v3.26.1
Segment and Geographic Information (Tables)
 6 Months Ended
Jul. 03, 2026
Segment Reporting [Abstract]  
Schedule of Revenue, Operating Income and Identifiable Assets by Segment
The following 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)
Second Quarter of 2026
Segment revenue$388.5 $442.5 $141.0 
Cost of sales
61.2 177.3 34.1 
Operating expense
208.3 119.4 73.0 
Operating income
$119.0 $145.8 $33.9 
Operating income %
30.6 %32.9 %24.0 %
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 %
First Two Quarters of 2026
Segment revenue$779.6 $851.7 $280.6 
Cost of sales
123.9 352.3 68.5 
Operating expense
413.6 235.6 144.4 
Operating income
$242.1 $263.8 $67.7 
Operating income %
31.1 %31.0 %24.1 %
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 %
Schedule of Reconciliation of Our Condensed Consolidated Segment Operating Income to Condensed Consolidated Income Before Income Taxes
A reconciliation of the condensed consolidated segment operating income to condensed consolidated income before income taxes was as follows: 
Second Quarter of First Two Quarters of
2026202520262025
(In millions)
Total segment operating income
$298.7 $256.0 $573.6 $480.3 
Unallocated general corporate expenses(38.1)(33.4)(69.8)(59.5)
Amortization of purchased intangible assets(44.1)(42.9)(87.3)(84.9)
Acquisition / divestiture items(23.9)(2.7)(29.8)(11.6)
Stock-based compensation / deferred compensation(44.3)(40.8)(88.0)(78.3)
Restructuring and other costs(16.3)(8.4)(22.7)(20.7)
Consolidated operating income132.0 127.8 276.0 225.3 
Total non-operating expense, net(576.8)(14.5)(589.5)(25.6)
Consolidated (loss) income before taxes$(444.8)$113.3 $(313.5)$199.7 
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset
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)
Second Quarter of 2026
North America$254.1 $254.1 $71.8 $580.0 
Europe90.7 112.4 65.5 268.6 
Asia Pacific33.6 53.5 2.6 89.7 
Rest of World10.1 22.5 1.1 33.7 
Total segment revenue $388.5 $442.5 $141.0 $972.0 
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 
First Two Quarters of 2026
North America$504.9 $473.8 $146.2 $1,124.9 
Europe186.2 223.6 127.1 536.9 
Asia Pacific66.6 107.8 5.3 179.7 
Rest of World21.9 46.5 2.0 70.4 
Total segment revenue$779.6 $851.7 $280.6 $1,911.9 
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