Operating Segment Information

9 Months Ended

Jan. 01, 2022

Segment Reporting [Abstract]

OPERATING SEGMENT INFORMATION

OPERATING SEGMENT INFORMATION

The Company's operating and reportable segments are Mobile Products ("MP") and Infrastructure and Defense Products ("IDP") based on the organizational structure and information reviewed by the Company's Chief Executive Officer, who is the Company's chief operating decision maker ("CODM"), and these segments are managed separately based on the end markets and applications they support. The CODM allocates resources and assesses the performance of each operating segment primarily based on operating income.

MP is a global supplier of cellular, UWB, Wi-Fi and other solutions for a variety of applications, including smartphones, wearables, laptops, tablets and Internet of Things ("IoT").

IDP is a global supplier of RF, system-on-a-chip and power management solutions for a wide range of applications including cellular and IT infrastructure, automotive, green energy, defense and IoT.

The "All other" category includes operating expenses such as stock-based compensation, amortization of intangible assets, acquisition and integration related costs, (loss) gain on assets, start-up costs, restructuring related charges and other miscellaneous corporate overhead expenses that the Company does not allocate to its reportable segments because these expenses are not included in the segment operating performance measures evaluated by the Company’s CODM. The CODM does not evaluate operating segments using discrete asset information. The Company’s operating segments do not record intercompany revenue. The Company does not allocate gains and losses from equity investments, interest and other income (expense), or taxes to operating segments. Except as discussed above regarding the "All other" category, the Company’s accounting policies for segment reporting are the same as for the Company as a whole.

The following tables present details of the Company’s operating and reportable segments and a reconciliation of the “All other” category (in thousands):

	Three Months Ended				Nine Months Ended
	January 1, 2022		January 2, 2021		January 1, 2022		January 2, 2021
Revenue:
MP	$	848,428	$	826,021	$	2,680,263	$	2,048,719
IDP	265,529		268,813		799,293		893,858
Total revenue	$	1,113,957	$	1,094,834	$	3,479,556	$	2,942,577
Operating income (loss):
MP	$	306,014	$	342,118	$	991,293	$	714,959
IDP	65,994		59,241		183,162		219,491
All other	(75,998)		(102,156)		(218,983)		(320,891)
Operating income	296,010		299,203		955,472		613,559
Interest expense	(15,328)		(17,453)		(45,934)		(59,788)
Other income (expense), net	2,532		(58,234)		24,077		(33,177)
Income before income taxes	$	283,214	$	223,516	$	933,615	$	520,594

	Three Months Ended				Nine Months Ended
	January 1, 2022		January 2, 2021		January 1, 2022		January 2, 2021
Reconciliation of “All other” category:
Stock-based compensation expense	$	(19,307)	$	(19,247)	$	(73,236)	$	(71,154)
Amortization of intangible assets	(38,443)		(73,112)		(112,243)		(217,203)
Acquisition and integration related costs	(6,552)		(5,261)		(16,585)		(25,183)
Other (including (loss) gain on assets, start-up costs, restructuring related charges and other miscellaneous corporate overhead)	(11,696)		(4,536)		(16,919)		(7,351)
Loss from operations for “All other”	$	(75,998)	$	(102,156)	$	(218,983)	$	(320,891)