Analysis of Geographic Areas
Applied Materials Inc. operates in 7 regions: United States; China; Korea; Taiwan; Japan; Europe; and Southeast Asia.
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Area Asset Turnover
Applied Materials Inc., asset turnover by geographic area
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| China | ||||||
| Korea | ||||||
| Taiwan | ||||||
| Japan | ||||||
| Europe | ||||||
| Southeast Asia |
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
Analysis of the annual geographic area asset turnover ratios reveals distinct trends and variations across the regions over the period from 2019 to 2024.
- United States
- The asset turnover ratio fluctuated moderately, starting at 1.22 in 2019, declining to its lowest point of 0.99 in 2020, then experiencing a gradual increase to a peak of 1.24 in 2023 before dipping again to 1.02 in 2024. This indicates a relatively stable but slightly volatile asset utilization in this region.
- China
- The ratio exhibited a dramatic and consistent upward trend, increasing from 213.85 in 2019 to an exceptionally high 3372.33 in 2024. The sharp escalation from 1811.75 in 2023 to 3372.33 in 2024 suggests rapid improvements or changes in asset efficiency or a possible change in measurement scale or underlying activity in this region.
- Korea
- Korea showed strong growth in asset turnover, starting at 80.38 in 2019 and rising steadily to 499.22 in 2024. The increase was most prominent between 2019 and 2021, with a continued moderate rise thereafter, reflecting enhanced asset utilization or operational improvements over the years.
- Taiwan
- The ratio increased from 52.95 in 2019 to a peak of 101 in 2022, followed by a decline to 67.97 in 2024. This pattern suggests a period of improved asset turnover until 2022, after which there was a noticeable downturn, indicating possible challenges in asset efficiency in recent years.
- Japan
- Japan's asset turnover ratio generally trended upward, beginning at 137.38 in 2019 and reaching 307.71 in 2024. The growth was fairly steady, with a notable jump between 2020 and 2021, which may reflect strategic enhancements in asset management or market conditions.
- Europe
- Europe exhibited a volatile and declining trend overall. The ratio increased from 29.29 in 2019 to 91.42 in 2021 but then sharply decreased to 12.77 by 2024. This suggests instability and diminishing asset utilization effectiveness in this region over the analyzed period.
- Southeast Asia
- The asset turnover ratio in Southeast Asia progressed from 23.83 in 2019 to 228.2 in 2024. Despite a slight decrease between 2022 and 2023, the overall trend is strongly upward, indicating marked improvements in asset turnover and operational performance in this region.
Area Asset Turnover: United States
Applied Materials Inc.; United States; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
- Net Revenue
- The net revenue exhibit a fluctuating trend over the analyzed period. Starting at 1,871 million USD in 2019, revenue decreased to 1,619 million USD in 2020, which could indicate some challenges or market conditions impacting sales. However, from 2020 onwards, there was a strong recovery and growth, rising to 2,038 million USD in 2021, followed by a significant increase to 3,104 million USD in 2022 and peaking at 4,006 million USD in 2023. The most recent data in 2024 shows a slight decline to 3,818 million USD, suggesting a possible moderation in growth or market saturation after several years of expansion.
- Long-lived Assets
- The value of long-lived assets demonstrates a consistent upward trajectory throughout the period. Beginning at 1,539 million USD in 2019, assets steadily increased year over year to reach 3,759 million USD in 2024. This near continuous rise suggests ongoing investment in fixed assets or property, plant, and equipment, likely supporting operational expansion or capacity enhancement.
- Area Asset Turnover
- Area asset turnover ratio reflects the efficiency in utilizing assets to generate revenue within this geographic area. The ratio began at 1.22 in 2019 but declined to 0.99 in 2020, mirroring the drop in revenue seen in the same period. Subsequently, the turnover showed a moderate improvement, rising to 1.04 in 2021 and further increasing to 1.24 in 2023. However, by 2024, the ratio decreased again to 1.02. This fluctuation indicates variability in asset utilization effectiveness; periods of growth in asset turnover correspond with revenue increases, while declines may reflect the lag effect of asset investments or operational efficiency challenges.
- Overall Insights
- The data suggests a strategic focus on asset growth accompanied by attempts to enhance revenue generation capacity. Despite some volatility in revenue and asset turnover, the general pattern is one of expansion, with long-term asset buildup signaling commitment to growth in the United States market. The variations in asset turnover imply that while asset investments are substantial, the efficiency of those assets in producing revenue has not been consistently stable, indicating potential areas for operational improvement.
Area Asset Turnover: China
Applied Materials Inc.; China; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
- Net Revenue
- Net revenue in the China geographic area exhibited a consistent upward trend over the analyzed period. Starting at $4,277 million in 2019, revenue increased significantly to $10,117 million by 2024, more than doubling within five years. The most pronounced growth occurred between 2023 and 2024, with an increase of approximately 39.7%. Slight fluctuations were observed in 2022 and 2023, where revenue slightly decreased from $7,535 million in 2021 to $7,254 million in 2022 and remained nearly flat at $7,247 million in 2023 before the strong leap in 2024.
- Long-Lived Assets
- The long-lived assets allocated to this region demonstrated a steady decline throughout the period. Starting from $20 million in 2019, there was a consistent decrease each year, reaching only $3 million by 2024. This represents an 85% reduction over the six-year span, indicating a significant reduction in the fixed asset base within the area.
- Area Asset Turnover Ratio
- The area asset turnover ratio exhibited a remarkable upward trajectory, reflecting increased efficiency in utilizing assets to generate revenue. From 213.85 in 2019, the ratio surged annually to reach an exceptional 3,372.33 in 2024. This progressive growth signifies a dramatic improvement in revenue generated per unit of asset, correlating with both the decline in long-lived assets and the rise in net revenue. The accelerative increase in asset turnover suggests strategic optimization or disposals of assets alongside robust revenue growth.
- Summary
- The overall trends indicate a strategic shift in asset management combined with robust revenue growth in the China geographical area. The steady decline in long-lived assets paired with substantial increases in net revenue and asset turnover ratio suggests improved operational efficiency and asset utilization. This pattern may reflect increased reliance on intangible assets, outsourcing, or other operational changes reducing capital intensity. The notable revenue expansion in 2024 coupled with a further reduced asset base highlights a successful scaling of operations within this region.
Area Asset Turnover: Korea
Applied Materials Inc.; Korea; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
The data for the Korea geographic area over the six-year period presents several notable trends in net revenue, long-lived assets, and area asset turnover ratios.
- Net Revenue
- Net revenue demonstrates a generally increasing trend from 2019 to 2024, with a significant surge between 2019 and 2021. Starting at 1,929 million US dollars in 2019, revenue nearly doubled to 3,031 million in 2020 and then increased sharply to 5,012 million in 2021. Following this peak, revenue declines modestly in 2022 to 4,395 million, before experiencing slight growth in 2023 to 4,609 million. In 2024, revenue shows a minor decrease to 4,493 million. Overall, despite some fluctuations after 2021, net revenue levels remain substantially higher than in 2019.
- Long-lived Assets
- Long-lived assets exhibit a consistent downward trend throughout the period. Beginning at 24 million US dollars in 2019, the asset base steadily decreases year over year, reaching only 9 million by 2024. This decline suggests reduced investment in or disposal of long-term assets in this geographic area over the analyzed period.
- Area Asset Turnover
- The area asset turnover ratio shows a pronounced upward trajectory. Starting at 80.38 in 2019, the ratio nearly doubles in 2020 to 144.33 and then more than doubles again to 313.25 in 2021. It remains relatively stable in 2022 at 313.93 before accelerating further to 419.00 in 2023 and reaching 499.22 in 2024. The increasing ratio indicates enhanced efficiency in generating revenue from assets in this region, reflecting either improved operational performance or the impact of the declining asset base combined with robust revenue.
In summary, the financial indicators for the Korea segment reveal strong revenue growth up to 2021 with a slight decline afterward, accompanied by a steady reduction in long-lived assets. The rising area asset turnover ratio underscores increasing operational efficiency or asset utilization over the six-year period.
Area Asset Turnover: Taiwan
Applied Materials Inc.; Taiwan; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
- Net Revenue
- The net revenue from the Taiwan geographic area demonstrated a general increasing trend from fiscal year 2019 through 2022, rising from 2,965 million US dollars to a peak of 6,262 million US dollars. This represents more than a twofold increase over this period. However, in the subsequent years, 2023 and 2024, net revenue experienced a notable decline, dropping to 5,670 million US dollars in 2023 and further to 4,010 million US dollars in 2024. Despite this decrease, the revenue in 2024 still remains higher than the levels observed in 2019 and 2020.
- Long-lived Assets
- The value of long-lived assets in the Taiwan area remained relatively stable over the entire period analyzed. Starting at 56 million US dollars in 2019, the assets increased slightly to 62 million US dollars by 2021 and 2022, and then marginally decreased back to 59 million US dollars in both 2023 and 2024. This indicates that the company's investment in long-term assets in this region did not undergo significant fluctuations during the period.
- Area Asset Turnover Ratio
- The area asset turnover ratio showed an upward trend from 2019, increasing from 52.95 to a peak of 101 in 2022. This suggests a rising efficiency in generating revenue from assets in the Taiwan area during this timeframe. After 2022, the ratio declined, reaching 96.1 in 2023 and decreasing further to 67.97 in 2024. Although the ratio diminished in the last two years, the 2024 figure still exceeds the turnovers recorded in 2019 and 2020, implying a still relatively efficient use of assets compared to the earlier years.
Area Asset Turnover: Japan
Applied Materials Inc.; Japan; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
- Net revenue
- The net revenue shows a fluctuating pattern over the observed periods. It decreased from 2198 million USD in 2019 to 1996 million USD in 2020, and further slightly declined to 1962 million USD in 2021. Subsequently, net revenue started recovering with increases in 2022, 2023, and 2024, reaching 2154 million USD, close to the initial 2019 level. This indicates a temporary reduction followed by a gradual recovery in net sales within the geographic area.
- Long-lived assets
- The value of long-lived assets declined sharply from 16 million USD in 2019 and 2020 to 9 million USD in 2021, and further down to 7 million USD from 2022 onward, maintaining this level through 2024. This significant reduction suggests divestment or depreciation leading to a lower asset base over the period.
- Area asset turnover
- Area asset turnover ratio experienced a notable upward trend through the years. Starting at 137.38 in 2019, it decreased slightly in 2020 to 124.75, but then surged impressively to 218 in 2021. The ratio continued increasing substantially in subsequent years, reaching 307.71 by 2024. This reflects an improving efficiency in utilizing assets to generate revenue, likely connected to the reduction in long-lived assets combined with relatively stable revenues.
Area Asset Turnover: Europe
Applied Materials Inc.; Europe; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
The analysis of the Europe geographic area data over the six-year period reveals several notable trends across net revenue, long-lived assets, and area asset turnover.
- Net Revenue
- Net revenue exhibited significant growth from 2019 to 2023, increasing from US$820 million in 2019 to a peak of US$2,152 million in 2023. This represents a substantial upward trajectory, more than doubling over this period. However, in the most recent fiscal year ending 2024, net revenue declined notably to US$1,443 million, suggesting a potential slowdown or market adjustment after the previous growth phase.
- Long-Lived Assets
- The value of long-lived assets showed a fluctuating pattern with a marked increase in recent years. Starting at US$28 million in 2019, there was a decline to US$12 million by 2021, followed by a sharp rise to US$110 million in 2023, and a slight increase to US$113 million in 2024. This pattern indicates a period of reduced asset holdings or perhaps asset disposals, succeeded by a significant reinvestment or acquisition phase that bolstered the asset base.
- Area Asset Turnover
- Area asset turnover, which measures revenue generated per unit of assets, was highly volatile. An initial increase from 29.29 in 2019 to a peak of 91.42 in 2021 was observed, indicating very efficient use of assets during this time. Following this peak, area asset turnover declined sharply to 12.77 by 2024. This drop aligns with the rise in long-lived assets, suggesting that the increase in asset base outpaced revenue growth in recent years, thereby reducing turnover efficiency.
In summary, the Europe geographic area experienced strong revenue growth through 2023, supported by an increasing investment in long-lived assets starting in 2022. The initial improvement in asset turnover efficiency peaked in 2021 but subsequently declined as asset growth outstripped revenue expansion, raising considerations about asset utilization effectiveness moving forward. The revenue decline in 2024 also signals potential challenges in maintaining prior growth momentum.
Area Asset Turnover: Southeast Asia
Applied Materials Inc.; Southeast Asia; area asset turnover calculation
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenue | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
1 2024 Calculation
Area asset turnover = Net revenue ÷ Long-lived assets
= ÷ =
- Net Revenue
- Net revenue for the geographic area exhibits notable fluctuations over the examined periods. Starting from 548 million USD in 2019, there is a decline to 411 million USD in 2020, followed by an increase to 677 million USD in 2021. A significant surge occurs in 2022, reaching 1,084 million USD. This is followed by a decrease to 758 million USD in 2023 and another substantial rise to 1,141 million USD in 2024. Overall, the net revenue trend shows volatility with marked peaks in 2022 and 2024.
- Long-lived Assets
- The value of long-lived assets demonstrates a consistent downward trend throughout the periods. Beginning at 23 million USD in 2019, this figure gradually decreases each year, reaching a low of 5 million USD by 2024. The decline suggests a reduction in fixed or long-term asset holdings in this geographic area over time.
- Area Asset Turnover
- The area asset turnover ratio shows a significant upward trajectory across the analyzed years. Initially, the ratio slightly declines from 23.83 in 2019 to 22.83 in 2020. Subsequently, it experiences a sharp increase to 52.08 in 2021, then more than doubles to 135.5 in 2022. After a slight decrease to 126.33 in 2023, it reaches its highest point at 228.2 in 2024. This trend indicates increasingly efficient use of assets to generate revenue within the area.
- Summary Insight
- The data reflect an overall strategy or condition where asset base is steadily reduced while revenue generation shows strong growth with significant volatility. The pronounced increase in asset turnover ratio suggests improved operational efficiency or greater intensity of asset utilization. The divergence between declining long-lived assets and rising net revenue indicates possible shifts in asset management, such as greater reliance on intangible assets, outsourcing, or more efficient deployment of physical resources.
Net revenue
Applied Materials Inc., net revenue by geographic area
US$ in millions
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| China | ||||||
| Korea | ||||||
| Taiwan | ||||||
| Japan | ||||||
| Europe | ||||||
| Southeast Asia | ||||||
| Outside United States | ||||||
| Consolidated total |
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
The analysis of the geographic area net revenue data over the six annual periods reveals distinct trends and patterns across different regions.
- United States
- The United States shows a notable increase in net revenue from 2019 to 2023, rising from 1,871 million USD to a peak of 4,006 million USD. In 2024, there is a slight decline to 3,818 million USD, but the revenue remains well above the initial value, demonstrating strong growth with a minor recent contraction.
- China
- China exhibits robust growth overall, starting at 4,277 million USD in 2019 and reaching 10,117 million USD in 2024. Although there is a decrease from 7,535 million USD in 2021 to 7,247 million USD in 2023, the revenue rebounds sharply in 2024, indicating a strong upward trajectory and substantial market expansion.
- Korea
- Korea shows significant growth from 1,929 million USD in 2019 to a peak of 5,012 million USD in 2021, followed by a mild decline and stabilization with revenues around 4,400 to 4,600 million USD in the subsequent years. Despite the slight decrease, Korea remains a major contributor to revenue.
- Taiwan
- Taiwan's revenue rises steadily from 2,965 million USD in 2019 to a peak of 6,262 million USD in 2022. However, the revenue then falls sharply to 4,010 million USD by 2024, indicating volatility and potential challenges impacting the region in recent years.
- Japan
- Japan's revenue is relatively stable across the periods, fluctuating slightly between 1,962 million USD and 2,198 million USD without significant upward or downward trends, suggesting a mature and consistent market presence.
- Europe
- Europe experiences substantial growth from 820 million USD in 2019 to 2,152 million USD in 2023, followed by a decline to 1,443 million USD in 2024. This pattern indicates rapid expansion followed by a notable contraction in the most recent year.
- Southeast Asia
- Southeast Asia demonstrates variability with an initial decline from 548 million USD in 2019 to 411 million USD in 2020, then a recovery and growth peak at 1,084 million USD in 2022. The revenue dips again in 2023 but rebounds to 1,141 million USD in 2024, reflecting a somewhat cyclical pattern.
- Outside United States
- Revenue outside the United States shows consistent growth from 12,737 million USD in 2019 to 23,358 million USD in 2024, with slight fluctuations in certain years. This category contributes the majority of total revenue growth and highlights the increasing importance of international markets.
- Consolidated Total
- The consolidated total net revenue grows steadily from 14,608 million USD in 2019 to 27,176 million USD in 2024, nearly doubling over the six-year period. The data indicates strong overall company growth driven primarily by increases in China, the United States, and other key international markets.
Long-lived assets
Applied Materials Inc., long-lived assets by geographic area
US$ in millions
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | Oct 27, 2019 | |
|---|---|---|---|---|---|---|
| United States | ||||||
| China | ||||||
| Korea | ||||||
| Taiwan | ||||||
| Japan | ||||||
| Europe | ||||||
| Southeast Asia | ||||||
| Outside United States | ||||||
| Consolidated total |
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
- United States
- The long-lived assets in the United States display a consistent upward trend over the six-year period. Starting from $1,539 million in 2019, the value increased each year, reaching $3,759 million in 2024. The growth is notable, particularly between 2021 and 2024, indicating a significant increase in asset investment or capitalization within the United States.
- China
- Assets in China show a steady decline, decreasing from $20 million in 2019 to $3 million in 2024. The downward trend is gradual and continuous, suggesting a reduction in asset holdings or divestment activities in this region.
- Korea
- The data for Korea similarly indicate a decreasing trend, with long-lived assets dropping from $24 million in 2019 to $9 million in 2024. The decline appears consistent, reflecting diminished asset presence or reallocation away from Korea.
- Taiwan
- Assets in Taiwan remain relatively stable, fluctuating minimally between $56 million and $62 million throughout the period. This stability suggests steady asset management without significant expansion or reduction.
- Japan
- Long-lived assets in Japan decline from $16 million in 2019 to $7 million by 2022 and maintain that level through 2024. The initial decrease followed by stabilization at the lower level indicates asset divestiture followed by maintenance of a reduced asset base.
- Europe
- Europe presents a notable increase, particularly from 2021 onwards. Asset values were relatively low at $12 million in 2021 but rose sharply to $113 million by 2024. This significant growth suggests recent and substantial investments or asset acquisitions in Europe.
- Southeast Asia
- There is a downward trend in Southeast Asia, with values falling from $23 million in 2019 to $5 million in 2024. The steady reduction indicates a consistent scale-back of long-lived assets in this region.
- Outside United States
- Assets located outside the United States collectively show a fluctuating but generally moderate upward trend, with values moving from $167 million in 2019 to $196 million in 2024. Despite drops in certain regions, this suggests some asset growth overall internationally, especially given the sharp increase in Europe.
- Consolidated Total
- The consolidated total of long-lived assets grows from $1,706 million in 2019 to $3,955 million in 2024. The aggregate increase reflects the dominant growth in the United States and Europe, offsetting declines in China, Korea, Japan, and Southeast Asia. The overall expansion signals increasing capitalization or asset acquisition activities over the period.