XML 21 R10.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Operating Segments | 3 Months Ended
--- | ---
Apr. 02, 2017
Segment Reporting [Abstract] |
Operating Segments | Operating Segments We are organized around four global business platforms: Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions. Each of the global business platforms represents a reportable segment. To leverage the Company's strengths in networking, IoT, and cybersecurity technologies, effective January 1, 2017, we formed a new segment called Network Solutions, which represents the combination of the prior Industrial IT Solutions and Network Security Solutions segments. The formation of this new segment is a natural evolution in our organic and inorganic strategies for a range of industrial and non-industrial applications. We have revised the prior period segment information to conform to the change in the composition of these reportable segments. This change had no impact to our reporting units for purposes of goodwill impairment testing. Beginning in 2017, sales of certain audio-visual cable that had previously been reported in our Broadcast Solutions segment will now be reported in our Enterprise Solutions segment. As the annual revenues associated with this product line are not material, we have not revised the prior period segment information. The key measures of segment profit or loss reviewed by our chief operating decision maker are Segment Revenues and Segment EBITDA. Segment Revenues represent non-affiliate revenues and include revenues that would have otherwise been recorded by acquired businesses as independent entities but were not recognized in our Consolidated Statements of Operations due to the effects of purchase accounting and the associated write-down of acquired deferred revenue to fair value. Segment EBITDA excludes certain items, including depreciation expense; amortization of intangibles; asset impairment; severance, restructuring, and acquisition integration costs; purchase accounting effects related to acquisitions, such as the adjustment of acquired inventory and deferred revenue to fair value; and other costs. We allocate corporate expenses to the segments for purposes of measuring Segment EBITDA. Corporate expenses are allocated on the basis of each segment’s relative EBITDA prior to the allocation. Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing.
|  | Broadcast Solutions |  | Enterprise Solutions |  | Industrial Solutions |  | Network Solutions |  | Total Segments
|  | (In thousands)
As of and for the three months ended April 2, 2017 |  |  |  |  |  |  |  |  |  |
Segment revenues |  | $ | 168,596 |  |  | $ | 145,682 |  |  | $ | 146,181 |  |  | $ | 90,922 |  |  | $ | 551,381 |
Affiliate revenues |  | 101 |  |  | 2,558 |  |  | 387 |  |  | 60 |  |  | 3,106 |
Segment EBITDA |  | 25,400 |  |  | 24,100 |  |  | 25,733 |  |  | 17,877 |  |  | 93,110 |
Depreciation expense |  | 3,949 |  |  | 2,599 |  |  | 3,206 |  |  | 1,629 |  |  | 11,383 |
Amortization expense |  | 10,015 |  |  | 424 |  |  | 642 |  |  | 12,588 |  |  | 23,669 |
Severance, restructuring, and acquisition integration costs |  | 408 |  |  | 4,873 |  |  | 1,121 |  |  | 198 |  |  | 6,600 |
Segment assets |  | 321,342 |  |  | 250,198 |  |  | 264,016 |  |  | 105,156 |  |  | 940,712 |
As of and for the three months ended April 3, 2016 |  |  |  |  |  |  |  |  |  |
Segment revenues |  | $ | 171,272 |  |  | $ | 135,892 |  |  | $ | 141,091 |  |  | $ | 95,545 |  |  | $ | 543,800 |
Affiliate revenues |  | 424 |  |  | 1,699 |  |  | 182 |  |  | 28 |  |  | 2,333 |
Segment EBITDA |  | 23,267 |  |  | 23,736 |  |  | 22,987 |  |  | 20,076 |  |  | 90,066 |
Depreciation expense |  | 3,962 |  |  | 3,389 |  |  | 2,718 |  |  | 1,594 |  |  | 11,663 |
Amortization expense |  | 12,931 |  |  | 429 |  |  | 591 |  |  | 11,581 |  |  | 25,532 |
Severance, restructuring, and acquisition integration costs |  | 4,378 |  |  | 500 |  |  | 865 |  |  | 2,665 |  |  | 8,408 |
Purchase accounting effects of acquisitions |  | 195 |  |  | — |  |  | — |  |  | — |  |  | 195 |
Deferred gross profit adjustments |  | 614 |  |  | — |  |  | — |  |  | 1,689 |  |  | 2,303 |
Segment assets |  | 332,009 |  |  | 233,422 |  |  | 248,971 |  |  | 105,451 |  |  | 919,853 |
The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income before taxes, respectively.
| Three Months Ended
| April 2, 2017 |  | April 3, 2016
| (In thousands)
Total Segment Revenues | $ | 551,381 |  |  | $ | 543,800 |
Deferred revenue adjustments (1) | — |  |  | (2,303 | )
Consolidated Revenues | $ | 551,381 |  |  | $ | 541,497 |
Total Segment EBITDA | $ | 93,110 |  |  | $ | 90,066 |
Amortization of intangibles | (23,669 | ) |  | (25,532 | )
Depreciation expense | (11,383 | ) |  | (11,663 | )
Severance, restructuring, and acquisition integration costs (2) | (6,600 | ) |  | (8,408 | )
Deferred gross profit adjustments (1) | — |  |  | (2,303 | )
Purchase accounting effects related to acquisitions (3) | — |  |  | (195 | )
Income (loss) from equity method investment | 1,007 |  |  | (170 | )
Eliminations | (1,128 | ) |  | (831 | )
Consolidated operating income | 51,337 |  |  | 40,964 |
Interest expense, net | (23,506 | ) |  | (24,396 | )
Consolidated income before taxes | $ | 27,831 |  |  | $ | 16,568 |
(1) For the three months ended April 3, 2016, our segment results include revenues that would have been recorded by acquired businesses had they remained as independent entities. Our consolidated results do not include these revenues due to the purchase accounting effect of recording deferred revenue at fair value. For the three months ended April 2, 2017, the purchase accounting effect of recording deferred revenue for previous acquisitions was zero. (2) See Note 8, Severance, Restructuring, and Acquisition Integration Activities, for details. (3) For the three months ended April 3, 2016, we recognized cost of sales for the adjustment of acquired inventory to fair value related to the M2FX acquisition.

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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration