Note 11 Business Segment, Geographic and Customer Information

3 Months Ended

Jan. 02, 2021

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Business Segment, Geographic and Customer Information

ASC Topic 280, Segment Reporting, establishes standards for reporting information about operating segments, products and services, geographic areas of operations and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance.

The Company's operations are managed as two businesses: IMS and CPS. The Company's CPS business consists of multiple operating segments which do not meet the quantitative threshold for being presented individually as reportable segments. Therefore, financial information for these operating segments is presented in a single category entitled "CPS" and the Company has only one reportable segment - IMS.

The following table presents revenue and a measure of segment gross profit used by management to allocate resources and assess performance of operating segments:

	Three Months Ended
	January 2, 2021		December 28, 2019
	(In thousands)
Gross sales:
IMS	$	1,462,100	$	1,543,935
CPS	319,416		336,431
Intersegment revenue	(26,267)		(40,195)
Net sales	$	1,755,249	$	1,840,171
Gross profit:
IMS	$	106,566	$	101,182
CPS	39,638		36,612
Total	146,204		137,794
Unallocated items (1)	(4,969)		(2,912)
Total	$	141,235	$	134,882

(1)    For purposes of evaluating segment performance, management excludes certain items from its measure of gross profit. These items consist of stock-based compensation expense, charges or credits resulting from distressed customers and litigation settlements.

Net sales by geographic segment, determined based on the country in which a product is manufactured, were as

follows:

	Three Months Ended
	January 2, 2021		December 28, 2019
	(In thousands)
Net sales:
Americas (1)	$	831,822	$	906,568
EMEA	259,292		261,031
APAC	664,135		672,572
Total	$	1,755,249	$	1,840,171

(1)    Mexico represents approximately 60% of the Americas revenue and the U.S. represents approximately 35%.

Percentage of net sales represented by ten largest customers	58	%	55	%
Number of customers representing 10% or more of net sales	1		2