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Reporting Segment And Geographic Information | 12 Months Ended
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Dec. 29, 2023
Segment Reporting, Measurement Disclosures [Abstract] |
Reporting Segment And Geographic Information | NOTE 7: REPORTING SEGMENT AND GEOGRAPHIC INFORMATION We determined our operating segments based on how our CODM views and evaluates operations. Various factors, including market separation and customer-specific applications, go-to-market channels, and products and services, were considered in determining these operating segments. Our CODM regularly reviews our segment operating results to make decisions about resources that are allocated to each segment and to assess performance. In each of our segments, we sell many individual products. For this reason, it is impracticable to segregate and identify revenue for each of the individual products or group of products we sell. Our reportable segments are described below: •Buildings and Infrastructure. This segment primarily serves customers working in architecture, engineering, construction, and operations and maintenance. •Geospatial. This segment primarily serves customers working in surveying, engineering, and government. •Resources and Utilities. This segment primarily serves customers working in agriculture, forestry, and utilities. •Transportation. This segment primarily serves customers working in long haul trucking and freight shipper markets. The following Reporting Segment tables reflect the results of our reportable operating segments under our management reporting system. These results are not necessarily in conformity with U.S. GAAP. This is consistent with the way the CODM evaluates each of the segment's performance and allocates resources.
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
2023 |  |  |  |  |  |  |  |  |
Segment revenue | $ | 1,593.1 |  |  | $ | 695.5 |  |  | $ | 769.1 |  |  | $ | 741.0 |  |  | $ | 3,798.7 |
Segment operating income | 440.8 |  |  | 209.1 |  |  | 270.6 |  |  | 130.2 |  |  | $ | 1,050.7 |
2022 |  |  |  |  |  |  |  |  |
Segment revenue | $ | 1,494.0 |  |  | $ | 756.5 |  |  | $ | 821.6 |  |  | $ | 604.2 |  |  | $ | 3,676.3 |
Segment operating income | 406.3 |  |  | 221.4 |  |  | 278.3 |  |  | 58.8 |  |  | 964.8 |
2021 |  |  |  |  |  |  |  |  |
Segment revenue | $ | 1,422.7 |  |  | $ | 828.9 |  |  | $ | 771.3 |  |  | $ | 636.5 |  |  | $ | 3,659.4 |
Segment operating income | 411.7 |  |  | 244.1 |  |  | 264.0 |  |  | 43.4 |  |  | 963.2 |
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
As of Year End 2023 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 314.1 |  |  | $ | 125.0 |  |  | $ | 92.5 |  |  | $ | 175.0 |  |  | $ | 706.6 |
Inventories | 65.0 |  |  | 115.8 |  |  | 11.1 |  |  | 43.8 |  |  | 235.7 |
Goodwill | 2,347.3 |  |  | 385.1 |  |  | 216.4 |  |  | 2,401.8 |  |  | 5,350.6 |
As of Year End 2022 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 305.1 |  |  | $ | 137.2 |  |  | $ | 79.2 |  |  | $ | 121.8 |  |  | $ | 643.3 |
Inventories | 93.2 |  |  | 146.1 |  |  | 100.3 |  |  | 62.9 |  |  | 402.5 |
Goodwill | 2,300.1 |  |  | 382.1 |  |  | 471.8 |  |  | 983.9 |  |  | 4,137.9 |
As of Year End 2021 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 246.8 |  |  | $ | 134.0 |  |  | $ | 112.9 |  |  | $ | 131.1 |  |  | $ | 624.8 |
Inventories | 79.3 |  |  | 136.4 |  |  | 67.4 |  |  | 80.2 |  |  | 363.3 |
Goodwill | 2,141.4 |  |  | 403.6 |  |  | 440.8 |  |  | 995.7 |  |  | 3,981.5 |
A reconciliation of our consolidated segment operating income to consolidated income before income taxes was as follows:
| 2023 |  | 2022 |  | 2021
(In millions) |  |  |  |  |
Consolidated segment operating income | $ | 1,050.7 |  |  | $ | 964.8 |  |  | $ | 963.2 |
Unallocated general corporate expenses | (116.0) |  |  | (123.3) |  |  | (106.2) |
Purchase accounting adjustments | (212.3) |  |  | (131.6) |  |  | (134.5) |
Acquisition / divestiture items | (72.4) |  |  | (32.8) |  |  | (21.8) |
Stock-based compensation / deferred compensation | (151.1) |  |  | (112.0) |  |  | (128.6) |
Restructuring and other costs | (50.1) |  |  | (54.2) |  |  | (11.1) |
Consolidated operating income | 448.8 |  |  | 510.9 |  |  | 561.0 |
Total non-operating income (expense), net | (91.8) |  |  | 58.2 |  |  | 13.6 |
Consolidated income before taxes | $ | 357.0 |  |  | $ | 569.1 |  |  | $ | 574.6 |
The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and excludes the effects of certain acquired deferred revenue that was written down to fair value in purchase accounting, consistent with the Reporting Segment tables above.
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
2023 |  |  |  |  |  |  |  |  |
North America | $ | 1,026.0 |  |  | $ | 300.2 |  |  | $ | 217.5 |  |  | $ | 474.8 |  |  | $ | 2,018.5 |
Europe | 338.1 |  |  | 213.3 |  |  | 328.9 |  |  | 195.9 |  |  | 1,076.2 |
Asia Pacific | 196.6 |  |  | 141.9 |  |  | 56.9 |  |  | 33.5 |  |  | 428.9 |
Rest of World | 32.4 |  |  | 40.1 |  |  | 165.8 |  |  | 36.8 |  |  | 275.1 |
Total segment revenue | $ | 1,593.1 |  |  | $ | 695.5 |  |  | $ | 769.1 |  |  | $ | 741.0 |  |  | $ | 3,798.7 |
2022 |  |  |  |  |  |  |  |  |
North America | $ | 938.1 |  |  | $ | 320.7 |  |  | $ | 227.0 |  |  | $ | 469.4 |  |  | $ | 1,955.2 |
Europe | 337.1 |  |  | 247.8 |  |  | 374.3 |  |  | 78.7 |  |  | 1,037.9 |
Asia Pacific | 192.8 |  |  | 140.3 |  |  | 51.7 |  |  | 30.3 |  |  | 415.1 |
Rest of World | 26.0 |  |  | 47.7 |  |  | 168.6 |  |  | 25.8 |  |  | 268.1 |
Total segment revenue | $ | 1,494.0 |  |  | $ | 756.5 |  |  | $ | 821.6 |  |  | $ | 604.2 |  |  | $ | 3,676.3 |
2021 |  |  |  |  |  |  |  |  |
North America | $ | 823.5 |  |  | $ | 337.3 |  |  | $ | 212.2 |  |  | $ | 493.1 |  |  | $ | 1,866.1 |
Europe | 386.6 |  |  | 282.3 |  |  | 368.4 |  |  | 87.3 |  |  | 1,124.6 |
Asia Pacific | 188.4 |  |  | 161.4 |  |  | 67.3 |  |  | 30.2 |  |  | 447.3 |
Rest of World | 24.2 |  |  | 47.9 |  |  | 123.4 |  |  | 25.9 |  |  | 221.4 |
Total segment revenue | $ | 1,422.7 |  |  | $ | 828.9 |  |  | $ | 771.3 |  |  | $ | 636.5 |  |  | $ | 3,659.4 |
Total revenue in the United States as included in the Consolidated Statements of Income wa s $1,855.2 million, $1,777.4 million, and $1,687.4 million in 2023, 2022, and 2021. No single customer or country other than the United States accounted for 10% or more of our total revenue in 2023, 2022, and 2021. No single customer accounted for 10% or more of our accounts receivable at the end of 2023 and 2022. Property and equipment, net by geographic area were as follows:
At the End of Year | 2023 |  | 2022
(In millions) |  |  |
Property and equipment, net: |  |  |
United States | $ | 153.8 |  |  | $ | 157.7 |
Europe | 28.0 |  |  | 40.3 |
Asia Pacific and Rest of World | 20.7 |  |  | 21.0 |
Total property and equipment, net | $ | 202.5 |  |  | $ | 219.0 |

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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