Teledyne FLIR (FLIR) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018	Jun. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	FLIR SYSTEMS INC
Entity Central Index Key	354,908
Trading Symbol	FLIR
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		137,214,305
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 4,711,497,291

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 439,618	$ 406,814
Cost of goods sold	221,704	215,493
Gross profit	217,914	191,321
Operating expenses:
Research and development	44,561	41,983
Selling, general and administrative	107,683	90,252
Loss on sale of business	10,178	0
Total operating expenses	162,422	132,235
Earnings from operations	55,492	59,086
Interest expense	4,052	4,453
Interest income	(956)	(271)
Other income, net	(2,219)	(660)
Earnings before income taxes	54,615	55,564
Income tax provision	15,420	12,993
Net earnings	$ 39,195	$ 42,571
Net earnings per share:
Basic earnings per share (in dollars per share)	$ 0.28	$ 0.31
Diluted earnings per share (in dollars per share)	$ 0.28	$ 0.31
Weighted Average Number of Shares Outstanding, Basic	138,504	136,359
Weighted Average Number of Shares Outstanding, Diluted	140,994	138,239

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 39,195	$ 42,571
Other comprehensive income (loss), net of tax:
Fair value adjustment on interest rate swap contracts	0	187
Unealized gain on available-for-sale investments	0	(1)
Foreign currency translation adjustments	13,937	13,202
Total other comprehensive income	13,937	13,388
Comprehensive income	$ 53,132	$ 55,959

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash, cash equivalents and restricted cash	$ 452,138	$ 519,090
Accounts receivable, net	329,792	346,687
Inventories	385,906	372,183
Assets held for sale, net	0	67,344
Prepaid expenses and other current assets	101,371	81,915
Total current assets	1,269,207	1,387,219
Property and equipment, net	260,200	263,996
Deferred income taxes, net	15,924	21,001
Goodwill	918,292	909,811
Intangible assets, net	163,429	168,130
Other assets	76,948	59,869
Total assets	2,704,000	2,810,026
Current liabilities:
Accounts payable	110,653	106,389
Deferred revenue	25,224	25,614
Accrued payroll and related liabilities	61,817	71,310
Accrued product warranties	15,319	15,024
Advance payments from customers	21,679	20,672
Accrued expenses	35,760	37,089
Accrued income taxes	38,869	64,136
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	39,544
Other current liabilities	15,392	15,155
Total current liabilities	324,713	394,933
Long-term debt	421,000	420,684
Deferred income taxes	15,732	12,496
Accrued income taxes	89,088	87,483
Pension and other long-term liabilities	67,249	59,872
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.01 par value, 10,000 shares authorized; no shares issued at March 31, 2018, and December 31, 2017	0	0
Common stock, $0.01 par value, 500,000 shares authorized, 137,279 and 138,869 shares issued at March 31, 2018, and December 31, 2017, respectively, and additional paid-in capital	5,364	91,162
Retained earnings	1,880,277	1,856,756
Accumulated other comprehensive loss	(99,423)	(113,360)
Total shareholders’ equity	1,786,218	1,834,558
Total liabilities and shareholders' equity	$ 2,704,000	$ 2,810,026

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000	500,000
Common stock, shares issued	137,279	138,869

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH PROVIDED BY OPERATING ACTIVITIES:
Net earnings	$ 39,195	$ 42,571
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	16,446	17,031
Deferred income taxes	4,574	192
Stock-based compensation arrangements	5,931	6,246
Other, net	(6,696)	(3,742)
Increase (decrease) in cash, net of acquisitions, resulting from changes in:
Accounts receivable	28,344	44,845
Inventories	(8,760)	(12,789)
Prepaid expenses	1,331	(2,437)
Other assets	(477)	9,633
Accounts payable	(8,150)	(4,463)
Deferred revenue	317	(501)
Accrued payroll and other liabilities	(14,760)	(14,236)
Accrued income taxes	(29,435)	(4,115)
Pension and other long-term liabilities	15,316	(3,108)
Net cash provided by operating activities	43,176	75,127
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property and equipment, net	(7,099)	(13,594)
Proceeds from sale of business	25,920	0
Business acquisitions, net of cash acquired	(7,070)	0
Payments for (Proceeds from) Other Investing Activities	(9,500)	0
Net cash provided (used) by investing activities	2,251	(13,594)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	0	(7,500)
Repurchase of common stock	(94,956)	0
Dividends paid	(22,232)	(20,456)
Proceeds from shares issued pursuant to stock-based compensation plans	3,497	1,002
Payments Related to Tax Withholding for Share-based Compensation	(265)	(1,843)
Other financing activities	(11)	(1)
Net cash used by financing activities	(113,967)	(28,798)
Effect of exchange rate changes on cash	1,588	3,352
Net (decrease) increase in cash, cash equivalents and restricted cash	(66,952)	36,087
Cash, cash equivalents and restricted cash, beginning of year	519,090	361,349
Cash, cash equivalents and restricted cash, end of period	$ 452,138	$ 397,436

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Nature of Business and Significant Accounting Policies	Basis of Presentation The accompanying consolidated financial statements of FLIR Systems, Inc. and its consolidated subsidiaries (the “Company”) are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the Company’s consolidated financial position and results of operations for the interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 . The accompanying consolidated financial statements include the accounts of FLIR Systems, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for the year ending December 31, 2018 . Recently Adopted Accounting Pronouncements Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash" ("ASU 2016-18"). Effective January 1, 2018, the Company adopted ASU 2016-18 on a retrospective basis. This update clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows. The amendment requires restricted cash be included in an entity's cash and cash-equivalent balances in the statement of cash flows and also requires an entity to disclose information about the nature of the restrictions. Further, a reconciliation between the statement of financial position and the statement of cash flows must be disclosed when the statement of financial position includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. The Company's adoption of ASU 2016-18 did not have a material impact on the consolidated financial statements. FASB ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business" ("ASU 2017-01"). Effective January 1, 2018, the Company adopted ASU 2017-01. The amendments in this update clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company's adoption of ASU 2017-01 did not have a material impact on the consolidated financial statements. FASB ASU No. 2014-09, "Revenue - Revenue from Contracts with Customers" ("ASU 2014-09"). Effective January 1, 2018, the Company adopted ASU 2014-09 and all the related amendments ("new revenue standard" or "ASC 606") using the modified retrospective method to those contracts not yet completed as of January 1, 2018. As a result, the Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings in the amount of approximately $1.0 million as of January 1, 2018. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company expects the impact of the adoption of the new standard to be immaterial to net income on an ongoing basis. FASB ASU No. 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" ("ASU 2016-16"). Effective January 1, 2018, the Company adopted ASU 2016-16, which eliminates the exception of recognizing, at the time of transfer, current and deferred income taxes for intra-entity asset transfers other than inventory. This new standard has been applied on a modified retrospective transition basis with an adjustment to the opening balance of retained earnings in the amount of approximately $5.6 million as of January 1, 2018. Note 1. Basis of Presentation - (Continued) Recently Adopted Accounting Pronouncements - (Continued) The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet for the adoption of ASU 2014-09, "Revenue - Revenue from Contracts with Customers" and ASU 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" were as follows (in thousands): Balance at December 31, 2017 Adjustments Due to ASU 2014-09 Adjustments Due to ASU 2016-16 Balance at January 1, 2018 Assets Accounts receivable, net $ 346,687 $ 981 $ — $ 347,668 Inventories 372,183 (524 ) — 371,659 Other assets 59,869 — (1,005 ) 58,864 Liabilities Deferred revenue 25,614 (788 ) — 24,826 Deferred income taxes 12,496 290 1,422 14,208 Pension and other long-term liabilities 59,872 — (8,030 ) 51,842 Shareholders' Equity Retained earnings 1,856,756 955 5,603 1,863,314 In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet was as follows (in thousands): For the Period Ended March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Income Statement Revenue $ 439,618 $ 438,971 $ 647 Cost of goods sold 221,704 221,610 94 Income tax provision 15,420 15,301 119 Net earnings 39,195 38,761 434 March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Balance Sheet Assets Accounts receivable, net $ 329,792 $ 328,164 $ 1,628 Inventories 385,906 386,524 (618 ) Liabilities Deferred revenue 25,224 26,012 (788 ) Deferred income taxes 15,732 15,323 409 Equity Retained earnings 1,880,277 1,878,888 1,389 For additional disclosures required by the new revenue standard see Note 2, "Revenue."

Revenue Revenue

Revenue Revenue	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue Recognition The Company designs, markets and sells products primarily as commercial, off-the-shelf products. Certain customers request different system configurations, based on standard options or accessories that the Company offers. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company regularly enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. In such situations, contract values are allocated to each performance obligation based on its relative estimated standalone selling price. The vast majority of the Company's revenues are recognized at a point in time when goods are transferred to a customer. However, for certain contracts that include highly customized components, if performance does not create an asset with an alternative use and termination for convenience clauses provide an enforceable right to payment for performance completed to date, revenue is recognized over time as the performance obligation is satisfied. The following table presents the Company’s revenues disaggregated by geographical region and operating segment for the three-month periods ended March 31, 2018 and 2017 (in thousands). Three Months Ended March 31, 2018 Industrial Government and Defense Commercial Total United States $ 86,296 $ 95,133 $ 44,015 $ 225,444 Europe 35,543 17,203 44,777 97,523 Asia 34,057 18,351 8,965 61,373 Middle East/Africa 3,665 27,183 5,559 36,407 Canada/Latin America 11,097 1,461 6,313 18,871 $ 170,658 $ 159,331 $ 109,629 $ 439,618 Three Months Ended March 31, 2017 Industrial Government and Defense Commercial Total United States $ 76,974 $ 91,233 $ 53,625 $ 221,832 Europe 33,258 12,082 37,931 83,271 Asia 33,225 12,021 8,678 53,924 Middle East/Africa 2,332 18,225 4,585 25,142 Canada/Latin America 8,996 4,619 9,030 22,645 $ 154,785 $ 138,180 $ 113,849 $ 406,814 Revenue includes certain shipping and handling costs and is stated net of third party agency fees. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are in included in cost of goods sold. Revenue is recognized net of allowances for returns and net of taxes collected from customers which are subsequently remitted to governmental authorities. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables and deferred revenue and advance payments from customers on the Consolidated Balance Sheets. Contract assets and liabilities are reported on a contract-by-contract basis. The Company had no material deferred contract costs recorded on the Consolidated Balance Sheet as of March 31, 2018 . Note 2. Revenue - (Continued) Contract Balances - (Continued) Contract assets : The Company recognizes unbilled receivables as contract assets when the Company has rights to consideration for work completed but has not yet billed at the reporting date. Unbilled receivables are included within accounts receivable, net on the Consolidated Balance Sheets. The balance of unbilled receivables as of March 31, 2018 and at the date of adoption of were $8.4 million and $14.5 million , respectively. Contract Liabilities : The Company records contract liabilities when cash payments are received or due in advance of the Company's performance. Contract liabilities include deferred revenue and advance payments from customers. Contract liabilities are classified as either current or long-term in the Consolidated Balance Sheets based on the timing of when the Company expects to recognize revenue. As of March 31, 2018 and at the date of the adoption of ASC 606, contract liability balances classified as long-term totaled $13.5 million and $13.8 million , respectively, and are included within pension and other long-term liabilities in the accompanying Consolidated Balance Sheets. Approximately $28.4 million of revenue recognized during the three month period ended March 31, 2018 was included in the combined contract liability balances at the date of adoption. Remaining Performance Obligations Remaining performance obligations related to ASC 606 represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period. While the remaining performance obligation disclosure is similar in concept to backlog, the definition of remaining performance obligations excludes contracts that provide the customer with the right to cancel or terminate for convenience with no substantial penalty, even if historical experience indicates the likelihood of cancellation or termination is remote. The Company has elected to exclude contracts with customers with an original term of one year or less from remaining performance obligations while these contracts are included within backlog. As of March 31, 2018 , the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $50.3 million . The Company expects to recognize revenue on approximately 53 percent of the remaining performance obligations over the next 12 months, and the remainder recognized thereafter.

Stock-based compensation

Stock-based compensation	3 Months Ended
	Mar. 31, 2018
Share-based Compensation [Abstract]
Stock-based Compensation	Stock-based Compensation Stock Incentive Plans The Company has a stock-based compensation program that provides equity incentives for employees, consultants and directors. This program includes incentive and non-statutory stock options and non-vested stock awards (referred to as restricted stock unit awards) granted under two plans: the FLIR Systems, Inc. 2002 Stock Incentive Plan (the “2002 Plan”) and the FLIR Systems, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). The Company has discontinued issuing awards out of the 2002 Plan but previously-granted awards under the 2002 Plan remain outstanding. The Company has granted time-based options, time-based restricted stock unit awards, market-based restricted stock unit awards and performance-based restricted stock unit awards. Options generally expire ten years from the grant date. Time-based options and restricted stock unit awards generally vest over a three year period. Market-based restricted stock unit awards may be earned based upon the Company's total shareholder return compared to the total shareholder return of the component company at the 60th percentile level in the S&P 500 Index over a three year period. Performance-based restricted stock unit awards granted during the year ended December 31, 2016 may be earned based upon the Company's return on invested capital over a three year period. Performance-based restricted stock unit awards granted during the year ended December 31, 2017 may be earned based upon the Company's operating margin performance over a three year period. Certain shares vested under the performance-based restricted stock unit awards and the market-based restricted stock unit awards must be held by the participant for a period of one year from the vest date. Note 3. Stock-based Compensation - (Continued) Employee Stock Purchase Plan The Company has an Employee Stock Purchase Plan (the “ESPP”) which allows employees to purchase shares of the Company’s common stock at 85 percent of the fair market value at the lower of either the date of enrollment or the purchase date. The ESPP provides for six-month offerings commencing on May 1 and November 1 of each year with purchases on April 30 and October 31 of each year. Shares purchased under the ESPP must be held by employees for a period of at least 18 months after the date of purchase. The following table sets forth the stock-based compensation expense recognized in the Consolidated Statements of Income (in thousands): Three Months Ended March 31, 2018 2017 Cost of goods sold $ 695 $ 400 Research and development 1,409 1,177 Selling, general and administrative 3,827 4,669 Stock-based compensation expense before income taxes $ 5,931 $ 6,246 Stock-based compensation expense capitalized in the Consolidated Balance Sheets is as follows (in thousands): March 31, 2018 2017 Capitalized in inventory $ 1,057 $ 902 As of March 31, 2018 , the Company had approximately $35.6 million of total unrecognized stock-based compensation costs, net of estimated forfeitures, to be recognized over a weighted average period of 2.00 years.

Net Earnings Per Share Net Earn

Net Earnings Per Share Net Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Net Earnings Per Share The following table sets forth the reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share (in thousands): Three Months Ended March 31, 2018 2017 Numerator for earnings per share: Net earnings for basic and diluted earnings per share $ 39,195 $ 42,571 Denominator for earnings per share: Weighted average number of common shares outstanding 138,504 136,359 Assumed exercise of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method 2,490 1,880 Diluted shares outstanding 140,994 138,239 The effect of stock-based compensation awards for the three months ended March 31, 2017 that aggregated 18,000 shares have been excluded for purposes of diluted earnings per share since the effect of their inclusion would have been anti-dilutive. There were no shares excluded for the three months ended March 31, 2018 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	used in determining the fair value of financial assets and liabilities are summarized into three broad categories in accordance with FASB ASC Topic 820, “Fair Value Measurements”: Level 1 – quoted prices in active markets for identical securities as of the reporting date; Level 2 – other significant directly or indirectly observable inputs, including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and observable market prices for identical instruments that are traded in less active markets; and Level 3 – significant inputs that are generally less observable than objective sources, including our own assumptions in determining fair value. The factors or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The Company had $66.2 million and $140.7 million of cash equivalents at March 31, 2018 and December 31, 2017 , respectively, which were primarily investments in money market funds and overnight deposits. The Company has categorized its cash equivalents as a Level 1 financial asset, measured at fair value based on quoted prices in active markets of identical assets. All cash equivalents are in instruments that are convertible to cash daily. The fair value of the Company’s foreign currency contracts as of March 31, 2018 and December 31, 2017 , are disclosed in Note 6, "Derivative Financial Instruments," and are based on Level 2 inputs. The fair value of the Company’s senior unsecured notes as described in Note 14, "Long-Term Debt," is approximately $422.6 million and $427.5 million based upon Level 2 inputs at March 31, 2018 and December 31, 2017 , respectively. At March 31, 2018 and December 31, 2017 , the Company had no other borrowings outstanding under the revolving credit facility described in Note 14. The Company does not have any other significant financial assets or liabilities that are measured at fair value.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Foreign Currency Exchange Rate Risk The Company enters into foreign currency forward contracts not formally designated as hedges to manage the consolidated exchange rate risk associated with the remeasurement of non-functional currency denominated monetary assets and liabilities. Changes in fair value of foreign currency forward contracts are recognized in income at the end of each reporting period based on the difference between the contract rate and the spot rate. In general, these gains and losses are offset in the Consolidated Statements of Income by the reciprocal gains and losses from the underlying assets or liabilities which originally gave rise to the exposure. The net amount of the gains and losses related to derivative instruments recorded in other income, net for the three months ended March 31, 2018 and 2017 were net losses of $4.7 million and $1.0 million , respectively. The table below presents the net notional amounts of the Company’s outstanding foreign currency forward contracts by currency (in thousands): March 31, December 31, 2018 2017 European euro $ 119,216 $ 34,800 British pound sterling 20,392 34,317 Canadian dollar 17,863 7,426 Swedish kroner 12,467 59,373 Brazilian real 7,708 7,794 Norwegian kroner 6,499 3,095 Australian dollar 768 2,817 Japanese yen 239 3,362 $ 185,152 $ 152,984 At March 31, 2018 , the Company’s foreign currency forward contracts, in general, had maturities of three months or less. Note 6. Derivative Financial Instruments - (Continued) Foreign Currency Exchange Rate Risk - (Continued) The carrying amounts of the foreign exchange contracts included in the Consolidated Balance Sheets are as follows (in thousands): March 31, 2018 December 31, 2017 Prepaid Expenses and Other Current Assets Other Current Liabilities Prepaid Expenses and Other Current Assets Other Current Liabilities Foreign exchange contracts $ 78 $ 2,623 $ 1,760 $ 579

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable are net of an allowance for doubtful accounts of $ 8.1 million and $ 7.6 million at March 31, 2018 and December 31, 2017 , respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following (in thousands): March 31, December 31, 2018 2017 Raw material and subassemblies $ 215,479 $ 210,615 Work-in-progress 54,310 47,400 Finished goods 116,117 114,168 $ 385,906 $ 372,183

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment are net of accumulated depreciation of $ 315.5 million and $ 306.2 million at March 31, 2018 and December 31, 2017 , respectively.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill In August 2017, the Company announced a realignment of its business operations into three reportable operating segments effective as of January 1, 2018. This reorganization requires that the Company reassign its reported goodwill as of January 1, 2018 to its new reportable segments based on the relative fair value of the respective operating segments at that time. The Company is in the process of performing this valuation analysis which is expected to be finalized by June 30, 2018. Subsequent to the reallocation of goodwill, an impairment test of each new reporting unit is required to be performed, and a potential impairment could be deemed to exist as a result of this process. The Company will record any such potential impairment, if identified, during the fiscal quarter ending June 30, 2018. See Note 18, "Operating Segments and Related Information" of the Notes to the Consolidated Financial Statements for additional information on the three new reportable operating segments. The carrying value of goodwill and the activity for the three months ended March 31, 2018 are as follows (in thousands): Balance, December 31, 2017 $ 909,811 Currency translation adjustments 8,481 Balance, March 31, 2018 $ 918,292

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets are net of accumulated amortization of $ 90.8 million and $ 84.5 million at March 31, 2018 and December 31, 2017 , respectively.

Credit Agreement

Credit Agreement	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Credit Agreements	Credit Agreement On February 8, 2011, the Company entered into a credit agreement with Bank of America, N.A., U.S. Bank National Association, JPMorgan Chase Bank N.A. and other lenders, as amended on April 5, 2013, October 27, 2015 and May 31, 2016 (the "Credit Agreement") which provides for a $500 million revolving line of credit. At March 31, 2018 , the Company had no amounts outstanding under its revolving credit facility and had $14.9 million of letters of credit outstanding governed by the facility, which reduces the total available revolving credit under the Credit Agreement to $485.1 million .

Accrued Product Warranties

Accrued Product Warranties	3 Months Ended
	Mar. 31, 2018
Product Warranties Disclosures [Abstract]
Accrued Product Warranties	Accrued Product Warranties The following table summarizes the Company’s warranty liability and activity (in thousands): Three Months Ended March 31, 2018 2017 Accrued product warranties, beginning of period $ 18,052 $ 20,845 Amounts paid for warranty services (3,278 ) (4,629 ) Warranty provisions for products sold 3,536 3,709 Currency translation adjustments and other 202 46 Accrued product warranties, end of period $ 18,512 $ 19,971 Current accrued product warranties, end of period $ 15,319 $ 16,642 Long-term accrued product warranties, end of period $ 3,193 $ 3,329

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands): March 31, December 31, 2018 2017 Unsecured notes $ 425,000 $ 425,000 Unamortized discounts and issuance costs of unsecured notes (4,000 ) (4,316 ) Long-term debt $ 421,000 $ 420,684 In June 2016, the Company issued $425 million aggregate principal amount of its 3.125 percent senior unsecured notes due June 15, 2021 (the “2016 Notes”). The net proceeds from the issuance of the 2016 Notes were approximately $421.0 million , after deducting underwriting discounts and offering expenses, which are being amortized over a period of five years . Interest on the 2016 Notes is payable semiannually in arrears on December 15 and June 15. The proceeds from the 2016 Notes were used to repay the principal amount of the notes issued in August 2011 and outstanding in July 2016 and are being used for general corporate purposes, including working capital and capital expenditure needs, business acquisitions and repurchases of the Company’s common stock.

Shareholders' Equity (Notes)

Shareholders' Equity (Notes)	3 Months Ended
	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Stockholders' Equity	Shareholders’ Equity The following table summarizes the common stock and additional paid-in capital activity during the three months ended March 31, 2018 (in thousands): Common stock and additional paid-in capital, December 31, 2017 $ 91,162 Common stock issued pursuant to stock-based compensation plans, net 3,232 Stock-based compensation 5,926 Repurchase of common stock (94,956 ) Common stock and additional paid-in capital, March 31, 2018 $ 5,364 Note 15. Shareholders’ Equity - (Continued) During the three months ended March 31, 2018 , the Company repurchased 1.7 million shares of the Company's common stock through open market transactions and entered into an accelerated share repurchase program at a notional amount of $50.0 million under which the Company received 0.8 million shares in March 2018. The repurchases were under the February 2017 authorization by the Company's Board of Directors which authorized the repurchase of up to 15.0 million shares of the Company's outstanding common stock. This authorization expires in February 2019. On March 9, 2018 , the Company paid a dividend of $0.16 per share on its outstanding common stock to the shareholders of record as of the close of business on February 23, 2018 . The total cash payments for dividends during the three months ended March 31, 2018 were $22.2 million .

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Raytheon Litigation FLIR Systems, Inc. and its subsidiary, FLIR Commercial Systems, Inc. (formerly known as Indigo Systems Corporation) (together, the “FLIR Parties”), were named in a lawsuit filed by Raytheon Company (“Raytheon”) on March 2, 2007, in the United States District Court for the Eastern District of Texas. Raytheon's complaint, as amended, asserted claims for tortious interference, patent infringement, trade secret misappropriation, unfair competition, breach of contract, and fraudulent concealment. The FLIR Parties filed an answer to the complaint on September 2, 2008, in which they denied all material allegations. On October 27, 2010, the FLIR Parties and Raytheon entered into a settlement agreement that resolved the patent infringement claims (the "Patent Claims") pursuant to which the FLIR Parties paid $3 million to Raytheon and entitles the FLIR Parties to certain license rights in the patents that were the subject of the Patent Claims. On October 28, 2014, a four-week trial began with respect to Raytheon's remaining claims of misappropriations of trade secrets and claims related to 31 alleged trade secrets. On November 24, 2014, a jury in the United States District Court for the Eastern District of Texas rejected Raytheon’s claims and determined that 27 of the alleged trade secrets were not in fact trade secrets and that neither of the FLIR Parties infringed any of the trade secrets claimed and awarded Raytheon no damages. On March 31, 2016, the United States District Court for the Eastern District of Texas issued a Final Judgment denying Raytheon’s claims and awarding FLIR court costs and denying each of Raytheon’s and FLIR’s Renewed Motions for Judgment as a Matter of Law and denying FLIR’s Amended Rule 54(d) Motion for Attorneys’ Fees and Costs Under the Texas Theft Liability Act. On April 29, 2016, Raytheon filed a Notice of Appeal to the United States Court of Appeals for the Federal Circuit of the denial by the United States District Court for the Eastern District of Texas of Raytheon’s Renewed Motion for Judgment as a Matter of Law, or in the Alternative, Motion for New Trial. On May 11, 2016, the FLIR Parties filed a Notice of Appeal to the United States Court of Appeals for the Federal Circuit of the Order of the United States District Court for the Eastern District of Texas Denying the FLIR Parties’ Amended Rule 54(d) Motion for Attorneys’ Fees and Costs under the Texas Theft Liability Act, the Order Denying the FLIR Parties’ Renewed Motion For Judgment as a Matter Of Law, and the Final Judgment to the extent it denied the FLIR Parties Attorneys’ Fees and Costs under the Texas Theft Liability Act. The United States Court of Appeals for the Federal Circuit heard the matter on January 12, 2018 and a decision is expected later this year. The matter remains ongoing and is subject to appeal. The Company is unable to estimate the amount or range of potential loss or recovery, if any, which might result if the final determination of this matter is favorable or unfavorable, but an adverse ruling on the merits of the original claims against the FLIR Parties, while remote, could be material. Note 16. Contingencies - (Continued) Matters Involving the United States Department of State and Department of Commerce On October 22, 2014, the Company initially contacted the United States Department of State Office of Defense Trade Controls Compliance (“DDTC”), pursuant to International Traffic in Arms Regulation (“ITAR”) § 127.12(c), regarding the unauthorized export of technical data and defense services to dual and third country nationals in at least four facilities of the Company. On April 27, 2015, the Company submitted its initial report to DDTC regarding the details of the issues raised in the October 22, 2014, submission. DDTC subsequently notified the Company that it was considering administrative proceedings under Part 128 of ITAR and requested a tolling agreement, which the Company executed on June 16, 2015 and referenced certain Company disclosures in addition to the submissions made in conjunction with the October 24, 2014 initial notification. On June 6, 2016, the Company executed a subsequent tolling agreement extending the tolling period for matters to be potentially included in an administrative proceeding for an additional 18 months and at the request of DDTC on December 1, 2017, further extended the tolling agreement for an additional six months through May 9, 2018. On April 24, 2018, the Company entered into a Consent Agreement with the DDTC to resolve these issues. The Consent Agreement has a four-year term and provides for: (i) a civil penalty of $30 million with $15 million of this amount suspended on the condition that the funds have or will be used for Department-approved Consent Agreement remedial compliance measures, (ii) the appointment of an external Special Compliance Official to oversee compliance with the Consent Agreement and the ITAR; (iii) two external audits of the Company’s ITAR compliance program; and (iv) continued implementation of ongoing remedial compliance measures and additional remedial compliance measures related to automated systems and ITAR compliance policies, procedures, and training. The Company expects recent and future investments in remedial compliance measures will be sufficient to cover the $15 million suspension amount. As part of the Consent Agreement DDTC acknowledged that the Company voluntarily disclosed certain alleged Arms Export Control Act and ITAR violations, which are resolved pursuant to the Consent Agreement, cooperated in, and instituted a number of compliance program improvements during the course of DDTC's review. In May 2017, the Company submitted an initial notification to DDTC regarding potential violations related to certain export classifications obtained through the commodity jurisdiction process and a final voluntary disclosure in August 2017. DDTC acknowledged the notification and at the request of DDTC, the Company executed a tolling agreement for this matter, suspending the statute of limitations through July 2018 . This matter was not resolved pursuant to the Consent Agreement identified above and remains under review. In June 2017, the United States Department of Commerce Bureau of Industry and Security informed the Company of additional export licensing requirements that restrict the Company’s ability to sell 9hz thermal products without a license to customers in China not identified on a list maintained by the United States Department of Commerce. This action was precipitated by concerns of potential diversion of some of the Company's products to prohibited end users and to countries subject to economic and other sanctions implemented by the United States. The United States Department of Commerce Bureau of Industry and Security subsequently favorably modified these restrictions to reduce the applicability of the restrictions to sales of FLIR's Tau camera cores (as opposed to finished products containing Tau camera cores) to customers in China not identified on a list maintained by the United States Department of Commerce and persons in a country other than those in EAR Country Group A:5 (Supplement No. 1 to Part 740 of the EAR). If the Company is found to have violated applicable rules and regulations with respect to customers and limitations on the end use of the Company’s products, the Company could be subject to substantial fines and penalties, suspension of existing licenses or other authorizations and/or loss or suspension of export privileges. The Company is unable to reasonably estimate the time it may take to resolve these matters or the amount or range of potential loss, penalty or other government action, if any, that may be incurred in connection with these matters. However, an unfavorable outcome could result in substantial fines and penalties or loss or suspension of export privileges or of particular authorizations that could be material to the Company’s financial position, results of operations or cash flows in and following the period in which such an outcome becomes estimable or known. Note 16. Contingencies - (Continued) SkyWatch Product Quality Matters In March 2016, the Company learned of potential quality concerns with respect to as many as 315 Level III and Level IV SkyWatch Surveillance Towers sold by FLIR and companies acquired by FLIR from 2002 through 2014. The Company notified customers who purchased the affected SkyWatch Towers of the potential concerns and, as a precautionary measure, also temporarily suspended production of all Level III and Level IV SkyWatch Towers pending the completion of its review and the implementation of any necessary remedial measures. During the quarter ended June 30, 2017, the Company identified the cause of these quality issues and began testing certain remedial solutions to repair the affected SkyWatch Towers. Testing of the remedial solution for certain of the product variations affected was also completed during the quarter ended June 30, 2017. Subsequent to the aforementioned identification and testing, customers who purchased the product configurations for which a remedial solution has been identified and tested were notified of their options to request modifications to their fielded units. While there still remains uncertainty related to estimating the costs associated with a potential remedy and number of units which may require such remedy, the Company currently estimates the range of potential loss to be between $6.3 million and $14 million . As no single amount within the range is a better estimate than any other amount within the range, the Company has recorded a liability of $6.3 million as of March 31, 2018. Factors underlying this estimated range of loss may change from time to time, and actual results may vary significantly from this estimate. Other Matters The Company is also subject to other legal and administrative proceedings, investigations, claims and litigation arising in the ordinary course of business not specifically identified above. In these identified matters and others not specifically identified, the Company records a liability with respect to a matter when management believes it is both probable that a liability has been incurred and the Company can reasonably estimate the amount of the loss. The Company believes it has recorded adequate provisions for any probable and estimable losses for matters in existence on the date hereof. The Company reviews these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter. While the outcome of each of these matters is currently not determinable, the Company does not expect that the ultimate resolution of any such matter will individually have a material adverse effect on the Company’s financial position, results of operations or cash flows. The costs to resolve all such matters may in the aggregate have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The provision for income taxes was as follows: Three Months Ended March 31, 2018 2017 Income tax provision $ 15,420 $ 12,993 Effective tax rate 28.2 % 23.4 % The effective tax rate for the three months ended March 31, 2018 , is higher than the United States Federal tax rate of 21.0 percent mainly due to state taxes, higher tax rates applied to income earned in foreign jurisdictions, accruals for non-deductible penalties, and other discrete items, offset by the effect of federal, foreign and state tax credits and excess tax benefits from stock compensation. New tax legislation, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”), was enacted on December 22, 2017. In connection with the Company's initial analysis of the impact of the Tax Act, the Company recorded provisional net tax expense of $94.4 million for the period ended December 31, 2017. This amount consists of net expense of $66.5 million for the transition tax and net expense of $12.8 million for the remeasurement of the Company's net deferred tax assets using the reduced United States tax rate. In addition, the Company also recorded net tax expense of $15.1 million for state income and foreign taxes estimated to be due upon distribution of approximately $1.0 billion of previously undistributed foreign earnings no longer permanently reinvested as of December 31, 2017. These provisional amounts may be impacted by the need for further analysis and future clarification and guidance regarding available tax accounting methods and elections, earnings and profits computations, foreign tax credit calculations, and state tax conformity to federal tax changes. As of March 31, 2018 , the Company has not completed the accounting for the tax effects of the Tax Act described above and there have been no material changes to estimated amounts. Note 17. Income Taxes - (Continued) As of March 31, 2018 , the Company had approximately $65.2 million of unrecognized tax benefits, all of which would affect the Company’s effective tax rate if recognized. The Company anticipates approximately $1.8 million of its net unrecognized tax benefits will be recognized within 12 months as the result of settlements or effective settlements with various tax authorities, the closure of certain audits and the lapse of the applicable statute of limitations. The Company classifies interest and penalties related to unrecognized tax benefits in the income tax provision. As of March 31, 2018 , the Company had $6.4 million of accrued interest and penalties related to unrecognized tax benefits that are recorded as current and non-current accrued income taxes on the Consolidated Balance Sheet. In 2016, the Company recorded discrete tax charges totaling $39.6 million related to the January 11, 2016 announcement from the European Commission of a decision concluding that certain rules under Belgian tax legislation were deemed to be incompatible with European Union regulations on state aid. As a result of this decision, the European Commission directed the Belgian Government to recover past taxes from certain entities, reflective of disallowed state aid, which impacts one of the Company’s international subsidiaries. The Belgian Government announced they have appealed this decision and filed action for an annulment in the General Court of the European Union, and in July 2016 the Company filed a separate appeal with the General Court of the European Union. In accordance with FASB ASC Topic 740, “Income Taxes,” the Company recorded discrete tax expense of $39.6 million during 2016, related to this matter and on January 10, 2017, received tax assessments from the Belgium government for a similar amount, which the Company has classified as current taxes payable on the Consolidated Balance Sheet as of March 31, 2018 . The Company has filed a complaint against the Belgian tax assessments, and the result of this complaint, the appeal with the General Court of the European Union, new information received from the Belgian Government, or other future events may cause the income tax provision associated with the decision to be entirely or partially reversed. At March 31, 2018 , the Company held the euro equivalent of $37.6 million in a restricted cash account. Those amounts, or portions thereof, could become unrestricted depending on the outcome of this matter. The Company currently has the following tax years open to examination by major taxing jurisdictions: Tax Years: United States Federal 2014 - 2016 State of California 2013 - 2016 State of Massachusetts 2013 - 2016 State of Oregon 2014 - 2016 Sweden 2013 - 2016 United Kingdom 2013 - 2016 Belgium 2011 - 2016

Operating Segments and Related

Operating Segments and Related Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Operating Business Units and Related Information	Operating Segments and Related Information Operating Segments The Company has three reportable operating segments as follows: Industrial Business Unit The Industrial business unit develops and manufactures thermal and visible-spectrum imaging camera cores and components that are utilized by third parties to create thermal, industrial, and other types of imaging systems. The segment also develops and manufactures devices that image, measure, and assess thermal energy, gases, and other environmental elements for industrial, commercial, and scientific applications, imaging payloads for Unmanned Aerial Systems ("UAS"), machine vision cameras, people counting and tracking, and thermal imaging solutions for use by consumers in the smartphone and mobile devices markets. Products include thermal imaging cameras, gas detection cameras, firefighting cameras, process automation cameras, and environmental test and measurement devices. Note 18. Operating Segments and Related Information - (Continued) Operating Segments - (Continued) Government and Defense Business Unit The Government & Defense business unit develops and manufactures enhanced imaging and recognition solutions for a wide variety of military, law enforcement, public safety, and other government customers around the world for the protection of borders, troops, and public welfare. The segment also develops and manufactures sensor instruments and integrated platform solutions for the detection, identification, and suppression of chemical, biological, radiological, nuclear, and explosives ("CBRNE") threats for military force protection, homeland security, and commercial applications. Offerings include airborne, land, maritime, and man-portable multi-spectrum imaging systems, radars, lasers, imaging components, integrated multi-sensor system platforms, CBRNE detectors, nano-class UAS solutions, and services related to these systems. Commercial Business Unit The Commercial business unit develops and manufactures cameras, video recording systems, and video management systems for use in commercial and critical infrastructure, electronics and imaging instruments for the recreational and commercial maritime market, intelligent traffic monitoring and signal control systems, and hand-held and weapon-mounted thermal imaging systems for use in a variety of applications. Products include thermal and visible-spectrum security cameras, digital and networked video recorders, and related software and accessories, a full suite of networked marine electronic systems including multi-function helm displays, navigational instruments, autopilots, radars, sonar systems, thermal and visible imaging systems, and communications equipment for boats of all sizes, traffic cameras, sensors and associated traffic management software, and thermal scopes and handheld thermal cameras. The Company’s chief operating decision maker ("CODM"), its Chief Executive Officer, evaluates each of its segments’ performance and allocates resources based on revenue and segment operating income. Intersegment revenues are recorded at cost and are eliminated in consolidation. The Company and each of its segments employ consistent accounting policies. The following tables present revenue, operating income, and assets for the three segments. Operating income as reviewed by the CODM is revenue less cost of goods sold and operating expenses, excluding general corporate expenses, amortization of purchased intangible assets, amortization of acquisition-related inventory step-up, loss on sale of a business and restructuring and other charges. Net accounts receivable, inventories and demonstration assets for the operating segments are regularly reviewed by management and are reported below as segment assets. All remaining assets, liabilities, capital expenditures, and depreciation are managed on a Company-wide basis. Operating segment information is as follows (in thousands): Three Months Ended March 31, 2018 2017 Revenue—External Customers: Industrial $ 170,658 $ 154,785 Government and Defense 159,331 138,180 Commercial 109,629 113,849 $ 439,618 $ 406,814 Revenue—Intersegments: Industrial $ 6,332 $ 4,941 Government and Defense 1,528 3,267 Commercial 4,481 3,800 Eliminations $ (12,341 ) $ (12,008 ) $ — $ — Segment operating income: Industrial $ 45,455 $ 42,818 Government and Defense 46,182 33,319 Commercial 14,472 9,988 $ 106,109 $ 86,125 Note 18. Operating Segments and Related Information - (Continued) Operating Segments - (Continued) A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in thousands): Three Months Ended March 31, 2018 2017 Consolidated segment operating income $ 106,109 $ 86,125 Unallocated corporate expenses (34,948 ) (18,223 ) Amortization of purchased intangible assets (5,987 ) (6,736 ) Amortization of acquisition-related inventory step-up — (1,992 ) Loss on sale of business (10,178 ) — Restructuring and other charges 496 (88 ) Consolidated earnings from operations 55,492 59,086 Interest and non-operating expenses, net (877 ) (3,522 ) Consolidated earnings before income taxes $ 54,615 $ 55,564 Unallocated corporate expenses include general corporate expenses, acquisition related costs and executive transition costs. March 31, December 31, 2018 2017 Operating segment assets: Net accounts receivable, inventories and demonstration assets: Industrial $ 277,682 $ 287,439 Government and Defense 327,722 332,044 Commercial 149,166 136,942 Total operating segments $ 754,570 $ 756,425 Assets not allocated: Cash, cash equivalents and restricted cash $ 452,138 $ 519,090 Assets held for sale, net — 67,344 Prepaid expenses and other current assets 62,499 44,360 Property and equipment, net 260,200 263,996 Deferred income taxes 15,924 21,001 Goodwill 918,292 909,811 Intangible assets, net 163,429 168,130 Other assets $ 76,948 $ 59,869 Total assets $ 2,704,000 $ 2,810,026 Revenue and Long-Lived Assets by Geographic Area Information related to revenue by significant geographical location, determined by the end customer, is as follows (in thousands): Three Months Ended March 31, 2018 2017 United States $ 225,444 $ 221,832 Europe 97,523 83,271 Asia 61,373 53,924 Middle East/Africa 36,407 25,142 Canada/Latin America 18,871 22,645 $ 439,618 $ 406,814 Note 18. Operating Segments and Related Information - (Continued) Revenue and Long-Lived Assets by Geographic Area - (Continued) Long-lived assets by significant geographic locations are as follows (in thousands): March 31, 2018 December 31, United States $ 858,816 $ 797,816 Europe 336,312 343,208 Other foreign 223,741 260,782 $ 1,418,869 $ 1,409,806 Major Customers Revenue derived from major customers is as follows (in thousands): Three Months Ended March 31, 2018 2017 United States government $ 117,901 $ 116,235

Business Acquisitions

Business Acquisitions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Business Acquisition	h 26, 2018, the Company completed a transaction to acquire 100% of the outstanding stock of a privately held technology company for approximately $7.1 million in cash. The allocation of the purchase price to identifiable intangible assets and goodwill is subject to the final determination of the valuation of the assets acquired and liabilities assumed. Goodwill and intangibles will be recorded in the Commercial business unit. The excess purchase price of approximately $6.8 million has been preliminarily reported in Other assets as of March 31, 2018. In addition, during the three months ended March 31, 2018, the Company also made a number of minority interest investments in private technology companies totaling approximately $9.5 million . Divestitures of the Consumer and Small and Medium-Sized Security Businesses On February 6, 2018 the Company sold the Consumer and Small and Medium-sized ("SMB") Security businesses within the Commercial segment for total cash consideration of approximately $28.8 million . As a result of this combined sale, the Company recognized a pre-tax loss of $10.2 million in the first quarter of 2018. This group of assets was previously classified as held for sale during the fourth quarter of 2017, when the Company recorded an estimated pre-tax loss on net assets held for sale of $ 23.6 million . This disposal does not qualify as discontinued operations and therefore, its operating results are included in the Company’s continuing operations for all periods presented through the date of the sale. Note 19. Business Acquisitions and Divestitures - (Continued) Divestitures of the Consumer and Small and Medium-Sized Security Businesses - (Continued- The carrying amounts of the assets and liabilities that were expected to be included in the sale were classified as held for sale as of December 31, 2017 as follows (in thousands): Accounts receivable, net $ 20,414 Inventories 43,050 Other current assets 1,031 Property and equipment, net 4,888 Intangible assets, net 8,359 Goodwill 13,090 Loss on assets (23,488 ) Total assets $ 67,344 Accounts payable and accrued expenses $ 39,544 Total liabilities $ 39,544

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 19, 2018 , the Company’s Board of Directors declared a quarterly dividend of $0.16 per share on its common stock, payable on June 8, 2018 , to shareholders of record as of the close of business on May 25, 2018 . The total cash payment of this dividend will be approximately $22.0 million . On April 24, 2018, the Company entered into a Consent Agreement with the DDTC to resolve various alleged violations of the ITAR. For additional information, refer to Note 16, "Contingencies."

Basis of Presentation and Sig27

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash" ("ASU 2016-18"). Effective January 1, 2018, the Company adopted ASU 2016-18 on a retrospective basis. This update clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows. The amendment requires restricted cash be included in an entity's cash and cash-equivalent balances in the statement of cash flows and also requires an entity to disclose information about the nature of the restrictions. Further, a reconciliation between the statement of financial position and the statement of cash flows must be disclosed when the statement of financial position includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. The Company's adoption of ASU 2016-18 did not have a material impact on the consolidated financial statements. FASB ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business" ("ASU 2017-01"). Effective January 1, 2018, the Company adopted ASU 2017-01. The amendments in this update clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company's adoption of ASU 2017-01 did not have a material impact on the consolidated financial statements. FASB ASU No. 2014-09, "Revenue - Revenue from Contracts with Customers" ("ASU 2014-09"). Effective January 1, 2018, the Company adopted ASU 2014-09 and all the related amendments ("new revenue standard" or "ASC 606") using the modified retrospective method to those contracts not yet completed as of January 1, 2018. As a result, the Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings in the amount of approximately $1.0 million as of January 1, 2018. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company expects the impact of the adoption of the new standard to be immaterial to net income on an ongoing basis. FASB ASU No. 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" ("ASU 2016-16"). Effective January 1, 2018, the Company adopted ASU 2016-16, which eliminates the exception of recognizing, at the time of transfer, current and deferred income taxes for intra-entity asset transfers other than inventory. This new standard has been applied on a modified retrospective transition basis with an adjustment to the opening balance of retained earnings in the amount of approximately $5.6 million as of January 1, 2018. Note 1. Basis of Presentation - (Continued) Recently Adopted Accounting Pronouncements - (Continued) The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet for the adoption of ASU 2014-09, "Revenue - Revenue from Contracts with Customers" and ASU 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" were as follows (in thousands): Balance at December 31, 2017 Adjustments Due to ASU 2014-09 Adjustments Due to ASU 2016-16 Balance at January 1, 2018 Assets Accounts receivable, net $ 346,687 $ 981 $ — $ 347,668 Inventories 372,183 (524 ) — 371,659 Other assets 59,869 — (1,005 ) 58,864 Liabilities Deferred revenue 25,614 (788 ) — 24,826 Deferred income taxes 12,496 290 1,422 14,208 Pension and other long-term liabilities 59,872 — (8,030 ) 51,842 Shareholders' Equity Retained earnings 1,856,756 955 5,603 1,863,314 In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet was as follows (in thousands): For the Period Ended March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Income Statement Revenue $ 439,618 $ 438,971 $ 647 Cost of goods sold 221,704 221,610 94 Income tax provision 15,420 15,301 119 Net earnings 39,195 38,761 434 March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Balance Sheet Assets Accounts receivable, net $ 329,792 $ 328,164 $ 1,628 Inventories 385,906 386,524 (618 ) Liabilities Deferred revenue 25,224 26,012 (788 ) Deferred income taxes 15,732 15,323 409 Equity Retained earnings 1,880,277 1,878,888 1,389 For additional disclosures required by the new revenue standard see Note 2, "Revenue."

Basis of Presentation and Sig28

Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements Impact	The cumulative effect of the changes made to the Company's consolidated January 1, 2018 balance sheet for the adoption of ASU 2014-09, "Revenue - Revenue from Contracts with Customers" and ASU 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" were as follows (in thousands): Balance at December 31, 2017 Adjustments Due to ASU 2014-09 Adjustments Due to ASU 2016-16 Balance at January 1, 2018 Assets Accounts receivable, net $ 346,687 $ 981 $ — $ 347,668 Inventories 372,183 (524 ) — 371,659 Other assets 59,869 — (1,005 ) 58,864 Liabilities Deferred revenue 25,614 (788 ) — 24,826 Deferred income taxes 12,496 290 1,422 14,208 Pension and other long-term liabilities 59,872 — (8,030 ) 51,842 Shareholders' Equity Retained earnings 1,856,756 955 5,603 1,863,314 In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet was as follows (in thousands): For the Period Ended March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Income Statement Revenue $ 439,618 $ 438,971 $ 647 Cost of goods sold 221,704 221,610 94 Income tax provision 15,420 15,301 119 Net earnings 39,195 38,761 434 March 31, 2018 As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Balance Sheet Assets Accounts receivable, net $ 329,792 $ 328,164 $ 1,628 Inventories 385,906 386,524 (618 ) Liabilities Deferred revenue 25,224 26,012 (788 ) Deferred income taxes 15,732 15,323 409 Equity Retained earnings 1,880,277 1,878,888 1,389

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by geographical region and operating segment for the three-month periods ended March 31, 2018 and 2017 (in thousands). Three Months Ended March 31, 2018 Industrial Government and Defense Commercial Total United States $ 86,296 $ 95,133 $ 44,015 $ 225,444 Europe 35,543 17,203 44,777 97,523 Asia 34,057 18,351 8,965 61,373 Middle East/Africa 3,665 27,183 5,559 36,407 Canada/Latin America 11,097 1,461 6,313 18,871 $ 170,658 $ 159,331 $ 109,629 $ 439,618 Three Months Ended March 31, 2017 Industrial Government and Defense Commercial Total United States $ 76,974 $ 91,233 $ 53,625 $ 221,832 Europe 33,258 12,082 37,931 83,271 Asia 33,225 12,021 8,678 53,924 Middle East/Africa 2,332 18,225 4,585 25,142 Canada/Latin America 8,996 4,619 9,030 22,645 $ 154,785 $ 138,180 $ 113,849 $ 406,814

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Share-based Compensation [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	The following table sets forth the stock-based compensation expense recognized in the Consolidated Statements of Income (in thousands): Three Months Ended March 31, 2018 2017 Cost of goods sold $ 695 $ 400 Research and development 1,409 1,177 Selling, general and administrative 3,827 4,669 Stock-based compensation expense before income taxes $ 5,931 $ 6,246 Stock-based compensation expense capitalized in the Consolidated Balance Sheets is as follows (in thousands): March 31, 2018 2017 Capitalized in inventory $ 1,057 $ 902

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 5,931	$ 6,246
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expese	695	400
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expese	1,409	1,177
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expese	$ 3,827	$ 4,669

Net Earnings Per Share Net Ea32

Net Earnings Per Share Net Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net Earnings Per Share The following table sets forth the reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share (in thousands): Three Months Ended March 31, 2018 2017 Numerator for earnings per share: Net earnings for basic and diluted earnings per share $ 39,195 $ 42,571 Denominator for earnings per share: Weighted average number of common shares outstanding 138,504 136,359 Assumed exercise of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method 2,490 1,880 Diluted shares outstanding 140,994 138,239

Derivative Financial Instrume33

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional amounts of outstanding foreign currency forward contracts by currency	The table below presents the net notional amounts of the Company’s outstanding foreign currency forward contracts by currency (in thousands): March 31, December 31, 2018 2017 European euro $ 119,216 $ 34,800 British pound sterling 20,392 34,317 Canadian dollar 17,863 7,426 Swedish kroner 12,467 59,373 Brazilian real 7,708 7,794 Norwegian kroner 6,499 3,095 Australian dollar 768 2,817 Japanese yen 239 3,362 $ 185,152 $ 152,984 The carrying amounts of the foreign exchange contracts included in the Consolidated Balance Sheets are as follows (in thousands): March 31, 2018 December 31, 2017 Prepaid Expenses and Other Current Assets Other Current Liabilities Prepaid Expenses and Other Current Assets Other Current Liabilities Foreign exchange contracts $ 78 $ 2,623 $ 1,760 $ 579

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following (in thousands): March 31, December 31, 2018 2017 Raw material and subassemblies $ 215,479 $ 210,615 Work-in-progress 54,310 47,400 Finished goods 116,117 114,168 $ 385,906 $ 372,183

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value and the activity	The carrying value of goodwill and the activity for the three months ended March 31, 2018 are as follows (in thousands): Balance, December 31, 2017 $ 909,811 Currency translation adjustments 8,481 Balance, March 31, 2018 $ 918,292

Accrued Product Warranties (Tab

Accrued Product Warranties (Tables)	3 Months Ended
	Mar. 31, 2018
Product Warranties Disclosures [Abstract]
Summary of Warranty Liability and Activity	The following table summarizes the Company’s warranty liability and activity (in thousands): Three Months Ended March 31, 2018 2017 Accrued product warranties, beginning of period $ 18,052 $ 20,845 Amounts paid for warranty services (3,278 ) (4,629 ) Warranty provisions for products sold 3,536 3,709 Currency translation adjustments and other 202 46 Accrued product warranties, end of period $ 18,512 $ 19,971 Current accrued product warranties, end of period $ 15,319 $ 16,642 Long-term accrued product warranties, end of period $ 3,193 $ 3,329

Long-Term Debt Long-Term Debt (

Long-Term Debt Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-term debt	Long-term debt consists of the following (in thousands): March 31, December 31, 2018 2017 Unsecured notes $ 425,000 $ 425,000 Unamortized discounts and issuance costs of unsecured notes (4,000 ) (4,316 ) Long-term debt $ 421,000 $ 420,684

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock and additional paid-in capital activity	The following table summarizes the common stock and additional paid-in capital activity during the three months ended March 31, 2018 (in thousands): Common stock and additional paid-in capital, December 31, 2017 $ 91,162 Common stock issued pursuant to stock-based compensation plans, net 3,232 Stock-based compensation 5,926 Repurchase of common stock (94,956 ) Common stock and additional paid-in capital, March 31, 2018 $ 5,364

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Tax years open to examination by major taxing jurisdictions	The Company currently has the following tax years open to examination by major taxing jurisdictions: Tax Years: United States Federal 2014 - 2016 State of California 2013 - 2016 State of Massachusetts 2013 - 2016 State of Oregon 2014 - 2016 Sweden 2013 - 2016 United Kingdom 2013 - 2016 Belgium 2011 - 2016

Income Taxes Income Taxes (tabl

Income Taxes Income Taxes (table 2)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The provision for income taxes was as follows: Three Months Ended March 31, 2018 2017 Income tax provision $ 15,420 $ 12,993 Effective tax rate 28.2 % 23.4 %

Operating Segments and Relate41

Operating Segments and Related Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Operating Business Unit Information	Operating segment information is as follows (in thousands): Three Months Ended March 31, 2018 2017 Revenue—External Customers: Industrial $ 170,658 $ 154,785 Government and Defense 159,331 138,180 Commercial 109,629 113,849 $ 439,618 $ 406,814 Revenue—Intersegments: Industrial $ 6,332 $ 4,941 Government and Defense 1,528 3,267 Commercial 4,481 3,800 Eliminations $ (12,341 ) $ (12,008 ) $ — $ — Segment operating income: Industrial $ 45,455 $ 42,818 Government and Defense 46,182 33,319 Commercial 14,472 9,988 $ 106,109 $ 86,125 Note 18. Operating Segments and Related Information - (Continued) Operating Segments - (Continued) A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in thousands): Three Months Ended March 31, 2018 2017 Consolidated segment operating income $ 106,109 $ 86,125 Unallocated corporate expenses (34,948 ) (18,223 ) Amortization of purchased intangible assets (5,987 ) (6,736 ) Amortization of acquisition-related inventory step-up — (1,992 ) Loss on sale of business (10,178 ) — Restructuring and other charges 496 (88 ) Consolidated earnings from operations 55,492 59,086 Interest and non-operating expenses, net (877 ) (3,522 ) Consolidated earnings before income taxes $ 54,615 $ 55,564 Unallocated corporate expenses include general corporate expenses, acquisition related costs and executive transition costs.
Business unit assets	March 31, December 31, 2018 2017 Operating segment assets: Net accounts receivable, inventories and demonstration assets: Industrial $ 277,682 $ 287,439 Government and Defense 327,722 332,044 Commercial 149,166 136,942 Total operating segments $ 754,570 $ 756,425 Assets not allocated: Cash, cash equivalents and restricted cash $ 452,138 $ 519,090 Assets held for sale, net — 67,344 Prepaid expenses and other current assets 62,499 44,360 Property and equipment, net 260,200 263,996 Deferred income taxes 15,924 21,001 Goodwill 918,292 909,811 Intangible assets, net 163,429 168,130 Other assets $ 76,948 $ 59,869 Total assets $ 2,704,000 $ 2,810,026
By Significant Geographical Location	Revenue and Long-Lived Assets by Geographic Area Information related to revenue by significant geographical location, determined by the end customer, is as follows (in thousands): Three Months Ended March 31, 2018 2017 United States $ 225,444 $ 221,832 Europe 97,523 83,271 Asia 61,373 53,924 Middle East/Africa 36,407 25,142 Canada/Latin America 18,871 22,645 $ 439,618 $ 406,814 Note 18. Operating Segments and Related Information - (Continued) Revenue and Long-Lived Assets by Geographic Area - (Continued) Long-lived assets by significant geographic locations are as follows (in thousands): March 31, 2018 December 31, United States $ 858,816 $ 797,816 Europe 336,312 343,208 Other foreign 223,741 260,782 $ 1,418,869 $ 1,409,806
Revenue Derived from Major Customers	Major Customers Revenue derived from major customers is as follows (in thousands): Three Months Ended March 31, 2018 2017 United States government $ 117,901 $ 116,235

Business Acquisitions (Tables)

Business Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2018
Business Acquisition [Line Items]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Divestitures of the Consumer and Small and Medium-Sized Security Businesses On February 6, 2018 the Company sold the Consumer and Small and Medium-sized ("SMB") Security businesses within the Commercial segment for total cash consideration of approximately $28.8 million . As a result of this combined sale, the Company recognized a pre-tax loss of $10.2 million in the first quarter of 2018. This group of assets was previously classified as held for sale during the fourth quarter of 2017, when the Company recorded an estimated pre-tax loss on net assets held for sale of $ 23.6 million . This disposal does not qualify as discontinued operations and therefore, its operating results are included in the Company’s continuing operations for all periods presented through the date of the sale. Note 19. Business Acquisitions and Divestitures - (Continued) Divestitures of the Consumer and Small and Medium-Sized Security Businesses - (Continued- The carrying amounts of the assets and liabilities that were expected to be included in the sale were classified as held for sale as of December 31, 2017 as follows (in thousands): Accounts receivable, net $ 20,414 Inventories 43,050 Other current assets 1,031 Property and equipment, net 4,888 Intangible assets, net 8,359 Goodwill 13,090 Loss on assets (23,488 ) Total assets $ 67,344 Accounts payable and accrued expenses $ 39,544 Total liabilities $ 39,544
Disposal Groups, Including Discontinued Operations [Table Text Block]	The carrying amounts of the assets and liabilities that were expected to be included in the sale were classified as held for sale as of December 31, 2017 as follows (in thousands): Accounts receivable, net $ 20,414 Inventories 43,050 Other current assets 1,031 Property and equipment, net 4,888 Intangible assets, net 8,359 Goodwill 13,090 Loss on assets (23,488 ) Total assets $ 67,344 Accounts payable and accrued expenses $ 39,544 Total liabilities $ 39,544

Basis of Presentation and Sig43

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Balance Sheet
Accounts receivable, net	$ 329,792		$ 347,668	$ 346,687
Inventories	385,906		371,659	372,183
Other assets	76,948		58,864	59,869
Deferred revenue	25,224		24,826	25,614
Deferred income taxes	15,732		14,208	12,496
Pension and other long term liabilities	67,249		51,842	59,872
Retained earnings	1,880,277		1,863,314	1,856,756
Income Statement
Revenue	439,618	$ 406,814
Cost of goods sold	221,704	215,493
Income tax provision	15,420	12,993
Net earnings	39,195	$ 42,571
Calculated under Revenue Guidance in Effect before Topic 606
Balance Sheet
Accounts receivable, net	328,164			346,687
Inventories	386,524			372,183
Other assets				59,869
Deferred revenue	26,012			25,614
Deferred income taxes	15,323			12,496
Pension and other long term liabilities				59,872
Retained earnings	1,878,888			$ 1,856,756
Income Statement
Revenue	438,971
Cost of goods sold	221,610
Income tax provision	15,301
Net earnings	38,761
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Balance Sheet
Accounts receivable, net	1,628		981
Inventories	(618)		(524)
Other assets			0
Deferred revenue	(788)		(788)
Deferred income taxes	409		290
Pension and other long term liabilities			0
Retained earnings	1,389		955
Income Statement
Revenue	647
Cost of goods sold	94
Income tax provision	119
Net earnings	$ 434
Restatement Adjustment | Accounting Standards Update 2016-16
Balance Sheet
Accounts receivable, net			0
Inventories			0
Other assets			(1,005)
Deferred revenue			0
Deferred income taxes			1,422
Pension and other long term liabilities			(8,030)
Retained earnings			$ 5,603

Revenue Revenue (Details)

Revenue Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 439,618	$ 406,814
United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	225,444	221,832
Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	97,523	83,271
Asia
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	61,373	53,924
Middle East/Africa
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	36,407	25,142
Canada/Latin America
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	18,871	22,645
Industrial
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	170,658	154,785
Industrial | United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	86,296	76,974
Industrial | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	35,543	33,258
Industrial | Asia
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	34,057	33,225
Industrial | Middle East/Africa
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3,665	2,332
Industrial | Canada/Latin America
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	11,097	8,996
Government and Defense
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	159,331	138,180
Government and Defense | United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	95,133	91,233
Government and Defense | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	17,203	12,082
Government and Defense | Asia
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	18,351	12,021
Government and Defense | Middle East/Africa
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	27,183	18,225
Government and Defense | Canada/Latin America
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,461	4,619
Commercial
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	109,629	113,849
Commercial | United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	44,015	53,625
Commercial | Europe
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	44,777	37,931
Commercial | Asia
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	8,965	8,678
Commercial | Middle East/Africa
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	5,559	4,585
Commercial | Canada/Latin America
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 6,313	$ 9,030

Revenue Revenue (Details textua

Revenue Revenue (Details textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 8.4	$ 14.5
Contract liabilities	13.5	$ 13.8
Contract liability, revenue recognized	28.4
Remaining performance obligation	$ 50
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation, expected timing of satisfaction, percent	53.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year

Stock-based compensation Stock-

Stock-based compensation Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation [Abstract]
Capitalized in inventory	$ 1,057	$ 902

Stock-based Compensation (Det47

Stock-based Compensation (Detail textual) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Share-based Compensation [Abstract]
Unrecognized stock-based compensation costs, net of estimated forfeiture	$ 35.6
Weighted average period of unrecognized stock-based compensation costs, net of estimated forfeiture	2 years

Net Earnings Per Share Net Ea48

Net Earnings Per Share Net Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income (loss) Available to Common Stockholders, Basic	$ 39,195	$ 42,571
Weighted Average Number of Shares Outstanding, Basic	138,504	136,359
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	2,000	2,000
Weighted Average Number of Shares Outstanding, Diluted	140,994	138,239

Net Earnings Per Share Net Ea49

Net Earnings Per Share Net Earnings Per Share (Detail textual)	3 Months Ended
	Mar. 31, 2017shares
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	18,000

Fair Value of Financial Instr50

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	$ 66.2	$ 140.7
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior unsecured notes	$ 422.6	$ 427.5

Derivative Financial Instrume51

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	$ 185,152	$ 152,984
Swedish Kronor
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	12,467	59,373
Canadian Dollar
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	17,863	7,426
Brazil, Brazil Real
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	7,708	7,794
Australian Dollar
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	768	2,817
United Kingdom, Pounds
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	20,392	34,317
Euro
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	119,216	34,800
Japanese Yen
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	239	3,362
Norway, Krone
Derivative [Line Items]
Notional amounts of foreign currency forward contracts	$ 6,499	$ 3,095

Derivative Financial Instrume52

Derivative Financial Instruments (Details 2) - Foreign exchange contracts - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Current Assets
Derivatives [Line Items]
Carrying amount of derivative asset	$ 78	$ 1,760
Other Current Liabilities
Derivatives [Line Items]
Carrying amount of derivative liability	$ 2,623	$ 579

Derivative Financial Instrume53

Derivative Financial Instruments (Details 4) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gain (loss)	$ (4.7)	$ (1)

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for Doubtful Accounts Receivable	$ 8,054	$ 7,630

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw material and subassemblies	$ 215,479		$ 210,615
Work-in-progress	54,310		47,400
Finished goods	116,117		114,168
Total inventories	$ 385,906	$ 371,659	$ 372,183

Property and Equipment (Details

Property and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Accrumulated Depreciation	$ 315,533	$ 306,166

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Goodwill [Roll Forward]
Goodwill, Translation Adjustments	$ 8,481

Intangible Assets Intangible As

Intangible Assets Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 90.8	$ 84.5

Credit Agreement (Details)

Credit Agreement (Details) - USD ($) $ in Millions	Feb. 08, 2011	Mar. 31, 2018
Line of Credit Facility [Line Items]
Available revolving credit		485,141
Bank Of America February Two Thousand Eleven New Credit Agreement
Line of Credit Facility [Line Items]
Revolving line of credit	500,000
Letters of credit outstanding		$ 14.9

Accrued Product Warranties (Det

Accrued Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Movement in Standard Product Warranty Accrual [Roll Forward]
Accrued product warranties, beginning of year	$ 18,052	$ 20,845
Amounts paid for warranty services	(3,278)	(4,629)
Warranty provisions for products sold	3,536	3,709
Currency translation adjustments and other	202	46
Accrued product warranties, end of year	18,512	19,971
Current accrued product warranties, end of year	15,319	16,642	$ 15,024
Long-term accrued product warranties, end of ear	$ 3,193	$ 3,329

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized discounts and issuance costs of unsecured notes			$ 4,000	$ 4,316
Long-term debt			$ 421,000	420,684
Senior unsecured notes, maturity date			Jun. 15, 2021
Unsecured notes
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 425,000	$ 425,000
Three Point One Two Five Percent Senior Unsecured Notes Due June Fifteenth Twenty Twenty Five [Domain]
Debt Instrument [Line Items]
Senior unsecured notes, issued amount	$ 425,000	$ 425,000
Senior unsecured notes, interest rate	3.125%	3.125%
Senior unsecured notes, proceeds	$ 421,000
Term of agreement		5 years

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common Stocks, Including Additional Paid in Capital	$ 5,364	$ 91,162
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	3,232
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	5,926
Stock Repurchased During Period, Value	$ (94,956)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.16
Dividends, Common Stock, Cash	$ 22,200

Shareholders' Equity Sharehol63

Shareholders' Equity Shareholders' Equity Note (Detail textual) (Details) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)shares
Stockholders Equity Note [Line Items]
Stock Repurchased During Period, Shares	1.7
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	15
Accelerated share repurchase program [Member]
Stockholders Equity Note [Line Items]
Stock Repurchased During Period, Shares	0.8
Stock Repurchase Program, Authorized Amount | $	$ 50

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Oct. 27, 2010	Apr. 24, 2018	Mar. 31, 2018
Loss Contingencies [Line Items]
Litigation settlement payment	$ 3
Product Quality Matters
Loss Contingencies [Line Items]
Loss contingency accrual			$ 6.3
Product Quality Matters | Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss			6.3
Product Quality Matters | Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss			$ 14
Subsequent Event | Civil Penalty | Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		$ 30
Loss contingency, possible loss suspension		$ 15

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Current tax expense (benefit):
Income tax provision	$ 15,420	$ 12,993
Current income tax expense (benefit)	$ 1,800
Effective tax rate	28.20%	23.40%
Deferred tax expense (benefit):
Deferred income taxes	$ 4,574	$ 192
Deferred Income Tax Expense (Benefit), Excluding Discontinued Operations	$ 65,200
Effective tax rate	28.20%	23.40%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018
Income Taxes [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions	$ 94.4	$ 39.6
Undistributed Earnings of Foreign Subsidiaries		$ 1,000
Restricted Cash			$ 37.6
Transition [Member]
Income Taxes [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions	66.5
remeasurement new tax rate [Member]
Income Taxes [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions	12.8
State and Foreign on undistributed foreign earnings [Member]
Income Taxes [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions	$ 15.1

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 6.4
Effective tax rate	28.20%	23.40%

Operating Segments and Relate68

Operating Segments and Related Information (Details)	3 Months Ended
	Mar. 31, 2018segment
Segment Reporting [Abstract]
Number of operating business units	3

Operating Segments and Relate69

Operating Segments and Related Information (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 439,618	$ 406,814
Intersegment revenue	0	0
Earnings from operations	55,492	59,086
Government and Defense
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	159,331	138,180
Intersegment revenue	(1,528)	(3,267)
Earnings from operations	46,182	33,319
Industrial
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	170,658	154,785
Intersegment revenue	(6,332)	(4,941)
Earnings from operations	45,455	42,818
Commercial
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	109,629	113,849
Intersegment revenue	(4,481)	(3,800)
Earnings from operations	14,472	9,988
Eliminations
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Intersegment revenue	(12,341)	(12,008)
Total Segments [Member]
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	439,618	406,814
Earnings from operations	$ 106,109	$ 86,125

Operating Segments and Relate70

Operating Segments and Related Information Operating Segments and related information (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Unallocated corporate expense	$ (34,948)	$ (18,223)
Amortization of purchased Intangible Assets	(5,987)	(6,736)
Amortization of acquisition-related inventory step-up	0	(1,992)
Loss on sale of business	10,178	0
Other	(496)	(88)
Consolidated earnings from operations	55,492	59,086
Other Nonoperating Expense	(877)	(3,522)
Consolidated earnings before income taxes	54,615	55,564
Total Segments [Member]
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Consolidated segment operating income	106,109	86,125
Total Segments [Member]
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Consolidated earnings from operations	$ 106,109	$ 86,125

Operating Segments and Relate71

Operating Segments and Related Information (Details 4) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Segment Reporting, Asset Reconciling Item [Line Items]
BU assets (accounts receivable, inventory and demo assets, Net)	$ 754,570		$ 756,425
Cash, cash equivalents and restricted cash	452,138		519,090	$ 397,436	$ 361,349
Assets held for sale, net	0		67,344
Prepaid expenses and other current assets	62,499		44,360
Property and equipment, net	260,200		263,996
Deferred Income Tax Assets, Net	15,924		21,001
Goodwill	918,292		909,811
Intangible assets, net	163,429		168,130
Other assets	76,948	$ 58,864	59,869
Assets	2,704,000		2,810,026
Government and Defense
Segment Reporting, Asset Reconciling Item [Line Items]
BU assets (accounts receivable, inventory and demo assets, Net)	327,722		332,044
Industrial
Segment Reporting, Asset Reconciling Item [Line Items]
BU assets (accounts receivable, inventory and demo assets, Net)	277,682		287,439
Commercial
Segment Reporting, Asset Reconciling Item [Line Items]
BU assets (accounts receivable, inventory and demo assets, Net)	$ 149,166		$ 136,942

Operating Segments and Relate72

Operating Segments and Related Information (Details 5) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 439,618	$ 406,814
United States
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	225,444	221,832
Europe [Member]
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	97,523	83,271
Asia [Member]
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	61,373	53,924
Mid_East/Africa [Member]
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	36,407	25,142
Canada/Latin America
Business Unit Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 18,871	$ 22,645

Operating Segments and Relate73

Operating Segments and Related Information (Details 6) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Business Unit Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	$ 1,418,869	$ 1,409,806
United States
Business Unit Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	858,816	797,816
Europe [Member]
Business Unit Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	336,312	343,208
Other Geographic Region [Member]
Business Unit Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	$ 223,741	$ 260,782

Operating Segments and Relate74

Operating Segments and Related Information (Details 7) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Major Customer [Line Items]
Revenue	$ 439,618	$ 406,814
United States government
Revenue, Major Customer [Line Items]
Revenue	$ 117,901	$ 116,235

Business Acquisitions (Detail)

Business Acquisitions (Detail) - USD ($) $ in Thousands	Mar. 26, 2018	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill		$ 918,292	$ 909,811
Fishing Hot Spots [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 7,100
Payments for Purchase of Other Assets	$ 6,800
Other minority interest investments [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 9,500

Business Acquisitions (Details

Business Acquisitions (Details 1) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 918,292	$ 909,811

Business Acquisitions (Detail77

Business Acquisitions (Details textual) - USD ($) $ in Thousands	Mar. 26, 2018	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill		$ 918,292	$ 909,811
Fishing Hot Spots [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 7,100
Other minority interest investments [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 9,500
Consumer and Small and Medium-Sized Security Business [Member] | Held-for-sale [Member]
Business Acquisition [Line Items]
Carrying amount of disposal group			$ 28,800

Business Acquisitions and Dives

Business Acquisitions and Divestitures Divestitures Textual (Detail) - Held-for-sale [Member] - Consumer and Small and Medium-Sized Security Business [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying amount of disposal group		$ 28.8
Pre-tax loss on net asset held for sale	$ 10.2	$ 23.6

Business Acquisitions and Div79

Business Acquisitions and Divestitures Divestitures (Details 2) - Consumer and Small and Medium-Sized Security Business [Member] - Held-for-sale [Member] $ in Thousands	3 Months Ended
	Dec. 31, 2017USD ($)
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Accounts receivable, Net	$ 20,414
Inventory	43,050
Other current assets	1,031
Property and equipment, net	4,888
Intangible assets, net	8,359
Goodwill	13,090
Loss on assets	(23,488)
Assets held for sale, net	67,344
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Accounts payable and accrued expenses	39,544
Liabilities held for sale	$ 39,544

Subsequent Events (Details)

Subsequent Events (Details) - Dividends [Domain] - USD ($) $ / shares in Units, $ in Millions	Jun. 08, 2018	May 25, 2018	Apr. 19, 2018
Subsequent Event [Line Items]
Dividends Payable, Date Declared			Apr. 19, 2018
Quarterly dividend, value per share	$ 0.16
Quarterly dividend, date to be paid	Jun. 8, 2018
Quarterly dividend, date of record		May 25, 2018
Quarterly dividend, amount declared	$ 22

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Revenue	$ 439,618	$ 406,814
Gross profit	217,914	191,321
Net earnings	$ 39,195	$ 42,571
Basic earnings per share:
Basic earnings per share (in dollars per share)	$ 0.28	$ 0.31
Diluted earnings per share:
Diluted earnings per share (in dollars per share)	$ 0.28	$ 0.31