← Filings of MPWR
Tables in the 10-Q of MONOLITHIC POWER SYSTEMS, INC.
56 tables with numbers, filed Nov 6, 2024. Each one downloads as a CSV for Excel or
Google Sheets, 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. FINANCIAL INFORMATION | 4 | |
| Item 1. | Financial Statements (unaudited) | 4 |
| Condensed Consolidated Balance Sheets | 4 |
| Condensed Consolidated Statements of Operations | 5 |
| Condensed Consolidated Statements of Comprehensive Income | 6 |
| Condensed Consolidated Statements of Stockholders’ Equity | 7 |
| Condensed Consolidated Statements of Cash Flows | 8 |
First 8 of 20 rows. The CSV has all of them.
| September 30, | | December 31, | |
| 2024 | | 2023 | |
| ASSETS | | | | |
| Current assets: | | | | |
| Cash and cash equivalents | $700,347 | | $527,843 | |
| Short-term investments | | 762,003 | | 580,633 |
| Accounts receivable, net | | 164,704 | | 179,858 |
| Inventories | | 424,942 | | 383,702 |
First 8 of 32 rows. The CSV has all of them.
| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Revenue | $620,119 | | $474,867 | | $1,585,435 | $1,367,060 | |
| Cost of revenue | | 276,676 | | 211,326 | | 708,973 | 597,064 |
| Gross profit | | 343,443 | | 263,541 | | 876,462 | 769,996 |
| Operating expenses: | | | | | | | |
| Research and development | | 85,051 | | 64,787 | | 238,986 | 192,184 |
| Selling, general and administrative | | 94,364 | | 63,188 | | 261,425 | 205,645 |
First 8 of 20 rows. The CSV has all of them.
| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Net income | $144,430 | | $121,163 | | $337,337 | $330,469 | |
| Other comprehensive income (loss), net of tax: | | | | | | | |
| Foreign currency translation adjustments | | 22,321 | | (4,838) | | 4,186 | (28,099) |
| Changes in unrealized gains and losses on available-for-sale securities, net of tax of $37, $156, $(161) and $625, respectively | | 977 | | 1,132 | | 1,680 | 4,073 |
| Other comprehensive income (loss), net of tax: | | 23,298 | | (3,706) | | 5,866 | (24,026) |
| Comprehensive income | $167,728 | | $117,457 | | $343,203 | $306,443 | |
| | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | | Other | | Total | | | |
| Additional Paid-in Capital | | Retained | | | Comprehensive | | Stockholders’ | | | | |
| Three Months Ended September 30, 2024 | Shares | | Amount | | | Earnings | | Loss | | Equity | | |
| Balance as of July 1, 2024 | | 48,698 | | $1,224,144 | | | $1,016,208 | | $(44,494) | | $2,195,858 | |
| Net income | | - | | | - | | | 144,430 | | | - | 144,430 |
| Other comprehensive income | | - | | | - | | | - | | | 23,298 | 23,298 |
| Dividends and dividend equivalents declared ($1.25 per share) | | - | | | - | | | (61,879) | | | - | (61,879) |
First 8 of 13 rows. The CSV has all of them.
| | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | | Other | | Total | | | |
| Additional Paid-in Capital | | Retained | | | Comprehensive | | Stockholders’ | | | | |
| Three Months Ended September 30, 2023 | Shares | | Amount | | | Earnings | | Loss | | Equity | | |
| Balance as of July 1, 2023 | | 47,611 | | $1,055,130 | | | $827,356 | | $(43,397) | | $1,839,089 | |
| Net income | | - | | | - | | | 121,163 | | | - | 121,163 |
| Other comprehensive loss | | - | | | - | | | - | | | (3,706) | (3,706) |
| Dividends and dividend equivalents declared ($1.00 per share) | | - | | | - | | | (49,121) | | | - | (49,121) |
First 8 of 12 rows. The CSV has all of them.
| | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | | Other | | Total | | | |
| Additional Paid-in Capital | | Retained | | | Comprehensive | | Stockholders’ | | | | |
| Nine Months Ended September 30, 2024 | Shares | | Amount | | | Earnings | | Loss | | Equity | | |
| Balance as of January 1, 2024 | | 48,028 | | $1,129,937 | | | $947,064 | | $(27,062) | | $2,049,939 | |
| Net income | | - | | | - | | | 337,337 | | | - | 337,337 |
| Other comprehensive income | | - | | | - | | | - | | | 5,866 | 5,866 |
| Dividends and dividend equivalents declared ($3.75 per share) | | - | | | - | | | (185,642) | | | - | (185,642) |
First 8 of 13 rows. The CSV has all of them.
| | | | | | | | | | Accumulated | | |
| Common Stock and | | | | | | Other | | Total | | | |
| Additional Paid-in Capital | | Retained | | | Comprehensive | | Stockholders’ | | | | |
| Nine Months Ended September 30, 2023 | Shares | | Amount | | | Earnings | | Loss | | Equity | | |
| Balance as of January 1, 2023 | | 47,107 | | $975,276 | | | $716,403 | | $(23,077) | | $1,668,602 | |
| Net income | | - | | | - | | | 330,469 | | | - | 330,469 |
| Other comprehensive loss | | - | | | - | | | - | | | (24,026) | (24,026) |
| Dividends and dividend equivalents declared ($3.00 per share) | | - | | | - | | | (147,474) | | | - | (147,474) |
First 8 of 12 rows. The CSV has all of them.
| Nine Months Ended September 30, | | | |
| 2024 | | 2023 | |
| Cash flows from operating activities: | | | | |
| Net income | $337,337 | | $330,469 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | |
| Depreciation and amortization | | 26,387 | | 29,940 |
| Amortization of discount on available-for-sale securities | | (16,684) | | (1,591) |
| Gain on deferred compensation plan investments | | (9,180) | | (3,411) |
First 8 of 44 rows. The CSV has all of them.
Table 10 after “The Company recognized stock-based compensation expenses as follows (in thousands):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Cost of revenue | $1,576 | | $1,020 | | $4,585 | $3,317 | |
| Research and development | | 11,331 | | 8,479 | | 33,460 | 26,406 |
| Selling, general and administrative (“SG&A”) | | 38,491 | | 24,103 | | 111,585 | 78,880 |
| Total stock-based compensation expense | $51,398 | | $33,602 | | $149,630 | $108,603 | |
| Tax benefit related to stock-based compensation (1) | $766 | | $667 | | $2,272 | $1,753 | |
Table 11 after “A summary of RSU activity is presented in the table below (in thousands, except per-share amounts):”
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| Time-Based RSUs | | PSUs and MPSUs | | MSUs | | Total | | | | | | | | |
| | | | Weighted- | | | | | Weighted- | | | Weighted- | | | Weighted- |
| | | | Average | | | | | Average | | | Average | | | Average |
| | | | Grant Date | | | | | Grant Date | | | Grant Date | | | Grant Date |
| Number of | | Fair Value | | Number of | | | Fair Value | | Number of | Fair Value | Number of | Fair Value | | |
| Shares | | Per Share | | Shares | | | Per Share | | Shares | Per Share | Shares | Per Share | | |
| Outstanding at January 1, 2024 | | 102 | | $411.11 | | 482 | | | $397.77 | | 1,502 | $152.89 | | 2,086 | $222.04 |
| Granted | | 31 | | $643.98 | | 344 | | (1) | $593.33 | | - | $- | | 375 | $597.56 |
First 8 of 11 rows. The CSV has all of them.
Table 12 after “million, which will be recognized through the first quarter of 2025. The Black-Scholes model was used to value the employee stock purchase r”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | |
| 2024 | | 2023 | 2024 | | 2023 | | |
| Expected term (in years) | | 0.5 | | | 0.5 | | 0.5 | 0.5 |
| Expected volatility | | 47.8% | | | 50.8% | | 45.1% | 53.3% |
| Risk-free interest rate | | 5.0% | | | 5.5% | | 5.2% | 5.3% |
| Dividend yield | | 0.6% | | | 0.8% | | 0.6% | 0.8% |
Table 13 after “The purchase price allocation for Axign is as follows (in thousands):”
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| Inventory | $720 | |
| Other tangible assets acquired, net of liabilities assumed | | 1,487 |
| Intangible assets: | | |
| Developed technology | | 9,184 |
| IPR&D | | 2,147 |
| Total identifiable net assets acquired | | 13,538 |
| Goodwill | | 19,860 |
| Total net assets acquired | $33,398 | |
Table 14 after “Inventories consist of the following (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Raw materials | $70,567 | | $118,917 | |
| Work in process | | 182,312 | | 112,750 |
| Finished goods | | 172,063 | | 152,035 |
| Total | $424,942 | | $383,702 | |
Table 15 after “Other current assets consist of the following (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Prepaid wafer purchases (1) | $60,000 | | $- | |
| Prepaid expenses | | 31,379 | | 28,964 |
| RSU tax withholding proceeds receivable | | 54 | | 20,141 |
| Other receivables (1) | | - | | 50,000 |
| Restricted cash (2) | | - | | 33,204 |
| Other | | 17,021 | | 15,154 |
First 8 of 9 rows. The CSV has all of them.
Table 16 after “Other long-term assets consist of the following (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Deferred compensation plan assets | $89,324 | | $78,381 | |
| Prepaid wafer purchases (1) | | 60,000 | | 120,000 |
| Operating lease right-of-use (“ROU”) and related assets (2) | | 35,026 | | 8,355 |
| Other | | 6,673 | | 4,541 |
| Total | $191,023 | | $211,277 | |
Table 17 after “Other accrued liabilities consist of the following (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Dividends and dividend equivalents | $62,564 | | $57,697 | |
| Stock rotation and sales returns | | 24,033 | | 18,843 |
| Warranty | | 14,344 | | 16,906 |
| Customer prepayments | | 6,315 | | 2,792 |
| Income tax payable | | 11,407 | | 8,063 |
| Other | | 20,768 | | 11,490 |
First 8 of 9 rows. The CSV has all of them.
Table 18 after “Other long-term liabilities consist of the following (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Deferred compensation plan liabilities | $84,128 | | $80,903 | |
| Operating lease liabilities | | 13,482 | | 5,565 |
| Dividend equivalents | | 4,196 | | 2,187 |
| Total | $101,806 | | $88,655 | |
Table 19 after “The following table summarizes the balances of operating lease ROU assets and liabilities (in thousands):”
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| | September 30, | December 31, |
| Financial Statement Line Item | 2024 | 2023 |
| Operating lease ROU assets | Other long-term assets | $17,522 | $8,355 |
| Operating lease liabilities | Other accrued liabilities | $2,814 | $2,303 |
| Other long-term liabilities | $13,482 | $5,565 |
Table 20 after “The following tables summarize certain information related to the leases (in thousands, except percentages and years):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Lease costs: | | | | | | | |
| Operating lease costs | $948 | | $852 | | $2,859 | $2,327 | |
| Other | | 822 | | 480 | | 2,020 | 1,572 |
| Total lease costs | $1,770 | | $1,332 | | $4,879 | $3,899 | |
Table 21 after “The following tables summarize certain information related to the leases (in thousands, except percentages and years):”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | |
| 2024 | 2023 | 2024 | 2023 |
| Cash paid for amounts included in the measurement of lease liabilities: | | | | |
| Operating cash flows for operating leases | $1,704 | $629 | $3,404 | $2,267 |
| ROU assets obtained in exchange for new operating lease liabilities | $2,339 | $2,086 | $11,610 | $6,921 |
Table 22 after “The following tables summarize certain information related to the leases (in thousands, except percentages and years):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Weighted-average remaining lease term (in years) | | 11.3 | | 4.7 |
| Weighted-average discount rate | | 5.4% | | 4.3% |
Table 23 after “As of September 30, 2024, the maturities of the lease liabilities were as follows (in thousands):”
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| 2024 (remaining three months) | $958 | |
| 2025 | | 3,326 |
| 2026 | | 2,787 |
| 2027 | | 2,298 |
| 2028 | | 1,550 |
| Thereafter | | 12,639 |
| Total remaining lease payments | | 23,558 |
| Less: imputed interest | | (7,262) |
First 8 of 9 rows. The CSV has all of them.
Table 24 after “million, respectively. As of September 30, 2024, future income related to lease payments was as follows (in thousands):”
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| 2024 (remaining three months) | $264 | |
| 2025 | | 583 |
| 2026 | | 403 |
| 2027 | | 373 |
| 2028 | | 384 |
| Thereafter | | 129 |
| Total | $2,136 | |
Table 25 after “The following table sets forth the computation of basic and diluted net income per share (in thousands, except per-share amounts):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Numerator: | | | | | | | |
| Net income | $144,430 | | $121,163 | | $337,337 | $330,469 | |
| Denominator: | | | | | | | |
| Weighted-average outstanding shares — basic | | 48,757 | | 47,780 | | 48,692 | 47,501 |
| Effect of dilutive securities | | 207 | | 1,012 | | 253 | 1,233 |
| Weighted-average outstanding shares — diluted | | 48,964 | | 48,792 | | 48,945 | 48,734 |
First 8 of 11 rows. The CSV has all of them.
Table 26 after “The Company sells its products primarily to third-party distributors and value-added resellers, and directly to OEMs, ODMs and EMS providers”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | |
| Customer | 2024 | | 2023 | 2024 | | 2023 | | |
| Distributor A | | 24% | | | 27% | | 33% | 23% |
| Distributor B | | 25% | | | 21% | | 19% | 21% |
| Distributor C | | * | | | 11% | | * | 10% |
Table 27 after “The following table summarizes those customers with accounts receivable equal to 10% or more of the Company’s total accounts receivable:”
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| September 30, | | December 31, | |
| Customer | 2024 | | 2023 | |
| Distributor A | | 25% | | 42% |
| Distributor B | | 25% | | 13% |
| Distributor C | | 10% | | 10% |
Table 28 after “The following is a summary of revenue by geographic region (in thousands):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| Country or Region | 2024 | | 2023 | | 2024 | 2023 | |
| China | $310,472 | | $234,924 | | $856,026 | $676,148 | |
| Taiwan | | 179,747 | | 103,537 | | 407,593 | 222,582 |
| South Korea | | 51,815 | | 41,698 | | 126,865 | 128,047 |
| Europe | | 25,145 | | 29,827 | | 61,992 | 109,278 |
| United States | | 13,797 | | 23,565 | | 42,544 | 82,153 |
| Southeast Asia | | 22,772 | | 22,538 | | 47,363 | 70,678 |
First 8 of 11 rows. The CSV has all of them.
Table 29 after “The following is a summary of revenue by product family (in thousands):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| Product Family | 2024 | | 2023 | | 2024 | 2023 | |
| Direct Current (“DC”) to DC | $616,105 | | $447,394 | | $1,563,472 | $1,290,750 | |
| Lighting Control | | 4,014 | | 27,473 | | 21,963 | 76,310 |
| Total | $620,119 | | $474,867 | | $1,585,435 | $1,367,060 | |
Table 30 after “The following is a summary of long-lived assets by geographic region (in thousands):”
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| September 30, | | December 31, | |
| Country | 2024 | | 2023 | |
| China | $237,113 | | $184,685 | |
| United States | | 125,952 | | 119,430 |
| Taiwan | | 39,929 | | 39,419 |
| Other | | 33,271 | | 25,418 |
| Total | $436,265 | | $368,952 | |
Table 31 after “The changes in warranty reserves are as follows (in thousands):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Balance at beginning of period | $14,702 | | $17,654 | | $16,906 | $24,082 | |
| Warranties issued | | 570 | | 1,858 | | 2,895 | 2,800 |
| Repairs, replacement and refund | | (849) | | (367) | | (4,979) | (2,619) |
| Changes in liability for pre-existing warranties | | (79) | | (2,102) | | (478) | (7,220) |
| Balance at end of period | $14,344 | | $17,043 | | $14,344 | $17,043 | |
Table 32 after “Total estimated future unconditional purchase commitments to all suppliers and other parties, net of the $120.0 million prepayment, as of Se”
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| 2024 (remaining three months) | $36,496 | |
| 2025 | | 518,513 |
| 2026 | | 1,613 |
| 2027 | | 30,248 |
| Total | $586,870 | |
Table 33 after “The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Cash | $413,010 | | $392,329 | |
| Money market funds | | 282,883 | | 135,514 |
| Certificates of deposit | | 171,065 | | 127,123 |
| Corporate debt securities | | 14,236 | | 95,101 |
| U.S. treasuries and government agency bonds | | 581,156 | | 358,409 |
| Auction-rate securities backed by student-loan notes | | 173 | | 567 |
First 8 of 9 rows. The CSV has all of them.
Table 34 after “The following is a summary of the Company’s cash, cash equivalents and debt investments (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Reported as: | | | | |
| Cash and cash equivalents | $700,347 | | $527,843 | |
| Short-term investments | | 762,003 | | 580,633 |
| Investment within other long-term assets | | 173 | | 567 |
| Total | $1,462,523 | | $1,109,043 | |
Table 35 after “The following table summarizes the contractual maturities of the short-term and long-term available-for-sale investments as of September 30,”
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| Amortized Cost | | Fair Value | |
| Due in less than 1 year | $765,440 | | $765,683 | |
| Due in 1 - 5 years | | 805 | | 774 |
| Due in greater than 5 years | | 175 | | 173 |
| Total | $766,420 | | $766,630 | |
Table 36 after “The following tables summarize the unrealized gain and loss positions related to the available-for-sale investments (in thousands):”
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| September 30, 2024 | | | | | | |
| Amortized Cost | | Unrealized Gains | | Unrealized Losses | Fair Value | |
| Money market funds | $282,883 | | $- | | $- | $282,883 | |
| Certificates of deposit | | 171,065 | | - | | - | 171,065 |
| Corporate debt securities | | 14,522 | | - | | (286) | 14,236 |
| U.S. treasuries and government agency bonds | | 580,658 | | 515 | | (17) | 581,156 |
| Auction-rate securities backed by student-loan notes | | 175 | | - | | (2) | 173 |
| Total | $1,049,303 | | $515 | | $(305) | $1,049,513 | |
Table 37 after “The following tables summarize the unrealized gain and loss positions related to the available-for-sale investments (in thousands):”
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| December 31, 2023 | | | | | | |
| Amortized Cost | | Unrealized Gains | | Unrealized Losses | Fair Value | |
| Money market funds | $135,514 | | $- | | $- | $135,514 | |
| Certificates of deposit | | 127,123 | | - | | - | 127,123 |
| Corporate debt securities | | 96,636 | | 4 | | (1,539) | 95,101 |
| U.S. treasuries and government agency bonds | | 358,177 | | 327 | | (95) | 358,409 |
| Auction-rate securities backed by student-loan notes | | 574 | | - | | (7) | 567 |
| Total | $718,024 | | $331 | | $(1,641) | $716,714 | |
Table 38 after “The following tables present information about the available-for-sale investments that had been in a continuous unrealized loss position for”
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| September 30, 2024 | | | | | | | | | | |
| Less than 12 Months | | Greater than 12 Months | | Total | | | | | | |
| Fair Value | | Unrealized Losses | | Fair Value | Unrealized Losses | Fair Value | | Unrealized Losses | | |
| Corporate debt securities | $- | | $- | | $14,236 | $(286) | $14,236 | | $(286) | | |
| U.S. treasuries and government agency bonds | | 45,331 | | (15) | | 4,883 | | (2) | | 50,214 | (17) |
| Auction-rate securities backed by student-loan notes | | - | | - | | 173 | | (2) | | 173 | (2) |
| Total | $45,331 | | $(15) | | $19,292 | $(290) | $64,623 | | $(305) | | |
Table 39 after “The following tables present information about the available-for-sale investments that had been in a continuous unrealized loss position for”
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| December 31, 2023 | | | | | | | | | | |
| Less than 12 Months | | Greater than 12 Months | | Total | | | | | | |
| Fair Value | | Unrealized Losses | | Fair Value | Unrealized Losses | Fair Value | | Unrealized Losses | | |
| Corporate debt securities | $20,792 | | $(19) | | $70,806 | $(1,520) | $91,598 | | $(1,539) | | |
| U.S. treasuries and government agency bonds | | 97,599 | | (95) | | - | | - | | 97,599 | (95) |
| Auction-rate securities backed by student-loan notes | | - | | - | | 567 | | (7) | | 567 | (7) |
| Total | $118,391 | | $(114) | | $71,373 | $(1,527) | $189,764 | | $(1,641) | | |
Table 40 after “The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on the Condensed Consolidated Balance S”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Cash and cash equivalents | $700,347 | | $527,843 | |
| Restricted cash included in other current assets (1) | | - | | 33,204 |
| Restricted cash included in other long-term assets (2) | | 134 | | 134 |
| Total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Statements of Cash Flows | $700,481 | | $561,181 | |
Table 41 after “The following tables summarize the fair value of the Company’s financial assets measured on a recurring basis (in thousands):”
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| September 30, 2024 | | | | | | |
| Total | | Level 1 | | Level 2 | Level 3 | |
| Money market funds | $282,883 | | $282,883 | | $- | $- | |
| Certificates of deposit | | 171,065 | | - | | 171,065 | - |
| Corporate debt securities | | 14,236 | | - | | 14,236 | - |
| U.S. treasuries and government agency bonds | | 581,156 | | - | | 581,156 | - |
| Auction-rate securities backed by student-loan notes | | 173 | | - | | - | 173 |
| Mutual funds and money market funds under deferred compensation plan | | 61,637 | | 61,637 | | - | - |
First 8 of 9 rows. The CSV has all of them.
Table 42 after “The following tables summarize the fair value of the Company’s financial assets measured on a recurring basis (in thousands):”
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| December 31, 2023 | | | | | | |
| Total | | Level 1 | | Level 2 | Level 3 | |
| Money market funds | $135,514 | | $135,514 | | $- | $- | |
| Certificates of deposit | | 127,123 | | - | | 127,123 | - |
| Corporate debt securities | | 95,101 | | - | | 95,101 | - |
| U.S. treasuries and government agency bonds | | 358,409 | | - | | 358,409 | - |
| Auction-rate securities backed by student-loan notes | | 567 | | - | | - | 567 |
| Mutual funds and money market funds under deferred compensation plan | | 54,836 | | 54,836 | | - | - |
First 8 of 9 rows. The CSV has all of them.
Table 43 after “The following table summarizes the deferred compensation plan balances on the Condensed Consolidated Balance Sheets (in thousands):”
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| September 30, | | December 31, | |
| 2024 | | 2023 | |
| Deferred compensation plan asset components: | | | | |
| Cash surrender value of corporate-owned life insurance policies | $27,687 | | $23,545 | |
| Fair value of mutual funds and money market funds | | 61,637 | | 54,836 |
| Total | $89,324 | | $78,381 | |
| Deferred compensation plan assets reported in: | | | | |
| Other long-term assets | $89,324 | | $78,381 | |
First 8 of 12 rows. The CSV has all of them.
Table 44 after “The components of other income, net, are as follows (in thousands):”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | |
| 2024 | | 2023 | | 2024 | 2023 | |
| Interest income | $6,805 | | $6,071 | | $20,349 | $16,844 | |
| Amortization of discount on available-for-sale securities | | 6,644 | | 1,647 | | 16,684 | 1,591 |
| Gain (loss) on deferred compensation plan investments | | 3,894 | | (1,611) | | 9,180 | 3,411 |
| Charitable contributions | | (6,400) | | (3,850) | | (18,550) | (9,650) |
| Other | | (665) | | 32 | | (333) | 1,933 |
| Total | $10,278 | | $2,289 | | $27,330 | $14,129 | |
Table 45 after “The following table summarizes the changes in accumulated other comprehensive loss (in thousands):”
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| Unrealized | | | | | |
| Losses on | | Foreign Currency | | | |
| Available-for-Sale | | Translation | | | |
| Securities | | Adjustments | | Total | |
| Balance as of January 1, 2024 | $(2,184) | | $(24,878) | | $(27,062) | |
| Other comprehensive income (loss) before reclassifications | | 87 | | (13,822) | | (13,735) |
| Tax effect | | 248 | | - | | 248 |
| Net current period other comprehensive income (loss) | | 335 | | (13,822) | | (13,487) |
First 8 of 18 rows. The CSV has all of them.
Table 46 after “The Company has a dividend program approved by its Board of Directors, pursuant to which the Company intends to pay quarterly cash dividends”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | |
| 2024 | 2023 | 2024 | 2023 |
| Dividend declared per share | $1.25 | $1.00 | $3.75 | $3.00 |
| Total amount | $60,974 | $47,832 | $182,680 | $142,692 |
Table 47 after “The table below sets forth the data on the Condensed Consolidated Statements of Operations as a percentage of revenue:”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | |
| 2024 | | 2023 | 2024 | | 2023 | | | | | | | | | | |
| (In thousands, except percentages) | | | | | | | | | | | | | | | |
| Revenue | $620,119 | | | 100.0% | | | $474,867 | | 100.0% | | $1,585,435 | | 100.0% | $1,367,060 | 100.0% | |
| Cost of revenue | | 276,676 | | | 44.6 | | | 211,326 | | 44.5 | | 708,973 | | 44.7 | 597,064 | 43.7 |
| Gross profit | | 343,443 | | | 55.4 | | | 263,541 | | 55.5 | | 876,462 | | 55.3 | 769,996 | 56.3 |
| Operating expenses: | | | | | | | | | | | | | | | | |
| Research and development | | 85,051 | | | 13.7 | | | 64,787 | | 13.6 | | 238,986 | | 15.1 | 192,184 | 14.1 |
First 8 of 15 rows. The CSV has all of them.
Table 48 after “The following table summarizes our revenue by end market:”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | |
| End Market | 2024 | | | % of Revenue | | 2023 | | % of Revenue | | 2024 | | % of Revenue | | 2023 | | % of Revenue | | | |
| (In thousands, except percentages) | | | | | | | | | | | | | | | | | | |
| Enterprise Data | $184,459 | | | | 29.7% | | $98,938 | | | | 20.8% | | $521,397 | | | 32.9% | $194,083 | 14.2% | |
| Storage and Computing | | 143,993 | | | | 23.2 | | | 129,462 | | | 27.3 | | | 365,069 | | 23.0 | 373,827 | 27.3 |
| Automotive | | 111,344 | | | | 18.0 | | | 95,171 | | | 20.0 | | | 285,629 | | 18.0 | 304,907 | 22.3 |
| Communications | | 71,884 | | | | 11.6 | | | 46,786 | | | 9.9 | | | 162,095 | | 10.2 | 163,985 | 12.0 |
| Consumer | | 64,401 | | | | 10.4 | | | 62,369 | | | 13.1 | | | 144,704 | | 9.1 | 190,919 | 14.0 |
First 8 of 10 rows. The CSV has all of them.
Table 49 after “Cost of revenue primarily consists of costs incurred to manufacture, assemble and test our products, as well as warranty costs, inventory-re”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2024 | | 2023 | | 2024 | | 2023 | | |
| (In thousands, except percentages) | | | | | | | | |
| Cost of revenue | $276,676 | | | $211,326 | | | $708,973 | $597,064 | |
| As a percentage of revenue | | 44.6% | | | | 44.5% | | 44.7% | 43.7% |
| Gross profit | $343,443 | | | $263,541 | | | $876,462 | $769,996 | |
| Gross margin | | 55.4% | | | | 55.5% | | 55.3% | 56.3% |
Table 50 after “R&D expenses primarily consist of cash compensation and benefits, stock-based compensation and deferred compensation for design and product ”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2024 | | 2023 | | 2024 | | 2023 | | |
| (In thousands, except percentages) | | | | | | | | |
| R&D expenses | $85,051 | | | $64,787 | | | $238,986 | $192,184 | |
| As a percentage of revenue | | 13.7% | | | | 13.6% | | 15.1% | 14.1% |
Table 51 after “SG&A expenses primarily include cash compensation and benefits, stock-based compensation and deferred compensation for sales, marketing and ”
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| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | |
| 2024 | | 2023 | | 2024 | | 2023 | | |
| (In thousands, except percentages) | | | | | | | | |
| SG&A expenses | $94,364 | | | $63,188 | | | $261,425 | $205,645 | |
| As a percentage of revenue | | 15.2% | | | | 13.3% | | 16.5% | 15.0% |
Table 52 after “Liquidity and Capital Resources”
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| September 30, | | December 31, | | |
| 2024 | | 2023 | | |
| (In thousands, except percentages) | | | | |
| Cash and cash equivalents | $700,347 | | | $527,843 | |
| Short-term investments | | 762,003 | | | 580,633 |
| Total cash, cash equivalents and short-term investments | $1,462,350 | | | $1,108,476 | |
| Percentage of total assets | | 51.2% | | | 45.5% |
| Total current assets | $2,160,450 | | | $1,819,499 | |
First 8 of 10 rows. The CSV has all of them.
Table 53 after “The following table summarizes our cash flow activities:”
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| Nine Months Ended September 30, | | | |
| 2024 | | 2023 | |
| (In thousands) | | | |
| Net cash provided by operating activities | $620,729 | | $484,900 | |
| Net cash used in investing activities | | (296,128) | | (212,695) |
| Net cash used in financing activities | | (186,853) | | (129,311) |
| Effect of change in exchange rates | | 1,552 | | (10,323) |
| Net increase in cash, cash equivalents and restricted cash | $139,300 | | $132,571 | |
Table 54 after “The following table represents details of our stock repurchase transactions during the three months ended September 30, 2024:”
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| Period | Total Number of Shares Purchased | | Average Price Paid per Share | | Total Number of Shares Purchased as Part of Publicly Announced Program | | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program | |
| (In thousands, except per share amounts) | | | | | | | |
| July 1, 2024 – July 31, 2024 | | 2 | | $837.82 | | 2 | | $625,790 |
| August 1, 2024 – August 31, 2024 | | 2 | | $872.16 | | 2 | | $623,871 |
| September 1, 2024 – September 30, 2024 | | 2 | | $885.99 | | 2 | | $622,100 |
| Total | | 6 | | $864.68 | | 6 | | |
Table 55 after “The following table summarizes the adoption of trading plans intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) during”
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| Name and Title | Adoption Date | Plan Duration | Intended Sale Amount (in shares) |
| Victor K. Lee, Director | August 21, 2024 | Through August 21, 2025 | Up to 1,000 |
| Maurice Sciammas, Executive Vice President of Worldwide Sales and Marketing* | August 22, 2024 | Through August 29, 2025 | Up to 19,000 |
| Michael Hsing, President, Chief Executive Officer and Director | August 30, 2024 | Through December 31, 2025 | Up to 133,082 |
| Saria Tseng, Executive Vice President, Strategic Corporate Development, General Counsel and Corporate Secretary | August 30, 2024 | Through December 31, 2025 | Up to 33,963 |
| Exhibit No. | Description |
| 31.1 | Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 31.2 | Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 32.1* | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
First 8 of 11 rows. The CSV has all of them.