Enterprise Wide Segment Information and Net Sales

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2023. No customer accounted for 10% or greater of our net sales during the three and six months ended June 30, 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:

For the Three Months Ended June 30, 2023	Asia			Americas			Europe			Consolidated
Total sales	$	403,434		$	333,178		$	117,393		$	854,005
Intercompany elimination		(188,504	)		(165,537	)		(32,812	)		(386,853	)
Net sales	$	214,930		$	167,641		$	84,581		$	467,152
For the 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
As of and for the
Six Months Ended June 30, 2023	Asia			Americas			Europe			Consolidated
Total sales	$	827,596			664,585		$	217,438		$	1,709,619
Intercompany elimination		(369,969	)		(340,688	)		(64,569	)		(775,226	)
Net sales	$	457,627		$	323,897		$	152,869		$	934,393
Property, plant and equipment, net	$	540,172		$	90,588		$	117,355		$	748,115
Total assets	$	1,553,842		$	505,460		$	281,769		$	2,341,071
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

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 Three Months Ended June 30,
Net Sales by Region	2023		2022
Asia	$	313,754	$	372,055
Europe		92,239		68,032
Americas		61,159		60,885
Total net sales	$	467,152	$	500,972
Net Sales by Type
Direct sales	$	144,083	$	147,249
Distributor sales		323,069		353,723
Total net sales	$	467,152	$	500,972
	For the Six Months Ended June 30,
Net Sales by Region	2023		2022
Asia	$	637,922	$	736,871
Europe		169,229		132,803
Americas		127,242		113,421
Total net sales	$	934,393	$	983,095
Net Sales by Type
Direct sales	$	279,028	$	295,667
Distributor sales		655,365		687,428
Total net sales	$	934,393	$	983,095

Net sales from products shipped to China was $171.9 million and $240.6 million for the three months ended June 30, 2023 and 2022, respectively. Net sales from products shipped to China was $351.6 million and $471.0 million for the six months ended June 30, 2023 and 2022, respectively.