Segment Information and Net Sales

3 Months Ended

Mar. 31, 2021

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 similar 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 Quarterly Report. 

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, 2021	Asia			Americas			Europe			Consolidated
Total sales	$	471,069		$	246,827		$	60,174		$	778,070
Intercompany elimination		(178,950	)		(160,829	)		(25,170	)		(364,949	)
Net sales	$	292,119		$	85,998		$	35,004		$	413,121
Property, plant and equipment, net	$	400,149		$	24,539		$	85,779		$	510,467
Total assets	$	1,461,428		$	240,063		$	288,851		$	1,990,342
As of and for the
Three Months Ended March 31, 2020	Asia			Americas			Europe			Consolidated
Total sales	$	301,863		$	168,172		$	59,001		$	529,036
Intercompany elimination		(116,921	)		(104,464	)		(26,934	)		(248,319	)
Net sales	$	184,942		$	63,708		$	32,067		$	280,717
Property, plant and equipment, net	$	364,624		$	24,110		$	67,388		$	456,122
Total assets	$	1,208,572		$	197,178		$	214,516		$	1,620,266

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 consumer electronics, computing, communications, industrial and automotive 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 for the Company disaggregated into geographic locations based on shipment and by type (direct sales or Distributor) for the three months ended March 31, 2021 and 2020:

	Three Months Ended
	March 31,
Net Sales by Region	2021		2020
Asia	$	334,976	$	210,805
Europe		48,386		46,931
Americas		29,759		22,981
Total net sales	$	413,121	$	280,717
Net Sales by Type
Direct sales	$	147,722	$	99,544
Distributor sales		265,399		181,173
Total net sales	$	413,121	$	280,717

Net sales from products shipped to China was $222.3 million and $138.9 million for the three months ended March 31, 2021 and 2020, respectively.