0000103730-21-000030 | 10-Q | XBRL Viewer | Vishay Intertechnology INC

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 03, 2021	Apr. 30, 2021
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Apr. 03, 2021
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	2021
Document Fiscal Period Focus	Q1
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, par value $0.10 per share [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		132,710,732
Class B Convertible Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		12,097,148

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 643,847	$ 619,874
Short-term investments	137,348	158,476
Accounts receivable, net	385,238	338,632
Inventories:
Finished goods	129,310	120,792
Work in process	212,273	201,259
Raw materials	132,373	126,200
Total inventories	473,956	448,251
Prepaid expenses and other current assets	140,536	132,103
Total current assets	1,780,925	1,697,336
Property and equipment, at cost:
Land	75,339	76,231
Buildings and improvements	629,550	641,041
Machinery and equipment	2,705,346	2,732,771
Construction in progress	94,981	86,520
Allowance for depreciation	(2,587,948)	(2,593,398)
Property and equipment, net	917,268	943,165
Right of use assets	98,001	102,440
Goodwill	157,693	158,183
Other intangible assets, net	64,123	66,795
Other assets	192,552	186,554
Total assets	3,210,562	3,154,473
Current liabilities:
Trade accounts payable	206,741	196,203
Payroll and related expenses	136,069	141,034
Lease liabilities	21,275	22,074
Other accrued expenses	197,246	182,642
Income taxes	26,715	20,470
Total current liabilities	588,046	562,423
Long-term debt less current portion	453,213	394,886
U.S. transition tax payable	125,438	125,438
Deferred income taxes	1,856	1,852
Long-term lease liabilities	82,260	86,220
Other liabilities	103,881	104,356
Accrued pension and other postretirement costs	287,407	300,113
Total liabilities	1,642,101	1,575,288
Redeemable convertible debentures	0	170
Vishay stockholders' equity
Common stock	13,271	13,256
Class B convertible common stock	1,210	1,210
Capital in excess of par value	1,345,284	1,409,200
Retained earnings	217,214	138,990
Accumulated other comprehensive income (loss)	(11,526)	13,559
Total Vishay stockholders' equity	1,565,453	1,576,215
Noncontrolling interests	3,008	2,800
Total equity	1,568,461	1,579,015
Total liabilities, temporary equity, and equity	$ 3,210,562	$ 3,154,473

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Consolidated Condensed Statements of Operations [Abstract]
Net revenues	$ 764,632	$ 612,841
Costs of products sold	561,683	465,601
Gross profit	202,949	147,240
Selling, general, and administrative expenses	105,685	99,832
Operating income	97,264	47,408
Other income (expense):
Interest expense	(4,376)	(8,552)
Loss on early extinguishment of debt	0	(2,920)
Other	(5,731)	198
Total other income (expense)	(10,107)	(11,274)
Income before taxes	87,157	36,134
Income tax expense	15,514	8,750
Net earnings	71,643	27,384
Less: net earnings attributable to noncontrolling interests	208	165
Net earnings attributable to Vishay stockholders	$ 71,435	$ 27,219
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.49	$ 0.19
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.49	$ 0.19
Weighted average shares outstanding - basic (in shares)	144,968	144,792
Weighted average shares outstanding - diluted (in shares)	145,463	145,295
Cash dividends per share (in dollars per share)	$ 0.095	$ 0.095

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 71,643	$ 27,384
Other comprehensive income (loss), net of tax
Pension and other post-retirement actuarial items	1,864	1,601
Foreign currency translation adjustment	(26,949)	(23,129)
Other comprehensive income (loss)	(25,085)	(21,528)
Comprehensive income	46,558	5,856
Less: comprehensive income attributable to noncontrolling interests	208	165
Comprehensive income attributable to Vishay stockholders	$ 46,350	$ 5,691

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

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

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+ Details

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Operating activities
Net earnings	$ 71,643	$ 27,384
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	42,146	41,520
(Gain) loss on disposal of property and equipment	(177)	(45)
Accretion of interest on convertible debt instruments	0	3,637
Inventory write-offs for obsolescence	4,784	5,643
Deferred income taxes	901	(3,517)
Loss on extinguishment of debt	0	2,920
Other	5,728	3,524
Net change in operating assets and liabilities	(67,703)	(46,588)
Net cash provided by operating activities	57,322	34,478
Investing activities
Capital expenditures	(28,527)	(24,328)
Proceeds from sale of property and equipment	200	53
Purchase of short-term investments	(12,853)	(35,463)
Maturity of short-term investments	29,519	0
Other investing activities	347	(1,507)
Net cash provided by (used in) investing activities	(11,314)	(61,245)
Financing activities
Repurchase of convertible debt instruments	(300)	(19,849)
Net proceeds (payments) on revolving credit lines	0	54,000
Net changes in short-term borrowings	0	85
Cash withholding taxes paid when shares withheld for vested equity awards	(1,963)	(1,991)
Net cash provided by (used in) financing activities	(16,020)	18,504
Effect of exchange rate changes on cash and cash equivalents	(6,015)	(5,167)
Net increase (decrease) in cash and cash equivalents	23,973	(13,430)
Cash and cash equivalents at beginning of period	619,874	694,133
Cash and cash equivalents at end of period	643,847	680,703
Common Stock [Member]
Operating activities
Net earnings	0	0
Financing activities
Dividends paid to common stockholders	(12,608)	(12,592)
Class B Convertible Common Stock [Member]
Operating activities
Net earnings	0	0
Financing activities
Dividends paid to common stockholders	$ (1,149)	$ (1,149)

Consolidated Condensed Statements of Equity - USD ($) $ in Thousands	Capital In Excess of Par Value [Member]	Capital In Excess of Par Value [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings (Accumulated Deficit) [Member]	Retained Earnings (Accumulated Deficit) [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Total Vishay Stockholders' Equity [Member]	Total Vishay Stockholders' Equity [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Class B Convertible Common Stock [Member]	Class B Convertible Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Period Start at Dec. 31, 2019	$ 1,425,170		$ 72,180		$ (26,646)		$ 1,485,149		$ 2,540		$ 1,487,689		$ 13,235		$ 1,210
Net earnings	0		27,219		0		27,219		165		27,384		0		0
Other comprehensive income	0		0		(21,528)		(21,528)		0		(21,528)		0		0
Conversion of Class B shares	0		0		0		0		0		0		0		0
Temporary equity reclassification	174		0		0		174		0		174		0		0
Issuance of stock and related tax withholdings for vested restricted stock units	(2,011)		0		0		(1,991)		0		(1,991)		20		0
Dividends declared			(13,759)		0		(13,741)		0		(13,741)		0		0
Dividends declared (APIC)	18
Stock compensation expense	2,998		0		0		2,998		0		2,998		0		0
Repurchase of convertible debt instruments	(10,089)		0		0		(10,089)		0		(10,089)		0		0
Balance at Period End at Apr. 04, 2020	1,416,260		84,570		(48,174)		1,467,121		2,705		1,469,826		13,255		1,210
Cumulative effect of accounting change for adoption of ASU		$ 0		$ (1,070)		$ 0		$ (1,070)		$ 0		$ (1,070)		$ 0		$ 0
Cumulative effect of accounting change for adoption of ASU											138,990	20,566
Balance at Period Start at Dec. 31, 2020	1,409,200		138,990		13,559		1,576,215		2,800		1,579,015		13,256		1,210
Net earnings	0		71,435		0		71,435		208		71,643		0		0
Other comprehensive income	0		0		(25,085)		(25,085)		0		(25,085)		0		0
Issuance of stock and related tax withholdings for vested restricted stock units	(1,978)		0		0		(1,963)		0		(1,963)		15		0
Dividends declared			(13,777)		0		(13,757)		0		(13,757)		0		0
Dividends declared (APIC)	20
Stock compensation expense	4,120		0		0		4,120		0		4,120		0		0
Balance at Period End at Apr. 03, 2021	$ 1,345,284		$ 217,214		$ (11,526)		$ 1,565,453		$ 3,008		1,568,461		$ 13,271		$ 1,210
Cumulative effect of accounting change for adoption of ASU		$ (66,078)		$ 20,566		$ 0		$ (45,512)		$ 0	$ 217,214	$ (45,512)		$ 0		$ 0

Consolidated Condensed Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Consolidated Condensed Statements of Equity (Parenthetical) [Abstract]
Conversion of Class B shares (in shares)		18
Restricted stock issuances (in shares)	149,722	199,251
Dividends declared (in dollars per share)	$ 0.095	$ 0.095

Basis of Presentation	3 Months Ended
Basis of Presentation	Apr. 03, 2021
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, 2020. The results of operations for the fiscal quarter and three fiscal months ended April 3, 2021 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 2021 end on April 3, 2021, July 3, 2021, October 2, 2021, and December 31, 2021, respectively. The four fiscal quarters in 2020 ended on April 4, 2020, July 4, 2020, October 3, 2020, and December 31, 2020, respectively. Recently Adopted Accounting Guidance In August 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-06, Debt – Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU simplifies the accounting for certain financial instruments with characteristics of liability and equity, including convertible debt instruments. The ASU reduces the number of accounting models available for convertible debt instruments, requires the use of the if-converted method for the calculation of diluted earnings per share for convertible debt instruments, and increases disclosure requirements. The Company adopted the ASU effective January 1, 2021 using a modified retrospective approach. Upon adoption, Company recorded a $66,078 decrease in additional paid in capital from the derecognition of the bifurcated equity component of the convertible debt instruments, a $59,246 increase in debt from the derecognition of the discount associated with the bifurcated equity component of the convertible debt instruments and a $20,566 increase to the opening balance of retained earnings, representing the cumulative interest expense, net of tax effects, recognized related to the amortization of the bifurcated conversion option. The adoption of the ASU did not have a significant impact on the diluted sharecount due to Vishay exercising existing rights to legally amend the indenture governing the convertible senior notes due 2025. See Note 5. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Leases

3 Months Ended

Apr. 03, 2021

Leases [Abstract]

Leases

Note 2 – Leases

The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows:

	April 3, 2021		December 31, 2020
Right of use assets
Operating Leases
Buildings and improvements	$	92,951	$	97,429
Machinery and equipment		5,050		5,011
Total	$	98,001	$	102,440
Current lease liabilities
Operating Leases
Buildings and improvements	$	18,622	$	19,370
Machinery and equipment		2,653		2,704
Total	$	21,275	$	22,074
Long-term lease liabilities
Operating Leases
Buildings and improvements	$	79,895	$	83,926
Machinery and equipment		2,365		2,294
Total	$	82,260	$	86,220
Total lease liabilities	$	103,535	$	108,294

Lease expense is classified on the statement of operations based on asset use. Total lease cost recognized on the consolidated condensed statements of operations is as follows:

	Fiscal quarters ended
	April 3, 2021		April 4, 2020
Lease expense
Operating lease expense	$	6,152	$	5,652
Short-term lease expense		325		194
Variable lease expense		127		23
Total lease expense	$	6,604	$	5,869

The Company paid $6,161 and $5,609 for its operating leases in the three fiscal months ended April 3, 2021 and April 4, 2020, respectively, which are included in operating cash flows on the consolidated condensed statements of cash flows. The weighted-average remaining lease term for the Company's operating leases is 8.7 years and the weighted-average discount rate is 5.9% as of April 3, 2021.

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

	April 3, 2021
2021 (excluding the three fiscal months ended April 3, 2021)	$	16,736
2022		19,360
2023		16,198
2024		14,165
2025		13,026
Thereafter		54,010

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.

Restructuring and Related Activities

3 Months Ended

Apr. 03, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities

Note 3 – Restructuring and Related Activities

In 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 were primarily designed to reduce manufacturing fixed costs and selling, general, and administrative costs company-wide, and provide management rejuvenation. These programs are fully implemented. The Company incurred total charges of $24,882, primarily related to cash severance costs, to implement these programs.

The following table summarizes the activity to date related to this program:

Expense recorded in 2019	$	24,139
Cash paid		(1,330	)
Foreign currency translation		35
Balance at December 31, 2019	$	22,844
Expense recorded in 2020		743
Cash paid		(10,813	)
Foreign currency translation		683
Balance at December 31, 2020	$	13,457
Cash paid		(8,447	)
Foreign currency translation		(96	)
Balance at April 3, 2021	$	4,914

The payment terms vary by country, but generally are paid in a lump sum at cessation of employment. Some payments are made over an extended period. The current portion of the liability is $3,479 and is included in other accrued expenses on the consolidated condensed balance sheet. The non-current portion of the liability is $1,435 and is included in other liabilities on the consolidated condensed balance sheet.

Income Taxes	3 Months Ended
Income Taxes	Apr. 03, 2021
Income Taxes [Abstract]
Income Taxes	Note 4 – Income Taxes The provision for income taxes consists of provisions for federal, state, and foreign income taxes. The effective tax rates for the periods ended April 3, 2021 and April 4, 2020 reflect the Company’s expected tax rate on reported income before income tax and tax adjustments. The Company operates in a global environment with significant operations in various jurisdictions outside the United States. Accordingly, the consolidated income tax rate is a composite rate reflecting the Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates. The Company adjusted its deferred tax balances by $12,127 upon the adoption of ASU No. 2020-06 on January 1, 2021, which was included in the cumulative-effect adjustment recorded to retained earnings. See Note 1. The Company recognized a tax benefit of $4,395 due to a change in tax regulations during the fiscal quarter ended April 3, 2021. During the fiscal quarter ended April 3, 2021, the liabilities for unrecognized tax benefits decreased by $1,485 on a net basis, primarily due to a payment and currency translation adjustments, partially offset by accruals for current year tax positions and interest.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Long-Term Debt

3 Months Ended

Apr. 03, 2021

Long-Term Debt [Abstract]

Long-Term Debt

Note 5 – Long-Term Debt

Long-term debt consists of the following:

	April 3, 2021			December 31, 2020

Credit facility	$	-		$	-
Convertible senior notes, due 2025		465,344			406,268
Convertible senior debentures, due 2040		-			130
Deferred financing costs		(12,131	)		(11,512	)
		453,213			394,886
Less current portion		-			-
	$	453,213		$	394,886

The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2025 as of April 3, 2021:

	Convertible Senior Notes Due 2025
Issuance date	June 12, 2018
Maturity date	June 15, 2025
Principal amount as of April 3, 2021	$	465,344
Cash coupon rate (per annum)		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		5.50	%
Conversion rate effective March 16, 2021 (per $1 principal amount)		31.8965
Effective conversion price effective March 16, 2021 (per share)	$	31.35
% of the conversion price (per share)	$	40.76
Call date		n/a

Effective January 1, 2021, Vishay adopted ASU No. 2020-06. Upon adoption, Vishay derecognized the bifurcated equity component, debt discount, and deferred taxes and remeasured the deferred financing costs associated with its convertible debt instruments. See Note 1. The carrying value of Vishay's convertible debt instruments is now equal to the outstanding principal amount and interest expense is now equal to the cash interest paid. The remeasured deferred financing costs continue to be recognized as non-cash interest expense.

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; (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 notes due 2025 are not currently convertible.

Upon conversion of the convertible senior notes due 2025, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in common stock.

The quarterly cash dividend program of the Company results in adjustments to the conversion rate and effective conversion price for the convertible senior notes due 2025 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.

As of December 31, 2020, there were $300 of convertible senior debentures due 2040 outstanding. On January 5, 2021, Vishay gave notice to the holders of its convertible senior debentures due 2040 that Vishay would redeem the debentures on February 4, 2021. The redemption price was paid in cash and was equal to 100% of the principal amount plus accrued but unpaid interest to, but excluding February 4, 2021.

The carrying value of the convertible senior notes due 2025 was $465,344 as of April 3, 2021. The carrying value of the liability and equity components of the convertible debt instruments prior to the adoption of ASU No. 2020-06 are reflected in the Company’s consolidated condensed balance sheet as follows:

	Principal amount of the debt instruments		Unamortized discount			Carrying value of liability component		Equity component (including temporary equity) -net carrying value
December 31, 2020
Convertible senior notes due 2025	$	465,344		(59,076	)	$	406,268	$	66,127
Convertible senior debentures due 2040	$	300		(170	)	$	130	$	121
Total	$	465,644	$	(59,246	)	$	406,398	$	66,248

Interest is payable on the convertible debt instruments semi-annually at the cash coupon rate. Prior to the adoption of ASU 2020-06 on January 1, 2021, the debt discount associated with the convertible debt instruments was 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.

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		Other non-cash interest expense		Total interest expense related to the debt instruments
April 3, 2021
Convertible senior notes due 2025	$	2,618		-		433	$	3,051

April 4, 2020
Convertible senior notes due 2025	$	3,375		3,617		454	$	7,446
Convertible senior debentures	$	44		20		-	$	64
Total	$	3,419	$	3,637	$	454	$	7,510

Other non-cash interest expense includes amortization of deferred financing costs. Interest expense related to the convertible senior debentures was immaterial in 2021.

Revenue Recognition

3 Months Ended

Apr. 03, 2021

Revenue Recognition [Abstract]

Revenue Recognition

Note 6 – Revenue Recognition

Sales returns and allowances accrual activity is shown below:

	Fiscal quarters ended
	April 3, 2021			April 4, 2020
Beginning balance	$	39,629		$	40,508
Sales allowances		23,796			22,632
Credits issued		(28,446	)		(27,982	)
Foreign currency		(530	)		(346	)
Ending balance	$	34,449		$	34,812

See disaggregated revenue information in Note 10.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Name Accounting Standards Codification
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+ Details

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 03, 2021

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, 2021	$	(77,075	)	$	90,634		$	13,559
Other comprehensive income before reclassifications		-			(26,949	)	$	(26,949	)
Tax effect		-			-		$	-
Other comprehensive income before reclassifications, net of tax		-			(26,949	)	$	(26,949	)
Amounts reclassified out of AOCI		2,659			-		$	2,659
Tax effect		(795	)		-		$	(795	)
Amounts reclassified out of AOCI, net of tax		1,864			-		$	1,864
Net other comprehensive income	$	1,864		$	(26,949	)	$	(25,085	)
Balance at April 3, 2021	$	(75,211	)	$	63,685		$	(11,526	)

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

3 Months Ended

Apr. 03, 2021

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. The service cost component of net periodic pension cost is classified in costs of products sold or selling, general, and administrative expenses on the consolidated condensed statements of operations based on the respective employee's function. The other components of net periodic pension cost are classified as other expense on the consolidated condensed statements of operations.

Defined Benefit Pension Plans

The following table shows the components of the net periodic pension cost for the first fiscal quarters of 2021 and 2020 for the Company’s defined benefit pension plans:

	Fiscal quarter ended April 3, 2021					Fiscal quarter ended April 4, 2020
	U.S. Plans		Non-U.S. Plans			U.S. Plans		Non-U.S. Plans

Net service cost	$	-	$	1,190		$	-	$	1,074
Interest cost		254		754			342		924
Expected return on plan assets		-		(417	)		-		(495	)
Amortization of prior service cost		36		51			36		30
Amortization of losses		447		1,884			298		1,592
Curtailment and settlement losses		-		199			-		229
Net periodic benefit cost	$	737	$	3,661		$	676	$	3,354

Other Postretirement Benefits

The following table shows the components of the net periodic benefit cost for the first fiscal quarters of 2021 and 2020 for the Company’s other postretirement benefit plans:

	Fiscal quarter ended April 3, 2021				Fiscal quarter ended April 4, 2020
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans

Service cost	$	25	$	71	$	28	$	69
Interest cost		41		11		59		15
Amortization of losses (gains)		13		29		7		31
Net periodic benefit cost	$	79	$	111	$	94	$	115

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Stock-Based Compensation

3 Months Ended

Apr. 03, 2021

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
	April 3, 2021		April 4, 2020

Restricted stock units	$	3,911	$	2,783
Phantom stock units		209		215
Total	$	4,120	$	2,998

The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at April 3, 2021 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods

Restricted stock units	$	5,885		1.1
Phantom stock units		-		n/a
Total	$	5,885

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.

Restricted Stock Units

RSU activity under the 2007 Program as of April 3, 2021 and changes during the three 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, 2021		793		$	18.90
Granted		319			22.07
Vested*		(235	)		18.79
Cancelled or forfeited		-			-
Outstanding at April 3, 2021		877		$	20.08

Expected to vest at April 3, 2021		877

* 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, 2022		174		-		174
January 1, 2023		152		-		152
January 1, 2024		165		-		165

Phantom Stock Units

Phantom stock unit activity under the phantom stock plan as of April 3, 2021 and changes during the three 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, 2021		198
Granted		10	$	20.89
Dividend equivalents issued		1
Outstanding at April 3, 2021		209

Segment Information

3 Months Ended

Apr. 03, 2021

Segment Information [Abstract]

Segment Information

Note 10 – Segment Information

The following tables set forth business segment information:

	MOSFETs		Diodes		Optoelectronic Components		Resistors		Inductors		Capacitors		Corporate / Other*			Total
Fiscal quarter ended April 3, 2021:
Net revenues	$	153,223	$	157,178	$	77,771	$	186,602	$	83,458	$	106,400	$	-		$	764,632

Gross profit	$	37,108	$	34,416	$	25,626	$	53,973	$	27,751	$	24,075	$	-		$	202,949

Segment operating income	$	27,207	$	28,821	$	21,210	$	47,376	$	25,290	$	18,863	$	-		$	168,767

Fiscal quarter ended April 4, 2020:
Net revenues	$	116,893	$	115,343	$	54,179	$	159,208	$	73,785	$	93,433	$	-		$	612,841

Gross profit	$	28,152	$	19,518	$	14,585	$	44,773	$	22,987	$	20,355	$	(3,130	)	$	147,240

Segment operating income	$	18,658	$	14,422	$	10,686	$	38,885	$	20,310	$	15,070	$	(3,130	)	$	114,901

*Amounts reported in Corporate/Other above represent unallocated costs directly related to the COVID-19 pandemic, which are reported as costs of products sold on the consolidated condensed statement of operations.

	Fiscal quarters ended
	April 3, 2021			April 4, 2020
Reconciliation:
Segment Operating Income	$	168,767		$	114,901
Impact of COVID-19 Pandemic on Selling, General, and Administrative Expenses		-			(317	)
Unallocated Selling, General, and Administrative Expenses		(71,503	)		(67,176	)
Consolidated Operating Income	$	97,264		$	47,408
Unallocated Other Income (Expense)		(10,107	)		(11,274	)
Consolidated Income Before Taxes	$	87,157		$	36,134

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
	April 3, 2021		April 4, 2020
Distributors	$	424,125	$	305,446
OEMs		294,637		261,129
EMS companies		45,870		46,266
Total Revenue	$	764,632	$	612,841

Net revenues were attributable to customers in the following regions:

	Fiscal quarters ended
	April 3, 2021		April 4, 2020
Asia	$	322,460	$	217,084
Europe		268,323		233,052
Americas		173,849		162,705
Total Revenue	$	764,632	$	612,841

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
	April 3, 2021		April 4, 2020
Industrial	$	270,801	$	215,111
Automotive		255,973		201,943
Telecommunications		24,902		29,692
Computing		59,899		45,223
Consumer Products		40,795		20,553
Power Supplies		35,246		25,194
Military and Aerospace		41,538		43,935
Medical		35,478		31,190
Total revenue	$	764,632	$	612,841

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

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+ Details

Earnings Per Share

3 Months Ended

Apr. 03, 2021

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
	April 3, 2021		April 4, 2020

Numerator:
Net earnings attributable to Vishay stockholders	$	71,435	$	27,219

Denominator:
Denominator for basic earnings per share:
Weighted average shares		144,760		144,599
Outstanding phantom stock units		208		193
Adjusted weighted average shares - basic		144,968		144,792

Effect of dilutive securities:
Convertible debt instruments		9		95
Restricted stock units		486		408
Dilutive potential common shares		495		503

Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		145,463		145,295

Basic earnings per share attributable to Vishay stockholders	$	0.49	$	0.19

Diluted earnings per share attributable to Vishay stockholders	$	0.49	$	0.19

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
	April 3, 2021		April 4, 2020
Convertible debt instruments:
Convertible senior notes due 2025		-		19,088
Convertible senior debentures due 2041		-		88
Weighted average other		317		325

If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in common stock. Accordingly, the notes are not anti-dilutive when the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

Fair Value Measurements

3 Months Ended

Apr. 03, 2021

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
April 3, 2021
Assets:
Assets held in rabbi trusts	$	56,143	$	31,352	$	24,791	$	-
Available for sale securities	$	4,641		4,641		-		-
	$	60,784	$	35,993	$	24,791	$	-
December 31, 2020
Assets:
Assets held in rabbi trusts	$	57,892	$	34,145		23,747	$	-
Available for sale securities	$	4,917		4,917		-		-
	$	62,809	$	39,062	$	23,747	$	-

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 debt 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 Company enters into forward contracts with highly-rated financial institutions to mitigate the foreign currency risk associated with intercompany loans denominated in a currency other than the legal entity's functional currency. The notional amount of the forward contracts was $100,000 as of April 3, 2021 and December 31, 2020. The forward contracts are short-term in nature and are expected to be renewed at the Company's discretion until the intercompany loans are repaid. We have not designated the forward contracts as hedges for accounting purposes, and as such the change in the fair value of the contracts is recognized in the consolidated condensed statement of operations as a component of other income (expense). The Company estimates the fair value of the forward contracts based on applicable and commonly used pricing models using current market information and is considered a Level 2 measurement within the fair value hierarchy. The value of the forward contracts was immaterial as of April 3, 2021 and December 31, 2020. The Company does not utilize derivatives or other financial instruments for trading or other speculative purposes.

The fair value of the long-term debt, excluding the derivative liabilities and deferred financing costs, at April 3, 2021 and December 31, 2020 is approximately $517,700 and $491,400, respectively, compared to its carrying value, excluding the deferred financing costs, of $465,344 and $406,398, 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 April 3, 2021 and December 31, 2020, 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 April 3, 2021 and December 31, 2020, 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

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Apr. 03, 2021
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 2021 end on April 3, 2021, July 3, 2021, October 2, 2021, and December 31, 2021, respectively. The four fiscal quarters in 2020 ended on April 4, 2020, July 4, 2020, October 3, 2020, and December 31, 2020, respectively.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance In August 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-06, Debt – Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU simplifies the accounting for certain financial instruments with characteristics of liability and equity, including convertible debt instruments. The ASU reduces the number of accounting models available for convertible debt instruments, requires the use of the if-converted method for the calculation of diluted earnings per share for convertible debt instruments, and increases disclosure requirements. The Company adopted the ASU effective January 1, 2021 using a modified retrospective approach. Upon adoption, Company recorded a $66,078 decrease in additional paid in capital from the derecognition of the bifurcated equity component of the convertible debt instruments, a $59,246 increase in debt from the derecognition of the discount associated with the bifurcated equity component of the convertible debt instruments and a $20,566 increase to the opening balance of retained earnings, representing the cumulative interest expense, net of tax effects, recognized related to the amortization of the bifurcated conversion option. The adoption of the ASU did not have a significant impact on the diluted sharecount due to Vishay exercising existing rights to legally amend the indenture governing the convertible senior notes due 2025. See Note 5.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Income Taxes (Policies)	3 Months Ended
Income Taxes (Policies)	Apr. 03, 2021
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 April 3, 2021 and April 4, 2020 reflect the Company’s expected tax rate on reported income before income tax and tax adjustments. The Company operates in a global environment with significant operations in various jurisdictions outside the United States. Accordingly, the consolidated income tax rate is a composite rate reflecting the Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates.

Stock-Based Compensation (Policies)	3 Months Ended
Stock-Based Compensation (Policies)	Apr. 03, 2021
Stock-Based Compensation [Abstract]
Share-based Compensation, Option and Incentive Plans Policy	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.

Earnings Per Share (Policies)	3 Months Ended
Earnings Per Share (Policies)	Apr. 03, 2021
Earnings Per Share [Abstract]
Discussion on convertible debt included in computation of earnings per share diluted	If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025. Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in common stock. Accordingly, the notes are not anti-dilutive when the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

Fair Value Measurements (Policies)	3 Months Ended
Fair Value Measurements (Policies)	Apr. 03, 2021
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.

Leases (Tables)

3 Months Ended

Apr. 03, 2021

Leases [Abstract]

Right of Use Assets and Lease Liabilities

The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows:

	April 3, 2021		December 31, 2020
Right of use assets
Operating Leases
Buildings and improvements	$	92,951	$	97,429
Machinery and equipment		5,050		5,011
Total	$	98,001	$	102,440
Current lease liabilities
Operating Leases
Buildings and improvements	$	18,622	$	19,370
Machinery and equipment		2,653		2,704
Total	$	21,275	$	22,074
Long-term lease liabilities
Operating Leases
Buildings and improvements	$	79,895	$	83,926
Machinery and equipment		2,365		2,294
Total	$	82,260	$	86,220
Total lease liabilities	$	103,535	$	108,294

Lease Expense

Lease expense is classified on the statement of operations based on asset use. Total lease cost recognized on the consolidated condensed statements of operations is as follows:

	Fiscal quarters ended
	April 3, 2021		April 4, 2020
Lease expense
Operating lease expense	$	6,152	$	5,652
Short-term lease expense		325		194
Variable lease expense		127		23
Total lease expense	$	6,604	$	5,869

Undiscounted Future Lease Payments for Operating Lease Liabilities

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

	April 3, 2021
2021 (excluding the three fiscal months ended April 3, 2021)	$	16,736
2022		19,360
2023		16,198
2024		14,165
2025		13,026
Thereafter		54,010

Restructuring and Related Activities (Tables)

3 Months Ended

Apr. 03, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Expenses

The following table summarizes the activity to date related to this program:

Expense recorded in 2019	$	24,139
Cash paid		(1,330	)
Foreign currency translation		35
Balance at December 31, 2019	$	22,844
Expense recorded in 2020		743
Cash paid		(10,813	)
Foreign currency translation		683
Balance at December 31, 2020	$	13,457
Cash paid		(8,447	)
Foreign currency translation		(96	)
Balance at April 3, 2021	$	4,914

Long-Term Debt (Tables)

3 Months Ended

Apr. 03, 2021

Long-Term Debt [Abstract]

Long-term Debt Instruments

Long-term debt consists of the following:

	April 3, 2021			December 31, 2020

Credit facility	$	-		$	-
Convertible senior notes, due 2025		465,344			406,268
Convertible senior debentures, due 2040		-			130
Deferred financing costs		(12,131	)		(11,512	)
		453,213			394,886
Less current portion		-			-
	$	453,213		$	394,886

Key Facts and Terms of the Convertible Debt Instruments

The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2025 as of April 3, 2021:

	Convertible Senior Notes Due 2025
Issuance date	June 12, 2018
Maturity date	June 15, 2025
Principal amount as of April 3, 2021	$	465,344
Cash coupon rate (per annum)		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		5.50	%
Conversion rate effective March 16, 2021 (per $1 principal amount)		31.8965
Effective conversion price effective March 16, 2021 (per share)	$	31.35
% of the conversion price (per share)	$	40.76
Call date		n/a

Liability and Equity of Component of Convertible Debt Instruments

	Principal amount of the debt instruments		Unamortized discount			Carrying value of liability component		Equity component (including temporary equity) -net carrying value
December 31, 2020
Convertible senior notes due 2025	$	465,344		(59,076	)	$	406,268	$	66,127
Convertible senior debentures due 2040	$	300		(170	)	$	130	$	121
Total	$	465,644	$	(59,246	)	$	406,398	$	66,248

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		Other non-cash interest expense		Total interest expense related to the debt instruments
April 3, 2021
Convertible senior notes due 2025	$	2,618		-		433	$	3,051

April 4, 2020
Convertible senior notes due 2025	$	3,375		3,617		454	$	7,446
Convertible senior debentures	$	44		20		-	$	64
Total	$	3,419	$	3,637	$	454	$	7,510

Revenue Recognition (Tables)

3 Months Ended

Apr. 03, 2021

Revenue Recognition [Abstract]

Sales returns and allowances accrual activity

Sales returns and allowances accrual activity is shown below:

	Fiscal quarters ended
	April 3, 2021			April 4, 2020
Beginning balance	$	39,629		$	40,508
Sales allowances		23,796			22,632
Credits issued		(28,446	)		(27,982	)
Foreign currency		(530	)		(346	)
Ending balance	$	34,449		$	34,812

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12053-110248

+ Details

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Apr. 03, 2021

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, 2021	$	(77,075	)	$	90,634		$	13,559
Other comprehensive income before reclassifications		-			(26,949	)	$	(26,949	)
Tax effect		-			-		$	-
Other comprehensive income before reclassifications, net of tax		-			(26,949	)	$	(26,949	)
Amounts reclassified out of AOCI		2,659			-		$	2,659
Tax effect		(795	)		-		$	(795	)
Amounts reclassified out of AOCI, net of tax		1,864			-		$	1,864
Net other comprehensive income	$	1,864		$	(26,949	)	$	(25,085	)
Balance at April 3, 2021	$	(75,211	)	$	63,685		$	(11,526	)

Pensions and Other Postretirement Benefits (Tables)

3 Months Ended

Apr. 03, 2021

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 first fiscal quarters of 2021 and 2020 for the Company’s defined benefit pension plans:

	Fiscal quarter ended April 3, 2021					Fiscal quarter ended April 4, 2020
	U.S. Plans		Non-U.S. Plans			U.S. Plans		Non-U.S. Plans

Net service cost	$	-	$	1,190		$	-	$	1,074
Interest cost		254		754			342		924
Expected return on plan assets		-		(417	)		-		(495	)
Amortization of prior service cost		36		51			36		30
Amortization of losses		447		1,884			298		1,592
Curtailment and settlement losses		-		199			-		229
Net periodic benefit cost	$	737	$	3,661		$	676	$	3,354

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 first fiscal quarters of 2021 and 2020 for the Company’s other postretirement benefit plans:

	Fiscal quarter ended April 3, 2021				Fiscal quarter ended April 4, 2020
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans

Service cost	$	25	$	71	$	28	$	69
Interest cost		41		11		59		15
Amortization of losses (gains)		13		29		7		31
Net periodic benefit cost	$	79	$	111	$	94	$	115

Stock-Based Compensation (Tables)

3 Months Ended

Apr. 03, 2021

Stock-Based Compensation [Abstract]

Summary of Recognized Stock-based Compensation Expense

The following table summarizes stock-based compensation expense recognized:

	Fiscal quarters ended
	April 3, 2021		April 4, 2020

Restricted stock units	$	3,911	$	2,783
Phantom stock units		209		215
Total	$	4,120	$	2,998

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 April 3, 2021 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods

Restricted stock units	$	5,885		1.1
Phantom stock units		-		n/a
Total	$	5,885

RSU Activity

RSU activity under the 2007 Program as of April 3, 2021 and changes during the three 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, 2021		793		$	18.90
Granted		319			22.07
Vested*		(235	)		18.79
Cancelled or forfeited		-			-
Outstanding at April 3, 2021		877		$	20.08

Expected to vest at April 3, 2021		877

* 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, 2022		174		-		174
January 1, 2023		152		-		152
January 1, 2024		165		-		165

Phantom Stock Unit Activity Under the Phantom Stock Plan

Phantom stock unit activity under the phantom stock plan as of April 3, 2021 and changes during the three 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, 2021		198
Granted		10	$	20.89
Dividend equivalents issued		1
Outstanding at April 3, 2021		209

Segment Information (Tables)

3 Months Ended

Apr. 03, 2021

Segment Information [Abstract]

Segment Reporting Information by Segment

The following tables set forth business segment information:

	MOSFETs		Diodes		Optoelectronic Components		Resistors		Inductors		Capacitors		Corporate / Other*			Total
Fiscal quarter ended April 3, 2021:
Net revenues	$	153,223	$	157,178	$	77,771	$	186,602	$	83,458	$	106,400	$	-		$	764,632

Gross profit	$	37,108	$	34,416	$	25,626	$	53,973	$	27,751	$	24,075	$	-		$	202,949

Segment operating income	$	27,207	$	28,821	$	21,210	$	47,376	$	25,290	$	18,863	$	-		$	168,767

Fiscal quarter ended April 4, 2020:
Net revenues	$	116,893	$	115,343	$	54,179	$	159,208	$	73,785	$	93,433	$	-		$	612,841

Gross profit	$	28,152	$	19,518	$	14,585	$	44,773	$	22,987	$	20,355	$	(3,130	)	$	147,240

Segment operating income	$	18,658	$	14,422	$	10,686	$	38,885	$	20,310	$	15,070	$	(3,130	)	$	114,901

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

	Fiscal quarters ended
	April 3, 2021			April 4, 2020
Reconciliation:
Segment Operating Income	$	168,767		$	114,901
Impact of COVID-19 Pandemic on Selling, General, and Administrative Expenses		-			(317	)
Unallocated Selling, General, and Administrative Expenses		(71,503	)		(67,176	)
Consolidated Operating Income	$	97,264		$	47,408
Unallocated Other Income (Expense)		(10,107	)		(11,274	)
Consolidated Income Before Taxes	$	87,157		$	36,134

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
	April 3, 2021		April 4, 2020
Distributors	$	424,125	$	305,446
OEMs		294,637		261,129
EMS companies		45,870		46,266
Total Revenue	$	764,632	$	612,841

Net revenues were attributable to customers in the following regions:

	Fiscal quarters ended
	April 3, 2021		April 4, 2020
Asia	$	322,460	$	217,084
Europe		268,323		233,052
Americas		173,849		162,705
Total Revenue	$	764,632	$	612,841

	Fiscal quarters ended
	April 3, 2021		April 4, 2020
Industrial	$	270,801	$	215,111
Automotive		255,973		201,943
Telecommunications		24,902		29,692
Computing		59,899		45,223
Consumer Products		40,795		20,553
Power Supplies		35,246		25,194
Military and Aerospace		41,538		43,935
Medical		35,478		31,190
Total revenue	$	764,632	$	612,841

Earnings Per Share (Tables)

3 Months Ended

Apr. 03, 2021

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
	April 3, 2021		April 4, 2020

Numerator:
Net earnings attributable to Vishay stockholders	$	71,435	$	27,219

Denominator:
Denominator for basic earnings per share:
Weighted average shares		144,760		144,599
Outstanding phantom stock units		208		193
Adjusted weighted average shares - basic		144,968		144,792

Effect of dilutive securities:
Convertible debt instruments		9		95
Restricted stock units		486		408
Dilutive potential common shares		495		503

Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		145,463		145,295

Basic earnings per share attributable to Vishay stockholders	$	0.49	$	0.19

Diluted earnings per share attributable to Vishay stockholders	$	0.49	$	0.19

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

	Fiscal quarters ended
	April 3, 2021		April 4, 2020
Convertible debt instruments:
Convertible senior notes due 2025		-		19,088
Convertible senior debentures due 2041		-		88
Weighted average other		317		325

Fair Value Measurements (Tables)

3 Months Ended

Apr. 03, 2021

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
April 3, 2021
Assets:
Assets held in rabbi trusts	$	56,143	$	31,352	$	24,791	$	-
Available for sale securities	$	4,641		4,641		-		-
	$	60,784	$	35,993	$	24,791	$	-
December 31, 2020
Assets:
Assets held in rabbi trusts	$	57,892	$	34,145		23,747	$	-
Available for sale securities	$	4,917		4,917		-		-
	$	62,809	$	39,062	$	23,747	$	-

Basis of Presentation (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020	Apr. 04, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU	$ 217,214	$ 138,990
Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU	$ (45,512)	20,566	$ (1,070)
Long-term Debt [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU		59,246
Additional Paid-in Capital [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change for adoption of ASU		$ (66,078)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Apr. 04, 2020	Dec. 31, 2020
Assets and Liabilities [Abstract]
Right of use assets	$ 98,001		$ 102,440
Current lease liabilities	21,275		22,074
Long-term lease liabilities	82,260		86,220
Total lease liabilities	103,535		108,294
Lease expense [Abstract]
Operating lease expense	6,152	$ 5,652
Short-term lease expense	325	194
Variable lease expense	127	23
Total lease expense	6,604	5,869
Cash paid for operating leases	$ 6,161	$ 5,609
Weighted-average remaining lease term - operating leases	8 years 8 months 12 days
Weighted-average discount rate - operating leases	5.90%
Undiscounted future lease payments for operating lease liabilities [Abstract]
2021	$ 16,736
2022	19,360
2023	16,198
2024	14,165
2025	13,026
Thereafter	54,010
Building and Improvements [Member]
Assets and Liabilities [Abstract]
Right of use assets	92,951		97,429
Current lease liabilities	18,622		19,370
Long-term lease liabilities	79,895		83,926
Machinery and Equipment [Member]
Assets and Liabilities [Abstract]
Right of use assets	5,050		5,011
Current lease liabilities	2,653		2,704
Long-term lease liabilities	$ 2,365		$ 2,294

Restructuring and Related Activities (Details) - 2019 Global Cost Reduction and Management Rejuvenation Programs [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 03, 2021	Dec. 31, 2019	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, current	$ 3,479
Restructuring reserve, noncurrent	1,435
Restructuring Reserve [Roll Forward]
Restructuring and severance costs		$ 24,139	$ 743
Cash paid	(8,447)	(1,330)	(10,813)
Foreign currency translation	(96)	35	683
Balance at end of period	4,914	$ 22,844	$ 13,457
Expected restructuring costs	$ 24,882

Income Taxes (Details) $ in Thousands	3 Months Ended
Income Taxes (Details) $ in Thousands	Apr. 03, 2021 USD ($)
Income Taxes [Abstract]
Decrease in liabilities for unrecognized tax benefits	$ 1,485
Adoption of New Accounting Standard [Member]
Effect on Income Tax Expense (Benefit) [Line Items]
Deferred other tax expense (benefit)	12,127
Change in Tax Regulation [Member]
Effect on Income Tax Expense (Benefit) [Line Items]
Deferred other tax expense (benefit)	$ (4,395)

Long-Term Debt (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2021 USD ($) $ / shares	Apr. 04, 2020 USD ($)	Dec. 31, 2020 USD ($)
Debt Instruments [Abstract]
Credit facility	$ 0		$ 0
Deferred financing costs	(12,131)		(11,512)
Long-term debt	453,213		394,886
Less current portion	0		0
Long-term debt, less current portion	453,213		394,886
Interest expense [Abstract]
Contractual coupon interest		$ 3,419
Non-cash amortization of debt discount	0	3,637
Other non-cash interest expense (income)		454
Total interest expense related to the debentures		7,510
Purchase price of extinguished debt	300	19,849
Loss on extinguishment of debt, including the write-off of portion of unamortized debt issuance costs	0	(2,920)
Convertible Senior Notes, Due 2025 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 465,344		406,268
Issuance date	Jun. 12, 2018
Debt maturity date	Jun. 15, 2025
Cash coupon rate	2.25%
Nonconvertible debt borrowing rate at issuance	5.50%
Effective conversion rate	31.8965
Effective conversion price (in dollars per share) \| $ / shares	$ 31.35
130% of the conversion price (in dollars per share) \| $ / shares	$ 40.76
Debt instrument percentage of conversion price	130.00%
Debt instrument percentage of sales price of common stock	98.00%
Maximum threshold of quarterly cash dividends per share of common stock for not adjusting conversion rate of convertible notes \| $ / shares	$ 0.085
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt	$ 465,344
Interest expense [Abstract]
Contractual coupon interest	2,618	3,375
Non-cash amortization of debt discount	0	3,617
Other non-cash interest expense (income)	433	454
Total interest expense related to the debentures	3,051	7,446
Convertible Senior Debentures, Due 2040 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 0		130
Convertible Senior Debentures [Member]
Interest expense [Abstract]
Contractual coupon interest		44
Non-cash amortization of debt discount		20
Other non-cash interest expense (income)		0
Total interest expense related to the debentures		$ 64
Convertible Debt [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt			465,644
Unamortized discount			(59,246)
Carrying value of liability component			406,398
Equity component - net carrying value			66,248
Convertible Debt [Member] \| Convertible Senior Notes, Due 2025 [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt			465,344
Unamortized discount			(59,076)
Carrying value of liability component			406,268
Equity component - net carrying value			66,127
Convertible Debt [Member] \| Convertible Senior Debentures, Due 2040 [Member]
Liability and equity components of convertible debentures [Abstract]
Principal amount of debt			300
Unamortized discount			(170)
Carrying value of liability component			130
Equity component - net carrying value			$ 121

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Apr. 04, 2020
Sales returns and allowances accrual activity [Roll Forward]
Beginning balance	$ 39,629	$ 40,508
Sales allowances	23,796	22,632
Credits issued	(28,446)	(27,982)
Foreign currency	(530)	(346)
Ending balance	$ 34,449	$ 34,812

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance	$ 13,559
Other comprehensive income before reclassifications	(26,949)
Tax effect	0
Other comprehensive income before reclassifications, net of tax	(26,949)
Amounts reclassified out of AOCI	2,659
Tax effect	(795)
Amounts reclassified out of AOCI, net of tax	1,864
Net other comprehensive income	(25,085)	$ (21,528)
Ending Balance	(11,526)
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	(77,075)
Other comprehensive income before reclassifications	0
Tax effect	0
Other comprehensive income before reclassifications, net of tax	0
Amounts reclassified out of AOCI	2,659
Tax effect	(795)
Amounts reclassified out of AOCI, net of tax	1,864
Net other comprehensive income	1,864
Ending Balance	(75,211)
Currency Translation Adjustment [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance	90,634
Other comprehensive income before reclassifications	(26,949)
Tax effect	0
Other comprehensive income before reclassifications, net of tax	(26,949)
Amounts reclassified out of AOCI	0
Tax effect	0
Amounts reclassified out of AOCI, net of tax	0
Net other comprehensive income	(26,949)
Ending Balance	63,685
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance	13,559
Net other comprehensive income	(25,085)	$ (21,528)
Ending Balance	$ (11,526)

Pensions and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Defined Benefit Pension Plans [Member] \| U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	$ 0	$ 0
Interest cost	254	342
Expected return on plan assets	0	0
Amortization of prior service cost (credit)	36	36
Amortization of losses (gains)	447	298
Curtailment and settlement losses	0	0
Net periodic benefit cost	737	676
Defined Benefit Pension Plans [Member] \| Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	1,190	1,074
Interest cost	754	924
Expected return on plan assets	(417)	(495)
Amortization of prior service cost (credit)	51	30
Amortization of losses (gains)	1,884	1,592
Curtailment and settlement losses	199	229
Net periodic benefit cost	3,661	3,354
Other Postretirement Benefits [Member] \| U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	25	28
Interest cost	41	59
Amortization of losses (gains)	13	7
Net periodic benefit cost	79	94
Other Postretirement Benefits [Member] \| Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	71	69
Interest cost	11	15
Amortization of losses (gains)	29	31
Net periodic benefit cost	$ 111	$ 115

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

3 Months Ended

Apr. 03, 2021

Apr. 04, 2020

Share-based Compensation Arrangement by Share-based Payment Award

Stock-based compensation expense recognized

$ 4,120

$ 2,998

Unrecognized Compensation Cost

5,885

Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award

Stock-based compensation expense recognized

3,911

2,783

Unrecognized Compensation Cost

$ 5,885

Weighted Average Remaining Amortization Periods

1 year 1 month 6 days

Number of units [Abstract]

Outstanding (in shares)

793

Granted (in shares)

319

Vested (in shares)

^[1]

(235)

Cancelled or forfeited (in shares)

Outstanding (in shares)

877

Expected to vest (in shares)

877

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

Outstanding (in dollars per share)

$ 18.90

Granted (in dollars per share)

22.07

Vested (in dollars per share)

^[1]

18.79

Cancelled or forfeited (in dollars per share)

Outstanding (in dollars per share)

$ 20.08

Phantom Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award

Stock-based compensation expense recognized

$ 209

$ 215

Unrecognized Compensation Cost

$ 0

Number of units [Abstract]

Outstanding (in shares)

198

Granted (in shares)

Dividend equivalents issued (in shares)

Outstanding (in shares)

209

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

Granted (in dollars per share)

$ 20.89

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

Number of units [Abstract]

Outstanding (in shares)

174

Expected to vest (in shares)

174

Not expected to vest (in shares)

Scheduled to Vest January 1, 2023 [Member] | Performance Vested Restricted Stock Units [Member]

Number of units [Abstract]

Outstanding (in shares)

152

Expected to vest (in shares)

152

Not expected to vest (in shares)

Scheduled to Vest January 1, 2024 [Member] | Performance Vested Restricted Stock Units [Member]

Number of units [Abstract]

Outstanding (in shares)

165

Expected to vest (in shares)

165

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) - USD ($) $ in Thousands	3 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Apr. 04, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 764,632	$ 612,841
Gross profit	202,949	147,240
Unallocated Selling, General, and Administrative Expenses	(105,685)	(99,832)
Operating income	97,264	47,408
Unallocated Other Income (Expense)	(10,107)	(11,274)
Consolidated Income Before Taxes	87,157	36,134
Distributors [Member]
Segment Reporting Information [Line Items]
Net revenues	424,125	305,446
OEMs [Member]
Segment Reporting Information [Line Items]
Net revenues	294,637	261,129
EMS Companies [Member]
Segment Reporting Information [Line Items]
Net revenues	45,870	46,266
Industrial [Member]
Segment Reporting Information [Line Items]
Net revenues	270,801	215,111
Automotive [Member]
Segment Reporting Information [Line Items]
Net revenues	255,973	201,943
Telecommunications [Member]
Segment Reporting Information [Line Items]
Net revenues	24,902	29,692
Computing [Member]
Segment Reporting Information [Line Items]
Net revenues	59,899	45,223
Consumer Products [Member]
Segment Reporting Information [Line Items]
Net revenues	40,795	20,553
Power Supplies [Member]
Segment Reporting Information [Line Items]
Net revenues	35,246	25,194
Military and Aerospace [Member]
Segment Reporting Information [Line Items]
Net revenues	41,538	43,935
Medical [Member]
Segment Reporting Information [Line Items]
Net revenues	35,478	31,190
Asia [Member]
Segment Reporting Information [Line Items]
Net revenues	322,460	217,084
Europe [Member]
Segment Reporting Information [Line Items]
Net revenues	268,323	233,052
Americas [Member]
Segment Reporting Information [Line Items]
Net revenues	173,849	162,705
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	168,767	114,901
Operating Segments [Member] \| MOSFETS [Member]
Segment Reporting Information [Line Items]
Net revenues	153,223	116,893
Gross profit	37,108	28,152
Operating income	27,207	18,658
Operating Segments [Member] \| Diodes [Member]
Segment Reporting Information [Line Items]
Net revenues	157,178	115,343
Gross profit	34,416	19,518
Operating income	28,821	14,422
Operating Segments [Member] \| Optoelectronic Components [Member]
Segment Reporting Information [Line Items]
Net revenues	77,771	54,179
Gross profit	25,626	14,585
Operating income	21,210	10,686
Operating Segments [Member] \| Resistors [Member]
Segment Reporting Information [Line Items]
Net revenues	186,602	159,208
Gross profit	53,973	44,773
Operating income	47,376	38,885
Operating Segments [Member] \| Inductors [Member]
Segment Reporting Information [Line Items]
Net revenues	83,458	73,785
Gross profit	27,751	22,987
Operating income	25,290	20,310
Operating Segments [Member] \| Capacitors [Member]
Segment Reporting Information [Line Items]
Net revenues	106,400	93,433
Gross profit	24,075	20,355
Operating income	18,863	15,070
Operating Segments [Member] \| Corporate Other [Member]
Segment Reporting Information [Line Items]
Net revenues	0	0
Gross profit	0	(3,130)
Operating income	0	(3,130)
Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Impact of COVID-19 Pandemic on Selling, General, and Administrative Expenses	0	(317)
Unallocated Selling, General, and Administrative Expenses	(71,503)	(67,176)
Unallocated Other Income (Expense)	$ (10,107)	$ (11,274)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2021	Apr. 04, 2020
Numerator [Abstract]
Net earnings attributable to Vishay stockholders	$ 71,435	$ 27,219
Denominator [Abstract]
Weighted average shares (in shares)	144,760	144,599
Outstanding phantom stock units (in shares)	208	193
Adjusted weighted average shares - basic (in shares)	144,968	144,792
Effect of dilutive securities [Abstract]
Convertible and exchangeable debt instruments (in shares)	9	95
Restricted stock units (in shares)	486	408
Dilutive potential common shares (in shares)	495	503
Denominator for diluted earnings per share [Abstract]
Adjusted weighted average shares - diluted (in shares)	145,463	145,295
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.49	$ 0.19
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.49	$ 0.19
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)	0	19,088
Convertible Senior Debentures, Due 2041 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	88
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)	317	325

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Assets [Abstract]
Held-to-maturity Securities Transferred	$ 0	$ 0
Held-to-maturity Securities, Unrecognized Holding Gain	0	0
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities	0	0
Held-to-maturity Securities, Unrecognized Holding Loss	0	0
Liabilities [Abstract]
Long-term debt, fair value	517,700	491,400
Carrying value of long-term debt, excluding derivative liabilities	465,344	406,398
Derivative, Notional Amount	100,000	100,000
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	56,143	57,892
Available for sale securities	4,641	4,917
Fair value assets	60,784	62,809
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	31,352	34,145
Available for sale securities	4,641	4,917
Fair value assets	35,993	39,062
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	24,791	23,747
Available for sale securities	0	0
Fair value assets	24,791	23,747
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