BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION

6 Months Ended

Mar. 30, 2024

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				Six Months Ended
	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
	(In thousands)
Gross sales:
IMS	$	1,461,189	$	1,929,945	$	2,966,710	$	3,867,613
CPS	398,067		431,077		792,338		889,170
Intersegment revenue	(24,661)		(40,919)		(49,655)		(80,872)
Net sales	$	1,834,595	$	2,320,103	$	3,709,393	$	4,675,911
Gross profit:
IMS	$	111,950	$	144,459	$	225,750	$	277,796
CPS	51,175		51,004		102,265		117,528
Total	163,125		195,463		328,015		395,324
Unallocated corporate items (1)	(8,368)		(4,274)		(12,418)		(8,749)
Total	$	154,757	$	191,189	$	315,597	$	386,575

(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, litigation settlements, charges or credits resulting from distressed customers and amortization of intangible assets.