LITTELFUSE INC /DE - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - August 9, 2011
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Note 13 - Business Unit Segment Information
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Jul. 02, 2011
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| Segment Reporting Disclosure [Text Block] |
13.
Business Unit Segment Information
The
company and its subsidiaries design, manufacture and sell
circuit protection devices throughout the world. The company
reports its operations by the following business unit
segments: Electronics, Automotive, and Electrical. Each
operating segment is directly responsible for sales,
marketing and research and development. Manufacturing,
purchasing, logistics, customer service, finance, information
technology and human resources are shared functions that are
allocated back to the three operating segments. The CEO
allocates resources to and assesses the performance of each
operating segment using information about its revenue and
operating income (loss) before interest and taxes, but does
not evaluate the operating segments using discrete asset
information.
Sales,
marketing and research and development expenses are charged
directly into each operating segment. All other functions are
shared by the operating segments and expenses for these
shared functions are allocated to the operating segments and
included in the operating results reported below. The company
does not report inter-segment revenue because the operating
segments do not record it. The company does not allocate
interest and other income, interest expense, or taxes to
operating segments. Although the CEO uses operating income
(loss) to evaluate the segments, operating costs included in
one segment may benefit other segments. Except as discussed
above, the accounting policies for segment reporting are the
same as for the company as a whole.
An
operating segment is defined as a component of an enterprise
that engages in business activities from which it may earn
revenues and incur expenses, and about which separate
financial information is regularly evaluated by the Chief
Operating Decision Maker (“CODM”) in deciding how
to allocate resources. The CODM is the company’s
President and Chief Executive Officer
(“CEO”).
During
the first quarter of 2011, as previously reported, the
company adjusted its business segment reporting methodology
to report results by product line rather than by sales
organization. The company’s total consolidated revenues
and operating income did not change.
Business
unit segment information for the three and six months ended
July 2, 2011 and July 3, 2010 are summarized as follows (in
thousands):
(a)
Included in “Other” operating income for the
three months ended July 2, 2011 are acquisition related
fees. Included in “Other”
operating income for the six months ended July 2, 2011 is a
non-cash charge of $3.7 million for the sale of inventory
that had been stepped-up to fair value at the acquisition
date of Cole Hersee in 2010 as required by purchase
accounting rules. As the inventory was sold, the non-cash
charge impacted operating income.
The
company’s net sales by geographical area for the three
and six months ended July 2, 2011 and July 3, 2010 are
summarized as follows (in thousands):
The
company’s long-lived assets (net property, plant and
equipment) by geographical area as of July 2, 2011 and
January 1, 2011are summarized as follows (in
thousands):
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