Analysis of Geographic Areas
NXP Semiconductors N.V. operates in 9 regions: China; Netherlands; United States; Singapore; Germany; Japan; South Korea; Malaysia; and Other countries.
Area Asset Turnover
NXP Semiconductors N.V., asset turnover by geographic area
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| China | 10.80 | 12.93 | 11.88 | 11.95 | 12.95 |
| Netherlands | 1.40 | 1.05 | 1.24 | 1.63 | 1.54 |
| United States | 1.34 | 0.98 | 0.99 | 1.18 | 1.20 |
| Singapore | 3.25 | 3.50 | 3.13 | 4.09 | 5.13 |
| Germany | 14.27 | 9.47 | 10.12 | 9.65 | 10.00 |
| Japan | 810.00 | — | — | — | — |
| South Korea | — | — | — | — | — |
| Malaysia | 0.38 | 0.33 | 0.36 | 0.30 | 0.28 |
| Other countries | 4.40 | 4.19 | 4.56 | 4.11 | 3.74 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
The geographic analysis of asset turnover reveals significant disparities in asset utilization efficiency across different operational regions. The ratios indicate a strategic divide between high-turnover regions, likely serving as sales or distribution hubs, and low-turnover regions, which likely house capital-intensive manufacturing or research infrastructure.
- High-Efficiency Regions
- China and Germany consistently exhibit high asset turnover ratios. China maintained a strong position, although a gradual decline is observed from 12.95 in 2017 to 10.80 in 2021. Germany showed relative stability around the 10.00 mark for several years before experiencing a sharp increase to 14.27 in 2021.
- Asset-Intensive Regions
- The Netherlands, the United States, and Malaysia report the lowest turnover ratios. Malaysia consistently shows the lowest efficiency, although a marginal improvement occurred from 0.28 in 2017 to 0.38 in 2021. The Netherlands and United States both fluctuate within a low range, generally between 0.98 and 1.63, suggesting a higher concentration of fixed assets relative to the revenue generated in those areas.
- Declining and Anomalous Trends
- Singapore demonstrates a clear downward trajectory, with the ratio falling from 5.13 in 2017 to 3.25 in 2021. A significant anomaly is present in the Japan region for 2021, where the ratio reached 810.00, representing an extreme outlier compared to all other geographic segments and historical figures.
- Other International Markets
- The "Other countries" category reflects a stable and slightly improving trend, rising from 3.74 in 2017 to 4.40 in 2021, indicating consistent asset utilization across miscellaneous geographic areas.
Overall, the trend highlights a concentration of asset-heavy operations in Malaysia, the US, and the Netherlands, while the European and Chinese markets operate with significantly higher asset agility. The sudden spike in the Japan ratio for 2021 suggests a potential shift in asset structure or a reporting anomaly in that specific jurisdiction.
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Area Asset Turnover: China
NXP Semiconductors N.V.; China; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 4,180) | 3,324) | 3,147) | 3,430) | 3,640) |
| Property, plant and equipment, net | 387) | 257) | 265) | 287) | 281) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 10.80 | 12.93 | 11.88 | 11.95 | 12.95 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 4,180 ÷ 387 = 10.80
The financial performance in China from 2017 to 2021 is characterized by a period of revenue contraction followed by a strong recovery, accompanied by a significant shift in capital expenditure during the final year of the analyzed period.
- Revenue Performance
- Revenue experienced a downward trend between 2017 and 2019, decreasing from US$ 3,640 million to US$ 3,147 million. A recovery phase began in 2020, culminating in a significant increase to US$ 4,180 million by December 31, 2021, marking the highest revenue level in the five-year period.
- Net Property, Plant, and Equipment (PP&E) Trends
- Capital assets remained relatively stable from 2017 through 2020, with net PP&E fluctuating slightly between US$ 257 million and US$ 287 million. However, a substantial increase was recorded in 2021, with assets rising to US$ 387 million, indicating a period of aggressive investment in infrastructure or capacity.
- Area Asset Turnover Analysis
- The area asset turnover ratio displayed volatility, reflecting the varying relationship between revenue generation and asset investment. The ratio declined from 12.95 in 2017 to 11.88 in 2019 as revenues fell. An improvement was observed in 2020, where the ratio rose to 12.93, driven by recovering revenues and a slight reduction in net PP&E. In 2021, despite the record revenue growth, the turnover ratio fell to its lowest point of 10.80. This suggests that the growth in the asset base significantly outpaced the increase in revenue, leading to a temporary reduction in asset utilization efficiency.
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Area Asset Turnover: Netherlands
NXP Semiconductors N.V.; Netherlands; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 352) | 222) | 275) | 349) | 304) |
| Property, plant and equipment, net | 251) | 212) | 221) | 214) | 198) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.40 | 1.05 | 1.24 | 1.63 | 1.54 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 352 ÷ 251 = 1.40
The operational efficiency of the Netherlands geographic area experienced significant volatility between 2017 and 2021, characterized by a cyclical trend in asset utilization and revenue generation.
- Revenue Performance
- Revenue exhibited a fluctuating trajectory, increasing from US$ 304 million in 2017 to US$ 349 million in 2018. A subsequent decline was observed over the following two years, reaching a period low of US$ 222 million in 2020, before recovering strongly to a five-year peak of US$ 352 million in 2021.
- Asset Base Expansion
- Net property, plant, and equipment showed a general upward trend, growing from US$ 198 million in 2017 to US$ 251 million in 2021. While the asset base expanded steadily through 2019, a slight contraction occurred in 2020, followed by a notable increase in capital investment during the 2021 fiscal year.
- Area Asset Turnover Efficiency
- The asset turnover ratio fluctuated in alignment with revenue trends. Efficiency peaked in 2018 at 1.63, indicating optimal utilization of assets to generate sales. This was followed by a persistent decline, reaching a minimum of 1.05 in 2020, which coincided with the contraction in revenue against a relatively stable asset base. A recovery to 1.40 was recorded in 2021, suggesting that the surge in revenue outpaced the increase in net property, plant, and equipment.
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Area Asset Turnover: United States
NXP Semiconductors N.V.; United States; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 964) | 750) | 840) | 919) | 922) |
| Property, plant and equipment, net | 719) | 766) | 845) | 782) | 770) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.34 | 0.98 | 0.99 | 1.18 | 1.20 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 964 ÷ 719 = 1.34
The operational efficiency of assets within the United States region experienced a cyclical trend between 2017 and 2021. Following a period of declining asset productivity that bottomed out in 2020, the region achieved its highest efficiency level of the five-year period in 2021.
- Revenue Trends
- Revenue in the United States underwent a steady decline from 922 million USD in 2017 to a low of 750 million USD in 2020. This downward trajectory was reversed in 2021, with revenue rising to 964 million USD, representing a significant recovery and the highest annual revenue recorded in the analyzed timeframe.
- Net Property, Plant, and Equipment (PP&E)
- Net PP&E showed moderate fluctuations, reaching a peak of 845 million USD in 2019. Following this peak, the net asset base decreased, ending the period at 719 million USD in 2021. This reduction suggests a contraction in the net value of fixed assets, potentially due to depreciation or asset divestment.
- Area Asset Turnover Analysis
- The area asset turnover ratio exhibited a clear U-shaped pattern. The ratio decreased from 1.20 in 2017 to 0.98 in 2020, indicating that the asset base was becoming less productive relative to the revenue generated. However, in 2021, the ratio surged to 1.34. This improvement was driven by the convergence of increasing revenues and a diminished net PP&E balance, resulting in a marked increase in asset utilization efficiency.
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Area Asset Turnover: Singapore
NXP Semiconductors N.V.; Singapore; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 1,269) | 1,064) | 1,006) | 1,220) | 1,082) |
| Property, plant and equipment, net | 391) | 304) | 321) | 298) | 211) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 3.25 | 3.50 | 3.13 | 4.09 | 5.13 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 1,269 ÷ 391 = 3.25
The financial performance of the Singapore operations between 2017 and 2021 is characterized by significant capital expansion alongside fluctuating revenue streams, resulting in a general decline in asset utilization efficiency.
- Revenue Trends
- Revenue exhibited volatility throughout the analyzed period, reaching a peak of 1,269 million US dollars in 2021. Despite a contraction in 2019, where revenue fell to 1,006 million US dollars, a recovery trend followed in 2020 and 2021, ultimately exceeding the 2017 baseline of 1,082 million US dollars.
- Net Property, Plant, and Equipment Growth
- A substantial increase in net property, plant, and equipment is observed, rising from 211 million US dollars in 2017 to 391 million US dollars by 2021. This reflects a consistent expansion of the asset base, with the most pronounced growth occurring during the 2018 and 2019 fiscal years.
- Area Asset Turnover Analysis
- The area asset turnover ratio demonstrated a clear downward trajectory, decreasing from 5.13 in 2017 to 3.25 in 2021. This trend indicates that the growth in fixed assets outpaced the growth in revenue, leading to a reduction in the efficiency of asset deployment. Although a marginal improvement to 3.50 occurred in 2020, the long-term trend suggests that the incremental capital investments have not yet yielded proportional increases in sales volume.
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Area Asset Turnover: Germany
NXP Semiconductors N.V.; Germany; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 628) | 483) | 526) | 531) | 570) |
| Property, plant and equipment, net | 44) | 51) | 52) | 55) | 57) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 14.27 | 9.47 | 10.12 | 9.65 | 10.00 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 628 ÷ 44 = 14.27
The financial performance in Germany between 2017 and 2021 is characterized by a consistent reduction in the asset base coupled with a volatile revenue trajectory, resulting in a significant improvement in asset efficiency by the end of the analyzed period.
- Revenue Performance
- Revenue experienced a gradual decline from 570 million USD in 2017 to a low of 483 million USD in 2020. This downward trend was reversed in 2021, when revenue surged to 628 million USD, marking the highest level of sales for the region within the five-year window.
- Net Property, Plant and Equipment (PP&E)
- A consistent downward trend is observed in net PP&E, which decreased annually from 57 million USD in 2017 to 44 million USD in 2021. This steady decline indicates a reduction in the net book value of physical assets deployed in Germany over the period.
- Area Asset Turnover Analysis
- The area asset turnover ratio remained relatively stable from 2017 through 2020, fluctuating between a high of 10.12 and a low of 9.47. In 2021, the ratio increased sharply to 14.27. This substantial growth in turnover is attributed to the confluence of reaching peak revenue levels while simultaneously operating with the lowest net PP&E of the period, signaling a significant increase in capital productivity.
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Area Asset Turnover: Japan
NXP Semiconductors N.V.; Japan; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 810) | 647) | 780) | 735) | 750) |
| Property, plant and equipment, net | 1) | —) | —) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 810.00 | — | — | — | — |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 810 ÷ 1 = 810.00
Revenue in the Japanese market exhibited a fluctuating trajectory between 2017 and 2021. Following a slight contraction in 2018, revenue recovered in 2019, only to experience a significant decline in 2020. However, a strong rebound occurred in 2021, with revenue reaching a five-year peak of US$ 810 million.
- Area Asset Turnover Efficiency
- As of December 31, 2021, the area asset turnover ratio was 810.00. This exceptionally high figure is derived from US$ 810 million in revenue generated against a nominal net property, plant, and equipment value of US$ 1 million.
- Capital Asset Utilization
- The minimal investment in physical infrastructure relative to the volume of sales indicates a highly efficient use of local fixed assets. This pattern suggests that operations in Japan are likely focused on sales, marketing, and distribution rather than capital-intensive manufacturing, allowing for high revenue generation without the need for substantial local plant and equipment holdings.
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Area Asset Turnover: South Korea
NXP Semiconductors N.V.; South Korea; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 467) | 327) | 327) | 357) | 356) |
| Property, plant and equipment, net | —) | —) | —) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 467 ÷ 0 = —
The revenue generated from operations in South Korea exhibited a period of relative stability and moderate decline followed by a significant recovery between 2017 and 2021.
- Revenue Performance Trends
- Revenue remained nearly constant between 2017 and 2018, moving from 356 million USD to 357 million USD. A subsequent contraction occurred in 2019, with revenue falling to 327 million USD, a level that remained unchanged through the end of 2020.
- A substantial upward trajectory was recorded in 2021, with revenue increasing to 467 million USD. This represents an increase of approximately 42.8% compared to the 2020 fiscal year.
- Area Asset Turnover Interpretation
- An analysis of the area asset turnover ratio cannot be performed as the necessary values for net property, plant, and equipment are not available for the specified period. Without these asset figures, it is not possible to determine the efficiency with which the company utilized its physical assets in South Korea to generate revenue.
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Area Asset Turnover: Malaysia
NXP Semiconductors N.V.; Malaysia; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 123) | 95) | 120) | 112) | 103) |
| Property, plant and equipment, net | 326) | 288) | 337) | 373) | 369) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.38 | 0.33 | 0.36 | 0.30 | 0.28 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 123 ÷ 326 = 0.38
Analysis of the Malaysia geographic area indicates a general improvement in asset utilization efficiency between 2017 and 2021. While revenue and the asset base experienced volatility, the overall trajectory demonstrates an increased capacity to generate sales from property, plant, and equipment.
- Revenue Performance
- Revenue exhibited a growth trend from 2017 to 2019, rising from US$ 103 million to US$ 120 million. A notable contraction occurred in 2020, where revenue decreased to US$ 95 million, followed by a recovery in 2021 to a five-year peak of US$ 123 million.
- Net Property, Plant, and Equipment (PP&E) Trends
- The net PP&E base remained relatively stable between 2017 and 2018, peaking at US$ 373 million. A sustained downward trend followed, with asset values declining to US$ 288 million by 2020. This was followed by a moderate increase to US$ 326 million in 2021, suggesting a period of asset consolidation followed by renewed investment.
- Area Asset Turnover Analysis
- The area asset turnover ratio improved from 0.28 in 2017 to 0.38 in 2021. The increase through 2019 was characterized by rising revenues coupled with a decreasing asset base. Despite a marginal decline to 0.33 in 2020—resulting from the drop in revenue—the ratio reached its highest point in 2021. This indicates that the region achieved its highest level of operational efficiency relative to its fixed asset investment at the end of the analyzed period.
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Area Asset Turnover: Other countries
NXP Semiconductors N.V.; Other countries; area asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 2,270) | 1,700) | 1,856) | 1,754) | 1,529) |
| Property, plant and equipment, net | 516) | 406) | 407) | 427) | 409) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 4.40 | 4.19 | 4.56 | 4.11 | 3.74 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
1 2021 Calculation
Area asset turnover = Revenue ÷ Property, plant and equipment, net
= 2,270 ÷ 516 = 4.40
An analysis of the asset utilization within the "Other countries" segment reveals a general trajectory of revenue growth and fluctuating operational efficiency between 2017 and 2021.
- Revenue Performance
- Revenue grew steadily from US$ 1,529 million in 2017 to a peak of US$ 1,856 million in 2019. Following a moderate contraction in 2020, where revenue declined to US$ 1,700 million, a significant surge occurred in 2021, with revenue reaching US$ 2,270 million.
- Net Property, Plant, and Equipment (PP&E)
- Fixed assets remained relatively stable from 2017 through 2020, with values fluctuating within a narrow range between US$ 406 million and US$ 427 million. A marked increase was observed in 2021, as net PP&E rose to US$ 516 million, signaling an expansion of the physical asset base.
- Area Asset Turnover Efficiency
- The area asset turnover ratio exhibited an upward trend from 3.74 in 2017 to a peak of 4.56 in 2019, indicating an increase in the efficiency of generating revenue from fixed assets. The ratio decreased to 4.19 in 2020, correlating with the dip in annual revenue. By 2021, the ratio recovered to 4.40, demonstrating that the growth in revenue more than offset the simultaneous increase in net PP&E.
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Revenue
NXP Semiconductors N.V., revenue by geographic area
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| China | 4,180) | 3,324) | 3,147) | 3,430) | 3,640) |
| Netherlands | 352) | 222) | 275) | 349) | 304) |
| United States | 964) | 750) | 840) | 919) | 922) |
| Singapore | 1,269) | 1,064) | 1,006) | 1,220) | 1,082) |
| Germany | 628) | 483) | 526) | 531) | 570) |
| Japan | 810) | 647) | 780) | 735) | 750) |
| South Korea | 467) | 327) | 327) | 357) | 356) |
| Malaysia | 123) | 95) | 120) | 112) | 103) |
| Other countries | 2,270) | 1,700) | 1,856) | 1,754) | 1,529) |
| Total | 11,063) | 8,612) | 8,877) | 9,407) | 9,256) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
Total revenue experienced a period of moderate volatility between 2017 and 2020, characterized by a gradual contraction from a peak of US$ 9,407 million in 2018 to a low of US$ 8,612 million in 2020. This trend was sharply reversed in 2021, with total revenue increasing by approximately 28% to reach US$ 11,063 million, the highest level within the analyzed five-year period.
- Primary Market Analysis
- China remains the dominant geographic contributor to total revenue. After a downward trend that saw revenues drop from US$ 3,640 million in 2017 to US$ 3,147 million in 2019, the region rebounded strongly to reach US$ 4,180 million in 2021, underscoring its role as the primary driver of overall growth.
- Western Market Trends
- The United States, Germany, and the Netherlands exhibited similar trajectories of decline followed by recovery. The United States saw revenue decrease from US$ 922 million in 2017 to US$ 750 million in 2020, before recovering to US$ 964 million in 2021. Germany followed a similar pattern, dipping to US$ 483 million in 2020 before rising to US$ 628 million in 2021.
- Asia-Pacific Performance
- Singapore showed relative resilience, with revenues fluctuating within a tighter range between US$ 1,006 million and US$ 1,269 million. Japan experienced a dip to US$ 647 million in 2020 but recovered to US$ 810 million by 2021. South Korea remained nearly flat between 2017 and 2020 before recording a significant increase to US$ 467 million in 2021.
- Diversification and Other Regions
- Revenue from other countries demonstrated a consistent long-term upward trend, growing from US$ 1,529 million in 2017 to US$ 2,270 million in 2021. This suggests an expansion of the company's market reach outside of its primary named geographic hubs.
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Property, plant and equipment, net
NXP Semiconductors N.V., property, plant and equipment, net by geographic area
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| China | 387) | 257) | 265) | 287) | 281) |
| Netherlands | 251) | 212) | 221) | 214) | 198) |
| United States | 719) | 766) | 845) | 782) | 770) |
| Singapore | 391) | 304) | 321) | 298) | 211) |
| Germany | 44) | 51) | 52) | 55) | 57) |
| Japan | 1) | —) | —) | —) | —) |
| South Korea | —) | —) | —) | —) | —) |
| Malaysia | 326) | 288) | 337) | 373) | 369) |
| Other countries | 516) | 406) | 407) | 427) | 409) |
| Total | 2,635) | 2,284) | 2,448) | 2,436) | 2,295) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
The net property, plant, and equipment (PP&E) across all geographic regions exhibited an overall upward trajectory between 2017 and 2021, increasing from 2,295 million USD to 2,635 million USD. While a temporary contraction occurred in 2020, where total assets dipped to 2,284 million USD, a significant recovery and expansion were recorded in 2021, marking the highest asset valuation in the five-year period.
- Expansion in Asian Markets
- A strong growth pattern is evident in Singapore and China. Singapore's net PP&E nearly doubled over the period, rising from 211 million USD in 2017 to 391 million USD in 2021. China showed a similar acceleration, particularly between 2020 and 2021, where assets surged from 257 million USD to 387 million USD. This suggests a strategic shift or investment increase in these regions during the latter part of the analysis period.
- Contraction in Western Markets
- The United States, which maintained the highest absolute value of PP&E throughout the period, experienced a decline after 2019. Assets peaked at 845 million USD in 2019 before falling to 719 million USD by 2021. A similar, albeit smaller, downward trend is observed in Germany, where net PP&E decreased steadily from 57 million USD in 2017 to 44 million USD in 2021.
- Volatility in Southeast Asian Operations
- Assets in Malaysia exhibited volatility, peaking at 373 million USD in 2018 and declining to a low of 288 million USD in 2020, before partially recovering to 326 million USD in 2021. This fluctuation indicates a period of asset depreciation or divestment followed by modest reinvestment.
- Other Geographic Distributions
- The Netherlands showed a consistent, gradual increase in net PP&E, moving from 198 million USD in 2017 to 251 million USD in 2021. Assets categorized under other countries also saw a notable increase, rising from 409 million USD in 2017 to 516 million USD in 2021. Additionally, a nominal entry for Japan appeared in 2021, representing 1 million USD in net PP&E.
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