $ 2,307
Schedule of Accumulated Other Comprehensive Income (Loss)	Total components of accumulated other comprehensive loss were as follows: Foreign currency translation adjustments Unrealized (loss) gain on derivatives, net of tax Total Balance, January 1, 2022 $ (189,767) $ (184) $ (189,951) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments and other (39,631) (39,631) Unrealized gain on derivatives, net of tax expense of $66 213 213 Total other comprehensive (loss) income (39,631) 213 (39,418) Balance, March 31, 2022 $ (229,398) $ 29 $ (229,369) Balance, January 1, 2021 $ (145,603) $ (462) $ (146,065) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments and other (32,260) (32,260) Unrealized gain on derivatives, net of tax expense of $21 68 68 Total other comprehensive (loss) income (32,260) 68 (32,192) Balance, March 31, 2021 $ (177,863) $ (394) $ (178,257)

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables represent a disaggregation of revenue from contracts with customers: Three Months Ended March 31, 2022 2021 Sales by Application Materials processing $ 338,963 $ 317,241 Other applications 31,016 28,344 Total $ 369,979 $ 345,585 Sales by Product High Power Continuous Wave ("CW") Lasers $ 167,691 $ 170,482 Medium Power CW Lasers 23,668 15,882 Pulsed Lasers 66,932 55,395 Quasi-Continuous Wave ("QCW") Lasers 12,780 13,666 Laser and Non-Laser Systems 34,597 27,116 Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue 64,311 63,044 Total $ 369,979 $ 345,585 Three Months Ended March 31, 2022 2021 Sales by Geography North America $ 77,225 $ 73,384 Europe: Germany 27,417 26,260 Other including Eastern Europe/CIS 80,000 58,593 Asia and Australia: China 129,748 139,833 Japan 12,886 10,877 Other 38,675 33,110 Rest of World 4,028 3,528 Total $ 369,979 $ 345,585 Timing of Revenue Recognition Goods and services transferred at a point in time $ 355,415 $ 332,532 Goods and services transferred over time 14,564 13,053 Total $ 369,979 $ 345,585
Changes in Contract Assets and Liabilities	The following table reflects the changes in the Company's contract assets and liabilities for the three months ended March 31, 2022 and 2021: March 31, December 31, March 31, December 31, 2022 2021 Change 2021 2020 Change Contract assets Contract assets $ 9,842 $ 9,345 $ 497 $ 7,670 $ 8,999 $ (1,329) Contract liabilities Contract liabilities - current 94,418 89,659 4,759 69,526 71,246 (1,720) Contract liabilities - long-term 2,770 2,691 79 2,549 2,189 360
Schedule of Remaining Performance Obligations	The following table represents the Company's remaining performance obligations from contracts that are recognized over time as of March 31, 2022: Remaining Performance Obligations 2022 (a) 2023 2024 2025 2026 Thereafter Total Revenue expected to be recognized for extended warranty agreements $ 3,030 $ 1,448 $ 992 $ 603 $ 166 $ 71 $ 6,310 Revenue to be earned over time from contracts to sell robotic systems 18,834 10,775 — — — — 29,609 Total $ 21,864 $ 12,223 $ 992 $ 603 $ 166 $ 71 $ 35,919 (a) For the nine-month period beginning April 1, 2022.

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows. March 31, December 31, 2022 2021 2021 2020 Cash and cash equivalents $ 642,517 $ 896,741 $ 709,105 $ 876,231 Restricted cash included in prepaid expenses and other current assets — — — 2,322 Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows $ 642,517 $ 896,741 $ 709,105 $ 878,553
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows. March 31, December 31, 2022 2021 2021 2020 Cash and cash equivalents $ 642,517 $ 896,741 $ 709,105 $ 876,231 Restricted cash included in prepaid expenses and other current assets — — — 2,322 Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows $ 642,517 $ 896,741 $ 709,105 $ 878,553

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the condensed consolidated balance sheets with the exception of the interest rate swap and contingent purchase consideration, which are measured at fair value: Fair Value Measurements at March 31, 2022 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits and term deposits $ 183,749 $ 183,749 $ — $ — Commercial paper 170,251 — 170,251 — Corporate bonds 4,518 — 4,518 — Municipal bonds 3,122 — 3,122 — Short-term investments: Commercial paper 468,493 — 468,493 — Corporate bonds 182,898 — 182,898 — Municipal bonds 22,125 — 22,125 — Certificates of deposit 3,004 — 3,004 — U.S. Treasury and agency obligations 95,007 — 95,007 — Foreign government bonds 2,003 — 2,003 — Other assets: Interest rate swap 37 — 37 — Total $ 1,135,207 $ 183,749 $ 951,458 $ — Liabilities Term notes $ 33,162 $ — $ 33,162 $ — Contingent purchase consideration 1,615 — — 1,615 Total $ 34,777 $ — $ 33,162 $ 1,615 Fair Value Measurements at December 31, 2021 Total Level 1 Level 2 Level 3 Assets Cash equivalents: Money market fund deposits and term deposits $ 279,066 $ 279,066 $ — $ — Commercial paper 117,663 — 117,663 — Corporate bonds 11,459 — 11,459 — Municipal bonds 3,220 — 3,220 — Short-term investments: Commercial paper 557,955 — 557,955 — Corporate bonds 215,754 — 215,754 — U.S. Treasury and agency obligations 21,980 — 21,980 — Municipal bonds 4,546 — 4,546 — Certificate of deposit 3,000 — 3,000 — Foreign government bonds 2,015 — 2,015 — Total $ 1,216,658 $ 279,066 $ 937,592 $ — Liabilities Term notes $ 34,226 $ — $ 34,226 $ — Contingent purchase consideration 1,371 — — 1,371 Interest rate swap 242 — 242 — Total $ 35,839 $ — $ 34,468 $ 1,371
Schedule of Effective Maturity Dates of Held to Maturity Investments	The following table presents the effective maturity dates of debt investments, which are held-to-maturity: March 31, 2022 December 31, 2021 Book Value Fair Value Book Value Fair Value Investment maturity Less than 1 year $ 774,161 $ 773,530 $ 805,400 $ 805,250
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 March 31, 2022 2021 Contingent purchase consideration Balance, beginning of period $ 1,371 $ 1,963 Cash payments — (466) Foreign exchange adjustment 244 (154) Balance, end of period $ 1,615 $ 1,343
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 March 31, 2022 2021 Contingent purchase consideration Balance, beginning of period $ 1,371 $ 1,963 Cash payments — (466) Foreign exchange adjustment 244 (154) Balance, end of period $ 1,615 $ 1,343

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: March 31, December 31, 2022 2021 Components and raw materials $ 288,752 $ 270,146 Work-in-process 36,806 32,506 Finished goods 159,413 158,095 Total $ 484,971 $ 460,747

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table sets forth the changes in the carrying amount of goodwill: Three Months Ended March 31, 2022 2021 Balance at January 1 $ 38,609 $ 41,366 Goodwill arising from business combinations 1,000 — Adjustment to goodwill during measurement period — (2,205) Foreign exchange adjustment 132 (397) Balance at March 31 $ 39,741 $ 38,764
Schedule of Intangible Assets	Intangible assets, subject to amortization, consisted of the following: March 31, 2022 December 31, 2021 Gross Carrying Amount Accumulated Net Weighted- Average Lives Gross Carrying Amount Accumulated Net Weighted- Customer relationships $ 60,025 $ (25,096) $ 34,929 10 years $ 59,729 $ (23,556) $ 36,173 10 years Technology, trademark and trade name 40,012 (27,051) 12,961 7 years 40,536 (26,269) 14,267 7 years Production know-how 10,564 (8,903) 1,661 7 years 10,384 (8,723) 1,661 7 years Patents 8,036 (7,570) 466 8 years 8,036 (7,459) 577 8 years Total $ 118,637 $ (68,620) $ 50,017 $ 118,685 $ (66,007) $ 52,678
Estimated Future Amortization Expense for Intangibles	The estimated future amortization expense for intangibles for the remainder of 2022 and subsequent years is as follows: 2022 (a) 2023 2024 2025 2026 Thereafter Total $ 8,460 $ 10,590 8,165 $ 6,527 $ 4,791 $ 11,484 $ 50,017 (a) For the nine-month period beginning April 1, 2022.

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Components of Accrued Expenses and Other Liabilities	Accrued expenses and other current liabilities consist of the following: March 31, December 31, 2022 2021 Contract liabilities $ 94,418 $ 89,659 Accrued compensation 62,287 94,857 Current portion of accrued warranty 26,815 26,204 Short-term lease liabilities 5,808 5,454 Other 14,251 14,652 Total $ 203,579 $ 230,826

Product Warranties (Tables)

Product Warranties (Tables)	3 Months Ended
	Mar. 31, 2022
Product Warranties Disclosures [Abstract]
Summary of Product Warranty Activity	Activity related to the warranty accrual was as follows: Three Months Ended March 31, 2022 2021 Balance, beginning of period $ 49,864 $ 45,669 Provision for warranty accrual 5,071 8,403 Warranty claims (3,707) (7,446) Foreign currency translation (882) (1,382) Balance, end of period $ 50,346 $ 45,244

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Borrowings Under Existing Financing Arrangements	The Company's borrowings under existing financing arrangements consist of the following: March 31, December 31, 2022 2021 Total debt $ 33,193 $ 34,157 Less: current portion (17,459) (18,126) Long-term debt, net of current portion $ 15,734 $ 16,031
Schedule of Future Principal Payments	The future principal payments for the Company’s Notes as of March 31, 2022 are as follows: 2022 (a) $ 17,162 2023 16,031 Total $ 33,193 (a) For the nine-month period beginning April 1, 2022.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivatives	The fair value amounts in the condensed consolidated balance sheets were: March 31, December 31, 2022 2021 Notional amounts (1) $ 16,922 $ 17,219 Fair values: Other assets $ 37 $ — Other long-term liabilities and deferred income taxes — 242 (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 condensed consolidated financial statements related to the Company's current and previous interest rate swap contracts were as follows: Three Months Ended March 31, 2022 2021 Effective portion recognized in other comprehensive income, pretax: Interest rate swap $ 279 $ 89

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Unrecognized Tax Benefits	The following is a summary of the activity of the Company’s unrecognized tax benefits for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 Balance at January 1, $ 19,209 $ 14,706 Change in prior period positions (249) — Additions for tax positions in current period 500 1,000 Foreign currency translation (541) (182) Balance at March 31, $ 18,919 $ 15,524

Net Income Attributable to IP_2

Net Income Attributable to IPG Photonics Corporation Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
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 common share following the treasury stock method: Three Months Ended March 31, 2022 2021 Net income attributable to IPG Photonics Corporation common stockholders $ 69,572 $ 68,127 Basic weighted average common shares 52,809,654 53,541,270 Dilutive effect of common stock equivalents 289,885 659,912 Diluted weighted average common shares 53,099,539 54,201,182 Basic net income attributable to IPG Photonics Corporation per common share $ 1.32 $ 1.27 Diluted net income attributable to IPG Photonics Corporation per common share $ 1.31 $ 1.26
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The weighted average anti-dilutive shares outstanding for the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 Non-qualified stock options 472,699 202,500 Restricted stock units 205,272 61,100 Performance stock units 31,560 13,800 Total weighed average anti-dilutive shares outstanding 709,531 277,400

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies (Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 2,108	$ 2,156
Provision for bad debts, net of (recoveries)	(146)	188
Uncollectable accounts written off	(1)	0
Foreign currency translation	(24)	(37)
Balance, end of period	$ 1,937	$ 2,307

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	$ 2,746,582
Foreign currency translation adjustments and other	(39,631)	$ (32,260)
Unrealized gain (loss) on derivatives, net of tax	213	68
Total other comprehensive (loss) income	(39,418)	(32,192)
Ending balance	2,707,249
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax	(66)	(21)
Accumulated Other Comprehensive (Loss) Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	(189,951)	(146,065)
Ending balance	(229,369)	(178,257)
Foreign currency translation adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	(189,767)	(145,603)
Foreign currency translation adjustments and other	(39,631)	(32,260)
Total other comprehensive (loss) income	(39,631)	(32,260)
Ending balance	(229,398)	(177,863)
Unrealized (loss) gain on derivatives, net of tax
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	(184)	(462)
Unrealized gain (loss) on derivatives, net of tax	213	68
Total other comprehensive (loss) income	213	68
Ending balance	$ 29	$ (394)

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Disaggregation of Revenue, By Application) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Sales by Application
Total	$ 369,979	$ 345,585
Materials processing
Sales by Application
Total	338,963	317,241
Other applications
Sales by Application
Total	$ 31,016	$ 28,344

Revenue From Contracts With C_4

Revenue From Contracts With Customers (Disaggregation of Revenue, By Product) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total	$ 369,979	$ 345,585
High Power Continuous Wave ("CW") Lasers
Disaggregation of Revenue [Line Items]
Total	167,691	170,482
Medium Power CW Lasers
Disaggregation of Revenue [Line Items]
Total	23,668	15,882
Pulsed Lasers
Disaggregation of Revenue [Line Items]
Total	66,932	55,395
Quasi-Continuous Wave ("QCW") Lasers
Disaggregation of Revenue [Line Items]
Total	12,780	13,666
Laser and Non-Laser Systems
Disaggregation of Revenue [Line Items]
Total	34,597	27,116
Other Revenue including Amplifiers, Service, Parts, Accessories and Change in Deferred Revenue
Disaggregation of Revenue [Line Items]
Total	$ 64,311	$ 63,044

Revenue From Contracts With C_5

Revenue From Contracts With Customers (Disaggregation of Revenue, By Geography) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Sales by Geography
Total	$ 369,979	$ 345,585
North America
Sales by Geography
Total	77,225	73,384
Germany
Sales by Geography
Total	27,417	26,260
Other including Eastern Europe/CIS
Sales by Geography
Total	80,000	58,593
China
Sales by Geography
Total	129,748	139,833
Japan
Sales by Geography
Total	12,886	10,877
Other
Sales by Geography
Total	38,675	33,110
Rest of World
Sales by Geography
Total	$ 4,028	$ 3,528

Revenue From Contracts With C_6

Revenue From Contracts With Customers (Disaggregation of Revenue, By Timing) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Timing of Revenue Recognition
Total	$ 369,979	$ 345,585
Goods and services transferred at a point in time
Timing of Revenue Recognition
Total	355,415	332,532
Goods and services transferred over time
Timing of Revenue Recognition
Total	$ 14,564	$ 13,053

Revenue From Contracts With C_7

Revenue From Contracts With Customers (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Concentration Risk [Line Items]
Revenue recognized that was included in the contract liability balance at the beginning of the period	$ 21,024	$ 30,378
One Customer | Customer Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	22.00%		22.00%

Revenue From Contracts With C_8

Revenue From Contracts With Customers (Changes in Contract Assets and Contract Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Contract assets
Contract assets	$ 9,842	$ 7,670	$ 9,345	$ 8,999
Contract assets, change	497	(1,329)
Contract liabilities
Contract liabilities - current	94,418	69,526	89,659	71,246
Contract liabilities - current, change	4,759	(1,720)
Contract liabilities - long-term	2,770	2,549	$ 2,691	$ 2,189
Contract liabilities - long-term, change	$ 79	$ 360

Revenue From Contracts With C_9

Revenue From Contracts With Customers (Schedule of Remaining Performance Obligations) (Details) $ in Thousands	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 35,919
Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	6,310
Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	29,609
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 21,864
Remaining performance obligations, expected timing	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 3,030
Remaining performance obligations, expected timing	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 18,834
Remaining performance obligations, expected timing	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 12,223
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 1,448
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 10,775
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 992
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 992
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 603
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 603
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 166
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 166
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 71
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Revenue expected to be recognized for extended warranty agreements
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 71
Remaining performance obligations, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Revenue to be earned over time from contracts to sell robotic systems
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0
Remaining performance obligations, expected timing	1 year

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 642,517	$ 709,105	$ 896,741	$ 876,231
Restricted cash included in prepaid expenses and other current assets	0	0	0	2,322
Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$ 642,517	$ 709,105	$ 896,741	$ 878,553

Restricted Cash (Narrative) (De

Restricted Cash (Narrative) (Details) $ in Thousands	Mar. 31, 2021USD ($)
Cash and Cash Equivalents [Abstract]
Restricted cash released	$ 2,127

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Interest rate swap	$ 37
Total	1,135,207	$ 1,216,658
Liabilities
Term notes	33,162	34,226
Contingent purchase consideration	1,615	1,371
Interest rate swap		242
Total	34,777	35,839
Level 1
Assets
Interest rate swap	0
Total	183,749	279,066
Liabilities
Term notes	0	0
Contingent purchase consideration	0	0
Interest rate swap		0
Total	0	0
Level 2
Assets
Interest rate swap	37
Total	951,458	937,592
Liabilities
Term notes	33,162	34,226
Contingent purchase consideration	0	0
Interest rate swap		242
Total	33,162	34,468
Level 3
Assets
Interest rate swap	0
Total	0	0
Liabilities
Term notes	0	0
Contingent purchase consideration	1,615	1,371
Interest rate swap		0
Total	1,615	1,371
Money market fund deposits and term deposits
Assets
Cash equivalents	183,749	279,066
Money market fund deposits and term deposits | Level 1
Assets
Cash equivalents	183,749	279,066
Money market fund deposits and term deposits | Level 2
Assets
Cash equivalents	0	0
Money market fund deposits and term deposits | Level 3
Assets
Cash equivalents	0	0
Commercial paper
Assets
Cash equivalents	170,251	117,663
Commercial paper | Level 1
Assets
Cash equivalents	0	0
Commercial paper | Level 2
Assets
Cash equivalents	170,251	117,663
Commercial paper | Level 3
Assets
Cash equivalents	0	0
Corporate bonds
Assets
Cash equivalents	4,518	11,459
Short-term investments	182,898	215,754
Corporate bonds | Level 1
Assets
Cash equivalents	0	0
Short-term investments	0	0
Corporate bonds | Level 2
Assets
Cash equivalents	4,518	11,459
Short-term investments	182,898	215,754
Corporate bonds | Level 3
Assets
Cash equivalents	0	0
Short-term investments	0	0
Commercial paper
Assets
Short-term investments	468,493	557,955
Commercial paper | Level 1
Assets
Short-term investments	0	0
Commercial paper | Level 2
Assets
Short-term investments	468,493	557,955
Commercial paper | Level 3
Assets
Short-term investments	0	0
Municipal bonds
Assets
Cash equivalents	3,122	3,220
Short-term investments	22,125	4,546
Municipal bonds | Level 1
Assets
Cash equivalents	0	0
Short-term investments	0	0
Municipal bonds | Level 2
Assets
Cash equivalents	3,122	3,220
Short-term investments	22,125	4,546
Municipal bonds | Level 3
Assets
Cash equivalents	0	0
Short-term investments	0	0
Certificates of deposit
Assets
Short-term investments	3,004	3,000
Certificates of deposit | Level 1
Assets
Short-term investments	0	0
Certificates of deposit | Level 2
Assets
Short-term investments	3,004	3,000
Certificates of deposit | Level 3
Assets
Short-term investments	0	0
U.S. Treasury and agency obligations
Assets
Short-term investments	95,007	21,980
U.S. Treasury and agency obligations | Level 1
Assets
Short-term investments	0	0
U.S. Treasury and agency obligations | Level 2
Assets
Short-term investments	95,007	21,980
U.S. Treasury and agency obligations | Level 3
Assets
Short-term investments	0	0
Foreign government bonds
Assets
Short-term investments	2,003	2,015
Foreign government bonds | Level 1
Assets
Short-term investments	0	0
Foreign government bonds | Level 2
Assets
Short-term investments	2,003	2,015
Foreign government bonds | Level 3
Assets
Short-term investments	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity impairment	$ 0	$ 0
Long-term debt, fair value	33,162,000		$ 34,226,000
Long-term debt, book value	33,193,000		$ 34,157,000
Held-to-maturity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Allowance for credit loss	$ 0	$ 0

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Effective Maturity Dates of Held to Maturity Investments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Investment maturity
Held-to-maturity maturities, less than 1 year, book value	$ 774,161	$ 805,400
Held-to-maturity maturities, less than 1 year, fair value	$ 773,530	$ 805,250

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Auction Rate Securities and Contingent Purchase Consideration) (Details) - Contingent purchase consideration - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 1,371	$ 1,963
Cash payments	0	(466)
Foreign exchange adjustment	244	(154)
Balance, end of period	$ 1,615	$ 1,343

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Components and raw materials	$ 288,752	$ 270,146
Work-in-process	36,806	32,506
Finished goods	159,413	158,095
Total	$ 484,971	$ 460,747

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventory provisions	$ 10,781	$ 8,027

Goodwill and Intangibles (Sched

Goodwill and Intangibles (Schedule of Changes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill [Roll Forward]
Balance at January 1	$ 38,609	$ 41,366
Goodwill arising from business combinations	1,000	0
Adjustment to goodwill during measurement period	0	(2,205)
Foreign exchange adjustment	132	(397)
Balance at March 31	$ 39,741	$ 38,764

Goodwill and Intangibles (Intan

Goodwill and Intangibles (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 118,637	$ 118,685
Accumulated Amortization	(68,620)	(66,007)
Net  Carrying Amount	50,017	52,678
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	60,025	59,729
Accumulated Amortization	(25,096)	(23,556)
Net  Carrying Amount	$ 34,929	$ 36,173
Weighted- Average  Lives	10 years	10 years
Technology, trademark and trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 40,012	$ 40,536
Accumulated Amortization	(27,051)	(26,269)
Net  Carrying Amount	$ 12,961	$ 14,267
Weighted- Average  Lives	7 years	7 years
Production know-how
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 10,564	$ 10,384
Accumulated Amortization	(8,903)	(8,723)
Net  Carrying Amount	$ 1,661	$ 1,661
Weighted- Average  Lives	7 years	7 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 8,036	$ 8,036
Accumulated Amortization	(7,570)	(7,459)
Net  Carrying Amount	$ 466	$ 577
Weighted- Average  Lives	8 years	8 years

Goodwill and Intangibles (Narra

Goodwill and Intangibles (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3,021	$ 3,257

Goodwill and Intangibles (Estim

Goodwill and Intangibles (Estimated Future Amortization Expense for Intangibles) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 8,460
2023	10,590
2024	8,165
2025	6,527
2026	4,791
Thereafter	11,484
Net  Carrying Amount	$ 50,017	$ 52,678

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Contract liabilities	$ 94,418	$ 89,659	$ 69,526	$ 71,246
Accrued compensation	62,287	94,857
Current portion of accrued warranty	26,815	26,204
Short-term lease liabilities	5,808	5,454
Other	14,251	14,652
Total	$ 203,579	$ 230,826

Product Warranties (Narrative)

Product Warranties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Product Warranty Liability [Line Items]
Accrued warranty reported in accrued expenses and other liabilities	$ 26,815	$ 26,204
Accrued warranty reported in other long-term liabilities	$ 23,531	$ 23,660
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	5 years

Product Warranties (Summary of

Product Warranties (Summary of Product Warranty Activity) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance, beginning of period	$ 49,864	$ 45,669
Provision for warranty accrual	5,071	8,403
Warranty claims	(3,707)	(7,446)
Foreign currency translation	(882)	(1,382)
Balance at March 31	$ 50,346	$ 45,244

Financing Arrangements (Borrowi

Financing Arrangements (Borrowings Under Existing Financing Arrangements) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Total debt	$ 33,193	$ 34,157
Less: current portion	(17,459)	(18,126)
Long-term debt, net of current portion	$ 15,734	$ 16,031

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details) € in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	May 31, 2023USD ($)	Jul. 31, 2022USD ($)	Mar. 31, 2022EUR (€)	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Total unused credit lines and overdraft facilities	$ 127,530,000
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%			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	$ 16,271,000
Fixed interest rate swap	2.74%			2.74%
Secured Debt | Scenario, Forecast
Debt Instrument [Line Items]
Amount due on long-term note			$ 15,375,000
Long-term notes | Unsecured Debt
Debt Instrument [Line Items]
Amount due on long-term note	$ 16,922,000
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	2,731,000				2,478,000
U.S. line-of-credit | Letter of Credit
Debt Instrument [Line Items]
Borrowing capacity	75,000,000
Euro line-of-credit
Debt Instrument [Line Items]
Line of credit	0				0
Guarantees issued	1,976,000				2,161,000
Euro line-of-credit | Letter of Credit
Debt Instrument [Line Items]
Borrowing capacity	55,570,000			€ 50,000
Euro overdraft facility
Debt Instrument [Line Items]
Line of credit	0				$ 0
Euro overdraft facility | Letter of Credit
Debt Instrument [Line Items]
Borrowing capacity	$ 1,667,000			€ 1,500

Financing Arrangements (Future

Financing Arrangements (Future Principal Payments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022	$ 17,162
2023	16,031
Total debt	$ 33,193	$ 34,157

Derivative Financial Instrume_3

Derivative Financial Instruments (Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Interest rate swap	$ 37
Other long-term liabilities and deferred income taxes		$ 242
Derivative designated as a cash flow hedge | Interest rate swap
Derivatives, Fair Value [Line Items]
Derivative, notional amount	16,922	17,219
Derivative designated as a cash flow hedge | Interest rate swap | Other assets
Derivatives, Fair Value [Line Items]
Interest rate swap	37	0
Derivative designated as a cash flow hedge | Interest rate swap | Other long-term liabilities and deferred income taxes
Derivatives, Fair Value [Line Items]
Other long-term liabilities and deferred income taxes	$ 0	$ 242

Derivative Financial Instrume_4

Derivative Financial Instruments (Derivative Gains (Losses) in the Consolidated Statements of Income Related to Interest Rate Swap Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest rate swap | Derivative designated as a cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion recognized in other comprehensive income, interest rate swap	$ 279	$ 89

Commitments and Contingencies (

Commitments and Contingencies (Details)	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
Legal proceedings	$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	25.00%	23.00%
Share-based payment arrangement, tax benefit	$ 252	$ 4,288

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1,	$ 19,209	$ 14,706
Change in prior period positions	(249)	0
Additions for tax positions in current period	500	1,000
Foreign currency translation	(541)	(182)
Balance at March 31,	$ 18,919	$ 15,524

Net Income Attributable to IP_3

Net Income Attributable to IPG Photonics Corporation Per Common Share (Computation of Diluted Net Income) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income attributable to IPG Photonics Corporation common stockholders	$ 69,572	$ 68,127
Basic weighted average common shares	52,809,654	53,541,270
Dilutive effect of common stock equivalents (in shares)	289,885	659,912
Diluted weighted average common shares	53,099,539	54,201,182
Basic net income attributable to IPG Photonics Corporation per common share (in dollars per share)	$ 1.32	$ 1.27
Diluted net income attributable to IPG Photonics Corporation per common share (in dollars per share)	$ 1.31	$ 1.26

Net Income Attributable to IP_4

Net Income Attributable to IPG Photonics Corporation Per Common Share (Anti Dilutive Shares Excluded From EPS) (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	709,531	277,400
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	472,699	202,500
Restricted Stock Units, RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	205,272	61,100
Performance Stock Units, PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded from computation of diluted weighted average common shares	31,560	13,800

Net Income Attributable to IP_5

Net Income Attributable to IPG Photonics Corporation Per Common Share (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Feb. 15, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share repurchase authorized amount		$ 200,000,000
Decrease in weighted average number of shares outstanding treasury stock	(262,657)
2020 Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock repurchased during period (in shares)	601,115
Stock repurchase average price (in dollars per share)	$ 130.99
Remaining repurchase amount	$ 233,000,000
2022 Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Remaining repurchase amount	$ 233,000,000