v3.26.1
Long-Term Debt
 6 Months Ended
Jul. 04, 2026
Long-Term Debt [Abstract]  
Long-Term Debt
Note 4 – Long-Term Debt
 
Long-term debt consists of the following:
 
  July 4, 2026   December 31, 2025 
        
Credit facility$238,000  $219,000 
Convertible senior notes, due 2030 750,000   750,000 
Deferred financing costs (15,713)   (18,107) 
  972,287   950,893 
Less current portion (737,744)   - 
 $234,543  $950,893 
 
The following table summarizes some key facts and terms regarding the outstanding convertible senior notes as of July 4, 2026:
 
  2030 Notes 
Issuance date September 12, 2023 
Maturity date September 15, 2030 
Principal amount as of July 4, 2026$750,000 
Cash coupon rate (per annum) 2.25%
Conversion rate (per $1 principal amount) 33.1609 
Effective conversion price (per share)$30.16 
130% of the current effective conversion price (per share)$39.21 
 
Holders of the convertible senior notes due 2030 (the "2030 Notes") may convert all or a portion of their 2030 Notes at their option prior to March 15, 2030, only under the following circumstances:
  • The last reported sale price of the common stock for at least the 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day;
  • During the five business day period after any five consecutive trading day period (the "Measurement Period") in which the trading price of the 2030 Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate in effect on each such trading day;
  • If the Company calls any or all of the 2030 Notes for redemption, at any time prior to the close of business on the scheduled trading day prior to the redemption date; or
  • Upon the occurrence of specified corporate events.
Pursuant to the indenture governing the 2030 Notes, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in cash and/or common stock, at the Company's election.
 
As of July 4, 2026, the first condition above had been met and, therefore, the 2030 Notes became eligible for conversion at the option of the holders beginning on July 6, 2026 and ending at the close of business on October 3, 2026.  Vishay has the ability to finance a certain amount of any converted 2030 Notes with borrowings from its long-term revolving credit facility.  The principal amount of 2030 Notes and associated deferred financing costs are classified as current liabilities on the July 4, 2026 consolidated condensed balance sheet.
 
Any determination regarding the convertibility of the 2030 Notes during future periods will be made in accordance with the terms of the indenture governing the 2030 Notes.
 
In the third fiscal quarter of 2026, the Company used a portion of the net proceeds from the public offering of its common stock, completed on July 1, 2026, to fully repay the outstanding balance on its revolving credit facility.
 
Deferred financing costs are recognized as non-cash interest expense.  Non-cash interest expense was $1,195 and $2,390 for the fiscal quarter and six fiscal months ended July 4, 2026, respectively, and $1,195 and $2,418 for the fiscal quarter and six fiscal months ended June 28, 2025.