Segment and Geographic Data

12 Months Ended

Dec. 31, 2015

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, goodwill and long-lived asset impairment charges, 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, 2015:
Product sales	$	426,672	$	533,931	$	279,553	$	704,109	$	352,900	$	-	$	2,297,165
Royalty revenues		11		-		-		3,312		-		-	$	3,323
Total revenue	$	426,683	$	533,931	$	279,553	$	707,421	$	352,900	$	-	$	2,300,488
Gross Profit	$	58,626	$	119,762	$	88,625	$	208,384	$	66,823	$	-	$	542,220
Depreciation expense	$	47,172	$	35,526	$	14,118	$	30,576	$	18,168	$	8,780	$	154,340
Interest expense (income)		-		11		20		113		13		25,528	$	25,685
Capital expenditures		29,289		38,971		21,853		38,169		14,763		4,097	$	147,142
Total Assets as of December 31, 2015:	$	477,984	$	718,548	$	325,600	$	839,249	$	543,507	$	248,098	$	3,152,986
Year ended December 31, 2014:
Product sales	$	470,377	$	579,288	$	258,248	$	755,251	$	425,593	$	-	$	2,488,757
Royalty revenues		160		-		-		4,365		-		-	$	4,525
Total revenue	$	470,537	$	579,288	$	258,248	$	759,616	$	425,593	$	-	$	2,493,282
Gross Profit	$	59,614	$	132,021	$	91,165	$	241,090	$	87,402	$	-	$	611,292
Depreciation expense	$	53,939	$	39,592	$	13,266	$	32,380	$	20,524	$	1,103	$	160,804
Interest expense (income)		-		21		41		119		18		24,258	$	24,457
Capital expenditures		33,672		41,713		23,008		42,950		12,694		2,937	$	156,974
Total Assets as of December 31, 2014*:	$	499,550	$	732,502	$	422,257	$	812,664	$	605,281	$	201,897	$	3,274,151
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 Profit	$	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	$	199,847	$	3,224,455

________________

*Recast due to retrospective adoption of accounting guidance.  See Note 1.

Note 15 –Segment and Geographic Data (continued)

	Years ended December 31,
	2015			2014			2013
Operating income reconciliation:
MOSFETs	$	21,366		$	21,095		$	19,140
Diodes		95,887			106,068			96,581
Optoelectronic Components		68,410			73,463			62,259
Resistors & Inductors		173,805			203,343			186,583
Capacitors		44,863			62,460			64,494
Restructuring and Severance Costs		(19,215	)		(20,897	)		(2,814	)
Impairment of goodwill and long-lived assets		(62,980	)		-			-
U.S. Pension Settlement Charges		-			(15,588	)		-
Executive Compensation Credit (Charges)		-			-			1,778
Unallocated Selling, General, and Administrative Expenses		(224,337	)		(240,833	)		(230,339	)
Consolidated Operating Income (Loss)	$	97,799		$	189,111		$	197,682

See Note 4 for restructuring and severance costs segment information.

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

	Years ended December 31,
	2015		2014		2013
United States	$	560,973	$	590,145	$	591,082
Germany		719,246		821,005		800,733
Other Europe		88,553		107,598		89,348
Israel		12,597		13,871		13,319
Asia		919,119		960,663		876,497
	$	2,300,488	$	2,493,282	$	2,370,979

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

	December 31,
	2015		2014
United States	$	94,512	$	116,807
Germany		122,817		124,850
Czech Republic		33,352		38,914
Other Europe		85,566		94,377
Israel		107,715		121,691
People's Republic of China		182,411		176,671
Republic of China (Taiwan)		126,780		127,354
Other Asia		109,815		95,263
Other		2,328		2,168
	$	865,296	$	898,095