Equity Investments

6 Months Ended

Jul. 04, 2025

Equity Method Investments and Joint Ventures [Abstract]

NOTE 4. EQUITY INVESTMENTS

The following table presents our equity investments in non-marketable securities:


	As of
	Second Quarter of		Year End
	2025		2024
(In millions)
Equity method investments	$	345.8	$	334.6
Other investments	284.9		26.4
Total equity investments	$	630.7	$	361.0

Equity Method Investments

Equity method investments primarily represent joint operating ventures in privately-held companies with ownership rights varying from 5% to 50%. The Company applies the equity method of accounting for these investments by recording our proportionate share of net earnings or losses of investees in non-operating (expense) income, net and by monitoring these investments for any impairments.

Of the total carrying amount of equity method investments, our 15% investment in PTx Trimble was $222.2 million and $222.3 million at the end of the second quarter of 2025 and year end 2024.

Other Investments

Other investments are related to privately-held companies without readily determinable fair values with ownership rights varying from 1% to 32.5%. The Company applies the measurement alternative for these investments, which requires measurement at initial cost, less any impairments, adjusted for observable price changes. Adjustments are recorded in other income (expense), net, which were immaterial for the periods presented.

Of the total carrying amount of other investments, our 32.5% investment in Platform Science was $253.9 million at the end of the second quarter of 2025.