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Segment Information & Geographic Data (Tables) | 9 Months Ended
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Sep. 28, 2024
Segment Reporting [Abstract] |
Schedule of Financial Information by Segments | Financial information by segment is presented as follows (in millions):
| Three Months Ended |  | Nine Months Ended
| September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Net sales: |  |  |  |  |  |  |
AIT | $ | 410 |  |  | $ | 324 |  |  | $ | 1,199 |  |  | $ | 1,305 |
EVM | 845 |  |  | 632 |  |  | 2,448 |  |  | 2,270 |
Total Net sales | $ | 1,255 |  |  | $ | 956 |  |  | $ | 3,647 |  |  | $ | 3,575 |
Operating income (loss): |  |  |  |  |  |  |
AIT(2) | $ | 83 |  |  | $ | 44 |  |  | $ | 232 |  |  | $ | 287 |
EVM(2) | 142 |  |  | 30 |  |  | 385 |  |  | 285 |
Total segment operating income | 225 |  |  | 74 |  |  | 617 |  |  | 572 |
Corporate (1) | (34) |  |  | (86) |  |  | (100) |  |  | (165) |
Total Operating income (loss) | $ | 191 |  |  | $ | (12) |  |  | $ | 517 |  |  | $ | 407 |
(1)To the extent applicable, amounts included in Corporate consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, and exit and restructuring costs. (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 |  | Nine Months Ended
| September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
North America | $ | 628 |  |  | $ | 517 |  |  | $ | 1,839 |  |  | $ | 1,884 |
EMEA | 405 |  |  | 269 |  |  | 1,204 |  |  | 1,086 |
Asia-Pacific | 132 |  |  | 106 |  |  | 362 |  |  | 382 |
Latin America | 90 |  |  | 64 |  |  | 242 |  |  | 223 |
Total Net sales | $ | 1,255 |  |  | $ | 956 |  |  | $ | 3,647 |  |  | $ | 3,575 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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