0001157523-21-000125.txt : 20210202 0001157523-21-000125.hdr.sgml : 20210202 20210202160229 ACCESSION NUMBER: 0001157523-21-000125 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20210202 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20210202 DATE AS OF CHANGE: 20210202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWER INTEGRATIONS INC CENTRAL INDEX KEY: 0000833640 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 943065014 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23441 FILM NUMBER: 21581349 BUSINESS ADDRESS: STREET 1: 5245 HELLYER AVE CITY: SAN JOSE STATE: CA ZIP: 95138 BUSINESS PHONE: 4084149200 MAIL ADDRESS: STREET 1: 5245 HELLYER AVE CITY: SAN JOSE STATE: CA ZIP: 95138 8-K 1 a52372604.htm POWER INTEGRATIONS, INC. 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
______________
 
FORM 8-K


CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securites Exchange Act of 1934

Date of Report (Date of earliest event reported): February 2, 2021
______________

Power Integrations, Inc.
(Exact name of Registrant as specified in its charter)
 
______________
 
Delaware
000-23441
94-3065014
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
 
5245 Hellyer Avenue
San Jose, California 95138-1002
(Address of principal executive offices)

 (408) 414-9200
 (Registrant’s telephone number, including area code)
______________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
   Trading Symbol(s)
   Name of each exchange on which registered
Common Stock, $0.001 Par Value
   POWI
  
The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02. Results of Operations and Financial Condition.
 
On February 2, 2021 the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
Item 9.01. Financial Statements and Exhibits.
 
  Exhibit 99.1 Press release dated February 2, 2021
 
 
 
  Exhibit 104
 Cover Page Interactive Data File (formatted as Inline XBRL)


 
SIGNATURES
 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 
Power Integrations, Inc.
     
     
 
By:
 /s/ Sandeep Nayyar
   
Name:
Sandeep Nayyar
   
Title:
Chief Financial Officer


Dated:  February 2, 2021

 EX-99.1 2 a52372604ex99_1.htm EXHIBIT 99.1
Exhibit 99.1

Power Integrations Reports Fourth-Quarter and Full-Year Financial Results

Quarterly revenues increased 32 percent year-over-year to $150.7 million; GAAP earnings were $0.45 per diluted share; non-GAAP earnings were $0.60 per diluted share

Full-year revenues grew 16 percent to $488.3 million; cash flow from operations was $125.6 million; quarterly dividend increases by 18 percent to $0.13 per share

SAN JOSE, Calif.--(BUSINESS WIRE)--February 2, 2021--Power Integrations (Nasdaq: POWI) today announced financial results for the quarter and year ended December 31, 2020. Per-share measures for all periods have been adjusted for the 2:1 stock split effected as a stock dividend in August 2020.

Net revenues for the fourth quarter of 2020 were $150.7 million, up 24 percent compared to the prior quarter and up 32 percent from the fourth quarter of 2019. Net income for the fourth quarter was $27.3 million or $0.45 per diluted share compared to $0.24 per diluted share in the prior quarter and $2.64 per diluted share in the fourth quarter of 2019. Results for the fourth quarter of 2019 included a benefit of $2.39 per diluted share from a patent-litigation settlement. Cash flow from operations for the fourth quarter was $46.4 million.

In addition to its GAAP results, the company provided certain non-GAAP measures that exclude stock-based compensation, amortization of acquisition-related intangible assets and the tax effects of these items. Non-GAAP net income for the fourth quarter of 2020 was $36.4 million or $0.60 per diluted share compared with $0.40 per diluted share in the prior quarter and $2.80 per diluted share in the fourth quarter of 2019 (which included the benefit of $2.39 per share from the litigation settlement). A reconciliation of GAAP to non-GAAP financial results appears at the end of this press release.

Full-year net revenues were $488.3 million, up 16 percent compared to 2019. Net income was $71.2 million or $1.17 per diluted share, compared to $3.24 per diluted share in 2019. Non-GAAP net income for the full year was $103.5 million or $1.70 per diluted share, compared to $3.69 per diluted share in 2019. (Both GAAP and non-GAAP net income for 2019 included a benefit of $2.41 per share from the settlement.) Full-year cash flow from operations for 2020 was $125.6 million.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “Fourth-quarter revenues came in well above our expectations driven by broad-based demand. All four major end-market categories grew at double-digit rates compared to the prior quarter, and distribution sell-through once again exceeded sell-in. We achieved revenue growth of 16 percent in 2020—far above the rate of the analog semiconductor industry—and we are well positioned for continued growth in 2021.”

Power Integrations paid a cash dividend of $0.11 per share on December 31, 2020. The company’s board of directors has increased the quarterly dividend to $0.13 per share, with the next dividend to be paid on March 31, 2021 to stockholders of record as of February 26, 2021.

Financial Outlook

The company issued the following forecast for the first quarter of 2021:

  • Revenues are expected to be flat compared to the fourth quarter of 2020, plus or minus five percent.
  • GAAP gross margin is expected to be approximately 48 percent, and non-GAAP gross margin is expected to be approximately 49 percent. (The difference between the expected GAAP and non-GAAP gross margins comprises approximately 0.6 percentage points from amortization of acquisition-related intangible assets and 0.4 percentage points from stock-based compensation.)
  • GAAP operating expenses are expected to be approximately $44.5 million; non-GAAP operating expenses are expected to be approximately $37.5 million. (Non-GAAP expenses are expected to exclude approximately $6.8 million of stock-based compensation and $0.2 million of amortization of acquisition-related intangible assets.)

Conference Call Today at 1:30 p.m. Pacific Time

Power Integrations management will hold a conference call today at 1:30 p.m. Pacific time. Members of the investment community can register for the call by visiting the following link: http://www.directeventreg.com/registration/event/4278028. A webcast of the call will also be available on the investor section of the company's website, http://investors.power.com.

About Power Integrations

Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.

Note Regarding Use of Non-GAAP Financial Measures

In addition to the company's consolidated financial statements, which are presented according to GAAP, the company provides certain non-GAAP financial information that excludes stock-based compensation expenses recorded under ASC 718-10, amortization of acquisition-related intangible assets, and the tax effects of these items. The company uses these measures in its financial and operational decision-making and, with respect to one measure, in setting performance targets for compensation purposes. The company believes that these non-GAAP measures offer important analytical tools to help investors understand its operating results, and to facilitate comparability with the results of companies that provide similar measures. Non-GAAP measures have limitations as analytical tools and are not meant to be considered in isolation or as a substitute for GAAP financial information. For example, stock-based compensation is an important component of the company’s compensation mix, and will continue to result in significant expenses in the company’s GAAP results for the foreseeable future, but is not reflected in the non-GAAP measures. Also, other companies, including companies in Power Integrations’ industry, may calculate non-GAAP measures differently, limiting their usefulness as comparative measures. Reconciliations of non-GAAP measures to GAAP measures are attached to this press release.

Note Regarding Forward-Looking Statements

The above statements regarding the company’s forecast for its first-quarter financial performance and being well-positioned for growth in 2021 are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with the company's business, actual results could differ materially from those projected or implied by these statements. These risks and uncertainties include, but are not limited to: the impact of the COVID-19 pandemic on demand for the company’s products, its ability to supply products and its ability to conduct other aspects of its business such as competing for new design wins; changes in global macroeconomic conditions, including changing tariffs and uncertainty regarding trade negotiations, which may impact the level of demand for the company’s products; potential changes and shifts in customer demand away from end products that utilize the company's integrated circuits to end products that do not incorporate the company's products; the effects of competition, which may cause the company’s revenues to decrease or cause the company to decrease its selling prices for its products; unforeseen costs and expenses; and unfavorable fluctuations in component costs or operating expenses resulting from changes in commodity prices and/or exchange rates. In addition, new product introductions and design wins are subject to the risks and uncertainties that typically accompany development and delivery of complex technologies to the marketplace, including product development delays and defects and market acceptance of the new products. These and other risk factors that may cause actual results to differ are more fully explained under the caption “Risk Factors” in the company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on February 7, 2020, and most recent Quarterly Report on Form 10-Q, filed with the SEC on October 29, 2020. The company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.

POWER INTEGRATIONS, INC.
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per-share amounts)










 










 


Three Months Ended
Twelve Months Ended


December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
NET REVENUES

$

150,693

 


$

121,129

 


$

114,457

 


$

488,318

 


$

420,669

 











 
COST OF REVENUES

 

76,688

 


 

61,560

 


 

56,232

 


 

244,728

 


 

207,267

 











 
GROSS PROFIT

 

74,005

 


 

59,569

 


 

58,225

 


 

243,590

 


 

213,402

 











 
OPERATING EXPENSES:









Research and development

 

21,921

 


 

20,868

 


 

18,298

 


 

81,711

 


 

73,470

 

Sales and marketing

 

14,113

 


 

13,442

 


 

14,241

 


 

53,578

 


 

52,720

 

General and administrative

 

10,028

 


 

10,302

 


 

10,634

 


 

36,895

 


 

37,582

 

Amortization of acquisition-related intangible assets

 

216

 


 

216

 


 

378

 


 

919

 


 

1,577

 

Litigation settlement

 

-

 


 

-

 


 

(168,969

)


 

-

 


 

(168,969

)

Total operating expenses

 

46,278

 


 

44,828

 


 

(125,418

)


 

173,103

 


 

(3,620

)











 
INCOME FROM OPERATIONS

 

27,727

 


 

14,741

 


 

183,643

 


 

70,487

 


 

217,022

 











 
OTHER INCOME

 

630

 


 

877

 


 

1,852

 


 

4,764

 


 

5,392

 











 
INCOME BEFORE INCOME TAXES

 

28,357

 


 

15,618

 


 

185,495

 


 

75,251

 


 

222,414

 











 
PROVISION FOR INCOME TAXES

 

1,079

 


 

798

 


 

27,204

 


 

4,075

 


 

28,946

 











 
NET INCOME

$

27,278

 


$

14,820

 


$

158,291

 


$

71,176

 


$

193,468

 











 
EARNINGS PER SHARE:









Basic

$

0.46

 


$

0.25

 


$

2.69

 


$

1.19

 


$

3.31

 

Diluted

$

0.45

 


$

0.24

 


$

2.64

 


$

1.17

 


$

3.24

 











 
SHARES USED IN PER-SHARE CALCULATION:









Basic

 

59,879

 


 

59,823

 


 

58,854

 


 

59,657

 


 

58,534

 

Diluted

 

61,176

 


 

60,852

 


 

60,010

 


 

60,845

 


 

59,632

 











 










 










 
SUPPLEMENTAL INFORMATION:
Three Months Ended
Twelve Months Ended


December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
Stock-based compensation expenses included in:









Cost of revenues

$

713

 


$

602

 


$

413

 


$

1,963

 


$

1,237

 

Research and development

 

2,942

 


 

2,976

 


 

2,754

 


 

10,378

 


 

8,423

 

Sales and marketing

 

1,740

 


 

1,900

 


 

1,602

 


 

6,290

 


 

5,015

 

General and administrative

 

3,468

 


 

3,880

 


 

3,569

 


 

12,281

 


 

8,672

 

Total stock-based compensation expense

$

8,863

 


$

9,358

 


$

8,338

 


$

30,912

 


$

23,347

 











 
Cost of revenues includes:









Amortization of acquisition-related intangible assets

$

799

 


$

799

 


$

955

 


$

3,196

 


$

3,483

 











 










 


Three Months Ended
Twelve Months Ended
REVENUE MIX BY END MARKET
December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
Communications

 

34

%


 

32

%


 

29

%


 

30

%


 

26

%

Computer

 

9

%


 

9

%


 

6

%


 

7

%


 

5

%

Consumer

 

31

%


 

31

%


 

35

%


 

33

%


 

35

%

Industrial

 

26

%


 

28

%


 

30

%


 

30

%


 

34

%

POWER INTEGRATIONS, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP RESULTS
(in thousands, except per-share amounts)










 


Three Months Ended
Twelve Months Ended


December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
RECONCILIATION OF GROSS PROFIT









GAAP gross profit

$

74,005

 


$

59,569

 


$

58,225

 


$

243,590

 


$

213,402

 

GAAP gross margin

 

49.1

%


 

49.2

%


 

50.9

%


 

49.9

%


 

50.7

%











 
Stock-based compensation included in cost of revenues

 

713

 


 

602

 


 

413

 


 

1,963

 


 

1,237

 

Amortization of acquisition-related intangible assets

 

799

 


 

799

 


 

955

 


 

3,196

 


 

3,483

 











 
Non-GAAP gross profit

$

75,517

 


$

60,970

 


$

59,593

 


$

248,749

 


$

218,122

 

Non-GAAP gross margin

 

50.1

%


 

50.3

%


 

52.1

%


 

50.9

%


 

51.9

%











 










 


Three Months Ended
Twelve Months Ended
RECONCILIATION OF OPERATING EXPENSES
December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
GAAP operating expenses

$

46,278

 


$

44,828

 


$

(125,418

)


$

173,103

 


$

(3,620

)











 
Less: Stock-based compensation expense included in operating expenses









Research and development

 

2,942

 


 

2,976

 


 

2,754

 


 

10,378

 


 

8,423

 

Sales and marketing

 

1,740

 


 

1,900

 


 

1,602

 


 

6,290

 


 

5,015

 

General and administrative

 

3,468

 


 

3,880

 


 

3,569

 


 

12,281

 


 

8,672

 

Total

 

8,150

 


 

8,756

 


 

7,925

 


 

28,949

 


 

22,110

 











 
Amortization of acquisition-related intangible assets

 

216

 


 

216

 


 

378

 


 

919

 


 

1,577

 











 
Non-GAAP operating expenses

$

37,912

 


$

35,856

 


$

(133,721

)


$

143,235

 


$

(27,307

)











 










 


Three Months Ended
Twelve Months Ended
RECONCILIATION OF INCOME FROM OPERATIONS
December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
GAAP income from operations

$

27,727

 


$

14,741

 


$

183,643

 


$

70,487

 


$

217,022

 

GAAP operating margin

 

18.4

%


 

12.2

%


 

160.4

%


 

14.4

%


 

51.6

%











 
Add: Total stock-based compensation

 

8,863

 


 

9,358

 


 

8,338

 


 

30,912

 


 

23,347

 

Amortization of acquisition-related intangible assets

 

1,015

 


 

1,015

 


 

1,333

 


 

4,115

 


 

5,060

 











 
Non-GAAP income from operations

$

37,605

 


$

25,114

 


$

193,314

 


$

105,514

 


$

245,429

 

Non-GAAP operating margin

 

25.0

%


 

20.7

%


 

168.9

%


 

21.6

%


 

58.3

%











 










 


Three Months Ended
Twelve Months Ended
RECONCILIATION OF PROVISION FOR INCOME TAXES
December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
GAAP provision for income taxes

$

1,079

 


$

798

 


$

27,204

 


$

4,075

 


$

28,946

 

GAAP effective tax rate

 

3.8

%


 

5.1

%


 

14.7

%


 

5.4

%


 

13.0

%











 
Tax effect of adjustments to GAAP results

 

(725

)


 

(971

)


 

(53

)


 

(2,719

)


 

(1,955

)











 
Non-GAAP provision for income taxes

$

1,804

 


$

1,769

 


$

27,257

 


$

6,794

 


$

30,901

 

Non-GAAP effective tax rate

 

4.7

%


 

6.8

%


 

14.0

%


 

6.2

%


 

12.3

%











 










 


Three Months Ended
Twelve Months Ended
RECONCILIATION OF NET INCOME PER SHARE (DILUTED)
December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
GAAP net income

$

27,278

 


$

14,820

 


$

158,291

 


$

71,176

 


$

193,468

 











 
Adjustments to GAAP net income









Stock-based compensation

 

8,863

 


 

9,358

 


 

8,338

 


 

30,912

 


 

23,347

 

Amortization of acquisition-related intangible assets

 

1,015

 


 

1,015

 


 

1,333

 


 

4,115

 


 

5,060

 

Tax effect of items excluded from non-GAAP results

 

(725

)


 

(971

)


 

(53

)


 

(2,719

)


 

(1,955

)











 
Non-GAAP net income

$

36,431

 


$

24,222

 


$

167,909

 


$

103,484

 


$

219,920

 











 
Average shares outstanding for calculation of non-GAAP net income per share (diluted)

 

61,176

 


 

60,852

 


 

60,010

 


 

60,845

 


 

59,632

 











 
Non-GAAP net income per share (diluted)

$

0.60

 


$

0.40

 


$

2.80

 


$

1.70

 


$

3.69

 











 
GAAP net income per share (diluted)

$

0.45

 


$

0.24

 


$

2.64

 


$

1.17

 


$

3.24

 











 










 










 
POWER INTEGRATIONS, INC.
CALCULATION OF EARNINGS PER SHARE BENEFIT OF SETTLEMENT
(in thousands, except per-share amounts)










 


Three Months Ended
Twelve Months Ended


December 31, 2020
September 30, 2020
December 31, 2019
December 31, 2020
December 31, 2019
Gain from litigation settlement

$

-

 


$

-

 


$

168,969

 


$

-

 


$

168,969

 

Tax expense attributed to settlement

 

-

 


 

-

 


 

25,543

 


 

-

 


 

25,543

 

Litigation settlement net of tax

$

-

 


$

-

 


$

143,426

 


$

-

 


$

143,426

 











 
Earnings per share benefit of settlement (GAAP and non-GAAP)

$

-

 


$

-

 


$

2.39

 


$

-

 


$

2.41

 











 
Diluted average shares outstanding

 

61,176

 


 

60,852

 


 

60,010

 


 

60,845

 


 

59,632

 

POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)

 
 
   

 
 
   

  December 31, 2020   September 30, 2020   December 31, 2019
ASSETS  
 
 
CURRENT ASSETS:  
 
 
Cash and cash equivalents  

$

258,874

 

 

$

232,014

 

 

$

178,690

 

Short-term marketable securities  

 

190,318

 

 

 

211,926

 

 

 

232,398

 

Accounts receivable, net  

 

35,910

 

 

 

29,447

 

 

 

24,274

 

Inventories  

 

102,878

 

 

 

104,805

 

 

 

90,380

 

Prepaid expenses and other current assets  

 

13,252

 

 

 

14,755

 

 

 

15,597

 

Total current assets  

 

601,232

 

 

 

592,947

 

 

 

541,339

 


 
 
   
PROPERTY AND EQUIPMENT, net  

 

166,188

 

 

 

147,719

 

 

 

116,619

 

INTANGIBLE ASSETS, net  

 

12,506

 

 

 

13,582

 

 

 

16,865

 

GOODWILL  

 

91,849

 

 

 

91,849

 

 

 

91,849

 

DEFERRED TAX ASSETS  

 

3,339

 

 

 

2,660

 

 

 

2,836

 

OTHER ASSETS  

 

28,225

 

 

 

27,311

 

 

 

34,388

 

Total assets  

$

903,339

 

 

$

876,068

 

 

$

803,896

 


 
 
   
LIABILITIES AND STOCKHOLDERS’ EQUITY  
 
 
CURRENT LIABILITIES:  
 
 
Accounts payable  

$

34,712

 

 

$

43,623

 

 

$

27,433

 

Accrued payroll and related expenses  

 

14,806

 

 

 

12,892

 

 

 

13,408

 

Taxes payable  

 

902

 

 

 

379

 

 

 

584

 

Other accrued liabilities  

 

12,106

 

 

 

9,357

 

 

 

9,051

 

Total current liabilities  

 

62,526

 

 

 

66,251

 

 

 

50,476

 


 
 
   
LONG-TERM LIABILITIES:  
 
 
Income taxes payable  

 

15,588

 

 

 

15,497

 

 

 

14,617

 

Deferred tax liabilities  

 

75

 

 

 

87

 

 

 

164

 

Other liabilities  

 

14,739

 

 

 

14,436

 

 

 

14,093

 

Total liabilities  

 

92,928

 

 

 

96,271

 

 

 

79,350

 


 
 
   
STOCKHOLDERS' EQUITY:  
 
 
Common stock  

 

28

 

 

 

28

 

 

 

28

 

Additional paid-in capital  

 

190,920

 

 

 

181,192

 

 

 

152,117

 

Accumulated other comprehensive loss  

 

(2,163

)

 

 

(2,355

)

 

 

(3,130

)

Retained earnings  

 

621,626

 

 

 

600,932

 

 

 

575,531

 

Total stockholders' equity  

 

810,411

 

 

 

779,797

 

 

 

724,546

 

Total liabilities and stockholders' equity  

$

903,339

 

 

$

876,068

 

 

$

803,896

 

POWER INTEGRATIONS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

 
 
 
 
   

  Three Months Ended   Twelve Months Ended

  December 31, 2020   September 30, 2020   December 31, 2019   December 31, 2020   December 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:  
 
 
 
 
Net income  

$

27,278

 

 

$

14,820

 

 

$

158,291

 

 

$

71,176

 

 

$

193,468

 

Adjustments to reconcile net income to cash provided by operating activities  
 
 
 
 
Depreciation  

 

6,672

 

 

 

6,002

 

 

 

4,928

 

 

 

23,743

 

 

 

19,190

 

Amortization of intangible assets  

 

1,076

 

 

 

1,076

 

 

 

1,373

 

 

 

4,359

 

 

 

5,213

 

Loss on disposal of property and equipment  

 

214

 

 

 

19

 

 

 

35

 

 

 

525

 

 

 

249

 

Stock-based compensation expense  

 

8,863

 

 

 

9,358

 

 

 

8,338

 

 

 

30,912

 

 

 

23,347

 

Amortization of premium (accretion of discount) on marketable securities  

 

180

 

 

 

204

 

 

 

104

 

 

 

705

 

 

 

(192

)

Deferred income taxes  

 

(692

)

 

 

(1,179

)

 

 

2,741

 

 

 

(592

)

 

 

4,019

 

Increase (decrease) in accounts receivable allowances for credit losses  

 

(491

)

 

 

309

 

 

 

-

 

 

 

(336

)

 

 

57

 

Change in operating assets and liabilities:  
 
 
 
 
Accounts receivable  

 

(5,972

)

 

 

(16,884

)

 

 

1,545

 

 

 

(11,300

)

 

 

(13,259

)

Inventories  

 

1,927

 

 

 

(842

)

 

 

(1,670

)

 

 

(12,498

)

 

 

(9,523

)

Prepaid expenses and other assets  

 

3,020

 

 

 

2,041

 

 

 

902

 

 

 

9,153

 

 

 

(2,132

)

Accounts payable  

 

(668

)

 

 

504

 

 

 

(3,920

)

 

 

5,697

 

 

 

(6,556

)

Taxes payable and other accrued liabilities  

 

4,959

 

 

 

801

 

 

 

9,492

 

 

 

4,095

 

 

 

10,618

 

Net cash provided by operating activities  

 

46,366

 

 

 

16,229

 

 

 

182,159

 

 

 

125,639

 

 

 

224,499

 


 
 
 
 
   
CASH FLOWS FROM INVESTING ACTIVITIES:  
 
 
 
 
Purchases of property and equipment  

 

(34,860

)

 

 

(14,116

)

 

 

(9,789

)

 

 

(70,598

)

 

 

(24,114

)

Proceeds from sale of property and equipment  

 

320

 

 

 

-

 

 

 

-

 

 

 

651

 

 

 

-

 

Acquisition of technology licenses  

 

-

 

 

 

-

 

 

 

(675

)

 

 

-

 

 

 

(1,026

)

Purchases of marketable securities  

 

(43,637

)

 

 

(46,239

)

 

 

(71,952

)

 

 

(109,703

)

 

 

(207,240

)

Proceeds from sales and maturities of marketable securities  

 

64,390

 

 

 

28,033

 

 

 

4,150

 

 

 

151,385

 

 

 

70,334

 

Net cash used in investing activities  

 

(13,787

)

 

 

(32,322

)

 

 

(78,266

)

 

 

(28,265

)

 

 

(162,046

)


 
 
 
 
   
CASH FLOWS FROM FINANCING ACTIVITIES:  
 
 
 
 
Net proceeds from issuance of common stock  

 

865

 

 

 

3,364

 

 

 

225

 

 

 

10,527

 

 

 

9,908

 

Repurchase of common stock  

 

-

 

 

 

-

 

 

 

-

 

 

 

(2,636

)

 

 

(7,302

)

Payments of dividends to stockholders  

 

(6,584

)

 

 

(6,582

)

 

 

(5,590

)

 

 

(25,081

)

 

 

(20,506

)

Net cash used in financing activities  

 

(5,719

)

 

 

(3,218

)

 

 

(5,365

)

 

 

(17,190

)

 

 

(17,900

)


 
 
 
 
   
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS  

 

26,860

 

 

 

(19,311

)

 

 

98,528

 

 

 

80,184

 

 

 

44,553

 


 
 
 
 
   
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD  

 

232,014

 

 

 

251,325

 

 

 

80,162

 

 

 

178,690

 

 

 

134,137

 


 
 
 
 
   
CASH AND CASH EQUIVALENTS AT END OF PERIOD  

$

258,874

 

 

$

232,014

 

 

$

178,690

 

 

$

258,874

 

 

$

178,690

 

 

Contacts

Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
joe@power.com

EX-101.SCH 3 powi-20210202.xsd XBRL TAXONOMY EXTENSION SCHEMA 000100 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 powi-20210202_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Three Amendment Flag City Area Code Entity Address, City or Town Entity Address, Country Document Period End Date Entity Incorporation, State or Country Code Entity Information, Former Legal or Registered Name Local Phone Number Entity Address, Postal Zip Code Entity Address, State or Province Title of 12(b) Security No Trading Symbol Flag Trading Symbol Security Exchange Name Entity Registrant Name Entity Central Index Key Entity Tax Identification Number Document Fiscal Year Focus Document Fiscal Period Focus Document Type Written Communications Soliciting Material Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Entity File Number Entity Emerging Growth Company EX-101.PRE 5 powi-20210202_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 6 a52372604_htm.xml IDEA: XBRL DOCUMENT 0000833640 2021-02-02 2021-02-02 false 0000833640 8-K 2021-02-02 Power Integrations, Inc. DE 000-23441 94-3065014 5245 Hellyer Avenue San Jose CA 95138-1002 408 414-9200 false false false false Common Stock, $0.001 Par Value POWI NASDAQ false XML 7 R1.htm IDEA: XBRL DOCUMENT v3.20.4
Document and Entity Information
Feb. 02, 2021
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Feb. 02, 2021
Entity Registrant Name Power Integrations, Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 000-23441
Entity Tax Identification Number 94-3065014
Entity Address, Address Line One 5245 Hellyer Avenue
Entity Address, City or Town San Jose
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95138-1002
City Area Code 408
Local Phone Number 414-9200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000833640
Title of 12(b) Security Common Stock, $0.001 Par Value
Trading Symbol POWI
Security Exchange Name NASDAQ
EXCEL 8 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 9 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 10 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 11 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.4 html 1 95 1 false 0 0 false 0 false false R1.htm 000100 - Document - Document and Entity Information Sheet http://power.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports a52372604.htm a52372604ex99_1.htm powi-20210202.xsd powi-20210202_lab.xml powi-20210202_pre.xml http://xbrl.sec.gov/dei/2019-01-31 true false JSON 13 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "a52372604.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "definitionLink": { "remote": [ "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-eedm-def-2019-01-31.xml", "http://xbrl.fasb.org/srt/2019/elts/srt-eedm1-def-2019-01-31.xml" ] }, "inline": { "local": [ "a52372604.htm" ] }, "labelLink": { "local": [ "powi-20210202_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml" ] }, "presentationLink": { "local": [ "powi-20210202_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml" ] }, "schema": { "local": [ "powi-20210202.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd", "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-roles-2019-01-31.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd", "https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd", "https://xbrl.sec.gov/currency/2019/currency-2019-01-31.xsd", "https://xbrl.sec.gov/exch/2019/exch-2019-01-31.xsd", "https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd", "https://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd", "https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd", "http://www.xbrl.org/2004/ref-2004-08-10.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 30, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2019-01-31": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 95, "memberCustom": 0, "memberStandard": 0, "nsprefix": "powi", "nsuri": "http://power.com/20210202", "report": { "R1": { "firstAnchor": { "ancestors": [ "div", "div", "body", "html" ], "baseRef": "a52372604.htm", "contextRef": "c20210202to20210202", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "000100 - Document - Document and Entity Information", "role": "http://power.com/role/DocumentAndEntityInformation", "shortName": "Document and Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "div", "div", "body", "html" ], "baseRef": "a52372604.htm", "contextRef": "c20210202to20210202", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "xbrltype": "stringItemType" }, "dei_DocumentFiscalPeriodFocus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.", "label": "Document Fiscal Period Focus" } } }, "localname": "DocumentFiscalPeriodFocus", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "fiscalPeriodItemType" }, "dei_DocumentFiscalYearFocus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.", "label": "Document Fiscal Year Focus" } } }, "localname": "DocumentFiscalYearFocus", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "gYearItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.", "label": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine3": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 3 such as an Office Park", "label": "Entity Address, Address Line Three" } } }, "localname": "EntityAddressAddressLine3", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCountry": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "ISO 3166-1 alpha-2 country code.", "label": "Entity Address, Country" } } }, "localname": "EntityAddressCountry", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "countryCodeItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityInformationFormerLegalOrRegisteredName": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Former Legal or Registered Name of an entity", "label": "Entity Information, Former Legal or Registered Name" } } }, "localname": "EntityInformationFormerLegalOrRegisteredName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_NoTradingSymbolFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a security having no trading symbol.", "label": "No Trading Symbol Flag" } } }, "localname": "NoTradingSymbolFlag", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://power.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } ZIP 14 0001157523-21-000125-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001157523-21-000125-xbrl.zip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end