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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2020
Jun. 29, 2019
Net sales:        
Total Net sales $ 956 $ 1,097 $ 2,008 $ 2,163
Cost of sales:        
Total Cost of sales 537 577 1,116 1,142
Gross profit 419 520 892 1,021
Operating expenses:        
Selling and marketing 109 127 231 249
Research and development 98 108 203 219
General and administrative 74 90 148 166
Amortization of intangible assets 16 30 32 58
Acquisition and integration costs 1 4 2 8
Exit and restructuring costs 2 1 6 2
Total Operating expenses 300 360 622 702
Operating income 119 160 270 319
Other expenses:        
Foreign exchange loss (9) (1) (12) (4)
Interest expense, net (14) (33) (59) (57)
Other, net 7 3 7 2
Total Other expenses, net (16) (31) (64) (59)
Income before income tax 103 129 206 260
Income tax expense 3 5 17 21
Net income $ 100 $ 124 $ 189 $ 239
Basic earnings per share (USD per share) $ 1.87 $ 2.28 $ 3.53 $ 4.43
Diluted earnings per share (USD per share) $ 1.85 $ 2.26 $ 3.49 $ 4.37
Tangible products        
Net sales:        
Total Net sales $ 811 $ 963 $ 1,712 $ 1,887
Cost of sales:        
Total Cost of sales 451 488 937 959
Services and software        
Net sales:        
Total Net sales 145 134 296 276
Cost of sales:        
Total Cost of sales $ 86 $ 89 $ 179 $ 183