3D Systems (DDD) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 04, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-34220
Entity Registrant Name	3D SYSTEMS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4431352
Entity Address, Address Line One	333 Three D Systems Circle
Entity Address, City or Town	Rock Hill
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29730
City Area Code	803
Local Phone Number	326-3900
Title of each class	Common Stock, par value $0.001 per share
Trading Symbol	DDD
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		127,729,349
Entity Central Index Key	0000910638
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 502,752	$ 75,010
Accounts receivable, net of reserves — $3,470 and $4,392	89,926	114,254
Inventories	89,325	116,667
Prepaid expenses and other current assets	25,963	33,145
Current assets held for sale	0	18,439
Total current assets	707,966	357,515
Property and equipment, net	57,720	75,356
Intangible assets, net	30,251	28,083
Goodwill	139,906	161,765
Right of use assets	44,514	48,620
Deferred income tax asset	3,475	6,247
Assets held for sale	0	31,684
Other assets	21,271	23,785
Total assets	1,005,103	733,055
Current liabilities:
Current portion of long-term debt	0	2,051
Current right of use liabilities	8,176	9,534
Accounts payable	44,946	45,174
Accrued and other liabilities	78,152	69,812
Customer deposits	9,405	7,750
Deferred revenue	27,509	30,302
Current liabilities held for sale	0	11,107
Total current liabilities	168,188	175,730
Long-term debt, net of deferred financing costs	0	19,218
Long-term right of use liabilities	45,533	48,469
Deferred income tax liability	3,142	4,716
Liabilities held for sale	0	2,952
Other liabilities	39,090	51,247
Total liabilities	255,953	302,332
Commitments and contingencies (Note 14)
Stockholders’ equity:
Common stock, $0.001 par value, authorized 220,000 shares; issued 126,758 and 127,626	127	128
Additional paid-in capital	1,410,576	1,404,964
Treasury stock, at cost — 1,623 shares and 3,494 shares	(10,492)	(22,590)
Accumulated deficit	(615,051)	(943,303)
Accumulated other comprehensive loss	(36,010)	(8,476)
Total stockholders’ equity	749,150	430,723
Total liabilities and stockholders’ equity	$ 1,005,103	$ 733,055

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Accounts receivable, reserves	$ 3,470	$ 4,392
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	220,000,000	220,000,000
Common stock, shares issued (in shares)	126,758,000	127,626,000
Treasury stock, at cost, shares (in shares)	1,623,000	3,494,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Total revenue	$ 156,096	$ 136,176	$ 464,769	$ 384,588
Cost of sales:
Total cost of sales	91,781	77,549	267,209	233,662
Gross profit	64,315	58,627	197,560	150,926
Operating expenses:
Selling, general and administrative	65,737	59,065	176,800	167,213
Research and development	15,786	18,866	49,987	55,107
Impairment of goodwill	0	48,300	0	48,300
Total operating expenses	81,523	126,231	226,787	270,620
Loss from operations	(17,208)	(67,604)	(29,227)	(119,694)
Interest and other income (expense), net	315,859	(2,419)	354,396	(7,598)
Income (loss) before income taxes	298,651	(70,023)	325,169	(127,292)
Benefit (provision) for income taxes	(5,995)	(2,866)	3,083	(2,472)
Net income (loss)	$ 292,656	$ (72,889)	$ 328,252	$ (129,764)
Net income (loss) per common share:
Basic (in dollars per share)	$ 2.39	$ (0.61)	$ 2.69	$ (1.12)
Diluted (in dollars per share)	$ 2.34	$ (0.61)	$ 2.63	$ (1.12)
Weighted average shares outstanding:
Basic (in shares)	122,663	118,527	122,178	116,216
Diluted (in shares)	125,289	118,527	124,839	116,216
Products
Revenue:
Total revenue	$ 108,884	$ 78,296	$ 311,170	$ 220,248
Cost of sales:
Total cost of sales	64,252	48,213	180,251	147,950
Services
Revenue:
Total revenue	47,212	57,880	153,599	164,340
Cost of sales:
Total cost of sales	$ 27,529	$ 29,336	$ 86,958	$ 85,712

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 292,656	$ (72,889)	$ 328,252	$ (129,764)
Other comprehensive income (loss), net of taxes:
Pension adjustments	125	(47)	334	130
Derivative financial instruments	0	11	721	(413)
Foreign currency translation	(15,277)	11,214	(37,501)	8,079
Foreign currency translation reclassification - sales of Cimatron and Simbionix	2,431	0	8,912	0
Total other comprehensive income (loss), net of taxes	(12,721)	11,178	(27,534)	7,796
Total comprehensive income (loss), net of taxes	$ 279,935	$ (61,711)	$ 300,718	$ (121,968)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income (loss)		$ 328,252	$ (129,764)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		26,292	34,830
Stock-based compensation		43,991	16,621
Provision for inventory obsolescence and revaluation		1,100	10,894
Loss on hedge accounting de-designation and termination		721	1,235
Provision for bad debts		620	1,039
Gain on the disposition of businesses, property, equipment and other assets		(351,981)	434
Provision for deferred income taxes and reserve adjustments		(9,380)	0
Impairment of goodwill and assets		0	54,072
Changes in operating accounts:
Accounts receivable		(2,151)	12,668
Inventories		7,095	(23,987)
Prepaid expenses and other current assets		5,338	(15,376)
Accounts payable		15,517	(9,166)
Deferred revenue and customer deposits		5,401	2,714
Accrued and other liabilities		(9,859)	6,309
All other operating activities		1,696	4,828
Net cash provided by (used in) operating activities		62,652	(32,649)
Cash flows from investing activities:
Purchases of property and equipment		(14,814)	(11,015)
Proceeds from sale of assets and businesses, net of cash		427,664	552
Business acquisitions, net of cash acquired		(10,936)	0
Purchase of noncontrolling interest		(4,000)	(12,500)
Other investing activities		(2,273)	504
Net cash provided by (used in) investing activities		395,641	(22,459)
Cash flows from financing activities:
Proceeds from revolving credit facilities		0	20,000
Payments on revolving credit facilities		0	(20,000)
Repayment of borrowings/long-term debt		(21,392)	(26,547)
Proceeds from issuance of common stock		0	25,003
Proceeds from inventory financing agreements		0	2,509
Payments related to net-share settlement of stock-based compensation		(10,386)	(5,034)
Other financing activities		(424)	296
Net cash used in financing activities		(32,202)	(3,773)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(7,737)	526
Net increase (decrease) in cash, cash equivalents and restricted cash		418,354	(58,355)
Cash, cash equivalents and restricted cash at the beginning of the period	[1]	84,711	134,617
Cash, cash equivalents and restricted cash at the end of the period	[1]	503,065	76,262
Supplemental cash flow information
Lease assets obtained in exchange for new lease liabilities (excludes adoption)		2,088	0
Cash interest payments		1,234	1,836
Cash income tax payments (receipts), net		(1,514)	2,861
Transfer of equipment from inventory to property and equipment, net	[2]	1,610	671
Stock issued for acquisitions		$ 2,989	$ 0
[1]	The amounts for cash and cash equivalents shown above include restricted cash of $313 and $998 as of September 30, 2021 and 2020, respectively, and $540 and $952 as of December 31, 2020, and 2019, respectively, which were included in Other assets, net, and $9,161 as of December 31, 2020, which was included in Current assets held for sale in the condensed consolidated balance sheets.
[2]	Inventory is transferred from inventory to property and equipment at cost when we require additional machines for training or demonstration or for placement into on-demand manufacturing services locations.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Other Assets
Restricted cash included in other assets	$ 313	$ 540	$ 998	$ 952
Current assets held for sale
Restricted cash included in other assets		$ 9,161

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Total 3D Systems Corporation Stockholders' Equity	Common Stock	Additional Paid In Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Equity Attributable to Noncontrolling Interests
Beginning Balance at Dec. 31, 2019	$ 513,896	$ 522,159	$ 120	$ 1,371,564	$ (18,769)	$ (793,709)	$ (37,047)	$ (8,263)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of stock	19,969	19,969	8	23,782	(3,821)
Acquisition of non-controlling interest	0	(8,263)		(7,702)			(561)	8,263
Stock-based compensation expense	16,621	16,621		16,621
Net income (loss)	(129,764)	(129,764)				(129,764)
Pension Adjustment	130	130					130
Derivative financial instrument gain	(1,648)	(1,648)					(1,648)
Termination of derivative instrument	(413)
De-designation of derivative instrument	1,235	1,235					1,235
Foreign currency translation adjustment	8,079	8,079					8,079
Ending Balance at Sep. 30, 2020	428,518	428,518	128	1,404,265	(22,590)	(923,473)	(29,812)	0
Beginning Balance at Jun. 30, 2020	463,428		124	1,377,468	(22,590)	(850,584)	(40,990)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of stock	23,789		4	23,785
Stock-based compensation expense	3,012			3,012
Net income (loss)	(72,889)					(72,889)
Pension Adjustment	(47)						(47)
Derivative financial instrument gain	11						11
Termination of derivative instrument	11
Foreign currency translation adjustment	11,214						11,214
Ending Balance at Sep. 30, 2020	428,518	428,518	128	1,404,265	(22,590)	(923,473)	(29,812)	0
Beginning Balance at Dec. 31, 2020	430,723	430,723	128	1,404,964	(22,590)	(943,303)	(8,476)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of stock	(10,386)	(10,386)	1	(10,387)
Shares issued to acquire assets and businesses	2,989	2,989		2,989
Stock-based compensation expense	25,106	25,106		25,106
Net income (loss)	328,252	328,252				328,252
Pension Adjustment	181	181					181
Gain on pension plan - unrealized	153	153					153
Termination of derivative instrument	721	721					721
Retirement of treasury shares	0		(2)	(12,096)	12,098
Foreign currency translation adjustment	(28,589)	(28,589)					(28,589)
Ending Balance at Sep. 30, 2021	749,150	749,150	127	1,410,576	(10,492)	(615,051)	(36,010)	0
Beginning Balance at Jun. 30, 2021	466,539		127	1,407,900	(10,492)	(907,707)	(23,289)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payments related to net-share settlement of stock-based compensation	(3,757)			(3,757)
Shares issued to acquire assets and businesses	(511)			(511)
Stock-based compensation expense	6,944			6,944
Net income (loss)	292,656					292,656
Pension Adjustment	125						125
Termination of derivative instrument	0
Foreign currency translation adjustment	(12,846)						(12,846)
Ending Balance at Sep. 30, 2021	$ 749,150	$ 749,150	$ 127	$ 1,410,576	$ (10,492)	$ (615,051)	$ (36,010)	$ 0

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(1) Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of 3D Systems Corporation and all majority-owned subsidiaries and entities in which a controlling interest is maintained (“3D Systems” or the “Company” or “we” or “us”). All significant intercompany transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“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 our Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Form 10-K”). Our annual reporting period is the calendar year. 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 and nine months ended September 30, 2021 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. As we continue to closely monitor the COVID-19 pandemic, our top priority remains the health and safety of our employees and their families and communities. Our Crisis Response Steering Committee regularly reviews and adapts our protocols based on evolving research and guidance related to the virus. While essential operations continue, we continue to restrict travel and meetings, publish pertinent information, and adapt to a world where many in our workforce are remote and those coming on-site are following new safety measures. The company has selectively reopened its offices in certain of our locations and, where local conditions and regulation allow, our employees have begun to return to working on-site. We continue to watch conditions and regulations and remain committed to protecting our employees, delivering for our customers and supporting our communities. We are subject to the mandatory vaccination and workplace safety protocols of the United States Federal Government Executive Order on Ensuring Adequate COVID Safety Protocols for Federal Contractors, and the COVID-19 Workplace Safety Guidance for Federal Contractors and Subcontractors issued by the Safer Federal Workforce Task Force. Accordingly, we have adopted a policy to comply with the mandate that all U.S. employees be vaccinated within the mandated timeframe. Our operations in North America and South America (collectively referred to as “Americas”), Europe and the Middle East (collectively referred to as “EMEA”) and the Asia Pacific region (“APAC”) expose us to risks associated with public health crises and epidemics/pandemics, such as the COVID-19 pandemic. While the COVID-19 pandemic continued to impact our reported results for the quarter ended September 30, 2021, we are unable to predict the longer-term impact that the pandemic may have on our business, results of operations, financial position or cash flows. The extent to which our operations may be impacted by the dynamic nature of the COVID-19 pandemic will depend largely on future developments, which are highly uncertain and cannot be accurately predicted, including the severity or resurgence of the outbreak and actions by government authorities to contain the outbreak or treat its impact. Furthermore, the impacts of uncertain global economic conditions, further supply chain disruptions, including the shortages of critical components, and the continued disruptions to, and volatility in, the financial markets remain unknown. As of January 1, 2021, we determined the Company has two reportable segments, Healthcare and Industrial. The Company previously only reported its consolidated results in one segment. This change in segment reporting as of January 1, 2021 was the result of changes to how the chief operating decision maker (“CODM”) assesses the financial performance of the Company and in the decision-making process driving future operating performance. As a result of this re-segmentation, the Company performed a quantitative analysis for potential impairment of our goodwill immediately following the re-segmentation. Based on available information and analysis as of January 1, 2021, we determined the fair value of the Healthcare and Industrial reporting units exceeded their carrying values. Fair value was determined using a combination of an income approach, which estimates fair value based upon projections of future revenues, expenses, and cash flows discounted to its present value, and a market approach. The valuation methodology and underlying financial information included in the Company's determination of fair value required significant judgments by management. The principal assumptions used in the Company's discounted cash flow analysis consisted of (a) the long-term projections of future financial performance and (b) the weighted-average cost of capital of market participants, adjusted for the risk attributable to the Company and the industry in which it operates. Under the market approach, the principal assumption included an estimate for a control premium. All dollar amounts presented in the accompanying footnotes are presented in thousands, except for per share information. During the first quarter ended March 31, 2021 we became aware that certain amounts previously presented within our statements of operations as products cost of sales related to services cost of sales. We note that the total cost of sales line item was not affected. We further note that this error did not affect our gross profit, loss from operations, net income (loss), consolidated balance sheets or statements of cash flow. We evaluated the materiality of this presentation-only error and concluded it was not material to any previously reported quarter or year-end financial statement. The following schedule depicts the effect on our previously reported statements of operations. Quarter Ended September 30, 2020 Nine Months Ended September 30, 2020 (in thousands) As reported (a) Change Revised As reported (a) Change Revised Cost of sales: Products $ 50,038 $ (1,825) $ 48,213 $ 153,069 $ (5,119) $ 147,950 Services 27,511 1,825 29,336 80,593 5,119 85,712 Total cost of sales $ 77,549 $ — $ 77,549 $ 233,662 $ — $ 233,662 (a) As reported represents amounts derived from Note 25 to the consolidated financial statements as of and for the year ended December 31, 2020 and as disclosed in Note 1 to the consolidated financial statements as of and for the quarter ended March 31, 2021. Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, “ Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes ,” which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in Accounting Standards Codification 740, Income Taxes. It also clarifies certain aspects of the existing guidance to promote more consistent application. This standard is effective for calendar-year public business entities in 2021 and interim periods within that year, and early adoption is permitted. The Company adopted this guidance during the first quarter of 2021. The implementation did not have a material effect on our financial position or results of operations. No other new accounting pronouncements, issued or effective during 2021, have had or are expected to have a significant impact on our consolidated financial statements.

Dispositions and Acquisitions

Dispositions and Acquisitions	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Acquisitions	(2) Dispositions and Acquisitions Dispositions On January 1, 2021, we completed the sale of 100% of the issued and outstanding equity interests of Cimatron Ltd. ("Cimatron"), the subsidiary that operated the Company’s Cimatron integrated CAD/CAM software for tooling business and its GibbsCAM CNC programming software business, for approximately $64,173, after certain adjustments and excluding $9,476 of cash amounts transferred to the purchaser. We recorded a gain on the sale of $32,047 included within Interest and other income (expense), net on the accompanying condensed consolidated statements of operations for the nine months ended September 30, 2021. Additionally, at the time of the sale, we recognized a gain of $6,481 for accumulated foreign currency translation gain previously included in Accumulated other comprehensive loss (“AOCL”), which is included within Interest and other income (expense), net. This disposed of business would have been included within the Industrial segment. On September 9, 2021, we completed the sale of the non-French assets of the Company’s On Demand Manufacturing business. On September 20, 2021, the Company completed the sale of the French assets of the On Demand Manufacturing business. Collectively, this was the Company’s sale of the On Demand Manufacturing business (“ODM”). ODM was sold for $82,000, excluding certain adjustments. We recorded a gain on the sale of $39,273 included within Interest and other income (expense), net on the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2021. We are finalizing closing adjustments with the purchaser including but not limited to working capital adjustments, lease assignments as well as final transfer of net assets sold. ODM is primarily included within the Industrial segment. At closing, the Company and the purchaser entered into a transition services agreement pursuant to which the Company will provide certain information technology, corporate finance, tax, treasury, accounting, human resources and payroll, sales and marketing, operations, facilities and other customary services to support the purchaser in the ongoing operation of ODM for a period of time post-closing. On August 24, 2021, we completed the sale of 100% of the issued and outstanding equity interests of Simbionix USA Corporation, which owns our global medical simulation business (“Simbionix”), for $305,000, excluding certain closing adjustments and excluding $6,794 of cash transferred to the purchaser. We recorded a gain on the sale of $271,786 included within Interest and other income (expense), net on the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2021. Additionally, we recognized a gain of $2,431 for accumulated foreign currency translation gain previously included in AOCL, which is included within Interest and other income (expense), net. We are finalizing closing adjustments with the purchaser including, but not limited to, working capital adjustments, settlement of intercompany transactions and lease assignments. Simbionix is included within the Healthcare segment. Acquisitions On May 6, 2021, we purchased Allevi, Inc. to expand regenerative medicine initiatives into medical and pharmaceutical research and development laboratories. Additionally, on June 15, 2021, we closed the acquisition of a German software firm, Additive Works GmbH (“Additive”). Additive expands the simulation capabilities for rapid optimization of industrial-scale 3D printing processes. The purchase price for both acquisitions, individually and combined, and the expected impacts on the Company’s financial position, results of operations and cash flows are not material. On September 8, 2021, we entered into an Agreement and Plan of Merger with Oqton, Inc. (“Oqton”), to acquire Oqton for approximately $180,000, subject to customary closing conditions and adjustments, with an estimated $106,000 to be paid in cash and the remaining portion to be paid in shares of the Company’s Common Stock. We closed the Oqton acquisition on November 1, 2021. The purchase price is expected to impact our financial position via the reduction of cash and an increase in common shares outstanding and intangible assets, including goodwill. The acquisition’s near term impact on the Company’s results of operations and cash flows are expected to be dilutive. We are currently evaluating which segment Oqton goodwill will be assigned to. Oqton is a software company that creates an intelligent, cloud-based Manufacturing Operating System (MOS) platform tailored for flexible production environments that increasingly utilize a range of advanced manufacturing and automation technologies, including additive manufacturing (AM) solutions, in their production workflows. The cloud-based solution leverages the Industrial Internet of Things, artificial intelligence, and machine learning technologies to deliver a solution for customers to automate their digital manufacturing workflows, scale their operations and enhance their competitive position. Acquisitions of Noncontrolling Interests As of September 30, 2021, we owned 100% of the capital and voting rights of Robtec, a service bureau and distributor of 3D printing and scanning products in Brazil. Approximately 70% of the capital and voting rights of Robtec were acquired on November 25, 2014. On January 7, 2020, we made a payment equal to the redemption price of $10,000 and acquired the remaining 30% of the capital and voting rights. As of December 31, 2018, the Company owned approximately 70% of the capital and voting rights of Easyway, a service bureau and distributor of 3D printing and scanning products in China. Approximately 65% of the capital and voting rights of Easyway were acquired on April 2, 2015, and an additional 5% of the capital and voting rights of Easyway were acquired on July 19, 2017 for $2,300. The remaining 30% of the capital and voting rights of Easyway were acquired on January 21, 2019 for $13,500 to be paid in installments over four years for which $4,000 and $2,500 were paid in the first nine months of 2021 and 2020, respectively.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	(3) Revenue We account for revenue in accordance with ASC Topic 606, “ Revenue from Contracts with Customers .” Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. At September 30, 2021, we had $151,515 of outstanding performance obligations, comprised of deferred revenue, customer order backlog and customer deposits. We expect to recognize approximately 68% of deferred revenue as revenue within the next twelve months, an additional 5% by the end of 2022 and the remaining balance thereafter. Revenue Recognition Revenue is recognized when control of the promised products or services is transferred to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Many of our contracts with customers include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative stand-alone selling price (“SSP”). Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities. The amount of consideration received and revenue recognized may vary based on changes in marketing incentive programs offered to our customers. Our marketing incentive programs take many forms, including volume discounts, trade-in allowances, rebates and other discounts. A majority of our revenue is recognized at the point in time when products are shipped or services are delivered to customers. Please see below for further discussion. Hardware and Materials Revenue from hardware and material sales is recognized when control has transferred to the customer, which typically occurs when the goods have been shipped to the customer, risk of loss has transferred to the customer and we have a present right to payment. In limited circumstances, when printer or other hardware sales include substantive customer acceptance provisions, revenue is recognized either when customer acceptance has been obtained, customer acceptance provisions have lapsed, or we have objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. Printers and certain other products include a warranty under which we provide maintenance for periods up to one year. For these initial product warranties, estimated costs are accrued at the time of the sale of the product. These cost estimates are established using historical information on the nature, frequency and average cost of claims for each type of printer or other product as well as assumptions about future activity and events. Revisions to expense accruals are made as necessary based on changes in these historical and future factors. Software We also market and sell software tools that enable our customers to capture and customize content using our printers, design optimization and simulation software, and reverse engineering and inspection software. Software does not require significant modification or customization and the license provides the customer with a right to use the software as it exists when made available. Revenue from these software licenses is recognized either upon delivery of the product or upon delivery of a key code which allows the customer to download the software. Customers may purchase post-sale support. Generally, the first year of post-sale support is included as part of the initial software sale but subsequent years are optional. This optional support is considered a separate obligation from the software and is deferred at the time of sale and subsequently recognized ratably over future periods. Collaboration and Licensing Agreements We enter into collaboration and licensing agreements with third parties. The nature of the activities to be performed and the consideration exchanged under the agreements varies on a contract-by-contract basis. We evaluate these agreements to determine whether they meet the definition of a customer relationship for which revenue is recorded. These contracts may contain multiple performance obligations and may contain fees for licensing, research and development services, contingent milestone payments upon the achievement of developmental contractual criteria and/or royalty fees based on the licensees’ product revenue. We determine the revenue to be recognized for these agreements based on an evaluation of the distinct performance obligations, the identification and evaluation of material rights, the estimation of variable consideration and the determination of the pattern on transfer of control for each distinct performance obligation. The Company recognized $1,475 and $1,029 related to collaboration arrangements with customers for the quarters ended September 30, 2021 and 2020, respectively. The Company recognized $5,322 and $2,676 related to collaboration arrangements with customers for the nine months ended September 30, 2021 and 2020, respectively. Services We offer training, installation and non-contract maintenance services for our products. Additionally, we offer maintenance contracts customers can purchase at their option. For maintenance contracts, revenue is deferred at the time of sale based on the stand-alone selling prices of these services and costs are expensed as incurred. Deferred revenue is recognized ratably over the term of the maintenance period on a straight-line basis. Revenue from training, installation and non-contract maintenance services is recognized at the time of performance of the service. ODM and healthcare service sales are included within services revenue and revenue is recognized upon shipment or delivery of the parts or performance of the service, based on the terms of the arrangement. We sold ODM in the third quarter of 2021. See Note 2. Terms of Sale Shipping and handling activities are treated as fulfillment costs rather than as an additional promised service. We accrue the costs of shipping and handling when the related revenue is recognized. Our incurred costs associated with shipping and handling are included in product cost of sales. Credit is extended, and creditworthiness is determined, based on an evaluation of each customer’s financial condition. New customers are generally required to complete a credit application and provide references and bank information to facilitate an analysis of creditworthiness. Customers with a favorable profile may receive credit terms that differ from our general credit terms. Creditworthiness is considered, among other things, in evaluating our relationship with customers with past due balances. Our terms of sale generally provide payment terms that are customary in the countries where we transact business. To reduce credit risk in connection with certain sales, we may, depending upon the circumstances, require significant deposits, letters of credit or payment in full prior to shipment. For maintenance services, we either bill customers on a time-and-materials basis or sell maintenance contracts that provide for payment in advance on either an annual or other periodic basis. Significant Judgments Our contracts with customers often include promises to transfer multiple products and services to a customer. For such arrangements, we allocate revenues to each performance obligation based on its relative SSP. Judgment is required to determine the SSP for each distinct performance obligation in a contract. For the majority of items, we estimate SSP using historical transaction data. We use a range of amounts to estimate SSP when we sell each of the products and services separately and need to determine whether there is a discount to be allocated based on the relative SSP of the various products and services. In instances where SSP is not directly observable, such as when the product or service is not sold separately, we determine the SSP using information that may include market conditions and other observable inputs. In some circumstances, we have more than one SSP for individual products and services due to the stratification of those products and services by customers, geographic region or other factors. In these instances, we may use information such as the size of the customer and geographic region in determining the SSP. The determination of SSP is a regular process and information is reviewed regularly in order to ensure SSP reflects the most current information or trends. The nature of our marketing incentives may lead to consideration that is variable. Judgment is exercised at contract inception to determine the most likely outcome of the contract and resulting transaction price. Ongoing assessments are performed to determine if updates are needed to the original estimates. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer deposits and deferred revenues (contract liabilities) on the condensed consolidated balance sheets. Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized at the time of invoicing, or unbilled receivables when revenue is recognized prior to invoicing. For most of our contracts, customers are invoiced when products are shipped or when services are performed resulting in billed accounts receivables for the remainder of the owed contract price. Unbilled receivables generally result from items being shipped or services being performed where the customer has not been charged, but for which revenue had been recognized. We typically bill in advance for installation, training and maintenance contracts as well as extended warranties, resulting in deferred revenue. Changes in contract asset and liability balances were not materially impacted by any other factors for the nine months ended September 30, 2021. For the nine months ended September 30, 2021, we recognized revenue of $30,457 related to our contract liabilities at December 31, 2020 . For the nine months ended September 30, 2020 , we recognized revenue of $27,041 related to our contract liabilities at December 31, 2019. Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within selling, general and administrative expenses.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	(4) Segment Information Effective January 1, 2021, we changed our segment reporting under ASC 280 Segment Reporting. For periods prior to January 1, 2021, we operated under one operating segment, consistent with the information that was presented to our CODM. Effective January 1, 2021, we have identified two operating segments, Healthcare and Industrial. This change in reportable segments was necessitated as a result of changes to our enterprise wide financial reporting to reflect the re-organization of the business into the Healthcare and Industrial verticals that were launched January 1, 2021 at the request of our CODM. These changes resulted in revisions to the financial information provided to the CODM on a recurring basis in his evaluation of financial performance of the Company and in the decision-making process driving future operating performance. The CODM does not review disaggregated assets on a segment basis; therefore, such information is not presented. In addition, the changes made to our enterprise wide financial reporting system were prospective and prevent historical financial information for the Healthcare and Industrial segments to be available other than for revenue which has been disclosed below. We have evaluated potential alternatives to generate comparative prior period financial information for the Healthcare and Industrial segments, and believe that the practicality exception as proscribed in ASC 280 Segment Reporting is applicable due to the high degree of difficulty involved and the significant expense associated with overhauling the structure of legacy financial systems. The following tables set forth our net sales and operating results by segment: Quarter Ended September 30, 2021 2020 2021 (in thousands) Net Sales (a) Operating Profit Operations by segment: Healthcare $ 76,365 $ 59,498 $ 9,054 Industrial 79,731 76,678 13,198 Total $ 156,096 $ 136,176 22,252 General corporate expense, net (b) (39,460) Operating loss, as reported (17,208) Interest and other expense, net 315,859 Income before income taxes $ 298,651 Nine Months Ended September 30, 2021 2020 2021 (in thousands) Net Sales (a) Operating Profit Operations by segment: Healthcare $ 231,712 $ 160,926 $ 51,100 Industrial 233,057 223,662 35,678 Total $ 464,769 $ 384,588 86,778 General corporate expense, net (b) (116,005) Operating loss, as reported (29,227) Interest and other income, net 354,396 Income before income taxes $ 325,169 a. Approximately 45.9% and 50.5% of sales for the quarters ended September 30, 2021 and 2020, respectively, and 44.5% and 51.7% of sales for the nine months ended September 30, 2021 and 2020, respectively, were located outside of the U.S. b. General corporate expense, net includes expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	(5) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from one one Most of our leases do not provide an implicit rate; therefore, we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, incremental lease payments that are indexed to a change in rate or index are considered variable costs. Because the ROU asset and lease liability recorded on the balance sheet was determined based upon factors considered at the commencement date, subsequent changes in the rate or index that were not contemplated, result in variable expenses being incurred when actual payments differ from estimated payments. On February 25, 2021, the Company entered into an agreement to amend its lease for its corporate office and extended the term. As part of this agreement, the Company sold land owned adjacent to our corporate office for $400 and entered into a lease with the buyer of the land for a new building, containing approximately 80,000 to 100,000 rentable square feet, to be constructed by the lessor. The initial lease terms for both the existing building and the expansion site extend through August 2037. The lease for the new building will not commence until construction is substantially complete. Components of lease cost (income) were as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Operating lease cost $ 2,461 $ 3,014 $ 6,756 $ 9,020 Loss due to remeasurement — 1,627 — 1,627 Finance lease cost - amortization expense 151 241 444 681 Finance lease cost - interest expense 57 167 176 495 Short-term lease cost — 52 — 105 Variable lease cost 422 205 1,215 498 Sublease income (141) (155) (424) (459) Total $ 2,950 $ 5,151 $ 8,167 $ 11,967 Balance sheet classifications at September 30, 2021 and December 31, 2020 are summarized below: September 30, 2021 December 31, 2020 (in thousands) Right of use assets Current right of use liabilities Long-term right of use liabilities Right of use assets Current right of use liabilities Long-term right of use liabilities Operating Leases $ 40,573 $ 7,611 $ 41,333 $ 40,586 $ 8,562 $ 38,296 Finance Leases 3,941 565 4,200 8,034 972 10,173 Total $ 44,514 $ 8,176 $ 45,533 $ 48,620 $ 9,534 $ 48,469 Our future minimum lease payments as of September 30, 2021 under operating lease and finance leases, with initial or remaining lease terms in excess of one year, were as follows: September 30, 2021 (in thousands) Operating Leases Finance Leases Years ending September 30: 2021 $ 2,628 $ 216 2022 9,302 819 2023 8,149 792 2024 6,639 746 2025 5,271 699 Thereafter 30,546 2,465 Total lease payments 62,535 5,737 Less: imputed interest (13,591) (972) Present value of lease liabilities $ 48,944 $ 4,765 Supplemental cash flow information related to our leases for the nine months ending September 30, 2021 and September 30, 2020 were as follows: (in thousands) September 30, 2021 September 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 6,938 $ 9,654 Operating cash outflow from finance leases $ 176 $ 493 Financing cash outflow (inflow) from finance leases $ 484 $ 186 Weighted-average remaining lease terms and discount rate for our leases as of September 30, 2021, were as follows: September 30, 2021 Operating Financing Weighted-average remaining lease term (in years) 9.0 7.6 Weighted-average discount rate 5.53% 4.64%
Leases	(5) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from one one Most of our leases do not provide an implicit rate; therefore, we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, incremental lease payments that are indexed to a change in rate or index are considered variable costs. Because the ROU asset and lease liability recorded on the balance sheet was determined based upon factors considered at the commencement date, subsequent changes in the rate or index that were not contemplated, result in variable expenses being incurred when actual payments differ from estimated payments. On February 25, 2021, the Company entered into an agreement to amend its lease for its corporate office and extended the term. As part of this agreement, the Company sold land owned adjacent to our corporate office for $400 and entered into a lease with the buyer of the land for a new building, containing approximately 80,000 to 100,000 rentable square feet, to be constructed by the lessor. The initial lease terms for both the existing building and the expansion site extend through August 2037. The lease for the new building will not commence until construction is substantially complete. Components of lease cost (income) were as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Operating lease cost $ 2,461 $ 3,014 $ 6,756 $ 9,020 Loss due to remeasurement — 1,627 — 1,627 Finance lease cost - amortization expense 151 241 444 681 Finance lease cost - interest expense 57 167 176 495 Short-term lease cost — 52 — 105 Variable lease cost 422 205 1,215 498 Sublease income (141) (155) (424) (459) Total $ 2,950 $ 5,151 $ 8,167 $ 11,967 Balance sheet classifications at September 30, 2021 and December 31, 2020 are summarized below: September 30, 2021 December 31, 2020 (in thousands) Right of use assets Current right of use liabilities Long-term right of use liabilities Right of use assets Current right of use liabilities Long-term right of use liabilities Operating Leases $ 40,573 $ 7,611 $ 41,333 $ 40,586 $ 8,562 $ 38,296 Finance Leases 3,941 565 4,200 8,034 972 10,173 Total $ 44,514 $ 8,176 $ 45,533 $ 48,620 $ 9,534 $ 48,469 Our future minimum lease payments as of September 30, 2021 under operating lease and finance leases, with initial or remaining lease terms in excess of one year, were as follows: September 30, 2021 (in thousands) Operating Leases Finance Leases Years ending September 30: 2021 $ 2,628 $ 216 2022 9,302 819 2023 8,149 792 2024 6,639 746 2025 5,271 699 Thereafter 30,546 2,465 Total lease payments 62,535 5,737 Less: imputed interest (13,591) (972) Present value of lease liabilities $ 48,944 $ 4,765 Supplemental cash flow information related to our leases for the nine months ending September 30, 2021 and September 30, 2020 were as follows: (in thousands) September 30, 2021 September 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 6,938 $ 9,654 Operating cash outflow from finance leases $ 176 $ 493 Financing cash outflow (inflow) from finance leases $ 484 $ 186 Weighted-average remaining lease terms and discount rate for our leases as of September 30, 2021, were as follows: September 30, 2021 Operating Financing Weighted-average remaining lease term (in years) 9.0 7.6 Weighted-average discount rate 5.53% 4.64%

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	(6) Inventories Components of inventories at September 30, 2021 and December 31, 2020 are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Raw materials $ 23,994 $ 23,762 Work in process 6,124 5,912 Finished goods and parts 59,207 86,993 Inventories $ 89,325 $ 116,667 We record a reserve to the carrying value of our inventory to reflect the rapid technological change in our industry that impacts the market for our products. The inventory reserve was $17,108 and $20,125 as of September 30, 2021 and December 31, 2020, respectively. At September 30, 2021, our obligation to repurchase inventory, included in accrued and other liabilities on our condensed consolidated balance sheets, was $371, relating to the sale of inventory to an assembly manufacturer and we had a commitment of $5,681 with the assembling manufacturer to purchase certain materials and supplies they acquired from third parties. At September 30, 2021, inventory held at assemblers was $3,123.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	(7) Goodwill and Intangible Assets The following table summarizes the activity in goodwill: Nine Months Ended September 30, 2021 Healthcare Industrial Consolidated (in thousands) Gross Goodwill Dispositions, Acquisitions and Impairments Net Goodwill Gross Goodwill Dispositions, Acquisitions and Impairments Net Goodwill Gross Goodwill Dispositions, Acquisitions and Impairments Net Goodwill Balance at beginning of year $ 101,767 $ (32,055) $ 69,712 $ 134,382 $ (42,329) $ 92,053 $ 236,149 $ (74,384) $ 161,765 Additions and adjustments (a) $ — $ (14,961) $ (14,961) $ — $ (1,519) $ (1,519) $ — $ (16,480) $ (16,480) Foreign currency translation adjustments $ (2,319) $ — $ (2,319) $ (3,060) $ — $ (3,060) $ (5,379) $ — $ (5,379) Total goodwill $ 99,448 $ (47,016) $ 52,432 $ 131,322 $ (43,848) $ 87,474 $ 230,770 $ (90,864) $ 139,906 a. The 2021 additions/adjustments for the Healthcare and Industrial segments in the table above relate to the acquisitions of Allevi and Additive of $3,278 as well as the dispositions of ODM and Simbionix of $19,397. The goodwill related to the Cimatron disposition was included in net assets held for sale as of December 31, 2020. Intangible assets, net, other than goodwill, at September 30, 2021 and December 31, 2020 are summarized as follows: September 30, 2021 December 31, 2020 (in thousands) Gross (a) Accumulated Amortization Net Gross (a) Accumulated Amortization Net Weighted Average Useful Life Remaining (in years) Intangible assets with finite lives: Customer relationships $ 59,059 $ (50,063) $ 8,996 $ 71,123 $ (56,682) $ 14,441 3.1 Acquired technology 17,302 (16,199) 1,103 42,472 (41,201) 1,271 6.0 Trade names 13,775 (10,150) 3,625 17,477 (16,506) 971 1.9 Patent costs 21,384 (11,502) 9,882 19,828 (10,999) 8,829 4.8 Trade secrets 19,755 (18,590) 1,165 20,188 (18,216) 1,972 1.8 Acquired patents 16,252 (15,889) 363 16,317 (15,723) 594 7.8 Other 14,626 (9,509) 5,117 19,793 (19,788) 5 6.1 Total intangible assets $ 162,153 $ (131,902) $ 30,251 $ 207,198 $ (179,115) $ 28,083 5.1 a. Change in gross carrying amounts consists primarily of charges for license and patent costs, foreign currency translation, acquisitions and divestitures. Amortization expense related to intangible assets was $2,690 and $7,619 for the quarter and nine months ended September 30, 2021, respectively, compared to $4,260 and $12,806 for the quarter and nine months ended September 30, 2020, respectively.

Accrued and Other Liabilities

Accrued and Other Liabilities	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Accrued and Other Liabilities	(8) Accrued and Other Liabilities Accrued liabilities at September 30, 2021 and December 31, 2020 are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Compensation and benefits $ 34,961 $ 24,629 Vendor accruals 17,465 18,762 Accrued taxes 14,683 14,952 Accrued other 2,710 6,138 Product warranty liability 3,489 2,348 Accrued professional fees 3,174 1,773 Royalties payable 1,670 1,210 Total $ 78,152 $ 69,812 Other liabilities at September 30, 2021 and December 31, 2020 are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Long-term employee indemnity $ 4,893 $ 12,228 Long-term tax liability 6,108 15,532 Defined benefit pension obligation 9,400 10,228 Long-term deferred revenue 16,983 6,163 Other long-term liabilities 1,706 7,096 Total $ 39,090 $ 51,247

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Borrowings	(9) Borrowings Credit Facility We had a 5-year $100,000 senior secured revolving credit facility (the “Senior Credit Facility”) to support working capital and general corporate purposes. The Senior Credit Facility also included a 5-year $100,000 senior secured term loan facility (the “Term Facility”) that was fully repaid and terminated in the first quarter of 2021, as discussed below. Effective August 24, 2021, we terminated the 5-year $100,000 Senior Credit Facility. The Senior Credit Facility contained customary covenants, some of which required us to maintain certain financial ratios that determine the amounts available and terms of borrowings and events of default. We were in compliance with all covenants through the date of termination. Borrowings under the Senior Credit Facility were subject to interest at varying spreads above quoted market rates and a commitment fee was paid on the total unused commitment. We had a balance of $21,392 outstanding on the Term Facility at December 31, 2020. On January 1, 2021, the Company completed the sale of Cimatron. A portion of the proceeds from the sale were used to repay the outstanding balance on the Term Facility. The Term Facility was fully repaid and terminated in the first quarter of 2021. Concurrent with the repayment of the Term Facility, we terminated the interest rate swap, resulting in a marked-to-market payment of $712. See Note 10 for additional information.

Hedging Activities and Financia

Hedging Activities and Financial Instruments	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities and Financial Instruments	(10) Hedging Activities and Financial Instruments Interest Rate Swap Contract On July 8, 2019, we entered into a $50,000 interest rate swap contract, designated as a cash flow hedge, to minimize the risk associated with the variability of cash flows in interest payments from variable-rate debt due to fluctuations in the one-month USD-LIBOR, subject to a 0% floor, through February 26, 2024. Changes in the interest rate swap were expected to offset the changes in cash flows attributable to fluctuations of the one-month USD-LIBOR for the interest payments associated with our variable-rate debt. On January 4, 2021, in connection with the repayment and termination of the Term Facility, we terminated the interest rate swap agreement, which required a marked-to-market termination payment of $712 paid in January 2021. Amounts previously recognized in AOCI of $721 were released and reclassified into Interest and other income (expense), net on the accompanying condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2021. The notional amount and fair value of the derivative on our balance sheet at December 31, 2020 was as follows: (in thousands) Balance Sheet location Notional amount Fair value December 31, 2020 Interest rate swap contract Other liabilities $ 15,000 $ (700) Foreign Currency Contracts We conduct business in various countries using both the functional currencies of those countries and other currencies to effect cross border transactions. As a result, we are 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, we endeavor to match assets and liabilities in the same currency on our balance sheet and those of our subsidiaries in order to reduce these risks. When appropriate, we enter into foreign currency contracts to hedge exposures arising from those transactions. We have elected not to prepare and maintain the documentation to qualify for hedge accounting treatment under 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 sheets. We had $84,665 and $101,781 in notional foreign exchange contracts outstanding as of September 30, 2021 and December 31, 2020, respectively. The fair values of these contracts were not material.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	(11) Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the applicable period. Diluted net income (loss) per share incorporates the additional shares issuable upon assumed exercise of stock options and the vesting of restricted stock and restricted stock units, except in such case when their inclusion would be anti-dilutive. Quarter Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator: Net income (loss) $ 292,656 $ (72,889) $ 328,252 $ (129,764) Denominator: Weighted average shares - basic 122,663 118,527 122,178 116,216 Dilutive securities 2,626 — 2,661 — Weighted average shares - diluted 125,289 118,527 124,839 116,216 Net income (loss) per share - basic $ 2.39 $ (0.61) $ 2.69 $ (1.12) Net income (loss) per share - diluted $ 2.34 $ (0.61) $ 2.63 $ (1.12) For the quarter and nine months ended September 30, 2020, the effect of dilutive securities, including non-vested stock options and restricted stock awards/units, was excluded from the denominator for the calculation of diluted net loss per share because we recognized a net loss for the periods and their inclusion would be anti-dilutive. Dilutive securities excluded for the quarter and nine months ended September 30, 2021, were 2,029 and 2,284, respectively. Dilutive securities excluded for the quarter and nine months ended September 30, 2020, were 4,453 and 4,453, respectively. On August 5, 2020, we entered into an Equity Distribution Agreement for an At-The-Market equity offering program (“ATM Program”) under which we could have issued and sold, from time to time, shares of our common stock. On January 6, 2021, following the closing of the sale of Cimatron and the receipt of the related purchase price proceeds, the Company terminated the ATM Program. No shares of our stock were issued under the ATM Program in 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	(12) Fair Value Measurements Fair value is the exchange price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data, or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. Cash equivalents, Israeli severance funds and derivatives are valued utilizing the market approach to measure fair value for 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 September 30, 2021 (in thousands) Level 1 Level 2 Total Description Cash equivalents (a) $ 305,432 $ — $ 305,432 Israeli severance funds (b) $ — $ 1,982 $ 1,982 Fair Value Measurements as of December 31, 2020 (in thousands) Level 1 Level 2 Total Description Cash equivalents (a) $ 199 $ — $ 199 Israeli severance funds (b) $ — $ 6,422 $ 6,422 Derivative financial instruments (c) $ — $ (700) $ (700) 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 condensed consolidated balance sheet. b. We partially fund a liability for our Israeli severance requirement through monthly deposits into fund accounts, the value of these contributions is recorded to non-current assets on the condensed consolidated balance sheet. c. Derivative instruments are reported based on published market prices for similar assets or are estimated based on published market prices for similar assets or are estimated based on observable inputs such as interest rates, yield curves, credit risks, spot and future commodity prices and spot and future exchange rates. See Note 10 for additional information on our derivative financial instruments. We 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 nine months ended September 30, 2021.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income taxes We maintain the exception under ASC 740-270-30-36(b), “ Accounting for Income Taxes ,” for jurisdictions that do not have reliable estimates of ordinary income due to the volatility in the industry. Based on the continued global financial uncertainty due to the COVID-19 pandemic and volatility in the industry, we have continued to use a year-to-date methodology in determining the effective tax rate for the quarter and nine months ended September 30, 2021. For the quarter and nine months ended September 30, 2021, the Company’s effective tax rate was 2.0% and (0.9)%, respectively. For the quarter and nine months ended September 30, 2020, the Company’s effective tax rate was (4.1)% and (1.9)%, respectively. The difference between the statutory tax rate and the effective tax rate for the quarter and nine months ended September 30, 2021 is primarily driven by the reduction of a liability for uncertain tax positions, which includes the release noted in the paragraph below, the foreign rate differential between the U.S. tax rate and foreign tax rates, valuation allowances in the U.S., and differences in book and tax stock bases related to the divestitures of Cimatron and Simbionix. The difference between the statutory tax rate and the effective tax rate for the quarter and nine months ended September 30, 2020 is primarily driven by the foreign rate differential between the U.S. tax rate and foreign tax rates, impairment of non-deductible goodwill, and the change in U.S. tax law allowing for the carryback of certain U.S. net operating losses (“NOLs”) as explained in the paragraph below. In response to the global pandemic resulting from the COVID-19 pandemic, the U.S. government enacted tax legislation on March 27, 2020 under the Coronavirus Aid Relief, and Economic Security Act (“CARES Act”). This legislation allowed us to carryback NOLs generated in the 2018 and 2019 tax years up to five years. A tax receivable was recorded during the first quarter of 2020 for the anticipated carryback in the amount of $8,900, along with associated uncertain tax positions of $5,700. During the fourth quarter of 2020, additional uncertain tax positions of $3,200 were recorded to fully reserve the $8,900 related to the carryback. During the first quarter of 2021, the Company received two favorable private letter rulings triggering release of the uncertain tax positions for $8,900. As of the close of the quarter ended September 30, 2021, the entire refund has been received by the Company.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(14) Commitments and Contingencies We have an inventory purchase commitment with an assembling manufacturer. See Note 6 for additional information regarding this inventory purchase commitment. Litigation Export Controls and Government Contracts Compliance Matter In October 2017, we received an administrative subpoena from the Bureau of Industry and Security of the Department of Commerce (“BIS”) requesting the production of records in connection with possible violations of U.S. export control laws, including with regard to our Quickparts.com, Inc. subsidiary. In addition, while collecting information responsive to the above-referenced subpoena, our internal investigation identified potential violations of the International Traffic in Arms Regulations administered by the Directorate of Defense Trade Controls of the Department of State (“DDTC”) and potential violations of the Export Administration Regulations administered by the BIS. On June 8, 2018 and thereafter, we submitted voluntary disclosures to BIS and DDTC identifying numerous potentially unauthorized exports of technical data. As part of our ongoing review of trade compliance risks and our cooperation with the government, on November 20, 2019, we submitted to the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) an initial notice of voluntary disclosure regarding potential violations of economic sanctions related to Iran. We continued to investigate this issue and filed a final disclosure with OFAC on May 20, 2020. We have and will continue to implement compliance enhancements to our export controls, trade sanctions, and government contracting compliance program to address the issues identified through our ongoing internal investigation and will cooperate with DDTC and BIS, as well as the U.S. Departments of Justice, Defense, Homeland Security and Treasury in their ongoing reviews of these matters. In connection with these ongoing reviews, in August 2020, the Company received two federal grand jury subpoenas issued by the U.S. District Court for the Northern District of Texas. The Company responded to these two subpoenas and will continue to fully cooperate with the U.S. Department of Justice in the related investigation. In addition, on July 19, 2019, we received a notice of immediate suspension of federal contracting from the United States Air Force, pending the outcome of an ongoing investigation. The suspension applied to 3D Systems, its subsidiaries and affiliates, and was related to the potential export controls violations involving our ODM business described above. Under the suspension, we were generally prohibited from receiving new federal government contracts or subcontracts from any executive branch agency as described in the provisions of 48 C.F.R Subpart 9.4 of the Federal Acquisition Regulation. The suspension allowed us to continue to perform current federal contracts, and also to receive awards of new subcontracts for items under $35 and for items considered commercially available off-the-shelf items. The Air Force lifted the suspension on September 6, 2019 following the execution of a two-year Administrative Agreement with us. We are now eligible to obtain and perform U.S. government contracts and subcontracts without restrictions. Under the Administrative Agreement, we were monitored and evaluated by independent monitors who will report to the Air Force on our compliance with the terms of the Company’s Ethics & Compliance Program, including its overall culture, government contracting compliance program, and export controls compliance program. The Air Force terminated the Administrative Agreement and associated monitorship early on August 12, 2021 after the monitors found that we had satisfied the requirements of the Administrative Agreement. Although we cannot predict the ultimate resolution of these matters, we have incurred and expect to continue to incur significant legal costs and other expenses in connection with responding to the U.S. government agencies. Shareholder Suits The Company and certain of its current and former executive officers have been named as defendants in a consolidated putative stockholder class action lawsuit pending in the United States District Court for the Eastern District of New York. The action is styled In re 3D Systems Securities Litigation, No. 1:21-cv-01920-NGG-TAM (E.D.N.Y.) (the “Securities Class Action”). On July 14, 2021, the Court appointed a Lead Plaintiff for the putative class and approved his choice of Lead Counsel. Lead Plaintiff filed his Consolidated Amended Complaint (the “Amended Complaint”) on September 13, 2021, alleging that defendants violated the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and SEC Rule 10b-5 promulgated thereunder by making false and misleading statements and omissions, and that the current and former executive officers named as defendants are control persons under Section 20(a) of the Exchange Act. The Amended Complaint was filed on behalf of stockholders who purchased shares of the Company’s common stock between May 6, 2020 and March 5, 2021, and seeks monetary damages on behalf of the purported class. The deadline for defendants to move, answer, or otherwise respond to the Amended Complaint is currently November 12, 2021. The Company has been named as a nominal defendant and certain of its current and former executive officers have been named as defendants in derivative lawsuits pending in the United States District Court for the Eastern District of New York and the South Carolina Court of Common Pleas for the 16th Circuit, York County. The actions are styled Nguyen v. Joshi, et al., No. 21-cv-03389-DG-CLP (E.D.N.Y.) (the “New York Derivative Action”), Lesar v. Graves, et al., No. 2021CP4602308 (S.C., Ct. of Common Pleas for the 16th Judicial Cir., Cty. of York) (the “Lesar Action”), and Scanlon v. Graves, et al., No. 2021CP4602312 (S.C., Ct. of Common Pleas for the 16th Judicial Cir., Cty. of York) (together with the Lesar Action, the “South Carolina Derivative Actions”). The Complaint in the New York Derivative Action, which was filed on June 15, 2021, asserts breach of fiduciary duty claims against all defendants and claims for contribution under the federal securities laws against certain of the defendants. The Complaints in the South Carolina Derivative Actions, which were filed on July 26, 2021, assert breach of fiduciary duty and unjust enrichment claims against defendants. On August 27, 2021, the New York Derivative Action was stayed until 30 days after the earlier of: (i) the close of discovery in the Securities Class Action, or (ii) the deadline for appealing a dismissal of the Securities Class Action with prejudice. The Company believes the claims alleged in the putative securities class action and derivative lawsuits are without merit and the Company intends to defend itself and its current and former officers vigorously. Other We are involved in various other legal matters incidental to our business. Although we cannot predict the results of the litigation with certainty, we believe that the disposition of all these various other legal matters will not have a material adverse effect, individually or in the aggregate, on our consolidated results of operations, consolidated cash flows or consolidated financial position.

Restructuring and Exit Activity

Restructuring and Exit Activity Costs	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Exit Activity Costs	(15) Restructuring and Exit Activity Costs On August 5, 2020, we announced, in connection with the new strategic focus, a restructuring plan intended to align our operating costs with current revenue levels and to better position the Company for future sustainable and profitable growth. The restructuring plan included a reduction of nearly 20% of our workforce, with the majority of the workforce reduction completed by December 31, 2020. We completed the restructuring efforts in the second quarter of 2021. Cost reduction efforts included reducing the number of facilities and examining every aspect of our manufacturing and operating costs. We incurred cash charges for severance, facility closing and other costs, primarily in the second half of 2020, and continued to incur additional charges through the second quarter of 2021, when we finalized all the actions to be taken. Non-cash charges related to these actions were $6,400 and are included in facility closing costs. We also divested parts of the business that did not align with this strategic focus. See Note 2. In connection with the restructuring plan, we recorded pre-tax costs during the nine months ended September 30, 2021, included within Selling, general and administrative in the condensed consolidated income statement, and incurred total costs as follows: (in thousands) Costs Incurred during 2020 Costs Incurred during the nine months ended September 30, 2021 Total Costs Incurred Severance, termination benefits and other employee costs $ 12,914 $ 660 $ 13,574 Facility closing costs 6,470 640 7,110 Other costs 668 (179) 489 Total $ 20,052 $ 1,121 $ 21,173 The liabilities at September 30, 2021 related to these costs were principally recorded in accrued expenses in the condensed consolidated balance sheets and were as follows: (in thousands) Liability at December 31, 2020 Costs Incurred during 2021 Costs Paid During 2021 Non-cash adjustments Liability at September 30, 2021 Severance, termination benefits and other employee costs $ 7,173 $ 660 $ (7,833) $ — $ — Facility closing costs — 640 (640) — — Other costs — (179) 179 — Total $ 7,173 $ 1,121 $ (8,473) $ 179 $ —

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	(16) Subsequent Events We have evaluated subsequent events through the date these financial statements were issued and determined that the following subsequent events are required to be disclosed: On October 27, 2021, we entered into an Agreement and Plan of Merger with Volumetric Biotechnologies, Inc. (“Volumetric”), pursuant to which the Company agreed to acquire Volumetric for a purchase price of $45,000 subject to customary closing adjustments, with up to an additional $355,000 linked to the attainment of milestone achievements through December 31, 2035. Purchase price payments, including payments upon attainment of milestone achievements, will be paid approximately half in cash and the remaining half in shares of the Company’s common stock. Completion of the transaction is expected to occur during the fourth quarter of 2021. The purchase price is expected to impact our financial position via the reduction of cash and an increase in common shares outstanding and intangible assets, including goodwill. Volumetric will be part of the Healthcare segment. The acquisition’s impact on the Company's results of operations and cash flows are expected to be dilutive. Volumetric’s mission is to develop the ability to manufacture human organs using bioprinting methods and the underlying technologies required to create these highly complex biological structures. With this acquisition, 3D Systems will expand our capabilities and capacity in 3D printing related to bio-printing and regenerative medicine. Combining 3D Systems regenerative medicine group with Volumetric’s highly complementary skill sets of biological expertise and cellular engineering is expected to accelerate our core regenerative medicine strategies which include the bio-printing of human organs, additional non-organ applications and bio-printing technologies for research labs. On November 1, 2021 the Company completed the acquisition of Oqton, Inc. See Note 2.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements include the accounts of 3D Systems Corporation and all majority-owned subsidiaries and entities in which a controlling interest is maintained (“3D Systems” or the “Company” or “we” or “us”). All significant intercompany transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“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 our Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Form 10-K”). Our annual reporting period is the calendar year. 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 and nine months ended September 30, 2021 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. As we continue to closely monitor the COVID-19 pandemic, our top priority remains the health and safety of our employees and their families and communities. Our Crisis Response Steering Committee regularly reviews and adapts our protocols based on evolving research and guidance related to the virus. While essential operations continue, we continue to restrict travel and meetings, publish pertinent information, and adapt to a world where many in our workforce are remote and those coming on-site are following new safety measures. The company has selectively reopened its offices in certain of our locations and, where local conditions and regulation allow, our employees have begun to return to working on-site. We continue to watch conditions and regulations and remain committed to protecting our employees, delivering for our customers and supporting our communities. We are subject to the mandatory vaccination and workplace safety protocols of the United States Federal Government Executive Order on Ensuring Adequate COVID Safety Protocols for Federal Contractors, and the COVID-19 Workplace Safety Guidance for Federal Contractors and Subcontractors issued by the Safer Federal Workforce Task Force. Accordingly, we have adopted a policy to comply with the mandate that all U.S. employees be vaccinated within the mandated timeframe. Our operations in North America and South America (collectively referred to as “Americas”), Europe and the Middle East (collectively referred to as “EMEA”) and the Asia Pacific region (“APAC”) expose us to risks associated with public health crises and epidemics/pandemics, such as the COVID-19 pandemic. While the COVID-19 pandemic continued to impact our reported results for the quarter ended September 30, 2021, we are unable to predict the longer-term impact that the pandemic may have on our business, results of operations, financial position or cash flows. The extent to which our operations may be impacted by the dynamic nature of the COVID-19 pandemic will depend largely on future developments, which are highly uncertain and cannot be accurately predicted, including the severity or resurgence of the outbreak and actions by government authorities to contain the outbreak or treat its impact. Furthermore, the impacts of uncertain global economic conditions, further supply chain disruptions, including the shortages of critical components, and the continued disruptions to, and volatility in, the financial markets remain unknown. As of January 1, 2021, we determined the Company has two reportable segments, Healthcare and Industrial. The Company previously only reported its consolidated results in one segment. This change in segment reporting as of January 1, 2021 was the result of changes to how the chief operating decision maker (“CODM”) assesses the financial performance of the Company and in the decision-making process driving future operating performance. As a result of this re-segmentation, the Company performed a quantitative analysis for potential impairment of our goodwill immediately following the re-segmentation. Based on available information and analysis as of January 1, 2021, we determined the fair value of the Healthcare and Industrial reporting units exceeded their carrying values. Fair value was determined using a combination of an income approach, which estimates fair value based upon projections of future revenues, expenses, and cash flows discounted to its present value, and a market approach. The valuation methodology and underlying financial information included in the Company's determination of fair value required significant judgments by management. The principal assumptions used in the Company's discounted cash flow analysis consisted of (a) the long-term projections of future financial performance and (b) the weighted-average cost of capital of market participants, adjusted for the risk attributable to the Company and the industry in which it operates. Under the market approach, the principal assumption included an estimate for a control premium. All dollar amounts presented in the accompanying footnotes are presented in thousands, except for per share information.
Recently Adopted Accounting Standards and Accounting Standards Issued But Not Yet Adopted	In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, “ Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes ,” which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in Accounting Standards Codification 740, Income Taxes. It also clarifies certain aspects of the existing guidance to promote more consistent application. This standard is effective for calendar-year public business entities in 2021 and interim periods within that year, and early adoption is permitted. The Company adopted this guidance during the first quarter of 2021. The implementation did not have a material effect on our financial position or results of operations. No other new accounting pronouncements, issued or effective during 2021, have had or are expected to have a significant impact on our consolidated financial statements.
Revenue	We account for revenue in accordance with ASC Topic 606, “ Revenue from Contracts with Customers .” Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. At September 30, 2021, we had $151,515 of outstanding performance obligations, comprised of deferred revenue, customer order backlog and customer deposits. We expect to recognize approximately 68% of deferred revenue as revenue within the next twelve months, an additional 5% by the end of 2022 and the remaining balance thereafter. Revenue Recognition Revenue is recognized when control of the promised products or services is transferred to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Many of our contracts with customers include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative stand-alone selling price (“SSP”). Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities. The amount of consideration received and revenue recognized may vary based on changes in marketing incentive programs offered to our customers. Our marketing incentive programs take many forms, including volume discounts, trade-in allowances, rebates and other discounts. A majority of our revenue is recognized at the point in time when products are shipped or services are delivered to customers. Please see below for further discussion. Hardware and Materials Revenue from hardware and material sales is recognized when control has transferred to the customer, which typically occurs when the goods have been shipped to the customer, risk of loss has transferred to the customer and we have a present right to payment. In limited circumstances, when printer or other hardware sales include substantive customer acceptance provisions, revenue is recognized either when customer acceptance has been obtained, customer acceptance provisions have lapsed, or we have objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. Printers and certain other products include a warranty under which we provide maintenance for periods up to one year. For these initial product warranties, estimated costs are accrued at the time of the sale of the product. These cost estimates are established using historical information on the nature, frequency and average cost of claims for each type of printer or other product as well as assumptions about future activity and events. Revisions to expense accruals are made as necessary based on changes in these historical and future factors. Software We also market and sell software tools that enable our customers to capture and customize content using our printers, design optimization and simulation software, and reverse engineering and inspection software. Software does not require significant modification or customization and the license provides the customer with a right to use the software as it exists when made available. Revenue from these software licenses is recognized either upon delivery of the product or upon delivery of a key code which allows the customer to download the software. Customers may purchase post-sale support. Generally, the first year of post-sale support is included as part of the initial software sale but subsequent years are optional. This optional support is considered a separate obligation from the software and is deferred at the time of sale and subsequently recognized ratably over future periods. Collaboration and Licensing Agreements We enter into collaboration and licensing agreements with third parties. The nature of the activities to be performed and the consideration exchanged under the agreements varies on a contract-by-contract basis. We evaluate these agreements to determine whether they meet the definition of a customer relationship for which revenue is recorded. These contracts may contain multiple performance obligations and may contain fees for licensing, research and development services, contingent milestone payments upon the achievement of developmental contractual criteria and/or royalty fees based on the licensees’ product revenue. We determine the revenue to be recognized for these agreements based on an evaluation of the distinct performance obligations, the identification and evaluation of material rights, the estimation of variable consideration and the determination of the pattern on transfer of control for each distinct performance obligation. The Company recognized $1,475 and $1,029 related to collaboration arrangements with customers for the quarters ended September 30, 2021 and 2020, respectively. The Company recognized $5,322 and $2,676 related to collaboration arrangements with customers for the nine months ended September 30, 2021 and 2020, respectively. Services We offer training, installation and non-contract maintenance services for our products. Additionally, we offer maintenance contracts customers can purchase at their option. For maintenance contracts, revenue is deferred at the time of sale based on the stand-alone selling prices of these services and costs are expensed as incurred. Deferred revenue is recognized ratably over the term of the maintenance period on a straight-line basis. Revenue from training, installation and non-contract maintenance services is recognized at the time of performance of the service. ODM and healthcare service sales are included within services revenue and revenue is recognized upon shipment or delivery of the parts or performance of the service, based on the terms of the arrangement. We sold ODM in the third quarter of 2021. See Note 2. Terms of Sale Shipping and handling activities are treated as fulfillment costs rather than as an additional promised service. We accrue the costs of shipping and handling when the related revenue is recognized. Our incurred costs associated with shipping and handling are included in product cost of sales. Credit is extended, and creditworthiness is determined, based on an evaluation of each customer’s financial condition. New customers are generally required to complete a credit application and provide references and bank information to facilitate an analysis of creditworthiness. Customers with a favorable profile may receive credit terms that differ from our general credit terms. Creditworthiness is considered, among other things, in evaluating our relationship with customers with past due balances. Our terms of sale generally provide payment terms that are customary in the countries where we transact business. To reduce credit risk in connection with certain sales, we may, depending upon the circumstances, require significant deposits, letters of credit or payment in full prior to shipment. For maintenance services, we either bill customers on a time-and-materials basis or sell maintenance contracts that provide for payment in advance on either an annual or other periodic basis. Significant Judgments Our contracts with customers often include promises to transfer multiple products and services to a customer. For such arrangements, we allocate revenues to each performance obligation based on its relative SSP. Judgment is required to determine the SSP for each distinct performance obligation in a contract. For the majority of items, we estimate SSP using historical transaction data. We use a range of amounts to estimate SSP when we sell each of the products and services separately and need to determine whether there is a discount to be allocated based on the relative SSP of the various products and services. In instances where SSP is not directly observable, such as when the product or service is not sold separately, we determine the SSP using information that may include market conditions and other observable inputs. In some circumstances, we have more than one SSP for individual products and services due to the stratification of those products and services by customers, geographic region or other factors. In these instances, we may use information such as the size of the customer and geographic region in determining the SSP. The determination of SSP is a regular process and information is reviewed regularly in order to ensure SSP reflects the most current information or trends. The nature of our marketing incentives may lead to consideration that is variable. Judgment is exercised at contract inception to determine the most likely outcome of the contract and resulting transaction price. Ongoing assessments are performed to determine if updates are needed to the original estimates. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer deposits and deferred revenues (contract liabilities) on the condensed consolidated balance sheets. Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized at the time of invoicing, or unbilled receivables when revenue is recognized prior to invoicing. For most of our contracts, customers are invoiced when products are shipped or when services are performed resulting in billed accounts receivables for the remainder of the owed contract price. Unbilled receivables generally result from items being shipped or services being performed where the customer has not been charged, but for which revenue had been recognized. We typically bill in advance for installation, training and maintenance contracts as well as extended warranties, resulting in deferred revenue. Changes in contract asset and liability balances were not materially impacted by any other factors for the nine months ended September 30, 2021. For the nine months ended September 30, 2021, we recognized revenue of $30,457 related to our contract liabilities at December 31, 2020 . For the nine months ended September 30, 2020 , we recognized revenue of $27,041 related to our contract liabilities at December 31, 2019. Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within selling, general and administrative expenses.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Effect of Previously Reported Statements of Operations	The following schedule depicts the effect on our previously reported statements of operations. Quarter Ended September 30, 2020 Nine Months Ended September 30, 2020 (in thousands) As reported (a) Change Revised As reported (a) Change Revised Cost of sales: Products $ 50,038 $ (1,825) $ 48,213 $ 153,069 $ (5,119) $ 147,950 Services 27,511 1,825 29,336 80,593 5,119 85,712 Total cost of sales $ 77,549 $ — $ 77,549 $ 233,662 $ — $ 233,662 (a) As reported represents amounts derived from Note 25 to the consolidated financial statements as of and for the year ended December 31, 2020 and as disclosed in Note 1 to the consolidated financial statements as of and for the quarter ended March 31, 2021.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Net Sales and Operating Results by Segment	The following tables set forth our net sales and operating results by segment: Quarter Ended September 30, 2021 2020 2021 (in thousands) Net Sales (a) Operating Profit Operations by segment: Healthcare $ 76,365 $ 59,498 $ 9,054 Industrial 79,731 76,678 13,198 Total $ 156,096 $ 136,176 22,252 General corporate expense, net (b) (39,460) Operating loss, as reported (17,208) Interest and other expense, net 315,859 Income before income taxes $ 298,651 Nine Months Ended September 30, 2021 2020 2021 (in thousands) Net Sales (a) Operating Profit Operations by segment: Healthcare $ 231,712 $ 160,926 $ 51,100 Industrial 233,057 223,662 35,678 Total $ 464,769 $ 384,588 86,778 General corporate expense, net (b) (116,005) Operating loss, as reported (29,227) Interest and other income, net 354,396 Income before income taxes $ 325,169 a. Approximately 45.9% and 50.5% of sales for the quarters ended September 30, 2021 and 2020, respectively, and 44.5% and 51.7% of sales for the nine months ended September 30, 2021 and 2020, respectively, were located outside of the U.S. b. General corporate expense, net includes expenses not specifically attributable to our segments for functions such as corporate human resources, finance, and legal, including salaries, benefits, and other related costs.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Components of Lease Cost	Components of lease cost (income) were as follows: Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Operating lease cost $ 2,461 $ 3,014 $ 6,756 $ 9,020 Loss due to remeasurement — 1,627 — 1,627 Finance lease cost - amortization expense 151 241 444 681 Finance lease cost - interest expense 57 167 176 495 Short-term lease cost — 52 — 105 Variable lease cost 422 205 1,215 498 Sublease income (141) (155) (424) (459) Total $ 2,950 $ 5,151 $ 8,167 $ 11,967 Supplemental cash flow information related to our leases for the nine months ending September 30, 2021 and September 30, 2020 were as follows: (in thousands) September 30, 2021 September 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 6,938 $ 9,654 Operating cash outflow from finance leases $ 176 $ 493 Financing cash outflow (inflow) from finance leases $ 484 $ 186 Weighted-average remaining lease terms and discount rate for our leases as of September 30, 2021, were as follows: September 30, 2021 Operating Financing Weighted-average remaining lease term (in years) 9.0 7.6 Weighted-average discount rate 5.53% 4.64%
Balance Sheet Classifications	Balance sheet classifications at September 30, 2021 and December 31, 2020 are summarized below: September 30, 2021 December 31, 2020 (in thousands) Right of use assets Current right of use liabilities Long-term right of use liabilities Right of use assets Current right of use liabilities Long-term right of use liabilities Operating Leases $ 40,573 $ 7,611 $ 41,333 $ 40,586 $ 8,562 $ 38,296 Finance Leases 3,941 565 4,200 8,034 972 10,173 Total $ 44,514 $ 8,176 $ 45,533 $ 48,620 $ 9,534 $ 48,469
Future Minimum Lease Payments - Finance Leases	Our future minimum lease payments as of September 30, 2021 under operating lease and finance leases, with initial or remaining lease terms in excess of one year, were as follows: September 30, 2021 (in thousands) Operating Leases Finance Leases Years ending September 30: 2021 $ 2,628 $ 216 2022 9,302 819 2023 8,149 792 2024 6,639 746 2025 5,271 699 Thereafter 30,546 2,465 Total lease payments 62,535 5,737 Less: imputed interest (13,591) (972) Present value of lease liabilities $ 48,944 $ 4,765
Future Minimum Lease Payments - Operating Leases	Our future minimum lease payments as of September 30, 2021 under operating lease and finance leases, with initial or remaining lease terms in excess of one year, were as follows: September 30, 2021 (in thousands) Operating Leases Finance Leases Years ending September 30: 2021 $ 2,628 $ 216 2022 9,302 819 2023 8,149 792 2024 6,639 746 2025 5,271 699 Thereafter 30,546 2,465 Total lease payments 62,535 5,737 Less: imputed interest (13,591) (972) Present value of lease liabilities $ 48,944 $ 4,765

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Components of Inventories	Components of inventories at September 30, 2021 and December 31, 2020 are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Raw materials $ 23,994 $ 23,762 Work in process 6,124 5,912 Finished goods and parts 59,207 86,993 Inventories $ 89,325 $ 116,667

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the activity in goodwill: Nine Months Ended September 30, 2021 Healthcare Industrial Consolidated (in thousands) Gross Goodwill Dispositions, Acquisitions and Impairments Net Goodwill Gross Goodwill Dispositions, Acquisitions and Impairments Net Goodwill Gross Goodwill Dispositions, Acquisitions and Impairments Net Goodwill Balance at beginning of year $ 101,767 $ (32,055) $ 69,712 $ 134,382 $ (42,329) $ 92,053 $ 236,149 $ (74,384) $ 161,765 Additions and adjustments (a) $ — $ (14,961) $ (14,961) $ — $ (1,519) $ (1,519) $ — $ (16,480) $ (16,480) Foreign currency translation adjustments $ (2,319) $ — $ (2,319) $ (3,060) $ — $ (3,060) $ (5,379) $ — $ (5,379) Total goodwill $ 99,448 $ (47,016) $ 52,432 $ 131,322 $ (43,848) $ 87,474 $ 230,770 $ (90,864) $ 139,906 a. The 2021 additions/adjustments for the Healthcare and Industrial segments in the table above relate to the acquisitions of Allevi and Additive of $3,278 as well as the dispositions of ODM and Simbionix of $19,397. The goodwill related to the Cimatron disposition was included in net assets held for sale as of December 31, 2020.
Schedule of Finite-Lived Intangible Assets	Intangible assets, net, other than goodwill, at September 30, 2021 and December 31, 2020 are summarized as follows: September 30, 2021 December 31, 2020 (in thousands) Gross (a) Accumulated Amortization Net Gross (a) Accumulated Amortization Net Weighted Average Useful Life Remaining (in years) Intangible assets with finite lives: Customer relationships $ 59,059 $ (50,063) $ 8,996 $ 71,123 $ (56,682) $ 14,441 3.1 Acquired technology 17,302 (16,199) 1,103 42,472 (41,201) 1,271 6.0 Trade names 13,775 (10,150) 3,625 17,477 (16,506) 971 1.9 Patent costs 21,384 (11,502) 9,882 19,828 (10,999) 8,829 4.8 Trade secrets 19,755 (18,590) 1,165 20,188 (18,216) 1,972 1.8 Acquired patents 16,252 (15,889) 363 16,317 (15,723) 594 7.8 Other 14,626 (9,509) 5,117 19,793 (19,788) 5 6.1 Total intangible assets $ 162,153 $ (131,902) $ 30,251 $ 207,198 $ (179,115) $ 28,083 5.1 a. Change in gross carrying amounts consists primarily of charges for license and patent costs, foreign currency translation, acquisitions and divestitures.

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities at September 30, 2021 and December 31, 2020 are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Compensation and benefits $ 34,961 $ 24,629 Vendor accruals 17,465 18,762 Accrued taxes 14,683 14,952 Accrued other 2,710 6,138 Product warranty liability 3,489 2,348 Accrued professional fees 3,174 1,773 Royalties payable 1,670 1,210 Total $ 78,152 $ 69,812
Schedule of Other Liabilities	Other liabilities at September 30, 2021 and December 31, 2020 are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Long-term employee indemnity $ 4,893 $ 12,228 Long-term tax liability 6,108 15,532 Defined benefit pension obligation 9,400 10,228 Long-term deferred revenue 16,983 6,163 Other long-term liabilities 1,706 7,096 Total $ 39,090 $ 51,247

Hedging Activities and Financ_2

Hedging Activities and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional and Fair Value Amount on Balance Sheet	The notional amount and fair value of the derivative on our balance sheet at December 31, 2020 was as follows: (in thousands) Balance Sheet location Notional amount Fair value December 31, 2020 Interest rate swap contract Other liabilities $ 15,000 $ (700)

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Share Reconciliation	Quarter Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator: Net income (loss) $ 292,656 $ (72,889) $ 328,252 $ (129,764) Denominator: Weighted average shares - basic 122,663 118,527 122,178 116,216 Dilutive securities 2,626 — 2,661 — Weighted average shares - diluted 125,289 118,527 124,839 116,216 Net income (loss) per share - basic $ 2.39 $ (0.61) $ 2.69 $ (1.12) Net income (loss) per share - diluted $ 2.34 $ (0.61) $ 2.63 $ (1.12)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements as of September 30, 2021 (in thousands) Level 1 Level 2 Total Description Cash equivalents (a) $ 305,432 $ — $ 305,432 Israeli severance funds (b) $ — $ 1,982 $ 1,982 Fair Value Measurements as of December 31, 2020 (in thousands) Level 1 Level 2 Total Description Cash equivalents (a) $ 199 $ — $ 199 Israeli severance funds (b) $ — $ 6,422 $ 6,422 Derivative financial instruments (c) $ — $ (700) $ (700) 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 condensed consolidated balance sheet. b. We partially fund a liability for our Israeli severance requirement through monthly deposits into fund accounts, the value of these contributions is recorded to non-current assets on the condensed consolidated balance sheet. c. Derivative instruments are reported based on published market prices for similar assets or are estimated based on published market prices for similar assets or are estimated based on observable inputs such as interest rates, yield curves, credit risks, spot and future commodity prices and spot and future exchange rates. See Note 10 for additional information on our derivative financial instruments.

Restructuring and Exit Activi_2

Restructuring and Exit Activity Costs (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	In connection with the restructuring plan, we recorded pre-tax costs during the nine months ended September 30, 2021, included within Selling, general and administrative in the condensed consolidated income statement, and incurred total costs as follows: (in thousands) Costs Incurred during 2020 Costs Incurred during the nine months ended September 30, 2021 Total Costs Incurred Severance, termination benefits and other employee costs $ 12,914 $ 660 $ 13,574 Facility closing costs 6,470 640 7,110 Other costs 668 (179) 489 Total $ 20,052 $ 1,121 $ 21,173
Schedule of Restructuring Reserve by Type of Cost	The liabilities at September 30, 2021 related to these costs were principally recorded in accrued expenses in the condensed consolidated balance sheets and were as follows: (in thousands) Liability at December 31, 2020 Costs Incurred during 2021 Costs Paid During 2021 Non-cash adjustments Liability at September 30, 2021 Severance, termination benefits and other employee costs $ 7,173 $ 660 $ (7,833) $ — $ — Facility closing costs — 640 (640) — — Other costs — (179) 179 — Total $ 7,173 $ 1,121 $ (8,473) $ 179 $ —

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Dec. 31, 2020segment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment			2		1
Cost of sales:
Total cost of sales	$ 91,781	$ 77,549	$ 267,209	$ 233,662
As reported
Cost of sales:
Total cost of sales		77,549		233,662
Change
Cost of sales:
Total cost of sales		0		0
Products
Cost of sales:
Total cost of sales	64,252	48,213	180,251	147,950
Products | As reported
Cost of sales:
Total cost of sales		50,038		153,069
Products | Change
Cost of sales:
Total cost of sales		(1,825)		(5,119)
Services
Cost of sales:
Total cost of sales	$ 27,529	29,336	$ 86,958	85,712
Services | As reported
Cost of sales:
Total cost of sales		27,511		80,593
Services | Change
Cost of sales:
Total cost of sales		$ 1,825		$ 5,119

Dispositions and Acquisitions (

Dispositions and Acquisitions (Details) - USD ($) $ in Thousands

Sep. 20, 2021

Aug. 24, 2021

Jan. 01, 2021

Jan. 07, 2020

Jan. 21, 2019

Jul. 19, 2017

Nov. 01, 2021

Jun. 30, 2021

Jun. 30, 2020

Sep. 30, 2021

Sep. 30, 2020

Dec. 31, 2018

Apr. 02, 2015

Nov. 25, 2014

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of assets and businesses, net of cash

$ 427,664

$ 552

Redemption price

$ 10,000

Payment period

4 years

Oqton, Inc. | Subsequent Event

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Value of voting rights acquired

$ 180,000

Payment in cash

$ 106,000

Robtec

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquired ownership percentage

30.00%

70.00%

Easyway

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Value of voting rights acquired

$ 13,500

$ 2,300

Acquired ownership percentage

30.00%

5.00%

70.00%

65.00%

Installment payments

$ 4,000

$ 2,500

Robtec

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Noncontrolling interest, ownership percentage

100.00%

Disposal Group, Disposed of by Sale, Not Discontinued Operations | GIBBSCam Cimatron

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Ownership interest prior to disposal

100.00%

Cash transferred to the purchaser

$ 9,476

Proceeds from sale of assets and businesses, net of cash

$ 64,173

Gain on disposition

32,047

Gain for accumulated foreign currency translation gain

$ 6,481

Disposal Group, Disposed of by Sale, Not Discontinued Operations | On Demand Manufacturing

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of assets and businesses, net of cash

$ 82,000

Gain on disposition

$ 39,273

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Simbionix

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Ownership interest prior to disposal

100.00%

Cash transferred to the purchaser

$ 6,794

Proceeds from sale of assets and businesses, net of cash

305,000

Gain on disposition

271,786

Gain for accumulated foreign currency translation gain

$ 2,431

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Outstanding performance obligation	$ 151,515		$ 151,515
Warranty period			1 year
Total revenue	156,096	$ 136,176	$ 464,769	$ 384,588
Amounts included in contract liability at the beginning of period			30,457	27,041
Collaborative Arrangement
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total revenue	$ 1,475	$ 1,029	$ 5,322	$ 2,676
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as a percentage)	68.00%		68.00%
Performance obligations expected to be satisfied, expected timing	12 months		12 months
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as a percentage)	5.00%		5.00%
Performance obligations expected to be satisfied, expected timing	3 months		3 months

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Dec. 31, 2020segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2		1
Net Sales	$ 156,096	$ 136,176	$ 464,769	$ 384,588
Operating Profit	(17,208)	(67,604)	(29,227)	(119,694)
Interest and other income, net	315,859	(2,419)	354,396	(7,598)
Income (loss) before income taxes	$ 298,651	$ (70,023)	$ 325,169	$ (127,292)
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | Non-US
Segment Reporting Information [Line Items]
Concentration risk percentage	45.90%	50.50%	44.50%	51.70%
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	$ 156,096	$ 136,176	$ 464,769	$ 384,588
Operating Profit	22,252		86,778
General corporate expense, net
Segment Reporting Information [Line Items]
Operating Profit	(39,460)		(116,005)
Healthcare | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	76,365	59,498	231,712	160,926
Operating Profit	9,054		51,100
Industrial | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	79,731	$ 76,678	233,057	$ 223,662
Operating Profit	$ 13,198		$ 35,678

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Feb. 25, 2021USD ($)ft²
Lessee, Lease, Description [Line Items]
Lease renewal term	1 year
Land sold | $		$ 400
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Rentable area		80,000
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	16 years
Rentable area		100,000

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease cost	$ 2,461	$ 3,014	$ 6,756	$ 9,020
Loss due to remeasurement	0	1,627	0	1,627
Finance lease cost - amortization expense	151	241	444	681
Finance lease cost - interest expense	57	167	176	495
Short-term lease cost	0	52	0	105
Variable lease cost	422	205	1,215	498
Sublease income	(141)	(155)	(424)	(459)
Total	$ 2,950	$ 5,151	$ 8,167	$ 11,967

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classifications (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Right of use assets
Operating Leases	$ 40,573	$ 40,586
Finance Leases	3,941	8,034
Total	44,514	48,620
Current right of use liabilities
Operating Leases	7,611	8,562
Finance Leases	565	972
Total	8,176	9,534
Long-term right of use liabilities
Operating Leases	41,333	38,296
Finance Leases	4,200	10,173
Total	$ 45,533	$ 48,469
Operating lease, right-of-use asset, statement of financial position, extensible list	Total	Total
Finance lease, right-of-use asset, statement of financial position, extensible list	Total	Total
Operating lease, liability, current, statement of financial position, extensible list	Total	Total
Finance lease, liability, current, statement of financial position, extensible list	Total	Total
Operating lease, liability, noncurrent, statement of financial position, extensible list	Total	Total
Finance lease, liability, noncurrent, statement of financial position, extensible list	Total	Total

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2021USD ($)
Operating Leases
2021	$ 2,628
2022	9,302
2023	8,149
2024	6,639
2025	5,271
Thereafter	30,546
Total lease payments	62,535
Less: imputed interest	(13,591)
Present value of lease liabilities	48,944
Finance Leases
2021	216
2022	819
2023	792
2024	746
2025	699
Thereafter	2,465
Total lease payments	5,737
Less: imputed interest	(972)
Present value of lease liabilities	$ 4,765

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$ 6,938	$ 9,654
Operating cash outflow from finance leases	176	493
Financing cash outflow (inflow) from finance leases	$ 484	$ 186

Leases - Lease Weighted Average

Leases - Lease Weighted Average (Details)	Sep. 30, 2021
Operating
Weighted-average remaining lease term (in years)	9 years
Weighted-average discount rate	5.53%
Financing
Weighted-average remaining lease term (in years)	7 years 7 months 6 days
Weighted-average discount rate	4.64%

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 23,994	$ 23,762
Work in process	6,124	5,912
Finished goods and parts	59,207	86,993
Inventories	$ 89,325	$ 116,667

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory [Line Items]
Inventory reserve	$ 17,108	$ 20,125
Supply and Offtake Agreements
Inventory [Line Items]
Obligation to purchase inventory	371
Purchase commitment	5,681
Inventory held at assemblers	$ 3,123

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance at beginning of year, Gross	$ 236,149
Balance at beginning of year, Dispositions, Acquisitions and Impairments	(74,384)
Balance at beginning of year, Net	161,765
Additions and adjustments	(16,480)
Foreign currency translation adjustments	(5,379)
Total goodwill, Gross	230,770
Total goodwill, Dispositions, Acquisitions and Impairments	(90,864)
Total goodwill, Net	139,906
ODM and Simbionix
Goodwill [Roll Forward]
Additions and adjustments	19,397
Allevi and Additive
Goodwill [Roll Forward]
Additions and adjustments	3,278
Healthcare
Goodwill [Roll Forward]
Balance at beginning of year, Gross	101,767
Balance at beginning of year, Dispositions, Acquisitions and Impairments	(32,055)
Balance at beginning of year, Net	69,712
Additions and adjustments	(14,961)
Foreign currency translation adjustments	(2,319)
Total goodwill, Gross	99,448
Total goodwill, Dispositions, Acquisitions and Impairments	(47,016)
Total goodwill, Net	52,432
Industrial
Goodwill [Roll Forward]
Balance at beginning of year, Gross	134,382
Balance at beginning of year, Dispositions, Acquisitions and Impairments	(42,329)
Balance at beginning of year, Net	92,053
Additions and adjustments	(1,519)
Foreign currency translation adjustments	(3,060)
Total goodwill, Gross	131,322
Total goodwill, Dispositions, Acquisitions and Impairments	(43,848)
Total goodwill, Net	$ 87,474

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross	$ 162,153		$ 162,153		$ 207,198
Accumulated Amortization	(131,902)		(131,902)		(179,115)
Net	30,251		$ 30,251		28,083
Weighted Average Useful Life Remaining (in years)			5 years 1 month 6 days
Amortization expense	2,690	$ 4,260	$ 7,619	$ 12,806
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	59,059		59,059		71,123
Accumulated Amortization	(50,063)		(50,063)		(56,682)
Net	8,996		$ 8,996		14,441
Weighted Average Useful Life Remaining (in years)			3 years 1 month 6 days
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross	17,302		$ 17,302		42,472
Accumulated Amortization	(16,199)		(16,199)		(41,201)
Net	1,103		$ 1,103		1,271
Weighted Average Useful Life Remaining (in years)			6 years
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross	13,775		$ 13,775		17,477
Accumulated Amortization	(10,150)		(10,150)		(16,506)
Net	3,625		$ 3,625		971
Weighted Average Useful Life Remaining (in years)			1 year 10 months 24 days
Patent costs
Finite-Lived Intangible Assets [Line Items]
Gross	21,384		$ 21,384		19,828
Accumulated Amortization	(11,502)		(11,502)		(10,999)
Net	9,882		$ 9,882		8,829
Weighted Average Useful Life Remaining (in years)			4 years 9 months 18 days
Trade secrets
Finite-Lived Intangible Assets [Line Items]
Gross	19,755		$ 19,755		20,188
Accumulated Amortization	(18,590)		(18,590)		(18,216)
Net	1,165		$ 1,165		1,972
Weighted Average Useful Life Remaining (in years)			1 year 9 months 18 days
Acquired patents
Finite-Lived Intangible Assets [Line Items]
Gross	16,252		$ 16,252		16,317
Accumulated Amortization	(15,889)		(15,889)		(15,723)
Net	363		$ 363		594
Weighted Average Useful Life Remaining (in years)			7 years 9 months 18 days
Other
Finite-Lived Intangible Assets [Line Items]
Gross	14,626		$ 14,626		19,793
Accumulated Amortization	(9,509)		(9,509)		(19,788)
Net	$ 5,117		$ 5,117		$ 5
Weighted Average Useful Life Remaining (in years)			6 years 1 month 6 days

Accrued and Other Liabilities -

Accrued and Other Liabilities - Schedule Of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Compensation and benefits	$ 34,961	$ 24,629
Vendor accruals	17,465	18,762
Accrued taxes	14,683	14,952
Accrued other	2,710	6,138
Product warranty liability	3,489	2,348
Accrued professional fees	3,174	1,773
Royalties payable	1,670	1,210
Total	$ 78,152	$ 69,812

Accrued and Other Liabilities_2

Accrued and Other Liabilities - Schedule Of Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Long-term employee indemnity	$ 4,893	$ 12,228
Long-term tax liability	6,108	15,532
Defined benefit pension obligation	9,400	10,228
Long-term deferred revenue	16,983	6,163
Other long-term liabilities	1,706	7,096
Total	$ 39,090	$ 51,247

Borrowings (Details)

Borrowings (Details) - USD ($)	Feb. 27, 2019	Jan. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Senior Credit Facility
Line of Credit Facility [Line Items]
Credit agreement term	5 years
Credit agreement, maximum borrowing capacity	$ 100,000,000
Term Loan Facility
Line of Credit Facility [Line Items]
Credit agreement term	5 years
Credit agreement, maximum borrowing capacity	$ 100,000,000
Outstanding borrowings				$ 21,392,000
Termination of derivative instrument		$ 712,000	$ 712,000

Hedging Activities And Financ_3

Hedging Activities And Financial Instruments (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 31, 2021	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020	Jul. 08, 2019
Derivative [Line Items]
Derivative financial instruments				$ (700,000)
Term Loan Facility
Derivative [Line Items]
Termination of derivative instrument	$ 712,000		$ 712,000
Not Designated as Hedging Instrument
Derivative [Line Items]
Foreign currency contracts		$ 84,665,000	84,665,000	101,781,000
Level 2
Derivative [Line Items]
Derivative financial instruments				(700,000)
Level 2 | Designated as Hedging Instrument
Derivative [Line Items]
Derivative financial instruments				(700,000)
Interest rate swap contract
Derivative [Line Items]
Amounts reclassified from AOCL to interest and other expense, net		$ 721,000	$ 721,000
Interest rate swap contract | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount				$ 15,000,000	$ 50,000,000
Floor interest rate (as a percentage)					0.00%

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income (loss)	$ 292,656	$ (72,889)	$ 328,252	$ (129,764)
Denominator:
Weighted average shares - basic (in shares)	122,663,000	118,527,000	122,178,000	116,216,000
Dilutive securities (in shares)	2,626,000	0	2,661,000	0
Weighted average shares - diluted (in shares)	125,289,000	118,527,000	124,839,000	116,216,000
Net income (loss) per share - basic (in dollars per share)	$ 2.39	$ (0.61)	$ 2.69	$ (1.12)
Net income (loss) per share - diluted (in dollars per share)	$ 2.34	$ (0.61)	$ 2.63	$ (1.12)
Dilutive securities excluded (in shares)	2,029,000	4,453,000	2,284,000	4,453,000
ATM
Denominator:
Number of shares sold (in shares)			0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 305,432	$ 199
Israeli severance funds	1,982	6,422
Derivative financial instruments		(700)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	305,432	199
Israeli severance funds	0	0
Derivative financial instruments		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Israeli severance funds	$ 1,982	6,422
Derivative financial instruments		$ (700)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Contingency [Line Items]
Effective income tax expense (benefit), rate	2.00%			(4.10%)		(0.90%)	(1.90%)
CARES Act
Income Tax Contingency [Line Items]
Income taxes receivable			$ 8,900		$ 8,900
Tax contingency, amount					$ 5,700
Unrecognized tax benefits, period increase (decrease)			$ (3,200)
Two Private Letter IRS Rulings | CARES Act
Income Tax Contingency [Line Items]
Uncertain tax positions release		$ 8,900

Commitments and Contingencies (

Commitments and Contingencies (Details)	Sep. 06, 2019	Aug. 31, 2020subpoena	Jul. 19, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of subpoenas | subpoena		2
Maximum of awards allowed to be received | $			$ 35,000
Agreement term (in years)	2 years

Restructuring and Exit Activi_3

Restructuring and Exit Activity Costs - Narrative (Details) - Facility closing costs - 2020 Restructuring Plan - USD ($) $ in Thousands	Aug. 05, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Reduction of workforce, percentage		20.00%
Expected noncash charges	$ 6,400

Restructuring and Exit Activi_4

Restructuring and Exit Activity Costs - Restructuring Cost (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended	21 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Costs Incurred	$ 1,121	$ 20,052	$ 21,173
Severance, termination benefits and other employee costs
Restructuring Cost and Reserve [Line Items]
Costs Incurred	660	12,914	13,574
Facility closing costs
Restructuring Cost and Reserve [Line Items]
Costs Incurred	640	6,470	7,110
Other costs
Restructuring Cost and Reserve [Line Items]
Costs Incurred	$ (179)	$ 668	$ 489

Restructuring and Exit Activi_5

Restructuring and Exit Activity Costs - Restructuring Reserve Activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Restructuring Reserve [Roll Forward]
Liability at December 31, 2020	$ 7,173
Costs Incurred during 2021	1,121
Costs Paid During 2021	(8,473)
Non-cash adjustments	179
Liability at September 30, 2021	0
Severance, termination benefits and other employee costs
Restructuring Reserve [Roll Forward]
Liability at December 31, 2020	7,173
Costs Incurred during 2021	660
Costs Paid During 2021	(7,833)
Non-cash adjustments	0
Liability at September 30, 2021	0
Facility closing costs
Restructuring Reserve [Roll Forward]
Liability at December 31, 2020	0
Costs Incurred during 2021	640
Costs Paid During 2021	(640)
Non-cash adjustments	0
Liability at September 30, 2021	0
Other costs
Restructuring Reserve [Roll Forward]
Liability at December 31, 2020	0
Costs Incurred during 2021	(179)
Costs Paid During 2021
Non-cash adjustments	179
Liability at September 30, 2021	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Volumetric Biotechnologies, Inc. $ in Thousands	Oct. 27, 2021USD ($)
Subsequent Event [Line Items]
Purchase price	$ 45,000
Milestone achievements	$ 355,000