Segment Information and Net Sales

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information and Net Sales

NOTE 7 – Enterprise Wide 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, the Americas and Europe. No customer accounted for 10% or more of our net sales or outstanding accounts receivable at any point in the periods presented in this Quarterly Report.

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 based on the location of the subsidiary producing the net sale:

As of and for the
Three Months Ended March 31, 2022	Asia			Americas			Europe			Consolidated
Total sales	$	450,885		$	293,770		$	78,057		$	822,712
Intercompany elimination		(157,163	)		(157,577	)		(25,849	)		(340,589	)
Net sales	$	293,722		$	136,193		$	52,208		$	482,123
Property, plant and equipment, net	$	465,262		$	22,413		$	102,240		$	589,915
Total assets	$	1,590,331		$	347,098		$	228,033		$	2,165,462
As of and for the
Three Months Ended March 31, 2021	Asia			Americas			Europe			Consolidated
Total sales	$	471,069		$	246,827		$	60,174		$	778,070
Intercompany elimination		(178,950	)		(160,829	)		(25,170	)		(364,949	)
Net sales	$	292,119		$	85,998		$	35,004		$	413,121
Property, plant and equipment, net	$	400,149		$	24,539		$	85,779		$	510,467
Total assets	$	1,461,428		$	240,063		$	288,851		$	1,990,342

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	2022		2021
Asia	$	364,816	$	334,976
Europe		64,771		48,386
Americas		52,536		29,759
Total net sales	$	482,123	$	413,121
Net Sales by Type
Direct sales	$	148,418	$	147,722
Distributor sales		333,705		265,399
Total net sales	$	482,123	$	413,121

Net sales from products shipped to China was $230.4 million and $222.3 million for the three months ended March 31, 2022 and 2021, respectively.