Reportable Segments

3 Months Ended

Dec. 28, 2024

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 CODM 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 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. A segment’s operating income 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, and restructuring costs 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.

In the first quarter of fiscal 2025, the Company changed internal management reporting to focus on value-add sales in each region and adjusted the allocation of certain corporate costs among reportable segments. These changes have been implemented and are consistent with what is provided to the CODM. The Company's composition of operating segments and reportable segments did not change. Net sales and operating income for the three reportable segments for the current period and comparative periods presented have been recast to conform to those changes. These changes had no effect on the Company's consolidated net sales, operating income or net income for the current or comparative periods.

Information about the Company’s three reportable segments for the three months ended December 28, 2024 and December 30, 2023 is as follows (in thousands):

	Three Months Ended
	December 28, 2024		December 30, 2023
Net sales:
AMER	$	273,871	$	309,753
APAC	607,147		552,841
EMEA	101,238		121,277
Elimination of inter-segment sales	(6,134)		(1,264)
	$	976,122	$	982,607
Operating income:
AMER	$	19,121	$	18,950
APAC	87,748		77,132
EMEA	4,504		3,197
Corporate and other costs	(64,513)		(54,121)
	46,860		45,158
Other income (expense):
Interest expense	(3,554)		(7,617)
Interest income	1,234		808
Miscellaneous, net	(1,046)		(3,502)
Income before income taxes	$	43,494	$	34,847