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Segment and Geographic Information (Tables) | 9 Months Ended
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Oct. 03, 2025
Segment Reporting [Abstract] |
Schedule of Revenue, Operating Income and Identifiable Assets by Segment | The following reportable 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.
| Reportable Segments
| AECO |  | Field Systems |  | T&L |  |
(In millions) |  |  |  |  |  |  |
Third Quarter of 2025 |  |  |  |  |  |  |
Segment revenue | $ | 358.5 |  |  | $ | 408.7 |  |  | $ | 134.0 |  |  |
Cost of sales | 58.7 |  |  | 167.4 |  |  | 32.3 |  |  |
Operating expense | 185.9 |  |  | 104.6 |  |  | 67.1 |  |  |
Operating income | $ | 113.9 |  |  | $ | 136.7 |  |  | $ | 34.6 |  |  |
Operating income % | 31.8 | % |  | 33.4 | % |  | 25.8 | % |  |
Third Quarter of 2024 |  |  |  |  |  |  |
Segment revenue | $ | 306.0 |  |  | $ | 374.6 |  |  | $ | 195.2 |  |  |
Cost of sales | 53.8 |  |  | 154.7 |  |  | 66.2 |  |  |
Operating expense | 163.2 |  |  | 96.2 |  |  | 88.0 |  |  |
Operating income | $ | 89.0 |  |  | $ | 123.7 |  |  | $ | 41.0 |  |  |
Operating income % | 29.1 | % |  | 33.0 | % |  | 21.0 | % |  |
First Three Quarters of 2025 |  |  |  |  |  |  |
Segment revenue | $ | 1,044.2 |  |  | $ | 1,160.6 |  |  | $ | 412.7 |  |  |
Cost of sales | 177.3 |  |  | 483.5 |  |  | 110.5 |  |  |
Operating expense | 555.0 |  |  | 312.8 |  |  | 212.9 |  |  |
Operating income | $ | 311.9 |  |  | $ | 364.3 |  |  | $ | 89.3 |  |  |
Operating income % | 29.9 | % |  | 31.4 | % |  | 21.6 | % |  |
First Three Quarters of 2024 |  |  |  |  |  |  |
Segment revenue | $ | 944.8 |  |  | $ | 1,173.1 |  |  | $ | 582.0 |  |  |
Cost of sales | 162.5 |  |  | 519.1 |  |  | 209.0 |  |  |
Operating expense | 487.5 |  |  | 322.2 |  |  | 259.8 |  |  |
Operating income | $ | 294.8 |  |  | $ | 331.8 |  |  | $ | 113.2 |  |  |
Operating income % | 31.2 | % |  | 28.3 | % |  | 19.5 | % |  |
Schedule of Reconciliation of Our Condensed Consolidated Segment Operating Income to Condensed Consolidated Income Before Income Taxes | A reconciliation of our condensed consolidated segment operating income to condensed consolidated income before income taxes was as follows:
| Third Quarter of |  | First Three Quarters of
| 2025 |  | 2024 |  | 2025 |  | 2024
(In millions) |  |  |  |  |  |  |
Total segment operating income | $ | 285.2 |  |  | $ | 253.7 |  |  | $ | 765.5 |  |  | $ | 739.8 |
Unallocated general corporate expenses | (31.0) |  |  | (28.9) |  |  | (90.5) |  |  | (86.2) |
Amortization of purchased intangible assets | (43.6) |  |  | (45.4) |  |  | (128.5) |  |  | (154.4) |
Acquisition / divestiture items | (1.3) |  |  | (17.4) |  |  | (12.9) |  |  | (75.2) |
Stock-based compensation / deferred compensation | (36.6) |  |  | (38.1) |  |  | (114.9) |  |  | (115.0) |
Restructuring and other costs | (22.2) |  |  | (7.5) |  |  | (42.9) |  |  | (21.8) |
Consolidated operating income | 150.5 |  |  | 116.4 |  |  | 375.8 |  |  | 287.2 |
Total non-operating (expense) income, net | (25.4) |  |  | (43.3) |  |  | (51.0) |  |  | 1,620.9 |
Consolidated income before taxes | $ | 125.1 |  |  | $ | 73.1 |  |  | $ | 324.8 |  |  | $ | 1,908.1 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | 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 Reportable Segment tables above.
| Reportable Segments
| AECO |  | Field Systems |  | T&L |  | Total
(In millions) |  |  |  |  |  |  |
Third Quarter of 2025 |  |  |  |  |  |  |
North America | $ | 231.2 |  |  | $ | 225.4 |  |  | $ | 72.0 |  |  | $ | 528.6 |
Europe | 87.8 |  |  | 101.5 |  |  | 58.3 |  |  | 247.6 |
Asia Pacific | 29.7 |  |  | 54.1 |  |  | 2.8 |  |  | 86.6 |
Rest of World | 9.8 |  |  | 27.7 |  |  | 0.9 |  |  | 38.4 |
Total segment revenue | $ | 358.5 |  |  | $ | 408.7 |  |  | $ | 134.0 |  |  | $ | 901.2 |
Third Quarter of 2024 |  |  |  |  |  |  |
North America | $ | 197.5 |  |  | $ | 210.0 |  |  | $ | 117.0 |  |  | $ | 524.5 |
Europe | 78.0 |  |  | 88.9 |  |  | 65.7 |  |  | 232.6 |
Asia Pacific | 24.1 |  |  | 48.2 |  |  | 2.9 |  |  | 75.2 |
Rest of World | 6.4 |  |  | 27.5 |  |  | 9.6 |  |  | 43.5 |
Total segment revenue | $ | 306.0 |  |  | $ | 374.6 |  |  | $ | 195.2 |  |  | $ | 875.8 |
First Three Quarters of 2025 |  |  |  |  |  |  |
North America | $ | 684.3 |  |  | $ | 634.2 |  |  | $ | 226.7 |  |  | $ | 1,545.2 |
Europe | 245.8 |  |  | 302.6 |  |  | 171.6 |  |  | 720.0 |
Asia Pacific | 87.9 |  |  | 151.2 |  |  | 8.8 |  |  | 247.9 |
Rest of World | 26.2 |  |  | 72.6 |  |  | 5.6 |  |  | 104.4 |
Total segment revenue | $ | 1,044.2 |  |  | $ | 1,160.6 |  |  | $ | 412.7 |  |  | $ | 2,617.5 |
First Three Quarters of 2024 |  |  |  |  |  |  |
North America | $ | 582.1 |  |  | $ | 592.4 |  |  | $ | 351.6 |  |  | $ | 1,526.1 |
Europe | 249.3 |  |  | 325.6 |  |  | 186.3 |  |  | 761.2 |
Asia Pacific | 86.1 |  |  | 172.3 |  |  | 11.9 |  |  | 270.3 |
Rest of World | 27.3 |  |  | 82.8 |  |  | 32.2 |  |  | 142.3 |
Total segment revenue | $ | 944.8 |  |  | $ | 1,173.1 |  |  | $ | 582.0 |  |  | $ | 2,699.9 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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