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. The Company’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 previously existed as 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 28, 2018		January 29, 2017		January 31, 2016
Semiconductor Products Group	$	587,847	$	544,067	$	485,570
All others	—		205		4,649
Total	$	587,847	$	544,272	$	490,219

Income by segment and reconciliation to consolidated operating income:



	Fiscal Year Ended
(in thousands)	January 28, 2018		January 29, 2017			January 31, 2016
Semiconductor Products Group	$	160,810	$	126,271		$	83,422
All others	—		23,406			(3,670		)
Operating income by segment	160,810		149,677			79,752
Items to reconcile segment operating income to consolidated income before taxes
Share-based compensation	47,936		30,828			20,468
Intangible amortization	27,867		25,301			25,059
Changes in the fair value of contingent earn-out obligations	3,892		(215		)	(16,362		)
Other non-segment related expenses	12,189		7,455			19,067
Amortization of fair value adjustments related to acquired property, plant and equipment	190		2,227			1,521
Interest expense, net	7,963		9,300			7,819
Non-operating expense, net	902		1,721			1,801
Income before taxes	$	59,871	$	73,060		$	20,379

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 28, 2018					January 29, 2017					January 31, 2016
Signal Integrity	$	263,015		45	%	$	258,824		47	%	$	221,185	46	%
Protection	176,482			30	%	149,865			28	%	138,674		28	%
Wireless and Sensing	117,596			20	%	81,657			15	%	70,712		14	%
Power and High-Reliability	46,973			8	%	59,117			11	%	54,999		11	%
Systems Innovation	—			—	%	205			—	%	4,649		1	%
Other: Warrant Shares	(16,219		)	(3	)%	(5,396		)	(1	)%	—		—	%
Total Net Sales	$	587,847		100	%	$	544,272		100	%	$	490,219	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 28, 2018					January 29, 2017					January 31, 2016
Asia-Pacific	$	439,342		75	%	$	412,167		76	%	$	358,480	74	%
North America	121,144			21	%	94,123			17	%	46,152		9	%
Europe	43,580			7	%	43,378			8	%	85,587		17	%
Other: Warrant Shares	(16,219		)	(3	)%	(5,396		)	(1	)%	—		—	%
Total Net Sales	$	587,847		100	%	$	544,272		100	%	$	490,219	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 28, 2018		January 29, 2017		January 31, 2016
China (including Hong Kong)	51	%	48	%	47	%
United States	9	%	9	%	12	%
Total Net Sales	60	%	57	%	59	%

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 28, 2018		January 29, 2017
United States	$	48,289	$	50,747
Rest of North America	34,941		30,435
Europe	9,752		8,821
Asia and all others	31,624		18,907
Total	$	124,606	$	108,910

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 $15.4 million and $5.1 million as of January 28, 2018 and January 29, 2017, respectively. The net book value of equipment and machinery that are consigned to a foundry in Malaysia is $6.1 million and $2.3 million as of January 28, 2018 and January 29, 2017, respectively.