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Segment Information & Geographic Data
 9 Months Ended
Sep. 28, 2024
Segment Reporting [Abstract]  
Segment Information & Geographic Data Segment Information & Geographic Data
The Company’s operations consist of two reportable segments: Asset Intelligence & Tracking (“AIT”) and Enterprise Visibility & Mobility (“EVM”). The reportable segments have been identified based on the financial data utilized by the Company’s Chief Executive Officer (the chief operating decision maker or “CODM”) to assess segment performance and allocate resources among the Company’s segments. The CODM reviews adjusted operating income to assess segment profitability. To the extent applicable, segment operating income excludes 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. Segment assets are not reviewed by the Company’s CODM and therefore are not disclosed below.

Financial information by segment is presented as follows (in millions):
 Three Months EndedNine Months Ended
September 28,
2024		September 30,
2023		September 28,
2024		September 30,
2023
Net sales:
AIT$410 $324 $1,199 $1,305 
EVM845 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 income225 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.

Information regarding the Company’s operations by geographic area is contained in the following tables. Net sales amounts are attributed to geographic area based on customer location.
Net sales by region were as follows (in millions):
Three Months EndedNine Months Ended
September 28,
2024		September 30,
2023		September 28,
2024		September 30,
2023
North America$628 $517 $1,839 $1,884 
EMEA405 269 1,204 1,086 
Asia-Pacific132 106 362 382 
Latin America90 64 242 223 
Total Net sales$1,255 $956 $3,647 $3,575