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Segment and Geographic Data | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment and Geographic Data | Segment and Geographic Data VPG reports in three reportable segments: Sensors segment, Weighing Solutions segment, and Measurement Systems segment. The Sensors reporting segment is comprised of the foil resistor and strain gage operating segments. The Weighing Solutions segment is comprised of specialized modules and systems used to precisely measure weight, force torque, and pressure. The Measurement Systems reporting segment is comprised of highly specialized systems for steel production, materials development, and safety testing. The chief operating decision maker ("CODM") is our chief executive officer. The evaluation of the segments performance is based on multiple performance measures including gross profits, revenues, and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring and severance costs, impairment of goodwill and indefinite-lived intangible assets, acquisition costs, and other items is meaningful because they relate to occurrences or events that are outside of our core operations, and management believes that the use of these measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 1). Reporting segment assets are the owned or allocated assets used by each segment. Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. The following table sets forth reporting segment information (in thousands):
| Sensors |  | Weighing Solutions |  | Measurement Systems |  | Corporate/ Other |  | Total
2023 |  |  |  |  |  |  |  |  |
Net third-party revenues | $ | 139,783 |  |  | $ | 122,528 |  |  | $ | 92,737 |  |  | $ | — |  |  | $ | 355,048 |
Intersegment revenues | 1,743 |  |  | — |  |  | — |  |  | (1,743) |  |  | — |
Gross profit | 55,130 |  |  | 45,276 |  |  | 49,936 |  |  | — |  |  | 150,342 |
Segment operating income (loss) | 34,825 |  |  | 21,570 |  |  | 20,607 |  |  | (35,048) |  |  | 41,954 |
Restructuring costs | — |  |  | 1,478 |  |  | 32 |  |  | 50 |  |  | 1,560 |
Depreciation and amortization expense | 6,141 |  |  | 3,389 |  |  | 4,239 |  |  | 1,781 |  |  | 15,550 |
Capital expenditures | 8,181 |  |  | 6,447 |  |  | 1,111 |  |  | 2 |  |  | 15,741 |
Total assets | 156,384 |  |  | 142,152 |  |  | 154,559 |  |  | 18,471 |  |  | 471,566 |
2022 |  |  |  |  |  |  |  |  |
Net third-party revenues | $ | 152,221 |  |  | $ | 125,715 |  |  | $ | 84,644 |  |  | $ | — |  |  | $ | 362,580 |
Intersegment revenues | 2,121 |  |  | — |  |  | — |  |  | (2,121) |  |  | — |
Gross profit | 61,087 |  |  | 43,178 |  |  | 45,337 |  |  | — |  |  | 149,602 |
Segment operating income (loss) | 41,671 |  |  | 21,232 |  |  | 18,399 |  |  | (37,503) |  |  | 43,799 |
Restructuring costs | 1,460 |  |  | — |  |  | 58 |  |  | — |  |  | 1,518 |
Depreciation and amortization expense | 5,816 |  |  | 3,343 |  |  | 4,308 |  |  | 1,886 |  |  | 15,353 |
Capital expenditures | 11,515 |  |  | 7,094 |  |  | 1,324 |  |  | 18 |  |  | 19,951 |
Total assets | 156,816 |  |  | 148,041 |  |  | 153,547 |  |  | 18,338 |  |  | 476,742 |
2021 |  |  |  |  |  |  |  |  |
Net third-party revenues | $ | 127,861 |  |  | $ | 125,390 |  |  | $ | 64,668 |  |  | $ | — |  |  | $ | 317,919 |
Intersegment revenues | 3,487 |  |  | — |  |  | — |  |  | (3,487) |  |  | — |
Gross profit | 45,474 |  |  | 45,900 |  |  | 33,768 |  |  | — |  |  | 125,142 |
Segment operating income (loss) | 26,527 |  |  | 23,184 |  |  | 13,480 |  |  | (35,819) |  |  | 27,372 |
Acquisition costs | — |  |  | — |  |  | 1,198 |  |  | — |  |  | 1,198 |
Impairment of goodwill and indefinite-lived intangibles | — |  |  | — |  |  | 1,223 |  |  | — |  |  | 1,223 |
Restructuring costs | — |  |  | 76 |  |  | — |  |  | — |  |  | 76 |
Depreciation and amortization expense | 5,967 |  |  | 3,415 |  |  | 3,834 |  |  | 1,780 |  |  | 14,996 |
Capital expenditures | 13,213 |  |  | 3,434 |  |  | 913 |  |  | 7 |  |  | 17,567 |
Total assets | 142,510 |  |  | 152,399 |  |  | 159,816 |  |  | 7,164 |  |  | 461,889 |
The “Corporate/Other” column for segment operating income (loss) includes unallocated selling, general, and administrative expenses and certain items which management excludes from segment results when evaluating segment performance, as follows (in thousands):
| Years ended December 31,
| 2023 |  | 2022 |  | 2021
Unallocated selling, general, and administrative expenses | $ | (33,488) |  |  | $ | (35,985) |  |  | $ | (33,322) |
Acquisition costs | — |  |  | — |  |  | (1,198) |
Impairment of goodwill and indefinite-lived intangibles | — |  |  | — |  |  | (1,223) |
Restructuring costs | (1,560) |  |  | (1,518) |  |  | (76) |
| $ | (35,048) |  |  | $ | (37,503) |  |  | $ | (35,819) |
The following geographic data includes property and equipment based on physical location (in thousands):
| December 31,
Property and Equipment - Net | 2023 |  | 2022
United States | $ | 12,935 |  |  | $ | 12,651 |
United Kingdom | 3,364 |  |  | 3,368 |
Other Europe | 1,957 |  |  | 1,721 |
Israel | 43,987 |  |  | 44,551 |
Asia | 26,946 |  |  | 23,264 |
Canada and Other | 1,447 |  |  | 1,572 |
| $ | 90,636 |  |  | $ | 87,127 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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