Segment and Geographic Data

12 Months Ended

Dec. 31, 2025

Segment and Geographic Data [Abstract]

Note 15 – Segment and Geographic Data

Vishay is a global manufacturer and supplier of electronic components. Vishay operates, and its chief operating decision maker makes strategic and operating decisions with regards to assessing performance and allocating resources based on, six reporting segments: MOSFETs, Diodes, Optoelectronic Components, Resistors, Inductors, and Capacitors. These segments represent groupings of product lines based on their functionality:

●		Metal oxide semiconductor field effect transistors ("MOSFETs") function as solid state switches to control power.
●		Diodes route, regulate, and block radio frequency, analog, and power signals; protect systems from surges or electrostatic discharge damage; or provide electromagnetic interference filtering.
●		Optoelectronic components emit light, detect light, or do both.
●		Resistors are basic components used in all forms of electronic circuitry to adjust and regulate levels of voltage and current.
●		Inductors use an internal magnetic field to change alternating current phase and resist alternating current.
●		Capacitors store energy and discharge it when needed.

Vishay's reporting segments generate substantially all of their revenue from product sales to the industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and healthcare end markets. An immaterial portion of revenues are from royalties.

The Company’s chief operating decision maker is its President and Chief Executive Officer. The chief operating decision maker uses both gross profit and operating income, exclusive of certain items ("segment operating income") to make decisions, allocate resources, and assess performance, and the Company thus considers segment gross profit and operating income to be its measures of segment profit or loss. Only dedicated, direct selling, general, and administrative expenses of the segments are included in the calculation of segment operating income. The Company's calculation of segment operating income excludes selling, general, and administrative costs of its global operations, sales and marketing, information systems, finance, and administration groups, as well as restructuring and severance costs, goodwill impairment charges, and other items affecting comparability. Management believes that evaluating segment performance excluding such items is meaningful because it provides insight with respect to intrinsic operating results of the Company. These items represent reconciling items between segment operating income and consolidated operating income. Business segment assets are the owned or allocated assets used by each business.

Cost of products sold (excluding depreciation) is defined as the aggregate costs incurred in the production of goods for sale, excluding depreciation expense.

Depreciation expense in cost of products sold is defined as the aggregate expense recognized for the allocation of costs of tangible assets used in the production of goods to the periods that benefit from the use of the assets. It excludes depreciation expense attributed to selling, general, and administrative activities.

Segment gross profit is calculated as net revenues determined based on the U.S. GAAP definition, minus costs of goods sold and depreciation expense, as defined above.

Segment operating expenses is defined as the dedicated, direct selling, general, and administrative expenses, including research and development expenses attributed to the segment.

The following tables set forth business segment information:

	MOSFETs			Diodes		Optoelectronic Components		Resistors		Inductors		Capacitors		Corporate / Other		Total

Year ended December 31, 2025:
Net revenues	$	630,463		$	592,757	$	216,551	$	759,343	$	364,374	$	505,560	$	-	$	3,069,048

Cost of products sold (excluding depreciation)	$	514,631		$	426,449	$	156,391	$	553,777	$	247,154	$	379,229	$	-	$	2,277,631
Depreciation expense in cost of products sold		54,234			47,066		15,817		44,794		16,938		17,685		-		196,534
Total cost of products sold		568,865			473,515		172,208		598,571		264,092		396,914		-		2,474,165
Gross profit		61,598			119,242		44,343		160,772		100,282		108,646		-		594,883

Segment operating expenses	$	92,157		$	29,548	$	22,398	$	37,710	$	15,438	$	25,832	$	-	$	223,083
Segment operating income (loss)	$	(30,559	)	$	89,694	$	21,945	$	123,062	$	84,844	$	82,814	$	-	$	371,800

Total depreciation expense	$	56,913		$	48,349	$	16,272	$	45,532	$	17,371	$	17,851	$	9,254	$	211,542
Capital expenditures		182,367			31,936		8,938		21,300		4,358		20,881		3,513		273,293

Total assets as of December 31, 2025:	$	1,167,383		$	717,696	$	346,449	$	940,942	$	322,652	$	454,319	$	284,719	$	4,234,160

Year ended December 31, 2024:
Net revenues	$	601,979		$	581,975	$	212,368	$	725,614	$	356,355	$	459,296	$	-	$	2,937,587

Cost of products sold (excluding depreciation)	$	465,536		$	414,893	$	158,742	$	524,808	$	231,456	$	330,460	$	-	$	2,125,895
Depreciation expense in cost of products sold		49,342			45,920		15,374		41,848		17,819		15,097		-		185,400
Total cost of products sold		514,878			460,813		174,116		566,656		249,275		345,557		-		2,311,295
Gross profit		87,101			121,162		38,252		158,958		107,080		113,739		-		626,292

Segment operating expenses	$	80,243		$	25,281	$	21,393	$	33,217	$	14,818	$	23,469	$	-	$	198,421
Segment operating income	$	6,858		$	95,881	$	16,859	$	125,741	$	92,262	$	90,270	$	-	$	427,871

Total depreciation expense	$	51,301		$	47,099	$	15,784	$	42,568	$	17,940	$	15,293	$	8,976	$	198,961
Capital expenditures		224,998			29,534		10,451		30,301		6,339		13,609		4,847		320,079

Total assets as of December 31, 2024:	$	1,033,555		$	724,603	$	346,866	$	958,985	$	342,286	$	430,871	$	273,530	$	4,110,696

Year ended December 31, 2023:
Net revenues	$	778,754		$	690,540	$	243,146	$	843,472	$	347,392	$	498,741	$	-	$	3,402,045

Cost of products sold (excluding depreciation)	$	485,086		$	471,088	$	164,791	$	566,640	$	220,090	$	358,120	$	-	$	2,265,815
Depreciation expense in cost of products sold		34,282			43,831		16,129		38,404		14,888		14,203		-		161,737
Total cost of products sold		519,368			514,919		180,920		605,044		234,978		372,323		-		2,427,552
Gross profit		259,386			175,621		62,226		238,428		112,414		126,418		-		974,493

Segment operating expenses	$	63,593		$	22,159	$	19,263	$	29,003	$	12,730	$	21,433	$	-	$	168,181
Segment operating income	$	195,793		$	153,462	$	42,963	$	209,425	$	99,684	$	104,985	$	-	$	806,312

Total depreciation expense	$	35,965		$	44,904	$	16,496	$	39,781	$	14,963	$	14,269	$	8,079	$	174,457
Capital expenditures		132,543			62,185		23,228		67,085		10,767		21,914		11,688		329,410

Total assets as of December 31, 2023:	$	702,299		$	852,703	$	352,984	$	946,585	$	365,111	$	459,653	$	560,588	$	4,239,923

________________

Note 15 – Segment and Geographic Data (continued)

	Years ended December 31,
	2025			2024			2023
Reconciliation:
Segment Operating Income	$	371,800		$	427,871		$	806,312
Restructuring and Severance Costs		-			(40,614	)		-
Impairment of Goodwill		-			(66,487	)		-
Unallocated Selling, General, and Administrative Expenses		(314,932	)		(315,143	)		(320,168	)
Consolidated Operating Income	$	56,868		$	5,627		$	486,144
Unallocated Other Income (Expense)		(31,355	)		(8,016	)		(18,742	)
Consolidated Income (Loss) Before Taxes	$	25,513		$	(2,389	)	$	467,402

The Company has a broad line of products that it sells to OEMs, EMS companies, and independent distributors. The distribution of sales by customer type is shown below:

	Years Ended December 31,
	2025		2024		2023

Distributors	$	1,716,235	$	1,578,172	$	1,798,291
OEMs		1,147,048		1,156,852		1,378,065
EMS companies		205,765		202,563		225,689
	$	3,069,048	$	2,937,587	$	3,402,045

Net revenues were attributable to customers in the following regions:

	Years Ended December 31,
	2025		2024		2023

Asia	$	1,294,853	$	1,149,138	$	1,255,563
Europe		1,028,072		1,029,901		1,255,652
Americas		746,123		758,548		890,830
	$	3,069,048	$	2,937,587	$	3,402,045

Note 15 – Segment and Geographic Data (continued)

The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, military and aerospace, healthcare, power supplies, telecommunications, consumer products, and computing end markets. Sales by end market are presented below:

	Years Ended December 31,
	2025		2024		2023

Industrial	$	1,064,404	$	992,192	$	1,216,078
Automotive		1,088,090		1,097,713		1,202,923
Military and Aerospace		314,128		325,318		271,871
Healthcare		152,065		147,845		152,611
Other*		450,361		374,519		558,562
	$	3,069,048	$	2,937,587	$	3,402,045

*Power supplies, telecommunications, consumer products, and computing

The following table summarizes net revenues based on revenues generated by subsidiaries located within the identified geographic area:

	Years ended December 31,
	2025		2024		2023

United States	$	768,085	$	761,218	$	879,734
Germany		904,162		871,479		1,076,812
Other Europe		108,079		148,055		151,160
Israel		21,027		22,517		29,560
Asia		1,267,695		1,134,318		1,264,779
	$	3,069,048	$	2,937,587	$	3,402,045

The following table summarizes property and equipment based on physical location:

	December 31,
	2025		2024

United States	$	128,551	$	149,487
Germany		509,703		359,430
United Kingdom		246,323		214,838
Other Europe		154,862		137,109
Israel		99,017		109,277
People's Republic of China		207,662		236,068
Republic of China (Taiwan)		195,162		204,757
Other Asia		116,879		119,236
Other		15,000		15,536
	$	1,673,159	$	1,545,738

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

VISHAY INTERTECHNOLOGY INC 10-K