Segment Information, Revenue and Enterprise-Wide Disclosures

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information, Revenue and Enterprise-Wide Disclosures

Note 16 – Segment Information, Revenue and Enterprise-Wide Disclosures

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 the same customer type. Our primary operations include operations in Asia, North America and Europe. The accounting policies of the operating entities are the same as those described in the summary of significant accounting policies. During the twelve months ended December 31, 2022 one customer, a broad-based distributor serving thousands of customers, accounted for 10% or more or our net sales. During the twelve months ended December 31, 2021 and 2020 no customer accounting for 10% or more of our net sales. No customer accounted for 10% or greater of our outstanding accounts receivable at December 31, 2022 or 2021.

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

2022	Asia			Americas			Europe			Consolidated
Total sales	$	1,891,855		$	1,361,223		$	358,930		$	3,612,008
Inter-company sales		(769,630	)		(722,872	)		(118,926	)		(1,611,428	)
Net sales	$	1,122,225		$	638,351		$	240,004		$	2,000,580
Property, plant and equipment	$	529,365		$	95,584		$	111,781		$	736,730
Assets	$	1,599,805		$	440,014		$	248,493		$	2,288,312
2021	Asia			Americas			Europe			Consolidated
Total sales	$	1,939,540		$	1,108,460		$	278,126		$	3,326,126
Inter-company sales		(730,058	)		(678,662	)		(112,244	)		(1,520,964	)
Net sales	$	1,209,482		$	429,798		$	165,882		$	1,805,162
Property, plant and equipment	$	456,109		$	22,943		$	103,026		$	582,079
Assets	$	1,547,518		$	415,133		$	231,844		$	2,194,495
2020	Asia			Americas			Europe			Consolidated
Total sales	$	1,399,517		$	807,405		$	222,227		$	2,429,149
Inter-company sales		(565,723	)		(531,385	)		(102,826	)		(1,199,934	)
Net sales	$	833,794		$	276,020		$	119,401		$	1,229,215
Property, plant and equipment	$	421,185		$	24,726		$	84,904		$	530,815
Assets	$	1,522,835		$	229,610		$	227,012		$	1,979,457

Disaggregation of Revenue. We disaggregate net sales from contracts 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 industrial, automotive, computing, communications and consumer applications. 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) for the twelve months ended December 31, 2022, 2021 and 2020:

Net Sales by Region	2022		2021		2020
Asia	$	1,480,191	$	1,439,545	$	961,376
Europe		283,900		220,772		171,985
Americas		236,489		144,845		95,854
Total net sales	$	2,000,580	$	1,805,162	$	1,229,215
Net Sales by Type	2022		2021		2020
Direct sales	$	590,173	$	607,645	$	419,024
Distributor sales		1,410,407		1,197,517		810,191
Total net sales	$	2,000,580	$	1,805,162	$	1,229,215

Net sales from products shipped to China for the twelve months ended December 31, 2022, 2021 and 2020, was $941.3 million $938.1 million and $649.9 million, respectively. While net sales in total have continued to grow in all geographic locations presented, net sales in Asia, as a percentage of total net sales has declined due to the result of lockdowns related to the zero-COVID policy, which we believe has impacted end-demand in China.