2021 Q4 Form 10-K Financial Statement

#000005697821000153 Filed on November 18, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $485.3M $424.3M $340.2M
YoY Change 173.12% 126.1%
Cost Of Revenue $254.0M $228.6M $191.7M
YoY Change 186.05% 136.55%
Gross Profit $231.3M $195.7M $148.5M
YoY Change 160.2% 113.89%
Gross Profit Margin 47.66% 46.12% 43.65%
Selling, General & Admin $44.45M $39.10M $30.51M
YoY Change 46.7% 9.33%
% of Gross Profit 19.22% 19.98% 20.55%
Research & Development $34.93M $36.14M $34.87M
YoY Change -1.88% 14.15%
% of Gross Profit 15.1% 18.47% 23.48%
Depreciation & Amortization $5.258M $3.465M $3.245M
YoY Change 3.1% -0.31%
% of Gross Profit 2.27% 1.77% 2.19%
Operating Expenses $79.38M $75.24M $65.38M
YoY Change 20.64% 11.85%
Operating Profit $151.9M $120.5M $83.11M
YoY Change 557.73% 657.58%
Interest Expense $448.0K $41.00K $74.00K
YoY Change -25.33% -83.41%
% of Operating Profit 0.29% 0.03% 0.09%
Other Income/Expense, Net
YoY Change
Pretax Income $155.3M $121.0M $83.63M
YoY Change 555.21% 602.8%
Income Tax $21.57M $7.212M $12.21M
% Of Pretax Income 13.89% 5.96% 14.6%
Net Earnings $133.7M $113.8M $71.32M
YoY Change 746.27% 539.58%
Net Earnings / Revenue 27.55% 26.81% 20.97%
Basic Earnings Per Share $1.83 $1.15
Diluted Earnings Per Share $2.090M $1.79 $1.13
COMMON SHARES
Basic Shares Outstanding 62.42M shares 62.02M shares 62.07M shares
Diluted Shares Outstanding 63.49M shares 63.24M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $739.8M $635.0M $564.3M
YoY Change 39.56% 9.4%
Cash & Equivalents $362.8M $388.0M $257.3M
Short-Term Investments $377.0M $247.0M $307.0M
Other Short-Term Assets $23.59M $21.92M $23.50M
YoY Change 20.34% 71.53%
Inventory $167.3M $153.3M $140.0M
Prepaid Expenses
Receivables $421.2M $369.3M $307.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.352B $1.180B $1.036B
YoY Change 57.16% 23.42%
LONG-TERM ASSETS
Property, Plant & Equipment $67.98M $66.23M $61.97M
YoY Change 14.94% 11.0%
Goodwill $72.95M $73.68M $73.55M
YoY Change 28.67% 31.21%
Intangibles $42.75M $45.03M $46.05M
YoY Change 12.59% 20.52%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $2.363M $2.351M $2.292M
YoY Change 8.1% 8.52%
Total Long-Term Assets $249.7M $230.3M $221.2M
YoY Change 28.49% 16.27%
TOTAL ASSETS
Total Short-Term Assets $1.352B $1.180B $1.036B
Total Long-Term Assets $249.7M $230.3M $221.2M
Total Assets $1.602B $1.410B $1.257B
YoY Change 51.88% 22.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.6M $144.3M $123.8M
YoY Change 168.06% 149.36%
Accrued Expenses $72.48M $63.01M $47.10M
YoY Change 218.46% 0.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $351.9M $308.3M $259.6M
YoY Change 122.86% 81.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.19M $13.22M $13.17M
YoY Change 14.47% 30.69%
Total Long-Term Liabilities $14.19M $13.22M $13.17M
YoY Change 14.47% 30.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $351.9M $308.3M $259.6M
Total Long-Term Liabilities $14.19M $13.22M $13.17M
Total Liabilities $506.4M $436.5M $390.1M
YoY Change 70.75% 39.42%
SHAREHOLDERS EQUITY
Retained Earnings $948.6M $823.5M $718.4M
YoY Change 53.96% 18.21%
Common Stock $550.1M $546.2M $542.1M
YoY Change 2.02% 1.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $400.4M $396.7M $392.7M
YoY Change 1.42% 1.39%
Treasury Stock Shares 23.43M shares 23.38M shares 23.30M shares
Shareholders Equity $1.095B $973.3M $866.9M
YoY Change
Total Liabilities & Shareholders Equity $1.602B $1.410B $1.257B
YoY Change 51.88% 22.1%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $133.7M $113.8M $71.32M
YoY Change 746.27% 539.58%
Depreciation, Depletion And Amortization $5.258M $3.465M $3.245M
YoY Change 3.1% -0.31%
Cash From Operating Activities $123.4M $90.96M $27.10M
YoY Change 289.2% 14.83%
INVESTING ACTIVITIES
Capital Expenditures -$6.028M -$7.847M -$4.000M
YoY Change 54.56% 29.03%
Acquisitions
YoY Change
Other Investing Activities -$129.9M $60.07M $5.800M
YoY Change -12.17% -89.26%
Cash From Investing Activities -$135.9M $52.22M $1.800M
YoY Change -10.51% -96.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.28M -12.88M -9.900M
YoY Change -19.24% -93.17%
NET CHANGE
Cash From Operating Activities 123.4M 90.96M 27.10M
Cash From Investing Activities -135.9M 52.22M 1.800M
Cash From Financing Activities -12.28M -12.88M -9.900M
Net Change In Cash -24.83M 130.3M 19.00M
YoY Change -81.66% -126.99%
FREE CASH FLOW
Cash From Operating Activities $123.4M $90.96M $27.10M
Capital Expenditures -$6.028M -$7.847M -$4.000M
Free Cash Flow $129.4M $98.80M $31.10M
YoY Change 263.49% 16.48%

Facts In Submission

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BASIS OF PRESENTATION<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These consolidated financial statements include the accounts of Kulicke and Soffa Industries, Inc. and its subsidiaries (the “Company”), with appropriate elimination of intercompany balances and transactions. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Each of the Company's first three fiscal quarters ends on the Saturday that is 13 weeks after the end of the immediately preceding fiscal quarter. The fourth quarter of each fiscal year ends on the Saturday closest to September 30. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks. The 2021, 2020, and 2019 fiscal years ended on October 2, 2021, October 3, 2020 and September 28, 2019, respectively. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of Business</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company designs, manufactures and sells capital equipment and tools as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company's operating results depend upon the capital and operating expenditures of semiconductor device manufacturers, integrated device manufacturers, outsourced semiconductor assembly and test providers (“OSATs”), and other electronics manufacturers, including automotive electronics suppliers, worldwide which, in turn, depend on the current and anticipated market demand for semiconductors and products utilizing semiconductors. The semiconductor industry is highly volatile and experiences downturns and slowdowns which can have a severe negative effect on the semiconductor industry's demand for semiconductor capital equipment, including assembly equipment manufactured and sold by the Company and, to a lesser extent, tools, including those sold by the Company. These downturns and slowdowns have in the past adversely affected the Company's operating results. The Company believes such volatility will continue to characterize the industry and the Company's operations in the future.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities, net revenue and expenses during the reporting periods, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. On an ongoing basis, management evaluates estimates, including but not limited to, those related to accounts receivable, reserves for excess and obsolete inventory, carrying value and lives of fixed assets, goodwill and intangible assets, the valuation estimates and assessment of impairment and observable price adjustments, income taxes, equity-based compensation expense, and warranties. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable. As a result, management makes judgments regarding the carrying values of the Company's assets and liabilities that are not readily apparent from other sources. Authoritative pronouncements, historical experience and assumptions are used as the basis for making estimates, and on an ongoing basis, management evaluates these estimates. Actual results may differ from these estimates.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to the coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of October 2, 2021. While there was no material impact to our consolidated financial statements as of and for the year ended October 2, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to our consolidated financial statements in future reporting periods. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reviews its warranty reserve balances as part of its ongoing policy review. At the start of fiscal 2020, the Company determined there was a need to obtain granular data given uncertainty in sales demand. Accordingly</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Company commenced the collection of granular data over the four fiscal quarters in 2020 to establish a more precise estimate of its warranty reserve. This collection was finalized and the information incorporated in the fourth quarter of fiscal 2020. This resulted in a decrease to the reserve for warranty and an increase in net income by $5.4 million for the fiscal year 2020, as well as an increase to net income per share, basic and diluted, by $0.09 and $0.09, respectively. For further information on warranty reserve, see Notes 14 and 17 below.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Vulnerability to Certain Concentrations</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which may subject the Company to concentrations of credit risk as of October 2, 2021 and October 3, 2020 consisted primarily of trade receivables. The Company manages credit risk associated with investments by investing its excess cash in highly rated debt instruments of the U.S. government and its agencies, financial institutions, and corporations. The Company has established investment guidelines relative to diversification and maturities designed to maintain safety and liquidity. These guidelines are periodically reviewed and modified as appropriate. The Company does not have any exposure to sub-prime financial instruments or auction rate securities. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's trade receivables result primarily from the sale of semiconductor equipment, related accessories and replacement parts, and tools to a relatively small number of large manufacturers in a highly concentrated industry. Write-offs of uncollectible accounts have historically not been material. The Company actively monitors its customers' financial strength to reduce the risk of loss, including as a result of COVID-19. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's products are complex and require raw materials, components and subassemblies having a high degree of reliability, accuracy and performance. The Company relies on subcontractors to manufacture many of these components and subassemblies and it relies on sole source suppliers for some important components and raw material inventory.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Foreign Currency Translation and Remeasurement</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company's business is transacted in U.S. dollars; however, the functional currencies of some of the Company's subsidiaries are their local currencies. In accordance with ASC No. 830, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Foreign Currency Matters</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 830”), for a subsidiary of the Company that has a functional currency other than the U.S. dollar, gains and losses resulting from the translation of the functional currency into U.S. dollars for financial statement presentation are not included in determining net income, but are accumulated in the cumulative translation adjustment account as a separate component of shareholders' equity (accumulated other comprehensive income / (loss)). The tax effect of currency translation adjustments related to unremitted foreign earnings no longer deemed to be indefinitely reinvested outside the U.S. is reflected in the determination of the Company's net income or other comprehensive income ("OCI"). Gains and losses resulting from foreign currency transactions are included in the determination of net income.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's operations are exposed to changes in foreign currency exchange rates due to transactions denominated in currencies other than the location's functional currency. The Company is also exposed to foreign currency fluctuations that impact the remeasurement of net monetary assets of those operations whose functional currency, the U.S. dollar, differs from their respective local currencies, most notably in Israel, Singapore and Switzerland. In addition to net monetary remeasurement, the Company has exposures related to the translation of subsidiary financial statements from their functional currency, the local currency, into its reporting currency, the U.S. dollar, most notably in the Netherlands, China, Taiwan, Japan and Germany. The Company's U.S. operations also have foreign currency exposure due to net monetary assets denominated in currencies other than the U.S. dollar.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative Financial Instruments </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s primary objective for holding derivative financial instruments is to manage the fluctuation in foreign exchange rates and accordingly is not speculative in nature. The Company’s international operations are exposed to changes in foreign exchange rates as described above. The Company has established a program to monitor the forecasted transaction currency risk to protect against foreign exchange rate volatility. Generally, the Company uses foreign exchange forward contracts in these hedging programs. These instruments, which have maturities of up to twelve months, are recorded at fair value and are included in prepaid expenses and other current assets, or accrued expenses and other current liabilities. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our accounting policy for derivative financial instruments is based on whether they meet the criteria for designation as a cash flow hedge. A designated hedge with exposure to variability in the functional currency equivalent of the future foreign currency cash flows of a forecasted transaction is referred to as a cash flow hedge. The criteria for designating a derivative as a cash flow hedge include the assessment of the instrument’s effectiveness in risk reduction, matching of the derivative instrument to its underlying transaction, and the assessment of the probability that the underlying transaction will occur. For derivatives with cash flow hedge accounting designation, we report the after-tax gain / (loss) from the effective portion of the hedge as a component of accumulated other comprehensive income / (loss) and reclassify it into earnings in the same period in which the hedged transaction affects earnings and in the same line item on the consolidated statement of operations as the impact of the hedged transaction. Derivatives that we designate as cash flow hedges are classified in the consolidated statement of cash flows in the same section as the underlying item, primarily within cash flows from operating activities. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The hedge effectiveness of these derivative instruments is evaluated by comparing the cumulative change in the fair value of the hedge contract with the cumulative change in the fair value of the forecasted cash flows of the hedged item.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If a cash flow hedge is discontinued because it is no longer probable that the original hedged transaction will occur as previously anticipated, the cumulative unrealized gain or loss on the related derivative is reclassified from accumulated other comprehensive income / (loss) into earnings. Subsequent gain / (loss) on the related derivative instrument is recognized into earnings in each period until the instrument matures, is terminated, is re-designated as a qualified cash flow hedge, or is sold. Ineffective portions of cash flow hedges, as well as amounts excluded from the assessment of effectiveness, are recognized in earnings.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Cash Equivalents </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Cash equivalents are measured at fair value based on Level 1 measurement, or quoted market prices, as defined by ASC No. 820, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurements and Disclosures</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Equity Investments </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company invests in equity securities in companies to promote business and strategic objectives. Equity investments are measured and recorded as follows:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Equity method investments are equity securities in investees that provide the Company with the ability to exercise significant influence in which it lacks a controlling financial interest. Our proportionate share of the income or loss is recognized on a one-quarter lag and is recorded as share of results of equity-method investee, net of tax.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Non-marketable equity securities are equity securities without readily determinable fair value that are measured and recorded using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Allowance for Doubtful Accounts</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains allowances for doubtful accounts for estimated losses resulting from its customers' failure to make required payments. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, including as a result of COVID-19, additional allowances may be required. If global or regional economic conditions deteriorate or political conditions were to change in some of the countries where the Company does business, including as a result of COVID-19, it could have a significant impact on the results of operations, and the Company's ability to realize the full value of its accounts receivable.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Inventories</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories are stated at the lower of cost (on a first-in, first-out basis) or net realizable value. The Company generally provides reserves for obsolete inventory and for inventory considered to be in excess of demand. Demand is generally defined as 18 months forecasted future consumption for equipment, 24 months forecasted future consumption for spare parts, and 12 months forecasted future consumption for tools. Forecasted consumption is based upon internal projections, historical sales volumes, customer order activity and a review of consumable inventory levels at customers' facilities. The Company communicates forecasts of its future consumption to its suppliers and adjusts commitments to those suppliers accordingly. If required, the Company reserves the difference between the carrying value of its inventory and the lower of cost or net realizable value, based upon projections about future consumption, and market conditions. If actual market conditions are less favorable than projections, additional inventory reserves may be required.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventory reserve provision for certain subsidiaries is determined based on management's estimate of future consumption for equipment and spare parts. This estimate is based on historical sales volumes, internal projections and market developments and trends. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Property, Plant and Equipment </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment are carried at cost. The cost of additions and those improvements which increase the capacity or lengthen the useful lives of assets are capitalized while repair and maintenance costs are expensed as incurred. Depreciation and amortization are provided on a straight-line basis over the estimated useful lives as follows: buildings 25 years; machinery, equipment, furniture and fittings 3 to 10 years; toolings 1 year; and leasehold improvements are based on the shorter of the life of lease or life of asset. Purchased computer software costs related to business and financial systems are amortized over a five-year period on a straight-line basis. Land is not depreciated.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Valuation of Long-Lived Assets </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC No. 360, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property, Plant &amp; Equipment</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ("ASC 360"), the Company's definite lived intangible assets and property, plant and equipment are tested for impairment based on undiscounted cash flows when triggering events occur, and if impaired, written-down to fair value based on either discounted cash flows or appraised values. ASC 360 also provides a single accounting model for long-lived assets to be disposed of by sale and establishes additional criteria that would have to be met to classify an asset as held for sale. The carrying amount of an asset or asset group is not recoverable to the extent it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. Estimates of future cash flows used to test the recoverability of a long-lived asset or asset group must incorporate the entity's own assumptions about its use of the asset or asset group and must factor in all available evidence.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ASC 360 requires that long-lived assets be tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Such events include significant under-performance relative to historical internal forecasts or projected future operating results; significant changes in the manner of use of the assets; significant negative industry or economic trends; or significant changes in market capitalization. During the fiscal years ended October 2, 2021 and October 3, 2020, no "triggering" events occurred. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting for Impairment of Goodwill</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ASC No. 350, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles - Goodwill and Other</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> requires goodwill and other intangible assets with indefinite lives to be reviewed for impairment annually, or more frequently if circumstances indicate a possible impairment. We assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If, after assessing the qualitative factors, a company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing the impairment test is unnecessary. However, if a company concludes otherwise, then it is required to perform the goodwill impairment test. The Company's impairment test is performed by comparing the fair value of a reporting unit with its carrying value, and determining if the carrying amount exceeds its fair value.   </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the annual evaluation, the Company performs an impairment test of its goodwill in the fourth quarter of each fiscal year to coincide with the completion of its annual forecasting and refreshing of its business outlook processes. On an ongoing basis, the Company monitors if a “triggering” event has occurred that may have the effect of reducing the fair value of a reporting unit below its respective carrying value. Adverse changes in expected operating results and/or unfavorable changes in other economic factors used to estimate fair values could result in a non-cash impairment charge in the future. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment assessments inherently involve judgment as to the assumptions made about the expected future cash flows and the impact of market conditions on those assumptions. Future events and changing market conditions may impact the assumptions as to prices, costs, growth rates or other factors that may result in changes in the estimates of future cash flows. Although the Company believes the assumptions that it has used in testing for impairment are reasonable, significant changes in any one of the assumptions could produce a significantly different result. Indicators of potential impairment, including significant and unforeseen customer losses, a significant adverse change in legal factors or in the business climate, a significant adverse action or assessment by a regulator, a significant stock price decline or unanticipated competition may lead the Company to perform interim goodwill impairment assessments. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For further information on goodwill and other intangible assets, see Note 4 below.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC No. 606, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from Contracts with Customers</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company recognizes revenue when we satisfy performance obligations as evidenced by the transfer of control of our products or services to customers. In general, the Company generates revenue from product sales, either directly to customers or to distributors. In determining whether a contract exists, we evaluate the terms of the agreement, the relationship with the customer or distributor and their ability to pay.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes revenue from sales of our products, including sales to our distributors, at a point in time, generally upon shipment or delivery to the customer or distributor, depending upon the terms of the sales order. Control is considered transferred when title and risk of loss pass, when the customer becomes obligated to pay and, where applicable, when the customer has accepted the products or upon expiration of the acceptance period. For sales to distributors, payment is due on our standard commercial terms and is not contingent upon resale of the products.</span></div><div style="margin-bottom:3.3pt;margin-top:6pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our business is subject to contingencies related to customer orders, including: </span></div><div style="margin-top:6pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Right of Return</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: A large portion of our revenue comes from the sale of equipment used in the semiconductor assembly process. Other product sales relate to consumable products, which are sold in high-volume quantities, and are generally maintained at low stock levels at the customers' facility. Customer returns have historically represented a very small percentage of customer sales on an annual basis.</span></div><div style="margin-top:6pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Warranties</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Our equipment is generally shipped with a one-year warranty against manufacturing defects. We establish reserves for estimated warranty expense when revenue for the related equipment is recognized. The reserve for estimated warranty expense is based upon historical experience and management's estimate of future expenses, including product parts replacement, freight charges and labor costs expected to be incurred to correct product failures during the warranty period.</span></div><div style="margin-top:6pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Conditions of Acceptance: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales of our consumable products generally do not have customer acceptance terms. In certain cases, sales of our equipment have customer acceptance clauses which may require the equipment to perform in accordance with customer specifications or when installed at the customer's facility. In such cases, if the terms of </span></div><div style="margin-top:6pt;padding-left:31.5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">acceptance are satisfied at our facility prior to shipment, the revenue for the equipment will be recognized upon shipment. If the terms of acceptance are satisfied at our customers' facilities, the revenue for the equipment will not be recognized until acceptance, which is typically obtained after installation and testing, is received from the customer. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Service revenue is generally recognized over time as the services are performed. For fiscal 2021 and 2020, the service revenue is not material.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company measures revenue based on the amount of consideration we expect to be entitled to in exchange for products or services. Any variable consideration such as sales incentives are recognized as a reduction of net revenue at the time of revenue recognition.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The length of time between invoicing and payment is not significant under our payment terms. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. Shipping and handling costs billed to customers are recognized in net revenue. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shipping and handling costs paid by the Company are included in cost of sales.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Research and Development </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company charges research and development costs associated with the development of new products to expense when incurred. In certain circumstances, pre-production machines that the Company intends to sell are carried as inventory until sold.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC No. 740, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, deferred income taxes are determined using the balance sheet method</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company records a valuation allowance to reduce its deferred tax assets to the amount expected, on a more likely than not basis, to be realized. While the Company has considered future taxable income and ongoing tax planning strategies in assessing the need for the valuation allowance, if it were to determine that it would be able to realize its deferred tax assets in the future in excess of its net recorded amount, an adjustment to deferred tax assets would increase income in the period when such determination is made. Likewise, should the Company determine it would not be able to realize all or part of its deferred tax assets in the future, an adjustment to deferred tax assets would decrease income in the period when such determination is made.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determines the amount of unrecognized tax benefit with respect to uncertain tax positions taken or expected to be taken on its income tax returns in accordance with ASC No. 740 Topic 10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes, General </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 740.10”). Under ASC 740.10, the Company utilizes a two-step approach for evaluating uncertain tax positions. Step one, or recognition, requires a company to determine if the weight of available evidence indicates a tax position is more likely than not to be sustained upon examination solely based on its technical merit. Step two, or measurement, is based on the largest amount of benefit, which is more likely than not to be realized on settlement with the taxing authority, including resolution of related appeals or litigation processes, if any.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Equity-Based Compensation </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for equity-based compensation under the provisions of ASC No. 718,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Compensation - Stock Compensation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 718”). ASC 718 requires the recognition of the fair value of the equity-based compensation in net income. Compensation expense associated with Relative TSR Performance Share Units is determined using a Monte-Carlo valuation model, and compensation expense associated with time-based and Growth Performance Share Units is determined based on the number of shares granted and the fair value on the date of grant. See Note 11 for a summary of the terms of these performance-based awards. The fair value of the Company's stock option awards is estimated using a Black-Scholes option valuation model. The fair value of equity-based awards is amortized over the vesting period of the award, and the Company elected to use the straight-line method for awards granted after the adoption of ASC 718.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Earnings per Share </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Earnings per share (“EPS”) are calculated in accordance with ASC No. 260,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Earnings per Share</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Basic EPS include only the weighted average number of common shares outstanding during the period. Diluted EPS include the weighted average number of common shares and the dilutive effect of stock options, restricted stock awards, performance share units and restricted share units outstanding during the period, when such instruments are dilutive.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting for Business Acquisitions</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for business acquisitions in accordance with ASC No. 805,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Business Combinations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The fair value of the net assets acquired and the results of operations of the acquired businesses are included in the consolidated financial statements from the acquisition date forward. The Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and results of operations during the reporting period. Estimates are used in accounting </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for, among other things, the fair value of acquired net operating assets, property, plant and equipment, deferred revenue, intangible assets and related deferred income taxes, useful lives of property, plant and equipment, and amortizable lives of acquired intangible assets. Any excess of the purchase consideration over the identified fair value of the assets and liabilities assumed is recognized as goodwill. The valuation of these tangible and identifiable intangible assets and liabilities is subject to further management review and may change materially between the preliminary allocation and end of the purchase price allocation period.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restructuring Charges</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restructuring charges may consist of voluntary or involuntary severance-related charges, asset-related charges and other costs due to exit activities. We recognize voluntary termination benefits when an employee accepts the offered benefit arrangement. We recognize involuntary severance-related charges depending on whether the termination benefits are provided under an ongoing benefit arrangement or under a one-time benefit arrangement. If the former, we recognize the charges once they are probable and the amounts are estimable. If the latter, we recognize the charges once the benefits have been communicated to employees.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recent Accounting Pronouncements</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016, the FASB issued ASU 2016-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This ASU replaces the impairment methodology in current GAAP, which delays recognition of credit losses until it is probable a loss has been incurred, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. We adopted this ASU in the first quarter of fiscal 2021. The adoption of this ASU did not have a material impact on our consolidated financial statements.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Collaborative Arrangements</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2018, the FASB issued ASU 2018-18, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Collaborative Arrangements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (Topic 808). This ASU clarifies that certain transactions between collaborative arrangement participants should be accounted for as revenue when the collaborative arrangement participant is a customer in the context of a unit of account and precludes recognizing as revenue consideration received from a collaborative arrangement participant if the participant is not a customer. This ASU requires retrospective adoption to the date we adopted ASC 606 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings of the earliest annual period presented. We adopted this ASU in the first quarter of fiscal 2021. The adoption of this ASU did not have a material impact on our consolidated financial statements.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, the FASB issued ASU 2019-12, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (Topic 740). The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarify and amend existing guidance. This ASU will be effective for us in the first quarter of 2022. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.</span></div>
CY2021 us-gaap Fiscal Period
FiscalPeriod
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span>Each of the Company's first three fiscal quarters ends on the Saturday that is 13 weeks after the end of the immediately preceding fiscal quarter. The fourth quarter of each fiscal year ends on the Saturday closest to September 30. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks. The 2021, 2020, and 2019 fiscal years ended on October 2, 2021, October 3, 2020 and September 28, 2019, respectively.
CY2020 klic Increase Decrease In Earnings Per Share Basic
IncreaseDecreaseInEarningsPerShareBasic
0.09
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities, net revenue and expenses during the reporting periods, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. On an ongoing basis, management evaluates estimates, including but not limited to, those related to accounts receivable, reserves for excess and obsolete inventory, carrying value and lives of fixed assets, goodwill and intangible assets, the valuation estimates and assessment of impairment and observable price adjustments, income taxes, equity-based compensation expense, and warranties. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable. As a result, management makes judgments regarding the carrying values of the Company's assets and liabilities that are not readily apparent from other sources. Authoritative pronouncements, historical experience and assumptions are used as the basis for making estimates, and on an ongoing basis, management evaluates these estimates. Actual results may differ from these estimates.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to the coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of October 2, 2021. While there was no material impact to our consolidated financial statements as of and for the year ended October 2, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to our consolidated financial statements in future reporting periods. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reviews its warranty reserve balances as part of its ongoing policy review. At the start of fiscal 2020, the Company determined there was a need to obtain granular data given uncertainty in sales demand. Accordingly</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Company commenced the collection of granular data over the four fiscal quarters in 2020 to establish a more precise estimate of its warranty reserve. This collection was finalized and the information incorporated in the fourth quarter of fiscal 2020. This resulted in a decrease to the reserve for warranty and an increase in net income by $5.4 million for the fiscal year 2020, as well as an increase to net income per share, basic and diluted, by $0.09 and $0.09, respectively. For further information on warranty reserve, see Notes 14 and 17 below.</span></div>
CY2020 klic Change In Warranty Reserve Methodology
ChangeInWarrantyReserveMethodology
5400000 USD
CY2020 klic Increase Decrease In Earnings Per Share Diluted
IncreaseDecreaseInEarningsPerShareDiluted
0.09
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
377000000 USD
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
342000000 USD
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
94493000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
60205000 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
55866000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
39753000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
40006000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
43015000 USD
CY2021Q4 us-gaap Inventory Gross
InventoryGross
190365000 USD
CY2020Q4 us-gaap Inventory Gross
InventoryGross
142973000 USD
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
23042000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
31164000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
167323000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
111809000 USD
CY2021Q4 us-gaap Land
Land
2182000 USD
CY2020Q4 us-gaap Land
Land
2182000 USD
CY2021Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
23314000 USD
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
22830000 USD
CY2021Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
30054000 USD
CY2020Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
23111000 USD
CY2021Q4 klic Equipment And Software Gross
EquipmentAndSoftwareGross
40945000 USD
CY2020Q4 klic Equipment And Software Gross
EquipmentAndSoftwareGross
38524000 USD
CY2021Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
87994000 USD
CY2020Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
80953000 USD
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
9562000 USD
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
7111000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
194051000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174711000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
126069000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
115564000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
67982000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59147000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
72478000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22759000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
66531000 USD
CY2020Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
7397000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
37237000 USD
CY2021Q4 klic Accrued Liabilities For Commission And Professional Fees Current
AccruedLiabilitiesForCommissionAndProfessionalFeesCurrent
6190000 USD
CY2020Q4 klic Accrued Liabilities For Commission And Professional Fees Current
AccruedLiabilitiesForCommissionAndProfessionalFeesCurrent
2716000 USD
CY2021Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
8673000 USD
CY2021Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
31000 USD
CY2020Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
449000 USD
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7667000 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6204000 USD
CY2021Q4 klic Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
161570000 USD
CY2020Q4 klic Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
76762000 USD
CY2021 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
-545000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
72949000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
56695000 USD
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
16799000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
42752000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
37972000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6357000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6258000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6258000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6258000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
6258000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
11363000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
42752000 USD
CY2021Q4 us-gaap Cash
Cash
269201000 USD
CY2021Q4 klic Cashand Cash Equivalents Amortized Cost
CashandCashEquivalentsAmortizedCost
362806000 USD
CY2021Q4 klic Cashand Cash Equivalents Gross Unrealized Gain
CashandCashEquivalentsGrossUnrealizedGain
0 USD
CY2021Q4 klic Cashand Cash Equivalents Gross Unrealized Loss
CashandCashEquivalentsGrossUnrealizedLoss
18000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
362788000 USD
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
377000000 USD
CY2021Q4 klic Availableforsale Securities Shortterm Investments Gross Unrealized Gain
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedGain
0 USD
CY2021Q4 klic Availableforsale Securities Shortterm Investments Gross Unrealized Loss
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedLoss
0 USD
CY2021Q4 klic Availableforsale Securities Shortterm Investments Fair Value Disclosure
AvailableforsaleSecuritiesShorttermInvestmentsFairValueDisclosure
377000000 USD
CY2021Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestments
739806000 USD
CY2021Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Gain
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedGain
0 USD
CY2021Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Loss
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedLoss
18000 USD
CY2021Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Fair Value Disclosure
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsFairValueDisclosure
739788000 USD
CY2020Q4 us-gaap Cash
Cash
42997000 USD
CY2020Q4 klic Cashand Cash Equivalents Amortized Cost
CashandCashEquivalentsAmortizedCost
188137000 USD
CY2020Q4 klic Cashand Cash Equivalents Gross Unrealized Gain
CashandCashEquivalentsGrossUnrealizedGain
0 USD
CY2020Q4 klic Cashand Cash Equivalents Gross Unrealized Loss
CashandCashEquivalentsGrossUnrealizedLoss
10000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
188127000 USD
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
342000000 USD
CY2020Q4 klic Availableforsale Securities Shortterm Investments Gross Unrealized Gain
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedGain
0 USD
CY2020Q4 klic Availableforsale Securities Shortterm Investments Gross Unrealized Loss
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedLoss
0 USD
CY2020Q4 klic Availableforsale Securities Shortterm Investments Fair Value Disclosure
AvailableforsaleSecuritiesShorttermInvestmentsFairValueDisclosure
342000000 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestments
530137000 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Gain
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedGain
0 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Loss
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedLoss
10000 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Fair Value Disclosure
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsFairValueDisclosure
530127000 USD
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
6388000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
6321000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
0 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1214000 USD
CY2021Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
6388000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
7535000 USD
CY2021Q1 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
1000000 USD
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
57682000 USD
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
37264000 USD
CY2021 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimate Of Time To Transfer1
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimateOfTimeToTransfer1
P12M
CY2021 klic Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
3 renewal_option
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
7629000 USD
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
6942000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
7211000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
6296000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y7M6D
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7249000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6621000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6224000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5903000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5085000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
26372000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
57454000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14467000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
42987000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4903000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
38084000 USD
CY2021 klic Defined Benefit Plan Employer Contribution Percentage Match Of Compensation
DefinedBenefitPlanEmployerContributionPercentageMatchOfCompensation
employee contributions and matching Company contributions from 4% to 6%
CY2021 us-gaap Pension Contributions
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1780000 USD
CY2020 us-gaap Pension Contributions
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1514000 USD
CY2018Q3 us-gaap Stock Repurchase Program Authorized Amount1
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200000000 USD
CY2019Q1 us-gaap Stock Repurchase Program Authorized Amount1
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300000000 USD
CY2020Q3 klic Increase Decrease In Stock Repurchase Program Authorized Amount
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100000000 USD
CY2020Q3 us-gaap Stock Repurchase Program Authorized Amount1
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400000000 USD
CY2021 us-gaap Treasury Stock Shares Acquired
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215000.0 shares
CY2021 us-gaap Stock Repurchased During Period Value
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10200000 USD
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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132000000 USD
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
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0.14
CY2021 us-gaap Common Stock Dividends Per Share Declared
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0.56
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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682000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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10000 USD
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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3088000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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3088000 USD
CY2021Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
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-616000 USD
CY2020Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
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557000 USD
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-3022000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-2521000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
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15502000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15019000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14332000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15502000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15019000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14332000 USD
CY2020Q4 us-gaap Contract With Customer Liability
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2958000 USD
CY2019Q3 us-gaap Contract With Customer Liability
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1896000 USD
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
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-59368000 USD
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
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-25207000 USD
CY2021 klic Contractwith Customer Liability Increase Decrease Additions
ContractwithCustomerLiabilityIncreaseDecreaseAdditions
72006000 USD
CY2020 klic Contractwith Customer Liability Increase Decrease Additions
ContractwithCustomerLiabilityIncreaseDecreaseAdditions
26269000 USD
CY2021Q4 us-gaap Contract With Customer Liability
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15596000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2958000 USD
CY2021 us-gaap Net Income Loss
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367161000 USD
CY2021 us-gaap Net Income Loss
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367161000 USD
CY2020 us-gaap Net Income Loss
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52300000 USD
CY2020 us-gaap Net Income Loss
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52300000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
11653000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
11653000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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62009000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62009000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62828000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62828000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65286000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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65286000 shares
CY2021 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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1506000 USD
CY2020 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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531000 USD
CY2019 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
662000 USD
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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63515000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63359000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65948000 shares
CY2021 us-gaap Earnings Per Share Basic
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5.92
CY2021 us-gaap Earnings Per Share Basic
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5.92
CY2020 us-gaap Earnings Per Share Basic
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0.83
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2021 klic Earnings Per Share Diluted Adjustment
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-0.14
CY2020 klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
0
CY2019 klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
0
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.78
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.83
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2021 klic Selling General And Administrative Incentive Compensation Expense
SellingGeneralAndAdministrativeIncentiveCompensationExpense
39779000 USD
CY2020 klic Selling General And Administrative Incentive Compensation Expense
SellingGeneralAndAdministrativeIncentiveCompensationExpense
18524000 USD
CY2019 klic Selling General And Administrative Incentive Compensation Expense
SellingGeneralAndAdministrativeIncentiveCompensationExpense
423000 USD
CY2021 klic Warranty And Retrofit Expense
WarrantyAndRetrofitExpense
22068000 USD
CY2020 klic Warranty And Retrofit Expense
WarrantyAndRetrofitExpense
8692000 USD
CY2019 klic Warranty And Retrofit Expense
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13030000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-8853000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-14909000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-14125000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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423403000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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79243000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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48812000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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414550000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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64334000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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34687000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
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26563000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
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5129000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
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6580000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
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261000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
89000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
214000 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
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30771000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
6508000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
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6384000 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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-2979000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
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-690000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2959000 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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-7321000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
962000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
6773000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47295000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11998000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22910000 USD
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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86915000 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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13510000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
7284000 USD
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-15028000 USD
CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1634000 USD
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-4335000 USD
CY2021 klic Income Tax Reconciliation Benefits From Foreign Approved Enterprises
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45501000 USD
CY2020 klic Income Tax Reconciliation Benefits From Foreign Approved Enterprises
IncomeTaxReconciliationBenefitsFromForeignApprovedEnterprises
6781000 USD
CY2019 klic Income Tax Reconciliation Benefits From Foreign Approved Enterprises
IncomeTaxReconciliationBenefitsFromForeignApprovedEnterprises
5084000 USD
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
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2705000 USD
CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2915000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
3041000 USD
CY2021 us-gaap Income Tax Reconciliation Tax Credits Foreign
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20281000 USD
CY2020 us-gaap Income Tax Reconciliation Tax Credits Foreign
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1701000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Credits Foreign
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22744000 USD
CY2021 klic Effective Income Tax Rate Reconciliation Tax Cutand Jobs Act2017 Transition Tax
EffectiveIncomeTaxRateReconciliationTaxCutandJobsAct2017TransitionTax
0 USD
CY2020 klic Effective Income Tax Rate Reconciliation Tax Cutand Jobs Act2017 Transition Tax
EffectiveIncomeTaxRateReconciliationTaxCutandJobsAct2017TransitionTax
0 USD
CY2019 klic Effective Income Tax Rate Reconciliation Tax Cutand Jobs Act2017 Transition Tax
EffectiveIncomeTaxRateReconciliationTaxCutandJobsAct2017TransitionTax
9369000 USD
CY2021 klic Effective Income Tax Rate Reconciliation Tax Cutand Jobs Act2017 Deferred Tax Assets
EffectiveIncomeTaxRateReconciliationTaxCutandJobsAct2017DeferredTaxAssets
0 USD
CY2020 klic Effective Income Tax Rate Reconciliation Tax Cutand Jobs Act2017 Deferred Tax Assets
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-145000 USD
CY2019 klic Effective Income Tax Rate Reconciliation Tax Cutand Jobs Act2017 Deferred Tax Assets
EffectiveIncomeTaxRateReconciliationTaxCutandJobsAct2017DeferredTaxAssets
5480000 USD
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-11620000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1224000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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25289000 USD
CY2021 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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52414000 USD
CY2020 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
8886000 USD
CY2019 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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8578000 USD
CY2021 klic Reserve For Uncertain Tax Positions
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-180000 USD
CY2020 klic Reserve For Uncertain Tax Positions
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285000 USD
CY2019 klic Reserve For Uncertain Tax Positions
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156000 USD
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
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113000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
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1232000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2248000 USD
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3168000 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
37000 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-290000 USD
CY2021 us-gaap Income Tax Expense Benefit
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47295000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11998000 USD
CY2019 us-gaap Income Tax Expense Benefit
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22910000 USD
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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0.114
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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0.186
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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0.660
CY2020 klic Cumulative Tax Effects Of Jusrisdictional Adjustments
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3500000 USD
CY2021 klic Tax Incentive Arrangement Income Tax Benefit
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45500000 USD
CY2021 klic Tax Incentive Arrangement Income Tax Provision Benefit Earnings Per Share Impact
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-0.72
CY2020 klic Tax Incentive Arrangement Income Tax Benefit
TaxIncentiveArrangementIncomeTaxBenefit
6800000 USD
CY2020 klic Tax Incentive Arrangement Income Tax Provision Benefit Earnings Per Share Impact
TaxIncentiveArrangementIncomeTaxProvisionBenefitEarningsPerShareImpact
-0.11
CY2019 klic Tax Incentive Arrangement Income Tax Benefit
TaxIncentiveArrangementIncomeTaxBenefit
5000000 USD
CY2019 klic Tax Incentive Arrangement Income Tax Provision Benefit Earnings Per Share Impact
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-0.08
CY2021Q4 klic Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Inventory Reserves
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11890000 USD
CY2020Q4 klic Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Inventory Reserves
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7631000 USD
CY2021Q4 klic Deferred Tax Assets Tax Credit Carryforwards Domestic
DeferredTaxAssetsTaxCreditCarryforwardsDomestic
4230000 USD
CY2020Q4 klic Deferred Tax Assets Tax Credit Carryforwards Domestic
DeferredTaxAssetsTaxCreditCarryforwardsDomestic
6124000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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28913000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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37921000 USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
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45033000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
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51676000 USD
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
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34095000 USD
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
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46561000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
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10938000 USD
CY2020Q4 us-gaap Deferred Tax Assets Net
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5115000 USD
CY2021Q4 klic Deferred Tax Liabilities Repatriation Of Foreign Earnings Including Foreign Withholding Taxes
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28516000 USD
CY2020Q4 klic Deferred Tax Liabilities Repatriation Of Foreign Earnings Including Foreign Withholding Taxes
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25676000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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465000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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4297000 USD
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
28051000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
29973000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
17113000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
24858000 USD
CY2021Q4 us-gaap Deferred Income Tax Assets Net
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15715000 USD
CY2020Q4 us-gaap Deferred Income Tax Assets Net
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8147000 USD
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
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32828000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
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33005000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
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17113000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
24858000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
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72800000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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104400000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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6800000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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13064000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits
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12925000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits
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13038000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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4003000 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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537000 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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410000 USD
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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2145000 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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398000 USD
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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523000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
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14922000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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13064000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits
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12925000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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1700000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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15200000 USD
CY2021 us-gaap Revenues
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1517664000 USD
CY2020 us-gaap Revenues
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623176000 USD
CY2019 us-gaap Revenues
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540052000 USD
CY2021 us-gaap Operating Income Loss
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412447000 USD
CY2020 us-gaap Operating Income Loss
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58509000 USD
CY2019 us-gaap Operating Income Loss
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21610000 USD
CY2021 us-gaap Property Plant And Equipment Additions
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22555000 USD
CY2020 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
14514000 USD
CY2019 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
11829000 USD
CY2021 us-gaap Depreciation
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13836000 USD
CY2020 us-gaap Depreciation
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12368000 USD
CY2019 us-gaap Depreciation
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12892000 USD
CY2021 us-gaap Adjustment For Amortization
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5974000 USD
CY2020 us-gaap Adjustment For Amortization
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7371000 USD
CY2019 us-gaap Adjustment For Amortization
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7412000 USD
CY2021 us-gaap Revenues
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1517664000 USD
CY2020 us-gaap Revenues
Revenues
623176000 USD
CY2019 us-gaap Revenues
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540052000 USD
CY2021Q4 us-gaap Noncurrent Assets
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118324000 USD
CY2020Q4 us-gaap Noncurrent Assets
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91556000 USD
CY2019Q3 us-gaap Noncurrent Assets
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81113000 USD
CY2020Q4 us-gaap Product Warranty Accrual
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9576000 USD
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14185000 USD
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14474000 USD
CY2021 us-gaap Product Warranty Accrual Warranties Issued
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18889000 USD
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
14004000 USD
CY2019 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
12140000 USD
CY2021 klic Change In Warranty Reserve Methodology
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0 USD
CY2020 klic Change In Warranty Reserve Methodology
ChangeInWarrantyReserveMethodology
5417000 USD
CY2019 klic Change In Warranty Reserve Methodology
ChangeInWarrantyReserveMethodology
0 USD
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
11504000 USD
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
13196000 USD
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12429000 USD
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
16961000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9576000 USD
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14185000 USD
CY2021Q4 klic Inventory Purchase Obligation Future Minimum Payments Due
InventoryPurchaseObligationFutureMinimumPaymentsDue
591845000 USD
CY2021Q4 klic Inventory Purchase Obligation Future Minimum Payments Due Current
InventoryPurchaseObligationFutureMinimumPaymentsDueCurrent
591845000 USD
CY2021Q4 klic Inventory Purchase Obligation Future Minimum Payments Due In Two Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInTwoYears
0 USD
CY2021Q4 klic Inventory Purchase Obligation Future Minimum Payments Due In Three Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInThreeYears
0 USD
CY2021Q4 klic Inventory Purchase Obligation Future Minimum Payments Due In Four Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInFourYears
0 USD
CY2021Q4 klic Inventory Purchase Obligation Future Minimum Payments Due Thereafter
InventoryPurchaseObligationFutureMinimumPaymentsDueThereafter
0 USD

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