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Revenue and Segment Information | 6 Months Ended
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Jul. 03, 2020
Segment Reporting [Abstract] |
Revenue and Segment Information | Note 2: Revenue and Segment Information The Company is organized into three operating and reportable segments consisting of PSG, ASG and ISG. Because many products are sold into different end-markets, the total revenue reported for a segment is not indicative of actual sales in the end-market associated with that segment, but rather is the sum of the revenue from the product lines assigned to that segment. These segments represent the Company’s view of the business and its gross profit is used to evaluate progress of major initiatives and allocation of resources. Revenue and gross profit for the Company’s operating and reportable segments are as follows (in millions):
| PSG |  | ASG |  | ISG |  | Total
For the quarter ended July 3, 2020: |  |  |  |  |  |  |
Revenue from external customers | $ | 618.4 |  |  | $ | 426.7 |  |  | $ | 168.4 |  |  | $ | 1,213.5 |
Gross profit | $ | 184.2 |  |  | $ | 156.1 |  |  | $ | 50.3 |  |  | $ | 390.6 |
For the quarter ended June 28, 2019: |  |  |  |  |  |  |
Revenue from external customers | $ | 700.9 |  |  | $ | 462.0 |  |  | $ | 184.8 |  |  | $ | 1,347.7 |
Gross profit | $ | 255.7 |  |  | $ | 184.7 |  |  | $ | 65.9 |  |  | $ | 506.3 |
For the six months ended July 3, 2020: |  |  |  |  |  |  |
Revenue from external customers | $ | 1,242.3 |  |  | $ | 893.8 |  |  | $ | 355.3 |  |  | $ | 2,491.4 |
Gross profit | $ | 362.8 |  |  | $ | 330.9 |  |  | $ | 113.1 |  |  | $ | 806.8 |
For the six months ended June 28, 2019: |  |  |  |  |  |  |
Revenue from external customers | $ | 1,405.1 |  |  | $ | 956.1 |  |  | $ | 373.1 |  |  | $ | 2,734.3 |
Gross profit | $ | 504.7 |  |  | $ | 384.8 |  |  | $ | 140.8 |  |  | $ | 1,030.3 |
The Company had one customer, a distributor, whose revenue accounted for approximately 11% and 10% of the total revenue for the quarter and six months ended July 3, 2020, respectively. Gross profit is exclusive of the amortization of acquisition-related intangible assets. Depreciation expense is included in segment gross profit. Reconciliation of segment gross profit to consolidated gross profit is provided below (in millions):
| Quarters Ended |  |  |  | Six Months Ended |  |
| July 3, 2020 |  | June 28, 2019 |  | July 3, 2020 |  | June 28, 2019
Gross profit for reportable segments | $ | 390.6 |  |  | $ | 506.3 |  |  | $ | 806.8 |  |  | $ | 1,030.3 |
Less: Unallocated manufacturing costs | (16.3) |  |  | (7.3) |  |  | (29.8) |  |  | (17.6) |
Consolidated gross profit | $ | 374.3 |  |  | $ | 499.0 |  |  | $ | 777.0 |  |  | $ | 1,012.7 |
Revenue for the Company's operating and reportable segments disaggregated into geographic locations based on sales billed from the respective country and sales channels are as follows (in millions):
| Quarter Ended July 3, 2020 |  |  |  |  |  |
| PSG |  | ASG |  | ISG |  | Total
Geographic Location |  |  |  |  |  |  |
Singapore | $ | 243.4 |  |  | $ | 157.4 |  |  | $ | 38.6 |  |  | $ | 439.4 |
Hong Kong | 190.4 |  |  | 95.7 |  |  | 37.2 |  |  | 323.3 |
United Kingdom | 75.8 |  |  | 42.4 |  |  | 22.7 |  |  | 140.9 |
United States | 56.2 |  |  | 63.5 |  |  | 32.1 |  |  | 151.8 |
Other | 52.6 |  |  | 67.7 |  |  | 37.8 |  |  | 158.1 |
Total | $ | 618.4 |  |  | $ | 426.7 |  |  | $ | 168.4 |  |  | $ | 1,213.5 |
Sales Channel |  |  |  |  |  |  |
Distributors | $ | 436.9 |  |  | $ | 231.3 |  |  | $ | 103.8 |  |  | $ | 772.0 |
OEM/ODM | 150.2 |  |  | 164.4 |  |  | 54.3 |  |  | 368.9 |
Electronic Manufacturing Service Providers | 31.3 |  |  | 31.0 |  |  | 10.3 |  |  | 72.6 |
Total | $ | 618.4 |  |  | $ | 426.7 |  |  | $ | 168.4 |  |  | $ | 1,213.5 |
| Six Months Ended July 3, 2020 |  |  |  |  |  |
| PSG |  | ASG |  | ISG |  | Total
Geographic Location |  |  |  |  |  |  |
Singapore | $ | 437.7 |  |  | $ | 330.0 |  |  | $ | 80.0 |  |  | $ | 847.7 |
Hong Kong | 382.4 |  |  | 187.6 |  |  | 69.5 |  |  | 639.5 |
United Kingdom | 180.9 |  |  | 119.2 |  |  | 67.8 |  |  | 367.9 |
United States | 128.9 |  |  | 140.8 |  |  | 66.6 |  |  | 336.3 |
Other | 112.4 |  |  | 116.2 |  |  | 71.4 |  |  | 300.0 |
Total | $ | 1,242.3 |  |  | $ | 893.8 |  |  | $ | 355.3 |  |  | $ | 2,491.4 |
Sales Channel |  |  |  |  |  |  |
Distributors | $ | 823.2 |  |  | $ | 444.9 |  |  | $ | 207.2 |  |  | $ | 1,475.3 |
OEM/ODM | 344.4 |  |  | 383.8 |  |  | 127.8 |  |  | 856.0 |
Electronic Manufacturing Service Providers | 74.7 |  |  | 65.1 |  |  | 20.3 |  |  | 160.1 |
Total | $ | 1,242.3 |  |  | $ | 893.8 |  |  | $ | 355.3 |  |  | $ | 2,491.4 |
| Quarter Ended June 28, 2019 |  |  |  |  |  |
| PSG |  | ASG |  | ISG |  | Total
Geographic Location |  |  |  |  |  |  |
Singapore | $ | 213.3 |  |  | $ | 130.5 |  |  | $ | 36.1 |  |  | $ | 379.9 |
Hong Kong | 206.2 |  |  | 108.3 |  |  | 33.9 |  |  | 348.4 |
United Kingdom | 118.0 |  |  | 76.4 |  |  | 35.0 |  |  | 229.4 |
United States | 99.6 |  |  | 93.0 |  |  | 30.9 |  |  | 223.5 |
Other | 63.8 |  |  | 53.8 |  |  | 48.9 |  |  | 166.5 |
Total | $ | 700.9 |  |  | $ | 462.0 |  |  | $ | 184.8 |  |  | $ | 1,347.7 |
Sales Channel |  |  |  |  |  |  |
Distributors | $ | 433.5 |  |  | $ | 230.1 |  |  | $ | 116.8 |  |  | $ | 780.4 |
OEM/ODM | 223.3 |  |  | 197.7 |  |  | 58.7 |  |  | 479.7 |
Electronic Manufacturing Service Providers | 44.1 |  |  | 34.2 |  |  | 9.3 |  |  | 87.6 |
Total | $ | 700.9 |  |  | $ | 462.0 |  |  | $ | 184.8 |  |  | $ | 1,347.7 |
| Six Months Ended June 28, 2019 |  |  |  |  |  |
| PSG |  | ASG |  | ISG |  | Total
Geographic Location |  |  |  |  |  |  |
Singapore | $ | 438.3 |  |  | $ | 283.5 |  |  | $ | 83.3 |  |  | $ | 805.1 |
Hong Kong | 406.8 |  |  | 220.3 |  |  | 59.3 |  |  | 686.4 |
United Kingdom | 243.8 |  |  | 155.9 |  |  | 76.6 |  |  | 476.3 |
United States | 188.5 |  |  | 185.6 |  |  | 63.0 |  |  | 437.1 |
Other | 127.7 |  |  | 110.8 |  |  | 90.9 |  |  | 329.4 |
Total | $ | 1,405.1 |  |  | $ | 956.1 |  |  | $ | 373.1 |  |  | $ | 2,734.3 |
Sales Channel |  |  |  |  |  |  |
Distributors | $ | 857.2 |  |  | $ | 464.9 |  |  | $ | 223.1 |  |  | $ | 1,545.2 |
OEM/ODM | 459.5 |  |  | 418.8 |  |  | 130.2 |  |  | 1,008.5 |
Electronic Manufacturing Service Providers | 88.4 |  |  | 72.4 |  |  | 19.8 |  |  | 180.6 |
Total | $ | 1,405.1 |  |  | $ | 956.1 |  |  | $ | 373.1 |  |  | $ | 2,734.3 |
The Company operates in various geographic locations. Sales to unaffiliated customers have little correlation with the location of manufacturers. It is, therefore, not meaningful to present operating profit by geographical location. The Company does not discretely allocate assets to its operating segments, nor does management evaluate operating segments using discrete asset information. The Company’s consolidated assets are not specifically ascribed to its individual reportable segments. Rather, assets used in operations are generally shared across the Company’s operating and reportable segments. Property, plant and equipment, net by geographic location, is summarized as follows (in millions):
| As of |  |
| July 3, 2020 |  | December 31, 2019
United States | $ | 665.0 |  |  | $ | 616.7 |
South Korea | 477.5 |  |  | 485.4 |
Philippines | 415.3 |  |  | 433.5 |
China | 238.8 |  |  | 243.6 |
Japan | 211.0 |  |  | 218.1 |
Czech Republic | 212.0 |  |  | 213.4 |
Malaysia | 185.7 |  |  | 204.4 |
Other | 161.2 |  |  | 176.5 |
Total | $ | 2,566.5 |  |  | $ | 2,591.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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