Segment and Geographic Data

12 Months Ended

Dec. 31, 2014

Segment and Geographic Data [Abstract]

Segment and Geographic Data

Note 15 –Segment and Geographic Data

Vishay operates, and its chief operating decision maker makes strategic and operating decisions with regards to assessing performance and allocating resources based on, five reporting segments: MOSFETs, Diodes, Optoelectronic Components, Resistors & Inductors, and Capacitors.

The Company evaluates business segment performance on operating income, exclusive of certain items ("segment operating income"). Only dedicated, direct selling, general, and administrative expenses of the segments are included in the calculation of segment operating income. The Company's calculation of segment operating income excludes such selling, general, and administrative costs as global operations, sales and marketing, information systems, finance and administration groups, as well as restructuring and severance costs, executive compensation charges (credits), material gains or losses on sales of property, and other items. Management believes that evaluating segment performance excluding such items is meaningful because it provides insight with respect to intrinsic operating results of the Company. These items represent reconciling items between segment operating income and consolidated operating income. Business segment assets are the owned or allocated assets used by each business.

The Company has also disclosed certain additional items not used to evaluate segment performance. In some cases, the items are regularly provided to the chief operating decision maker and are required to be disclosed by GAAP. Additionally, the additional segment disclosures may provide insight to the Company's future profitability by reportable segment.

Note 15 –Segment and Geographic Data (continued)

The following tables set forth business segment information:

	MOSFETs		Diodes		Optoelectronic Components		Resistors & Inductors		Capacitors		Corporate / Other		Total
Year ended December 31, 2014:
Product sales	$	470,377	$	579,288	$	258,248	$	755,251	$	425,593	$	-	$	2,488,757
Royalty revenues		160		-		-		4,365		-		-	$	4,525
Total revenue	$	470,537	$	579,288	$	258,248	$	759,616	$	425,593	$	-	$	2,493,282
Gross Margin	$	59,614	$	132,021	$	91,165	$	241,090	$	87,402	$	-	$	611,292
Depreciation expense	$	53,939	$	39,592	$	13,266	$	32,380	$	20,524	$	1,103	$	160,804
Interest expense (income)		-		21		41		119		18		24,258	$	24,457
Capital expenditures		33,672		41,713		23,008		42,950		12,694		2,937	$	156,974
Total Assets as of December 31, 2014:	$	499,550	$	732,502	$	422,257	$	812,664	$	605,281	$	226,519	$	3,298,773
Year ended December 31, 2013:
Product sales	$	449,299	$	547,264	$	228,194	$	700,115	$	439,745	$	-	$	2,364,617
Royalty revenues		178		-		51		6,133		-		-	$	6,362
Total revenue	$	449,477	$	547,264	$	228,245	$	706,248	$	439,745	$	-	$	2,370,979
Gross Margin	$	59,387	$	121,231	$	76,732	$	221,851	$	88,059	$	-	$	567,260
Depreciation expense	$	50,606	$	37,305	$	12,484	$	31,998	$	21,596	$	1,075	$	155,064
Interest expense (income)		-		54		122		79		28		22,847	$	23,130
Capital expenditures		41,869		44,431		18,310		32,515		13,052		2,900	$	153,077
Total Assets as of December 31, 2013:	$	543,037	$	788,121	$	213,128	$	843,685	$	636,637	$	212,531	$	3,237,139
Year ended December 31, 2012:
Product sales	$	433,436	$	496,744	$	209,141	$	635,488	$	448,157	$	-	$	2,222,966
Royalty revenues		246		-		53		6,832		-		-	$	7,131
Total revenue	$	433,682	$	496,744	$	209,194	$	642,320	$	448,157	$	-	$	2,230,097
Gross Margin	$	56,694	$	99,116	$	67,943	$	204,137	$	98,783	$	-	$	526,673
Depreciation expense	$	49,124	$	36,335	$	11,917	$	31,921	$	23,354	$	1,150	$	153,801
Interest expense (income)		-		64		140		543		52		21,805	$	22,604
Capital expenditures		49,201		30,025		16,759		35,878		15,531		2,897	$	150,291
Total Assets as of December 31, 2012:	$	625,597	$	670,811	$	199,385	$	760,257	$	587,586	$	172,641	$	3,016,277

Note 15 –Segment and Geographic Data (continued)

	Years ended December 31,
	2014			2013			2012
Operating margin reconciliation:
MOSFETs	$	21,095		$	19,140		$	17,198
Diodes		106,068			96,581			75,733
Optoelectronic Components		73,463			62,259			54,632
Resistors & Inductors		203,343			186,583			172,129
Capacitors		62,460			64,494			76,858
Restructuring and Severance Costs		(20,897	)		(2,814	)		-
U.S. Pension Settlement Charges		(15,588	)		-			-
Gain on Sale of Property		-			-			12,153
Executive Compensation Credit (Charges)		-			1,778			-
Unallocated Selling, General, and Administrative Expenses		(240,833	)		(230,339	)		(219,502	)
Consolidated Operating Income (Loss)	$	189,111		$	197,682		$	189,201

See Note 4 for restructuring and severance costs segment information.

The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:

	Years ended December 31,
	2014		2013		2012
United States	$	590,145	$	591,082	$	568,849
Germany		821,005		800,733		775,204
Other Europe		107,598		89,348		61,236
Israel		13,871		13,319		14,708
Asia		960,663		876,497		810,100
	$	2,493,282	$	2,370,979	$	2,230,097

The following table summarizes property and equipment based on physical location:

	December 31,
	2014		2013
United States	$	116,807	$	123,812
Germany		124,850		130,854
Czech Republic		38,914		47,002
Other Europe		94,377		107,381
Israel		121,691		138,741
People's Republic of China		176,671		172,274
Republic of China (Taiwan)		127,354		120,368
Other Asia		95,263		84,388
Other		2,168		1,799
	$	898,095	$	926,619