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Reportable Segments
9 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
Reportable Segments Reportable SegmentsReportable 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. A segment’s operating income 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. 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 the three and nine months ended July 1, 2023 and July 2, 2022 is as follows (in thousands):
Three Months EndedNine Months Ended
 July 1,
2023
July 2,
2022
July 1,
2023
July 2,
2022
Net sales:
AMER$371,358 $342,572 $1,168,826 $931,123 
APAC572,150 586,305 1,801,324 1,611,862 
EMEA104,385 84,177 295,552 230,742 
Elimination of inter-segment sales(26,283)(31,713)(79,344)(86,207)
$1,021,610 $981,341 $3,186,358 $2,687,520 
  
Operating income:
AMER$15,927 $16,976 $59,109 $26,535 
APAC69,836 67,286 217,970 188,834 
EMEA783 2,597 2,023 4,043 
Corporate and other costs(58,342)(37,298)(136,615)(103,541)
28,204 49,561 142,487 115,871 
Other income (expense):
Interest expense(8,231)(3,923)(23,412)(10,314)
Interest income598 318 2,291 851 
Miscellaneous, net(3,194)(2,678)(6,750)(5,047)
Income before income taxes$17,377 $43,278 $114,616 $101,361 
  
 July 1,
2023
October 1,
2022
Total assets:
AMER$1,169,505 $1,150,605 
APAC1,785,748 1,807,542 
EMEA429,305 302,901 
Corporate and eliminations34,385 132,177 
$3,418,943 $3,393,225