Segment Information

12 Months Ended

Jan. 03, 2022

Segment Reporting [Abstract]

Segment Information

(17) Segment Information

The reportable segments shown below are the Company’s segments for which separate financial information is available and upon which operating results are evaluated by the chief operating decision maker to assess performance and to allocate resources. On April 29, 2020, the Company announced the restructuring of its E-M Solutions business unit. In prior periods, the Company’s E-M Solutions business unit consisted of three Chinese manufacturing facilities with two being in Shanghai (SH BPA and SH E-MS) and one in Shenzhen (SZ). The Company closed the SH E-MS and SZ facilities at the end of 2020 and integrated the SH BPA facility into its PCB operations. As of March 29, 2021, E-M Solutions no longer met the criteria for segment reporting. As a result of the restructuring of the E-M Solutions business unit, certain prior year amounts have been reclassified to conform to this new presentation. See Note 20 for further details. The PCB reportable segment consists of fifteen domestic PCB and sub-system plants; six PCB fabrication plants in China; and one in Canada. The RF&S Components reportable segment consists of one domestic RF component plant and one RF component plant in China.

The Company, including the chief operating decision maker, evaluates segment performance based on reportable segment income, which is operating income before amortization of intangibles. Interest expense and interest income are not presented by segment since they are not included in the measure of segment profitability reviewed by the chief operating decision maker. All inter-segment transactions have been eliminated.

	For the Year Ended
	January 3, 2022			December 28, 2020			December 30, 2019
	(In thousands)
Net Sales:
PCB	$	2,186,901		$	1,980,918		$	1,909,628
RF&S Components		58,583			44,656			62,315
Other (1)		3,256			79,748			161,267
Total net sales	$	2,248,740		$	2,105,322		$	2,133,210
Operating Segment Income:
PCB	$	262,442		$	266,319		$	235,455
RF&S Components		22,035			(56,671	)		29,376
Corporate and Other (1)		(117,097	)		(137,183	)		(104,604	)
Total operating segment income		167,380			72,465			160,227
Amortization of definite-lived intangibles (2)		(41,389	)		(44,373	)		(50,598	)
Total operating income		125,991			28,092			109,629
Total other expense, net		(55,938	)		(74,369	)		(75,303	)
Income (loss) before income taxes	$	70,053		$	(46,277	)	$	34,326

	For the Year Ended
	January 3, 2022		December 28, 2020		December 30, 2019
	(In thousands)
Depreciation Expense:
PCB	$	76,380	$	79,737	$	80,635
RF&S Components		1,671		1,742		1,720
Corporate and Other (1)		7,891		18,093		11,015
Total depreciation expense	$	85,942	$	99,572	$	93,370
Capital Expenditures:
PCB	$	74,028	$	64,895	$	103,851
RF&S Components		1,604		1,514		3,683
Corporate and Other (1)		6,735		5,916		9,872
Total capital expenditures	$	82,367	$	72,325	$	117,406

	As of
	January 3, 2022		December 28, 2020
	(In thousands)
Segment Assets:
PCB	$	1,655,401	$	1,528,925
RF&S Components		216,737		227,990
Corporate and Other (1)		1,153,409		1,139,029
Total assets	$	3,025,547	$	2,895,944

(1) Other represents results from the now closed SH E-MS and SZ facilities.

(2) Amortization of definite-lived intangibles primarily relates to the PCB and RF&S Components reportable segments. For the years ended January 3, 2022, December 28, 2020 and December 30, 2019, $5,641, $5,535 and $4,822, respectively, of amortization expense is included in cost of goods sold.

The Corporate category primarily includes operating expenses that are not included in the segment operating performance measures. Corporate consists primarily of corporate governance functions such as finance, accounting, information technology and human resources personnel, as well as global sales and marketing personnel, research and development costs, and acquisition and integration costs associated with acquisitions and divestitures of $1,002, $273 and $6,902 for the years ended January 3, 2022, December 28, 2020 and December 30, 2019, respectively, are included in Corporate.

The Company markets and sells its products in approximately 52 countries. Other than in the United States and China, the Company does not conduct business in any country in which its net sales in that country exceed 10% of the Company’s total net sales. Net sales and long-lived assets are as follows:

	2021				2020				2019
	Net Sales		Long-Lived Assets		Net Sales		Long-Lived Assets		Net Sales		Long-Lived Assets
	(In thousands)
United States	$	1,049,590	$	1,131,663	$	1,086,440	$	1,154,218	$	1,118,725	$	1,348,741
China		327,435		382,580		334,462		387,627		341,779		335,191
Other		871,715		28,754		684,420		27,221		672,706		26,473
Total	$	2,248,740	$	1,542,997	$	2,105,322	$	1,569,066	$	2,133,210	$	1,710,405

Net sales are attributed to countries by country invoiced.