Vishay Intertechnology (VSH) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	011-07416
Entity Registrant Name	Vishay Intertechnology, Inc.
Entity Central Index Key	0000103730
Entity Incorporation, State or Country Code	DE
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
Title of 12(b) Security	Common stock, par value $0.10 per share
Trading Symbol	VSH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class B Convertible Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		12,097,148
Common stock, par value $0.10 per share [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		126,238,599

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,095,119	$ 610,825
Short-term investments	78,994	305,272
Accounts receivable, net	442,646	416,178
Inventories:
Finished goods	165,936	156,234
Work in process	271,107	261,345
Raw materials	206,499	201,300
Total inventories	643,542	618,879
Prepaid expenses and other current assets	179,825	170,056
Total current assets	2,440,126	2,121,210
Property and equipment, at cost:
Land	76,139	75,907
Buildings and improvements	692,037	658,829
Machinery and equipment	2,973,943	2,857,636
Construction in progress	226,460	243,038
Allowance for depreciation	(2,788,393)	(2,704,951)
Property and equipment, net	1,180,186	1,130,459
Right of use assets	127,992	131,193
Deferred income taxes	128,109	104,667
Goodwill	200,895	201,432
Other intangible assets, net	72,126	77,896
Other assets	91,773	98,796
Total assets	4,241,207	3,865,653
Current liabilities:
Trade accounts payable	207,440	189,099
Payroll and related expenses	162,113	166,079
Lease liabilities	26,097	25,319
Other accrued expenses	238,565	261,606
Income taxes	82,734	84,155
Total current liabilities	716,949	726,258
Long-term debt less current portion	817,257	500,937
U.S. transition tax payable	47,027	83,010
Deferred income taxes	138,628	117,183
Long-term lease liabilities	103,223	108,493
Other liabilities	92,896	92,530
Accrued pension and other postretirement costs	182,704	187,092
Total liabilities	2,098,684	1,815,503
Vishay stockholders' equity
Common stock	13,318	13,291
Class B convertible common stock	1,210	1,210
Capital in excess of par value	1,286,568	1,352,321
Retained earnings	1,003,700	773,228
Treasury stock (at cost)	(140,633)	(82,972)
Accumulated other comprehensive income (loss)	(25,883)	(10,827)
Total Vishay stockholders' equity	2,138,280	2,046,251
Noncontrolling interests	4,243	3,899
Total equity	2,142,523	2,050,150
Total liabilities, temporary equity, and equity	$ 4,241,207	$ 3,865,653

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Consolidated Condensed Statements of Operations [Abstract]
Net revenues	$ 853,653	$ 924,798	$ 2,616,809	$ 2,642,103
Costs of products sold	616,010	635,260	1,842,980	1,832,234
Gross profit	237,643	289,538	773,829	809,869
Selling, general, and administrative expenses	122,513	106,436	365,515	329,691
Operating income	115,130	183,102	408,314	480,178
Other income (expense):
Interest expense	(7,153)	(4,110)	(18,677)	(12,639)
Loss on early extinguishment of debt	(18,874)	0	(18,874)	0
Other	7,409	2,137	15,995	(2,234)
Total other income (expense)	(18,618)	(1,973)	(21,556)	(14,873)
Income before taxes	96,512	181,129	386,758	465,305
Income tax expense	30,557	40,566	113,199	108,023
Net earnings	65,955	140,563	273,559	357,282
Less: net earnings attributable to noncontrolling interests	426	502	1,211	1,260
Net earnings attributable to Vishay stockholders	$ 65,529	$ 140,061	$ 272,348	$ 356,022
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.47	$ 0.98	$ 1.95	$ 2.47
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.47	$ 0.98	$ 1.94	$ 2.46
Weighted average shares outstanding - basic (in shares)	139,083	142,887	139,828	143,983
Weighted average shares outstanding - diluted (in shares)	140,001	143,447	140,577	144,470
Cash dividends per share (in dollars per share)	$ 0.1	$ 0.1	$ 0.3	$ 0.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 65,955	$ 140,563	$ 273,559	$ 357,282
Other comprehensive income (loss), net of tax
Pension and other post-retirement actuarial items	363	1,321	647	4,245
Foreign currency translation adjustment	(38,901)	(50,070)	(15,703)	(113,086)
Other comprehensive income (loss)	(38,538)	(48,749)	(15,056)	(108,841)
Comprehensive income	27,417	91,814	258,503	248,441
Less: comprehensive income attributable to noncontrolling interests	426	502	1,211	1,260
Comprehensive income attributable to Vishay stockholders	$ 26,991	$ 91,312	$ 257,292	$ 247,181

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Operating activities
Net earnings	$ 273,559	$ 357,282
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	133,910	121,301
(Gain) loss on disposal of property and equipment	(495)	(372)
Inventory write-offs for obsolescence	27,469	18,197
Deferred income taxes	20,654	8,843
Stock compensation expense	11,610	5,717
Loss on extinguishment of debt	18,874	0
Other operating activities	7,574	(1,445)
Change in U.S. transition tax liability	(27,670)	(14,757)
Change in repatriation tax liability	0	(25,201)
Net change in operating assets and liabilities	(106,050)	(151,773)
Net cash provided by operating activities	359,435	317,792
Investing activities
Capital expenditures	(184,079)	(172,175)
Proceeds from sale of property and equipment	1,034	472
Purchase of businesses, net of cash received	(5,003)	0
Purchase of short-term investments	(82,166)	(182,079)
Maturity of short-term investments	308,021	132,892
Other investing activities	(1,219)	(199)
Net cash provided by (used in) investing activities	36,588	(221,089)
Financing activities
Proceeds from long-term borrowings	750,000	0
Repurchase of convertible senior notes due 2025	(386,745)	0
Net proceeds (payments) on revolving credit lines	(42,000)	0
Issuance costs	(26,547)	0
Cash paid for capped call	(94,200)	0
Repurchase of common stock held in treasury	(57,661)	(54,671)
Distributions to noncontrolling interests	(867)	(741)
Cash withholding taxes paid when shares withheld for vested equity awards	(3,994)	(2,123)
Net cash provided by (used in) financing activities	96,150	(100,597)
Effect of exchange rate changes on cash and cash equivalents	(7,879)	(35,222)
Net increase (decrease) in cash and cash equivalents	484,294	(39,116)
Cash and cash equivalents at beginning of period	610,825	774,108
Cash and cash equivalents at end of year	1,095,119	734,992
Common Stock [Member]
Financing activities
Dividends paid to common stockholders	(38,207)	(39,433)
Class B Convertible Common Stock [Member]
Financing activities
Dividends paid to common stockholders	$ (3,629)	$ (3,629)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Equity - USD ($) $ in Thousands	Capital In Excess of Par Value [Member]	Retained Earnings (Accumulated Deficit) [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Vishay Stockholders' Equity [Member]	Noncontrolling Interests [Member]	Total	Common Stock [Member] Common Stock [Member]	Class B Convertible Common Stock [Member] Common Stock [Member]
Balance at period start at Dec. 31, 2021	$ 1,347,830	$ 401,694	$ 0	$ (20,252)	$ 1,743,753	$ 2,967	$ 1,746,720	$ 13,271	$ 1,210
Net earnings	0	103,573	0	0	103,573	377	103,950	0	0
Other comprehensive income	0	0	0	(11,925)	(11,925)	0	(11,925)	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(2,142)	0	0	0	(2,123)	0	(2,123)	19	0
Dividends declared	22	(14,491)	0	0	(14,469)	0	(14,469)	0	0
Stock compensation expense	3,842	0	0	0	3,842	0	3,842	0	0
Repurchase of common stock held in treasury	0	0	(9,873)	0	(9,873)	0	(9,873)	0	0
Balance at period end at Apr. 02, 2022	1,349,552	490,776	(9,873)	(32,177)	1,812,778	3,344	1,816,122	13,290	1,210
Balance at period start at Dec. 31, 2021	1,347,830	401,694	0	(20,252)	1,743,753	2,967	1,746,720	13,271	1,210
Net earnings							357,282
Other comprehensive income							(108,841)
Balance at period end at Oct. 01, 2022	1,351,470	714,588	(54,671)	(129,093)	1,896,795	3,486	1,900,281	13,291	1,210
Balance at period start at Apr. 02, 2022	1,349,552	490,776	(9,873)	(32,177)	1,812,778	3,344	1,816,122	13,290	1,210
Net earnings	0	112,388	0	0	112,388	381	112,769	0	0
Other comprehensive income	0	0	0	(48,167)	(48,167)	0	(48,167)	0	0
Distributions to noncontrolling interests	0	0	0	0	0	(733)	(733)	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(1)	0	0		0	0	0	1	0
Dividends declared	22	(14,361)	0	0	(14,339)	0	(14,339)	0	0
Stock compensation expense	1,047	0	0	0	1,047	0	1,047	0	0
Repurchase of common stock held in treasury	0	0	(26,288)	0	(26,288)	0	(26,288)	0	0
Balance at period end at Jul. 02, 2022	1,350,620	588,803	(36,161)	(80,344)	1,837,419	2,992	1,840,411	13,291	1,210
Net earnings	0	140,061	0	0	140,061	502	140,563	0	0
Other comprehensive income	0	0	0	(48,749)	(48,749)	0	(48,749)	0	0
Distributions to noncontrolling interests	0	0	0	0	0	(8)	(8)	0	0
Dividends declared	22	(14,276)	0	0	(14,254)	0	(14,254)	0	0
Stock compensation expense	828	0	0	0	828	0	828	0	0
Repurchase of common stock held in treasury	0	0	(18,510)	0	(18,510)	0	(18,510)	0	0
Balance at period end at Oct. 01, 2022	1,351,470	714,588	(54,671)	(129,093)	1,896,795	3,486	1,900,281	13,291	1,210
Balance at period start at Dec. 31, 2022	1,352,321	773,228	(82,972)	(10,827)	2,046,251	3,899	2,050,150	13,291	1,210
Net earnings	0	111,781	0	0	111,781	408	112,189	0	0
Other comprehensive income	0	0	0	19,859	19,859	0	19,859	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(3,678)	0	0	0	(3,653)	0	(3,653)	25	0
Dividends declared	14	(14,034)	0	0	(14,020)	0	(14,020)	0	0
Stock compensation expense	2,965	0	0	0	2,965	0	2,965	0	0
Repurchase of common stock held in treasury	0	0	(20,173)	0	(20,173)	0	(20,173)	0	0
Balance at period end at Apr. 01, 2023	1,351,622	870,975	(103,145)	9,032	2,143,010	4,307	2,147,317	13,316	1,210
Balance at period start at Dec. 31, 2022	1,352,321	773,228	(82,972)	(10,827)	2,046,251	3,899	2,050,150	13,291	1,210
Net earnings							273,559
Other comprehensive income							(15,056)
Balance at period end at Sep. 30, 2023	1,286,568	1,003,700	(140,633)	(25,883)	2,138,280	4,243	2,142,523	13,318	1,210
Balance at period start at Apr. 01, 2023	1,351,622	870,975	(103,145)	9,032	2,143,010	4,307	2,147,317	13,316	1,210
Net earnings	0	95,038	0	0	95,038	377	95,415	0	0
Other comprehensive income	0	0	0	3,623	3,623	0	3,623	0	0
Distributions to noncontrolling interests	0	0	0	0	0	(867)	(867)	0	0
Dividends declared	14	(13,951)	0	0	(13,937)	0	(13,937)	0	0
Stock compensation expense	3,117	0	0	0	3,117	0	3,117	0	0
Repurchase of common stock held in treasury	0	0	(20,226)	0	(20,226)	0	(20,226)	0	0
Balance at period end at Jul. 01, 2023	1,354,753	952,062	(123,371)	12,655	2,210,625	3,817	2,214,442	13,316	1,210
Net earnings	0	65,529	0	0	65,529	426	65,955	0	0
Other comprehensive income	0	0	0	(38,538)	(38,538)	0	(38,538)	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(343)	0	0	0	(341)	0	(341)	2	0
Dividends declared	12	(13,891)	0	0	(13,879)	0	(13,879)	0	0
Stock compensation expense	5,528	0	0	0	5,528	0	5,528	0	0
Repurchase of common stock held in treasury	0	0	(17,262)	0	(17,262)	0	(17,262)	0	0
Capped call transactions	(73,382)	0	0	0	(73,382)	0	(73,382)	0	0
Balance at period end at Sep. 30, 2023	$ 1,286,568	$ 1,003,700	$ (140,633)	$ (25,883)	$ 2,138,280	$ 4,243	$ 2,142,523	$ 13,318	$ 1,210

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Oct. 01, 2022	Jul. 02, 2022	Apr. 02, 2022
Consolidated Condensed Statements of Equity (Parenthetical) [Abstract]
Restricted stock issuances (in shares)	21,617		254,513		11,308	189,731
Stock repurchase (in shares)	630,446	847,202	916,221	978,338	1,400,039	513,227
Dividends declared (in dollars per share)	$ 0.1	$ 0.1	$ 0.1	$ 0.1	$ 0.1	$ 0.1

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
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, 2022. The results of operations for the fiscal quarter and nine fiscal months ended September 30, 2023 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 2023 end on April 1, 2023, July 1, 2023, September 30, 2023, and December 31, 2023, respectively. The four fiscal quarters in 2022 ended on April 2, 2022, July 2, 2022, October 1, 2022, and December 31, 2022, respectively. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Acquisition and Divestiture Act

Acquisition and Divestiture Activities	9 Months Ended
	Sep. 30, 2023
Acquisition and Divestiture Activities [Abstract]
Acquisition and Divestiture Activities	Note 2 As part of its growth strategy, the Company seeks to expand through targeted acquisitions of other manufacturers of electronic components. These acquisition targets include businesses that have established positions in major markets, reputations for product quality and reliability, and product lines with which the Company has substantial marketing and technical expertise. It also includes certain businesses that possess technologies which the Company expects to further develop and commercialize. MaxPower Semiconductor, Inc. On October 28, 2022, the Company acquired all of the outstanding equity interests of MaxPower Semiconductor, Inc. ("MaxPower"), a San Jose, California-based fabless power semiconductor provider dedicated to delivering innovative and cost-effective technologies that optimize power management solutions. The acquisition of MaxPower will enhance the Company's current and future silicon carbide ("SiC") offerings for fast-growing markets such as electric vehicles. The Company paid cash of $50,000, net of cash acquired, at closing. Related to the transaction, Vishay may also be required to make certain contingent payments of up to $57,500, which would be payable upon the achievement of certain technology milestones, upon favorable resolution of certain technology licensing matters with a third party, and upon the disposition of MaxPower's investment in an equity affiliate. The purchase price for U.S. GAAP purposes includes the fair value, as of the acquisition date, of certain future contingent payments to non-employee equity holders of MaxPower. The estimated fair value of this contingent consideration as of the acquisition date was $6,851. The contingent consideration liability is included in other accrued expenses and other liabilities in the accompanying balance sheet and is remeasured each reporting period, with changes reported as selling, general, and administrative expenses on the consolidated condensed statement of operations. See Note 13 for further discussion on the fair value measurement. Based on an estimate of their fair values, the Company allocated $18,600 of the purchase price to definite-lived intangible assets. After allocating the purchase price to the assets acquired and liabilities assumed based on an estimation of their fair values at the date of acquisition, the Company recorded goodwill of $34,246 related to this acquisition. The goodwill related to this acquisition is included in the MOSFETs reporting unit for goodwill impairment testing. The results and operations of this acquisition have been included in the MOSFETs segment since October 28, 2022. Centerline Technologies, LLC On June 30, 2023, the Company acquired substantially all of the assets of Centerline Technologies, LLC ("Centerline"), a Massachusetts-based, privately held manufacturer of ceramic components used in many custom parts manufactured by certain of Vishay's Resistors businesses, for $5,003. Based on an estimate of fair values, the Company allocated $1,500 of the purchase price to definite-lived intangible assets. After allocating the purchase price to the assets acquired and liabilities assumed based on an estimation of their fair values at the date of acquisition, the Company recorded goodwill of $2,213 related to this acquisition. The acquired business will be vertically integrated into the Company's Resistors segment, and the goodwill related to this acquisition is included in the Resistors reporting unit for goodwill impairment testing. The results and operations of this acquisition have been included in the Resistors segment since June 30, 2023.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Note 3 – 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: September 30, 2023 December 31, 2022 Right of use assets Operating Leases Buildings and improvements $ 122,781 $ 126,933 Machinery and equipment 5,211 4,260 Total $ 127,992 $ 131,193 Current lease liabilities Operating Leases Buildings and improvements $ 23,405 $ 22,926 Machinery and equipment 2,692 2,393 Total $ 26,097 $ 25,319 Long-term lease liabilities Operating Leases Buildings and improvements $ 100,789 $ 106,693 Machinery and equipment 2,434 1,800 Total $ 103,223 $ 108,493 Total lease liabilities $ 129,320 $ 133,812 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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Lease expense Operating lease expense $ 7,035 $ 6,258 $ 20,803 $ 19,014 Short-term lease expense 248 212 756 752 Variable lease expense 101 119 412 219 Total lease expense $ 7,384 $ 6,589 $ 21,971 $ 19,985 The Company paid $20,912 and $18,062 for its operating leases in the nine fiscal months ended September 30, 2023 and October 1, 2022, 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 9.4 years and the weighted-average discount rate is 6.2% as of September 30, 2023. The undiscounted future lease payments for the Company's operating lease liabilities are as follows: September 30, 2023 2023 (excluding the nine fiscal months ended September 30, 2023) $ 6,872 2024 26,705 2025 23,627 2026 19,195 2027 17,485 Thereafter 79,852 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.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and October 1, 2022 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. During the nine fiscal months ended September 30, 2023, the liabilities for unrecognized tax benefits decreased by $4,483 on a net basis, primarily due to decreases for settlements, partially offset by increases for current accruals and interest.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Long-Term Debt [Abstract]
Long-Term Debt	Note 5 – Long-Term Debt Long-term debt consists of the following: September 30, 2023 December 31, 2022 Credit facility $ - $ 42,000 Convertible senior notes, due 2025 95,102 465,344 Convertible senior notes, due 2030 750,000 - Deferred financing costs (27,845 ) (6,407 ) 817,257 500,937 Less current portion - - $ 817,257 $ 500,937 Credit Facility The Company maintains a credit facility with a consortium of banks led by JPMorgan Chase Bank, N.A., as administrative agent, and the lenders, which was scheduled to mature on June 5, 2024 (the "Previous Credit Facility"). On May 8, 2023, the Company entered into an Amendment and Restatement Agreement, which provides an aggregate commitment of $750,000 of revolving loans available until May 8, 2028 (the “Amended and Restated Credit Facility”). The maturity date of the Amended and Restated Credit Facility will accelerate if within ninety-one days prior to the maturity of the Company’s convertible senior notes due 2025, the outstanding principal amount of such notes exceeds a defined liquidity measure as set forth in the Amended and Restated Credit Facility. U.S. Dollar borrowings under the Amended and Restated Credit Facility bear interest at the Secured Overnight Financing Rate (“SOFR”) plus a credit spread and an interest margin. The Amended and Restated Credit Facility also allows for borrowings in euro, British sterling, and Japanese yen, subject to a $250,000 limit. Borrowings in foreign currency bear interest at a local reference rate plus an interest margin. The applicable interest margin is based on Vishay's total leverage ratio. Based on Vishay's current total leverage ratio, borrowings bear interest at SOFR plus 1.60%, including the applicable credit spread. Vishay also pays a commitment fee, also based on its total leverage ratio, on undrawn amounts. The undrawn commitment fee, based on Vishay's current total leverage ratio, is 0.25% per annum. Similar to the Previous Credit Facility, the Amended and Restated Credit Facility requires the maintenance of financial covenant ratios. For compliance purposes, pursuant to the Amended and Restated Credit Facility, the leverage ratio is computed on a net basis, reducing the measure of outstanding debt by up to $250,000 of unrestricted cash. The Company must maintain a net leverage ratio of at least 3.25 to 1.00. Permitted investments and restricted payments are also subject to a pro forma net leverage ratio (2.75 to 1.00 and 2.50 to 1.00, respectively). Other terms and conditions of the Amended and Restated Credit Facility are substantially similar to the Previous Credit Facility. Convertible Debt Instruments Convertible Senior Notes due 2030 In September 2023, the Company issued $750,000 aggregate principal amount of 2.25% convertible senior notes due 2030 (the “2030 Notes”) to qualified institutional buyers pursuant to an exemption from registration provided by Rule 144A under the Securities Act. The Company used the net proceeds from this offering to repurchase $370,242 principal amount of its outstanding 2.25% convertible senior notes due 2025 (the “2025 Notes”) (as further described below), to reduce the outstanding balance of its Amended and Restated Credit Facility, to enter into capped call transactions (as further described below), and for other general corporate purposes. The 2030 Notes bear interest at a rate of 2.25% per year payable semi-annually in arrears on March 15 and September 15 of each year, beginning March 15, 2024. The 2030 Notes mature on September 15, 2030, unless earlier repurchased or converted. The 2030 Notes are convertible into shares of Vishay common stock at an initial conversion rate of 33.1609 shares of common stock per $1 principal amount of the notes, subject to adjustment. This initial conversion price represents a premium of 20% to the closing price of Vishay's common stock on September 7, 2023, which was $25.13 per share. This represents an initial effective conversion price of approximately $30.16 per share. The conversion rate of the 2030 Notes is not adjusted for quarterly cash dividends equal to or less than $0.10 per share of common stock. Pursuant to the indenture governing the 2030 Notes, the Company is required to satisfy its conversion obligations by paying cash equal to the principal amount of notes and settle any additional value in cash and/or shares at its discretion. Vishay must provide additional shares upon conversion if there is a "fundamental change" in the business as defined in the indenture governing the notes. The Company may not redeem the 2030 Notes prior to September 20, 2027. The Company may redeem for cash all or part of the 2030 Notes, at its option, on or after September 20, 2027, if the sale price of Vishay’s common stock has been at least 130% of the conversion price for a specified period at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest. If the Company elects to redeem fewer than all of the outstanding 2030 Notes, at least $100,000 aggregate principal amount of 2030 Notes must be outstanding and not subject to redemption. Prior to March 15, 2030, the holders of the 2030 Notes may convert their notes only under the following conditions: (1) the sale price of Vishay common stock reaches 130% of the applicable conversion price for a specified period during any fiscal quarter commencing after the fiscal quarter ending on December 31, 2023; (2) the trading price of the notes falls below 98% of the product of the last reported sale price of Vishay’s common stock and the conversion rate for a specified period; (3) the Company calls any or all of the 2030 Notes for redemption; or (4) upon the occurrence of specified corporate transactions. Capped Call Transactions In September 2023, in connection with the pricing and initial purchasers’ exercise in full of their option to purchase additional 2030 Notes, the Company entered into separate base and additional privately negotiated capped call transactions with an affiliate of an initial purchaser and certain other financial institutions. The capped call will initially cover, subject to customary anti-dilution adjustments, the aggregate number of shares of the Company’s common stock that initially underlie the 2030 Notes. The Company used $94,200 of the net proceeds from the 2030 Notes to pay the cost of the capped call transactions. The cap price of the capped call will initially be $43.98 per share and is subject to certain adjustments under the terms of the capped call. The capped call transactions are separate transactions entered into by the Company with each of the capped call counterparties, are not part of the terms of the 2030 Notes, and do not affect any holder’s rights under the 2030 Notes. Holders of the 2030 Notes do not have any rights with respect to the capped call. The capped call is classified within stockholders’ equity on the consolidated condensed balance sheet. Convertible Senior Notes due 2025 The Company used $386,745 of the net proceeds from the offering of the 2030 Notes to repurchase $370,242 principal amount of its outstanding 2025 Notes. As a result, the Company recognized a loss on early extinguishment of the 2025 Notes of $18,874, including the write-off of a portion of unamortized debt issuance costs. Prior to December 15, 2024, the holders of the convertible senior notes due 2025 may convert their notes only under the following circumstances: (1) 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. The following table summarizes some key facts and terms regarding the outstanding convertible senior notes as of September 30, 2023: 2025 Notes 2030 Notes Issuance date June 12, 2018 September 12, 2023 Maturity date June 15, 2025 September 15, 2030 Principal amount as of September 30, 2023 $ 95,102 $ 750,000 Cash coupon rate (per annum) 2.25 % 2.25 % Conversion rate (per $1 principal amount) 32.1062 33.1609 Effective conversion price (per share) $ 31.15 $ 30.16 130% of the current effective conversion price (per share) $ 40.50 $ 39.21

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Policy [Abstract]
Stockholders' Equity	Note 6 – Stockholders' Equity In 2022, the Company's Board of Directors adopted a Stockholder Return Policy that will remain in effect until such time as the Board votes to amend or rescind the policy. The Stockholder Return Policy calls for the Company to return a prescribed amount of cash flows on an annual basis. The Company intends to return such amounts directly, in the form of dividends, or indirectly, in the form of stock repurchases. The following table summarizes activity pursuant to this policy: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Dividends paid to stockholders $ 13,879 $ 14,254 $ 41,836 $ 43,062 Stock repurchases 17,262 18,510 57,661 54,671 Total $ 31,141 $ 32,764 $ 99,497 $ 97,733 The repurchased shares are being held as treasury stock. The number of shares of common stock being held as treasury stock was 6,634,442 and 4,240,573 as of September 30, 2023 and December 31, 2022, respectively.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Note 7 – Revenue Recognition Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Beginning balance $ 49,350 $ 40,775 $ 46,979 $ 39,759 Sales allowances 27,554 33,015 79,688 79,432 Credits issued (31,034 ) (32,202 ) (81,162 ) (76,497 ) Foreign currency (696 ) (849 ) (331 ) (1,955 ) Ending balance $ 45,174 $ 40,739 $ 45,174 $ 40,739

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 8 – 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, 2023 $ (7,598 ) $ (3,229 ) $ (10,827 ) Other comprehensive income (loss) before reclassifications - (15,703 ) $ (15,703 ) Tax effect - - $ - Other comprehensive income before reclassifications, net of tax - (15,703 ) $ (15,703 ) Amounts reclassified out of AOCI 1,017 - $ 1,017 Tax effect (370 ) - $ (370 ) Amounts reclassified out of AOCI, net of tax 647 - $ 647 Net other comprehensive income (loss) $ 647 $ (15,703 ) $ (15,056 ) Balance at September 30, 2023 $ (6,951 ) $ (18,932 ) $ (25,883 ) Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost. See Note 9 for further information.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2023
Pensions and Other Postretirement Benefits [Abstract]
Pensions and Other Postretirement Benefits	Note 9 – 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 third fiscal quarters of 2023 and 2022 for the Company’s defined benefit pension plans: Fiscal quarter ended September 30, 2023 Fiscal quarter ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 717 $ - $ 1,010 Interest cost 499 1,708 280 768 Expected return on plan assets - (568 ) - (418 ) Amortization of prior service cost 36 56 36 50 Amortization of losses (gains) (30 ) 575 427 1,140 Curtailment and settlement losses - 102 - 257 Net periodic benefit cost $ 505 $ 2,590 $ 743 $ 2,807 The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 30, 2023 and October 1, 2022 for the Company’s defined benefit pension plans: Nine fiscal months ended September 30, 2023 Nine fiscal months ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 2,164 $ - $ 3,195 Interest cost 1,498 5,114 841 2,433 Expected return on plan assets - (1,708 ) - (1,318 ) Amortization of prior service cost 108 167 108 159 Amortization of losses (gains) (90 ) 748 1,280 3,616 Curtailment and settlement losses - 315 - 801 Net periodic benefit cost $ 1,516 $ 6,800 $ 2,229 $ 8,886 Other Postretirement Benefits The following table shows the components of the net periodic benefit cost for the third fiscal quarters of 2023 and 2022 for the Company’s other postretirement benefit plans: Fiscal quarter ended September 30, 2023 Fiscal quarter ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 5 $ 34 $ 10 $ 57 Interest cost 56 32 45 13 Amortization of losses (gains) (80 ) 3 86 20 Net periodic benefit cost $ (19 ) $ 69 $ 141 $ 90 The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 30, 2023 and October 1, 2022 for the Company’s other postretirement benefit plans: Nine fiscal months ended September 30, 2023 Nine fiscal months ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 16 $ 102 $ 29 $ 180 Interest cost 168 94 134 42 Amortization of losses (gains) (241 ) 10 257 64 Net periodic benefit cost $ (57 ) $ 206 $ 420 $ 286

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 10 – Stock-Based Compensation 2023 Long-Term Incentive Plan The Company implemented the Vishay Intertechnology, Inc. 2023 Long-Term Incentive Plan (the "2023 Plan") after receiving stockholder approval at its 2023 Annual Meeting of Stockholders on May 23, 2023. The 2023 Plan allows the Company to grant up to 6,000,000 shares (subject to certain adjustments described in the 2023 Plan) of stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-based awards, phantom stock units, and other cash-based awards to employees, directors, consultants, and other service providers of the Company and its affiliates. Such instruments are available for grant until March 24, 2033. The Company has granted approximately 740,000 time-vested restricted stock units to employees pursuant to the 2023 Plan. 2007 Stock Incentive Program Under the Company's 2007 Stock Incentive Program (the "2007 Program"), as amended and restated, certain executive officers and board members of the Company were granted restricted stock units. No further awards will be granted pursuant to the 2007 Program. Pursuant to the terms of the 2023 Plan, any shares of common stock that are subject to outstanding awards granted pursuant to the 2007 Program that subsequently cease to be subject to such awards as a result of the termination, expiration, cancellation, or forfeiture of such awards and any shares of common stock withheld in settlement of tax withholding obligations associated with outstanding awards granted pursuant to the 2007 Program may become available for issuance under the 2023 Plan. A total of 1,294,546 shares of common stock were subject to awards granted pursuant to the 2007 Program as of May 23, 2023. The following table summarizes stock-based compensation expense recognized: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Restricted stock units $ 5,528 $ 828 $ 11,503 5,495 Phantom stock units - - 107 222 Total $ 5,528 $ 828 $ 11,610 5,717 The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at September 30, 2023 (amortization periods in years) Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 19,929 1.6 Phantom stock units - n/a Total $ 19,929 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 Company's stock incentive programs as of September 30, 2023 and changes during the nine 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, 2023 894 $ 19.73 Granted* 1,159 24.35 Vested** (342 ) 18.86 Cancelled or forfeited (1 ) 24.83 Outstanding at September 30, 2023 1,710 $ 23.03 Expected to vest at September 30, 2023 1,759 * Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. In addition to RSUs that vest based upon satisfaction of service or performance conditions, in 2023, the Company granted RSUs that vest based upon achievement of market conditions to certain executive officers. For RSUs with market conditions, the Company estimates the grant date fair value using a Monte Carlo valuation model and recognizes the expense for the awards over the period in which the condition is assessed regardless of whether the market condition is ultimately achieved. The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance and market criteria between the established target and maximum levels. RSUs with performance-based and market-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, 2024 165 - 165 January 1, 2025 168 - 168 January 1, 2026 221 - 221 Phantom Stock Units Phantom stock unit activity as of September 30, 2023 and changes during the nine 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, 2023 226 Granted 5 $ 21.48 Dividend equivalents issued 2 Redeemed for common stock* (113 ) Outstanding at September 30, 2023 120 * The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Information [Abstract]
Segment Information	Note 11 – Segment Information The following tables set forth business segment information: MOSFETs Diodes Optoelectronic Components Resistors Inductors Capacitors Corporate / Other* Total Fiscal quarter ended : Net revenues $ 205,027 $ 176,788 $ 64,441 $ 199,877 $ 89,947 $ 117,573 $ - $ 853,653 Segment Operating Income $ 52,755 $ 41,552 $ 13,087 $ 41,849 $ 25,078 $ 20,533 $ - $ 194,854 Fiscal quarter ended : Net revenues $ 225,186 $ 209,012 $ 73,447 $ 207,437 $ 83,503 $ 126,213 $ - $ 924,798 Segment Operating Income $ 71,867 $ 51,368 $ 22,021 $ 61,621 $ 22,585 $ 25,310 $ - $ 254,772 Nine fiscal months ended September 30, 2023 : Net revenues $ 610,596 $ 527,216 $ 189,293 $ 645,450 $ 259,524 $ 384,730 $ - $ 2,616,809 Segment Operating Income $ 167,544 $ 119,348 $ 41,136 $ 165,911 $ 73,642 $ 81,706 $ - $ 649,287 Nine fiscal months ended October 1, 2022 : Net revenues $ 556,255 $ 583,429 $ 232,399 $ 627,645 $ 255,888 $ 386,487 $ - $ 2,642,103 Segment Operating Income $ 164,993 $ 140,307 $ 72,575 $ 183,414 $ 71,698 $ 80,330 $ (6,661 ) $ 706,656 * Amounts reported in Corporate/Other above represent unallocated costs directly related to the COVID-19 pandemic, which are reported as costs of products sold on the consolidated condensed statement of operations. Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Reconciliation: Segment Operating Income $ 194,854 $ 254,772 $ 649,287 $ 706,656 Impact of the COVID-19 Pandemic on Selling, General, and Administrative Expenses - - - (546 ) Unallocated Selling, General, and Administrative Expenses (79,724 ) (71,670 ) (240,973 ) (225,932 ) Consolidated Operating Income $ 115,130 $ 183,102 $ 408,314 $ 480,178 Unallocated Other Income (Expense) (18,618 ) (1,973 ) (21,556 ) (14,873 ) Consolidated Income Before Taxes $ 96,512 $ 181,129 $ 386,758 $ 465,305 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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Distributors $ 438,126 $ 536,289 $ 1,396,021 $ 1,549,872 OEMs 358,791 322,260 1,044,039 908,384 EMS companies 56,736 66,249 176,749 183,847 Total Revenue $ 853,653 $ 924,798 $ 2,616,809 $ 2,642,103 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Asia $ 323,750 $ 352,160 $ 957,706 $ 1,040,942 Europe 315,264 296,779 968,286 862,728 Americas 214,639 275,859 690,817 738,433 Total Revenue $ 853,653 $ 924,798 $ 2,616,809 $ 2,642,103 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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Industrial $ 297,506 $ 362,380 $ 951,422 $ 1,050,704 Automotive 316,043 286,331 910,775 799,504 Computing 40,816 52,206 125,068 177,172 Military and Aerospace 67,623 56,861 198,489 159,062 Consumer Products 42,155 50,235 130,305 132,090 Power Supplies 38,897 50,822 127,684 132,248 Medical 34,447 33,675 116,688 99,139 Telecommunications 16,166 32,288 56,378 92,184 Total Revenue $ 853,653 $ 924,798 $ 2,616,809 $ 2,642,103

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 12 – 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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Numerator: Net earnings attributable to Vishay stockholders $ 65,529 $ 140,061 $ 272,348 $ 356,022 Denominator: Denominator for basic earnings per share: Weighted average shares 138,964 142,663 139,696 143,760 Outstanding phantom stock units 119 224 132 223 Adjusted weighted average shares 139,083 142,887 139,828 143,983 Effect of dilutive securities: Restricted stock units 918 560 749 487 Dilutive potential common shares 918 560 749 487 Denominator for diluted earnings per share: Adjusted weighted average shares - diluted 140,001 143,447 140,577 144,470 Basic earnings per share attributable to Vishay stockholders $ 0.47 $ 0.98 $ 1.95 $ 2.47 Diluted earnings per share attributable to Vishay stockholders $ 0.47 $ 0.98 $ 1.94 $ 2.46 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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Restricted stock units 3 168 107 278 If the average market price of Vishay common stock is less than the effective conversion prices of the convertible senior notes due 2025 and due 2030, respectively, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025 and due 2030. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, indenture governing the convertible senior notes due 2030, he average market price of Vishay common stock is less than the respective effective conversion prices of the convertible senior notes due 2025 and due 2030. In connection with the issuance of the convertible senior notes due 2030, the Company entered into capped call transactions (see Note 5), which were not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive. The capped calls are intended to reduce the potential dilution to the Company's common stock in the event that at the time of conversion of the convertible senior notes due 2030 the Company's common stock price exceeds the conversion price of the convertible senior notes due 2030.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 13 – Fair Value Measurements 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 September 30, 2023 Assets: Assets held in rabbi trusts $ 46,240 $ 22,250 $ 23,990 $ - Available for sale securities $ 3,674 3,674 - - $ 49,914 $ 25,924 $ 23,990 $ - Liability: MaxPower acquisition contingent consideration $ 6,955 $ - $ - $ 6,955 December 31, 2022 Assets: Assets held in rabbi trusts $ 50,173 $ 27,168 $ 23,005 $ - Available for sale securities $ 3,677 3,677 - - Precious metals $ 1,252 1,252 - - $ 55,102 $ 32,097 $ 23,005 $ - Liability: MaxPower acquisition contingent consideration $ 6,870 $ - $ - $ 6,870 There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented. 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. From time to time, the Company purchases precious metals bullion in excess of its immediate manufacturing needs to mitigate the risk of supply shortages or volatile price fluctuations. The metals are valued based on quoted market prices on the last business day of the period. The fair value measurement of the metals is considered a Level 1 measurement within the fair value hierarchy. The inventory of precious metals bullion in excess of its immediate manufacturing needs was not material at September 30, 2023. The Company may be required to make certain contingent payments to non-employee equity holders of MaxPower pursuant to the acquisition agreement, which would be payable upon the achievement of certain technology milestones, upon favorable resolution of certain technology licensing matters with a third party, and upon the disposition of MaxPower's investment in an equity affiliate. The fair value of these contingent consideration payments is determined by estimating the net present value of the expected cash flows based on the probability of expected payments. The fair value measurement of the contingent consideration is considered a Level 3 measurement within the fair value hierarchy. The fair value of the long-term debt, excluding the derivative liabilities and deferred financing costs, at September 30, 2023 and December 31, 2022 is approximately $831,400 and $491,100, respectively, compared to its carrying value, excluding the deferred financing costs, of $845,102 and $507,344, 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 September 30, 2023 and December 31, 2022, 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 September 30, 2023 and December 31, 2022, 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	On November 8, 2023, Vishay and Nexperia BV announced that they have entered into an agreement whereby Vishay will acquire Nexperia’s wafer fabrication facility and operations located in Newport, South Wales, U.K. for approximately $177,000 in cash, subject to customary post-closing adjustments. To effect the transaction, Vishay will acquire a 100% interest in the legal entity Neptune 6 Limited, and its wholly-owned operating subsidiary, Nexperia Newport Limited, which owns and operates the Newport facility. The closing of the transaction is subject to U.K. government review, the purchase rights of a third party, and customary closing conditions, and is expected to occur in the first quarter of 2024.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023 shares
Insider Trading Arrangements [Line Items]
Material Terms of Trading Arrangement	• Marc Zandman, Executive Chair of the Board of Directors and Chief Business Development Officer of the Company, adopted a Rule 10b5-1 Plan on September 14, 2023. Under this plan, up to 69,743 shares of Vishay common stock may be sold from January 15, 2024 until the plan expires
Name	Marc Zandman
Title	Executive Chair of the Board of Directors and Chief Business Development Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	September 14, 2023
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Arrangement Duration	167 days
Aggregate Available	69,743

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
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 2023 end on April 1, 2023, July 1, 2023, September 30, 2023, and December 31, 2023, respectively. The four fiscal quarters in 2022 ended on April 2, 2022, July 2, 2022, October 1, 2022, and December 31, 2022, respectively.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Income Taxes (Policies)

Income Taxes (Policies)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and October 1, 2022 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.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	9 Months Ended
	Sep. 30, 2023
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 prices of the convertible senior notes due 2025 and due 2030, respectively, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025 and due 2030. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, indenture governing the convertible senior notes due 2030, he average market price of Vishay common stock is less than the respective effective conversion prices of the convertible senior notes due 2025 and due 2030. In connection with the issuance of the convertible senior notes due 2030, the Company entered into capped call transactions (see Note 5), which were not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive. The capped calls are intended to reduce the potential dilution to the Company's common stock in the event that at the time of conversion of the convertible senior notes due 2030 the Company's common stock price exceeds the conversion price of the convertible senior notes due 2030.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
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: September 30, 2023 December 31, 2022 Right of use assets Operating Leases Buildings and improvements $ 122,781 $ 126,933 Machinery and equipment 5,211 4,260 Total $ 127,992 $ 131,193 Current lease liabilities Operating Leases Buildings and improvements $ 23,405 $ 22,926 Machinery and equipment 2,692 2,393 Total $ 26,097 $ 25,319 Long-term lease liabilities Operating Leases Buildings and improvements $ 100,789 $ 106,693 Machinery and equipment 2,434 1,800 Total $ 103,223 $ 108,493 Total lease liabilities $ 129,320 $ 133,812
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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Lease expense Operating lease expense $ 7,035 $ 6,258 $ 20,803 $ 19,014 Short-term lease expense 248 212 756 752 Variable lease expense 101 119 412 219 Total lease expense $ 7,384 $ 6,589 $ 21,971 $ 19,985
Undiscounted Future Lease Payments for Operating Lease Liabilities	The undiscounted future lease payments for the Company's operating lease liabilities are as follows: September 30, 2023 2023 (excluding the nine fiscal months ended September 30, 2023) $ 6,872 2024 26,705 2025 23,627 2026 19,195 2027 17,485 Thereafter 79,852

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Long-Term Debt [Abstract]
Long-term Debt Instruments	Long-term debt consists of the following: September 30, 2023 December 31, 2022 Credit facility $ - $ 42,000 Convertible senior notes, due 2025 95,102 465,344 Convertible senior notes, due 2030 750,000 - Deferred financing costs (27,845 ) (6,407 ) 817,257 500,937 Less current portion - - $ 817,257 $ 500,937
Key Facts and Terms of the Convertible Debt Instruments	The following table summarizes some key facts and terms regarding the outstanding convertible senior notes as of September 30, 2023: 2025 Notes 2030 Notes Issuance date June 12, 2018 September 12, 2023 Maturity date June 15, 2025 September 15, 2030 Principal amount as of September 30, 2023 $ 95,102 $ 750,000 Cash coupon rate (per annum) 2.25 % 2.25 % Conversion rate (per $1 principal amount) 32.1062 33.1609 Effective conversion price (per share) $ 31.15 $ 30.16 130% of the current effective conversion price (per share) $ 40.50 $ 39.21

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Policy [Abstract]
Schedule of Stockholder Return Policy [Table Text Block]	The following table summarizes activity pursuant to this policy: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Dividends paid to stockholders $ 13,879 $ 14,254 $ 41,836 $ 43,062 Stock repurchases 17,262 18,510 57,661 54,671 Total $ 31,141 $ 32,764 $ 99,497 $ 97,733

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue Recognition [Abstract]
Sales returns and allowances accrual activity	Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Beginning balance $ 49,350 $ 40,775 $ 46,979 $ 39,759 Sales allowances 27,554 33,015 79,688 79,432 Credits issued (31,034 ) (32,202 ) (81,162 ) (76,497 ) Foreign currency (696 ) (849 ) (331 ) (1,955 ) Ending balance $ 45,174 $ 40,739 $ 45,174 $ 40,739

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 $ (7,598 ) $ (3,229 ) $ (10,827 ) Other comprehensive income (loss) before reclassifications - (15,703 ) $ (15,703 ) Tax effect - - $ - Other comprehensive income before reclassifications, net of tax - (15,703 ) $ (15,703 ) Amounts reclassified out of AOCI 1,017 - $ 1,017 Tax effect (370 ) - $ (370 ) Amounts reclassified out of AOCI, net of tax 647 - $ 647 Net other comprehensive income (loss) $ 647 $ (15,703 ) $ (15,056 ) Balance at September 30, 2023 $ (6,951 ) $ (18,932 ) $ (25,883 )

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
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 third fiscal quarters of 2023 and 2022 for the Company’s defined benefit pension plans: Fiscal quarter ended September 30, 2023 Fiscal quarter ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 717 $ - $ 1,010 Interest cost 499 1,708 280 768 Expected return on plan assets - (568 ) - (418 ) Amortization of prior service cost 36 56 36 50 Amortization of losses (gains) (30 ) 575 427 1,140 Curtailment and settlement losses - 102 - 257 Net periodic benefit cost $ 505 $ 2,590 $ 743 $ 2,807 The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 30, 2023 and October 1, 2022 for the Company’s defined benefit pension plans: Nine fiscal months ended September 30, 2023 Nine fiscal months ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 2,164 $ - $ 3,195 Interest cost 1,498 5,114 841 2,433 Expected return on plan assets - (1,708 ) - (1,318 ) Amortization of prior service cost 108 167 108 159 Amortization of losses (gains) (90 ) 748 1,280 3,616 Curtailment and settlement losses - 315 - 801 Net periodic benefit cost $ 1,516 $ 6,800 $ 2,229 $ 8,886
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 third fiscal quarters of 2023 and 2022 for the Company’s other postretirement benefit plans: Fiscal quarter ended September 30, 2023 Fiscal quarter ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 5 $ 34 $ 10 $ 57 Interest cost 56 32 45 13 Amortization of losses (gains) (80 ) 3 86 20 Net periodic benefit cost $ (19 ) $ 69 $ 141 $ 90 The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 30, 2023 and October 1, 2022 for the Company’s other postretirement benefit plans: Nine fiscal months ended September 30, 2023 Nine fiscal months ended October 1, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 16 $ 102 $ 29 $ 180 Interest cost 168 94 134 42 Amortization of losses (gains) (241 ) 10 257 64 Net periodic benefit cost $ (57 ) $ 206 $ 420 $ 286

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Stock-Based Compensation [Abstract]
Summary of Recognized Stock-based Compensation Expense	The following table summarizes stock-based compensation expense recognized: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Restricted stock units $ 5,528 $ 828 $ 11,503 5,495 Phantom stock units - - 107 222 Total $ 5,528 $ 828 $ 11,610 5,717
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 September 30, 2023 (amortization periods in years) Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 19,929 1.6 Phantom stock units - n/a Total $ 19,929
RSU Activity	RSU activity under the Company's stock incentive programs as of September 30, 2023 and changes during the nine 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, 2023 894 $ 19.73 Granted* 1,159 24.35 Vested** (342 ) 18.86 Cancelled or forfeited (1 ) 24.83 Outstanding at September 30, 2023 1,710 $ 23.03 Expected to vest at September 30, 2023 1,759 * Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** 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	RSUs with performance-based and market-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, 2024 165 - 165 January 1, 2025 168 - 168 January 1, 2026 221 - 221
Phantom Stock Unit Activity Under the Phantom Stock Plan	Phantom stock unit activity as of September 30, 2023 and changes during the nine 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, 2023 226 Granted 5 $ 21.48 Dividend equivalents issued 2 Redeemed for common stock* (113 ) Outstanding at September 30, 2023 120 * The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
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 : Net revenues $ 205,027 $ 176,788 $ 64,441 $ 199,877 $ 89,947 $ 117,573 $ - $ 853,653 Segment Operating Income $ 52,755 $ 41,552 $ 13,087 $ 41,849 $ 25,078 $ 20,533 $ - $ 194,854 Fiscal quarter ended : Net revenues $ 225,186 $ 209,012 $ 73,447 $ 207,437 $ 83,503 $ 126,213 $ - $ 924,798 Segment Operating Income $ 71,867 $ 51,368 $ 22,021 $ 61,621 $ 22,585 $ 25,310 $ - $ 254,772 Nine fiscal months ended September 30, 2023 : Net revenues $ 610,596 $ 527,216 $ 189,293 $ 645,450 $ 259,524 $ 384,730 $ - $ 2,616,809 Segment Operating Income $ 167,544 $ 119,348 $ 41,136 $ 165,911 $ 73,642 $ 81,706 $ - $ 649,287 Nine fiscal months ended October 1, 2022 : Net revenues $ 556,255 $ 583,429 $ 232,399 $ 627,645 $ 255,888 $ 386,487 $ - $ 2,642,103 Segment Operating Income $ 164,993 $ 140,307 $ 72,575 $ 183,414 $ 71,698 $ 80,330 $ (6,661 ) $ 706,656 * Amounts reported in Corporate/Other above represent unallocated costs directly related to the COVID-19 pandemic, which are reported as costs of products sold on the consolidated condensed statement of operations.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Reconciliation: Segment Operating Income $ 194,854 $ 254,772 $ 649,287 $ 706,656 Impact of the COVID-19 Pandemic on Selling, General, and Administrative Expenses - - - (546 ) Unallocated Selling, General, and Administrative Expenses (79,724 ) (71,670 ) (240,973 ) (225,932 ) Consolidated Operating Income $ 115,130 $ 183,102 $ 408,314 $ 480,178 Unallocated Other Income (Expense) (18,618 ) (1,973 ) (21,556 ) (14,873 ) Consolidated Income Before Taxes $ 96,512 $ 181,129 $ 386,758 $ 465,305
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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Distributors $ 438,126 $ 536,289 $ 1,396,021 $ 1,549,872 OEMs 358,791 322,260 1,044,039 908,384 EMS companies 56,736 66,249 176,749 183,847 Total Revenue $ 853,653 $ 924,798 $ 2,616,809 $ 2,642,103 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Asia $ 323,750 $ 352,160 $ 957,706 $ 1,040,942 Europe 315,264 296,779 968,286 862,728 Americas 214,639 275,859 690,817 738,433 Total Revenue $ 853,653 $ 924,798 $ 2,616,809 $ 2,642,103 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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Industrial $ 297,506 $ 362,380 $ 951,422 $ 1,050,704 Automotive 316,043 286,331 910,775 799,504 Computing 40,816 52,206 125,068 177,172 Military and Aerospace 67,623 56,861 198,489 159,062 Consumer Products 42,155 50,235 130,305 132,090 Power Supplies 38,897 50,822 127,684 132,248 Medical 34,447 33,675 116,688 99,139 Telecommunications 16,166 32,288 56,378 92,184 Total Revenue $ 853,653 $ 924,798 $ 2,616,809 $ 2,642,103

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Numerator: Net earnings attributable to Vishay stockholders $ 65,529 $ 140,061 $ 272,348 $ 356,022 Denominator: Denominator for basic earnings per share: Weighted average shares 138,964 142,663 139,696 143,760 Outstanding phantom stock units 119 224 132 223 Adjusted weighted average shares 139,083 142,887 139,828 143,983 Effect of dilutive securities: Restricted stock units 918 560 749 487 Dilutive potential common shares 918 560 749 487 Denominator for diluted earnings per share: Adjusted weighted average shares - diluted 140,001 143,447 140,577 144,470 Basic earnings per share attributable to Vishay stockholders $ 0.47 $ 0.98 $ 1.95 $ 2.47 Diluted earnings per share attributable to Vishay stockholders $ 0.47 $ 0.98 $ 1.94 $ 2.46
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 Nine fiscal months ended September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Restricted stock units 3 168 107 278

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 Assets: Assets held in rabbi trusts $ 46,240 $ 22,250 $ 23,990 $ - Available for sale securities $ 3,674 3,674 - - $ 49,914 $ 25,924 $ 23,990 $ - Liability: MaxPower acquisition contingent consideration $ 6,955 $ - $ - $ 6,955 December 31, 2022 Assets: Assets held in rabbi trusts $ 50,173 $ 27,168 $ 23,005 $ - Available for sale securities $ 3,677 3,677 - - Precious metals $ 1,252 1,252 - - $ 55,102 $ 32,097 $ 23,005 $ - Liability: MaxPower acquisition contingent consideration $ 6,870 $ - $ - $ 6,870

Acquisition and Divestiture A_2

Acquisition and Divestiture Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 01, 2023	Dec. 31, 2022	Sep. 30, 2023	Oct. 01, 2022	Oct. 28, 2022
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Acquisition of business, net of cash acquired			$ 5,003	$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill		$ 201,432	$ 200,895
Centerline [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Business acquisition, effective date of acquisition	Jun. 30, 2023
Business acquisition, name of acquired entity	Centerline Technologies, LLC
Acquisition of business, net of cash acquired	$ 5,003
Definite-lived intangible assets	1,500
Goodwill related to acquisitions	$ 2,213
MaxPower [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Business acquisition, effective date of acquisition		Oct. 28, 2022
Business acquisition, name of acquired entity		MaxPower Semiconductor, Inc.
Acquisition of business, net of cash acquired		$ 50,000
Contingent Consideration Arrangements Highest Amount Payable					$ 57,500
Definite-lived intangible assets		18,600
Goodwill related to acquisitions		$ 34,246
Fair value of contingent consideration					$ 6,851

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Dec. 31, 2022
Assets and Liabilities [Abstract]
Right of use assets	$ 127,992		$ 127,992		$ 131,193
Current lease liabilities	26,097		26,097		25,319
Long-term lease liabilities	103,223		103,223		108,493
Total lease liabilities	129,320		129,320		133,812
Lease expense [Abstract]
Operating lease expense	7,035	$ 6,258	20,803	$ 19,014
Short-term lease expense	248	212	756	752
Variable lease expense	101	119	412	219
Total lease expense	$ 7,384	$ 6,589	21,971	19,985
Cash paid for operating leases			$ 20,912	$ 18,062
Weighted-average remaining lease term - operating leases	9 years 4 months 24 days		9 years 4 months 24 days
Weighted-average discount rate - operating leases	6.20%		6.20%
Undiscounted future lease payments for operating lease liabilities [Abstract]
2023	$ 6,872		$ 6,872
2024	26,705		26,705
2025	23,627		23,627
2026	19,195		19,195
2027	17,485		17,485
Thereafter	79,852		79,852
Building and Improvements [Member]
Assets and Liabilities [Abstract]
Right of use assets	122,781		122,781		126,933
Current lease liabilities	23,405		23,405		22,926
Long-term lease liabilities	100,789		100,789		106,693
Machinery and Equipment [Member]
Assets and Liabilities [Abstract]
Right of use assets	5,211		5,211		4,260
Current lease liabilities	2,692		2,692		2,393
Long-term lease liabilities	$ 2,434		$ 2,434		$ 1,800

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Income Taxes [Abstract]
Increase in liabilities for unrecognized tax benefits	$ 4,483

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Sep. 07, 2023	Dec. 31, 2022
Debt Instruments [Abstract]
Credit facility	$ 0		$ 0			$ 42,000
Deferred financing costs	(27,845)		(27,845)			(6,407)
Long-term debt	817,257		817,257			500,937
Less current portion	0		0			0
Long-term debt, less current portion	817,257		817,257			500,937
Stock price per share (in dollars per share)					$ 25.13
Repurchase price of convertible debt instruments			386,745	$ 0
Loss on extinguishment of debt, including the write-off of portion of unamortized debt issuance costs	(18,874)	$ 0	(18,874)	0
Cash paid for capped call	$ 94,200		$ (94,200)	$ 0
Cap price of capped call	$ 43.98		$ 43.98
Convertible Senior Notes, Due 2025 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 95,102		$ 95,102			465,344
Issuance date			Jun. 12, 2018
Debt maturity date			Jun. 15, 2025
Cash coupon rate	2.25%		2.25%
Effective conversion rate			32.1062
Debt instrument percentage of conversion price			130%
Debt instrument percentage of sales price of common stock	98%		98%
Maximum threshold of quarterly cash dividends per share of common stock for not adjusting conversion rate of convertible notes			$ 0.085
Principal amount of debt	$ 95,102		$ 95,102
130% of the conversion price (in dollars per share)			$ 40.5
Effective conversion price (in dollars per share)	$ 31.15		$ 31.15
Repurchase price of convertible debt instruments	$ 386,745
Principal amount of repurchased debt	370,242
Loss on extinguishment of debt, including the write-off of portion of unamortized debt issuance costs	18,874
Convertible Senior Notes, Due 2030 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 750,000		$ 750,000			$ 0
Issuance date			Sep. 12, 2023
Debt maturity date			Sep. 15, 2030
Cash coupon rate	2.25%		2.25%
Effective conversion rate			33.1609
Debt Instrument, Call Date, Earliest			Sep. 20, 2027
Debt Instrument, Convertible, Latest Date			Mar. 15, 2030
Debt instrument percentage of conversion price			130%
Debt instrument percentage of sales price of common stock	98%		98%
Maximum threshold of quarterly cash dividends per share of common stock for not adjusting conversion rate of convertible notes			$ 0.1
Principal amount of debt	$ 750,000		$ 750,000
Required minimum principal amount upon partial redemption	$ 100,000		$ 100,000
130% of the conversion price (in dollars per share)			$ 39.21
Effective conversion price (in dollars per share)	$ 30.16		$ 30.16
Revolving Credit Facility [Member]
Line of Credit Facility
Basis spread on variable rate			1.60%
Line of Credit Facility, Commitment Fee Percentage			0.25%
Line of credit facility, expiration date			May 08, 2028
Line of credit facility, initiation date			May 08, 2023
Line of credit facility, maximum borrowing capacity	$ 750,000		$ 750,000
Restricted payments pro forma ratio			2.5
Investments pro forma ratio			2.75
Credit Facility Net Leverage Ratio Maximum			3.25
Credit facility foreign borrowing sublimit			$ 250,000
Credit facility maximum unrestricted cash leverage ratio adjustment			$ 250,000
Previous Credit Facility [Member]
Line of Credit Facility
Line of credit facility, expiration date			Jun. 05, 2024

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Dec. 31, 2022
Stockholders' Equity Policy [Abstract]
Dividends declared	$ 13,879	$ 14,254	$ 41,836	$ 43,062
Treasury Stock, Value, Acquired, Par Value Method	17,262	18,510	57,661	54,671
Stockholder Return Policy Payments	$ 31,141	$ 32,764	$ 99,497	$ 97,733
Treasury Stock, Common, Shares	6,634,442		6,634,442		4,240,573

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Sales returns and allowances accrual activity [Roll Forward]
Beginning balance	$ 49,350	$ 40,775	$ 46,979	$ 39,759
Sales allowances	27,554	33,015	79,688	79,432
Credits issued	(31,034)	(32,202)	(81,162)	(76,497)
Foreign currency	(696)	(849)	(331)	(1,955)
Ending balance	$ 45,174	$ 40,739	$ 45,174	$ 40,739

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Oct. 01, 2022	Jul. 02, 2022	Apr. 02, 2022	Sep. 30, 2023	Oct. 01, 2022
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance			$ (10,827)				$ (10,827)
Other comprehensive income before reclassifications							(15,703)
Tax effect							0
Other comprehensive income before reclassifications, net of tax							(15,703)
Amounts reclassified out of AOCI							1,017
Tax effect							(370)
Amounts reclassified out of AOCI, net of tax							647
Net other comprehensive income	$ (38,538)	$ 3,623	19,859	$ (48,749)	$ (48,167)	$ (11,925)	(15,056)	$ (108,841)
Ending Balance	(25,883)						(25,883)
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			(7,598)				(7,598)
Other comprehensive income before reclassifications							0
Tax effect							0
Other comprehensive income before reclassifications, net of tax							0
Amounts reclassified out of AOCI							1,017
Tax effect							(370)
Amounts reclassified out of AOCI, net of tax							647
Net other comprehensive income							647
Ending Balance	(6,951)						(6,951)
Currency Translation Adjustment [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance			(3,229)				(3,229)
Other comprehensive income before reclassifications							(15,703)
Tax effect							0
Other comprehensive income before reclassifications, net of tax							(15,703)
Amounts reclassified out of AOCI							0
Tax effect							0
Amounts reclassified out of AOCI, net of tax							0
Net other comprehensive income							(15,703)
Ending Balance	(18,932)						(18,932)
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance			(10,827)				(10,827)
Net other comprehensive income	(38,538)	$ 3,623	$ 19,859	$ (48,749)	$ (48,167)	$ (11,925)
Ending Balance	$ (25,883)						$ (25,883)

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
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	499	280	1,498	841
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	36	36	108	108
Amortization of losses (gains)	(30)	427	(90)	1,280
Curtailment and settlement losses	0	0	0	0
Net periodic benefit cost	505	743	1,516	2,229
Defined Benefit Pension Plans [Member] | Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	717	1,010	2,164	3,195
Interest cost	1,708	768	5,114	2,433
Expected return on plan assets	(568)	(418)	(1,708)	(1,318)
Amortization of prior service cost (credit)	56	50	167	159
Amortization of losses (gains)	575	1,140	748	3,616
Curtailment and settlement losses	102	257	315	801
Net periodic benefit cost	2,590	2,807	6,800	8,886
Other Postretirement Benefits [Member] | U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	5	10	16	29
Interest cost	56	45	168	134
Amortization of losses (gains)	(80)	86	(241)	257
Net periodic benefit cost	(19)	141	(57)	420
Other Postretirement Benefits [Member] | Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	34	57	102	180
Interest cost	32	13	94	42
Amortization of losses (gains)	3	20	10	64
Net periodic benefit cost	$ 69	$ 90	$ 206	$ 286

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	May 23, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 5,528	$ 828	$ 11,610	$ 5,717
Unrecognized Compensation Cost		$ 19,929		$ 19,929
2007 Stock Incentive Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation arrangement by share-based payment award, options, non-vested, outstanding (in shares)						1,294,546
2023 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Expiration date of stock-based compensation plan		Mar. 24, 2033
Maximum number of shares granted under restricted stock, unrestricted stock, RSU's and stock options to officers, employees and employee directors (in shares)		6,000,000		6,000,000
Share-Based Awards Granted Pursuant to 2023 LTIP in Current Period				740,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 5,528	828	$ 11,503	5,495
Unrecognized Compensation Cost		$ 19,929		$ 19,929
Weighted Average Remaining Amortization Periods				1 year 7 months 6 days
Number of units [Abstract]
Outstanding (in shares)				894,000
Granted (in shares)				1,159,000
Vested (in shares)	[1]			(342,000)
Cancelled or forfeited (in shares)				(1,000)
Outstanding (in shares)		1,710,000		1,710,000
Expected to vest (in shares)		1,759,000		1,759,000
Weighted Average Grant-date Fair Value per Unit [Abstract]
Outstanding (in dollars per share)				$ 19.73
Granted (in dollars per share)				24.35
Vested (in dollars per share)	[1]			18.86
Cancelled or forfeited (in dollars per share)				24.83
Outstanding (in dollars per share)		$ 23.03		$ 23.03
Phantom Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 0	$ 0	$ 107	$ 222
Unrecognized Compensation Cost		$ 0		$ 0
Number of units [Abstract]
Outstanding (in shares)				226,000
Granted (in shares)				5,000
Dividend equivalents issued (in shares)				2,000
Redeemed for common stock				(113,000)
Outstanding (in shares)		120,000		120,000
Weighted Average Grant-date Fair Value per Unit [Abstract]
Granted (in dollars per share)				$ 21.48
Scheduled to Vest January 1, 2024 [Member] | Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		165,000		165,000
Expected to vest (in shares)		165,000		165,000
Not expected to vest (in shares)		0		0
Scheduled to Vest January 1, 2025 [Member] | Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		168,000		168,000
Expected to vest (in shares)		168,000		168,000
Not expected to vest (in shares)		0		0
Scheduled to Vest January 1, 2026 [Member] | Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		221,000		221,000
Expected to vest (in shares)		221,000		221,000
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		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Segment Reporting Information [Line Items]
Net revenues	$ 853,653	$ 924,798	$ 2,616,809	$ 2,642,103
Unallocated Selling, General, and Administrative Expenses	(122,513)	(106,436)	(365,515)	(329,691)
Operating income	115,130	183,102	408,314	480,178
Unallocated Other Income (Expense)	(18,618)	(1,973)	(21,556)	(14,873)
Consolidated Income Before Taxes	96,512	181,129	386,758	465,305
Distributors [Member]
Segment Reporting Information [Line Items]
Net revenues	438,126	536,289	1,396,021	1,549,872
OEMs [Member]
Segment Reporting Information [Line Items]
Net revenues	358,791	322,260	1,044,039	908,384
EMS Companies [Member]
Segment Reporting Information [Line Items]
Net revenues	56,736	66,249	176,749	183,847
Industrial [Member]
Segment Reporting Information [Line Items]
Net revenues	297,506	362,380	951,422	1,050,704
Automotive [Member]
Segment Reporting Information [Line Items]
Net revenues	316,043	286,331	910,775	799,504
Computing [Member]
Segment Reporting Information [Line Items]
Net revenues	40,816	52,206	125,068	177,172
Military and Aerospace [Member]
Segment Reporting Information [Line Items]
Net revenues	67,623	56,861	198,489	159,062
Consumer Products [Member]
Segment Reporting Information [Line Items]
Net revenues	42,155	50,235	130,305	132,090
Power Supplies [Member]
Segment Reporting Information [Line Items]
Net revenues	38,897	50,822	127,684	132,248
Medical [Member]
Segment Reporting Information [Line Items]
Net revenues	34,447	33,675	116,688	99,139
Telecommunications [Member]
Segment Reporting Information [Line Items]
Net revenues	16,166	32,288	56,378	92,184
Asia [Member]
Segment Reporting Information [Line Items]
Net revenues	323,750	352,160	957,706	1,040,942
Europe [Member]
Segment Reporting Information [Line Items]
Net revenues	315,264	296,779	968,286	862,728
Americas [Member]
Segment Reporting Information [Line Items]
Net revenues	214,639	275,859	690,817	738,433
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	194,854	254,772	649,287	706,656
Operating Segments [Member] | MOSFETS [Member]
Segment Reporting Information [Line Items]
Net revenues	205,027	225,186	610,596	556,255
Operating income	52,755	71,867	167,544	164,993
Operating Segments [Member] | Diodes [Member]
Segment Reporting Information [Line Items]
Net revenues	176,788	209,012	527,216	583,429
Operating income	41,552	51,368	119,348	140,307
Operating Segments [Member] | Optoelectronic Components [Member]
Segment Reporting Information [Line Items]
Net revenues	64,441	73,447	189,293	232,399
Operating income	13,087	22,021	41,136	72,575
Operating Segments [Member] | Resistors [Member]
Segment Reporting Information [Line Items]
Net revenues	199,877	207,437	645,450	627,645
Operating income	41,849	61,621	165,911	183,414
Operating Segments [Member] | Inductors [Member]
Segment Reporting Information [Line Items]
Net revenues	89,947	83,503	259,524	255,888
Operating income	25,078	22,585	73,642	71,698
Operating Segments [Member] | Capacitors [Member]
Segment Reporting Information [Line Items]
Net revenues	117,573	126,213	384,730	386,487
Operating income	20,533	25,310	81,706	80,330
Operating Segments [Member] | Corporate Other [Member]
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Operating income	0	0	0	(6,661)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Impact of COVID-19 pandemic	0	0	0	(546)
Unallocated Selling, General, and Administrative Expenses	(79,724)	(71,670)	(240,973)	(225,932)
Unallocated Other Income (Expense)	$ (18,618)	$ (1,973)	$ (21,556)	$ (14,873)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Numerator [Abstract]
Net earnings attributable to Vishay stockholders	$ 65,529	$ 140,061	$ 272,348	$ 356,022
Denominator [Abstract]
Weighted average shares (in shares)	138,964	142,663	139,696	143,760
Outstanding phantom stock units (in shares)	119	224	132	223
Adjusted weighted average shares - basic (in shares)	139,083	142,887	139,828	143,983
Effect of dilutive securities [Abstract]
Restricted stock units (in shares)	918	560	749	487
Dilutive potential common shares (in shares)	918	560	749	487
Denominator for diluted earnings per share [Abstract]
Adjusted weighted average shares - diluted (in shares)	140,001	143,447	140,577	144,470
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.47	$ 0.98	$ 1.95	$ 2.47
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.47	$ 0.98	$ 1.94	$ 2.46
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	3	168	107	278

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
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	831,400	831,400	491,100
Carrying value of long-term debt, excluding derivative liabilities	845,102	845,102	507,344
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	46,240	46,240	50,173
Available for sale securities	3,674	3,674	3,677
Precious metals			1,252
Fair value assets	49,914	49,914	55,102
Liabilities [Abstract]
Contingent consideration fair value	6,955	6,955	6,870
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	22,250	22,250	27,168
Available for sale securities	3,674	3,674	3,677
Precious metals			1,252
Fair value assets	25,924	25,924	32,097
Liabilities [Abstract]
Contingent consideration fair value	0	0	0
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	23,990	23,990	23,005
Available for sale securities	0	0	0
Precious metals			0
Fair value assets	23,990	23,990	23,005
Liabilities [Abstract]
Contingent consideration fair value	0	0	0
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
Precious metals			0
Fair value assets	0	0	0
Liabilities [Abstract]
Contingent consideration fair value	$ 6,955	$ 6,955	$ 6,870

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - Nexperia Newport Wafer Fab [Member] $ in Thousands	1 Months Ended
	Nov. 08, 2023 USD ($)
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Business Acquisition, Date of Acquisition Agreement	Nov. 08, 2023
Business Combination, Price of Acquisition, Expected	$ 177,000
Business acquisition, name of acquired entity	Neptune 6 Limited
Business Acquisition, Percentage of Voting Interests Acquired	100%