Segment and Geographic Data

12 Months Ended

Dec. 31, 2012

Segment and Geographic Data [Abstract]

Segment and Geographic Data

Note 15 –Segment and Geographic Data

Following the completion of the spin-off of VPG in the third fiscal quarter of 2010, Vishay operates, and its chief operating decision maker makes strategic and operating decisions with regards to assessing performance and allocating resources based on, five reporting segments: MOSFETs, Diodes, Optoelectronic Components, Resistors & Inductors, and Capacitors.

The Company evaluates business segment performance on operating income, exclusive of certain items ("segment operating income").  Only dedicated, direct selling, general, and administrative expenses of the segments are included in the calculation of segment operating income.  The Company's calculation of segment operating income excludes such selling, general, and administrative costs as global operations, sales and marketing, information systems, finance and administration groups, as well as restructuring and severance costs, asset write-downs, goodwill and indefinite-lived intangible asset impairments, inventory write-downs, gains or losses on purchase commitments, and other items.  Management believes that evaluating segment performance excluding such items is meaningful because it provides insight with respect to intrinsic operating results of the Company.  These items represent reconciling items between segment operating income and consolidated operating income.  Business segment assets are the owned or allocated assets used by each business.

The Company has also disclosed certain additional items not used to evaluate segment performance.  In some cases, the items are regularly provided to the chief operating decision maker and are required to be disclosed by GAAP.  Additionally, the additional segment disclosures may provide insight to the Company's future profitability by reportable segment.

Note 15 –Segment and Geographic Data (continued)

The following tables set forth business segment information:

	MOSFETs		Diodes		Optoelectronic Components		Resistors & Inductors		Capacitors		Vishay Precision Group		Corporate / Other		Total
Year ended December 31, 2012:
Product sales	$	433,436	$	496,744	$	209,141	$	635,488	$	448,157	$	-	$	-	$	2,222,966
Royalty revenues		246		-		53		6,832		-		-		-	$	7,131
Total revenue	$	433,682	$	496,744	$	209,194	$	642,320	$	448,157	$	-	$	-	$	2,230,097
Gross Margin	$	56,694	$	99,116	$	67,943	$	204,137	$	98,783	$	-	$	-	$	526,673
Depreciation expense	$	49,124	$	36,335	$	11,917	$	31,921	$	23,354	$	-	$	1,150	$	153,801
Interest expense (income)		-		64		140		543		52		-		21,805	$	22,604
Capital expenditures		49,201		30,025		16,759		35,878		15,531		-		2,897	$	150,291
Total Assets as of December 31, 2012:	$	625,597	$	670,811	$	199,385	$	760,257	$	587,586	$	-	$	172,641	$	3,016,277
Year ended December 31, 2011:
Product sales	$	537,783	$	607,493	$	229,814	$	634,490	$	577,816	$	-	$	-	$	2,587,396
Royalty revenues		197		-		72		6,364		-		-		-	$	6,633
Total revenue	$	537,980	$	607,493	$	229,886	$	640,854	$	577,816	$	-	$	-	$	2,594,029
Gross Margin	$	125,498	$	143,876	$	74,772	$	213,997	$	161,843	$	-	$	-	$	719,986
Depreciation expense	$	53,808	$	39,577	$	12,384	$	32,039	$	25,979	$	-	$	1,235	$	165,022
Interest expense (income)		12		-		-		223		223		-		18,819	$	19,277
Capital expenditures		61,520		39,444		15,442		28,751		19,676		-		3,808	$	168,641
Total Assets as of December 31, 2011:	$	646,660	$	682,017	$	163,486	$	609,556	$	672,049	$	-	$	219,962	$	2,993,730
Year ended December 31, 2010:
Product sales	$	626,498	$	596,354	$	226,402	$	622,819	$	546,149	$	101,089	$	-	$	2,719,311
Royalty revenues		200		-		96		5,485		-		-		-	$	5,781
Total revenue	$	626,698	$	596,354	$	226,498	$	628,304	$	546,149	$	101,089	$	-	$	2,725,092
Gross Margin	$	189,209	$	138,308	$	75,804	$	222,785	$	144,349	$	37,030	$	-	$	807,485
Depreciation expense	$	51,865	$	39,035	$	12,282	$	30,142	$	31,551	$	3,391	$	1,458	$	169,724
Interest expense (income)		-		-		-		933		762		33		9,308	$	11,036
Capital expenditures		55,457		30,879		13,066		27,874		17,132		918		87	$	145,413
Total Assets as of December 31, 2010:	$	745,641	$	685,490	$	163,584	$	602,466	$	652,742	$	-	$	116,170	$	2,966,093

Note 15 –Segment and Geographic Data (continued)

	Years ended December 31,
	2012			2011			2010
Operating margin reconciliation:
MOSFETs	$	17,198		$	85,336		$	152,794
Diodes		75,733			118,111			115,168
Optoelectronic Components		54,632			60,492			64,088
Resistors & Inductors		172,129			185,327			195,730
Capacitors		76,858			136,901			121,714
Vishay Precision Group		-			-			18,949
Unallocated Selling, General, and Administrative Expenses		(219,502	)		(233,804	)		(250,505	)
Gain on sale of property		12,153			-			-
Executive compensation charges		-			(5,762	)		-
Consolidated Operating Income (Loss)	$	189,201		$	346,601		$	417,938

Note 15 –Segment and Geographic Data (continued)

Until July 6, 2010, VPG was part of Vishay and its assets, liabilities, results of operations, and cash flows are included in the amounts reported in these consolidated financial statements for periods prior to the completion of the spin-off. Excluding the non-recurring costs of the spin-off incurred by Vishay, VPG contributed $9,716 of income before taxes, $5,811 of net earnings attributable to Vishay stockholders, and $0.03 per diluted share attributable to Vishay stockholders to Vishay's 2010 results.

The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:

	Years ended December 31,
	2012		2011		2010
United States	$	568,849	$	363,847	$	345,267
Germany		775,204		801,539		726,235
Other Europe		61,236		175,639		217,099
Israel		14,708		219,037		292,025
Asia		810,100		1,033,967		1,144,466
	$	2,230,097	$	2,594,029	$	2,725,092

In the fourth fiscal quarter of 2011, Vishay made changes to its business model to streamline its sales process such that three main subsidiaries generate the majority of third-party sales.

The following table summarizes property and equipment based on physical location:

	December 31,
	2012		2011
United States	$	133,812	$	136,159
Germany		121,957		125,905
Czech Republic		51,620		53,126
Other Europe		98,534		97,212
Israel		140,994		125,885
People's Republic of China		169,395		178,877
Republic of China (Taiwan)		116,315		117,450
Other Asia		80,304		71,677
Other		1,621		1,614
	$	914,552	$	907,905