Segment Information

12 Months Ended

Jan. 25, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

Segment Information

In fiscal year 2015, the Company completed a reassessment of its operations in light of its restructuring efforts (discussed in Note 19) and recent strategic business decisions. Based on this reassessment, the Company identified four operating segments. The Company’s CEO continues to function as the CODM. The Company’s CODM makes operating decisions and assesses performance based on these operating segments. Three of the operating segments: Power and High Reliability Products Group; Protection Products, Signal Integrity Products Group; and Wireless, Sensing and Timing Products Group, all have similar economic characteristics and have been aggregated into one reportable segment identified in the table below as the “Semiconductor Products Group.” The Company concluded that the remaining operating segment, the Systems Innovation Group, could not be aggregated with the other operating segments and did not meet the thresholds for a separate reportable segment as defined by the guidance regarding segment disclosure. Therefore, the Company has classified it as “All others” in the tables below. Historically, the Company was able to include “All others” as part of the Company’s one reportable segment for fiscal years 2014 and 2013. The Company's reportable segment information has been recast for comparison purposes for these prior periods. The Company’s assets are commingled among the various reporting units and the CODM does not use that information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment below.

The table below provides net sales activity by segment:

	Fiscal Year Ended
(in thousands)	January 25, 2015		January 26, 2014		January 27, 2013
Semiconductor Products Group	$	555,399	$	577,312	$	559,729
All others	2,486		17,665		19,098
Total net sales	$	557,885	$	594,977	$	578,827

Income by segment and reconciliation to consolidated income before taxes:

	Fiscal Year Ended
(in thousands)	January 25, 2015			January 26, 2014			January 27, 2013
Semiconductor Products Group operating income	$	136,823		$	141,569		$	133,854
All others operating loss	(10,558		)	(2,744		)	4,995
Operating Income by segment	126,265			138,825			138,849
Items to reconcile segment operating income to consolidated income (loss) before taxes
Intangible amortization and impairments	31,449			190,529			10,248
Stock-based compensation expense	29,629			24,589			24,528
Write-off of deferred financing costs	—			8,773			—
Inventory write-down	—			2,408			39,406
Restructuring charges	1,285			3,086			—
Other non-segment related expenses	3,310			1,522			29,382
Amortization of fair value adjustments related to acquired PP&E	18,335			16,835			19,696
Interest expense, net	5,927			18,174			14,363
Non-operating (income) expense, net	(165		)	1,390			977
Income (loss) before taxes	$	36,495		$	(128,481	)	$	249

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 for all periods. In December 2013, the Company announced that it was combining its Gennum and former Advanced Communication product groups. The combined net sales activity for these groups is reflected in the Signal Integrity product group.

	Fiscal Year Ended
(in thousands, except percentages)	January 25, 2015				January 26, 2014				January 27, 2013
Protection, Power and High-Reliability	$	255,743	47	%	$	256,808	43	%	$	265,293	46	%
Signal Integrity	219,024		39	%	254,589		43	%	228,882		40	%
Wireless, Sensing and Timing	80,632		14	%	65,947		11	%	65,598		11	%
Systems Innovation	2,486		—	%	17,633		3	%	19,054		3	%
Total net sales	$	557,885	100	%	$	594,977	100	%	$	578,827	100	%

Geographic Information

The Company generates virtually all of its sales from its Semiconductor Products Group through sales of analog and mixed signal devices.

Net sales activity by geographic region is as follows:

	Fiscal Year Ended
(in thousands, except percentages)	January 25, 2015				January 26, 2014				January 27, 2013
Asia-Pacific	$	412,514	74	%	$	432,097	73	%	$	405,179	70	%
North America	85,139		15	%	94,574		16	%	98,401		17	%
Europe	60,232		11	%	68,306		11	%	75,247		13	%
Total net sales	$	557,885	100	%	$	594,977	100	%	$	578,827	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 net sales for at least one of the periods indicated:

	Fiscal Year Ended
(percentage of total sales)	January 25, 2015		January 26, 2014		January 27, 2013
China (including Hong Kong)	38	%	34	%	35	%
United States	12	%	16	%	17	%
Japan	11	%	11	%	10	%
South Korea	9	%	11	%	7	%
Total net sales	70	%	72	%	69	%

The Company’s regional (loss) income from continuing operations before income taxes is as follows:

	Fiscal Year Ended
(in thousands)	January 25, 2015			January 26, 2014			January 27, 2013
Domestic	$	(33,540	)	$	(158,780	)	$	(19,867	)
Foreign	70,035			30,299			20,116
Total	$	36,495		$	(128,481	)	$	249

Domestic (loss) from continuing operations includes impairments in fiscal year 2015 and 2014, amortization of acquired intangible assets, litigation related expenses and higher levels of stock-based compensation compared to foreign operations.

Long-lived Assets

Long-lived assets, which consist of property, plant and equipment, net of accumulated depreciation and classified by location are summarized as follows:

(in thousands)	January 25, 2015		January 26, 2014
United States	$	63,449	$	55,303
Rest of North America	25,139		28,577
Europe	9,119		14,900
Asia and all others	17,764		11,341
Total	$	115,471	$	110,121

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 amount of equipment and machinery consigned to a foundry in China was $7.6 million and $8.1 million as of January 25, 2015 and January 26, 2014, respectively.