Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

17.  SEGMENT INFORMATION

The Company has organized its business segments according to its key product lines. The BBU segment designs, develops, manufactures, and markets the Company’s modular DC-DC converters and configurable products, and also includes the entities comprising Vicor Custom Power, the BBU operations of VJCL, and the operations of the Company’s Westcor division through its closure in December 2014. Since the two noncontrolling interest Vicor Custom Power transactions occurred on December 28, 2015, as discussed in Note 9, the following segment information includes the full year operating results for APS and MPS in 2015, but not total assets for APS as of December 31, 2015. The VI Chip segment includes VI Chip Corporation, which designs, develops, manufactures, and markets many of the Company’s advanced power component products. The VI Chip segment also includes the VI Chip business conducted through VJCL. The Picor segment includes Picor Corporation, which designs, develops, manufactures, and markets integrated circuits and related products for use in a variety of power management and power system applications. The Picor segment develops these products for use in the Company’s BBU and VI Chip modules, to be sold as complements to the Company’s BBU and VI Chip products, or for sale to third parties for separate (i.e., stand-alone) applications.

The Company’s Chief Executive Officer (i.e., the chief operating decision maker) evaluates performance and allocates resources based on segment revenues and segment operating income (loss). The operating income (loss) for each segment includes selling, general, and administrative and research and development expenses directly attributable to the segment. Certain of the Company’s indirect overhead costs, which include corporate selling, general, and administrative expenses, are allocated among the segments based upon an estimate of costs associated with each segment. Assets allocated to each segment are based upon specific identification of such assets, which include accounts receivable, inventories, fixed assets and certain other assets. The Corporate segment consists of those operations and assets shared by all segments. The costs of certain centralized executive and administrative functions are recorded in this segment, as are certain shared assets, most notably cash and cash equivalents, deferred tax assets, long-term investments, the Company’s facilities in Massachusetts, real estate, and other assets. The Company’s accounting policies and method of presentation for segments are consistent with that used throughout the Consolidated Financial Statements.

The following table provides significant segment financial data as of and for the years ended December 31 (in thousands):

	BBU		VI Chip			Picor			Corporate			Eliminations			Total
												(1)
2015:
Net revenues	$	173,064	$	36,688		$	17,304		$	—		$	(6,862	)	$	220,194
Income (loss) from operations		21,743		(21,040	)		(290	)		(680	)		—			(267	)
Total assets		170,939		15,577			5,369			81,824			(116,164	)		157,545
Depreciation and amortization		4,538		2,740			442			1,422			—			9,142
2014:
Net revenues	$	184,224	$	34,701		$	15,570		$	—		$	(8,764	)	$	225,731
Income (loss) from operations		15,499		(29,015	)		(407	)		(840	)		—			(14,763	)
Total assets		151,923		17,677			5,691			75,758			(95,507	)		155,542
Depreciation and amortization		4,711		3,265			410			1,419			—			9,805
2013:
Net revenues	$	163,013	$	35,333		$	10,416		$	—		$	(9,602	)	$	199,160
Income (loss) from operations		12,062		(28,204	)		(3,326	)		(999	)		—			(20,467	)
Total assets		126,585		21,370			4,308			81,364			(67,987	)		165,640
Depreciation and amortization		6,185		3,232			407			184			—			10,008

(1) The elimination for net revenues is principally related to inter-segment revenues of Picor to BBU and VI Chip and for inter-segment revenues of VI Chip to BBU. The elimination for total assets is principally related to inter-segment accounts receivable due to BBU for the funding of VI Chip and Picor operations.