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Note 3 - Revenue From Contracts With Customers
 9 Months Ended
Sep. 30, 2023
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 channel and by geographical market, based on ship-to location of our customer:

 

   

Three Months Ended

    

Nine Months Ended

  

Revenue by Channel

  

September 30,

    

October 1,

    

September 30,

    

October 1,

  

(In thousands)

  

2023

    

2022

    

2023

    

2022

  

Distributors

   $ 173,344       90 %   $ 154,417       90 %   $ 504,052       89 %   $ 433,535       89 %

Direct

     18,825       10 %     18,092       10 %     62,506       11 %     50,861       11 %

Total revenue

   $ 192,169       100 %   $ 172,509       100 %   $ 566,558       100 %   $ 484,396       100 %
                                                                 

Revenue by Geographical Market

                                                                

(In thousands)

                                                                

China

     64,114       34 %     75,933       44 %     175,670       31 %     232,099       48 %

Japan

     25,689       13 %     26,924       16 %     94,434       17 %     62,784       13 %

Other Asia

     27,532       14 %     20,003       12 %     72,009       12 %     55,449       11 %

Asia

     117,335       61 %     122,860       72 %     342,113       60 %     350,332       72 %

Americas

     33,209       17 %     23,154       13 %     107,780       19 %     66,976       14 %

Europe

     41,625       22 %     26,495       15 %     116,665       21 %     67,088       14 %

Total revenue

   $ 192,169       100 %   $ 172,509       100 %   $ 566,558       100 %   $ 484,396       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. 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 distributed to us by the HDMI licensing 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 nine months of fiscal 2023:

 

(In thousands)

        

Contract assets as of December 31, 2022

   $ 7,347  

Revenues recorded during the period

     9,377  

Transferred to Accounts receivable or collected

     (7,378 )

Contract assets as of September 30, 2023

   $ 9,346  

 

Contract liabilities are included in Accrued liabilities on our Consolidated Balance Sheets. The following table summarizes activity during the first nine months of fiscal 2023:

 

(In thousands)

        

Contract liabilities as of December 31, 2022

   $ 17,666  

Less: Product shipments from prepaid customer deposit

     (12,826 )

Accruals for estimated future stock rotation and scrap returns

     6,348  

Less: Release of accruals for recognized stock rotation and scrap returns

     (6,114 )

Contract liabilities as of September 30, 2023

   $ 5,074