Segment Information and Net Sales

9 Months Ended

Sep. 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. No customer accounted for 10% or more of our net sales or 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 September 30, 2020	Asia			North America			Europe			Consolidated
Total sales	$	374,456		$	225,503		$	57,207		$	657,166
Intercompany elimination		(161,630	)		(157,370	)		(28,707	)		(347,707	)
Net sales	$	212,826		$	68,133		$	28,500		$	309,459
Three Months Ended September 30, 2019	Asia			North America			Europe			Consolidated
Total sales	$	323,876		$	175,900		$	63,583		$	563,359
Intercompany elimination		(115,879	)		(96,150	)		(27,656	)		(239,685	)
Net sales	$	207,997		$	79,750		$	35,927		$	323,674
As of and for the
Nine Months Ended September 30, 2020	Asia			North America			Europe			Consolidated
Total sales	$	999,758		$	584,218		$	169,993		$	1,753,969
Intercompany elimination		(412,103	)		(383,379	)		(79,642	)		(875,124	)
Net sales	$	587,655		$	200,839		$	90,351		$	878,845
Property, plant and equipment, net	$	355,608		$	24,455		$	73,424		$	453,487
Total assets	$	1,551,935		$	263,444		$	217,273		$	2,032,652
As of and for the
Nine Months Ended September 30, 2019	Asia			North America			Europe			Consolidated
Total sales	$	917,516		$	450,874		$	180,759		$	1,549,149
Intercompany elimination		(305,581	)		(228,344	)		(67,251	)		(601,176	)
Net sales	$	611,935		$	222,530		$	113,508		$	947,973
Property, plant and equipment, net	$	385,862		$	23,186		$	59,074		$	468,122
Total assets	$	1,173,683		$	237,467		$	198,663		$	1,609,813

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 nine months ended September 30, 2020 and 2019:

	Three Months Ended
	September 30,
Net Sales by Region	2020		2019
Asia	$	243,773	$	240,390
Europe		41,897		53,336
Americas		23,789		29,948
Total net sales	$	309,459	$	323,674
Net Sales by Type
Direct sales	$	115,437	$	110,313
Distributor sales		194,022		213,361
Total net sales	$	309,459	$	323,674
	Nine Months Ended
	September 30,
Net Sales by Region	2020		2019
Asia	$	677,634	$	703,761
Europe		131,973		137,780
Americas		69,238		106,432
Total net sales	$	878,845	$	947,973
Net Sales by Type
Direct sales	$	396,018	$	305,602
Distributor sales		482,827		642,371
Total net sales	$	878,845	$	947,973

Net sales from products shipped to China was $161.6 million and $163.3 million for the three months ended September 30, 2020 and 2019, respectively, and $452.9 million and $475.1 million for the nine months ended September 30, 2020 and 2019, respectively.