SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
Segment Reporting [Abstract] |
|
Schedule of Reportable Segments and Operating Income |
The “All
other” category includes the design, development, manufacturing and sales of energy storage products, e-Mobility products, UPS products
and automated machines
The
following table presents information on reportable segments profit (loss) for the period presented:
|
|
Year
ended December 31, |
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
|
Solar
|
|
|
All
other |
|
|
Solar
|
|
|
All
other |
|
|
Solar
|
|
|
All
other |
|
Revenues
|
|
$
|
2,921,175
|
|
|
$
|
188,490
|
|
|
$
|
1,787,280
|
|
|
$
|
176,167
|
|
|
$
|
1,357,261
|
|
|
$
|
102,804
|
|
Cost of revenues
|
|
|
2,050,147
|
|
|
|
181,923
|
|
|
|
1,136,896
|
|
|
|
169,582
|
|
|
|
882,420
|
|
|
|
95,280
|
|
Gross profit
|
|
|
871,028
|
|
|
|
6,567
|
|
|
|
650,384
|
|
|
|
6,585
|
|
|
|
474,841
|
|
|
|
7,524
|
|
Research and development
|
|
|
196,381
|
|
|
|
29,016
|
|
|
|
143,173
|
|
|
|
30,506
|
|
|
|
110,567
|
|
|
|
25,417
|
|
Sales and marketing
|
|
|
118,154
|
|
|
|
9,687
|
|
|
|
85,309
|
|
|
|
9,930
|
|
|
|
66,823
|
|
|
|
8,562
|
|
General and administrative
|
|
|
69,631
|
|
|
|
13,001
|
|
|
|
53,156
|
|
|
|
13,536
|
|
|
|
41,723
|
|
|
|
10,389
|
|
Segments profit (loss)
|
|
$
|
486,862
|
|
|
$
|
(45,137
|
)
|
|
$
|
368,746
|
|
|
$
|
(47,387
|
)
|
|
$
|
255,728
|
|
|
$
|
(36,844
|
)
|
|
Schedule of Reportable Segments Reconciliation to Consolidated Revenues |
The
following table presents information on reportable segments reconciliation to consolidated revenues for the periods presented:
|
|
Year
ended December 31, |
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
Solar
segment revenues |
|
$ |
2,921,175 |
|
|
$ |
1,787,280 |
|
|
$ |
1,357,261 |
|
All
other segment revenues |
|
|
188,490 |
|
|
|
176,167 |
|
|
|
102,804 |
|
Revenues
from financing component |
|
|
614 |
|
|
|
418 |
|
|
|
- |
|
Inter-segment
revenues |
|
|
- |
|
|
|
- |
|
|
|
(794 |
) |
Consolidated
revenues |
|
$ |
3,110,279 |
|
|
$ |
1,963,865 |
|
|
$ |
1,459,271 |
|
The
following table presents information on reportable segments reconciliation to consolidated operating income for the periods presented:
|
|
Year
ended December 31, |
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
Solar segment profit
|
|
$
|
486,862
|
|
|
$
|
368,746
|
|
|
$
|
255,728
|
|
All other segment loss
|
|
|
(45,137
|
)
|
|
|
(47,387
|
)
|
|
|
(36,844
|
)
|
Segments operating profit
|
|
|
441,725
|
|
|
|
321,359
|
|
|
|
218,884
|
|
Amounts not allocated
to segments: |
|
|
|
|
|
|
|
|
|
|
|
|
Stock
based compensation expenses |
|
|
(145,539
|
)
|
|
|
(102,593
|
)
|
|
|
(67,309
|
)
|
Amortization
and depreciation of acquired assets |
|
|
(9,478
|
)
|
|
|
(10,812
|
)
|
|
|
(9,336
|
)
|
Impairment
of goodwill and long-lived assets |
|
|
(119,141
|
)
|
|
|
-
|
|
|
|
-
|
|
Disposal
of assets related to Critical Power |
|
|
(4,314
|
)
|
|
|
-
|
|
|
|
-
|
|
Other
unallocated income (expenses), net |
|
|
2,867
|
|
|
|
(815
|
)
|
|
|
322
|
|
Consolidated operating
income |
|
$
|
166,120
|
|
|
$
|
207,139
|
|
|
$
|
142,561
|
|
|
Summary of Revenues Within Geographic Areas |
b.
Revenues by geographic, based on Customers’ location:
|
|
Year
ended December 31, |
|
|
|
|
2022
|
|
|
|
2021
|
|
|
|
2020
|
|
United
States |
|
$ |
1,133,798 |
|
|
$ |
786,019 |
|
|
$ |
613,090 |
|
Europe(*)
|
|
|
528,197 |
|
|
|
297,684 |
|
|
|
233,583 |
|
Germany
|
|
|
449,160
|
|
|
|
191,066
|
|
|
|
118,350
|
|
Netherlands
|
|
|
382,226 |
|
|
|
222,103 |
|
|
|
199,498 |
|
Italy
|
|
|
330,565
|
|
|
|
181,644
|
|
|
|
74,598
|
|
Rest
of the world |
|
|
286,333 |
|
|
|
285,349 |
|
|
|
220,152 |
|
Total
revenues |
|
$ |
3,110,279 |
|
|
$ |
1,963,865 |
|
|
$ |
1,459,271 |
|
(*)
Except for Germany, Netherlands and Italy
|
Summary of Revenues By Product Family |
c.
Revenues by type:
|
|
Year
ended December 31, |
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
Inverters
|
|
$
|
1,137,142
|
|
|
$
|
828,101
|
|
|
$
|
641,799
|
|
Optimizers
|
|
|
1,135,040
|
|
|
|
828,542
|
|
|
|
625,465
|
|
Residential batteries
|
|
|
429,119
|
|
|
|
19,531
|
|
|
|
-
|
|
e-Mobility
components and telematics |
|
|
94,446
|
|
|
|
68,946
|
|
|
|
13,399
|
|
Communication
|
|
|
72,812
|
|
|
|
24,111
|
|
|
|
41,771
|
|
Others
|
|
|
241,720
|
|
|
|
194,634
|
|
|
|
136,837
|
|
Total
revenues |
|
$
|
3,110,279
|
|
|
$
|
1,963,865
|
|
|
$
|
1,459,271
|
|
|
Schedule of Long-lived Assets By Geographic Region |
d.
Long-lived assets by geographic location:
|
|
As
of December 31, |
|
|
|
2022
|
|
|
2021
|
|
Israel
|
|
$
|
333,740
|
|
|
$
|
271,700
|
|
Korea
|
|
|
201,731
|
|
|
|
118,209
|
|
China
|
|
|
34,230
|
|
|
|
30,412
|
|
Europe
|
|
|
21,282
|
|
|
|
21,547
|
|
Other
|
|
|
15,740
|
|
|
|
15,649
|
|
Total long-lived assets(*)
|
|
$
|
606,723
|
|
|
$
|
457,517
|
|
(*) Long-lived
assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.
|