BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION

9 Months Ended

Jun. 29, 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 individually meet the quantitative thresholds for being presented 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				Nine Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
	(In thousands)
Gross sales:
IMS	$	1,477,499	$	1,821,819	$	4,444,209	$	5,689,432
CPS	388,220		419,156		1,180,558		1,308,326
Intersegment revenue	(24,289)		(33,857)		(73,944)		(114,729)
Net sales	$	1,841,430	$	2,207,118	$	5,550,823	$	6,883,029
Gross profit:
IMS	$	112,364	$	152,059	$	338,114	$	429,855
CPS	44,686		37,036		146,951		154,564
Total	157,050		189,095		485,065		584,419
Unallocated corporate items (1)	(3,511)		(5,887)		(15,929)		(14,636)
Total	$	153,539	$	183,208	$	469,136	$	569,783

(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.