Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 17, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'NATIONAL INSTRUMENTS CORP /DE/ | ' | ' |
Entity Central Index Key | '0000935494 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $2,113,947,245 |
Entity Common Stock, Shares Outstanding | ' | 126,033,283 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $230,263 | $161,996 |
Short-term investments | 163,149 | 173,166 |
Accounts receivable, net | 180,680 | 187,060 |
Inventories, net | 172,109 | 169,990 |
Prepaid expenses and other current assets | 49,001 | 48,009 |
Deferred income taxes, net | 33,393 | 27,479 |
Total current assets | 828,595 | 767,700 |
Property and equipment, net | 260,568 | 249,721 |
Goodwill | 146,520 | 147,258 |
Intangible assets, net | 82,310 | 93,913 |
Other long-term assets | 25,558 | 26,177 |
Total assets | 1,343,551 | 1,284,769 |
Current liabilities: | ' | ' |
Accounts payable | 56,614 | 65,080 |
Accrued compensation | 25,189 | 29,978 |
Deferred revenue - current | 96,117 | 90,714 |
Accrued expenses and other liabilities | 17,627 | 34,373 |
Other taxes payable | 29,808 | 24,811 |
Total current liabilities | 225,355 | 244,956 |
Deferred income taxes | 44,620 | 47,630 |
Liability for uncertain tax positions | 23,572 | 20,920 |
Deferred revenue- long term | 21,389 | 20,446 |
Other long-term liabilities | 5,531 | 11,689 |
Total liabilities | 320,467 | 345,641 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock: par value $0.01; 5,000,000 shares authorized; none issued and outstanding | ' | ' |
Common stock: par value $0.01; 360,000,000 and 180,000,000 shares authorized; 125,690,240 and 122,878,690 shares issued and outstanding, respectively | 1,257 | 1,229 |
Additional paid-in capital | 604,330 | 532,845 |
Retained earnings | 414,947 | 404,210 |
Accumulated other comprehensive income | 2,550 | 844 |
Total stockholders' equity | 1,023,084 | 939,128 |
Total liabilities and stockholders' equity | $1,343,551 | $1,284,769 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Balance Sheets [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 360,000,000 | 180,000,000 |
Common stock, shares issued | 125,690,240 | 122,878,690 |
Common stock, shares outstanding | 125,690,240 | 122,878,690 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net sales: | ' | ' | ' |
Product | $1,091,186 | $1,054,849 | $955,613 |
Software maintenance | 81,372 | 87,494 | 81,667 |
GSA accrual | ' | 1,349 | -13,107 |
Total net sales | 1,172,558 | 1,143,692 | 1,024,173 |
Cost of sales: | ' | ' | ' |
Product | 299,854 | 274,839 | 235,839 |
Software maintenance | 5,389 | 5,435 | 5,125 |
Total cost of sales | 305,243 | 280,274 | 240,964 |
Gross profit | 867,315 | 863,418 | 783,209 |
Operating expenses: | ' | ' | ' |
Sales and marketing | 447,800 | 431,468 | 388,768 |
Research and development | 234,796 | 222,994 | 199,071 |
General and administrative | 87,418 | 85,239 | 82,658 |
Acquisition related adjustment | -1,316 | 6,783 | ' |
Total operating expenses | 768,698 | 746,484 | 670,497 |
Operating income | 98,617 | 116,934 | 112,712 |
Other income (expense): | ' | ' | ' |
Interest income | 679 | 716 | 1,319 |
Net foreign exchange loss | -2,578 | -2,246 | -2,755 |
Other income (expense), net | 450 | -567 | -142 |
Income before income taxes | 97,168 | 114,837 | 111,134 |
Provision for income taxes | 16,655 | 24,700 | 17,062 |
Net income | $80,513 | $90,137 | $94,072 |
Basic earnings per share | $0.65 | $0.74 | $0.79 |
Weighted average shares outstanding - basic | 124,558 | 121,973 | 119,836 |
Diluted earnings per share | $0.64 | $0.73 | $0.78 |
Weighted average shares outstanding - diluted | 125,571 | 122,977 | 121,220 |
Dividends declared per share | $0.56 | $0.56 | $0.40 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Consolidated Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $80,513 | $90,137 | $94,072 |
Other comprehensive income, before tax and net of reclassification adjustments: | ' | ' | ' |
Foreign currency translation adjustment | 1,332 | 2,231 | -1,236 |
Unrealized gain (loss) on securities available-for-sale | -538 | 56 | -1,017 |
Unrealized gain (loss) on derivative instruments | 1,238 | 3,152 | -305 |
Other comprehensive income (loss), before tax | 2,032 | 5,439 | -2,558 |
Tax provision related to items of other comprehensive income | -326 | -1,095 | -232 |
Other comprehensive income (loss), net of tax | 1,706 | 4,344 | -2,790 |
Comprehensive income | $82,219 | $94,481 | $91,282 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flow from operating activities: | ' | ' | ' |
Net income | $80,513 | $90,137 | $94,072 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 67,974 | 58,686 | 49,897 |
Stock-based compensation | 28,992 | 27,796 | 23,219 |
Tax expense (benefit) from deferred income taxes | -4,353 | 1,853 | -8,581 |
Tax benefit from stock option plans | -2,407 | -2,198 | -5,151 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accounts receivable | 6,820 | -26,007 | -21,957 |
Inventories | -1,563 | -36,154 | -11,817 |
Prepaid expenses and other assets | -1,767 | -7,037 | -1,350 |
Accounts payable | -8,604 | 23,419 | 5,573 |
Deferred revenue | 6,346 | 21,050 | 16,953 |
Taxes, accrued expenses and other liabilities | -2,472 | -19,029 | 29,041 |
Net cash provided by operating activities | 169,479 | 132,516 | 169,899 |
Cash flow from investing activities: | ' | ' | ' |
Capital expenditures | -47,796 | -89,073 | -54,830 |
Capitalization of internally developed software | -14,883 | -11,721 | -12,065 |
Additions to other intangibles | -5,182 | -1,890 | -5,035 |
Acquisition, net of cash received | ' | -25,481 | -73,558 |
Purchases of short-term investments | -70,354 | -188,098 | -257,449 |
Sales and maturities of short-term investments | 80,371 | 238,436 | 166,104 |
Net cash used in investing activities | -57,844 | -77,827 | -236,833 |
Cash flow from financing activities: | ' | ' | ' |
Proceeds from issuance of common stock | 39,319 | 30,902 | 32,905 |
Deferred acquisition payments | -15,318 | ' | ' |
Dividends paid | -69,776 | -68,401 | -47,961 |
Tax benefit from stock option plans | 2,407 | 2,198 | 5,151 |
Net cash used in financing activities | -43,368 | -35,301 | -9,905 |
Net change in cash and cash equivalents | 68,267 | 19,388 | -76,839 |
Cash and cash equivalents at beginning of period | 161,996 | 142,608 | 219,447 |
Cash and cash equivalents at end of period | 230,263 | 161,996 | 142,608 |
Interest | 110 | 68 | 14 |
Income taxes | $10,510 | $25,059 | $2,393 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Total |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2010 | $1,179 | $407,713 | $336,363 | ($710) | $744,545 |
Balance, Shares at Dec. 31, 2010 | 117,904,975 | ' | ' | ' | ' |
Net income | ' | ' | 94,072 | ' | 94,072 |
Other comprehensive income (loss) | ' | ' | ' | -2,790 | -2,790 |
Issuance of common stock under employee plans, including tax benefits | 27 | 32,878 | ' | ' | 32,905 |
Issuance of common stock under employee plans, including tax benefits, shares | 2,715,253 | ' | ' | ' | ' |
Stock-based compensation | ' | 23,106 | ' | ' | 23,106 |
Business acquisition | 1 | 1,813 | ' | ' | 1,814 |
Business acquisition, shares | 56,915 | ' | ' | ' | ' |
Dividends paid | ' | ' | -47,961 | ' | -47,961 |
Disqualified dispositions | ' | 6,320 | ' | ' | 6,320 |
Balance at Dec. 31, 2011 | 1,207 | 471,830 | 382,474 | -3,500 | 852,011 |
Balance, Shares at Dec. 31, 2011 | 120,677,143 | ' | ' | ' | ' |
Net income | ' | ' | 90,137 | ' | 90,137 |
Other comprehensive income (loss) | ' | ' | ' | 4,344 | 4,344 |
Issuance of common stock under employee plans, including tax benefits | 22 | 30,879 | ' | ' | 30,901 |
Issuance of common stock under employee plans, including tax benefits, shares | 2,201,547 | ' | ' | ' | ' |
Stock-based compensation | ' | 27,679 | ' | ' | 27,679 |
Dividends paid | ' | ' | -68,401 | ' | -68,401 |
Disqualified dispositions | ' | 2,457 | ' | ' | 2,457 |
Balance at Dec. 31, 2012 | 1,229 | 532,845 | 404,210 | 844 | 939,128 |
Balance, Shares at Dec. 31, 2012 | 122,878,690 | ' | ' | ' | 122,878,690 |
Net income | ' | ' | 80,513 | ' | 80,513 |
Other comprehensive income (loss) | ' | ' | ' | 1,706 | 1,706 |
Issuance of common stock under employee plans, including tax benefits | 28 | 39,291 | ' | ' | 39,319 |
Issuance of common stock under employee plans, including tax benefits, shares | 2,811,550 | ' | ' | ' | ' |
Stock-based compensation | ' | 29,151 | ' | ' | 29,151 |
Dividends paid | ' | ' | -69,776 | ' | -69,776 |
Disqualified dispositions | ' | 3,043 | ' | ' | 3,043 |
Balance at Dec. 31, 2013 | $1,257 | $604,330 | $414,947 | $2,550 | $1,023,084 |
Balance, Shares at Dec. 31, 2013 | 125,690,240 | ' | ' | ' | 125,690,240 |
Operations_And_Summary_Of_Sign
Operations And Summary Of Significant Accounting Policies | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | |||||||||
Operations And Summary Of Significant Accounting Policies | ' | |||||||||
Note 1 – Operations and summary of significant accounting policies | ||||||||||
National Instruments Corporation is a Delaware corporation. We provide flexible application software and modular, multifunction hardware that users combine with industry-standard computers, networks and third party devices to create measurement, automation and embedded systems, which we also refer to as “virtual instruments.” Our approach gives customers the ability to quickly and cost-effectively design, prototype and deploy unique custom-defined solutions for their design, control and test application needs. We offer hundreds of products used to create virtual instrumentation systems for general, commercial, industrial and scientific applications. Our products may be used in different environments, and consequently, specific application of our products is determined by the customer and generally is not known to us. We approach all markets with essentially the same products, which are used in a variety of applications from research and development to production testing, monitoring and industrial control. The following industries and applications are served by us worldwide: advanced research, automotive, commercial aerospace, computers and electronics, continuous process manufacturing, education, government/defense, medical research/pharmaceutical, power/energy, semiconductors, automated test equipment, telecommunications and others. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. | ||||||||||
Principles of consolidation | ||||||||||
The Consolidated Financial Statements include the accounts of National Instruments Corporation and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. | ||||||||||
Use of estimates | ||||||||||
The preparation of our financial statements in conformity with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures of contingent assets and liabilities. We base our estimates on past experience and other assumptions that we believe are reasonable under the circumstances, and we evaluate these estimates on an ongoing basis. Our critical accounting policies are those that affect our financial statements materially and involve difficult, subjective or complex judgments by management. Although these estimates are based on management's best knowledge of current events and actions that may impact the company in the future, actual results may be materially different from the estimates. | ||||||||||
Cash and cash equivalents | ||||||||||
Cash and cash equivalents include cash and highly liquid investments with maturities of three months or less at the date of acquisition. | ||||||||||
Short-Term Investments | ||||||||||
We value our available-for-sale short term investments based on pricing from third party pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. We classify all of our fixed income available-for-sale securities as having Level 2 inputs. The valuation techniques used to measure the fair value of our financial instruments having Level 2 inputs were derived from non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models, such as discounted cash flow techniques. We believe these sources reflect the credit risk associated with each of our available for sale short term investments. Short-term investments available-for-sale consists of debt securities issued by states of the U.S. and political subdivisions of the U.S., corporate debt securities and debt securities issued by U.S. government corporations and agencies as well as debt securities issued by foreign governments. All short-term investments available-for-sale have contractual maturities of less than 35 months. | ||||||||||
Our investments are classified as available-for-sale and accordingly are reported at fair value, with unrealized gains and losses reported as other comprehensive income, a component of stockholders’ equity. Unrealized losses are charged against income when a decline in fair value is determined to be other than temporary. Investments with maturities beyond one year are classified as short-term based on their highly liquid nature and because such marketable securities represent the investment of cash that is available for current operations. The fair value of our short-term investments in debt securities at December 31, 2013 and December 31, 2012 was $163 million and $173 million, respectively. The decrease was due to the net sale of $10 million of short-term investments. We have $17 million U.S. dollar equivalent of German government sovereign debt and $16 million U.S. dollar equivalent of corporate bonds that are denominated in Euro at December 31, 2013. Our German government sovereign debt holdings have a maximum remaining maturity of 18 months and carry Aaa/AAA ratings. | ||||||||||
We follow the guidance provided by FASB ASC 320 to assess whether our investments with unrealized loss positions are other than temporarily impaired. Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income (expense), net, in our Consolidated Statements of Income. We did not identify or record any other-than-temporary impairments during 2013, 2012 and 2011. | ||||||||||
Accounts Receivable, net | ||||||||||
Accounts receivable are recorded net of allowances for sales returns of $1.6 million and $2.1 million at December 31, 2013 and 2012, respectively, and net of allowances for doubtful accounts of $2.8 million and $2.8 million at December 31, 2013 and 2012, respectively. A provision for estimated sales returns is made by reducing recorded revenue based on historical experience. We analyze historical returns, current economic trends and changes in customer demand of our products when evaluating the adequacy of our sales returns allowance. Our allowance for doubtful accounts is based on historical experience. We analyze historical bad debts, customer concentrations, customer creditworthiness and current economic trends when evaluating the adequacy of our allowance for doubtful accounts. | ||||||||||
(In thousands) | ||||||||||
Year | Description | Balance at Beginning of Period | Provisions/ | Write-Offs/ | Balance at End of Period | |||||
(Recapture) | (Recapture) | |||||||||
2011 | Allowance for doubtful accounts and sales returns | $ | 3,768 | $ | 385 | $ | -88 | $ | 4,241 | |
2012 | Allowance for doubtful accounts and sales returns | $ | 4,241 | $ | 1,216 | $ | 587 | $ | 4,870 | |
2013 | Allowance for doubtful accounts and sales returns | $ | 4,870 | $ | -43 | $ | 396 | $ | 4,431 | |
Inventories, net | ||||||||||
Inventories are stated at the lower-of-cost or market. Cost is determined using standard costs, which approximate the first-in first-out (“FIFO”) method. Cost includes the acquisition cost of purchased components, parts and subassemblies, in-bound freight costs, labor and overhead. Market is replacement cost with respect to raw materials and is net realizable value with respect to work in process and finished goods. | ||||||||||
Inventory is shown net of adjustment for excess and obsolete inventories of $5.5 million, $3.8 million and $4.2 million at December 31, 2013, 2012 and 2011, respectively. | ||||||||||
(In thousands) | ||||||||||
Year | Description | Balance at Beginning of Period | Provisions | Write-Offs | Balance at End of Period | |||||
2011 | Adjustment for excess and obsolete inventories | $ | 3,340 | $ | 3,554 | $ | 2,689 | $ | 4,205 | |
2012 | Adjustment for excess and obsolete inventories | $ | 4,205 | $ | 1,824 | $ | 2,185 | $ | 3,844 | |
2013 | Adjustment for excess and obsolete inventories | $ | 3,844 | $ | 3,488 | $ | 1,873 | $ | 5,459 | |
Property and equipment, net | ||||||||||
Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from twenty to forty years for buildings, three to seven years for purchased internal use software and for equipment which are each included in furniture and equipment. Leasehold improvements are depreciated over the shorter of the life of the lease or the asset. | ||||||||||
Intangible assets, net | ||||||||||
We capitalize costs related to the development and acquisition of certain software products. Capitalization of costs begins when technological feasibility has been established and ends when the product is available for general release to customers. Technological feasibility for our products is established when the product is available for beta release. Amortization is computed on an individual product basis for those products available for market and is recognized based on the product’s estimated economic life, generally three years. | ||||||||||
We use the services of outside counsel to search for, document, and apply for patents. Those costs, along with any filing or application fees, are capitalized. Costs related to patents which are abandoned are written off. Once a patent is granted, the patent costs are amortized ratably over the legal life of the patent, generally ten to seventeen years. | ||||||||||
At each balance sheet date, the unamortized costs for all intangible assets are reviewed by management and reduced to net realizable value when necessary. | ||||||||||
Goodwill | ||||||||||
The excess purchase price over the fair value of net assets acquired is recorded as goodwill. As we have one operating segment, we allocate goodwill to one reporting unit for goodwill impairment testing. Goodwill is tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist, using a fair-value-based approach based on the market capitalization of the reporting unit. Our annual impairment test was performed as of February 28, 2013. No impairment of goodwill was identified during 2013 and 2012. Goodwill is deductible for tax purposes in certain jurisdictions. | ||||||||||
Concentrations of credit risk | ||||||||||
We maintain cash and cash equivalents with various financial institutions located in many countries throughout the world. At December 31, 2013, $142 million or 62% of our cash and cash equivalents was held in cash in various operating accounts with financial institutions throughout the world, and $88 million or 38% was held in money market accounts. The most significant of our operating accounts was our domestic Wells Fargo operating account which held approximately $15 million or 6% of our total cash and cash equivalents at a bank that carried A+/A2/AA- ratings at December 31, 2013. From a geographic standpoint, approximately $69 million or 30% of our cash was held in various domestic accounts with financial institutions and $161 million or 70% was held in various accounts outside of the U.S. with financial institutions. At December 31, 2013, our short-term investments consist of $17 million or 11% of foreign government bonds, $72 million or 44% of U.S. treasuries and agencies, $71 million or 43% of corporate notes, and $3 million or 2% in time deposits. | ||||||||||
The goal of our investment policy is to manage our investment portfolio to preserve principal and liquidity while maximizing the return on our investment portfolio through the full investment of available funds. We place our cash investments in instruments that meet credit quality standards, as specified in our corporate investment policy guidelines. These guidelines also limit the amount of credit exposure to any one issue, issuer or type of instrument. Our cash equivalents and short-term investments carried ratings from the major credit rating agencies that were in accordance with our corporate investment policy. Our investment policy allows investments in the following: government and federal agency obligations, repurchase agreements (“Repos”), certificates of deposit and time deposits, corporate obligations, medium term notes and deposit notes, commercial paper including asset-backed commercial paper (“ABCP”), puttable bonds, general obligation and revenue bonds, money market funds, taxable commercial paper, corporate notes/bonds, municipal notes, municipal obligations, variable rate demand notes and tax exempt commercial paper. All such instruments must carry minimum ratings of A1/P1/F1, MIG1/VMIG1/SP1 and A2/A/A, as applicable, all of which are considered “investment grade”. Our investment policy for marketable securities requires that all securities mature in three years or less, with a weighted average maturity of no longer than 18 months with at least 10% maturing in 90 days or less. (See Note 2 – Cash, cash equivalents, short-term and long-term investments in Notes to Consolidated Financial Statements for further discussion and analysis of our investments). | ||||||||||
Concentration of credit risk with respect to trade accounts receivable is limited due to our large number of customers and their dispersion across many countries and industries. The amount of sales to any individual customer did not exceed 3%, 7%, or 4% of revenue for the years ended December 31, 2013, 2012, or 2011, respectively. The largest trade account receivable from any individual customer at December 31, 2013 was approximately $6.1 million. | ||||||||||
Key supplier risk | ||||||||||
Our manufacturing processes use large volumes of high-quality components and subassemblies supplied by outside sources. Several of these components are available through sole or limited sources. Supply shortages or quality problems in connection with some of these key components could require us to procure components from replacement suppliers, which would cause significant delays in fulfillment of orders and likely result in additional costs. In order to manage this risk, we maintain safety stock of some of these single sourced components and subassemblies and perform regular assessments of suppliers performance, grading key suppliers in critical areas such as quality and “on-time” delivery. | ||||||||||
Revenue recognition | ||||||||||
We sell test and measurement solutions that include hardware, software licenses, and related services. Our sales are generally made under standard sales arrangements with payment terms ranging from net 30 days in the United States to net 30 days and up to net 120 days in some international markets. We offer rights of return and standard warranties for product defects related to our products. The rights of return are generally for a period of up to 30 days after the delivery date. Our standard warranties cover periods ranging from 90 days to three years. Our standard sales arrangements do not require product acceptance from the customer. | ||||||||||
In recent years, we have made a concentrated effort to increase our revenue through the pursuit of orders with a value greater than $1.0 million. These orders often include contract terms that vary substantially from our standard terms of sale including product acceptance requirements and product performance evaluations which create uncertainty with respect to the timing of our ability to recognize revenue from such orders. These orders may also include most-favored customer pricing, significant discounts, extended payment terms and volume rebates, all of which may create uncertainty with respect to the amount and timing of revenue recognized from such orders. | ||||||||||
Sales of application software licenses include post-contract support services. Other services include customer training, customer support, and extended warranties. | ||||||||||
We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. Delivery is considered to have occurred when title and risk of loss have transferred to the customer. For most of our hardware and software sales, title and risk of loss transfer upon delivery. For services we recognize revenue when the service is provided, except for extended warranties for which revenue is recognized ratably over the warranty period. | ||||||||||
We enter into certain arrangements in which we deliver multiple products and/or services. These arrangements may include hardware, software, and services. We separate consideration in multiple-deliverable arrangements by allocating to all deliverables using the relative selling price method at the inception of an arrangement. Revenue allocated to each element is then recognized when the basic revenue recognition criteria for that element have been met. The relative selling price method allocates any discount in the arrangement proportionally to each deliverable on the basis of each deliverable’s selling price. The selling price used for each deliverable will be based on vendor-specific objective evidence (“VSOE”) if available, third–party evidence if VSOE is not available, or estimated selling price if neither VSOE nor third-party evidence is available. | ||||||||||
Software revenue recognition rules are applied to software sold on a stand-alone basis, and to software sold as part of a multiple element arrangement with hardware where the software is not required to deliver the tangible product's essential functionality. Under these rules, when VSOE of fair value is not available for a delivered element but is available for the undelivered element of a multiple element arrangement, sales revenue is recognized on the date the product is shipped, using the residual method, with the portion deferred that is related to undelivered elements. Undelivered elements related to software are generally restricted to post contract support and training and education. The amount of revenue allocated to these undelivered elements is based on the VSOE of fair value for those undelivered elements. Deferred revenue due to undelivered elements is recognized ratably over the service period or when the service is completed. When VSOE of fair value is not available for the undelivered element of a multiple element arrangement, sales revenue for the entire sales contract value is generally recognized ratably over the service period of the undelivered element, generally 12 months or when the service is completed in accordance with the subscription method. | ||||||||||
The application of revenue recognition standards requires judgment, including whether a software arrangement includes multiple elements, and if so, whether VSOE of fair value exists for those elements. Changes to the elements in a software arrangement, the ability to identify VSOE for those elements, the fair value of the respective elements, and changes to a product’s estimated life cycle could materially impact the amount of our earned and unearned revenue. Judgment is also required to assess whether future releases of certain software represent new products or upgrades and enhancements to existing products. | ||||||||||
Product revenue | ||||||||||
Our product revenue is generated predominantly from the sales of measurement and automation products. Our products consist of application software and hardware components together with related driver software. | ||||||||||
Software maintenance revenue | ||||||||||
Software maintenance revenue is post contract customer support that provides the customer with unspecified upgrades/updates and technical support. | ||||||||||
Shipping and handling costs | ||||||||||
Our shipping and handling costs charged to customers are included in net sales, and the associated expense is recorded in cost of sales. | ||||||||||
Warranty reserve | ||||||||||
We offer a one-year limited warranty on most hardware products and extended two or three-year warranties on a subset of our hardware products, which is included in the sales price of many of our products. Provision is made for estimated future warranty costs at the time of the sale for the estimated costs that may be incurred under the basic limited warranty. Our estimate is based on historical experience and product sales. | ||||||||||
The warranty reserve for the years ended December 31, 2013, 2012 and 2011 was as follows: | ||||||||||
(In thousands) | ||||||||||
2013 | 2012 | 2011 | ||||||||
Balance at the beginning of the period | $ | 1,435 | $ | 1,271 | $ | 921 | ||||
Accruals for warranties issued during the period | 3,737 | 2,270 | 2,954 | |||||||
Settlements made (in cash or in kind) during the period | -3,408 | -2,106 | -2,604 | |||||||
Balance at the end of the period | $ | 1,764 | $ | 1,435 | $ | 1,271 | ||||
Loss contingencies | ||||||||||
We accrue for probable losses from contingencies including legal defense costs, on an undiscounted basis, when such costs are considered probable of being incurred and are reasonably estimable. We periodically evaluate available information, both internal and external, relative to such contingencies and adjust this accrual as necessary. | ||||||||||
Advertising expense | ||||||||||
We expense costs of advertising as incurred. Advertising expense for the years ended December 31, 2013, 2012 and 2011 was $13.7 million, $14.4 million and $14.7 million, respectively. | ||||||||||
Foreign currency translation | ||||||||||
The functional currency for our international sales operations is the applicable local currency. The assets and liabilities of these operations are translated at the rate of exchange in effect on the balance sheet date and sales and expenses are translated at average rates. The resulting gains or losses from translation are included in a separate component of other comprehensive income. Gains and losses resulting from re-measuring monetary asset and liability accounts that are denominated in a currency other than a subsidiary’s functional currency are included in net foreign exchange loss and are included in net income. | ||||||||||
Foreign currency hedging instruments | ||||||||||
All of our derivative instruments are recognized on the balance sheet at their fair value. We currently use foreign currency forward and purchased option contracts to hedge our exposure to material foreign currency denominated receivables and forecasted foreign currency cash flows. | ||||||||||
On the date the derivative contract is entered into, we designate the derivative as a hedge of the variability of foreign currency cash flows to be received or paid (“cash flow” hedge) or as a hedge of our foreign denominated net receivable positions (“other derivatives”). Changes in the fair value of derivatives that are designated and qualify as cash flow hedges and that are deemed to be highly effective are recorded in other comprehensive income. These amounts are subsequently reclassified into earnings in the period during which the hedged transaction is realized. The gain or loss on the other derivatives as well as the offsetting gain or loss on the hedged item attributable to the hedged risk is recognized in current earnings under the line item “Net foreign exchange loss”. We do not enter into derivative contracts for speculative purposes. | ||||||||||
We formally document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking various hedge transactions at the inception of the hedge. This process includes linking all derivatives that are designated as cash flow hedges to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the hedging instruments are highly effective in offsetting changes in cash flows of hedged items. | ||||||||||
We prospectively discontinue hedge accounting if (1) it is determined that the derivative is no longer highly effective in offsetting changes in the fair value of a hedged item (forecasted transactions); or (2) the derivative is de-designated as a hedge instrument, because it is unlikely that a forecasted transaction will occur. When hedge accounting is discontinued, the derivative is sold and the resulting gains and losses are recognized immediately in earnings. | ||||||||||
Income taxes | ||||||||||
We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax basis of assets and liabilities and their reported amounts. Valuation allowances are established when necessary to reduce deferred tax assets to amounts which are more likely than not to be realized. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. Variations in the actual outcome of these future tax consequences could materially impact our financial position or our results of operations. In estimating future tax consequences, all expected future events are considered other than enactments of changes in tax laws or rates. We account for uncertainty in income taxes recognized in our financial statements using prescribed recognition thresholds and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on our tax returns. Our continuing policy is to recognize interest and penalties related to income tax matters in income tax expense. | ||||||||||
Earnings per share | ||||||||||
Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options and restricted stock units (“RSUs”), is computed using the treasury stock method. | ||||||||||
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the years ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||
Years ended December 31, | ||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||
Weighted average shares outstanding-basic | 124,558 | 121,973 | 119,836 | |||||||
Plus: Common share equivalents | ||||||||||
Stock options, restricted stock units | 1,013 | 1,004 | 1,384 | |||||||
Weighted average shares outstanding-diluted | 125,571 | 122,977 | 121,220 | |||||||
Stock awards to acquire 43,640 shares, 986,503 shares, and 477,019 shares for the years ended December 31, 2013, 2012, and 2011 were excluded in the computations of diluted EPS because the effect of including the stock awards would have been anti-dilutive. | ||||||||||
On January 21, 2011, our Board of Directors declared a 3 for 2 stock split which was effected as a stock dividend, and paid on February 21, 2011, to stockholders of record on February 4, 2011. All per share data and numbers of common shares, where appropriate, have been retroactively adjusted to reflect the stock split. | ||||||||||
Stock-based compensation | ||||||||||
We account for stock-based compensation plans, which are more fully described in Note 11 – Authorized shares of common and preferred stock and stock-based compensation plans, using a fair-value method and recognize the expense in our Consolidated Statement of Income. | ||||||||||
Comprehensive income | ||||||||||
Our comprehensive income is comprised of net income, foreign currency translation and unrealized gains and losses on forward and option contracts and securities available-for-sale. Comprehensive income for 2013, 2012 and 2011 was $82.2 million, $94.5 million and $91.3 million, respectively. | ||||||||||
Recently Issued Accounting Pronouncements | ||||||||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income, which amends ASC 220, Comprehensive Income. The amended guidance requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. Additionally, entities are required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The amended guidance does not change the current requirements for reporting net income or other comprehensive income. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. We adopted this update in the first quarter of 2013. The adoption of ASU No. 2013-02 did not have a significant impact on the Company’s consolidated financial statements, but did amend the disclosures for accumulated other comprehensive income reclassified into income. | ||||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which amends ASC 740, Income Taxes. The amendments provide guidance on the financial statement presentation of an unrecognized tax benefit, as either a reduction of a deferred tax asset or as a liability, when a net operating loss carryforward, similar tax loss, or a tax credit carryforward exists. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 and may be applied on either a prospective or retrospective basis. The provisions are effective for the Company’s Form 10-K for the year ending December 31, 2014. We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements. | ||||||||||
Cash_Cash_Equivalents_And_Shor
Cash, Cash Equivalents And Short-Term Investments | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Cash, Cash Equivalents And Short-Term Investments [Abstract] | ' | ||||||||||
Cash, Cash Equivalents And Short-Term Investments | ' | ||||||||||
Note 2 – Cash, cash equivalents and short-term investments | |||||||||||
The following tables summarize unrealized gains and losses related to our cash, cash equivalents, and short-term investments designated as available-for-sale: | |||||||||||
(In thousands) | As of December 31, 2013 | ||||||||||
Gross | Gross | Cumulative | |||||||||
Adjusted Cost | Unrealized Gain | Unrealized Loss | Translation Adjustment | Fair Value | |||||||
Cash | $ | 142,058 | $ | - | $ | - | $ | - | $ | 142,058 | |
Money Market Accounts | 88,205 | - | - | - | 88,205 | ||||||
Municipal bonds | - | - | - | - | - | ||||||
Corporate bonds | 71,964 | 16 | -146 | -1,218 | 70,616 | ||||||
U.S. treasuries and agencies | 72,459 | 26 | - | - | 72,485 | ||||||
Foreign government bonds | 18,409 | - | -7 | -1,266 | 17,136 | ||||||
Time deposits | 2,912 | - | - | - | 2,912 | ||||||
Cash, cash equivalents, and short-term investments | $ | 396,007 | $ | 42 | $ | -153 | $ | -2,484 | $ | 393,412 | |
(In thousands) | As of December 31, 2012 | ||||||||||
Gross | Gross | Cumulative | |||||||||
Adjusted Cost | Unrealized Gain | Unrealized Loss | Translation Adjustment | Fair Value | |||||||
Cash | $ | 141,340 | $ | - | $ | - | $ | - | $ | 141,340 | |
Money Market Accounts | 20,656 | - | - | - | 20,656 | ||||||
Municipal bonds | 1,465 | 1 | - | - | 1,466 | ||||||
Corporate bonds | 8,708 | - | -20 | -910 | 7,778 | ||||||
U.S. treasuries and agencies | 135,953 | - | -28 | - | 135,925 | ||||||
Foreign government bonds | 27,947 | 57 | - | -2,919 | 25,085 | ||||||
Time deposits | 2,912 | - | - | - | 2,912 | ||||||
Cash, cash equivalents, and short-term investments | $ | 338,981 | $ | 58 | $ | -48 | $ | -3,829 | $ | 335,162 | |
The following tables summarize the contractual maturities of our short-term investments designated as available-for-sale: | |||||||||||
(In thousands) | As of December 31, 2013 | ||||||||||
Adjusted Cost | Fair Value | ||||||||||
Due in less than 1 year | $ | 93,472 | $ | 92,256 | |||||||
Due in 1 to 5 years | 72,272 | 70,893 | |||||||||
Total available-for-sale debt securities | $ | 165,744 | $ | 163,149 | |||||||
Due in less than 1 year | Adjusted Cost | Fair Value | |||||||||
Corporate bonds | $ | 8,537 | $ | 7,956 | |||||||
U.S. treasuries and agencies | 72,459 | 72,485 | |||||||||
Foreign government bonds | 9,564 | 8,903 | |||||||||
Time deposits | 2,912 | 2,912 | |||||||||
Total available-for-sale debt securities | $ | 93,472 | $ | 92,256 | |||||||
Due in 1 to 5 years | Adjusted Cost | Fair Value | |||||||||
Corporate bonds | 63,427 | 62,660 | |||||||||
U.S. treasuries and agencies | - | - | |||||||||
Foreign government bonds | 8,845 | 8,233 | |||||||||
Total available-for-sale debt securities | $ | 72,272 | $ | 70,893 | |||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Fair Value Measurements [Abstract] | ' | ||||||||
Fair Value Measurements | ' | ||||||||
Note 3 – Fair value measurements | |||||||||
We define fair value to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market that market participants may use when pricing the asset or liability. | |||||||||
We follow a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value measurement is determined based on the lowest level input that is significant to the fair value measurement. The three values of the fair value hierarchy are the following: | |||||||||
Level 1 – Quoted prices in active markets for identical assets or liabilities | |||||||||
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly | |||||||||
Level 3 – Inputs that are not based on observable market data | |||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below: | |||||||||
(In thousands) | Fair Value Measurements at Reporting Date Using | ||||||||
Description | 31-Dec-13 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||
Assets | |||||||||
Cash and cash equivalents available for sale: | |||||||||
Money Market Funds | $ | 88,205 | $ | 88,205 | $ | - | $ | - | |
Short-term investments available for sale: | |||||||||
Municipal bonds | - | - | - | - | |||||
Corporate bonds | 70,616 | - | 70,616 | - | |||||
U.S. treasuries and agencies | 72,485 | - | 72,485 | - | |||||
Foreign government bonds | 17,136 | - | 17,136 | - | |||||
Time deposits | 2,912 | 2,912 | - | - | |||||
Derivatives | 6,908 | - | 6,908 | - | |||||
Total Assets | $ | 258,262 | $ | 91,117 | $ | 167,145 | $ | - | |
Liabilities | |||||||||
Derivatives | $ | -4,742 | $ | - | $ | -4,742 | $ | - | |
Total Liabilities | $ | -4,742 | $ | - | $ | -4,742 | $ | - | |
(In thousands) | Fair Value Measurements at Reporting Date Using | ||||||||
Description | 31-Dec-12 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||
Assets | |||||||||
Cash and cash equivalents available for sale: | |||||||||
Money Market Funds | $ | 20,656 | $ | 20,656 | $ | - | $ | - | |
Short-term investments available for sale: | |||||||||
Municipal bonds | 1,466 | - | 1,466 | - | |||||
Corporate bonds | 7,778 | - | 7,778 | - | |||||
U.S. treasuries and agencies | 135,925 | - | 135,925 | - | |||||
Foreign government bonds | 25,085 | - | 25,085 | - | |||||
Time deposits | 2,912 | 2,912 | - | - | |||||
Derivatives | 4,246 | - | 4,246 | - | |||||
Total Assets | $ | 198,068 | $ | 23,568 | $ | 174,500 | $ | - | |
Liabilities | |||||||||
Derivatives | $ | -2,804 | $ | - | $ | -2,804 | $ | - | |
Total Liabilities | $ | -2,804 | $ | - | $ | -2,804 | $ | - | |
We value our available-for-sale short-term investments based on pricing from third party pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. We classify all of our fixed income available-for-sale securities as having Level 2 inputs. The valuation techniques used to measure the fair value of our financial instruments having Level 2 inputs were derived from non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models, such as discounted cash flow techniques. We believe all of these sources reflect the credit risk associated with each of our available-for-sale short-term investments. Short-term investments available-for-sale consists of debt securities issued by states of the U.S. and political subdivisions of the U.S., corporate debt securities and debt securities issued by U.S. government organizations and agencies as well as debt securities issued by foreign governments. All short-term investments available-for-sale have contractual maturities of less than 35 months. | |||||||||
Derivatives include foreign currency forward and option contracts. Our foreign currency forward contracts are valued using an income approach (Level 2) based on the spot rate less the contract rate multiplied by the notional amount. Our foreign currency option contracts are valued using a market approach based on the quoted market prices which are derived from observable inputs including current and future spot rates, interest rate spreads as well as quoted market prices of similar instruments. We consider counterparty credit risk in the valuation of our derivatives. However, counterparty credit risk did not impact the valuation of our derivatives during the year ended December 31, 2013. There were not any transfers in or out of Level 1 or Level 2 in the year ended December 31, 2013. | |||||||||
Our foreign government bonds consist of German government sovereign debt denominated in Euro with maximum remaining maturities of 18 months. Our short-term investments do not involve sovereign debt from any other country in Europe. | |||||||||
We did not have any items that were measured at fair value on a nonrecurring basis at December 31, 2013 and December 31, 2012. | |||||||||
The carrying value of net accounts receivable and accounts payable contained in the Consolidated Balance Sheets approximates fair value. | |||||||||
Derivative_Instruments_And_Hed
Derivative Instruments And Hedging Activities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Derivative Instruments And Hedging Activities [Abstract] | ' | ||||||||
Derivative Instruments And Hedging Activities | ' | ||||||||
Note 4 – Derivative instruments and hedging activities | |||||||||
We recognize all of our derivative instruments as either assets or liabilities in our statement of financial position at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, we designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. | |||||||||
We have operations in over 50 countries. Sales outside of the Americas accounted for approximately 59%, 60%, and 60% of our revenues during the years ended December 31, 201, 2012 and 2011, respectively. Our activities expose us to a variety of market risks, including the effects of changes in foreign currency exchange rates. These financial risks are monitored and managed by us as an integral part of our overall risk management program. | |||||||||
We maintain a foreign currency risk management strategy that uses derivative instruments (foreign currency forward and purchased option contracts) to help protect our earnings and cash flows from fluctuations caused by the volatility in currency exchange rates. Movements in foreign currency exchange rates pose a risk to our operations and competitive position, since exchange rate changes may affect our profitability and cash flow, and the business or pricing strategies of our non-U.S. based competitors. | |||||||||
The vast majority of our foreign sales are denominated in the customers’ local currency. We purchase foreign currency forward and option contracts as hedges of forecasted sales that are denominated in foreign currencies and as hedges of foreign currency denominated receivables. These contracts are entered into to help protect against the risk that the eventual dollar-net-cash inflows resulting from such sales or firm commitments will be adversely affected by changes in exchange rates. We also purchase foreign currency forward contracts as hedges of forecasted expenses that are denominated in foreign currencies. These contracts are entered into to help protect against the risk that the eventual dollar-net-cash outflows resulting from foreign currency operating and cost of revenue expenses will be adversely affected by changes in exchange rates. | |||||||||
We designate foreign currency forward and purchased option contracts as cash flow hedges of forecasted revenues or forecasted expenses. In addition, we hedge our foreign currency denominated balance sheet exposures using foreign currency forward contracts that are not designated as hedging instruments. None of our derivative instruments contain a credit-risk-related contingent feature. | |||||||||
Cash flow hedges | |||||||||
To help protect against the reduction in value caused by a fluctuation in foreign currency exchange rates of forecasted foreign currency cash flows resulting from international sales over the next one to three years, we have instituted a foreign currency cash flow hedging program. We hedge portions of our forecasted revenue and forecasted expenses denominated in foreign currencies with forward and purchased option contracts. For forward contracts, when the dollar strengthens significantly against the foreign currencies, the change in the present value of future foreign currency cash flows may be offset by the change in the fair value of the forward contracts designated as hedges. For option contracts, when the dollar strengthens significantly against the foreign currencies, the change in the present value of future foreign currency cash flows may be offset by the change in the fair value of the option contracts net of the premium paid designated as hedges. Our foreign currency purchased option contracts are purchased “at-the-money” or “out-of-the-money”. We purchase foreign currency forward and option contracts for up to 100% of our forecasted exposures in selected currencies (primarily in Euro, Japanese yen, Malaysian ringgit, British pound and Hungarian forint) and limit the duration of these contracts to 40 months or less. | |||||||||
For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive income (“OCI”) and reclassified into earnings in the same line item (net sales, operating expenses, or cost of sales) associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings or expenses during the current period and are classified as a component of “net foreign exchange loss”. Hedge effectiveness of foreign currency forwards and purchased option contracts designated as cash flow hedges are measured by comparing the hedging instrument’s cumulative change in fair value from inception to maturity to the forecasted transaction’s terminal value. | |||||||||
We held forward contracts with the following notional amounts: | |||||||||
(In thousands) | US Dollar Equivalent | ||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||
Euro | $ | 75,886 | $ | 84,770 | |||||
Japanese yen | 23,284 | 42,209 | |||||||
Hungarian forint | 21,159 | 36,005 | |||||||
British pound | 14,869 | - | |||||||
Malaysian ringgit | 4,426 | - | |||||||
Total forward contracts notional amount | $ | 139,624 | $ | 162,984 | |||||
The contracts in the foregoing table had contractual maturities of 36 months or less at December 31, 2013 and December 31, 2012. | |||||||||
At December 31, 2013, we expect to reclassify $157,000 of gains on derivative instruments from accumulated OCI to net sales during the next twelve months when the hedged international sales occur, $910,000 of gains on derivative instruments from accumulated OCI to cost of sales when the cost of sales are incurred and $409,000 of gains on derivative instruments from accumulated OCI to operating expenses during the next twelve months when the hedged operating expenses occur. Expected amounts are based on derivative valuations at December 31, 2013. Actual results may vary as a result of changes in the corresponding exchange rates subsequent to this date. | |||||||||
We did not record any ineffectiveness from our hedges during the years ended December 31, 2013 and 2012. | |||||||||
Other Derivatives | |||||||||
Other derivatives not designated as hedging instruments consist primarily of foreign currency forward contracts that we use to hedge our foreign denominated net receivable or net payable positions to protect against the change in value caused by a fluctuation in foreign currency exchange rates. We typically attempt to hedge up to 90% of our outstanding foreign denominated net receivables or net payables and typically limit the duration of these foreign currency forward contracts to approximately 120 days. The gain or loss on the derivatives as well as the offsetting gain or loss on the hedge item attributable to the hedged risk is recognized in current earnings under the line item “net foreign exchange loss”. As of December 31, 2013 and December 31, 2012, we held foreign currency forward contracts with a notional amount of $70 million and $69 million, respectively. | |||||||||
The following tables present the fair value of derivative instruments on our Consolidated Balance Sheets and the effect of derivative instruments on our Consolidated Statements of Income. | |||||||||
Fair Values of Derivative Instruments: | |||||||||
Asset Derivatives | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
(In thousands) | |||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
Derivatives designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Prepaid expenses and other current assets | $ | 4,825 | Prepaid expenses and other current assets | $ | 2,956 | |||
Foreign exchange contracts - LT forwards | Other long-term assets | 1,719 | Other long-term assets | 1,046 | |||||
Total derivatives designated as hedging instruments | $ | 6,544 | $ | 4,002 | |||||
Derivatives not designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Prepaid expenses and other current assets | $ | 364 | Prepaid expenses and other current assets | $ | 244 | |||
Total derivatives not designated as hedging instruments | $ | 364 | $ | 244 | |||||
Total derivatives | $ | 6,908 | $ | 4,246 | |||||
Liability Derivatives | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
(In thousands) | |||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
Derivatives designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Accrued expenses and other liabilities | $ | -3,350 | Accrued expenses and other liabilities | $ | -1,292 | |||
Foreign exchange contracts - LT forwards | Other long-term liabilities | - | Other long-term liabilities | -798 | |||||
Total derivatives designated as hedging instruments | $ | -3,350 | $ | -2,090 | |||||
Derivatives not designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Accrued expenses and other liabilities | $ | -1,392 | Accrued expenses and other liabilities | $ | -714 | |||
Total derivatives not designated as hedging instruments | $ | -1,392 | $ | -714 | |||||
Total derivatives | $ | -4,742 | $ | -2,804 | |||||
The following tables present the effect of derivative instruments on our Consolidated Statements of Income for the years ended December 31, 2013 and 2012, respectively: | |||||||||
31-Dec-13 | |||||||||
(In thousands) | |||||||||
Derivatives in Cash Flow Hedging Relationship | Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | ||||
Foreign exchange contracts - forwards and options | $ | -178 | Net sales | $ | 3,173 | Net foreign exchange gain (loss) | $ | - | |
Foreign exchange contracts - forwards and options | 985 | Cost of sales | 118 | Net foreign exchange gain (loss) | - | ||||
Foreign exchange contracts - forwards and options | 431 | Operating expenses | 87 | Net foreign exchange gain (loss) | - | ||||
Total | $ | 1,238 | $ | 3,378 | $ | - | |||
31-Dec-12 | |||||||||
(In thousands) | |||||||||
Derivatives in Cash Flow Hedging Relationship | Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | ||||
Foreign exchange contracts - forwards and options | $ | 30 | Net sales | $ | 2,852 | Net foreign exchange gain (loss) | $ | - | |
Foreign exchange contracts - forwards and options | 2,036 | Cost of sales | 402 | Net foreign exchange gain (loss) | - | ||||
Foreign exchange contracts - forwards and options | 1,086 | Operating expenses | 259 | Net foreign exchange gain (loss) | - | ||||
Total | $ | 3,152 | $ | 3,513 | $ | - | |||
(In thousands) | |||||||||
Derivatives not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income | Amount of Gain (Loss) Recognized in Income | Amount of Gain (Loss) Recognized in Income | ||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Foreign exchange contracts - forwards | Net foreign exchange (loss)/gain | $ | -267 | $ | -2,076 | ||||
Total | $ | -267 | $ | -2,076 | |||||
Gains or losses recognized in OCI on the effective portion of our derivatives are reported net of gains or losses reclassified from accumulated OCI into income. | |||||||||
Inventories
Inventories | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Inventories [Abstract] | ' | ||||
Inventories | ' | ||||
Note 5 – Inventories | |||||
Inventories, net consist of the following: | |||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | |||
Raw materials | $ | 81,574 | $ | 78,244 | |
Work-in-process | 4,958 | 8,566 | |||
Finished goods | 85,577 | 83,180 | |||
$ | 172,109 | $ | 169,990 | ||
Property_And_Equipment
Property And Equipment | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Property And Equipment [Abstract] | ' | ||||
Property And Equipment | ' | ||||
Note 6 – Property and equipment | |||||
Property and equipment at December 31, 2013 and December 31, 2012, consist of the following: | |||||
December 31, | December 31, | ||||
(In thousands) | 2013 | 2012 | |||
Land | $ | 32,959 | $ | 27,751 | |
Buildings | 206,674 | 203,879 | |||
Furniture and equipment | 272,795 | 240,413 | |||
512,428 | 472,043 | ||||
Accumulated depreciation | -251,860 | -222,322 | |||
$ | 260,568 | $ | 249,721 | ||
Depreciation expense for the years ended December 31, 2013, 2012 and 2011, was $36 million, $31 million and $25 million, respectively. | |||||
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Intangible Assets [Abstract] | ' | ||||||||||||
Intangible Assets | ' | ||||||||||||
Note 7 – Intangible assets | |||||||||||||
Intangible assets at December 31, 2013 and December 31, 2012 are as follows: | |||||||||||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||
Capitalized software development costs | $ | 48,947 | $ | -25,706 | $ | 23,241 | $ | 45,064 | $ | -23,450 | $ | 21,614 | |
Acquired technology | 89,446 | -54,253 | 35,193 | 89,876 | -42,562 | 47,314 | |||||||
Patents | 26,070 | -11,045 | 15,025 | 24,046 | -9,398 | 14,648 | |||||||
Other | 28,517 | -19,666 | 8,851 | 27,421 | -17,084 | 10,337 | |||||||
$ | 192,980 | $ | -110,670 | $ | 82,310 | $ | 186,407 | $ | -92,494 | $ | 93,913 | ||
Software development costs capitalized during 2013, 2012, and 2011 were $15.6 million, $12.2 million, and $12.6 million, respectively, and related amortization expense was $14.0 million, $14.1 million, and $13.4 million, respectively. Capitalized software development costs for the years ended December 31, 2013, 2012, and 2011 included costs related to stock based compensation of $742,000, $519,000 and $539,000, respectively. The related amounts in the table above are net of fully amortized assets. | |||||||||||||
Amortization of capitalized software development costs is computed on an individual product basis for those products available for market and is recognized based on the product’s estimated economic life, generally three years. Acquired technology and other intangible assets are amortized over their useful lives, which range from three to eight years. Patents are amortized using the straight-line method over their estimated period of benefit, generally 10 to 17 years. Total intangible assets amortization expenses were $32 million, $28 million, and $25 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
Capitalized software development costs, acquired technology, patents and other had weighted-average useful lives of 1.8 years, 2.1 years, 4.0 years, and 2.3 years, respectively, as of December 31, 2013. The estimated future amortization expense related to intangible assets as of December 31, 2013 was as follows: | |||||||||||||
Amount | |||||||||||||
(In thousands) | |||||||||||||
2014 | $ | 32,972 | |||||||||||
2015 | 23,050 | ||||||||||||
2016 | 12,580 | ||||||||||||
2017 | 5,521 | ||||||||||||
2018 | 785 | ||||||||||||
Thereafter | 7,402 | ||||||||||||
$ | 82,310 | ||||||||||||
The overall increase in our acquired technology and other intangible assets can be attributed to our acquisitions in 2012. See Note 17 – Acquisitions of Notes to Consolidated Financial Statements for additional discussion related to these acquisitions. | |||||||||||||
Goodwill
Goodwill | 12 Months Ended | ||
Dec. 31, 2013 | |||
Goodwill [Abstract] | ' | ||
Goodwill | ' | ||
Note 8 – Goodwill | |||
The carrying amounts of goodwill for 2012 and 2013 are as follows: | |||
Amount | |||
(In thousands) | |||
Balance as of December 31, 2011 | $ | 130,747 | |
Purchase price adjustments | -1,623 | ||
Acquisitions | 17,987 | ||
Foreign currency translation impact | 147 | ||
Balance as of December 31, 2012 | $ | 147,258 | |
Purchase price adjustments | -1,463 | ||
Foreign currency translation impact | 725 | ||
Balance as of December 31, 2013 | $ | 146,520 | |
The excess purchase price over the fair value of assets acquired is recorded as goodwill. During 2013, we adjusted the purchase price for one of our 2012 acquisitions, which resulted in the reduction of goodwill by $1.5 million. As we have one operating segment, we allocate goodwill to one reporting unit for goodwill impairment testing. Goodwill is tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist, using a fair-value-based approach based on the market capitalization of the reporting unit. Our annual impairment test was performed as of February 28, 2013. No impairment of goodwill was identified during 2013 and 2012. Goodwill is deductible for tax purposes in certain jurisdictions. | |||
See Note 17 – Acquisitions of Notes to Consolidated Financial Statements for additional discussion related to acquisitions in 2011 and 2012. | |||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Income Taxes [Abstract] | ' | ||||||
Income Taxes | ' | ||||||
Note 9 – Income taxes | |||||||
The components of income before income taxes are as follows: | |||||||
(In thousands) | Years Ended December 31, | ||||||
2013 | 2012 | 2011 | |||||
Domestic | $ | 41,315 | $ | 24,100 | $ | 6,488 | |
Foreign | 55,853 | 90,737 | 104,646 | ||||
$ | 97,168 | $ | 114,837 | $ | 111,134 | ||
The provision for income taxes charged to operations is as follows: | |||||||
(In thousands) | Years Ended December 31, | ||||||
2013 | 2012 | 2011 | |||||
Current tax expense: | |||||||
U.S. federal | $ | 27,161 | $ | 24,538 | $ | 19,381 | |
State | 813 | 1,217 | 1,180 | ||||
Foreign | 4,917 | 10,544 | 8,568 | ||||
Total current | $ | 32,891 | $ | 36,299 | $ | 29,129 | |
Deferred tax expense (benefit): | |||||||
U.S. federal | $ | -15,401 | $ | -10,305 | $ | -12,790 | |
State | -473 | 53 | -234 | ||||
Foreign | -362 | -1,347 | 957 | ||||
Total deferred | $ | -16,236 | $ | -11,599 | $ | -12,067 | |
Change in valuation allowance | - | - | - | ||||
Total provision | $ | 16,655 | $ | 24,700 | $ | 17,062 | |
Deferred tax liabilities (assets) at December 31, 2013 and 2012 as follows: | |||||||
(In thousands) | December 31, | ||||||
2013 | 2012 | ||||||
Capitalized software | $ | 7,748 | $ | 7,432 | |||
Depreciation and amortization | 15,550 | 15,404 | |||||
Intangible assets | 18,843 | 9,920 | |||||
Unrealized gain on derivative instruments | 898 | 709 | |||||
Undistributed earnings of foreign subsidiaries | 8,565 | 8,437 | |||||
Gross deferred tax liabilties | 51,604 | 41,902 | |||||
Operating loss carryforwards | -108,297 | -86,285 | |||||
Vacation and other accruals | -5,147 | -5,895 | |||||
Inventory valuation and warranty provisions | -12,813 | -11,773 | |||||
Doubtful accounts and sales provisions | -1,101 | -1,229 | |||||
Unrealized exchange loss | -2,192 | -1,664 | |||||
Deferred revenue | -7,809 | -3,987 | |||||
Accrued rent expenses | -453 | -219 | |||||
10% minority stock investment | -908 | -932 | |||||
Stock-based compensation | -6,069 | -5,471 | |||||
Research and development tax credit carryforward | -2,758 | -2,421 | |||||
Foreign tax credit carryforward | -4 | - | |||||
Other | -444 | -561 | |||||
Gross deferred tax assets | -147,995 | -120,437 | |||||
Valuation allowance | 103,778 | 91,649 | |||||
Net deferred tax liability | $ | 7,387 | $ | 13,114 | |||
A reconciliation of income taxes at the U.S. federal statutory income tax rate to our effective tax rate follows: | |||||||
Years Ended December 31, | |||||||
2013 | 2012 | 2011 | |||||
U.S. federal statutory rate | 35 | % | 35 | % | 35 | % | |
Foreign taxes greater (less) than federal statutory rate | 2 | -5 | -7 | ||||
Research and development tax credits | -7 | - | -3 | ||||
Enhanced deduction for certain research and development expenses | -13 | -15 | -16 | ||||
State income taxes, net of federal tax benefit | 1 | 1 | 1 | ||||
Employee share-based compensation | - | 2 | 1 | ||||
Intercompany profit | -2 | 2 | 3 | ||||
Nondeductible acquisition costs | - | 2 | - | ||||
Domestic production activities deduction | -1 | - | - | ||||
Other | 2 | - | 1 | ||||
Effective tax rate | 17 | % | 22 | % | 15 | % | |
As of December 31, 2013, we had a federal net operating loss carryforward of $4.3 million which expires during the years 2030 to 2032, and federal tax credit carryforwards of $2.8 million which expire during the years 2019 to 2030. These carryforwards are subject to limitations following a change in ownership. | |||||||
As of December 31, 2013, 15 of our subsidiaries had available, for income tax purposes, foreign net operating loss carryforwards of an aggregate of approximately $571 million, of which $2.7 million expires during the years 2018 to 2023 and $568 million of which may be carried forward indefinitely. Our tax valuation allowance relates primarily to our ability to realize certain of these foreign net operating loss carryforwards. | |||||||
In 2003, we restructured the organization of our manufacturing operation in Hungary. The tax deductible goodwill in excess of book goodwill created by this restructuring resulted in our being required to record a gross deferred tax asset of $91 million. Because we did not expect to have sufficient taxable income in the relevant jurisdiction in future periods to realize the benefit of this deferred tax asset, a full valuation allowance was established. Following the approval of the merger of our Hungarian manufacturing operation with its Hungarian parent company in December 2007, we released $9.7 million, $8.7 million and $18.3 million in 2009, 2008 and 2007, respectively, of the valuation allowance previously established for the excess tax deductible goodwill to reflect the tax benefit we expected to realize in future periods. | |||||||
Effective January 1, 2010, a new tax law in Hungary provided for an enhanced deduction for the qualified research and development expenses of NI Hungary Software and Hardware Manufacturing Kft. (“NI Hungary”). During the three months ended December 31, 2009, we obtained confirmation of the application of this new tax law for the qualified research and development expenses of NI Hungary. Based on the application of this new tax law to the qualified research and development expense of NI Hungary, we no longer expect to have sufficient future taxable income in Hungary to realize the benefits of these tax assets. As such, we recorded an income tax charge of $21.6 million during the three months ended December 31, 2009, $18.4 million of which was related to a valuation allowance on the previously recognized assets created by the restructuring and $3.2 million of which was related to tax benefits from other assets that we will no longer be able to realize as a result of this change. We do not expect to realize the tax benefit of the remaining assets created by the restructuring and therefore we had a full valuation allowance against those assets at December 31, 2013. | |||||||
We have not provided for U.S. federal income and foreign withholding taxes on approximately $558 million of certain non-U.S. subsidiaries’ undistributed earnings as of December 31, 2013. These earnings would become subject to taxes of approximately $185 million, if they were actually or deemed to be remitted to the parent company as dividends or if we should sell our stock in these subsidiaries. We intend to permanently reinvest the undistributed earnings. | |||||||
We account for uncertainty in income taxes recognized in our financial statements using prescribed recognition thresholds and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on our tax returns. We recognized no material adjustment to the liability for unrecognized income tax benefits. A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows: | |||||||
(In thousands) | 2013 | 2012 | |||||
Balance at beginning of period | $ | 20,920 | $ | 19,494 | |||
Additions based on tax positions related to the current year | 3,290 | 3,150 | |||||
Additions for tax positions of prior years | 337 | 1,764 | |||||
Reductions as a result of settlement with taxing authorities | -975 | -285 | |||||
Reductions as a result the lapse of the applicable statute of limitations | - | -2,256 | |||||
Reduction for tax positions of prior years | - | -947 | |||||
Balance at end of period | $ | 23,572 | $ | 20,920 | |||
All of our unrecognized tax benefits at December 31, 2013 would affect our effective income tax rate if recognized. | |||||||
We recognize interest and penalties related to income tax matters in income tax expense. During the years ended December 31, 2013 and 2012, we recognized interest expense related to uncertain tax positions of approximately $337,000 and $782,000, respectively. | |||||||
The tax years 2006 through 2012 remain open to examination by the major taxing jurisdictions to which we are subject. The Internal Revenue Service (“IRS”) commenced an examination of our U.S. income tax returns for 2010 and 2011 in the second quarter of 2013. | |||||||
Earnings from our operations in Malaysia are free of tax under a tax holiday effective January 1, 2013. This tax holiday expires in 2027. If we fail to satisfy the conditions of the tax holiday, this tax benefit may be terminated early. As our Malaysia manufacturing operation is still in a start-up phase, the tax holiday did not result in any income tax benefit for the year ended December 31, 2013. | |||||||
Comprehensive_Income
Comprehensive Income | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Comprehensive Income [Abstract] | ' | ||||||||
Comprehensive Income | ' | ||||||||
Note 10 – Comprehensive income | |||||||||
Our comprehensive income is comprised of net income, foreign currency translation, unrealized gains and losses on forward and option contracts and securities classified as available-for-sale. The accumulated other comprehensive income, net of tax, for the years ended December 31, 2013 and 2012, consisted of the following: | |||||||||
31-Dec-13 | |||||||||
(In thousands) | Currency translation adjustment | Investments | Derivative instruments | Accumulated other comprehensive income | |||||
Balance as of December 31, 2012 | $ | 208 | $ | -620 | $ | 1,256 | $ | 844 | |
Current-period other comprehensive income | 1,332 | -538 | 4,616 | 5,410 | |||||
Reclassified from accumulated OCI into income | - | - | -3,378 | -3,378 | |||||
Income tax expense | -229 | 92 | -189 | -326 | |||||
Balance as of December 31, 2013 | $ | 1,311 | $ | -1,066 | $ | 2,305 | $ | 2,550 | |
31-Dec-12 | |||||||||
(In thousands) | Currency translation adjustment | Investments | Derivative instruments | Accumulated other comprehensive income | |||||
Balance as of December 31, 2011 | $ | -1,543 | $ | -664 | $ | -1,293 | $ | -3,500 | |
Current-period other comprehensive income | 2,231 | 56 | 6,665 | 8,952 | |||||
Reclassified from accumulated OCI into income | - | - | -3,513 | -3,513 | |||||
Income tax expense | -480 | -12 | -603 | -1,095 | |||||
Balance as of December 31, 2012 | $ | 208 | $ | -620 | $ | 1,256 | $ | 844 | |
Authorized_Shares_Of_Common_An
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans [Abstract] | ' | |||||||||||
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans | ' | |||||||||||
Note 11 – Authorized shares of common and preferred stock and stock-based compensation plans | ||||||||||||
Authorized shares of common and preferred stock | ||||||||||||
Following approval by the Company’s Board of Directors and stockholders, on May 14, 2013, the Company’s certificate of incorporation was amended to increase the authorized shares of common stock by 180,000,000 shares to a total of 360,000,000 shares. As a result of this amendment, the total number of shares which the Company is authorized to issue is 365,000,000 shares, consisting of (i) 5,000,000 shares of preferred stock, par value $.01 per share, and (ii) 360,000,000 shares of common stock, par value $.01 per share. | ||||||||||||
Stock option plans | ||||||||||||
Our stockholders approved the 1994 Incentive Stock Option Plan (the “1994 Plan”) in May 1994. At the time of approval, 13,668,750 shares of our common stock were reserved for issuance under this plan. In 1997, an additional 10,631,250 shares of our common stock were reserved for issuance under this plan, and an additional 1,125,000 shares were reserved for issuance under this plan in 2004. The 1994 Plan terminated in May 2005, except with respect to outstanding awards previously granted thereunder. | ||||||||||||
Awards under the plan were either incentive stock options within the meaning of Section 422 of the Internal Revenue Code or nonqualified options. The right to purchase shares under the options vests over a five to ten-year period, beginning on the date of grant. Vesting of ten year awards may accelerate based on the Company’s previous year’s earnings and revenue growth but shares cannot accelerate to vest over a period of less than five years. Stock options must be exercised within ten years from date of grant. Stock options were issued with an exercise price which was equal to the market price of our common stock at the grant date. We estimate potential forfeitures of stock grants and adjust compensation cost recorded accordingly. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of stock compensation expense to be recognized in future periods. During the years ended December 31, 2013, we did not make any changes in accounting principles or methods of estimates related to the 1994 Plan. | ||||||||||||
Transactions under all stock option plans are summarized as follows: | ||||||||||||
Number of shares under option | Weighted average exercise price | |||||||||||
Outstanding at December 31, 2010 | 2,334,448 | $ | 17.15 | |||||||||
Exercised | -932,895 | $ | 15.94 | |||||||||
Canceled | -84,337 | $ | 16.23 | |||||||||
Granted | - | $ | - | |||||||||
Outstanding at December 31, 2011 | 1,317,216 | $ | 18.07 | |||||||||
Exercised | -237,146 | $ | 16.59 | |||||||||
Canceled | -26,945 | $ | 17.07 | |||||||||
Granted | - | $ | - | |||||||||
Outstanding at December 31, 2012 | 1,053,125 | $ | 18.44 | |||||||||
Exercised | -713,737 | $ | 18.36 | |||||||||
Canceled | -51,980 | $ | 18.47 | |||||||||
Granted | - | $ | - | |||||||||
Outstanding at December 31, 2013 | 287,408 | $ | 18.62 | |||||||||
Options exercisable at December 31: | ||||||||||||
2011 | 1,270,775 | $ | 18.06 | |||||||||
2012 | 1,034,559 | $ | 18.44 | |||||||||
2013 | 275,643 | $ | 18.56 | |||||||||
The aggregate intrinsic value of stock options at exercise, represented in the table above, was $8.3 million, $2.4 million and $13.0 million for the years ended December 31, 2013, 2012 and 2011, respectively. Total unrecognized stock-based compensation expense related to non-vested stock options was approximately $11,000 as of December 31, 2013, related to approximately 11,765 shares with a per share weighted average fair value of $13.81. We anticipate this expense to be recognized over a weighted average period of approximately 0.56 years. | ||||||||||||
Outstanding and Exercisable by Price Range as of December 31, 2013 | ||||||||||||
Options Outstanding | Options Exercisable | |||||||||||
Range of Exercise Prices | Number outstanding as of 12/31/2013 | Weighted average remaining contractual life | Weighted average exercise price | Number exerciseable as of 12/31/2013 | Weighted average exercise price | |||||||
$ | 14.63 - 15.09 | 69,180 | 1.29 | $ | 15.08 | 69,167 | $ | 15.08 | ||||
$ | 17.01 - 19.51 | 39,863 | 0.80 | $ | 18.95 | 39,863 | $ | 18.95 | ||||
$ | 19.90 - 21.65 | 178,365 | 0.23 | $ | 19.91 | 166,613 | $ | 19.92 | ||||
$ | 14.63 - 21.65 | 287,408 | 0.56 | $ | 18.62 | 275,643 | $ | 18.56 | ||||
The weighted average remaining contractual life of options exercisable as of December 31, 2013 was 0.58 years. The aggregate intrinsic value of options outstanding as of December 31, 2013 was $3.9 million. The aggregate intrinsic value of options currently exercisable as of December 31, 2013 was $3.7 million. No options were granted in the years ended December 31, 2013, 2012 and 2011. | ||||||||||||
Restricted stock plan | ||||||||||||
Our stockholders approved our 2005 Incentive Plan (the “2005 Plan”) in May 2005. At the time of approval, 4,050,000 shares of our common stock were reserved for issuance under this plan, as well as the number of shares which had been reserved but not issued under the 1994 Plan (our incentive stock option plan which terminated in May 2005), and any shares that returned to the 1994 Plan as a result of termination of options or repurchase of shares issued under such plan. The 2005 Plan, administered by the Compensation Committee of the Board of Directors, provided for granting of incentive awards in the form of restricted stock and RSUs to directors, executive officers and employees of the Company and its subsidiaries. Awards vest over a three, five or ten-year period, beginning on the date of grant. Vesting of ten year awards may accelerate based on the Company’s previous year’s earnings and growth but ten year awards cannot accelerate to vest over a period of less than five years. The 2005 Plan terminated on May 11, 2010, except with respect to outstanding awards previously granted thereunder. There were 3,362,304 shares of common stock that were reserved but not issued under the 1994 Plan and the 2005 Plan as of May 11, 2010. | ||||||||||||
Our stockholders approved our 2010 Incentive Plan (the “2010 Plan”) on May 11, 2010. At the time of approval, 3,000,000 shares of our common stock were reserved for issuance under this plan, as well as the 3,362,304 shares of common stock that were reserved but not issued under the 1994 Plan and the 2005 Plan as of May 11, 2010, and any shares that are returned to the 1994 Plan and the 2005 Plan as a result of forfeiture or termination of options or RSUs or repurchase of shares issued under these plans. The 2010 Plan, administered by the Compensation Committee of the Board of Directors, provides for granting of incentive awards in the form of restricted stock and RSUs to employees, directors and consultants of the Company and employees and consultants of any parent or subsidiary of the Company. Awards vest over a three, five or ten-year period, beginning on the date of grant. Vesting of ten year awards may accelerate based on the Company’s previous year’s earnings and growth but ten year awards cannot accelerate to vest over a period of less than five years. There were 3,318,042 shares available for grant under the 2010 Plan at December 31, 2013. | ||||||||||||
We estimate potential forfeitures of RSUs and adjust compensation cost recorded accordingly. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of stock compensation expense to be recognized in future periods. During the year ended December 31, 2013, we did not make any changes in accounting principles or methods of estimates related to the 2010 Plan. | ||||||||||||
Transactions under our 2005 Plan and 2010 Plan are summarized as follows: | ||||||||||||
RSUs | ||||||||||||
Number of RSUs | Weighted average grant price | |||||||||||
Outstanding at December 31, 2010 | 2,996,297 | $ | 17.97 | |||||||||
Granted | 1,370,666 | $ | 30.14 | |||||||||
Earned | -860,598 | $ | 18.20 | |||||||||
Canceled | -84,843 | $ | 20.85 | |||||||||
Outstanding at December 31, 2011 | 3,421,522 | $ | 22.75 | |||||||||
Granted | 1,311,105 | $ | 26.81 | |||||||||
Earned | -841,918 | $ | 20.41 | |||||||||
Canceled | -85,435 | $ | 24.66 | |||||||||
Outstanding at December 31, 2012 | 3,805,274 | $ | 24.62 | |||||||||
Granted | 764,315 | $ | 29.50 | |||||||||
Earned | -906,214 | $ | 22.25 | |||||||||
Canceled | -156,813 | $ | 25.99 | |||||||||
Outstanding at December 31, 2013 | 3,506,562 | $ | 26.23 | |||||||||
Total unrecognized stock-based compensation expense related to non-vested RSUs was approximately $89.4 million as of December 31, 2013, related to 3,506,562 shares with a per share weighted average fair value of $26.23. We anticipate this expense to be recognized over a weighted average period of approximately 5.43 years. | ||||||||||||
Employee stock purchase plan | ||||||||||||
Our employee stock purchase plan permits substantially all domestic employees and employees of designated subsidiaries to acquire our common stock at a purchase price of 85% of the lower of the market price at the beginning or the end of the purchase period. The plan has quarterly purchase periods generally beginning on February 1, May 1, August 1 and November 1 of each year. Employees may designate up to 15% of their compensation for the purchase of common stock under this plan. On May 10, 2011, our stockholders approved an additional 3,000,000 shares for issuance under our employee stock purchase plan, and at December 31, 2013, we had 1,380,751 shares of common stock reserved for future issuance under this plan. We issued 1,191,599 shares under this plan in the year ended December 31, 2013. The weighted average purchase price of the employees’ purchase rights was $22.48 per share and was estimated using the Black-Scholes model with the following assumptions: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Dividend expense yield | 0.5% | 0.5% | 0.4% | |||||||||
Expected life | 3 months | 3 months | 3 months | |||||||||
Expected volatility | 25% | 40% | 44% | |||||||||
Risk-free interest rate | 0.1% | 0.1% | 0.1% | |||||||||
During the year ended December 31, 2013, we did not make any changes in accounting principles or methods of estimates with respect to the employee stock purchase plan. | ||||||||||||
Weighted average, grant date fair value of purchase rights granted under the Employee Stock Purchase Plan are as follows: | ||||||||||||
Number of Shares | Weighted average fair value | |||||||||||
2011 | 940,703 | $ | 6.56 | |||||||||
2012 | 1,122,483 | $ | 5.93 | |||||||||
2013 | 1,191,599 | $ | 5.64 | |||||||||
Authorized Preferred Stock and Preferred Stock Purchase Rights Plan | ||||||||||||
We have 5,000,000 authorized shares of preferred stock. On January 21, 2004, our Board of Directors designated 750,000 of these shares as Series A Participating Preferred Stock in conjunction with its adoption of a Preferred Stock Rights Agreement (the “Rights Agreement”) and declaration of a dividend of one preferred share purchase right (a “Right”) for each share of common stock outstanding held as of May 10, 2004 or issued thereafter. Each Right will entitle its holder to purchase one one-thousandth of a share of National Instruments’ Series A Participating Preferred Stock at an exercise price of $200, subject to adjustment, under certain circumstances. The Rights Agreement was not adopted in response to any effort to acquire control of National Instruments. | ||||||||||||
The Rights only become exercisable in certain limited circumstances following the tenth day after a person or group announces acquisitions of or tender offers for 20% or more of our common stock. In addition, if an acquirer (subject to certain exclusions for certain current stockholders of National Instruments, an “Acquiring Person”) obtains 20% or more of our common stock, then each Right (other than the Rights owned by an Acquiring Person or its affiliates) will entitle the holder to purchase, for the exercise price, shares of our common stock having a value equal to two times the exercise price. Under certain circumstances, our Board of Directors may redeem the Rights, in whole, but not in part, at a purchase price of $0.01 per Right. The Rights have no voting privileges and are attached to and automatically traded with our common stock until the occurrence of specified trigger events. The Rights will expire on the earlier of May 10, 2014 or the exchange or redemption of the Rights. | ||||||||||||
There were not any shares of preferred stock issued and outstanding at December 31, 2013 and December 31, 2012. | ||||||||||||
Stock repurchases and retirements | ||||||||||||
From time to time, our Board of Directors has authorized various programs to repurchase shares of our common stock depending on market conditions and other factors | ||||||||||||
Employee_Retirement_Plan
Employee Retirement Plan | 12 Months Ended |
Dec. 31, 2013 | |
Employee Retirement Plan [Abstract] | ' |
Employee Retirement Plan | ' |
Note 12 – Employee retirement plan | |
We have a defined contribution retirement plan pursuant to Section 401(k) of the Internal Revenue Code. Substantially all domestic employees with at least 30 days of continuous service are eligible to participate and may contribute up to 15% of their compensation. The Board of Directors has elected to make matching contributions equal to 50% of employee contributions, which may be applied to a maximum of 6% of each participant’s compensation. Employees are eligible for matching contributions after one year of continuous service. Company contributions vest immediately. Our policy prohibits participants from direct investment in shares of our common stock within the plan. Company contributions charged to expense were $5.8 million, $5.3 million and $4.7 million in 2013, 2012 and 2011, respectively. | |
Segment_Information
Segment Information | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Segment Information [Abstract] | ' | ||||||
Segment Information | ' | ||||||
Note 13 – Segment information | |||||||
We determine operating segments using the management approach. The management approach designates the internal organization that is used by management for making operating decisions and assessing performance as the source of our operating segments. It also requires disclosures about products and services, geographic areas and major customers. | |||||||
We have defined our operating segment based on geographic regions. We sell our products in four geographic regions. Our sales to these regions share similar economic characteristics, similar product mix, similar customers, and similar distribution methods. Accordingly, we have elected to aggregate these four geographic regions into a single operating segment. Revenue from the sale of our products which are similar in nature and software maintenance are reflected as total net sales in our Consolidated Statements of Income. | |||||||
Total net sales, operating income, interest income and long-lived assets, classified by the major geographic areas in which we operate, are as follows: | |||||||
(In thousands) | Years ended December 31, | ||||||
2013 | 2012 | 2011 | |||||
Net sales: | |||||||
Americas | $ | 483,604 | $ | 454,616 | $ | 411,006 | |
Europe | 318,179 | 297,572 | 308,619 | ||||
East Asia | 260,100 | 282,512 | 215,500 | ||||
Emerging Markets | 110,675 | 108,992 | 89,048 | ||||
$ | 1,172,558 | $ | 1,143,692 | $ | 1,024,173 | ||
Years ended December 31, | |||||||
2013 | 2012 | 2011 | |||||
Operating income: | |||||||
Americas | $ | 56,054 | $ | 41,266 | $ | 55,140 | |
Europe | 132,768 | 135,600 | 142,533 | ||||
East Asia | 106,586 | 125,879 | 85,005 | ||||
Emerging Markets | 38,005 | 37,183 | 29,105 | ||||
Unallocated: | |||||||
Research and development expenses | -234,796 | -222,994 | -199,071 | ||||
$ | 98,617 | $ | 116,934 | $ | 112,712 | ||
Years ended December 31, | |||||||
2013 | 2012 | 2011 | |||||
Interest income: | |||||||
Americas | $ | 51 | $ | 177 | $ | 408 | |
Europe | 536 | 432 | 771 | ||||
East Asia | 28 | 23 | 23 | ||||
Emerging Markets | 64 | 84 | 117 | ||||
$ | 679 | $ | 716 | $ | 1,319 | ||
December 31, | |||||||
2013 | 2012 | ||||||
Property and equipment, net: | |||||||
Americas | $ | 120,829 | $ | 120,329 | |||
Europe | 51,038 | 48,465 | |||||
East Asia | 4,162 | 3,428 | |||||
Emerging Markets | 84,539 | 77,499 | |||||
$ | 260,568 | $ | 249,721 | ||||
Total sales outside the U.S. for 2013, 2012, and 2011 were $726 million, $722 million, and $646 million, respectively. | |||||||
Debt
Debt | 12 Months Ended |
Dec. 31, 2013 | |
Debt [Abstract] | ' |
Debt | ' |
Note 14 - Debt | |
On May 9, 2013, we entered into a Loan Agreement (the “Loan Agreement”) with Wells Fargo Bank, National Association (the “Lender”). The Loan Agreement provides for a $50 million unsecured revolving line of credit with a scheduled maturity date of May 9, 2018 (the “Maturity Date”). Proceeds of loans made under the Loan Agreement may be used for working capital and other general corporate purposes. We may prepay the loans under the Loan Agreement in whole or in part at any time without premium or penalty. Certain of our existing and future material domestic subsidiaries are required to guaranty our obligations under the Loan Agreement. As of December 31, 2013, we had $50 million available for borrowings under this revolving line of credit. | |
The loans bear interest, at our option, at a base rate determined in accordance with the Loan Agreement, plus a spread of 0.0% to 0.5%, or a LIBOR rate plus a spread of 1.125% to 2.0%, in each case with such spread determined based on a ratio of consolidated indebtedness to EBITDA, determined in accordance with the Loan Agreement. Principal, together with all accrued and unpaid interest, is due and payable on the Maturity Date. We are also obligated to pay a quarterly commitment fee, payable in arrears, based on the available commitments at a rate of 0.175% to 0.300%, with such rate determined based on the ratio described above. The Loan Agreement contains customary affirmative and negative covenants. The affirmative covenants include, among other things, delivery of financial statements, compliance certificates and notices; payment of taxes and other obligations; maintenance of existence; maintenance of properties and insurance; and compliance with applicable laws and regulations. The negative covenants include, among other things, limitations on indebtedness, liens, mergers, consolidations, acquisitions and sales of assets, investments, changes in the nature of the business, affiliate transactions and certain restricted payments. The Loan Agreement also requires us to maintain a ratio of consolidated indebtedness to EBITDA equal to or less than 3.25 to 1.00, and a ratio of consolidated EBITDA to interest expense greater than or equal to 3.00 to 1.00, in each case determined in accordance with the Loan Agreement. | |
The Loan Agreement contains customary events of default including, among other things, payment defaults, breaches of covenants or representations and warranties, cross-defaults with certain other indebtedness, bankruptcy and insolvency events, judgment defaults and change in our control, subject to grace periods in certain instances. Upon an event of default, the lender may declare all or a portion of the outstanding obligations payable by us to be immediately due and payable and exercise other rights and remedies provided for under the Credit Agreement. Under certain circumstances, a default interest rate will apply on all obligations during the existence of an event of default under the Loan Agreement at a per annum rate of interest equal to 2.00% above the otherwise applicable interest rate. As of December 31, 2013, we were in compliance with all covenants in the Loan Agreement. | |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Commitments And Contingencies [Abstract] | ' | ||
Commitments And Contingencies | ' | ||
Note 15 – Commitments and Contingencies | |||
We have commitments under non-cancelable operating leases primarily for office facilities throughout the world. Certain leases require us to pay property taxes, insurance and routine maintenance, and include escalation clauses. Future minimum lease payments as of December 31, 2013, for each of the next five years are as follows: | |||
Amount | |||
(In thousands) | |||
2014 | $ | 19,786 | |
2015 | 16,664 | ||
2016 | 11,319 | ||
2017 | 7,181 | ||
2018 | 5,545 | ||
Thereafter | 6,031 | ||
$ | 66,526 | ||
Rent expense under operating leases was approximately $19 million, $17 million and $16 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||
As of December 31, 2013, we had non-cancelable purchase commitments with various suppliers of customized inventory and inventory components totaling approximately $11 million over the next twelve months. | |||
As of December 31, 2013, we had outstanding guarantees for payment of customs and foreign grants totaling approximately $5.2 million, which are generally payable over the next twelve months. | |||
From November 1999 to May 2011, we sold products to the U.S. government under a contract with the General Services Administration ("GSA"). Our previous contract with GSA contained a price reduction or "most favored customer" pricing provision. During 2011 and 2012, we had been in discussions with GSA regarding our compliance with this pricing provision and provided GSA with information regarding our pricing practices. In 2011, GSA conducted an on-site review of our GSA pricing practices and orally informed us that GSA did not agree with our previous determination of the potential non-compliance amount. GSA subsequently requested that we conduct a further analysis of the non-compliance amount based upon a methodology that GSA proposed. This analysis resulted in calculated overpayments (including added interest) by GSA to us of approximately $13.1 million. During the quarter ended September 30, 2011, we established an accrual for $13.1 million which represented the amount of the loss contingency that was reasonably estimable at that time. On June 6, 2012, we entered into a Settlement Agreement with GSA and paid approximately $11.8 million in settlement of the foregoing matters. Due to the complexities of conducting business with GSA, the relatively small amount of revenue we realized from our previous GSA contract, and our belief that we can continue to sell our products to U.S. government agencies through other contracting methods, we cancelled our contract with GSA in April 2011, effective May 2011. To date, we have not experienced any material adverse impact on our results of operations as a result of the cancellation of our previous GSA contract. | |||
Litigation
Litigation | 12 Months Ended |
Dec. 31, 2013 | |
Litigation [Abstract] | ' |
Litigation | ' |
Note 16 – Litigation | |
We are not currently a party to any material litigation. However, in the ordinary course of our business, we are involved in a limited number of legal actions, both as plaintiff and defendant, and could incur uninsured liability in any one or more of them. We also periodically receive notifications from various third parties related to alleged infringement of patents or intellectual property rights, commercial disputes or other matters. No assurances can be given with respect to the extent or outcome of any future litigation or dispute. | |
Acquisitions
Acquisitions | 12 Months Ended | ||
Dec. 31, 2013 | |||
Acquisitions [Abstract] | ' | ||
Acquisitions | ' | ||
Note 17 - Acquisitions | |||
In the fourth quarter of 2012, we acquired three privately held companies, including Signalion. The companies acquired included a wireless product company with a focus on test and measurement, a network measurements company with an emphasis on next-generation characterization and analysis tools for the high-frequency electronics and communication market, and a leading electrical engineering products company serving students, universities and OEMs worldwide with technology based educational design tools. These acquisitions are expected to accelerate the deployment of our RF and wireless technologies, accelerate our expansion into digital and embedded education, gain access to fast turn, low cost development and manufacturing capabilities, and increase our position in semiconductor academic programs. The combined purchase price of the acquisitions was $42 million consisting of $25 million cash, net of $5 million cash received, and $12 million in future cash payments. We funded the cash portion of the purchase price from existing cash balances. | |||
The allocation of the purchase price was determined using the fair value of assets and liabilities acquired as of the respective closing dates. Our consolidated financial statements include the operating results from the dates of acquisition. Pro-forma results of operations have not been presented because the effects of those operations were not material. The finalization of our purchase price allocation during the fourth quarter of 2013 resulted in a net increase in tangible assets of $1.5 million, a decrease in intangible assets of $1,000, and a decrease in goodwill of approximately $1.5 million. The following table summarizes the allocation of the purchase price of these acquisitions resulting from all adjustments as of December 31, 2013: | |||
Amount | |||
(In thousands) | |||
Net tangible assets acquired | $ | 9,563 | |
Amortizable intangible assets | 24,136 | ||
Deferred tax liability | -7,899 | ||
Goodwill | 16,524 | ||
Total | $ | 42,324 | |
Goodwill is not deductible for tax purposes. Amortizable intangible assets have useful lives of 4 months to 5 years from the date of acquisition. These assets are not deductible for tax purposes for two of the three acquisitions. | |||
AWR Corporation | |||
On June 30, 2011, we acquired all of the outstanding shares of AWR Corporation (AWR), a privately held company that is a leading supplier of electronic design automation software for designing radio frequency and high-frequency components and systems for the semiconductor, aerospace and defense, communications and test equipment industries. The acquisition is expected to improve customer productivity through increased interoperability between upfront design and validation and production test functions. The purchase price of the acquisition was $66 million consisting of $54 million in cash and a three-year earn-out arrangement. We funded the purchase price from existing cash balances. The range of potential undiscounted payments that we could be required to make under the earn-out arrangement is between $0 and $29 million and are payable if AWR achieves certain revenue and operating income targets. The fair value of the earn-out arrangement was estimated at $12 million using the income approach, the key assumptions which included probability-weighted revenue and operating expense growth projections. In July 2012, the Company paid the amount due to the former AWR shareholders based on the first earn-out year performance of AWR. The amount paid was $3.3 million, and it is being recorded as a reduction of the earn-out liability. We re-measure the fair value of the earn-out liability each quarter. In the fourth quarter of 2012, we increased the acquisition earn out accrual by $6.8 million as AWR’s performance exceeded our prior expectations, and in the first quarter of 2013, we subsequently decreased this accrual by $1.3 million. In the third quarter of 2013, we made the second payment to AWR of $14 million. At December 31, 2013, the remaining earn-out accrual was valued at zero. | |||
The allocation of the purchase price was determined using the fair value of assets and liabilities acquired as of June 30, 2011. The finalization of our purchase price allocation during the three months ended June 30, 2012 resulted in an increase in acquired deferred tax assets and a decrease in goodwill of approximately $1.6 million. Our consolidated financial statements include the operating results from the date of acquisition. Pro-forma results of operations have not been presented because the effects of those operations were not material. The following table summarizes the allocation of the purchase price of AWR: | |||
Amount | |||
(In thousands) | |||
Net tangible assets acquired | $ | 10,718 | |
Amortizable intangible assets | 31,685 | ||
Deferred tax liability | -8,387 | ||
Goodwill | 32,379 | ||
Total | $ | 66,395 | |
Goodwill is not deductible for tax purposes. Amortizable intangible assets have useful lives of 5 years from the date of acquisition. | |||
Phase Matrix Inc. | |||
On May 20, 2011, we acquired all of the outstanding shares of Phase Matrix, Inc. (PMI), a privately held company that designs and manufactures radio frequency and microwave test and measurement instruments, subsystems and components. The acquisition is expected to speed our deployment of high-performance RF and wireless technologies to our production test and R&D customers. The purchase price of the acquisition was $40.7 million consisting of $38.9 million in cash and $1.8 million in shares of our common stock. We funded the cash portion of the purchase price from existing cash balances. | |||
The allocation of the purchase price was determined using the fair value of assets and liabilities acquired as of May 20, 2011. Our consolidated financial statements include the operating results from the date of acquisition. Pro-forma results of operations have not been presented because the effects of those operations were not material. The following table summarizes the allocation of the purchase price of Phase Matrix, Inc.: | |||
Amount | |||
(In thousands) | |||
Net tangible assets acquired | $ | 5,624 | |
Amortizable intangible assets | 8,331 | ||
Goodwill | 26,725 | ||
Total | $ | 40,680 | |
Goodwill is deductible for tax purposes. Amortizable intangible assets have useful lives which range from 9 months to 8 years from the date of acquisition. These assets are also deductible for tax purposes. | |||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 18 – Subsequent events | |
We have evaluated subsequent events through the date the financial statements were issued. | |
On January 30, 2014, our Board of Directors declared a quarterly cash dividend of $0.15 per common share, payable March 10, 2014, to stockholders of record on February 18, 2014. | |
Operations_And_Summary_Of_Sign1
Operations And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | |||||||||
Principles Of Consolidation | ' | |||||||||
Principles of consolidation | ||||||||||
The Consolidated Financial Statements include the accounts of National Instruments Corporation and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. | ||||||||||
Use Of Estimates | ' | |||||||||
Use of estimates | ||||||||||
The preparation of our financial statements in conformity with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures of contingent assets and liabilities. We base our estimates on past experience and other assumptions that we believe are reasonable under the circumstances, and we evaluate these estimates on an ongoing basis. Our critical accounting policies are those that affect our financial statements materially and involve difficult, subjective or complex judgments by management. Although these estimates are based on management's best knowledge of current events and actions that may impact the company in the future, actual results may be materially different from the estimates. | ||||||||||
Cash And Cash Equivalents | ' | |||||||||
Cash and cash equivalents | ||||||||||
Cash and cash equivalents include cash and highly liquid investments with maturities of three months or less at the date of acquisition. | ||||||||||
Short-Term Investments | ' | |||||||||
Short-Term Investments | ||||||||||
We value our available-for-sale short term investments based on pricing from third party pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. We classify all of our fixed income available-for-sale securities as having Level 2 inputs. The valuation techniques used to measure the fair value of our financial instruments having Level 2 inputs were derived from non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models, such as discounted cash flow techniques. We believe these sources reflect the credit risk associated with each of our available for sale short term investments. Short-term investments available-for-sale consists of debt securities issued by states of the U.S. and political subdivisions of the U.S., corporate debt securities and debt securities issued by U.S. government corporations and agencies as well as debt securities issued by foreign governments. All short-term investments available-for-sale have contractual maturities of less than 35 months. | ||||||||||
Our investments are classified as available-for-sale and accordingly are reported at fair value, with unrealized gains and losses reported as other comprehensive income, a component of stockholders’ equity. Unrealized losses are charged against income when a decline in fair value is determined to be other than temporary. Investments with maturities beyond one year are classified as short-term based on their highly liquid nature and because such marketable securities represent the investment of cash that is available for current operations. The fair value of our short-term investments in debt securities at December 31, 2013 and December 31, 2012 was $163 million and $173 million, respectively. The decrease was due to the net sale of $10 million of short-term investments. We have $17 million U.S. dollar equivalent of German government sovereign debt and $16 million U.S. dollar equivalent of corporate bonds that are denominated in Euro at December 31, 2013. Our German government sovereign debt holdings have a maximum remaining maturity of 18 months and carry Aaa/AAA ratings. | ||||||||||
We follow the guidance provided by FASB ASC 320 to assess whether our investments with unrealized loss positions are other than temporarily impaired. Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income (expense), net, in our Consolidated Statements of Income. We did not identify or record any other-than-temporary impairments during 2013, 2012 and 2011. | ||||||||||
Accounts Receivable, Net | ' | |||||||||
Accounts Receivable, net | ||||||||||
Accounts receivable are recorded net of allowances for sales returns of $1.6 million and $2.1 million at December 31, 2013 and 2012, respectively, and net of allowances for doubtful accounts of $2.8 million and $2.8 million at December 31, 2013 and 2012, respectively. A provision for estimated sales returns is made by reducing recorded revenue based on historical experience. We analyze historical returns, current economic trends and changes in customer demand of our products when evaluating the adequacy of our sales returns allowance. Our allowance for doubtful accounts is based on historical experience. We analyze historical bad debts, customer concentrations, customer creditworthiness and current economic trends when evaluating the adequacy of our allowance for doubtful accounts. | ||||||||||
(In thousands) | ||||||||||
Year | Description | Balance at Beginning of Period | Provisions/ | Write-Offs/ | Balance at End of Period | |||||
(Recapture) | (Recapture) | |||||||||
2011 | Allowance for doubtful accounts and sales returns | $ | 3,768 | $ | 385 | $ | -88 | $ | 4,241 | |
2012 | Allowance for doubtful accounts and sales returns | $ | 4,241 | $ | 1,216 | $ | 587 | $ | 4,870 | |
2013 | Allowance for doubtful accounts and sales returns | $ | 4,870 | $ | -43 | $ | 396 | $ | 4,431 | |
Inventories, Net | ' | |||||||||
Inventories, net | ||||||||||
Inventories are stated at the lower-of-cost or market. Cost is determined using standard costs, which approximate the first-in first-out (“FIFO”) method. Cost includes the acquisition cost of purchased components, parts and subassemblies, in-bound freight costs, labor and overhead. Market is replacement cost with respect to raw materials and is net realizable value with respect to work in process and finished goods. | ||||||||||
Inventory is shown net of adjustment for excess and obsolete inventories of $5.5 million, $3.8 million and $4.2 million at December 31, 2013, 2012 and 2011, respectively. | ||||||||||
(In thousands) | ||||||||||
Year | Description | Balance at Beginning of Period | Provisions | Write-Offs | Balance at End of Period | |||||
2011 | Adjustment for excess and obsolete inventories | $ | 3,340 | $ | 3,554 | $ | 2,689 | $ | 4,205 | |
2012 | Adjustment for excess and obsolete inventories | $ | 4,205 | $ | 1,824 | $ | 2,185 | $ | 3,844 | |
2013 | Adjustment for excess and obsolete inventories | $ | 3,844 | $ | 3,488 | $ | 1,873 | $ | 5,459 | |
Property And Equipment, Net | ' | |||||||||
Property and equipment, net | ||||||||||
Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from twenty to forty years for buildings, three to seven years for purchased internal use software and for equipment which are each included in furniture and equipment. Leasehold improvements are depreciated over the shorter of the life of the lease or the asset. | ||||||||||
Intangible Assets, Net | ' | |||||||||
Intangible assets, net | ||||||||||
We capitalize costs related to the development and acquisition of certain software products. Capitalization of costs begins when technological feasibility has been established and ends when the product is available for general release to customers. Technological feasibility for our products is established when the product is available for beta release. Amortization is computed on an individual product basis for those products available for market and is recognized based on the product’s estimated economic life, generally three years. | ||||||||||
We use the services of outside counsel to search for, document, and apply for patents. Those costs, along with any filing or application fees, are capitalized. Costs related to patents which are abandoned are written off. Once a patent is granted, the patent costs are amortized ratably over the legal life of the patent, generally ten to seventeen years. | ||||||||||
At each balance sheet date, the unamortized costs for all intangible assets are reviewed by management and reduced to net realizable value when necessary. | ||||||||||
Goodwill | ' | |||||||||
Goodwill | ||||||||||
The excess purchase price over the fair value of net assets acquired is recorded as goodwill. As we have one operating segment, we allocate goodwill to one reporting unit for goodwill impairment testing. Goodwill is tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist, using a fair-value-based approach based on the market capitalization of the reporting unit. Our annual impairment test was performed as of February 28, 2013. No impairment of goodwill was identified during 2013 and 2012. Goodwill is deductible for tax purposes in certain jurisdictions. | ||||||||||
Concentrations Of Credit Risk | ' | |||||||||
Concentrations of credit risk | ||||||||||
We maintain cash and cash equivalents with various financial institutions located in many countries throughout the world. At December 31, 2013, $142 million or 62% of our cash and cash equivalents was held in cash in various operating accounts with financial institutions throughout the world, and $88 million or 38% was held in money market accounts. The most significant of our operating accounts was our domestic Wells Fargo operating account which held approximately $15 million or 6% of our total cash and cash equivalents at a bank that carried A+/A2/AA- ratings at December 31, 2013. From a geographic standpoint, approximately $69 million or 30% of our cash was held in various domestic accounts with financial institutions and $161 million or 70% was held in various accounts outside of the U.S. with financial institutions. At December 31, 2013, our short-term investments consist of $17 million or 11% of foreign government bonds, $72 million or 44% of U.S. treasuries and agencies, $71 million or 43% of corporate notes, and $3 million or 2% in time deposits. | ||||||||||
The goal of our investment policy is to manage our investment portfolio to preserve principal and liquidity while maximizing the return on our investment portfolio through the full investment of available funds. We place our cash investments in instruments that meet credit quality standards, as specified in our corporate investment policy guidelines. These guidelines also limit the amount of credit exposure to any one issue, issuer or type of instrument. Our cash equivalents and short-term investments carried ratings from the major credit rating agencies that were in accordance with our corporate investment policy. Our investment policy allows investments in the following: government and federal agency obligations, repurchase agreements (“Repos”), certificates of deposit and time deposits, corporate obligations, medium term notes and deposit notes, commercial paper including asset-backed commercial paper (“ABCP”), puttable bonds, general obligation and revenue bonds, money market funds, taxable commercial paper, corporate notes/bonds, municipal notes, municipal obligations, variable rate demand notes and tax exempt commercial paper. All such instruments must carry minimum ratings of A1/P1/F1, MIG1/VMIG1/SP1 and A2/A/A, as applicable, all of which are considered “investment grade”. Our investment policy for marketable securities requires that all securities mature in three years or less, with a weighted average maturity of no longer than 18 months with at least 10% maturing in 90 days or less. (See Note 2 – Cash, cash equivalents, short-term and long-term investments in Notes to Consolidated Financial Statements for further discussion and analysis of our investments). | ||||||||||
Concentration of credit risk with respect to trade accounts receivable is limited due to our large number of customers and their dispersion across many countries and industries. The amount of sales to any individual customer did not exceed 3%, 7%, or 4% of revenue for the years ended December 31, 2013, 2012, or 2011, respectively. The largest trade account receivable from any individual customer at December 31, 2013 was approximately $6.1 million. | ||||||||||
Key Supplier Risk | ' | |||||||||
Key supplier risk | ||||||||||
Our manufacturing processes use large volumes of high-quality components and subassemblies supplied by outside sources. Several of these components are available through sole or limited sources. Supply shortages or quality problems in connection with some of these key components could require us to procure components from replacement suppliers, which would cause significant delays in fulfillment of orders and likely result in additional costs. In order to manage this risk, we maintain safety stock of some of these single sourced components and subassemblies and perform regular assessments of suppliers performance, grading key suppliers in critical areas such as quality and “on-time” delivery. | ||||||||||
Revenue Recognition | ' | |||||||||
Revenue recognition | ||||||||||
We sell test and measurement solutions that include hardware, software licenses, and related services. Our sales are generally made under standard sales arrangements with payment terms ranging from net 30 days in the United States to net 30 days and up to net 120 days in some international markets. We offer rights of return and standard warranties for product defects related to our products. The rights of return are generally for a period of up to 30 days after the delivery date. Our standard warranties cover periods ranging from 90 days to three years. Our standard sales arrangements do not require product acceptance from the customer. | ||||||||||
In recent years, we have made a concentrated effort to increase our revenue through the pursuit of orders with a value greater than $1.0 million. These orders often include contract terms that vary substantially from our standard terms of sale including product acceptance requirements and product performance evaluations which create uncertainty with respect to the timing of our ability to recognize revenue from such orders. These orders may also include most-favored customer pricing, significant discounts, extended payment terms and volume rebates, all of which may create uncertainty with respect to the amount and timing of revenue recognized from such orders. | ||||||||||
Sales of application software licenses include post-contract support services. Other services include customer training, customer support, and extended warranties. | ||||||||||
We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable, and collectability is reasonably assured. Delivery is considered to have occurred when title and risk of loss have transferred to the customer. For most of our hardware and software sales, title and risk of loss transfer upon delivery. For services we recognize revenue when the service is provided, except for extended warranties for which revenue is recognized ratably over the warranty period. | ||||||||||
We enter into certain arrangements in which we deliver multiple products and/or services. These arrangements may include hardware, software, and services. We separate consideration in multiple-deliverable arrangements by allocating to all deliverables using the relative selling price method at the inception of an arrangement. Revenue allocated to each element is then recognized when the basic revenue recognition criteria for that element have been met. The relative selling price method allocates any discount in the arrangement proportionally to each deliverable on the basis of each deliverable’s selling price. The selling price used for each deliverable will be based on vendor-specific objective evidence (“VSOE”) if available, third–party evidence if VSOE is not available, or estimated selling price if neither VSOE nor third-party evidence is available. | ||||||||||
Software revenue recognition rules are applied to software sold on a stand-alone basis, and to software sold as part of a multiple element arrangement with hardware where the software is not required to deliver the tangible product's essential functionality. Under these rules, when VSOE of fair value is not available for a delivered element but is available for the undelivered element of a multiple element arrangement, sales revenue is recognized on the date the product is shipped, using the residual method, with the portion deferred that is related to undelivered elements. Undelivered elements related to software are generally restricted to post contract support and training and education. The amount of revenue allocated to these undelivered elements is based on the VSOE of fair value for those undelivered elements. Deferred revenue due to undelivered elements is recognized ratably over the service period or when the service is completed. When VSOE of fair value is not available for the undelivered element of a multiple element arrangement, sales revenue for the entire sales contract value is generally recognized ratably over the service period of the undelivered element, generally 12 months or when the service is completed in accordance with the subscription method. | ||||||||||
The application of revenue recognition standards requires judgment, including whether a software arrangement includes multiple elements, and if so, whether VSOE of fair value exists for those elements. Changes to the elements in a software arrangement, the ability to identify VSOE for those elements, the fair value of the respective elements, and changes to a product’s estimated life cycle could materially impact the amount of our earned and unearned revenue. Judgment is also required to assess whether future releases of certain software represent new products or upgrades and enhancements to existing products. | ||||||||||
Product revenue | ||||||||||
Our product revenue is generated predominantly from the sales of measurement and automation products. Our products consist of application software and hardware components together with related driver software. | ||||||||||
Software maintenance revenue | ||||||||||
Software maintenance revenue is post contract customer support that provides the customer with unspecified upgrades/updates and technical support. | ||||||||||
Shipping And Handling Costs | ' | |||||||||
Shipping and handling costs | ||||||||||
Our shipping and handling costs charged to customers are included in net sales, and the associated expense is recorded in cost of sales. | ||||||||||
Warranty Reserve | ' | |||||||||
Warranty reserve | ||||||||||
We offer a one-year limited warranty on most hardware products and extended two or three-year warranties on a subset of our hardware products, which is included in the sales price of many of our products. Provision is made for estimated future warranty costs at the time of the sale for the estimated costs that may be incurred under the basic limited warranty. Our estimate is based on historical experience and product sales. | ||||||||||
The warranty reserve for the years ended December 31, 2013, 2012 and 2011 was as follows: | ||||||||||
(In thousands) | ||||||||||
2013 | 2012 | 2011 | ||||||||
Balance at the beginning of the period | $ | 1,435 | $ | 1,271 | $ | 921 | ||||
Accruals for warranties issued during the period | 3,737 | 2,270 | 2,954 | |||||||
Settlements made (in cash or in kind) during the period | -3,408 | -2,106 | -2,604 | |||||||
Balance at the end of the period | $ | 1,764 | $ | 1,435 | $ | 1,271 | ||||
Loss Contingencies | ' | |||||||||
Loss contingencies | ||||||||||
We accrue for probable losses from contingencies including legal defense costs, on an undiscounted basis, when such costs are considered probable of being incurred and are reasonably estimable. We periodically evaluate available information, both internal and external, relative to such contingencies and adjust this accrual as necessary. | ||||||||||
Advertising Expense | ' | |||||||||
Advertising expense | ||||||||||
We expense costs of advertising as incurred. Advertising expense for the years ended December 31, 2013, 2012 and 2011 was $13.7 million, $14.4 million and $14.7 million, respectively. | ||||||||||
Foreign Currency Translation | ' | |||||||||
Foreign currency translation | ||||||||||
The functional currency for our international sales operations is the applicable local currency. The assets and liabilities of these operations are translated at the rate of exchange in effect on the balance sheet date and sales and expenses are translated at average rates. The resulting gains or losses from translation are included in a separate component of other comprehensive income. Gains and losses resulting from re-measuring monetary asset and liability accounts that are denominated in a currency other than a subsidiary’s functional currency are included in net foreign exchange loss and are included in net income. | ||||||||||
Foreign Currency Hedging Instruments | ' | |||||||||
Foreign currency hedging instruments | ||||||||||
All of our derivative instruments are recognized on the balance sheet at their fair value. We currently use foreign currency forward and purchased option contracts to hedge our exposure to material foreign currency denominated receivables and forecasted foreign currency cash flows. | ||||||||||
On the date the derivative contract is entered into, we designate the derivative as a hedge of the variability of foreign currency cash flows to be received or paid (“cash flow” hedge) or as a hedge of our foreign denominated net receivable positions (“other derivatives”). Changes in the fair value of derivatives that are designated and qualify as cash flow hedges and that are deemed to be highly effective are recorded in other comprehensive income. These amounts are subsequently reclassified into earnings in the period during which the hedged transaction is realized. The gain or loss on the other derivatives as well as the offsetting gain or loss on the hedged item attributable to the hedged risk is recognized in current earnings under the line item “Net foreign exchange loss”. We do not enter into derivative contracts for speculative purposes. | ||||||||||
We formally document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking various hedge transactions at the inception of the hedge. This process includes linking all derivatives that are designated as cash flow hedges to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the hedging instruments are highly effective in offsetting changes in cash flows of hedged items. | ||||||||||
We prospectively discontinue hedge accounting if (1) it is determined that the derivative is no longer highly effective in offsetting changes in the fair value of a hedged item (forecasted transactions); or (2) the derivative is de-designated as a hedge instrument, because it is unlikely that a forecasted transaction will occur. When hedge accounting is discontinued, the derivative is sold and the resulting gains and losses are recognized immediately in earnings. | ||||||||||
Income Taxes | ' | |||||||||
Income taxes | ||||||||||
We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax basis of assets and liabilities and their reported amounts. Valuation allowances are established when necessary to reduce deferred tax assets to amounts which are more likely than not to be realized. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. Variations in the actual outcome of these future tax consequences could materially impact our financial position or our results of operations. In estimating future tax consequences, all expected future events are considered other than enactments of changes in tax laws or rates. We account for uncertainty in income taxes recognized in our financial statements using prescribed recognition thresholds and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on our tax returns. Our continuing policy is to recognize interest and penalties related to income tax matters in income tax expense. | ||||||||||
Earnings Per Share | ' | |||||||||
Earnings per share | ||||||||||
Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options and restricted stock units (“RSUs”), is computed using the treasury stock method. | ||||||||||
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the years ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||
Years ended December 31, | ||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||
Weighted average shares outstanding-basic | 124,558 | 121,973 | 119,836 | |||||||
Plus: Common share equivalents | ||||||||||
Stock options, restricted stock units | 1,013 | 1,004 | 1,384 | |||||||
Weighted average shares outstanding-diluted | 125,571 | 122,977 | 121,220 | |||||||
Stock awards to acquire 43,640 shares, 986,503 shares, and 477,019 shares for the years ended December 31, 2013, 2012, and 2011 were excluded in the computations of diluted EPS because the effect of including the stock awards would have been anti-dilutive. | ||||||||||
On January 21, 2011, our Board of Directors declared a 3 for 2 stock split which was effected as a stock dividend, and paid on February 21, 2011, to stockholders of record on February 4, 2011. All per share data and numbers of common shares, where appropriate, have been retroactively adjusted to reflect the stock split. | ||||||||||
Stock-Based Compensation | ' | |||||||||
Stock-based compensation | ||||||||||
We account for stock-based compensation plans, which are more fully described in Note 11 – Authorized shares of common and preferred stock and stock-based compensation plans, using a fair-value method and recognize the expense in our Consolidated Statement of Income. | ||||||||||
Comprehensive Income | ' | |||||||||
Comprehensive income | ||||||||||
Our comprehensive income is comprised of net income, foreign currency translation and unrealized gains and losses on forward and option contracts and securities available-for-sale. Comprehensive income for 2013, 2012 and 2011 was $82.2 million, $94.5 million and $91.3 million, respectively. | ||||||||||
Recently Issued Accounting Pronouncements | ' | |||||||||
Recently Issued Accounting Pronouncements | ||||||||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income, which amends ASC 220, Comprehensive Income. The amended guidance requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. Additionally, entities are required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The amended guidance does not change the current requirements for reporting net income or other comprehensive income. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. We adopted this update in the first quarter of 2013. The adoption of ASU No. 2013-02 did not have a significant impact on the Company’s consolidated financial statements, but did amend the disclosures for accumulated other comprehensive income reclassified into income. | ||||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which amends ASC 740, Income Taxes. The amendments provide guidance on the financial statement presentation of an unrecognized tax benefit, as either a reduction of a deferred tax asset or as a liability, when a net operating loss carryforward, similar tax loss, or a tax credit carryforward exists. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 and may be applied on either a prospective or retrospective basis. The provisions are effective for the Company’s Form 10-K for the year ending December 31, 2014. We do not expect the adoption of these provisions to have a significant impact on the Company’s consolidated financial statements. | ||||||||||
Operations_And_Summary_Of_Sign2
Operations And Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | |||||||||
Schedule Of Allowance For Doubtful Accounts And Sales Returns | ' | |||||||||
(In thousands) | ||||||||||
Year | Description | Balance at Beginning of Period | Provisions/ | Write-Offs/ | Balance at End of Period | |||||
(Recapture) | (Recapture) | |||||||||
2011 | Allowance for doubtful accounts and sales returns | $ | 3,768 | $ | 385 | $ | -88 | $ | 4,241 | |
2012 | Allowance for doubtful accounts and sales returns | $ | 4,241 | $ | 1,216 | $ | 587 | $ | 4,870 | |
2013 | Allowance for doubtful accounts and sales returns | $ | 4,870 | $ | -43 | $ | 396 | $ | 4,431 | |
Adjustment For Excess And Obsolete Inventories | ' | |||||||||
(In thousands) | ||||||||||
Year | Description | Balance at Beginning of Period | Provisions | Write-Offs | Balance at End of Period | |||||
2011 | Adjustment for excess and obsolete inventories | $ | 3,340 | $ | 3,554 | $ | 2,689 | $ | 4,205 | |
2012 | Adjustment for excess and obsolete inventories | $ | 4,205 | $ | 1,824 | $ | 2,185 | $ | 3,844 | |
2013 | Adjustment for excess and obsolete inventories | $ | 3,844 | $ | 3,488 | $ | 1,873 | $ | 5,459 | |
Schedule Of Warranty Reserve | ' | |||||||||
(In thousands) | ||||||||||
2013 | 2012 | 2011 | ||||||||
Balance at the beginning of the period | $ | 1,435 | $ | 1,271 | $ | 921 | ||||
Accruals for warranties issued during the period | 3,737 | 2,270 | 2,954 | |||||||
Settlements made (in cash or in kind) during the period | -3,408 | -2,106 | -2,604 | |||||||
Balance at the end of the period | $ | 1,764 | $ | 1,435 | $ | 1,271 | ||||
Reconciliation Of The Denominators Used To Calculate Basic And Diluted EPS | ' | |||||||||
Years ended December 31, | ||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||
Weighted average shares outstanding-basic | 124,558 | 121,973 | 119,836 | |||||||
Plus: Common share equivalents | ||||||||||
Stock options, restricted stock units | 1,013 | 1,004 | 1,384 | |||||||
Weighted average shares outstanding-diluted | 125,571 | 122,977 | 121,220 | |||||||
Cash_Cash_Equivalents_And_Shor1
Cash, Cash Equivalents And Short-Term Investments (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Cash, Cash Equivalents And Short-Term Investments [Abstract] | ' | ||||||||||
Unrealized Gains And Losses Related To Short-Term Investments Designated As Available-For-Sale | ' | ||||||||||
(In thousands) | As of December 31, 2013 | ||||||||||
Gross | Gross | Cumulative | |||||||||
Adjusted Cost | Unrealized Gain | Unrealized Loss | Translation Adjustment | Fair Value | |||||||
Cash | $ | 142,058 | $ | - | $ | - | $ | - | $ | 142,058 | |
Money Market Accounts | 88,205 | - | - | - | 88,205 | ||||||
Municipal bonds | - | - | - | - | - | ||||||
Corporate bonds | 71,964 | 16 | -146 | -1,218 | 70,616 | ||||||
U.S. treasuries and agencies | 72,459 | 26 | - | - | 72,485 | ||||||
Foreign government bonds | 18,409 | - | -7 | -1,266 | 17,136 | ||||||
Time deposits | 2,912 | - | - | - | 2,912 | ||||||
Cash, cash equivalents, and short-term investments | $ | 396,007 | $ | 42 | $ | -153 | $ | -2,484 | $ | 393,412 | |
(In thousands) | As of December 31, 2012 | ||||||||||
Gross | Gross | Cumulative | |||||||||
Adjusted Cost | Unrealized Gain | Unrealized Loss | Translation Adjustment | Fair Value | |||||||
Cash | $ | 141,340 | $ | - | $ | - | $ | - | $ | 141,340 | |
Money Market Accounts | 20,656 | - | - | - | 20,656 | ||||||
Municipal bonds | 1,465 | 1 | - | - | 1,466 | ||||||
Corporate bonds | 8,708 | - | -20 | -910 | 7,778 | ||||||
U.S. treasuries and agencies | 135,953 | - | -28 | - | 135,925 | ||||||
Foreign government bonds | 27,947 | 57 | - | -2,919 | 25,085 | ||||||
Time deposits | 2,912 | - | - | - | 2,912 | ||||||
Cash, cash equivalents, and short-term investments | $ | 338,981 | $ | 58 | $ | -48 | $ | -3,829 | $ | 335,162 | |
Contractual Maturities Of Short-Term Investments Designated As Available-For-Sale | ' | ||||||||||
(In thousands) | As of December 31, 2013 | ||||||||||
Adjusted Cost | Fair Value | ||||||||||
Due in less than 1 year | $ | 93,472 | $ | 92,256 | |||||||
Due in 1 to 5 years | 72,272 | 70,893 | |||||||||
Total available-for-sale debt securities | $ | 165,744 | $ | 163,149 | |||||||
Due in less than 1 year | Adjusted Cost | Fair Value | |||||||||
Corporate bonds | $ | 8,537 | $ | 7,956 | |||||||
U.S. treasuries and agencies | 72,459 | 72,485 | |||||||||
Foreign government bonds | 9,564 | 8,903 | |||||||||
Time deposits | 2,912 | 2,912 | |||||||||
Total available-for-sale debt securities | $ | 93,472 | $ | 92,256 | |||||||
Due in 1 to 5 years | Adjusted Cost | Fair Value | |||||||||
Corporate bonds | 63,427 | 62,660 | |||||||||
U.S. treasuries and agencies | - | - | |||||||||
Foreign government bonds | 8,845 | 8,233 | |||||||||
Total available-for-sale debt securities | $ | 72,272 | $ | 70,893 | |||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Fair Value Measurements [Abstract] | ' | ||||||||
Assets And Liabilities Measured On Recurring Basis | ' | ||||||||
(In thousands) | Fair Value Measurements at Reporting Date Using | ||||||||
Description | 31-Dec-13 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||
Assets | |||||||||
Cash and cash equivalents available for sale: | |||||||||
Money Market Funds | $ | 88,205 | $ | 88,205 | $ | - | $ | - | |
Short-term investments available for sale: | |||||||||
Municipal bonds | - | - | - | - | |||||
Corporate bonds | 70,616 | - | 70,616 | - | |||||
U.S. treasuries and agencies | 72,485 | - | 72,485 | - | |||||
Foreign government bonds | 17,136 | - | 17,136 | - | |||||
Time deposits | 2,912 | 2,912 | - | - | |||||
Derivatives | 6,908 | - | 6,908 | - | |||||
Total Assets | $ | 258,262 | $ | 91,117 | $ | 167,145 | $ | - | |
Liabilities | |||||||||
Derivatives | $ | -4,742 | $ | - | $ | -4,742 | $ | - | |
Total Liabilities | $ | -4,742 | $ | - | $ | -4,742 | $ | - | |
(In thousands) | Fair Value Measurements at Reporting Date Using | ||||||||
Description | 31-Dec-12 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||
Assets | |||||||||
Cash and cash equivalents available for sale: | |||||||||
Money Market Funds | $ | 20,656 | $ | 20,656 | $ | - | $ | - | |
Short-term investments available for sale: | |||||||||
Municipal bonds | 1,466 | - | 1,466 | - | |||||
Corporate bonds | 7,778 | - | 7,778 | - | |||||
U.S. treasuries and agencies | 135,925 | - | 135,925 | - | |||||
Foreign government bonds | 25,085 | - | 25,085 | - | |||||
Time deposits | 2,912 | 2,912 | - | - | |||||
Derivatives | 4,246 | - | 4,246 | - | |||||
Total Assets | $ | 198,068 | $ | 23,568 | $ | 174,500 | $ | - | |
Liabilities | |||||||||
Derivatives | $ | -2,804 | $ | - | $ | -2,804 | $ | - | |
Total Liabilities | $ | -2,804 | $ | - | $ | -2,804 | $ | - | |
Derivative_Instruments_And_Hed1
Derivative Instruments And Hedging Activities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Derivative Instruments And Hedging Activities [Abstract] | ' | ||||||||
Summary Of Notional Amounts Of Derivative Instruments | ' | ||||||||
(In thousands) | US Dollar Equivalent | ||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||
Euro | $ | 75,886 | $ | 84,770 | |||||
Japanese yen | 23,284 | 42,209 | |||||||
Hungarian forint | 21,159 | 36,005 | |||||||
British pound | 14,869 | - | |||||||
Malaysian ringgit | 4,426 | - | |||||||
Total forward contracts notional amount | $ | 139,624 | $ | 162,984 | |||||
Fair Values Of Derivative Instruments On Consolidated Balance Sheets | ' | ||||||||
Asset Derivatives | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
(In thousands) | |||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
Derivatives designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Prepaid expenses and other current assets | $ | 4,825 | Prepaid expenses and other current assets | $ | 2,956 | |||
Foreign exchange contracts - LT forwards | Other long-term assets | 1,719 | Other long-term assets | 1,046 | |||||
Total derivatives designated as hedging instruments | $ | 6,544 | $ | 4,002 | |||||
Derivatives not designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Prepaid expenses and other current assets | $ | 364 | Prepaid expenses and other current assets | $ | 244 | |||
Total derivatives not designated as hedging instruments | $ | 364 | $ | 244 | |||||
Total derivatives | $ | 6,908 | $ | 4,246 | |||||
Liability Derivatives | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
(In thousands) | |||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
Derivatives designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Accrued expenses and other liabilities | $ | -3,350 | Accrued expenses and other liabilities | $ | -1,292 | |||
Foreign exchange contracts - LT forwards | Other long-term liabilities | - | Other long-term liabilities | -798 | |||||
Total derivatives designated as hedging instruments | $ | -3,350 | $ | -2,090 | |||||
Derivatives not designated as hedging instruments | |||||||||
Foreign exchange contracts - ST forwards | Accrued expenses and other liabilities | $ | -1,392 | Accrued expenses and other liabilities | $ | -714 | |||
Total derivatives not designated as hedging instruments | $ | -1,392 | $ | -714 | |||||
Total derivatives | $ | -4,742 | $ | -2,804 | |||||
Effect Of Derivative Instruments On Consolidated Statements Of Income | ' | ||||||||
The following tables present the effect of derivative instruments on our Consolidated Statements of Income for the years ended December 31, 2013 and 2012, respectively: | |||||||||
31-Dec-13 | |||||||||
(In thousands) | |||||||||
Derivatives in Cash Flow Hedging Relationship | Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | ||||
Foreign exchange contracts - forwards and options | $ | -178 | Net sales | $ | 3,173 | Net foreign exchange gain (loss) | $ | - | |
Foreign exchange contracts - forwards and options | 985 | Cost of sales | 118 | Net foreign exchange gain (loss) | - | ||||
Foreign exchange contracts - forwards and options | 431 | Operating expenses | 87 | Net foreign exchange gain (loss) | - | ||||
Total | $ | 1,238 | $ | 3,378 | $ | - | |||
31-Dec-12 | |||||||||
(In thousands) | |||||||||
Derivatives in Cash Flow Hedging Relationship | Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | ||||
Foreign exchange contracts - forwards and options | $ | 30 | Net sales | $ | 2,852 | Net foreign exchange gain (loss) | $ | - | |
Foreign exchange contracts - forwards and options | 2,036 | Cost of sales | 402 | Net foreign exchange gain (loss) | - | ||||
Foreign exchange contracts - forwards and options | 1,086 | Operating expenses | 259 | Net foreign exchange gain (loss) | - | ||||
Total | $ | 3,152 | $ | 3,513 | $ | - | |||
(In thousands) | |||||||||
Derivatives not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income | Amount of Gain (Loss) Recognized in Income | Amount of Gain (Loss) Recognized in Income | ||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Foreign exchange contracts - forwards | Net foreign exchange (loss)/gain | $ | -267 | $ | -2,076 | ||||
Total | $ | -267 | $ | -2,076 | |||||
Gains or losses recognized in OCI on the effective portion of our derivatives are reported net of gains or losses reclassified from accumulated OCI into income. | |||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Inventories [Abstract] | ' | ||||
Summary Of Inventories | ' | ||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | |||
Raw materials | $ | 81,574 | $ | 78,244 | |
Work-in-process | 4,958 | 8,566 | |||
Finished goods | 85,577 | 83,180 | |||
$ | 172,109 | $ | 169,990 | ||
Property_And_Equipment_Tables
Property And Equipment (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Property And Equipment [Abstract] | ' | ||||
Property And Equipment | ' | ||||
December 31, | December 31, | ||||
(In thousands) | 2013 | 2012 | |||
Land | $ | 32,959 | $ | 27,751 | |
Buildings | 206,674 | 203,879 | |||
Furniture and equipment | 272,795 | 240,413 | |||
512,428 | 472,043 | ||||
Accumulated depreciation | -251,860 | -222,322 | |||
$ | 260,568 | $ | 249,721 | ||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Intangible Assets [Abstract] | ' | ||||||||||||
Schedule Of Finite-Lived Intangible Assets | ' | ||||||||||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||
Capitalized software development costs | $ | 48,947 | $ | -25,706 | $ | 23,241 | $ | 45,064 | $ | -23,450 | $ | 21,614 | |
Acquired technology | 89,446 | -54,253 | 35,193 | 89,876 | -42,562 | 47,314 | |||||||
Patents | 26,070 | -11,045 | 15,025 | 24,046 | -9,398 | 14,648 | |||||||
Other | 28,517 | -19,666 | 8,851 | 27,421 | -17,084 | 10,337 | |||||||
$ | 192,980 | $ | -110,670 | $ | 82,310 | $ | 186,407 | $ | -92,494 | $ | 93,913 | ||
Estimated Future Amortization Expense Related To Intangible Assets | ' | ||||||||||||
Amount | |||||||||||||
(In thousands) | |||||||||||||
2014 | $ | 32,972 | |||||||||||
2015 | 23,050 | ||||||||||||
2016 | 12,580 | ||||||||||||
2017 | 5,521 | ||||||||||||
2018 | 785 | ||||||||||||
Thereafter | 7,402 | ||||||||||||
$ | 82,310 | ||||||||||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Goodwill [Abstract] | ' | ||
Schedule Of Goodwill | ' | ||
Amount | |||
(In thousands) | |||
Balance as of December 31, 2011 | $ | 130,747 | |
Purchase price adjustments | -1,623 | ||
Acquisitions | 17,987 | ||
Foreign currency translation impact | 147 | ||
Balance as of December 31, 2012 | $ | 147,258 | |
Purchase price adjustments | -1,463 | ||
Foreign currency translation impact | 725 | ||
Balance as of December 31, 2013 | $ | 146,520 | |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Income Taxes [Abstract] | ' | ||||||
Components Of Income Before Income Taxes | ' | ||||||
(In thousands) | Years Ended December 31, | ||||||
2013 | 2012 | 2011 | |||||
Domestic | $ | 41,315 | $ | 24,100 | $ | 6,488 | |
Foreign | 55,853 | 90,737 | 104,646 | ||||
$ | 97,168 | $ | 114,837 | $ | 111,134 | ||
Provision for Income Taxes Charged To Operations | ' | ||||||
(In thousands) | Years Ended December 31, | ||||||
2013 | 2012 | 2011 | |||||
Current tax expense: | |||||||
U.S. federal | $ | 27,161 | $ | 24,538 | $ | 19,381 | |
State | 813 | 1,217 | 1,180 | ||||
Foreign | 4,917 | 10,544 | 8,568 | ||||
Total current | $ | 32,891 | $ | 36,299 | $ | 29,129 | |
Deferred tax expense (benefit): | |||||||
U.S. federal | $ | -15,401 | $ | -10,305 | $ | -12,790 | |
State | -473 | 53 | -234 | ||||
Foreign | -362 | -1,347 | 957 | ||||
Total deferred | $ | -16,236 | $ | -11,599 | $ | -12,067 | |
Change in valuation allowance | - | - | - | ||||
Total provision | $ | 16,655 | $ | 24,700 | $ | 17,062 | |
Deferred Tax Liabilities (Assets) | ' | ||||||
(In thousands) | December 31, | ||||||
2013 | 2012 | ||||||
Capitalized software | $ | 7,748 | $ | 7,432 | |||
Depreciation and amortization | 15,550 | 15,404 | |||||
Intangible assets | 18,843 | 9,920 | |||||
Unrealized gain on derivative instruments | 898 | 709 | |||||
Undistributed earnings of foreign subsidiaries | 8,565 | 8,437 | |||||
Gross deferred tax liabilties | 51,604 | 41,902 | |||||
Operating loss carryforwards | -108,297 | -86,285 | |||||
Vacation and other accruals | -5,147 | -5,895 | |||||
Inventory valuation and warranty provisions | -12,813 | -11,773 | |||||
Doubtful accounts and sales provisions | -1,101 | -1,229 | |||||
Unrealized exchange loss | -2,192 | -1,664 | |||||
Deferred revenue | -7,809 | -3,987 | |||||
Accrued rent expenses | -453 | -219 | |||||
10% minority stock investment | -908 | -932 | |||||
Stock-based compensation | -6,069 | -5,471 | |||||
Research and development tax credit carryforward | -2,758 | -2,421 | |||||
Foreign tax credit carryforward | -4 | - | |||||
Other | -444 | -561 | |||||
Gross deferred tax assets | -147,995 | -120,437 | |||||
Valuation allowance | 103,778 | 91,649 | |||||
Net deferred tax liability | $ | 7,387 | $ | 13,114 | |||
Reconciliation Of Income Taxes At The U.S. Federal Statutory Income Tax Rate To Effective Tax Rate | ' | ||||||
Years Ended December 31, | |||||||
2013 | 2012 | 2011 | |||||
U.S. federal statutory rate | 35 | % | 35 | % | 35 | % | |
Foreign taxes greater (less) than federal statutory rate | 2 | -5 | -7 | ||||
Research and development tax credits | -7 | - | -3 | ||||
Enhanced deduction for certain research and development expenses | -13 | -15 | -16 | ||||
State income taxes, net of federal tax benefit | 1 | 1 | 1 | ||||
Employee share-based compensation | - | 2 | 1 | ||||
Intercompany profit | -2 | 2 | 3 | ||||
Nondeductible acquisition costs | - | 2 | - | ||||
Domestic production activities deduction | -1 | - | - | ||||
Other | 2 | - | 1 | ||||
Effective tax rate | 17 | % | 22 | % | 15 | % | |
Reconciliation Of Beginning And Ending Amount Of Unreecognized Tax Benefit | ' | ||||||
(In thousands) | 2013 | 2012 | |||||
Balance at beginning of period | $ | 20,920 | $ | 19,494 | |||
Additions based on tax positions related to the current year | 3,290 | 3,150 | |||||
Additions for tax positions of prior years | 337 | 1,764 | |||||
Reductions as a result of settlement with taxing authorities | -975 | -285 | |||||
Reductions as a result the lapse of the applicable statute of limitations | - | -2,256 | |||||
Reduction for tax positions of prior years | - | -947 | |||||
Balance at end of period | $ | 23,572 | $ | 20,920 | |||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Comprehensive Income [Abstract] | ' | ||||||||
Schedule Of Comprehensive Income | ' | ||||||||
31-Dec-13 | |||||||||
(In thousands) | Currency translation adjustment | Investments | Derivative instruments | Accumulated other comprehensive income | |||||
Balance as of December 31, 2012 | $ | 208 | $ | -620 | $ | 1,256 | $ | 844 | |
Current-period other comprehensive income | 1,332 | -538 | 4,616 | 5,410 | |||||
Reclassified from accumulated OCI into income | - | - | -3,378 | -3,378 | |||||
Income tax expense | -229 | 92 | -189 | -326 | |||||
Balance as of December 31, 2013 | $ | 1,311 | $ | -1,066 | $ | 2,305 | $ | 2,550 | |
31-Dec-12 | |||||||||
(In thousands) | Currency translation adjustment | Investments | Derivative instruments | Accumulated other comprehensive income | |||||
Balance as of December 31, 2011 | $ | -1,543 | $ | -664 | $ | -1,293 | $ | -3,500 | |
Current-period other comprehensive income | 2,231 | 56 | 6,665 | 8,952 | |||||
Reclassified from accumulated OCI into income | - | - | -3,513 | -3,513 | |||||
Income tax expense | -480 | -12 | -603 | -1,095 | |||||
Balance as of December 31, 2012 | $ | 208 | $ | -620 | $ | 1,256 | $ | 844 | |
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans [Abstract] | ' | |||||||||||
Schedule Of Stock Option Plans | ' | |||||||||||
Number of shares under option | Weighted average exercise price | |||||||||||
Outstanding at December 31, 2010 | 2,334,448 | $ | 17.15 | |||||||||
Exercised | -932,895 | $ | 15.94 | |||||||||
Canceled | -84,337 | $ | 16.23 | |||||||||
Granted | - | $ | - | |||||||||
Outstanding at December 31, 2011 | 1,317,216 | $ | 18.07 | |||||||||
Exercised | -237,146 | $ | 16.59 | |||||||||
Canceled | -26,945 | $ | 17.07 | |||||||||
Granted | - | $ | - | |||||||||
Outstanding at December 31, 2012 | 1,053,125 | $ | 18.44 | |||||||||
Exercised | -713,737 | $ | 18.36 | |||||||||
Canceled | -51,980 | $ | 18.47 | |||||||||
Granted | - | $ | - | |||||||||
Outstanding at December 31, 2013 | 287,408 | $ | 18.62 | |||||||||
Options exercisable at December 31: | ||||||||||||
2011 | 1,270,775 | $ | 18.06 | |||||||||
2012 | 1,034,559 | $ | 18.44 | |||||||||
2013 | 275,643 | $ | 18.56 | |||||||||
Schedule Of Options Outstanding And Exercisable By Price Range | ' | |||||||||||
Outstanding and Exercisable by Price Range as of December 31, 2013 | ||||||||||||
Options Outstanding | Options Exercisable | |||||||||||
Range of Exercise Prices | Number outstanding as of 12/31/2013 | Weighted average remaining contractual life | Weighted average exercise price | Number exerciseable as of 12/31/2013 | Weighted average exercise price | |||||||
$ | 14.63 - 15.09 | 69,180 | 1.29 | $ | 15.08 | 69,167 | $ | 15.08 | ||||
$ | 17.01 - 19.51 | 39,863 | 0.80 | $ | 18.95 | 39,863 | $ | 18.95 | ||||
$ | 19.90 - 21.65 | 178,365 | 0.23 | $ | 19.91 | 166,613 | $ | 19.92 | ||||
$ | 14.63 - 21.65 | 287,408 | 0.56 | $ | 18.62 | 275,643 | $ | 18.56 | ||||
Schedule Of Restricted Stock Plans | ' | |||||||||||
RSUs | ||||||||||||
Number of RSUs | Weighted average grant price | |||||||||||
Outstanding at December 31, 2010 | 2,996,297 | $ | 17.97 | |||||||||
Granted | 1,370,666 | $ | 30.14 | |||||||||
Earned | -860,598 | $ | 18.20 | |||||||||
Canceled | -84,843 | $ | 20.85 | |||||||||
Outstanding at December 31, 2011 | 3,421,522 | $ | 22.75 | |||||||||
Granted | 1,311,105 | $ | 26.81 | |||||||||
Earned | -841,918 | $ | 20.41 | |||||||||
Canceled | -85,435 | $ | 24.66 | |||||||||
Outstanding at December 31, 2012 | 3,805,274 | $ | 24.62 | |||||||||
Granted | 764,315 | $ | 29.50 | |||||||||
Earned | -906,214 | $ | 22.25 | |||||||||
Canceled | -156,813 | $ | 25.99 | |||||||||
Outstanding at December 31, 2013 | 3,506,562 | $ | 26.23 | |||||||||
Schedule Of Employee Stock Purchase Plan | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Dividend expense yield | 0.5% | 0.5% | 0.4% | |||||||||
Expected life | 3 months | 3 months | 3 months | |||||||||
Expected volatility | 25% | 40% | 44% | |||||||||
Risk-free interest rate | 0.1% | 0.1% | 0.1% | |||||||||
Schedule Of Weighted Average Grant Date Fair Value Of Purchase Rights Granted Under Employee Stock Purchase Plan | ' | |||||||||||
Number of Shares | Weighted average fair value | |||||||||||
2011 | 940,703 | $ | 6.56 | |||||||||
2012 | 1,122,483 | $ | 5.93 | |||||||||
2013 | 1,191,599 | $ | 5.64 | |||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Segment Information [Abstract] | ' | ||||||
Schedule Of Net Sales, Operating Income, Interest Income And Long-Lived Assets By Major Geographical Areas | ' | ||||||
(In thousands) | Years ended December 31, | ||||||
2013 | 2012 | 2011 | |||||
Net sales: | |||||||
Americas | $ | 483,604 | $ | 454,616 | $ | 411,006 | |
Europe | 318,179 | 297,572 | 308,619 | ||||
East Asia | 260,100 | 282,512 | 215,500 | ||||
Emerging Markets | 110,675 | 108,992 | 89,048 | ||||
$ | 1,172,558 | $ | 1,143,692 | $ | 1,024,173 | ||
Years ended December 31, | |||||||
2013 | 2012 | 2011 | |||||
Operating income: | |||||||
Americas | $ | 56,054 | $ | 41,266 | $ | 55,140 | |
Europe | 132,768 | 135,600 | 142,533 | ||||
East Asia | 106,586 | 125,879 | 85,005 | ||||
Emerging Markets | 38,005 | 37,183 | 29,105 | ||||
Unallocated: | |||||||
Research and development expenses | -234,796 | -222,994 | -199,071 | ||||
$ | 98,617 | $ | 116,934 | $ | 112,712 | ||
Years ended December 31, | |||||||
2013 | 2012 | 2011 | |||||
Interest income: | |||||||
Americas | $ | 51 | $ | 177 | $ | 408 | |
Europe | 536 | 432 | 771 | ||||
East Asia | 28 | 23 | 23 | ||||
Emerging Markets | 64 | 84 | 117 | ||||
$ | 679 | $ | 716 | $ | 1,319 | ||
December 31, | |||||||
2013 | 2012 | ||||||
Property and equipment, net: | |||||||
Americas | $ | 120,829 | $ | 120,329 | |||
Europe | 51,038 | 48,465 | |||||
East Asia | 4,162 | 3,428 | |||||
Emerging Markets | 84,539 | 77,499 | |||||
$ | 260,568 | $ | 249,721 | ||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Commitments And Contingencies [Abstract] | ' | ||
Future Minimum Lease Payments | ' | ||
Amount | |||
(In thousands) | |||
2014 | $ | 19,786 | |
2015 | 16,664 | ||
2016 | 11,319 | ||
2017 | 7,181 | ||
2018 | 5,545 | ||
Thereafter | 6,031 | ||
$ | 66,526 | ||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Summary Of The Allocation Of The Purchase Price Of Acquisitions | ' | ||
Amount | |||
(In thousands) | |||
Net tangible assets acquired | $ | 9,563 | |
Amortizable intangible assets | 24,136 | ||
Deferred tax liability | -7,899 | ||
Goodwill | 16,524 | ||
Total | $ | 42,324 | |
AWR Corporation [Member] | ' | ||
Summary Of The Allocation Of The Purchase Price Of Acquisitions | ' | ||
Amount | |||
(In thousands) | |||
Net tangible assets acquired | $ | 10,718 | |
Amortizable intangible assets | 31,685 | ||
Deferred tax liability | -8,387 | ||
Goodwill | 32,379 | ||
Total | $ | 66,395 | |
Phase Matrix Inc. [Member] | ' | ||
Summary Of The Allocation Of The Purchase Price Of Acquisitions | ' | ||
Amount | |||
(In thousands) | |||
Net tangible assets acquired | $ | 5,624 | |
Amortizable intangible assets | 8,331 | ||
Goodwill | 26,725 | ||
Total | $ | 40,680 | |
Operations_And_Summary_Of_Sign3
Operations And Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
segment | ||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Maximum contractual maturity period of short-term investments available for sale (in months) | '35 months | ' | ' | ' |
Maximum remaining maturity period of sovereign debt | '18 months | ' | ' | ' |
Fair value of short-term investments in debt securities | $163,149,000 | $173,166,000 | ' | ' |
Net sale of short-term investments | 10,000,000 | ' | ' | ' |
German government sovereign debt, in USD | 17,000,000 | ' | ' | ' |
Allowances for sales returns | 1,600,000 | 2,100,000 | ' | ' |
Allowances for doubtful accounts | 2,800,000 | 2,800,000 | ' | ' |
Cumulative net adjustment for excess and obsolete inventories | 5,459,000 | 3,844,000 | 4,205,000 | 3,340,000 |
Number of operating segments | 1 | ' | ' | ' |
Cash and cash equivalents | 230,263,000 | 161,996,000 | 142,608,000 | 219,447,000 |
Investment policy for marketable securities | 'Our investment policy for marketable securities requires that all securities mature in three years or less, with a weighted average maturity of no longer than 18 months with at least 10% maturing in 90 days or less. | ' | ' | ' |
Maximum maturity period for marketable securities | '3 years | ' | ' | ' |
Maximum weighted-average maturity period | '18 months | ' | ' | ' |
Minimum percentage maturing in 90 days or less | 10.00% | ' | ' | ' |
Maturity period | '90 days | ' | ' | ' |
Percentage of sales to any individual customer to total revenue | 3.00% | 7.00% | 4.00% | ' |
Largest trade account receivable from any individual customer | 6,100,000 | ' | ' | ' |
Licensing and sales arrangement payment term, minimum (in days) | '30 days | ' | ' | ' |
Concentrated orders | 1,000,000 | ' | ' | ' |
Licensing and sales arrangement payment term, maximum (in days) | '120 days | ' | ' | ' |
Maximum period of return after delivering of product (in days) | '30 days | ' | ' | ' |
Warranty on products, minimum (in days) | '90 days | ' | ' | ' |
Warranty on Products, maximum (in years) | '3 years | ' | ' | ' |
Advertising expense | 13,700,000 | 14,400,000 | 14,700,000 | ' |
Anti-dilutive securities excluded from the computation of diluted EPS | 43,640 | 986,503 | 477,019 | ' |
Stock split conversion ratio | 1.5 | ' | ' | ' |
Date of declaration of stock split | 21-Feb-11 | ' | ' | ' |
Comprehensive income | 82,219,000 | 94,481,000 | 91,282,000 | ' |
Operating Account [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 142,000,000 | ' | ' | ' |
Percentage of cash and cash equivalents | 62.00% | ' | ' | ' |
Money Market Accounts [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 88,000,000 | ' | ' | ' |
Percentage of cash and cash equivalents | 38.00% | ' | ' | ' |
Domestic Financial Institutions [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 69,000,000 | ' | ' | ' |
Percentage of cash and cash equivalents | 30.00% | ' | ' | ' |
Non U.S. Financial Institutions [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 161,000,000 | ' | ' | ' |
Percentage of cash and cash equivalents | 70.00% | ' | ' | ' |
Foreign Government Bonds [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Fair value of short-term investments in debt securities | 17,000,000 | ' | ' | ' |
Percentage of short-term investments | 11.00% | ' | ' | ' |
U.S. Treasuries And Agencies [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Fair value of short-term investments in debt securities | 72,000,000 | ' | ' | ' |
Percentage of short-term investments | 44.00% | ' | ' | ' |
Corporate Bonds Denominated In Euros [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Fair value of short-term investments in debt securities | 16,000,000 | ' | ' | ' |
Corporate Bonds [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Fair value of short-term investments in debt securities | 71,000,000 | ' | ' | ' |
Percentage of short-term investments | 43.00% | ' | ' | ' |
Time Deposits [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Fair value of short-term investments in debt securities | 3,000,000 | ' | ' | ' |
Percentage of short-term investments | 2.00% | ' | ' | ' |
Wells Fargo Operating Account [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $15,000,000 | ' | ' | ' |
Percentage of cash and cash equivalents | 6.00% | ' | ' | ' |
Minimum [Member] | Buildings [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives of assets | '20 years | ' | ' | ' |
Minimum [Member] | Furniture And Equipment [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives of assets | '3 years | ' | ' | ' |
Minimum [Member] | Patents [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life | '10 years | ' | ' | ' |
Maximum [Member] | Buildings [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives of assets | '40 years | ' | ' | ' |
Maximum [Member] | Furniture And Equipment [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives of assets | '7 years | ' | ' | ' |
Maximum [Member] | Patents [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life | '17 years | ' | ' | ' |
Weighted Average [Member] | Patents [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life | '4 years | ' | ' | ' |
Operations_And_Summary_Of_Sign4
Operations And Summary Of Significant Accounting Policies (Schedule Of Allowance For Doubtful Accounts And Sales Returns) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | ' | ' |
Balance at Beginning of Period | $4,870 | $4,241 | $3,768 |
Provisions/(Recapture) | -43 | 1,216 | 385 |
Write-Offs/(Recapture) | 396 | 587 | -88 |
Balance at End of Period | $4,431 | $4,870 | $4,241 |
Operations_And_Summary_Of_Sign5
Operations And Summary Of Significant Accounting Policies (Adjustment For Excess And Obsolete Inventories) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | ' | ' |
Balance at Beginning of Period | $3,844 | $4,205 | $3,340 |
Provisions | 3,488 | 1,824 | 3,554 |
Write-Offs | 1,873 | 2,185 | 2,689 |
Balance at End of Period | $5,459 | $3,844 | $4,205 |
Operations_And_Summary_Of_Sign6
Operations And Summary Of Significant Accounting Policies (Schedule Of Warranty Reserve) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | ' | ' |
Balance at the beginning of the period | $1,435 | $1,271 | $921 |
Accruals for warranties issued during the period | 3,737 | 2,270 | 2,954 |
Settlements made (in cash or in kind) during the period | 3,408 | 2,106 | 2,604 |
Balance at the end of the period | $1,764 | $1,435 | $1,271 |
Operations_And_Summary_Of_Sign7
Operations And Summary Of Significant Accounting Policies (Reconciliation Of Denominators Used To Calculate Basic And Diluted EPS) (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operations And Summary Of Significant Accounting Policies [Abstract] | ' | ' | ' |
Weighted average shares outstanding-basic | 124,558 | 121,973 | 119,836 |
Plus: Common share equivalents Stock options, restricted stock units | 1,013 | 1,004 | 1,384 |
Weighted average shares outstanding-diluted | 125,571 | 122,977 | 121,220 |
Cash_Cash_Equivalents_And_Shor2
Cash, Cash Equivalents And Short-Term Investments (Unrealized Gains And Losses Related To Short-Term Investments Designated As Available-For-Sale) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | $396,007 | $338,981 |
Gross Unrealized Gain | 42 | 58 |
Gross Unrealized Loss | -153 | -48 |
Cumulative Translation Adjustment | -2,484 | -3,829 |
Fair Value | 393,412 | 335,162 |
Cash [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 142,058 | 141,340 |
Fair Value | 142,058 | 141,340 |
Money Market Accounts [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 88,205 | 20,656 |
Fair Value | 88,205 | 20,656 |
Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | ' | 1,465 |
Gross Unrealized Gain | ' | 1 |
Fair Value | ' | 1,466 |
Corporate Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 71,964 | 8,708 |
Gross Unrealized Gain | 16 | ' |
Gross Unrealized Loss | -146 | -20 |
Cumulative Translation Adjustment | -1,218 | -910 |
Fair Value | 70,616 | 7,778 |
U.S. Treasuries And Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 72,459 | 135,953 |
Gross Unrealized Gain | 26 | ' |
Gross Unrealized Loss | ' | -28 |
Fair Value | 72,485 | 135,925 |
Foreign Government Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 18,409 | 27,947 |
Gross Unrealized Gain | ' | 57 |
Gross Unrealized Loss | -7 | ' |
Cumulative Translation Adjustment | -1,266 | -2,919 |
Fair Value | 17,136 | 25,085 |
Time Deposits [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 2,912 | 2,912 |
Fair Value | $2,912 | $2,912 |
Cash_Cash_Equivalents_And_Shor3
Cash, Cash Equivalents And Short-Term Investments (Contractual Maturities Of Short-Term Investments Designated As Available-For-Sale) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Adjusted Cost, Due in less than 1 year | $93,472 |
Fair Value, Due in less than 1 year | 92,256 |
Adjusted Cost, Due in 1 to 5 years | 72,272 |
Fair Value, Due in 1 to 5 years | 70,893 |
Adjusted Cost, Total | 165,744 |
Fair Value, Total | 163,149 |
Corporate Bonds [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Adjusted Cost, Due in less than 1 year | 8,537 |
Fair Value, Due in less than 1 year | 7,956 |
Adjusted Cost, Due in 1 to 5 years | 63,427 |
Fair Value, Due in 1 to 5 years | 62,660 |
U.S. Treasuries And Agencies [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Adjusted Cost, Due in less than 1 year | 72,459 |
Fair Value, Due in less than 1 year | 72,485 |
Foreign Government Bonds [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Adjusted Cost, Due in less than 1 year | 9,564 |
Fair Value, Due in less than 1 year | 8,903 |
Adjusted Cost, Due in 1 to 5 years | 8,845 |
Fair Value, Due in 1 to 5 years | 8,233 |
Time Deposits [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Adjusted Cost, Due in less than 1 year | 2,912 |
Fair Value, Due in less than 1 year | $2,912 |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
item | item | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | $393,412 | $335,162 |
Derivatives | 6,908 | 4,246 |
Total Assets | 258,262 | 198,068 |
Derivatives | -4,742 | -2,804 |
Total Liabilities | -4,742 | -2,804 |
Maximum remaining maturity period of sovereign debt | '18 months | ' |
Number of items measured at fair value on a nonrecurring basis | 0 | 0 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 91,117 | 23,568 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivatives | 6,908 | 4,246 |
Total Assets | 167,145 | 174,500 |
Derivatives | -4,742 | -2,804 |
Total Liabilities | -4,742 | -2,804 |
Money Market Accounts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 88,205 | 20,656 |
Money Market Accounts [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 88,205 | 20,656 |
Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | ' | 1,466 |
Municipal Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | ' | 1,466 |
Corporate Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 70,616 | 7,778 |
Corporate Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 70,616 | 7,778 |
U.S. Treasuries And Agencies Available For Sale Securities Portion [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 72,485 | 135,925 |
U.S. Treasuries And Agencies Available For Sale Securities Portion [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 72,485 | 135,925 |
Foreign Government Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 17,136 | 25,085 |
Foreign Government Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 17,136 | 25,085 |
Time Deposits [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Assets | 2,912 | 2,912 |
Time deposits | 2,912 | 2,912 |
Time Deposits [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Time deposits | $2,912 | $2,912 |
Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Contractual maturities of short-term investments | '35 months | ' |
Derivative_Instruments_And_Hed2
Derivative Instruments And Hedging Activities (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
country | |||
Derivative [Line Items] | ' | ' | ' |
Minimum number of countries for which entity has operations | 50 | ' | ' |
Percentage of sales outside of the Americas during the period | 59.00% | 60.00% | 60.00% |
Period of protection against the reduction in value caused by a fluctuation, minimum (in number of years) | '1 year | ' | ' |
Period of protection against the reduction in value caused by a fluctuation, maximum (in number of years) | '3 years | ' | ' |
Duration of derivative contracts entered into by the entity to hedge risk of loss | '36 months | ' | ' |
Forward Contracts [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Estimated amount of reclassification of gains on derivative instruments from accumulated other comprehensive income to net sales | 157,000 | ' | ' |
Estimated amount of reclassification of losses on derivative instruments from accumulated other comprehensive income to cost of sales | 910,000 | ' | ' |
Estimated amount of reclassification of gains on derivative instruments from accumulated other comprehensive income to operating expenses | 409,000 | ' | ' |
Other Derivatives [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Foreign currency forward contracts notional amount | 70,000,000 | 69,000,000 | ' |
Maximum [Member] | Forward Contracts [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Percentage of derivative risk hedged | 100.00% | ' | ' |
Duration of derivative contracts entered into by the entity to hedge risk of loss | '40 months | ' | ' |
Maximum [Member] | Other Derivatives [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Percentage of derivative risk hedged | 90.00% | ' | ' |
Duration of derivative contracts entered into by the entity to hedge risk of loss | '120 days | ' | ' |
Derivative_Instruments_And_Hed3
Derivative Instruments And Hedging Activities (Summary Of Notional Amounts Of Derivative Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Total forward contracts notional amount | $139,624 | $162,984 |
Euro Member Countries, Euro [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total forward contracts notional amount | 75,886 | 84,770 |
Japan, Yen [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total forward contracts notional amount | 23,284 | 42,209 |
Hungary, Forint [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total forward contracts notional amount | 21,159 | 36,005 |
United Kingdom, Pounds [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total forward contracts notional amount | 14,869 | ' |
Malaysia, Ringgits [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Total forward contracts notional amount | $4,426 | ' |
Derivative_Instruments_And_Hed4
Derivative Instruments And Hedging Activities (Fair Values Of Derivative Instruments On Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | $6,908 | $4,246 |
Derivative liabilities | -4,742 | -2,804 |
Derivatives Designated As Hedging Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 6,544 | 4,002 |
Derivative liabilities | -3,350 | -2,090 |
Derivatives Designated As Hedging Instruments [Member] | Foreign Exchange Contract - Short-Term [Member] | Prepaid Expenses And Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 4,825 | 2,956 |
Derivatives Designated As Hedging Instruments [Member] | Foreign Exchange Contract - Short-Term [Member] | Accrued Expenses And Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | -3,350 | -1,292 |
Derivatives Designated As Hedging Instruments [Member] | Foreign Exchange Contracts - Long-Term [Member] | Other Long-Term Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 1,719 | 1,046 |
Derivatives Designated As Hedging Instruments [Member] | Foreign Exchange Contracts - Long-Term [Member] | Other Long-Term Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | ' | -798 |
Derivatives Not Designated As Hedging Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 364 | 244 |
Derivative liabilities | -1,392 | -714 |
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange Contract - Short-Term [Member] | Prepaid Expenses And Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets | 364 | 244 |
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange Contract - Short-Term [Member] | Accrued Expenses And Other Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities | ($1,392) | ($714) |
Derivative_Instruments_And_Hed5
Derivative Instruments And Hedging Activities (Fair Values Of Derivative Instruments On Consolidated Statements Of Income) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flow Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | $1,238 | $3,152 |
Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 3,378 | 3,513 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts - Forwards And Options [Member] | Net Sales [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | -178 | 30 |
Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 3,173 | 2,852 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts - Forwards And Options [Member] | Cost Of Sales [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | 985 | 2,036 |
Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 118 | 402 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts - Forwards And Options [Member] | Operating Expense [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | 431 | 1,086 |
Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 87 | 259 |
Derivatives Not Designated As Hedging Instruments [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain (Loss) Recognized in Income | -267 | -2,076 |
Derivatives Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts - Forwards And Options [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain (Loss) Recognized in Income | ($267) | ($2,076) |
Property_And_Equipment_Schedul
Property And Equipment (Schedule Of Property And Equipment) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property And Equipment [Abstract] | ' | ' | ' |
Land | $32,959,000 | $27,751,000 | ' |
Buildings | 206,674,000 | 203,879,000 | ' |
Furniture and equipment | 272,795,000 | 240,413,000 | ' |
Property and equipment, gross | 512,428,000 | 472,043,000 | ' |
Accumulated depreciation | -251,860,000 | -222,322,000 | ' |
Total property and equipment | 260,568,000 | 249,721,000 | ' |
Depreciation expense | $36,000,000 | $31,000,000 | $25,000,000 |
Inventories_Summary_Of_Invento
Inventories (Summary Of Inventories) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw materials | $81,574 | $78,244 |
Work-in-process | 4,958 | 8,566 |
Finished goods | 85,577 | 83,180 |
Inventories, net | $172,109 | $169,990 |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total intangible assets amortization expenses | $32,000,000 | $28,000,000 | $25,000,000 |
Capitalized Software Development Costs [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Capitalized software development costs | 15,600,000 | 12,200,000 | 12,600,000 |
Capitalized computer software amortization | 14,000,000 | 14,100,000 | 13,400,000 |
Costs related to stock based compensation | $742,000 | $519,000 | $539,000 |
Useful life (in years) | '3 years | ' | ' |
Minimum [Member] | Acquired Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '3 years | ' | ' |
Minimum [Member] | Patents [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '10 years | ' | ' |
Maximum [Member] | Acquired Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '8 years | ' | ' |
Maximum [Member] | Patents [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '17 years | ' | ' |
Weighted Average [Member] | Capitalized Software Development Costs [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '1 year 9 months 18 days | ' | ' |
Weighted Average [Member] | Acquired Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '2 years 1 month 6 days | ' | ' |
Weighted Average [Member] | Patents [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '4 years | ' | ' |
Weighted Average [Member] | Other [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Useful life (in years) | '2 years 3 months 18 days | ' | ' |
Intangible_Assets_Schedule_Of_
Intangible Assets (Schedule Of Finite-Lived Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $192,980 | $186,407 |
Accumulated Amortization | -110,670 | -92,494 |
Net Carrying Amount | 82,310 | 93,913 |
Capitalized Software Development Costs [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 48,947 | 45,064 |
Accumulated Amortization | -25,706 | -23,450 |
Net Carrying Amount | 23,241 | 21,614 |
Acquired Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 89,446 | 89,876 |
Accumulated Amortization | -54,253 | -42,562 |
Net Carrying Amount | 35,193 | 47,314 |
Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 26,070 | 24,046 |
Accumulated Amortization | -11,045 | -9,398 |
Net Carrying Amount | 15,025 | 14,648 |
Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 28,517 | 27,421 |
Accumulated Amortization | -19,666 | -17,084 |
Net Carrying Amount | $8,851 | $10,337 |
Intangible_Assets_Estimated_Fu
Intangible Assets (Estimated Future Amortization Expense Related To Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Intangible Assets [Abstract] | ' | ' |
2014 | $32,972 | ' |
2015 | 23,050 | ' |
2016 | 12,580 | ' |
2017 | 5,521 | ' |
2018 | 785 | ' |
Thereafter | 7,402 | ' |
Net Carrying Amount | $82,310 | $93,913 |
Goodwill_Schedule_Of_Goodwill_
Goodwill (Schedule Of Goodwill) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
segment | ||
Goodwill [Abstract] | ' | ' |
Balance at beginning of period | $147,258,000 | $130,747,000 |
Purchase price adjustments | -1,463,000 | -1,623,000 |
Acquisitions | ' | 17,987,000 |
Foreign currency translation impact | 725,000 | 147,000 |
Balance at end of period | 146,520,000 | 147,258,000 |
Number of operating segments | 1 | ' |
Reduction of goodwill | $1,500,000 | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2009 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2003 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Hungary [Member] | Hungary [Member] | Hungary [Member] | Hungary [Member] | Hungary [Member] | Foreign [Member] | Expiring 2030 To 2032 [Member] | Expiring 2019 To 2030 [Member] | Expiring 2018 To 2023 [Member] | Carried Forward Indefinitely [Member] | ||||
item | Federal [Member] | Federal [Member] | Foreign [Member] | Foreign [Member] | |||||||||
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carryforward | ' | ' | ' | ' | ' | ' | ' | ' | $571,000,000 | $4,300,000 | ' | $2,700,000 | $568,000,000 |
Change in valuation allowance | ' | ' | ' | 18,400,000 | 9,700,000 | 8,700,000 | 18,300,000 | ' | ' | ' | ' | ' | ' |
Non-U.S. subsidiaries' undistributed earnings | ' | 558,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Taxes on undistributed foreign earnings | ' | 185,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax charge | 21,600,000 | ' | ' | 3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties related to income tax matters | ' | 337,000,000 | 782,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax credit carryforwards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' |
Number of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' |
Gross deferred tax asset related to tax deductible goodwill | ' | ' | ' | ' | ' | ' | ' | $91,000,000 | ' | ' | ' | ' | ' |
Income_Taxes_Components_Of_Inc
Income Taxes (Components Of Income Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Domestic | $41,315 | $24,100 | $6,488 |
Foreign | 55,853 | 90,737 | 104,646 |
Income before income taxes | $97,168 | $114,837 | $111,134 |
Income_Taxes_Provision_For_Inc
Income Taxes (Provision For Income Taxes Charged To Operations) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Current tax expense, U.S. federal | $27,161 | $24,538 | $19,381 |
Current tax expense, State | 813 | 1,217 | 1,180 |
Current tax expense, Foreign | 4,917 | 10,544 | 8,568 |
Current tax expense, Total current | 32,891 | 36,299 | 29,129 |
Deferred tax expense (benefit), U.S. federal | -15,401 | -10,305 | -12,790 |
Deferred tax expense (benefit), State | -473 | 53 | -234 |
Deferred tax expense (benefit), Foreign | -362 | -1,347 | 957 |
Total deferred | -16,236 | -11,599 | -12,067 |
Total provision | $16,655 | $24,700 | $17,062 |
Income_Taxes_Deferred_Tax_Liab
Income Taxes (Deferred Tax Liabilities (Assets)) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Capitalized software | $7,748 | $7,432 |
Depreciation and amortization | 15,550 | 15,404 |
Intangible assets | 18,843 | 9,920 |
Unrealized gain on derivative instruments | 898 | 709 |
Undistributed earnings of foreign subsidiaries | 8,565 | 8,437 |
Gross deferred tax liabilities | 51,604 | 41,902 |
Operating loss carryforwards | -108,297 | -86,285 |
Vacation and other accruals | -5,147 | -5,895 |
Inventory valuation and warranty provisions | -12,813 | -11,773 |
Doubtful accounts and sales provisions | -1,101 | -1,229 |
Unrealized exchange loss | -2,192 | -1,664 |
Deferred revenue | -7,809 | -3,987 |
Accrued rent expenses | -453 | -219 |
10% minority stock investment | -908 | -932 |
Stock-based compensation | -6,069 | -5,471 |
Research and development tax credit carryforward | -2,758 | -2,421 |
Foreign tax credit carryforward | -4 | ' |
Other | -444 | -561 |
Gross deferred tax assets | -147,995 | -120,437 |
Valuation allowance | 103,778 | 91,649 |
Net deferred tax liability | $7,387 | $13,114 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of Income Taxes To Effective Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Foreign taxes greater (less) than federal statutory rate | 2.00% | -5.00% | -7.00% |
Research and development tax credits | -7.00% | ' | -3.00% |
Enhanced deduction for certain research and development expenses | -13.00% | -15.00% | -16.00% |
State income taxes, net of federal tax benefit | 1.00% | 1.00% | 1.00% |
Employee share-based compensation | ' | 2.00% | 1.00% |
Intercompany profit | -2.00% | 2.00% | 3.00% |
Nondeductible acquisition costs | ' | 2.00% | ' |
Domestic production activities deduction | -1.00% | ' | ' |
Other | 2.00% | ' | 1.00% |
Effective tax rate | 17.00% | 22.00% | 15.00% |
Income_Taxes_Unrecognized_Tax_
Income Taxes (Unrecognized Tax Benefit) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Balance at beginning of period | $20,920 | $19,494 |
Additions based on tax positions related to the current year | 3,290 | 3,150 |
Additions for tax positions of prior years | 337 | 1,764 |
Reductions as a result of settlement with taxing authorities | -975 | -285 |
Reductions as a result of the lapse of the applicable statute of limitations | ' | -2,256 |
Reduction for tax positions of prior years | ' | -947 |
Balance at end of period | $23,572 | $20,920 |
Comprehensive_Income_Accumulat
Comprehensive Income (Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | $844 | ($3,500) | ' |
Current-period other comprehensive income (loss) | 5,410 | 8,952 | ' |
Reclassified from accumulated OCI into income | -3,378 | -3,513 | ' |
Income tax expense | -326 | -1,095 | -232 |
Ending Balance | 2,550 | 844 | -3,500 |
Currency Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | 208 | -1,543 | ' |
Current-period other comprehensive income (loss) | 1,332 | 2,231 | ' |
Income tax expense | -229 | -480 | ' |
Ending Balance | 1,311 | 208 | ' |
Investments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | -620 | -664 | ' |
Current-period other comprehensive income (loss) | -538 | 56 | ' |
Income tax expense | 92 | -12 | ' |
Ending Balance | -1,066 | -620 | ' |
Derivative Instruments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | 1,256 | -1,293 | ' |
Current-period other comprehensive income (loss) | 4,616 | 6,665 | ' |
Reclassified from accumulated OCI into income | -3,378 | -3,513 | ' |
Income tax expense | -189 | -603 | ' |
Ending Balance | $2,305 | $1,256 | ' |
Authorized_Shares_Of_Common_An1
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
14-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2004 | Dec. 31, 1997 | 9-May-94 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 10-May-11 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 21, 2004 | Dec. 31, 2013 | 11-May-10 | Dec. 31, 2013 | 10-May-05 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 11-May-10 | Dec. 31, 2013 | Dec. 31, 2013 | |
Incentive Plan (1994) [Member] | Incentive Plan (1994) [Member] | Incentive Plan (1994) [Member] | Incentive Plan (1994) [Member] | Incentive Plan (1994) [Member] | Incentive Plan (1994) [Member] | Restricted Stock Units [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Authorized Preferred Stock And Preferred Stock Purchase Rights Plan [Member] | Authorized Preferred Stock And Preferred Stock Purchase Rights Plan [Member] | Authorized Preferred Stock And Preferred Stock Purchase Rights Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | Restricted Stock Plan [Member] | |||||
Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Incentive Plan (2005) [Member] | Incentive Plan (2005) [Member] | Incentive Plan (2005) [Member] | Incentive Plan (2005) [Member] | Incentive Plan (2010) [Member] | Incentive Plan (2010) [Member] | Incentive Plan (2010) [Member] | Incentive Plan (2010) [Member] | |||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional number of shares reserved for issuance | 180,000,000 | ' | ' | ' | ' | 1,125,000 | 10,631,250 | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 360,000,000 | 180,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | 13,668,750 | ' | ' | ' | ' | ' | ' | ' | 750,000 | ' | 3,362,304 | ' | 4,050,000 | ' | ' | ' | 3,000,000 | ' | ' |
Common and preferred stock shares authorized | ' | 365,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting period, (in years) | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '3 years | '10 years | '5 years | ' | '3 years | '10 years |
Expiration period from date options granted | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of stock options at exercise | ' | $8,300,000 | $2,400,000 | $13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense | ' | 11,000 | ' | ' | ' | ' | ' | ' | ' | ' | 89,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense, shares | ' | 11,765 | ' | ' | ' | ' | ' | ' | ' | ' | 3,506,562 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense, weighted average fair value | ' | $13.81 | ' | ' | ' | ' | ' | ' | ' | ' | $26.23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average period for which unrecognized stock-based compensation expense recognized | ' | '6 months 22 days | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 5 months 5 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average remaining contractual life of options exercisable | ' | '6 months 29 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of stock options | ' | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of options outstanding | ' | $3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares available for grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,318,042 | ' | ' | ' |
Percentage of the lower of the market related to purchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum employee subscription rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock reserved for future employee purchases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,380,751 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued during the period, in shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,191,599 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value, in dollar per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $22.48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of preferred shares declared for each share of common stock outstanding, in shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of a share of Series A Participating Preferred Stock each Right entitles its holder to purchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of Series A Participating Preferred Stock Rights, in dollar per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of common stock before rights become exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Multiple of original exercise price for which holder is entitled to purchase (in number of times: 2x, 3x, etc.) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price of Series A Participating Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10-May-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized common stock available for repurchase | ' | 3,932,245 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized_Shares_Of_Common_An2
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans (Schedule Of Stock Option Plans) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans [Abstract] | ' | ' | ' |
Number of shares under option, Outstanding | 1,053,125 | 1,317,216 | 2,334,448 |
Number of shares under option, Exercised | -713,737 | -237,146 | -932,895 |
Number of shares under option, Cancelled | -51,980 | -26,945 | -84,337 |
Number of shares under option, Granted | ' | ' | ' |
Number of shares under option, Outstanding | 287,408 | 1,053,125 | 1,317,216 |
Weighted average exercise price, Outstanding | $18.44 | $18.07 | $17.15 |
Weighted average exercise price, Exercised | $18.36 | $16.59 | $15.94 |
Weighted average exercise price, Cancelled | $18.47 | $17.07 | $16.23 |
Weighted average exercise price, Granted | ' | ' | ' |
Weighted average exercise price, Outstanding | $18.62 | $18.44 | $18.07 |
Number of shares under option, Exercisable | 275,643 | 1,034,559 | 1,270,775 |
Weighted average exercise price, Exercisable | $18.56 | $18.44 | $18.06 |
Authorized_Shares_Of_Common_An3
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans (Schedule Of Options Outstanding And Exercisable By Price Range) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
$14.63 - 15.09 [Member] | $17.01 - 19.51 [Member] | $19.90 - 21.65 [Member] | $14.63 - 21.65 [Member] | |||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Range of Exercise prices, Lower Limit | ' | ' | ' | ' | $14.63 | $17.01 | $19.90 | $14.63 |
Range of Exercise prices, Upper Limit | ' | ' | ' | ' | $15.09 | $19.51 | $21.65 | $21.65 |
Options Outstanding, Number | 287,408 | 1,053,125 | 1,317,216 | 2,334,448 | 69,180 | 39,863 | 178,365 | 287,408 |
Options Outstanding, Weighted average remaining contractual life | ' | ' | ' | ' | '1 year 3 months 15 days | '9 months 18 days | '2 months 23 days | '6 months 22 days |
Options Outstanding, Weighted average exercise price | $18.62 | $18.44 | $18.07 | $17.15 | $15.08 | $18.95 | $19.91 | $18.62 |
Options Exercisable, Number | 275,643 | 1,034,559 | 1,270,775 | ' | 69,167 | 39,863 | 166,613 | 275,643 |
Options Exercisable, Weighted average exercise price | $18.56 | $18.44 | $18.06 | ' | $15.08 | $18.95 | $19.92 | $18.56 |
Authorized_Shares_Of_Common_An4
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans (Schedule Of Restricted Stock Plans) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of RSUs, Granted | 1,191,599 | 1,122,483 | 940,703 |
Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of RSUs, Balance | 3,805,274 | 3,421,522 | 2,996,297 |
Number of RSUs, Granted | 764,315 | 1,311,105 | 1,370,666 |
Number of RSUs, Earned | -906,214 | -841,918 | -860,598 |
Number of RSUs, Cancelled | -156,813 | -85,435 | -84,843 |
Number of RSUs, Balance | 3,506,562 | 3,805,274 | 3,421,522 |
Weighted Average Grant Price, Balance | 24.62 | 22.75 | 17.97 |
Weighted Average Grant Price, Granted | 29.5 | 26.81 | 30.14 |
Weighted Average Grant Price, Earned | 22.25 | 20.41 | 18.2 |
Weighted Average Grant Price, Cancelled | 25.99 | 24.66 | 20.85 |
Weighted Average Grant Price, Balance | 26.23 | 24.62 | 22.75 |
Authorized_Shares_Of_Common_An5
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans (Schedule Of Employee Stock Purchase Plan) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans [Abstract] | ' | ' | ' |
Dividend expense yield | 0.50% | 0.50% | 0.40% |
Expected life (in months) | '3 months | '3 months | '3 months |
Expected volatility | 25.00% | 40.00% | 44.00% |
Risk-free interest rate | 0.10% | 0.10% | 0.10% |
Authorized_Shares_Of_Common_An6
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans (Schedule Of Weighted Average Grant Date Fair Value Of Purchase Rights Granted Under Employee Stock Purchase Plan) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Authorized Shares Of Common And Preferred Stock And Stock-Based Compensation Plans [Abstract] | ' | ' | ' |
Number of shares | 1,191,599 | 1,122,483 | 940,703 |
Weighted average fair value | $5.64 | $5.93 | $6.56 |
Employee_Retirement_Plan_Detai
Employee Retirement Plan (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Retirement Plan [Abstract] | ' | ' | ' |
Number of days of continuous service for eligibility to participate in defined contribution benefit plan | '30 days | ' | ' |
Maximum contribution percentage of employee salary | 15.00% | ' | ' |
Percentage of employee contribution matched by Board of Directors | 50.00% | ' | ' |
Maximum percentage of each participantbs compensation | 6.00% | ' | ' |
Employee eligibility period for matching contribution (years) | '1 year | ' | ' |
Company contributions | $5.80 | $5.30 | $4.70 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
region | |||
Segment Information [Abstract] | ' | ' | ' |
Number of geographic regions where products are sold | 4 | ' | ' |
Total sales outside the United States | $726 | $722 | $646 |
Segment_Information_Schedule_O
Segment Information (Schedule Of Net Sales, Operating Income, Interest Income And Long-Lived Assets By Major Geographical Areas) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | $1,172,558 | $1,143,692 | $1,024,173 |
Operating income | 98,617 | 116,934 | 112,712 |
Unallocated: Research and development expenses | -234,796 | -222,994 | -199,071 |
Interest income | 679 | 716 | 1,319 |
Property and equipment, net | 260,568 | 249,721 | ' |
Americas [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | 483,604 | 454,616 | 411,006 |
Operating income | 56,054 | 41,266 | 55,140 |
Interest income | 51 | 177 | 408 |
Property and equipment, net | 120,829 | 120,329 | ' |
Europe [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | 318,179 | 297,572 | 308,619 |
Operating income | 132,768 | 135,600 | 142,533 |
Interest income | 536 | 432 | 771 |
Property and equipment, net | 51,038 | 48,465 | ' |
East Asia [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | 260,100 | 282,512 | 215,500 |
Operating income | 106,586 | 125,879 | 85,005 |
Interest income | 28 | 23 | 23 |
Property and equipment, net | 4,162 | 3,428 | ' |
Emerging Markets [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | 110,675 | 108,992 | 89,048 |
Operating income | 38,005 | 37,183 | 29,105 |
Interest income | 64 | 84 | 117 |
Property and equipment, net | $84,539 | $77,499 | ' |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Line of Credit Facility [Line Items] | ' |
Unsecured revolving line of credit | $50 |
Available for borrowings under revolving line of credit | $50 |
Ratio of consolidated indebtedness to earnings before interest, taxes, depreciation and amortization, maximum allowed | 3.25 |
Ratio of consolidated earnings before interest, taxes, depreciation and amortization expense, minimum allowed | 3 |
Minimum [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Quarterly commitment fee | 0.18% |
Maximum [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Quarterly commitment fee | 0.30% |
Base Rate Determined In Accordance With Loan Agreement [Member] | Minimum [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Variable interest rate spread | 0.00% |
Base Rate Determined In Accordance With Loan Agreement [Member] | Maximum [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Variable interest rate spread | 0.50% |
LIBOR [Member] | Minimum [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Variable interest rate spread | 1.13% |
LIBOR [Member] | Maximum [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Variable interest rate spread | 2.00% |
During Event Of Default [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Variable interest rate spread | 2.00% |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Jun. 06, 2012 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies [Abstract] | ' | ' | ' | ' | ' |
Rent expense | ' | ' | $19 | $17 | $16 |
Amount of non-cancelable purchase commitments with various suppliers of customized inventory and inventory components | ' | ' | 11 | ' | ' |
Amount of guarantees for payment of customs and foreign grants | ' | ' | 5.2 | ' | ' |
GSA accrual | ' | 13.1 | ' | ' | ' |
Settlement payments | $11.80 | ' | ' | ' | ' |
Commitments_Contingencies_And_
Commitments, Contingencies And Leases (Future Minimum Lease Payments) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies [Abstract] | ' |
2014 | $19,786 |
2015 | 16,664 |
2016 | 11,319 |
2017 | 7,181 |
2018 | 5,545 |
Thereafter | 6,031 |
Total | $66,526 |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2011 | Dec. 31, 2013 | Jun. 30, 2012 | 20-May-11 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
item | Privately-Held Companies [Member] | Privately-Held Companies [Member] | AWR Corporation [Member] | AWR Corporation [Member] | AWR Corporation [Member] | AWR Corporation [Member] | AWR Corporation [Member] | AWR Corporation [Member] | Phase Matrix Inc. [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||
Privately-Held Companies [Member] | Phase Matrix Inc. [Member] | Privately-Held Companies [Member] | Phase Matrix Inc. [Member] | |||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 30-Jun-11 | ' | ' | 20-May-11 | ' | ' | ' | ' |
Number of businesses acquired | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition purchase price | ' | ' | ' | $42,324,000 | $42,000,000 | ' | ' | ' | ' | ' | $66,395,000 | $40,680,000 | ' | ' | ' | ' |
Cash paid for acquired company | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | 54,000,000 | ' | ' | 38,900,000 | ' | ' | ' | ' |
Cash received for acquired entity | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future cash payments | ' | ' | ' | ' | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock paid for acquired company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' |
Increase in tangible assets as a result of purchase price allocation | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in intangible assets | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in goodwill | ' | 1,463,000 | 1,623,000 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential undiscounted payments under the earn-out arrangement, range minimum | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Potential undiscounted payments under the earn-out arrangement, range maximum | ' | ' | ' | ' | ' | ' | ' | ' | 29,000,000 | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of the earn-out arrangement | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | 0 | ' | ' | ' | ' | ' | ' |
Contingent consideration, payments | ' | ' | ' | ' | ' | 3,300,000 | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earn-out accrual adjustment | ' | ($1,316,000) | $6,783,000 | ' | ' | ' | ' | $1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | '4 months | '9 months | '5 years | '8 years |
Acquisitions_Summary_Of_The_Al
Acquisitions (Summary Of The Allocation Of The Purchase Price Of Acquisitions) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | 20-May-11 |
In Thousands, unless otherwise specified | Privately-Held Companies [Member] | Privately-Held Companies [Member] | AWR Corporation [Member] | Phase Matrix Inc. [Member] |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Net tangible assets acquired | $9,563 | ' | $10,718 | $5,624 |
Amortizable intangible assets | 24,136 | ' | 31,685 | 8,331 |
Deferred tax liability | -7,899 | ' | -8,387 | ' |
Goodwill | 16,524 | ' | 32,379 | 26,725 |
Total | $42,324 | $42,000 | $66,395 | $40,680 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Dividend payable, date declared | 30-Jan-14 |
Dividend payable, amount per share | $0.15 |
Dividend payable, date payable | 10-Mar-14 |
Dividend payable, date of record | 18-Feb-14 |