Business Segments, Customer Concentrations and Geographic Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Business Segments, Customer Concentrations and Geographic Information

Business Segments, Customer Concentrations and Geographic Information

We operate as a single operating segment as managed by our Chief Executive Officer, who is considered our chief operating decision maker (“CODM”). The CODM bears the ultimate responsibility for, and is actively engaged in, the allocation of resources and the evaluation of our operating and financial results. We have concluded that we have a single operating segment based on the following:

•We are managed under a functionally-based organizational structure with the head of each function reporting directly to the CODM;

•We assess performance, including incentive compensation, based on consolidated operating performance and financial results;

•Our CODM allocates resources and makes other operating decisions based on specific customer business opportunities and

•We have an integrated process for the design, development and manufacturing services we provide to all of our customers. We also have centralized sales and administrative functions.

Net sales by product group consist of the following:

	For the Year Ended December 31,
	2023		2022		2021
	(In thousands)
Advanced Products	$	5,032,859	$	5,367,589	$	4,409,207
Mainstream Products	1,470,206		1,723,996		1,729,122
Total net sales	$	6,503,065	$	7,091,585	$	6,138,329

(1)Advanced Products include flip chip, memory and wafer-level processing and related test services.

(2)Mainstream Products include all other wirebond packaging and related test services.

Net sales by end market consist of the following:

	For the Year Ended December 31,
	2023		2022		2021
Communications (smartphones, tablets)	50	%	44	%	41	%
Automotive, industrial and other (ADAS, electrification, infotainment, safety)	21	%	20	%	21	%
Computing (data center, infrastructure, PC/laptop, storage)	16	%	16	%	16	%
Consumer (AR & gaming, connected home, home electronics, wearables)	13	%	20	%	22	%
Total net sales	100	%	100	%	100	%

Net sales by region based on customer headquarters location consist of the following:

	For the Year Ended December 31,
	2023		2022		2021
	(In thousands)
Europe, Middle East and Africa	$	1,043,880	$	1,084,853	$	1,061,369
Japan	935,620		1,132,121		1,253,717
Asia Pacific (excluding Japan)	704,520		1,017,246		999,591
Total foreign countries	2,684,020		3,234,220		3,314,677
United States	3,819,045		3,857,365		2,823,652
Total net sales	$	6,503,065	$	7,091,585	$	6,138,329

In 2023, 2022 and 2021 one customer accounted for 27.7%, 20.6% and 13.7% of total net sales, respectively. In 2022, a second customer accounted for 10.1% of total net sales.

Property, plant and equipment, net, based on physical location, consist of the following:

	December 31,
	2023		2022
	(In thousands)
China	$	385,544	$	476,945
Japan	143,399		121,842
Korea	1,781,632		1,868,956
Malaysia	51,164		41,978
Philippines	183,430		195,805
Portugal	108,982		82,454
Taiwan	272,428		261,449
Vietnam	365,059		79,630
Other foreign countries	272		583
Total foreign countries	3,291,910		3,129,642
United States	7,535		5,972
Total property, plant and equipment, net	$	3,299,445	$	3,135,614