Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

The Company has provided this segment information for all comparable prior periods. Segment information is summarized as follows:

 

(in thousands)	2022		2021		2020
Net sales
Electronics	$	1,492,819	$	1,300,744	$	937,762
Transportation	716,140		528,058		395,764
Industrial	304,938		251,126		112,169
Total net sales	$	2,513,897	$	2,079,928	$	1,445,695
Depreciation and amortization
Electronics	$	68,195	$	61,512	$	62,702
Transportation	43,756		29,015		28,995
Industrial	8,755		8,108		4,481
Total depreciation and amortization	$	120,706	$	98,635	$	96,178
Operating income (loss)
Electronics	$	431,616	$	309,633	$	152,695
Transportation	63,539		65,979		41,655
Industrial	48,853		22,621		11,996
Other(a)	(43,182)		(12,591)		(43,974)
Total operating income	500,826		385,642		162,372
Interest expense	26,216		18,527		21,077
Foreign exchange loss (gain)	24,359		17,158		(14,875)
Other expense (income), net	7,207		8,932		(5,083)
Income before income taxes	$	443,044	$	341,025	$	161,253

(a) Included in “Other” Operating income (loss) for 2022 was $17.6 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, $15.6 million of purchase accounting inventory step-up charges, and $10.0 million of restructuring, impairment and other charges, primarily related to employee termination costs and a $2.9 million non-cash impairment charge for certain acquired technology and patent intangible assets due to a change in use and projected cash flows within the Electronics segment in the fourth quarter of 2022. See Note 8, Restructuring, Impairment and Other Charges, for further discussion.

Included in “Other” Operating income (loss) for 2021 was $8.4 million of purchase accounting inventory step-up charges, $7.0 million of legal and professional fees and other integration expenses related to Carling, Hartland and other contemplated acquisitions, and $2.2 million of restructuring, impairment and other charges, primarily related to employee termination costs. See Note 8, Restructuring, Impairment and Other Charges, for further discussion. In addition, there was a gain of $5.0 million recorded for the sale of buildings within the Electronics segment.

Included in “Other” Operating income (loss) for 2020 is $2.3 million of acquisition-related and integration charges related to the IXYS acquisition and other contemplated acquisitions. In addition, there were $41.7 million of restructuring, impairment and other charges, primarily related to the goodwill impairment charge of $33.8 million recorded in the second quarter associated with the automotive sensors reporting unit within the Transportation segment, employee termination costs of $5.5 million, $2.2 million of impairment charges recorded in the first quarter associated with the announced consolidation of a manufacturing facility within the Industrial segment and other restructuring charges of $0.2 million.

Schedule of disclosure on geographic areas, long-lived assets in individual foreign countries by country

The Company’s net sales, long-lived assets and additions to long-lived assets by country for the fiscal years ended 2022, 2021, and 2020 are as follows:

 

(in thousands)	2022		2021		2020
Net sales
U.S.	$	912,498	$	639,381	$	392,544
China	638,978		620,211		438,000
Other countries(a)	962,421		820,336		615,151
Total net sales	$	2,513,897	$	2,079,928	$	1,445,695
Long-lived assets
U.S.	$	76,325	$	57,923	$	46,132
China	129,094		122,867		85,876
Mexico	107,119		107,283		70,125
Germany	39,635		39,055		37,976
Philippines	77,240		74,918		66,994
Other countries	51,697		35,843		37,075
Total long-lived assets	$	481,110	$	437,889	$	344,178
Additions to long-lived assets
U.S.	$	14,603	$	7,690	$	4,170
China	35,297		26,396		10,074
Mexico	26,514		28,707		9,977
Germany	5,255		8,519		5,600
Philippines	14,847		19,342		19,612
Other countries	7,678		5,654		1,775
Total additions to long-lived assets	$	104,194	$	96,308	$	51,208

(a)Each country included in other countries are less than 10% of net sales.