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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Jul. 03, 2021
Jun. 27, 2020
Net sales:        
Total Net sales $ 1,377 $ 956 $ 2,724 $ 2,008
Cost of sales:        
Total Cost of sales 719 537 1,411 1,116
Gross profit 658 419 1,313 892
Operating expenses:        
Selling and marketing 148 109 282 231
Research and development 141 98 281 203
General and administrative 92 74 174 148
Amortization of intangible assets 26 16 52 32
Acquisition and integration costs 4 1 5 2
Exit and restructuring costs 0 2 0 6
Total Operating expenses 411 300 794 622
Operating income 247 119 519 270
Other expenses:        
Foreign exchange (loss) gain (1) (9) 1 (12)
Interest expense, net (7) (14) (5) (59)
Other (expense) income, net (1) 7 (1) 7
Total Other expenses, net (9) (16) (5) (64)
Income before income tax 238 103 514 206
Income tax expense 19 3 67 17
Net income $ 219 $ 100 $ 447 $ 189
Basic earnings per share (USD per share) $ 4.10 $ 1.87 $ 8.36 $ 3.53
Diluted earnings per share (USD per share) $ 4.07 $ 1.85 $ 8.29 $ 3.49
Tangible products        
Net sales:        
Total Net sales $ 1,192 $ 811 $ 2,345 $ 1,712
Cost of sales:        
Total Cost of sales 618 451 1,209 937
Services and software        
Net sales:        
Total Net sales 185 145 379 296
Cost of sales:        
Total Cost of sales $ 101 $ 86 $ 202 $ 179