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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Sep. 30, 2023
Oct. 01, 2022
Net sales:        
Total Net sales $ 956 $ 1,378 $ 3,575 $ 4,278
Cost of sales:        
Total Cost of sales 529 750 1,900 2,339
Gross profit 427 628 1,675 1,939
Operating expenses:        
Selling and marketing 138 149 445 452
Research and development 127 143 403 428
General and administrative 88 92 256 288
Settlement and related costs 0 0 0 372
Amortization of intangible assets 26 39 78 107
Acquisition and integration costs 2 1 4 19
Exit and restructuring costs 58 2 82 4
Total Operating expenses 439 426 1,268 1,670
Operating (loss) income (12) 202 407 269
Other income (loss), net:        
Foreign exchange gain 6 0 2 5
Interest (expense) income, net (16) 21 (69) 48
Other expense, net (2) (1) (8) (3)
Total Other (expense) income, net (12) 20 (75) 50
(Loss) income before income tax (24) 222 332 319
Income tax (benefit) expense (9) 52 53 42
Net (loss) income $ (15) $ 170 $ 279 $ 277
Basic (loss) earnings per share (in USD per share) $ (0.28) $ 3.28 $ 5.44 $ 5.29
Diluted (loss) earnings per share (in USD per share) $ (0.28) $ 3.26 $ 5.40 $ 5.25
Tangible Products        
Net sales:        
Total Net sales $ 729 $ 1,164 $ 2,885 $ 3,630
Cost of sales:        
Total Cost of sales 419 632 1,559 1,998
Services and software        
Net sales:        
Total Net sales 227 214 690 648
Cost of sales:        
Total Cost of sales $ 110 $ 118 $ 341 $ 341