Segment Information

12 Months Ended

Dec. 29, 2019

SEGMENT INFORMATION

The Company has determined that it has three operating segments – namely, the Americas, Europe and Asia-Pacific geographic regions. The Company has aggregated the three operating segments into one reporting segment because they have similar economic characteristics, and the operating segments are similar in all of the following areas: (a) the nature of the products and services; (b) the nature of the production processes; (c) the type or class of customer for their products and services; (d) the methods used to distribute their products or provide their services; and (e) the nature of the regulatory environment. Nora results are included in the 2018 figures as of the date of acquisition through the end of 2018, and are included in our operating segments based on the geographic split of the operations.

While the Company operates as one reporting segment for the reasons discussed, included below is selected information on our operating segments.

Summary information by operating segment follows:



	AMERICAS		EUROPE		ASIA- PACIFIC		TOTAL
	(in thousands)
2019
Net Sales	$	757,112	$	393,194	$	192,723	$	1,343,029
Depreciation and amortization	12,917		18,452		8,302		39,671
Total assets	728,683		618,375		200,251		1,547,309

2018
Net Sales	$	682,261	$	319,677	$	177,635	$	1,179,573
Depreciation and amortization	13,732		12,862		8,567		35,161
Total assets	482,510		546,758		200,684		1,229,952

2017
Net Sales	$	588,052	$	246,399	$	161,992	$	996,443
Depreciation and amortization	13,548		6,049		8,662		28,259

A reconciliation of the Company’s total operating segment depreciation and amortization, and assets to the corresponding consolidated amounts follows:



	FISCAL YEAR ENDED
	2019			2018			2017
	(in thousands)
DEPRECIATION AND AMORTIZATION
Total segment depreciation and amortization	$	39,671		$	35,161		$	28,259
Corporate depreciation and amortization	5,261			3,923			2,002

Reported depreciation and amortization	$	44,932		$	39,084		$	30,261


ASSETS
Total segment assets	$	1,547,309		$	1,229,952
Corporate assets	141,942			123,100
Eliminations	(266,202		)	(68,408		)

Reported total assets	$	1,423,049		$	1,284,644

The Company has a large and diverse customer base, which includes numerous customers located in foreign countries. No single unaffiliated customer accounted for more than 10% of total sales in any year during the past three years. Sales to customers in foreign markets in 2019, 2018 and 2017 were approximately 49%, 49% and 48%, respectively, of total net sales. These sales were primarily to customers in Europe, Canada, Asia, Australia and Latin America. With the exception of the United States, no one country represented more than 10% of the Company’s net sales. Revenue and long-lived assets related to operations in the United States and other countries are as follows:



	FISCAL YEAR
	2019		2018		2017
	(in thousands)
SALES TO UNAFFILIATED CUSTOMERS⁽¹⁾
United States	$	681,868	$	600,093	$	514,783
Foreign countries	661,161		579,480		481,660

Net sales	$	1,343,029	$	1,179,573	$	996,443

LONG-LIVED ASSETS⁽²⁾
United States	$	132,390	$	88,336
Foreign countries	192,195		204,552

Total long-lived assets	$	324,585	$	292,888

(1)Revenue attributed to geographic areas is based on the location of the customer.

(2)Long-lived assets include tangible assets physically located in foreign countries.