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Major Customers

12 Months Ended

Dec. 31, 2020

Note 10—Major Customers

The Company’s customers operate in industries that are, to a varying extent, subject to rapid technological change, vigorous competition and short product life cycles. Developments adverse to the electronics industry, the Company’s customers or their products could impact the Company’s overall credit risk.

The Company extends credit based on evaluation of its customers’ financial condition and generally does not require collateral or other security from its customers and would incur a loss equal to the carrying value of the accounts receivable if its customer failed to perform according to the terms of the credit arrangement.

Sales to the ten largest customers represented 41%, 38% and 44% of total sales for 2020, 2019 and 2018, respectively. Sales to our largest customers were as follows for the indicated periods:

	Year ended December 31,
(in thousands)	2020		2019		2018
Applied Materials, Inc.	$	241,522	$	*	$	*
International Business Machines Corporation	$	*	$	*	$	323,795

*	amount is less than 10% of total sales.

During 2020, net sales attributable to our largest customer were reported in the Americas and Asia reportable segments. During 2018, net sales attributable to our largest customer were reported in the Americas reportable segment.