Segment and Other Information (Tables)

9 Months Ended

May 27, 2022

Schedule of Segment Reporting Information

Segments are determined based on sources of revenue, types of customers and operating performance. There are no differences between the accounting policies for our segment reporting and our consolidated results of operations. Operating expenses directly associated with the activities of a specific segment are charged to that segment. Certain other

indirect operating income and expenses are generally allocated to segments based on their respective percentage of net sales. We do not allocate interest, other non-operating (income) expense or taxes to segments.


	Three Months Ended				Nine Months Ended
	May 27, 2022		May 28, 2021		May 27, 2022		May 28, 2021
Net sales:
Memory Solutions	$	265,850	$	240,116	$	765,332	$	684,537
Intelligent Platform Solutions	95,345		95,857		296,256		247,141
LED Solutions	101,345		101,755		320,067		101,755
Total net sales	$	462,540	$	437,728	$	1,381,655	$	1,033,433

Segment operating income:
Memory Solutions	$	30,094	$	26,163	$	99,260	$	65,262
Intelligent Platform Solutions	10,790		5,756		32,672		17,559
LED Solutions	13,388		11,386		48,925		11,386
Total segment operating income	54,272		43,305		180,857		94,207

Unallocated:
Share-based compensation expense	(10,547)		(8,381)		(30,295)		(24,867)
Amortization of acquisition-related intangibles	(5,943)		(6,184)		(18,115)		(13,011)
Flow through of inventory step up	—		(7,090)		—		(7,090)
Change in fair value of contingent consideration	(124)		(16,400)		(41,324)		(16,400)
Out of period import tax expense (1)	—		—		—		(4,345)
Other	(2,349)		(2,356)		(4,215)		(5,037)
Total unallocated	(18,963)		(40,411)		(93,949)		(70,750)
Consolidated operating income	$	35,309	$	2,894	$	86,908	$	23,457


(1)			During the second quarter of 2021, we recorded an out-of-period adjustment to correct errors originating in previous periods related to understated import tax costs, which resulted in a $4.3 million increase in cost of sales, $0.8 million increase in interest expense and $1.7 million benefit for income taxes. The adjustment was not considered material to the interim or annual consolidated financial statements for the year ended August 27, 2021 nor to any previously issued interim or annual consolidated financial statements.