The Company has two reportable business segments: (i) Interconnect Products and Assemblies and (ii) Cable Products and Solutions. The Company organizes its reportable business segments based upon similar economic characteristics and business groupings of products, services, and customers. These reportable business segments are determined based upon how the Company reviews its businesses, assesses operating performance and makes investing and resource allocation decisions. The Interconnect Products and Assemblies segment primarily designs, manufactures and markets a broad range of connector and connector systems, value-add products and other products, including antennas and sensors, used in a broad range of applications in a diverse set of end markets. The Cable Products and Solutions segment primarily designs, manufactures and markets cable, value-add products and components for use primarily in the broadband communications and information technology markets as well as certain applications in other markets. The accounting policies of the segments are the same as those for the Company as a whole and are described in Note 1 herein. The Company evaluates the performance of business units and allocates resources to them based on,

among other things, profit or loss from operations before interest, headquarters’ expense allocations, stock-based compensation expense, income taxes, amortization related to certain intangible assets and nonrecurring gains and losses.

(1)

Corporate / Other is not a reportable business segment, but has been included above for purposes of reconciling between segment data and total consolidated data. The reconciliation of segment operating income and segment assets (excluding goodwill) to consolidated results is included in the tables below.

Reconciliation of segment operating income to consolidated income before income taxes:


	2019		2018		2017
Segment operating income	$	1,762.2	$	1,805.1	$	1,529.4
Stock-based compensation expense		(63.0)		(55.6)		(49.7)
Acquisition-related expenses		(25.4)		(8.5)		(4.0)
Other operating expenses		(54.6)		(54.1)		(48.1)
Interest expense		(117.6)		(101.7)		(92.3)
Loss on early extinguishment of debt		(14.3)		—		—
Other income, net		8.6		3.2		17.1
Income before income taxes	$	1,495.9	$	1,588.4	$	1,352.4

Reconciliation of segment assets to consolidated total assets:


	2019		2018
Segment assets, excluding goodwill	$	5,875.6	$	5,886.7
Goodwill		4,867.1		4,103.2
Other assets		72.8		55.0
Consolidated total assets	$	10,815.5	$	10,044.9

Other assets are comprised primarily of corporate identifiable assets such as cash and cash equivalents.

Net sales by geographic area for the years ended December 31, 2019, 2018 and 2017 and property, plant and equipment, net by geographic area as of December 31 were as follows:


	2019		2018		2017
Net sales
United States	$	2,524.7	$	2,241.4	$	1,978.4
China		2,306.4		2,594.0		2,067.3
Other foreign locations		3,394.3		3,366.6		2,965.6
Total	$	8,225.4	$	8,202.0	$	7,011.3

Long-lived assets⁽¹⁾
United States	$	355.0	$	225.1	$	212.7
China		343.1		273.8		244.7
Other foreign locations		497.6		376.9		359.4
Total	$	1,195.7	$	875.8	$	816.8

(1)

Long-lived assets in this table are comprised of property, plant and equipment, net, for all years presented. In addition, for 2019, operating lease right-of-use assets are also included, as a result of the Company’s adoption of Topic 842 effective January 1, 2019. Refer to Note 10 herein for further details on the impact of Topic 842.

Disaggregation of Net Sales

The following table shows our net sales disaggregated into categories the Company considers meaningful to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors for the years ended December 31, 2019 and 2018:


	Interconnect Products				Cable Products				Total Reportable
	and Assemblies				and Solutions				Business Segments
Year ended December 31,	2019		2018		2019		2018		2019		2018
Net sales by:
Sales channel:
End customers and contract manufacturers	$	6,684.0	$	6,667.9	$	301.4	$	322.3	$	6,985.4	$	6,990.2
Distributors and resellers		1,156.3		1,114.0		83.7		97.8		1,240.0		1,211.8
	$	7,840.3	$	7,781.9	$	385.1	$	420.1	$	8,225.4	$	8,202.0

Geography:
United States	$	2,323.5	$	2,038.0	$	201.2	$	203.4	$	2,524.7	$	2,241.4
China		2,300.6		2,589.9		5.8		4.1		2,306.4		2,594.0
Other foreign locations		3,216.2		3,154.0		178.1		212.6		3,394.3		3,366.6
	$	7,840.3	$	7,781.9	$	385.1	$	420.1	$	8,225.4	$	8,202.0

Net sales by geographic area are based on the customer location to which the product is shipped. No single customer represented 10% or more of the Company’s net sales for the year ended December 31, 2019. During the year ended December 31, 2018, aggregate sales to the Company’s largest customer, including sales of products to EMS companies that the Company believes are manufacturing products on their behalf, represented approximately 12% of the Company’s net sales. No single customer represented 10% or more of the Company’s net sales for the year ended December 31, 2017. It is impracticable to disclose net sales by product or group of products.

For further discussion related to the Company’s policies surrounding revenue recognition, refer to Note 1 herein.