Segment Information

12 Months Ended

Jan. 31, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

Segment Information

See Note 1 regarding recent developments affecting the Company's operating segments.

The Company has five operating segments in total. 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. Four of the operating segments: Protection Products; Power and High-Reliability Products; Signal Integrity Products; and Wireless and Sensing Products, all have similar economic characteristics and have been aggregated into one reportable segment identified in the table below as the “Semiconductor Products Group.” The remaining operating segment, the Systems Innovation Group, cannot be aggregated with the other operating segments and does 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. 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.

Net sales by segment are as follows:

	Fiscal Year Ended
(in thousands)	January 31, 2016		January 25, 2015		January 26, 2014
Semiconductor Products Group	$	485,570	$	555,399	$	577,312
All others	4,649		2,486		17,665
Total	$	490,219	$	557,885	$	594,977

Income by segment and reconciliation to consolidated operating income:

	Fiscal Year Ended
(in thousands)	January 31, 2016			January 25, 2015			January 26, 2014
Semiconductor Products Group	$	83,422		$	136,823		$	141,569
All others	(3,670		)	(10,558		)	(2,744		)
Operating Income by segment	79,752			126,265			138,825
Items to reconcile segment operating income to consolidated income before taxes
Intangible amortization and impairments	25,059			31,449			190,529
Stock-based compensation expense	20,468			29,629			24,589
Write-off of deferred financing costs	—			—			8,773
Inventory write-down	—			—			2,408
Restructuring charges	4,526			1,285			3,086
Changes in the fair value of contingent earn-out obligations	(16,362		)	1,391			(654		)
Environmental reserve	2,855			(65		)	—
Other non-segment related expenses	11,686			1,984			2,176
Amortization of fair value adjustments related to acquired PP&E	1,521			18,335			16,835
Interest expense, net	7,819			5,927			18,174
Non-operating (income) expense, net	1,801			(165		)	1,390
Income before taxes	$	20,379		$	36,495		$	(128,481	)

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 31, 2016				January 25, 2015				January 26, 2014
Signal Integrity	$	221,185	45	%	$	219,024	39	%	$	254,556	43	%
Protection	138,674		28	%	191,341		34	%	198,514		33	%
Wireless and Sensing	70,712		14	%	80,632		14	%	65,947		11	%
Power and High-Reliability	54,999		11	%	64,402		12	%	58,295		10	%
Systems Innovation	4,649		1	%	2,486		—	%	17,665		3	%
Total net sales	$	490,219	100	%	$	557,885	100	%	$	594,977	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 31, 2016				January 25, 2015				January 26, 2014
Asia-Pacific	$	358,480	73	%	$	412,514	74	%	$	432,097	73	%
Europe	85,587		17	%	60,232		11	%	68,306		11	%
North America	46,152		9	%	85,139		15	%	94,574		16	%
Total net sales	$	490,219	100	%	$	557,885	100	%	$	594,977	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 31, 2016		January 25, 2015		January 26, 2014
China (including Hong Kong)	47	%	38	%	34	%
United States	12	%	12	%	16	%
Japan	8	%	11	%	11	%
South Korea	6	%	9	%	11	%
Total net sales	73	%	70	%	72	%

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

	Fiscal Year Ended
(in thousands)	January 31, 2016			January 25, 2015			January 26, 2014
Domestic	$	(5,636	)	$	(33,540	)	$	(158,780	)
Foreign	26,015			70,035			30,299
Total	$	20,379		$	36,495		$	(128,481	)

Domestic (loss) from continuing operations includes impairments in fiscal years 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 31, 2016		January 25, 2015
United States	$	56,212	$	63,449
Rest of North America	21,618		25,139
Europe	7,109		9,119
Asia and all others	16,066		17,764
Total	$	101,005	$	115,471

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 are consigned to multiple foundries in China is $5.5 million and $7.6 million as of January 31, 2016 and January 25, 2015, respectively. The net book value of equipment and machinery that are consigned to a foundry in Malaysia is $1.6 million and $2.3 million as of January 31, 2016 and January 25, 2015, respectively.