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Segment Information (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Summary of Financial Information for Reportable Segments
Summarized financial information for the Company’s reportable segments is shown in the following tables for the years ended December 31, 2024, 2023 and 2022:
2024
(In thousands)MSAPSInter-segmentTotal
Net sales$1,400,082 $1,850,199 $(9,073)$3,241,208 
Cost of sales769,182 994,380 (9,073)1,754,489 
Operating expenses344,680 359,688 — 704,368 
Segment profit$286,220 $496,131 $— $782,351 

2023
(In thousands)MSAPSInter-segmentTotal
Net sales$1,689,467 $1,846,596 $(12,137)$3,523,926 
Cost of sales1,060,639 977,819 (12,137)2,026,321 
Operating expenses332,453 337,329 — 669,782 
Segment profit$296,375 $531,448 $— $827,823 

2022
(In thousands)MSAPSInter-segmentTotal
Net sales$1,380,208 $1,913,985 $(12,160)$3,282,033 
Cost of sales892,801 1,004,979 (12,160)1,885,620 
Operating expenses268,218 313,793 — 582,011 
Segment profit$219,189 $595,213 $— $814,402 
Reconciliation of Total Segment Profit to Operating Income

The following table reconciles total segment profit to income before income tax expense (benefit) for the years ended December 31, 2024, 2023 and 2022:
(In thousands)202420232022
Total segment profit$782,351 $827,823 $814,402 
Less:
Amortization of intangibles190,119 214,477 143,953 
Unallocated general and administrative expenses58,310 114,188 190,468 
Operating income$533,922 $499,158 479,981 
Interest expense215,217 312,378 212,669 
Interest income(7,368)(11,257)(3,694)
Other expense, net4,021 25,367 23,926 
Income before income tax expense (benefit)$322,052 $172,670 $247,080 
Schedule Of Other Segment Information

The following tables summarize depreciation and capital expenditures for the Company’s reportable segments for the years ended December 31, 2024, 2023 and 2022:
(In thousands)202420232022
Depreciation:
MS$90,242 $95,373 $82,841 
APS97,878 77,310 52,530 
Total depreciation $188,120 $172,683 $135,371 
(In thousands)202420232022
Capital expenditures:
MS$86,694 $141,851 $151,331 
APS228,912 314,996 314,861 
Total capital expenditures$315,606 $456,847 $466,192 
Summary of Total Net Sales to External Customers

In the following tables, revenue is disaggregated by country or region based on the ship to location of the customer for the years ended December 31, 2024, 2023 and 2022:
2024
(In thousands)MSAPSInter-segmentTotal
North America$316,010 $364,718 $(9,073)$671,655 
Taiwan238,835 423,869 — 662,704 
South Korea202,555 216,195 — 418,750 
Japan128,537 180,857 — 309,394 
China256,966 414,253 — 671,219 
Europe115,755 159,733 — 275,488 
Southeast Asia141,424 90,574 — 231,998 
$1,400,082 $1,850,199 $(9,073)$3,241,208 
2023
(In thousands)MSAPSInter-segmentTotal
North America$540,347 $363,042 $(12,137)$891,252 
Taiwan231,982 358,651 — 590,633 
South Korea218,192 224,993 — 443,185 
Japan104,977 262,331 — 367,308 
China196,970 369,934 — 566,904 
Europe229,368 172,982 — 402,350 
Southeast Asia167,631 94,663 — 262,294 
$1,689,467 $1,846,596 $(12,137)$3,523,926 
2022
(In thousands)MSAPSInter-segmentTotal
North America$422,185 $385,634 $(12,160)$795,659 
Taiwan202,565 457,562 — 660,127 
South Korea162,601 251,476 — 414,077 
Japan107,239 242,763 — 350,002 
China198,022 303,934 — 501,956 
Europe150,914 174,101 — 325,015 
Southeast Asia136,682 98,515 — 235,197 
$1,380,208 $1,913,985 $(12,160)$3,282,033 
Summary of Property, Plant and Equipment Attributed to Significant Countries
The following table summarizes property, plant and equipment, net, attributed to significant countries for the years ended December 31, 2024, 2023 and 2022:
(In thousands)202420232022
Property, plant and equipment, net:
North America$876,767 $747,823 $776,913 
South Korea117,662 101,107 84,253 
Japan114,770 118,872 104,282 
Malaysia44,258 50,183 46,703 
China30,380 32,884 31,592 
Taiwan434,641 412,346 253,285 
Other4,448 4,828 96,309 
$1,622,926 $1,468,043 $1,393,337