Reportable Segments

6 Months Ended

Apr. 02, 2022

Segment Reporting [Abstract]

Reportable Segments

Reportable SegmentsReportable 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. 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 six months ended April 2, 2022 and April 3, 2021 is as follows (in thousands):

	Three Months Ended				Six Months Ended
	April 2, 2022		April 3, 2021		April 2, 2022		April 3, 2021
Net sales:
AMER	$	311,205	$	364,697	$	588,551	$	692,264
APAC	533,885		458,872		1,025,557		910,174
EMEA	73,702		83,322		146,565		162,045
Elimination of inter-segment sales	(30,069)		(26,006)		(54,494)		(53,243)
	$	888,723	$	880,885	$	1,706,179	$	1,711,240
Operating income (loss):
AMER	$	7,769	$	26,203	$	9,559	$	42,685
APAC	60,860		58,112		121,548		119,654
EMEA	490		(1,618)		1,446		(2,606)
Corporate and other costs	(33,282)		(32,010)		(66,243)		(62,180)
	$	35,837	$	50,687	$	66,310	$	97,553
Other income (expense):
Interest expense	$	(3,345)	$	(3,818)	$	(6,391)	$	(7,904)
Interest income	262		390		533		764
Miscellaneous, net	(1,446)		(825)		(2,369)		(2,343)
Income before income taxes	$	31,308	$	46,434	$	58,083	$	88,070

	April 2, 2022		October 2, 2021
Total assets:
AMER	$	962,320	$	789,385
APAC	1,626,518		1,283,124
EMEA	295,353		275,122
Corporate and eliminations	105,857		114,262
	$	2,990,048	$	2,461,893