OPERATING SEGMENTS The Company has two operating segments: the Flight Support Group (FSG), consisting of HEICO Aerospace and HEICO Flight Support Corp. and their collective subsidiaries; and the Electronic Technologies Group (ETG), consisting of HEICO Electronic and its subsidiaries. The Company's operating segment reporting structure is consistent with how management reviews the business, makes investing and resource decisions and assesses operating performance. Additionally, characteristics such as similarity of products, customers, economic characteristics and various other factors are considered when identifying the Company's operating segments. The FSG designs and manufactures jet engine and aircraft component replacement parts, which are approved by the FAA. In addition, the FSG repairs, overhauls and distributes jet engine and aircraft components, avionics and instruments for domestic and foreign commercial air carriers and aircraft repair companies as well as military and business aircraft operators. The FSG also manufactures and sells specialty parts as a subcontractor for aerospace and industrial original equipment manufacturers and the U.S government. Additionally, the FSG is a leading supplier, distributor, and integrator of military aircraft parts and support services primarily to foreign military organizations allied with the U.S. and a leading manufacturer of advanced niche components and complex composite assemblies for commercial aviation, defense and space applications. Further, the FSG engineers, designs and manufactures thermal insulation blankets and parts as well as removable/reusable insulation systems for aerospace, defense, commercial and industrial applications; manufactures expanded foil mesh for lightning strike protection in fixed and rotary wing aircraft; distributes aviation electrical interconnect products and electromechanical parts; and overhauls industrial pumps, motors, and other hydraulic units with a focus on the support of legacy systems for the U.S. Navy. The ETG collectively designs, manufactures and sells various types of electronic, data and microwave, and electro-optical products, including infrared simulation and test equipment, laser rangefinder receivers, electrical power supplies, back-up power supplies, power conversion products, underwater locator beacons, emergency locator transmission beacons, flight deck annunciators, panels and indicators, electromagnetic and radio frequency interference shielding and filters, high power capacitor charging power supplies, amplifiers, traveling wave tube amplifiers, photodetectors, amplifier modules, microwave power modules, flash lamp drivers, laser diode drivers, arc lamp power supplies, custom power supply designs, cable assemblies, high voltage power supplies, high voltage interconnection devices and wire, high voltage energy generators, high frequency power delivery systems, three-dimensional microelectronic and stacked memory products, harsh environment electronic connectors and other interconnect products, RF and microwave amplifiers, transmitters and receivers; RF sources, detectors and controllers, wireless cabin control systems, solid state power distribution and management systems, crashworthy and ballistically self-sealing auxiliary fuel systems, nuclear radiation detectors, communications and electronic intercept receivers and tuners, fuel level sensing systems, high-speed interface products that link devices, high performance active antenna systems for commercial aircraft, precision guided munitions, other defense applications and commercial uses; silicone material for a variety of demanding applications; precision power analog monolithic, hybrid and open frame components; high-reliability ceramic-to-metal feedthroughs and connectors, technical surveillance countermeasures (TSCM) equipment to detect devices used for espionage and information theft; and rugged small-form factor embedded computing solutions. The Companys reportable operating segments offer distinctive products and services that are marketed through different channels. They are managed separately because of their unique technology and service requirements. Segment Profit or Loss The accounting policies of the Companys operating segments are the same as those described in Note 1, Summary of Significant Accounting Policies. Management evaluates segment performance based on segment operating income. Information on the Companys two operating segments, the FSG and the ETG, for each of the last three fiscal years ended October 31 is as follows (in thousands): Segment Other, Primarily Corporate and Intersegment (1) Consolidated Totals FSG ETG Year ended October 31, 2020: Net sales $924,812 $874,987 ($12,790) $1,787,009 Depreciation 14,339 11,722 1,006 27,067 Amortization 19,957 40,553 984 61,494 Operating income 143,051 258,814 (25,217) 376,648 Capital expenditures 10,843 12,025 72 22,940 Year ended October 31, 2019: Net sales $1,240,183 $834,522 ($19,058) $2,055,647 Depreciation 13,793 10,957 1,008 25,758 Amortization 19,624 37,131 984 57,739 Operating income 242,029 245,743 (30,675) 457,097 Capital expenditures 17,036 11,826 76 28,938 Year ended October 31, 2018: Net sales $1,097,937 $701,827 ($22,043) $1,777,721 Depreciation 13,322 9,225 692 23,239 Amortization 19,530 33,339 1,083 53,952 Operating income 206,623 204,508 (34,886) 376,245 Capital expenditures 13,074 9,531 19,266 41,871 (1) Intersegment activity principally consists of net sales from the ETG to the FSG. Total assets by operating segment are as follows (in thousands): Other, Primarily Corporate Consolidated Totals Segment As of October 31, FSG ETG 2020 $1,127,666 $1,896,671 $523,374 $3,547,711 2019 1,149,737 1,643,032 176,442 2,969,211 Major Customer and Geographic Information The Company markets its products and services in approximately 110 countries. The following table summarizes the Companys net sales to customers located in the United States and to those in other countries for each of the last three fiscal years ended October 31 (in thousands). Net sales are attributed to countries based on the location of the customer. Net sales to any one customer or originating from any one foreign country did not account for 10% or more of the Companys consolidated net sales during any of the last three fiscal years. The following table also summarizes the Companys long-lived assets held within and outside of the United States as of October 31 for each of the last three fiscal years (in thousands). Long-lived assets consist of net property, plant and equipment. 2020 2019 2018 Net sales: United States of America $1,193,497 $1,308,943 $1,127,998 Other countries 593,512 746,704 649,723 Total net sales $1,787,009 $2,055,647 $1,777,721 Long-lived assets: United States of America $139,197 $143,350 $124,225 Other countries 29,651 29,995 30,514 Total long-lived assets $168,848 $173,345 $154,739