0001140361-19-013854 | 10-Q/A | XBRL Viewer | Vishay Intertechnology INC

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 29, 2019	Jul. 26, 2019
Entity Listings [Line Items]
Document Type	10-Q/A
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2019
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	VISHAY INTERTECHNOLOGY INC
Entity Incorporation, State or Country Code	DE
Entity File Number	001-07416
Entity Tax Identification Number	38-1686453
Entity Address, Address Line One	63 Lancaster Avenue
Entity Address, City or Town	Malvern
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	610
Local Phone Number	644-1300
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Small Business	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000103730
Title of 12(b) Security	Common stock, par value $0.10 per share
Trading Symbol	VSH
Security Exchange Name	NYSE
Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		132,348,357
Class B Convertible Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		12,097,409

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 790,906	$ 686,032
Short-term investments	163	78,286
Accounts receivable, net	365,728	397,020
Inventories:
Finished goods	132,794	138,112
Work in process	191,552	190,982
Raw materials	139,150	150,566
Total inventories	463,496	479,660
Prepaid expenses and other current assets	125,104	142,888
Total current assets	1,745,397	1,783,886
Property and equipment, at cost:
Land	74,701	87,622
Buildings and improvements	579,304	619,445
Machinery and equipment	2,559,473	2,510,001
Construction in progress	115,288	125,109
Allowance for depreciation	(2,380,546)	(2,373,176)
Property and equipment, net	948,220	969,001
Right of use assets	96,136	0
Goodwill	150,735	147,480
Other intangible assets, net	64,883	65,688
Other assets	150,759	140,143
Total assets	3,156,130	3,106,198
Current liabilities:
Notes payable to banks	40	18
Trade accounts payable	160,222	218,322
Payroll and related expenses	129,095	141,670
Lease liabilities	15,323	0
Other accrued expenses	162,937	229,660
Income taxes	43,979	54,436
Total current liabilities	511,596	644,106
Long-term debt less current portion	519,863	494,509
U.S. transition tax payable	140,196	154,953
Deferred income taxes	64,878	85,471
Long-term lease liabilities	86,086	0
Other liabilities	84,628	79,489
Accrued pension and other postretirement costs	256,805	260,984
Total liabilities	1,664,052	1,719,512
Redeemable convertible debentures	0	2,016
Vishay stockholders' equity
Common stock	13,235	13,212
Class B convertible common stock	1,210	1,210
Capital in excess of par value	1,426,164	1,436,011
Retained earnings (Accumulated deficit)	55,659	(61,258)
Accumulated other comprehensive income (loss)	(6,316)	(6,791)
Total Vishay stockholders' equity	1,489,952	1,382,384
Noncontrolling interests	2,126	2,286
Total equity	1,492,078	1,384,670
Total liabilities, temporary equity, and equity	$ 3,156,130	$ 3,106,198

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Consolidated Statements of Operations [Abstract]
Net revenues	$ 685,240	$ 761,030	$ 1,430,399	$ 1,477,825
Costs of products sold	510,639	533,792	1,044,639	1,045,287
Gross profit	174,601	227,238	385,760	432,538
Selling, general, and administrative expenses	95,112	103,945	198,536	205,183
Operating income	79,489	123,293	187,224	227,355
Other income (expense):
Interest expense	(8,204)	(8,372)	(16,596)	(16,049)
Other components of net periodic pension cost	(3,367)	(3,450)	(6,763)	(6,969)
Other	2,970	3,397	8,278	2,550
Loss on early extinguishment of debt	0	(17,309)	(1,307)	(17,309)
Total other income (expense)	(8,601)	(25,734)	(16,388)	(37,777)
Income before taxes	70,888	97,559	170,836	189,578
Income tax expense (benefit)	26,153	(5,703)	50,460	23,771
Net earnings	44,735	103,262	120,376	165,807
Less: net earnings attributable to noncontrolling interests	258	165	440	344
Net earnings attributable to Vishay stockholders	$ 44,477	$ 103,097	$ 119,936	$ 165,463
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.31	$ 0.71	$ 0.83	$ 1.15
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.31	$ 0.65	$ 0.83	$ 1.04
Weighted average shares outstanding - basic (in shares)	144,621	144,382	144,589	144,355
Weighted average shares outstanding - diluted (in shares)	145,023	157,657	145,158	158,580
Cash dividends per share (in dollars per share)	$ 0.0950	$ 0.0850	$ 0.1800	$ 0.1525

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 44,735	$ 103,262	$ 120,376	$ 165,807
Other comprehensive income (loss), net of tax
Pension and other post-retirement actuarial items	1,623	1,575	3,080	3,182
Foreign currency translation adjustment	7,384	(61,537)	(2,605)	(34,513)
Other comprehensive income (loss)	9,007	(59,962)	475	(31,331)
Comprehensive income	53,742	43,300	120,851	134,476
Less: comprehensive income attributable to noncontrolling interests	258	165	440	344
Comprehensive income attributable to Vishay stockholders	$ 53,484	$ 43,135	$ 120,411	$ 134,132

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Operating activities
Net earnings	$ 120,376	$ 165,807
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	81,346	81,174
(Gain) loss on disposal of property and equipment	(162)	(2,242)
Accretion of interest on convertible debt instruments	6,985	2,964
Inventory write-offs for obsolescence	12,643	11,799
Deferred income taxes	(5,601)	(25,669)
Loss on extinguishment of debt	1,307	17,309
Other	4,283	4,148
Change in U.S. transition tax liability	(14,757)	(14,400)
Change in repatriation tax liability	(20,479)	(92,093)
Net change in operating assets and liabilities, net of effects of businesses acquired	(50,122)	(110,627)
Net cash provided by operating activities	135,819	38,170
Investing activities
Capital expenditures	(70,148)	(76,646)
Proceeds from sale of property and equipment	464	8,378
Purchase of businesses, net of cash received	(11,862)	(14,880)
Purchase of short-term investments	(1,970)	(50,193)
Maturity of short-term investments	79,694	447,359
Other investing activities	2,893	(935)
Net cash provided by (used in) investing activities	(929)	313,083
Financing activities
Proceeds from long-term borrowings	0	600,000
Issuance costs	(5,394)	(15,621)
Repurchase of convertible debentures	(22,695)	(584,991)
Net proceeds (payments) on revolving credit lines	28,000	(54,000)
Net changes in short-term borrowings	22	119
Distributions to noncontrolling interests	(600)	(525)
Cash withholding taxes paid when shares withheld for vested equity awards	(2,708)	(2,297)
Net cash used in financing activities	(29,375)	(79,308)
Effect of exchange rate changes on cash and cash equivalents	(641)	(12,921)
Net increase in cash and cash equivalents	104,874	259,024
Cash and cash equivalents at beginning of period	686,032	748,032
Cash and cash equivalents at end of period	790,906	1,007,056
Common Stock [Member]
Financing activities
Dividends paid to common stockholders	(23,822)	(20,148)
Class B Convertible Common Stock [Member]
Financing activities
Dividends paid to common stockholders	$ (2,178)	$ (1,845)

Consolidated Statement of Equity - USD ($) $ in Thousands	Capital In Excess of Par Value [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Vishay Stockholders' Equity [Member]	Noncontrolling Interests [Member]	Total	Common Stock [Member]	Class B Convertible Common Stock [Member]
Balance at Period Start at Dec. 31, 2017	$ 1,752,506	$ (362,254)	$ 25,714	$ 1,430,367	$ 2,032	$ 1,432,399	$ 13,188	$ 1,213
Net earnings (loss)	0	62,366	0	62,366	179	62,545	0	0
Other comprehensive income	0	0	28,631	28,631	0	28,631	0	0
Conversion of Class B shares	0	0	0	0	0	0	3	(3)
Distributions to noncontrolling interests	0	0	0	0	0	0	0	0
Temporary equity reclassification	1,080	0	0	1,080	0	1,080	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(2,318)	0	0	(2,297)	0	(2,297)	21	0
Dividends declared	11	(9,746)	0	(9,735)	0	(9,735)	0	0
Stock compensation expense	2,483	0	0	2,483	0	2,483	0	0
Balance at Period End at Mar. 31, 2018	1,753,762	(307,833)	52,544	1,512,895	2,211	1,515,106	13,212	1,210
Balance at Period Start at Dec. 31, 2017	1,752,506	(362,254)	25,714	1,430,367	2,032	1,432,399	13,188	1,213
Net earnings (loss)						165,807
Other comprehensive income						(31,331)
Balance at Period End at Jun. 30, 2018	1,593,942	(217,008)	(7,418)	1,383,938	1,851	1,385,789	13,212	1,210
Cumulative effect of accounting change for adoption of ASU	0	1,801	(1,801)	0	0	0	0	0
Balance at Period Start at Mar. 31, 2018	1,753,762	(307,833)	52,544	1,512,895	2,211	1,515,106	13,212	1,210
Net earnings (loss)	0	103,097	0	103,097	165	103,262	0	0
Other comprehensive income	0	0	(59,962)	(59,962)	0	(59,962)	0	0
Distributions to noncontrolling interests	0	0	0	0	(525)	(525)	0	0
Temporary equity reclassification	699	0	0	699	0	699	0	0
Dividends declared	14	(12,272)	0	(12,258)	0	(12,258)	0	0
Stock compensation expense	778	0	0	778	0	778	0	0
Issuance of convertible debentures	85,262	0	0	85,262	0	85,262	0	0
Repurchase of convertible senior debentures	(246,573)	0	0	(246,573)	0	(246,573)	0	0
Balance at Period End at Jun. 30, 2018	1,593,942	(217,008)	(7,418)	1,383,938	1,851	1,385,789	13,212	1,210
Balance at Period Start at Dec. 31, 2018	1,436,011	(61,258)	(6,791)	1,382,384	2,286	1,384,670	13,212	1,210
Net earnings (loss)	0	75,459	0	75,459	182	75,641	0	0
Other comprehensive income	0	0	(8,532)	(8,532)	0	(8,532)	0	0
Conversion of Class B shares	0	0	0	0	0	0	0	0
Temporary equity reclassification	3	0	0	3	0	3	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(2,681)	0	0	(2,659)	0	(2,659)	22	0
Dividends declared	15	(12,292)	0	(12,277)	0	(12,277)	0	0
Stock compensation expense	3,536	0	0	3,536	0	3,536	0	0
Repurchase of convertible senior debentures	(11,783)	0	0	(11,783)	0	(11,783)	0	0
Balance at Period End at Mar. 30, 2019	1,425,101	24,922	(15,323)	1,449,144	2,468	1,451,612	13,234	1,210
Balance at Period Start at Dec. 31, 2018	1,436,011	(61,258)	(6,791)	1,382,384	2,286	1,384,670	13,212	1,210
Net earnings (loss)						120,376
Other comprehensive income						475
Balance at Period End at Jun. 29, 2019	1,426,164	55,659	(6,316)	1,489,952	2,126	1,492,078	13,235	1,210
Cumulative effect of accounting change for adoption of ASU	0	23,013	0	23,013	0	23,013	0	0
Balance at Period Start at Mar. 30, 2019	1,425,101	24,922	(15,323)	1,449,144	2,468	1,451,612	13,234	1,210
Net earnings (loss)	0	44,477	0	44,477	258	44,735	0	0
Other comprehensive income	0	0	9,007	9,007	0	9,007	0	0
Distributions to noncontrolling interests	0	0	0	0	(600)	(600)	0	0
Temporary equity reclassification	206	0	0	206	0	206	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(50)	0	0	(49)	0	(49)	1	0
Dividends declared	17	(13,740)	0	(13,723)	0	(13,723)	0	0
Stock compensation expense	890	0	0	890	0	890	0	0
Balance at Period End at Jun. 29, 2019	$ 1,426,164	$ 55,659	$ (6,316)	$ 1,489,952	$ 2,126	$ 1,492,078	$ 13,235	$ 1,210

Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Mar. 31, 2018
Consolidated Statement of Equity [Abstract]
Conversion of Class B shares (in shares)		18	31,800
Restricted stock issuances (in shares)	9,906	220,718	211,328
Dividends declared (in dollars per share)	$ 0.0950	$ 0.0850	$ 0.0675

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 29, 2019
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The accompanying unaudited consolidated condensed financial statements of Vishay Intertechnology, Inc. (“Vishay” or the “Company”) have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes necessary for presentation of financial position, results of operations, and cash flows required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. The information furnished reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair summary of the financial position, results of operations, and cash flows for the interim periods presented. The financial statements should be read in conjunction with the consolidated financial statements filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The results of operations for the fiscal quarter and six fiscal months ended June 29, 2019 are not necessarily indicative of the results to be expected for the full year. The Company reports interim financial information for 13-week periods beginning on a Sunday and ending on a Saturday, except for the first fiscal quarter, which always begins on January 1, and the fourth fiscal quarter, which always ends on December 31. The four fiscal quarters in 2019 end on March 30, 2019, June 29, 2019, September 28, 2019, and December 31, 2019, respectively. The four fiscal quarters in 2018 ended on March 31, 2018, June 30, 2018, September 29, 2018, and December 31, 2018, respectively. Recently Adopted Accounting Guidance In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842). The ASU is the result of a project between the FASB and the International Accounting Standards Board to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The guidance in ASU No. 2016-02 and all related ASUs is codified in Accounting Standard Codification (“ASC”) Topic 842, Leases. The Company adopted ASC Topic 842 effective January 1, 2019. Upon adoption at January 1, 2019, the Company recognized right of use assets of $91,462 and lease liabilities of $95,784 on the consolidated balance sheet. The difference between the initial right of use asset and lease liability balances recognized upon adoption of ASC Topic 842 is primarily due to accrued lease incentive balances at December 31, 2018. On December 20, 2018, the Company received sale proceeds of $45,500 and concurrently leased-back its former manufacturing site in Santa Clara, California, under a short-term arrangement, to raze the buildings. Upon adoption of ASC Topic 842, the Company was required to reassess the accounting for these transactions. The transactions did not qualify as a completed sale and leaseback under previous GAAP. However, pursuant to ASC Topic 842’s sale and leaseback guidance, the transaction would qualify as a completed sale. The Company recognized a cumulative-effect adjustment to retained earnings (accumulated deficit) of $23,013, to recognize the sale as of the date of adoption, and derecognized the land, building, and related deferred proceeds, which had been recorded in other accrued expenses. The adoption of the ASU did not have a material impact on the Company's results of operations or cash flows. See Note 3. Recently Issued Accounting Guidance In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The ASU is effective for the Company for interim and annual periods beginning on or after January 1, 2020, with the ability to early adopt for interim and annual periods beginning on or after January 1, 2019. The Company is currently evaluating the effect of the ASU on its financial assets measured at amortized cost. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Revenue Recognition

6 Months Ended

Jun. 29, 2019

Revenue Recognition [Abstract]

Revenue Recognition

Note 2 – Revenue Recognition

Sales returns and allowances accrual activity is shown below:

	Fiscal quarters ended						Six fiscal months ended
	June 29, 2019			June 30, 2018			June 29, 2019			June 30, 2018
Beginning balance	$	37,577		$	32,706		$	42,663		$	36,680
Sales allowances		28,903			25,365			57,114			49,553
Credits issued		(22,270	)		(19,348	)		(55,332	)		(47,798	)
Foreign currency		172			(691	)		(63	)		(403	)
Ending balance	$	44,382		$	38,032		$	44,382		$	38,032

Leases

6 Months Ended

Jun. 29, 2019

Leases [Abstract]

Leases

Note 3 – Leases

The Company leases buildings and machinery and equipment used for manufacturing and/or sales and administrative purposes. The Company is also party to various service, warehousing, and other agreements that it evaluates for potential embedded leases. Substantially all of the Company’s leases are structured and classified as operating leases. As of January 1, 2019, the Company accounts for its leases in accordance with ASC Topic 842.

The Company leases assets in each region in which it operates. The Company’s leases are generally denominated in the currency of the leased assets' location, which may not be the functional currency of the subsidiary lessee. Accordingly, the Company remeasures its lease liability and recognizes a transactional gain/loss for leases denominated in currencies other than the functional currency of the subsidiary lessee.

The Company recognizes right of use assets and lease liabilities for leases greater than twelve months in duration based on the contract consideration for lease components through the term of the lease and the applicable discount rate. Leases with a duration less than or equal to twelve months are considered short-term leases. The Company does not recognize right of use assets or lease liabilities for short-term leases and classifies the expense as short-term lease expense. Variable lease payments based on an index or rate are included in the right of use assets and lease liabilities based on the effective rates at lease commencement. Changes in the rates or indices do not impact the right of use asset or lease liability and are recognized as a component of lease expense in the statement of operations. Variable lease payments not based on an index or rate are not included in the initial right of use asset and lease liability and are recognized when incurred as a component of lease expense in the statement of operations.

The Company has elected to not separate contract consideration for lease and non-lease components for its building leases. In addition to the noncancellable period of a lease, the Company includes periods covered by extension options it is reasonably certain to exercise, termination options that it is reasonably certain not to exercise, and extension and termination options controlled by the lessor in its determination of the lease term. The Company uses the rate implicit in the contract whenever possible when determining the applicable discount rate. When the implicit rate is not used, the Company employs a portfolio approach based on the duration of the lease. The portfolio lease rates are calculated monthly.

No individual lease is considered significant and there are no leases that have not yet commenced that are considered significant.

The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheet for the Company's operating leases as of June 29, 2019 and the net right of use assets and lease liabilities recognized upon the adoption of ASC Topic 842 on January 1, 2019 are presented below:

	June 29, 2019		January 1, 2019
Right of use assets
Operating Leases
Buildings and improvements	$	90,989	$	86,058
Machinery and equipment		5,147		5,404
Total	$	96,136	$	91,462
Current lease liabilities
Operating Leases
Buildings and improvements	$	12,676	$	10,644
Machinery and equipment		2,647		3,317
Total	$	15,323	$	13,961
Long-term lease liabilities
Operating Leases
Buildings and improvements	$	83,604	$	79,000
Machinery and equipment		2,482		2,823
Total	$	86,086	$	81,823
Total lease liabilities	$	101,409	$	95,784

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 quarter ended June 29, 2019		Six fiscal months ended June 29, 2019
Lease expense
Operating lease expense	$	5,627	$	11,163
Short-term lease expense		819		1,652
Variable lease expense		9		21
Total lease expense	$	6,455	$	12,836

The Company paid $10,277 for its operating leases in the six fiscal months ended June 29, 2019, which are included in operating cash flows on the consolidated condensed statement of cash flows. The weighted-average remaining lease term for the Company's operating leases is 9.2 years and the weighted-average discount rate is 6.1% as of June 29, 2019.

The undiscounted future lease payments for the Company's operating lease liabilities are as follows:

	June 29, 2019
2019 (excluding the six fiscal months ended June 29, 2019)	$	11,095
2020		19,294
2021		16,198
2022		13,408
2023		12,387
Thereafter		61,246

The undiscounted future lease payments presented in the table above include payments through the term of the lease, which may include periods beyond the noncancellable term. The difference between the total payments above and the lease liability balance is due to the discount rate used to calculate lease liabilities.

The Company elected to use the package of practical expedients available in ASC Topic 842; and accordingly, did not reassess existing contracts for leases, the classification of existing leases, or initial direct costs for any existing leases. The Company also elected to use the practical expedient available in ASC Topic 842 for land easements.

The Company did not elect the practical expedient available in ASC Topic 842 to use hindsight in determining the lease term. Accordingly, the remaining lease term as of January 1, 2019 was used to calculate the initial right of use asset and lease liability.

Acquisition Activities	6 Months Ended
Acquisition Activities	Jun. 29, 2019
Acquisition Activities [Abstract]
Acquisition Activities	Note 4 – Acquisition Activities As part of its growth strategy, the Company seeks to expand through targeted acquisitions of other manufacturers of electronic components that have established positions in major markets, reputations for product quality and reliability, and product lines with which the Company has substantial marketing and technical expertise. On January 3, 2019, the Company acquired substantially all of the assets of Bi-Metallix, Inc. ("Bi-Metallix"), a U.S.-based, privately-held provider of electron beam continuous strip welding services for $11,862. The Company was a major customer of Bi-Metallix, and the acquired business is being vertically integrated into the Company's Resistors & Inductors segment. Based on an estimate of their fair values, the Company allocated $2,900 of the purchase price to definite-lived intangible assets. After allocating the purchase price to the assets acquired and liabilities assumed based on an estimation of their fair values at the date of acquisition, the Company recorded goodwill of $3,324 related to this acquisition. The results and operations of this acquisition have been included in the Resistors & Inductors segment since January 3, 2019. The inclusion of this acquisition did not have a material impact on the Company's consolidated results for the fiscal quarter and six fiscal months ended June 29, 2019. The goodwill related to this acquisition is included in the Resistors & Inductors reporting unit for goodwill impairment testing. Had this acquisition occurred as of the beginning of the periods presented in these consolidated condensed financial statements, the pro forma statements of operations would not be materially different than the consolidated condensed statements of operations presented. The remaining fluctuation in the goodwill account balance is due to foreign currency translation.

Income Taxes	6 Months Ended
Income Taxes	Jun. 29, 2019
Income Taxes [Abstract]
Income Taxes	Note 5 – 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 June 29, 2019 and June 30, 2018 reflect the Company’s expected tax rate on reported income from continuing operations 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 Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates. During the second fiscal quarter of 2019, the Company repatriated approximately $73,590 to the United States, and paid withholding and foreign taxes of $20,479. The Company expects to repatriate an additional approximately $104,000 to the United States in the third fiscal quarter of 2019, net of withholding and foreign taxes of about $15,000. Substantially all of these amounts will be used to repay certain intercompany indebtedness, to pay the U.S. transition tax, and to fund capital expansion projects. After completing these phases of cash repatriation, there will be approximately $100,000 of unremitted foreign earnings remaining that the Company has deemed not permanently reinvested and thus has accrued foreign withholding and other taxes. The Company continues to evaluate the timing of the reparation of these remaining amounts, and may decide to ultimately not repatriate some of these amounts. As part of the Company’s cash repatriation activity, the Company settled an intercompany loan, which previously had been accounted for at the historical foreign exchange rate (akin to an equity contribution) because the debtor entity did not have the intent or ability to repay such intercompany loan. Currency translation adjustments were recorded in accumulated other comprehensive income, and were not included in U.S. GAAP pre-tax income. The Company’s cash repatriation activity resulted in the ability to repay such intercompany loan. Upon settlement of this intercompany loan, the foreign entity realized a taxable gain. Income tax expense for the fiscal quarter and six fiscal months ended June 29, 2019 includes tax expense of $7,554 related to this tax-basis foreign exchange gain. The Company’s repurchase of a portion of the outstanding convertible debentures in the first fiscal quarter of 2019 (see Note 6) slightly reduced the Company’s expected 2019 tax rate. The Company recognized a tax benefit on the pre-tax loss on early extinguishment of debt. The Company also recognized a tax benefit of $1,312, reflecting the reduction in deferred tax liabilities related to the special tax attributes of the extinguished debentures. Income tax expense for the fiscal quarter and six fiscal months ended June 29, 2019, includes tax benefit of $48 and $633, respectively, for the periodic remeasurement of the deferred tax liability recorded for the foreign taxes associated with the Company's cash repatriation program. During the six fiscal months ended June 29, 2019, the liabilities for unrecognized tax benefits increased by $4,784 on a net basis, principally due to increases for tax positions taken in the current and prior periods and interest, offset by expiration of a statute and payments. Income tax expense for the fiscal quarter and six fiscal months ended June 30, 2018 includes additional tax expense of $12,000 recognized as a result of additional analysis of the impact of the Tax Cuts and Jobs Act completed in the second fiscal quarter of 2018. The Company recognized a tax benefit on the pre-tax loss on early extinguishment of debt in the second fiscal quarter of 2018. The Company also recognized a tax benefit of $33,963, reflecting the reduction in deferred tax liabilities related to the special tax attributes of the extinguished debentures. Income tax expense for the fiscal quarter and six fiscal months ended June 30, 2018 also included tax benefits of $9,006 and $7,690, respectively for the periodic remeasurement of the deferred tax liability recorded for the Company's cash repatriation program.

Long-Term Debt

6 Months Ended

Jun. 29, 2019

Long-Term Debt [Abstract]

Long-Term Debt

Note 6 – Long-Term Debt

Long-term debt consists of the following:

	June 29, 2019			December 31, 2018

Credit facility	$	28,000		$	-
Convertible senior notes, due 2025		502,071			495,203
Convertible senior debentures, due 2040		146			539
Convertible senior debentures, due 2041		8,132			12,812
Convertible senior debentures, due 2042		-			923
Deferred financing costs		(18,486	)		(14,968	)
		519,863			494,509
Less current portion		-			-
	$	519,863		$	494,509

Credit Facility

On June 5, 2019, the Company entered into a new credit agreement with a consortium of banks led by JPMorgan Chase Bank, N.A., as administrative agent, and the lenders (the "New Credit Facility"), which provides an aggregate commitment of $750,000 of revolving loans available until June 5, 2024. The New Credit Facility replaces Vishay’s previous credit agreement that provided for an aggregate commitment of $640,000, and that was scheduled to mature on December 10, 2020. The New 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.

Borrowings under the New Credit Facility bear interest at LIBOR plus an interest margin. The applicable interest margin is based on Vishay's leverage ratio. Based on Vishay's current leverage ratio, borrowings bear interest at LIBOR plus 1.50%, the same as pursuant to the previous credit agreement. Vishay also pays a commitment fee, also based on its leverage ratio, on undrawn amounts. The undrawn commitment fee, based on Vishay's current leverage ratio, is 0.25% per annum, an improvement of 5 basis points over the previous credit agreement.

The New Credit Facility allows an unlimited amount of defined “Investments,” which include certain intercompany transactions and acquisitions, provided the Company's pro forma leverage ratio is equal to or less than 2.75 to 1.00. If the Company's pro forma leverage ratio is greater than 2.75 to 1.00, such Investments are subject to certain limitations.

The New Credit Facility also allows an unlimited amount of defined "Restricted Payments," which include cash dividends and share repurchases, provided the Company's pro forma leverage ratio is equal to or less than 2.50 to 1.00. If the Company's pro forma leverage ratio is greater than 2.50 to 1.00, the New 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 $25,000 of any unused amount of the $100,000 per annum base available for use in the next succeeding calendar year).

Similar to the previous credit agreement, the borrowings under the New Credit Facility are secured by a lien on substantially all assets, including accounts receivable, inventory, machinery and equipment, and general intangibles (but excluding real estate, intellectual property registered or licensed solely for use in, or arising solely under the laws of, any country other than the United States, assets located solely outside of the United States and deposit and securities accounts), of Vishay and certain significant subsidiaries located in the United States, and pledges of stock in certain significant domestic and foreign subsidiaries; and are guaranteed by certain significant subsidiaries.

The New Credit Facility continues to limit or restrict the Company and its subsidiaries, from, among other things, incurring indebtedness, incurring liens on its respective assets, making investments and acquisitions (assuming the Company’s pro forma leverage ratio is greater than 2.75 to 1.00), making asset sales, and paying cash dividends and making other restricted payments (assuming the Company's pro forma leverage ratio is greater than 2.50 to 1.00), and requires the Company to comply with other covenants, including the maintenance of specific financial ratios.

Similar to the previous credit agreement, the New Credit Facility also contains customary events of default, including, but not limited to, failure to pay principal or interest, failure to pay or default under other material debt, material misrepresentation or breach of warranty, violation of certain covenants, a change of control, the commencement of bankruptcy proceedings, the insolvency of Vishay or certain of its significant subsidiaries, and the rendering of a judgment in excess of $50,000 against Vishay or its subsidiaries. Upon the occurrence of an event of default under the New Credit Facility, Vishay's obligations under the credit facility may be accelerated and the lending commitments under the credit facility may be terminated.

Convertible Debt Instruments

The following table summarizes some key facts and terms regarding the outstanding convertible debt instruments as of June 29, 2019:

	Convertible Senior Notes Due 2025			Convertible Senior Debentures Due 2040			Convertible Senior Debentures Due 2041
Issuance date	June 12, 2018			November 9, 2010			May 13, 2011
Maturity date	June 15, 2025			November 15, 2040			May 15, 2041
Principal amount as of June 29, 2019	$	600,000		$	350		$	20,790
Cash coupon rate (per annum)		2.25	%		2.25	%		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		5.50	%		8.00	%		8.375	%
Conversion rate effective June 12, 2019 (per $1 principal amount)		31.7738			79.1822			57.7830
Effective conversion price effective June 12, 2019 (per share)	$	31.47		$	12.63		$	17.31
130% of the conversion price (per share)	$	40.91		$	16.42		$	22.50
Call date		n/a		November 20, 2020			May 20, 2021

The terms of the convertible senior debentures due 2040 and due 2041 are generally congruent. The terms of the fully retired convertible senior debentures due 2042 were also generally congruent to the convertible senior debentures due 2040 and due 2041.

Prior to three months before the maturity date, the holders may convert their convertible senior debentures due 2040 and due 2041 only under the following circumstances: (1) during any fiscal quarter after the first full quarter subsequent to issuance, if the sale price of Vishay common stock reaches 130% of the conversion price for a specified period; (2) the trading price of the debentures falls below 98% of the product of the sale price of Vishay's common stock and the conversion rate for a specified period; (3) Vishay calls any or all of the debentures for redemption, at any time prior to the close of business on the third scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events.

Prior to December 15, 2024, the holders of the convertible senior notes due 2025 may convert their notes only under the following circumstances: (1) during any fiscal quarter after the fiscal quarter ending September 29, 2018, if the sale price of Vishay common stock reaches 130% of the conversion price for a specified period (initially $40.94); (2) the trading price of the notes falls below 98% of the product of the sale price of Vishay's common stock and the conversion rate for a specified period; or (3) upon the occurrence of specified corporate transactions.

The convertible senior debentures due 2040 became convertible subsequent to the September 30, 2017 evaluation of the conversion criteria, and remained convertible for each subsequent quarterly evaluation through the June 29, 2019 evaluation, due to the sale price of Vishay's common stock exceeding 130% of the conversion price for the applicable periods. The convertible senior debentures due 2040 are not currently convertible.

The quarterly cash dividend program of the Company results in adjustments to the conversion rate and effective conversion price for the convertible debt instruments effective as of the ex-dividend date of each cash dividend. The conversion rate and effective conversion price for the convertible senior notes due 2025 is adjusted for quarterly cash dividends to the extent such dividends exceed $0.085 per share of common stock.

GAAP requires an issuer to separately account for the liability and equity components of the instrument in a manner that reflects the issuer’s nonconvertible debt borrowing rate when interest costs are recognized in subsequent periods. The resulting discount on the debt is amortized as non-cash interest expense in future periods.

The carrying values of the liability and equity components of the convertible debt instruments are reflected in the Company’s consolidated condensed balance sheets as follows:

	Principal amount of the debt instruments		Unamortized discount			Embedded derivative		Carrying value of liability component		Equity component (including temporary equity) -net carrying value
June 29, 2019
Convertible senior notes due 2025	$	600,000		(97,929	)		-	$	502,071	$	85,262
Convertible senior debentures due 2040 and due 2041	$	21,140		(12,882	)		20	$	8,278	$	8,767
Total	$	621,140	$	(110,811	)	$	20	$	510,349	$	94,029

December 31, 2018
Convertible senior notes due 2025	$	600,000		(104,797	)		-	$	495,203	$	85,262
Convertible senior debentures due 2040, due 2041, and due 2042	$	36,556		(22,352	)		70	$	14,274	$	15,092
Total	$	636,556	$	(127,149	)	$	70	$	509,477	$	100,354

Interest is payable on the convertible debt instruments semi-annually at the cash coupon rate; however, the remaining debt discount is being amortized as additional non-cash interest expense using an effective annual interest rate equal to the Company’s estimated nonconvertible debt borrowing rate at the time of issuance. In addition to ordinary interest, contingent interest will accrue in certain circumstances relating to the trading price of the convertible senior debentures due 2040 and due 2041 and under certain other circumstances, beginning ten years subsequent to their respective issuance. The convertible senior notes due 2025 do not possess contingent interest features.

Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the fiscal quarters ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debt instruments
June 29, 2019
Convertible senior notes due 2025	$	3,375		3,442		454		-		$	7,271
Convertible senior debentures	$	119		53		2		(4	)	$	170
Total	$	3,494	$	3,495	$	456	$	(4	)	$	7,441

June 30, 2018
Convertible senior notes due 2025	$	713		556		151		-		$	1,420
Convertible senior debentures	$	2,692		1,099		39		(156	)	$	3,674
Total	$	3,405	$	1,655	$	190	$	(156	)	$	5,094

Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the six fiscal months ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debt instruments
June 29, 2019
Convertible senior notes due 2025	$	6,750		6,868		908		-		$	14,526
Convertible senior debentures due 2040 and due 2041	$	267		117		4		(22	)	$	366
Total	$	7,017	$	6,985	$	912	$	(22	)	$	14,892

June 30, 2018
Convertible senior notes due 2025	$	713		556		151		-		$	1,420
Convertible senior debentures due 2040 and due 2041	$	5,927		2,408		86		5		$	8,426
Total	$	6,640	$	2,964	$	237	$	5		$	9,846

The Company used cash to repurchase $960, $12,288 and $2,168 principal amounts of convertible senior debentures due 2040, due 2041, and due 2042, respectively, in the first fiscal quarter of 2019. The net carrying value of the debentures repurchased were $396, $4,770, and $924, respectively. In accordance with the authoritative accounting guidance for convertible debentures, the aggregate repurchase payment of $22,695 was allocated between the liability ($7,311) and equity (including temporary equity, $15,384) components of the convertible debentures, using the Company's nonconvertible debt borrowing rate at the time of the repurchase. As a result, the Company recognized a loss on extinguishment of convertible debentures of $1,307, including the write-off of a portion of unamortized debt issuance costs. The convertible senior debentures due 2042 have been fully repurchased, and the trustee has confirmed that the Company has satisfied and discharged its obligations under the indenture governing the convertible senior debentures due 2042.

Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 29, 2019

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7 – Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

	Pension and other post- retirement actuarial items			Currency translation adjustment			Total
Balance at January 1, 2019	$	(58,291	)	$	51,500		$	(6,791	)
Other comprehensive income before reclassifications		-			(2,605	)	$	(2,605	)
Tax effect		-			-		$	-
Other comprehensive income before reclassifications, net of tax		-			(2,605	)	$	(2,605	)
Amounts reclassified out of AOCI		4,107			-		$	4,107
Tax effect		(1,027	)		-		$	(1,027	)
Amounts reclassified out of AOCI, net of tax		3,080			-		$	3,080
Net other comprehensive income	$	3,080		$	(2,605	)	$	475
Balance at June 29, 2019	$	(55,211	)	$	48,895		$	(6,316	)

Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost. See Note 8 for further information.

Pensions and Other Postretirement Benefits

6 Months Ended

Jun. 29, 2019

Pensions and Other Postretirement Benefits [Abstract]

Pensions and Other Postretirement Benefits

Note 8 – Pensions and Other Postretirement Benefits

The Company maintains various retirement benefit plans.

Defined Benefit Pension Plans

The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2019 and 2018 for the Company’s defined benefit pension plans:

	Fiscal quarter ended June 29, 2019					Fiscal quarter ended June 30, 2018
	U.S. Plans		Non-U.S. Plans			U.S. Plans		Non-U.S. Plans

Net service cost	$	-	$	845		$	-	$	927
Interest cost		424		1,281			371		1,211
Expected return on plan assets		-		(489	)		-		(479	)
Amortization of prior service cost		36		50			36		54
Amortization of losses		118		1,344			159		1,566
Curtailment and settlement losses		-		500			-		455
Net periodic benefit cost	$	578	$	3,531		$	566	$	3,734

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 29, 2019 and June 30, 2018 for the Company’s defined benefit pension plans:

	Six fiscal months ended June 29, 2019					Six fiscal months ended June 30, 2018
	U.S. Plans		Non-U.S. Plans			U.S. Plans		Non-U.S. Plans

Net service cost	$	-	$	1,697		$	-	$	1,875
Interest cost		848		2,572			742		2,453
Expected return on plan assets		-		(979	)		-		(967	)
Amortization of prior service cost		72		101			72		109
Amortization of losses		236		2,703			318		3,170
Curtailment and settlement losses		-		1,005			-		917
Net periodic benefit cost	$	1,156	$	7,099		$	1,132	$	7,557

Other Postretirement Benefits

The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2019 and 2018 for the Company’s other postretirement benefit plans:

	Fiscal quarter ended June 29, 2019					Fiscal quarter ended June 30, 2018
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans

Service cost	$	35		$	72	$	34		$	73
Interest cost		78			30		68			28
Amortization of prior service (credit)		-			-		(37	)		-
Amortization of losses (gains)		(32	)		27		(9	)		27
Net periodic benefit cost	$	81		$	129	$	56		$	128

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 29, 2019 and June 30, 2018 for the Company’s other postretirement benefit plans:

	Six fiscal months ended June 29, 2019					Six fiscal months ended June 30, 2018
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans

Service cost	$	70		$	144	$	68		$	148
Interest cost		155			60		136			58
Amortization of prior service (credit)		-			-		(74	)		-
Amortization of losses (gains)		(64	)		54		(19	)		54
Net periodic benefit cost	$	161		$	258	$	111		$	260

Stock-Based Compensation

6 Months Ended

Jun. 29, 2019

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Note 9 – Stock-Based Compensation

The Company has various stockholder-approved programs which allow for the grant of stock-based compensation to officers, employees, and non-employee directors of the Company.

The amount of compensation cost related to stock-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. The Company determines compensation cost for restricted stock units (“RSUs”) and phantom stock units based on the grant-date fair value of the underlying common stock adjusted for expected dividends paid over the required vesting period for non-participating awards. Compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award.

The following table summarizes stock-based compensation expense recognized:

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018

Restricted stock units	$	890	$	778	$	4,249		3,047
Phantom stock units		-		-		177		214
Total	$	890	$	778	$	4,426		3,261

The Company recognizes compensation cost for RSUs that are expected to vest and records cumulative adjustments in the period that the expectation changes.

The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at June 29, 2019 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods

Restricted stock units	$	4,779		0.9
Phantom stock units		-		0.0
Total	$	4,779

The Company currently expects all performance-based RSUs to vest and all of the associated unrecognized compensation cost for performance-based RSUs presented in the table above to be recognized.

2007 Stock Incentive Plan

The Company’s 2007 Stock Incentive Program (the “2007 Program”), as amended and restated, permits the grant of up to 6,500,000 shares of restricted stock, unrestricted stock, RSUs, stock options, and phantom stock units, to officers, employees, and non-employee directors of the Company. Such instruments are available for grant until May 20, 2024.

Restricted Stock Units

RSU activity under the 2007 Program as of June 29, 2019 and changes during the six 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, 2019		904		$	14.77
Granted		314			19.85
Vested*		(361	)		11.70
Cancelled or forfeited		(15	)		17.71
Outstanding at June 29, 2019		842		$	17.93

Expected to vest at June 29, 2019		842

* The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance criteria between the established target and maximum levels. RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands):

Vesting Date	Expected to Vest		Not Expected to Vest		Total
January 1, 2020		167		-		167
January 1, 2021		141		-		141
January 1, 2022		174		-		174

Phantom Stock Units

The 2007 Program authorizes the grant of phantom stock units to the extent provided for in the Company’s employment agreements with certain executives. Each phantom stock unit entitles the recipient to receive a share of common stock at the individual’s termination of employment or any other future date specified in the applicable employment agreement. Phantom stock units participate in dividend distribution on the same basis as the Company's common stock and Class B common stock. Dividend equivalents are issued in the form of additional units of phantom stock. The phantom stock units are fully vested at all times.

Phantom stock unit activity under the phantom stock plan as of June 29, 2019 and changes during the six fiscal months then ended are presented below (number of phantom stock units in thousands):

	Number of units		Grant-date Fair Value per Unit
Outstanding:
January 1, 2019		170
Granted		10	$	17.72
Dividend equivalents issued		2
Outstanding at June 29, 2019		182

Segment Information

6 Months Ended

Jun. 29, 2019

Segment Information [Abstract]

Segment Information

Note 10 – Segment Information

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, five 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 and inductors both impede electric current. 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 medical end markets. A small portion of revenues is from royalties.

The Company evaluates business segment performance on operating income, exclusive of certain items (“segment operating income”). Only dedicated, direct selling, general, and administrative expenses of the segments are included in the calculation of segment operating income. The Company’s calculation of segment operating income excludes such selling, general, and administrative costs as global operations, sales and marketing, information systems, finance and administration groups, as well as restructuring and severance costs, goodwill and long-lived asset impairment charges, and other items. Management believes that evaluating segment performance excluding such items is meaningful because it provides insight with respect to intrinsic operating results of the Company. These items represent reconciling items between segment operating income and consolidated operating income. Business segment assets are the owned or allocated assets used by each business.

The Company also regularly evaluates gross profit by segment to assist in the analysis of consolidated gross profit. The Company considers segment operating income to be the more important metric because it more fully captures the business operations of the segments.

The following tables set forth business segment information:

	MOSFETs		Diodes		Optoelectronic Components		Resistors & Inductors		Capacitors		Total
Fiscal quarter ended June 29, 2019:
Net revenues	$	128,842	$	142,042	$	60,675	$	242,383	$	111,298	$	685,240

Gross profit	$	31,933	$	28,857	$	16,231	$	71,415	$	26,165	$	174,601

Segment operating income	$	22,541	$	24,010	$	12,022	$	63,443	$	21,161	$	143,177

Fiscal quarter ended June 30, 2018:
Net revenues	$	136,559	$	182,466	$	75,709	$	253,947	$	112,349	$	761,030

Gross profit	$	38,427	$	52,408	$	26,404	$	84,969	$	25,030	$	227,238

Segment operating income	$	28,517	$	47,100	$	22,165	$	76,248	$	19,710	$	193,740

Six fiscal months ended June 29, 2019:
Net revenues	$	266,183	$	309,882	$	121,237	$	502,854	$	230,243	$	1,430,399

Gross Profit	$	67,992	$	72,349	$	32,248	$	157,284	$	55,887	$	385,760

Segment Operating Income	$	49,219	$	62,138	$	23,732	$	140,430	$	45,727	$	321,246

Six fiscal months ended June 30, 2018:
Net revenues	$	264,065	$	349,483	$	147,667	$	497,993	$	218,617	$	1,477,825

Gross Profit	$	70,449	$	95,608	$	53,637	$	163,499	$	49,345	$	432,538

Segment Operating Income	$	51,075	$	85,031	$	44,959	$	146,250	$	38,603	$	365,918

	Fiscal quarters ended						Six fiscal months ended
	June 29, 2019			June 30, 2018			June 29, 2019			June 30, 2018
Reconciliation:
Segment Operating Income	$	143,177		$	193,740		$	321,246		$	365,918
Unallocated Selling, General, and Administrative Expenses		(63,688	)		(70,447	)		(134,022	)		(138,563	)
Consolidated Operating Income	$	79,489		$	123,293		$	187,224		$	227,355
Unallocated Other Income (Expense)		(8,601	)		(25,734	)		(16,388	)		(37,777	)
Consolidated Income Before Taxes	$	70,888		$	97,559		$	170,836		$	189,578

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:

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Distributors	$	368,420	$	446,016	$	779,980	$	850,076
OEMs		269,026		262,779		551,662		526,829
EMS companies		47,794		52,235		98,757		100,920
Total Revenue	$	685,240	$	761,030	$	1,430,399	$	1,477,825

Net revenues were attributable to customers in the following regions:

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Asia	$	246,193	$	302,868	$	505,919	$	588,346
Europe		254,742		272,601		533,641		539,983
Americas		184,305		185,561		390,839		349,496
Total Revenue	$	685,240	$	761,030	$	1,430,399	$	1,477,825

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				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Industrial	$	250,783	$	295,617	$	532,373	$	575,829
Automotive		200,580		209,858		415,366		418,252
Telecommunications		44,562		46,467		97,842		92,391
Computing		48,244		53,657		95,752		101,088
Consumer Products		30,486		40,939		64,535		78,198
Power Supplies		29,474		41,326		59,601		75,569
Military and Aerospace		47,848		40,260		95,409		75,474
Medical		33,263		32,906		69,521		61,024
Total revenue	$	685,240	$	761,030		1,430,399		1,477,825

Earnings Per Share

6 Months Ended

Jun. 29, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Note 11 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share attributable to Vishay stockholders (shares in thousands):

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018

Numerator:
Net earnings attributable to Vishay stockholders	$	44,477	$	103,097	$	119,936	$	165,463

Denominator:
Denominator for basic earnings per share:
Weighted average shares		144,441		144,215		144,409		144,188
Outstanding phantom stock units		180		167		180		167
Adjusted weighted average shares		144,621		144,382		144,589		144,355

Effect of dilutive securities:
Convertible and exchangeable debt instruments		24		12,810		131		13,710
Restricted stock units		378		465		438		515
Dilutive potential common shares		402		13,275		569		14,225

Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		145,023		157,657		145,158		158,580

Basic earnings per share attributable to Vishay stockholders	$	0.31	$	0.71	$	0.83	$	1.15

Diluted earnings per share attributable to Vishay stockholders	$	0.31	$	0.65	$	0.83	$	1.04

Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares that would have an antidilutive effect or have unsatisfied performance conditions (in thousands):

	Fiscal quarters ended		Six fiscal months ended
	June 29, 2019	June 30, 2018	June 29, 2019	June 30, 2018
Convertible debt instruments:
Convertible Senior Notes, due 2025	19,055	3,769	19,053	1,885
Weighted average other	315	307	315	307

The Company’s convertible debt instruments are only convertible for specified periods upon the occurrence of certain events. The convertible debentures due 2040 became convertible subsequent to the September 30, 2017 evaluation of the conversion criteria, and remained convertible for each subsequent quarterly evaluation prior to the June 29, 2019 evaluation. The Company's convertible debt instruments are not currently convertible. In periods that the convertible debt instruments are not convertible, the certain conditions which could trigger conversion of the debt instruments have been deemed to be non-substantive, and accordingly, the Company assumes the conversion of these instruments in its diluted earnings per share computation during periods in which they are dilutive.

At the direction of its Board of Directors, the Company intends, upon conversion, to repay the principal amounts of any of the convertible debt instruments in cash and settle any additional amounts in shares of Vishay common stock. Accordingly, the convertible instruments are included in the diluted earnings per share computation using the “treasury stock method” (similar to options and warrants) rather than the “if converted method” otherwise required for convertible debt. Under the “treasury stock method,” Vishay calculates the number of shares issuable under the terms of the debentures based on the average market price of Vishay common stock during the period, and that number is included in the total diluted shares figure for the period. If the average market price is less than $12.63, no shares are included in the diluted earnings per share computation for the convertible senior debentures due 2040, if the average market price is less than $17.31, no shares are included in the diluted earnings per share computation for the convertible senior debentures due 2041, and if the average market price is less than $31.47, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025.

Fair Value Measurements

6 Months Ended

Jun. 29, 2019

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 12 – Fair Value Measurements

The fair value measurement accounting guidance establishes a valuation hierarchy of the inputs used to measure fair value. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Level 3: Unobservable inputs that reflect the Company’s own assumptions.

An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented.

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
June 29, 2019
Assets:
Assets held in rabbi trusts	$	49,615		$	32,786	$	16,829	$	-
Available for sale securities	$	4,431			4,431		-		-
	$	54,046		$	37,217	$	16,829	$	-
Liabilities:
Embedded derivative - convertible debentures due 2040	$	-		$	-	$	-	$	-
Embedded derivative - convertible debentures due 2041	$	(20	)		-		-		(20	)
	$	(20	)	$	-	$	-	$	(20	)
December 31, 2018
Assets:
Assets held in rabbi trusts	$	41,770		$	26,278		15,492	$	-
Available for sale securities	$	4,309			4,309		-		-
	$	46,079		$	30,587	$	15,492	$	-
Liabilities:
Embedded derivative - convertible debentures due 2040	$	(1	)	$	-	$	-	$	(1	)
Embedded derivative - convertible debentures due 2041	$	(67	)		-		-		(67	)
Embedded derivative - convertible debentures due 2042	$	(2	)		-		-		(2	)
	$	(70	)	$	-	$	-	$	(70	)

As described in Note 6, the Company allocated the aggregate repurchase payment of convertible senior debentures between the associated liability and equity components of the repurchased convertible senior debentures based on a nonrecurring fair value measurement of the convertible senior debentures due 2040, due 2041, and due 2042 immediately prior to the repurchase. The nonrecurring fair value measurement is considered a Level 3 measurement. See Note 6 for further information on the measurement and input.

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 Company’s 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 measurement and the measurement of the company-owned life insurance assets is considered a Level 2 measurement within the fair value hierarchy.

The Company holds investments in equity securities that are intended to fund a portion of its pension and other postretirement benefit obligations outside of the United States. The investments are valued based on quoted market prices on the last business day of the period. The fair value measurement of the investments is considered a Level 1 measurement within the fair value hierarchy.

The convertible senior debentures due 2040 and due 2041 contain embedded derivative features that GAAP requires to be bifurcated and remeasured each reporting period. Each quarter, the change in the fair value of the embedded derivative features, if any, is recorded in the consolidated condensed statements of operations. The Company uses a derivative valuation model to derive the value of the embedded derivative features. Key inputs into this valuation model are the Company’s current stock price, risk-free interest rates, the stock dividend yield, the stock volatility, and the debentures’ credit spread over LIBOR. The first three aforementioned inputs are based on observable market data and are considered Level 2 inputs while the last two aforementioned inputs are unobservable and thus require management’s judgment and are considered Level 3 inputs. The fair value measurement is considered a Level 3 measurement within the fair value hierarchy.

The fair value of the long-term debt, excluding the derivative liabilities and deferred financing costs, at June 29, 2019 and December 31, 2018 is approximately $610,600 and $577,200, respectively, compared to its carrying value, excluding the derivative liabilities and deferred financing costs, of $538,329 and $509,407, respectively. The Company estimates the fair value of its long-term debt using a combination of quoted market prices for similar financing arrangements and expected future payments discounted at risk-adjusted rates, which are considered Level 2 inputs.

At June 29, 2019 and December 31, 2018, the Company’s short-term investments were comprised of time deposits with financial institutions that have maturities that exceed 90 days from the date of acquisition; however they all mature within one year from the respective balance sheet dates. The Company's short-term investments are accounted for as held-to-maturity debt instruments, at amortized cost, which approximates their fair value. The investments are funded with excess cash not expected to be needed for operations prior to maturity; therefore, the Company believes it has the intent and ability to hold the short-term investments until maturity. At each reporting date, the Company performs an evaluation to determine if any unrealized losses are other-than-temporary. No other-than-temporary impairments have been recognized on these securities, and there are no unrecognized holding gains or losses for these securities during the periods presented. There have been no transfers to or from the held-to-maturity classification. All decreases in the account balance are due to returns of principal at the securities’ maturity dates. Interest on the securities is recognized as interest income when earned.

At June 29, 2019 and December 31, 2018, the Company’s cash and cash equivalents were comprised of demand deposits, time deposits with maturities of three months or less when purchased, and money market funds. The Company estimates the fair value of its cash, cash equivalents, and short-term investments using level 2 inputs. Based on the current interest rates for similar investments with comparable credit risk and time to maturity, the fair value of the Company's cash, cash equivalents, and held-to-maturity short-term investments approximate the carrying amounts reported in the consolidated condensed balance sheets.

The Company’s financial instruments also include accounts receivable, short-term notes payable, and accounts payable. The carrying amounts for these financial instruments reported in the consolidated condensed balance sheets approximate their fair values.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restructuring and Related Activities	6 Months Ended
Restructuring and Related Activities	Jun. 29, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities	Note 13 – Restructuring and Related Activities Subsequent Events On July 29, 2019, the Company announced global cost reduction and management rejuvenation programs as part of its continuous efforts to improve efficiency and operating performance. The programs are primarily designed to reduce manufacturing fixed costs and selling, general, and administrative costs company-wide, and provide management rejuvenation. The Company expects to incur charges of approximately $25,000, primarily related to cash severance costs, to implement these programs. The Company expects these cost reductions to be fully achieved by December 2020.

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jun. 29, 2019
Basis of Presentation [Abstract]
Fiscal Period, Policy	The Company reports interim financial information for 13-week periods beginning on a Sunday and ending on a Saturday, except for the first fiscal quarter, which always begins on January 1, and the fourth fiscal quarter, which always ends on December 31. The four fiscal quarters in 2019 end on March 30, 2019, June 29, 2019, September 28, 2019, and December 31, 2019, respectively. The four fiscal quarters in 2018 ended on March 31, 2018, June 30, 2018, September 29, 2018, and December 31, 2018, respectively.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842). The ASU is the result of a project between the FASB and the International Accounting Standards Board to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The guidance in ASU No. 2016-02 and all related ASUs is codified in Accounting Standard Codification (“ASC”) Topic 842, Leases. The Company adopted ASC Topic 842 effective January 1, 2019. Upon adoption at January 1, 2019, the Company recognized right of use assets of $91,462 and lease liabilities of $95,784 on the consolidated balance sheet. The difference between the initial right of use asset and lease liability balances recognized upon adoption of ASC Topic 842 is primarily due to accrued lease incentive balances at December 31, 2018. On December 20, 2018, the Company received sale proceeds of $45,500 and concurrently leased-back its former manufacturing site in Santa Clara, California, under a short-term arrangement, to raze the buildings. Upon adoption of ASC Topic 842, the Company was required to reassess the accounting for these transactions. The transactions did not qualify as a completed sale and leaseback under previous GAAP. However, pursuant to ASC Topic 842’s sale and leaseback guidance, the transaction would qualify as a completed sale. The Company recognized a cumulative-effect adjustment to retained earnings (accumulated deficit) of $23,013, to recognize the sale as of the date of adoption, and derecognized the land, building, and related deferred proceeds, which had been recorded in other accrued expenses. The adoption of the ASU did not have a material impact on the Company's results of operations or cash flows. See Note 3.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The ASU is effective for the Company for interim and annual periods beginning on or after January 1, 2020, with the ability to early adopt for interim and annual periods beginning on or after January 1, 2019. The Company is currently evaluating the effect of the ASU on its financial assets measured at amortized cost.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Leases (Policies)	6 Months Ended
Leases (Policies)	Jun. 29, 2019
Leases [Abstract]
Leases	The Company leases buildings and machinery and equipment used for manufacturing and/or sales and administrative purposes. The Company is also party to various service, warehousing, and other agreements that it evaluates for potential embedded leases. Substantially all of the Company’s leases are structured and classified as operating leases. As of January 1, 2019, the Company accounts for its leases in accordance with ASC Topic 842. The Company leases assets in each region in which it operates. The Company’s leases are generally denominated in the currency of the leased assets' location, which may not be the functional currency of the subsidiary lessee. Accordingly, the Company remeasures its lease liability and recognizes a transactional gain/loss for leases denominated in currencies other than the functional currency of the subsidiary lessee. The Company recognizes right of use assets and lease liabilities for leases greater than twelve months in duration based on the contract consideration for lease components through the term of the lease and the applicable discount rate. Leases with a duration less than or equal to twelve months are considered short-term leases. The Company does not recognize right of use assets or lease liabilities for short-term leases and classifies the expense as short-term lease expense. Variable lease payments based on an index or rate are included in the right of use assets and lease liabilities based on the effective rates at lease commencement. Changes in the rates or indices do not impact the right of use asset or lease liability and are recognized as a component of lease expense in the statement of operations. Variable lease payments not based on an index or rate are not included in the initial right of use asset and lease liability and are recognized when incurred as a component of lease expense in the statement of operations. The Company has elected to not separate contract consideration for lease and non-lease components for its building leases. In addition to the noncancellable period of a lease, the Company includes periods covered by extension options it is reasonably certain to exercise, termination options that it is reasonably certain not to exercise, and extension and termination options controlled by the lessor in its determination of the lease term. The Company uses the rate implicit in the contract whenever possible when determining the applicable discount rate. When the implicit rate is not used, the Company employs a portfolio approach based on the duration of the lease. The portfolio lease rates are calculated monthly. No individual lease is considered significant and there are no leases that have not yet commenced that are considered significant.

Income Taxes (Policies)	6 Months Ended
Income Taxes (Policies)	Jun. 29, 2019
Income Taxes [Abstract]
Effective Income tax Rate Description	The provision for income taxes consists of provisions for federal, state, and foreign income taxes. The effective tax rates for the periods ended June 29, 2019 and June 30, 2018 reflect the Company’s expected tax rate on reported income from continuing operations 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 Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates.

Stock-Based Compensation (Policies)	6 Months Ended
Stock-Based Compensation (Policies)	Jun. 29, 2019
Stock-Based Compensation [Abstract]
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	The amount of compensation cost related to stock-based payment transactions is measured based on the grant-date fair value of the equity instruments issued. The Company determines compensation cost for restricted stock units (“RSUs”) and phantom stock units based on the grant-date fair value of the underlying common stock adjusted for expected dividends paid over the required vesting period for non-participating awards. Compensation cost is recognized over the period that an officer, employee, or non-employee director provides service in exchange for the award.

Segment Information (Policies)

6 Months Ended

Jun. 29, 2019

Segment Information [Abstract]

Segment Reporting, Policy [Policy Text Block]

●		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 and inductors both impede electric current. 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.

Earnings Per Share (Policies)	6 Months Ended
Earnings Per Share (Policies)	Jun. 29, 2019
Earnings Per Share [Abstract]
Discussion on convertible debt included in computation of earnings per share diluted	The Company’s convertible debt instruments are only convertible for specified periods upon the occurrence of certain events. The convertible debentures due 2040 became convertible subsequent to the September 30, 2017 evaluation of the conversion criteria, and remained convertible for each subsequent quarterly evaluation prior to the June 29, 2019 evaluation. The Company's convertible debt instruments are not currently convertible. In periods that the convertible debt instruments are not convertible, the certain conditions which could trigger conversion of the debt instruments have been deemed to be non-substantive, and accordingly, the Company assumes the conversion of these instruments in its diluted earnings per share computation during periods in which they are dilutive. At the direction of its Board of Directors, the Company intends, upon conversion, to repay the principal amounts of any of the convertible debt instruments in cash and settle any additional amounts in shares of Vishay common stock. Accordingly, the convertible instruments are included in the diluted earnings per share computation using the “treasury stock method” (similar to options and warrants) rather than the “if converted method” otherwise required for convertible debt. Under the “treasury stock method,” Vishay calculates the number of shares issuable under the terms of the debentures based on the average market price of Vishay common stock during the period, and that number is included in the total diluted shares figure for the period. If the average market price is less than $12.63, no shares are included in the diluted earnings per share computation for the convertible senior debentures due 2040, if the average market price is less than $17.31, no shares are included in the diluted earnings per share computation for the convertible senior debentures due 2041, and if the average market price is less than $31.47, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025.

Fair Value Measurements (Policies)	6 Months Ended
Fair Value Measurements (Policies)	Jun. 29, 2019
Fair Value Measurements [Abstract]
Fair Value of Financial Instruments, Policy	The fair value measurement accounting guidance establishes a valuation hierarchy of the inputs used to measure fair value. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect the Company’s own assumptions. An asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented.

Revenue Recognition (Tables)

6 Months Ended

Jun. 29, 2019

Revenue Recognition [Abstract]

Schedule of Loss Contingencies by Contingency

Sales returns and allowances accrual activity is shown below:

	Fiscal quarters ended						Six fiscal months ended
	June 29, 2019			June 30, 2018			June 29, 2019			June 30, 2018
Beginning balance	$	37,577		$	32,706		$	42,663		$	36,680
Sales allowances		28,903			25,365			57,114			49,553
Credits issued		(22,270	)		(19,348	)		(55,332	)		(47,798	)
Foreign currency		172			(691	)		(63	)		(403	)
Ending balance	$	44,382		$	38,032		$	44,382		$	38,032

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=118943654&loc=d3e12053-110248

+ Details

Leases (Tables)

6 Months Ended

Jun. 29, 2019

Leases [Abstract]

Right of Use Assets and Lease Liabilities

	June 29, 2019		January 1, 2019
Right of use assets
Operating Leases
Buildings and improvements	$	90,989	$	86,058
Machinery and equipment		5,147		5,404
Total	$	96,136	$	91,462
Current lease liabilities
Operating Leases
Buildings and improvements	$	12,676	$	10,644
Machinery and equipment		2,647		3,317
Total	$	15,323	$	13,961
Long-term lease liabilities
Operating Leases
Buildings and improvements	$	83,604	$	79,000
Machinery and equipment		2,482		2,823
Total	$	86,086	$	81,823
Total lease liabilities	$	101,409	$	95,784

Lease Expense

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 quarter ended June 29, 2019		Six fiscal months ended June 29, 2019
Lease expense
Operating lease expense	$	5,627	$	11,163
Short-term lease expense		819		1,652
Variable lease expense		9		21
Total lease expense	$	6,455	$	12,836

Undiscounted Future Lease Payments for Operating Lease Liabilities

The undiscounted future lease payments for the Company's operating lease liabilities are as follows:

	June 29, 2019
2019 (excluding the six fiscal months ended June 29, 2019)	$	11,095
2020		19,294
2021		16,198
2022		13,408
2023		12,387
Thereafter		61,246

Long-Term Debt (Tables)

6 Months Ended

Jun. 29, 2019

Long-Term Debt [Abstract]

Schedule of long-term debt instruments

Long-term debt consists of the following:

	June 29, 2019			December 31, 2018

Credit facility	$	28,000		$	-
Convertible senior notes, due 2025		502,071			495,203
Convertible senior debentures, due 2040		146			539
Convertible senior debentures, due 2041		8,132			12,812
Convertible senior debentures, due 2042		-			923
Deferred financing costs		(18,486	)		(14,968	)
		519,863			494,509
Less current portion		-			-
	$	519,863		$	494,509

Key terms of the convertible debt instruments

The following table summarizes some key facts and terms regarding the outstanding convertible debt instruments as of June 29, 2019:

	Convertible Senior Notes Due 2025			Convertible Senior Debentures Due 2040			Convertible Senior Debentures Due 2041
Issuance date	June 12, 2018			November 9, 2010			May 13, 2011
Maturity date	June 15, 2025			November 15, 2040			May 15, 2041
Principal amount as of June 29, 2019	$	600,000		$	350		$	20,790
Cash coupon rate (per annum)		2.25	%		2.25	%		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		5.50	%		8.00	%		8.375	%
Conversion rate effective June 12, 2019 (per $1 principal amount)		31.7738			79.1822			57.7830
Effective conversion price effective June 12, 2019 (per share)	$	31.47		$	12.63		$	17.31
130% of the conversion price (per share)	$	40.91		$	16.42		$	22.50
Call date		n/a		November 20, 2020			May 20, 2021

Liability and equity of component of convertible debt instruments

The carrying values of the liability and equity components of the convertible debt instruments are reflected in the Company’s consolidated condensed balance sheets as follows:

	Principal amount of the debt instruments		Unamortized discount			Embedded derivative		Carrying value of liability component		Equity component (including temporary equity) -net carrying value
June 29, 2019
Convertible senior notes due 2025	$	600,000		(97,929	)		-	$	502,071	$	85,262
Convertible senior debentures due 2040 and due 2041	$	21,140		(12,882	)		20	$	8,278	$	8,767
Total	$	621,140	$	(110,811	)	$	20	$	510,349	$	94,029

December 31, 2018
Convertible senior notes due 2025	$	600,000		(104,797	)		-	$	495,203	$	85,262
Convertible senior debentures due 2040, due 2041, and due 2042	$	36,556		(22,352	)		70	$	14,274	$	15,092
Total	$	636,556	$	(127,149	)	$	70	$	509,477	$	100,354

Convertible debt instruments, interest expense

Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the fiscal quarters ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debt instruments
June 29, 2019
Convertible senior notes due 2025	$	3,375		3,442		454		-		$	7,271
Convertible senior debentures	$	119		53		2		(4	)	$	170
Total	$	3,494	$	3,495	$	456	$	(4	)	$	7,441

June 30, 2018
Convertible senior notes due 2025	$	713		556		151		-		$	1,420
Convertible senior debentures	$	2,692		1,099		39		(156	)	$	3,674
Total	$	3,405	$	1,655	$	190	$	(156	)	$	5,094

Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the six fiscal months ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debt instruments
June 29, 2019
Convertible senior notes due 2025	$	6,750		6,868		908		-		$	14,526
Convertible senior debentures due 2040 and due 2041	$	267		117		4		(22	)	$	366
Total	$	7,017	$	6,985	$	912	$	(22	)	$	14,892

June 30, 2018
Convertible senior notes due 2025	$	713		556		151		-		$	1,420
Convertible senior debentures due 2040 and due 2041	$	5,927		2,408		86		5		$	8,426
Total	$	6,640	$	2,964	$	237	$	5		$	9,846

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 29, 2019

Accumulated Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss) and Income Tax Effects Allocated

The cumulative balance of each component of other comprehensive income (loss) and the income tax effects allocated to each component are as follows:

	Pension and other post- retirement actuarial items			Currency translation adjustment			Total
Balance at January 1, 2019	$	(58,291	)	$	51,500		$	(6,791	)
Other comprehensive income before reclassifications		-			(2,605	)	$	(2,605	)
Tax effect		-			-		$	-
Other comprehensive income before reclassifications, net of tax		-			(2,605	)	$	(2,605	)
Amounts reclassified out of AOCI		4,107			-		$	4,107
Tax effect		(1,027	)		-		$	(1,027	)
Amounts reclassified out of AOCI, net of tax		3,080			-		$	3,080
Net other comprehensive income	$	3,080		$	(2,605	)	$	475
Balance at June 29, 2019	$	(55,211	)	$	48,895		$	(6,316	)

Pensions and Other Postretirement Benefits (Tables)

6 Months Ended

Jun. 29, 2019

Defined Benefit Pension Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Benefit Cost for Pension and Other Postretirement Benefit Plans

The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2019 and 2018 for the Company’s defined benefit pension plans:

	Fiscal quarter ended June 29, 2019					Fiscal quarter ended June 30, 2018
	U.S. Plans		Non-U.S. Plans			U.S. Plans		Non-U.S. Plans

Net service cost	$	-	$	845		$	-	$	927
Interest cost		424		1,281			371		1,211
Expected return on plan assets		-		(489	)		-		(479	)
Amortization of prior service cost		36		50			36		54
Amortization of losses		118		1,344			159		1,566
Curtailment and settlement losses		-		500			-		455
Net periodic benefit cost	$	578	$	3,531		$	566	$	3,734

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 29, 2019 and June 30, 2018 for the Company’s defined benefit pension plans:

	Six fiscal months ended June 29, 2019					Six fiscal months ended June 30, 2018
	U.S. Plans		Non-U.S. Plans			U.S. Plans		Non-U.S. Plans

Net service cost	$	-	$	1,697		$	-	$	1,875
Interest cost		848		2,572			742		2,453
Expected return on plan assets		-		(979	)		-		(967	)
Amortization of prior service cost		72		101			72		109
Amortization of losses		236		2,703			318		3,170
Curtailment and settlement losses		-		1,005			-		917
Net periodic benefit cost	$	1,156	$	7,099		$	1,132	$	7,557

Other Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Benefit Cost for Pension and Other Postretirement Benefit Plans

The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2019 and 2018 for the Company’s other postretirement benefit plans:

	Fiscal quarter ended June 29, 2019					Fiscal quarter ended June 30, 2018
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans

Service cost	$	35		$	72	$	34		$	73
Interest cost		78			30		68			28
Amortization of prior service (credit)		-			-		(37	)		-
Amortization of losses (gains)		(32	)		27		(9	)		27
Net periodic benefit cost	$	81		$	129	$	56		$	128

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 29, 2019 and June 30, 2018 for the Company’s other postretirement benefit plans:

	Six fiscal months ended June 29, 2019					Six fiscal months ended June 30, 2018
	U.S. Plans			Non-U.S. Plans		U.S. Plans			Non-U.S. Plans

Service cost	$	70		$	144	$	68		$	148
Interest cost		155			60		136			58
Amortization of prior service (credit)		-			-		(74	)		-
Amortization of losses (gains)		(64	)		54		(19	)		54
Net periodic benefit cost	$	161		$	258	$	111		$	260

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 29, 2019

Stock-Based Compensation [Abstract]

Summary of Recognized Stock-based Compensation Expense

The following table summarizes stock-based compensation expense recognized:

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018

Restricted stock units	$	890	$	778	$	4,249		3,047
Phantom stock units		-		-		177		214
Total	$	890	$	778	$	4,426		3,261

Summary of Unrecognized Compensation Cost and Weighted Average Remaining Amortization Periods

The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at June 29, 2019 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods

Restricted stock units	$	4,779		0.9
Phantom stock units		-		0.0
Total	$	4,779

RSU Activity

RSU activity under the 2007 Program as of June 29, 2019 and changes during the six 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, 2019		904		$	14.77
Granted		314			19.85
Vested*		(361	)		11.70
Cancelled or forfeited		(15	)		17.71
Outstanding at June 29, 2019		842		$	17.93

Expected to vest at June 29, 2019		842

* The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

RSUs with Performance-Based Vesting Criteria

Vesting Date	Expected to Vest		Not Expected to Vest		Total
January 1, 2020		167		-		167
January 1, 2021		141		-		141
January 1, 2022		174		-		174

Phantom Stock Unit Activity Under the Phantom Stock Plan

Phantom stock unit activity under the phantom stock plan as of June 29, 2019 and changes during the six fiscal months then ended are presented below (number of phantom stock units in thousands):

	Number of units		Grant-date Fair Value per Unit
Outstanding:
January 1, 2019		170
Granted		10	$	17.72
Dividend equivalents issued		2
Outstanding at June 29, 2019		182

Segment Information (Tables)

6 Months Ended

Jun. 29, 2019

Segment Information [Abstract]

Segment Reporting Information by Segment

The following tables set forth business segment information:

	MOSFETs		Diodes		Optoelectronic Components		Resistors & Inductors		Capacitors		Total
Fiscal quarter ended June 29, 2019:
Net revenues	$	128,842	$	142,042	$	60,675	$	242,383	$	111,298	$	685,240

Gross profit	$	31,933	$	28,857	$	16,231	$	71,415	$	26,165	$	174,601

Segment operating income	$	22,541	$	24,010	$	12,022	$	63,443	$	21,161	$	143,177

Fiscal quarter ended June 30, 2018:
Net revenues	$	136,559	$	182,466	$	75,709	$	253,947	$	112,349	$	761,030

Gross profit	$	38,427	$	52,408	$	26,404	$	84,969	$	25,030	$	227,238

Segment operating income	$	28,517	$	47,100	$	22,165	$	76,248	$	19,710	$	193,740

Six fiscal months ended June 29, 2019:
Net revenues	$	266,183	$	309,882	$	121,237	$	502,854	$	230,243	$	1,430,399

Gross Profit	$	67,992	$	72,349	$	32,248	$	157,284	$	55,887	$	385,760

Segment Operating Income	$	49,219	$	62,138	$	23,732	$	140,430	$	45,727	$	321,246

Six fiscal months ended June 30, 2018:
Net revenues	$	264,065	$	349,483	$	147,667	$	497,993	$	218,617	$	1,477,825

Gross Profit	$	70,449	$	95,608	$	53,637	$	163,499	$	49,345	$	432,538

Segment Operating Income	$	51,075	$	85,031	$	44,959	$	146,250	$	38,603	$	365,918

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

	Fiscal quarters ended						Six fiscal months ended
	June 29, 2019			June 30, 2018			June 29, 2019			June 30, 2018
Reconciliation:
Segment Operating Income	$	143,177		$	193,740		$	321,246		$	365,918
Unallocated Selling, General, and Administrative Expenses		(63,688	)		(70,447	)		(134,022	)		(138,563	)
Consolidated Operating Income	$	79,489		$	123,293		$	187,224		$	227,355
Unallocated Other Income (Expense)		(8,601	)		(25,734	)		(16,388	)		(37,777	)
Consolidated Income Before Taxes	$	70,888		$	97,559		$	170,836		$	189,578

Disaggregation of Revenue

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:

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Distributors	$	368,420	$	446,016	$	779,980	$	850,076
OEMs		269,026		262,779		551,662		526,829
EMS companies		47,794		52,235		98,757		100,920
Total Revenue	$	685,240	$	761,030	$	1,430,399	$	1,477,825

Net revenues were attributable to customers in the following regions:

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Asia	$	246,193	$	302,868	$	505,919	$	588,346
Europe		254,742		272,601		533,641		539,983
Americas		184,305		185,561		390,839		349,496
Total Revenue	$	685,240	$	761,030	$	1,430,399	$	1,477,825

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Industrial	$	250,783	$	295,617	$	532,373	$	575,829
Automotive		200,580		209,858		415,366		418,252
Telecommunications		44,562		46,467		97,842		92,391
Computing		48,244		53,657		95,752		101,088
Consumer Products		30,486		40,939		64,535		78,198
Power Supplies		29,474		41,326		59,601		75,569
Military and Aerospace		47,848		40,260		95,409		75,474
Medical		33,263		32,906		69,521		61,024
Total revenue	$	685,240	$	761,030		1,430,399		1,477,825

Earnings Per Share (Tables)

6 Months Ended

Jun. 29, 2019

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share attributable to Vishay stockholders (shares in thousands):

	Fiscal quarters ended				Six fiscal months ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018

Numerator:
Net earnings attributable to Vishay stockholders	$	44,477	$	103,097	$	119,936	$	165,463

Denominator:
Denominator for basic earnings per share:
Weighted average shares		144,441		144,215		144,409		144,188
Outstanding phantom stock units		180		167		180		167
Adjusted weighted average shares		144,621		144,382		144,589		144,355

Effect of dilutive securities:
Convertible and exchangeable debt instruments		24		12,810		131		13,710
Restricted stock units		378		465		438		515
Dilutive potential common shares		402		13,275		569		14,225

Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		145,023		157,657		145,158		158,580

Basic earnings per share attributable to Vishay stockholders	$	0.31	$	0.71	$	0.83	$	1.15

Diluted earnings per share attributable to Vishay stockholders	$	0.31	$	0.65	$	0.83	$	1.04

Weighted Average Potential Common Shares that Would have an Antidilutive Effect or have Unsatisfied Performance Conditions

	Fiscal quarters ended		Six fiscal months ended
	June 29, 2019	June 30, 2018	June 29, 2019	June 30, 2018
Convertible debt instruments:
Convertible Senior Notes, due 2025	19,055	3,769	19,053	1,885
Weighted average other	315	307	315	307

Fair Value Measurements (Tables)

6 Months Ended

Jun. 29, 2019

Fair Value Measurements [Abstract]

Fair Value of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

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
June 29, 2019
Assets:
Assets held in rabbi trusts	$	49,615		$	32,786	$	16,829	$	-
Available for sale securities	$	4,431			4,431		-		-
	$	54,046		$	37,217	$	16,829	$	-
Liabilities:
Embedded derivative - convertible debentures due 2040	$	-		$	-	$	-	$	-
Embedded derivative - convertible debentures due 2041	$	(20	)		-		-		(20	)
	$	(20	)	$	-	$	-	$	(20	)
December 31, 2018
Assets:
Assets held in rabbi trusts	$	41,770		$	26,278		15,492	$	-
Available for sale securities	$	4,309			4,309		-		-
	$	46,079		$	30,587	$	15,492	$	-
Liabilities:
Embedded derivative - convertible debentures due 2040	$	(1	)	$	-	$	-	$	(1	)
Embedded derivative - convertible debentures due 2041	$	(67	)		-		-		(67	)
Embedded derivative - convertible debentures due 2042	$	(2	)		-		-		(2	)
	$	(70	)	$	-	$	-	$	(70	)

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Basis of Presentation (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 29, 2019	Jun. 30, 2018	Mar. 30, 2019	Mar. 31, 2018
Recently Adopted Accounting Guidance [Abstract]
Right of use assets	$ 0	$ 96,136
Lease liabilities		101,409
Proceeds from sale of property and equipment		$ 464	$ 8,378
Cumulative effect of accounting change for adoption of ASU				$ 23,013	$ 0
ASU 2016-02 [Member]
Recently Adopted Accounting Guidance [Abstract]
Right of use assets	91,462
Lease liabilities	95,784
Proceeds from sale of property and equipment	45,500
Cumulative effect of accounting change for adoption of ASU	$ 23,013

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Sales returns and allowances accrual activity [Roll Forward]
Beginning balance	$ 37,577	$ 32,706	$ 42,663	$ 36,680
Sales allowances	28,903	25,365	57,114	49,553
Credits issued	(22,270)	(19,348)	(55,332)	(47,798)
Foreign currency	172	(691)	(63)	(403)
Ending balance	$ 44,382	$ 38,032	$ 44,382	$ 38,032

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Jun. 29, 2019	Dec. 31, 2018
Assets and Liabilities [Abstract]
Right of use assets	$ 96,136	$ 96,136	$ 0
Current lease liabilities	15,323	15,323	0
Long-term lease liabilities	86,086	86,086	0
Total lease liabilities	101,409	101,409
Lease expense [Abstract]
Operating lease expense	5,627	11,163
Short-term lease expense	819	1,652
Variable lease expense	9	21
Total lease expense	$ 6,455	12,836
Cash paid for operating leases		$ 10,277
Weighted-average remaining lease term - operating leases	9 years 2 months 12 days	9 years 2 months 12 days
Weighted-average discount rate - operating leases	6.10%	6.10%
Undiscounted future lease payments for operating lease liabilities [Abstract]
2019 (excluding the six fiscal months ended June 29, 2019)	$ 11,095	$ 11,095
2020	19,294	19,294
2021	16,198	16,198
2022	13,408	13,408
2023	12,387	12,387
Thereafter	61,246	61,246
ASU 2016-02 [Member]
Assets and Liabilities [Abstract]
Right of use assets			91,462
Current lease liabilities			13,961
Long-term lease liabilities			81,823
Total lease liabilities			95,784
Building and Improvements [Member]
Assets and Liabilities [Abstract]
Right of use assets	90,989	90,989
Current lease liabilities	12,676	12,676
Long-term lease liabilities	83,604	83,604
Building and Improvements [Member] \| ASU 2016-02 [Member]
Assets and Liabilities [Abstract]
Right of use assets			86,058
Current lease liabilities			10,644
Long-term lease liabilities			79,000
Machinery and Equipment [Member]
Assets and Liabilities [Abstract]
Right of use assets	5,147	5,147
Current lease liabilities	2,647	2,647
Long-term lease liabilities	$ 2,482	$ 2,482
Machinery and Equipment [Member] \| ASU 2016-02 [Member]
Assets and Liabilities [Abstract]
Right of use assets			5,404
Current lease liabilities			3,317
Long-term lease liabilities			$ 2,823

Acquisition Activities (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
Acquisition Activities (Details) - USD ($) $ in Thousands	Jan. 03, 2019	Mar. 30, 2019	Jun. 29, 2019	Jun. 30, 2018	Dec. 31, 2018
Acquisition Activities [Abstract]
Acquisition of business, net of cash acquired			$ 11,862	$ 14,880
Goodwill related to acquisitions			$ 150,735		$ 147,480
Bi-Metallix [Member]
Acquisition Activities [Abstract]
Purchase price of businesses	$ 11,862
Finite-lived Intangible Assets Acquired	2,900
Goodwill related to acquisitions	$ 3,324
Business Acquisition, Name of Acquired Entity	Bi-Metallix, Inc.
Business Acquisition, Effective Date of Acquisition		Jan. 03, 2019

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Taxes [Abstract]
Increase in liabilities for unrecognized tax benefits				$ 4,784
TCJA income tax expense [Abstract]
TCJA tax on unremitted foreign earnings			$ 12,000
Income Tax Uncertainties [Abstract]
Additional expected repatriation	$ 100,000
Cash repatriated during the current period	73,590
Repatriation taxes paid	20,479
Future cash repatriation [Abstract]
Future cash repatriation next fiscal quarter	104,000			104,000
Taxes associated with future cash repatriation next fiscal quarter	15,000			15,000
Tax expense on tax-basis gain	7,554			7,554
Remeasurement of Repatriation Deferred Tax Liability [Member]
Effect on Income Tax Expense (Benefit) [Line Items]
Deferred other tax expense (benefit)	$ 48		9,006	$ 633	$ 7,690
Remeasurement of Deferred Tax Liability Debt Extinguishment [Member]
Effect on Income Tax Expense (Benefit) [Line Items]
Deferred other tax expense (benefit)		$ 1,312	$ 33,963

Long-Term Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Dec. 31, 2018
Line of Credit Facility [Line Items]
Line of credit facility, decrease in commitment fee				0.05%
Debt Instruments [Abstract]
Credit facility	$ 28,000			$ 28,000		$ 0
Deferred financing costs	(18,486)			(18,486)		(14,968)
Long-term debt	519,863			519,863		494,509
Less current portion	0			0		0
Long-term debt, less current portion	519,863			519,863		494,509
Interest expense [Abstract]
Contractual coupon interest	3,494		$ 3,405	7,017	$ 6,640
Non-cash amortization of debt discount	3,495		1,655	6,985	2,964
Non-cash amortization of deferred financing costs	456		190	912	237
Non-cash change in value of derivative liability	(4)		(156)	(22)	5
Total interest expense related to the debentures	7,441		5,094	14,892	9,846
Allocated liability component of repurchased debt		$ 7,311
Allocated equity component of repurchased debt		15,384
Loss on extinguishment of debt, including the write-off of portion of unamortized debt issuance costs	0	(1,307)	$ (17,309)	(1,307)	(17,309)
Convertible Senior Notes, Due 2025 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 502,071			$ 502,071		495,203
Issuance date				Jun. 12, 2018
Debt maturity date				Jun. 15, 2025
Cash coupon rate	2.25%			2.25%
Nonconvertible debt borrowing rate at issuance	5.50%			5.50%
Effective conversion rate				31.7738
Effective conversion price (in dollars per share)	$ 31.47			$ 31.47
130% of the conversion price (in dollars per share)			$ 40.94	$ 40.91
Debt instrument percentage of conversion price				130.00%
Debt instrument percentage of sales price of common stock	98.00%			98.00%
Maximum threshold of quarterly cash dividends per share of common stock for not adjusting conversion rate of convertible notes				$ 0.085
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	$ 600,000			$ 600,000
Interest expense [Abstract]
Contractual coupon interest	3,375		$ 713	6,750	713
Non-cash amortization of debt discount	3,442		556	6,868	556
Non-cash amortization of deferred financing costs	454		151	908	151
Non-cash change in value of derivative liability	0		0	0	0
Total interest expense related to the debentures	7,271		1,420	14,526	1,420
Convertible Senior Debentures, Due 2040 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 146			$ 146		539
Issuance date				Nov. 09, 2010
Debt maturity date				Nov. 15, 2040
Cash coupon rate	2.25%			2.25%
Nonconvertible debt borrowing rate at issuance	8.00%			8.00%
Effective conversion rate				79.1822
Effective conversion price (in dollars per share)	$ 12.63			$ 12.63
130% of the conversion price (in dollars per share)				$ 16.42
Convertible senior debentures call date				Nov. 20, 2020
Conversion period before maturity date				3 months
Debt instrument percentage of conversion price				130.00%
Debt instrument percentage of sales price of common stock	98.00%			98.00%
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	$ 350			$ 350
Interest expense [Abstract]
Principal amount of repurchased debt		960
Net carrying value of repurchased debt		396
Convertible Senior Debentures, Due 2041 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 8,132			$ 8,132		12,812
Issuance date				May 13, 2011
Debt maturity date				May 15, 2041
Cash coupon rate	2.25%			2.25%
Nonconvertible debt borrowing rate at issuance	8.375%			8.375%
Effective conversion rate				57.7830
Effective conversion price (in dollars per share)	$ 17.31			$ 17.31
130% of the conversion price (in dollars per share)				$ 22.50
Convertible senior debentures call date				May 20, 2021
Conversion period before maturity date				3 months
Debt instrument percentage of conversion price				130.00%
Debt instrument percentage of sales price of common stock	98.00%			98.00%
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	$ 20,790			$ 20,790
Interest expense [Abstract]
Principal amount of repurchased debt		12,288
Net carrying value of repurchased debt		4,770
Convertible Senior Debentures, Due 2042 [Member]
Debt Instruments [Abstract]
Convertible debt	0			0		923
Interest expense [Abstract]
Principal amount of repurchased debt		2,168
Net carrying value of repurchased debt		924
Convertible Senior Debentures [Member]
Interest expense [Abstract]
Contractual coupon interest	119		2,692	267	5,927
Non-cash amortization of debt discount	53		1,099	117	2,408
Non-cash amortization of deferred financing costs	2		39	4	86
Non-cash change in value of derivative liability	(4)		(156)	(22)	5
Total interest expense related to the debentures	$ 170		$ 3,674	$ 366	$ 8,426
Purchase price of extinguished debt		$ 22,695
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.50%
Commitment fees				0.25%
Incremental revolving commitments				$ 300,000
Line of credit facility, commitment fee percentage				0.25%
Line of credit facility, expiration date				Jun. 05, 2024
Line of credit facility, initiation date	Jun. 05, 2019
Line of credit facility, maximum borrowing capacity	$ 750,000			$ 750,000
Restricted payments (annual limit)	100,000			100,000
Restricted payments (total limit)	300,000			300,000
Restricted payments (rollover limit)	25,000			$ 25,000
Restricted payments pro form ratio				2.50
Investments pro forma ratio				2.75
Event of default - judgment limit	50,000			$ 50,000
Previous Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, expiration date				Dec. 10, 2020
Line of credit facility, maximum borrowing capacity	640,000			$ 640,000
Convertible Debt [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	621,140			621,140		636,556
Unamortized discount	(110,811)			(110,811)		(127,149)
Embedded derivative	20			20		70
Carrying value of liability component	510,349			510,349		509,477
Equity component - net carrying value	94,029			94,029		100,354
Convertible Debt [Member] \| Convertible Senior Notes, Due 2025 [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	600,000			600,000		600,000
Unamortized discount	(97,929)			(97,929)		(104,797)
Embedded derivative	0			0		0
Carrying value of liability component	502,071			502,071		495,203
Equity component - net carrying value	85,262			85,262		85,262
Convertible Debt [Member] \| Convertible Senior Debentures [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	21,140			21,140		36,556
Unamortized discount	(12,882)			(12,882)		(22,352)
Embedded derivative	20			20		70
Carrying value of liability component	8,278			8,278		14,274
Equity component - net carrying value	$ 8,767			$ 8,767		$ 15,092

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2019	Mar. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 29, 2019	Jun. 30, 2018
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		$ (6,791)			$ (6,791)
Other comprehensive income before reclassifications					(2,605)
Tax effect					0
Other comprehensive income before reclassifications, net of tax					(2,605)
Amounts reclassified out of AOCI					4,107
Tax effect					(1,027)
Amounts reclassified out of AOCI, net of tax					3,080
Net other comprehensive income	$ 9,007	(8,532)	$ (59,962)	$ 28,631	475	$ (31,331)
Ending Balance	(6,316)				(6,316)
Pension and Other Post-Retirement Actuarial Items [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		(58,291)			(58,291)
Other comprehensive income before reclassifications					0
Tax effect					0
Other comprehensive income before reclassifications, net of tax					0
Amounts reclassified out of AOCI					4,107
Tax effect					(1,027)
Amounts reclassified out of AOCI, net of tax					3,080
Net other comprehensive income					3,080
Ending Balance	(55,211)				(55,211)
Currency Translation Adjustment [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		51,500			51,500
Other comprehensive income before reclassifications					(2,605)
Tax effect					0
Other comprehensive income before reclassifications, net of tax					(2,605)
Amounts reclassified out of AOCI					0
Tax effect					0
Amounts reclassified out of AOCI, net of tax					0
Net other comprehensive income					(2,605)
Ending Balance	48,895				48,895
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		(6,791)			(6,791)
Net other comprehensive income	9,007	$ (8,532)	$ (59,962)	$ 28,631
Ending Balance	$ (6,316)				$ (6,316)

Pensions and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Defined Benefit Pension Plans [Member] \| U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	424	371	848	742
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	36	36	72	72
Amortization of losses (gains)	118	159	236	318
Curtailment and settlement losses	0	0	0	0
Net periodic benefit cost	578	566	1,156	1,132
Defined Benefit Pension Plans [Member] \| Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	845	927	1,697	1,875
Interest cost	1,281	1,211	2,572	2,453
Expected return on plan assets	(489)	(479)	(979)	(967)
Amortization of prior service cost (credit)	50	54	101	109
Amortization of losses (gains)	1,344	1,566	2,703	3,170
Curtailment and settlement losses	500	455	1,005	917
Net periodic benefit cost	3,531	3,734	7,099	7,557
Other Postretirement Benefits [Member] \| U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	35	34	70	68
Interest cost	78	68	155	136
Amortization of prior service cost (credit)	0	(37)	0	(74)
Amortization of losses (gains)	(32)	(9)	(64)	(19)
Net periodic benefit cost	81	56	161	111
Other Postretirement Benefits [Member] \| Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	72	73	144	148
Interest cost	30	28	60	58
Amortization of prior service cost (credit)	0	0	0	0
Amortization of losses (gains)	27	27	54	54
Net periodic benefit cost	$ 129	$ 128	$ 258	$ 260

Stock-Based Compensation (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 29, 2019

Jun. 30, 2018

Jun. 29, 2019

Jun. 30, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense recognized

$ 890

$ 778

$ 4,426

$ 3,261

Unrecognized Compensation Cost

$ 4,779

Expiration date of the 2007 stock incentive plan

May 20, 2024

Maximum number of shares granted under restricted stock, unrestricted stock, RSU's and stock options to officers, employees and employee directors (in shares)

6,500,000

Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense recognized

$ 890

778

$ 4,249

3,047

Unrecognized Compensation Cost

$ 4,779

Weighted Average Remaining Amortization Periods

10 months 24 days

Number of units [Abstract]

Outstanding (in shares)

904,000

Granted (in shares)

314,000

Vested (in shares)

^[1]

(361,000)

Cancelled or forfeited (in shares)

(15,000)

Outstanding (in shares)

842,000

Expected to vest (in shares)

842,000

Weighted Average Grant-date Fair Value per Unit [Abstract]

Outstanding (in dollars per share)

$ 14.77

Granted (in dollars per share)

19.85

Vested (in dollars per share)

^[1]

11.70

Cancelled or forfeited (in dollars per share)

17.71

Outstanding (in dollars per share)

$ 17.93

Phantom Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense recognized

$ 0

$ 177

$ 214

Unrecognized Compensation Cost

$ 0

Weighted Average Remaining Amortization Periods

0 years

Number of units [Abstract]

Outstanding (in shares)

170,000

Granted (in shares)

10,000

Dividend equivalents issued (in shares)

2,000

Outstanding (in shares)

182,000

Weighted Average Grant-date Fair Value per Unit [Abstract]

Granted (in dollars per share)

$ 17.72

Scheduled to Vest January 1, 2020 [Member] | Performance Vested Restricted Stock Units [Member]

Number of units [Abstract]

Outstanding (in shares)

167,000

Expected to vest (in shares)

167,000

Not expected to vest (in shares)

Scheduled to Vest January 1, 2021 [Member] | Performance Vested Restricted Stock Units [Member]

Number of units [Abstract]

Outstanding (in shares)

141,000

Expected to vest (in shares)

141,000

Not expected to vest (in shares)

Scheduled to Vest January 1, 2022 [Member] | Performance Vested Restricted Stock Units [Member]

Number of units [Abstract]

Outstanding (in shares)

174,000

Expected to vest (in shares)

174,000

Not expected to vest (in shares)

[1]	The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Thousands	Jun. 29, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 29, 2019 USD ($) Segment	Jun. 30, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment			5
Net revenues	$ 685,240	$ 761,030	$ 1,430,399	$ 1,477,825
Gross profit	174,601	227,238	385,760	432,538
Unallocated Selling, General, and Administrative Expenses	(95,112)	(103,945)	(198,536)	(205,183)
Operating income	79,489	123,293	187,224	227,355
Unallocated Other Income (Expense)	(8,601)	(25,734)	(16,388)	(37,777)
Consolidated Income Before Taxes	70,888	97,559	170,836	189,578
Distributors [Member]
Segment Reporting Information [Line Items]
Net revenues	368,420	446,016	779,980	850,076
OEMs [Member]
Segment Reporting Information [Line Items]
Net revenues	269,026	262,779	551,662	526,829
EMS Companies [Member]
Segment Reporting Information [Line Items]
Net revenues	47,794	52,235	98,757	100,920
Industrial [Member]
Segment Reporting Information [Line Items]
Net revenues	250,783	295,617	532,373	575,829
Automotive [Member]
Segment Reporting Information [Line Items]
Net revenues	200,580	209,858	415,366	418,252
Telecommunications [Member]
Segment Reporting Information [Line Items]
Net revenues	44,562	46,467	97,842	92,391
Computing [Member]
Segment Reporting Information [Line Items]
Net revenues	48,244	53,657	95,752	101,088
Consumer Products [Member]
Segment Reporting Information [Line Items]
Net revenues	30,486	40,939	64,535	78,198
Power Supplies [Member]
Segment Reporting Information [Line Items]
Net revenues	29,474	41,326	59,601	75,569
Military and Aerospace [Member]
Segment Reporting Information [Line Items]
Net revenues	47,848	40,260	95,409	75,474
Medical [Member]
Segment Reporting Information [Line Items]
Net revenues	33,263	32,906	69,521	61,024
Asia [Member]
Segment Reporting Information [Line Items]
Net revenues	246,193	302,868	505,919	588,346
Europe [Member]
Segment Reporting Information [Line Items]
Net revenues	254,742	272,601	533,641	539,983
Americas [Member]
Segment Reporting Information [Line Items]
Net revenues	184,305	185,561	390,839	349,496
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues			1,430,399	1,477,825
Gross profit			385,760	432,538
Operating income	143,177	193,740	321,246	365,918
Operating Segments [Member] \| MOSFETS [Member]
Segment Reporting Information [Line Items]
Net revenues	128,842	136,559	266,183	264,065
Gross profit	31,933	38,427	67,992	70,449
Operating income	22,541	28,517	49,219	51,075
Operating Segments [Member] \| Diodes [Member]
Segment Reporting Information [Line Items]
Net revenues	142,042	182,466	309,882	349,483
Gross profit	28,857	52,408	72,349	95,608
Operating income	24,010	47,100	62,138	85,031
Operating Segments [Member] \| Optoelectronic Components [Member]
Segment Reporting Information [Line Items]
Net revenues	60,675	75,709	121,237	147,667
Gross profit	16,231	26,404	32,248	53,637
Operating income	12,022	22,165	23,732	44,959
Operating Segments [Member] \| Resistors & Inductors [Member]
Segment Reporting Information [Line Items]
Net revenues	242,383	253,947	502,854	497,993
Gross profit	71,415	84,969	157,284	163,499
Operating income	63,443	76,248	140,430	146,250
Operating Segments [Member] \| Capacitors [Member]
Segment Reporting Information [Line Items]
Net revenues	111,298	112,349	230,243	218,617
Gross profit	26,165	25,030	55,887	49,345
Operating income	21,161	19,710	45,727	38,603
Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Unallocated Selling, General, and Administrative Expenses	(63,688)	(70,447)	(134,022)	(138,563)
Unallocated Other Income (Expense)	$ (8,601)	$ (25,734)	$ (16,388)	$ (37,777)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Numerator [Abstract]
Net earnings attributable to Vishay stockholders	$ 44,477	$ 103,097	$ 119,936	$ 165,463
Denominator [Abstract]
Weighted average shares (in shares)	144,441	144,215	144,409	144,188
Outstanding phantom stock units (in shares)	180	167	180	167
Adjusted weighted average shares - basic (in shares)	144,621	144,382	144,589	144,355
Effect of dilutive securities [Abstract]
Convertible and exchangeable debt instruments (in shares)	24	12,810	131	13,710
Restricted stock units (in shares)	378	465	438	515
Dilutive potential common shares (in shares)	402	13,275	569	14,225
Denominator for diluted earnings per share [Abstract]
Adjusted weighted average shares - diluted (in shares)	145,023	157,657	145,158	158,580
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.31	$ 0.71	$ 0.83	$ 1.15
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.31	$ 0.65	$ 0.83	$ 1.04
Convertible Senior Notes, Due 2025 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	19,055	3,769	19,053	1,885
Minimum market price of common stock for inclusion of shares issuable upon conversion of senior debentures for calculation of diluted earnings per share (in dollars per share)	$ 31.47		$ 31.47
Convertible Senior Debentures, Due 2041 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Minimum market price of common stock for inclusion of shares issuable upon conversion of senior debentures for calculation of diluted earnings per share (in dollars per share)	$ 17.31		$ 17.31
Weighted Average Other [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	315	307	315	307
Convertible Senior Debentures, Due 2040 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Minimum market price of common stock for inclusion of shares issuable upon conversion of senior debentures for calculation of diluted earnings per share (in dollars per share)	$ 12.63		$ 12.63

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 31, 2018
Assets [Abstract]
Held-to-maturity Securities, Transferred Security, at Carrying Value	$ 0
Held-to-maturity Securities, Unrecognized Holding Gain	0
Held-to-maturity Securities, Unrecognized Holding Loss	0
Liabilities [Abstract]
Long-term debt, fair value	610,600	$ 577,200
Carrying value of long-term debt, excluding derivative liabilities	538,329	509,407
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	49,615	41,770
Available for sale securities	4,431	4,309
Fair value assets	54,046	46,079
Liabilities [Abstract]
Fair value liabilities	(20)	(70)
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	32,786	26,278
Available for sale securities	4,431	4,309
Fair value assets	37,217	30,587
Liabilities [Abstract]
Fair value liabilities	0	0
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	16,829	15,492
Available for sale securities	0	0
Fair value assets	16,829	15,492
Liabilities [Abstract]
Fair value liabilities	0	0
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	0	0
Available for sale securities	0	0
Fair value assets	0	0
Liabilities [Abstract]
Fair value liabilities	(20)	(70)
Convertible Debentures, Due 2040 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	0	(1)
Convertible Debentures, Due 2040 [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	0	0
Convertible Debentures, Due 2040 [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	0	0
Convertible Debentures, Due 2040 [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	0	(1)
Convertible Debentures, Due 2041 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	(20)	(67)
Convertible Debentures, Due 2041 [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	0	0
Convertible Debentures, Due 2041 [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	0	0
Convertible Debentures, Due 2041 [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative	$ (20)	(67)
Convertible Debentures, Due 2042 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative		(2)
Convertible Debentures, Due 2042 [Member] \| Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative		0
Convertible Debentures, Due 2042 [Member] \| Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative		0
Convertible Debentures, Due 2042 [Member] \| Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Liabilities [Abstract]
Embedded derivative		$ (2)

Restructuring and Related Activities (Details) $ in Thousands	Jul. 29, 2019 USD ($)
Subsequent Event [Member]
Restructuring Reserve [Roll Forward]
Expected restructuring costs	$ 25,000