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Concentration of Credit Risk, Significant Customers and Geographic Information | 3 Months Ended
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Mar. 31, 2022
Risks and Uncertainties [Abstract] |
Concentration of Credit Risk, Significant Customers and Geographic Information | Concentration of Credit Risk, Significant Customers and Geographic Information Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents and accounts receivable. Collateral is generally not required for customer receivables. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. Significant Customers The Company markets its products and services to manufacturers of a wide range of electronic devices (Note 1). The Company sells its products both directly to end-customers and through third-party distributors, both of which are referred to as the Company’s customers (Note 12). The Company makes periodic evaluations of the credit worthiness of its customers. Customers comprising greater than 10% of net revenues for each of the periods presented are as follows:
| Three Months Ended March 31, |  |  |  |  |  |
| 2022 |  | 2021 |  |  |  |  |  |  |  |  |  |
Percentage of total net revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Customer A (direct) | 16 | % |  | 15 | % |  |  |  |  |  |  |  |  |  |
Customer B (direct) | 11 | % |  | 12 | % |  |  |  |  |  |  |  |  |  |
Customer C (distributor) | 10 | % |  | 11 | % |  |  |  |  |  |  |  |  |  |
The following table presents balances that are 10% or greater of accounts receivable, based on the Company’s billings to its customers.
| March 31, |  | December 31, |  |  |  |
| 2022 |  | 2021 |  |  |  |  |  |
Percentage of gross accounts receivable |  |  |  |  |  |  |  |  |
Customer B (direct) | 12 | % |  | 14 | % |  |  |  |  |  |
Customer C (distributor) | 16 | % |  | * |  |  |  |  |  |
Customer D (direct) | 10 | % |  | 17 | % |  |  |  |  |  |
____________________________ * Represents less than 10% of the gross accounts receivable as of the respective period end. Significant Suppliers Suppliers comprising greater than 10% of total inventory purchases are as follows:
|  | Three Months Ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Vendor A |  | 27 | % |  | 45 | % |  |  |  |
Vendor B |  | 26 | % |  | 20 | % |  |  |  |
Vendor C |  | 12 | % |  | 11 | % |  |  |  |
Geographic Information The Company’s consolidated net revenues by geographic area based on ship-to location are as follows (in thousands):
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
| Amount |  | % of total net revenue |  | Amount |  | % of total net revenue |  |  |  |  |  |  |  |
Asia | $ | 211,665 |  |  | 80 | % |  | $ | 171,160 |  |  | 82 | % |  |  |  |  |  |  |  |
United States | 8,868 |  |  | 3 | % |  | 10,300 |  |  | 5 | % |  |  |  |  |  |  |  |
Rest of world | 43,394 |  |  | 17 | % |  | 27,899 |  |  | 13 | % |  |  |  |  |  |  |  |
Total | $ | 263,927 |  |  | 100 | % |  | $ | 209,359 |  |  | 100 | % |  |  |  |  |  |  |  |
The products shipped to individual countries or territories representing greater than 10% of net revenue for each of the periods presented are as follows:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Percentage of total net revenue |  |  |  |  |  |  |
Hong Kong | 38 | % |  | 37 | % |  |  |  |
China | 11 | % |  | 14 | % |  |  |  |
Vietnam | 13 | % |  | 12 | % |  |  |  |
The determination of which country a particular sale is allocated to is based on the destination of the product shipment. No other individual country accounted for more than 10% of net revenue during these periods. Although a large percentage of the Company’s products is shipped to Asia, and in particular, Hong Kong, China and Vietnam, the Company believes that a significant number of the systems designed by customers and incorporating the Company’s semiconductor products are subsequently sold outside Asia to Europe, Middle East, and Africa, or EMEA markets and North American markets. Long-lived assets, which consists of property and equipment, net, leased right-of-use assets, intangible assets, net, and goodwill by geographic area are as follows (in thousands):
|  | March 31, |  | December 31,
|  | 2022 |  | 2021
|  | Amount |  | % of total |  | Amount |  | % of total
United States |  | $ | 372,671 |  |  | 69 | % |  | $ | 382,650 |  |  | 70 | %
Singapore |  | 121,117 |  |  | 22 | % |  | 122,474 |  |  | 22 | %
Rest of world |  | 46,019 |  |  | 9 | % |  | 42,277 |  |  | 8 | %
Total |  | $ | 539,807 |  |  | 100 | % |  | $ | 547,401 |  |  | 100 | %

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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- References No definition available. + Details
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