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Segment Information & Geographic Data (Tables) | 6 Months Ended
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Jul. 01, 2023
Segment Reporting [Abstract] |
Schedule of Financial Information by Segments | Financial information by segment is presented as follows (in millions):
| Three Months Ended |  | Six Months Ended
| July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Net sales: |  |  |  |  |  |  |
AIT | $ | 459 |  |  | $ | 467 |  |  | $ | 981 |  |  | $ | 878 |
EVM | 755 |  |  | 1,001 |  |  | 1,638 |  |  | 2,022 |
Total Net sales | $ | 1,214 |  |  | $ | 1,468 |  |  | $ | 2,619 |  |  | $ | 2,900 |
Operating income: |  |  |  |  |  |  |
AIT(2) | $ | 114 |  |  | $ | 94 |  |  | $ | 243 |  |  | $ | 150 |
EVM(2) | 122 |  |  | 184 |  |  | 255 |  |  | 377 |
Total segment operating income | 236 |  |  | 278 |  |  | 498 |  |  | 527 |
Corporate eliminations(1) | (42) |  |  | (423) |  |  | (79) |  |  | (460) |
Total Operating income (loss) | $ | 194 |  |  | $ | (145) |  |  | $ | 419 |  |  | $ | 67 |
(1)To the extent applicable, amounts included in Corporate eliminations consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, as well as certain other non-recurring costs (such as the Settlement costs in the prior year). (2)AIT and EVM segment operating income includes depreciation and share-based compensation expense. The amounts of depreciation and share-based compensation expense are proportionate to each segment’s Net sales.
Schedule of Net Sales to Customers by Geographic Region | Net sales by region were as follows (in millions):
| Three Months Ended |  | Six Months Ended
| July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
North America | $ | 642 |  |  | $ | 714 |  |  | $ | 1,367 |  |  | $ | 1,413 |
EMEA | 374 |  |  | 521 |  |  | 817 |  |  | 1,021 |
Asia-Pacific | 122 |  |  | 152 |  |  | 276 |  |  | 301 |
Latin America | 76 |  |  | 81 |  |  | 159 |  |  | 165 |
Total Net sales | $ | 1,214 |  |  | $ | 1,468 |  |  | $ | 2,619 |  |  | $ | 2,900 |

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