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Revenue from Contracts with Customers | 9 Months Ended
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Dec. 29, 2023
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 3. Revenue from Contracts with Customers The following tables summarize net sales disaggregated by application, by product and by geography for the three- and nine-month periods ended December 29, 2023 and December 23, 2022. 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: During the preparation of the third quarter fiscal year 2024 interim condensed consolidated financial statements, the Company identified an immaterial error in the classification of net sales by application, whereby customer returns and sales allowances were incorrectly classified by application between Automotive, Industrial and Other in the prior periods. There was no impact to previously reported total net sales or net income in any of the periods. The Company assessed the materiality of the revision qualitatively and quantitatively and determined the revisions to be immaterial to the prior period interim fiscal year 2024, annual fiscal year 2023, and annual fiscal year 2022 consolidated financial statements. All prior period amounts have been revised in the tables below.
|  | Three-Month Period Ended |  |  | Nine-Month Period Ended |
|  | December 29, 2023 |  |  | December 23, 2022 |  |  | December 29, 2023 |  |  | December 23, 2022 |
Automotive |  | $ | 194,764 |  |  | $ | 164,719 |  |  | $ | 577,515 |  |  | $ | 467,959 |
Industrial |  |  | 45,949 |  |  |  | 53,737 |  |  |  | 180,021 |  |  |  | 146,797 |
Other |  |  | 14,271 |  |  |  | 30,333 |  |  |  | 51,250 |  |  |  | 89,452 |
Total net sales |  | $ | 254,984 |  |  | $ | 248,789 |  |  | $ | 808,786 |  |  | $ | 704,208 |
|  | Three-Month Period Ended |
|  | June 30, 2023 |  |  | September 29, 2023 |
Automotive |  | $ | 185,430 |  |  | $ | 197,321 |
Industrial |  |  | 73,110 |  |  |  | 60,962 |
Other |  |  | 19,753 |  |  |  | 17,226 |
Total net sales |  | $ | 278,293 |  |  | $ | 275,509 |
|  | Three-Month Period Ended |
|  | June 24, 2022 |  |  | September 22, 2022 |  |  | December 23, 2022 |  |  | March 31, 2023 |
Automotive |  | $ | 148,070 |  |  | $ | 155,170 |  |  | $ | 164,719 |  |  | $ | 178,802 |
Industrial |  |  | 42,718 |  |  |  | 50,342 |  |  |  | 53,737 |  |  |  | 61,807 |
Other |  |  | 26,965 |  |  |  | 32,154 |  |  |  | 30,333 |  |  |  | 28,836 |
Total net sales |  | $ | 217,753 |  |  | $ | 237,666 |  |  | $ | 248,789 |  |  | $ | 269,445 |
|  | Three-Month Period Ended |
|  | June 25, 2021 |  |  | September 24, 2021 |  |  | December 24, 2021 |  |  | March 25, 2022 |
Automotive |  | $ | 131,827 |  |  | $ | 124,435 |  |  | $ | 128,536 |  |  | $ | 137,997 |
Industrial |  |  | 31,190 |  |  |  | 38,785 |  |  |  | 34,669 |  |  |  | 38,622 |
Other |  |  | 25,125 |  |  |  | 30,390 |  |  |  | 23,424 |  |  |  | 23,674 |
Total net sales |  | $ | 188,142 |  |  | $ | 193,610 |  |  | $ | 186,629 |  |  | $ | 200,293 |
Net sales by product:
|  | Three-Month Period Ended |  |  | Nine-Month Period Ended |
|  | December 29, 2023 |  |  | December 23, 2022 |  |  | December 29, 2023 |  |  | December 23, 2022 |
Power integrated circuits |  | $ | 101,426 |  |  | $ | 94,513 |  |  | $ | 305,151 |  |  | $ | 272,500 |
Magnetic sensors |  |  | 153,558 |  |  |  | 154,276 |  |  |  | 503,635 |  |  |  | 431,708 |
Total net sales |  | $ | 254,984 |  |  | $ | 248,789 |  |  | $ | 808,786 |  |  | $ | 704,208 |
Net sales by geography:
|  | Three-Month Period Ended |  |  | Nine-Month Period Ended |
|  | December 29, 2023 |  |  | December 23, 2022 |  |  | December 29, 2023 |  |  | December 23, 2022 |
Americas: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 28,481 |  |  | $ | 33,613 |  |  | $ | 125,029 |  |  | $ | 87,135 |
Other Americas |  |  | 7,718 |  |  |  | 6,473 |  |  |  | 25,765 |  |  |  | 20,204 |
EMEA: |  |  |  |  |  |  |  |  |  |  |  |
Europe |  |  | 36,870 |  |  |  | 39,650 |  |  |  | 139,209 |  |  |  | 115,693 |
Asia: |  |  |  |  |  |  |  |  |  |  |  |
Greater China |  |  | 77,331 |  |  |  | 64,305 |  |  |  | 209,010 |  |  |  | 182,624 |
Japan |  |  | 42,250 |  |  |  | 45,117 |  |  |  | 131,105 |  |  |  | 131,852 |
South Korea |  |  | 27,710 |  |  |  | 25,504 |  |  |  | 86,277 |  |  |  | 67,414 |
Other Asia |  |  | 34,624 |  |  |  | 34,127 |  |  |  | 92,391 |  |  |  | 99,286 |
Total net sales |  | $ | 254,984 |  |  | $ | 248,789 |  |  | $ | 808,786 |  |  | $ | 704,208 |
The Company recognizes sales net of returns and sales allowances, which are comprised of credits issued, price protection adjustments and stock rotation rights. At December 29, 2023 and March 31, 2023, the liability associated with returns and sales allowances, inclusive of related party adjustments, was $35,342 and $30,571, respectively, and was netted against trade accounts receivable in the unaudited condensed consolidated balance sheets. 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.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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