BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION

3 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Business Segment, Geographic and Customer Information

The Company’s operations are managed as two businesses: IMS and CPS. The Company’s CPS business consists of multiple operating segments which do not meet the quantitative threshold for being presented individually as reportable segments. Therefore, financial information for these operating segments is presented in a single category entitled “CPS” and the Company has only one reportable segment - IMS.

The Company's chief operating decision maker is the Chief Executive Officer who allocates resources and assesses performance of operating segments based on a measure of revenue and gross profit that excludes items not directly related to the Company's ongoing business operations. These items are typically either non-recurring or non-cash in nature. Intersegment revenue consist primarily of sales of components from CPS to IMS.

The following table presents revenue and a measure of segment gross profit used by management to allocate resources and assess performance of operating segments:

	Three Months Ended
	December 30, 2023		December 31, 2022
	(In thousands)
Gross sales:
IMS	$	1,505,521	$	1,937,668
CPS	394,271		458,093
Intersegment revenue	(24,994)		(39,953)
Net sales	$	1,874,798	$	2,355,808
Gross profit:
IMS	$	113,800	$	133,337
CPS	51,090		66,524
Total	164,890		199,861
Unallocated corporate items (1)	(4,050)		(4,475)
Total	$	160,840	$	195,386

(1)    For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items consist of stock-based compensation expense and amortization of intangible assets.