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Business Segment and Geographic Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Net Revenues, Assets and Goodwill by Reportable Segment | The following table sets forth net revenues by reportable segment:
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
VSD |  | $ | 332 |  |  | $ | 304 |
PSD |  |  | 254 |  |  |  | 186 |
MSD |  |  | 282 |  |  |  | 304 |
|  | $ | 868 |  |  | $ | 794 |
The following table sets forth segment assets by reportable segment:
March 31, 2024 |  | Accounts receivable, net |  |  | Inventories |  |  | Total |
VSD |  | $ | 173 |  |  | $ | 541 |  |  | $ | 714 |
PSD |  |  | 172 |  |  |  | 275 |  |  |  | 447 |
MSD |  |  | 231 |  |  |  | 155 |  |  |  | 386 |
Total segment assets |  | $ | 576 |  |  | $ | 971 |  |  | $ | 1,547 |
December 31, 2023 |  | Accounts receivable, net |  |  | Inventories |  |  | Total |
VSD |  | $ | 181 |  |  | $ | 553 |  |  | $ | 734 |
PSD |  |  | 171 |  |  |  | 283 |  |  |  | 454 |
MSD |  |  | 251 |  |  |  | 155 |  |  |  | 406 |
Total segment assets |  | $ | 603 |  |  | $ | 991 |  |  | $ | 1,594 |
Goodwill associated with each of the Company’s reportable segments is as follows:
|  | VSD |  |  | PSD |  |  | MSD |  |  | Total |
Reportable segment: |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill, at December 31, 2023 |  | $ | 359 |  |  | $ | 1,007 |  |  | $ | 3,021 |  |  | $ | 4,387 |
Foreign currency translation |  |  | (1 | ) |  |  | (1 | ) |  |  | (41 | ) |  |  | (43 | )
Gross goodwill, at March 31, 2024 |  |  | 358 |  |  |  | 1,006 |  |  |  | 2,980 |  |  |  | 4,344 |
Accumulated goodwill impairment, at December 31, 2023 and March 31, 2024 |  |  | (141 | ) |  |  | (390 | ) |  |  | (1,302 | ) |  |  | (1,833 | )
Goodwill, net of accumulated impairment and foreign currency translation, at March 31, 2024 |  | $ | 217 |  |  | $ | 616 |  |  | $ | 1,678 |  |  | $ | 2,511 |
Schedule of Reconciles Gross Profit By Reportable Segment To Net Income (Loss) | The following table reconciles gross profit by reportable segment to net income (loss):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Gross profit by reportable segment: |  |  |  |  |  |
VSD |  | $ | 140 |  |  | $ | 113 |
PSD |  |  | 118 |  |  |  | 75 |
MSD |  |  | 157 |  |  |  | 147 |
Total gross profit by reportable segment |  |  | 415 |  |  |  | 335 |
Operating expenses: |  |  |  |  |  |
Research and development |  |  | 70 |  |  |  | 72 |
Selling, general and administrative |  |  | 170 |  |  |  | 174 |
Acquisition and integration costs |  |  | 1 |  |  |  | 6 |
Restructuring |  |  | 3 |  |  |  | 1 |
Fees and expenses related to amendments to the Term Loan Facility |  |  | 3 |  |  |  | — |
Amortization of intangible assets |  |  | 62 |  |  |  | 81 |
Income from operations |  |  | 106 |  |  |  | 1 |
Interest income |  |  | (6 | ) |  |  | (3 | )
Interest expense |  |  | 87 |  |  |  | 85 |
Loss on extinguishment of debt |  |  | 9 |  |  |  | — |
Other (income) expense, net |  |  | (3 | ) |  |  | (2 | )
Income (loss) before income taxes |  |  | 19 |  |  |  | (79 | )
Provision (benefit) for income taxes |  |  | 4 |  |  |  | (37 | )
Net income (loss) |  | $ | 15 |  |  | $ | (42 | )
Reconciles Total Segment Assets to Total Assets | The following table reconciles total segment assets to total assets:
|  | March 31, 2024 |  |  | December 31, 2023 |
Total segment assets |  | $ | 1,547 |  |  | $ | 1,594 |
Cash and cash equivalents and short-term investments |  |  | 846 |  |  |  | 875 |
Other current assets |  |  | 268 |  |  |  | 227 |
Property, plant and equipment, net |  |  | 766 |  |  |  | 784 |
Right-of-use assets, net |  |  | 227 |  |  |  | 225 |
Goodwill and intangible assets, net |  |  | 5,012 |  |  |  | 5,173 |
Other assets |  |  | 265 |  |  |  | 240 |
Total assets |  | $ | 8,931 |  |  | $ | 9,118 |
Schedule of Net Revenues and Long-Lived Assets by Geographic Regions | Intercompany sales between geographic areas are at tax transfer prices and have been eliminated from consolidated net revenues.
|  | Three Months Ended March 31, |
Net revenues: |  | 2024 |  |  | 2023 |
United States |  | $ | 308 |  |  | $ | 254 |
China |  |  | 157 |  |  |  | 147 |
Germany |  |  | 73 |  |  |  | 73 |
South Korea |  |  | 72 |  |  |  | 74 |
Japan |  |  | 49 |  |  |  | 50 |
Other |  |  | 209 |  |  |  | 196 |
|  | $ | 868 |  |  | $ | 794 |
Long-lived assets: |  | March 31, 2024 |  |  | December 31, 2023 |
United States |  | $ | 461 |  |  | $ | 459 |
China |  |  | 166 |  |  |  | 163 |
Germany |  |  | 141 |  |  |  | 149 |
Other |  |  | 317 |  |  |  | 326 |
|  | $ | 1,085 |  |  | $ | 1,097 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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