Diodes (DIOD) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 01, 2022
Cover [Abstract]
Document type	10-Q
Document period end date	Jun. 30, 2022
Amendment flag	false
Entity registrant name	DIODES INC /DEL/
Entity central index key	0000029002
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity common stock shares outstanding		45,481,026
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	DIOD
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	002-25577
Entity Tax Identification Number	95-2039518
Entity Address, Address Line One	4949 Hedgcoxe Road
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	972
Local Phone Number	987-3900
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, Par Value $0.66 2/3
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 299,868	$ 363,599
Restricted cash	7,679	3,219
Short-term investments	8,833	6,542
Accounts receivable, net of allowances of 4,936 and $4,324 at June 30, 2022 and December 31, 2021, respectively	401,196	358,496
Inventories	371,351	348,622
Prepaid expenses and other	125,686	107,194
Total current assets	1,214,613	1,187,672
Property, plant and equipment, net	671,654	582,079
Deferred income tax	20,189	21,256
Goodwill	145,898	149,890
Intangible assets, net	86,071	94,550
Other long-term assets	146,619	159,048
Total assets	2,285,044	2,194,495
Current liabilities:
Lines of credit	25,907	18,068
Accounts payable	219,329	221,254
Accrued liabilities and other	205,152	184,649
Income tax payable	40,253	29,682
Current portion of long-term debt	9,336	17,381
Total current liabilities	499,977	471,034
Long-term debt, net of current portion	229,912	265,574
Deferred tax liabilities	31,541	32,230
Other long-term liabilities	106,155	122,933
Total liabilities	867,585	891,771
Commitments and contingencies (See Note 9)
Stockholders' equity
Preferred stock - par value $1.00 per share; 1,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock - par value $0.66 2/3 per share; 70,000,000 shares authorized; and 45,288,669 shares and 45,017,774 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	36,376	36,195
Additional paid-in capital	478,374	471,649
Retained earnings	1,269,655	1,116,809
Treasury stock at cost, 9,272,513 shares at June 30, 2022 and at December 31, 2021	(337,112)	(336,894)
Accumulated other comprehensive loss	(93,974)	(50,517)
Total stockholders' equity	1,353,319	1,237,242
Noncontrolling interest	64,140	65,482
Total equity	1,417,459	1,302,724
Total liabilities and stockholders' equity	$ 2,285,044	$ 2,194,495

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 4,936	$ 4,324
Preferred stock par value	$ 1	$ 1
Preferred stock shares authorized	1,000,000	1,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value	$ 0.66	$ 0.66
Common stock shares authorized	70,000,000	70,000,000
Common stock shares issued	45,288,669	45,017,774
Common stock shares outstanding	45,288,669	45,017,774
Treasury stock, shares	9,272,513	9,272,513

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 500,972	$ 440,448	$ 983,095	$ 853,569
Cost of goods sold	294,446	280,646	579,872	555,131
Gross profit	206,526	159,802	403,223	298,438
Operating expenses
Selling, general and administrative	69,067	60,280	140,510	118,956
Research and development	30,762	29,987	59,439	57,646
Amortization of acquisition related intangible assets	3,980	4,060	7,842	8,083
Other operating expense (income)	(3,521)	118	(3,864)	1,006
Total operating expense	100,288	94,445	203,927	185,691
Income from operations	106,238	65,357	199,296	112,747
Other (expense) income
Interest income	861	818	1,687	1,586
Interest expense	(1,590)	(2,017)	(2,704)	(4,881)
Foreign currency gain (loss), net	1,819	(510)	3,540	(1,789)
Unrealized (loss) gain on investments	(7,764)	5,261	(13,312)	8,916
Other income	1,647	1,837	3,523	4,154
Total other (expense) income	(5,027)	5,389	(7,266)	7,986
Income before income taxes and noncontrolling interest	101,211	70,746	192,030	120,733
Income tax provision	18,461	12,120	35,107	21,554
Net income	82,750	58,626	156,923	99,179
Less net income attributable to noncontrolling interest	(2,595)	(3,252)	(4,077)	(4,353)
Net income attributable to common stockholders	$ 80,155	$ 55,374	$ 152,846	$ 94,826
Earnings per share attributable to common stockholders:
Basic	$ 1.77	$ 1.24	$ 3.38	$ 2.13
Diluted	$ 1.75	$ 1.22	$ 3.33	$ 2.09
Number of shares used in earnings per share computation:
Basic	45,265	44,667	45,185	44,538
Diluted	45,841	45,380	45,913	45,327

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	$ 82,750	$ 58,626	$ 156,923	$ 99,179
Unrealized gain on defined benefit plan, net of tax	7,133	4,961	5,600	6,855
Unrealized gain (loss) on swaps and collars, net of tax	2,063	(2,027)	4,894	1,799
Unrealized foreign currency (loss), net of tax	(41,366)	12,849	(53,951)	9,111
Comprehensive income	50,580	74,409	113,466	116,944
Less: Comprehensive income attributable to noncontrolling interest	(2,595)	(3,252)	(4,077)	(4,353)
Total comprehensive income attributable to common stockholders	$ 47,985	$ 71,157	$ 109,389	$ 112,591

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total Diodes Incorporated Stockholders' Equity	Noncontrolling Interest
BALANCE at Dec. 31, 2020	$ 1,016,123	$ 35,692	$ (335,910)	$ 449,598	$ 888,046	$ (73,606)	$ 963,820	$ 52,303
Common stock shares beginning at Dec. 31, 2020		53,536	(9,260)
Total comprehensive income (loss)	116,944				94,826	17,765	112,591	4,353
Net changes in noncontrolling interests	3,735			(22)			(22)	3,757
Common stock issued for share-based plans	2,103	$ 306		1,797			2,103
Common stock issued for share-based plans, shares		458
Share-based compensation	14,138			14,138			14,138
Deferred compensation plan			$ (218)	218
Deferred compensation plan, shares			(3)
Tax related to net share settlement	(10,046)			(10,046)			(10,046)
BALANCE at Jun. 30, 2021	1,142,997	$ 35,998	$ (336,128)	455,683	982,872	(55,841)	1,082,584	60,413
Common stock shares ending at Jun. 30, 2021		53,994	(9,263)
BALANCE at Mar. 31, 2021	1,056,980	$ 35,908	$ (335,910)	446,697	927,498	(71,624)	1,002,569	54,411
Common stock shares beginning at Mar. 31, 2021		53,860	(9,260)
Total comprehensive income (loss)	74,409				55,374	15,783	71,157	3,252
Net changes in noncontrolling interests	2,732			(18)			(18)	2,750
Common stock issued for share-based plans	1,349	$ 90		1,259			1,349
Common stock issued for share-based plans, shares		134
Share-based compensation	8,280			8,280			8,280
Deferred compensation plan			$ (218)	218
Tax related to net share settlement	(753)			(753)			(753)
BALANCE at Jun. 30, 2021	1,142,997	$ 35,998	$ (336,128)	455,683	982,872	(55,841)	1,082,584	60,413
Common stock shares ending at Jun. 30, 2021		53,994	(9,263)
BALANCE at Dec. 31, 2021	$ 1,302,724	$ 36,195	$ (336,894)	471,649	1,116,809	(50,517)	1,237,242	65,482
Common stock shares beginning at Dec. 31, 2021	45,017,774	54,290	(9,273)
Total comprehensive income (loss)	$ 113,466				152,846	(43,457)	109,389	4,077
Net changes in noncontrolling interests	(6,433)			(1,014)			(1,014)	(5,419)
Common stock issued for share-based plans	140	$ 181		(41)			140
Common stock issued for share-based plans, shares		272
Share-based compensation	16,426			16,426			16,426
Deferred compensation plan			$ (218)	218
Tax related to net share settlement	(8,864)			(8,864)			(8,864)
BALANCE at Jun. 30, 2022	$ 1,417,459	$ 36,376	$ (337,112)	478,374	1,269,655	(93,974)	1,353,319	64,140
Common stock shares ending at Jun. 30, 2022	45,288,669	54,562	(9,273)
BALANCE at Mar. 31, 2022	$ 1,360,019	$ 36,338	$ (336,894)	470,363	1,189,500	(61,804)	1,297,503	62,516
Common stock shares beginning at Mar. 31, 2022		54,504	(9,273)
Total comprehensive income (loss)	50,580				80,155	(32,170)	47,985	2,595
Net changes in noncontrolling interests	(971)							(971)
Common stock issued for share-based plans	56	$ 38		18			56
Common stock issued for share-based plans, shares		58
Share-based compensation	8,607			8,607			8,607
Deferred compensation plan			$ (218)	218
Tax related to net share settlement	(832)			(832)			(832)
BALANCE at Jun. 30, 2022	$ 1,417,459	$ 36,376	$ (337,112)	$ 478,374	$ 1,269,655	$ (93,974)	$ 1,353,319	$ 64,140
Common stock shares ending at Jun. 30, 2022	45,288,669	54,562	(9,273)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net income	$ 156,923	$ 99,179
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of acquisitions
Depreciation	52,047	53,105
Amortization of intangible assets	7,842	8,083
Share-based compensation expense	16,513	14,764
Deferred income taxes	(2,415)	1,194
Investment loss (gain)	13,197	(9,075)
(Gain) loss on disposal of property, plant and equipment	(3,756)	136
Other	(2,145)	151
Changes in operating assets:
Change in accounts receivable	(50,368)	(17,060)
Change in inventory	(35,119)	(2,451)
Change in other operating assets	(25,083)	(5,597)
Changes in operating liabilities:
Change in accounts payable	5,404	19,456
Change in accrued liabilities	17,790	4,706
Change in income tax payable	11,988	(2,332)
Change in other operating liabilities	(5,479)	(2,195)
Net cash flows provided by operating activities	157,339	162,064
Cash flows from investing activities
Acquisitions, net of cash received	(85,692)	0
Purchases of property, plant and equipment	(78,105)	(45,037)
Proceeds from sale of property, plant and equipment	89	3,042
Proceeds from short-term investments	3,819	4,020
Purchases of short-term investments	(6,708)	(5,160)
Purchase of equity securities	(4,051)	(1)
Other	6,080	6,462
Net cash and cash equivalents used in investing activities	(164,568)	(36,674)
Cash flows from financing activities
Line of credit drawn	45,214	6,404
Repayments of lines of credit and short-term debt	(35,382)	(88,307)
Proceeds from long-term debt	184,718	315,006
Repayments of long-term debt	(227,078)	(384,554)
Net proceeds from issuance of common stock	140	2,103
Repayment of and proceeds from finance lease obligation	(12)	(151)
Taxes paid related to net share settlement	(8,864)	(10,046)
Net changes in noncontrolling interests	2,701	3,753
Other	(227)	(500)
Net cash and cash equivalents used in provided by financing activities	(38,790)	(156,292)
Effect of exchange rate changes on cash and cash equivalents	(13,252)	5,291
Change in cash and cash equivalents, including restricted cash	(59,271)	(25,611)
Cash and cash equivalents, beginning of period, including restricted cash	366,818	320,529
Cash and cash equivalents, end of period, including restricted cash	307,547	294,918
Supplemental Cash Flow Information
Interest paid during the period	2,226	4,545
Taxes paid during the period	29,674	23,904
Non-cash investing and financing activities:
Accounts payable balance related to the purchase of property, plant and equipment	30,286	16,081
Dividend payable to noncontrolling interest	$ 3,657	$ 0

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 299,868	$ 292,650
Restricted cash (included in other current assets)	7,679	2,268
Total cash, cash equivalents and restricted cash	307,547	$ 294,918
Pledged as Collateral
Current assets:
Restricted cash (included in other current assets)	$ 7,700

Summary of Operations and Signi

Summary of Operations and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Operations and Significant Accounting Policies	NOTE 1 – Summary of Operations and Significant Accounting Policies Summary of Operations Diodes Incorporated, together with its subsidiaries (collectively the “Company,” “we” or “our”(Nasdaq: DIOD)), a Standard and Poor's Smallcap 600 and Russell 3000 Index company, is a leading global manufacturer and supplier of high-quality application-specific standard products within the broad discrete, logic, analog, and mixed-signal semiconductor markets. The Company serves the consumer electronics, computing, communications, industrial, and automotive markets. The Company's products include diodes; rectifiers; transistors; MOSFETs; GPP bridges; GPP rectifiers; protection devices; function-specific arrays; single gate logic; amplifiers and comparators; Hall-effect and temperature sensors; and power management devices, including LED drivers, AC-DC converters and controllers, DC-DC switching and linear voltage regulators, voltage references along with special-function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers. The Company also has timing, connectivity, switching, and signal integrity solutions for high-speed signals. The Company's corporate headquarters and Americas’ sales offices are located in Plano, Texas, and Milpitas, California, respectively. Design, marketing, and engineering centers are located in Plano; Milpitas; Taipei, Taoyuan City, Zhubei City, Taiwan; Shanghai and Yangzhou, China; Oldham, England; and Neuhaus, Germany. The Company's wafer fabrication facilities are located in Oldham, England; Greenock, Scotland; Shanghai and Wuxi, China; and Keelung, Hsinchu, Taiwan and South Portland, Maine, United States. The Company has assembly and test facilities located in Shanghai, Jinan, Chengdu, and Wuxi, China; Neuhaus, Germany; and Jhongli and Keelung, Taiwan. Additional engineering, sales, warehouse, and logistics offices are located in Taipei, Taiwan; Hong Kong; Oldham, England; Shanghai, Shenzhen, Wuhan, and Yangzhou, China; Seongnam-si, South Korea; and Munich and Frankfurt, Germany; with support offices throughout the world. • The Company’s manufacturing facilities have achieved certifications in the internationally recognized standards of ISO 9001:2015, ISO 14001:2015, and, for automotive products, IATF 16949:2016; • Diodes Incorporated is also C-TPAT certified; and • We believe these quality awards reflect the superior quality-control techniques established at Diodes Incorporated and further enhance our credibility as a vendor-of-choice to original equipment manufacturers ("OEMs") increasingly concerned with quality and consistency. Our market focus is on high-growth, end-user applications in the following areas: • Automotive: connected driving, comfort/style/safety, and electrification/powertrain; • Industrial: embedded systems, precision controls, and Industrial IoT; • Consumer: IoT, wearables, home automation, and smart infrastructure; • Communications: smart phones, 5G networks, advanced protocols, and charging solutions; and • Computing: cloud computing including server, storage, and data center applications. Basis of Presentation The condensed consolidated financial data at December 31, 2021 are derived from audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on February 18, 2022 (“Form 10-K”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q. They do not include all information and footnotes necessary for a fair presentation of financial position, operating results and cash flows in conformity with GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in our Form 10-K. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the operating results for the period presented have been included in the interim period. Operating results for the three months and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for other interim periods or the year ending December 31, 2022. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. As permitted under GAAP, interim accounting for certain expenses, including income taxes, are based on full year forecasts. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates taking into consideration discrete items occurring in a quarter. Dollar amounts and share amounts are presented in thousands, except per share amounts, unless otherwise noted. Certain prior year’s balances may have been reclassified to conform to the current condensed consolidated financial statement presentation. Recently Issued Accounting Pronouncements In March 2022, the Financial Accounting Standard Board ("FASB") issued Accounting Standards Update (“ASU”) 2022-02, Financial Instruments - Credit Losses (Topic 740): Troubled Debt Restructurings and Vintage Disclosures. This ASU among other things, updates accounting and disclosures for public business entities to disclose gross write-offs and gross recoveries by class of financing receivable and major security type in vintage disclosures. This guidance is effective for annual reporting periods beginning after December 15, 2022, including interim periods therein. We are assessing this guidance but do not anticipate it will have material impact on our consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities. Under the new guidance, the acquirer should determine what contract assets and/or contract liabilities it would have recorded under ASC 606 as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021 - 08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. The Company will continue evaluating the impact of this ASU. In November 2021, the FASB issued ASU No. 2021-10 Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance, which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new standard was effective for the Company on January 1, 2022 and only impacts annual financial statement footnote disclosures. The adoption will not have a material effect on our consolidated financial statements.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 2 – Earnings per Share Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the three months and six months ended June 30, 2022 and 2021, we paid no dividends on our Common Stock. The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Earnings (numerator) Net income attributable to common stockholders $ 80,155 $ 55,374 $ 152,846 $ 94,826 Shares (denominator) Weighted average common shares outstanding (basic) 45,265 44,667 45,185 44,538 Dilutive effect of stock options and stock awards outstanding 576 713 728 789 Adjusted weighted average common shares outstanding (diluted) 45,841 45,380 45,913 45,327 Earnings per share attributable to common stockholders Basic $ 1.77 $ 1.24 $ 3.38 $ 2.13 Diluted $ 1.75 $ 1.22 $ 3.33 $ 2.09 Stock options and stock awards excluded from EPS 175 6 76 3

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	NOTE 3 – Inventories The table below sets forth inventories which are stated at the lower of cost or net realizable value: June 30, 2022 December 31, 2021 Finished goods $ 100,501 $ 108,557 Work-in-progress 91,343 81,784 Raw materials 179,507 158,281 Total $ 371,351 $ 348,622

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	NOTE 4 – Goodwill and Intangible Assets The table below sets forth the changes in goodwill: Balance at December 31, 2021 $ 149,890 Acquisition $ 1,779 Foreign currency translation adjustment ( 5,771 ) Balance at June 30, 2022 $ 145,898 The table below sets forth the value of intangible assets, other than goodwill: June 30, December 31, 2022 2021 Intangible assets subject to amortization: Gross carrying amount $ 249,756 $ 247,695 Accumulated amortization ( 164,769 ) ( 156,927 ) Foreign currency translation adjustment ( 8,003 ) ( 7,582 ) Total 76,984 83,186 Intangible assets with indefinite lives: Gross carrying amount 10,303 12,364 Foreign currency translation adjustment ( 1,216 ) ( 1,000 ) Total 9,087 11,364 Total intangible assets, net $ 86,071 $ 94,550 The table below sets forth amortization expense related to intangible assets subject to amortization: Amortization expense 2022 2021 Three Months Ended June 30, $ 3,980 $ 4,060 Six Months Ended June 30, $ 7,842 $ 8,083

Income Tax Provision

Income Tax Provision	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax Provision	NOTE 5 – Income Tax Provision The table below sets forth information related to our income tax expense: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Domestic pre-tax income $ 68,753 $ 18,577 $ 131,872 $ 25,645 Foreign pre-tax income $ 32,458 $ 52,169 $ 60,158 $ 95,088 Income tax provision $ 18,461 $ 12,120 $ 35,107 $ 21,554 Effective tax rate 18.2 % 17.1 % 18.3 % 17.9 % Impact of tax holidays on tax expense $ 1,334 $ ( 679 ) $ 1,291 $ ( 1,261 ) Earnings per share impact of tax holidays: Basic $ ( 0.03 ) $ 0.02 $ ( 0.03 ) $ 0.03 Diluted $ ( 0.03 ) $ 0.02 $ ( 0.03 ) $ 0.03 The increase in the effective tax rate for the three and six months ended June 30, 2022 when compared to the three and six months ended June 30, 2021, is primarily attributable to the change in pre-tax earnings during the comparable periods. Our undistributed foreign earnings continue to be indefinitely reinvested in foreign operations, with limited exceptions related to earnings of certain European and Asian subsidiaries. Any future distributions of foreign earnings will not be subject to additional U.S. income tax, but may be subject to non-U.S. withholding taxes. We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. We are no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2013, or for the 2015 tax year. We are no longer subject to China income tax examinations by tax authorities for tax years before 2011. With respect to state and local jurisdictions and countries outside of the U.S. (other than China), with limited exceptions, the Company is no longer subject to income tax audits for years before 2016. Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest and penalties, if any, have been provided for in the Company’s reserve for any adjustments that may result from currently pending tax audits. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in interest expense. As of June 30, 2022, the gross amount of unrecognized tax benefits was approximately $ 45.9 million. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions will significantly increase or decrease within the next 12 months. At this time, an estimate of the range of the reasonably possible outcomes cannot be made.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	NOTE 6 – Share-Based Compensation The table below sets forth information related to our share-based compensation expense: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Cost of goods sold $ 336 $ 282 $ 683 $ 557 Selling, general and administrative 7,246 7,627 13,780 12,659 Research and development 1,029 734 2,050 1,548 Total share-based compensation expense $ 8,611 $ 8,643 $ 16,513 $ 14,764 Share Grants – Share grants consist of restricted stock awards, restricted stock units and performance stock units ("PSUs"). Restricted stock awards and restricted stock units generally vest in equal annual installments over a four-year period and are measured based on the fair market value of the underlying stock on the date of grant. Compensation expense is recognized on a straight-line basis over the requisite four-year service period. All new grants are granted under the Company’s 2022 Equity Incentive Plan. Performance stock units (“PSUs”) are measured based on the fair market value of the underlying stock on the date of grant, and compensation expense is recognized over the three-year performance period, with adjustments made to the expense to recognize the probable payout percentage. As of June 30, 2022, total unrecognized share-based compensation expense related to share grants was approximately $ 64.3 million, before income taxes, and is expected to be recognized over a weighted average period of approximately 2.1 years. Stock Options –We recognized stock option expense of less tha n $ 10 tho usand and less than $ 20 thousand for the three months ended June 30, 2022 and June 30, 2021, respectively. We recognized stock option expense of less than $ 20 thousand and less than $ 40 thousand for the six months ended June 30 2022 and 2021, respectively. All stock option expense is related to stock options granted by Savitech Corporation (“Savitech”) in Savitech stock to their employees. We acquired a controlling interest in Savitech in 2020.

Enterprise Wide Segment Informa

Enterprise Wide Segment Information and Net Sales	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Enterprise Wide Segment Information and Net Sales	NOTE 7 – Enterprise Wide Segment Information and Net Sales Segment Reporting. For financial reporting purposes, we operate in a single segment, standard semiconductor products, through our various manufacturing and distribution facilities. We aggregate our products because the products are similar and have similar economic characteristics, use similar production processes and share similar customer type. Our primary operations include operations in Asia, the Americas and Europe. No customer accounted for 10 % or more of our net sales or outstanding accounts receivable at any point in the periods presented in this Quarterly Report. Disaggregation of Net Sales. We disaggregate net sales with customers into direct sales and distribution sales (“Distributors”) and by geographic area. Direct sales customers consist of those customers using our product in their manufacturing process, and Distributors are those customers who resell our products to third parties. We deliver our products to customers around the world for use in consumer electronics, computing, communications, industrial and automotive markets. Further, most of our contracts are fixed-price arrangements, and are short term in nature, ranging from days to several months. The tables below set forth net sales based on the location of the subsidiary producing the net sale: Three Months Ended June 30, 2022 Asia Americas Europe Consolidated Total sales $ 464,154 $ 313,884 $ 86,399 $ 864,437 Intercompany elimination ( 166,656 ) ( 166,594 ) ( 30,215 ) ( 363,465 ) Net sales $ 297,498 $ 147,290 $ 56,184 $ 500,972 Three Months Ended June 30, 2021 Asia Americas Europe Consolidated Total sales $ 483,083 $ 261,725 $ 67,598 $ 812,406 Intercompany elimination ( 176,404 ) ( 167,318 ) ( 28,236 ) ( 371,958 ) Net sales $ 306,679 $ 94,407 $ 39,362 $ 440,448 As of and for the Six Months Ended June 30, 2022 Asia Americas Europe Consolidated Total sales $ 915,039 $ 607,654 $ 164,456 $ 1,687,149 Intercompany elimination ( 323,819 ) ( 324,171 ) ( 56,064 ) ( 704,054 ) Net sales $ 591,220 $ 283,483 $ 108,392 $ 983,095 Property, plant and equipment, net $ 472,923 $ 100,092 $ 98,639 $ 671,654 Total assets $ 1,627,631 $ 424,489 $ 232,924 $ 2,285,044 As of and for the Six Months Ended June 30, 2021 Asia Americas Europe Consolidated Total sales $ 954,152 $ 508,552 $ 127,772 $ 1,590,476 Intercompany elimination ( 355,354 ) ( 328,147 ) ( 53,406 ) ( 736,907 ) Net sales $ 598,798 $ 180,405 $ 74,366 $ 853,569 Property, plant and equipment, net $ 412,421 $ 25,044 $ 84,717 $ 522,182 Total assets $ 1,423,099 $ 350,339 $ 219,531 $ 1,992,969 The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment and by type (direct sales or Distributor ): Three Months Ended Net Sales by Region 2022 2021 Asia $ 372,055 $ 353,312 Europe 68,032 54,056 Americas 60,885 33,080 Total net sales $ 500,972 $ 440,448 Net Sales by Type Direct sales $ 147,249 $ 151,048 Distributor sales 353,723 289,400 Total net sales $ 500,972 $ 440,448 Six Months Ended Net Sales by Region 2022 2021 Asia $ 736,871 $ 687,937 Europe 132,803 102,442 Americas 113,421 63,190 Total net sales $ 983,095 $ 853,569 Net Sales by Type Direct sales $ 295,667 $ 298,939 Distributor sales 687,428 554,630 Total net sales $ 983,095 $ 853,569 Net sales from products shipped to China was $ 240.6 million and $ 229.3 million for the three months ended June 30, 2022 and 2021, respectively. Net sales from products shipped to China was $ 471.0 million and $ 451.7 million for the six months ended June 30, 2022 and 2021, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	NOTE 8 – Debt Short-term debt Our Asia subsidiaries maintain credit facilities with several financial institutions through our foreign entities worldwide totaling $ 201.8 million. Other than two Taiwanese credit facilities that are collateralized by assets, our foreign credit lines are unsecured, uncommitted and contain no restrictive covenants. These credit facilities bear interest at LIBOR or similar indices plus a specified margin. Interest payments are due monthly on outstanding amounts under the credit lines. The unused and available credit under the various facilities as of June 30, 2022, was approximately $ 175.1 million, net of $ 25.9 million advanced under our foreign credit lines and $ 0.9 million credit used for import and export guarantee. Long-term debt The Company maintains a long-term credit facility (“U.S. Credit Agreement”) consisting of a term loan with a current balance of $ 63.6 million and a $ 200.0 million revolving senior credit facility with $ 30.0 million drawn as of June 30, 2022. Borrowings outstanding as of June 30, 2022 and December 31, 2021, are set forth in the table below: June 30, December 31, Current Amount Description 2022 2021 Interest Rate Maturity Short-term debt $ 25,907 $ 18,068 Various indices plus margin Various during 2022 Long-term debt Term loan and revolver $ 93,560 $ 155,122 Libor plus margin May 2024 Notes payable to Bank of Taiwan 2,225 2,492 Variable, 1.3% base June 2033 Notes payable to Bank of Taiwan 1,682 1,807 2-yr deposit rate floating September 2023 Notes payable to Bank of China Trust Company 14,678 16,168 Taibor 3 month rate + 0.5% May 2024 Notes payable to Bank of China Trust Company 3,365 3,614 Taibor 3 month rate + 0.5% December 2023 Notes payable to E Sun Bank 3,365 3,614 1-M deposit rate plus 0.08% December 2023 Notes payable to E Sun Bank 315 371 1-M deposit rate plus 0.08% June 2027 Notes payable to E Sun Bank 1,649 1,771 1-M deposit rate plus 0.08% June 2030 Notes payable to HSBC 100,000 100,000 Libor plus margin January 2024 Notes payable to HSBC 20,000 - Libor plus margin December 2023 Total long-term debt 240,839 284,959 Less: Current portion of long-term debt ( 9,336 ) ( 17,381 ) Less: Unamortized debt costs ( 1,591 ) ( 2,004 ) Total long-term debt, net of current portion $ 229,912 $ 265,574

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 – Commitments and Contingencies Purchase commitments – We have entered into non-cancelable purchase contracts for capital expenditures, primarily for manufacturing equipment, for approximately $ 124.1 million at June 30, 2022. As of June 30, 2022, we also had a commitment to purchase approximately $ 195.8 million of wafers to be used in our manufacturing process. These wafer purchases will occur through 2025. Defined Benefit Plan - We have a contributory defined benefit plan that covers certain employees in the United Kingdom. As of June 30, 2022, the underfunded liability for this defined benefit plan was approximately $ 4.4 million. We have agreed to a schedule of contributions of GBP 2.0 million (approximately $ 2.4 million based on a GBP: USD exchange rate of 1.2 :1) to be paid in annual installments that began on March 31, 2021, and payments to be made by December 31 each year thereafter). These contributions, together with the assumed asset performance, are expected to eliminate the deficit by December 31, 2028. Further, we will pay GBP 0.2 million (approximately $ 0.2 million based on GBP: USD exchange rate oat 1.2 :1) in annual installments to cover expenses. Contingencies – From time to time, we are involved in various legal proceedings that arise in the normal course of business. While we intend to defend any lawsuit vigorously, we presently believe that the ultimate outcome of any pending legal proceeding will not have any material adverse effect on our consolidated financial position, cash flows or operating results. However, litigation is subject to inherent uncertainties, and unfavorable rulings could occur. An unfavorable ruling could include monetary damages, which could impact our business and operating results for the period in which the ruling occurs or future periods. Based on information available, we evaluate the likelihood of potential outcomes of all pending disputes. We record an appropriate liability when the amount of any liability associated with a pending dispute is deemed probable and reasonably estimable. In addition, we do not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. The Company is not currently a party to any pending litigation that the Company considers material.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 10 – Derivative Financial Instruments We use derivative instruments to manage risks related to foreign currencies, interest rates and the net investment risk in our foreign subsidiaries. Our objectives for holding derivatives include reducing, eliminating, and efficiently managing the economic impact of these exposures as effectively as possible. Our derivative programs include strategies that both qualify and do not qualify for hedge accounting treatment. Hedges of Foreign Currency Risk - We are exposed to fluctuations in various foreign currencies against our different functional currencies. We use foreign currency forward agreements to manage this exposure. At June 30, 2022 and December 31, 2021, we had $ 240.1 million and $ 195.2 million, respectively, of outstanding foreign currency forward agreements that are intended to preserve the economic value of foreign currency denominated monetary assets and liabilities; these instruments are not designated for hedge accounting treatment in accordance with Accounting Standards Codification ("ASC") No. 815. Hedges of Interest Rate and Net Investment Risk - The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps, including interest rate collars, as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company makes use of cross currency swaps to decrease the foreign exchange risk inherent in the Company’s investment in some of its foreign subsidiaries. The table below sets forth the fair value of the Company’s currency swap related derivative financial instruments as well as their classification on our condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021: Other Assets Other Liabilities 2022 2021 2022 2021 Currency Swaps $ 7,092 $ - $ 3,392 $ 1,330

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	NOTE 11 – Leases The Company leases certain assets used in its business, including land, buildings and equipment. These leased assets are used for operational and administrative purposes. The components of lease expense are set forth in the table below: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Operating lease expense $ 3,349 $ 4,149 $ 6,859 $ 8,384 Finance lease expense: Amortization of assets 3 2 5 213 Interest on lease liabilities – – – 1 Short-term lease expense 256 246 526 491 Variable lease expense 862 1,161 1,837 2,290 Total lease expense $ 4,470 $ 5,558 $ 9,227 $ 11,379 The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion: June 30, 2022 December 31, 2021 Operating leases: Operating lease ROU assets $ 44,365 $ 49,703 Current operating lease liabilities 9,062 11,199 Noncurrent operating lease liabilities 19,160 22,291 Total operating lease liabilities $ 28,222 $ 33,490 Finance leases: Finance lease ROU assets $ 2,557 $ 2,561 Accumulated amortization ( 2,534 ) ( 2,524 ) Finance lease ROU assets, net $ 23 $ 37 Current finance lease liabilities $ 9 $ 15 Non-current finance lease liabilities 13 23 Total finance lease liabilities $ 22 $ 38 Weighted average remaining lease term (in years): Operating leases 7.1 6.9 Finance leases 2.1 2.3 Weighted average discount rate: Operating leases 4.0 % 4.0 % Finance leases 3.7 % 3.7 % The table below sets forth supplemental cash flow and other information related to leases: Six Months Ended June 30, 2022 June 30, 2021 Cash paid for the amounts included in the measurements of lease liabilities: Operating cash outflows from operating leases $ 9,494 $ 10,973 Operating cash outflows from finance leases – 1 Financing cash outflow from finance leases 12 151 ROU assets obtained in exchange for lease liabilities incurred: Operating leases 2,186 12,265 The table below sets forth information about lease liability maturities: June 30, 2022 Operating Leases Finance Leases 2022 $ 6,020 $ 10 2023 7,522 8 2024 4,734 4 2025 4,139 1 2026 2,711 - 2027 657 - 2028 and thereafter 7,873 - Total lease payments 33,656 23 Less: imputed interest ( 5,434 ) ( 1 ) Total lease obligations 28,222 22 Less: current obligations ( 9,062 ) ( 9 ) Long-term lease obligations $ 19,160 $ 13

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	NOTE 12 – Employee Benefit Plans We maintain a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors. The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. We offset our obligations under the Deferred Compensation Plan primarily by investing in the actual underlying investments. At June 30, 2022 and December 31, 2021, these investments totaled approximately $ 12.4 million and $ 15.5 million, respectively.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Parties	NOTE 13 – Related Parties We conduct business with the following related parties: Keylink International (B.V.I.) Inc. and its subsidiaries and affiliates (“Keylink”), Nuvoton Technology Corporation (“Nuvoton”) and Jiyuan Crystal Photoelectric Frequency Technology Ltd. (“JCP”). Keylink is a 5 % joint venture partner in our Shanghai assembly and test facilities. We sell products to, and purchase inventory from, companies owned by Keylink. In addition, our subsidiaries in China lease their manufacturing facilities in Shanghai from, and subcontract a portion of our manufacturing process (metal plating and environmental services) to Keylink. We also pay a consulting fee to Keylink. O ur Chairman and CEO serves as a member of the Nuvoton board of directors and we purchase wafers from Nuvoton for use in our production process and we have an agreement to purchase approximately $ 41.2 million of wafers from Nuvoton that ends in the fourth quarter of 2025. We consider our relationships Nuvoton to be mutually beneficial and plan to continue our strategic alliance with Nuvoton. JCP is a frequency control product manufacturing company from which we purchase material and in which we have made an equity investment. We account for this investment using the equity method of accounting. The table below set forth the net sales, purchases and expenses with our related parties for the three months and six months ended June 30: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Keylink: Net sales $ 4,149 $ 4,333 $ 9,915 $ 9,899 Purchases $ 506 $ 501 $ 928 $ 980 Plating, rental and consulting expense $ 4,418 $ 4,341 $ 8,965 $ 8,656 Nuvoton: Net sales $ 8 $ - $ 43 $ - Purchases $ 4,094 $ 2,288 $ 7,160 $ 3,695 JCP: Purchases $ 157 $ 328 $ 370 $ 687 The table below sets forth accounts receivable from, and accounts payable to, related parties: June 30, 2022 December 31, 2021 Keylink: Accounts receivable $ 47,373 $ 39,530 Accounts payable $ 45,132 $ 36,090 Nuvoton: Accounts receivable $ 9 $ - Accounts payable $ 2,328 $ 2,014 JCP: Accounts payable $ 152 $ 235

Equity Investments

Equity Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Equity Investments	Note 14 - Equity Investments Equity Investments The Company maintains equity investments in companies which are accounted for under the measurement alternative described in ASC 321-10-35-2 for equity securities that lack readily determinable fair values. During the six months ended June 30, 2022 the Company recognized $ 3.9 million upward fair value adjustments, based on the valuation of additional equity issued by the investee which was deemed to be an observable transaction of a similar investment under ASC 321. The gain was recorded within Other income, in the condensed consolidated statement of operations. The upward fair value adjustment represents a nonrecurring fair value measurement based on observable price changes.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 15 –Acquisitions and Divestitures Wafer Fabrication Plant in South Portland, Maine On June 3, 2022, the Company completed the previously announced acquisition of onsemi's wafer fabrication facility and operations located in South Portland, Maine. The South Portland Facility ("SPFAB") was purchased to provide additional 200mm wafer fabrication capacity for analog products to accelerate the Company's growth initiatives in the automotive and industrial end markets. This US-based facility, together with the Company's existing wafer fabrication facilities in Asia and Europe, will further enhance the Company's global manufacturing operations. The Company recorded the purchase of SPFAB as a business combination. Total consideration paid by the Company was $ 80.4 million and was funded by existing cash and advances under the revolving portion of our U.S. Credit Agreement. The SPFAB facility and assets were wholly acquired, and there is no remaining minority interest. The goodwill is assigned to the standard semiconductor products segment and will not be tax deductible. The Company also incurred acquisition costs of approximately $ 0.5 million that were recognized in selling, general and administrative expense. The table below sets forth the fair value of the assets and liabilities recorded in the SPFAB acquisition and the corresponding line item in which the item is recorded in our condensed consolidated balance sheet. These estimates, judgments and assumptions are subject to change upon final valuation and should be treated as preliminary values. Assets Inventories $ 1,257 Prepaid expenses and other 257 Property, plant and equipment 77,115 Goodwill 1,779 Total assets purchased $ 80,408

Summary of Operations and Sig_2

Summary of Operations and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Operations	Summary of Operations Diodes Incorporated, together with its subsidiaries (collectively the “Company,” “we” or “our”(Nasdaq: DIOD)), a Standard and Poor's Smallcap 600 and Russell 3000 Index company, is a leading global manufacturer and supplier of high-quality application-specific standard products within the broad discrete, logic, analog, and mixed-signal semiconductor markets. The Company serves the consumer electronics, computing, communications, industrial, and automotive markets. The Company's products include diodes; rectifiers; transistors; MOSFETs; GPP bridges; GPP rectifiers; protection devices; function-specific arrays; single gate logic; amplifiers and comparators; Hall-effect and temperature sensors; and power management devices, including LED drivers, AC-DC converters and controllers, DC-DC switching and linear voltage regulators, voltage references along with special-function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers. The Company also has timing, connectivity, switching, and signal integrity solutions for high-speed signals. The Company's corporate headquarters and Americas’ sales offices are located in Plano, Texas, and Milpitas, California, respectively. Design, marketing, and engineering centers are located in Plano; Milpitas; Taipei, Taoyuan City, Zhubei City, Taiwan; Shanghai and Yangzhou, China; Oldham, England; and Neuhaus, Germany. The Company's wafer fabrication facilities are located in Oldham, England; Greenock, Scotland; Shanghai and Wuxi, China; and Keelung, Hsinchu, Taiwan and South Portland, Maine, United States. The Company has assembly and test facilities located in Shanghai, Jinan, Chengdu, and Wuxi, China; Neuhaus, Germany; and Jhongli and Keelung, Taiwan. Additional engineering, sales, warehouse, and logistics offices are located in Taipei, Taiwan; Hong Kong; Oldham, England; Shanghai, Shenzhen, Wuhan, and Yangzhou, China; Seongnam-si, South Korea; and Munich and Frankfurt, Germany; with support offices throughout the world. • The Company’s manufacturing facilities have achieved certifications in the internationally recognized standards of ISO 9001:2015, ISO 14001:2015, and, for automotive products, IATF 16949:2016; • Diodes Incorporated is also C-TPAT certified; and • We believe these quality awards reflect the superior quality-control techniques established at Diodes Incorporated and further enhance our credibility as a vendor-of-choice to original equipment manufacturers ("OEMs") increasingly concerned with quality and consistency. Our market focus is on high-growth, end-user applications in the following areas: • Automotive: connected driving, comfort/style/safety, and electrification/powertrain; • Industrial: embedded systems, precision controls, and Industrial IoT; • Consumer: IoT, wearables, home automation, and smart infrastructure; • Communications: smart phones, 5G networks, advanced protocols, and charging solutions; and • Computing: cloud computing including server, storage, and data center applications.
Basis of Presentation	Basis of Presentation The condensed consolidated financial data at December 31, 2021 are derived from audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on February 18, 2022 (“Form 10-K”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q. They do not include all information and footnotes necessary for a fair presentation of financial position, operating results and cash flows in conformity with GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in our Form 10-K. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the operating results for the period presented have been included in the interim period. Operating results for the three months and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for other interim periods or the year ending December 31, 2022. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. As permitted under GAAP, interim accounting for certain expenses, including income taxes, are based on full year forecasts. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates taking into consideration discrete items occurring in a quarter. Dollar amounts and share amounts are presented in thousands, except per share amounts, unless otherwise noted. Certain prior year’s balances may have been reclassified to conform to the current condensed consolidated financial statement presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2022, the Financial Accounting Standard Board ("FASB") issued Accounting Standards Update (“ASU”) 2022-02, Financial Instruments - Credit Losses (Topic 740): Troubled Debt Restructurings and Vintage Disclosures. This ASU among other things, updates accounting and disclosures for public business entities to disclose gross write-offs and gross recoveries by class of financing receivable and major security type in vintage disclosures. This guidance is effective for annual reporting periods beginning after December 15, 2022, including interim periods therein. We are assessing this guidance but do not anticipate it will have material impact on our consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities. Under the new guidance, the acquirer should determine what contract assets and/or contract liabilities it would have recorded under ASC 606 as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021 - 08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. The Company will continue evaluating the impact of this ASU. In November 2021, the FASB issued ASU No. 2021-10 Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance, which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new standard was effective for the Company on January 1, 2022 and only impacts annual financial statement footnote disclosures. The adoption will not have a material effect on our consolidated financial statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Earnings (numerator) Net income attributable to common stockholders $ 80,155 $ 55,374 $ 152,846 $ 94,826 Shares (denominator) Weighted average common shares outstanding (basic) 45,265 44,667 45,185 44,538 Dilutive effect of stock options and stock awards outstanding 576 713 728 789 Adjusted weighted average common shares outstanding (diluted) 45,841 45,380 45,913 45,327 Earnings per share attributable to common stockholders Basic $ 1.77 $ 1.24 $ 3.38 $ 2.13 Diluted $ 1.75 $ 1.22 $ 3.33 $ 2.09 Stock options and stock awards excluded from EPS 175 6 76 3

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory Current	The table below sets forth inventories which are stated at the lower of cost or net realizable value: June 30, 2022 December 31, 2021 Finished goods $ 100,501 $ 108,557 Work-in-progress 91,343 81,784 Raw materials 179,507 158,281 Total $ 371,351 $ 348,622

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The table below sets forth the changes in goodwill: Balance at December 31, 2021 $ 149,890 Acquisition $ 1,779 Foreign currency translation adjustment ( 5,771 ) Balance at June 30, 2022 $ 145,898
Schedule of Intangible Assets Other Than Goodwill	The table below sets forth the value of intangible assets, other than goodwill: June 30, December 31, 2022 2021 Intangible assets subject to amortization: Gross carrying amount $ 249,756 $ 247,695 Accumulated amortization ( 164,769 ) ( 156,927 ) Foreign currency translation adjustment ( 8,003 ) ( 7,582 ) Total 76,984 83,186 Intangible assets with indefinite lives: Gross carrying amount 10,303 12,364 Foreign currency translation adjustment ( 1,216 ) ( 1,000 ) Total 9,087 11,364 Total intangible assets, net $ 86,071 $ 94,550
Schedule of Amortization Expense Related to Intangible Assets	The table below sets forth amortization expense related to intangible assets subject to amortization: Amortization expense 2022 2021 Three Months Ended June 30, $ 3,980 $ 4,060 Six Months Ended June 30, $ 7,842 $ 8,083

Income Tax Provision (Tables)

Income Tax Provision (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Information Related to Income Tax Expense	The table below sets forth information related to our income tax expense: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Domestic pre-tax income $ 68,753 $ 18,577 $ 131,872 $ 25,645 Foreign pre-tax income $ 32,458 $ 52,169 $ 60,158 $ 95,088 Income tax provision $ 18,461 $ 12,120 $ 35,107 $ 21,554 Effective tax rate 18.2 % 17.1 % 18.3 % 17.9 % Impact of tax holidays on tax expense $ 1,334 $ ( 679 ) $ 1,291 $ ( 1,261 ) Earnings per share impact of tax holidays: Basic $ ( 0.03 ) $ 0.02 $ ( 0.03 ) $ 0.03 Diluted $ ( 0.03 ) $ 0.02 $ ( 0.03 ) $ 0.03

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Share-Based Compensation Expense	The table below sets forth information related to our share-based compensation expense: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Cost of goods sold $ 336 $ 282 $ 683 $ 557 Selling, general and administrative 7,246 7,627 13,780 12,659 Research and development 1,029 734 2,050 1,548 Total share-based compensation expense $ 8,611 $ 8,643 $ 16,513 $ 14,764

Enterprise Wide Segment Infor_2

Enterprise Wide Segment Information and Net Sales (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Net Sales from Based on Location of the Subsidiary	The tables below set forth net sales based on the location of the subsidiary producing the net sale: Three Months Ended June 30, 2022 Asia Americas Europe Consolidated Total sales $ 464,154 $ 313,884 $ 86,399 $ 864,437 Intercompany elimination ( 166,656 ) ( 166,594 ) ( 30,215 ) ( 363,465 ) Net sales $ 297,498 $ 147,290 $ 56,184 $ 500,972 Three Months Ended June 30, 2021 Asia Americas Europe Consolidated Total sales $ 483,083 $ 261,725 $ 67,598 $ 812,406 Intercompany elimination ( 176,404 ) ( 167,318 ) ( 28,236 ) ( 371,958 ) Net sales $ 306,679 $ 94,407 $ 39,362 $ 440,448 As of and for the Six Months Ended June 30, 2022 Asia Americas Europe Consolidated Total sales $ 915,039 $ 607,654 $ 164,456 $ 1,687,149 Intercompany elimination ( 323,819 ) ( 324,171 ) ( 56,064 ) ( 704,054 ) Net sales $ 591,220 $ 283,483 $ 108,392 $ 983,095 Property, plant and equipment, net $ 472,923 $ 100,092 $ 98,639 $ 671,654 Total assets $ 1,627,631 $ 424,489 $ 232,924 $ 2,285,044 As of and for the Six Months Ended June 30, 2021 Asia Americas Europe Consolidated Total sales $ 954,152 $ 508,552 $ 127,772 $ 1,590,476 Intercompany elimination ( 355,354 ) ( 328,147 ) ( 53,406 ) ( 736,907 ) Net sales $ 598,798 $ 180,405 $ 74,366 $ 853,569 Property, plant and equipment, net $ 412,421 $ 25,044 $ 84,717 $ 522,182 Total assets $ 1,423,099 $ 350,339 $ 219,531 $ 1,992,969
Schedule of Net Sales by Direct Sales or Distributor and Location	The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment and by type (direct sales or Distributor ): Three Months Ended Net Sales by Region 2022 2021 Asia $ 372,055 $ 353,312 Europe 68,032 54,056 Americas 60,885 33,080 Total net sales $ 500,972 $ 440,448 Net Sales by Type Direct sales $ 147,249 $ 151,048 Distributor sales 353,723 289,400 Total net sales $ 500,972 $ 440,448 Six Months Ended Net Sales by Region 2022 2021 Asia $ 736,871 $ 687,937 Europe 132,803 102,442 Americas 113,421 63,190 Total net sales $ 983,095 $ 853,569 Net Sales by Type Direct sales $ 295,667 $ 298,939 Distributor sales 687,428 554,630 Total net sales $ 983,095 $ 853,569

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings outstanding as of June 30, 2022 and December 31, 2021, are set forth in the table below: June 30, December 31, Current Amount Description 2022 2021 Interest Rate Maturity Short-term debt $ 25,907 $ 18,068 Various indices plus margin Various during 2022 Long-term debt Term loan and revolver $ 93,560 $ 155,122 Libor plus margin May 2024 Notes payable to Bank of Taiwan 2,225 2,492 Variable, 1.3% base June 2033 Notes payable to Bank of Taiwan 1,682 1,807 2-yr deposit rate floating September 2023 Notes payable to Bank of China Trust Company 14,678 16,168 Taibor 3 month rate + 0.5% May 2024 Notes payable to Bank of China Trust Company 3,365 3,614 Taibor 3 month rate + 0.5% December 2023 Notes payable to E Sun Bank 3,365 3,614 1-M deposit rate plus 0.08% December 2023 Notes payable to E Sun Bank 315 371 1-M deposit rate plus 0.08% June 2027 Notes payable to E Sun Bank 1,649 1,771 1-M deposit rate plus 0.08% June 2030 Notes payable to HSBC 100,000 100,000 Libor plus margin January 2024 Notes payable to HSBC 20,000 - Libor plus margin December 2023 Total long-term debt 240,839 284,959 Less: Current portion of long-term debt ( 9,336 ) ( 17,381 ) Less: Unamortized debt costs ( 1,591 ) ( 2,004 ) Total long-term debt, net of current portion $ 229,912 $ 265,574

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Interest Rate Related Derivative Financial Instruments and Their Classification on Our Condensed Consolidated Balance Sheets	The table below sets forth the fair value of the Company’s currency swap related derivative financial instruments as well as their classification on our condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021: Other Assets Other Liabilities 2022 2021 2022 2021 Currency Swaps $ 7,092 $ - $ 3,392 $ 1,330

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Components of Lease Expense	The components of lease expense are set forth in the table below: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Operating lease expense $ 3,349 $ 4,149 $ 6,859 $ 8,384 Finance lease expense: Amortization of assets 3 2 5 213 Interest on lease liabilities – – – 1 Short-term lease expense 256 246 526 491 Variable lease expense 862 1,161 1,837 2,290 Total lease expense $ 4,470 $ 5,558 $ 9,227 $ 11,379
Supplemental Balance Sheet Information Related to Leases	The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion: June 30, 2022 December 31, 2021 Operating leases: Operating lease ROU assets $ 44,365 $ 49,703 Current operating lease liabilities 9,062 11,199 Noncurrent operating lease liabilities 19,160 22,291 Total operating lease liabilities $ 28,222 $ 33,490 Finance leases: Finance lease ROU assets $ 2,557 $ 2,561 Accumulated amortization ( 2,534 ) ( 2,524 ) Finance lease ROU assets, net $ 23 $ 37 Current finance lease liabilities $ 9 $ 15 Non-current finance lease liabilities 13 23 Total finance lease liabilities $ 22 $ 38 Weighted average remaining lease term (in years): Operating leases 7.1 6.9 Finance leases 2.1 2.3 Weighted average discount rate: Operating leases 4.0 % 4.0 % Finance leases 3.7 % 3.7 %
Supplemental Cash Flow and Other Information Related to Leases	The table below sets forth supplemental cash flow and other information related to leases: Six Months Ended June 30, 2022 June 30, 2021 Cash paid for the amounts included in the measurements of lease liabilities: Operating cash outflows from operating leases $ 9,494 $ 10,973 Operating cash outflows from finance leases – 1 Financing cash outflow from finance leases 12 151 ROU assets obtained in exchange for lease liabilities incurred: Operating leases 2,186 12,265
Schedule of Operating and Finance Lease Liability Maturities	The table below sets forth information about lease liability maturities: June 30, 2022 Operating Leases Finance Leases 2022 $ 6,020 $ 10 2023 7,522 8 2024 4,734 4 2025 4,139 1 2026 2,711 - 2027 657 - 2028 and thereafter 7,873 - Total lease payments 33,656 23 Less: imputed interest ( 5,434 ) ( 1 ) Total lease obligations 28,222 22 Less: current obligations ( 9,062 ) ( 9 ) Long-term lease obligations $ 19,160 $ 13

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Net Sales and Purchases of Related Party Transactions	The table below set forth the net sales, purchases and expenses with our related parties for the three months and six months ended June 30: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Keylink: Net sales $ 4,149 $ 4,333 $ 9,915 $ 9,899 Purchases $ 506 $ 501 $ 928 $ 980 Plating, rental and consulting expense $ 4,418 $ 4,341 $ 8,965 $ 8,656 Nuvoton: Net sales $ 8 $ - $ 43 $ - Purchases $ 4,094 $ 2,288 $ 7,160 $ 3,695 JCP: Purchases $ 157 $ 328 $ 370 $ 687
Schedule of Account Receivable and Payable of Related Party Transactions	The table below sets forth accounts receivable from, and accounts payable to, related parties: June 30, 2022 December 31, 2021 Keylink: Accounts receivable $ 47,373 $ 39,530 Accounts payable $ 45,132 $ 36,090 Nuvoton: Accounts receivable $ 9 $ - Accounts payable $ 2,328 $ 2,014 JCP: Accounts payable $ 152 $ 235

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2022
Summary of Fair Value of Assets and Liabilities Related to Acquisition Recorded in Condensed Consolidated Balance Sheet	The table below sets forth the fair value of the assets and liabilities recorded in the SPFAB acquisition and the corresponding line item in which the item is recorded in our condensed consolidated balance sheet. Assets Inventories $ 1,257 Prepaid expenses and other 257 Property, plant and equipment 77,115 Goodwill 1,779 Total assets purchased $ 80,408

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings per share reconciliation disclosure			Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive.
Common stock dividends paid	$ 0	$ 0	$ 0	$ 0

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings (numerator)
Net income attributable to common stockholders	$ 80,155	$ 55,374	$ 152,846	$ 94,826
Shares (denominator)
Weighted average common shares outstanding (basic)	45,265,000	44,667,000	45,185,000	44,538,000
Dilutive effect of stock options and stock awards outstanding	576,000	713,000	728,000	789,000
Adjusted weighted average common shares outstanding (diluted)	45,841,000	45,380,000	45,913,000	45,327,000
Earnings Per Shares, Basic and Diluted [Abstract]
Basic	$ 1.77	$ 1.24	$ 3.38	$ 2.13
Diluted	$ 1.75	$ 1.22	$ 3.33	$ 2.09
Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive	175	6	76	3

Inventories - Schedule of Inven

Inventories - Schedule of Inventory Current (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 100,501	$ 108,557
Work-in-progress	91,343	81,784
Raw materials	179,507	158,281
Total	$ 371,351	$ 348,622

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill
Goodwill beginning balance	$ 149,890
Acquisitions	(1,779)
Foreign currency translation adjustment	(5,771)
Goodwill ending balance	$ 145,898

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Intangible assets subject to amortization
Gross carrying amount	$ 249,756	$ 247,695
Accumulated amortization	(164,769)	(156,927)
Foreign currency translation adjustment	(8,003)	(7,582)
Total	76,984	83,186
Intangible assets with indefinite lives
Gross carrying amount	10,303	12,364
Foreign currency translation adjustment	(1,216)	(1,000)
Total	9,087	11,364
Total intangible assets, net	$ 86,071	$ 94,550

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 3,980	$ 4,060	$ 7,842	$ 8,083

Income Tax Provision - Schedule

Income Tax Provision - Schedule of Information Related to Income Tax Expense (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Domestic pre-tax income	$ 68,753	$ 18,577	$ 131,872	$ 25,645
Foreign pre-tax income	32,458	52,169	60,158	95,088
Income tax provision	$ 18,461	$ 12,120	$ 35,107	$ 21,554
Effective tax rate	18.20%	17.10%	18.30%	17.90%
Impact of tax holidays on tax expense	$ 1,334	$ (679)	$ 1,291	$ (1,261)
Earnings per share impact of tax holidays:
Basic	$ (0.03)	$ 0.02	$ (0.03)	$ 0.03
Diluted	$ (0.03)	$ 0.02	$ (0.03)	$ 0.03

Income Tax Provision - Addition

Income Tax Provision - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 45.9
Income tax examination, description	We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. We are no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2013, or for the 2015 tax year. We are no longer subject to China income tax examinations by tax authorities for tax years before 2011. With respect to state and local jurisdictions and countries outside of the U.S. (other than China), with limited exceptions, the Company is no longer subject to income tax audits for years before 2016. Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest and penalties, if any, have been provided for in the Company’s reserve for any adjustments that may result from currently pending tax audits. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in interest expense.
Significant change in unrecognized tax benefits, nature of event	It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions will significantly increase or decrease within the next 12 months.
Significant change in unrecognized tax benefits is reasonably possible, estimated range not possible	At this time, an estimate of the range of the reasonably possible outcomes cannot be made.

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expense	$ 8,611	$ 8,643	$ 16,513	$ 14,764
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition			2 years 1 month 6 days
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	64,300		$ 64,300
Savitech
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expense	$ 10	$ 20	$ 20	$ 40

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 8,611	$ 8,643	$ 16,513	$ 14,764
Cost of Goods Sold
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	336	282	683	557
Selling, General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	7,246	7,627	13,780	12,659
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 1,029	$ 734	$ 2,050	$ 1,548

Enterprise Wide Segment Infor_3

Enterprise Wide Segment Information and Net Sales - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Customer	Jun. 30, 2021 USD ($)
Entity Wide Revenue Major Customer [Line Items]
Number of customer did not account for 10% or greater of outstanding accounts receivable | Customer			0
Net sales	$ 500,972	$ 440,448	$ 983,095	$ 853,569
China
Entity Wide Revenue Major Customer [Line Items]
Net sales	$ 240,600	$ 229,300	$ 471,000	$ 451,700
Sales Revenue | Geographic Concentration Risk | Accounts Receivable
Entity Wide Revenue Major Customer [Line Items]
Concentration Risk, Percentage			10%

Enterprise Wide Segment Infor_4

Enterprise Wide Segment Information and Net Sales - Schedule of Net Sales From Based on Location of the Subsidiary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 500,972	$ 440,448	$ 983,095	$ 853,569
Property, plant and equipment, net	671,654	522,182	671,654	522,182	$ 582,079
Total assets	2,285,044	1,992,969	2,285,044	1,992,969	$ 2,194,495
Operating Segments
Segment Reporting Information [Line Items]
Net sales	864,437	812,406	1,687,149	1,590,476
Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	(363,465)	(371,958)	(704,054)	(736,907)
Asia
Segment Reporting Information [Line Items]
Net sales	297,498	306,679	591,220	598,798
Property, plant and equipment, net	472,923	412,421	472,923	412,421
Total assets	1,627,631	1,423,099	1,627,631	1,423,099
Asia | Operating Segments
Segment Reporting Information [Line Items]
Net sales	464,154	483,083	915,039	954,152
Asia | Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	(166,656)	(176,404)	(323,819)	(355,354)
Americas
Segment Reporting Information [Line Items]
Net sales	147,290	94,407	283,483	180,405
Property, plant and equipment, net	100,092	25,044	100,092	25,044
Total assets	424,489	350,339	424,489	350,339
Americas | Operating Segments
Segment Reporting Information [Line Items]
Net sales	313,884	261,725	607,654	508,552
Americas | Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	(166,594)	(167,318)	(324,171)	(328,147)
Europe
Segment Reporting Information [Line Items]
Net sales	56,184	39,362	108,392	74,366
Property, plant and equipment, net	98,639	84,717	98,639	84,717
Total assets	232,924	219,531	232,924	219,531
Europe | Operating Segments
Segment Reporting Information [Line Items]
Net sales	86,399	67,598	164,456	127,772
Europe | Intercompany Eliminations
Segment Reporting Information [Line Items]
Net sales	$ (30,215)	$ (28,236)	$ (56,064)	$ (53,406)

Enterprise Wide Segment Infor_5

Enterprise Wide Segment Information and Net Sales - Schedule of Net Sales by Direct Sales or Distributor and Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	$ 500,972	$ 440,448	$ 983,095	$ 853,569
Direct Sales
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	147,249	151,048	295,667	298,939
Distributor Sales
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	353,723	289,400	687,428	554,630
Asia
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	372,055	353,312	736,871	687,937
Europe
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	68,032	54,056	132,803	102,442
Americas
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	$ 60,885	$ 33,080	$ 113,421	$ 63,190

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Line Of Credit Facility [Line Items]
Line of credit drawn	$ 45,214	$ 6,404
Lines of credit unused and available	175,100
Line of credit facility advanced under foreign credit line	25,900
Line of Credit Facility Credit Used For Guarantee	900
Term Commitment
Line Of Credit Facility [Line Items]
Lines of credit maximum borrowing capacity	63,600
Revolver
Line Of Credit Facility [Line Items]
Lines of credit maximum borrowing capacity	200,000
Line of credit drawn		$ 30,000
Unsecured
Line Of Credit Facility [Line Items]
Lines of credit maximum borrowing capacity	$ 201,800

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 240,839	$ 284,959
Less: Current portion of long-term debt	(9,336)	(17,381)
Less: Unamortized debt costs	(1,591)	(2,004)
Long-term debt, net of current portion	229,912	265,574
Various During Two Thousand And Twenty Two [Member]
Debt Instrument [Line Items]
Short-term debt	$ 25,907	18,068
Short-term debt, Interest Rate	Various indices plus margin
Notes Payable to Bank | Bank of Taiwan | June 2033
Debt Instrument [Line Items]
Total long-term debt	$ 2,225	2,492
Long-term debt, Interest Rate	Variable, 1.3% base
Notes Payable to Bank | Bank of Taiwan | September 2023
Debt Instrument [Line Items]
Total long-term debt	$ 1,682	1,807
Long-term debt, Interest Rate	2-yr deposit rate floating
Notes Payable to Bank | China Trust Bank | May 2024
Debt Instrument [Line Items]
Total long-term debt	$ 14,678	16,168
Long-term debt, Interest Rate	Taibor 3 month rate + 0.5%
Notes Payable to Bank | China Trust Bank | December 2023
Debt Instrument [Line Items]
Total long-term debt	$ 3,365	3,614
Long-term debt, Interest Rate	Taibor 3 month rate + 0.5%
Notes Payable to Bank | E Sun Bank | December 2023
Debt Instrument [Line Items]
Total long-term debt	$ 3,365	3,614
Long-term debt, Interest Rate	1-M deposit rate plus 0.08%
Notes Payable to Bank | E Sun Bank | June 2027
Debt Instrument [Line Items]
Total long-term debt	$ 315	371
Long-term debt, Interest Rate	1-M deposit rate plus 0.08%
Notes Payable to Bank | E Sun Bank | June 2030
Debt Instrument [Line Items]
Total long-term debt	$ 1,649	1,771
Long-term debt, Interest Rate	1-M deposit rate plus 0.08%
Notes Payable to Bank | HSBC | December 2023
Debt Instrument [Line Items]
Total long-term debt	$ 20,000	0
Long-term debt, Interest Rate	Libor plus margin
Notes Payable to Bank | HSBC | January 2024
Debt Instrument [Line Items]
Total long-term debt	$ 100,000	100,000
Long-term debt, Interest Rate	Libor plus margin
Term Loan and Revolver | May 2024
Debt Instrument [Line Items]
Total long-term debt	$ 93,560	$ 155,122
Long-term debt, Interest Rate	Libor plus margin

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) £ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) £ / $	Jun. 30, 2022 GBP (£) £ / $	Mar. 31, 2021 USD ($) £ / $	Mar. 31, 2021 GBP (£) £ / $
Commitments and Contingencies Disclosure [Abstract]
Purchase Commitments	$ 124.1
Long-term purchase commitment, Amount	$ 195.8
Defined benefit plan, estimated future employer contributions in current fiscal year, description	We have a contributory defined benefit plan that covers certain employees in the United Kingdom. As of June 30, 2022, the underfunded liability for this defined benefit plan was approximately $4.4 million. We have agreed to a schedule of contributions of GBP 2.0 million (approximately $2.4 million based on a GBP: USD exchange rate of 1.2:1) to be paid in annual installments that began on March 31, 2021, and payments to be made by December 31 each year thereafter). These contributions, together with the assumed asset performance, are expected to eliminate the deficit by December 31, 2028. Further, we will pay GBP 0.2 million (approximately $0.2 million based on GBP: USD exchange rate oat 1.2:1) in annual installments to cover expenses.
Defined benefit plan, annual future benefit payments			$ 2.4	£ 2
Defined benefit plan, additional annual future benefit payments	$ 0.2	£ 0.2
GBP:USD exchange rate | $ / GBP | £ / $	1.2	1.2	1.2	1.2
Unfunded liability of defined benefit plan	$ 4.4

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Objectives for using derivative instruments	The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps, including interest rate collars, as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company makes use of cross currency swaps to decrease the foreign exchange risk inherent in the Company’s investment in some of its foreign subsidiaries.
Foreign Currency Forward Contracts
Derivative [Line Items]
Fair value of foreign currency derivative instruments not designated as hedging	$ 240.1	$ 195.2

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Value of Interest Rate Related Derivative Financial Instruments and Their Classification on Our Condensed Consolidated Balance Sheets (Details) - Currency Swaps - Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Current Assets
Derivative [Line Items]
Derivative Asset	$ 7,092	$ 0
Other Current Liabilities
Derivative [Line Items]
Derivative Liability	$ 3,392	$ 1,330

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease expense	$ 3,349	$ 4,149	$ 6,859	$ 8,384
Finance lease expense:
Amortization of assets	3	2	5	213
Interest on lease liabilities	0	0	0	1
Short-term lease expense	256	246	526	491
Variable lease expense	862	1,161	1,837	2,290
Total lease expense	$ 4,470	$ 5,558	$ 9,227	$ 11,379

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Operating leases:
Operating lease ROU assets	$ 44,365	$ 49,703
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Current operating lease liabilities	$ 9,062	$ 11,199
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Noncurrent operating lease liabilities	$ 19,160	$ 22,291
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total operating lease liabilities	$ 28,222	$ 33,490
Finance leases:
Finance lease ROU assets	$ 2,557	$ 2,561
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Accumulated amortization	$ (2,534)	$ (2,524)
Finance lease ROU assets, net	23	37
Current finance lease liabilities	$ 9	$ 15
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Non-current finance lease liabilities	$ 13	$ 23
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total finance lease liabilities	$ 22	$ 38
Weighted average remaining lease term (in years):
Operating leases	7 years 1 month 6 days	6 years 10 months 24 days
Finance leases	2 years 1 month 6 days	2 years 3 months 18 days
Weighted average discount rate:
Operating leases	4%	4%
Finance leases	3.70%	3.70%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$ 9,494	$ 10,973
Operating cash outflows from finance leases	0	1
Financing cash outflow from finance leases	12	151
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases	$ 2,186	$ 12,265

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Lease Liability Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Leases, 2022	$ 6,020
Operating Leases, 2023	7,522
Operating Leases, 2024	4,734
Operating Leases, 2025	4,139
Operating Leases, 2026	2,711
Operating Leases, 2027	657
Operating Leases, 2028 and thereafter	7,873
Operating Leases, Total lease payments	33,656
Operating Leases, Less: imputed interest	(5,434)
Total operating lease liabilities	28,222	$ 33,490
Operating Leases, Less: current obligations	(9,062)	(11,199)
Noncurrent operating lease liabilities	19,160	22,291
Finance Leases, 2022	10
Finance Leases, 2023	8
Finance Leases, 2024	4
Finance Leases, 2025	1
Finance Leases, 2026	0
Finance Leases, 2027	0
Finance Leases, 2028 and thereafter	0
Finance Leases, Total lease payments	23
Finance Leases, Less: imputed interest	(1)
Total finance lease liabilities	22	38
Finance Leases, Less: current obligations	(9)	(15)
Non-current finance lease liabilities	$ 13	$ 23

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - Deferred Compensation Plan - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation arrangements, overall, description	We maintain a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors. The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. We offset our obligations under the Deferred Compensation Plan primarily by investing in the actual underlying investments. At June 30, 2022 and December 31, 2021, these investments totaled approximately $12.4 million and $15.5 million, respectively.
Deferred compensation plan assets	$ 12.4	$ 15.5

Related Parties - Additional In

Related Parties - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Keylink
Related Party Transaction [Line Items]
Related Party ownership of common stock	5%
Related Party Transaction, Description of Transaction	Keylink is a 5% joint venture partner in our Shanghai assembly and test facilities.
Nuvoton
Related Party Transaction [Line Items]
Agreement to purchase with related party	$ 41.2

Related Parties - Schedule of N

Related Parties - Schedule of Net Sales and Purchases of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Nuvoton
Related Party Transaction [Line Items]
Net sales from related parties	$ 8		$ 43
Purchases from related parties	4,094	2,288	7,160	3,695
Keylink
Related Party Transaction [Line Items]
Net sales from related parties	4,149	4,333	9,915	9,899
Purchases from related parties	506	501	928	980
Plating, rental and consulting expense	4,418	4,341	8,965	8,656
JCP
Related Party Transaction [Line Items]
Purchases from related parties	$ 157	$ 328	$ 370	$ 687

Related Parties - Schedule of A

Related Parties - Schedule of Account Receivable and Payable of Related Party Transactions (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Nuvoton
Related Party Transaction [Line Items]
Accounts receivable	$ 9	$ 0
Accounts payable	2,328	2,014
Keylink
Related Party Transaction [Line Items]
Accounts receivable	47,373	39,530
Accounts payable	45,132	36,090
JCP
Related Party Transaction [Line Items]
Accounts payable	$ 152	$ 235

Equity Investments - Additional

Equity Investments - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Upward fair value adjustments	$ 3.9

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Details) - South Portland Facility $ in Millions	Jun. 03, 2022 USD ($)
Business Acquisition [Line Items]
Total consideration paid	$ 80.4
Selling, General and Administrative Expense
Business Acquisition [Line Items]
Acquisition costs	$ 0.5

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Summary of Fair Value of Assets and Liabilities Related to Acquisition Recorded in Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 03, 2022	Dec. 31, 2021
Business Combinations [Abstract]
Inventories		$ 1,257,000
Prepaid expenses and other		257,000
Property, plant and equipment		77,115,000
Goodwill	$ 145,898	1,779,000	$ 149,890
Total assets purchased		$ 80,408,000