XML 39 R24.htm IDEA: XBRL DOCUMENT
v3.24.1

Segment Information | 12 Months Ended
--- | ---
Jan. 28, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company's CEO 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 currently has four operating segments—Signal Integrity, Analog Mixed Signal and Wireless, IoT Systems, and IoT Connected Services—that represent four separate reportable segments. Historically, the Company had three operating segments—Signal Integrity, Wireless and Sensing, and Protection—that had been aggregated into two reportable segments identified as the High-Performance Analog Group, which was comprised of the Signal Integrity and Wireless and Sensing operating segments, and the System Protection Group, which was comprised of the Protection operating segment. In the fourth quarter of fiscal year 2023, as a result of organizational restructuring, the proximity sensing business and the power business were moved from the previous Wireless and Sensing operating segment into the newly formed Advanced Protection and Sensing operating segment, which also includes the Protection business. Following this organizational restructuring, the Company determined that Signal Integrity and the revised Wireless and Sensing operating segments were no longer economically similar and as a result the Company has concluded that Signal Integrity should be separately reported as its own reportable segment. Also in the fourth quarter of fiscal year 2023, in conjunction with the Sierra Wireless Acquisition, the Company formed two additional operating segments including the IoT System operating segment, which absorbed the Company's revised Wireless and Sensing operating segment, and the IoT Connected Services operating segment. In the fourth quarter of fiscal year 2024, as a result of organizational restructuring, the wireless business, which was previously included in the IoT Systems operating segment, and the SDVoE business, which was previously included in the Signal Integrity operating segment, were moved into the Analog Mixed Signal and Wireless operating segment, formerly the Advanced Protection and Sensing operating segment, which also includes the proximity sensing, power and protection businesses. As a result of the reorganization, the Company has four reportable segments. All prior year information in the tables below has been revised retrospectively to reflect the change to the Company's reportable segments. The Company’s assets are commingled among the various 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 reportable segment in the segment disclosures below. Net sales and gross profit by reportable segment were as follows:
| Fiscal Year Ended
(in thousands) | January 28, 2024 |  | January 29, 2023 |  | January 30, 2022
Net sales: |  |  |  |  |  |  |  |  |  |  |
Signal Integrity | $ | 177,033 |  |  | 20 | % |  | $ | 298,290 |  |  | 39 | % |  | $ | 286,259 |  |  | 39 | %
Analog Mixed Signal and Wireless | 260,264 |  |  | 30 | % |  | 443,239 |  |  | 59 | % |  | 454,599 |  |  | 61 | %
IoT Systems | 334,904 |  |  | 39 | % |  | 9,811 |  |  | 1 | % |  | — |  |  | — | %
IoT Connected Services | 96,557 |  |  | 11 | % |  | 5,193 |  |  | 1 | % |  | — |  |  | — | %
Total net sales | $ | 868,758 |  |  | 100 | % |  | $ | 756,533 |  |  | 100 | % |  | $ | 740,858 |  |  | 100 | %
Gross profit: |  |  |  |  |  |  |  |  |  |  |
Signal Integrity | $ | 101,245 |  |  |  |  | $ | 208,510 |  |  |  |  | $ | 195,984 |  |  |
Analog Mixed Signal and Wireless | 146,598 |  |  |  |  | 274,515 |  |  |  |  | 274,215 |  |  |
IoT Systems | 134,277 |  |  |  |  | 3,245 |  |  |  |  | — |  |  |
IoT Connected Services | 47,228 |  |  |  |  | 2,489 |  |  |  |  | — |  |  |
Unallocated costs, including share-based compensation, amortization of acquired technology and acquired technology impairments | (133,098) |  |  |  |  | (10,201) |  |  |  |  | (9,060) |  |  |
Total gross profit | $ | 296,250 |  |  |  |  | $ | 478,558 |  |  |  |  | $ | 461,139 |  |  |
Geographic Information Net sales activity by geographic region was as follows:
| Fiscal Year Ended
(in thousands, except percentages) | January 28, 2024 |  | January 29, 2023 |  | January 30, 2022
Asia-Pacific | $ | 505,603 |  |  | 58 | % |  | $ | 543,795 |  |  | 72 | % |  | $ | 583,852 |  |  | 79 | %
North America | 237,132 |  |  | 27 | % |  | 109,444 |  |  | 14 | % |  | 90,796 |  |  | 12 | %
Europe | 126,023 |  |  | 15 | % |  | 103,294 |  |  | 14 | % |  | 66,210 |  |  | 9 | %
Total net sales | $ | 868,758 |  |  | 100 | % |  | $ | 756,533 |  |  | 100 | % |  | $ | 740,858 |  |  | 100 | %
The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to geographies that represented greater than 10% of total sales for at least one of the periods presented:
| Fiscal Year Ended
(percentage of total net sales) | January 28, 2024 |  | January 29, 2023 |  | January 30, 2022
China (including Hong Kong) | 32 | % |  | 53 | % |  | 60 | %
United States | 24 | % |  | 13 | % |  | 10 | %
Total net sales | 56 | % |  | 66 | % |  | 70 | %
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. Long-lived Assets The following table summarizes the Company's long-lived assets, which consist of property, plant and equipment, net of accumulated depreciation, classified by location:
| Balance as of
(in thousands) | January 28, 2024 |  | January 29, 2023
United States | $ | 67,773 |  |  | $ | 73,695 |
Rest of North America | 52,284 |  |  | 58,307 |
Asia and all others | 14,678 |  |  | 18,359 |
Europe | 18,883 |  |  | 18,932 |
Total | $ | 153,618 |  |  | $ | 169,293 |
Some of these assets are at locations owned or operated by the Company’s suppliers. The Company has consigned certain equipment to a foundry based in China to support its specialized processes run at the foundry. The Company has also installed its own equipment at some of its packaging and testing subcontractors in order to ensure a certain level of capacity, assuming the subcontractor has ample employees to operate the equipment. The net book value of equipment and machinery that were consigned to multiple foundries in China was $5.8 million and $8.3 million as of January 28, 2024 and January 29, 2023, respectively. The net book value of equipment and machinery that were consigned to a foundry in Malaysia was $2.9 million and $3.6 million as of January 28, 2024 and January 29, 2023, respectively.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration