Diodes (DIOD) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Document type	10-Q
Document period end date	Mar. 31, 2021
Amendment flag	false
Entity registrant name	DIODES INC /DEL/
Entity central index key	0000029002
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity common stock shares outstanding		44,616,715
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	DIOD
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	002-25577
Entity Tax Identification Number	95-2039518
Entity Address, Address Line One	4949 Hedgcoxe Road
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	972
Local Phone Number	987-3900
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, Par Value $0.66 2/3
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 276,253	$ 268,065
Restricted cash	54,848	52,464
Short-term investments	8,366	6,142
Accounts receivable, net of allowances of $3,442 and $3,806 at March 31, 2021 and December 31, 2020, respectively	332,209	320,061
Inventories	289,972	307,062
Prepaid expenses and other	88,703	70,193
Total current assets	1,050,351	1,023,987
Property, plant and equipment, net	510,467	530,815
Deferred income tax	51,820	57,841
Goodwill	158,583	158,331
Intangible assets, net	106,570	110,591
Other long-term assets	112,551	97,892
Total assets	1,990,342	1,979,457
Current liabilities:
Lines of credit	67,624	140,563
Accounts payable	172,172	168,045
Accrued liabilities and other	159,486	160,117
Income tax payable	15,203	19,177
Current portion of long-term debt	18,353	21,860
Total current liabilities	432,838	509,762
Long-term debt, net of current portion	327,007	288,179
Deferred tax liabilities	34,561	34,598
Other long-term liabilities	138,956	130,795
Total liabilities	933,362	963,334
Commitments and contingencies (See Note 9)
Stockholders' equity
Preferred stock - par value $1.00 per share; 1,000,000 shares authorized; no shares issued or outstanding
Common stock - par value $0.66 2/3 per share; 70,000,000 shares authorized; 44,600,001 and 44,276,194, issued and outstanding at March 31, 2021 and December 31, 2020, respectively	35,908	35,692
Additional paid-in capital	446,697	449,598
Retained earnings	927,498	888,046
Treasury stock at cost, 9,259,858 shares at March 31, 2021 and December 31, 2020	(335,910)	(335,910)
Accumulated other comprehensive loss	(71,624)	(73,606)
Total stockholders' equity	1,002,569	963,820
Noncontrolling interest	54,411	52,303
Total equity	1,056,980	1,016,123
Total liabilities and stockholders' equity	$ 1,990,342	$ 1,979,457

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$ 3,442	$ 3,806
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	$ 0.666	$ 0.666
Common stock shares authorized	70,000,000	70,000,000
Common stock shares issued	44,600,001	44,276,194
Common stock shares outstanding	44,600,001	44,276,194
Treasury stock, shares	9,259,858	9,259,858

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net sales	$ 413,121	$ 280,717
Cost of goods sold	274,485	184,875
Gross profit	138,636	95,842
Operating expenses
Selling, general and administrative	58,676	42,215
Research and development	27,659	23,678
Amortization of acquisition related intangible assets	4,023	4,221
Other operating expense (income)	888	(124)
Total operating expense	91,246	69,990
Income from operations	47,390	25,852
Other income (expense)
Interest income	768	273
Interest expense	(2,864)	(1,245)
Foreign currency (loss) gain, net	(1,279,000)	75,000
Unrealized gain on investments	3,655
Other income	2,317	1
Total other income (expense)	2,597,000	(896,000)
Income before income taxes and noncontrolling interest	49,987	24,956
Income tax provision	9,434	4,556
Net income	40,553	20,400
Less net income attributable to noncontrolling interest	(1,101)	(232)
Net income attributable to common stockholders	$ 39,452	$ 20,168
Earnings per share attributable to common stockholders:
Basic	$ 0.89	$ 0.39
Diluted	$ 0.87	$ 0.38
Number of shares used in earnings per share computation:
Basic	44,408	51,335
Diluted	45,243	52,422

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest [Abstract]
Net income	$ 40,553	$ 20,400
Unrealized gain on defined benefit plan, net of tax	1,894	9,719
Unrealized gain (loss) on swaps and collars, net of tax	3,826	(1,438)
Unrealized foreign currency loss, net of tax	(3,738)	(9,614)
Comprehensive income	42,535	19,067
Less: Comprehensive income attributable to noncontrolling interest	(1,101)	(232)
Total comprehensive income attributable to common stockholders	$ 41,434	$ 18,835

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total Diodes Incorporated Stockholders' Equity	Noncontrolling Interest
BALANCE at Dec. 31, 2019	$ 1,152,783	$ 35,111	$ (37,768)	$ 427,262	$ 789,958	$ (108,139)	$ 1,106,424	$ 46,359
Common stock shares beginning at Dec. 31, 2019		52,664,000	(1,457,000)
Total comprehensive income	19,067				20,168	(1,333)	18,835	232
Contributions from noncontrolling interests	10,777							10,777
Dividends to noncontrolling interest	(108)							(108)
Common stock issued for share-based plans		$ 178		(178)
Common stock issued for share-based plans, shares		268,000
Share-based compensation	4,237			4,237			4,237
Stock buyback related to deferred compensation plan			$ (689)	689
Stock buyback related to deferred compensation plan, shares			(24,000)
Tax related to net share settlement	(4,467)			(4,467)			(4,467)
BALANCE at Mar. 31, 2020	1,182,289	$ 35,289	$ (38,457)	427,543	810,126	(109,472)	1,125,029	57,260
Common stock shares ending at Mar. 31, 2020		52,932,000	(1,481,000)
BALANCE at Dec. 31, 2020	$ 1,016,123	$ 35,692	$ (335,910)	449,598	888,046	(73,606)	963,820	52,303
Common stock shares beginning at Dec. 31, 2020	44,276,194	53,536,000	(9,260,000)
Total comprehensive income	$ 42,535				39,452	1,982	41,434	1,101
Net changes in noncontrolling interests	1,003			(4)			(4)	1,007
Common stock issued for share-based plans	754	$ 216		538			754
Common stock issued for share-based plans, shares		324,000
Share-based compensation	5,858			5,858			5,858
Tax related to net share settlement	(9,293)			(9,293)			(9,293)
BALANCE at Mar. 31, 2021	$ 1,056,980	$ 35,908	$ (335,910)	$ 446,697	$ 927,498	$ (71,624)	$ 1,002,569	$ 54,411
Common stock shares ending at Mar. 31, 2021	44,600,001	53,860,000	(9,260,000)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net income	$ 40,553	$ 20,400
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of acquisitions
Depreciation	26,440	22,809
Amortization of intangible assets	4,023	4,221
Share-based compensation expense	6,122	4,693
Deferred income taxes	1,012	17
Investment gain	(3,713)
Other	425	741
Changes in operating assets:
Change in accounts receivable	(12,993)	16,139
Change in inventory	6,490	2,550
Change in other operating assets	2,899	(1,022)
Changes in operating liabilities:
Change in accounts payable	11,266	(9,160)
Change in accrued liabilities	(8,310)	(12,105)
Change in income tax payable	(4,100)	3,853
Change in other operating liabilities	(1,918)	539
Net cash flows provided by operating activities	68,196	53,675
Cash flows from investing activities
Acquisitions, net of cash received		591
Purchases of property, plant and equipment	(17,179)	(14,208)
Proceeds from maturity of short-term investments	2,085	3,467
Purchases of short-term investments	(4,364)	(1,523)
Purchase of equity securities		(6,129)
Other	9,059	244
Net cash and cash equivalents used in investing activities	(10,399)	(17,558)
Cash flows from financing activities
Advances on lines of credit and short-term debt	2,820	3,647
Repayments of lines of credit and short-term debt	(75,696)	(3,498)
Proceeds from long-term debt	215,000	82,331
Repayments of long-term debt	(179,361)	(98,884)
Net proceeds from issuance of common stock	754
Repayment of and proceeds from finance lease obligation	(141)	(223)
Taxes paid related to net share settlement	(9,293)	(4,467)
Dividend distribution to noncontrolling interests		(108)
Capital contribution from noncontrolling interests	1,003
Other	(499)	(195)
Net cash and cash equivalents used in financing activities	(45,413)	(21,397)
Effect of exchange rate changes on cash and cash equivalents	(1,812)	(3,315)
Change in cash and cash equivalents, including restricted cash	10,572	11,405
Cash and cash equivalents, beginning of period, including restricted cash	320,529	259,507
Cash and cash equivalents, end of period, including restricted cash	331,101	270,912
Supplemental Cash Flow Information
Interest paid during the period	2,704	1,068
Taxes paid during the period	12,284	6,091
Non-cash investing and financing activities:
Accounts payable balance related to the purchase of property, plant and equipment	$ 7,960	$ 8,447

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2021	Mar. 31, 2021	Mar. 31, 2020
Current assets:
Cash and cash equivalents		$ 276,253	$ 269,516
Restricted cash (included in other current assets)		54,848	1,396
Total cash, cash equivalents and restricted cash		331,101	$ 270,912
Subsequent Event
Current assets:
Restricted cash released	$ 50,000
Pledged as Collateral
Current assets:
Restricted cash (included in other current assets)		$ 54,800
Pledged as Collateral | Subsequent Event
Current assets:
Restricted cash released	$ 50,000

Summary of Operations and Signi

Summary of Operations and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Operations and Significant Accounting Policies	NOTE 1 – Summary of Operations Diodes Incorporated, together with its subsidiaries (collectively “Diodes”, the “Company,” “we” or “our” (Nasdaq: DIOD), The Company’s products include diodes, rectifiers, transistors, MOSFETs, GPP bridges, GPP rectifiers, protection devices, function-specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors, power management devices, including LED drivers, AC-DC converters and controllers, DC-DC switching and linear voltage regulators, and voltage references along with special function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers. The Company also has timing, connectivity, switching, and signal integrity solutions for high-speed signals. The Company’s corporate headquarters and Americas’ sales office are located in Plano, Texas, and Milpitas, California. Design, marketing, and engineering centers are located in Plano; Milpitas; Taipei, Taoyuan City and Zhubei City, Taiwan; Shanghai, Yangzhou, China; Oldham, England; and Neuhaus, Germany. The Company’s wafer fabrication facilities are located in Oldham, Greenock, Scotland and Shanghai and Wuxi, China and Keelung and Hsinchu, Taiwan. The Company has assembly and test facilities located in Shanghai, Jinan, Chengdu and Wuxi, China as well as in Neuhaus, Germany and Jhongli and Keelung, Taiwan. Additional engineering, sales, warehouse, and logistics offices are located in Taipei, Taiwan; Hong Kong; Oldham, UK; Shanghai, Shenzhen, Wuhan and Yangzhou, China; Seongnam-si, South Korea; and Munich, Frankfurt, Germany; with support offices throughout the world. Our pro duct focus is on high-growth end-user equipment markets such as satellite TV set-top boxes, portable DVD players, datacom devices, ADSL modems, power supplies, medical devices (non-life support devices/systems), PCs and notebooks, flat panel displays, digital cameras, mobile handsets, AC-to-DC and DC-to-DC conversion, Wireless 802.11 LAN access points, brushless DC motor fans, serial connectivity, and automotive applications. Basis of Presentation The condensed consolidated financial data at December 31, 2020 are derived from audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission (“SEC”) on February 22, 2021 The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. As permitted under GAAP, interim accounting for certain expenses, including income taxes, are based on full year forecasts. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates taking into consideration discrete items occurring in a quarter. Dollar a mounts and share amounts are presented in thousands, except per share amounts, unless otherwise noted. Certain prior year’s balances may have been reclassified to conform to the current condensed consolidated financial statement presentation. E

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 2 – Earnings per Share Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the three months ended March 31, 2021 and 2020, we paid no dividends on our Common Stock. The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS: Three Months Ended March 31, 2021 2020 Earnings (numerator) Net income attributable to common stockholders $ 39,452 $ 20,168 Shares (denominator) Weighted average common shares outstanding (basic) 44,408 51,335 Dilutive effect of stock options and stock awards outstanding 835 1,087 Adjusted weighted average common shares outstanding (diluted) 45,243 52,422 Earnings per share attributable to common stockholders Basic $ 0.89 $ 0.39 Diluted $ 0.87 $ 0.38 Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive - 58

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventories	NOTE 3 – Inventories The table below sets forth inventories which are stated at the lower of cost or net realizable value: March 31, 2021 December 31, 2020 Finished goods $ 81,973 $ 85,506 Work-in-progress 78,095 73,466 Raw materials 129,904 148,090 Total $ 289,972 $ 307,062

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	NOTE 4 – Goodwill and Intangible Assets The table below sets forth the changes in goodwill : Balance at December 31, 2020 $ 158,331 Foreign currency translation adjustment 252 Balance at March 31, 2021 $ 158,583 The table below sets forth the value of intangible assets, other than goodwill: March 31, December 31, 2021 2020 Intangible assets subject to amortization: Gross carrying amount $ 246,687 $ 245,176 Accumulated amortization (144,733 ) (140,710 ) Foreign currency translation adjustment (7,799 ) (7,781 ) Total 94,155 96,685 Intangible assets with indefinite lives: Gross carrying amount 13,372 14,883 Foreign currency translation adjustment (957 ) (977 ) Total 12,415 13,906 Total intangible assets, net $ 106,570 $ 110,591 The table below sets forth amortization expense related to intangible assets subject to amortization: Amortization expense 2021 2020 Three months ended March 31, $ 4,023 $ 4,221

Income Tax Provision

Income Tax Provision	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Provision	NOTE 5 – Income Tax Provision The table below sets forth information related to our income tax expense: Three Months Ended March 31, 2021 2020 Domestic pre-tax income $ 7,069 $ 5,268 Foreign pre-tax income $ 42,918 $ 19,688 Income tax provision $ 9,434 $ 4,556 Effective tax rate 18.9 % 18.3 % Impact of tax holidays on tax expense $ (582 ) $ (1,074 ) Earnings per share impact of tax holidays: Basic $ 0.01 $ 0.02 Diluted $ 0.01 $ 0.02 The increase in the effective tax rate for the three months ended March 31, 2021 when compared to the three months ended March 31, 2020, is primarily attributable to a change in pre-tax earnings during the comparable periods. Our undistributed foreign earnings continue to be indefinitely reinvested in foreign operations, with limited exceptions related to earnings of certain European and Asian subsidiaries. Any future distributions of foreign earnings will not be subject to additional U.S. income tax, but may be subject to non-U.S. withholding taxes. We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. We are no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2012, or for the 2015 tax year. We are no longer subject to China income tax examinations by tax authorities for tax years before 2010. With respect to state and local jurisdictions and countries outside of the U.S. (other than China), with limited exceptions, the Company is no longer subject to income tax audits for years before 2015. Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest and penalties, if any, have been provided for in the Company’s reserve for any adjustments that may result from currently pending tax audits. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in interest expense. As of March 31, 2021, the gross amount of unrecognized tax benefits was approximately $43.9 million. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions will significantly increase or decrease within the next 12 months. At this time, an estimate of the range of the reasonably possible outcomes cannot be made.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share Based Compensation [Abstract]
Share-Based Compensation	NOTE 6 – Share-Based Compensation For the three months ended March 31, 2021, we recognized stock option expense of approximately $0.02 million. This stock option expense is related to stock options granted by Savitech Corporation Three Months Ended March 31, 2021 2020 Cost of goods sold $ 275 $ 273 Selling, general and administrative 5,033 3,711 Research and development 814 709 Total share-based compensation expense $ 6,122 $ 4,693 Share Grants – Restricted stock awards and restricted stock units generally vest in equal annual installments over a four-year four-year Performance stock units (“PSUs”) are measured based on the fair market value of the underlying stock on the date of grant, and compensation expense is recognized over the three-year As of March 31, 2021, total unrecognized share-based compensation expense related to share grants was approximately $52.2 million, before income taxes, and is expected to be recognized over a weighted average period of approximately 2.2 years.

Segment Information and Net Sal

Segment Information and Net Sales	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information and Net Sales	NOTE 7 – Segment Information and Net Sales Segment Reporting. For financial reporting purposes, we operate in a single segment, standard semiconductor products, through our various manufacturing and distribution facilities. We aggregate our products because the products are similar and have similar economic characteristics, use similar production processes and share similar customer type. Our primary operations include operations in Asia, North America and Europe. No customer accounted for 10% or more of our net sales or outstanding accounts receivable at any point in the periods presented in this Quarterly Report. The tables below set forth net sales based on the location of the subsidiary producing the net sale. As of and for the Three Months Ended March 31, 2021 Asia Americas Europe Consolidated Total sales $ 471,069 $ 246,827 $ 60,174 $ 778,070 Intercompany elimination (178,950 ) (160,829 ) (25,170 ) (364,949 ) Net sales $ 292,119 $ 85,998 $ 35,004 $ 413,121 Property, plant and equipment, net $ 400,149 $ 24,539 $ 85,779 $ 510,467 Total assets $ 1,461,428 $ 240,063 $ 288,851 $ 1,990,342 As of and for the Three Months Ended March 31, 2020 Asia Americas Europe Consolidated Total sales $ 301,863 $ 168,172 $ 59,001 $ 529,036 Intercompany elimination (116,921 ) (104,464 ) (26,934 ) (248,319 ) Net sales $ 184,942 $ 63,708 $ 32,067 $ 280,717 Property, plant and equipment, net $ 364,624 $ 24,110 $ 67,388 $ 456,122 Total assets $ 1,208,572 $ 197,178 $ 214,516 $ 1,620,266 Disaggregation of Net Sales. We disaggregate net sales with customers into direct sales and distribution sales (“Distributors”) and by geographic area. Direct sales customers consist of those customers using our product in their manufacturing process, and Distributors are those customers who resell our products to third parties. We deliver our products to customers around the world for use in consumer electronics, computing, communications, industrial and automotive markets. Further, most of our contracts are fixed-price arrangements, and are short term in nature, ranging from days to several months. The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment and by type (direct sales or Distributor Three Months Ended March 31, Net Sales by Region 2021 2020 Asia $ 334,976 $ 210,805 Europe 48,386 46,931 Americas 29,759 22,981 Total net sales $ 413,121 $ 280,717 Net Sales by Type Direct sales $ 147,722 $ 99,544 Distributor sales 265,399 181,173 Total net sales $ 413,121 $ 280,717 Net sales from products shipped to China was $222.3 million and $138.9 million for the three months ended March 31, 2021 and 2020, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	NOTE 8 – Debt Short-term debt Our Asia subsidiaries maintain credit facilities with several financial institutions through our foreign entities worldwide totaling $205.5 million. Other than two Taiwanese credit facilities that are collateralized by assets, our foreign credit lines are unsecured, uncommitted and contain no restrictive covenants. These credit facilities bear interest at LIBOR or similar indices plus a specified margin. Interest payments are due monthly on outstanding amounts under the credit lines. The unused and available credit under the various facilities as of March 31, 2021, was approximately $ 127.9 67.6 deposits have been restricted in support of a corresponding loan amount. During April 2021 $ 50.0 million of the restricted cash was released from all contractual restrictions, as the applicable loans were repaid in full. Long-term debt The Company maintains a long-term credit facility (“Credit Agreement”) consisting of a term loan with a current balance of $ 218.0 and a $ 150.0 evolving senior credit facility. The Company used a portion of the proceeds available under the term commitment and the revolving senior credit facility to finance the Company’s acquisition of Lite-On Semiconductor Corporation. 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 restricted payments (including dividends and share repurchases). Furthermore, under the Credit Agreement, restricted payments, including dividends and share repurchases, are permitted in certain circumstances, including while the pro forma Consolidated Leverage Ratio is, both before and after giving effect to any such restricted payment, at least 0.25 to 1.00 less than the maximum permitted under the Credit Agreement. Borrowings outstanding as of March 31, 2021 and December 31, 2020, are set forth in the table below: March 31, December 31, Current Amount Description 2021 2020 Interest Rate Maturity Short-term debt $ 67,624 $ 140,567 Libor plus margin Various during 2021 Long-term debt Term loan and revolver $ 217,969 $ 282,250 Libor plus margin May 2024 Notes payable to Bank of Taiwan 4,067 4,154 Variable, 1.3% base June 2033 Notes payable to Bank of China Trust Company 3,504 3,511 Taibor 3 month rate + 0.5% December 2021 Notes payable to Bank of China Trust Company 16,678 16,714 Taibor 3 month rate + 0.5% May 2024 Notes payable to E Sun Bank 3,504 3,511 1-M deposit rate plus 0.08% December 2022 Notes payable to E Sun Bank 385 386 1-M deposit rate plus 0.08% June 2027 Notes payable to E Sun Bank 1,717 1,721 1-M deposit rate plus 0.08% June 2030 Notes payable to HSBC 100,000 - Libor plus margin January 2023 Total long-term debt 347,824 312,247 Less: Current portion of long-term debt (18,353 ) (21,860 ) Less: Unamortized debt costs (2,464 ) (2,208 ) Total long-term debt, net of current portion $ 327,007 $ 288,179

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 – Commitments and Contingencies Purchase commitments – As of March 31, 2021, we had approximately $58.6 million in non-cancelable purchase contracts related to capital expenditures, primarily related to our manufacturing facilities in Asia. As of March 31, 2021, we also had a commitment to purchase approximately $40.4 million of wafers to be used in our manufacturing process during 2021 and 2022. Defined Benefit Plan - We have a contributory defined benefit plan that covers certain employees in the United Kingdom. As of March 31, 2021, the underfunded liability for this defined benefit plan was approximately $25.1 million. An actuarial valuation was performed as of March 31, 2019, resulting in a deficit of approximately GBP 26.7 million (approximately $37.4 million based on a GBP: USD exchange rate of 1.4:1). As a result of this valuation we have agreed to a revised schedule of contributions of GBP 2.0 million (approximately $2.8 million based on a GBP: USD exchange rate of 1.4:1) to be paid in annual installments with effect from April 1, 2020 to address the deficit revealed by the valuation (with the first payment made by March 31, 2021, and payments to be made by December 31 each year thereafter). These contributions, together with the assumed asset outperformance, are expected to eliminate the deficit by December 31, 2028. Further, we will pay GBP 0.2 million (approximately $ 0.3 million based on GBP: USD exchange rate oat 1.4:1 ) in annual installments to cover expenses. Contingencies – From time to time, we are involved in various legal proceedings that arise in the normal course of business. While we intend to defend any lawsuit vigorously, we presently believe that the ultimate outcome of any pending legal proceeding will not have any material adverse effect on our consolidated financial position, cash flows or operating results. However, litigation is subject to inherent uncertainties, and unfavorable rulings could occur. An unfavorable ruling could include monetary damages, which could impact our business and operating results for the period in which the ruling occurs or future periods. Based on information available, we evaluate the likelihood of potential outcomes of all pending disputes. We record an appropriate liability when the amount of any liability associated with a pending dispute is deemed probable and reasonably estimable. In addition, we do not accrue for estimated legal fees and other directly related costs as they are expensed as incurred. The Company is not currently a party to any pending litigation that the Company considers material.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 10 – Derivative Financial Instruments We use derivative instruments to manage risks related to foreign currencies, interest rates and the net investment risk in our foreign subsidiaries. Our objectives for holding derivatives include reducing, eliminating, and efficiently managing the economic impact of these exposures as effectively as possible. Our derivative programs include strategies that both qualify and do not qualify for hedge accounting treatment. Hedges of Foreign Currency Risk - We are exposed to fluctuations in various foreign currencies against our different functional currencies. We use foreign currency forward agreements to manage this exposure. At March 31, 2021 and December 31, 2020, we had $268.2 million and $276.2 million, respectively, of outstanding foreign currency forward agreements that are intended to preserve the economic value of foreign currency denominated monetary assets and liabilities; these instruments are not designated for hedge accounting treatment in accordance with ASC No. 815. We have recorded foreign currency forward agreements with a fair value of $0.2 on million our consolidated balance sheet. Hedges of Interest Rate and Net Investment Risk - The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps, including interest rate collars, as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The table below sets forth the fair value of the Company’s interest rate related derivative financial instruments as well as their classification on our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020: Other Current Liabilities 2021 2020 Interest rate swaps and collars $ 1,130 $ 1,626 The tables below set forth the effect of the Company’s derivative financial instruments on our condensed consolidated statements of income for the three months ended March 31, 2021 and 2020: Amount of Gain or (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Net Income Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Derivative Instruments Designated as Hedging Instruments March 31, March 31, March 31, 2021 2020 2021 2020 2021 2020 Three Months Ended Interest rate swaps and collars $ (5 ) $ (1,390 ) Interest expense $ (161 ) $ (71 ) N/A $ - $ - Cross currency swaps $ 3,163 $ - N/A $ - $ - Interest income $ 610 $ - We estimate that $0.4 million of net derivative gains included in accumulated other comprehensive income (“AOCI”) as of March 31, 2021 will be reclassified into expense within the following 12 months. No gains or losses were reclassified from AOCI into earnings as a result of forecasted transactions that failed to occur during three ended March 31, 2021 or 2020. Amount of Gain or (Loss) Recognized in Net Income Location of Gain or (Loss) Recognized in Net Income Derivative Instruments Not Designated as Hedging Instruments March 31, 2021 2020 Three Months Ended Foreign currency forward contracts $ (2,806 ) $ (2,147 ) Foreign currency loss, net As of March 31, 2021 and December 31, 2020, the Company had not posted any collateral related to these agreements.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	NOTE 11 – Leases The Company leases certain assets used in its business, including land, buildings and equipment. These leased assets are used for operational and administrative purposes. The components of lease expense are set forth in the table below: Three Months Ended March 31, 2021 2020 Operating lease expense $ 4,235 $ 3,730 Finance lease expense: Amortization of assets 211 209 Interest on lease liabilities 1 7 Short-term lease expense 245 94 Variable lease expense 1,129 711 Total lease expense $ 5,821 $ 4,751 The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion: March 31, 2021 December 31, 2020 Operating leases: Operating lease ROU assets $63,305 $54,457 Current operating lease liabilities 13,891 10,663 Noncurrent operating lease liabilities 32,722 27,041 Total operating lease liabilities $46,613 $37,704 Finance leases: Finance lease ROU assets $2,545 $2,507 Accumulated amortization (2,515) (2,298) Finance lease ROU assets, net $30 $209 Current finance lease liabilities $10 $149 Non-current finance lease liabilities 21 24 Total finance lease liabilities $31 $173 Weighted average remaining lease term (in years): Operating leases 6.7 7.6 Finance leases 3.0 0.6 Weighted average discount rate: Operating leases 4.0% 4.0% Finance leases 3.7% 3.1% The table below sets forth supplemental cash flow and other information related to leases: Three Months Ended March 31, 2021 March 31, 2020 Cash paid for the amounts included in the measurements of lease liabilities: Operating cash outflows from operating leases $5,570 $4,018 Operating cash outflows from finance leases 1 7 Financing cash outflow from finance leases 141 223 ROU assets obtained in exchange for lease liabilities incurred: Operating leases 11,640 127 The table below sets forth information about lease liability maturities: March 31, 2021 Operating Leases Finance Leases Remainder of 2020 $ 11,683 $ 9 2021 13,921 11 2022 9,015 10 2023 4,226 3 2024 4,042 - 2025 2,659 - 2026 and thereafter 8,536 - Total lease payments 54,082 33 Less: imputed interest (7,469) (2) Total lease obligations 46,613 31 Less: current obligations (13,891) (10) Long-term lease obligations $ 32,722 $ 21

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE 12 – Employee Benefit Plans We maintain a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors. The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. We offset our obligations under the Deferred Compensation Plan primarily by investing in the actual underlying investments. At March 31, 2021 and December 31, 2020, these investments totaled approximately $13.2 million and $12.8 million, respectively.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Parties	NOTE 13 – We historically conducted business with a related party company, Lite-On Semiconductor Corporation (“LSC”), and its subsidiaries and affiliates. LSC was also our largest stockholder, owning approximately 15% of our outstanding Common Stock., prior to the close of the acquisition by Diodes. On November 30, 2020, we acquired LSC and LSC is no longer a stockholder or related party, but instead it is a wholly owned subsidiary of ours. We conduct business with Keylink International (B.V.I.) Inc. and its subsidiaries and affiliates (“Keylink”). Keylink is our 5% joint venture partner in our Shanghai assembly and test facilities. We sell products to, and purchase inventory from, companies owned by Keylink. We sold products to companies owned by Keylink, totaling approximately 1% of our net sales for the three months ended periods ended March 31, 2021 and March 30, 2020. In addition, our subsidiaries in China lease their manufacturing facilities in Shanghai from, and subcontract a portion of our manufacturing process (metal plating and environmental services) to, Keylink. We also pay a consulting fee to Keylink. The aggregate amounts paid to Keylink for the three months ended March 31, 2021 and, 2020 were approximately $4.3 million and $3.1 million, respectively. In addition, Chengdu Ya Guang Electronic Company Limited (“Ya Guang”) is our 2% joint venture partner in one of our Chengdu assembly and test facilities and our 5% partner in our other Chengdu assembly and test facilities; however, we have no material transactions with Ya Guang, other than these joint ventures. We also purchase materials from Jiyuan Crystal Photoelectric Frequency Technology Ltd. (“JCP”) a frequency control product manufacturing company in which we have made an equity investment and account for using the equity method of accounting. The C t a e e i i a a c t m The table below sets forth net sales to and purchases from related parties: Three Months Ended March 31, 2021 2020 LSC Net sales $ - $ 128 Purchases $ - $ 2,748 Nuvoton Purchases $ 1,407 $ 1,644 Keylink Net sales $ 5,566 $ 3,985 Purchases $ 479 $ 405 JCP Purchases $ 359 $ 156 The table below sets forth accounts receivable from, and accounts payable to, related parties: March 31, December 31, 2021 2020 Nuvoton Accounts receivable $ - $ 10 Accounts payable $ 793 $ 796 Keylink Accounts receivable $ 38,049 $ 35,365 Accounts payable $ 33,877 $ 31,247 JCP Accounts payable $ 408 $ 357

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 14 –Acquisitions and Divestitures Manufacturing Subsidiary Located in China In March 2021 Diodes entered into an agreement to sell a manufacturing subsidiary in China for total consideration of approximately $18.0 million, which includes a combination of cash and equity. The transaction is expected to close within the next twelve months and is subject to customary closing conditions and working capital adjustments. Management determined that the disposal group met the held-for-sale criteria and reclassified the carrying value of the disposal group to assets held-for-sale, which is included in prepaid expenses and other in the consolidated balance sheet. The Company recognized no gain or loss on the reclassification of the disposal group to held-for-sale. A final determination of the value of the assets and liabilities divested has not been completed and the table below is considered preliminary. The table below sets forth the major classes of assets and liabilities that have been classified as held-for-sale on the condensed consolidated balance sheet Assets Cash and cash equivalents $ 4,172 Accounts receivable 219 Inventories, net 7,982 Property, plant and equipment 8,282 Deferred income tax 4,870 Other long-term assets 540 Assets classified as held for sale 26,065 Liabilities Accounts payable 6,646 Accrued liabilities and other 1,792 Other long-term liabilities 29 Liabilities classified as held for sale 8,467 Net assets classified as held for sale (included in prepaid expenses and other) $ 17,598 LSC Acquisition On November 30, 2020, the Company closed on its previously announced acquisition of LSC, a Taiwan-based supplier of “green” power-related discrete and analog semiconductor devices. The Company purchased LSC in order to include LSC’s “green” power-related semiconductor devices that are designed for power saving and low power dissipation to serve the power supply market, and to reacquire the 7,765,778 of the Company’s common shares owned by LSC, which was approximately 15% of our outstanding shares prior to the close of such acquisition. The reacquired shares were treated as a settlement of a pre-existing relationship and as a transaction separate and apart from the business combination along with the settlement of payables and receivables between the Company and LSC. The reacquired shares are included in treasury stock on the Company’s balance sheet. There was no gain or loss on the settlement of the payables and receivables between the Company and LSC. The Company recorded the purchase of LSC as a business combination, with the Company owning 100% of LSC. LSC has been consolidated into the operations of the Company. The purchase price per the Share Swap Agreement was 42.50 TWD per outstanding LSC share. On November 30, 2020, the Company acquired the 307,371,139 outstanding shares of LSC for a total aggregate purchase price of approximately $453.4 million and total consideration of $154.0 million after adjustments for the settlement of pre-existing relationships. A portion of the LSC purchase price was funded by borrowings under the Company’s Credit Agreement. The table below sets forth the fair value of the LSC assets acquired and liabilities assumed based on relative fair value at the date of acquisition and the corresponding line item in the Company’s consolidated balance sheet at the date of acquisition. During the period from January 1, 2021 and March 31, 2021, measurement period adjustments were made to inventories, property, plant and equipment, and accrued liabilities and other. The adjustments represented a decrease to total assets acquired and a decrease to total liabilities assumed of $0.1 million. U.S. GAAP permits companies to complete the final determination of the fair values during the measurement period following the acquisition date. The size and breadth of the LSC acquisition will necessitate the use of this measurement period to adequately analyze and assess a number of the factors used in establishing the asset and liability fair values as of the acquisition date including (i) changes in fair values of property, plant and equipment and inventories, (ii) changes in fair value of certain liabilities assumed and (iii) tax impact associated with any other changes in fair value. Any potential adjustments made could be material in relation to the preliminary values. A final determination of the LSC assets acquired and liabilities assumed has not been completed and the table below is considered preliminary. The Company engaged a third party valuation specialist to assist with the assessment of any intangibles assets acquired as part of the LSC acquisition, and it was determined that there were no intangible assets as a result of the LSC acquisition. Cash and cash equivalents $ 131,046 Accounts receivable 44,896 Inventories 55,710 Prepaid expenses and other current assets 11,447 Property, plant and equipment 67,952 Deferred income tax 15,732 Other long-term assets 26,037 Total assets acquired 352,820 Line of credit 88,508 Accounts payable 35,245 Accrued liabilities and other 48,992 Income tax payable 6,264 Deferred tax liabilities 8,941 Other long-term liabilities 10,783 Total liabilities assumed 198,733 Non-controlling interest 54 Net assets acquired $ 154,033 Savitech Acquisition On February 5, 2020, the Company entered into an agreement to invest up to approximately $14.2 million to acquire at least 51% of Savitech Corporation (“Savitech”), a fabless semiconductor design company located in Zhubei City, Taiwan. The Company will make the investment in two tranches. The first tranche of $5.6 million, which provided the Company with a 33.6% ownership of Savitech, was made on March 4, 2020. The initial tranche was funded with cash on hand. The second tranche, currently recorded in accrued liabilities and other, as shown in the table below, and currently valued at $8.5 million will increase the Company’s ownership to at least 51% of Savitech. The second tranche will be paid on June 30, 2021, provided Savitech achieves previously agreed-to revenue levels. If revenue levels are not achieved the Company will pay less than the maximum $8.6 million, but regardless of the amount paid for the second tranche, the Company will still acquire at least 51% of Savitech. The Company recorded the purchase of Savitech as a business acquisition and now consolidates Savitech into its operations, based on the voting model, with a non-controlling interest related to the interest the Company does not own in Savitech. The Company made its investment in Savitech in order to increase the Company’s integrated circuit business. Cash and cash equivalents $ 6.2 Prepaid expenses and other 0.7 Goodwill 13.9 Intangible assets, net 6.1 Other long-term assets 0.4 Accrued liabilities and other 9.9 Noncontrolling interest 11.8

Summary of Operations and Sig_2

Summary of Operations and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Operations	Summary of Operations Diodes Incorporated, together with its subsidiaries (collectively “Diodes”, the “Company,” “we” or “our” (Nasdaq: DIOD), The Company’s products include diodes, rectifiers, transistors, MOSFETs, GPP bridges, GPP rectifiers, protection devices, function-specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors, power management devices, including LED drivers, AC-DC converters and controllers, DC-DC switching and linear voltage regulators, and voltage references along with special function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers. The Company also has timing, connectivity, switching, and signal integrity solutions for high-speed signals. The Company’s corporate headquarters and Americas’ sales office are located in Plano, Texas, and Milpitas, California. Design, marketing, and engineering centers are located in Plano; Milpitas; Taipei, Taoyuan City and Zhubei City, Taiwan; Shanghai, Yangzhou, China; Oldham, England; and Neuhaus, Germany. The Company’s wafer fabrication facilities are located in Oldham, Greenock, Scotland and Shanghai and Wuxi, China and Keelung and Hsinchu, Taiwan. The Company has assembly and test facilities located in Shanghai, Jinan, Chengdu and Wuxi, China as well as in Neuhaus, Germany and Jhongli and Keelung, Taiwan. Additional engineering, sales, warehouse, and logistics offices are located in Taipei, Taiwan; Hong Kong; Oldham, UK; Shanghai, Shenzhen, Wuhan and Yangzhou, China; Seongnam-si, South Korea; and Munich, Frankfurt, Germany; with support offices throughout the world. Our pro duct focus is on high-growth end-user equipment markets such as satellite TV set-top boxes, portable DVD players, datacom devices, ADSL modems, power supplies, medical devices (non-life support devices/systems), PCs and notebooks, flat panel displays, digital cameras, mobile handsets, AC-to-DC and DC-to-DC conversion, Wireless 802.11 LAN access points, brushless DC motor fans, serial connectivity, and automotive applications.
Basis of Presentation	Basis of Presentation The condensed consolidated financial data at December 31, 2020 are derived from audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission (“SEC”) on February 22, 2021 The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. As permitted under GAAP, interim accounting for certain expenses, including income taxes, are based on full year forecasts. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates taking into consideration discrete items occurring in a quarter. Dollar a mounts and share amounts are presented in thousands, except per share amounts, unless otherwise noted. Certain prior year’s balances may have been reclassified to conform to the current condensed consolidated financial statement presentation. E

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS: Three Months Ended March 31, 2021 2020 Earnings (numerator) Net income attributable to common stockholders $ 39,452 $ 20,168 Shares (denominator) Weighted average common shares outstanding (basic) 44,408 51,335 Dilutive effect of stock options and stock awards outstanding 835 1,087 Adjusted weighted average common shares outstanding (diluted) 45,243 52,422 Earnings per share attributable to common stockholders Basic $ 0.89 $ 0.39 Diluted $ 0.87 $ 0.38 Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive - 58

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory Current	The table below sets forth inventories which are stated at the lower of cost or net realizable value: March 31, 2021 December 31, 2020 Finished goods $ 81,973 $ 85,506 Work-in-progress 78,095 73,466 Raw materials 129,904 148,090 Total $ 289,972 $ 307,062

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The table below sets forth the changes in goodwill : Balance at December 31, 2020 $ 158,331 Foreign currency translation adjustment 252 Balance at March 31, 2021 $ 158,583
Schedule of Intangible Assets Other Than Goodwill	The table below sets forth the value of intangible assets, other than goodwill: March 31, December 31, 2021 2020 Intangible assets subject to amortization: Gross carrying amount $ 246,687 $ 245,176 Accumulated amortization (144,733 ) (140,710 ) Foreign currency translation adjustment (7,799 ) (7,781 ) Total 94,155 96,685 Intangible assets with indefinite lives: Gross carrying amount 13,372 14,883 Foreign currency translation adjustment (957 ) (977 ) Total 12,415 13,906 Total intangible assets, net $ 106,570 $ 110,591
Schedule of Amortization Expense Related to Intangible Assets	The table below sets forth amortization expense related to intangible assets subject to amortization: Amortization expense 2021 2020 Three months ended March 31, $ 4,023 $ 4,221

Income Tax Provision (Tables)

Income Tax Provision (Tables)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Information Related to Income Tax Expense	The table below sets forth information related to our income tax expense: Three Months Ended March 31, 2021 2020 Domestic pre-tax income $ 7,069 $ 5,268 Foreign pre-tax income $ 42,918 $ 19,688 Income tax provision $ 9,434 $ 4,556 Effective tax rate 18.9 % 18.3 % Impact of tax holidays on tax expense $ (582 ) $ (1,074 ) Earnings per share impact of tax holidays: Basic $ 0.01 $ 0.02 Diluted $ 0.01 $ 0.02

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share Based Compensation [Abstract]
Schedule of Share-Based Compensation Expense	The table below sets forth the line items where share-based compensation expense was recorded: Three Months Ended March 31, 2021 2020 Cost of goods sold $ 275 $ 273 Selling, general and administrative 5,033 3,711 Research and development 814 709 Total share-based compensation expense $ 6,122 $ 4,693

Segment Information and Net S_2

Segment Information and Net Sales (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Net Sales from Based on Location of the Subsidiary	The tables below set forth net sales based on the location of the subsidiary producing the net sale. As of and for the Three Months Ended March 31, 2021 Asia Americas Europe Consolidated Total sales $ 471,069 $ 246,827 $ 60,174 $ 778,070 Intercompany elimination (178,950 ) (160,829 ) (25,170 ) (364,949 ) Net sales $ 292,119 $ 85,998 $ 35,004 $ 413,121 Property, plant and equipment, net $ 400,149 $ 24,539 $ 85,779 $ 510,467 Total assets $ 1,461,428 $ 240,063 $ 288,851 $ 1,990,342 As of and for the Three Months Ended March 31, 2020 Asia Americas Europe Consolidated Total sales $ 301,863 $ 168,172 $ 59,001 $ 529,036 Intercompany elimination (116,921 ) (104,464 ) (26,934 ) (248,319 ) Net sales $ 184,942 $ 63,708 $ 32,067 $ 280,717 Property, plant and equipment, net $ 364,624 $ 24,110 $ 67,388 $ 456,122 Total assets $ 1,208,572 $ 197,178 $ 214,516 $ 1,620,266
Schedule of Net Sales by Direct Sales or Distributor and Location	The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment and by type (direct sales or Distributor Three Months Ended March 31, Net Sales by Region 2021 2020 Asia $ 334,976 $ 210,805 Europe 48,386 46,931 Americas 29,759 22,981 Total net sales $ 413,121 $ 280,717 Net Sales by Type Direct sales $ 147,722 $ 99,544 Distributor sales 265,399 181,173 Total net sales $ 413,121 $ 280,717

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings outstanding as of March 31, 2021 and December 31, 2020, are set forth in the table below: March 31, December 31, Current Amount Description 2021 2020 Interest Rate Maturity Short-term debt $ 67,624 $ 140,567 Libor plus margin Various during 2021 Long-term debt Term loan and revolver $ 217,969 $ 282,250 Libor plus margin May 2024 Notes payable to Bank of Taiwan 4,067 4,154 Variable, 1.3% base June 2033 Notes payable to Bank of China Trust Company 3,504 3,511 Taibor 3 month rate + 0.5% December 2021 Notes payable to Bank of China Trust Company 16,678 16,714 Taibor 3 month rate + 0.5% May 2024 Notes payable to E Sun Bank 3,504 3,511 1-M deposit rate plus 0.08% December 2022 Notes payable to E Sun Bank 385 386 1-M deposit rate plus 0.08% June 2027 Notes payable to E Sun Bank 1,717 1,721 1-M deposit rate plus 0.08% June 2030 Notes payable to HSBC 100,000 - Libor plus margin January 2023 Total long-term debt 347,824 312,247 Less: Current portion of long-term debt (18,353 ) (21,860 ) Less: Unamortized debt costs (2,464 ) (2,208 ) Total long-term debt, net of current portion $ 327,007 $ 288,179

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Interest Rate Related Derivative Financial Instruments and Their Classification on Our Condensed Consolidated Balance Sheets	The table below sets forth the fair value of the Company’s interest rate related derivative financial instruments as well as their classification on our condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020: Other Current Liabilities 2021 2020 Interest rate swaps and collars $ 1,130 $ 1,626
Summary of Effect of Derivative Financial Instruments on Our Condensed Consolidated Statements of Operations	The tables below set forth the effect of the Company’s derivative financial instruments on our condensed consolidated statements of income for the three months ended March 31, 2021 and 2020: Amount of Gain or (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Net Income Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Derivative Instruments Designated as Hedging Instruments March 31, March 31, March 31, 2021 2020 2021 2020 2021 2020 Three Months Ended Interest rate swaps and collars $ (5 ) $ (1,390 ) Interest expense $ (161 ) $ (71 ) N/A $ - $ - Cross currency swaps $ 3,163 $ - N/A $ - $ - Interest income $ 610 $ - Amount of Gain or (Loss) Recognized in Net Income Location of Gain or (Loss) Recognized in Net Income Derivative Instruments Not Designated as Hedging Instruments March 31, 2021 2020 Three Months Ended Foreign currency forward contracts $ (2,806 ) $ (2,147 ) Foreign currency loss, net

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Components of Lease Expense	The components of lease expense are set forth in the table below: Three Months Ended March 31, 2021 2020 Operating lease expense $ 4,235 $ 3,730 Finance lease expense: Amortization of assets 211 209 Interest on lease liabilities 1 7 Short-term lease expense 245 94 Variable lease expense 1,129 711 Total lease expense $ 5,821 $ 4,751
Supplemental Balance Sheet Information Related to Leases	The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion: March 31, 2021 December 31, 2020 Operating leases: Operating lease ROU assets $63,305 $54,457 Current operating lease liabilities 13,891 10,663 Noncurrent operating lease liabilities 32,722 27,041 Total operating lease liabilities $46,613 $37,704 Finance leases: Finance lease ROU assets $2,545 $2,507 Accumulated amortization (2,515) (2,298) Finance lease ROU assets, net $30 $209 Current finance lease liabilities $10 $149 Non-current finance lease liabilities 21 24 Total finance lease liabilities $31 $173 Weighted average remaining lease term (in years): Operating leases 6.7 7.6 Finance leases 3.0 0.6 Weighted average discount rate: Operating leases 4.0% 4.0% Finance leases 3.7% 3.1%
Supplemental Cash Flow and Other Information Related to Leases	The table below sets forth supplemental cash flow and other information related to leases: Three Months Ended March 31, 2021 March 31, 2020 Cash paid for the amounts included in the measurements of lease liabilities: Operating cash outflows from operating leases $5,570 $4,018 Operating cash outflows from finance leases 1 7 Financing cash outflow from finance leases 141 223 ROU assets obtained in exchange for lease liabilities incurred: Operating leases 11,640 127
Schedule of Operating and Finance Lease Liability Maturities	The table below sets forth information about lease liability maturities: March 31, 2021 Operating Leases Finance Leases Remainder of 2020 $ 11,683 $ 9 2021 13,921 11 2022 9,015 10 2023 4,226 3 2024 4,042 - 2025 2,659 - 2026 and thereafter 8,536 - Total lease payments 54,082 33 Less: imputed interest (7,469) (2) Total lease obligations 46,613 31 Less: current obligations (13,891) (10) Long-term lease obligations $ 32,722 $ 21

Related Parties (Tables)

Related Parties (Tables)	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Schedule of Net Sales and Purchases of Related Party Transactions	The table below sets forth net sales to and purchases from related parties: Three Months Ended March 31, 2021 2020 LSC Net sales $ - $ 128 Purchases $ - $ 2,748 Nuvoton Purchases $ 1,407 $ 1,644 Keylink Net sales $ 5,566 $ 3,985 Purchases $ 479 $ 405 JCP Purchases $ 359 $ 156
Schedule of Account Receivable and Payable of Related Party Transactions	The table below sets forth accounts receivable from, and accounts payable to, related parties: March 31, December 31, 2021 2020 Nuvoton Accounts receivable $ - $ 10 Accounts payable $ 793 $ 796 Keylink Accounts receivable $ 38,049 $ 35,365 Accounts payable $ 33,877 $ 31,247 JCP Accounts payable $ 408 $ 357

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2021
Summary of Major Classes of Assets and Liabilities Classified as Held-for-Sale on Condensed Consolidated Balance Sheet	The table below sets forth the major classes of assets and liabilities that have been classified as held-for-sale on the condensed consolidated balance sheet Assets Cash and cash equivalents $ 4,172 Accounts receivable 219 Inventories, net 7,982 Property, plant and equipment 8,282 Deferred income tax 4,870 Other long-term assets 540 Assets classified as held for sale 26,065 Liabilities Accounts payable 6,646 Accrued liabilities and other 1,792 Other long-term liabilities 29 Liabilities classified as held for sale 8,467 Net assets classified as held for sale (included in prepaid expenses and other) $ 17,598
Lite On Semiconductor
Summary of Fair Value of Assets and Liabilities Related to Acquisition Recorded in Condensed Consolidated Balance Sheet	The table below sets forth the fair value of the LSC assets acquired and liabilities assumed based on relative fair value at the date of acquisition and the corresponding line item in the Company’s consolidated balance sheet at the date of acquisition. During the period from January 1, 2021 and March 31, 2021, measurement period adjustments were made to inventories, property, plant and equipment, and accrued liabilities and other. The adjustments represented a decrease to total assets acquired and a decrease to total liabilities assumed of $0.1 million. U.S. GAAP permits companies to complete the final determination of the fair values during the measurement period following the acquisition date. The size and breadth of the LSC acquisition will necessitate the use of this measurement period to adequately analyze and assess a number of the factors used in establishing the asset and liability fair values as of the acquisition date including (i) changes in fair values of property, plant and equipment and inventories, (ii) changes in fair value of certain liabilities assumed and (iii) tax impact associated with any other changes in fair value. Any potential adjustments made could be material in relation to the preliminary values. A final determination of the LSC assets acquired and liabilities assumed has not been completed and the table below is considered preliminary. The Company engaged a third party valuation specialist to assist with the assessment of any intangibles assets acquired as part of the LSC acquisition, and it was determined that there were no intangible assets as a result of the LSC acquisition. Cash and cash equivalents $ 131,046 Accounts receivable 44,896 Inventories 55,710 Prepaid expenses and other current assets 11,447 Property, plant and equipment 67,952 Deferred income tax 15,732 Other long-term assets 26,037 Total assets acquired 352,820 Line of credit 88,508 Accounts payable 35,245 Accrued liabilities and other 48,992 Income tax payable 6,264 Deferred tax liabilities 8,941 Other long-term liabilities 10,783 Total liabilities assumed 198,733 Non-controlling interest 54 Net assets acquired $ 154,033
Savitech Acquisition
Summary of Fair Value of Assets and Liabilities Related to Acquisition Recorded in Condensed Consolidated Balance Sheet	The table below sets forth the fair value of the assets and liabilities recorded in the acquisition and the corresponding line item in which the item is recorded in our condensed consolidated balance sheet at the date of acquisition. Cash and cash equivalents $ 6.2 Prepaid expenses and other 0.7 Goodwill 13.9 Intangible assets, net 6.1 Other long-term assets 0.4 Accrued liabilities and other 9.9 Noncontrolling interest 11.8

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings per share reconciliation disclosure	Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive.
Common stock dividends paid	$ 0	$ 0

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings (numerator)
Net income attributable to common stockholders	$ 39,452	$ 20,168
Shares (denominator)
Weighted average common shares outstanding (basic)	44,408	51,335
Dilutive effect of stock options and stock awards outstanding	835	1,087
Adjusted weighted average common shares outstanding (diluted)	45,243	52,422
Earnings per share attributable to common stockholders
Basic	$ 0.89	$ 0.39
Diluted	$ 0.87	$ 0.38
Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		58

Inventories - Schedule of Inven

Inventories - Schedule of Inventory Current (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 81,973		$ 85,506
Work-in-progress	78,095		73,466
Raw materials	129,904		148,090
Total	$ 289,972	$ 307,062	$ 307,062

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill
Goodwill beginning balance	$ 158,331
Foreign currency translation adjustment	252
Goodwill ending balance	$ 158,583

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Intangible assets subject to amortization
Gross carrying amount	$ 246,687	$ 245,176
Accumulated amortization	(144,733)	(140,710)
Foreign currency translation adjustment	(7,799)	(7,781)
Total	94,155	96,685
Intangible assets with indefinite lives
Gross carrying amount	13,372	14,883
Foreign currency translation adjustment	(957)	(977)
Total	12,415	13,906
Total intangible assets, net	$ 106,570	$ 110,591

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 4,023	$ 4,221

Income Tax Provision - Schedule

Income Tax Provision - Schedule of Information Related to Income Tax Expense (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Domestic pre-tax income	$ 7,069	$ 5,268
Foreign pre-tax income	42,918	19,688
Income tax provision	$ 9,434	$ 4,556
Effective tax rate	18.90%	18.30%
Impact of tax holidays on tax expense	$ (582)	$ (1,074)
Earnings per share impact of tax holidays:
Basic	$ 0.01	$ 0.02
Diluted	$ 0.01	$ 0.02

Income Tax Provision - Addition

Income Tax Provision - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 43.9
Income tax examination, description	We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. We are no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2012, or for the 2015 tax year. We are no longer subject to China income tax examinations by tax authorities for tax years before 2010. With respect to state and local jurisdictions and countries outside of the U.S. (other than China), with limited exceptions, the Company is no longer subject to income tax audits for years before 2015. Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest and penalties, if any, have been provided for in the Company’s reserve for any adjustments that may result from currently pending tax audits. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in interest expense.
Significant change in unrecognized tax benefits, nature of event	It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions will significantly increase or decrease within the next 12 months.
Significant change in unrecognized tax benefits is reasonably possible, estimated range not possible	At this time, an estimate of the range of the reasonably possible outcomes cannot be made.

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expense	$ 6,122	$ 4,693
Cash proceeds received from stock option exercises	$ 800
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 2 months 12 days
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 52,200
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	4 years
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	4 years
Restricted Stock Awards and Restricted Stock Units | 2001 Omnibus Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award granted in period	0
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	3 years
Savitech
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expense	$ 20

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 6,122	$ 4,693
Cost of Goods Sold
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	275	273
Selling, General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	5,033	3,711
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 814	$ 709

Segment Information and Net S_3

Segment Information and Net Sales - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)Customer	Mar. 31, 2020USD ($)Customer
Entity Wide Revenue Major Customer [Line Items]
Number of customer did not account for 10% or greater of net sales | Customer	0	0
Net sales	$ 413,121	$ 280,717
China
Entity Wide Revenue Major Customer [Line Items]
Net sales	$ 222,300	$ 138,900

Segment Information and Net S_4

Segment Information and Net Sales - Schedule of Net Sales From Based on Location of the Subsidiary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 413,121	$ 280,717
Property, plant and equipment, net	510,467	456,122	$ 530,815
Total assets	1,990,342	1,620,266	$ 1,979,457
Operating Segments
Segment Reporting Information [Line Items]
Net sales	778,070	529,036
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	(364,949)	(248,319)
Asia
Segment Reporting Information [Line Items]
Net sales	292,119	184,942
Property, plant and equipment, net	400,149	364,624
Total assets	1,461,428	1,208,572
Asia | Operating Segments
Segment Reporting Information [Line Items]
Net sales	471,069	301,863
Asia | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	(178,950)	(116,921)
Americas
Segment Reporting Information [Line Items]
Net sales	85,998	63,708
Property, plant and equipment, net	24,539	24,110
Total assets	240,063	197,178
Americas | Operating Segments
Segment Reporting Information [Line Items]
Net sales	246,827	168,172
Americas | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	(160,829)	(104,464)
Europe
Segment Reporting Information [Line Items]
Net sales	35,004	32,067
Property, plant and equipment, net	85,779	67,388
Total assets	288,851	214,516
Europe | Operating Segments
Segment Reporting Information [Line Items]
Net sales	60,174	59,001
Europe | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net sales	$ (25,170)	$ (26,934)

Segment Information and Net S_5

Segment Information and Net Sales - Schedule of Net Sales by Direct Sales or Distributor and Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	$ 413,121	$ 280,717
Direct Sales
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	147,722	99,544
Distributor Sales
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	265,399	181,173
Asia
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	334,976	210,805
Europe
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	48,386	46,931
Americas
Segment Reporting Revenue Reconciling Item [Line Items]
Total net sales	$ 29,759	$ 22,981

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Line Of Credit Facility [Line Items]
Lines of credit unused and available		$ 127,900,000
Line of credit facility advanced under foreign credit line		67,600,000
Line of Credit Facility Credit Used For Guarantee		500,000
Long term debt		$ 347,824,000	$ 312,247,000
ERIS Technology Corporation
Line Of Credit Facility [Line Items]
Percentage of shares acquired by subsidiary in acquiree		51.00%
Short-term debt		$ 13,300,000
Long term debt		$ 30,000,000
Debt maturity period term		2021 through 2033
Term Commitment
Line Of Credit Facility [Line Items]
Lines of credit maximum borrowing capacity		$ 218,000,000
Revolver
Line Of Credit Facility [Line Items]
Lines of credit maximum borrowing capacity		$ 150,000,000
Credit Agreement
Line Of Credit Facility [Line Items]
Financial and non-financial convenants, description		Furthermore, under the Credit Agreement, restricted payments, including dividends and share repurchases, are permitted in certain circumstances, including while the pro forma Consolidated Leverage Ratio is, both before and after giving effect to any such restricted payment, at least 0.25 to 1.00 less than the maximum permitted under the Credit Agreement.
Subsequent Event
Line Of Credit Facility [Line Items]
Restricted cash released	$ 50,000,000
Unsecured
Line Of Credit Facility [Line Items]
Lines of credit maximum borrowing capacity		$ 205,500,000
Restricted cash deposits		$ 54,800,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 347,824	$ 312,247
Less: Current portion of long-term debt	(18,353)	(21,860)
Less: Unamortized debt costs	(2,464)	(2,208)
Long-term debt, net of current portion	327,007	288,179
Various during 2021
Debt Instrument [Line Items]
Short-term debt	$ 67,624	140,567
Short-term debt, Interest Rate	Libor plus margin
Notes Payable to Bank | Bank of Taiwan | June 2033
Debt Instrument [Line Items]
Total long-term debt	$ 4,067	4,154
Long-term debt, Interest Rate	Variable, 1.3% base
Notes Payable to Bank | China Trust Bank | May 2024
Debt Instrument [Line Items]
Total long-term debt	$ 16,678	16,714
Long-term debt, Interest Rate	Taibor 3 month rate + 0.5%
Notes Payable to Bank | China Trust Bank | December 2021
Debt Instrument [Line Items]
Total long-term debt	$ 3,504	3,511
Long-term debt, Interest Rate	Taibor 3 month rate + 0.5%
Notes Payable to Bank | E Sun Bank | December 2022
Debt Instrument [Line Items]
Total long-term debt	$ 3,504	3,511
Long-term debt, Interest Rate	1-M deposit rate plus 0.08%
Notes Payable to Bank | E Sun Bank | June 2027
Debt Instrument [Line Items]
Total long-term debt	$ 385	386
Long-term debt, Interest Rate	1-M deposit rate plus 0.08%
Notes Payable to Bank | E Sun Bank | June 2030
Debt Instrument [Line Items]
Total long-term debt	$ 1,717	1,721
Long-term debt, Interest Rate	1-M deposit rate plus 0.08%
Notes Payable to Bank | HSBC | January 2023
Debt Instrument [Line Items]
Total long-term debt	$ 100,000
Long-term debt, Interest Rate	Libor plus margin
Term Loan and Revolver | May 2024
Debt Instrument [Line Items]
Total long-term debt	$ 217,969	$ 282,250
Long-term debt, Interest Rate	Libor plus margin

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) £ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)$ / £	Mar. 31, 2021GBP (£)$ / £	Mar. 31, 2019USD ($)$ / £	Mar. 31, 2019GBP (£)$ / £
Commitments And Contingencies Disclosure [Abstract]
Purchase Commitments	$ 58.6
Long-term purchase commitment, Amount	$ 40.4
Defined benefit plan, estimated future employer contributions in current fiscal year, description	We have a contributory defined benefit plan that covers certain employees in the United Kingdom.  As of March 31, 2021, the underfunded liability for this defined benefit plan was approximately $25.1 million.  An actuarial valuation was performed as of March 31, 2019, resulting in a deficit of approximately GBP 26.7 million (approximately $37.4 million based on a GBP: USD exchange rate of 1.4:1). As a result of this valuation we have agreed to a revised schedule of contributions of GBP 2.0 million (approximately $2.8 million based on a GBP: USD exchange rate of 1.4:1) to be paid in annual installments with effect from April 1, 2020 to address the deficit revealed by the valuation (with the first payment made by March 31, 2021, and payments to be made by December 31 each year thereafter). These contributions, together with the assumed asset outperformance, are expected to eliminate the deficit by December 31, 2028. Further, we will pay GBP 0.2 million (approximately $0.3 million based on GBP: USD exchange rate oat 1.4:1) in annual installments to cover expenses.
Defined benefit plan, annual future benefit payments	$ 2.8	£ 2
Unfunded liability of defined benefit plan, deficit			$ 37.4	£ 26.7
Defined benefit plan, additional annual future benefit payments	$ 0.3	£ 0.2
GBP:USD exchange rate | $ / £	1.4	1.4	1.4	1.4
Unfunded liability of defined benefit plan	$ 25.1

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative [Line Items]
Objectives for using derivative instruments	The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps, including interest rate collars, as part of its interest rate risk management strategy.  Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.
Net derivative gain will be reclassified from AOCI into net income		$ 400,000
Posted collateral related to agreements	$ 0		$ 0
Foreign Currency Forward Contracts
Derivative [Line Items]
Fair value of foreign exchange hedges	200,000
Fair value of foreign currency derivative instruments not designated as hedging	$ 268,200,000		$ 276,200,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Value of Interest Rate Related Derivative Financial Instruments and Their Classification on Our Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Interest Rate Swaps and Collars | Designated as Hedging Instrument | Other Current Liabilities
Derivative [Line Items]
Fair value of derivative instruments, liability derivatives	$ 1,130	$ 1,626

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Our Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Designated as Hedging Instrument | Interest Rate Swaps and Collars
Derivative Instruments Gain Loss [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative	$ (5)	$ (1,390)
Location of Gain or (Loss) Reclassified from Accumulated OCI into Income	Interest expense
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Net Income	$ (161)	(71)
Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion Excluded from Effectiveness Testing)	N/A
Designated as Hedging Instrument | Cross Currency Swaps
Derivative Instruments Gain Loss [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative	$ 3,163
Location of Gain or (Loss) Reclassified from Accumulated OCI into Income	N/A
Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion Excluded from Effectiveness Testing)	Interest income
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	$ 610
Not Designated as Hedging Instrument | Foreign Currency Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain or (Loss) Recognized in Net Income	$ (2,806)	$ (2,147)
Location of Gain or (Loss) Recognized in Net Income	Foreign currency loss, net

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease expense	$ 4,235	$ 3,730
Finance lease expense:
Amortization of assets	211	209
Interest on lease liabilities	1	7
Short-term lease expense	245	94
Variable lease expense	1,129	711
Total lease expense	$ 5,821	$ 4,751

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Operating leases:
Operating lease ROU assets	$ 63,305	$ 54,457
Current operating lease liabilities	13,891	10,663
Noncurrent operating lease liabilities	32,722	27,041
Total operating lease liabilities	46,613	37,704
Finance leases:
Finance lease ROU assets	2,545	2,507
Accumulated amortization	(2,515)	(2,298)
Finance lease ROU assets, net	30	209
Current finance lease liabilities	10	149
Non-current finance lease liabilities	21	24
Total finance lease liabilities	$ 31	$ 173
Weighted average remaining lease term (in years):
Operating leases	6 years 8 months 12 days	7 years 7 months 6 days
Finance leases	3 years	7 months 6 days
Weighted average discount rate:
Operating leases	4.00%	4.00%
Finance leases	3.70%	3.10%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$ 5,570	$ 4,018
Operating cash outflows from finance leases	1	7
Financing cash outflow from finance leases	141	223
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases	$ 11,640	$ 127

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Lease Liability Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating Leases, Remainder of 2020	$ 11,683
Operating Leases, 2021	13,921
Operating Leases, 2022	9,015
Operating Leases, 2023	4,226
Operating Leases, 2024	4,042
Operating Leases, 2025	2,659
Operating Leases, 2026 and thereafter	8,536
Operating Leases, Total lease payments	54,082
Operating Leases, Less: imputed interest	(7,469)
Total operating lease liabilities	46,613	$ 37,704
Operating Leases, Less: current obligations	(13,891)	(10,663)
Noncurrent operating lease liabilities	32,722	27,041
Finance Leases, Remainder of 2020	9
Finance Leases, 2021	11
Finance Leases, 2022	10
Finance Leases, 2023	3
Finance Leases, Total lease payments	33
Finance Leases, Less: imputed interest	(2)
Total finance lease liabilities	31	173
Finance Leases, Less: current obligations	(10)	(149)
Non-current finance lease liabilities	$ 21	$ 24

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - Deferred Compensation Plan - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation arrangements, overall, description	We maintain a Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) for executive officers, key employees and members of the Board of Directors. The Deferred Compensation Plan allows eligible participants to defer the receipt of eligible compensation, including equity awards, until designated future dates. We offset our obligations under the Deferred Compensation Plan primarily by investing in the actual underlying investments. At March 31, 2021 and December 31, 2020, these investments totaled approximately $13.2 million and $12.8 million, respectively.
Deferred compensation plan assets	$ 13.2	$ 12.8

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lite On Semiconductor
Related Party Transaction [Line Items]
Related Party ownership of common stock	15.00%
Related Party Transaction, Description of Transaction	LSC was also our largest stockholder, owning approximately 15% of our outstanding Common Stock., prior to the close of the acquisition by Diodes.
Keylink
Related Party Transaction [Line Items]
Related Party ownership of common stock	5.00%
Related Party Transaction, Description of Transaction	Keylink is our 5% joint venture partner in our Shanghai assembly and test facilities.
Related Party Transaction Revenues Percentage from Transactions with Related Party	1.00%	1.00%
Related Party Transaction Consulting Fees from Transactions with Related Party	$ 4.3	$ 3.1
Chengdu Ya Guang Electronic Company Limited ("Ya Guang")
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction	In addition, Chengdu Ya Guang Electronic Company Limited (“Ya Guang”) is our 2% joint venture partner in one of our Chengdu assembly and test facilities and our 5% partner in our other Chengdu assembly and test facilities
Chengdu Ya Guang Electronic Company Limited ("Ya Guang") | Chengdu | Assembly and Test Facility One
Related Party Transaction [Line Items]
Related Party ownership of common stock	2.00%
Chengdu Ya Guang Electronic Company Limited ("Ya Guang") | Chengdu | Assembly and Test Facility Two
Related Party Transaction [Line Items]
Related Party ownership of common stock	5.00%

Related Parties - Schedule of N

Related Parties - Schedule of Net Sales and Purchases of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lite On Semiconductor
Related Party Transaction [Line Items]
Net sales from related parties		$ 128
Purchases from related parties		2,748
Nuvoton
Related Party Transaction [Line Items]
Purchases from related parties	$ 1,407	1,644
Keylink
Related Party Transaction [Line Items]
Net sales from related parties	5,566	3,985
Purchases from related parties	479	405
JCP
Related Party Transaction [Line Items]
Purchases from related parties	$ 359	$ 156

Related Parties - Schedule of A

Related Parties - Schedule of Account Receivable and Payable of Related Party Transactions (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Nuvoton
Related Party Transaction [Line Items]
Accounts receivable		$ 10
Accounts payable	$ 793	796
Keylink
Related Party Transaction [Line Items]
Accounts receivable	38,049	35,365
Accounts payable	33,877	31,247
JCP
Related Party Transaction [Line Items]
Accounts payable	$ 408	$ 357

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Details)	Nov. 30, 2020USD ($)shares	Feb. 05, 2020USD ($)Tranche	Mar. 31, 2021USD ($)	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Nov. 30, 2020$ / shares	Mar. 04, 2020USD ($)
Lite On Semiconductor
Business Acquisition [Line Items]
Acquisition date	Nov. 30, 2020
Business acquisition shares repurchased | shares	7,765,778
Business acquisition shares repurchased percentage	15.00%
Business combination separately recognized transactions, gain or loss on settlement of accounts payables	$ 0
Business combination separately recognized transactions, gain or loss on settlement of accounts receivables	$ 0
Percentage of shares acquired by subsidiary in acquiree	100.00%
Business acquisition, share price | $ / shares						$ 42.50
Business acquisition, shares acquired | shares	307,371,139
Purchase price	$ 453,400,000
Total consideration after adjustments for the settlement of pre-existing relationship	154,000,000
Decrease in recognized identifiable assets acquired due to measurement period adjustments	100,000
Decrease in recognized identifiable liabilities assumed due to measurement period adjustments	100,000
Intangible assets	$ 0
Savitech Corporation (“Savitech”)
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement		Feb. 5, 2020
Agreement amount to be invested		$ 14,200,000
Ownership percentage							33.60%
Number of tranche investment | Tranche		2
Total consideration paid		$ 13,900,000
Savitech Corporation (“Savitech”) | Minimum
Business Acquisition [Line Items]
Ownership percentage		51.00%			51.00%
Savitech Corporation (“Savitech”) | Maximum
Business Acquisition [Line Items]
Investment amount					$ 8,600,000
Savitech Corporation (“Savitech”) | Selling, General and Administrative
Business Acquisition [Line Items]
Acquisition costs		$ 100,000
Savitech Corporation (“Savitech”) | Tranche One
Business Acquisition [Line Items]
Investment amount							$ 5,600,000
Savitech Corporation (“Savitech”) | Tranche Two | Minimum
Business Acquisition [Line Items]
Ownership percentage					51.00%
Savitech Corporation (“Savitech”) | Tranche Two | Maximum
Business Acquisition [Line Items]
Investment amount					$ 8,500,000
Assets Held-for-Sale
Business Acquisition [Line Items]
Total consideration paid			$ 18,000,000	$ 18,000,000
Discontinued operation description and timing of disposal				The transaction is expected to close within the next twelve months and is subject to customary closing conditions and working capital adjustments.
Gain or loss on reclassification of disposal group to held-for-sale			$ 0

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Summary of Major Classes of Assets and Liabilities Classified as Held-for-Sale on Condensed Consolidated Balance Sheet (Details) - Assets Held-for-Sale $ in Thousands	Mar. 31, 2021USD ($)
Assets
Cash and cash equivalents	$ 4,172
Accounts receivable	219
Inventories, net	7,982
Property, plant and equipment	8,282
Deferred income tax	4,870
Other long-term assets	540
Assets classified as held for sale	26,065
Liabilities
Accounts payable	6,646
Accrued liabilities and other	1,792
Other long-term liabilities	29
Liabilities classified as held for sale	8,467
Net assets classified as held for sale (included in prepaid expenses and other)	$ 17,598

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Summary of Fair Value of Assets and Liabilities Related to Acquisition Recorded in Condensed Consolidated Balance Sheet (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Nov. 30, 2020	Mar. 04, 2020
Business Acquisition [Line Items]
Goodwill	$ 158,583,000	$ 158,331,000
Lite On Semiconductor
Business Acquisition [Line Items]
Cash and cash equivalents			$ 131,046,000
Accounts receivable			44,896,000
Inventories			55,710,000
Prepaid expenses and other current assets			11,447,000
Property, plant and equipment			67,952,000
Deferred income tax			15,732,000
Intangible assets, net			0
Other long-term assets			26,037,000
Total assets acquired			352,820,000
Line of credit			88,508,000
Accounts payable			35,245,000
Accrued liabilities and other			48,992,000
Income tax payable			6,264,000
Deferred tax liabilities			8,941,000
Other long-term liabilities			10,783,000
Total liabilities assumed			198,733,000
Non-controlling interest			54,000
Net assets acquired			$ 154,033,000
Savitech Acquisition
Business Acquisition [Line Items]
Cash and cash equivalents				$ 6,200,000
Prepaid expenses and other current assets				700,000
Goodwill				13,900,000
Intangible assets, net				6,100,000
Other long-term assets				400,000
Accrued liabilities and other				9,900,000
Non-controlling interest				$ 11,800,000