Vishay Intertechnology (VSH) 10-Q9 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 01, 2023	Aug. 07, 2023
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jul. 01, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	011-07416
Entity Registrant Name	Vishay Intertechnology, Inc.
Entity Central Index Key	0000103730
Entity Incorporation, State or Country Code	DE
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
Title of 12(b) Security	Common stock, par value $0.10 per share
Trading Symbol	VSH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class B Convertible Common Stock [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		12,097,148
Common stock, par value $0.10 per share [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		126,946,545

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,089,420	$ 610,825
Short-term investments	14,366	305,272
Accounts receivable, net	453,250	416,178
Inventories:
Finished goods	169,775	156,234
Work in process	278,645	261,345
Raw materials	211,619	201,300
Total inventories	660,039	618,879
Prepaid expenses and other current assets	178,177	170,056
Total current assets	2,395,252	2,121,210
Property and equipment, at cost:
Land	76,872	75,907
Buildings and improvements	696,754	658,829
Machinery and equipment	2,961,214	2,857,636
Construction in progress	224,453	243,038
Allowance for depreciation	(2,786,772)	(2,704,951)
Property and equipment, net	1,172,521	1,130,459
Right of use assets	131,460	131,193
Deferred income taxes	106,210	104,667
Goodwill	203,940	201,432
Other intangible assets, net	75,111	77,896
Other assets	102,967	98,796
Total assets	4,187,461	3,865,653
Current liabilities:
Trade accounts payable	234,004	189,099
Payroll and related expenses	164,961	166,079
Lease liabilities	26,117	25,319
Other accrued expenses	249,382	261,606
Income taxes	83,910	84,155
Total current liabilities	758,374	726,258
Long-term debt less current portion	639,668	500,937
U.S. transition tax payable	46,117	83,010
Deferred income taxes	133,996	117,183
Long-term lease liabilities	107,149	108,493
Other liabilities	98,693	92,530
Accrued pension and other postretirement costs	189,022	187,092
Total liabilities	1,973,019	1,815,503
Vishay stockholders' equity
Common stock	13,316	13,291
Class B convertible common stock	1,210	1,210
Capital in excess of par value	1,354,753	1,352,321
Retained earnings	952,062	773,228
Treasury stock (at cost)	(123,371)	(82,972)
Accumulated other comprehensive income (loss)	12,655	(10,827)
Total Vishay stockholders' equity	2,210,625	2,046,251
Noncontrolling interests	3,817	3,899
Total equity	2,214,442	2,050,150
Total liabilities, temporary equity, and equity	$ 4,187,461	$ 3,865,653

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Consolidated Condensed Statements of Operations [Abstract]
Net revenues	$ 892,110	$ 863,512	$ 1,763,156	$ 1,717,305
Costs of products sold	634,637	602,289	1,226,970	1,196,974
Gross profit	257,473	261,223	536,186	520,331
Selling, general, and administrative expenses	122,857	110,400	243,002	223,255
Operating income	134,616	150,823	293,184	297,076
Other income (expense):
Interest expense	(6,404)	(4,307)	(11,524)	(8,529)
Other	5,257	1,380	8,586	(4,371)
Total other income (expense)	(1,147)	(2,927)	(2,938)	(12,900)
Income before taxes	133,469	147,896	290,246	284,176
Income tax expense	38,054	35,127	82,642	67,457
Net earnings	95,415	112,769	207,604	216,719
Less: net earnings attributable to noncontrolling interests	377	381	785	758
Net earnings attributable to Vishay stockholders	$ 95,038	$ 112,388	$ 206,819	$ 215,961
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.68	$ 0.78	$ 1.48	$ 1.49
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.68	$ 0.78	$ 1.47	$ 1.49
Weighted average shares outstanding - basic (in shares)	139,764	143,996	140,201	144,527
Weighted average shares outstanding - diluted (in shares)	140,478	144,397	140,865	144,978
Cash dividends per share (in dollars per share)	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 95,415	$ 112,769	$ 207,604	$ 216,719
Other comprehensive income (loss), net of tax
Pension and other post-retirement actuarial items	148	1,365	284	2,924
Foreign currency translation adjustment	3,475	(49,532)	23,198	(63,016)
Other comprehensive income (loss)	3,623	(48,167)	23,482	(60,092)
Comprehensive income	99,038	64,602	231,086	156,627
Less: comprehensive income attributable to noncontrolling interests	377	381	785	758
Comprehensive income attributable to Vishay stockholders	$ 98,661	$ 64,221	$ 230,301	$ 155,869

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022
Operating activities
Net earnings	$ 207,604	$ 216,719
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	87,694	80,967
(Gain) loss on disposal of property and equipment	(495)	(293)
Inventory write-offs for obsolescence	18,023	10,777
Stock compensation expense	6,082	4,889
Deferred income taxes	16,166	5,922
Other operating activities	(811)	1,844
Change in U.S. transition tax liability	(27,670)	(14,757)
Change in repatriation tax liability	0	(25,201)
Net change in operating assets and liabilities	(69,461)	(172,555)
Net cash provided by operating activities	237,132	108,312
Investing activities
Capital expenditures	(117,250)	(95,700)
Proceeds from sale of property and equipment	1,013	377
Purchase of businesses, net of cash received	(5,003)	0
Purchase of short-term investments	(41)	(7,769)
Maturity of short-term investments	293,282	66,763
Other investing activities	(892)	(199)
Net cash provided by (used in) investing activities	171,109	(36,528)
Financing activities
Issuance costs	(6,120)	0
Net proceeds (payments) on revolving credit lines	143,000	6,000
Repurchase of common stock held in treasury	(40,399)	(36,161)
Distributions to noncontrolling interests	(867)	(733)
Cash withholding taxes paid when shares withheld for vested equity awards	(3,653)	(2,123)
Net cash provided by (used in) financing activities	64,004	(61,825)
Effect of exchange rate changes on cash and cash equivalents	6,350	(18,474)
Net increase (decrease) in cash and cash equivalents	478,595	(8,515)
Cash and cash equivalents at beginning of period	610,825	774,108
Cash and cash equivalents at end of year	1,089,420	765,593
Common Stock [Member]
Financing activities
Dividends paid to common stockholders	(25,538)	(26,389)
Class B Convertible Common Stock [Member]
Financing activities
Dividends paid to common stockholders	$ (2,419)	$ (2,419)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Equity - USD ($) $ in Thousands	Capital In Excess of Par Value [Member]	Retained Earnings (Accumulated Deficit) [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Vishay Stockholders' Equity [Member]	Noncontrolling Interests [Member]	Total	Common Stock [Member] Common Stock [Member]	Class B Convertible Common Stock [Member] Common Stock [Member]
Balance at period start at Dec. 31, 2021	$ 1,347,830	$ 401,694	$ 0	$ (20,252)	$ 1,743,753	$ 2,967	$ 1,746,720	$ 13,271	$ 1,210
Net earnings	0	103,573	0	0	103,573	377	103,950	0	0
Other comprehensive income	0	0	0	(11,925)	(11,925)	0	(11,925)	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(2,142)	0	0	0	(2,123)	0	(2,123)	19	0
Dividends declared	22	(14,491)	0	0	(14,469)	0	(14,469)	0	0
Stock compensation expense	3,842	0	0	0	3,842	0	3,842	0	0
Repurchase of common stock held in treasury	0	0	(9,873)	0	(9,873)	0	(9,873)	0	0
Balance at period end at Apr. 02, 2022	1,349,552	490,776	(9,873)	(32,177)	1,812,778	3,344	1,816,122	13,290	1,210
Balance at period start at Dec. 31, 2021	1,347,830	401,694	0	(20,252)	1,743,753	2,967	1,746,720	13,271	1,210
Net earnings							216,719
Other comprehensive income							(60,092)
Balance at period end at Jul. 02, 2022	1,350,620	588,803	(36,161)	(80,344)	1,837,419	2,992	1,840,411	13,291	1,210
Balance at period start at Apr. 02, 2022	1,349,552	490,776	(9,873)	(32,177)	1,812,778	3,344	1,816,122	13,290	1,210
Net earnings	0	112,388	0	0	112,388	381	112,769	0	0
Other comprehensive income	0	0	0	(48,167)	(48,167)	0	(48,167)	0	0
Distributions to noncontrolling interests	0	0	0	0	0	(733)	(733)	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(1)	0	0	0	0	0	0	1	0
Dividends declared	22	(14,361)	0	0	(14,339)	0	(14,339)	0	0
Stock compensation expense	1,047	0	0	0	1,047	0	1,047	0	0
Repurchase of common stock held in treasury	0	0	(26,288)	0	(26,288)	0	(26,288)	0	0
Balance at period end at Jul. 02, 2022	1,350,620	588,803	(36,161)	(80,344)	1,837,419	2,992	1,840,411	13,291	1,210
Balance at period start at Dec. 31, 2022	1,352,321	773,228	(82,972)	(10,827)	2,046,251	3,899	2,050,150	13,291	1,210
Net earnings	0	111,781	0	0	111,781	408	112,189	0	0
Other comprehensive income	0	0	0	19,859	19,859	0	19,859	0	0
Issuance of stock and related tax withholdings for vested restricted stock units	(3,678)	0	0	0	(3,653)	0	(3,653)	25	0
Dividends declared	14	(14,034)	0	0	(14,020)	0	(14,020)	0	0
Stock compensation expense	2,965	0	0	0	2,965	0	2,965	0	0
Repurchase of common stock held in treasury	0	0	(20,173)	0	(20,173)	0	(20,173)	0	0
Balance at period end at Apr. 01, 2023	1,351,622	870,975	(103,145)	9,032	2,143,010	4,307	2,147,317	13,316	1,210
Balance at period start at Dec. 31, 2022	1,352,321	773,228	(82,972)	(10,827)	2,046,251	3,899	2,050,150	13,291	1,210
Net earnings							207,604
Other comprehensive income							23,482
Balance at period end at Jul. 01, 2023	1,354,753	952,062	(123,371)	12,655	2,210,625	3,817	2,214,442	13,316	1,210
Balance at period start at Apr. 01, 2023	1,351,622	870,975	(103,145)	9,032	2,143,010	4,307	2,147,317	13,316	1,210
Net earnings	0	95,038	0	0	95,038	377	95,415	0	0
Other comprehensive income	0	0	0	3,623	3,623	0	3,623	0	0
Distributions to noncontrolling interests	0	0	0	0	0	(867)	(867)	0	0
Dividends declared	14	(13,951)	0	0	(13,937)	0	(13,937)	0	0
Stock compensation expense	3,117	0	0	0	3,117	0	3,117	0	0
Repurchase of common stock held in treasury	0	0	(20,226)	0	(20,226)	0	(20,226)	0	0
Balance at period end at Jul. 01, 2023	$ 1,354,753	$ 952,062	$ (123,371)	$ 12,655	$ 2,210,625	$ 3,817	$ 2,214,442	$ 13,316	$ 1,210

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Jul. 01, 2023	Apr. 01, 2023	Jul. 02, 2022	Apr. 02, 2022
Consolidated Condensed Statements of Equity (Parenthetical) [Abstract]
Restricted stock issuances (in shares)		254,513	11,308	189,731
Stock repurchase (in shares)	847,202	916,221	1,400,039	513,227
Dividends declared (in dollars per share)	$ 0.1	$ 0.1	$ 0.1	$ 0.1

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jul. 01, 2023
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, 2022. The results of operations for the fiscal quarter and six fiscal months ended July 1, 2023 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 2023 end on April 1, 2023, July 1, 2023, September 30, 2023, and December 31, 2023, respectively. The four fiscal quarters in 2022 ended on April 2, 2022, July 2, 2022, October 1, 2022, and December 31, 2022, respectively. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Acquisition and Divestiture Act

Acquisition and Divestiture Activities	6 Months Ended
Acquisition and Divestiture Activities	Jul. 01, 2023
Acquisition and Divestiture Activities [Abstract]
Acquisition and Divestiture Activities	Note 2 As part of its growth strategy, the Company seeks to expand through targeted acquisitions of other manufacturers of electronic components. These acquisition targets include businesses 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. It also includes certain businesses that possess technologies which the Company expects to further develop and commercialize. MaxPower Semiconductor, Inc. On October 28, 2022, the Company acquired all of the outstanding equity interests of MaxPower Semiconductor, Inc. ("MaxPower"), a San Jose, California-based fabless power semiconductor provider dedicated to delivering innovative and cost-effective technologies that optimize power management solutions. The acquisition of MaxPower will enhance the Company's current and future silicon carbide ("SiC") offerings for fast-growing markets such as electric vehicles. The Company paid cash of $50,000, net of cash acquired, at closing. Related to the transaction, Vishay may also be required to make certain contingent payments of up to $57,500, which would be payable upon the achievement of certain technology milestones, upon favorable resolution of certain technology licensing matters with a third party, and upon the disposition of MaxPower's investment in an equity affiliate. The purchase price for U.S. GAAP purposes includes the fair value, as of the acquisition date, of certain future contingent payments to non-employee equity holders of MaxPower. The estimated fair value of this contingent consideration as of the acquisition date was $6,851. The contingent consideration liability is included in other accrued expenses and other liabilities in the accompanying balance sheet and is remeasured each reporting period, with changes reported as selling, general, and administrative expenses on the consolidated condensed statement of operations. See Note 13 for further discussion on the fair value measurement. Based on an estimate of their fair values, the Company allocated $18,600 of the purchase price to definite-lived intangible assets. After allocating the purchase price to the assets acquired and liabilities assumed based on a preliminary estimation of their fair values at the date of acquisition, the Company recorded goodwill of $36,885 related to this acquisition. The goodwill related to this acquisition is included in the MOSFETs reporting unit for goodwill impairment testing. The purchase price allocation for this acquisition is considered preliminary as the Company is awaiting further information about the contingent payments. The estimated values of definite-lived intangible assets and goodwill have not changed as of July 1, 2023. The results and operations of this acquisition have been included in the MOSFETs segment since October 28, 2022. Centerline Technologies, LLC On June 30, 2023, the Company acquired substantially all of the assets of Centerline Technologies, LLC ("Centerline"), a Massachusetts-based, privately held manufacturer of ceramic components used in many custom parts manufactured by certain of Vishay's Resistors businesses, for $5,003. Based on an estimate of fair values, the Company allocated $1,500 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 $2,213 related to this acquisition. The acquired business will be vertically integrated into the Company's Resistors segment, and the goodwill related to this acquisition is included in the Resistors reporting unit for goodwill impairment testing.

Leases

Leases	6 Months Ended
Leases	Jul. 01, 2023
Leases [Abstract]
Leases	Note 3 – Leases The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as follows: July 1, 2023 December 31, 2022 Right of use assets Operating Leases Buildings and improvements $ 126,458 $ 126,933 Machinery and equipment 5,002 4,260 Total $ 131,460 $ 131,193 Current lease liabilities Operating Leases Buildings and improvements $ 23,456 $ 22,926 Machinery and equipment 2,661 2,393 Total $ 26,117 $ 25,319 Long-term lease liabilities Operating Leases Buildings and improvements $ 104,893 $ 106,693 Machinery and equipment 2,256 1,800 Total $ 107,149 $ 108,493 Total lease liabilities $ 133,266 $ 133,812 Lease expense is classified in the statements of operations based on asset use. Total lease cost recognized on the consolidated condensed statements of operations is as follows: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Lease expense Operating lease expense $ 6,887 $ 6,304 $ 13,768 $ 12,756 Short-term lease expense 252 236 508 540 Variable lease expense 159 - 311 100 Total lease expense $ 7,298 $ 6,540 $ 14,587 $ 13,396 The Company paid $13,966 and $12,241 for its operating leases in the six fiscal months ended July 1, 2023 and July 2, 2022, 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 9.6 years and the weighted-average discount rate is 6.2% as of July 1, 2023. The undiscounted future lease payments for the Company's operating lease liabilities are as follows: July 1, 2023 2023 (excluding the six fiscal months ended July 1, 2023) $ 13,840 2024 25,985 2025 22,556 2026 18,778 2027 17,258 Thereafter 80,762 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.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 01, 2023
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 July 1, 2023 and July 2, 2022 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. During the six fiscal months ended July 1, 2023, the liabilities for unrecognized tax benefits increased by $616 on a net basis, primarily due to currency translation adjustments, accruals for current year tax positions, and interest.

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Jul. 01, 2023
Long-Term Debt [Abstract]
Long-Term Debt	Note 5 – Long-Term Debt Long-term debt consists of the following: July 1, 2023 December 31, 2022 Credit facility $ 185,000 $ 42,000 Convertible senior notes, due 2025 465,344 465,344 Deferred financing costs (10,676 ) (6,407 ) 639,668 500,937 Less current portion - - $ 639,668 $ 500,937 The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2025 as of July 1, 2023: Convertible Senior Notes Due 2025 Issuance date June 12, 2018 Maturity date June 15, 2025 Principal amount as of July 1, 2023 $ 465,344 Cash coupon rate (per annum) 2.25 % Nonconvertible debt borrowing rate at issuance (per annum) 5.50 % Conversion rate effective June 15, 2023 (per $1 principal amount) 32.0879 Effective conversion price effective June 15, 2023 (per share) $ 31.16 130% of the current effective conversion price (per share) $ 40.51 Prior to December 15, 2024, the holders of the convertible senior notes due 2025 may convert their notes only under the following circumstances: (1) 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. Credit Facility The Company maintains a credit facility with a consortium of banks led by JPMorgan Chase Bank, N.A., as administrative agent, and the lenders, which was scheduled to mature on June 5, 2024 (the "Previous Credit Facility"). On May 8, 2023, the Company entered into an Amendment and Restatement Agreement, which provides an aggregate commitment of $750,000 of revolving loans available until May 8, 2028 (the “Amended and Restated Credit Facility”). The maturity date of the Amended and Restated Credit Facility will accelerate if within ninety-one days prior to the maturity of the Company’s convertible senior notes due 2025, the outstanding principal amount of such notes exceeds a defined liquidity measure as set forth in the Amended and Restated Credit Facility. U.S. Dollar borrowings under the Amended and Restated Credit Facility bear interest at the Secured Overnight Financing Rate (“SOFR”) plus a credit spread and an interest margin. The Amended and Restated Credit Facility also allows for borrowings in euro, British sterling, and Japanese yen, subject to a $250,000 limit. Borrowings in foreign currency bear interest at a local reference rate plus an interest margin. The applicable interest margin is based on Vishay's total leverage ratio. Based on Vishay's current total leverage ratio, borrowings bear interest at SOFR plus 1.60%, including the applicable credit spread. Vishay also pays a commitment fee, also based on its total leverage ratio, on undrawn amounts. The undrawn commitment fee, based on Vishay's current total leverage ratio, is 0.25% per annum. Similar to the Previous Credit Facility, the Amended and Restated Credit Facility requires the maintenance of financial covenant ratios. For compliance purposes, pursuant to the Amended and Restated Credit Facility, the leverage ratio is computed on a net basis, reducing the measure of outstanding debt by up to $250,000 of unrestricted cash. The Company must maintain a net leverage ratio of at least 3.25 to 1.00. Permitted investments and restricted payments are also subject to a pro forma net leverage ratio (2.75 to 1.00 and 2.50 to 1.00, respectively). Other terms and conditions of the Amended and Restated Credit Facility are substantially similar to the Previous Credit Facility.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jul. 01, 2023
Stockholders' Equity Policy [Abstract]
Stockholders' Equity	Note 6 – Stockholders' Equity In 2022, the Company's Board of Directors adopted a Stockholder Return Policy that will remain in effect until such time as the Board votes to amend or rescind the policy. The Stockholder Return Policy calls for the Company to return a prescribed amount of cash flows on an annual basis. The Company intends to return such amounts directly, in the form of dividends, or indirectly, in the form of stock repurchases. The following table summarizes activity pursuant to this policy: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Dividends paid to stockholders $ 13,937 $ 14,339 $ 27,957 $ 28,808 Stock repurchases 20,226 26,288 40,399 36,161 Total $ 34,163 $ 40,627 $ 68,356 $ 64,969 The repurchased shares are being held as treasury stock. The number of shares of common stock being held as treasury stock was 6,003,996 and 4,240,573 as of July 1, 2023 and December 31, 2022, respectively.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jul. 01, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Note 7 – Revenue Recognition Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Beginning balance $ 38,280 $ 39,161 $ 46,979 $ 39,759 Sales allowances 26,297 19,040 52,134 46,417 Credits issued (16,853 ) (16,569 ) (50,128 ) (44,295 ) Foreign currency 1,626 (857 ) 365 (1,106 ) Ending balance $ 49,350 $ 40,775 $ 49,350 $ 40,775

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jul. 01, 2023
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 8 – 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, 2023 $ (7,598 ) $ (3,229 ) $ (10,827 ) Other comprehensive income (loss) before reclassifications - 23,198 $ 23,198 Tax effect - - $ - Other comprehensive income before reclassifications, net of tax - 23,198 $ 23,198 Amounts reclassified out of AOCI 355 - $ 355 Tax effect (71 ) - $ (71 ) Amounts reclassified out of AOCI, net of tax 284 - $ 284 Net other comprehensive income (loss) $ 284 $ 23,198 $ 23,482 Balance at July 1, 2023 $ (7,314 ) $ 19,969 $ 12,655 Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost. See Note 9 for further information.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
Pensions and Other Postretirement Benefits	Jul. 01, 2023
Pensions and Other Postretirement Benefits [Abstract]
Pensions and Other Postretirement Benefits	Note 9 – Pensions and Other Postretirement Benefits The Company maintains various retirement benefit plans. The service cost component of net periodic pension cost is classified in costs of products sold or selling, general, and administrative expenses on the consolidated condensed statements of operations based on the respective employee's function. The other components of net periodic pension cost are classified as other expense on the consolidated condensed statements of operations. Defined Benefit Pension Plans The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2023 and 2022 for the Company’s defined benefit pension plans: Fiscal quarter ended July 1, 2023 Fiscal quarter ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 723 $ - $ 1,068 Interest cost 500 1,711 281 813 Expected return on plan assets - (570 ) - (440 ) Amortization of prior service cost 36 56 36 53 Amortization of losses (gains) (30 ) 87 426 1,205 Curtailment and settlement losses - 106 - 265 Net periodic benefit cost $ 506 $ 2,113 $ 743 $ 2,964 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 1, 2023 and July 2, 2022 for the Company’s defined benefit pension plans: Six fiscal months ended July 1, 2023 Six fiscal months ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 1,447 $ - $ 2,185 Interest cost 999 3,406 561 1,665 Expected return on plan assets - (1,140 ) - (900 ) Amortization of prior service cost 72 111 72 109 Amortization of losses (gains) (60 ) 173 853 2,476 Curtailment and settlement losses - 213 - 544 Net periodic benefit cost $ 1,011 $ 4,210 $ 1,486 $ 6,079 Other Postretirement Benefits The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2023 and 2022 for the Company’s other postretirement benefit plans: Fiscal quarter ended July 1, 2023 Fiscal quarter ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 6 $ 34 $ 9 $ 60 Interest cost 56 31 44 14 Amortization of losses (gains) (81 ) 4 85 21 Net periodic benefit cost $ (19 ) $ 69 $ 138 $ 95 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 1, 2023 and July 2, 2022 for the Company’s other postretirement benefit plans: Six fiscal months ended July 1, 2023 Six fiscal months ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 11 $ 68 $ 19 $ 123 Interest cost 112 62 89 29 Amortization of losses (gains) (161 ) 7 171 44 Net periodic benefit cost $ (38 ) $ 137 $ 279 $ 196

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jul. 01, 2023
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 10 – Stock-Based Compensation 2023 Long-Term Incentive Plan The Company implemented the Vishay Intertechnology, Inc. 2023 Long-Term Incentive Plan (the "2023 Plan") after receiving stockholder approval at its 2023 Annual Meeting of Stockholders on May 23, 2023. The 2023 Plan allows the Company to grant up to 6,000,000 shares (subject to certain adjustments described in the 2023 Plan) of stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-based awards, phantom stock units, and other cash-based awards to employees, directors, consultants, and other service providers of the Company and its affiliates. Such instruments are available for grant until March 24, 2033. The Company granted approximately 733,000 time-vested restricted stock units to employees in the second fiscal quarter of 2023. 2007 Stock Incentive Program Under the Company's 2007 Stock Incentive Program (the "2007 Program"), as amended and restated, certain executive officers and board members of the Company were granted restricted stock units. No further awards will be granted pursuant to the 2007 Program. Pursuant to the terms of the 2023 Plan, any shares of common stock that are subject to outstanding awards granted pursuant to the 2007 Program that subsequently cease to be subject to such awards as a result of the termination, expiration, cancellation, or forfeiture of such awards and any shares of common stock withheld in settlement of tax withholding obligations associated with outstanding awards granted pursuant to the 2007 Program may become available for issuance under the 2023 Plan. A total of 1,294,546 shares of common stock were subject to awards granted pursuant to the 2007 Program as of May 23, 2023. The following table summarizes stock-based compensation expense recognized: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Restricted stock units $ 3,117 $ 1,047 $ 5,975 4,667 Phantom stock units - - 107 222 Total $ 3,117 $ 1,047 $ 6,082 4,889 The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at July 1, 2023 (amortization periods in years) Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 25,283 1.7 Phantom stock units - n/a Total $ 25,283 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 Company's stock incentive programs as of July 1, 2023 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, 2023 894 $ 19.73 Granted* 1,152 24.32 Vested** (328 ) 18.76 Cancelled or forfeited - - Outstanding at July 1, 2023 1,718 $ 22.99 Expected to vest at July 1, 2023 1,838 * Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. In addition to RSUs that vest based upon satisfaction of service or performance conditions, in 2023, the Company granted RSUs that vest based upon achievement of market conditions to certain executive officers. For RSUs with market conditions, the Company estimates the grant date fair value using a Monte Carlo valuation model and recognizes the expense for the awards over the period in which the condition is assessed regardless of whether the market condition is ultimately achieved. The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance and market criteria between the established target and maximum levels. RSUs with performance-based and market-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, 2024 165 - 165 January 1, 2025 168 - 168 January 1, 2026 292 - 292 Phantom Stock Units Phantom stock unit activity as of July 1, 2023 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, 2023 226 Granted 5 $ 21.48 Dividend equivalents issued 1 Redeemed for common stock* (94 ) Outstanding at July 1, 2023 138 * The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jul. 01, 2023
Segment Information [Abstract]
Segment Information	Note 11 – Segment Information The following tables set forth business segment information: MOSFETs Diodes Optoelectronic Components Resistors Inductors Capacitors Corporate / Other* Total Fiscal quarter ended : Net revenues $ 207,388 $ 174,735 $ 64,449 $ 222,433 $ 89,239 $ 133,866 $ - $ 892,110 Segment Operating Income $ 56,772 $ 35,110 $ 10,749 $ 57,363 $ 27,585 $ 28,177 $ - $ 215,756 Fiscal quarter ended : Net revenues $ 158,395 $ 192,083 $ 77,936 $ 213,176 $ 89,608 $ 132,314 $ - $ 863,512 Segment Operating Income $ 44,602 $ 48,513 $ 22,395 $ 63,650 $ 26,914 $ 27,620 $ (6,661 ) $ 227,033 Six fiscal months ended July 1, 2023 : Net revenues $ 405,569 $ 350,428 $ 124,852 $ 445,573 $ 169,577 $ 267,157 $ - $ 1,763,156 Segment Operating Income $ 114,789 $ 77,796 $ 28,049 $ 124,062 $ 48,564 $ 61,173 $ - $ 454,433 Six fiscal months ended July 2, 2022 : Net revenues $ 331,069 $ 374,417 $ 158,952 $ 420,208 $ 172,385 $ 260,274 $ - $ 1,717,305 Segment Operating Income $ 93,126 $ 88,939 $ 50,554 $ 121,793 $ 49,113 $ 55,020 $ (6,661 ) $ 451,884 * 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 Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Reconciliation: Segment Operating Income $ 215,756 $ 227,033 $ 454,433 $ 451,884 Impact of the COVID-19 Pandemic on Selling, General, and Administrative Expenses - (546 ) - (546 ) Unallocated Selling, General, and Administrative Expenses (81,140 ) (75,664 ) (161,249 ) (154,262 ) Consolidated Operating Income $ 134,616 $ 150,823 $ 293,184 $ 297,076 Unallocated Other Income (Expense) (1,147 ) (2,927 ) (2,938 ) (12,900 ) Consolidated Income Before Taxes $ 133,469 $ 147,896 $ 290,246 $ 284,176 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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Distributors $ 487,107 $ 515,714 $ 957,895 $ 1,013,583 OEMs 344,820 288,695 685,248 586,124 EMS companies 60,183 59,103 120,013 117,598 Total Revenue $ 892,110 $ 863,512 $ 1,763,156 $ 1,717,305 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Asia $ 323,527 $ 344,770 $ 633,956 $ 688,782 Europe 326,461 275,965 653,022 565,949 Americas 242,122 242,777 476,178 462,574 Total Revenue $ 892,110 $ 863,512 $ 1,763,156 $ 1,717,305 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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Industrial $ 327,956 $ 350,955 $ 653,916 $ 688,324 Automotive 310,233 253,672 594,732 513,173 Computing 41,083 57,035 84,252 124,966 Military and Aerospace 68,741 55,703 130,866 102,201 Consumer Products 41,616 43,147 88,150 81,855 Power Supplies 44,631 41,144 88,787 81,426 Medical 40,138 32,973 82,241 65,464 Telecommunications 17,712 28,883 40,212 59,896 Total Revenue $ 892,110 $ 863,512 $ 1,763,156 $ 1,717,305

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jul. 01, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 12 – 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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Numerator: Net earnings attributable to Vishay stockholders $ 95,038 $ 112,388 $ 206,819 $ 215,961 Denominator: Denominator for basic earnings per share: Weighted average shares 139,627 143,773 140,062 144,305 Outstanding phantom stock units 137 223 139 222 Adjusted weighted average shares 139,764 143,996 140,201 144,527 Effect of dilutive securities: Restricted stock units 714 401 664 451 Dilutive potential common shares 714 401 664 451 Denominator for diluted earnings per share: Adjusted weighted average shares - diluted 140,478 144,397 140,865 144,978 Basic earnings per share attributable to Vishay stockholders $ 0.68 $ 0.78 $ 1.48 $ 1.49 Diluted earnings per share attributable to Vishay stockholders $ 0.68 $ 0.78 $ 1.47 $ 1.49 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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Restricted stock units 318 333 159 333 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, he average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jul. 01, 2023
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 13 – Fair Value Measurements The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis: Total Fair Value Level 1 Level 2 Level 3 July 1, 2023 Assets: Assets held in rabbi trusts $ 50,856 $ 26,049 $ 24,807 $ - Available for sale securities $ 3,838 3,838 - - $ 54,694 $ 29,887 $ 24,807 $ - Liability: MaxPower acquisition contingent consideration $ 6,926 $ - $ - $ 6,926 December 31, 2022 Assets: Assets held in rabbi trusts $ 50,173 $ 27,168 $ 23,005 $ - Available for sale securities $ 3,677 3,677 - - Precious metals $ 1,252 1,252 - - $ 55,102 $ 32,097 $ 23,005 $ - Liability: MaxPower acquisition contingent consideration $ 6,870 $ - $ - $ 6,870 There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented. The Company maintains non-qualified trusts, referred to as “rabbi” trusts, to fund payments under deferred compensation and non-qualified pension plans. Rabbi trust assets consist primarily of marketable securities, classified as available-for-sale and company-owned life insurance assets. The marketable securities held in the rabbi trusts are valued using quoted market prices on the last business day of the period. The company-owned life insurance assets are valued in consultation with the 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. From time to time, the Company purchases precious metals bullion in excess of its immediate manufacturing needs to mitigate the risk of supply shortages or volatile price fluctuations. The metals are valued based on quoted market prices on the last business day of the period. The fair value measurement of the metals is considered a Level 1 measurement within the fair value hierarchy. The inventory of precious metals bullion in excess of its immediate manufacturing needs was not material at July 1, 2023. The Company may be required to make certain contingent payments to non-employee equity holders of MaxPower pursuant to the acquisition agreement, which would be payable upon the achievement of certain technology milestones, upon favorable resolution of certain technology licensing matters with a third party, and upon the disposition of MaxPower's investment in an equity affiliate. The fair value of these contingent consideration payments is determined by estimating the net present value of the expected cash flows based on the probability of expected payments. The fair value measurement of the contingent consideration 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 July 1, 2023 and December 31, 2022 is approximately $693,400 and $491,100, respectively, compared to its carrying value, excluding the deferred financing costs, of $650,344 and $507,344, 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 July 1, 2023 and December 31, 2022, 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 July 1, 2023 and December 31, 2022, 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 and accounts payable. The carrying amounts for these financial instruments reported in the consolidated condensed balance sheets approximate their fair values.

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jul. 01, 2023
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jul. 01, 2023
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 2023 end on April 1, 2023, July 1, 2023, September 30, 2023, and December 31, 2023, respectively. The four fiscal quarters in 2022 ended on April 2, 2022, July 2, 2022, October 1, 2022, and December 31, 2022, respectively.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation.

Income Taxes (Policies)

Income Taxes (Policies)	6 Months Ended
Income Taxes (Policies)	Jul. 01, 2023
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 July 1, 2023 and July 2, 2022 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.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	6 Months Ended
Earnings Per Share (Policies)	Jul. 01, 2023
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, he average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jul. 01, 2023
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: July 1, 2023 December 31, 2022 Right of use assets Operating Leases Buildings and improvements $ 126,458 $ 126,933 Machinery and equipment 5,002 4,260 Total $ 131,460 $ 131,193 Current lease liabilities Operating Leases Buildings and improvements $ 23,456 $ 22,926 Machinery and equipment 2,661 2,393 Total $ 26,117 $ 25,319 Long-term lease liabilities Operating Leases Buildings and improvements $ 104,893 $ 106,693 Machinery and equipment 2,256 1,800 Total $ 107,149 $ 108,493 Total lease liabilities $ 133,266 $ 133,812
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 quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Lease expense Operating lease expense $ 6,887 $ 6,304 $ 13,768 $ 12,756 Short-term lease expense 252 236 508 540 Variable lease expense 159 - 311 100 Total lease expense $ 7,298 $ 6,540 $ 14,587 $ 13,396
Undiscounted Future Lease Payments for Operating Lease Liabilities	The undiscounted future lease payments for the Company's operating lease liabilities are as follows: July 1, 2023 2023 (excluding the six fiscal months ended July 1, 2023) $ 13,840 2024 25,985 2025 22,556 2026 18,778 2027 17,258 Thereafter 80,762

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Jul. 01, 2023
Long-Term Debt [Abstract]
Long-term Debt Instruments	Long-term debt consists of the following: July 1, 2023 December 31, 2022 Credit facility $ 185,000 $ 42,000 Convertible senior notes, due 2025 465,344 465,344 Deferred financing costs (10,676 ) (6,407 ) 639,668 500,937 Less current portion - - $ 639,668 $ 500,937
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 July 1, 2023: Convertible Senior Notes Due 2025 Issuance date June 12, 2018 Maturity date June 15, 2025 Principal amount as of July 1, 2023 $ 465,344 Cash coupon rate (per annum) 2.25 % Nonconvertible debt borrowing rate at issuance (per annum) 5.50 % Conversion rate effective June 15, 2023 (per $1 principal amount) 32.0879 Effective conversion price effective June 15, 2023 (per share) $ 31.16 130% of the current effective conversion price (per share) $ 40.51

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Jul. 01, 2023
Stockholders' Equity Policy [Abstract]
Schedule of Stockholder Return Policy [Table Text Block]	The following table summarizes activity pursuant to this policy: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Dividends paid to stockholders $ 13,937 $ 14,339 $ 27,957 $ 28,808 Stock repurchases 20,226 26,288 40,399 36,161 Total $ 34,163 $ 40,627 $ 68,356 $ 64,969

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Jul. 01, 2023
Revenue Recognition [Abstract]
Sales returns and allowances accrual activity	Sales returns and allowances accrual activity is shown below: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Beginning balance $ 38,280 $ 39,161 $ 46,979 $ 39,759 Sales allowances 26,297 19,040 52,134 46,417 Credits issued (16,853 ) (16,569 ) (50,128 ) (44,295 ) Foreign currency 1,626 (857 ) 365 (1,106 ) Ending balance $ 49,350 $ 40,775 $ 49,350 $ 40,775

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jul. 01, 2023
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, 2023 $ (7,598 ) $ (3,229 ) $ (10,827 ) Other comprehensive income (loss) before reclassifications - 23,198 $ 23,198 Tax effect - - $ - Other comprehensive income before reclassifications, net of tax - 23,198 $ 23,198 Amounts reclassified out of AOCI 355 - $ 355 Tax effect (71 ) - $ (71 ) Amounts reclassified out of AOCI, net of tax 284 - $ 284 Net other comprehensive income (loss) $ 284 $ 23,198 $ 23,482 Balance at July 1, 2023 $ (7,314 ) $ 19,969 $ 12,655

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits (Tables)	6 Months Ended
Pensions and Other Postretirement Benefits (Tables)	Jul. 01, 2023
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 2023 and 2022 for the Company’s defined benefit pension plans: Fiscal quarter ended July 1, 2023 Fiscal quarter ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 723 $ - $ 1,068 Interest cost 500 1,711 281 813 Expected return on plan assets - (570 ) - (440 ) Amortization of prior service cost 36 56 36 53 Amortization of losses (gains) (30 ) 87 426 1,205 Curtailment and settlement losses - 106 - 265 Net periodic benefit cost $ 506 $ 2,113 $ 743 $ 2,964 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 1, 2023 and July 2, 2022 for the Company’s defined benefit pension plans: Six fiscal months ended July 1, 2023 Six fiscal months ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Net service cost $ - $ 1,447 $ - $ 2,185 Interest cost 999 3,406 561 1,665 Expected return on plan assets - (1,140 ) - (900 ) Amortization of prior service cost 72 111 72 109 Amortization of losses (gains) (60 ) 173 853 2,476 Curtailment and settlement losses - 213 - 544 Net periodic benefit cost $ 1,011 $ 4,210 $ 1,486 $ 6,079
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 2023 and 2022 for the Company’s other postretirement benefit plans: Fiscal quarter ended July 1, 2023 Fiscal quarter ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 6 $ 34 $ 9 $ 60 Interest cost 56 31 44 14 Amortization of losses (gains) (81 ) 4 85 21 Net periodic benefit cost $ (19 ) $ 69 $ 138 $ 95 The following table shows the components of the net periodic pension cost for the six fiscal months ended July 1, 2023 and July 2, 2022 for the Company’s other postretirement benefit plans: Six fiscal months ended July 1, 2023 Six fiscal months ended July 2, 2022 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Service cost $ 11 $ 68 $ 19 $ 123 Interest cost 112 62 89 29 Amortization of losses (gains) (161 ) 7 171 44 Net periodic benefit cost $ (38 ) $ 137 $ 279 $ 196

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Jul. 01, 2023
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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Restricted stock units $ 3,117 $ 1,047 $ 5,975 4,667 Phantom stock units - - 107 222 Total $ 3,117 $ 1,047 $ 6,082 4,889
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 July 1, 2023 (amortization periods in years) Unrecognized Compensation Cost Weighted Average Remaining Amortization Periods Restricted stock units $ 25,283 1.7 Phantom stock units - n/a Total $ 25,283
RSU Activity	RSU activity under the Company's stock incentive programs as of July 1, 2023 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, 2023 894 $ 19.73 Granted* 1,152 24.32 Vested** (328 ) 18.76 Cancelled or forfeited - - Outstanding at July 1, 2023 1,718 $ 22.99 Expected to vest at July 1, 2023 1,838 * Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.
RSUs with Performance-Based Vesting Criteria	RSUs with performance-based and market-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, 2024 165 - 165 January 1, 2025 168 - 168 January 1, 2026 292 - 292
Phantom Stock Unit Activity Under the Phantom Stock Plan	Phantom stock unit activity as of July 1, 2023 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, 2023 226 Granted 5 $ 21.48 Dividend equivalents issued 1 Redeemed for common stock* (94 ) Outstanding at July 1, 2023 138 * The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jul. 01, 2023
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 : Net revenues $ 207,388 $ 174,735 $ 64,449 $ 222,433 $ 89,239 $ 133,866 $ - $ 892,110 Segment Operating Income $ 56,772 $ 35,110 $ 10,749 $ 57,363 $ 27,585 $ 28,177 $ - $ 215,756 Fiscal quarter ended : Net revenues $ 158,395 $ 192,083 $ 77,936 $ 213,176 $ 89,608 $ 132,314 $ - $ 863,512 Segment Operating Income $ 44,602 $ 48,513 $ 22,395 $ 63,650 $ 26,914 $ 27,620 $ (6,661 ) $ 227,033 Six fiscal months ended July 1, 2023 : Net revenues $ 405,569 $ 350,428 $ 124,852 $ 445,573 $ 169,577 $ 267,157 $ - $ 1,763,156 Segment Operating Income $ 114,789 $ 77,796 $ 28,049 $ 124,062 $ 48,564 $ 61,173 $ - $ 454,433 Six fiscal months ended July 2, 2022 : Net revenues $ 331,069 $ 374,417 $ 158,952 $ 420,208 $ 172,385 $ 260,274 $ - $ 1,717,305 Segment Operating Income $ 93,126 $ 88,939 $ 50,554 $ 121,793 $ 49,113 $ 55,020 $ (6,661 ) $ 451,884 * 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.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Reconciliation: Segment Operating Income $ 215,756 $ 227,033 $ 454,433 $ 451,884 Impact of the COVID-19 Pandemic on Selling, General, and Administrative Expenses - (546 ) - (546 ) Unallocated Selling, General, and Administrative Expenses (81,140 ) (75,664 ) (161,249 ) (154,262 ) Consolidated Operating Income $ 134,616 $ 150,823 $ 293,184 $ 297,076 Unallocated Other Income (Expense) (1,147 ) (2,927 ) (2,938 ) (12,900 ) Consolidated Income Before Taxes $ 133,469 $ 147,896 $ 290,246 $ 284,176
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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Distributors $ 487,107 $ 515,714 $ 957,895 $ 1,013,583 OEMs 344,820 288,695 685,248 586,124 EMS companies 60,183 59,103 120,013 117,598 Total Revenue $ 892,110 $ 863,512 $ 1,763,156 $ 1,717,305 Net revenues were attributable to customers in the following regions: Fiscal quarters ended Six fiscal months ended July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Asia $ 323,527 $ 344,770 $ 633,956 $ 688,782 Europe 326,461 275,965 653,022 565,949 Americas 242,122 242,777 476,178 462,574 Total Revenue $ 892,110 $ 863,512 $ 1,763,156 $ 1,717,305 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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Industrial $ 327,956 $ 350,955 $ 653,916 $ 688,324 Automotive 310,233 253,672 594,732 513,173 Computing 41,083 57,035 84,252 124,966 Military and Aerospace 68,741 55,703 130,866 102,201 Consumer Products 41,616 43,147 88,150 81,855 Power Supplies 44,631 41,144 88,787 81,426 Medical 40,138 32,973 82,241 65,464 Telecommunications 17,712 28,883 40,212 59,896 Total Revenue $ 892,110 $ 863,512 $ 1,763,156 $ 1,717,305

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jul. 01, 2023
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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Numerator: Net earnings attributable to Vishay stockholders $ 95,038 $ 112,388 $ 206,819 $ 215,961 Denominator: Denominator for basic earnings per share: Weighted average shares 139,627 143,773 140,062 144,305 Outstanding phantom stock units 137 223 139 222 Adjusted weighted average shares 139,764 143,996 140,201 144,527 Effect of dilutive securities: Restricted stock units 714 401 664 451 Dilutive potential common shares 714 401 664 451 Denominator for diluted earnings per share: Adjusted weighted average shares - diluted 140,478 144,397 140,865 144,978 Basic earnings per share attributable to Vishay stockholders $ 0.68 $ 0.78 $ 1.48 $ 1.49 Diluted earnings per share attributable to Vishay stockholders $ 0.68 $ 0.78 $ 1.47 $ 1.49
Weighted Average Potential Common Shares that Would have an Antidilutive Effect or have Unsatisfied Performance Conditions	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 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022 Restricted stock units 318 333 159 333

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jul. 01, 2023
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 July 1, 2023 Assets: Assets held in rabbi trusts $ 50,856 $ 26,049 $ 24,807 $ - Available for sale securities $ 3,838 3,838 - - $ 54,694 $ 29,887 $ 24,807 $ - Liability: MaxPower acquisition contingent consideration $ 6,926 $ - $ - $ 6,926 December 31, 2022 Assets: Assets held in rabbi trusts $ 50,173 $ 27,168 $ 23,005 $ - Available for sale securities $ 3,677 3,677 - - Precious metals $ 1,252 1,252 - - $ 55,102 $ 32,097 $ 23,005 $ - Liability: MaxPower acquisition contingent consideration $ 6,870 $ - $ - $ 6,870

Acquisition and Divestiture A_2

Acquisition and Divestiture Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Dec. 31, 2022	Jul. 01, 2023	Jul. 02, 2022	Oct. 28, 2022
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Acquisition of business, net of cash acquired			$ 5,003	$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill	$ 203,940	$ 201,432	$ 203,940
Centerline [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Business acquisition, effective date of acquisition	Jun. 30, 2023
Business acquisition, name of acquired entity	Centerline Technologies, LLC
Acquisition of business, net of cash acquired	$ 5,003
Definite-lived intangible assets	1,500
Goodwill related to acquisitions	$ 2,213
MaxPower [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Business acquisition, effective date of acquisition		Oct. 28, 2022
Business acquisition, name of acquired entity		MaxPower Semiconductor, Inc.
Acquisition of business, net of cash acquired		$ 50,000
Contingent Consideration Arrangements Highest Amount Payable					$ 57,500
Definite-lived intangible assets		18,600
Goodwill related to acquisitions		$ 36,885
Fair value of contingent consideration					$ 6,851

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	Dec. 31, 2022
Assets and Liabilities [Abstract]
Right of use assets	$ 131,460		$ 131,460		$ 131,193
Current lease liabilities	26,117		26,117		25,319
Long-term lease liabilities	107,149		107,149		108,493
Total lease liabilities	133,266		133,266		133,812
Lease expense [Abstract]
Operating lease expense	6,887	$ 6,304	13,768	$ 12,756
Short-term lease expense	252	236	508	540
Variable lease expense	159	0	311	100
Total lease expense	$ 7,298	$ 6,540	14,587	13,396
Cash paid for operating leases			$ 13,966	$ 12,241
Weighted-average remaining lease term - operating leases	9 years 7 months 6 days		9 years 7 months 6 days
Weighted-average discount rate - operating leases	6.20%		6.20%
Undiscounted future lease payments for operating lease liabilities [Abstract]
2023	$ 13,840		$ 13,840
2024	25,985		25,985
2025	22,556		22,556
2026	18,778		18,778
2027	17,258		17,258
Thereafter	80,762		80,762
Building and Improvements [Member]
Assets and Liabilities [Abstract]
Right of use assets	126,458		126,458		126,933
Current lease liabilities	23,456		23,456		22,926
Long-term lease liabilities	104,893		104,893		106,693
Machinery and Equipment [Member]
Assets and Liabilities [Abstract]
Right of use assets	5,002		5,002		4,260
Current lease liabilities	2,661		2,661		2,393
Long-term lease liabilities	$ 2,256		$ 2,256		$ 1,800

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	6 Months Ended
Income Taxes (Details) $ in Thousands	Jul. 01, 2023 USD ($)
Income Taxes [Abstract]
Increase in liabilities for unrecognized tax benefits	$ 616

Long-Term Debt (Details)

Long-Term Debt (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jul. 01, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)
Debt Instruments [Abstract]
Credit facility	$ 185,000	$ 42,000
Deferred financing costs	(10,676)	(6,407)
Long-term debt	639,668	500,937
Less current portion	0	0
Long-term debt, less current portion	639,668	500,937
Convertible Senior Notes, Due 2025 [Member]
Debt Instruments [Abstract]
Convertible debt	$ 465,344	$ 465,344
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	32.0879
Effective conversion price (in dollars per share) \| $ / shares	$ 31.16
130% of the conversion price (in dollars per share) \| $ / shares	$ 40.51
Debt instrument percentage of conversion price	130%
Debt instrument percentage of sales price of common stock	98%
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
Revolving Credit Facility [Member]
Line of Credit Facility
Basis spread on variable rate	1.60%
Line of Credit Facility, Commitment Fee Percentage	0.25%
Line of credit facility, expiration date	May 08, 2028
Line of credit facility, initiation date	May 08, 2023
Line of credit facility, maximum borrowing capacity	$ 750,000
Restricted payments pro forma ratio	2.5
Investments pro forma ratio	2.75
Credit Facility Net Leverage Ratio Maximum	3.25
Credit facility foreign borrowing sublimit	$ 250,000
Credit facility maximum unrestricted cash leverage ratio adjustment	$ 250,000
Previous Credit Facility [Member]
Line of Credit Facility
Line of credit facility, expiration date	Jun. 05, 2024

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Stockholders' Equity (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	Dec. 31, 2022
Stockholders' Equity Policy [Abstract]
Treasury Stock, Value, Acquired, Par Value Method	$ 20,226	$ 26,288	$ 40,399	$ 36,161
Dividends declared	13,937	14,339	27,957	28,808
Stockholder Return Policy Payments	$ 34,163	$ 40,627	$ 68,356	$ 64,969
Treasury Stock, Common, Shares	6,003,996		6,003,996		4,240,573

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Sales returns and allowances accrual activity [Roll Forward]
Beginning balance	$ 38,280	$ 39,161	$ 46,979	$ 39,759
Sales allowances	26,297	19,040	52,134	46,417
Credits issued	(16,853)	(16,569)	(50,128)	(44,295)
Foreign currency	1,626	(857)	365	(1,106)
Ending balance	$ 49,350	$ 40,775	$ 49,350	$ 40,775

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 01, 2023	Apr. 01, 2023	Jul. 02, 2022	Apr. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		$ (10,827)			$ (10,827)
Other comprehensive income before reclassifications					23,198
Tax effect					0
Other comprehensive income before reclassifications, net of tax					23,198
Amounts reclassified out of AOCI					355
Tax effect					(71)
Amounts reclassified out of AOCI, net of tax					284
Net other comprehensive income	$ 3,623	19,859	$ (48,167)	$ (11,925)	23,482	$ (60,092)
Ending Balance	12,655				12,655
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		(7,598)			(7,598)
Other comprehensive income before reclassifications					0
Tax effect					0
Other comprehensive income before reclassifications, net of tax					0
Amounts reclassified out of AOCI					355
Tax effect					(71)
Amounts reclassified out of AOCI, net of tax					284
Net other comprehensive income					284
Ending Balance	(7,314)				(7,314)
Currency Translation Adjustment [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		(3,229)			(3,229)
Other comprehensive income before reclassifications					23,198
Tax effect					0
Other comprehensive income before reclassifications, net of tax					23,198
Amounts reclassified out of AOCI					0
Tax effect					0
Amounts reclassified out of AOCI, net of tax					0
Net other comprehensive income					23,198
Ending Balance	19,969				19,969
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative balance of each component of other comprehensive income (loss) and income tax effects [Roll Forward]
Beginning Balance		(10,827)			(10,827)
Net other comprehensive income	3,623	$ 19,859	$ (48,167)	$ (11,925)
Ending Balance	$ 12,655				$ 12,655

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
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	500	281	999	561
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	36	36	72	72
Amortization of losses (gains)	(30)	426	(60)	853
Curtailment and settlement losses	0	0	0	0
Net periodic benefit cost	506	743	1,011	1,486
Defined Benefit Pension Plans [Member] \| Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	723	1,068	1,447	2,185
Interest cost	1,711	813	3,406	1,665
Expected return on plan assets	(570)	(440)	(1,140)	(900)
Amortization of prior service cost (credit)	56	53	111	109
Amortization of losses (gains)	87	1,205	173	2,476
Curtailment and settlement losses	106	265	213	544
Net periodic benefit cost	2,113	2,964	4,210	6,079
Other Postretirement Benefits [Member] \| U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	6	9	11	19
Interest cost	56	44	112	89
Amortization of losses (gains)	(81)	85	(161)	171
Net periodic benefit cost	(19)	138	(38)	279
Other Postretirement Benefits [Member] \| Non-U.S. Plans [Member]
Components of net periodic pension cost [Abstract]
Net service cost	34	60	68	123
Interest cost	31	14	62	29
Amortization of losses (gains)	4	21	7	44
Net periodic benefit cost	$ 69	$ 95	$ 137	$ 196

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022	May 23, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 3,117	$ 1,047	$ 6,082	$ 4,889
Unrecognized Compensation Cost		$ 25,283		$ 25,283
2007 Stock Incentive Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation arrangement by share-based payment award, options, non-vested, outstanding (in shares)						1,294,546
2023 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Expiration date of stock-based compensation plan		Mar. 24, 2033
Maximum number of shares granted under restricted stock, unrestricted stock, RSU's and stock options to officers, employees and employee directors (in shares)		6,000,000		6,000,000
Share-Based Awards Granted Pursuant to 2023 LTIP in Current Period		733,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 3,117	1,047	$ 5,975	4,667
Unrecognized Compensation Cost		$ 25,283		$ 25,283
Weighted Average Remaining Amortization Periods				1 year 8 months 12 days
Number of units [Abstract]
Outstanding (in shares)				894,000
Granted (in shares)				1,152,000
Vested (in shares)	[1]			(328,000)
Cancelled or forfeited (in shares)				0
Outstanding (in shares)		1,718,000		1,718,000
Expected to vest (in shares)		1,838,000		1,838,000
Weighted Average Grant-date Fair Value per Unit [Abstract]
Outstanding (in dollars per share)				$ 19.73
Granted (in dollars per share)				24.32
Vested (in dollars per share)	[1]			18.76
Cancelled or forfeited (in dollars per share)				0
Outstanding (in dollars per share)		$ 22.99		$ 22.99
Phantom Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense recognized		$ 0	$ 0	$ 107	$ 222
Unrecognized Compensation Cost		$ 0		$ 0
Number of units [Abstract]
Outstanding (in shares)				226,000
Granted (in shares)				5,000
Dividend equivalents issued (in shares)				1,000
Redeemed for common stock				(94,000)
Outstanding (in shares)		138,000		138,000
Weighted Average Grant-date Fair Value per Unit [Abstract]
Granted (in dollars per share)				$ 21.48
Scheduled to Vest January 1, 2024 [Member] \| Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		165,000		165,000
Expected to vest (in shares)		165,000		165,000
Not expected to vest (in shares)		0		0
Scheduled to Vest January 1, 2025 [Member] \| Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		168,000		168,000
Expected to vest (in shares)		168,000		168,000
Not expected to vest (in shares)		0		0
Scheduled to Vest January 1, 2026 [Member] \| Performance Vested Restricted Stock Units [Member]
Number of units [Abstract]
Outstanding (in shares)		292,000		292,000
Expected to vest (in shares)		292,000		292,000
Not expected to vest (in shares)		0		0

[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)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Segment Reporting Information [Line Items]
Net revenues	$ 892,110	$ 863,512	$ 1,763,156	$ 1,717,305
Unallocated Selling, General, and Administrative Expenses	(122,857)	(110,400)	(243,002)	(223,255)
Operating income	134,616	150,823	293,184	297,076
Unallocated Other Income (Expense)	(1,147)	(2,927)	(2,938)	(12,900)
Consolidated Income Before Taxes	133,469	147,896	290,246	284,176
Distributors [Member]
Segment Reporting Information [Line Items]
Net revenues	487,107	515,714	957,895	1,013,583
OEMs [Member]
Segment Reporting Information [Line Items]
Net revenues	344,820	288,695	685,248	586,124
EMS Companies [Member]
Segment Reporting Information [Line Items]
Net revenues	60,183	59,103	120,013	117,598
Industrial [Member]
Segment Reporting Information [Line Items]
Net revenues	327,956	350,955	653,916	688,324
Automotive [Member]
Segment Reporting Information [Line Items]
Net revenues	310,233	253,672	594,732	513,173
Telecommunications [Member]
Segment Reporting Information [Line Items]
Net revenues	17,712	28,883	40,212	59,896
Computing [Member]
Segment Reporting Information [Line Items]
Net revenues	41,083	57,035	84,252	124,966
Consumer Products [Member]
Segment Reporting Information [Line Items]
Net revenues	41,616	43,147	88,150	81,855
Power Supplies [Member]
Segment Reporting Information [Line Items]
Net revenues	44,631	41,144	88,787	81,426
Military and Aerospace [Member]
Segment Reporting Information [Line Items]
Net revenues	68,741	55,703	130,866	102,201
Medical [Member]
Segment Reporting Information [Line Items]
Net revenues	40,138	32,973	82,241	65,464
Asia [Member]
Segment Reporting Information [Line Items]
Net revenues	323,527	344,770	633,956	688,782
Europe [Member]
Segment Reporting Information [Line Items]
Net revenues	326,461	275,965	653,022	565,949
Americas [Member]
Segment Reporting Information [Line Items]
Net revenues	242,122	242,777	476,178	462,574
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	215,756	227,033	454,433	451,884
Operating Segments [Member] \| MOSFETS [Member]
Segment Reporting Information [Line Items]
Net revenues	207,388	158,395	405,569	331,069
Operating income	56,772	44,602	114,789	93,126
Operating Segments [Member] \| Diodes [Member]
Segment Reporting Information [Line Items]
Net revenues	174,735	192,083	350,428	374,417
Operating income	35,110	48,513	77,796	88,939
Operating Segments [Member] \| Optoelectronic Components [Member]
Segment Reporting Information [Line Items]
Net revenues	64,449	77,936	124,852	158,952
Operating income	10,749	22,395	28,049	50,554
Operating Segments [Member] \| Resistors [Member]
Segment Reporting Information [Line Items]
Net revenues	222,433	213,176	445,573	420,208
Operating income	57,363	63,650	124,062	121,793
Operating Segments [Member] \| Inductors [Member]
Segment Reporting Information [Line Items]
Net revenues	89,239	89,608	169,577	172,385
Operating income	27,585	26,914	48,564	49,113
Operating Segments [Member] \| Capacitors [Member]
Segment Reporting Information [Line Items]
Net revenues	133,866	132,314	267,157	260,274
Operating income	28,177	27,620	61,173	55,020
Operating Segments [Member] \| Corporate Other [Member]
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Operating income	0	(6,661)	0	(6,661)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Impact of COVID-19 pandemic	0	(546)	0	(546)
Unallocated Selling, General, and Administrative Expenses	(81,140)	(75,664)	(161,249)	(154,262)
Unallocated Other Income (Expense)	$ (1,147)	$ (2,927)	$ (2,938)	$ (12,900)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jul. 02, 2022	Jul. 01, 2023	Jul. 02, 2022
Numerator [Abstract]
Net earnings attributable to Vishay stockholders	$ 95,038	$ 112,388	$ 206,819	$ 215,961
Denominator [Abstract]
Weighted average shares (in shares)	139,627	143,773	140,062	144,305
Outstanding phantom stock units (in shares)	137	223	139	222
Adjusted weighted average shares - basic (in shares)	139,764	143,996	140,201	144,527
Effect of dilutive securities [Abstract]
Restricted stock units (in shares)	714	401	664	451
Dilutive potential common shares (in shares)	714	401	664	451
Denominator for diluted earnings per share [Abstract]
Adjusted weighted average shares - diluted (in shares)	140,478	144,397	140,865	144,978
Basic earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.68	$ 0.78	$ 1.48	$ 1.49
Diluted earnings per share attributable to Vishay stockholders (in dollars per share)	$ 0.68	$ 0.78	$ 1.47	$ 1.49
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	318	333	159	333

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Jul. 01, 2023	Dec. 31, 2022
Assets [Abstract]
Held-to-maturity Securities Transferred		$ 0	$ 0
Held-to-maturity Securities, Unrecognized Holding Gain	$ 0	0	0
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities	0		0
Held-to-maturity Securities, Unrecognized Holding Loss	0	0	0
Liabilities [Abstract]
Long-term debt, fair value	693,400	693,400	491,100
Carrying value of long-term debt, excluding derivative liabilities	650,344	650,344	507,344
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	50,856	50,856	50,173
Available for sale securities	3,838	3,838	3,677
Precious metals			1,252
Fair value assets	54,694	54,694	55,102
Liabilities [Abstract]
Contingent consideration fair value	6,926	6,926	6,870
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	26,049	26,049	27,168
Available for sale securities	3,838	3,838	3,677
Precious metals			1,252
Fair value assets	29,887	29,887	32,097
Liabilities [Abstract]
Contingent consideration fair value	0	0	0
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	24,807	24,807	23,005
Available for sale securities	0	0	0
Precious metals			0
Fair value assets	24,807	24,807	23,005
Liabilities [Abstract]
Contingent consideration fair value	0	0	0
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Assets held in rabbi trusts	0	0	0
Available for sale securities	0	0	0
Precious metals			0
Fair value assets	0	0	0
Liabilities [Abstract]
Contingent consideration fair value	$ 6,926	$ 6,926	$ 6,870