XML 66 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Segment Information

16.  SEGMENT INFORMATION

The Company has organized its business segments according to its key product lines. The Brick Business Unit segment (“BBU”) designs, develops, manufactures and markets the Company’s modular power converters and configurable products, and also includes the operations of the Company’s Westcor division, the six entities comprising Vicor Custom Power, and the BBU operations of VJCL. The VI Chip segment includes VI Chip Corporation, which designs, develops, manufactures and markets the Company’s factorized power architecture (“FPA”) products. The VI Chip segment also includes the VI Chip business conducted through VJCL. The Picor segment includes Picor Corporation, which designs, develops, manufactures and markets integrated circuits and related products for use in a variety of power management and power system applications. Picor develops these products to be sold as part of Vicor’s products or to third parties for separate applications.

The Company’s chief operating decision maker evaluates performance and allocates resources based on segment revenues and segment operating income (loss). The operating income (loss) for each segment includes selling, general and administrative and research and development expenses directly attributable to the segment. Certain of the Company’s indirect overhead costs, which include corporate selling, general and administrative expenses, are allocated among the segments based upon an estimate of costs associated with each segment. Assets allocated to each segment are based upon specific identification of such assets, which include accounts receivable, inventories, fixed assets and certain other assets. The Corporate segment consists of those operations and assets shared by all segments. The costs of certain centralized executive and administrative functions are recorded in this segment, as are certain shared assets, most notably cash and cash equivalents, deferred tax assets, long-term investments, the Company’s facilities in Massachusetts, real estate and other assets. The Company’s accounting policies and method of presentation for segments are consistent with that used throughout the Consolidated Financial Statements.

The following table provides significant segment financial data as of and for the years ended December 31 (in thousands):

 

     BBU      VI Chip     Picor     Corporate     Eliminations     Total  
                              (1)        

2013:

              

Net revenues

    $ 163,013      $ 35,333     $ 10,416     $ —      $ (9,602 )    $ 199,160  

Income (loss) from operations

      12,062        (28,204 )      (3,326 )      (999 )      —        (20,467 ) 

Total assets

      126,585        21,370       4,308       81,364       (67,987 )      165,640  

Depreciation and amortization

      6,185        3,232       407       184       —        10,008  

2012:

              

Net revenues

    $ 179,919      $ 38,083     $ 9,724     $ —      $ (9,219 )    $ 218,507  

Income (loss) from operations

      28,114        (27,409 )      (2,786 )      (704 )      —        (2,785 ) 

Total assets

      97,507        21,105       5,365       119,007       (40,403 )      202,581  

Depreciation and amortization

      4,958        3,568       414       1,483       —        10,423  

2011:

              

Net revenues

    $ 194,830      $ 55,154     $ 13,183     $ —      $ (10,199 )    $ 252,968  

Income (loss) from operations

      31,938        (16,294 )      (1,239 )      (719 )      —        13,686  

Total assets

      82,096        30,701       7,098       119,231       (30,985 )      208,141  

Depreciation and amortization

      5,503        3,570       458       1,474       —        11,005  

 

(1) The elimination for net revenues is principally related to inter-segment revenues of Picor to BBU and VI Chip and for inter-segment revenues of VI Chip to BBU. The elimination for total assets is principally related to inter-segment accounts receivable due to BBU for the funding of VI Chip and Picor operations.