v3.25.2
Reporting Segment and Geographic Information (Tables)
 6 Months Ended
Jul. 04, 2025
Segment Reporting [Abstract]  
Schedule of Revenue, Operating Income and Identifiable Assets by Segment
The following reporting segment tables reflect the revenue, costs and expenses, and operating income of our reportable operating segments under our management reporting system. Segment costs and expenses include directly attributable costs and certain indirect costs allocated to segments, such as facilities, information technology, cloud services, finance, legal, and human resources. This is consistent with the way the CODM evaluates each of the segment’s performance and allocates resources.
 Reporting Segments
 
AECO
Field Systems
T&L
(In millions)   
Second Quarter of 2025
Segment revenue$350.3 $392.7 $132.7 
Cost of sales
59.7 161.9 33.6 
Operating expense
184.2 109.8 70.5 
Operating income
$106.4 $121.0 $28.6 
Operating income %
30.4 %30.8 %21.6 %
Second Quarter of 2024
Segment revenue$299.7 $379.3 $191.8 
Cost of sales
53.4 168.5 69.3 
Operating expense
167.2 101.0 86.6 
Operating income
$79.1 $109.8 $35.9 
Operating income %
26.4 %28.9 %18.7 %
First Two Quarters of 2025
Segment revenue$685.7 $751.9 $278.7 
Cost of sales
118.6 316.1 78.2 
Operating expense
369.1 208.2 145.8 
Operating income
$198.0 $227.6 $54.7 
Operating income %
28.9 %30.3 %19.6 %
First Two Quarters of 2024
Segment revenue$638.8 $798.5 $386.8 
Cost of sales
108.7 364.4 142.8 
Operating expense
324.3 226.0 171.8 
Operating income
$205.8 $208.1 $72.2 
Operating income %
32.2 %26.1 %18.7 %
Schedule of Reconciliation of Our Condensed Consolidated Segment Operating Income to Condensed Consolidated Income Before Income Taxes
A reconciliation of our condensed consolidated segment operating income to condensed consolidated income before income taxes was as follows: 
 Second Quarter of First Two Quarters of
 2025202420252024
(In millions)    
Total segment operating income
$256.0 $224.8 $480.3 $486.1 
Unallocated general corporate expenses(33.4)(30.4)(59.5)(57.3)
Amortization of purchased intangible assets(42.9)(54.5)(84.9)(109.0)
Acquisition / divestiture items(2.7)(33.9)(11.6)(57.8)
Stock-based compensation / deferred compensation(40.8)(38.1)(78.3)(76.9)
Restructuring and other costs(8.4)(6.3)(20.7)(14.3)
Consolidated operating income127.8 61.6 225.3 170.8 
Total non-operating (expense) income, net(14.5)1,700.4 (25.6)1,664.2 
Consolidated income before taxes$113.3 $1,762.0 $199.7 $1,835.0 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and is consistent with the Reporting Segment tables above.
 Reporting Segments
 AECOField SystemsT&LTotal
(In millions)    
Second Quarter of 2025
North America$223.9 $216.5 $70.5 $510.9 
Europe86.2 105.5 58.0 249.7 
Asia Pacific30.5 47.7 3.3 81.5 
Rest of World9.7 23.0 0.9 33.6 
Total segment revenue $350.3 $392.7 $132.7 $875.7 
Second Quarter of 2024
North America$191.5 $200.4 $114.9 $506.8 
Europe71.3 96.2 63.9 231.4 
Asia Pacific27.0 59.1 3.3 89.4 
Rest of World9.9 23.6 9.7 43.2 
Total segment revenue $299.7 $379.3 $191.8 $870.8 
First Two Quarters of 2025
North America$453.1 $408.8 $154.7 $1,016.6 
Europe158.0 201.1 113.3 472.4 
Asia Pacific58.2 97.1 6.0 161.3 
Rest of World16.4 44.9 4.7 66.0 
Total segment revenue$685.7 $751.9 $278.7 $1,716.3 
First Two Quarters of 2024
North America$384.6 $382.4 $234.6 $1,001.6 
Europe171.3 236.7 120.6 528.6 
Asia Pacific62.0 124.1 9.0 195.1 
Rest of World20.9 55.3 22.6 98.8 
Total segment revenue$638.8 $798.5 $386.8 $1,824.1