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Segment and Geographic Information
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Segment Reporting [Abstract] |
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Segment and Geographic Information |
14. Segment and Geographic Information Intevac’s two reportable segments are: TFE and Photonics. Intevac’s chief operating decision-maker has been identified as the President and CEO, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Segment information is presented based upon Intevac’s management organization structure as of December 28, 2019 and the distinctive nature of each segment. Future changes to this internal financial structure may result in changes to the reportable segments disclosed. Each reportable segment is separately managed and has separate financial results that are reviewed by Intevac’s chief operating decision-maker. Each reportable segment contains closely related products that are unique to the particular segment. Segment operating profit is determined based upon internal performance measures used by the chief operating decision-maker. Intevac derives the segment results from its internal management reporting system. The accounting policies Intevac uses to derive reportable segment results are substantially the same as those used for external reporting purposes. Management measures the performance of each reportable segment based upon several metrics, including orders, net revenues and operating income. Management uses these results to evaluate the performance of, and to assign resources to, each of the reportable segments. Intevac manages certain operating expenses separately at the corporate level. Intevac allocates certain of these corporate expenses to the segments in an amount equal to 3% of net revenues. Segment operating income excludes interest income/expense and other financial charges and income taxes according to how a particular reportable segment’s management is measured. Management does not consider impairment charges, gains and losses on divestitures and sales of intellectual property, and unallocated costs in measuring the performance of the reportable segments. The TFE segment designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties, such as for the hard drive, solar cell and DCP industries, as well as other adjacent thin-film markets. The Photonics segment develops compact, cost-effective, high-sensitivity digital-optical products for the capture and display of low-light images. Intevac provides sensors, cameras and systems for government applications such as night vision. Information for each reportable segment for fiscal 2019 and 2018 is as follows: | | | | | | | | | | | 2019 | | | 2018 | | | | (in thousands) | | | | | | | | | | | | | $ | 73,678 | | | $ | 69,348 | | | | | 35,207 | | | | 25,766 | | | | | | | | | | | Total segment net revenues | | $ | 108,885 | | | $ | 95,114 | | | | | | | | | | |
| | | | | | | | | | | 2019 | | | 2018 | | | | (in thousands) | | | | | | | | | | | | | $ | 1,747 | | | $ | (1,335 | ) | | | | 6,434 | | | | 440 | | | | | | | | | | | Total segment operating profit (loss) | | | 8,181 | | | | (895 | ) | | | | | | | | | | | | | (4,256 | ) | | | (3,322 | ) | | | | | | | | | | | | | 3,925 | | | | (4,217 | ) | | | | | | | | | | | | | 574 | | | | 516 | | Other income (expense), net | | | 8 | | | | 106 | | | | | | | | | | | Income (loss) before income taxes | | $ | 4,507 | | | $ | (3,595 | ) | | | | | | | | | |
| | | | | | | | | | | 2019 | | | 2018 | | | | (in thousands) | | Depreciation and Amortization | | | | | | | | | | | $ | 1,909 | | | $ | 2,387 | | | | | 1,310 | | | | 1,870 | | | | | | | | | | | Total segment depreciation and amortization | | | 3,219 | | | | 4,257 | | | | | | | | | | | | | | 372 | | | | 357 | | | | | | | | | | | Total consolidated depreciation and amortization | | $ | 3,591 | | | $ | 4,614 | | | | | | | | | | |
| | | | | | | | | | | 2019 | | | 2018 | | | | (in thousands) | | | | | | | | | | | | | $ | 2,611 | | | $ | 1,640 | | | | | 832 | | | | 1,295 | | | | | | | | | | | Total segment capital additions | | | 3,443 | | | | 2,935 | | | | | | | | | | | | | | 664 | | | | 309 | | | | | | | | | | | Total consolidated capital additions | | $ | 4,107 | | | $ | 3,244 | | | | | | | | | | |
| | | | | | | | | | | 2019 | | | 2018 | | | | (in thousands) | | | | | | | | | | | | | $ | 51,153 | | | $ | 53,867 | | | | | 22,071 | | | | 16,721 | | | | | | | | | | | | | | 73,224 | | | | 70,588 | | | | | | | | | | | | | | 42,024 | | | | 39,163 | | | | | 787 | | | | 1,169 | | | | | 6,252 | | | | 7,913 | | | | | 752 | | | | 1,341 | | Common property, plant and equipment | | | 1,307 | | | | 1,017 | | Common operating lease assets | | | 1,898 | | | | — | | | | | 78 | | | | 879 | | | | | | | | | | | Consolidated total assets | | $ | 126,322 | | | $ | 122,070 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | (in thousands) | | | | $ | 11,420 | | | $ | 11,113 | | | | | 178 | | | | 85 | | | | | | | | | | | Net property, plant & equipment | | $ | 11,598 | | | $ | 11,198 | | | | | | | | | | |
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- DefinitionThe 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.
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