Universal Electronics (UEIC) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Annual Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	0-21044
Entity Registrant Name	UNIVERSAL ELECTRONICS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0204817
Entity Address, Address Line One	15147 N. Scottsdale Road, Suite H300
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85254-2494
City Area Code	480
Local Phone Number	530-3000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	UEIC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,483,554
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000101984

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 67,690	$ 57,153
Accounts receivable, net	134,994	129,433
Contract assets	9,585	9,685
Inventories	121,430	120,430
Prepaid expenses and other current assets	6,901	6,828
Income tax receivable	3,650	3,314
Total current assets	344,250	326,843
Property, plant and equipment, net	82,485	87,285
Goodwill	48,555	48,614
Intangible assets, net	19,923	19,710
Operating lease right-of-use assets	19,098	19,522
Deferred income taxes	4,571	5,564
Other assets	2,502	2,752
Total assets	521,384	510,290
Current liabilities:
Accounts payable	90,079	83,229
Line of credit	46,000	20,000
Accrued compensation	24,207	28,931
Accrued sales discounts, rebates and royalties	6,597	10,758
Accrued income taxes	1,027	3,535
Other accrued liabilities	29,046	33,057
Total current liabilities	196,956	179,510
Long-term liabilities:
Operating lease obligations	13,197	13,681
Contingent consideration	0	292
Deferred income taxes	2,477	1,913
Income tax payable	1,054	1,054
Other long-term liabilities	332	539
Total liabilities	214,016	196,989
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value, 50,000,000 shares authorized; 24,603,638 and 24,391,595 shares issued on June 30, 2021 and December 31, 2020, respectively	246	244
Paid-in capital	309,072	302,084
Treasury stock, at cost, 11,128,717 and 10,618,002 shares on June 30, 2021 and December 31, 2020, respectively	(322,179)	(295,495)
Accumulated other comprehensive income (loss)	(17,347)	(18,522)
Retained earnings	337,576	324,990
Total stockholders' equity	307,368	313,301
Total liabilities and stockholders' equity	$ 521,384	$ 510,290

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	24,603,638	24,391,595
Treasury stock, shares (in shares)	11,128,717	10,618,002

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net sales	$ 150,491	$ 153,133	$ 301,033	$ 304,911
Cost of sales	105,829	115,058	209,972	223,895
Gross profit	44,662	38,075	91,061	81,016
Research and development expenses	7,676	7,385	15,618	15,283
Selling, general and administrative expenses	27,965	24,230	57,811	51,227
Operating income	9,021	6,460	17,632	14,506
Interest income (expense), net	(127)	(372)	(235)	(1,004)
Accrued social insurance adjustment	0	9,464	0	9,464
Other income (expense), net	(17)	731	6	383
Income before provision for income taxes	8,877	16,283	17,403	23,349
Provision for income taxes	3,284	1,883	4,817	3,103
Net income	$ 5,593	$ 14,400	$ 12,586	$ 20,246
Earnings per share:
Basic (in dollars per share)	$ 0.41	$ 1.03	$ 0.92	$ 1.45
Diluted (in dollars per share)	$ 0.40	$ 1.02	$ 0.89	$ 1.43
Shares used in computing earnings per share:
Basic (in shares)	13,672	13,915	13,737	13,938
Diluted (in shares)	13,926	14,151	14,062	14,181

CONSOLIDATED COMPREHENSIVE INCO

CONSOLIDATED COMPREHENSIVE INCOME (LOSS) STATEMENTS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 5,593	$ 14,400	$ 12,586	$ 20,246
Other comprehensive income (loss):
Change in foreign currency translation adjustment	4,043	(770)	1,175	(7,779)
Comprehensive income	$ 9,636	$ 13,630	$ 13,761	$ 12,467

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock Issued	Common Stock in Treasury	Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2019		24,118	(10,174)
Beginning balance at Dec. 31, 2019	$ 274,399	$ 241	$ (277,817)	$ 288,338	$ (22,781)	$ 286,418
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,846					5,846
Currency translation adjustment	(7,009)				(7,009)
Shares issued for employee benefit plan and compensation (in shares)		129
Shares issued for employee benefit plan and compensation	527	$ 1		526
Purchase of treasury shares (in shares)			(169)
Purchase of treasury shares	(6,291)		$ (6,291)
Shares issued to directors (in shares)		9
Shares issued to directors	0	$ 1		(1)
Employee and director stock-based compensation	2,303			2,303
Performance-based common stock warrants	184			184
Ending balance (in shares) at Mar. 31, 2020		24,256	(10,343)
Ending balance at Mar. 31, 2020	269,959	$ 243	$ (284,108)	291,350	(29,790)	292,264
Beginning balance (in shares) at Dec. 31, 2019		24,118	(10,174)
Beginning balance at Dec. 31, 2019	274,399	$ 241	$ (277,817)	288,338	(22,781)	286,418
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,246
Currency translation adjustment	$ (7,779)
Purchase of treasury shares (in shares)	(172)
Purchase of treasury shares	$ (6,405)
Ending balance (in shares) at Jun. 30, 2020		24,269	(10,346)
Ending balance at Jun. 30, 2020	286,132	$ 243	$ (284,222)	294,007	(30,560)	306,664
Beginning balance (in shares) at Mar. 31, 2020		24,256	(10,343)
Beginning balance at Mar. 31, 2020	269,959	$ 243	$ (284,108)	291,350	(29,790)	292,264
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,400					14,400
Currency translation adjustment	(770)				(770)
Shares issued for employee benefit plan and compensation (in shares)		13
Shares issued for employee benefit plan and compensation	212			212
Purchase of treasury shares (in shares)			(3)
Purchase of treasury shares	(114)		$ (114)
Employee and director stock-based compensation	2,291			2,291
Performance-based common stock warrants	154			154
Ending balance (in shares) at Jun. 30, 2020		24,269	(10,346)
Ending balance at Jun. 30, 2020	286,132	$ 243	$ (284,222)	294,007	(30,560)	306,664
Beginning balance (in shares) at Dec. 31, 2020		24,392	(10,618)
Beginning balance at Dec. 31, 2020	313,301	$ 244	$ (295,495)	302,084	(18,522)	324,990
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,993					6,993
Currency translation adjustment	(2,868)				(2,868)
Shares issued for employee benefit plan and compensation (in shares)		160
Shares issued for employee benefit plan and compensation	410	$ 2		408
Purchase of treasury shares (in shares)			(191)
Purchase of treasury shares	(10,951)		$ (10,951)
Stock options exercised (in shares)		22
Stock options exercised	991			991
Shares issued to directors (in shares)		7
Shares issued to directors	0
Employee and director stock-based compensation	2,600			2,600
Performance-based common stock warrants	143			143
Ending balance (in shares) at Mar. 31, 2021		24,581	(10,809)
Ending balance at Mar. 31, 2021	310,619	$ 246	$ (306,446)	306,226	(21,390)	331,983
Beginning balance (in shares) at Dec. 31, 2020		24,392	(10,618)
Beginning balance at Dec. 31, 2020	313,301	$ 244	$ (295,495)	302,084	(18,522)	324,990
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,586
Currency translation adjustment	$ 1,175
Purchase of treasury shares (in shares)	(511)
Purchase of treasury shares	$ (26,684)
Stock options exercised (in shares)	22
Ending balance (in shares) at Jun. 30, 2021		24,604	(11,129)
Ending balance at Jun. 30, 2021	$ 307,368	$ 246	$ (322,179)	309,072	(17,347)	337,576
Beginning balance (in shares) at Mar. 31, 2021		24,581	(10,809)
Beginning balance at Mar. 31, 2021	310,619	$ 246	$ (306,446)	306,226	(21,390)	331,983
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,593					5,593
Currency translation adjustment	4,043				4,043
Shares issued for employee benefit plan and compensation (in shares)		15
Shares issued for employee benefit plan and compensation	271			271
Purchase of treasury shares (in shares)			(320)
Purchase of treasury shares	(15,733)		$ (15,733)
Shares issued to directors (in shares)		8
Shares issued to directors	0
Employee and director stock-based compensation	2,444			2,444
Performance-based common stock warrants	131			131
Ending balance (in shares) at Jun. 30, 2021		24,604	(11,129)
Ending balance at Jun. 30, 2021	$ 307,368	$ 246	$ (322,179)	$ 309,072	$ (17,347)	$ 337,576

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 12,586	$ 20,246
Adjustments to reconcile net income to net cash used for operating activities:
Depreciation and amortization	13,128	15,663
Provision for credit losses	1	240
Deferred income taxes	1,637	1,275
Shares issued for employee benefit plan	681	739
Employee and director stock-based compensation	5,044	4,594
Performance-based common stock warrants	274	338
Impairment of long-term assets	0	50
Accrued social insurance adjustment	0	(9,464)
Loss on sale of Ohio call center	0	712
Changes in operating assets and liabilities:
Accounts receivable and contract assets	(6,241)	(848)
Inventories	(1,076)	9,571
Prepaid expenses and other assets	625	1,947
Accounts payable and accrued liabilities	(7,338)	(40,869)
Accrued income taxes	(2,837)	293
Net cash provided by operating activities	16,484	4,487
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(6,206)	(6,210)
Acquisitions of intangible assets	(1,907)	(3,077)
Payment on sale of Ohio call center	0	(500)
Net cash used for investing activities	(8,113)	(9,787)
Cash flows from financing activities:
Borrowings under line of credit	41,000	50,000
Repayments on line of credit	(15,000)	(45,000)
Proceeds from stock options exercised	991	0
Treasury stock purchased	(26,684)	(6,405)
Contingent consideration payments in connection with business combinations	0	(3,091)
Net cash provided by (used for) financing activities	307	(4,496)
Effect of foreign currency exchange rates on cash and cash equivalents	1,859	(5,674)
Net increase (decrease) in cash and cash equivalents	10,537	(15,470)
Cash and cash equivalents at beginning of period	57,153	74,302
Cash and cash equivalents at end of period	67,690	58,832
Supplemental cash flow information:
Income taxes paid	5,663	2,215
Interest paid	$ 202	$ 1,069

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying consolidated financial statements of Universal Electronics Inc. and its subsidiaries contain all the adjustments necessary for a fair presentation of financial position, results of operations and cash flows for the periods presented. All such adjustments are of a normal recurring nature. Information and footnote disclosures normally included in financial statements, which are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). As used herein, the terms "Company," "we," "us," and "our" refer to Universal Electronics Inc. and its subsidiaries, unless the context indicates to the contrary. Our results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Quantitative and Qualitative Disclosures About Market Risk," and the "Financial Statements and Supplementary Data" included in Items 1A, 7, 7A, and 8, respectively, of our Annual Report on Form 10-K for the year ended December 31, 2020. Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, we evaluate our estimates and assumptions, including those related to revenue recognition; allowance for credit losses; inventory valuation; impairment of long-lived assets, intangible assets and goodwill; business combinations; income taxes and related valuation allowances; stock-based compensation expense and performance-based common stock warrants. The coronavirus ("COVID-19") pandemic and the mitigation efforts by governments to attempt to control its spread have created uncertainties and disruptions in the economic and financial markets. While we are not currently aware of events or circumstances that would require an update to our estimates, judgments or adjustments to the carrying values of our assets or liabilities, these estimates may change as developments occur and we obtain additional information. These future developments are highly uncertain and the outcomes are unpredictable. Actual results may differ from those estimates, and such differences may be material to the financial statements. Summary of Significant Accounting Policies With the exception of the following policy, our significant accounting policies are unchanged from those disclosed in Note 2 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. Revenue Recognition We license our symbolic intellectual property which includes our patented technologies and database of control codes. Revenue is recognized for these licensing arrangements on an over-time basis. We record license revenue for per-unit based licenses when our customers manufacture or ship a product incorporating our intellectual property and we have a present right to payment. We record per-unit-based licenses with minimum guarantees ratably over the license period to which the minimum guarantee relates and any per-unit sales in excess of the minimum guarantee in the period in which the sale occurs. We record licenses with fixed consideration ratably over the license period. Tiered royalties are recorded on a straight-line basis according to the forecasted per-unit fees taking into account the pricing tiers. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes", which, among other provisions, eliminates certain exceptions to existing guidance related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also requires an entity to reflect the effect of an enacted change in tax laws or rates in its effective income tax rate in the first interim period that includes the enactment date of the new legislation, aligning the timing of recognition of the effects from enacted tax law changes on the effective income tax rate with the effects on deferred income tax assets and liabilities. Under previous guidance, an entity recognized the effects of the enacted tax law change on the effective income tax rate in the period that included the effective date of the tax law. Our adoption on January 1, 2021 did not have a material impact on our consolidated statement of financial position, results of operations and cash flows. Recent Accounting Updates Not Yet Effective In March 2020, the FASB issued ASU 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting" and in January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform". This guidance is intended to provide temporary optional expedients and exceptions to GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The amendments in these ASUs are elective and are effective upon issuance for all entities through December 31, 2022. These amendments are not expected to have a material impact on our consolidated statement of financial position, results of operations and cash flows.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents were held in the following geographic regions: (In thousands) June 30, 2021 December 31, 2020 North America $ 6,473 $ 9,812 People's Republic of China ("PRC") 18,614 14,244 Asia (excluding the PRC) 10,382 13,518 Europe 22,021 10,926 South America 10,200 8,653 Total cash and cash equivalents $ 67,690 $ 57,153

Revenue and Accounts Receivable

Revenue and Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Revenue and Accounts Receivable, Net	Revenue and Accounts Receivable, Net Revenue Details The pattern of revenue recognition was as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Goods and services transferred at a point in time $ 119,503 $ 121,187 $ 242,391 $ 238,245 Goods and services transferred over time 30,988 31,946 58,642 66,666 Net sales $ 150,491 $ 153,133 $ 301,033 $ 304,911 Our net sales to external customers by geographic area were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 United States $ 51,322 $ 65,233 $ 101,614 $ 139,614 Asia (excluding PRC) 31,608 30,295 65,824 58,120 Europe 31,640 26,004 59,167 46,506 People's Republic of China 23,489 20,511 47,829 38,028 Latin America 5,368 3,466 11,512 8,106 Other 7,064 7,624 15,087 14,537 Total net sales $ 150,491 $ 153,133 $ 301,033 $ 304,911 Specific identification of the customer billing location was the basis used for attributing revenues from external customers to geographic areas. Net sales to the following customers totaled more than 10% of our net sales: Three Months Ended June 30, 2021 2020 $ (thousands) % of Net Sales $ (thousands) % of Net Sales Comcast Corporation $ 24,699 16.4 % $ 29,546 19.3 % Daikin Industries Ltd. $ 16,448 10.9 % $ 16,457 10.7 % Six Months Ended June 30, 2021 2020 $ (thousands) % of Net Sales $ (thousands) % of Net Sales Comcast Corporation $ 51,900 17.2 % $ 62,481 20.5 % Daikin Industries Ltd. $ 33,885 11.3 % $ — (1) — % (1) (1) Sales associated with this customer did not total more than 10% of our net sales for the indicated period. Accounts Receivable, Net Accounts receivable, net were as follows: (In thousands) June 30, 2021 December 31, 2020 Trade receivables, gross $ 126,997 $ 122,828 Allowance for credit losses (1,372) (1,412) Allowance for sales returns (465) (761) Trade receivables, net 125,160 120,655 Other 9,834 8,778 Accounts receivable, net $ 134,994 $ 129,433 Allowance for Credit Losses Changes in the allowance for credit losses were as follows: (In thousands) Six Months Ended June 30, 2021 2020 Balance at beginning of period $ 1,412 $ 1,492 Additions to costs and expenses 1 240 Write-offs/Foreign exchange effects (41) (35) Balance at end of period $ 1,372 $ 1,697 Trade receivables associated with this significant customer that totaled more than 10% of our accounts receivable, net were as follows: June 30, 2021 December 31, 2020 $ (thousands) % of Accounts Receivable, Net $ (thousands) % of Accounts Receivable, Net Comcast Corporation $ 22,908 17.0 % $ 19,782 15.3 %

Inventories and Significant Sup

Inventories and Significant Supplier	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories and Significant Supplier	Inventories and Significant Supplier Inventories were as follows: (In thousands) June 30, 2021 December 31, 2020 Raw materials $ 45,072 $ 44,273 Components 24,631 16,954 Work in process 5,753 6,211 Finished goods 45,974 52,992 Inventories $ 121,430 $ 120,430 Significant Supplier Purchases from the following supplier totaled more than 10% of our total inventory purchases: Three Months Ended June 30, 2021 2020 $ (thousands) % of Total Inventory Purchases $ (thousands) % of Total Inventory Purchases Qorvo International Pte Ltd. $ 9,840 11.9 % $ 10,030 13.1 % Six Months Ended June 30, 2021 2020 $ (thousands) % of Total Inventory Purchases $ (thousands) % of Total Inventory Purchases Qorvo International Pte Ltd. $ 19,613 12.3 % $ 21,207 13.6 %

Long-lived Tangible Assets

Long-lived Tangible Assets	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Long-lived Tangible Assets	Long-lived Tangible Assets Long-lived tangible assets by geographic area, which include property, plant, and equipment, net and operating lease right-of-use assets, were as follows: (In thousands) June 30, 2021 December 31, 2020 United States $ 15,691 $ 15,411 People's Republic of China 60,815 64,197 Mexico 21,475 22,410 All other countries 3,602 4,789 Total long-lived tangible assets $ 101,583 $ 106,807 Property, plant, and equipment are shown net of accumulated depreciation of $161.8 million and $154.2 million at June 30, 2021 and December 31, 2020, respectively.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill Changes in the carrying amount of goodwill were as follows: (In thousands) Balance at December 31, 2020 $ 48,614 Foreign exchange effects (59) Balance at June 30, 2021 $ 48,555 Intangible Assets, Net The components of intangible assets, net were as follows: June 30, 2021 December 31, 2020 (In thousands) Gross (1) Accumulated Amortization (1) Net Gross (1) Accumulated Amortization (1) Net Capitalized software development costs $ 871 $ (8) $ 863 $ 477 $ — $ 477 Customer relationships 8,100 (4,682) 3,418 8,100 (4,329) 3,771 Developed and core technology 4,080 (3,189) 891 4,080 (3,044) 1,036 Distribution rights 342 (268) 74 352 (261) 91 Patents 22,692 (8,269) 14,423 21,601 (7,574) 14,027 Trademarks and trade names 800 (546) 254 800 (492) 308 Total intangible assets, net $ 36,885 $ (16,962) $ 19,923 $ 35,410 $ (15,700) $ 19,710 (1) This table excludes the gross value of fully amortized intangible assets totaling $43.0 million and $42.7 million at June 30, 2021 and December 31, 2020, respectively. Amortization expense is recorded in selling, general and administrative expenses, except amortization expense related to capitalized software development costs, which is recorded in cost of sales. Amortization expense by statement of operations caption was as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of sales $ 4 $ — $ 8 $ — Selling, general and administrative expenses 712 1,906 1,546 3,720 Total amortization expense $ 716 $ 1,906 $ 1,554 $ 3,720 Estimated future annual amortization expense related to our intangible assets at June 30, 2021, was as follows: (In thousands) 2021 (remaining 6 months) $ 1,701 2022 3,733 2023 3,571 2024 2,570 2025 2,301 Thereafter 6,047 Total $ 19,923

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases We have entered into various operating lease agreements for automobiles, offices and manufacturing facilities throughout the world. At June 30, 2021, our operating leases had remaining lease terms of up to 39 years, including any reasonably probable extensions. Lease balances within our consolidated balance sheet were as follows: (In thousands) June 30, 2021 December 31, 2020 Assets: Operating lease right-of-use assets $ 19,098 $ 19,522 Liabilities: Other accrued liabilities $ 5,067 $ 6,094 Long-term operating lease obligations 13,197 13,681 Total lease liabilities $ 18,264 $ 19,775 Operating lease expense, including variable and short-term lease costs, which were insignificant to the total operating lease cash flows and supplemental cash flow information were as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of sales $ 628 $ 382 $ 1,298 $ 772 Selling, general and administrative expenses 1,023 1,020 2,059 2,018 Total operating lease expense $ 1,651 $ 1,402 $ 3,357 $ 2,790 Operating cash outflows from operating leases $ 1,585 $ 1,543 $ 3,383 $ 3,068 Operating lease right-of-use assets obtained in exchange for lease obligations $ 2,711 $ — $ 3,009 $ 186 Non-cash release of operating lease obligations (1) $ — $ — $ 654 $ — (1) During the six months ended June 30, 2021, we were released from our guarantee of the lease obligation related to our Ohio call center which was sold in February 2020. The weighted average remaining lease liability term and the weighted average discount rate were as follows: June 30, 2021 December 31, 2020 Weighted average lease liability term (in years) 4.1 3.7 Weighted average discount rate 3.37 % 3.84 % The following table reconciles the undiscounted cash flows for each of the first five years and thereafter to the operating lease liabilities recognized in our consolidated balance sheet at June 30, 2021. The reconciliation excludes short-term leases that are not recorded on the balance sheet. (In thousands) June 30, 2021 2021 (remaining 6 months) $ 2,779 2022 5,584 2023 3,990 2024 2,690 2025 2,240 Thereafter 2,317 Total lease payments 19,600 Less: imputed interest (1,336) Total lease liabilities $ 18,264 At June 30, 2021, we had four operating leases with four-year terms that had not yet commenced. The total initial lease liability, which is immaterial to the balance sheet, is not reflected within the above maturity schedule.

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Line of Credit	Line of Credit Our Second Amended and Restated Credit Agreement ("Second Amended Credit Agreement") with U.S. Bank National Association ("U.S. Bank") provides for a $125.0 million revolving line of credit ("Credit Line") that expires on November 1, 2022. The Credit Line may be used for working capital and other general corporate purposes including acquisitions, share repurchases and capital expenditures. Amounts available for borrowing under the Credit Line are reduced by the balance of any outstanding letters of credit, of which there were $2.7 million at June 30, 2021 and December 31, 2020. All obligations under the Credit Line are secured by substantially all of our U.S. personal property and tangible and intangible assets as well as 65% of our ownership interest in Enson Assets Limited, our wholly-owned subsidiary which controls our manufacturing factories in the PRC. Under the Second Amended Credit Agreement, we may elect to pay interest on the Credit Line based on LIBOR plus an applicable margin (varying from 1.25% to 1.75%) or base rate (based on the prime rate of U.S. Bank or as otherwise specified in the Second Amended Credit Agreement) plus an applicable margin (varying from 0.00% to 0.50%). The applicable margins are calculated quarterly and vary based on our cash flow leverage ratio as set forth in the Second Amended Credit Agreement. The interest rates in effect at June 30, 2021 and December 31, 2020 were 1.35% and 1.39%, respectively. There are no commitment fees or unused line fees under the Second Amended Credit Agreement. On December 31, 2021, the process of cessation of LIBOR as a reference rate will begin. LIBOR may continue to be used for new and existing borrowings on the Credit Line through December 31, 2021. After that date, new borrowings will no longer use LIBOR as a reference rate. Instead, these borrowings will be subject to an interest rate based on either the Secured Overnight Financing Rate ("SOFR"), which is deemed a replacement benchmark for LIBOR under the Second Amended Credit Agreement, or an alternate index to be agreed upon. Between December 31, 2021 and June 30, 2023, any legacy borrowings may continue to use LIBOR as the basis for interest rates. After June 30, 2023, all borrowings will be based on SOFR or the alternate index. The Second Amended Credit Agreement includes financial covenants requiring a minimum fixed charge coverage ratio and a maximum cash flow leverage ratio. In addition, the Second Amended Credit Agreement contains other customary affirmative and negative covenants and events of default. At June 30, 2021, we were in compliance with the covenants and conditions of the Second Amended Credit Agreement. At June 30, 2021 and December 31, 2020, we had $46.0 million and $20.0 million outstanding under the Credit Line, respectively. Our total interest expense on borrowings was $0.2 million and $0.4 million during the three months ended June 30, 2021 and 2020, respectively. Our total interest expense on borrowings was $0.3 million and $1.1 million during the six months ended June 30, 2021 and 2020, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We utilize our estimated annual effective tax rate to determine our provision for income taxes for interim periods. The income tax provision is computed by taking the estimated annual effective rate and multiplying it by the year-to-date pre-tax book income. We recorded income tax expense of $3.3 million and $1.9 million for the three months ended June 30, 2021 and 2020, respectively. We recorded income tax expense of $4.8 million and $3.1 million for the six months ended June 30, 2021 and 2020, respectively. The income tax expense for the six months ended June 30, 2021 increased primarily due to the mix of pre-tax income among jurisdictions, including losses not benefited as a result of a valuation allowance. In addition, the tax incentive refund received in China during the six months ended June 30, 2021 was less than the refund received during the six months ended June 30, 2020. During the six months ended June 30, 2020, we recognized a reversal of uncertain tax positions related to our Guangzhou entity, which was sold in June 2018. The indemnification agreement related to the sale of our Guangzhou entity expired in June 2020. At December 31, 2020, we assessed the realizability of our deferred tax assets by considering whether it is "more likely than not" some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. We considered taxable income in carryback years, the scheduled reversal of deferred tax liabilities, tax planning strategies and projected future taxable income in making this assessment. At December 31, 2020, we had a three-year cumulative operating loss for our U.S. operations and accordingly, have provided a full valuation allowance on our U.S. federal and state deferred tax assets. During the six months ended June 30, 2021, there was no change to our valuation allowance position. At June 30, 2021, we had gross unrecognized tax benefits of $3.2 million, including interest and penalties, which, if not for the state Research and Experimentation income tax credit valuation allowance, would affect the annual effective tax rate if these tax benefits are realized. Further, we are unaware of any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase within the next twelve months. Based on federal, state and foreign statute expirations in various jurisdictions, we do not anticipate a decrease in unrecognized tax benefits within the next twelve months. We have classified uncertain tax positions as non-current income tax liabilities unless they are expected to be paid within one year. We have elected to classify interest and penalties as a component of tax expense. Accrued interest and penalties are immaterial at June 30, 2021 and December 31, 2020 and are included in the unrecognized tax benefits.

Accrued Compensation

Accrued Compensation	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued Compensation	Accrued CompensationIn June 2018, we sold our Guangzhou entity via a stock deal and the terms of the agreement included a two-year indemnification period. In June 2020, the indemnification period expired and we determined we were no longer legally liable for any liabilities associated with our Guangzhou entity. Accordingly, we reversed the accrued social insurance by the amount associated with the Guangzhou entity, which was approximately $9.5 million. The components of accrued compensation were as follows: (In thousands) June 30, 2021 December 31, 2020 Accrued bonus $ 3,198 $ 7,602 Accrued commission 737 1,779 Accrued salary/wages 7,243 7,107 Accrued social insurance (1) 7,445 7,375 Accrued vacation/holiday 3,508 3,307 Other accrued compensation 2,076 1,761 Total accrued compensation $ 24,207 $ 28,931 (1) PRC employers are required by law to remit the applicable social insurance payments to their local government. Social insurance is comprised of various components such as pension, medical insurance, job industry insurance, unemployment insurance, and a housing assistance fund, and is administered in a manner similar to social security in the United States. This amount represents our estimate of the amounts due to the PRC government for social insurance on June 30, 2021 and December 31, 2020. The components of other accrued liabilities were as follows: (In thousands) June 30, 2021 December 31, 2020 Duties $ 4,215 $ 4,469 Expense associated with fulfilled performance obligations 1,301 1,372 Freight and handling fees 3,008 2,218 Operating lease obligations 5,067 6,094 Product warranty claims costs 1,351 1,721 Professional fees 3,897 3,794 Sales and value added taxes 4,459 5,118 Short-term contingent consideration 87 1,758 Other (1) 5,661 6,513 Total other accrued liabilities $ 29,046 $ 33,057 (1) Includes $0.4 million and $0.3 million of contract liabilities at June 30, 2021 and December 31, 2020, respectively.

Other Accrued Liabilities

Other Accrued Liabilities	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Other Accrued Liabilities	Accrued CompensationIn June 2018, we sold our Guangzhou entity via a stock deal and the terms of the agreement included a two-year indemnification period. In June 2020, the indemnification period expired and we determined we were no longer legally liable for any liabilities associated with our Guangzhou entity. Accordingly, we reversed the accrued social insurance by the amount associated with the Guangzhou entity, which was approximately $9.5 million. The components of accrued compensation were as follows: (In thousands) June 30, 2021 December 31, 2020 Accrued bonus $ 3,198 $ 7,602 Accrued commission 737 1,779 Accrued salary/wages 7,243 7,107 Accrued social insurance (1) 7,445 7,375 Accrued vacation/holiday 3,508 3,307 Other accrued compensation 2,076 1,761 Total accrued compensation $ 24,207 $ 28,931 (1) PRC employers are required by law to remit the applicable social insurance payments to their local government. Social insurance is comprised of various components such as pension, medical insurance, job industry insurance, unemployment insurance, and a housing assistance fund, and is administered in a manner similar to social security in the United States. This amount represents our estimate of the amounts due to the PRC government for social insurance on June 30, 2021 and December 31, 2020. The components of other accrued liabilities were as follows: (In thousands) June 30, 2021 December 31, 2020 Duties $ 4,215 $ 4,469 Expense associated with fulfilled performance obligations 1,301 1,372 Freight and handling fees 3,008 2,218 Operating lease obligations 5,067 6,094 Product warranty claims costs 1,351 1,721 Professional fees 3,897 3,794 Sales and value added taxes 4,459 5,118 Short-term contingent consideration 87 1,758 Other (1) 5,661 6,513 Total other accrued liabilities $ 29,046 $ 33,057 (1) Includes $0.4 million and $0.3 million of contract liabilities at June 30, 2021 and December 31, 2020, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties Changes in the liability for product warranty claims costs were as follows: (In thousands) Six Months Ended June 30, 2021 2020 Balance at beginning of period $ 1,721 $ 1,514 Accruals for warranties issued during the period 46 578 Settlements (in cash or in kind) during the period (386) (312) Foreign currency translation gain (loss) (30) 2 Balance at end of period $ 1,351 $ 1,782 Litigation Roku Matters 2018 Lawsuit On September 5, 2018, we filed a lawsuit against Roku, Inc. ("Roku") in the United States District Court, Central District of California, alleging that Roku is willfully infringing nine of our patents that are in four patent families related to remote control set-up and touchscreen remotes. On December 5, 2018, we amended our complaint to add additional details supporting our infringement and willfulness allegations. We have alleged that this complaint relates to multiple Roku streaming players and components therefor and certain universal control devices, including but not limited to the Roku App, Roku TV, Roku Express, Roku Streaming Stick, Roku Ultra, Roku Premiere, Roku 4, Roku 3, Roku 2, Roku Enhanced Remote and any other Roku product that provides for the remote control of an external device such as a TV, audiovisual receiver, sound bar or Roku TV Wireless Speakers. In October 2019, the Court stayed this lawsuit pending action by the Patent Trial and Appeals Board (the "PTAB") with respect to Roku's Inter Partes Review ("IPR") requests (see discussion below). This lawsuit continues to be stayed until such time as the IPR requests and all appeals with respect to them have concluded. International Trade Commission Investigation of Roku, TCL, Hisense and Funai On April 16, 2020, we filed a complaint with the International Trade Commission (the "ITC") against Roku, TCL Electronics Holding Limited and related entities (collectively, "TCL"), Hisense Co., Ltd. and related entities (collectively, "Hisense"), and Funai Electric Company, Ltd. and related entities (collectively, "Funai") claiming that certain of their televisions, set-top boxes, remote control devices, human interface devices, streaming devices, and sound bars infringe certain of our patents. We asked the ITC to issue a permanent limited exclusion order prohibiting the importation of these infringing products into the United States and a cease and desist order to stop these parties from continuing their infringing activities. On May 18, 2020, the ITC announced that it instituted its investigation as requested by us. Prior to the trial, which ended on April 23, 2021, we released TCL, Hisense and Funai from this investigation as they removed our technology from their televisions. On July 9, 2021, the Administrative Law Judge issued his Initial Determination (the "ID") finding that Roku is infringing our patents and as a result is in violation of §337 of the Tariff Act of 1930, as amended. On July 23, 2021, Roku and we filed petitions to appeal certain portions of the ID. This ID, including those matters for which we and Roku appealed, is to be reviewed by the full ITC by November 10, 2021. 2020 Lawsuit As a companion case to our ITC complaint, on April 9, 2020, we filed separate actions against each of Roku, TCL, Hisense, and Funai in the United States District Court, Central District of California, alleging that Roku is willfully infringing five of our patents and TCL, Hisense, and Funai are willfully infringing six of our patents by incorporating our patented technology into certain of their televisions, set-top boxes, remote control devices, human interface devices, streaming devices, and sound bars. These matters have been and continue to be stayed pending the final results of the ITC investigation mentioned above. Inter Partes Reviews Throughout these litigation matters against Roku and the others identified above, Roku has filed multiple IPR requests with the PTAB on all patents at issue in the 2018 Lawsuit, the ITC Action, and the 2020 Lawsuit (see discussion above). To date, the PTAB has denied Roku's request eleven times, granted Roku's request seven times and we are awaiting the PTAB's institution decision with respect to the remaining two IPR requests. Of the seven IPR requests granted by the PTAB, the results were mixed, with the PTAB validating many of our patent claims and invalidating others. We have and will appeal any PTAB decisi on that resulted i n an invalidation of our patent claims. International Trade Commission Investigation Request Made by Roku against UEI and certain UEI Customers On April 8, 2021, Roku made a request to the ITC to initiate an investigation against us and certain of our customers claiming that certain of our and those customers’ remote control devices and televisions infringe two of Roku’s recently acquired patents. On May 10, 2021, the ITC announced its decision to initiate the requested investigation. We will vigorously defend against the allegations made by Roku in this investigation and to this end, we have entered into a joint defense agreement with our customers wherein we will lead the defense of this investigation. Discovery recently commenced with discovery cutoff set for November 21, 2021, the trial set for January 19, 2022, the ID set for June 28, 2022 and the full commission review set for October 28, 2022. As a companion to its ITC request, Roku also filed a lawsuit against us and certain of our customers in Federal District Court in the Central District of California alleging that we are infringing the same patents they alleged being infringed in the ITC investigation explained above. This District Court case has been and will continue to be stayed pending the conclusion of the ITC investigation. Court of International Trade Action against the United States of America, et. al. On October 9, 2020, we and our subsidiaries, Ecolink Intelligent Technology, Inc. ("Ecolink") and RCS Technology, LLC ("RCS"), filed an amended complaint (20-cv-00670) in the Court of International Trade (the "CIT") against the United States of America; the Office of the United States Trade Representative; Robert E. Lighthizer, U.S. Trade Representative; U.S. Customs & Border Protection; and Mark A. Morgan, U.S. Customs & Border Protection Acting Commissioner, challenging both the substantive and procedural processes followed by the United States Trade Representative ("USTR") when instituting Section 301 Tariffs on imports from China under Lists 3 and 4A. Pursuant to this complaint, we, Ecolink and RCS are alleging that USTR's institution of Lists 3 and 4A tariffs violated the Trade Act of 1974 (the "Trade Act") on the grounds that the USTR failed to make a determination or finding that there was an unfair trade practice that required a remedy and moreover, that Lists 3 and 4A tariffs were instituted beyond the 12-month time limit provided for in the governing statute. We, Ecolink and RCS also allege that the manner in which the Lists 3 and 4A tariff actions were implemented violated the Administrative Procedures Act (the "APA") by failing to provide adequate opportunity for comments, failed to consider relevant factors when making its decision and failed to connect the record facts to the choices it made by not explaining how the comments received by USTR came to shape the final implementation of Lists 3 and 4A. We, Ecolink and RCS are asking the CIT to declare that the defendants' actions resulting in the tariffs on products covered by Lists 3 and 4A are unauthorized by and contrary to the Trade Act and were arbitrarily and unlawfully promulgated in violation of the APA; to vacate the Lists 3 and 4A tariffs; to order a refund (with interest) of any Lists 3 and 4A duties paid by us, Ecolink and RCS; to permanently enjoin the U.S. government from applying Lists 3 and 4A duties against us, Ecolink and RCS; and award us, Ecolink and RCS our costs and reasonable attorney's fees. In July 2021, the CIT issued a preliminary injunction suspending liquidation of all unliquidated entries subject to Lists 3 and 4A duties and has asked the parties to develop a process to keep track of the entries to efficiently and effectively deal with liquidation process and duties to be paid or refunded when finally adjudicated. There are no other material pending legal proceedings to which we or any of our subsidiaries is a party or of which our respective property is the subject. However, as is typical in our industry and to the nature and kind of business in which we are engaged, from time to time, various claims, charges and litigation are asserted or commenced by third parties against us or by us against third parties arising from or related to product liability, infringement of patent or other intellectual property rights, breach of warranty, contractual relations, or employee relations. The amounts claimed may be substantial, but may not bear any reasonable relationship to the merits of the claims or the extent of any real risk of court awards assessed against us or in our favor. However, no assurances can be made as to the outcome of any of these matters, nor can we estimate the range of potential losses to us. In our opinion, final judgments, if any, which might be rendered against us in potential or pending litigation would not have a material adverse effect on our consolidated financial condition, results of operations, or cash flows. Moreover, we believe that our products do not infringe any third parties' patents or other intellectual property rights. We maintain directors' and officers' liability insurance which insures our individual directors and officers against certain claims, as well as attorney's fees and related expenses incurred in connection with the defense of such claims.

Treasury Stock

Treasury Stock	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Treasury Stock	Treasury Stock From time to time, our Board of Directors authorizes management to repurchase shares of our issued and outstanding common stock. O n April 28, 2021, our Board approved a new share repurchase program with an effective date of May 11, 2021 (the "May 2021 Program"). Pursuant to the May 2021 Program, we were authorized to repurchase up to 300,000 shares of our common stock at predetermined prices until the earlier of the repurchase of all 300,000 shares or August 5, 2021. The May 2021 Program was completed in June 2021 upon repurchase by us of all 300,000 shares as authorized. On July 28, 2021, our Board approved a new share repurchase program with an effective date of August 10, 2021 (the "August 2021 Program"). Pursuant to the August 2021 Program, we have been authorized to repurchase up to 400,000 shares of our common stock at predetermined prices until the earlier of t he repurchase of all 400,000 shares or November 4, 2021. We may utilize various methods to effect the repurchases, which may include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be discontinued at any time. Repurchased shares of our common stock were as follows: Six Months Ended June 30, (In thousands) 2021 2020 Shares repurchased 511 172 Cost of shares repurchased $ 26,684 $ 6,405 Repurchased shares are recorded as shares held in treasury at cost. We hold these shares for future use as management and the Board of Directors deem appropriate.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense for each employee and director is presented in the same statement of operations caption as their cash compensation. Stock-based compensation expense by statement of operations caption and the related income tax benefit were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Cost of sales $ 40 $ 36 $ 77 $ 110 Research and development expenses 318 288 631 524 Selling, general and administrative expenses: Employees 1,705 1,557 3,573 3,140 Outside directors 381 410 763 820 Total employee and director stock-based compensation expense $ 2,444 $ 2,291 $ 5,044 $ 4,594 Income tax benefit $ 416 $ 500 $ 882 $ 1,006 Stock Options Stock option activity was as follows: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2020 774 $ 43.01 Granted 80 59.43 Exercised (22) 44.39 $ 253 Forfeited/canceled/expired — — Outstanding at June 30, 2021 (1) 832 $ 44.56 3.54 $ 7,083 Vested and expected to vest at June 30, 2021 (1) 832 $ 44.56 3.54 $ 7,083 Exercisable at June 30, 2021 (1) 638 $ 43.39 2.77 $ 6,128 (1) The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of the second quarter of 2021 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they all exercised their options on June 30, 2021. This amount will change based on the fair market value of our stock. The assumptions we utilized in the Black-Scholes option pricing model and the resulting weighted average fair value of stock option grants were the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Weighted average fair value of grants $ — $ — $ 23.97 $ 17.70 Risk-free interest rate — % — % 0.41 % 1.44 % Expected volatility — % — % 48.49 % 43.95 % Expected life in years 0.00 0.00 4.62 4.59 As of June 30, 2021, we expect to recognize $3.2 million of total unrecognized pre-tax stock-based compensation expense related to non-vested stock options over a remaining weighted-average life of 2.0 years. Restricted Stock Non-vested restricted stock award activity was as follows: Shares Weighted-Average Grant Date Fair Value Non-vested at December 31, 2020 $ 374 $ 34.53 Granted 123 59.43 Vested (177) 35.41 Forfeited (7) 38.08 Non-vested at June 30, 2021 $ 313 $ 43.74 As of June 30, 2021, we expect to recognize $11.3 million of total unrecognized pre-tax stock-based compensation expense related to non-vested restricted stock awards over a weighted-average life of 2.1 years.

Performance-Based Common Stock

Performance-Based Common Stock Warrants	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Performance-Based Common Stock Warrants	Performance-Based Common Stock Warrants On March 9, 2016, we issued common stock purchase warrants to Comcast Corporation ("Comcast") to purchase up to 725,000 shares of our common stock at a price of $54.55 per share. The right to exercise the warrants is subject to vesting over three successive two-year periods (with the first two-year period commencing on January 1, 2016) based on the level of purchases of goods and services from us by Comcast and its affiliates, as defined in the warrants. The table below presents the purchase levels and potential number of warrants to vest in each period based upon achieving the purchase levels. Potential Warrants To Vest Aggregate Level of Purchases by Comcast and Affiliates January 1, 2016 - December 31, 2017 January 1, 2018 - December 31, 2019 January 1, 2020 - December 31, 2021 $260 million 100,000 100,000 75,000 $300 million 75,000 75,000 75,000 $340 million 75,000 75,000 75,000 Maximum Potential Warrants Earned by Comcast 250,000 250,000 225,000 If total aggregate purchases by Comcast and its affiliates are below $260 million in any of the two-year periods above, no warrants will vest related to that two-year period. If total aggregate purchases of goods and services by Comcast and its affiliates exceed $340 million during either the first or second two-year period, the amount of any such excess would count toward aggregate purchases in the following two-year period. This threshold was not met in either the first or second two-year period. For the two-year period ended December 31, 2017, Comcast earned and vested in 175,000 out of the maximum potential 250,000 warrants. For the two-year period ended December 31, 2019, Comcast earned and vested in 100,000 out of the maximum potential 250,000 warrants. At June 30, 2021, 275,000 vested warrants were outstanding. To fully vest in the rights to purchase all of the remaining unearned 225,000 underlying shares, Comcast and its affiliates must purchase an aggregate of $340 million in goods and services from us during the period January 1, 2020 through December 31, 2021. All warrants that vest will expire on January 1, 2023. The warrants provide for certain adjustments that may be made to the exercise price and the number of shares issuable upon exercise due to customary anti-dilution provisions. Additionally, in connection with the common stock purchase warrants, we have also entered into a registration rights agreement with Comcast under which Comcast may from time to time request that we register the shares of common stock underlying vested warrants with the SEC. As the warrants contain performance criteria under which Comcast must achieve specified aggregate purchase levels for the warrants to vest, as detailed above, the measurement date for the warrants for the first two successive two-year periods was the date on which the warrants vested. The FASB issued guidance in November 2019 that clarifies the accounting for share-based payments issued as sales incentives to customers. The guidance requires that stock-based compensation expense be recorded as a reduction in the transaction price on the basis of the grant-date fair value. The transition provisions require that equity-classified awards be measured at the adoption date fair value if the measurement date has not been established prior to the adoption date. The measurement periods for the first two successive two-year periods of our outstanding performance-based common stock warrants were completed prior to adoption and were not impacted by this updated guidance. The measurement period for the final two-year period began on January 1, 2020, and, accordingly, we measured the fair value of the award as of our adoption date on January 1, 2020 using the Black-Scholes option pricing model. Through June 30, 2021, none of the warrants had vested for the two-year period beginning January 1, 2020. The assumptions we utilized in the Black-Scholes option pricing model and the resulting grant-date fair value of the warrants as of January 1, 2020 were the following: Fair value $ 17.19 Price of Universal Electronics Inc. common stock $ 52.21 Risk-free interest rate 1.62 % Expected volatility 48.86 % Expected life in years 3.00 The impact to net sales recorded in connection with the warrants and the related income tax benefit were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Reduction to net sales $ 131 $ 154 $ 274 $ 338 Income tax benefit $ 32 $ 38 $ 68 $ 84 We estimate the number of warrants that will vest based on projected future purchases that will be made by Comcast and its affiliates. These estimates may increase or decrease based on actual future purchases. The aggregate estimated fair value of the warrants is recognized as a reduction to revenue over the related two-year vesting period. At June 30, 2021, the aggregate unrecognized estimated fair value of warrants we estimate will vest was $0.3 million.

Other Income (Expense), Net

Other Income (Expense), Net	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net consisted of the following: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Net gain (loss) on foreign currency exchange contracts (1) $ 327 $ (703) $ 1,488 $ (451) Net gain (loss) on foreign currency exchange transactions (807) 1,208 (2,077) 660 Other income (expense) 463 226 595 174 Other income (expense), net $ (17) $ 731 $ 6 $ 383 (1) This represents the gains (losses) incurred on foreign currency hedging derivatives (see Note 18 for further details).

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Earnings per share was calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per-share amounts) 2021 2020 2021 2020 BASIC Net income $ 5,593 $ 14,400 $ 12,586 $ 20,246 Weighted-average common shares outstanding 13,672 13,915 13,737 13,938 Basic earnings per share $ 0.41 $ 1.03 $ 0.92 $ 1.45 DILUTED Net income $ 5,593 $ 14,400 $ 12,586 $ 20,246 Weighted-average common shares outstanding for basic 13,672 13,915 13,737 13,938 Dilutive effect of stock options, restricted stock and common stock warrants 254 236 325 243 Weighted-average common shares outstanding on a diluted basis 13,926 14,151 14,062 14,181 Diluted earnings per share $ 0.40 $ 1.02 $ 0.89 $ 1.43 The following number of stock options, shares of restricted stock and common stock warrants were excluded from the computation of diluted earnings per common share as their inclusion would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Stock options 375 511 302 486 Restricted stock awards 88 3 69 27 Common stock warrants 275 275 138 275

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The following table sets forth the total net fair value of derivatives: June 30, 2021 December 31, 2020 Fair Value Measurement Using Total Balance Fair Value Measurement Using Total Balance (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Foreign currency exchange contracts $ — $ 261 $ — $ 261 $ — $ 113 $ — $ 113 We held foreign currency exchange contracts, which resulted in a net pre-tax gain of $0.3 million and a net pre-tax loss of $0.7 million for the three months ended June 30, 2021 and 2020, respectively. For the six months ended June 30, 2021 and 2020, we had a net pre-tax gain of $1.5 million and a net pre-tax loss of $0.5 million, respectively. Details of foreign currency exchange contracts held were as follows: Date Held Currency Position Held Notional Value Forward Rate Unrealized Gain/(Loss) Recorded at Balance Sheet Date (in thousands) (1) Settlement Date June 30, 2021 USD/Chinese Yuan Renminbi CNY $ 46.0 6.4899 $ 77 July 30, 2021 June 30, 2021 USD/Euro USD $ 23.5 1.1948 $ 184 July 30, 2021 December 31, 2020 USD/Chinese Yuan Renminbi CNY $ 55.0 6.5370 $ 239 January 29, 2021 December 31, 2020 USD/Brazilian Real USD $ 0.9 5.1714 $ 4 January 29, 2021 December 31, 2020 USD/Euro USD $ 28.0 1.2177 $ (106) January 29, 2021 December 31, 2020 USD/Mexican Peso USD $ 1.9 20.1915 $ (24) January 29, 2021 (1) Unrealized gains on foreign currency exchange contracts are recorded in prepaid expenses and other current assets. Unrealized losses on foreign currency exchange contracts are recorded in other accrued liabilities.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	In the opinion of management, the accompanying consolidated financial statements of Universal Electronics Inc. and its subsidiaries contain all the adjustments necessary for a fair presentation of financial position, results of operations and cash flows for the periods presented. All such adjustments are of a normal recurring nature. Information and footnote disclosures normally included in financial statements, which are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). As used herein, the terms "Company," "we," "us," and "our" refer to Universal Electronics Inc. and its subsidiaries, unless the context indicates to the contrary.
Estimates and Assumptions	Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, we evaluate our estimates and assumptions, including those related to revenue recognition; allowance for credit losses; inventory valuation; impairment of long-lived assets, intangible assets and goodwill; business combinations; income taxes and related valuation allowances; stock-based compensation expense and performance-based common stock warrants. The coronavirus ("COVID-19") pandemic and the mitigation efforts by governments to attempt to control its spread have created uncertainties and disruptions in the economic and financial markets. While we are not currently aware of events or circumstances that would require an update to our estimates, judgments or adjustments to the carrying values of our assets or liabilities, these estimates may change as developments occur and we obtain additional information. These future developments are highly uncertain and the outcomes are unpredictable. Actual results may differ from those estimates, and such differences may be material to the financial statements.
Revenue Recognition	Revenue Recognition We license our symbolic intellectual property which includes our patented technologies and database of control codes. Revenue is recognized for these licensing arrangements on an over-time basis. We record license revenue for per-unit based licenses when our customers manufacture or ship a product incorporating our intellectual property and we have a present right to payment. We record per-unit-based licenses with minimum guarantees ratably over the license period to which the minimum guarantee relates and any per-unit sales in excess of the minimum guarantee in the period in which the sale occurs. We record licenses with fixed consideration ratably over the license period. Tiered royalties are recorded on a straight-line basis according to the forecasted per-unit fees taking into account the pricing tiers.
Recently Adopted Accounting Pronouncements and Recent Accounting Updates Not Yet Effective	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes", which, among other provisions, eliminates certain exceptions to existing guidance related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also requires an entity to reflect the effect of an enacted change in tax laws or rates in its effective income tax rate in the first interim period that includes the enactment date of the new legislation, aligning the timing of recognition of the effects from enacted tax law changes on the effective income tax rate with the effects on deferred income tax assets and liabilities. Under previous guidance, an entity recognized the effects of the enacted tax law change on the effective income tax rate in the period that included the effective date of the tax law. Our adoption on January 1, 2021 did not have a material impact on our consolidated statement of financial position, results of operations and cash flows. Recent Accounting Updates Not Yet Effective In March 2020, the FASB issued ASU 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting" and in January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform". This guidance is intended to provide temporary optional expedients and exceptions to GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The amendments in these ASUs are elective and are effective upon issuance for all entities through December 31, 2022. These amendments are not expected to have a material impact on our consolidated statement of financial position, results of operations and cash flows.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents by Geographic Region	Cash and cash equivalents were held in the following geographic regions: (In thousands) June 30, 2021 December 31, 2020 North America $ 6,473 $ 9,812 People's Republic of China ("PRC") 18,614 14,244 Asia (excluding the PRC) 10,382 13,518 Europe 22,021 10,926 South America 10,200 8,653 Total cash and cash equivalents $ 67,690 $ 57,153

Revenue and Accounts Receivab_2

Revenue and Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Pattern of Revenue Recognition	The pattern of revenue recognition was as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Goods and services transferred at a point in time $ 119,503 $ 121,187 $ 242,391 $ 238,245 Goods and services transferred over time 30,988 31,946 58,642 66,666 Net sales $ 150,491 $ 153,133 $ 301,033 $ 304,911
Revenue from External Customers by Geographic Areas	Our net sales to external customers by geographic area were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 United States $ 51,322 $ 65,233 $ 101,614 $ 139,614 Asia (excluding PRC) 31,608 30,295 65,824 58,120 Europe 31,640 26,004 59,167 46,506 People's Republic of China 23,489 20,511 47,829 38,028 Latin America 5,368 3,466 11,512 8,106 Other 7,064 7,624 15,087 14,537 Total net sales $ 150,491 $ 153,133 $ 301,033 $ 304,911
Net Sales to Significant Customers	Net sales to the following customers totaled more than 10% of our net sales: Three Months Ended June 30, 2021 2020 $ (thousands) % of Net Sales $ (thousands) % of Net Sales Comcast Corporation $ 24,699 16.4 % $ 29,546 19.3 % Daikin Industries Ltd. $ 16,448 10.9 % $ 16,457 10.7 % Six Months Ended June 30, 2021 2020 $ (thousands) % of Net Sales $ (thousands) % of Net Sales Comcast Corporation $ 51,900 17.2 % $ 62,481 20.5 % Daikin Industries Ltd. $ 33,885 11.3 % $ — (1) — % (1) (1) Sales associated with this customer did not total more than 10% of our net sales for the indicated period.
Accounts Receivable, Net and Changes in the Allowance for Doubtful Accounts	Accounts receivable, net were as follows: (In thousands) June 30, 2021 December 31, 2020 Trade receivables, gross $ 126,997 $ 122,828 Allowance for credit losses (1,372) (1,412) Allowance for sales returns (465) (761) Trade receivables, net 125,160 120,655 Other 9,834 8,778 Accounts receivable, net $ 134,994 $ 129,433 Changes in the allowance for credit losses were as follows: (In thousands) Six Months Ended June 30, 2021 2020 Balance at beginning of period $ 1,412 $ 1,492 Additions to costs and expenses 1 240 Write-offs/Foreign exchange effects (41) (35) Balance at end of period $ 1,372 $ 1,697
Trade Receivables Associated with Significant Customers	Trade receivables associated with this significant customer that totaled more than 10% of our accounts receivable, net were as follows: June 30, 2021 December 31, 2020 $ (thousands) % of Accounts Receivable, Net $ (thousands) % of Accounts Receivable, Net Comcast Corporation $ 22,908 17.0 % $ 19,782 15.3 %

Inventories and Significant S_2

Inventories and Significant Supplier (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories were as follows: (In thousands) June 30, 2021 December 31, 2020 Raw materials $ 45,072 $ 44,273 Components 24,631 16,954 Work in process 5,753 6,211 Finished goods 45,974 52,992 Inventories $ 121,430 $ 120,430
Purchases from Significant Suppliers	Purchases from the following supplier totaled more than 10% of our total inventory purchases: Three Months Ended June 30, 2021 2020 $ (thousands) % of Total Inventory Purchases $ (thousands) % of Total Inventory Purchases Qorvo International Pte Ltd. $ 9,840 11.9 % $ 10,030 13.1 % Six Months Ended June 30, 2021 2020 $ (thousands) % of Total Inventory Purchases $ (thousands) % of Total Inventory Purchases Qorvo International Pte Ltd. $ 19,613 12.3 % $ 21,207 13.6 %

Long-lived Tangible Assets (Tab

Long-lived Tangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Long-Lived Tangible Assets by Geographic Area	Long-lived tangible assets by geographic area, which include property, plant, and equipment, net and operating lease right-of-use assets, were as follows: (In thousands) June 30, 2021 December 31, 2020 United States $ 15,691 $ 15,411 People's Republic of China 60,815 64,197 Mexico 21,475 22,410 All other countries 3,602 4,789 Total long-lived tangible assets $ 101,583 $ 106,807

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the Carrying Amount of Goodwill	Changes in the carrying amount of goodwill were as follows: (In thousands) Balance at December 31, 2020 $ 48,614 Foreign exchange effects (59) Balance at June 30, 2021 $ 48,555
Components of Intangible Assets, Net	The components of intangible assets, net were as follows: June 30, 2021 December 31, 2020 (In thousands) Gross (1) Accumulated Amortization (1) Net Gross (1) Accumulated Amortization (1) Net Capitalized software development costs $ 871 $ (8) $ 863 $ 477 $ — $ 477 Customer relationships 8,100 (4,682) 3,418 8,100 (4,329) 3,771 Developed and core technology 4,080 (3,189) 891 4,080 (3,044) 1,036 Distribution rights 342 (268) 74 352 (261) 91 Patents 22,692 (8,269) 14,423 21,601 (7,574) 14,027 Trademarks and trade names 800 (546) 254 800 (492) 308 Total intangible assets, net $ 36,885 $ (16,962) $ 19,923 $ 35,410 $ (15,700) $ 19,710 (1) This table excludes the gross value of fully amortized intangible assets totaling $43.0 million and $42.7 million at June 30, 2021 and December 31, 2020, respectively.
Finite-lived Intangible Assets Amortization Expense	Amortization expense by statement of operations caption was as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of sales $ 4 $ — $ 8 $ — Selling, general and administrative expenses 712 1,906 1,546 3,720 Total amortization expense $ 716 $ 1,906 $ 1,554 $ 3,720
Estimated Future Amortization Expense Related to Intangible Assets	Estimated future annual amortization expense related to our intangible assets at June 30, 2021, was as follows: (In thousands) 2021 (remaining 6 months) $ 1,701 2022 3,733 2023 3,571 2024 2,570 2025 2,301 Thereafter 6,047 Total $ 19,923

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Lease Balances within the Consolidated Balance Sheet	Lease balances within our consolidated balance sheet were as follows: (In thousands) June 30, 2021 December 31, 2020 Assets: Operating lease right-of-use assets $ 19,098 $ 19,522 Liabilities: Other accrued liabilities $ 5,067 $ 6,094 Long-term operating lease obligations 13,197 13,681 Total lease liabilities $ 18,264 $ 19,775
Operating Lease Expense, Operating Lease Cash Flows and Supplemental Cash Flow Information	Operating lease expense, including variable and short-term lease costs, which were insignificant to the total operating lease cash flows and supplemental cash flow information were as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of sales $ 628 $ 382 $ 1,298 $ 772 Selling, general and administrative expenses 1,023 1,020 2,059 2,018 Total operating lease expense $ 1,651 $ 1,402 $ 3,357 $ 2,790 Operating cash outflows from operating leases $ 1,585 $ 1,543 $ 3,383 $ 3,068 Operating lease right-of-use assets obtained in exchange for lease obligations $ 2,711 $ — $ 3,009 $ 186 Non-cash release of operating lease obligations (1) $ — $ — $ 654 $ — (1) During the six months ended June 30, 2021, we were released from our guarantee of the lease obligation related to our Ohio call center which was sold in February 2020.
Lease Terms and Discount Rates	The weighted average remaining lease liability term and the weighted average discount rate were as follows: June 30, 2021 December 31, 2020 Weighted average lease liability term (in years) 4.1 3.7 Weighted average discount rate 3.37 % 3.84 %
Reconciliation of the Undiscounted Cash Flows for Each of the First Five Years and Thereafter to Operating Lease Liabilities	The following table reconciles the undiscounted cash flows for each of the first five years and thereafter to the operating lease liabilities recognized in our consolidated balance sheet at June 30, 2021. The reconciliation excludes short-term leases that are not recorded on the balance sheet. (In thousands) June 30, 2021 2021 (remaining 6 months) $ 2,779 2022 5,584 2023 3,990 2024 2,690 2025 2,240 Thereafter 2,317 Total lease payments 19,600 Less: imputed interest (1,336) Total lease liabilities $ 18,264

Accrued Compensation (Tables)

Accrued Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Components of Accrued Compensation	The components of accrued compensation were as follows: (In thousands) June 30, 2021 December 31, 2020 Accrued bonus $ 3,198 $ 7,602 Accrued commission 737 1,779 Accrued salary/wages 7,243 7,107 Accrued social insurance (1) 7,445 7,375 Accrued vacation/holiday 3,508 3,307 Other accrued compensation 2,076 1,761 Total accrued compensation $ 24,207 $ 28,931 (1) PRC employers are required by law to remit the applicable social insurance payments to their local government. Social insurance is comprised of various components such as pension, medical insurance, job industry insurance, unemployment insurance, and a housing assistance fund, and is administered in a manner similar to social security in the United States. This amount represents our estimate of the amounts due to the PRC government for social insurance on June 30, 2021 and December 31, 2020. The components of other accrued liabilities were as follows: (In thousands) June 30, 2021 December 31, 2020 Duties $ 4,215 $ 4,469 Expense associated with fulfilled performance obligations 1,301 1,372 Freight and handling fees 3,008 2,218 Operating lease obligations 5,067 6,094 Product warranty claims costs 1,351 1,721 Professional fees 3,897 3,794 Sales and value added taxes 4,459 5,118 Short-term contingent consideration 87 1,758 Other (1) 5,661 6,513 Total other accrued liabilities $ 29,046 $ 33,057 (1) Includes $0.4 million and $0.3 million of contract liabilities at June 30, 2021 and December 31, 2020, respectively.

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Components of Other Accrued Liabilities	The components of accrued compensation were as follows: (In thousands) June 30, 2021 December 31, 2020 Accrued bonus $ 3,198 $ 7,602 Accrued commission 737 1,779 Accrued salary/wages 7,243 7,107 Accrued social insurance (1) 7,445 7,375 Accrued vacation/holiday 3,508 3,307 Other accrued compensation 2,076 1,761 Total accrued compensation $ 24,207 $ 28,931 (1) PRC employers are required by law to remit the applicable social insurance payments to their local government. Social insurance is comprised of various components such as pension, medical insurance, job industry insurance, unemployment insurance, and a housing assistance fund, and is administered in a manner similar to social security in the United States. This amount represents our estimate of the amounts due to the PRC government for social insurance on June 30, 2021 and December 31, 2020. The components of other accrued liabilities were as follows: (In thousands) June 30, 2021 December 31, 2020 Duties $ 4,215 $ 4,469 Expense associated with fulfilled performance obligations 1,301 1,372 Freight and handling fees 3,008 2,218 Operating lease obligations 5,067 6,094 Product warranty claims costs 1,351 1,721 Professional fees 3,897 3,794 Sales and value added taxes 4,459 5,118 Short-term contingent consideration 87 1,758 Other (1) 5,661 6,513 Total other accrued liabilities $ 29,046 $ 33,057 (1) Includes $0.4 million and $0.3 million of contract liabilities at June 30, 2021 and December 31, 2020, respectively.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Changes in the Liability for Product Warranty Claim Costs	Changes in the liability for product warranty claims costs were as follows: (In thousands) Six Months Ended June 30, 2021 2020 Balance at beginning of period $ 1,721 $ 1,514 Accruals for warranties issued during the period 46 578 Settlements (in cash or in kind) during the period (386) (312) Foreign currency translation gain (loss) (30) 2 Balance at end of period $ 1,351 $ 1,782

Treasury Stock (Tables)

Treasury Stock (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Repurchased Shares of Common Stock	Repurchased shares of our common stock were as follows: Six Months Ended June 30, (In thousands) 2021 2020 Shares repurchased 511 172 Cost of shares repurchased $ 26,684 $ 6,405

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Expense and Related Income Tax Benefit	Stock-based compensation expense by statement of operations caption and the related income tax benefit were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Cost of sales $ 40 $ 36 $ 77 $ 110 Research and development expenses 318 288 631 524 Selling, general and administrative expenses: Employees 1,705 1,557 3,573 3,140 Outside directors 381 410 763 820 Total employee and director stock-based compensation expense $ 2,444 $ 2,291 $ 5,044 $ 4,594 Income tax benefit $ 416 $ 500 $ 882 $ 1,006
Stock Option Activity	Stock option activity was as follows: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2020 774 $ 43.01 Granted 80 59.43 Exercised (22) 44.39 $ 253 Forfeited/canceled/expired — — Outstanding at June 30, 2021 (1) 832 $ 44.56 3.54 $ 7,083 Vested and expected to vest at June 30, 2021 (1) 832 $ 44.56 3.54 $ 7,083 Exercisable at June 30, 2021 (1) 638 $ 43.39 2.77 $ 6,128
Assumptions Used in Valuation and Weighted Average Fair Value of Stock Option Grants	The assumptions we utilized in the Black-Scholes option pricing model and the resulting weighted average fair value of stock option grants were the following: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Weighted average fair value of grants $ — $ — $ 23.97 $ 17.70 Risk-free interest rate — % — % 0.41 % 1.44 % Expected volatility — % — % 48.49 % 43.95 % Expected life in years 0.00 0.00 4.62 4.59
Non-Vested Restricted Stock Award Activity	Non-vested restricted stock award activity was as follows: Shares Weighted-Average Grant Date Fair Value Non-vested at December 31, 2020 $ 374 $ 34.53 Granted 123 59.43 Vested (177) 35.41 Forfeited (7) 38.08 Non-vested at June 30, 2021 $ 313 $ 43.74

Performance-Based Common Stoc_2

Performance-Based Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Purchase Level and Number of Warrants That Will Vest	The table below presents the purchase levels and potential number of warrants to vest in each period based upon achieving the purchase levels. Potential Warrants To Vest Aggregate Level of Purchases by Comcast and Affiliates January 1, 2016 - December 31, 2017 January 1, 2018 - December 31, 2019 January 1, 2020 - December 31, 2021 $260 million 100,000 100,000 75,000 $300 million 75,000 75,000 75,000 $340 million 75,000 75,000 75,000 Maximum Potential Warrants Earned by Comcast 250,000 250,000 225,000
Assumptions Used in Valuation and Weighted Average Fair Value of Warrants	The assumptions we utilized in the Black-Scholes option pricing model and the resulting grant-date fair value of the warrants as of January 1, 2020 were the following: Fair value $ 17.19 Price of Universal Electronics Inc. common stock $ 52.21 Risk-free interest rate 1.62 % Expected volatility 48.86 % Expected life in years 3.00
Impact to Net Sales in Connection with Warrants and Related Income Tax Benefit	The impact to net sales recorded in connection with the warrants and the related income tax benefit were as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Reduction to net sales $ 131 $ 154 $ 274 $ 338 Income tax benefit $ 32 $ 38 $ 68 $ 84

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other income (expense), net consisted of the following: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Net gain (loss) on foreign currency exchange contracts (1) $ 327 $ (703) $ 1,488 $ (451) Net gain (loss) on foreign currency exchange transactions (807) 1,208 (2,077) 660 Other income (expense) 463 226 595 174 Other income (expense), net $ (17) $ 731 $ 6 $ 383 (1) This represents the gains (losses) incurred on foreign currency hedging derivatives (see Note 18 for further details).

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Calculation of Earnings Per Share	Earnings per share was calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per-share amounts) 2021 2020 2021 2020 BASIC Net income $ 5,593 $ 14,400 $ 12,586 $ 20,246 Weighted-average common shares outstanding 13,672 13,915 13,737 13,938 Basic earnings per share $ 0.41 $ 1.03 $ 0.92 $ 1.45 DILUTED Net income $ 5,593 $ 14,400 $ 12,586 $ 20,246 Weighted-average common shares outstanding for basic 13,672 13,915 13,737 13,938 Dilutive effect of stock options, restricted stock and common stock warrants 254 236 325 243 Weighted-average common shares outstanding on a diluted basis 13,926 14,151 14,062 14,181 Diluted earnings per share $ 0.40 $ 1.02 $ 0.89 $ 1.43
Securities Excluded from the Computation of Diluted Earnings (Loss) Per Common Share	The following number of stock options, shares of restricted stock and common stock warrants were excluded from the computation of diluted earnings per common share as their inclusion would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2021 2020 2021 2020 Stock options 375 511 302 486 Restricted stock awards 88 3 69 27 Common stock warrants 275 275 138 275

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Total Net Fair Value of Derivatives	The following table sets forth the total net fair value of derivatives: June 30, 2021 December 31, 2020 Fair Value Measurement Using Total Balance Fair Value Measurement Using Total Balance (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Foreign currency exchange contracts $ — $ 261 $ — $ 261 $ — $ 113 $ — $ 113
Foreign Currency Exchange Contracts	Details of foreign currency exchange contracts held were as follows: Date Held Currency Position Held Notional Value Forward Rate Unrealized Gain/(Loss) Recorded at Balance Sheet Date (in thousands) (1) Settlement Date June 30, 2021 USD/Chinese Yuan Renminbi CNY $ 46.0 6.4899 $ 77 July 30, 2021 June 30, 2021 USD/Euro USD $ 23.5 1.1948 $ 184 July 30, 2021 December 31, 2020 USD/Chinese Yuan Renminbi CNY $ 55.0 6.5370 $ 239 January 29, 2021 December 31, 2020 USD/Brazilian Real USD $ 0.9 5.1714 $ 4 January 29, 2021 December 31, 2020 USD/Euro USD $ 28.0 1.2177 $ (106) January 29, 2021 December 31, 2020 USD/Mexican Peso USD $ 1.9 20.1915 $ (24) January 29, 2021 (1) Unrealized gains on foreign currency exchange contracts are recorded in prepaid expenses and other current assets. Unrealized losses on foreign currency exchange contracts are recorded in other accrued liabilities.

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 67,690	$ 57,153
North America
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	6,473	9,812
People's Republic of China
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	18,614	14,244
Asia (excluding PRC)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	10,382	13,518
Europe
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	22,021	10,926
South America
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 10,200	$ 8,653

Revenue and Accounts Receivab_3

Revenue and Accounts Receivable, Net - Pattern of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 150,491	$ 153,133	$ 301,033	$ 304,911
Goods and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Net sales	119,503	121,187	242,391	238,245
Goods and services transferred over time
Disaggregation of Revenue [Line Items]
Net sales	$ 30,988	$ 31,946	$ 58,642	$ 66,666

Revenue and Accounts Receivab_4

Revenue and Accounts Receivable, Net - Revenue from External Customers by Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 150,491	$ 153,133	$ 301,033	$ 304,911
United States
Disaggregation of Revenue [Line Items]
Net sales	51,322	65,233	101,614	139,614
Asia (excluding PRC)
Disaggregation of Revenue [Line Items]
Net sales	31,608	30,295	65,824	58,120
Europe
Disaggregation of Revenue [Line Items]
Net sales	31,640	26,004	59,167	46,506
People's Republic of China
Disaggregation of Revenue [Line Items]
Net sales	23,489	20,511	47,829	38,028
Latin America
Disaggregation of Revenue [Line Items]
Net sales	5,368	3,466	11,512	8,106
Other
Disaggregation of Revenue [Line Items]
Net sales	$ 7,064	$ 7,624	$ 15,087	$ 14,537

Revenue and Accounts Receivab_5

Revenue and Accounts Receivable, Net - Net Sales to Significant Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 150,491	$ 153,133	$ 301,033	$ 304,911
Comcast Corporation
Disaggregation of Revenue [Line Items]
Net sales	$ 24,699	$ 29,546	$ 51,900	$ 62,481
Comcast Corporation | Customer concentration risk | Net sales
Disaggregation of Revenue [Line Items]
Concentration risk percentage	16.40%	19.30%	17.20%	20.50%
Daikin Industries Ltd.
Disaggregation of Revenue [Line Items]
Net sales	$ 16,448	$ 16,457	$ 33,885	$ 0
Daikin Industries Ltd. | Customer concentration risk | Net sales
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10.90%	10.70%	11.30%	0.00%

Revenue and Accounts Receivab_6

Revenue and Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Trade receivables, gross	$ 126,997	$ 122,828
Allowance for credit losses	(1,372)	(1,412)	$ (1,697)	$ (1,492)
Allowance for sales returns	(465)	(761)
Trade receivables, net	125,160	120,655
Other	9,834	8,778
Accounts receivable, net	$ 134,994	$ 129,433

Revenue and Accounts Receivab_7

Revenue and Accounts Receivable, Net - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of Allowance for Doubtful Accounts
Balance at beginning of period	$ 1,412	$ 1,492
Additions to costs and expenses	1	240
Write-offs/Foreign exchange effects	(41)	(35)
Balance at end of period	$ 1,372	$ 1,697

Revenue and Accounts Receivab_8

Revenue and Accounts Receivable, Net - Trade Receivables Associated with Significant Customers (Details) - Comcast Corporation - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Revenue, Major Customer [Line Items]
Accounts receivable, net	$ 22,908	$ 19,782
Trade accounts receivable | Customer concentration risk
Revenue, Major Customer [Line Items]
Concentration risk percentage	17.00%	15.30%

Inventories and Significant S_3

Inventories and Significant Supplier - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 45,072	$ 44,273
Components	24,631	16,954
Work in process	5,753	6,211
Finished goods	45,974	52,992
Inventories	$ 121,430	$ 120,430

Inventories and Significant S_4

Inventories and Significant Supplier - Purchases from Significant Suppliers (Details) - Qorvo International Pte Ltd. - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Concentration Risk [Line Items]
Inventory purchases	$ 9,840	$ 10,030	$ 19,613	$ 21,207
Supplier concentration risk | Inventory purchases
Concentration Risk [Line Items]
Concentration risk percentage	11.90%	13.10%	12.30%	13.60%

Long-lived Tangible Assets - Lo

Long-lived Tangible Assets - Long-Lived Tangible Assets by Geographic Area (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Long-lived Assets from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	$ 101,583	$ 106,807
Accumulated depreciation	161,800	154,200
United States
Long-lived Assets from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	15,691	15,411
People's Republic of China
Long-lived Assets from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	60,815	64,197
Mexico
Long-lived Assets from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	21,475	22,410
All other countries
Long-lived Assets from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	$ 3,602	$ 4,789

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Changes in the Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 48,614
Foreign exchange effects	(59)
Ending balance	$ 48,555

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Amortization Expense by Income Statement Caption (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Net [Abstract]
Gross	$ 36,885	$ 35,410
Accumulated Amortization	(16,962)	(15,700)
Total	19,923	19,710
Gross value of fully amortized intangible assets	43,000	42,700
Capitalized software development costs
Finite-Lived Intangible Assets, Net [Abstract]
Gross	871	477
Accumulated Amortization	(8)	0
Total	863	477
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Gross	8,100	8,100
Accumulated Amortization	(4,682)	(4,329)
Total	3,418	3,771
Developed and core technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross	4,080	4,080
Accumulated Amortization	(3,189)	(3,044)
Total	891	1,036
Distribution rights
Finite-Lived Intangible Assets, Net [Abstract]
Gross	342	352
Accumulated Amortization	(268)	(261)
Total	74	91
Patents
Finite-Lived Intangible Assets, Net [Abstract]
Gross	22,692	21,601
Accumulated Amortization	(8,269)	(7,574)
Total	14,423	14,027
Trademarks and trade names
Finite-Lived Intangible Assets, Net [Abstract]
Gross	800	800
Accumulated Amortization	(546)	(492)
Total	$ 254	$ 308

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Amortization Expense by Income Statement Caption (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 716	$ 1,906	$ 1,554	$ 3,720
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Amortization expense	4	0	8	0
Selling, general and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 712	$ 1,906	$ 1,546	$ 3,720

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Estimated Future Annual Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of Estimated Future Amortization expense
2021 (remaining 6 months)	$ 1,701
2022	3,733
2023	3,571
2024	2,570
2025	2,301
Thereafter	6,047
Total	$ 19,923	$ 19,710

Leases - Narrative (Details)

Leases - Narrative (Details)	Jun. 30, 2021lease
Leases [Abstract]
Remaining lease terms (up to)	39 years
Number of operating leases not yet commenced	4
Term of operating lease that has not yet commenced	4 years

Leases - Lease Balances within

Leases - Lease Balances within the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Operating lease right-of-use assets	$ 19,098	$ 19,522
Liabilities:
Lease liability location within the Consolidated Balance Sheets	us-gaap:OtherAccruedLiabilitiesCurrent	us-gaap:OtherAccruedLiabilitiesCurrent
Other accrued liabilities	$ 5,067	$ 6,094
Long-term operating lease obligations	13,197	13,681
Total lease liabilities	$ 18,264	$ 19,775

Leases - Operating Lease Expens

Leases - Operating Lease Expense, Operating Lease Cash Flows and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Total operating lease expense	$ 1,651	$ 1,402	$ 3,357	$ 2,790
Operating cash outflows from operating leases	1,585	1,543	3,383	3,068
Operating lease right-of-use assets obtained in exchange for lease obligations	2,711	0	3,009	186
Non-cash release of operating lease obligations	0	0	654	0
Cost of sales
Lessee, Lease, Description [Line Items]
Total operating lease expense	628	382	1,298	772
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Total operating lease expense	$ 1,023	$ 1,020	$ 2,059	$ 2,018

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted average lease liability term (in years)	4 years 1 month 6 days	3 years 8 months 12 days
Weighted average discount rate	3.37%	3.84%

Leases - Reconciliation of the

Leases - Reconciliation of the Undiscounted Cash Flows for Each of the First Five Years and Thereafter to Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (remaining 6 months)	$ 2,779
2022	5,584
2023	3,990
2024	2,690
2025	2,240
Thereafter	2,317
Total lease payments	19,600
Less: imputed interest	(1,336)
Total lease liabilities	$ 18,264	$ 19,775

Line of Credit (Details)

Line of Credit (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Line of Credit Facility [Line Items]
Amount outstanding under line of credit	$ 46,000,000		$ 46,000,000		$ 20,000,000
Interest expense on borrowings	$ 200,000	$ 400,000	$ 300,000	$ 1,100,000
Line of credit | US Bank
Line of Credit Facility [Line Items]
Effective interest rate	1.35%		1.35%		1.39%
Line of credit | US Bank | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.25%
Line of credit | US Bank | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.75%
Line of credit | US Bank | Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.00%
Line of credit | US Bank | Base rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.50%
Line of credit | US Bank | Enson
Line of Credit Facility [Line Items]
Ownership interest used to secure obligations	65.00%		65.00%
Line of credit | Second Amended Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 125,000,000		$ 125,000,000
Commitment fees			0
Letter of credit
Line of Credit Facility [Line Items]
Letter of credit outstanding amount	$ 2,700,000		$ 2,700,000		$ 2,700,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,284	$ 1,883	$ 4,817	$ 3,103
Unrecognized tax benefits	$ 3,200		$ 3,200

Accrued Compensation - Narrativ

Accrued Compensation - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accrued social insurance adjustment			$ 0	$ 9,464	$ 0	$ 9,464
Guangzhou | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Indemnification period		2 years
Accrued social insurance adjustment	$ 9,500

Accrued Compensation (Details)

Accrued Compensation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued bonus	$ 3,198	$ 7,602
Accrued commission	737	1,779
Accrued salary/wages	7,243	7,107
Accrued social insurance	7,445	7,375
Accrued vacation/holiday	3,508	3,307
Other accrued compensation	2,076	1,761
Total accrued compensation	$ 24,207	$ 28,931

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Duties	$ 4,215	$ 4,469
Expense associated with fulfilled performance obligations	1,301	1,372
Freight and handling fees	3,008	2,218
Operating lease obligations	5,067	6,094
Product warranty claims costs	1,351	1,721
Professional fees	3,897	3,794
Sales and value added taxes	4,459	5,118
Short-term contingent consideration	87	1,758
Other	5,661	6,513
Total other accrued liabilities	29,046	33,057
Contract liabilities	$ 400	$ 300

Commitments and Contingencies -

Commitments and Contingencies - Changes in the Liability for Product Warranty Claim Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of Changes in Reserve for Product Warranty Claim Costs
Balance at beginning of period	$ 1,721	$ 1,514
Accruals for warranties issued during the period	46	578
Settlements (in cash or in kind) during the period	(386)	(312)
Foreign currency translation gain (loss)	(30)	2
Balance at end of period	$ 1,351	$ 1,782

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)	Apr. 08, 2021patent	Apr. 09, 2020patent	Sep. 05, 2018patent	Jun. 30, 2021inter_partes_review
Contingencies [Line Items]
Number of IPR requests denied | inter_partes_review				11
Number of IPR requests granted | inter_partes_review				7
Roku Lawsuit
Contingencies [Line Items]
Number of patents allegedly infringed upon			2
Roku Lawsuit | Pending litigation
Contingencies [Line Items]
Number of patents allegedly infringed upon			9
Number of patent families			4
Roku, TCL, Hisense, and Funai Patent Infringement - ITC Matter | Pending litigation
Contingencies [Line Items]
Number of patents allegedly infringed upon		5
TLC Hisense and Funai - ITC Matter | Pending litigation
Contingencies [Line Items]
Number of patents allegedly infringed upon		6
Roku- ITC Matter | Pending litigation
Contingencies [Line Items]
Number of patents allegedly infringed upon	2

Treasury Stock - Narrative (Det

Treasury Stock - Narrative (Details) - shares	1 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jul. 28, 2021	Apr. 28, 2021
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)		511,000	172,000
May 2021 Program
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase of common stock (in shares)					300,000
Number of shares repurchased (in shares)	300,000
August 2021 Program | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase of common stock (in shares)				400,000

Treasury Stock - Repurchased Sh

Treasury Stock - Repurchased Shares of Common Stock (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity [Abstract]
Shares repurchased (in shares)					511	172
Cost of shares repurchased	$ 15,733	$ 10,951	$ 114	$ 6,291	$ 26,684	$ 6,405

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee and director stock-based compensation expense	$ 2,444	$ 2,291	$ 5,044	$ 4,594
Income tax benefit	416	500	882	1,006
Cost of sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee and director stock-based compensation expense	40	36	77	110
Research and development expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee and director stock-based compensation expense	318	288	631	524
Selling, general and administrative expenses | Employees
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee and director stock-based compensation expense	1,705	1,557	3,573	3,140
Selling, general and administrative expenses | Outside directors
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee and director stock-based compensation expense	$ 381	$ 410	$ 763	$ 820

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Number of Options
Outstanding at beginning of period (in shares) | shares	774
Granted (in shares) | shares	80
Exercised (in shares) | shares	(22)
Forfeited/canceled/expired (in shares) | shares	0
Outstanding at end of period (in shares) | shares	832
Vested and expected to vest at end of period (in shares) | shares	832
Exercisable at end of period (in shares) | shares	638
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 43.01
Granted (in dollars per share) | $ / shares	59.43
Exercised (in dollars per share) | $ / shares	44.39
Forfeited/canceled/expired (in dollars per share) | $ / shares	0
Outstanding at end of period (in dollars per share) | $ / shares	44.56
Vested and expected to vest at end of period (in dollars per share) | $ / shares	44.56
Exercisable at end of period (in dollars per share) | $ / shares	$ 43.39
Weighted-Average Remaining Contractual Term (in years)
Outstanding at end of period	3 years 6 months 14 days
Vested and expected to vest at end of period	3 years 6 months 14 days
Exercisable at end of period	2 years 9 months 7 days
Aggregate Intrinsic Value
Exercised | $	$ 253
Outstanding at end of period | $	7,083
Vested and expected to vest at end of period | $	7,083
Exercisable at end of period | $	$ 6,128

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions Used in Valuation and Weighted Average Fair Value of Stock Option Grants (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Weighted average fair value of grants (in dollars per share)	$ 0	$ 0	$ 23.97	$ 17.70
Risk-free interest rate	0.00%	0.00%	0.41%	1.44%
Expected volatility	0.00%	0.00%	48.49%	43.95%
Expected life in years	0 years	0 years	4 years 7 months 13 days	4 years 7 months 2 days

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized pre-tax stock-based compensation expense	$ 3.2
Unrecognized pre-tax stock-based compensation expense, remaining weighted-average life	2 years
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized pre-tax stock-based compensation expense	$ 11.3
Unrecognized pre-tax stock-based compensation expense, remaining weighted-average life	2 years 1 month 6 days

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-Vested Restricted Stock Award Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Shares
Non-vested at beginning of period (in shares) | shares	374
Granted (in shares) | shares	123
Vested (in shares) | shares	(177)
Forfeited (in shares) | shares	(7)
Non-vested at end of period (in shares) | shares	313
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 34.53
Granted (in dollars per share) | $ / shares	59.43
Vested (in dollars per share) | $ / shares	35.41
Forfeited (in dollars per share) | $ / shares	38.08
Non-vested at end of period (in dollars per share) | $ / shares	$ 43.74

Performance-Based Common Stoc_3

Performance-Based Common Stock Warrants - Narrative (Details)	Mar. 09, 2016USD ($)vesting_period$ / sharesshares	Jun. 30, 2021USD ($)shares	Dec. 31, 2019shares	Dec. 31, 2017shares
Class of Warrant or Right [Line Items]
Unrecognized estimated fair value of unvested warrants | $		$ 300,000
Common stock purchase warrants
Class of Warrant or Right [Line Items]
Number of shares called by warrants (in shares)	725,000
Exercise price of warrants (in dollars per share) | $ / shares	$ 54.55
Number of vesting periods | vesting_period	3
Term of successive vesting periods	2 years	2 years	2 years	2 years
Vesting period one	2 years
Vested warrants outstanding (in shares)		275,000
Unearned underlying shares (in shares)		225,000
Number of warrants vested (in shares)		0
Comcast Corporation | Common stock purchase warrants
Class of Warrant or Right [Line Items]
Number of warrants vested in period (in shares)			100,000	175,000
Maximum warrants available to vest (in shares)			250,000	250,000
Supply threshold | Common stock purchase warrants
Class of Warrant or Right [Line Items]
Aggregate level of purchases, $260 million threshold | $	$ 260,000,000
Aggregate level of purchases, $340 million threshold | $	$ 340,000,000
Supply threshold amount | $		$ 340,000,000

Performance-Based Common Stoc_4

Performance-Based Common Stock Warrants - Purchase Level and Number of Warrants to Vest (Details) - Common stock purchase warrants - Supply threshold	Mar. 09, 2016USD ($)shares
Class of Warrant or Right [Line Items]
Aggregate level of purchases, threshold one | $	$ 260,000,000
Aggregate level of purchases, threshold two | $	300,000,000
Aggregate level of purchases, threshold three | $	$ 340,000,000
Incremental Warrants That Will Vest January 1, 2016 - December 31, 2017
$260 million threshold (in shares)	100,000
$300 million threshold (in shares)	75,000
$340 million threshold (in shares)	75,000
Maximum Potential Warrants Earned by Comcast (in shares)	250,000
Incremental Warrants That Will Vest January 1, 2018 - December 31, 2019
$260 million threshold (in shares)	100,000
$300 million threshold (in shares)	75,000
$340 million threshold (in shares)	75,000
Maximum Potential Warrants Earned by Comcast (in shares)	250,000
Incremental Warrants That Will Vest January 1, 2020 - December 31, 2021
$260 million threshold (in shares)	75,000
$300 million threshold (in shares)	75,000
$340 million threshold (in shares)	75,000
Maximum Potential Warrants Earned by Comcast (in shares)	225,000

Performance-Based Common Stoc_5

Performance-Based Common Stock Warrants - Assumptions Used in Valuation and Weighted Average Fair Value of Warrants (Details) - Common stock purchase warrants	Jan. 01, 2020$ / shares
Class of Warrant or Right [Line Items]
Fair value (in dollars per share)	$ 17.19
Price of Universal Electronics Inc. common stock (in dollars per share)	$ 52.21
Risk-free interest rate
Class of Warrant or Right [Line Items]
Valuation assumption rate	0.0162
Expected volatility
Class of Warrant or Right [Line Items]
Valuation assumption rate	0.4886
Expected life
Class of Warrant or Right [Line Items]
Expected life in years	3 years

Performance-Based Common Stoc_6

Performance-Based Common Stock Warrants - Impact to Net Sales in Connection with Warrants and Related Income Tax Benefit (Details) - Common stock purchase warrants - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Class of Warrant or Right [Line Items]
Reduction to net sales	$ 131	$ 154	$ 274	$ 338
Income tax benefit	$ 32	$ 38	$ 68	$ 84

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Income and Expenses [Abstract]
Net gain (loss) on foreign currency exchange contracts	$ 327	$ (703)	$ 1,488	$ (451)
Net gain (loss) on foreign currency exchange transactions	(807)	1,208	(2,077)	660
Other income (expense)	463	226	595	174
Other income (expense), net	$ (17)	$ 731	$ 6	$ 383

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
BASIC
Net income	$ 5,593	$ 6,993	$ 14,400	$ 5,846	$ 12,586	$ 20,246
Weighted-average common shares outstanding (in shares)	13,672		13,915		13,737	13,938
Basic earnings per share (in dollars per share)	$ 0.41		$ 1.03		$ 0.92	$ 1.45
DILUTED
Net income	$ 5,593	$ 6,993	$ 14,400	$ 5,846	$ 12,586	$ 20,246
Weighted-average common shares outstanding (in shares)	13,672		13,915		13,737	13,938
Dilutive effect of stock options, restricted stock and common stock warrants (in shares)	254		236		325	243
Weighted-average common shares outstanding on a diluted basis (in shares)	13,926		14,151		14,062	14,181
Diluted earnings per share (in dollars per share)	$ 0.40		$ 1.02		$ 0.89	$ 1.43

Earnings Per Share - Securities

Earnings Per Share - Securities Excluded from the Computation of Diluted Earnings (Loss) Per Common Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded in computation of diluted earning per share (in shares)	375	511	302	486
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded in computation of diluted earning per share (in shares)	88	3	69	27
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded in computation of diluted earning per share (in shares)	275	275	138	275

Derivatives - Total Net Fair Va

Derivatives - Total Net Fair Value of Derivatives (Details) - Fair value measurements on a recurring basis - Foreign currency exchange contracts - Not designated as hedging instrument - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Total Balance
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ 261	$ 113
Level 1
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	0	0
Level 2
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	261	113
Level 3
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ 0	$ 0

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments,Gain (Loss) [Line Items]
Net gain (loss) on foreign currency exchange contracts	$ 327	$ (703)	$ 1,488	$ (451)
Not designated as hedging instrument | Foreign currency exchange contracts
Derivative Instruments,Gain (Loss) [Line Items]
Net gain (loss) on foreign currency exchange contracts	$ 300	$ (700)	$ 1,500	$ (500)

Derivatives - Foreign Currency

Derivatives - Foreign Currency Exchange Contracts (Details) - Not designated as hedging instrument $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / €$ / ¥	Dec. 31, 2020USD ($)$ / R$$ / ¥$ / €
USD/Chinese Yuan Renminbi
Derivative [Line Items]
Notional Value	$ 46,000	$ 55,000
Forward Rate	6.4899	6.5370
Unrealized gain/(loss) recorded at balance sheet date	$ 77	$ 239
USD/Euro
Derivative [Line Items]
Notional Value	$ 23,500	$ 28,000
Forward Rate	1.1948	1.2177
Unrealized gain/(loss) recorded at balance sheet date	$ 184	$ (106)
USD/Brazilian Real
Derivative [Line Items]
Notional Value		$ 900
Forward Rate | $ / €		5.1714
Unrealized gain/(loss) recorded at balance sheet date		$ 4
USD/Mexican Peso
Derivative [Line Items]
Notional Value		$ 1,900
Forward Rate | $ / ¥		20.1915
Unrealized gain/(loss) recorded at balance sheet date		$ (24)