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Note 10 Business Segment, Geographic and Customer Information
3 Months Ended
Jan. 01, 2022
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block] Business Segment, Geographic and Customer Information
ASC Topic 280, Segment Reporting, establishes standards for reporting information about operating segments, products and services, geographic areas of operations and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance.

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.

During the first quarter of 2021, the Company's Viking Technology operating segment was aggregated and reported in the Company's IMS reportable segment. The Company began reporting Viking Technology under its CPS segment during the fourth quarter of 2021. Accordingly, the data presented in the table below reflects this change in segment reporting for all periods presented. The change in segment reporting does not affect the Company’s previously reported consolidated financial statements.

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
January 1,
2022
January 2,
2021
(In thousands)
Gross sales:
IMS$1,425,010 $1,457,914 
CPS367,277 323,938 
Intersegment revenue (34,962)(26,603)
Net sales$1,757,325 $1,755,249 
Gross profit:
IMS$106,629 $105,920 
CPS42,738 40,284 
Total149,367 146,204 
Unallocated items (1)(4,878)(4,969)
Total$144,489 $141,235 

(1)    For purposes of evaluating segment performance, management excludes certain items from its measure of gross profit. These items consist of stock-based compensation expense, amortization of intangible assets, charges or credits resulting from distressed customers and litigation settlements.

Net sales by geographic segment, determined based on the country in which a product is manufactured, were as
follows:
Three Months Ended
January 1,
2022
January 2,
2021
(In thousands)
Net sales:
Americas (1)$797,020 $831,822 
EMEA269,234 259,292 
APAC691,071 664,135 
Total
$1,757,325 $1,755,249 

(1)    Mexico represents approximately 60% of the Americas revenue and the U.S. represents approximately 40%.
Percentage of net sales represented by ten largest customers48 %58 %
Number of customers representing 10% or more of net sales