SEGMENT REPORTING (Tables)

9 Months Ended

Dec. 31, 2016

Schedule of segment reporting information by operating segment

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-Scale^tm initiatives. As part of this plan, approximately $29.0 million was recognized during the nine-month period ended December 31, 2016.