Revenue and Segment Information

3 Months Ended

Apr. 03, 2020

Segment Reporting [Abstract]

Revenue and Segment Information

Note 2: Revenue and Segment Information

The Company is organized into three operating and reportable segments consisting of PSG, ASG and ISG. Because many products are sold into different end-markets, the total revenue reported for a segment is not indicative of actual sales in the end-market associated with that segment, but rather is the sum of the revenue from the product lines assigned to that segment. These segments represent the Company’s view of the business and its gross profit is used to evaluate progress of major initiatives and allocation of resources.

Revenue and gross profit for the Company’s operating and reportable segments are as follows (in millions):

	PSG		ASG		ISG		Total
For the quarter ended April 3, 2020:
Revenue from external customers	$	623.9	$	467.1	$	186.9	$	1,277.9
Gross profit	$	178.6	$	174.8	$	62.8	$	416.2
For the quarter ended March 29, 2019:
Revenue from external customers	$	704.2	$	494.1	$	188.3	$	1,386.6
Gross profit	$	249.0	$	200.1	$	74.9	$	524.0

Gross profit is exclusive of the amortization of acquisition-related intangible assets. Depreciation expense is included in segment gross profit. Reconciliation of segment gross profit to consolidated gross profit is provided below (in millions):

	Quarters Ended
	April 3, 2020		March 29, 2019
Gross profit for reportable segments	$	416.2	$	524.0
Less: Unallocated manufacturing costs	(13.5)		(10.3)
Consolidated gross profit	$	402.7	$	513.7

Revenue for the Company's operating and reportable segments disaggregated into geographic locations based on sales billed from the respective country and sales channels are as follows (in millions):

	Quarter Ended April 3, 2020
	PSG		ASG		ISG		Total
Geographic Location
Singapore	$	194.3	$	172.6	$	41.4	$	408.3
Hong Kong	192.0		91.9		32.3		316.2
United Kingdom	105.1		76.8		45.1		227.0
United States	72.7		77.3		34.5		184.5
Other	59.8		48.5		33.6		141.9
Total	$	623.9	$	467.1	$	186.9	$	1,277.9
Sales Channel
Distributors	$	386.3	$	213.6	$	103.4	$	703.3
OEM/ODM	194.2		219.4		73.5		487.1
Electronic Manufacturing Service Providers	43.4		34.1		10.0		87.5
Total	$	623.9	$	467.1	$	186.9	$	1,277.9

	Quarter Ended March 29, 2019
	PSG		ASG		ISG		Total
Geographic Location
Singapore	$	225.0	$	153.0	$	47.2	$	425.2
Hong Kong	200.6		112.0		25.4		338.0
United Kingdom	125.8		79.5		41.6		246.9
United States	88.9		92.6		32.1		213.6
Other	63.9		57.0		42.0		162.9
Total	$	704.2	$	494.1	$	188.3	$	1,386.6
Sales Channel
Distributors	$	423.7	$	234.8	$	106.3	$	764.8
OEM	236.2		221.1		71.5		528.8
Electronic Manufacturing Service Providers	44.3		38.2		10.5		93.0
Total	$	704.2	$	494.1	$	188.3	$	1,386.6

The Company operates in various geographic locations. Sales to unaffiliated customers have little correlation with the location of manufacturers. It is, therefore, not meaningful to present operating profit by geographical location.

The Company does not discretely allocate assets to its operating segments, nor does management evaluate operating segments using discrete asset information. The Company’s consolidated assets are not specifically ascribed to its individual reportable segments. Rather, assets used in operations are generally shared across the Company’s operating and reportable segments.

Property, plant and equipment, net by geographic location, is summarized as follows (in millions):

	As of
	April 3, 2020		December 31, 2019
United States	$	633.3	$	616.7
South Korea	487.4		485.4
Philippines	426.4		433.5
China	238.1		243.6
Japan	216.3		218.1
Czech Republic	213.8		213.4
Malaysia	195.4		204.4
Other	169.2		176.5
Total	$	2,579.9	$	2,591.6