Reportable Segments (Tables)

9 Months Ended

Sep. 27, 2020

Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing.


	Enterprise Solutions		Industrial Solutions		Total Segments

	(In thousands)
As of and for the three months ended September 27, 2020
Segment revenues	$	229,097	$	246,742	$	475,839
Affiliate revenues	231		10		241
Segment EBITDA	26,250		38,391		64,641
Depreciation expense	5,005		5,450		10,455
Amortization of intangibles	5,408		10,696		16,104
Amortization of software development intangible assets	73		456		529
Severance, restructuring, and acquisition integration costs	1,337		20		1,357


Segment assets	519,142		486,110		1,005,252
As of and for the three months ended September 29, 2019
Segment revenues	$	247,236	$	285,862	$	533,098
Affiliate revenues	753		2		755
Segment EBITDA	35,868		54,849		90,717
Depreciation expense	4,919		5,060		9,979
Amortization of intangibles	6,269		12,757		19,026
Amortization of software development intangible assets	49		36		85
Severance, restructuring, and acquisition integration costs	3,047		—		3,047
Purchase accounting effects of acquisitions	(186)		—		(186)
Segment assets	517,448		501,278		1,018,726
As of and for the nine months ended September 27, 2020
Segment revenues	$	644,684	$	719,492	$	1,364,176
Affiliate revenues	940		30		970
Segment EBITDA	73,193		100,367		173,560
Depreciation expense	15,208		15,861		31,069
Amortization of intangibles	16,266		32,040		48,306
Amortization of software development intangible assets	184		1,061		1,245
Severance, restructuring, and acquisition integration costs	6,310		3,138		9,448
Purchase accounting effects of acquisitions	125		—		125
Segment assets	519,142		486,110		1,005,252
As of and for the nine months ended September 29, 2019
Segment revenues	$	699,644	$	881,946	$	1,581,590
Affiliate revenues	3,190		19		3,209
Segment EBITDA	93,074		165,257		258,331
Depreciation expense	14,576		15,414		29,990
Amortization of intangibles	16,694		39,564		56,258
Amortization of software development intangible assets	120		87		207
Severance, restructuring, and acquisition integration costs	5,566		—		5,566
Purchase accounting effects of acquisitions	532		—		532
Segment assets	517,448		501,278		1,018,726

Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes

The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.


	Three Months Ended				Nine Months Ended
	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019

	(In thousands)
Total Segment and Consolidated Revenues	$	475,839	$	533,098	$	1,364,176	$	1,581,590



Total Segment EBITDA	$	64,641	$	90,717	$	173,560	$	258,331
Amortization of intangibles	(16,104)		(19,026)		(48,306)		(56,258)
Depreciation expense	(10,455)		(9,979)		(31,069)		(29,990)
Severance, restructuring, and acquisition integration costs (1)	(1,357)		(3,047)		(9,448)		(5,566)
Amortization of software development intangible assets	(529)		(85)		(1,245)		(207)
Purchase accounting effects related to acquisitions (2)	—		186		(125)		(532)
Eliminations	(69)		(1,224)		(402)		(1,971)
Consolidated operating income	36,127		57,542		82,965		163,807
Interest expense, net	(15,607)		(14,002)		(43,188)		(41,951)
Total non-operating pension benefit	680		544		2,079		1,684
Consolidated income from continuing operations before taxes	$	21,200	$	44,084	$	41,856	$	123,540

(1) See Note 11, Severance, Restructuring, and Acquisition Integration Activities, for details.

(2) During the nine months ended September 27, 2020, we recognized cost of sales related to purchase accounting adjustments of acquired inventory to fair value for the SPC acquisition. For the three and nine months ended September 29, 2019, we recognized cost of sales for the adjustment of acquired inventory to fair value related to the Opterna and FutureLink acquisitions.