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Segment Information | 9 Months Ended
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Oct. 01, 2016
Segment Information [Abstract] |
Segment Information | Note 11 – Segment Information Vishay is a global manufacturer and supplier of electronic components. 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. These segments represent groupings of product lines based on their functionality:
● |  | Metal oxide semiconductor field-effect transistors ("MOSFETs") function as solid-state switches to control power.
● |  | Diodes route, regulate, and block radio frequency, analog, and power signals; protect systems from surges or electrostatic discharge damage; or provide electromagnetic interference filtering.
● |  | Optoelectronic components emit light, detect light, or do both.
● |  | Resistors and inductors both impede electric current. Resistors are basic components used in all forms of electronic circuitry to adjust and regulate levels of voltage and current. Inductors use an internal magnetic field to change alternating current phase and resist alternating current.
● |  | Capacitors store energy and discharge it when needed.
Vishay's reporting segments generate substantially all of their revenue from product sales to the industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and medical end markets. A small portion of revenues are from royalties. 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, goodwill and long-lived asset impairment charges, 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 also regularly evaluates gross profit by segment to assist in the analysis of consolidated gross profit. The Company considers segment operating income to be the more important metric because it more fully captures the business operations of the segments. The following tables set forth business segment information:
|  | MOSFETs |  |  | Diodes |  |  | Optoelectronic Components |  |  | Resistors & Inductors |  |  | Capacitors |  |  | Total |
Fiscal quarter ended October 1, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 101,687 |  |  | $ | 141,127 |  |  | $ | 72,801 |  |  | $ | 191,989 |  |  | $ | 84,299 |  |  | $ | 591,903 |
Royalty Revenues |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 52 |  |  |  | - |  |  | $ | 52 |
Total Revenue |  | $ | 101,687 |  |  | $ | 141,127 |  |  | $ | 72,801 |  |  | $ | 192,041 |  |  | $ | 84,299 |  |  | $ | 591,955 |
Gross Profit |  | $ | 16,443 |  |  | $ | 36,444 |  |  | $ | 24,250 |  |  | $ | 58,768 |  |  | $ | 17,996 |  |  | $ | 153,901 |
Segment Operating Income |  | $ | 7,493 |  |  | $ | 31,832 |  |  | $ | 20,340 |  |  | $ | 51,861 |  |  | $ | 13,210 |  |  | $ | 124,736 |
Fiscal quarter ended October 3, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 109,446 |  |  | $ | 123,922 |  |  | $ | 70,008 |  |  | $ | 172,995 |  |  | $ | 83,547 |  |  | $ | 559,918 |
Royalty Revenues |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 736 |  |  |  | - |  |  | $ | 736 |
Total Revenue |  | $ | 109,446 |  |  | $ | 123,922 |  |  | $ | 70,008 |  |  | $ | 173,731 |  |  | $ | 83,547 |  |  | $ | 560,654 |
Gross Profit |  | $ | 16,795 |  |  | $ | 27,508 |  |  | $ | 22,969 |  |  | $ | 49,843 |  |  | $ | 13,029 |  |  | $ | 130,144 |
Segment Operating Income |  | $ | 6,839 |  |  | $ | 21,628 |  |  | $ | 17,673 |  |  | $ | 41,404 |  |  | $ | 7,618 |  |  | $ | 95,162 |
Nine fiscal months ended October 1, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 304,839 |  |  | $ | 418,629 |  |  | $ | 203,635 |  |  | $ | 568,122 |  |  | $ | 257,175 |  |  | $ | 1,752,400 |
Royalty Revenues |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 212 |  |  |  | - |  |  | $ | 212 |
Total Revenue |  | $ | 304,839 |  |  | $ | 418,629 |  |  | $ | 203,635 |  |  | $ | 568,334 |  |  | $ | 257,175 |  |  | $ | 1,752,612 |
Gross Profit |  | $ | 40,914 |  |  | $ | 106,364 |  |  | $ | 65,049 |  |  | $ | 171,808 |  |  | $ | 53,203 |  |  | $ | 437,338 |
Segment Operating Income |  | $ | 12,671 |  |  | $ | 90,025 |  |  | $ | 49,838 |  |  | $ | 147,315 |  |  | $ | 37,145 |  |  | $ | 336,994 |
Nine fiscal months ended October 3, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Sales |  | $ | 322,553 |  |  | $ | 399,155 |  |  | $ | 211,610 |  |  | $ | 538,173 |  |  | $ | 270,474 |  |  | $ | 1,741,965 |
Royalty Revenues |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | 2,584 |  |  |  | - |  |  | $ | 2,595 |
Total Revenue |  | $ | 322,564 |  |  | $ | 399,155 |  |  | $ | 211,610 |  |  | $ | 540,757 |  |  | $ | 270,474 |  |  | $ | 1,744,560 |
Gross Profit |  | $ | 45,261 |  |  | $ | 88,998 |  |  | $ | 69,483 |  |  | $ | 162,034 |  |  | $ | 50,888 |  |  | $ | 416,664 |
Segment Operating Income |  | $ | 16,506 |  |  | $ | 70,641 |  |  | $ | 53,923 |  |  | $ | 135,399 |  |  | $ | 33,968 |  |  | $ | 310,437 |
|  | Fiscal quarters ended |  |  | Nine fiscal months ended |
|  | October 1, 2016 |  |  | October 3, 2015 |  |  | October 1, 2016 |  |  | October 3, 2015 |
Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |
Segment Operating Income |  | $ | 124,736 |  |  | $ | 95,162 |  |  | $ | 336,994 |  |  | $ | 310,437 |
Restructuring and Severance Costs |  |  | (1,197 | ) |  |  | (2,324 | ) |  |  | (12,139 | ) |  |  | (9,394 | )
Impairment of intangible assets |  |  | (1,559 | ) |  |  | (57,600 | ) |  |  | (1,559 | ) |  |  | (57,600 | )
Impairment of goodwill |  |  | - |  |  |  | (5,380 | ) |  |  | - |  |  |  | (5,380 | )
Unallocated Selling, General, and Administrative Expenses |  |  | (64,751 | ) |  |  | (54,013 | ) |  |  | (176,111 | ) |  |  | (170,490 | )
Consolidated Operating Income |  | $ | 57,229 |  |  | $ | (24,155 | ) |  | $ | 147,185 |  |  | $ | 67,573 |
Unallocated Other Income (Expense) |  |  | (6,545 | ) |  |  | (8,787 | ) |  |  | (11,649 | ) |  |  | (17,264 | )
Consolidated Income (Loss) Before Taxes |  | $ | 50,684 |  |  | $ | (32,942 | ) |  | $ | 135,536 |  |  | $ | 50,309 |

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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 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: 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=68060357&loc=d3e9038-108599 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=68060357&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 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: 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=68060357&loc=d3e8380-108599 Reference 6: 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=68060357&loc=d3e8933-108599 Reference 7: 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=68060357&loc=d3e8844-108599 Reference 8: 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=68060357&loc=d3e8984-108599 Reference 9: 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=68060357&loc=d3e9031-108599 Reference 10: 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=68060357&loc=d3e9054-108599 Reference 11: 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=68060357&loc=d3e8538-108599 Reference 12: 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=68060357&loc=d3e8864-108599 Reference 13: 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=68060357&loc=d3e8924-108599 Reference 14: 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=68060357&loc=d3e8906-108599 + Details
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