XML 35 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Reportable Segments, Geographic Information and Major Customers | 12 Months Ended
--- | ---
Oct. 03, 2020
Segment Reporting [Abstract] |
Reportable Segments, Geographic Information and Major Customers | Reportable Segments, Geographic Information and Major CustomersReportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in assessing performance and allocating resources. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company’s resources on a regional basis. Net sales for the segments are attributed to the region in which the product is manufactured or the service is performed. The services provided, manufacturing processes used, class of customers serviced and order fulfillment processes used are similar and generally interchangeable across the segments. A segment’s performance is evaluated based upon its operating income (loss). A segment’s operating income (loss) includes its net sales less cost of sales and selling and administrative expenses, but excludes corporate and other expenses. Corporate and other expenses primarily represent corporate selling and administrative expenses, and restructuring costs and other charges, if any, such as the $6.0 million and $1.7 million of restructuring and impairment costs in fiscal 2020 and 2019, respectively, and the $13.5 million one-time employee bonus paid to full-time, non-executive employees during fiscal 2018 due to the Company's ability to access overseas cash as a result of U.S. Tax Reform. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally recorded at amounts that approximate arm’s length transactions. The accounting policies for the segments are the same as for the Company taken as a whole. Information about the Company’s three reportable segments for fiscal 2020, 2019 and 2018 is as follows (in thousands):
|  | 2020 |  | 2019 |  | 2018
Net sales: |  |  |  |  |  |
AMER |  | $ | 1,327,849 |  |  | $ | 1,429,308 |  |  | $ | 1,218,944 |
APAC |  | 1,824,831 |  |  | 1,557,205 |  |  | 1,498,010 |
EMEA |  | 349,102 |  |  | 309,933 |  |  | 281,489 |
Elimination of inter-segment sales |  | (111,388) |  |  | (132,012) |  |  | (124,935) |
|  | $ | 3,390,394 |  |  | $ | 3,164,434 |  |  | $ | 2,873,508 |
Operating income (loss): |  |  |  |  |  |
AMER |  | $ | 38,126 |  |  | $ | 57,780 |  |  | $ | 38,637 |
APAC |  | 246,636 |  |  | 208,178 |  |  | 213,935 |
EMEA |  | 1,492 |  |  | 4,475 |  |  | 1,447 |
Corporate and other costs |  | (132,882) |  |  | (128,378) |  |  | (135,736) |
|  | $ | 153,372 |  |  | $ | 142,055 |  |  | $ | 118,283 |
Other income (expense): |  |  |  |  |  |
Interest expense |  | $ | (16,162) |  |  | $ | (12,853) |  |  | $ | (12,226) |
Interest income |  | 1,878 |  |  | 1,949 |  |  | 4,696 |
Miscellaneous, net |  | (3,691) |  |  | (5,196) |  |  | (3,143) |
Income before income taxes |  | $ | 135,397 |  |  | $ | 125,955 |  |  | $ | 107,610 |
|  | 2020 |  | 2019 |  | 2018
Depreciation: |  |  |  |  |  |
AMER |  | $ | 24,217 |  |  | $ | 22,531 |  |  | $ | 21,224 |
APAC |  | 17,912 |  |  | 16,905 |  |  | 15,954 |
EMEA |  | 6,938 |  |  | 6,105 |  |  | 6,054 |
Corporate |  | 6,437 |  |  | 5,344 |  |  | 4,863 |
|  | $ | 55,504 |  |  | $ | 50,885 |  |  | $ | 48,095 |
Capital expenditures: |  |  |  |  |  |
AMER |  | $ | 13,361 |  |  | $ | 42,459 |  |  | $ | 17,690 |
APAC |  | 18,902 |  |  | 33,454 |  |  | 33,018 |
EMEA |  | 8,577 |  |  | 5,186 |  |  | 7,923 |
Corporate |  | 9,248 |  |  | 9,501 |  |  | 4,149 |
|  | $ | 50,088 |  |  | $ | 90,600 |  |  | $ | 62,780 |
|  | October 3, 2020 |  | September 28, 2019 |  |
Total assets: |  |  |  |  |  |
AMER |  | $ | 759,030 |  |  | $ | 751,990 |  |  |
APAC |  | 1,073,951 |  |  | 958,744 |  |  |
EMEA |  | 279,757 |  |  | 209,541 |  |  |
Corporate and eliminations |  | 177,110 |  |  | 80,608 |  |  |
|  | $ | 2,289,848 |  |  | $ | 2,000,883 |  |  |
The following information is provided in accordance with the required segment disclosures for fiscal 2020, 2019 and 2018. Net sales were based on the Company’s location providing the product or service (in thousands):
|  | 2020 |  | 2019 |  | 2018
Net sales: |  |  |  |  |  |
United States |  | $ | 989,888 |  |  | $ | 1,197,665 |  |  | $ | 1,000,680 |
Malaysia |  | 1,432,154 |  |  | 1,138,380 |  |  | 1,118,032 |
China |  | 392,677 |  |  | 418,825 |  |  | 379,977 |
Mexico |  | 337,961 |  |  | 231,643 |  |  | 218,264 |
Romania |  | 217,295 |  |  | 195,837 |  |  | 177,111 |
United Kingdom |  | 118,463 |  |  | 99,825 |  |  | 91,426 |
Germany |  | 13,344 |  |  | 14,271 |  |  | 12,953 |
Elimination of inter-country sales |  | (111,388) |  |  | (132,012) |  |  | (124,935) |
|  | $ | 3,390,394 |  |  | $ | 3,164,434 |  |  | $ | 2,873,508 |
|  | October 3, 2020 |  | September 28, 2019 |  |
Long-lived assets: |  |  |  |  |
United States |  | $ | 99,853 |  |  | $ | 106,757 |  |
Malaysia |  | 108,400 |  |  | 101,636 |  |
Mexico |  | 68,154 |  |  | 73,864 |  |
Romania |  | 33,801 |  |  | 31,033 |  |
China |  | 21,408 |  |  | 22,378 |  |
United Kingdom |  | 7,484 |  |  | 7,344 |  |
Other Foreign |  | 6,446 |  |  | 6,751 |  |
Corporate |  | 38,115 |  |  | 34,461 |  |
|  | $ | 383,661 |  |  | $ | 384,224 |  |
As the Company operates flexible manufacturing facilities and processes designed to accommodate customers with multiple product lines and configurations, it is impracticable to report net sales for individual products or services or groups of similar products and services. Long-lived assets as of October 3, 2020 and September 28, 2019 exclude other long-term assets, operating lease right-of-use assets, deferred income tax assets and intangible assets, which totaled $127.0 million and $78.4 million, respectively. As a percentage of consolidated net sales, net sales attributable to customers representing 10.0% or more of consolidated net sales for fiscal 2020, 2019 and 2018 were as follows:
|  | 2020 |  | 2019 |  | 2018
General Electric Company ("GE") |  | 11.7% |  | 12.4% |  | 12.3%
During fiscal 2020, 2019 and 2018, net sales attributable to GE were reported in all three reportable segments. As of October 3, 2020, GE represented 15.7% of total accounts receivable. As of September 28, 2019, GE represented 10.1% of total accounts receivable.

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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration