lfus-20200627
LITTELFUSE INC /DE0000889331--12-262020Q2FALSEus-gaap:AccruedLiabilitiesCurrentus-gaap:AccruedLiabilitiesCurrentP5Y00008893312019-12-292020-06-27xbrli:shares00008893312020-07-24iso4217:USD00008893312020-06-2700008893312019-12-28iso4217:USDxbrli:shares00008893312020-03-292020-06-2700008893312019-03-312019-06-2900008893312018-12-302019-06-2900008893312018-12-2900008893312019-06-290000889331us-gaap:CommonStockMember2019-12-280000889331us-gaap:AdditionalPaidInCapitalMember2019-12-280000889331us-gaap:TreasuryStockMember2019-12-280000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-280000889331us-gaap:RetainedEarningsMember2019-12-280000889331us-gaap:NoncontrollingInterestMember2019-12-280000889331us-gaap:RetainedEarningsMember2019-12-292020-03-2800008893312019-12-292020-03-280000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-292020-03-280000889331us-gaap:AdditionalPaidInCapitalMember2019-12-292020-03-280000889331us-gaap:TreasuryStockMember2019-12-292020-03-280000889331us-gaap:CommonStockMember2020-03-280000889331us-gaap:AdditionalPaidInCapitalMember2020-03-280000889331us-gaap:TreasuryStockMember2020-03-280000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-280000889331us-gaap:RetainedEarningsMember2020-03-280000889331us-gaap:NoncontrollingInterestMember2020-03-2800008893312020-03-280000889331us-gaap:RetainedEarningsMember2020-03-292020-06-270000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-292020-06-270000889331us-gaap:AdditionalPaidInCapitalMember2020-03-292020-06-270000889331us-gaap:TreasuryStockMember2020-03-292020-06-270000889331us-gaap:CommonStockMember2020-03-292020-06-270000889331us-gaap:CommonStockMember2020-06-270000889331us-gaap:AdditionalPaidInCapitalMember2020-06-270000889331us-gaap:TreasuryStockMember2020-06-270000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-270000889331us-gaap:RetainedEarningsMember2020-06-270000889331us-gaap:NoncontrollingInterestMember2020-06-270000889331us-gaap:CommonStockMember2018-12-290000889331us-gaap:AdditionalPaidInCapitalMember2018-12-290000889331us-gaap:TreasuryStockMember2018-12-290000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-290000889331us-gaap:RetainedEarningsMember2018-12-290000889331us-gaap:NoncontrollingInterestMember2018-12-290000889331us-gaap:RetainedEarningsMember2018-12-302019-03-3000008893312018-12-302019-03-300000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-302019-03-300000889331us-gaap:AdditionalPaidInCapitalMember2018-12-302019-03-300000889331us-gaap:TreasuryStockMember2018-12-302019-03-300000889331us-gaap:CommonStockMember2019-03-300000889331us-gaap:AdditionalPaidInCapitalMember2019-03-300000889331us-gaap:TreasuryStockMember2019-03-300000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-300000889331us-gaap:RetainedEarningsMember2019-03-300000889331us-gaap:NoncontrollingInterestMember2019-03-3000008893312019-03-300000889331us-gaap:RetainedEarningsMember2019-03-312019-06-290000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-312019-06-290000889331us-gaap:AdditionalPaidInCapitalMember2019-03-312019-06-290000889331us-gaap:TreasuryStockMember2019-03-312019-06-290000889331us-gaap:CommonStockMember2019-03-312019-06-290000889331us-gaap:CommonStockMember2019-06-290000889331us-gaap:AdditionalPaidInCapitalMember2019-06-290000889331us-gaap:TreasuryStockMember2019-06-290000889331us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-290000889331us-gaap:RetainedEarningsMember2019-06-290000889331us-gaap:NoncontrollingInterestMember2019-06-29lfus:customer0000889331lfus:ElectronicsMemberlfus:ElectronicsPassiveProductsAndSensorsMember2020-03-292020-06-270000889331lfus:AutomotiveMemberlfus:ElectronicsPassiveProductsAndSensorsMember2020-03-292020-06-270000889331lfus:IndustrialMemberlfus:ElectronicsPassiveProductsAndSensorsMember2020-03-292020-06-270000889331lfus:ElectronicsPassiveProductsAndSensorsMember2020-03-292020-06-270000889331lfus:ElectronicsMemberlfus:ElectronicsPassiveProductsAndSensorsMember2019-12-292020-06-270000889331lfus:AutomotiveMemberlfus:ElectronicsPassiveProductsAndSensorsMember2019-12-292020-06-270000889331lfus:IndustrialMemberlfus:ElectronicsPassiveProductsAndSensorsMember2019-12-292020-06-270000889331lfus:ElectronicsPassiveProductsAndSensorsMember2019-12-292020-06-270000889331lfus:ElectronicsMemberlfus:ElectronicsSemiconductorMember2020-03-292020-06-270000889331lfus:AutomotiveMemberlfus:ElectronicsSemiconductorMember2020-03-292020-06-270000889331lfus:IndustrialMemberlfus:ElectronicsSemiconductorMember2020-03-292020-06-270000889331lfus:ElectronicsSemiconductorMember2020-03-292020-06-270000889331lfus:ElectronicsMemberlfus:ElectronicsSemiconductorMember2019-12-292020-06-270000889331lfus:AutomotiveMemberlfus:ElectronicsSemiconductorMember2019-12-292020-06-270000889331lfus:IndustrialMemberlfus:ElectronicsSemiconductorMember2019-12-292020-06-270000889331lfus:ElectronicsSemiconductorMember2019-12-292020-06-270000889331lfus:PassengerCarProductsMemberlfus:ElectronicsMember2020-03-292020-06-270000889331lfus:PassengerCarProductsMemberlfus:AutomotiveMember2020-03-292020-06-270000889331lfus:PassengerCarProductsMemberlfus:IndustrialMember2020-03-292020-06-270000889331lfus:PassengerCarProductsMember2020-03-292020-06-270000889331lfus:PassengerCarProductsMemberlfus:ElectronicsMember2019-12-292020-06-270000889331lfus:PassengerCarProductsMemberlfus:AutomotiveMember2019-12-292020-06-270000889331lfus:PassengerCarProductsMemberlfus:IndustrialMember2019-12-292020-06-270000889331lfus:PassengerCarProductsMember2019-12-292020-06-270000889331lfus:ElectronicsMemberlfus:AutomotiveSensorsMember2020-03-292020-06-270000889331lfus:AutomotiveMemberlfus:AutomotiveSensorsMember2020-03-292020-06-270000889331lfus:IndustrialMemberlfus:AutomotiveSensorsMember2020-03-292020-06-270000889331lfus:AutomotiveSensorsMember2020-03-292020-06-270000889331lfus:ElectronicsMemberlfus:AutomotiveSensorsMember2019-12-292020-06-270000889331lfus:AutomotiveMemberlfus:AutomotiveSensorsMember2019-12-292020-06-270000889331lfus:IndustrialMemberlfus:AutomotiveSensorsMember2019-12-292020-06-270000889331lfus:AutomotiveSensorsMember2019-12-292020-06-270000889331lfus:ElectronicsMemberlfus:CommercialVehicleProductsMember2020-03-292020-06-270000889331lfus:AutomotiveMemberlfus:CommercialVehicleProductsMember2020-03-292020-06-270000889331lfus:IndustrialMemberlfus:CommercialVehicleProductsMember2020-03-292020-06-270000889331lfus:CommercialVehicleProductsMember2020-03-292020-06-270000889331lfus:ElectronicsMemberlfus:CommercialVehicleProductsMember2019-12-292020-06-270000889331lfus:AutomotiveMemberlfus:CommercialVehicleProductsMember2019-12-292020-06-270000889331lfus:IndustrialMemberlfus:CommercialVehicleProductsMember2019-12-292020-06-270000889331lfus:CommercialVehicleProductsMember2019-12-292020-06-270000889331lfus:ElectronicsMemberlfus:IndustrialProductsMember2020-03-292020-06-270000889331lfus:AutomotiveMemberlfus:IndustrialProductsMember2020-03-292020-06-270000889331lfus:IndustrialMemberlfus:IndustrialProductsMember2020-03-292020-06-270000889331lfus:IndustrialProductsMember2020-03-292020-06-270000889331lfus:ElectronicsMemberlfus:IndustrialProductsMember2019-12-292020-06-270000889331lfus:AutomotiveMemberlfus:IndustrialProductsMember2019-12-292020-06-270000889331lfus:IndustrialMemberlfus:IndustrialProductsMember2019-12-292020-06-270000889331lfus:IndustrialProductsMember2019-12-292020-06-270000889331lfus:ElectronicsMember2020-03-292020-06-270000889331lfus:AutomotiveMember2020-03-292020-06-270000889331lfus:IndustrialMember2020-03-292020-06-270000889331lfus:ElectronicsMember2019-12-292020-06-270000889331lfus:AutomotiveMember2019-12-292020-06-270000889331lfus:IndustrialMember2019-12-292020-06-270000889331lfus:ElectronicsMemberlfus:ElectronicsPassiveProductsAndSensorsMember2019-03-312019-06-290000889331lfus:AutomotiveMemberlfus:ElectronicsPassiveProductsAndSensorsMember2019-03-312019-06-290000889331lfus:IndustrialMemberlfus:ElectronicsPassiveProductsAndSensorsMember2019-03-312019-06-290000889331lfus:ElectronicsPassiveProductsAndSensorsMember2019-03-312019-06-290000889331lfus:ElectronicsMemberlfus:ElectronicsPassiveProductsAndSensorsMember2018-12-302019-06-290000889331lfus:AutomotiveMemberlfus:ElectronicsPassiveProductsAndSensorsMember2018-12-302019-06-290000889331lfus:IndustrialMemberlfus:ElectronicsPassiveProductsAndSensorsMember2018-12-302019-06-290000889331lfus:ElectronicsPassiveProductsAndSensorsMember2018-12-302019-06-290000889331lfus:ElectronicsMemberlfus:ElectronicsSemiconductorMember2019-03-312019-06-290000889331lfus:AutomotiveMemberlfus:ElectronicsSemiconductorMember2019-03-312019-06-290000889331lfus:IndustrialMemberlfus:ElectronicsSemiconductorMember2019-03-312019-06-290000889331lfus:ElectronicsSemiconductorMember2019-03-312019-06-290000889331lfus:ElectronicsMemberlfus:ElectronicsSemiconductorMember2018-12-302019-06-290000889331lfus:AutomotiveMemberlfus:ElectronicsSemiconductorMember2018-12-302019-06-290000889331lfus:IndustrialMemberlfus:ElectronicsSemiconductorMember2018-12-302019-06-290000889331lfus:ElectronicsSemiconductorMember2018-12-302019-06-290000889331lfus:PassengerCarProductsMemberlfus:ElectronicsMember2019-03-312019-06-290000889331lfus:PassengerCarProductsMemberlfus:AutomotiveMember2019-03-312019-06-290000889331lfus:PassengerCarProductsMemberlfus:IndustrialMember2019-03-312019-06-290000889331lfus:PassengerCarProductsMember2019-03-312019-06-290000889331lfus:PassengerCarProductsMemberlfus:ElectronicsMember2018-12-302019-06-290000889331lfus:PassengerCarProductsMemberlfus:AutomotiveMember2018-12-302019-06-290000889331lfus:PassengerCarProductsMemberlfus:IndustrialMember2018-12-302019-06-290000889331lfus:PassengerCarProductsMember2018-12-302019-06-290000889331lfus:ElectronicsMemberlfus:AutomotiveSensorsMember2019-03-312019-06-290000889331lfus:AutomotiveMemberlfus:AutomotiveSensorsMember2019-03-312019-06-290000889331lfus:IndustrialMemberlfus:AutomotiveSensorsMember2019-03-312019-06-290000889331lfus:AutomotiveSensorsMember2019-03-312019-06-290000889331lfus:ElectronicsMemberlfus:AutomotiveSensorsMember2018-12-302019-06-290000889331lfus:AutomotiveMemberlfus:AutomotiveSensorsMember2018-12-302019-06-290000889331lfus:IndustrialMemberlfus:AutomotiveSensorsMember2018-12-302019-06-290000889331lfus:AutomotiveSensorsMember2018-12-302019-06-290000889331lfus:ElectronicsMemberlfus:CommercialVehicleProductsMember2019-03-312019-06-290000889331lfus:AutomotiveMemberlfus:CommercialVehicleProductsMember2019-03-312019-06-290000889331lfus:IndustrialMemberlfus:CommercialVehicleProductsMember2019-03-312019-06-290000889331lfus:CommercialVehicleProductsMember2019-03-312019-06-290000889331lfus:ElectronicsMemberlfus:CommercialVehicleProductsMember2018-12-302019-06-290000889331lfus:AutomotiveMemberlfus:CommercialVehicleProductsMember2018-12-302019-06-290000889331lfus:IndustrialMemberlfus:CommercialVehicleProductsMember2018-12-302019-06-290000889331lfus:CommercialVehicleProductsMember2018-12-302019-06-290000889331lfus:ElectronicsMemberlfus:IndustrialProductsMember2019-03-312019-06-290000889331lfus:AutomotiveMemberlfus:IndustrialProductsMember2019-03-312019-06-290000889331lfus:IndustrialMemberlfus:IndustrialProductsMember2019-03-312019-06-290000889331lfus:IndustrialProductsMember2019-03-312019-06-290000889331lfus:ElectronicsMemberlfus:IndustrialProductsMember2018-12-302019-06-290000889331lfus:AutomotiveMemberlfus:IndustrialProductsMember2018-12-302019-06-290000889331lfus:IndustrialMemberlfus:IndustrialProductsMember2018-12-302019-06-290000889331lfus:IndustrialProductsMember2018-12-302019-06-290000889331lfus:ElectronicsMember2019-03-312019-06-290000889331lfus:AutomotiveMember2019-03-312019-06-290000889331lfus:IndustrialMember2019-03-312019-06-290000889331lfus:ElectronicsMember2018-12-302019-06-290000889331lfus:AutomotiveMember2018-12-302019-06-290000889331lfus:IndustrialMember2018-12-302019-06-290000889331us-gaap:LandMember2020-06-270000889331us-gaap:LandMember2019-12-280000889331us-gaap:BuildingMember2020-06-270000889331us-gaap:BuildingMember2019-12-280000889331us-gaap:EquipmentMember2020-06-270000889331us-gaap:EquipmentMember2019-12-280000889331lfus:ElectronicsMember2019-12-280000889331lfus:AutomotiveMember2019-12-280000889331lfus:IndustrialMember2019-12-280000889331lfus:ElectronicsMember2020-06-270000889331lfus:AutomotiveMember2020-06-270000889331lfus:IndustrialMember2020-06-270000889331lfus:AutomotiveSensorsMember2020-06-270000889331us-gaap:UseRightsMember2020-06-270000889331lfus:PatentsLicensesAndSoftwareMember2020-06-270000889331us-gaap:DistributionRightsMember2020-06-270000889331lfus:CustomerListsTrademarksAndTradeNamesMember2020-06-270000889331us-gaap:UseRightsMember2019-12-280000889331lfus:PatentsLicensesAndSoftwareMember2019-12-280000889331us-gaap:DistributionRightsMember2019-12-280000889331lfus:CustomerListsTrademarksAndTradeNamesMember2019-12-280000889331lfus:ElectronicsMemberus-gaap:EmployeeSeveranceMember2020-03-292020-06-270000889331lfus:AutomotiveMemberus-gaap:EmployeeSeveranceMember2020-03-292020-06-270000889331lfus:IndustrialMemberus-gaap:EmployeeSeveranceMember2020-03-292020-06-270000889331us-gaap:EmployeeSeveranceMember2020-03-292020-06-270000889331lfus:ElectronicsMemberus-gaap:EmployeeSeveranceMember2019-12-292020-06-270000889331lfus:AutomotiveMemberus-gaap:EmployeeSeveranceMember2019-12-292020-06-270000889331lfus:IndustrialMemberus-gaap:EmployeeSeveranceMember2019-12-292020-06-270000889331us-gaap:EmployeeSeveranceMember2019-12-292020-06-270000889331lfus:ElectronicsMemberus-gaap:OtherRestructuringMember2020-03-292020-06-270000889331us-gaap:OtherRestructuringMemberlfus:AutomotiveMember2020-03-292020-06-270000889331lfus:IndustrialMemberus-gaap:OtherRestructuringMember2020-03-292020-06-270000889331us-gaap:OtherRestructuringMember2020-03-292020-06-270000889331lfus:ElectronicsMemberus-gaap:OtherRestructuringMember2019-12-292020-06-270000889331us-gaap:OtherRestructuringMemberlfus:AutomotiveMember2019-12-292020-06-270000889331lfus:IndustrialMemberus-gaap:OtherRestructuringMember2019-12-292020-06-270000889331us-gaap:OtherRestructuringMember2019-12-292020-06-270000889331lfus:ElectronicsMemberus-gaap:EmployeeSeveranceMember2019-03-312019-06-290000889331lfus:AutomotiveMemberus-gaap:EmployeeSeveranceMember2019-03-312019-06-290000889331lfus:IndustrialMemberus-gaap:EmployeeSeveranceMember2019-03-312019-06-290000889331us-gaap:EmployeeSeveranceMember2019-03-312019-06-290000889331lfus:ElectronicsMemberus-gaap:EmployeeSeveranceMember2018-12-302019-06-290000889331lfus:AutomotiveMemberus-gaap:EmployeeSeveranceMember2018-12-302019-06-290000889331lfus:IndustrialMemberus-gaap:EmployeeSeveranceMember2018-12-302019-06-290000889331us-gaap:EmployeeSeveranceMember2018-12-302019-06-290000889331lfus:ElectronicsMemberus-gaap:OtherRestructuringMember2019-03-312019-06-290000889331us-gaap:OtherRestructuringMemberlfus:AutomotiveMember2019-03-312019-06-290000889331lfus:IndustrialMemberus-gaap:OtherRestructuringMember2019-03-312019-06-290000889331us-gaap:OtherRestructuringMember2019-03-312019-06-290000889331lfus:ElectronicsMemberus-gaap:OtherRestructuringMember2018-12-302019-06-290000889331us-gaap:OtherRestructuringMemberlfus:AutomotiveMember2018-12-302019-06-290000889331lfus:IndustrialMemberus-gaap:OtherRestructuringMember2018-12-302019-06-290000889331us-gaap:OtherRestructuringMember2018-12-302019-06-290000889331lfus:IndustrialMemberus-gaap:FacilityClosingMember2019-12-292020-03-280000889331us-gaap:LineOfCreditMember2020-06-270000889331us-gaap:LineOfCreditMember2019-12-280000889331us-gaap:UnsecuredDebtMember2020-06-270000889331us-gaap:UnsecuredDebtMember2019-12-280000889331lfus:EuroSeniorNotesSeriesAMember2020-06-270000889331lfus:EuroSeniorNotesSeriesAMember2019-12-280000889331lfus:EuroSeniorNotesSeriesBMember2020-06-270000889331lfus:EuroSeniorNotesSeriesBMember2019-12-280000889331lfus:USSeniorNotesSeriesADue2022Member2020-06-270000889331lfus:USSeniorNotesSeriesADue2022Member2019-12-280000889331lfus:USSeniorNotesSeriesBDue2027Member2020-06-270000889331lfus:USSeniorNotesSeriesBDue2027Member2019-12-280000889331lfus:USSeniorNotesSeriesADue2025Member2020-06-270000889331lfus:USSeniorNotesSeriesADue2025Member2019-12-280000889331lfus:USSeniorNotesSeriesBDue2030Member2020-06-270000889331lfus:USSeniorNotesSeriesBDue2030Member2019-12-280000889331us-gaap:NotesPayableOtherPayablesMember2020-06-270000889331us-gaap:NotesPayableOtherPayablesMember2019-12-280000889331lfus:CreditAgreementMember2016-03-042016-03-040000889331lfus:CreditAgreementMember2016-03-040000889331lfus:CreditAgreementMemberus-gaap:RevolvingCreditFacilityMember2016-03-040000889331lfus:TermLoanCreditFacilityMemberlfus:CreditAgreementMember2016-03-040000889331lfus:CreditAgreementMemberus-gaap:RevolvingCreditFacilityMember2017-10-120000889331lfus:CreditAgreementMemberus-gaap:RevolvingCreditFacilityMember2017-10-130000889331lfus:TermLoanCreditFacilityMemberlfus:CreditAgreementMember2017-10-130000889331lfus:CreditAgreementMember2017-10-13lfus:advance0000889331lfus:TermLoanCreditFacilityMemberlfus:CreditAgreementMember2017-10-132017-10-130000889331lfus:TermLoanCreditFacilityMemberlfus:CreditAgreementMember2018-01-162018-01-16xbrli:pure0000889331lfus:TermLoanCreditFacilityMemberlfus:CreditAgreementMember2020-03-292020-06-270000889331lfus:TermLoanCreditFacilityMemberlfus:CreditAgreementMember2019-12-292020-06-2700008893312020-03-252020-03-250000889331us-gaap:UnsecuredDebtMember2020-04-032020-04-030000889331us-gaap:UnsecuredDebtMember2020-04-020000889331lfus:CreditAgreementMembersrt:MinimumMemberus-gaap:LondonInterbankOfferedRateLIBORMember2016-03-042016-03-040000889331lfus:CreditAgreementMembersrt:MaximumMemberus-gaap:LondonInterbankOfferedRateLIBORMember2016-03-042016-03-040000889331lfus:CreditAgreementMemberus-gaap:BaseRateMembersrt:MinimumMember2016-03-042016-03-040000889331lfus:CreditAgreementMemberus-gaap:BaseRateMembersrt:MaximumMember2016-03-042016-03-040000889331lfus:CreditAgreementMembersrt:MinimumMember2016-03-042016-03-040000889331lfus:CreditAgreementMembersrt:MaximumMember2016-03-042016-03-040000889331lfus:CreditAgreementMember2020-06-270000889331lfus:CreditAgreementMemberus-gaap:RevolvingCreditFacilityMember2020-06-27iso4217:EUR0000889331lfus:EuroSeniorNotesSeriesAAndBMember2016-12-08lfus:series0000889331lfus:EuroSeniorNotesSeriesAMember2016-12-080000889331lfus:EuroSeniorNotesSeriesBMember2016-12-080000889331lfus:USSeniorNotesSeriesAAndBMember2016-12-080000889331lfus:USSeniorNotesSeriesAMember2017-02-150000889331lfus:USSeniorNotesSeriesBMember2017-02-150000889331lfus:USSeniorNotesAAndBDue2025And2030Member2017-11-150000889331lfus:EuroSeniorNotesSeriesAAndBMember2017-11-150000889331lfus:USSeniorNotesSeriesADue2025Member2018-01-160000889331lfus:USSeniorNotesSeriesBDue2030Member2018-01-160000889331lfus:OtherExpenseIncomeMember2018-12-302019-06-290000889331lfus:OtherExpenseIncomeMember2019-12-280000889331lfus:OtherExpenseIncomeMember2020-06-2700008893312020-03-232020-03-230000889331us-gaap:FairValueInputsLevel1Member2020-06-270000889331us-gaap:FairValueInputsLevel2Member2020-06-270000889331us-gaap:FairValueInputsLevel3Member2020-06-270000889331us-gaap:FairValueInputsLevel1Member2019-12-280000889331us-gaap:FairValueInputsLevel2Member2019-12-280000889331us-gaap:FairValueInputsLevel3Member2019-12-280000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesAMember2020-06-270000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesAMember2020-06-270000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesAMember2019-12-280000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesAMember2019-12-280000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesBMember2020-06-270000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesBMember2020-06-270000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesBMember2019-12-280000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:EuroSeniorNotesSeriesBMember2019-12-280000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2022Member2020-06-270000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2022Member2020-06-270000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2022Member2019-12-280000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2022Member2019-12-280000889331lfus:USSeniorNotesSeriesBDue2027Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-270000889331lfus:USSeniorNotesSeriesBDue2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-270000889331lfus:USSeniorNotesSeriesBDue2027Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-280000889331lfus:USSeniorNotesSeriesBDue2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-280000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2025Member2020-06-270000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2025Member2020-06-270000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2025Member2019-12-280000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:USSeniorNotesSeriesADue2025Member2019-12-280000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:USSeniorNotesSeriesBDue2030Member2020-06-270000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:USSeniorNotesSeriesBDue2030Member2020-06-270000889331us-gaap:CarryingReportedAmountFairValueDisclosureMemberlfus:USSeniorNotesSeriesBDue2030Member2019-12-280000889331us-gaap:EstimateOfFairValueFairValueDisclosureMemberlfus:USSeniorNotesSeriesBDue2030Member2019-12-280000889331us-gaap:LandAndBuildingMember2019-12-292020-03-280000889331us-gaap:PatentsMember2019-12-292020-03-280000889331us-gaap:FairValueMeasurementsNonrecurringMember2020-03-292020-06-270000889331us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2020-06-270000889331us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2020-06-270000889331us-gaap:ForeignPlanMember2020-03-292020-06-270000889331us-gaap:ForeignPlanMember2019-03-312019-06-290000889331us-gaap:ForeignPlanMember2019-12-292020-06-270000889331us-gaap:ForeignPlanMember2018-12-302019-06-2900008893312020-04-070000889331srt:MinimumMembersrt:ScenarioForecastMember2021-07-012021-12-310000889331srt:MaximumMembersrt:ScenarioForecastMember2021-07-012021-12-310000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-04-062020-04-06iso4217:GBP0000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-03-292020-06-270000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-03-312019-06-290000889331us-gaap:AccumulatedTranslationAdjustmentMember2020-03-292020-06-270000889331us-gaap:AccumulatedTranslationAdjustmentMember2019-03-312019-06-290000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-292020-06-270000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-12-302019-06-290000889331us-gaap:AccumulatedTranslationAdjustmentMember2019-12-292020-06-270000889331us-gaap:AccumulatedTranslationAdjustmentMember2018-12-302019-06-290000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-280000889331us-gaap:AccumulatedTranslationAdjustmentMember2019-12-280000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-06-270000889331us-gaap:AccumulatedTranslationAdjustmentMember2020-06-270000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-12-290000889331us-gaap:AccumulatedTranslationAdjustmentMember2018-12-290000889331us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-06-290000889331us-gaap:AccumulatedTranslationAdjustmentMember2019-06-290000889331us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceIncludingPortionAttributableToNoncontrollingInterestMember2020-03-292020-06-270000889331us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceIncludingPortionAttributableToNoncontrollingInterestMember2019-03-312019-06-290000889331us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceIncludingPortionAttributableToNoncontrollingInterestMember2019-12-292020-06-270000889331us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceIncludingPortionAttributableToNoncontrollingInterestMember2018-12-302019-06-290000889331us-gaap:EmployeeStockOptionMember2020-03-292020-06-270000889331us-gaap:EmployeeStockOptionMember2019-03-312019-06-290000889331us-gaap:EmployeeStockOptionMember2019-12-292020-06-270000889331us-gaap:EmployeeStockOptionMember2018-12-302019-06-290000889331lfus:ShareRepurchaseProgramMember2020-06-270000889331lfus:ShareRepurchaseProgramMember2020-04-230000889331lfus:ShareRepurchaseProgramMember2019-03-312019-06-290000889331lfus:ShareRepurchaseProgramMember2019-12-292020-06-270000889331lfus:ShareRepurchaseProgramMember2018-12-302019-06-290000889331lfus:PowersemMember2020-06-270000889331lfus:EBTechMember2020-06-270000889331lfus:ATECMember2020-06-270000889331lfus:PowersemMember2020-03-292020-06-270000889331lfus:EBTechMember2020-03-292020-06-270000889331lfus:ATECMember2020-03-292020-06-270000889331lfus:PowersemMember2019-03-312019-06-290000889331lfus:EBTechMember2019-03-312019-06-290000889331lfus:ATECMember2019-03-312019-06-290000889331lfus:PowersemMember2019-12-292020-06-270000889331lfus:EBTechMember2019-12-292020-06-270000889331lfus:ATECMember2019-12-292020-06-270000889331lfus:PowersemMember2018-12-302019-06-290000889331lfus:EBTechMember2018-12-302019-06-290000889331lfus:ATECMember2018-12-302019-06-290000889331lfus:PowersemMember2019-12-280000889331lfus:EBTechMember2019-12-280000889331lfus:ATECMember2019-12-280000889331lfus:MWTMember2019-04-262019-04-26lfus:segment0000889331lfus:ElectronicsMemberus-gaap:OperatingSegmentsMember2020-03-292020-06-270000889331lfus:ElectronicsMemberus-gaap:OperatingSegmentsMember2019-03-312019-06-290000889331lfus:ElectronicsMemberus-gaap:OperatingSegmentsMember2019-12-292020-06-270000889331lfus:ElectronicsMemberus-gaap:OperatingSegmentsMember2018-12-302019-06-290000889331lfus:AutomotiveMemberus-gaap:OperatingSegmentsMember2020-03-292020-06-270000889331lfus:AutomotiveMemberus-gaap:OperatingSegmentsMember2019-03-312019-06-290000889331lfus:AutomotiveMemberus-gaap:OperatingSegmentsMember2019-12-292020-06-270000889331lfus:AutomotiveMemberus-gaap:OperatingSegmentsMember2018-12-302019-06-290000889331lfus:IndustrialMemberus-gaap:OperatingSegmentsMember2020-03-292020-06-270000889331lfus:IndustrialMemberus-gaap:OperatingSegmentsMember2019-03-312019-06-290000889331lfus:IndustrialMemberus-gaap:OperatingSegmentsMember2019-12-292020-06-270000889331lfus:IndustrialMemberus-gaap:OperatingSegmentsMember2018-12-302019-06-290000889331us-gaap:AllOtherSegmentsMemberus-gaap:CorporateNonSegmentMember2020-03-292020-06-270000889331us-gaap:AllOtherSegmentsMemberus-gaap:CorporateNonSegmentMember2019-03-312019-06-290000889331us-gaap:AllOtherSegmentsMemberus-gaap:CorporateNonSegmentMember2019-12-292020-06-270000889331us-gaap:AllOtherSegmentsMemberus-gaap:CorporateNonSegmentMember2018-12-302019-06-290000889331us-gaap:OperatingIncomeLossMemberus-gaap:AllOtherSegmentsMember2020-03-292020-06-270000889331us-gaap:OperatingIncomeLossMemberus-gaap:AllOtherSegmentsMember2019-12-292020-06-270000889331lfus:AutomotiveMemberus-gaap:FacilityClosingMember2020-03-292020-06-270000889331lfus:AutomotiveMember2019-12-292020-03-280000889331us-gaap:OperatingIncomeLossMember2019-03-312019-06-290000889331us-gaap:OperatingIncomeLossMember2018-12-302019-06-290000889331country:US2020-03-292020-06-270000889331country:US2019-03-312019-06-290000889331country:US2019-12-292020-06-270000889331country:US2018-12-302019-06-290000889331country:CN2020-03-292020-06-270000889331country:CN2019-03-312019-06-290000889331country:CN2019-12-292020-06-270000889331country:CN2018-12-302019-06-290000889331lfus:OtherCountriesMember2020-03-292020-06-270000889331lfus:OtherCountriesMember2019-03-312019-06-290000889331lfus:OtherCountriesMember2019-12-292020-06-270000889331lfus:OtherCountriesMember2018-12-302019-06-290000889331country:US2020-06-270000889331country:US2019-12-280000889331country:CN2020-06-270000889331country:CN2019-12-280000889331country:MX2020-06-270000889331country:MX2019-12-280000889331country:DE2020-06-270000889331country:DE2019-12-280000889331country:PH2020-06-270000889331country:PH2019-12-280000889331lfus:OtherCountriesMember2020-06-270000889331lfus:OtherCountriesMember2019-12-280000889331country:MX2019-12-292020-06-270000889331country:MX2018-12-302019-06-290000889331country:DE2019-12-292020-06-270000889331country:DE2018-12-302019-06-290000889331country:PH2019-12-292020-06-270000889331country:PH2018-12-302019-06-29
Table of Contents
United States
Securities and Exchange Commission
Washington, D.C. 20549
 
FORM 10-Q 
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 27, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___ to ___

Commission file number 0-20388
LITTELFUSE, INC. 
(Exact name of registrant as specified in its charter)
Delaware36-3795742
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
8755 West Higgins Road 
 Suite 500
ChicagoIllinois60631
(Address of principal executive offices)(ZIP Code)
 
Registrant’s telephone number, including area code: 773-628-1000
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of Each Class
Trading SymbolName of exchange on which registered
Common Stock, $0.01 par valueLFUSNASDAQGlobal Select Market
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]
 
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act (Check one): Large accelerated filer [X] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Yes [ ] No [ ]
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No [X]

As of July 24, 2020, the registrant had outstanding 24,341,584 shares of Common Stock, net of Treasury Shares.


Table of Contents
TABLE OF CONTENTS
 
 Page
  
PART I 
Item 1. 
 Condensed Consolidated Balance Sheets as of June 27, 2020 (unaudited) and December 28, 2019
 Condensed Consolidated Statements of Net (Loss) Income for the three and six months ended June 27, 2020 (unaudited) and June 29, 2019 (unaudited)
 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and six months ended June 27, 2020 (unaudited) and June 29, 2019 (unaudited)
 Condensed Consolidated Statements of Cash Flows for the six months ended June 27, 2020 (unaudited) and June 29, 2019 (unaudited)
Condensed Consolidated Statements of Stockholders' Equity for the six months ended June 27, 2020 (unaudited) and June 29, 2019 (unaudited)
 
Item 2.
Item 3.
Item 4.
PART II 
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.

2

Table of Contents


LITTELFUSE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)June 27,
2020
December 28,
2019
ASSETS  
Current assets:  
Cash and cash equivalents$651,867  $531,139  
Short-term investments44  44  
Trade receivables, less allowances of $39,970 and $42,043 at June 27, 2020 and December 28, 2019, respectively
185,806  202,309  
Inventories248,020  237,507  
Prepaid income taxes and income taxes receivable1,529  4,831  
Prepaid expenses and other current assets31,899  28,564  
Total current assets1,119,165  1,004,394  
Net property, plant, and equipment334,677  344,617  
Intangible assets, net of amortization301,661  321,247  
Goodwill787,601  820,589  
Investments23,678  24,099  
Deferred income taxes7,555  8,069  
Right of use lease assets, net19,621  21,918  
Other assets17,100  14,965  
Total assets$2,611,058  $2,559,898  
LIABILITIES AND EQUITY  
Current liabilities:  
Accounts payable$113,767  $117,320  
Accrued liabilities85,356  84,120  
Accrued income taxes10,034  14,122  
Current portion of long-term debt  10,000  
Total current liabilities209,157  225,562  
Long-term debt, less current portion776,205  669,158  
Deferred income taxes46,562  49,763  
Accrued post-retirement benefits39,653  38,198  
Non-current operating lease liabilities15,155  17,166  
Other long-term liabilities61,892  64,037  
Shareholders’ equity:
Common stock, par value $0.01 per share: 34,000,000 shares authorized; shares issued, June 27, 2020–25,983,147; December 28, 2019–25,855,203
257  256  
Treasury stock, at cost: 1,643,369 and 1,473,901 shares, respectively
(242,192) (216,447) 
Additional paid-in capital885,306  867,996  
Accumulated other comprehensive loss(124,219) (106,823) 
Retained earnings943,151  950,901  
Littelfuse, Inc. shareholders’ equity1,462,303  1,495,883  
Non-controlling interest131  131  
Total equity1,462,434  1,496,014  
Total liabilities and equity$2,611,058  $2,559,898  
 
See accompanying Notes to Condensed Consolidated Financial Statements.
3

Table of Contents

LITTELFUSE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME
(Unaudited)
 Three Months EndedSix Months Ended
(in thousands, except per share data)June 27,
2020
June 29,
2019
June 27,
2020
June 29,
2019
Net sales$307,337  $397,879  $653,433  $803,379  
Cost of sales208,238  256,071  430,622  506,343  
Gross profit99,099  141,808  222,811  297,036  
Selling, general, and administrative expenses53,981  57,666  108,367  120,621  
Goodwill impairment charge33,841    33,841    
Research and development expenses13,400  21,458  27,995  42,867  
Amortization of intangibles9,827  10,050  19,808  20,241  
Total operating expenses111,049  89,174  190,011  183,729  
Operating (loss) income(11,950) 52,634  32,800  113,307  
Interest expense5,855  5,589  11,273  11,275  
Foreign exchange (gain) loss(6,010) (3,575) (3,426) 668  
Other (income) expense, net(1,210) (2,947) 39  1,358  
(Loss) income before income taxes(10,585) 53,567  24,914  100,006  
Income taxes(1,594) 9,775  9,261  19,225  
Net (loss) income$(8,991) $43,792  $15,653  $80,781  
(Loss) income per share:    
Basic$(0.37) $1.77  $0.64  $3.27  
Diluted$(0.37) $1.75  $0.64  $3.23  
Weighted-average shares and equivalent shares outstanding:
Basic24,312  24,740  24,353  24,729  
Diluted24,312  24,983  24,520  24,998  
 
See accompanying Notes to Condensed Consolidated Financial Statements.

4

Table of Contents
LITTELFUSE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(Unaudited)
 
 Three Months EndedSix Months Ended
(in thousands)June 27,
2020
June 29,
2019
June 27,
2020
June 29,
2019
Net (loss) income$(8,991) $43,792  $15,653  $80,781  
Other comprehensive (loss) income:
Pension and postemployment adjustment, net of tax(10,839) 161  (10,278) 112  
Foreign currency translation adjustments8,422  (5,892) (7,118) 2,230  
Comprehensive (loss) income$(11,408) $38,061  $(1,743) $83,123  
 
See accompanying Notes to Condensed Consolidated Financial Statements.

5

Table of Contents
LITTELFUSE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
 Six Months Ended
(in thousands)June 27, 2020June 29, 2019
OPERATING ACTIVITIES  
Net income$15,653  $80,781  
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation27,728  25,727  
Amortization of intangibles19,808  20,241  
Deferred revenue(289)   
Impairment charges 36,078    
Stock-based compensation10,852  12,250  
Loss on investments and other assets542  2,458  
Deferred income taxes2,512  (632) 
Other(1,222) 2,009  
Changes in operating assets and liabilities:
Trade receivables13,914  (13,242) 
Inventories(10,761) 6,230  
Accounts payable3,439  (17,927) 
Accrued liabilities and income taxes(19,144) (36,713) 
Prepaid expenses and other assets2,176  (1,090) 
Net cash provided by operating activities101,286  80,092  
INVESTING ACTIVITIES  
Acquisitions of businesses, net of cash acquired  (775) 
Purchases of property, plant, and equipment(29,479) (25,249) 
Net proceeds from sale of property, plant and equipment89  6,212  
Net cash used in investing activities(29,390) (19,812) 
FINANCING ACTIVITIES  
Proceeds of revolving credit facility240,000    
Payments of term loan(145,000) (7,500) 
Net proceeds related to stock-based award activities3,642  3,011  
Purchases of common stock(22,927) (49,861) 
Debt issuance costs(1,786)   
Cash dividends paid(23,403) (21,274) 
Net cash provided by (used in) financing activities50,526  (75,624) 
Effect of exchange rate changes on cash and cash equivalents(1,694) 392  
Increase (decrease) in cash and cash equivalents120,728  (14,952) 
Cash and cash equivalents at beginning of period531,139  489,733  
Cash and cash equivalents at end of period$651,867  $474,781  
Supplementary Cash Flow Information
Cash paid during the period for interest$10,799  $11,478  
Capital expenditures, not yet paid$4,665  $  
 
See accompanying Notes to Condensed Consolidated Financial Statements.

6

Table of Contents
LITTELFUSE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited)
 Littelfuse, Inc. Shareholders’ Equity  
(in thousands, except share and per share data)Common StockAddl. Paid in CapitalTreasury StockAccum. Other Comp. (Loss) IncomeRetained EarningsNon-controlling InterestTotal
Balance at December 28, 2019$256  $867,996  $(216,447) $(106,823) $950,901  $131  $1,496,014  
Net income—  —  —  —  24,644  —  24,644  
Other comprehensive loss, net of tax—  —  —  (14,979) —  —  (14,979) 
Stock-based compensation—  2,965  —  —  —  —  2,965  
Withheld shares on restricted share units for withholding taxes—  —  (443) —  —  —  (443) 
Stock options exercised—  3,399  —  —  —  —  3,399  
Repurchases of common stock—  —  (22,927) —  —  —  (22,927) 
Cash dividends paid ($0.48 per share)
—  —  —  —  (11,725) —  (11,725) 
Balance at March 28, 2020$256  $874,360  $(239,817) $(121,802) $963,820  $131  $1,476,948  
Net loss—  —  —  —  (8,991) —  (8,991) 
Other comprehensive loss, net of tax—  —  —  (2,417) —  —  (2,417) 
Stock-based compensation—  7,887  —  —  —  —  7,887  
Withheld shares on restricted share units for withholding taxes—  —  (2,375) —  —  —  (2,375) 
Stock options exercised1  3,059  —  —  —  —  3,060  
Cash dividends paid ($0.48 per share)
—  —  —  —  (11,678) —  (11,678) 
Balance at June 27, 2020$257  $885,306  $(242,192) $(124,219) $943,151  $131  $1,462,434  

See accompanying Notes to Condensed Consolidated Financial Statements.
7

Table of Contents
 Littelfuse, Inc. Shareholders’ Equity  
(in thousands, except share and per share data)Common StockAddl. Paid in CapitalTreasury StockAccum. Other Comp. (Loss) IncomeRetained EarningsNon-controlling InterestTotal
Balance at December 29, 2018$254  $835,828  $(116,454) $(97,924) $856,507  $131  $1,478,342  
Net income—  —  —  —  36,989  —  36,989  
Other comprehensive loss, net of tax—  —  —  8,073  —  —  8,073  
Stock-based compensation—  3,966  —  —  —  —  3,966  
Withheld shares on restricted share units for withholding taxes—  —  (94) —  —  —  (94) 
Stock options exercised—  2,292  —  —  —  —  2,292  
Repurchases of common stock—  —  (13,555) —  —  —  (13,555) 
Cash dividends paid ($0.43 per share)
—  —  —  —  (10,625) —  (10,625) 
Balance at March 30, 2019$254  $842,086  $(130,103) $(89,851) $882,871  $131  $1,505,388  
Net income—  —  —  —  43,792  —  43,792  
Other comprehensive loss, net of tax—  —  —  (5,731) —  —  (5,731) 
Stock-based compensation—  8,284  —  —  —  —  8,284  
Withheld shares on restricted share units for withholding taxes—  —  (4,010) —  —  —  (4,010) 
Stock options exercised1  4,822  —  —  —  —  4,823  
Repurchases of common stock—  —  (31,955) —  —  —  (31,955) 
Cash dividends paid ($0.43 per share)
—  —  —  —  (10,649) —  (10,649) 
Balance at June 29, 2019$255  $855,192  $(166,068) $(95,582) $916,014  $131  $1,509,942  

See accompanying Notes to Condensed Consolidated Financial Statements.
8

Table of Contents
Notes to Condensed Consolidated Financial Statements 
 
1. Summary of Significant Accounting Policies and Other Information
 
Nature of Operations 
 
Littelfuse, Inc. and subsidiaries (the “Company”) is a global manufacturer of leading technologies in circuit protection, power control and sensing. Serving over 100,000 end customers, the Company’s products are found in automotive and commercial vehicles, industrial applications, data and telecommunications, medical devices, consumer electronics and appliances. With its broad product portfolio of fuses, semiconductors, polymers, ceramics, relays and sensors, and extensive global infrastructure, the Company’s worldwide associates partner with its customers to design, manufacture and deliver innovative, high-quality solutions for a safer, greener and increasingly connected world.
 
Basis of Presentation 
 
The Company’s accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in the consolidated balance sheets, statements of net (loss) income and comprehensive (loss) income, statements of cash flows, and statement of stockholders' equity prepared in conformity with U.S. GAAP have been condensed or omitted as permitted by such rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. They have been prepared in accordance with accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2019 which should be read in conjunction with the disclosures therein. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. Operating results for interim periods are not necessarily indicative of annual operating results.
 
Revenue Recognition
  
Revenue Disaggregation
 
The following tables disaggregate the Company’s revenue by primary business units for the three and six months ended June 27, 2020 and June 29, 2019:
 
 Three Months Ended June 27, 2020Six Months Ended June 27, 2020
(in thousands)Electronics
Segment
Automotive
Segment
Industrial
Segment
 
Total
Electronics
Segment
Automotive
Segment
Industrial
Segment
 
Total
Electronics – Passive Products and Sensors$92,846  $  $  $92,846  $177,444  $  $  $177,444  
Electronics – Semiconductor130,425      130,425  260,016      260,016  
Passenger Car Products  30,309    30,309    82,954    82,954  
Automotive Sensors  13,899