Monolithic Power Systems (MPWR) 10-Q 5 May 23 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Document Information [Line Items]
Entity Central Index Key	0001280452
Entity Registrant Name	MONOLITHIC POWER SYSTEMS INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-51026
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0466789
Entity Address, Address Line One	5808 Lake Washington Blvd. NE
Entity Address, City or Town	Kirkland
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98033
City Area Code	425
Local Phone Number	296-9956
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MPWR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,423,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 488,972	$ 288,607
Short-term investments	428,598	449,266
Accounts receivable, net	184,274	182,714
Inventories	430,830	447,290
Other current assets	89,955	42,742
Total current assets	1,622,629	1,410,619
Property and equipment, net	354,313	357,157
Goodwill	6,571	6,571
Deferred tax assets, net	35,571	35,252
Other long-term assets	207,567	249,286
Total assets	2,226,651	2,058,885
Current liabilities:
Accounts payable	58,001	61,461
Accrued compensation and related benefits	101,881	88,260
Other accrued liabilities	155,961	113,679
Total current liabilities	315,843	263,400
Income tax liabilities	56,900	53,509
Other long-term liabilities	77,647	73,374
Total liabilities	450,390	390,283
Commitments and contingencies
Stockholders’ equity:
Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 47,411 and 47,107, respectively	1,017,131	975,276
Retained earnings	777,075	716,403
Accumulated other comprehensive loss	(17,945)	(23,077)
Total stockholders’ equity	1,776,261	1,668,602
Total liabilities and stockholders’ equity	$ 2,226,651	$ 2,058,885

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2023	Dec. 31, 2022
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)	47,411	47,107
Common stock, shares outstanding (in shares)	47,411	47,107

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 451,065	$ 377,714
Cost of revenue	192,285	158,834
Gross profit	258,780	218,880
Operating expenses:
Research and development	63,709	54,104
Selling, general and administrative	70,795	68,642
Total operating expenses	134,504	122,746
Operating income	124,276	96,134
Other income (expense), net	5,297	(634)
Income before income taxes	129,573	95,500
Income tax expense	19,771	15,934
Net income	$ 109,802	$ 79,566
Net income per share
Basic (in dollars per share)	$ 2.32	$ 1.71
Diluted (in dollars per share)	$ 2.26	$ 1.65
Weighted-average shares outstanding:
Basic (in shares)	47,234	46,424
Diluted (in shares)	48,655	48,250

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 109,802	$ 79,566
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	2,919	(178)
Change in unrealized gain (loss) on available-for-sale securities, net of tax of $311 and $565, respectively	2,213	(5,400)
Other comprehensive income (loss), net of tax:	5,132	(5,578)
Comprehensive income	$ 114,934	$ 73,988

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Change in unrealized gain (loss) on available-for-sale securities, tax	$ 311	$ 565

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2021	46,256
Balance at Dec. 31, 2021	$ 803,226	$ 424,879	$ 15,880	$ 1,243,985
Net income	0	79,566	0	79,566
Other comprehensive income (loss)	0	0	(5,578)	(5,578)
Dividends and dividend equivalents declared	$ 0	(36,601)	0	(36,601)
Common stock issued under the employee equity incentive plan (in shares)	362
Common stock issued under the employee equity incentive plan	$ 2,318	0	0	2,318
Common stock issued under the employee stock purchase plan (in shares)	7
Common stock issued under the employee stock purchase plan	$ 2,786	0	0	2,786
Stock-based compensation expense	$ 39,636	0	0	39,636
Balance (in shares) at Mar. 31, 2022	46,625
Balance at Mar. 31, 2022	$ 847,966	467,844	10,302	$ 1,326,112
Balance (in shares) at Dec. 31, 2022	47,107			47,107
Balance at Dec. 31, 2022	$ 975,276	716,403	(23,077)	$ 1,668,602
Net income	0	109,802	0	109,802
Other comprehensive income (loss)	0	0	5,132	5,132
Dividends and dividend equivalents declared	$ 0	(49,130)	0	(49,130)
Common stock issued under the employee equity incentive plan (in shares)	295
Common stock issued under the employee equity incentive plan	$ 1,110	0	0	1,110
Common stock issued under the employee stock purchase plan (in shares)	9
Common stock issued under the employee stock purchase plan	$ 3,737	0	0	3,737
Stock-based compensation expense	$ 37,008	0	0	$ 37,008
Balance (in shares) at Mar. 31, 2023	47,411			47,411
Balance at Mar. 31, 2023	$ 1,017,131	$ 777,075	$ (17,945)	$ 1,776,261

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Dividends and dividend equivalents declared per share (in dollars per share)	$ 1	$ 0.75

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 109,802	$ 79,566
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,987	9,120
Amortization of premium on available-for-sale securities	260	1,348
(Gain) loss on deferred compensation plan investments	(2,534)	2,192
Deferred taxes, net	(622)	(381)
Stock-based compensation expense	37,009	39,811
Changes in operating assets and liabilities:
Accounts receivable	(1,558)	(15,506)
Inventories	16,063	(51,797)
Other assets	213	(5,916)
Accounts payable	(880)	(4,177)
Accrued compensation and related benefits	13,422	27,382
Income tax liabilities	20,137	16,017
Other accrued liabilities	17,508	9,760
Net cash provided by operating activities	218,807	107,419
Cash flows from investing activities:
Purchases of property and equipment	(8,854)	(26,877)
Purchases of investments	(129,321)	(16,243)
Maturities and sales of investments	152,698	32,267
Contributions to deferred compensation plan, net	(2,209)	(760)
Net cash provided by (used in) investing activities	12,314	(11,613)
Cash flows from financing activities:
Property and equipment purchased on extended payment terms	(374)	(528)
Proceeds from common stock issued under the employee equity incentive plan	1,110	2,318
Proceeds from common stock issued under the employee stock purchase plan	3,737	2,786
Dividends and dividend equivalents paid	(36,725)	(28,825)
Net cash used in financing activities	(32,252)	(24,249)
Effect of change in exchange rates	1,497	(220)
Net increase in cash, cash equivalents and restricted cash	200,366	71,337
Cash, cash equivalents and restricted cash, beginning of period	288,729	189,389
Cash, cash equivalents and restricted cash, end of period	489,095	260,726
Supplemental disclosures for cash flow information:
Cash paid (refund) for income taxes, net	(1,300)	244
Non-cash investing and financing activities:
Liability accrued for property and equipment purchases	2,482	6,122
Liability accrued for dividends and dividend equivalents	$ 49,219	$ 36,611

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. The accompanying unaudited condensed consolidated financial statements have been prepared by Monolithic Power Systems, Inc. (the “Company” or “MPS”) in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted in accordance with these accounting principles, rules and regulations. The information in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Annual Report on Form 10 December 31, 2022, February 24, 2023. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s financial position, results of operations and cash flows for the interim periods presented. The financial statements contained in this Quarterly Report on Form 10 not may December 31, 2023 Use of Estimates The preparation of financial statements in conformity with 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 condensed consolidated financial statements primarily include those related to revenue recognition, inventory valuation, valuation of share-based awards, contingencies and income tax valuation allowances. Actual results could differ from these estimates and assumptions, and any such differences may

Note 2 - Revenue Recognition

Note 2 - Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. REVENUE RECOGNITION Revenue from Product Sales The Company generates revenue primarily from product sales, which include assembled and tested integrated circuits (“ICs”), as well as dies in wafer form. These product sales accounted for 99% and 98% of the Company’s total revenue for the three March 31, 2023 2022 , third not 7 The Company sells its products primarily through third three March 31, 2023 2022, not The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company excludes taxes assessed by government authorities, such as sales taxes, from revenue. Product sales consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue from distributors and direct end customers when the following events have occurred: (a) the Company has transferred physical possession of the products, (b) the Company has a present right to payment, (c) the customer has legal title to the products, and (d) the customer bears significant risks and rewards of ownership of the products. In accordance with the shipping terms specified in the contracts, these criteria are generally met when the products are shipped from the Company’s facilities (such as the “Ex Works” shipping term) or delivered to the customers’ locations (such as the “Delivered Duty Paid” shipping term). Under certain consignment agreements, revenue is not not Variable Consideration The Company accounts for price adjustments and stock rotation rights as variable consideration that reduces the transaction price and recognizes that reduction in the same period the associated revenue is recognized. Four U.S.-based distributors have price adjustment rights when they sell the Company’s products to their end customers at a price that is lower than the distribution price invoiced by the Company. When the Company receives claims from the distributors that products have been sold to the end customers at the lower prices, the Company issues the distributors credit memos for the price adjustments. The Company estimates the price adjustments using the expected value method based on an analysis of historical claims, at both the distributor and product level, as well as an assessment of any known trends of product sales mix. Other U.S. distributors and non-U.S. distributors do not Certain distributors have limited stock rotation rights that permit the return of a small percentage of the previous six Contract Balances Accounts Receivable: The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. As of March 31, 2023 December 31, 2022 , 30 90 not may not Contract Liabilities: For certain customers located in Asia, the Company requires cash payments two March 31, 2023 December 31, 2022 , three March 31, 2023 , December 31, 2022 . Practical Expedients The Company has elected the practical expedient to expense sales commissions as incurred because the amortization period would have been one The Company’s standard payment terms generally require customers to pay 30 to 90 days after the Company satisfies the performance obligations. For those customers who are required to pay in advance, the Company satisfies the performance obligations generally within a quarter. For these reasons, the Company has elected not The Company’s unsatisfied performance obligations primarily include products held in consignment arrangements and customer purchase orders for products that the Company has not one not

Note 3 - Stock-based Compensati

Note 3 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	3. 2014 In April 2013, 2014 “2014 June 2013. October 2014, 2014 2014 November 13, 2014 April 2020, 2014 2014 June 2020. 2014 June 11, 2020 2014 June 11, 2030. March 31, 2023, 2014 Stock-Based Compensation Expense The Company recognized stock-based compensation expenses as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenue $ 1,147 $ 1,307 Research and development 8,614 8,401 Selling, general and administrative 27,248 30,103 Total stock-based compensation expense $ 37,009 $ 39,811 Tax benefit related to stock-based compensation (1) $ 423 $ 573 ( 1 Amount reflects the tax benefit related to stock-based compensation recorded for equity awards that are expected to generate tax deductions when they vest in future periods. Equity awards granted to the Company’s executive officers are subject to the tax deduction limitations set by Section 162 Restricted Stock Units ( RSUs ) The Company’s RSUs include time-based RSUs, RSUs with performance conditions (“PSUs”), RSUs with market conditions (“MSUs”), and RSUs with both market and performance conditions (“MPSUs”). Vesting of awards with performance conditions or market conditions is subject to the achievement of pre-determined performance/market goals and the approval of such achievement by the Compensation Committee of the Board of Directors (the “Compensation Committee”). All awards include service conditions which require continued employment with the Company. A summary of RSU activity is presented in the table below (in thousands, except per-share amounts): Time-Based RSUs PSUs and MPSUs MSUs Total Number of Shares Weighted- Average Grant Date Fair Value Per Share Number of Shares Weighted- Average Grant Date Fair Value Per Share Number of Shares Weighted- Average Grant Date Fair Value Per Share Number of Shares Weighted- Average Grant Date Fair Value Per Share Outstanding at January 1, 2023 106 $ 327.13 748 $ 275.70 1,805 $ 126.57 2,659 $ 176.50 Granted 27 $ 467.62 246 (1) $ 449.22 - $ - 273 $ 450.13 Vested (16 ) $ 279.89 (198 ) $ 291.65 (81 ) $ 23.57 (295 ) $ 217.47 Forfeited (2 ) $ 361.26 (2 ) $ 285.23 (5 ) $ 139.15 (9 ) $ 225.18 Outstanding at March 31, 2023 115 $ 365.93 794 $ 326.02 1,719 $ 131.39 2,628 $ 200.37 ( 1 Amount reflects the number of awards that may The intrinsic value related to vested RSUs was $141.6 million and $151.7 million for the three March 31, 2023 2022, March 31, 2023, March 31, 2023, three Cash proceeds from vested PSUs with a purchase price requirement totaled $1.1 million and $2.3 million for the three March 31, 2023 2022, Time-Based RSUs: For the three March 31, 2023, four one 2023 In February 2023, two “2023 first 2023 three 2023 2025 three second 2023 three 2023 December 31, 2025 2023 In February 2023, 2024 two 2023 2024 two “2023 2023 2023 first 2025 2023 two 2023 The 2023 2023 $30 $30 2023 2023 no not 2004 ESPP ) For the three March 31, 2023 2022, March 31, 2023, The intrinsic value of the shares issued was $0.7 million for both the three March 31, 2023 2022. March 31, 2023, third 2023. Three Months Ended March 31, 2023 2022 Expected term (in years) 0.5 0.5 Expected volatility 55.8 % 38.1 % Risk-free interest rate 5.0 % 0.7 % Dividend yield 0.8 % 0.6 % Cash proceeds from the shares issued under the ESPP were $3.7 million and $2.8 million for the three March 31, 2023 2022,

Note 4 - Balance Sheet Componen

Note 4 - Balance Sheet Components	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	4. Inventories Inventories consist of the following (in thousands): March 31, December 31, 2023 2022 Raw materials $ 131,367 $ 126,760 Work in process 126,417 134,071 Finished goods 173,046 186,459 Total $ 430,830 $ 447,290 Other Current Assets Other current assets consist of the following (in thousands): March 31, December 31, 2023 2022 Prepaid wafer purchase $ 50,000 $ - RSU tax withholding proceeds receivable 15,997 14,480 Prepaid expenses 9,719 11,045 Accrued interest receivable 3,537 8,752 Other 10,702 8,465 Total $ 89,955 $ 42,742 Prepaid wafer purchase of $50.0 million relates to a deposit made to a vendor under a long-term wafer supply agreement. See Note 8 Other Long-Term Assets Other long-term assets consist of the following (in thousands): March 31, December 31, 2023 2022 Prepaid wafer purchase $ 120,000 $ 170,000 Deferred compensation plan assets 67,765 63,022 Other 19,802 16,264 Total $ 207,567 $ 249,286 Prepaid wafer purchase relates to a deposit made to a vendor under a long-term wafer supply agreement. See Note 8 Other Accrued Liabilities Other accrued liabilities consist of the following (in thousands): March 31, December 31, 2023 2022 Dividends and dividend equivalents $ 54,656 $ 42,170 Warranty 19,726 24,082 Stock rotation and sales returns 30,155 14,931 Income tax payable 32,338 15,595 Other 19,086 16,901 Total $ 155,961 $ 113,679 As of March 31, 2023, December 31, 2022. Other Long-Term Liabilities Other long-term liabilities consist of the following (in thousands): March 31, December 31, 2023 2022 Deferred compensation plan liabilities $ 65,678 $ 64,863 Dividend equivalents 6,765 6,847 Other 5,204 1,664 Total $ 77,647 $ 73,374

Note 5 - Leases

Note 5 - Leases	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Leases Disclosure [Text Block]	5. Lessee The Company has operating leases primarily for administrative and sales and marketing offices, manufacturing operations and research and development facilities, employee housing units and certain equipment. These leases have remaining lease terms from less than one eight two not The following table summarizes the balances of operating lease right-of-use (“ROU”) assets and liabilities (in thousands): March 31, December 31, Financial Statement Line Item 2023 2022 Operating lease ROU assets Other long-term assets $ 7,820 $ 4,288 Operating lease liabilities Other accrued liabilities $ 2,018 $ 2,133 Other long-term liabilities $ 5,203 $ 1,664 The following tables summarize certain information related to the leases (in thousands, except percentages): Three Months Ended March 31, 2023 2022 Lease costs: Operating lease costs $ 716 $ 729 Other 538 367 Total lease costs $ 1,254 $ 1,096 Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 864 $ 932 ROU assets obtained in exchange for new operating lease liabilities $ 4,545 $ 1,010 March 31, December 31, 2023 2022 Weighted-average remaining lease term (in years) 5.3 2.1 Weighted-average discount rate 3.4 % 2.1 % As of March 31, 2023, 2023 (remaining nine months) $ 1,756 2024 1,591 2025 1,190 2026 921 2027 929 Thereafter 1,509 Total remaining lease payments 7,896 Less: imputed interest (675 ) Total lease liabilities $ 7,221 As of March 31, 2023 , no not Lessor The Company owns certain office buildings and leases a portion of these properties to third one three five For the three March 31, 2023 2022, March 31, 2023, 2023 (remaining nine months) $ 1,112 2024 613 2025 107 2026 20 Total $ 1,852

Note 6 - Net Income Per Share

Note 6 - Net Income Per Share	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	6. 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 exercised 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 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 The following table sets forth the computation of basic and diluted net income per share (in thousands, except per-share amounts): Three Months Ended March 31, 2023 2022 Numerator: Net income $ 109,802 $ 79,566 Denominator: Weighted-average outstanding shares - basic 47,234 46,424 Effect of dilutive securities 1,421 1,826 Weighted-average outstanding shares - diluted 48,655 48,250 Net income per share: Basic $ 2.32 $ 1.71 Diluted $ 2.26 $ 1.65 Anti-dilutive common stock equivalents were not

Note 7 - Segment, Significant C

Note 7 - Segment, Significant Customers and Geographic Information	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7. The Company operates in one reportable segment that includes the design, development, marketing and sale of high-performance, semiconductor-based power electronic solutions for the storage and computing, enterprise data, automotive, industrial, communications and consumer markets. The Company’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 Company sells its products primarily through third 10% Three Months Ended March 31, Customer 2023 2022 Distributor A 20 % 24 % Distributor B 21 % 18 % Distributor C * 11 % * Represents less than 10%. The Company’s agreements with these third may may not The following table summarizes those customers with accounts receivable equal to 10% March 31, December 31, Customer 2023 2022 Distributor A 22 % 29 % Distributor B 23 % 23 % The following is a summary of revenue by geographic region (in thousands): Three Months Ended March 31, Country or Region 2023 2022 China $ 225,052 $ 206,079 Taiwan 48,833 56,437 South Korea 45,680 40,373 Europe 43,103 25,215 United States 31,017 13,446 Japan 30,815 19,155 Southeast Asia 26,432 16,889 Other 133 120 Total $ 451,065 $ 377,714 The following is a summary of revenue by product family (in thousands): Three Months Ended March 31, Product Family 2023 2022 Direct Current (“DC”) to DC $ 425,181 $ 358,849 Lighting Control 25,884 18,865 Total $ 451,065 $ 377,714 The following is a summary of long-lived assets by geographic region (in thousands): March 31, December 31, Country 2023 2022 China $ 196,790 $ 200,508 United States 115,363 113,996 Taiwan 19,812 20,074 Other 22,348 22,579 Total $ 354,313 $ 357,157

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. Product Warranties The Company generally provides either one two no not The changes in warranty reserves are as follows (in thousands): Three Months Ended March 31, 2023 2022 Balance at beginning of period $ 24,082 $ 20,989 Warranties issued 362 - Repairs, replacement and refund (672 ) (1,380 ) Changes in liability for pre-existing warranties (4,046 ) 4,224 Balance at end of period $ 19,726 $ 23,833 Changes in liability for pre-existing warranties result from changes in estimates for warranties issued in prior periods. Purchase Commitments The Company has outstanding purchase obligations with its suppliers and other parties that require the future purchases of goods or services. The purchase obligations primarily consist of wafer and other inventory purchases, assembly and other manufacturing services, construction of manufacturing and research and development facilities, purchases of production and other equipment, and license arrangements. In May 2022, four March 31, 2023, Total estimated future unconditional purchase commitments to all suppliers and other parties as of March 31, 2023 2023 (remaining nine months) $ 337,545 2024 337,537 2025 353,952 Total $ 1,029,034 Litigation The Company is a party to actions and proceedings in the ordinary course of business, including 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 Company may may March 31, 2023 , no

Note 9 - Cash, Cash Equivalents

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	9. The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands): March 31, December 31, 2023 2022 Cash $ 447,746 $ 273,145 Money market funds 41,226 15,462 Certificates of deposit 131,042 130,467 Corporate debt securities 244,155 292,586 Commercial paper 18,163 17,928 U.S. treasuries and government agency bonds 35,238 8,285 Auction-rate securities backed by student-loan notes 1,516 1,711 Total $ 919,086 $ 739,584 March 31, December 31, 2023 2022 Reported as: Cash and cash equivalents $ 488,972 $ 288,607 Short-term investments 428,598 449,266 Investment within other long-term assets 1,516 1,711 Total $ 919,086 $ 739,584 The following table summarizes the contractual maturities of the short-term and long-term available-for-sale investments as of March 31, 2023 ( Amortized Cost Fair Value Due in less than 1 year $ 252,449 $ 249,803 Due in 1 - 5 years 181,774 178,795 Due in greater than 5 years 1,571 1,516 Total $ 435,794 $ 430,114 Gross realized gains and losses recognized on the sales of available-for-sale investments were not The following tables summarize the unrealized gain and loss positions related to the available-for-sale investments (in thousands): March 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Money market funds $ 41,226 $ - $ - $ 41,226 Certificates of deposit 131,042 - - 131,042 Corporate debt securities 249,743 39 (5,627 ) 244,155 Commercial paper 18,163 - - 18,163 U.S. treasuries and government agency bonds 35,276 83 (121 ) 35,238 Auction-rate securities backed by student-loan notes 1,570 - (54 ) 1,516 Total $ 477,020 $ 122 $ (5,802 ) $ 471,340 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Money market funds $ 15,462 $ - $ - $ 15,462 Certificates of deposit 130,467 - - 130,467 Corporate debt securities 300,529 18 (7,961 ) 292,586 Commercial paper 17,928 - - 17,928 U.S. treasuries and government agency bonds 8,487 - (202 ) 8,285 Auction-rate securities backed by student-loan notes 1,770 - (59 ) 1,711 Total $ 474,643 $ 18 $ (8,222 ) $ 466,439 The following tables present information about the available-for-sale investments that had been in a continuous unrealized loss position for less than 12 12 March 31, 2023 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 18,084 $ (68 ) $ 212,767 $ (5,559 ) $ 230,851 $ (5,627 ) U.S. treasuries and government agency bonds 2,878 (5 ) 7,383 (116 ) 10,261 (121 ) Auction-rate securities backed by student-loan notes - - 1,516 (54 ) 1,516 (54 ) Total $ 20,962 $ (73 ) $ 221,666 $ (5,729 ) $ 242,628 $ (5,802 ) December 31, 2022 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 72,943 $ (973 ) $ 202,074 $ (6,988 ) $ 275,017 $ (7,961 ) U.S. treasuries and government agency bonds 987 (2 ) 7,298 (200 ) 8,285 (202 ) Auction-rate securities backed by student-loan notes - - 1,711 (59 ) 1,711 (59 ) Total $ 73,930 $ (975 ) $ 211,083 $ (7,247 ) $ 285,013 $ (8,222 ) An impairment exists when the fair value of an investment is less than its amortized cost basis. As of March 31, 2023 December 31, 2022, not one not The Company’s auction-rate securities are backed by pools of student loans supported by guarantees by the U.S. Department of Education. The underlying maturities of these securities are up to 23 not not not Non-Marketable Equity Investment In November 2020 , April 2022, March 31, 2023 December 31, 2022 , not three March 31, 2023 . Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Condensed Consolidated Balance Sheets to the amounts reported on the Condensed Consolidated Statements of Cash Flows (in thousands): March 31, December 31, 2023 2022 Cash and cash equivalents $ 488,972 $ 288,607 Restricted cash included in other long-term assets 123 122 Total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Statements of Cash Flows $ 489,095 $ 288,729 As of March 31, 2023 December 31, 2022 ,

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	10. The following tables summarize the fair value of the financial assets measured on a recurring basis (in thousands): March 31, 2023 Total Level 1 Level 2 Level 3 Money market funds $ 41,226 $ 41,226 $ - $ - Certificates of deposit 131,042 - 131,042 - Corporate debt securities 244,155 - 244,155 - Commercial paper 18,163 - 18,163 U.S. treasuries and government agency bonds 35,238 - 35,238 - Auction-rate securities backed by student-loan notes 1,516 - - 1,516 Mutual funds and money market funds under deferred compensation plan 47,114 47,114 - - Total $ 518,454 $ 88,340 $ 428,598 $ 1,516 December 31, 2022 Total Level 1 Level 2 Level 3 Money market funds $ 15,462 $ 15,462 $ - $ - Certificates of deposit 130,467 - 130,467 - Corporate debt securities 292,586 - 292,586 - Commercial paper 17,928 - 17,928 - U.S. treasuries and government agency bonds 8,285 - 8,285 - Auction-rate securities backed by student-loan notes 1,711 - - 1,711 Mutual funds and money market funds under deferred compensation plan 43,933 43,933 - - Total $ 510,372 $ 59,395 $ 449,266 $ 1,711 ● Level 1 ● Level 2 may third ● Level 3 Redemptions and changes in the fair value of the auction-rate securities classified as Level 3 not

Note 11 - Deferred Compensation

Note 11 - Deferred Compensation Plan	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	11. The following table summarizes the deferred compensation plan balances on the Condensed Consolidated Balance Sheets (in thousands): March 31, December 31, 2023 2022 Deferred compensation plan asset components: Cash surrender value of corporate-owned life insurance policies $ 20,651 $ 19,089 Fair value of mutual funds and money market funds 47,114 43,933 Total $ 67,765 $ 63,022 Deferred compensation plan assets reported in: Other long-term assets $ 67,765 $ 63,022 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 4,191 $ 118 Other long-term liabilities 65,678 64,863 Total $ 69,869 $ 64,981

Note 12 - Other Income (Expense

Note 12 - Other Income (Expense), Net	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Other Nonoperating Income and Expense [Text Block]	12. The components of other income (expense), net, are as follows (in thousands): Three Months Ended March 31, 2023 2022 Interest income $ 4,808 $ 3,461 Amortization of premium on available-for-sale securities (260 ) (1,348 ) Gain (loss) on deferred compensation plan investments 2,534 (2,192 ) Charitable contributions (2,000 ) (500 ) Other 215 (55 ) Total $ 5,297 $ (634 )

Note 13 - Income Taxes

Note 13 - Income Taxes	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13. The income tax provision or benefit for interim periods is generally determined using an estimate of the Company’s annual effective tax rate and adjusted for discrete items, if any, in the relevant period. Each quarter the estimate of the annual effective tax rate is updated, and if the Company’s estimated tax rate changes, a cumulative adjustment is made. The income tax expense for the three March 31, 2023 The income tax expense for the three March 31, 2022 On August 9, 2022, 2022 August 16, 2022, 2022 15% 1% January 1, 2023. not three March 31, 2023.

Note 14 - Accumulated Other Com

Note 14 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	14. The following table summarizes the changes in accumulated other comprehensive loss (in thousands): Unrealized Gains (Losses) on Available-for- Sale Securities Foreign Currency Translation Adjustments Total Balance as of January 1, 2023 $ (7,727 ) $ (15,350 ) $ (23,077 ) Other comprehensive income before reclassifications 2,524 2,919 5,443 Tax effect (311 ) - (311 ) Net current period other comprehensive income 2,213 2,919 5,132 Balance as of March 31, 2023 $ (5,514 ) $ (12,431 ) $ (17,945 )

Note 15 - Dividends and Dividen

Note 15 - Dividends and Dividend Equivalents	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Dividends And Dividend Equivalents [Text Block]	15. Cash Dividend Program The Company has a dividend program approved by the Board of Directors, 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): Three Months Ended March 31, 2023 2022 Dividend declared per share $ 1.00 $ 0.75 Total amount $ 47,330 $ 34,908 As of March 31, 2023 December 31, 2022, 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, and other factors that the Board of Directors may The Company anticipates that cash used for future dividend payments will come from its domestic cash, cash generated from ongoing U.S. operations, and cash repatriated from its Bermuda subsidiary. The Company also anticipates that earnings from other foreign subsidiaries will continue to be indefinitely reinvested. Cash Dividend Equivalent Rights The Company’s 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 March 31, 2023 December 31, 2022 ,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with 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 condensed consolidated financial statements primarily include those related to revenue recognition, inventory valuation, valuation of share-based awards, contingencies and income tax valuation allowances. Actual results could differ from these estimates and assumptions, and any such differences may

Note 3 - Stock-based Compensa_2

Note 3 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended March 31, 2023 2022 Cost of revenue $ 1,147 $ 1,307 Research and development 8,614 8,401 Selling, general and administrative 27,248 30,103 Total stock-based compensation expense $ 37,009 $ 39,811 Tax benefit related to stock-based compensation (1) $ 423 $ 573
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Time-Based RSUs PSUs and MPSUs MSUs Total Number of Shares Weighted- Average Grant Date Fair Value Per Share Number of Shares Weighted- Average Grant Date Fair Value Per Share Number of Shares Weighted- Average Grant Date Fair Value Per Share Number of Shares Weighted- Average Grant Date Fair Value Per Share Outstanding at January 1, 2023 106 $ 327.13 748 $ 275.70 1,805 $ 126.57 2,659 $ 176.50 Granted 27 $ 467.62 246 (1) $ 449.22 - $ - 273 $ 450.13 Vested (16 ) $ 279.89 (198 ) $ 291.65 (81 ) $ 23.57 (295 ) $ 217.47 Forfeited (2 ) $ 361.26 (2 ) $ 285.23 (5 ) $ 139.15 (9 ) $ 225.18 Outstanding at March 31, 2023 115 $ 365.93 794 $ 326.02 1,719 $ 131.39 2,628 $ 200.37
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2023 2022 Expected term (in years) 0.5 0.5 Expected volatility 55.8 % 38.1 % Risk-free interest rate 5.0 % 0.7 % Dividend yield 0.8 % 0.6 %

Note 4 - Balance Sheet Compon_2

Note 4 - Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2023 2022 Raw materials $ 131,367 $ 126,760 Work in process 126,417 134,071 Finished goods 173,046 186,459 Total $ 430,830 $ 447,290
Schedule of Other Current Assets [Table Text Block]	March 31, December 31, 2023 2022 Prepaid wafer purchase $ 50,000 $ - RSU tax withholding proceeds receivable 15,997 14,480 Prepaid expenses 9,719 11,045 Accrued interest receivable 3,537 8,752 Other 10,702 8,465 Total $ 89,955 $ 42,742
Schedule of Other Assets, Noncurrent [Table Text Block]	March 31, December 31, 2023 2022 Prepaid wafer purchase $ 120,000 $ 170,000 Deferred compensation plan assets 67,765 63,022 Other 19,802 16,264 Total $ 207,567 $ 249,286
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2023 2022 Dividends and dividend equivalents $ 54,656 $ 42,170 Warranty 19,726 24,082 Stock rotation and sales returns 30,155 14,931 Income tax payable 32,338 15,595 Other 19,086 16,901 Total $ 155,961 $ 113,679
Other Noncurrent Liabilities [Table Text Block]	March 31, December 31, 2023 2022 Deferred compensation plan liabilities $ 65,678 $ 64,863 Dividend equivalents 6,765 6,847 Other 5,204 1,664 Total $ 77,647 $ 73,374

Note 5 - Leases (Tables)

Note 5 - Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Lessee, Operating Lease, Balance Sheet Information [Table Text Block]	March 31, December 31, Financial Statement Line Item 2023 2022 Operating lease ROU assets Other long-term assets $ 7,820 $ 4,288 Operating lease liabilities Other accrued liabilities $ 2,018 $ 2,133 Other long-term liabilities $ 5,203 $ 1,664
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2023 2022 Lease costs: Operating lease costs $ 716 $ 729 Other 538 367 Total lease costs $ 1,254 $ 1,096 Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 864 $ 932 ROU assets obtained in exchange for new operating lease liabilities $ 4,545 $ 1,010 March 31, December 31, 2023 2022 Weighted-average remaining lease term (in years) 5.3 2.1 Weighted-average discount rate 3.4 % 2.1 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	2023 (remaining nine months) $ 1,756 2024 1,591 2025 1,190 2026 921 2027 929 Thereafter 1,509 Total remaining lease payments 7,896 Less: imputed interest (675 ) Total lease liabilities $ 7,221
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	2023 (remaining nine months) $ 1,112 2024 613 2025 107 2026 20 Total $ 1,852

Note 6 - Net Income Per Share (

Note 6 - Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2023 2022 Numerator: Net income $ 109,802 $ 79,566 Denominator: Weighted-average outstanding shares - basic 47,234 46,424 Effect of dilutive securities 1,421 1,826 Weighted-average outstanding shares - diluted 48,655 48,250 Net income per share: Basic $ 2.32 $ 1.71 Diluted $ 2.26 $ 1.65

Note 7 - Segment, Significant_2

Note 7 - Segment, Significant Customers and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Three Months Ended March 31, Customer 2023 2022 Distributor A 20 % 24 % Distributor B 21 % 18 % Distributor C * 11 % March 31, December 31, Customer 2023 2022 Distributor A 22 % 29 % Distributor B 23 % 23 %
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three Months Ended March 31, Country or Region 2023 2022 China $ 225,052 $ 206,079 Taiwan 48,833 56,437 South Korea 45,680 40,373 Europe 43,103 25,215 United States 31,017 13,446 Japan 30,815 19,155 Southeast Asia 26,432 16,889 Other 133 120 Total $ 451,065 $ 377,714
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended March 31, Product Family 2023 2022 Direct Current (“DC”) to DC $ 425,181 $ 358,849 Lighting Control 25,884 18,865 Total $ 451,065 $ 377,714
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	March 31, December 31, Country 2023 2022 China $ 196,790 $ 200,508 United States 115,363 113,996 Taiwan 19,812 20,074 Other 22,348 22,579 Total $ 354,313 $ 357,157

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended March 31, 2023 2022 Balance at beginning of period $ 24,082 $ 20,989 Warranties issued 362 - Repairs, replacement and refund (672 ) (1,380 ) Changes in liability for pre-existing warranties (4,046 ) 4,224 Balance at end of period $ 19,726 $ 23,833 Changes in liability for pre-existing warranties result from changes in estimates for warranties issued in prior periods.
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	2023 (remaining nine months) $ 337,545 2024 337,537 2025 353,952 Total $ 1,029,034

Note 9 - Cash, Cash Equivalen_2

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, December 31, 2023 2022 Cash $ 447,746 $ 273,145 Money market funds 41,226 15,462 Certificates of deposit 131,042 130,467 Corporate debt securities 244,155 292,586 Commercial paper 18,163 17,928 U.S. treasuries and government agency bonds 35,238 8,285 Auction-rate securities backed by student-loan notes 1,516 1,711 Total $ 919,086 $ 739,584 March 31, December 31, 2023 2022 Reported as: Cash and cash equivalents $ 488,972 $ 288,607 Short-term investments 428,598 449,266 Investment within other long-term assets 1,516 1,711 Total $ 919,086 $ 739,584
Investments Classified by Contractual Maturity Date [Table Text Block]	Amortized Cost Fair Value Due in less than 1 year $ 252,449 $ 249,803 Due in 1 - 5 years 181,774 178,795 Due in greater than 5 years 1,571 1,516 Total $ 435,794 $ 430,114
Unrealized Gain (Loss) on Investments [Table Text Block]	March 31, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Money market funds $ 41,226 $ - $ - $ 41,226 Certificates of deposit 131,042 - - 131,042 Corporate debt securities 249,743 39 (5,627 ) 244,155 Commercial paper 18,163 - - 18,163 U.S. treasuries and government agency bonds 35,276 83 (121 ) 35,238 Auction-rate securities backed by student-loan notes 1,570 - (54 ) 1,516 Total $ 477,020 $ 122 $ (5,802 ) $ 471,340 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Money market funds $ 15,462 $ - $ - $ 15,462 Certificates of deposit 130,467 - - 130,467 Corporate debt securities 300,529 18 (7,961 ) 292,586 Commercial paper 17,928 - - 17,928 U.S. treasuries and government agency bonds 8,487 - (202 ) 8,285 Auction-rate securities backed by student-loan notes 1,770 - (59 ) 1,711 Total $ 474,643 $ 18 $ (8,222 ) $ 466,439
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]	March 31, 2023 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 18,084 $ (68 ) $ 212,767 $ (5,559 ) $ 230,851 $ (5,627 ) U.S. treasuries and government agency bonds 2,878 (5 ) 7,383 (116 ) 10,261 (121 ) Auction-rate securities backed by student-loan notes - - 1,516 (54 ) 1,516 (54 ) Total $ 20,962 $ (73 ) $ 221,666 $ (5,729 ) $ 242,628 $ (5,802 ) December 31, 2022 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 72,943 $ (973 ) $ 202,074 $ (6,988 ) $ 275,017 $ (7,961 ) U.S. treasuries and government agency bonds 987 (2 ) 7,298 (200 ) 8,285 (202 ) Auction-rate securities backed by student-loan notes - - 1,711 (59 ) 1,711 (59 ) Total $ 73,930 $ (975 ) $ 211,083 $ (7,247 ) $ 285,013 $ (8,222 )
Restrictions on Cash and Cash Equivalents [Table Text Block]	March 31, December 31, 2023 2022 Cash and cash equivalents $ 488,972 $ 288,607 Restricted cash included in other long-term assets 123 122 Total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Statements of Cash Flows $ 489,095 $ 288,729

Note 10 - Fair Value Measurem_2

Note 10 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	March 31, 2023 Total Level 1 Level 2 Level 3 Money market funds $ 41,226 $ 41,226 $ - $ - Certificates of deposit 131,042 - 131,042 - Corporate debt securities 244,155 - 244,155 - Commercial paper 18,163 - 18,163 U.S. treasuries and government agency bonds 35,238 - 35,238 - Auction-rate securities backed by student-loan notes 1,516 - - 1,516 Mutual funds and money market funds under deferred compensation plan 47,114 47,114 - - Total $ 518,454 $ 88,340 $ 428,598 $ 1,516 December 31, 2022 Total Level 1 Level 2 Level 3 Money market funds $ 15,462 $ 15,462 $ - $ - Certificates of deposit 130,467 - 130,467 - Corporate debt securities 292,586 - 292,586 - Commercial paper 17,928 - 17,928 - U.S. treasuries and government agency bonds 8,285 - 8,285 - Auction-rate securities backed by student-loan notes 1,711 - - 1,711 Mutual funds and money market funds under deferred compensation plan 43,933 43,933 - - Total $ 510,372 $ 59,395 $ 449,266 $ 1,711

Note 11 - Deferred Compensati_2

Note 11 - Deferred Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block]	March 31, December 31, 2023 2022 Deferred compensation plan asset components: Cash surrender value of corporate-owned life insurance policies $ 20,651 $ 19,089 Fair value of mutual funds and money market funds 47,114 43,933 Total $ 67,765 $ 63,022 Deferred compensation plan assets reported in: Other long-term assets $ 67,765 $ 63,022 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 4,191 $ 118 Other long-term liabilities 65,678 64,863 Total $ 69,869 $ 64,981

Note 12 - Other Income (Expen_2

Note 12 - Other Income (Expense), Net (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Three Months Ended March 31, 2023 2022 Interest income $ 4,808 $ 3,461 Amortization of premium on available-for-sale securities (260 ) (1,348 ) Gain (loss) on deferred compensation plan investments 2,534 (2,192 ) Charitable contributions (2,000 ) (500 ) Other 215 (55 ) Total $ 5,297 $ (634 )

Note 14 - Accumulated Other C_2

Note 14 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Unrealized Gains (Losses) on Available-for- Sale Securities Foreign Currency Translation Adjustments Total Balance as of January 1, 2023 $ (7,727 ) $ (15,350 ) $ (23,077 ) Other comprehensive income before reclassifications 2,524 2,919 5,443 Tax effect (311 ) - (311 ) Net current period other comprehensive income 2,213 2,919 5,132 Balance as of March 31, 2023 $ (5,514 ) $ (12,431 ) $ (17,945 )

Note 15 - Dividends and Divid_2

Note 15 - Dividends and Dividend Equivalents (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Dividends Declared [Table Text Block]	Three Months Ended March 31, 2023 2022 Dividend declared per share $ 1.00 $ 0.75 Total amount $ 47,330 $ 34,908

Note 2 - Revenue Recognition (D

Note 2 - Revenue Recognition (Details Textual) - USD ($)	3 Months Ended			12 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Lapse Period for Consignment (Day)		60 days
Accounts Receivable, after Allowance for Credit Loss, Current	$ 184,274,000	$ 184,274,000		$ 182,714,000
Contract with Customer, Liability, Revenue Recognized	3,200,000
Minimum [Member]
Contract with Customer, Payment Term (Day)				30 days
Maximum [Member]
Contract with Customer, Payment Term (Day)				90 days
Certain Customers in China [Member]
Contract with Customer, Payment Term Required Prior to Shipping Products (Week)				14 days
Certain Customers in China [Member] | Accrued Liabilities, Current [Member]
Contract with Customer, Liability, Current	$ 3.6	$ 3.6		$ 3,600,000
Product [Member]
Percentage of Revenue		99%		98%
Product Sales Through Distribution Arrangements [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Percentage		81%	82%

Note 3 - Stock-based Compensa_3

Note 3 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended
	Jun. 11, 2020	Feb. 28, 2022	Mar. 31, 2023	Mar. 31, 2022	Nov. 13, 2014
Share Price (in dollars per share)			$ 500.54
Proceeds, Issuance of Shares, Share-Based Payment Arrangement, Excluding Option Exercised			$ 1,110	$ 2,318
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			273,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 450.13
Proceeds from Stock Plans			$ 3,737	2,786
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested			141,600	151,700
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding			1,300,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 308,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			3 years
Proceeds, Issuance of Shares, Share-Based Payment Arrangement, Excluding Option Exercised			$ 1,100	$ 2,300
Time-Based RSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			27,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 467.62
Time-Based RSUs [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			4 years
Time-Based RSUs [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			1 year
PSU2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Price Per Share Payable Upon Vesting of Equity Instruments Other than Options (in dollars per share)			$ 30
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 467.62
Total number of performance conditions			4
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate			51%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			3.90%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.90%
PSU2023 [Member] | Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			69,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Maximum Percentage Allowed		300%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Minimum Percentage Allowed			200%
Maximum Stock Compensation Costs			$ 156,200
PSU2023 [Member] | Executive Officer [Member] | Vesting First Quarter of 2025 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50%
PSU2023 [Member] | Non-Executive Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			13,000
Maximum Stock Compensation Costs			$ 14,200
PSU2023 [Member] | Non-Executive Employees [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Minimum Percentage Allowed			200%
PSU2023 [Member] | Non-Executive Employees [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Minimum Percentage Allowed			300%
The2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					5,500,000
Amended and Restated 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	10,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			4,200,000
The 2004 Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			4,500,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 1,100
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)			9,000	7,000
Employee Stock Purchase Plan Shares Issued, Intrinsic Value			$ 700
Proceeds from Stock Plans			$ 3,700	$ 2,800

Note 3 - Stock-based Compensa_4

Note 3 - Stock-based Compensation - Stock-based Compensation Plan Expenses (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Share based compensation expense		$ 37,009	$ 39,811
Tax benefit related to stock-based compensation	[1]	423	573
Cost of Sales [Member]
Share based compensation expense		1,147	1,307
Research and Development Expense [Member]
Share based compensation expense		8,614	8,401
Selling, General and Administrative Expenses [Member]
Share based compensation expense		$ 27,248	$ 30,103
[1]Amount reflects the tax benefit related to stock-based compensation recorded for equity awards that are expected to generate tax deductions when they vest in future periods. Equity awards granted to the Company’s executive officers are subject to the tax deduction limitations set by Section 162(m) of the Internal Revenue Code.

Note 3 - Stock-based Compensa_5

Note 3 - Stock-based Compensation - RSU Summary (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Balance (in shares) | shares	2,659,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 176.50
Granted (in shares) | shares	273,000
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ / shares	$ 450.13
Vested (in shares) | shares	(295,000)
Weighted-Average Grant Date Fair Value Per Share, vested (in dollars per share) | $ / shares	$ 217.47
Forfeited (in shares) | shares	(9,000)
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ / shares	$ 225.18
Balance (in shares) | shares	2,628,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 200.37
Time-Based RSUs [Member]
Balance (in shares) | shares	106,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 327.13
Granted (in shares) | shares	27,000
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ / shares	$ 467.62
Vested (in shares) | shares	(16,000)
Weighted-Average Grant Date Fair Value Per Share, vested (in dollars per share) | $ / shares	$ 279.89
Forfeited (in shares) | shares	(2,000)
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ / shares	$ 361.26
Balance (in shares) | shares	115,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 365.93
PSUs and MPSUs [Member]
Balance (in shares) | shares	748,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 275.70
Granted (in shares) | shares	246,000	[1]
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ / shares	$ 449.22
Vested (in shares) | shares	(198,000)
Weighted-Average Grant Date Fair Value Per Share, vested (in dollars per share) | $ / shares	$ 291.65
Forfeited (in shares) | shares	(2,000)
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ / shares	$ 285.23
Balance (in shares) | shares	794,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 326.02
MSUs [Member]
Balance (in shares) | shares	1,805,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 126.57
Granted (in shares) | shares	0
Weighted-Average Grant Date Fair Value Per Share, granted (in dollars per share) | $ / shares	$ 0
Vested (in shares) | shares	(81,000)
Weighted-Average Grant Date Fair Value Per Share, vested (in dollars per share) | $ / shares	$ 23.57
Forfeited (in shares) | shares	(5,000)
Weighted-Average Grant Date Fair Value Per Share, forfeited (in dollars per share) | $ / shares	$ 139.15
Balance (in shares) | shares	1,719,000
Weighted-Average Grant Date Fair Value Per Share, ending balance (in dollars per share) | $ / shares	$ 131.39
[1]Amount reflects the number of awards that may ultimately be earned based on management's probability assessment of the achievement of performance conditions at each reporting period.

Note 3 - Stock-based Compensa_6

Note 3 - Stock-based Compensation - Valuation Assumptions (Details) - 2004 Employee Stock Plan [Member] - Employee Stock Purchase Plan [Member]	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Expected term (Year)	6 months	6 months
Expected volatility	55.80%	38.10%
Risk-free interest rate	5%	0.70%
Dividend yield	0.80%	0.60%

Note 4 - Balance Sheet Compon_3

Note 4 - Balance Sheet Components (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Prepaid Wafer Purchase	$ 50,000	$ 50,000	$ 0
Inventory, Stock Rotation Reserve	$ 26,400		$ 14,300

Note 4 - Balance Sheet Compon_4

Note 4 - Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Raw materials	$ 131,367	$ 126,760
Work in process	126,417	134,071
Finished goods	173,046	186,459
Total	$ 430,830	$ 447,290

Note 4 - Balance Sheet Compon_5

Note 4 - Balance Sheet Components - Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Prepaid wafer purchase	$ 50,000	$ 50,000	$ 0
RSU tax withholding proceeds receivable	15,997		14,480
Prepaid expenses	9,719		11,045
Accrued interest receivable	3,537		8,752
Other	10,702		8,465
Total	$ 89,955		$ 42,742

Note 4 - Balance Sheet Compon_6

Note 4 - Balance Sheet Components - Other Long-term Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Prepaid wafer purchase	$ 120,000	$ 170,000
Deferred compensation plan assets	67,765	63,022
Other	19,802	16,264
Total	$ 207,567	$ 249,286

Note 4 - Balance Sheet Compon_7

Note 4 - Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Dividends and dividend equivalents	$ 54,656	$ 42,170
Warranty	19,726	24,082
Stock rotation and sales returns	30,155	14,931
Income tax payable	32,338	15,595
Other	19,086	16,901
Total	$ 155,961	$ 113,679

Note 4 - Balance Sheet Compon_8

Note 4 - Balance Sheet Components - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deferred compensation plan liabilities	$ 65,678	$ 64,863
Dividend equivalents	6,765	6,847
Other	5,204	1,664
Total	$ 77,647	$ 73,374

Note 5 - Leases (Details Textua

Note 5 - Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lessee, Operating Lease, Lease Not yet Commenced, Future Lease Obligations	$ 0
Operating Lease, Lease Income, Lease Payments	$ 500	$ 600
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year
Lessor, Operating Lease, Remaining Lease Term (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	8 years
Lessee, Operating Lease, Renewal Term (Year)	2 years
Lessor, Operating Lease, Remaining Lease Term (Year)	3 years
Lessor, Operating Lease, Renewal Term (Year)	5 years

Note 5 - Leases - Balance Sheet

Note 5 - Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other Long-term Assets [Member]
Operating lease ROU assets	$ 7,820	$ 4,288
Other Accrued Liabilities [Member]
Operating lease liabilities	2,018	2,133
Other Long-term Liabilities [Member]
Operating Lease, Liability, Noncurrent	$ 5,203	$ 1,664

Note 5 - Leases - Leases Cost (

Note 5 - Leases - Leases Cost (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Operating lease costs	$ 716	$ 729
Other	538	367
Total lease costs	1,254	1,096
Operating cash flows for operating leases	864	932
ROU assets obtained in exchange for new operating lease liabilities	$ 4,545	$ 1,010
Weighted-average remaining lease term (in years) (Year)	5 years 3 months 18 days	2 years 1 month 6 days
Weighted-average discount rate	3.40%	2.10%

Note 5 - Leases - Maturities of

Note 5 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
2023 (remaining nine months)	$ 1,756
2024	1,591
2025	1,190
2026	921
2027	929
Thereafter	1,509
Total remaining lease payments	7,896
Less: imputed interest	(675)
Accrued Liabilities and Other Long-term Liabilities [Member]
Total lease liabilities	$ 7,221

Note 5 - Leases - Maturities _2

Note 5 - Leases - Maturities of Income Related to Lease Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
2023 (remaining nine months)	$ 1,112
2024	613
2025	107
2026	20
Total	$ 1,852

Note 6 - Net Income Per Share -

Note 6 - Net Income Per Share - Net Income Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 109,802	$ 79,566
Weighted-average outstanding shares - basic (in shares)	47,234	46,424
Effect of dilutive securities (in shares)	1,421	1,826
Weighted-average outstanding shares - diluted (in shares)	48,655	48,250
Earnings per share, basic (in dollars per share)	$ 2.32	$ 1.71
Earnings per share, diluted (in dollars per share)	$ 2.26	$ 1.65

Note 7 - Segment, Significant_3

Note 7 - Segment, Significant Customers and Geographic Information (Details Textual)	3 Months Ended
	Mar. 31, 2023
Number of Reportable Segments	1

Note 7 - Segment, Significant_4

Note 7 - Segment, Significant Customers and Geographic Information - Customers with Sales and Accounts Receivable Greater Than 10% (Details) - Customer Concentration Risk [Member]	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue Benchmark [Member] | Distributor A [Member]
Concentration risk	20%	24%
Revenue Benchmark [Member] | Distributor B [Member]
Concentration risk	21%	18%
Revenue Benchmark [Member] | Distributor C [Member]
Concentration risk		11%
Accounts Receivable [Member] | Distributor A [Member]
Concentration risk	22%		29%
Accounts Receivable [Member] | Distributor B [Member]
Concentration risk	23%		23%

Note 7 - Segment and Geographic

Note 7 - Segment and Geographic Information - Revenue By Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 451,065	$ 377,714
CHINA
Revenue	225,052	206,079
TAIWAN
Revenue	48,833	56,437
KOREA, REPUBLIC OF
Revenue	45,680	40,373
Europe [Member]
Revenue	43,103	25,215
UNITED STATES
Revenue	31,017	13,446
JAPAN
Revenue	30,815	19,155
South East Asia [Member]
Revenue	26,432	16,889
Other Region [Member]
Revenue	$ 133	$ 120

Note 7 - Segment, Significant_5

Note 7 - Segment, Significant Customers and Geographic Information - Revenue By Product Family (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 451,065	$ 377,714
DC To DC Products [Member]
Revenue	425,181	358,849
Lighting Control Products [Member]
Revenue	$ 25,884	$ 18,865

Note 7 - Segment and Geograph_2

Note 7 - Segment and Geographic Information - Long Lived Assets By Geographic Region (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Long lived assets by region	$ 354,313	$ 357,157
CHINA
Long lived assets by region	196,790	200,508
UNITED STATES
Long lived assets by region	115,363	113,996
TAIWAN
Long lived assets by region	19,812	20,074
Other Region [Member]
Long lived assets by region	$ 22,348	$ 22,579

Note 8 - Commitments and Cont_3

Note 8 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Purchase Obligation, Total	$ 1,029,034
Prepaid Wafer Purchase	$ 50,000	$ 50,000	$ 0
Long-term Supply Agreement [Member]
Purchase Obligation, Total			$ 170,000
Minimum [Member]
Warranty Term (Year)	1 year
Maximum [Member]
Warranty Term (Year)	2 years

Note 8 - Commitments and Cont_4

Note 8 - Commitments and Contingencies - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Balance	$ 24,082	$ 20,989
Warranties issued	362	0
Repairs, replacement and refund	(672)	(1,380)
Changes in liability for pre-existing warranties	(4,046)	4,224
Balance	$ 19,726	$ 23,833

Note 8 - Commitments and Cont_5

Note 8 - Commitments and Contingencies - Estimated Future Unconditional Purchase Commitments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
2023 (remaining nine months)	$ 337,545
2024	337,537
2025	353,952
Total	$ 1,029,034

Note 9 - Cash, Cash Equivalen_3

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Apr. 01, 2022
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total	$ 0	$ 0
Redemption, Auction Rate Securities to Date	$ 41,700
Percentage of Auction Rate Securities Redeemed at Par Value	96%
Equity Securities without Readily Determinable Fair Value, Amount	$ 5,800	$ 5,400	$ 2,000

Note 9 - Cash, Cash Equivalen_4

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash - Cash, Cash Equivalents, Short-term and Long-term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Cash	$ 447,746	$ 273,145
Money market funds	41,226	15,462
Certificates of deposit	131,042	130,467
Commercial paper	18,163	17,928
U.S. treasuries and government agency bonds	35,238	8,285
Total	919,086	739,584
Cash and cash equivalents	488,972	288,607
Short-term investments	428,598	449,266
Investment within other long-term assets	1,516	1,711
Corporate Debt Securities [Member]
Available-for-sale securities	244,155	292,586
Auction Rate Securities [Member]
Available-for-sale securities	$ 1,516	$ 1,711

Note 9 - Cash, Cash Equivalen_5

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash - Investment Maturity Classification (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Due in less than 1 year, Amortized cost	$ 252,449
Due in less than 1 year, fair value	249,803
Due in 1 - 5 years, Amortized cost	181,774
Due in 1 - 5 years, fair value	178,795
Due in greater than 5 years, Amortized cost	1,571
Due in greater than 5 years, fair value	1,516
Total, Amortized cost	435,794
Total, fair value	$ 430,114

Note 9 - Cash, Cash Equivalen_6

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash - Unrealized Gains and Losses on Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost	$ 477,020	$ 474,643
Unrealized Gains	122	18
Unrealized Losses	(5,802)	(8,222)
Total Fair Value	471,340	466,439
Total Fair Value	471,340	466,439
Money Market Funds [Member]
Amortized Cost	41,226	15,462
Unrealized Gains	0	0
Unrealized Losses	0	0
Total Fair Value	41,226	15,462
Total Fair Value	41,226	15,462
Certificates of Deposit [Member]
Amortized Cost	131,042	130,467
Unrealized Gains	0	0
Unrealized Losses	0	0
Total Fair Value	131,042	130,467
Total Fair Value	131,042	130,467
Corporate Debt Securities [Member]
Amortized Cost	249,743	300,529
Unrealized Gains	39	18
Unrealized Losses	(5,627)	(7,961)
Total Fair Value	244,155	292,586
Total Fair Value	244,155	292,586
Commercial Paper [Member]
Amortized Cost	18,163	17,928
Unrealized Gains	0	0
Unrealized Losses	0	0
Total Fair Value	18,163	17,928
Total Fair Value	18,163	17,928
US Government Agencies Short-Term Debt Securities [Member]
Amortized Cost	35,276	8,487
Unrealized Gains	83	0
Unrealized Losses	(121)	(202)
Total Fair Value	35,238	8,285
Total Fair Value	35,238	8,285
Auction Rate Securities [Member]
Amortized Cost	1,570	1,770
Unrealized Gains	0	0
Unrealized Losses	(54)	(59)
Total Fair Value	1,516	1,711
Total Fair Value	$ 1,516	$ 1,711

Note 9 - Cash, Cash Equivalen_7

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash - Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Continuous Unrealized Loss Position, Less than 12 Months	$ 20,962	$ 73,930
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(73)	(975)
Continuous Unrealized Loss Position, 12 Months or Longer	221,666	211,083
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(5,729)	(7,247)
Unrealized Loss Position, Total	242,628	285,013
Unrealized Loss Position, Accumulated Loss, Total	(5,802)	(8,222)
Corporate Debt Securities [Member]
Continuous Unrealized Loss Position, Less than 12 Months	18,084	72,943
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(68)	(973)
Continuous Unrealized Loss Position, 12 Months or Longer	212,767	202,074
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(5,559)	(6,988)
Unrealized Loss Position, Total	230,851	275,017
Unrealized Loss Position, Accumulated Loss, Total	(5,627)	(7,961)
US Treasury and Government Short-Term Debt Securities [Member]
Continuous Unrealized Loss Position, Less than 12 Months	2,878
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(5)
Continuous Unrealized Loss Position, 12 Months or Longer	7,383
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(116)
Unrealized Loss Position, Total	10,261
Unrealized Loss Position, Accumulated Loss, Total	(121)
US Government Agencies Short-Term Debt Securities [Member]
Continuous Unrealized Loss Position, Less than 12 Months		987
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss		(2)
Continuous Unrealized Loss Position, 12 Months or Longer		7,298
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		(200)
Unrealized Loss Position, Total		8,285
Unrealized Loss Position, Accumulated Loss, Total		(202)
Auction Rate Securities [Member]
Continuous Unrealized Loss Position, Less than 12 Months	0	0
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Continuous Unrealized Loss Position, 12 Months or Longer	1,516	1,711
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(54)	(59)
Unrealized Loss Position, Total	1,516	1,711
Unrealized Loss Position, Accumulated Loss, Total	$ (54)	$ (59)

Note 9 - Cash, Cash Equivalen_8

Note 9 - Cash, Cash Equivalents, Investments and Restricted Cash - Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 488,972	$ 288,607
Restricted cash included in other long-term assets	123	122
Total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Statements of Cash Flows	$ 489,095	$ 288,729	$ 260,726	$ 189,389

Note 10 - Fair Value Measurem_3

Note 10 - Fair Value Measurements - Financial Assets and Liabilities, Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Total Fair Value	$ 471,340	$ 466,439
Assets, fair value	518,454	510,372
Fair Value, Inputs, Level 1 [Member]
Assets, fair value	88,340	59,395
Fair Value, Inputs, Level 2 [Member]
Assets, fair value	428,598	449,266
Fair Value, Inputs, Level 3 [Member]
Assets, fair value	1,516	1,711
Money Market Funds [Member]
Total Fair Value	41,226	15,462
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	41,226	15,462
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	0	0
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value	0	0
Certificates of Deposit [Member]
Total Fair Value	131,042	130,467
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	0	0
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	131,042	130,467
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value	0	0
Corporate Debt Securities [Member]
Total Fair Value	244,155	292,586
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	244,155	292,586
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value	0	0
Commercial Paper [Member]
Total Fair Value	18,163	17,928
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	0	0
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	18,163	17,928
Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value		0
US Government Agencies Short-Term Debt Securities [Member]
Total Fair Value	35,238	8,285
US Government Agencies Short-Term Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	0	0
US Government Agencies Short-Term Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	35,238	8,285
US Government Agencies Short-Term Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value	0	0
Auction Rate Securities [Member]
Total Fair Value	1,516	1,711
Auction Rate Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	0	0
Auction Rate Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	0	0
Auction Rate Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value	1,516	1,711
Mutual Fund [Member]
Total Fair Value	47,114	43,933
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member]
Total Fair Value	47,114	43,933
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member]
Total Fair Value	0	0
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member]
Total Fair Value	$ 0	$ 0

Note 11 - Deferred Compensati_3

Note 11 - Deferred Compensation Plan - Summary of Deferred Compensation Plan (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deferred compensation plan assets	$ 67,765	$ 63,022
Deferred compensation plan liabilities	69,869	64,981
Other Long-term Assets [Member]
Deferred compensation plan assets	67,765	63,022
Accrued Compensation and Related Benefits [Member]
Deferred compensation plan liabilities	4,191	118
Other Long-term Liabilities [Member]
Deferred compensation plan liabilities	65,678	64,863
Cash Surrender Value [Member]
Deferred compensation plan assets	20,651	19,089
Mutual Funds and Money Market Funds, Fair Value [Member]
Deferred compensation plan assets	$ 47,114	$ 43,933

Note 12 - Other Income (Expen_3

Note 12 - Other Income (Expense), Net - Interest and Other Income Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income	$ 4,808	$ 3,461
Amortization of premium on available-for-sale securities	(260)	(1,348)
Gain (loss) on deferred compensation plan investments	2,534	(2,192)
Charitable contributions	(2,000)	(500)
Other	215	(55)
Total	$ 5,297	$ (634)

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Expense (Benefit)	$ 19,771	$ 15,934
Effective Income Tax Rate Reconciliation, Percent	15.30%	16.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%

Note 14 - Accumulated Other C_3

Note 14 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Balance	$ 1,668,602
Balance	1,776,261
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance	(7,727)
Other comprehensive income before reclassifications	2,524
Tax effect	(311)
Net current period other comprehensive income	2,213
Balance	(5,514)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(15,350)
Other comprehensive income before reclassifications	2,919
Tax effect	0
Net current period other comprehensive income	2,919
Balance	(12,431)
AOCI Attributable to Parent [Member]
Balance	(23,077)
Other comprehensive income before reclassifications	5,443
Tax effect	(311)
Net current period other comprehensive income	5,132
Balance	$ (17,945)

Note 15 - Dividends and Divid_3

Note 15 - Dividends and Dividend Equivalents (Details Textual) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Dividends Payable, Current	$ 47.3	$ 35.3
Accrued Dividend Equivalents	$ 14.1	$ 13.8

Note 15 - Dividends and Divid_4

Note 15 - Dividends and Dividend Equivalents - Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Dividend declared per share (in dollars per share)	$ 1	$ 0.75
Total amount	$ 47,330	$ 34,908