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Revenues (Tables) | 6 Months Ended
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Jun. 30, 2024
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 Solutions |  | Smart Buildings Solutions |  | Total Revenues
Three Months Ended June 30, 2024 |  | (In thousands)
Enterprise Solutions |  | $ | 136,020 |  |  | $ | — |  |  | $ | 134,453 |  |  | $ | 270,473 |
Industrial Automation Solutions |  | — |  |  | 333,863 |  |  | — |  |  | 333,863 |
Total |  | $ | 136,020 |  |  | $ | 333,863 |  |  | $ | 134,453 |  |  | $ | 604,336 |
Three Months Ended July 2, 2023 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 159,332 |  |  | $ | — |  |  | $ | 153,197 |  |  | $ | 312,529 |
Industrial Automation Solutions |  | — |  |  | 379,716 |  |  | — |  |  | 379,716 |
Total |  | $ | 159,332 |  |  | $ | 379,716 |  |  | $ | 153,197 |  |  | $ | 692,245 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 248,120 |  |  | $ | — |  |  | $ | 256,442 |  |  | $ | 504,562 |
Industrial Automation Solutions |  | — |  |  | 635,449 |  |  | — |  |  | 635,449 |
Total |  | $ | 248,120 |  |  | $ | 635,449 |  |  | $ | 256,442 |  |  | $ | 1,140,011 |
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 |
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 June 30, 2024 |  | (In thousands)
Enterprise Solutions |  | $ | 200,904 |  |  | $ | 42,379 |  |  | $ | 27,190 |  |  | $ | 270,473 |
Industrial Automation Solutions |  | 198,884 |  |  | 83,017 |  |  | 51,962 |  |  | 333,863 |
Total |  | $ | 399,788 |  |  | $ | 125,396 |  |  | $ | 79,152 |  |  | $ | 604,336 |
Three Months Ended July 2, 2023 |  |  |  |  |  |  |  |
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 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Enterprise Solutions |  | $ | 367,233 |  |  | $ | 88,067 |  |  | $ | 49,262 |  |  | $ | 504,562 |
Industrial Automation Solutions |  | 381,774 |  |  | 160,873 |  |  | 92,802 |  |  | 635,449 |
Total |  | $ | 749,007 |  |  | $ | 248,940 |  |  | $ | 142,064 |  |  | $ | 1,140,011 |
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 |
Schedule of Contract with Customer, Asset and Liability | The following table presents estimated and accrued variable consideration:
|  | June 30, 2024 |  | December 31, 2023
|  | (in thousands)
Accrued rebates included in accrued liabilities |  | $ | 45,788 |  |  | $ | 49,255 |
Accrued returns included in accrued liabilities |  | 15,417 |  |  | 15,570 |
Price adjustments recognized against gross accounts receivable |  | 26,603 |  |  | 26,005 |
The following table presents deferred revenue activity during the three and six months ended June 30, 2024 and July 2, 2023, respectively:
|  | 2024 |  | 2023
|  | (In thousands)
Beginning balance at January 1 |  | $ | 31,062 |  |  | $ | 33,243 |
New deferrals |  | 6,280 |  |  | 4,359 |
Revenue recognized |  | (7,392) |  |  | (8,307) |
Balance at the end of Q1 |  | $ | 29,950 |  |  | $ | 29,295 |
New deferrals |  | 11,058 |  |  | 6,900 |
Revenue recognized |  | (11,395) |  |  | (6,528) |
Balance at the end of Q2 |  | $ | 29,613 |  |  | $ | 29,667 |
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
|  | June 30, 2024 |  | July 2, 2023 |  | June 30, 2024 |  | July 2, 2023
|  | (In thousands)
Sales commissions |  | $ | 5,848 |  |  | $ | 6,316 |  |  | $ | 11,171 |  |  | $ | 12,089 |

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