Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Feb. 24, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document type | '10-K | ' | ' |
Document period end date | 31-Dec-13 | ' | ' |
Amendment flag | 'false | ' | ' |
Entity registrant name | 'DIODES INC /DEL/ | ' | ' |
Entity central index key | '0000029002 | ' | ' |
Entity current reporting status | 'Yes | ' | ' |
Entity voluntary filers | 'No | ' | ' |
Current fiscal year end date | '--12-31 | ' | ' |
Entity filer category | 'Large Accelerated Filer | ' | ' |
Entity well known seasoned issuer | 'Yes | ' | ' |
Entity common stock shares outstanding | ' | 46,700,123 | ' |
Entity public float | ' | ' | $962,308,507 |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $196,635 | $157,121 |
Short-term investments | 22,922 | 0 |
Accounts receivable, net | 192,267 | 152,073 |
Inventories | 180,396 | 153,293 |
Deferred income taxes, current | 10,513 | 9,995 |
Prepaid expenses and other | 47,352 | 18,928 |
Total current assets | 650,085 | 491,410 |
PROPERTY, PLANT AND EQUIPMENT, net | 322,013 | 243,296 |
DEFERRED INCOME TAXES, non-current | 28,237 | 36,819 |
OTHER ASSETS | ' | ' |
Goodwill | 84,714 | 87,359 |
Intangible assets, net | 53,571 | 44,337 |
Other | 23,638 | 16,842 |
Total assets | 1,162,258 | 920,063 |
CURRENT LIABILITIES | ' | ' |
Lines of credit and short-term debt | 5,814 | 7,629 |
Accounts payable | 89,212 | 64,072 |
Accrued liabilities | 60,684 | 41,139 |
Income tax payable | 1,206 | 678 |
Total current liabilities | 156,916 | 113,518 |
LONG-TERM DEBT, net of current portion | 182,799 | 44,131 |
OTHER LONG-TERM LIABILITIES | 78,866 | 41,974 |
Total liabilities | 418,581 | 199,623 |
Diodes Incorporated 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; 46,680,973 and 46,010,815 issued and outstanding at December 31, 2013 and 2012, respectively | 31,120 | 30,674 |
Additional paid-in capital | 289,668 | 280,571 |
Retained earnings | 426,328 | 399,796 |
Accumulated other comprehensive loss | -44,374 | -33,856 |
Total Diodes Incorporated stockholders' equity | 702,742 | 677,185 |
Noncontrolling interest | 40,935 | 43,255 |
Total equity | 743,677 | 720,440 |
Total liabilities and equity | $1,162,258 | $920,063 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
BALANCE SHEETS-TITLE | ' | ' |
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 | $0.67 | $0.67 |
Common stock shares authorized | 70,000,000 | 70,000,000 |
Common stock shares issued | 46,680,973 | 46,010,815 |
Common Stock Shares Outstanding | 46,680,973 | 46,010,815 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement Abstract | ' | ' | ' |
NET SALES | $826,846 | $633,806 | $635,251 |
COST OF GOODS SOLD | 589,010 | 472,220 | 441,554 |
Gross profit | 237,836 | 161,586 | 193,697 |
OPERATING EXPENSES | ' | ' | ' |
Selling, general and administrative | 132,106 | 101,363 | 89,974 |
Research and development | 48,302 | 33,761 | 27,231 |
Amortization of acquisition related intangible assets | 8,078 | 5,122 | 4,503 |
Impairment of goodwill | 5,318 | 0 | 0 |
Restructuring | 1,535 | 0 | 0 |
Loss (gain) on sale of assets | 216 | -3,556 | 0 |
Total operating expenses | 195,555 | 136,690 | 121,708 |
Income from operations | 42,281 | 24,896 | 71,989 |
OTHER INCOME (EXPENSES) | ' | ' | ' |
Interest income | 1,274 | 778 | 1,024 |
Interest expense | -5,580 | -876 | -3,139 |
Amortization of debt discount | 0 | 0 | -6,032 |
Loss (gain) on securities carried at fair value | 601 | 7,100 | -1,039 |
Other | 9 | -1,091 | 861 |
Total other income (expenses) | -3,696 | 5,911 | -8,325 |
Income before income taxes and noncontrolling interest | 38,585 | 30,807 | 63,664 |
INCOME TAX PROVISION | 14,481 | 4,825 | 10,157 |
NET INCOME | 24,104 | 25,982 | 53,507 |
Less: NET (INCOME) LOSS attributable to noncontrolling interest | 2,428 | -1,830 | -2,770 |
NET INCOME attributable to common stockholders | $26,532 | $24,152 | $50,737 |
EARNINGS PER SHARE attributable to common stockholders | ' | ' | ' |
Basic | $0.57 | $0.53 | $1.12 |
Diluted | $0.56 | $0.51 | $1.09 |
Number of shares used in computation | ' | ' | ' |
Basic | 46,363 | 45,780 | 45,202 |
Diluted | 47,658 | 46,899 | 46,713 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Total Comprehensive Income summary | ' | ' | ' |
Net Income | $24,104 | $25,982 | $53,507 |
Translation adjustments | 6,453 | 7,317 | -690 |
Unrealized gain (loss) on defined benefit plan, net of tax | -16,971 | -5,411 | 10,008 |
Total comprehensive income | 13,586 | 27,888 | 62,825 |
Less: NET (INCOME) LOSS attributable to noncontrolling interest | 2,428 | -1,830 | -2,770 |
Total comprehensive income attributable to common stockholders | $16,014 | $26,058 | $60,055 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Total | Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive gain (loss) | Total Diodes Incorporated Stockholders' equity | Noncontrolling interest |
In Thousands, except Share data | |||||||
BALANCE at Dec. 31, 2010 | $552,892 | $29,775 | $231,842 | $324,907 | ($45,080) | $541,444 | $11,448 |
Common stock shares beginning at Dec. 31, 2010 | ' | 44,663,000 | ' | ' | ' | ' | ' |
Total comprehensive income | 62,825 | ' | ' | 50,737 | 9,318 | 60,055 | 2,770 |
Dividend to noncontrolling interest | 737 | ' | ' | ' | ' | ' | 737 |
Common stock issued for share-based plans | 3,534 | 648 | 2,886 | ' | ' | 3,534 | ' |
Stock issued during period shares share based compensation | ' | 769,000 | ' | ' | ' | ' | ' |
Excess tax benefit from share-based compensation | 15,024 | ' | 15,024 | ' | ' | 15,024 | ' |
Share-based compensation | 13,703 | ' | 13,703 | ' | ' | 13,703 | ' |
BALANCE at Dec. 31, 2011 | 648,715 | 30,423 | 263,455 | 375,644 | -35,762 | 633,760 | 14,955 |
Common stock shares ending at Dec. 31, 2011 | ' | 45,432,000 | ' | ' | ' | ' | ' |
Total comprehensive income | 27,888 | ' | ' | 24,152 | 1,906 | 26,058 | 1,830 |
Acquisition of noncontrolling interest | 26,470 | ' | ' | ' | ' | ' | 26,470 |
Common stock issued for share-based plans | 1,325 | 251 | 1,074 | ' | ' | 1,325 | ' |
Stock issued during period shares share based compensation | ' | 579,000 | ' | ' | ' | ' | ' |
Excess tax benefit from share-based compensation | 1,644 | ' | 1,644 | ' | ' | 1,644 | ' |
Share-based compensation | 14,398 | ' | 14,398 | ' | ' | 14,398 | ' |
BALANCE at Dec. 31, 2012 | 720,440 | 30,674 | 280,571 | 399,796 | -33,856 | 677,185 | 43,255 |
Common stock shares ending at Dec. 31, 2012 | 46,010,815 | 46,011,000 | ' | ' | ' | ' | ' |
Total comprehensive income | 13,586 | ' | ' | 26,532 | -10,518 | 16,014 | -2,428 |
Acquisition of noncontrolling interest | 108 | ' | ' | ' | ' | ' | 108 |
Common stock issued for share-based plans | 2,635 | 446 | 2,189 | ' | ' | 2,635 | ' |
Stock issued during period shares share based compensation | ' | 670,000 | ' | ' | ' | ' | ' |
Excess tax benefit from share-based compensation | -6,643 | ' | -6,643 | ' | ' | -6,643 | ' |
Share-based compensation | 13,551 | ' | 13,551 | ' | ' | 13,551 | ' |
BALANCE at Dec. 31, 2013 | $743,677 | $31,120 | $289,668 | $426,328 | ($44,374) | $702,742 | $40,935 |
Common stock shares ending at Dec. 31, 2013 | 46,680,973 | 46,681,000 | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net income | $24,104 | $25,982 | $53,507 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 65,529 | 59,063 | 56,927 |
Amortization of Intangible Assets | 8,078 | 5,130 | 4,511 |
Impairment of goodwill | 5,318 | 0 | 0 |
Amortization of convertible senior notes issuance costs | 0 | 0 | 412 |
Amortization of discount on convertible senior notes | 0 | 0 | 6,032 |
Share-based compensation | 13,551 | 14,398 | 13,703 |
Excess tax benefit from share-based compensation | 6,643 | -1,644 | -15,024 |
Loss (gain) on disposal of property, plant and equipment | 270 | -3,554 | 31 |
Loss (gain) on securities carried at fair value | -601 | -7,100 | 1,039 |
Deferred income taxes | -1,959 | -13,051 | -21,916 |
Other | 3,069 | -334 | -297 |
Changes in operating assets: | ' | ' | ' |
Accounts receivable | -18,241 | -6,360 | -4,406 |
Inventories | 14,860 | -5,492 | -20,187 |
Prepaid expenses and other current assets | -3,803 | 3,162 | -7,483 |
Changes in operating liabilities: | ' | ' | ' |
Accounts payable | -8,594 | -7,440 | -3,584 |
Accrued liabilities | 171 | 2,257 | -8,513 |
Other liabilities | 1,957 | -4,179 | 3,069 |
Income taxes payable | -461 | 3,378 | 3,829 |
Net cash provided by operating activities | 109,891 | 64,216 | 61,650 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Acquisitions, net of cash acquired | -124,916 | -20,048 | 0 |
Decrease in restricted cash | 6,886 | 0 | 0 |
Purchase of short-term investments | -22,922 | 0 | 0 |
Purchases of equity securities | -5,393 | -3,413 | -14,117 |
Proceeds from sale of equity securities | 7,458 | 0 | 0 |
Purchases of property, plant and equipment | -47,054 | -58,166 | -80,941 |
Proceeds from sales of property, plant and equipment | 59 | 1,969 | 40 |
Proceeds from sales of intangibles | 0 | 2,122 | 0 |
Other | -520 | 117 | -3,294 |
Net cash used by investing activities | -186,402 | -77,419 | -98,312 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Advance on lines of credit and short term debt | 15,101 | 3,659 | 8,000 |
Repayments on lines of credit and short-term debt | -34,573 | -9,556 | 0 |
Net proceeds from the issuance of common stock | 2,635 | 1,318 | 3,526 |
Excess tax benefit from share-based compensation | -6,643 | 1,644 | 15,024 |
Proceeds from long-term debt | 181,000 | 71,720 | 0 |
Repayments of long-term debt | -42,145 | -30,445 | -134,706 |
Repayments of capital lease obligations | -627 | -295 | -285 |
Other | -2,387 | 502 | 728 |
Net cash provided by (used by) financing activities | 112,361 | 38,547 | -107,713 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 3,664 | 2,267 | 2,984 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 39,514 | 27,611 | -141,391 |
CASH AND CASH EQUIVALENTS, beginning of year | 157,121 | 129,510 | 270,901 |
CASH AND CASH EQUIVALENTS, end of year | 196,635 | 157,121 | 129,510 |
Cash paid during the year for: | ' | ' | ' |
Interest | 4,373 | 914 | 3,322 |
Income taxes | 10,396 | 17,086 | 12,118 |
Non-cash activities: | ' | ' | ' |
Property, plant and equipment purchased on accounts payable | 2,714 | -1,957 | -1,934 |
Acquisition: | ' | ' | ' |
Fair value of assets acquired | 247,012 | 76,438 | 0 |
Liability assumed | -92,277 | -13,924 | 0 |
Cash acquired | -29,819 | 6,108 | 0 |
Net assets acquired | $124,916 | $68,622 | $0 |
Summary_of_Operations_and_Sign
Summary of Operations and Significant Accounting Policies | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | ' | |||||||||
NOTE 1 – SUMMARY OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Nature of operations – Diodes Incorporated and its subsidiaries (collectively, the “Company”) is a leading global manufacturer and supplier of high-quality, application specific standard products within the broad discrete, logic and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. These products include diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors, power management devices including LED drivers, DC-DC switching and linear voltage regulators and voltage references along with special function devices including USB power switches, load switches, voltage supervisors and motor controllers. The products are sold primarily throughout Asia, North America and Europe. | ||||||||||
Principles of consolidation – The consolidated financial statements include the accounts of Diodes Incorporated, its wholly-owned subsidiaries and its controlled majority-owned subsidiaries. The Company accounts for equity investments in companies over which it has the ability to exercise significant influence, but does not hold a controlling interest, under the equity method, and it records its proportionate share of income or losses in interest and other, net in the consolidated statements of income. All significant intercompany balances and transactions have been eliminated. | ||||||||||
Revenue recognition – Revenue is recognized when there is persuasive evidence that an arrangement exists, when delivery has occurred, when the price to the buyer is fixed or determinable and when collectability of the receivable is reasonably assured. These elements are met when title to the products is passed to the buyers, which is generally when product is shipped to the customers. Generally, the Company recognizes revenue upon shipment to manufacturers (direct ship) as well as upon sales to distributors using the "sell in" model, which is when product is shipped to the distributors (point of purchase). | ||||||||||
Certain customers have limited rights of return and/or are entitled to price adjustments on products held in their inventory or upon sale to their end customers. The Company reduces net sales in the period of sale for estimates of product returns, distributor price adjustments and other allowances. The Company's reserve estimates are based upon historical data as well as projections of sales, distributor inventories, price adjustments, average selling prices and market conditions. | ||||||||||
The Company records allowances/reserves for the following items: (i) ship and debit, which arise when the Company, from time to time based on market conditions, issues credit to certain distributors upon their shipments to their end customers, (ii) stock rotation, which are contractual obligations that permit certain distributors, up to four times a year, to return a portion of their inventory based on historical shipments to them in exchange for an equal and offsetting order, and (iii) price protection, which arise when market conditions cause average selling prices to decrease and the Company issues credit to certain distributors on their inventory. | ||||||||||
Ship and debit reserves are recorded as a reduction to net sales with a corresponding reduction to accounts receivable. Stock rotation reserves are recorded as a reduction to net sales with a corresponding reduction to cost of goods sold for the estimated cost of inventory that is expected to be returned. Price protection reserves are recorded as a reduction to net sales with a corresponding increase in accrued liabilities. Revenue is reduced in the period of sale for estimates of product returns and other allowances including distributor adjustments, which were approximately $68 million, $48 million and $41 million in 2013, 2012 and 2011, respectively. | ||||||||||
Product warranty – The Company generally warrants its products for a period of one year from the date of sale. Historically, warranty expense has not been material. | ||||||||||
Cash and cash equivalents – The Company considers all highly liquid investments with maturity of three months or less at the date of purchase to be cash equivalents. The Company currently maintains substantially all of its day-to-day operating cash balances with major financial institutions. | ||||||||||
Allowance for doubtful accounts – The Company evaluates the collectability of its accounts receivable based upon a combination of factors, including the current business environment and historical experience. If the Company is aware of a customer's inability to meet its financial obligations, it records an allowance to reduce the receivable to the amount it reasonably believes will be collected from the customer. For all other customers, the Company records an allowance based upon the amount of time the receivables are past due. If actual accounts receivable collections differ from these estimates, an adjustment to the allowance may be necessary with a resulting effect on operating expense. Accounts receivable are presented net of valuation allowance, which were approximately $2 million in 2013, 2012 and 2011. | ||||||||||
Inventories – Inventories are stated at the lower of cost or market value. Cost is determined principally by the first-in, first-out method. Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Any write-down of inventory to the lower of cost or market at the close of a fiscal period creates a new cost basis that subsequently would not be marked up based on changes in underlying facts and circumstances. On an on-going basis, the Company evaluates inventory for obsolescence and slow-moving items. This evaluation includes analysis of sales levels, sales projections, and purchases by item, as well as raw material usage related to the Company's manufacturing facilities. If the Company's review indicates a reduction in utility below carrying value, it reduces inventory to a new cost basis. If future demand or market conditions are different than the Company's current estimates, an inventory adjustment to write down inventory may be required, and would be reflected in cost of goods sold in the period the revision is made. | ||||||||||
Property, plant and equipment – Purchased property, plant and equipment is recorded at historical cost and acquired property, plant and equipment is recorded at fair value on the date of acquisition. Property, plant and equipment is depreciated using straight-line methods over the estimated useful lives, which range from 20 to 55 years for buildings and 3 to 10 years for machinery and equipment. The estimated lives of leasehold improvements range from 3 to 5 years, and are amortized over the shorter of the remaining lease term or their estimated useful lives. | ||||||||||
Goodwill and other indefinite lived intangible assets – Goodwill is tested for impairment on an annual basis, on October 1, and between annual tests if indicators of potential impairment exist. For 2013 and 2012, the Company used the simplified goodwill impairment test, which allows the Company to first assess qualitatively whether it is necessary to perform step one of the two-step annual goodwill impairment test. The Company is required to perform step one and calculate the fair value of its reporting units only if the Company concludes that it is more likely than not (that is, a likelihood of more than 50%) that a reporting unit's fair value is less than its carrying value. The qualitative analysis, which is referred to as step zero, was performed and the Company considered all relevant factors specific to its reporting units. Some factors considered in step zero were macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, events affecting a reporting unit and other relevant entity-specific events. | ||||||||||
For 2013, the Company's step zero conclusion was that goodwill is more likely than not to be not impaired and no further testing is required until the next annual test date (or sooner if conditions or events before that date raise concerns of potential impairment in the business) for all reporting units except for one. The reporting unit for Eris Technology Corporation failed the step zero test. Therefore, its goodwill and other indefinite lived intangible assets were tested using the two-step process. The first step required comparison of the fair value of the reporting unit to the respective carrying value. The reporting unit failed step one as the fair value of the reporting unit was less than the carrying value. The second step was then performed to compute the amount of impairment, if any. In the second step, the impairment was computed by comparing the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. In this case, the carrying amount of the reporting unit's goodwill exceeded its implied fair value, and therefore an impairment loss was recognized for the excess in the amount of $5 million. In addition, all the other indefinite lived assets, such as trade name for Eris were not impaired. | ||||||||||
For 2012, the Company's conclusion of step zero was that goodwill is deemed to be not impaired and no further testing was required until the next annual test date. | ||||||||||
Impairment of long-lived assets – The Company's long-lived assets are reviewed whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company considers assets to be impaired if the carrying value exceeds the undiscounted projected cash flows from operations. If impairment exists, the assets are written down to fair value or to the projected discounted cash flows from related operations. As of December 31, 2013, the Company expects the remaining carrying value of assets to be recoverable. No impairment of long-lived assets has been identified during any of the periods presented. The weighted average amortization period for amortizable intangible assets is approximately 8 years. | ||||||||||
Business combinations – The Company recognizes all (and only) the assets acquired and liabilities assumed in the transaction and establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed in a business combination. Certain provisions prescribe, among other things, the determination of acquisition-date fair value of consideration paid in a business combination (including contingent consideration) and the exclusion of transaction and acquisition-related restructuring costs from acquisition accounting. | ||||||||||
Income taxes – Income taxes are accounted for using an asset and liability approach whereby deferred tax assets and liabilities are recorded for differences in the financial reporting bases and tax bases of the Company's assets and liabilities. If it is more likely than not that some portion of deferred tax assets will not be realized, a valuation allowance is recorded. | ||||||||||
Generally accepted accounting principles in the United States of America (“GAAP”) prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Tax positions shall initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and all relevant facts. | ||||||||||
Research and development costs – Internally-developed research and development costs are expensed as incurred. Acquired in-process research and development (“IPR&D”) is capitalized as an indefinite-lived intangible asset and evaluated periodically for impairment. When the project is completed, an expected life is determined and the IPR&D is amortized as an expense over the expected life. | ||||||||||
Shipping and handling costs – Shipping and handling costs for products shipped to customers, which are included in selling, general and administrative expenses, were $10 million, $6 million and $5 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Concentration of credit risk – Financial instruments, which potentially subject the Company to concentrations of credit risk, include trade accounts receivable. Credit risk is limited by the dispersion of the Company's customers over various geographic areas, operating primarily in electronics manufacturing and distribution. The Company performs on-going credit evaluations of its customers, and generally requires no collateral. Historically, credit losses have not been significant. | ||||||||||
The Company currently maintains substantially all of its day-to-day cash balances and short-term investments with major financial institutions. Cash balances are usually in excess of Federal and/or foreign deposit insurance limits. | ||||||||||
Valuation of financial instruments – The carrying value of the Company's financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, working capital line of credit, and long-term debt approximate fair value due to their current market conditions, maturity dates and other factors. | ||||||||||
Use of estimates – The preparation of financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. Actual results may differ from these estimates in amounts that may be material to the consolidated financial statements and accompanying notes. | ||||||||||
Earnings per share – Basic earnings per share is calculated by dividing net earnings attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted earnings per share is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. Earnings per share are computed using the “treasury stock method.” | ||||||||||
For the three years ended December 31, 2013, 2012 and 2011, options and share grants outstanding for 2 million shares, of common stock have been excluded from the computation of diluted earnings per share because their effect was anti-dilutive. | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Basic | ||||||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing basic earnings per share | 46,363 | 45,780 | 45,202 | |||||||
Net income attributable to common stockholders | $ | 26,532 | $ | 24,152 | $ | 50,737 | ||||
Basic earnings per share attributable | ||||||||||
to common stockholders | $ | 0.57 | $ | 0.53 | $ | 1.12 | ||||
Diluted | ||||||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing basic earnings per share | 46,363 | 45,780 | 45,202 | |||||||
Add: Assumed exercise of stock options and stock awards | 1,295 | 1,119 | 1,511 | |||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing diluted earnings per share | 47,658 | 46,899 | 46,713 | |||||||
Net income attributable to common stockholders | $ | 26,532 | $ | 24,152 | $ | 50,737 | ||||
Diluted earnings per share attributable | ||||||||||
to common stockholders | $ | 0.56 | $ | 0.51 | $ | 1.09 | ||||
Share-based compensation – The Company uses the Black-Scholes-Merton model to determine the fair value of stock options on the date of grant and recognizes compensation expense for stock options on a straight-line basis. Restricted stock grants are measured based on the fair market value of the underlying stock on the date of grant and compensation expense for restricted stock grants is recognized on a straight-line basis over the requisite service period. | ||||||||||
The amount of compensation expense recognized using the Black-Scholes-Merton model requires the Company to exercise judgment and make assumptions relating to the factors that determine the fair value of its stock option grants. The fair value calculated by this model is a function of several factors, including the grant price, the expected future volatility, the expected term of the option and the risk-free interest rate of the option. The expected term and expected future volatility of the options require judgment. In addition, the Company is required to estimate the expected forfeiture rate and only recognize expense for those stock options expected to vest. The Company estimates the forfeiture rate based on historical experience, and to the extent its actual forfeiture rate is different from its estimate, share-based compensation expense is adjusted accordingly. | ||||||||||
Functional currencies and foreign currency translation – The functional currency for most of the Company's international operations is the U.S. dollar. In some cases, the Company enters into transactions involving foreign currencies. Some subsidiaries functional currency is their local currency, as the Company believes it is the appropriate currency. The Company believes the New Taiwan (“NT”) dollar is the functional currency for its Taiwan based entities and the British Pound Sterling (“GBP”) is the functional currency for its U.K. based entities, which most appropriately reflects the current economic facts and circumstances of their operations. Assets and liabilities denominated in foreign currencies are translated at the exchange rate on the balance sheet date. Income and expense accounts denominated in foreign currencies are translated at the weighted-average exchange rate during the period presented. Resulting translation adjustments are recorded as a separate component of accumulated other comprehensive income or loss within stockholders' equity in the consolidated balance sheets. Included in other income are foreign exchange losses of $1 million, $2 million and $1 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
The Company uses the U.S. dollar as the functional currency for its Hong Kong based entities and the majority of its mainland China entities as substantially all monetary transactions are made in U.S. dollars, and other significant economic facts and circumstances currently support that position. Some of the Company's mainland China entities use the Chinese Yuan. As these factors may change in the future, the Company periodically assesses its position with respect to the functional currency of its foreign subsidiaries. | ||||||||||
Defined benefit plan – The Company maintains pension plans covering certain of its employees in the U.K. The overfunded or underfunded status of pension and postretirement benefit plans are recognized on the balance sheet. Actuarial gains and losses, prior service costs or credits, are recognized in other comprehensive income (loss), net of tax effects, until they are amortized as a component of net periodic benefit cost. For financial reporting purposes, the net pension and supplemental retirement benefit obligations and the related periodic pension costs are calculated based upon, among other things, assumptions of the discount rate for plan obligations, estimated return on pension plan assets and mortality rates. These obligations and related periodic costs are measured using actuarial techniques and assumptions. The projected unit credit method is the actuarial cost method used to compute the pension liabilities and related expenses. | ||||||||||
Investment in joint ventures – Investment in joint ventures over which the Company does have the ability to exercise significant influence and that, in general, are at least 20 percent owned are stated at cost plus equity in undistributed net income (loss) of the joint venture. These investments are evaluated for impairment, in which an impairment loss would be recorded whenever a decline in the value of an equity investment below its carrying amount is determined to be “other than temporary.” In judging "other than temporary," the Company would consider the length of time and extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining the investment in the investee. | ||||||||||
Noncontrolling interest - Noncontrolling interest (previously referred to as minority interest) primarily relates to the minority investors' share of the earnings of certain China and Taiwan subsidiaries. Noncontrolling interests are a separate component of equity and not a liability, the amount of which increases or decreases with changes in the Company's ownership interest of the subsidiaries, that leave control intact, be treated as equity transactions, rather than step acquisitions or diluted gain or losses. The noncontrolling interest in the Company's subsidiaries and their equity balances are reported separately in the consolidated financial statements, and activities of these subsidiaries are included therein. | ||||||||||
Contingencies – From time to time, the Company may be involved in a variety of legal matters that arise in the normal course of business. Based on information available, the Company evaluates the likelihood of potential outcomes. The Company records the appropriate liability when the amount is deemed probable and reasonably estimable. In addition, the Company does not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. | ||||||||||
Comprehensive income (loss) – GAAP generally requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as separate components of the equity section of the consolidated balance sheet, such items, along with net income, are components of comprehensive income or loss. The components of accumulated other comprehensive income or loss include foreign currency translation adjustments and unrealized gain or loss on defined benefit plan. Accumulated other comprehensive loss was $(44) million, $(34) million and $(36) million at December 31, 2013, 2012 and 2011, respectively. | ||||||||||
There is no income tax expense or benefit associated with each component of comprehensive income. As of December 31, 2013, the accumulated balance for each component of comprehensive income are as follows: | ||||||||||
2013 | 2012 | |||||||||
Translation adjustment | ($16,210) | ($22,663) | ||||||||
Unrealized loss on defined benefit plan | ($28,164) | ($11,193) | ||||||||
Reclassifications – Certain amounts from prior periods have been reclassified to conform to the current years' presentation such as schedules included in the notes to consolidated financial statements. | ||||||||||
Recently issued accounting pronouncements – In March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. ASU No. 2013-05 provides additional guidance with respect to the reclassification into income of the cumulative translation adjustment (“CTA”) recorded in accumulated other comprehensive income associated with a foreign entity of a parent company. This ASU differentiates between transactions occurring within a foreign entity and transactions affecting an investment in a foreign entity. For transactions within a foreign entity, the full CTA associated with the foreign entity would be reclassified into income only when the sale of a subsidiary or group of net assets within the foreign entity represents the substantially complete liquidation of that foreign entity. For transactions affecting an investment in a foreign entity (for example, control or ownership of shares in a foreign entity), the full CTA associated with the foreign entity would be reclassified into income only if the parent no longer has a controlling interest in that foreign entity as a result of the transaction. In addition, acquisitions of a foreign entity completed in stages (also known as step acquisitions) could trigger the release of CTA associated with an equity method investment in that entity at the point a controlling interest in the foreign entity is obtained. This ASU is effective prospectively beginning January 1, 2014, with early adoption permitted. This ASU could impact the Company's consolidated financial results in the event of a transaction as described above. | ||||||||||
In July 2013, the FASB, issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU No. 2013-11 provides that an entity is required to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. If a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU No. 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this guidance affects presentation only and, therefore, it is not expected to have a material impact on the Company's consolidated financial results. |
Fair_Value_Measurements_Text_B
Fair Value Measurements (Text Block) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Measurement Disclosure [Abstract] | ' | |||||||||||||||
Fair Value Measurements [Text Block] | ' | |||||||||||||||
NOTE 2 – FAIR VALUE MEASUREMENTS | ||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. | ||||||||||||||||
The Company uses valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. These two types of inputs create a three-tier fair value hierarchy that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | ||||||||||||||||
Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||||||||
Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlation or other means. | ||||||||||||||||
Level 3 Inputs - Significant unobservable inputs that reflect an entity's own assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||||||||
As of December 31, 2013, the Company had investments in trading securities and short-term investments. Trading securities were purchased on the open market and unrealized gains and losses are included in other income (expense). The trading securities are valued under the fair value hierarchy using Level 1 Inputs. Short-term investments of $22 million consist of investments such as time deposits, which are highly liquid with maturity dates greater than three months at the date of purchase. Generally, the Company can access these investments in a relatively short amount of time but in doing so it generally forfeits all earned and future interest income. The short-term investments are valued under the fair value hierarchy using Level 2 Inputs. | ||||||||||||||||
Financial assets and liabilities carried at fair value as of December 31, 2013 are classified in the following table: | ||||||||||||||||
Description | Fair Market Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Changes in Fair Values Included in Current Period Earnings | |||||||||||
Trading securities | $ | 5,634 | $ | 5,634 | $ | - | $ | - | $ | 235 | ||||||
Short-term investments | 22,922 | - | 22,922 | - | - | |||||||||||
During 2013, the Company entered into a net settlement agreement with China Construction Bank (“CCB”) whereby CCB loaned the Company $20 million and the Company in turn invested the same $20 million with CCB. The principal of the $20 million investment is guaranteed by CCB and is collateral for the $20 million loan. The Company believes that the $20 million investment and loan approximate fair value. The net interest income, which is guaranteed by CCB, realized by the investment was immaterial as of December 31, 2013. The investment and the offsetting loan are non-cancelable, will mature in June 2014 and are shown net of each other on the balance sheet as the Company believes the arrangement qualifies for the offsetting provisions in GAAP. | ||||||||||||||||
As of December 31, 2012, the Company had investments in shares of common stock of BCD Semiconductor Manufacturing Limited (“BCD”), which were purchased on the open market and records unrealized gains and losses in other income (expense). The shares of common stock are valued under the fair value hierarchy using Level 1 Inputs. See Note 17 for further information about BCD. | ||||||||||||||||
Financial assets and liabilities carried at fair value as of December 31, 2012 are classified in the following table: | ||||||||||||||||
Trading Securities | Fair Market Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Changes in Fair Values Included in Current Period Earnings | |||||||||||
BCD common stock | $ | 7,092 | $ | 7,092 | $ | - | $ | - | $ | 3,679 | ||||||
Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The Company believes its long-term debt under its revolving credit facility approximates fair value and is valued under the fair value hierarchy using Level 2 Inputs and a discounted cash flow model. Financial assets and financial liabilities measured at fair value on a non-recurring basis were not significant at December 31, 2013 and 2012. Certain non-financial assets and non-financial liabilities are measured at fair value on a recurring and non-recurring basis include goodwill, other intangible assets and other non-financial long-lived assets. |
Inventories_Text_Block
Inventories (Text Block) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventories [Abstract] | ' | |||||
Inventories [Text Block] | ' | |||||
NOTE 3 – INVENTORIES | ||||||
Inventories, stated at the lower of cost or market value, at December 31 were: | ||||||
2013 | 2012 | |||||
Finished goods | $ | 67,487 | $ | 59,319 | ||
Work-in-progress | 43,031 | 30,564 | ||||
Raw materials | 69,878 | 63,410 | ||||
$ | 180,396 | $ | 153,293 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Text Block) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Property Plant and Equipment [Abstract] | ' | ||||
Property Plant And Equipment [Text Block] | ' | ||||
NOTE 4 – PROPERTY, PLANT AND EQUIPMENT | |||||
Property, plant and equipment at December 31 were: | |||||
2013 | 2012 | ||||
Buildings and leasehold improvements | $ | 107,342 | $ | 53,068 | |
Machinery and equipment | 549,971 | 465,106 | |||
657,313 | 518,174 | ||||
Less: Accumulated depreciation | |||||
and amortization | -386,455 | -322,403 | |||
270,858 | 195,771 | ||||
Construction in-progress | 34,922 | 31,227 | |||
Land | 16,233 | 16,298 | |||
$ | 322,013 | $ | 243,296 | ||
Depreciation and amortization of property, plant and equipment was $66 million, $59 million and $57 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Intangible_Assets_Text_Block
Intangible Assets (Text Block) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Intangible Assets [Abstract] | ' | |||||||||
Intangible Assets [Text Block] | ' | |||||||||
NOTE 5 – INTANGIBLE ASSETS | ||||||||||
Intangible assets subject to amortization at December 31 were as follows: | ||||||||||
31-Dec-13 | ||||||||||
Intangible Assets | Useful life | Gross Carrying Amount | Accumulated Amortization | Currency Exchange | Net | |||||
Amortized intangible assets: | ||||||||||
Patents | 5-15 years | $ | 11,812 | $ | -6,274 | $ | -228 | $ | 5,310 | |
Software license | 3 years | 1,212 | -1,149 | -63 | - | |||||
Developed product technology | 2-10 years | 53,508 | -20,654 | -5,516 | 27,338 | |||||
Customer relationships | 12 years | 20,393 | -4,168 | -1,193 | 15,032 | |||||
Total amortized intangible assets: | $ | 86,925 | $ | -32,245 | $ | -7,000 | $ | 47,680 | ||
Intangible assets with indefinite lives: | ||||||||||
Trademarks and trade names | Indefinite | $ | 6,403 | $ | - | $ | -512 | $ | 5,891 | |
Total Intangible assets with indefinite lives: | $ | 6,403 | $ | - | $ | -512 | $ | 5,891 | ||
Total intangible assets: | $ | 93,328 | $ | -32,245 | $ | -7,512 | $ | 53,571 | ||
31-Dec-12 | ||||||||||
Intangible Assets | Useful life | Gross Carrying Amount | Accumulated Amortization | Currency Exchange and Other | Net | |||||
Amortized intangible assets: | ||||||||||
Patents | 5-15 years | $ | 11,795 | $ | -5,393 | $ | -273 | $ | 6,129 | |
Software license | 3 years | 1,212 | -1,149 | -63 | - | |||||
Developed product technology | 2-10 years | 42,408 | -15,316 | -5,481 | 21,611 | |||||
Customer relationships | 12 years | 14,292 | -2,303 | -1,234 | 10,755 | |||||
Total amortized intangible assets: | $ | 69,707 | $ | -24,161 | $ | -7,051 | $ | 38,495 | ||
Intangible assets with indefinite lives: | ||||||||||
Trademarks and trade names | Indefinite | $ | 6,403 | $ | - | $ | -561 | $ | 5,842 | |
Total Intangible assets with indefinite lives: | $ | 6,403 | $ | - | $ | -561 | $ | 5,842 | ||
Total intangible assets: | $ | 76,110 | $ | -24,161 | $ | -7,612 | $ | 44,337 | ||
Amortization expense related to intangible assets subject to amortization was $8 million, $5 million and $5 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Amortization of intangible assets through 2018 is as follows: | ||||||||||
Years | ||||||||||
2014 | $ | 7,973 | ||||||||
2015 | 7,513 | |||||||||
2016 | 7,121 | |||||||||
2017 | 6,466 | |||||||||
2018 | 5,402 |
Goodwill_Text_Block
Goodwill (Text Block) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Goodwill [Abstract] | ' | ||
Goodwill [Text Block] | ' | ||
NOTE 6 – GOODWILL | |||
Changes in goodwill for the years ended December 31 were as follows: | |||
Balance at December 31, 2011 | $ | 67,818 | |
Acquisitions | 16,913 | ||
Currency exchange | 2,628 | ||
Balance at December 31, 2012 | $ | 87,359 | |
Acquisitions | 2,518 | ||
Impairment | -5,318 | ||
Currency exchange | 155 | ||
Balance at December 31, 2013 | $ | 84,714 |
Bank_Credit_Agreements_and_Lon
Bank Credit Agreements and Long-Term Debt (Text Block) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-term debt by current and noncurrent [Abstract] | ' | ||||||
Bank Credit Agreements and Other Debt [Text Block] | ' | ||||||
NOTE 7 – BANK CREDIT AGREEMENTS AND OTHER SHORT-TERM AND LONG-TERM DEBT | |||||||
Lines of Credit – The Company maintains lines of credit with several financial institutions through its entities worldwide totaling $112 million. These lines of credit, are collateralized by each subsidiary's premises, are unsecured, uncommitted and, in some instances, may be repayable on demand. | |||||||
Revolving Senior Credit Facility - On January 8, 2013, the Company and Diodes International B.V. (the “Foreign Borrower” and collectively with the Company, the “Borrowers”) and certain subsidiaries of the Company as guarantors, entered into a Credit Agreement (the “Credit Agreement”) with Bank of America, N.A. (“Bank of America”) and other participating lenders (collectively, the “Lenders”). | |||||||
The Credit Agreement provides for a five-year, $300 million revolving senior credit facility (the “Revolver”), which includes $10 million swing line sublimit, a $10 million letter of credit sublimit, and $20 million alternative currency sublimit. The Borrowers may from time to time request increases in the aggregate commitment under the Credit Agreement of up to $200 million, subject to the Lenders electing to increase their commitments or by means of the addition of new Lenders, and subject to at least half of each increase in aggregate commitment being in the form of term loans (“Incremental Term Loans”), with the remaining amount of each being an increase the amount of the Revolver. | |||||||
The Revolver matures on January 8, 2018 (the “Revolver Maturity Date”). Incremental Term Loans mature no earlier than the Revolver Maturity Date. The proceeds under the Revolver and the Incremental Term Loans may be used for the purposes of refinancing certain existing debt, for working capital and capital expenditures, and for general corporate purposes, including financing permitted acquisitions. | |||||||
The Foreign Borrower's obligations under the New Credit Agreement are guaranteed by the Company. Each Borrower's obligations under the New Credit Agreement are guaranteed by certain of that Borrower's subsidiaries. The Borrower's obligations under the New Credit Agreement are secured by substantially all assets of the Borrowers and certain of their subsidiaries. | |||||||
Under the Revolver, the Borrowers may borrow in United States Dollars (“USD”), Euros, British Pounds Sterling or another currency approved by the Lenders. Borrowed amounts bear interest at a rate per annum equal to the sum of (a) the highest of (i) the Federal Funds Rate plus ½ of 1.00%, (ii) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (iii) the Eurocurrency Rate plus 1.00%, plus (b) an amount between 0.50% per annum and 1.25% per annum, based upon the Borrowers' and their subsidiaries' Consolidated Leverage Ratio. Eurocurrency loans bear interest at LIBOR plus an amount between 1.50% and 2.25% per annum, based upon the Borrowers' and their subsidiaries' Consolidated Leverage Ratio. | |||||||
Incremental Term Loans will be on pricing and amortization terms to be agreed upon. | |||||||
The Credit Agreement contains certain financial and non-financial covenants, including, but not limited to, a maximum Consolidated Leverage Ratio, a minimum Consolidated Fixed Charge Coverage Ratio, and restrictions on liens, indebtedness, investments, fundamental changes, dispositions, and restrictive payments (including dividends). | |||||||
In connection with the acquisition of BCD, the Company drew down on the Revolver to fund the acquisition and pay for costs associated with the acquisition. See Note 17 for further information about the acquisition of BCD. | |||||||
Term Loan - On November 25, 2009 the Company entered into a credit agreement with Bank of America, as modified by a certain amendments, including the Sixth Amendment to Credit Agreement dated as of April 30, 2012. The Fifth Amendment added an additional borrower, the Foreign Borrower, and provided for an additional term loan in the amount of $40 million (the “Term Loan”). The Term Loan bore interest at a rate per annum equal to the Eurocurrency Rate (as defined) plus 1.25% per annum. On February 1, 2012, the Foreign Borrower drew down the full $40 million. | |||||||
As part of the Credit agreement, the Company's Term Loan was terminated with no penalties and on January 8, 2013, the Company drew down $45 million on the Revolver to retire the Term Loan and pay fees and expenses in connection with entering into the Credit Agreement. | |||||||
The credit unused and available under the various facilities as of December 31, 2013, was $220 million (net of $7 million credit used for import and export guarantee), as follows: | |||||||
2013 | Outstanding at December 31, | ||||||
Lines of Credit | Terms | 2013 | 2012 | ||||
$ | 112,023 | Unsecured, interest at LIBOR plus margin, due quarterly | $ | 5,814 | $ | 5,629 | |
- | Secured, interest at LIBOR plus margin, due monthly | - | 2,000 | ||||
$ | 112,023 | $ | 5,814 | $ | 7,629 | ||
Long-term debt – The balances as of December 31, consist of the following: | |||||||
2013 | 2012 | ||||||
Notes payable to Taiwan bank, principal amount of TWD 158 million, variable interest (approximately 2.1% and 3.3% as of December 31, 2013 and 2012, respectively), of which TWD 132 million matures on July 6, 2021, and TWD 26 million matured July 6, 2013, secured by land and building. | 2,500 | 2,979 | |||||
Notes payable to Taiwan banks, variable interest between 1.8% and 2.5% as of December 31, 2013, maturity dates range from 2013 to 2023, secured by land, building and equipment. | 2,426 | 2,215 | |||||
Revolver | 179,000 | - | |||||
Term Loan | - | 40,000 | |||||
Total long-term debt | 183,926 | 45,194 | |||||
Less: Current portion | -1,127 | -1,063 | |||||
Long-term debt, net of current portion | $ | 182,799 | $ | 44,131 | |||
The annual contractual maturities of long-term debt at December 31, 2013 are as follows: | |||||||
2014 | 1,127 | ||||||
2015 | 1,132 | ||||||
2016 | 567 | ||||||
2017 | 555 | ||||||
2018 | 179,561 | ||||||
Thereafter | 984 | ||||||
Total long-term debt | $183,926 | ||||||
During 2013, the Company entered into a net settlement agreement with CCB whereby CCB loaned the Company $20 million and the Company in turn invested the same $20 million with CCB. The principal of the $20 million investment is guaranteed by CCB and is collateral for the $20 million loan. The net interest income realized by the investment was immaterial as of December 31, 2013. The investment and the offsetting loan are non-cancelable, will mature in June 2014 and are shown net of each other on the balance sheet as the Company believes the arrangement qualifies for the offsetting provisions in GAAP. | |||||||
Convertible senior notes – In October 2006, the Company issued and sold Notes with an aggregate principal amount of $230 million due 2026. On September 30, 2011, substantially all of the note holders surrendered their Notes for purchase. On December 1, 2011, the Company elected to purchase the remaining outstanding principal amount plus accrued and unpaid interest to, but excluding, December 1, 2011, the redemption date. The Company has delivered the aggregate purchase price for the accepted Notes, which includes accrued and unpaid interest, to the Paying Agent for distribution to the note holders. As of December 31, 2011, all Notes have been redeemed. | |||||||
The amount of interest expense, including amortization of debt discount for the liability component and debt issuance costs, for the year ended December 31, 2011 is as follows: | |||||||
2011 | |||||||
Notes contractual interest expense | $ | 2,267 | |||||
Amortization of debt discount | 6,032 | ||||||
Amortization of debt issuance costs | 412 | ||||||
Total | $ | 8,711 |
Capital_Lease_Obligations_Text
Capital Lease Obligations (Text Block) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Capital Lease Obligations Abstract | ' | ||
Capital Lease Obligations [Text Block] | ' | ||
NOTE 8 – CAPITAL LEASE OBLIGATIONS | |||
Future minimum lease payments under capital lease agreements are summarized as follows: | |||
For years ending December 31, | |||
2014 | $305 | ||
2015 | 195 | ||
2016 | 185 | ||
2017 | 19 | ||
704 | |||
Less: Interest | -40 | ||
Present value of minimum lease payments | 664 | ||
Less: Current portion | -280 | ||
Long-term portion | $384 | ||
At December 31, 2013, property under capital leases had a cost of $3 million, and the related accumulated depreciation was $2 million. Depreciation of assets held under capital lease is included in depreciation expense. |
Accrued_Liabilites_and_Other_L
Accrued Liabilites and Other Long-Term Liabilities (Text Block) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accrued Liabilities Current And Noncurrent Abstract | ' | |||||
Accrued Liabilities and Other Long-Term Liabilities [Text Block] | ' | |||||
NOTE 9 – ACCRUED LIABILITIES AND OTHER LONG-TERM LIABILITIES | ||||||
Accrued liabilities and other current liabilities at December 31 were: | ||||||
2013 | 2012 | |||||
Compensation and payroll taxes | $ | 22,414 | $ | 12,837 | ||
Accrued expenses | 23,159 | 12,338 | ||||
Accrued pricing adjustments | 2,891 | 1,304 | ||||
Equipment purchases | 7,395 | 7,081 | ||||
Accrued professional services | 2,215 | 2,512 | ||||
Other | 2,610 | 5,067 | ||||
$ | 60,684 | $ | 41,139 | |||
Other long-term liabilities at December 31 were: | ||||||
2013 | 2012 | |||||
Accrued defined benefit plan | $ | 32,749 | $ | 17,853 | ||
Unrecognized tax benefits | 20,710 | 14,591 | ||||
Income tax contingencies | 9,829 | - | ||||
Deferred compensation | 3,535 | 2,213 | ||||
Other | 12,043 | 7,317 | ||||
$ | 78,866 | $ | 41,974 |
Stockholders_Equity_Text_Block
Stockholders Equity (Text Block) | 12 Months Ended |
Dec. 31, 2013 | |
Stockholder's Equity Note [Abstract] | ' |
Stockholder's Equity [Text Block] | ' |
NOTE 10 – STOCKHOLDERS' EQUITY | |
The Company has never declared or paid cash dividends on its Common Stock. The Company's credit agreement, dated January 8, 2013, with Bank of America N.A. and other lenders parties permits the Company to pay dividends up to $1.5 million per fiscal year to its stockholders so long as it has not defaulted and is in continuing operation at the time of such dividend. The payment of dividends is within the discretion of the Company's Board of Directors. See Note 7 for additional information regarding the Company's credit agreements. |
Income_Tax_Provision_Text_Bloc
Income Tax Provision (Text Block) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Provision [Abstract] | ' | ||||||||||||
Income Taxes [Text Block] | ' | ||||||||||||
NOTE 11 – INCOME TAXES | |||||||||||||
Income before income taxes | 2013 | 2012 | 2011 | ||||||||||
U.S. | $ | -12,936 | $ | -24,411 | $ | -28,238 | |||||||
Foreign | 51,521 | 55,218 | 91,902 | ||||||||||
Total | $ | 38,585 | $ | 30,807 | $ | 63,664 | |||||||
The components of the income tax provision (benefit) are as follows for the years ended December 31: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax provision (benefit) | |||||||||||||
Federal | $ | 1,315 | $ | 1,424 | $ | 14,049 | |||||||
Foreign | 9,270 | 10,756 | 18,324 | ||||||||||
State | -187 | 142 | 214 | ||||||||||
10,398 | 12,322 | 32,587 | |||||||||||
Deferred tax provision (benefit) | |||||||||||||
Federal | -1,531 | -8,784 | -20,906 | ||||||||||
Foreign | -2,197 | -3,247 | -1,165 | ||||||||||
State | 9 | 317 | -466 | ||||||||||
-3,719 | -11,714 | -22,537 | |||||||||||
Liability for unrecognized tax benefits | 7,802 | 4,217 | 107 | ||||||||||
Total income tax provision | $ | 14,481 | $ | 4,825 | $ | 10,157 | |||||||
Effective Tax Rate Reconciliation | |||||||||||||
Reconciliation between the effective tax rate and the statutory tax rates for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Percent | Percent | Percent | |||||||||||
of pretax | of pretax | of pretax | |||||||||||
Amount | earnings | Amount | earnings | Amount | earnings | ||||||||
Federal tax | $ | 13,505 | 35 | $ | 10,783 | 35 | $ | 22,282 | 35 | ||||
State income taxes, net of federal tax provision (benefit) | 29 | 0.1 | 213 | 0.7 | -366 | -0.6 | |||||||
Foreign income taxed at lower tax rates (1) | -8,363 | -21.7 | -15,515 | -50.4 | -6,356 | -10 | |||||||
U.S. tax impact of foreign operations | 911 | 2.4 | 496 | 1.6 | 1,115 | 1.8 | |||||||
Foreign tax credits, net of valuation allowance (2) | - | - | 3,135 | 10.2 | -5,843 | -9.2 | |||||||
Goodwill impairment | 904 | 2.3 | - | - | - | - | |||||||
Research and development | -2,294 | -5.9 | - | - | - | - | |||||||
Liability for unrecognized tax benefits | 7,802 | 20.2 | 4,217 | 13.7 | 107 | 0.2 | |||||||
U.S. provision-to-return adjustments | 554 | 1.4 | -102 | -0.3 | -167 | -0.3 | |||||||
Other | 1,433 | 3.7 | 1,598 | 5.2 | -615 | -1 | |||||||
Income tax provision | $ | 14,481 | 37.5 | $ | 4,825 | 15.7 | $ | 10,157 | 15.9 | ||||
The decrease in 2013 compared to 2012 in foreign income taxed at lower tax rates was primarily due to increased earnings in the U.S. | |||||||||||||
The change in 2013 was due to the Company not claiming a foreign tax credit in 2013. | |||||||||||||
Uncertain Tax Positions | |||||||||||||
In accordance with the provisions related to accounting for uncertainty in income taxes, the Company recognizes the benefit of a tax position if the position is “more likely than not” to prevail upon examination by the relevant tax authority. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Balance at January 1, | $14,591 | $10,177 | |||||||||||
Additions based on tax positions related to the current year | 3,659 | 1,593 | |||||||||||
Additions for prior years tax positions | 10,206 | 3,945 | |||||||||||
Reductions for prior years tax positions | -7,746 | -1,124 | |||||||||||
Balance at December 31, | $20,710 | $14,591 | |||||||||||
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. These changes may be the result of settlements of ongoing audits or competent authority proceedings. At this time, an estimate of the range of the reasonably possible outcomes cannot be made. | |||||||||||||
The Company files income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2007. During the second quarter of 2013, the Internal Revenue Service (“IRS”) commenced an examination of the Company's U.S. federal income tax return for the 2010 tax year. The examination is ongoing, and the IRS has not proposed adjustments to any tax positions at this time. With respect to state and local jurisdictions and countries outside of the U.S., with limited exceptions, the Company is no longer subject to income tax audits for years before 2006. 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 future tax audits. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in interest expense. The Company had an insignificant amount of accrued interest and penalties at December 31, 2013, 2012 and 2011. | |||||||||||||
Deferred Taxes | |||||||||||||
At December 31, 2013 and 2012, the Company's deferred tax assets and liabilities are comprised of the following items: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets, current | |||||||||||||
Inventory cost | $ | 6,113 | $ | 6,158 | |||||||||
Accrued expenses and accounts receivable | 2,422 | 2,047 | |||||||||||
Share based compensation and others | 1,978 | 1,790 | |||||||||||
Total deferred tax assets, current | $ | 10,513 | $ | 9,995 | |||||||||
Deferred tax assets, non-current | |||||||||||||
Foreign tax credits | $ | 20,911 | $ | 20,537 | |||||||||
Research and development tax credits | 5,460 | 4,331 | |||||||||||
Net operating loss carryforwards | 13,130 | 13,977 | |||||||||||
Accrued pension | 17,110 | 10,089 | |||||||||||
Share based compensation and others | 18,371 | 21,811 | |||||||||||
74,982 | 70,745 | ||||||||||||
Valuation allowances | -35,908 | -27,022 | |||||||||||
Total deferred tax assets, non-current | 39,074 | 43,723 | |||||||||||
Deferred tax liabilities, non-current | |||||||||||||
Plant, equipment and intangible assets | -10,837 | -6,904 | |||||||||||
Total deferred tax liabilities, non-current | -10,837 | -6,904 | |||||||||||
Net deferred tax assets, non-current | $ | 28,237 | $ | 36,819 | |||||||||
At December 31, 2013, the Company had federal and state tax credit carryforwards of approximately $27 million and $1 million, respectively which are available to offset future income tax liabilities. The federal tax credit carryforwards begin to expire in 2014 and the state tax credit carryforwards will begin to expire in 2020. The Company determined that it is more likely than not that a portion of its federal foreign tax credit and research credit carryforwards will expire before they are utilized. Accordingly, the Company recorded valuation allowances of $1 million, $4 million and $1 million during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
At December 31, 2013, the Company had federal and state net operating loss (“NOL”) carryforwards of approximately $33 million and $17 million, respectively, which are available to offset future taxable income. The federal NOL carryforwards will begin to expire in 2018. The Company determined that it is more likely than not that the federal NOL carryforwards will be utilized; thus, no valuation allowance has been recorded. The state NOL carryforwards will begin to expire in 2014. The Company determined that it is more likely than not that the state NOL carryforwards will expire before they are fully utilized and recorded a full valuation allowance on the state NOL carryforwards in prior years. The Company maintained this full valuation allowance for the year ended December 31, 2013. | |||||||||||||
Supplemental Information | |||||||||||||
Funds repatriated from foreign subsidiaries to the U.S. may be subject to federal and state income taxes. The Company intends to permanently reinvest overseas all of its earnings from its foreign subsidiaries; accordingly, U.S. taxes are not being recorded on undistributed foreign earnings. As of December 31, 2013, the Company has undistributed earnings from its non-U.S. operations of approximately $430 million (including approximately $45 million of restricted earnings which are not available for dividends). Additional federal and state income taxes of approximately $101 million would be required should such earnings be repatriated to the U.S. | |||||||||||||
The impact of tax holidays decreased the Company's tax expense by approximately $2 million, $6 million and $7 million for the years ended December 31, 2013, 2012 and 2011, respectively. The benefit of the tax holidays on both basic and diluted earnings per share for the year ended December 31, 2013 was approximately $0.05. The benefit of the tax holidays on basic and diluted earnings per share for the year ended December 31, 2012 was approximately $0.14 and $0.13, respectively. The benefit of the tax holidays on both basic and diluted earnings per share for the year ended December 31, 2011 was approximately $0.15. During 2012, the China government began an audit of the Company's High and New Technology Enterprise status for its largest Chinese subsidiary for 2009-2011 as part of an overall evaluation of the reduced tax rates provided to many high tech companies. This subsidiary has a reduced tax rate of 15%. In April 2013, the Company was notified by the China government that they had completed their tax audit and had concluded that the Company owed additional tax related to tax year 2011 in the amount of $5 million, which was paid during 2013. This subsidiary has been approved for its HNTE status for the tax years 2012-2014. The Company's other China manufacturing facility has been approved for its HNTE status for the tax years 2011-2013. For 2014 and future years, this facility no longer qualifies for the HNTE status and therefore all of its future and deferred income will be taxed at the statutory tax rate of 25%. |
Employee_Benefit_Plans_Text_Bl
Employee Benefit Plans (Text Block) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||
Employee Benefit Plans [Text Block] | ' | ||||||||||||
NOTE 12 – EMPLOYEE BENEFIT PLANS | |||||||||||||
Defined Benefit Plan | |||||||||||||
The Company has adopted a contributory defined benefit plan that covers certain employees in the U.K. The defined benefit plan is closed to new entrants and frozen with respect to future benefit accruals. The retirement benefit is based on the final average compensation and service of each eligible employee. The Company determined the fair value of the defined benefit plan assets and utilizes an annual measurement date of December 31. At subsequent measurement dates, defined benefit plan assets will be determined based on fair value. Defined benefit plan assets consist primarily of high quality corporate bonds that are denominated in the currency in which the benefits will be paid and that have terms to maturity approximating the terms of the related pension liability. The net pension and supplemental retirement benefit obligations and the related periodic costs are based on, among other things, assumptions of the discount rate, estimated return on plan assets and mortality rates. These obligations and related periodic costs are measured using actuarial techniques and assumptions. The projected unit credit method is the actuarial cost method used to compute the pension liabilities and related expenses. | |||||||||||||
Net period benefit costs associated with the defined benefit were less than $1 million for both the years ended December 31, 2013 and 2012, respectively. All unrecognized actuarial gains and losses, prior service costs and accumulated other comprehensive income are eliminated and the balance sheet liability is set equal to the funded status of the defined benefit plan at acquisition date. | |||||||||||||
The following table summarizes the net periodic benefit costs of the Company's plan for the years ended December 31, 2013 and 2012: | |||||||||||||
Defined Benefit Plan | |||||||||||||
Components of net periodic benefit cost: | 2013 | 2012 | |||||||||||
Service cost | $ | 313 | $ | 317 | |||||||||
Interest cost | 5,384 | 5,638 | |||||||||||
Recognized actuarial loss | 239 | -70 | |||||||||||
Expected return on plan assets | -5,556 | -5,446 | |||||||||||
Net periodic benefit cost | $ | 380 | $ | 439 | |||||||||
The following tables set forth the benefit obligation, the fair value of plan assets, and the funded status as of December 31: | |||||||||||||
Defined Benefit Plan | |||||||||||||
2013 | 2012 | ||||||||||||
Change in benefit obligation: | |||||||||||||
Beginning balance | $ | 124,751 | $ | 109,877 | |||||||||
Service cost | 313 | 317 | |||||||||||
Interest cost | 5,384 | 5,638 | |||||||||||
Actuarial gain (loss) | 21,765 | 7,134 | |||||||||||
Benefits paid | -6,719 | -3,506 | |||||||||||
Settlements | 240 | - | |||||||||||
Currency changes | 3,582 | 5,291 | |||||||||||
Benefit obligation at December 31 | $ | 149,316 | $ | 124,751 | |||||||||
Change in plan assets: | |||||||||||||
Beginning balance - fair value | $ | 106,898 | $ | 96,384 | |||||||||
Employer contribution | 2,960 | 1,904 | |||||||||||
Actual return on plan assets | 10,987 | 7,536 | |||||||||||
Benefits paid | -6,719 | -3,506 | |||||||||||
Currency changes | 2,441 | 4,580 | |||||||||||
Fair value of plan assets at December 31 | $ | 116,567 | $ | 106,898 | |||||||||
Underfunded status at December 31 | $ | -32,749 | $ | -17,853 | |||||||||
Based on an actuarial study performed as of December 31, 2013, the plan is underfunded by approximately $33 million and the liability is reflected in the Company's consolidated balance sheets as a noncurrent liability and the amount recognized in accumulated other comprehensive income was approximately $28 million. The majority of the increase of the underfunded status in 2013 was caused by the change in mortality rates. | |||||||||||||
The Company applies the “10% corridor” approach to amortize unrecognized actuarial gains (losses). Under this approach, only actuarial gains (losses) that exceed 10% of the greater of the projected benefit obligation or the market-related value of the plan assets are amortized. For the year ended December 31, 2013, the plan's total recognized loss increased by $15 million. The variance between the actual and expected return to plan assets during 2013 increased the total unrecognized net loss by $6 million. The total unrecognized net loss is more than 10% of the projected benefit obligation and 10% of the plan assets. Therefore, the excess amount will be amortized over the average term to retirement of plan participants not yet in receipt of pension, which as of December 31, 2013 the average term was 14 years. | |||||||||||||
The following weighted-average assumptions were used to determine net periodic benefit costs for the year ended December 31: | |||||||||||||
2013 | 2012 | ||||||||||||
Discount rate | 4.60% | 5.10% | |||||||||||
Expected long-term return on plan assets | 5.90% | 5.60% | |||||||||||
The following weighted-average assumption was used to determine the benefit obligations for the year ended December 31: | |||||||||||||
2013 | 2012 | ||||||||||||
Discount rate | 4.60% | 5.10% | |||||||||||
The expected long-term return on plan assets was determined based on historical and expected future returns of the various asset classes. The plan's investment policy includes a mandate to diversify assets and invest in a variety of asset classes to achieve its expected long-term return and is currently invested in a variety of funds representing most standard equity and debt security classes. Trustees of the plan may make changes at any time. The following summarizes the plan asset allocations of the assets in the plan and expected long-term return by asset category: | |||||||||||||
Asset category | Expected long-term return | Assets allocation | |||||||||||
Cash | 0.50% | 2% | |||||||||||
Equity securities | 7.30% | 47% | |||||||||||
Debt securities | 4.10% | 39% | |||||||||||
Target return funds | 7.30% | 12% | |||||||||||
Total | 5.90% | 100% | |||||||||||
Benefit plan payments are primarily made from funded benefit plan trusts and current assets. The following summarizes the expected future benefit payments, including future benefit accrual, as of December 31, 2013: | |||||||||||||
Year | |||||||||||||
2014 | $3,975 | ||||||||||||
2015 | 3,975 | ||||||||||||
2016 | 4,571 | ||||||||||||
2017 | 4,621 | ||||||||||||
2018 | 4,803 | ||||||||||||
2019-2023 | 30,921 | ||||||||||||
The Company adopted a payment plan with the trustees of the defined benefit plan, in which the Company will pay approximately ₤2 million GBP (approximately $3 million based on a USD:GBP exchange rate of 1.6:1) every year from 2012 through 2019. | |||||||||||||
The Company's overall defined benefit plan investment strategy is to achieve a mix of investments for long-term growth and for near-term benefit payments with a wide diversification of asset types and fund strategies. The target allocations for plan assets are 48% equity securities, 40% corporate bonds and government securities, and 12% to absolute return funds. Equity securities primarily include investments in large-cap and mid-cap companies primarily located in the U.K. Fixed income securities include corporate bonds of companies from diversified industries, and U.K. government bonds. The absolute return fund is mainly invested in a mixture of equities and bonds. | |||||||||||||
The plan's trustees appoint fund managers to carry out all the day-to-day functions relating to the management of the fund and its administration. The fund managers must invest their portion of the plan's assets in accordance with their investment manager agreement agreed by the trustees. The trustees are responsible for agreeing these investment manager agreements and for deciding on the portion of the plan's assets that will be invested with each fund manager. When making decisions, the trustees take advice from experts including the plan's actuary and also consult with the Company. | |||||||||||||
The following table summarizes the major categories of the plan assets: | |||||||||||||
31-Dec-13 | |||||||||||||
Assets Category | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash | $ | 2,173 | $ | - | $ | - | $ | 2,173 | |||||
Equity securities: | |||||||||||||
U.K. | 27,370 | - | - | 27,370 | |||||||||
North America | 9,480 | - | - | 9,480 | |||||||||
Europe (excluding U.K.) | 9,160 | - | - | 9,160 | |||||||||
Japan | 4,003 | - | - | 4,003 | |||||||||
Pacific Basin (excluding Japan) | 3,296 | - | - | 3,296 | |||||||||
Emerging markets | 936 | - | - | 936 | |||||||||
Fixed income securities: | |||||||||||||
Corporate bonds | - | 25,808 | - | 25,808 | |||||||||
Index linked securities: | |||||||||||||
U.K. Treasuries | 20,094 | - | - | 20,094 | |||||||||
Other types of investments: | |||||||||||||
Absolute return funds | 14,247 | - | - | 14,247 | |||||||||
Total | $ | 90,759 | $ | 25,808 | $ | - | $ | 116,567 | |||||
Fair value is taken to mean the bid value of securities, as supplied by the fund managers. All the plan's securities are publically traded and highly liquid. Therefore, the majority of the securities are valued using Level 1 Inputs and one security is valued using Level 2 Inputs using quoted prices for identical or similar securities. The plan does not hold any Level 3 securities. See Note 2 for additional information regarding fair value and Levels 1, 2 and 3. | |||||||||||||
The investment manager agreements require the fund managers to invest in a diverse range of stocks and bonds across each particular asset class. The stocks held by the plan in a particular asset class should therefore match closely the underlying stocks in the relevant index. The Company believes that this leads to minimal concentration of risk within each asset class; although it recognizes that some asset classes are inherently more risky than others. | |||||||||||||
The Company also has pension plans in Asia for which the benefit obligation, fair value of the plan assets and the funded status amounts are deemed immaterial and therefore, not included in the amounts or assumptions above. | |||||||||||||
401(k) Retirement Plan | |||||||||||||
The Company maintains a 401(k) retirement plan (“the Plan”) for the benefit of qualified employees at its U.S. locations. Employees who participate may elect to make salary deferral contributions to the Plan up to 100% of the employees' eligible payroll subject to annual Internal Revenue Code maximum limitations. The Company currently makes a matching contribution of $1 for every $2 contributed by the participant up to 6% (3% maximum matching) of the participant's eligible payroll, which vests over four years. In addition, the Company may make a discretionary contribution to the entire qualified employee pool, in accordance with the Plan. | |||||||||||||
As stipulated by the regulations of China, the Company maintains a retirement plan pursuant to the local municipal government for the employees in China. The Company is required to make contributions to the retirement plan at a rate between 10% and 22% of the employee's eligible payroll. Pursuant to the Taiwan Labor Standard Law and Factory Law, the Company maintains a retirement plan for the employees in Taiwan, whereby the Company makes contributions at a rate of 6% of the employee's eligible payroll. | |||||||||||||
For the years ended December 31, 2013, 2012 and 2011, total amounts expensed under these plans were approximately $6 million, $5 million and $4 million, respectively. | |||||||||||||
Deferred Compensation Plan | |||||||||||||
The Company maintains a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors (the “Board”). The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. The Company offsets its obligations under the Deferred Compensation Plan by investing in the actual underlying investments. These investments are classified as trading securities and are carried at fair value. At December 31, 2013, these investments totaled approximately $3 million. All gains and losses in these investments are materially offset by corresponding gains and losses in the deferred compensation plan liabilities. | |||||||||||||
Share-Based Plans | |||||||||||||
The Company maintains share-based compensation plans for its Board, officers and key employees, which provide for stock options and stock awards under its 2013 Equity Incentive Plan. |
ShareBased_Compensation_Text_B
Share-Based Compensation (Text Block) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Share-Based Compensation [Abstract] | ' | ||||||||||||
Share-Based Compensation [Text Block] | ' | ||||||||||||
NOTE 13 - SHARE-BASED COMPENSATION | |||||||||||||
The following table shows the total compensation cost charged as an expense for share-based compensation plans, including stock options and share grants, recognized in the statements of income for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cost of goods sold | $ | 522 | $ | 458 | $ | 394 | |||||||
Selling, general and administrative expense | 11,645 | 12,715 | 12,266 | ||||||||||
Research and development expense | 1,384 | 1,225 | 1,043 | ||||||||||
Total share-based compensation expense | $ | 13,551 | $ | 14,398 | $ | 13,703 | |||||||
Stock Options – Stock options under the Company's 2001 Omnibus Equity Incentive Plan (“2001 Plan”) generally vest in equal annual installments over a four-year period and expire ten years after the grant date. | |||||||||||||
In May 2013, the Company's stockholders approved the Company's 2013 Equity Incentive Plan (“2013 Plan”). Since the approval of the 2013 Plan, all stock options have been granted under the 2013 Plan, and the Company will not grant any further stock options under its 2001 Plan. Stock options under the 2013 Plan generally vest in equal annual installments over a four-year period and expire eight years after the grant date. For additional information on the 2013 Plan, see the Company's definitive Proxy Statement filed with the SEC on April 19, 2013. | |||||||||||||
Share-based compensation expense for stock options granted during 2013, 2012 and 2011 was calculated on the date of grant using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 53.36% | 53.86% | 52.53% | ||||||||||
Expected term (years) | 7.2 | 7.5 | 7.5 | ||||||||||
Risk free interest rate | 1.49% | 1.16% | 2.37% | ||||||||||
Forfeiture rate | 0.78% | 0.76% | 0.47% | ||||||||||
Expected volatility – The Company estimates expected volatility using historical volatility. Public trading volume on options in the Company's stock is not material. As a result, the Company determined that utilizing an implied volatility factor would not be appropriate. The Company calculates historical volatility for the period that is commensurate with the option's expected term assumption. For 2013, the expected volatility for grants to officers and the Board is 53.36%, while the expected volatility for grants to all other employees is 56.91%. | |||||||||||||
Expected term – The Company has evaluated expected term based on history and exercise patterns across its demographic population. The Company believes that this historical data is the best estimate of the expected term of a new option. For 2013, the expected term for grants to officers and the Board is 7 years, while the expected term for grants to all other employees is 5 years. | |||||||||||||
Risk free interest rate – The Company estimate the risk-free interest rate based on zero-coupon U.S. treasury securities for a period that is commensurate with the expected term assumption. | |||||||||||||
Forfeiture rate - The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest as forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeitures” is distinguished from “cancellations” or “expirations” and represents only the unvested portion of the surrendered option. This analysis will be re-evaluated at least annually, and the forfeiture rate for all grants will be adjusted as necessary. | |||||||||||||
Dividend yield – The Company historically has not paid a cash dividend on its common stock; therefore this input is zero. | |||||||||||||
The weighted-average grant-date fair value of options granted during 2013, 2012 and 2011 was $12.88, $10.60, and $16.55, respectively. The total cash received from option exercises was $3 million, $1 million and $4 million during 2013, 2012 and 2011, respectively. | |||||||||||||
For the years ended December 31, 2013, 2012 and 2011, stock option expense was $4 million, $5 million and $5, respectively. | |||||||||||||
At December 31, 2013, unamortized compensation expense related to unvested options, net of estimated forfeitures, was approximately $6 million. The weighted average period over which share-based compensation expense related to these options will be recognized is approximately 2 years. | |||||||||||||
A summary of the Company's stock option plans is as follows: | |||||||||||||
Stock Options | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (years) | Aggregate Intrinsic Value | |||||||||
Outstanding at January 1, 2011 | 3,707 | $ | 14.14 | 5.2 | $ | 47,891 | |||||||
Granted | 385 | 29.07 | |||||||||||
Exercised | -496 | 7.17 | 11,120 | ||||||||||
Forfeited or expired | -9 | 20.8 | |||||||||||
Outstanding at January 1, 2011 | 3,587 | 16.69 | 5.1 | 22,299 | |||||||||
Exercisable at December 31, 2011 | 2,622 | 14.51 | 3.9 | 20,201 | |||||||||
Outstanding at January 1, 2012 | 3,587 | 16.69 | |||||||||||
Granted | 402 | 19.31 | |||||||||||
Exercised | -274 | 4.81 | 4,249 | ||||||||||
Forfeited or expired | -2 | 20.1 | |||||||||||
Outstanding at December 31, 2012 | 3,713 | 17.85 | 5 | 9,744 | |||||||||
Exercisable at December 31, 2012 | 2,715 | 16.48 | 3.7 | 9,472 | |||||||||
Outstanding at January 1, 2013 | 3,713 | 17.85 | |||||||||||
Granted | 186 | 23.35 | |||||||||||
Exercised | -341 | 7.7 | 5,722 | ||||||||||
Forfeited or expired (1) | -432 | 20.34 | |||||||||||
Outstanding at December 31, 2013 | 3,126 | 18.93 | 4.2 | 17,461 | |||||||||
Exercisable at December 31, 2013 | 2,509 | 18.01 | 3.3 | 16,144 | |||||||||
_________________ | |||||||||||||
The Compensation Committee of the Board of Directors reviewed the grants of stock options to the Company's Chief Executive Officer in 2009, 2010, 2011 and 2012 (each such annual grant, an “Option Grant”), and approved a Confirmation Agreement, dated April 1, 2013, in which the Company and the Company's Chief Executive Officer agreed and confirmed that the Company's Chief Executive Officer will assert no claim that any Option Grant in 2009, 2010, 2011 or 2012 provided for the purchase of more than 100,000 shares of the Company's Common Stock, and that each Option Grant document be deemed amended to reflect the foregoing 100,000 share limitation. | |||||||||||||
The following table summarizes information about stock options outstanding at December 31, 2013: | |||||||||||||
Plan | Range of exercise prices | Number outstanding | Weighted average remaining contractual life (years) | Weighted average exercise price | |||||||||
2001 Plan | $ | 8.14-29.21 | 2,944 | 4 | $ | 18.67 | |||||||
2013 Plan | $ | 23.35 | 182 | 7.4 | $ | 23.35 | |||||||
The following summarizes information about stock options exercisable at December 31, 2013: | |||||||||||||
Plan | Range of exercise prices | Number exercisable | Weighted average remaining contractual life (years) | Weighted average exercise price | |||||||||
2001 Plan | $ | 8.14-29.21 | 2,509 | 3.3 | $ | 18.03 | |||||||
2013 Plan | $ | 23.35 | - | 7.4 | $ | 23.35 | |||||||
Share Grants - Restricted stock awards and restricted stock units generally vest in equal annual installments over a four-year period. | |||||||||||||
Since the approval of the 2013 Plan, all share grants have been granted under the 2013 Plan, and the Company will not grant any further share grants under its 2001 Plan. | |||||||||||||
A summary of the Company's non-vested share grants in 2013, 2012 and 2011 are presented below: | |||||||||||||
Restricted Stock Grants | Shares | Weighted Average Grant Date Fair Value | Aggregate Intrinsic Value | ||||||||||
Nonvested at January 1, 2011 | 871 | $ | 18.66 | ||||||||||
Granted | 472 | 25.78 | |||||||||||
Vested | -274 | 20.23 | |||||||||||
Forfeited | -45 | 19.68 | |||||||||||
Nonvested at December 31, 2011 | 1024 | $ | 21.48 | $ | - | ||||||||
Nonvested at January 1, 2012 | 1024 | $ | 21.48 | ||||||||||
Granted | 482 | 18.95 | |||||||||||
Vested | -305 | 21.48 | |||||||||||
Forfeited | -37 | 21.67 | |||||||||||
Nonvested at December 31, 2012 | 1,164 | $ | 20.42 | $ | - | ||||||||
Nonvested at January 1, 2013 | 1,164 | $ | 20.42 | ||||||||||
Granted | 453 | 24.66 | |||||||||||
Vested | -428 | 19.9 | $ | 8,512 | |||||||||
Forfeited | -58 | 21.66 | |||||||||||
Nonvested at December 31, 2013 | 1,131 | $ | 22.35 | $ | 26,656 | ||||||||
For each of the years ended December 31 of 2013, 2012 and 2011, there was approximately $9 million of total recognized share-based compensation expense related to restricted stock arrangements granted under the plans. The total unrecognized share-based compensation expense as of December 31, 2013 was approximately $20 million, which is expected to be recognized over a weighted average period of approximately 2 years. | |||||||||||||
On September 22, 2009, the Company entered into an employment agreement (the “Agreement”) with Dr. Keh-Shew Lu, President and Chief Executive Officer of the Company (the “Employee”), pursuant to which he will continue to be employed by the Company in such positions for an additional six-year term. As part of the Agreement, the Company and the Employee entered into a Stock Award Agreement that provides that: (i) the Company shall grant to the Employee 100,000 shares of Common Stock in the form of restricted stock awards on each of April 14, 2010, 2011, 2012, 2013, 2014 and 2015; (ii) each such installment would vest only if the Company achieved $1 billion net sales; (iii) upon the termination of the Employee's employment, the Company's obligation to grant any subsequent installment would terminate; and (iv) any granted shares would be automatically forfeited and returned to the Company if the Employee's employment with the Company is terminated before the Company achieves the specified target amount of net sales, except in the case of death or disability (as defined) in which case the granted shares would become fully vested on the date of death or disability. The estimated fair value of this grant is approximately $12 million and is being expensed on a straight line basis through April 14, 2015. As of December 31, 2013, four annual installments have been granted and are included in the above table as granted but not vested. As of December 31, 2013, no installments have vested. |
Related_Parties_Text_Block
Related Parties (Text Block) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Related Parties [Abstract] | ' | ||||||
Related Party Transactions [Text Block] | ' | ||||||
NOTE 14 – RELATED PARTY TRANSACTIONS | |||||||
The Company conducts business with a related party company, Lite-On Semiconductor Corporation, and its subsidiaries and affiliates (“LSC”). LSC is the Company's largest stockholder, owning 18% of the Company's outstanding Common Stock as of December 31, 2013, and is a member of the Lite-On Group of companies. C.H. Chen, the Company's former President and Chief Executive Officer and currently the Vice Chairman of the Board of Directors, is also Vice Chairman of LSC and Lite-On Technology Corporation. Raymond Soong, the Chairman of the Board of Directors, is the Chairman of LSC, and is the Chairman of Lite-On Technology Corporation, a significant shareholder of LSC. Dr. Keh-Shew Lu, the Company's President and Chief Executive Officer and a member of its Board of Directors, is a member of the Board of Directors of Lite-On Technology Corporation. L.P. Hsu, a member of the Board of Directors since May 2007 serves as a consultant to Lite-On Technology Corporation. The Company considers its relationship with LSC, a member of the Lite-On Group of companies, to be mutually beneficial and the Company plans to continue its strategic alliance with LSC. | |||||||
The Company also conducts business with a significant company, Keylink International (B.V.I.) Inc. and its subsidiaries and affiliates (“Keylink”). Keylink is the Company's 5% joint venture partner in the Company's Shanghai manufacturing facilities. | |||||||
The Audit Committee of the Company's Board reviews all related party transactions for potential conflict of interest situations on an ongoing basis, all in accordance with such procedures as the Audit Committee may adopt from time to time. | |||||||
Lite-On Semiconductor Corporation (LSC) – The Company sold products to LSC totaling approximately 1% of its net sales for the years ended December 31, 2013, 2012 and 2011, respectively. Also for the years ended December 31, 2013, 2012 and 2011, 2%, 3% and 5%, respectively, of the Company's net sales were from semiconductor products purchased from LSC for subsequent sale, making LSC one of the Company's largest suppliers. The Company also rented warehouse space in Hong Kong, which the lease term ended March 2011 from a member of the Lite-On Group. | |||||||
Net sales to, and purchases from, LSC were as follows for years ended December 31: | |||||||
2013 | 2012 | 2011 | |||||
Net sales | $770 | $1,054 | $1,980 | ||||
Purchases | $35,329 | $33,928 | $37,879 | ||||
Keylink International (B.V.I.) Inc. – The Company sells products to, and purchases inventory from, companies owned by Keylink. The Company sold products to companies owned by Keylink, totaling 1%, 3% and 2% of net sales for the years ended December 31, 2013, 2012 and 2011, respectively. Also for the years ended December 31, 2013, 2012 and 2011, 1% of the Company's net sales were from semiconductor products purchased from companies owned by Keylink. In addition, the Company's subsidiaries in China lease their manufacturing facilities in Shanghai from, and subcontract a portion of their manufacturing process (metal plating and environmental services) to, Keylink. The Company also pays a consulting fee to Keylink. The aggregate amounts for these services for the years ended December 31, 2013, 2012 and 2011 were $17 million, $16 million and $17 million, respectively. | |||||||
Net sales to, and purchases from, companies owned by Keylink were as follows for years ended December 31: | |||||||
2013 | 2012 | 2011 | |||||
Net sales | $10,559 | $19,336 | $11,965 | ||||
Purchases | $8,030 | $7,826 | $11,168 | ||||
Accounts receivable from, and accounts payable to, LSC and Keylink were as follows as of December 31: | |||||||
2013 | 2012 | ||||||
Accounts receivable | |||||||
LSC | $ | 140 | $ | 204 | |||
Keylink | 4,927 | 10,457 | |||||
$ | 5,067 | $ | 10,661 | ||||
Accounts payable | |||||||
LSC | $ | 5,670 | $ | 5,308 | |||
Keylink | 6,505 | 5,095 | |||||
$ | 12,175 | $ | 10,403 | ||||
Eris Technology Corporation – Prior to the Company obtaining a controlling financial interest in Eris on August 31, 2012, Eris was a related party due to significant, but noncontrolling, equity investment. The Company subcontracted to Eris some of its wafers for assembly and test and also purchased finished goods not sourced from the Company's wafers. With respect to assembly and test fees and the finished goods purchases, the Company paid Eris approximately $10 million and $16 million for the years ended December 31, 2012 and 2011, respectively. See Note 17 for further information about business combinations. |
Segment_Information_and_Enterp
Segment Information and Enterprise-Wide Disclosure (Text Block) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Information and Enterprise-Wide Disclosure [Abstract] | ' | |||||||||||
Segment Information and Enterprise-Wide Disclosures [Text Block] | ' | |||||||||||
NOTE 15 – SEGMENT INFORMATION AND ENTERPRISE-WIDE DISCLOSURES | ||||||||||||
An operating segment is defined as a component of an enterprise about which separate financial information is available that is evaluated regularly by the chief decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company's chief decision-making group consists of the President and Chief Executive Officer, Chief Financial Officer, Senior Vice President of Operations and Senior Vice President of Sales and Marketing. For financial reporting purposes, the Company operates in a single segment, standard semiconductor products, through its various manufacturing and distribution facilities. The Company aggregates its products in a single segment because the products have similar economic characteristics, are similar in production process and manufacture flow, and share the same customers and target end-equipment markets. | ||||||||||||
The Company's primary operations include the operations in Asia, North America and Europe. Revenues are attributed to geographic areas based on the location of subsidiaries producing the revenues: | ||||||||||||
2013 | Asia | North America | Europe | Consolidated | ||||||||
Total sales | $ | 750,339 | $ | 143,251 | $ | 165,179 | $ | 1,058,769 | ||||
Inter-company sales | -75,731 | -65,947 | -90,245 | -231,923 | ||||||||
Net sales | $ | 674,608 | $ | 77,304 | $ | 74,934 | $ | 826,846 | ||||
Property, plant and equipment | $ | 268,196 | $ | 30,040 | $ | 23,777 | $ | 322,013 | ||||
Assets | $ | 858,114 | $ | 120,104 | $ | 184,040 | $ | 1,162,258 | ||||
2012 | Asia | North America | Europe | Consolidated | ||||||||
Total sales | $ | 573,085 | $ | 133,973 | $ | 154,955 | $ | 862,013 | ||||
Inter-company sales | -75,230 | -66,626 | -86,351 | -228,207 | ||||||||
Net sales | $ | 497,855 | $ | 67,347 | $ | 68,604 | $ | 633,806 | ||||
Property, plant and equipment | $ | 186,563 | $ | 31,309 | $ | 25,424 | $ | 243,296 | ||||
Assets | $ | 554,603 | $ | 136,261 | $ | 229,199 | $ | 920,063 | ||||
2011 | Asia | North America | Europe | Consolidated | ||||||||
Total sales | $ | 559,109 | $ | 137,789 | $ | 194,455 | $ | 891,353 | ||||
Inter-company sales | -82,958 | -61,907 | -111,237 | -256,102 | ||||||||
Net sales | $ | 476,151 | $ | 75,882 | $ | 83,218 | $ | 635,251 | ||||
Property, plant and equipment | $ | 162,022 | $ | 33,684 | $ | 29,687 | $ | 225,393 | ||||
Assets | $ | 494,375 | $ | 112,863 | $ | 185,826 | $ | 793,064 | ||||
The accounting policies of the operating entities are the same as those described in the summary of significant accounting policies. Sales are attributed to geographic areas based on the location of the subsidiaries producing the sales. | ||||||||||||
Geographic Information - Historically, the Company reported revenues “billed to” customers located in various countries. In 2013, the Company changed to revenues “shipped to” customer locations as it believes the change better represents where the Company's customers business activities occur. All years presented reflect this change. | ||||||||||||
Revenues were derived from (shipped to) customers located in the following countries. “All others” represents countries with less than 3% of total revenues each: | ||||||||||||
% of Total | ||||||||||||
2013 | Revenue | Revenue | ||||||||||
China | $ | 522,587 | 63% | |||||||||
U.S. | 72,232 | 9% | ||||||||||
Korea | 68,693 | 8% | ||||||||||
Germany | 45,631 | 6% | ||||||||||
Singapore | 43,066 | 5% | ||||||||||
Taiwan | 30,233 | 4% | ||||||||||
All others | 44,404 | 5% | ||||||||||
Total | $ | 826,846 | 100% | |||||||||
% of Total | ||||||||||||
2012 | Revenue | Revenue | ||||||||||
China | $ | 381,307 | 60% | |||||||||
U.S. | 62,862 | 10% | ||||||||||
Korea | 52,670 | 8% | ||||||||||
Germany | 41,037 | 6% | ||||||||||
Singapore | 26,877 | 4% | ||||||||||
Taiwan | 20,973 | 3% | ||||||||||
All others | 48,080 | 9% | ||||||||||
Total | $ | 633,806 | 100% | |||||||||
% of Total | ||||||||||||
2011 | Revenue | Revenue | ||||||||||
China | $ | 359,647 | 57% | |||||||||
U.S. | 71,796 | 11% | ||||||||||
Germany | 48,264 | 8% | ||||||||||
Korea | 39,051 | 6% | ||||||||||
Taiwan | 33,437 | 5% | ||||||||||
Singapore | 24,036 | 4% | ||||||||||
All others | 59,020 | 9% | ||||||||||
Total | $ | 635,251 | 100% | |||||||||
Major customers – No customer accounted for 10% or greater of the Company's total net sales in 2013, 2012 and 2011. |
Commitments_and_Contingencies_
Commitments and Contingencies (Text Block) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies [Abstract] | ' | |||
Commitments and Contingencies [Text Block] | ' | |||
NOTE 16 – COMMITMENTS AND CONTINGENCIES | ||||
Operating leases – The Company leases offices, manufacturing plants and warehouses under operating lease agreements expiring through December 2020. Rental expense amounted to approximately $9 million, $7 million and $7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||
Future minimum lease payments under non-cancelable operating leases at December 31, 2013 are: | ||||
2014 | $ | 8,247 | ||
2015 | 6,709 | |||
2016 | 5,919 | |||
2017 | 5,482 | |||
2018 and thereafter | 3,132 | |||
$ | 29,489 | |||
In addition, the Company has two fifty year land right leases: one in Chengdu, China, on which the Company does not pay rent and which expires in 2061; and one in Shanghai, China, on which the Company does not pay rent and which expires in 2056. | ||||
Purchase commitments – The Company has entered into non-cancelable purchase contracts for capital expenditures, primarily for manufacturing equipment in China, for approximately $9 million at December 31, 2013. | ||||
Contingencies - From time to time, the Company may be involved in a variety of legal matters that arise in the normal course of business. Based on information available, the Company evaluates the likelihood of potential outcomes. The Company records the appropriate liability when the amount is deemed probable and reasonably estimable. In addition, the Company does not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. | ||||
The Company is currently a party to a purported stockholder derivative action in the United States District Court for the District of Delaware, entitled Scherer v. Keh-Shew Lu, Civil Action No. 1:13-cv-00358-UNA (D. Del. filed Mar. 5, 2013), on behalf of the Company against its directors, in which plaintiff alleges that (a) the Board approved awards of stock options to Dr. Keh-Shew Lu, our President and Chief Executive Officer, in 2009, 2010, 2011 and 2012 that exceeded the limitation on the number of shares of the Company's Common Stock that may be purchased upon the exercise of options granted to any person in any given year under the Company's 2001 Omnibus Equity Incentive Plan as amended by the stockholders on May 28, 2009; (b) the Company's disclosures in its 2010, 2011 and 2012 proxy statements regarding the limitation on the number of shares of the Company's Common Stock that may be purchased upon the exercise of options granted to any person in any given year under the Company's 2001 Omnibus Equity Incentive Plan as amended by the stockholders on May 28, 2009 were inaccurate; and (c) the Company's disclosures in its 2010, 2011 and 2012 proxy statements that the grants of stock options to Dr. Lu in 2009, 2010, 2011 and 2012 complied with the terms of the Company's 2001 Omnibus Equity Incentive Plan as amended by the stockholders on May 28, 2009 were incorrect. The Compensation Committee reviewed the grants of stock options to Dr. Lu in 2009, 2010, 2011 and 2012 (each such annual grant, an “Option Grant”), and approved a Confirmation Agreement, dated April 1, 2013, in which the Company and Dr. Lu agreed and confirmed that Dr. Lu will assert no claim that any Option Grant in 2009, 2010, 2011 or 2012 provided for the purchase of more than 100,000 shares of the Company's Common Stock, and that each Option Grant document be deemed amended to reflect the foregoing 100,000 share limitation. On April 3, 2013, defendants and the Company filed answers to the complaint. On May 8, 2013, defendants filed a motion for judgment on the pleadings dismissing the action on the ground that the claims are moot. On June 24, 2013, the Court approved the parties' stipulation providing for the withdrawal of the motion for judgment on the pleadings and the dismissal of the action as moot upon the filing and adjudication of plaintiff's motion for an award of attorney's fees and costs. On July 29, 2013, plaintiff filed a motion for an award of attorneys' fees and costs. On September 20, 2013, the Company filed its opposition to plaintiff's motion. On October 11, 2013, plaintiff filed her reply in further support of her motion. The motion is now fully submitted. No hearing date has been set for this motion. | ||||
The Company is also currently a party to a putative securities class action in the United States District Court for the Eastern District of Texas, entitled Local 731 I.B. of T. Excavators and Pavers Pension Trust Fund v. Diodes, Inc., Civil Action No. 6:13-cv-00247 (E.D. Tex. filed Mar. 15, 2013), against the Company, Dr. Lu and Richard D. White. In this action, plaintiff purportedly on behalf of a class of investors who purchased the Company's Common Stock between February 9, 2011 and June 9, 2011, alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5 promulgated thereunder by making allegedly misleading public statements during the class period regarding the labor market in China and its impact on the Company's business and prospects. On June 14, 2013, the Court entered an order appointing Local 731 I.B. of T. Excavators and Pavers Pension Trust Fund as lead plaintiff and approved lead plaintiff's selection of Robbins Geller Rudman & Dowd as lead plaintiff's counsel and the Ward & Smith Law Firm as lead plaintiff's liaison counsel. On August 1, 2013, lead plaintiff filed an amended complaint reiterating the same claims for relief against the same defendants as asserted in the original complaint. On September 16, 2013, defendants filed a motion to dismiss the amended complaint. Lead plaintiff filed its opposition to defendants' motion to dismiss on October 31, 2013. Defendants filed their reply in further support of their motion to dismiss on December 3, 2013. Lead plaintiff filed its sur-reply in further opposition of defendant's motion to dismiss on December 13, 2013. The motion is now fully submitted. No hearing date has been set for this motion. Pursuant to the Private Securities Litigation Reform Act of 1995, all discovery and other proceedings are stayed pending a ruling on any motion to dismiss. The defendants intend to defend this action vigorously. | ||||
On February 20, 2014, a purported “tag-along” stockholder derivative action was filed in the United States District Court for the Eastern District of Texas, entitled Persson v. Keh-Shew Lu, Case No. 4:14-cv-00108-RC-ALM (E.D. Tex. filed Feb. 20, 2014), on behalf of the Company against its directors, in which plaintiff alleges that the Board breached their fiduciary duties by allowing the Company to make allegedly misleading public statements in 2011 regarding the labor market in China and its impact on the Company's business and prospects, by failing to maintain internal controls and by selling shares of Diodes stock while allegedly in possession of material nonpublic information regarding the labor market in China and its impact on the Company's business and prospects. The complaint has not yet been served. The complaint does not seek any damages or other relief against the Company. The defendants intend to defend this lawsuit vigorously. |
Business_Combination_Text_Bloc
Business Combination (Text Block) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Business Combinations [Abstract] | ' | ||||||
Business Combination Disclosure [Text Block] | ' | ||||||
NOTE 17 – BUSINESS COMBINATION | |||||||
BCD Semiconductor Manufacturing Limited | |||||||
On March 5, 2013, the Company completed the acquisition of all the outstanding ordinary shares, par value $0.001 per share, of BCD (the “Shares”), including Shares represented by American Depository Shares (“ADSs”), which were cancelled in exchange for the right to receive $1.33-1/3 in cash per Share, without interest. Each ADS represented six Shares and was converted into the right to receive $8.00 in cash, without interest. The aggregate consideration was approximately $155 million, excluding acquisition costs, fees and expenses. In addition, a $5 million retention plan for employees of BCD, payable at the 12, 18 and 24 month anniversaries of the acquisition, has been established. The employee retention plan is intended to benefit the Company and not the selling shareholders, and therefore has been excluded from the determination of the purchase price. The acquisition was funded by drawings on the Company's revolving senior credit facility. See Note 7 for additional information regarding the Company's credit facility. | |||||||
The Company's purchase price for BCD and related costs are estimated as follows: | |||||||
Purchase price (cost of shares) | $ | 154,735 | |||||
Acquisition related costs (included in selling, general and administrative expenses) | 2,075 | ||||||
Total purchase price | $ | 156,810 | |||||
The results of operations of BCD have been included in the consolidated financial statements from March 1, 2013. The consolidated revenue and earnings of BCD included in the Company's consolidated financial statements for the year ended December 31, 2013 were approximately $155 million and $6 million, respectively, which include acquisition accounting adjustments. The Company's purpose in making this acquisition is to further its strategy of expanding its market and growth opportunities through select strategic acquisitions. This acquisition is expected to enhance the Company's analog product portfolio by expanding its standard linear and power management offerings, including AC/DC and DC/DC solutions for power adapters and chargers, as well as other electronic products. BCD's established presence in Asia, with a particularly strong local market position in China, offers the Company even greater penetration of the consumer, computing and communications markets. Likewise, the Company believes it can achieve increased market penetration for BCD's products by leveraging the Company's own global customer base and sales channels. In addition, BCD has in-house manufacturing capabilities in China, as well as a cost-effective development team that can be deployed across multiple product families. The Company also believes it will be able to apply its packaging capabilities and expertise to BCD's products in order to improve cost efficiencies, utilization and product mix. | |||||||
Under the accounting guidance for step acquisitions, the Company is required to record all assets acquired and liabilities assumed at fair value, and recognize goodwill of the acquired business. The step acquisition guidelines also require that the Company remeasure its preexisting investment in BCD at fair value, and recognize any gains or losses from such remeasurement. The fair value of the Company's interest immediately before the closing date was $7 million, which resulted in the Company recognizing a non-cash gain of approximately $4 million within other income (expense) for the year ended December 31, 2013. The shares of BCD common stock were valued under the fair value hierarchy as a Level 1 Input. | |||||||
The following summarizes the allocation of the purchase price to the fair value of the assets acquired and liabilities assumed at the date of acquisition: | |||||||
1-Mar-13 | |||||||
Acquisition | |||||||
Method | |||||||
Assets acquired: | |||||||
Cash and cash equivalents | $ | 29,819 | |||||
Accounts receivable, net | 20,862 | ||||||
Inventory | 42,909 | ||||||
Prepaid expenses and other current assets | 27,205 | ||||||
Property, plant and equipment, net | 99,390 | ||||||
Deferred tax assets | 1,612 | ||||||
Other long-term assets | 5,497 | ||||||
Other intangible assets | 17,200 | ||||||
Goodwill | 2,518 | ||||||
Total assets acquired | $ | 247,012 | |||||
Liabilities assumed: | |||||||
Lines of credit | $ | 17,336 | |||||
Accounts payable | 34,758 | ||||||
Accrued liabilities and other | 16,703 | ||||||
Deferred tax liability | 5,055 | ||||||
Other liabilities | 18,425 | ||||||
Total liabilities assumed | 92,277 | ||||||
Total net assets acquired, net of cash acquired | $ | 154,735 | |||||
The fair value of the significant identified intangible assets was estimated by using the market approach, income approach and cost approach valuation methodologies. Inputs used in the methodologies primarily included projected future cash flows, discounted at a rate commensurate with the risk involved. The total amount of intangible assets acquired subject to amortization expense is $17 million, which has a residual value of zero and weighted-average amortization period of 6 years. Goodwill arising from the acquisition is attributable to future income from new customer contracts, synergy of combined operations, the acquired workforce and future technology that has yet to be designed or even conceived. In addition, goodwill will be deductible for income tax purposes. | |||||||
The Company estimated the fair value of acquired receivables to be $21 million with a gross contractual amount of $21million. The Company expects to collect substantially all of the acquired receivables. The Company evaluated and adjusted the acquired inventory for a reasonable profit allowance, which is intended to permit the Company to report only the profits normally associated with its activities following the acquisition as it relates to the work-in-progress and finished goods inventory. As such, the Company increased the inventory acquired from BCD by approximately $5 million, and recorded that increase into cost of goods sold, of which approximately $2 million was recorded in the first quarter of 2013 and $3 million was recorded in the second quarter of 2013 as the acquired work-in-progress and finished goods inventory was sold. | |||||||
The following unaudited pro forma consolidated results of operations for the years ended December 31, 2013 and 2012 have been prepared as if the acquisition of BCD had occurred at January 1, 2012, for each year: | |||||||
Twelve Months Ended | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Net revenues | $ | 847,947 | $ | 776,650 | |||
Net income attributable to common stockholders | $ | 25,513 | $ | 19,233 | |||
Earnings per share—Basic | $ | 0.55 | $ | 0.42 | |||
Earnings per share—Diluted | $ | 0.54 | $ | 0.41 | |||
The unaudited pro forma consolidated results of operations do not purport to be indicative of the results that would have been obtained if the above acquisition had actually occurred as of the dates indicated or of those results that may be obtained in the future. These unaudited pro forma consolidated results of operations were derived, in part, from the historical consolidated financial statements of BCD and other available information and assumptions believed to be reasonable under the circumstances. | |||||||
Eris Technology Corporation | |||||||
Prior to August 31, 2012, the Company owned less than 50% of the outstanding common stock of Eris, a publicly traded company listed on Taiwan's GreTai Securities Market that provides design, manufacturing and after-market services for diode products. The Company elected the fair value option to account for its less than 50% ownership that otherwise would have been accounted for under the equity method of accounting. See Note 2 for further information about the fair value option. | |||||||
On August 31, 2012, the Company acquired additional shares to bring its ownership to approximately 51% of the outstanding common stock of Eris. The Company has accounted for the additional purchase of shares as a business combination achieved in stages under the accounting guidance for step acquisitions and consolidated Eris beginning September 1, 2012. The consolidated revenue for Eris for the period ended December 31, 2012 was approximately $3 million. The Company may from time to time seek to purchase additional shares of Eris common stock in the open market, in privately negotiated transactions or otherwise. Such purchases, if any, will depend on prevailing market conditions, the Company's liquidity requirements, and other factors. The amounts involved may be material. | |||||||
The Company's purpose for obtaining a controlling interest in Eris was to expand its semiconductor product offerings and to maximize its market opportunities. In addition, the Company's main interest in Eris is for its automatic manufacturing capabilities in test and assembly for various diode products. The business scope for Eris comprises Schottky Diodes, TVS Diodes, Zener Diodes, Bridge Diodes, Wafers, LEDs and the relevant devices. | |||||||
Under the accounting guidance for step acquisitions, the Company is required to record all assets acquired, liabilities assumed, and noncontrolling interests at fair value, and recognize the entire goodwill of the acquired business. The step acquisition guidelines also require that the Company remeasure its preexisting investment in Eris at fair value, and recognize any gains or losses from such remeasurement. The fair value of the Company's interest immediately before the closing date was $27 million, which resulted in the Company recognizing a non-cash gain of approximately $2 million within other income (expense) for the year ended December 31, 2012. The shares of Eris common stock were valued under the fair value hierarchy as a Level 1 Input. In addition, Level 1 Input fair value measurements were used to measure both the fair value of the Company's preexisting investment and the fair value of the noncontrolling interest, which was $26 million. | |||||||
The Company recorded $8 million of goodwill (which is not deductible for tax purposes) and $18 million of intangible assets associated with this acquisition. The intangible assets associated with this acquisition consist primarily of finite-lived intangibles of $15 million for developed technology and customer relationships to be amortized on a straight-line basis over a period of 12 years and 10 years, respectively. In addition, an indefinite-lived trade name in the amount of $3 million was also recorded. The fair value of the significant identified intangible assets was estimated by using the market approach, income approach and cost approach valuation methodologies. Inputs used in the methodologies primarily included projected future cash flows, discounted at a rate commensurate with the risk involved. | |||||||
During the 2013 annual impairment of goodwill test, the Company recognized a $5 million impairment loss as the carrying amount of Eris's goodwill exceeded its implied fair value. See Note 1 for additional information regarding the Company's annual impairment of goodwill testing. | |||||||
Unaudited pro forma results of operations assuming this acquisition had taken place at the beginning of each period are not provided as this acquisition does not meet the definition of a material business combination. | |||||||
Power Analog Microelectronics, Inc. | |||||||
On October 29, 2012, the Company acquired Power Analog Microelectronics, Inc. (“PAM”) for $16 million, $3 million of which was held back and will be paid over the next two years subject to the satisfaction of certain terms and conditions. PAM is a provider of advanced analog and high-voltage power ICs, and its product portfolio includes Class D audio amplifiers, DC-DC converters and LED backlighting drivers. PAM was founded in Silicon Valley in 2004 and has technical and business centers in Shanghai, Shenzhen, Taipei and Tokyo. | |||||||
The Company acquired PAM as it believes PAM will strengthen its position as a global provider of high-quality analog products by expanding Diodes' product portfolio with innovative 'filter-less' digital audio amplifiers, application-specific power management ICs, as well as high-performance LED drivers and DC-DC converters. | |||||||
The Company recorded $9 million of goodwill (which is not deductible for tax purposes) and $6 million of intangible assets associated with this acquisition. The intangible assets associated with this acquisition consist of finite-lived intangibles for developed technology and customer relationships to be amortized on a straight-line basis over a period of 3 to 12 years. The fair value of the significant identified intangible assets was estimated by using the market approach, income approach and cost approach valuation methodologies. Inputs used in the methodologies primarily included projected future cash flows, discounted at a rate commensurate with the risk involved. | |||||||
The consolidated revenue for PAM for the year ended December 31, 2012 was approximately $1 million. Unaudited pro forma results of operations assuming this acquisition had taken place at the beginning of each period are not provided as this acquisition does not meet the definition of a material business combination. |
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data (Text Block) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | ||||||||||||
Selected Quarterly Financial Data [Text Block] | ' | ||||||||||||
NOTE 18 – SELECTED QUARTERLY FINANCIAL DATA (Unaudited) | |||||||||||||
Quarter Ended | |||||||||||||
31-Mar | 30-Jun | Sept. 30 | Dec. 31 | ||||||||||
Fiscal 2013 | |||||||||||||
Net sales | $ | 176,964 | $ | 214,379 | $ | 224,510 | $ | 210,993 | |||||
Gross profit | 46,183 | 61,293 | 69,559 | 60,801 | |||||||||
Net income (loss) attributable to common shareholders | -1,926 | 8,635 | 13,619 | 6,204 | |||||||||
Earnings (loss) per share attributable to common shareholders | |||||||||||||
Basic | $ | -0.04 | $ | 0.19 | $ | 0.29 | $ | 0.13 | |||||
Diluted | -0.04 | 0.18 | 0.28 | 0.13 | |||||||||
Quarter Ended | |||||||||||||
31-Mar | 30-Jun | Sept. 30 | Dec. 31 (i) | ||||||||||
Fiscal 2012 | |||||||||||||
Net sales | $ | 144,663 | $ | 159,239 | $ | 166,617 | $ | 163,287 | |||||
Gross profit | 33,706 | 41,028 | 43,605 | 43,247 | |||||||||
Net income attributable to common shareholders | 4,871 | 6,653 | 8,553 | 4,075 | |||||||||
Earnings per share attributable to common shareholders | |||||||||||||
Basic | $ | 0.11 | $ | 0.15 | $ | 0.19 | $ | 0.09 | |||||
Diluted | 0.1 | 0.14 | 0.18 | 0.09 | |||||||||
Note: The sum of the quarterly earnings per share may not equal the full year amount, as the computations of the weighted average number of common shares outstanding for each quarter and for the full year are performed independently. | |||||||||||||
In the fourth quarter of 2012, a correction of the 2011 foreign tax credits valuation allowance was recorded. | |||||||||||||
Summary_of_Operations_and_Sign1
Summary of Operations and Significant Accounting Policies (Policy Text Block) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Nature Of Operations Basis Of Presentation And Recently Issued Accounting Pronouncements [Abstract] | ' | |||||||||
Nature Of Operations [Text Block] | ' | |||||||||
Nature of operations – Diodes Incorporated and its subsidiaries (collectively, the “Company”) is a leading global manufacturer and supplier of high-quality, application specific standard products within the broad discrete, logic and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. These products include diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors, power management devices including LED drivers, DC-DC switching and linear voltage regulators and voltage references along with special function devices including USB power switches, load switches, voltage supervisors and motor controllers. The products are sold primarily throughout Asia, North America and Europe. | ||||||||||
Principles of consolidation [Policy Text Block] | ' | |||||||||
Principles of consolidation – The consolidated financial statements include the accounts of Diodes Incorporated, its wholly-owned subsidiaries and its controlled majority-owned subsidiaries. The Company accounts for equity investments in companies over which it has the ability to exercise significant influence, but does not hold a controlling interest, under the equity method, and it records its proportionate share of income or losses in interest and other, net in the consolidated statements of income. All significant intercompany balances and transactions have been eliminated. | ||||||||||
Revenue recognition [Policy Text Block] | ' | |||||||||
Revenue recognition – Revenue is recognized when there is persuasive evidence that an arrangement exists, when delivery has occurred, when the price to the buyer is fixed or determinable and when collectability of the receivable is reasonably assured. These elements are met when title to the products is passed to the buyers, which is generally when product is shipped to the customers. Generally, the Company recognizes revenue upon shipment to manufacturers (direct ship) as well as upon sales to distributors using the "sell in" model, which is when product is shipped to the distributors (point of purchase). | ||||||||||
Certain customers have limited rights of return and/or are entitled to price adjustments on products held in their inventory or upon sale to their end customers. The Company reduces net sales in the period of sale for estimates of product returns, distributor price adjustments and other allowances. The Company's reserve estimates are based upon historical data as well as projections of sales, distributor inventories, price adjustments, average selling prices and market conditions. | ||||||||||
The Company records allowances/reserves for the following items: (i) ship and debit, which arise when the Company, from time to time based on market conditions, issues credit to certain distributors upon their shipments to their end customers, (ii) stock rotation, which are contractual obligations that permit certain distributors, up to four times a year, to return a portion of their inventory based on historical shipments to them in exchange for an equal and offsetting order, and (iii) price protection, which arise when market conditions cause average selling prices to decrease and the Company issues credit to certain distributors on their inventory. | ||||||||||
Ship and debit reserves are recorded as a reduction to net sales with a corresponding reduction to accounts receivable. Stock rotation reserves are recorded as a reduction to net sales with a corresponding reduction to cost of goods sold for the estimated cost of inventory that is expected to be returned. Price protection reserves are recorded as a reduction to net sales with a corresponding increase in accrued liabilities. Revenue is reduced in the period of sale for estimates of product returns and other allowances including distributor adjustments, which were approximately $68 million, $48 million and $41 million in 2013, 2012 and 2011, respectively. | ||||||||||
Product warranty [Policy Text Block] | ' | |||||||||
Product warranty – The Company generally warrants its products for a period of one year from the date of sale. Historically, warranty expense has not been material. | ||||||||||
Cash And Cash Equivalents [Policy Text Block] | ' | |||||||||
Cash and cash equivalents – The Company considers all highly liquid investments with maturity of three months or less at the date of purchase to be cash equivalents. The Company currently maintains substantially all of its day-to-day operating cash balances with major financial institutions. | ||||||||||
Allowance for doubtful accounts [Policy Text Block] | ' | |||||||||
Allowance for doubtful accounts – The Company evaluates the collectability of its accounts receivable based upon a combination of factors, including the current business environment and historical experience. If the Company is aware of a customer's inability to meet its financial obligations, it records an allowance to reduce the receivable to the amount it reasonably believes will be collected from the customer. For all other customers, the Company records an allowance based upon the amount of time the receivables are past due. If actual accounts receivable collections differ from these estimates, an adjustment to the allowance may be necessary with a resulting effect on operating expense. Accounts receivable are presented net of valuation allowance, which were approximately $2 million in 2013, 2012 and 2011. | ||||||||||
Inventories [Policy Text Block] | ' | |||||||||
Inventories – Inventories are stated at the lower of cost or market value. Cost is determined principally by the first-in, first-out method. Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Any write-down of inventory to the lower of cost or market at the close of a fiscal period creates a new cost basis that subsequently would not be marked up based on changes in underlying facts and circumstances. On an on-going basis, the Company evaluates inventory for obsolescence and slow-moving items. This evaluation includes analysis of sales levels, sales projections, and purchases by item, as well as raw material usage related to the Company's manufacturing facilities. If the Company's review indicates a reduction in utility below carrying value, it reduces inventory to a new cost basis. If future demand or market conditions are different than the Company's current estimates, an inventory adjustment to write down inventory may be required, and would be reflected in cost of goods sold in the period the revision is made. | ||||||||||
Property, plant and equipment [Policy Text Block] | ' | |||||||||
Property, plant and equipment – Purchased property, plant and equipment is recorded at historical cost and acquired property, plant and equipment is recorded at fair value on the date of acquisition. Property, plant and equipment is depreciated using straight-line methods over the estimated useful lives, which range from 20 to 55 years for buildings and 3 to 10 years for machinery and equipment. The estimated lives of leasehold improvements range from 3 to 5 years, and are amortized over the shorter of the remaining lease term or their estimated useful lives. | ||||||||||
Goodwill and other indefinite lived intangible assets [Policy Text Block] | ' | |||||||||
Goodwill and other indefinite lived intangible assets – Goodwill is tested for impairment on an annual basis, on October 1, and between annual tests if indicators of potential impairment exist. For 2013 and 2012, the Company used the simplified goodwill impairment test, which allows the Company to first assess qualitatively whether it is necessary to perform step one of the two-step annual goodwill impairment test. The Company is required to perform step one and calculate the fair value of its reporting units only if the Company concludes that it is more likely than not (that is, a likelihood of more than 50%) that a reporting unit's fair value is less than its carrying value. The qualitative analysis, which is referred to as step zero, was performed and the Company considered all relevant factors specific to its reporting units. Some factors considered in step zero were macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, events affecting a reporting unit and other relevant entity-specific events. | ||||||||||
For 2013, the Company's step zero conclusion was that goodwill is more likely than not to be not impaired and no further testing is required until the next annual test date (or sooner if conditions or events before that date raise concerns of potential impairment in the business) for all reporting units except for one. The reporting unit for Eris Technology Corporation failed the step zero test. Therefore, its goodwill and other indefinite lived intangible assets were tested using the two-step process. The first step required comparison of the fair value of the reporting unit to the respective carrying value. The reporting unit failed step one as the fair value of the reporting unit was less than the carrying value. The second step was then performed to compute the amount of impairment, if any. In the second step, the impairment was computed by comparing the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. In this case, the carrying amount of the reporting unit's goodwill exceeded its implied fair value, and therefore an impairment loss was recognized for the excess in the amount of $5 million. In addition, all the other indefinite lived assets, such as trade name for Eris were not impaired. | ||||||||||
For 2012, the Company's conclusion of step zero was that goodwill is deemed to be not impaired and no further testing was required until the next annual test date. | ||||||||||
Impairment of long-lived assets [Policy Text Block] | ' | |||||||||
Impairment of long-lived assets – The Company's long-lived assets are reviewed whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company considers assets to be impaired if the carrying value exceeds the undiscounted projected cash flows from operations. If impairment exists, the assets are written down to fair value or to the projected discounted cash flows from related operations. As of December 31, 2013, the Company expects the remaining carrying value of assets to be recoverable. No impairment of long-lived assets has been identified during any of the periods presented. The weighted average amortization period for amortizable intangible assets is approximately 8 years. | ||||||||||
Business combinations [Policy Text Block] | ' | |||||||||
Business combinations – The Company recognizes all (and only) the assets acquired and liabilities assumed in the transaction and establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed in a business combination. Certain provisions prescribe, among other things, the determination of acquisition-date fair value of consideration paid in a business combination (including contingent consideration) and the exclusion of transaction and acquisition-related restructuring costs from acquisition accounting. | ||||||||||
Income taxes [Policy Text Block] | ' | |||||||||
Income taxes – Income taxes are accounted for using an asset and liability approach whereby deferred tax assets and liabilities are recorded for differences in the financial reporting bases and tax bases of the Company's assets and liabilities. If it is more likely than not that some portion of deferred tax assets will not be realized, a valuation allowance is recorded. | ||||||||||
Generally accepted accounting principles in the United States of America (“GAAP”) prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Tax positions shall initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions shall initially and subsequently be measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and all relevant facts. | ||||||||||
Research and development costs [Policy Text Block] | ' | |||||||||
Research and development costs – Internally-developed research and development costs are expensed as incurred. Acquired in-process research and development (“IPR&D”) is capitalized as an indefinite-lived intangible asset and evaluated periodically for impairment. When the project is completed, an expected life is determined and the IPR&D is amortized as an expense over the expected life. | ||||||||||
Shipping and handling costs [Policy Text Block] | ' | |||||||||
Shipping and handling costs – Shipping and handling costs for products shipped to customers, which are included in selling, general and administrative expenses, were $10 million, $6 million and $5 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Concentration of credit risk [Policy Text Block] | ' | |||||||||
Concentration of credit risk – Financial instruments, which potentially subject the Company to concentrations of credit risk, include trade accounts receivable. Credit risk is limited by the dispersion of the Company's customers over various geographic areas, operating primarily in electronics manufacturing and distribution. The Company performs on-going credit evaluations of its customers, and generally requires no collateral. Historically, credit losses have not been significant. | ||||||||||
The Company currently maintains substantially all of its day-to-day cash balances and short-term investments with major financial institutions. Cash balances are usually in excess of Federal and/or foreign deposit insurance limits. | ||||||||||
Valuation of financial instruments [Policy Text Block] | ' | |||||||||
Valuation of financial instruments – The carrying value of the Company's financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, working capital line of credit, and long-term debt approximate fair value due to their current market conditions, maturity dates and other factors. | ||||||||||
Use of estimates [Policy Text Block] | ' | |||||||||
Use of estimates – The preparation of financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. Actual results may differ from these estimates in amounts that may be material to the consolidated financial statements and accompanying notes. | ||||||||||
Earnings per share [Policy Text Block] | ' | |||||||||
Earnings per share – Basic earnings per share is calculated by dividing net earnings attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted earnings per share is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. Earnings per share are computed using the “treasury stock method.” | ||||||||||
For the three years ended December 31, 2013, 2012 and 2011, options and share grants outstanding for 2 million shares, of common stock have been excluded from the computation of diluted earnings per share because their effect was anti-dilutive. | ||||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Basic | ||||||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing basic earnings per share | 46,363 | 45,780 | 45,202 | |||||||
Net income attributable to common stockholders | $ | 26,532 | $ | 24,152 | $ | 50,737 | ||||
Basic earnings per share attributable | ||||||||||
to common stockholders | $ | 0.57 | $ | 0.53 | $ | 1.12 | ||||
Diluted | ||||||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing basic earnings per share | 46,363 | 45,780 | 45,202 | |||||||
Add: Assumed exercise of stock options and stock awards | 1,295 | 1,119 | 1,511 | |||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing diluted earnings per share | 47,658 | 46,899 | 46,713 | |||||||
Net income attributable to common stockholders | $ | 26,532 | $ | 24,152 | $ | 50,737 | ||||
Diluted earnings per share attributable | ||||||||||
to common stockholders | $ | 0.56 | $ | 0.51 | $ | 1.09 | ||||
Share based compensation [Policy Text Block] | ' | |||||||||
Share-based compensation – The Company uses the Black-Scholes-Merton model to determine the fair value of stock options on the date of grant and recognizes compensation expense for stock options on a straight-line basis. Restricted stock grants are measured based on the fair market value of the underlying stock on the date of grant and compensation expense for restricted stock grants is recognized on a straight-line basis over the requisite service period. | ||||||||||
The amount of compensation expense recognized using the Black-Scholes-Merton model requires the Company to exercise judgment and make assumptions relating to the factors that determine the fair value of its stock option grants. The fair value calculated by this model is a function of several factors, including the grant price, the expected future volatility, the expected term of the option and the risk-free interest rate of the option. The expected term and expected future volatility of the options require judgment. In addition, the Company is required to estimate the expected forfeiture rate and only recognize expense for those stock options expected to vest. The Company estimates the forfeiture rate based on historical experience, and to the extent its actual forfeiture rate is different from its estimate, share-based compensation expense is adjusted accordingly. | ||||||||||
Functional currencies and foreign currency translation [Policy Text Block] | ' | |||||||||
Functional currencies and foreign currency translation – The functional currency for most of the Company's international operations is the U.S. dollar. In some cases, the Company enters into transactions involving foreign currencies. Some subsidiaries functional currency is their local currency, as the Company believes it is the appropriate currency. The Company believes the New Taiwan (“NT”) dollar is the functional currency for its Taiwan based entities and the British Pound Sterling (“GBP”) is the functional currency for its U.K. based entities, which most appropriately reflects the current economic facts and circumstances of their operations. Assets and liabilities denominated in foreign currencies are translated at the exchange rate on the balance sheet date. Income and expense accounts denominated in foreign currencies are translated at the weighted-average exchange rate during the period presented. Resulting translation adjustments are recorded as a separate component of accumulated other comprehensive income or loss within stockholders' equity in the consolidated balance sheets. Included in other income are foreign exchange losses of $1 million, $2 million and $1 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
The Company uses the U.S. dollar as the functional currency for its Hong Kong based entities and the majority of its mainland China entities as substantially all monetary transactions are made in U.S. dollars, and other significant economic facts and circumstances currently support that position. Some of the Company's mainland China entities use the Chinese Yuan. As these factors may change in the future, the Company periodically assesses its position with respect to the functional currency of its foreign subsidiaries. | ||||||||||
Defined benefit plan [Policy Text Block] | ' | |||||||||
Defined benefit plan – The Company maintains pension plans covering certain of its employees in the U.K. The overfunded or underfunded status of pension and postretirement benefit plans are recognized on the balance sheet. Actuarial gains and losses, prior service costs or credits, are recognized in other comprehensive income (loss), net of tax effects, until they are amortized as a component of net periodic benefit cost. For financial reporting purposes, the net pension and supplemental retirement benefit obligations and the related periodic pension costs are calculated based upon, among other things, assumptions of the discount rate for plan obligations, estimated return on pension plan assets and mortality rates. These obligations and related periodic costs are measured using actuarial techniques and assumptions. The projected unit credit method is the actuarial cost method used to compute the pension liabilities and related expenses. | ||||||||||
Investment in joint venture [Policy Text Block] | ' | |||||||||
Investment in joint ventures – Investment in joint ventures over which the Company does have the ability to exercise significant influence and that, in general, are at least 20 percent owned are stated at cost plus equity in undistributed net income (loss) of the joint venture. These investments are evaluated for impairment, in which an impairment loss would be recorded whenever a decline in the value of an equity investment below its carrying amount is determined to be “other than temporary.” In judging "other than temporary," the Company would consider the length of time and extent to which the fair value of the investment has been less than the carrying amount of the investment, the near-term and longer-term operating and financial prospects of the investee, and the Company's longer-term intent of retaining the investment in the investee. | ||||||||||
Noncontrolling interest [Policy Text Block] | ' | |||||||||
Noncontrolling interest - Noncontrolling interest (previously referred to as minority interest) primarily relates to the minority investors' share of the earnings of certain China and Taiwan subsidiaries. Noncontrolling interests are a separate component of equity and not a liability, the amount of which increases or decreases with changes in the Company's ownership interest of the subsidiaries, that leave control intact, be treated as equity transactions, rather than step acquisitions or diluted gain or losses. The noncontrolling interest in the Company's subsidiaries and their equity balances are reported separately in the consolidated financial statements, and activities of these subsidiaries are included therein. | ||||||||||
Contingencies [Policy Text Block] | ' | |||||||||
Contingencies – From time to time, the Company may be involved in a variety of legal matters that arise in the normal course of business. Based on information available, the Company evaluates the likelihood of potential outcomes. The Company records the appropriate liability when the amount is deemed probable and reasonably estimable. In addition, the Company does not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. | ||||||||||
Comprehensive income (loss) [Policy Text Block] | ' | |||||||||
Comprehensive income (loss) – GAAP generally requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as separate components of the equity section of the consolidated balance sheet, such items, along with net income, are components of comprehensive income or loss. The components of accumulated other comprehensive income or loss include foreign currency translation adjustments and unrealized gain or loss on defined benefit plan. Accumulated other comprehensive loss was $(44) million, $(34) million and $(36) million at December 31, 2013, 2012 and 2011, respectively. | ||||||||||
There is no income tax expense or benefit associated with each component of comprehensive income. As of December 31, 2013, the accumulated balance for each component of comprehensive income are as follows: | ||||||||||
2013 | 2012 | |||||||||
Translation adjustment | ($16,210) | ($22,663) | ||||||||
Unrealized loss on defined benefit plan | ($28,164) | ($11,193) | ||||||||
Reclassifications [Policy Text Block] | ' | |||||||||
Reclassifications – Certain amounts from prior periods have been reclassified to conform to the current years' presentation such as schedules included in the notes to consolidated financial statements. | ||||||||||
Recently issued accounting pronouncements [Text Block] | ' | |||||||||
Recently issued accounting pronouncements – In March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. ASU No. 2013-05 provides additional guidance with respect to the reclassification into income of the cumulative translation adjustment (“CTA”) recorded in accumulated other comprehensive income associated with a foreign entity of a parent company. This ASU differentiates between transactions occurring within a foreign entity and transactions affecting an investment in a foreign entity. For transactions within a foreign entity, the full CTA associated with the foreign entity would be reclassified into income only when the sale of a subsidiary or group of net assets within the foreign entity represents the substantially complete liquidation of that foreign entity. For transactions affecting an investment in a foreign entity (for example, control or ownership of shares in a foreign entity), the full CTA associated with the foreign entity would be reclassified into income only if the parent no longer has a controlling interest in that foreign entity as a result of the transaction. In addition, acquisitions of a foreign entity completed in stages (also known as step acquisitions) could trigger the release of CTA associated with an equity method investment in that entity at the point a controlling interest in the foreign entity is obtained. This ASU is effective prospectively beginning January 1, 2014, with early adoption permitted. This ASU could impact the Company's consolidated financial results in the event of a transaction as described above. | ||||||||||
In July 2013, the FASB, issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU No. 2013-11 provides that an entity is required to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. If a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU No. 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this guidance affects presentation only and, therefore, it is not expected to have a material impact on the Company's consolidated financial results. |
Summary_of_Operations_and_Sign2
Summary of Operations and Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Table Text Block] | ' | |||||||||
Year Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Basic | ||||||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing basic earnings per share | 46,363 | 45,780 | 45,202 | |||||||
Net income attributable to common stockholders | $ | 26,532 | $ | 24,152 | $ | 50,737 | ||||
Basic earnings per share attributable | ||||||||||
to common stockholders | $ | 0.57 | $ | 0.53 | $ | 1.12 | ||||
Diluted | ||||||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing basic earnings per share | 46,363 | 45,780 | 45,202 | |||||||
Add: Assumed exercise of stock options and stock awards | 1,295 | 1,119 | 1,511 | |||||||
Weighted average number of common shares outstanding | ||||||||||
used in computing diluted earnings per share | 47,658 | 46,899 | 46,713 | |||||||
Net income attributable to common stockholders | $ | 26,532 | $ | 24,152 | $ | 50,737 | ||||
Diluted earnings per share attributable | ||||||||||
to common stockholders | $ | 0.56 | $ | 0.51 | $ | 1.09 | ||||
Comprehensive Income [Abstract] | ' | |||||||||
Schedule Of Accumulated Other Comprehensive Income Loss [Table Text Block] | ' | |||||||||
2013 | 2012 | |||||||||
Translation adjustment | ($16,210) | ($22,663) | ||||||||
Unrealized loss on defined benefit plan | ($28,164) | ($11,193) |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Measurement Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Financial Assets At Fair Value [Table Text Block] | ' | |||||||||||||||
Financial assets and liabilities carried at fair value as of December 31, 2013 are classified in the following table: | ||||||||||||||||
Description | Fair Market Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Changes in Fair Values Included in Current Period Earnings | |||||||||||
Trading securities | $ | 5,634 | $ | 5,634 | $ | - | $ | - | $ | 235 | ||||||
Short-term investments | 22,922 | - | 22,922 | - | - | |||||||||||
Financial assets and liabilities carried at fair value as of December 31, 2012 are classified in the following table: | ||||||||||||||||
Trading Securities | Fair Market Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Changes in Fair Values Included in Current Period Earnings | |||||||||||
BCD common stock | $ | 7,092 | $ | 7,092 | $ | - | $ | - | $ | 3,679 |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventories [Abstract] | ' | |||||
Schedule Of Inventory Current [Table Text Block] | ' | |||||
2013 | 2012 | |||||
Finished goods | $ | 67,487 | $ | 59,319 | ||
Work-in-progress | 43,031 | 30,564 | ||||
Raw materials | 69,878 | 63,410 | ||||
$ | 180,396 | $ | 153,293 |
Property_Plant_and_Equipment_T1
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Property Plant and Equipment [Abstract] | ' | ||||
Schedule Of Property Plant And Equipment [Table Text Block] | ' | ||||
2013 | 2012 | ||||
Buildings and leasehold improvements | $ | 107,342 | $ | 53,068 | |
Machinery and equipment | 549,971 | 465,106 | |||
657,313 | 518,174 | ||||
Less: Accumulated depreciation | |||||
and amortization | -386,455 | -322,403 | |||
270,858 | 195,771 | ||||
Construction in-progress | 34,922 | 31,227 | |||
Land | 16,233 | 16,298 | |||
$ | 322,013 | $ | 243,296 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Intangible Assets [Abstract] | ' | |||||||||
Schedule Of Intangible Assets [Table Text Block] | ' | |||||||||
31-Dec-13 | ||||||||||
Intangible Assets | Useful life | Gross Carrying Amount | Accumulated Amortization | Currency Exchange | Net | |||||
Amortized intangible assets: | ||||||||||
Patents | 5-15 years | $ | 11,812 | $ | -6,274 | $ | -228 | $ | 5,310 | |
Software license | 3 years | 1,212 | -1,149 | -63 | - | |||||
Developed product technology | 2-10 years | 53,508 | -20,654 | -5,516 | 27,338 | |||||
Customer relationships | 12 years | 20,393 | -4,168 | -1,193 | 15,032 | |||||
Total amortized intangible assets: | $ | 86,925 | $ | -32,245 | $ | -7,000 | $ | 47,680 | ||
Intangible assets with indefinite lives: | ||||||||||
Trademarks and trade names | Indefinite | $ | 6,403 | $ | - | $ | -512 | $ | 5,891 | |
Total Intangible assets with indefinite lives: | $ | 6,403 | $ | - | $ | -512 | $ | 5,891 | ||
Total intangible assets: | $ | 93,328 | $ | -32,245 | $ | -7,512 | $ | 53,571 | ||
31-Dec-12 | ||||||||||
Intangible Assets | Useful life | Gross Carrying Amount | Accumulated Amortization | Currency Exchange and Other | Net | |||||
Amortized intangible assets: | ||||||||||
Patents | 5-15 years | $ | 11,795 | $ | -5,393 | $ | -273 | $ | 6,129 | |
Software license | 3 years | 1,212 | -1,149 | -63 | - | |||||
Developed product technology | 2-10 years | 42,408 | -15,316 | -5,481 | 21,611 | |||||
Customer relationships | 12 years | 14,292 | -2,303 | -1,234 | 10,755 | |||||
Total amortized intangible assets: | $ | 69,707 | $ | -24,161 | $ | -7,051 | $ | 38,495 | ||
Intangible assets with indefinite lives: | ||||||||||
Trademarks and trade names | Indefinite | $ | 6,403 | $ | - | $ | -561 | $ | 5,842 | |
Total Intangible assets with indefinite lives: | $ | 6,403 | $ | - | $ | -561 | $ | 5,842 | ||
Total intangible assets: | $ | 76,110 | $ | -24,161 | $ | -7,612 | $ | 44,337 | ||
Schedule Of Expected Amortization Expense [Table Text Block] | ' | |||||||||
Years | ||||||||||
2014 | $ | 7,973 | ||||||||
2015 | 7,513 | |||||||||
2016 | 7,121 | |||||||||
2017 | 6,466 | |||||||||
2018 | 5,402 |
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Goodwill [Abstract] | ' | ||
Schedule Of Goodwill [Table Text Block] | ' | ||
Balance at December 31, 2011 | $ | 67,818 | |
Acquisitions | 16,913 | ||
Currency exchange | 2,628 | ||
Balance at December 31, 2012 | $ | 87,359 | |
Acquisitions | 2,518 | ||
Impairment | -5,318 | ||
Currency exchange | 155 | ||
Balance at December 31, 2013 | $ | 84,714 |
Bank_Credit_Agreements_and_Lon1
Bank Credit Agreements and Long-Term Debt (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-term debt by current and noncurrent [Abstract] | ' | ||||||
Schedule Of Debt [Table Text Block] | ' | ||||||
2013 | Outstanding at December 31, | ||||||
Lines of Credit | Terms | 2013 | 2012 | ||||
$ | 112,023 | Unsecured, interest at LIBOR plus margin, due quarterly | $ | 5,814 | $ | 5,629 | |
- | Secured, interest at LIBOR plus margin, due monthly | - | 2,000 | ||||
$ | 112,023 | $ | 5,814 | $ | 7,629 | ||
Long-term debt – The balances as of December 31, consist of the following: | |||||||
2013 | 2012 | ||||||
Notes payable to Taiwan bank, principal amount of TWD 158 million, variable interest (approximately 2.1% and 3.3% as of December 31, 2013 and 2012, respectively), of which TWD 132 million matures on July 6, 2021, and TWD 26 million matured July 6, 2013, secured by land and building. | 2,500 | 2,979 | |||||
Notes payable to Taiwan banks, variable interest between 1.8% and 2.5% as of December 31, 2013, maturity dates range from 2013 to 2023, secured by land, building and equipment. | 2,426 | 2,215 | |||||
Revolver | 179,000 | - | |||||
Term Loan | - | 40,000 | |||||
Total long-term debt | 183,926 | 45,194 | |||||
Less: Current portion | -1,127 | -1,063 | |||||
Long-term debt, net of current portion | $ | 182,799 | $ | 44,131 | |||
Schedule Of Maturities Of Long Term Debt [Table Text Block] | ' | ||||||
The annual contractual maturities of long-term debt at December 31, 2013 are as follows | |||||||
2014 | 1,127 | ||||||
2015 | 1,132 | ||||||
2016 | 567 | ||||||
2017 | 555 | ||||||
2018 | 179,561 | ||||||
Thereafter | 984 | ||||||
Total long-term debt | $183,926 | ||||||
Schedule of Convertible Senior Notes Interest Expense [Table Text Block] | ' | ||||||
2011 | |||||||
Notes contractual interest expense | $ | 2,267 | |||||
Amortization of debt discount | 6,032 | ||||||
Amortization of debt issuance costs | 412 | ||||||
Total | $ | 8,711 |
Capital_Lease_Obligations_Tabl
Capital Lease Obligations (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Capital Lease Obligations Abstract | ' | ||
Schedule Of Future Minimum Lease Payments For Capital Leases [Table Text Block] | ' | ||
For years ending December 31, | |||
2014 | $305 | ||
2015 | 195 | ||
2016 | 185 | ||
2017 | 19 | ||
704 | |||
Less: Interest | -40 | ||
Present value of minimum lease payments | 664 | ||
Less: Current portion | -280 | ||
Long-term portion | $384 |
Accrued_Liabilites_and_Other_L1
Accrued Liabilites and Other Long-Term Liabilities (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accrued Liabilities Current And Noncurrent Abstract | ' | |||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||
Accrued liabilities and other current liabilities at December 31 were | ||||||
2013 | 2012 | |||||
Compensation and payroll taxes | $ | 22,414 | $ | 12,837 | ||
Accrued expenses | 23,159 | 12,338 | ||||
Accrued pricing adjustments | 2,891 | 1,304 | ||||
Equipment purchases | 7,395 | 7,081 | ||||
Accrued professional services | 2,215 | 2,512 | ||||
Other | 2,610 | 5,067 | ||||
$ | 60,684 | $ | 41,139 | |||
Schedule Of Other Long Term Liabilities [Table Text Block] | ' | |||||
Other long-term liabilities at December 31 were: | ||||||
2013 | 2012 | |||||
Accrued defined benefit plan | $ | 32,749 | $ | 17,853 | ||
Unrecognized tax benefits | 20,710 | 14,591 | ||||
Income tax contingencies | 9,829 | - | ||||
Deferred compensation | 3,535 | 2,213 | ||||
Other | 12,043 | 7,317 | ||||
$ | 78,866 | $ | 41,974 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Provision [Abstract] | ' | ||||||||||||
Schedule Of Components Of Income Tax Expense Benefit [Table Text Block] | ' | ||||||||||||
Income before income taxes | 2013 | 2012 | 2011 | ||||||||||
U.S. | $ | -12,936 | $ | -24,411 | $ | -28,238 | |||||||
Foreign | 51,521 | 55,218 | 91,902 | ||||||||||
Total | $ | 38,585 | $ | 30,807 | $ | 63,664 | |||||||
The components of the income tax provision (benefit) are as follows | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax provision (benefit) | |||||||||||||
Federal | $ | 1,315 | $ | 1,424 | $ | 14,049 | |||||||
Foreign | 9,270 | 10,756 | 18,324 | ||||||||||
State | -187 | 142 | 214 | ||||||||||
10,398 | 12,322 | 32,587 | |||||||||||
Deferred tax provision (benefit) | |||||||||||||
Federal | -1,531 | -8,784 | -20,906 | ||||||||||
Foreign | -2,197 | -3,247 | -1,165 | ||||||||||
State | 9 | 317 | -466 | ||||||||||
-3,719 | -11,714 | -22,537 | |||||||||||
Liability for unrecognized tax benefits | 7,802 | 4,217 | 107 | ||||||||||
Total income tax provision | $ | 14,481 | $ | 4,825 | $ | 10,157 | |||||||
Schedule Of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Percent | Percent | Percent | |||||||||||
of pretax | of pretax | of pretax | |||||||||||
Amount | earnings | Amount | earnings | Amount | earnings | ||||||||
Federal tax | $ | 13,505 | 35 | $ | 10,783 | 35 | $ | 22,282 | 35 | ||||
State income taxes, net of federal tax provision (benefit) | 29 | 0.1 | 213 | 0.7 | -366 | -0.6 | |||||||
Foreign income taxed at lower tax rates (1) | -8,363 | -21.7 | -15,515 | -50.4 | -6,356 | -10 | |||||||
U.S. tax impact of foreign operations | 911 | 2.4 | 496 | 1.6 | 1,115 | 1.8 | |||||||
Foreign tax credits, net of valuation allowance (2) | - | - | 3,135 | 10.2 | -5,843 | -9.2 | |||||||
Goodwill impairment | 904 | 2.3 | - | - | - | - | |||||||
Research and development | -2,294 | -5.9 | - | - | - | - | |||||||
Liability for unrecognized tax benefits | 7,802 | 20.2 | 4,217 | 13.7 | 107 | 0.2 | |||||||
U.S. provision-to-return adjustments | 554 | 1.4 | -102 | -0.3 | -167 | -0.3 | |||||||
Other | 1,433 | 3.7 | 1,598 | 5.2 | -615 | -1 | |||||||
Income tax provision | $ | 14,481 | 37.5 | $ | 4,825 | 15.7 | $ | 10,157 | 15.9 | ||||
Summary Of Positions For Which Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Table Text Block] | ' | ||||||||||||
2013 | 2012 | ||||||||||||
Balance at January 1, | $14,591 | $10,177 | |||||||||||
Additions based on tax positions related to the current year | 3,659 | 1,593 | |||||||||||
Additions for prior years tax positions | 10,206 | 3,945 | |||||||||||
Reductions for prior years tax positions | -7,746 | -1,124 | |||||||||||
Balance at December 31, | $20,710 | $14,591 | |||||||||||
Schedule Of Deferred Tax Assets And Liabilities [Table Text Block] | ' | ||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets, current | |||||||||||||
Inventory cost | $ | 6,113 | $ | 6,158 | |||||||||
Accrued expenses and accounts receivable | 2,422 | 2,047 | |||||||||||
Share based compensation and others | 1,978 | 1,790 | |||||||||||
Total deferred tax assets, current | $ | 10,513 | $ | 9,995 | |||||||||
Deferred tax assets, non-current | |||||||||||||
Foreign tax credits | $ | 20,911 | $ | 20,537 | |||||||||
Research and development tax credits | 5,460 | 4,331 | |||||||||||
Net operating loss carryforwards | 13,130 | 13,977 | |||||||||||
Accrued pension | 17,110 | 10,089 | |||||||||||
Share based compensation and others | 18,371 | 21,811 | |||||||||||
74,982 | 70,745 | ||||||||||||
Valuation allowances | -35,908 | -27,022 | |||||||||||
Total deferred tax assets, non-current | 39,074 | 43,723 | |||||||||||
Deferred tax liabilities, non-current | |||||||||||||
Plant, equipment and intangible assets | -10,837 | -6,904 | |||||||||||
Total deferred tax liabilities, non-current | -10,837 | -6,904 | |||||||||||
Net deferred tax assets, non-current | $ | 28,237 | $ | 36,819 |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||
Schedule Of Net Benefit Costs [Table Text Block] | ' | ||||||||||||
Defined Benefit Plan | |||||||||||||
Components of net periodic benefit cost: | 2013 | 2012 | |||||||||||
Service cost | $ | 313 | $ | 317 | |||||||||
Interest cost | 5,384 | 5,638 | |||||||||||
Recognized actuarial loss | 239 | -70 | |||||||||||
Expected return on plan assets | -5,556 | -5,446 | |||||||||||
Net periodic benefit cost | $ | 380 | $ | 439 | |||||||||
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||
Defined Benefit Plan | |||||||||||||
2013 | 2012 | ||||||||||||
Change in benefit obligation: | |||||||||||||
Beginning balance | $ | 124,751 | $ | 109,877 | |||||||||
Service cost | 313 | 317 | |||||||||||
Interest cost | 5,384 | 5,638 | |||||||||||
Actuarial gain (loss) | 21,765 | 7,134 | |||||||||||
Benefits paid | -6,719 | -3,506 | |||||||||||
Settlements | 240 | - | |||||||||||
Currency changes | 3,582 | 5,291 | |||||||||||
Benefit obligation at December 31 | $ | 149,316 | $ | 124,751 | |||||||||
Change in plan assets: | |||||||||||||
Beginning balance - fair value | $ | 106,898 | $ | 96,384 | |||||||||
Employer contribution | 2,960 | 1,904 | |||||||||||
Actual return on plan assets | 10,987 | 7,536 | |||||||||||
Benefits paid | -6,719 | -3,506 | |||||||||||
Currency changes | 2,441 | 4,580 | |||||||||||
Fair value of plan assets at December 31 | $ | 116,567 | $ | 106,898 | |||||||||
Underfunded status at December 31 | $ | -32,749 | $ | -17,853 | |||||||||
Schedule of Assumptions Used [Table Text Block] | ' | ||||||||||||
The following weighted-average assumptions were used to determine net periodic benefit costs for the year ended December 31 | |||||||||||||
2013 | 2012 | ||||||||||||
Discount rate | 4.60% | 5.10% | |||||||||||
Expected long-term return on plan assets | 5.90% | 5.60% | |||||||||||
The following weighted-average assumption was used to determine the benefit obligations for the year ended December 31 | |||||||||||||
2013 | 2012 | ||||||||||||
Discount rate | 4.60% | 5.10% | |||||||||||
Schedule Of Allocation Of Plan Assets [Table Text Block] | ' | ||||||||||||
Asset category | Expected long-term return | Assets allocation | |||||||||||
Cash | 0.50% | 2% | |||||||||||
Equity securities | 7.30% | 47% | |||||||||||
Debt securities | 4.10% | 39% | |||||||||||
Target return funds | 7.30% | 12% | |||||||||||
Total | 5.90% | 100% | |||||||||||
Schedule Of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||
Year | |||||||||||||
2014 | $3,975 | ||||||||||||
2015 | 3,975 | ||||||||||||
2016 | 4,571 | ||||||||||||
2017 | 4,621 | ||||||||||||
2018 | 4,803 | ||||||||||||
2019-2023 | 30,921 | ||||||||||||
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | ' | ||||||||||||
31-Dec-13 | |||||||||||||
Assets Category | Level 1 | Level 2 | Level 3 | Total | |||||||||
Cash | $ | 2,173 | $ | - | $ | - | $ | 2,173 | |||||
Equity securities: | |||||||||||||
U.K. | 27,370 | - | - | 27,370 | |||||||||
North America | 9,480 | - | - | 9,480 | |||||||||
Europe (excluding U.K.) | 9,160 | - | - | 9,160 | |||||||||
Japan | 4,003 | - | - | 4,003 | |||||||||
Pacific Basin (excluding Japan) | 3,296 | - | - | 3,296 | |||||||||
Emerging markets | 936 | - | - | 936 | |||||||||
Fixed income securities: | |||||||||||||
Corporate bonds | - | 25,808 | - | 25,808 | |||||||||
Index linked securities: | |||||||||||||
U.K. Treasuries | 20,094 | - | - | 20,094 | |||||||||
Other types of investments: | |||||||||||||
Absolute return funds | 14,247 | - | - | 14,247 | |||||||||
Total | $ | 90,759 | $ | 25,808 | $ | - | $ | 116,567 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Share-Based Compensation [Abstract] | ' | ||||||||||||
Schedule of Share-Based Compensation Expense [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cost of goods sold | $ | 522 | $ | 458 | $ | 394 | |||||||
Selling, general and administrative expense | 11,645 | 12,715 | 12,266 | ||||||||||
Research and development expense | 1,384 | 1,225 | 1,043 | ||||||||||
Total share-based compensation expense | $ | 13,551 | $ | 14,398 | $ | 13,703 | |||||||
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 53.36% | 53.86% | 52.53% | ||||||||||
Expected term (years) | 7.2 | 7.5 | 7.5 | ||||||||||
Risk free interest rate | 1.49% | 1.16% | 2.37% | ||||||||||
Forfeiture rate | 0.78% | 0.76% | 0.47% | ||||||||||
Schedule Of Share Based Compensation Stock Options Activity [Table Text Block] | ' | ||||||||||||
Stock Options | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (years) | Aggregate Intrinsic Value | |||||||||
Outstanding at January 1, 2011 | 3,707 | $ | 14.14 | 5.2 | $ | 47,891 | |||||||
Granted | 385 | 29.07 | |||||||||||
Exercised | -496 | 7.17 | 11,120 | ||||||||||
Forfeited or expired | -9 | 20.8 | |||||||||||
Outstanding at January 1, 2011 | 3,587 | 16.69 | 5.1 | 22,299 | |||||||||
Exercisable at December 31, 2011 | 2,622 | 14.51 | 3.9 | 20,201 | |||||||||
Outstanding at January 1, 2012 | 3,587 | 16.69 | |||||||||||
Granted | 402 | 19.31 | |||||||||||
Exercised | -274 | 4.81 | 4,249 | ||||||||||
Forfeited or expired | -2 | 20.1 | |||||||||||
Outstanding at December 31, 2012 | 3,713 | 17.85 | 5 | 9,744 | |||||||||
Exercisable at December 31, 2012 | 2,715 | 16.48 | 3.7 | 9,472 | |||||||||
Outstanding at January 1, 2013 | 3,713 | 17.85 | |||||||||||
Granted | 186 | 23.35 | |||||||||||
Exercised | -341 | 7.7 | 5,722 | ||||||||||
Forfeited or expired (1) | -432 | 20.34 | |||||||||||
Outstanding at December 31, 2013 | 3,126 | 18.93 | 4.2 | 17,461 | |||||||||
Exercisable at December 31, 2013 | 2,509 | 18.01 | 3.3 | 16,144 | |||||||||
Schedule of Share Based Compensation by Plan [Table Text Block] | ' | ||||||||||||
The following table summarizes information about stock options outstanding at December 31, 2013: | |||||||||||||
Plan | Range of exercise prices | Number outstanding | Weighted average remaining contractual life (years) | Weighted average exercise price | |||||||||
2001 Plan | $ | 8.14-29.21 | 2,944 | 4 | $ | 18.67 | |||||||
2013 Plan | $ | 23.35 | 182 | 7.4 | $ | 23.35 | |||||||
The following summarizes information about stock options exercisable at December 31, 2013: | |||||||||||||
Plan | Range of exercise prices | Number exercisable | Weighted average remaining contractual life (years) | Weighted average exercise price | |||||||||
2001 Plan | $ | 8.14-29.21 | 2,509 | 3.3 | $ | 18.03 | |||||||
2013 Plan | $ | 23.35 | - | 7.4 | $ | 23.35 | |||||||
Schedule Of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
Restricted Stock Grants | Shares | Weighted Average Grant Date Fair Value | Aggregate Intrinsic Value | ||||||||||
Nonvested at January 1, 2011 | 871 | $ | 18.66 | ||||||||||
Granted | 472 | 25.78 | |||||||||||
Vested | -274 | 20.23 | |||||||||||
Forfeited | -45 | 19.68 | |||||||||||
Nonvested at December 31, 2011 | 1024 | $ | 21.48 | $ | - | ||||||||
Nonvested at January 1, 2012 | 1024 | $ | 21.48 | ||||||||||
Granted | 482 | 18.95 | |||||||||||
Vested | -305 | 21.48 | |||||||||||
Forfeited | -37 | 21.67 | |||||||||||
Nonvested at December 31, 2012 | 1,164 | $ | 20.42 | $ | - | ||||||||
Nonvested at January 1, 2013 | 1,164 | $ | 20.42 | ||||||||||
Granted | 453 | 24.66 | |||||||||||
Vested | -428 | 19.9 | $ | 8,512 | |||||||||
Forfeited | -58 | 21.66 | |||||||||||
Nonvested at December 31, 2013 | 1,131 | $ | 22.35 | $ | 26,656 |
Related_Parties_Tables
Related Parties (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Related Parties [Abstract] | ' | ||||||
Schedule of Sales and Purchases with Related Parties [Table Text Block] | ' | ||||||
Net sales to, and purchases from, LSC were as follows for years ended December 31 | |||||||
2013 | 2012 | 2011 | |||||
Net sales | $770 | $1,054 | $1,980 | ||||
Purchases | $35,329 | $33,928 | $37,879 | ||||
Net sales to, and purchases from, companies owned by Keylink were as follows for years ended December 31 | |||||||
2013 | 2012 | 2011 | |||||
Net sales | $10,559 | $19,336 | $11,965 | ||||
Purchases | $8,030 | $7,826 | $11,168 | ||||
Schedule of Due to/Due from Related Parties [Table Text Block] | ' | ||||||
Accounts receivable from, and accounts payable to, LSC and Keylink were as follows as of December 31 | |||||||
2013 | 2012 | ||||||
Accounts receivable | |||||||
LSC | $ | 140 | $ | 204 | |||
Keylink | 4,927 | 10,457 | |||||
$ | 5,067 | $ | 10,661 | ||||
Accounts payable | |||||||
LSC | $ | 5,670 | $ | 5,308 | |||
Keylink | 6,505 | 5,095 | |||||
$ | 12,175 | $ | 10,403 |
Segment_Information_and_Enterp1
Segment Information and Enterprise-Wide Disclosure (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Geographic Areas, Long-Lived Assets [Abstract] | ' | |||||||||||
Schedule Of Revenues From External Customers And Long Lived Assets By Geographical Areas [Table Text Block] | ' | |||||||||||
2013 | Asia | North America | Europe | Consolidated | ||||||||
Total sales | $ | 750,339 | $ | 143,251 | $ | 165,179 | $ | 1,058,769 | ||||
Inter-company sales | -75,731 | -65,947 | -90,245 | -231,923 | ||||||||
Net sales | $ | 674,608 | $ | 77,304 | $ | 74,934 | $ | 826,846 | ||||
Property, plant and equipment | $ | 268,196 | $ | 30,040 | $ | 23,777 | $ | 322,013 | ||||
Assets | $ | 858,114 | $ | 120,104 | $ | 184,040 | $ | 1,162,258 | ||||
2012 | Asia | North America | Europe | Consolidated | ||||||||
Total sales | $ | 573,085 | $ | 133,973 | $ | 154,955 | $ | 862,013 | ||||
Inter-company sales | -75,230 | -66,626 | -86,351 | -228,207 | ||||||||
Net sales | $ | 497,855 | $ | 67,347 | $ | 68,604 | $ | 633,806 | ||||
Property, plant and equipment | $ | 186,563 | $ | 31,309 | $ | 25,424 | $ | 243,296 | ||||
Assets | $ | 554,603 | $ | 136,261 | $ | 229,199 | $ | 920,063 | ||||
2011 | Asia | North America | Europe | Consolidated | ||||||||
Total sales | $ | 559,109 | $ | 137,789 | $ | 194,455 | $ | 891,353 | ||||
Inter-company sales | -82,958 | -61,907 | -111,237 | -256,102 | ||||||||
Net sales | $ | 476,151 | $ | 75,882 | $ | 83,218 | $ | 635,251 | ||||
Property, plant and equipment | $ | 162,022 | $ | 33,684 | $ | 29,687 | $ | 225,393 | ||||
Assets | $ | 494,375 | $ | 112,863 | $ | 185,826 | $ | 793,064 | ||||
Geographic Areas, Revenues from External Customers [Abstract] | ' | |||||||||||
Schedule of Revenue by Countries [Table Text Block] | ' | |||||||||||
% of Total | ||||||||||||
2013 | Revenue | Revenue | ||||||||||
China | $ | 522,587 | 63% | |||||||||
U.S. | 72,232 | 9% | ||||||||||
Korea | 68,693 | 8% | ||||||||||
Germany | 45,631 | 6% | ||||||||||
Singapore | 43,066 | 5% | ||||||||||
Taiwan | 30,233 | 4% | ||||||||||
All others | 44,404 | 5% | ||||||||||
Total | $ | 826,846 | 100% | |||||||||
% of Total | ||||||||||||
2012 | Revenue | Revenue | ||||||||||
China | $ | 381,307 | 60% | |||||||||
U.S. | 62,862 | 10% | ||||||||||
Korea | 52,670 | 8% | ||||||||||
Germany | 41,037 | 6% | ||||||||||
Singapore | 26,877 | 4% | ||||||||||
Taiwan | 20,973 | 3% | ||||||||||
All others | 48,080 | 9% | ||||||||||
Total | $ | 633,806 | 100% | |||||||||
% of Total | ||||||||||||
2011 | Revenue | Revenue | ||||||||||
China | $ | 359,647 | 57% | |||||||||
U.S. | 71,796 | 11% | ||||||||||
Germany | 48,264 | 8% | ||||||||||
Korea | 39,051 | 6% | ||||||||||
Taiwan | 33,437 | 5% | ||||||||||
Singapore | 24,036 | 4% | ||||||||||
All others | 59,020 | 9% | ||||||||||
Total | $ | 635,251 | 100% |
Commitments_Tables
Commitments (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies [Abstract] | ' | |||
Schedule Of Future Minimum Rental Payments For Operating Leases [Table Text Block] | ' | |||
Future minimum lease payments under non-cancelable operating leases at December 31, 2013 are: | ||||
2014 | $ | 8,247 | ||
2015 | 6,709 | |||
2016 | 5,919 | |||
2017 | 5,482 | |||
2018 and thereafter | 3,132 | |||
$ | 29,489 |
Business_Combination_Tables
Business Combination (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Business Combinations [Abstract] | ' | ||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ||||||
The Company's purchase price for BCD and related costs are estimated as follows: | |||||||
Purchase price (cost of shares) | $ | 154,735 | |||||
Acquisition related costs (included in selling, general and administrative expenses) | 2,075 | ||||||
Total purchase price | $ | 156,810 | |||||
Schedule of Purchase Price Allocation [Table Text Block] | ' | ||||||
The following summarizes the allocation of the purchase price to the fair value of the assets acquired and liabilities assumed at the date of acquisition: | |||||||
1-Mar-13 | |||||||
Acquisition | |||||||
Method | |||||||
Assets acquired: | |||||||
Cash and cash equivalents | $ | 29,819 | |||||
Accounts receivable, net | 20,862 | ||||||
Inventory | 42,909 | ||||||
Prepaid expenses and other current assets | 27,205 | ||||||
Property, plant and equipment, net | 99,390 | ||||||
Deferred tax assets | 1,612 | ||||||
Other long-term assets | 5,497 | ||||||
Other intangible assets | 17,200 | ||||||
Goodwill | 2,518 | ||||||
Total assets acquired | $ | 247,012 | |||||
Liabilities assumed: | |||||||
Lines of credit | $ | 17,336 | |||||
Accounts payable | 34,758 | ||||||
Accrued liabilities and other | 16,703 | ||||||
Deferred tax liability | 5,055 | ||||||
Other liabilities | 18,425 | ||||||
Total liabilities assumed | 92,277 | ||||||
Total net assets acquired, net of cash acquired | $ | 154,735 | |||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||
The following unaudited pro forma consolidated results of operations for the years ended December 31, 2013 and 2012 have been prepared as if the acquisition of BCD had occurred at January 1, 2012, for each year: | |||||||
Twelve Months Ended | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Net revenues | $ | 847,947 | $ | 776,650 | |||
Net income attributable to common stockholders | $ | 25,513 | $ | 19,233 | |||
Earnings per share—Basic | $ | 0.55 | $ | 0.42 | |||
Earnings per share—Diluted | $ | 0.54 | $ | 0.41 |
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | ||||||||||||
Schedule Of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||
Quarter Ended | |||||||||||||
31-Mar | 30-Jun | Sept. 30 | Dec. 31 | ||||||||||
Fiscal 2013 | |||||||||||||
Net sales | $ | 176,964 | $ | 214,379 | $ | 224,510 | $ | 210,993 | |||||
Gross profit | 46,183 | 61,293 | 69,559 | 60,801 | |||||||||
Net income (loss) attributable to common shareholders | -1,926 | 8,635 | 13,619 | 6,204 | |||||||||
Earnings (loss) per share attributable to common shareholders | |||||||||||||
Basic | $ | -0.04 | $ | 0.19 | $ | 0.29 | $ | 0.13 | |||||
Diluted | -0.04 | 0.18 | 0.28 | 0.13 | |||||||||
Quarter Ended | |||||||||||||
31-Mar | 30-Jun | Sept. 30 | Dec. 31 (i) | ||||||||||
Fiscal 2012 | |||||||||||||
Net sales | $ | 144,663 | $ | 159,239 | $ | 166,617 | $ | 163,287 | |||||
Gross profit | 33,706 | 41,028 | 43,605 | 43,247 | |||||||||
Net income attributable to common shareholders | 4,871 | 6,653 | 8,553 | 4,075 | |||||||||
Earnings per share attributable to common shareholders | |||||||||||||
Basic | $ | 0.11 | $ | 0.15 | $ | 0.19 | $ | 0.09 | |||||
Diluted | 0.1 | 0.14 | 0.18 | 0.09 |
Summary_of_Operations_and_Sign3
Summary of Operations and Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Revenue Recognition [Abstract] | ' | ' | ' |
Sales Returns And Allowances Goods | $68,000,000 | $48,000,000 | $41,000,000 |
Allowance For Doubtful Accounts [Abstract] | ' | ' | ' |
Allowance for doubtful accounts | 2,000,000 | 2,000,000 | 2,000,000 |
Goodwill [Abstract] | ' | ' | ' |
Goodwill Impairment Loss | 5,318,000 | 0 | 0 |
Long-Lived Assets [Abstract] | ' | ' | ' |
Weighted average amortization period for amortizable intangible assets | '8 years 0 months 0 days | ' | ' |
Shipping And Handling Costs [Abstract] | ' | ' | ' |
Shipping, Handling and Transportation Costs | 10,000,000 | 6,000,000 | 5,000,000 |
Foreign Currency Translation [Abstract] | ' | ' | ' |
Foreign exchange transaction losses | $1,000,000 | $2,000,000 | $1,000,000 |
Building [Member] | Minimum [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
PropertyPlantAndEquipmentUsefulLife | '20 years 0 months 0 days | ' | ' |
Building [Member] | Maximum [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
PropertyPlantAndEquipmentUsefulLife | '55 years 0 months 0 days | ' | ' |
Machinery and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
PropertyPlantAndEquipmentUsefulLife | '3 years 0 months 0 days | ' | ' |
Machinery and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
PropertyPlantAndEquipmentUsefulLife | '10 years 0 months 0 days | ' | ' |
Leaseholds and Leasehold Improvements [Member] | Minimum [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
PropertyPlantAndEquipmentUsefulLife | '3 years 0 months 0 days | ' | ' |
Leaseholds and Leasehold Improvements [Member] | Maximum [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
PropertyPlantAndEquipmentUsefulLife | '5 years 0 months 0 days | ' | ' |
Summary_of_Operations_and_Sign4
Summary of Operations and Significant Accounting Policies (Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options and share outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | 2 |
Earnings Per Share Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average number of common shares outstanding used in computing basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 46,363,000 | 45,780,000 | 45,202,000 |
Net income attributable to common stockholders | $6,204 | $13,619 | $8,635 | ($1,926) | $4,075 | $8,553 | $6,653 | $4,871 | $26,532 | $24,152 | $50,737 |
Basic earnings per share attributable to common stockholders | $0.13 | $0.29 | $0.19 | ($0.04) | $0.09 | $0.19 | $0.15 | $0.11 | $0.57 | $0.53 | $1.12 |
Summary_of_Operations_and_Sign5
Summary of Operations and Significant Accounting Policies (Earnings Per Share - Diluted) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average number of common shares outstanding used in computing basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 46,363 | 45,780 | 45,202 |
Add: Assumed exercise of stock options and stock awards | ' | ' | ' | ' | ' | ' | ' | ' | 1,295 | 1,119 | 1,511 |
Weighted average number of common shares outstanding used in computing diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 47,658 | 46,899 | 46,713 |
Net income attributable to common stockholders | $6,204 | $13,619 | $8,635 | ($1,926) | $4,075 | $8,553 | $6,653 | $4,871 | $26,532 | $24,152 | $50,737 |
Diluted earnings per share attributable to common stockholders | $0.13 | $0.28 | $0.18 | ($0.04) | $0.09 | $0.18 | $0.14 | $0.10 | $0.56 | $0.51 | $1.09 |
Summary_of_Operations_and_Sign6
Summary of Operations and Significant Accounting Policies (Comprehensive Income) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Comprehensive Income [Abstract] | ' | ' |
Accumulated Comprehensive Income Translation Adjustmentax | ($16,210) | ($22,663) |
Accumulated Comprehensive Income Defined Benefit Plan | -28,164 | -11,193 |
Accumulated other comprehensive loss | ($44,374) | ($33,856) |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
BCD Semiconductor Manufacturing Limited [Member] | BCD Semiconductor Manufacturing Limited [Member] | BCD Semiconductor Manufacturing Limited [Member] | BCD Semiconductor Manufacturing Limited [Member] | Trading Securities [Member] | Trading Securities [Member] | Trading Securities [Member] | Trading Securities [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | Short-term Investments [Member] | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading Securities, Fair Value Disclosure | ' | $7,092 | $7,092 | ' | ' | $5,634 | $5,634 | $0 | $0 | ' | ' | ' | ' |
Changes in Fair Value, Gain (Loss) | ' | 3,679 | ' | ' | ' | 235 | ' | ' | ' | 0 | ' | ' | ' |
Short-Term Investments, Fair Value Disclosure | ' | ' | ' | ' | ' | ' | ' | ' | ' | $22,922 | $0 | $22,922 | $0 |
Securities Borrowed Setoff Rights Description | 'During 2013, the Company entered into a net settlement agreement with China Construction Bank (“CCB”) whereby CCB loaned the Company $20 million and the Company in turn invested the same $20 million with CCB. The principal of the $20 million investment is guaranteed by CCB and is collateral for the $20 million loan. The Company believes that the $20 million investment and loan approximate fair value. The net interest income, which is guaranteed by CCB, realized by the investment was immaterial as of December 31, 2013. The investment and the offsetting loan are non-cancelable, will mature in June 2014 and are shown net of each other on the balance sheet as the Company believes the arrangement qualifies for the offsetting provisions in GAAP. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Finished goods | $67,487 | $59,319 |
Work-in-progress | 43,031 | 30,564 |
Raw materials | 69,878 | 63,410 |
Total | $180,396 | $153,293 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant and Equipment [Abstract] | ' | ' | ' |
Buildings and Improvements, Gross | $107,342 | $53,068 | ' |
Machinery and equipment | 549,971 | 465,106 | ' |
Property, plant and equipment, gross, total | 657,313 | 518,174 | ' |
Less: Accumulated depreciation and amortization | -386,455 | -322,403 | ' |
Net | 270,858 | 195,771 | ' |
Construction in-progress | 34,922 | 31,227 | ' |
Land | 16,233 | 16,298 | ' |
Property, plant and equipment, net, total | 322,013 | 243,296 | 225,393 |
Depreciation | $65,529 | $59,063 | $56,927 |
Intangible_Assets_Details
Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Intangible assets subject to amortization [Line Items] | ' | ' | ' |
Useful life | '8 years 0 months 0 days | ' | ' |
Gross carrying amount | $86,925 | $69,707 | ' |
Accumulated amortization | -32,245 | -24,161 | ' |
Currency exchange | -7,000 | -7,051 | ' |
Net | 47,680 | 38,495 | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 6,403 | 6,403 | ' |
Currency exchange | -512 | -561 | ' |
Net | 5,891 | 5,842 | ' |
Total Intangible Assets - Gross Carrying Amount | 93,328 | 76,110 | ' |
Total Intangible Assets - Accumulated Amortization | -32,245 | -24,161 | ' |
Total Intangible Assets - Currency Exchange and Other | -7,512 | -7,612 | ' |
Total Intangible Assets - Net | 53,571 | 44,337 | ' |
Amortization of Intangible Assets | 8,078 | 5,130 | 4,511 |
Trademarks [Member] | ' | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 6,403 | 6,403 | ' |
Currency exchange | -512 | -561 | ' |
Net | 5,891 | 5,842 | ' |
Patents [Member] | ' | ' | ' |
Intangible assets subject to amortization [Line Items] | ' | ' | ' |
Gross carrying amount | 11,812 | 11,795 | ' |
Accumulated amortization | -6,274 | -5,393 | ' |
Currency exchange | -228 | -273 | ' |
Net | 5,310 | 6,129 | ' |
Software License [Member] | ' | ' | ' |
Intangible assets subject to amortization [Line Items] | ' | ' | ' |
Gross carrying amount | 1,212 | 1,212 | ' |
Accumulated amortization | -1,149 | -1,149 | ' |
Currency exchange | -63 | -63 | ' |
Net | 0 | 0 | ' |
Developed Technology [Member] | ' | ' | ' |
Intangible assets subject to amortization [Line Items] | ' | ' | ' |
Gross carrying amount | 53,508 | 42,408 | ' |
Accumulated amortization | -20,654 | -15,316 | ' |
Currency exchange | -5,516 | -5,481 | ' |
Net | 27,338 | 21,611 | ' |
Customer Relationships [Member] | ' | ' | ' |
Intangible assets subject to amortization [Line Items] | ' | ' | ' |
Gross carrying amount | 20,393 | 14,292 | ' |
Accumulated amortization | -4,168 | -2,303 | ' |
Currency exchange | -1,193 | -1,234 | ' |
Net | $15,032 | $10,755 | ' |
Intangible_Assets_Future_Amort
Intangible Assets (Future Amortization) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | ' |
2014 | $7,973 |
2015 | 7,513 |
2016 | 7,121 |
2017 | 6,466 |
2018 | $5,402 |
Goodwill_Details
Goodwill (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Roll Forward] | ' | ' | ' |
Beginning Balance | $87,359 | $67,818 | ' |
Acquisitions | 2,518 | 16,913 | ' |
Impairment | 5,318 | 0 | 0 |
Currency exchange and other | 155 | 2,628 | ' |
Ending Balance | $84,714 | $87,359 | $67,818 |
Bank_Credit_Agreements_and_Oth
Bank Credit Agreements and Other Short-Term and Long-Term Debt (Lines of credit) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Revolver [Member] | Swing Line Sublimit [Member] | Letter Of Credit Sublimit [Member] | Alternative Currency Sublimit [Member] | Term Loan [Member] | Unsecured [Member] | Unsecured [Member] | Secured [Member] | Secured [Member] | Fifth Amendment [Member] | Sixth Amendment [Member] | |||
Term Loan [Member] | Term Loan [Member] | ||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lines of credit maximum borrowing capacity | $112,023,000 | ' | $300,000,000 | $10,000,000 | $10,000,000 | $20,000,000 | ' | $112,023,000 | ' | $0 | ' | ' | ' |
Debt Instrument, Issuance Date | ' | ' | 8-Jan-13 | ' | ' | ' | 25-Nov-09 | ' | ' | ' | ' | ' | ' |
Credit Facility Amendment Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2012-02-01 | '2012-04-30 |
Line of Credit Facility, Covenant Terms | ' | ' | 'The Credit Agreement contains certain financial and non-financial covenants, including, but not limited to, a maximum Consolidated Leverage Ratio, a minimum Consolidated Fixed Charge Coverage Ratio, and restrictions on liens, indebtedness, investments, fundamental changes, dispositions, and restrictive payments (including dividends). | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lines of credit unused and available | 220,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit Facility Credit Used For Guarantee | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Expiration Date | ' | ' | 8-Jan-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Affiliated Borrower | ' | ' | 'Diodes International B.V. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit facility, Interest Rate Terms | ' | ' | 'Borrowed amounts bear interest at a rate per annum equal to the sum of (a) the highest of (i) the Federal Funds Rate plus ½ of 1.00%, (ii) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (iii) the Eurocurrency Rate plus 1.00%, plus (b) an amount between 0.50% per annum and 1.25% per annum, based upon the Borrowers’ and their subsidiaries’ Consolidated Leverage Ratio. Eurocurrency loans bear interest at LIBOR plus an amount between 1.50% and 2.25% per annum, based upon the Borrowers’ and their subsidiaries’ Consolidated Leverage Ratio. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan, Interest Rate Terms | ' | ' | 'Borrowed amounts bear interest at a rate per annum equal to the sum of (a) the highest of (i) the Federal Funds Rate plus ½ of 1.00%, (ii) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (iii) the Eurocurrency Rate plus 1.00%, plus (b) an amount between 0.50% per annum and 1.25% per annum, based upon the Borrowers’ and their subsidiaries’ Consolidated Leverage Ratio. Eurocurrency loans bear interest at LIBOR plus an amount between 1.50% and 2.25% per annum, based upon the Borrowers’ and their subsidiaries’ Consolidated Leverage Ratio. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lines of credit amount outstanding | $5,814,000 | $7,629,000 | ' | ' | ' | ' | ' | $5,814,000 | $5,629,000 | $0 | $2,000,000 | ' | ' |
Bank_Credit_Agreements_and_Oth1
Bank Credit Agreements and Other Short-Term and Long-Term Debt (Long Term Debt) (Details) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | USD ($) | USD ($) | Notes Payable To Bank 1 [Member] | Notes Payable To Bank 1 [Member] | Notes Payable To Bank 1 [Member] | Notes Payable To Bank 2 [Member] | Notes Payable To Bank 2 [Member] | Revolver [Member] | Revolver [Member] | Term Loan [Member] | Term Loan [Member] |
USD ($) | TWD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||
Long-term debt by current and noncurrent [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | $183,926 | $45,194 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt | -1,127 | -1,063 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LONG-TERM DEBT, net of current portion | 182,799 | 44,131 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate Terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'bore interest at a rate per annum equal to the Eurocurrency Rate (as defined) plus 1.25% per annum | ' |
Long-term Debt, Gross | ' | ' | $2,500 | 158,000 | $2,979 | $2,426 | $2,215 | $179,000 | $0 | $0 | $40,000 |
Long-term variable interest rate | ' | ' | 2.05% | 2.05% | 3.30% | 2.50% | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date, Description | ' | ' | 'TWD 132 million matures on July 6, 2021, and TWD 26 million matured July 6, 2013 | 'TWD 132 million matures on July 6, 2021, and TWD 26 million matured July 6, 2013 | ' | 'Maturity dates range from 2013 to 2023 | ' | ' | ' | ' | ' |
Bank_Credit_Agreements_and_Oth2
Bank Credit Agreements and Other Short-Term and Long-Term Debt (Contractual maturities of long-term debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Maturities of long term debt [Abstract] | ' | ' |
Maturities in next year | $1,127 | ' |
Maturities in year 2 | 1,132 | ' |
Maturities in year 3 | 567 | ' |
Maturities in year 4 | 555 | ' |
Maturities in year 5 | 179,561 | ' |
Maturities in after year 5 | 984 | ' |
Total long-term debt | $183,926 | $45,194 |
Bank_Credit_Agreements_and_Oth3
Bank Credit Agreements and Other Short-Term and Long-Term Debt (Convertible senior notes) (Details) (USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Oct. 31, 2006 |
Convertible Senior Notes [Abstract] | ' |
Debt Instrument Convertible Initial Principal Amount | $230 |
Debt Instrument Covertible, Maturity Date | '2026 |
Bank_Credit_Agreements_and_Oth4
Bank Credit Agreements and Other Short-Term and Long-Term Debt (Interest expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Debt Instruments [Abstract] | ' | ' | ' |
Notes Contractual Interest Expense | ' | ' | $2,267 |
Amortization of discount on convertible senior notes | 0 | 0 | 6,032 |
Amortization Of Debt Issuance Cost | ' | ' | 412 |
Total | ' | ' | $8,711 |
Capital_Lease_Obligations_Deta
Capital Lease Obligations (Details) (USD $) | Dec. 31, 2013 |
Capital Leases, Future Minimum Payments Due [Abstract] | ' |
2014 | $305,000 |
2015 | 195,000 |
2016 | 185,000 |
2017 | 19,000 |
Thereafter | 0 |
Capital Leases, Future Minimum Payment, Total | 704,000 |
Less: Interest | -40,000 |
Present value of minimum lease payments | 664,000 |
Less: Current portion | 280,000 |
Long-term portion | 384,000 |
Capital Leased Assets, Gross | 3,000,000 |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | $2,000,000 |
Accrued_Liabilities_and_Other_
Accrued Liabilities and Other Long Term Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Accrued Liabilities, Current [Abstract] | ' | ' | ' |
Compensation And Payroll Taxes | $22,414 | $12,837 | ' |
Accrued Expense | 23,159 | 12,338 | ' |
Accrued Pricing Adjustments | 2,891 | 1,304 | ' |
Equipment Purchases | 7,395 | 7,081 | ' |
Accrued professional services | 2,215 | 2,512 | ' |
Other | 2,610 | 5,067 | ' |
Accrued Liabilities, Current, Total | 60,684 | 41,139 | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' |
Accrued defined benefit plan | 32,749 | 17,853 | ' |
Unrecognized tax benefits | 20,710 | 14,591 | 10,177 |
Income tax contingencies | 9,829 | 0 | ' |
Deferred compensation | 3,535 | 2,213 | ' |
Other | 12,043 | 7,317 | ' |
Liabilities, Noncurrent, Total | $78,866 | $41,974 | ' |
Stockholders_Equity_Narratives
Stockholders' Equity (Narratives) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Stockholder's Equity Note [Abstract] | ' |
Other Restrrictions on Payment of Deividends | 'The Company’s credit agreement, dated January 8, 2013, with Bank of America N.A. and other lenders parties permits the Company to pay dividends up to $1.5 million per fiscal year to its stockholders so long as it has not defaulted and is in continuing operation at the time of such dividend. |
Income_Taxes_Narratives_Detail
Income Taxes (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tax Credit Carryforward [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Valuation Allowance | $1 | $4 | $1 |
Income Taxes Supplemental Information [Abstract] | ' | ' | ' |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 430 | ' | ' |
Statutory Accounting Practices, Retained Earnings Not Available for Dividends | 45 | ' | ' |
Additional Tax On Undistributed Foreign Earnings | 101 | ' | ' |
Income Tax Holiday, Aggregate Dollar Amount | 2 | 6 | 7 |
Income Tax Holiday Income Tax Benefits Per Share Basic | $0.05 | $0.14 | $0.15 |
Income Tax Holiday Income Tax Benefits Per Share Diluted | $0.05 | $0.13 | $0.15 |
Significant Change in Unrecognized Tax Benefits, Nature of Uncertainty | '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 | 'These changes may be the result of settlements of ongoing audits or competent authority proceedings. At this time, an estimate of the range of the reasonably possible outcomes cannot be made. | ' | ' |
Income Tax Examination, Description | 'The Company files income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2007. During the second quarter of 2013, the Internal Revenue Service (“IRS”) commenced an examination of the Company’s U.S. federal income tax return for the 2010 tax year. The examination is ongoing, and the IRS has not proposed adjustments to any tax positions at this time. With respect to state and local jurisdictions and countries outside of the U.S., with limited exceptions, the Company is no longer subject to income tax audits for years before 2006. 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 future tax audits. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in interest expense. The Company had an insignificant amount of accrued interest and penalties at December 31, 2013, 2012 and 2011. During 2012, the China government began an audit of the Company’s High and New Technology Enterprise status for its largest Chinese subsidiary for 2009-2011 as part of an overall evaluation of the reduced tax rates provided to many high tech companies. This subsidiary has a reduced tax rate of 15%. In April 2013, the Company was notified by the China government that they had completed their tax audit and had concluded that the Company owed additional tax related to tax year 2011 in the amount of $5 million, which was paid during 2013. This subsidiary has been approved for its HNTE status for the tax years 2012-2014. The Company’s other China manufacturing facility has been approved for its HNTE status for the tax years 2011-2013. For 2014 and future years, this facility no longer qualifies for the HNTE status and therefore all of its future and deferred income will be taxed at the statutory tax rate of 25%. | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Tax Credit Carryforward [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Amount | 1 | ' | ' |
Tax Credit Carryforward, Expiration Dates | 1-Jan-20 | ' | ' |
Operating Loss Carryforward [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | 17 | ' | ' |
Operating Loss Carryforwards, Expiration Dates | '2014-01-01 | ' | ' |
Federal [Member] | ' | ' | ' |
Tax Credit Carryforward [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Amount | 27 | ' | ' |
Tax Credit Carryforward, Expiration Dates | 1-Jan-14 | ' | ' |
Operating Loss Carryforward [Abstract] | ' | ' | ' |
Operating Loss Carryforwards | $33 | ' | ' |
Operating Loss Carryforwards, Expiration Dates | '2018-01-01 | ' | ' |
Income_Taxes_Income_income_tax
Income Taxes (Income, income tax provision) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Provision [Abstract] | ' | ' | ' |
U.S. | ($12,936) | ($24,411) | ($28,238) |
Foreign | 51,521 | 55,218 | 91,902 |
Income before income taxes and noncontrolling interest | 38,585 | 30,807 | 63,664 |
Current tax provision (benefit) | ' | ' | ' |
Federal | 1,315 | 1,424 | 14,049 |
Foreign | 9,270 | 10,756 | 18,324 |
State | -187 | 142 | 214 |
Current tax provision (benefit), Total | 10,398 | 12,322 | 32,587 |
Deferred tax provision (benefit) | ' | ' | ' |
Federal | -1,531 | -8,784 | -20,906 |
Foreign | -2,197 | -3,247 | -1,165 |
State | 9 | 317 | -466 |
Deferred Income Tax Expense (Benefit), Total | -3,719 | -11,714 | -22,537 |
Liability for unrecognized tax benefits | 7,802 | 4,217 | 107 |
Income tax provision (benefit), Total | $14,481 | $4,825 | $10,157 |
Income_Taxes_Effective_tax_rat
Income Taxes (Effective tax rate reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' |
Federal tax | $13,505 | $10,783 | $22,282 |
State income taxes, net of federal tax provision (benefit) | 29 | 213 | -366 |
Foreign income taxed at lower tax rates | -8,363 | -15,515 | -6,356 |
U.S. tax impact of foreign operations | 911 | 496 | 1,115 |
Foreign tax credits, net of valuation allowance | 0 | 3,135 | -5,843 |
Goodwill impairment | 904 | 0 | 0 |
Research and development | -2,294 | 0 | 0 |
Liability for unrecognized tax benefits | 7,802 | 4,217 | 107 |
U.S. provision-to-return adjustments | 554 | -102 | -167 |
Valuation allowance - net operating loss carryforwards | 0 | 0 | 0 |
Other | 1,433 | 1,598 | -615 |
Income tax provision (benefit), Total | $14,481 | $4,825 | $10,157 |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Income tax rate, Federal tax | 35.00% | 35.00% | 35.00% |
Income tax rate, State income taxes | 0.10% | 0.70% | -0.60% |
Income tax rate, Foreign income taxed at lower tax rates | -21.70% | -50.40% | -10.00% |
Income tax rate, U.S. tax impact of foreign operations | 2.40% | 1.60% | 1.80% |
Income tax rate, Valuation allowance - foreign tax credit carryforwards | 0.00% | 10.20% | -9.20% |
Income tax rate, Goodwill impairment | 2.30% | 0.00% | 0.00% |
Income tax rate, Research and development | -5.90% | 0.00% | 0.00% |
Income tax rate, Liability for unrecognized tax benefits | 20.20% | 13.70% | 0.20% |
Income tax rate, U.S. provision-to-return adjustment | 1.40% | -0.30% | -0.30% |
Income tax rate, Valuation allowance - net operating loss carryforwards | 0.00% | 0.00% | 0.00% |
Income tax rate, Other | 3.70% | 5.20% | -1.00% |
Income tax rate, Total | 37.50% | 15.70% | 15.90% |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of unrecognized tax benefits) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' |
Beginning Balance | $14,591 | $10,177 |
Additions based on tax positions related to the current year | 3,659 | 1,593 |
Additions for prior years tax positions | 10,206 | 3,945 |
Reductions for prior years tax positions | -7,746 | -1,124 |
Ending Balance | $20,710 | $14,591 |
Income_Taxes_Deferred_tax_asse
Income Taxes (Deferred tax assets and liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets, Net, Current Classification [Abstract] | ' | ' |
Inventory cost | $6,113 | $6,158 |
Accrued expenses and accounts receivable | 2,422 | 2,047 |
Share based compensation and others | 1,978 | 1,790 |
Total deferred tax assets, current | 10,513 | 9,995 |
Deferred Tax Assets, Net, Noncurrent Classification [Abstract] | ' | ' |
Foreign tax credits | 20,911 | 20,537 |
Research and development tax credits | 5,460 | 4,331 |
Net operating loss carryforwards | 13,130 | 13,977 |
Accrued pension | 17,110 | 10,089 |
Share based compensation and others | 18,371 | 21,811 |
Total deferred tax assets, include valuation allowance | 74,982 | 70,745 |
valuation allowances | -35,908 | -27,022 |
Total deferred tax assets, non-current | 39,074 | 43,723 |
Deferred tax liabilities, non-current | ' | ' |
Plant, equipment and intangible assets | -10,837 | -6,904 |
Total deferred tax liabilities, non-current | -10,837 | -6,904 |
Total deferred tax assets, non-current | $28,237 | $36,819 |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narratives) (Details) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |||
USD ($) | USD ($) | USD ($) | US [Member] | CN [Member] | TW [Member] | Equity Securities [Member] | CorporateDebtSecuritiesMember | EquityFundsMember | Years 2012 To 2019 [Member] | |||
GBP (£) | ||||||||||||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Accumulated Comprehensive Income Defined Benefit Plan | ($28,164,000) | ($11,193,000) | ' | ' | ' | ' | ' | ' | ' | ' | ||
Defined Benefit Plan Recognized Gain Loss Increase Decrease | -15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Defined Benefit Plan Amortization Of Net Gains Losses Average Term | '14 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated Future Pension Benefit Payments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Defined Benefit Plan, Expected Future Benefit Payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ||
Foreign Currency Exchange Rate, Translation | 0.625 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Schedule Of Expected Benefit Payments [Table Text Block] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Year | ||||||||||||
2014 | $3,975 | |||||||||||
2015 | 3,975 | |||||||||||
2016 | 4,571 | |||||||||||
2017 | 4,621 | |||||||||||
2018 | 4,803 | |||||||||||
2019-2023 | 30,921 | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities | ' | ' | ' | ' | ' | ' | 48.00% | 40.00% | 12.00% | ' | ||
401 (k) Retirement Plan [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Description of Defined Contribution Pension and Other Postretirement Plans | ' | ' | ' | 'The Company maintains a 401(k) retirement plan (“the Plan”) for the benefit of qualified employees at its U.S. locations. Employees who participate may elect to make salary deferral contributions to the Plan up to 100% of the employees’ eligible payroll subject to annual Internal Revenue Code maximum limitations. The Company currently makes a matching contribution of $1 for every $2 contributed by the participant up to 6% (3% maximum matching) of the participant’s eligible payroll, which vests over four years. In addition, the Company may make a discretionary contribution to the entire qualified employee pool, in accordance with the Plan. | 'As stipulated by the regulations of China, the Company maintains a retirement plan pursuant to the local municipal government for the employees in China. The Company is required to make contributions to the retirement plan at a rate between 10% and 22% of the employee’s eligible payroll. | 'Pursuant to the Taiwan Labor Standard Law and Factory Law, the Company maintains a retirement plan for the employees in Taiwan, whereby the Company makes contributions at a rate of 6% of the employee’s eligible payroll | ' | ' | ' | ' | ||
Defined Contribution Plan, Cost Recognized | 6,000,000 | 5,000,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ||
Deferred Compensation Plan [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Deferred Compensation Arrangements, Overall, Description | 'The Company maintains a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors (the “Board”). The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. The Company offsets its obligations under the Deferred Compensation Plan by investing in the actual underlying investments. These investments are classified as trading securities and are carried at fair value. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Deferred Compensation Plan Assets | $3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award, Description | 'The Company maintains share-based compensation plans for its Board, officers and key employees, which provide for stock options and stock awards under its 2013 Equity Incentive Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Net_per
Employee Benefit Plans (Net periodic benefit costs) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' |
Service cost | $313 | $317 |
Interest cost | 5,384 | 5,638 |
Recognized actuarial loss | 239 | -70 |
Expected return on plan assets | -5,556 | -5,446 |
Net periodic benefit cost | $380 | $439 |
Employee_Benefit_Plans_Change_
Employee Benefit Plans (Change in Defined Benefit Plan) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Change in benefit obligation | ' | ' |
Beginning balance | $124,751 | $109,877 |
Service cost | 313 | 317 |
Interest cost | 5,384 | 5,638 |
Actuarial gain (loss) | 21,765 | 7,134 |
Benefits paid | -6,719 | -3,506 |
Settlements | 240 | 0 |
Currency changes - benefit obligation | 3,582 | 5,291 |
Benefit obligation at December 31 | 149,316 | 124,751 |
Change in plan assets | ' | ' |
Beginning balance - fair value | 106,898 | 96,384 |
Employer contribution | 2,960 | 1,904 |
Actual return on plan assets | 10,987 | 7,536 |
Benefits paid | -6,719 | -3,506 |
Currency changes - plan assets | 2,441 | 4,580 |
Fair value of plan assets at December 31 | 116,567 | 106,898 |
Underfunded status at December 31 | ($32,749) | ($17,853) |
Employee_Benefit_Plans_Weighte
Employee Benefit Plans (Weighted Average Assumptions for net periodic benefit costs) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' |
Discount rate | 4.60% | 5.10% |
Expected long-term return | 5.90% | 5.60% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.60% | 5.10% |
Employee_Benefit_Plans_Expecte
Employee Benefit Plans (Expected long-term return by asset category) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Expected Long Term Return [Abstract] | ' | ' |
Expected long-term return | 5.90% | 5.60% |
Assets allocation [Abstract] | ' | ' |
Assets allocation | 100.00% | ' |
Cash and Cash Equivalents [Member] | ' | ' |
Expected Long Term Return [Abstract] | ' | ' |
Expected long-term return | 0.50% | ' |
Assets allocation [Abstract] | ' | ' |
Assets allocation | 2.00% | ' |
Equity Securities [Member] | ' | ' |
Expected Long Term Return [Abstract] | ' | ' |
Expected long-term return | 7.30% | ' |
Assets allocation [Abstract] | ' | ' |
Assets allocation | 47.00% | ' |
Debt Securities [Member] | ' | ' |
Expected Long Term Return [Abstract] | ' | ' |
Expected long-term return | 4.10% | ' |
Assets allocation [Abstract] | ' | ' |
Assets allocation | 39.00% | ' |
Target Return Funds [Member] | ' | ' |
Expected Long Term Return [Abstract] | ' | ' |
Expected long-term return | 7.30% | ' |
Assets allocation [Abstract] | ' | ' |
Assets allocation | 12.00% | ' |
Employee_Benefit_Plans_Expecte1
Employee Benefit Plans (Expected future benefit payments) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' |
Defined Benefit Plan, Expected Future Benefit Payments in Year One | $3,975 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Two | 3,975 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Three | 4,571 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Four | 4,621 |
Defined Benefit Plan, Expected Future Benefit Payments in Year Five | 4,803 |
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | $30,921 |
Employee_Benefit_Plans_Plan_As
Employee Benefit Plans (Plan Assets by major categories) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $116,567 | $106,898 | $96,384 |
Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 25,808 | ' | ' |
UK Treasury Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 20,094 | ' | ' |
Absolute Return Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14,247 | ' | ' |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 2,173 | ' | ' |
Equity Securities [Member] | UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 27,370 | ' | ' |
Equity Securities [Member] | North America [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9,480 | ' | ' |
Equity Securities [Member] | Europe Excluding UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9,160 | ' | ' |
Equity Securities [Member] | JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 4,003 | ' | ' |
Equity Securities [Member] | Pacific Basin Excluding JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 3,296 | ' | ' |
Equity Securities [Member] | Emerging Markets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 936 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 90,759 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | UK Treasury Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 20,094 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Absolute Return Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14,247 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 2,173 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 27,370 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | North America [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9,480 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Europe Excluding UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 9,160 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 4,003 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Pacific Basin Excluding JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 3,296 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Emerging Markets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 936 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 25,808 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 25,808 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | UK Treasury Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Absolute Return Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | North America [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Europe Excluding UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Pacific Basin Excluding JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Emerging Markets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | UK Treasury Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Absolute Return Funds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | North America [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Europe Excluding UK [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Pacific Basin Excluding JP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Emerging Markets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $0 | ' | ' |
Share_Based_Compensation_Narra
Share Based Compensation (Narratives) (Details) (Chief Executive Officer [Member], Employee Stock Option [Member], USD $) | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 |
Chief Executive Officer [Member] | Employee Stock Option [Member] | ' |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ' |
Deferred Compensation Arrangement with Individual, Description | 'On September 22, 2009, the Company entered into an employment agreement (the “Agreement”) with Dr. Keh-Shew Lu, President and Chief Executive Officer of the Company (the “Employee”), pursuant to which he will continue to be employed by the Company in such positions for an additional six-year term. As part of the Agreement, the Company and the Employee entered into a Stock Award Agreement that provides that: (i) the Company shall grant to the Employee 100,000 shares of Common Stock in the form of restricted stock awards on each of April 14, 2010, 2011, 2012, 2013, 2014 and 2015; (ii) each such installment would vest only if the Company achieved $1 billion net sales; (iii) upon the termination of the Employee’s employment, the Company’s obligation to grant any subsequent installment would terminate; and (iv) any granted shares would be automatically forfeited and returned to the Company if the Employee’s employment with the Company is terminated before the Company achieves the specified target amount of net sales, except in the case of death or disability (as defined) in which case the granted shares would become fully vested on the date of death or disability. The estimated fair value of this grant is approximately $12 million and is being expensed on a straight line basis through April 14, 2015. As of December 31, 2013, four annual installments have been granted and are included in the above table as granted but not vested. As of December 31, 2013, no installments have vested. |
Deferred Compensation Arrangement with Individual, Requisite Service Period | 'six-year term |
Deferred Compensation Arrangement With Individual Shares Granted Year One | 100,000 |
Deferred Compensation Arrangement With Individual Shares Granted Year Two | 100,000 |
Deferred Compensation Arrangement With Individual Shares Granted Year Three | 100,000 |
Deferred Compensation Arrangement With Individual Shares Granted Year Four | 100,000 |
Deferred Compensation Arrangement With Individual Shares Granted Year Five | 100,000 |
Deferred Compensation Arrangement With Individual Shares Granted Year Six | 100,000 |
Deferred Compensation Arrangement With Individual Shares Granted Estimated Fair Value | $12 |
Share_Based_Compensation_Total
Share Based Compensation (Total compensation cost charged, weighted average assumptions) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Dividend yield | ' | ' | ' |
Officer and Board [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Expected volatility | 53.36% | ' | ' |
All Other Employee [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Expected volatility | 56.91% | ' | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Expected volatility | 53.36% | 53.86% | 52.53% |
Expected term (years) | '7 years 1 month 0 days | '7 years 6 months 0 days | '7 years 4 months 0 days |
Risk free interest rate | 1.49% | 1.16% | 2.37% |
Forfeiture rate | 0.78% | 0.76% | 0.47% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used | 'Share-based compensation expense for stock options granted during 2013, 2012 and 2011 was calculated on the date of grant using the Black-Scholes-Merton option-pricing model | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 12.88 | 10.6 | 16.55 |
Proceeds from Stock Options Exercised | 3,000,000 | 1,000,000 | 4,000,000 |
Stock or Unit Option Plan Expense | 4,000,000 | 5,000,000 | 5,000,000 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 6,000,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '2 years 0 months 0 days | ' | ' |
Stock Options [Member] | Plan 2013 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '4 years 0 months 0 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 'Stock options under the 2013 Plan generally vest in equal annual installments over a four-year period and expire eight years after the grant date. | ' | ' |
Stock Options [Member] | Plan 2001 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '4 years 0 months 0 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 'Stock options under the Company’s 2001 Omnibus Equity Incentive Plan (“2001 Plan”) generally vest in equal annual installments over a four-year period and expire ten years after the grant date. | ' | ' |
Stock Options [Member] | Officer and Board [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Expected term (years) | '7 years 0 months 0 days | ' | ' |
Stock Options [Member] | All Other Employee [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Expected term (years) | '5 years 0 months 0 days | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 20,000,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '2 years 0 months 0 days | ' | ' |
Restricted Stock or Unit Expense | 9,000,000 | 9,000,000 | 9,000,000 |
Cost of Sales [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated Share-based Compensation Expense, Total | 522,000 | 458,000 | 394,000 |
Selling And Adminstrative Expense [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated Share-based Compensation Expense, Total | 11,645,000 | 12,715,000 | 12,266,000 |
Other Research and Development Expense [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Allocated Share-based Compensation Expense, Total | 1,384,000 | 1,225,000 | 1,043,000 |
Share_Based_Compensation_Stock
Share Based Compensation (Stock option plans) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Stock Options - Shares [Abstract] | ' | ' | ' | ' |
Shares - Outstanding | 3,713 | 3,587 | 3,707 | ' |
Shares - Granted | 186 | 402 | 385 | ' |
Shares - Exercised | -341 | -274 | -496 | ' |
Shares - Forfeited or expired | -432 | -2 | -9 | ' |
Shares - Outstanding | 3,126 | 3,713 | 3,587 | 3,707 |
Shares - Exercisable | 2,509 | 2,715 | 2,622 | ' |
Stock Options - Weighted Average Exercise Price [Abstract] | ' | ' | ' | ' |
Weighted Average Exercise Price - Outstanding | $17.85 | $16.69 | $14.14 | ' |
Weighted Average Exercise Price - Granted | $23.35 | $19.31 | $29.07 | ' |
Weighted Average Exercise Price - Exercised | $7.70 | $4.81 | $7.17 | ' |
Weighted Average Exercise Price - Forfeited or expired | $20.34 | $20.10 | $20.80 | ' |
Weighted Average Exercise Price - Outstanding | $18.93 | $17.85 | $16.69 | $14.14 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $18.01 | $16.48 | $14.51 | ' |
Stock Options - Contractual Term [Abstract] | ' | ' | ' | ' |
Weighted Average Remaining Contractual Term (years) | '4 years 2 months 0 days | '5 years 0 months 0 days | '5 years 1 month 0 days | '5 years 2 months 0 days |
Weighted Average Remaining Contractual Term - Exercisable | '3 years 3 months 0 days | '3 years 8 months 0 days | '3 years 11 months 0 days | ' |
Stock Options - Aggregate Intrinsic Value [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $17,461 | $9,744 | $22,299 | $47,891 |
Intrinsic Value - Exercised | 5,722 | 4,249 | 11,120 | ' |
Intrinsic Value - Exercisable | $16,144 | $9,472 | $20,201 | ' |
Share_Based_Compensation_Stock1
Share Based Compensation (Stock Options outstanding and exercisable) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Stock Options Outstanding [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,126 | 3,713 | 3,587 | 3,707 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '4 years 2 months 0 days | '5 years 0 months 0 days | '5 years 1 month 0 days | '5 years 2 months 0 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $18.93 | $17.85 | $16.69 | $14.14 |
Stock Options Exercisable [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,509 | 2,715 | 2,622 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '3 years 3 months 0 days | '3 years 8 months 0 days | '3 years 11 months 0 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $18.01 | $16.48 | $14.51 | ' |
Plan 2013 [Member] | ' | ' | ' | ' |
Stock Options Outstanding [Abstract] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $23.30 | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $23.30 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 182 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '7 years 5 months 0 days | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $23.35 | ' | ' | ' |
Stock Options Exercisable [Abstract] | ' | ' | ' | ' |
Share Based Compensation Shares Exercisable Under Stock Option Plans Exercise Price Range Lower Range Limit | $23.30 | ' | ' | ' |
Share Based Compensation Shares Exercisable Under Stock Option Plans Exercise Price Range Upper Range Limit | $23.30 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 0 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '7 years 5 months 0 days | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $23.35 | ' | ' | ' |
Plan 2001 [Member] | ' | ' | ' | ' |
Stock Options Outstanding [Abstract] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $8.14 | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $29.21 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,944 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '4 years 0 months 0 days | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $18.67 | ' | ' | ' |
Stock Options Exercisable [Abstract] | ' | ' | ' | ' |
Share Based Compensation Shares Exercisable Under Stock Option Plans Exercise Price Range Lower Range Limit | $8.14 | ' | ' | ' |
Share Based Compensation Shares Exercisable Under Stock Option Plans Exercise Price Range Upper Range Limit | $29.21 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,509 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '3 years 2 months 0 days | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $18.03 | ' | ' | ' |
Share_Based_Compensation_Nonve
Share Based Compensation (Non-vested share grants) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Shares - Nonvested - Beginning | 1,164 | 1,024 | 871 |
Shares - Granted | 453 | 482 | 472 |
Shares - Vested | -428 | -305 | -274 |
Shares - Forfeited | -58 | -37 | -45 |
Shares - Nonvested - Ending | 1,131 | 1,164 | 1,024 |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value Roll Forward [Abstract] | ' | ' | ' |
Nonvested - Beginning | $20.42 | $21.48 | $18.66 |
Granted | $24.66 | $18.95 | $25.78 |
Vested | $19.90 | $21.48 | $20.23 |
Nonvested - Ending | $22.35 | $20.42 | $21.48 |
Aggregate Intrinsic Value | $26,656 | $0 | $0 |
Aggregated Intrinsic Value - Vested | $8,512 | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Related Party Transaction [Line Items] | ' | ' | ' |
Lease Expiration Date | 31-Dec-20 | ' | ' |
Related Party Transaction, Due from (to) Related Party, Current [Abstract] | ' | ' | ' |
Due from Related Parties, Current | $5,067,000 | $10,661,000 | ' |
Due to Related Parties, Current | 12,175,000 | 10,403,000 | ' |
Lite On Semiconductor [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Related Party Percentage Ownership Of Common Stock | 18.00% | ' | ' |
Related Party Transaction Revenues Percentage From Transactions With Related Party | 1.00% | 1.00% | 1.00% |
Related Party Transaction Percentage Of Subsequent Sales From Purchases From Related Party | 2.00% | 3.00% | 5.00% |
Lease Expiration Date | 31-Mar-11 | ' | ' |
Related Party Transaction, Revenues from Transactions with Related Party | 770,000 | 1,054,000 | 1,980,000 |
Related Party Transaction, Expenses from Transactions with Related Party | 35,329,000 | 33,928,000 | 37,879,000 |
Related Party Transaction, Due from (to) Related Party, Current [Abstract] | ' | ' | ' |
Due from Related Parties, Current | 140,000 | 204,000 | ' |
Due to Related Parties, Current | 5,670,000 | 5,308,000 | ' |
Nature of relationship | 'LSC is the Company’s largest stockholder, owning 18% of the Company’s outstanding Common Stock as of December 31, 2013, and is a member of the Lite-On Group of companies. | ' | ' |
Keylink [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Related Party Transaction Revenues Percentage From Transactions With Related Party | 1.00% | 3.00% | 2.00% |
Related Party Transaction Percentage Of Subsequent Sales From Purchases From Related Party | 1.00% | 1.00% | 1.00% |
Related Party Transaction, Revenues from Transactions with Related Party | 10,559,000 | 19,336,000 | 11,965,000 |
Related Party Transaction, Expenses from Transactions with Related Party | 8,030,000 | 7,826,000 | 11,168,000 |
Related Party Transaction Consulting Fees From Transactions With Related Party | 17,000,000 | 16,000,000 | 17,000,000 |
Related Party Transaction, Due from (to) Related Party, Current [Abstract] | ' | ' | ' |
Due from Related Parties, Current | 4,927,000 | 10,457,000 | ' |
Due to Related Parties, Current | 6,505,000 | 5,095,000 | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 5.00% | ' | ' |
Nature of relationship | 'Keylink is the Company’s 5% joint venture partner in the Company’s Shanghai manufacturing facilities. | ' | ' |
Eris [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Related Party Transaction, Expenses from Transactions with Related Party | ' | $10,000,000 | $16,000,000 |
Related Party Transaction, Due from (to) Related Party, Current [Abstract] | ' | ' | ' |
Nature of relationship | 'Prior to the Company obtaining a controlling financial interest in Eris on August 31, 2012, Eris was a related party due to significant, but noncontrolling, equity investment. The Company subcontracted to Eris some of its wafers for assembly and test and also purchased finished goods not sourced from the Company's wafers. | ' | ' |
Segment_Information_and_Enterp2
Segment Information and Enterprise-wide Disclosures (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Revenue for Reportable Segment | ' | ' | ' | ' | ' | ' | ' | ' | $1,058,769 | $862,013 | $891,353 |
Revenues From Transactions Within Same Entity | ' | ' | ' | ' | ' | ' | ' | ' | -231,923 | -228,207 | -256,102 |
Net sales | 210,993 | 224,510 | 214,379 | 176,964 | 163,287 | 166,617 | 159,239 | 144,663 | 826,846 | 633,806 | 635,251 |
Property, plant and equipment | 322,013 | ' | ' | ' | 243,296 | ' | ' | ' | 322,013 | 243,296 | 225,393 |
Total assets | 1,162,258 | ' | ' | ' | 920,063 | ' | ' | ' | 1,162,258 | 920,063 | 793,064 |
Segment Reporting, Disclosure of Major Customers | ' | ' | ' | ' | ' | ' | ' | ' | 'Major customers – No customer accounted for 10% or greater of the Company’s total net sales in 2013, 2012 and 2011. | ' | ' |
Asia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Revenue for Reportable Segment | ' | ' | ' | ' | ' | ' | ' | ' | 750,339 | 573,085 | 559,109 |
Revenues From Transactions Within Same Entity | ' | ' | ' | ' | ' | ' | ' | ' | -75,731 | -75,230 | -82,958 |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 674,608 | 497,855 | 476,151 |
Property, plant and equipment | 268,196 | ' | ' | ' | 186,563 | ' | ' | ' | 268,196 | 186,563 | 162,022 |
Total assets | 858,114 | ' | ' | ' | 554,603 | ' | ' | ' | 858,114 | 554,603 | 494,375 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Revenue for Reportable Segment | ' | ' | ' | ' | ' | ' | ' | ' | 143,251 | 133,973 | 137,789 |
Revenues From Transactions Within Same Entity | ' | ' | ' | ' | ' | ' | ' | ' | -65,947 | -66,626 | -61,907 |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 77,304 | 67,347 | 75,882 |
Property, plant and equipment | 30,040 | ' | ' | ' | 31,309 | ' | ' | ' | 30,040 | 31,309 | 33,684 |
Total assets | 120,104 | ' | ' | ' | 136,261 | ' | ' | ' | 120,104 | 136,261 | 112,863 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Revenue for Reportable Segment | ' | ' | ' | ' | ' | ' | ' | ' | 165,179 | 154,955 | 194,455 |
Revenues From Transactions Within Same Entity | ' | ' | ' | ' | ' | ' | ' | ' | -90,245 | -86,351 | -111,237 |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 74,934 | 68,604 | 83,218 |
Property, plant and equipment | 23,777 | ' | ' | ' | 25,424 | ' | ' | ' | 23,777 | 25,424 | 29,687 |
Total assets | $184,040 | ' | ' | ' | $229,199 | ' | ' | ' | $184,040 | $229,199 | $185,826 |
Segment_Information_and_Enterp3
Segment Information and Enterprise-wide Disclosures (Revenue by Customer locations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | $210,993 | $224,510 | $214,379 | $176,964 | $163,287 | $166,617 | $159,239 | $144,663 | $826,846 | $633,806 | $635,251 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% |
China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 522,587 | 381,307 | 359,647 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 63.00% | 60.00% | 57.00% |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 72,232 | 62,862 | 71,796 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | 10.00% | 11.00% |
Korea [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 68,693 | 52,670 | 39,051 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 8.00% | 6.00% |
Germany [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 45,631 | 41,037 | 48,264 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 6.00% | 8.00% |
Singapore [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 43,066 | 26,877 | 24,036 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 4.00% | 4.00% |
Taiwan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 30,233 | 20,973 | 33,437 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | 3.00% | 5.00% |
All Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | $44,404 | $48,080 | $59,020 |
Sales Revenue Net Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 9.00% | 9.00% |
Commitments_Narratives_Details
Commitments (Narratives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments and Contingencies [Abstract] | ' | ' | ' |
Lease Expiration Date | 31-Dec-20 | ' | ' |
Operating Leases, Rent Expense, Net | $9 | $7 | $7 |
Purchase Commitment, Remaining Minimum Amount Committed | $9 | ' | ' |
Stockholder Derivative Action [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Loss Contingency, Lawsuit Filing Date | 'Mar. 5, 2013 | ' | ' |
Loss Contingency, Name of Defendant | 'Keh-Shew Lu | ' | ' |
Loss Contingency, Name of Plaintiff | 'Scherer | ' | ' |
Loss Contingency, Allegations | 'plaintiff alleges that (a) the Board approved awards of stock options to Dr. Keh-Shew Lu, our President and Chief Executive Officer, in 2009, 2010, 2011 and 2012 that exceeded the limitation on the number of shares of the Company’s Common Stock that may be purchased upon the exercise of options granted to any person in any given year under the Company’s 2001 Omnibus Equity Incentive Plan as amended by the stockholders on May 28, 2009; (b) the Company’s disclosures in its 2010, 2011 and 2012 proxy statements regarding the limitation on the number of shares of the Company’s Common Stock that may be purchased upon the exercise of options granted to any person in any given year under the Company’s 2001 Omnibus Equity Incentive Plan as amended by the stockholders on May 28, 2009 were inaccurate; and (c) the Company’s disclosures in its 2010, 2011 and 2012 proxy statements that the grants of stock options to Dr. Lu in 2009, 2010, 2011 and 2012 complied with the terms of the Company’s 2001 Omnibus Equity Incentive Plan as amended by the stockholders on May 28, 2009 were incorrect. | ' | ' |
Putative Securities Class Action [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Loss Contingency, Lawsuit Filing Date | 'Mar. 15, 2013 | ' | ' |
Loss Contingency, Name of Defendant | 'Diodes, Inc. | ' | ' |
Loss Contingency, Name of Plaintiff | 'Local 731 I.B. of T. Excavators and Pavers Pension Trust Fund | ' | ' |
Loss Contingency, Allegations | 'alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5 promulgated thereunder by making allegedly misleading public statements during the class period regarding the labor market in China and its impact on the Company’s business and prospects. | ' | ' |
Tag Along Stockholder Derivative Action [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Loss Contingency, Lawsuit Filing Date | 'February 20, 2014 | ' | ' |
Loss Contingency, Name of Defendant | 'Keh-Shew Lu | ' | ' |
Loss Contingency, Name of Plaintiff | 'Persson | ' | ' |
Loss Contingency, Allegations | 'plaintiff alleges that the Board breached their fiduciary duties by allowing the Company to make allegedly misleading public statements in 2011 regarding the labor market in China and its impact on the Company’s business and prospects, by failing to maintain internal controls and by selling shares of Diodes stock while allegedly in possession of material nonpublic information regarding the labor market in China and its impact on the Company’s business and prospects. | ' | ' |
Commitments_Future_Minimum_Pay
Commitments (Future Minimum Payment) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due [Abstract] | ' |
Operating Leases, Future Minimum Payments Due, Current | $8,247 |
Operating Leases, Future Minimum Payments, Due in Two Years | 6,709 |
Operating Leases, Future Minimum Payments, Due in Three Years | 5,919 |
Operating Leases, Future Minimum Payments, Due in Four Years | 5,482 |
Operating Leases, Future Minimum Payments, Due Thereafter | 3,132 |
Operating Leases, Future Minimum Payment, Total | $29,489 |
Business_Combinations_Details
Business Combinations (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Goodwill, Acquired During Period | $2,518,000 | $16,913,000 | ' | ' |
Acquisition of noncontrolling interest | 108,000 | 26,470,000 | ' | ' |
Eris Technology Corporation [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Description | ' | 'Prior to August 31, 2012, the Company owned less than 50% of the outstanding common stock of Eris, a publicly traded company listed on Taiwan’s GreTai Securities Market that provides design, manufacturing and after-market services for diode products. The Company elected the fair value option to account for its less than 50% ownership that otherwise would have been accounted for under the equity method of accounting. See Note 2 for further information about the fair value option. On August 31, 2012, the Company acquired additional shares to bring its ownership to approximately 51% of the outstanding common stock of Eris. The Company has accounted for the additional purchase of shares as a business combination achieved in stages under the accounting guidance for step acquisitions and consolidated Eris beginning September 1, 2012. | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | ' | 51.00% | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | ' | 27,000,000 | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | 2,000,000 | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Valuation Techniques | ' | 'The shares of Eris common stock were valued under the fair value hierarchy as a Level 1 Input. In addition, Level 1 Input fair value measurements were used to measure both the fair value of the Company’s preexisting investment and the fair value of the noncontrolling interest, which was $26 million. The Company recorded $8 million of goodwill (which is not deductible for tax purposes) and $18 million of intangible assets associated with this acquisition. The intangible assets associated with this acquisition consist primarily of finite-lived intangibles of $15 million for developed technology and customer relationships to be amortized on a straight-line basis over a period of 12 years and 10 years, respectively. In addition, an indefinite-lived trade name in the amount of $3 million was also recorded. The fair value of the significant identified intangible assets was estimated by using the market approach, income approach and cost approach valuation methodologies. Inputs used in the methodologies primarily included projected future cash flows, discounted at a rate commensurate with the risk involved. | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | 3,000,000 | ' | ' |
Business Combination, Reason for Business Combination | ' | 'The Company’s purpose for obtaining a controlling interest in Eris was to expand its semiconductor product offerings and to maximize its market opportunities. In addition, the Company's main interest in Eris is for its automatic manufacturing capabilities in test and assembly for various diode products. The business scope for Eris comprises Schottky Diodes, TVS Diodes, Zener Diodes, Bridge Diodes, Wafers, LEDs and the relevant devices. | ' | ' |
Goodwill, Acquired During Period | ' | 8,000,000 | ' | ' |
Acquired Finite-lived Intangible Asset, Amount | ' | 15,000,000 | ' | ' |
Acquired Finite Lived Intangible Assets Useful Life Minimum | ' | 10 | ' | ' |
Acquired Finite Lived Intangible Assets Useful Life Maximum | ' | 12 | ' | ' |
Acquired Indefinite-lived Intangible Asset, Amount | ' | 3,000,000 | ' | ' |
Business Acquisition, Effective Date of Acquisition | ' | 31-Aug-12 | ' | ' |
Acquisition of noncontrolling interest | ' | 26,000,000 | ' | ' |
Business Acquisition, Pro Forma Information, Description | ' | 'Unaudited pro forma results of operations assuming this acquisition had taken place at the beginning of each period are not provided as this acquisition does not meet the definition of a material business combination. | ' | ' |
BusinessAcquisitionProFormaInformationAbstract | ' | ' | ' | ' |
Business Acquisition, Pro Forma Information, Description | ' | 'Unaudited pro forma results of operations assuming this acquisition had taken place at the beginning of each period are not provided as this acquisition does not meet the definition of a material business combination. | ' | ' |
Power Analog Microelectronics [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | 1,000,000 | ' | ' |
Business Combination, Reason for Business Combination | ' | 'The Company acquired PAM as it believes PAM will strengthen its position as a global provider of high-quality analog products by expanding Diodes’ product portfolio with innovative 'filter-less' digital audio amplifiers, application-specific power management ICs, as well as high-performance LED drivers and DC-DC converters. | ' | ' |
Goodwill, Acquired During Period | ' | 9,000,000 | ' | ' |
Acquired Finite-lived Intangible Asset, Amount | ' | 6,000,000 | ' | ' |
Acquired Finite Lived Intangible Assets Useful Life Minimum | ' | 3 | ' | ' |
Acquired Finite Lived Intangible Assets Useful Life Maximum | ' | 12 | ' | ' |
Business Combination, Description | ' | 'On October 29, 2012, the Company acquired Power Analog Microelectronics, Inc. (“PAM”) for $16 million, $3 million of which was held back and will be paid over the next two years subject to the satisfaction of certain terms and conditions. PAM is a provider of advanced analog and high-voltage power ICs, and its product portfolio includes Class D audio amplifiers, DC-DC converters and LED backlighting drivers. PAM was founded in Silicon Valley in 2004 and has technical and business centers in Shanghai, Shenzhen, Taipei and Tokyo. | ' | ' |
Business Acquisition, Effective Date of Acquisition | ' | 29-Oct-12 | ' | ' |
Cash paid for the acquisition | ' | 16,000,000 | ' | ' |
Business Acquisition, Pro Forma Information, Description | ' | 'Unaudited pro forma results of operations assuming this acquisition had taken place at the beginning of each period are not provided as this acquisition does not meet the definition of a material business combination. | ' | ' |
Business Acquisition, Preacquisition Contingency, Amount | ' | 3,000,000 | ' | ' |
BusinessAcquisitionCostOfAcquiredEntityPurchasePriceAbstract | ' | ' | ' | ' |
Purchase price (cost of shares) | ' | 16,000,000 | ' | ' |
BusinessAcquisitionProFormaInformationAbstract | ' | ' | ' | ' |
Business Acquisition, Pro Forma Information, Description | ' | 'Unaudited pro forma results of operations assuming this acquisition had taken place at the beginning of each period are not provided as this acquisition does not meet the definition of a material business combination. | ' | ' |
BCD Semiconductor Manufacturing Limited [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Description | 'The step acquisition guidelines also require that the Company remeasure its preexisting investment in BCD at fair value, and recognize any gains or losses from such remeasurement. The fair value of the Company’s interest immediately before the closing date was $7 million, which resulted in the Company recognizing a non-cash gain of approximately $4 million within other income (expense) for the year ended December 31, 2013. The shares of BCD common stock were valued under the fair value hierarchy as a Level 1 Input. | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 7,000,000 | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 4,000,000 | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Valuation Techniques | 'The shares of BCD common stock were valued under the fair value hierarchy as a Level 1 Input. | ' | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 155,000,000 | ' | ' | ' |
Business Combination, Reason for Business Combination | 'The Company’s purpose in making this acquisition is to further its strategy of expanding its market and growth opportunities through select strategic acquisitions. This acquisition is expected to enhance the Company’s analog product portfolio by expanding its standard linear and power management offerings, including AC/DC and DC/DC solutions for power adapters and chargers, as well as other electronic products. BCD’s established presence in Asia, with a particularly strong local market position in China, offers the Company even greater penetration of the consumer, computing and communications markets. Likewise, the Company believes it can achieve increased market penetration for BCD’s products by leveraging the Company’s own global customer base and sales channels. In addition, BCD has in-house manufacturing capabilities in China, as well as a cost-effective development team that can be deployed across multiple product families. The Company also believes it will be able to apply its packaging capabilities and expertise to BCD’s products in order to improve cost efficiencies, utilization and product mix. | ' | ' | ' |
Acquired Finite-lived Intangible Asset, Amount | 17,000,000 | ' | ' | ' |
Business Acquisition, Effective Date of Acquisition | 5-Mar-13 | ' | ' | ' |
Cash paid for the acquisition | 154,735,000 | ' | ' | ' |
Business Acquisition, Pro Forma Information, Description | 'The following unaudited pro forma consolidated results of operations for the years ended December 31, 2013 and 2012 have been prepared as if the acquisition of BCD had occurred at January 1, 2012, for each year The unaudited pro forma consolidated results of operations do not purport to be indicative of the results that would have been obtained if the above acquisition had actually occurred as of the dates indicated or of those results that may be obtained in the future. These unaudited pro forma consolidated results of operations were derived, in part, from the historical consolidated financial statements of BCD and other available information and assumptions believed to be reasonable under the circumstances. | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Description of Purchase Price Components | 'the Company completed the acquisition of all the outstanding ordinary shares, par value $0.001 per share, of BCD (the “Shares”), including Shares represented by American Depository Shares (“ADSs”), which were cancelled in exchange for the right to receive $1.33-1/3 in cash per Share, without interest. Each ADS represented six Shares and was converted into the right to receive $8.00 in cash, without interest. The aggregate consideration was approximately $155 million, excluding acquisition costs, fees and expenses. In addition, a $5 million retention plan for employees of BCD, payable at the 12, 18 and 24 month anniversaries of the acquisition, has been established. | ' | ' | ' |
Retention Payable | 5,000,000 | ' | ' | ' |
Business Acquisition, Period Results Included in Combined Entity | '301 days | ' | ' | ' |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 6,000,000 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Methodology | 'The fair value of the significant identified intangible assets was estimated by using the market approach, income approach and cost approach valuation methodologies. Inputs used in the methodologies primarily included projected future cash flows, discounted at a rate commensurate with the risk involved. | ' | ' | ' |
Acquired Finite-lived Intangible Asset, Residual Value | 0 | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '6 years | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Goodwill, Expected Tax Deductible Amount, Description | 'goodwill will be deductible for income tax purposes | ' | ' | ' |
Acquired Inventory Reasonable Profit Allowance | 'The Company evaluated and adjusted the acquired inventory for a reasonable profit allowance, which is intended to permit the Company to report only the profits normally associated with its activities following the acquisition as it relates to the work-in-progress and finished goods inventory. As such, the Company increased the inventory acquired from BCD by approximately $5 million, and recorded that increase into cost of goods sold, of which approximately $2 million was recorded in the first quarter of 2013 and $3 million was recorded in the second quarter of 2013 as the acquired work-in-progress and finished goods inventory was sold. | ' | ' | ' |
Acquired Inventory Adjustments | 5,000,000 | ' | ' | ' |
Acquired Inventory Expenses To Cost Of Goods Sold | ' | ' | 3,000,000 | 2,000,000 |
Business Combination, Acquired Receivables, Description | 'The Company estimated the fair value of acquired receivables to be $21 million with a gross contractual amount of $21million. The Company expects to collect substantially all of the acquired receivables. | ' | ' | ' |
Business Combination, Acquired Receivables, Fair Value | 21,000,000 | ' | ' | ' |
Business Combination, Acquired Receivables, Gross Contractual Amount | 21,000,000 | ' | ' | ' |
Business Combination, Acquired Receivables, Estimated Uncollectible | 0 | ' | ' | ' |
Business Acquisition, Purchase Price Allocation [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | 29,819,000 | ' | ' | ' |
Accounts receivable, net | 20,862,000 | ' | ' | ' |
Inventory | 42,909,000 | ' | ' | ' |
Prepaid expenses and other current assets | 27,205,000 | ' | ' | ' |
Property, plant and equipment, net | 99,390,000 | ' | ' | ' |
Deferred tax assets | 1,612,000 | ' | ' | ' |
Other long-term assets | 5,497,000 | ' | ' | ' |
Other intangible assets | 17,200,000 | ' | ' | ' |
Goodwill | 2,518,000 | ' | ' | ' |
Total assets acquired | 247,012,000 | ' | ' | ' |
Lines of credit | 17,336,000 | ' | ' | ' |
Accounts payable | 34,758,000 | ' | ' | ' |
Accrued liabilities and other | 16,703,000 | ' | ' | ' |
Deferred tax liability | 5,055,000 | ' | ' | ' |
Other liabilities | 18,425,000 | ' | ' | ' |
Total liabilities assumed | 92,277,000 | ' | ' | ' |
Total net assets acquired, net of cash acquired | 154,735,000 | ' | ' | ' |
BusinessAcquisitionCostOfAcquiredEntityPurchasePriceAbstract | ' | ' | ' | ' |
Purchase price (cost of shares) | 154,735,000 | ' | ' | ' |
Acquisition related costs (included in selling, general and administrative expenses) | 2,075,000 | ' | ' | ' |
Total purchase price | 156,810,000 | ' | ' | ' |
BusinessAcquisitionProFormaInformationAbstract | ' | ' | ' | ' |
Net revenues | 847,947,000 | 776,650,000 | ' | ' |
Net income attributable to common stockholders | $25,513,000 | $19,233,000 | ' | ' |
Earnings per share-Basic | $0.55 | $0.42 | ' | ' |
Earnings per share-Diluted | $0.54 | $0.41 | ' | ' |
Business Acquisition, Pro Forma Information, Description | 'The following unaudited pro forma consolidated results of operations for the years ended December 31, 2013 and 2012 have been prepared as if the acquisition of BCD had occurred at January 1, 2012, for each year The unaudited pro forma consolidated results of operations do not purport to be indicative of the results that would have been obtained if the above acquisition had actually occurred as of the dates indicated or of those results that may be obtained in the future. These unaudited pro forma consolidated results of operations were derived, in part, from the historical consolidated financial statements of BCD and other available information and assumptions believed to be reasonable under the circumstances. | ' | ' | ' |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $210,993 | $224,510 | $214,379 | $176,964 | $163,287 | $166,617 | $159,239 | $144,663 | $826,846 | $633,806 | $635,251 |
Gross profit | 60,801 | 69,559 | 61,293 | 46,183 | 43,247 | 43,605 | 41,028 | 33,706 | 237,836 | 161,586 | 193,697 |
Net income attributable to common stockholders | $6,204 | $13,619 | $8,635 | ($1,926) | $4,075 | $8,553 | $6,653 | $4,871 | $26,532 | $24,152 | $50,737 |
Earnings per share attributable to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.13 | $0.29 | $0.19 | ($0.04) | $0.09 | $0.19 | $0.15 | $0.11 | $0.57 | $0.53 | $1.12 |
Diluted | $0.13 | $0.28 | $0.18 | ($0.04) | $0.09 | $0.18 | $0.14 | $0.10 | $0.56 | $0.51 | $1.09 |