The company continues to focus on the automotive and industrial end-markets, with these sectors representing 52% and 28% of revenue, respectively, in 2023. This strategic focus aims to capitalize on long-term growth trends in these areas.

The company ramped up manufacturing at its EFK location and expanded capacity in Hudson, New Hampshire, Roznov, Czech Republic, and Bucheon, South Korea to increase SiC manufacturing capabilities. This expansion aims to meet the growing demand for SiC-based solutions.

The company realigned operating models, resulting in approximately 1,900 employees being notified of termination. This action was taken to streamline operations and consolidate resources, aligning with the 'Fab Right' manufacturing strategy.

The company expects to continue evaluating cost-saving initiatives to align cost structure, capital investments, and other expenditures with expected revenue and capacity levels. This indicates a proactive approach to managing profitability.

The company is actively managing and taking corrective actions in its manufacturing capacity and spending to align with forecasted 2024 demand. This shows responsiveness to changing market conditions.

The company recognizes the importance of effective supply chain management and is actively working to achieve further reductions in operating expenses. This indicates a focus on operational efficiency.

The company's manufacturing network includes multiple owned and third-party facilities, and operational disruptions at a facility may have a disproportionate impact on the ability to produce products. This highlights a significant operational risk.

The semiconductor industry requires substantial investment in research and development, and the lengthy development cycle for certain products could limit the company's ability to adapt quickly to changes affecting product markets and customer requirements. This highlights a risk related to innovation and market responsiveness.

The imposition of tariffs, export controls, and other trade restrictions may adversely affect sales and profitability. This highlights a risk related to international trade disputes and changes in trade policies.

The semiconductor industry is highly competitive, with competition from major international semiconductor companies and smaller companies focused on specific market niches. This highlights the need for continuous innovation and efficiency.

The semiconductor industry has experienced, and may continue to experience, significant consolidation among companies and vertical integration among customers. This highlights the need to identify attractive opportunities for consolidation.

Some competitors may receive governmental subsidies or other incentives that give them a competitive advantage. This highlights the need to access such funding or incentives.

Manufacturing efficiency is contingent upon the operations of interdependent processes and will continue to be an important factor in future profitability. This highlights the need to maintain manufacturing efficiency.

If the company is unable to utilize its manufacturing facilities at expected levels, the fixed costs and other operating expenses associated with these facilities will not be fully absorbed, resulting in higher average unit costs and lower gross profits. This highlights the need to optimize manufacturing capacity.

The company is pursuing a number of actions, including the outsourcing of certain internal business processes and the deployment of enhanced end-to-end digital processes. This indicates a focus on improving operational efficiency.

Product development efforts are directed towards powering the electrification of the automotive industry, propelling the sustainable energy evolution, enhancing the automotive mobility experience, and enabling automation and data exchange. This indicates a focus on innovation in key areas.

The company regularly re-evaluates its research and development spending, to assess the deployment of resources and to review the funding of high-growth technologies. This indicates a focus on maximizing the return for research and development investments.

The principal methods of competition in the discrete, module and integrated semiconductor products are through new products and package innovations enabling enhanced performance over existing products. This indicates a focus on product innovation.

Capital expenditures are primarily directed towards manufacturing equipment and can materially influence available cash for other initiatives. This indicates a focus on expanding manufacturing capabilities.

The amount and frequency of share repurchases are affected by a number of factors and may fluctuate based on operating results, cash flows, and priorities for the use of cash and because of changes in tax laws, and the market price of common stock. This highlights the flexibility in capital allocation.

The company repaid $1,086.0 million of the existing indebtedness under the Term Loan "B" Facility, the related transaction fees and expenses and to pay approximately $171.5 million net cost of the related convertible note hedges. The company also issued $1.5 billion of 0.50% Notes on February 28, 2023.

The company has a goal to achieve net zero emissions by 2040, and is currently formulating the strategy and taking initial steps towards the achievement. This indicates a commitment to environmental sustainability.

The company proactively complies with the Responsible Business Alliance Code of Conduct, which is aimed at eliminating forced labor, slavery and human trafficking and conflict minerals. This indicates a commitment to social responsibility.

The Board of Directors and management regularly evaluate corporate responsibility policies, including the Code of Business Conduct and other corporate social responsibility policies and programs. This indicates a commitment to governance.

During 2023, the semiconductor industry experienced a slow down due to softening demand. This reflects the cyclical nature of the industry.

The company is monitoring the economic environment and related forecasts, and for indicators that would suggest the global economic slowdown could continue. This indicates a proactive approach to managing market risks.

Customers in the automotive and industrial end-markets are sensitive to changes in general economic conditions, inflationary pressure, increases in interest rates, disruptive innovation and end-market preferences. This highlights the company's vulnerability to macroeconomic factors.