Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Jan. 29, 2019 | Jun. 30, 2018 | |
Entity Information [Line Items] | |||
Entity Registrant Name | MAXLINEAR INC | ||
Trading Symbol | MXL | ||
Entity Central Index Key | 1,288,469 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Common Stock, Shares Outstanding | 69,557,325 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 895.5 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 73,142 | $ 71,872 |
Short-term restricted cash | 645 | 1,476 |
Accounts receivable, net | 59,491 | 66,099 |
Inventory | 41,738 | 53,434 |
Prepaid expenses and other current assets | 5,595 | 8,423 |
Total current assets | 180,611 | 201,304 |
Long-term restricted cash | 404 | 1,064 |
Property and equipment, net | 18,404 | 22,658 |
Intangible assets, net | 244,900 | 315,045 |
Goodwill | 238,330 | 237,992 |
Deferred tax assets | 51,518 | 39,878 |
Other long-term assets | 4,664 | 6,921 |
Total assets | 738,831 | 824,862 |
Current liabilities: | ||
Accounts payable | 15,588 | 16,939 |
Deferred revenue and deferred profit | 0 | 4,362 |
Accrued price protection liability | 16,454 | 21,571 |
Accrued expenses and other current liabilities | 23,520 | 20,306 |
Accrued compensation | 15,005 | 13,208 |
Total current liabilities | 70,567 | 76,386 |
Deferred rent | 4,097 | 4,885 |
Long-term debt | 255,757 | 347,609 |
Other long-term liabilities | 8,474 | 8,558 |
Total liabilities | 338,895 | 437,438 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.0001 par value; 25,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $0.0001 par value; 550,000 shares authorized, 69,551 shares issued and outstanding at December 31, 2018 and 550,000 shares authorized, 67,400 shares issued and outstanding at December 31, 2017, respectively | 7 | 7 |
Additional paid-in capital | 493,287 | 455,497 |
Accumulated other comprehensive income | 272 | 1,039 |
Accumulated deficit | (93,630) | (69,119) |
Total stockholders’ equity | 399,936 | 387,424 |
Total liabilities and stockholders’ equity | $ 738,831 | $ 824,862 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares issued (shares) | 0 | 0 |
Preferred stock, shares outstanding (shares) | 0 | 0 |
Common stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (shares) | 550,000,000 | 550,000,000 |
Common stock, shares issued (shares) | 69,551,000 | 67,400,000 |
Common Stock, Shares, Outstanding | 69,551,000 | 67,400,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net revenue | $ 384,997 | $ 420,318 | $ 387,832 |
Cost of net revenue | 176,223 | 212,355 | 157,842 |
Gross profit | 208,774 | 207,963 | 229,990 |
Operating expenses: | |||
Research and development | 120,046 | 112,279 | 97,745 |
Selling, general and administrative | 101,789 | 105,831 | 64,454 |
Impairment losses | 2,198 | 2,000 | 1,300 |
Restructuring charges | 3,838 | 9,524 | 3,432 |
Total operating expenses | 227,871 | 229,634 | 166,931 |
Income (loss) from operations | (19,097) | (21,671) | 63,059 |
Interest income | 78 | 274 | 572 |
Interest Expense | (14,255) | (10,378) | (104) |
Other income (expense), net | 422 | (2,223) | 163 |
Nonoperating Income (Expense) | (13,755) | (12,327) | 631 |
Income (loss) before income taxes | (32,852) | (33,998) | 63,690 |
Income tax provision (benefit) | (6,653) | (24,811) | 2,398 |
Net income (loss) | $ (26,199) | $ (9,187) | $ 61,292 |
Net income (loss) per share: | |||
Basic (usd per share) | $ (0.38) | $ (0.14) | $ 0.96 |
Diluted (usd per share) | $ (0.38) | $ (0.14) | $ 0.91 |
Shares used to compute net income (loss) per share: | |||
Weighted Average Number of Shares Outstanding, Basic | 68,490 | 66,252 | 63,781 |
Diluted (shares) | 68,490 | 66,252 | 67,653 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ (26,199) | $ (9,187) | $ 61,292 |
Other comprehensive income (loss), net of tax | |||
Unrealized gain (loss) on investments, net of tax of $0 in 2018, $0 in 2017 and $27 in 2016 | 0 | (55) | 11 |
Less: Reclassification adjustments of unrealized loss, net of tax of $0 in 2018, 2017 and 2016 | 0 | 55 | 0 |
Unrealized gain on investments, net of tax | 0 | 0 | 11 |
Foreign currency translation adjustments, net of tax benefit of $200 in 2018, $202 in 2017, and $39 in 2016(1) | (1,572) | 2,122 | (749) |
Unrealized gain on interest rate swap, net of tax expense of $187 in 2018, tax expense of $257 in 2017, and $0 in 2016 | 702 | 477 | 0 |
Other comprehensive income (loss) | (870) | 2,599 | (738) |
Total comprehensive income (loss) | $ (27,069) | $ (6,588) | $ 60,554 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized gain(loss) on investments, net of tax of | $ 0 | $ 0 | $ 27 |
Foreign currency translation adjustments, net of tax benefit of | 200 | 202 | 39 |
Unrealized gain on interest rate swap, net of tax of | $ 187 | $ 257 | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders Equity Statement - USD ($) $ in Thousands | Total | Common Class A [Member] | Class B Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock [Member] | AOCI Attributable to Parent [Member] | Accumulated Deficit [Member] | Exar Corporation [Member]Additional Paid-in Capital [Member] |
Shares issued, beginning of period (in shares) at Dec. 31, 2015 | 55,737,000 | 6,665,000 | ||||||
Total stockholders’ equity, beginning of period at Dec. 31, 2015 | $ 262,924 | $ 5 | $ 1 | $ 384,961 | $ (822) | $ (121,221) | ||
Stock repurchased during period | (3) | (3) | ||||||
Conversion Of Class B Common Stock To Class Common Stock Shares | 3,000 | (3,000) | ||||||
Common Stock Issued Pursuant To Equity Awards Net Value | 2,840 | $ 1 | 2,839 | |||||
Common Stock Issued Pursuant To Equity Awards Net Shares | 2,344,000 | 6,000 | ||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 279,000 | |||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,134 | 4,134 | ||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 21,975 | 21,975 | ||||||
Other Comprehensive Income (Loss), Net of Tax | (738) | (738) | ||||||
Net income (loss) | 61,292 | 61,292 | ||||||
Total stockholders’ equity, end of period at Dec. 31, 2016 | 352,424 | $ 6 | $ 1 | 413,909 | (1,560) | (59,932) | ||
Shares issued, end of period (in shares) at Dec. 31, 2016 | 58,363,000 | 6,668,000 | ||||||
Stock Repurchased During Period, Shares | (13,000) | |||||||
Stock repurchased during period | (334) | (334) | ||||||
Conversion Of Class B Common Stock To Class Common Stock Shares | 163,000 | (163,000) | ||||||
Conversion of Stock, Shares Issued | (58,876,000) | (6,570,000) | 65,446,000 | |||||
Conversion of Stock, Amount Converted | $ (6) | $ (1) | $ 7 | |||||
Common Stock Issued Pursuant To Equity Awards Net Value | 398 | 398 | ||||||
Stock Assumed during Period, Value, Acquisitions | $ 4,613 | |||||||
Common Stock Issued Pursuant To Equity Awards Net Shares | 363,000 | 65,000 | 1,738,000 | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 216,000 | |||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,308 | 4,308 | ||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 32,603 | 32,603 | ||||||
Other Comprehensive Income (Loss), Net of Tax | 2,599 | 2,599 | ||||||
Net income (loss) | (9,187) | (9,187) | ||||||
Stock Issued During Period, Value, Acquisitions | 4,613 | |||||||
Total stockholders’ equity, end of period at Dec. 31, 2017 | 387,424 | 455,497 | $ 7 | 1,039 | (69,119) | |||
Shares issued, end of period (in shares) at Dec. 31, 2017 | 67,400,000 | |||||||
Common Stock Issued Pursuant To Equity Awards Net Value | 1,761 | 1,761 | ||||||
Common Stock Issued Pursuant To Equity Awards Net Shares | 0 | 0 | 1,875,000 | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 276,000 | |||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,452 | 4,452 | ||||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 31,734 | 31,734 | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 1,634 | (157) | 103 | 1,688 | ||||
Other Comprehensive Income (Loss), Net of Tax | (870) | (870) | ||||||
Net income (loss) | (26,199) | (26,199) | ||||||
Total stockholders’ equity, end of period at Dec. 31, 2018 | $ 399,936 | $ 493,287 | $ 7 | $ 272 | $ (93,630) | |||
Shares issued, end of period (in shares) at Dec. 31, 2018 | 69,551,000 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Activities | |||
Net income (loss) | $ (26,199) | $ (9,187) | $ 61,292 |
Adjustments to reconcile net income (loss) to cash provided by operating activities: | |||
Amortization and depreciation | 79,027 | 66,738 | 26,703 |
Impairment losses | 2,198 | 2,000 | 1,300 |
Provision for losses on accounts receivable | 0 | 133 | 87 |
Amortization (accretion) of investment premiums (discount), net | 0 | (60) | 169 |
Amortization of inventory step-up | 0 | 25,557 | 5,641 |
Amortization of debt issuance costs and discount | 1,148 | 763 | 0 |
Stock-based compensation | 31,721 | 32,668 | 21,765 |
Deferred income taxes | (12,144) | (31,767) | 101 |
Loss on disposal of property and equipment | 430 | 168 | 366 |
(Gain) loss on sale of available-for-sale securities | 0 | 38 | (50) |
Change in fair value of contingent consideration | 0 | 0 | 220 |
Impairment of lease and leasehold improvements | 735 | 0 | 388 |
(Gain) loss on foreign currency | (809) | 2,153 | (216) |
Excess tax benefits on stock-based awards | (2,028) | (8,559) | (8,291) |
Changes in operating assets and liabilities, net of acquisitions: | |||
Accounts receivable | 6,595 | (4,377) | (8,175) |
Inventory | 11,696 | (1,788) | 9,846 |
Prepaid expenses and other assets | 5,833 | 1,272 | 402 |
Accounts payable, accrued expenses and other current liabilities | 1,161 | (1,918) | 3,249 |
Accrued compensation | 8,961 | 1,567 | 5,609 |
Deferred revenue and deferred profit | (138) | (1,629) | 1,925 |
Accrued price protection liability | (5,117) | 6,395 | (4,850) |
Other long-term liabilities | (381) | (5,103) | (164) |
Net cash provided by operating activities | 102,689 | 75,064 | 117,317 |
Investing Activities | |||
Purchases of property and equipment | (7,825) | (7,468) | (8,512) |
Proceeds from sale of property and equipment | 0 | 30 | 0 |
Purchases of intangible assets | 0 | (5,378) | (390) |
Cash used in acquisitions, net of cash acquired | 0 | (473,304) | (101,000) |
Purchases of available-for-sale securities | 0 | (30,577) | (90,307) |
Maturities of available-for-sale securities | 0 | 84,546 | 98,896 |
Net cash used in investing activities | (7,825) | (432,151) | (101,313) |
Financing Activities | |||
Net proceeds from the issuance of debt | 0 | 416,846 | 0 |
Repayment of debt | (93,000) | (70,000) | 0 |
Repurchases of common stock | 0 | (334) | (3) |
Net proceeds from issuance of common stock | 6,839 | 12,052 | 6,649 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (7,623) | (11,543) | (7,316) |
Net cash provided by (used in) financing activities | (93,784) | 347,021 | (670) |
Effect of exchange rate changes on cash and cash equivalents | (1,301) | 1,582 | (394) |
Increase (decrease) in cash, cash equivalents and restricted cash | (221) | (8,484) | 14,940 |
Cash, cash equivalents and restricted cash at beginning of period | 74,412 | 82,896 | 67,956 |
Cash, cash equivalents and restricted cash at end of period | 74,191 | 74,412 | 82,896 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 13,957 | 8,843 | 0 |
Cash paid for income taxes | 5,426 | 9,435 | 1,583 |
Supplemental disclosures of non-cash investing and financing activities: | |||
Issuance of accrued share-based bonus plan | 6,997 | 3,314 | 7,649 |
Lease incentive for leasehold improvements | $ 0 | $ 0 | $ 61 |
Issuance of restricted stock units to Physpeed continuing employees | 0 | 818 | 1,061 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Summary of Significant Accounting Policies | Organization and Summary of Significant Accounting Policies Description of Business MaxLinear, Inc. was incorporated in Delaware in September 2003. MaxLinear, Inc., together with its wholly owned subsidiaries, collectively referred to as MaxLinear, or the Company, is a provider of radio-frequency, or RF, high-performance analog, and mixed-signal communications system-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear's customers include electronics distributors, module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company’s products in a wide range of electronic devices, including cable DOCSIS broadband modems and gateways, wireline connectivity devices for in-home networking applications, RF transceivers and modems for wireless carrier access and backhaul infrastructure, fiber-optic modules for data center, metro, and long-haul transport networks, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products used in these and a range of other markets. The Company is a fabless integrated circuit design company whose products integrate all or a substantial portion of a broadband communication system. Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of MaxLinear, Inc. and its wholly owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. All intercompany transactions and investments have been eliminated in consolidation. The functional currency of certain foreign subsidiaries is the local currency. Accordingly, assets and liabilities of these foreign subsidiaries are translated at the current exchange rate at the balance sheet date and historical rates for equity. Revenue and expense components are translated at weighted average exchange rates in effect during the period. Gains and losses resulting from foreign currency translation are included as a component of stockholders’ equity. Foreign currency transaction gains and losses are included in the results of operations, and to date, have not been material. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes of the consolidated financial statements. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are recorded at cost, which approximates market value. Accounts Receivable The Company performs ongoing credit evaluations of its customers and assesses each customer's credit worthiness. The Company monitors collections and payments from its customers and maintains an allowance for doubtful accounts based upon its historical experience, its anticipation of uncollectible accounts receivable and any specific customer collection issues that the Company has identified. As of December 31, 2018 and 2017 , the Company had an allowance for doubtful accounts of $0.05 million and $0.1 million , respectively. Inventory The Company assesses the recoverability of its inventory based on assumptions about demand and market conditions. Forecasted demand is determined based on historical sales and expected future sales. Inventory is stated at the lower of cost or net realizable value. Cost approximates actual cost on a first-in, first-out basis and net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company reduces its inventory to its lower of cost or net realizable value on a part-by-part basis to account for its obsolescence or lack of marketability. Reductions are calculated as the difference between the cost of inventory and its net realizable value based upon assumptions about future demand, market conditions and costs. Once established, these adjustments are considered permanent and are not revised until the related inventory is sold or disposed of. Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses and compensation are considered to be representative of their respective fair value because of the short-term nature of these accounts. The interest rate swap is carried at fair value. Property and Equipment Property and equipment is carried at cost and depreciated over the estimated useful lives of the assets, ranging from two to five years, using the straight-line method. Leasehold improvements are stated at cost and amortized over the shorter of the estimated useful lives of the assets or the lease term. Production Masks Production masks with alternative future uses or discernible future benefits are capitalized and amortized over their estimated useful life of two to five years. To determine if the production mask has alternative future uses or benefits, the Company evaluates risks associated with developing new technologies and capabilities, and the related risks associated with entering new markets. Production masks that do not meet the criteria for capitalization are expensed as research and development costs. Goodwill and Intangible Assets Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method. Intangible assets represent purchased intangible assets including developed technology, in-process research and development, or IPR&D, technologies acquired or licensed from other companies, customer relationships, non-compete covenants, backlog, and trademarks and tradenames. Purchased finite-lived intangible assets are capitalized and amortized over their estimated useful lives. Technologies acquired or licensed from other companies, customer relationships, non-compete covenants, backlog, and trademarks and tradenames are capitalized and amortized over the lesser of the terms of the agreement, or estimated useful life. The Company capitalizes IPR&D projects acquired as part of a business combination. On completion of each project, IPR&D assets are reclassified to developed technology and amortized over their estimated useful lives. Impairment of Goodwill and Long-Lived Assets Goodwill is not amortized but is tested for impairment using either a qualitative assessment, and/or the two-step method as needed. Step one is the identification of potential impairment. This involves comparing the fair value of each reporting unit, which the Company has determined to be the entity itself, with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds the carrying amount, the goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. The Company tests by reporting unit, goodwill and other indefinite-lived intangible assets for impairment as of October 31 each year or more frequently if it believes indicators of impairment exist. During development, IPR&D is not subject to amortization and is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company reviews indefinite-lived intangible assets for impairment using a qualitative assessment, followed by a quantitative assessment, as needed, each year as of October 31, the date of its annual goodwill impairment review, or whenever events or changes in circumstances indicate the carrying value may not be recoverable. Recoverability of indefinite-lived intangible assets is measured by comparing the carrying amount of the asset to its fair value. In certain cases, the Company utilizes the relief-from-royalty method when appropriate, and a fair value will be obtained based on analysis over the costs saved by owning the right instead of leasing it. Once an IPR&D project is complete, it becomes a finite-lived intangible asset and is evaluated for impairment both immediately prior to its change in classification and thereafter in accordance with the Company's policy for long-lived assets. The Company regularly reviews the carrying amount of its long-lived assets subject to depreciation and amortization, as well as the useful lives, to determine whether indicators of impairment may exist which warrant adjustments to carrying values or estimated useful lives. An impairment loss would be recognized when the sum of the expected future undiscounted net cash flows is less than the carrying amount of the asset. Should impairment exist, the impairment loss would be measured based on the excess of the carrying amount of the asset over the asset’s fair value. During the years 2018 , 2017 , and 2016 , the Company identified impairment of intangible assets of $2.2 million , $2.0 million and $1.3 million , respectively. Refer to Goodwill and Intangible Assets, Note 5 for more information. Revenue Recognition On January 1, 2018, the Company adopted Financial Accounting Standards Board, or FASB, Accounting Standards Codification Topic 606, Revenue from Contracts with Customers , or ASC 606, using the modified retrospective method and accordingly, modified its policy on revenue recognition as stated below. The primary impact of adopting ASC 606 for the Company was to accelerate the timing of the Company’s revenue and related cost recognition on products sold via some of its distributors, which changed from recognition upon the sale to the distributors' end customers, or the sell-through method, to recognition upon the Company's sale to the distributor, or the sell-in method. The Company is now also required to estimate the effects of pricing credits to its distributors from contractual price protection and unit rebate provisions, as well as stock rotation rights and record such estimated credits upon the Company's sale to the distributor. As a result of the adoption of ASC 606 as of January 1, 2018 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change in revenue recognition for such distributor sales. Substantially all of the Company's revenue is generated from sales of the Company’s integrated circuits to electronics distributors, module makers, OEMs, and ODMs under individual customer purchase orders, some of which have underlying master sales agreements that specify terms governing the product sales. Effective January 1, 2018, the Company adopted ASC 606 and recognizes revenue at the point in time when control of the products is transferred to the customer at the estimated net consideration for which collection is probable, taking into account the customer's rights to price protection, other pricing credits, unit rebates, and rights to return unsold product. Transfer of control occurs either when products are shipped to or received by the distributor or direct customer, based on the terms of the specific agreement with the customer, if the Company has a present right to payment and transfer of legal title and the risks and rewards of ownership to the customer has occurred. For most of the Company's product sales, transfer of control occurs upon shipment to the distributor or direct customer. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intention to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 days from the invoice date, which occurs on the date of transfer of control of the products to the customer. Since payment terms are less than a year, the Company has elected the practical expedient and does not assess whether a customer contract has a significant financing component. A five-step approach is applied in the recognition of revenue under ASC 606: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when the Company satisfies a performance obligation. The Company applied ASC 606 to its customer contracts that were not completed before the January 1, 2018 adoption date. Customer purchase orders plus the underlying master sales agreements are considered to be contracts with the customer for purposes of applying the five-step approach under ASC 606. Pricing adjustments and estimates of returns under contractual stock rotation rights are treated as variable consideration for purposes of determining the transaction price, and are estimated at the time control transfers using the expected value method based on the Company's analysis of actual price adjustment claims by distributors and historical product return rates, and then reassessed at the end of each reporting period. The Company also considers whether any variable consideration is constrained, since such amounts for which it is probable that a significant reversal will occur when the contingency is subsequently resolved are required to be excluded from revenues. Price adjustments are finalized at the time the products are sold through to the end customer and the distributor or end customer submits a claim to reduce the sale price to a pre-approved net price. Stock rotation allowances are capped at a fixed percentage of the Company's sales to a distributor for a period of time, up to six months, as specified in the individual distributor contract. If the Company's current estimates of such credits and rights are materially inaccurate, it may result in adjustments that affect future revenues and gross profits. Returns under the Company's general assurance warranty of products for a period of one to three years have not been material and warranty-related services are not considered a separate performance obligation under the customer contracts. Most of the Company's customers resell our product as part of their product and thus are tax-exempt; however, to the extent the Company collects and remits taxes on product sales from customers, it has elected to exclude from the measurement of transaction price such taxes. Each distinct promise to transfer products is considered to be an identified performance obligation for which revenue is recognized upon transfer of control of the products to the customer. Although customers may place orders for products to be delivered on multiple dates that may be in different quarterly reporting periods, all of the orders are scheduled within 1 year from the order date. The Company has opted to not disclose the portion of revenues allocated to partially unsatisfied performance obligations, which represent products to be shipped within 12 months under open customer purchase orders, at the end of the current reporting period as allowed under ASC 606. The Company has also elected to record sales commissions when incurred, pursuant to the practical expedient under ASC 340, as the period over which the sales commission asset that would have been recognized is less than one year. Customer contract liabilities consist of obligations to deliver rebates to customers in the form of units of products which are included in accrued expenses and other current liabilities in the consolidated balance sheets. Other obligations to customers consist of estimates of price protection rights offered to the Company's end customers, which are included in accrued price protection liability in the consolidated balance sheets, as well as price adjustments expected to be claimed by the distributor upon sell-through of the products to their customers, and amounts expected to be returned by distributors under stock rotation rights, which are included in accrued expenses and other current liabilities in the consolidated balance sheets. The Company also records a right of return asset, consisting of amounts representing the products the Company expects to receive from customers in returns, which is included in inventory in the consolidated balance sheets, and is typically settled within six months of transfer of control to the customer, or the period over which stock rotation rights are based. Upon lapse of the time period for stock rotations, or the contractual end to price protection and rebate programs, which is approximately one to two years, and when the Company believes unclaimed amounts are no longer subject to payment and will not be paid, any remaining asset or liability is derecognized by an offsetting entry to cost of net revenue and net revenue. For additional disclosures regarding contract liabilities and other obligations to customers, see Note 14 . The Company assesses customer accounts receivable and contract assets for impairment in accordance with ASC 310-10-35. The following tables present the amounts by which each financial statement line item was affected as a result of applying ASC 606: Year Ended December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands, except per share amounts) Consolidated statement of operations: Net revenue $ 370,033 $ 14,964 $ 384,997 Cost of net revenue 170,719 5,504 176,223 Gross profit 199,314 9,460 208,774 Loss from operations (28,557 ) 9,460 (19,097 ) Loss before income taxes (42,312 ) 9,460 (32,852 ) Income tax benefit (8,640 ) 1,987 (6,653 ) Net loss (33,672 ) 7,473 (26,199 ) Basic and diluted loss per share (0.49 ) 0.11 (0.38 ) December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands) Consolidated balance sheet: Accounts receivable $ 59,491 $ — $ 59,491 Inventory 41,470 268 41,738 Total current assets 180,343 268 180,611 Total assets 738,563 268 738,831 Deferred revenue and deferred profit 19,499 (19,499 ) — Accrued expenses and other current liabilities 12,860 10,660 23,520 Total current liabilities 79,406 (8,839 ) 70,567 Total liabilities 347,734 (8,839 ) 338,895 Accumulated deficit (102,737 ) 9,107 (93,630 ) Total stockholders' equity 390,829 9,107 399,936 Total liabilities and stockholders' equity 738,563 268 738,831 The impacts of adopting ASC 606 as shown above were primarily related to the acceleration of the timing of the Company’s revenue and related cost recognition on products sold via some of its distributors, which changed from sale to the distributors' end customers, or the sell-through method, to recognition upon the Company's sale to the distributor, or the sell-in method. Revenues from sales through the Company’s distributors accounted for 42% , 34% and 19% of net revenue for the years ended December 31, 2018 , 2017 and 2016 , respectively. Warranty The Company generally provides a warranty on its products for a period of one to three years. The Company makes estimates of product return rates and expected costs to replace the products under warranty at the time revenue is recognized based on historical warranty experience and any known product warranty issues. If actual return rates and/or replacement costs differ significantly from these estimates, adjustments to recognize additional cost of net revenue may be required in future periods. As of December 31, 2018 and 2017 , the Company has warranty reserves of $0.5 million and $0.9 million , respectively, based on the Company’s estimates. Segment Information The Company operates in one segment as it has developed, marketed and sold primarily only one class of similar products, radio-frequency, high-performance analog and mixed-signal communications system-on-chip solutions for the connected home, wired and wireless infrastructure markets and industrial and multi-market applications. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has one business activity and there are no segment managers who are held accountable for operations, operating results and plans for products or components below the consolidated unit level. Accordingly, the Company reports as a single operating segment. Stock-based Compensation The Company measures the cost of employee services received in exchange for equity incentive awards, including restricted stock units and restricted stock awards, employee stock purchase rights and stock options based on the grant date fair value of the award. The Company calculates the fair value of restricted stock units and restricted stock awards based on the fair market value of its common stock on the grant date. The Company uses the Black-Scholes valuation model to calculate the fair value of stock options and employee stock purchase rights granted to employees. Stock-based compensation expense is recognized over the period during which the employee is required to provide services in exchange for the award, which is usually the vesting period. The Company recognizes compensation expense over the vesting period using the straight-line method and classifies these amounts in the consolidated statements of operations based on the department to which the related employee reports. Research and Development Costs incurred in connection with the development of the Company’s technology and future products are charged to research and development expense as incurred. Derivatives and Hedging Activities The Company records derivatives in the consolidated balance sheets at fair value. Hedge accounting is applied to derivatives designated in a hedging relationship. A derivative designated as a hedge of a forecasted transaction is carried at fair value with the effective portion of a derivative’s gain or loss recorded in other comprehensive income (i.e., a separate component of stockholders’ equity) and subsequently recognized in earnings in the same period or periods the hedged forecasted transaction affects earnings. The ineffective portion of a derivative’s gain or loss is recorded in earnings as it occurs. Changes in certain terms of the hedged transactions, including the selection of interest rate from one-month LIBOR to another rate could cause ineffectiveness in the derivatives and result in reclassification of amounts in accumulated other comprehensive income (loss) into earnings. Income Taxes The Company provides for income taxes utilizing the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. Deferred taxes are presented net as noncurrent. The provision for income taxes generally represents income taxes paid or payable for the current year plus the change in deferred taxes during the year. Deferred taxes result from the differences between the financial and tax bases of the Company’s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when a judgment is made that is considered more likely than not that a tax benefit will not be realized. A decision to record a valuation allowance results in an increase in income tax expense or a decrease in income tax benefit. If the valuation allowance is released in a future period, income tax expense will be reduced accordingly. The calculation of tax liabilities involves dealing with uncertainties in the application of complex global tax regulations. The impact of an uncertain income tax position is recognized at the largest amount that is “more likely than not” to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. If the estimate of tax liabilities proves to be less than the ultimate assessment, a further charge to expense would result. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company continually assesses the need for a valuation allowance on the deferred tax asset by evaluating both positive and negative evidence that may exist. Any adjustment to the net deferred tax asset valuation allowance would be recorded in the income statement for the period that the adjustment is determined to be required. On December 22, 2017, the Tax Cuts and Jobs Act, or the Tax Act, was enacted into U.S. tax law. Also on December 22, 2017, the SEC issued guidance in Staff Accounting Bulletin No. 118, or SAB 118, to address certain fact patterns where the accounting for changes in tax laws or tax rates under ASC Topic 740 is incomplete upon issuance of an entity's financial statements for the reporting period in which the Tax Act is enacted. As permitted in SAB 118, in 2017, the Company took a measurement period approach and reported certain provisional amounts, based on reasonable estimates, for certain tax effects in which the accounting under ASC 740 was incomplete. Such provisional amounts were subject to adjustment during a limited measurement period, not to extend one year beyond the tax law enactment date. The Company has completed the accounting required under ASC 740 in a timely manner. Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity (net assets) of a business entity during a period from transactions and other events and circumstances from non-owner sources. Other comprehensive income (loss) includes certain changes in equity that are excluded from net income (loss), net of tax, such as foreign currency translation gains and losses, and unrealized gains and losses from interest rate hedging activities. The following table summarizes the balances in accumulated other comprehensive income (loss) by component: Cumulative Translation Adjustments Interest Rate Hedge Total (in thousands) Balance at December 31, 2018 $ (907 ) $ 1,179 $ 272 Balance at December 31, 2017 $ 562 $ 477 $ 1,039 Litigation and Settlement Costs Legal costs are expensed as incurred. The Company is involved in disputes, litigation and other legal actions in the ordinary course of business. The Company continually evaluates uncertainties associated with litigation and records a charge equal to at least the minimum estimated liability for a loss contingency when both of the following conditions are met: (i) information available prior to issuance of the financial statements indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial statements and (ii) the loss or range of loss can be reasonably estimated. Recently Adopted Accounting Pronouncements In May 2014, the FASB, issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides for new accounting guidance related to revenue recognition. This new standard replaced all prior U.S. GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance became effective for the Company on January 1, 2018 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company applied the guidance prospectively with an adjustment to accumulated deficit for the cumulative effect of adoption. Adoption of the amendments in this guidance accelerated the timing of the Company’s revenue and related cost recognition on products sold via some distributors, which changed from the sell-through method to the sell-in method under this guidance. The Company is also required to estimate the effects of pricing credits to its distributors from contractual price protection and unit rebate provisions, as well as stock rotation rights. The Company has completed its assessment of the impact of adopting this new accounting standard on the Company's consolidated financial position and results of operations for the year ended December 31, 2018; such impact is disclosed above, under the caption "Significant Accounting Policies—Revenue Recognition." The impact to accumulated deficit as of January 1, 2018 was not material. As a result of applying the guidance prospectively with an adjustment to accumulated deficit in the Company's consolidated financial statements for the cumulative effect of adoption, revenues that would have been recognized on a sell-through basis for the amount of deferred revenue and profit remaining as of the adoption date will not be recognized in earnings for any period. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . The amendments in this update include, among other things, a requirement to (1) measure equity investments (except equity method investments) at fair value with changes in fair value recognized in net income, with an option to measure equity investments that do not have readily determinable fair values at cost minus any impairment plus or minus any changes resulting from observable price changes; previously changes in fair value were recognized in other comprehensive income, and (2) separately present financial assets and liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statement. The amendments in this update were effective for the Company beginning in the first quarter of fiscal year 2018. The adoption of the amendments in this update did not have a material impact on the Company's consolidated financial position and results of operations for the year ended December 31, 2018. In March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net ) to clarify the revenue recognition implementation guidance on principal versus agent considerations. The amendments in this update clarify that when another party is involved in providing goods or services to a customer, an entity that is the principal has obtained control of a good or service before it is transferred to a customer, and provides indicators to assist an entity in determining whether it controls a specified good or service prior to the transfer to the customer. An entity that is the principal recognizes revenue in the gross amount of consideration to which it expects to be entitled in exchange for the specified good or service transferred to the customer, whereas an agent recognizes revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified good or service to be provided by the other party. The amendments in this update were effective for the Company beginning in the first quarter of fiscal year 2018, concurrent with and applied on the same basis as the new revenue recognition standard. The adoption of the amendments in this update did not have a material impact on the Company's consolidated financial position and results of operations for the year ended December 31, 2018. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments to eliminate the diversity in practice regarding the presentation and |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Income (Loss) Per Share Basic earnings per share, or EPS, is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding for the period and the weighted-average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock options, restricted stock units and restricted stock awards are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. In periods in which the Company has a net loss, dilutive common stock equivalents are excluded from the calculation of diluted EPS. The table below presents the computation of basic and diluted earnings per share: Years Ended December 31, 2018 2017 2016 (in thousands, except per share amounts) Numerator: Net income (loss) $ (26,199 ) $ (9,187 ) $ 61,292 Denominator: Weighted average common shares outstanding—basic 68,490 66,252 63,781 Dilutive common stock equivalents — — 3,872 Weighted average common shares outstanding—diluted 68,490 66,252 67,653 Net income (loss) per share: Basic $ (0.38 ) $ (0.14 ) $ 0.96 Diluted $ (0.38 ) $ (0.14 ) $ 0.91 For the years ended December 31, 2018 and 2017, the Company incurred net losses and accordingly excluded common stock equivalents, which represented all potentially dilutive securities, of 3.7 million and 4.5 million , respectively, from the calculation of diluted net loss per share due to their anti-dilutive nature. The Company excluded 0.8 million common stock equivalents resulting from outstanding equity awards for the year ended December 31, 2016 from the calculation of diluted net income per share due to their anti-dilutive nature. |
Business Combination
Business Combination | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations Acquisition of Exar Corporation On May 12, 2017, pursuant to the March 28, 2017 Agreement and Plan of Merger, Eagle Acquisition Corporation, a Delaware corporation and wholly-owned subsidiary of MaxLinear, merged with and into Exar Corporation , or Exar, with Exar surviving as a wholly owned subsidiary of MaxLinear. Under this Agreement and Plan of Merger, the Company agreed to acquire all of Exar's outstanding common stock for $13.00 per share in cash. MaxLinear also assumed certain of Exar 's stock-based awards in the merger. MaxLinear paid aggregate cash consideration of $688.1 million including $12.7 million of cash paid to settle certain stock-based awards that were not assumed by MaxLinear in the merger. The Company funded the transaction with cash from the balance sheet of the combined companies, including $235.8 million of cash from Exar, and the net proceeds of approximately $416.8 million from $425.0 million of new transaction debt (Note 8 ). The Company also assumed a purchase agreement that includes an indemnification obligation from Exar related to a November 9, 2016 business unit divestiture by Exar (Note 12 ). During the year ended December 31, 2018 , the Company made updates to estimates of certain tax-related assets acquired and liabilities assumed with a corresponding net increase to goodwill of $0.3 million related to this acquisition (Note 5 ). The Company has completed its purchase price allocation accounting associated with this acquisition. Acquisition of Certain Assets and Assumption of Certain Liabilities of the G.hn business of Marvell Semiconductor, Inc. On April 4, 2017, the Company consummated the transactions contemplated by a share and asset acquisition agreement with Marvell Semiconductor, Inc., or Marvell, to purchase certain assets and assume certain liabilities of Marvell’s G.hn business, including its Spain legal entity, for aggregate cash consideration of $21.0 million . The Company also hired certain employees of the G.hn business outside of Spain and assumed employment obligations of the Spanish entity acquired, which is now a subsidiary of MaxLinear. The acquired assets and assumed liabilities, together with the employees who joined MaxLinear and its subsidiaries as a result of the transaction, represent a business as defined in ASC 805, Business Combinations . The Company has integrated the acquired assets and employees into its existing business. The Company has completed its purchase price allocation accounting associated with this acquisition. Acquisition of Certain Assets and Assumption of Certain Liabilities of the Wireless Infrastructure Backhaul Business of Broadcom Corporation On July 1, 2016, the Company consummated the transactions contemplated by an asset purchase agreement entered into with Broadcom Corporation. The Company paid cash consideration of $80.0 million for the purchase of certain assets of Broadcom's wireless infrastructure backhaul business, and the assumption of certain liabilities. The acquired assets and assumed liabilities, together with employees who joined MaxLinear and its subsidiaries as a result of the transaction, represent a business as defined in ASC 805, Business Combinations . The Company has integrated the acquired assets and employees into the Company's existing business. The Company has completed its purchase price allocation accounting associated with this acquisition. Acquisition of Certain Assets and Assumption of Certain Liabilities of the Wireless Infrastructure Access Business of Microsemi Storage Solutions, Inc. (formerly known as PMC-Sierra, Inc.) On April 28, 2016, the Company entered into an asset purchase agreement with Microsemi Storage Solutions, Inc., formerly known as PMC-Sierra, Inc., or Microsemi, and consummated the transactions contemplated by the asset purchase agreement. The Company paid cash consideration of $21.0 million for the purchase of certain wireless access assets of Microsemi's wireless infrastructure access business, and assumed certain liabilities. The acquired assets and assumed liabilities, together with employees who joined MaxLinear and its subsidiaries as a result of the transaction, represent a business as defined in ASC 805, Business Combinations . The Company has integrated the acquired assets and employees into the Company's existing business. The Company has completed its purchase price allocation accounting associated with this acquisition. |
Restructuring Activity
Restructuring Activity | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Activity | Restructuring Activity From time to time, the Company approves and implements restructuring plans as a result of acquisitions, internal resource alignment, and cost saving measures. Such restructuring plans include terminating employees, vacating certain leased facilities, and cancellation of contracts. The following table presents the activity related to the plans, which is included in restructuring charges in the consolidated statements of operations : Years Ended December 31, 2018 2017 2016 (in thousands) Employee separation expenses $ 2,094 $ 8,353 $ 1,038 Lease related expenses 1,608 1,025 2,264 Other 136 146 130 $ 3,838 $ 9,524 $ 3,432 Included in employee separation expenses for the year ended December 31, 2017 is stock-based compensation from the acceleration of certain stock-based awards the Company assumed from Exar due to existing change in control provisions triggered upon termination or diminution of authority of former Exar executives of $5.1 million . Lease related and other charges primarily related to exiting certain redundant facilities. The lease related restructuring charges in the 2016 period also included adjustments to the estimates of net present value of the remaining lease obligation associated with certain vacated facilities that are under assumed lease arrangements. Total sublease income related to leased facilities the Company ceased using was approximately $2.4 million , $2.1 million and $1.3 million for the for the years ended December 31, 2018 , 2017 , and 2016 respectively. The Company does not expect to incur additional material costs related to 2018 restructuring plans. The following table presents a roll-forward of the Company's restructuring liability for the years ended December 31, 2018 and 2017 . The restructuring liability is included in accrued expenses and other current liabilities in the consolidated balance sheets. Employee Separation Expenses Lease Related Expenses Other Total (in thousands) Liability as of December 31, 2016 $ — $ 499 $ 37 $ 536 Transfers from deferred rent — 4,405 — 4,405 Restructuring charges 8,353 1,025 146 9,524 Assumed in acquisition — — 70 70 Cash payments (2,984 ) (2,861 ) (146 ) (5,991 ) Non-cash charges (5,130 ) (375 ) — (5,505 ) Liability as of December 31, 2017 239 2,693 107 3,039 Restructuring charges 2,094 1,608 136 3,838 Cash payments (1,924 ) (1,884 ) (196 ) (4,004 ) Non-cash charges — (927 ) — (927 ) Liability as of December 31, 2018 $ 409 $ 1,490 $ 47 $ 1,946 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets Notes | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill arises from the acquisition method of accounting for business combinations and represents the excess of the purchase price over the fair value of the net assets and other identifiable intangible assets acquired. The fair values of net tangible assets and intangible assets acquired are based upon preliminary valuations and the Company's estimates and assumptions are subject to change within the measurement period (potentially up to one year from the acquisition date). During the year ended December 31, 2018 , the Company adjusted its allocation of purchase price for the acquisition of Exar related to updates to estimates of certain tax-related assets acquired and liabilities assumed with a corresponding net increase in goodwill of $0.3 million . The following table presents the changes in the carrying amount of goodwill for the periods indicated: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 237,992 $ 76,015 Acquisitions — 162,318 Adjustments 338 (341 ) Ending balance $ 238,330 $ 237,992 The Company performs an annual goodwill impairment assessment on October 31st each year, using a two-step quantitative assessment. Step one is the identification of potential impairment. This involves comparing the fair value of each reporting unit, which the Company has determined to be the entity itself, with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds the carrying amount, the goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. The Company determined there were no indications of impairment associated with goodwill. As a result, no goodwill impairment was recognized as of October 31, 2018 . In addition to its annual review, the Company performs a test of impairment when indicators of impairment are present. As of December 31, 2018 , there were no indications of impairment of the Company's goodwill balances. Acquired Intangibles Finite-lived Intangible Assets The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and other purchases, which continue to be amortized: December 31, 2018 December 31, 2017 Weighted Average Useful Life (in Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount (in thousands) Licensed technology 3.7 $ 2,070 $ (1,130 ) $ 940 $ 2,070 $ (575 ) $ 1,495 Developed technology 6.9 238,961 (74,630 ) 164,331 241,561 (39,252 ) 202,309 Trademarks and trade names 6.1 13,800 (4,252 ) 9,548 13,800 (1,992 ) 11,808 Customer relationships 4.6 121,100 (55,647 ) 65,453 121,100 (26,661 ) 94,439 Non-compete covenants 3.0 1,100 (872 ) 228 1,100 (506 ) 594 6.1 $ 377,031 $ (136,531 ) $ 240,500 $ 379,631 $ (68,986 ) $ 310,645 The following table sets forth amortization expense associated with finite-lived intangible assets, which is included in the consolidated statements of operations as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Cost of net revenue $ 35,821 $ 25,316 $ 8,512 Research and development 150 551 619 Selling, general and administrative 31,976 28,827 6,953 $ 67,947 $ 54,694 $ 16,084 Amortization of finite-lived intangible assets in cost of net revenue in the consolidated statements of operations results primarily from acquired developed technology. The following table sets forth activity during the years ended December 31, 2018 and 2017 related to finite-lived intangible assets: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 310,645 $ 81,861 Acquisitions — 245,500 Other additions — 5,378 Transfers to developed technology from IPR&D — 32,600 Amortization (67,947 ) (54,694 ) Impairment losses (2,198 ) — Ending balance $ 240,500 $ 310,645 The Company regularly reviews the carrying amounts of its long-lived assets subject to depreciation and amortization, as well as the related useful lives, to determine whether indicators of impairment may exist which warrant adjustments to carrying values or estimated useful lives. An impairment loss is recognized when the sum of the expected future undiscounted net cash flows is less than the carrying amount of the asset. Should impairment exist, the impairment loss is measured based on the excess of the carrying amount of the asset over the asset’s fair value. Impairment losses related to finite-lived intangible assets for the year ended December 31, 2018 were $2.2 million and related to acquired developed technology. During the years ended December 31, 2017 and 2016 , no impairment losses related to finite-lived intangible assets were recognized. The following table presents future amortization of the Company’s finite-lived intangible assets at December 31, 2018 : Amortization (in thousands) 2019 $ 56,819 2020 55,954 2021 55,171 2022 37,641 2023 25,446 Thereafter 9,469 Total $ 240,500 Indefinite-lived Intangible Assets Indefinite-lived intangible assets consist entirely of acquired in-process research and development technology, or IPR&D. The following table sets forth the Company’s activities related to the indefinite-lived intangible assets: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 4,400 $ 22,400 Acquisitions — 16,600 Transfers to developed technology from IPR&D — (32,600 ) Impairment losses — (2,000 ) Ending balance $ 4,400 $ 4,400 The Company performs its annual assessment of indefinite-lived intangible assets on October 31 each year or more frequently if events or changes in circumstances indicate that the asset might be impaired utilizing a qualitative test as a precursor to the quantitative test comparing the fair value of the assets with their carrying amount. Based on the qualitative test, if it is more likely than not that indicators of impairment exists, the Company proceeds to perform a quantitative analysis. Based on the Company’s assessment as of October 31, 2018 , no indicators of impairment were identified. In the year ended December 31, 2018 , no IPR&D impairment losses were recorded. In the year ended December 31, 2017 , the Company recognized impairment losses of $2.0 million related to a single IPR&D project, which was abandoned. In the year ended December 31, 2016, the Company recognized impairment losses of $1.3 million related to the Company's abandonment of a single IPR&D project. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | Financial Instruments The composition of financial instruments is as follows: December 31, 2018 December 31, 2017 (in thousands) Assets Interest rate swap $ 1,623 $ 734 The fair values of the Company’s financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants and is recorded using a hierarchical disclosure framework based upon the level of subjectivity of the inputs used in measuring assets and liabilities. The levels are described below: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The Company classifies its financial instrument within Level 2 of the fair value hierarchy on the basis of models utilizing market observable inputs. The interest rate swap has been valued on the basis of valuations provided by third-party pricing services, as derived from standard valuation or pricing models. Market-based observable inputs for the interest rate swap include one month LIBOR-based yield curves over the term of the swap. The Company reviews third-party pricing provider models, key inputs and assumptions and understands the pricing processes at its third-party providers in determining the overall reasonableness of the fair value of its Level 2 financial instruments. The Company also considers the risk of nonperformance by assessing the swap counterparty's credit risk in the estimate of fair value of the interest rate swap. As of December 31, 2018 and 2017 , the Company has not made any adjustments to the valuations obtained from its third party pricing providers. The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis: Fair Value Measurements Balance Quoted Prices Significant Significant (in thousands) Assets Interest rate swap, December 31, 2018 $ 1,623 $ — $ 1,623 $ — Interest rate swap, December 31, 2017 $ 734 $ — $ 734 $ — The following table summarizes activity for the interest rate swap: Fair Value at December 31, 2018 2017 (in thousands) Interest rate swap asset Beginning balance $ 734 $ — Unrealized gain recognized in other comprehensive income (loss) 889 734 Ending balance $ 1,623 $ 734 There were no transfers between Level 1, Level 2 or Level 3 fair value hierarchy categories in the years ended December 31, 2018 and 2017 . Financial Instruments Not Recorded at Fair Value on a Recurring Basis Some of the Company’s financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature. Such financial assets and financial liabilities include: cash and cash equivalents, restricted cash, net receivables, certain other assets, accounts payable, accrued price protection liability, accrued expenses, accrued compensation costs, and other current liabilities. The Company’s long-term debt is not recorded at fair value on a recurring basis, but is measured at fair value for disclosure purposes (Note 8 ). |
Balance Sheet Details
Balance Sheet Details | 12 Months Ended |
Dec. 31, 2018 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Details | Balance Sheet Details Cash, cash equivalents, and restricted cash consist of the following: December 31, 2018 December 31, 2017 (in thousands) Cash and cash equivalents $ 73,142 $ 71,872 Short-term restricted cash 645 1,476 Long-term restricted cash 404 1,064 Total cash, cash equivalents and restricted cash $ 74,191 $ 74,412 As of December 31, 2018 and 2017 , the Company has restricted cash of $1.0 million and $2.5 million , respectively. The cash is restricted in connection with guarantees for certain import duties and office leases. Inventory consists of the following: December 31, 2018 December 31, 2017 (in thousands) Work-in-process $ 17,618 $ 21,823 Finished goods 24,120 31,611 $ 41,738 $ 53,434 Property and equipment consist of the following: Useful Life (in Years) December 31, 2018 December 31, 2017 (in thousands) Furniture and fixtures 5 $ 2,020 $ 2,105 Machinery and equipment 3-5 34,225 33,462 Masks and production equipment 2 12,645 11,470 Software 3 5,675 4,695 Leasehold improvements 1-5 17,493 14,340 Construction in progress N/A 133 639 72,191 66,711 Less accumulated depreciation and amortization (53,787 ) (44,053 ) $ 18,404 $ 22,658 Depreciation expense for the years ended December 31, 2018 , 2017 and 2016 was $11.1 million , $12.0 million and $10.6 million , respectively. Deferred revenue and deferred profit consist of the following: December 31, 2018 December 31, 2017 (1) (in thousands) Deferred revenue—rebates $ — $ 156 Deferred revenue—distributor transactions — 5,341 Deferred cost of net revenue—distributor transactions — (1,135 ) $ — $ 4,362 __________ (1) Due to the adoption of ASC 606 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sell-through method, which required the deferral of revenue and profit on such distributor sales. Accrued price protection liability consists of the following activity: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 21,571 $ 15,176 Charged as a reduction of revenue 34,288 46,520 Reversal of unclaimed rebates (2,413 ) (101 ) Payments (36,992 ) (40,024 ) Ending balance $ 16,454 $ 21,571 Accrued expenses and other current liabilities consist of the following: December 31, 2018 December 31, 2017 (1) (in thousands) Accrued technology license payments $ 4,500 $ 4,500 Accrued professional fees 1,270 1,497 Accrued engineering and production costs 646 2,378 Accrued restructuring 1,946 3,039 Accrued royalty 980 1,206 Accrued leases—other 1,214 1,105 Accrued customer credits 1,204 2,667 Income tax liability 1,642 — Customer contract liabilities 71 — Accrued obligations to customers for price adjustments 7,558 — Accrued obligations to customers for stock rotation rights 1,494 — Other 995 3,914 $ 23,520 $ 20,306 ___________ (1) Due to the adoption of ASC 606 using the modified retrospective method, prior period amounts have not been adjusted to include customer contract liabilities and accrued obligations to customers for price adjustments and stock rotation rights, which are now required to be estimated and disclosed at the time of sale. |
Debt and Interest Rate Swap (No
Debt and Interest Rate Swap (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Debt and Interest Rate Swap Debt The carrying amount of the Company's long-term debt consists of the following: December 31, 2018 December 31, 2017 (in thousands) Principal $ 262,000 $ 355,000 Less: Unamortized debt discount (1,630 ) (1,930 ) Unamortized debt issuance costs (4,613 ) (5,461 ) Net carrying amount of long-term debt 255,757 347,609 Less: current portion of long-term debt — — Long-term debt, non-current portion $ 255,757 $ 347,609 On May 12, 2017, the Company entered into a credit agreement with certain lenders and a collateral agent in connection with the acquisition of Exar (Note 3). The credit agreement provides for an initial secured term B loan facility (the “Initial Term Loan”) in an aggregate principal amount of $425.0 million . The credit agreement permits the Company to request incremental loans in an aggregate principal amount not to exceed the sum of $160.0 million (subject to adjustments for any voluntary prepayments), plus an unlimited amount that is subject to pro forma compliance with certain secured leverage ratio and total leverage ratio tests. Incremental loans are subject to certain additional conditions, including obtaining additional commitments from the lenders then party to the credit agreement or new lenders. Loans under the credit agreement bear interest, at the Company’s option, at a rate equal to either (i) a base rate equal to the highest of (x) the federal funds rate, plus 0.50% , (y) the prime rate then in effect and (z) an adjusted LIBOR rate determined on the basis of a one- three- or six-month interest period, plus 1.0% or (ii) an adjusted LIBOR rate, subject to a floor of 0.75% , in each case, plus an applicable margin of 2.50% in the case of LIBOR rate loans and 1.50% in the case of base rate loans. Commencing on September 30, 2017, the Initial Term Loan will amortize in equal quarterly installments equal to 0.25% of the original principal amount of the Initial Term Loan, with the balance payable on the maturity date. The Initial Term Loan has a term of seven years and will mature on May 12, 2024, at which time all outstanding principal and accrued and unpaid interest on the Initial Term Loan must be repaid. The Company is also required to pay fees customary for a credit facility of this size and type. The Company is required to make mandatory prepayments of the outstanding principal amount of term loans under the credit agreement with the net cash proceeds from the disposition of certain assets and the receipt of insurance proceeds upon certain casualty and condemnation events, in each case, to the extent not reinvested within a specified time period, from excess cash flow beyond stated threshold amounts, and from the incurrence of certain indebtedness. The Company has the right to prepay its term loans under the credit agreement, in whole or in part, at any time without premium or penalty, subject to certain limitations and a 1.0% soft call premium applicable during the first six months for the loan term. The Company exercised its right to prepay and made aggregate payments of principal of $163.0 million to date through December 31, 2018 . The Company’s obligations under the credit agreement are required to be guaranteed by certain of its domestic subsidiaries meeting materiality thresholds set forth in the credit agreement. Such obligations, including the guaranties, are secured by substantially all of the assets of the Company and the subsidiary guarantors pursuant to a security agreement with the collateral agent. The credit agreement contains customary affirmative and negative covenants, including covenants limiting the ability of the Company and its restricted subsidiaries to, among other things, incur debt, grant liens, undergo certain fundamental changes, make investments, make certain restricted payments, and sell assets, in each case, subject to limitations and exceptions. As of December 31, 2018 , the Company was in compliance with such covenants. The credit agreement also contains customary events of default that include, among other things, certain payment defaults, cross defaults to other indebtedness, covenant defaults, change in control defaults, judgment defaults, and bankruptcy and insolvency defaults. If an event of default exists, the lenders may require immediate payment of all obligations under the credit agreement, and may exercise certain other rights and remedies provided for under the credit agreement, the other loan documents and applicable law. As of December 31, 2018 and 2017, the weighted average effective interest rate on long-term debt was approximately 4.6% and 4.1% , respectively. The debt is carried at its principal amount, net of unamortized debt discount and issuance costs, and is not adjusted to fair value each period. The issuance date fair value of the liability component of the debt in the amount of $398.5 million was determined using a discounted cash flow analysis, in which the projected interest and principal payments were discounted back to the issuance date of the term loan at a market interest rate for nonconvertible debt of 4.6% , which represents a Level 2 fair value measurement. The debt discount of $2.1 million and debt issuance costs of $6.0 million are being amortized to interest expense using the effective interest method from the issuance date through the contractual maturity date of the term loan of May 12, 2024 . During the year ended December 31, 2018 , the Company recognized amortization of debt discount of $0.3 million and debt issuance costs of $0.8 million to interest expense. During the year ended December 31, 2017 , the Company recognized amortization of debt discount of $0.2 million and debt issuance costs of $0.6 million to interest expense. The approximate fair value of the term loan as of December 31, 2018 and 2017 was $268.1 million and $360.0 million , respectively, which was estimated on the basis of inputs that are observable in the market and which is considered a Level 2 measurement method in the fair value hierarchy. As of December 31, 2018 and 2017, the remaining principal balance on the term loan was $262.0 million and $355.0 million , respectively. The remaining principal balance is due on May 12, 2024 at the maturity date on the term loan. Interest Rate Swap In November 2017, the Company entered into a fixed-for-floating interest rate swap with an amortizing notional amount to swap a substantial portion of variable rate LIBOR interest payments under its term loans for fixed interest payments bearing an interest rate of 1.74685% . The Company's outstanding debt is still subject to a 2.5% fixed applicable margin during the term of the loan. The interest rate swap is designated as a cash flow hedge of a portion of floating rate interest payments on long-term debt and effectively fixes the interest rate on a substantial portion of the Company’s long-term debt at approximately 4.25% . Accordingly, the Company applies cash flow hedge accounting to the interest rate swap and it is recorded at fair value as an asset or liability and the effective portion of changes in the fair value of the interest rate swap, as measured quarterly, are reported in other comprehensive income (loss). As of December 31, 2018 and 2017 , the fair value of the interest rate swap asset was $1.6 million and $0.7 million , respectively, (Note 6 ) and is included in other long-term assets in the consolidated balance sheets. The increase in fair value related to the interest rate swap asset included in other comprehensive income for the years ended December 31, 2018 and 2017 was $0.9 million and $0.7 million , respectively. The interest rate swap expires in October 2020 and the total $1.6 million of unrealized gain recorded in accumulated other comprehensive income at December 31, 2018 is not expected to be recorded in interest expense over the next twelve months. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation and Employee Benefit Plans | Stock-Based Compensation and Employee Benefit Plans Common Stock On March 29, 2017 , each share of the Company’s then outstanding Class A common stock and Class B common stock automatically converted into a single class of common stock pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation. Also on March 29, 2017, the shares underlying outstanding stock options, restricted stock units and restricted stock awards automatically converted to rights to receive shares of a single class of common stock. The conversion had no impact on the total number of issued and outstanding shares of capital stock; the Class A shares and Class B shares converted into an equivalent number of shares of common stock. The board of directors approved a reduction in the Company’s total number of authorized shares of capital stock by 65,445,853 from 1,575,000,000 to 1,509,554,147 to account for the 58,876,053 shares of Class A common stock and 6,569,800 shares of Class B common stock retired upon conversion, such that the authorized number of shares of Class A common stock is 441,123,947 and the authorized number of shares of Class B common stock is 493,430,200 . No additional Class A shares or Class B shares will be issued following the conversion. The authorized number of shares of common stock and preferred stock remain unchanged at 550,000,000 shares and 25,000,000 shares, respectively. Following the conversion, each share of common stock is entitled to one vote per share and otherwise has the same designations, rights, powers and preferences as the Class A common stock prior to the conversion. In addition, holders of the common stock vote as a single class of stock on any matter that is submitted to a vote of stockholders. Prior to the conversion, the holders of the Company’s Class A and Class B common stock had identical voting rights, except that holders of Class A common stock were entitled to one vote per share and holders of Class B common stock were entitled to ten votes per share with respect to transactions that would result in a change of control of the Company or that relate to the Company’s equity incentive plans. In addition, holders of Class B common stock had the exclusive right to elect two members of the Company’s Board of Directors, each referred to as a Class B Director. The shares of Class B common stock were not publicly traded. Each share of Class B common stock was convertible at any time at the option of the holder into one share of Class A common stock and in most instances automatically converted upon sale or other transfer. Employee Compensation Plans At December 31, 2018 , the Company had stock-based compensation awards outstanding under the following plans: the 2004 Stock Plan, the 2010 Equity Incentive Plan, as amended, or 2010 Plan, and the 2010 Employee Stock Purchase Plan, or ESPP, and plans under which equity incentive awards were assumed in connection with the acquisitions of Entropic in 2015 and Exar Corporation in 2017. All current stock awards are issued under the 2010 Plan and ESPP. 2010 Equity Incentive Plan The 2010 Plan provides for the grant of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock unit awards, stock appreciation rights, performance-based stock awards, and other forms of equity compensation, or collectively, stock awards. The aggregate number of shares of common stock that may be issued pursuant to stock awards under the 2010 Plan will increase by any shares subject to stock options or other awards granted under the 2004 Stock Plan that expire or otherwise terminate without having been exercised in full and shares issued pursuant to awards granted under the 2004 Stock Plan that are forfeited to or repurchased by the Company. In addition, the number of shares of common stock reserved for issuance will automatically increase on the first day of each fiscal year, equal to the lesser of: 2,583,311 shares of the Company’s common stock; four percent ( 4% ) of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year; or such lesser amount as the Company’s board of directors may determine. Options granted will generally vest over a four year period and the term can be from seven to ten years. In December 2018, the Company's board of directors approved an amendment to the plan to add a clawback policy, which requires the Company's executive officers to repay to MaxLinear certain incentive compensation if (i) the Company restates its financial statements as a result of a material error or due to material non-compliance with reporting requirements under applicable law; (ii) no more than three (3) years have elapsed since the original filing date of the financial statements; and (iii) an independent committee of the board’s compensation committee determines, in its sole discretion, that the misreporting event occurred due to fraud or intentional misconduct within MaxLinear and, following consideration of such factors as the committee may deem reasonable and appropriate, including the extent to which an executive officer knew or should have known of the factors resulting in the misreporting, that the executive officer should repay any “recoverable compensation.” Recoverable compensation is defined in the clawback policy but generally includes any cash or equity compensation paid to executive officers under the Company's Executive Incentive Bonus Plan or 2010 Equity Incentive Plan to the extent the amount actually paid by MaxLinear exceeds the amount that would have been paid if the financial misreporting event had not occurred. To date, there has been no repayment of compensation from executive officers pursuant to such clawback policy. As of December 31, 2018 , the number of shares reserved for future issuance under the 2010 Plan and awards outstanding under the 2004 Plan are 12,800,027 shares and 553,710 shares, respectively. 2010 Employee Stock Purchase Plan The ESPP authorizes the issuance of shares of the Company’s common stock pursuant to purchase rights granted to the Company’s employees. The number of shares of the Company’s common stock reserved for issuance will automatically increase on the first day of each fiscal year, equal to the least of: 968,741 shares of the Company’s common stock; one and a quarter percent ( 1.25% ) of the outstanding shares of the Company’s common stock on the first day of the fiscal year; or such lesser amount as may be determined by the Company's board of directors or a committee appointed by the Company's board of directors to administer the ESPP. The ESPP is implemented through a series of offerings of purchase rights to eligible employees. Under the ESPP, the Company may specify offerings with a duration of not more than 27 months , and may specify shorter purchase periods within each offering. Each offering will have one or more purchase dates on which shares of the Company’s common stock will be purchased for employees participating in the offering. An offering may be terminated under certain circumstances. Generally, all eligible employees, including executive officers, employed by the Company may participate in the ESPP and may contribute up to 15% of their earnings for the purchase of the Company’s common stock under the ESPP. Unless otherwise determined by the Company’s board of directors, common stock will be purchased for accounts of employees participating in the ESPP at a price per share equal to the lower of (a) 85% of the fair market value of a share of the Company’s common stock on the first date of an offering or (b) 85% of the fair market value of a share of the Company’s common stock on the date of purchase. As of December 31, 2018 , the number of shares of common stock reserved for future issuance under the ESPP is 2,130,864 shares. Employee Incentive Bonus In May 2013 , the Company's compensation committee amended its Executive Incentive Bonus Plan to permit the settlement of awards under the plan in any combination of cash or shares of its common stock. Additionally, the Company settles a majority of bonus awards for all other employees in common stock. When bonus awards are settled in common stock issued under the 2010 Plan, the number of shares issuable to plan participants is determined based on the closing sales price of the Company's common stock as determined in trading on the New York Stock Exchange on the date approved by the Board of Directors. In February 2018, the Company issued 0.3 million freely-tradable shares of its common stock in settlement of bonus awards to employees, including executives, for the 2017 performance period. In February 2017, the Company issued 0.2 million freely-tradable shares of its Class A common stock in settlement of bonus awards to employees, including executives, for the July 1, 2016 to December 31, 2016 performance period. In August 2016, the Company issued 0.2 million freely-tradable shares of its Class A common stock in settlement of bonus awards to employees, including executives, for the January 1, 2016 to June 30, 2016 performance period. At December 31, 2018 , an accrual of $8.9 million was recorded for bonus awards for employees for the January 1, 2018 to December 31, 2018 performance period, which the Company intends to settle in shares of its common stock to be issued under its 2010 Equity Incentive Plan, as amended, with the number of shares issuable to plan participants determined based on the closing sales price of the Company’s common stock as determined in trading on the New York Stock Exchange at a date to be determined. The Company's compensation committee retains discretion to effect payment in cash, stock, or a combination of cash and stock. Stock-Based Compensation The Company recognizes stock-based compensation expense in the consolidated statements of operations , based on the department to which the related employee reports, as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Cost of net revenue $ 489 $ 332 $ 210 Research and development 17,953 16,190 14,403 Selling, general and administrative 13,279 11,016 7,152 Restructuring expense — 5,130 — $ 31,721 $ 32,668 $ 21,765 The total unrecognized compensation cost related to unvested restricted stock units as of December 31, 2018 was $53.4 million , and the weighted average period over which these equity awards are expected to vest is 2.62 years. The total unrecognized compensation cost related to unvested stock options as of December 31, 2018 was $4.5 million , and the weighted average period over which these equity awards are expected to vest is 2.84 years. Restricted Stock Units and Restricted Stock Awards The Company calculates the fair value of restricted stock units and restricted stock awards based on the fair market value of the Company’s common stock (formerly Class A common stock) on the grant date. Stock-based compensation expense is recognized over the vesting period using the straight-line method. A summary of the Company’s restricted stock unit and restricted stock award activity for the year ended December 31, 2018 is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2017 3,183 $ 20.13 Granted 2,460 19.40 Vested (1,736 ) 18.64 Canceled (644 ) 20.90 Outstanding at December 31, 2018 3,263 20.23 Employee Stock Purchase Rights and Stock Options The Company uses the Black-Scholes valuation model to calculate the grant-date fair value of employee stock purchase rights and stock options. Stock-based compensation expense is recognized over the vesting period using the straight-line method. Employee Stock Purchase Rights During the year ended December 31, 2018 , there were 275,782 shares of common stock purchased under the ESPP at a weighted average price of $16.14 . The fair values of employee stock purchase rights were estimated using the Black-Scholes option pricing model at their respective grant date using the following assumptions: Years Ended December 31, 2018 2017 2016 Weighted-average grant date fair value per share $5.01 - $5.37 $6.20 - $7.46 $5.85 - $6.20 Risk-free interest rate 2.09 - 2.51% 0.60 - 1.39% 0.38 - 0.6% Dividend yield — % — % — % Expected term (in years) 0.5 0.38 - 0.50 0.5 Volatility 38.82 - 46.17% 29.56 - 49.94% 49.94 - 53.94% The risk-free interest rate assumption was based on the United States Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. The expected term is the duration of the offering period for each grant date. In addition, the estimated volatility incorporates the historical volatility over the expected term based on the Company's daily closing stock prices. Stock Options A summary of the Company’s stock option activity for the year ended December 31, 2018 is as follows: Number of Options (in thousands) Weighted-Average Exercise Price Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2017 3,069 $ 8.95 Granted 335 18.40 Exercised (636 ) 7.04 Canceled (109 ) 16.82 Outstanding at December 31, 2018 2,659 $ 10.27 2.23 $ 20,800 Vested and expected to vest at December 31, 2018 2,630 $ 10.19 2.19 $ 20,782 Exercisable at December 31, 2018 2,184 $ 8.71 1.43 $ 20,322 The fair values of stock options granted were estimated using the Black-Scholes option pricing model on the grant date using the following assumptions: Years Ended December 31, 2018 2017 (1) 2016 (2) Weighted-average grant date fair value per share $ 8.14 8.77 - 21.04 N/A Risk-free interest rate 2.76 % 1.29% - 1.99% N/A Dividend yield — % — % N/A Expected term (in years) 5.5 1.6 - 6.0 N/A Volatility 44.30 % 45.39% - 50.32% N/A _____________ (1) On May 12, 2017, the Company assumed certain stock options and restricted stock units from Exar. The assumptions above pertain to the Company's estimates of the fair value of such assumed equity awards, of which the vested portion was allocated to purchase price and the unvested portion allocated to future unrecognized compensation expense to be recognized over the remaining service period of the awards. (2) No options were granted during the year ended December 31, 2016. The risk-free interest rate assumption was based on the United States Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. The assumed dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. The expected term of the options was calculated using the simplified method as prescribed by guidance provided by the SEC. This decision was based on the lack of historical data due to the Company’s limited number of stock option exercises under the 2010 Equity Incentive Plan. Estimated volatility incorporates historical volatility of the Company over the expected term based on the Company's daily closing stock prices. The intrinsic value of stock options exercised during 2018 , 2017 and 2016 was $8.1 million , $16.3 million , and $6.5 million , respectively. Cash received from exercise of stock options was $0.7 million , $7.9 million and $3.6 million during the years ended December 31, 2018 , 2017 and 2016 , respectively. The tax benefit from stock options exercised was $7.8 million , $11.9 million , and $5.7 million during the years ended December 31, 2018 , 2017 and 2016 , respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The domestic and international components of income (loss) before income taxes are presented as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Domestic $ 16,405 $ 42,580 $ 75,778 Foreign (49,257 ) (76,578 ) (12,088 ) Income (loss) before income taxes $ (32,852 ) $ (33,998 ) $ 63,690 The income tax provision (benefit) consists of the following: Years Ended December 31, 2018 2017 2016 (in thousands) Current: Federal $ 3,292 $ 13,470 $ 1,216 State 37 26 (11 ) Foreign 1,640 1,784 1,092 Total current 4,969 15,280 2,297 Deferred: Federal 788 19,451 17,492 State (2,799 ) (4,668 ) (8,271 ) Foreign (3,884 ) (3,697 ) (2,459 ) Change in valuation allowance (5,727 ) (51,177 ) (6,661 ) Total deferred (11,622 ) (40,091 ) 101 Total income tax provision (benefit) $ (6,653 ) $ (24,811 ) $ 2,398 The actual income tax provision (benefit) differs from the amount computed using the federal statutory rate as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Provision (benefit) at statutory rate $ (6,814 ) $ (11,899 ) $ 22,294 State income taxes (net of federal benefit) 20 17 (13 ) Research and development credits (8,849 ) (8,153 ) (9,076 ) Foreign rate differential 8,640 23,666 2,888 Stock compensation 74 (5,713 ) (5,756 ) Foreign deemed dividend 1,103 — 51 Transaction costs — 553 749 Provision to return (27 ) (917 ) — Uncertain tax positions 1,463 1,993 (1,204 ) Foreign tax credits — (5 ) (72 ) Permanent and other 1,319 1,730 (802 ) Foreign unremitted earnings 1,960 (1,368 ) — Tax Act 185 25,205 — Other tax rate changes — 1,257 — Valuation allowance (5,727 ) (51,177 ) (6,661 ) Total income tax provision (benefit) $ (6,653 ) $ (24,811 ) $ 2,398 The components of the deferred income tax assets are as follows: December 31, 2018 2017 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 64,887 $ 77,355 Research and development credits 75,032 69,668 Accrued expenses and other 7,965 10,506 Accrued compensation 2,504 2,444 Stock-based compensation 2,550 2,659 Intangible assets — — 152,938 162,632 Less valuation allowance (79,196 ) (84,560 ) 73,742 78,072 Deferred tax liabilities: Fixed assets (1,391 ) (1,777 ) Intangible assets (20,833 ) (35,981 ) Unremitted foreign earnings — (436 ) Net deferred tax assets $ 51,518 $ 39,878 At December 31, 2018 , the Company had federal, state and foreign tax net operating loss carryforwards of approximately $261.4 million , $95.5 million and $13.6 million , respectively. The federal, state and foreign tax loss carryforwards will begin to expire in 2020 , 2019 and 2026 respectively, unless previously utilized. At December 31, 2018 , the Company had federal, state and foreign tax credit carryforwards of approximately $37.8 million , $83.1 million and $5.6 million , respectively. The federal and foreign tax credit carryforwards will begin to expire in 2023 and 2024 respectively, unless previously utilized. The state tax credit carryforwards do not expire. The Company also has foreign incentive deductions of approximately $23.5 million that do not expire. In addition, the Company has $0.7 million of federal alternative minimum tax credit carryforwards that will be refundable in future years, due to the Tax Cuts and Jobs Act described below. The Company utilizes the asset and liability method of accounting for income taxes, under which deferred taxes are determined based on temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the temporary differences reverse. The Company records a valuation allowance to reduce its deferred taxes to the amount it believes is more likely than not to be realized. In making such determination, the Company considers all available positive and negative evidence quarterly, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and recent financial performance. Forming a conclusion that a valuation allowance is not required is difficult when there is negative evidence such as cumulative losses in recent years. Based upon the Company's review of all positive and negative evidence, the Company released $51.2 million in valuation allowance against certain of its deferred tax assets in 2017. In 2018, the Company released an additional $11.3 million of its valuation allowance as a result of completing its analysis of the effects of the Tax Act. The Company continues to have a valuation allowance on its state deferred taxes, certain of its federal deferred tax assets, and certain foreign deferred tax assets in jurisdictions where the Company has cumulative losses or otherwise is not expected to utilize certain tax attributes. The Company does not incur expense or benefit in certain tax free jurisdictions in which it operates. The income tax benefit for the year ended December 31, 2018 primarily related to a partial release of the Company's valuation allowance as a result of the Tax Act and the mix of pre-tax income among jurisdictions, excess tax benefits related to stock-based compensation, and release of uncertain tax positions under ASC 740-10. The income tax benefit for the year ended December 31, 2017 primarily related to the release of the federal valuation allowance in 2017, partially offset by certain discrete tax effects related to initial intercompany royalties from our Singapore subsidiary to our U.S. parent and the impacts of reductions in our U.S. federal corporate tax rates under the Tax Act and reductions to our foreign corporate tax rates on our deferred income taxes in Singapore as a result of the concessionary income tax rates in Singapore. The income tax benefit for the year ended December 31, 2017 included provisional estimates for certain tax effects of the Tax Act for which accounting under ASC 740 was incomplete. Provisional amounts related to the Tax Act were subject to adjustment during a one-year measurement period, which ended December 31, 2018. During 2018, we recorded an additional income tax benefit of $11.3 million for a reduction to our federal valuation allowance on certain net operating loss carryforwards as a result of additional projected federal taxable income resulting from the Tax Act. Other changes to provisional amounts related to the Tax Act did not have a material impact on our income tax benefit for 2018. Income tax positions must meet a more-likely-than-not threshold to be recognized. Income tax positions that previously failed to meet the more-likely-than-not threshold are recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not threshold are derecognized in the first financial reporting period in which that threshold is no longer met. The Company records potential penalties and interest accrued related to unrecognized tax benefits within the consolidated statements of operations as income tax expense. At December 31, 2018 , the Company’s unrecognized tax benefits totaled $61.5 million , $52.2 million of which, if recognized at a time when the valuation allowance no longer exists, would affect the effective tax rate. At December 31, 2018 , the Company had accrued approximately $1.1 million of interest and penalties. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. The following table summarizes the changes to the unrecognized tax benefits during 2018 , 2017 and 2016 : (in thousands) Balance as of December 31, 2015 $ 26,053 Additions based on tax positions related to the current year 2,025 Decreases based on tax positions of prior year (4,661 ) Balance as of December 31, 2016 $ 23,417 Additions based on tax positions related to the current year 3,037 Additions related to acquisitions 37,090 Decreases based on tax positions of prior year (458 ) Balance as of December 31, 2017 $ 63,086 Additions based on tax positions related to the current year 3,080 Decreases based on tax positions of prior year (4,696 ) Balance as of December 31, 2018 $ 61,470 The Company is subject to federal and state income tax in the United States and is also subject to income tax in certain other foreign tax jurisdictions. At December 31, 2018 , the statutes of limitations for the assessment of federal, state, and foreign income taxes are closed for the years before 2015 , 2014 and 2011 , respectively. In April 2017, the Company's subsidiary in Singapore began operating under certain tax incentives in Singapore, which are generally effective through March 2022, and are conditional upon meeting certain employment and investment thresholds in Singapore. Under the incentives, qualifying income derived from certain sales of the Company's integrated circuits is taxed at a concessionary rate over the incentive period, and there are reduced Singapore withholding taxes on certain intercompany royalties during the incentive period. Primarily because of the Company's Singapore net operating losses and a full valuation allowance in Singapore, the incentives did not have a material impact on the Company's income tax expense in 2017 or 2018. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act, or the Tax Act. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning in 2018, the transition of U.S international taxation from a worldwide tax system to a territorial system, which includes a new federal tax on global intangible low-taxed income (Global Minimum Tax or GMT), and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017. The Company calculated its best estimate of the impact of the Tax Act in its 2017 income tax benefit in accordance with its understanding of the Tax Act and guidance available as of the date of the 2017 10-K filing. In addition, the SEC Staff issued SAB 118, which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it was previously required to record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. The provisional amounts were subject to revisions as the Company completed its analysis of the Tax Act, collected and prepared necessary data, and interpreted any additional guidance issued by the U.S. Treasury Department, Internal Revenue Service, or IRS, FASB, and other standard-setting and regulatory bodies. The measurement period expired on December 31, 2018 and the Company's accounting for the Tax Act is complete. During 2018, the Company reduced its valuation allowance on certain of its federal deferred tax assets by $11.3 million as a result of completing its analysis of the effects of the Tax Act. The other changes in 2018 to provisional amounts recorded in 2017 for the effects of the Tax Act were not material. |
Employee Retirement Plan
Employee Retirement Plan | 12 Months Ended |
Dec. 31, 2018 | |
Postemployment Benefits [Abstract] | |
Employee Retirement Plan | Employee Retirement Plan The Company has a 401(k) defined contribution retirement plan (the 401(k) Plan) covering all eligible employees. Participants may voluntarily contribute on a pre-tax basis an amount not to exceed a maximum contribution amount pursuant to Section 401(k) of the Internal Revenue Code. The Company is not required to contribute, nor has it contributed, to the 401(k) Plan for any of the periods presented. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Lease Commitments and Other Contractual Obligations The Company leases facilities and certain equipment under operating lease arrangements expiring at various years through fiscal 2023 . Certain of our leases contain standard rent escalation and renewal clauses. Lease expense for lease payments is recognized on a straight-line basis over the lease term. As of December 31, 2018 , future minimum payments under non-cancelable operating leases, inventory purchase and other obligations are as follows: Operating Leases Inventory Purchase Obligations Other Obligations Total (in thousands) 2019 $ 9,365 $ 65,661 $ 8,386 $ 83,412 2020 9,576 — 4,424 14,000 2021 9,286 — 693 9,979 2022 4,511 — 425 4,936 2023 1,205 — 447 1,652 Thereafter — — — — Total minimum payments $ 33,943 $ 65,661 $ 14,375 $ 113,979 Other obligations consist of contractual payments due for software licenses. The total rental expense for all operating leases was $4.5 million , $4.2 million and $2.9 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. The Company has subleased certain facilities that it ceased using in connection with a restructuring plan (Note 4 ). Such subleases expire at various years through fiscal 2023 . As of December 31, 2018 , future minimum rental income under non-cancelable subleases are as follows: Amount (in thousands) 2019 $ 3,566 2020 4,036 2021 4,057 2022 782 2023 291 Thereafter — Total minimum rental income $ 12,732 Total sublease income related to leased facilities the Company ceased using in connection with a restructuring plan for the years ended December 31, 2018 , 2017 and 2016 was approximately $2.4 million , $2.1 million and $ 1.3 million , respectively (Note 4 ). Exar iML Divestiture Indemnification Under the terms of the purchase agreement relating to the November 9, 2016 divestiture of Integrated Memory Logic Limited, or iML, by Exar, Exar agreed to indemnify the purchaser of the business unit for breaches of representations and warranties and covenants and for certain other matters. Exar also agreed to place $5.0 million of the total purchase price into an escrow account for a period of 18 months to partially secure its indemnification obligations under the purchase agreement; of this amount, $0.8 million remained in escrow as of December 31, 2018 ; $1.3 million has been released to the purchaser of iML and $2.9 million has been released to Exar through December 31, 2018 . Exar’s indemnification obligations for breaches of representations and warranties survived for 12 months from the closing of the sale transaction, except for breaches of representations and warranties covering intellectual property, which survived for 18 months , and breaches of representations and warranties of certain fundamental representations, which survive until the expiration of the applicable statute of limitations. Exar’s maximum indemnification obligation for breaches of representations and warranties, other than intellectual property and fundamental representations, is $13.6 million , its maximum indemnification obligation for breaches of intellectual property representations is $34.0 million , and is maximum indemnity obligation for breaches of fundamental representations is the full purchase price amount (approximately $136.0 million ). The aggregate amount recovered by the purchaser in accordance with the indemnification provisions with respect to matters that are subject to the intellectual property representations, together with the aggregate amount recovered by the Buyer in accordance with the indemnification provisions with respect to matters that are subject to the general representations and warranties (other than fundamental representations), will in no event exceed $34.0 million . The Company believes it does not have a material indemnification obligation as of December 31, 2018 ; however, if the Company were required to make payments in satisfaction of these indemnification obligations related to breaches of representations and warranties of certain fundamental obligations which have not yet expired, it could have a material adverse effect on the Company's business, financial condition, results of operations, and cash flows. CrestaTech Litigation On January 21, 2014, CrestaTech Technology Corporation, or CrestaTech, filed a complaint for patent infringement against the Company in the United States District Court of Delaware, or the District Court Litigation. In its complaint, CrestaTech alleged that the Company infringed U.S. Patent Nos. 7,075,585, or the ‘585 Patent and 7,265,792, or the ‘792 Patent. In addition to asking for compensatory damages, CrestaTech alleged willful infringement and sought a permanent injunction. CrestaTech also named Sharp Corporation, Sharp Electronics Corp. and VIZIO, Inc. as defendants based upon their alleged use of the Company's television tuners. On January 28, 2014, CrestaTech filed a complaint with the U.S. International Trade Commission, or ITC, again naming, among others, MaxLinear, Sharp, Sharp Electronics, and VIZIO, or the ITC Investigation. On May 16, 2014, the ITC granted CrestaTech’s motion to file an amended complaint adding six OEM Respondents, namely, SIO International, Inc., Hon Hai Precision Industry Co., Ltd., Wistron Corp., Wistron Infocomm Technology (America) Corp., Top Victory Investments Ltd. and TPV International (USA), Inc. which are collectively referred to with MaxLinear, Sharp and VIZIO as the Company Respondents. CrestaTech’s ITC complaint alleged a violation of 19 U.S.C. § 1337 through the importation into the United States, the sale for importation, or the sale within the United States after importation of MaxLinear's accused products that CrestaTech alleged infringe the same two patents asserted in the Delaware action. Through its ITC complaint, CrestaTech sought an exclusion order preventing entry into the United States of certain of the Company's television tuners and televisions containing such tuners from Sharp, Sharp Electronics, and VIZIO. CrestaTech also sought a cease and desist order prohibiting the Company Respondents from engaging in the importation into, sale for importation into, the sale after importation of, or otherwise transferring within the United States certain of the Company's television tuners or televisions containing such tuners. On March 10, 2014, the court stayed the District Court Litigation pending resolution of the ITC Investigation. On December 15, 2014, the ITC held a trial in the ITC Investigation. On February 27, 2015, the Administrative Law Judge, or the ALJ, issued a written Initial Determination, or ID, ruling that the Company Respondents do not violate Section 1337 in connection with CrestaTech’s asserted patents because CrestaTech failed to satisfy the economic prong of the domestic industry requirement pursuant to Section 1337(a)(2). In addition, the ID stated that certain of the Company's television tuners and televisions incorporating those tuners manufactured and sold by certain customers infringe three claims of the ‘585 Patent (claims 10, 12 and 13), and these three claims were not determined to be invalid. On April 30, 2015, the ITC issued a notice indicating that it intended to review portions of the ID finding no violation of Section 1337, including the ID’s findings of infringement with respect to, and validity of, the ‘585 Patent, and the ID’s finding that CrestaTech failed to establish the existence of a domestic industry within the meaning of Section 1337. The ITC subsequently issued its opinion, which terminated its investigation. The opinion affirmed the findings of the ALJ that no violation of Section 1337 had occurred because CrestaTech had failed to establish the economic prong of the domestic industry requirement. The ITC also affirmed the ALJ's finding of infringement with respect to the three claims of the '585 Patent that were not held to be invalid. On November 30, 2015, CrestaTech filed an appeal of the ITC decision with the United States Court of Appeals for the Federal Circuit, or the Federal Circuit. On March 7, 2016, CrestaTech voluntarily dismissed its appeal, resulting in a final determination of the ITC Investigation in the Company's favor. In addition, the Company has filed four petitions for inter partes review, or IPR, by the US Patent Office, two for each of the CrestaTech patents asserted against the Company. The Patent Trial and Appeal Board, or the PTAB, did not institute two of these IPRs as being redundant to IPRs filed by another party that were already underway for the same CrestaTech patent. The remaining two petitions were instituted or instituted-in-part meaning, together with the IPRs filed by third parties, there were six IPR proceedings instituted involving the two CrestaTech patents asserted against the Company. In October 2015, the PTAB issued final decisions in two of the six pending IPR proceedings (one for each of the two asserted patents), holding that all of the reviewed claims are unpatentable. Included in these decisions was one of the three claims of the ‘585 Patent (claim 10) mentioned above in connection with the ITC’s final decision. CrestaTech appealed the PTAB’s decisions at the Federal Circuit. On November 8, 2016, the Federal Circuit issued an opinion affirming the PTAB’s finding of unpatentability. In August 2016, the PTAB issued final written decisions in the remaining four pending IPR proceedings (two for each of the asserted patents), holding that many of the reviewed claims - including the two remaining claims of the ‘585 Patent which the ITC held were infringed - are unpatentable. The parties have appealed the two decisions related to the ‘585 Patent; however, no appeals were filed as to the PTAB's rulings for the ‘792 Patent. The Federal Circuit heard oral argument on these appeals on December 4, 2017. On December 7, the Federal Circuit issued a Rule 36 affirmance in one of the '585 appeals, affirming that the two remaining claims that the ITC had ruled were valid and infringed (claims 12 and 13) are unpatentable. On January 25, 2018, the Federal Circuit issued its ruling in the other ‘585 appeal, vacating the PTAB's ruling that certain claims were not unpatentable and remanding to the PTAB for further analysis of whether CrestaTech is estopped from arguing and/or has waived the right to argue whether six dependent claims are patentable. As a result of these IPR decisions, all 13 claims that CrestaTech asserted against the Company in the ITC Investigation have been found to be unpatentable by the PTAB and the Federal Circuit. On March 18, 2016, CrestaTech filed a petition for Chapter 7 bankruptcy in the Northern District of California. As a result of this proceeding, all rights in the CrestaTech asserted patents, including the right to control the pending litigation, were assigned to CF Crespe LLC, or CF Crespe. CF Crespe became the named party in the then-pending IPRs, Federal Circuit appeal and District Court Litigation. In April 2017, the Delaware court continued the stay of the District Court Litigation per the parties’ request, pending resolution of the Federal Circuit appeals in the IPRs. On April 3, 2018, the District Court dismissed the District Court Litigation. While Crespe has subsequently suggested that this dismissal may have been in error, Crespe has taken no action to date to re-instate the case. In its bankruptcy proceeding, Crespe has stated that it “no longer has any valid patent claims that it is asserting in any of the proceedings purchased through the Sale Agreement,” which includes the District Court Litigation against the Company. In re Cresta Technology Corporation , Case No. 16-50808 (N.D. Cal. Bank. 2016) at Dkt. No. 270. At this time, the Company cannot predict whether the District Court or other litigation will be re-instated. Trango Systems, Inc. Litigation On or about August 2, 2016, Trango Systems, Inc., or Trango, filed a complaint in the Superior Court of California, County of San Diego, Central Division, against defendants Broadcom Corporation, Inc., or Broadcom, and the Company, collectively, Defendants. Trango is a purchaser that alleges various fraud, breach of contract, and interference with economic relations claims in connection with the discontinuance of a chip line the Company acquired from Broadcom in 2016. Trango seeks unspecified general and special damages, pre-judgment interest, expenses and costs, attorneys’ fees, punitive damages, and unspecified injunctive and equitable relief. On June 23, 2017, the Court sustained the Company's demurrer to each cause of action in the second amended complaint filed on or about December 6, 2016. Trango filed its third amended complaint on or about July 13, 2017. On February 23, 2018, the Court sustained, in part, the Company's demurrer, dismissing with prejudice the cause of action for breach of a written contract, and Trango voluntarily dismissed its cause of action for breach of an implied-in-fact contract. The remaining causes of action have been permitted to proceed. On March 15, 2018, Trango filed its fourth amended complaint. The Company filed its answer on April 17, 2018. Also, on April 17, Broadcom filed a cross-complaint against the Company, alleging causes of action for indemnity, contribution and apportionment, and declaratory relief. Broadcom voluntarily dismissed the cross-complaint on June 8, 2018. On December 10, 2018, the Company filed a motion for summary judgment, or in the alternative summary adjudication concerning all of Trango’s causes of action asserted against it. The hearing on that motion is currently scheduled for March 1, 2019. The trial date is set for May 3, 2019. The Company intends to continue to vigorously defend against the lawsuit as it proceeds. The Company cannot predict the outcome of the Trango Systems, Inc. litigation. Any adverse determination in the Trango Systems, Inc. litigation could have a material adverse effect on the Company's business and operating results. Other Matters In addition, from time to time, the Company is subject to threats of litigation or actual litigation in the ordinary course of business, some of which may be material. Other than the CrestaTech and Trango litigation described above, the Company believes that there are no other currently pending litigation matters that, if determined adversely by the Company, would have a material effect on the Company's business or that would not be covered by the Company's existing liability insurance. |
Significant Customer and Geogra
Significant Customer and Geographic Information | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Significant Customer and Geographic Information | Concentration of Credit Risk, Significant Customers and Geographic Information Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents and accounts receivable. Collateral is generally not required for customer receivables. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. Significant Customers The Company markets its products and services to manufacturers of a wide range of electronic devices (Note 1 ). The Company makes periodic evaluations of the credit worthiness of its customers. Customers comprising greater than 10% of net revenues for each of the periods presented are as follows: Years Ended December 31, 2018 2017 2016 Percentage of total net revenue Customer A 18 % 25 % 27 % Customer B * * 10 % * Represents less than 10% of the net revenue for the respective period. Balances greater than 10% of accounts receivable, based on the Company's billings to the contract manufacturer customers, are as follows: December 31, 2018 2017 Percentage of gross accounts receivable Customer C * 17 % Customer D * 10 % Customer E 10 % * * Represents less than 10% of the gross accounts receivable for the respective period end. Suppliers comprising greater than 10% of total inventory purchases are as follows: Years ended December 31, 2018 2017 2016 Vendor A 16 % 21 % 16 % Vendor B 19 % 16 % 13 % Vendor C 15 % 15 % 11 % Vendor D * 14 % 11 % Vendor E 13 % 11 % 18 % Vendor F * * 12 % * Represents less than 10% of the inventory purchases for the respective period. Geographic Information The Company's consolidated net revenues by geographic area based on ship-to location are as follows (in thousands): Years Ended December 31, 2018 2017 2016 Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Asia $ 312,877 81 % $ 372,103 89 % $ 360,325 93 % United States 18,060 5 % 10,829 2 % 9,181 2 % Rest of world 54,060 14 % 37,386 9 % 18,326 5 % Total $ 384,997 100 % $ 420,318 100 % $ 387,832 100 % The products shipped to individual countries representing greater than 10% of net revenue for each of the periods presented are as follows: Years Ended December 31, 2018 2017 2016 Percentage of total net revenue China 63 % 71 % 78 % The determination of which country a particular sale is allocated to is based on the destination of the product shipment. No other individual country accounted for more than 10% of net revenue during these periods. Long-lived assets, which consists of property and equipment, intangible assets, and goodwill, by geographic area are as follows (in thousands): As of December 31, 2018 2017 Amount % of total Amount % of total United States $ 426,321 85 % $ 481,638 84 % Singapore 71,945 14 % 92,414 16 % Rest of world 3,368 1 % 1,643 — % Total $ 501,634 100 % $ 575,695 100 % |
Revenue from Contracts with Cus
Revenue from Contracts with Customers Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Revenue from Contracts with Customers Revenue by Market The table below presents disaggregated net revenues by market (in thousands): Years Ended December 31, 2018 2017 (1) 2016 (1) Connected home $ 207,336 $ 288,610 $ 346,990 % of net revenue 54 % 69 % 89 % Infrastructure 82,388 71,779 37,411 % of net revenue 21 % 17 % 10 % Industrial and multi-market 95,273 59,929 3,431 % of net revenue 25 % 14 % 1 % Total net revenue $ 384,997 $ 420,318 $ 387,832 ______________ (1) Due to the adoption of ASC 606 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sell-through method, which required the deferral of revenue and profit on such distributor sales. Contract Liabilities As of December 31, 2018 , customer contract liabilities consist of estimates of obligations to deliver rebates to customers in the form of units of products and were approximately $0.1 million . Revenue recognized in the year ended December 31, 2018 that was included in the contract liability balance as of January 1, 2018 was immaterial. There were no material changes in the contract liabilities balance during the year ended December 31, 2018 . Obligations to Customers for Price Adjustments and Returns and Assets for Right-of-Returns As of December 31, 2018 , obligations to customers consisting of estimates of price protection rights offered to the Company's end customers totaled $16.5 million and are included in accrued price protection liability in the consolidated balance sheets. For activity in this account, including amounts included in net revenue, refer to Note 7 . Other obligations to customers representing estimates of price adjustments to be claimed by distributors upon sell-through of their inventory to their end customer and estimates of stock rotation returns to be claimed by distributors on products sold as of December 31, 2018 were $7.6 million and $1.5 million , respectively, and are included in accrued expenses and other current liabilities in the consolidated balance sheets (Note 7 ). The increase in revenue from net changes in transaction prices for amounts included in obligations to customers for price adjustments as of January 1, 2018 was not material. As of December 31, 2018 , right of return assets under customer contracts representing the estimates of product inventory the Company expects to receive from customers in stock rotation returns were approximately $0.3 million . Right of return assets are included in inventory in the consolidated balance sheets (Note 7 ). As of December 31, 2018 , there were no impairment losses recorded on customer accounts receivable. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) The following table presents the Company’s unaudited quarterly financial data for each of the eight quarters in the period ended December 31, 2018 . In management’s opinion, this information has been presented on the same basis as the audited consolidated financial statements included in a separate section of this report, and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to present fairly the unaudited quarterly results when read in conjunction with the audited consolidated financial statements and related notes. As described in Note 1, as a result of the adoption of ASC 606 as of January 1, 2018 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sell-through method, which required the deferral of revenue and profit on such distributor sales. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period. Year Ended December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands, except per share amounts) Net revenue $ 110,827 $ 101,533 $ 85,010 $ 87,627 Gross profit 62,668 56,330 43,876 45,900 Net income (loss) $ 1,847 $ (14,422 ) $ (13,935 ) $ 311 Net income (loss) per share: Basic $ 0.03 $ (0.21 ) $ (0.20 ) $ 0.00 Diluted $ 0.03 $ (0.21 ) $ (0.20 ) $ 0.00 Year Ended December 31, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands, except per share amounts) Net revenue $ 88,841 $ 104,175 $ 113,581 $ 113,721 Gross profit $ 52,924 $ 51,104 $ 51,842 $ 52,093 Net income (loss) $ 8,463 $ 10,965 $ (9,167 ) $ (19,448 ) Net income (loss) per share: Basic $ 0.13 $ 0.17 $ (0.14 ) $ (0.29 ) Diluted $ 0.12 $ 0.16 $ (0.14 ) $ (0.29 ) |
Item 15 (Notes)
Item 15 (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS (in thousands): Classification Balance at beginning of year Additions (deductions) charged to expenses Other Additions (Deductions) Balance at end of year Allowance for doubtful accounts 2018 $ 73 $ — $ — $ (27 ) $ 46 2017 87 133 27 (174 ) 73 2016 236 87 — (236 ) 87 Warranty reserves 2018 $ 941 $ (414 ) $ — $ (8 ) $ 519 2017 860 492 122 (533 ) 941 2016 157 335 489 (121 ) 860 Valuation allowance for deferred tax assets 2018 $ 84,560 $ (5,761 ) $ 397 $ — $ 79,196 2017 100,284 (50,881 ) 35,157 — 84,560 2016 98,535 — 8,410 (6,661 ) 100,284 |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Effect of Adoption of ASC 606 | The following tables present the amounts by which each financial statement line item was affected as a result of applying ASC 606: Year Ended December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands, except per share amounts) Consolidated statement of operations: Net revenue $ 370,033 $ 14,964 $ 384,997 Cost of net revenue 170,719 5,504 176,223 Gross profit 199,314 9,460 208,774 Loss from operations (28,557 ) 9,460 (19,097 ) Loss before income taxes (42,312 ) 9,460 (32,852 ) Income tax benefit (8,640 ) 1,987 (6,653 ) Net loss (33,672 ) 7,473 (26,199 ) Basic and diluted loss per share (0.49 ) 0.11 (0.38 ) December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands) Consolidated balance sheet: Accounts receivable $ 59,491 $ — $ 59,491 Inventory 41,470 268 41,738 Total current assets 180,343 268 180,611 Total assets 738,563 268 738,831 Deferred revenue and deferred profit 19,499 (19,499 ) — Accrued expenses and other current liabilities 12,860 10,660 23,520 Total current liabilities 79,406 (8,839 ) 70,567 Total liabilities 347,734 (8,839 ) 338,895 Accumulated deficit (102,737 ) 9,107 (93,630 ) Total stockholders' equity 390,829 9,107 399,936 Total liabilities and stockholders' equity 738,563 268 738,831 |
Description of Business | Description of Business MaxLinear, Inc. was incorporated in Delaware in September 2003. MaxLinear, Inc., together with its wholly owned subsidiaries, collectively referred to as MaxLinear, or the Company, is a provider of radio-frequency, or RF, high-performance analog, and mixed-signal communications system-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear's customers include electronics distributors, module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company’s products in a wide range of electronic devices, including cable DOCSIS broadband modems and gateways, wireline connectivity devices for in-home networking applications, RF transceivers and modems for wireless carrier access and backhaul infrastructure, fiber-optic modules for data center, metro, and long-haul transport networks, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products used in these and a range of other markets. The Company is a fabless integrated circuit design company whose products integrate all or a substantial portion of a broadband communication system. |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of MaxLinear, Inc. and its wholly owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. All intercompany transactions and investments have been eliminated in consolidation. The functional currency of certain foreign subsidiaries is the local currency. Accordingly, assets and liabilities of these foreign subsidiaries are translated at the current exchange rate at the balance sheet date and historical rates for equity. Revenue and expense components are translated at weighted average exchange rates in effect during the period. Gains and losses resulting from foreign currency translation are included as a component of stockholders’ equity. Foreign currency transaction gains and losses are included in the results of operations, and to date, have not been material. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes of the consolidated financial statements. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are recorded at cost, which approximates market value. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable The Company performs ongoing credit evaluations of its customers and assesses each customer's credit worthiness. The Company monitors collections and payments from its customers and maintains an allowance for doubtful accounts based upon its historical experience, its anticipation of uncollectible accounts receivable and any specific customer collection issues that the Company has identified. As of December 31, 2018 and 2017 , the Company had an allowance for doubtful accounts of $0.05 million and $0.1 million , respectively. |
Inventory, Policy [Policy Text Block] | Inventory The Company assesses the recoverability of its inventory based on assumptions about demand and market conditions. Forecasted demand is determined based on historical sales and expected future sales. Inventory is stated at the lower of cost or net realizable value. Cost approximates actual cost on a first-in, first-out basis and net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company reduces its inventory to its lower of cost or net realizable value on a part-by-part basis to account for its obsolescence or lack of marketability. Reductions are calculated as the difference between the cost of inventory and its net realizable value based upon assumptions about future demand, market conditions and costs. Once established, these adjustments are considered permanent and are not revised until the related inventory is sold or disposed of. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses and compensation are considered to be representative of their respective fair value because of the short-term nature of these accounts. The interest rate swap is carried at fair value. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is carried at cost and depreciated over the estimated useful lives of the assets, ranging from two to five years, using the straight-line method. Leasehold improvements are stated at cost and amortized over the shorter of the estimated useful lives of the assets or the lease term. Production Masks Production masks with alternative future uses or discernible future benefits are capitalized and amortized over their estimated useful life of two to five years. To determine if the production mask has alternative future uses or benefits, the Company evaluates risks associated with developing new technologies and capabilities, and the related risks associated with entering new markets. Production masks that do not meet the criteria for capitalization are expensed as research and development costs. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method. Intangible assets represent purchased intangible assets including developed technology, in-process research and development, or IPR&D, technologies acquired or licensed from other companies, customer relationships, non-compete covenants, backlog, and trademarks and tradenames. Purchased finite-lived intangible assets are capitalized and amortized over their estimated useful lives. Technologies acquired or licensed from other companies, customer relationships, non-compete covenants, backlog, and trademarks and tradenames are capitalized and amortized over the lesser of the terms of the agreement, or estimated useful life. The Company capitalizes IPR&D projects acquired as part of a business combination. On completion of each project, IPR&D assets are reclassified to developed technology and amortized over their estimated useful lives. |
Impairment of Goodwill and Long-Lived Assets | Impairment of Goodwill and Long-Lived Assets Goodwill is not amortized but is tested for impairment using either a qualitative assessment, and/or the two-step method as needed. Step one is the identification of potential impairment. This involves comparing the fair value of each reporting unit, which the Company has determined to be the entity itself, with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds the carrying amount, the goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. The Company tests by reporting unit, goodwill and other indefinite-lived intangible assets for impairment as of October 31 each year or more frequently if it believes indicators of impairment exist. During development, IPR&D is not subject to amortization and is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company reviews indefinite-lived intangible assets for impairment using a qualitative assessment, followed by a quantitative assessment, as needed, each year as of October 31, the date of its annual goodwill impairment review, or whenever events or changes in circumstances indicate the carrying value may not be recoverable. Recoverability of indefinite-lived intangible assets is measured by comparing the carrying amount of the asset to its fair value. In certain cases, the Company utilizes the relief-from-royalty method when appropriate, and a fair value will be obtained based on analysis over the costs saved by owning the right instead of leasing it. Once an IPR&D project is complete, it becomes a finite-lived intangible asset and is evaluated for impairment both immediately prior to its change in classification and thereafter in accordance with the Company's policy for long-lived assets. The Company regularly reviews the carrying amount of its long-lived assets subject to depreciation and amortization, as well as the useful lives, to determine whether indicators of impairment may exist which warrant adjustments to carrying values or estimated useful lives. An impairment loss would be recognized when the sum of the expected future undiscounted net cash flows is less than the carrying amount of the asset. Should impairment exist, the impairment loss would be measured based on the excess of the carrying amount of the asset over the asset’s fair value. During the years 2018 , 2017 , and 2016 , the Company identified impairment of intangible assets of $2.2 million , $2.0 million and $1.3 million , respectively. Refer to Goodwill and Intangible Assets, Note 5 for more information. |
Revenue Recognition | Revenue Recognition On January 1, 2018, the Company adopted Financial Accounting Standards Board, or FASB, Accounting Standards Codification Topic 606, Revenue from Contracts with Customers , or ASC 606, using the modified retrospective method and accordingly, modified its policy on revenue recognition as stated below. The primary impact of adopting ASC 606 for the Company was to accelerate the timing of the Company’s revenue and related cost recognition on products sold via some of its distributors, which changed from recognition upon the sale to the distributors' end customers, or the sell-through method, to recognition upon the Company's sale to the distributor, or the sell-in method. The Company is now also required to estimate the effects of pricing credits to its distributors from contractual price protection and unit rebate provisions, as well as stock rotation rights and record such estimated credits upon the Company's sale to the distributor. As a result of the adoption of ASC 606 as of January 1, 2018 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change in revenue recognition for such distributor sales. Substantially all of the Company's revenue is generated from sales of the Company’s integrated circuits to electronics distributors, module makers, OEMs, and ODMs under individual customer purchase orders, some of which have underlying master sales agreements that specify terms governing the product sales. Effective January 1, 2018, the Company adopted ASC 606 and recognizes revenue at the point in time when control of the products is transferred to the customer at the estimated net consideration for which collection is probable, taking into account the customer's rights to price protection, other pricing credits, unit rebates, and rights to return unsold product. Transfer of control occurs either when products are shipped to or received by the distributor or direct customer, based on the terms of the specific agreement with the customer, if the Company has a present right to payment and transfer of legal title and the risks and rewards of ownership to the customer has occurred. For most of the Company's product sales, transfer of control occurs upon shipment to the distributor or direct customer. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intention to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 days from the invoice date, which occurs on the date of transfer of control of the products to the customer. Since payment terms are less than a year, the Company has elected the practical expedient and does not assess whether a customer contract has a significant financing component. A five-step approach is applied in the recognition of revenue under ASC 606: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when the Company satisfies a performance obligation. The Company applied ASC 606 to its customer contracts that were not completed before the January 1, 2018 adoption date. Customer purchase orders plus the underlying master sales agreements are considered to be contracts with the customer for purposes of applying the five-step approach under ASC 606. Pricing adjustments and estimates of returns under contractual stock rotation rights are treated as variable consideration for purposes of determining the transaction price, and are estimated at the time control transfers using the expected value method based on the Company's analysis of actual price adjustment claims by distributors and historical product return rates, and then reassessed at the end of each reporting period. The Company also considers whether any variable consideration is constrained, since such amounts for which it is probable that a significant reversal will occur when the contingency is subsequently resolved are required to be excluded from revenues. Price adjustments are finalized at the time the products are sold through to the end customer and the distributor or end customer submits a claim to reduce the sale price to a pre-approved net price. Stock rotation allowances are capped at a fixed percentage of the Company's sales to a distributor for a period of time, up to six months, as specified in the individual distributor contract. If the Company's current estimates of such credits and rights are materially inaccurate, it may result in adjustments that affect future revenues and gross profits. Returns under the Company's general assurance warranty of products for a period of one to three years have not been material and warranty-related services are not considered a separate performance obligation under the customer contracts. Most of the Company's customers resell our product as part of their product and thus are tax-exempt; however, to the extent the Company collects and remits taxes on product sales from customers, it has elected to exclude from the measurement of transaction price such taxes. Each distinct promise to transfer products is considered to be an identified performance obligation for which revenue is recognized upon transfer of control of the products to the customer. Although customers may place orders for products to be delivered on multiple dates that may be in different quarterly reporting periods, all of the orders are scheduled within 1 year from the order date. The Company has opted to not disclose the portion of revenues allocated to partially unsatisfied performance obligations, which represent products to be shipped within 12 months under open customer purchase orders, at the end of the current reporting period as allowed under ASC 606. The Company has also elected to record sales commissions when incurred, pursuant to the practical expedient under ASC 340, as the period over which the sales commission asset that would have been recognized is less than one year. Customer contract liabilities consist of obligations to deliver rebates to customers in the form of units of products which are included in accrued expenses and other current liabilities in the consolidated balance sheets. Other obligations to customers consist of estimates of price protection rights offered to the Company's end customers, which are included in accrued price protection liability in the consolidated balance sheets, as well as price adjustments expected to be claimed by the distributor upon sell-through of the products to their customers, and amounts expected to be returned by distributors under stock rotation rights, which are included in accrued expenses and other current liabilities in the consolidated balance sheets. The Company also records a right of return asset, consisting of amounts representing the products the Company expects to receive from customers in returns, which is included in inventory in the consolidated balance sheets, and is typically settled within six months of transfer of control to the customer, or the period over which stock rotation rights are based. Upon lapse of the time period for stock rotations, or the contractual end to price protection and rebate programs, which is approximately one to two years, and when the Company believes unclaimed amounts are no longer subject to payment and will not be paid, any remaining asset or liability is derecognized by an offsetting entry to cost of net revenue and net revenue. For additional disclosures regarding contract liabilities and other obligations to customers, see Note 14 . The Company assesses customer accounts receivable and contract assets for impairment in accordance with ASC 310-10-35. The following tables present the amounts by which each financial statement line item was affected as a result of applying ASC 606: Year Ended December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands, except per share amounts) Consolidated statement of operations: Net revenue $ 370,033 $ 14,964 $ 384,997 Cost of net revenue 170,719 5,504 176,223 Gross profit 199,314 9,460 208,774 Loss from operations (28,557 ) 9,460 (19,097 ) Loss before income taxes (42,312 ) 9,460 (32,852 ) Income tax benefit (8,640 ) 1,987 (6,653 ) Net loss (33,672 ) 7,473 (26,199 ) Basic and diluted loss per share (0.49 ) 0.11 (0.38 ) December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands) Consolidated balance sheet: Accounts receivable $ 59,491 $ — $ 59,491 Inventory 41,470 268 41,738 Total current assets 180,343 268 180,611 Total assets 738,563 268 738,831 Deferred revenue and deferred profit 19,499 (19,499 ) — Accrued expenses and other current liabilities 12,860 10,660 23,520 Total current liabilities 79,406 (8,839 ) 70,567 Total liabilities 347,734 (8,839 ) 338,895 Accumulated deficit (102,737 ) 9,107 (93,630 ) Total stockholders' equity 390,829 9,107 399,936 Total liabilities and stockholders' equity 738,563 268 738,831 The impacts of adopting ASC 606 as shown above were primarily related to the acceleration of the timing of the Company’s revenue and related cost recognition on products sold via some of its distributors, which changed from sale to the distributors' end customers, or the sell-through method, to recognition upon the Company's sale to the distributor, or the sell-in method. Revenues from sales through the Company’s distributors accounted for 42% , 34% and 19% of net revenue for the years ended December 31, 2018 , 2017 and 2016 , respectively. |
Warranty | Warranty The Company generally provides a warranty on its products for a period of one to three years. The Company makes estimates of product return rates and expected costs to replace the products under warranty at the time revenue is recognized based on historical warranty experience and any known product warranty issues. If actual return rates and/or replacement costs differ significantly from these estimates, adjustments to recognize additional cost of net revenue may be required in future periods. As of December 31, 2018 and 2017 , the Company has warranty reserves of $0.5 million and $0.9 million , respectively, based on the Company’s estimates. |
Segment Reporting, Policy [Policy Text Block] | Segment Information The Company operates in one segment as it has developed, marketed and sold primarily only one class of similar products, radio-frequency, high-performance analog and mixed-signal communications system-on-chip solutions for the connected home, wired and wireless infrastructure markets and industrial and multi-market applications. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has one business activity and there are no segment managers who are held accountable for operations, operating results and plans for products or components below the consolidated unit level. Accordingly, the Company reports as a single operating segment. |
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 equity incentive awards, including restricted stock units and restricted stock awards, employee stock purchase rights and stock options based on the grant date fair value of the award. The Company calculates the fair value of restricted stock units and restricted stock awards based on the fair market value of its common stock on the grant date. The Company uses the Black-Scholes valuation model to calculate the fair value of stock options and employee stock purchase rights granted to employees. Stock-based compensation expense is recognized over the period during which the employee is required to provide services in exchange for the award, which is usually the vesting period. The Company recognizes compensation expense over the vesting period using the straight-line method and classifies these amounts in the consolidated statements of operations based on the department to which the related employee reports. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs incurred in connection with the development of the Company’s technology and future products are charged to research and development expense as incurred. |
Derivatives, Policy [Policy Text Block] | Derivatives and Hedging Activities The Company records derivatives in the consolidated balance sheets at fair value. Hedge accounting is applied to derivatives designated in a hedging relationship. A derivative designated as a hedge of a forecasted transaction is carried at fair value with the effective portion of a derivative’s gain or loss recorded in other comprehensive income (i.e., a separate component of stockholders’ equity) and subsequently recognized in earnings in the same period or periods the hedged forecasted transaction affects earnings. The ineffective portion of a derivative’s gain or loss is recorded in earnings as it occurs. Changes in certain terms of the hedged transactions, including the selection of interest rate from one-month LIBOR to another rate could cause ineffectiveness in the derivatives and result in reclassification of amounts in accumulated other comprehensive income (loss) into earnings. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company provides for income taxes utilizing the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. Deferred taxes are presented net as noncurrent. The provision for income taxes generally represents income taxes paid or payable for the current year plus the change in deferred taxes during the year. Deferred taxes result from the differences between the financial and tax bases of the Company’s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when a judgment is made that is considered more likely than not that a tax benefit will not be realized. A decision to record a valuation allowance results in an increase in income tax expense or a decrease in income tax benefit. If the valuation allowance is released in a future period, income tax expense will be reduced accordingly. The calculation of tax liabilities involves dealing with uncertainties in the application of complex global tax regulations. The impact of an uncertain income tax position is recognized at the largest amount that is “more likely than not” to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. If the estimate of tax liabilities proves to be less than the ultimate assessment, a further charge to expense would result. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company continually assesses the need for a valuation allowance on the deferred tax asset by evaluating both positive and negative evidence that may exist. Any adjustment to the net deferred tax asset valuation allowance would be recorded in the income statement for the period that the adjustment is determined to be required. On December 22, 2017, the Tax Cuts and Jobs Act, or the Tax Act, was enacted into U.S. tax law. Also on December 22, 2017, the SEC issued guidance in Staff Accounting Bulletin No. 118, or SAB 118, to address certain fact patterns where the accounting for changes in tax laws or tax rates under ASC Topic 740 is incomplete upon issuance of an entity's financial statements for the reporting period in which the Tax Act is enacted. As permitted in SAB 118, in 2017, the Company took a measurement period approach and reported certain provisional amounts, based on reasonable estimates, for certain tax effects in which the accounting under ASC 740 was incomplete. Such provisional amounts were subject to adjustment during a limited measurement period, not to extend one year beyond the tax law enactment date. The Company has completed the accounting required under ASC 740 in a timely manner. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity (net assets) of a business entity during a period from transactions and other events and circumstances from non-owner sources. Other comprehensive income (loss) includes certain changes in equity that are excluded from net income (loss), net of tax, such as foreign currency translation gains and losses, and unrealized gains and losses from interest rate hedging activities. The following table summarizes the balances in accumulated other comprehensive income (loss) by component: Cumulative Translation Adjustments Interest Rate Hedge Total (in thousands) Balance at December 31, 2018 $ (907 ) $ 1,179 $ 272 Balance at December 31, 2017 $ 562 $ 477 $ 1,039 |
Litigation and Settlement Costs | Litigation and Settlement Costs Legal costs are expensed as incurred. The Company is involved in disputes, litigation and other legal actions in the ordinary course of business. The Company continually evaluates uncertainties associated with litigation and records a charge equal to at least the minimum estimated liability for a loss contingency when both of the following conditions are met: (i) information available prior to issuance of the financial statements indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial statements and (ii) the loss or range of loss can be reasonably estimated. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements In May 2014, the FASB, issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides for new accounting guidance related to revenue recognition. This new standard replaced all prior U.S. GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance became effective for the Company on January 1, 2018 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company applied the guidance prospectively with an adjustment to accumulated deficit for the cumulative effect of adoption. Adoption of the amendments in this guidance accelerated the timing of the Company’s revenue and related cost recognition on products sold via some distributors, which changed from the sell-through method to the sell-in method under this guidance. The Company is also required to estimate the effects of pricing credits to its distributors from contractual price protection and unit rebate provisions, as well as stock rotation rights. The Company has completed its assessment of the impact of adopting this new accounting standard on the Company's consolidated financial position and results of operations for the year ended December 31, 2018; such impact is disclosed above, under the caption "Significant Accounting Policies—Revenue Recognition." The impact to accumulated deficit as of January 1, 2018 was not material. As a result of applying the guidance prospectively with an adjustment to accumulated deficit in the Company's consolidated financial statements for the cumulative effect of adoption, revenues that would have been recognized on a sell-through basis for the amount of deferred revenue and profit remaining as of the adoption date will not be recognized in earnings for any period. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . The amendments in this update include, among other things, a requirement to (1) measure equity investments (except equity method investments) at fair value with changes in fair value recognized in net income, with an option to measure equity investments that do not have readily determinable fair values at cost minus any impairment plus or minus any changes resulting from observable price changes; previously changes in fair value were recognized in other comprehensive income, and (2) separately present financial assets and liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statement. The amendments in this update were effective for the Company beginning in the first quarter of fiscal year 2018. The adoption of the amendments in this update did not have a material impact on the Company's consolidated financial position and results of operations for the year ended December 31, 2018. In March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net ) to clarify the revenue recognition implementation guidance on principal versus agent considerations. The amendments in this update clarify that when another party is involved in providing goods or services to a customer, an entity that is the principal has obtained control of a good or service before it is transferred to a customer, and provides indicators to assist an entity in determining whether it controls a specified good or service prior to the transfer to the customer. An entity that is the principal recognizes revenue in the gross amount of consideration to which it expects to be entitled in exchange for the specified good or service transferred to the customer, whereas an agent recognizes revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified good or service to be provided by the other party. The amendments in this update were effective for the Company beginning in the first quarter of fiscal year 2018, concurrent with and applied on the same basis as the new revenue recognition standard. The adoption of the amendments in this update did not have a material impact on the Company's consolidated financial position and results of operations for the year ended December 31, 2018. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments to eliminate the diversity in practice regarding the presentation and classification of certain cash receipts and cash payments, including, among other things, contingent consideration payments made following a business combination, proceeds from the settlement of insurance claims in the statement of cash flows, and debt prepayment or debt extinguishment costs. Cash payments not made soon after the acquisition date up to the amount of the contingent consideration liability recognized at the acquisition date should be classified as financing activities and any excess payments should be classified as operating activities, whereas cash payments made soon after the acquisition date to settle the contingent consideration should be classified as investing activities and cash payments for debt prepayment or debt extinguishment costs should be classified as financing activities. Cash proceeds received from settlement of insurance claims should be classified on the basis of the nature of the related losses. The amendments in this update should be applied using a retrospective transition method to each period presented, unless impracticable, and if impracticable, would be applied prospectively as of the earliest date practicable. The amendments in this update were effective for the Company beginning in the first quarter of fiscal year 2018. The adoption of the amendments in this update did not have a material impact on the Company's consolidated statements of cash flows for the year ended December 31, 2018. In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting to provide clarity and reduce both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The amendments in this update require the Company to account for the effects of a modification in a stock-based award unless the fair value, vesting conditions and classification of the modified award is the same as those of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification. The amendments in this update were effective for the Company for fiscal years beginning with fiscal year 2018, including interim periods within those years, with early adoption permitted in any interim period. The amendments in this update are applied prospectively to an award modified on or after the adoption date. Since the Company has not had any modifications to stock-based awards that do not affect the inputs into the Black Scholes fair value calculation, the adoption of this guidance did not have a material impact on the Company's consolidated financial position and results of operations for the year ended December 31, 2018. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act, or the Tax Act. The Tax Act makes broad and complex changes to the U.S. tax code. On December 22, 2017, the U.S. Securities and Exchange Commission Staff, or SEC Staff, issued guidance in Staff Accounting Bulletin No. 118, or SAB 118, to address certain fact patterns where the accounting for changes in tax laws or tax rates under ASC Topic 740 is incomplete upon issuance of an entity's financial statements for the reporting period in which the Tax Act is enacted. As permitted in SAB 118, in 2017, the Company took a measurement period approach and reported certain provisional amounts, based on reasonable estimates, for certain tax effects in which the accounting under ASC 740 is incomplete. Such provisional amounts are subject to adjustment during a limited measurement period, not to extend one year beyond the tax law enactment date, until the accounting under ASC 740 is complete. The Company completed the accounting required under ASC 740 in 2018; however as new guidance and interpretations of the tax law become available, any further adjustments related to the enacted tax laws could result in a material adverse impact on the Company's net income and our financial position in 2019. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. The amendments in this update are effective for the Company beginning in fiscal 2019, including interim periods. Early adoption is permitted. The amendments should be applied either in the period of adoption or retrospectively to each period or periods in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company elected to early adopt this guidance in the year ended December 31, 2018. The adoption of this guidance did not have a material impact on the Company's consolidated financial position and results of operations for the year ended December 31, 2018. In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 . The amendments in this update amend the SEC paragraphs included in Topic 740 to be consistent with the guidance in SAB 118, which the Company adopted in the year ended December 31, 2017, as described above. In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. As a result, the accounting for share-based payment awards to nonemployees and employees will be substantially aligned by eliminating the need to measure nonemployee share-based awards at fair value on the earlier of performance commitment date or date performance is complete. Both employee and nonemployee share-based awards are now measured at grant-date fair value. The amendments in this update are effective for the Company beginning with fiscal year 2019, including interim periods, with early adoption permitted, but no earlier than the Company's adoption of Topic 606. The Company elected to early adopt the amendments in this update as of July 1, 2018, with the cumulative effect of the change recorded against accumulated deficit as of July 1, 2018. As the Company's nonemployee share-based awards are not significant, such adoption did not have a material impact on the Company's consolidated accumulated deficit as of July 1, 2018. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this update require a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases with terms greater than twelve months. For leases less than twelve months, an entity is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The Company intends to make this election, along with other available practical expedients. Also, in July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , to provide an additional transition method. An entity can now elect not to present comparative financial information under Topic 842 if it recognizes a cumulative-effect adjustment to retained earnings upon adoption. The Company also intends to make this election. The amendments in these update are effective for the Company for fiscal years beginning with 2019, including interim periods within those years, with early adoption permitted. The Company has performed an assessment of the impact of the adoption of the amendments in these updates on the Company's consolidated financial position and results of operations for the Company's leases, which primarily consist of facility leases. Based on that assessment, the Company has estimated that the adoption of Topic 842 will result in the recognition of approximately $24 million of right-of-use assets and lease liabilities as of January 1, 2019 based on the present value of future minimum lease payments. Also, the impacts from the adoption of Topic 842 to the Company's accumulated deficit as of January 1, 2019 and to consolidated results of operations for the year ending December 31, 2019 are not expected to be material. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if the reporting unit had been acquired in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The Board also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. The amendments in this update are effective for the Company beginning with fiscal year 2020, including interim periods, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations. In July 2018, the FASB issued ASU No. 2018-09, Codification Improvements , to clarify the Codification and prevent unintended application of the guidance. An amendment to ASC 718-740, Compensation—Stock Compensation—Income Taxes , clarifies that excess tax benefits should be recognized in the period in which the amount of the deduction is determined. The transition and effective date guidance is based on the facts and circumstances of each amendment. The amendment identified above will be effective for the Company beginning with fiscal year 2019. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815), which is intended to improve accounting for hedging activities by expanding and refining hedge accounting for both nonfinancial and financial risk components and aligning the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The amendments in this update are effective for us for fiscal years beginning with fiscal year 2019, including interim periods within those years, with early adoption permitted in any interim period. The amendments in this update should be applied prospectively. We are currently evaluating the expected impact of the amendments, but do not expect these to have a material impact on our consolidated financial statements upon adoption. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases , to clarify on how to apply certain aspects of the new lease accounting standard. The amendments in this update, among other things, better articulates the requirement for a lessee's reassessment of lease classification as of the effective date of a modification, clarifies that a change to an index or rate for variable lease payments does not constitute a resolution of a contingency that would result in the remeasurement of lease payments, and requires entities that apply Topic 842 retrospectively to each reporting period and do not adopt the practical expedients to write off any prior unamortized initial direct costs that do not meet the definition under Topic 842 to equity. The amendments in this update have the same effective date and transition requirements as the new lease standard summarized above. The Company has disclosed the impact of adoption of Topic 842 on the Company’s consolidated financial position and results of operations as stated above. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework— Changes to the Disclosure Requirements for Fair Value Measurement , to improve the fair value measurement reporting of financial instruments. The amendments in this update require, among other things, added disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update eliminate, among other things, disclosure of the reasons for and amounts of transfers between Level 1 and Level 2 for assets and liabilities that are measured at fair value on a recurring basis and an entity's valuation processes for Level 3 fair value measurements. The amendments in this update will be effective for the Company beginning with fiscal year 2020, with early adoption permitted. Retrospective application is required for all amendments in this update except the added disclosures, which should be applied prospectively. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations. In August 2018, the FASB issued ASU No. 2018-15, Intangibles- Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract , to provide additional guidance on the accounting for costs of implementing cloud computing arrangements that are service contracts. The amendments in this update require the capitalization of implementation costs during the application development stage of such hosting arrangements and amortization of the expense over the term of the arrangement including any option to extend reasonably certain to be exercised or option to terminate reasonably certain not to be exercised. Capitalized implementation costs and amortization thereof are also required to be classified in the same line item in the statements of financial position, operations and cash flows associated with the hosting service fees. The amendments in this update will be effective for the Company beginning with fiscal year 2020, with early adoption permitted. Entities may select retrospective or prospective application to all implementation costs incurred after the adoption date. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations. |
Organization and Summary of S_3
Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Effect of Adoption of ASC 606 | The following tables present the amounts by which each financial statement line item was affected as a result of applying ASC 606: Year Ended December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands, except per share amounts) Consolidated statement of operations: Net revenue $ 370,033 $ 14,964 $ 384,997 Cost of net revenue 170,719 5,504 176,223 Gross profit 199,314 9,460 208,774 Loss from operations (28,557 ) 9,460 (19,097 ) Loss before income taxes (42,312 ) 9,460 (32,852 ) Income tax benefit (8,640 ) 1,987 (6,653 ) Net loss (33,672 ) 7,473 (26,199 ) Basic and diluted loss per share (0.49 ) 0.11 (0.38 ) December 31, 2018 Amounts under Legacy GAAP Impact of Adoption As reported (in thousands) Consolidated balance sheet: Accounts receivable $ 59,491 $ — $ 59,491 Inventory 41,470 268 41,738 Total current assets 180,343 268 180,611 Total assets 738,563 268 738,831 Deferred revenue and deferred profit 19,499 (19,499 ) — Accrued expenses and other current liabilities 12,860 10,660 23,520 Total current liabilities 79,406 (8,839 ) 70,567 Total liabilities 347,734 (8,839 ) 338,895 Accumulated deficit (102,737 ) 9,107 (93,630 ) Total stockholders' equity 390,829 9,107 399,936 Total liabilities and stockholders' equity 738,563 268 738,831 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the balances in accumulated other comprehensive income (loss) by component: Cumulative Translation Adjustments Interest Rate Hedge Total (in thousands) Balance at December 31, 2018 $ (907 ) $ 1,179 $ 272 Balance at December 31, 2017 $ 562 $ 477 $ 1,039 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Summary of Basic and Diluted Earnings Per Share | Years Ended December 31, 2018 2017 2016 (in thousands, except per share amounts) Numerator: Net income (loss) $ (26,199 ) $ (9,187 ) $ 61,292 Denominator: Weighted average common shares outstanding—basic 68,490 66,252 63,781 Dilutive common stock equivalents — — 3,872 Weighted average common shares outstanding—diluted 68,490 66,252 67,653 Net income (loss) per share: Basic $ (0.38 ) $ (0.14 ) $ 0.96 Diluted $ (0.38 ) $ (0.14 ) $ 0.91 |
Restructuring Activity Restruct
Restructuring Activity Restructuring Activity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following table presents the activity related to the plans, which is included in restructuring charges in the consolidated statements of operations : Years Ended December 31, 2018 2017 2016 (in thousands) Employee separation expenses $ 2,094 $ 8,353 $ 1,038 Lease related expenses 1,608 1,025 2,264 Other 136 146 130 $ 3,838 $ 9,524 $ 3,432 |
Restructuring activity and rollforward of restructuring liability | The following table presents a roll-forward of the Company's restructuring liability for the years ended December 31, 2018 and 2017 . The restructuring liability is included in accrued expenses and other current liabilities in the consolidated balance sheets. Employee Separation Expenses Lease Related Expenses Other Total (in thousands) Liability as of December 31, 2016 $ — $ 499 $ 37 $ 536 Transfers from deferred rent — 4,405 — 4,405 Restructuring charges 8,353 1,025 146 9,524 Assumed in acquisition — — 70 70 Cash payments (2,984 ) (2,861 ) (146 ) (5,991 ) Non-cash charges (5,130 ) (375 ) — (5,505 ) Liability as of December 31, 2017 239 2,693 107 3,039 Restructuring charges 2,094 1,608 136 3,838 Cash payments (1,924 ) (1,884 ) (196 ) (4,004 ) Non-cash charges — (927 ) — (927 ) Liability as of December 31, 2018 $ 409 $ 1,490 $ 47 $ 1,946 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets Tables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | The following table presents the changes in the carrying amount of goodwill for the periods indicated: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 237,992 $ 76,015 Acquisitions — 162,318 Adjustments 338 (341 ) Ending balance $ 238,330 $ 237,992 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and other purchases, which continue to be amortized: December 31, 2018 December 31, 2017 Weighted Average Useful Life (in Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount (in thousands) Licensed technology 3.7 $ 2,070 $ (1,130 ) $ 940 $ 2,070 $ (575 ) $ 1,495 Developed technology 6.9 238,961 (74,630 ) 164,331 241,561 (39,252 ) 202,309 Trademarks and trade names 6.1 13,800 (4,252 ) 9,548 13,800 (1,992 ) 11,808 Customer relationships 4.6 121,100 (55,647 ) 65,453 121,100 (26,661 ) 94,439 Non-compete covenants 3.0 1,100 (872 ) 228 1,100 (506 ) 594 6.1 $ 377,031 $ (136,531 ) $ 240,500 $ 379,631 $ (68,986 ) $ 310,645 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | The following table sets forth amortization expense associated with finite-lived intangible assets, which is included in the consolidated statements of operations as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Cost of net revenue $ 35,821 $ 25,316 $ 8,512 Research and development 150 551 619 Selling, general and administrative 31,976 28,827 6,953 $ 67,947 $ 54,694 $ 16,084 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following table sets forth activity during the years ended December 31, 2018 and 2017 related to finite-lived intangible assets: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 310,645 $ 81,861 Acquisitions — 245,500 Other additions — 5,378 Transfers to developed technology from IPR&D — 32,600 Amortization (67,947 ) (54,694 ) Impairment losses (2,198 ) — Ending balance $ 240,500 $ 310,645 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table presents future amortization of the Company’s finite-lived intangible assets at December 31, 2018 : Amortization (in thousands) 2019 $ 56,819 2020 55,954 2021 55,171 2022 37,641 2023 25,446 Thereafter 9,469 Total $ 240,500 |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | The following table sets forth the Company’s activities related to the indefinite-lived intangible assets: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 4,400 $ 22,400 Acquisitions — 16,600 Transfers to developed technology from IPR&D — (32,600 ) Impairment losses — (2,000 ) Ending balance $ 4,400 $ 4,400 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Available-for-sale Securities [Table Text Block] | The composition of financial instruments is as follows: December 31, 2018 December 31, 2017 (in thousands) Assets Interest rate swap $ 1,623 $ 734 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis: Fair Value Measurements Balance Quoted Prices Significant Significant (in thousands) Assets Interest rate swap, December 31, 2018 $ 1,623 $ — $ 1,623 $ — Interest rate swap, December 31, 2017 $ 734 $ — $ 734 $ — |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | The following table summarizes activity for the interest rate swap: Fair Value at December 31, 2018 2017 (in thousands) Interest rate swap asset Beginning balance $ 734 $ — Unrealized gain recognized in other comprehensive income (loss) 889 734 Ending balance $ 1,623 $ 734 |
Balance Sheet Details (Tables)
Balance Sheet Details (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Balance Sheet Related Disclosures [Abstract] | |
Cash, Cash Equivalents and Investments | Cash, cash equivalents, and restricted cash consist of the following: December 31, 2018 December 31, 2017 (in thousands) Cash and cash equivalents $ 73,142 $ 71,872 Short-term restricted cash 645 1,476 Long-term restricted cash 404 1,064 Total cash, cash equivalents and restricted cash $ 74,191 $ 74,412 |
Inventory | Inventory consists of the following: December 31, 2018 December 31, 2017 (in thousands) Work-in-process $ 17,618 $ 21,823 Finished goods 24,120 31,611 $ 41,738 $ 53,434 |
Property and Equipment | Property and equipment consist of the following: Useful Life (in Years) December 31, 2018 December 31, 2017 (in thousands) Furniture and fixtures 5 $ 2,020 $ 2,105 Machinery and equipment 3-5 34,225 33,462 Masks and production equipment 2 12,645 11,470 Software 3 5,675 4,695 Leasehold improvements 1-5 17,493 14,340 Construction in progress N/A 133 639 72,191 66,711 Less accumulated depreciation and amortization (53,787 ) (44,053 ) $ 18,404 $ 22,658 |
Deferred Revenue and Deferred Profit | Deferred revenue and deferred profit consist of the following: December 31, 2018 December 31, 2017 (1) (in thousands) Deferred revenue—rebates $ — $ 156 Deferred revenue—distributor transactions — 5,341 Deferred cost of net revenue—distributor transactions — (1,135 ) $ — $ 4,362 __________ (1) Due to the adoption of ASC 606 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sell-through method, which required the deferral of revenue and profit on such distributor sales. |
Price Protection Liability | Accrued price protection liability consists of the following activity: Years Ended December 31, 2018 2017 (in thousands) Beginning balance $ 21,571 $ 15,176 Charged as a reduction of revenue 34,288 46,520 Reversal of unclaimed rebates (2,413 ) (101 ) Payments (36,992 ) (40,024 ) Ending balance $ 16,454 $ 21,571 |
Accrued Expenses | Accrued expenses and other current liabilities consist of the following: December 31, 2018 December 31, 2017 (1) (in thousands) Accrued technology license payments $ 4,500 $ 4,500 Accrued professional fees 1,270 1,497 Accrued engineering and production costs 646 2,378 Accrued restructuring 1,946 3,039 Accrued royalty 980 1,206 Accrued leases—other 1,214 1,105 Accrued customer credits 1,204 2,667 Income tax liability 1,642 — Customer contract liabilities 71 — Accrued obligations to customers for price adjustments 7,558 — Accrued obligations to customers for stock rotation rights 1,494 — Other 995 3,914 $ 23,520 $ 20,306 ___________ (1) Due to the adoption of ASC 606 using the modified retrospective method, prior period amounts have not been adjusted to include customer contract liabilities and accrued obligations to customers for price adjustments and stock rotation rights, which are now required to be estimated and disclosed at the time of sale. |
Debt and Interest Rate Swap (Ta
Debt and Interest Rate Swap (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | The carrying amount of the Company's long-term debt consists of the following: December 31, 2018 December 31, 2017 (in thousands) Principal $ 262,000 $ 355,000 Less: Unamortized debt discount (1,630 ) (1,930 ) Unamortized debt issuance costs (4,613 ) (5,461 ) Net carrying amount of long-term debt 255,757 347,609 Less: current portion of long-term debt — — Long-term debt, non-current portion $ 255,757 $ 347,609 |
Stock-Based Compensation and Em
Stock-Based Compensation and Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | The Company recognizes stock-based compensation expense in the consolidated statements of operations , based on the department to which the related employee reports, as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Cost of net revenue $ 489 $ 332 $ 210 Research and development 17,953 16,190 14,403 Selling, general and administrative 13,279 11,016 7,152 Restructuring expense — 5,130 — $ 31,721 $ 32,668 $ 21,765 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | A summary of the Company’s restricted stock unit and restricted stock award activity for the year ended December 31, 2018 is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2017 3,183 $ 20.13 Granted 2,460 19.40 Vested (1,736 ) 18.64 Canceled (644 ) 20.90 Outstanding at December 31, 2018 3,263 20.23 |
Fair Value of Employee Stock Purchase Rights | The fair values of employee stock purchase rights were estimated using the Black-Scholes option pricing model at their respective grant date using the following assumptions: Years Ended December 31, 2018 2017 2016 Weighted-average grant date fair value per share $5.01 - $5.37 $6.20 - $7.46 $5.85 - $6.20 Risk-free interest rate 2.09 - 2.51% 0.60 - 1.39% 0.38 - 0.6% Dividend yield — % — % — % Expected term (in years) 0.5 0.38 - 0.50 0.5 Volatility 38.82 - 46.17% 29.56 - 49.94% 49.94 - 53.94% |
Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the Company’s stock option activity for the year ended December 31, 2018 is as follows: Number of Options (in thousands) Weighted-Average Exercise Price Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2017 3,069 $ 8.95 Granted 335 18.40 Exercised (636 ) 7.04 Canceled (109 ) 16.82 Outstanding at December 31, 2018 2,659 $ 10.27 2.23 $ 20,800 Vested and expected to vest at December 31, 2018 2,630 $ 10.19 2.19 $ 20,782 Exercisable at December 31, 2018 2,184 $ 8.71 1.43 $ 20,322 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair values of stock options granted were estimated using the Black-Scholes option pricing model on the grant date using the following assumptions: Years Ended December 31, 2018 2017 (1) 2016 (2) Weighted-average grant date fair value per share $ 8.14 8.77 - 21.04 N/A Risk-free interest rate 2.76 % 1.29% - 1.99% N/A Dividend yield — % — % N/A Expected term (in years) 5.5 1.6 - 6.0 N/A Volatility 44.30 % 45.39% - 50.32% N/A |
Income Taxes Income Tax (Tables
Income Taxes Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The domestic and international components of income (loss) before income taxes are presented as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Domestic $ 16,405 $ 42,580 $ 75,778 Foreign (49,257 ) (76,578 ) (12,088 ) Income (loss) before income taxes $ (32,852 ) $ (33,998 ) $ 63,690 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The income tax provision (benefit) consists of the following: Years Ended December 31, 2018 2017 2016 (in thousands) Current: Federal $ 3,292 $ 13,470 $ 1,216 State 37 26 (11 ) Foreign 1,640 1,784 1,092 Total current 4,969 15,280 2,297 Deferred: Federal 788 19,451 17,492 State (2,799 ) (4,668 ) (8,271 ) Foreign (3,884 ) (3,697 ) (2,459 ) Change in valuation allowance (5,727 ) (51,177 ) (6,661 ) Total deferred (11,622 ) (40,091 ) 101 Total income tax provision (benefit) $ (6,653 ) $ (24,811 ) $ 2,398 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The actual income tax provision (benefit) differs from the amount computed using the federal statutory rate as follows: Years Ended December 31, 2018 2017 2016 (in thousands) Provision (benefit) at statutory rate $ (6,814 ) $ (11,899 ) $ 22,294 State income taxes (net of federal benefit) 20 17 (13 ) Research and development credits (8,849 ) (8,153 ) (9,076 ) Foreign rate differential 8,640 23,666 2,888 Stock compensation 74 (5,713 ) (5,756 ) Foreign deemed dividend 1,103 — 51 Transaction costs — 553 749 Provision to return (27 ) (917 ) — Uncertain tax positions 1,463 1,993 (1,204 ) Foreign tax credits — (5 ) (72 ) Permanent and other 1,319 1,730 (802 ) Foreign unremitted earnings 1,960 (1,368 ) — Tax Act 185 25,205 — Other tax rate changes — 1,257 — Valuation allowance (5,727 ) (51,177 ) (6,661 ) Total income tax provision (benefit) $ (6,653 ) $ (24,811 ) $ 2,398 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The components of the deferred income tax assets are as follows: December 31, 2018 2017 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 64,887 $ 77,355 Research and development credits 75,032 69,668 Accrued expenses and other 7,965 10,506 Accrued compensation 2,504 2,444 Stock-based compensation 2,550 2,659 Intangible assets — — 152,938 162,632 Less valuation allowance (79,196 ) (84,560 ) 73,742 78,072 Deferred tax liabilities: Fixed assets (1,391 ) (1,777 ) Intangible assets (20,833 ) (35,981 ) Unremitted foreign earnings — (436 ) Net deferred tax assets $ 51,518 $ 39,878 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | The following table summarizes the changes to the unrecognized tax benefits during 2018 , 2017 and 2016 : (in thousands) Balance as of December 31, 2015 $ 26,053 Additions based on tax positions related to the current year 2,025 Decreases based on tax positions of prior year (4,661 ) Balance as of December 31, 2016 $ 23,417 Additions based on tax positions related to the current year 3,037 Additions related to acquisitions 37,090 Decreases based on tax positions of prior year (458 ) Balance as of December 31, 2017 $ 63,086 Additions based on tax positions related to the current year 3,080 Decreases based on tax positions of prior year (4,696 ) Balance as of December 31, 2018 $ 61,470 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Payments Under Operating Leases | As of December 31, 2018 , future minimum payments under non-cancelable operating leases, inventory purchase and other obligations are as follows: Operating Leases Inventory Purchase Obligations Other Obligations Total (in thousands) 2019 $ 9,365 $ 65,661 $ 8,386 $ 83,412 2020 9,576 — 4,424 14,000 2021 9,286 — 693 9,979 2022 4,511 — 425 4,936 2023 1,205 — 447 1,652 Thereafter — — — — Total minimum payments $ 33,943 $ 65,661 $ 14,375 $ 113,979 As of December 31, 2018 , future minimum rental income under non-cancelable subleases are as follows: Amount (in thousands) 2019 $ 3,566 2020 4,036 2021 4,057 2022 782 2023 291 Thereafter — Total minimum rental income $ 12,732 |
Future Minimum Payments Under Other Obligations | As of December 31, 2018 , future minimum payments under non-cancelable operating leases, inventory purchase and other obligations are as follows: Operating Leases Inventory Purchase Obligations Other Obligations Total (in thousands) 2019 $ 9,365 $ 65,661 $ 8,386 $ 83,412 2020 9,576 — 4,424 14,000 2021 9,286 — 693 9,979 2022 4,511 — 425 4,936 2023 1,205 — 447 1,652 Thereafter — — — — Total minimum payments $ 33,943 $ 65,661 $ 14,375 $ 113,979 |
Future Minimum Payments Under Inventory Purchase Obligations | As of December 31, 2018 , future minimum payments under non-cancelable operating leases, inventory purchase and other obligations are as follows: Operating Leases Inventory Purchase Obligations Other Obligations Total (in thousands) 2019 $ 9,365 $ 65,661 $ 8,386 $ 83,412 2020 9,576 — 4,424 14,000 2021 9,286 — 693 9,979 2022 4,511 — 425 4,936 2023 1,205 — 447 1,652 Thereafter — — — — Total minimum payments $ 33,943 $ 65,661 $ 14,375 $ 113,979 |
Significant Customer and Geog_2
Significant Customer and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Suppliers comprising greater than 10% of total inventory purchases are as follows: Years ended December 31, 2018 2017 2016 Vendor A 16 % 21 % 16 % Vendor B 19 % 16 % 13 % Vendor C 15 % 15 % 11 % Vendor D * 14 % 11 % Vendor E 13 % 11 % 18 % Vendor F * * 12 % Balances greater than 10% of accounts receivable, based on the Company's billings to the contract manufacturer customers, are as follows: December 31, 2018 2017 Percentage of gross accounts receivable Customer C * 17 % Customer D * 10 % Customer E 10 % * Customers comprising greater than 10% of net revenues for each of the periods presented are as follows: Years Ended December 31, 2018 2017 2016 Percentage of total net revenue Customer A 18 % 25 % 27 % Customer B * * 10 % * Represents less than 10% of the net revenue for the respective period. The products shipped to individual countries representing greater than 10% of net revenue for each of the periods presented are as follows: Years Ended December 31, 2018 2017 2016 Percentage of total net revenue China 63 % 71 % 78 % |
Revenue from External Customers by Geographic Areas [Table Text Block] | The Company's consolidated net revenues by geographic area based on ship-to location are as follows (in thousands): Years Ended December 31, 2018 2017 2016 Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Asia $ 312,877 81 % $ 372,103 89 % $ 360,325 93 % United States 18,060 5 % 10,829 2 % 9,181 2 % Rest of world 54,060 14 % 37,386 9 % 18,326 5 % Total $ 384,997 100 % $ 420,318 100 % $ 387,832 100 % |
Long-lived Assets by Geographic Areas [Table Text Block] | Long-lived assets, which consists of property and equipment, intangible assets, and goodwill, by geographic area are as follows (in thousands): As of December 31, 2018 2017 Amount % of total Amount % of total United States $ 426,321 85 % $ 481,638 84 % Singapore 71,945 14 % 92,414 16 % Rest of world 3,368 1 % 1,643 — % Total $ 501,634 100 % $ 575,695 100 % |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from External Customers by Products and Services | The table below presents disaggregated net revenues by market (in thousands): Years Ended December 31, 2018 2017 (1) 2016 (1) Connected home $ 207,336 $ 288,610 $ 346,990 % of net revenue 54 % 69 % 89 % Infrastructure 82,388 71,779 37,411 % of net revenue 21 % 17 % 10 % Industrial and multi-market 95,273 59,929 3,431 % of net revenue 25 % 14 % 1 % Total net revenue $ 384,997 $ 420,318 $ 387,832 ______________ (1) Due to the adoption of ASC 606 using the modified retrospective method, prior period amounts have not been adjusted to reflect the change to recognize certain distributor sales upon sale to the distributor, or the sell-in method, from recognition upon the Company's sale to the distributors' end customers, or the sell-through method, which required the deferral of revenue and profit on such distributor sales. |
Selected Quarterly Financial _2
Selected Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | Year Ended December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands, except per share amounts) Net revenue $ 110,827 $ 101,533 $ 85,010 $ 87,627 Gross profit 62,668 56,330 43,876 45,900 Net income (loss) $ 1,847 $ (14,422 ) $ (13,935 ) $ 311 Net income (loss) per share: Basic $ 0.03 $ (0.21 ) $ (0.20 ) $ 0.00 Diluted $ 0.03 $ (0.21 ) $ (0.20 ) $ 0.00 Year Ended December 31, 2017 First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands, except per share amounts) Net revenue $ 88,841 $ 104,175 $ 113,581 $ 113,721 Gross profit $ 52,924 $ 51,104 $ 51,842 $ 52,093 Net income (loss) $ 8,463 $ 10,965 $ (9,167 ) $ (19,448 ) Net income (loss) per share: Basic $ 0.13 $ 0.17 $ (0.14 ) $ (0.29 ) Diluted $ 0.12 $ 0.16 $ (0.14 ) $ (0.29 ) |
Organization and Summary of S_4
Organization and Summary of Significant Accounting Policies (Details Textuals) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 24,000 | |||||||||||
Accounts receivable, net | $ 59,491 | $ 66,099 | 59,491 | $ 66,099 | ||||||||
Net revenue | 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | 113,721 | $ 113,581 | $ 104,175 | $ 88,841 | 384,997 | 420,318 | $ 387,832 | |
Restricted Cash and Cash Equivalents | 1,000 | 1,000 | ||||||||||
Impairment losses | $ 2,198 | 2,000 | 1,300 | |||||||||
Revenue, Performance Obligation, Payment Term | 30 days | |||||||||||
Revenue, Performance Obligation, Delivery Term | 1 year | |||||||||||
Contract with Customer, Right of Return Term | 6 years | |||||||||||
Standard Product Warranty Accrual, Current | 500 | 900 | $ 500 | 900 | ||||||||
Number of operating segments | 1 | |||||||||||
Consolidated statements of operations | ||||||||||||
Cost of net revenue | $ 176,223 | 212,355 | 157,842 | |||||||||
Gross profit | 45,900 | 43,876 | 56,330 | 62,668 | 52,093 | 51,842 | 51,104 | 52,924 | 208,774 | 207,963 | 229,990 | |
Operating Income (Loss) | (19,097) | (21,671) | 63,059 | |||||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (32,852) | (33,998) | 63,690 | |||||||||
Income tax provision (benefit) | (6,653) | (24,811) | 2,398 | |||||||||
Net Income (Loss) Attributable to Parent | 311 | $ (13,935) | $ (14,422) | $ 1,847 | $ (19,448) | $ (9,167) | $ 10,965 | $ 8,463 | $ (26,199) | $ (9,187) | $ 61,292 | |
Earnings Per Share, Basic | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.29) | $ (0.14) | $ 0.17 | $ 0.13 | $ (0.38) | $ (0.14) | $ 0.96 | ||
Earnings Per Share, Diluted | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.29) | $ (0.14) | $ 0.16 | $ 0.12 | $ (0.38) | $ (0.14) | $ 0.91 | ||
Consolidated balance sheet | ||||||||||||
Inventory | 41,738 | $ 53,434 | $ 41,738 | $ 53,434 | ||||||||
Assets, Current | 180,611 | 201,304 | 180,611 | 201,304 | ||||||||
Assets | 738,831 | 824,862 | 738,831 | 824,862 | ||||||||
Deferred revenue and deferred profit | 0 | 4,362 | 0 | 4,362 | ||||||||
Accrued expenses and other current liabilities | 23,520 | 20,306 | 23,520 | 20,306 | ||||||||
Liabilities, Current | 70,567 | 76,386 | 70,567 | 76,386 | ||||||||
Liabilities | 338,895 | 437,438 | 338,895 | 437,438 | ||||||||
Accumulated deficit | (93,630) | (69,119) | (93,630) | (69,119) | ||||||||
Total stockholders’ equity | 399,936 | 387,424 | 399,936 | 387,424 | $ 352,424 | $ 262,924 | ||||||
Liabilities and Equity | 738,831 | 824,862 | $ 738,831 | $ 824,862 | ||||||||
Revenue from Distributors [Member] | ||||||||||||
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
Concentration Risk, Percentage | 42.00% | 34.00% | 19.00% | |||||||||
Minimum [Member] | ||||||||||||
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
Property, Plant and Equipment, Useful Life | 2 years | |||||||||||
Revenue, Performance Obligation, Warranty Term | 1 year | |||||||||||
Contract with Customer, Rebate and Price Protection Program Term | 1 year | |||||||||||
Maximum [Member] | ||||||||||||
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||||||||
Revenue, Performance Obligation, Warranty Term | 3 years | |||||||||||
Contract with Customer, Rebate and Price Protection Program Term | 2 years | |||||||||||
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||||||||||
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
Allowances for Doubtful Accounts | 46 | $ 73 | $ 46 | $ 73 | $ 87 | $ 236 | ||||||
Amounts under Legacy GAAP (unaudited) | ||||||||||||
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
Accounts receivable, net | 59,491 | 59,491 | ||||||||||
Net revenue | 370,033 | |||||||||||
Consolidated statements of operations | ||||||||||||
Cost of net revenue | 170,719 | |||||||||||
Gross profit | 199,314 | |||||||||||
Operating Income (Loss) | (28,557) | |||||||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (42,312) | |||||||||||
Income tax provision (benefit) | (8,640) | |||||||||||
Net Income (Loss) Attributable to Parent | $ (33,672) | |||||||||||
Earnings Per Share, Basic | $ (0.49) | |||||||||||
Consolidated balance sheet | ||||||||||||
Inventory | 41,470 | $ 41,470 | ||||||||||
Assets, Current | 180,343 | 180,343 | ||||||||||
Assets | 738,563 | 738,563 | ||||||||||
Deferred revenue and deferred profit | 19,499 | 19,499 | ||||||||||
Accrued expenses and other current liabilities | 12,860 | 12,860 | ||||||||||
Liabilities, Current | 79,406 | 79,406 | ||||||||||
Liabilities | 347,734 | 347,734 | ||||||||||
Accumulated deficit | (102,737) | (102,737) | ||||||||||
Total stockholders’ equity | 390,829 | 390,829 | ||||||||||
Liabilities and Equity | 738,563 | 738,563 | ||||||||||
Impact of Adoption (unaudited) | Accounting Standards Update 2014-09 [Member] | ||||||||||||
New Accounting Pronouncement, Early Adoption [Line Items] | ||||||||||||
Accounts receivable, net | 0 | 0 | ||||||||||
Net revenue | 14,964 | |||||||||||
Consolidated statements of operations | ||||||||||||
Cost of net revenue | 5,504 | |||||||||||
Gross profit | 9,460 | |||||||||||
Operating Income (Loss) | 9,460 | |||||||||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 9,460 | |||||||||||
Income tax provision (benefit) | 1,987 | |||||||||||
Net Income (Loss) Attributable to Parent | $ 7,473 | |||||||||||
Earnings Per Share, Basic | $ 0.11 | |||||||||||
Consolidated balance sheet | ||||||||||||
Inventory | 268 | $ 268 | ||||||||||
Assets, Current | 268 | 268 | ||||||||||
Assets | 268 | 268 | ||||||||||
Deferred revenue and deferred profit | (19,499) | (19,499) | ||||||||||
Accrued expenses and other current liabilities | 10,660 | 10,660 | ||||||||||
Liabilities, Current | (8,839) | (8,839) | ||||||||||
Liabilities | (8,839) | (8,839) | ||||||||||
Accumulated deficit | 9,107 | 9,107 | ||||||||||
Total stockholders’ equity | 9,107 | 9,107 | ||||||||||
Liabilities and Equity | $ 268 | $ 268 |
Organization and Summary of S_5
Organization and Summary of Significant Accounting Policies AOCI Table (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ 272 | $ 1,039 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (907) | 562 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | $ 1,179 | $ 477 |
Net Loss Per Share - Summary of
Net Loss Per Share - Summary of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator: | |||||||||||
Net income (loss) | $ 311 | $ (13,935) | $ (14,422) | $ 1,847 | $ (19,448) | $ (9,167) | $ 10,965 | $ 8,463 | $ (26,199) | $ (9,187) | $ 61,292 |
Denominator: | |||||||||||
Weighted Average Number of Shares Outstanding, Basic | 68,490 | 66,252 | 63,781 | ||||||||
Dilutive common stock equivalents (shares) | 0 | 0 | 3,872 | ||||||||
Weighted average common shares outstanding-diluted (shares) | 68,490 | 66,252 | 67,653 | ||||||||
Net income (loss) per share: | |||||||||||
Basic (usd per share) | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.29) | $ (0.14) | $ 0.17 | $ 0.13 | $ (0.38) | $ (0.14) | $ 0.96 | |
Diluted (usd per share) | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.29) | $ (0.14) | $ 0.16 | $ 0.12 | $ (0.38) | $ (0.14) | $ 0.91 |
Net Loss Per Share - Additional
Net Loss Per Share - Additional Information (Detail) - shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Common stock equivalents excluded from the calculation of net loss per share (shares) | 3.7 | 4.5 | 0.8 |
Business Combination Business C
Business Combination Business Combination (Details) - USD ($) $ / shares in Units, $ in Thousands | May 12, 2017 | Apr. 04, 2017 | Jul. 01, 2016 | Apr. 28, 2016 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||||
Goodwill, Purchase Accounting Adjustments | $ 338 | |||||
Exar Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition, Name of Acquired Entity | Exar Corporation | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 235,800 | |||||
Proceeds from Issuance of Debt | 416,800 | |||||
Long-term Debt, Gross | 425,000 | |||||
Exar Corporation [Member] | Cash in lieu of equity [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Total consideration given | 12,700 | |||||
Wireless Infrastructure Backhaul Business of Broadcom Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Goodwill, Purchase Accounting Adjustments | $ 341 | |||||
Cash [Member] | Exar Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Total consideration given | $ 688,100 | |||||
Cash [Member] | G.hn business of Marvell [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Total consideration given | $ 21,000 | |||||
Cash [Member] | Wireless Infrastructure Backhaul Business of Broadcom Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Total consideration given | $ 80,000 | $ 21,000 | ||||
Common Stock [Member] | Exar Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition, Share Price | $ 13 |
Restructuring Activity Restru_2
Restructuring Activity Restructuring Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Restructuring Cost and Reserve [Line Items] | |||
Operating Leases, Rent Expense, Sublease Rentals | $ 2,400 | $ 2,100 | $ 1,300 |
Restructuring Reserve | 1,946 | 3,039 | |
Restructuring charges | 3,838 | 9,524 | 3,432 |
Restructuring Reserve, Accrual Adjustment | 70 | ||
Payments for Restructuring | 4,004 | 5,991 | |
Restructuring Reserve, Settled without Cash | 927 | 5,505 | |
Restructuring Plan, Entropic Communications [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 536 | ||
One-time Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 409 | 239 | |
Transfers from deferred rent | 0 | ||
Restructuring charges | 2,094 | 8,353 | 1,038 |
Restructuring Reserve, Accrual Adjustment | 0 | ||
Payments for Restructuring | 1,924 | 2,984 | |
Restructuring Reserve, Settled without Cash | 0 | 5,130 | |
One-time Termination Benefits [Member] | Restructuring Plan, Entropic Communications [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 0 | ||
Facility Closing [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,608 | 1,025 | 2,264 |
Stock Based Compensation [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 5,100 | ||
Lease Related Impairment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 1,490 | 2,693 | |
Transfers from deferred rent | 4,405 | ||
Restructuring charges | 1,608 | 1,025 | |
Restructuring Reserve, Accrual Adjustment | 0 | ||
Payments for Restructuring | 1,884 | 2,861 | |
Restructuring Reserve, Settled without Cash | 927 | 375 | |
Lease Related Impairment [Member] | Restructuring Plan, Entropic Communications [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 499 | ||
Other Restructuring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | 47 | 107 | |
Transfers from deferred rent | 0 | ||
Restructuring charges | 136 | 146 | 130 |
Restructuring Reserve, Accrual Adjustment | 70 | ||
Payments for Restructuring | 196 | 146 | |
Restructuring Reserve, Settled without Cash | $ 0 | $ 0 | |
Other Restructuring [Member] | Restructuring Plan, Entropic Communications [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve | $ 37 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | |||
Impairment losses | $ 2,198,000 | $ 2,000,000 | $ 1,300,000 |
Goodwill | 238,330,000 | 237,992,000 | $ 76,015,000 |
Goodwill, Acquired During Period | 0 | 162,318,000 | |
Goodwill, Purchase Accounting Adjustments | (338,000) | ||
Goodwill impairment loss | $ 0 | ||
Wireless Infrastructure Backhaul Business of Broadcom Corporation [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Purchase Accounting Adjustments | (341,000) | ||
Indefinite-lived Intangible Assets [Member] | |||
Goodwill [Line Items] | |||
Impairment losses | $ 2,000,000 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 years 1 month 6 days | ||
Intangibles assets, Gross | $ 377,031 | $ 379,631 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (136,531) | (68,986) | |
Finite-Lived Intangible Assets, Net | 240,500 | 310,645 | $ 81,861 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 56,819 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 55,954 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 55,171 | ||
2,019 | 37,641 | ||
2,020 | 25,446 | ||
Transfers into developed technology from IPR&D | 0 | 5,378 | |
Amortization of Intangible Assets | (67,947) | (54,694) | (16,084) |
Impairment of Intangible Assets, Finite-lived | 2,198 | 0 | |
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 9,469 | ||
Assets, Total [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Transfer from IPRD to Developed Tech | $ 0 | 32,600 | |
Licensed Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years 8 months 12 days | ||
Intangibles assets, Gross | $ 2,070 | 2,070 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (1,130) | (575) | |
Finite-Lived Intangible Assets, Net | $ 940 | 1,495 | |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 years 10 months 24 days | ||
Intangibles assets, Gross | $ 238,961 | 241,561 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (74,630) | (39,252) | |
Finite-Lived Intangible Assets, Net | $ 164,331 | 202,309 | |
Trademarks and Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 years 1 month 6 days | ||
Intangibles assets, Gross | $ 13,800 | 13,800 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (4,252) | (1,992) | |
Finite-Lived Intangible Assets, Net | $ 9,548 | 11,808 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 4 years 7 months 6 days | ||
Intangibles assets, Gross | $ 121,100 | 121,100 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (55,647) | (26,661) | |
Finite-Lived Intangible Assets, Net | $ 65,453 | 94,439 | |
Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Intangibles assets, Gross | $ 1,100 | 1,100 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (872) | (506) | |
Finite-Lived Intangible Assets, Net | 228 | 594 | |
Exar and G.hn business [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 0 | ||
Entropic Communications [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 245,500 | ||
Cost of Sales [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | (35,821) | (25,316) | (8,512) |
Research and Development Expense [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | (150) | (551) | (619) |
Selling, general and administrative [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | $ (31,976) | $ (28,827) | $ (6,953) |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 2) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 56,819,000 | ||
Other Indefinite-lived Intangible Assets | $ 4,400,000 | $ 22,400,000 | |
Impairment losses | 2,198,000 | 2,000,000 | 1,300,000 |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 55,954,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 55,171,000 | ||
2,019 | 37,641,000 | ||
2,020 | 25,446,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 9,469,000 | ||
Finite-Lived Intangible Assets, Net | 240,500,000 | 310,645,000 | $ 81,861,000 |
Entropic Communications [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Indefinite-lived Intangible Assets, Purchase Accounting Adjustments | 16,600,000 | ||
In Process Research and Development [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Intangible Assets, Transfer from IPRD to Developed Tech | 0 | (32,600,000) | |
In Process Research and Development [Member] | Exar Corporation [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Indefinite-lived Intangible Assets, Purchase Accounting Adjustments | 0 | ||
Indefinite-lived Intangible Assets [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Other Indefinite-lived Intangible Assets | $ 4,400,000 | ||
Impairment losses | $ 2,000,000 |
Financial Instruments Financial
Financial Instruments Financial Instruments (Details 1) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Nov. 03, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset | $ 1,623 | $ 734 | $ 0 | |
Derivative, Fixed Interest Rate | 4.25% | 1.74685% |
Financial Instruments Financi_2
Financial Instruments Financial Instruments (Details 2) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | $ 1,623 | $ 734 | $ 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | $ 1,623 | $ 734 |
Financial Instruments Financi_3
Financial Instruments Financial Instruments - Additional Information (Details 4) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | $ 1,623,000 | $ 734,000 | $ 0 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) | $ 889,000 | 734,000 | |
Fair Value, Liabilities, Transfers between Levels | $ 0 |
Balance Sheet Details - Cash an
Balance Sheet Details - Cash and Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Balance Sheet Related Disclosures [Abstract] | ||||
Cash and cash equivalents | $ 73,142 | $ 71,872 | ||
Short-term restricted cash | 645 | 1,476 | ||
Long-term restricted cash | 404 | 1,064 | ||
Cash, cash equivalents and restricted cash | 74,191 | $ 74,412 | $ 82,896 | $ 67,956 |
Restricted Cash and Cash Equivalents | $ 1,000 |
Balance Sheet Details - Invento
Balance Sheet Details - Inventory (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Balance Sheet Related Disclosures [Abstract] | ||
Work-in-process | $ 17,618 | $ 21,823 |
Finished goods | 24,120 | 31,611 |
Inventory Total | $ 41,738 | $ 53,434 |
Balance Sheet Details - Propert
Balance Sheet Details - Property and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 11,100 | $ 12,000 | $ 10,600 |
Property and equipment, Gross | 72,191 | 66,711 | |
Less accumulated depreciation and amortization | (53,787) | (44,053) | |
Property and equipment, net | $ 18,404 | 22,658 | |
Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Furniture and fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Property and equipment, Gross | $ 2,020 | 2,105 | |
Machinery and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, Gross | $ 34,225 | 33,462 | |
Machinery and equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Machinery and equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Masks and production equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Property and equipment, Gross | $ 12,645 | 11,470 | |
Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Property and equipment, Gross | $ 5,675 | 4,695 | |
Leasehold improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, Gross | $ 17,493 | 14,340 | |
Leasehold improvements [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 1 year | ||
Leasehold improvements [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Construction in progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, Gross | $ 133 | $ 639 |
Balance Sheet Details - Intangi
Balance Sheet Details - Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 6 years 1 month 6 days | ||
Intangibles assets, Gross | $ 377,031 | $ 379,631 | |
Less accumulated amortization | (136,531) | (68,986) | |
Intangible assets, net | 240,500 | 310,645 | $ 81,861 |
Intangible Assets, Net (Excluding Goodwill) | 244,900 | 315,045 | |
Amortization of Intangible Assets | $ 67,947 | 54,694 | $ 16,084 |
Licensed Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 3 years 8 months 12 days | ||
Intangibles assets, Gross | $ 2,070 | 2,070 | |
Less accumulated amortization | (1,130) | (575) | |
Intangible assets, net | $ 940 | 1,495 | |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 6 years 10 months 24 days | ||
Intangibles assets, Gross | $ 238,961 | 241,561 | |
Less accumulated amortization | (74,630) | (39,252) | |
Intangible assets, net | $ 164,331 | 202,309 | |
Trademarks and Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 6 years 1 month 6 days | ||
Intangibles assets, Gross | $ 13,800 | 13,800 | |
Less accumulated amortization | (4,252) | (1,992) | |
Intangible assets, net | $ 9,548 | 11,808 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 4 years 7 months 6 days | ||
Intangibles assets, Gross | $ 121,100 | 121,100 | |
Less accumulated amortization | (55,647) | (26,661) | |
Intangible assets, net | $ 65,453 | $ 94,439 |
Balance Sheet Details - Deferre
Balance Sheet Details - Deferred Revenue and Deferred Profit (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Balance Sheet Related Disclosures [Abstract] | ||
Deferred revenue-rebates | $ 0 | $ 156 |
Deferred revenue - distributor transactions | 0 | 5,341 |
Deferred cost of net revenue - distributor transactions | 0 | (1,135) |
Deferred revenue and deferred profit | $ 0 | $ 4,362 |
Balance Sheet Details- Accrued
Balance Sheet Details- Accrued Price Protection Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accrued Price Protection Rebate Activity [Roll Forward] | ||
Begining Balance | $ 21,571 | $ 15,176 |
Charged as a reduction of revenue | 34,288 | 46,520 |
Reversal of unclaimed rebates | (2,413) | (101) |
Payments | (36,992) | (40,024) |
Ending Balance | $ 16,454 | $ 21,571 |
Balance Sheet Details - Accrued
Balance Sheet Details - Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Capitalized Contract Cost [Line Items] | ||
Accrued technology license payments | $ 4,500 | $ 4,500 |
Accrued professional fees | 1,270 | 1,497 |
Accrued engineering and production costs | 646 | 2,378 |
Accrued restructuring | 1,946 | 3,039 |
Accrued royalty | 980 | 1,206 |
Accrued Rent, Current | 1,214 | 1,105 |
Accrued customer credits | 1,204 | 2,667 |
Taxes Payable | 1,642 | 0 |
Contract with Customer, Liability | 71 | |
Other | 995 | 3,914 |
Total | 23,520 | $ 20,306 |
Reduction in Transaction Price [Member] | ||
Capitalized Contract Cost [Line Items] | ||
Customer Refund Liability, Current | 7,558 | |
Sales Returns and Allowances [Member] | ||
Capitalized Contract Cost [Line Items] | ||
Accrued obligations to customers for stock rotation rights | $ 1,494 |
Debt and Interest Rate Swap (De
Debt and Interest Rate Swap (Details) - USD ($) $ in Thousands | May 12, 2024 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 03, 2017 | May 12, 2017 |
Debt Instrument [Line Items] | ||||||
Long-term Debt, Maturities, Repayments of Principal after Year Five | $ 262,000 | $ 355,000 | ||||
Derivative, Fixed Interest Rate | 4.25% | 1.74685% | ||||
Derivative Asset | $ 1,623 | 734 | $ 0 | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) | $ 889 | $ 734 | ||||
Incremental Loans | 160 | |||||
Debt Instrument, Term | 7 years | |||||
Debt Instrument, Call Feature | 1.0% soft call premium | |||||
Repayments of Debt | $ 163,000 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.60% | 4.10% | ||||
Long-term Debt, Fair Value | $ 268,100 | $ 360,000 | $ 398,500 | |||
Debt Issuance Costs, Gross | 6,000 | |||||
Amortization of Debt Discount (Premium) | 300 | 200 | ||||
Amortization of Debt Issuance Costs | 800 | 600 | ||||
Amortization of debt issuance costs and discount | $ 1,148 | 763 | $ 0 | |||
Debt Instrument, Interest Rate, Basis for Effective Rate | 0.046 | |||||
Debt Instrument, Unamortized Discount | (2,100) | |||||
Long-term debt | $ 255,757 | 347,609 | ||||
Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate Terms | base rate | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||
Federal Funds Effective Swap Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate Terms | the federal funds rate, plus 0.50% | |||||
Prime Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate Terms | prime rate | |||||
London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||||
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate Terms | an adjusted LIBOR rate determined on the basis of a one- three- or six-month interest period, plus 1.0% | |||||
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate Terms | an adjusted LIBOR rate, subject to a floor of 0.75% | |||||
London Interbank Offered Rate (LIBOR) Subject to Floor [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||||
Medium-term Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 262,000 | 355,000 | $ 425,000 | |||
Debt Instrument, Unamortized Discount | (1,630) | (1,930) | ||||
Debt Issuance Costs, Net | (4,613) | (5,461) | ||||
Long-term Debt | 255,757 | 347,609 | ||||
Long-term Debt, Current Maturities | 0 | 0 | ||||
Long-term debt | $ 255,757 | $ 347,609 | ||||
Scenario, Forecast [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Frequency of Periodic Payment | quarterly installments | |||||
Debt Instrument, Payment Terms | 0.0025 |
Stock-Based Compensation and _2
Stock-Based Compensation and Employee Benefit Plans - Expense by Type (Detail) - USD ($) $ in Thousands | Mar. 29, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Common stock, shares authorized (shares) | 550,000,000 | 550,000,000 | ||
Dual Class Sunset Class A and B Common Stock | Mar. 29, 2017 | |||
Proceeds from Stock Options Exercised | $ 700 | $ 7,900 | $ 3,600 | |
Stock based compensation | 31,721 | 32,668 | 21,765 | |
Cost of Sales [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock based compensation | 489 | 332 | 210 | |
Research and Development Expense [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock based compensation | 17,953 | 16,190 | 14,403 | |
Selling, general and administrative [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock based compensation | 13,279 | 11,016 | 7,152 | |
Restructuring Charges [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock based compensation | $ 0 | $ 5,130 | $ 0 | |
Predecessor [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Common stock, shares authorized (shares) | 1,575,000,000 | |||
Successor [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Common stock, shares authorized (shares) | 1,509,554,147 |
Stock-Based Compensation and _3
Stock-Based Compensation and Employee Benefits Plan - Awards (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Feb. 28, 2018 | Feb. 17, 2017 | Aug. 12, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Proceeds from Stock Options Exercised | $ 0.7 | $ 7.9 | $ 3.6 | |||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options (Deprecated 2017-01-31) | $ 7.8 | $ 11.9 | $ 5.7 | |||
Shares Issued upon Settlement of Executive Bonus Plan | 300,000 | 200,000 | 200,000 | |||
Restricted Stock Unit and Restricted Stock Award [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,263,000 | 3,183,000 | ||||
Weighted-average grant date fair value per share | $ 20.23 | $ 20.13 | ||||
RSUs granted in period (shares) | 2,460,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 19.40 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (1,736,000) | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share | $ 18.64 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (644,000) | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Intrinsic Value | $ 20.90 | |||||
Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk-free interest rate | 2.76% | |||||
Dividend yield | 0.00% | 0.00% | ||||
Expected life (in years) | 5 years 6 months | |||||
Volatility | 44.30% | |||||
2010 Equity Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 12,800,027 | |||||
2004 Equity Incentive Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 553,710 |
Stock-Based Compensation and _4
Stock-Based Compensation and Employee Benefit Plans - ESPP (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
ESPP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 275,782 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $ 16.14 | ||
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0.00% | 0.00% | 0.00% |
Expected life (in years) | 6 months | 6 months | |
Minimum [Member] | Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value per share | $ 5.01 | $ 6.20 | $ 5.85 |
Risk-free interest rate | 2.00% | 0.60% | 0.38% |
Expected life (in years) | 4 months 17 days | ||
Volatility | 38.82% | 29.56% | 49.94% |
Maximum [Member] | Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value per share | $ 5.37 | $ 7.46 | $ 6.20 |
Risk-free interest rate | 2.51% | 1.40% | 0.60% |
Expected life (in years) | 6 months | ||
Volatility | 46.17% | 49.94% | 53.94% |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation and Employee Benefit Plans - Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 6,500 | $ 16,300 | $ 8,100 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 10 months 3 days | ||
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Expected life (in years) | 6 months | 6 months | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.76% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ 8.14 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,659 | 3,069 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 335 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (636) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | (109) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | $ 18.40 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | 10.27 | $ 8.95 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | 7.04 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 16.82 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block] | 2,630 | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 2,184 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 10.19 | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ 8.71 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years 2 months 23 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 1 month 40 days | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | 1 year 5 months 5 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 20,800 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 20,782 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 20,322 | ||
Expected life (in years) | 5 years 6 months | ||
Volatility | 44.30% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |
Minimum [Member] | Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.00% | 0.60% | 0.38% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Expected life (in years) | 4 months 17 days | ||
Volatility | 38.82% | 29.56% | 49.94% |
Minimum [Member] | Employee Stock [Member] | Exar Corporation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.29% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Expected life (in years) | 1 year 7 months 6 days | ||
Volatility | 45.39% | ||
Minimum [Member] | Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ 8.77 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Volatility | 45.39% | ||
Maximum [Member] | Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.51% | 1.40% | 0.60% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Expected life (in years) | 6 months | ||
Volatility | 46.17% | 49.94% | 53.94% |
Maximum [Member] | Employee Stock [Member] | Exar Corporation [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.99% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Expected life (in years) | 6 years | ||
Volatility | 50.32% | ||
Maximum [Member] | Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ 21.04 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Volatility | 50.32% |
Stock-Based Compensation Stock
Stock-Based Compensation Stock Compensation Awards Activity Roll Forward (Details) - Restricted Stock Unit and Restricted Stock Award [Member] - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,263 | 3,183 |
RSUs granted in period (shares) | 2,460 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (1,736) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (644) | |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 19.40 |
Stock-Based Compensation Stoc_2
Stock-Based Compensation Stock Reserved for Future Issuance (Details) - shares | Dec. 31, 2018 | Dec. 31, 2017 |
ESPP [Member] | ||
Class of Stock [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,130,864 | |
2010 Equity Incentive Plan [Member] | ||
Class of Stock [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 12,800,027 | |
Restricted Stock Unit and Restricted Stock Award [Member] | ||
Class of Stock [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,263,000 | 3,183,000 |
Stock-Based Compensation and _5
Stock-Based Compensation and Employee Benefit Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Mar. 29, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Feb. 28, 2018 | Feb. 17, 2017 | Aug. 12, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 6,500 | $ 16,300 | $ 8,100 | ||||
Common Stock, Shares, Outstanding | 69,551,000 | 67,400,000 | |||||
Dual Class Sunset Class A and B Common Stock | Mar. 29, 2017 | ||||||
Treasury Stock, Shares, Retired | 65,445,853 | ||||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||||
Common stock, shares authorized (shares) | 550,000,000 | 550,000,000 | |||||
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 | |||||
Stock Issued or Granted During Period, Share-based Compensation [Abstract] | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 4,500 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 10 months 3 days | ||||||
Stock based compensation expense | $ 31,721 | $ 32,668 | $ 21,765 | ||||
Shares Issued upon Settlement of Executive Bonus Plan | 300,000 | 200,000 | 200,000 | ||||
Deferred Compensation Share-based Arrangements, Liability, Current | $ 8,900 | ||||||
Class A Common Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Treasury Stock, Shares, Retired | 58,876,053 | ||||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||||
Common stock, shares authorized (shares) | 441,123,947 | ||||||
Class B Common Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Treasury Stock, Shares, Retired | 6,569,800 | ||||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||||
Common stock, shares authorized (shares) | 493,430,200 | ||||||
Common Stock [Member] | |||||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||||
Common stock, shares authorized (shares) | 550,000,000 | ||||||
Equity Incentive Plan [Member] | |||||||
Stock Issued or Granted During Period, Share-based Compensation [Abstract] | |||||||
Vesting period for new restricted stock units | 4 years | ||||||
Term of option granted, minimum | 7 years | ||||||
Term of option granted, maximum | 10 years | ||||||
Common Stock Capital Shares Reserved For Future Issuance Period Increase Decrease | 2,583,311 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 4.00% | ||||||
Employee Stock Purchase Plan [Member] | |||||||
Stock Issued or Granted During Period, Share-based Compensation [Abstract] | |||||||
Contribution of earnings by employees | 15.00% | ||||||
Percentage of purchase of common stock | 85.00% | ||||||
Percentage of common stock on the date of purchase | 85.00% | ||||||
Common Stock Capital Shares Reserved For Future Issuance Period Increase Decrease | 968,741 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 1.25% | ||||||
MaximumDurationOfEmployeeStockPurchasePlan | 27 months | ||||||
RSU and RSA [Member] | |||||||
Stock Issued or Granted During Period, Share-based Compensation [Abstract] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 7 months 15 days | ||||||
Portion of equity awards that have not been vested or earned | $ 53,400 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 19.40 | ||||||
RSUs granted in period (shares) | 2,460,000 | ||||||
Stock Option [Member] | |||||||
Stock Issued or Granted During Period, Share-based Compensation [Abstract] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 1 month 40 days | ||||||
Successor [Member] | |||||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||||
Common stock, shares authorized (shares) | 1,509,554,147 | ||||||
Predecessor [Member] | |||||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||||
Common stock, shares authorized (shares) | 1,575,000,000 |
Income Taxes Schedule Of Income
Income Taxes Schedule Of Income Before Income Tax Domestic And Foreign (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule Of Income Before Income Tax Domestic And Foreign [Line Items] | |||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ 16,405 | $ 42,580 | $ 75,778 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | (49,257) | (76,578) | (12,088) |
Income (loss) before income taxes | $ (32,852) | $ (33,998) | $ 63,690 |
Income Taxes Components of Inco
Income Taxes Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ (6,814) | $ (11,899) | $ 22,294 |
Tax Adjustments, Settlements, and Unusual Provisions | (27) | (917) | 0 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | 1,319 | 1,730 | (802) |
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount | 1,463 | 1,993 | (1,204) |
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount | 0 | 5 | 72 |
Current Federal Tax Expense (Benefit) | 3,292 | 13,470 | 1,216 |
Current State and Local Tax Expense (Benefit) | 37 | 26 | (11) |
Current Foreign Tax Expense (Benefit) | 1,640 | 1,784 | 1,092 |
Current Income Tax Expense (Benefit) | 4,969 | 15,280 | 2,297 |
Deferred Federal Income Tax Expense (Benefit) | 788 | 19,451 | 17,492 |
Deferred State and Local Income Tax Expense (Benefit) | (2,799) | (4,668) | (8,271) |
Deferred Foreign Income Tax Expense (Benefit) | (3,884) | (3,697) | (2,459) |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (5,727) | (51,177) | (6,661) |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (5,727) | (51,177) | (6,661) |
Deferred Income Taxes Expense Benefit | (11,622) | (40,091) | 101 |
Income tax provision (benefit) | (6,653) | (24,811) | 2,398 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | 20 | 17 | (13) |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | 8,849 | 8,153 | 9,076 |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | 8,640 | 23,666 | 2,888 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount | 74 | (5,713) | (5,756) |
Income Tax Reconciliation Foreign Dividends | 1,103 | 0 | 51 |
Income tax impact to provision due to transaction costs | 0 | 553 | 749 |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | (1,960) | (1,368) | 0 |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 185 | 25,205 | 0 |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 0 | $ 1,257 | $ 0 |
Income Taxes Income Tax Expense
Income Taxes Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ (6,814) | $ (11,899) | $ 22,294 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | 20 | 17 | (13) |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | (8,849) | (8,153) | (9,076) |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | 8,640 | 23,666 | 2,888 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount | 74 | (5,713) | (5,756) |
Income Tax Reconciliation Foreign Dividends | 1,103 | 0 | 51 |
Income tax impact to provision due to transaction costs | 0 | 553 | 749 |
Tax Adjustments, Settlements, and Unusual Provisions | (27) | (917) | 0 |
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount | 1,463 | 1,993 | (1,204) |
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount | 0 | (5) | (72) |
Current Foreign Tax Expense (Benefit) | 1,640 | 1,784 | 1,092 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | 1,319 | 1,730 | (802) |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 1,960 | 1,368 | 0 |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 185 | 25,205 | 0 |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | 0 | 1,257 | 0 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (5,727) | (51,177) | (6,661) |
Provision (benefit) for income taxes | $ (6,653) | $ (24,811) | $ 2,398 |
Income Taxes Components of Defe
Income Taxes Components of Deferred Income Tax Asset (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Valuation Allowance [Line Items] | |||
Current Federal Tax Expense (Benefit) | $ 3,292 | $ 13,470 | $ 1,216 |
Deferred Tax Assets, Operating Loss Carryforwards | 64,887 | 77,355 | |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 75,032 | 69,668 | |
Deferred Tax Assets, Other | 7,965 | 10,506 | |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 2,504 | 2,444 | |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 2,550 | 2,659 | |
Deferred Tax Assets, Goodwill and Intangible Assets | 0 | 0 | |
Deferred Tax Assets, Gross | 152,938 | 162,632 | |
Deferred Tax Assets, Valuation Allowance | (79,196) | (84,560) | |
Deferred Tax Assets, Net of Valuation Allowance | 73,742 | 78,072 | |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | 20 | 17 | (13) |
Deferred Tax Liabilities, Other Finite-Lived Assets | (1,391) | (1,777) | |
Deferred Tax Liabilities, Intangible Assets | (20,833) | (35,981) | |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 0 | (436) | |
Deferred Tax Assets, Net | 51,518 | 39,878 | |
Current State and Local Tax Expense (Benefit) | 37 | 26 | (11) |
Current Foreign Tax Expense (Benefit) | 1,640 | 1,784 | 1,092 |
Current Income Tax Expense (Benefit) | 4,969 | 15,280 | 2,297 |
Deferred Federal Income Tax Expense (Benefit) | 788 | 19,451 | 17,492 |
Deferred State and Local Income Tax Expense (Benefit) | (2,799) | (4,668) | (8,271) |
Deferred Foreign Income Tax Expense (Benefit) | (3,884) | (3,697) | (2,459) |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 5,727 | 51,177 | 6,661 |
Deferred Income Taxes Expense Benefit | (11,622) | (40,091) | 101 |
Income tax provision (benefit) | (6,653) | $ (24,811) | $ 2,398 |
Foreign Tax Authority [Member] | |||
Valuation Allowance [Line Items] | |||
Deferred Tax Assets, Other Tax Carryforwards | $ 23,500 |
Income Taxes Unrecognized tax e
Income Taxes Unrecognized tax expense (benefit) roll forward (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Unrecognized Tax Benefits | $ 61,500 | $ 63,086 | $ 23,417 | $ 26,053 |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 3,080 | 3,037 | 2,025 | |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (4,696) | (458) | $ (4,661) | |
Unrecognized Tax Benefits, Increase Resulting from Acquisition | $ 37,090 | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 52,200 | |||
Income Tax Examination, Penalties and Interest Accrued | $ 1,100 |
Income Taxes Provisional Amount
Income Taxes Provisional Amounts Disclosures Related to Tax Cuts and Jobs Act (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Taxes, Provisional Items [Line Items] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 5,727 | $ 51,177 | $ 6,661 |
Domestic Tax Authority [Member] | |||
Income Taxes, Provisional Items [Line Items] | |||
Federal Alternative Minimum Tax Credit Carryforward | 700 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 11,300 | $ 51,200 | |
Maximum [Member] | |||
Income Taxes, Provisional Items [Line Items] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ||
Minimum [Member] | |||
Income Taxes, Provisional Items [Line Items] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Income Taxes Income Taxes - Add
Income Taxes Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Tax Credit Carryforward [Line Items] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 5,727 | $ 51,177 | $ 6,661 |
Domestic Tax Authority [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | 261,400 | ||
Tax Credit Carryforward, Amount | 37,800 | ||
Federal Alternative Minimum Tax Credit Carryforward | 700 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 11,300 | $ 51,200 | |
State and Local Jurisdiction [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | 95,500 | ||
Tax Credit Carryforward, Amount | 83,100 | ||
Foreign Tax Authority [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | 13,600 | ||
Tax Credit Carryforward, Amount | 5,600 | ||
Deferred Tax Assets, Other Tax Carryforwards | $ 23,500 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies-Additional Details (Details) $ in Thousands | Dec. 07, 2017patent | Nov. 09, 2016 | Nov. 30, 2015patent | Aug. 31, 2016patent | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 15, 2014claim |
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Lease expiration date | Dec. 31, 2023 | |||||||
Operating Leases | ||||||||
2,019 | $ 9,365 | |||||||
2,017 | 9,576 | |||||||
2,018 | 9,286 | |||||||
2,019 | 4,511 | |||||||
2,020 | 1,205 | |||||||
Thereafter | 0 | |||||||
Total minimum payments: | 33,943 | |||||||
Other Obligations | ||||||||
2,019 | 8,386 | |||||||
2,017 | 4,424 | |||||||
2,018 | 693 | |||||||
2,019 | 425 | |||||||
2,020 | 447 | |||||||
Thereafter | 0 | |||||||
Total minimum payments: | 14,375 | |||||||
Future Minimum Payments, Due Thereafter | 0 | |||||||
Future Minimum Payments, Due in Five Years | 1,652 | |||||||
Future Minimum Payments, Due in Four Years | 4,936 | |||||||
Future Minimum Payments, Due in Three Years | 9,979 | |||||||
Future Minimum Payments, Due in Two Years | 14,000 | |||||||
Future Minimum Payments, Remainder of Fiscal Year | 83,412 | |||||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||||||
Operating Leases, Income Statement, Sublease Revenue | 2,400 | $ 2,100 | ||||||
Operating Leases, Rent Expense, Net | 4,500 | 4,200 | $ 2,900 | |||||
Inventory Purchase Obligations | ||||||||
Lease incentive for leasehold improvements | 0 | $ 0 | $ 61 | |||||
Future Minimum Payments, Due | 113,979 | |||||||
Inventories [Member] | ||||||||
Inventory Purchase Obligations | ||||||||
2,019 | 65,661 | |||||||
2,017 | 0 | |||||||
2,018 | 0 | |||||||
2,019 | 0 | |||||||
2,020 | 0 | |||||||
Thereafter | 0 | |||||||
Total minimum payments: | 65,661 | |||||||
Exar Corporation [Member] | ||||||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||||||
Escrow Deposit | $ 800 | |||||||
Inventory Purchase Obligations | ||||||||
Business Combination, Indemnification Agreement Term, Sales Transaction | 12 months | |||||||
Business Combination, Indemnification Agreement Term, Intellectual Property | 18 months | |||||||
CrestaTech Technology Corporation v. MaxLinear, Inc. [Member] | ||||||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||||||
Loss Contingency, Patents Found Not Infringed, Number | patent | 2 | 2 | 4 | |||||
Loss Contingency, Pending Claims, Number | claim | 3 |
Commitments and Contingencies -
Commitments and Contingencies - Litigation (Details) $ in Thousands | Dec. 07, 2017patent | Nov. 09, 2016 | Nov. 30, 2015claimpatent | May 16, 2014claim | Jan. 28, 2014patent | Aug. 31, 2016patent | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($)claim | Sep. 30, 2017USD ($) | May 01, 2015claim | Dec. 15, 2014claim |
Loss Contingencies [Line Items] | |||||||||||
Operating Leases, Future Sublease Income, Remainder of Fiscal Year | $ 3,566 | ||||||||||
Operating Leases, Future Sublease Income, Due in Two Years | 4,036 | ||||||||||
Operating Leases, Future Sublease Income, Due in Three Years | 4,057 | ||||||||||
Operating Leases, Future Sublease Income, Due in Four Years | 782 | ||||||||||
Operating Leases, Future Sublease Income, Due in Five Years | 291 | ||||||||||
Operating Leases, Future Sublease Income, Due Thereafter | 0 | ||||||||||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals | 12,732 | ||||||||||
2,019 | 9,365 | ||||||||||
2,017 | 9,576 | ||||||||||
2,018 | 9,286 | ||||||||||
2,019 | 4,511 | ||||||||||
2,020 | 1,205 | ||||||||||
Thereafter | $ 0 | ||||||||||
CrestaTech Technology Corporation v. MaxLinear, Inc. [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Patents allegedly infringed upon | 2 | 3 | 2 | ||||||||
Loss Contingency, Pending Claims, Number | claim | 3 | ||||||||||
Loss Contingency, Patents Found Not Infringed, Number | patent | 2 | 2 | 4 | ||||||||
Loss Contingency, Claims Dismissed, Number | claim | 13 | ||||||||||
CrestaTech Technology Corporation v. MaxLinear, Inc., '585 Patent [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Loss Contingency, Pending Claims, Number | claim | 3 | ||||||||||
Loss Contingency, Patents Found Not Infringed, Number | patent | 2 | ||||||||||
Loss Contingency, Patents Found Not Infringed, Appealed, Number | patent | 2 | ||||||||||
Inter Partes Review by US Patent Office [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
New claims filed | claim | 4 | ||||||||||
Inter Partes Review by US Patent Office v. CrestaTech Patents [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Patents allegedly infringed upon | patent | 2 | ||||||||||
Loss Contingency, Pending Claims, Number | claim | 6 | ||||||||||
Exar Corporation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Escrow Deposit | $ 800 | ||||||||||
Business Combination, Indemnification Assets, Amount as of Acquisition Date | $ 5,000 | ||||||||||
Business Combination, Indemnification Assets, Range of Outcomes, Value, High | 13,600 | ||||||||||
Business Combination, Indemnification Agreement Term, Sales Transaction | 12 months | ||||||||||
Business Combination, Indemnification Agreement Term, Intellectual Property | 18 months | ||||||||||
Indemnification Agreement [Member] | Exar Corporation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Business Combination, Indemnification Assets, Range of Outcomes, Value, High | 136,000 | ||||||||||
Representations and Warranties [Member] | Exar Corporation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Business Combination, Indemnification Assets, Range of Outcomes, Value, High | 34,000 | ||||||||||
Intellectual Property [Member] | Exar Corporation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Business Combination, Indemnification Assets, Range of Outcomes, Value, High | $ 34,000 | ||||||||||
Purchaser of iML [Member] | Exar Corporation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Release of indemnification asset | $ 1,300 | ||||||||||
Exar Corporation [Member] | Exar Corporation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Release of indemnification asset | $ 2,900 |
Commitments and Contingencies S
Commitments and Contingencies Sublease Income, Leased Facilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Operating Leases, Income Statement, Sublease Revenue | $ 2.4 | $ 2.1 |
Significant Customer and Geog_3
Significant Customer and Geographic Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Concentration Risk [Line Items] | |||||||||||
Long lived assets | $ 501,634 | $ 575,695 | |||||||||
Net revenue | $ 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | $ 113,721 | $ 113,581 | $ 104,175 | $ 88,841 | 384,997 | 420,318 | $ 387,832 |
Asia [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Net revenue | 312,877 | 372,103 | 360,325 | ||||||||
UNITED STATES | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Long lived assets | 426,321 | 481,638 | |||||||||
Net revenue | 18,060 | 10,829 | 9,181 | ||||||||
Rest of World [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Long lived assets | 3,368 | 1,643 | |||||||||
Net revenue | 54,060 | 37,386 | $ 18,326 | ||||||||
SINGAPORE | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Long lived assets | $ 71,945 | $ 92,414 | |||||||||
Long lived assets [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Benchmark Description | 1 | 1 | |||||||||
Long lived assets [Member] | UNITED STATES | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Benchmark Description | 0.85 | 0.84 | |||||||||
Long lived assets [Member] | Rest of World [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Benchmark Description | 0.01 | 0 | |||||||||
Long lived assets [Member] | SINGAPORE | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Benchmark Description | 0.14 | 0.16 | |||||||||
Sales Revenue, Net [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | ||||||||
Sales Revenue, Net [Member] | Asia [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 81.00% | 89.00% | 93.00% | ||||||||
Sales Revenue, Net [Member] | UNITED STATES | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 5.00% | 2.00% | 2.00% | ||||||||
Sales Revenue, Net [Member] | Rest of World [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 14.00% | 9.00% | 5.00% | ||||||||
Accounts Receivable [Member] | Customer C [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 17.00% | ||||||||||
Accounts Receivable [Member] | Customer E [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 10.00% | ||||||||||
Accounts Receivable [Member] | Customer D [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 10.00% | ||||||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer A [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 18.00% | 25.00% | 27.00% | ||||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer B [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 10.00% | ||||||||||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | China [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 63.00% | 71.00% | 78.00% | ||||||||
Supplier Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 15.00% | 15.00% | 11.00% | ||||||||
Supplier Concentration Risk [Member] | Vendor A [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 16.00% | 21.00% | 16.00% | ||||||||
Supplier Concentration Risk [Member] | Vendor B [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 19.00% | 16.00% | 13.00% | ||||||||
Supplier Concentration Risk [Member] | Vendor D [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 14.00% | 11.00% | |||||||||
Supplier Concentration Risk [Member] | Vendor E [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 13.00% | 11.00% | 18.00% | ||||||||
Supplier Concentration Risk [Member] | Vendor F [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 12.00% |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | $ 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | $ 113,721 | $ 113,581 | $ 104,175 | $ 88,841 | $ 384,997 | $ 420,318 | $ 387,832 |
Contract with Customer, Right to Recover Product | 300 | 300 | |||||||||
Contract with Customer, Liability | 71 | 71 | |||||||||
Accrued price protection liability | 16,454 | $ 21,571 | 16,454 | 21,571 | 15,176 | ||||||
Accounts Receivable [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Asset Impairment Charges | 0 | ||||||||||
Reduction in Transaction Price [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Customer Refund Liability, Current | 7,558 | 7,558 | |||||||||
Sales Returns and Allowances [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Accrued obligations to customers for stock rotation rights | $ 1,494 | 1,494 | |||||||||
Connected Home [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | 207,336 | 288,610 | 346,990 | ||||||||
Infrastructure [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | 82,388 | 71,779 | 37,411 | ||||||||
Industrial and multi-market [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | $ 95,273 | $ 59,929 | $ 3,431 | ||||||||
Sales Revenue, Net [Member] | Connected Home [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 54.00% | 69.00% | 89.00% | ||||||||
Sales Revenue, Net [Member] | Infrastructure [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 21.00% | 17.00% | 10.00% | ||||||||
Sales Revenue, Net [Member] | Industrial and multi-market [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 25.00% | 14.00% | 1.00% |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net revenue | $ 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | $ 113,721 | $ 113,581 | $ 104,175 | $ 88,841 | $ 384,997 | $ 420,318 | $ 387,832 |
Gross profit | 45,900 | 43,876 | 56,330 | 62,668 | 52,093 | 51,842 | 51,104 | 52,924 | 208,774 | 207,963 | 229,990 |
Net income (loss) | $ 311 | $ (13,935) | $ (14,422) | $ 1,847 | $ (19,448) | $ (9,167) | $ 10,965 | $ 8,463 | $ (26,199) | $ (9,187) | $ 61,292 |
Earnings Per Share, Basic | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.29) | $ (0.14) | $ 0.17 | $ 0.13 | $ (0.38) | $ (0.14) | $ 0.96 | |
Earnings Per Share, Diluted | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.29) | $ (0.14) | $ 0.16 | $ 0.12 | $ (0.38) | $ (0.14) | $ 0.91 |
Item 15 (Details)
Item 15 (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Allowances for Doubtful Accounts | $ 46 | $ 73 | $ 87 | $ 236 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense | 0 | 133 | 87 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account | 0 | 27 | 0 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (27) | (174) | (236) | |
SEC Schedule, 12-09, Reserve, Warranty [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Allowances for Doubtful Accounts | 519 | 941 | 860 | 157 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense | (414) | 492 | 335 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account | 0 | 122 | 489 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (8) | (533) | (121) | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Allowances for Doubtful Accounts | 79,196 | 84,560 | 100,284 | $ 98,535 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense | (5,761) | (50,881) | 0 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account | 397 | 35,157 | 8,410 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | $ 0 | $ 0 | $ (6,661) |