Document and Entity Information
Document and Entity Information - USD ($) $ / shares in Units, $ in Billions | 12 Months Ended | ||
Dec. 31, 2019 | Jun. 30, 2019 | Jan. 29, 2019 | |
Entity Information [Line Items] | |||
Entity Registrant Name | MaxLinear, Inc. | ||
Entity Central Index Key | 0001288469 | ||
Entity Tax Identification Number | 14-1896129 | ||
Entity Address, Address Line One | 5966 La Place Court, Suite 100, | ||
Entity Address, City or Town | Carlsbad, | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 92008 | ||
City Area Code | 760 | ||
Local Phone Number | 692-0711 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Interactive Data Current | Yes | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Amendment Flag | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Current Reporting Status | Yes | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Common Stock, Shares Outstanding | 71,947,085 | ||
Entity Listing, Par Value Per Share | $ 0.0001 | ||
Entity File Number | 001-34666 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Public Float | $ 1.5 | ||
NEW YORK STOCK EXCHANGE, INC. [Member] | |||
Entity Information [Line Items] | |||
Trading Symbol | MXL | ||
Title of 12(b) Security | Common Stock | ||
Security Exchange Name | NYSE |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 92,708 | $ 73,142 |
Short-term restricted cash | 349 | 645 |
Accounts receivable, net | 50,411 | 59,491 |
Inventory | 31,510 | 41,738 |
Prepaid expenses and other current assets | 6,792 | 10,357 |
Total current assets | 181,770 | 185,373 |
Long-term restricted cash | 60 | 404 |
Property and equipment, net | 16,613 | 18,404 |
Leased right-of-use assets | 10,978 | 0 |
Intangible assets, net | 187,971 | 244,900 |
Goodwill | 238,330 | 238,330 |
Deferred tax assets | 67,284 | 51,518 |
Other long-term assets | 2,785 | 4,664 |
Total assets | 705,791 | 743,593 |
Current liabilities: | ||
Accounts payable | 13,442 | 15,588 |
Accrued price protection liability | 12,557 | 16,454 |
Accrued expenses and other current liabilities | 31,171 | 28,282 |
Accrued compensation | 9,392 | 15,005 |
Total current liabilities | 66,562 | 75,329 |
Long-term lease liabilities | 9,335 | 4,097 |
Long-term debt | 206,909 | 255,757 |
Other long-term liabilities | 8,065 | 8,474 |
Total liabilities | 290,871 | 343,657 |
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, 71,931 shares issued and outstanding at December 31, 2019 and 69,551 shares issued and outstanding at December 31, 2018 | 7 | 7 |
Additional paid-in capital | 529,596 | 493,287 |
Accumulated other comprehensive income (loss) | (887) | 272 |
Accumulated deficit | (113,796) | (93,630) |
Total stockholders’ equity | 414,920 | 399,936 |
Total liabilities and stockholders’ equity | $ 705,791 | $ 743,593 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
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) | 71,931,000 | 69,551,000 |
Common Stock, Shares, Outstanding | 71,931,000 | 69,551,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net revenue | $ 317,180 | $ 384,997 | $ 420,318 |
Cost of net revenue | 149,495 | 176,223 | 212,355 |
Gross profit | 167,685 | 208,774 | 207,963 |
Operating expenses: | |||
Research and development | 98,344 | 120,046 | 112,279 |
Selling, general and administrative | 88,762 | 101,789 | 105,831 |
Impairment losses | 0 | 2,198 | 2,000 |
Restructuring charges | 2,636 | 3,838 | 9,524 |
Total operating expenses | 189,742 | 227,871 | 229,634 |
Loss from operations | (22,057) | (19,097) | (21,671) |
Interest income | 775 | 78 | 274 |
Interest Expense | (11,133) | (14,255) | (10,378) |
Other income (expense), net | (69) | 422 | (2,223) |
Nonoperating Income (Expense) | (10,427) | (13,755) | (12,327) |
Loss before income taxes | (32,484) | (32,852) | (33,998) |
Income tax benefit | (12,586) | (6,653) | (24,811) |
Net loss | $ (19,898) | $ (26,199) | $ (9,187) |
Net loss per share: | |||
Basic (usd per share) | $ (0.28) | $ (0.38) | $ (0.14) |
Diluted (usd per share) | $ (0.28) | $ (0.38) | $ (0.14) |
Shares used to compute net loss per share: | |||
Weighted Average Number of Shares Outstanding, Basic | 71,005 | 68,490 | 66,252 |
Diluted (shares) | 71,005 | 68,490 | 66,252 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (19,898) | $ (26,199) | $ (9,187) |
Other comprehensive income (loss), net of tax | |||
Unrealized loss on investments, net of tax of $0 in 2019, 2018, and 2017 | 0 | 0 | (55) |
Less: Reclassification adjustments of unrealized loss, net of tax of $0 in 2019, 2018, and 2017 | 0 | 0 | 55 |
Unrealized gain on investments, net of tax | 0 | 0 | 0 |
Foreign currency translation adjustments, net of tax expense of $136 in 2019, benefit of $200 in 2018, and benefit of $202 in 2017 | 160 | (1,572) | 2,122 |
Unrealized gain (loss) on interest rate swap, net of tax benefit of $341 in 2019, expense of $187 in 2018, and expense of $257 in 2017 | (1,319) | 702 | 477 |
Other comprehensive income (loss) | (1,159) | (870) | 2,599 |
Total comprehensive loss | $ (21,057) | $ (27,069) | $ (6,588) |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized gain(loss) on investments, net of tax of | $ 0 | $ 0 | $ 0 |
Foreign currency translation adjustments, net of tax benefit (expense) of | (136) | 200 | 202 |
Unrealized gain(loss) on interest rate swap, net of tax of benefit (expense) of | $ 341 | $ (187) | $ (257) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders Equity Statement $ in Thousands | USD ($) | Common Class A [Member]USD ($)shares | Class B Common Stock [Member]USD ($)shares | Additional Paid-in Capital [Member]USD ($) | Common Stock [Member]USD ($)shares | AOCI Attributable to Parent [Member]USD ($) | Accumulated Deficit [Member]USD ($) | Exar Corporation [Member]Additional Paid-in Capital [Member]USD ($) |
Shares issued, beginning of period (in shares) at Dec. 31, 2016 | shares | 58,363,000 | 6,668,000 | ||||||
Total stockholders’ equity, beginning of period at Dec. 31, 2016 | $ 352,424 | $ 6 | $ 1 | $ 413,909 | $ (1,560) | $ (59,932) | ||
Stock Repurchased and Cancelled During Period, Shares | shares | (13,000) | |||||||
Stock repurchased and cancelled during period | (334) | (334) | 0 | |||||
Conversion Of Class B Common Stock To Class A Common Stock Shares | shares | 163,000 | (163,000) | ||||||
Conversion of Class A and B common stock to common stock, Shares Issued | shares | (58,876,000) | (6,570,000) | 65,446,000 | |||||
Conversion of Class A and B common stock to common stock, Amount Converted | $ (6) | $ (1) | $ 7 | |||||
Common Stock Issued Pursuant To Equity Awards Net Value | 398 | $ 0 | 398 | |||||
Stock Assumed during Period, Value, Acquisitions | $ 4,613 | |||||||
Common Stock Issued Pursuant To Equity Awards Net Shares | shares | 363,000 | 65,000 | 1,738,000 | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares | 0 | 216,000 | ||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,308 | 4,308 | ||||||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 32,603 | 32,603 | ||||||
Other Comprehensive Income (Loss), Net of Tax | 2,599 | 2,599 | ||||||
Net 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 | $ 0 | $ 0 | 455,497 | $ 7 | 1,039 | (69,119) | |
Shares issued, end of period (in shares) at Dec. 31, 2017 | shares | 0 | 0 | 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 | shares | 0 | 0 | 1,875,000 | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares | 276,000 | |||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,452 | 4,452 | ||||||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 31,734 | 31,734 | ||||||
Cumulative adjustment for adoption of accounting principle, net | 1,634 | (157) | 103 | 1,688 | ||||
Other Comprehensive Income (Loss), Net of Tax | (870) | (870) | ||||||
Net loss | (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 | shares | 69,551,000 | |||||||
Common Stock Issued Pursuant To Equity Awards Net Value | 140 | 140 | ||||||
Common Stock Issued Pursuant To Equity Awards Net Shares | shares | 0 | 0 | 2,132,000 | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares | 248,000 | |||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,109 | 4,109 | ||||||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 32,060 | 32,060 | ||||||
Cumulative adjustment for adoption of accounting principle, net | (268) | 0 | 0 | (268) | ||||
Other Comprehensive Income (Loss), Net of Tax | (1,159) | (1,159) | ||||||
Net loss | (19,898) | |||||||
Total stockholders’ equity, end of period at Dec. 31, 2019 | $ 414,920 | $ 529,596 | $ 7 | $ (887) | $ (113,796) | |||
Shares issued, end of period (in shares) at Dec. 31, 2019 | shares | 71,931,000 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Activities | |||
Net loss | $ (19,898) | $ (26,199) | $ (9,187) |
Adjustments to reconcile net loss to cash provided by operating activities: | |||
Amortization and depreciation | 66,401 | 79,027 | 66,738 |
Impairment losses | 0 | 2,198 | 2,000 |
Provision for losses on accounts receivable | 0 | 0 | 133 |
Accretion of investment premiums | 0 | 0 | (60) |
Amortization of inventory step-up | 0 | 0 | 25,557 |
Amortization of debt issuance cost and accretion of discount on debt and leases | 1,577 | 1,148 | 763 |
Stock-based compensation | 32,060 | 31,721 | 32,668 |
Deferred income taxes | (15,693) | (12,144) | (31,767) |
Loss on disposal of property and equipment | 46 | 430 | 168 |
Loss on sale of available-for-sale securities | 0 | 0 | 38 |
Impairment of leasehold improvements | 1,442 | 735 | 0 |
Impairment of leased right-of-use assets | 9,240 | 0 | 0 |
Gain on extinguishment of lease liabilities | (10,437) | 0 | 0 |
(Gain) loss on foreign currency | 760 | (809) | 2,153 |
Excess tax benefits on stock-based awards | (4,064) | (2,028) | (8,559) |
Changes in operating assets and liabilities, net of acquisitions: | |||
Accounts receivable | 9,090 | 6,595 | (4,377) |
Inventory | 10,195 | 11,696 | (1,788) |
Prepaid expenses and other assets | 3,805 | 1,071 | 1,272 |
Leased right-of-use assets | 3,044 | 0 | 0 |
Accounts payable, accrued expenses and other current liabilities | 1,261 | 5,923 | (1,918) |
Accrued compensation | 2,021 | 8,961 | 1,567 |
Deferred revenue and deferred profit | 0 | (138) | (1,629) |
Accrued price protection liability | (3,966) | (5,117) | 6,395 |
Lease liabilities | (8,142) | 0 | 0 |
Other long-term liabilities | (394) | (381) | (5,103) |
Net cash provided by operating activities | 78,348 | 102,689 | 75,064 |
Investing Activities | |||
Purchases of property and equipment | (6,887) | (7,825) | (7,468) |
Proceeds from sale of property and equipment | 0 | 0 | 30 |
Purchases of intangible assets | (86) | 0 | (5,378) |
Cash used in acquisitions, net of cash acquired | 0 | 0 | (473,304) |
Purchases of available-for-sale securities | 0 | 0 | (30,577) |
Maturities of available-for-sale securities | 0 | 0 | 84,546 |
Net cash used in investing activities | (6,973) | (7,825) | (432,151) |
Financing Activities | |||
Net proceeds from the issuance of debt | 0 | 0 | 416,846 |
Repayment of debt | (50,000) | (93,000) | (70,000) |
Repurchases of common stock | 0 | 0 | (334) |
Net proceeds from issuance of common stock | 8,603 | 6,839 | 12,052 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (11,986) | (7,623) | (11,543) |
Net cash provided by (used in) financing activities | (53,383) | (93,784) | 347,021 |
Effect of exchange rate changes on cash and cash equivalents | 934 | (1,301) | 1,582 |
Increase (decrease) in cash, cash equivalents and restricted cash | 18,926 | (221) | (8,484) |
Cash, cash equivalents and restricted cash at beginning of period | 74,191 | 74,412 | 82,896 |
Cash, cash equivalents and restricted cash at end of period | 93,117 | 74,191 | 74,412 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 11,259 | 13,957 | 8,843 |
Cash paid for income taxes | 4,417 | 5,426 | 9,435 |
Supplemental disclosures of non-cash investing and financing activities: | |||
Issuance of shares for payment of bonuses | $ 7,632 | $ 6,997 | $ 3,314 |
Issuance of restricted stock units to Physpeed continuing employees | 0 | 0 | 818 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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. Certain prior period amounts have been reclassified to conform with the current period presentation. Such reclassifications include the separate presentation of long-term lease liabilities and movement of certain tax-related receivables to prepaid expenses and other current assets on the consolidated balance sheets. 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. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. As of December 31, 2019 and 2018 , the Company had an allowance for doubtful accounts of $0 and $0.05 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 is computed using standard cost, which 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 2019 , 2018 , and 2017 , the Company identified impairment of intangible assets of $0 , $2.2 million and $2.0 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 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 were not 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 the Company's 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 15 . The Company assesses customer accounts receivable and contract assets for impairment in accordance with ASC 310-10-35. 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, 2019 and 2018 , the Company has warranty reserves of $0.6 million and $0.5 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 performance-based restricted stock units based on the fair market value of the Company’s common stock on the grant date. Stock-based compensation expense is then determined based on the number of restricted stock units that are expected to vest; for performance-based restricted stock units, this is the number of units that are expected to vest during the performance period if it is probable that the Company will achieve the performance metrics specified in the underlying award agreement. 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. Leases On January 1, 2019, the Company adopted Financial Accounting Standards Board, or FASB, Accounting Standards Codification Topic 842, Leases , or ASC 842, using the modified retrospective transition method with a cumulative effect adjustment to accumulated deficit as of January 1, 2019, and accordingly, modified its policy on accounting for leases as stated below . As described under “Recently Adopted Accounting Pronouncements,” below, the primary impact of adopting ASC 842 for the Company was the recognition in the consolidated balance sheet of certain lease-related assets and liabilities for operating leases with terms longer than 12 months. Such amounts were not previously accounted for in the Company's consolidated balance sheets. The Company’s leases primarily consist of facility leases which are classified as operating leases. The Company assesses whether an arrangement contains a lease at inception. The Company recognizes a lease liability to make contractual payments under all leases with terms greater than twelve months and a corresponding right-of-use asset, representing its right to use the underlying asset for the lease term. The lease liability is initially measured at the present value of the lease payments over the lease term using the collateralized incremental borrowing rate since the implicit rate is unknown. Options to extend or terminate a lease are included in the lease term when it is reasonably certain that the Company will exercise such an option. The right-of-use asset is initially measured as the contractual lease liability plus any initial direct costs and prepaid lease payments made, less any lease incentives. Upon adoption of ASC 842 on January 1, 2019, the carrying value of lease-related restructuring liabilities for certain restructured leases existing at that date, was offset against the related right-of-use assets. Lease expense is recognized on a straight-line basis over the lease term. Upon adoption of ASC 842, the Company elected certain practical expedients and accordingly has (1) carried forward its prior assessments of (a) whether existing contracts on the January 1, 2019 adoption date contain leases, (b) classification of leases as operating or financing and (c) initial direct costs for existing leases and (2) considered hindsight in determining the lease term and assessing impairment of the right-of-use-asset. In addition, the Company used a portfolio approach for its facility leases when making judgments and estimates, such as the discount rate. Leased right-of-use assets are subject to impairment testing as a long-lived asset at the asset-group level. The Company monitors its long-lived assets for indicators of impairment. As the Company's leased right-of-use assets primarily relate to facility leases, early abandonment of all or part of facility as part of a restructuring plan is typically an indicator of impairment. If impairment indicators are present, the Company tests whether the carrying amount of the leased right-of-use asset is recoverable including consideration of sublease income, and if not recoverable, measures impairment loss for the right-of-use asset or asset group. 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. In 2018, the Company made an accounting policy election to treat Global Intangible Low Taxed Income in accordance with the Tax Act as a period cost. 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. 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 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 leases less than twelve months, an entity is permitted to make an accounting policy election by class of underlying asset not to recognize right-of-use 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 made this election. 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 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 made this election. Further, in January 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements , which clarified that post-adoption interim transition disclosures normally required in the year of adoption for the effect of a change in accounting principle on an entity’s financial statements are not required for the adoption of ASC 842. The amendments in these updates are effective for the Company for fiscal years beginning with 2019, including interim periods within those years, with early adoption permitted. The Company has completed its assessment of the impact of the adoption of ASC 842. Upon adoption, the Company recognized approximately $24.8 million of right-of-use assets and a net increase of $25.1 million in lease-related liabilities at January 1, 2019. Also, the impact of the adoption of ASC 842 on the Company’s accumulated deficit and deferred tax assets at January 1, 2019 was not material. Lastly, the impact of the adoption of ASC 842 on the Company's consolidated results of operations for the year ending December 31, 2019 was not material. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases , to clarify 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 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 cir |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 2018 2017 (in thousands, except per share amounts) Numerator: Net loss $ (19,898 ) $ (26,199 ) $ (9,187 ) Denominator: Weighted average common shares outstanding—basic 71,005 68,490 66,252 Dilutive common stock equivalents — — — Weighted average common shares outstanding—diluted 71,005 68,490 66,252 Net loss per share: Basic $ (0.28 ) $ (0.38 ) $ (0.14 ) Diluted $ (0.28 ) $ (0.38 ) $ (0.14 ) For the years ended December 31, 2019 , 2018 and 2017, the Company incurred net losses and accordingly excluded common stock equivalents for outstanding stock-based awards, which represented all potentially dilutive securities, of 2.5 million , 3.7 million , and 4.5 million |
Business Combinations (Notes)
Business Combinations (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 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 ). 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 completed its purchase price allocation accounting associated with this acquisition in 2018. 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 completed its purchase price allocation accounting associated with this acquisition in 2018. |
Restructuring Activity
Restructuring Activity | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Activity | Restructuring Activity From time to time, the Company approves and implements restructuring plans as a result of 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, 2019 2018 2017 (in thousands) Employee separation expenses $ 1,150 $ 2,094 $ 8,353 Lease related expenses 1,301 1,608 1,025 Other 185 136 146 $ 2,636 $ 3,838 $ 9,524 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 following table presents a roll-forward of the Company's restructuring liability for the years ended December 31, 2019 and 2018 . The restructuring liability is included in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets. Employee Separation Expenses Lease Related Expenses Other Total (in thousands) 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 Restructuring charges 1,150 1,301 185 2,636 Transfer to right-of-use asset — (299 ) — (299 ) Cash payments (1,559 ) (1,720 ) (163 ) (3,442 ) Non-cash charges and adjustments — 46 (50 ) (4 ) Liability as of December 31, 2019 — 818 19 837 Less: current portion as of December 31, 2019 — (275 ) (19 ) (294 ) Long-term portion as of December 31, 2019 $ — $ 543 $ — $ 543 Remaining lease related charges as of December 31, 2019 primarily consist of common area maintenance obligations. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets Notes | 12 Months Ended |
Dec. 31, 2019 | |
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). The following table presents the changes in the carrying amount of goodwill for the periods indicated: Years Ended December 31, 2019 2018 (in thousands) Beginning balance $ 238,330 $ 237,992 Adjustments — 338 Ending balance $ 238,330 $ 238,330 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, 2019 . In addition to its annual review, the Company performs a test of impairment when indicators of impairment are present. As of December 31, 2019 , 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, 2019 December 31, 2018 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 $ 2,156 $ (1,583 ) $ 573 $ 2,070 $ (1,130 ) $ 940 Developed technology 6.9 243,361 (108,522 ) 134,839 238,961 (74,630 ) 164,331 Trademarks and trade names 6.1 13,800 (6,511 ) 7,289 13,800 (4,252 ) 9,548 Customer relationships 4.6 121,100 (75,847 ) 45,253 121,100 (55,647 ) 65,453 Non-compete covenants 3.0 1,100 (1,083 ) 17 1,100 (872 ) 228 6.1 $ 381,517 $ (193,546 ) $ 187,971 $ 377,031 $ (136,531 ) $ 240,500 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, 2019 2018 2017 Cost of net revenue $ 33,932 $ 35,821 $ 25,316 Research and development 48 150 551 Selling, general and administrative 23,035 31,976 28,827 $ 57,015 $ 67,947 $ 54,694 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, 2019 and 2018 related to finite-lived intangible assets: Years Ended December 31, 2019 2018 (in thousands) Beginning balance $ 240,500 $ 310,645 Other additions 86 — Transfers to developed technology from IPR&D 4,400 — Amortization (57,015 ) (67,947 ) Impairment losses — (2,198 ) Ending balance $ 187,971 $ 240,500 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. During the years ended December 31, 2019 and 2017, no impairment losses related to finite-lived intangible assets were recognized. Impairment loss related to finite-lived intangible assets for the year ended December 31, 2018 was $2.2 million and related to acquired developed technology. The following table presents future amortization of the Company’s finite-lived intangible assets at December 31, 2019 : Amortization (in thousands) 2020 $ 56,610 2021 55,828 2022 38,298 2023 26,075 2024 10,098 Thereafter 1,062 Total $ 187,971 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, 2019 2018 (in thousands) Beginning balance $ 4,400 $ 4,400 Transfers to developed technology from IPR&D (4,400 ) — Ending balance $ — $ 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, 2019 , no indicators of impairment were identified. In the years ended December 31, 2019 and 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 the Company's abandonment of a single IPR&D project. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | Financial Instruments The composition of financial instruments is as follows: December 31, 2019 December 31, 2018 (in thousands) Assets Interest rate swap $ — $ 1,623 Liabilities Interest rate swap $ 37 $ — 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, 2019 and 2018 , 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 $ — Liabilities Interest rate swap, December 31, 2019 $ 37 $ — $ 37 $ — The following table summarizes activity for the interest rate swap: Fair Value at December 31, 2019 2018 (in thousands) Interest rate swap Beginning balance $ 1,623 $ 734 Unrealized gain (loss) recognized in other comprehensive income (loss) (1,660 ) 889 Ending balance $ (37 ) $ 1,623 There were no transfers between Level 1, Level 2 or Level 3 fair value hierarchy categories of financial instruments in the years ended December 31, 2019 and 2018 . 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, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Details | Balance Sheet Details Cash, cash equivalents, and restricted cash consist of the following: December 31, 2019 December 31, 2018 (in thousands) Cash and cash equivalents $ 92,708 $ 73,142 Short-term restricted cash 349 645 Long-term restricted cash 60 404 Total cash, cash equivalents and restricted cash $ 93,117 $ 74,191 As of December 31, 2019 and December 31, 2018 , cash and cash equivalents included $20.4 million and $0 of money market funds, respectively. As of December 31, 2019 and 2018 , the Company has restricted cash of $0.4 million and $1.0 million , respectively. The cash is restricted in connection with guarantees for certain import duties and office leases. Inventory consists of the following: December 31, 2019 December 31, 2018 (in thousands) Work-in-process $ 14,525 $ 17,618 Finished goods 16,985 24,120 $ 31,510 $ 41,738 Property and equipment consist of the following: Useful Life (in Years) December 31, 2019 December 31, 2018 (in thousands) Furniture and fixtures 5 $ 2,199 $ 2,020 Machinery and equipment 3-5 35,660 34,225 Masks and production equipment 2-5 15,209 12,645 Software 3 5,956 5,675 Leasehold improvements 1-5 16,186 17,493 Construction in progress N/A 746 133 75,956 72,191 Less accumulated depreciation and amortization (59,343 ) (53,787 ) $ 16,613 $ 18,404 Depreciation expense for the years ended December 31, 2019 , 2018 , and 2017 was $7.3 million , $11.1 million , and $12.0 million , respectively. Accrued price protection liability consists of the following activity: Years Ended December 31, 2019 2018 (in thousands) Beginning balance $ 16,454 $ 21,571 Charged as a reduction of revenue 24,449 34,288 Reversal of unclaimed rebates (42 ) (2,413 ) Payments (28,304 ) (36,992 ) Ending balance $ 12,557 $ 16,454 Accrued expenses and other current liabilities consist of the following: December 31, 2019 December 31, 2018 (1) (in thousands) Accrued technology license payments $ 4,500 $ 4,500 Accrued professional fees 861 1,270 Accrued engineering and production costs 4,491 646 Accrued restructuring 294 1,946 Accrued royalty 923 980 Short-term lease liabilities 4,810 1,214 Accrued customer credits 832 1,204 Income tax liability 65 784 Customer contract liabilities 107 71 Accrued obligations to customers for price adjustments 8,382 7,558 Accrued obligations to customers for stock rotation rights 1,410 1,494 Other 4,496 6,615 $ 31,171 $ 28,282 ___________ (1) Due to the adoption of ASC 842 on January 1, 2019 with a cumulative effect adjustment to accumulated deficit, prior period amounts have not been adjusted to include short-term lease payment obligations. 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, 2017 $ 562 $ 477 $ 1,039 Other comprehensive income (loss) before reclassifications, net of tax (1,572 ) 702 (870 ) Net current period other comprehensive income (loss) (1,572 ) 702 (870 ) Cumulative effect of adoption of new accounting principles 103 — 103 Balance at December 31, 2018 (907 ) 1,179 272 Other comprehensive income (loss) before reclassifications, net of tax 160 (1,319 ) (1,159 ) Net current period other comprehensive income (loss) 160 (1,319 ) (1,159 ) Balance at December 31, 2019 $ (747 ) $ (140 ) $ (887 ) |
Debt and Interest Rate Swap (No
Debt and Interest Rate Swap (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 December 31, 2018 (in thousands) Principal $ 212,000 $ 262,000 Less: Unamortized debt discount (1,328 ) (1,630 ) Unamortized debt issuance costs (3,763 ) (4,613 ) Net carrying amount of long-term debt 206,909 255,757 Less: current portion of long-term debt — — Long-term debt, non-current portion $ 206,909 $ 255,757 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 $213.0 million to date through December 31, 2019 . 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, 2019 , 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, 2019 and 2018 , the weighted average effective interest rate on long-term debt was approximately 4.9% and 4.6% , 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, 2019 , the Company recognized amortization of debt discount of $0.3 million and debt issuance costs of $0.9 million to interest expense. 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, 2019 and 2018 was $214.6 million and $268.1 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, 2019 and 2018 , the remaining principal balance on the term loan was $212.0 million and $262.0 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, 2019 and 2018 , the fair value of the interest rate swap was a $0.04 million liability and $1.6 million asset, respectively (Note 6 ). The interest rate swap is included in other current liabilities in the consolidated balance sheets as of December 31, 2019. The change in fair value related to the interest rate swap asset included in other comprehensive income (loss) for the years ended December 31, 2019 , 2018 , and 2017 was a $1.7 million decrease, $0.9 million increase, and $0.7 million increase in fair value, respectively. The interest rate swap expires in October 2020 and the total $0.04 million of unrealized loss recorded in accumulated other comprehensive income (loss) at December 31, 2019 is expected to be recorded in interest expense over the next twelve months, upon expiration of the interest rate swap. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [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, 2019 , 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 years 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, 2019 , the number of shares reserved for future issuance under the 2010 Plan and awards outstanding under the 2004 Plan are 13,754,656 shares and 3,000 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, 2019 , the number of shares of common stock reserved for future issuance under the ESPP is 2,752,186 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 2019 and 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 2018 and 2017 performance periods, respectively. At December 31, 2019 , an accrual of $3.5 million was recorded for bonus awards for employees for the 2019 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, 2019 2018 2017 (in thousands) Cost of net revenue $ 577 $ 489 $ 332 Research and development 16,545 17,953 16,190 Selling, general and administrative 14,938 13,279 11,016 Restructuring expense — — 5,130 $ 32,060 $ 31,721 $ 32,668 The total unrecognized compensation cost related to unvested restricted stock units as of December 31, 2019 was $48.6 million , and the weighted average period over which these equity awards are expected to vest is 2.59 years. The total unrecognized compensation cost related to performance-based restricted stock units as of December 31, 2019 was $3.6 million , and the weighted average period over which these equity awards are expected to vest is 1.6 years . The total unrecognized compensation cost related to unvested stock options as of December 31, 2019 was $2.0 million , and the weighted average period over which these equity awards are expected to vest is 2.30 years. Restricted Stock Units A summary of the Company’s restricted stock unit activity is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2018 3,263 $ 20.23 Granted 1,580 23.23 Vested (1,541 ) 20.16 Canceled (378 ) 21.52 Outstanding at December 31, 2019 2,924 21.72 Performance-Based Restricted Stock Units Performance-based restricted stock units are eligible to vest at the end of each fiscal year in a three-year performance period based on the Company’s annual growth rate in net sales and non-GAAP diluted earnings per share (subject to certain adjustments) over a multiple of four times the related results for the fourth quarter of 2018 relative to the growth rates for a peer group of companies for the same metrics and periods. For the performance-based restricted stock units granted in 2019, 60% of each performance-based award is subject to the net sales metric for the performance period and 40% is subject to the non-GAAP diluted earnings per share metric for the performance period. The maximum percentage for a particular metric is 250% of the target number of units subject to the award related to that metric, however, vesting of the performance stock units is capped at 30% and 100% , respectively, of the target number of units subject to the award in years one and two, respectively, of the three-year performance period. As of December 31, 2019 , the Company believes that it is probable that the Company will achieve performance metrics specified in the award agreement based on its expected revenue and non-GAAP diluted EPS results over the performance period and calculated growth rates relative to its peers’ expected results based on data available, as defined in the award agreement. A summary of the Company’s performance-based restricted stock unit activity is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2018 — $ — Granted (1) 445 22.21 Outstanding at December 31, 2019 445 22.21 ________________ (1) Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit award. Employee Stock Purchase Rights and Stock Options Employee Stock Purchase Rights During the year ended December 31, 2019 , there were 248,067 shares of common stock purchased under the ESPP at a weighted average price of $16.57 . 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, 2019 2018 2017 Weighted-average grant date fair value per share $5.48 - 6.61 $5.01 - $5.37 $6.20 - $7.46 Risk-free interest rate 1.59 - 2.43% 2.09 - 2.51% 0.60 - 1.39% Dividend yield — % — % — % Expected term (in years) 0.5 0.5 0.38 - 0.50 Volatility 40.47 - 43.14% 38.82 - 46.17% 29.56 - 49.94% The risk-free interest rate assumption was based on the United States (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 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, 2018 2,659 $ 10.27 Exercised (1,300 ) 7.28 Canceled (22 ) 18.09 Outstanding at December 31, 2019 1,337 $ 13.05 2.56 $ 11,259 Vested and expected to vest at December 31, 2019 1,329 $ 13.02 2.55 $ 11,239 Exercisable at December 31, 2019 1,094 $ 11.87 1.93 $ 10,549 No stock options were granted by the Company during the year ended December 31, 2019 . The fair values of stock options granted in 2018 and 2017 were estimated using the Black-Scholes option pricing model on the grant date using the following assumptions: Years Ended December 31, 2018 2017 (1) Weighted-average grant date fair value per share $ 8.14 8.77 - 21.04 Risk-free interest rate 2.76 % 1.29% - 1.99% Dividend yield — % — % Expected term (in years) 5.50 1.6 - 6.0 Volatility 44.30 % 45.39% - 50.32% _____________ (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. The risk-free interest rate assumption was based on the U.S. Treasury's rates for 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 2019 , 2018 and 2017 was $22.2 million , $8.1 million , and $16.3 million , respectively. Cash received from exercise of stock options was $4.5 million , $0.7 million and $7.9 million during the years ended December 31, 2019 , 2018 and 2017 , respectively. The tax benefit from stock options exercised was $20.7 million , $7.8 million , and $11.9 million during the years ended December 31, 2019 , 2018 and 2017 , respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The domestic and international components of loss before income taxes are presented as follows: Years Ended December 31, 2019 2018 2017 (in thousands) Domestic $ (61,893 ) $ 16,405 $ 42,580 Foreign 29,409 (49,257 ) (76,578 ) Loss before income taxes $ (32,484 ) $ (32,852 ) $ (33,998 ) The income tax provision (benefit) consists of the following: Years Ended December 31, 2019 2018 2017 (in thousands) Current: Federal $ 1,604 $ 3,292 $ 13,470 State 16 37 26 Foreign 1,560 1,640 1,784 Total current 3,180 4,969 15,280 Deferred: Federal (13,793 ) 788 19,451 State (1,829 ) (2,799 ) (4,668 ) Foreign 1,095 (3,884 ) (3,697 ) Change in valuation allowance (1,239 ) (5,727 ) (51,177 ) Total deferred (15,766 ) (11,622 ) (40,091 ) Total income tax benefit $ (12,586 ) $ (6,653 ) $ (24,811 ) The actual income tax provision (benefit) differs from the amount computed using the federal statutory rate as follows: Years Ended December 31, 2019 2018 2017 (in thousands) Provision (benefit) at statutory rate $ (6,821 ) $ (6,814 ) $ (11,899 ) State income taxes (net of federal benefit) 11 20 17 Research and development credits (7,815 ) (8,849 ) (8,153 ) Foreign rate differential (4,489 ) 8,640 23,666 Stock compensation (2,750 ) 74 (5,713 ) Foreign income inclusion 3,936 1,103 — Transaction costs — — 553 Provision to return 1,887 (27 ) (917 ) Uncertain tax positions 1,244 1,463 1,993 Foreign tax credits — — (5 ) Permanent and other 716 1,319 1,730 Foreign unremitted earnings (103 ) 1,960 (1,368 ) Tax Act — 185 25,205 Other tax rate changes — — 1,257 Attribute expirations 2,837 — — Valuation allowance (1,239 ) (5,727 ) (51,177 ) Total income tax benefit $ (12,586 ) $ (6,653 ) $ (24,811 ) The components of the deferred income tax assets are as follows: December 31, 2019 2018 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 65,477 $ 64,887 Research and development credits 80,404 75,032 Accrued expenses and other 7,768 7,965 Lease obligation 2,047 — Accrued compensation 1,441 2,504 Stock-based compensation 3,460 2,550 160,597 152,938 Less valuation allowance (77,957 ) (79,196 ) 82,640 73,742 Deferred tax liabilities: Fixed assets (246 ) (1,391 ) Leased right-of-use assets (1,483 ) — Intangible assets (13,627 ) (20,833 ) Net deferred tax assets $ 67,284 $ 51,518 At December 31, 2019 , the Company had federal, state and foreign tax net operating loss carryforwards of approximately $269.3 million , $86.4 million and $11.7 million , respectively. The federal, state and foreign tax loss carryforwards will begin to expire in 2020 , 2020 and 2026 respectively, unless previously utilized. At December 31, 2019 , the Company had federal, state and foreign tax credit carryforwards of approximately $41.8 million , $86.3 million and $5.7 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 $24.5 million that do not expire. In addition, the Company has $0.3 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 maintain 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, 2019 primarily related to the mix of pre-tax income among jurisdictions, discrete tax benefits related to stock-based compensation, and release of certain reserves for uncertain tax positions under ASC 740-10. The income tax benefit for the year ended December 31, 2018 primarily related to a partial release of the Company's valuation allowance 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 and the effects of the Tax Act. 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, 2019 , the Company’s unrecognized tax benefits totaled $62.0 million , $52.7 million of which, if recognized at a time when the valuation allowance no longer exists, would affect the effective tax rate. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. At December 31, 2019 and 2018 , the Company had accrued interest and penalties of approximately $0.9 million and $1.1 million , respectively. The total amounts of interest and penalties recognized for the years ended December 31, 2019, 2018 and 2017 were not material. The following table summarizes the changes to the unrecognized tax benefits during 2019 , 2018 and 2017 : (in thousands) 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 Additions based on tax positions related to the current year 1,678 Decreases based on tax positions of prior year (1,121 ) Balance as of December 31, 2019 $ 62,027 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, 2019 , the statutes of limitations for the assessment of federal, state, and foreign income taxes are closed for the years before 2016 , 2015 and 2014 , 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, 2018, or 2019. |
Employee Retirement Plan
Employee Retirement Plan | 12 Months Ended |
Dec. 31, 2019 | |
Postemployment Benefits [Abstract] | |
Employee Retirement Plan | Employee Retirement PlanThe 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. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Leases Operating Leases Operating lease arrangements primarily consist of office leases expiring at various years through 2023 . These leases often have original terms of 3 to 5 years and contain options to extend the lease up to 5 years or terminate the lease, which are included in leased right-of-use assets and lease liabilities in the consolidated balance sheet when the Company is reasonably certain it will renew the underlying leases. Since the implicit rate of such leases is unknown and the Company is not reasonably certain to renew its leases, the Company has elected to apply a collateralized incremental borrowing rate to facility leases on the original lease term in calculating the present value of future lease payments. As of December 31, 2019 , the weighted average discount rate for operating leases was 5.0% and the weighted average remaining lease term for operating leases was 2.9 years . The table below presents aggregate future minimum payments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of December 31, 2019 : Operating Leases (in thousands) 2020 $ 5,406 2021 5,217 2022 3,591 2023 1,030 Total minimum payments 15,244 Less: imputed interest (1,096 ) Less: unrealized translation loss (3 ) Total lease liabilities 14,145 Less: short-term lease liabilities (4,810 ) Lease liabilities - long-term $ 9,335 Operating lease costs were $3.1 million , $4.5 million and $4.2 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Short-term lease costs for the year ended December 31, 2019 were not material. There were $0.5 million of right-of-use assets obtained in exchange for new lease liabilities for the year ended December 31, 2019 . Subleases 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, 2019 , future minimum rental income under non-cancelable subleases are as follows: Amount (in thousands) 2020 $ 644 2021 546 2022 488 2023 291 $ 1,969 Total sublease income related to leased facilities the Company ceased using in connection with a restructuring plan for the years ended December 31, 2019 , 2018 and 2017 was approximately $1.2 million , $2.4 million and $ 2.1 million , respectively (Note 4 ). Lease Terminations In the year ended December 31, 2019 , the Company terminated certain facility leases and a related sublease, which were due to expire in 2022 to 2023, upon release from the landlords. The Company had previously ceased use of all or portions of the related facilities. As a result of such terminations, the Company reduced leased right-of-use assets by approximately $9.2 million , lease liabilities by approximately $10.1 million , and other related liabilities by approximately $0.3 million in the consolidated balance sheet. The related net impact in the consolidated statement of operations was a gain of approximately $1.2 million , which consisted of a gain on extinguishment of lease-related liabilities of $10.4 million , partially offset by impairment of leased right-of-use assets of $9.2 million . The Company also recorded impairment of related leasehold improvements of $1.4 million . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Inventory Purchase and Other Contractual Obligations As of December 31, 2019 , future minimum payments under inventory purchase and other obligations are as follows: Inventory Purchase Obligations Other Obligations Total (in thousands) 2020 $ 15,093 $ 5,735 $ 20,828 2021 — 893 893 2022 — 425 425 2023 — 447 447 Total minimum payments $ 15,093 $ 7,500 $ 22,593 Other obligations consist of contractual payments due for software licenses. CrestaTech Litigation The Company was a defendant in patent litigation originally filed by CrestaTech Technology Corporation, or CrestaTech. On January 21, 2014, CrestaTech filed a complaint for patent infringement against the Company in the United States District Court of Delaware, or District Court Litigation, alleging 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. Following the litigation history described in the Company’s prior filings on Form 10-K and Form 10-Q, the District Court dismissed the District Court Litigation in April 2018. While the successor plaintiff following a Chapter 7 bankruptcy proceeding of CrestaTech below had suggested that the dismissal may have been in error, it took no action to re-instate the case. In the related bankruptcy proceeding, the plaintiff stated that it “no longer has any valid patent claims that it is asserting in any of the proceedings purchased under 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. In November 2019, the Company entered into a settlement agreement with CF Crespe resolving all outstanding matters with CF Crespe and CrestaTech (its predecessor-in-interest). On December 5, 2019, the Federal Circuit dismissed the Company’s appeal from the inter partes review of CF Crespe’s patent number 7,075,585 -- the only remaining active matter as of the parties’ settlement. The terms of the settlement are confidential, and the settlement did not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. 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 parties entered into a settlement agreement and on June 6, 2019, the case was dismissed with prejudice. The terms of the settlement are confidential, and the settlement did not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. 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. 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, 2019 | |
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 sells its products both directly to customers and through third-party distributors, both of which are referred to as the Company’s customers (Note 15). 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, 2019 2018 2017 Percentage of total net revenue Customer A (direct) 14 % 18 % 25 % Balances greater than 10% of accounts receivable, based on the Company's billings to the contract manufacturer customers, are as follows: December 31, 2019 2018 Percentage of gross accounts receivable Customer B 10 % 10 % Suppliers comprising greater than 10% of total inventory purchases are as follows: Years ended December 31, 2019 2018 2017 Vendor A 17 % 16 % 21 % Vendor B 15 % 13 % 11 % Vendor C 14 % 19 % 16 % Vendor D 13 % 15 % 15 % Vendor E * * 14 % * 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, 2019 2018 2017 Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Asia $ 265,122 84 % $ 312,877 81 % $ 372,103 89 % United States 13,984 4 % 18,060 5 % 10,829 2 % Rest of world 38,074 12 % 54,060 14 % 37,386 9 % Total $ 317,180 100 % $ 384,997 100 % $ 420,318 100 % 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, 2019 2018 2017 Percentage of total net revenue China 60 % 63 % 71 % 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. Although a large percentage of the Company’s products is shipped to Asia, and in particular, China, the Company believes that a significant number of the systems designed by customers and incorporating the Company’s semiconductor products are subsequently sold outside Asia to Europe, Middle East, and Africa, or EMEA markets and North American markets. Long-lived assets, which consists of property and equipment, net, leased right-of-use assets, intangible assets, net, and goodwill, by geographic area are as follows (in thousands): As of December 31, 2019 2018(1) Amount % of total Amount % of total United States $ 385,302 85 % $ 426,321 85 % Singapore 63,556 14 % 71,945 14 % Rest of world 5,034 1 % 3,368 1 % Total $ 453,892 100 % $ 501,634 100 % _____________ (1) Amounts do not include leased right-of-use assets in the prior period due to the adoption of ASC 842 under the modified retrospective method with a cumulative effect adjustment to accumulated deficit as of January 1, 2019. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2019 | |
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): Year Ended December 31, 2019 2018 2017 (1) Connected home $ 152,674 $ 207,336 $ 288,610 % of net revenue 48 % 54 % 69 % Infrastructure 85,369 82,388 71,779 % of net revenue 27 % 21 % 17 % Industrial and multi-market 79,137 95,273 59,929 % of net revenue 25 % 25 % 14 % Total net revenue $ 317,180 $ 384,997 $ 420,318 ______________ (1) Due to the adoption of ASC 606 on January 1, 2018 using the modified retrospective method, amounts prior to 2018 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. Revenues from sales to the Company’s distributors accounted for 52% , 42% and 34% of net revenue for the years ended December 31, 2019 , 2018 and 2017 , respectively. Contract Liabilities As of December 31, 2019 and 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 and $0.1 million , respectively. Revenue recognized in the years ended December 31, 2019 and 2018 that was included in the contract liability balance as of the beginning of those respective years was immaterial. There were no material changes in the contract liabilities balance during the years ended December 31, 2019 and 2018 . Obligations to Customers for Price Adjustments and Returns and Assets for Right-of-Returns As of December 31, 2019 and 2018 , obligations to customers consisting of estimates of price protection rights offered to the Company's end customers totaled $12.6 million and $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 . As of December 31, 2019 and 2018 , other obligations to customers representing estimates of price adjustments to be claimed by distributors upon sell-through of their inventory to their end customer were $8.4 million and $7.6 million , respectively. As of December 31, 2019 and 2018 , other obligations to customers representing estimates of stock rotation returns to be claimed by distributors on products sold were $1.4 million and $1.5 million , respectively. Obligations to customers for estimates of price adjustments and stock rotation return rights are included in accrued expenses and other current liabilities in the consolidated balance sheets (Note 7 ). The increase in revenue in the years ended December 31, 2019 and 2018 from net changes in transaction prices for amounts included in obligations to customers for price adjustments as of the beginning of those respective years was not material. As of December 31, 2019 and 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 and $0.3 million , respectively. Right of return assets are included in inventory in the consolidated balance sheets (Note 7 ). As of December 31, 2019 and 2018 , there were no impairment losses recorded on customer accounts receivable. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 . 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. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period. Year Ended December 31, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands, except per share amounts) Net revenue $ 84,635 $ 82,507 $ 80,020 $ 70,018 Gross profit $ 45,077 $ 44,080 $ 41,904 $ 36,624 Net loss $ (4,851 ) $ (2,229 ) $ (4,714 ) $ (8,104 ) Net loss per share: Basic $ (0.07 ) $ (0.03 ) $ (0.07 ) $ (0.11 ) Diluted $ (0.07 ) $ (0.03 ) $ (0.07 ) $ (0.11 ) 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 |
Item 15 (Notes)
Item 15 (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 $ 46 $ — $ — $ (46 ) $ — 2018 73 — — (27 ) 46 2017 87 133 27 (174 ) 73 Warranty reserves 2019 $ 519 $ 74 $ — $ (40 ) $ 553 2018 941 (414 ) — (8 ) 519 2017 860 492 122 (533 ) 941 Valuation allowance for deferred tax assets 2019 $ 79,196 $ (1,239 ) $ — $ — $ 77,957 2018 84,560 (5,761 ) 397 — 79,196 2017 100,284 (50,881 ) 35,157 — 84,560 |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
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. Certain prior period amounts have been reclassified to conform with the current period presentation. Such reclassifications include the separate presentation of long-term lease liabilities and movement of certain tax-related receivables to prepaid expenses and other current assets on the consolidated balance sheets. 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 |
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. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. As of December 31, 2019 and 2018 , the Company had an allowance for doubtful accounts of $0 and $0.05 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 is computed using standard cost, which 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 2019 , 2018 , and 2017 , the Company identified impairment of intangible assets of $0 , $2.2 million and $2.0 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 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 were not 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 the Company's 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 15 . The Company assesses customer accounts receivable and contract assets for impairment in accordance with ASC 310-10-35. |
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, 2019 and 2018 , the Company has warranty reserves of $0.6 million and $0.5 million |
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 Payment Arrangement [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 performance-based restricted stock units based on the fair market value of the Company’s common stock on the grant date. Stock-based compensation expense is then determined based on the number of restricted stock units that are expected to vest; for performance-based restricted stock units, this is the number of units that are expected to vest during the performance period if it is probable that the Company will achieve the performance metrics specified in the underlying award agreement. 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. |
Significant Accounting Policies [Text Block] | Leases On January 1, 2019, the Company adopted Financial Accounting Standards Board, or FASB, Accounting Standards Codification Topic 842, Leases , or ASC 842, using the modified retrospective transition method with a cumulative effect adjustment to accumulated deficit as of January 1, 2019, and accordingly, modified its policy on accounting for leases as stated below . As described under “Recently Adopted Accounting Pronouncements,” below, the primary impact of adopting ASC 842 for the Company was the recognition in the consolidated balance sheet of certain lease-related assets and liabilities for operating leases with terms longer than 12 months. Such amounts were not previously accounted for in the Company's consolidated balance sheets. The Company’s leases primarily consist of facility leases which are classified as operating leases. The Company assesses whether an arrangement contains a lease at inception. The Company recognizes a lease liability to make contractual payments under all leases with terms greater than twelve months and a corresponding right-of-use asset, representing its right to use the underlying asset for the lease term. The lease liability is initially measured at the present value of the lease payments over the lease term using the collateralized incremental borrowing rate since the implicit rate is unknown. Options to extend or terminate a lease are included in the lease term when it is reasonably certain that the Company will exercise such an option. The right-of-use asset is initially measured as the contractual lease liability plus any initial direct costs and prepaid lease payments made, less any lease incentives. Upon adoption of ASC 842 on January 1, 2019, the carrying value of lease-related restructuring liabilities for certain restructured leases existing at that date, was offset against the related right-of-use assets. Lease expense is recognized on a straight-line basis over the lease term. Upon adoption of ASC 842, the Company elected certain practical expedients and accordingly has (1) carried forward its prior assessments of (a) whether existing contracts on the January 1, 2019 adoption date contain leases, (b) classification of leases as operating or financing and (c) initial direct costs for existing leases and (2) considered hindsight in determining the lease term and assessing impairment of the right-of-use-asset. In addition, the Company used a portfolio approach for its facility leases when making judgments and estimates, such as the discount rate. Leased right-of-use assets are subject to impairment testing as a long-lived asset at the asset-group level. The Company monitors its long-lived assets for indicators of impairment. As the Company's leased right-of-use assets primarily relate to facility leases, early abandonment of all or part of facility as part of a restructuring plan is typically an indicator of impairment. If impairment indicators are present, the Company tests whether the carrying amount of the leased right-of-use asset is recoverable including consideration of sublease income, and if not recoverable, measures impairment loss for the right-of-use asset or asset group. |
Derivatives, Policy [Policy Text Block] | Derivatives and Hedging Activities |
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. In 2018, the Company made an accounting policy election to treat Global Intangible Low Taxed Income in accordance with the Tax Act as a period cost. |
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. |
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 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 leases less than twelve months, an entity is permitted to make an accounting policy election by class of underlying asset not to recognize right-of-use 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 made this election. 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 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 made this election. Further, in January 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements , which clarified that post-adoption interim transition disclosures normally required in the year of adoption for the effect of a change in accounting principle on an entity’s financial statements are not required for the adoption of ASC 842. The amendments in these updates are effective for the Company for fiscal years beginning with 2019, including interim periods within those years, with early adoption permitted. The Company has completed its assessment of the impact of the adoption of ASC 842. Upon adoption, the Company recognized approximately $24.8 million of right-of-use assets and a net increase of $25.1 million in lease-related liabilities at January 1, 2019. Also, the impact of the adoption of ASC 842 on the Company’s accumulated deficit and deferred tax assets at January 1, 2019 was not material. Lastly, the impact of the adoption of ASC 842 on the Company's consolidated results of operations for the year ending December 31, 2019 was not material. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases , to clarify 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 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 became effective for the Company beginning with fiscal year 2019. 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, 2019. 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 became effective for the Company beginning with fiscal year 2019. The amendments in this update were required to be applied prospectively. The adoption of the amendments in this update did not have a material impact on the Company's consolidated financial statements for the year ended December 31, 2019. In July 2019, the FASB issued ASU No. 2019-07, Codification Updates to SEC Sections—Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization, and Miscellaneous Updates, to align the FASB's Accounting Standards Codification with requirements of certain already effective SEC final rules, which included requiring interim presentation of changes in stockholders’ equity and eliminating certain other disclosures. The amendments in ASU No. 2019-07 were effective for the Company immediately in the third quarter 2019. The Company previously adopted the related SEC final rules in its 2018 Annual Report and Form 10-Q for the three months ended March 31, 2019. The adoption of the amendments in these updates did not have a material impact on the Company's consolidated financial position, results of operations, and disclosures. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , to require the use of an expected credit loss model that requires consideration of a broader range of information to estimate credit losses over the lifetime of the asset, replacing the current incurred loss methodology of recognizing credit losses that delays recognition until it is probable a loss has been incurred. An entity with trade receivables will be required to use historical loss information, current conditions, and reasonable and supportable forecasts to determine expected lifetime credit losses. Pooling of assets with similar risk characteristics is also required. Also, in April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, to clarify the inclusion of recoveries of trade receivables previously written off when estimating an allowance for credit losses. The amendments in this update are required to be applied using the modified retrospective method with an adjustment to accumulated deficit and are effective for the Company beginning with fiscal year 2020, including interim periods. The Company has performed an assessment of the impact of adoption of the amendments in these updates on the Company’s consolidated financial position and results of operations. Based on that assessment, the adoption of the amendments in this update will not have a material impact on the Company’s accounts receivable, net and accumulated deficit as of January 1, 2020 and is also not expected to have a material impact on the Company’s results of operations for the year ending December 31, 2020. 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 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. In December 2019, the FASB issued ASU No. 2019-12 Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes , to remove certain exceptions and improve consistency of application, including, among other things, requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The amendments in this update will be effective for the Company beginning with fiscal year 2021, with early adoption permitted. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. 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. |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Summary of Basic and Diluted Earnings Per Share | Years Ended December 31, 2019 2018 2017 (in thousands, except per share amounts) Numerator: Net loss $ (19,898 ) $ (26,199 ) $ (9,187 ) Denominator: Weighted average common shares outstanding—basic 71,005 68,490 66,252 Dilutive common stock equivalents — — — Weighted average common shares outstanding—diluted 71,005 68,490 66,252 Net loss per share: Basic $ (0.28 ) $ (0.38 ) $ (0.14 ) Diluted $ (0.28 ) $ (0.38 ) $ (0.14 ) |
Restructuring Activity Restruct
Restructuring Activity Restructuring Activity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 2018 2017 (in thousands) Employee separation expenses $ 1,150 $ 2,094 $ 8,353 Lease related expenses 1,301 1,608 1,025 Other 185 136 146 $ 2,636 $ 3,838 $ 9,524 |
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, 2019 and 2018 . The restructuring liability is included in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets. Employee Separation Expenses Lease Related Expenses Other Total (in thousands) 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 Restructuring charges 1,150 1,301 185 2,636 Transfer to right-of-use asset — (299 ) — (299 ) Cash payments (1,559 ) (1,720 ) (163 ) (3,442 ) Non-cash charges and adjustments — 46 (50 ) (4 ) Liability as of December 31, 2019 — 818 19 837 Less: current portion as of December 31, 2019 — (275 ) (19 ) (294 ) Long-term portion as of December 31, 2019 $ — $ 543 $ — $ 543 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets Tables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 2018 (in thousands) Beginning balance $ 238,330 $ 237,992 Adjustments — 338 Ending balance $ 238,330 $ 238,330 |
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, 2019 December 31, 2018 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 $ 2,156 $ (1,583 ) $ 573 $ 2,070 $ (1,130 ) $ 940 Developed technology 6.9 243,361 (108,522 ) 134,839 238,961 (74,630 ) 164,331 Trademarks and trade names 6.1 13,800 (6,511 ) 7,289 13,800 (4,252 ) 9,548 Customer relationships 4.6 121,100 (75,847 ) 45,253 121,100 (55,647 ) 65,453 Non-compete covenants 3.0 1,100 (1,083 ) 17 1,100 (872 ) 228 6.1 $ 381,517 $ (193,546 ) $ 187,971 $ 377,031 $ (136,531 ) $ 240,500 |
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, 2019 2018 2017 Cost of net revenue $ 33,932 $ 35,821 $ 25,316 Research and development 48 150 551 Selling, general and administrative 23,035 31,976 28,827 $ 57,015 $ 67,947 $ 54,694 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following table sets forth activity during the years ended December 31, 2019 and 2018 related to finite-lived intangible assets: Years Ended December 31, 2019 2018 (in thousands) Beginning balance $ 240,500 $ 310,645 Other additions 86 — Transfers to developed technology from IPR&D 4,400 — Amortization (57,015 ) (67,947 ) Impairment losses — (2,198 ) Ending balance $ 187,971 $ 240,500 |
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, 2019 : Amortization (in thousands) 2020 $ 56,610 2021 55,828 2022 38,298 2023 26,075 2024 10,098 Thereafter 1,062 Total $ 187,971 |
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, 2019 2018 (in thousands) Beginning balance $ 4,400 $ 4,400 Transfers to developed technology from IPR&D (4,400 ) — Ending balance $ — $ 4,400 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Available-for-sale Securities [Table Text Block] | The composition of financial instruments is as follows: December 31, 2019 December 31, 2018 (in thousands) Assets Interest rate swap $ — $ 1,623 Liabilities Interest rate swap $ 37 $ — |
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 $ — Liabilities Interest rate swap, December 31, 2019 $ 37 $ — $ 37 $ — |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | The following table summarizes activity for the interest rate swap: Fair Value at December 31, 2019 2018 (in thousands) Interest rate swap Beginning balance $ 1,623 $ 734 Unrealized gain (loss) recognized in other comprehensive income (loss) (1,660 ) 889 Ending balance $ (37 ) $ 1,623 |
Balance Sheet Details (Tables)
Balance Sheet Details (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Cash, Cash Equivalents and Investments | Cash, cash equivalents, and restricted cash consist of the following: December 31, 2019 December 31, 2018 (in thousands) Cash and cash equivalents $ 92,708 $ 73,142 Short-term restricted cash 349 645 Long-term restricted cash 60 404 Total cash, cash equivalents and restricted cash $ 93,117 $ 74,191 |
Inventory | Inventory consists of the following: December 31, 2019 December 31, 2018 (in thousands) Work-in-process $ 14,525 $ 17,618 Finished goods 16,985 24,120 $ 31,510 $ 41,738 |
Property and Equipment | Property and equipment consist of the following: Useful Life (in Years) December 31, 2019 December 31, 2018 (in thousands) Furniture and fixtures 5 $ 2,199 $ 2,020 Machinery and equipment 3-5 35,660 34,225 Masks and production equipment 2-5 15,209 12,645 Software 3 5,956 5,675 Leasehold improvements 1-5 16,186 17,493 Construction in progress N/A 746 133 75,956 72,191 Less accumulated depreciation and amortization (59,343 ) (53,787 ) $ 16,613 $ 18,404 |
Price Protection Liability | Accrued price protection liability consists of the following activity: Years Ended December 31, 2019 2018 (in thousands) Beginning balance $ 16,454 $ 21,571 Charged as a reduction of revenue 24,449 34,288 Reversal of unclaimed rebates (42 ) (2,413 ) Payments (28,304 ) (36,992 ) Ending balance $ 12,557 $ 16,454 |
Accrued Expenses | Accrued expenses and other current liabilities consist of the following: December 31, 2019 December 31, 2018 (1) (in thousands) Accrued technology license payments $ 4,500 $ 4,500 Accrued professional fees 861 1,270 Accrued engineering and production costs 4,491 646 Accrued restructuring 294 1,946 Accrued royalty 923 980 Short-term lease liabilities 4,810 1,214 Accrued customer credits 832 1,204 Income tax liability 65 784 Customer contract liabilities 107 71 Accrued obligations to customers for price adjustments 8,382 7,558 Accrued obligations to customers for stock rotation rights 1,410 1,494 Other 4,496 6,615 $ 31,171 $ 28,282 ___________ (1) Due to the adoption of ASC 842 on January 1, 2019 with a cumulative effect adjustment to accumulated deficit, prior period amounts have not been adjusted to include short-term lease payment obligations. |
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, 2017 $ 562 $ 477 $ 1,039 Other comprehensive income (loss) before reclassifications, net of tax (1,572 ) 702 (870 ) Net current period other comprehensive income (loss) (1,572 ) 702 (870 ) Cumulative effect of adoption of new accounting principles 103 — 103 Balance at December 31, 2018 (907 ) 1,179 272 Other comprehensive income (loss) before reclassifications, net of tax 160 (1,319 ) (1,159 ) Net current period other comprehensive income (loss) 160 (1,319 ) (1,159 ) Balance at December 31, 2019 $ (747 ) $ (140 ) $ (887 ) |
Debt and Interest Rate Swap (Ta
Debt and Interest Rate Swap (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 December 31, 2018 (in thousands) Principal $ 212,000 $ 262,000 Less: Unamortized debt discount (1,328 ) (1,630 ) Unamortized debt issuance costs (3,763 ) (4,613 ) Net carrying amount of long-term debt 206,909 255,757 Less: current portion of long-term debt — — Long-term debt, non-current portion $ 206,909 $ 255,757 |
Stock-Based Compensation and Em
Stock-Based Compensation and Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [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, 2019 2018 2017 (in thousands) Cost of net revenue $ 577 $ 489 $ 332 Research and development 16,545 17,953 16,190 Selling, general and administrative 14,938 13,279 11,016 Restructuring expense — — 5,130 $ 32,060 $ 31,721 $ 32,668 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | A summary of the Company’s restricted stock unit activity is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2018 3,263 $ 20.23 Granted 1,580 23.23 Vested (1,541 ) 20.16 Canceled (378 ) 21.52 Outstanding at December 31, 2019 2,924 21.72 |
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block] | A summary of the Company’s performance-based restricted stock unit activity is as follows: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value per Share Outstanding at December 31, 2018 — $ — Granted (1) 445 22.21 Outstanding at December 31, 2019 445 22.21 ________________ (1) Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit award. |
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, 2019 2018 2017 Weighted-average grant date fair value per share $5.48 - 6.61 $5.01 - $5.37 $6.20 - $7.46 Risk-free interest rate 1.59 - 2.43% 2.09 - 2.51% 0.60 - 1.39% Dividend yield — % — % — % Expected term (in years) 0.5 0.5 0.38 - 0.50 Volatility 40.47 - 43.14% 38.82 - 46.17% 29.56 - 49.94% |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | A summary of the Company’s stock option activity 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, 2018 2,659 $ 10.27 Exercised (1,300 ) 7.28 Canceled (22 ) 18.09 Outstanding at December 31, 2019 1,337 $ 13.05 2.56 $ 11,259 Vested and expected to vest at December 31, 2019 1,329 $ 13.02 2.55 $ 11,239 Exercisable at December 31, 2019 1,094 $ 11.87 1.93 $ 10,549 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair values of stock options granted in 2018 and 2017 were estimated using the Black-Scholes option pricing model on the grant date using the following assumptions: Years Ended December 31, 2018 2017 (1) Weighted-average grant date fair value per share $ 8.14 8.77 - 21.04 Risk-free interest rate 2.76 % 1.29% - 1.99% Dividend yield — % — % Expected term (in years) 5.50 1.6 - 6.0 Volatility 44.30 % 45.39% - 50.32% |
Income Taxes Income Tax (Tables
Income Taxes Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The domestic and international components of loss before income taxes are presented as follows: Years Ended December 31, 2019 2018 2017 (in thousands) Domestic $ (61,893 ) $ 16,405 $ 42,580 Foreign 29,409 (49,257 ) (76,578 ) Loss before income taxes $ (32,484 ) $ (32,852 ) $ (33,998 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The income tax provision (benefit) consists of the following: Years Ended December 31, 2019 2018 2017 (in thousands) Current: Federal $ 1,604 $ 3,292 $ 13,470 State 16 37 26 Foreign 1,560 1,640 1,784 Total current 3,180 4,969 15,280 Deferred: Federal (13,793 ) 788 19,451 State (1,829 ) (2,799 ) (4,668 ) Foreign 1,095 (3,884 ) (3,697 ) Change in valuation allowance (1,239 ) (5,727 ) (51,177 ) Total deferred (15,766 ) (11,622 ) (40,091 ) Total income tax benefit $ (12,586 ) $ (6,653 ) $ (24,811 ) |
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, 2019 2018 2017 (in thousands) Provision (benefit) at statutory rate $ (6,821 ) $ (6,814 ) $ (11,899 ) State income taxes (net of federal benefit) 11 20 17 Research and development credits (7,815 ) (8,849 ) (8,153 ) Foreign rate differential (4,489 ) 8,640 23,666 Stock compensation (2,750 ) 74 (5,713 ) Foreign income inclusion 3,936 1,103 — Transaction costs — — 553 Provision to return 1,887 (27 ) (917 ) Uncertain tax positions 1,244 1,463 1,993 Foreign tax credits — — (5 ) Permanent and other 716 1,319 1,730 Foreign unremitted earnings (103 ) 1,960 (1,368 ) Tax Act — 185 25,205 Other tax rate changes — — 1,257 Attribute expirations 2,837 — — Valuation allowance (1,239 ) (5,727 ) (51,177 ) Total income tax benefit $ (12,586 ) $ (6,653 ) $ (24,811 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The components of the deferred income tax assets are as follows: December 31, 2019 2018 (in thousands) Deferred tax assets: Net operating loss carryforwards $ 65,477 $ 64,887 Research and development credits 80,404 75,032 Accrued expenses and other 7,768 7,965 Lease obligation 2,047 — Accrued compensation 1,441 2,504 Stock-based compensation 3,460 2,550 160,597 152,938 Less valuation allowance (77,957 ) (79,196 ) 82,640 73,742 Deferred tax liabilities: Fixed assets (246 ) (1,391 ) Leased right-of-use assets (1,483 ) — Intangible assets (13,627 ) (20,833 ) Net deferred tax assets $ 67,284 $ 51,518 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | The following table summarizes the changes to the unrecognized tax benefits during 2019 , 2018 and 2017 : (in thousands) 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 Additions based on tax positions related to the current year 1,678 Decreases based on tax positions of prior year (1,121 ) Balance as of December 31, 2019 $ 62,027 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The table below presents aggregate future minimum payments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of December 31, 2019 : Operating Leases (in thousands) 2020 $ 5,406 2021 5,217 2022 3,591 2023 1,030 Total minimum payments 15,244 Less: imputed interest (1,096 ) Less: unrealized translation loss (3 ) Total lease liabilities 14,145 Less: short-term lease liabilities (4,810 ) Lease liabilities - long-term $ 9,335 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of December 31, 2019 , future minimum rental income under non-cancelable subleases are as follows: Amount (in thousands) 2020 $ 644 2021 546 2022 488 2023 291 $ 1,969 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Payments Under Other Obligations | As of December 31, 2019 , future minimum payments under inventory purchase and other obligations are as follows: Inventory Purchase Obligations Other Obligations Total (in thousands) 2020 $ 15,093 $ 5,735 $ 20,828 2021 — 893 893 2022 — 425 425 2023 — 447 447 Total minimum payments $ 15,093 $ 7,500 $ 22,593 |
Future Minimum Payments Under Inventory Purchase Obligations | As of December 31, 2019 , future minimum payments under inventory purchase and other obligations are as follows: Inventory Purchase Obligations Other Obligations Total (in thousands) 2020 $ 15,093 $ 5,735 $ 20,828 2021 — 893 893 2022 — 425 425 2023 — 447 447 Total minimum payments $ 15,093 $ 7,500 $ 22,593 |
Significant Customer and Geog_2
Significant Customer and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Risks and Uncertainties [Abstract] | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customers comprising greater than 10% of net revenues for each of the periods presented are as follows: Years Ended December 31, 2019 2018 2017 Percentage of total net revenue Customer A (direct) 14 % 18 % 25 % Balances greater than 10% of accounts receivable, based on the Company's billings to the contract manufacturer customers, are as follows: December 31, 2019 2018 Percentage of gross accounts receivable Customer B 10 % 10 % Suppliers comprising greater than 10% of total inventory purchases are as follows: Years ended December 31, 2019 2018 2017 Vendor A 17 % 16 % 21 % Vendor B 15 % 13 % 11 % Vendor C 14 % 19 % 16 % Vendor D 13 % 15 % 15 % Vendor E * * 14 % |
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, 2019 2018 2017 Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Asia $ 265,122 84 % $ 312,877 81 % $ 372,103 89 % United States 13,984 4 % 18,060 5 % 10,829 2 % Rest of world 38,074 12 % 54,060 14 % 37,386 9 % Total $ 317,180 100 % $ 384,997 100 % $ 420,318 100 % 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, 2019 2018 2017 Percentage of total net revenue China 60 % 63 % 71 % |
Long-lived Assets by Geographic Areas [Table Text Block] | Long-lived assets, which consists of property and equipment, net, leased right-of-use assets, intangible assets, net, and goodwill, by geographic area are as follows (in thousands): As of December 31, 2019 2018(1) Amount % of total Amount % of total United States $ 385,302 85 % $ 426,321 85 % Singapore 63,556 14 % 71,945 14 % Rest of world 5,034 1 % 3,368 1 % Total $ 453,892 100 % $ 501,634 100 % _____________ (1) Amounts do not include leased right-of-use assets in the prior period due to the adoption of ASC 842 under the modified retrospective method with a cumulative effect adjustment to accumulated deficit as of January 1, 2019. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from External Customers by Products and Services | Revenue by Market The table below presents disaggregated net revenues by market (in thousands): Year Ended December 31, 2019 2018 2017 (1) Connected home $ 152,674 $ 207,336 $ 288,610 % of net revenue 48 % 54 % 69 % Infrastructure 85,369 82,388 71,779 % of net revenue 27 % 21 % 17 % Industrial and multi-market 79,137 95,273 59,929 % of net revenue 25 % 25 % 14 % Total net revenue $ 317,180 $ 384,997 $ 420,318 ______________ (1) Due to the adoption of ASC 606 on January 1, 2018 using the modified retrospective method, amounts prior to 2018 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, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | Year Ended December 31, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter (in thousands, except per share amounts) Net revenue $ 84,635 $ 82,507 $ 80,020 $ 70,018 Gross profit $ 45,077 $ 44,080 $ 41,904 $ 36,624 Net loss $ (4,851 ) $ (2,229 ) $ (4,714 ) $ (8,104 ) Net loss per share: Basic $ (0.07 ) $ (0.03 ) $ (0.07 ) $ (0.11 ) Diluted $ (0.07 ) $ (0.03 ) $ (0.07 ) $ (0.11 ) 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 |
Organization and Summary of S_3
Organization and Summary of Significant Accounting Policies (Details Textuals) $ in Thousands | Jan. 01, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
New Accounting Pronouncement, Early Adoption [Line Items] | |||||
Number of Operating Segments | 1 | ||||
Standard Product Warranty Accrual, Current | $ 600 | $ 500 | |||
Revenue, Performance Obligation, Payment Term | 30 days | ||||
Impairment losses | $ 0 | 2,198 | $ 2,000 | ||
Revenue, Performance Obligation, Delivery Term | 1 year | ||||
Contract with Customer, Right of Return Term | 6 months | ||||
Assets [Member] | |||||
New Accounting Pronouncement, Early Adoption [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 24,800 | ||||
Liability [Member] | |||||
New Accounting Pronouncement, Early Adoption [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 25,100 | ||||
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||||
New Accounting Pronouncement, Early Adoption [Line Items] | |||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | $ 0 | $ 46 | $ 73 | $ 87 | |
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 |
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, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator: | |||||||||||
Net loss | $ (8,104) | $ (4,714) | $ (2,229) | $ (4,851) | $ 311 | $ (13,935) | $ (14,422) | $ 1,847 | $ (19,898) | $ (26,199) | $ (9,187) |
Denominator: | |||||||||||
Weighted Average Number of Shares Outstanding, Basic | 71,005 | 68,490 | 66,252 | ||||||||
Dilutive common stock equivalents (shares) | 0 | 0 | 0 | ||||||||
Weighted average common shares outstanding-diluted (shares) | 71,005 | 68,490 | 66,252 | ||||||||
Net loss per share: | |||||||||||
Basic (usd per share) | $ (0.11) | $ (0.07) | $ (0.03) | $ (0.07) | $ 0 | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.28) | $ (0.38) | $ (0.14) |
Diluted (usd per share) | $ (0.11) | $ (0.07) | $ (0.03) | $ (0.07) | $ 0 | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.28) | $ (0.38) | $ (0.14) |
Net Loss Per Share - Additional
Net Loss Per Share - Additional Information (Detail) - shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Common stock equivalents excluded from the calculation of net loss per share (shares) | 2.5 | 3.7 | 4.5 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | May 12, 2017 | Apr. 04, 2017 | Dec. 31, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | ||||
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 | |||
Goodwill, Purchase Accounting Adjustments | $ 0 | $ 338 | ||
Cash [Member] | Exar Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | 688,100 | |||
Cash [Member] | G.hn business of Marvell [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | $ 21,000 | |||
Cash in lieu of equity [Member] | Exar Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | $ 12,700 |
Restructuring Activity Restru_2
Restructuring Activity Restructuring Activity (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 2,636 | $ 3,838 | $ 9,524 |
One-time Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,150 | 2,094 | 8,353 |
Facility Closing [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,301 | 1,608 | 1,025 |
Other Restructuring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 185 | $ 136 | $ 146 |
Restructuring Activity Restru_3
Restructuring Activity Restructuring Activities (Details Textuals) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring charges | $ 2,636 | $ 3,838 | $ 9,524 |
Stock Based Compensation [Member] | |||
Restructuring charges | $ 5,100 |
Restructuring Activity Restru_4
Restructuring Activity Restructuring Activity (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | $ (1,946) | $ (3,039) | |
Restructuring charges | 2,636 | 3,838 | $ 9,524 |
Restructuring Reserve, Accrual Adjustment | (299) | ||
Payments for Restructuring | (3,442) | (4,004) | |
Restructuring Reserve, Settled without Cash | (4) | (927) | |
Restructuring Reserve | (837) | (1,946) | (3,039) |
One-time Termination Benefits [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (409) | (239) | |
Restructuring charges | 1,150 | 2,094 | 8,353 |
Restructuring Reserve, Accrual Adjustment | 0 | ||
Payments for Restructuring | (1,559) | (1,924) | |
Restructuring Reserve, Settled without Cash | 0 | 0 | |
Restructuring Reserve | 0 | (409) | (239) |
Facility Closing [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (1,490) | ||
Restructuring charges | 1,301 | 1,608 | 1,025 |
Restructuring Reserve | (818) | (1,490) | |
Lease Related Impairment [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (2,693) | ||
Restructuring charges | 1,301 | 1,608 | |
Restructuring Reserve, Accrual Adjustment | (299) | ||
Payments for Restructuring | (1,720) | (1,884) | |
Restructuring Reserve, Settled without Cash | (46) | (927) | |
Restructuring Reserve | (2,693) | ||
Other Restructuring [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (47) | (107) | |
Restructuring charges | 185 | 136 | 146 |
Restructuring Reserve, Accrual Adjustment | 0 | ||
Payments for Restructuring | (163) | (196) | |
Restructuring Reserve, Settled without Cash | (50) | 0 | |
Restructuring Reserve | (19) | $ (47) | $ (107) |
Restructuring - Long term [Domain] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (543) | ||
Restructuring - Long term [Domain] | One-time Termination Benefits [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | 0 | ||
Restructuring - Long term [Domain] | Facility Closing [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (543) | ||
Restructuring - Long term [Domain] | Other Restructuring [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | 0 | ||
Restructuring - Short term [Domain] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (294) | ||
Restructuring - Short term [Domain] | One-time Termination Benefits [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | 0 | ||
Restructuring - Short term [Domain] | Facility Closing [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | (275) | ||
Restructuring - Short term [Domain] | Other Restructuring [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve | $ (19) |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | |||
Goodwill | $ 238,330,000 | $ 238,330,000 | $ 237,992,000 |
Goodwill, Purchase Accounting Adjustments | 0 | $ 338,000 | |
Goodwill impairment loss | $ 0 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Useful Life (in Years) | 6 years 1 month 6 days | ||
Gross Carrying Amount | $ 381,517 | $ 377,031 | |
Accumulated Amortization | (193,546) | (136,531) | |
Net Carrying Amount | 187,971 | 240,500 | $ 310,645 |
Amortization | 57,015 | 67,947 | 54,694 |
Cost of Sales [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | 33,932 | 35,821 | 25,316 |
Research and Development Expense [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | 48 | 150 | 551 |
Selling, general and administrative [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | $ 23,035 | 31,976 | $ 28,827 |
Licensed Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Useful Life (in Years) | 3 years 8 months 12 days | ||
Gross Carrying Amount | $ 2,156 | 2,070 | |
Accumulated Amortization | (1,583) | (1,130) | |
Net Carrying Amount | $ 573 | 940 | |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Useful Life (in Years) | 6 years 10 months 24 days | ||
Gross Carrying Amount | $ 243,361 | 238,961 | |
Accumulated Amortization | (108,522) | (74,630) | |
Net Carrying Amount | $ 134,839 | 164,331 | |
Trademarks and Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Useful Life (in Years) | 6 years 1 month 6 days | ||
Gross Carrying Amount | $ 13,800 | 13,800 | |
Accumulated Amortization | (6,511) | (4,252) | |
Net Carrying Amount | $ 7,289 | 9,548 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Useful Life (in Years) | 4 years 7 months 6 days | ||
Gross Carrying Amount | $ 121,100 | 121,100 | |
Accumulated Amortization | (75,847) | (55,647) | |
Net Carrying Amount | $ 45,253 | 65,453 | |
Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Useful Life (in Years) | 3 years | ||
Gross Carrying Amount | $ 1,100 | 1,100 | |
Accumulated Amortization | (1,083) | (872) | |
Net Carrying Amount | $ 17 | $ 228 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets Goodwill and Intangible Assets (Details 2) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-lived Intangible Assets [Roll Forward] | |||
Beginning balance | $ 240,500,000 | $ 310,645,000 | |
Other additions | 86,000 | 0 | |
Transfers to developed technology from IPR&D | 4,400,000 | 0 | |
Amortization | 57,015,000 | 67,947,000 | $ 54,694,000 |
Impairment losses | 0 | 2,198,000 | 0 |
Ending balance | $ 187,971,000 | $ 240,500,000 | $ 310,645,000 |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 56,610 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 55,828 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 38,298 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 26,075 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 10,098 | ||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 1,062 | ||
Net Carrying Amount | $ 187,971 | $ 240,500 | $ 310,645 |
Goodwill and Intangible Asset_7
Goodwill and Intangible Assets Goodwill and Intangibles Other (Details 4) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Indefinite-lived Intangible Assets [Roll Forward] | |||
Beginning balance | $ 4,400,000 | $ 4,400,000 | |
Transfers to developed technology from IPR&D | 4,400,000 | 0 | |
Ending balance | 0 | 4,400,000 | $ 4,400,000 |
Impairment losses | 0 | 2,198,000 | $ 2,000,000 |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 0 | $ 0 |
Financial Instruments Financial
Financial Instruments Financial Instruments (Details 1) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Nov. 03, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Asset | $ 1,623 | $ 734 | ||
Derivative, Fixed Interest Rate | 4.25% | 1.74685% |
Financial Instruments Financi_2
Financial Instruments Financial Instruments (Details 2) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability, Current | $ 37,000 | ||
Derivative Asset | $ 1,623,000 | $ 734,000 | |
Fair Value, 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 Liability, Current | 0 | ||
Derivative Asset | 0 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability, Current | 37,000 | 0 | |
Derivative Asset | 1,623,000 | ||
Fair Value, 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 Liability, Current | 0 | ||
Derivative Asset | 0 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | $ 1,623,000 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability, Current | 37,000 | ||
Derivative Asset | $ 0 |
Financial Instruments Financi_3
Financial Instruments Financial Instruments - Additional Information (Details 4) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | $ 1,623,000 | $ 734,000 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) | $ (1,660,000) | 889,000 | $ 700,000 |
Derivative Liability, Current | (37,000) | ||
Fair Value, Liabilities, Transfers between Levels | $ 0 | $ 0 |
Balance Sheet Details - Cash an
Balance Sheet Details - Cash and Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Balance Sheet Related Disclosures [Abstract] | ||||
Money Market Funds, at Carrying Value | $ 20,400 | $ 0 | ||
Cash and cash equivalents | 92,708 | 73,142 | ||
Short-term restricted cash | 349 | 645 | ||
Long-term restricted cash | 60 | 404 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 93,117 | 74,191 | $ 74,412 | $ 82,896 |
Restricted Cash and Cash Equivalents | $ 400 | $ 1,000 |
Balance Sheet Details - Invento
Balance Sheet Details - Inventory (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Work-in-process | $ 14,525 | $ 17,618 |
Finished goods | 16,985 | 24,120 |
Inventory Total | $ 31,510 | $ 41,738 |
Balance Sheet Details - Propert
Balance Sheet Details - Property and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2017 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 12,000 | ||
Property and equipment, Gross | $ 75,956 | $ 72,191 | |
Less accumulated depreciation and amortization | (59,343) | (53,787) | |
Property and equipment, net | $ 16,613 | 18,404 | |
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 | $ 2,199 | 2,020 | |
Machinery and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, Gross | $ 35,660 | 34,225 | |
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 and equipment, Gross | $ 15,209 | 12,645 | |
Masks and production equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Masks and production equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Software and Software Development Costs [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, Gross | $ 5,956 | 5,675 | |
Leasehold improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, Gross | $ 16,186 | 17,493 | |
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 | $ 746 | $ 133 |
Balance Sheet Details - Intangi
Balance Sheet Details - Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 6 years 1 month 6 days | ||
Gross Carrying Amount | $ 381,517 | $ 377,031 | |
Less accumulated amortization | (193,546) | (136,531) | |
Intangible assets, net | 187,971 | 240,500 | $ 310,645 |
Intangible Assets, Net (Excluding Goodwill) | 187,971 | 244,900 | |
Amortization | $ 57,015 | 67,947 | $ 54,694 |
Licensed Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 3 years 8 months 12 days | ||
Gross Carrying Amount | $ 2,156 | 2,070 | |
Less accumulated amortization | (1,583) | (1,130) | |
Intangible assets, net | $ 573 | 940 | |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 6 years 10 months 24 days | ||
Gross Carrying Amount | $ 243,361 | 238,961 | |
Less accumulated amortization | (108,522) | (74,630) | |
Intangible assets, net | $ 134,839 | 164,331 | |
Trademarks and Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 6 years 1 month 6 days | ||
Gross Carrying Amount | $ 13,800 | 13,800 | |
Less accumulated amortization | (6,511) | (4,252) | |
Intangible assets, net | $ 7,289 | 9,548 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted average amortization period in years | 4 years 7 months 6 days | ||
Gross Carrying Amount | $ 121,100 | 121,100 | |
Less accumulated amortization | (75,847) | (55,647) | |
Intangible assets, net | $ 45,253 | $ 65,453 |
Balance Sheet Details- Accrued
Balance Sheet Details- Accrued Price Protection Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accrued Price Protection Rebate Activity [Roll Forward] | ||
Begining Balance | $ 16,454 | $ 21,571 |
Charged as a reduction of revenue | 24,449 | 34,288 |
Reversal of unclaimed rebates | (42) | (2,413) |
Payments | (28,304) | (36,992) |
Ending Balance | $ 12,557 | $ 16,454 |
Balance Sheet Details - Accrued
Balance Sheet Details - Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Capitalized Contract Cost [Line Items] | ||
Accrued technology license payments | $ 4,500 | $ 4,500 |
Accrued professional fees | 861 | 1,270 |
Accrued engineering and production costs | 4,491 | 646 |
Accrued restructuring | 294 | 1,946 |
Accrued royalty | 923 | 980 |
Accrued customer credits | 832 | 1,204 |
Taxes Payable | 65 | 784 |
Contract with Customer, Liability | 107 | 71 |
Other | 4,496 | 6,615 |
Total | 31,171 | 28,282 |
Operating Lease, Liability, Current | 4,810 | 1,214 |
Reduction in Transaction Price [Member] | ||
Capitalized Contract Cost [Line Items] | ||
Customer Refund Liability, Current | 8,382 | 7,558 |
Sales Returns and Allowances [Member] | ||
Capitalized Contract Cost [Line Items] | ||
Accrued obligations to customers for stock rotation rights | $ 1,410 | $ 1,494 |
Balance Sheet Details Balance S
Balance Sheet Details Balance Sheet Details - AOCI (Details) - USD ($) $ in Thousands | 12 Months Ended | 26 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, beginning | $ 272 | $ 1,039 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 160 | (1,572) | $ 2,122 | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (1,319) | 702 | 477 | $ (40) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (1,159) | (870) | 2,599 | |
Cumulative adjustment for adoption of accounting principle, net | (268) | 1,634 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, ending | (887) | 272 | 1,039 | (887) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, beginning | (907) | 562 | ||
Cumulative adjustment for adoption of accounting principle, net | 103 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, ending | (747) | (907) | 562 | (747) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, beginning | 1,179 | 477 | ||
Cumulative adjustment for adoption of accounting principle, net | 0 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax, ending | (140) | 1,179 | $ 477 | $ (140) |
AOCI Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cumulative adjustment for adoption of accounting principle, net | $ 0 | $ 103 |
Debt and Interest Rate Swap (De
Debt and Interest Rate Swap (Details) - USD ($) $ in Thousands | May 12, 2024 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2019 | Nov. 03, 2017 | May 12, 2017 |
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 425,000 | |||||||
Long-term Debt, Maturities, Repayments of Principal after Year Five | $ 212,000 | $ 262,000 | $ 212,000 | $ 212,000 | ||||
Derivative, Fixed Interest Rate | 4.25% | 4.25% | 4.25% | 1.74685% | ||||
Derivative Liability, Current | $ (37) | $ (37) | $ (37) | |||||
Derivative Asset | 1,623 | $ 734 | ||||||
Document Period End Date | Dec. 31, 2019 | |||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) | $ (1,660) | $ 889 | 700 | |||||
Incremental Loans | $ 160,000 | |||||||
Debt Instrument, Payment Terms | 0.25% | 0.25% | 0.25% | |||||
Debt Instrument, Term | 7 years | |||||||
Debt Instrument, Call Feature | 1.0% soft call premium | |||||||
Repayments of Debt | $ 213,000 | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.90% | 4.60% | 4.90% | 4.90% | 4.60% | |||
Long-term Debt, Fair Value | $ 214,600 | $ 268,100 | $ 214,600 | $ 214,600 | $ 398,500 | |||
Debt Issuance Costs, Gross | 6,000 | |||||||
Amortization of Debt Discount (Premium) | 300 | 300 | 200 | |||||
Amortization of Debt Issuance Costs | 900 | 800 | 600 | |||||
Debt Instrument, Unamortized Discount | (2,100) | |||||||
Long-term debt | 206,909 | 255,757 | 206,909 | 206,909 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (1,319) | 702 | $ 477 | (40) | ||||
Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate Terms | base rate | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||||
Fed Funds Effective Rate Overnight Index 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 | $ 212,000 | 262,000 | 212,000 | 212,000 | $ 425,000 | |||
Debt Instrument, Unamortized Discount | (1,328) | (1,630) | (1,328) | (1,328) | ||||
Debt Issuance Costs, Net | (3,763) | (4,613) | (3,763) | (3,763) | ||||
Long-term Debt | 206,909 | 255,757 | 206,909 | 206,909 | ||||
Long-term Debt, Current Maturities | 0 | 0 | 0 | 0 | ||||
Long-term debt | $ 206,909 | $ 255,757 | $ 206,909 | $ 206,909 | ||||
Forecast [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Frequency of Periodic Payment | quarterly installments |
Stock-Based Compensation and _2
Stock-Based Compensation and Employee Benefit Plans - Expense by Type (Detail) - USD ($) $ in Thousands | Mar. 29, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 22, 2019 | Feb. 28, 2018 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Treasury Stock, Shares, Retired | 65,445,853 | |||||
Shares Issued upon Settlement of Executive Bonus Plan | 300,000 | 300,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 3 months 18 days | |||||
Common stock, shares authorized (shares) | 550,000,000 | 550,000,000 | ||||
Proceeds from Stock Options Exercised | $ 4,500 | $ 700 | $ 7,900 | |||
Stock based compensation | $ 32,060 | $ 31,721 | 32,668 | |||
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 | ||||
Cost of Sales [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Stock based compensation | $ 577 | $ 489 | 332 | |||
Research and Development Expense [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Stock based compensation | 16,545 | 17,953 | 16,190 | |||
Selling, general and administrative [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Stock based compensation | 14,938 | 13,279 | 11,016 | |||
Restructuring Charges [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Stock based compensation | $ 0 | $ 0 | $ 5,130 | |||
Performance Shares [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 7 months 6 days | |||||
Prior [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Common stock, shares authorized (shares) | 1,575,000,000 | |||||
Subsequent [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Common stock, shares authorized (shares) | 1,509,554,147 | |||||
Common Class A [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Treasury Stock, Shares, Retired | 58,876,053 | |||||
Common stock, shares authorized (shares) | 441,123,947 | |||||
Common Class B [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Treasury Stock, Shares, Retired | 6,569,800 | |||||
Common stock, shares authorized (shares) | 493,430,200 | |||||
Common Stock [Member] | ||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||||
Common stock, shares authorized (shares) | 550,000,000 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 22, 2019 | Feb. 28, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting Percentage Relative To net sales | 60.00% | ||||
Proceeds from Stock Options Exercised | $ 4.5 | $ 0.7 | $ 7.9 | ||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 20.7 | $ 7.8 | $ 11.9 | ||
Shares Issued upon Settlement of Executive Bonus Plan | 300,000 | 300,000 | |||
Vesting Percentage Relative To earnings per share | 40.00% | ||||
Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 3.6 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 445,000 | 0 | |||
Weighted-average grant date fair value per share | $ 22.21 | $ 0 | |||
RSUs granted in period (shares) | 445,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 22.21 | ||||
Restricted Stock Unit and Restricted Stock Award [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 48.6 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 2,924,000 | 3,263,000 | |||
Weighted-average grant date fair value per share | $ 21.72 | $ 20.23 | |||
RSUs granted in period (shares) | 1,580,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 23.23 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (1,541,000) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Intrinsic Value, Amount Per Share | $ 20.16 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (378,000) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Intrinsic Value | $ 21.52 | ||||
Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Risk-free interest rate | 0.00% | 2.76% | |||
Dividend yield | 0.00% | 0.00% | |||
Expected life (in years) | 0 years | 5 years 6 months | |||
Volatility | 44.30% | ||||
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 | 3,000 | ||||
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 | 13,754,656 | ||||
Share-based Payment Arrangement, Tranche Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Performance Based Compensation, Shares Awarded as a Percentage of Grants, Peer Group Based | 250.00% | ||||
Share-based Payment Arrangement, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Performance Based Compensation, Shares Awarded as a Percentage of Grants, Peer Group Based | 30.00% | ||||
Share-based Payment Arrangement, Tranche Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Performance Based Compensation, Shares Awarded as a Percentage of Grants, Peer Group Based | 100.00% |
Stock-Based Compensation and _4
Stock-Based Compensation and Employee Benefit Plans - ESPP (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
ESPP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 248,067 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $ 16.57 | ||
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 | $ 5.48 | ||
Risk-free interest rate | 1.59% | ||
Volatility | 40.47% | ||
Maximum [Member] | Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value per share | $ 6.61 | ||
Risk-free interest rate | 2.43% | ||
Volatility | 43.14% |
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, 2019 | 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, Options, Exercises in Period, Intrinsic Value | $ 22,200 | $ 8,100 | $ 16,300 |
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 3 months 18 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 | 0.00% | 2.76% | |
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price | $ 0 | $ 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 | 1,337 | 2,659 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (1,300) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | (22) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |||
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price | $ 13.05 | $ 10.27 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | 7.28 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ 18.09 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Share-based Payment Arrangement, Option, Exercise Price Range, Shares Exercisable | 1,094 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 13.02 | ||
Share-based Payment Arrangement, Option, Exercise Price Range, Exercisable, Weighted Average Exercise Price | $ 11.87 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years 6 months 21 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 6 months 18 days | ||
Share-based Payment Arrangement, Option, Exercise Price Range, Exercisable, Weighted Average Remaining Contractual Term | 1 year 11 months 4 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 11,259 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 1,329 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 11,239 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 10,549 | ||
Expected life (in years) | 0 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 | 1.59% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Volatility | 40.47% | ||
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 | 0.00% | 45.39% | |
Maximum [Member] | Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.43% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Volatility | 43.14% | ||
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] | |||
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 | 0.00% | 50.32% | |
Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share Based Compensation Arrangement By Share Based Payment Award Expiration Period Minimum | 7 years |
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, 2019 | Dec. 31, 2018 | |
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 | 2,924 | 3,263 |
RSUs granted in period (shares) | 1,580 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (1,541) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (378) | |
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 | $ 23.23 |
Stock-Based Compensation Stoc_2
Stock-Based Compensation Stock Reserved for Future Issuance (Details) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Equity Incentive Plan [Member] | ||
Class of Stock [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 13,754,656 | |
ESPP [Member] | ||
Class of Stock [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,752,186 | |
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 | 2,924,000 | 3,263,000 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 22, 2019 | Feb. 28, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 20,700 | $ 7,800 | $ 11,900 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 22,200 | $ 8,100 | 16,300 | |||
Common Stock, Shares, Outstanding | 71,931,000 | 69,551,000 | ||||
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 | ||||
Shares Granted or Issued, Share-based Payment Arrangement [Abstract] | ||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 2,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 3 months 18 days | |||||
Stock based compensation expense | $ 32,060 | $ 31,721 | $ 32,668 | |||
Shares Issued upon Settlement of Executive Bonus Plan | 300,000 | 300,000 | ||||
Accrued Bonuses | $ 3,500 | |||||
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 | |||||
Common Class B [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] | ||||||
Shares Granted or Issued, Share-based Payment Arrangement [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] | ||||||
Shares Granted or Issued, Share-based Payment Arrangement [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] | ||||||
Shares Granted or Issued, Share-based Payment Arrangement [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 2 days | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 48,600 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 23.23 | |||||
RSUs granted in period (shares) | 1,580,000 | |||||
Stock Option [Member] | ||||||
Shares Granted or Issued, Share-based Payment Arrangement [Abstract] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 6 months 18 days |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Income Before Income Tax Domestic And Foreign [Line Items] | |||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ (61,893) | $ 16,405 | $ 42,580 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 29,409 | (49,257) | (76,578) |
Loss before income taxes | $ (32,484) | $ (32,852) | $ (33,998) |
Income Taxes Components of Inco
Income Taxes Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ 1,604 | $ 3,292 | $ 13,470 |
Current State and Local Tax Expense (Benefit) | 16 | 37 | 26 |
Current Foreign Tax Expense (Benefit) | 1,560 | 1,640 | 1,784 |
Current Income Tax Expense (Benefit) | 3,180 | 4,969 | 15,280 |
Deferred Federal Income Tax Expense (Benefit) | (13,793) | 788 | 19,451 |
Deferred State and Local Income Tax Expense (Benefit) | (1,829) | (2,799) | (4,668) |
Deferred Foreign Income Tax Expense (Benefit) | 1,095 | (3,884) | (3,697) |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (1,239) | (5,727) | (51,177) |
Deferred Income Taxes Expense Benefit | (15,766) | (11,622) | (40,091) |
Income tax benefit | $ (12,586) | $ (6,653) | $ (24,811) |
Income Taxes Income Tax Expense
Income Taxes Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ (6,821) | $ (6,814) | $ (11,899) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | 11 | 20 | 17 |
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | (7,815) | (8,849) | (8,153) |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | (4,489) | 8,640 | 23,666 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount | (2,750) | 74 | (5,713) |
Income Tax Reconciliation Foreign Dividends | 3,936 | 1,103 | 0 |
Income tax impact to provision due to transaction costs | 0 | 0 | 553 |
Tax Adjustments, Settlements, and Unusual Provisions | 1,887 | (27) | (917) |
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount | 1,244 | 1,463 | 1,993 |
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount | 0 | 0 | (5) |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | 716 | 1,319 | 1,730 |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | (103) | 1,960 | (1,368) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 0 | 185 | 25,205 |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | 0 | 0 | 1,257 |
Attribute expirations | (2,837) | 0 | 0 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (1,239) | (5,727) | (51,177) |
Provision (benefit) for income taxes | $ (12,586) | $ (6,653) | $ (24,811) |
Income Taxes Components of Defe
Income Taxes Components of Deferred Income Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Valuation Allowance [Line Items] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 65,477 | $ 64,887 |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 80,404 | 75,032 |
Deferred Tax Assets, Other | 7,768 | 7,965 |
Deferred Tax Asset, Lease obligation | 2,047 | 0 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 1,441 | 2,504 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 3,460 | 2,550 |
Deferred Tax Assets, Gross | 160,597 | 152,938 |
Deferred Tax Assets, Valuation Allowance | (77,957) | (79,196) |
Deferred Tax Assets, Net of Valuation Allowance | 82,640 | 73,742 |
Deferred Tax Liabilities, Other Finite-Lived Assets | (246) | (1,391) |
Deferred Tax Liability, Leased right-of-use asset | (1,483) | 0 |
Deferred Tax Liabilities, Intangible Assets | (13,627) | (20,833) |
Deferred Tax Assets, Net | 67,284 | $ 51,518 |
Foreign Tax Authority [Member] | ||
Valuation Allowance [Line Items] | ||
Deferred Tax Assets, Other Tax Carryforwards | $ 24,500 |
Income Taxes Unrecognized tax e
Income Taxes Unrecognized tax expense (benefit) roll forward (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Unrecognized Tax Benefits | $ 62,027 | $ 61,470 | $ 63,086 | $ 23,417 |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 1,678 | 3,080 | 3,037 | |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | 1,121 | $ (4,696) | (458) | |
Unrecognized Tax Benefits, Increase Resulting from Acquisition | $ 37,090 | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 52,700 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Taxes, Provisional Items [Line Items] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 1,239 | $ 5,727 | $ 51,177 |
Domestic Tax Authority [Member] | |||
Income Taxes, Provisional Items [Line Items] | |||
Federal Alternative Minimum Tax Credit Carryforward | $ 300 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 11,300 | $ 51,200 |
Income Taxes Income Taxes - Add
Income Taxes Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Tax Credit Carryforward [Line Items] | |||
Income Tax Examination, Penalties and Interest Accrued | $ 900 | $ 1,100 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,239 | 5,727 | $ 51,177 |
Domestic Tax Authority [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | 269,300 | ||
Tax Credit Carryforward, Amount | 41,800 | ||
Federal Alternative Minimum Tax Credit Carryforward | 300 | ||
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 | 86,400 | ||
Tax Credit Carryforward, Amount | 86,300 | ||
Foreign Tax Authority [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | 11,700 | ||
Tax Credit Carryforward, Amount | 5,700 | ||
Deferred Tax Assets, Other Tax Carryforwards | $ 24,500 |
Leases (Details)
Leases (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lessee, Lease, Description [Line Items] | |||
Net gain on extinguishment of lease liabilities | $ (10,100,000) | ||
Operating Leases, Future Sublease Income, Remainder of Fiscal Year | 644,000 | ||
Operating Leases, Future Sublease Income, Due in Two Years | 546,000 | ||
Operating Leases, Future Sublease Income, Due in Three Years | 488,000 | ||
Operating Leases, Future Sublease Income, Due in Four Years | 291,000 | ||
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year | 5,406,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 5,217,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 3,591,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 1,030,000 | ||
Operating Leases, Future Minimum Payments Due | 15,244,000 | ||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 1,096,000 | ||
Unrealized gain/loss on translation to reporting currency | (3,000) | ||
Operating Lease, Liability | 14,145,000 | ||
Operating Lease, Liability, Current | $ 4,810,000 | $ 1,214,000 | |
Lessee, Operating Lease, Renewal Term | 5 years | ||
Operating Lease, Weighted Average Discount Rate, Percent | 5.00% | ||
Operating Lease, Weighted Average Remaining Lease Term | 2 years 10 months 24 days | ||
Operating Lease, Cost | $ 3,100,000 | 4,500,000 | $ 4,200,000 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 500,000 | ||
Operating Leases, Rent Expense, Sublease Rentals | 1,200,000 | 2,400,000 | $ 2,100,000 |
Operating Lease, Liability, Noncurrent | 9,335,000 | $ 4,097,000 | |
Operating Leases, Future Sublease Income Due | $ 1,969,000 | ||
Minimum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 3 years | ||
Maximum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 5 years |
Leases Details Textuals (Detail
Leases Details Textuals (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lessee, Lease, Description [Line Items] | |||
Impairment of leased right-of-use assets | $ 9,240 | $ 0 | $ 0 |
Income statement impact, lease termination | (1,200) | ||
Gain on extinguishment of lease liabilities | 10,437 | 0 | 0 |
Net gain on extinguishment of lease liabilities | (10,100) | ||
Other related liabilities, lease termination | 300 | ||
Impairment of Leasehold | $ 1,442 | $ 735 | $ 0 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies-Additional Details (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Inventories [Member] | |
Inventory Purchase Obligations | |
2020 | $ 15,093 |
2021 | 0 |
2022 | 0 |
2023 | 0 |
Total minimum payments: | 15,093 |
Other Commitments [Domain] | |
Other Obligations | |
2020 | 5,735 |
2021 | 893 |
2022 | 425 |
2023 | 447 |
Total minimum payments: | 7,500 |
Total Commitments [Member] | |
Total Commitments | |
2020 | 20,828 |
2021 | 893 |
2022 | 425 |
2023 | 447 |
Total Future Minimum Payments, Due | $ 22,593 |
Significant Customer and Geog_3
Significant Customer and Geographic Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Concentration Risk [Line Items] | |||||||||||
Long lived assets | $ 453,892 | $ 501,634 | |||||||||
Net revenue | $ 70,018 | $ 80,020 | $ 82,507 | $ 84,635 | $ 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | 317,180 | 384,997 | $ 420,318 |
Asia [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Net revenue | 372,103 | ||||||||||
UNITED STATES | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Long lived assets | 385,302 | 426,321 | |||||||||
Net revenue | 10,829 | ||||||||||
Rest of World [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Long lived assets | 5,034 | 3,368 | |||||||||
Net revenue | $ 37,386 | ||||||||||
SINGAPORE | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Long lived assets | $ 63,556 | $ 71,945 | |||||||||
Long lived assets [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 100.00% | 100.00% | |||||||||
Long lived assets [Member] | UNITED STATES | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 85.00% | 85.00% | |||||||||
Long lived assets [Member] | Rest of World [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 1.00% | 1.00% | |||||||||
Long lived assets [Member] | SINGAPORE | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 14.00% | 14.00% | |||||||||
Revenue Benchmark [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Net revenue | $ 317,180 | $ 384,997 | |||||||||
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | ||||||||
Revenue Benchmark [Member] | Asia [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Net revenue | $ 265,122 | $ 312,877 | |||||||||
Concentration Risk, Percentage | 84.00% | 81.00% | 89.00% | ||||||||
Revenue Benchmark [Member] | UNITED STATES | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Net revenue | $ 13,984 | $ 18,060 | |||||||||
Concentration Risk, Percentage | 4.00% | 5.00% | 2.00% | ||||||||
Revenue Benchmark [Member] | Rest of World [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Net revenue | $ 38,074 | $ 54,060 | |||||||||
Concentration Risk, Percentage | 12.00% | 14.00% | 9.00% | ||||||||
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | China [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 60.00% | 63.00% | 71.00% | ||||||||
Customer A [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 14.00% | 25.00% | |||||||||
Customer B (Direct) [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 18.00% | ||||||||||
Customer A [Member] | Accounts Receivable [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 10.00% | 10.00% | |||||||||
Vendor B [Member] | Supplier Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 15.00% | 13.00% | 11.00% | ||||||||
Vendor C [Member] | Supplier Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 14.00% | 19.00% | 16.00% | ||||||||
Vendor D [Member] | Supplier Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 13.00% | 15.00% | 15.00% | ||||||||
Vendor A [Member] | Supplier Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 17.00% | 16.00% | 21.00% | ||||||||
Vendor E [Member] | Supplier Concentration Risk [Member] | |||||||||||
Concentration Risk [Line Items] | |||||||||||
Concentration Risk, Percentage | 14.00% |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | $ 70,018 | $ 80,020 | $ 82,507 | $ 84,635 | $ 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | $ 317,180 | $ 384,997 | $ 420,318 |
Contract with Customer, Right to Recover Product | 300 | 300 | 300 | 300 | |||||||
Contract with Customer, Liability | 107 | 71 | 107 | 71 | |||||||
Accrued price protection liability | 12,557 | 16,454 | 12,557 | 16,454 | 21,571 | ||||||
Accounts Receivable [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Asset Impairment Charges | 0 | 0 | |||||||||
Reduction in Transaction Price [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Customer Refund Liability, Current | 8,382 | 7,558 | 8,382 | 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 | $ 1,410 | $ 1,494 | 1,410 | 1,494 | |||||||
Connected Home [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | 152,674 | 207,336 | 288,610 | ||||||||
Infrastructure [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | 85,369 | 82,388 | 71,779 | ||||||||
Industrial and multi-market [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net revenue | $ 79,137 | $ 95,273 | $ 59,929 | ||||||||
Revenue Benchmark [Member] | Connected Home [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 48.00% | 54.00% | 69.00% | ||||||||
Revenue Benchmark [Member] | Infrastructure [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 27.00% | 21.00% | 17.00% | ||||||||
Revenue Benchmark [Member] | Industrial and multi-market [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 25.00% | 25.00% | 14.00% | ||||||||
Revenue from Distributors [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Concentration Risk, Percentage | 52.00% | 42.00% | 34.00% |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net revenue | $ 70,018 | $ 80,020 | $ 82,507 | $ 84,635 | $ 87,627 | $ 85,010 | $ 101,533 | $ 110,827 | $ 317,180 | $ 384,997 | $ 420,318 |
Gross profit | 36,624 | 41,904 | 44,080 | 45,077 | 45,900 | 43,876 | 56,330 | 62,668 | 167,685 | 208,774 | 207,963 |
Net loss | $ (8,104) | $ (4,714) | $ (2,229) | $ (4,851) | $ 311 | $ (13,935) | $ (14,422) | $ 1,847 | $ (19,898) | $ (26,199) | $ (9,187) |
Earnings Per Share, Basic | $ (0.11) | $ (0.07) | $ (0.03) | $ (0.07) | $ 0 | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.28) | $ (0.38) | $ (0.14) |
Earnings Per Share, Diluted | $ (0.11) | $ (0.07) | $ (0.03) | $ (0.07) | $ 0 | $ (0.20) | $ (0.21) | $ 0.03 | $ (0.28) | $ (0.38) | $ (0.14) |
Item 15 (Details)
Item 15 (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Allowances for Doubtful Accounts | $ 0 | $ 46 | $ 73 | $ 87 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense | 0 | 0 | 133 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account | 0 | 0 | 27 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (46) | (27) | (174) | |
SEC Schedule, 12-09, Reserve, Warranty [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Allowances for Doubtful Accounts | 553 | 519 | 941 | 860 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense | 74 | (414) | 492 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account | 0 | 0 | 122 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (40) | (8) | (533) | |
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 | 77,957 | 79,196 | 84,560 | $ 100,284 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense | (1,239) | (5,761) | (50,881) | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account | 0 | 397 | 35,157 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | $ 0 | $ 0 | $ 0 |