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v3.23.2

Revenues (Tables) | 6 Months Ended
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Jul. 02, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables present our revenues disaggregated by major product category.
|  | Broadband Solutions |  | Industrial Automation |  | Smart Buildings |  | Total Revenues
Three Months Ended July 2, 2023 |  | (In thousands)
Enterprise Solutions |  | $ | 159,332 |  |  | $ | — |  |  | $ | 153,197 |  |  | $ | 312,529 |
Industrial Automation Solutions |  | — |  |  | 379,716 |  |  | — |  |  | 379,716 |
Total |  | $ | 159,332 |  |  | $ | 379,716 |  |  | $ | 153,197 |  |  | $ | 692,245 |
Three Months Ended July 3, 2022 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 146,771 |  |  | $ | — |  |  | $ | 160,673 |  |  | $ | 307,444 |
Industrial Automation Solutions |  | — |  |  | 359,107 |  |  | — |  |  | 359,107 |
Total |  | $ | 146,771 |  |  | $ | 359,107 |  |  | $ | 160,673 |  |  | $ | 666,551 |
Six Months Ended July 2, 2023 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 290,887 |  |  | $ | — |  |  | $ | 296,985 |  |  | $ | 587,872 |
Industrial Automation Solutions |  | — |  |  | 746,162 |  |  | — |  |  | 746,162 |
Total |  | $ | 290,887 |  |  | $ | 746,162 |  |  | $ | 296,985 |  |  | $ | 1,334,034 |
Six Months Ended July 3, 2022 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 268,576 |  |  | $ | — |  |  | $ | 307,298 |  |  | $ | 575,874 |
Industrial Automation Solutions |  | — |  |  | 701,048 |  |  | — |  |  | 701,048 |
Total |  | $ | 268,576 |  |  | $ | 701,048 |  |  | $ | 307,298 |  |  | $ | 1,276,922 |
The following tables present our revenues disaggregated by geography, based on the location of the customer purchasing the product.
|  | Americas |  | EMEA |  | APAC |  | Total Revenues
Three Months Ended July 2, 2023 |  | (In thousands)
Enterprise Solutions |  | $ | 246,471 |  |  | $ | 36,671 |  |  | $ | 29,387 |  |  | $ | 312,529 |
Industrial Automation Solutions |  | 213,852 |  |  | 109,055 |  |  | 56,809 |  |  | 379,716 |
Total |  | $ | 460,323 |  |  | $ | 145,726 |  |  | $ | 86,196 |  |  | $ | 692,245 |
Three Months Ended July 3, 2022 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 233,501 |  |  | $ | 36,497 |  |  | $ | 37,446 |  |  | $ | 307,444 |
Industrial Automation Solutions |  | 214,045 |  |  | 91,765 |  |  | 53,297 |  |  | 359,107 |
Total |  | $ | 447,546 |  |  | $ | 128,262 |  |  | $ | 90,743 |  |  | $ | 666,551 |
Six Months Ended July 2, 2023 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 460,358 |  |  | $ | 74,119 |  |  | $ | 53,395 |  |  | $ | 587,872 |
Industrial Automation Solutions |  | 429,065 |  |  | 210,976 |  |  | 106,121 |  |  | 746,162 |
Total |  | $ | 889,423 |  |  | $ | 285,095 |  |  | $ | 159,516 |  |  | $ | 1,334,034 |
Six Months Ended July 3, 2022 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 437,887 |  |  | $ | 75,886 |  |  | $ | 62,101 |  |  | $ | 575,874 |
Industrial Automation Solutions |  | 418,355 |  |  | 182,216 |  |  | 100,477 |  |  | 701,048 |
Total |  | $ | 856,242 |  |  | $ | 258,102 |  |  | $ | 162,578 |  |  | $ | 1,276,922 |
Schedule of Contract with Customer, Asset and Liability | The following table presents estimated and accrued variable consideration:
|  | July 2, 2023 |  | December 31, 2022
|  | (in thousands)
Accrued rebates included in accrued liabilities |  | $ | 42,868 |  |  | $ | 55,559 |
Accrued returns included in accrued liabilities |  | 16,575 |  |  | 11,700 |
Price adjustments recognized against gross accounts receivable |  | 25,457 |  |  | 24,304 |
The following table presents deferred revenue activity during the three and six months ended July 2, 2023 and July 3, 2022, respectively:
|  | 2023 |  | 2022
|  | (In thousands)
Beginning balance at January 1 |  | $ | 33,243 |  |  | $ | 19,390 |
New deferrals |  | 4,359 |  |  | 8,857 |
Acquisitions |  | — |  |  | 6,567 |
Revenue recognized |  | (8,307) |  |  | (3,365) |
Balance at the end of Q1 |  | $ | 29,295 |  |  | $ | 31,449 |
New deferrals |  | 6,900 |  |  | 4,265 |
Revenue recognized |  | (6,528) |  |  | (8,880) |
Balance at the end of Q2 |  | $ | 29,667 |  |  | $ | 26,834 |
Schedule of Sales Commissions | The following table presents sales commissions that are recorded within selling, general and administrative expenses:
|  | Three Months Ended |  | Six Months ended
|  | July 2, 2023 |  | July 3, 2022 |  | July 2, 2023 |  | July 3, 2022
|  | (In thousands)
Sales commissions |  | $ | 6,316 |  |  | $ | 6,131 |  |  | $ | 12,089 |  |  | $ | 11,354 |

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