1 7 ) Business Segment, Geographic Area, Product/Service Offerings and Significant Customer Information The Company is a global provider of instruments, systems, subsystems and process control solutions that measure, monitor, deliver, analyze, power and control critical parameters of advanced manufacturing processes to improve process performance and productivity for its customers. The Companys products are derived from its core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, vacuum technology, lasers, photonics, optics, precision motion control, vibration control and laser-based manufacturing systems solutions. The Company also provides services relating to the maintenance and repair of its products, installation services and training. The Companys primary served markets include semiconductor, industrial technologies, life and health sciences, research and defense. The Companys Chief Operating Decision Maker (CODM) utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company, which is used in the decision making process to assess performance. Effective February 1, 2019, in conjunction with its acquisition of ESI, the Company created a third reportable segment known as the Equipment &amp; Solutions segment in addition to its two then-existing reportable segments: the Vacuum &amp; Analysis segment and the Light &amp; Motion segment. The Vacuum &amp; Analysis segment provides a broad range of instruments, components and subsyste ms which are derived from the Companys core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and deli very, power generation and delivery and vacuum technology. The Light &amp; Motion segment provides a broad range of instruments, components and subsystems which are derived from the Companys core competencies in lasers, photonics, optics, precision motion control and vibration control. The Equipment &amp; Solutions segment provides laser-based manufacturing systems solutions for the micro-machining industry that enable customers to optimize production. The Equipment &amp; Solutions segments primary served markets include flexible and rigid PCB processing/fabrication, semiconductor wafer processing, and passive component manufacturing and testing. The Equipment &amp; Solutions segments systems incorporate specialized laser technology and proprietary control software to efficiently process the materials and components that are an integral part of electronic devices and systems. The Company derives its segment results directly from the manner in which results are reported in its management reporting system. The accounting policies that the Company uses to derive reportable segment results are substantially the same as those used for external reporting purposes. The Company does not disclose external or intersegment revenues separately by reportable segment as this information is not presented to the CODM for decision making purposes. The following table sets forth net revenues by reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Vacuum &amp; Analysis $ 314.5 $ 235.7 $ 633.8 $ 470.0 Light &amp; Motion 166.0 182.5 331.4 376.6 Equipment &amp; Solutions 63.8 55.9 114.8 91.1 $ 544.3 $ 474.1 $ 1,080.0 $ 937.7 The following table sets forth a reconciliation of segment gross profit to consolidated net income: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Gross profit by reportable segment: Vacuum &amp; Analysis $ 139.7 $ 102.1 $ 280.6 $ 200.2 Light &amp; Motion 76.5 84.9 151.9 177.7 Equipment &amp; Solutions 30.1 24.0 53.4 31.3 Total gross profit by reportable segment 246.3 211.0 485.9 409.2 Operating expenses: Research and development 42.8 41.9 85.2 80.8 Selling, general and administrative 86.1 83.2 173.3 165.7 Acquisition and integration costs 0.7 3.2 2.9 33.4 Restructuring and other 3.3 1.2 3.7 3.2 Amortization of intangible assets 13.8 17.6 30.1 33.3 Asset impairment   1.2  COVID-19 related net credits (1.2 )  (1.2 )  Fees and expenses related to repricing of Term Loan Facility    5.8 Income from operations 100.8 63.9 190.7 87.0 Interest and other expense, net 8.4 12.1 17.0 19.8 Income before income taxes 92.4 51.8 173.7 67.2 Provision for income taxes 18.7 14.1 30.9 17.0 Net income $ 73.7 $ 37.7 $ 142.8 $ 50.2 The following table sets forth capital expenditures by reportable segment for the three and six months ended June 30, 2020 and 2019: Vacuum &amp; Analysis Light &amp; Motion Equipment &amp; Solutions Total Three Months Ended June 30, 2020: Capital expenditures $ 15.0 $ 4.5 $ 1.4 $ 20.9 Six Months Ended June 30, 2020: Capital expenditures $ 19.1 $ 8.5 $ 3.3 $ 30.9 Three Months Ended June 30, 2019: Capital expenditures $ 6.7 $ 4.9 $ 2.1 $ 13.7 Six Months Ended June 30, 2019: Capital expenditures $ 14.2 $ 10.1 $ 3.9 $ 28.2 The following table sets forth depreciation and amortization by reportable segment for the three and six months ended June 30, 2020 and 2019: Vacuum &amp; Analysis Light &amp; Motion Equipment &amp; Solutions Total Three Months Ended June 30, 2020: Depreciation and amortization $ 5.1 $ 10.5 $ 8.5 $ 24.1 Six Months Ended June 30, 2020: Depreciation and amortization $ 10.0 $ 23.9 $ 18.6 $ 52.5 Three Months Ended June 30, 2019: Depreciation and amortization $ 3.9 $ 13.3 $ 10.2 $ 27.4 Six Months Ended June 30, 2019: Depreciation and amortization $ 8.0 $ 27.4 $ 17.3 $ 52.7 Total income tax expense is not presented by reportable segment because the necessary information is not available nor used by the CODM. The following table sets forth segment assets by reportable segment: June 30, 2020: Vacuum &amp; Analysis Light &amp; Motion Equipment &amp; Solutions Corporate, Eliminations &amp; Other Total Segment assets: Trade accounts receivable, net $ 201.5 $ 147.7 $ 64.2 $ (32.3 ) $ 381.1 Inventory, net 247.5 177.7 66.4 (1.4 ) 490.2 Total segment assets $ 449.0 $ 325.4 $ 130.6 $ (33.7 ) $ 871.3 December 31, 2019: Vacuum &amp; Analysis Light &amp; Motion Equipment &amp; Solutions Corporate, Eliminations &amp; Other Total Segment assets: Trade accounts receivable, net $ 185.9 $ 147.2 $ 40.1 $ (32.1 ) $ 341.1 Inventory, net 224.8 163.7 73.5 0.1 462.1 Total segment assets $ 410.7 $ 310.9 $ 113.6 $ (32.0 ) $ 803.2 The following is a reconciliation of segment assets to consolidated total assets: June 30, 2020 December 31, 2019 Total segment assets $ 871.3 $ 803.2 Cash and cash equivalents 428.9 414.6 Short-term investments 178.1 109.4 Other current assets 91.5 106.3 Property, plant and equipment, net 248.4 241.9 Right-of-use asset 174.3 64.5 Goodwill and intangible assets, net 1,592.5 1,623.1 Other assets and long-term investments 46.1 53.3 Consolidated total assets $ 3,631.1 $ 3,416.3 Geographic Information about the Companys operations in different geographic regions is presented in the tables below. Net revenues to unaffiliated customers are based on the location in which the sale originated. Transfers between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net revenues: United States $ 245.0 $ 217.5 $ 476.5 $ 441.9 South Korea 65.0 38.9 141.0 74.7 China 75.2 56.0 124.9 93.8 Japan 37.3 31.0 77.2 73.1 Germany 30.4 37.4 64.9 75.5 Other 91.4 93.3 195.5 178.7 $ 544.3 $ 474.1 $ 1,080.0 $ 937.7 Long-lived assets: (1) June 30, 2020 December 31, 2019 United States $ 331.1 $ 208.3 Europe 37.0 41.4 Asia 85.0 89.6 $ 453.1 $ 339.3 (1) Long-lived assets include property, plant and equipment, net, right-of-use assets, and certain other assets, and exclude goodwill, intangible assets and long-term tax-related accounts. Goodwill associated with each of the Companys reportable segments is as follows: June 30, 2020 December 31, 2019 Reportable segment: Vacuum &amp; Analysis $ 196.3 $ 196.7 Light &amp; Motion 388.6 388.5 Equipment &amp; Solutions 473.2 473.3 Total goodwill $ 1,058.1 $ 1,058.5 Major Customers For the three and six months ended June 30, 2020, the Company had two customers that each accounted for 10% or more of the Companys total net revenues. Net revenues from LAM Research Corporation constituted 12% and 11%, of the Companys total net revenues for the three and six month periods ended June 30, 2020, respectively, and net revenues from Applied Materials, Inc. constituted 11% of the Companys total net revenues for the same periods. For the three and six months ended June 30, 2019, no single customer accounted for 10% or more of the Companys total net revenues.