v3.25.1
Enterprise-Wide Segment Information and Net Sales
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Enterprise-Wide Segment Information and Net Sales

NOTE 7 – Enterprise-Wide Segment Information and Net Sales

Segment Reporting. For financial reporting purposes, we operate in a single segment, standard semiconductor products, through our various manufacturing and distribution facilities. One segment reflects how our chief operating decision maker, which is our chief executive officer, allocates resources and measures results. We aggregate our products because the products are similar and have similar economic characteristics, use similar production processes and share similar customer type. Our primary operations include operations in Asia, the Americas, and Europe. During the three months ended March 31, 2025, two customers accounted for approximately $39.0 million and $33.6 million, or 11.8% and 10.1%, respectively, of our net sales and one customer accounted for approximately 14.1% of our outstanding accounts receivable at March 31, 2025. During the three months ended March 31, 2024, one customer accounted for approximately $42.7 million or 14.2% of our net sales and one customer accounted for approximately 17.3% of our outstanding accounts receivable at March 31, 2024. All customers that accounted for 10% or more of our net sales during any period presented in this Quarterly Report on Form 10-Q are broad-based global distributors that sell to thousands of different end users.

Disaggregation of Net Sales. We disaggregate net sales with customers into direct sales to end customers and distribution sales to distributors (“Distributors”) and by geographic area. Direct sales customers consist of those customers using our product in their manufacturing process, and Distributors are those customers who resell our products to third parties. We deliver our products to customers around the world for use in the industrial, automotive, computing, consumer, and communications markets. Further, most of our contracts are fixed-price arrangements, and are short term in nature, ranging from days to several months. The tables below set forth net sales based on the location of the subsidiary producing the net sale:

As of and for the

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2025

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

352,691

 

 

261,945

 

 

$

58,251

 

 

$

672,887

 

Intercompany elimination

 

 

(159,164

)

 

(148,357

)

 

 

(33,253

)

 

 

(340,774

)

Net sales

 

$

193,527

 

 

$

113,588

 

 

$

24,998

 

 

$

332,113

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

$

488,423

 

 

$

74,780

 

 

$

102,654

 

 

$

665,857

 

Total assets

 

$

1,662,760

 

 

$

460,343

 

 

$

233,238

 

 

$

2,356,341

 

 

 

 

 

 

 

As of and for the

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2024

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

329,426

 

$

223,773

 

 

$

66,387

 

 

$

619,586

 

Intercompany elimination

 

 

(148,884

)

 

(136,430

)

 

 

(32,300

)

 

 

(317,614

)

Net sales

 

$

180,542

 

 

$

87,343

 

 

$

34,087

 

 

$

301,972

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

$

529,187

 

 

$

82,838

 

 

$

111,453

 

 

$

723,478

 

Total assets

 

$

1,617,774

 

 

$

502,459

 

 

$

235,939

 

 

$

2,356,172

 

 

The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment destination and by type (direct sales or Distributor):

 

 

For the Three Months Ended March 31,

Net Sales by Region

 

2025

 

 

2024

 

 

Asia

 

$

258,292

 

 

$

228,420

 

 

Europe

 

 

44,574

 

 

 

47,450

 

 

Americas

 

 

29,247

 

 

 

26,102

 

 

Total net sales

 

$

332,113

 

 

$

301,972

 

 

 

 

 

 

 

 

 

 

Net Sales by Type

 

 

 

 

 

 

 

Direct sales

 

$

121,833

 

 

$

118,164

 

 

Distributor sales

 

 

210,280

 

 

 

183,808

 

 

Total net sales

 

$

332,113

 

 

$

301,972

 

 

 

 

 

 

 

 

 

 

Net sales from products shipped to China was $153.4 million and $138.5 million for the three months ended March 31, 2025 and 2024, respectively.