Reportable Segments

3 Months Ended

Dec. 31, 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 three months ended December 31, 2022 and January 1, 2022 is as follows (in thousands):

	Three Months Ended
	December 31, 2022		January 1, 2022
Net sales:
AMER	$	389,662	$	277,346
APAC	641,904		491,672
EMEA	89,373		72,863
Elimination of inter-segment sales	(27,014)		(24,425)
	$	1,093,925	$	817,456
Operating income (loss):
AMER	$	17,415	$	1,790
APAC	78,406		60,688
EMEA	(639)		956
Corporate and other costs	(37,841)		(32,961)
	57,341		30,473
Other income (expense):
Interest expense	(6,894)		(3,046)
Interest income	934		271
Miscellaneous, net	(1,944)		(923)
Income before income taxes	$	49,437	$	26,775

	December 31, 2022		October 1, 2022
Total assets:
AMER	$	1,171,188	$	1,150,605
APAC	1,809,364		1,807,542
EMEA	339,382		302,901
Corporate and eliminations	75,358		132,177
	$	3,395,292	$	3,393,225