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Segment Information | 6 Months Ended
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Aug. 01, 2021
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s Chief Executive Officer functions as the chief operating decision maker ("CODM"). The CODM makes operating decisions and assesses performance based on the Company's major product lines, which represent its operating segments. The Company has three operating segments—Signal Integrity, Wireless and Sensing, and Protection—that have similar economic characteristics and have been aggregated into one reportable segment identified as the "Semiconductor Products Group." The Company’s assets are commingled among the three operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment in the segment disclosures below. Net sales by segment were as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | August 1, 2021 |  | July 26, 2020 |  | August 1, 2021 |  | July 26, 2020
Semiconductor Products Group | $ | 185,004 |  |  | $ | 143,660 |  |  | $ | 355,376 |  |  | $ | 276,362 |
Total | $ | 185,004 |  |  | $ | 143,660 |  |  | $ | 355,376 |  |  | $ | 276,362 |
The following table presents a reconciliation of operating income by segment to consolidated income before taxes and equity in net gains (losses) of equity method investments. Historical amounts have been adjusted to conform to the current presentation:
| Three Months Ended |  | Six Months Ended
(in thousands) | August 1, 2021 |  | July 26, 2020 |  | August 1, 2021 |  | July 26, 2020
Semiconductor Products Group | $ | 50,152 |  |  | $ | 34,818 |  |  | $ | 91,621 |  |  | $ | 62,916 |
Operating income by segment | 50,152 |  |  | 34,818 |  |  | 91,621 |  |  | 62,916 |
Items to reconcile segment operating income to consolidated income before taxes and equity in net gains (losses) of equity method investments: |  |  |  |  |  |  |
Share-based compensation | 11,517 |  |  | 13,186 |  |  | 23,356 |  |  | 22,565 |
Intangible amortization | 1,298 |  |  | 2,020 |  |  | 2,596 |  |  | 4,860 |
Investment impairments and credit loss reserves | 468 |  |  | 1,485 |  |  | 714 |  |  | 5,115 |
Changes in the fair value of contingent earn-out obligations | — |  |  | — |  |  | — |  |  | (33) |
Restructuring and other reserves | 16 |  |  | 502 |  |  | 16 |  |  | 502 |
Litigation cost, net of recoveries | 560 |  |  | 105 |  |  | 1,100 |  |  | 251 |
Transaction and integration related | 101 |  |  | 249 |  |  | (76) |  |  | 247 |
Interest expense | 1,185 |  |  | 1,252 |  |  | 2,384 |  |  | 2,811 |
Non-operating (income) expense, net | (213) |  |  | 176 |  |  | (307) |  |  | (247) |
Income before taxes and equity in net gains (losses) of equity method investments | $ | 35,220 |  |  | $ | 15,843 |  |  | $ | 61,838 |  |  | $ | 26,845 |
Information by Product Line The Company operates exclusively in the semiconductor industry and primarily within the analog and mixed-signal sector. The table below provides net sales activity by product line on a comparative basis:
| Three Months Ended |  | Six Months Ended
(in thousands, except percentages) | August 1, 2021 |  | July 26, 2020 |  | August 1, 2021 |  | July 26, 2020
Signal Integrity | $ | 73,087 |  |  | 39 | % |  | $ | 71,645 |  |  | 50 | % |  | $ | 139,782 |  |  | 39 | % |  | $ | 131,574 |  |  | 48 | %
Wireless and Sensing | 62,593 |  |  | 34 | % |  | 38,830 |  |  | 27 | % |  | 121,100 |  |  | 34 | % |  | 71,788 |  |  | 26 | %
Protection | 49,324 |  |  | 27 | % |  | 33,185 |  |  | 23 | % |  | 94,494 |  |  | 27 | % |  | 73,000 |  |  | 26 | %
Total net sales | $ | 185,004 |  |  | 100 | % |  | $ | 143,660 |  |  | 100 | % |  | $ | 355,376 |  |  | 100 | % |  | $ | 276,362 |  |  | 100 | %
Information by Sales Channel
(in thousands, except percentages) | Three Months Ended |  | Six Months Ended
| August 1, 2021 |  | July 26, 2020 |  | August 1, 2021 |  | July 26, 2020
Distributor | $ | 160,754 |  |  | 87 | % |  | $ | 116,545 |  |  | 81 | % |  | $ | 307,154 |  |  | 86 | % |  | $ | 220,493 |  |  | 80 | %
Direct | 24,250 |  |  | 13 | % |  | 27,115 |  |  | 19 | % |  | 48,222 |  |  | 14 | % |  | 55,869 |  |  | 20 | %
Total net sales | $ | 185,004 |  |  | 100 | % |  | $ | 143,660 |  |  | 100 | % |  | $ | 355,376 |  |  | 100 | % |  | $ | 276,362 |  |  | 100 | %
Generally, the Company does not have long-term contracts with its distributors and most distributor agreements can be terminated by either party with short notice. For the second quarter of fiscal year 2022, the Company's largest distributors were based in Asia. Geographic Information Net sales activity by geographic region was as follows:
| Three Months Ended |  | Six Months Ended
(percentage of total net sales) | August 1, 2021 |  | July 26, 2020 |  | August 1, 2021 |  | July 26, 2020
Asia-Pacific | 81 | % |  | 80 | % |  | 80 | % |  | 80 | %
North America | 11 | % |  | 12 | % |  | 12 | % |  | 12 | %
Europe | 8 | % |  | 8 | % |  | 8 | % |  | 8 | %
| 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total net sales for at least one of the periods presented:
| Three Months Ended |  | Six Months Ended
(percentage of total net sales) | August 1, 2021 |  | July 26, 2020 |  | August 1, 2021 |  | July 26, 2020
China (including Hong Kong) | 63 | % |  | 63 | % |  | 62 | % |  | 60 | %
United States | 9 | % |  | 9 | % |  | 10 | % |  | 9 | %
Although a large percentage of the Company's products is shipped into the Asia-Pacific region, a significant number of the products produced by these customers and incorporating the Company's semiconductor products are then sold outside this region.

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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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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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