XML 42 R35.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Segment, Geographic Information and Major Customer (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Operating Segments | Information about the Company's operating segments follows:
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
2024 |  |  |  |  |  |  |  |  |  |  |  |
Sales from external customers |  | $ | 1,277,702 |  |  | $ | 1,050,415 |  |  | $ | 327,988 |  |  | $ | 2,656,105 |
Intersegment sales |  |  | 52,659 |  |  |  | 40,734 |  |  |  | 11,349 |  |  |  | 104,742 |
|  | $ | 1,330,361 |  |  | $ | 1,091,149 |  |  | $ | 339,337 |  |  | $ | 2,760,847 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (104,742 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 2,656,105 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 1,201,073 |  |  |  | 895,842 |  |  |  | 292,115 |  |  |  |
Selling, general and administrative expenses |  |  | 31,064 |  |  |  | 13,878 |  |  |  | 9,601 |  |  |  |
Other(1) |  |  | 5,350 |  |  |  | 387 |  |  |  | 4 |  |  |  |
Segment income from operations |  | $ | 40,215 |  |  | $ | 140,308 |  |  | $ | 26,268 |  |  | $ | 206,791 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (97,380 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (26,922 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 10,208 |
Other (expense) income, net |  |  |  |  |  |  |  |  |  |  |  | (8,802 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 83,895 |
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
2023 |  |  |  |  |  |  |  |  |  |  |  |
Sales from external customers |  | $ | 1,533,987 |  |  | $ | 1,009,456 |  |  | $ | 295,533 |  |  | $ | 2,838,976 |
Intersegment sales |  |  | 77,796 |  |  |  | 46,482 |  |  |  | 4,302 |  |  |  | 128,580 |
|  | $ | 1,611,783 |  |  | $ | 1,055,938 |  |  | $ | 299,835 |  |  | $ | 2,967,556 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (128,580 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 2,838,976 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 1,431,551 |  |  |  | 871,882 |  |  |  | 269,878 |  |  |  |
Selling, general and administrative expenses |  |  | 30,905 |  |  |  | 13,096 |  |  |  | 8,108 |  |  |  |
Other(1) |  |  | 8,047 |  |  |  | 199 |  |  |  | 167 |  |  |  |
Segment income from operations |  | $ | 63,484 |  |  | $ | 124,279 |  |  | $ | 17,380 |  |  | $ | 205,143 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (95,479 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (31,875 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 6,256 |
Other (expense) income, net |  |  |  |  |  |  |  |  |  |  |  | (2,825 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 81,220 |
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Sales from external customers |  | $ | 1,410,954 |  |  | $ | 1,194,377 |  |  | $ | 281,000 |  |  | $ | 2,886,331 |
Intersegment sales |  |  | 64,976 |  |  |  | 57,100 |  |  |  | 3,100 |  |  |  | 125,176 |
|  | $ | 1,475,930 |  |  | $ | 1,251,477 |  |  | $ | 284,100 |  |  | $ | 3,011,507 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (125,176 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 2,886,331 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 1,321,316 |  |  |  | 1,047,354 |  |  |  | 257,493 |  |  |  |
Selling, general and administrative expenses |  |  | 29,654 |  |  |  | 12,067 |  |  |  | 6,621 |  |  |  |
Other(1) |  |  | 4,781 |  |  |  | 305 |  |  |  | — |  |  |  |
Segment income from operations |  | $ | 55,203 |  |  | $ | 134,651 |  |  | $ | 16,886 |  |  | $ | 206,740 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (116,671 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (12,894 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 1,730 |
Other (expense) income, net |  |  |  |  |  |  |  |  |  |  |  | 5,437 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 84,342 |
(1) Includes expenses for amortization of intangible assets and restructuring charges and other costs. (2) Includes corporate expenses for unallocated expenses, amortization of intangible assets and restructuring charges and other costs and elimination of intersegment cost of sales.
|  | Year Ended December 31, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Americas |  | $ | 21,136 |  |  | $ | 20,940 |  |  | $ | 19,574 |
Asia |  |  | 10,277 |  |  |  | 9,746 |  |  |  | 10,192 |
Europe |  |  | 3,596 |  |  |  | 3,226 |  |  |  | 3,289 |
Corporate |  |  | 11,135 |  |  |  | 11,498 |  |  |  | 11,197 |
Total depreciation and amortization |  | $ | 46,144 |  |  | $ | 45,410 |  |  | $ | 44,252 |
Capital expenditures: |  |  |  |  |  |  |  |  |
Americas |  | $ | 13,692 |  |  | $ | 38,627 |  |  | $ | 30,105 |
Asia |  |  | 14,049 |  |  |  | 25,286 |  |  |  | 10,534 |
Europe |  |  | 3,585 |  |  |  | 7,098 |  |  |  | 4,509 |
Corporate |  |  | 1,927 |  |  |  | 6,728 |  |  |  | 1,626 |
Total capital expenditures |  | $ | 33,253 |  |  | $ | 77,739 |  |  | $ | 46,774 |
|  | December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Assets: |  |  |  |  |  |
Americas |  | $ | 866,595 |  |  | $ | 1,064,047 |
Asia |  |  | 821,252 |  |  |  | 769,744 |
Europe |  |  | 225,872 |  |  |  | 222,591 |
Corporate |  |  | 225,745 |  |  |  | 218,373 |
Total assets |  | $ | 2,139,464 |  |  | $ | 2,274,755 |
Schedule of Geographic Sales and Long-Lived Assets | A summary of the Company's geographic sales and long-lived assets follows:
|  | Year Ended December 31, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Geographic sales: |  |  |  |  |  |  |  |  |
United States |  | $ | 1,488,297 |  |  | $ | 1,737,144 |  |  | $ | 1,569,232 |
Singapore |  |  | 463,553 |  |  |  | 383,914 |  |  |  | 457,889 |
Other Asia |  |  | 215,898 |  |  |  | 210,927 |  |  |  | 332,144 |
Europe |  |  | 406,514 |  |  |  | 402,514 |  |  |  | 387,276 |
Other |  |  | 81,843 |  |  |  | 104,477 |  |  |  | 139,790 |
Total sales |  | $ | 2,656,105 |  |  | $ | 2,838,976 |  |  | $ | 2,886,331 |
|  | December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 215,536 |  |  | $ | 231,740 |
Asia |  |  | 89,249 |  |  |  | 79,203 |
Europe |  |  | 39,936 |  |  |  | 42,934 |
Other |  |  | 64,506 |  |  |  | 66,072 |
Total long-lived assets |  | $ | 409,227 |  |  | $ | 419,949 |
Schedule of Sales To Largest Customers | The Company had sales to the following customer that exceeded 10% of the Company's consolidated sales:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Applied Materials, Inc. and subsidiaries |  | 14% |  | 12% |  | 15%

X
- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration