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Segment Information & Geographic Data | 3 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Segment Information & Geographic Data | Segment Information & Geographic Data The Company’s operations consist of two reportable segments that provide complementary offerings to our customers: Asset Intelligence & Tracking (“AIT”), which includes barcode and card printing, RFID and RTLS offerings, supplies, and services; and Enterprise Visibility & Mobility (“EVM”), which includes mobile computing, data capture, fixed industrial scanning and machine vision, services, and workflow optimization solutions. 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 primarily during the Company’s annual budget and forecasting process. The CODM assesses the profitability of each segment relative to its long-term growth objectives in evaluating resource allocation priorities. 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 Ended |  |
| March 29, 2025 |  | March 30, 2024 |  |  |  |
Net sales: |  |  |  |  |  |  |
AIT | $ | 462 |  |  | $ | 392 |  |  |  |  |
EVM | 846 |  |  | 783 |  |  |  |  |
Total Net sales | $ | 1,308 |  |  | $ | 1,175 |  |  |  |  |
Cost of sales: |  |  |  |  |  |  |
AIT | $ | 226 |  |  | $ | 208 |  |  |  |  |
EVM | 437 |  |  | 404 |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |
AIT (1) | $ | 136 |  |  | $ | 108 |  |  |  |  |
EVM (1) | 287 |  |  | 259 |  |  |  |  |
Operating income: |  |  |  |  |  |  |
AIT (2) | $ | 100 |  |  | $ | 76 |  |  |  |  |
EVM (2) | 122 |  |  | 120 |  |  |  |  |
Total segment operating income | 222 |  |  | 196 |  |  |  |  |
Corporate (3) | (27) |  |  | (37) |  |  |  |  |
Total Operating income | $ | 195 |  |  | $ | 159 |  |  |  |  |
(1)AIT and EVM segment operating expenses include Selling and marketing, Research and development, and General and administrative expenses, excluding the amounts classified within Corporate. (2)AIT and EVM segment operating income includes depreciation and share-based compensation expense. The depreciation and share-based compensation expense amounts are proportionate to each segment’s Net sales. (3)To the extent applicable, amounts included in Corporate consist of Amortization of intangible assets, Acquisition and integration costs, Exit and restructuring costs, as well as certain other non-recurring costs (impairment of goodwill and other intangibles, and business acquisition purchase accounting adjustments). 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 Ended |  |
| March 29, 2025 |  | March 30, 2024 |  |  |  |
North America | $ | 656 |  |  | $ | 612 |  |  |  |  |
EMEA | 443 |  |  | 380 |  |  |  |  |
Asia-Pacific | 125 |  |  | 112 |  |  |  |  |
Latin America | 84 |  |  | 71 |  |  |  |  |
Total Net sales | $ | 1,308 |  |  | $ | 1,175 |  |  |  |  |

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- Definition The 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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