Business Segments (Tables)

12 Months Ended

Jan. 01, 2023

Segment Reporting [Abstract]

Industry Segment Disclosures for Net Sales and Operating Profit Including Other Segment Income

Information on the Company’s business segments was as follows (in millions):

Net sales (a):	2022		2021		2020
Digital Imaging	$	3,110.9	$	2,412.9	$	986.0
Instrumentation	1,254.0		1,166.9		1,094.5
Aerospace and Defense Electronics	682.4		628.7		589.4
Engineered Systems	411.3		405.8		416.3
Total net sales	$	5,458.6	$	4,614.3	$	3,086.2
Operating income (loss):	2022		2021		2020
Digital Imaging	$	519.3	$	325.6	$	192.8
Instrumentation	295.3		253.7		213.2
Aerospace and Defense Electronics	184.1		133.2		80.8
Engineered Systems	39.2		48.6		50.1
Corporate expense	(65.9)		(136.8)		(56.8)
Total operating income (loss)	$	972.0	$	624.3	$	480.1

(a) Net sales excludes inter-segment sales of $25.3 million and $20.2 million for fiscal years 2022 and 2021, respectively.

Depreciation and amortization (in millions):	2022		2021		2020
Digital Imaging (a)	$	279.0	$	309.2	$	49.2
Instrumentation	32.6		38.1		38.3
Aerospace and Defense Electronics	12.4		13.2		13.7
Engineered Systems	4.4		7.2		9.2
Corporate	3.8		4.1		5.8
Total depreciation and amortization	$	332.2	$	371.8	$	116.2

(a) The fiscal year 2022 amount for Digital Imaging included $167.6 million of acquired asset intangible amortization related to FLIR. The fiscal year 2021 amount included $106.4 million of acquired inventory step-up expense and $110.3 million of acquired asset intangible amortization related to FLIR.

 

Capital expenditures (in millions):	2022		2021		2020
Digital Imaging	$	63.9	$	64.2	$	33.4
Instrumentation	9.3		13.3		18.0
Aerospace and Defense Electronics	8.0		8.4		10.4
Engineered Systems	5.3		12.9		7.5
Corporate	6.1		2.8		2.1
Total capital expenditures	$	92.6	$	101.6	$	71.4

Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, pension assets and other assets.

Identifiable assets (in millions):	2022		2021		2020
Digital Imaging	$	11,432.3	$	11,756.8	$	2,000.8
Instrumentation	1,626.4		1,640.3		1,676.2
Aerospace and Defense Electronics	540.1		536.3		567.6
Engineered Systems	200.3		179.2		175.1
Corporate	554.9		317.7		665.1
Total identifiable assets	$	14,354.0	$	14,430.3	$	5,084.8

Sales by Country of Origin and Long-Lived Assets by Major Geographic Area

Information on the Company’s sales by geographic region and long-lived assets by major geographic area was as follows: 

Sales by geographic region (in millions):	2022		2021		2020
United States	$	2,872.6	$	2,466.4	$	1,700.9
Europe	1,157.3		958.5		616.9
Asia	971.5		807.9		597.6
All other regions	457.2		381.5		170.8
Total sales	$	5,458.6	$	4,614.3	$	3,086.2

 

Long-lived assets (in millions):	2022		2021		2020
United States	$	7,873.1	$	9,446.3	$	1,707.0
Canada	1,169.7		763.5		372.9
United Kingdom	825.8		622.4		539.5
France	427.4		463.7		505.1
All other countries	1,225.4		679.3		201.7
Total long-lived assets	$	11,521.4	$	11,975.2	$3,326.2

Summary of Sales by Product Line

The tables below provide a summary of the sales by product line for the Instrumentation segment (in millions):

Instrumentation:	2022		2021		2020
Environmental Instrumentation	$	465.0	$	446.3	$	411.3
Marine Instrumentation	460.7		424.1		426.3
Test and Measurement Instrumentation	328.3		296.5		256.9
Total	$	1,254.0	$	1,166.9	$	1,094.5