Reportable Segments

9 Months Ended

Jul. 04, 2020

Segment Reporting [Abstract]

Reportable Segments

Reportable Segments

Reportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in assessing performance and allocating resources. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company’s resources on a regional basis. Net sales for the segments are attributed to the region in which the product is manufactured or the service is performed. We operate in the Americas ("AMER"), Asia-Pacific ("APAC") and Europe, Middle East, and Africa ("EMEA"). The services provided, manufacturing processes used, class of customers serviced and order fulfillment processes used are similar and generally interchangeable across the segments. A segment’s performance is evaluated based upon its operating income (loss). A segment’s operating income (loss) includes its net sales less cost of sales and selling and administrative expenses, but excludes corporate and other expenses. Corporate and other expenses primarily represent corporate selling and administrative expenses, and restructuring costs and other charges, if any. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally recorded at amounts that approximate arm’s length transactions. The accounting policies for the segments are the same as for the Company taken as a whole.

Information about the Company’s three reportable segments for the three and nine months ended July 4, 2020 and June 29, 2019, respectively, is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	July 4, 2020		June 29, 2019		July 4, 2020		June 29, 2019
Net sales:
AMER	$	305,941	$	366,466	$	993,871	$	1,084,823
APAC	482,267		384,841		1,321,254		1,141,394
EMEA	91,846		81,318		250,326		229,438
Elimination of inter-segment sales	(22,660)		(32,981)		(88,284)		(101,416)
	$	857,394	$	799,644	$	2,477,167	$	2,354,239
Operating income (loss):
AMER	$	8,516	$	14,221	$	21,102	$	42,901
APAC	66,297		51,264		178,549		151,779
EMEA	1,115		1,522		257		2,385
Corporate and other costs	(30,075)		(32,604)		(96,912)		(92,537)
	$	45,853	$	34,403	$	102,996	$	104,528
Other income (expense):
Interest expense	$	(3,988)	$	(3,711)	$	(11,934)	$	(9,105)
Interest income	368		445		1,546		1,410
Miscellaneous, net	(600)		(1,419)		(2,619)		(4,304)
Income before income taxes	$	41,633	$	29,718	$	89,989	$	92,529

	July 4, 2020		September 28, 2019
Total assets:
AMER	$	787,879	$	751,990
APAC	1,116,558		958,744
EMEA	275,134		209,541
Corporate and eliminations	108,953		80,608
	$	2,288,524	$	2,000,883