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Revenue and Segment Information
 3 Months Ended
Apr. 01, 2022
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. These segments represent the Company’s view of the business, and its gross profit is used to evaluate the performance of the Company’s segments, the progress of major initiatives and the allocation of resources. Gross profit is exclusive of the amortization of acquisition-related intangible assets.

During the quarter ended April 1, 2022, the Company received capacity payments and deposits of $5.5 million, which was recorded as a contract liability, of which an immaterial amount was recognized as revenue for satisfying the associated performance obligations. The remaining balances amounting to $27.6 million and $28.9 million were recorded as current liabilities and other long-term liabilities, respectively. Contract assets were immaterial as of April 1, 2022. There were no corresponding amounts for the quarter ended April 2, 2021.

A significant portion of the Company’s orders are firm commitments that are non-cancellable, including certain orders or contracts with a duration of less than one year. Certain of the Company's customer contracts are multi-year agreements that include firmly committed amounts for which the remaining performance obligations as of April 1, 2022 were approximately $8.6 billion (excluding the remaining performance obligations for contracts having a duration of one year or less). The Company expects to recognize approximately 30% of this amount as revenue during the next twelve months upon shipment of products under these contracts. Total sales estimates are based on negotiated contract prices and demand quantities, and could be influenced by manufacturing and supply chain constraints, among other things. Accordingly, the amount represented by remaining performance obligations may not be indicative of the actual revenue recognized for future periods.

Revenue and gross profit for the Company’s operating and reportable segments are as follows (in millions):
PSGASGISGTotal
For the quarter ended April 1, 2022:
Revenue from external customers$986.7 $689.3 $269.0 $1,945.0 
Gross profit$474.7 $366.7 $119.9 $961.3 
For the quarter ended April 2, 2021:
Revenue from external customers$747.0 $531.5 $203.2 $1,481.7 
Gross profit$246.5 $206.8 $67.9 $521.2 

The Company had one customer, a distributor, whose revenue accounted for approximately 12.4% and 10.6% of the Company's total revenue for the quarters ended April 1, 2022 and April 2, 2021, respectively.

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 1, 2022
PSGASGISGTotal
Geographic Location
Singapore$280.5 $233.8 $41.4 $555.7 
Hong Kong303.1 173.9 52.6 529.6 
United Kingdom186.9 106.6 52.0 345.5 
United States144.9 92.3 74.5 311.7 
Other71.3 82.7 48.5 202.5 
Total$986.7 $689.3 $269.0 $1,945.0 
Sales Channel
Distributors$633.9 $356.9 $150.6 $1,141.4 
Direct Customers352.8 332.4 118.4 803.6 
Total$986.7 $689.3 $269.0 $1,945.0 
Quarter Ended April 2, 2021
PSGASGISGTotal
Geographic Location
Singapore$274.5 $201.7 $32.8 $509.0 
Hong Kong196.1 100.5 45.6 342.2 
United Kingdom142.7 82.6 43.6 268.9 
United States75.3 70.2 38.8 184.3 
Other58.4 76.5 42.4 177.3 
Total$747.0 $531.5 $203.2 $1,481.7 
Sales Channel
Distributors$523.9 $288.9 $121.2 $934.0 
Direct Customers223.1 242.6 82.0 547.7 
Total$747.0 $531.5 $203.2 $1,481.7 

The Company operates in various geographic locations. Sales to external 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 1, 2022December 31, 2021
United States$752.4 $767.1 
South Korea573.0 492.8 
Philippines330.7 342.4 
Czech Republic220.7 214.2 
China214.0 216.8 
Japan188.1 198.6 
Malaysia172.8 175.3 
Other107.7 117.1 
Total$2,559.4 $2,524.3