$OLED
UNIVERSAL DISPLAY CORP \PA\

2024 Q1 Form 10-K Financial Statement

#000095017024018765 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $165.3M $158.3M $576.4M
YoY Change 26.67% -6.34% -6.52%
Cost Of Revenue $36.97M $36.25M $135.4M
YoY Change 12.13% 19.33% 5.85%
Gross Profit $128.3M $122.1M $441.1M
YoY Change 31.58% -11.96% -9.75%
Gross Profit Margin 77.63% 77.1% 76.51%
Selling, General & Admin $19.25M $19.13M $67.39M
YoY Change 25.05% -7.88% -13.48%
% of Gross Profit 15.01% 15.67% 15.28%
Research & Development $37.99M $33.64M $130.5M
YoY Change 20.88% 5.44% 11.46%
% of Gross Profit 29.61% 27.56% 29.58%
Depreciation & Amortization $6.600M $11.90M $27.40M
YoY Change 1.54% 22.32% 10.48%
% of Gross Profit 5.14% 9.75% 6.21%
Operating Expenses $65.42M $57.32M $223.9M
YoY Change 25.49% 3.15% 1.02%
Operating Profit $62.87M $64.75M $217.2M
YoY Change 38.58% -22.07% -18.69%
Interest Expense $9.568M $7.865M $28.17M
YoY Change 37.33% 124.39% 260.59%
% of Operating Profit 15.22% 12.15% 12.97%
Other Income/Expense, Net $7.625M $2.996M $27.98M
YoY Change 21.73% -150.42% 2398.39%
Pretax Income $70.50M $75.61M $245.2M
YoY Change 36.54% -6.25% -8.6%
Income Tax $13.60M $13.63M $42.16M
% Of Pretax Income 19.29% 18.03% 17.2%
Net Earnings $56.85M $61.69M $203.0M
YoY Change 42.71% -4.75% -3.36%
Net Earnings / Revenue 34.4% 38.97% 35.22%
Basic Earnings Per Share $1.19 $4.25
Diluted Earnings Per Share $1.19 $1.29 $4.24
COMMON SHARES
Basic Shares Outstanding 47.37M 47.36M 47.56M
Diluted Shares Outstanding 47.63M 47.62M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $539.3M $514.1M $514.1M
YoY Change -16.53% -11.02% -11.02%
Cash & Equivalents $74.01M $91.99M $91.99M
Short-Term Investments $465.3M $422.1M $422.1M
Other Short-Term Assets $89.48M $87.37M $45.23M
YoY Change 140.58% 90.79% 516.73%
Inventory $172.9M $175.8M $175.8M
Prepaid Expenses
Receivables $119.6M $139.9M $182.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $921.3M $917.1M $917.1M
YoY Change -3.05% 1.97% 1.97%
LONG-TERM ASSETS
Property, Plant & Equipment $175.9M $175.2M $200.1M
YoY Change 21.07% 22.1% 14.37%
Goodwill $15.54M $15.54M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $312.9M $299.5M $299.5M
YoY Change 46.67% 15.27% 15.27%
Other Assets $102.4M $105.3M $139.5M
YoY Change -1.77% -4.06% 2.25%
Total Long-Term Assets $762.4M $751.8M $751.8M
YoY Change 30.22% 18.7% 18.7%
TOTAL ASSETS
Total Short-Term Assets $921.3M $917.1M $917.1M
Total Long-Term Assets $762.4M $751.8M $751.8M
Total Assets $1.684B $1.669B $1.669B
YoY Change 9.64% 8.88% 8.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.84M $10.93M $10.93M
YoY Change 31.82% 14.85% 14.85%
Accrued Expenses $42.10M $52.08M $55.61M
YoY Change 66.1% 2.11% 1.6%
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 $94.98M $118.8M $118.8M
YoY Change -17.38% -12.44% -12.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $37.98M $38.66M $102.9M
YoY Change -12.09% -11.51% -15.47%
Total Long-Term Liabilities $37.98M $38.66M $102.9M
YoY Change -12.09% -11.51% -15.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.98M $118.8M $118.8M
Total Long-Term Liabilities $37.98M $38.66M $102.9M
Total Liabilities $198.8M $221.7M $221.7M
YoY Change -15.84% -13.87% -13.87%
SHAREHOLDERS EQUITY
Retained Earnings $826.9M $789.6M
YoY Change 22.26% 20.86%
Common Stock $488.0K $487.0K
YoY Change 0.21% -0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost) $41.28M $41.28M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $1.485B $1.447B $1.447B
YoY Change
Total Liabilities & Shareholders Equity $1.684B $1.669B $1.669B
YoY Change 9.64% 8.88% 8.88%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $56.85M $61.69M $203.0M
YoY Change 42.71% -4.75% -3.36%
Depreciation, Depletion And Amortization $6.600M $11.90M $27.40M
YoY Change 1.54% 22.32% 10.48%
Cash From Operating Activities $72.16M $37.08M $154.8M
YoY Change 51.52% 1303.9% 22.05%
INVESTING ACTIVITIES
Capital Expenditures $7.206M $7.555M $59.79M
YoY Change -20.8% -33.3% 40.7%
Acquisitions
YoY Change
Other Investing Activities -$56.98M -$338.0K $43.06M
YoY Change -214.36% -99.53% -118.44%
Cash From Investing Activities -$64.18M -$7.893M -$83.29M
YoY Change -257.79% -90.49% -70.33%
FINANCING ACTIVITIES
Cash Dividend Paid $19.53M $66.74M
YoY Change 16.45% 17.09%
Common Stock Issuance & Retirement, Net $2.012M
YoY Change 28.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.95M -16.53M -72.93M
YoY Change 10.73% 18.13% 12.83%
NET CHANGE
Cash From Operating Activities 72.16M 37.08M 154.8M
Cash From Investing Activities -64.18M -7.893M -83.29M
Cash From Financing Activities -25.95M -16.53M -72.93M
Net Change In Cash -17.97M 12.65M -1.445M
YoY Change -127.71% -113.42% -99.34%
FREE CASH FLOW
Cash From Operating Activities $72.16M $37.08M $154.8M
Capital Expenditures $7.206M $7.555M $59.79M
Free Cash Flow $64.95M $29.52M $94.99M
YoY Change 68.6% -439.92% 12.65%

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CY2022 oled Other Comprehensive Income Plan Amendment Cost
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CY2021 oled Other Comprehensive Income Plan Amendment Cost
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CY2022 oled Other Comprehensive Income Plan Amendment Cost Net Of Tax
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CY2023 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
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CY2022 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
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CY2021 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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CY2022 oled Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
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CY2021 us-gaap Increase Decrease In Other Current Liabilities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023 oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
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CY2022 oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
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CY2021 us-gaap Income Taxes Paid Net
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CY2023 us-gaap Nature Of Operations
NatureOfOperations
<div style="display:flex;margin-top:12pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:4.537%;display:inline-flex;justify-content:flex-start;">1.</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">BUSINESS:</span></div></div><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 and 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, monitor, 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 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:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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, monitors, 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:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">6,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> patents issued and pending worldwide.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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>
CY2023Q4 oled Number Of Patents Issued And Pending Application
NumberOfPatentsIssuedAndPendingApplication
6000
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassification of Prior Year Presentation</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior year adjustments to reconcile net income to net cash provided by operating activities have been reclassified on the Consolidated Statements of Cash Flows to conform to the current year presentation. These adjustments have been consolidated into their respective operating assets and liabilities accounts, specifically, inventory, other current assets, other assets and deferred revenue.</span></p>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Management’s Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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>
CY2023 oled Cash And Cash Equivalents Maturity Period
CashAndCashEquivalentsMaturityPeriod
three months or less
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
166000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
279000
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
Recognized income tax positions are measured at the largest amount of which the likelihood of realization is greater than 50%
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
91985000
CY2023Q4 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
0
CY2023Q4 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
0
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
91985000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
93430000
CY2022Q4 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
0
CY2022Q4 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
0
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
93430000
CY2023Q4 oled Minority Investment Carrying Value
MinorityInvestmentCarryingValue
14000000
CY2021Q4 oled Number Of Minority Investments
NumberOfMinorityInvestments
4
CY2022Q4 oled Minority Investment Carrying Value
MinorityInvestmentCarryingValue
12000000
CY2022Q4 oled Number Of Convertible Note Investments
NumberOfConvertibleNoteInvestments
2
CY2022 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
3000000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4000000
CY2023Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2022Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9433000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7626000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
52962000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
113400000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
115448000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
60146000
CY2023Q4 us-gaap Inventory Net
InventoryNet
175795000
CY2022Q4 us-gaap Inventory Net
InventoryNet
183220000
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
8500000
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
3600000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
3600000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
319058000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
260563000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
143908000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
117118000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
175150000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
143445000
CY2023 us-gaap Depreciation
Depreciation
27400000
CY2022 us-gaap Depreciation
Depreciation
24800000
CY2021 us-gaap Depreciation
Depreciation
20000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
277175000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
228053000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
186850000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
189671000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
90325000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38382000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16800000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16800000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16800000
CY2026Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
12000000
CY2027Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7.2
CY2028Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7.2
CY2029Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
30300000
CY2023Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
16800000
CY2023Q4 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
60146000
CY2022Q4 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
63915000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24910000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
31486000
CY2023Q4 oled Long Term Unbilled Receivables
LongTermUnbilledReceivables
9074000
CY2022Q4 oled Long Term Unbilled Receivables
LongTermUnbilledReceivables
0
CY2023Q4 oled Long Term Contract Assets
LongTermContractAssets
9278000
CY2022Q4 oled Long Term Contract Assets
LongTermContractAssets
11651000
CY2023Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
1881000
CY2022Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
2687000
CY2023Q4 us-gaap Other Assets
OtherAssets
105289000
CY2022Q4 us-gaap Other Assets
OtherAssets
109739000
CY2023 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
As of December 31, 2023, the Company did not have any finance leases and no additional operating leases that have not yet commenced.
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
4639000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
4436000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
3637000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1072000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4750000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26174000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24910000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
31486000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3533000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3737000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
22855000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
29039000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.037
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4267000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4321000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4401000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4323000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3996000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8083000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
29391000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3003000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
26388000
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
29456000
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
31751000
CY2023Q4 oled Accrued Ppg Agreements
AccruedPpgAgreements
11962000
CY2022Q4 oled Accrued Ppg Agreements
AccruedPpgAgreements
9864000
CY2023Q4 oled Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
2121000
CY2022Q4 oled Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
910000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1124000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
906000
CY2023Q4 oled Accrued Research And Development Agreement Fees
AccruedResearchAndDevelopmentAgreementFees
822000
CY2022Q4 oled Accrued Research And Development Agreement Fees
AccruedResearchAndDevelopmentAgreementFees
662000
CY2023Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
647000
CY2022Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
877000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5948000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6032000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
52080000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
51002000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
22855000
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
29039000
CY2023Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
15749000
CY2022Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
14592000
CY2023Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
54000
CY2022Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
54000
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
38658000
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
43685000
CY2023Q4 oled Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
0.50
CY2023 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2023 oled Research And Development Expense Credit
ResearchAndDevelopmentExpenseCredit
9100000
CY2022 oled Research And Development Expense Credit
ResearchAndDevelopmentExpenseCredit
7300000
CY2021 oled Research And Development Expense Credit
ResearchAndDevelopmentExpenseCredit
3600000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023 oled Number Of Board Members Elected By Class Shareholders
NumberOfBoardMembersElectedByClassShareholders
2
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
48731026
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47365378
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.4
CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
66700000
CY2023 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1000000
CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2000000
CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-4700000
CY2023 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.90
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1500000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1400000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1300000
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
61804000
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
66773000
CY2023 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
951000
CY2022 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1287000
CY2023 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2898000
CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1383000
CY2023 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
9375000
CY2023Q4 us-gaap Defined Benefit Plan Expected Amortization Of Prior Service Cost Credit Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfPriorServiceCostCreditNextFiscalYear
43000
CY2023Q4 us-gaap Defined Benefit Plan Expected Amortization Of Gain Loss Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfGainLossNextFiscalYear
-0
CY2023Q4 us-gaap Defined Benefit Plan Expected Amortization Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationNextFiscalYear
43000
CY2022 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
7639000
CY2023 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
-2015000
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0
CY2023Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
54263000
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
61804000
CY2023Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2023Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
54263000
CY2022Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
61804000
CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
2014000
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
2014000
CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
52249000
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
59790000
CY2023Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0474
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0494
CY2023Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.035
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.035
CY2023 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0494
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0216
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0154
CY2023 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.035
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable