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Reporting Segment And Geographic Information | 3 Months Ended
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Apr. 04, 2025
Segment Reporting [Abstract] |
Reporting Segment And Geographic Information | NOTE 7. REPORTING SEGMENT AND GEOGRAPHIC INFORMATION We determined our operating segments based on how our Chief Executive Officer, who is our Chief Operating Decision Maker (“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 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 serves customers working in architecture, engineering, construction, design, asset management, operations, and maintenance. Within this segment, our most substantial product portfolios are software solutions focused on design, engineering, building and civil construction, capital planning, and asset management software. Products are sold primarily through a direct channel to customers. •Field Systems. This segment primarily serves customers working in surveying and mapping, civil construction, building construction field services, and positioning systems. Within this segment, our most substantial product portfolios are hardware and software solutions focused on geospatial, civil engineering construction, and positioning services. Products are sold and distributed primarily through a global network of independent distribution partners. •Transportation and Logistics (“T&L”). This segment provides a suite of solutions for shippers, carriers, and intermediaries globally. Within this segment, our most substantial product portfolio addresses the truckload freight market. Products are sold primarily through a direct channel to customers. 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) |  |  |  |  |  |  |
First Quarter of 2025 |  |  |  |  |  |  |
Segment revenue | $ | 335.4 |  |  | $ | 359.2 |  |  | $ | 146.0 |  |  |
Cost of sales | 58.9 |  |  | 154.2 |  |  | 44.6 |  |  |
Operating expense | 184.9 |  |  | 98.4 |  |  | 75.3 |  |  |
Operating income | $ | 91.6 |  |  | $ | 106.6 |  |  | $ | 26.1 |  |  |
Operating income % | 27.3 | % |  | 29.7 | % |  | 17.9 | % |  |
First Quarter of 2024 |  |  |  |  |  |  |
Segment revenue | $ | 339.1 |  |  | $ | 419.2 |  |  | $ | 195.0 |  |  |
Cost of sales | 55.3 |  |  | 195.9 |  |  | 73.5 |  |  |
Operating expense | 157.1 |  |  | 125.0 |  |  | 85.2 |  |  |
Operating income | $ | 126.7 |  |  | $ | 98.3 |  |  | $ | 36.3 |  |  |
Operating income % | 37.4 | % |  | 23.4 | % |  | 18.6 | % |  |
A reconciliation of our condensed consolidated segment operating income to condensed consolidated income before income taxes was as follows:
| First Quarter of |  |
| 2025 |  | 2024 |  |  |  |
(In millions) |  |  |  |  |  |  |
Total segment operating income | $ | 224.3 |  |  | $ | 261.3 |  |  |  |  |
Unallocated general corporate expenses | (26.1) |  |  | (26.9) |  |  |  |  |
Amortization of purchased intangible assets | (42.0) |  |  | (54.5) |  |  |  |  |
Acquisition / divestiture items | (8.9) |  |  | (23.9) |  |  |  |  |
Stock-based compensation / deferred compensation | (37.5) |  |  | (38.8) |  |  |  |  |
Restructuring and other costs | (12.3) |  |  | (8.0) |  |  |  |  |
Consolidated operating income | 97.5 |  |  | 109.2 |  |  |  |  |
Total non-operating expense, net | (11.1) |  |  | (36.2) |  |  |  |  |
Consolidated income before taxes | $ | 86.4 |  |  | $ | 73.0 |  |  |  |  |
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) |  |  |  |  |  |  |
First Quarter of 2025 |  |  |  |  |  |  |
North America | $ | 229.2 |  |  | $ | 192.3 |  |  | $ | 84.2 |  |  | $ | 505.7 |
Europe | 71.8 |  |  | 95.6 |  |  | 55.3 |  |  | 222.7 |
Asia Pacific | 27.7 |  |  | 49.4 |  |  | 2.7 |  |  | 79.8 |
Rest of World | 6.7 |  |  | 21.9 |  |  | 3.8 |  |  | 32.4 |
Total segment revenue | $ | 335.4 |  |  | $ | 359.2 |  |  | $ | 146.0 |  |  | $ | 840.6 |
First Quarter of 2024 |  |  |  |  |  |  |
North America | $ | 193.1 |  |  | $ | 182.0 |  |  | $ | 119.7 |  |  | $ | 494.8 |
Europe | 100.0 |  |  | 140.5 |  |  | 56.7 |  |  | 297.2 |
Asia Pacific | 35.0 |  |  | 65.0 |  |  | 5.7 |  |  | 105.7 |
Rest of World | 11.0 |  |  | 31.7 |  |  | 12.9 |  |  | 55.6 |
Total segment revenue | $ | 339.1 |  |  | $ | 419.2 |  |  | $ | 195.0 |  |  | $ | 953.3 |
Total revenue in the United States, as included in the Condensed Consolidated Statements of Income, was $469.8 million and $456.9 million for the first quarter of 2025 and 2024. No single customer or country other than the United States accounted for 10% or more of our total revenue.

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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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