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Revenue from Contract with Customers
9 Months Ended
Dec. 23, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The Company generates revenue from the sale of magnetic sensor integrated circuits (“ICs”) and application-specific analog power semiconductors. The following tables summarize net sales disaggregated by application, by product and by geography for the three- and nine-month periods ended December 23, 2022 and December 24, 2021. The categorization of net sales by application is determined using various characteristics of the product and the application into which the Company’s product will be incorporated. The categorization of net sales by geography is determined based on the location to which the products are shipped.
Net sales by application:
Three-Month Period EndedNine-Month Period Ended
December 23,
2022
December 24,
2021
December 23,
2022
December 24,
2021
Automotive$170,107 $130,797 $477,154 $390,351 
Industrial51,014 31,903 139,330 98,533 
Other27,668 23,929 87,724 79,497 
Total net sales$248,789 $186,629 $704,208 $568,381 
Net sales by product:
Three-Month Period EndedNine-Month Period Ended
December 23,
2022
December 24,
2021
December 23,
2022
December 24,
2021
Power integrated circuits$94,513 $62,859 $272,500 $195,054 
Magnetic sensors and other154,276 123,770 431,708 373,327 
Total net sales$248,789 $186,629 $704,208 $568,381 
Net sales by geography:
Three-Month Period EndedNine-Month Period Ended
December 23,
2022
December 24,
2021
December 23,
2022
December 24,
2021
Americas:
United States$33,613 $26,228 $87,135 $80,854 
Other Americas6,473 4,921 20,204 16,697 
EMEA:
Europe39,650 29,891 115,693 97,108 
Asia:
Japan45,117 39,461 131,852 112,079 
Greater China64,305 48,696 182,624 142,158 
South Korea25,504 19,935 67,414 61,614 
Other Asia34,127 17,497 99,286 57,871 
Total net sales$248,789 $186,629 $704,208 $568,381 
The Company recognizes sales net of returns, credits issued, price protection adjustments and stock rotation rights. In addition, the Company recognizes expected credit losses on trade accounts receivable as bad debt expense in the unaudited statements of operations. At December 23, 2022 and March 25, 2022, these combined adjustments were $18,896 and $14,924, respectively, and were netted against trade accounts receivable in the unaudited condensed consolidated balance sheets. These amounts represent charges of $3,972 and $602 for the nine-month periods ended December 23, 2022 and December 24, 2021, respectively.
Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. The Company elected not to disclose the amount of unsatisfied performance obligations as these contracts have original expected durations of less than one year.