Segment Information and Net Sales

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information and Net Sales

NOTE 7 – 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 the same customer type. Our primary operations include operations in Asia, North America and Europe.  During the three months ended June 30, 2019, one customer, a broad-based global distributor that sells to thousands of different end users, accounted for 10% or $31.5 million of our net sales.  No customer accounted for 10% or greater of our net sales during any other period presented. No customer accounted for 10% or more of our outstanding accounts receivable at any point in the periods presented in this report.  

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

Three Months Ended June 30, 2020	Asia			North America			Europe			Consolidated
Total sales	$	323,439		$	190,543		$	53,785		$	567,767
Intercompany elimination		(133,552	)		(121,545	)		(24,001	)		(279,098	)
Net sales	$	189,887		$	68,998		$	29,784		$	288,669
Three Months Ended June 30, 2019	Asia			North America			Europe			Consolidated
Total sales	$	319,740		$	173,694		$	66,124		$	559,558
Intercompany elimination		(116,105	)		(94,278	)		(27,169	)		(237,552	)
Net sales	$	203,635		$	79,416		$	38,955		$	322,006
As of and for the
Six Months Ended June 30, 2020	Asia			North America			Europe			Consolidated
Total sales	$	625,302		$	358,715		$	112,786		$	1,096,803
Intercompany elimination		(250,473	)		(226,009	)		(50,935	)		(527,417	)
Net sales	$	374,829		$	132,706		$	61,851		$	569,386
Property, plant and equipment, net	$	355,704		$	24,435		$	70,476		$	450,615
Total assets	$	1,494,605		$	230,888		$	211,670		$	1,937,163
As of and for the
Six Months Ended June 30, 2019	Asia			North America			Europe			Consolidated
Total sales	$	593,640		$	274,974		$	117,176		$	985,790
Intercompany elimination		(189,702	)		(132,194	)		(39,595	)		(361,491	)
Net sales	$	403,938		$	142,780		$	77,581		$	624,299
Property, plant and equipment, net	$	399,378		$	22,450		$	48,862		$	470,690
Total assets	$	1,190,443		$	235,248		$	188,468		$	1,614,159

Disaggregation of Net Sales. 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 consumer electronics, computing, communications, industrial and automotive. 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 three months and six months ended June 30, 2020 and 2019:

	Three Months Ended
	June 30,
Net Sales by Region	2020		2019
Asia	$	223,056	$	239,082
Europe		43,145		46,050
Americas		22,468		36,874
Total net sales	$	288,669	$	322,006
Net Sales by Type
Direct sales	$	92,671	$	108,931
Distributor sales		195,998		213,075
Total net sales	$	288,669	$	322,006
	Six Months Ended
	June 30,
Net Sales by Region	2020		2019
Asia	$	433,861	$	463,371
Europe		90,076		84,444
Americas		45,449		76,484
Total net sales	$	569,386	$	624,299
Net Sales by Type
Direct sales	$	280,581	$	195,289
Distributor sales		288,805		429,010
Total net sales	$	569,386	$	624,299

Net sales from products shipped to China was $152.4 million and $160.3 million for the three months ended June 30, 2020 and 2019, respectively and $291.3 million and $311.8 million for the six months ended June 30, 2020 and 2019, respectively.