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v3.23.1

Related Party Transactions | 3 Months Ended
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Apr. 01, 2023
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions The Company has equity ownership in various investments that are accounted for under the equity method. 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. 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. 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. One member of the Company's Board of Directors serves on the Board of Directors of ATEC.
|  | Three Months Ended April 1, 2023 |  | Three Months Ended April 2, 2022
(in millions) |  | Powersem | EB Tech | ATEC |  | Powersem | EB Tech | ATEC
Sales to related party |  | $ | 0.5 |  | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  | $ | — |
Purchase material/service from related party |  | $ | 1.0 |  | $ | 0.1 |  | $ | 2.7 |  |  | $ | 0.2 |  | $ | 0.1 |  | $ | 2.9 |
|  | April 1, 2023 |  | December 31, 2022
(in millions) |  | Powersem | EB Tech | ATEC |  | Powersem | EB Tech | ATEC
Accounts payable balance |  | $ | 0.6 |  | $ | — |  | $ | 2.0 |  |  | $ | — |  | $ | — |  | $ | 1.8 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI https://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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