Enterprise Wide Segment Information and Net Sales

3 Months Ended

Mar. 31, 2023

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. Two customers each accounted for 10% or greater of our net sales during the three months ended March 31, 2023. No customer accounted for 10% or greater of our net sales during the three months ended March 31, 2022. No customer accounted for 10% or more of our outstanding accounts receivable at any point in the periods presented in this Quarterly Report on Form 10-Q. All customers that accounted for 10% or more of our net sales during any period presented in this Quarterly Report on Form 10-Q, are broad-based global distributors that sell to thousands of different end users.

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 the industrial, automotive, computing, consumer and communications 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, 2023	Asia			Americas			Europe			Consolidated
Total sales	$	424,162		$	331,407		$	100,045		$	855,614
Intercompany elimination		(181,465	)		(175,151	)		(31,757	)		(388,373	)
Net sales	$	242,697		$	156,256		$	68,288		$	467,241
Property, plant and equipment, net	$	550,373		$	92,729		$	112,605		$	755,707
Total assets	$	1,590,485		$	442,763		$	252,313		$	2,285,561
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

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	2023		2022
Asia	$	324,167	$	364,816
Europe		76,990		64,771
Americas		66,084		52,536
Total net sales	$	467,241	$	482,123
Net Sales by Type
Direct sales	$	134,945	$	148,418
Distributor sales		332,296		333,705
Total net sales	$	467,241	$	482,123

Net sales from products shipped to China was $179.7 million and $230.4 million for the three months ended March 31, 2023 and 2022, respectively.