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Business Segments (Tables)

12 Months Ended

Dec. 29, 2024

Segment Reporting [Abstract]

Industry Segment Disclosures for Net Sales and Operating Profit Including Other Segment Income

Information on the Company’s business segments was as follows (in millions):

Net sales (a):			2024						2023						2022
Digital Imaging			$	3,070.8					$	3,144.1					$	3,110.9
Instrumentation			1,382.6						1,326.2						1,254.0
Aerospace and Defense Electronics			776.8						726.5						682.4
Engineered Systems			439.8						438.7						411.3
Total net sales			$	5,670.0					$	5,635.5					$	5,458.6

(a) Net sales exclude inter-segment sales of $24.6 million, $29.4 million and $25.3 million for fiscal years 2024, 2023 and 2022, respectively.

Cost of sales:			2024						2023						2022
Digital Imaging			$	1,708.0					$	1,711.4					$	1,705.6
Instrumentation			706.4						692.6						668.7
Aerospace and Defense Electronics			441.3						424.6						407.8
Engineered Systems			379.5						367.5						346.2
Total cost of sales			$	3,235.2					$	3,196.1					$	3,128.3

Selling, general and administrative:			2024						2023						2022
Digital Imaging			$	510.7					$	489.6					$	457.3
Instrumentation			196.4						188.2						181.6
Aerospace and Defense Electronics			91.2						83.7						75.1
Engineered Systems			26.5						24.9						24.1
Total selling, general and administrative			$	824.8					$	786.4					$	738.1

Research and development:			2024						2023						2022
Digital Imaging			$	177.3					$	244.0					$	245.0
Instrumentation			92.6						92.9						90.8
Aerospace and Defense Electronics			21.8						17.8						14.6
Engineered Systems			0.9						1.6						1.8
Total research and development			$	292.6					$	356.3					$	352.2

Acquired intangible asset amortization:			2024						2023						2022
Digital Imaging			$	183.3					$	181.7					$	183.7
Instrumentation			13.9						14.2						17.2
Aerospace and Defense Electronics			0.8						0.8						0.8
Total acquired intangible asset amortization			$	198.0					$	196.7					$	201.7

Impairment of acquired intangible assets			2024						2023						2022
Digital Imaging			$	49.5					$	—					$	—
Instrumentation			3.0						—						0.4
Total impairment of acquired intangible assets			$	52.5					$	—					$	0.4

Operating income (loss):			2024						2023						2022
Digital Imaging			$	442.0					$	517.4					$	519.3
Instrumentation			370.3						338.3						295.3
Aerospace and Defense Electronics			221.7						199.6						184.1
Engineered Systems			32.9						44.7						39.2
Corporate expense			(77.8)						(65.6)						(65.9)
Total operating income (loss)			$	989.1					$	1,034.4					$	972.0

Depreciation and amortization:			2024						2023						2022
Digital Imaging			$	261.2					$	268.9					$	279.0
Instrumentation			29.2						27.7						32.6
Aerospace and Defense Electronics			10.5						11.5						12.4
Engineered Systems			4.6						4.4						4.4
Corporate			4.4						3.9						3.8
Total depreciation and amortization			$	309.9					$	316.4					$	332.2

Capital expenditures:			2024						2023						2022
Digital Imaging			$	54.7					$	78.2					$	63.9
Instrumentation			15.0						14.0						9.3
Aerospace and Defense Electronics			7.2						10.9						8.0
Engineered Systems			2.4						3.4						5.3
Corporate			4.4						8.4						6.1
Total capital expenditures			$	83.7					$	114.9					$	92.6

Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, pension assets and other assets.

Identifiable assets (in millions):			2024						2023						2022
Digital Imaging			$	10,942.4					$	11,382.2					$	11,432.3
Instrumentation			1,750.9						1,692.3						1,626.4
Aerospace and Defense Electronics			576.2						569.1						540.1
Engineered Systems			180.3						184.8						200.3
Corporate			750.7						699.5						554.9
Total identifiable assets			$	14,200.5					$	14,527.9					$	14,354.0

Sales by Country of Origin and Long-Lived Assets by Major Geographic Area

Net sales by geographic region (in millions):			2024						2023						2022
United States			$	2,938.9					$	2,895.4					$	2,872.6
Europe			1,355.1						1,332.7						1,157.3
Asia			897.6						946.8						971.5
All other regions			478.4						460.6						457.2
Total net sales			$	5,670.0					$	5,635.5					$	5,458.6

Long-lived assets (in millions):			2024						2023						2022
United States			$	7,662.6					$	7,798.0					$	7,873.1
Canada			1,118.2						1,174.0						1,169.7
United Kingdom			890.3						852.8						825.8
France			398.2						434.0						427.4
All other countries			1,174.8						1,275.2						1,225.4
Total long-lived assets			$	11,244.1					$	11,534.0					$	11,521.4

Schedule of Sales by Product Line

The tables below provide a summary of the net sales by product line for the Instrumentation segment (in millions):

Instrumentation:			2024						2023						2022
Marine Instrumentation			$	631.5					$	529.7					$	460.7
Environmental Instrumentation			447.4						458.1						465.0
Test and Measurement Instrumentation			303.7						338.4						328.3
Total			$	1,382.6					$	1,326.2					$	1,254.0

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