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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 27, 2025
Sep. 28, 2024
Net sales:        
Total Net sales $ 1,320 $ 1,255 $ 3,921 $ 3,647
Cost of sales:        
Total Cost of sales 686 642 2,026 1,882
Gross profit 634 613 1,895 1,765
Operating expenses:        
Selling and marketing 159 151 478 449
Research and development 146 141 441 425
General and administrative 111 96 324 274
Amortization of intangible assets 25 29 74 80
Acquisition and integration costs 10 1 17 3
Exit and restructuring costs 0 4 0 17
Total Operating expenses 451 422 1,334 1,248
Operating income 183 191 561 517
Other income (loss), net:        
Foreign exchange gain (loss) 1 (9) (15) (6)
Interest expense, net (23) (31) (71) (71)
Other expense, net (2) (2) (13) (13)
Total Other expense, net (24) (42) (99) (90)
Income before income tax 159 149 462 427
Income tax expense 58 12 113 62
Net income $ 101 $ 137 $ 349 $ 365
Basic earnings per share (in USD per share) $ 1.98 $ 2.65 $ 6.83 $ 7.09
Diluted earnings per share (in USD per share) $ 1.97 $ 2.64 $ 6.78 $ 7.04
Tangible Products        
Net sales:        
Total Net sales $ 1,081 $ 1,019 $ 3,198 $ 2,931
Cost of sales:        
Total Cost of sales 557 526 1,652 1,539
Services and Software        
Net sales:        
Total Net sales 239 236 723 716
Cost of sales:        
Total Cost of sales $ 129 $ 116 $ 374 $ 343