Segment Information and Net Sales

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information and Net Sales

NOTE 7 – Segment Information and Net Sales

Segment Reporting. For financial reporting purposes, we operate in a single segment, standard semiconductor products, through our various manufacturing and distribution facilities. We aggregate our products because the products are similar and have similar economic characteristics, use similar production processes and share similar customer type. Our primary operations include operations in Asia, North America and Europe. During the three months ended September 30, 2021, one customer, a broad-based global distributor that sells to thousands of different end users, accounted for 10% or $44.8 million of our net sales. No customer accounted for 10% or greater of our net sales during any other period presented in this Quarterly Report. No customer accounted for 10% or greater of our outstanding accounts receivable at September 30, 2021 or 2020.

The tables below set forth net sales based on the location of the subsidiary producing the net sale:

Three Months Ended September 30, 2021	Asia			Americas			Europe			Consolidated
Total sales	$	503,968		$	300,055		$	74,335		$	878,358
Intercompany elimination		(196,858	)		(180,396	)		(29,682	)		(406,936	)
Net sales	$	307,110		$	119,659		$	44,653		$	471,422
Three Months Ended September 30, 2020	Asia			Americas			Europe			Consolidated
Total sales	$	374,456		$	225,503		$	57,207		$	657,166
Intercompany elimination		(161,630	)		(157,370	)		(28,707	)		(347,707	)
Net sales	$	212,826		$	68,133		$	28,500		$	309,459
As of and for the
Nine Months Ended September 30, 2021	Asia			Americas			Europe			Consolidated
Total sales	$	1,458,120		$	808,607		$	202,107		$	2,468,834
Intercompany elimination		(552,212	)		(508,543	)		(83,088	)		(1,143,843	)
Net sales	$	905,908		$	300,064		$	119,019		$	1,324,991
Property, plant and equipment, net	$	421,254		$	23,792		$	95,474		$	540,520
Total assets	$	1,456,670		$	345,471		$	239,768		$	2,041,909
As of and for the
Nine Months Ended September 30, 2020	Asia			Americas			Europe			Consolidated
Total sales	$	999,758		$	584,218		$	169,993		$	1,753,969
Intercompany elimination		(412,103	)		(383,379	)		(79,642	)		(875,124	)
Net sales	$	587,655		$	200,839		$	90,351		$	878,845
Property, plant and equipment, net	$	355,608		$	24,455		$	73,424		$	453,487
Total assets	$	1,551,935		$	263,444		$	217,273		$	2,032,652

Disaggregation of Net Sales. We disaggregate net sales with customers into direct sales and distribution sales (“Distributors”) and by geographic area. Direct sales customers consist of those customers using our product in their manufacturing process, and Distributors are those customers who resell our products to third parties. We deliver our products to customers around the world for use in consumer electronics, computing, communications, industrial and automotive markets. Further, most of our contracts are fixed-price arrangements, and are short term in nature, ranging from days to several months.

The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment and by type (direct sales or Distributor):

	Three Months Ended
Net Sales by Region	2021		2020
Asia	$	376,062	$	243,773
Europe		58,202		41,897
Americas		37,158		23,789
Total net sales	$	471,422	$	309,459
Net Sales by Type
Direct sales	$	159,247	$	115,437
Distributor sales		312,175		194,022
Total net sales	$	471,422	$	309,459
	Nine Months Ended
Net Sales by Region	2021		2020
Asia	$	1,064,001	$	677,634
Europe		160,643		131,973
Americas		100,347		69,238
Total net sales	$	1,324,991	$	878,845
Net Sales by Type
Direct sales	$	458,017	$	396,018
Distributor sales		866,974		482,827
Total net sales	$	1,324,991	$	878,845

Net sales from products shipped to China was $244.2 million and $161.6 million for the three months ended September 30, 2021 and 2020, respectively and $695.8 million and $452.9 million for the nine months ended September 30, 2021 and 2020, respectively.