Enterprise Wide Segment Information and Net Sales

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Enterprise Wide 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:

Three Months Ended June 30, 2022	Asia			Americas			Europe			Consolidated
Total sales	$	464,154		$	313,884		$	86,399		$	864,437
Intercompany elimination		(166,656	)		(166,594	)		(30,215	)		(363,465	)
Net sales	$	297,498		$	147,290		$	56,184		$	500,972
Three Months Ended June 30, 2021	Asia			Americas			Europe			Consolidated
Total sales	$	483,083		$	261,725		$	67,598		$	812,406
Intercompany elimination		(176,404	)		(167,318	)		(28,236	)		(371,958	)
Net sales	$	306,679		$	94,407		$	39,362		$	440,448
As of and for the
Six Months Ended June 30, 2022	Asia			Americas			Europe			Consolidated
Total sales	$	915,039		$	607,654		$	164,456		$	1,687,149
Intercompany elimination		(323,819	)		(324,171	)		(56,064	)		(704,054	)
Net sales	$	591,220		$	283,483		$	108,392		$	983,095
Property, plant and equipment, net	$	472,923		$	100,092		$	98,639		$	671,654
Total assets	$	1,627,631		$	424,489		$	232,924		$	2,285,044
As of and for the
Six Months Ended June 30, 2021	Asia			Americas			Europe			Consolidated
Total sales	$	954,152		$	508,552		$	127,772		$	1,590,476
Intercompany elimination		(355,354	)		(328,147	)		(53,406	)		(736,907	)
Net sales	$	598,798		$	180,405		$	74,366		$	853,569
Property, plant and equipment, net	$	412,421		$	25,044		$	84,717		$	522,182
Total assets	$	1,423,099		$	350,339		$	219,531		$	1,992,969

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	$	372,055	$	353,312
Europe		68,032		54,056
Americas		60,885		33,080
Total net sales	$	500,972	$	440,448
Net Sales by Type
Direct sales	$	147,249	$	151,048
Distributor sales		353,723		289,400
Total net sales	$	500,972	$	440,448
	Six Months Ended
Net Sales by Region	2022		2021
Asia	$	736,871	$	687,937
Europe		132,803		102,442
Americas		113,421		63,190
Total net sales	$	983,095	$	853,569
Net Sales by Type
Direct sales	$	295,667	$	298,939
Distributor sales		687,428		554,630
Total net sales	$	983,095	$	853,569

Net sales from products shipped to China was $240.6 million and $229.3 million for the three months ended June 30, 2022 and 2021, respectively. Net sales from products shipped to China was $471.0 million and $451.7 million for the six months ended June 30, 2022 and 2021, respectively.