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Segment and Geographic Data | 12 Months Ended
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Dec. 31, 2013
Segment and Geographic Data [Abstract] |
Segment and Geographic Data | Note 15 –Segment and Geographic Data Vishay operates, and its chief operating decision maker makes strategic and operating decisions with regards to assessing performance and allocating resources based on, five reporting segments: MOSFETs, Diodes, Optoelectronic Components, Resistors & Inductors, and Capacitors. The Company evaluates business segment performance on operating income, exclusive of certain items ("segment operating income"). Only dedicated, direct selling, general, and administrative expenses of the segments are included in the calculation of segment operating income. The Company's calculation of segment operating income excludes such selling, general, and administrative costs as global operations, sales and marketing, information systems, finance and administration groups, as well as restructuring and severance costs, executive compensation charges (credits), material gains and losses on sales of property, 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. The Company has also disclosed certain additional items not used to evaluate segment performance. In some cases, the items are regularly provided to the chief operating decision maker and are required to be disclosed by GAAP. Additionally, the additional segment disclosures may provide insight to the Company's future profitability by reportable segment. Note 15 –Segment and Geographic Data (continued) The following tables set forth business segment information:
|  | MOSFETs |  |  | Diodes |  |  | Optoelectronic Components |  |  | Resistors & Inductors |  |  | Capacitors |  |  | Corporate / Other |  |  | Total |
Year ended December 31, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product sales |  | $ | 449,299 |  |  | $ | 547,264 |  |  | $ | 228,194 |  |  | $ | 700,115 |  |  | $ | 439,745 |  |  | $ | - |  |  | $ | 2,364,617 |
Royalty revenues |  |  | 178 |  |  |  | - |  |  |  | 51 |  |  |  | 6,133 |  |  |  | - |  |  |  | - |  |  | $ | 6,362 |
Total revenue |  | $ | 449,477 |  |  | $ | 547,264 |  |  | $ | 228,245 |  |  | $ | 706,248 |  |  | $ | 439,745 |  |  | $ | - |  |  | $ | 2,370,979 |
Gross Margin |  | $ | 59,387 |  |  | $ | 121,231 |  |  | $ | 76,732 |  |  | $ | 221,851 |  |  | $ | 88,059 |  |  | $ | - |  |  | $ | 567,260 |
Depreciation expense |  | $ | 50,606 |  |  | $ | 37,305 |  |  | $ | 12,484 |  |  | $ | 31,998 |  |  | $ | 21,596 |  |  | $ | 1,075 |  |  | $ | 155,064 |
Interest expense (income) |  |  | - |  |  |  | 54 |  |  |  | 122 |  |  |  | 79 |  |  |  | 28 |  |  |  | 22,847 |  |  | $ | 23,130 |
Capital expenditures |  |  | 41,869 |  |  |  | 44,431 |  |  |  | 18,310 |  |  |  | 32,515 |  |  |  | 13,052 |  |  |  | 2,900 |  |  | $ | 153,077 |
Total Assets as of December 31, 2013: |  | $ | 543,037 |  |  | $ | 788,121 |  |  | $ | 213,128 |  |  | $ | 843,685 |  |  | $ | 636,637 |  |  | $ | 212,531 |  |  | $ | 3,237,139 |
Year ended December 31, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product sales |  | $ | 433,436 |  |  | $ | 496,744 |  |  | $ | 209,141 |  |  | $ | 635,488 |  |  | $ | 448,157 |  |  | $ | - |  |  | $ | 2,222,966 |
Royalty revenues |  |  | 246 |  |  |  | - |  |  |  | 53 |  |  |  | 6,832 |  |  |  | - |  |  |  | - |  |  | $ | 7,131 |
Total revenue |  | $ | 433,682 |  |  | $ | 496,744 |  |  | $ | 209,194 |  |  | $ | 642,320 |  |  | $ | 448,157 |  |  | $ | - |  |  | $ | 2,230,097 |
Gross Margin |  | $ | 56,694 |  |  | $ | 99,116 |  |  | $ | 67,943 |  |  | $ | 204,137 |  |  | $ | 98,783 |  |  | $ | - |  |  | $ | 526,673 |
Depreciation expense |  | $ | 49,124 |  |  | $ | 36,335 |  |  | $ | 11,917 |  |  | $ | 31,921 |  |  | $ | 23,354 |  |  | $ | 1,150 |  |  | $ | 153,801 |
Interest expense (income) |  |  | - |  |  |  | 64 |  |  |  | 140 |  |  |  | 543 |  |  |  | 52 |  |  |  | 21,805 |  |  | $ | 22,604 |
Capital expenditures |  |  | 49,201 |  |  |  | 30,025 |  |  |  | 16,759 |  |  |  | 35,878 |  |  |  | 15,531 |  |  |  | 2,897 |  |  | $ | 150,291 |
Total Assets as of December 31, 2012: |  | $ | 625,597 |  |  | $ | 670,811 |  |  | $ | 199,385 |  |  | $ | 760,257 |  |  | $ | 587,586 |  |  | $ | 172,641 |  |  | $ | 3,016,277 |
Year ended December 31, 2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product sales |  | $ | 537,783 |  |  | $ | 607,493 |  |  | $ | 229,814 |  |  | $ | 634,490 |  |  | $ | 577,816 |  |  | $ | - |  |  | $ | 2,587,396 |
Royalty revenues |  |  | 197 |  |  |  | - |  |  |  | 72 |  |  |  | 6,364 |  |  |  | - |  |  |  | - |  |  | $ | 6,633 |
Total revenue |  | $ | 537,980 |  |  | $ | 607,493 |  |  | $ | 229,886 |  |  | $ | 640,854 |  |  | $ | 577,816 |  |  | $ | - |  |  | $ | 2,594,029 |
Gross Margin |  | $ | 125,498 |  |  | $ | 143,876 |  |  | $ | 74,772 |  |  | $ | 213,997 |  |  | $ | 161,843 |  |  | $ | - |  |  | $ | 719,986 |
Depreciation expense |  | $ | 53,808 |  |  | $ | 39,577 |  |  | $ | 12,384 |  |  | $ | 32,039 |  |  | $ | 25,979 |  |  | $ | 1,235 |  |  | $ | 165,022 |
Interest expense (income) |  |  | 12 |  |  |  | - |  |  |  | - |  |  |  | 223 |  |  |  | 223 |  |  |  | 18,819 |  |  | $ | 19,277 |
Capital expenditures |  |  | 61,520 |  |  |  | 39,444 |  |  |  | 15,442 |  |  |  | 28,751 |  |  |  | 19,676 |  |  |  | 3,808 |  |  | $ | 168,641 |
Total Assets as of December 31, 2011: |  | $ | 646,660 |  |  | $ | 682,017 |  |  | $ | 163,486 |  |  | $ | 609,556 |  |  | $ | 672,049 |  |  | $ | 219,962 |  |  | $ | 2,993,730 |
Note 15 –Segment and Geographic Data (continued)
|  | Years ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Operating margin reconciliation: |  |  |  |  |  |  |  |  |
MOSFETs |  | $ | 19,140 |  |  | $ | 17,198 |  |  | $ | 85,336 |
Diodes |  |  | 96,581 |  |  |  | 75,733 |  |  |  | 118,111 |
Optoelectronic Components |  |  | 62,259 |  |  |  | 54,632 |  |  |  | 60,492 |
Resistors & Inductors |  |  | 186,583 |  |  |  | 172,129 |  |  |  | 185,327 |
Capacitors |  |  | 64,494 |  |  |  | 76,858 |  |  |  | 136,901 |
Restructuring and Severance Costs |  |  | (2,814 | ) |  |  | - |  |  |  | - |
Gain on Sale of Property |  |  | - |  |  |  | 12,153 |  |  |  | - |
Executive Compensation Credit (Charges) |  |  | 1,778 |  |  |  | - |  |  |  | (5,762 | )
Unallocated Selling, General, and Administrative Expenses |  |  | (230,339 | ) |  |  | (219,502 | ) |  |  | (233,804 | )
Consolidated Operating Income (Loss) |  | $ | 197,682 |  |  | $ | 189,201 |  |  | $ | 346,601 |
See Note 4 for restructuring and severance costs segment information. Note 15 –Segment and Geographic Data (continued) The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:
|  | Years ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
United States |  | $ | 591,082 |  |  | $ | 568,849 |  |  | $ | 363,847 |
Germany |  |  | 800,733 |  |  |  | 775,204 |  |  |  | 801,539 |
Other Europe |  |  | 89,348 |  |  |  | 61,236 |  |  |  | 175,639 |
Israel |  |  | 13,319 |  |  |  | 14,708 |  |  |  | 219,037 |
Asia |  |  | 876,497 |  |  |  | 810,100 |  |  |  | 1,033,967 |
|  | $ | 2,370,979 |  |  | $ | 2,230,097 |  |  | $ | 2,594,029 |
In the fourth fiscal quarter of 2011, Vishay made changes to its business model to streamline its sales process such that three main subsidiaries generate the majority of third-party sales. The following table summarizes property and equipment based on physical location:
|  | December 31, |
|  | 2013 |  |  | 2012 |
United States |  | $ | 123,812 |  |  | $ | 133,812 |
Germany |  |  | 130,854 |  |  |  | 121,957 |
Czech Republic |  |  | 47,002 |  |  |  | 51,620 |
Other Europe |  |  | 107,381 |  |  |  | 98,534 |
Israel |  |  | 138,741 |  |  |  | 140,994 |
People's Republic of China |  |  | 172,274 |  |  |  | 169,395 |
Republic of China (Taiwan) |  |  | 120,368 |  |  |  | 116,315 |
Other Asia |  |  | 84,388 |  |  |  | 80,304 |
Other |  |  | 1,799 |  |  |  | 1,621 |
|  | $ | 926,619 |  |  | $ | 914,552 |

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