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Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Revenue, Major Customer [Line Items]  
Summary of Cumulative Effect of Adoption on Consolidated Statement of Operations
The following tables summarize the impacts of adopting the new revenue recognition guidance on certain components of the Company’s consolidated financial statements (in thousands):
 
a)
Consolidated Balance Sheet Items
 
 
 
As of December 31, 2018
 
 
 
As reported
 
 
Adjustments
 
 
Balances without
adoption of
Topic 606
 
Accounts receivable, net
 
$
43,673
 
 
$
(72
)
 
$
43,601
 
Inventories, net
 
 
47,370
 
 
 
(110
)
 
 
47,260
 
Total assets
 
 
221,068
 
 
 
(182
)
 
 
220,886
 
Income taxes payable
 
 
710
 
 
 
(59
)
 
 
651
 
Deferred revenue
 
 
5,069
 
 
 
5,768
 
 
 
10,837
 
Sales allowances
 
 
548
 
 
 
(483
)
 
 
65
 
Total liabilities
 
 
36,978
 
 
 
5,226
 
 
 
42,204
 
Retained earnings
 
 
129,000
 
 
 
(5,408
)
 
 
123,592
 
Total equity
 
 
184,090
 
 
 
(5,408
)
 
 
178,682
 
Total liabilities and equity
 
 
221,068
 
 
 
(182
)
 
 
220,886
 
 
b)
Consolidated Statement of Operations Items
 
 
 
Year Ended December 31, 2018
 
 
 
As reported
 
 
Adjustments
 
 
Balances without
adoption of
Topic 606
 
Net revenues
 
$
291,220
 
 
$
(3,946
)
 
$
287,274
 
Cost of revenues
 
 
152,249
 
 
 
(2,149
)
 
 
150,100
 
Gross margin
 
 
138,971
 
 
 
(1,797
)
 
 
137,174
 
Income before income taxes
 
 
32,933
 
 
 
(1,797
)
 
 
31,136
 
Provision for income taxes
 
 
1,087
 
 
 
(59
)
 
 
1,028
 
Consolidated net income
 
 
31,846
 
 
 
(1,738
)
 
 
30,108
 
Net income attributable to Vicor Corporation
 
 
31,725
 
 
 
(1,738
)
 
 
29,987
 
Summary of Net Revenues Disaggregated by Geography
 
The following table presents the Company’s net revenues disaggregated by geography based on the location of the customer, by reportable segment, 
(in thousands):
 
 
 
Year Ended December 31, 2018
 
 
 
BBU
 
 
VI Chip
 
 
Picor
 
 
Total
 
United States
 
$
77,995
 
 
$
30,118
 
 
$
2,666
 
 
$
110,779
 
Europe
 
 
23,484
 
 
 
3,883
 
 
 
322
 
 
 
27,689
 
Asia Pacific
 
 
80,097
 
 
 
47,174
 
 
 
19,807
 
 
 
147,078
 
All other
 
 
5,128
 
 
 
499
 
 
 
47
 
 
 
5,674
 
 
 
$
186,704
 
 
$
81,674
 
 
$
22,842
 
 
$
291,220
 
The following table presents the Company’s net revenues disaggregated by the category of revenue, by reportable segment, (in thousands):
 
 
Year Ended December 31, 2018
 
 
 
BBU
 
 
VI Chip
 
 
Picor
 
 
Total
 
Direct customers, contract manufacturers and non-stocking distributors
 
$
163,206
 
 
$
70,919
 
 
$
20,660
 
 
$
254,785
 
Stocking distributors, net of sales allowances
 
 
22,362
 
 
 
7,653
 
 
 
1,717
 
 
 
31,732
 
Non-recurring engineering
 
 
1,066
 
 
 
2,996
 
 
 
360
 
 
 
4,422
 
Royalties
 
 
70
 
 
 
70
 
 
 
70
 
 
 
210
 
Other
 
 
—
 
 
 
36
 
 
 
35
 
 
 
71
 
 
 
$
186,704
 
 
$
81,674
 
 
$
22,842
 
 
$
291,220
 
Computation Of Basic And Diluted Net Income (Loss) Per Share
The following table sets forth the computation of basic and diluted net income (loss) per share for the years ended December  31 (in thousands, except per share amounts):
  
 
 
2018
 
 
2017
 
 
2016
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Vicor Corporation
 
$
31,725
 
 
$
167
 
 
$
(6,247
)
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
Denominator for basic net income (loss) per share-weighted average shares (1)
 
 
39,872
 
 
 
39,228
 
 
 
38,842
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
 
 
 
 
Employee stock options (2)
 
 
857
 
 
 
705
 
 
 
—
 
Denominator for diluted net income (loss) per share-adjusted weighted-average shares and assumed conversions (3)
 
 
40,729
 
 
 
39,933
 
 
 
38,842
 
Basic net income (loss) per share
 
$
0.80
 
 
$
0.00
 
 
$
(0.16
)
Diluted net income (loss) per share
 
$
0.78
 
 
$
0.00
 
 
$
(0.16
)
 
 
(1)
Denominator represents weighted average number of Common Shares and Class B Common Shares outstanding.
 
 
(2)
Options to purchase 67,247, 53,913 and 1,696,222 shares of Common Stock in 2018, 2017, and 2016, respectively, were not included in the calculation of net income (loss) per share as the effect would have been antidilutive.
 
 
(3)
Denominator represents weighted average number of Common Shares and Class B Common Shares outstanding for the year, adjusted to include the dilutive effect, if any, of outstanding options.
Accounting Standards Update 2014-09 [Member]  
Revenue, Major Customer [Line Items]  
Summary of Changes in Certain Contract Assets and Liabilities
The following table presents the changes in certain contract assets and (liabilities) (in thousands):
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
Increase
(decrease)
 
Accounts receivable
 
$
43,673
 
 
$
34,487
 
 
$
9,186
 
Deferred revenue
 
 
(3,820
)
 
 
(5,015
)
 
 
1,195
 
Deferred expenses
 
 
501
 
 
 
859
 
 
 
(358
)
Customer prepayments
 
 
(1,250
)
 
 
(776
)
 
 
(474
)
Sales allowances
 
 
(548
)
 
 
—
 
 
 
(548
)