Reportable Segments

6 Months Ended

Apr. 03, 2021

Segment Reporting [Abstract]

Reportable Segments

Reportable Segments

Reportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in assessing performance and allocating resources. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company’s resources on a regional basis. Net sales for the segments are attributed to the region in which the product is manufactured or the service is performed. The Company operates in the Americas ("AMER"), Asia-Pacific ("APAC") and Europe, Middle East, and Africa ("EMEA"). The services provided, manufacturing processes used, class of customers serviced and order fulfillment processes used are similar and generally interchangeable across the segments. A segment’s performance is evaluated based upon its operating income (loss). A segment’s operating income (loss) includes its net sales less cost of sales and selling and administrative expenses, but excludes corporate and other expenses. Corporate and other expenses primarily represent corporate selling and administrative expenses, restructuring and impairment charges and other charges, if any. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally recorded at amounts that approximate arm’s length transactions. The accounting policies for the segments are the same as for the Company taken as a whole.

Information about the Company’s three reportable segments for the three and six months ended April 3, 2021 and April 4, 2020, respectively, is as follows (in thousands):

	Three Months Ended				Six Months Ended
	April 3, 2021		April 4, 2020		April 3, 2021		April 4, 2020
Net sales:
AMER	$	364,697	$	334,454	$	692,264	$	687,930
APAC	458,872		387,845		910,174		838,987
EMEA	83,322		74,003		162,045		158,480
Elimination of inter-segment sales	(26,006)		(28,938)		(53,243)		(65,624)
	$	880,885	$	767,364	$	1,711,240	$	1,619,773
Operating income (loss):
AMER	$	26,203	$	289	$	42,685	$	12,586
APAC	58,112		49,874		119,654		112,252
EMEA	(1,618)		(544)		(2,606)		(858)
Corporate and other expenses	(32,010)		(32,410)		(62,180)		(66,837)
	$	50,687	$	17,209	$	97,553	$	57,143
Other income (expense):
Interest expense	$	(3,818)	$	(3,814)	$	(7,904)	$	(7,946)
Interest income	390		533		764		1,178
Miscellaneous, net	(825)		154		(2,343)		(2,019)
Income before income taxes	$	46,434	$	14,082	$	88,070	$	48,356

	April 3, 2021		October 3, 2020
Total assets:
AMER	$	773,337	$	759,030
APAC	1,085,492		1,073,951
EMEA	271,193		279,757
Corporate and eliminations	106,781		177,110
	$	2,236,803	$	2,289,848