2021 Q4 Form 10-K Financial Statement

#000095017022001770 Filed on February 23, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $146.2M $553.5M $141.5M
YoY Change 3.32% 29.07% 39.14%
Cost Of Revenue $32.42M $115.0M $29.90M
YoY Change 8.41% 34.53% 41.04%
Gross Profit $113.8M $438.5M $111.6M
YoY Change 2.0% 27.71% 38.46%
Gross Profit Margin 77.84% 79.23% 78.85%
Selling, General & Admin $24.93M $80.37M $18.20M
YoY Change 36.96% 31.01% -12.5%
% of Gross Profit 21.9% 18.33% 16.31%
Research & Development $26.94M $99.67M $22.20M
YoY Change 21.35% 18.81% 12.12%
% of Gross Profit 23.67% 22.73% 19.89%
Depreciation & Amortization $11.00M $20.00M $9.600M
YoY Change 14.59% 31.58% 6.67%
% of Gross Profit 9.66% 4.56% 8.6%
Operating Expenses $57.37M $210.9M $45.90M
YoY Change 24.99% 13.47% -0.22%
Operating Profit $56.46M $227.6M $65.70M
YoY Change -14.06% 44.51% 89.88%
Interest Expense $160.0K $505.0K $700.0K
YoY Change -77.14% -90.1% -72.0%
% of Operating Profit 0.28% 0.22% 1.07%
Other Income/Expense, Net -$80.00K $603.0K $200.0K
YoY Change -140.0% -89.96%
Pretax Income $56.54M $228.2M $66.70M
YoY Change -15.23% 39.58% 80.27%
Income Tax $10.67M $44.03M $12.80M
% Of Pretax Income 18.86% 19.29% 19.19%
Net Earnings $45.88M $184.2M $53.90M
YoY Change -14.89% 38.12% 103.96%
Net Earnings / Revenue 31.37% 33.28% 38.08%
Basic Earnings Per Share $3.87 $1.13
Diluted Earnings Per Share $968.0K $3.87 $1.13
COMMON SHARES
Basic Shares Outstanding 47.13M 47.30M
Diluted Shares Outstanding 47.37M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $663.2M $663.2M $730.0M
YoY Change -9.15% -9.15% 12.99%
Cash & Equivalents $312.0M $312.0M $630.0M
Short-Term Investments $351.2M $351.2M $549.0M
Other Short-Term Assets $20.95M $12.82M $20.75M
YoY Change 0.97% -38.06% -5.47%
Inventory $134.2M $134.2M $91.59M
Prepaid Expenses
Receivables $107.6M $115.8M $82.26M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $925.9M $925.9M $924.6M
YoY Change 0.14% 0.14% 16.68%
LONG-TERM ASSETS
Property, Plant & Equipment $128.8M $159.4M $102.1M
YoY Change 26.17% 43.77% 16.21%
Goodwill $15.54M $15.54M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $168.1M $168.1M $5.000M
YoY Change 3261.52% 3261.52% 0.0%
Other Assets $135.7M $138.5M $103.3M
YoY Change 31.32% 4.72% 20.04%
Total Long-Term Assets $541.0M $541.0M $344.6M
YoY Change 56.98% 56.99% 5.16%
TOTAL ASSETS
Total Short-Term Assets $925.9M $925.9M $924.6M
Total Long-Term Assets $541.0M $541.0M $344.6M
Total Assets $1.467B $1.467B $1.269B
YoY Change 15.58% 15.58% 13.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.96M $14.96M $13.80M
YoY Change 8.36% 8.37% 3.8%
Accrued Expenses $45.47M $48.83M $41.40M
YoY Change 9.83% 12.76% -15.54%
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 $187.9M $187.9M $165.0M
YoY Change 13.93% 13.9% 2.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $76.08M $179.1M $55.94M
YoY Change 36.0% -6.54% 15.21%
Total Long-Term Liabilities $76.08M $179.1M $55.94M
YoY Change 36.0% -6.54% 15.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $187.9M $187.9M $165.0M
Total Long-Term Liabilities $76.08M $179.1M $55.94M
Total Liabilities $367.0M $367.0M $356.5M
YoY Change 2.94% 2.95% 15.49%
SHAREHOLDERS EQUITY
Retained Earnings $500.2M $353.9M
YoY Change 41.33% 42.14%
Common Stock $491.0K $490.0K
YoY Change 0.2% 0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $41.28M $41.28M
YoY Change 0.0% 0.0%
Treasury Stock Shares $1.366M $1.366M
Shareholders Equity $1.100B $1.100B $912.7M
YoY Change
Total Liabilities & Shareholders Equity $1.467B $1.467B $1.269B
YoY Change 15.58% 15.58% 13.31%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $45.88M $184.2M $53.90M
YoY Change -14.89% 38.12% 103.96%
Depreciation, Depletion And Amortization $11.00M $20.00M $9.600M
YoY Change 14.59% 31.58% 6.67%
Cash From Operating Activities $56.78M $191.1M $73.00M
YoY Change -22.22% 28.44% 29.89%
INVESTING ACTIVITIES
Capital Expenditures -$13.67M $43.16M -$8.900M
YoY Change 53.54% 54.2% 85.42%
Acquisitions
YoY Change
Other Investing Activities -$257.1M -$414.2M $410.1M
YoY Change -162.69% -198.78% -371.95%
Cash From Investing Activities -$270.8M -$457.8M $401.4M
YoY Change -167.45% -217.0% -358.14%
FINANCING ACTIVITIES
Cash Dividend Paid $37.93M
YoY Change 33.35%
Common Stock Issuance & Retirement, Net -$1.507M
YoY Change 28.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.182M -51.37M -6.900M
YoY Change 33.07% 23.31% 53.33%
NET CHANGE
Cash From Operating Activities 56.78M 191.1M 73.00M
Cash From Investing Activities -270.8M -457.8M 401.4M
Cash From Financing Activities -9.182M -51.37M -6.900M
Net Change In Cash -223.2M -318.0M 467.5M
YoY Change -147.74% -163.81% -550.39%
FREE CASH FLOW
Cash From Operating Activities $56.78M $191.1M $73.00M
Capital Expenditures -$13.67M $43.16M -$8.900M
Free Cash Flow $70.44M $147.9M $81.90M
YoY Change -13.99% 22.47% 34.26%

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<div style="display:flex;margin-top:12.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.537%;">1.</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">BUSINESS:</span></div></div><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.0925;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Universal Display Corporation and its subsidiaries (the Company) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLEDs are thin, lightweight and power-efficient solid-state devices that emit light that can be manufactured on both flexible and rigid substrates, making them highly suitable for use in full-color displays and as lighting products. OLED displays are capturing a growing share of the display market, especially in the mobile phone, television, wearable, tablet, notebook and personal computer, augmented reality (AR), virtual reality (VR) and automotive markets. The Company believes this is because OLEDs offer potential advantages over competing display technologies with respect to power efficiency, contrast ratio, viewing angle, video response time, form factor and manufacturing cost. The Company also believes that OLED lighting products have the potential to replace many existing light sources in the future because of their high-power efficiency, excellent color rendering index, low operating temperature and novel form factor. The Company’s technology leadership, intellectual property position, and the Company’s more than 20 years of experience working closely with leading OLED display manufacturers are some of the competitive advantages that should enable the Company to continue to share in the revenues from OLED displays and lighting products as they gain wider acceptance.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.0925;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company’s primary business strategy is to (1) develop new OLED materials and sell existing and new materials to product manufacturers of products for display applications, such as mobile phones, televisions, wearables, tablets, portable media devices, notebook computers, personal computers and automotive applications, and specialty and general lighting products; and (2) further develop and either license or otherwise commercialize the Company’s proprietary OLED material, device design and manufacturing technologies to those manufacturers. The Company has established a significant portfolio of proprietary OLED technologies and materials, primarily through internal research and development efforts and acquisitions of patents and patent applications, as well as maintaining long-standing, and establishing new relationships with world-class universities, research institutions and strategic manufacturing partnerships. The Company currently owns, exclusively licenses or has the sole right to sublicense more than </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">5,500</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> patents issued and pending worldwide.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.0925;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company manufactures and sells its proprietary OLED materials to customers for evaluation and use in commercial OLED products. The Company also enters into agreements with manufacturers of OLED display and lighting products under which it grants them licenses to practice under the Company’s patents and to use the Company's proprietary know-how. At the same time, the Company works with these and other companies that are evaluating the Company's OLED material, device design and manufacturing technologies for possible use in commercial OLED display and lighting products.</span></p>
CY2021Q4 oled Number Of Patents Issued And Pending Application
NumberOfPatentsIssuedAndPendingApplication
5500
CY2021Q4 oled Minority Investment Carrying Value
MinorityInvestmentCarryingValue
8500000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
311993000
CY2021Q4 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
0
CY2021Q4 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
0
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
311993000
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
630010000
CY2020Q4 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
6000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Management’s Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The estimates made are principally in the areas of revenue recognition including estimates of material unit sales and royalties, the useful life of acquired intangibles, lease liabilities, right-of-use assets, the use and recoverability of inventories, intangibles, investments and income taxes including realization of deferred tax assets, stock-based compensation and retirement benefit plan liabilities. Actual results could differ from those estimates.</span></p>
CY2020 oled Cash And Cash Equivalents Maturity Period
CashAndCashEquivalentsMaturityPeriod
three months or less
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
279000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
139000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
84000
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q4 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
-4000
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
630012000
CY2021Q4 oled Number Of Minority Investments
NumberOfMinorityInvestments
2
CY2021Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2020Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
75227000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
46843000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16065000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9904000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
42868000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
34844000
CY2021Q4 us-gaap Inventory Net
InventoryNet
134160000
CY2020Q4 us-gaap Inventory Net
InventoryNet
91591000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
3600000
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
1100000
CY2019 us-gaap Inventory Write Down
InventoryWriteDown
5900000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
221293000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174606000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
92461000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
72493000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
128832000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
102113000
CY2021 us-gaap Depreciation
Depreciation
20000000.0
CY2020 us-gaap Depreciation
Depreciation
15200000
CY2019 us-gaap Depreciation
Depreciation
12500000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
223303000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
223303000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
173635000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
153050000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49668000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
70253000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
15800000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9700000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9600000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9600000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4800000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
200000
CY2020Q4 us-gaap Other Assets
OtherAssets
103341000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26174000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1948000
CY2021Q4 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
103260000
CY2020Q4 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
90208000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30614000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8750000
CY2021Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
1836000
CY2020Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
4383000
CY2021Q4 us-gaap Other Assets
OtherAssets
135710000
CY2021 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
Current lease agreements do not contain any residual value guarantees or material restrictive covenants. As of December 31, 2021, the Company did not have any finance leases and no additional operating leases that have not yet commenced.
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
3637000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
2091000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
1855000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9776000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
30614000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30614000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8750000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3351000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1871000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
27263000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6879000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y7M6D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q4 oled Accrued Research And Development Agreement Fees
AccruedResearchAndDevelopmentAgreementFees
1469000
CY2020Q4 oled Accrued Research And Development Agreement Fees
AccruedResearchAndDevelopmentAgreementFees
627000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4098000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4018000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3966000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4008000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4021000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
14222000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
34333000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3719000
CY2020Q4 oled Accrued Ppg Agreements
AccruedPpgAgreements
4402000
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
27686000
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
22147000
CY2021Q4 oled Accrued Ppg Agreements
AccruedPpgAgreements
8853000
CY2021Q4 oled Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
1314000
CY2020Q4 oled Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
771000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1000000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
908000
CY2021Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
691000
CY2020Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
11125000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4461000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1424000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
45474000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
41404000
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ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2548000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-763000
CY2021 oled Number Of Board Members Elected By Class Shareholders
NumberOfBoardMembersElectedByClassShareholders
2
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49065924
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47700276
CY2021 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
27263000
CY2020 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.80
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
37900
CY2020 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-21578000
CY2020 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2556000
CY2021Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
47791000
CY2020Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
48870000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6879000
CY2021Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
1023000
CY2020Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
192000
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
76077000
CY2020Q4 us-gaap Other Liabilities
OtherLiabilities
55941000
CY2021Q4 oled Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
0.50
CY2021 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2020 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2019 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-3311000
CY2021 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
14956000
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19022000
CY2020Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
78527000
CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
13348000
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DefinedBenefitPlanNetPeriodicBenefitCostCreditIncreaseDecreaseForPlanAmendment
-283000
CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-4719000
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
17784000
CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-4700000
CY2020 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-2600000
CY2019 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-2500000
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
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0.90
CY2021 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03
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1300000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1100000
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
880000
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
78527000
CY2019Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
51117000
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DefinedBenefitPlanServiceCost
1675000
CY2020 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1092000
CY2021 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1165000
CY2020 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1285000
CY2020 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-25033000
CY2021 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
362000
CY2020 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
0
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
66773000
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
78527000
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2021Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
66773000
CY2020Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
78527000
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0
CY2020Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
0
CY2021Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
66773000
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5462000
CY2021Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
5462000
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0.0216
CY2020Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0154
CY2021Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
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0.0350
CY2020Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.0350
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
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0.0154
CY2020 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0264
CY2019 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0382
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0350
CY2020 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0350
CY2019 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0350
CY2021Q4 us-gaap Defined Benefit Plan Expected Amortization Of Prior Service Cost Credit Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfPriorServiceCostCreditNextFiscalYear
1119000
CY2021Q4 us-gaap Defined Benefit Plan Expected Amortization Of Gain Loss Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfGainLossNextFiscalYear
-1487000
CY2021Q4 us-gaap Defined Benefit Plan Expected Amortization Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationNextFiscalYear
2606000
CY2021Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
0
CY2021Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
5462000
CY2021Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
6709000
CY2021Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
37528000
CY2021Q4 oled Defined Benefit Plans Expected Future Benefit Payments After Five Fiscal Years Thereafter
DefinedBenefitPlansExpectedFutureBenefitPaymentsAfterFiveFiscalYearsThereafter
22217000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
228247000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
53629000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
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