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Revenue and Accounts Receivable, Net (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Pattern of Revenue Recognition | The pattern of revenue recognition was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Goods and services transferred at a point in time | $ | 85,186 |  |  | $ | 83,855 |  |  | $ | 235,572 |  |  | $ | 249,908 |
Goods and services transferred over time | 16,887 |  | 23,240 |  | 48,853 |  | 72,955 |
Net sales | $ | 102,073 |  |  | $ | 107,095 |  |  | $ | 284,425 |  |  | $ | 322,863 |
Revenue from External Customers by Geographic Areas | Our net sales to external customers by geographic area were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
United States | $ | 25,833 |  |  | $ | 31,737 |  |  | $ | 71,455 |  |  | $ | 97,892 |
Asia (excluding PRC) | 20,785 |  | 20,107 |  |  | 57,893 |  | 66,508 |
Europe | 22,583 |  | 22,529 |  | 60,837 |  | 68,598
PRC | 17,747 |  | 19,049 |  | 49,560 |  | 49,082
Latin America | 9,164 |  | 8,227 |  | 26,888 |  | 24,408
Other | 5,961 |  | 5,446 |  | 17,792 |  | 16,375
Total net sales | $ | 102,073 |  |  | $ | 107,095 |  |  | $ | 284,425 |  |  | $ | 322,863 |
Net Sales to Significant Customers | Net sales to the following customers totaled more than 10% of our net sales:
| Three Months Ended September 30,
| 2024 |  | 2023
| $ (thousands) |  | % of Net Sales |  | $ (thousands) |  | % of Net Sales |
Daikin Industries Ltd. | $ | 12,620 |  |  | 12.4 | % |  | $ | 15,194 |  |  | 14.2 | % |
Sony Corporation | $ | 10,841 |  |  | 10.6 | % |  | $ | 11,825 |  |  | 11.0 | % |
| Nine Months Ended September 30,
| 2024 |  | 2023
| $ (thousands) |  | % of Net Sales |  | $ (thousands) |  | % of Net Sales |
Daikin Industries Ltd. | $ | 37,658 |  |  | 13.2 | % |  | $ | 48,401 |  |  | 15.0 | % |
Comcast Corporation | (1) |  | (1) |  | $ | 34,436 |  |  | 10.7 | % |
(1) Sales associated with this customer did not total more than 10% of our net sales for the indicated period.
Accounts Receivable, Net and Changes in the Allowance for Doubtful Accounts | Accounts receivable, net were as follows:
(In thousands) | September 30, 2024 |  | December 31, 2023
Trade receivables, gross | $ | 102,127 |  |  | $ | 106,182 |
Allowance for credit losses | (841) |  |  | (815) |
Allowance for sales returns | (343) |  |  | (532) |
Trade receivables, net | 100,943 |  |  | 104,835 |
Other (1) | 5,686 |  |  | 7,761 |
Accounts receivable, net | $ | 106,629 |  |  | $ | 112,596 |
(1)Other accounts receivable is primarily comprised of value added tax receivables, interest receivable and supplier rebate receivables. Changes in the allowance for credit losses were as follows:
(In thousands) | Nine Months Ended September 30,
2024 |  | 2023
Balance at beginning of period | $ | 815 |  |  | $ | 957 |
Additions (reductions) to costs and expenses | 17 |  |  | 69 |
Write-offs/Foreign exchange effects | 9 |  |  | (207) |
Balance at end of period | $ | 841 |  |  | $ | 819 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable | Changes in the carrying amount of contract liabilities were as follows:
(In thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
2024 |  | 2023 |  | 2024 |  | 2023
Balance at beginning of period | $ | 4,717 |  |  | $ | 2,931 |  |  | $ | 3,501 |  |  | $ | 1,931 |
Payments received | 981 |  |  | 862 |  |  | 4,444 |  |  | 4,314 |
Revenue recognized | (1,697) |  |  | (1,001) |  |  | (3,922) |  |  | (3,453) |
Foreign exchange effects | 31 |  |  | — |  |  | 9 |  |  | — |
Balance at end of period | $ | 4,032 |  |  | $ | 2,792 |  |  | $ | 4,032 |  |  | $ | 2,792 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- 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
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