Operating Segment Information

3 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

OPERATING SEGMENT INFORMATION

OPERATING SEGMENT INFORMATION

The Company's three operating and reportable segments, HPA, CSG, and ACG, are based on the organizational structure and information reviewed by the Company's Chief Executive Officer, who is also the Company's chief operating decision maker ("CODM"). The CODM allocates resources and evaluates the performance of each of the three operating segments primarily based on operating income. The Company’s manufacturing facilities service and provide benefit to all three operating segments and the operating costs of the facilities are reflected in the cost of goods sold for each operating segment. The Company’s operating segments do not record intercompany revenue. The Company does not allocate gains and losses from investments, interest expense, other income (expense), or taxes to operating segments. The CODM does not evaluate operating segments using discrete asset information.

HPA is a leading global supplier of radio frequency ("RF"), analog mixed signal and power management solutions. HPA leverages a diverse portfolio of differentiated process technologies and products to serve customers in automotive, consumer, defense and aerospace, infrastructure, industrial and enterprise, and mobile markets.

CSG is a leading global supplier of connectivity and sensor solutions. CSG leverages broad expertise spanning ultra-wideband, Matter®, Bluetooth® Low Energy, Zigbee®, Thread®, Wi-Fi®, cellular Internet of Things, and microelectromechanical force sensing touch sensors to serve customers in automotive, consumer, industrial and enterprise, and mobile markets.

ACG is a leading global supplier of advanced cellular RF solutions for smartphones and consumer devices including tablets and wearables. ACG leverages world-class technology and systems-level expertise to deliver a broad portfolio of high-performance discrete and highly integrated cellular products.

The "All other" category includes operating expenses such as stock-based compensation expense, amortization of intangible assets, restructuring-related charges, acquisition and integration-related costs, gain or loss on assets, costs associated with upgrading our core business systems and other miscellaneous corporate overhead expenses that the Company does not allocate to its operating segments because these expenses are not included in the segment operating performance measures evaluated by the Company’s CODM. 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
	June 29, 2024		July 1, 2023
Revenue:
HPA	$	129,468	$	139,692
CSG	114,853		99,263
ACG	642,350		412,209
Total revenue	$	886,671	$	651,164
Operating income (loss):
HPA	$	4,881	$	23,964
CSG	(19,501)		(20,161)
ACG	116,449		44,998
All other	(97,223)		(96,937)
Operating income (loss)	4,606		(48,136)
Interest expense	(17,094)		(17,261)
Other income, net	11,765		13,716
Loss before income taxes	$	(723)	$	(51,681)

	Three Months Ended
	June 29, 2024		July 1, 2023
Reconciliation of "All other" category:
Stock-based compensation expense	$	(42,366)	$	(38,445)
Amortization of intangible assets	(30,474)		(30,872)
Restructuring-related charges (1)	(19,574)		(22,736)
Acquisition and integration-related costs	(2,582)		(1,195)
Other	(2,227)		(3,689)
Loss from operations for "All other"	$	(97,223)	$	(96,937)

(1) Refer to Note 11 for additional information.