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Tables in the 10-K of MONOLITHIC POWER SYSTEMS, INC.

68 tables with numbers, filed Mar 1, 2021. Each one downloads as an Excel file or a CSV (numbers are stored as numbers), with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

		Page
PART I
Item 1.	Business	5
	Information about Executive Officers	10
Item 1A.	Risk Factors	11
Item 1B.	Unresolved Staff Comments	28
Item 2.	Properties	28
Item 3.	Legal Proceedings	28

		Percentage of Total Revenue
End Markets	Applications	2020		2019		2018
Computing and storage	Storage networks, computers and notebooks, printers, servers and workstations		30.0%		30.1%		27.3%
Automotive	Infotainment, safety and connectivity applications		12.9%		14.4%		13.8%
Industrial	Power sources, security, point-of-sale systems, smart meters and other industrial equipment		14.2%		15.8%		15.2%
Communications	Networking and telecommunication infrastructure, routers and modems, wireless access points and voice over IP		16.8%		13.5%		12.1%
Consumer	Set-top boxes, monitors, gaming, lighting, chargers, home appliances, cellular handsets, wearables, digital video players, GPS, televisions, stereos and cameras		26.1%		26.2%		31.6%

Name	Age	Position
Michael Hsing	61	President, Chief Executive Officer and Director
Bernie Blegen	63	Vice President and Chief Financial Officer
Deming Xiao	58	President of Asia Operations
Maurice Sciammas	61	Senior Vice President of Worldwide Sales and Marketing
Saria Tseng	50	Vice President, Strategic Corporate Development, General Counsel and Corporate Secretary

Location	Approximate Building Square Footage		Primary Use
Owned:
United States:
Kirkland, Washington		70,000		Principal executive office, research and development, sales and marketing
Livonia, Michigan		40,000		Sales and marketing, research and development
San Jose, California		106,000		Research and development, sales and marketing, administrative
International:
Chengdu, China		200,000		Research and development, administrative

	Year Ended December 31,
	2020		2019			2018
	(in thousands, except percentages)
Revenue	$844,452			100.0%			$627,921		100.0%		$582,382		100.0%
Cost of revenue		378,498			44.8			281,596		44.8		259,714		44.6
Gross profit		465,954			55.2			346,325		55.2		322,668		55.4
Operating expenses:
Research and development		137,598			16.3			107,757		17.2		93,455		16.0

	Year Ended December 31,		Change
End Market	2020		% of Revenue			2019		% of Revenue		2018			% of Revenue		From 2019 to 2020	From 2018 to 2019
	(in thousands, except percentages)
Computing and storage	$253,177			30.0%			$189,215		30.1%			$159,121			27.3%		33.8%		18.9%
Automotive		108,966			12.9			90,303			14.4			80,078		13.8		20.7%		12.8%
Industrial		119,603			14.2			99,381			15.8			88,472		15.2		20.3%		12.3%
Communications		142,326			16.8			84,794			13.5			70,589		12.1		67.8%		20.1%
Consumer		220,380			26.1			164,228			26.2			184,122		31.6		34.2%		(10.8)%

	December 31,
	2020		2019
	(in thousands, except percentages)
Cash and cash equivalents	$334,944		$172,960
Short-term investments		260,169		282,437
Total cash, cash equivalents and short-term investments	$595,113		$455,397
Percentage of total assets		49.2%		47.6%
Total current assets	$841,998		$655,206

				Payment Due by Period
	Total		Less Than 1 Year			1 - 3 Years	3 - 5 Years	More Than 5 years
	(in thousands)
Operating lease obligations (1)	$7,848		$2,407			$3,321	$2,120	$-
Outstanding purchase commitments (2)		211,499			189,184		21,615		300	400
Transition tax liability (3)		18,732			1,972		5,669		11,091	-
Other long-term obligations (4)		56,151			-		10,776		21,457	23,918
Total	$294,230		$193,563			$41,381	$34,968	$24,318

	Page
Reports of Independent Registered Public Accounting Firm (Ernst & Young LLP)	42
Report of Independent Registered Public Accounting Firm (Deloitte & Touche LLP)	44
Consolidated Balance Sheets	45
Consolidated Statements of Operations	46
Consolidated Statements of Comprehensive Income	47
Consolidated Statements of Stockholders’ Equity	48
Consolidated Statements of Cash Flows	49

										Accumulated
	Common Stock and						Other		Total
	Additional Paid-in Capital		Retained			Comprehensive		Stockholders’
	Shares		Amount			Earnings		Income (Loss)		Equity
Balance as of January 1, 2018		41,614		$376,586			$143,608		$1,813		$522,007
Net income		-			-			105,268			-	105,268
Other comprehensive loss		-			-			-			(7,356)	(7,356)
Dividends and dividend equivalents declared ($1.20 per share)		-			-			(54,527)			-	(54,527)

	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Net cash provided by operating activities	$267,803		$216,303		$141,451
Net cash used in investing activities		(39,177)		(167,112)		(14,740)
Net cash used in financing activities		(71,557)		(48,050)		(34,559)
Effect of change in exchange rates		4,926		(883)		(2,208)
Net increase in cash, cash equivalents and restricted cash	$161,995		$258		$89,944

	Year Ended December 31,
	2020		2019		2018
Net income	$164,375		$108,839		$105,268
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		14,150		(1,706)		(7,082)
Change in unrealized gain (loss) on available-for-sale securities, net of tax of $(325), $(203) and $209, respectively		1,466		1,773		(274)
Other comprehensive income (loss), net of tax		15,616		67		(7,356)
Comprehensive income	$179,991		$108,906		$97,912

	Year Ended December 31,
	2020		2019		2018
Cash flows from operating activities:
Net income	$164,375		$108,839		$105,268
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		19,186		14,867		12,311
Amortization of premium on available-for-sale securities		2,979		729		1,353
(Gain) loss on deferred compensation plan investments		(4,592)		(3,806)		255

	December 31,
	2020		2019
Deferred compensation plan asset components:
Cash surrender value of corporate-owned life insurance policies	$19,222		$16,883
Fair value of mutual funds and money market funds		26,924		21,975
Total	$46,146		$38,858
Deferred compensation plan assets reported in:
Other long-term assets	$46,146		$38,858

	Amortized Cost		Fair Value
Due in less than 1 year	$97,773		$98,036
Due in 1 - 5 years		160,316		162,133
Due in greater than 5 years		3,020		2,861
Total	$261,109		$263,030

	December 31, 2020
	Amortized Cost		Unrealized Gains		Unrealized Losses	Fair Value
Money market funds	$34,335		$-		$-	$34,335
Corporate debt securities		247,591		2,177		(97)	249,671
Commercial paper		2,999		-		-	2,999
U.S. treasuries and government agency bonds		7,499		2		(2)	7,499
Auction-rate securities backed by student-loan notes		3,020		-		(159)	2,861
Total	$295,444		$2,179		$(258)	$297,365

	December 31, 2019
	Amortized Cost		Unrealized Gains		Unrealized Losses	Fair Value
Money market funds	$28,100		$-		$-	$28,100
Corporate debt securities		260,645		383		(78)	260,950
Commercial paper		1,994		-		-	1,994
U.S. treasuries and government agency bonds		19,487		7		(1)	19,493
Auction-rate securities backed by student-loan notes		3,320		-		(182)	3,138
Total	$313,546		$390		$(261)	$313,675

	December 31, 2020
	Less than 12 Months		Greater than 12 Months		Total
	Fair Value		Unrealized Losses		Fair Value	Unrealized Losses	Fair Value		Unrealized Losses
Corporate debt securities	$59,144		$(97)		$-	$-	$59,144		$(97)
U.S. treasuries and government agency bonds		5,998		(2)		-		-		5,998	(2)
Auction-rate securities backed by student-loan notes		-		-		2,861		(159)		2,861	(159)
Total	$65,142		$(99)		$2,861	$(159)	$68,003		$(258)

	December 31, 2020
	Total		Level 1		Level 2	Level 3
Money market funds	$34,335		$34,335		$-	$-
Corporate debt securities		249,671		-		249,671	-
Commercial paper		2,999		-		2,999	-
U.S. treasuries and government agency bonds		7,499		-		7,499	-
Auction-rate securities backed by student-loan notes		2,861		-		-	2,861
Mutual funds and money market funds under deferred compensation plan		26,924		26,924		-	-

Balance at January 1, 2019	$3,241
Change in unrealized gain included in other comprehensive income		147
Sale and settlement at par		(250)
Balance at December 31, 2019		3,138
Change in unrealized gain included in other comprehensive income		23
Sale and settlement at par		(300)
Balance at December 31, 2020	$2,861

	December 31,
	2020 (1)			2019
Time-to-liquidity (in years)	2	-	3	(2.5)	2	-	3
Discount rate	3.5%	-	7.9%	(5.6%)	4.0%	-	8.3%

2021	$1,491
2022		993
2023		405
2024		199
2025		139
Total remaining lease payments		3,227
Less: imputed interest		(128)
Total lease liabilities	$3,099

	Time-Based RSUs		PSUs and MPSUs		MSUs		Total
	Number of Shares		Weighted- Average Grant Date Fair Value Per Share		Number of Shares		Weighted- Average Grant Date Fair Value Per Share		Number of Shares	Weighted- Average Grant Date Fair Value Per Share	Number of Shares	Weighted- Average Grant Date Fair Value Per Share
Outstanding at January 1, 2018		258		$66.30		2,266		$48.59		1,620	$23.57		4,144	$39.91
Granted		133		$114.36		630	(1)	$85.06		600	$68.48		1,363	$80.62
Vested		(136)		$60.23		(717)		$41.08		-	$-		(853)	$44.13
Forfeited		(15)		$82.20		(5)		$63.16		(1)	$68.48		(21)	$76.92
Outstanding at December 31, 2018		240		$95.38		2,174		$61.61		2,219	$35.69		4,633	$50.94
Granted		52		$141.32		512	(1)	$99.88		-	$-		564	$103.68

1.	Successful implementation of full digital solutions for certain power products.
2.	Successful implementation, and adoption by a key customer, of an integrated, software-based field-oriented control with sensors to motor drivers.
3.	Successful implementation of certain advanced power analog processes.
4.	Successful design wins and achievement of a specific level of revenue with a global networking customer.
5.	Achievement of a specific level of revenue with a global electronics manufacturer.
6.	Achievement of a specific level of market share with certain core power products.

Tables in the 10-K of MONOLITHIC POWER SYSTEMS, INC.

Table 1 after “TABLE OF CONTENTS”

Table 2 after “We design and develop our products for the computing and storage, automotive, industrial, communications and consumer markets, with the comp”

Table 3 after “Information regarding our executive officers as of March 1, 2021 is as follows:”

Table 4 after “The following table summarizes our significant properties as of December 31, 2020:”

Table 5 after “The following table summarizes our results of operations:”

Table 6 after “The following table summarizes our revenue by end market:”

Table 7 after “Cost of revenue primarily consists of costs incurred to manufacture, assemble and test our products, as well as warranty costs, inventory-re”

Table 8 after “R&D expenses primarily consist of salary and benefit expenses, bonuses, stock-based compensation and deferred compensation for design and pr”

Table 9 after “SG&A expenses primarily include salary and benefit expenses, bonuses, stock-based compensation and deferred compensation for sales, marketin”

Table 10 after “Liquidity and Capital Resources”

Table 11 after “The following table summarizes our cash flow activities:”

Table 12 after “The following table summarizes our contractual obligations at December 31, 2020:”

Table 13 after “Contents”

Table 14 after “(in thousands, except par value)”

Table 15 after “(in thousands, except per share amounts)”

Table 16 after “(in thousands)”

Table 17 after “(in thousands, except per share amounts)”

Table 18 after “(in thousands)”

Table 19 after “The liabilities for compensation deferred under the plan are recorded at fair value in each reporting period. Changes in the fair value of t”

Table 20 after “The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands):”

Table 21 after “The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands):”

Table 22 after “in thousands):”

Table 23 after “The following tables summarize the unrealized gain and loss positions related to the available-for sale investments (in thousands):”

Table 24 after “The following tables summarize the unrealized gain and loss positions related to the available-for sale investments (in thousands):”

Table 25 after “months (in thousands):”

Table 26 after “months (in thousands):”

Table 27 after “The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Consolidated Balance Sheets to t”

Table 28 after “The following table details the fair value of the financial assets measured on a recurring basis (in thousands):”

Table 29 after “The following table details the fair value of the financial assets measured on a recurring basis (in thousands):”

Table 30 after “assets consist of government-backed student loan auction-rate securities. The following table provides a rollforward of the fair value of th”

Table 31 after “The Company determined the fair value of the auction-rate securities using a discounted cash flow model with the following assumptions:”

Table 32 after “Inventories consist of the following (in thousands):”

Table 33 after “Other current assets consist of the following (in thousands):”

Table 34 after “Property and equipment, net, consist of the following (in thousands):”

Table 35 after “Other long-term assets consist of the following (in thousands):”

Table 36 after “Other accrued liabilities consist of the following (in thousands):”

Table 37 after “Other long-term liabilities consist of the following (in thousands):”

Table 38 after “The purchase price allocation was as follows (in thousands):”

Table 39 after “million, respectively. The following tables summarize certain information related to the leases (in thousands, except percentages):”

Table 40 after “million, respectively. The following tables summarize certain information related to the leases (in thousands, except percentages):”

Table 41 after “million, respectively. The following tables summarize certain information related to the leases (in thousands, except percentages):”

Table 42 after “the maturities of the lease liabilities were as follows (in thousands):”

Table 43 after “future income related to lease payments was as follows (in thousands):”

Table 44 after “The Company recognized stock-based compensation expense as follows (in thousands):”

Table 45 after “A summary of RSU activity is presented in the table below (in thousands, except per-share amounts):”

Table 46 after “operating metrics:”

Table 47 after “The following table summarizes the achievement of the market and performance conditions:”

Table 48 after “The Black-Scholes model was used to value the employee stock purchase rights with the following weighted-average assumptions:”

Table 49 after “The Company has a dividend program approved by the Board of Directors, pursuant to which the Company intends to pay quarterly cash dividends”

Table 50 after “The components of other income, net, are as follows (in thousands):”

Table 51 after “The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):”

Table 52 after “The components of income before income taxes are as follows (in thousands):”

Table 53 after “The components of the income tax expense are as follows (in thousands):”

Table 54 after “The effective tax rate differs from the applicable U.S. statutory federal income tax rate as follows:”

Table 55 after “The components of net deferred tax assets consist of the following (in thousands):”

Table 56 after “A reconciliation of the gross unrecognized tax benefits is as follows (in thousands):”

Table 57 after “The changes in warranty reserves are as follows (in thousands):”

Table 58 after “or more of the Company's total revenue:”

Table 59 after “or more of the Company’s total accounts receivable:”

Table 60 after “The following is a summary of revenue by geographic regions (in thousands):”

Table 61 after “The following is a summary of revenue by major product families (in thousands):”

Table 62 after “The following is a summary of long-lived assets by geographic regions (in thousands):”

Table 63 after “The following table summarizes the changes in accumulated other comprehensive income (loss) (in thousands):”

Table 64 after “(1) All financial statements”

Table 65 after “(3) Exhibits”

Table 66 after “Table of Contents”

Table 67 after “Table of Contents”

Table 68 after “Table of Contents”

Tranche	Market Conditions	Performance Conditions
One	All stock price targets were achieved as of September 30, 2017.	Not required.
Two	All stock price targets were achieved as of December 31, 2017.	Operating metric #1 was achieved as of December 31, 2018.
Three	All stock price targets were achieved as of September 30, 2018.	Operating metric #2 was achieved as of December 31, 2018.
Four	All stock price targets were achieved as of March 31, 2019.	Operating metric #3 was achieved as of September 30, 2019.

Balance as of January 1, 2018	$16,272
Increase for tax position of prior year		1,474
Increase for tax position of current year		2,957
Decrease due to lapse of statute of limitation		(212)
Balance as of December 31, 2018		20,491
Increase for tax position of prior year		1,589
Increase for tax position of current year		4,663
Decrease due to settlement with tax authorities		(560)

	Year Ended December 31,
Customer	2020		2019		2018
Distributor A		24%		23%		22%
Distributor B		11%		*		10%

	Year Ended December 31,
Country or Region	2020		2019		2018
China	$516,519		$382,740		$334,726
Taiwan		109,256		73,801		75,307
Europe		56,329		49,467		49,484
South Korea		64,093		43,900		41,238
Southeast Asia		42,403		32,031		36,495
Japan		35,461		27,812		26,853

	Year Ended December 31,
Product Family	2020		2019		2018
DC to DC	$800,478		$589,651		$537,512
Lighting Control		43,974		38,270		44,870
Total	$844,452		$627,921		$582,382

	December 31,
Country	2020		2019		2018
China	$151,752		$113,888		$93,096
United States		101,768		94,671		39,054
Taiwan		18,797		17,652		16,972
Other		9,211		2,104		879
Total	$281,528		$228,315		$150,001

	Unrealized Gains (Losses) on Available-for-Sale Securities		Foreign Currency Translation Adjustments		Total
Balance as of January 1, 2019	$(1,638)		$(3,905)		$(5,543)
Other comprehensive income (loss) before reclassifications		1,977		(1,706)		271
Amounts reclassified from accumulated other comprehensive loss		(1)		-		(1)
Tax effect		(203)		-		(203)
Net current period other comprehensive income (loss)		1,773		(1,706)		67
Balance as of December 31, 2019		135		(5,611)		(5,476)
Other comprehensive income before reclassifications		2,878		14,150		17,028

Exhibit Number	Description
3.1 (1)	Amended and Restated Certificate of Incorporation.
3.2 (2)	Amended and Restated Bylaws.
4.1 (3)	Description of the Registrant's Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.
10.1+ (4)	Registrant’s 2004 Employee Stock Purchase Plan and form of subscription agreement.
10.2+ (5)	Form of Directors’ and Officers’ Indemnification Agreement.
10.3+ (6)	Employment Agreement with Michael Hsing, and Amendment thereof.
10.4+ (7)	Employment Agreement with Maurice Sciammas, and Amendment thereof.

10.13+(16)	Employment Agreement with Bernie Blegen.
10.14+(17)	Employment Agreement with Saria Tseng and Amendment thereof.
10.15+(18)	Monolithic Power Systems, Inc. Amended and Restated 2014 Equity Incentive Plan.
10.16+(19)	Forms of Grant Agreements under the Monolithic Power Systems, Inc. Amended and Restated 2014 Equity Incentive Plan.
21.1	Subsidiaries of Monolithic Power Systems, Inc.
23.1	Consent of Independent Registered Public Accounting Firm (Ernst & Young LLP).
23.2	Consent of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).
24.1	Power of Attorney (included on Signature page to this Form 10-K).

+	Management contract or compensatory plan or arrangement.
*	This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
(1)	Incorporated by reference to Exhibit 3.2 of the Registrant’s Registration Statement on Form S-1/A (Registration No. 333-117327), filed with the Securities and Exchange Commission on November 15, 2004.
(2)	Incorporated by reference to Exhibit 3.4 of the Registrant’s Registration Statement on Form S-1/A (Registration No. 333-117327), filed with the Securities and Exchange Commission on November 15, 2004.
(3)	Incorporated by reference to Exhibit 4.1 of the Registrant’s annual report on Form 10-K (File No. 000-51026), filed with the Securities and Exchange Commission on February 28, 2020.
(4)	Incorporated by reference to Exhibit 10.3 of the Registrant’s Registration Statement on Form S-1/A (Registration No. 333-117327), filed with the Securities and Exchange Commission on November 15, 2004.