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Earnings Per Share | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | Note 16 – Earnings Per Share Basic earnings per share is computed using the weighted average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted average number of common shares outstanding adjusted to include the potentially dilutive effect of restricted stock units (see Note 12), convertible debt instruments (see Note 6), and other potentially dilutive securities. The following table sets forth the computation of basic and diluted earnings per share attributable to Vishay stockholders (shares in thousands):
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |  |  |  |
Net earnings attributable to Vishay stockholders |  | $ | 428,810 |  |  | $ | 297,970 |  |  | $ | 122,923 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares |  |  | 143,176 |  |  |  | 144,796 |  |  |  | 144,641 |
Outstanding phantom stock units |  |  | 223 |  |  |  | 209 |  |  |  | 195 |
Adjusted weighted average shares - basic |  |  | 143,399 |  |  |  | 145,005 |  |  |  | 144,836 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units |  |  | 516 |  |  |  | 488 |  |  |  | 362 |
Convertible debt instruments |  |  | - |  |  |  | 2 |  |  |  | 30 |
Dilutive potential common shares |  |  | 516 |  |  |  | 490 |  |  |  | 392 |
Denominator for diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Adjusted weighted average shares - diluted |  |  | 143,915 |  |  |  | 145,495 |  |  |  | 145,228 |
Basic earnings per share attributable to Vishay stockholders |  | $ | 2.99 |  |  | $ | 2.05 |  |  | $ | 0.85 |
Diluted earnings per share attributable to Vishay stockholders |  | $ | 2.98 |  |  | $ | 2.05 |  |  | $ | 0.85 |
Diluted earnings per share for the years presented do not reflect the following weighted average potential common shares, as the effect would be antidilutive (in thousands):
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Convertible debt instruments: |  |  |  |  |  |  |  |  |
Convertible Senior Debentures, due 2041 |  |  | - |  |  |  | - |  |  |  | 100 |
Convertible Senior Notes, due 2025 |  |  | - |  |  |  | - |  |  |  | 17,062 |
Weighted average other |  |  | 251 |  |  |  | 279 |  |  |  | 341 |
If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in common stock. Accordingly, the notes are not anti-dilutive when the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

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