Segment Information & Geographic Data (Tables)

6 Months Ended

Jul. 01, 2023

Segment Reporting [Abstract]

Schedule of Financial Information by Segments

Financial information by segment is presented as follows (in millions):

	Three Months Ended				Six Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Net sales:
AIT	$	459	$	467	$	981	$	878
EVM	755		1,001		1,638		2,022
Total Net sales	$	1,214	$	1,468	$	2,619	$	2,900
Operating income:
AIT(2)	$	114	$	94	$	243	$	150
EVM(2)	122		184		255		377
Total segment operating income	236		278		498		527
Corporate eliminations(1)	(42)		(423)		(79)		(460)
Total Operating income (loss)	$	194	$	(145)	$	419	$	67

(1)To the extent applicable, amounts included in Corporate eliminations consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, as well as certain other non-recurring costs (such as the Settlement costs in the prior year).

(2)AIT and EVM segment operating income includes depreciation and share-based compensation expense. The amounts of depreciation and share-based compensation expense are proportionate to each segment’s Net sales.

Schedule of Net Sales to Customers by Geographic Region

Net sales by region were as follows (in millions):

	Three Months Ended				Six Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
North America	$	642	$	714	$	1,367	$	1,413
EMEA	374		521		817		1,021
Asia-Pacific	122		152		276		301
Latin America	76		81		159		165
Total Net sales	$	1,214	$	1,468	$	2,619	$	2,900