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Segment and Geographic Data (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment and Geographic Data [Abstract] |
Segment reporting information | The following tables set forth business segment information:
|  | MOSFETs |  |  | Diodes |  |  | Optoelectronic Components |  |  | Resistors |  |  | Inductors |  |  | Capacitors |  |  | Corporate / Other |  |  | Total |
Year ended December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 667,998 |  |  | $ | 709,416 |  |  | $ | 302,714 |  |  | $ | 752,554 |  |  | $ | 335,638 |  |  | $ | 472,167 |  |  | $ | - |  |  | $ | 3,240,487 |
Gross Profit |  |  | 189,959 |  |  |  | 168,365 |  |  |  | 100,737 |  |  |  | 215,853 |  |  |  | 107,358 |  |  |  | 105,641 |  |  |  | - |  |  | $ | 887,913 |
Segment Operating Income |  |  | 148,652 |  |  |  | 145,814 |  |  |  | 82,378 |  |  |  | 190,953 |  |  |  | 97,482 |  |  |  | 85,342 |  |  |  | - |  |  | $ | 750,621 |
Depreciation expense |  |  | 30,257 |  |  |  | 40,406 |  |  |  | 14,585 |  |  |  | 34,344 |  |  |  | 14,448 |  |  |  | 17,129 |  |  |  | 8,078 |  |  | $ | 159,247 |
Capital expenditures |  |  | 44,227 |  |  |  | 45,772 |  |  |  | 25,068 |  |  |  | 57,729 |  |  |  | 24,377 |  |  |  | 13,099 |  |  |  | 8,100 |  |  | $ | 218,372 |
Total Assets as of December 31, 2021: |  | $ | 503,937 |  |  | $ | 815,751 |  |  | $ | 377,815 |  |  | $ | 783,390 |  |  | $ | 355,353 |  |  | $ | 496,129 |  |  | $ | 210,882 |  |  | $ | 3,543,257 |
Year ended December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 501,380 |  |  | $ | 502,548 |  |  | $ | 236,616 |  |  | $ | 606,183 |  |  | $ | 293,629 |  |  | $ | 361,542 |  |  | $ | - |  |  | $ | 2,501,898 |
Gross Profit |  |  | 114,236 |  |  |  | 90,004 |  |  |  | 66,502 |  |  |  | 153,214 |  |  |  | 92,500 |  |  |  | 70,010 |  |  |  | (4,563 | ) |  | $ | 581,903 |
Segment Operating Income |  |  | 76,548 |  |  |  | 69,663 |  |  |  | 50,369 |  |  |  | 130,700 |  |  |  | 82,472 |  |  |  | 50,753 |  |  |  | (4,563 | ) |  | $ | 455,942 |
Depreciation expense |  |  | 30,835 |  |  |  | 39,380 |  |  |  | 16,003 |  |  |  | 32,531 |  |  |  | 13,821 |  |  |  | 17,349 |  |  |  | 8,198 |  |  | $ | 158,117 |
Capital expenditures |  |  | 18,621 |  |  |  | 31,960 |  |  |  | 12,873 |  |  |  | 21,298 |  |  |  | 20,730 |  |  |  | 11,198 |  |  |  | 6,919 |  |  | $ | 123,599 |
Total Assets as of December 31, 2020: |  | $ | 447,867 |  |  | $ | 704,606 |  |  | $ | 341,517 |  |  | $ | 693,251 |  |  | $ | 330,092 |  |  | $ | 438,906 |  |  | $ | 198,234 |  |  | $ | 3,154,473 |
Year ended December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 509,145 |  |  | $ | 557,143 |  |  | $ | 222,986 |  |  | $ | 657,192 |  |  | $ | 298,642 |  |  | $ | 423,197 |  |  | $ | - |  |  | $ | 2,668,305 |
Gross Profit |  |  | 126,026 |  |  |  | 113,647 |  |  |  | 53,463 |  |  |  | 186,707 |  |  |  | 96,893 |  |  |  | 94,464 |  |  |  | - |  |  | $ | 671,200 |
Segment Operating Income |  |  | 88,994 |  |  |  | 94,130 |  |  |  | 37,145 |  |  |  | 162,969 |  |  |  | 86,395 |  |  |  | 74,063 |  |  |  | - |  |  | $ | 543,696 |
Depreciation expense |  |  | 32,614 |  |  |  | 38,930 |  |  |  | 16,803 |  |  |  | 28,909 |  |  |  | 13,316 |  |  |  | 17,253 |  |  |  | 8,160 |  |  | $ | 155,985 |
Capital expenditures |  |  | 35,131 |  |  |  | 38,242 |  |  |  | 12,448 |  |  |  | 34,395 |  |  |  | 17,836 |  |  |  | 9,916 |  |  |  | 8,673 |  |  | $ | 156,641 |
Total Assets as of December 31, 2019: |  | $ | 404,412 |  |  | $ | 755,945 |  |  | $ | 328,871 |  |  | $ | 653,195 |  |  | $ | 334,791 |  |  | $ | 449,823 |  |  | $ | 193,738 |  |  | $ | 3,120,775 |
________________
Operating margin reconciliation |
|  | Years ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Reconciliation: |  |  |  |  |  |  |  |  |
Segment Operating Income |  | $ | 750,621 |  |  | $ | 455,942 |  |  | $ | 543,696 |
Restructuring and Severance Costs |  |  | - |  |  |  | (743 | ) |  |  | (24,139 | )
Impact of COVID-19 Pandemic on Selling, General, and Administrative Expenses |  |  | - |  |  |  | 1,451 |  |  |  | - |
Unallocated Selling, General, and Administrative Expenses |  |  | (282,819 | ) |  |  | (246,940 | ) |  |  | (257,127 | )
Consolidated Operating Income (Loss) |  | $ | 467,802 |  |  | $ | 209,710 |  |  | $ | 262,430 |
Unallocated Other Income (Expense) |  |  | (33,192 | ) |  |  | (51,382 | ) |  |  | (36,132 | )
Consolidated Income Before Taxes |  | $ | 434,610 |  |  | $ | 158,328 |  |  | $ | 226,298 |
Disaggregation of Revenue | The Company has a broad line of products that it sells to OEMs, EMS companies, and independent distributors. The distribution of sales by customer type is shown below:
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Distributors |  | $ | 1,902,499 |  |  | $ | 1,328,953 |  |  | $ | 1,393,412 |
OEMs |  |  | 1,138,569 |  |  |  | 1,003,090 |  |  |  | 1,082,701 |
EMS companies |  |  | 199,419 |  |  |  | 169,855 |  |  |  | 192,192 |
|  | $ | 3,240,487 |  |  | $ | 2,501,898 |  |  | $ | 2,668,305 |
Net revenues were attributable to customers in the following regions:
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Asia |  | $ | 1,392,267 |  |  | $ | 1,028,073 |  |  | $ | 965,030 |
Europe |  |  | 1,072,025 |  |  |  | 854,847 |  |  |  | 993,101 |
Americas |  |  | 776,195 |  |  |  | 618,978 |  |  |  | 710,174 |
|  | $ | 3,240,487 |  |  | $ | 2,501,898 |  |  | $ | 2,668,305 |
The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and medical end markets. Sales by end market are presented below:
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Industrial |  | $ | 1,269,150 |  |  | $ | 864,032 |  |  | $ | 946,118 |
Automotive |  |  | 994,039 |  |  |  | 796,853 |  |  |  | 830,876 |
Telecommunications |  |  | 100,651 |  |  |  | 109,001 |  |  |  | 170,088 |
Computing |  |  | 245,463 |  |  |  | 204,166 |  |  |  | 182,781 |
Consumer Products |  |  | 165,384 |  |  |  | 118,896 |  |  |  | 107,983 |
Power Supplies |  |  | 165,190 |  |  |  | 116,966 |  |  |  | 119,361 |
Military and Aerospace |  |  | 170,484 |  |  |  | 162,484 |  |  |  | 179,228 |
Medical |  |  | 130,126 |  |  |  | 129,500 |  |  |  | 131,870 |
|  | $ | 3,240,487 |  |  | $ | 2,501,898 |  |  | $ | 2,668,305 |
Revenues Based on Geographic Area | The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:
|  | Years ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
United States |  | $ | 750,862 |  |  | $ | 592,460 |  |  | $ | 686,985 |
Germany |  |  | 976,907 |  |  |  | 772,194 |  |  |  | 910,509 |
Other Europe |  |  | 134,773 |  |  |  | 103,475 |  |  |  | 113,473 |
Israel |  |  | 20,362 |  |  |  | 16,609 |  |  |  | 17,787 |
Asia |  |  | 1,357,583 |  |  |  | 1,017,160 |  |  |  | 939,551 |
|  | $ | 3,240,487 |  |  | $ | 2,501,898 |  |  | $ | 2,668,305 |
Property and Equipment Based on Geographic Area | The following table summarizes property and equipment based on physical location:
|  | December 31, |
|  | 2021 |  |  | 2020 |
United States |  | $ | 115,036 |  |  | $ | 95,570 |
Germany |  |  | 203,414 |  |  |  | 199,076 |
Other Europe |  |  | 110,859 |  |  |  | 118,604 |
Israel |  |  | 76,057 |  |  |  | 79,267 |
People's Republic of China |  |  | 218,721 |  |  |  | 201,848 |
Republic of China (Taiwan) |  |  | 168,165 |  |  |  | 167,177 |
Other Asia |  |  | 81,741 |  |  |  | 77,024 |
Other |  |  | 5,486 |  |  |  | 4,599 |
|  | $ | 979,479 |  |  | $ | 943,165 |

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