v3.26.1
Segment and Geographic Information
 3 Months Ended
Apr. 03, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information
NOTE 7. SEGMENT AND GEOGRAPHIC INFORMATION
We determined our operating segments based on how our Chief Executive Officer, who is our Chief Operating Decision Maker (“CODM”), views and evaluates operations. Various factors, including market separation and customer-specific applications, go-to-market channels, and products and services, were considered in determining these operating segments. Our CODM uses segment revenue and operating income to assess segment performance and to allocate resources. The CODM evaluates segment revenue and operating income by considering periodic forecast-to-actual variances and trends, as well as overall strategic initiatives. Asset information by segments is not regularly reviewed by the CODM.
In each of our segments, we sell many individual products. For this reason, it is impracticable to segregate and identify revenue for each of the individual products or group of products we sell.
Our reportable segments are described below:
•Architects, Engineers, Construction and Owners (“AECO”). This segment primarily serves organizations across architecture, engineering, construction, and asset ownership through a connected lifecycle solution. Within this segment, our most substantial product portfolios are focused on architectural and interior design, structural and civil engineering, building and infrastructure construction, and the operations and maintenance of assets. Products are sold through a multi-channel approach, including direct, indirect, and digital channels.
•Field Systems. This segment primarily serves customers working in surveying and mapping, civil construction, building construction field services, and positioning systems. Within this segment, our most substantial product portfolios are hardware and software solutions focused on geospatial, civil engineering construction, and positioning services. Products are sold and distributed primarily through a global network of independent distribution partners.
•Transportation and Logistics . This segment provides a suite of solutions for shippers, carriers, retailers, and intermediaries globally. Within this segment, our solutions are designed to create a connected supply chain by integrating all forms of transportation, drivers, back-office management, and freight operations to build a safer, simpler, and more efficient global supply chain. Products are sold directly to end users or through software integrations.
The following reportable 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 segment’s performance and allocates resources.
 
Reportable Segments
 AECOField SystemsT&L
(In millions)   
First Quarter of 2026
Segment revenue$391.1 $409.2 $139.6 
Cost of sales
62.7 175.0 34.4 
Operating expense
205.3 116.2 71.4 
Operating income
$123.1 $118.0 $33.8 
Operating income %
31.5 %28.8 %24.2 %
First Quarter of 2025
Segment revenue$335.4 $359.2 $146.0 
Cost of sales
58.9 154.2 44.6 
Operating expense
184.9 98.4 75.3 
Operating income
$91.6 $106.6 $26.1 
Operating income %
27.3 %29.7 %17.9 %
A reconciliation of our condensed consolidated segment operating income to condensed consolidated income before income taxes was as follows: 
 First Quarter of
 20262025
(In millions)  
Total segment operating income
$274.9 $224.3 
Unallocated general corporate expenses(31.7)(26.1)
Amortization of purchased intangible assets(43.2)(42.0)
Acquisition / divestiture items(5.9)(8.9)
Stock-based compensation / deferred compensation(43.7)(37.5)
Restructuring and other costs(6.4)(12.3)
Consolidated operating income144.0 97.5 
Total non-operating expense, net(12.7)(11.1)
Consolidated income before taxes$131.3 $86.4 
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 Reportable Segments tables above.
 
Reportable Segments
 AECOField SystemsT&LTotal
(In millions)    
First Quarter of 2026
North America$250.8 $219.7 $74.4 $544.9 
Europe95.5 111.2 61.6 268.3 
Asia Pacific33.0 54.3 2.7 90.0 
Rest of World11.8 24.0 0.9 36.7 
Total segment revenue $391.1 $409.2 $139.6 $939.9 
First Quarter of 2025
North America$229.2 $192.3 $84.2 $505.7 
Europe71.8 95.6 55.3 222.7 
Asia Pacific27.7 49.4 2.7 79.8 
Rest of World6.7 21.9 3.8 32.4 
Total segment revenue $335.4 $359.2 $146.0 $840.6 
Total revenue in the United States, as included in the Condensed Consolidated Statements of Income, was $501.3 million and $469.8 million for the first quarter of 2026 and 2025. No single customer or country other than the United States accounted for 10% or more of our total revenue.