Segment Information & Geographic Data

9 Months Ended

Sep. 27, 2025

Segment Reporting [Abstract]

Segment Information & Geographic Data

Segment Information & Geographic Data

The Company’s operations consist of two reportable segments that provide complementary offerings to our customers: Asset Intelligence & Tracking (“AIT”), which includes barcode and card printing, RFID and RTLS offerings, supplies, and services; and Enterprise Visibility & Mobility (“EVM”), which includes mobile computing, data capture, fixed industrial scanning and machine vision, services, and workflow optimization solutions. The reportable segments have been identified based on the financial data utilized by the Company’s Chief Executive Officer (the chief operating decision maker or “CODM”) to assess segment performance and allocate resources among the Company’s segments. The CODM reviews adjusted operating income to assess segment profitability primarily during the Company’s annual budget and forecasting process. The CODM assesses the profitability of each segment relative to its long-term growth objectives in evaluating resource allocation priorities. Segment assets are not reviewed by the Company’s CODM and therefore are not disclosed below.

Financial information by segment is presented as follows (in millions):

	Three Months Ended				Nine Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Net sales:
AIT	$	455	$	410	$	1,335	$	1,199
EVM	865		845		2,586		2,448
Total Net sales	$	1,320	$	1,255	$	3,921	$	3,647
Cost of sales:
AIT	$	225	$	211	$	666	$	629
EVM	461		431		1,360		1,253
Operating expenses:
AIT (1)	$	127	$	116	$	383	$	338
EVM (1)	289		272		860		810
Operating income:
AIT (2)	$	103	$	83	$	286	$	232
EVM (2)	115		142		366		385
Total segment operating income	218		225		652		617
Corporate (3)	(35)		(34)		(91)		(100)
Total Operating income	$	183	$	191	$	561	$	517

(1)AIT and EVM segment operating expenses include Selling and marketing, Research and development, and General and administrative expenses, excluding the amounts classified within Corporate.

(2)AIT and EVM segment operating income includes depreciation and share-based compensation expense. The depreciation and share-based compensation expense amounts are proportionate to each segment’s Net sales.

(3)To the extent applicable, amounts included in Corporate consist of Amortization of intangible assets, Acquisition and integration costs, Exit and restructuring costs, as well as certain other non-recurring costs (impairment of goodwill and other intangibles, and business acquisition purchase accounting adjustments).

Information regarding the Company’s operations by geographic area is contained in the following tables. Net sales amounts are attributed to geographic area based on customer location.

Net sales by region were as follows (in millions):

	Three Months Ended				Nine Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
North America	$	666	$	628	$	1,969	$	1,839
EMEA	394		405		1,252		1,204
Asia-Pacific	163		132		429		362
Latin America	97		90		271		242
Total Net sales	$	1,320	$	1,255	$	3,921	$	3,647