Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 29, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | 3D SYSTEMS CORP | |
Entity Central Index Key | 910638 | |
Trading Symbol | ddd | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 111,797,093 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $199,896 | $284,862 |
Accounts receivable, net of allowance for doubtful accounts of $13,275 (2015) and $10,300 (2014) | 153,107 | 168,441 |
Inventories, net | 114,602 | 96,645 |
Prepaid expenses and other current assets | 21,247 | 15,769 |
Current deferred income tax asset | 18,755 | 14,973 |
Total current assets | 507,607 | 580,690 |
Property and equipment, net | 82,737 | 81,881 |
Intangible assets, net | 293,481 | 251,561 |
Goodwill | 607,570 | 589,537 |
Long term deferred income tax asset | 878 | 816 |
Other assets, net | 21,154 | 21,485 |
Total assets | 1,513,427 | 1,525,970 |
Current liabilities: | ||
Current portion of debt capitalized lease obligations | 563 | 684 |
Accounts payable | 58,717 | 64,378 |
Accrued and other liabilities | 54,426 | 44,219 |
Customer deposits | 7,898 | 6,946 |
Deferred revenue | 37,769 | 32,264 |
Total current liabilities | 159,373 | 148,491 |
Long term portion of capitalized lease obligations | 8,581 | 8,905 |
Long term deferred income tax liability | 31,388 | 30,679 |
Other liabilities | 33,756 | 34,898 |
Total liabilities | 233,098 | 222,973 |
Redeemable noncontrolling interests | 8,872 | 8,872 |
Stockholders’ equity: | ||
Common stock, $0.001 par value, authorized 220,000 shares; issued 112,301 (2015) and 112,233 (2014) | 112 | 112 |
Additional paid-in capital | 1,256,452 | 1,245,462 |
Treasury stock, at cost: 421 shares (2015) and 709 shares (2014) | -228 | -374 |
Accumulated earnings | 58,943 | 72,124 |
Accumulated other comprehensive loss | -44,973 | -24,406 |
Total 3D Systems Corporation stockholders' equity | 1,270,306 | 1,292,918 |
Noncontrolling interests | 1,151 | 1,207 |
Total stockholders' equity | 1,271,457 | 1,294,125 |
Total liabilities, redeemable noncontrolling interests and stockholders' equity | $1,513,427 | $1,525,970 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $13,275 | $10,300 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 220,000,000 | 220,000,000 |
Common stock, shares issued | 112,301,000 | 112,233,000 |
Treasury stock, shares | 421,000 | 709,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Operations And Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenue: | ||
Products | $99,822 | $101,194 |
Services | 60,900 | 46,564 |
Total revenue | 160,722 | 147,758 |
Cost of sales: | ||
Products | 50,476 | 46,816 |
Services | 31,262 | 25,470 |
Total cost of sales | 81,738 | 72,286 |
Gross profit | 78,984 | 75,472 |
Operating expenses: | ||
Selling, general and administrative | 74,292 | 48,720 |
Research and development | 22,216 | 17,235 |
Total operating expenses | 96,508 | 65,955 |
Income (loss) from operations | -17,524 | 9,517 |
Interest and other expense, net | 2,567 | 1,048 |
Income (loss) before income taxes | -20,091 | 8,469 |
Provision (benefit) for income taxes | -6,943 | 3,559 |
Net income (loss) | -13,148 | 4,910 |
Less net income attributable to noncontrolling interests | 33 | 33 |
Net income (loss) attributable to 3D Systems Corporation | -13,181 | 4,877 |
Other comprehensive income (loss): | ||
Pension adjustments, net of taxes | 265 | 19 |
Foreign currency translation loss | -20,957 | -13 |
Other comprehensive income (loss) | -20,692 | 6 |
Less foreign currency translation gain (loss) attributable to noncontrolling interests | -125 | 26 |
Other comprehensive income (loss) attributable to 3D Systems Corporation | -20,567 | -20 |
Comprehensive income (loss) | -33,840 | 4,916 |
Less comprehensive income (loss) attributable to noncontrolling interests | -92 | 59 |
Comprehensive income (loss) attributable to 3D Systems Corporation | ($33,748) | $4,857 |
Net income (loss) per share available to 3D Systems common stockholders – basic and diluted | ($0.12) | $0.05 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | ||
Cash flows from operating activities: | ||||
Net income (loss) | ($13,148) | $4,910 | ||
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: | ||||
Benefit of deferred income taxes | -10,254 | -7,610 | ||
Depreciation and amortization | 19,470 | 12,486 | ||
Non-cash interest on convertible notes | 95 | |||
Provision for bad debts | 2,881 | 1,341 | ||
Stock-based compensation | 10,329 | 7,276 | ||
Loss on the disposition of property and equipment | 253 | 286 | ||
Changes in operating accounts: | ||||
Accounts receivable | 17,986 | -11,402 | ||
Inventories | -20,011 | -13,034 | ||
Prepaid expenses and other current assets | -2,784 | -7,375 | ||
Accounts payable | -5,815 | 4,267 | ||
Accrued liabilities | -4,373 | 8,273 | ||
Customer deposits | 1,070 | 976 | ||
Deferred revenue | 2,535 | -396 | ||
Other operating assets and liabilities | 924 | 215 | ||
Net cash provided by (used in) operating activities | -937 | 308 | ||
Cash flows from investing activities: | ||||
Purchases of property and equipment | -3,693 | -3,551 | ||
Additions to license and patent costs | -203 | -210 | ||
Cash paid for acquisitions, net of cash assumed | -77,984 | -2,000 | ||
Other investing activities | -600 | -100 | ||
Net cash used in investing activities | -82,480 | -5,861 | ||
Cash flows from financing activities: | ||||
Tax benefits from share-based payment arrangements | 447 | 5,448 | ||
Proceeds from exercise of stock options and restricted stock, net | 360 | 484 | ||
Repayment of capital lease obligations | -176 | -44 | ||
Net cash provided by financing activities | 631 | 5,888 | ||
Effect of exchange rate changes on cash | -2,180 | 53 | ||
Net increase (decrease) in cash and cash equivalents | -84,966 | 388 | ||
Cash and cash equivalents at the beginning of the period | 284,862 | 306,316 | ||
Cash and cash equivalents at the end of the period | 199,896 | 306,704 | ||
Supplemental Cash Flow Information: | ||||
Cash interest payments | 143 | 132 | ||
Cash income tax payments | 1,707 | 2,407 | ||
Transfer of equipment from inventory to property and equipment, net | 2,539 | [1] | 2,300 | [1] |
Transfer of equipment to inventory from property and equipment, net | 1,822 | [2] | 16 | [2] |
Stock issued for acquisitions of businesses | $2,000 | |||
[1] | Inventory is transferred from inventory to property and equipment at cost when the Company requires additional machines for training or demonstration or for placement into Quickparts’ locations. | |||
[2] | In general, an asset is transferred from property and equipment, net into inventory at its net book value when the Company has identified a potential sale for a used machine. |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Stockholders’ Equity (USD $) | Common Stock [Member] | Additional Paid In Capital [Member] | Treasury Stock [Member] | Accumulated Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total 3D Ssytems Corporation Stockholders' Equity [Member] | Equity Attributable To Noncontrolling Interest Member] | Total | |
In Thousands | |||||||||
Balance, Value at Dec. 31, 2014 | $112 | $1,245,462 | ($374) | $72,124 | ($24,406) | $1,292,918 | $1,207 | $1,294,125 | |
Balance, Shares at Dec. 31, 2014 | 112,233 | 709 | 112,233 | ||||||
Tax benefits from share-based payment arrangements, Value | 447 | 447 | 447 | ||||||
Tax benefits from share-based payment arrangements, Shares | |||||||||
Issuance (repurchase) of restricted stock, net, Value | 286 | -22 | 264 | 264 | |||||
Issuance (repurchase) of restricted stock, net, Shares | 286 | 24 | |||||||
Issuance of restricted stock from treasury shares, Value | -72 | 168 | 96 | 96 | |||||
Issuance of restricted stock from treasury shares, Shares | -218 | -312 | |||||||
Stock-based compensation expense, Value | 10,329 | 10,329 | 10,329 | ||||||
Net income (loss) | -13,181 | -13,181 | 33 | -13,148 | |||||
Noncontrolling interests for business combinations | 36 | 36 | |||||||
Pension adjustment | 265 | 265 | 265 | ||||||
Foreign currency translation adjustment | -20,832 | -20,832 | -125 | -20,957 | |||||
Balance, Value at Mar. 31, 2015 | $112 | $1,256,452 | ($228) | $58,943 | ($44,973) | [1] | $1,270,306 | $1,151 | $1,271,457 |
Balance, Shares at Mar. 31, 2015 | 112,301 | 421 | 112,301 | ||||||
[1] | Accumulated other comprehensive loss of $44,973 consists of foreign currency translation loss of $43,027 and a cumulative unrealized pension loss of $1,946. |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Stockholders’ Equity (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accumulated other comprehensive income (loss) | ($44,973) | ($24,406) |
Foreign Currency Translation Adjustments [Member] | ||
Accumulated other comprehensive income (loss) | -43,027 | -22,195 |
Defined Benefit Pension Plan [Member] | ||
Accumulated other comprehensive income (loss) | ($1,946) | ($2,211) |
Basis_Of_Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | (1) Basis of Presentation |
The accompanying unaudited condensed consolidated financial statements include the accounts of 3D Systems Corporation and its subsidiaries (collectively, the “Company”). All significant intercompany transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim reports. Accordingly, they do not include all the information and notes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K (“Form 10-K”) for the year ended December 31, 2014. | |
In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments, consisting of adjustments of a normal recurring nature, necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The results of operations for the quarter ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year. | |
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results may differ from those estimates and assumptions. | |
Certain prior period amounts presented in the condensed consolidated financial statements and accompanying footnotes have been reclassified to conform to current year presentation. | |
All amounts presented in the accompanying footnotes are presented in thousands, except for per share information. | |
Recent Accounting Pronouncements | |
In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”), which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. It is effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The new guidance will be applied retrospectively to each prior period presented. The Company is currently in the process of evaluating the impact of adoption of ASU 2015-03 on its consolidated balance sheets. | |
No other new accounting pronouncements, issued or effective during the first quarter of 2015, have had or are expected to have a significant impact on the Company’s consolidated financial statements. | |
Acquisitions
Acquisitions | 3 Months Ended | ||
Mar. 31, 2015 | |||
Acquisitions [Abstract] | |||
Acquisitions | (2) Acquisitions | ||
The Company completed one acquisition in the first quarter of 2015, which is discussed below. | |||
On February 9, 2015, the Company acquired 100% of the outstanding shares and voting rights of Cimatron Ltd. (“Cimatron”), a provider of integrated 3D CAD/CAM software and solutions for manufacturing. The fair value of the consideration paid for this acquisition, net of cash acquired, was $77,984, all of which was paid in cash. The operations of Cimatron have been integrated into the Company’s products and service revenues. The fair value of the consideration paid for this acquisition was allocated to the assets purchased and liabilities assumed, based on their estimated fair values as of the acquisition date, with any excess recorded as goodwill, and is included in the table below, which summarizes the first quarter 2015 acquisition. Factors considered in determination of goodwill include synergies, vertical integration and strategic fit for the Company. | |||
The acquisition completed in the first quarter is not material relative to the Company’s assets or operating results; therefore, no proforma financial information is provided. | |||
The Company’s purchase price allocation for the acquired company is preliminary and subject to revision as more detailed analyses are completed and additional information about the fair value of assets and liabilities becomes available. The amounts related to the acquisition are allocated to the assets acquired and the liabilities assumed and are included in the Company’s unaudited condensed consolidated balance sheet at March 31, 2015 as follows: | |||
(in thousands) | 2015 | ||
Fixed assets | $ | 287 | |
Other intangible assets, net | 50,700 | ||
Goodwill | 37,580 | ||
Other assets, net of cash acquired | 17,040 | ||
Liabilities | -27,623 | ||
Net assets acquired | $ | 77,984 | |
Subsequent Acquisition | |||
On April 2, 2015, the Company acquired 65% of the equity interests in Wuxi Easyway Model Design and Manufacture Co. Ltd., a manufacturing service bureau and distributor of 3D printing and scanning products in China. Under the terms of the agreement, the Company has an option to acquire the remainder of the equity interests between the third and fifth anniversary of the closing. | |||
Inventories
Inventories | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Inventories [Abstract] | ||||||
Inventories | (3) Inventories | |||||
Components of inventories, net at March 31, 2015 and December 31, 2014 were as follows: | ||||||
(in thousands) | 2015 | 2014 | ||||
Raw materials | $ | 54,489 | $ | 46,850 | ||
Work in process | 2,338 | 2,304 | ||||
Finished goods and parts | 57,775 | 47,491 | ||||
Inventories, net | $ | 114,602 | $ | 96,645 | ||
Property_And_Equipment
Property And Equipment | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Property And Equipment [Abstract] | ||||||||
Property And Equipment | (4) Property and Equipment | |||||||
Property and equipment at March 31, 2015 and December 31, 2014 were as follows: | ||||||||
(in thousands) | 2015 | 2014 | Useful Life (in years) | |||||
Land | $ | 541 | $ | 541 | N/A | |||
Building | 9,373 | 9,370 | 25 | |||||
Machinery and equipment | 93,467 | 84,443 | 7-Mar | |||||
Capitalized software | 3,853 | 3,693 | 5-Mar | |||||
Office furniture and equipment | 4,566 | 3,478 | 5-Mar | |||||
Leasehold improvements | 14,561 | 12,447 | Life of lease (a) | |||||
Rental equipment | 498 | 557 | 5 | |||||
Construction in progress | 11,866 | 20,082 | N/A | |||||
Total property and equipment | 138,725 | 134,611 | ||||||
Less: Accumulated depreciation and amortization | -55,988 | -52,730 | ||||||
Total property and equipment, net | $ | 82,737 | $ | 81,881 | ||||
(a) | Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful lives and (ii) the estimated or contractual life of the related lease. | |||||||
Depreciation and amortization expense on property and equipment for the quarters ended March 31, 2015 and 2014 was $4,709 and $3,036 respectively. | ||||||||
Intangible_Assets
Intangible Assets | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Intangible Assets [Abstract] | ||||||||||||||||||||||
Intangible Assets | (5) Intangible Assets | |||||||||||||||||||||
Intangible assets other than goodwill at March 31, 2015 and December 31, 2014 were as follows: | ||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | Useful Life (in years) | Weighted Average Useful Life Remaining (in years) | ||||||||||||||
Intangible assets with finite lives: | ||||||||||||||||||||||
Licenses | $ | 5,875 | $ | -5,875 | $ | — | $ | 5,875 | $ | -5,875 | $ | — | N/A | N/A | ||||||||
Patent costs | 20,949 | -7,613 | 13,336 | 20,733 | -7,369 | 13,364 | 20-May | 3 | ||||||||||||||
Acquired technology | 71,498 | -20,687 | 50,811 | 57,383 | -18,241 | 39,142 | 10-Mar | 4 | ||||||||||||||
Internally developed software | 9,072 | -5,878 | 3,194 | 9,073 | -5,517 | 3,556 | 8-Jan | <1 | ||||||||||||||
Customer relationships | 185,497 | -39,163 | 146,334 | 157,139 | -36,975 | 120,164 | 11-Mar | 2 | ||||||||||||||
Non-compete agreements | 35,114 | -12,637 | 22,477 | 35,469 | -11,784 | 23,685 | 11-Mar | 3 | ||||||||||||||
Trade names | 26,774 | -4,684 | 22,090 | 21,800 | -4,455 | 17,345 | 10-Feb | 5 | ||||||||||||||
Other | 41,983 | -8,854 | 33,129 | 39,100 | -6,905 | 32,195 | 10-Apr | 1 | ||||||||||||||
Intangible assets with indefinite lives: | ||||||||||||||||||||||
Trademarks | 2,110 | — | 2,110 | 2,110 | — | 2,110 | N/A | N/A | ||||||||||||||
Total intangible assets | $ | 398,872 | $ | -105,391 | $ | 293,481 | $ | 348,682 | $ | -97,121 | $ | 251,561 | 20-Jan | 4 | ||||||||
For the quarter ended March 31, 2015 and 2014, the Company capitalized $203 and $210, respectively, of costs incurred to internally develop and extend patents in the United States and various other countries. | ||||||||||||||||||||||
Amortization expense of intangible assets for the quarter ended March 31, 2015 and 2014 was $14,517 and $9,204 respectively. | ||||||||||||||||||||||
Annual amortization expense for intangible assets is expected to be $54,467, $48,813, $43,796, $35,663 and $25,876 for the years ended 2015, 2016, 2017, 2018 and 2019, respectively. | ||||||||||||||||||||||
Accrued_And_Other_Liabilities
Accrued And Other Liabilities | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Accrued And Other Liabilities [Abstract] | ||||||
Accrued And Other Liabilities | (6) Accrued and Other Liabilities | |||||
Accrued liabilities at March 31, 2015 and December 31, 2014 were as follows: | ||||||
(in thousands) | 2015 | 2014 | ||||
Compensation and benefits | $ | 25,507 | $ | 20,726 | ||
Vendor accruals | 14,858 | 10,451 | ||||
Accrued professional fees | 1,344 | 532 | ||||
Accrued taxes | 8,403 | 8,577 | ||||
Royalties payable | 1,427 | 1,796 | ||||
Accrued interest | 42 | 43 | ||||
Accrued earnouts related to acquisitions | 271 | 185 | ||||
Accrued other | 2,574 | 1,909 | ||||
Total | $ | 54,426 | $ | 44,219 | ||
Other liabilities at March 31, 2015 and December 31, 2014 were as follows: | ||||||
(in thousands) | 2015 | 2014 | ||||
Defined benefit pension obligation | $ | 6,307 | $ | 7,062 | ||
Long term tax liability | 3,083 | 2,029 | ||||
Long term earnouts related to acquisitions | 8,972 | 8,970 | ||||
Long term deferred revenue | 7,911 | 7,627 | ||||
Other long term liabilities | 7,483 | 9,210 | ||||
Total | $ | 33,756 | $ | 34,898 | ||
Hedging_Activities_And_Financi
Hedging Activities And Financial Instruments | 3 Months Ended |
Mar. 31, 2015 | |
Hedging Activities And Financial Instruments [Abstract] | |
Hedging Activities And Financial Instruments | (7) Hedging Activities and Financial Instruments |
The Company conducts business in various countries using both the functional currencies of those countries and other currencies to effect cross border transactions. As a result, the Company is subject to the risk that fluctuations in foreign exchange rates between the dates that those transactions are entered into and their respective settlement dates will result in a foreign exchange gain or loss. When practicable, the Company endeavors to match assets and liabilities in the same currency on its balance sheet and those of its subsidiaries in order to reduce these risks. When appropriate, the Company enters into foreign currency contracts to hedge exposures arising from those transactions. The Company has elected not to prepare and maintain the documentation to qualify for hedge accounting treatment under Accounting Standards Codification (“ASC”) 815, “Derivatives and Hedging,” and therefore, all gains and losses (realized or unrealized) are recognized in "Interest and other expense, net” in the condensed consolidated statements of operations and comprehensive income (loss). Depending on their fair value at the end of the reporting period, derivatives are recorded either in prepaid expenses and other current assets or in accrued liabilities on the condensed consolidated balance sheet. | |
There were no foreign currency contracts outstanding at March 31, 2015 or at December 31, 2014. | |
The condensed consolidated statements of operations for the quarters ended March 31, 2015 and 2014 include a foreign currency transaction loss of $2,194 and $205, respectively, which is included in interest and other expense, net. | |
The total impact of foreign currency translation on accumulated other comprehensive income (loss) for the quarters ended March 31, 2015 and 2014, reflects a loss of $20,832 and $13, respectively. | |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2015 | |
Borrowings [Abstract] | |
Borrowings | (8) Borrowings |
Credit Facility | |
On October 10, 2014, the Company and certain of its subsidiaries entered into a $150,000 five-year revolving, unsecured credit facility (the “Credit Agreement”) with PNC Bank, National Association, as Administrative Agent, PNC Capital Markets LLC, as Sole Lead Arranger and Sole Bookrunner, HSBC Bank USA, N.A., as Syndication Agent, and the other lenders party thereto (collectively, the “Lenders”). The Credit Agreement comprises a revolving loan facility that provides for advances in the initial aggregate principal amount of up to $150,000 (the “Credit Facility”). Subject to certain terms and conditions contained in the Credit Agreement, the Company may, at its option and subject to customary conditions, request an increase in the aggregate principal amount available under the Credit Facility by an additional $75,000. The Credit Agreement includes provisions for the issuance of letters of credit and swingline loans. | |
The Credit Agreement is guaranteed by certain of the Company’s material domestic subsidiaries (the “Guarantors”). Pursuant to the Credit Agreement, the Guarantors guarantee to the Lenders, among other things, all of the obligations of the Company and each other Guarantor under the Credit Agreement. From time to time, the Company may be required to cause additional material domestic subsidiaries to become Guarantors under the Credit Agreement. | |
Generally, amounts outstanding under the Credit Facility bear interest, at the Company’s option, at either the Base Rate or the LIBOR Rate, in each case, plus an applicable margin. Base Rate advances bear interest at a rate per annum equal to the sum of (i) the highest of (A) the Administrative Agent’s prime rate, (B) the Federal Funds Open Rate plus 0.5% or (C) the Daily LIBOR Rate for a one month interest period plus 1%, and (ii) an applicable margin that ranges from 0.25% to 0.50% based upon the Company’s consolidated total leverage ratio. LIBOR Rate advances bear interest at a rate based upon the London interbank offered rate for the applicable interest period, plus an applicable margin that ranges from 1.25% to 1.50% based upon the Company’s consolidated total leverage ratio. Under the terms of the Credit Agreement, (i) accrued interest on each loan bearing interest at the Base Rate is payable quarterly in arrears and (ii) accrued interest on each loan bearing interest at the LIBOR Rate is payable in arrears on the earlier of (A) quarterly and (B) the last day of each applicable interest payment date for each loan. The Credit Facility is scheduled to mature on October 10, 2019, at which time all amounts outstanding thereunder will be due and payable. | |
The Company is required to pay certain fees in connection with the Credit Facility, including a quarterly commitment fee equal to the product of the amount of the average daily available revolving commitments under the Credit Agreement multiplied by a percentage that ranges from 0.20% to 0.25% depending upon the Company’s leverage ratio, as well as customary administrative fees. | |
The Credit Agreement contains customary representations, warranties, covenants and default provisions for a Credit Facility of this type, including, but not limited to, financial covenants, limitations on liens and the incurrence of debt, covenants to preserve corporate existence and comply with laws and covenants regarding the use of proceeds of the Credit Facility. The financial covenants include a maximum consolidated total leverage ratio, which is the ratio of consolidated total funded indebtedness to consolidated EBITDA (earnings before interest, taxes, depreciation and amortization expense), as defined in the Credit Agreement, of 3.00 to 1.00, and a minimum interest coverage ratio, which is the ratio of Consolidated EBITDA to cash interest expense, of 3.50 to 1.00. The Company is only required to be in compliance with the financial covenants as of the end of any fiscal quarter in which there are any loans outstanding at any time during such fiscal quarter. | |
The payment of dividends on the Company’s common stock is restricted under provisions of the Credit Facility, which limits the amount of cash dividends that the Company may pay in any one fiscal year to $30,000. The Company currently does not pay, and has not paid, any dividends on their common stock, and currently intends to retain any future earnings for use in their business. | |
There was no outstanding balance on the Credit Facility as of March 31, 2015 and December 31, 2014. | |
Capitalized Lease Obligations | |
The Company’s capitalized lease obligations include lease agreements that were entered into during 2006 with respect to the Company’s corporate headquarters located in Rock Hill, SC, and lease agreements assumed in the LayerWise acquisition. Total capitalized lease obligations decreased to $9,078 at March 31, 2015 from $9,434 at December 31, 2014, primarily due to the normal scheduled timing of payments. | |
Other debt | |
In connection with its acquisition of LayerWise, the Company assumed a portion of LayerWise’s outstanding bank debt, consisting of revolving credit facilities and term loans. The term loans bear interest at rates ranging from 1.34% to 5.40% as of March 31, 2015. The outstanding balance on the term loans was $66 and $127 as of March 31, 2015 and December 31, 2014, respectively. There were no borrowings outstanding under the revolving credit facilities as of March 31, 2015 or December 31, 2014. There is a 0.125% commitment fee on the unused portion of the facilities. | |
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Stock-Based Compensation Plans [Abstract] | ||||||||||||
Stock-Based Compensation Plans | (9) Stock-based Compensation Plans | |||||||||||
The Company records stock-based compensation expense in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss). Stock-based compensation expense for the quarter ended March 31, 2015 and 2014 was as follows: | ||||||||||||
Quarter Ended March 31, | ||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||
Restricted stock awards | $ | 10,329 | $ | 7,276 | ||||||||
The number of shares and units of restricted common stock awarded and the weighted average fair value per share and unit during the quarter ended March 31, 2015 and 2014 were as follows: | ||||||||||||
Quarter Ended March 31, | ||||||||||||
2015 | 2014 | |||||||||||
(in thousands, except per share amounts) | Number of Shares/Units | Weighted Average Fair Value | Number of Shares/Units | Weighted Average Fair Value | ||||||||
Restricted stock awards: | ||||||||||||
Granted under the 2004 Incentive Stock Plan | 273 | $ | 28.62 | 233 | $ | 80.82 | ||||||
During the quarter ended March 31, 2015, the Company granted restricted stock awards covering 273 shares and units of common stock pursuant to the Company’s 2004 Incentive Stock Plan. As of March 31, 2015, 148 shares or units under awards remained subject to acceptance and 60 shares under awards were granted to executive officers of the Company during the quarter. During the quarter ended March 31, 2014, the Company granted restricted stock awards covering 233 shares of common stock pursuant to the Company’s 2004 Incentive Stock Plan, of which 30 shares were awarded to executive officers of the Company. | ||||||||||||
No shares or units of common stock pursuant to the Company’s 2004 Restricted Stock Plan were granted to Non-Employee Directors during the first quarter of 2015 or 2014. | ||||||||||||
International_Retirement_Plan
International Retirement Plan | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
International Retirement Plan [Abstract] | ||||||
International Retirement Plan | (10) International Retirement Plan | |||||
The following table shows the components of net periodic benefit costs and other amounts recognized in the condensed consolidated statements of operations and comprehensive income (loss) for the quarter ended March 31, 2015 and 2014: | ||||||
Quarter Ended March 31, | ||||||
(in thousands) | 2015 | 2014 | ||||
Service cost | $ | 47 | $ | 45 | ||
Interest cost | 62 | 62 | ||||
Total | $ | 109 | $ | 107 | ||
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Earnings Per Share [Abstract] | ||||||
Earnings Per Share | (11) Earnings (Loss) Per Share | |||||
The Company presents basic and diluted earnings per share (“EPS”) amounts. Basic EPS is calculated by dividing net income (loss) attributable to 3D Systems Corporation available to common stockholders by the weighted average number of common shares outstanding during the applicable period. Diluted EPS is calculated by dividing net income (loss) by the weighted average number of common and common equivalent shares outstanding during the applicable period. For the quarter ended March 31, 2015, restricted stock units were antidilutive because of the net loss, and, as such, their effect has not been included in the calculation of diluted earnings (loss) per share. | ||||||
The following table reconciles basic weighted average outstanding shares to diluted weighted average outstanding shares at March 31, 2015 and 2014: | ||||||
Quarter Ended March 31, | ||||||
(in thousands, except per share amounts) | 2015 | 2014 | ||||
Numerator for basic and diluted net earnings per share: | ||||||
Net income (loss) attributable to 3D Systems Corporation | $ | -13,181 | $ | 4,877 | ||
Denominator for basic and diluted net earnings per share: | ||||||
Weighted average shares | 111,731 | 103,546 | ||||
Earnings (loss) per share, basic and diluted | $ | -0.12 | $ | 0.05 | ||
Interest expense excluded from diluted earnings per share calculation (a) | $ | — | $ | 156 | ||
5.50% Convertible notes shares excluded from diluted earnings per share calculation (a) | — | 876 | ||||
(a) | Average outstanding diluted earnings per share calculation excludes shares that may be issued upon conversion of the outstanding senior convertible notes since the effect of their inclusion would have been anti-dilutive. | |||||
For the quarter ended March 31, 2015, average common shares for basic and diluted loss per share was 111,731 and basic and diluted loss per share was $0.12. For the quarter ended March 31, 2014, average common shares for basic and diluted earnings per share was 103,546 and basic and diluted earnings per share was $0.05. | ||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Fair Value Measurements [Abstract] | ||||||||||||
Fair Value Measurements | (12) Fair Value Measurements | |||||||||||
ASC 820, “Fair Value Measurements and Disclosures,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs that may be used to measure fair value: | ||||||||||||
· | Level 1 - Quoted prices in active markets for identical assets or liabilities; | |||||||||||
· | Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or | |||||||||||
· | Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||
For the Company, the above standard applies to cash equivalents. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. | ||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below: | ||||||||||||
Fair Value Measurements as of March 31, 2015 | ||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||
Description | ||||||||||||
Cash equivalents (a) | $ | 87,920 | $ | — | $ | — | $ | 87,920 | ||||
Redeemable noncontrolling interests (b) | $ | — | $ | — | $ | 8,872 | $ | 8,872 | ||||
(a) | Cash equivalents include funds held in money market instruments and are reported at their current carrying value, which approximates fair value due to the short-term nature of these instruments and are included in cash and cash equivalents in the consolidated balance sheet. | |||||||||||
(b) | Redeemable noncontrolling interests represents a put option that owners of interests in a certain subsidiary have the right, in certain circumstances, to require the Company to acquire either a portion of, or all of, the remaining ownership interests held by them. The Company determines the fair value of the redeemable noncontrolling interests based on unobservable inputs considering the assumptions that market participants would make in pricing the obligation. Given the significance of the unobservable inputs, the valuations are classified in level 3 of the fair value hierarchy. See Note 15. | |||||||||||
The Company did not have any transfers of assets and liabilities between Level 1, Level 2 and Level 3, of the fair value measurement hierarchy during the quarter ended March 31, 2015. | ||||||||||||
In addition to the financial assets included in the above table, certain of our non-financial assets and liabilities are to be initially measured at fair value on a non-recurring basis. This includes items such as non-financial assets and liabilities initially measured at fair value in a business combination (but not measured at fair value in subsequent periods) and non-financial, long-lived assets measured at fair value for an impairment assessment. In general, non-financial assets and liabilities including goodwill, other intangible assets and property and equipment are measured at fair value when there is an indication of impairment and are recorded at fair value only when impairment is recognized. The Company has not recorded any impairments related to such assets and has had no other significant non-financial assets or non-financial liabilities requiring adjustments or write-downs to fair value as of March 31, 2015 or December 31, 2014. | ||||||||||||
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Taxes [Abstract] | |
Income Taxes | (13) Income Taxes |
The Company’s effective tax rates were 34.6% and 42.0% for the quarters ended March 31, 2015 and 2014, respectively. | |
The Company has not provided for any taxes on the unremitted earnings of its foreign subsidiaries, as the Company intends to permanently reinvest all such earnings outside of the U.S. We believe a calculation of the deferred tax liability associated with these undistributed earnings is impracticable. | |
Tax years 2011 through 2014 remain subject to examination by the U.S. Internal Revenue Service. The Company has utilized U.S. loss carryforwards causing the years 1997 to 2007 to be subject to examination. The Company files income tax returns (which are open to examination beginning in the year shown in parentheses) in Australia (2009), Belgium (2010), Brazil (2014), China (2010), France (2011), Germany (2011), India (2012), Israel (2010), Italy (2009), Japan (2008), Korea (2009), Mexico (2014), Netherlands (2007), Switzerland (2008), the United Kingdom (2009) and Uruguay (2014). | |
Segment_Information
Segment Information | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Segment Information [Abstract] | ||||||||||||||||
Segment Information | (14) Segment Information | |||||||||||||||
The Company operates in one reportable business segment. The Company conducts its business through subsidiaries in the United States, a subsidiary in Israel that operates a research and production facility and sales and service offices, a subsidiary in Switzerland that operates a research and production facility, subsidiaries in France and Brazil that operate production facilities and sales and service offices, and other sales and service offices in Europe (Belgium, Germany, the United Kingdom, Italy and the Netherlands), Israel and in Asia Pacific (Australia, China, India, Japan and Korea). The Company has historically disclosed summarized financial information for the geographic areas of operations as if they were segments in accordance with ASC 280, “Segment Reporting.” Financial information concerning the Company’s geographical locations is based on the location of the selling entity. Such summarized financial information concerning the Company’s geographical operations is shown in the following tables: | ||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Revenue from unaffiliated customers: | ||||||||||||||||
Americas | $ | 86,262 | $ | 68,032 | ||||||||||||
Germany | 21,250 | 23,825 | ||||||||||||||
Other EMEA | 27,454 | 23,739 | ||||||||||||||
Asia Pacific | 25,756 | 32,162 | ||||||||||||||
Total | $ | 160,722 | $ | 147,758 | ||||||||||||
Quarter Ended March 31, | ||||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Products | $ | 62,715 | $ | 60,753 | ||||||||||||
Materials | 37,107 | 40,441 | ||||||||||||||
Services | 60,900 | 46,564 | ||||||||||||||
Total revenue | $ | 160,722 | $ | 147,758 | ||||||||||||
Quarter Ended March 31, 2015 | ||||||||||||||||
Intercompany Sales to | ||||||||||||||||
(in thousands) | Americas | Germany | Other EMEA | Asia Pacific | Total | |||||||||||
Americas | $ | 480 | $ | 10,134 | $ | 5,837 | $ | 4,973 | $ | 21,424 | ||||||
Germany | — | — | 804 | — | 804 | |||||||||||
Other EMEA | 14,915 | 654 | 864 | 646 | 17,079 | |||||||||||
Asia Pacific | 626 | — | 13 | 758 | 1,397 | |||||||||||
Total | $ | 16,021 | $ | 10,788 | $ | 7,518 | $ | 6,377 | $ | 40,704 | ||||||
Quarter Ended March 31, 2014 | ||||||||||||||||
Intercompany Sales to | ||||||||||||||||
(in thousands) | Americas | Germany | Other EMEA | Asia Pacific | Total | |||||||||||
Americas | $ | — | $ | 10,937 | $ | 4,947 | $ | 2,346 | $ | 18,230 | ||||||
Germany | 409 | — | 1,478 | — | 1,887 | |||||||||||
Other EMEA | 10,043 | 1,330 | 332 | 555 | 12,260 | |||||||||||
Asia Pacific | 482 | — | — | 682 | 1,164 | |||||||||||
Total | $ | 10,934 | $ | 12,267 | $ | 6,757 | $ | 3,583 | $ | 33,541 | ||||||
Quarter Ended March 31, | ||||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Income (loss) from operations: | ||||||||||||||||
Americas | $ | -23,106 | $ | -2,030 | ||||||||||||
Germany | 1,840 | 197 | ||||||||||||||
Other EMEA | -1,335 | 2,401 | ||||||||||||||
Asia Pacific | 5,584 | 9,067 | ||||||||||||||
Subtotal | -17,017 | 9,635 | ||||||||||||||
Inter-segment elimination | -507 | -118 | ||||||||||||||
Total | $ | -17,524 | $ | 9,517 | ||||||||||||
March 31, | December 31, | |||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Assets: | ||||||||||||||||
Americas | $ | 920,092 | $ | 1,018,113 | ||||||||||||
Germany | 53,448 | 47,524 | ||||||||||||||
Other EMEA | 467,263 | 382,259 | ||||||||||||||
Asia Pacific | 72,624 | 78,074 | ||||||||||||||
Total | $ | 1,513,427 | $ | 1,525,970 | ||||||||||||
March 31, | December 31, | |||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Americas | $ | 149,629 | $ | 245,219 | ||||||||||||
Germany | 13,419 | 6,640 | ||||||||||||||
Other EMEA | 22,231 | 15,556 | ||||||||||||||
Asia Pacific | 14,617 | 17,447 | ||||||||||||||
Total | $ | 199,896 | $ | 284,862 | ||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Commitments And Contingencies [Abstract] | ||||||
Commitments And Contingencies | (15) Commitments and Contingencies | |||||
The Company leases office space and certain furniture and fixtures under various non-cancelable operating leases. Rent expense under operating leases was $3,204 and $2,311 for the quarters ended March 31, 2015 and 2014, respectively. | ||||||
As of March 31, 2015, the Company has supply commitments on printer assemblies for the second quarter of 2015 that total $77,623, compared to $56,620 at December 31, 2014. | ||||||
Certain of the Company’s acquisitions contain earnout provisions under which the sellers of the acquired businesses can earn additional amounts. The total liabilities recorded for these earnouts as of March 31, 2015 and December 31, 2014 was $9,243 and $9,155, respectively. | ||||||
Put Options | ||||||
Owners of interests in a certain subsidiary have the right in certain circumstances to require the Company to acquire either a portion of or all of the remaining ownership interests held by them. The owners’ ability to exercise any such “put option” right is subject to the satisfaction of certain conditions, including conditions requiring notice in advance of exercise. In addition, these rights cannot be exercised prior to a specified exercise date. The exercise of these rights at their earliest contractual date would result in obligations of the Company to fund the related amounts in 2019. | ||||||
Management estimates, assuming that the subsidiary owned by the Company at March 31, 2015, performs over the relevant future periods at their forecasted earnings levels, that these rights, if exercised, could require the Company, in future periods, to pay approximately $8,872 to the owners of such rights to acquire such ownership interests in the relevant subsidiary. This amount has been recorded as redeemable noncontrolling interests on the balance sheet at March 31, 2015 and December 31, 2014. The ultimate amount payable relating to this transaction will vary because it is dependent on the future results of operations of the subject business. | ||||||
The following table presents changes in redeemable noncontrolling interests: | ||||||
(in thousands) | March 31, | December 31, | ||||
2015 | 2014 | |||||
Beginning balance | $ | 8,872 | $ | — | ||
Changes in redemption value | — | 8,550 | ||||
Currency translation adjustments | — | 322 | ||||
Ending balance | $ | 8,872 | $ | 8,872 | ||
Litigation | ||||||
The Company is involved in various legal matters incidental to its business. The Company believes, after consulting with counsel, that the disposition of these legal matters will not have a material effect on our consolidated results of operations or consolidated financial position. | ||||||
Indemnification | ||||||
In the normal course of business the Company periodically enters into agreements to indemnify customers or suppliers against claims of intellectual property infringement made by first parties arising from the use of the Company’s products. Historically, costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations. | ||||||
To the extent permitted under Delaware law, the Company indemnifies directors and officers for certain events or occurrences while the director or officer is, or was, serving at the Company’s request in such capacity, subject to limited exceptions. The maximum potential amount of future payments the Company could be required to make under these indemnification obligations is unlimited; however, the Company has directors and officers insurance coverage that may enable the Company to recover future amounts paid, subject to a deductible and the policy limits. There is no assurance that the policy limits will be sufficient to cover all damages, if any. | ||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||||||
Accumulated Other Comprehensive Income (Loss) | (16) Accumulated Other Comprehensive Income (Loss) | ||||||||
The changes in the balances of accumulated other comprehensive income (loss) by component are as follows: | |||||||||
(in thousands) | Foreign currency translation adjustment | Defined benefit pension plan | Total | ||||||
Balance at December 31, 2014 | $ | -22,195 | $ | -2,211 | $ | -24,406 | |||
Other comprehensive income (loss) | -20,832 | 265 | -20,567 | ||||||
Balance at March 31, 2015 | $ | -43,027 | $ | -1,946 | $ | -44,973 | |||
The amounts presented above are included in other comprehensive income (loss) and are net of taxes. For additional information about foreign currency translation, see Note 7. For additional information about the pension plan, see Note 10. | |||||||||
Noncontrolling_Interest
Noncontrolling Interest | 3 Months Ended |
Mar. 31, 2015 | |
Noncontrolling Interests [Abstract] | |
Noncontrolling Interest | (17) Noncontrolling Interests |
As of March 31, 2015, the Company owned approximately 95% of the capital and voting rights of Phenix Systems, a global provider of direct metal selective laser sintering 3D printers. Phenix Systems was acquired on July 15, 2013. | |
As of March 31, 2015, the Company owned approximately 70% of the capital and voting rights of Robtec, an additive manufacturing service bureau and distributor of 3D printing and scanning products. Robtec was acquired on November 25, 2014. | |
Subsequent_Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Event [Abstract] | |
Subsequent Event | (18) Subsequent Event |
On April 2, 2015, the Company acquired 65% of the equity interests in Wuxi Easyway Model Design and Manufacture Co. Ltd, a manufacturing service bureau and distributor of 3D printing and scanning products in China. Under the terms of the agreement, the Company has an option to acquire the remainder of the equity interests between the third and fifth anniversary of the closing. | |
Basis_Of_Presentation_Policy
Basis Of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2015 | |
Basis Of Presentation [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”), which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. It is effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The new guidance will be applied retrospectively to each prior period presented. The Company is currently in the process of evaluating the impact of adoption of ASU 2015-03 on its consolidated balance sheets. | |
No other new accounting pronouncements, issued or effective during the first quarter of 2015, have had or are expected to have a significant impact on the Company’s consolidated financial statements. | |
Acquisitions_Tables
Acquisitions (Tables) | 3 Months Ended | ||
Mar. 31, 2015 | |||
Acquisitions [Abstract] | |||
Purchase Price Allocation To Assets Acquired And Liabilities Assumed | |||
(in thousands) | 2015 | ||
Fixed assets | $ | 287 | |
Other intangible assets, net | 50,700 | ||
Goodwill | 37,580 | ||
Other assets, net of cash acquired | 17,040 | ||
Liabilities | -27,623 | ||
Net assets acquired | $ | 77,984 | |
Inventories_Tables
Inventories (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Inventories [Abstract] | ||||||
Components Of Inventories | ||||||
(in thousands) | 2015 | 2014 | ||||
Raw materials | $ | 54,489 | $ | 46,850 | ||
Work in process | 2,338 | 2,304 | ||||
Finished goods and parts | 57,775 | 47,491 | ||||
Inventories, net | $ | 114,602 | $ | 96,645 | ||
Property_And_Equipment_Tables
Property And Equipment (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Property And Equipment [Abstract] | ||||||||
Schedule Of Property And Equipment | ||||||||
(in thousands) | 2015 | 2014 | Useful Life (in years) | |||||
Land | $ | 541 | $ | 541 | N/A | |||
Building | 9,373 | 9,370 | 25 | |||||
Machinery and equipment | 93,467 | 84,443 | 7-Mar | |||||
Capitalized software | 3,853 | 3,693 | 5-Mar | |||||
Office furniture and equipment | 4,566 | 3,478 | 5-Mar | |||||
Leasehold improvements | 14,561 | 12,447 | Life of lease (a) | |||||
Rental equipment | 498 | 557 | 5 | |||||
Construction in progress | 11,866 | 20,082 | N/A | |||||
Total property and equipment | 138,725 | 134,611 | ||||||
Less: Accumulated depreciation and amortization | -55,988 | -52,730 | ||||||
Total property and equipment, net | $ | 82,737 | $ | 81,881 | ||||
(a) | Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful lives and (ii) the estimated or contractual life of the related lease. | |||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Intangible Assets [Abstract] | ||||||||||||||||||||||
Intangible Assets Other Than Goodwill | ||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | Useful Life (in years) | Weighted Average Useful Life Remaining (in years) | ||||||||||||||
Intangible assets with finite lives: | ||||||||||||||||||||||
Licenses | $ | 5,875 | $ | -5,875 | $ | — | $ | 5,875 | $ | -5,875 | $ | — | N/A | N/A | ||||||||
Patent costs | 20,949 | -7,613 | 13,336 | 20,733 | -7,369 | 13,364 | 20-May | 3 | ||||||||||||||
Acquired technology | 71,498 | -20,687 | 50,811 | 57,383 | -18,241 | 39,142 | 10-Mar | 4 | ||||||||||||||
Internally developed software | 9,072 | -5,878 | 3,194 | 9,073 | -5,517 | 3,556 | 8-Jan | <1 | ||||||||||||||
Customer relationships | 185,497 | -39,163 | 146,334 | 157,139 | -36,975 | 120,164 | 11-Mar | 2 | ||||||||||||||
Non-compete agreements | 35,114 | -12,637 | 22,477 | 35,469 | -11,784 | 23,685 | 11-Mar | 3 | ||||||||||||||
Trade names | 26,774 | -4,684 | 22,090 | 21,800 | -4,455 | 17,345 | 10-Feb | 5 | ||||||||||||||
Other | 41,983 | -8,854 | 33,129 | 39,100 | -6,905 | 32,195 | 10-Apr | 1 | ||||||||||||||
Intangible assets with indefinite lives: | ||||||||||||||||||||||
Trademarks | 2,110 | — | 2,110 | 2,110 | — | 2,110 | N/A | N/A | ||||||||||||||
Total intangible assets | $ | 398,872 | $ | -105,391 | $ | 293,481 | $ | 348,682 | $ | -97,121 | $ | 251,561 | 20-Jan | 4 | ||||||||
Accrued_And_Other_Liabilities_
Accrued And Other Liabilities (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Accrued And Other Liabilities [Abstract] | ||||||
Schedule Of Accrued Liabilities | ||||||
(in thousands) | 2015 | 2014 | ||||
Compensation and benefits | $ | 25,507 | $ | 20,726 | ||
Vendor accruals | 14,858 | 10,451 | ||||
Accrued professional fees | 1,344 | 532 | ||||
Accrued taxes | 8,403 | 8,577 | ||||
Royalties payable | 1,427 | 1,796 | ||||
Accrued interest | 42 | 43 | ||||
Accrued earnouts related to acquisitions | 271 | 185 | ||||
Accrued other | 2,574 | 1,909 | ||||
Total | $ | 54,426 | $ | 44,219 | ||
Schedule Of Other Liabilities | ||||||
(in thousands) | 2015 | 2014 | ||||
Defined benefit pension obligation | $ | 6,307 | $ | 7,062 | ||
Long term tax liability | 3,083 | 2,029 | ||||
Long term earnouts related to acquisitions | 8,972 | 8,970 | ||||
Long term deferred revenue | 7,911 | 7,627 | ||||
Other long term liabilities | 7,483 | 9,210 | ||||
Total | $ | 33,756 | $ | 34,898 | ||
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Stock-Based Compensation Plans [Abstract] | ||||||||||||
Schedule Of Stock-Based Compensation Expense | ||||||||||||
Quarter Ended March 31, | ||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||
Restricted stock awards | $ | 10,329 | $ | 7,276 | ||||||||
Schedule Of Restricted Stock Units Award Activity | ||||||||||||
Quarter Ended March 31, | ||||||||||||
2015 | 2014 | |||||||||||
(in thousands, except per share amounts) | Number of Shares/Units | Weighted Average Fair Value | Number of Shares/Units | Weighted Average Fair Value | ||||||||
Restricted stock awards: | ||||||||||||
Granted under the 2004 Incentive Stock Plan | 273 | $ | 28.62 | 233 | $ | 80.82 | ||||||
International_Retirement_Plan_
International Retirement Plan (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
International Retirement Plan [Abstract] | ||||||
Components Of Net Periodic Benefit Costs And Other Amounts Recognized In Other Comprehensive Income | ||||||
Quarter Ended March 31, | ||||||
(in thousands) | 2015 | 2014 | ||||
Service cost | $ | 47 | $ | 45 | ||
Interest cost | 62 | 62 | ||||
Total | $ | 109 | $ | 107 | ||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Earnings (Loss) Per Share, Basic And Diluted [Abstract] | ||||||
Schedule Of Earnings Per Share Reconciliation | Quarter Ended March 31, | |||||
(in thousands, except per share amounts) | 2015 | 2014 | ||||
Numerator for basic and diluted net earnings per share: | ||||||
Net income (loss) attributable to 3D Systems Corporation | $ | -13,181 | $ | 4,877 | ||
Denominator for basic and diluted net earnings per share: | ||||||
Weighted average shares | 111,731 | 103,546 | ||||
Earnings (loss) per share, basic and diluted | $ | -0.12 | $ | 0.05 | ||
Interest expense excluded from diluted earnings per share calculation (a) | $ | — | $ | 156 | ||
5.50% Convertible notes shares excluded from diluted earnings per share calculation (a) | — | 876 | ||||
(a) | Average outstanding diluted earnings per share calculation excludes shares that may be issued upon conversion of the outstanding senior convertible notes since the effect of their inclusion would have been anti-dilutive. | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Fair Value Measurements [Abstract] | ||||||||||||
Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis | ||||||||||||
Fair Value Measurements as of March 31, 2015 | ||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||
Description | ||||||||||||
Cash equivalents (a) | $ | 87,920 | $ | — | $ | — | $ | 87,920 | ||||
Redeemable noncontrolling interests (b) | $ | — | $ | — | $ | 8,872 | $ | 8,872 | ||||
(a) | Cash equivalents include funds held in money market instruments and are reported at their current carrying value, which approximates fair value due to the short-term nature of these instruments and are included in cash and cash equivalents in the consolidated balance sheet. | |||||||||||
(b) | Redeemable noncontrolling interests represents a put option that owners of interests in a certain subsidiary have the right, in certain circumstances, to require the Company to acquire either a portion of, or all of, the remaining ownership interests held by them. The Company determines the fair value of the redeemable noncontrolling interests based on unobservable inputs considering the assumptions that market participants would make in pricing the obligation. Given the significance of the unobservable inputs, the valuations are classified in level 3 of the fair value hierarchy. See Note 15. | |||||||||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Segment Information [Abstract] | ||||||||||||||||
Schedule Of Revenue From Unaffiliated Customers By Geographic Area | ||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Revenue from unaffiliated customers: | ||||||||||||||||
Americas | $ | 86,262 | $ | 68,032 | ||||||||||||
Germany | 21,250 | 23,825 | ||||||||||||||
Other EMEA | 27,454 | 23,739 | ||||||||||||||
Asia Pacific | 25,756 | 32,162 | ||||||||||||||
Total | $ | 160,722 | $ | 147,758 | ||||||||||||
Schedule Of Revenue From Unaffiliated Customers By Product | ||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Products | $ | 62,715 | $ | 60,753 | ||||||||||||
Materials | 37,107 | 40,441 | ||||||||||||||
Services | 60,900 | 46,564 | ||||||||||||||
Total revenue | $ | 160,722 | $ | 147,758 | ||||||||||||
Schedule Of Intercompany Sales By Geographic Area | ||||||||||||||||
Quarter Ended March 31, 2015 | ||||||||||||||||
Intercompany Sales to | ||||||||||||||||
(in thousands) | Americas | Germany | Other EMEA | Asia Pacific | Total | |||||||||||
Americas | $ | 480 | $ | 10,134 | $ | 5,837 | $ | 4,973 | $ | 21,424 | ||||||
Germany | — | — | 804 | — | 804 | |||||||||||
Other EMEA | 14,915 | 654 | 864 | 646 | 17,079 | |||||||||||
Asia Pacific | 626 | — | 13 | 758 | 1,397 | |||||||||||
Total | $ | 16,021 | $ | 10,788 | $ | 7,518 | $ | 6,377 | $ | 40,704 | ||||||
Quarter Ended March 31, 2014 | ||||||||||||||||
Intercompany Sales to | ||||||||||||||||
(in thousands) | Americas | Germany | Other EMEA | Asia Pacific | Total | |||||||||||
Americas | $ | — | $ | 10,937 | $ | 4,947 | $ | 2,346 | $ | 18,230 | ||||||
Germany | 409 | — | 1,478 | — | 1,887 | |||||||||||
Other EMEA | 10,043 | 1,330 | 332 | 555 | 12,260 | |||||||||||
Asia Pacific | 482 | — | — | 682 | 1,164 | |||||||||||
Total | $ | 10,934 | $ | 12,267 | $ | 6,757 | $ | 3,583 | $ | 33,541 | ||||||
Schedule Of Income Or Loss From Operations By Geographic Area | ||||||||||||||||
Quarter Ended March 31, | ||||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Income (loss) from operations: | ||||||||||||||||
Americas | $ | -23,106 | $ | -2,030 | ||||||||||||
Germany | 1,840 | 197 | ||||||||||||||
Other EMEA | -1,335 | 2,401 | ||||||||||||||
Asia Pacific | 5,584 | 9,067 | ||||||||||||||
Subtotal | -17,017 | 9,635 | ||||||||||||||
Inter-segment elimination | -507 | -118 | ||||||||||||||
Total | $ | -17,524 | $ | 9,517 | ||||||||||||
Schedule Of Assets By Geographic Area | ||||||||||||||||
March 31, | December 31, | |||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Assets: | ||||||||||||||||
Americas | $ | 920,092 | $ | 1,018,113 | ||||||||||||
Germany | 53,448 | 47,524 | ||||||||||||||
Other EMEA | 467,263 | 382,259 | ||||||||||||||
Asia Pacific | 72,624 | 78,074 | ||||||||||||||
Total | $ | 1,513,427 | $ | 1,525,970 | ||||||||||||
Schedule Of Cash Equivalents By Geographic Area | ||||||||||||||||
March 31, | December 31, | |||||||||||||||
(in thousands) | 2015 | 2014 | ||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Americas | $ | 149,629 | $ | 245,219 | ||||||||||||
Germany | 13,419 | 6,640 | ||||||||||||||
Other EMEA | 22,231 | 15,556 | ||||||||||||||
Asia Pacific | 14,617 | 17,447 | ||||||||||||||
Total | $ | 199,896 | $ | 284,862 | ||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Commitments And Contingencies [Abstract] | ||||||
Changes In Redeemable Noncontrolling Interests | ||||||
(in thousands) | March 31, | December 31, | ||||
2015 | 2014 | |||||
Beginning balance | $ | 8,872 | $ | — | ||
Changes in redemption value | — | 8,550 | ||||
Currency translation adjustments | — | 322 | ||||
Ending balance | $ | 8,872 | $ | 8,872 | ||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | |||||||||
(in thousands) | Foreign currency translation adjustment | Defined benefit pension plan | Total | ||||||
Balance at December 31, 2014 | $ | -22,195 | $ | -2,211 | $ | -24,406 | |||
Other comprehensive income (loss) | -20,832 | 265 | -20,567 | ||||||
Balance at March 31, 2015 | $ | -43,027 | $ | -1,946 | $ | -44,973 | |||
Acquisitions_Fiscal_Year_2015_
Acquisitions (Fiscal Year 2015 Acquisitions) (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | |
In Thousands, unless otherwise specified | Feb. 09, 2015 | Mar. 31, 2015 | Apr. 02, 2015 |
Cimatron [Member] | |||
Business Acquisition [Line Items] | |||
Date of acquisition | 9-Feb-15 | ||
Cash paid for business acquisition | $77,984 | ||
Business acquisition, ownership percentage | 100.00% | ||
Robtec [Member] | |||
Business Acquisition [Line Items] | |||
Date of acquisition | 25-Nov-14 | ||
Business acquisition, ownership percentage | 70.00% | ||
Subsequent Event [Member] | Wuxi Easyway [Member] | |||
Business Acquisition [Line Items] | |||
Subsequent event date | 2-Apr-15 | ||
Business acquisition, ownership percentage | 65.00% |
Acquisitions_Purchase_Price_Al
Acquisitions (Purchase Price Allocation To Assets Acquired And Liabilities Assumed) (Details) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Acquisitions [Abstract] | |
Fixed assets | $287 |
Other intangible assets, net | 50,700 |
Goodwill | 37,580 |
Other assets, net of cash acquired | 17,040 |
Liabilities | -27,623 |
Net assets acquired | $77,984 |
Inventories_Components_Of_Inve
Inventories (Components Of Inventories) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ||
Raw materials | $54,489 | $46,850 |
Work in process | 2,338 | 2,304 |
Finished goods and parts | 57,775 | 47,491 |
Inventories, net | $114,602 | $96,645 |
Property_And_Equipment_Narrati
Property And Equipment (Narrative) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Property And Equipment [Abstract] | ||
Depreciation and amortization expense | $4,709 | $3,036 |
Property_And_Equipment_Schedul
Property And Equipment (Schedule Of Property And Equipment) (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | $138,725 | $134,611 | |
Less: Accumulated depreciation and amortization | -55,988 | -52,730 | |
Total property and equipment, net | 82,737 | 81,881 | |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 541 | 541 | |
Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 9,373 | 9,370 | |
Property and equipment, useful life, in years | 25 years | ||
Machinery And Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 93,467 | 84,443 | |
Capitalized Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 3,853 | 3,693 | |
Office Furniture And Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 4,566 | 3,478 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 14,561 | 12,447 | |
Leasehold improvements useful life | Life of lease (a) | [1] | |
Rental Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 498 | 557 | |
Property and equipment, useful life, in years | 5 years | ||
Construction In Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | $11,866 | $20,082 | |
Minimum [Member] | Machinery And Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life, in years | 3 years | ||
Minimum [Member] | Capitalized Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life, in years | 3 years | ||
Minimum [Member] | Office Furniture And Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life, in years | 3 years | ||
Maximum [Member] | Machinery And Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life, in years | 7 years | ||
Maximum [Member] | Capitalized Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life, in years | 5 years | ||
Maximum [Member] | Office Furniture And Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, useful life, in years | 5 years | ||
[1] | Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful lives and (ii) the estimated or contractual life of the related lease. |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Intangible Assets [Abstract] | ||
Amortization expense for intangible assets | $14,517 | $9,204 |
Annual estimated amortization expense, in 2015 | 54,467 | |
Annual estimated amortization expense, in 2016 | 48,813 | |
Annual estimated amortization expense, in 2017 | 43,796 | |
Annual estimated amortization expense, in 2018 | 35,663 | |
Annual estimated amortization expense, in 2019 | 25,876 | |
Costs incurred to acquire intangible assets | $203 | $210 |
Intangible_Assets_Intangible_A
Intangible Assets (Intangible Assets Other Than Goodwill) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Accumulated Amortization | ($105,391) | ($97,121) |
Intangible assets, Gross | 398,872 | 348,682 |
Intangible assets, Net | 293,481 | 251,561 |
Weighted average useful life | 4 years | |
Trademarks [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets | 2,110 | 2,110 |
Licenses [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 5,875 | 5,875 |
Intangible assets with finite lives: Accumulated Amortization | -5,875 | -5,875 |
Patent Costs [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 20,949 | 20,733 |
Intangible assets with finite lives: Accumulated Amortization | -7,613 | -7,369 |
Intangible assets with finite lives: Net | 13,336 | 13,364 |
Weighted average useful life | 3 years | |
Acquired Technology [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 71,498 | 57,383 |
Intangible assets with finite lives: Accumulated Amortization | -20,687 | -18,241 |
Intangible assets with finite lives: Net | 50,811 | 39,142 |
Weighted average useful life | 4 years | |
Internally Developed Software [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 9,072 | 9,073 |
Intangible assets with finite lives: Accumulated Amortization | -5,878 | -5,517 |
Intangible assets with finite lives: Net | 3,194 | 3,556 |
Customer Relationships [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 185,497 | 157,139 |
Intangible assets with finite lives: Accumulated Amortization | -39,163 | -36,975 |
Intangible assets with finite lives: Net | 146,334 | 120,164 |
Weighted average useful life | 2 years | |
Non-Compete Agreements [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 35,114 | 35,469 |
Intangible assets with finite lives: Accumulated Amortization | -12,637 | -11,784 |
Intangible assets with finite lives: Net | 22,477 | 23,685 |
Weighted average useful life | 3 years | |
Trade Names [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 26,774 | 21,800 |
Intangible assets with finite lives: Accumulated Amortization | -4,684 | -4,455 |
Intangible assets with finite lives: Net | 22,090 | 17,345 |
Weighted average useful life | 5 years | |
Other [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets with finite lives: Gross | 41,983 | 39,100 |
Intangible assets with finite lives: Accumulated Amortization | -8,854 | -6,905 |
Intangible assets with finite lives: Net | $33,129 | $32,195 |
Weighted average useful life | 1 year | |
Minimum [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 1 year | |
Minimum [Member] | Patent Costs [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 5 years | |
Minimum [Member] | Acquired Technology [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 3 years | |
Minimum [Member] | Internally Developed Software [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 1 year | |
Minimum [Member] | Customer Relationships [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 3 years | |
Minimum [Member] | Non-Compete Agreements [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 3 years | |
Minimum [Member] | Trade Names [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 2 years | |
Minimum [Member] | Other [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 4 years | |
Maximum [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 20 years | |
Maximum [Member] | Patent Costs [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 20 years | |
Maximum [Member] | Acquired Technology [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 10 years | |
Maximum [Member] | Internally Developed Software [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 8 years | |
Weighted average useful life | 1 year | |
Maximum [Member] | Customer Relationships [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 11 years | |
Maximum [Member] | Non-Compete Agreements [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 11 years | |
Maximum [Member] | Trade Names [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 10 years | |
Maximum [Member] | Other [Member] | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 10 years |
Accrued_And_Other_Liabilities_1
Accrued And Other Liabilities (Schedule Of Accrued Liabilities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current Accrued Liabilities [Line Items] | ||
Compensation and benefits | $25,507 | $20,726 |
Vendor accruals | 14,858 | 10,451 |
Accrued professional fees | 1,344 | 532 |
Accrued taxes | 8,403 | 8,577 |
Royalties payable | 1,427 | 1,796 |
Accrued interest | 42 | 43 |
Accrued other | 2,574 | 1,909 |
Total | 54,426 | 44,219 |
Other Current Liabilities [Member] | ||
Current Accrued Liabilities [Line Items] | ||
Accrued earnouts related to acquisitions | $271 | $185 |
Accrued_And_Other_Liabilities_2
Accrued And Other Liabilities (Schedule Of Other Liabilities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Noncurrent Accrued Liabilities [Line Items] | ||
Defined benefit pension obligation | $6,307 | $7,062 |
Long-term tax liability | 3,083 | 2,029 |
Long-term deferred revenue | 7,911 | 7,627 |
Other long-term liabilities | 7,483 | 9,210 |
Total | 33,756 | 34,898 |
Other Noncurrent Liabilities [Member] | ||
Noncurrent Accrued Liabilities [Line Items] | ||
Long term earnouts related to acquisitions | $8,972 | $8,970 |
Hedging_Activities_And_Financi1
Hedging Activities And Financial Instruments (Narrative) (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Foreign currency derivative contracts | $0 | $0 | |
Foreign currency gain (loss) | -20,832 | -13 | |
Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Foreign currency gain (loss) | ($2,194) | $205 |
Borrowings_Narrative_Details
Borrowings (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 10, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Oct. 10, 2014 |
item | ||||
Debt Instrument [Line Items] | ||||
Line of credit, initiation date | 10-Oct-14 | |||
Capitalized leases | $9,078 | $9,434 | ||
Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Unsecured credit facility, maximum borrowing capacity | 150,000 | 150,000 | ||
Debt Instrument, Term | 5 years | |||
Debt maturity date | 10-Oct-19 | |||
Potential increase under credit facility | 75,000 | |||
Ratio of total funded indebtedness to consolidated EBITDA | 3 | |||
Ratio of Consolidated EBITDA to cash interest expense | 3.5 | |||
Balance on credit facility | 0 | 0 | ||
Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable basis spread | 0.50% | |||
Revolving Credit Facility [Member] | LIBOR [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable basis spread | 1.00% | |||
LayerWise NV [Member] | Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Balance on credit facility | 0 | 0 | ||
Commitment fee percentage | 0.13% | |||
LayerWise NV [Member] | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Balance on loan | 66 | 127 | ||
Minimum [Member] | Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Quarterly commitment fee percentage | 0.20% | |||
Minimum [Member] | Revolving Credit Facility [Member] | Leverage Ratio [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable basis spread | 0.25% | |||
Minimum [Member] | Revolving Credit Facility [Member] | LIBOR Rate Plus Levarage Ratio Margin [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable basis spread | 1.25% | |||
Minimum [Member] | LayerWise NV [Member] | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest rate | 1.34% | |||
Maximum [Member] | Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Quarterly commitment fee percentage | 0.25% | |||
Maxiimum cash dividends in a fiscal year | $30,000 | |||
Maximum [Member] | Revolving Credit Facility [Member] | Leverage Ratio [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable basis spread | 0.50% | |||
Maximum [Member] | Revolving Credit Facility [Member] | LIBOR Rate Plus Levarage Ratio Margin [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable basis spread | 1.50% | |||
Maximum [Member] | LayerWise NV [Member] | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest rate | 5.40% |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
2004 Incentive Stock Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock awards granted | 273,000 | 233,000 |
2004 Restricted Stock Plan For Non Employee Directors [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock awards granted | 0 | 0 |
Restricted Stock Awards [Member] | 2004 Incentive Stock Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock awards granted | 273,000 | 233,000 |
Restricted stock awards remaining to grant | 148,000 | |
Executive Officer [Member] | Restricted Stock Awards [Member] | 2004 Incentive Stock Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock awards granted | 60,000 | 30,000 |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans (Schedule Of Stock-Based Compensation) (Details) (Restricted Stock Awards [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share based compensation expense | $10,329 | $7,276 |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans (Schedule Of Restricted Stock Units Award Activity) (Details) (2004 Incentive Stock Plan [Member], USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
2004 Incentive Stock Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock awards granted | 273,000 | 233,000 |
Restricted stock awards granted, weighted average exercise price | $28.62 | $80.82 |
International_Retirement_Plan_1
International Retirement Plan (Components Of Net Periodic Benefit Costs And Other Amounts Recognized In Other Comprehensive Income) (Details) (International Retirement Plan [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
International Retirement Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $47 | $45 |
Interest cost | 62 | 62 |
Total | $109 | $107 |
Earnings_Loss_Per_Share_Narrat
Earnings (Loss) Per Share (Narrative) (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings (Loss) Per Share, Basic And Diluted [Abstract] | ||
Average common shares for basic and diluted earnings per share | 111,731 | 103,546 |
Earnings per share, basic and diluted | ($0.12) | $0.05 |
Earnings_Loss_Per_Share_Schedu
Earnings (Loss) Per Share (Schedule Of Earnings Per Share Reconciliation) (Details) (USD $) | 3 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings (Loss) Per Share, Basic And Diluted [Abstract] | |||
Net income (loss) attributable to 3D Systems Corporation - numerator for basic and diluted net earnings per share | ($13,181) | $4,877 | |
Weighted average shares | 111,731 | 103,546 | |
Earnings (loss) per share, basic and diluted | ($0.12) | $0.05 | |
Interest expense excluded from diluted earnings per share calculation | $156 | [1] | |
5.5% Convertible notes shares excluded from diluted earnings per share calculation | 876 | [1] | |
[1] | Average outstanding diluted earnings per share calculation excludes shares that may be issued upon conversion of the outstanding senior convertible notes since the effect of their inclusion would have been anti-dilutive. |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Measurements [Abstract] | ||
Fair value assets transferred from level 1 to level 2 | $0 | |
Fair value of liabilities transferred from level 1 to level 2 | 0 | |
Asset impairments | $0 | $0 |
Fair_Value_Measurements_Summar
Fair Value Measurements (Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) (USD $) | Mar. 31, 2015 | |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $87,920 | [1] |
Redeemable noncontrolling interest | 8,872 | [2] |
Redeemable Noncontrolling Interest, Equity, Fair Value | 8,872 | [2] |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 87,920 | [1] |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Redeemable noncontrolling interest | 8,872 | [2] |
Redeemable Noncontrolling Interest, Equity, Fair Value | $8,872 | [2] |
[1] | Cash equivalents include funds held in money market instruments and are reported at their current carrying value, which approximates fair value due to the short-term nature of these instruments and are included in cash and cash equivalents in the consolidated balance sheet. | |
[2] | Redeemable noncontrolling interests represents a put option that owners of interests in a certain subsidiary have the right, in certain circumstances, to require the Company to acquire either a portion of, or all of, the remaining ownership interests held by them. The Company determines the fair value of the redeemable noncontrolling interests based on unobservable inputs considering the assumptions that market participants would make in pricing the obligation. Given the significance of the unobservable inputs, the valuations are classified in level 3 of the fair value hierarchy. See Note 15. |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Taxes [Line Items] | ||
Effective tax rate | 34.60% | 42.00% |
U.S. Internal Revenue Service [Member] | Minimum [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2011 | |
U.S. Internal Revenue Service [Member] | Maximum [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2014 | |
U.S. Internal Revenue Service, Loss Carryforward [Member] | Minimum [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 1997 | |
U.S. Internal Revenue Service, Loss Carryforward [Member] | Maximum [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2007 | |
Australia Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2009 | |
Belgium Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2010 | |
Brazil Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2014 | |
China Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2010 | |
France Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2011 | |
German Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2011 | |
India Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2012 | |
Israel Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2010 | |
Italy Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2009 | |
Japan Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2008 | |
Korea Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2009 | |
Mexican Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2014 | |
Netherlands Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2007 | |
Switzerland Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2008 | |
United Kingdom Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2009 | |
Uruguay Tax Authority [Member] | ||
Income Taxes [Line Items] | ||
Tax years subject to examination | 2014 |
Segment_Information_Schedule_O
Segment Information (Schedule Of Revenue From Unaffiliated Customers By Geographic Area) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Revenue from unaffiliated customers | $160,722 | $147,758 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue from unaffiliated customers | 86,262 | 68,032 |
Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue from unaffiliated customers | 21,250 | 23,825 |
Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue from unaffiliated customers | 27,454 | 23,739 |
Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue from unaffiliated customers | $25,756 | $32,162 |
Segment_Information_Schedule_O1
Segment Information (Schedule Of Revenue From Unaffiliated Customers By Product) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Revenue | $160,722 | $147,758 |
Products [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 62,715 | 60,753 |
Materials [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 37,107 | 40,441 |
Services [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | $60,900 | $46,564 |
Segment_Information_Schedule_O2
Segment Information (Schedule Of Intercompany Sales By Geographic Area) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Intercompany sales | $160,722 | $147,758 |
Intercompany Sales To Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 16,021 | 10,934 |
Intercompany Sales To Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 10,788 | 12,267 |
Intercompany Sales To Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 7,518 | 6,757 |
Intercompany Sales To Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 6,377 | 3,583 |
Inter-Segment Elimination [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 40,704 | 33,541 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 86,262 | 68,032 |
Americas [Member] | Intercompany Sales To Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 480 | |
Americas [Member] | Intercompany Sales To Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 10,134 | 10,937 |
Americas [Member] | Intercompany Sales To Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 5,837 | 4,947 |
Americas [Member] | Intercompany Sales To Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 4,973 | 2,346 |
Americas [Member] | Inter-Segment Elimination [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 21,424 | 18,230 |
Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 21,250 | 23,825 |
Germany [Member] | Intercompany Sales To Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 409 | |
Germany [Member] | Intercompany Sales To Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 804 | 1,478 |
Germany [Member] | Inter-Segment Elimination [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 804 | 1,887 |
Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 27,454 | 23,739 |
Other EMEA [Member] | Intercompany Sales To Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 14,915 | 10,043 |
Other EMEA [Member] | Intercompany Sales To Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 654 | 1,330 |
Other EMEA [Member] | Intercompany Sales To Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 864 | 332 |
Other EMEA [Member] | Intercompany Sales To Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 646 | 555 |
Other EMEA [Member] | Inter-Segment Elimination [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 17,079 | 12,260 |
Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 25,756 | 32,162 |
Asia Pacific [Member] | Intercompany Sales To Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 626 | 482 |
Asia Pacific [Member] | Intercompany Sales To Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 13 | |
Asia Pacific [Member] | Intercompany Sales To Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | 758 | 682 |
Asia Pacific [Member] | Inter-Segment Elimination [Member] | ||
Segment Reporting Information [Line Items] | ||
Intercompany sales | $1,397 | $1,164 |
Segment_Information_Schedule_O3
Segment Information (Schedule Of Income Or Loss From Operations By Geographic Area) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | ($17,524) | $9,517 |
Subtotal [Member] | ||
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | -17,017 | 9,635 |
Inter-Segment Elimination [Member] | ||
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | -507 | -118 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | -23,106 | -2,030 |
Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | 1,840 | 197 |
Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | -1,335 | 2,401 |
Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Income (loss) from operations | $5,584 | $9,067 |
Segment_Information_Schedule_O4
Segment Information (Schedule Of Assets By Geographic Area) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ||
Assets | $1,513,427 | $1,525,970 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 920,092 | 1,018,113 |
Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 53,448 | 47,524 |
Other EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 467,263 | 382,259 |
Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | $72,624 | $78,074 |
Segment_Information_Schedule_O5
Segment Information (Schedule Of Cash And Cash Equivalents By Geographic Area) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Segment Reporting Information [Line Items] | ||||
Cash and cash equivalents | $199,896 | $284,862 | $306,704 | $306,316 |
Americas [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Cash and cash equivalents | 149,629 | 245,219 | ||
Germany [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Cash and cash equivalents | 13,419 | 6,640 | ||
Other EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Cash and cash equivalents | 22,231 | 15,556 | ||
Asia Pacific [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Cash and cash equivalents | $14,617 | $17,447 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Commitments And Contingencies [Abstract] | |||
Rent expense under operating leases | $3,204 | $2,311 | |
Supply commitments, printer assembly | 77,623 | 56,620 | |
Accrued liability recorded for earnouts | 9,243 | 9,155 | |
Estimated Amount Owed To Subsidiary Owners If Future Earning Levels Are Met | $8,872 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Changes In Redeemable Noncontrolling Interests) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Commitments And Contingencies [Abstract] | ||
Balance at January 1 | $8,872 | |
Changes in redemption value | 8,550 | |
Currency translation adjustments | 322 | |
Balance at March 31, | $8,872 | $8,872 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Beginning Balance, AOCI | ($24,406) |
Other comprehensive income (loss) | -20,567 |
Ending Balance, AOCI | -44,973 |
Foreign Currency Translation Adjustments [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Beginning Balance, AOCI | -22,195 |
Other comprehensive income (loss) | -20,832 |
Ending Balance, AOCI | -43,027 |
Defined Benefit Pension Plan [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Beginning Balance, AOCI | -2,211 |
Other comprehensive income (loss) | 265 |
Ending Balance, AOCI | ($1,946) |
Noncontrolling_Interests_Detai
Noncontrolling Interests (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Phenix Systems [Member] | |
Business Acquisition [Line Items] | |
Business acquisition, ownership percentage | 95.00% |
Date of acquisition | 15-Jul-13 |
Robtec [Member] | |
Business Acquisition [Line Items] | |
Business acquisition, ownership percentage | 70.00% |
Date of acquisition | 25-Nov-14 |
Subsequent_Event_Details
Subsequent Event (Details) (Subsequent Event [Member], Wuxi Easyway [Member]) | 3 Months Ended | |
Mar. 31, 2015 | Apr. 02, 2015 | |
Subsequent Event [Member] | Wuxi Easyway [Member] | ||
Subsequent Event [Line Items] | ||
Business acquisition, ownership percentage | 65.00% | |
Subsequent event date | 2-Apr-15 |