XML 57 R44.htm IDEA: XBRL DOCUMENT v3.22.0.1

Performance-Based Common Stock Warrants (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Purchase Level and Number of Warrants That Will Vest

The table below presents the purchase levels and potential number of warrants to vest in each period based upon achieving these purchase levels.

			Potential Warrants To Vest
Aggregate Level of Purchases by Comcast and Affiliates			January 1, 2016 - December 31, 2017						January 1, 2018 - December 31, 2019						January 1, 2020 - December 31, 2021
$260 million			100,000						100,000						75,000
$300 million			75,000						75,000						75,000
$340 million			75,000						75,000						75,000
Maximum Potential Warrants Earned by Comcast			250,000						250,000						225,000

Assumptions Used in Valuation and Weighted Average Fair Value of Warrants

The assumptions we utilized in the Black-Scholes option pricing model and the resulting grant-date fair value of the warrants as of January 1, 2020 were the following:

Fair value			$17.19
Price of Universal Electronics Inc. common stock			$52.21
Risk-free interest rate			1.62		%
Expected volatility			48.86		%
Expected life in years			3.00

The assumptions we utilized in the Black-Scholes option pricing model and the resulting weighted average fair value of the warrants were the following:

									Year Ended December 31,
									2019
Fair value									$21.60
Price of Universal Electronics Inc. common stock									$58.01
Risk-free interest rate									1.65		%
Expected volatility									48.90		%
Expected life in years									3.13

Impact to Net Sales in Connection with Warrants and Related Income Tax Benefit

The impact to net sales recorded in connection with the warrants and the related income tax benefit was as follows:

			Year Ended December 31,
(in thousands)			2021						2020						2019
Reduction (addition) to net sales (1)			$	(686)					$	686					$	1,997
Income tax benefit			(171)						171						498

(1)     At December 31, 2021, Comcast did not meet the minimum performance obligations to vest in any portion of the warrants associated with the two-year vesting period ended December 31, 2021. As such, all previously recorded expenses associated with this vesting period were reversed.

X

- Definition

Schedule of Fair Value Assumptions [Table Text Block]

+ References

No definition available.

+ Details

Name:	ueic_ScheduleofFairValueAssumptionsTableTextBlock
Namespace Prefix:	ueic_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Impact To Net Sales Due To Warrants [Table Text Block]

+ References

No definition available.

+ Details

Name:	ueic_ScheduleofImpactToNetSalesDueToWarrantsTableTextBlock
Namespace Prefix:	ueic_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

+ Details

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