| Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies Basis of Presentation Our fiscal years are based on a 52 53 December. December 29, 2018, March 30, 2019, ( first 2019” first three 2019” March 31, 2018, ( first 2018” first three 2018” first 2019 2018 13 Our interim results are not December 29, 2018, 2018 10 The condensed consolidated financial statements include the accounts of Cohu and a variable interest entity (“VIE”) that was acquired as part of our acquisition of Xcerra Corporation (“Xcerra”) and in which we have determined we are the primary beneficiary. The non-controlling interest in ALBS Solutions Sdn Bhd (“ALBS”) represents the 80% not Principles of Consolidation for Variable Interest Entities We follow ASC Topic 810 10 15 not As of March 30, 2019 December 29, 2018, one 805. March 30, 2019 December 29, 2018, not Reclassifications In conjunction with the acquisition of Xcerra the Company assessed the need to realign its financial statement presentation and certain income statement classifications were adjusted with prior periods reclassified to conform with current period presentation. The changes made were as follows: ● Amortization of intangibles previously were presented in cost of sales and SG&A. These amounts are now presented as a separate line item “Amortization of purchased intangibles” within operating expenses. ● Gains and losses associated with foreign currency translation and remeasurement were included within SG&A. These amounts are now being presented as “Foreign transaction gain (loss) and other”. A summary of the reclassifications described above and the impact on our Condensed Consolidated Statements of Operations is as follows: Three Months Ended As Presented Amortization of Purchased Intangibles Foreign Transaction Gains and Losses As Adjusted Cost of Sales $ 55,599 (676 ) - $ 54,923 SG&A Expense $ 17,763 (398 ) (1,579 ) $ 15,786 Concentration of Credit Risk Financial instruments that potentially subject us to significant credit risk consist principally of cash equivalents, short-term investments and trade accounts receivable. We invest in a variety of financial instruments and, by policy, limit the amount of credit exposure with any one Trade accounts receivable are presented net of allowance for doubtful accounts of $0.3 March 30, 2019 December 29, 2018. March 30, 2019, may Inventories Inventories are stated at the lower of cost, determined on a first first Inventories by category were as follows ( in thousands March 30, December 29, 2019 2018 Raw materials and purchased parts $ 63,352 $ 60,112 Work in process 51,705 57,953 Finished goods 15,687 21,249 Total inventories $ 130,744 $ 139,314 Property, Plant and Equipment Depreciation and amortization of property, plant and equipment, both owned and under capital lease, is calculated principally on the straight-line method based on estimated useful lives of thirty forty five fifteen three ten not Property, plant and equipment, at cost, consisted of the following (in thousands) March 30, December 29, 2019 2018 Land and land improvements $ 12,260 $ 11,905 Buildings and building improvements 36,126 37,265 Machinery and equipment 64,707 64,791 113,093 113,961 Less accumulated depreciation and amortization (41,301 ) (39,629 ) Property, plant and equipment, net $ 71,792 $ 74,332 Segment Information We applied the provisions of ASC Topic 280, Segment Reporting 280” October 1, 2018, four 280 two Goodwill, Other Intangible Assets and Long-lived Assets We evaluate goodwill for impairment annually and when an event occurs or circumstances change that indicate that the carrying value may not first second We conduct our annual impairment test as of October 1st no October 1, 2018, may March 30, 2019, not may Long-lived assets, other than goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not may not not Product Warranty Product warranty costs are accrued in the period sales are recognized. Our products are generally sold with standard warranty periods, which differ by product, ranging from 12 36 Restructuring Costs We record restructuring activities including costs for one 420 420” Exit or Disposal Cost Obligations. 420 712, Nonretirement Postemployment Benefits. Debt Issuance Costs We capitalize costs related to the issuance of debt. Debt issuance costs directly related to our Term Loam B are presented within noncurrent liabilities as a reduction of long-term debt in our consolidated balance sheets. The amortization of such costs is recognized as interest expense using the effective interest method over the term of the respective debt issue. Amortization related to deferred debt issuance costs and original discount costs was $0.3 three March 30, 2019. October 1, 2018, no three March 31, 2018. Foreign Remeasurement and Currency Translation Assets and liabilities of our wholly owned foreign subsidiaries that use the U.S. Dollar as their functional currency are re-measured using exchange rates in effect at the end of the period, except for nonmonetary assets, such as inventories and property, plant and equipment, which are re-measured using historical exchange rates. Revenues and costs are re-measured using average exchange rates for the period, except for costs related to those balance sheet items that are re-measured using historical exchange rates. Gains and losses on foreign currency transactions are recognized as incurred. Certain of our foreign subsidiaries have designated the local currency as their functional currency and, as a result, their assets and liabilities are translated at the rate of exchange at the balance sheet date, while revenue and expenses are translated using the average exchange rate for the period. During the three March 30, 2019, $0.2 three March 31, 2018, $1.6 Certain of our foreign subsidiaries have designated the local currency as their functional currency and, as a result, their assets and liabilities are translated at the rate of exchange at the balance sheet date, while revenue and expenses are translated using the average exchange rate for the period. Cumulative translation adjustments resulting from the translation of the financial statements are included as a separate component of stockholders’ equity. Share-Based Compensation We measure and recognize all share-based compensation under the fair value method. Our estimate of share-based compensation expense requires a number of complex and subjective assumptions including our stock price volatility, employee exercise patterns (expected life of the options) and related tax effects. The assumptions used in calculating the fair value of share-based awards represent our best estimates, but these estimates involve inherent uncertainties and the application of management judgment. Although we believe the assumptions and estimates we have made are reasonable and appropriate, changes in assumptions could materially impact our reported financial results. Reported share-based compensation is classified, in the condensed consolidated interim financial statements, as follows (in thousands) Three Months Ended March 30, March 31, 2019 2018 Cost of sales $ 125 $ 121 Research and development 638 349 Selling, general and administrative 2,930 1,199 Total share-based compensation 3,693 1,669 Income tax benefit (280 ) (314 ) Total share-based compensation, net $ 3,413 $ 1,355 Income (Loss) Per Share Basic income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted income (loss) per share includes the dilutive effect of common shares potentially issuable upon the exercise of stock options, vesting of outstanding restricted stock and performance stock units and issuance of stock under our employee stock purchase plan using the treasury stock method. In loss periods, potentially dilutive securities are excluded from the per share computations due to their anti-dilutive effect. For purposes of computing diluted income per share, stock options with exercise prices that exceed the average fair market value of our common stock for the period are excluded. For the three March 31, 2018, 34,000 The following table reconciles the denominators used in computing basic and diluted income (loss) per share (in thousands) Three Months Ended March 30, March 31, 2019 2018 Weighted average common shares 40,872 28,602 Effect of dilutive securities - 929 40,872 29,531 Cohu has utilized the “control number” concept in the computation of diluted earnings per share to determine whether potential common stock instruments are dilutive. The control number used is income from continuing operations. The control number concept requires that the same number of potentially dilutive securities applied in computing diluted earnings per share from continuing operations be applied to all other categories of income or loss, regardless of their anti-dilutive effect on such categories. Leases We adopted ASU 2016 02, 842 December 30, 2018. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the adoption date or the commencement date for leases entered into after the adoption date. As most of our leases do not The operating lease ROU asset also includes any lease payments made, lease incentives, favorable and unfavorable lease terms recognized in business acquisitions and excludes initial direct costs incurred and variable lease payments. Variable lease payments include estimated payments that are subject to reconciliations throughout the lease term, increases or decreases in the contractual rent payments as a result of changes in indices or interest rates and tax payments that are based on prevailing rates. Our lease terms may Leases with an initial term of 12 not We sublease certain leased assets to third None Revenue Recognition Our net sales are derived from the sale of products and services and are adjusted for estimated returns and allowances, which historically have been insignificant. We recognize revenue when the obligations under the terms of a contract with our customers are satisfied; generally, this occurs with the transfer of control of our systems, non-system products or services. In circumstances where control is not Revenue for established products that have previously satisfied a customer’s acceptance requirements is generally recognized upon shipment. In cases where a prior history of customer acceptance cannot be demonstrated or from sales where customer payment dates are not Certain of our equipment sales have multiple performance obligations. These arrangements involve the delivery or performance of multiple performance obligations, and transfer of control of performance obligations may Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. At March 30, 2019, $16.8 one 606, not one We generally sell our equipment with a product warranty. The product warranty provides assurance to customers that delivered products are as specified in the contract (an “assurance-type warranty”). Therefore, we account for such product warranties under ASC 460, Guarantees 460 not The transaction price reflects our expectations about the consideration we will be entitled to receive from the customer and may not not Our contracts are typically less than one 606 one Accounts receivable represents our unconditional right to receive consideration from our customer. Payments terms do not one not no no On shipments where sales are not March 30, 2019, $13.9 $8.3 one $3.1 December 29, 2018, $10.8 $6.9 one $2.0 Net sales of our reportable segments, by type, are as follows (in thousands): Three Months Ended Disaggregrated Net Sales (1) March 30, 2019 March 31, 2018 Systems: Semiconductor Test & Inspection $ 79,940 $ 54,905 PCB Test 6,972 N/A Non-systems: Semiconductor Test & Inspection 56,753 40,245 PCB Test 4,144 N/A Total net sales $ 147,809 $ 95,150 ( 1 After the acquisition of Xcerra on October 1, 2018 two Revenue by geographic area based upon product shipment destination ( in thousands Three Months Ended Disaggregrated Net Sales March 30, 2019 March 31, 2018 China $ 23,551 $ 20,243 United States 17,101 14,478 Malaysia 17,714 11,809 Taiwan 14,970 2,941 Philippines 14,541 10,546 Rest of the World 59,932 35,133 Total net sales $ 147,809 $ 95,150 A small number of customers historically have been responsible for a significant portion of our net sales. Significant customer concentration information, by reportable segment, is as follows: Three Months Ended March 30, March 31, 2019 2018 Semiconductor Test & Inspection (1) Customers individually accounting for more than 10% of net sales one one Percentage of net sales 11 % 12 % PCB Test Customers individually accounting for more than 10% of net sales * N/A Percentage of net sales * N/A * No 10% ( 1 After the acquisition of Xcerra on October 1, 2018 two Accumulated Other Comprehensive Loss Our accumulated other comprehensive loss balance totaled approximately $30.7 $25.9 March 30, 2019 December 29, 2018, not first three 2019 2018 not Retiree Medical Benefits We provide post-retirement health benefits to certain retired executives, one no first three 2019 2018 not Discontinued Operations Management has determined that the fixtures services business, that was acquired as part of Xcerra, does not December 29, 2018. 10, Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements We adopted ASU 2016 02, 842 December 30, 2018, We made an accounting policy election to not 12 not 2016 02. Adoption of the new standard resulted in the recording of additional net lease assets and lease liabilities of approximately $30.7 $29.9 December 30, 2018. 840 $10.2 840 $0.5 $0.6 not no Recently Issued Accounting Pronouncements In August 2018, 2018 14, Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans not December 15, 2020 not 2018 14 In August 2018, 2018 13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement not December 15, 2019. 3 not 2018 13 |
