Segment and Geographic Data

12 Months Ended

Dec. 31, 2013

Segment and Geographic Data [Abstract]

Segment and Geographic Data

Note 15 –Segment and Geographic Data

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, executive compensation charges (credits), material gains and losses on sales of property, 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		Corporate / Other		Total
Year ended December 31, 2013:
Product sales	$	449,299	$	547,264	$	228,194	$	700,115	$	439,745	$	-	$	2,364,617
Royalty revenues		178		-		51		6,133		-		-	$	6,362
Total revenue	$	449,477	$	547,264	$	228,245	$	706,248	$	439,745	$	-	$	2,370,979
Gross Margin	$	59,387	$	121,231	$	76,732	$	221,851	$	88,059	$	-	$	567,260
Depreciation expense	$	50,606	$	37,305	$	12,484	$	31,998	$	21,596	$	1,075	$	155,064
Interest expense (income)		-		54		122		79		28		22,847	$	23,130
Capital expenditures		41,869		44,431		18,310		32,515		13,052		2,900	$	153,077
Total Assets as of December 31, 2013:	$	543,037	$	788,121	$	213,128	$	843,685	$	636,637	$	212,531	$	3,237,139
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

Note 15 –Segment and Geographic Data (continued)

	Years ended December 31,
	2013			2012			2011
Operating margin reconciliation:
MOSFETs	$	19,140		$	17,198		$	85,336
Diodes		96,581			75,733			118,111
Optoelectronic Components		62,259			54,632			60,492
Resistors & Inductors		186,583			172,129			185,327
Capacitors		64,494			76,858			136,901
Restructuring and Severance Costs		(2,814	)		-			-
Gain on Sale of Property		-			12,153			-
Executive Compensation Credit (Charges)		1,778			-			(5,762	)
Unallocated Selling, General, and Administrative Expenses		(230,339	)		(219,502	)		(233,804	)
Consolidated Operating Income (Loss)	$	197,682		$	189,201		$	346,601

See Note 4 for restructuring and severance costs segment information.

Note 15 –Segment and Geographic Data (continued)

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

	Years ended December 31,
	2013		2012		2011
United States	$	591,082	$	568,849	$	363,847
Germany		800,733		775,204		801,539
Other Europe		89,348		61,236		175,639
Israel		13,319		14,708		219,037
Asia		876,497		810,100		1,033,967
	$	2,370,979	$	2,230,097	$	2,594,029

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,
	2013		2012
United States	$	123,812	$	133,812
Germany		130,854		121,957
Czech Republic		47,002		51,620
Other Europe		107,381		98,534
Israel		138,741		140,994
People's Republic of China		172,274		169,395
Republic of China (Taiwan)		120,368		116,315
Other Asia		84,388		80,304
Other		1,799		1,621
	$	926,619	$	914,552