XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.24.3

Revenues (Tables) | 9 Months Ended
--- | ---
Sep. 29, 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 |  | Automation Solutions |  | Smart Buildings Solutions |  | Total Revenues
Three Months Ended September 29, 2024 |  | (In thousands)
Smart Infrastructure Solutions |  | $ | 174,467 |  |  | $ | — |  |  | $ | 145,180 |  |  | $ | 319,647 |
Automation Solutions |  | — |  |  | 335,279 |  |  | — |  |  | 335,279 |
Total |  | $ | 174,467 |  |  | $ | 335,279 |  |  | $ | 145,180 |  |  | $ | 654,926 |
Three Months Ended October 1, 2023 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 146,048 |  |  | $ | — |  |  | $ | 137,857 |  |  | $ | 283,905 |
Automation Solutions |  | — |  |  | 342,902 |  |  | — |  |  | 342,902 |
Total |  | $ | 146,048 |  |  | $ | 342,902 |  |  | $ | 137,857 |  |  | $ | 626,807 |
Nine Months Ended September 29, 2024 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 422,588 |  |  | $ | — |  |  | $ | 401,621 |  |  | $ | 824,209 |
Automation Solutions |  | — |  |  | 970,728 |  |  | — |  |  | 970,728 |
Total |  | $ | 422,588 |  |  | $ | 970,728 |  |  | $ | 401,621 |  |  | $ | 1,794,937 |
Nine Months Ended October 1, 2023 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 436,935 |  |  | $ | — |  |  | $ | 434,842 |  |  | $ | 871,777 |
Automation Solutions |  | — |  |  | 1,089,064 |  |  | — |  |  | 1,089,064 |
Total |  | $ | 436,935 |  |  | $ | 1,089,064 |  |  | $ | 434,842 |  |  | $ | 1,960,841 |
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 September 29, 2024 |  | (In thousands)
Smart Infrastructure Solutions |  | $ | 243,759 |  |  | $ | 45,480 |  |  | $ | 30,408 |  |  | $ | 319,647 |
Automation Solutions |  | 196,326 |  |  | 87,733 |  |  | 51,220 |  |  | 335,279 |
Total |  | $ | 440,085 |  |  | $ | 133,213 |  |  | $ | 81,628 |  |  | $ | 654,926 |
Three Months Ended October 1, 2023 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 199,002 |  |  | $ | 51,476 |  |  | $ | 33,427 |  |  | $ | 283,905 |
Automation Solutions |  | 195,154 |  |  | 92,189 |  |  | 55,559 |  |  | 342,902 |
Total |  | $ | 394,156 |  |  | $ | 143,665 |  |  | $ | 88,986 |  |  | $ | 626,807 |
Nine Months Ended September 29, 2024 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 610,992 |  |  | $ | 133,547 |  |  | $ | 79,670 |  |  | $ | 824,209 |
Automation Solutions |  | 578,101 |  |  | 248,606 |  |  | 144,021 |  |  | 970,728 |
Total |  | $ | 1,189,093 |  |  | $ | 382,153 |  |  | $ | 223,691 |  |  | $ | 1,794,937 |
Nine Months Ended October 1, 2023 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 659,360 |  |  | $ | 125,595 |  |  | $ | 86,822 |  |  | $ | 871,777 |
Automation Solutions |  | 624,219 |  |  | 303,165 |  |  | 161,680 |  |  | 1,089,064 |
Total |  | $ | 1,283,579 |  |  | $ | 428,760 |  |  | $ | 248,502 |  |  | $ | 1,960,841 |
Schedule of Contract with Customer, Asset and Liability | The following table presents estimated and accrued variable consideration:
|  | September 29, 2024 |  | December 31, 2023
|  | (in thousands)
Accrued rebates included in accrued liabilities |  | $ | 41,719 |  |  | $ | 49,255 |
Accrued returns included in accrued liabilities |  | 15,299 |  |  | 15,570 |
Price adjustments recognized against gross accounts receivable |  | 29,461 |  |  | 26,005 |
The following table presents deferred revenue activity during the three and nine months ended September 29, 2024 and October 1, 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 |
New deferrals |  | 14,714 |  |  | 9,146 |
Acquisitions |  | 46 |  |  | 104 |
Revenue recognized |  | (15,240) |  |  | (11,224) |
Balance at the end of Q3 |  | $ | 29,133 |  |  | $ | 27,693 |
Schedule of Sales Commissions | The following table presents sales commissions that are recorded within selling, general and administrative expenses:
|  | Three Months Ended |  | Nine Months ended
|  | September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
|  | (In thousands)
Sales commissions |  | $ | 6,865 |  |  | $ | 4,729 |  |  | $ | 18,036 |  |  | $ | 16,819 |

X
- Definition Tabular disclosure of cost capitalized in obtaining or fulfilling contract with customer. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 340 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479483/340-40-50-3 + Details
Name: | us-gaap_CapitalizedContractCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration