v3.25.2
Segment Information & Geographic Data
 6 Months Ended
Jun. 28, 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 EndedSix Months Ended
June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
Net sales:
AIT$418 $397 $880 $789 
EVM875 820 1,721 1,603 
Total Net sales$1,293 $1,217 $2,601 $2,392 
Cost of sales:
AIT$215 $210 $441 $418 
EVM462 418 899 822 
Operating expenses:
AIT (1)
$120 $114 $256 $222 
EVM (1)
284 279 571 538 
Operating income:
AIT (2)
$83 $73 $183 $149 
EVM (2)
129 123 251 243 
Total segment operating income212 196 434 392 
Corporate (3)
(29)(29)(56)(66)
Total Operating income$183 $167 $378 $326 

(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 EndedSix Months Ended
June 28,
2025		June 29,
2024		June 28,
2025		June 29,
2024
North America$647 $599 $1,303 $1,211 
EMEA415 419 858 799 
Asia-Pacific141 118 266 230 
Latin America90 81 174 152 
Total Net sales$1,293 $1,217 $2,601 $2,392