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Note 3 - Revenue From Contracts With Customers | 6 Months Ended
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Jul. 03, 2021
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | Note 3 - Revenue from Contracts with Customers Disaggregation of revenue The following tables provide information about revenue from contracts with customers disaggregated by major class of revenue, revenue by channel, and by geographical market, based on ship-to location of the customer:
|  | Three Months Ended |  |  | Six Months Ended |
Major Class of Revenue |  | July 3, |  |  | June 27, |  |  | July 3, |  |  | June 27, |
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Product |  | $ | 122,536 |  |  |  | 97 | % |  | $ | 95,996 |  |  |  | 96 | % |  | $ | 234,128 |  |  |  | 97 | % |  | $ | 189,221 |  |  |  | 96 | %
Licensing and services |  |  | 3,369 |  |  |  | 3 | % |  |  | 4,593 |  |  |  | 4 | % |  |  | 7,493 |  |  |  | 3 | % |  |  | 8,684 |  |  |  | 4 | %
Total revenue |  | $ | 125,905 |  |  |  | 100 | % |  | $ | 100,589 |  |  |  | 100 | % |  | $ | 241,621 |  |  |  | 100 | % |  | $ | 197,905 |  |  |  | 100 | %
Revenue by Channel |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenue - Distributors |  | $ | 111,168 |  |  |  | 88 | % |  | $ | 85,152 |  |  |  | 85 | % |  | $ | 209,947 |  |  |  | 87 | % |  | $ | 160,607 |  |  |  | 81 | %
Product revenue - Direct |  |  | 11,368 |  |  |  | 9 | % |  |  | 10,844 |  |  |  | 11 | % |  |  | 24,181 |  |  |  | 10 | % |  |  | 28,614 |  |  |  | 15 | %
Licensing and services revenue |  |  | 3,369 |  |  |  | 3 | % |  |  | 4,593 |  |  |  | 4 | % |  |  | 7,493 |  |  |  | 3 | % |  |  | 8,684 |  |  |  | 4 | %
Total revenue |  | $ | 125,905 |  |  |  | 100 | % |  | $ | 100,589 |  |  |  | 100 | % |  | $ | 241,621 |  |  |  | 100 | % |  | $ | 197,905 |  |  |  | 100 | %
Revenue by Geographical Market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 11,672 |  |  |  | 9 | % |  | $ | 9,860 |  |  |  | 10 | % |  | $ | 20,782 |  |  |  | 9 | % |  | $ | 23,179 |  |  |  | 12 | %
Other Americas |  |  | 6,154 |  |  |  | 5 | % |  |  | 4,647 |  |  |  | 4 | % |  |  | 12,887 |  |  |  | 5 | % |  |  | 7,915 |  |  |  | 4 | %
Americas |  |  | 17,826 |  |  |  | 14 | % |  |  | 14,507 |  |  |  | 14 | % |  |  | 33,669 |  |  |  | 14 | % |  |  | 31,094 |  |  |  | 16 | %
China |  |  | 64,821 |  |  |  | 52 | % |  |  | 52,465 |  |  |  | 52 | % |  |  | 131,940 |  |  |  | 54 | % |  |  | 95,964 |  |  |  | 48 | %
Taiwan |  |  | 6,577 |  |  |  | 5 | % |  |  | 7,593 |  |  |  | 8 | % |  |  | 9,391 |  |  |  | 4 | % |  |  | 17,452 |  |  |  | 9 | %
Japan |  |  | 8,836 |  |  |  | 7 | % |  |  | 6,435 |  |  |  | 6 | % |  |  | 16,613 |  |  |  | 7 | % |  |  | 14,434 |  |  |  | 7 | %
Other Asia |  |  | 16,221 |  |  |  | 13 | % |  |  | 8,067 |  |  |  | 8 | % |  |  | 26,901 |  |  |  | 11 | % |  |  | 15,403 |  |  |  | 8 | %
Asia |  |  | 96,455 |  |  |  | 77 | % |  |  | 74,560 |  |  |  | 74 | % |  |  | 184,845 |  |  |  | 76 | % |  |  | 143,253 |  |  |  | 72 | %
Europe |  |  | 11,624 |  |  |  | 9 | % |  |  | 11,522 |  |  |  | 12 | % |  |  | 23,107 |  |  |  | 10 | % |  |  | 23,558 |  |  |  | 12 | %
Total revenue |  | $ | 125,905 |  |  |  | 100 | % |  | $ | 100,589 |  |  |  | 100 | % |  | $ | 241,621 |  |  |  | 100 | % |  | $ | 197,905 |  |  |  | 100 | %
Contract balances Our contract assets relate to our rights to consideration for licenses and royalties due to us as a member of the HDMI Founders consortium, with collection dependent on events other than the passage of time, such as collection of licenses and royalties from customers by the HDMI licensing agent. The balance results primarily from the amount of estimated revenue related to HDMI that we have recognized to date, but which has not yet been collected by the agent. Contract assets are included in Prepaid expenses and other current assets on our Consolidated Balance Sheets. The following table summarizes activity during the first six months of fiscal 2021:
(In thousands) |  |  |  |
Contract assets as of January 2, 2021 |  | $ | 5,611 |
Revenues recorded during the period |  |  | 7,191 |
Transferred to Accounts receivable or collected |  |  | (7,568 | )
Contract assets as of July 3, 2021 |  | $ | 5,234 |
Contract liabilities are included in Accrued expenses on our Consolidated Balance Sheets. The following table summarizes activity during the first six months of fiscal 2021:
(In thousands) |  |  |  |
Contract liabilities as of January 2, 2021 |  | $ | 3,068 |
Accruals for estimated future stock rotation and scrap returns |  |  | 3,550 |
Less: Release of accruals for recognized stock rotation and scrap returns |  |  | (1,831 | )
Contract liabilities as of July 3, 2021 |  | $ | 4,787 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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