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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Net sales:        
Total Net sales $ 1,214 $ 1,468 $ 2,619 $ 2,900
Cost of sales:        
Total Cost of sales 633 794 1,371 1,589
Gross profit 581 674 1,248 1,311
Operating expenses:        
Selling and marketing 146 151 307 303
Research and development 130 148 276 285
General and administrative 69 97 168 196
Settlement and related costs 0 372 0 372
Amortization of intangible assets 26 35 52 68
Acquisition and integration costs 2 14 2 18
Exit and restructuring costs 14 2 24 2
Total Operating expenses 387 819 829 1,244
Operating income (loss) 194 (145) 419 67
Other (loss) income, net:        
Foreign exchange (loss) gain (5) (3) (4) 5
Interest (expense) income, net (16) (3) (53) 27
Other (expense), net (2) (2) (6) (2)
Total Other (expense) income, net (23) (8) (63) 30
Income (loss) before income tax 171 (153) 356 97
Income tax expense (benefit) 27 (55) 62 (10)
Net income (loss) $ 144 $ (98) $ 294 $ 107
Basic earnings (loss) per share (in USD per share) $ 2.80 $ (1.87) $ 5.72 $ 2.04
Diluted earnings (loss) per share (in USD per share) $ 2.78 $ (1.87) $ 5.68 $ 2.02
Tangible Products        
Net sales:        
Total Net sales $ 986 $ 1,259 $ 2,156 $ 2,466
Cost of sales:        
Total Cost of sales 522 685 1,140 1,366
Services and software        
Net sales:        
Total Net sales 228 209 463 434
Cost of sales:        
Total Cost of sales $ 111 $ 109 $ 231 $ 223