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SEGMENT REPORTING
 9 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
SEGMENT REPORTING
SEGMENT REPORTING

The Company has four reportable segments: HRS, CTG, IEI, and CEC. These segments are determined based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics. Refer to note 1 for a description of the various product categories manufactured under each of these segments.

An operating segment's performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net sales less cost of sales, and segment selling, general and administrative expenses, and does not include amortization of intangibles, stock-based compensation, restructuring charges, distressed customer charges, other charges (income), net and interest and other, net.

Selected financial information by segment is as follows:

 
Three-Month Periods Ended
 
Nine-Month Periods Ended
 
December 31, 2016
 
December 31, 2015
 
December 31, 2016
 
December 31, 2015
 
(In thousands)
Net sales:
 
 
 
 
 
 
 
Communications & Enterprise Compute
$
2,102,321

 
$
2,469,099

 
$
6,400,233

 
$
6,640,626

Consumer Technologies Group
1,848,970

 
2,057,850

 
4,827,488

 
5,633,903

Industrial & Emerging Industries
1,140,366

 
1,214,225

 
3,672,103

 
3,490,205

High Reliability Solutions
1,023,342

 
1,022,003

 
3,100,513

 
2,881,453

 
$
6,114,999

 
$
6,763,177

 
$
18,000,337

 
$
18,646,187

Segment income and reconciliation of income before tax:
 
 
 
 
 
 
 
Communications & Enterprise Compute
$
62,109

 
$
75,578

 
$
176,460

 
$
198,400

Consumer Technologies Group
59,282

 
49,032

 
139,230

 
129,045

Industrial & Emerging Industries
39,681

 
49,230

 
127,020

 
110,498

High Reliability Solutions
82,729

 
82,806

 
249,972

 
213,890

Corporate and Other
(20,695
)
 
(20,563
)
 
(82,395
)
 
(60,348
)
   Total segment income
223,106

 
236,083

 
610,287

 
591,485

Reconciling items:


 


 
 
 
 
Intangible amortization
18,734

 
19,319

 
62,318

 
43,117

Stock-based compensation
20,781

 
24,233

 
67,311

 
56,559

Inventory impairment and other (1)
—

 
—

 
92,915

 
—

Restructuring (2)
17,421

 
—

 
28,960

 
—

Other charges, net
3,090

 
44,415

 
15,007

 
46,257

Interest and other, net
22,838

 
21,566

 
71,869

 
60,106

    Income before income taxes
$
140,242

 
$
126,550

 
$
271,907

 
$
385,446


(1)
During the fourth quarter of fiscal year 2016, the Company accepted the return of previously shipped inventory from a former customer, SunEdison, Inc. ("SunEdison"), of approximately $90 million. On April 21, 2016, SunEdison filed a petition for reorganization under bankruptcy law, and as a result, the Company recognized a bad debt reserve of $61.0 million as of March 31, 2016, associated with its outstanding SunEdison receivables.
During the second quarter of fiscal year 2017, prices for solar panel modules declined significantly. The Company determined that certain solar panel inventory on hand at the end of the second quarter of fiscal year 2017 was not fully recoverable and recorded a charge of $60.0 million to reduce the carrying costs to market in the nine-month period ended December 31, 2016. The Company also recognized a $16.0 million impairment charge for solar module equipment and $16.9 million primarily related to negative margin sales and other associated solar panel direct costs incurred during the same period. The total charge of $92.9 million is included in cost of sales for the nine-month period ended December 31, 2016 but is excluded from segment results above.
(2)
During the second quarter of fiscal year 2017, the Company initiated a plan to rationalize the current footprint at existing sites including corporate SG&A functions and to continue to shift the talent base in support of its Sketch-to-Scaletm initiatives. As part of this plan, approximately $29.0 million was recognized during the nine-month period ended December 31, 2016. The Company expects to finalize the plan by the end of fiscal year 2017.
Corporate and other primarily includes corporate services costs that are not included in the Chief Operating Decision Maker's ("CODM") assessment of the performance of each of the identified reporting segments.

Property and equipment on a segment basis is not disclosed as it is not separately identified and is not internally reported by segment to the Company's CODM.