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Related Party Transactions | 9 Months Ended
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Sep. 28, 2019
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions As a result of the Company’s acquisition of IXYS, the Company has equity ownership in various investments that are accounted for under the equity method and recorded in investments in the Condensed Consolidated Balance Sheets. The following is a description of the investments and related party transactions. Powersem GmbH: The Company owns 45% of the outstanding equity of Powersem GmbH (“Powersem”), a module manufacturer based in Germany. For both the three months ended September 28, 2019 and September 29, 2018, the Company recorded revenues of $0.2 million from sales of products to Powersem for use as components in their products. For the nine months ended September 28, 2019 and September 29, 2018, the Company recorded revenues of $0.4 million and $0.6 million from sales of products to Powersem for use as components in their products, respectively. During the three months ended September 28, 2019 and September 29, 2018, the Company purchased $0.8 million and $1.3 million of products from Powersem, respectively. During the nine months ended September 28, 2019 and September 29, 2018, the Company purchased $2.4 million and $3.4 million of products from Powersem, respectively. As of September 28, 2019, the accounts receivable balance from Powersem was $0.1 million and the accounts payable balance to Powersem was $0.1 million. As of December 29, 2018, the trade receivable balance from Powersem was $0.1 million and the accounts payable balance to Powersem was $0.2 million. EB-Tech Co., Ltd.: The Company owns approximately 19% of the outstanding equity of EB Tech Co., Ltd. (“EB Tech”), a company with expertise in radiation technology based in South Korea. During both the three months ended September 28, 2019 and September 29, 2018, EB Tech rendered processing services for the Company totaling less than $0.1 million. During both the nine months ended September 28, 2019 and September 29, 2018, EB Tech rendered processing services for the Company totaling approximately $0.3 million. As of September 28, 2019 the Company's accounts payable balance to EB Tech was less than $0.1 million. As of December 29, 2018, the Company’s accounts payable balance to EB Tech was $0.1 million. Automated Technology (Phil), Inc.: The Company owns approximately 24% of the outstanding common shares of Automated Technology (Phil), Inc. (“ATEC”), a supplier located in the Philippines that provides assembly and test services. During the three months ended September 28, 2019 and September 29, 2018, ATEC rendered assembly and test services to the Company totaling approximately $1.7 million and $2.5 million, respectively. During the nine months ended September 28, 2019 and September 29, 2018, ATEC rendered assembly and test services to the Company totaling approximately $5.5 million and $7.7 million, respectively. As of September 28, 2019 the Company's accounts payable balance to ATEC was $0.2 million. As of December 29, 2018, the Company’s accounts payable balance to ATEC was $0.5 million. Additionally, the Company has certain cost method investments in VTOOL Ltd. and Securepush Ltd. with a total book value of $1.2 million as of September 28, 2019 where one member of the Company’s Board of Directors is currently an investor and a director of VTOOL Ltd. and Securepush Ltd. On March 25, 2019, the Company entered into a definitive agreement to sell the assets and liabilities of Microwave Technology, Inc. (“MWT”) resulting in a loss on disposal of $2.6 million reflected in Other income (expense), net in the Condensed Consolidated Statements of Net Income. The operations of Microwave Technology, Inc. were included in the Electronics segment. One member of the Company’s Board of Directors is the co-owner of a company that agreed to purchase MWT. This transaction closed on April 26, 2019.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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