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Reporting Segment And Geographic Information | 12 Months Ended
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Jan. 03, 2025
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 (our Chief Executive Officer) 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 uses segment revenue and operating income to assess segment performance and to allocate resources. The CODM evaluates segment revenue and operating income by considering periodic forecast-to-actual variances and trends, as well as overall strategic initiatives. Asset information by segments is not regularly reviewed by the CODM. 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: •Architects, Engineers, Construction and Owners (“AECO”). This segment primarily provides software solutions that sell primarily through a direct channel to customers in the construction industry. •Field Systems. This segment primarily provides hardware and associated software solutions that sell primarily through dealer partner channels. •Transportation and Logistics (“T&L”). This segment primarily provides solutions for customers working in long haul trucking and freight shipper markets. The following reporting segment tables reflect the revenue, costs and expenses, and operating income of our reportable operating segments under our management reporting system. Segment costs and expenses include directly attributable costs and certain indirect costs allocated to segments, such as facilities, information technology, cloud services, finance, legal, and human resources. This is consistent with the way the CODM evaluates each of the segment's performance and allocates resources.
| Reporting Segments
| AECO |  | Field Systems |  | T&L |  |
(In millions) |  |  |  |  |  |  |
2024 |  |  |  |  |  |  |
Segment revenue | $ | 1,358.6 |  |  | $ | 1,535.9 |  |  | $ | 788.8 |  |  |
Cost of sales | 220.4 |  |  | 666.3 |  |  | 280.2 |  |  |
Operating expense | 674.6 |  |  | 427.6 |  |  | 353.5 |  |  |
Operating income | $ | 463.6 |  |  | $ | 442.0 |  |  | $ | 155.1 |  |  |
Operating income % | 34.1 | % |  | 28.8 | % |  | 19.7 | % |  |
2023 |  |  |  |  |  |  |
Segment revenue | $ | 1,110.5 |  |  | $ | 1,967.9 |  |  | $ | 720.3 |  |  |
Cost of sales | 213.3 |  |  | 843.4 |  |  | 278.8 |  |  |
Operating expense | 568.2 |  |  | 521.0 |  |  | 323.3 |  |  |
Operating income | $ | 329.0 |  |  | $ | 603.5 |  |  | $ | 118.2 |  |  |
Operating income % | 29.6 | % |  | 30.7 | % |  | 16.4 | % |  |
2022 |  |  |  |  |  |  |
Segment revenue | $ | 941.7 |  |  | $ | 2,151.3 |  |  | $ | 583.3 |  |  |
Cost of sales | 201.2 |  |  | 997.4 |  |  | 268.2 |  |  |
Operating expense | 481.4 |  |  | 498.0 |  |  | 265.3 |  |  |
Operating income | $ | 259.1 |  |  | $ | 655.9 |  |  | $ | 49.8 |  |  |
Operating income % | 27.5 | % |  | 30.5 | % |  | 8.5 | % |  |
A reconciliation of our total segment operating income to consolidated income before income taxes was as follows:
| 2024 |  | 2023 |  | 2022
(In millions) |  |  |  |  |
Total segment operating income | $ | 1,060.7 |  |  | $ | 1,050.7 |  |  | $ | 964.8 |
Unallocated general corporate expenses | (123.5) |  |  | (116.0) |  |  | (123.3) |
Amortization of purchased intangible assets | (199.0) |  |  | (212.3) |  |  | (131.6) |
Acquisition / divestiture items | (81.6) |  |  | (72.4) |  |  | (32.8) |
Stock-based compensation / deferred compensation | (163.5) |  |  | (151.1) |  |  | (112.0) |
Restructuring and other costs | (32.4) |  |  | (50.1) |  |  | (54.2) |
Consolidated operating income | 460.7 |  |  | 448.8 |  |  | 510.9 |
Total non-operating income (expense), net | 1,545.2 |  |  | (91.8) |  |  | 58.2 |
Consolidated income before taxes | $ | 2,005.9 |  |  | $ | 357.0 |  |  | $ | 569.1 |
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 is consistent with the Reporting Segment tables above.
| Reporting Segments
| AECO |  | Field Systems |  | T&L |  | Total
(In millions) |  |  |  |  |  |  |
2024 |  |  |  |  |  |  |
North America | $ | 819.8 |  |  | $ | 785.9 |  |  | $ | 473.0 |  |  | $ | 2,078.7 |
Europe | 375.9 |  |  | 416.0 |  |  | 258.4 |  |  | 1,050.3 |
Asia Pacific | 125.5 |  |  | 224.8 |  |  | 14.9 |  |  | 365.2 |
Rest of World | 37.4 |  |  | 109.2 |  |  | 42.5 |  |  | 189.1 |
Total segment revenue | $ | 1,358.6 |  |  | $ | 1,535.9 |  |  | $ | 788.8 |  |  | $ | 3,683.3 |
2023 |  |  |  |  |  |  |
North America | $ | 655.5 |  |  | $ | 892.9 |  |  | $ | 470.1 |  |  | $ | 2,018.5 |
Europe | 293.7 |  |  | 581.2 |  |  | 201.3 |  |  | 1,076.2 |
Asia Pacific | 98.1 |  |  | 320.6 |  |  | 10.2 |  |  | 428.9 |
Rest of World | 63.2 |  |  | 173.2 |  |  | 38.7 |  |  | 275.1 |
Total segment revenue | $ | 1,110.5 |  |  | $ | 1,967.9 |  |  | $ | 720.3 |  |  | $ | 3,798.7 |
2022 |  |  |  |  |  |  |
North America | $ | 554.7 |  |  | $ | 941.6 |  |  | $ | 458.9 |  |  | $ | 1,955.2 |
Europe | 267.2 |  |  | 684.2 |  |  | 86.5 |  |  | 1,037.9 |
Asia Pacific | 83.9 |  |  | 321.3 |  |  | 9.9 |  |  | 415.1 |
Rest of World | 35.9 |  |  | 204.2 |  |  | 28.0 |  |  | 268.1 |
Total segment revenue | $ | 941.7 |  |  | $ | 2,151.3 |  |  | $ | 583.3 |  |  | $ | 3,676.3 |
Total revenue in the United States as included in the Consolidated Statements of Income wa s $1,911.2 million, $1,855.2 million, and $1,777.4 million in 2024, 2023, and 2022. No single customer or country othe r than the United States accounted for 10% or more of our total revenue in 2024, 2023, and 2022. No single customer accounted for 10% or more of our accounts receivable at the end of 2024 and 2023. The following table presents our physical long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets:
At the End of Year | 2024 |  | 2023
(In millions) |  |  |
United States | $ | 178.0 |  |  | $ | 179.3 |
Europe | 96.0 |  |  | 105.6 |
Asia Pacific and Rest of World | 37.9 |  |  | 41.6 |
Total long-lived assets | $ | 311.9 |  |  | $ | 326.5 |

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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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