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Reportable Segments
 6 Months Ended
Jul. 04, 2021
Segment Reporting [Abstract]  
Reportable Segments Reportable Segments
We are organized around two global businesses: Enterprise Solutions and Industrial Solutions. Each of the global businesses represents a reportable segment.
The key measures of segment profit or loss are Segment Revenues and Segment EBITDA. Segment Revenues represent non-affiliate revenues and include revenues that would have otherwise been recorded by acquired businesses as independent entities but were not recognized in our Condensed Consolidated Statements of Operations and Comprehensive Income due to the effects of purchase accounting and the associated write-down of acquired deferred revenue to fair value. Segment EBITDA excludes certain items, including depreciation expense; amortization of intangibles; asset impairment; severance, restructuring, and acquisition integration costs; purchase accounting effects related to acquisitions, such as the adjustment of acquired inventory and deferred revenue to fair value; and other costs. We allocate corporate expenses to the segments for purposes of
measuring Segment EBITDA. Corporate expenses are allocated on the basis of each segment’s relative EBITDA prior to the allocation.
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. Inter-company revenues between our segments is not material.
 
Enterprise SolutionsIndustrial SolutionsTotal Segments
 (In thousands)
As of and for the three months ended July 4, 2021   
Segment revenues$267,528 $335,295 $602,823 
Segment EBITDA35,269 56,731 92,000 
Depreciation expense5,365 6,002 11,367 
Amortization of intangibles4,439 4,663 9,102 
Amortization of software development intangible assets20 587 607 
Severance, restructuring, and acquisition integration costs2,460 580 3,040 
Adjustments related to acquisitions and divestitures(32)1,944 1,912 
Segment assets522,635 625,325 1,147,960 
As of and for the three months ended June 28, 2020   
Segment revenues$203,374 $221,437 $424,811 
Segment EBITDA22,231 26,449 48,680 
Depreciation expense5,122 5,210 10,332 
Amortization of intangibles5,354 10,663 16,017 
Amortization of software development intangible assets56 330 386 
Severance, restructuring, and acquisition integration costs2,423 2,049 4,472 
Adjustments related to acquisitions and divestitures105 — 105 
Segment assets502,767 464,862 967,629 
As of and for the six months ended July 4, 2021   
Segment revenues$493,883 $645,321 $1,139,204 
Segment EBITDA63,375 108,094 171,469 
Depreciation expense10,715 12,212 22,927 
Amortization of intangibles8,775 10,274 19,049 
Amortization of software development intangible assets52 1,244 1,296 
Severance, restructuring, and acquisition integration costs4,375 3,836 8,211 
Adjustments related to acquisitions and divestitures(6,318)8,851 2,533 
Segment assets522,635 625,325 1,147,960 
As of and for the six months ended June 28, 2020   
Segment revenues$415,587 $472,750 $888,337 
Segment EBITDA46,943 61,976 108,919 
Depreciation expense10,203 10,411 20,614 
Amortization of intangibles10,858 21,344 32,202 
Amortization of software development intangible assets111 605 716 
Severance, restructuring, and acquisition integration costs4,973 3,118 8,091 
Adjustments related to acquisitions and divestitures125 — 125 
Segment assets502,767 464,862 967,629 
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 EndedSix Months Ended
 July 4, 2021June 28, 2020July 4, 2021June 28, 2020
 (In thousands)
Total Segment Revenues$602,823 $424,811 $1,139,204 $888,337 
Adjustments related to acquisitions(849)— (849)— 
Consolidated Revenues$601,974 $424,811 $1,138,355 $888,337 
Total Segment EBITDA$92,000 $48,680 $171,469 $108,919 
Amortization of intangibles(9,102)(16,017)(19,049)(32,202)
Depreciation expense(11,367)(10,332)(22,927)(20,614)
Severance, restructuring, and acquisition integration costs (1)(3,040)(4,472)(8,211)(8,091)
Amortization of software development intangible assets(607)(386)(1,296)(716)
Adjustments related to acquisitions and divestitures (2)(1,912)(105)(2,533)(125)
Eliminations(15)(238)(48)(333)
Consolidated operating income65,957 17,130 117,405 46,838 
Interest expense, net(14,878)(14,257)(30,389)(27,581)
Total non-operating pension benefit1,445 700 2,129 1,399 
Consolidated income from continuing operations before taxes $52,524 $3,573 $89,145 $20,656 

(1) See Note 12, Severance, Restructuring, and Acquisition Integration Activities, for details.
(2) During the three months ended July 4, 2021, we collected $0.1 million of receivables associated with the sale of Grass Valley that were previously written off, recognized deferred revenues of $0.8 million for the purchase accounting effect of recording deferred revenue at fair value for the OTN acquisition, and recognized cost of sales of $1.2 million related to purchase accounting adjustments of acquired inventory to fair value for the OTN acquisition. During the six months ended July 4, 2021, we reduced the Opterna earn-out liability by $5.8 million, recognized a $3.6 million impairment on assets held and used, recognized a $3.4 million impairment on assets held for sale, collected $1.5 million of receivables associated with the sale of Grass Valley that were previously written off, recognized cost of sales of $2.0 million related to purchase accounting adjustments of acquired inventory to fair value for the OTN acquisition, and recognized deferred revenues of $0.8 million for the purchase accounting effect of recording deferred revenue at fair value for the OTN acquisition. During the three and six months ended June 28, 2020, we recognized cost of sales related to purchase accounting adjustments of acquired inventory to fair value for the SPC acquisition.