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Segment And Geographic Information | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Segment And Geographic Information | Note 16 – Segment and Geographic Information The Company currently has manufacturing facilities in the Americas, Asia and Europe to serve its customers. The Company is operated and managed geographically, and management evaluates performance and allocates the Company’s resources on a geographic basis. Intersegment sales are generally recorded at prices that approximate arm’s length transactions. Operating segments’ measure of profitability is based on income from operations. Corporate and intersegment eliminations includes (1) corporate expenses not allocated to the Company’s three reporting segments, which are primarily general and administrative expenses such as corporate employee payroll and benefit costs and corporate facility costs, and (2) income from operations on intersegment sales between reporting segments. Corporate functions include legal, finance, tax, treasury, information technology, risk management, human resources, business development and other administrative functions. The accounting policies for the reportable operating segments are the same as for the Company taken as a whole. The Company has three reportable operating segments: Americas, Asia, and Europe. Information about operating segments is as follows:
|  | Three Months Ended March 31, |
(in thousands) |  | 2023 |  |  | 2022 |
Net sales: |  |  |  |  |  |
Americas |  | $ | 397,208 |  |  | $ | 305,580 |
Asia |  |  | 268,043 |  |  |  | 287,246 |
Europe |  |  | 77,855 |  |  |  | 70,341 |
Elimination of intersegment sales |  |  | (48,411 | ) |  |  | (27,084 | )
|  | $ | 694,695 |  |  | $ | 636,083 |
Depreciation and amortization: |  |  |  |  |  |
Americas |  | $ | 5,132 |  |  | $ | 4,855 |
Asia |  |  | 2,351 |  |  |  | 2,547 |
Europe |  |  | 778 |  |  |  | 804 |
Corporate |  |  | 2,839 |  |  |  | 2,691 |
|  | $ | 11,100 |  |  | $ | 10,897 |
Income from operations: |  |  |  |  |  |
Americas |  | $ | 13,331 |  |  | $ | 10,365 |
Asia |  |  | 28,784 |  |  |  | 27,806 |
Europe |  |  | 6,686 |  |  |  | 4,638 |
Corporate and intersegment eliminations |  |  | (26,059 | ) |  |  | (27,402 | )
|  |  | 22,742 |  |  |  | 15,407 |
Interest expense |  |  | (6,450 | ) |  |  | (1,750 | )
Interest income |  |  | 1,258 |  |  |  | 130 |
Other expense |  |  | (2,165 | ) |  |  | (294 | )
Income before income taxes |  | $ | 15,385 |  |  | $ | 13,493 |
Capital expenditures: |  |  |  |  |  |
Americas |  | $ | 23,109 |  |  | $ | 12,516 |
Asia |  |  | 7,548 |  |  |  | 3,928 |
Europe |  |  | 1,688 |  |  |  | 1,797 |
Corporate |  |  | 6,386 |  |  |  | (266 | )
|  | $ | 38,731 |  |  | $ | 17,975 |
|  | March 31, |  |  | December 31, |
(in thousands) |  | 2023 |  |  | 2022 |
Total assets: |  |  |  |  |  |
Americas |  | $ | 1,118,529 |  |  | $ | 1,055,533 |
Asia |  |  | 774,147 |  |  |  | 764,164 |
Europe |  |  | 188,513 |  |  |  | 183,443 |
Corporate |  |  | 197,459 |  |  |  | 224,191 |
|  | $ | 2,278,648 |  |  | $ | 2,227,331 |
Geographic net sales information provided below reflects the destination of the product shipped. Long-lived assets information is based on the physical location of the asset and includes property, plant and equipment, net, operating lease right-of-use assets, and other long-term assets, net.
|  | Three Months Ended March 31, |
(in thousands) |  | 2023 |  |  | 2022 |
Geographic net sales: |  |  |  |  |  |
United States |  | $ | 431,185 |  |  | $ | 329,110 |
Singapore |  |  | 86,956 |  |  |  | 105,672 |
Other Asia |  |  | 45,253 |  |  |  | 74,910 |
Europe |  |  | 104,693 |  |  |  | 99,265 |
Other |  |  | 26,608 |  |  |  | 27,126 |
|  | $ | 694,695 |  |  | $ | 636,083 |
|  | March 31, |  |  | December 31, |
(in thousands) |  | 2023 |  |  | 2022 |
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 248,769 |  |  | $ | 249,409 |
Asia |  |  | 72,094 |  |  |  | 68,283 |
Europe |  |  | 29,191 |  |  |  | 29,338 |
Other |  |  | 32,745 |  |  |  | 23,801 |
|  | $ | 382,799 |  |  | $ | 370,831 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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