Segment Information

12 Months Ended

Jan. 29, 2017

Segment Reporting [Abstract]

Segment Information

Segment Information

Segment Information

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

The Company had five operating segments that existed prior to the third quarter of fiscal year 2017 and currently has four. TheCompany’s CEO functions as the CODM. The Company’s CODM makes operating decisions and assesses performance based on these operating segments. The four operating segments: Protection Products Group, Power and High-Reliability Products Group, Signal Integrity Products Group, and Wireless and Sensing 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."

On August 5, 2016, the Company completed its divestiture of its Snowbush IP business, and the Company no longer has a Systems Innovation Group or an "All others" category, which used to be a separate operating segment.

The Company’s assets are commingled among the various operating segments 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 29, 2017		January 31, 2016		January 25, 2015
Semiconductor Products Group	$	544,067	$	485,570	$	555,399
All others	205		4,649		2,486
Total	$	544,272	$	490,219	$	557,885

Income by segment and reconciliation to consolidated operating income:

	Fiscal Year Ended
(in thousands)	January 29, 2017			January 31, 2016			January 25, 2015
Semiconductor Products Group	$	126,271		$	83,422		$	136,823
All others	23,406			(3,670		)	(10,558		)
Operating income by segment	149,677			79,752			126,265
Items to reconcile segment operating income to consolidated income before taxes
Intangible amortization and impairments	25,301			25,059			31,449
Share-based compensation	30,828			20,468			29,629
Restructuring charges	2,282			4,526			1,285
Changes in the fair value of contingent earn-out obligations	(215		)	(16,362		)	1,391
Environmental and other reserves	897			2,855			(65		)
Other non-segment related expenses	4,276			11,686			1,984
Amortization of fair value adjustments related to acquired PP&E	2,227			1,521			18,335
Interest expense, net	9,300			7,819			5,927
Non-operating expense (income), net	1,721			1,801			(165		)
Income before taxes	$	73,060		$	20,379		$	36,495

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.

	Fiscal Year Ended
(in thousands, except percentages)	January 29, 2017					January 31, 2016				January 25, 2015
Signal Integrity	$	258,824		47	%	$	221,185	46	%	$	219,024	40	%
Protection	149,865			28	%	138,674		28	%	191,341		34	%
Wireless and Sensing	81,657			15	%	70,712		14	%	80,632		14	%
Power and High-Reliability	59,117			11	%	54,999		11	%	64,402		12	%
Systems Innovation	205			—	%	4,649		1	%	2,486		—	%
Other: Warrant Shares	(5,396		)	(1	)%	—		—	%	—		—	%
Total Net Sales	$	544,272		100	%	$	490,219	100	%	$	557,885	100	%

The cost of the Warrant granted is recognized as an offset to net sales over the respective performance period (see Note 11 for discussion regarding Share-Based Compensation).

Geographic Information

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

Sales activity by geographic region is as follows:

	Fiscal Year Ended
(in thousands, except percentages)	January 29, 2017					January 31, 2016				January 25, 2015
Asia-Pacific	$	412,167		76	%	$	358,480	74	%	$	412,514	74	%
Europe	43,378			8	%	85,587		17	%	60,232		11	%
North America	94,123			17	%	46,152		9	%	85,139		15	%
Other: Warrant Shares	(5,396		)	(1	)%	—		—	%	—		—	%
Total Net Sales	$	544,272		100	%	$	490,219	100	%	$	557,885	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 indicated:

	Fiscal Year Ended
(percentage of total net sales)	January 29, 2017		January 31, 2016		January 25, 2015
China (including Hong Kong)	48	%	47	%	38	%
United States	9	%	12	%	12	%
Japan	7	%	8	%	11	%
Total Net Sales	64	%	67	%	61	%

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:

	Fiscal Year Ended
(in thousands)	January 29, 2017		January 31, 2016
United States	$	50,747	$	56,213
Rest of North America	30,435		21,618
Europe	8,821		7,109
Asia and all others	18,907		16,066
Total	$	108,910	$	101,006

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 $5.1 million and $5.5 million as of January 29, 2017 and January 31, 2016, respectively. The net book value of equipment and machinery that are consigned to a foundry in Malaysia is $2.3 million and $1.6 million as of January 29, 2017 and January 31, 2016, respectively.