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Business Segment, Geographic and Customer Information | 12 Months Ended
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Oct. 01, 2022
Business Segment, Geographic and Customer Information |
Business Segment, Geographic and Customer Information | Note 16. 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:
| 1) | Integrated Manufacturing Solutions (IMS). IMS is a reportable segment consisting of printed circuit board assembly and test, high-level assembly and test and direct order fulfillment.
| 2) | Components, Products and Services (CPS). Components include printed circuit boards, backplanes and backplane assemblies, cable assemblies fabricated metal parts, precision machined parts, and plastic injected molded parts. Products include memory solutions from our Viking Technology division; high-performance storage platforms for hyperscale and enterprise solutions from our Viking Enterprise Solutions (VES) division; optical, radio frequency (RF) and microelectronics (microE) design and manufacturing services from Advanced Microsystems Technologies; defense and aerospace products from SCI Technology; and cloud-based manufacturing execution software from the Company’s 42Q division. Services include design, engineering and logistics and repair.
The Company determined that it has only one reportable segment - IMS, which generated approximately 80% of the Company’s total revenue in 2022. CPS 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 combined and presented in a single category entitled “Components, Products and Services”. The accounting policies for each segment are the same as those disclosed by the Company for its consolidated financial statements. Intersegment sales consist primarily of sales of components from CPS to IMS. The Company’s chief operating decision making group 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. Segment information is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | October 1, 2022 | ​ | October 2, 2021 | ​ | October 3, 2020
​ | ​ | (In thousands)
Gross sales (As restated): |  | ​ |  |  | ​ |  |  | ​ |
IMS | ​ | $ | 6,413,606 | ​ | $ | 5,485,612 | ​ | $ | 5,719,180
CPS | ​ |  | 1,655,183 | ​ |  | 1,379,455 | ​ |  | 1,369,550
Intersegment revenue | ​ |  | (149,167) | ​ |  | (126,711) | ​ |  | (138,522)
Net Sales | ​ | $ | 7,919,622 | ​ | $ | 6,738,356 | ​ | $ | 6,950,208
Gross Profit (As restated): | ​ |  |  | ​ |  |  | ​ |  |
IMS | ​ | $ | 462,606 | ​ | $ | 391,339 | ​ | $ | 381,638
CPS | ​ |  | 175,509 | ​ |  | 151,884 | ​ |  | 148,301
Total | ​ |  | 638,115 | ​ |  | 543,223 | ​ |  | 529,939
Unallocated items (1) | ​ |  | (15,909) | ​ |  | (16,782) | ​ |  | (12,775)
Total | ​ | $ | 622,206 | ​ | $ | 526,441 | ​ | $ | 517,164
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization: | ​ |  |  | ​ |  |  | ​ |  |
IMS | ​ | $ | 73,914 | ​ | $ | 77,076 | ​ | $ | 81,169
CPS | ​ |  | 30,061 | ​ |  | 27,770 | ​ |  | 26,718
Total | ​ |  | 103,975 | ​ |  | 104,846 | ​ |  | 107,887
Unallocated corporate items (2) | ​ |  | 4,808 | ​ |  | 4,810 | ​ |  | 6,331
Total | ​ | $ | 108,783 | ​ | $ | 109,656 | ​ | $ | 114,218
Capital expenditures (receipt basis): | ​ |  |  | ​ |  |  | ​ |  |
IMS | ​ | $ | 94,636 | ​ | $ | 44,672 | ​ | $ | 23,933
CPS | ​ |  | 55,993 | ​ |  | 33,839 | ​ |  | 23,915
Total | ​ |  | 150,629 | ​ |  | 78,511 | ​ |  | 47,848
Unallocated corporate items (2) | ​ |  | 5,650 | ​ |  | 3,343 | ​ |  | 3,227
Total | ​ | $ | 156,279 | ​ | $ | 81,854 | ​ | $ | 51,075
(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, amortization of intangible assets, charges or credits resulting from distressed customers and litigation settlements.
(2) | Primarily related to selling, general and administration functions.
Segment assets, consisting of accounts receivable, inventories and fixed assets, are substantially proportional to segment sales. ​ Net sales by geographic segment, determined based on the country in which a product is manufactured were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | October 1, | ​ | October 2, | ​ | October 3,
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | (Restated)
​ | ​ | (In thousands)
Net sales: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas (1) |  | $ | 3,748,643 |  | $ | 3,164,562 |  | $ | 3,440,365
APAC | ​ |  | 3,007,904 | ​ |  | 2,517,963 | ​ |  | 2,514,005
EMEA | ​ |  | 1,163,075 | ​ |  | 1,055,831 | ​ |  | 995,838
Total | ​ | $ | 7,919,622 | ​ | $ | 6,738,356 | ​ | $ | 6,950,208
(1) | Mexico represents approximately 60% of the Americas revenue and the U.S. represents approximately 35%.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Percentage of net sales represented by ten largest customers |  | 48.7 | % | 52.7 | % | 55.5 | %
Number of customers representing 10% or more of net sales |  | 2 |  | 1 |  | 1 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | October 1, | ​ | October 2,
​ | ​ | 2022 | ​ | 2021
​ | ​ | (In thousands)
Property, plant and equipment, net: | ​ | ​ | ​ | ​ | ​ | ​
Americas |  | $ | 367,172 |  | $ | 322,545
APAC | ​ |  | 151,254 | ​ |  | 143,111
EMEA | ​ |  | 56,744 | ​ |  | 67,329
Total | ​ | $ | 575,170 | ​ | $ | 532,985
​ ​

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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