Advanced Energy Industries (AEIS) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 04, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Entity File Number	000-26966
Entity Registrant Name	ADVANCED ENERGY INDUSTRIES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-0846841
Entity Address, Address Line One	1595 Wynkoop Street, Suite 800
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	970
Local Phone Number	407-6626
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	AEIS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,265,618
Entity Central Index Key	0000927003
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 352,540	$ 346,441
Marketable securities	2,490	2,614
Accounts and other receivable, net of expected credit losses of $7,241 and $7,745, respectively	214,360	246,564
Inventories	235,299	230,019
Income taxes receivable	1,245	4,245
Other current assets	55,291	36,855
Total current assets	861,225	866,738
Property and equipment, net	105,592	108,109
Operating lease right-of-use assets	110,034	105,404
Deposits and other assets	21,813	22,556
Goodwill	202,149	202,932
Intangible assets, net	178,479	184,011
Deferred income tax assets	43,258	42,656
TOTAL ASSETS	1,522,550	1,532,406
Current liabilities:
Accounts payable	167,442	170,671
Income taxes payable	6,574	9,687
Accrued payroll and employee benefits	39,217	51,545
Other accrued expenses	43,863	41,691
Customer deposits and other	10,894	10,926
Current portion of long-term debt	17,500	17,500
Current portion of operating lease liabilities	18,284	18,312
Total current liabilities	303,774	320,332
Long-term debt	317,285	321,527
Operating lease liabilities	95,205	90,538
Pension benefits	66,538	68,169
Deferred income tax liabilities	10,213	9,952
Uncertain tax positions	16,275	16,055
Long-term deferred revenue	7,696	8,011
Other long-term liabilities	19,606	20,562
Total liabilities	836,592	855,146
Stockholders' equity:
Common stock, $0.001 par value, 70,000 shares authorized; 38,252 and 38,358 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	38	38
Additional paid-in capital	98,478	104,849
Accumulated other comprehensive loss	(8,804)	(5,897)
Retained earnings	595,685	577,724
Advanced Energy stockholders' equity	685,397	676,714
Noncontrolling interest	561	546
Total stockholders' equity	685,958	677,260
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,522,550	$ 1,532,406

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Consolidated Balance Sheets
Accounts receivable, allowances	$ 7,241	$ 7,745
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000	1,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	70,000,000	70,000,000
Common stock, shares issued (in shares)	38,252,000	38,358,000
Common stock, shares outstanding (in shares)	38,252,000	38,358,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Sales, net:
Total sales, net	$ 315,456	$ 140,743
Cost of sales:
Total cost of sales	203,225	75,003
Gross profit	112,231	65,740
Operating expenses:
Research and development	34,770	21,289
Selling, general and administrative	45,991	29,014
Amortization of intangible assets	5,006	1,973
Restructuring expense	656	1,673
Total operating expenses	86,423	53,949
Operating income	25,808	11,791
Other income (expense), net	(3,510)	743
Income from continuing operations, before income taxes	22,298	12,534
Provision (benefit) for income taxes	3,900	(2,853)
Income from continuing operations	18,398	15,387
Loss from discontinued operations, net of income taxes	(320)	(9)
Net income	18,078	15,378
Income from continuing operations attributable to noncontrolling interest	15	8
Net income attributable to Advanced Energy Industries, Inc.	$ 18,063	$ 15,370
Basic weighted-average common shares outstanding	38,358	38,198
Diluted weighted-average common shares outstanding	38,570	38,426
Earnings per share:
Continuing operations: Basic earnings per share	$ 0.48	$ 0.40
Continuing operations: Diluted earnings per share	0.48	0.40
Discontinued operations: Basic earnings per share	(0.01)
Discontinued operations: Diluted earnings per share	(0.01)
Net income:
Basic earnings per share	0.47	0.40
Diluted earnings per share	$ 0.47	$ 0.40
Product [Member]
Sales, net:
Total sales, net	$ 289,361	$ 112,112
Cost of sales:
Total cost of sales	191,066	60,801
Service [Member]
Sales, net:
Total sales, net	26,095	28,631
Cost of sales:
Total cost of sales	$ 12,159	$ 14,202

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated Statements of Comprehensive Income
Net income	$ 18,078	$ 15,378
Other comprehensive income (loss), net of income taxes
Foreign currency translation	(3,061)	(1,975)
Minimum benefit retirement liability	154	(53)
Comprehensive income	15,171	13,350
Comprehensive income attributable to noncontrolling interest	15	8
Comprehensive income attributable to Advanced Energy Industries, Inc.	$ 15,156	$ 13,342

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Foreign Currency Translation	Minimum Benefit Retirement Liability	Retained Earnings	Non-controlling Interest	Total
Beginning Balance at Dec. 31, 2018	$ 38	$ 97,418	$ (590)	$ (2,859)	$ 512,783	$ 512	$ 607,302
Beginning Balance (in shares) at Dec. 31, 2018	38,164,000
Stock issued from equity plans		(1,707)					(1,707)
Stock issued from equity plans (in shares)	72,000
Stock-based compensation		3,199					3,199
Foreign currency translation			(1,975)				(1,975)
Minimum benefit retirement liability				(53)			(53)
Net income					15,370	8	15,378
Comprehensive income			(1,975)	(53)	15,370	8	13,350
Ending Balance at Mar. 31, 2019	$ 38	98,910	(2,565)	(2,912)	528,153	520	622,144
Ending Balance (in shares) at Mar. 31, 2019	38,236,000
Adoption of new accounting standards					(102)		(102)
Beginning Balance at Dec. 31, 2019	$ 38	104,849	(3,113)	(2,784)	577,724	546	$ 677,260
Beginning Balance (in shares) at Dec. 31, 2019	38,358,000						38,358,000
Stock issued from equity plans		(2,171)					$ (2,171)
Stock issued from equity plans (in shares)	64,000
Stock-based compensation		3,048					3,048
Stock buyback		(7,248)					(7,248)
Stock buyback (in shares)	(170,000)
Foreign currency translation			(3,061)				(3,061)
Minimum benefit retirement liability				154			154
Net income					18,063	15	18,078
Comprehensive income							15,171
Ending Balance at Mar. 31, 2020	$ 38	$ 98,478	$ (6,174)	$ (2,630)	$ 595,685	$ 561	$ 685,958
Ending Balance (in shares) at Mar. 31, 2020	38,252,000						38,252,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 18,078	$ 15,378
Income (loss) from discontinued operations, net of income taxes	(320)	(9)
Income (loss) from continuing operations, net of income taxes	18,398	15,387
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	11,616	4,181
Stock-based compensation expense	3,048	3,199
Provision for deferred income taxes	(1,265)	(649)
Discount on notes receivable	721
Net loss on disposal of assets	173	6
Changes in operating assets and liabilities, net of assets acquired:
Accounts and other receivable, net	32,084	(2,416)
Inventories	(6,726)	(1,243)
Other assets	(14,688)	(4,295)
Accounts payable	(5,351)	4,546
Other liabilities and accrued expenses	(9,989)	(7,165)
Income taxes	919	(4,696)
Net cash provided by (used in) operating activities from continuing operations	28,940	6,855
Net cash provided by (used in) operating activities from discontinued operations	(418)	(1,409)
Net cash provided by operating activities	28,522	5,446
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of property and equipment	10
Issuance of notes receivable	(1,000)
Purchases of property and equipment	(6,134)	(2,436)
Net cash provided by (used in) investing activities from continuing operations	(7,124)	(2,436)
Net cash provided by (used in) investing activities	(7,124)	(2,436)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term borrowings	(4,375)
Purchase and retirement of common stock	(7,248)
Net payments related to stock-based award activities	(2,171)	(1,707)
Net cash provided by (used in) financing activities from continuing operations	(13,794)	(1,707)
Net cash provided by (used in) financing activities	(13,794)	(1,707)
EFFECT OF CURRENCY TRANSLATION ON CASH	(1,505)	(566)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	6,099	737
CASH AND CASH EQUIVALENTS, beginning of period	346,441	354,552
CASH AND CASH EQUIVALENTS, end of period	352,540	355,289
Less cash and cash equivalents from discontinued operations		4,140
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period	352,540	351,149
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	2,240	56
Cash paid for income taxes	4,545	2,371
Cash received for refunds of income taxes	$ 121	$ 61

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1. BASIS OF PRESENTATION ​ Advanced Energy Industries, Inc., a Delaware corporation, and its wholly-owned subsidiaries ("we," "us," "our," "Advanced Energy," or the "Company") design, manufacture, sell and support precision power products that transform, refine, and modify the raw electrical power from the utility and convert it into various types of highly-controllable usable power that is predictable, repeatable and customizable. Our power solutions enable innovation in complex semiconductor and thin film plasma processes such as dry etch, strip, chemical and physical deposition, high and low voltage applications such as process control, analytical instrumentation and medical equipment, and in temperature-critical thermal applications such as material and chemical processing. We also supply related instrumentation products for advanced temperature measurement and control, electrostatic instrumentation products for test and measurement applications, and gas sensing and monitoring solutions for a number of industrial markets. Our network of service support centers provide local repair and field service capability in key regions, provide upgrades and refurbishment services and sell used equipment to businesses that use our products. In September 2019, we acquired the Artesyn Embedded Power business, which added new power products and technologies used in networking and computing, data center, and industrial and medical applications. As of December 31, 2015, we discontinued our engineering, production, and sales of our Inverter product line. As such, all Inverter product revenues, costs, assets, and liabilities are reported in Discontinued Operations for all periods presented herein, and we currently report as a single unit. See Note 4. Disposed and Discontinued Operations In the opinion of management, the accompanying Unaudited Consolidated Financial Statements contain all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the financial position of the Company as of March 31, 2020, and the results of our operations and cash flows for the three months ended March 31, 2020 and 2019. The Unaudited Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") have been or omitted pursuant to such rules and regulations. These Unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other financial information filed with the SEC. Use of Estimates in the Preparation of the Consolidated Financial Statements The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We believe that the significant estimates, assumptions, and judgments when accounting for items and matters such as allowances for doubtful accounts, excess and obsolete inventory, warranty reserves, right-of-use assets and related liabilities, acquisitions, asset valuations, asset life, depreciation, amortization, recoverability of assets, impairments, deferred revenue, stock option and restricted stock grants, taxes, and other provisions are reasonable, based upon information available at the time they are made. Actual results may differ from these estimates, making it possible that a change in these estimates could occur in the near term. Critical Accounting Policies Our accounting policies are described in our audited Consolidated Financial Statements and Notes contained in our Annual Report on Form 10-K for the year ended December 31, 2019. New Accounting Standards From time to time, the Financial Accounting Standards Board ("FASB") or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification ("ASC") are communicated through issuance of an Accounting Standards Update ("ASU"). Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on the Consolidated Financial Statements upon adoption. Recently issued accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820)" ("ASU 2018-13"). ASU 2018-13 modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. ASU 2018-13 is effective for fiscal years ending after December 15, 2019 and shall be applied to all periods presented on a retrospective basis. Early adoption is permitted. We are currently assessing and do not believe ASU 2018-13 will have a significant impact on our fair value measurements disclosure requirements. In August 2018, the FASB issued ASU 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20)" ("ASU 2018-14"). ASU 2018-14 eliminates requirements for certain disclosures and requires additional disclosures under defined benefit pension plans and other post-retirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020 and shall be applied to all periods presented on a retrospective basis. Early adoption is permitted. We are currently assessing and do not believe ASU 2018-14 will have a significant impact on our defined benefit plan disclosure requirements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued. ASU 2020-04 will be in effect through December 31, 2022. We are currently assessing the potential impact of ASU 2020-04 on our Consolidated Financial Statements. Recently adopted accounting pronouncements In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326)", Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. We adopted ASU 2016-13 in the first quarter of fiscal year 2020 through a cumulative-effect adjustment to beginning retained earnings using the modified retrospective approach. The impact of the adoption of ASU 2016-13 was not material to our Consolidated Financial Statements. The Company’s principal customers are original equipment manufacturers and end user customers, which operate globally through wholly owned subsidiaries that purchase the Company’s products under substantially the same credit terms, with similar historical credit risks. As a result, the Company assesses credit risks for its customers as a single group. The Company evaluates collection risk and establishes its expected credit loss primarily through a combination of the following: an assessment of customer credit risk ratings utilizing third party credit risk data, analysis of historical aging and credit loss experience, and customer specific information. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which is meant to simplify and reduce the cost of accounting for income taxes. The FASB has stated that the ASU 2019-12 is being issued in connection with its Simplification Initiative, which is meant to reduce complexity in accounting standards by improving certain areas of generally accepted accounting principles without compromising information provided to users of financial statements. We early adopted ASU 2019-12 in the first quarter of 2020. The impact of the adoption of ASU 2019-12 was not material to our Consolidated Financial Statements.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
BUSINESS ACQUISITIONS
BUSINESS ACQUISITIONS	NOTE 2. BUSINESS ACQUISITIONS Artesyn’s Embedded Power Business In September 2019, we completed the acquisition of Artesyn Embedded Technologies, Inc.’s (“Artesyn”) Embedded Power business pursuant to the Stock Purchase Agreement, dated May 14, 2019 as amended (the “Acquisition Agreement”). Pursuant to the Acquisition Agreement, we acquired all of Artesyn’s issued and outstanding shares for a purchase price of $361.3 million including the assumption of certain liabilities and subject to an adjustment for net working capital. In connection with the Acquisition Agreement, we entered into a credit agreement that provided us with aggregate financing of $500.0 million which was used to partially fund the Artesyn acquisition. Note 22. Credit Facility for additional details related to the credit agreement. Artesyn’s Embedded Power business is one of the world’s largest providers of highly engineered, application-specific power supplies for demanding applications. This acquisition diversified our product portfolio and gave us access to additional growth markets, including hyperscale data centers, telecom infrastructure in next generation 5G networks, embedded industrial power applications and medical power for diagnostic and treatment applications. The components of the fair value of the total consideration transferred for the acquisition is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for acquisition ​ $ 389,326 Non-cash consideration ​ 2,000 Contingent consideration and working capital adjustments ​ ​ (6,848) Total fair value of consideration transferred ​ ​ 384,478 Less cash acquired ​ (23,225) Total purchase price ​ $ 361,253 ​ The following table summarizes the estimated preliminary fair values of the assets acquired and liabilities assumed from the acquisition, along with the measurement period adjustments that occurred during the quarter: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary: September 10, 2019 ​ Measurement Period Adjustments ​ Preliminary: September 10, 2019 Accounts and other receivable, net ​ $ 128,221 ​ $ 4,245 ​ $ 132,466 Inventories ​ 139,778 ​ ​ 16,629 ​ ​ 156,407 Property and equipment ​ 63,032 ​ ​ 289 ​ ​ 63,321 Operating lease right-of-use assets ​ ​ 60,073 ​ ​ (5,634) ​ ​ 54,439 Goodwill ​ 113,040 ​ ​ (421) ​ ​ 112,619 Intangible assets ​ 124,000 ​ ​ - ​ ​ 124,000 Other assets ​ 64,018 ​ ​ (155) ​ ​ 63,863 Total assets acquired ​ 692,162 ​ ​ 14,953 ​ ​ 707,115 Accounts payable ​ 144,702 ​ ​ 7,933 ​ ​ 152,635 Operating lease liability ​ ​ 60,111 ​ ​ (5,634) ​ ​ 54,477 Pension liability ​ ​ 48,686 ​ ​ (371) ​ ​ 48,315 Deferred income tax liabilities ​ 5,846 ​ ​ 24 ​ ​ 5,870 Other liabilities ​ 71,564 ​ ​ 13,001 ​ ​ 84,565 Total liabilities assumed ​ 330,909 ​ ​ 14,953 ​ ​ 345,862 Total fair value of net assets acquired ​ $ 361,253 ​ $ - ​ $ 361,253 ​ A summary of the intangible assets acquired, amortization method and estimated useful lives are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization ​ ​ ​ ​ Artesyn ​ Method ​ Useful Life ​ Technology ​ $ 28,000 Straight-line 5 ​ Customer relationships ​ 75,000 Straight-line 15 ​ Tradename ​ 21,000 Straight-line 10 ​ Total ​ $ 124,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill and intangible assets are recorded in the functional currency of the entity and are subject to changes due to translation at each balance sheet date. The goodwill represents expected operating synergies from combining operations with the acquired company and the estimated value associated with the enhancements to our comprehensive product lines and access to new markets. Advanced Energy is still evaluating the fair value for the assets acquired and liabilities assumed related to the Artesyn acquisition. Accordingly, the purchase price allocation presented above is preliminary. ​ Pro forma results for Advanced Energy Inc. giving effect to the Artesyn Embedded Power Business Transactions The following unaudited pro forma financial information presents the combined results of operations of Advanced Energy and Artesyn as if the acquisition had been completed at the beginning of fiscal year 2019. The unaudited pro forma financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of the year prior to the acquisition dates, nor are they indicative of future results. ​ The unaudited pro forma financial information for the three months ended March 31, 2019 combines Advanced Energy’s results with the pre-acquisition results of Artesyn for that period. The following table presents our unaudited pro forma results for the acquisition of Artesyn for the three months ended March 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2019 ​ As Reported Pro Forma Total sales $ 140,743 $ 295,975 Net income attributable to Advanced Energy Industries, Inc. $ 15,370 $ 21,544 Earnings per share: ​ ​ ​ ​ Basic earnings per share ​ $ 0.40 ​ $ 0.56 Diluted earnings per share ​ $ 0.40 ​ $ 0.56 ​ The unaudited pro forma results for all periods presented include adjustments made to account for certain costs and transactions that would have been incurred had the acquisitions been completed at the beginning of the year prior to the year of acquisition. These include adjustments to amortization charges for acquired intangible assets, interest and financing expenses, transaction costs, amortization of purchased gross profit and the alignment of various accounting policies. These adjustments are net of any applicable tax impact and were included to arrive at the pro forma results above. Artesyn’s operating results have been included in the Advanced Energy’s operating results for the periods subsequent to the completion of the acquisition on September 10, 2019. Artesyn contributed total sales of $153.9 million and net loss of $1.0 million for the three months ended March 31, 2020.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2020
REVENUE
REVENUE	NOTE 3. REVENUE Revenue Recognition We recognize revenue when we have satisfied our performance obligations which typically occurs when control of the products or services has been transferred to our customers. The transaction price is based upon the standalone selling price. In most transactions, we have no obligations to our customers after the date products are shipped, other than pursuant to warranty obligations. Shipping and handling fees billed to customers, if any, are recognized as revenue. The related shipping and handling costs are recognized in cost of sales. Support services include warranty and non-warranty repair services, upgrades, and refurbishments on the products we sell. Repairs that are covered under our standard warranty do not generate revenue. Practical Expedients We expense incremental costs of obtaining contracts when the amortization period of the costs is less than 1 year. These costs are included in selling, general, and administrative expenses. Nature of goods and services Products Advanced Energy provides highly engineered, mission-critical, precision power conversion, measurement, and control solutions to our global customers. We design, manufacture, sell and support precision power products that transform electrical power into various usable forms. Our power conversion products refine, modify, and control the raw electrical power from a utility and convert it into power that is predictable, repeatable and customizable. Our products enable thin film manufacturing processes such as plasma enhanced chemical and physical deposition and etch for various semiconductor and industrial products, industrial thermal applications for material and chemical processes, and specialty power for critical industrial technology applications. We also supply thermal instrumentation products for advanced temperature measurement and control in these markets. As a result of the Artesyn acquisition, we now sell precision power conversion products into the telecom and networking, data center, and additional medical and industrial markets. Our products are designed to enable new process technologies, improve productivity, and lower the cost of ownership for our customers. We also provide repair and maintenance services for all our products. We principally serve original equipment manufacturers ("OEM") and end customers in the semiconductor, flat panel display, high voltage, solar panel, telecom and networking, data center, medical, and other industrial capital equipment markets. Our advanced power products are used in diverse markets, applications, and processes including the manufacture of capital equipment for semiconductor device manufacturing, thin film applications for thin film renewables and architectural glass, and for other thin film applications including flat panel displays, and industrial coatings. Our embedded power products are used in a wide range of applications, including 5G, datacenter including hyperscale and other industrial and medical applications. Services Our services group offers warranty and after-market repair services in the regions in which we operate, providing us with preventive maintenance opportunities. Our customers continue to pursue low cost of ownership of their capital equipment and are increasingly sensitive to the costs of system downtime. They expect that suppliers offer comprehensive local repair service and customer support. To meet these market requirements, we maintain a worldwide support organization comprising both direct and indirect activities, through partnership with local distributors, primarily in the United States ("U.S."), the People’s Republic of China ("PRC"), Japan, South Korea, Taiwan, Malaysia, Israel, Philippines, Germany, Singapore and United Kingdom. As part of our ongoing service business, we satisfy our service obligations under preventative maintenance contracts and extended warranties which had previously been offered on our discontinued inverter products. Any up-front fees received for extended warranties or maintenance plans are deferred. Revenue under these arrangements is recognized ratably over the underlying terms as we do not have historical information which would allow us to project the estimated service usage pattern at this time. In May 2019, we sold our grid-tied central inverter repair and service operation to a third party. In connection with this sale, approximately $22.0 million of deferred revenue related to extended warranties and service contracts were transferred to the buyer. See Note 4. Disposed and Discontinued Operations Disaggregation of Revenue The following table presents our sales by product line, inclusive of both products and services, which includes certain reclassification to prior comparative periods to conform to our current year presentation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Semiconductor Equipment ​ $ 133,625 ​ $ 91,437 ​ Industrial & Medical ​ 61,979 ​ 49,306 ​ Data Center Computing ​ ​ 86,183 ​ ​ — ​ Telecom & Networking ​ ​ 33,669 ​ ​ — ​ Total ​ $ 315,456 ​ $ 140,743 ​ ​ The following table presents our sales by geographic region: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 ​ 2019 North America ​ $ 164,331 $ 58,506 Asia ​ 110,975 ​ 58,435 Europe ​ 39,136 ​ 23,426 Other ​ 1,014 ​ 376 Total ​ $ 315,456 $ 140,743 ​ The following table presents our net sales by extended warranty and service contracts recognized over time and our product and service revenue recognized at a point in time: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Product and service revenue recognized at point in time ​ $ 315,281 ​ $ 139,840 ​ Extended warranty and service contracts recognized over time ​ 175 ​ 903 ​ Total ​ $ 315,456 ​ $ 140,743 ​ ​

DISPOSED AND DISCONTINUED OPERA

DISPOSED AND DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2020
DISPOSED AND DISCONTINUED OPERATIONS
DISPOSED AND DISCONTINUED OPERATIONS	NOTE 4. DISPOSED AND DISCONTINUED OPERATIONS Disposed Operations In May 2019, we sold our grid-tied central solar inverter services business to Bold Renewables Holdings, LLC (“Buyer”) for $1.00 dollar and assumption of our initial product warranty and our extended warranty service obligations. In connection with this transaction, we entered into a Loan and Security Agreement with the Buyer. Under this agreement, we initially loaned $2.8 million to the Buyer at closing and loaned and additional $1.5 million in the fourth quarter of 2019 and an additional $1.0 million in the first quarter of 2020. We have made available an additional $2.75 million that may be borrowed in the future, subject to certain operating and liquidity covenants, for operating needs over the next ten years. The borrowings under the Loan and Security Agreement bear interest at 0% for the first seven years and 5% thereafter. Additionally, the Loan and Security Agreement provides for early payment discounts of 50% during the first three years, 45% for years four and five and 40% thereafter up to 30 days prior to the maturity of the Loan and Security Agreement. A discount on the initial $2.8 million funding under the Loan and Security Agreement of $2.3 million has been recognized as a reduction to the gain recognized on the sale. As a result of the transaction, we reduced our liabilities held in discontinued operations approximately $10.9 million related to initial product warranty and reduced Other liabilities of our continuing operations of approximately $22.0 million related to extended warranty service obligations as well as other assets and liabilities associated with the continuing grid-tied central solar inverter service and repair business. A $14.8 million non-cash gain was recognized in Other income (expense) from continuing operations and an $8.6 million non-cash gain, net of tax expense of $2.4 million, was recognized in Income from discontinued operations. Discontinued Operations In December 2015, we completed the wind down of engineering, manufacturing, and sales of our solar inverter product line (the "inverter business"). Accordingly, the results of our inverter business have been reflected as "Income (loss) from discontinued operations, net of income taxes" on our Consolidated Statements of Operations for all periods presented herein. The effect of our sales of extended inverter warranties to our customers continues to be reflected in deferred revenue in our Consolidated Balance Sheets. Deferred revenue for extended inverter warranties and the associated costs of warranty service will be reflected in Sales and Cost of goods sold, respectively, from continuing operations in future periods in our Consolidated Statement of Operations, as the deferred revenue, is earned and the associated services are rendered. Extended warranties related to the inverter product line are no longer offered. The significant items included in "Income (loss) from discontinued operations, net of income taxes" are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Sales ​ $ — ​ $ — ​ Cost of sales ​ — ​ — ​ Total operating expense ​ 139 ​ — ​ Operating income (loss) from discontinued operations ​ (139) ​ — ​ Other income (expense) ​ (210) ​ (4) ​ Income (loss) from discontinued operations before income taxes ​ (349) ​ (4) ​ Provision (benefit) for income taxes ​ (29) ​ 5 ​ Income (loss) from discontinued operations, net of income taxes ​ $ (320) ​ $ (9) ​ ​ Assets and Liabilities of discontinued operations within the Consolidated Balance Sheets are comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Cash and cash equivalents ​ $ — ​ $ — Accounts and other receivables, net ​ ​ — ​ ​ — Inventories ​ ​ 23 ​ ​ 30 Other current assets ​ ​ 23 ​ ​ 30 Other assets ​ ​ — ​ ​ — Deferred income tax assets ​ 269 ​ 269 Deposits and other assets ​ ​ 269 ​ ​ 269 Accounts payable and other accrued expenses ​ ​ 122 ​ ​ — Accrued warranty ​ 967 ​ 914 Other accrued expenses ​ ​ 1,089 ​ ​ 914 Accrued warranty ​ ​ 462 ​ ​ 698 Other liabilities ​ 191 ​ 189 Other long-term liabilities ​ $ 653 ​ $ 887 ​

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
INCOME TAXES
INCOME TAXES	NOTE 5. INCOME TAXES The following table sets out the tax expense and the effective tax rate for our income from continuing operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Income from continuing operations, before income taxes ​ $ 22,298 ​ $ 12,534 ​ Provision for income taxes ​ ​ 3,900 ​ ​ (2,853) ​ Effective tax rate ​ ​ 17.5 % ​ (22.8) % ​ Our effective tax rates differ from the U.S. federal statutory rate of 21% for the three months ended March 31, 2020 and 2019, respectively, primarily due to the benefit of earnings in foreign jurisdictions which are subject to lower tax rates, partially offset by additional GILTI tax in the U.S. The effective tax rate for the first three months of 2020 was higher than the same period in 2019 primarily due to the release of liabilities for uncertain tax positions in the first quarter of 2019.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 6. EARNINGS PER SHARE Basic earnings per share ("EPS") is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of our diluted EPS is similar to the computation of our basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the if-converted and treasury stock methods), if our outstanding stock options and restricted stock units had been converted to common shares, and if such assumed conversion is dilutive. The following is a reconciliation of the weighted-average shares outstanding used in the calculation of basic and diluted EPS for the three months ended March 31, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Income from continuing operations ​ $ 18,398 ​ $ 15,387 ​ Income from continuing operations attributable to noncontrolling interest ​ 15 ​ 8 ​ Income from continuing operations attributable to Advanced Energy Industries, Inc. ​ $ 18,383 ​ $ 15,379 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted-average common shares outstanding ​ 38,358 ​ 38,198 ​ Assumed exercise of dilutive stock options and restricted stock units ​ 212 ​ 228 ​ Diluted weighted-average common shares outstanding ​ 38,570 ​ 38,426 ​ Continuing operations: ​ ​ ​ Basic earnings per share ​ $ 0.48 ​ $ 0.40 ​ Diluted earnings per share ​ $ 0.48 ​ $ 0.40 ​ ​ The following restricted stock units were excluded in the computation of diluted earnings per share because they were anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Restricted stock units — 119 ​ Stock Buyback In September 2015, our Board of Directors authorized a program to repurchase up to $150.0 million of our stock over a thirty-month period. In November 2017, our Board of Directors approved an extension of the share repurchase program to December 2019 from its original maturity of March 2018. In May 2018, our Board of Directors approved a $50 million increase in its authorization to repurchase shares of Company common stock under this same program. On December 18, 2019, our Board of Directors authorized the removal of the expiration date to the Company’s share repurchase program and increased the authorized amount by $25.1 million. During the first quarter of 2020, the Company repurchased $7.2 million worth of outstanding shares. As of March 31, 2020, the Company had $42.8 million authorized for the future repurchase of shares of our common stock. In order to execute the repurchase of shares of our common stock, the Company periodically enters into stock repurchase agreements. During the three months ended March 31, 2020 and 2019, the Company has repurchased the following shares of common stock: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (in thousands, except per share amounts) 2020 2019 ​ Amount paid to repurchase shares ​ $ 7,248 ​ $ — ​ Number of shares repurchased ​ 170 ​ — ​ Average repurchase price per share ​ $ 42.59 ​ $ — ​ ​ There were no shares repurchased from related parties. All shares repurchased were recognized as a reduction to Additional paid-in capital. Repurchased shares were retired and assumed the status of authorized and unissued shares.

MARKETABLE SECURITIES AND ASSET

MARKETABLE SECURITIES AND ASSETS MEASURED AT FAIR VALUE	3 Months Ended
	Mar. 31, 2020
MARKETABLE SECURITIES AND ASSETS MEASURED AT FAIR VALUE
MARKETABLE SECURITIES AND ASSETS MEASURED AT FAIR VALUE	NOTE 7. MARKETABLE SECURITIES AND ASSETS MEASURED AT FAIR VALUE As of March 31, 2020, and December 31, 2019, our marketable securities consisted of certificates of deposit and, due to their short-term nature, the fair value of these securities approximated their carrying values which were $2.5 million and $2.6 million, respectively. The maturities of our certificates of deposit as of March 31, 2020 ranged from April 14, 2020 to October 17, 2020. The value and liquidity of the marketable securities we hold are affected by market conditions, as well as the ability of the issuers of such securities to make principal and interest payments when due, and the functioning of the markets in which these securities are traded. As of March 31, 2020, we do not believe any of the underlying issuers of our marketable securities are at risk of default.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 8. DERIVATIVE FINANCIAL INSTRUMENTS We are impacted by changes in foreign currency exchange rates. We may manage these risks through the use of derivative financial instruments, primarily forward contracts with banks. These forward contracts manage the exchange rate risk associated with intercompany debt denominated in nonfunctional currencies. These derivative instruments are not designated as hedges; however, they do offset the fluctuations of our intercompany debt due to foreign exchange rate changes. These forward contracts are typically for one-month periods. We did not have any currency exchange rate contracts outstanding as of March 31, 2020 and 2019. During the three months ended March 31, 2020 and 2019, the Company recorded small gains and losses related to the foreign currency exchange contracts, which were offset by corresponding gains and losses on the revaluation of the underlying intercompany debt and both are included as a component of Other income (expense), net, in our Unaudited Consolidated Statements of Operations.

ACCOUNTS AND OTHER RECEIVABLE

ACCOUNTS AND OTHER RECEIVABLE	3 Months Ended
	Mar. 31, 2020
ACCOUNTS AND OTHER RECEIVABLE
ACCOUNTS AND OTHER RECEIVABLE	NOTE 9. ACCOUNTS AND OTHER RECEIVABLE Accounts and other receivable are recorded at net realizable value. Components of accounts and other receivable, net of reserves, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Amounts billed, net ​ $ 197,083 ​ $ 227,528 Unbilled receivables ​ ​ 17,277 ​ 19,036 Total receivables, net ​ $ 214,360 ​ $ 246,564 ​ Amounts billed, net consist of amounts that have been invoiced to our customers in accordance with terms and conditions and are shown net of an allowance for credit losses. These receivables are all short-term in nature and do not include any financing components. Unbilled receivables consist of amounts where we have satisfied our contractual obligations related to inventory stocking contracts with customers. Such amounts typically become billable to the customer upon their consumption of the inventory managed under the stocking contracts. We anticipate that substantially all unbilled receivables will be invoiced and collected over the next twelve months. These contracts do not include any financing components. ​ The following table summarizes the changes in expected credit losses during the three months ended March 31, 2020: ​ ​ ​ ​ ​ December 31, 2019 ​ $ 7,745 Additions ​ 202 Deductions - write-offs, net of recoveries ​ (706) March 31, 2020 ​ $ 7,241 ​

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2020
INVENTORIES
INVENTORIES	NOTE 10. INVENTORIES Our inventories are valued at the lower of cost or net realizable value and computed on a first-in, first-out (FIFO) basis. Components of inventories are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Parts and raw materials ​ $ 154,573 ​ $ 134,816 ​ Work in process ​ 15,704 ​ 10,269 ​ Finished goods ​ 65,022 ​ 84,934 ​ Total ​ $ 235,299 ​ $ 230,019 ​ ​

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2020
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	NOTE 11. PROPERTY AND EQUIPMENT Property and equipment, net is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Buildings and land ​ $ 1,584 ​ $ 1,693 ​ Machinery and equipment ​ 105,496 ​ 108,945 ​ Computer and communication equipment ​ 30,111 ​ 29,106 ​ Furniture and fixtures ​ 4,193 ​ 4,119 ​ Vehicles ​ 260 ​ 262 ​ Leasehold improvements ​ 37,341 ​ 33,041 ​ Construction in process ​ 4,583 ​ 9,089 ​ ​ ​ 183,568 ​ 186,255 ​ Less: Accumulated depreciation ​ (77,976) ​ (78,146) ​ Property and equipment, net ​ $ 105,592 ​ $ 108,109 ​ ​ Depreciation expense is recorded in continuing operations and allocated within Cost of sales, Research and development expense and Selling, general and administrative expense in our Unaudited Consolidated Statements of Operations as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Depreciation expense ​ $ 6,610 ​ $ 2,208 ​ ​

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2020
GOODWILL AND INTANGIBLE ASSETS
GOODWILL	NOTE 12. GOODWILL The following table summarizes the changes in goodwill during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ 202,932 Measurement period adjustments to preliminary purchase price allocation ​ ​ (421) Foreign currency translation ​ ​ (362) March 31, 2020 ​ $ 202,149 ​

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2020
GOODWILL AND INTANGIBLE ASSETS
INTANGIBLE ASSETS	NOTE 13. INTANGIBLE ASSETS Intangible assets consisted of the following as of March 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Accumulated Net Carrying March 31, 2020 ​ Amount ​ Amortization ​ Amount Technology ​ $ 82,994 ​ $ (16,550) ​ $ 66,444 Customer relationships ​ 108,451 ​ (19,827) ​ 88,624 Trademarks and other ​ 26,783 ​ (3,372) ​ 23,411 Total ​ $ 218,228 ​ $ (39,749) ​ $ 178,479 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Accumulated Net Carrying December 31, 2019 ​ Amount ​ Amortization ​ Amount Technology ​ $ 83,368 ​ $ (14,250) ​ $ 69,118 Customer relationships ​ 108,995 ​ (18,197) ​ 90,798 Trademarks and other ​ 26,888 ​ (2,793) ​ 24,095 Total ​ $ 219,251 ​ $ (35,240) ​ $ 184,011 ​ Amortization expense related to intangible assets is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Amortization expense ​ $ 5,006 ​ $ 1,973 ​ ​ Estimated amortization expense related to intangibles is as follows: ​ ​ ​ ​ ​ Year Ending December 31, ​ ​ 2020 (remaining) ​ $ 15,023 2021 ​ 19,931 2022 ​ 19,666 2023 ​ 19,649 2024 ​ 16,838 Thereafter ​ 87,372 Total ​ $ 178,479 ​

RESTRUCTURING COSTS

RESTRUCTURING COSTS	3 Months Ended
	Mar. 31, 2020
RESTRUCTURING COSTS
RESTRUCTURING COSTS	NOTE 14. RESTRUCTURING COSTS During 2018, we committed to a restructuring plan to optimize our manufacturing footprint and to improve our operating efficiencies and synergies related to our recent acquisitions. The table below summarizes the restructuring charges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months ​ Three Months ​ Cumulative Cost ​ ​ ​ Ended March 31, ​ Ended March 31, ​ Through March 31, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ Severance and related charges ​ $ 152 $ 153 $ 7,432 ​ Facility relocation and closure charges ​ ​ 504 ​ 1,520 ​ 2,501 ​ Total restructuring charges ​ $ 656 $ 1,673 $ 9,933 ​ ​ The following table summarizes our restructuring liabilities at March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred ​ Cost Paid ​ Effect of ​ ​ ​ ​ ​ Balance at ​ and ​ or ​ Changes in ​ Balance at ​ ​ December 31, ​ Charged to ​ Otherwise ​ Exchange ​ March 31, ​ ​ 2019 ​ Expense ​ Settled ​ Rates ​ 2020 Total restructuring liabilities ​ $ 2,172 ​ $ 656 ​ $ (1,295) ​ $ (1) ​ $ 1,532 ​ As of December 31, 2019, and March 31, 2020 the accrued restructuring liabilities related primarily to facility relocation and closure charges.

WARRANTIES

WARRANTIES	3 Months Ended
	Mar. 31, 2020
WARRANTIES
WARRANTIES	NOTE 15. WARRANTIES Provisions of our sales agreements include customary product warranties, ranging from 12 months to 24 months following installation. The estimated cost of our warranty obligation is recorded when revenue is recognized and is based upon our historical experience by product and configuration. Our estimated warranty obligation is included in Other accrued expenses in our Unaudited Consolidated Balance Sheets. Changes in our product warranty obligation are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Balances at beginning of period ​ $ 6,413 ​ $ 2,084 ​ Increases to accruals ​ 758 ​ 519 ​ Warranty expenditures ​ (856) ​ (345) ​ Effect of changes in exchange rates ​ — ​ 6 ​ Balances at end of period ​ $ 6,315 ​ $ 2,264 ​ ​

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
LEASES
LEASES	NOTE 16. LEASES We lease manufacturing and office space under non-cancelable operating leases. Some of these leases contain provisions for landlord funded leasehold improvements which are recorded as a reduction to right-of-use (“ROU”) assets and the related operating lease liabilities. For leases containing an option to renew, we regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease terms, along with the ROU assets and operating lease liabilities. In many cases, we have lease terms that are less than one year and therefore, we have elected the practical expedient to exclude these short-term leases from our ROU assets and operating lease liabilities. New leases are negotiated and executed to meet business objectives on an on-going basis. Our leases do not provide an implicit rate. Accordingly, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. We have a centrally managed treasury function; therefore, we apply a portfolio approach for determining the incremental borrowing rate applicable to the lease term. Components of operating lease cost were as follows: ​ ​ ​ ​ ​ ​ ​ ​ Three Months ended March 31, ​ 2020 ​ 2019 Operating lease cost $ 4,834 ​ $ 1,850 Short-term and variable lease cost ​ 1,308 ​ ​ 946 Total operating lease cost $ 6,142 ​ $ 2,796 ​ Maturities of our operating lease liabilities at March 31, 2020 are as follows: ​ ​ ​ ​ ​ Year Ending December 31, ​ 2020 (remaining) ​ $ 17,054 2021 ​ 20,395 2022 ​ 13,981 2023 ​ 11,234 2024 ​ ​ 10,104 Thereafter ​ ​ 70,826 Total lease payments ​ ​ 143,594 Less: Interest ​ ​ (30,105) Present value of lease liabilities ​ $ 113,489 ​ Other information related to leases, including supplemental cash flow information, consists of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months ended March 31, ​ ​ ​ 2020 ​ 2019 Cash paid for operating leases ​ ​ $ 5,574 ​ $ 2,891 Right-of-use assets obtained in exchange for operating lease liabilities (1) ​ ​ $ 22,208 ​ $ 38,311 (1) Leases ​ The weighted average remaining lease term and discount rate related to our lease liabilities as of March 31, 2020 were 9.7 years and 4.3%, respectively. As of March 31, 2019, the weighted average remaining lease term and discount rate related to our lease liabilities were 8.4 years and 3.8%, respectively.

PENSION LIABILITY

PENSION LIABILITY	3 Months Ended
	Mar. 31, 2020
PENSION LIABILITY
PENSION LIABILITY	NOTE 17. PENSION LIABILITY In connection with the acquisitions of HiTek Power Group, LumaSense and Artesyn’s Embedded Power business, we assumed the liabilities of its pension plans. In order to measure the expense and related benefit obligation, various assumptions are made including discount rates used to value the obligation, expected return on plan assets used to fund these expenses and estimated future inflation rates. These assumptions are based on historical experience as well as facts and circumstances. An actuarial analysis is used to measure the expense and liability associated with pension benefits. We are committed to make annual fixed payments of $0.8 million into the HiTek Power Limited Pension Scheme through April 30, 2024, and then $1.7 million from May 1, 2024 through November 30, 2033. We are obligated to fund the other pension liabilities each year as incurred. ​ The net pension liability is included in Other long-term liabilities in our Consolidated Balance Sheets as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2020 ​ 2019 Pension liability ​ $ 66,538 ​ $ 68,359 ​ The following table sets forth the components of net periodic pension cost for the three months ended March 31, 2020 and 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Service cost ​ $ 258 ​ $ — ​ Interest cost ​ ​ 480 ​ ​ 199 ​ Expected return on plan assets ​ ​ (148) ​ ​ (170) ​ Amortization of actuarial gains and losses ​ ​ 116 ​ ​ 118 ​ Net periodic pension cost ​ $ 706 ​ $ 147 ​ ​

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2020
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	NOTE 18. STOCK-BASED COMPENSATION On May 4, 2017, the stockholders approved the Company’s 2017 Omnibus Incentive Plan ("the 2017 Plan") and all shares that were then available for issuance under the 2008 Omnibus Incentive Plan are now available for issuance under the 2017 Plan. The 2017 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, stock units (including deferred stock units), unrestricted stock, and dividend equivalent rights. Any of the awards issued under the 2017 Plan may be issued as performance-based awards to align compensation awards to the attainment of annual or long-term performance goals. As of March 31, 2020, there were 2.9 million shares reserved and 2.0 million shares available for grant under the 2017 Plan. ​ Restricted stock units ("RSU’s") are generally granted with a grant date fair value equal to the market price of our stock at the date of grant and with generally a three or four-year vesting schedule or performance-based vesting as determined at the time of grant. Stock option awards are generally granted with an exercise price equal to the market price of our stock at the date of grant and with either a three or four-year vesting schedule or performance-based vesting as determined at the time of grant. Stock option awards generally have a term of 10 years . We recognize stock-based compensation expense based on the fair value of the awards issued and the functional area of the employee receiving the award. Stock-based compensation for the three months ended March 31, 2020 and 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Stock-based compensation expense ​ $ 3,048 ​ $ 3,199 ​ ​ Changes in the outstanding RSU awards during the three months ended March 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ Weighted- ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ ​ ​ Number of RSUs ​ Fair Value ​ RSUs outstanding at beginning of period 534 ​ $ 56.56 RSUs granted 293 ​ $ 59.32 RSUs vested (94) ​ $ 58.47 RSUs forfeited (13) ​ $ 61.29 RSUs outstanding at end of period 720 ​ $ 57.34 ​ Changes in our outstanding stock options during the three months ended March 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ Weighted- ​ ​ ​ ​ ​ Average ​ ​ ​ Number of ​ Exercise Price ​ ​ ​ Options ​ per Share ​ Options outstanding at beginning of period 185 ​ $ 21.56 Options exercised (5) ​ $ 15.73 Options forfeited — ​ $ — Options expired (2) ​ $ 15.65 Options outstanding at end of period 178 ​ $ 21.79 Options vested during the year — ​ ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 19. COMMITMENTS AND CONTINGENCIES We have firm purchase commitments and agreements with various suppliers to ensure the availability of components. Purchase commitments as of March 31, 2020 are approximately $202.3 million. Our policy with respect to all purchase commitments is to record losses, if any, when they are probable and reasonably estimable. We continuously monitor these commitments for exposure to potential losses and will record a provision for losses when it is deemed necessary. We are involved in disputes and legal actions arising in the normal course of our business. There have been no material developments in legal proceedings in which we are involved during the three months ended March 31, 2020.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2020
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 20. RELATED PARTY TRANSACTIONS Members of our Board of Directors hold various executive positions and serve as directors at other companies, including companies that are our customers. During the three months ended March 31, 2020 and 2019, we engaged in the following transactions with companies related to members of our Board of Directors, as described below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Sales to related parties ​ $ — ​ $ 352 ​ Number of related party customers ​ 1 ​ 1 ​ We did not have any accounts receivable balances from related party customers with outstanding balances as of March 31, 2020 and December 31, 2019. ​ We did not have any outstanding accounts payable with our related parties as of March 31, 2020 or December 31, 2019.

SIGNIFICANT CUSTOMER INFORMATIO

SIGNIFICANT CUSTOMER INFORMATION	3 Months Ended
	Mar. 31, 2020
SIGNIFICANT CUSTOMER INFORMATION
SIGNIFICANT CUSTOMER INFORMATION	NOTE 21. SIGNIFICANT CUSTOMER INFORMATION The following table summarizes sales, and percentages of sales, by customers that individually accounted for 10% or more of our sales for the three months ended March 31, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 ​ 2019 Applied Materials, Inc. ​ $ 50,981 16.2 % ​ $ 36,290 25.8 % LAM Research ​ 32,996 10.5 % ​ 19,667 14.0 % ​ The following table summarizes the accounts receivable balances, and percentages of the total accounts receivable, for customers that individually accounted for 10% or more of accounts receivable as of March 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ ​ 2020 ​ ​ 2019 ​ Applied Materials, Inc. ​ $ 32,627 15.2 % ​ $ 36,849 14.9 % ​ Our sales to Applied Materials, Inc., and LAM Research, include precision power products used in semiconductor processing and solar and flat panel display. No other customer accounted for 10% or more of our sales or accounts receivable balances during these periods.

CREDIT FACILITY

CREDIT FACILITY	3 Months Ended
	Mar. 31, 2020
CREDIT FACILITY
CREDIT FACILITY	NOTE 22. CREDIT FACILITY In September 2019, in connection with the Artesyn Acquisition Agreement, the Company entered into a credit agreement (“Credit Agreement”) that provided aggregate financing of $500.0 million, consisting of a $350.0 million senior unsecured term loan facility (the “Term Loan Facility”) and a $150.0 million senior unsecured revolving facility the (“Revolving Facility”). Both the Term Loan Facility and Revolving Facility mature on September 10, 2024. The Revolving Facility and Term Loan Facility bear interest, at the option of the Company, at a rate based on a reserve adjusted “Eurodollar Rate” or “Base Rate”, plus an applicable margin. Additionally, the Revolving Facility is subject to an unused line fee. As of March 31, 2020, the effective interest rate for the Revolving Facility and Term Loan Facility was 1.74% and the effective rate for the unused line fee was 0.10%. As of March 31, 2020, the Company had $150.0 million available to withdraw on the Revolving Facility and was in compliance with all covenants. The fair value of the Company’s outstanding In connection ​ On April 6, 2020 and April 7, 2020, the Company executed interest rate swap transactions in an aggregate notional amount of $286.3 million with various financial institutions. The initial notional amount of the interest rate swap transactions represents 85% of the outstanding principal balance of the “Term Loan Facility” debt under the Company’s existing Credit Agreement, dated as of September 10, 2019, and provides for the Company to pay an average fixed rate of 0.521% per annum in exchange for a variable interest rate based on one-month USD-LIBOR-BBA. The total cost to the Company is the base rate plus the credit spread in the Credit Agreement, which is 75 basis points at current leverage ratios for a total interest rate of 1.271%. ​ The debt obligation on our Unaudited Consolidated Balance Sheets consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Debt: ​ ​ ​ ​ ​ ​ ​ Term Loan Facility ​ $ 336,875 ​ $ 341,250 ​ Less: debt issuance costs ​ ​ (2,090) ​ ​ (2,223) ​ Total debt ​ ​ 334,785 ​ ​ 339,027 ​ Less current portion of long-term debt ​ ​ (17,500) ​ ​ (17,500) ​ Total long-term debt ​ $ 317,285 ​ $ 321,527 ​ ​ Contractual maturities of the Company’s debt obligations, excluding amortization of debt issuance costs, as of March 31, 2020 are as follows: ​ ​ ​ ​ ​ ​ Amount 2020 (remaining) ​ $ 13,125 2021 ​ ​ 17,500 2022 ​ ​ 17,500 2023 ​ ​ 17,500 2024 ​ ​ 271,250 Total ​ $ 336,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Interest expense ​ $ 2,099 ​ $ — ​ Amortization of debt issuance costs ​ ​ 133 ​ ​ — ​ Unused line of credit fees and other ​ ​ 38 ​ ​ 56 ​ Total interest expense ​ $ 2,270 ​ $ 56 ​ ​

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2020
BASIS OF PRESENTATION
Use of Estimates in the Preparation of the Consolidated Financial Statements	Use of Estimates in the Preparation of the Consolidated Financial Statements The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We believe that the significant estimates, assumptions, and judgments when accounting for items and matters such as allowances for doubtful accounts, excess and obsolete inventory, warranty reserves, right-of-use assets and related liabilities, acquisitions, asset valuations, asset life, depreciation, amortization, recoverability of assets, impairments, deferred revenue, stock option and restricted stock grants, taxes, and other provisions are reasonable, based upon information available at the time they are made. Actual results may differ from these estimates, making it possible that a change in these estimates could occur in the near term.
Critical Accounting Policy	Critical Accounting Policies Our accounting policies are described in our audited Consolidated Financial Statements and Notes contained in our Annual Report on Form 10-K for the year ended December 31, 2019.
New Accounting Standards	New Accounting Standards From time to time, the Financial Accounting Standards Board ("FASB") or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification ("ASC") are communicated through issuance of an Accounting Standards Update ("ASU"). Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on the Consolidated Financial Statements upon adoption.
Recently issued accounting pronouncements not yet adopted	Recently issued accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820)" ("ASU 2018-13"). ASU 2018-13 modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. ASU 2018-13 is effective for fiscal years ending after December 15, 2019 and shall be applied to all periods presented on a retrospective basis. Early adoption is permitted. We are currently assessing and do not believe ASU 2018-13 will have a significant impact on our fair value measurements disclosure requirements. In August 2018, the FASB issued ASU 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20)" ("ASU 2018-14"). ASU 2018-14 eliminates requirements for certain disclosures and requires additional disclosures under defined benefit pension plans and other post-retirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020 and shall be applied to all periods presented on a retrospective basis. Early adoption is permitted. We are currently assessing and do not believe ASU 2018-14 will have a significant impact on our defined benefit plan disclosure requirements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued. ASU 2020-04 will be in effect through December 31, 2022. We are currently assessing the potential impact of ASU 2020-04 on our Consolidated Financial Statements.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326)", Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. We adopted ASU 2016-13 in the first quarter of fiscal year 2020 through a cumulative-effect adjustment to beginning retained earnings using the modified retrospective approach. The impact of the adoption of ASU 2016-13 was not material to our Consolidated Financial Statements. The Company’s principal customers are original equipment manufacturers and end user customers, which operate globally through wholly owned subsidiaries that purchase the Company’s products under substantially the same credit terms, with similar historical credit risks. As a result, the Company assesses credit risks for its customers as a single group. The Company evaluates collection risk and establishes its expected credit loss primarily through a combination of the following: an assessment of customer credit risk ratings utilizing third party credit risk data, analysis of historical aging and credit loss experience, and customer specific information. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which is meant to simplify and reduce the cost of accounting for income taxes. The FASB has stated that the ASU 2019-12 is being issued in connection with its Simplification Initiative, which is meant to reduce complexity in accounting standards by improving certain areas of generally accepted accounting principles without compromising information provided to users of financial statements. We early adopted ASU 2019-12 in the first quarter of 2020. The impact of the adoption of ASU 2019-12 was not material to our Consolidated Financial Statements.

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables) - Artesyn's Embedded Power Business [Member]	3 Months Ended
	Mar. 31, 2020
Business Acquisition [Line Items]
Schedule of components of fair value of total consideration transferred	The components of the fair value of the total consideration transferred for the acquisition is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for acquisition ​ $ 389,326 Non-cash consideration ​ 2,000 Contingent consideration and working capital adjustments ​ ​ (6,848) Total fair value of consideration transferred ​ ​ 384,478 Less cash acquired ​ (23,225) Total purchase price ​ $ 361,253
Schedule of fair value of assets acquired and liabilities assumed	​ The following table summarizes the estimated preliminary fair values of the assets acquired and liabilities assumed from the acquisition, along with the measurement period adjustments that occurred during the quarter: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary: September 10, 2019 ​ Measurement Period Adjustments ​ Preliminary: September 10, 2019 Accounts and other receivable, net ​ $ 128,221 ​ $ 4,245 ​ $ 132,466 Inventories ​ 139,778 ​ ​ 16,629 ​ ​ 156,407 Property and equipment ​ 63,032 ​ ​ 289 ​ ​ 63,321 Operating lease right-of-use assets ​ ​ 60,073 ​ ​ (5,634) ​ ​ 54,439 Goodwill ​ 113,040 ​ ​ (421) ​ ​ 112,619 Intangible assets ​ 124,000 ​ ​ - ​ ​ 124,000 Other assets ​ 64,018 ​ ​ (155) ​ ​ 63,863 Total assets acquired ​ 692,162 ​ ​ 14,953 ​ ​ 707,115 Accounts payable ​ 144,702 ​ ​ 7,933 ​ ​ 152,635 Operating lease liability ​ ​ 60,111 ​ ​ (5,634) ​ ​ 54,477 Pension liability ​ ​ 48,686 ​ ​ (371) ​ ​ 48,315 Deferred income tax liabilities ​ 5,846 ​ ​ 24 ​ ​ 5,870 Other liabilities ​ 71,564 ​ ​ 13,001 ​ ​ 84,565 Total liabilities assumed ​ 330,909 ​ ​ 14,953 ​ ​ 345,862 Total fair value of net assets acquired ​ $ 361,253 ​ $ - ​ $ 361,253 ​ A summary of the intangible assets acquired, amortization method and estimated useful lives are as follows: ​
Summary of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Preliminary: September 10, 2019 ​ Measurement Period Adjustments ​ Preliminary: September 10, 2019 Accounts and other receivable, net ​ $ 128,221 ​ $ 4,245 ​ $ 132,466 Inventories ​ 139,778 ​ ​ 16,629 ​ ​ 156,407 Property and equipment ​ 63,032 ​ ​ 289 ​ ​ 63,321 Operating lease right-of-use assets ​ ​ 60,073 ​ ​ (5,634) ​ ​ 54,439 Goodwill ​ 113,040 ​ ​ (421) ​ ​ 112,619 Intangible assets ​ 124,000 ​ ​ - ​ ​ 124,000 Other assets ​ 64,018 ​ ​ (155) ​ ​ 63,863 Total assets acquired ​ 692,162 ​ ​ 14,953 ​ ​ 707,115 Accounts payable ​ 144,702 ​ ​ 7,933 ​ ​ 152,635 Operating lease liability ​ ​ 60,111 ​ ​ (5,634) ​ ​ 54,477 Pension liability ​ ​ 48,686 ​ ​ (371) ​ ​ 48,315 Deferred income tax liabilities ​ 5,846 ​ ​ 24 ​ ​ 5,870 Other liabilities ​ 71,564 ​ ​ 13,001 ​ ​ 84,565 Total liabilities assumed ​ 330,909 ​ ​ 14,953 ​ ​ 345,862 Total fair value of net assets acquired ​ $ 361,253 ​ $ - ​ $ 361,253
Schedule of unaudited pro forma information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2019 ​ As Reported Pro Forma Total sales $ 140,743 $ 295,975 Net income attributable to Advanced Energy Industries, Inc. $ 15,370 $ 21,544 Earnings per share: ​ ​ ​ ​ Basic earnings per share ​ $ 0.40 ​ $ 0.56 Diluted earnings per share ​ $ 0.40 ​ $ 0.56

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2020
REVENUE
Schedule of disaggregation of revenue	Disaggregation of Revenue The following table presents our sales by product line, inclusive of both products and services, which includes certain reclassification to prior comparative periods to conform to our current year presentation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Semiconductor Equipment ​ $ 133,625 ​ $ 91,437 ​ Industrial & Medical ​ 61,979 ​ 49,306 ​ Data Center Computing ​ ​ 86,183 ​ ​ — ​ Telecom & Networking ​ ​ 33,669 ​ ​ — ​ Total ​ $ 315,456 ​ $ 140,743 ​ ​ The following table presents our sales by geographic region: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 ​ 2019 North America ​ $ 164,331 $ 58,506 Asia ​ 110,975 ​ 58,435 Europe ​ 39,136 ​ 23,426 Other ​ 1,014 ​ 376 Total ​ $ 315,456 $ 140,743 ​ The following table presents our net sales by extended warranty and service contracts recognized over time and our product and service revenue recognized at a point in time: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Product and service revenue recognized at point in time ​ $ 315,281 ​ $ 139,840 ​ Extended warranty and service contracts recognized over time ​ 175 ​ 903 ​ Total ​ $ 315,456 ​ $ 140,743 ​

DISPOSED AND DISCONTINUED OPE_2

DISPOSED AND DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2020
DISPOSED AND DISCONTINUED OPERATIONS
Schedule of disposal groups, including discontinued operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Sales ​ $ — ​ $ — ​ Cost of sales ​ — ​ — ​ Total operating expense ​ 139 ​ — ​ Operating income (loss) from discontinued operations ​ (139) ​ — ​ Other income (expense) ​ (210) ​ (4) ​ Income (loss) from discontinued operations before income taxes ​ (349) ​ (4) ​ Provision (benefit) for income taxes ​ (29) ​ 5 ​ Income (loss) from discontinued operations, net of income taxes ​ $ (320) ​ $ (9) ​ ​ Assets and Liabilities of discontinued operations within the Consolidated Balance Sheets are comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Cash and cash equivalents ​ $ — ​ $ — Accounts and other receivables, net ​ ​ — ​ ​ — Inventories ​ ​ 23 ​ ​ 30 Other current assets ​ ​ 23 ​ ​ 30 Other assets ​ ​ — ​ ​ — Deferred income tax assets ​ 269 ​ 269 Deposits and other assets ​ ​ 269 ​ ​ 269 Accounts payable and other accrued expenses ​ ​ 122 ​ ​ — Accrued warranty ​ 967 ​ 914 Other accrued expenses ​ ​ 1,089 ​ ​ 914 Accrued warranty ​ ​ 462 ​ ​ 698 Other liabilities ​ 191 ​ 189 Other long-term liabilities ​ $ 653 ​ $ 887

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2020
INCOME TAXES
Schedule of tax expense and the effective tax rate for income from continuing operations	The following table sets out the tax expense and the effective tax rate for our income from continuing operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Income from continuing operations, before income taxes ​ $ 22,298 ​ $ 12,534 ​ Provision for income taxes ​ ​ 3,900 ​ ​ (2,853) ​ Effective tax rate ​ ​ 17.5 % ​ (22.8) %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
EARNINGS PER SHARE
Reconciliation of weighted-average shares outstanding used in calculation of basic and diluted EPS	The following is a reconciliation of the weighted-average shares outstanding used in the calculation of basic and diluted EPS for the three months ended March 31, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Income from continuing operations ​ $ 18,398 ​ $ 15,387 ​ Income from continuing operations attributable to noncontrolling interest ​ 15 ​ 8 ​ Income from continuing operations attributable to Advanced Energy Industries, Inc. ​ $ 18,383 ​ $ 15,379 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted-average common shares outstanding ​ 38,358 ​ 38,198 ​ Assumed exercise of dilutive stock options and restricted stock units ​ 212 ​ 228 ​ Diluted weighted-average common shares outstanding ​ 38,570 ​ 38,426 ​ Continuing operations: ​ ​ ​ Basic earnings per share ​ $ 0.48 ​ $ 0.40 ​ Diluted earnings per share ​ $ 0.48 ​ $ 0.40 ​ ​
Schedule of stock options and restricted units excluded in computation of diluted EPS	The following restricted stock units were excluded in the computation of diluted earnings per share because they were anti-dilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Restricted stock units — 119
Schedule of repurchase of shares of common stock	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (in thousands, except per share amounts) 2020 2019 ​ Amount paid to repurchase shares ​ $ 7,248 ​ $ — ​ Number of shares repurchased ​ 170 ​ — ​ Average repurchase price per share ​ $ 42.59 ​ $ — ​

ACCOUNTS AND OTHER RECEIVABLE (

ACCOUNTS AND OTHER RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2020
ACCOUNTS AND OTHER RECEIVABLE
Schedule of accounts and other receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Amounts billed, net ​ $ 197,083 ​ $ 227,528 Unbilled receivables ​ ​ 17,277 ​ 19,036 Total receivables, net ​ $ 214,360 ​ $ 246,564
Schedule of expected credit losses	​ ​ ​ ​ ​ December 31, 2019 ​ $ 7,745 Additions ​ 202 Deductions - write-offs, net of recoveries ​ (706) March 31, 2020 ​ $ 7,241

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2020
INVENTORIES
Schedule of components of inventories	Our inventories are valued at the lower of cost or net realizable value and computed on a first-in, first-out (FIFO) basis. Components of inventories are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Parts and raw materials ​ $ 154,573 ​ $ 134,816 ​ Work in process ​ 15,704 ​ 10,269 ​ Finished goods ​ 65,022 ​ 84,934 ​ Total ​ $ 235,299 ​ $ 230,019 ​

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2020
PROPERTY AND EQUIPMENT
Schedule of details of property and equipment	Property and equipment, net is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Buildings and land ​ $ 1,584 ​ $ 1,693 ​ Machinery and equipment ​ 105,496 ​ 108,945 ​ Computer and communication equipment ​ 30,111 ​ 29,106 ​ Furniture and fixtures ​ 4,193 ​ 4,119 ​ Vehicles ​ 260 ​ 262 ​ Leasehold improvements ​ 37,341 ​ 33,041 ​ Construction in process ​ 4,583 ​ 9,089 ​ ​ ​ 183,568 ​ 186,255 ​ Less: Accumulated depreciation ​ (77,976) ​ (78,146) ​ Property and equipment, net ​ $ 105,592 ​ $ 108,109 ​
Schedule of depreciation expense recorded in continuing operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Depreciation expense ​ $ 6,610 ​ $ 2,208 ​

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2020
GOODWILL AND INTANGIBLE ASSETS
Schedule of changes in goodwill	The following table summarizes the changes in goodwill during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ 202,932 Measurement period adjustments to preliminary purchase price allocation ​ ​ (421) Foreign currency translation ​ ​ (362) March 31, 2020 ​ $ 202,149

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2020
GOODWILL AND INTANGIBLE ASSETS
Schedule of intangible assets	Intangible assets consisted of the following as of March 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Accumulated Net Carrying March 31, 2020 ​ Amount ​ Amortization ​ Amount Technology ​ $ 82,994 ​ $ (16,550) ​ $ 66,444 Customer relationships ​ 108,451 ​ (19,827) ​ 88,624 Trademarks and other ​ 26,783 ​ (3,372) ​ 23,411 Total ​ $ 218,228 ​ $ (39,749) ​ $ 178,479 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Accumulated Net Carrying December 31, 2019 ​ Amount ​ Amortization ​ Amount Technology ​ $ 83,368 ​ $ (14,250) ​ $ 69,118 Customer relationships ​ 108,995 ​ (18,197) ​ 90,798 Trademarks and other ​ 26,888 ​ (2,793) ​ 24,095 Total ​ $ 219,251 ​ $ (35,240) ​ $ 184,011
Schedule of amortization expense related to intangible assets	Amortization expense related to intangible assets is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Amortization expense ​ $ 5,006 ​ $ 1,973 ​
Schedule of estimated amortization expense related to intangible assets	​ Estimated amortization expense related to intangibles is as follows: ​ ​ ​ ​ ​ Year Ending December 31, ​ ​ 2020 (remaining) ​ $ 15,023 2021 ​ 19,931 2022 ​ 19,666 2023 ​ 19,649 2024 ​ 16,838 Thereafter ​ 87,372 Total ​ $ 178,479

RESTRUCTURING COSTS (Tables)

RESTRUCTURING COSTS (Tables)	3 Months Ended
	Mar. 31, 2020
RESTRUCTURING COSTS
Schedule of restructuring charges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months ​ Three Months ​ Cumulative Cost ​ ​ ​ Ended March 31, ​ Ended March 31, ​ Through March 31, ​ ​ ​ 2020 ​ 2019 ​ 2020 ​ Severance and related charges ​ $ 152 $ 153 $ 7,432 ​ Facility relocation and closure charges ​ ​ 504 ​ 1,520 ​ 2,501 ​ Total restructuring charges ​ $ 656 $ 1,673 $ 9,933 ​
Schedule of restructuring liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred ​ Cost Paid ​ Effect of ​ ​ ​ ​ ​ Balance at ​ and ​ or ​ Changes in ​ Balance at ​ ​ December 31, ​ Charged to ​ Otherwise ​ Exchange ​ March 31, ​ ​ 2019 ​ Expense ​ Settled ​ Rates ​ 2020 Total restructuring liabilities ​ $ 2,172 ​ $ 656 ​ $ (1,295) ​ $ (1) ​ $ 1,532

WARRANTIES (Tables)

WARRANTIES (Tables)	3 Months Ended
	Mar. 31, 2020
WARRANTIES
Schedule of changes in accrued product warranties	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Balances at beginning of period ​ $ 6,413 ​ $ 2,084 ​ Increases to accruals ​ 758 ​ 519 ​ Warranty expenditures ​ (856) ​ (345) ​ Effect of changes in exchange rates ​ — ​ 6 ​ Balances at end of period ​ $ 6,315 ​ $ 2,264 ​

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
LEASES
Components of operating lease cost	​ ​ ​ ​ ​ ​ ​ ​ Three Months ended March 31, ​ 2020 ​ 2019 Operating lease cost $ 4,834 ​ $ 1,850 Short-term and variable lease cost ​ 1,308 ​ ​ 946 Total operating lease cost $ 6,142 ​ $ 2,796
Schedule of maturities of operating lease liabilities	Maturities of our operating lease liabilities at March 31, 2020 are as follows: ​ ​ ​ ​ ​ Year Ending December 31, ​ 2020 (remaining) ​ $ 17,054 2021 ​ 20,395 2022 ​ 13,981 2023 ​ 11,234 2024 ​ ​ 10,104 Thereafter ​ ​ 70,826 Total lease payments ​ ​ 143,594 Less: Interest ​ ​ (30,105) Present value of lease liabilities ​ $ 113,489
Schedule of other information related to leases	​ ​ ​ ​ ​ Year Ending December 31, ​ 2020 (remaining) ​ $ 17,054 2021 ​ 20,395 2022 ​ 13,981 2023 ​ 11,234 2024 ​ ​ 10,104 Thereafter ​ ​ 70,826 Total lease payments ​ ​ 143,594 Less: Interest ​ ​ (30,105) Present value of lease liabilities ​ $ 113,489

PENSION LIABILITY (Tables)

PENSION LIABILITY (Tables)	3 Months Ended
	Mar. 31, 2020
PENSION LIABILITY
Schedule of net funded status	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2020 ​ 2019 Pension liability ​ $ 66,538 ​ $ 68,359
Schedule of net periodic pension benefit costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Service cost ​ $ 258 ​ $ — ​ Interest cost ​ ​ 480 ​ ​ 199 ​ Expected return on plan assets ​ ​ (148) ​ ​ (170) ​ Amortization of actuarial gains and losses ​ ​ 116 ​ ​ 118 ​ Net periodic pension cost ​ $ 706 ​ $ 147 ​

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock-based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Stock-based compensation expense ​ $ 3,048 ​ $ 3,199 ​
Summary of stock option activity	Changes in our outstanding stock options during the three months ended March 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ Weighted- ​ ​ ​ ​ ​ Average ​ ​ ​ Number of ​ Exercise Price ​ ​ ​ Options ​ per Share ​ Options outstanding at beginning of period 185 ​ $ 21.56 Options exercised (5) ​ $ 15.73 Options forfeited — ​ $ — Options expired (2) ​ $ 15.65 Options outstanding at end of period 178 ​ $ 21.79 Options vested during the year — ​
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of stock option activity	Changes in the outstanding RSU awards during the three months ended March 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ Weighted- ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Grant Date ​ ​ ​ Number of RSUs ​ Fair Value ​ RSUs outstanding at beginning of period 534 ​ $ 56.56 RSUs granted 293 ​ $ 59.32 RSUs vested (94) ​ $ 58.47 RSUs forfeited (13) ​ $ 61.29 RSUs outstanding at end of period 720 ​ $ 57.34

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2020
RELATED PARTY TRANSACTIONS
Schedule of related party transactions	Members of our Board of Directors hold various executive positions and serve as directors at other companies, including companies that are our customers. During the three months ended March 31, 2020 and 2019, we engaged in the following transactions with companies related to members of our Board of Directors, as described below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Sales to related parties ​ $ — ​ $ 352 ​ Number of related party customers ​ 1 ​ 1 ​ We did not have any accounts receivable balances from related party customers with outstanding balances as of March 31, 2020 and December 31, 2019.

SIGNIFICANT CUSTOMER INFORMAT_2

SIGNIFICANT CUSTOMER INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
SIGNIFICANT CUSTOMER INFORMATION
Schedule of revenue by major customers by reporting segments	The following table summarizes sales, and percentages of sales, by customers that individually accounted for 10% or more of our sales for the three months ended March 31, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 ​ 2019 Applied Materials, Inc. ​ $ 50,981 16.2 % ​ $ 36,290 25.8 % LAM Research ​ 32,996 10.5 % ​ 19,667 14.0 % ​ The following table summarizes the accounts receivable balances, and percentages of the total accounts receivable, for customers that individually accounted for 10% or more of accounts receivable as of March 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ December 31, ​ ​ ​ 2020 ​ ​ 2019 ​ Applied Materials, Inc. ​ $ 32,627 15.2 % ​ $ 36,849 14.9 %

CREDIT FACILITY (Tables)

CREDIT FACILITY (Tables)	3 Months Ended
	Mar. 31, 2020
CREDIT FACILITY
Schedule of debt obligation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Debt: ​ ​ ​ ​ ​ ​ ​ Term Loan Facility ​ $ 336,875 ​ $ 341,250 ​ Less: debt issuance costs ​ ​ (2,090) ​ ​ (2,223) ​ Total debt ​ ​ 334,785 ​ ​ 339,027 ​ Less current portion of long-term debt ​ ​ (17,500) ​ ​ (17,500) ​ Total long-term debt ​ $ 317,285 ​ $ 321,527 ​
Schedule of contractual maturities of debt obligations	​ ​ ​ ​ ​ Amount 2020 (remaining) ​ $ 13,125 2021 ​ ​ 17,500 2022 ​ ​ 17,500 2023 ​ ​ 17,500 2024 ​ ​ 271,250 Total ​ $ 336,875
Schedule of interest expense and unused line of credit fees	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 2019 ​ Interest expense ​ $ 2,099 ​ $ — ​ Amortization of debt issuance costs ​ ​ 133 ​ ​ — ​ Unused line of credit fees and other ​ ​ 38 ​ ​ 56 ​ Total interest expense ​ $ 2,270 ​ $ 56 ​

BUSINESS ACQUISITIONS - Acquisi

BUSINESS ACQUISITIONS - Acquisitions (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 10, 2019
Revolving Facility [Member]
Business Acquisition [Line Items]
Line of credit facility, borrowing capacity	$ 500,000
Artesyn's Embedded Power Business [Member]
Business Acquisition [Line Items]
Purchase price	$ 361,253	$ 361,253

BUSINESS ACQUISITIONS - Conside

BUSINESS ACQUISITIONS - Consideration Transferred (Details) - Artesyn's Embedded Power Business [Member] - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2019	Sep. 10, 2019
Business Acquisition [Line Items]
Cash paid for acquisition	$ 389,326
Non-cash consideration	2,000
Contingent consideration and working capital adjustments	(6,848)
Total fair value of consideration transferred	384,478
Less cash acquired	(23,225)
Total purchase price	$ 361,253	$ 361,253

BUSINESS ACQUISITIONS - Assets

BUSINESS ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - Artesyn's Embedded Power Business [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 10, 2019
Business Acquisition [Line Items]
Accounts and other receivable, net		$ 132,466
Inventories		156,407
Property and equipment		63,321
Operating lease right-of-use assets		54,439
Goodwill		112,619
Intangible assets		124,000
Other assets		63,863
Total assets acquired		707,115
Accounts payable		152,635
Operating lease liability		54,477
Pension liability		48,315
Deferred income tax liabilities		5,870
Other liabilities		84,565
Total liabilities assumed		345,862
Total fair value of net assets acquired	$ 361,253	361,253
Preliminary [Member]
Business Acquisition [Line Items]
Accounts and other receivable, net		128,221
Inventories		139,778
Property and equipment		63,032
Operating lease right-of-use assets		60,073
Goodwill		113,040
Intangible assets		124,000
Other assets		64,018
Total assets acquired		692,162
Accounts payable		144,702
Operating lease liability		60,111
Pension liability		48,686
Deferred income tax liabilities		5,846
Other liabilities		71,564
Total liabilities assumed		330,909
Total fair value of net assets acquired		361,253
Measurement Period Adjustments [Member]
Business Acquisition [Line Items]
Accounts and other receivable, net		4,245
Inventories		16,629
Property and equipment		289
Operating lease right-of-use assets		(5,634)
Goodwill		(421)
Other assets		(155)
Total assets acquired		14,953
Accounts payable		7,933
Operating lease liability		(5,634)
Pension liability		(371)
Deferred income tax liabilities		24
Other liabilities		13,001
Total liabilities assumed		$ 14,953

BUSINESS ACQUISITIONS - Intangi

BUSINESS ACQUISITIONS - Intangible Assets Acquired (Details) $ in Thousands	Sep. 10, 2019USD ($)
Artesyn's Embedded Power Business [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets:	$ 124,000

BUSINESS ACQUISITIONS - Unaudit

BUSINESS ACQUISITIONS - Unaudited Pro Forma Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition, Pro Forma Information [Abstract]
Sales, net	$ 315,456	$ 140,743
Net income attributable to Advanced Energy Industries, Inc, As Reported	$ 18,063	$ 15,370
Earnings Per Share, Pro Forma [Abstract]
Basic earnings per share, As Reported	$ 0.47	$ 0.40
Diluted earnings per share	$ 0.47	$ 0.40
Artesyn's Embedded Power Business [Member]
Business Acquisition, Pro Forma Information [Abstract]
Sales, net	$ 153,900	$ 140,743
Total sales, Pro Forma		295,975
Net income attributable to Advanced Energy Industries, Inc, As Reported	$ (1,000)	15,370
Net income attributable to Advanced Energy Industries, Inc., Pro Forma		$ 21,544
Earnings Per Share, Pro Forma [Abstract]
Basic earnings per share, As Reported		$ 0.40
Basic earnings per share, Pro Forma		0.56
Diluted earnings per share		0.40
Diluted earnings per share, Pro Forma		$ 0.56

BUSINESS ACQUISITIONS - (Detail

BUSINESS ACQUISITIONS - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition [Line Items]
Sales, net	$ 315,456	$ 140,743
Net loss	(18,063)	(15,370)
Artesyn's Embedded Power Business [Member]
Business Acquisition [Line Items]
Sales, net	153,900	140,743
Net loss	$ 1,000	$ (15,370)

REVENUE - Nature of goods and s

REVENUE - Nature of goods and services (Details) - USD ($) $ in Millions	1 Months Ended	144 Months Ended
	May 31, 2019	Dec. 31, 2031	Mar. 31, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue transferred to buyer during sale	$ 22
Deferred Service Revenue			$ 8.9	$ 9.2
Minimum | Scenario, Forecast [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of Deferred Revenue, Expected Annual Amount		$ 0.2
Maximum | Scenario, Forecast [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of Deferred Revenue, Expected Annual Amount		$ 1

REVENUE - Revenue by product li

REVENUE - Revenue by product line (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 315,456	$ 140,743
North America [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	164,331	58,506
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	110,975	58,435
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39,136	23,426
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,014	376
Semiconductor Equipment [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	133,625	91,437
Industrial And Medical [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	61,979	$ 49,306
Data Center Computing [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	86,183
Telecom And Networking [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 33,669

REVENUE - Extended Warranty Rev

REVENUE - Extended Warranty Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 315,456	$ 140,743
Product and service revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	315,281	139,840
Extended warranty and service contracts recognized over time
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 175	$ 903

DISPOSED AND DISCONTINUED OPE_3

DISPOSED AND DISCONTINUED OPERATIONS - Disposed Operations (Details) - Grid Tied Central Solar Inverter Services Business[Member] - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] - Bold Renewables Holdings, LLC [Member] - USD ($)	1 Months Ended	3 Months Ended
	May 31, 2019	Mar. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of services	$ 1
Loan	2,800,000	$ 1,000,000	$ 1,500,000
Amount available to borrow	$ 2,750,000
Loan term	10 years
Disposed operation of discount eligibility	30 days
Disposed operations recognized reduction to gain on sale	$ 2,300,000
Non-cash gain, net of tax expense, from discontinued operations	8,600,000
Continuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of extended warranty service obligation	22,000,000
Non cash gain from continuing operations	14,800,000
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of reduced liabilities held in discontinued operations	10,900,000
Tax expense from discontinued operations	$ 2,400,000
Interest Rate, First Seven Years [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of interest (percent)	0.00%
Interest Rate, Thereafter [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of interest (percent)	5.00%
Discounts On First Three Years [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of early payment discounts (percent)	50.00%
Discounts On Year Four And Five [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of early payment discounts (percent)	45.00%
Discounts Thereafter [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposed operations of early payment discounts (percent)	40.00%

DISPOSED AND DISCONTINUED OPE_4

DISPOSED AND DISCONTINUED OPERATIONS - Statement of Operations for Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
DISPOSED AND DISCONTINUED OPERATIONS
Total operating expense	$ 139
Operating income (loss) from discontinued operations	(139)
Other income (expense)	(210)	$ (4)
Income (loss) from discontinued operations before income taxes	(349)	(4)
Provision (benefit) for income taxes	(29)	5
Loss from discontinued operations, net of income taxes	$ (320)	$ (9)

DISPOSED AND DISCONTINUED OPE_5

DISPOSED AND DISCONTINUED OPERATIONS - Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
DISPOSED AND DISCONTINUED OPERATIONS
Cash and cash equivalents			$ 4,140
Inventories	$ 23	$ 30
Other current assets	23	30
Deferred income tax assets	269	269
Deposits and other assets	269	269
Accounts payable and other accrued expenses	122
Accrued warranty	967	914
Other accrued expenses	1,089	914
Accrued warranty	462	698
Other liabilities	191	189
Other long-term liabilities	$ 653	$ 887

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
INCOME TAXES
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%

INCOME TAXES - Schedule of tax

INCOME TAXES - Schedule of tax expense and effective tax rate for income from continuing operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
INCOME TAXES
Income from continuing operations, before income taxes	$ 22,298	$ 12,534
Provision (benefit) for income taxes	$ 3,900	$ (2,853)
Effective tax rate	0.00%	(22.80%)

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of weighted-average shares outstanding used in calculation of basic and diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
EARNINGS PER SHARE
Income from continuing operations	$ 18,398	$ 15,387
Income from continuing operations attributable to noncontrolling interest	15	8
Income from continuing operations attributable to Advanced Energy Industries, Inc.	$ 18,383	$ 15,379
Basic weighted-average common shares outstanding	38,358	38,198
Assumed exercise of dilutive stock options and restricted stock units	212	228
Diluted weighted-average common shares outstanding	38,570	38,426
Continuing Operations:
Basic earnings per share	$ 0.48	$ 0.40
Diluted earnings per share	$ 0.48	$ 0.40

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of stock options and restricted units excluded in the computation of diluted earnings per share (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2019shares
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options and restricted units excluded from the computation of diluted earnings per share because they were anti-dilutive	119

EARNINGS PER SHARE - Stock Buyb

EARNINGS PER SHARE - Stock Buyback (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2015	Mar. 31, 2020	Dec. 18, 2019	May 31, 2018
EARNINGS PER SHARE
Authorized amount	$ 150,000
Authorized program period repurchase	30 months
Authorized amount increase			$ 25,100	$ 50,000
Remaining authorized repurchase amount		$ 42,800
Amount paid to repurchase shares		$ 7,248
Number of shares repurchased		170
Average repurchase price per share		$ 42.59

MARKETABLE SECURITIES AND ASS_2

MARKETABLE SECURITIES AND ASSETS MEASURED AT FAIR VALUE (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Certificates of Deposit [Member]
Debt Securities, Available-for-sale [Line Items]
Carrying value	$ 2.5	$ 2.6

ACCOUNTS AND OTHER RECEIVABLE_2

ACCOUNTS AND OTHER RECEIVABLE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables, net	$ 214,360	$ 246,564
Amounts billed, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables, net	197,083	227,528
Unbilled receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables, net	$ 17,277	$ 19,036

ACCOUNTS AND OTHER RECEIVABLE -

ACCOUNTS AND OTHER RECEIVABLE - Expected Credit losses - (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
ACCOUNTS AND OTHER RECEIVABLE
Balances at beginning of period	$ 7,745
Additions	202
Deductions - write-offs, net of recoveries	(706)
Balances at end of period	$ 7,241

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
INVENTORIES
Parts and raw materials	$ 154,573	$ 134,816
Work in process	15,704	10,269
Finished goods	65,022	84,934
Total	$ 235,299	$ 230,019

PROPERTY AND EQUIPMENT - Detail

PROPERTY AND EQUIPMENT - Details of property and equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 183,568	$ 186,255
Less: Accumulated depreciation	(77,976)	(78,146)
Property and equipment, net	105,592	108,109
Buildings and Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,584	1,693
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	105,496	108,945
Computer and Communication Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,111	29,106
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,193	4,119
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	260	262
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	37,341	33,041
Construction in Process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,583	$ 9,089

PROPERTY AND EQUIPMENT - Deprec

PROPERTY AND EQUIPMENT - Depreciation expense recorded in continuing operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
PROPERTY AND EQUIPMENT
Depreciation expense	$ 6,610	$ 2,208

GOODWILL - Schedule of the chan

GOODWILL - Schedule of the changes in goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
GOODWILL AND INTANGIBLE ASSETS
Beginning Balance	$ 202,932
Measurement period adjustments to preliminary purchase price allocation	(421)
Foreign currency translation	(362)
Ending Balance	$ 202,149

INTANGIBLE ASSETS - Schedule of

INTANGIBLE ASSETS - Schedule of intangible assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 218,228	$ 219,251
Finite-Lived Intangible Assets, Accumulated Amortization	(39,749)	(35,240)
Finite-lived intangible assets, net	178,479	184,011
Technology Equipment [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	82,994	83,368
Finite-Lived Intangible Assets, Accumulated Amortization	(16,550)	(14,250)
Finite-lived intangible assets, net	66,444	69,118
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	108,451	108,995
Finite-Lived Intangible Assets, Accumulated Amortization	(19,827)	(18,197)
Finite-lived intangible assets, net	88,624	90,798
Trademarks and other [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	26,783	26,888
Finite-Lived Intangible Assets, Accumulated Amortization	(3,372)	(2,793)
Finite-lived intangible assets, net	$ 23,411	$ 24,095

INTANGIBLE ASSETS - Schedule _2

INTANGIBLE ASSETS - Schedule of amortization expense relating to intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
GOODWILL AND INTANGIBLE ASSETS
Amortization expense	$ 5,006	$ 1,973

INTANGIBLE ASSETS - Schedule _3

INTANGIBLE ASSETS - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
GOODWILL AND INTANGIBLE ASSETS
2020 (remaining)	$ 15,023
2021	19,931
2022	19,666
2023	19,649
2024	16,838
Thereafter	87,372
Finite-lived intangible assets, net	$ 178,479	$ 184,011

RESTRUCTURING COSTS (Details)

RESTRUCTURING COSTS (Details) - USD ($) $ in Thousands	3 Months Ended		27 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 656	$ 1,673	$ 9,933
Severance and related charges
Restructuring Cost and Reserve [Line Items]
Restructuring expense	152	153	7,432
Facility relocation and closure charges
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 504	$ 1,520	$ 2,501

RESTRUCTURING COSTS - Schedule

RESTRUCTURING COSTS - Schedule of Restructuring liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		27 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020
Restructuring Reserve [Roll Forward]
Beginning balance	$ 2,172
Cost incurred and charged to expense	656	$ 1,673	$ 9,933
Cost paid or otherwise settled	(1,295)
Effect of change in exchange rates	(1)
Ending balance	$ 1,532		$ 1,532

WARRANTIES - Changes in Product

WARRANTIES - Changes in Product Warranty Obligation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Balances at beginning of period	$ 6,413	$ 2,084
Increases to accruals	758	519
Warranty expenditures	(856)	(345)
Effect of changes in exchange rates		6
Balances at end of period	$ 6,315	$ 2,264

WARRANTIES - Narrative (Details

WARRANTIES - Narrative (Details)	3 Months Ended
	Mar. 31, 2020
Minimum
Product Liability Contingency [Line Items]
Standard Product Warranty Term	12 months
Maximum
Product Liability Contingency [Line Items]
Standard Product Warranty Term	24 months

LEASES - Components of operatin

LEASES - Components of operating lease cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
LEASES
Operating lease cost	$ 4,834	$ 1,850
Short-term and variable lease cost	1,308	946
Total operating lease costs	$ 6,142	$ 2,796

LEASES - Operating lease maturi

LEASES - Operating lease maturity schedule (Details) $ in Thousands	Mar. 31, 2020USD ($)
LEASES
2020 (remaining)	$ 17,054
2021	20,395
2022	13,981
2023	11,234
2024	10,104
Thereafter	70,826
Total lease payments	143,594
Less: Interest	(30,105)
Present value of lease liabilities	$ 113,489

LEASES - Other lease cost infor

LEASES - Other lease cost information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
LEASES
Cash paid for operating leases	$ 5,574	$ 2,891
Right-of-use assets obtained in exchange for operating lease liabilities	$ 22,208	$ 38,311
Weighted average remaining lease term (in years)	9 years 8 months 12 days	8 years 4 months 24 days
Weighted average discount rate	4.30%	3.80%

PENSION LIABILITY (Details)

PENSION LIABILITY (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Pension liability	$ 66,538	$ 68,359
Payments through April 30, 2024 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions	800
Payments from May 1, 2024 through November 30, 2033 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions	$ 1,700

PENSION LIABILITY - Components

PENSION LIABILITY - Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
PENSION LIABILITY
Service Cost	$ 258
Interest Cost	480	$ 199
Expected return on plan assets	(148)	(170)
Amortization of actuarial gain and losses	116	118
Net periodic pension cost	$ 706	$ 147

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) shares in Millions	3 Months Ended
	Mar. 31, 2020shares
2017 OMNIBUS Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Reserved	2.9
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2
Restricted Stock Units (RSUs) [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs) [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Stock Option Awards [Member]
Share based Compensation Arrangement By Share based Payment Award Options Contractual Term	10 years
Stock Option Awards [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Stock Option Awards [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of stock-based compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
STOCK-BASED COMPENSATION
Stock-based compensation expense	$ 3,048	$ 3,199

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of non-vested Restricted Stock Units activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the beginning of period | shares	534
Granted | shares	293
Vested | shares	(94)
Forfeited | shares	(13)
Outstanding at the end of period | shares	720
Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 56.56
Weighted Average Grant Date Fair Value, Granted | $ / shares	59.32
Weighted Average Grant Date Fair Value, Vested | $ / shares	58.47
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	61.29
Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 57.34

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summary of stock option activity (Details) - Time Based [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period | shares	185
Exercised | shares	(5)
Expired | shares	(2)
Outstanding at ending of period | shares	178
Weighted-Average Exercise Price Per Share, Beginning Balance | $ / shares	$ 21.56
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	15.73
Weighted-Average Exercise Price Per Share, Expired | $ / shares	15.65
Weighted-Average Exercise Price Per Share, End Balance | $ / shares	$ 21.79

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Mar. 31, 2020USD ($)
COMMITMENTS AND CONTINGENCIES
Purchase Commitment, Remaining Minimum Amount Committed	$ 202.3

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020company	Mar. 31, 2019USD ($)company
RELATED PARTY TRANSACTIONS
Sales to related parties | $		$ 352
Number of related party customers | company	1	1

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of related party transactions (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
Accounts receivable from related parties	$ 0	$ 0
Accounts Payable, Related Parties	$ 0	$ 0

SIGNIFICANT CUSTOMER INFORMAT_3

SIGNIFICANT CUSTOMER INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenue, Major Customer [Line Items]
Sales, net	$ 315,456	$ 140,743
Product [Member]
Revenue, Major Customer [Line Items]
Sales, net	289,361	112,112
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Applied Materials, Inc. [Member]
Revenue, Major Customer [Line Items]
Sales, net	$ 50,981	$ 36,290
Concentration Risk, Percentage	16.20%	25.80%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Lam Research [Member]
Revenue, Major Customer [Line Items]
Sales, net	$ 32,996	$ 19,667
Concentration Risk, Percentage	10.50%	14.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Applied Materials, Inc. [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	15.20%		14.90%
Accounts receivable	$ 32,627		$ 36,849

CREDIT FACILITY (Details)

CREDIT FACILITY (Details) - USD ($) $ in Thousands	Apr. 07, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019
Line of Credit Facility [Line Items]
Fair value of long-term debt		$ 334,800
Long-term debt		$ 334,785	$ 339,027
Revolving Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity				$ 500,000
Unused line fee payment percentage		0.10%
Credit availability under the Loan Agreement		$ 150,000
Revolving Facility [Member] | Bank of America N.A. [Member]
Line of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity		$ 150,000
Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity				350,000
Unsecured Revolving Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, borrowing capacity				$ 150,000
Revolving Credit Facility and Term Loan Facility
Line of Credit Facility [Line Items]
Effective rate percentage		1.74%
Subsequent Event [Member] | Interest Rate Swap [Member]
Line of Credit Facility [Line Items]
Derivative, notional amount	$ 286,300
Loan value, percentage	85.00%
Basis points	75
Subsequent Event [Member] | Interest Rate Swap [Member] | Maximum
Line of Credit Facility [Line Items]
Average fixed rate	1.271%
Subsequent Event [Member] | Interest Rate Swap [Member] | Minimum
Line of Credit Facility [Line Items]
Average fixed rate	0.521%

CREDIT FACILITY - Debt obligati

CREDIT FACILITY - Debt obligation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt:
Term Loan Facility	$ 336,875	$ 341,250
Less: debt issuance costs	(2,090)	(2,223)
Total debt	334,785	339,027
Less current portion of long-term debt	(17,500)	(17,500)
Total long-term debt	$ 317,285	$ 321,527

CREDIT FACILITY - Contractual m

CREDIT FACILITY - Contractual maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CREDIT FACILITY
2020 (remaining)	$ 13,125
2021	17,500
2022	17,500
2023	17,500
2024	271,250
Total	$ 336,875	$ 341,250

CREDIT FACILITY - Interest expe

CREDIT FACILITY - Interest expense and unused line of credit fees (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CREDIT FACILITY
Interest expense	$ 2,099
Amortization of debt issuance costs	133
Unused line of credit fees and other	38	$ 56
Total interest expense	$ 2,270	$ 56