XML 65 R52.htm IDEA: XBRL DOCUMENT v3.25.0.1
Business Segment, Geographic Area, Product Information and Significant Customer Information (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Reconciles Gross Profit By Reportable Segment To Income (Loss) Before Income Taxes

The following tables sets forth the details of gross profit by reportable segment and then reconciles to income (loss) before income taxes for each year presented:

 

 

Year Ended December 31, 2024

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Product

 

$

1,144

 

 

$

856

 

 

$

1,124

 

 

$

3,124

 

Services

 

 

240

 

 

 

165

 

 

 

57

 

 

 

462

 

Revenues by segment

 

 

1,384

 

 

 

1,021

 

 

 

1,181

 

 

 

3,586

 

Total cost of revenues (exclusive of amortization shown separately below)(1)

 

 

790

 

 

 

563

 

 

 

519

 

 

 

1,872

 

Segment gross profit

 

 

594

 

 

 

458

 

 

 

662

 

 

 

1,714

 

Segment gross profit percentage

 

 

42.9

%

 

 

44.9

%

 

 

56.1

%

 

 

47.8

%

Reconciliation to income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

 

 

 

 

 

271

 

Selling, general and administrative

 

 

 

 

 

 

 

 

 

 

 

674

 

Acquisition and integrated costs

 

 

 

 

 

 

 

 

 

 

 

9

 

Restructuring and other

 

 

 

 

 

 

 

 

 

 

 

6

 

Fees and expenses related to repricing of Term Loan Facility

 

 

 

 

 

 

 

 

 

 

 

5

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

245

 

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

6

 

Income from operations

 

 

 

 

 

 

 

 

 

 

 

498

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

(21

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

284

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

 

57

 

Other (income) expense, net

 

 

 

 

 

 

 

 

 

 

 

(2

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

180

 

 

 

 

 

Year Ended December 31, 2023

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Product

 

$

1,222

 

 

$

824

 

 

$

1,154

 

 

$

3,200

 

Services

 

 

218

 

 

 

152

 

 

 

52

 

 

 

422

 

Revenues by segment

 

 

1,440

 

 

 

976

 

 

 

1,206

 

 

 

3,622

 

Total cost of revenues (exclusive of amortization shown separately below)(1)

 

 

827

 

 

 

552

 

 

 

586

 

 

 

1,965

 

Segment gross profit

 

 

613

 

 

 

424

 

 

 

620

 

 

 

1,657

 

Segment gross profit percentage

 

 

42.6

%

 

 

43.4

%

 

 

51.4

%

 

 

45.7

%

Reconciliation to loss before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

 

 

 

 

 

288

 

Selling, general and administrative

 

 

 

 

 

 

 

 

 

 

 

675

 

Acquisition and integrated costs

 

 

 

 

 

 

 

 

 

 

 

16

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

20

 

Fees and expenses related to repricing of Term Loan Facility

 

 

 

 

 

 

 

 

 

 

 

2

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

295

 

Goodwill and intangible asset impairment

 

 

 

 

 

 

 

 

 

 

 

1,902

 

Gain on sale of long-lived assets

 

 

 

 

 

 

 

 

 

 

 

(2

)

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

15

 

Loss from operations

 

 

 

 

 

 

 

 

 

 

 

(1,554

)

Interest income

 

 

 

 

 

 

 

 

 

 

 

(17

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

356

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

 

 

 

8

 

Other (income) expense, net

 

 

 

 

 

 

 

 

 

 

 

27

 

Loss before income taxes

 

 

 

 

 

 

 

 

 

 

$

(1,928

)

 

 

 

Year Ended December 31, 2022

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Product

 

$

1,791

 

 

$

842

 

 

$

486

 

 

$

3,119

 

Services

 

 

246

 

 

 

151

 

 

 

31

 

 

 

428

 

Revenues by segment

 

 

2,037

 

 

 

993

 

 

 

517

 

 

 

3,547

 

Total cost of revenues (exclusive of amortization shown separately below)(1)

 

 

1,121

 

 

 

537

 

 

 

325

 

 

 

1,983

 

Segment gross profit

 

 

916

 

 

 

456

 

 

 

192

 

 

 

1,564

 

Segment gross profit percentage

 

 

45.0

%

 

 

45.9

%

 

 

37.1

%

 

 

44.1

%

Reconciliation to income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

 

 

 

 

 

241

 

Selling, general and administrative

 

 

 

 

 

 

 

 

 

 

 

488

 

Acquisition and integrated costs

 

 

 

 

 

 

 

 

 

 

 

52

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

10

 

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

146

 

Gain on sale of long-lived assets

 

 

 

 

 

 

 

 

 

 

 

(7

)

Unallocated corporate expenses

 

 

 

 

 

 

 

 

 

 

 

17

 

Income from operations

 

 

 

 

 

 

 

 

 

 

 

617

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

(4

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

177

 

Other (income) expense, net

 

 

 

 

 

 

 

 

 

 

 

11

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

433

 

 

(1)
The significant expense category and amount aligns with the segment-level information that is regularly provided to the CODM.
Schedule of Capital Expenditures, Depreciation and Amortization Expense of Intangible Assets by Reportable Segment

The following table set forth capital expenditures by reportable segment:

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

VSD

 

$

36

 

 

$

26

 

 

$

97

 

PSD

 

 

36

 

 

 

29

 

 

 

39

 

MSD

 

 

53

 

 

 

32

 

 

 

28

 

Total capital expenditures

 

$

125

 

 

$

87

 

 

$

164

 

The following table sets forth depreciation and amortization by reportable segment:

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

VSD

 

$

44

 

 

$

43

 

 

$

40

 

PSD

 

 

50

 

 

 

60

 

 

 

72

 

MSD

 

 

254

 

 

 

294

 

 

 

104

 

Total depreciation and amortization

 

$

348

 

 

$

397

 

 

$

216

 

Segment Assets by Reportable Segment

The following table sets forth segment assets by reportable segment:

 

Accounts
receivable, net

 

 

Inventories

 

 

Total

 

December 31, 2024

 

 

 

 

 

 

 

 

 

VSD

 

$

200

 

 

$

488

 

 

$

688

 

PSD

 

 

168

 

 

 

260

 

 

 

428

 

MSD

 

 

247

 

 

 

145

 

 

 

392

 

Total segment assets

 

$

615

 

 

$

893

 

 

$

1,508

 

 

 

 

Accounts
receivable, net

 

 

Inventories

 

 

Total

 

December 31, 2023

 

 

 

 

 

 

 

 

 

VSD

 

$

181

 

 

$

553

 

 

$

734

 

PSD

 

 

171

 

 

 

283

 

 

 

454

 

MSD

 

 

251

 

 

 

155

 

 

 

406

 

Total segment assets

 

$

603

 

 

$

991

 

 

$

1,594

 

 

 

 

Accounts
receivable, net

 

 

Inventories

 

 

Total

 

December 31, 2022

 

 

 

 

 

 

 

 

 

VSD

 

$

274

 

 

$

504

 

 

$

778

 

PSD

 

 

190

 

 

 

283

 

 

 

473

 

MSD

 

 

256

 

 

 

190

 

 

 

446

 

Total segment assets

 

$

720

 

 

$

977

 

 

$

1,697

 

 

Reconciles Total Segment Assets to Total Assets

The following tables reconciles total segment assets to total assets:

 

 

December 31,

 

 

 

2024

 

 

2023

 

Total segment assets

 

$

1,508

 

 

$

1,594

 

Cash and cash equivalents

 

 

714

 

 

 

875

 

Other current assets

 

 

252

 

 

 

227

 

Property, plant and equipment, net

 

 

771

 

 

 

784

 

Right-of-use assets, net

 

 

238

 

 

 

225

 

Goodwill and intangible assets, net

 

 

4,751

 

 

 

5,173

 

Other assets

 

 

356

 

 

 

240

 

Total assets

 

$

8,590

 

 

$

9,118

 

Schedule of Goodwill Associated with Reportable Segments

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

 

 

335

 

 

 

1,031

 

 

 

3,021

 

 

 

4,387

 

Movement of OSP product line

 

 

24

 

 

 

(24

)

 

 

 

 

 

 

Foreign currency translation and measurement period adjustments

 

 

(1

)

 

 

(4

)

 

 

(70

)

 

 

(75

)

Gross goodwill at December 31, 2024

 

 

358

 

 

 

1,003

 

 

 

2,951

 

 

 

4,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated goodwill impairment at December 31, 2023

 

 

(141

)

 

 

(390

)

 

 

(1,302

)

 

 

(1,833

)

Impairment charge

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated goodwill impairment at December 31, 2024

 

 

(141

)

 

 

(390

)

 

 

(1,302

)

 

 

(1,833

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill, net of accumulated impairment and foreign currency translation at December 31, 2024

 

$

217

 

 

$

613

 

 

$

1,649

 

 

$

2,479

 

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Reportable segment:

 

 

 

 

 

 

 

 

 

 

 

 

Gross goodwill at December 31, 2022

 

$

336

 

 

$

1,031

 

 

$

3,087

 

 

$

4,454

 

Foreign currency translation and measurement period adjustments

 

 

(1

)

 

 

 

 

 

(66

)

 

 

(67

)

Gross goodwill at December 31, 2023

 

 

335

 

 

 

1,031

 

 

 

3,021

 

 

 

4,387

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated goodwill impairment at December 31, 2022

 

 

(141

)

 

 

(5

)

 

 

 

 

 

(146

)

Impairment charge

 

 

 

 

 

(385

)

 

 

(1,302

)

 

 

(1,687

)

Accumulated goodwill impairment at December 31, 2023

 

 

(141

)

 

 

(390

)

 

 

(1,302

)

 

 

(1,833

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill, net of accumulated impairment and foreign currency translation at December 31, 2023

 

$

194

 

 

$

641

 

 

$

1,719

 

 

$

2,554

 

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 revenues.

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Net revenues:

 

 

 

 

 

 

 

 

 

United States

 

$

804

 

 

$

893

 

 

$

1,083

 

China

 

 

775

 

 

 

745

 

 

 

602

 

South Korea

 

 

358

 

 

 

359

 

 

 

445

 

Japan

 

 

250

 

 

 

280

 

 

 

263

 

Taiwan

 

 

234

 

 

 

248

 

 

 

231

 

Singapore

 

 

229

 

 

 

239

 

 

 

297

 

Other

 

 

936

 

 

 

858

 

 

 

626

 

 

$

3,586

 

 

$

3,622

 

 

$

3,547

 

Long-lived assets include property, plant and equipment, net, right-of-use assets, net and certain other assets.

 

 

December 31,

 

 

 

2024

 

 

2023

 

Long-lived assets:

 

 

 

 

 

 

United States

 

$

458

 

 

$

459

 

China

 

 

172

 

 

 

163

 

Germany

 

 

125

 

 

 

149

 

Other

 

 

349

 

 

 

326

 

 

$

1,104

 

 

$

1,097