0000780571-20-000004 | 10-K | XBRL Viewer

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair values of our derivative instruments are as follows:



Derivatives Assets	Balance Sheet Location	December 31, 2019		December 31, 2018
Derivatives designated as hedging instruments under Subtopic ASC 815-20				In thousands
Interest rate swap contracts	Other current assets	$	174	$	1,866
Interest rate cap contracts	Other current assets	1		535

Cross currency swap contract	Other current assets	1,156		1,631
Interest rate swap contracts	Other long-term assets	—		746
Interest rate cap contracts	Other long-term assets	—		251
Cross currency swap contract	Other long-term assets	2,870		1,339
Derivatives not designated as hedging instruments under Subtopic ASC 815-20
Foreign exchange forward contracts	Other current assets	96		157


Total asset derivatives		$	4,297	$	6,525

Derivatives Liabilities



Derivatives not designated as hedging instruments under Subtopic ASC 815-20
Foreign exchange forward contracts	Other current liabilities	$	162	$	337

Accumulated OCI for Derivative and Nonderivative Instruments Designated as Hedging Instruments, Net of Tax

The changes in AOCI, net of tax, for our derivative and nonderivative instruments designated as hedging instruments, net of tax, were as follows:


In thousands	2019		2018		2017
Net unrealized loss on hedging instruments at January 1,	$	(13,179)	$	(13,414)	$	(14,337)
Unrealized gain (loss) on derivative instruments	4,061		2,586		360
Realized (gains) losses reclassified into net income (loss)	(5,985)		(2,351)		563
Net unrealized loss on hedging instruments at December 31,	$	(15,103)	$	(13,179)	$	(13,414)

Offsetting Assets

A summary of the potential effect of netting arrangements on our financial position related to the offsetting of our recognized derivative assets and liabilities under master netting arrangements or similar agreements is as follows:


Offsetting of Derivative Assets	Gross Amounts of Recognized Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
In thousands					Derivative Financial Instruments			Cash Collateral Received			Net Amount
December 31, 2019	$	4,297	$	(56)		$	—		$	4,241
December 31, 2018	6,525		(103)			—			6,422

Offsetting Liabilities


Offsetting of Derivative Liabilities	Gross Amounts of Recognized Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
In thousands					Derivative Financial Instruments			Cash Collateral Pledged			Net Amount
December 31, 2019	$	162	$	(56)		$	—		$	106
December 31, 2018	337		(103)			—			234

Derivative Instruments, Gain (Loss)

The before-tax effects of our accounting for derivative instruments designated as hedges on the Consolidated Balance Sheets and the Consolidated Statements of Operations for the year ended December 31, were as follows:


Derivatives in Subtopic ASC 815-20 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivative									Gain (Loss) Reclassified from AOCI into Income
														Location	Amount
In thousands	2019		2018		2017		In thousands	2019		2018		2017
Interest rate swap contracts	$	(987)	$	1,306	$	768	Interest expense	$	1,451	$	1,065	$	(706)
Interest rate cap contracts	995		18		(183)		Interest expense	1,046		(439)		(210)
Foreign exchange options	1,141		—		—		Product cost of revenues	1,141		—		—
Cross currency swap contract	3,022		1,584		—		Interest expense	1,632		949		—
Cross currency swap contract	—		—		—		Other income (expense), net	1,335		932		—

Foreign Exchange Derivatives Not Designated As Hedging Instruments

The effects of our derivative instruments not designated as hedges on the Consolidated Statements of Operations for the year ended December 31, were as follows:


Derivatives Not Designated as Hedging Instrument under Subtopic ASC 815-20	Location	Gain (Loss) Recognized in Income on Derivatives
In thousands		2019		2018		2017
Foreign exchange forward contracts	Other income (expense), net	$	(2,425)	$	3,448	$	(6,281)
Interest rate cap contracts	Interest expense	—		377		(274)

Consolidated Statements of Operations - USD ($)
shares in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Total revenues

$ 2,502,470,000

$ 2,376,117,000

$ 2,018,197,000

Total cost of revenues

1,750,151,000

1,645,798,000

1,341,446,000

Gross profit

752,319,000

730,319,000

676,751,000

Operating expenses

Sales, general and administrative

346,872,000

423,210,000

325,264,000

Research and development

202,200,000

207,905,000

169,407,000

Amortization of intangible assets

64,286,000

71,713,000

20,785,000

Restructuring

6,278,000

77,183,000

6,418,000

Total operating expenses

619,636,000

780,011,000

521,874,000

Operating income (loss)

132,683,000

(49,692,000)

154,877,000

Other income (expense)

Interest income

1,849,000

2,153,000

2,126,000

Interest expense

(52,453,000)

(58,203,000)

(13,845,000)

Other income (expense), net

(9,047,000)

(3,409,000)

(8,583,000)

Total other income (expense)

(59,651,000)

(59,459,000)

(20,302,000)

Total income before income taxes

73,032,000

(109,151,000)

134,575,000

Income tax benefit (provision)

(20,617,000)

12,570,000

(74,326,000)

Net income (loss)

52,415,000

(96,581,000)

60,249,000

Net income attributable to noncontrolling interests

3,409,000

2,669,000

2,951,000

Net income (loss) attributable to Itron, Inc.

$ 49,006,000

$ (99,250,000)

$ 57,298,000

Earnings (loss) per common share - Basic (in dollars per share)

$ 1.24

^[1]

$ (2.53)

^[1]

$ 1.48

Earnings (loss) per common share - Diluted (in dollars per share)

$ 1.23

^[1]

$ (2.53)

^[1]

$ 1.45

Weighted average common shares outstanding - Basic (in shares)

39,556

39,244

38,655

Weighted average common shares outstanding - Diluted (in shares)

39,980

39,244

39,387

Product [Member]

Total revenues

$ 2,220,395,000

$ 2,095,458,000

$ 1,813,925,000

Total cost of revenues

1,587,710,000

1,476,498,000

1,204,127,000

Service [Member]

Total revenues

282,075,000

280,659,000

204,272,000

Total cost of revenues

$ 162,441,000

$ 169,300,000

$ 137,319,000

[1]	The sum of the quarterly EPS data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly EPS calculations.

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Dec. 31, 2019	Dec. 31, 2018
Common Stock, Number of Shares, Par Value and Other Disclosures
Common stock, par value (in dollars per share)
Common stock, shares authorized (in shares)	75,000	75,000
Common stock, shares issued (in shares)	39,941	39,498
Common stock, shares outstanding (in shares)	39,941	39,498
Preferred Stock, Number of Shares, Par Value and Other Disclosures
Preferred stock, par value (in dollars per share)
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Summary of Significant Accounting Policies - Property, Plant, and Equipment Policy Additional Information (Details)		12 Months Ended
	Jan. 05, 2018	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	6 years
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life		30 years
Minimum [Member] \| Machinery and Equipment, Computers and Software, and Furniture [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life		3 years
Maximum [Member] \| Machinery and Equipment, Computers and Software, and Furniture [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life		10 years

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 19, 2018	Dec. 22, 2017
Debt Instrument [Line Items]
Notes payable			$ 100,000	$ 300,000
Total debt	$ 950,156
Current portion of debt	0	$ 28,438
Long-term debt, net	932,482	988,185
USD Denominated Term Loan [Member]
Debt Instrument [Line Items]
Loans payable to bank	550,156	637,813
Debt issuance costs, noncurrent, net	3,661	4,859
Line of Credit [Member]
Debt Instrument [Line Items]
Long-term line of credit	0	0
Senior Notes [Member]
Debt Instrument [Line Items]
Notes payable	400,000	400,000
Debt issuance costs, noncurrent, net	14,013	16,331
Secured Debt [Member]
Debt Instrument [Line Items]
Total debt	950,156	1,037,813
Current portion of debt	0	28,438
Long-term debt, net	$ 932,482	$ 988,185

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary Significant Accounting Policies

Summary of Significant Accounting Policies

We were incorporated in the state of Washington in 1977 and are a technology company, offering end-to-end solutions to enhance productivity and efficiency, primarily focused on utilities and municipalities around the globe. We operate under the Itron brand worldwide and manage and report under three operating segments: Device Solutions, Networked Solutions, and Outcomes.

Financial Statement Preparation

The consolidated financial statements presented in this Annual Report include the Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income (Loss), Consolidated Statements of Equity, and Consolidated Statements of Cash Flows for the years ended December 31, 2019, 2018, and 2017 and the Consolidated Balance Sheets as of December 31, 2019 and 2018 of Itron, Inc. and its subsidiaries, prepared in accordance with U.S. generally accepted accounting principles (GAAP).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of significant estimates include revenue recognition, warranty, restructuring, income taxes, business combinations, goodwill and intangible assets, defined benefit pension plans, contingencies, and stock-based compensation. Due to various factors affecting future costs and operations, actual results could differ materially from these estimates.

Basis of Consolidation

We consolidate all entities in which we have a greater than 50% ownership interest or in which we exercise control over the operations. We use the equity method of accounting for entities in which we have a 20% to 50% investment and exercise significant influence. Entities in which we have less than a 20% investment and where we do not exercise significant influence are accounted for under the fair value method. Intercompany transactions and balances are eliminated upon consolidation.

Noncontrolling Interests

In several of our consolidated international subsidiaries, we have joint venture partners, who are minority shareholders. Although these entities are not wholly-owned by Itron, we consolidate them because we have a greater than 50% ownership interest or because we exercise control over the operations. The noncontrolling interest balance is adjusted each period to reflect the allocation of net income (loss) and other comprehensive income (loss) attributable to the noncontrolling interests, as shown in our Consolidated Statements of Operations and our Consolidated Statements of Comprehensive Income (Loss), as well as contributions from and distributions to the owners. The noncontrolling interest balance in our Consolidated Balance Sheets represents the proportional share of the equity of the joint venture entities, which is attributable to the minority shareholders.

Cash and Cash Equivalents

We consider all highly liquid instruments with remaining maturities of three months or less at the date of acquisition to be cash equivalents.

Restricted Cash and Cash Equivalents

Cash and cash equivalents that are contractually restricted from operating use are classified as restricted cash and cash equivalents. On December 22, 2017, we issued $300 million aggregate principal amount of 5.00% senior unsecured notes due in 2026 (the December Notes). The proceeds of the December Notes plus prepaid interest and a premium for a special mandatory redemption option were deposited into escrow, where the funds remained until all the escrow release conditions were satisfied, specifically the closing of the acquisition of Silver Spring Networks, Inc. (SSNI) on January 5, 2018. We have recognized the balance in escrow as restricted cash in our consolidated financial statements as of December 31, 2017. See "Note 6: Debt" for further details.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:


	Year Ended December 31,
In thousands	2019		2018		2017
Cash and cash equivalents	$	149,904	$	120,221	$	176,274
Restricted cash included in other current assets	—		51		51
Long-term restricted cash	—		2,056		311,010
Total cash, cash equivalents, and restricted cash	$	149,904	$	122,328	$	487,335

Accounts Receivable, net

Accounts receivable are recognized for invoices issued to customers in accordance with our contractual arrangements. Interest and late payment fees are minimal. Unbilled receivables are recognized when revenues are recognized upon product shipment or service delivery and invoicing occurs at a later date. We recognize an allowance for doubtful accounts representing our estimate of the probable losses in accounts receivable at the date of the balance sheet based on our historical experience of bad debts and our specific review of outstanding receivables. Accounts receivable are written-off against the allowance when we believe an account, or a portion thereof, is no longer collectible.

Inventories

Inventories are stated at the lower of cost or net realizable value using the first-in, first-out method. Cost includes raw materials and labor, plus applied direct and indirect overhead costs. Net realizable value is the estimated selling price in the normal course of business, minus the cost of completion, disposal and transportation.

Derivative Instruments

All derivative instruments, whether designated in hedging relationships or not, are recognized on the Consolidated Balance Sheets at fair value as either assets or liabilities. The fair values of our derivative instruments are determined using the fair value measurements of significant other observable inputs (Level 2), as defined by GAAP. The fair value of our derivative instruments may switch between an asset and a liability depending on market circumstances at the end of the period. We include the effect of our counterparty credit risk based on current published credit default swap rates when the net fair value of our derivative instruments is in a net asset position and the effect of our own nonperformance risk when the net fair value of our derivative instruments is in a net liability position.

For any derivative designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. For any derivative designated as a cash flow hedge, changes in the fair value of the derivative are recognized as a component of other comprehensive income (loss) (OCI) and are recognized in earnings when the hedged item affects earnings. For a hedge of a net investment, any unrealized gain or loss from the foreign currency revaluation of the hedging instrument is reported in OCI as a net unrealized gain or loss on derivative instruments. Upon termination of a net investment hedge, the net derivative gain/loss will remain in accumulated other comprehensive income (loss) (AOCI) until such time when earnings are impacted by a sale or liquidation of the associated operations. We classify cash flows from our derivative programs as cash flows from operating activities in the Consolidated Statements of Cash Flows.

Derivatives are not used for trading or speculative purposes. Our derivatives are with credit-worthy multinational commercial banks, with which we have master netting agreements; however, our derivative positions are not recognized on a net basis in the Consolidated Balance Sheets. There are no credit-risk related contingent features within our derivative instruments. Refer to "Note 7: Derivative Financial Instruments" and "Note 14: Shareholders' Equity" for further disclosures of our derivative instruments and their impact on OCI.

Property, Plant, and Equipment

Property, plant, and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 30 years for buildings and improvements and three years to 10 years for machinery and equipment, computers and software, and furniture. Leasehold improvements are capitalized and depreciated over the term of the applicable lease, including renewable periods if reasonably certain, or over the useful lives, whichever is shorter. Construction in process represents capital expenditures incurred for assets not yet placed in service. Costs related to internally developed software and software purchased for internal uses are capitalized and are amortized over the estimated useful lives of the assets. Repair and maintenance costs are recognized as incurred. We have no major planned maintenance activities.

We review long-lived assets for impairment whenever events or circumstances indicate the carrying amount of an asset group may not be recoverable. Assets held for sale are classified within other current assets in the Consolidated Balance Sheets, are reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. Gains and losses from asset disposals and impairment losses are classified within the Consolidated Statements of Operations according to the use of the asset, except those gains and losses recognized in conjunction with our restructuring activities, which are classified within restructuring expense.

Prepaid Debt Fees

Prepaid debt fees for term debt represent the capitalized direct costs incurred related to the issuance of debt and are recognized as a direct deduction from the carrying amount of the corresponding debt liability. We have elected to present prepaid debt fees for revolving debt within other long-term assets in the Consolidated Balance Sheets. These costs are amortized to interest expense over the terms of the respective borrowings, including contingent maturity or call features, using the effective interest method or the straight-line method when associated with a revolving credit facility. When debt is repaid early, the related portion of unamortized prepaid debt fees is written off and included in interest expense.

Business Combinations

On the date of acquisition, the assets acquired, liabilities assumed, and any noncontrolling interests in the acquiree are recognized at their fair values. The acquiree's results of operations are also included as of the date of acquisition in our consolidated results. Intangible assets that arise from contractual/legal rights, or are capable of being separated, as well as in-process research and development (IPR&D), are measured and recognized at fair value, and amortized over the estimated useful life. IPR&D is not amortized until such time as the associated development projects are completed or terminated. If a development project is completed, the IPR&D is reclassified as a core technology intangible asset and amortized over its estimated useful life. If the development project is terminated, the recognized value of the associated IPR&D is immediately expensed. If practicable, assets acquired and liabilities assumed arising from contingencies are measured and recognized at fair value. If not practicable, such assets and liabilities are measured and recognized when it is probable that a gain or loss has occurred and the amount can be reasonably estimated. The residual balance of the purchase price, after fair value allocations to all identified assets and liabilities, represents goodwill. Acquisition-related costs are recognized as incurred. Integration costs associated with an acquisition are generally recognized in periods subsequent to the acquisition date, and changes in deferred tax asset valuation allowances and acquired income tax uncertainties, including penalties and interest, after the measurement period are recognized as a component of the provision for income taxes. Our acquisitions may include contingent consideration, which require us to recognize the fair value of the estimated liability at the time of the acquisition. Subsequent changes in the estimate of the amount to be paid under the contingent consideration arrangement are recognized in the Consolidated Statements of Operations.

We estimate the preliminary fair value of acquired assets and liabilities as of the date of acquisition based on information available at that time utilizing either a cost or income approach. The determination of the fair value is judgmental in nature and involves the use of significant estimates and assumptions. Contingent consideration is recognized at fair value as of the date of the acquisition with adjustments occurring after the purchase price allocation period, which could be up to one year, recognized in earnings. Changes to valuation allowances on acquired deferred tax assets that occur after the acquisition date are recognized in the provision for, or benefit from, income taxes. The valuation of these tangible and identifiable intangible assets and liabilities is subject to further management review and may change materially between the preliminary allocation and end of the purchase price allocation period. Any changes in these estimates may have a material effect on our consolidated operating results or financial position.

Leases - 2019

We adopted Accounting Standards Codification (ASC) 842, on January 1, 2019, which required that substantially all our leases be recognized on our Consolidated Balance Sheets as a right-of-use asset and corresponding lease liability. Since ASC 842 required modified retrospective adoption, operating leases were not recognized on our balance sheet prior to January 1, 2019.

We determine if an arrangement is a lease at inception. A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The definition of a lease embodies two conditions: (1) there is an identified asset in the contract that is land or a depreciable asset (i.e., property, plant, and equipment), and (2) the customer has the right to control the use of the identified asset.

Operating leases are included in operating lease right-of-use ("ROU") assets, other current liabilities, and operating lease liabilities on our Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, other long-term assets, other current liabilities, and other long-term obligations on our Consolidated Balance Sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use the rate implicit in the lease agreement when readily determinable. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is the estimated rate of interest we expect to pay on a collateralized basis over a similar term, based on the information available at the lease commencement date. The Operating lease ROU asset also includes any lease payments made and is reduced by lease incentives received and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

We have lease agreements that include lease and nonlease components. When nonlease components are fixed, we have elected the practical expedient to account for lease and nonlease components as a single lease component, except for leases embedded in service contracts.

All leases with a lease term that is greater than one month are subject to recognition and measurement on the balance sheet, except where we have leases in service contracts with contract manufacturers. For leases with contract manufacturers, we have elected to utilize the short-term lease exemption.

Lease expense for variable lease payments, where the timing or amount of the payment is not fixed, are recognized when the obligation is incurred. Variable lease payments generally arise in our net lease arrangements where executory and other lease-related costs are billed to Itron when incurred by the lessor.

Goodwill and Intangible Assets

Goodwill and intangible assets may result from our business acquisitions. Intangible assets may also result from the purchase of assets and intellectual property in a transaction that does not qualify as a business combination. We use estimates, including estimates of useful lives of intangible assets, the amount and timing of related future cash flows, and fair values of the related operations, in determining the value assigned to goodwill and intangible assets. Our finite-lived intangible assets are amortized over their estimated useful lives based on estimated discounted cash flows, generally three years to ten years for core-developed technology and customer contracts and relationships. Finite-lived intangible assets are tested for impairment at the asset group level when events or changes in circumstances indicate the carrying value may not be recoverable. Indefinite-lived intangible assets are tested for impairment annually, when events or changes in circumstances indicate the asset may be impaired, or when their useful lives are determined to be no longer indefinite.

Goodwill is assigned to our reporting units based on the expected benefit from the synergies arising from each business combination, determined by using certain financial metrics, including the forecasted discounted cash flows associated with each reporting unit. Each reporting unit corresponds with its respective operating segment. We test goodwill for impairment each year as of October 1, or more frequently should a significant impairment indicator occur. As part of the impairment test, we may elect to perform an assessment of qualitative factors. If this qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit, including goodwill, is less than its carrying amount, or if we elect to bypass the qualitative assessment, we would then proceed with the quantitative impairment test. The impairment test involves comparing the fair values of the reporting units to their carrying amounts. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to the excess.

Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions. We forecast discounted future cash flows at the reporting unit level using risk-adjusted discount rates and estimated future revenues and operating costs, which take into consideration factors such as existing backlog, expected future orders, supplier contracts, and expectations of competitive and economic environments. We also identify similar publicly traded companies and develop a correlation, referred to as a multiple, to apply to the operating results of the reporting units. These combined fair values are then reconciled to the aggregate market value of our common stock on the date of valuation, while considering a reasonable control premium.

Contingencies

A loss contingency is recognized if it is probable that an asset has been impaired or a liability has been incurred, and the amount of the loss can be reasonably estimated. We evaluate, among other factors, the degree of probability of an unfavorable outcome and our ability to make a reasonable estimate of the amount of the ultimate loss. Loss contingencies that we determine to be reasonably possible, but not probable, are disclosed but not recognized. Legal costs to defend against contingent liabilities are recognized as incurred.

Bonus and Profit Sharing

We have various employee bonus and profit sharing plans, which provide award amounts for the achievement of financial and nonfinancial targets. If management determines it is probable that the targets will be achieved, and the amounts can be reasonably estimated, a compensation accrual is recognized based on the proportional achievement of the financial and nonfinancial targets.

Warranty

We offer standard warranties on our hardware products and large application software products. We accrue the estimated cost of new product warranties based on historical and projected product performance trends and costs during the warranty period. Testing of new products in the development stage helps identify and correct potential warranty issues prior to manufacturing. Quality control efforts during manufacturing reduce our exposure to warranty claims. When testing or quality control efforts fail to detect a fault in one of our products, we may experience an increase in warranty claims. We track warranty claims to identify potential warranty trends. If an unusual trend is noted, an additional warranty accrual would be recognized if a failure event is probable and the cost can be reasonably estimated. When new products are introduced, our process relies on historical averages of similar products until sufficient data is available. As actual experience on new products becomes available, it is used to modify the historical averages to ensure the expected warranty costs are within a range of likely outcomes. Management regularly evaluates the sufficiency of the warranty provisions and makes adjustments when necessary. The long-term warranty balance includes estimated warranty claims beyond one year. Warranty expense is classified within cost of revenues.

Restructuring

We recognize a liability for costs associated with an exit or disposal activity under a restructuring project in the period in which the liability is incurred. Employee termination benefits considered postemployment benefits are accrued when the obligation is probable and estimable, such as benefits stipulated by human resource policies and practices or statutory requirements. One-time termination benefits are recognized at the date the employee is notified. If the employee must provide future service greater than 60 days, such benefits are recognized ratably over the future service period. For contract termination costs, we recognize a liability upon the termination of a contract in accordance with the contract terms or the cessation of the use of the rights conveyed by the contract, whichever occurs later.

Asset impairments associated with a restructuring project are determined at the asset group level. An impairment may be recognized for assets that are to be abandoned, are to be sold for less than net book value, or are held for sale in which the estimated proceeds less costs to sell are less than the net book value. We may also recognize impairment on an asset group, which is held and used, when the carrying value is not recoverable and exceeds the asset group's fair value. If an asset group is considered a business, a portion of our goodwill balance is allocated to it based on relative fair value. If the sale of an asset group under a restructuring project results in proceeds that exceed the net book value of the asset group, the resulting gain is recognized within restructuring expense in the Consolidated Statements of Operations.

Defined Benefit Pension Plans

We sponsor both funded and unfunded defined benefit pension plans for certain international employees. We recognize a liability for the projected benefit obligation in excess of plan assets. We recognize an asset when plan assets exceed the projected benefit obligation. We also recognize the funded status of our defined benefit pension plans on our Consolidated Balance Sheets and recognize as a component of OCI, net of tax, the actuarial gains or losses and prior service costs or credits, if any, that arise during the period but that are not recognized as components of net periodic benefit cost. If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities, we amortize them over the employees' average future service period.

Share Repurchase Plans

From time to time, we may repurchase shares of Itron common stock under programs authorized by our Board of Directors. Share repurchases are made in the open market or in privately negotiated transactions and in accordance with applicable securities laws. Under applicable Washington State law, shares repurchased are retired and not displayed separately as treasury stock on the financial statements; the value of the repurchased shares is deducted from common stock.

Product Revenues and Service Revenues

Product revenues include sales from standard and smart meters, systems or software, and any associated implementation and installation revenue. Service revenues include sales from post-sale maintenance support, consulting, outsourcing, and managed services.

Revenue Recognition - 2019 and 2018

On January 1, 2018, we adopted Revenue from Contracts with Customers (ASC 606), using the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605, Revenue Recognition (ASC 605). Refer to our Revenue Recognition accounting policy described below and "Note 18: Revenues" for additional disclosures regarding our revenues from contracts with customers and the adoption of ASC 606.

The majority of our revenues consist primarily of hardware sales, but may also include the license of software, software implementation services, cloud services and SaaS, project management services, installation services, consulting services, post-sale maintenance support, and extended or customer-specific warranties. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. In determining whether the definition of a contract has been met, we consider whether the arrangement creates enforceable rights and obligations, which involves evaluation of contractual terms that would allow for the customer to terminate the agreement. If the customer has the unilateral right to terminate the agreement without providing further consideration to us, the agreement would not be considered to meet the definition of a contract.

Many of our revenue arrangements involve multiple performance obligations as our hardware and services are often sold together. Separate contracts entered into with the same customer (or related parties of the customer) at or near the same time are accounted for as a single contract when one or more of the following criteria are met:

•The contracts are negotiated as a package with a single commercial objective;

•The amount of consideration to be paid in one contract depends on the price or performance of the other contract; or

•The goods or services promised in the contracts (or some goods or services promised in each of the contracts) are a single performance obligation.

Once the contract has been defined, we evaluate whether the promises in the contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment, and the decision to separate the combined or single contract into multiple performance obligations could change the amount of revenue and profit recognized in a given period. Some of our contracts contain a significant service of integrating, customizing or modifying goods or services in the contract, in which case the goods or services would be combined into a single performance obligation. It is common that we may promise to provide multiple distinct goods or services, in which case we separate the contract into more than one performance obligation. If a contract is separated into more than one performance obligation, we allocate the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services. For goods or services where we have observable standalone sales, the observable standalone sales are used to determine the standalone selling price. For the majority of our goods and services, we do not have observable standalone sales. As a result, we estimate the standalone selling price using either the adjusted market assessment approach or the expected cost plus a margin approach. Approaches used to estimate the standalone selling price for a given good or service will maximize the use of observable inputs and considers several factors, including our pricing practices, costs to provide a good or service, the type of good or service, and availability of other transactional data, among others.

We determine the estimated standalone selling prices of goods or services used in our allocation of arrangement consideration on an annual basis or more frequently if there is a significant change in our business or if we experience significant variances in our transaction prices.

Many of our contracts with customers include variable consideration, which can include liquidated damage provisions, rebates and volume and early payment discounts. Some of our contracts with customers contain clauses for liquidated damages related to the timing of delivery or milestone accomplishments, which could become material in an event of failure to meet the contractual deadlines. At the inception of the arrangement and on an ongoing basis, we evaluate the probability and magnitude of having to pay liquidated damages. We estimate variable consideration using the expected value method, taking into consideration contract terms, historical customer behavior, and historical sales. In the case of liquidated damages, we also take into consideration progress towards meeting contractual milestones, including whether milestones have not been achieved, specified rates, if applicable, stated in the contract, and history of paying liquidated damages to the customer or similar customers. Variable consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur.

In the normal course of business, we do not accept product returns unless the item is defective as manufactured. We establish provisions for estimated returns and warranties. In addition, we do not typically provide customers with the right to a refund.

Hardware revenue is recognized at a point in time. Transfer of control is typically at the time of shipment, receipt by the customer, or, if applicable, upon receipt of customer acceptance provisions. We will recognize revenue prior to receipt of customer acceptance for hardware in cases where the customer acceptance provision is determined to be a formality. Transfer of control would not occur until receipt of customer acceptance in hardware arrangements where such provisions are subjective or where we do not have history of meeting the acceptance criteria.

Perpetual software licenses are considered to be a right to use intellectual property and are recognized at a point in time. Transfer of control is considered to be at the point at which it is available to the customer to download and use or upon receipt of customer acceptance. In certain contracts, software licenses may be sold with implementation services that include a significant service of integrating, customizing or modifying the software. In these instances, the software license is combined into single performance obligation with the implementation services and recognized over time as the implementation services are performed.

Hardware and software licenses (when not combined with professional services) are typically billed when shipped and revenue recognized at a point-in-time. As a result, the timing of revenue recognition and invoicing does not have a significant impact on contract assets and liabilities.

Professional services, which include implementation, project management, installation, and consulting services are recognized over time. We measure progress towards satisfying these performance obligations using input methods, most commonly based on the costs incurred in relation to the total expected costs to provide the service. We expect this method to best depict our performance in transferring control of services promised to the customer or represents a reasonable proxy for measuring progress. The estimate of expected costs to provide services requires judgment. Cost estimates take into consideration our historical experience and the specific scope requested by the customer and are updated quarterly. We may also offer professional services on a stand-ready basis over a specified period of time, in which case revenue would be recognized ratably over the term. Invoicing of these services is commensurate with performance and occurs on a monthly basis. As such, these services do not have a significant impact on contract assets and contract liabilities.

Cloud services and SaaS arrangements where customers have access to certain of our software within a cloud-based IT environment that we manage, host, and support are offered to customers on a subscription basis. Revenue for the cloud services and SaaS offerings are generally recognized over time, ratably over the contact term commencing with the date the services are made available to the customer.

Services, including professional services, cloud services, and SaaS arrangements, are commonly billed on a monthly basis in arrears and typically result in an unbilled receivable, which is not considered a contract asset as our right to consideration is unconditional.

Certain of our revenue arrangements include an extended or customer-specific warranty provision that covers all or a portion of a customer's replacement or repair costs beyond the standard warranty period. Whether or not the extended warranty is separately priced in the arrangement, such warranties are considered to be a separate good or service, and a portion of the transaction price is allocated to this extended warranty performance obligation. This revenue is recognized ratably over the extended warranty coverage period.

Hardware and software post-sale maintenance support fees are recognized over time, ratably over the life of the related service contract. Support fees are typically billed on an annual basis, resulting in a contract liability. Shipping and handling costs and incidental expenses billed to customers are recognized as revenue, with the associated cost charged to cost of revenues. We recognize sales, use, and value added taxes billed to our customers on a net basis.

Payment terms with customers can vary by customer; however, amounts billed are typically payable within 30 to 90 days, depending on the destination country. We do not typically offer financing as part of our contracts with customers.

We incur certain incremental costs to obtain contracts with customers, primarily in the form of sales commissions. Where the amortization period is one year or less, we have elected to apply the practical expedient and recognize the related commissions expense as incurred. Otherwise, such incremental costs are capitalized and amortized over the contract period. Capitalized incremental costs are not material.

Revenue Recognition - 2017

Revenues consist primarily of hardware sales, software license fees, software implementation, project management services, installation, consulting, and post-sale maintenance support. Revenues are recognized when (1) persuasive evidence of an

arrangement exists, (2) delivery has occurred or services have been rendered, (3) the sales price is fixed or determinable, and (4) collectability is reasonably assured.

Many of our revenue arrangements involve multiple deliverables, which combine two or more of the following: hardware, software, installation, and/or project management services. Separate contracts entered into with the same customer that meet certain criteria such as those that are entered into at or near the same time are evaluated as one single arrangement for purposes of applying multiple element arrangement revenue recognition. Revenue arrangements with multiple deliverables are divided into separate units of accounting at the inception of the arrangement and as each item in the arrangement is delivered. If the delivered item(s) has value to the customer on a standalone basis and delivery/performance of the undelivered item(s) is probable the total arrangement consideration is allocated among the separate units of accounting based on their relative fair values and the applicable revenue recognition criteria are then considered for each unit of accounting. The amount allocable to a delivered item is limited to the amount that we are entitled to collect and that is not contingent upon the delivery/performance of additional items. Revenues for each deliverable are then recognized based on the type of deliverable, such as (1) when the products are shipped, (2) services are delivered, (3) percentage-of-completion for implementation services, (4) upon receipt of customer acceptance, or 5) transfer of title and risk of loss. The majority of our revenue is recognized when products are shipped to or received by a customer or when services are provided.

Hardware revenues are generally recognized at the time of shipment, receipt by the customer, or, if applicable, upon completion of customer acceptance provisions.

Under contract accounting where revenue is recognized using percentage of completion, the cost to cost method is used to measure progress to completion. Revenue from network software and services are recognized using the units-of-delivery method of contract accounting, as network design services and network software are essential to the functionality of the related hardware (network) for certain contracts. This methodology results in the deferral of costs and revenues as professional services and software implementation commence prior to deployment of hardware.

In the unusual instances when we are unable to reliably estimate the cost to complete a contract at its inception, we use the completed contract method of contract accounting. Revenues and costs are recognized upon substantial completion when remaining costs are insignificant and potential risks are minimal.

Change orders and contract modifications entered into after inception of the original contract are analyzed to determine if change orders or modifications are extensions of an existing agreement or are accounted for as a separate arrangement for purposes of applying contract accounting.

If we estimate that the completion of a contract component (unit of accounting) will result in a loss, the loss is recognized in the period in which the loss becomes evident. We reevaluate the estimated loss through the completion of the contract component and adjust the estimated loss for changes in facts and circumstances.

A few of our larger customer arrangements contain clauses for liquidated damages, related to delays in delivery or milestone accomplishments, which could become material in an event of failure to meet the contractual deadlines. At the inception of the arrangement and on an ongoing basis, we evaluate if the liquidated damages represent contingent revenue and, if so, we reduce the amount of consideration allocated to the delivered products and services and recognize it as a reduction in revenue in the period of default. If the arrangement is subject to contract accounting, liquidated damages resulting from failure or expected failure to meet milestones are estimated and are accounted for as a reduction of revenue in the period in which the liquidated damages are deemed probable of occurrence and are reasonably estimable.

Our software customers often purchase a combination of software, software-related services, and post contract customer support (PCS). PCS includes telephone support services and updates or upgrades for software as part of a maintenance program. For these types of arrangements, revenue recognition is dependent upon the availability of vendor specific objective evidence (VSOE) of fair value for any undelivered element. We determine VSOE by reference to the range of comparable standalone sales or stated renewals. We review these standalone sales or renewals on at least an annual basis. If VSOE is established for all undelivered elements in the contract, revenue is recognized for delivered elements when all other revenue recognition criteria are met. Arrangements in which VSOE for all undelivered elements is not established, we recognize revenue under the combined services approach where revenue for software and software related elements is deferred until all software products have been delivered, all software related services have commenced, and undelivered services do not include significant production, customization or modification. This will also result in the deferral of costs for software and software implementation services until the undelivered element commence. Revenue would be recognized over the longest period that services would be provided, which is typically the PCS period.

Cloud services and SaaS arrangements where customers have access to certain of our software within a cloud-based IT environment that we manage, host and support are offered to customers on a subscription basis. Revenue for the cloud services and SaaS offerings are generally recognized ratably over the contact term commencing with the date the services is made available to customers and all other revenue recognition criteria have been satisfied. For arrangements where cloud services and SaaS is provided on a per meter basis, revenue is recognized based on actual meters read during the period.

Certain of our revenue arrangements include an extended or customer-specific warranty provision that covers all or a portion of a customer's replacement or repair costs beyond the standard warranty period. Whether or not the extended warranty is separately priced in the arrangement, a portion of the arrangement's total consideration is allocated to this extended warranty deliverable. This revenue is deferred and recognized over the extended warranty coverage period. Extended or customer-specific warranties do not represent a significant portion of our revenue.

We allocate consideration to each deliverable in an arrangement based on its relative selling price. We determine selling price using VSOE, if it exists, otherwise we use third-party evidence (TPE). We define VSOE as a median price of recent standalone transactions that are priced within a narrow range. TPE is determined based on the prices charged by our competitors for a similar deliverable when sold separately. If neither VSOE nor TPE of selling price exists for a unit of accounting, we use estimated selling price (ESP) to determine the price at which we would transact if the product or service were regularly sold by us on a standalone basis. Our determination of ESP involves a weighting of several factors based on the specific facts and circumstances of the arrangement. The factors considered include historical contractual sales, market conditions and entity specific factors, the cost to produce the deliverable, the anticipated margin on that deliverable, our ongoing pricing strategy and policies, and the characteristics of the varying markets in which the deliverable is sold.

We analyze the selling prices used in our allocation of arrangement consideration on an annual basis. Selling prices are analyzed on a more frequent basis if a significant change in our business necessitates a more timely analysis or if we experience significant variances in our selling prices.

Unearned revenue is recognized when a customer pays for products or services, but the criteria for revenue recognition have not been met as of the balance sheet date. Unearned revenue related primarily to professional services and software associated with our smart metering contracts, extended or customer-specific warranty, and prepaid post-contract support. Deferred costs are recognized for products or services for which ownership (typically defined as title and risk of loss) has transferred to the customer, but the criteria for revenue recognition have not been met as of the balance sheet date. Deferred costs are recognized within other assets in the Consolidated Balance Sheets.

Hardware and software post-sale maintenance support fees, such as post contract support or extended warranty are recognized ratably over the life of the related service contract. Shipping and handling costs and incidental expenses billed to customers are recognized as revenue, with the associated cost charged to cost of revenues. We recognize sales, use, and value added taxes billed to our customers on a net basis.

Product and Software Development Costs

Product and software development costs primarily include employee compensation and third-party contracting fees. We do not capitalize product development costs, and we do not generally capitalize development expenses for computer software to be sold, leased, or otherwise marketed as the costs incurred are immaterial for the relatively short period of time between technological feasibility and the completion of software development.

Stock-Based Compensation

We grant various stock-based compensation awards to our officers, employees, and Board of Directors with service, performance, and market vesting conditions, including stock options, restricted stock units, phantom stock units, and unrestricted stock units (awards). We measure and recognize compensation expense for all awards based on estimated fair values. For awards with only a service condition, we expense stock-based compensation using the straight-line method over the requisite service period for the entire award. For awards with service and performance conditions where vesting is probable, we expense the stock-based compensation on a straight-line basis over the requisite service period for each separately vesting portion of the award. For awards with a market condition, we expense the fair value over the requisite service period. We have elected to account for forfeitures of any awards in stock-based compensation expense prospectively as they occur.

The fair value of stock options is estimated at the date of grant using the Black-Scholes option-pricing model. Options to purchase our common stock are granted with an exercise price equal to the market close price of the stock on the date the Board of Directors approves the grant. Options generally become exercisable in three equal annual installments beginning one year from the date of grant and expire 10 years from the date of grant. Expected volatility is based on a combination of the historical volatility of our common stock and the implied volatility of our traded options for the related expected term. We believe this

combined approach is reflective of current and historical market conditions and is an appropriate indicator of expected volatility. The risk-free interest rate is the rate available as of the award date on zero-coupon U.S. government issues with a term equal to the expected term of the award. The expected term is the weighted average expected term of an award based on the period of time between the date the award is granted and the estimated date the award will be fully exercised. Factors considered in estimating the expected term include historical experience of similar awards, contractual terms, vesting schedules, and expectations of future employee behavior. We have not paid dividends in the past and do not plan to pay dividends in the foreseeable future.

The fair value of a restricted stock unit is the market close price of our common stock on the date of grant. Restricted stock units vest over a maximum period of three years. After vesting, the restricted stock units are converted into shares of our common stock on a one-for-one basis and issued to employees. Certain restricted stock units are issued under the Long-Term Performance Restricted Stock Unit Award Agreement and include performance and market conditions. The final number of shares issued will be based on the achievement of financial targets and our total shareholder return relative to the Russell 3000 Index during the performance periods. Due to the presence of a market condition, we utilize a Monte Carlo valuation model to determine the fair value of the awards at the grant date. Expected volatility is based on the historical volatility of our common stock for the related expected term. We believe this approach is reflective of current and historical market conditions and is an appropriate indicator of expected volatility. The risk-free interest rate is the rate available as of the award date on zero-coupon U.S. government issues with a term equal to the expected term of the award. The expected term is the term of an award based on the period of time between the date of the award and the date the award is expected to vest. The expected term assumption is based upon the plan's performance period as of the date of the award. We have not paid dividends in the past and do not plan to pay dividends in the foreseeable future.

Phantom stock units are a form of share-based award that are indexed to our stock price and are settled in cash upon vesting and accounted for as liability-based awards. Fair value is remeasured at the end of each reporting period based on the market close price of our common stock. Phantom stock units vest over a maximum period of three years. Since phantom stock units are settled in cash, compensation expense recognized over the vesting period will vary based on changes in the fair value of the awards.

The fair value of unrestricted stock awards is the market close price of our common stock on the date of grant, and the awards are deemed fully vested. We expense stock-based compensation at the date of grant for unrestricted stock awards.

Excess tax benefits and deficiencies resulting from employee share-based payment are recognized as income tax provision or benefit in the Consolidated Statements of Operations, and as an operating activity on the Consolidated Statements of Cash Flows.

We also maintain an Employee Stock Purchase Plan (ESPP) for our employees. Under the terms of the ESPP, employees can deduct up to 10% of their regular cash compensation to purchase our common stock at a 5% discount from the fair market value of the stock at the end of each fiscal quarter, subject to other limitations under the plan. The sale of the stock to the employees occurs at the beginning of the subsequent quarter. The ESPP is not considered compensatory, and no compensation expense is recognized for sales of our common stock to employees.

Income Taxes

We account for income taxes using the asset and liability method of accounting. Deferred tax assets and liabilities are recognized based upon anticipated future tax consequences, in each of the jurisdictions that we operate, attributable to: (1) the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases; and (2) net operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured annually using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The calculation of our tax liabilities involves applying complex tax regulations in different tax jurisdictions to our tax positions. The effect on deferred tax assets and liabilities of a change in tax legislation and/or rates is recognized in the period that includes the enactment date. A valuation allowance is recognized to reduce the carrying amounts of deferred tax assets if it is not more likely than not that such assets will be realized. We do not recognize tax liabilities on undistributed earnings of international subsidiaries that are permanently reinvested.

Foreign Exchange

Our consolidated financial statements are reported in U.S. dollars. Assets and liabilities of international subsidiaries with non-U.S. dollar functional currencies are translated to U.S. dollars at the exchange rates in effect on the balance sheet date, or the last business day of the period, if applicable. Revenues and expenses for each subsidiary are translated to U.S. dollars using an average rate for the relevant reporting period. Translation adjustments resulting from this process are included, net of tax, in OCI. Gains and losses that arise from exchange rate fluctuations for monetary asset and liability balances that are not

denominated in an entity's functional currency are included within other income (expense), net in the Consolidated Statements of Operations. Currency gains and losses of intercompany balances deemed to be long-term in nature or designated as a hedge of the net investment in international subsidiaries are included, net of tax, in OCI. Foreign currency losses, net of hedging, of $5.5 million, $3.0 million, and $5.1 million were included in other expenses, net, for the years ended December 31, 2019, 2018, and 2017, respectively.

Fair Value Measurements

For assets and liabilities measured at fair value, the GAAP fair value hierarchy prioritizes the inputs used in different valuation methodologies, assigning the highest priority to unadjusted quoted prices for identical assets and liabilities in actively traded markets (Level 1) and the lowest priority to unobservable inputs (Level 3). Level 2 inputs consist of quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in non-active markets; and model-derived valuations in which significant inputs are corroborated by observable market data either directly or indirectly through correlation or other means. Inputs may include yield curves, volatility, credit risks, and default rates.

Recently Adopted Accounting Standards

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) (ASU 2016-02), which required that substantially all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases previously accounted for as operating leases. The new standard also resulted in enhanced quantitative and qualitative disclosures, including judgments made by management, to provide greater insight into the extent of revenue and expense recognized and expected to be recognized from existing leases. The standard required modified retrospective adoption. We adopted ASC 842, as amended, on January 1, 2019, and it resulted in the recognition of operating lease right-of-use assets, other current liabilities, and operating lease liabilities of $74.6 million, $14.5 million, and $61.5 million, respectively, and a decrease in other current assets and other long-term obligations of $1.5 million and $2.9 million, respectively.

In August 2018, the FASB issued ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, the standard requires an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in ASC 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The standard also requires us to amortize the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. We adopted ASU 2018-15 as of January 1, 2019, and it did not have a material impact on our financial position, results of operations, or cash flows. We classify the capitalized implementation costs as prepaid assets, within other current assets and other long-term assets on our Consolidated Balance Sheets.

In October 2018, the FASB issued ASU 2018-16, Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. We adopted this standard on January 1, 2019, and it did not materially impact our consolidated financial statements. This update establishes OIS rates based on SOFR as an approved benchmark interest rate in addition to existing rates such as the LIBOR swap rate.

Recent Accounting Standards Not Yet Adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) (ASU 2016-13), which replaces the incurred loss impairment methodology in current GAAP with a methodology based on expected credit losses. This estimate of expected credit losses uses a broader range of reasonable and supportable information. This change will result in earlier recognition of credit losses and immaterial modifications to our allowance for doubtful accounts. The FASB also issued codification improvements and transition relief in ASU 2019-04, ASU 2019-05 and ASU 2019-11, hereafter referred to as ASC 326. We will adopt ASC 326, as amended, on January 1, 2020. We do not anticipate that the adoption of ASC 326 will have a material impact on our consolidated financial position, results of operations, or cash flows, but are still evaluating the potential impact.

In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13), which amends the disclosure requirements under ASC 820, Fair Value Measurements. ASU 2018-13 is effective for us beginning with our interim financial reports for the first quarter of 2020. We are currently evaluating the impact this standard will have on our consolidated financial statement disclosures related to assets and liabilities subject to fair value measurement.

In August 2018, the FASB issued ASU 2018-14, Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans (ASU 2018-14), which amends the disclosure requirements under ASC 715-20, Compensation-Retirement Benefits-Defined Benefit Plans. ASU 2018-14 is effective for our financial reporting in 2020. We are currently evaluating the impact this standard will have on our consolidated financial statement disclosures for our defined benefit plans.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (ASU 2019-12), which modifies certain provisions of ASC 740, Income Taxes, in an effort to reduce the complexity of accounting for income taxes. ASU 2019-12 is effective for us beginning with our interim financial reports for the first quarter of 2021. We are currently evaluating the effects and do not believe this standard will have a material impact on our consolidated financial position, results of operations, or cash flows.

Intangible Assets and Liabilities - Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization of intangible assets	$ 64,286	$ 71,713	$ 20,785

Derivative Financial Instruments - Effect of Net Investment Hedge Nonderivative Financial Instrument on OCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	$ (196,305)
Unrealized gain (loss) on derivative instruments	4,061	$ 2,586	$ 360
Realized (gains) losses reclassified into net income (loss)	(5,985)	(2,351)	563
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	(204,672)	(196,305)
Accumulated Net Gain (Loss) from Derivative and Nonderivative Instruments Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	(13,179)	(13,414)	(14,337)
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	$ (15,103)	$ (13,179)	$ (13,414)

Leases - Prior adoption of ASC 842 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Less than 1 year		$ 17,456
1-3 years		26,241
3-5 years		19,659
Beyond 5 years		26,703
Total operating lease liability	$ 85,968	$ 90,059

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]


In thousands, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
2019
Consolidated Statements of Operations data:
Revenues	$	614,576	$	635,037	$	624,474	$	628,383	$	2,502,470
Gross profit	187,263		191,214		196,404		177,438		752,319
Net income (loss) attributable to Itron, Inc.	(1,907)		19,446		16,847		14,620		49,006

Earnings (loss) per common share - Basic⁽¹⁾	$	(0.05)	$	0.49	$	0.43	$	0.37	$	1.24
Earnings (loss) per common share - Diluted⁽¹⁾	$	(0.05)	$	0.49	$	0.42	$	0.36	$	1.23

In thousands, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
2018
Consolidated Statements of Operations data:
Revenues	$	607,221	$	585,890	$	595,962	$	587,044	$	2,376,117
Gross profit	179,855		176,577		197,097		176,790		730,319
Net income (loss) attributable to Itron, Inc.	(145,666)		2,657		19,882		23,877		(99,250)

Earnings (loss) per common share - Basic⁽¹⁾	$	(3.74)	$	0.07	$	0.51	$	0.61	$	(2.53)
Earnings (loss) per common share - Diluted⁽¹⁾	$	(3.74)	$	0.07	$	0.50	$	0.60	$	(2.53)

⁽¹⁾The sum of the quarterly EPS data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly EPS calculations.

Defined Benefit Pension Plans

12 Months Ended

Dec. 31, 2019

Defined Benefit Plan [Abstract]

Defined Benefit Pension Plans

Defined Benefit Pension PlansWe sponsor both funded and unfunded defined benefit pension plans offering death and disability, retirement, and special termination benefits for certain of our international employees, primarily in Germany, France, India, Indonesia, and Italy. The defined benefit obligation is calculated annually by using the projected unit credit method. The measurement date for the pension plans was December 31, 2019.

The following tables set forth the components of the changes in benefit obligations and fair value of plan assets:


	Year Ended December 31,
In thousands	2019		2018
Change in benefit obligation:
Benefit obligation at January 1,	$	105,570	$	110,820
Service cost	3,711		4,034
Interest cost	2,278		2,324
Actuarial (gain) loss	8,798		(2,497)
Benefits paid	(2,970)		(3,018)
Foreign currency exchange rate changes	(1,984)		(5,110)
Curtailment	(36)		(694)
Settlement	(234)		(413)
Other	(915)		124
Benefit obligation at December 31,	$	114,218	$	105,570

Change in plan assets:
Fair value of plan assets at January 1,	$	11,890	$	12,834
Actual return on plan assets	1,134		(54)
Company contributions	289		465
Benefits paid	(411)		(392)
Foreign currency exchange rate changes	(237)		(963)

Fair value of plan assets at December 31,	12,665		11,890
Net pension benefit obligation at fair value	$	101,553	$	93,680

Amounts recognized on the Consolidated Balance Sheets consist of:


	December 31,
In thousands	2019		2018
Assets
Plan assets in other long-term assets	$	44	$	572

Liabilities
Current portion of pension benefit obligation in wages and benefits payable	2,885		2,730
Long-term portion of pension benefit obligation	98,712		91,522

Pension benefit obligation, net	$	101,553	$	93,680

Amounts recognized in OCI (pre-tax) are as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Net actuarial (gain) loss	$	8,762	$	(3,191)	$	(3,209)
Settlement (gain) loss	(250)		(1)		2
Curtailment (gain) loss	—		(1)		586
Plan asset (gain) loss	(526)		724		(192)
Amortization of net actuarial loss	(1,648)		(1,533)		(2,308)
Amortization of prior service cost	(68)		(61)		(62)
Other	(160)		124		—
Other comprehensive (income) loss	$	6,110	$	(3,939)	$	(5,183)

If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities, we amortize them over the employees' average future service period. The estimated net actuarial loss and prior service cost that will be amortized from AOCI into net periodic benefit cost during 2020 is $1.9 million.

Net periodic pension benefit cost for our plans include the following components:


	Year Ended December 31,
In thousands	2019		2018		2017
Service cost	$	3,711	$	4,034	$	3,968
Interest cost	2,278		2,324		2,264
Expected return on plan assets	(608)		(670)		(594)
Amortization of prior service costs	68		61		62
Amortization of actuarial net loss	1,648		1,533		2,308
Settlement	250		1		(2)
Curtailment	—		1		(586)

Net periodic benefit cost	$	7,347	$	7,284	$	7,420

The components of net periodic benefit cost, other than the service cost component, are included in total other income (expense) on the Consolidated Statements of Operations.

The significant actuarial weighted average assumptions used in determining the benefit obligations and net periodic benefit cost for our benefit plans are as follows:


	Year Ended December 31,
	2019		2018		2017
Actuarial assumptions used to determine benefit obligations at end of period:
Discount rate	1.76	%	2.24	%	2.21	%
Expected annual rate of compensation increase	3.76	%	3.60	%	3.64	%
Actuarial assumptions used to determine net periodic benefit cost for the period:
Discount rate	2.24	%	2.21	%	2.18	%
Expected rate of return on plan assets	5.19	%	5.58	%	5.58	%
Expected annual rate of compensation increase	3.60	%	3.64	%	3.65	%

We determine a discount rate for our plans based on the estimated duration of each plan's liabilities. For euro denominated defined benefit pension plans, which represent 93% of our benefit obligation, we use discount rates with consideration of the duration of each of the plans, using a hypothetical yield curve developed from euro-denominated AA-rated corporate bond issues. These bonds are assigned different weights to adjust their relative influence on the yield curve, and the highest and lowest yielding 10% of bonds are excluded within each maturity group. The discount rates used, depending on the duration of the plans, were between 0.25% and 2.00%.

Our expected rate of return on plan assets is derived from a study of actual historic returns achieved and anticipated future long-term performance of plan assets, specific to plan investment asset category. While the study primarily gives consideration to recent insurers' performance and historical returns, the assumption represents a long-term prospective return.

The total accumulated benefit obligation for our defined benefit pension plans was $105.1 million and $97.3 million at December 31, 2019 and 2018, respectively.

The total obligations and fair value of plan assets for plans with projected benefit obligations and accumulated benefit obligations exceeding the fair value of plan assets are as follows:


In thousands	December 31,
			2019			2018
Projected benefit obligation	$	110,656		$	103,059
Accumulated benefit obligation	101,611			94,831
Fair value of plan assets	9,059			8,807

Our asset investment strategy focuses on maintaining a portfolio using primarily insurance funds, which are accounted for as investments and measured at fair value, in order to achieve our long-term investment objectives on a risk adjusted basis. Our general funding policy for these qualified pension plans is to contribute amounts sufficient to satisfy regulatory funding standards of the respective countries for each plan.

The fair values of our plan investments by asset category are as follows:


	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Unobservable Inputs (Level 3)


In thousands	December 31, 2019
Cash	$	926	$	926	$	—
Insurance funds	8,133		—		8,133
Other securities	3,606		—		3,606
Total fair value of plan assets	$	12,665	$	926	$	11,739


In thousands	December 31, 2018
Cash	$	787	$	787	$	—
Insurance funds	8,020		—		8,020
Other securities	3,083		—		3,083
Total fair value of plan assets	$	11,890	$	787	$	11,103

The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2019 and 2018.


In thousands	Balance at January 1, 2019		Net Realized and Unrealized Gains		Net Purchases, Issuances, Settlements, and Other		Effect of Foreign Currency		Balance at December 31, 2019
Insurance funds	$	8,020	$	282	$	(27)	$	(142)	$	8,133
Other securities	3,083		814		(160)		(131)		3,606
Total	$	11,103	$	1,096	$	(187)	$	(273)	$	11,739


In thousands	Balance at January 1, 2018		Net Realized and Unrealized Gains		Net Purchases, Issuances, Settlements, and Other		Effect of Foreign Currency		Balance at December 31, 2018
Insurance funds	$	8,384	$	(158)	$	141	$	(347)	$	8,020
Other securities	3,661		123		(141)		(560)		3,083
Total	$	12,045	$	(35)	$	—	$	(907)	$	11,103

As the plan assets and contributions are not significant to our total company assets, no further disclosures are considered material.

Annual benefit payments for the next 10 years, including amounts to be paid from our assets for unfunded plans and reflecting expected future service, as appropriate, are expected to be paid as follows:


Year Ending December 31,	Estimated Annual Benefit Payments

In thousands
2020	$	3,828
2021	3,463
2022	3,861
2023	4,176
2024	5,141
2025-2029	27,701

Intangible Assets and Liabilities - Gross Carrying Amount and Accumulated Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 979,814	$ 981,160	$ 769,851
Intangible assets, gross (excluding goodwill)	979,814	981,160
Accumulated amortization	(794,717)	(723,577)
Finite-lived intangible assets, Net	185,097	257,583
Intangible assets, net	185,097	257,583
Finite-lived intangible liabilities, gross	(23,900)	(23,900)	0
Finite-lived intangible liabilities, accumulated accretion	13,450	5,217
Finite-lived intangible liabilities, net	(10,450)	(18,683)
Amortization of intangible assets	64,286	71,713	$ 20,785
Core-developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	507,669	507,100
Accumulated amortization	(458,109)	(429,955)
Finite-lived intangible assets, Net	49,560	77,145
Customer contracts and relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	381,288	379,614
Accumulated amortization	(251,509)	(212,538)
Finite-lived intangible assets, Net	129,779	167,076
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	78,837	78,746
Accumulated amortization	(73,732)	(69,879)
Finite-lived intangible assets, Net	5,105	8,867
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	12,020	12,600
Accumulated amortization	(11,367)	(11,205)
Finite-lived intangible assets, Net	653	1,395
Finite-Lived Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	979,814	978,060
Accumulated amortization	(794,717)	(723,577)
Finite-lived intangible assets, Net	185,097	254,483
In Process Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	$ 0	$ 3,100

Defined Benefit Pension Plans - Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at January 1,	$ 105,570	$ 110,820
Service cost	3,711	4,034	$ 3,968
Interest cost	2,278	2,324	2,264
Actuarial (gain) loss	8,798	(2,497)
Benefits paid	2,970	3,018
Foreign currency exchange rate changes	(1,984)	(5,110)
Curtailment	(36)	(694)
Settlement	(234)	(413)
Other	(915)	124
Benefit obligation at December 31,	114,218	105,570	110,820
Fair value of plan assets at January 1,	11,890	12,834
Actual return on plan assets	1,134	(54)
Company contributions	289	465
Benefits paid	411	392
Foreign currency exchange rate changes	(237)	(963)
Fair value of plan assets at December 31,	12,665	11,890	$ 12,834
Net pension benefit obligation at fair value	$ 101,553	$ 93,680

Fair Values of Financial Instruments - Schedule of Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 19, 2018	Dec. 31, 2017	Dec. 22, 2017
Assets
Cash and cash equivalents	$ 149,904	$ 120,221		$ 176,274
Liabilities
Senior notes			$ 100,000		$ 300,000
Line of Credit [Member]
Liabilities
Multicurrency revolving line of credit	0	0
Senior Notes [Member]
Liabilities
Senior notes	400,000	400,000
Reported Value Measurement [Member]
Assets
Cash and cash equivalents	149,904	120,221
Restricted Cash	0	2,107
Foreign exchange forward contracts	96	157
Liabilities
Senior notes	385,987	383,669
Foreign exchange forwards, liability, at fair value	162	337
Reported Value Measurement [Member] \| Line of Credit [Member]
Liabilities
Multicurrency revolving line of credit	0	0
Reported Value Measurement [Member] \| USD Denominated Term Loan [Member]
Liabilities
Term loans	546,495	632,954
Estimate of Fair Value Measurement [Member]
Assets
Cash and cash equivalents, at fair value	149,904	120,221
Restricted Cash	0	2,107
Foreign exchange forward contracts	96	157
Liabilities
Senior notes	416,500	368,000
Foreign exchange forwards, liability, at fair value	162	337
Estimate of Fair Value Measurement [Member] \| Line of Credit [Member]
Liabilities
Multicurrency revolving line of credit, Fair Value of Amount Outstanding	0	0
Estimate of Fair Value Measurement [Member] \| USD Denominated Term Loan [Member]
Liabilities
Term loans, at fair value	550,135	630,971
Interest Rate Swap [Member] \| Reported Value Measurement [Member]
Assets
Derivative Asset, Noncurrent	174	2,612
Interest Rate Swap [Member] \| Estimate of Fair Value Measurement [Member]
Assets
Interest rate swap contracts	174	2,612
Interest Rate Cap [Member] \| Reported Value Measurement [Member]
Assets
Derivative Asset, Noncurrent	1	786
Interest Rate Cap [Member] \| Estimate of Fair Value Measurement [Member]
Assets
Interest rate swap contracts	1	786
Currency Swap [Member] \| Reported Value Measurement [Member]
Assets
Derivative Asset, Noncurrent	4,026	2,970
Currency Swap [Member] \| Estimate of Fair Value Measurement [Member]
Assets
Derivative Asset, Noncurrent	$ 4,026	$ 2,970

Defined Benefit Pension Plans - Schedule of Accumulated Benefit Obligation in Excess of the Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan [Abstract]
Projected benefit obligation	$ 110,656	$ 103,059
Accumulated benefit obligation	101,611	94,831
Fair value of plan assets	$ 9,059	$ 8,807

Derivative Financial Instruments - Derivative Financial Instruments Narrative (Details)	12 Months Ended
	Dec. 31, 2019 USD ($) contracts	Dec. 31, 2018 USD ($) counterparty	Apr. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Derivative [Line Items]
Accumulated other comprehensive income (loss), net of tax	$ (204,672,000)	$ (196,305,000)
Long-term debt	950,156,000
Interest rate			1.38%
Secured Debt [Member]
Derivative [Line Items]
Long-term debt	950,156,000	1,037,813,000
Accumulated Other Comprehensive Income, Net Unrealized Gain (Loss) on Nonderivative Instruments [Member]
Derivative [Line Items]
Accumulated other comprehensive income (loss), net of tax	(14,380,000)	$ (14,380,000)		$ (14,380,000)	$ (14,380,000)
Number of Counterparties [Member]
Derivative [Line Items]
Number of counterparties \| counterparty		5
London Interbank Offered Rate (LIBOR) [Member] \| Secured Debt [Member]
Derivative [Line Items]
Long-term debt	$ 550,200,000
Interest Rate Swap [Member]
Derivative [Line Items]
Number of interest rate derivatives held	1
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months	$ (200,000)
Derivative, Notional Amount	$ 214,000,000
Derivative, Fixed Interest Rate	1.42%
Interest Rate Cap [Member]
Derivative [Line Items]
Number of interest rate derivatives held	3
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months	$ 400,000
Derivative, cap interest rate	2.00%
Derivative, Notional Amount	$ 100,000,000
Derivative Purchase Price	1,700,000
Currency Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount			$ 56,000,000.0
Foreign currency cash flow hedge gain (loss) to be reclassified during next 12 months	$ 1,100,000
Forward Contracts [Member]
Derivative [Line Items]
Number of instruments held \| contracts	48
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Minimum [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 109,000
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Maximum [Member]
Derivative [Line Items]
Derivative, Notional Amount	26,400,000
Foreign Exchange Option [Member]
Derivative [Line Items]
Derivative, Notional Amount	72,000,000
Derivative Purchase Price	$ 1,300,000

Segment Information - Information By Segment (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 628,383,000	$ 624,474,000	$ 635,037,000	$ 614,576,000	$ 587,044,000	$ 595,962,000	$ 585,890,000	$ 607,221,000	$ 2,502,470,000	$ 2,376,117,000	$ 2,018,197,000
Gross profit	$ 177,438,000	$ 196,404,000	$ 191,214,000	$ 187,263,000	$ 176,790,000	$ 197,097,000	$ 176,577,000	$ 179,855,000	752,319,000	730,319,000	676,751,000
Operating Income (Loss)									132,683,000	(49,692,000)	154,877,000
Total other income (expense)									(59,651,000)	(59,459,000)	(20,302,000)
Total income before income taxes									73,032,000	(109,151,000)	134,575,000
Depreciation and amortization of intangible assets									114,400,000	122,497,000	63,215,000
Device Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues									858,881,000	933,365,000	882,896,000
Gross profit									152,562,000	187,254,000	216,631,000
Operating Income (Loss)									97,753,000	130,988,000	159,641,000
Depreciation and amortization of intangible assets									25,542,000	25,022,000	25,757,000
Networked Solutions Segment [Member]
Segment Reporting Information [Line Items]
Total revenues									1,417,254,000	1,224,144,000	947,384,000
Gross profit									518,749,000	482,471,000	412,375,000
Operating Income (Loss)									397,325,000	360,779,000	322,367,000
Depreciation and amortization of intangible assets									13,004,000	12,671,000	7,758,000
Outcomes Segment [Member]
Segment Reporting Information [Line Items]
Total revenues									226,335,000	218,608,000	187,917,000
Gross profit									81,008,000	60,594,000	47,745,000
Operating Income (Loss)									43,803,000	16,634,000	4,915,000
Depreciation and amortization of intangible assets									5,363,000	6,572,000	3,826,000
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)									(406,198,000)	(558,093,000)	(332,046,000)
Depreciation and amortization of intangible assets									70,491,000	78,232,000	25,874,000
Product [Member]
Segment Reporting Information [Line Items]
Total revenues									2,220,395,000	2,095,458,000	1,813,925,000
Product [Member] \| Device Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues									847,580,000	916,809,000	866,028,000
Product [Member] \| Networked Solutions Segment [Member]
Segment Reporting Information [Line Items]
Total revenues									1,322,382,000	1,133,919,000	881,042,000
Product [Member] \| Outcomes Segment [Member]
Segment Reporting Information [Line Items]
Total revenues									50,433,000	44,730,000	66,855,000
Service [Member]
Segment Reporting Information [Line Items]
Total revenues									282,075,000	280,659,000	204,272,000
Service [Member] \| Device Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues									11,301,000	16,556,000	16,868,000
Service [Member] \| Networked Solutions Segment [Member]
Segment Reporting Information [Line Items]
Total revenues									94,872,000	90,225,000	66,342,000
Service [Member] \| Outcomes Segment [Member]
Segment Reporting Information [Line Items]
Total revenues									$ 175,902,000	$ 173,878,000	$ 121,062,000

Commitments and Contingencies - Available Lines of Credit, Outstanding Standby Letter of Credits, and Bonds (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 05, 2018
Line of Credit Facility [Line Items]
Multicurrency revolving line of credit			$ 500,000
Credit Facility [Member]
Line of Credit Facility [Line Items]
Multicurrency revolving line of credit	$ 500,000	$ 500,000
Long-term borrowings	0	0
Standby LOCs issued and outstanding	(41,072)	(40,983)
Line of credit facility, remaining borrowing capacity	258,928	259,017
Unsecured Multicurrency Revolving Lines of Credit [Member]
Line of Credit Facility [Line Items]
Multicurrency revolving line of credit	107,206	108,039
Standby LOCs issued and outstanding	(25,100)	(19,386)
Short-term borrowings	(173)	(2,232)
Line of credit facility, remaining borrowing capacity	81,933	86,421
Surety Bond [Member]
Line of Credit Facility [Line Items]
Unsecured surety bonds in force	136,004	94,365
Line of Credit [Member]
Line of Credit Facility [Line Items]
Long-term borrowings	0	0
Line of credit facility, remaining borrowing capacity	$ 458,928	$ 459,017

Restructuring - Related Balance Sheet Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	$ 75,568
Costs charged to expense	6,278	$ 77,183	$ 6,418
Cash (payments) receipts	(20,715)
Net assets disposed and impaired	3,715
Effect of change in exchange rates	(1,309)
Restructuring Reserve - Ending Balance	56,107	75,568
Employee severance costs
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	72,152
Costs charged to expense	(608)
Cash (payments) receipts	(16,482)
Net assets disposed and impaired	0
Effect of change in exchange rates	(1,321)
Restructuring Reserve - Ending Balance	53,741	72,152
Asset Impairment and Net (Gain) Loss on Sale or Disposal [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	0
Costs charged to expense	(1,785)
Cash (payments) receipts	(5,500)
Net assets disposed and impaired	3,715
Effect of change in exchange rates	0
Restructuring Reserve - Ending Balance	0	0
Other restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	3,416
Costs charged to expense	8,671
Cash (payments) receipts	(9,733)
Net assets disposed and impaired	0
Effect of change in exchange rates	12
Restructuring Reserve - Ending Balance	$ 2,366	$ 3,416

Business Combinations - Revenue and Earnings Attributed to Business Combination (Details) - SIlver Spring Networks, Inc. [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Business Acquisition [Line Items]
Revenues	$ 352,996
Net income (loss)	$ (54,409)

Summary of Significant Accounting Policies - Goodwill and Intangibles Assets Policy Additional Information (Details)	12 Months Ended
	Dec. 31, 2019
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years

Intangible Assets and Liabilities - Intangible Assets Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 05, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Percentage of voting interests acquired		100.00%
In process research and development completed	$ 3,100

Business Combinations

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Business Combinations

Silver Spring Networks, Inc.

On January 5, 2018, we completed the acquisition of SSNI by purchasing 100% of SSNI's outstanding stock. The acquisition was financed through incremental borrowings and cash on hand. Refer to "Note 6: Debt" for further discussion of our debt.

SSNI provided smart network and data platform solutions for electricity, gas, water and smart cities including advanced metering, distribution automation, demand-side management, and street lights. Solutions include one or several of the following: communications modules, access points, relays and bridges; network operating software, grid management, security and grid analytics managed services and SaaS; installation; implementation; and professional services including consulting and analysis. Upon acquisition, SSNI changed its name to Itron Networked Solutions, Inc. (INS) and initially operated separately as our Networks operating segment. Subsequent to the October 1, 2018 reorganization, the prior Networks operating segment was integrated into the new Networked Solutions and Outcomes operating segments.

The purchase price of SSNI was $809.2 million, which is net of $97.8 million of acquired cash and cash equivalents. Of the total consideration $802.5 million was paid in cash. The remaining $6.7 million relates to the fair value of pre-acquisition service for replacement awards of unvested SSNI options and restricted stock unit awards with an Itron equivalent award. We allocated the purchase price to the assets acquired and liabilities assumed based on estimated fair value assessments. During the year ended December 31, 2019, we completed the measurement period for the acquisition of SSNI and any further adjustments to assets acquired or liabilities assumed will be recognized through the Consolidated Statements of Operations.

The following reflects our allocation of purchase price:


	Fair Value		Weighted Average Useful Life
	In thousands		Years
Current Assets	$	88,395
Property, plant, and equipment	27,670		6
Other long-term assets	1,873

Identifiable intangible assets
Core-developed technology	81,900		5
Customer contracts and relationships	134,000		10
Trademark and trade names	10,800		3
Total identified intangible assets subject to amortization	226,700		8
In-process research and development (IPR&D)	14,400
Total identified intangible assets	241,100

Goodwill	569,772
Current liabilities	(93,129)
Customer contracts and relationships	(23,900)		5
Long-term liabilities	(2,565)
Total net assets acquired	$	809,216

The fair values for the identified trademarks and core-developed technology intangible assets were estimated using the relief from royalty method, which values the assets by estimating the savings achieved by ownership of trademark or technology when compared with the cost of licensing it from an independent owner. The fair value of customer contracts and relationship were estimated using the income approach. Under the income approach, the fair value reflects the present value of the projected cash flows that are expected to be generated.

The fair value of IPR&D was valued utilizing the replacement cost method, which measures the value of an asset based on the cost to replace the existing asset. We estimated it would take approximately one year to complete the in-process technology. A profit mark-up was used to account for the return that a third-party developer would require on development efforts for the asset based on expected earnings before interest and taxes, and a return of ten percent was used based on the risk of the asset relative to the overall business. IPR&D will be amortized using the straight-line method after the technology is fully developed and is considered a product offering. Incremental costs to be incurred for these projects are recognized as research and development expense as incurred within the Consolidated Statements of Operations.

Core-developed technology represents the fair values of SSNI products that have reached technological feasibility and were part of SSNI's product offerings at the date of the acquisition. Customer contracts and relationships represent the fair value of the relationships developed with its customers, including the backlog. The core-developed technology, trademarks, and customer contracts and relationships intangible assets valued using the income approach will be amortized using the estimated discounted cash flows assumed in the valuation models.

Goodwill of $569.8 million arising from the acquisition consists largely of the synergies expected from combining the operations of Itron and SSNI, as well as certain intangible assets that do not qualify for separate recognition. All of the goodwill balance was assigned to the prior Networks reporting unit and operating segment. Refer to "Note 5: Goodwill". We will not be able to deduct any of the goodwill balance for income tax purposes.

As a part of the business combination, we incurred $26.6 million and $91.9 million of acquisition and integration related expenses for the year ended December 31, 2019 and 2018, respectively. Acquisition related expenses includes such activities as success fees, certain consulting and advisory costs, and incremental legal and accounting costs. Integration costs are expenses related to integrating SSNI into Itron, and include expenses such as accounting and process integration and the related consulting fees, severance, site closure costs, system integration, and travel associated with knowledge transfers as we consolidate redundant positions. All acquisition and integration related expenses are included within sales, general and administrative expenses in the Consolidated Statements of Operations.

The following table presents the revenues and net loss from SSNI operations that are included in our Consolidated Statements of Operations:


In thousands			January 5, 2018 - December 31, 2018
Revenues	$	352,996
Net income (loss)	(54,409)

The following supplemental pro forma results (unaudited) are based on the individual historical results of Itron and SSNI, with adjustments to give effect to the combined operations as if the acquisition had been consummated on January 1, 2017.


	Year Ended December 31,
In thousands	2018		2017
Revenues	$	2,376,117	$	2,591,211
Net income (loss)	(84,602)		27,289

The significant nonrecurring adjustments reflected in the proforma schedule above are considered material and include the following:

•Elimination of transaction costs incurred by SSNI and Itron prior to the acquisition completion

•Reclassification of certain expenses incurred after the acquisition to the appropriate periods assuming the acquisition closed on January 1, 2017

The supplemental pro forma results are intended for information purposes only and do not purport to represent what the combined companies' results of operations would actually have been had the transaction in fact occurred at an earlier date or project the results for any future date or period.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Revenues Gross Profit And Operating Income By Segment

Revenues, gross profit, and operating income associated with our segments were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Product revenues
Device Solutions	$	847,580	$	916,809	$	866,028
Networked Solutions	1,322,382		1,133,919		881,042
Outcomes	50,433		44,730		66,855
Total Company	$	2,220,395	$	2,095,458	$	1,813,925

Service revenues
Device Solutions	$	11,301	$	16,556	$	16,868
Networked Solutions	94,872		90,225		66,342
Outcomes	175,902		173,878		121,062
Total Company	$	282,075	$	280,659	$	204,272

Total revenues
Device Solutions	$	858,881	$	933,365	$	882,896
Networked Solutions	1,417,254		1,224,144		947,384
Outcomes	226,335		218,608		187,917
Total Company	$	2,502,470	$	2,376,117	$	2,018,197

Gross profit
Device Solutions	$	152,562	$	187,254	$	216,631
Networked Solutions	518,749		482,471		412,375
Outcomes	81,008		60,594		47,745
Total Company	$	752,319	$	730,319	$	676,751

Operating income
Device Solutions	$	97,753	$	130,988	$	159,641
Networked Solutions	397,325		360,779		322,367
Outcomes	43,803		16,634		4,915
Corporate unallocated	(406,198)		(558,093)		(332,046)
Total Company	132,683		(49,692)		154,877
Total other income (expense)	(59,651)		(59,459)		(20,302)
Income (loss) before income taxes	$	73,032	$	(109,151)	$	134,575

Revenues By Region

Revenues by region were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
United States and Canada	$	1,629,742	$	1,442,792	$	1,137,508
Europe, Middle East, and Africa (EMEA)	663,851		733,732		672,942
Latin America and Asia Pacific	208,877		199,593		207,747
Total Company	$	2,502,470	$	2,376,117	$	2,018,197

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

Property, plant, and equipment, net, by geographic area were as follows:


	At December 31,
In thousands	2019		2018
United States	$	99,615	$	93,034
Outside United States	133,613		133,517
Total Company	$	233,228	$	226,551

Depreciation And Amortization Expense Associated With Segments

Depreciation expense is allocated to the operating segments based upon each segments use of the assets. All amortization expense is included in Corporate unallocated. Depreciation and amortization of intangible assets expense associated with our operating segments was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Device Solutions	$	25,542	$	25,022	$	25,757
Networked Solutions	13,004		12,671		7,758
Outcomes	5,363		6,572		3,826
Corporate unallocated	70,491		78,232		25,874
Total Company	$	114,400	$	122,497	$	63,215

Intangible Assets and Liabilities - Summary of Intangible Asset Account Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Beginning balance, Finite-lived intangible assets, gross	$ 981,160	$ 769,851
Intangible assets acquired	0	242,039
Effect of change in exchange rates	(1,346)	(30,730)
Ending balance, Finite-lived intangible assets, gross	979,814	981,160
Finite-lived intangible liabilities, gross	(23,900)	(23,900)	$ 0
Customer contracts and relationships	0	(23,900)
Effect of change in exchange rates	0	0
Intangible assets, gross (excluding goodwill)	$ 979,814	$ 981,160

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

We operate under the Itron brand worldwide and manage and report under three operating segments: Device Solutions, Networked Solutions, and Outcomes.

We have three GAAP measures of segment performance: revenues, gross profit (gross margin), and operating income (operating margin). Intersegment revenues are minimal. Certain operating expenses are allocated to the operating segments based upon internally established allocation methodologies. Corporate operating expenses, interest income, interest expense, other income (expense), and the income tax provision (benefit) are neither allocated to the segments, nor are they included in the measure of segment performance. In addition, we allocate only certain production assets and intangible assets to our operating segments. We do not manage the performance of the segments on a balance sheet basis.

Segment Products

Device Solutions – This segment primarily includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with our broader Itron systems, i.e., hardware-based products not part of a complete "end-to-end" solution. Examples from the Device Solutions portfolio include: standard endpoints that are shipped without Itron communications, such as our standard gas meters, electricity IEC meters, and water meters, in addition to our heat and allocation products; communicating meters that are not a part of an Itron solution such as Smart Spec meters; and the implementation and installation of non-communicating devices, such as gas regulators.

Networked Solutions – This segment primarily includes a combination of communicating devices (smart meters, modules, endpoints, and sensors), network infrastructure, and associated application software designed and sold as a complete solution for acquiring and transporting robust application-specific data. Networked Solutions combines the majority of the assets from the recently acquired SSNI organization with our legacy Itron networking products and software and the implementation and installation of communicating devices into one operating segment. Examples from the Networked Solutions portfolio include: communicating measurement, control, or sensing endpoints such as our Itron® and OpenWay® Riva meters, Itron traditional ERT® technology, Intelis smart gas or water meters, 500G gas communication modules, 500W water communication modules; GenX networking products, network modules and interface cards; and specific network control and management software applications. The IIoT solutions supported by this segment include automated meter reading (AMR), advanced metering infrastructure (AMI), smart grid and distribution automation (DA), and smart street lighting and smart city solutions.

Outcomes – This segment primarily includes our value-added, enhanced software and services in which we manage, organize, analyze, and interpret data to improve decision making, maximize operational profitability, drive resource efficiency, and deliver results for consumers, utilities, and smart cities. Outcomes places an emphasis on delivering to Itron customers high-value, turn-key, digital experiences by leveraging the footprint of our Device Solutions and Networked Solutions segments. The revenues from these offerings are primarily recurring in nature and would include any direct management of Device Solutions, Networked Solutions, and other products on behalf of our end customers. Examples from the Outcomes portfolio include: our meter data management and analytics offerings; our managed service solutions including network-as-a-service and platform-as-a-service, forecasting software and services; and any consulting-based engagement. Within the Outcomes segment, we also identify new business models, including performance-based contracting, to drive broader portfolio offerings across utilities and cities.

Revenues, gross profit, and operating income associated with our segments were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Product revenues
Device Solutions	$	847,580	$	916,809	$	866,028
Networked Solutions	1,322,382		1,133,919		881,042
Outcomes	50,433		44,730		66,855
Total Company	$	2,220,395	$	2,095,458	$	1,813,925

Service revenues
Device Solutions	$	11,301	$	16,556	$	16,868
Networked Solutions	94,872		90,225		66,342
Outcomes	175,902		173,878		121,062
Total Company	$	282,075	$	280,659	$	204,272

Total revenues
Device Solutions	$	858,881	$	933,365	$	882,896
Networked Solutions	1,417,254		1,224,144		947,384
Outcomes	226,335		218,608		187,917
Total Company	$	2,502,470	$	2,376,117	$	2,018,197

Gross profit
Device Solutions	$	152,562	$	187,254	$	216,631
Networked Solutions	518,749		482,471		412,375
Outcomes	81,008		60,594		47,745
Total Company	$	752,319	$	730,319	$	676,751

Operating income
Device Solutions	$	97,753	$	130,988	$	159,641
Networked Solutions	397,325		360,779		322,367
Outcomes	43,803		16,634		4,915
Corporate unallocated	(406,198)		(558,093)		(332,046)
Total Company	132,683		(49,692)		154,877
Total other income (expense)	(59,651)		(59,459)		(20,302)
Income (loss) before income taxes	$	73,032	$	(109,151)	$	134,575

During the year ended December 31, 2017, we recognized an insurance recovery associated with warranty expenses previously recognized as a result of our 2015 product replacement notification. As a result, gross profit increased $8.0 million for the year ended December 31, 2017. After adjusting for the tax impact, the recovery resulted in an increase of $0.13 and $0.12 for basic and diluted EPS, respectively, for the year ended December 31, 2017.

For all periods presented, no single customer represents more than 10% of total Company.

We currently buy a majority of our integrated circuit board assemblies from three suppliers. Management believes that other suppliers could provide similar products, but a change in suppliers, disputes with our suppliers, or unexpected constraints on the suppliers' production capacity could adversely affect operating results.

Revenues by region were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
United States and Canada	$	1,629,742	$	1,442,792	$	1,137,508
Europe, Middle East, and Africa (EMEA)	663,851		733,732		672,942
Latin America and Asia Pacific	208,877		199,593		207,747
Total Company	$	2,502,470	$	2,376,117	$	2,018,197

Property, plant, and equipment, net, by geographic area were as follows:


	At December 31,
In thousands	2019		2018
United States	$	99,615	$	93,034
Outside United States	133,613		133,517
Total Company	$	233,228	$	226,551


	Year Ended December 31,
In thousands	2019		2018		2017
Device Solutions	$	25,542	$	25,022	$	25,757
Networked Solutions	13,004		12,671		7,758
Outcomes	5,363		6,572		3,826
Corporate unallocated	70,491		78,232		25,874
Total Company	$	114,400	$	122,497	$	63,215

Summary of Significant Accounting Policies - Basis of Consolidation Policy Additional Information (Details)	12 Months Ended
	Dec. 31, 2019
Maximum [Member]
Basis of Consolidation [Abstract]
Ownership interest to use equity method	50.00%
Ownership interest to use cost method	20.00%
Minimum [Member]
Basis of Consolidation [Abstract]
Ownership interest to be held for consolidation	50.00%

Summary of Significant Accounting Policies - Revenue Recognition Policy Additional Information (Details)	12 Months Ended
	Dec. 31, 2019
Minimum [Member]
Deferred Revenue Arrangement [Line Items]
Payment terms	30 days
Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Payment terms	90 days

Leases - Components of Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Components of Lease Cost (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating Lease, Cost	$ 23,221
Variable Lease, Cost	2,103
Lease, Cost, Total	25,324
Operating Lease, Payments	19,899
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 23,511

Defined Benefit Pension Plans - Significant Actuarial Weighted Assumptions (Discount Rate) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	1.76%	2.24%	2.21%
Percentage of Benefit Plans Denominated in Euro [Domain]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of benefit plans denominated in euro	93
Shorter duration euro denominated defined benefit plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	0.25%
Longer duration euro denominated defined benefit plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate	2.00%

Summary of Significant Accounting Policies - Stock-Based Compensation (Details)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	Options generally become exercisable in three equal annual installments beginning one year from the date of grant
Expiration period	10 years
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, maximum percentage of employee salary eligible for participation	10.00%
Discount from market price, purchase date	5.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Revenues (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

A summary of significant net changes in the contract assets and the contract liabilities balances during the period is as follows:


In thousands	Contract liabilities, less contract assets
Beginning balance, January 1, 2019	$	102,130

Revenues recognized from beginning contract liability	(57,371)
Increases due to amounts collected or due	328,557
Revenues recognized from current period increases	(282,322)
Other	(2,779)
Ending balance, December 31, 2019	$	88,215

Certain Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 120,861	$ 133,398
Work in process	11,105	9,744
Finished goods	95,930	77,532
Total inventories	$ 227,896	$ 220,674

Goodwill - Schedule of Goodwill Allocated to Reporting Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill acquired	$ (5,978)	$ 575,750
Goodwill [Roll Forward]
Goodwill beginning balance	1,116,533	555,762
Effect of change in exchange rates	(6,648)	(14,979)
Goodwill ending balance	1,103,907	1,116,533
Device Solutions [Member]
Goodwill [Line Items]
Goodwill acquired	0	0
Goodwill [Roll Forward]
Goodwill beginning balance	55,259	56,195
Effect of change in exchange rates	(329)	(936)
Goodwill ending balance	54,930	55,259
Networked Solutions Segment [Member]
Goodwill [Line Items]
Goodwill acquired	(4,938)	475,570
Goodwill [Roll Forward]
Goodwill beginning balance	918,495	455,382
Effect of change in exchange rates	(5,469)	(12,457)
Goodwill ending balance	908,088	918,495
Outcomes Segment [Member]
Goodwill [Line Items]
Goodwill acquired	(1,040)	100,180
Goodwill [Roll Forward]
Goodwill beginning balance	142,779	44,185
Effect of change in exchange rates	(850)	(1,586)
Goodwill ending balance	$ 140,889	$ 142,779

Defined Contribution, Bonus, and Profit Sharing Plans - Schedule of Defined Contribution Plans Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution, Bonus, and Profit Sharing [Abstract]
Defined contribution plans expense	$ 17,882	$ 11,593	$ 11,709

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

On December 22, 2017, H.R.1, commonly referred to as the Tax Cuts and Jobs Act (Tax Act) was enacted into law in the United States. This new tax legislation represents one of the most significant overhauls to the U.S. federal tax code since 1986. The Tax Act lowered the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018. The Tax Act also includes numerous provisions, including, but not limited to, (1) imposing a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that had not been previously taxed in the U.S.; (2) creating a new provision designed to tax global intangible low-tax income (GILTI); (3) generally eliminating U.S. federal taxes on dividends from foreign subsidiaries; (4) eliminating the corporate alternative minimum tax (AMT); (5) creating the base erosion anti-abuse tax (BEAT); (6) establishing the deduction for foreign derived intangible income (FDII); (7) repealing the domestic production activity deduction; and (8) establishing new limitations on deductible interest expense and certain executive compensation.

On December 22, 2017, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 118 (SAB 118), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740, Income Taxes. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the Tax Act is incomplete but is able to determine a reasonable estimate, it must recognize a provisional estimate in the financial statements. Pursuant to SAB 118, we recognized provisional estimates for the impact of the Tax Act in 2017. This included a one-time tax charge of $30.4 million to remeasure our deferred tax assets as a result of these legislative changes. We have completed our accounting for the Tax Act, and we did not make any material adjustments to these provisional amounts for the year ended December 31, 2018.

The following table summarizes the provision (benefit) for U.S. federal, state, and foreign taxes on income from continuing operations:


	Year Ended December 31,
In thousands	2019		2018		2017
Current:
Federal	$	4,859	$	(7,695)	$	7,679
State and local	2,179		(362)		3,841
Foreign	13,771		14,618		12,139
Total current	20,809		6,561		23,659

Deferred:
Federal	2,334		(17,463)		40,340
State and local	(1,846)		(4,492)		(1,144)
Foreign	(6,033)		(22,906)		3,480
Total deferred	(5,545)		(44,861)		42,676

Change in valuation allowance	5,353		25,730		7,991
Total provision (benefit) for income taxes	$	20,617	$	(12,570)	$	74,326

The change in the valuation allowance does not include the impacts of currency translation adjustments, acquisitions, or significant intercompany transactions.

Our tax provision (benefit) as a percentage of income before tax was 28%, 12%, and 55% for 2019, 2018, and 2017, respectively. Our actual tax rate differed from the 21% or 35% U.S. federal statutory tax rate due to various items. A reconciliation of income taxes at the U.S. federal statutory rate of 21% for 2019 and 2018 and 35% for 2017 to the consolidated actual tax rate is as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Income (loss) before income taxes
Domestic	$	57,261	$	(50,463)	$	220,342
Foreign	15,771		(58,688)		(85,767)
Total income before income taxes	$	73,032	$	(109,151)	$	134,575

Expected federal income tax provision	$	15,337	$	(22,922)	$	47,101

Change in valuation allowance	5,353		25,730		7,991

Stock-based compensation	(2,130)		(104)		(1,225)
Foreign earnings	(15,610)		(15,799)		(22,045)
Tax credits	(8,794)		(10,502)		(777)
Uncertain tax positions, including interest and penalties	13,060		7,727		(7,637)
Change in tax rates	4,999		335		41,125
State income tax provision (benefit), net of federal effect	2,805		(4,524)		4,986
U.S. tax provision on foreign earnings	129		25		33
Domestic production activities deduction	—		—		(2,534)
Local foreign taxes	1,471		2,540		2,324
Transaction costs	—		974		2,643
Other, net	3,997		3,950		2,341
Total provision (benefit) from income taxes	$	20,617	$	(12,570)	$	74,326

Change in tax rates line above includes the deferred tax impact of rate changes in 2017 to the U.S., France, and Luxembourg, among others. The rate change in 2019 related primarily to Luxembourg.

Deferred tax assets and liabilities consist of the following:


	December 31,
In thousands	2019		2018
Deferred tax assets
Loss carryforwards⁽¹⁾	$	343,614	$	370,120
Tax credits⁽²⁾	98,098		94,359
Accrued expenses	46,846		43,213
Pension plan benefits expense	17,310		18,086
Warranty reserves	12,961		13,470
Depreciation and amortization	6,112		5,709
Equity compensation	4,685		5,390
Inventory valuation	1,069		1,415
Deferred revenue	8,951		9,062
Leases	13,876		—
Other deferred tax assets, net	9,777		11,319
Total deferred tax assets	563,299		572,143
Valuation allowance	(320,649)		(323,822)
Total deferred tax assets, net of valuation allowance	242,650		248,321

Deferred tax liabilities
Depreciation and amortization	(161,044)		(178,358)
Leases	(12,976)		—
Other deferred tax liabilities, net	(6,540)		(6,676)
Total deferred tax liabilities	(180,560)		(185,034)
Net deferred tax assets	$	62,090	$	63,287

⁽¹⁾For tax return purposes at December 31, 2019, we had U.S. federal loss carryforwards of $187.5 million, which begin to expire in the year 2020. At December 31, 2019, we have net operating loss carryforwards in Luxembourg of $992.7 million, the majority of which can be carried forward indefinitely, offset by a full valuation allowance. The remaining portion of the loss carryforwards are composed primarily of losses in various other state and foreign jurisdictions. The majority of these losses can be carried forward indefinitely. At December 31, 2019, there was a valuation allowance of $320.6 million primarily associated with foreign loss carryforwards and foreign tax credit carryforwards (discussed below).

⁽²⁾For tax return purposes at December 31, 2019, we had: (1) U.S. general business credits of $39.0 million, which begin to expire in 2022; (2) U.S. alternative minimum tax credits of $0.8 million that can be carried forward indefinitely; (3) U.S. foreign tax credits of $50.5 million, which begin to expire in 2024; and (4) state tax credits of $34.4 million, which begin to expire in 2020.

Changes in the valuation allowance for deferred tax assets are summarized as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Balance at beginning of period	$	323,822	$	285,784	$	249,560
Other adjustments	(8,526)		12,308		28,233
Additions charged to costs and expenses	5,353		25,730		7,991
Balance at end of period, noncurrent	$	320,649	$	323,822	$	285,784

We recognize valuation allowances to reduce deferred tax assets to the extent we believe it is more likely than not that a portion of such assets will not be realized. In making such determinations, we consider all available favorable and unfavorable evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and our ability to carry back losses to prior years. We are required to make assumptions and judgments about potential outcomes that lie outside management's control. Our most sensitive and critical factors are the projection, source, and character of future taxable income. Although realization is not assured, management believes it is more likely than not that deferred tax assets, net of valuation allowance, will be realized. The amount of deferred tax assets considered realizable, however, could be reduced in

the near term if estimates of future taxable income during the carryforward periods are reduced or current tax planning strategies are not implemented.

We do not provide U.S. deferred taxes on temporary differences related to our foreign investments that are considered permanent in duration. These temporary differences include undistributed foreign earnings of $13.7 million and $5.1 million at December 31, 2019 and 2018, respectively. Foreign taxes have been provided on these undistributed foreign earnings. As a result of recent changes in U.S. tax legislation, any repatriation of these earnings would not result in additional U.S. federal income tax.

We are subject to income tax in the United States and numerous foreign jurisdictions. Significant judgment is required in evaluating our tax positions and determining our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. We establish reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves are established when we believe that certain positions might be challenged despite our belief that our tax return positions are fully supportable. We adjust these reserves in light of changing facts and circumstances, such as the outcome of tax audits. The provision for income taxes includes the impact of reserve positions and changes to reserves that are considered appropriate.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


In thousands	Total
Unrecognized tax benefits at January 1, 2017	$	57,626
Gross increase to positions in prior years	3,367
Gross decrease to positions in prior years	(5,559)
Gross increases to current period tax positions	6,453
Audit settlements	(5,169)
Decrease related to lapsing of statute of limitations	(3,445)
Effect of change in exchange rates	3,429
Unrecognized tax benefits at December 31, 2017	$	56,702

Gross increase to positions in prior years	22,943
Gross decrease to positions in prior years	(24,949)
Gross increases to current period tax positions	63,869
Audit settlements	(2,977)
Decrease related to lapsing of statute of limitations	(1,368)
Effect of change in exchange rates	(1,662)
Unrecognized tax benefits at December 31, 2018	$	112,558

Gross increase to positions in prior years	1,067
Gross decrease to positions in prior years	(3,296)
Gross increases to current period tax positions	13,762
Audit settlements	—
Decrease related to lapsing of statute of limitations	(1,574)
Effect of change in exchange rates	(802)
Unrecognized tax benefits at December 31, 2019	$	121,715


	At December 31,
In thousands	2019		2018		2017
The amount of unrecognized tax benefits that, if recognized, would affect our effective tax rate	$	120,410	$	111,224	$	55,312

If certain unrecognized tax benefits are recognized they would create additional deferred tax assets. These assets would require a full valuation allowance in certain locations based upon present circumstances.

We classify interest expense and penalties related to unrecognized tax benefits and interest income on tax overpayments as components of income tax expense. The net interest and penalties expense recognized is as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Net interest and penalties expense (benefit)	$	708	$	(990)	$	(543)


	At December 31,
In thousands	2019		2018
Accrued interest	$	2,849	$	2,127
Accrued penalties	1,681		1,758

At December 31, 2019, we are under examination by certain tax authorities. We believe we have appropriately accrued for the expected outcome of all tax matters and do not currently anticipate that the ultimate resolution of these examinations will have a material adverse effect on our financial condition, future results of operations, or cash flows.

Based upon the timing and outcome of examinations, litigation, the impact of legislative, regulatory, and judicial developments, and the impact of these items on the statute of limitations, it is reasonably possible that the related unrecognized tax benefits could change from those recognized within the next twelve months. However, at this time, an estimate of the range of reasonably possible adjustments to the balance of unrecognized tax benefits cannot be made.

We file income tax returns in various jurisdictions. We are subject to income tax examination by tax authorities in our major tax jurisdictions as follows:


Tax Jurisdiction						Years Subject to Audit
U.S. federal						Subsequent to 2001
France						Subsequent to 2012
Germany						Subsequent to 2013
Brazil						Subsequent to 2013
United Kingdom						Subsequent to 2015
Italy						Subsequent to 2014

Derivative Financial Instruments - Effect of Cash Flow Derivatives on the Balance Sheet and Income Statement, Before Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income	$ 6,605	$ 2,507	$ (916)
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(987)	1,306	768
Interest Rate Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income	1,451	1,065	(706)
Interest Rate Cap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	995	18	(183)
Interest Rate Cap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income	1,046	(439)	(210)
Foreign Exchange Option [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	1,141	0	0
Foreign Exchange Option [Member] \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income	1,141	0	0
Currency Swap 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	3,022	1,584	0
Currency Swap 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	0	0	0
Currency Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income	1,632	949	0
Currency Swap [Member] \| Other Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income	$ 1,335	$ 932	$ 0

Commitments and Contingencies - Warranty Account Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in Product Warranty Accrual [Roll Forward]
Beginning balance	$ 60,443	$ 34,862	$ 43,302
Assumed liabilities from acquisition	0	12,946	0
New product warranties	5,202	3,772	7,849
Other adjustments and expirations, net	15,695	22,741	(393)
Claims activity	(27,916)	(12,753)	(18,094)
Effect of change in exchange rates	(183)	(1,125)	2,198
Ending balance	53,241	60,443	34,862
Less: current portion of warranty	38,509	47,205	21,150
Long-term warranty	14,732	13,238	13,712
Total warranty expense (benefit)	17,975	26,513	(2,054)
Loss Contingencies [Line Items]
Other adjustments due to replacement of certain gas meters	$ 15,695	22,741	$ (393)
Device Solutions [Member]
Movement in Product Warranty Accrual [Roll Forward]
Other adjustments and expirations, net		11,400
Loss Contingencies [Line Items]
Other adjustments due to replacement of certain gas meters		$ 11,400

Income Taxes - Schedule of Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 57,261	$ (50,463)	$ 220,342
Foreign	15,771	(58,688)	(85,767)
Total income before income taxes	73,032	(109,151)	134,575
Expected federal income tax provision	15,337	(22,922)	47,101
Change in valuation allowance	5,353	25,730	7,991
Stock-based compensation	(2,130)	(104)	(1,225)
Foreign earnings	(15,610)	(15,799)	(22,045)
Tax credits	(8,794)	(10,502)	(777)
Uncertain tax positions, including interest and penalties	13,060	7,727	(7,637)
Change in tax rates	4,999	335	41,125
State income tax provision (benefit), net of federal effect	2,805	(4,524)	4,986
U.S. tax provision on foreign earnings	129	25	33
Domestic production activities deduction	0	0	(2,534)
Local foreign taxes	1,471	2,540	2,324
Transaction costs	0	974	2,643
Other, net	3,997	3,950	2,341
Total provision (benefit) from income taxes	$ 20,617	$ (12,570)	$ 74,326

Shareholders' Equity - Schedule of Other Comprehensive Income (Loss) Tax Effect (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Before-tax amount [Abstract]
Foreign currency translation adjustment	$ (2,581)	$ (29,130)	$ 54,218
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	2,443	0	484
Net unrealized gain (loss) on derivative instruments designated as cash flow hedges	4,063	2,908	585
Net hedging (gain) loss reclassified into net income (loss)	(6,605)	(2,507)	916
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment and Tax	1,966	2,343	3,401
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	(8,076)	1,596	1,782
Total other comprehensive income (loss), before tax	(8,790)	(24,790)	61,386
Tax (provision) benefit [Abstract]
Foreign currency translation adjustment	(372)	289	(364)
Net unrealized gain (loss) on derivative instruments designated as cash flow hedges	(2)	(322)	(225)
Net hedging (gain) loss reclassified into net income (loss)	620	156	(353)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax	(57)	(690)	(1,047)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	234	(470)	(548)
Total other comprehensive income (loss) tax (provision) benefit	423	(1,037)	(2,537)
Net-of-tax amount
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	(2,953)	(28,841)	53,854
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	2,443	0	484
Net unrealized gain (loss) on derivative instruments designated as cash flow hedges	4,061	2,586	360
Net hedging (gain) loss reclassified into net income (loss)	(5,985)	(2,351)	563
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax	1,909	1,653	2,354
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	(7,842)	1,126	1,234
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (8,367)	$ (25,827)	$ 58,849

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 79,773	$ 0
Operating Lease, Liability, Current	17,049
Operating Lease, Liability, Noncurrent	$ 68,919	$ 0
Operating Lease, Weighted Average Remaining Lease Term	5 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	4.90%

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Leases [Abstract]

Lease, Cost

The components of operating lease expense are as follows:


In thousands	Year Ended December 31, 2019
Operating lease cost	$	23,221
Variable lease cost	2,103
Total operating lease cost	$	25,324

Supplemental cash flow information related to operating leases is as follows:


In thousands	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	19,899
Right-of-use assets obtained in exchange for operating lease liabilities	23,511

Assets And Liabilities, Leases

Supplemental balance sheet information related to operating leases is as follows:


In thousands	December 31, 2019
Operating lease right-of-use assets, net	$	79,773

Other current liabilities	17,049
Operating lease liabilities	68,919
Total operating lease liability	$	85,968
Weighted average remaining lease term - Operating leases	5.9 years
Weighted average discount rate - Operating leases	4.9		%

Lessee, Operating Lease, Liability, Maturity

Remaining maturities of operating lease liabilities as of December 31, 2019 are as follows:


In thousands	December 31, 2019
2020	$	19,747
2021	16,740
2022	14,351
2023	13,700
2024	12,170
Thereafter	22,572
Total lease payments	99,280
Less: imputed interest	(13,312)
Total operating lease liability	$	85,968

Schedule of Future Minimum Rental Payments for Operating Leases

The future obligations under operating leases in effect as of December 31, 2018 as determined prior to adoption of ASC 842 were as follows:


In thousands	December 31, 2018
Less than 1 year	$	17,456
1-3 years	26,241
3-5 years	19,659
Beyond 5 years	26,703
Total operating lease liability	$	90,059

Schedule of Rent Expense

Operating lease rental expense for factories, service and distribution locations, office, and equipment prior to adoption of ASC 842 was as follows:


In thousands	Year Ended December 31,
	2018		2017
Rental expense	$	24,453	$	14,824

Defined Benefit Pension Plans - Schedule of Amounts Recognized in Other Comprehensive Income (loss), pre-tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Net actuarial (gain) loss	$ 8,762	$ (3,191)	$ (3,209)
Settlement (gain) loss	(250)	(1)	2
Curtailment (gain) loss	0	(1)	586
Plan asset (gain) loss	(526)	724	(192)
Amortization of net actuarial loss	(1,648)	(1,533)	(2,308)
Amortization of prior service cost	(68)	(61)	(62)
Other	(160)	124	0
Other comprehensive (income) loss	$ 6,110	$ (3,939)	$ (5,183)

Business Combinations - Business Combinations Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 05, 2018
Business Acquisition [Line Items]
Percentage of voting interests acquired			100.00%
Silver Spring Networks, Inc. acquisition purchase price, net of cash acquired		$ 802,500
Goodwill	$ 569,772
SIlver Spring Networks, Inc. [Member]
Business Acquisition [Line Items]
Percentage of voting interests acquired			100.00%
Total net assets acquired			$ 809,216
Cash acquired from acquisition		97,800
Business acquisition, equity interest issued, or issuable, value			$ 6,700
Goodwill	569,800
Acquisition related costs	$ 26,600	$ 91,900

Defined Benefit Pension Plans - Accumulated Benefit Obligation Additional Details (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan [Abstract]
Defined benefit plan, expected amortization, next fiscal year	$ 1.9
Defined benefit plan, accumulated benefit obligation	$ 105.1	$ 97.3

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt

The components of our borrowings are as follows:


In thousands	December 31, 2019		December 31, 2018
Credit facility
USD denominated term loan	$	550,156	$	637,813
Multicurrency revolving line of credit	—		—
Senior notes	400,000		400,000
Total debt	950,156		1,037,813
Less: current portion of debt ⁽¹⁾	—		28,438
Less: unamortized prepaid debt fees - term loan	3,661		4,859
Less: unamortized prepaid debt fees - senior notes	14,013		16,331
Long-term debt, net	$	932,482	$	988,185

⁽¹⁾During 2019 we made debt prepayments on the term loan in excess of required principal payments, reducing the current portion of debt to zero at December 31, 2019.

Credit Facility

On October 18, 2019 we amended our credit facility that was initially entered on January 5, 2018 (together with the amendment, the "2018 credit facility"). The 2018 credit facility provides for committed credit facilities in the amount of $1.2 billion U.S. dollars. The 2018 credit facility consists of a $650 million U.S. dollar term loan (the term loan) and a multicurrency revolving line of credit (the revolver) with a principal amount of up to $500 million. The revolver also contains a $300 million standby letter of credit sub-facility and a $50 million swingline sub-facility. The October 18, 2019, amendment extended the maturity date to October 18, 2024 and re-amortized the term loan based on the new balance as of the amendment date. The amendment also modified the required interest payments and made it based on total net leverage instead of total leverage. Amounts not borrowed under the revolver are subject to a commitment fee, which is paid in arrears on the last day of each fiscal quarter, ranging from 0.15% to 0.25% and drawn amounts are subject to a margin ranging from 1.00% to 1.75%. Both the term loan and the revolver can be repaid without penalty. Amounts repaid on the term loan may not be reborrowed and amounts borrowed under the revolver may be repaid and reborrowed until the revolver's maturity, at which time all outstanding loans together with all accrued and unpaid interest must be repaid.

The 2018 credit facility permits us and certain of our foreign subsidiaries to borrow in U.S. dollars, euros, British pounds, or, with lender approval, other currencies readily convertible into U.S. dollars. All obligations under the 2018 credit facility are guaranteed by Itron, Inc. and material U.S. domestic subsidiaries and are secured by a pledge of substantially all of the assets of Itron, Inc. and material U.S. domestic subsidiaries, including a pledge of their related assets. This includes a pledge of 100% of

the capital stock of material U.S. domestic subsidiaries and up to 66% of the voting stock (100% of the non-voting stock) of first-tier foreign subsidiaries. In addition, the obligations of any foreign subsidiary who is a foreign borrower, as defined by the 2018 credit facility, are guaranteed by the foreign subsidiary and by its direct and indirect foreign parents. The 2018 credit facility includes debt covenants, which contain certain financial thresholds and place certain restrictions on the incurrence of debt, investments, and the issuance of dividends. We were in compliance with the debt covenants under the 2018 credit facility at December 31, 2019.

Under the 2018 credit facility, we elect applicable market interest rates for both the term loan and any outstanding revolving loans. We also pay an applicable margin, which is based on our total leverage ratio as defined in the credit agreement. The applicable rates per annum may be based on either: (1) the LIBOR rate or EURIBOR rate (subject to a floor of 0%), plus an applicable margin, or (2) the Alternate Base Rate, plus an applicable margin. The Alternate Base Rate election is equal to the greatest of three rates: (i) the prime rate, (ii) the Federal Reserve effective rate plus 0.50%, or (iii) one month LIBOR plus 1%. At December 31, 2019, the interest rates for both the term loan and the revolver was 3.30%, which includes the LIBOR rate plus a margin of 1.50%.

At December 31, 2019, no amount was outstanding under the 2018 credit facility revolver, and $41.1 million was utilized by outstanding standby letters of credit, resulting in $458.9 million available for additional borrowings or standby letters of credit. At December 31, 2019, $258.9 million was available for additional standby letters of credit under the letter of credit sub-facility and no amounts were outstanding under the swingline sub-facility.

Senior Notes

On December 22, 2017 and January 19, 2018, we issued $300 million and $100 million, respectively, of aggregate principal amount of 5.00% senior notes maturing January 15, 2026 (Senior Notes). The proceeds were used to refinance existing indebtedness related to the acquisition of SSNI, pay related fees and expenses, and for general corporate purposes. Interest on the Senior Notes is payable semi-annually in arrears on January 15 and July 15. The Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by each of our subsidiaries that guarantee the senior credit facilities.

Prior to maturity we may redeem some or all of the Senior Notes, together with accrued and unpaid interest, if any, plus a "make-whole" premium. On or after January 15, 2021, we may redeem some or all of the Senior Notes at any time at declining redemption prices equal to 102.50% beginning on January 15, 2021, 101.25% beginning on January 15, 2022 and 100.00% beginning on January 15, 2023 and thereafter to the applicable redemption date. In addition, before January 15, 2021, and subject to certain conditions, we may redeem up to 35% of the aggregate principal amount of Senior Notes with the net proceeds of certain equity offerings at 105.00% thereof to the date of redemption; provided that (i) at least 65% of the aggregate principal amount of Senior Notes remains outstanding after such redemption and (ii) the redemption occurs within 60 days of the closing of any such equity offering.

Debt Maturities

The amount of required minimum principal payments on our long-term debt in aggregate over the next five years, are as follows:


Year Ending December 31,	Minimum Payments
In thousands
2020	$	—
2021	32,422
2022	44,063
2023	44,063
2024	429,608
Thereafter	400,000
Total minimum payments on debt	$	950,156

Defined Benefit Pension Plans - Schedule of Net Periodic Pension Benefit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Service cost	$ 3,711	$ 4,034	$ 3,968
Interest cost	2,278	2,324	2,264
Expected return on plan assets	(608)	(670)	(594)
Amortization of prior service costs	68	61	62
Amortization of actuarial net loss	1,648	1,533	2,308
Settlement	250	1	(2)
Curtailment	0	1	(586)
Net periodic benefit cost	$ 7,347	$ 7,284	$ 7,420

Derivative Financial Instruments - Offsetting of Derivative Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Liabilities Presented in the Consolidated Balance Sheets	$ 162	$ 337
Derivative Financial Instruments	(56)	(103)
Cash Collateral Pledged	0	0
Net Amount	$ 106	$ 234

Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Preferred Stock

We have authorized the issuance of 10 million shares of preferred stock with no par value. In the event of a liquidation, dissolution, or winding up of the affairs of the corporation, whether voluntary or involuntary, the holders of any outstanding preferred stock will be entitled to be paid a preferential amount per share to be determined by our Board of Directors prior to any payment to holders of common stock. There was no preferred stock issued or outstanding at December 31, 2019 or 2018.

Stock Repurchase Authorization

On March 14, 2019, Itron's Board of Directors authorized the Company to repurchase up to $50 million of our common stock over a 12-month period (the 2019 Stock Repurchase Program). Following the announcement of the program and through December 31, 2019, we repurchased 529,396 shares at an average share price of $47.22 (including commissions) for a total of $25 million. The remaining amount authorized for repurchase under the 2019 Stock Repurchase Program is $25 million. In accordance with the terms of our 5% senior notes indenture maturing January 15, 2026, we were limited to a total of $25 million in stock repurchases in 2019.

Other Comprehensive Income (Loss)

The changes in the components of AOCI, net of tax, were as follows:


In thousands	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) on Derivative Instruments		Net Unrealized Gain (Loss) on Nonderivative Instruments		Pension Benefit Obligation Adjustments		Accumulated Other Comprehensive Income (Loss)
Balances at January 1, 2017	$	(182,986)	$	43	$	(14,380)	$	(32,004)	$	(229,327)
OCI before reclassifications	53,854		360		—		2,354		56,568
Amounts reclassified from AOCI	484		563		—		1,234		2,281
Total other comprehensive income (loss)	54,338		923		—		3,588		58,849
Balances at December 31, 2017	$	(128,648)	$	966	$	(14,380)	$	(28,416)	$	(170,478)
OCI before reclassifications	(28,841)		2,586		—		1,653		(24,602)
Amounts reclassified from AOCI	—		(2,351)		—		1,126		(1,225)
Total other comprehensive income (loss)	(28,841)		235		—		2,779		(25,827)
Balances at December 31, 2018	$	(157,489)	$	1,201	$	(14,380)	$	(25,637)	$	(196,305)
OCI before reclassifications	(2,953)		4,061		—		1,909		3,017
Amounts reclassified from AOCI	2,443		(5,985)		—		(7,842)		(11,384)
Total other comprehensive income (loss)	(510)		(1,924)		—		(5,933)		(8,367)
Balances at December 31, 2019	$	(157,999)	$	(723)	$	(14,380)	$	(31,570)	$	(204,672)

The before-tax, income tax (provision) benefit, and net-of-tax amounts related to each component of OCI during the reporting periods were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Before-tax amount
Foreign currency translation adjustment	$	(2,581)	$	(29,130)	$	54,218
Foreign currency translation adjustment reclassified to net income on disposal	2,443		—		484
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	4,063		2,908		585

Net hedging (gain) loss reclassified to net income	(6,605)		(2,507)		916
Net unrealized gain (loss) on defined benefit plans	1,966		2,343		3,401
Net defined benefit plan loss reclassified to net income	(8,076)		1,596		1,782
Total other comprehensive income (loss), before tax	(8,790)		(24,790)		61,386

Tax (provision) benefit
Foreign currency translation adjustment	(372)		289		(364)

Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	(2)		(322)		(225)

Net hedging (gain) loss reclassified to net income	620		156		(353)
Net unrealized gain (loss) on defined benefit plans	(57)		(690)		(1,047)
Net defined benefit plan loss reclassified to net income	234		(470)		(548)
Total other comprehensive income (loss) tax (provision) benefit	423		(1,037)		(2,537)

Net-of-tax amount
Foreign currency translation adjustment	(2,953)		(28,841)		53,854
Foreign currency translation adjustment reclassified to net income on disposal	2,443		—		484
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	4,061		2,586		360

Net hedging (gain) loss reclassified to net income	(5,985)		(2,351)		563
Net unrealized gain (loss) on defined benefit plans	1,909		1,653		2,354
Net defined benefit plan loss reclassified to net income	(7,842)		1,126		1,234
Total other comprehensive income (loss), net of tax	$	(8,367)	$	(25,827)	$	58,849

Defined Benefit Pension Plans - Fair Values of Plan Investments by Asset Category (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	$ 12,665	$ 11,890	$ 12,834
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	926	787
Insurance Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	8,133	8,020
Securities (Assets) [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	3,606	3,083
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	926	787
Fair Value, Inputs, Level 1 [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	926	787
Fair Value, Inputs, Level 1 [Member] \| Insurance Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fair Value, Inputs, Level 1 [Member] \| Securities (Assets) [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	11,739	11,103	12,045
Fair Value, Inputs, Level 3 [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member] \| Insurance Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	8,133	8,020	8,384
Fair Value, Inputs, Level 3 [Member] \| Securities (Assets) [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	$ 3,606	$ 3,083	$ 3,661

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

As part of our risk management strategy, we use derivative instruments to hedge certain foreign currency and interest rate exposures. Refer to "Note 1: Summary of Significant Accounting Policies", "Note 14: Shareholders' Equity", and "Note 15: Fair Values of Financial Instruments" for additional disclosures on our derivative instruments.

The fair values of our derivative instruments are determined using the income approach and significant other observable inputs (are classified as "Level 2" in the fair value hierarchy). We have used observable market inputs based on the type of derivative

and the nature of the underlying instrument. The key inputs include interest rate yield curves (swap rates and futures) and foreign exchange spot and forward rates, all of which are available in an active market. We have utilized the mid-market pricing convention for these inputs. We include, as a discount to the derivative asset, the effect of our counterparty credit risk based on current published credit default swap rates when the net fair value of our derivative instruments is in a net asset position. We consider our own nonperformance risk when the net fair value of our derivative instruments is in a net liability position by discounting our derivative liabilities to reflect the potential credit risk to our counterparty through applying a current market indicative credit spread to all cash flows.

The fair values of our derivative instruments are as follows:



Derivatives Assets	Balance Sheet Location	December 31, 2019		December 31, 2018
Derivatives designated as hedging instruments under Subtopic ASC 815-20				In thousands
Interest rate swap contracts	Other current assets	$	174	$	1,866
Interest rate cap contracts	Other current assets	1		535

Cross currency swap contract	Other current assets	1,156		1,631
Interest rate swap contracts	Other long-term assets	—		746
Interest rate cap contracts	Other long-term assets	—		251
Cross currency swap contract	Other long-term assets	2,870		1,339
Derivatives not designated as hedging instruments under Subtopic ASC 815-20
Foreign exchange forward contracts	Other current assets	96		157


Total asset derivatives		$	4,297	$	6,525

Derivatives Liabilities



Derivatives not designated as hedging instruments under Subtopic ASC 815-20
Foreign exchange forward contracts	Other current liabilities	$	162	$	337

The changes in AOCI, net of tax, for our derivative and nonderivative instruments designated as hedging instruments, net of tax, were as follows:


In thousands	2019		2018		2017
Net unrealized loss on hedging instruments at January 1,	$	(13,179)	$	(13,414)	$	(14,337)
Unrealized gain (loss) on derivative instruments	4,061		2,586		360
Realized (gains) losses reclassified into net income (loss)	(5,985)		(2,351)		563
Net unrealized loss on hedging instruments at December 31,	$	(15,103)	$	(13,179)	$	(13,414)

Reclassification of amounts related to hedging instruments are included in interest expense in the Consolidated Statements of Operations. Included in the net unrealized gain (loss) on hedging instruments at December 31, 2019 and 2018 is a loss of $14.4 million, net of tax, related to our nonderivative net investment hedge, which terminated in 2011. This loss on our net investment hedge will remain in AOCI until such time as earnings are impacted by a sale or liquidation of the associated foreign operation.


Offsetting of Derivative Assets	Gross Amounts of Recognized Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
In thousands					Derivative Financial Instruments			Cash Collateral Received			Net Amount
December 31, 2019	$	4,297	$	(56)		$	—		$	4,241
December 31, 2018	6,525		(103)			—			6,422


Offsetting of Derivative Liabilities	Gross Amounts of Recognized Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
In thousands					Derivative Financial Instruments			Cash Collateral Pledged			Net Amount
December 31, 2019	$	162	$	(56)		$	—		$	106
December 31, 2018	337		(103)			—			234

Our derivative assets and liabilities subject to netting arrangements consist of foreign exchange forward and interest rate contracts with five counterparties at December 31, 2019 and 2018. No derivative asset or liability balance with any of our counterparties was individually significant at December 31, 2019 or 2018. Our derivative contracts with each of these counterparties exist under agreements that provide for the net settlement of all contracts through a single payment in a single currency in the event of default. We have no pledges of cash collateral against our obligations, and we have not received pledges of cash collateral from our counterparties under the associated derivative contracts.

Cash Flow Hedges

As a result of our floating rate debt, we are exposed to variability in our cash flows from changes in the applicable interest rate index. We enter into interest rate caps and swaps to reduce the variability of cash flows from increases in the LIBOR based borrowing rates on our floating rate credit facility. These instruments do not protect us from changes to the applicable margin under our credit facility. At December 31, 2019, our LIBOR-based debt balance was $550.2 million.

In October 2015, we entered into an interest rate swap, which is effective from August 31, 2016 to June 23, 2020, and converts $214 million of our LIBOR based debt from a floating LIBOR interest rate to a fixed interest rate of 1.42% (excluding the applicable margin on the debt). The notional balance will amortize to maturity at the same rate as required minimum payments on our term loan. Changes in the fair value of the interest rate swap are recognized as a component of other comprehensive income (OCI) and are recognized in earnings when the hedged item affects earnings. The amounts paid or received on the hedge are recognized as an adjustment to interest expense along with the earnings effect of the hedged item. The amount of net gains (loss) expected to be reclassified into earnings in the next 12 months is $0.2 million.

In November 2015, we entered into three interest rate cap contracts with a total notional amount of $100 million at a cost of $1.7 million. The interest rate cap contracts expire on June 23, 2020 and were entered into in order to limit our interest rate exposure on $100 million of our variable LIBOR based debt up to 2.00%. In the event LIBOR is higher than 2.00%, we will pay interest at the capped rate of 2.00% with respect to the $100 million notional amount of such agreements. The interest rate cap contracts do not include the effect of the applicable margin. As of December 31, 2016, due to the accelerated revolver payments from surplus cash, we elected to de-designate two of the interest rate cap contracts as cash flow hedges and discontinued the use of cash flow hedge accounting. The amounts recognized in AOCI from de-designated interest rate cap contracts were maintained in AOCI as the forecasted transactions were still probable to occur, and subsequent changes in fair value were recognized within interest expense. In April 2018, due to increases in our total LIBOR-based debt, we elected to re-designate the two interest rate cap contracts as cash flow hedges. Future changes in the fair value of these instruments will be recognized as a component of OCI, and these changes together with amounts previously maintained in AOCI will be recognized in earnings when the hedged item affects earnings. The amounts paid or received on the hedge are recognized as an adjustment to interest expense along with the earnings effect of the hedged item. The amount of net losses expected to be reclassified into earnings for all interest rate cap contracts in the next 12 months is $0.4 million.

In April 2018, we entered into a cross-currency swap, which converts $56.0 million of floating LIBOR-based U.S. Dollar denominated debt into 1.38% fixed rate euro denominated debt. This cross-currency swap matures on April 30, 2021 and mitigates the risk associated with fluctuations in currency rates impacting cash flows related to U.S. Dollar denominated debt in a euro functional currency entity. Changes in the fair value of the cross-currency swap are recognized as a component of OCI and will be recognized in earnings when the hedged item affects earnings. The amounts paid or received on the hedge are recognized as an adjustment to interest expense along with the earnings effect of the hedged item. The amount of net gains expected to be reclassified into earnings in the next 12 months is $1.1 million.

As a result of our forecasted inventory purchases in a non-functional currency, we are exposed to foreign exchange risk. We hedge portions of these purchases. During January 2019, we entered into foreign exchange option contracts for a total notional amount of $72 million at a cost of $1.3 million. The contracts matured ratably throughout the year with final maturity in October 2019. Changes in the fair value of the option contracts were recognized as a component of OCI and were recognized in product cost of revenues when the hedged item affected earnings. As of December 31, 2019, there are no more outstanding foreign exchange option contracts.


Derivatives in Subtopic ASC 815-20 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivative									Gain (Loss) Reclassified from AOCI into Income
														Location	Amount
In thousands	2019		2018		2017		In thousands	2019		2018		2017
Interest rate swap contracts	$	(987)	$	1,306	$	768	Interest expense	$	1,451	$	1,065	$	(706)
Interest rate cap contracts	995		18		(183)		Interest expense	1,046		(439)		(210)
Foreign exchange options	1,141		—		—		Product cost of revenues	1,141		—		—
Cross currency swap contract	3,022		1,584		—		Interest expense	1,632		949		—
Cross currency swap contract	—		—		—		Other income (expense), net	1,335		932		—

Derivatives Not Designated as Hedging Relationships

We are also exposed to foreign exchange risk when we enter into non-functional currency transactions, both intercompany and third-party. At each period-end, non-functional currency monetary assets and liabilities are revalued with the change recognized in other income and expense. We enter into monthly foreign exchange forward contracts, which are not designated for hedge accounting, with the intent to reduce earnings volatility associated with currency exposures. As of December 31, 2019, a total of 48 contracts were offsetting our exposures from the euro, Canadian dollar, Chinese yuan, Indonesian rupiah, Pound sterling, Brazilian real, and various other currencies, with notional amounts ranging from $109,000 to $26.4 million.

The effects of our derivative instruments not designated as hedges on the Consolidated Statements of Operations for the year ended December 31, were as follows:


Derivatives Not Designated as Hedging Instrument under Subtopic ASC 815-20	Location	Gain (Loss) Recognized in Income on Derivatives
In thousands		2019		2018		2017
Foreign exchange forward contracts	Other income (expense), net	$	(2,425)	$	3,448	$	(6,281)
Interest rate cap contracts	Interest expense	—		377		(274)

We will continue to monitor and assess our interest rate and foreign exchange risk and may institute additional derivative instruments to manage such risk in the future.

Debt - Senior Note Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended	37 Months Ended
	Jan. 14, 2023	Jan. 14, 2022	Dec. 31, 2019	Jan. 15, 2026	Jan. 14, 2021	Dec. 31, 2018	Apr. 30, 2018	Jan. 19, 2018	Dec. 22, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Senior notes								$ 100,000	$ 300,000
Interest rate							1.38%
Debt Instrument, redemption period			60 days
Senior Notes [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Senior notes			$ 400,000			$ 400,000
Interest rate			5.00%
Forecast [Member] \| Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, redemption price, percentage of principal amount Redeemed					35.00%
Forecast [Member] \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, amount outstanding, percentage					65.00%
Forecast [Member] \| Debt Instrument, Redemption, Period One [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, redemption price, percentage		102.50%
Forecast [Member] \| Debt Instrument, Redemption, Period Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, redemption price, percentage	101.25%
Forecast [Member] \| Debt Instrument, Redemption, Period Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, redemption price, percentage				100.00%
Forecast [Member] \| Debt Instrument, Redemption, Period Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, redemption price, percentage					105.00%

Income Taxes - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 323,822	$ 285,784	$ 249,560
Other adjustments	(8,526)	12,308	28,233
Additions charged to costs and expenses	5,353	25,730	7,991
Balance at end of period, noncurrent	$ 320,649	$ 323,822	$ 285,784

Summary of Significant Accounting Policies - Restructuring (Details)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Remaining service period of terminated employees	60 days

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax Provision

The following table summarizes the provision (benefit) for U.S. federal, state, and foreign taxes on income from continuing operations:


	Year Ended December 31,
In thousands	2019		2018		2017
Current:
Federal	$	4,859	$	(7,695)	$	7,679
State and local	2,179		(362)		3,841
Foreign	13,771		14,618		12,139
Total current	20,809		6,561		23,659

Deferred:
Federal	2,334		(17,463)		40,340
State and local	(1,846)		(4,492)		(1,144)
Foreign	(6,033)		(22,906)		3,480
Total deferred	(5,545)		(44,861)		42,676

Change in valuation allowance	5,353		25,730		7,991
Total provision (benefit) for income taxes	$	20,617	$	(12,570)	$	74,326

Income Tax Rate Reconciliation

A reconciliation of income taxes at the U.S. federal statutory rate of 21% for 2019 and 2018 and 35% for 2017 to the consolidated actual tax rate is as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Income (loss) before income taxes
Domestic	$	57,261	$	(50,463)	$	220,342
Foreign	15,771		(58,688)		(85,767)
Total income before income taxes	$	73,032	$	(109,151)	$	134,575

Expected federal income tax provision	$	15,337	$	(22,922)	$	47,101

Change in valuation allowance	5,353		25,730		7,991

Stock-based compensation	(2,130)		(104)		(1,225)
Foreign earnings	(15,610)		(15,799)		(22,045)
Tax credits	(8,794)		(10,502)		(777)
Uncertain tax positions, including interest and penalties	13,060		7,727		(7,637)
Change in tax rates	4,999		335		41,125
State income tax provision (benefit), net of federal effect	2,805		(4,524)		4,986
U.S. tax provision on foreign earnings	129		25		33
Domestic production activities deduction	—		—		(2,534)
Local foreign taxes	1,471		2,540		2,324
Transaction costs	—		974		2,643
Other, net	3,997		3,950		2,341
Total provision (benefit) from income taxes	$	20,617	$	(12,570)	$	74,326

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following:


	December 31,
In thousands	2019		2018
Deferred tax assets
Loss carryforwards⁽¹⁾	$	343,614	$	370,120
Tax credits⁽²⁾	98,098		94,359
Accrued expenses	46,846		43,213
Pension plan benefits expense	17,310		18,086
Warranty reserves	12,961		13,470
Depreciation and amortization	6,112		5,709
Equity compensation	4,685		5,390
Inventory valuation	1,069		1,415
Deferred revenue	8,951		9,062
Leases	13,876		—
Other deferred tax assets, net	9,777		11,319
Total deferred tax assets	563,299		572,143
Valuation allowance	(320,649)		(323,822)
Total deferred tax assets, net of valuation allowance	242,650		248,321

Deferred tax liabilities
Depreciation and amortization	(161,044)		(178,358)
Leases	(12,976)		—
Other deferred tax liabilities, net	(6,540)		(6,676)
Total deferred tax liabilities	(180,560)		(185,034)
Net deferred tax assets	$	62,090	$	63,287

(2)For tax return purposes at December 31, 2019, we had: (1) U.S. general business credits of $39.0 million, which begin to expire in 2022; (2) U.S. alternative minimum tax credits of $0.8 million that can be carried forward indefinitely; (3) U.S. foreign tax credits of $50.5 million, which begin to expire in 2024; and (4) state tax credits of $34.4 million, which begin to expire in 2020.

Summary of Valuation Allowance

Changes in the valuation allowance for deferred tax assets are summarized as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Balance at beginning of period	$	323,822	$	285,784	$	249,560
Other adjustments	(8,526)		12,308		28,233
Additions charged to costs and expenses	5,353		25,730		7,991
Balance at end of period, noncurrent	$	320,649	$	323,822	$	285,784

Unrecognized Tax Benefits Related To Uncertain Tax Positions

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


In thousands	Total
Unrecognized tax benefits at January 1, 2017	$	57,626
Gross increase to positions in prior years	3,367
Gross decrease to positions in prior years	(5,559)
Gross increases to current period tax positions	6,453
Audit settlements	(5,169)
Decrease related to lapsing of statute of limitations	(3,445)
Effect of change in exchange rates	3,429
Unrecognized tax benefits at December 31, 2017	$	56,702

Gross increase to positions in prior years	22,943
Gross decrease to positions in prior years	(24,949)
Gross increases to current period tax positions	63,869
Audit settlements	(2,977)
Decrease related to lapsing of statute of limitations	(1,368)
Effect of change in exchange rates	(1,662)
Unrecognized tax benefits at December 31, 2018	$	112,558

Gross increase to positions in prior years	1,067
Gross decrease to positions in prior years	(3,296)
Gross increases to current period tax positions	13,762
Audit settlements	—
Decrease related to lapsing of statute of limitations	(1,574)
Effect of change in exchange rates	(802)
Unrecognized tax benefits at December 31, 2019	$	121,715


	At December 31,
In thousands	2019		2018		2017
The amount of unrecognized tax benefits that, if recognized, would affect our effective tax rate	$	120,410	$	111,224	$	55,312

The net interest and penalties expense recognized is as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Net interest and penalties expense (benefit)	$	708	$	(990)	$	(543)


	At December 31,
In thousands	2019		2018
Accrued interest	$	2,849	$	2,127
Accrued penalties	1,681		1,758

We file income tax returns in various jurisdictions. We are subject to income tax examination by tax authorities in our major tax jurisdictions as follows:


Tax Jurisdiction						Years Subject to Audit
U.S. federal						Subsequent to 2001
France						Subsequent to 2012
Germany						Subsequent to 2013
Brazil						Subsequent to 2013
United Kingdom						Subsequent to 2015
Italy						Subsequent to 2014

Stock-Based Compensation - Stock-Based Compensation Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($)
Share-based Payment Arrangement, Option [Member]
[Line Items]
Compensation cost not yet recognized \| $	$ 2.5
Unrecognized compensation expense, expected weighted average period for recognition	2 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
[Line Items]
Compensation cost not yet recognized \| $	$ 32.1
Unrecognized compensation expense, expected weighted average period for recognition	1 year 10 months 24 days
Phantom Share Units (PSUs) [Member]
[Line Items]
Compensation cost not yet recognized \| $	$ 5.3
Unrecognized compensation expense, expected weighted average period for recognition	2 years 1 month 6 days
Deferred compensation share-based arrangements, liability, current \| $	$ 2.3	$ 1.5
Employee Stock [Member]
[Line Items]
Number of shares available for future grant under the Stock Incentive Plan (in shares) \| shares	232,563
SSNI Plan [Member]
[Line Items]
Number of shares authorized for issuance under the Stock Incentive Plan (in shares) \| shares	2,299,591
Stock Incentive Plan [Member]
[Line Items]
Number of shares authorized for issuance under the Stock Incentive Plan (in shares) \| shares	12,623,538
Number of shares available for future grant under the Stock Incentive Plan (in shares) \| shares	5,977,990
Reduction in stock options available for issue (in shares)	1
Authorized share reserve reduction in awards other than stock options or share appreciation rights available for issue, conversion ratio	1.7

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The components of our borrowings are as follows:


In thousands	December 31, 2019		December 31, 2018
Credit facility
USD denominated term loan	$	550,156	$	637,813
Multicurrency revolving line of credit	—		—
Senior notes	400,000		400,000
Total debt	950,156		1,037,813
Less: current portion of debt ⁽¹⁾	—		28,438
Less: unamortized prepaid debt fees - term loan	3,661		4,859
Less: unamortized prepaid debt fees - senior notes	14,013		16,331
Long-term debt, net	$	932,482	$	988,185

⁽¹⁾During 2019 we made debt prepayments on the term loan in excess of required principal payments, reducing the current portion of debt to zero at December 31, 2019.

Schedule of Maturities of Long-term Debt

The amount of required minimum principal payments on our long-term debt in aggregate over the next five years, are as follows:


Year Ending December 31,	Minimum Payments
In thousands
2020	$	—
2021	32,422
2022	44,063
2023	44,063
2024	429,608
Thereafter	400,000
Total minimum payments on debt	$	950,156

Defined Contribution, Bonus, and Profit Sharing Plans - Schedule of Bonus and Profit Sharing Plans Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution, Bonus, and Profit Sharing [Abstract]
Bonus and profit sharing plans expense	$ 48,435	$ 15,466	$ 40,005

Derivative Financial Instruments - Derivatives Not Designated as Hedging Relationships (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Income (Expense) [Member]
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Gain (Loss) on foreign currency derivative instruments	$ (2,425)	$ 3,448	$ (6,281)
Interest Rate Cap [Member] \| Interest Expense [Member]
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Gain (loss) on interest rate derivative instruments	$ 0	$ 377	$ (274)

Quarterly Results (Unaudited) (Details) - USD ($)

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Total revenues

$ 628,383,000

$ 624,474,000

$ 635,037,000

$ 614,576,000

$ 587,044,000

$ 595,962,000

$ 585,890,000

$ 607,221,000

$ 2,502,470,000

$ 2,376,117,000

$ 2,018,197,000

Gross profit

177,438,000

196,404,000

191,214,000

187,263,000

176,790,000

197,097,000

176,577,000

179,855,000

752,319,000

730,319,000

676,751,000

Net Income (Loss) Attributable to Parent

$ 14,620,000

$ 16,847,000

$ 19,446,000

$ (1,907,000)

$ 23,877,000

$ 19,882,000

$ 2,657,000

$ (145,666,000)

$ 49,006,000

$ (99,250,000)

$ 57,298,000

Earnings (loss) per common share - Basic (in dollars per share)

$ 0.37

^[1]

$ 0.43

^[1]

$ 0.49

^[1]

$ (0.05)

^[1]

$ 0.61

^[1]

$ 0.51

^[1]

$ 0.07

^[1]

$ (3.74)

^[1]

$ 1.24

^[1]

$ (2.53)

^[1]

$ 1.48

Earnings (loss) per common share - Diluted (in dollars per share)

$ 0.36

^[1]

$ 0.42

^[1]

$ 0.49

^[1]

$ (0.05)

^[1]

$ 0.60

^[1]

$ 0.50

^[1]

$ 0.07

^[1]

$ (3.74)

^[1]

$ 1.23

^[1]

$ (2.53)

^[1]

$ 1.45

[1]	The sum of the quarterly EPS data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly EPS calculations.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Stock-Based Compensation - Phantom Stock Units Summary (Details) - Phantom Share Units (PSUs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning balance (in shares)	83	63	62
Converted upon acquisition (in shares)		21
Granted (in shares)	55	41	32
Issued (in shares)	(42)	(35)	(20)
Forfeited, Number	(7)	(7)	(11)
Outstanding, ending balance (in shares)	89	83	63
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 61.80
Granted (in dollars per share)	60.49	$ 66.67	$ 65.55
Released (in dollars per share)	57.13
Forfeitures (in dollars per share)	66.09
Outstanding, ending balance (in dollars per share)	$ 62.85	$ 61.80
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested	$ 2,625	$ 2,409	$ 1,310

Stock-Based Compensation - Restricted Stock Units Summary (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning balance (in shares)	817	556	701
Converted upon acquisition (in shares)		579
Granted (in shares)	404	387	273
Forfeited (in shares)	(66)	(112)	(46)
Outstanding, ending balance (in shares)	684	817	556
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 59.70	$ 47.68
Shares converted upon acquisition (in dollars per share)		69.40
Granted (in dollars per share)	62.97	57.48	$ 50.95
Forfeitures (in dollars per share)	66.12
Outstanding, ending balance (in dollars per share)	$ 64.38	$ 59.70	$ 47.68
Vested and Released [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Issued (in shares)	(471)	(593)	(372)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Released (in dollars per share)	$ 62.28
Released, Aggregate Intrinsic Value	$ 29,304	$ 32,567	$ 14,219
Vested but Not Released [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Issued (in shares)	(72)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Released, Aggregate Intrinsic Value	$ 6,037

Restructuring (Tables)

12 Months Ended

Dec. 31, 2019

Restructuring Project [Line Items]

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the activity within the restructuring related balance sheet accounts for the 2018 and 2016 Projects during the year ended December 31, 2019:


In thousands	Accrued Employee Severance		Asset Impairments & Net Gain on Sale or Disposal		Other Accrued Costs		Total
Beginning balance, January 1, 2019	$	72,152	$	—	$	3,416	$	75,568
Costs charged to expense	(608)		(1,785)		8,671		6,278
Cash (payments) receipts	(16,482)		5,500		(9,733)		(20,715)
Net assets disposed and impaired	—		(3,715)		—		(3,715)
Effect of change in exchange rates	(1,321)		—		12		(1,309)
Ending balance, December 31, 2019	$	53,741	$	—	$	2,366	$	56,107

2018 Projects [Member]

Restructuring Project [Line Items]

Restructuring and Related Costs

The total expected restructuring costs, the recognized restructuring costs, and the remaining expected restructuring costs related to the 2018 Projects are as follows:


In thousands	Total Expected Costs at December 31, 2019		Costs Recognized in Prior Periods		Costs Recognized During the Year Ended December 31, 2019		Expected Remaining Costs to be Recognized at December 31, 2019
Employee severance costs	$	72,133	$	73,778	$	(1,645)	$	—
Asset impairments & net loss on sale or disposal	3,842		117		3,725		—
Other restructuring costs	24,910		4,228		7,192		13,490
Total	$	100,885	$	78,123	$	9,272	$	13,490

2016 Projects [Member]

Restructuring Project [Line Items]

Restructuring and Related Costs

The total expected restructuring costs, the recognized restructuring costs, and the remaining expected restructuring costs related to the 2016 Projects are as follows:


In thousands	Total Expected Costs at December 31, 2019		Costs Recognized in Prior Periods		Costs Recognized During the Year Ended December 31, 2019		Expected Remaining Costs to be Recognized at December 31, 2019
Employee severance costs	$	36,882	$	35,845	$	1,037	$	—
Asset impairments & net loss (gain) on sale or disposal	154		5,664		(5,510)		—
Other restructuring costs	13,942		11,763		1,479		700
Total	$	50,978	$	53,272	$	(2,994)	$	700

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	000-22418
Entity Registrant Name	ITRON, INC.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-1011792
Entity Address, Address Line One	2111 N Molter Road
Entity Address, City or Town	Liberty Lake
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	99019
City Area Code	(509)
Local Phone Number	924-9900
Title of 12(b) Security	Common stock, no par value
Trading Symbol	ITRI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 2,437,476,482
Entity Common Stock, Shares Outstanding		39,956,068
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCEThe information called for by Part III is incorporated by reference to the definitive Proxy Statement for the Annual Meeting of Shareholders of the Company to be held on May 7, 2020.
Entity Central Index Key	0000780571
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

Certain Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Accounts Receivable, Net


Accounts receivable, net
In thousands	December 31, 2019		December 31, 2018
Trade receivables (net of allowance of $3,064 and $6,331)	$	415,887	$	416,503
Unbilled receivables	57,038		20,658
Total accounts receivable, net	$	472,925	$	437,161

Allowance for Credit Losses on Financing Receivables


Allowance for doubtful account activity	Year Ended December 31,
In thousands	2019		2018		2017
Beginning balance	$	6,331	$	3,957	$	3,320
Provision for (release of) doubtful accounts, net	(1,511)		3,874		1,656
Accounts written-off	(1,749)		(1,281)		(1,351)
Effect of change in exchange rates	(7)		(219)		332
Ending balance	$	3,064	$	6,331	$	3,957

Inventories


Inventories
In thousands	December 31, 2019		December 31, 2018
Raw materials	$	120,861	$	133,398
Work in process	11,105		9,744
Finished goods	95,930		77,532
Total inventories	$	227,896	$	220,674

Property, Plant, and Equipment


Property, plant, and equipment, net
In thousands	December 31, 2019		December 31, 2018
Machinery and equipment	$	323,003	$	315,974
Computers and software	109,924		104,290
Buildings, furniture, and improvements	149,471		146,071
Land	14,988		14,980
Construction in progress, including purchased equipment	54,490		49,682
Total cost	651,876		630,997
Accumulated depreciation	(418,648)		(404,446)
Property, plant, and equipment, net	$	233,228	$	226,551

Depreciation Expense


Depreciation expense	Year Ended December 31,
In thousands	2019		2018		2017
Depreciation expense	$	50,114	$	50,784	$	42,430

Restructuring

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring

2018 Projects

On February 22, 2018, our Board of Directors approved a restructuring plan (2018 Projects) to continue our efforts to optimize our global supply chain and manufacturing operations, research and development, and sales and marketing organizations. We expect to substantially complete expense recognition on the plan by the end of 2020. Many of the affected employees are represented by unions or works councils, which require consultation, and potential restructuring projects may be subject to regulatory approval, both of which could impact the timing of charges, total expected charges, cost recognized, and planned savings in certain jurisdictions.

The total expected restructuring costs, the recognized restructuring costs, and the remaining expected restructuring costs related to the 2018 Projects are as follows:


In thousands	Total Expected Costs at December 31, 2019		Costs Recognized in Prior Periods		Costs Recognized During the Year Ended December 31, 2019		Expected Remaining Costs to be Recognized at December 31, 2019
Employee severance costs	$	72,133	$	73,778	$	(1,645)	$	—
Asset impairments & net loss on sale or disposal	3,842		117		3,725		—
Other restructuring costs	24,910		4,228		7,192		13,490
Total	$	100,885	$	78,123	$	9,272	$	13,490

2016 Projects

On September 1, 2016, we announced projects (2016 Projects) to restructure various company activities in order to improve operational efficiencies, reduce expenses and improve competitiveness. We closed or consolidated several facilities and reduce our global workforce as a result of the restructuring. The 2016 Projects were initiated during the third quarter of 2016 and were substantially complete as of December 31, 2018.

In April 2019, we completed the sale of our property in Stretford, United Kingdom. A gain on sale of $5.4 million was included in restructuring expense in the Consolidated Statements of Operations.

The total expected restructuring costs, the recognized restructuring costs, and the remaining expected restructuring costs related to the 2016 Projects are as follows:


In thousands	Total Expected Costs at December 31, 2019		Costs Recognized in Prior Periods		Costs Recognized During the Year Ended December 31, 2019		Expected Remaining Costs to be Recognized at December 31, 2019
Employee severance costs	$	36,882	$	35,845	$	1,037	$	—
Asset impairments & net loss (gain) on sale or disposal	154		5,664		(5,510)		—
Other restructuring costs	13,942		11,763		1,479		700
Total	$	50,978	$	53,272	$	(2,994)	$	700

The following table summarizes the activity within the restructuring related balance sheet accounts for the 2018 and 2016 Projects during the year ended December 31, 2019:


In thousands	Accrued Employee Severance		Asset Impairments & Net Gain on Sale or Disposal		Other Accrued Costs		Total
Beginning balance, January 1, 2019	$	72,152	$	—	$	3,416	$	75,568
Costs charged to expense	(608)		(1,785)		8,671		6,278
Cash (payments) receipts	(16,482)		5,500		(9,733)		(20,715)
Net assets disposed and impaired	—		(3,715)		—		(3,715)
Effect of change in exchange rates	(1,321)		—		12		(1,309)
Ending balance, December 31, 2019	$	53,741	$	—	$	2,366	$	56,107

Asset impairments are determined at the asset group level. Revenues and net operating income from the activities we have exited or will exit under the restructuring projects are not material to our operating segments or consolidated results.

Other restructuring costs include expenses for employee relocation, professional fees associated with employee severance, and costs to exit the facilities once the operations in those facilities have ceased. Costs associated with restructuring activities are generally presented in the Consolidated Statements of Operations as restructuring, except for certain costs associated with inventory write-downs, which are classified within cost of revenues, and accelerated depreciation expense, which is recognized according to the use of the asset.

The current portion of restructuring liabilities were $18.9 million and $36.0 million as of December 31, 2019 and 2018, respectively. The current portion of restructuring liabilities is classified within other current liabilities on the Consolidated Balance Sheets. The long-term portion of restructuring liabilities balances were $37.2 million and $39.6 million as of

December 31, 2019 and 2018, respectively. The long-term portion of restructuring liabilities is classified within other long-term obligations on the Consolidated Balance Sheets and include severance accruals and facility exit costs.All restructuring costs are recognized within the Corporate unallocated reporting segment.

Revenues - Remaining Performance Obligations (Details) $ in Millions	Dec. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 1,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 931
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Segment Information - Segment Results Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2019

^[1]

Sep. 30, 2019

^[1]

Jun. 30, 2019

^[1]

Mar. 31, 2019

^[1]

Dec. 31, 2018

^[1]

Sep. 30, 2018

^[1]

Jun. 30, 2018

^[1]

Mar. 31, 2018

^[1]

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Segment Reporting Information [Line Items]

Number of operating segments

Unusual or infrequent item, or both, insurance proceeds

$ 8.0

Earnings (loss) per common share - Basic (in dollars per share)

$ 0.37

$ 0.43

$ 0.49

$ (0.05)

$ 0.61

$ 0.51

$ 0.07

$ (3.74)

$ 1.24

^[1]

$ (2.53)

^[1]

$ 1.48

Earnings (loss) per common share - Diluted (in dollars per share)

$ 0.36

$ 0.42

$ 0.49

$ (0.05)

$ 0.60

$ 0.50

$ 0.07

$ (3.74)

$ 1.23

^[1]

$ (2.53)

^[1]

1.45

Insurance Recovery, net of tax [Member] | Water Operating Segment [Member]

Segment Reporting Information [Line Items]

Earnings (loss) per common share - Basic (in dollars per share)

0.13

Earnings (loss) per common share - Diluted (in dollars per share)

$ 0.12

Sales [Member] | Threshold for Reporting Customer Concentration [Member]

Segment Reporting Information [Line Items]

Percentage of total company revenue represented by one customer

10.00%

[1]	The sum of the quarterly EPS data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly EPS calculations.

Shareholders' Equity - Preferred Stock Information (Details) - $ / shares shares in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0	0
Preferred stock, shares outstanding (in shares)	0	0	0
Preferred stock, par value (in dollars per share)

Derivative Financial Instruments - Derivative and Nonderivative Hedging Instrument Fair Value Disclosure (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Asset Derivatives [Abstract]
Total asset derivatives	$ 4,297,000	$ 6,525,000
Liability Derivatives [Abstract]
Intangible assets, gross (excluding goodwill)	979,814,000	981,160,000
Net Amount	106,000	234,000
Net Amount	4,241,000	6,422,000
Cash Collateral Received	0	0
Gross Amounts of Recognized Assets Presented in the Consolidated Balance Sheets	4,297,000	6,525,000
Gross Amounts of Recognized Liabilities Presented in the Consolidated Balance Sheets	162,000	337,000
Designated as Hedging Instrument [Member] \| Other Current Assets [Member] \| Interest Rate Swap [Member]
Asset Derivatives [Abstract]
Interest rate swap contracts	174,000	1,866,000
Designated as Hedging Instrument [Member] \| Other Current Assets [Member] \| Interest Rate Cap [Member]
Asset Derivatives [Abstract]
Interest rate cap contracts	1,000	535,000
Designated as Hedging Instrument [Member] \| Other Current Assets [Member] \| Currency Swap [Member]
Asset Derivatives [Abstract]
Cross currency swap contract	1,156,000	1,631,000
Designated as Hedging Instrument [Member] \| Other Noncurrent Assets [Member] \| Interest Rate Swap [Member]
Asset Derivatives [Abstract]
Interest rate cap contracts	0	746,000
Designated as Hedging Instrument [Member] \| Other Noncurrent Assets [Member] \| Interest Rate Cap [Member]
Asset Derivatives [Abstract]
Interest rate cap contracts	0	251,000
Designated as Hedging Instrument [Member] \| Other Noncurrent Assets [Member] \| Currency Swap [Member]
Asset Derivatives [Abstract]
Cross currency swap contract	2,870,000	1,339,000
Not Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Asset Derivatives [Abstract]
Foreign exchange forward contracts	96,000	157,000
Not Designated as Hedging Instrument [Member] \| Other Current Liabilities [Member]
Liability Derivatives [Abstract]
Foreign exchange forward contracts	$ 162,000	$ 337,000

Stock-Based Compensation - Long-Term Performance Restricted Stock Unit Award Monte Carlo Pricing Model Assumptions (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 62.97	$ 57.48	$ 50.95
Long Term Performance Restricted Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	31.40%	28.00%	28.00%
Risk-free interest rate	2.50%	2.20%	1.00%
Expected term (years)	1 year 7 months 6 days	2 years 1 month 6 days	1 year 8 months 12 days
Granted (in dollars per share)	$ 61.25	$ 78.56	$ 77.75

Leases - Operating Lease Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
2020	$ 19,747
2021	16,740
2022	14,351
2023	13,700
2024	12,170
Thereafter	22,572
Total lease payments	99,280
Less: imputed interest	(13,312)
Total operating lease liability	$ 85,968	$ 90,059

Commitments and Contingencies - Incurred But Not Reported Health Benefit Cost Accrual (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
IBNR accrual	$ 3,171	$ 3,643

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 52,415	$ (96,581)	$ 60,249
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(510)	(28,841)	54,338
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	(1,924)	235	923
Pension benefit obligation adjustment	5,933	(2,779)	(3,588)
Total other comprehensive income (loss), net of tax	(8,367)	(25,827)	58,849
Total comprehensive income (loss), net of tax	44,048	(122,408)	119,098
Comprehensive income attributable to noncontrolling interest, net of tax	3,409	2,669	2,951
Comprehensive income (loss) attributable to Itron, Inc.	$ 40,639	$ (125,077)	$ 116,147

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, noncurrent	$ 37,200	$ 39,600
Restructuring reserve, current	18,900	$ 36,000
Stretford Member [Member]
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Sale of Properties	$ 5,400

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Net income (loss)	$ 52,415	$ (96,581)	$ 60,249
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of intangible assets	114,400	122,497	63,215
Non-cash operating lease expense	18,958	0	0
Stock-based compensation	26,960	31,263	21,407
Amortization of prepaid debt fees	5,631	7,046	1,067
Deferred taxes, net	(192)	(19,130)	50,667
Restructuring, non-cash	(1,785)	859	(2,297)
Other adjustments, net	(4,295)	1,452	3,673
Increase (Decrease) in Operating Capital [Abstract]
Accounts receivable	(39,467)	15,524	(17,573)
Inventories	(9,389)	(25,613)	(16,242)
Other current assets	(31,128)	(23,589)	8,112
Other long-term assets	7,053	3,020	11,230
Accounts payables, other current liabilities, and taxes payable	9,177	20,101	78,463
Wages and benefits payable	30,835	(9,565)	1,926
Unearned revenue	8,905	27,584	(41,309)
Warranty	(6,637)	20,815	(10,554)
Other operating, net	(8,601)	34,072	(20,680)
Net cash provided by operating activities	172,840	109,755	191,354
Investing activities
Acquisitions of property, plant, and equipment	(60,749)	(59,952)	(49,495)
Business acquisitions, net of cash equivalents acquired	0	(803,075)	(99,386)
Other investing, net	12,569	369	702
Net cash used in investing activities	(48,180)	(862,658)	(148,179)
Financing activities
Proceeds from borrowings	50,000	778,938	335,000
Payments on debt	(137,657)	(363,359)	(29,063)
Issuance of common stock	24,390	9,171	3,609
Prepaid debt fees	(1,560)	(24,042)	0
Repurchase of common stock	25,000	0	0
Other financing, net	(7,692)	(4,887)	(7,587)
Net cash provided by (used in) financing activities	(97,519)	395,821	301,959
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	435	(7,925)	8,636
Increase (decrease) in cash, cash equivalents, and restricted cash	27,576	(365,007)	353,770
Cash, cash equivalents, and restricted cash at beginning of period	122,328	487,335	133,565
Cash, cash equivalents, and restricted cash at end of period	149,904	122,328	487,335
Supplemental disclosure of cash flow information:
Income taxes, net	12,041	13,771	28,969
Interest	$ 44,788	$ 42,347	$ 10,106

Defined Contribution, Bonus, and Profit Sharing (Tables)

12 Months Ended

Dec. 31, 2019

Defined Contribution, Bonus, and Profit Sharing [Abstract]

Schedule of Costs of Retirement Plans

The expense for our defined contribution plans was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Defined contribution plans expense	$	17,882	$	11,593	$	11,709

Schedule of Bonus and Profit Sharing Expenses

Bonus and profit sharing plans and award expense was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Bonus and profit sharing plans expense	$	48,435	$	15,466	$	40,005

Revenues

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenues

A summary of significant net changes in the contract assets and the contract liabilities balances during the period is as follows:


In thousands	Contract liabilities, less contract assets
Beginning balance, January 1, 2019	$	102,130

Revenues recognized from beginning contract liability	(57,371)
Increases due to amounts collected or due	328,557
Revenues recognized from current period increases	(282,322)
Other	(2,779)
Ending balance, December 31, 2019	$	88,215

On January 1, 2019, total contract assets were $34.3 million and total contract liabilities were $136.5 million. On December 31, 2019, total contract assets were $50.7 million and total contract liabilities were $138.9 million. The contract assets primarily relate to contracts that include a retention clause and allocations related to contracts with multiple performance obligations. The contract liabilities primarily relate to deferred revenue, such as extended warranty and maintenance cost.

Transaction price allocated to the remaining performance obligations

Total transaction price allocated to remaining performance obligations represents committed but undelivered products and services for contracts and purchase orders at period end. Twelve-month remaining performance obligations represent the portion of total transaction price allocated to remaining performance obligations that we estimate will be recognized as revenue over the next 12 months. Total transaction price allocated to remaining performance obligations is not a complete measure of our future revenues as we also receive orders where the customer may have legal termination rights but are not likely to terminate.

Total transaction price allocated to remaining performance obligations related to contracts is approximately $1.4 billion for the next twelve months and approximately $931 million for periods longer than 12 months. The total remaining performance obligations consists of product and service components. The service component relates primarily to maintenance agreements for

which customers pay a full year's maintenance in advance, and service revenues are generally recognized over the service period. Total transaction price allocated to remaining performance obligations also includes our extended warranty contracts, for which revenue is recognized over the warranty period, and hardware, which is recognized as units are delivered. The estimate of when remaining performance obligations will be recognized requires significant judgment.

Cost to obtain a contract and cost to fulfill a contract with a customer

Cost to obtain a contract and costs to fulfill a contract were capitalized and amortized using a systematic rational approach to align with the transfer of control of underlying contracts with customers. While amounts were capitalized, they are not material.

Disaggregation of revenue

Refer to "Note 16: Segment Information" and the Consolidated Statements of Operations for disclosure regarding the disaggregation of revenue into categories, which depict how revenue and cash flows are affected by economic factors. Specifically, our operating segments and geographical regions as disclosed, and categories for products, which include hardware and software and services, are presented.

Goodwill (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table reflects changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018:


In thousands	Device Solutions		Networked Solutions		Outcomes		Total Company

Goodwill balance at January 1, 2018	$	56,195	$	455,382	$	44,185	$	555,762

Goodwill acquired	—		475,570		100,180		575,750
Effect of change in exchange rates	(936)		(12,457)		(1,586)		(14,979)

Goodwill balance at December 31, 2018	55,259		918,495		142,779		1,116,533

Goodwill acquired	—		(4,938)		(1,040)		(5,978)
Effect of change in exchange rates	(329)		(5,469)		(850)		(6,648)

Goodwill balance at December 31, 2019	$	54,930	$	908,088	$	140,889	$	1,103,907

Defined Contribution Bonus and Profit Sharing Plans

12 Months Ended

Dec. 31, 2019

Defined Contribution, Bonus, and Profit Sharing [Abstract]

Defined Contribution, Bonus, and Profit Sharing Plans

Defined Contribution Plans

In the United States, United Kingdom, and certain other countries, we make contributions to defined contribution plans. For our U.S. employee savings plan, which represents a majority of our contribution expense, we provide a 75% match on the first 6% of the employee salary deferral, subject to statutory limitations. For our international defined contribution plans, we provide various levels of contributions, based on salary, subject to stipulated or statutory limitations. The expense for our defined contribution plans was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Defined contribution plans expense	$	17,882	$	11,593	$	11,709

Bonus and Profit Sharing Plans and Awards

We have employee bonus and profit sharing plans in which many of our employees participate, as well as an award program, which allows for recognition of individual employees' achievements. The bonus and profit sharing plans provide award amounts for the achievement of performance and financial targets. As the bonuses are being earned during the year, we estimate a compensation accrual each quarter based on the progress towards achieving the goals, the estimated financial forecast for the year, and the probability of achieving results. Bonus and profit sharing plans and award expense was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Bonus and profit sharing plans expense	$	48,435	$	15,466	$	40,005

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lessee, Operating Leases

Leases

We lease certain factories, service and distribution locations, offices, and equipment under operating leases. Our operating leases have initial lease terms ranging from 1 to 9 years, some of which include options to extend or renew the leases for up to 10 years. Certain lease agreements contain provisions for future rent increases. Our leases do not contain material residual value guarantees, and finance leases are not material.

The components of operating lease expense are as follows:


In thousands	Year Ended December 31, 2019
Operating lease cost	$	23,221
Variable lease cost	2,103
Total operating lease cost	$	25,324

Supplemental cash flow information related to operating leases is as follows:


In thousands	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	19,899
Right-of-use assets obtained in exchange for operating lease liabilities	23,511

Supplemental balance sheet information related to operating leases is as follows:


In thousands	December 31, 2019
Operating lease right-of-use assets, net	$	79,773

Other current liabilities	17,049
Operating lease liabilities	68,919
Total operating lease liability	$	85,968
Weighted average remaining lease term - Operating leases	5.9 years
Weighted average discount rate - Operating leases	4.9		%

Remaining maturities of operating lease liabilities as of December 31, 2019 are as follows:


In thousands	December 31, 2019
2020	$	19,747
2021	16,740
2022	14,351
2023	13,700
2024	12,170
Thereafter	22,572
Total lease payments	99,280
Less: imputed interest	(13,312)
Total operating lease liability	$	85,968

Operating lease rental expense for factories, service and distribution locations, office, and equipment prior to adoption of ASC 842 was as follows:


In thousands	Year Ended December 31,
	2018		2017
Rental expense	$	24,453	$	14,824

The future obligations under operating leases in effect as of December 31, 2018 as determined prior to adoption of ASC 842 were as follows:


In thousands	December 31, 2018
Less than 1 year	$	17,456
1-3 years	26,241
3-5 years	19,659
Beyond 5 years	26,703
Total operating lease liability	$	90,059

Revenues - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Revenues - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Contract with customer, asset, gross	$ 50,700	$ 34,300
Contract with customer, liability	138,900	136,500
Contract with customer, liability, revenue recognized	(282,322)
Other current assets	146,526	118,085
Unearned revenue	99,556	93,621
Retained earnings (accumulated deficit)	$ (376,390)	$ (425,396)

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

We grant stock-based compensation awards under the Second Amended and Restated 2010 Stock Incentive Plan (Stock Incentive Plan), including stock options, restricted stock units, phantom stock, and unrestricted stock units. In the Stock Incentive Plan, we have 12,623,538 shares of common stock reserved and authorized for issuance subject to stock splits, dividends, and other similar events. At December 31, 2019, 5,977,990 shares were available for grant under the Stock Incentive Plan. We issue new shares of common stock upon the exercise of stock options or when vesting conditions on restricted stock units are fully satisfied. These shares are subject to a fungible share provision such that the authorized share reserve is reduced by (i) one share for every one share subject to a stock option or share appreciation right granted under the Plan and (ii) 1.7 shares for every one share of common stock that was subject to an award other than an option or share appreciation right.

As part of the acquisition of SSNI, we reserved and authorized 2,299,591 shares, collectively, of Itron common stock to be issued under the Stock Incentive Plan for certain SSNI common stock awards that were converted to Itron common stock awards on January 5, 2018 (Acquisition Date) pursuant to the Agreement and Plan of Merger or were available for issuance pursuant to future awards under the Silver Spring Networks, Inc. 2012 Equity Incentive Plan (SSNI Plan). New stock-based compensation awards originally from the SSNI Plan may only be made to individuals who were not employees of Itron as of the Acquisition Date. Notwithstanding the foregoing, there is no fungible share provision for shares originally from the SSNI Plan.

We also periodically award phantom stock units, which are settled in cash upon vesting and accounted for as liability-based awards with no impact to the shares available for grant.

In addition, we maintain the ESPP, for which 232,563 shares of common stock were available for future issuance at December 31, 2019.

Unrestricted stock and ESPP activity for the years ended December 31, 2019, 2018, and 2017 was not significant.

Stock-Based Compensation Expense

Total stock-based compensation expense and the related tax benefit were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Stock options	$	1,770	$	3,675	$	2,695
Restricted stock units	24,560		26,859		17,738
Unrestricted stock awards	630		729		974
Phantom stock units	3,301		2,165		1,747
Total stock-based compensation	$	30,261	$	33,428	$	23,154

Related tax benefit	$	5,390	$	6,019	$	5,034

Stock Options

A summary of our stock option activity is as follows:


	Shares	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value		Weighted Average Grant Date Fair Value
	In thousands			Years	In thousands
Outstanding, January 1, 2017	959	$	45.64	6.6	$	19,125
Granted	135	65.94					$	21.99
Exercised	(41)	39.92			$	1,071
Forfeited	(35)	47.38
Expired	(62)	70.12
Outstanding, December 31, 2017	956	$	47.10	6.3	$	21,965

Converted upon acquisition	42	$	51.86				$	14.86
Granted	122	68.21					$	24.29
Exercised	(152)	38.99			$	4,520
Forfeited	(7)	60.03
Expired	(66)	95.31
Outstanding, December 31, 2018	895	$	47.93	6.2	$	4,806

Granted	76	$	76.55				$	26.20
Exercised	(489)	43.55			$	15,759
Forfeited	(13)	67.34
Expired	(11)	66.24
Outstanding, December 31, 2019	458	$	56.38	7.0	$	12,641

Exercisable, December 31, 2019	272	$	46.37	5.8	$	10,223

At December 31, 2019, total unrecognized stock-based compensation expense related to unvested stock options was $2.5 million, which is expected to be recognized over a weighted average period of approximately 2.3 years.

The weighted-average assumptions used to estimate the fair value of stock options granted and the resulting weighted average fair value are as follows:


	Year Ended December 31,
	2019		2018		2017
Expected volatility	31.7	%	30.5	%	32.5	%
Risk-free interest rate	1.7	%	2.8	%	2.0	%
Expected term (years)	6.1		6.1		5.5

Restricted Stock Units

The following table summarizes restricted stock unit activity:


	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
	In thousands			In thousands
Outstanding, January 1, 2017	701
Granted	273	$	50.95
Released	(372)			$	14,219
Forfeited	(46)
Outstanding, December 31, 2017	556	$	47.68

Converted upon acquisition	579	$	69.40
Granted	387	$	57.48
Released	(593)			$	32,567
Forfeited	(112)
Outstanding, December 31, 2018	817	$	59.70

Granted	404	$	62.97
Released	(471)	$	62.28	$	29,304
Forfeited	(66)	$	66.12
Outstanding, December 31, 2019	684	$	64.38

Vested but not released, December 31, 2019	72			$	6,037

At December 31, 2019, total unrecognized compensation expense on restricted stock units was $32.1 million, which is expected to be recognized over a weighted average period of approximately 1.9 years.

The weighted-average assumptions used to estimate the fair value of performance-based restricted stock units granted with a service and market condition and the resulting weighted average fair value are as follows:


	Year Ended December 31,
	2019			2018			2017
Expected volatility	31.4		%	28.0		%	28.0		%
Risk-free interest rate	2.5		%	2.2		%	1.0		%
Expected term (years)	1.6			2.1			1.7

Weighted average grant date fair value	$	61.25		$	78.56		$	77.75

Phantom Stock Units

The following table summarizes phantom stock unit activity:


	Number of Phantom Stock Units	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
	In thousands			In thousands
Outstanding, January 1, 2017	62
Granted	32	$	65.55
Released	(20)			$	1,310
Forfeited	(11)
Outstanding, December 31, 2017	63



Outstanding, January 1, 2018	63
Converted upon acquisition	21
Granted	41	$	66.67
Released	(35)			$	2,409
Forfeited	(7)
Outstanding, December 31, 2018	83



Outstanding, January 1, 2019	83	$	61.80
Granted	55	$	60.49
Released	(42)	$	57.13	$	2,625
Forfeited	(7)	$	66.09
Outstanding, December 31, 2019	89	$	62.85

At December 31, 2019, total unrecognized compensation expense on phantom stock units was $5.3 million, which is expected to be recognized over a weighted average period of approximately 2.1 years. As of December 31, 2019 and 2018, we have recognized a phantom stock liability of $2.3 million and $1.5 million, respectively, within wages and benefits payable in the Consolidated Balance Sheets.

Fair Values of Financial Instruments

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Values of Financial Instruments

The fair values at December 31, 2019 and 2018 do not reflect subsequent changes in the economy, interest rates, tax rates, and other variables that may affect the determination of fair value.


	December 31, 2019						December 31, 2018
In thousands	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets
Cash and cash equivalents	$	149,904	$	149,904	$	120,221	$	120,221
Restricted cash	—		—		2,107		2,107
Foreign exchange forwards	96		96		157		157
Interest rate swaps	174		174		2,612		2,612
Interest rate caps	1		1		786		786
Cross currency swaps	4,026		4,026		2,970		2,970
Liabilities
Credit facility
USD denominated term loan	$	546,495	$	550,135	$	632,954	$	630,971
Multicurrency revolving line of credit	—		—		—		—
Senior notes	385,987		416,500		383,669		368,000
Foreign exchange forwards	162		162		337		337

The following methods and assumptions were used in estimating fair values:

Cash, cash equivalents, and restricted cash: Due to the liquid nature of these instruments, the carrying value approximates fair value (Level 1).

Credit Facility - term loan and multicurrency revolving line of credit: The term loan and revolver are not traded publicly. The fair values, which are determined based upon a hypothetical market participant, are calculated using a discounted cash flow model with Level 2 inputs, including estimates of incremental borrowing rates for debt with similar terms, maturities, and credit profiles. Refer to "Note 6: Debt" for a further discussion of our debt.

Senior Notes: The Senior Notes are not registered securities nor listed on any securities exchange, but may be actively traded by qualified institutional buyers. The fair value is estimated using Level 1 inputs, as it is based on quoted prices for these instruments in active markets.

Derivatives: See "Note 7: Derivative Financial Instruments" for a description of our methods and assumptions in determining the fair value of our derivatives, which were determined using Level 2 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 149,904	$ 120,221
Accounts receivable, net	472,925	437,161
Inventories	227,896	220,674
Other current assets	146,526	118,085
Total current assets	997,251	896,141
Property, plant, and equipment, net	233,228	226,551
Deferred tax assets, net	63,899	64,830
Restricted cash	0	2,056
Other long-term assets	44,686	45,288
Intangible assets, net	185,097	257,583
Goodwill	1,103,907	1,116,533
Total assets	2,707,841	2,608,982
Current liabilities
Accounts payable	328,128	309,951
Other current liabilities	63,785	70,136
Wages and benefits payable	119,220	88,603
Taxes payable	22,193	14,753
Current portion of debt	0	28,438
Current portion of warranty	38,509	47,205
Unearned revenue	99,556	93,621
Total current liabilities	671,391	652,707
Long-term debt, net	932,482	988,185
Long-term warranty	14,732	13,238
Pension benefit obligation	98,712	91,522
Deferred tax liabilities, net	1,809	1,543
Other long-term obligations	118,981	127,739
Total liabilities	1,907,026	1,874,934
Commitments and Contingencies (Note 12)
Equity
Preferred stock, no par value, 10,000 shares authorized, no shares issued or outstanding	0	0
Common stock, no par value, 75,000 shares authorized, 39,941 and 39,498 shares issued and outstanding	1,357,600	1,334,364
Accumulated other comprehensive loss, net	(204,672)	(196,305)
Accumulated deficit	(376,390)	(425,396)
Total Itron, Inc. shareholders' equity	776,538	712,663
Noncontrolling interests	24,277	21,385
Total equity	800,815	734,048
Total liabilities and equity	2,707,841	2,608,982
Operating Lease, Right-of-Use Asset	79,773	0
Operating Lease, Liability, Noncurrent	$ 68,919	$ 0

Earnings Per Share - Stock-based Awards (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Stock-based awards excluded from diluted EPS calculation (antidilutive) (in shares)	0.4	1.1	0.2

Commitments and Contingencies - Health Benefit Plan Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Plan costs	$ 33,611	$ 41,543	$ 30,521

Debt - Credit Facility Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 19, 2018	Jan. 05, 2018	Dec. 22, 2017
Debt Instrument [Line Items]
Debt instrument, face amount				$ 1,200,000,000
Line of credit facility, maximum borrowing capacity				500,000,000
Senior notes			$ 100,000,000		$ 300,000,000
Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				300,000,000
Letters of credit outstanding, amount	$ 41,100,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				50,000,000
Multicurrency revolving line of credit	0
USD Denominated Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 650,000,000
Line of Credit [Member]
Debt Instrument [Line Items]
Multicurrency revolving line of credit	0	$ 0
Line of credit facility, remaining borrowing capacity	$ 458,928,000	459,017,000
Secured Debt [Member]
Debt Instrument [Line Items]
Debt instrument, collateral	All obligations under the 2018 credit facility are guaranteed by Itron, Inc. and material U.S. domestic subsidiaries and are secured by a pledge of substantially all of the assets of Itron, Inc. and material U.S. domestic subsidiaries, including a pledge of their related assets. This includes a pledge of 100% of the capital stock of material U.S. domestic subsidiaries and up to 66% of the voting stock (100% of the non-voting stock) of first-tier foreign subsidiaries. In addition, the obligations of any foreign subsidiary who is a foreign borrower, as defined by the 2018 credit facility, are guaranteed by the foreign subsidiary and by its direct and indirect foreign parents.
Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.15%
Debt instrument, interest rate at period end	1.00%
Debt instrument, basis spread on variable rate	0.00%
Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Debt instrument, interest rate at period end	1.75%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate at period end	3.30%
Debt instrument, description of variable rate basis	the LIBOR rate
Debt instrument, basis spread on variable rate	1.50%
EURIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis	EURIBOR rate
Alternate base rate (1) [Member]
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis	the prime rate
Alternate base rate (2) [Member]
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis	the Federal Reserve effective rate
Alternate base rate (3) [Member]
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis	one month LIBOR
Federal Reserve Effect Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 500,000,000	500,000,000
Multicurrency revolving line of credit	0	0
Letters of credit outstanding, amount	41,072,000	40,983,000
Line of credit facility, remaining borrowing capacity	$ 258,928,000	$ 259,017,000

Revenues - Contract with Customer, Asset and Liability Rollforward (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Beginning balance, January 1, 2019	$ 102,130
Revenues recognized from beginning contract liability	(57,371)
Increases due to amounts collected or due	328,557
Revenues recognized from current period increases	(282,322)
Other	(2,779)
Ending balance, December 31, 2019	$ 88,215

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill beginning balance	$ 1,116,533	$ 555,762
Goodwill acquired	(5,978)	575,750
Effect of change in exchange rates	(6,648)	(14,979)
Goodwill ending balance	$ 1,103,907	$ 1,116,533

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 12: Commitments and Contingencies

Guarantees and Indemnifications

We are often required to obtain standby letters of credit (LOCs) or bonds in support of our obligations for customer contracts. These standby LOCs or bonds typically provide a guarantee to the customer for future performance, which usually covers the installation phase of a contract and may, on occasion, cover the operations and maintenance phase of outsourcing contracts.

Our available lines of credit, outstanding standby LOCs, and bonds are as follows:


	At December 31,
In thousands	2019		2018
2018 credit facility
Multicurrency revolving line of credit	$	500,000	$	500,000
Long-term borrowings	—		—
Standby LOCs issued and outstanding	(41,072)		(40,983)
Net available for additional borrowings under the multi-currency revolving line of credit	$	458,928	$	459,017

Net available for additional standby LOCs under sub-facility	$	258,928	$	259,017

Unsecured multicurrency revolving lines of credit with various financial institutions
Multicurrency revolving line of credit	$	107,206	$	108,039
Standby LOCs issued and outstanding	(25,100)		(19,386)
Short-term borrowings	(173)		(2,232)
Net available for additional borrowings and LOCs	$	81,933	$	86,421

Unsecured surety bonds in force	$	136,004	$	94,365

In the event any such standby LOC or bond is called, we would be obligated to reimburse the issuer of the standby LOC or bond; however, as of February 26, 2020, we do not believe that any outstanding LOC or bond will be called.

We generally provide an indemnification related to the infringement of any patent, copyright, trademark, or other intellectual property right on software or equipment within our sales contracts, which indemnifies the customer from and pays the resulting costs, damages, and attorney's fees awarded against a customer with respect to such a claim provided that (a) the customer promptly notifies us in writing of the claim and (b) we have the sole control of the defense and all related settlement negotiations. We may also provide an indemnification to our customers for third-party claims resulting from damages caused by the negligence or willful misconduct of our employees/agents in connection with the performance of certain contracts. The terms of our indemnifications generally do not limit the maximum potential payments. It is not possible to predict the maximum potential amount of future payments under these or similar agreements.

Legal Matters

We are subject to various legal proceedings and claims of which the outcomes are subject to significant uncertainty. Our policy is to assess the likelihood of any adverse judgments or outcomes related to legal matters, as well as ranges of probable losses. A determination of the amount of the liability required, if any, for these contingencies is made after an analysis of each known issue. A liability is recognized and charged to operating expense when we determine that a loss is probable and the amount can be reasonably estimated. Additionally, we disclose contingencies for which a material loss is reasonably possible, but not probable.

Warranty

A summary of the warranty accrual account activity is as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Beginning balance	$	60,443	$	34,862	$	43,302
Assumed liabilities from acquisition	—		12,946		—
New product warranties	5,202		3,772		7,849
Other adjustments and expirations, net	15,695		22,741		(393)
Claims activity	(27,916)		(12,753)		(18,094)
Effect of change in exchange rates	(183)		(1,125)		2,198
Ending balance	53,241		60,443		34,862
Less: current portion of warranty	38,509		47,205		21,150
Long-term warranty	$	14,732	$	13,238	$	13,712

Total warranty expense is classified within cost of revenues and consists of new product warranties issued, costs related to insurance and supplier recoveries, other changes and adjustments to warranties, and customer claims. Warranty expense was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Total warranty expense (benefit)	$	17,975	$	26,513	$	(2,054)

Warranty expense decreased during the year ended December 31, 2019 compared with the same period in 2018. This decrease is primarily driven by a warranty reserve of $11.4 million for replacement of certain gas meters in our Device Solutions segment recognized in 2018.

Health Benefits

We are self-insured for a substantial portion of the cost of our U.S. employee group health insurance. We purchase insurance from a third-party, which provides individual and aggregate stop loss protection for these costs. Each reporting period, we expense the costs of our health insurance plan including paid claims, the change in the estimate of incurred but not reported (IBNR) claims, taxes, and administrative fees (collectively, the plan costs).

Plan costs were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Plan costs	$	33,611	$	41,543	$	30,521

IBNR accrual, which is included in wages and benefits payable, was as follows:


	At December 31,
In thousands	2019		2018
IBNR accrual	$	3,171	$	3,643

Our IBNR accrual and expenses may fluctuate due to the number of plan participants, claims activity, and deductible limits. For our employees located outside of the United States, health benefits are provided primarily through governmental social plans, which are funded through employee and employer tax withholdings.

Certain Balance Sheet Components - Accounts Receivable Allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Allowance	$ 3,064	$ 6,331

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Accounting, Policy

Financial Statement Preparation

Use of Estimates, Policy

Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of significant estimates include revenue recognition, warranty, restructuring, income taxes, business combinations, goodwill and intangible assets, defined benefit pension plans, contingencies, and stock-based compensation. Due to various factors affecting future costs and operations, actual results could differ materially from these estimates.

Basis of Consolidation, and Noncontrolling Interests

Basis of Consolidation

Noncontrolling Interests

Cash and Cash Equivalents

We consider all highly liquid instruments with remaining maturities of three months or less at the date of acquisition to be cash equivalents.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy

Restricted Cash and Cash Equivalents


	Year Ended December 31,
In thousands	2019		2018		2017
Cash and cash equivalents	$	149,904	$	120,221	$	176,274
Restricted cash included in other current assets	—		51		51
Long-term restricted cash	—		2,056		311,010
Total cash, cash equivalents, and restricted cash	$	149,904	$	122,328	$	487,335

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable, net

Inventories

Derivative Instruments

Property, Plant, and Equipment

Prepaid Debt Fees

Business Combinations

Goodwill and Intangible Assets

Contingencies

Compensation Related Costs, Policy

Bonus and Profit SharingWe have various employee bonus and profit sharing plans, which provide award amounts for the achievement of financial and nonfinancial targets. If management determines it is probable that the targets will be achieved, and the amounts can be reasonably estimated, a compensation accrual is recognized based on the proportional achievement of the financial and nonfinancial targets.

Warranty

Costs Associated with Exit or Disposal Activity or Restructuring

Restructuring

Defined Benefit Pension Plans

Share Repurchase Policy

Share Repurchase Plans

Revenue Recognition

Product Revenues and Service Revenues

Revenue Recognition - 2019 and 2018

•The contracts are negotiated as a package with a single commercial objective;

•The amount of consideration to be paid in one contract depends on the price or performance of the other contract; or

•The goods or services promised in the contracts (or some goods or services promised in each of the contracts) are a single performance obligation.

Revenue Recognition - 2017

arrangement exists, (2) delivery has occurred or services have been rendered, (3) the sales price is fixed or determinable, and (4) collectability is reasonably assured.

Hardware revenues are generally recognized at the time of shipment, receipt by the customer, or, if applicable, upon completion of customer acceptance provisions.

Certain of our revenue arrangements include an extended or customer-specific warranty provision that covers all or a portion of a customer's replacement or repair costs beyond the standard warranty period. Whether or not the extended warranty is separately priced in the arrangement, a portion of the arrangement's total consideration is allocated to this extended warranty deliverable. This revenue is deferred and recognized over the extended warranty coverage period. Extended or customer-specific warranties do not represent a significant portion of our revenue.

Product and Software Development Costs

Stock-based Compensation

Stock-Based Compensation

Income Tax, Policy

Income Taxes

Foreign Exchange

Fair Value Measurement

Fair Value Measurements

Lessee, Leases

Leases - 2019

New Accounting Pronouncements

Recently Adopted Accounting Standards

Recent Accounting Standards Not Yet Adopted

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share (EPS):


	Year Ended December 31,
In thousands, except per share data	2019		2018		2017
Net income (loss) available to common shareholders	$	49,006	$	(99,250)	$	57,298

Weighted average common shares outstanding - Basic	39,556		39,244		38,655
Dilutive effect of stock-based awards	424		—		732
Weighted average common shares outstanding - Diluted	39,980		39,244		39,387
Earnings (loss) per common share - Basic	$	1.24	$	(2.53)	$	1.48
Earnings (loss) per common share - Diluted	$	1.23	$	(2.53)	$	1.45

Stock-based Awards

For stock-based awards, the dilutive effect is calculated using the treasury stock method. Under this method, the dilutive effect is computed as if the awards were exercised at the beginning of the period (or at time of issuance, if later) and assumes the related proceeds were used to repurchase our common stock at the average market price during the period. Related proceeds include the amount the employee must pay upon exercise and future compensation cost associated with the stock award. Approximately 0.4 million, 1.1 million, and 0.2 million shares related to stock-based awards were excluded from the calculation of diluted EPS for the years ended December 31, 2019, 2018, and 2017, respectively, because they were anti-dilutive. These stock-based awards could be dilutive in future periods.

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Deferred tax assets

Loss carryforwards

$ 343,614

^[1]

$ 370,120

Tax credits

98,098

^[2]

94,359

Accrued expenses

46,846

43,213

Pension plan benefits expense

17,310

18,086

Warranty reserves

12,961

13,470

Depreciation and amortization

6,112

5,709

Equity compensation

4,685

5,390

Inventory valuation

1,069

1,415

Deferred revenue

8,951

9,062

Leases

13,876

Other deferred tax assets, net

9,777

11,319

Total deferred tax assets

563,299

572,143

Valuation allowance

(320,649)

^[1]

(323,822)

Total deferred tax assets, net of valuation allowance

242,650

248,321

Deferred tax liabilities

Depreciation and amortization

(161,044)

(178,358)

Leases

(12,976)

Other deferred tax liabilities, net

(6,540)

(6,676)

Total deferred tax liabilities

(180,560)

(185,034)

Net deferred tax assets

62,090

$ 63,287

Deferred tax assets, tax credit carryforwards, general business

^[2]

39,000

Deferred tax assets, tax credit carryforwards, alternative minimum tax

^[2]

800

Deferred tax assets, tax credit carryforwards, foreign

^[2]

50,500

Deferred tax assets, tax credit carryforwards, other

^[2]

34,400

U.S. federal

Deferred tax liabilities

Loss carryforwards by Jurisdiction

^[1]

187,500

LUXEMBOURG

Deferred tax liabilities

Loss carryforwards by Jurisdiction

^[1]

$ 992,700

[1]

For tax return purposes at December 31, 2019, we had U.S. federal loss carryforwards of $187.5 million, which begin to expire in the year 2020. At December 31, 2019, we have net operating loss carryforwards in Luxembourg of $992.7 million, the majority of which can be carried forward indefinitely, offset by a full valuation allowance. The remaining portion of the loss carryforwards are composed primarily of losses in various other state and foreign jurisdictions. The majority of these losses can be carried forward indefinitely. At December 31, 2019, there was a valuation allowance of $320.6 million primarily associated with foreign loss carryforwards and foreign tax credit carryforwards (discussed below).

[2]

For tax return purposes at December 31, 2019, we had: (1) U.S. general business credits of $39.0 million, which begin to expire in 2022; (2) U.S. alternative minimum tax credits of $0.8 million that can be carried forward indefinitely; (3) U.S. foreign tax credits of $50.5 million, which begin to expire in 2024; and (4) state tax credits of $34.4 million, which begin to expire in 2020.

Intangible Assets and Liabilities

12 Months Ended

Dec. 31, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets and Liabilities

The gross carrying amount and accumulated amortization (accretion) of our intangible assets and liabilities, other than goodwill, are as follows:


	December 31, 2019										December 31, 2018
In thousands	Gross Assets		Accumulated (Amortization) Accretion		Net		Gross Assets		Accumulated (Amortization) Accretion		Net
Intangible Assets
Core-developed technology	$	507,669	$	(458,109)	$	49,560	$	507,100	$	(429,955)	$	77,145
Customer contracts and relationships	381,288		(251,509)		129,779		379,614		(212,538)		167,076
Trademarks and trade names	78,837		(73,732)		5,105		78,746		(69,879)		8,867
Other	12,020		(11,367)		653		12,600		(11,205)		1,395
Total intangible assets subject to amortization	979,814		(794,717)		185,097		978,060		(723,577)		254,483
In-process research and development	—				—		3,100				3,100
Total intangible assets	$	979,814	$	(794,717)	$	185,097	$	981,160	$	(723,577)	$	257,583

Intangible Liabilities
Customer contracts and relationships	$	(23,900)	$	13,450	$	(10,450)	$	(23,900)	$	5,217	$	(18,683)

A summary of the intangible assets and liabilities account activity is as follows:


	Year Ended December 31,
In thousands	2019		2018
Beginning balance, intangible assets, gross	$	981,160	$	769,851
Intangible assets acquired	—		242,039

Effect of change in exchange rates	(1,346)		(30,730)
Ending balance, intangible assets, gross	$	979,814	$	981,160

Beginning balance, intangible liabilities, gross	$	(23,900)	$	—
Intangible liabilities acquired	—		(23,900)
Effect of change in exchange rates	—		—
Ending balance, intangible liabilities, gross	$	(23,900)	$	(23,900)

On January 5, 2018, we completed our acquisition of SSNI by purchasing 100% of the voting stock. Acquired intangible assets include in-process research and development (IPR&D), which is not amortized until such time as the associated development projects are completed. Of these projects, $3.1 million were completed during the first half of 2019 and are included in core-developed technology. Assumed intangible liabilities reflect the present value of the projected cash outflows for an existing contract where remaining costs are expected to exceed projected revenues.

Estimated future annual amortization (accretion) is as follows:


Year Ending December 31,	Amortization		Accretion		Estimated Annual Amortization, net
In thousands
2020	$	53,028	$	(8,028)	$	45,000
2021	37,705		(1,963)		35,742
2022	27,346		(459)		26,887
2023	19,785		—		19,785
2024	15,612		—		15,612
Thereafter	31,621		—		31,621
Total intangible assets subject to amortization	$	185,097	$	(10,450)	$	174,647


Amortization Expense	Year Ended December 31,
In thousands	2019		2018		2017
Amortization expense	$	64,286	$	71,713	$	20,785

We have recognized amortization expense within operating expenses in the Consolidated Statements of Operations. These expenses relate to intangible assets acquired and liabilities assumed as part of business combinations.

Certain Balance Sheet Components - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Trade receivables (net of allowance of $3,064 and $6,331)	$ 415,887	$ 416,503
Unbilled receivables	57,038	20,658
Total accounts receivable, net	$ 472,925	$ 437,161

Defined Benefit Pension Plans - Expected Future Annual Benefit Payments (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Defined Benefit Plan [Abstract]
2020	$ 3,828
2021	3,463
2022	3,861
2023	4,176
2024	5,141
2025-2029	$ 27,701

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following reflects our allocation of purchase price:


	Fair Value		Weighted Average Useful Life
	In thousands		Years
Current Assets	$	88,395
Property, plant, and equipment	27,670		6
Other long-term assets	1,873

Identifiable intangible assets
Core-developed technology	81,900		5
Customer contracts and relationships	134,000		10
Trademark and trade names	10,800		3
Total identified intangible assets subject to amortization	226,700		8
In-process research and development (IPR&D)	14,400
Total identified intangible assets	241,100

Goodwill	569,772
Current liabilities	(93,129)
Customer contracts and relationships	(23,900)		5
Long-term liabilities	(2,565)
Total net assets acquired	$	809,216

Business Acquisition, Pro Forma Information


	Year Ended December 31,
In thousands	2018		2017
Revenues	$	2,376,117	$	2,591,211
Net income (loss)	(84,602)		27,289

SIlver Spring Networks, Inc. [Member]

Business Acquisition [Line Items]

Schedule Of Revenues and Earnings Attributable to an Acquired Business

The following table presents the revenues and net loss from SSNI operations that are included in our Consolidated Statements of Operations:


In thousands			January 5, 2018 - December 31, 2018
Revenues	$	352,996
Net income (loss)	(54,409)

- Property, Plant, and Equipment By Location (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Property, Plant, and Equipment by Location
Property, plant, and equipment, net	$ 233,228	$ 226,551
UNITED STATES [Member]
Schedule of Property, Plant, and Equipment by Location
Property, plant, and equipment, net	99,615	93,034
Outside United States [Member]
Schedule of Property, Plant, and Equipment by Location
Property, plant, and equipment, net	$ 133,613	$ 133,517

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Restrictions on Cash and Cash Equivalents


	Year Ended December 31,
In thousands	2019		2018		2017
Cash and cash equivalents	$	149,904	$	120,221	$	176,274
Restricted cash included in other current assets	—		51		51
Long-term restricted cash	—		2,056		311,010
Total cash, cash equivalents, and restricted cash	$	149,904	$	122,328	$	487,335

Income Taxes - Schedule of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ 4,859	$ (7,695)	$ 7,679
State and local	2,179	(362)	3,841
Foreign	13,771	14,618	12,139
Total current	20,809	6,561	23,659
Deferred:
Federal	2,334	(17,463)	40,340
State and local	(1,846)	(4,492)	(1,144)
Foreign	(6,033)	(22,906)	3,480
Total deferred	(5,545)	(44,861)	42,676
Change in valuation allowance	5,353	25,730	7,991
Total provision (benefit) from income taxes	$ 20,617	$ (12,570)	$ 74,326

Leases - Rental Expense (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Rental Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Rental expense	$ 24,453	$ 14,824

Business Combinations - Business Combinations Purchase Price Allocation (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 05, 2018	Dec. 31, 2019	Dec. 31, 2018
Schedule of Assets and Liabilities Acquired in a Business Combination [Line Items]
Current Assets	$ 88,395
Property, plant, and equipment	$ 27,670
Weighted average useful life of property, plant and equipment acquired	6 years
Other long-term assets	$ 1,873
Identifiable intangible assets	226,700
Weighted average useful life, acquired intangible assets			8 years
Total identified intangible assets	241,100
Goodwill		$ 569,772
Current liabilities	(93,129)
Customer contracts and relationships		0	$ (23,900)
Long-term liabilities	(2,565)
SIlver Spring Networks, Inc. [Member]
Schedule of Assets and Liabilities Acquired in a Business Combination [Line Items]
Goodwill		$ 569,800
Total net assets acquired	809,216
Core Developed Technology [Member]
Schedule of Assets and Liabilities Acquired in a Business Combination [Line Items]
Identifiable intangible assets	81,900
Weighted average useful life, acquired intangible assets			5 years
Customer Contracts And Relationships [Member]
Schedule of Assets and Liabilities Acquired in a Business Combination [Line Items]
Identifiable intangible assets	134,000
Weighted average useful life, acquired intangible assets			10 years
Customer contracts and relationships	(23,900)
Weighted average useful life, acquired intangible liabilities			5 years
Trademarks and Trade Names [Member]
Schedule of Assets and Liabilities Acquired in a Business Combination [Line Items]
Identifiable intangible assets	10,800
Weighted average useful life, acquired intangible assets			3 years
In Process Research and Development [Member]
Schedule of Assets and Liabilities Acquired in a Business Combination [Line Items]
Identifiable intangible assets	$ 14,400

Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Earnings Per Share [Abstract]

Net income (loss) available to common shareholders

$ 14,620

$ 16,847

$ 19,446

$ (1,907)

$ 23,877

$ 19,882

$ 2,657

$ (145,666)

$ 49,006

$ (99,250)

$ 57,298

Weighted average common shares outstanding - Basic (in shares)

39,556

39,244

38,655

Dilutive effect of stock-based awards (in shares)

424

732

Weighted average common shares outstanding - Diluted (in shares)

39,980

39,244

39,387

Earnings (loss) per common share - Basic (in dollars per share)

$ 0.37

^[1]

$ 0.43

^[1]

$ 0.49

^[1]

$ (0.05)

^[1]

$ 0.61

^[1]

$ 0.51

^[1]

$ 0.07

^[1]

$ (3.74)

^[1]

$ 1.24

^[1]

$ (2.53)

^[1]

$ 1.48

Earnings (loss) per common share - Diluted (in dollars per share)

$ 0.36

^[1]

$ 0.42

^[1]

$ 0.49

^[1]

$ (0.05)

^[1]

$ 0.60

^[1]

$ 0.50

^[1]

$ 0.07

^[1]

$ (3.74)

^[1]

$ 1.23

^[1]

$ (2.53)

^[1]

$ 1.45

[1]	The sum of the quarterly EPS data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly EPS calculations.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (Unaudited)


In thousands, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
2019
Consolidated Statements of Operations data:
Revenues	$	614,576	$	635,037	$	624,474	$	628,383	$	2,502,470
Gross profit	187,263		191,214		196,404		177,438		752,319
Net income (loss) attributable to Itron, Inc.	(1,907)		19,446		16,847		14,620		49,006

Earnings (loss) per common share - Basic⁽¹⁾	$	(0.05)	$	0.49	$	0.43	$	0.37	$	1.24
Earnings (loss) per common share - Diluted⁽¹⁾	$	(0.05)	$	0.49	$	0.42	$	0.36	$	1.23

In thousands, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
2018
Consolidated Statements of Operations data:
Revenues	$	607,221	$	585,890	$	595,962	$	587,044	$	2,376,117
Gross profit	179,855		176,577		197,097		176,790		730,319
Net income (loss) attributable to Itron, Inc.	(145,666)		2,657		19,882		23,877		(99,250)

Earnings (loss) per common share - Basic⁽¹⁾	$	(3.74)	$	0.07	$	0.51	$	0.61	$	(2.53)
Earnings (loss) per common share - Diluted⁽¹⁾	$	(3.74)	$	0.07	$	0.50	$	0.60	$	(2.53)

Stock-Based Compensation - Stock Option Summary (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	895	956	959
Converted upon acquisition (in shares)		42
Granted (in shares)	76	122	135
Exercised (in shares)	(489)	(152)	(41)
Forfeited (in shares)	(13)	(7)	(35)
Expired (in shares)	(11)	(66)	(62)
Outstanding, ending balance (in shares)	458	895	956	959
Exercisable, ending balance (in shares)	272
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share)	$ 47.93	$ 47.10	$ 45.64
Converted upon acquisition (in dollars per share)		51.86
Granted (in dollars per share)	76.55	68.21	65.94
Exercised (in dollars per share)	43.55	38.99	39.92
Forfeited (in dollars per share)	67.34	60.03	47.38
Expired (in dollars per share)	66.24	95.31	70.12
Outstanding, ending balance (in dollars per share)	56.38	$ 47.93	$ 47.10	$ 45.64
Exercisable, ending balance (in dollars per share)	$ 46.37
Outstanding, Weighted Average Remaining Contractual Term	7 years	6 years 2 months 12 days	6 years 3 months 18 days	6 years 7 months 6 days
Exercisable, Weighted Average Remaining Contractual Term	5 years 9 months 18 days
Outstanding, Aggregate Intrinsic Value	$ 12,641,000	$ 4,806,000	$ 21,965,000	$ 19,125,000
Exercised, Aggregate Intrinsic Value	15,759,000	$ 4,520,000	$ 1,071,000
Exercisable, Aggregate Intrinsic Value	$ 10,223,000
Converted upon acquisition, Weighted Average Grant Date Fair Value (in dollars per share)		$ 14.86
Granted, Weighted Average Grant Date Fair Value (in dollars per share)	$ 26.20	$ 24.29	$ 21.99

Segment Information - Revenues By Region (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers [Line Items]
Total revenues	$ 628,383,000	$ 624,474,000	$ 635,037,000	$ 614,576,000	$ 587,044,000	$ 595,962,000	$ 585,890,000	$ 607,221,000	$ 2,502,470,000	$ 2,376,117,000	$ 2,018,197,000
United States and Canada [Member]
Revenues from External Customers [Line Items]
Total revenues									1,629,742,000	1,442,792,000	1,137,508,000
EMEA [Member]
Revenues from External Customers [Line Items]
Total revenues									663,851,000	733,732,000	672,942,000
Other Countries [Member]
Revenues from External Customers [Line Items]
Total revenues									$ 208,877,000	$ 199,593,000	$ 207,747,000

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings (Accumulated Deficit) [Member]	Total Itron Inc. Shareholders' Equity [Member]	Noncontrolling Interests [Member]	SIlver Spring Networks, Inc. [Member] Common Stock Including Additional Paid in Capital [Member]
Cumulative effect of new accounting principle \| Accounting Standards Update 2016-09 [Member]	$ 14,580		$ 215		$ 14,365	$ 14,580
Balance (in shares) at Dec. 31, 2016		38,317,000
Balance (value) at Dec. 31, 2016	650,353		1,270,467	$ (229,327)	(409,536)	631,604	$ 18,749
Net income (loss)	60,249				57,298	57,298	2,951
Other comprehensive income (loss), net of tax	58,849			58,849		58,849	0
Distributions to noncontrolling interests	(2,171)						(2,171)
Options exercised (in shares)		41,000
Options exercised (value)	1,631		1,631			1,631
Restricted stock awards released (in shares)		372,000
Restricted stock awards released (value)	0		0			0
Issuance of stock-based compensation awards (in shares)		10,000
Issuance of stock-based compensation awards (value)	974		974			974
Employee stock purchase plan (in shares)		31,000
Employee stock purchase plan (value)	1,978		1,978			1,978
Stock-based compensation expense	20,433		20,433			20,433
Registration fee			(906)			(906)	(313)
Registration fee	(25)		(25)			(25)
Excess tax benefits from employee stock plans	(1,219)
Balance (in shares) at Dec. 31, 2017		38,771,000
Balance (value) at Dec. 31, 2017	805,632		1,294,767	(170,478)	(337,873)	786,416	19,216
Net income (loss)	(96,581)				(99,250)	(99,250)	2,669
Other comprehensive income (loss), net of tax	(25,827)			(25,827)		(25,827)	0
Distributions to noncontrolling interests	(500)						(500)
Options exercised (in shares)		152,000
Options exercised (value)	5,935		5,935			5,935
Restricted stock awards released (in shares)		517,000
Restricted stock awards released (value)	0		0			0
Issuance of stock-based compensation awards (in shares)		10,000
Issuance of stock-based compensation awards (value)	729		729			729
Employee stock purchase plan (in shares)		48,000
Employee stock purchase plan (value)	2,974		2,974			2,974
Stock-based compensation expense	30,534		30,534			30,534
Registration fee	$ (22)		(22)			(22)
Stock repurchased								$ 553
Balance (in shares) at Dec. 31, 2018	39,498,000	39,498,000
Balance (value) at Dec. 31, 2018	$ 734,048		1,334,364	(196,305)	(425,396)	712,663	21,385
Cumulative effect of new accounting principle \| Accounting Standards Update 2016-09 [Member]	11,727		0		11,727	11,727
Net income (loss)	52,415				49,006	49,006	3,409
Other comprehensive income (loss), net of tax	(8,367)			(8,367)		(8,367)	0
Distributions to noncontrolling interests	(517)						(517)
Options exercised (in shares)		489,000
Options exercised (value)	21,289		21,289			21,289
Restricted stock awards released (in shares)		415,000
Restricted stock awards released (value)	(3,113)		(3,113)			(3,113)
Issuance of stock-based compensation awards (in shares)		9,000
Issuance of stock-based compensation awards (value)	630		630			630
Employee stock purchase plan (in shares)		59,000
Employee stock purchase plan (value)	3,100		3,100			3,100
Stock-based compensation expense	$ 26,330		26,330			26,330
Registration fee							0
Balance (in shares) at Dec. 31, 2019	39,941,000	39,941,000
Balance (value) at Dec. 31, 2019	$ 800,815		1,357,600	$ (204,672)	$ (376,390)	776,538	$ 24,277
Stock Repurchased During Period, Shares	529,396
Stock Repurchased During Period, Value	$ 25,000		$ 25,000			$ 25,000

Business Combinations - Business Combinations Pro Forma Information (Details) - SIlver Spring Networks, Inc. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Revenues	$ 2,376,117	$ 2,591,211
Net Income (loss)	$ (84,602)	$ 27,289

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Line of Credit Facilities

Our available lines of credit, outstanding standby LOCs, and bonds are as follows:


	At December 31,
In thousands	2019		2018
2018 credit facility
Multicurrency revolving line of credit	$	500,000	$	500,000
Long-term borrowings	—		—
Standby LOCs issued and outstanding	(41,072)		(40,983)
Net available for additional borrowings under the multi-currency revolving line of credit	$	458,928	$	459,017

Net available for additional standby LOCs under sub-facility	$	258,928	$	259,017

Unsecured multicurrency revolving lines of credit with various financial institutions
Multicurrency revolving line of credit	$	107,206	$	108,039
Standby LOCs issued and outstanding	(25,100)		(19,386)
Short-term borrowings	(173)		(2,232)
Net available for additional borrowings and LOCs	$	81,933	$	86,421

Unsecured surety bonds in force	$	136,004	$	94,365

Schedule of Warranty Accruals

A summary of the warranty accrual account activity is as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Beginning balance	$	60,443	$	34,862	$	43,302
Assumed liabilities from acquisition	—		12,946		—
New product warranties	5,202		3,772		7,849
Other adjustments and expirations, net	15,695		22,741		(393)
Claims activity	(27,916)		(12,753)		(18,094)
Effect of change in exchange rates	(183)		(1,125)		2,198
Ending balance	53,241		60,443		34,862
Less: current portion of warranty	38,509		47,205		21,150
Long-term warranty	$	14,732	$	13,238	$	13,712

Warranty Expense

Warranty expense was as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Total warranty expense (benefit)	$	17,975	$	26,513	$	(2,054)

Health Benefit Plan Costs and Incurred But Not Reported Accrual Balance

Plan costs were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Plan costs	$	33,611	$	41,543	$	30,521

IBNR accrual, which is included in wages and benefits payable, was as follows:


	At December 31,
In thousands	2019		2018
IBNR accrual	$	3,171	$	3,643

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 112,558	$ 56,702	$ 57,626
Gross increase to positions in prior years	1,067	22,943	3,367
Gross decrease to positions in prior years	(3,296)	(24,949)	(5,559)
Gross increases to current period tax positions	13,762	63,869	6,453
Audit settlements	0	(2,977)	(5,169)
Decrease related to lapsing of statute of limitations	(1,574)	(1,368)	(3,445)
Effect of change in exchange rates	(802)	(1,662)	3,429
Unrecognized tax benefits, end of period	121,715	112,558	56,702
The amount of unrecognized tax benefits that, if recognized, would affect our effective tax rate	120,410	111,224	55,312
Net interest and penalties expense (benefit)	708	(990)	$ (543)
Accrued interest	2,849	2,127
Accrued penalties	$ 1,681	$ 1,758

Schedule of Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Finite-Lived Intangible Assets

The gross carrying amount and accumulated amortization (accretion) of our intangible assets and liabilities, other than goodwill, are as follows:


	December 31, 2019										December 31, 2018
In thousands	Gross Assets		Accumulated (Amortization) Accretion		Net		Gross Assets		Accumulated (Amortization) Accretion		Net
Intangible Assets
Core-developed technology	$	507,669	$	(458,109)	$	49,560	$	507,100	$	(429,955)	$	77,145
Customer contracts and relationships	381,288		(251,509)		129,779		379,614		(212,538)		167,076
Trademarks and trade names	78,837		(73,732)		5,105		78,746		(69,879)		8,867
Other	12,020		(11,367)		653		12,600		(11,205)		1,395
Total intangible assets subject to amortization	979,814		(794,717)		185,097		978,060		(723,577)		254,483
In-process research and development	—				—		3,100				3,100
Total intangible assets	$	979,814	$	(794,717)	$	185,097	$	981,160	$	(723,577)	$	257,583

Intangible Liabilities
Customer contracts and relationships	$	(23,900)	$	13,450	$	(10,450)	$	(23,900)	$	5,217	$	(18,683)

Summary Of Intangible Asset Account Activity

A summary of the intangible assets and liabilities account activity is as follows:


	Year Ended December 31,
In thousands	2019		2018
Beginning balance, intangible assets, gross	$	981,160	$	769,851
Intangible assets acquired	—		242,039

Effect of change in exchange rates	(1,346)		(30,730)
Ending balance, intangible assets, gross	$	979,814	$	981,160

Beginning balance, intangible liabilities, gross	$	(23,900)	$	—
Intangible liabilities acquired	—		(23,900)
Effect of change in exchange rates	—		—
Ending balance, intangible liabilities, gross	$	(23,900)	$	(23,900)

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future annual amortization (accretion) is as follows:


Year Ending December 31,	Amortization		Accretion		Estimated Annual Amortization, net
In thousands
2020	$	53,028	$	(8,028)	$	45,000
2021	37,705		(1,963)		35,742
2022	27,346		(459)		26,887
2023	19,785		—		19,785
2024	15,612		—		15,612
Thereafter	31,621		—		31,621
Total intangible assets subject to amortization	$	185,097	$	(10,450)	$	174,647

Finite-lived Intangible Assets Amortization Expense


Amortization Expense	Year Ended December 31,
In thousands	2019		2018		2017
Amortization expense	$	64,286	$	71,713	$	20,785

Defined Contribution, Bonus, and Profit Sharing Plans - Narrative (Details)	12 Months Ended
	Dec. 31, 2019
Defined Contribution, Bonus, and Profit Sharing [Abstract]
Employer matching contribution, percentage of match	75.00%
Employer matching contribution, percentage of employees' gross pay	6.00%

Defined Benefit Pension Plans - Schedule of Amounts Recognized in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Plan assets in other long-term assets	$ 44	$ 572
Current portion of pension benefit obligation in wages and benefits payable	2,885	2,730
Long-term portion of pension benefit obligation	98,712	91,522
Pension benefit obligation, net	$ 101,553	$ 93,680

Shareholders' Equity - Stock Repurchase Authorization (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Mar. 14, 2019
Equity [Abstract]
Stock Repurchase Program, Authorized Amount	$ 25,000	$ 50,000
Stock Repurchased During Period, Shares	529,396
Treasury Stock Acquired, Average Cost Per Share	$ 47.22
Stock Repurchased During Period, Value	$ 25,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 25,000

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in the components of AOCI, net of tax, were as follows:


In thousands	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) on Derivative Instruments		Net Unrealized Gain (Loss) on Nonderivative Instruments		Pension Benefit Obligation Adjustments		Accumulated Other Comprehensive Income (Loss)
Balances at January 1, 2017	$	(182,986)	$	43	$	(14,380)	$	(32,004)	$	(229,327)
OCI before reclassifications	53,854		360		—		2,354		56,568
Amounts reclassified from AOCI	484		563		—		1,234		2,281
Total other comprehensive income (loss)	54,338		923		—		3,588		58,849
Balances at December 31, 2017	$	(128,648)	$	966	$	(14,380)	$	(28,416)	$	(170,478)
OCI before reclassifications	(28,841)		2,586		—		1,653		(24,602)
Amounts reclassified from AOCI	—		(2,351)		—		1,126		(1,225)
Total other comprehensive income (loss)	(28,841)		235		—		2,779		(25,827)
Balances at December 31, 2018	$	(157,489)	$	1,201	$	(14,380)	$	(25,637)	$	(196,305)
OCI before reclassifications	(2,953)		4,061		—		1,909		3,017
Amounts reclassified from AOCI	2,443		(5,985)		—		(7,842)		(11,384)
Total other comprehensive income (loss)	(510)		(1,924)		—		(5,933)		(8,367)
Balances at December 31, 2019	$	(157,999)	$	(723)	$	(14,380)	$	(31,570)	$	(204,672)

Income Tax (Provision) Benefit Related To OCI

The before-tax, income tax (provision) benefit, and net-of-tax amounts related to each component of OCI during the reporting periods were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Before-tax amount
Foreign currency translation adjustment	$	(2,581)	$	(29,130)	$	54,218
Foreign currency translation adjustment reclassified to net income on disposal	2,443		—		484
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	4,063		2,908		585

Net hedging (gain) loss reclassified to net income	(6,605)		(2,507)		916
Net unrealized gain (loss) on defined benefit plans	1,966		2,343		3,401
Net defined benefit plan loss reclassified to net income	(8,076)		1,596		1,782
Total other comprehensive income (loss), before tax	(8,790)		(24,790)		61,386

Tax (provision) benefit
Foreign currency translation adjustment	(372)		289		(364)

Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	(2)		(322)		(225)

Net hedging (gain) loss reclassified to net income	620		156		(353)
Net unrealized gain (loss) on defined benefit plans	(57)		(690)		(1,047)
Net defined benefit plan loss reclassified to net income	234		(470)		(548)
Total other comprehensive income (loss) tax (provision) benefit	423		(1,037)		(2,537)

Net-of-tax amount
Foreign currency translation adjustment	(2,953)		(28,841)		53,854
Foreign currency translation adjustment reclassified to net income on disposal	2,443		—		484
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges	4,061		2,586		360

Net hedging (gain) loss reclassified to net income	(5,985)		(2,351)		563
Net unrealized gain (loss) on defined benefit plans	1,909		1,653		2,354
Net defined benefit plan loss reclassified to net income	(7,842)		1,126		1,234
Total other comprehensive income (loss), net of tax	$	(8,367)	$	(25,827)	$	58,849

Derivative Financial Instruments - Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets Presented in the Consolidated Balance Sheets	$ 4,297	$ 6,525
Derivative Financial Instruments	(56)	(103)
Cash Collateral Received	0	0
Net Amount	$ 4,241	$ 6,422

Stock-Based Compensation - Stock-Based Compensation Expense and Related Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock options	$ 1,770	$ 3,675	$ 2,695
Restricted stock units	24,560	26,859	17,738
Unrestricted stock awards	630	729	974
Phantom stock units	3,301	2,165	1,747
Total stock-based compensation	30,261	33,428	23,154
Related tax benefit	$ 5,390	$ 6,019	$ 5,034

Certain Balance Sheet Components - Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Depreciation expense	$ 50,114	$ 50,784	$ 42,430

Stock-Based Compensation - Stock Option Black Scholes Option Pricing Model Assumptions (Details) - Share-based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Expected volatility	31.70%	30.50%	32.50%
Risk-free interest rate	1.70%	2.80%	2.00%
Expected term (years)	6 years 1 month 6 days	6 years 1 month 6 days	5 years 6 months

Defined Benefit Pension Plans (Tables)

12 Months Ended

Dec. 31, 2019

Defined Benefit Plan [Abstract]

Schedule of Changes in Benefit Obligation and Fair Value of Plan Assets

The following tables set forth the components of the changes in benefit obligations and fair value of plan assets:


	Year Ended December 31,
In thousands	2019		2018
Change in benefit obligation:
Benefit obligation at January 1,	$	105,570	$	110,820
Service cost	3,711		4,034
Interest cost	2,278		2,324
Actuarial (gain) loss	8,798		(2,497)
Benefits paid	(2,970)		(3,018)
Foreign currency exchange rate changes	(1,984)		(5,110)
Curtailment	(36)		(694)
Settlement	(234)		(413)
Other	(915)		124
Benefit obligation at December 31,	$	114,218	$	105,570

Change in plan assets:
Fair value of plan assets at January 1,	$	11,890	$	12,834
Actual return on plan assets	1,134		(54)
Company contributions	289		465
Benefits paid	(411)		(392)
Foreign currency exchange rate changes	(237)		(963)

Fair value of plan assets at December 31,	12,665		11,890
Net pension benefit obligation at fair value	$	101,553	$	93,680

Schedule of Amounts Recognized in the Consolidated Balance Sheets

Amounts recognized on the Consolidated Balance Sheets consist of:


	December 31,
In thousands	2019		2018
Assets
Plan assets in other long-term assets	$	44	$	572

Liabilities
Current portion of pension benefit obligation in wages and benefits payable	2,885		2,730
Long-term portion of pension benefit obligation	98,712		91,522

Pension benefit obligation, net	$	101,553	$	93,680

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Amounts recognized in OCI (pre-tax) are as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Net actuarial (gain) loss	$	8,762	$	(3,191)	$	(3,209)
Settlement (gain) loss	(250)		(1)		2
Curtailment (gain) loss	—		(1)		586
Plan asset (gain) loss	(526)		724		(192)
Amortization of net actuarial loss	(1,648)		(1,533)		(2,308)
Amortization of prior service cost	(68)		(61)		(62)
Other	(160)		124		—
Other comprehensive (income) loss	$	6,110	$	(3,939)	$	(5,183)

Schedule of Net Periodic Pension Benefit Costs

Net periodic pension benefit cost for our plans include the following components:


	Year Ended December 31,
In thousands	2019		2018		2017
Service cost	$	3,711	$	4,034	$	3,968
Interest cost	2,278		2,324		2,264
Expected return on plan assets	(608)		(670)		(594)
Amortization of prior service costs	68		61		62
Amortization of actuarial net loss	1,648		1,533		2,308
Settlement	250		1		(2)
Curtailment	—		1		(586)

Net periodic benefit cost	$	7,347	$	7,284	$	7,420

Schedule of Assumptions Used

The significant actuarial weighted average assumptions used in determining the benefit obligations and net periodic benefit cost for our benefit plans are as follows:


	Year Ended December 31,
	2019		2018		2017
Actuarial assumptions used to determine benefit obligations at end of period:
Discount rate	1.76	%	2.24	%	2.21	%
Expected annual rate of compensation increase	3.76	%	3.60	%	3.64	%
Actuarial assumptions used to determine net periodic benefit cost for the period:
Discount rate	2.24	%	2.21	%	2.18	%
Expected rate of return on plan assets	5.19	%	5.58	%	5.58	%
Expected annual rate of compensation increase	3.60	%	3.64	%	3.65	%

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The total obligations and fair value of plan assets for plans with projected benefit obligations and accumulated benefit obligations exceeding the fair value of plan assets are as follows:


In thousands	December 31,
			2019			2018
Projected benefit obligation	$	110,656		$	103,059
Accumulated benefit obligation	101,611			94,831
Fair value of plan assets	9,059			8,807

Fair values of the assets held by the postretirement benefits plans by asset category

The fair values of our plan investments by asset category are as follows:


	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Unobservable Inputs (Level 3)


In thousands	December 31, 2019
Cash	$	926	$	926	$	—
Insurance funds	8,133		—		8,133
Other securities	3,606		—		3,606
Total fair value of plan assets	$	12,665	$	926	$	11,739


In thousands	December 31, 2018
Cash	$	787	$	787	$	—
Insurance funds	8,020		—		8,020
Other securities	3,083		—		3,083
Total fair value of plan assets	$	11,890	$	787	$	11,103

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2019 and 2018.


In thousands	Balance at January 1, 2019		Net Realized and Unrealized Gains		Net Purchases, Issuances, Settlements, and Other		Effect of Foreign Currency		Balance at December 31, 2019
Insurance funds	$	8,020	$	282	$	(27)	$	(142)	$	8,133
Other securities	3,083		814		(160)		(131)		3,606
Total	$	11,103	$	1,096	$	(187)	$	(273)	$	11,739


In thousands	Balance at January 1, 2018		Net Realized and Unrealized Gains		Net Purchases, Issuances, Settlements, and Other		Effect of Foreign Currency		Balance at December 31, 2018
Insurance funds	$	8,384	$	(158)	$	141	$	(347)	$	8,020
Other securities	3,661		123		(141)		(560)		3,083
Total	$	12,045	$	(35)	$	—	$	(907)	$	11,103

Schedule of Expected Benefit Payments


Year Ending December 31,	Estimated Annual Benefit Payments

In thousands
2020	$	3,828
2021	3,463
2022	3,861
2023	4,176
2024	5,141
2025-2029	27,701

Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 149,904	$ 120,221	$ 176,274
Restricted cash included in other current assets	0	51	51
Restricted cash	0	2,056	311,010
Total cash, cash equivalents, and restricted cash	$ 149,904	$ 122,328	$ 487,335	$ 133,565

Certain Balance Sheet Components - Summary of the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 6,331	$ 3,957	$ 3,320
Provision for (release of) doubtful accounts, net	(1,511)	3,874	1,656
Accounts written-off	(1,749)	(1,281)	(1,351)
Effect of change in exchange rates	(7)	(219)	332
Ending balance	$ 3,064	$ 6,331	$ 3,957

Income Taxes - Income Tax Examination by Jurisdiction (Details)	12 Months Ended
	Dec. 31, 2019
U.S. federal
Income Tax Examination [Line Items]
Earliest year subject to examination by major tax jurisdiction	2001
FRANCE
Income Tax Examination [Line Items]
Earliest year subject to examination by major tax jurisdiction	2012
GERMANY
Income Tax Examination [Line Items]
Earliest year subject to examination by major tax jurisdiction	2013
BRAZIL
Income Tax Examination [Line Items]
Earliest year subject to examination by major tax jurisdiction	2013
UNITED KINGDOM
Income Tax Examination [Line Items]
Earliest year subject to examination by major tax jurisdiction	2015
ITALY
Income Tax Examination [Line Items]
Earliest year subject to examination by major tax jurisdiction	2014

Certain Balance Sheet Components

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Certain Balance Sheet Components

A summary of accounts receivable from contracts with customers is as follows:


Accounts receivable, net
In thousands	December 31, 2019		December 31, 2018
Trade receivables (net of allowance of $3,064 and $6,331)	$	415,887	$	416,503
Unbilled receivables	57,038		20,658
Total accounts receivable, net	$	472,925	$	437,161


Allowance for doubtful account activity	Year Ended December 31,
In thousands	2019		2018		2017
Beginning balance	$	6,331	$	3,957	$	3,320
Provision for (release of) doubtful accounts, net	(1,511)		3,874		1,656
Accounts written-off	(1,749)		(1,281)		(1,351)
Effect of change in exchange rates	(7)		(219)		332
Ending balance	$	3,064	$	6,331	$	3,957


Inventories
In thousands	December 31, 2019		December 31, 2018
Raw materials	$	120,861	$	133,398
Work in process	11,105		9,744
Finished goods	95,930		77,532
Total inventories	$	227,896	$	220,674


Property, plant, and equipment, net
In thousands	December 31, 2019		December 31, 2018
Machinery and equipment	$	323,003	$	315,974
Computers and software	109,924		104,290
Buildings, furniture, and improvements	149,471		146,071
Land	14,988		14,980
Construction in progress, including purchased equipment	54,490		49,682
Total cost	651,876		630,997
Accumulated depreciation	(418,648)		(404,446)
Property, plant, and equipment, net	$	233,228	$	226,551


Depreciation expense	Year Ended December 31,
In thousands	2019		2018		2017
Depreciation expense	$	50,114	$	50,784	$	42,430

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation Expense and Related Tax Benefit

Total stock-based compensation expense and the related tax benefit were as follows:


	Year Ended December 31,
In thousands	2019		2018		2017
Stock options	$	1,770	$	3,675	$	2,695
Restricted stock units	24,560		26,859		17,738
Unrestricted stock awards	630		729		974
Phantom stock units	3,301		2,165		1,747
Total stock-based compensation	$	30,261	$	33,428	$	23,154

Related tax benefit	$	5,390	$	6,019	$	5,034

Employee Stock Options Activity

A summary of our stock option activity is as follows:


	Shares	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value		Weighted Average Grant Date Fair Value
	In thousands			Years	In thousands
Outstanding, January 1, 2017	959	$	45.64	6.6	$	19,125
Granted	135	65.94					$	21.99
Exercised	(41)	39.92			$	1,071
Forfeited	(35)	47.38
Expired	(62)	70.12
Outstanding, December 31, 2017	956	$	47.10	6.3	$	21,965

Converted upon acquisition	42	$	51.86				$	14.86
Granted	122	68.21					$	24.29
Exercised	(152)	38.99			$	4,520
Forfeited	(7)	60.03
Expired	(66)	95.31
Outstanding, December 31, 2018	895	$	47.93	6.2	$	4,806

Granted	76	$	76.55				$	26.20
Exercised	(489)	43.55			$	15,759
Forfeited	(13)	67.34
Expired	(11)	66.24
Outstanding, December 31, 2019	458	$	56.38	7.0	$	12,641

Exercisable, December 31, 2019	272	$	46.37	5.8	$	10,223

Stock Options, Valuation Assumptions

The weighted-average assumptions used to estimate the fair value of stock options granted and the resulting weighted average fair value are as follows:


	Year Ended December 31,
	2019		2018		2017
Expected volatility	31.7	%	30.5	%	32.5	%
Risk-free interest rate	1.7	%	2.8	%	2.0	%
Expected term (years)	6.1		6.1		5.5

Restricted Stock Units Award Activity

The following table summarizes restricted stock unit activity:


	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
	In thousands			In thousands
Outstanding, January 1, 2017	701
Granted	273	$	50.95
Released	(372)			$	14,219
Forfeited	(46)
Outstanding, December 31, 2017	556	$	47.68

Converted upon acquisition	579	$	69.40
Granted	387	$	57.48
Released	(593)			$	32,567
Forfeited	(112)
Outstanding, December 31, 2018	817	$	59.70

Granted	404	$	62.97
Released	(471)	$	62.28	$	29,304
Forfeited	(66)	$	66.12
Outstanding, December 31, 2019	684	$	64.38

Vested but not released, December 31, 2019	72			$	6,037

Restricted Stock Units, Valuation Assumptions


	Year Ended December 31,
	2019			2018			2017
Expected volatility	31.4		%	28.0		%	28.0		%
Risk-free interest rate	2.5		%	2.2		%	1.0		%
Expected term (years)	1.6			2.1			1.7

Weighted average grant date fair value	$	61.25		$	78.56		$	77.75

Schedule of Other Share-based Compensation, Activity

The following table summarizes phantom stock unit activity:


	Number of Phantom Stock Units	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
	In thousands			In thousands
Outstanding, January 1, 2017	62
Granted	32	$	65.55
Released	(20)			$	1,310
Forfeited	(11)
Outstanding, December 31, 2017	63



Outstanding, January 1, 2018	63
Converted upon acquisition	21
Granted	41	$	66.67
Released	(35)			$	2,409
Forfeited	(7)
Outstanding, December 31, 2018	83



Outstanding, January 1, 2019	83	$	61.80
Granted	55	$	60.49
Released	(42)	$	57.13	$	2,625
Forfeited	(7)	$	66.09
Outstanding, December 31, 2019	89	$	62.85

Intangible Assets and Liabilities - Estimated Future Annual Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2020 Amortization	$ 53,028
2020 Accretion	(8,028)
2020 Amortization, net	45,000
2021 Amortization	37,705
2021 Accretion	(1,963)
2021 Amortization, net	35,742
2022 Amortization	27,346
2022 Accretion	(459)
2022 Amortization, net	26,887
2023 Amortization	19,785
2023 Accretion	0
2023 Amortization, net	19,785
2024 Amortization	15,612
2024 Accretion	0
2024 Amortization, net	15,612
Beyond 2024 Amortization	31,621
Beyond 2024 Accretion	0
Beyond 2024 Amortization, net	31,621
Total intangible assets subject to amortization	185,097	$ 257,583
Finite-lived intangible liabilities, net	(10,450)	$ (18,683)
Finite-lived intangible assets (liabilities), net	$ 174,647

Certain Balance Sheet Components - Property, Plant, and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Machinery and equipment	$ 323,003	$ 315,974
Computers and software	109,924	104,290
Buildings, furniture, and improvements	149,471	146,071
Land	14,988	14,980
Construction in progress, including purchased equipment	54,490	49,682
Total cost	651,876	630,997
Accumulated depreciation	(418,648)	(404,446)
Property, plant, and equipment, net	$ 233,228	$ 226,551

Shareholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	$ (196,305)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(8,367)	$ (25,827)	$ 58,849
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	(204,672)	(196,305)
Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	(196,305)	(170,478)	(229,327)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	3,017	(24,602)	56,568
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(11,384)	(1,225)	2,281
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(8,367)	(25,827)	58,849
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	(204,672)	(196,305)	(170,478)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	(157,489)	(128,648)	(182,986)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(2,953)	(28,841)	53,854
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	2,443	0	484
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(510)	(28,841)	54,338
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	(157,999)	(157,489)	(128,648)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	1,201	966	43
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	4,061	2,586	360
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(5,985)	(2,351)	563
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,924)	235	923
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	(723)	1,201	966
Accumulated Other Comprehensive Income, Net Unrealized Gain (Loss) on Nonderivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	(14,380)	(14,380)	(14,380)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	0	0
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	(14,380)	(14,380)	(14,380)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period	(25,637)	(28,416)	(32,004)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,909	1,653	2,354
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(7,842)	1,126	1,234
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(5,933)	2,779	3,588
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	$ (31,570)	$ (25,637)	$ (28,416)

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share (EPS):


	Year Ended December 31,
In thousands, except per share data	2019		2018		2017
Net income (loss) available to common shareholders	$	49,006	$	(99,250)	$	57,298

Weighted average common shares outstanding - Basic	39,556		39,244		38,655
Dilutive effect of stock-based awards	424		—		732
Weighted average common shares outstanding - Diluted	39,980		39,244		39,387
Earnings (loss) per common share - Basic	$	1.24	$	(2.53)	$	1.48
Earnings (loss) per common share - Diluted	$	1.23	$	(2.53)	$	1.45

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Percent	28.00%	12.00%	55.00%
Undistributed Earnings of Foreign Subsidiaries and Foreign Corporate Joint Ventures [Member]
Undistributed earnings of foreign subsidiaries	$ 13.7	$ 5.1
Tax Cuts and Jobs Act [Member]
Tax adjustments, settlements, and unusual provisions	$ 30.4

Goodwill

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table reflects changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018:


In thousands	Device Solutions		Networked Solutions		Outcomes		Total Company

Goodwill balance at January 1, 2018	$	56,195	$	455,382	$	44,185	$	555,762

Goodwill acquired	—		475,570		100,180		575,750
Effect of change in exchange rates	(936)		(12,457)		(1,586)		(14,979)

Goodwill balance at December 31, 2018	55,259		918,495		142,779		1,116,533

Goodwill acquired	—		(4,938)		(1,040)		(5,978)
Effect of change in exchange rates	(329)		(5,469)		(850)		(6,648)

Goodwill balance at December 31, 2019	$	54,930	$	908,088	$	140,889	$	1,103,907

The accumulated goodwill impairment losses at December 31, 2019 and 2018 were $676.5 million. The goodwill impairment losses were originally recognized in 2011 and 2013.

Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Values Of Financial Instruments by Balance Sheet Grouping

The fair values at December 31, 2019 and 2018 do not reflect subsequent changes in the economy, interest rates, tax rates, and other variables that may affect the determination of fair value.


	December 31, 2019						December 31, 2018
In thousands	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets
Cash and cash equivalents	$	149,904	$	149,904	$	120,221	$	120,221
Restricted cash	—		—		2,107		2,107
Foreign exchange forwards	96		96		157		157
Interest rate swaps	174		174		2,612		2,612
Interest rate caps	1		1		786		786
Cross currency swaps	4,026		4,026		2,970		2,970
Liabilities
Credit facility
USD denominated term loan	$	546,495	$	550,135	$	632,954	$	630,971
Multicurrency revolving line of credit	—		—		—		—
Senior notes	385,987		416,500		383,669		368,000
Foreign exchange forwards	162		162		337		337

Defined Benefit Pension Plans - Level 3 Plan Asset Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1,	$ 11,890	$ 12,834
Effect of Foreign Currency	(237)	(963)
Fair value of plan assets at December 31,	12,665	11,890
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1,	11,103	12,045
Net Realized and Unrealized Gains	1,096	(35)
Net Purchases, Issuances, Settlements, and Other	(187)	0
Effect of Foreign Currency	(273)	(907)
Fair value of plan assets at December 31,	11,739	11,103
Insurance Fund [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1,	8,020
Fair value of plan assets at December 31,	8,133	8,020
Insurance Fund [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1,	8,020	8,384
Net Realized and Unrealized Gains	282	(158)
Net Purchases, Issuances, Settlements, and Other	(27)	141
Effect of Foreign Currency	(142)	(347)
Fair value of plan assets at December 31,	8,133	8,020
Securities (Assets) [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1,	3,083
Fair value of plan assets at December 31,	3,606	3,083
Securities (Assets) [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1,	3,083	3,661
Net Realized and Unrealized Gains	814	123
Net Purchases, Issuances, Settlements, and Other	(160)	(141)
Effect of Foreign Currency	(131)	(560)
Fair value of plan assets at December 31,	$ 3,606	$ 3,083

Debt - Schedule of Long-Term Debt Maturities (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2020	$ 0
2021	32,422
2022	44,063
2023	44,063
2024	429,608
Thereafter	400,000
Total minimum payments on debt	$ 950,156

Defined Benefit Pension Plans - Schedule of Significant Actuarial Weighted Average Assumptions Used in Determining the Benefit Obligation and Net Periodic Benefit Cost (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Discount rate	1.76%	2.24%	2.21%
Expected annual rate of compensation increase	3.76%	3.60%	3.64%
Discount rate	2.24%	2.21%	2.18%
Expected rate of return on plan assets	5.19%	5.58%	5.58%
Expected annual rate of compensation increase	3.60%	3.64%	3.65%

Restructuring - Expected Cost, Costs Recognized, and Costs to be Recognized - 2016 Projects (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Costs charged to expense	$ 6,278	$ 77,183	$ 6,418
2018 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	100,885
Costs charged to expense	9,272	78,123
Expected Remaining Costs to be Recognized at December 31, 2019	13,490
2016 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	50,978
Costs charged to expense	(2,994)	53,272
Expected Remaining Costs to be Recognized at December 31, 2019	700
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Costs charged to expense	(608)
Employee Severance [Member] \| 2018 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	72,133
Costs charged to expense	(1,645)	73,778
Expected Remaining Costs to be Recognized at December 31, 2019	0
Employee Severance [Member] \| 2016 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	36,882
Costs charged to expense	1,037	35,845
Expected Remaining Costs to be Recognized at December 31, 2019	0
Asset Impairment and Net (Gain) Loss on Sale or Disposal [Member]
Restructuring Cost and Reserve [Line Items]
Costs charged to expense	(1,785)
Asset Impairment and Net (Gain) Loss on Sale or Disposal [Member] \| 2018 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	3,842
Costs charged to expense	3,725	117
Expected Remaining Costs to be Recognized at December 31, 2019	0
Asset Impairment and Net (Gain) Loss on Sale or Disposal [Member] \| 2016 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	154
Costs charged to expense	(5,510)	5,664
Expected Remaining Costs to be Recognized at December 31, 2019	0
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Costs charged to expense	8,671
Other Restructuring [Member] \| 2018 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	24,910
Costs charged to expense	7,192	4,228
Expected Remaining Costs to be Recognized at December 31, 2019	13,490
Other Restructuring [Member] \| 2016 Projects [Member]
Restructuring Cost and Reserve [Line Items]
Total Expected Costs at December 31, 2019	13,942
Costs charged to expense	1,479	$ 11,763
Expected Remaining Costs to be Recognized at December 31, 2019	$ 700

Goodwill - Goodwill Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impaired, Accumulated Impairment Loss	$ 676.5	$ 676.5