XML 33 R19.htm IDEA: XBRL DOCUMENT
v3.22.4

Note 10 - Segment and Geographic Information | 12 Months Ended
--- | ---
Dec. 31, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
10. | Segment and Geographic Information
We applied the provisions of ASC 280, which sets forth a management approach to segment reporting and establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products, major customers and the geographies in which the entity holds material assets and reports revenue. An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the chief operating decision maker and for which discrete financial information is available. We have determined that our three identified operating segments are: THG, STG and ISG. Our THG, STG and ISG operating segments qualify for aggregation under ASC 280 due to similarities in their customers, their economic characteristics, and the nature of products and services provided. As a result, we report in one segment, Semiconductor Test & Inspection. All amounts presented in our consolidated balance sheet as of December 31, 2022, and our consolidated statement of operations for the twelve months ended December 31, 2022, represents the financial position and results of our remaining reportable segment. Prior to the sale of our PCB Test Group on June 24, 2021, we reported in two segments, Semiconductor Test & Inspection and PCB Test.
(in thousands) |  | 2021 |  |  | 2020 |
Net sales by segment: |  |  |  |  |  |  |  |
Semiconductor Test & Inspection |  | $ | 860,454 |  |  | $ | 585,240 |
PCB Test |  |  | 26,760 |  |  |  | 50,767 |
Total consolidated net sales for reportable segments |  | $ | 887,214 |  |  | $ | 636,007 |
Segment profit (loss) before tax: |  |  |  |  |  |  |  |
Semiconductor Test & Inspection |  | $ | 138,026 |  |  | $ | (2,497 | )
PCB Test |  |  | 3,907 |  |  |  | 6,971 |
Profit for reportable segments |  |  | 141,933 |  |  |  | 4,474 |
Other unallocated amounts: |  |  |  |  |  |  |  |
Corporate expenses |  |  | (10,819 | ) |  |  | (4,384 | )
Gain on sale of PCB Test business |  |  | 70,815 |  |  |  | - |
Interest expense |  |  | (6,413 | ) |  |  | (13,759 | )
Interest income |  |  | 239 |  |  |  | 224 |
Gain on extinguishment of debt |  |  | (3,411 | ) |  |  | 268 |
Profit (loss) from continuing operations before taxes |  | $ | 192,344 |  |  | $ | (13,177 | )
(in thousands) |  | 2021 |  |  | 2020 |
Depreciation and amortization by segment deducted in arriving at profit (loss): |
Semiconductor Test & Inspection |  | $ | 48,129 |  |  | $ | 51,548 |
PCB Test |  |  | 439 |  |  |  | 1,198 |
Total depreciation and amortization |  | $ | 48,568 |  |  | $ | 52,746 |
Capital expenditures by segment: |  |  |  |  |  |  |  |
Semiconductor Test & Inspection |  | $ | 11,954 |  |  | $ | 18,616 |
PCB Test |  |  | 46 |  |  |  | 44 |
Total consolidated capital expenditures |  | $ | 12,000 |  |  | $ | 18,660 |
(in thousands) |  | 2020 |
Total assets by segment: |  |  |  |
Semiconductor Test & Inspection |  | $ | 968,028 |
PCB Test |  |  | 66,826 |
Total assets for reportable segments |  |  | 1,034,854 |
Corporate, principally cash and investments |  |  | 55,492 |
Discontinued operations |  |  | - |
Total consolidated assets |  | $ | 1,090,346 |
During the last three years, the following customers of our Semiconductor Test & Inspection segment that comprised 10% or greater of our consolidated net sales were as follows:
|  | 2022 |  |  | 2021 |  |  | 2020 |
Analog Devices |  |  | * |  |  |  | 14.1 | % |  |  | * |
* Less than 10% of consolidated net sales. |
On June 24, 2021, we completed the divestment of our PCB Test business. Prior to this, no customer of our PCB Test segment exceeded 10% of consolidated net sales for the years ended December 25, 2021 and December 26, 2020. Net sales to customers, attributed to countries based on product shipment destination, were as follows:
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
China |  | $ | 146,227 |  |  | $ | 213,575 |  |  | $ | 143,360 |
Philippines |  |  | 111,647 |  |  |  | 155,070 |  |  |  | 56,272 |
Malaysia |  |  | 99,508 |  |  |  | 79,777 |  |  |  | 57,893 |
United States |  |  | 79,093 |  |  |  | 77,495 |  |  |  | 108,694 |
Taiwan |  |  | 59,835 |  |  |  | 88,152 |  |  |  | 83,685 |
Rest of the world |  |  | 316,465 |  |  |  | 273,145 |  |  |  | 186,103 |
Total, net |  | $ | 812,775 |  |  | $ | 887,214 |  |  | $ | 636,007 |
Geographic location of our property, plant and equipment and other long-lived assets was as follows:
(in thousands) |  | 2022 |  |  | 2021 |
Property, plant and equipment: |  |  |  |  |  |  |  |
United States |  | $ | 18,419 |  |  | $ | 18,375 |
Germany |  |  | 15,977 |  |  |  | 17,419 |
Philippines |  |  | 14,706 |  |  |  | 10,384 |
Japan |  |  | 9,316 |  |  |  | 11,156 |
Malaysia |  |  | 4,300 |  |  |  | 4,082 |
Rest of the world |  |  | 2,293 |  |  |  | 2,541 |
Total, net |  | $ | 65,011 |  |  | $ | 63,957 |
Goodwill and other intangible assets: |  |  |  |  |  |  |  |
Germany |  | $ | 158,401 |  |  | $ | 181,146 |
United States |  |  | 131,068 |  |  |  | 150,477 |
Malaysia |  |  | 43,571 |  |  |  | 43,611 |
Singapore |  |  | 12,512 |  |  |  | 12,990 |
Switzerland |  |  | 4,299 |  |  |  | 4,583 |
Japan |  |  | 2,641 |  |  |  | 3,148 |
Rest of the world |  |  | 1,151 |  |  |  | 1,156 |
Total, net |  | $ | 353,643 |  |  | $ | 397,111 |

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

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration