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Segment Information
 12 Months Ended
Jan. 26, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's CEO functions as the chief operating decision maker ("CODM"). The CODM makes operating decisions and assesses performance based on the Company's major product lines, which represent its operating segments. The Company has three operating segments—Protection, Signal Integrity, and Wireless and Sensing—that have similar economic characteristics and have been aggregated into one reportable segment identified as the "Semiconductor Products Group."
The Company’s assets are commingled among the various operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment in the segment disclosures below.
Net sales by reportable segment were as follows:
 
Fiscal Year Ended
(in thousands)
January 26, 2020
 
January 27, 2019
 
January 28, 2018
Semiconductor Products Group
$
547,512

 
$
627,196

 
$
587,847

Total
$
547,512

  
$
627,196

 
$
587,847


The following table presents a reconciliation of operating income by segment to consolidated income before taxes: (historical amounts have been adjusted to conform to the current presentation):
 
Fiscal Year Ended
(in thousands)
January 26, 2020
 
January 27, 2019
 
January 28, 2018
Semiconductor Products Group
$
124,911

 
$
186,975

 
$
160,810

   Operating income by segment
124,911

 
186,975

 
160,810

Items to reconcile segment operating income to consolidated income before taxes:
 
 
 
 
 
Share-based compensation
52,049

 
66,837

 
50,051

Intangible amortization
16,546

 
26,649

 
27,867

Investment impairments
1,211

 
30,000

 
4,250

Changes in the fair value of contingent earn-out obligations
(2,345
)
 
(9,419
)
 
3,892

Restructuring and other reserves
4,621

 
769

 
6,196

Litigation cost, net of recoveries
1,340

 
(6,137
)
 
2,183

Transaction and integration related
691

 
2,777

 
3,810

Amortization of fair value adjustments related to acquired property, plant and equipment
—

 
—

 
190

Interest expense
9,106

 
9,202

 
7,963

Non-operating income, net
(2,893
)
 
(3,823
)
 
(3,348
)
Income before taxes and equity in net gains (losses) of equity method investments
$
44,585

 
$
70,120

 
$
57,756


Information by Product Line
The Company operates exclusively in the semiconductor industry and primarily within the analog and mixed-signal sector.
The table below provides net sales activity by product line on a comparative basis:
 
Fiscal Year Ended
(in thousands, except percentages)
January 26, 2020
 
January 27, 2019
 
January 28, 2018
Signal Integrity
$
222,846

 
40
%
 
$
276,040

 
44
 %
 
$
263,015

 
45
 %
Wireless and Sensing
167,454

 
31
%
 
190,589

 
30
 %
 
164,569

 
28
 %
Protection
157,212

 
29
%
 
182,068

 
29
 %
 
176,482

 
30
 %
Other: Warrant Shares (1)
—

 
—
%
 
(21,501
)
 
(3
)%
 
(16,219
)
 
(3
)%
Total net sales
$
547,512

  
100
%
 
$
627,196

  
100
 %
 
$
587,847

  
100
 %

(1) For fiscal years 2019 and 2018, the net sales offset reflects the cost associated with the Warrant (see Note 11 for discussion regarding Share-Based Compensation).
Information by Sales Channel
 
Fiscal Year Ended
(in thousands)
January 26, 2020
 
January 27, 2019
 
January 28, 2018
Distributor
$
392,582

 
$
442,518

 
$
390,618

Direct
154,930

 
206,179

 
213,448

Other: Warrant Shares
—

 
(21,501
)
 
(16,219
)
Total net sales
$
547,512

 
$
627,196

 
$
587,847


Geographic Information
Net sales activity by geographic region was as follows:
 
Fiscal Year Ended
(in thousands, except percentages)
January 26, 2020
 
January 27, 2019
 
January 28, 2018
Asia-Pacific
$
421,584

 
77
%
 
$
480,680

 
76
 %
 
$
439,342

 
75
 %
North America
76,652

 
14
%
 
118,664

 
19
 %
 
121,144

 
21
 %
Europe
49,276

 
9
%
 
49,353

 
8
 %
 
43,580

 
7
 %
Other: Warrant Shares
—

 
—
%
 
(21,501
)
 
(3
)%
 
(16,219
)
 
(3
)%
Total net sales
$
547,512

 
100
%
 
$
627,196

 
100
 %
 
$
587,847

 
100
 %

The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total sales for at least one of the periods presented:
 
Fiscal Year Ended
(percentage of total net sales)
January 26, 2020
 
January 27, 2019
 
January 28, 2018
China (including Hong Kong)
53
%
 
55
%
 
51
%
United States
9
%
 
11
%
 
9
%
Total net sales
62
%
 
66
%
 
60
%

Long-lived Assets
The following table summarizes the Company's long-lived assets, which consist of property, plant and equipment, net of accumulated depreciation, classified by location:
 
Fiscal Year Ended
(in thousands)
January 26, 2020
 
January 27, 2019
United States
$
54,357

  
$
46,285

Rest of North America
32,559

 
34,493

Asia and all others
26,133

  
28,871

Europe
11,369

 
8,839

Total
$
124,418

 
$
118,488


Some of these assets are at locations owned or operated by the Company’s suppliers. The Company has consigned certain equipment to a foundry based in China to support its specialized processes run at the foundry. The Company has also installed its own equipment at some of its packaging and testing subcontractors in order to ensure a certain level of capacity, assuming the subcontractor has ample employees to operate the equipment.
The net book value of equipment and machinery that were consigned to multiple foundries in China was $18.5 million and $17.4 million as of January 26, 2020 and January 27, 2019, respectively. The net book value of equipment and machinery that were consigned to a foundry in Malaysia was $5.5 million and $5.6 million as of January 26, 2020 and January 27, 2019, respectively.