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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jul. 02, 2022
Jul. 03, 2021
Net sales:        
Total Net sales $ 1,468 $ 1,377 $ 2,900 $ 2,724
Cost of sales:        
Total Cost of sales 794 719 1,589 1,411
Gross profit 674 658 1,311 1,313
Operating expenses:        
Selling and marketing 151 148 303 282
Research and development 148 141 285 281
General and administrative 97 92 196 174
Settlement and related costs 372 0 372 0
Amortization of intangible assets 35 26 68 52
Acquisition and integration costs 14 4 18 5
Exit and restructuring costs 2 0 2 0
Total Operating expenses 819 411 1,244 794
Operating (loss) income (145) 247 67 519
Other (loss) income, net:        
Foreign exchange (loss) gain (3) (1) 5 1
Interest (expense) income, net (3) (7) 27 (5)
Other (expense) income, net (2) (1) (2) (1)
Total Other (expense) income, net (8) (9) 30 (5)
(Loss) income before income tax (153) 238 97 514
Income tax (benefit) expense (55) 19 (10) 67
Net (loss) income $ (98) $ 219 $ 107 $ 447
Basic (loss) earnings per share (in USD per share) $ (1.87) $ 4.10 $ 2.04 $ 8.36
Diluted (loss) earnings per share (in USD per share) $ (1.87) $ 4.07 $ 2.02 $ 8.29
Tangible Products        
Net sales:        
Total Net sales $ 1,259 $ 1,192 $ 2,466 $ 2,345
Cost of sales:        
Total Cost of sales 685 618 1,366 1,209
Services and software        
Net sales:        
Total Net sales 209 185 434 379
Cost of sales:        
Total Cost of sales $ 109 $ 101 $ 223 $ 202