Vishay Intertechnology (VSH) 10-Q 10 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 03, 2021	Aug. 06, 2021
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jul. 3, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	Vishay Intertechnology, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-07416
Entity Tax Identification Number	38-1686453
Entity Address, Address Line One	63 Lancaster Avenue
Entity Address, City or Town	Malvern
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	610
Local Phone Number	644-1300
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Small Business	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000103730
Title of 12(b) Security	Common stock, par value $0.10 per share
Trading Symbol	VSH
Security Exchange Name	NYSE
Common stock, par value $0.10 per share [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		132,710,732
Class B Convertible Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		12,097,148

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 726,759	$ 619,874
Short-term investments	129,035	158,476
Accounts receivable, net	398,651	338,632
Inventories:
Finished goods	144,993	120,792
Work in process	218,414	201,259
Raw materials	144,472	126,200
Total inventories	507,879	448,251
Prepaid expenses and other current assets	149,346	132,103
Total current assets	1,911,670	1,697,336
Property and equipment, at cost:
Land	75,547	76,231
Buildings and improvements	636,540	641,041
Machinery and equipment	2,745,465	2,732,771
Construction in progress	91,386	86,520
Allowance for depreciation	(2,633,944)	(2,593,398)
Property and equipment, net	914,994	943,165
Right of use assets	107,426	102,440
Goodwill	157,991	158,183
Other intangible assets, net	61,799	66,795
Other assets	196,903	186,554
Total assets	3,350,783	3,154,473
Current liabilities:
Trade accounts payable	224,226	196,203
Payroll and related expenses	151,668	141,034
Lease liabilities	21,542	22,074
Other accrued expenses	210,061	182,642
Income taxes	31,617	20,470
Total current liabilities	639,114	562,423
Long-term debt less current portion	454,031	394,886
U.S. transition tax payable	110,681	125,438
Deferred income taxes	1,869	1,852
Long-term lease liabilities	91,880	86,220
Other liabilities	105,631	104,356
Accrued pension and other postretirement costs	288,159	300,113
Total liabilities	1,691,365	1,575,288
Redeemable convertible debentures	0	170
Vishay stockholders' equity
Common stock	13,271	13,256
Class B convertible common stock	1,210	1,210
Capital in excess of par value	1,346,132	1,409,200
Retained earnings	296,629	138,990
Accumulated other comprehensive income (loss)	(221)	13,559
Total Vishay stockholders' equity	1,657,021	1,576,215
Noncontrolling interests	2,397	2,800
Total equity	1,659,418	1,579,015
Total liabilities, temporary equity, and equity	$ 3,350,783	$ 3,154,473

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Consolidated Condensed Statements of Operations [Abstract]
Net revenues	$ 819,120	$ 581,717	$ 1,583,752	$ 1,194,558
Costs of products sold	589,848	451,047	1,151,531	916,648
Gross profit	229,272	130,670	432,221	277,910
Selling, general, and administrative expenses	103,900	89,127	209,585	188,959
Restructuring and severance costs	0	743	0	743
Operating income	125,372	40,800	222,636	88,208
Other income (expense):
Interest expense	(4,443)	(8,430)	(8,819)	(16,982)
Loss on early extinguishment of debt	0	(1,146)	0	(4,066)
Other	(3,749)	(1,484)	(9,480)	(1,286)
Total other income (expense)	(8,192)	(11,060)	(18,299)	(22,334)
Income before taxes	117,180	29,740	204,337	65,874
Income tax expense	23,799	4,845	39,313	13,595
Net earnings	93,381	24,895	165,024	52,279
Less: net earnings attributable to noncontrolling interests	189	242	397	407
Net earnings attributable to Vishay stockholders	$ 93,192	$ 24,653	$ 164,627	$ 51,872
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.64	$ 0.17	$ 1.14	$ 0.36
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.64	$ 0.17	$ 1.13	$ 0.36
Weighted average shares outstanding - basic (in shares)	145,017	144,846	144,992	144,818
Weighted average shares outstanding - diluted (in shares)	145,445	145,170	145,453	145,232
Cash dividends per share (in dollars per share)	$ 0.095	$ 0.095	$ 0.19	$ 0.19

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 93,381	$ 24,895	$ 165,024	$ 52,279
Other comprehensive income (loss), net of tax
Pension and other post-retirement actuarial items	2,020	1,760	3,884	3,361
Foreign currency translation adjustment	9,285	20,088	(17,664)	(3,041)
Other comprehensive income (loss)	11,305	21,848	(13,780)	320
Comprehensive income	104,686	46,743	151,244	52,599
Less: comprehensive income attributable to noncontrolling interests	189	242	397	407
Comprehensive income attributable to Vishay stockholders	$ 104,497	$ 46,501	$ 150,847	$ 52,192

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020
Operating activities
Net earnings	$ 165,024	$ 52,279
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	83,879	82,158
(Gain) loss on disposal of property and equipment	(207)	(43)
Accretion of interest on convertible debt instruments	0	7,125
Inventory write-offs for obsolescence	9,550	11,587
Deferred income taxes	519	(4,370)
Loss on extinguishment of debt	0	4,066
Other	5,758	954
Change in U.S. transition tax liability	(14,757)	0
Change in repatriation tax liability	0	(16,258)
Net change in operating assets and liabilities	(74,983)	(12,589)
Net cash provided by operating activities	174,783	124,909
Investing activities
Capital expenditures	(60,710)	(48,832)
Proceeds from sale of property and equipment	234	230
Purchase of short-term investments	(27,488)	(157,086)
Maturity of short-term investments	53,679	108,044
Other investing activities	347	(529)
Net cash provided by (used in) investing activities	(33,938)	(98,173)
Financing activities
Repurchase of convertible debt instruments	(300)	(90,525)
Net proceeds (payments) on revolving credit lines	0	0
Net changes in short-term borrowings	0	(113)
Distributions to noncontrolling interests	(800)	(600)
Cash withholding taxes paid when shares withheld for vested equity awards	(1,963)	(2,016)
Net cash provided by (used in) financing activities	(30,577)	(120,738)
Effect of exchange rate changes on cash and cash equivalents	(3,383)	(201)
Net increase (decrease) in cash and cash equivalents	106,885	(94,203)
Cash and cash equivalents at beginning of period	619,874	694,133
Cash and cash equivalents at end of period	726,759	599,930
Common Stock [Member]
Financing activities
Dividends paid to common stockholders	(25,216)	(25,185)
Class B Convertible Common Stock [Member]
Financing activities
Dividends paid to common stockholders	$ (2,298)	$ (2,299)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Equity - USD ($) $ in Thousands	Capital In Excess of Par Value [Member]	Capital In Excess of Par Value [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings (Accumulated Deficit) [Member]	Retained Earnings (Accumulated Deficit) [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Total Vishay Stockholders' Equity [Member]	Total Vishay Stockholders' Equity [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Class B Convertible Common Stock [Member]	Class B Convertible Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Period Start at Dec. 31, 2019	$ 1,425,170		$ 72,180		$ (26,646)		$ 1,485,149		$ 2,540		$ 1,487,689		$ 13,235		$ 1,210
Net earnings	0		27,219		0		27,219		165		27,384		0		0
Other comprehensive income	0		0		(21,528)		(21,528)		0		(21,528)		0		0
Temporary equity reclassification	174		0		0		174		0		174		0		0
Issuance of stock and related tax withholdings for vested restricted stock units	(2,011)		0		0		(1,991)		0		(1,991)		20		0
Dividends declared			(13,759)		0		(13,741)		0		(13,741)		0		0
Dividends declared (APIC)	18
Stock compensation expense	2,998		0		0		2,998		0		2,998		0		0
Repurchase of convertible debt instruments	(10,089)		0		0		(10,089)		0		(10,089)		0		0
Balance at Period End at Apr. 04, 2020	1,416,260		84,570		(48,174)		1,467,121		2,705		1,469,826		13,255		1,210
Balance at Period Start at Dec. 31, 2019	1,425,170		72,180		(26,646)		1,485,149		2,540		1,487,689		13,235		1,210
Net earnings											52,279
Other comprehensive income											320
Balance at Period End at Jul. 04, 2020	1,412,775		95,462		(26,326)		1,496,377		2,347		1,498,724		13,256		1,210
Cumulative effect of accounting change for adoption of ASU		$ 0		$ (1,070)		$ 0		$ (1,070)		$ 0		$ (1,070)		$ 0		$ 0
Balance at Period Start at Apr. 04, 2020	1,416,260		84,570		(48,174)		1,467,121		2,705		1,469,826		13,255		1,210
Net earnings	0		24,653		0		24,653		242		24,895		0		0
Other comprehensive income	0		0		21,848		21,848		0		21,848		0		0
Distributions to noncontrolling interests	0		0		0		0		(600)		(600)		0		0
Issuance of stock and related tax withholdings for vested restricted stock units	(26)		0		0		(25)		0		(25)		1		0
Dividends declared			(13,761)		0		(13,743)		0		(13,743)		0		0
Dividends declared (APIC)	18
Stock compensation expense	875		0		0		875		0		875		0		0
Repurchase of convertible debt instruments	(4,352)		0		0		(4,352)		0		(4,352)		0		0
Balance at Period End at Jul. 04, 2020	1,412,775		95,462		(26,326)		1,496,377		2,347		1,498,724		13,256		1,210
Cumulative effect of accounting change for adoption of ASU											138,990	20,566
Balance at Period Start at Dec. 31, 2020	1,409,200		138,990		13,559		1,576,215		2,800		1,579,015		13,256		1,210
Net earnings	0		71,435		0		71,435		208		71,643		0		0
Other comprehensive income	0		0		(25,085)		(25,085)		0		(25,085)		0		0
Issuance of stock and related tax withholdings for vested restricted stock units	(1,978)		0		0		(1,963)		0		(1,963)		15		0
Dividends declared			(13,777)		0		(13,757)		0		(13,757)		0		0
Dividends declared (APIC)	20
Stock compensation expense	4,120		0		0		4,120		0		4,120		0		0
Balance at Period End at Apr. 03, 2021	1,345,284		217,214		(11,526)		1,565,453		3,008		1,568,461		13,271		1,210
Balance at Period Start at Dec. 31, 2020	1,409,200		138,990		13,559		1,576,215		2,800		1,579,015		13,256		1,210
Net earnings											165,024
Other comprehensive income											(13,780)
Balance at Period End at Jul. 03, 2021	1,346,132		296,629		(221)		1,657,021		2,397		1,659,418		13,271		1,210
Cumulative effect of accounting change for adoption of ASU		$ (66,078)		$ 20,566		$ 0		$ (45,512)		$ 0		$ (45,512)		$ 0		$ 0
Balance at Period Start at Apr. 03, 2021	1,345,284		217,214		(11,526)		1,565,453		3,008		1,568,461		13,271		1,210
Net earnings	0		93,192		0		93,192		189		93,381		0		0
Other comprehensive income	0		0		11,305		11,305		0		11,305		0		0
Distributions to noncontrolling interests	0		0		0		0		(800)		(800)		0		0
Dividends declared			(13,777)		0		(13,757)		0		(13,757)		0		0
Dividends declared (APIC)	20
Stock compensation expense	828		0		0		828		0		828		0		0
Balance at Period End at Jul. 03, 2021	$ 1,346,132		$ 296,629		$ (221)		$ 1,657,021		$ 2,397		1,659,418		$ 13,271		$ 1,210
Cumulative effect of accounting change for adoption of ASU											$ 296,629

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Apr. 03, 2021	Jul. 04, 2020	Apr. 04, 2020
Consolidated Condensed Statements of Equity (Parenthetical) [Abstract]
Restricted stock issuances (in shares)	149,722	13,141	199,251
Dividends declared (in dollars per share)	$ 0.095	$ 0.095	$ 0.095

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 03, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The accompanying unaudited consolidated condensed financial statements of Vishay Intertechnology, Inc. (“Vishay” or the “Company”) have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes necessary for presentation of financial position, results of operations, and cash flows required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. The information furnished reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair summary of the financial position, results of operations, and cash flows for the interim periods presented. The financial statements should be read in conjunction with the consolidated financial statements filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The results of operations for the fiscal quarter and six fiscal months ended July 3, 2021 are not necessarily indicative of the results to be expected for the full year. The Company reports interim financial information for 13-week periods beginning on a Sunday and ending on a Saturday, except for the first fiscal quarter, which always begins on January 1, and the fourth fiscal quarter, which always ends on December 31. The four fiscal quarters in 2021 end on April 3, 2021, July 3, 2021, October 2, 2021, and December 31, 2021, respectively. The four fiscal quarters in 2020 ended on April 4, 2020, July 4, 2020, October 3, 2020, and December 31, 2020, respectively. Recently Adopted Accounting Guidance In August 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-06, Debt – Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Leases

Leases	6 Months Ended
	Jul. 03, 2021
Leases [Abstract]
Leases	Note 2 – Leases The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows: July 3, 2021 December 31, 2020 Right of use assets Operating Leases Buildings and improvements $ 102,214 $ 97,429 Machinery and equipment 5,212 5,011 Total $ 107,426 $ 102,440 Current lease liabilities Operating Leases Buildings and improvements $ 18,805 $ 19,370 Machinery and equipment 2,737 2,704 Total $ 21,542 $ 22,074 Long-term lease liabilities Operating Leases Buildings and improvements $ 89,446 $ 83,926 Machinery and equipment 2,434 2,294 Total $ 91,880 $ 86,220 Total lease liabilities $ 113,422 $ 108,294 Lease expense is classified in the statements of operations based on asset use. Total lease cost recognized on the consolidated condensed statements of operations is as follows: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Lease expense Operating lease expense $ 6,248 $ 5,760 $ 12,400 $ 11,412 Short-term lease expense 428 225 753 419 Variable lease expense 66 6 193 29 Total lease expense $ 6,742 $ 5,991 $ 13,346 $ 11,860 The Company paid $12,176 and $12,867 for its operating leases in the six fiscal months ended July 3, 2021 and July 4, 2020, respectively, which are included in operating cash flows on the consolidated condensed statements of cash flows. The weighted-average remaining lease term for the Company's operating leases is 9.3 years and the weighted-average discount rate is 5.7% as of July 3, 2021. The undiscounted future lease payments for the Company's operating lease liabilities are as follows: July 3, 2021 2021 (excluding the six fiscal months ended July 3, 2021) $ 11,475 2022 20,560 2023 17,899 2024 15,929 2025 14,653 Thereafter 67,251 The undiscounted future lease payments presented in the table above include payments through the term of the lease, which may include periods beyond the noncancellable term. The difference between the total payments above and the lease liability balance is due to the discount rate used to calculate lease liabilities.

Restructuring and Related Activ

Restructuring and Related Activities	6 Months Ended
	Jul. 03, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities	Note 3 – Restructuring and Related Activities I The following table summarizes the activity to date related to this program: Expense recorded in 2019 $ 24,139 Cash paid (1,330 ) Foreign currency translation 35 Balance at December 31, 2019 $ 22,844 Expense recorded in 2020 743 Cash paid (10,813 ) Foreign currency translation 683 Balance at December 31, 2020 $ 13,457 Cash paid (9,962 ) Foreign currency translation (19 ) Balance at July 3, 2021 $ 3,476 The payment terms vary by country, but generally are paid in a lump sum at cessation of employment. Some payments are made over an extended period. The current portion of the liability is $2,326 and is included in other accrued expenses on the consolidated condensed balance sheet. The non-current portion of the liability is $1,150 and is included in other liabilities on the consolidated condensed balance sheet.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2021
Income Taxes [Abstract]
Income Taxes	Note 4 – Income Taxes The provision for income taxes consists of provisions for federal, state, and foreign income taxes. The effective tax rates for the periods ended July 3, 2021 and July 4, 2020 reflect the Company’s expected tax rate on reported income before income tax and tax adjustments. The Company operates in a global environment with significant operations in various jurisdictions outside the United States. Accordingly, the consolidated income tax rate is a composite rate reflecting the Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates. The Company adjusted its deferred tax balances by $12,127 upon the adoption of ASU No. 2020-06 on January 1, 2021, which was included in the cumulative-effect adjustment recorded to retained earnings. See Note 1. The Company recognized tax benefits of $3,881 and $8,276 due to changes in tax regulations during the fiscal quarter and six fiscal months ended July 3, 2021, respectively. During the six fiscal months ended July 3, 2021, the liabilities for unrecognized tax benefits decreased by $1,362 on a net basis, primarily due to a payment, statute expiration, and currency translation adjustments, partially offset by accruals for current year tax positions and interest.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 03, 2021
Long-Term Debt [Abstract]
Long-Term Debt	Note 5 – Long-Term Debt Long-term debt consists of the following: July 3, 2021 December 31, 2020 Credit facility $ - $ - Convertible senior notes, due 2025 465,344 406,268 Convertible senior debentures, due 2040 - 130 Deferred financing costs (11,313 ) (11,512 ) 454,031 394,886 Less current portion - - $ 454,031 $ 394,886 The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2025 as of July 3, 2021: Convertible Senior Notes Due 2025 Issuance date June 12, 2018 Maturity date June 15, 2025 Principal amount as of July 3, 2021 $ 465,344 Cash coupon rate (per annum) 2.25 % Nonconvertible debt borrowing rate at issuance (per annum) 5.50 % Conversion rate effective June 17, 2021 (per $1 principal amount) 31.9104 Effective conversion price effective June 17, 2021 (per share) $ 31.34 130% of the conversion price (per share) $ 40.74 Call date n/a Effective January 1, 2021, Vishay adopted ASU No. 2020-06. Upon adoption, Vishay derecognized the bifurcated equity component, debt discount, and deferred taxes and remeasured the deferred financing costs associated with its convertible debt instruments. See Note 1. The carrying value of Vishay's convertible debt instruments is now equal to the outstanding principal amount and interest expense is now equal to the cash interest paid. The remeasured deferred financing costs continue to be recognized as non-cash interest expense. Prior to December 15, 2024, the holders of the convertible senior notes due 2025 may convert their notes only under the following circumstances: (1) during any fiscal quarter after the fiscal quarter ending September 29, 2018, if the sale price of Vishay common stock reaches 130% of the conversion price for a specified period; (2) the trading price of the notes falls below 98% of the product of the sale price of Vishay's common stock and the conversion rate for a specified period; or (3) upon the occurrence of specified corporate transactions. The convertible senior notes due 2025 are not currently convertible. Upon conversion of the convertible senior notes due 2025, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in common stock. The quarterly cash dividend program of the Company results in adjustments to the conversion rate and effective conversion price for the convertible senior notes due 2025 effective as of the ex-dividend date of each cash dividend. The conversion rate and effective conversion price for the convertible senior notes due 2025 is adjusted for quarterly cash dividends to the extent such dividends exceed $0.085 per share of common stock. As of December 31, 2020, there were $300 of convertible senior debentures due 2040 outstanding. On January 5, 2021, Vishay gave notice to the holders of its convertible senior debentures due 2040 that Vishay would redeem the debentures on February 4, 2021. The redemption price was paid in cash and was equal to 100% of the principal amount plus accrued but unpaid interest to, but excluding February 4, 2021. The carrying value of the convertible senior notes due 2025 was $465,344 as of July 3, 2021. The carrying value of the liability and equity components of the convertible debt instruments prior to the adoption of ASU No. 2020-06 are reflected in the Company’s consolidated condensed balance sheet as follows: Principal amount of the debt instruments Unamortized discount Carrying value of liability component Equity component (including temporary equity) -net carrying value December 31, 2020 Convertible senior notes due 2025 $ 465,344 (59,076 ) $ 406,268 $ 66,127 Convertible senior debentures due 2040 $ 300 (170 ) $ 130 $ 121 Total $ 465,644 $ (59,246 ) $ 406,398 $ 66,248 Interest is payable on the convertible debt instruments semi-annually at the cash coupon rate. Prior to the adoption of ASU 2020-06 on January 1, 2021, the debt discount associated with the convertible debt instruments was amortized as additional non-cash interest expense using an effective annual interest rate equal to the Company’s estimated nonconvertible debt borrowing rate at the time of issuance. Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the fiscal quarters ended: Contractual coupon interest Non-cash amortization of debt discount Other non-cash interest expense Total interest expense related to the debt instruments July 3, 2021 Convertible senior notes due 2025 $ 2,618 - 433 $ 3,051 July 4, 2020 Convertible senior notes due 2025 $ 3,266 3,479 435 $ 7,180 Convertible senior debentures $ 16 9 - $ 25 Total $ 3,282 $ 3,488 $ 435 $ 7,205 Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the six fiscal months ended: Contractual coupon interest Non-cash amortization of debt discount Other non-cash interest expense Total interest expense related to the debt instruments July 3, 2021 Convertible senior notes due 2025 $ 5,236 - 866 $ 6,102 July 4, 2020 Convertible senior notes due 2025 $ 6,641 7,096 889 $ 14,626 Convertible senior debentures $ 60 29 - $ 89 Total $ 6,701 $ 7,125 $ 889 $ 14,715 Other non-cash interest expense includes amortization of deferred financing costs. Interest expense related to the convertible senior debentures was immaterial in 2021.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 03, 2021
Revenue Recognition [Abstract]
Revenue Recognition	Note 6 – Revenue Recognition Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Beginning balance $ 34,449 $ 34,812 $ 39,629 $ 40,508 Sales allowances 22,043 19,224 45,839 41,856 Credits issued (15,350 ) (14,991 ) (43,796 ) (42,973 ) Foreign currency 120 387 (410 ) 41 Ending balance $ 41,262 $ 39,432 $ 41,262 $ 39,432

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 03, 2021
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 7 – Accumulated Other Comprehensive Income (Loss) The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows: Pension and other post- retirement actuarial items Currency translation adjustment Total Balance at January 1, 2021 $ (77,075 ) $ 90,634 $ 13,559 Other comprehensive income before reclassifications - (17,664 ) $ (17,664 ) Tax effect - - $ - Other comprehensive income before reclassifications, net of tax - (17,664 ) $ (17,664 ) Amounts reclassified out of AOCI 5,323 - $ 5,323 Tax effect (1,439 ) - $ (1,439 ) Amounts reclassified out of AOCI, net of tax 3,884 - $ 3,884 Net other comprehensive income $ 3,884 $ (17,664 ) $ (13,780 ) Balance at July 3, 2021 $ (73,191 ) $ 72,970 $ (221 ) Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost. See Note 8 for further information.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
	Jul. 03, 2021
Pensions and Other Postretirement Benefits [Abstract]
Pensions and Other Postretirement Benefits	Note 8 – Pensions and Other Postretirement Benefits The Company maintains various retirement benefit plans. The service cost component of net periodic pension cost is classified in costs of products sold or selling, general, and administrative expenses on the consolidated condensed statements of operations based on the respective employee's function. The other components of net periodic pension cost are classified as other expense on the consolidated condensed statements of operations. Defined Benefit Pension Plans The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2021 and 2020 for the Company’s defined benefit pension plans: Fiscal quarter ended July 3, 2021 Fiscal quarter ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 1,191 $ - $ 1,071 Interest cost 254 754 341 919 Expected return on plan assets - (419 ) - (491 ) Amortization of prior service cost 36 50 36 30 Amortization of losses 446 1,887 297 1,588 Curtailment and settlement losses - 202 - 231 Net periodic benefit cost $ 736 $ 3,665 $ 674 $ 3,348 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 3, 2021 and July 4, 2020 for the Company’s defined benefit pension plans: Six fiscal months ended July 3, 2021 Six fiscal months ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 2,381 $ - $ 2,145 Interest cost 508 1,508 683 1,843 Expected return on plan assets - (836 ) - (986 ) Amortization of prior service cost 72 101 72 60 Amortization of losses 893 3,771 595 3,180 Curtailment and settlement losses - 401 - 460 Net periodic benefit cost $ 1,473 $ 7,326 $ 1,350 $ 6,702 Other Postretirement Benefits The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2021 and 2020 for the Company’s other postretirement benefit plans: Fiscal quarter ended July 3, 2021 Fiscal quarter ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 26 $ 70 $ 28 $ 68 Interest cost 41 11 59 16 Amortization of losses (gains) 13 30 6 31 Net periodic benefit cost $ 80 $ 111 $ 93 $ 115 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 3, 2021 and July 4, 2020 for the Company’s other postretirement benefit plans: Six fiscal months ended July 3, 2021 Six fiscal months ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 51 $ 141 $ 56 $ 137 Interest cost 82 22 118 31 Amortization of losses (gains) 26 59 13 62 Net periodic benefit cost $ 159 $ 222 $ 187 $ 230

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jul. 03, 2021
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 9 – Stock-Based Compensation The Company has various stockholder-approved programs which allow for the grant of stock-based compensation to officers, employees, and non-employee directors of the Company. The amount of compensation cost related to stock-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. The Company determines compensation cost for restricted stock units (“RSUs”) and phantom stock units based on the grant-date fair value of the underlying common stock adjusted for expected dividends paid over the required vesting period for non-participating awards. Compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award. The following table summarizes stock-based compensation expense recognized: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Restricted stock units $ 828 $ 875 $ 4,739 3,658 Phantom stock units - - 209 215 Total $ 828 $ 875 $ 4,948 3,873 The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at July 3, 2021 (amortization periods in years) Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 5,057 1.0 Phantom stock units - n/a Total $ 5,057 The Company currently expects all performance-based RSUs to vest and all of the associated unrecognized compensation cost for performance-based RSUs presented in the table above to be recognized. Restricted Stock Units RSU activity under the 2007 Program as of July 3, 2021 and changes during the six fiscal months then ended are presented below (number of RSUs in thousands) Number of RSUs Weighted Average Grant-date Fair Value per Unit Outstanding: January 1, 2021 793 $ 18.90 Granted 319 22.07 Vested* (235 ) 18.79 Cancelled or forfeited - - Outstanding at July 3, 2021 877 $ 20.08 Expected to vest at July 3, 2021 877 * The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance criteria between the established target and maximum levels. RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands) Vesting Date Expected to Vest Not Expected to Vest Total January 1, 2022 174 - 174 January 1, 2023 152 - 152 January 1, 2024 165 - 165 Phantom Stock Units Phantom stock unit activity under the phantom stock plan as of July 3, 2021 and changes during the six fiscal months then ended are presented below (number of phantom stock units in thousands) Number of units Grant-date Fair Value per Unit Outstanding: January 1, 2021 198 Granted 10 $ 20.89 Dividend equivalents issued 2 Outstanding at July 3, 2021 210

Segment Information

Segment Information	6 Months Ended
	Jul. 03, 2021
Segment Information [Abstract]
Segment Information	Note 10 – Segment Information The following tables set forth business segment information: MOSFETs Diodes Optoelectronic Components Resistors Inductors Capacitors Corporate / Other* Total Fiscal quarter ended July 3, 2021 : Net revenues $ 167,937 $ 174,815 $ 75,795 $ 194,722 $ 85,539 $ 120,312 $ - $ 819,120 Gross profit $ 47,434 $ 41,757 $ 24,522 $ 57,929 $ 28,680 $ 28,950 $ - $ 229,272 Segment operating income $ 37,510 $ 36,120 $ 20,152 $ 51,365 $ 26,244 $ 23,686 $ - $ 195,077 Fiscal quarter ended July 4, 2020 : Net revenues $ 118,944 $ 124,187 $ 49,130 $ 140,412 $ 65,185 $ 83,859 $ - $ 581,717 Gross profit $ 26,978 $ 24,904 $ 11,728 $ 32,513 $ 20,252 $ 15,218 $ (923 ) $ 130,670 Segment operating income $ 17,602 $ 19,814 $ 7,948 $ 27,879 $ 17,713 $ 10,524 $ (923 ) $ 100,557 Six fiscal months ended July 3, 2021 : Net revenues $ 321,160 $ 331,993 $ 153,566 $ 381,324 $ 168,997 $ 226,712 $ - $ 1,583,752 Gross Profit $ 84,542 $ 76,173 $ 50,148 $ 111,902 $ 56,431 $ 53,025 $ - $ 432,221 Segment Operating Income $ 64,717 $ 64,941 $ 41,362 $ 98,741 $ 51,534 $ 42,549 $ - $ 363,844 Six fiscal months ended July 4, 2020 : Net revenues $ 235,837 $ 239,530 $ 103,309 $ 299,620 $ 138,970 $ 177,292 $ - $ 1,194,558 Gross Profit $ 55,130 $ 44,422 $ 26,313 $ 77,286 $ 43,239 $ 35,573 $ (4,053 ) $ 277,910 Segment Operating Income $ 36,260 $ 34,236 $ 18,634 $ 66,764 $ 38,023 $ 25,594 $ (4,053 ) $ 215,458 * Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Reconciliation: Segment Operating Income $ 195,077 $ 100,557 $ 363,844 $ 215,458 Restructuring and Severance Costs - (743 ) - (743 ) Impact of the COVID-19 Pandemic on Selling, General, and Administrative Expenses - 747 - 430 Unallocated Selling, General, and Administrative Expenses (69,705 ) (59,761 ) (141,208 ) (126,937 ) Consolidated Operating Income $ 125,372 $ 40,800 $ 222,636 $ 88,208 Unallocated Other Income (Expense) (8,192 ) (11,060 ) (18,299 ) (22,334 ) Consolidated Income Before Taxes $ 117,180 $ 29,740 $ 204,337 $ 65,874 The Company has a broad line of products that it sells to OEMs, EMS companies, and independent distributors. The distribution of sales by customer type is shown below: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Distributors $ 492,809 $ 349,562 $ 916,934 $ 655,008 OEMs 277,418 190,799 572,055 451,928 EMS companies 48,893 41,356 94,763 87,622 Total Revenue $ 819,120 $ 581,717 $ 1,583,752 $ 1,194,558 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Asia $ 347,343 $ 260,625 $ 669,803 $ 477,709 Europe 268,828 179,928 537,151 412,980 Americas 202,949 141,164 376,798 303,869 Total Revenue $ 819,120 $ 581,717 $ 1,583,752 $ 1,194,558 The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and medical end markets. Sales by end market are presented below: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Industrial $ 322,133 $ 226,877 $ 592,934 $ 441,988 Automotive 247,029 133,834 503,002 335,777 Telecommunications 22,956 33,496 47,858 63,188 Computing 64,632 55,719 124,531 100,942 Consumer Products 43,609 22,571 84,404 43,124 Power Supplies 42,045 32,176 77,291 57,370 Military and Aerospace 43,173 41,451 84,711 85,386 Medical 33,543 35,593 69,021 66,783 Total revenue $ 819,120 $ 581,717 $ 1,583,752 $ 1,194,558

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 11 – Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share attributable to Vishay stockholders (shares in thousands) Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Numerator: Net earnings attributable to Vishay stockholders $ 93,192 $ 24,653 $ 164,627 $ 51,872 Denominator: Denominator for basic earnings per share: Weighted average shares 144,808 144,651 144,784 144,624 Outstanding phantom stock units 209 195 208 194 Adjusted weighted average shares 145,017 144,846 144,992 144,818 Effect of dilutive securities: Convertible debt instruments - 5 5 50 Restricted stock units 428 319 456 364 Dilutive potential common shares 428 324 461 414 Denominator for diluted earnings per share: Adjusted weighted average shares - diluted 145,445 145,170 145,453 145,232 Basic earnings per share attributable to Vishay stockholders $ 0.64 $ 0.17 $ 1.14 $ 0.36 Diluted earnings per share attributable to Vishay stockholders $ 0.64 $ 0.17 $ 1.13 $ 0.36 Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares that would have an antidilutive effect or have unsatisfied performance conditions (in thousands) Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Convertible debt instruments: Convertible Senior Notes, due 2025 - 18,321 - 18,704 Convertible Senior Debentures, due 2041 - 155 - 122 Weighted average other 317 387 317 356 If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, he average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 03, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 12 – Fair Value Measurements The fair value measurement accounting guidance establishes a valuation hierarchy of the inputs used to measure fair value. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect the Company’s own assumptions. An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented. The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis: Total Fair Value Level 1 Level 2 Level 3 July 3, 2021 Assets: Assets held in rabbi trusts $ 58,326 $ 32,479 $ 25,847 $ - Available for sale securities $ 4,710 4,710 - - $ 63,036 $ 37,189 $ 25,847 $ - December 31, 2020 Assets: Assets held in rabbi trusts $ 57,892 $ 34,145 23,747 $ - Available for sale securities $ 4,917 4,917 - - $ 62,809 $ 39,062 $ 23,747 $ - The Company maintains non-qualified trusts, referred to as “rabbi” trusts, to fund payments under deferred compensation and non-qualified pension plans. Rabbi trust assets consist primarily of marketable securities, classified as available-for-sale and company-owned life insurance assets. The marketable securities held in the rabbi trusts are valued using quoted market prices on the last business day of the period. The company-owned life insurance assets are valued in consultation with the Company’s insurance brokers using the value of underlying assets of the insurance contracts. The fair value measurement of the marketable securities held in the rabbi trust is considered a Level 1 measurement and the measurement of the company-owned life insurance assets is considered a Level 2 measurement within the fair value hierarchy. The Company holds investments in debt securities that are intended to fund a portion of its pension and other postretirement benefit obligations outside of the United States. The investments are valued based on quoted market prices on the last business day of the period. The fair value measurement of the investments is considered a Level 1 measurement within the fair value hierarchy. The Company enters into forward contracts with highly-rated financial institutions to mitigate the foreign currency risk associated with intercompany loans denominated in a currency other than the legal entity's functional currency. The notional amount of the forward contracts was $100,000 as of July 3, 2021 and December 31, 2020. The forward contracts are short-term in nature and are expected to be renewed at the Company's discretion until the intercompany loans are repaid. We have not designated the forward contracts as hedges for accounting purposes, and as such the change in the fair value of the contracts is recognized in the consolidated condensed statements of operations as a component of other income (expense). The Company estimates the fair value of the forward contracts based on applicable and commonly used pricing models using current market information and is considered a Level 2 measurement within the fair value hierarchy. The value of the forward contracts was immaterial as of July 3, 2021 and December 31, 2020. The Company does not utilize derivatives or other financial instruments for trading or other speculative purposes. The fair value of the long-term debt, excluding the derivative liabilities and deferred financing costs, at July 3, 2021 and December 31, 2020 is approximately $494,800 and $491,400, respectively, compared to its carrying value, excluding the deferred financing costs, of $465,344 and $406,398, respectively. The Company estimates the fair value of its long-term debt using a combination of quoted market prices for similar financing arrangements and expected future payments discounted at risk-adjusted rates, which are considered Level 2 inputs. At July 3, 2021 and December 31, 2020, the Company’s short-term investments were comprised of time deposits with financial institutions that have maturities that exceed 90 days from the date of acquisition; however they all mature within one year from the respective balance sheet dates. The Company's short-term investments are accounted for as held-to-maturity debt instruments, at amortized cost, which approximates their fair value. The investments are funded with excess cash not expected to be needed for operations prior to maturity; therefore, the Company believes it has the intent and ability to hold the short-term investments until maturity. At each reporting date, the Company performs an evaluation to determine if any unrealized losses are other-than-temporary. No other-than-temporary impairments have been recognized on these securities, and there are no unrecognized holding gains or losses for these securities during the periods presented. There have been no transfers to or from the held-to-maturity classification. All decreases in the account balance are due to returns of principal at the securities’ maturity dates. Interest on the securities is recognized as interest income when earned. At July 3, 2021 and December 31, 2020, the Company’s cash and cash equivalents were comprised of demand deposits, time deposits with maturities of three months or less when purchased, and money market funds. The Company estimates the fair value of its cash, cash equivalents, and short-term investments using level 2 inputs. Based on the current interest rates for similar investments with comparable credit risk and time to maturity, the fair value of the Company's cash, cash equivalents, and held-to-maturity short-term investments approximate the carrying amounts reported in the consolidated condensed balance sheets. The Company’s financial instruments also include accounts receivable and accounts payable. The carrying amounts for these financial instruments reported in the consolidated condensed balance sheets approximate their fair values.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jul. 03, 2021
Basis of Presentation [Abstract]
Fiscal Period, Policy	The Company reports interim financial information for 13-week periods beginning on a Sunday and ending on a Saturday, except for the first fiscal quarter, which always begins on January 1, and the fourth fiscal quarter, which always ends on December 31. The four fiscal quarters in 2021 end on April 3, 2021, July 3, 2021, October 2, 2021, and December 31, 2021, respectively. The four fiscal quarters in 2020 ended on April 4, 2020, July 4, 2020, October 3, 2020, and December 31, 2020, respectively.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance In August 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-06, Debt – Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Income Taxes (Policies)

Income Taxes (Policies)	6 Months Ended
	Jul. 03, 2021
Income Taxes [Abstract]
Effective Income Tax Rate Description	The provision for income taxes consists of provisions for federal, state, and foreign income taxes. The effective tax rates for the periods ended July 3, 2021 and July 4, 2020 reflect the Company’s expected tax rate on reported income before income tax and tax adjustments. The Company operates in a global environment with significant operations in various jurisdictions outside the United States. Accordingly, the consolidated income tax rate is a composite rate reflecting the Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates.

Stock-Based Compensation (Polic

Stock-Based Compensation (Policies)	6 Months Ended
	Jul. 03, 2021
Stock-Based Compensation [Abstract]
Share-based Compensation, Option and Incentive Plans Policy	The amount of compensation cost related to stock-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. The Company determines compensation cost for restricted stock units (“RSUs”) and phantom stock units based on the grant-date fair value of the underlying common stock adjusted for expected dividends paid over the required vesting period for non-participating awards. Compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Discussion on convertible debt included in computation of earnings per share diluted	If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, he average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	6 Months Ended
	Jul. 03, 2021
Fair Value Measurements [Abstract]
Fair Value of Financial Instruments, Policy	The fair value measurement accounting guidance establishes a valuation hierarchy of the inputs used to measure fair value. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect the Company’s own assumptions. An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 03, 2021
Leases [Abstract]
Right of Use Assets and Lease Liabilities	The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows: July 3, 2021 December 31, 2020 Right of use assets Operating Leases Buildings and improvements $ 102,214 $ 97,429 Machinery and equipment 5,212 5,011 Total $ 107,426 $ 102,440 Current lease liabilities Operating Leases Buildings and improvements $ 18,805 $ 19,370 Machinery and equipment 2,737 2,704 Total $ 21,542 $ 22,074 Long-term lease liabilities Operating Leases Buildings and improvements $ 89,446 $ 83,926 Machinery and equipment 2,434 2,294 Total $ 91,880 $ 86,220 Total lease liabilities $ 113,422 $ 108,294
Lease Expense	Lease expense is classified in the statements of operations based on asset use. Total lease cost recognized on the consolidated condensed statements of operations is as follows: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Lease expense Operating lease expense $ 6,248 $ 5,760 $ 12,400 $ 11,412 Short-term lease expense 428 225 753 419 Variable lease expense 66 6 193 29 Total lease expense $ 6,742 $ 5,991 $ 13,346 $ 11,860
Undiscounted Future Lease Payments for Operating Lease Liabilities	The undiscounted future lease payments for the Company's operating lease liabilities are as follows: July 3, 2021 2021 (excluding the six fiscal months ended July 3, 2021) $ 11,475 2022 20,560 2023 17,899 2024 15,929 2025 14,653 Thereafter 67,251

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	6 Months Ended
	Jul. 03, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Expenses	The following table summarizes the activity to date related to this program: Expense recorded in 2019 $ 24,139 Cash paid (1,330 ) Foreign currency translation 35 Balance at December 31, 2019 $ 22,844 Expense recorded in 2020 743 Cash paid (10,813 ) Foreign currency translation 683 Balance at December 31, 2020 $ 13,457 Cash paid (9,962 ) Foreign currency translation (19 ) Balance at July 3, 2021 $ 3,476

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jul. 03, 2021
Long-Term Debt [Abstract]
Long-term Debt Instruments	Long-term debt consists of the following: July 3, 2021 December 31, 2020 Credit facility $ - $ - Convertible senior notes, due 2025 465,344 406,268 Convertible senior debentures, due 2040 - 130 Deferred financing costs (11,313 ) (11,512 ) 454,031 394,886 Less current portion - - $ 454,031 $ 394,886
Key Facts and Terms of the Convertible Debt Instruments	The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2025 as of July 3, 2021: Convertible Senior Notes Due 2025 Issuance date June 12, 2018 Maturity date June 15, 2025 Principal amount as of July 3, 2021 $ 465,344 Cash coupon rate (per annum) 2.25 % Nonconvertible debt borrowing rate at issuance (per annum) 5.50 % Conversion rate effective June 17, 2021 (per $1 principal amount) 31.9104 Effective conversion price effective June 17, 2021 (per share) $ 31.34 130% of the conversion price (per share) $ 40.74 Call date n/a
Liability and Equity of Component of Convertible Debt Instruments	The carrying value of the convertible senior notes due 2025 was $465,344 as of July 3, 2021. The carrying value of the liability and equity components of the convertible debt instruments prior to the adoption of ASU No. 2020-06 are reflected in the Company’s consolidated condensed balance sheet as follows: Principal amount of the debt instruments Unamortized discount Carrying value of liability component Equity component (including temporary equity) -net carrying value December 31, 2020 Convertible senior notes due 2025 $ 465,344 (59,076 ) $ 406,268 $ 66,127 Convertible senior debentures due 2040 $ 300 (170 ) $ 130 $ 121 Total $ 465,644 $ (59,246 ) $ 406,398 $ 66,248
Convertible Debt Instruments, Interest Expense	Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the fiscal quarters ended: Contractual coupon interest Non-cash amortization of debt discount Other non-cash interest expense Total interest expense related to the debt instruments July 3, 2021 Convertible senior notes due 2025 $ 2,618 - 433 $ 3,051 July 4, 2020 Convertible senior notes due 2025 $ 3,266 3,479 435 $ 7,180 Convertible senior debentures $ 16 9 - $ 25 Total $ 3,282 $ 3,488 $ 435 $ 7,205 Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the six fiscal months ended: Contractual coupon interest Non-cash amortization of debt discount Other non-cash interest expense Total interest expense related to the debt instruments July 3, 2021 Convertible senior notes due 2025 $ 5,236 - 866 $ 6,102 July 4, 2020 Convertible senior notes due 2025 $ 6,641 7,096 889 $ 14,626 Convertible senior debentures $ 60 29 - $ 89 Total $ 6,701 $ 7,125 $ 889 $ 14,715

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 03, 2021
Revenue Recognition [Abstract]
Sales returns and allowances accrual activity	Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Beginning balance $ 34,449 $ 34,812 $ 39,629 $ 40,508 Sales allowances 22,043 19,224 45,839 41,856 Credits issued (15,350 ) (14,991 ) (43,796 ) (42,973 ) Foreign currency 120 387 (410 ) 41 Ending balance $ 41,262 $ 39,432 $ 41,262 $ 39,432

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jul. 03, 2021
Accumulated Other Comprehensive Income (Loss) [Abstract]
Other Comprehensive Income (Loss) and Income Tax Effects Allocated	The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows: Pension and other post- retirement actuarial items Currency translation adjustment Total Balance at January 1, 2021 $ (77,075 ) $ 90,634 $ 13,559 Other comprehensive income before reclassifications - (17,664 ) $ (17,664 ) Tax effect - - $ - Other comprehensive income before reclassifications, net of tax - (17,664 ) $ (17,664 ) Amounts reclassified out of AOCI 5,323 - $ 5,323 Tax effect (1,439 ) - $ (1,439 ) Amounts reclassified out of AOCI, net of tax 3,884 - $ 3,884 Net other comprehensive income $ 3,884 $ (17,664 ) $ (13,780 ) Balance at July 3, 2021 $ (73,191 ) $ 72,970 $ (221 )

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits (Tables)	6 Months Ended
	Jul. 03, 2021
Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost for Pension and Other Postretirement Benefit Plans	The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2021 and 2020 for the Company’s defined benefit pension plans: Fiscal quarter ended July 3, 2021 Fiscal quarter ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 1,191 $ - $ 1,071 Interest cost 254 754 341 919 Expected return on plan assets - (419 ) - (491 ) Amortization of prior service cost 36 50 36 30 Amortization of losses 446 1,887 297 1,588 Curtailment and settlement losses - 202 - 231 Net periodic benefit cost $ 736 $ 3,665 $ 674 $ 3,348 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 3, 2021 and July 4, 2020 for the Company’s defined benefit pension plans: Six fiscal months ended July 3, 2021 Six fiscal months ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 2,381 $ - $ 2,145 Interest cost 508 1,508 683 1,843 Expected return on plan assets - (836 ) - (986 ) Amortization of prior service cost 72 101 72 60 Amortization of losses 893 3,771 595 3,180 Curtailment and settlement losses - 401 - 460 Net periodic benefit cost $ 1,473 $ 7,326 $ 1,350 $ 6,702
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost for Pension and Other Postretirement Benefit Plans	The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2021 and 2020 for the Company’s other postretirement benefit plans: Fiscal quarter ended July 3, 2021 Fiscal quarter ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 26 $ 70 $ 28 $ 68 Interest cost 41 11 59 16 Amortization of losses (gains) 13 30 6 31 Net periodic benefit cost $ 80 $ 111 $ 93 $ 115 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 3, 2021 and July 4, 2020 for the Company’s other postretirement benefit plans: Six fiscal months ended July 3, 2021 Six fiscal months ended July 4, 2020 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 51 $ 141 $ 56 $ 137 Interest cost 82 22 118 31 Amortization of losses (gains) 26 59 13 62 Net periodic benefit cost $ 159 $ 222 $ 187 $ 230

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 03, 2021
Stock-Based Compensation [Abstract]
Summary of Recognized Stock-based Compensation Expense	The following table summarizes stock-based compensation expense recognized: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Restricted stock units $ 828 $ 875 $ 4,739 3,658 Phantom stock units - - 209 215 Total $ 828 $ 875 $ 4,948 3,873
Summary of Unrecognized Compensation Cost and Weighted Average Remaining Amortization Periods	The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at July 3, 2021 (amortization periods in years) Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 5,057 1.0 Phantom stock units - n/a Total $ 5,057
RSU Activity	RSU activity under the 2007 Program as of July 3, 2021 and changes during the six fiscal months then ended are presented below (number of RSUs in thousands) Number of RSUs Weighted Average Grant-date Fair Value per Unit Outstanding: January 1, 2021 793 $ 18.90 Granted 319 22.07 Vested* (235 ) 18.79 Cancelled or forfeited - - Outstanding at July 3, 2021 877 $ 20.08 Expected to vest at July 3, 2021 877 * The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.
RSUs with Performance-Based Vesting Criteria	The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance criteria between the established target and maximum levels. RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands) Vesting Date Expected to Vest Not Expected to Vest Total January 1, 2022 174 - 174 January 1, 2023 152 - 152 January 1, 2024 165 - 165
Phantom Stock Unit Activity Under the Phantom Stock Plan	Phantom stock unit activity under the phantom stock plan as of July 3, 2021 and changes during the six fiscal months then ended are presented below (number of phantom stock units in thousands) Number of units Grant-date Fair Value per Unit Outstanding: January 1, 2021 198 Granted 10 $ 20.89 Dividend equivalents issued 2 Outstanding at July 3, 2021 210

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 03, 2021
Segment Information [Abstract]
Segment Reporting Information by Segment	The following tables set forth business segment information: MOSFETs Diodes Optoelectronic Components Resistors Inductors Capacitors Corporate / Other* Total Fiscal quarter ended July 3, 2021 : Net revenues $ 167,937 $ 174,815 $ 75,795 $ 194,722 $ 85,539 $ 120,312 $ - $ 819,120 Gross profit $ 47,434 $ 41,757 $ 24,522 $ 57,929 $ 28,680 $ 28,950 $ - $ 229,272 Segment operating income $ 37,510 $ 36,120 $ 20,152 $ 51,365 $ 26,244 $ 23,686 $ - $ 195,077 Fiscal quarter ended July 4, 2020 : Net revenues $ 118,944 $ 124,187 $ 49,130 $ 140,412 $ 65,185 $ 83,859 $ - $ 581,717 Gross profit $ 26,978 $ 24,904 $ 11,728 $ 32,513 $ 20,252 $ 15,218 $ (923 ) $ 130,670 Segment operating income $ 17,602 $ 19,814 $ 7,948 $ 27,879 $ 17,713 $ 10,524 $ (923 ) $ 100,557 Six fiscal months ended July 3, 2021 : Net revenues $ 321,160 $ 331,993 $ 153,566 $ 381,324 $ 168,997 $ 226,712 $ - $ 1,583,752 Gross Profit $ 84,542 $ 76,173 $ 50,148 $ 111,902 $ 56,431 $ 53,025 $ - $ 432,221 Segment Operating Income $ 64,717 $ 64,941 $ 41,362 $ 98,741 $ 51,534 $ 42,549 $ - $ 363,844 Six fiscal months ended July 4, 2020 : Net revenues $ 235,837 $ 239,530 $ 103,309 $ 299,620 $ 138,970 $ 177,292 $ - $ 1,194,558 Gross Profit $ 55,130 $ 44,422 $ 26,313 $ 77,286 $ 43,239 $ 35,573 $ (4,053 ) $ 277,910 Segment Operating Income $ 36,260 $ 34,236 $ 18,634 $ 66,764 $ 38,023 $ 25,594 $ (4,053 ) $ 215,458 *
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Reconciliation: Segment Operating Income $ 195,077 $ 100,557 $ 363,844 $ 215,458 Restructuring and Severance Costs - (743 ) - (743 ) Impact of the COVID-19 Pandemic on Selling, General, and Administrative Expenses - 747 - 430 Unallocated Selling, General, and Administrative Expenses (69,705 ) (59,761 ) (141,208 ) (126,937 ) Consolidated Operating Income $ 125,372 $ 40,800 $ 222,636 $ 88,208 Unallocated Other Income (Expense) (8,192 ) (11,060 ) (18,299 ) (22,334 ) Consolidated Income Before Taxes $ 117,180 $ 29,740 $ 204,337 $ 65,874
Disaggregation of Revenue	The Company has a broad line of products that it sells to OEMs, EMS companies, and independent distributors. The distribution of sales by customer type is shown below: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Distributors $ 492,809 $ 349,562 $ 916,934 $ 655,008 OEMs 277,418 190,799 572,055 451,928 EMS companies 48,893 41,356 94,763 87,622 Total Revenue $ 819,120 $ 581,717 $ 1,583,752 $ 1,194,558 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Asia $ 347,343 $ 260,625 $ 669,803 $ 477,709 Europe 268,828 179,928 537,151 412,980 Americas 202,949 141,164 376,798 303,869 Total Revenue $ 819,120 $ 581,717 $ 1,583,752 $ 1,194,558 The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and medical end markets. Sales by end market are presented below: Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Industrial $ 322,133 $ 226,877 $ 592,934 $ 441,988 Automotive 247,029 133,834 503,002 335,777 Telecommunications 22,956 33,496 47,858 63,188 Computing 64,632 55,719 124,531 100,942 Consumer Products 43,609 22,571 84,404 43,124 Power Supplies 42,045 32,176 77,291 57,370 Military and Aerospace 43,173 41,451 84,711 85,386 Medical 33,543 35,593 69,021 66,783 Total revenue $ 819,120 $ 581,717 $ 1,583,752 $ 1,194,558

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Share	The following table sets forth the computation of basic and diluted earnings per share attributable to Vishay stockholders (shares in thousands) Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Numerator: Net earnings attributable to Vishay stockholders $ 93,192 $ 24,653 $ 164,627 $ 51,872 Denominator: Denominator for basic earnings per share: Weighted average shares 144,808 144,651 144,784 144,624 Outstanding phantom stock units 209 195 208 194 Adjusted weighted average shares 145,017 144,846 144,992 144,818 Effect of dilutive securities: Convertible debt instruments - 5 5 50 Restricted stock units 428 319 456 364 Dilutive potential common shares 428 324 461 414 Denominator for diluted earnings per share: Adjusted weighted average shares - diluted 145,445 145,170 145,453 145,232 Basic earnings per share attributable to Vishay stockholders $ 0.64 $ 0.17 $ 1.14 $ 0.36 Diluted earnings per share attributable to Vishay stockholders $ 0.64 $ 0.17 $ 1.13 $ 0.36
Weighted Average Potential Common Shares that Would have an Antidilutive Effect or have Unsatisfied Performance Conditions	Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares that would have an antidilutive effect or have unsatisfied performance conditions (in thousands) Fiscal quarters ended Six fiscal months ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Convertible debt instruments: Convertible Senior Notes, due 2025 - 18,321 - 18,704 Convertible Senior Debentures, due 2041 - 155 - 122 Weighted average other 317 387 317 356

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 03, 2021
Fair Value Measurements [Abstract]
Fair Value of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis: Total Fair Value Level 1 Level 2 Level 3 July 3, 2021 Assets: Assets held in rabbi trusts $ 58,326 $ 32,479 $ 25,847 $ - Available for sale securities $ 4,710 4,710 - - $ 63,036 $ 37,189 $ 25,847 $ - December 31, 2020 Assets: Assets held in rabbi trusts $ 57,892 $ 34,145 23,747 $ - Available for sale securities $ 4,917 4,917 - - $ 62,809 $ 39,062 $ 23,747 $ -

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Jul. 03, 2021	Apr. 03, 2021	Dec. 31, 2020	Apr. 04, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU	$ 296,629		$ 138,990
Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU		$ (45,512)	20,566	$ (1,070)
Long-term Debt [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU			59,246
Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU			$ (66,078)

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020	Dec. 31, 2020
Assets and Liabilities [Abstract]
Right of use assets	$ 107,426		$ 107,426		$ 102,440
Current lease liabilities	21,542		21,542		22,074
Long-term lease liabilities	91,880		91,880		86,220
Total lease liabilities	113,422		113,422		108,294
Lease expense [Abstract]
Operating lease expense	6,248	$ 5,760	12,400	$ 11,412
Short-term lease expense	428	225	753	419
Variable lease expense	66	6	193	29
Total lease expense	$ 6,742	$ 5,991	13,346	11,860
Cash paid for operating leases			$ 12,176	$ 12,867
Weighted-average remaining lease term - operating leases	9 years 3 months 18 days		9 years 3 months 18 days
Weighted-average discount rate - operating leases	5.70%		5.70%
Undiscounted future lease payments for operating lease liabilities [Abstract]
2021	$ 11,475		$ 11,475
2022	20,560		20,560
2023	17,899		17,899
2024	15,929		15,929
2025	14,653		14,653
Thereafter	67,251		67,251
Building and Improvements [Member]
Assets and Liabilities [Abstract]
Right of use assets	102,214		102,214		97,429
Current lease liabilities	18,805		18,805		19,370
Long-term lease liabilities	89,446		89,446		83,926
Machinery and Equipment [Member]
Assets and Liabilities [Abstract]
Right of use assets	5,212		5,212		5,011
Current lease liabilities	2,737		2,737		2,704
Long-term lease liabilities	$ 2,434		$ 2,434		$ 2,294

Restructuring and Related Act_3

Restructuring and Related Activities (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Dec. 31, 2019	Jul. 03, 2021	Jul. 04, 2020	Dec. 31, 2020
Restructuring Reserve [Roll Forward]
Restructuring and severance costs	$ 0	$ 743		$ 0	$ 743
2019 Global Cost Reduction and Management Rejuvenation Programs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, current	2,326			2,326
Restructuring reserve, noncurrent	1,150			1,150
Restructuring Reserve [Roll Forward]
Restructuring and severance costs			$ 24,139			$ 743
Cash paid			(1,330)	(9,962)		(10,813)
Foreign currency translation			35	(19)		683
Balance at end of period	3,476		$ 22,844	3,476		$ 13,457
Expected restructuring costs	$ 24,882			$ 24,882

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 03, 2021	Jul. 03, 2021
Income Taxes [Abstract]
Decrease in liabilities for unrecognized tax benefits		$ 1,362
Adoption of New Accounting Standard [Member]
Effect on Income Tax Expense (Benefit) [Line Items]
Deferred other tax expense (benefit)	$ 12,127
Change in Tax Regulation [Member]
Effect on Income Tax Expense (Benefit) [Line Items]
Deferred other tax expense (benefit)	$ (3,881)	$ (8,276)

Long-Term Debt (Details)

Long-Term Debt (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021USD ($)$ / shares	Jul. 04, 2020USD ($)	Jul. 03, 2021USD ($)$ / shares	Jul. 04, 2020USD ($)	Dec. 31, 2020USD ($)
Debt Instruments [Abstract]
Credit facility	$ 0		$ 0		$ 0
Deferred financing costs	(11,313)		(11,313)		(11,512)
Long-term debt	454,031		454,031		394,886
Less current portion	0		0		0
Long-term debt, less current portion	454,031		454,031		394,886
Interest expense [Abstract]
Contractual coupon interest		$ 3,282		$ 6,701
Non-cash amortization of debt discount		3,488	0	7,125
Other non-cash interest expense (income)		435		889
Total interest expense related to the debentures		7,205		14,715
Purchase price of extinguished debt			300	90,525
Loss on extinguishment of debt, including the write-off of portion of unamortized debt issuance costs	0	(1,146)	0	(4,066)
Convertible Senior Notes, Due 2025 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 465,344		$ 465,344		406,268
Issuance date			Jun. 12, 2018
Debt maturity date			Jun. 15, 2025
Cash coupon rate	2.25%		2.25%
Nonconvertible debt borrowing rate at issuance	5.50%		5.50%
Effective conversion rate			31.9104
Effective conversion price (in dollars per share) | $ / shares	$ 31.34		$ 31.34
130% of the conversion price (in dollars per share) | $ / shares			$ 40.74
Debt instrument percentage of conversion price			130.00%
Debt instrument percentage of sales price of common stock	98.00%		98.00%
Maximum threshold of quarterly cash dividends per share of common stock for not adjusting conversion rate of convertible notes | $ / shares			$ 0.085
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	$ 465,344		$ 465,344
Interest expense [Abstract]
Contractual coupon interest	2,618	3,266	5,236	6,641
Non-cash amortization of debt discount	0	3,479	0	7,096
Other non-cash interest expense (income)	433	435	866	889
Total interest expense related to the debentures	3,051	7,180	6,102	14,626
Convertible Senior Debentures, Due 2040 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 0		$ 0		130
Convertible Senior Debentures [Member]
Interest expense [Abstract]
Contractual coupon interest		16		60
Non-cash amortization of debt discount		9		29
Other non-cash interest expense (income)		0		0
Total interest expense related to the debentures		$ 25		$ 89
Convertible Debt [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt					465,644
Unamortized discount					(59,246)
Carrying value of liability component					406,398
Equity component - net carrying value					66,248
Convertible Debt [Member] | Convertible Senior Notes, Due 2025 [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt					465,344
Unamortized discount					(59,076)
Carrying value of liability component					406,268
Equity component - net carrying value					66,127
Convertible Debt [Member] | Convertible Senior Debentures, Due 2040 [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt					300
Unamortized discount					(170)
Carrying value of liability component					130
Equity component - net carrying value					$ 121

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Sales returns and allowances accrual activity [Roll Forward]
Beginning balance	$ 34,449	$ 34,812	$ 39,629	$ 40,508
Sales allowances	22,043	19,224	45,839	41,856
Credits issued	(15,350)	(14,991)	(43,796)	(42,973)
Foreign currency	120	387	(410)	41
Ending balance	$ 41,262	$ 39,432	$ 41,262	$ 39,432

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jul. 04, 2020	Apr. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		$ 13,559			$ 13,559
Other comprehensive income before reclassifications					(17,664)
Tax effect					0
Other comprehensive income before reclassifications, net of tax					(17,664)
Amounts reclassified out of AOCI					5,323
Tax effect					(1,439)
Amounts reclassified out of AOCI, net of tax					3,884
Net other comprehensive income	$ 11,305	(25,085)	$ 21,848	$ (21,528)	(13,780)	$ 320
Ending Balance	(221)				(221)
Pension and Other Post-Retirement Actuarial Items [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		(77,075)			(77,075)
Other comprehensive income before reclassifications					0
Tax effect					0
Other comprehensive income before reclassifications, net of tax					0
Amounts reclassified out of AOCI					5,323
Tax effect					(1,439)
Amounts reclassified out of AOCI, net of tax					3,884
Net other comprehensive income					3,884
Ending Balance	(73,191)				(73,191)
Currency Translation Adjustment [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		90,634			90,634
Other comprehensive income before reclassifications					(17,664)
Tax effect					0
Other comprehensive income before reclassifications, net of tax					(17,664)
Amounts reclassified out of AOCI					0
Tax effect					0
Amounts reclassified out of AOCI, net of tax					0
Net other comprehensive income					(17,664)
Ending Balance	72,970				72,970
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		13,559			13,559
Net other comprehensive income	11,305	$ (25,085)	$ 21,848	$ (21,528)
Ending Balance	$ (221)				$ (221)

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Defined Benefit Pension Plans [Member] | U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	254	341	508	683
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	36	36	72	72
Amortization of losses (gains)	446	297	893	595
Curtailment and settlement losses	0	0	0	0
Net periodic benefit cost	736	674	1,473	1,350
Defined Benefit Pension Plans [Member] | Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	1,191	1,071	2,381	2,145
Interest cost	754	919	1,508	1,843
Expected return on plan assets	(419)	(491)	(836)	(986)
Amortization of prior service cost (credit)	50	30	101	60
Amortization of losses (gains)	1,887	1,588	3,771	3,180
Curtailment and settlement losses	202	231	401	460
Net periodic benefit cost	3,665	3,348	7,326	6,702
Other Postretirement Benefits [Member] | U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	26	28	51	56
Interest cost	41	59	82	118
Amortization of losses (gains)	13	6	26	13
Net periodic benefit cost	80	93	159	187
Other Postretirement Benefits [Member] | Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	70	68	141	137
Interest cost	11	16	22	31
Amortization of losses (gains)	30	31	59	62
Net periodic benefit cost	$ 111	$ 115	$ 222	$ 230

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 828	$ 875	$ 4,948	$ 3,873
Unrecognized Compensation Cost		5,057		5,057
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		828	875	4,739	3,658
Unrecognized Compensation Cost		$ 5,057		$ 5,057
Weighted Average Remaining Amortization Periods				1 year
Number of units [Abstract]
Outstanding (in shares)				793
Granted (in shares)				319
Vested (in shares)	[1]			(235)
Cancelled or forfeited (in shares)				0
Outstanding (in shares)		877		877
Expected to vest (in shares)		877		877
Weighted Average Grant-date Fair Value per Unit [Abstract]
Outstanding (in dollars per share)				$ 18.90
Granted (in dollars per share)				22.07
Vested (in dollars per share)	[1]			18.79
Cancelled or forfeited (in dollars per share)				0
Outstanding (in dollars per share)		$ 20.08		$ 20.08
Phantom Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 0	$ 0	$ 209	$ 215
Unrecognized Compensation Cost		$ 0		$ 0
Number of units [Abstract]
Outstanding (in shares)				198
Granted (in shares)				10
Dividend equivalents issued (in shares)				2
Outstanding (in shares)		210		210
Weighted Average Grant-date Fair Value per Unit [Abstract]
Granted (in dollars per share)				$ 20.89
Scheduled to Vest January 1, 2022 [Member] | Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		174		174
Expected to vest (in shares)		174		174
Not expected to vest (in shares)		0		0
Scheduled to Vest January 1, 2023 [Member] | Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		152		152
Expected to vest (in shares)		152		152
Not expected to vest (in shares)		0		0
Scheduled to Vest January 1, 2024 [Member] | Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		165		165
Expected to vest (in shares)		165		165
Not expected to vest (in shares)		0		0
[1]	The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 819,120	$ 581,717	$ 1,583,752	$ 1,194,558
Gross profit	229,272	130,670	432,221	277,910
Restructuring and severance Costs	0	(743)	0	(743)
Unallocated Selling, General, and Administrative Expenses	(103,900)	(89,127)	(209,585)	(188,959)
Operating income	125,372	40,800	222,636	88,208
Unallocated Other Income (Expense)	(8,192)	(11,060)	(18,299)	(22,334)
Consolidated Income Before Taxes	117,180	29,740	204,337	65,874
Distributors [Member]
Segment Reporting Information [Line Items]
Net revenues	492,809	349,562	916,934	655,008
OEMs [Member]
Segment Reporting Information [Line Items]
Net revenues	277,418	190,799	572,055	451,928
EMS Companies [Member]
Segment Reporting Information [Line Items]
Net revenues	48,893	41,356	94,763	87,622
Industrial [Member]
Segment Reporting Information [Line Items]
Net revenues	322,133	226,877	592,934	441,988
Automotive [Member]
Segment Reporting Information [Line Items]
Net revenues	247,029	133,834	503,002	335,777
Telecommunications [Member]
Segment Reporting Information [Line Items]
Net revenues	22,956	33,496	47,858	63,188
Computing [Member]
Segment Reporting Information [Line Items]
Net revenues	64,632	55,719	124,531	100,942
Consumer Products [Member]
Segment Reporting Information [Line Items]
Net revenues	43,609	22,571	84,404	43,124
Power Supplies [Member]
Segment Reporting Information [Line Items]
Net revenues	42,045	32,176	77,291	57,370
Military and Aerospace [Member]
Segment Reporting Information [Line Items]
Net revenues	43,173	41,451	84,711	85,386
Medical [Member]
Segment Reporting Information [Line Items]
Net revenues	33,543	35,593	69,021	66,783
Asia [Member]
Segment Reporting Information [Line Items]
Net revenues	347,343	260,625	669,803	477,709
Europe [Member]
Segment Reporting Information [Line Items]
Net revenues	268,828	179,928	537,151	412,980
Americas [Member]
Segment Reporting Information [Line Items]
Net revenues	202,949	141,164	376,798	303,869
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	195,077	100,557	363,844	215,458
Operating Segments [Member] | MOSFETS [Member]
Segment Reporting Information [Line Items]
Net revenues	167,937	118,944	321,160	235,837
Gross profit	47,434	26,978	84,542	55,130
Operating income	37,510	17,602	64,717	36,260
Operating Segments [Member] | Diodes [Member]
Segment Reporting Information [Line Items]
Net revenues	174,815	124,187	331,993	239,530
Gross profit	41,757	24,904	76,173	44,422
Operating income	36,120	19,814	64,941	34,236
Operating Segments [Member] | Optoelectronic Components [Member]
Segment Reporting Information [Line Items]
Net revenues	75,795	49,130	153,566	103,309
Gross profit	24,522	11,728	50,148	26,313
Operating income	20,152	7,948	41,362	18,634
Operating Segments [Member] | Resistors [Member]
Segment Reporting Information [Line Items]
Net revenues	194,722	140,412	381,324	299,620
Gross profit	57,929	32,513	111,902	77,286
Operating income	51,365	27,879	98,741	66,764
Operating Segments [Member] | Inductors [Member]
Segment Reporting Information [Line Items]
Net revenues	85,539	65,185	168,997	138,970
Gross profit	28,680	20,252	56,431	43,239
Operating income	26,244	17,713	51,534	38,023
Operating Segments [Member] | Capacitors [Member]
Segment Reporting Information [Line Items]
Net revenues	120,312	83,859	226,712	177,292
Gross profit	28,950	15,218	53,025	35,573
Operating income	23,686	10,524	42,549	25,594
Operating Segments [Member] | Corporate Other [Member]
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Gross profit	0	(923)	0	(4,053)
Operating income	0	(923)	0	(4,053)
Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Restructuring and severance Costs	0	(743)	0	(743)
Impact of COVID-19 Pandemic on Selling, General, and Administrative Expenses	0	747	0	430
Unallocated Selling, General, and Administrative Expenses	(69,705)	(59,761)	(141,208)	(126,937)
Unallocated Other Income (Expense)	$ (8,192)	$ (11,060)	$ (18,299)	$ (22,334)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Numerator [Abstract]
Net earnings attributable to Vishay stockholders	$ 93,192	$ 24,653	$ 164,627	$ 51,872
Denominator [Abstract]
Weighted average shares (in shares)	144,808	144,651	144,784	144,624
Outstanding phantom stock units (in shares)	209	195	208	194
Adjusted weighted average shares - basic (in shares)	145,017	144,846	144,992	144,818
Effect of dilutive securities [Abstract]
Convertible and exchangeable debt instruments (in shares)	0	5	5	50
Restricted stock units (in shares)	428	319	456	364
Dilutive potential common shares (in shares)	428	324	461	414
Denominator for diluted earnings per share [Abstract]
Adjusted weighted average shares - diluted (in shares)	145,445	145,170	145,453	145,232
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.64	$ 0.17	$ 1.14	$ 0.36
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.64	$ 0.17	$ 1.13	$ 0.36
Convertible Senior Notes, Due 2025 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	18,321	0	18,704
Convertible Senior Debentures, Due 2041 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	155	0	122
Weighted Average Other [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	317	387	317	356

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jul. 03, 2021	Jul. 03, 2021	Dec. 31, 2020
Assets [Abstract]
Held-to-maturity Securities Transferred		$ 0	$ 0
Held-to-maturity Securities, Unrecognized Holding Gain	$ 0	0	0
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities	0		0
Held-to-maturity Securities, Unrecognized Holding Loss	0	0	0
Liabilities [Abstract]
Long-term debt, fair value	494,800	494,800	491,400
Carrying value of long-term debt, excluding derivative liabilities	465,344	465,344	406,398
Derivative, Notional Amount	100,000	100,000	100,000
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	58,326	58,326	57,892
Available for sale securities	4,710	4,710	4,917
Fair value assets	63,036	63,036	62,809
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	32,479	32,479	34,145
Available for sale securities	4,710	4,710	4,917
Fair value assets	37,189	37,189	39,062
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	25,847	25,847	23,747
Available for sale securities	0	0	0
Fair value assets	25,847	25,847	23,747
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	0	0	0
Available for sale securities	0	0	0
Fair value assets	$ 0	$ 0	$ 0