Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 21, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | MONOLITHIC POWER SYSTEMS INC | ||
Entity Central Index Key | 1,280,452 | ||
Trading Symbol | mpwr | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 42,132,242 | ||
Entity Public Float | $ 3.1 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 82,759 | $ 112,703 |
Short-term investments | 216,331 | 155,521 |
Accounts receivable, net | 38,037 | 34,248 |
Inventories | 99,281 | 71,469 |
Other current assets | 12,762 | 9,043 |
Total current assets | 449,170 | 382,984 |
Property and equipment, net | 144,636 | 85,171 |
Long-term investments | 5,256 | 5,354 |
Goodwill | 6,571 | 6,571 |
Acquisition-related intangible assets, net | 951 | 3,002 |
Deferred tax assets, net | 15,917 | 633 |
Other long-term assets | 30,068 | 27,411 |
Total assets | 652,569 | 511,126 |
Current liabilities: | ||
Accounts payable | 22,813 | 17,427 |
Accrued compensation and related benefits | 15,597 | 12,578 |
Accrued liabilities | 27,507 | 22,916 |
Total current liabilities | 65,917 | 52,921 |
Income tax liabilities | 31,621 | 3,870 |
Other long-term liabilities | 33,024 | 23,219 |
Total liabilities | 130,562 | 80,010 |
Commitments and contingencies (notes 12, 13 and 14) | ||
Stockholders' equity: | ||
Common stock and additional paid-in capital, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 41,614 and 40,793 as of December 31, 2017 and December 31, 2016, respectively | 376,586 | 315,969 |
Retained earnings | 143,608 | 119,362 |
Accumulated other comprehensive income (loss) | 1,813 | (4,215) |
Total stockholders’ equity | 522,007 | 431,116 |
Total liabilities and stockholders’ equity | $ 652,569 | $ 511,126 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 150,000 | 150,000 |
Common stock, shares issued (in shares) | 41,614 | 40,793 |
Common stock, shares outstanding (in shares) | 41,614 | 40,793 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 470,929 | $ 388,665 | $ 333,067 |
Cost of revenue | 212,646 | 177,792 | 152,898 |
Gross profit | 258,283 | 210,873 | 180,169 |
Operating expenses: | |||
Research and development | 82,359 | 73,643 | 65,787 |
Selling, general and administrative | 97,257 | 83,012 | 72,312 |
Litigation expense (benefit), net | 1,243 | (229) | 1,000 |
Total operating expenses | 180,859 | 156,426 | 139,099 |
Income from operations | 77,424 | 54,447 | 41,070 |
Interest and other income, net | 5,520 | 2,817 | 1,421 |
Income before income taxes | 82,944 | 57,264 | 42,491 |
Income tax provision | 17,741 | 4,544 | 7,319 |
Net income | $ 65,203 | $ 52,720 | $ 35,172 |
Net income per share: | |||
Basic (in dollars per share) | $ 1.58 | $ 1.30 | $ 0.89 |
Diluted (in dollars per share) | $ 1.50 | $ 1.26 | $ 0.86 |
Weighted-average shares outstanding: | |||
Basic (in shares) | 41,350 | 40,436 | 39,470 |
Diluted (in shares) | 43,578 | 41,915 | 40,869 |
Cash dividends declared per common share (in dollars per share) | $ 0.80 | $ 0.80 | $ 0.80 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 65,203 | $ 52,720 | $ 35,172 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustments, net of $0 tax in 2017, 2016 and 2015 | 6,369 | (5,033) | (4,166) |
Change in unrealized loss on available-for-sale securities, net of $0 tax in 2017, 2016 and 2015 | (341) | (648) | (179) |
Total other comprehensive income (loss), net of tax | 6,028 | (5,681) | (4,345) |
Comprehensive income | $ 71,231 | $ 47,039 | $ 30,827 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Foreign currency translation adjustments, tax | $ 0 | $ 0 | $ 0 |
Change in unrealized losses on securities, tax | $ 0 | $ 0 | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2014 | 38,832 | |||
Balance at Dec. 31, 2014 | $ 240,500 | $ 100,114 | $ 5,811 | $ 346,425 |
Net income | 35,172 | 35,172 | ||
Other comprehensive gain (loss) | (4,345) | (4,345) | ||
Dividends and dividend equivalents declared | (33,999) | $ (33,999) | ||
Exercise of stock options (in shares) | 498 | 498 | ||
Exercise of stock options | $ 7,744 | $ 7,744 | ||
Release of restricted stock units (in shares) | 948 | |||
Repurchase of common shares (in shares) | (645) | |||
Repurchase of common shares | $ (32,286) | (32,286) | ||
Shares issued under the employee stock purchase plan (in shares) | 56 | |||
Shares issued under the employee stock purchase plan | $ 2,227 | 2,227 | ||
Stock-based compensation expense | 41,650 | 41,650 | ||
Tax benefits from equity awards | $ 5,928 | 5,928 | ||
Balance (in shares) at Dec. 31, 2015 | 39,689 | |||
Balance at Dec. 31, 2015 | $ 265,763 | 101,287 | 1,466 | 368,516 |
Net income | 52,720 | 52,720 | ||
Other comprehensive gain (loss) | (5,681) | (5,681) | ||
Dividends and dividend equivalents declared | (34,645) | $ (34,645) | ||
Exercise of stock options (in shares) | 76 | 76 | ||
Exercise of stock options | $ 1,344 | $ 1,344 | ||
Release of restricted stock units (in shares) | 975 | |||
Shares issued under the employee stock purchase plan (in shares) | 53 | |||
Shares issued under the employee stock purchase plan | $ 2,463 | 2,463 | ||
Stock-based compensation expense | 44,934 | 44,934 | ||
Tax benefits from equity awards | $ 1,465 | $ 1,465 | ||
Balance (in shares) at Dec. 31, 2016 | 40,793 | 40,793 | ||
Balance at Dec. 31, 2016 | $ 315,969 | 119,362 | (4,215) | $ 431,116 |
Net income | 65,203 | 65,203 | ||
Other comprehensive gain (loss) | 6,028 | 6,028 | ||
Dividends and dividend equivalents declared | (35,816) | $ (35,816) | ||
Exercise of stock options (in shares) | 9 | 9 | ||
Exercise of stock options | $ 150 | $ 150 | ||
Release of restricted stock units (in shares) | 772 | |||
Shares issued under the employee stock purchase plan (in shares) | 40 | |||
Shares issued under the employee stock purchase plan | $ 2,701 | 2,701 | ||
Stock-based compensation expense | $ 52,625 | $ 52,625 | ||
Balance (in shares) at Dec. 31, 2017 | 41,614 | 41,614 | ||
Balance at Dec. 31, 2017 | $ 376,586 | 143,608 | 1,813 | $ 522,007 |
Cumulative-effect adjustment from adoption of ASU No. 2016-09 | $ 5,141 | $ (5,141) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Cash flows from operating activities: | |||
Net income | $ 65,203 | $ 52,720 | $ 35,172 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization of intangible assets | 16,101 | 14,674 | 13,783 |
(Gain) loss on sales or write-off of property and equipment | (3) | 57 | (339) |
Amortization of premium on available-for-sale investments | 1,976 | 1,019 | 463 |
(Gain) loss on deferred compensation plan investments | (2,531) | (1,257) | 133 |
Change in fair value of contingent consideration | (2,507) | ||
Deferred taxes, net | (15,238) | (5) | 42 |
Excess tax benefits from equity awards | (1,465) | (5,928) | |
Stock-based compensation expense | 52,617 | 44,989 | 41,563 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (3,785) | (3,421) | (5,201) |
Inventories | (27,795) | (8,323) | (22,210) |
Other assets | 1,603 | (11,021) | (390) |
Accounts payable | 3,077 | 5,483 | 147 |
Accrued compensation and related benefits | 2,397 | 3,136 | 1,068 |
Accrued liabilities | 10,852 | 8,035 | 9,942 |
Income tax liabilities | 29,347 | 3,165 | 3,998 |
Net cash provided by operating activities | 133,821 | 107,786 | 69,736 |
Cash flows from investing activities: | |||
Property and equipment purchases | (65,773) | (37,112) | (16,024) |
Proceeds from sales of property and equipment | 3 | 340 | |
Purchases of short-term investments | (140,531) | (236,912) | (223,018) |
Proceeds from maturities and sales of short-term investments | 77,502 | 223,344 | 189,549 |
Contributions to deferred compensation plan, net | (5,261) | (5,046) | (8,044) |
Net cash used in investing activities | (134,060) | (55,726) | (57,197) |
Cash flows from financing activities: | |||
Property and equipment purchased on extended payment terms | (250) | (300) | (300) |
Proceeds from exercise of stock options | 150 | 1,344 | 7,744 |
Proceeds from shares issued under the employee stock purchase plan | 2,701 | 2,463 | 2,227 |
Repurchase of common shares | (32,286) | ||
Dividends and dividend equivalents paid | (33,926) | (33,099) | (29,965) |
Excess tax benefits from equity awards | 1,465 | 5,928 | |
Net cash used in financing activities | (31,325) | (28,127) | (46,652) |
Effect of change in exchange rates | 1,620 | (2,090) | (1,293) |
Net increase (decrease) in cash and cash equivalents | (29,944) | 21,843 | (35,406) |
Cash and cash equivalents, beginning of period | 112,703 | 90,860 | 126,266 |
Cash and cash equivalents, end of period | 82,759 | 112,703 | 90,860 |
Supplemental disclosures for cash flow information: | |||
Cash paid for taxes and interest | 3,619 | 1,234 | 3,322 |
Supplemental disclosures of non-cash investing and financing activities: | |||
Liability accrued for property and equipment purchases | 3,061 | 787 | 2,184 |
Liability accrued for dividends and dividend equivalents | $ 10,686 | $ 10,416 | $ 10,109 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Monolithic Power Systems, Inc. (“MPS” or the “Company”) was incorporated in the State of California on August 22, 1997. November 17, 2004, . Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions used in these consolidated financial statements primarily include those related to revenue recognition, inventory valuation, valuation of share-based awards, valuation of goodwill and acquisition-related intangible assets, contingencies and tax valuation allowances. Actual results could differ from those estimates. Certain Significant Risks and Uncertainties Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. The Company ’s cash consists of checking and savings accounts. The Company’s cash equivalents include short-term, highly liquid investments purchased with remaining maturities at the date of purchase of three not not December 31, 2017 2016. The Company participates in the dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on its future financial position, results of operations or cash flows: advances and trends in new technologies and industry standards; competitive pressures in the form of new products or price reductions on current products; changes in product mix; changes in the overall demand for products offered by the Company; changes in third ’s ability to attract and retain employees necessary to support its growth. Foreign Currency In general, the functional currency of the Company ’s international subsidiaries is the local currency. The primary subsidiaries are located in China and Taiwan, which utilize the Renminbi and the New Taiwan Dollar as their currencies, respectively. Accordingly, assets and liabilities of the foreign subsidiaries are translated using exchange rates in effect at the end of the period. Revenue and costs are translated using average exchange rates for the period. The resulting translation adjustments are presented as a separate component of accumulated other comprehensive income (loss) in stockholders’ equity in the Consolidated Balance Sheets. In addition, the Company incurs foreign currency exchange gain or loss related to certain intercompany transactions between the U.S. and its foreign subsidiaries that are denominated in a currency other than the functional currency. In connection with the settlement and remeasurement of the balances, the Company recorded foreign currency exchange gain (loss) of $( 0.6 $0.1 $0.6 December 31, 2017, 2016 2015, Cash and Cash Equivalents The Company classifies all highly liquid investments with stated maturities of three Fair Value of Financial Instrument s Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three Level 1: Level 2: Level 3: The Company ’s financial instruments include cash and cash equivalents, and short-term and long-term investments. Cash equivalents are stated at cost, which approximates fair market value. The Company’s short-term and long-term investments are classified as available-for-sale securities and are stated at their fair market value. Premiums and discounts are amortized or accreted over the life of the related available-for-sale securities. Interest income is recognized when earned. The Company determines whether an impairment is temporary or other-than temporary. Unrealized gains or losses that are deemed to be temporary are recorded as a component of accumulated other comprehensive income (loss) in stockholders ’ equity in the Consolidated Balance Sheets, and changes in unrealized gains or losses are recorded in the Consolidated Statements of Comprehensive Income. The Company records an impairment charge in interest and other income, net, in the Consolidated Statements of Operations when an available-for-sale investment has experienced a decline in value that is deemed to be other-than-temporary. Other-than-temporary impairment exists when the Company either has the intent to sell the security, it will more likely than not not As of December 31, 2017 2016, ’s holdings in auction-rate securities was $5.3 $5.4 Inventories Inventories are stated at the lower of standard cost (which approximates actual cost determined on a first first basis) and estimated net realizable value. The Company writes down excess and obsolete inventory based on its age and forecasted demand, which includes estimates taking into consideration the Company’s outlook on market and economic conditions, technology changes, new product introductions and changes in strategic direction. Actual demand may may not Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Buildings and building improvements have estimated useful lives of 20 40 Production equipment and software have estimated useful lives of three seven 5 15 three five not Goodwill and Acquisition-Related Intangible Assets Goodwill represents the excess of the fair value of purchase consideration over the fair value of net tangible and identified intangible assets as of the date of acquisition. In-process research and development (“IPR&D”) assets represent the fair value of incomplete R&D projects that had not are initially capitalized at fair value as intangible assets with indefinite lives and assessed for impairment at each reporting period. When the IPR&D projects are completed, they are reclassified as amortizable intangible assets and are amortized over their estimated useful lives. Alternatively, if the IPR&D projects are abandoned, they are impaired and expensed to research and development. Acquisition-related intangible assets with finite lives consist of know-how and developed technologies. These assets are amortized on a straight-line basis over the estimated useful lives of three five Impairment of Long-Lived Assets The Company evaluates its long-lived assets other than goodwill for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not The Company tests goodwill for impairment at least annually in the fourth may first not not two first second No impairment of goodwill has been identified in any of the periods presented. Other Long-Term Assets Other assets primarily consist of investments related to the employee deferred compensation plan, intangible assets for the land use rights in Cheng du, China, and certain prepaid expenses. The Company amortizes the land use rights over 50 Deferred Compensation Plan The Company has a non-qualified, unfunded deferred compensation plan, which provides certain key employees, including executive management, with the ability to defer the receipt of compensation in order to accumulate funds for retirement on a tax deferred basis. The Company does not The liabilities for compensation deferred under the plan are recorded at fair value in each reporting period. Changes in the fair value of the liabilities are included in operating expense in the Consolidated Statements of Operations. The Company manages the risk of changes in the fair value of the liabilities by electing to match the liabilities with investments in corporate-owned life insurance policies and mutual funds that offset a substantial portion of the exposure. The investments are recorded at the cash surrender value of the corporate-owned life insurance policies and at the fair value of the mutual funds, which are classified as trading securities. Changes in the cash surrender value of the corporate-owned life insurance policies and the fair value of mutual fund investments are included in interest and other income, net in the Consolidated Statements of Operations. The following table summarizes the deferred compensation plan balances in the Consolidated Balance Sheets (in thousands): December 31, 2017 2016 Deferred compensation plan asset components: Cash surrender value of corporate-owned life insurance policies $ 11,455 $ 8,180 Fair value of mutual funds 16,625 12,108 Total $ 28,080 $ 20,288 Deferred compensation plan assets reported in: Other long-term assets $ 28,080 $ 20,288 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 356 $ 479 Other long-term liabilities 28,087 19,836 Total $ 28,443 $ 20,315 Warranty Reserves The Company generally provides a one two no not ’s consolidated financial statements. Revenue Recognition The Company ’s revenue consists primarily of product sales of assembled and tested integrated circuits and dies in wafer form to the consumer, computing and storage, industrial, automotive and communications markets. The remaining revenue has not third T he Company recognizes revenue based on the following four 1 2 3 4 3 4 For each of the years ended December 31, 2017, 2016 2015, 88% third ( 1 The price is fixed or determinable at the date of sale. The Company does not Company’s normal payment terms are 30 45 the Company recognizes revenue upon shipment or delivery. ( 2 The distributors are obligated to pay the Company and this obligation is not ’s products. ( 3 The distributors ’ obligation is unchanged in the event of theft or physical destruction or damage to the products. ( 4 The distributors has stand-alone economic substance apart from the Company’s relationship. ( 5 The Company does not ( 6 Th e amount of future returns can be reasonably estimated. Certain of the C ompany’s large distributors have contracts that included limited stock rotation rights that permit the return of a small percentage of the previous six December 31, 2017 2016, $2.6 $1.9 If the Company enters into arrangements with distributors that have price adjustment or other rights that are not no December 31, 2017 2016, $1.9 $3.7 $0.2 $0.3 On January 1, 2018, ds Update (“ASU”) No. 2014 09, Revenue from Contracts with Customers (Topic 606 ) three Not December 31, 2017” Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. Compensation expense related to awards with service conditions is recorded on a straight-line basis over the requisite service period. Compensation expense related to awa rds subject to market or performance conditions is recognized over the requisite service period for each separately vesting tranche. For awards with only market conditions, compensation expense is not not not Prior to January 1, 2017, Company recognized stock-based compensation expense less an estimate for forfeitures. Upon the adoption of ASU No. 2016 09, Compensation—Stock Compensation (Topic 718 , January 1, 2017, Research and Development Costs incurred in research and devel opment are expensed as incurred. Accounting for Income Taxes The Company recognizes federal, state and foreign current tax liabilities or assets based on its estimate of taxes payable or refundable in the current fiscal year by tax jurisdiction. The Company also recognizes federal, state and foreign deferred tax assets or liabilities for its estimate of future tax effects attributable to temporary differences and carryforwards. The Company records a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not The Company ’s calculation of current and deferred tax assets and liabilities is based on certain estimates and judgments and involves dealing with uncertainties in the application of complex tax laws. The Company’s estimates of current and deferred tax assets and liabilities may 50% may On December 22, 2017, the tax legislation commonly known as the Tax Cuts and Jobs Act (the “2017 2017 : 1 January 1, 2018; ( 2 one 3 4 Income tax effects resulting from changes in tax laws are accounted for by the Company in the period in which the law is enacted. See Note 12 Litigation and Contingencies The Company is a party to actions and proceedings in the ordinary course of business, including potential litigation regarding its shareholders and its intellectual property, challenges to the enforceability or validity of its intellectual property, claims that the Company ’s products infringe on the intellectual property rights of others, and employment matters. The pending proceedings involve complex questions of fact and law and will require the expenditure of significant funds and the diversion of other resources to prosecute and defend. In addition, from time to time, the Company becomes aware that it is subject to other contingent liabilities. When this occurs, the Company will evaluate the appropriate accounting for the potential contingent liabilities to determine whether a contingent liability should be recorded. In making this determination, management may, may not Litigation expense (benefit), net in the Consolidated Statements of Operations includes primarily patent infringement litigation and other business matters. The Company records litigation costs in the period in which they are incurred. Proceeds resulting from settlement of litigation or favorable judgments are recorded as a reduction against litigation expense. Net Income p er Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if outstanding securities or other contracts to issue common stock were exercise d or converted into common shares, and calculated using the treasury stock method. Contingently issuable shares, including equity awards with performance conditions or market conditions, are considered outstanding common shares and included in the basic net income per share as of the date that all necessary conditions to earn the awards have been satisfied. Prior to the end of the contingency period, the number of contingently issuable shares included in the diluted net income per share is based on the number of shares, if any, that would be issuable under the terms of the arrangement at the end of the reporting period. The Company ’s outstanding RSUs contain forfeitable rights to receive cash dividend equivalents, which are accumulated and paid to the employees when the underlying RSUs vest. Dividend equivalents accumulated on the underlying RSUs are forfeited if the employees do not not not Comprehensive Income Comprehensive income represents the change in the Company ’s net assets during the period from non-owner sources. Accumulated other comprehensive income (loss) presented in the Consolidated Balance Sheets primarily consists of unrealized gains or losses related to available-for-sale investments and foreign currency translation adjustments. Recently Adopted Accounting Pronouncement Stock-Based Compensation: In March 2016, No. 2016 09, Compensation—Stock Compensation (Topic 718 January 1, 2017 ● The Company elected to account for forfeitures of equity awards when they occur. The change was applied on a retrospective basis and the Company recorded a cumulative-effect adjustment of $5.1 on January 1, 2017, ● Excess tax benefits are recognized in the income tax provision in the Consolidated Statements of Operations prospectively, rather than in additional paid-in capital in the Consolidated Balance Sheets. The Company applied the modified retrospective method and there was no January 1, 2017, ● The Company is presenting excess tax benefits as an operating activity in the Consolidated Statements of Cash Flows on Recent Accounting Pronouncements Not Yet Adopted as of December 31, 2017 Revenue Recognition: In May 2014, FASB issued ASU No. 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 not first 2018, $0.8 606, Under Topic 606 , the Company’s product sales consist of a single performance obligation that is satisfied at a point in time. The Company recognizes product revenue from distributors and other customers when the products are shipped or delivered to the customers (based on the terms of the firm purchase orders and sales agreements), primarily because (a) the Company has transferred physical possession of the products, (b) the Company has a present right to payment, (c) the customers have legal title to the products, and (d) the customers bear significant risks and rewards of ownership of the products. T he primary change for the Company under Topic 606 three 606, December 31, 2017, $1.9 $0.2 606, January 1, 2018, Revenue from other U.S. and non-U.S. distributors, which make up the majority of the Company ’s total sales to distributors, was already recognized at the time of shipment or delivery to the distributors prior to the adoption of Topic 606 not 606. Other : In February 2016, No. 2016 02, Leases (Topic 842 12 In addition, the standard applies to leases embedded in service arrangements. The standard requires modified retrospective adoption and will be effective for annual reporting periods beginning after December 15, 2018, In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, December 15, 2018. In January 2017, No. 2017 04, Intangibles – Goodwill and Other (Topic 350 two not December 15, 2019. |
Note 2 - Acquisition
Note 2 - Acquisition | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. On July 22, 2014 ( 100% f $14.2 $11.7 $2.5 The contingent consideration arrangement required the Company to pay up to an additional $8.9 2016. $2.5 revenue outcomes. The fair value of the contingent consideration was initially recorded in other long-term liabilities in the Consolidated Balance Sheets and was remeasured at the end of each reporting period, with any changes in fair value recorded in operating expense in the Consolidated Statements of Operations. As part of the quarterly assessment in the fourth 2015, 2016 not $0 December 31, 2015. $2.5 December 31, 2015. On December 31, 2016, at the conclusion of the performance period, management affirmed that no 2016 not |
Note 3 - Cash, Cash Equivalents
Note 3 - Cash, Cash Equivalents and Investments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | 3 . CASH, CASH EQUIVALENTS AND INVESTMENTS The following is a summary of the Company ’s cash, cash equivalents and short-term and long-term investments (in thousands): December 31, 2017 2016 Cash, cash equivalents and investments: Cash $ 75,125 $ 87,747 Money market funds 7,134 24,956 Corporate debt securities 203,807 109,644 U.S. treasuries and government agency bonds 13,024 45,877 Auction-rate securities backed by student-loan notes 5,256 5,354 Total $ 304,346 $ 273,578 December 31, 2017 2016 Reported as: Cash and cash equivalents $ 82,759 $ 112,703 Short-term investments 216,331 155,521 Long-term investments 5,256 5,354 Total $ 304,346 $ 273,578 The contractual maturities of the Company ’s short-term and long-term available-for-sale investments are as follows (in thousands): December 31, 2017 2016 Due in less than 1 year $ 89,399 $ 47,568 Due in 1 - 5 years 126,932 107,953 Due in greater than 5 years 5,256 5,354 Total $ 221,587 $ 160,875 The following tables summarize the unrealized gain and loss positions related to the Company’s available-for sale investments (in thousands): December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 7,134 $ - $ - $ 7,134 $ - Corporate debt securities 204,789 17 (999 ) 203,807 197,564 U.S. treasuries and government agency bonds 13,092 - (68 ) 13,024 13,024 Auction-rate securities backed by student-loan notes 5,570 - (314 ) 5,256 5,256 Total $ 230,585 $ 17 $ (1,381 ) $ 229,221 $ 215,844 December 31, 2016 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 24,956 $ - $ - $ 24,956 $ - Corporate debt securities 110,429 65 (850 ) 109,644 91,938 U.S. treasuries and government agency bonds 45,899 - (22 ) 45,877 39,275 Auction-rate securities backed by student-loan notes 5,570 - (216 ) 5,354 5,354 Total $ 186,854 $ 65 $ (1,088 ) $ 185,831 $ 136,567 There were no December 31, 2017, 2016 2015. 3 0 December 31, 2017 2016, $0.3 $0.2 ● Management possesses both the intent and ability to hold these securities for a period of time sufficient to allow for any anticipated recovery in fair value; ● Management believes that it is more likely than not not ● Except for the credit loss of $70,000 December 31, 2009, not ● The majority of the securities remain AAA, AA+ or Aaa rated; ● All scheduled interest payments have been made pursuant to the reset terms and conditions; and ● All redemptions of these securities to date, representing 87% |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4 . FAIR VALUE MEASUREMENT The following table details the fair value measurement of the financial assets (in thousands): Fair Value Measurement at December 31, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 7,134 $ 7,134 $ - $ - Corporate debt securities 203,807 - 203,807 - U.S. treasuries and government agency bonds 13,024 - 13,024 - Auction-rate securities backed by student-loan notes 5,256 - - 5,256 Mutual funds under deferred compensation plan 16,625 16,625 - - Total $ 245,846 $ 23,759 $ 216,831 $ 5,256 Fair Value Measurement at December 31, 2016 Total Level 1 Level 2 Level 3 Money market funds $ 24,956 $ 24,956 $ - $ - Corporate debt securities 109,644 - 109,644 - U.S. treasuries and government agency bonds 45,877 - 45,877 - Auction-rate securities backed by student-loan notes 5,354 - - 5,354 Mutual funds under deferred compensation plan 12,108 12,108 - - Total $ 197,939 $ 37,064 $ 155,521 $ 5,354 _________________ ● Level 1 —includes instruments with quoted prices in active markets for identical assets. ● Level 2 —includes instruments for which the valuations are based upon quoted market prices in active markets involving assets or inputs other than quoted prices that are observable for the assets. The market inputs used to value these generally consist of market yields, recently executed transactions, broker/dealer quotes or alternative pricing sources reasonable levels of price transparency. Pricing sources may large financial institutions, and other third ● Level 3 —includes instruments for which the valuations are based on inputs that are unobservable and significant to the overall The Company ’s level 3 2008. Balance at January 1, 2016 $ 5,361 Change in unrealized loss included in other comprehensive loss (7 ) Balance at December 31, 2016 5,354 Change in unrealized loss included in other comprehensive income (98 ) Balance at December 31, 2017 $ 5,256 The Company determined the fair value of the auction-rate securities using a discounted cash flow model with the following assumptions: December 31, 2017 2016 Time-to-liquidity (years) 2 - 3 2 Discount rate 4.5% - 9.6% 4.3% - 9.3% |
Note 5 - Balance Sheet Componen
Note 5 - Balance Sheet Components | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 5 . BALANCE SHEET COMPONENTS Inventories Inventories consist of the following (in thousands): December 31, 2017 2016 Raw materials $ 20,573 $ 14,599 Work in process 40,030 26,048 Finished goods 38,678 30,822 Total $ 99,281 $ 71,469 Other Current Assets Other current assets consist of the following (in thousands): December 31, 2017 2016 Prepaid wafer purchase $ 6,217 $ 5,000 Other prepaid expense 2,742 2,249 Interest receivable 1,352 966 Value-added tax receivable 1,235 263 Other 1,216 565 Total $ 12,762 $ 9,043 Prope rty and Equipment, N et Property and equipment , net, consist of the following (in thousands): December 31, 2017 2016 Production equipment and software $ 110,971 $ 95,565 Buildings and improvements 100,990 48,964 Transportation equipment 11,443 11,291 Land 16,883 8,285 Furniture and fixtures 3,641 3,518 Leasehold improvements 3,321 2,838 Property and equipment, gross 247,249 170,461 Less: accumulated depreciation and amortization (102,613 ) (85,290 ) Total $ 144,636 $ 85,171 Depreciatio n and amortization expense was $14.0 $12.6 $12.0 December 31, 2017, 2016 2015, Other Long-Term Assets Other long-term assets consist of the following (in thousands): December 31, 2017 2016 Deferred compensation plan assets $ 28,080 $ 20,288 Prepaid wafer purchase - 5,000 Other prepaid expense 897 1,117 Other 1,091 1,006 Total $ 30,068 $ 27,411 Accrued Liabilities Accrued liabilities consist of the following (in thousands): December 31, 2017 2016 Dividends and dividend equivalents $ 9,248 $ 8,946 Customer prepayments 4,742 3,246 Income tax payable 2,861 1,239 Stock rotation reserve 2,647 1,937 Warranty 2,416 1,030 Deferred income 1,845 3,553 Sales rebate 1,036 441 Commissions 938 1,008 Other 1,774 1,516 Total $ 27,507 $ 22,916 Other Long-Term Liabilities Other long-term liabilities consist of the following (in thousands): December 31, 2017 2016 Deferred compensation plan liabilities $ 28,087 $ 19,836 Dividend equivalents 4,881 3,294 Other 56 89 Total $ 33,024 $ 23,219 |
Note 6 - Goodwill and Acquisiti
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6 . GOODWILL AND ACQUISITION-REL A TED INTANGIBLE ASSETS, NET There have be en no December 31, 2017 2016. not December 31, 2017, 2016 2015. Acquisition-related intangible assets consist of the following (in thousands): December 31, 2017 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (704 ) $ 314 Developed technologies 6,466 (5,829 ) 637 Total $ 7,484 $ (6,533 ) $ 951 December 31, 2016 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (500 ) $ 518 Developed technologies 6,466 (3,982 ) 2,484 Total $ 7,484 $ (4,482 ) $ 3,002 Amortization expense is recorded in cost of revenue in the Consolidated Statement s of Operations and totaled $2.1 $2.1 $1.8 December 31, 2017, 2016 2015, The estimated future amortization expense as of December 31, 2017 2018 $ 841 2019 110 Total $ 951 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 7 . STOCK-BASED COMPENSATION 2004 “2004 The Board of Directors adopted the 2004 March 2004, November 2004. 2004 5% first 2.4 2004 November 12, 2014, no 2004 November 12, 2014, 2.9 2004 2014 “2014 The Board of Directors adopted the 2014 April 2013, approved it in June 2013. October 2014, 2014 2014 November 13, 2014 5.5 2014 November 13, 2024. December 31, 2017, 3.2 2014 Stock-Based Compensation Expense The Company recognized s tock-based compensation expense as follows (in thousands): Year Ended December 31, 2017 2016 2015 Cost of revenue $ 1,654 $ 1,575 $ 1,166 Research and development 14,816 14,041 11,156 Selling, general and administrative 36,147 29,373 29,241 Total stock-based compensation expense $ 52,617 $ 44,989 $ 41,563 Tax benefit related to stock-based compensation $ 5,054 $ - $ - In the first 2016, ’s then Chief Financial Officer retired. As the service or performance conditions for her outstanding restricted stock units (“RSUs”) had not $2.9 December 31, 2016. RSUs The Company’s RSUs include time-based RSUs, RSUs with only performance conditions (“PSUs”), RSUs with both market and performance conditions (“MPSUs”), and RSUs with only market conditions (“MSUs”). Vesting of all awards requires continued service for the Company. In addition, vesting of awards with performance conditions or market conditions is subject to the achievement of pre-determined performance goals. A summary of RSU activity is presented in the table below (in thousands, except per-share amounts): Time-Based RSUs Weighted- Average Grant Date Fair Value Per Share PSUs and MPSUs Weighted-Average Grant Date Fair Value Per Share MSUs Weighted- Average Grant Date Fair Value Per Share Total Weighted- Average Grant Date Fair Value Per Share Outstanding at January 1, 2015 589 $ 28.48 1,659 $ 28.11 1,800 $ 23.57 4,048 $ 26.14 Granted 271 $ 49.82 927 (1) $ 47.61 - $ - 1,198 $ 48.11 Released (319 ) $ 26.56 (629 ) $ 23.40 - $ - (948 ) $ 24.47 Forfeited (42 ) $ 35.60 (24 ) $ 28.68 - $ - (66 ) $ 33.06 Outstanding at December 31, 2015 499 $ 40.75 1,933 $ 38.99 1,800 $ 23.57 4,232 $ 32.64 Granted 133 $ 63.00 1,216 (1) $ 41.12 - $ - 1,349 $ 43.28 Released (239 ) $ 36.43 (736 ) $ 29.71 - $ - (975 ) $ 31.36 Forfeited (27 ) $ 45.35 (129 ) $ 36.82 (180 ) $ 23.57 (336 ) $ 30.38 Outstanding at December 31, 2016 366 $ 51.35 2,284 $ 43.24 1,620 $ 23.57 4,270 $ 36.47 Granted 81 $ 94.25 585 (1) $ 62.72 - $ - 666 $ 66.56 Released (175 ) $ 48.35 (597 ) $ 41.94 - $ - (772 ) $ 43.39 Forfeited (14 ) $ 61.80 (6 ) $ 49.82 - $ - (20 ) $ 58.46 Outstanding at December 31, 2017 258 $ 66.30 2,266 $ 48.59 1,620 $ 23.57 4,144 $ 39.91 _________________ ( 1 Amount reflects the number of PSUs and MPSUs that may The intrinsic value related to RSUs released was $74.0 $62.9 $49.2 December 31, 2017, 2016 2015, December 31, 2017, $430.6 $112.36. December 31, 2017, $75.9 three Time-Based RSUs: For the years ended Decemb er 31, 2017, 2016 2015, 81,000, 133,000 271,000 three four one 2017 In February 2017, 200,000 PSUs to the executive officers, which represent a target number of shares to be awarded based on the Company’s average two 2017 2018 two “2017 300% 2017 50% 2017 first 2019 2017 two 2017 $36.3 In February 2017, 48,000 PSUs to certain non-executive employees, which represent a target number of shares to be awarded based on the Company’s 2018 two 2017 2018 two “2017 200% 300% 2017 50% 2017 first 2019 2017 two 2017 $7.1 The 2017 2017 $30 Shares that do not not 2017 2017 $89.37, 2.6 28.6% 1.3%. 2016 In February 2016, 285,000 PSUs to the executive officers, which represented a target number of shares to be awarded based on the Company’s average two 2016 2017 two “2016 300% 2016 50% 2016 first 2018 2016 two July 2016, 12,000 2016 In February 2018, 2016 ecutive PSUs and a total of 651,000 2016 $26.1 In February 2016, 64,000 PSUs to certain non-executive employees, which represented a target number of shares to be awarded based on the Company’s 2017 two 2016 2017 two “2016 200% 300% 2016 50% 2016 first 2018 2016 two In February 2018, 2016 cutive PSUs and a total of 128,000 2016 $5.1 The 2016 2016 $20 Shares that do not not 2016 2016 February 2016 $58.98, 2.6 31.1% 0.9%. 2016 July 2016, $70.98, 2.3 29.6% 0.7%. 2015 In February 2015, 172,000 ’s average two 2015 2016 two “2015 300% 2015 February 2017, 2015 432,000 50% 2015 first 2017. 2015 two 2015 $21.0 In February 2015, 58,000 ’s 2016 two 2015 2016 two “2015 200% 300% 2015 February 2017, 2015 118,000 50% 2015 first 2017. 2015 two 2015 $5.7 2015 P SUs: On December 31, 2015, granted 86,000 41,000 “2015 500% 2015 2015 four December 31, 2019. first five $71.36 $95.57 January 1, 2016 December 31, 2019. September 30, 2017, five first The second, third fourth five 1 20 ore the start of the performance period for that tranche, or ( 2 second $89.56 $106.81 January 1, 2017 December 31, 2019. December 31, 2017, five second third $120.80 $135.48 January 1, 2018 December 31, 2019. fourth December 31, 2018 January 1, 2019 December 31, 2019. In addition, each of the second, third fourth one six 1. Successful implementation of full digital solut ions for certain power products. 2. Successful implementation, and adoption by a key customer, of an integrated , software-based field-oriented control sensors to motor drivers. 3. Successful implementation of certain advanced power analog processes. 4. Successful design wins and achievement of a specific level of revenue with a global networking customer. 5. Achievement of a specific level of revenue with a global electronics manufacturer. 6. Achievement of a specific level of market share with certain core power products. As of December 31, 2017, none been achieved. Subject to the employees ’ continued employment with the Company, the 2015 January 1, 2020 2015 two The Company determined the grant date fair value of the 2015 $61.35, 33.2%, 1.3%, 7.8% Assuming the achievement of all of the required market and performance goals, the total stock-based compensation cost for the 2015 $24.6 $8.3 first $4.5 second $5.2 third $6.6 fourth For the first being recognized over the requisite service period. For the second, third fourth December 31, 2017, three six third fourth 2014 In February 2014, 252,000 ’s average two 2014 2015 two “2014 300% 2014 February 2016, 2014 694,000 50% 2014 first 2016. 2014 two 2014 $20.7 In April 2014, 61,000 ’s 2015 two 2014 2015 two “2014 200% 300% 2014 February 2016, 2014 103,000 50% 2014 second 2016. 2014 two 2014 $3.7 In connection with the acquisition of Sensima in July 2014, $2.0 SUs (or 47,000 four $8.0 July 2019. 50% two four December 31, 2017, $2.0 first not not December 31, 2017. 2013 In February 2013, 220,000 2014 “2013 300% 2013 February 2015, 2013 622,000 50% 2013 first 2015 two ’ continued employment with the Company. Based on the actual achievement of the performance goals, the total stock-based compensation cost for the 2013 $15.0 In February 2013, 91,000 2014 “2013 200% 300% 2013 February 2015, 2013 154,000 50% 2013 first 2015 two ’ continued employment with the Company. Based on the actual achievement of the performance goals, the total stock-based compensation cost for the 2013 $3.0 2013 In December 2013, granted 276,000 84,000 five $40.00 $56.00 five January 1, 2014 December 31, 2018 ( “2013 500% 2013 December 31, 2015, five 1.8 2013 January 1, 2019 December 31, 2023. The Company determined the grant date fair value of the 2013 $31.73, 38.7% k-free interest rate of 1.6%. 2013 $38.2 Stock Options No December 31, 2017, 2016 2015. is presented in the table below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2015 590 $ 15.80 1.2 $ 20,039 Exercised (498 ) $ 15.55 Forfeited and expired (2 ) $ 6.10 Outstanding at December 31, 2015 90 $ 17.50 1.3 $ 4,134 Exercised (76 ) $ 17.80 Outstanding at December 31, 2016 14 $ 15.88 1.0 $ 921 Exercised (9 ) $ 16.79 Outstanding at December 31, 2017 5 $ 13.89 0.4 $ 465 Exercisable at December 31, 2017 5 $ 13.89 0.4 $ 465 Total intrinsic value of options exercised was $0.7 $3.7 $18.6 December 31, 2017, 2016 2015, $0.1 $1.3 $7.7 December 31, 2017, 2016 2015, December 31, 2017, no 2004 Employee Stock Purchase Plan (“ESPP”) Under the ESPP, eligible employees may may not 2,000 six $25,000 The ESPP provides for an annual increase by an amount equal to the least of 1.0 2% first December 31, 2017, 4.6 November 2024. For the years ended December 31, 2017, 2016 2015, 40,000, 53,000 56,000 $1.0 $1.0 $0.6 December 31, 2017, 2016 2015, December 31, 2017 $92,000, first 2018. Year Ended December 31, 2017 2016 2015 Expected term (years) 0.5 0.5 0.5 Expected volatility 23.5 % 28.6 % 30.3 % Risk-free interest rate 0.9 % 0.4 % 0.2 % Dividend yield 0.9 % 1.2 % 1.4 % Cash proceeds from the shares issued under the ESPP were $2.7 $2.5 $2.2 December 31, 2017, 2016 2015, |
Note 8 - Stock Repurchase
Note 8 - Stock Repurchase | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Common Stock Repurchases [Text Block] | 8 . STOCK REPURCHASE PROGRAM S In July 2013, “2013 $100 June 30, 2015. April 2015, 2013 December 31, 2015. 2013 December 31, 2015 $5.9 2013 In February 2016, “2016 $50 December 31, 2016. December 2016, 2016 December 31, 2017. 2016 December 31, 2017 $50 For the year ended December 31, 2015, 0.6 $32.3 $50.05 under the 2013 No December 31, 2017 2016. |
Note 9 - Dividends and Dividend
Note 9 - Dividends and Dividend Equivalents | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Dividends And Dividend Equivalents [Text Block] | 9 . DIVIDENDS AND DIVIDEND EQUIVALENTS Cash Dividend Program In June 2014, pursuant to which the Company intends to pay quarterly cash dividends on its common stock. Based on the Company’s historical practice, stockholders of record as of the last business day of the quarter are entitled to receive the quarterly cash dividends when and if declared by the Board of Directors, which are payable to the stockholders in the following month. The Board of Directors declared the following cash dividends (in thousands, except per-share amounts): Year Ended December 31, 2017 2016 2015 Dividend declared per share $ 0.80 $ 0.80 $ 0.80 Total amount $ 33,145 $ 32,434 $ 31,618 As of D ecember 31, 2017 2016, $8.3 $8.2 The declaration of any future cash dividends is at the discretion of the Board of Directors and will depend on, among other things, the Company ’s financial condition, results of operations, capital requirements, business conditions, statutory requirements of Delaware law, compliance with the terms of future indebtedness and credit facilities and other factors that the Board of Directors may The Company anticipates that cash used for future dividend payments will come from its current domestic cash and cash generated from ongoing U.S. operations. In addition, the Company currently plans to repatriate cash from its Bermuda subsidiary to fund future dividends and continue to indefinitely reinvest its earnings from other foreign subsidiaries. See Note 12 Cash Dividend Equivalent Rights Under the Company ’s stock plans, outstanding RSUs contain rights to receive cash dividend equivalents, which entitle employees who hold RSUs to the same dividend value per share as holders of common stock. The dividend equivalents are accumulated and paid to the employees when the underlying RSUs vest. Dividend equivalents accumulated on the underlying RSUs are forfeited if the employees do not not December 31, 2017 2016, $5.8 $4.1 |
Note 10 - Interest and Other In
Note 10 - Interest and Other Income, Net | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | 10 . INTEREST AND OTHER INCOME, NET The components of interest and other income, net are as follows (in thousands): Year Ended December 31, 2017 2016 2015 Interest income $ 5,353 $ 2,488 $ 1,608 Amortization of premium on available-for-sale investments (1,976 ) (1,019 ) (463 ) Gain (loss) on deferred compensation plan investments 2,531 1,257 (375 ) Foreign currency exchange gain (loss) (550 ) 65 608 Other 162 26 43 Total $ 5,520 $ 2,817 $ 1,421 |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 1 1 . NET INCOME PER SHARE The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts): Year Ended December 31, 2017 2016 2015 Numerator: Net income $ 65,203 $ 52,720 $ 35,172 Denominator: Weighted-average outstanding shares used to compute basic net income per share 41,350 40,436 39,470 Effect of dilutive securities 2,228 1,479 1,399 Weighted-average outstanding shares used to compute diluted net income per share 43,578 41,915 40,869 Net income per share: Basic $ 1.58 $ 1.30 $ 0.89 Diluted $ 1.50 $ 1.26 $ 0.86 A nti-dilutive common stock equivalents were not |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 2 . INCOME TAXES The components of income before income taxes are as follows (in thousands): Year Ended December 31, 2017 2016 2015 United States $ (19,115 ) $ (14,431 ) $ (247 ) Foreign 102,059 71,695 42,738 Total income before income taxes $ 82,944 $ 57,264 $ 42,491 The components of the income tax provision are as follows (in thousands): Year Ended December 31, 2017 2016 2015 Current: Federal $ 31,025 $ 2,527 $ 6,042 State 2 - 2 Foreign 1,967 2,013 1,213 Deferred: Federal (15,426 ) - - Foreign 173 4 62 Total income tax provision $ 17,741 $ 4,544 $ 7,319 The effective tax rate differs from the applicable U.S. statutory federal income tax rate as follows: Year Ended December 31, 2017 2016 2015 U.S. statutory federal tax rate 35.0 % 34.0 % 34.0 % Settlement with tax authorities - - 6.2 Foreign income at lower rates (41.2 ) (41.1 ) (43.1 ) Impact of the 2017 Tax Act: One-time deemed repatriation transition tax 50.5 - - Remeasurement of deferred taxes 11.8 - - Changes in valuation allowance (36.2 ) 11.0 17.6 Stock-based compensation 2.2 2.2 - Other adjustments (0.7 ) 1.8 2.5 Effective tax rate 21.4 % 7.9 % 17.2 % The components of net deferred tax assets consist of the following (in thousands): December 31, 2017 2016 Deferred tax assets: R&D tax credits $ 10,331 $ 9,817 Stock-based compensation 9,157 7,283 Deferred compensation 5,505 6,752 Depreciation and amortization 191 161 Net operating losses 1,377 - Other expenses not currently deductible 1,924 3,974 Total deferred tax assets 28,485 27,987 Valuation allowance (12,568 ) (27,354 ) Net deferred tax assets $ 15,917 $ 633 2017 Under Accounting Standards Codification (“ASC”) 740, Income Taxes 2017 fourth 2017. On December 22, 2017, No. 118 118" 740 not 2017 118, for matters that have not not 740 2017 As of December 31, 2017, has not 2017 December 31, 2017. 2017 Any subsequent adjustment to these amounts will be recorded to the income tax provision in the period when the analysis is complete. The Company expects to complete the analysis within the one December 21, 2018, 118. Corporate Tax Rate and Re me asurement of Deferred Taxes : The 2017 35% 21%, January 1, 2018. 740 e Company remeasured its deferred tax balance as of December 22, 2017 $9.8 December 31, 2017. Deemed Repatriation Transition Tax: T he 2017 one 1986 15.5% 8% two November 2, 2017 December 31, 2017). two For the year ended December 31, 2017, $41.9 $18.0 $23.9 he 2017 eight $1.9 $22.0 December 31, 2017. Undistributed Earnings of Subsidiaries: The Company previously considered the earnings in its non-U.S. subsidiaries to be indefinitely reinvested and, accordingly, recorded no xes. Prior to the transition tax, the Company had an excess of the amount for financial reporting over the tax basis in its foreign subsidiaries including undistributed foreign earnings of $390.2 $119.7 The Company has analyzed its global working capital and cash requirements, and has determined that it plans to repatriate cash from its Bermuda subsidiary on an ongoing basis to fund its future U.S. based expenditures and dividends. For the other foreign subsidiaries, the Company expects to indefinitely reinvest undistributed earnings to fund foreign operations and their research and development. For those undistributed foreign earnings from which the Company was not not 31, 2017. first no 118 . Global Intangible Low-Taxed Income: The 2017 taxation of its global intangible low-taxed income (“GILTI”), effective January 1, 2018. 10.5% 2018 2025, 13.125% 2025. al Subpart F income recognition for the Company in 2018 Executive Compensation Deductions : The 2017 $1 four 162 fficer. Accordingly, beginning January 1, 2018, $1 Release of Valuation Allowance Management periodically eva luates the realizability of the Company’s deferred tax assets based on all available evidence. The realizability of the Company’s net deferred tax assets is dependent on its ability to generate sufficient future taxable income during periods prior to the expiration of tax attributes to fully utilize these assets. The Company maintained a full valuation allowance on its U.S. deferred tax assets as of the third 2017. fourth 2017, it was more likely than not , due principally to the enactment of the 2017 In accordance with ASC 740, ● The Company forecasts taxable income in the U.S. in future periods. The ● Executive performance-based equity awards are now subject to the Section 162 ● The Company has a history of utilizing all federal tax attributes before expiration. As a result, t he Company released $21.6 fourth 2017. Other Income Tax Provision Matters As of December 31, 2017 , the Company did not December 31, 2017, $19.7 2028. As of December 31, 2017 , the Company had R&D tax credit carryforwards of $0.8 2037, $21.0 Upon adoption of ASU No. 2016 09, Compensation—Stock Compensation (Topic 718 ed Payment Accounting, January 1, 2017, The Company applied the modified retrospective method and there was no January 1, 2017, In the event of a change in ownership, as defined under federal and state tax laws, the Company's net operating loss and tax credit carryforwards could be subject to annual limitations. The annual limitations could result in the expiration of the net operating loss and tax credit carryforwards prior to utilization. On July 27, 2015, Altera Corp. v. Commissioner December 2015, February 2016. not . Due to the uncertainty surrounding the status of the current regulations, questions related to the scope of potential benefits, and the risk of the Tax Court’s decision being overturned upon appeal, the Company has not December 31, 2017. At December 31, 2017, 16.3 $9.1 December 31, 2016, $14.4 $3.5 A reconciliation of the gross unrecognized tax benefits is as follows (in thousands): Balance as of January 1, 2015 $ 16,406 Increase for tax position of current year 1,964 Decrease related to settlement with tax authorities (4,162 ) Decrease due to lapse of statue of limitation (669 ) Decrease for tax position of prior year (1,446 ) Balance as of December 31, 2015 12,093 Increase for tax position of prior year 243 Increase for tax position of current year 2,095 Balance as of December 31, 2016 14,431 Increase for tax position of prior year 169 Increase for tax position of current year 2,360 Decrease due to lapse of statue of limitation (688 ) Balance as of December 31, 2017 $ 16,272 The Company recognizes interest and penalties, if any, related to uncertain tax positions in its income tax provision. As of December 31, 2017 2016, $0.5 $0.3 Uncertain tax positions relate to the allocation of income and deductions among the Company ’s global entities and to the determination of the research and development tax credit. It is reasonably possible that over the next twelve may not The Company currently has reduced tax rates in its subsidiaries in Chengdu and Hangzhou, China for performing research and development activities through 2020 2019, 2018. Income Tax Examinations The Company is subject to examination of its income tax returns by the IRS and other tax authorities. The Company ’s U.S. Federal income tax return for the year ended December 31, 2014 2016. January 2017, no The Company ’s U.S. Federal income tax returns for the years ended December 31, 2005 December 31, 2007 April 2011, January 1, 2004. February 2012, April 2011 $10.5 May 2012. June 2013, 2014 first 2015. 2005 2007 September 30, 2015. The IRS also audited the research and development credits carried forward into year 2005 2005 2007. February 2011, 2005 2007 In April 2015, 2005 2007. one $1.2 one This buy-in payment was final and no $1.0 $0.1 2008 2013 2015. no For the second 2015, one ime net charge of $2.7 $2.7 $1.6 $1.1 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 3 . COMMITMENTS AND CONTINGENCIES Lease Obligations As of December 31, 2017 , future minimum payments under the non-cancelable operating leases were as follows (in thousands): 2018 $ 1,210 2019 636 2020 193 2021 55 2022 51 Total $ 2,145 The Company leases warehouse space, sales and marketing, and research and development offices in China, India, Japan, Korea, the United States and Europe. Certain of the Company ’s facility leases provide for periodic rent increases. Rent expense for the years ended December 31, 2017, 2016 2015 $1.5 $1.7 $1.8 Warranty and Indemnification Provisions The changes in warranty reserves are as follows (in thousands): Year Ended December 31, 2017 2016 2015 Balance at beginning of period $ 1,030 $ 289 $ 240 Warranty provision for product sales 1,912 1,102 333 Settlements made (40 ) (68 ) (158 ) Unused warranty provision (486 ) (293 ) (126 ) Balance at end of period $ 2,416 $ 1,030 $ 289 The Company provides indemnification agreements to certain direct or indirect customers. The Company agrees to reimburse these parties for any damages, costs and expenses incurred by them as a result of legal actions taken against them by third ’s products and technologies. These indemnification provisions are varied in their scope and are subject to certain terms, conditions, limitations and exclusions. In addition, the Company has entered into indemnification agreements with its directors and officers. It is not no no not |
Note 14 - Litigation
Note 14 - Litigation | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 1 4 . L ITIGATION The Company is a party to actions and proceedings in the ordinary course of business, including potential litigation initiated by its shareholders, challenges to the enforceability or validity of its intellectual property, claims that the Company ’s products infringe on the intellectual property rights of others, and employment matters. These proceedings often involve complex questions of fact and law and may December 31, 2017, no |
Note 15 - Employee 401(k) Plan
Note 15 - Employee 401(k) Plan | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 1 5 . EMPLOYEE 401 PLAN The Compa ny sponsors a 401 may not not December 31, 2017, 2016 2015. |
Note 16 - Significant Customers
Note 16 - Significant Customers | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 1 6 . SIGNIFICANT CUSTOMERS The Company sells its products primarily through third those customers with sales equal to or greater than 10% 10% Revenue Accounts Receivable Year Ended December 31, December 31, Customer 2017 2016 2015 2017 2016 A (distributor) 17 % 22 % 24 % 16 % 19 % B (distributor) * * * * 17 % C (distributor) 10 % * * * * D (value-added reseller) * * * 15 % * ________ * Represents less than 10%. The Company ’s agreements with these third may may not |
Note 17 - Segment and Geographi
Note 17 - Segment and Geographic Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 7 . SEGMENT AND GEOGRAHPIC INFORMATION The Company operates in one ’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company derives a majority of its revenue from sales to customers located outside North America, with geographic revenue based on the customers’ ship-to locations. The following is a summary of revenue by geographic regions (in thousands): Year Ended December 31, Country or Region 2017 2016 2015 China $ 257,787 $ 245,169 $ 213,119 Taiwan 83,357 45,414 41,521 Europe 38,140 27,554 22,603 Korea 34,155 27,710 20,519 Southeast Asia 25,755 19,645 18,592 Japan 20,187 14,318 9,727 United States 11,113 8,567 6,732 Other 435 288 254 Total $ 470,929 $ 388,665 $ 333,067 The following is a summary of revenue by major product families (in thousands): Year Ended December 31, Product Family 2017 2016 2015 DC to DC $ 431,861 $ 350,930 $ 299,726 Lighting Control 39,068 37,735 33,341 Total $ 470,929 $ 388,665 $ 333,067 The following is a summary of long-lived assets by geographic regions (in thousands): December 31, Country 2017 2016 2015 China $ 89,472 $ 45,728 $ 40,738 United States 65,618 50,242 40,405 Taiwan 17,238 8,919 126 Bermuda 7,522 9,573 11,624 Other 388 571 431 Total $ 180,238 $ 115,033 $ 93,324 |
Note 18 - Accumulated Other Com
Note 18 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 1 8 . ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in accumulated other comprehensive income (loss) (in thousands): Unrealized Losses on Available-for- Sale Securities Foreign Currency Translation Adjustments Total Balance as of January 1, 2016 $ (375 ) $ 1,841 $ 1,466 Other comprehensive loss before reclassifications (623 ) (5,033 ) (5,656 ) Amounts reclassified from accumulated other comprehensive income (loss) (25 ) - (25 ) Net current period other comprehensive loss (648 ) (5,033 ) (5,681 ) Balance as of December 31, 2016 (1,023 ) (3,192 ) (4,215 ) Other comprehensive income (loss) before reclassifications (343 ) 6,369 6,026 Amounts reclassified from accumulated other comprehensive income (loss) 2 - 2 Net current period other comprehensive income (loss) (341 ) 6,369 6,028 Balance as of December 31, 2017 $ (1,364 ) $ 3,177 $ 1,813 The amount s reclassified from accumulated other comprehensive income (loss) were recorded in interest and other income, net, in the Consolidated Statements of Operations. |
Note 19 - Subsequent Event
Note 19 - Subsequent Event | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. In February 2018, ’s Board of Directors approved an increase in its quarterly cash dividend from $0.20 $0.30 first 2018. |
Note 20 - Quarterly Financial D
Note 20 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 20 . QUARTERLY FINANCIAL DATA (UNAUDITED) Three Months Ended December 31, 2017 September 30, 2017 June 30, 2017 March 31, 2017 (in thousands, except per share amounts) Revenue $ 129,430 $ 128,939 $ 112,198 $ 100,362 Cost of revenue 58,269 58,083 50,773 45,520 Gross profit 71,161 70,856 61,425 54,842 Operating expenses: Research and development 21,730 21,442 20,292 18,894 Selling, general and administrative 24,038 25,255 25,873 22,092 Litigation expense, net 340 327 290 286 Total operating expenses 46,108 47,024 46,455 41,272 Income from operations 25,053 23,832 14,970 13,570 Interest and other income, net 1,647 1,255 1,237 1,381 Income before income taxes 26,700 25,087 16,207 14,951 Income tax provision 14,629 1,445 1,193 474 Net income $ 12,071 $ 23,642 $ 15,014 $ 14,477 Net income per share: Basic $ 0.29 $ 0.57 $ 0.36 $ 0.35 Diluted $ 0.27 $ 0.54 $ 0.35 $ 0.33 Weighted-average shares outstanding: Basic 41,574 41,458 41,323 41,047 Diluted 44,610 43,486 43,397 43,268 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 (in thousands, except per share amounts) Revenue $ 103,618 $ 106,456 $ 94,079 $ 84,512 Cost of revenue 47,107 48,531 43,153 39,002 Gross profit 56,511 57,925 50,926 45,510 Operating expenses: Research and development 17,974 20,472 17,876 17,321 Selling, general and administrative 21,316 22,397 21,531 17,768 Litigation expense (benefit), net (321 ) 55 (8 ) 45 Total operating expenses 38,969 42,924 39,399 35,134 Income from operations 17,542 15,001 11,527 10,376 Interest and other income, net 897 780 597 543 Income before income taxes 18,439 15,781 12,124 10,919 Income tax provision 1,866 1,408 926 344 Net income $ 16,573 $ 14,373 $ 11,198 $ 10,575 Net income per share: Basic $ 0.41 $ 0.35 $ 0.28 $ 0.26 Diluted $ 0.39 $ 0.34 $ 0.27 $ 0.25 Weighted-average shares outstanding: Basic 40,739 40,590 40,387 40,028 Diluted 42,404 41,895 41,716 41,646 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions used in these consolidated financial statements primarily include those related to revenue recognition, inventory valuation, valuation of share-based awards, valuation of goodwill and acquisition-related intangible assets, contingencies and tax valuation allowances. Actual results could differ from those estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Certain Significant Risks and Uncertainties Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. The Company ’s cash consists of checking and savings accounts. The Company’s cash equivalents include short-term, highly liquid investments purchased with remaining maturities at the date of purchase of three not not December 31, 2017 2016. The Company participates in the dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on its future financial position, results of operations or cash flows: advances and trends in new technologies and industry standards; competitive pressures in the form of new products or price reductions on current products; changes in product mix; changes in the overall demand for products offered by the Company; changes in third ’s ability to attract and retain employees necessary to support its growth. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency In general, the functional currency of the Company ’s international subsidiaries is the local currency. The primary subsidiaries are located in China and Taiwan, which utilize the Renminbi and the New Taiwan Dollar as their currencies, respectively. Accordingly, assets and liabilities of the foreign subsidiaries are translated using exchange rates in effect at the end of the period. Revenue and costs are translated using average exchange rates for the period. The resulting translation adjustments are presented as a separate component of accumulated other comprehensive income (loss) in stockholders’ equity in the Consolidated Balance Sheets. In addition, the Company incurs foreign currency exchange gain or loss related to certain intercompany transactions between the U.S. and its foreign subsidiaries that are denominated in a currency other than the functional currency. In connection with the settlement and remeasurement of the balances, the Company recorded foreign currency exchange gain (loss) of $( 0.6 $0.1 $0.6 December 31, 2017, 2016 2015, |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company classifies all highly liquid investments with stated maturities of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instrument s Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three Level 1: Level 2: Level 3: The Company ’s financial instruments include cash and cash equivalents, and short-term and long-term investments. Cash equivalents are stated at cost, which approximates fair market value. The Company’s short-term and long-term investments are classified as available-for-sale securities and are stated at their fair market value. Premiums and discounts are amortized or accreted over the life of the related available-for-sale securities. Interest income is recognized when earned. The Company determines whether an impairment is temporary or other-than temporary. Unrealized gains or losses that are deemed to be temporary are recorded as a component of accumulated other comprehensive income (loss) in stockholders ’ equity in the Consolidated Balance Sheets, and changes in unrealized gains or losses are recorded in the Consolidated Statements of Comprehensive Income. The Company records an impairment charge in interest and other income, net, in the Consolidated Statements of Operations when an available-for-sale investment has experienced a decline in value that is deemed to be other-than-temporary. Other-than-temporary impairment exists when the Company either has the intent to sell the security, it will more likely than not not As of December 31, 2017 2016, ’s holdings in auction-rate securities was $5.3 $5.4 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of standard cost (which approximates actual cost determined on a first first basis) and estimated net realizable value. The Company writes down excess and obsolete inventory based on its age and forecasted demand, which includes estimates taking into consideration the Company’s outlook on market and economic conditions, technology changes, new product introductions and changes in strategic direction. Actual demand may may not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Buildings and building improvements have estimated useful lives of 20 40 Production equipment and software have estimated useful lives of three seven 5 15 three five not |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Acquisition-Related Intangible Assets Goodwill represents the excess of the fair value of purchase consideration over the fair value of net tangible and identified intangible assets as of the date of acquisition. In-process research and development (“IPR&D”) assets represent the fair value of incomplete R&D projects that had not are initially capitalized at fair value as intangible assets with indefinite lives and assessed for impairment at each reporting period. When the IPR&D projects are completed, they are reclassified as amortizable intangible assets and are amortized over their estimated useful lives. Alternatively, if the IPR&D projects are abandoned, they are impaired and expensed to research and development. Acquisition-related intangible assets with finite lives consist of know-how and developed technologies. These assets are amortized on a straight-line basis over the estimated useful lives of three five |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company evaluates its long-lived assets other than goodwill for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not The Company tests goodwill for impairment at least annually in the fourth may first not not two first second No impairment of goodwill has been identified in any of the periods presented. |
Other Assets, Policy [Policy Text Block] | Other Long-Term Assets Other assets primarily consist of investments related to the employee deferred compensation plan, intangible assets for the land use rights in Cheng du, China, and certain prepaid expenses. The Company amortizes the land use rights over 50 |
Deferred Compensation Plan, Policy [Policy Text Block] | Deferred Compensation Plan The Company has a non-qualified, unfunded deferred compensation plan, which provides certain key employees, including executive management, with the ability to defer the receipt of compensation in order to accumulate funds for retirement on a tax deferred basis. The Company does not The liabilities for compensation deferred under the plan are recorded at fair value in each reporting period. Changes in the fair value of the liabilities are included in operating expense in the Consolidated Statements of Operations. The Company manages the risk of changes in the fair value of the liabilities by electing to match the liabilities with investments in corporate-owned life insurance policies and mutual funds that offset a substantial portion of the exposure. The investments are recorded at the cash surrender value of the corporate-owned life insurance policies and at the fair value of the mutual funds, which are classified as trading securities. Changes in the cash surrender value of the corporate-owned life insurance policies and the fair value of mutual fund investments are included in interest and other income, net in the Consolidated Statements of Operations. The following table summarizes the deferred compensation plan balances in the Consolidated Balance Sheets (in thousands): December 31, 2017 2016 Deferred compensation plan asset components: Cash surrender value of corporate-owned life insurance policies $ 11,455 $ 8,180 Fair value of mutual funds 16,625 12,108 Total $ 28,080 $ 20,288 Deferred compensation plan assets reported in: Other long-term assets $ 28,080 $ 20,288 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 356 $ 479 Other long-term liabilities 28,087 19,836 Total $ 28,443 $ 20,315 |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Reserves The Company generally provides a one two no not ’s consolidated financial statements. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company ’s revenue consists primarily of product sales of assembled and tested integrated circuits and dies in wafer form to the consumer, computing and storage, industrial, automotive and communications markets. The remaining revenue has not third T he Company recognizes revenue based on the following four 1 2 3 4 3 4 For each of the years ended December 31, 2017, 2016 2015, 88% third ( 1 The price is fixed or determinable at the date of sale. The Company does not Company’s normal payment terms are 30 45 the Company recognizes revenue upon shipment or delivery. ( 2 The distributors are obligated to pay the Company and this obligation is not ’s products. ( 3 The distributors ’ obligation is unchanged in the event of theft or physical destruction or damage to the products. ( 4 The distributors has stand-alone economic substance apart from the Company’s relationship. ( 5 The Company does not ( 6 Th e amount of future returns can be reasonably estimated. Certain of the C ompany’s large distributors have contracts that included limited stock rotation rights that permit the return of a small percentage of the previous six December 31, 2017 2016, $2.6 $1.9 If the Company enters into arrangements with distributors that have price adjustment or other rights that are not no December 31, 2017 2016, $1.9 $3.7 $0.2 $0.3 On January 1, 2018, ds Update (“ASU”) No. 2014 09, Revenue from Contracts with Customers (Topic 606 ) three Not December 31, 2017” |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. Compensation expense related to awards with service conditions is recorded on a straight-line basis over the requisite service period. Compensation expense related to awa rds subject to market or performance conditions is recognized over the requisite service period for each separately vesting tranche. For awards with only market conditions, compensation expense is not not not Prior to January 1, 2017, Company recognized stock-based compensation expense less an estimate for forfeitures. Upon the adoption of ASU No. 2016 09, Compensation—Stock Compensation (Topic 718 , January 1, 2017, |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs incurred in research and devel opment are expensed as incurred. |
Income Tax, Policy [Policy Text Block] | Accounting for Income Taxes The Company recognizes federal, state and foreign current tax liabilities or assets based on its estimate of taxes payable or refundable in the current fiscal year by tax jurisdiction. The Company also recognizes federal, state and foreign deferred tax assets or liabilities for its estimate of future tax effects attributable to temporary differences and carryforwards. The Company records a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not The Company ’s calculation of current and deferred tax assets and liabilities is based on certain estimates and judgments and involves dealing with uncertainties in the application of complex tax laws. The Company’s estimates of current and deferred tax assets and liabilities may 50% may On December 22, 2017, the tax legislation commonly known as the Tax Cuts and Jobs Act (the “2017 2017 : 1 January 1, 2018; ( 2 one 3 4 Income tax effects resulting from changes in tax laws are accounted for by the Company in the period in which the law is enacted. See Note 12 |
Litigation and Contingencies, Policy [Policy Text Block] | Litigation and Contingencies The Company is a party to actions and proceedings in the ordinary course of business, including potential litigation regarding its shareholders and its intellectual property, challenges to the enforceability or validity of its intellectual property, claims that the Company ’s products infringe on the intellectual property rights of others, and employment matters. The pending proceedings involve complex questions of fact and law and will require the expenditure of significant funds and the diversion of other resources to prosecute and defend. In addition, from time to time, the Company becomes aware that it is subject to other contingent liabilities. When this occurs, the Company will evaluate the appropriate accounting for the potential contingent liabilities to determine whether a contingent liability should be recorded. In making this determination, management may, may not Litigation expense (benefit), net in the Consolidated Statements of Operations includes primarily patent infringement litigation and other business matters. The Company records litigation costs in the period in which they are incurred. Proceeds resulting from settlement of litigation or favorable judgments are recorded as a reduction against litigation expense. |
Earnings Per Share, Policy [Policy Text Block] | Net Income p er Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if outstanding securities or other contracts to issue common stock were exercise d or converted into common shares, and calculated using the treasury stock method. Contingently issuable shares, including equity awards with performance conditions or market conditions, are considered outstanding common shares and included in the basic net income per share as of the date that all necessary conditions to earn the awards have been satisfied. Prior to the end of the contingency period, the number of contingently issuable shares included in the diluted net income per share is based on the number of shares, if any, that would be issuable under the terms of the arrangement at the end of the reporting period. The Company ’s outstanding RSUs contain forfeitable rights to receive cash dividend equivalents, which are accumulated and paid to the employees when the underlying RSUs vest. Dividend equivalents accumulated on the underlying RSUs are forfeited if the employees do not not not |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income represents the change in the Company ’s net assets during the period from non-owner sources. Accumulated other comprehensive income (loss) presented in the Consolidated Balance Sheets primarily consists of unrealized gains or losses related to available-for-sale investments and foreign currency translation adjustments. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncement Stock-Based Compensation: In March 2016, No. 2016 09, Compensation—Stock Compensation (Topic 718 January 1, 2017 ● The Company elected to account for forfeitures of equity awards when they occur. The change was applied on a retrospective basis and the Company recorded a cumulative-effect adjustment of $5.1 on January 1, 2017, ● Excess tax benefits are recognized in the income tax provision in the Consolidated Statements of Operations prospectively, rather than in additional paid-in capital in the Consolidated Balance Sheets. The Company applied the modified retrospective method and there was no January 1, 2017, ● The Company is presenting excess tax benefits as an operating activity in the Consolidated Statements of Cash Flows on Recent Accounting Pronouncements Not Yet Adopted as of December 31, 2017 Revenue Recognition: In May 2014, FASB issued ASU No. 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 not first 2018, $0.8 606, Under Topic 606 , the Company’s product sales consist of a single performance obligation that is satisfied at a point in time. The Company recognizes product revenue from distributors and other customers when the products are shipped or delivered to the customers (based on the terms of the firm purchase orders and sales agreements), primarily because (a) the Company has transferred physical possession of the products, (b) the Company has a present right to payment, (c) the customers have legal title to the products, and (d) the customers bear significant risks and rewards of ownership of the products. T he primary change for the Company under Topic 606 three 606, December 31, 2017, $1.9 $0.2 606, January 1, 2018, Revenue from other U.S. and non-U.S. distributors, which make up the majority of the Company ’s total sales to distributors, was already recognized at the time of shipment or delivery to the distributors prior to the adoption of Topic 606 not 606. Other : In February 2016, No. 2016 02, Leases (Topic 842 12 In addition, the standard applies to leases embedded in service arrangements. The standard requires modified retrospective adoption and will be effective for annual reporting periods beginning after December 15, 2018, In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, December 15, 2018. In January 2017, No. 2017 04, Intangibles – Goodwill and Other (Topic 350 two not December 15, 2019. |
Note 1 - Summary of Significa30
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Deferred Compensation Plan [Table Text Block] | December 31, 2017 2016 Deferred compensation plan asset components: Cash surrender value of corporate-owned life insurance policies $ 11,455 $ 8,180 Fair value of mutual funds 16,625 12,108 Total $ 28,080 $ 20,288 Deferred compensation plan assets reported in: Other long-term assets $ 28,080 $ 20,288 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 356 $ 479 Other long-term liabilities 28,087 19,836 Total $ 28,443 $ 20,315 |
Note 3 - Cash, Cash Equivalen31
Note 3 - Cash, Cash Equivalents and Investments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2017 2016 Cash, cash equivalents and investments: Cash $ 75,125 $ 87,747 Money market funds 7,134 24,956 Corporate debt securities 203,807 109,644 U.S. treasuries and government agency bonds 13,024 45,877 Auction-rate securities backed by student-loan notes 5,256 5,354 Total $ 304,346 $ 273,578 December 31, 2017 2016 Reported as: Cash and cash equivalents $ 82,759 $ 112,703 Short-term investments 216,331 155,521 Long-term investments 5,256 5,354 Total $ 304,346 $ 273,578 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2017 2016 Due in less than 1 year $ 89,399 $ 47,568 Due in 1 - 5 years 126,932 107,953 Due in greater than 5 years 5,256 5,354 Total $ 221,587 $ 160,875 |
Unrealized Gain (Loss) on Investments [Table Text Block] | December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 7,134 $ - $ - $ 7,134 $ - Corporate debt securities 204,789 17 (999 ) 203,807 197,564 U.S. treasuries and government agency bonds 13,092 - (68 ) 13,024 13,024 Auction-rate securities backed by student-loan notes 5,570 - (314 ) 5,256 5,256 Total $ 230,585 $ 17 $ (1,381 ) $ 229,221 $ 215,844 December 31, 2016 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 24,956 $ - $ - $ 24,956 $ - Corporate debt securities 110,429 65 (850 ) 109,644 91,938 U.S. treasuries and government agency bonds 45,899 - (22 ) 45,877 39,275 Auction-rate securities backed by student-loan notes 5,570 - (216 ) 5,354 5,354 Total $ 186,854 $ 65 $ (1,088 ) $ 185,831 $ 136,567 |
Note 4 - Fair Value Measureme32
Note 4 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurement at December 31, 2017 Total Level 1 Level 2 Level 3 Money market funds $ 7,134 $ 7,134 $ - $ - Corporate debt securities 203,807 - 203,807 - U.S. treasuries and government agency bonds 13,024 - 13,024 - Auction-rate securities backed by student-loan notes 5,256 - - 5,256 Mutual funds under deferred compensation plan 16,625 16,625 - - Total $ 245,846 $ 23,759 $ 216,831 $ 5,256 Fair Value Measurement at December 31, 2016 Total Level 1 Level 2 Level 3 Money market funds $ 24,956 $ 24,956 $ - $ - Corporate debt securities 109,644 - 109,644 - U.S. treasuries and government agency bonds 45,877 - 45,877 - Auction-rate securities backed by student-loan notes 5,354 - - 5,354 Mutual funds under deferred compensation plan 12,108 12,108 - - Total $ 197,939 $ 37,064 $ 155,521 $ 5,354 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Balance at January 1, 2016 $ 5,361 Change in unrealized loss included in other comprehensive loss (7 ) Balance at December 31, 2016 5,354 Change in unrealized loss included in other comprehensive income (98 ) Balance at December 31, 2017 $ 5,256 |
Schedule Of Level 3 Assumptions [Table Text Block] | December 31, 2017 2016 Time-to-liquidity (years) 2 - 3 2 Discount rate 4.5% - 9.6% 4.3% - 9.3% |
Note 5 - Balance Sheet Compon33
Note 5 - Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2017 2016 Raw materials $ 20,573 $ 14,599 Work in process 40,030 26,048 Finished goods 38,678 30,822 Total $ 99,281 $ 71,469 |
Schedule of Other Current Assets [Table Text Block] | December 31, 2017 2016 Prepaid wafer purchase $ 6,217 $ 5,000 Other prepaid expense 2,742 2,249 Interest receivable 1,352 966 Value-added tax receivable 1,235 263 Other 1,216 565 Total $ 12,762 $ 9,043 |
Property, Plant and Equipment [Table Text Block] | December 31, 2017 2016 Production equipment and software $ 110,971 $ 95,565 Buildings and improvements 100,990 48,964 Transportation equipment 11,443 11,291 Land 16,883 8,285 Furniture and fixtures 3,641 3,518 Leasehold improvements 3,321 2,838 Property and equipment, gross 247,249 170,461 Less: accumulated depreciation and amortization (102,613 ) (85,290 ) Total $ 144,636 $ 85,171 |
Schedule of Other Assets, Noncurrent [Table Text Block] | December 31, 2017 2016 Deferred compensation plan assets $ 28,080 $ 20,288 Prepaid wafer purchase - 5,000 Other prepaid expense 897 1,117 Other 1,091 1,006 Total $ 30,068 $ 27,411 |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2017 2016 Dividends and dividend equivalents $ 9,248 $ 8,946 Customer prepayments 4,742 3,246 Income tax payable 2,861 1,239 Stock rotation reserve 2,647 1,937 Warranty 2,416 1,030 Deferred income 1,845 3,553 Sales rebate 1,036 441 Commissions 938 1,008 Other 1,774 1,516 Total $ 27,507 $ 22,916 |
Other Noncurrent Liabilities [Table Text Block] | December 31, 2017 2016 Deferred compensation plan liabilities $ 28,087 $ 19,836 Dividend equivalents 4,881 3,294 Other 56 89 Total $ 33,024 $ 23,219 |
Note 6 - Goodwill and Acquisi34
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | December 31, 2017 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (704 ) $ 314 Developed technologies 6,466 (5,829 ) 637 Total $ 7,484 $ (6,533 ) $ 951 December 31, 2016 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (500 ) $ 518 Developed technologies 6,466 (3,982 ) 2,484 Total $ 7,484 $ (4,482 ) $ 3,002 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2018 $ 841 2019 110 Total $ 951 |
Note 7 - Stock-based Compensa35
Note 7 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | Year Ended December 31, 2017 2016 2015 Cost of revenue $ 1,654 $ 1,575 $ 1,166 Research and development 14,816 14,041 11,156 Selling, general and administrative 36,147 29,373 29,241 Total stock-based compensation expense $ 52,617 $ 44,989 $ 41,563 Tax benefit related to stock-based compensation $ 5,054 $ - $ - |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Time-Based RSUs Weighted- Average Grant Date Fair Value Per Share PSUs and MPSUs Weighted-Average Grant Date Fair Value Per Share MSUs Weighted- Average Grant Date Fair Value Per Share Total Weighted- Average Grant Date Fair Value Per Share Outstanding at January 1, 2015 589 $ 28.48 1,659 $ 28.11 1,800 $ 23.57 4,048 $ 26.14 Granted 271 $ 49.82 927 (1) $ 47.61 - $ - 1,198 $ 48.11 Released (319 ) $ 26.56 (629 ) $ 23.40 - $ - (948 ) $ 24.47 Forfeited (42 ) $ 35.60 (24 ) $ 28.68 - $ - (66 ) $ 33.06 Outstanding at December 31, 2015 499 $ 40.75 1,933 $ 38.99 1,800 $ 23.57 4,232 $ 32.64 Granted 133 $ 63.00 1,216 (1) $ 41.12 - $ - 1,349 $ 43.28 Released (239 ) $ 36.43 (736 ) $ 29.71 - $ - (975 ) $ 31.36 Forfeited (27 ) $ 45.35 (129 ) $ 36.82 (180 ) $ 23.57 (336 ) $ 30.38 Outstanding at December 31, 2016 366 $ 51.35 2,284 $ 43.24 1,620 $ 23.57 4,270 $ 36.47 Granted 81 $ 94.25 585 (1) $ 62.72 - $ - 666 $ 66.56 Released (175 ) $ 48.35 (597 ) $ 41.94 - $ - (772 ) $ 43.39 Forfeited (14 ) $ 61.80 (6 ) $ 49.82 - $ - (20 ) $ 58.46 Outstanding at December 31, 2017 258 $ 66.30 2,266 $ 48.59 1,620 $ 23.57 4,144 $ 39.91 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2015 590 $ 15.80 1.2 $ 20,039 Exercised (498 ) $ 15.55 Forfeited and expired (2 ) $ 6.10 Outstanding at December 31, 2015 90 $ 17.50 1.3 $ 4,134 Exercised (76 ) $ 17.80 Outstanding at December 31, 2016 14 $ 15.88 1.0 $ 921 Exercised (9 ) $ 16.79 Outstanding at December 31, 2017 5 $ 13.89 0.4 $ 465 Exercisable at December 31, 2017 5 $ 13.89 0.4 $ 465 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2017 2016 2015 Expected term (years) 0.5 0.5 0.5 Expected volatility 23.5 % 28.6 % 30.3 % Risk-free interest rate 0.9 % 0.4 % 0.2 % Dividend yield 0.9 % 1.2 % 1.4 % |
Note 9 - Dividends and Divide36
Note 9 - Dividends and Dividend Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Dividends Declared [Table Text Block] | Year Ended December 31, 2017 2016 2015 Dividend declared per share $ 0.80 $ 0.80 $ 0.80 Total amount $ 33,145 $ 32,434 $ 31,618 |
Note 10 - Interest and Other 37
Note 10 - Interest and Other Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Year Ended December 31, 2017 2016 2015 Interest income $ 5,353 $ 2,488 $ 1,608 Amortization of premium on available-for-sale investments (1,976 ) (1,019 ) (463 ) Gain (loss) on deferred compensation plan investments 2,531 1,257 (375 ) Foreign currency exchange gain (loss) (550 ) 65 608 Other 162 26 43 Total $ 5,520 $ 2,817 $ 1,421 |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2017 2016 2015 Numerator: Net income $ 65,203 $ 52,720 $ 35,172 Denominator: Weighted-average outstanding shares used to compute basic net income per share 41,350 40,436 39,470 Effect of dilutive securities 2,228 1,479 1,399 Weighted-average outstanding shares used to compute diluted net income per share 43,578 41,915 40,869 Net income per share: Basic $ 1.58 $ 1.30 $ 0.89 Diluted $ 1.50 $ 1.26 $ 0.86 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Year Ended December 31, 2017 2016 2015 United States $ (19,115 ) $ (14,431 ) $ (247 ) Foreign 102,059 71,695 42,738 Total income before income taxes $ 82,944 $ 57,264 $ 42,491 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2017 2016 2015 Current: Federal $ 31,025 $ 2,527 $ 6,042 State 2 - 2 Foreign 1,967 2,013 1,213 Deferred: Federal (15,426 ) - - Foreign 173 4 62 Total income tax provision $ 17,741 $ 4,544 $ 7,319 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2017 2016 2015 U.S. statutory federal tax rate 35.0 % 34.0 % 34.0 % Settlement with tax authorities - - 6.2 Foreign income at lower rates (41.2 ) (41.1 ) (43.1 ) Impact of the 2017 Tax Act: One-time deemed repatriation transition tax 50.5 - - Remeasurement of deferred taxes 11.8 - - Changes in valuation allowance (36.2 ) 11.0 17.6 Stock-based compensation 2.2 2.2 - Other adjustments (0.7 ) 1.8 2.5 Effective tax rate 21.4 % 7.9 % 17.2 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2017 2016 Deferred tax assets: R&D tax credits $ 10,331 $ 9,817 Stock-based compensation 9,157 7,283 Deferred compensation 5,505 6,752 Depreciation and amortization 191 161 Net operating losses 1,377 - Other expenses not currently deductible 1,924 3,974 Total deferred tax assets 28,485 27,987 Valuation allowance (12,568 ) (27,354 ) Net deferred tax assets $ 15,917 $ 633 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Balance as of January 1, 2015 $ 16,406 Increase for tax position of current year 1,964 Decrease related to settlement with tax authorities (4,162 ) Decrease due to lapse of statue of limitation (669 ) Decrease for tax position of prior year (1,446 ) Balance as of December 31, 2015 12,093 Increase for tax position of prior year 243 Increase for tax position of current year 2,095 Balance as of December 31, 2016 14,431 Increase for tax position of prior year 169 Increase for tax position of current year 2,360 Decrease due to lapse of statue of limitation (688 ) Balance as of December 31, 2017 $ 16,272 |
Note 13 - Commitments and Con40
Note 13 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2018 $ 1,210 2019 636 2020 193 2021 55 2022 51 Total $ 2,145 |
Schedule of Product Warranty Liability [Table Text Block] | Year Ended December 31, 2017 2016 2015 Balance at beginning of period $ 1,030 $ 289 $ 240 Warranty provision for product sales 1,912 1,102 333 Settlements made (40 ) (68 ) (158 ) Unused warranty provision (486 ) (293 ) (126 ) Balance at end of period $ 2,416 $ 1,030 $ 289 |
Note 16 - Significant Custome41
Note 16 - Significant Customers (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Revenue Accounts Receivable Year Ended December 31, December 31, Customer 2017 2016 2015 2017 2016 A (distributor) 17 % 22 % 24 % 16 % 19 % B (distributor) * * * * 17 % C (distributor) 10 % * * * * D (value-added reseller) * * * 15 % * |
Note 17 - Segment and Geograp42
Note 17 - Segment and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Year Ended December 31, Country or Region 2017 2016 2015 China $ 257,787 $ 245,169 $ 213,119 Taiwan 83,357 45,414 41,521 Europe 38,140 27,554 22,603 Korea 34,155 27,710 20,519 Southeast Asia 25,755 19,645 18,592 Japan 20,187 14,318 9,727 United States 11,113 8,567 6,732 Other 435 288 254 Total $ 470,929 $ 388,665 $ 333,067 |
Revenue from External Customers by Products and Services [Table Text Block] | Year Ended December 31, Product Family 2017 2016 2015 DC to DC $ 431,861 $ 350,930 $ 299,726 Lighting Control 39,068 37,735 33,341 Total $ 470,929 $ 388,665 $ 333,067 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | December 31, Country 2017 2016 2015 China $ 89,472 $ 45,728 $ 40,738 United States 65,618 50,242 40,405 Taiwan 17,238 8,919 126 Bermuda 7,522 9,573 11,624 Other 388 571 431 Total $ 180,238 $ 115,033 $ 93,324 |
Note 18 - Accumulated Other C43
Note 18 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Losses on Available-for- Sale Securities Foreign Currency Translation Adjustments Total Balance as of January 1, 2016 $ (375 ) $ 1,841 $ 1,466 Other comprehensive loss before reclassifications (623 ) (5,033 ) (5,656 ) Amounts reclassified from accumulated other comprehensive income (loss) (25 ) - (25 ) Net current period other comprehensive loss (648 ) (5,033 ) (5,681 ) Balance as of December 31, 2016 (1,023 ) (3,192 ) (4,215 ) Other comprehensive income (loss) before reclassifications (343 ) 6,369 6,026 Amounts reclassified from accumulated other comprehensive income (loss) 2 - 2 Net current period other comprehensive income (loss) (341 ) 6,369 6,028 Balance as of December 31, 2017 $ (1,364 ) $ 3,177 $ 1,813 |
Note 20 - Quarterly Financial44
Note 20 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Three Months Ended December 31, 2017 September 30, 2017 June 30, 2017 March 31, 2017 (in thousands, except per share amounts) Revenue $ 129,430 $ 128,939 $ 112,198 $ 100,362 Cost of revenue 58,269 58,083 50,773 45,520 Gross profit 71,161 70,856 61,425 54,842 Operating expenses: Research and development 21,730 21,442 20,292 18,894 Selling, general and administrative 24,038 25,255 25,873 22,092 Litigation expense, net 340 327 290 286 Total operating expenses 46,108 47,024 46,455 41,272 Income from operations 25,053 23,832 14,970 13,570 Interest and other income, net 1,647 1,255 1,237 1,381 Income before income taxes 26,700 25,087 16,207 14,951 Income tax provision 14,629 1,445 1,193 474 Net income $ 12,071 $ 23,642 $ 15,014 $ 14,477 Net income per share: Basic $ 0.29 $ 0.57 $ 0.36 $ 0.35 Diluted $ 0.27 $ 0.54 $ 0.35 $ 0.33 Weighted-average shares outstanding: Basic 41,574 41,458 41,323 41,047 Diluted 44,610 43,486 43,397 43,268 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 (in thousands, except per share amounts) Revenue $ 103,618 $ 106,456 $ 94,079 $ 84,512 Cost of revenue 47,107 48,531 43,153 39,002 Gross profit 56,511 57,925 50,926 45,510 Operating expenses: Research and development 17,974 20,472 17,876 17,321 Selling, general and administrative 21,316 22,397 21,531 17,768 Litigation expense (benefit), net (321 ) 55 (8 ) 45 Total operating expenses 38,969 42,924 39,399 35,134 Income from operations 17,542 15,001 11,527 10,376 Interest and other income, net 897 780 597 543 Income before income taxes 18,439 15,781 12,124 10,919 Income tax provision 1,866 1,408 926 344 Net income $ 16,573 $ 14,373 $ 11,198 $ 10,575 Net income per share: Basic $ 0.41 $ 0.35 $ 0.28 $ 0.26 Diluted $ 0.39 $ 0.34 $ 0.27 $ 0.25 Weighted-average shares outstanding: Basic 40,739 40,590 40,387 40,028 Diluted 42,404 41,895 41,716 41,646 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 |
Note 1 - Summary of Significa45
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2018 | Jan. 01, 2017 | |
Allowance for Doubtful Accounts Receivable, Current | $ 0 | $ 0 | |||
Foreign Currency Transaction Gain (Loss), before Tax | (550) | 65 | $ 608 | ||
Available-for-sale Securities | 229,221 | 185,831 | |||
Goodwill, Impairment Loss | 0 | 0 | $ 0 | ||
Stock Rotation Reserve | 2,647 | 1,937 | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | |||||
Retained Earnings [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (5,141) | ||||
Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 5,100 | ||||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | Scenario, Forecast [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 800 | ||||
Distributors with Price Adjustment Rights [Member] | |||||
Deferred Revenue | 1,900 | 3,700 | |||
Deferred Costs, Current | $ 200 | $ 300 | |||
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Distributor Sales [Member] | |||||
Concentration Risk, Percentage | 88.00% | 88.00% | 88.00% | ||
Land Use Rights [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 50 years | ||||
Minimum [Member] | Know-How And Developed Technologies [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||
Maximum [Member] | Know-How And Developed Technologies [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||
Building and Building Improvements [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 20 years | ||||
Building and Building Improvements [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 40 years | ||||
Computer Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Computer Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 7 years | ||||
Transportation Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 5 years | ||||
Transportation Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 15 years | ||||
Furniture and Fixtures [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Furniture and Fixtures [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 5 years | ||||
Auction Rate Securities [Member] | |||||
Available-for-sale Securities | $ 5,300 | $ 5,400 | |||
Interest and Other Income [Member] | |||||
Foreign Currency Transaction Gain (Loss), before Tax | $ (600) | $ 100 | $ 600 |
Note 1 - Summary of Significa46
Note 1 - Summary of Significant Accounting Policies - Summary of Deferred Compensation Plan (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred compensation plan assets | $ 28,080 | $ 20,288 |
Deferred compensation plan liabilities | 28,443 | 20,315 |
Other Long-term Assets [Member] | ||
Deferred compensation plan assets | 28,080 | 20,288 |
Accrued Compensation and Related Benefits [Member] | ||
Deferred compensation plan liabilities | 356 | 479 |
Other Long-term Liabilities [Member] | ||
Deferred compensation plan liabilities | 28,087 | 19,836 |
Cash Surrender Value [Member] | ||
Deferred compensation plan assets | 11,455 | 8,180 |
Mutual Funds, Fair Value [Member] | ||
Deferred compensation plan assets | $ 16,625 | $ 12,108 |
Note 2 - Acquisition (Details T
Note 2 - Acquisition (Details Textual) - USD ($) | Jul. 22, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Business Combination, Consideration Transferred | $ 14,200,000 | |||
Payments to Acquire Businesses, Gross | 11,700,000 | |||
Business Combination, Contingent Consideration, Liability | $ 2,500,000 | |||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (2,507,000) | |||
Sensima [Member] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Business Combination, Contingent Consideration, Liability | $ 2,500,000 | $ 0 | 0 | |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 8,900,000 | |||
Sensima [Member] | Selling, General and Administrative Expenses [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (2,500,000) |
Note 3 - Cash, Cash Equivalen48
Note 3 - Cash, Cash Equivalents and Investments (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2009 | |
Auction Rate Securities Maturities | 30 years | |||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 1,381,000 | $ 1,088,000 | ||
Gain (Loss) on Investments | $ 70,000 | |||
Percentage of Auction Rate Securities Redeemed at Par Value | 87.00% | |||
Auction Rate Securities [Member] | ||||
Redemption Auction Rate Securities | $ 0 | 0 | $ 0 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 300,000 | $ 200,000 |
Note 3 - Cash, Cash Equivalen49
Note 3 - Cash, Cash Equivalents and Investments - Cash Equivalents, Short-term and Long-term Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash | $ 75,125 | $ 87,747 | ||
Money market funds | 7,134 | 24,956 | ||
U.S. treasuries and government agency bonds | 13,024 | 45,877 | ||
Total | 304,346 | 273,578 | ||
Cash and cash equivalents | 82,759 | 112,703 | $ 90,860 | $ 126,266 |
Short-term investments | 216,331 | 155,521 | ||
Long-term investments | 5,256 | 5,354 | ||
Corporate Debt Securities [Member] | ||||
Available-for-sale securities | 203,807 | 109,644 | ||
Auction Rate Securities [Member] | ||||
Available-for-sale securities | $ 5,256 | $ 5,354 |
Note 3 - Cash, Cash Equivalen50
Note 3 - Cash, Cash Equivalents and Investments - Investment Maturity Classification (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Due in less than 1 year | $ 89,399 | $ 47,568 |
Due in 1 - 5 years | 126,932 | 107,953 |
Due in greater than 5 years | 5,256 | 5,354 |
Total | $ 221,587 | $ 160,875 |
Note 3 - Cash, Cash Equivalen51
Note 3 - Cash, Cash Equivalents and Investments - Unrealized Gains and Losses on Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Adjusted Cost | $ 230,585 | $ 186,854 |
Available-for-sale Securities | 229,221 | 185,831 |
Unrealized Gains | 17 | 65 |
Unrealized Losses | (1,381) | (1,088) |
Fair Value of Investments in Unrealized Loss Position | 215,844 | 136,567 |
Money Market Funds [Member] | ||
Adjusted Cost | 7,134 | 24,956 |
Available-for-sale Securities | 7,134 | 24,956 |
Corporate Debt Securities [Member] | ||
Adjusted Cost | 204,789 | 110,429 |
Available-for-sale Securities | 203,807 | 109,644 |
Unrealized Gains | 17 | 65 |
Unrealized Losses | (999) | (850) |
Fair Value of Investments in Unrealized Loss Position | 197,564 | 91,938 |
US Government Agencies Short-term Debt Securities [Member] | ||
Adjusted Cost | 13,092 | 45,899 |
Available-for-sale Securities | 13,024 | 45,877 |
Unrealized Gains | ||
Unrealized Losses | (68) | (22) |
Fair Value of Investments in Unrealized Loss Position | 13,024 | 39,275 |
Auction Rate Securities [Member] | ||
Adjusted Cost | 5,570 | 5,570 |
Available-for-sale Securities | 5,256 | 5,354 |
Unrealized Losses | (314) | (216) |
Fair Value of Investments in Unrealized Loss Position | $ 5,256 | $ 5,354 |
Note 4 - Fair Value Measureme52
Note 4 - Fair Value Measurements - Financial Assets and Liabilities, Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale Securities | $ 229,221 | $ 185,831 |
Total Fair Value | 245,846 | 197,939 |
Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | 23,759 | 37,064 |
Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | 216,831 | 155,521 |
Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | 5,256 | 5,354 |
Money Market Funds [Member] | ||
Available-for-sale Securities | 7,134 | 24,956 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 7,134 | 24,956 |
Corporate Debt Securities [Member] | ||
Available-for-sale Securities | 203,807 | 109,644 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 203,807 | 109,644 |
US Government Agencies Short-term Debt Securities [Member] | ||
Available-for-sale Securities | 13,024 | 45,877 |
US Government Agencies Short-term Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 13,024 | 45,877 |
Auction Rate Securities [Member] | ||
Available-for-sale Securities | 5,256 | 5,354 |
Auction Rate Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 5,256 | 5,354 |
Mutual Fund [Member] | ||
Total Fair Value | 16,625 | 12,108 |
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | $ 16,625 | $ 12,108 |
Note 4 - Fair Value Measureme53
Note 4 - Fair Value Measurements - Level 3 Investments (Details) - Auction Rate Securities [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, auction rate securities | $ 5,354 | $ 5,361 |
Change in unrealized loss included in other comprehensive income (loss) | (98) | (7) |
Balance, auction rate securities | $ 5,256 | $ 5,354 |
Note 4 - Fair Value Measureme54
Note 4 - Fair Value Measurements - Discounted Cash Flow Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Time-to-liquidity (years) (Year) | 2 years | |
Minimum [Member] | ||
Time-to-liquidity (years) (Year) | 2 years | |
Discount rate | 4.50% | 4.30% |
Maximum [Member] | ||
Time-to-liquidity (years) (Year) | 3 years | |
Discount rate | 9.60% | 9.30% |
Note 5 - Balance Sheet Compon55
Note 5 - Balance Sheet Components (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 14 | $ 12.6 | $ 12 |
Note 5 - Balance Sheet Compon56
Note 5 - Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Raw materials | $ 20,573 | $ 14,599 |
Work in process | 40,030 | 26,048 |
Finished goods | 38,678 | 30,822 |
Total | $ 99,281 | $ 71,469 |
Note 5 - Balance Sheet Compon57
Note 5 - Balance Sheet Components - Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Prepaid wafer purchase | $ 6,217 | $ 5,000 |
Other prepaid expense | 2,742 | 2,249 |
Interest receivable | 1,352 | 966 |
Value-added tax receivable | 1,235 | 263 |
Other | 1,216 | 565 |
Total | $ 12,762 | $ 9,043 |
Note 5 - Balance Sheet Compon58
Note 5 - Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property and equipment | $ 247,249 | $ 170,461 |
Less: accumulated depreciation and amortization | (102,613) | (85,290) |
Total | 144,636 | 85,171 |
Production Equipment and Software [Member] | ||
Property and equipment | 110,971 | 95,565 |
Building and Building Improvements [Member] | ||
Property and equipment | 100,990 | 48,964 |
Transportation Equipment [Member] | ||
Property and equipment | 11,443 | 11,291 |
Land [Member] | ||
Property and equipment | 16,883 | 8,285 |
Furniture and Fixtures [Member] | ||
Property and equipment | 3,641 | 3,518 |
Leasehold Improvements [Member] | ||
Property and equipment | $ 3,321 | $ 2,838 |
Note 5 - Balance Sheet Compon59
Note 5 - Balance Sheet Components - Other Long-term Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred compensation plan assets | $ 28,080 | $ 20,288 |
Prepaid wafer purchase | 5,000 | |
Other prepaid expense | 897 | 1,117 |
Other | 1,091 | 1,006 |
Total | $ 30,068 | $ 27,411 |
Note 5 - Balance Sheet Compon60
Note 5 - Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Dividends and dividend equivalents | $ 9,248 | $ 8,946 |
Customer prepayments | 4,742 | 3,246 |
Income tax payable | 2,861 | 1,239 |
Stock rotation reserve | 2,647 | 1,937 |
Warranty | 2,416 | 1,030 |
Deferred income | 1,845 | 3,553 |
Sales rebate | 1,036 | 441 |
Commissions | 938 | 1,008 |
Other | 1,774 | 1,516 |
Total | $ 27,507 | $ 22,916 |
Note 5 - Balance Sheet Compon61
Note 5 - Balance Sheet Components - Long-term Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred compensation plan liabilities | $ 28,087 | $ 19,836 |
Dividend equivalents | 4,881 | 3,294 |
Other | 56 | 89 |
Total | $ 33,024 | $ 23,219 |
Note 6 - Goodwill and Acquisi62
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill, Period Increase (Decrease) | $ 0 | $ 0 | |
Goodwill, Impairment Loss | 0 | 0 | $ 0 |
Cost Of Revenue [Member] | |||
Amortization of Intangible Assets | $ 2,100 | $ 2,100 | $ 1,800 |
Note 6 - Goodwill and Acquisi63
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net - Acquisition-related Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Gross Amount | $ 7,484 | $ 7,484 |
Accumulated Amortization | (6,533) | (4,482) |
Net Amount | 951 | 3,002 |
Know-How [Member] | ||
Gross Amount | 1,018 | 1,018 |
Accumulated Amortization | (704) | (500) |
Net Amount | 314 | 518 |
Developed Technology Rights [Member] | ||
Gross Amount | 6,466 | 6,466 |
Accumulated Amortization | (5,829) | (3,982) |
Net Amount | $ 637 | $ 2,484 |
Note 6 - Goodwill and Acquisi64
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 841 | |
2,019 | 110 | |
Total | $ 951 | $ 3,002 |
Note 7 - Stock-based Compensa65
Note 7 - Stock-based Compensation (Details Textual) | Dec. 31, 2015$ / sharesshares | Nov. 12, 2014shares | Feb. 28, 2018USD ($)shares | Feb. 28, 2017USD ($)$ / sharesshares | Jul. 31, 2016$ / sharesshares | Feb. 29, 2016USD ($)$ / sharesshares | Dec. 31, 2015$ / shares | Feb. 28, 2015USD ($)shares | Jul. 31, 2014USD ($)shares | Apr. 30, 2014shares | Mar. 31, 2014shares | Feb. 28, 2014shares | Dec. 31, 2013$ / sharesshares | Feb. 28, 2013shares | Mar. 31, 2016USD ($) | Sep. 30, 2017 | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / shares | Nov. 13, 2014shares |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 666,000 | 1,349,000 | 1,198,000 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | $ 700,000 | $ 3,700,000 | $ 18,600,000 | ||||||||||||||||||
Proceeds from Stock Options Exercised | $ | 150,000 | 1,344,000 | 7,744,000 | ||||||||||||||||||
Proceeds from Stock Plans | $ | 2,701,000 | 2,463,000 | 2,227,000 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $ | 74,000,000 | $ 62,900,000 | $ 49,200,000 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ | $ 430,600,000 | ||||||||||||||||||||
Share Price | $ / shares | $ 112.36 | ||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 75,900,000 | ||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | ||||||||||||||||||||
Time-Based RSUs [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 81,000 | 133,000 | 271,000 | ||||||||||||||||||
2017 PSU's [Member] | |||||||||||||||||||||
Share Price | $ / shares | $ 89.37 | ||||||||||||||||||||
Purchase Price Per Share | $ / shares | $ 30 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 219 days | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 28.60% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.30% | ||||||||||||||||||||
2016 PSU's [Member] | |||||||||||||||||||||
Share Price | $ / shares | $ 70.98 | $ 58.98 | |||||||||||||||||||
Purchase Price Per Share | $ / shares | $ 20 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 109 days | 2 years 219 days | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 29.60% | 31.10% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.70% | 0.90% | |||||||||||||||||||
2016 PSU's [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Total PSU Earned | 651,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 26,100,000 | ||||||||||||||||||||
2015 MPSUs [Member] | |||||||||||||||||||||
Share Price | $ / shares | $ 61.35 | $ 61.35 | $ 61.35 | ||||||||||||||||||
PSUs Earn-Out Percentage | 500.00% | ||||||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 24,600,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 33.20% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.30% | ||||||||||||||||||||
Number of MPSU Tranches | 4 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Post-Award Vesting Period, Restriction Period on Sales | 2 years | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Discount for Postvesting Restrictions | 7.80% | ||||||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 8,300,000 | ||||||||||||||||||||
Number of Price Targets | 5 | ||||||||||||||||||||
Stock Price Targets Achieved | 5 | ||||||||||||||||||||
2015 MPSUs [Member] | Second, Third, and Fourth Tranches [Member] | |||||||||||||||||||||
Number of Price Targets | 5 | ||||||||||||||||||||
Total number of performance conditions | 6 | ||||||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||||||||||||||||||
Maximum Stock Compensation Costs | $ | 4,500,000 | ||||||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche Three [Member] | |||||||||||||||||||||
Maximum Stock Compensation Costs | $ | 5,200,000 | ||||||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche Four [Member] | |||||||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 6,600,000 | ||||||||||||||||||||
2015 MPSUs [Member] | Minimum [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | $ 71.36 | ||||||||||||||||||||
2015 MPSUs [Member] | Minimum [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | 89.56 | ||||||||||||||||||||
2015 MPSUs [Member] | Minimum [Member] | Share-based Compensation Award, Tranche Three [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | 120.80 | ||||||||||||||||||||
2015 MPSUs [Member] | Maximum [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | 95.57 | ||||||||||||||||||||
2015 MPSUs [Member] | Maximum [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | 106.81 | ||||||||||||||||||||
2015 MPSUs [Member] | Maximum [Member] | Share-based Compensation Award, Tranche Three [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | $ 135.48 | ||||||||||||||||||||
2013 MSU's [Member] | |||||||||||||||||||||
Share Price | $ / shares | $ 31.73 | $ 31.73 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||||||
PSUs Earn-Out Percentage | 500.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 38.70% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.60% | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 38,200,000 | ||||||||||||||||||||
Total MSUE arned | 1,800,000 | ||||||||||||||||||||
2013 MSU's [Member] | Minimum [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | $ 40 | ||||||||||||||||||||
2013 MSU's [Member] | Maximum [Member] | |||||||||||||||||||||
Market Awards Price Targets | $ / shares | $ 56 | ||||||||||||||||||||
Employee Stock Option [Member] | |||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 0 | ||||||||||||||||||||
Proceeds from Stock Options Exercised | $ | $ 100,000 | $ 1,300,000 | $ 7,700,000 | ||||||||||||||||||
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Selling, General and Administrative Expenses [Member] | |||||||||||||||||||||
Share-based Compensation Adjustment | $ | $ 2,900,000 | ||||||||||||||||||||
Employees [Member] | Time-Based RSUs [Member] | Minimum [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||
Employees [Member] | Time-Based RSUs [Member] | Maximum [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||
Director [Member] | Time-Based RSUs [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||||||||||||||
Executive Officer [Member] | 2017 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 200,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 36,300,000 | ||||||||||||||||||||
Executive Officer [Member] | 2016 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 12,000 | 285,000 | |||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Executive Officer [Member] | 2015 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 172,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Total PSU Earned | 432,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 21,000,000 | ||||||||||||||||||||
Executive Officer [Member] | 2015 PSU's [Member] | Vesting in The First Quarter of 2017 [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Executive Officer [Member] | 2015 MPSUs [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 86,000 | ||||||||||||||||||||
Executive Officer [Member] | 2014 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 252,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Total PSU Earned | 694,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 20,700,000 | ||||||||||||||||||||
Executive Officer [Member] | 2014 PSU's [Member] | Vesting in the First Quarter of 2016 [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Executive Officer [Member] | 2013 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 220,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Total PSU Earned | 622,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 15,000,000 | ||||||||||||||||||||
Executive Officer [Member] | 2013 MSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 276,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2017 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 48,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 7,100,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2017 PSU's [Member] | Minimum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage, First Tier | 200.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2017 PSU's [Member] | Maximum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage, Second Tier | 300.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2016 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 64,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2016 PSU's [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Total PSU Earned | 128,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 5,100,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2016 PSU's [Member] | Minimum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage, First Tier | 200.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2016 PSU's [Member] | Maximum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage, Second Tier | 300.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2015 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 58,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
Total PSU Earned | 118,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 5,700,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2015 PSU's [Member] | Vesting in The First Quarter of 2017 [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2015 PSU's [Member] | Minimum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage | 200.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2015 PSU's [Member] | Maximum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2015 MPSUs [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 41,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2014 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 61,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
Total PSU Earned | 103,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 3,700,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2014 PSU's [Member] | Vesting in the Second Quarter of 2016 [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2014 PSU's [Member] | Minimum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage | 200.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2014 PSU's [Member] | Maximum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2013 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 91,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Total PSU Earned | 154,000 | ||||||||||||||||||||
Actual Stock Compensation Costs | $ | $ 3,000,000 | ||||||||||||||||||||
Non-Executive Employees [Member] | 2013 PSU's [Member] | Minimum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage | 200.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2013 PSU's [Member] | Maximum [Member] | |||||||||||||||||||||
PSUs Earn-Out Percentage | 300.00% | ||||||||||||||||||||
Non-Executive Employees [Member] | 2013 MSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 84,000 | ||||||||||||||||||||
Sensima Employees [Member] | 2014 PSU's [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 47,000 | ||||||||||||||||||||
Stock Granted, Value, Share-based Compensation, Gross | $ | $ 2,000,000 | ||||||||||||||||||||
Maximum PSU Earn Out | $ | $ 8,000,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expense to be Recognized over Requisite Service Period | $ | $ 2,000,000 | ||||||||||||||||||||
Sensima Employees [Member] | 2014 PSU's [Member] | Share-based Compensation Award, Tranche One [Member] | Sensima [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||
Sensima Employees [Member] | 2014 PSU's [Member] | Remaining Half of RSU Awards [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||
2004 Employee Stock Plan [Member] | |||||||||||||||||||||
Share-basedCompensation Arrangement by Share-based Payment Award, Other Than Options, Percent Increases in Period | 5.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Automatic Increase Shares | 2,400,000 | ||||||||||||||||||||
Expired Shares under Plan | 2,900,000 | ||||||||||||||||||||
The2014 Plan [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,500,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,200,000 | ||||||||||||||||||||
The 2004 Employee Stock Purchase Plan [Member] | |||||||||||||||||||||
Share-basedCompensation Arrangement by Share-based Payment Award, Other Than Options, Percent Increases in Period | 2.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Automatic Increase Shares | 1,000,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 4,600,000 | ||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 92,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | 2,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares per Employee Value | 25,000 | ||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 53,000 | 56,000 | |||||||||||||||||||
Employee Stock Purchase Plan Shares Issued, Intrinsic Value | $ | $ 1,000,000 | $ 600,000 | |||||||||||||||||||
Proceeds from Stock Plans | $ | $ 2,500,000 | $ 2,200,000 | |||||||||||||||||||
Employee Stock Purchase Plan [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 40,000 | ||||||||||||||||||||
Employee Stock Purchase Plan Shares Issued, Intrinsic Value | $ | $ 1,000,000 | ||||||||||||||||||||
Proceeds from Stock Plans | $ | $ 2,700,000 |
Note 7 - Stock-based Compensa66
Note 7 - Stock-based Compensation - Stock-based Compensation Plan Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share based compensation expense | $ 52,617 | $ 44,989 | $ 41,563 |
Tax benefit related to stock-based compensation | 5,054 | ||
Cost of Sales [Member] | |||
Share based compensation expense | 1,654 | 1,575 | 1,166 |
Research and Development Expense [Member] | |||
Share based compensation expense | 14,816 | 14,041 | 11,156 |
Selling, General and Administrative Expenses [Member] | |||
Share based compensation expense | $ 36,147 | $ 29,373 | $ 29,241 |
Note 7 - Stock-based Compensa67
Note 7 - Stock-based Compensation - RSU Summary (Details) - $ / shares | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Beginning balance (in shares) | 4,270,000 | 4,232,000 | 4,048,000 | ||
Weighted-Average Grant Date Fair Value Per Share, beginning balance (in dollars per share) | $ 36.47 | $ 32.64 | $ 26.14 | ||
Granted (in shares) | 666,000 | 1,349,000 | 1,198,000 | ||
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ 66.56 | $ 43.28 | $ 48.11 | ||
Released (in shares) | (772,000) | (975,000) | (948,000) | ||
Weighted-Average Grant Date Fair Value Per Share, released (in dollars per share) | $ 43.39 | $ 31.36 | $ 24.47 | ||
Forfeited (in shares) | (20,000) | (336,000) | (66,000) | ||
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ 58.46 | $ 30.38 | $ 33.06 | ||
Ending balance (in shares) | 4,144,000 | 4,270,000 | 4,232,000 | ||
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ 39.91 | $ 36.47 | $ 32.64 | ||
Time-Based RSUs [Member] | |||||
Beginning balance (in shares) | 366,000 | 499,000 | 589,000 | ||
Weighted-Average Grant Date Fair Value Per Share, beginning balance (in dollars per share) | $ 51.35 | $ 40.75 | $ 28.48 | ||
Granted (in shares) | 81,000 | 133,000 | 271,000 | ||
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ 94.25 | $ 63 | $ 49.82 | ||
Released (in shares) | (175,000) | (239,000) | (319,000) | ||
Weighted-Average Grant Date Fair Value Per Share, released (in dollars per share) | $ 48.35 | $ 36.43 | $ 26.56 | ||
Forfeited (in shares) | (14,000) | (27,000) | (42,000) | ||
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ 61.80 | $ 45.35 | $ 35.60 | ||
Ending balance (in shares) | 258,000 | 366,000 | 499,000 | ||
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ 66.30 | $ 51.35 | $ 40.75 | ||
PSUs and MPSUs [Member] | |||||
Beginning balance (in shares) | 2,284,000 | 1,933,000 | 1,659,000 | ||
Weighted-Average Grant Date Fair Value Per Share, beginning balance (in dollars per share) | $ 43.24 | $ 38.99 | $ 28.11 | ||
Granted (in shares) | [1] | 585,000 | 1,216,000 | 927,000 | |
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ 62.72 | $ 41.12 | $ 47.61 | ||
Released (in shares) | (597,000) | (736,000) | (629,000) | ||
Weighted-Average Grant Date Fair Value Per Share, released (in dollars per share) | $ 41.94 | $ 29.71 | $ 23.40 | ||
Forfeited (in shares) | (6,000) | (129,000) | (24,000) | ||
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ 49.82 | $ 36.82 | $ 28.68 | ||
Ending balance (in shares) | 2,266,000 | 2,284,000 | 1,933,000 | ||
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ 48.59 | $ 43.24 | $ 38.99 | ||
MSUs [Member] | |||||
Beginning balance (in shares) | 1,620,000 | 1,800,000 | 1,800,000 | ||
Weighted-Average Grant Date Fair Value Per Share, beginning balance (in dollars per share) | $ 23.57 | $ 23.57 | $ 23.57 | ||
Granted (in shares) | [1] | ||||
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | |||||
Released (in shares) | |||||
Weighted-Average Grant Date Fair Value Per Share, released (in dollars per share) | |||||
Forfeited (in shares) | (180,000) | ||||
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ 23.57 | ||||
Ending balance (in shares) | 1,620,000 | 1,620,000 | 1,800,000 | ||
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ 23.57 | $ 23.57 | $ 23.57 | ||
[1] | Amount reflects the number of PSUs and MPSUs that may ultimately be earned based on management's probability assessment of the achievement of performance conditions at each reporting period. In addition, MPSUs are subject to the achievement of market conditions. |
Note 7 - Stock-Based Compensa68
Note 7 - Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Outstanding, shares (in shares) | 14 | 90 | 590 | |
Outstanding, Weighted average exercise price (in dollars per share) | $ 15.88 | $ 17.50 | $ 15.80 | |
Outstanding, Weighted average remaining contractual term (Year) | 146 days | 1 year | 1 year 109 days | 1 year 73 days |
Outstanding, Aggregate intrinsic value | $ 465 | $ 921 | $ 4,134 | $ 20,039 |
Exercised, shares (in shares) | (9) | (76) | (498) | |
Exercised, Weighted average exercise price (in dollars per share) | $ 16.79 | $ 17.80 | $ 15.55 | |
Forfeited and expired, shares (in shares) | (2) | |||
Forfeited and expired, Weighted average exercise price (in dollars per share) | $ 6.10 | |||
Outstanding, shares (in shares) | 5 | 14 | 90 | 590 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 13.89 | $ 15.88 | $ 17.50 | $ 15.80 |
Options exercisable, shares (in shares) | 5 | |||
Options exercisable, Weighted average exercise price (in dollars per share) | $ 13.89 | |||
Options exercisable, Weighted average remaining contractual term (Year) | 146 days | |||
Options exercisable, Aggregate intrinsic value | $ 465 |
Note 7 - Stock-based Compensa69
Note 7 - Stock-based Compensation - Valuation Assumptions (Details) - 2004 Employee Stock Plan [Member] - Employee Stock Purchase Plan [Member] | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected term (years) (Year) | 182 days | 182 days | 182 days |
Expected volatility | 23.50% | 28.60% | 30.30% |
Risk-free interest rate | 0.90% | 0.40% | 0.20% |
Dividend yield | 0.90% | 1.20% | 1.40% |
Note 8 - Stock Repurchase (Deta
Note 8 - Stock Repurchase (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Feb. 29, 2016 | Jul. 31, 2013 | |
Stock Repurchase Program, Authorized Amount | $ 50 | $ 100 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 50 | $ 5.9 | |||
Stock Repurchased and Retired During Period, Shares | 0 | 0 | 600 | ||
Shares Repurchased, Value | $ 32.3 | ||||
Repurchase Stock Average Price Per Share | $ 50.05 |
Note 9 - Dividends and Divide71
Note 9 - Dividends and Dividend Equivalents (Details Textual) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Dividends Payable, Current | $ 8.3 | $ 8.2 |
Accrued Dividend Equivalents | $ 5.8 | $ 4.1 |
Note 9 - Dividends and Divide72
Note 9 - Dividends and Dividend Equivalents - Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.80 | $ 0.80 |
Total amount | $ 33,145 | $ 32,434 | $ 31,618 |
Note 10 - Interest and Other 73
Note 10 - Interest and Other Income, Net - Interest and Other Income Components (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income | $ 5,353 | $ 2,488 | $ 1,608 | ||||||||
Amortization of premium on available-for-sale investments | (1,976) | (1,019) | (463) | ||||||||
Gain (loss) on deferred compensation plan investments | 2,531 | 1,257 | (375) | ||||||||
Foreign currency exchange gain (loss) | (550) | 65 | 608 | ||||||||
Other | 162 | 26 | 43 | ||||||||
Total | $ 1,647 | $ 1,255 | $ 1,237 | $ 1,381 | $ 897 | $ 780 | $ 597 | $ 543 | $ 5,520 | $ 2,817 | $ 1,421 |
Note 11 - Net Income Per Shar74
Note 11 - Net Income Per Share - Net Income Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Numerator: | |||||||||||
Net income | $ 12,071 | $ 23,642 | $ 15,014 | $ 14,477 | $ 16,573 | $ 14,373 | $ 11,198 | $ 10,575 | $ 65,203 | $ 52,720 | $ 35,172 |
Denominator: | |||||||||||
Weighted-average shares outstanding, basic (in shares) | 41,350 | 40,436 | 39,470 | ||||||||
Effect of dilutive securities (in shares) | 2,228 | 1,479 | 1,399 | ||||||||
Weighted-average shares outstanding, diluted (in shares) | 44,610 | 43,486 | 43,397 | 43,268 | 42,404 | 41,895 | 41,716 | 41,646 | 43,578 | 41,915 | 40,869 |
Net income per share: | |||||||||||
Earnings per share, basic (in dollars per share) | $ 0.29 | $ 0.57 | $ 0.36 | $ 0.35 | $ 0.41 | $ 0.35 | $ 0.28 | $ 0.26 | $ 1.58 | $ 1.30 | $ 0.89 |
Earnings per share, diluted (in dollars per share) | $ 0.27 | $ 0.54 | $ 0.35 | $ 0.33 | $ 0.39 | $ 0.34 | $ 0.27 | $ 0.25 | $ 1.50 | $ 1.26 | $ 0.86 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Apr. 30, 2015 | Dec. 31, 2017 | Jun. 30, 2015 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Apr. 30, 2011 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 34.00% | 34.00% | ||||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 9,800 | ||||||||
Deemed repatriation tax | 41,900 | ||||||||
Utilization of R&D tax credit | 18,000 | ||||||||
Transition Tax Payable | $ 23,900 | 23,900 | |||||||
Undistributed Earnings of Foreign Subsidiaries | 390,200 | 390,200 | |||||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (21,600) | ||||||||
Unrecognized Tax Benefits | 16,272 | 16,272 | $ 14,431 | $ 12,093 | $ 16,406 | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 9,100 | 9,100 | 3,500 | ||||||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 500 | 500 | $ 300 | ||||||
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority | $ 10,500 | ||||||||
Tax Adjustments, Settlements, and Unusual Provisions | $ 2,700 | ||||||||
Income Tax Examination, Tax Payment | 1,600 | ||||||||
Income Tax Examination, Interest Expense | $ 1,100 | ||||||||
Domestic Tax Authority [Member] | |||||||||
Operating Loss Carryforwards | 0 | $ 0 | |||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||||||
Income Tax Examination, Year under Examination | 2,014 | ||||||||
Income Taxes Paid | $ 1,200 | 100 | |||||||
Interest Paid | $ 1,000 | ||||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | |||||||||
Income Tax Examination, Year under Examination | 2,005 | ||||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member] | |||||||||
Income Tax Examination, Year under Examination | 2,007 | ||||||||
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | |||||||||
Tax Credit Carryforward, Amount | 800 | $ 800 | |||||||
State and Local Jurisdiction [Member] | |||||||||
Operating Loss Carryforwards | 19,700 | 19,700 | |||||||
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | |||||||||
Tax Credit Carryforward, Amount | 21,000 | 21,000 | |||||||
Accounts Payable and Accrued Liabilities [Member] | |||||||||
Transition Tax Payable | 1,900 | 1,900 | |||||||
Income Tax Liabilites [Member] | |||||||||
Transition Tax Payable | $ 22,000 | $ 22,000 | |||||||
Scenario, Forecast [Member] | |||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 12 - Income Taxes - Compon
Note 12 - Income Taxes - Components of Income Before Income Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
United States | $ (19,115) | $ (14,431) | $ (247) | ||||||||
Foreign | 102,059 | 71,695 | 42,738 | ||||||||
Income before income taxes | $ 26,700 | $ 25,087 | $ 16,207 | $ 14,951 | $ 18,439 | $ 15,781 | $ 12,124 | $ 10,919 | $ 82,944 | $ 57,264 | $ 42,491 |
Note 12 - Income Taxes - Comp77
Note 12 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current: | |||||||||||
Federal | $ 31,025 | $ 2,527 | $ 6,042 | ||||||||
State | 2 | 2 | |||||||||
Foreign | 1,967 | 2,013 | 1,213 | ||||||||
Deferred: | |||||||||||
Federal | (15,426) | ||||||||||
Foreign | 173 | 4 | 62 | ||||||||
Total income tax provision | $ 14,629 | $ 1,445 | $ 1,193 | $ 474 | $ 1,866 | $ 1,408 | $ 926 | $ 344 | $ 17,741 | $ 4,544 | $ 7,319 |
Note 12 - Income Taxes - Income
Note 12 - Income Taxes - Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
U.S. statutory federal tax rate | 35.00% | 34.00% | 34.00% |
Settlement with tax authorities | 6.20% | ||
Foreign income at lower rates | (41.20%) | (41.10%) | (43.10%) |
One-time deemed repatriation transition tax | 50.50% | ||
Remeasurement of deferred taxes | 11.80% | ||
Changes in valuation allowance | (36.20%) | 11.00% | 17.60% |
Stock-based compensation | 2.20% | 2.20% | |
Other adjustments | (0.70%) | 1.80% | 2.50% |
Effective tax rate | 21.40% | 7.90% | 17.20% |
Note 12 - Income Taxes - Deferr
Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
R&D tax credits | $ 10,331 | $ 9,817 |
Stock-based compensation | 9,157 | 7,283 |
Deferred compensation | 5,505 | 6,752 |
Depreciation and amortization | 191 | 161 |
Net operating losses | 1,377 | |
Other expenses not currently deductible | 1,924 | 3,974 |
Total deferred tax assets | 28,485 | 27,987 |
Valuation allowance | (12,568) | (27,354) |
Net deferred tax assets | $ 15,917 | $ 633 |
Note 12 - Income Taxes - Unreco
Note 12 - Income Taxes - Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 14,431 | $ 12,093 | $ 16,406 |
Increase for tax position of current year | 2,360 | 2,095 | 1,964 |
Decrease related to settlement with tax authorities | (4,162) | ||
Decrease due to lapse of statue of limitation | (688) | (669) | |
Decrease for tax position of prior year | (1,446) | ||
Increase for tax position of prior year | 169 | 243 | |
Balance | $ 16,272 | $ 14,431 | $ 12,093 |
Note 13 - Commitments and Con81
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leases, Rent Expense, Net | $ 1,500 | $ 1,700 | $ 1,800 |
Indemnification Agreement [Member] | |||
Loss Contingency Accrual | $ 0 | $ 0 | $ 0 |
Note 13 - Commitments and Con82
Note 13 - Commitments and Contingencies - Future Minimum Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 1,210 |
2,019 | 636 |
2,020 | 193 |
2,021 | 55 |
2,022 | 51 |
Total | $ 2,145 |
Note 13 - Commitments and Con83
Note 13 - Commitments and Contingencies - Changes in Warranty Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 1,030 | $ 289 | $ 240 |
Warranty provision for product sales | 1,912 | 1,102 | 333 |
Settlements made | (40) | (68) | (158) |
Unused warranty provision | (486) | (293) | (126) |
Balance | $ 2,416 | $ 1,030 | $ 289 |
Note 16 - Significant Custome84
Note 16 - Significant Customers - Customers Concentration Summary (Details) - Customer Concentration Risk [Member] | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Sales Revenue, Net [Member] | Distributor A [Member] | |||||||
Concentration risk | 17.00% | 22.00% | 24.00% | ||||
Sales Revenue, Net [Member] | Distributor B [Member] | |||||||
Concentration risk | [1] | ||||||
Sales Revenue, Net [Member] | Distributor C [Member] | |||||||
Concentration risk | 10.00% | [1] | [1] | ||||
Sales Revenue, Net [Member] | Value-added Reseller D [Member] | |||||||
Concentration risk | [1] | ||||||
Accounts Receivable [Member] | Distributor A [Member] | |||||||
Concentration risk | 16.00% | 19.00% | |||||
Accounts Receivable [Member] | Distributor B [Member] | |||||||
Concentration risk | [1] | 17.00% | |||||
Accounts Receivable [Member] | Distributor C [Member] | |||||||
Concentration risk | [1] | ||||||
Accounts Receivable [Member] | Value-added Reseller D [Member] | |||||||
Concentration risk | 15.00% | [1] | |||||
[1] | Represents less than 10%. |
Note 17 - Segment and Geograp85
Note 17 - Segment and Geographic Information (Details Textual) | 12 Months Ended |
Dec. 31, 2017 | |
Number of Reportable Segments | 1 |
Note 17 - Segment and Geograp86
Note 17 - Segment and Geographic Information - Revenue by Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 129,430 | $ 128,939 | $ 112,198 | $ 100,362 | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 470,929 | $ 388,665 | $ 333,067 |
CHINA | |||||||||||
Revenue | 257,787 | 245,169 | 213,119 | ||||||||
TAIWAN, PROVINCE OF CHINA | |||||||||||
Revenue | 83,357 | 45,414 | 41,521 | ||||||||
Europe [Member] | |||||||||||
Revenue | 38,140 | 27,554 | 22,603 | ||||||||
KOREA, REPUBLIC OF | |||||||||||
Revenue | 34,155 | 27,710 | 20,519 | ||||||||
South East Asia [Member] | |||||||||||
Revenue | 25,755 | 19,645 | 18,592 | ||||||||
JAPAN | |||||||||||
Revenue | 20,187 | 14,318 | 9,727 | ||||||||
UNITED STATES | |||||||||||
Revenue | 11,113 | 8,567 | 6,732 | ||||||||
Other Region [Member] | |||||||||||
Revenue | $ 435 | $ 288 | $ 254 |
Note 17 - Segment and Geograp87
Note 17 - Segment and Geographic Information - Revenue by Product Family (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 129,430 | $ 128,939 | $ 112,198 | $ 100,362 | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 470,929 | $ 388,665 | $ 333,067 |
DC To DC Products [Member] | |||||||||||
Revenue | 431,861 | 350,930 | 299,726 | ||||||||
Lighting Control Products [Member] | |||||||||||
Revenue | $ 39,068 | $ 37,735 | $ 33,341 |
Note 17 - Segment and Geograp88
Note 17 - Segment and Geographic Information - Long Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Long lived assets by region | $ 180,238 | $ 115,033 | $ 93,324 |
CHINA | |||
Long lived assets by region | 89,472 | 45,728 | 40,738 |
UNITED STATES | |||
Long lived assets by region | 65,618 | 50,242 | 40,405 |
TAIWAN, PROVINCE OF CHINA | |||
Long lived assets by region | 17,238 | 8,919 | 126 |
BERMUDA | |||
Long lived assets by region | 7,522 | 9,573 | 11,624 |
Other Region [Member] | |||
Long lived assets by region | $ 388 | $ 571 | $ 431 |
Note 18 - Accumulated Other C89
Note 18 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 431,116 | $ 368,516 |
Balance | 522,007 | 431,116 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||
Balance | (1,023) | (375) |
Other comprehensive loss before reclassifications | (343) | (623) |
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | (25) |
Net current period other comprehensive loss | (341) | (648) |
Balance | (1,364) | (1,023) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Balance | (3,192) | 1,841 |
Other comprehensive loss before reclassifications | 6,369 | (5,033) |
Amounts reclassified from accumulated other comprehensive income (loss) | ||
Net current period other comprehensive loss | 6,369 | (5,033) |
Balance | 3,177 | (3,192) |
AOCI Attributable to Parent [Member] | ||
Balance | (4,215) | 1,466 |
Other comprehensive loss before reclassifications | 6,026 | (5,656) |
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | (25) |
Net current period other comprehensive loss | 6,028 | (5,681) |
Balance | $ 1,813 | $ (4,215) |
Note 19 - Subsequent Event (Det
Note 19 - Subsequent Event (Details Textual) - $ / shares | 3 Months Ended | 12 Months Ended | ||||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Common Stock, Dividends, Per Share, Declared | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.80 | $ 0.80 | |
Scenario, Forecast [Member] | ||||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.30 |
Note 20 - Quarterly Financial91
Note 20 - Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 129,430 | $ 128,939 | $ 112,198 | $ 100,362 | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 470,929 | $ 388,665 | $ 333,067 |
Cost of revenue | 58,269 | 58,083 | 50,773 | 45,520 | 47,107 | 48,531 | 43,153 | 39,002 | 212,646 | 177,792 | 152,898 |
Gross profit | 71,161 | 70,856 | 61,425 | 54,842 | 56,511 | 57,925 | 50,926 | 45,510 | 258,283 | 210,873 | 180,169 |
Research and development | 21,730 | 21,442 | 20,292 | 18,894 | 17,974 | 20,472 | 17,876 | 17,321 | 82,359 | 73,643 | 65,787 |
Selling, general and administrative | 24,038 | 25,255 | 25,873 | 22,092 | 21,316 | 22,397 | 21,531 | 17,768 | 97,257 | 83,012 | 72,312 |
Litigation expense, net | 340 | 327 | 290 | 286 | (321) | 55 | (8) | 45 | |||
Total operating expenses | 46,108 | 47,024 | 46,455 | 41,272 | 38,969 | 42,924 | 39,399 | 35,134 | 180,859 | 156,426 | 139,099 |
Income from operations | 25,053 | 23,832 | 14,970 | 13,570 | 17,542 | 15,001 | 11,527 | 10,376 | 77,424 | 54,447 | 41,070 |
Interest and other income (expense), net | 1,647 | 1,255 | 1,237 | 1,381 | 897 | 780 | 597 | 543 | 5,520 | 2,817 | 1,421 |
Income before income taxes | 26,700 | 25,087 | 16,207 | 14,951 | 18,439 | 15,781 | 12,124 | 10,919 | 82,944 | 57,264 | 42,491 |
Income tax provision | 14,629 | 1,445 | 1,193 | 474 | 1,866 | 1,408 | 926 | 344 | 17,741 | 4,544 | 7,319 |
Net income | $ 12,071 | $ 23,642 | $ 15,014 | $ 14,477 | $ 16,573 | $ 14,373 | $ 11,198 | $ 10,575 | $ 65,203 | $ 52,720 | $ 35,172 |
Earnings per share, basic (in dollars per share) | $ 0.29 | $ 0.57 | $ 0.36 | $ 0.35 | $ 0.41 | $ 0.35 | $ 0.28 | $ 0.26 | $ 1.58 | $ 1.30 | $ 0.89 |
Earnings per share, diluted (in dollars per share) | $ 0.27 | $ 0.54 | $ 0.35 | $ 0.33 | $ 0.39 | $ 0.34 | $ 0.27 | $ 0.25 | $ 1.50 | $ 1.26 | $ 0.86 |
Weighted-average shares outstanding, basic (in shares) | 41,574 | 41,458 | 41,323 | 41,047 | 40,739 | 40,590 | 40,387 | 40,028 | |||
Weighted-average shares outstanding, diluted (in shares) | 44,610 | 43,486 | 43,397 | 43,268 | 42,404 | 41,895 | 41,716 | 41,646 | 43,578 | 41,915 | 40,869 |
Common Stock, Dividends, Per Share, Declared | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.80 | $ 0.80 |