Financial Analysis

Note 13 Commitments and Contingencies Environmental Matters The Company is subject to various federal, state, local, and foreign laws and regulations governing environmental matters, including the use, discharge, and disposal of hazardous materials. The Companys manufacturing facilities are believed to be in substantial compliance with current laws and regulations. Complying with current laws and regulations has not had a material adverse effect on the Companys financial condition. The Company has engaged environmental consultants and attorneys to assist management in evaluating potential liabilities related to environmental matters. Management assesses the input from these consultants along with other information known to the Company in its effort to continually monitor these potential liabilities. Management assesses its environmental exposure on a site-by-site basis, including those sites where the Company has been named as a potentially responsible party. Such assessments include the Companys share of remediation costs, information known to the Company concerning the size of the hazardous waste sites, their years of operation, and the number of past users and their financial viability. As of December 31, 2025, the Company has accrued environmental liabilities of $14,468, of which $5,626 is included in other accrued liabilities on the accompanying consolidated balance sheet, and $8,842 is included in other noncurrent liabilities on the accompanying consolidated balance she …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Note 6 Long-Term Debt Long-term debt consists of the following: December 31, 2025 December 31, 2024 Credit Facility $ 219,000 $ 136,000 Convertible senior notes, due 2025 - 41,911 Convertible senior notes, due 2030 750,000 750,000 Deferred financing costs (18,107 ) (22,892 ) 950,893 905,019 Less current portion - - $ 950,893 $ 905,019 Credit Facility The Company maintains a credit agreement with a consortium of banks led by JPMorgan Chase Bank, N.A., as administrative agent, and the lenders (the ""Credit Facility""). In May 2023 , the Company entered into an Amendment and Restatement Agreement, which provides an aggregate commitment of $ 750,000 of revolving loans available until May 8, 2028 . The Credit Facility also provides for the ability of Vishay to request up to $ 300,000 of incremental facilities, subject to the satisfaction of certain conditions, which could take the form of additional revolving commitments, incremental term loan A or term loan B facilities, or incremental equivalent debt. U.S. Dollar borrowings under the Credit Facility bear interest at Secured Overnight Financing Rate (""SOFR"") plus a credit spread and an interest margin. The Credit Facility also allows for borrowings in euro, British sterling, and Japanese yen, subject to a $300,000 limit. Borrowings in foreign currency bear interest at a local reference rate plus an interest margin. The applicable interest margin is based on the Company's total leverage ratio. Based on the Company's current tot …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

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 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

"Note 12 Stock-Based Compensation 2023 Long-Term Incentive Plan The Company implemented the Vishay Intertechnology, Inc. 2023 Long-Term Incentive Plan (the ""2023 Plan"") after receiving stockholder approval at its 2023 Annual Meeting of Stockholders on May 23, 2023. The 2023 Plan allows the Company to grant up to 6,000,000 shares (subject to certain adjustments described in the 2023 Plan) of stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-based awards, phantom stock units, and other cash-based awards to employees, directors, consultants, and other service providers of the Company and its affiliates. Such instruments are available for grant until March 24, 2033. At December 31, 2025, the Company has reserved 1,524,000 shares of common stock for future grants of equity awards pursuant to the 2023 Plan. 2007 Stock Incentive Program Under the Company's 2007 Stock Incentive Program (the ""2007 Program""), as amended and restated, certain executive officers and board members of the Company were granted restricted stock units. No further awards will be granted pursuant to the 2007 Program. Pursuant to the terms of the 2023 Plan, any shares of common stock that are subject to outstanding awards granted pursuant to the 2007 Program that subsequently cease to be subject to such awards as a result of the termination, expiration, cancellation, or forfeiture of such awards and any shares of common stock withheld in settlement of tax withhol …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 18 Fair Value Measurements The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis: Total Fair Value Level 1 Level 2 Level 3 December 31, 2025 Assets: Assets held in rabbi trusts $ 55,442 $ 22,749 $ 32,693 $ - Available for sale securities $ 4,660 4,660 - - Non - U.S. Defined Benefit Pension Plan Assets: Equity securities $ 3,114 3,114 - - Fixed income securities $ 22,025 22,025 - - Cash $ 41,095 41,095 - - $ 126,336 $ 93,643 $ 32,693 $ - Liability: Acquisitions contingent consideration $ 2,938 - - 2,938 December 31, 2024 Assets: Assets held in rabbi trusts $ 53,508 $ 24,518 $ 28,990 $ - Available for sale securities $ 4,043 4,043 - - Non - U.S. Defined Benefit Pension Plan Assets: Equity securities $ 4,174 4,174 - $ - Fixed income securities $ 23,991 23,991 - - Cash $ 36,303 36,303 - - $ 122,019 $ 93,029 $ 28,990 $ - Liability: Acquisitions contingent consideration $ 3,801 - - 3,801 There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented. During the third and fourth fiscal quarters of 2024, the Company performed quantitative goodwill impairment tests in which the fair value of the Company's reporting units was calculated. See additional information on the impairment tests in Note 19. The Company maintains non-qualified trusts, referred to as rabbi trusts, to fund payments under deferred compensation and non-qualified pension plans. …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Note 19 Goodwill and Other Intangible Assets When required to perform quantitative goodwill impairment assessments, the Company estimates the fair value of each of its business segments, which represent its reporting units for goodwill impairment testing purposes, using mostly Level 3 inputs. Assessments are performed using a weighting of the income and market approaches to determine fair value. The Company uses a discounted cash flow (DCF) method, using unobservable inputs, as its income approach. The Company uses comparable company market multiples for its market approach. The resulting estimates of fair value from the income approach and the market approach are then weighted equally in determining the overall estimated fair value of each reporting unit. The determination of the fair value of the reporting units and the allocation of that value to individual assets and liabilities within those reporting units requires the Company to make significant estimates and assumptions. These estimates and assumptions primarily include, but are not limited to: the selection of appropriate peer group companies; control premiums appropriate for acquisitions in the industries in which the Company competes; the discount rate; terminal growth rates; and forecasts of revenue, operating income, depreciation and amortization (components of earnings before interest, taxes, depreciation, amortization, ""EBITDA""); and capital expenditures. Due to the inherent uncertainty involved in making the …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"Note 5 Income Taxes Changes in Tax Laws and Regulations United States On July 4, 2025, H.R. 1 (the ""Act""), a tax reconciliation act, was enacted into law in the United States. The Act did not change the U.S. federal tax rate and most of the provisions of the Act are effective for tax years beginning after December 31, 2025. The Company has recorded no change to the deferred U.S. taxes directly related to the Act. The Act allows the deduction in tax year 2025, or in tax years 2025 and 2026, of some previously capitalized research and development costs. The Company anticipates that these additional tax deductions may preclude the utilization of a U.S. foreign tax credit (""FTC"") that is due to expire in 2028. As an indirect result of this change in tax law, the Company recorded a valuation allowance of $9,420 on the deferred tax asset related to this FTC. On December 22, 2017, the Tax Cuts and Jobs Act (the ""TCJA"") was enacted in the United States. Under previous law, companies could indefinitely defer U.S. income taxation on unremitted foreign earnings. The TCJA imposed a one-time transition tax on deferred foreign earnings, payable in defined increments over eight years. Installments of $47,027 were paid in 2025, $37,622 were paid in 2024, $27,670 were paid in 2023, and $14,757 in each of 2022, 2021, 2020, 2019, and 2018. The 2025 installment was the last payment. The Company has elected to account for Global Intangible Low-Taxed Income (""GILTI"") tax in the period in …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Note 4 Leases The net right of use assets and lease liabilities recognized on the consolidated balance sheets for the Company's operating leases as of December 31, 2025 and 2024 are presented below: December 31, 2025 December 31, 2024 Right of use assets Operating Leases Buildings and improvements $ 114,199 $ 112,528 Machinery and equipment 5,547 5,425 Total $ 119,746 $ 117,953 Current lease liabilities Operating Leases Buildings and improvements $ 23,555 $ 22,993 Machinery and equipment 2,991 2,908 Total $ 26,546 $ 25,901 Long-term lease liabilities Operating Leases Buildings and improvements $ 93,342 $ 91,772 Machinery and equipment 2,457 2,446 Total $ 95,799 $ 94,218 Total lease liabilities $ 122,345 $ 120,119 Lease expense is classified in the statements of operations based on asset use. Total lease cost recognized on the consolidated statements of operations is as follows: Years ended December 31, 2025 2024 2023 Lease expense Operating lease expense $ 28,700 $ 29,787 $ 27,909 Short-term lease expense 2,086 964 988 Variable lease expense 595 581 566 Total lease expense $ 31,381 $ 31,332 $ 29,463 The Company paid $28,976, $29,744, and $28,164 for its operating leases during the years ended December 31, 2025, 2024, and 2023, respectively, which are included in operating cash flows on the consolidated statements of cash flows. The weighted-average remaining lease term for the Company's operating leases is 8.3 years and the weighted-average discount rate is 6.7% as of Decembe …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Note 1 Summary of Significant Accounting Policies (continued) Recent Accounting Pronouncements Accounting Guidance Recently Adopted In December 2023, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") No. 2023-09, Improvements to Income Tax Disclosures . The ASU requires entities to consistently categorize and provide greater disaggregation of information in the rate reconciliation and income taxes paid. The ASU is effective for the Company for annual periods beginning on or after January 1, 2025, with the ability to early adopt. The Company adopted the ASU effective January 1, 2025. The adoption of the ASU did not impact the Company's financial position, results of operations, or cash flows, but increased its income tax disclosures. Recent Accounting Guidance Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses . The ASU requires entities to provide expanded disclosures about specific income statement expenses, primarily through enhanced disclosures about purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The ASU is effective for the Company for annual periods beginning on or after January 1, 2027, and interim periods beginning after January 1, 2028, with the ability to early adopt. The adoption of the ASU will not impact the Company's financial position, results of operations, or cash flows, but will increase disclosures. In J …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Note 11 Pensions and Other Postretirement Benefits The Company maintains various retirement benefit plans. GAAP requires employers to recognize the funded status of a benefit plan, measured as the difference between plan assets at fair value and the benefit obligation, in its balance sheet. The recognition of the funded status on the balance sheet requires employers to recognize actuarial items (such as actuarial gains and losses, prior service costs, and transition obligations) as a component of other comprehensive income, net of tax. The following table summarizes amounts recorded on the accompanying consolidated balance sheets associated with these various retirement benefit plans: December 31, 2025 2024 Included in ""Other assets"": Non-U.S. pension plans $ 2,507 $ 1,216 Total included in other assets $ 2,507 $ 1,216 Included in ""Payroll and related expenses"": U.S. pension plans $ (132 ) $ (880 ) Non-U.S. pension plans (7,970 ) (6,720 ) U.S. other postretirement plans (221 ) (520 ) Non-U.S. other postretirement plans (1,027 ) (799 ) Total included in payroll and related expenses $ (9,350 ) $ (8,919 ) Accrued pension and other postretirement costs: U.S. pension plans $ (27,593 ) $ (27,758 ) Non-U.S. pension plans (126,130 ) (125,719 ) U.S. other postretirement plans (1,844 ) (3,418 ) Non-U.S. other postretirement plans (6,129 ) (6,287 ) Other retirement obligations (11,027 ) (10,518 ) Total accrued pension and other postretirement costs $ (172,723 ) $ (173,700 ) Accumul …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

"Note 20 Related Party Transactions Vishay Precision Group, Inc. On July 6, 2010, Vishay completed the spin-off of its measurements and foil resistors businesses into an independent, publicly-traded company, Vishay Precision Group, Inc. (""VPG""). Vishays common stockholders received 1 share of VPG common stock for every 14 shares of Vishay common stock they held on the record date, June 25, 2010, and Vishays Class B common stockholders received 1 share of VPG Class B common stock for every 14 shares of Vishay Class B common stock they held on the record date. Following the spin-off, VPG is an independent company and Vishay retains no ownership interest. Relationship with VPG after Spin-off Following the spin-off, VPG and Vishay operate separately, each as independent public companies. Vishay has no ownership interest in VPG. However, Ruta Zandman, solely or on a shared basis with Marc Zandman and Ziv Shoshani, control a large portion of the voting power of both Vishay and VPG. Ruta Zandman and Marc Zandman are members of Vishay's Board of Directors. Marc Zandman, Vishay's Executive Chairman of the Board and an executive officer of Vishay, previously served on the VPG Board of Directors until his resignation, effective immediately before the election of directors at the VPG 2025 Annual Meeting of Stockholders. Ziv Shoshani, CEO of VPG and a nephew of Ruta Zandman and a brother of Roy Shoshani, Vishay's Executive Vice President - Chief Operating Officer - Semiconductors and Ch …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

Note 3 Restructuring and Related Activities In September 2024, the Company announced the implementation of restructuring actions designed to optimize the Companys manufacturing footprint and streamline business decision making. The restructuring actions are being implemented in phases and include: Selling, general, and administrative functions streamlined through the fourth fiscal quarter of 2025. The closure of three manufacturing facilities. A Diodes segment back-end facility in Shanghai, China is expected to be closed by the end of 2026 with production transfers completed in phases beginning in the fourth quarter of 2025. In addition, two small facilities in the Resistors segment in Fichtelberg, Germany and Milwaukee, Wisconsin, are expected to be closed in 2026. Various changes in manufacturing operations and production transfers. The following table summarizes the activity to date related to this program: Expense recorded in 2024 $ 40,614 Utilized (8,734 ) Foreign currency translation (1,292 ) Balance at December 31, 2024 $ 30,588 Utilized (15,268 ) Foreign currency translation 2,106 Balance at December 31, 2025 $ 17,426 Severance payment terms vary by country, but generally are paid in a lump sum at cessation of employment. Some payments are made over an extended period. As of December 31, 2025, substantially all of the liability is current and is included in other accrued expenses in the accompanying consolidated balance sheet. …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"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 Companys chief operating decision maker is its President and Chief Executiv …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Vishay Intertechnology, Inc. (Vishay or the Company) manufactures one of the worlds largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, military, aerospace, healthcare, power supplies, telecommunications, consumer products, and computing end markets. Semiconductors include MOSFETs, diodes, and optoelectronic components. Passive components include resistors, inductors, and capacitors. Note 1 Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ significantly from those estimates. Principles of Consolidation The consolidated financial statements include the accounts of Vishay and all of its subsidiaries in which a controlling financial interest is maintained. For those consolidated subsidiaries in which the Companys ownership is less than 100 percent, the outside stockholders interests are shown as noncontrolling interests in the accompanying consolidated balance sheets. Investments in affiliates over which the Company has significant influence but not a controlling interest are carried on the equity basis. Investments in affiliates over which the Company does not have s …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"Note 7 Stockholders Equity The Companys Class B common stock carries 10 votes per share while the common stock carries 1 vote per share. Class B shares are transferable only to certain permitted transferees while the common stock is freely transferable. Class B shares are convertible on a one-for-one basis at any time into shares of common stock. Transfers of Class B shares other than to permitted transferees result in the automatic conversion of the Class B shares into common stock. The Board of Directors may only declare dividends or other distributions with respect to the common stock or the Class B common stock if it grants such dividends or distributions in the same amount per share with respect to the other class of stock. Stock dividends or distributions on any class of stock are payable only in shares of stock of that class. Shares of either common stock or Class B common stock cannot be split, divided, or combined unless the other is also split, divided, or combined equally. Cash dividends were paid quarterly in 2025 and 2024. The Credit Facility also allows an unlimited amount of defined ""Restricted Payments,"" which include cash dividends and share repurchases, provided the Company's pro forma net leverage ratio is equal to or less than 2.50 to 1.00. If the Company's pro forma net leverage ratio is greater than 2.50 to 1.00, the Credit Facility allows such payments up to $100,000 per annum (subject to a cap of $300,000 for the term of the facility, with up to $25 …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Note 5 Long-Term Debt Long-term debt consists of the following: September 27, 2025 December 31, 2024 Credit facility $ 189,000 $ 136,000 Convertible senior notes, due 2025 - 41,911 Convertible senior notes, due 2030 750,000 750,000 Deferred financing costs (19,302 ) (22,892 ) 919,698 905,019 Less current portion - - $ 919,698 $ 905,019 The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2030 as of September 27, 2025: 2030 Notes Issuance date September 12, 2023 Maturity date September 15, 2030 Principal amount as of September 27, 2025 $ 750,000 Cash coupon rate (per annum) 2.25 % Conversion rate (per $1 principal amount) 33.1609 Effective conversion price (per share) $ 30.16 130 % of the current effective conversion price (per share) $ 39.21 The convertible senior notes due 2025 matured on June 15, 2025. Upon maturity, $41,911 aggregate principal amount of the convertible senior notes due 2025 were settled in cash, funded by borrowings on the revolving credit facility. No shares were issued to settle the convertible senior notes due 2025. Deferred financing costs are recognized as non-cash interest expense. Non-cash interest expense was $1,195 and $3,613 for the fiscal quarter and nine fiscal months ended September 27, 2025, respectively, and $1,249 and $3,675 for the fiscal quarter and nine fiscal months ended September 28, 2024. …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"The Company has a broad line of products that it sells to original equipment manufacturers (""OEMs""), electronic manufacturing services (""EMS"") companies, and independent distributors. The distribution of sales by channel is shown below: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Distributors $ 445,597 $ 406,468 $ 1,264,249 $ 1,200,456 OEMs 294,146 278,801 849,747 871,739 EMS companies 50,897 50,084 154,130 150,676 Total Revenue $ 790,640 $ 735,353 $ 2,268,126 $ 2,222,871 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Asia $ 340,255 $ 289,577 $ 942,313 $ 857,073 Europe 258,763 256,296 770,583 793,183 Americas 191,622 189,480 555,230 572,615 Total Revenue $ 790,640 $ 735,353 $ 2,268,126 $ 2,222,871 The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and medical end markets. Sales by end market are presented below: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Industrial $ 271,880 $ 243,610 $ 783,834 $ 753,872 Automotive 286,606 279,597 811,141 834,998 Military and Aerospace 79,139 81,264 235,944 245,189 Medical 38,794 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

"Note 10 Stock-Based Compensation The following table summarizes stock-based compensation expense recognized: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Restricted stock units (""RSUs"") $ 5,899 $ 5,635 $ 17,552 14,810 Phantom stock units - - 83 118 Total $ 5,899 $ 5,635 $ 17,635 14,928 The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at September 27, 2025 (amortization periods in years) : Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 32,559 2.0 Phantom stock units - n/a Total $ 32,559 Restricted Stock Units RSU activity under the Company's stock incentive programs as of September 27, 2025 and changes during the nine fiscal months then ended are presented below (number of RSUs in thousands) : Number of RSUs Weighted Average Grant-date Fair Value per Unit Outstanding: January 1, 2025 2,628 $ 21.37 Granted* 1,889 15.11 Vested** (772 ) 21.78 Cancelled or forfeited (203 ) 19.89 Outstanding at September 27, 2025 3,542 $ 18.03 Expected to vest at September 27, 2025 2,571 * Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** The number of RSUs vested includes shares that the Company withheld on behalf of em …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 13 Fair Value Measurements The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis: Total Fair Value Level 1 Level 2 Level 3 September 27, 2025 Assets: Assets held in rabbi trusts $ 54,825 $ 22,582 $ 32,243 $ - Available for sale securities $ 4,635 4,635 - - $ 59,460 $ 27,217 $ 32,243 $ - Liability: Acquisitions contingent consideration $ 3,522 $ - $ - $ 3,522 December 31, 2024 Assets: Assets held in rabbi trusts $ 53,508 $ 24,518 $ 28,990 $ - Available for sale securities $ 4,043 4,043 - - $ 57,551 $ 28,561 $ 28,990 $ - Liability: Acquisitions contingent consideration $ 3,801 $ - $ - $ 3,801 There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented. The Company maintains non-qualified trusts, referred to as rabbi trusts, to fund payments under deferred compensation and non-qualified pension plans. Rabbi trust assets consist primarily of marketable securities, classified as available-for-sale and company-owned life insurance assets. The marketable securities held in the rabbi trusts are valued using quoted market prices on the last business day of the period. The company-owned life insurance assets are valued in consultation with the Companys insurance brokers using the value of underlying assets of the insurance contracts. The fair value measurement of the marketable securities held in the rabbi trust is considered a Level 1 measurem …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Note 4 Income Taxes The provision for income taxes consists of provisions for federal, state, and foreign income taxes. The effective tax rates for the periods ended September 27, 2025 and September 28, 2024 reflect the Companys expected tax rate on reported income before income tax and tax adjustments. The Company operates in a global environment with significant operations in various jurisdictions outside the United States. Accordingly, the consolidated income tax rate is a composite rate reflecting the Companys earnings and the applicable tax rates in the various jurisdictions where the Company operates. In December 2021, the Organization for Economic Co-operation and Development (OECD) issued model rules for a new global minimum tax (Pillar Two). Various jurisdictions around the world have passed legislation to enact Pillar Two and certain Pillar Two rules are in effect for 2025. The United States has not adopted Pillar Two. The Company does not anticipate a material increase in income tax expense for 2025 due to Pillar Two and the Company is continuing to monitor Pillar Two developments and the potential future impact on its operations and income tax expense. On July 4, 2025, H.R. 1 (the Act), a tax reconciliation act, was enacted into law in the United States. The Act did not change the U.S. federal tax rate and most of the provisions of the Act are effective for tax years beginning after December 31, 2025. The Company has recorded no change to the deferred U.S. taxes …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Note 3 Leases The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows: September 27, 2025 December 31, 2024 Right of use assets Operating Leases Buildings and improvements $ 114,128 $ 112,528 Machinery and equipment 5,454 5,425 Total $ 119,582 $ 117,953 Current lease liabilities Operating Leases Buildings and improvements $ 23,351 $ 22,993 Machinery and equipment 2,972 2,908 Total $ 26,323 $ 25,901 Long-term lease liabilities Operating Leases Buildings and improvements $ 93,632 $ 91,772 Machinery and equipment 2,404 2,446 Total $ 96,036 $ 94,218 Total lease liabilities $ 122,359 $ 120,119 Lease expense is classified in the statements of operations based on asset use. Total lease cost recognized on the consolidated condensed statements of operations is as follows: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Lease expense Operating lease expense $ 7,334 $ 7,553 $ 21,418 $ 22,312 Short-term lease expense 543 262 1,496 738 Variable lease expense 96 120 489 482 Total lease expense $ 7,973 $ 7,935 $ 23,403 $ 23,532 The Company paid $21,824 and $22,618 for its operating leases in the nine fiscal months ended September 27, 2025 and September 28, 2024, respectively, which are included in operating cash flows on the consolidated condensed statements of cash flows. The weighted-average remaining lease term for …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Note 9 Pensions and Other Postretirement Benefits The Company maintains various retirement benefit plans. The service cost component of net periodic pension cost is classified in costs of products sold or selling, general, and administrative expenses on the consolidated condensed statements of operations based on the respective employee's function. The other components of net periodic pension cost are classified as other expense on the consolidated condensed statements of operations. Defined Benefit Pension Plans The following table shows the components of the net periodic pension cost for the third fiscal quarters of 2025 and 2024 for the Companys defined benefit pension plans: Fiscal quarter ended September 27, 2025 Fiscal quarter ended September 28, 2024 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 776 $ - $ 783 Interest cost 380 1,623 381 1,688 Expected return on plan assets - (566 ) - (586 ) Amortization of prior service cost 2 37 16 57 Amortization of losses (gains) - 262 (108 ) 463 Curtailment and settlement losses - 24 - 102 Net periodic benefit cost $ 382 $ 2,156 $ 289 $ 2,507 The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 27, 2025 and September 28, 2024 for the Companys defined benefit pension plans: Nine fiscal months ended September 27, 2025 Nine fiscal months ended September 28, 2024 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 2,270 $ …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 2 Restructuring and Related Activities In September 2024, the Company announced the implementation of restructuring actions designed to optimize the Companys manufacturing footprint and streamline business decision making. The following table summarizes activity to date related to this program: Expense recorded in 2024 $ 40,614 Utilized (8,734 ) Foreign currency translation (1,292 ) Balance at December 31, 2024 $ 30,588 Utilized (11,978 ) Foreign currency translation 1,741 Balance at September 27, 2025 $ 20,351 Severance payment terms vary by country, but are generally paid in a lump sum at cessation of employment. Some payments are made over an extended period. Substantially all of the liability is current and is included in other accrued expenses in the accompanying consolidated condensed balance sheet. …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Note 7 Revenue Recognition Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Beginning balance $ 43,994 $ 44,493 $ 43,445 $ 47,760 Sales allowances 18,688 21,969 66,764 68,200 Credits issued (22,493 ) (24,448 ) (71,192 ) (73,635 ) Foreign currency (384 ) 456 788 145 Ending balance $ 39,805 $ 42,470 $ 39,805 $ 42,470 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Note 11 Segment Information The following tables set forth business segment information: MOSFETs Diodes Optoelectronic Components Resistors Inductors Capacitors Corporate/ Other Total Fiscal quarter ended September 27, 2025 : Net revenues $ 167,133 $ 149,628 $ 55,590 $ 195,707 $ 91,990 $ 130,592 $ - $ 790,640 Cost of products sold (excluding depreciation) $ 136,338 $ 107,150 $ 38,855 $ 145,064 $ 59,469 $ 99,697 $ - $ 586,573 Depreciation expense in costs of products sold 13,985 12,088 4,023 11,260 4,240 4,612 - 50,208 Total costs of products sold $ 150,323 $ 119,238 $ 42,878 $ 156,324 $ 63,709 $ 104,309 $ - $ 636,781 Gross profit $ 16,810 $ 30,390 $ 12,712 $ 39,383 $ 28,281 $ 26,283 $ - $ 153,859 Segment operating expenses $ 23,207 $ 7,616 $ 5,518 $ 9,506 $ 3,802 $ 6,407 $ - $ 56,056 Segment operating income (loss) $ (6,397 ) $ 22,774 $ 7,194 $ 29,877 $ 24,479 $ 19,876 $ - $ 97,803 Total depreciation expense $ 14,691 $ 12,377 $ 4,142 $ 11,463 $ 4,294 $ 4,656 $ 2,385 $ 54,008 Capital expenditures 32,225 7,796 2,292 3,876 738 4,754 643 52,324 Total assets as of September 27, 2025: $ 1,145,176 $ 715,379 $ 357,933 $ 946,334 $ 319,553 $ 457,475 $ 254,126 $ 4,195,976 Fiscal quarter ended September 28, 2024: Net revenues $ 147,134 $ 145,183 $ 63,227 $ 180,889 $ 90,253 $ 108,667 $ - $ 735,353 Cost of products sold (excluding depreciation) $ 117,080 $ 104,400 $ 47,752 $ 129,691 $ 58,516 $ 79,964 $ - $ 537,403 Depreciation expense in cost of products sold 12,876 11,538 3,927 10,547 4, …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Note 6 Stockholders' Equity In 2022, the Company's Board of Directors adopted a Stockholder Return Policy that will remain in effect until such time as the Board votes to amend or rescind the policy. The Stockholder Return Policy calls for the Company to return a prescribed amount of cash flows on an annual basis. The Company intends to return such amounts directly, in the form of dividends, or indirectly, in the form of stock repurchases. The following table summarizes activity pursuant to this policy: Fiscal quarters ended Nine fiscal months ended September 27, 2025 September 28, 2024 September 27, 2025 September 28, 2024 Dividends paid to stockholders $ 13,560 $ 13,644 $ 40,679 $ 41,096 Stock repurchases - 12,624 12,538 37,784 Total $ 13,560 $ 26,268 $ 53,217 $ 78,880 The repurchased shares are being held as treasury stock. The number of shares of common stock being held as treasury stock was 10,662,155 and 9,933,595 as of September 27, 2025 and December 31, 2024, respectively. …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing