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Segment Information | 9 Months Ended
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Oct. 01, 2011
Segment Information [Abstract] |
Segment Information | Note 8 – Segment Information In preparation for the spin-off of VPG, which was completed on July 6, 2010, the Company realigned its reportable business segments structure in the second fiscal quarter of 2010 to be consistent with changes made to its management reporting. The changes made to management reporting included separating the former Semiconductors reporting segment into MOSFETs, Diodes, and Optoelectronic Components and separating the former Passive Components reporting segment into Resistors & Inductors, Capacitors, and Vishay Precision Group. The changes were necessary due to the former Passive Components segment no longer being comparable after the completion of the spin-off of VPG, the need for discrete information regarding VPG, and the increased interest of management and outside investors in more discrete financial information. Effective beginning in the second fiscal quarter of 2010, the chief operating decision maker began making strategic and operating decisions with regards to assessing performance and allocating resources based on this new segment structure. Following the completion of the spin-off in the third fiscal quarter of 2010, the Company has five reporting segments. The Company evaluates business segment performance on operating income, exclusive of certain items (“segment operating income”). Beginning in the second fiscal quarter of 2010, the Company changed its definition of segment operating income to exclude such costs as global operations, sales and marketing, information systems, finance and administration groups. These costs are managed by executives that report to the chief operating decision maker and were formerly included in segment operating income. Only dedicated, direct selling, general, and administrative expenses of the segments are included in the calculation of segment operating income. Additionally, management has always evaluated segment performance excluding items such as restructuring and severance costs, asset write-downs, goodwill and indefinite-lived intangible asset impairments, inventory write-downs, gains or losses on purchase commitments, and other items. Management believes that evaluating segment performance excluding such items is meaningful because it provides insight with respect to intrinsic operating results of the Company. These items represent reconciling items between segment operating income and consolidated operating income. Business segment assets are the owned or allocated assets used by each business. Until July 6, 2010, VPG was part of Vishay and its results of operations and cash flows are included in the amounts reported in these consolidated condensed financial statements for the nine fiscal months ended October 2, 2010. Excluding the non-recurring costs of the spin-off incurred by Vishay, VPG contributed $9,716,000 of income before taxes, $5,811,000 of net earnings attributable to Vishay stockholders, and $0.03 per diluted share attributable to Vishay stockholders to Vishay’s results for the nine fiscal months ended October 2, 2010. 24 The following table sets forth business segment information (in thousands):
|  | MOSFETs |  |  | Diodes |  |  | Optoelectronic Components |  |  | Resistors & Inductors |  |  | Capacitors |  |  | Vishay Precision Group |  |  | Total |
Fiscal quarter ended October 1, 2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 131,832 |  |  | $ | 150,993 |  |  | $ | 56,089 |  |  | $ | 155,273 |  |  | $ | 141,634 |  |  | $ | - |  |  | $ | 635,821 |
Royalty Revenues |  |  | 34 |  |  |  | - |  |  |  | 30 |  |  |  | 1,764 |  |  |  | - |  |  |  | - |  |  | $ | 1,828 |
Total Revenue |  | $ | 131,866 |  |  | $ | 150,993 |  |  | $ | 56,119 |  |  | $ | 157,037 |  |  | $ | 141,634 |  |  | $ | - |  |  | $ | 637,649 |
Gross Margin |  | $ | 27,260 |  |  | $ | 35,783 |  |  | $ | 17,350 |  |  | $ | 51,650 |  |  | $ | 35,434 |  |  | $ | - |  |  | $ | 167,477 |
Fiscal quarter ended October 2, 2010: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 181,820 |  |  | $ | 157,193 |  |  | $ | 56,836 |  |  | $ | 157,172 |  |  | $ | 139,916 |  |  | $ | - |  |  | $ | 692,937 |
Royalty Revenues |  |  | 145 |  |  |  | - |  |  |  | - |  |  |  | 1,283 |  |  |  | - |  |  |  | - |  |  | $ | 1,428 |
Total Revenue |  | $ | 181,965 |  |  | $ | 157,193 |  |  | $ | 56,836 |  |  | $ | 158,455 |  |  | $ | 139,916 |  |  | $ | - |  |  | $ | 694,365 |
Gross Margin |  | $ | 62,795 |  |  | $ | 40,017 |  |  | $ | 19,282 |  |  | $ | 55,907 |  |  | $ | 40,377 |  |  | $ | - |  |  | $ | 218,378 |
Nine fiscal months ended October 1, 2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 427,913 |  |  | $ | 480,023 |  |  | $ | 177,556 |  |  | $ | 494,622 |  |  | $ | 457,781 |  |  | $ | - |  |  | $ | 2,037,895 |
Royalty Revenues |  |  | 196 |  |  |  | - |  |  |  | 72 |  |  |  | 4,475 |  |  |  | - |  |  |  | - |  |  | $ | 4,743 |
Total Revenue |  | $ | 428,109 |  |  | $ | 480,023 |  |  | $ | 177,628 |  |  | $ | 499,097 |  |  | $ | 457,781 |  |  | $ | - |  |  | $ | 2,042,638 |
Gross Margin |  | $ | 109,510 |  |  | $ | 118,622 |  |  | $ | 59,259 |  |  | $ | 171,764 |  |  | $ | 135,175 |  |  | $ | - |  |  | $ | 594,330 |
Nine fiscal months ended October 2, 2010: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 462,651 |  |  | $ | 448,465 |  |  | $ | 172,889 |  |  | $ | 456,570 |  |  | $ | 390,593 |  |  | $ | 101,089 |  |  | $ | 2,032,257 |
Royalty Revenues |  |  | 193 |  |  |  | - |  |  |  | 60 |  |  |  | 3,970 |  |  |  | - |  |  |  | - |  |  | $ | 4,223 |
Total Revenue |  | $ | 462,844 |  |  | $ | 448,465 |  |  | $ | 172,949 |  |  | $ | 460,540 |  |  | $ | 390,593 |  |  | $ | 101,089 |  |  | $ | 2,036,480 |
Gross Margin |  | $ | 136,700 |  |  | $ | 103,528 |  |  | $ | 59,226 |  |  | $ | 162,713 |  |  | $ | 96,787 |  |  | $ | 37,030 |  |  | $ | 595,984 |
25
|  | Fiscal quarters ended |  |  | Nine fiscal months ended |
|  | October 1, 2011 |  |  | October 2, 2010 |  |  | October 1, 2011 |  |  | October 2, 2010 |
Operating margin reconciliation: |  |  |  |  |  |  |  |  |  |  |  |
MOSFETs |  | $ | 17,314 |  |  | $ | 53,839 |  |  | $ | 79,246 |  |  | $ | 109,993 |
Diodes |  |  | 29,220 |  |  |  | 34,363 |  |  |  | 99,228 |  |  |  | 86,319 |
Optoelectronic Components |  |  | 13,869 |  |  |  | 16,516 |  |  |  | 48,556 |  |  |  | 50,631 |
Resistors & Inductors |  |  | 44,917 |  |  |  | 48,604 |  |  |  | 150,778 |  |  |  | 142,341 |
Capacitors |  |  | 29,415 |  |  |  | 35,438 |  |  |  | 116,332 |  |  |  | 80,311 |
Vishay Precision Group |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 18,949 |
Unallocated Selling, General, and Administrative Expenses |  |  | (57,529 | ) |  |  | (57,857 | ) |  |  | (175,342 | ) |  |  | (191,189 | )
Executive Compensation Charges |  |  | (1,873 | ) |  |  | - |  |  |  | (5,762 | ) |  |  | - |
Consolidated Operating Income |  | $ | 75,333 |  |  | $ | 130,903 |  |  | $ | 313,036 |  |  | $ | 297,355 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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