XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Revenues
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenues
6.
Revenues
Revenue from the sale of Advanced Products represents the sum of third-party sales of the products sold under the Advanced Products line, which were sold under the former Picor and VI Chip operating segments during periods prior to the second quarter of 2019. Revenue from the sale of Brick Products represents the sum of third-party sales of the products sold under the Brick Products line, which were also sold under the former Brick Business Unit operating segment, inclusive of such sales of our Vicor Custom Power and Vicor Japan Company, Ltd. subsidiaries.
The following tables present the Company’s net revenues disaggregated by geography based on the location of the customer, by product line (in thousands):
 
     Three Months Ended September 30, 2020  
     Brick Products      Advanced Products      Total  
United States
    $ 16,905    $ 4,391    $ 21,296
Europe
      4,456      2,050      6,506
Asia Pacific
      25,878      23,926      49,804
All other
      454      52      506
  
 
 
     
 
 
     
 
 
  
   $ 47,693    $ 30,419    $ 78,112
  
 
 
     
 
 
     
 
 
  
 
     Nine Months Ended September 30, 2020  
     Brick Products      Advanced Products      Total  
United States
    $ 57,880    $ 17,205    $ 75,085
Europe
      18,451      5,218      23,669
Asia Pacific
      60,917      50,076      110,993
All other
      2,390      137      2,527
  
 
 
     
 
 
     
 
 
  
   $ 139,638    $ 72,636    $ 212,274
  
 
 
     
 
 
     
 
 
  
 
     Three Months Ended September 30, 2019  
     Brick Products      Advanced Products      Total  
United States
    $ 25,265    $ 4,290    $ 29,555
Europe
      5,577      889      6,466
Asia Pacific
      14,510      18,875      33,385
All other
      1,130      236      1,366
  
 
 
     
 
 
     
 
 
  
   $ 46,482    $ 24,290    $ 70,772
  
 
 
     
 
 
     
 
 
  
 
     Nine Months Ended September 30, 2019  
     Brick Products      Advanced Products      Total  
United States
    $ 73,289    $ 16,562    $ 89,851
Europe
      17,960      3,517      21,477
Asia Pacific
      46,908      37,618      84,526
All other
      2,955      1,043      3,998
  
 
 
     
 
 
     
 
 
  
   $ 141,112    $ 58,740    $ 199,852
  
 
 
     
 
 
     
 
 
  
The following tables present the Company’s net revenues disaggregated by the category of revenue, by product line (in thousands):
 
     Three Months Ended September 30, 2020  
     Brick Products      Advanced Products      Total  
Direct customers, contract manufacturers and
non-stocking
distributors
    $ 40,916    $ 27,422    $ 68,338
Stocking distributors, net of sales allowances
      6,661      1,463      8,124
Non-recurring
engineering
      116      1,499      1,615
Royalties
      —        17      17
Other
      —        18      18
  
 
 
     
 
 
     
 
 
  
   $ 47,693    $ 30,419    $ 78,112
  
 
 
     
 
 
     
 
 
  
 
     Nine Months Ended September 30, 2020  
     Brick Products      Advanced Products      Total  
Direct customers, contract manufacturers and
non-stocking
distributors
    $ 116,127    $ 62,233    $ 178,360
Stocking distributors, net of sales allowances
      23,097      6,101      29,198
Non-recurring
engineering
      414      4,231      4,645
Royalties
      —        17      17
Other
      —        54      54
  
 
 
     
 
 
     
 
 
  
   $ 139,638    $ 72,636    $ 212,274
  
 
 
     
 
 
     
 
 
  
 
     Three Months Ended September 30, 2019  
     Brick Products      Advanced Products      Total  
Direct customers, contract manufacturers and
non-stocking
distributors
    $ 39,705    $ 22,574    $ 62,279
Stocking distributors, net of sales allowances
      6,522      1,734      8,256
Non-recurring
engineering
      163      (36 )       127
Royalties
      92      —        92
Other
      —        18      18
  
 
 
     
 
 
     
 
 
  
   $ 46,482    $ 24,290    $ 70,772
  
 
 
     
 
 
     
 
 
  
     Nine Months Ended September 30, 2019  
     Brick Products      Advanced Products      Total  
Direct customers, contract manufacturers and
non-stocking
distributors
    $ 120,496    $ 49,524    $ 170,020
Stocking distributors, net of sales allowances
      19,750      7,817      27,567
Non-recurring
engineering
      762      1,319      2,081
Royalties
      104      24      128
Other
      —        56      56
  
 
 
     
 
 
     
 
 
  
   $ 141,112    $ 58,740    $ 199,852
  
 
 
     
 
 
     
 
 
  
The following table presents the changes in certain contract assets and (liabilities) (in thousands):
 
     September 30,
2020		      December 31,
2019		      Change  
Accounts receivable
    $ 41,136    $ 38,115    $ 3,021
Short-term deferred revenue and customer prepayments
      (8,061 )       (5,507 )       (2,554 ) 
Long-term deferred revenue
      (813 )       (1,054 )       241
Deferred expenses
      1,588      1,897      (309 ) 
Sales allowances
      (736 )       (741 )       5
The increase in accounts receivable was primarily due to an increase in net revenues of approximately $5,919,000 in September 2020 compared to December 2019.
Deferred expenses are included in Other current assets in the accompanying Condensed Consolidated Balance Sheets.
The Company records deferred revenue, which represents a contract liability, when cash payments are received or due in advance of performance under a contract with a customer. The Company recognized revenue of approximately $388,000 and $1,736,000 for the three and nine months ended September 30, 2020, respectively, and $23,000 and $53,000 for the three and nine months ended September 30, 2019, respectively, that was included in deferred revenue at the beginning of each respective period.