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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Oct. 02, 2021
Sep. 26, 2020
Net sales:        
Total Net sales $ 1,436 $ 1,132 $ 4,160 $ 3,140
Cost of sales:        
Total Cost of sales 790 639 2,201 1,755
Gross profit 646 493 1,959 1,385
Operating expenses:        
Selling and marketing 148 119 430 350
Research and development 141 113 422 316
General and administrative 85 71 259 219
Amortization of intangible assets 29 20 81 52
Acquisition and integration costs 6 19 11 21
Exit and restructuring costs 0 1 0 7
Total Operating expenses 409 343 1,203 965
Operating income 237 150 756 420
Other expenses:        
Foreign exchange loss (4) (3) (3) (15)
Interest expense, net (5) (10) (10) (69)
Other (expense) income, net 0 1 (1) 8
Total Other expenses, net (9) (12) (14) (76)
Income before income tax 228 138 742 344
Income tax expense 29 22 96 39
Net income $ 199 $ 116 $ 646 $ 305
Basic earnings per share (USD per share) $ 3.72 $ 2.18 $ 12.08 $ 5.70
Diluted earnings per share (USD per share) $ 3.69 $ 2.16 $ 11.98 $ 5.65
Tangible products        
Net sales:        
Total Net sales $ 1,240 $ 972 $ 3,585 $ 2,684
Cost of sales:        
Total Cost of sales 687 543 1,896 1,480
Services and software        
Net sales:        
Total Net sales 196 160 575 456
Cost of sales:        
Total Cost of sales $ 103 $ 96 $ 305 $ 275