Zebra Technologies (ZBRA) 10-Q 28 Jul 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 27, 2020	Jul. 21, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 2020
Document Transition Report	false
Entity File Number	000-19406
Entity Registrant Name	Zebra Technologies Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2675536
Entity Address, Address Line One	3 Overlook Point
Entity Address, City or Town	Lincolnshire
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60069
City Area Code	847
Local Phone Number	634-6700
Title of 12(b) Security	Class A Common Stock, par value $.01 per share
Trading Symbol	ZBRA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		53,339,844
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000877212
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 27, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 63	$ 30
Accounts receivable, net of allowances for doubtful accounts of $2 million as of June 27, 2020 and December 31, 2019, respectively	406	613
Inventories, net	513	474
Income tax receivable	52	32
Prepaid expenses and other current assets	60	46
Total Current assets	1,094	1,195
Property, plant and equipment, net	252	259
Right-of-use lease assets	109	107
Goodwill	2,621	2,622
Other intangibles, net	242	275
Deferred income taxes	123	127
Other long-term assets	166	126
Total Assets	4,607	4,711
Current liabilities:
Current portion of long-term debt	233	197
Accounts payable	503	552
Accrued liabilities	369	379
Deferred revenue	273	238
Income taxes payable	11	38
Total Current liabilities	1,389	1,404
Long-term debt	986	1,080
Long-term lease liabilities	105	100
Long-term deferred revenue	232	221
Other long-term liabilities	92	67
Total Liabilities	2,804	2,872
Stockholders’ Equity:
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued	0	0
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares	1	1
Additional paid-in capital	350	339
Treasury stock at cost, 18,828,806 and 18,148,925 shares as of June 27, 2020 and December 31, 2019, respectively	(911)	(689)
Retained earnings	2,421	2,232
Accumulated other comprehensive loss	(58)	(44)
Total Stockholders’ Equity	1,803	1,839
Total Liabilities and Stockholders’ Equity	4,607	4,711
Allowance for doubtful accounts	$ 2	$ 2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2	$ 2
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	72,151,857	72,151,857
Treasury stock, shares (in shares)	18,828,806	18,148,925

CONSOLIDATED STATEMENTS OF OPER

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

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 100	$ 124	$ 189	$ 239
Other comprehensive (loss) income, net of tax:
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	(8)	(12)	(6)	(8)
Changes in unrealized gains and losses on forward interest rate swap hedging transactions	0	1	0	1
Foreign currency translation adjustment	1	2	(8)	2
Comprehensive income	$ 93	$ 115	$ 175	$ 234

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	AOCI Attributable to Parent
Beginning balance (in shares) at Dec. 31, 2018		53,871,184
Beginning balance at Dec. 31, 2018	$ 1,335	$ 1	$ 294	$ (613)	$ 1,688	$ (35)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		110,382
Issuances of treasury shares related to share based-compensation plans, net of forfeitures	4		1	3
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(5,829)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(1)			(1)
Share-based compensation	10		10
Net income	115				115
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	4					4
Ending balance (in shares) at Mar. 30, 2019		53,975,737
Ending balance at Mar. 30, 2019	1,467	$ 1	305	(611)	1,803	(31)
Beginning balance (in shares) at Dec. 31, 2018		53,871,184
Beginning balance at Dec. 31, 2018	1,335	$ 1	294	(613)	1,688	(35)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	239
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	(8)
Changes in unrealized gains and losses on forward interest rate swap hedging transactions (net of income taxes)	1
Foreign currency translation adjustment	2
Ending balance (in shares) at Jun. 29, 2019		54,107,829
Ending balance at Jun. 29, 2019	1,559	$ 1	314	(643)	1,927	(40)
Beginning balance (in shares) at Mar. 30, 2019		53,975,737
Beginning balance at Mar. 30, 2019	1,467	$ 1	305	(611)	1,803	(31)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		345,067
Issuances of treasury shares related to share based-compensation plans, net of forfeitures	4		(5)	9
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(212,975)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(41)			(41)
Share-based compensation	14		14
Net income	124				124
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	(12)					(12)
Changes in unrealized gains and losses on forward interest rate swap hedging transactions (net of income taxes)	1					1
Foreign currency translation adjustment	2					2
Ending balance (in shares) at Jun. 29, 2019		54,107,829
Ending balance at Jun. 29, 2019	1,559	$ 1	314	(643)	1,927	(40)
Beginning balance (in shares) at Dec. 31, 2019		54,002,932
Beginning balance at Dec. 31, 2019	1,839	$ 1	339	(689)	2,232	(44)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		15,792
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(4,361)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(1)			(1)
Share-based compensation	7		7
Repurchase of common stock (in shares)		(948,740)
Repurchases of common stock	(200)			(200)
Net income	89				89
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	2					2
Foreign currency translation adjustment	(9)					(9)
Ending balance (in shares) at Mar. 28, 2020		53,065,623
Ending balance at Mar. 28, 2020	1,727	$ 1	346	(890)	2,321	(51)
Beginning balance (in shares) at Dec. 31, 2019		54,002,932
Beginning balance at Dec. 31, 2019	1,839	$ 1	339	(689)	2,232	(44)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	189
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	(6)
Changes in unrealized gains and losses on forward interest rate swap hedging transactions (net of income taxes)	0
Foreign currency translation adjustment	(8)
Ending balance (in shares) at Jun. 27, 2020		53,323,051
Ending balance at Jun. 27, 2020	1,803	$ 1	350	(911)	2,421	(58)
Beginning balance (in shares) at Mar. 28, 2020		53,065,623
Beginning balance at Mar. 28, 2020	1,727	$ 1	346	(890)	2,321	(51)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		399,634
Issuances of treasury shares related to share based-compensation plans, net of forfeitures	4		(9)	13
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(142,206)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(34)			(34)
Share-based compensation	13		13
Net income	100				100
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	(8)					(8)
Changes in unrealized gains and losses on forward interest rate swap hedging transactions (net of income taxes)	0
Foreign currency translation adjustment	1					1
Ending balance (in shares) at Jun. 27, 2020		53,323,051
Ending balance at Jun. 27, 2020	$ 1,803	$ 1	$ 350	$ (911)	$ 2,421	$ (58)

CONSOLDATED STATEMENTS OF CASH

CONSOLDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Cash flows from operating activities:
Net income	$ 189	$ 239
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	68	95
Amortization of debt issuance costs and discounts	1	2
Share-based compensation	20	24
Deferred income taxes	6	(3)
Unrealized loss on forward interest rate swaps	37	23
Other, net	(6)	(2)
Changes in operating assets and liabilities:
Accounts receivable, net	201	(37)
Inventories, net	(36)	49
Other assets	4	(9)
Accounts payable	(46)	(81)
Accrued liabilities	(76)	(86)
Deferred revenue	45	30
Income taxes	(48)	(50)
Other operating activities	(4)	1
Net cash provided by operating activities	355	195
Cash flows from investing activities:
Purchases of property, plant and equipment	(33)	(30)
Acquisition of businesses, net of cash acquired	0	(266)
Proceeds from sale of long-term investments	0	10
Purchases of long-term investments	(32)	(20)
Net cash used in investing activities	(65)	(306)
Cash flows from financing activities:
Payments of long-term debt	(84)	(81)
Proceeds from issuance of long-term debt	24	206
Payments for repurchases of common stock	(200)	0
Net payments related to share-based compensation plans	(31)	(34)
Change in unremitted cash collections from servicing factored receivables	55	3
Other financing activities	3	0
Net cash (used in) provided by financing activities	(233)	94
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	(1)	0
Net increase (decrease) in cash and cash equivalents, including restricted cash	56	(17)
Cash and cash equivalents, including restricted cash, at beginning of period	30	44
Cash and cash equivalents, including restricted cash, at end of period	86	27
Less restricted cash, included in Prepaid expenses and other current assets	(23)	0
Cash and cash equivalents	63	27
Supplemental disclosures of cash flow information:
Income taxes paid	61	73
Interest paid	$ 19	$ 33

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Zebra Technologies Corporation and its subsidiaries (“Zebra” or the “Company”) is a global leader providing innovative Enterprise Asset Intelligence solutions in the automatic identification and data capture solutions industry. We design, manufacture, and sell a broad range of products that capture and move data. We also provide a full range of services, including maintenance, technical support, repair, and managed services, including cloud-based subscriptions. End-users of our products and services include those in retail and e-commerce, transportation and logistics, manufacturing, healthcare, hospitality, warehouse and distribution, energy and utilities, and education industries around the world. We provide our products and services globally through a direct sales force and an extensive network of channel partners. Management prepared these unaudited interim consolidated financial statements according to the rules and regulations of the Securities and Exchange Commission for interim financial information and notes. As permitted under Article 10 of Regulation S-X and the instructions of Form 10-Q, these consolidated financial statements do not include all the information and notes required by United States Generally Accepted Accounting Principles (“GAAP”) for complete financial statements, although management believes that the disclosures made are adequate to make the information not misleading. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2019. In the opinion of the Company, these interim financial statements include all adjustments (of a normal, recurring nature) necessary to fairly present its Consolidated Balance Sheet as of June 27, 2020, the Consolidated Statements of Operations, Comprehensive Income, and Stockholders’ Equity for the three and six months ended June 27, 2020 and June 29, 2019, and the Consolidated Statements of Cash Flows for the six months ended June 27, 2020 and June 29, 2019. These results, however, are not necessarily indicative of the results expected for the full fiscal year ending December 31, 2020.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 27, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Recently Adopted Accounting Pronouncements On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments-Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. It replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. With respect to the Company’s financial assets, including trade receivables and contract assets, a cumulative effect transition approach was applied. In order to determine the transition impact of ASU 2016-13, the Company considered historical loss experience, the short duration of its trade receivables and durations of other financial assets, and expectations of the future economic environment. The adoption of ASU 2016-13 did not have a significant impact to the Company’s financial statements upon transition or for the six months ended June 27, 2020. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). Subject to meeting certain criteria, ASU 2020-04 provides optional expedients and exceptions to applying contract modification accounting under existing generally accepted accounting principles, for contracts that are modified to address the expected phase out of the London Inter-bank Offered Rate (“LIBOR”) by the end of 2021. Some of the Company’s contracts with respect to its borrowings and interest rate swap contracts already contain comparable alternative reference rates that would automatically take effect upon the phasing out of LIBOR, while for others, the Company anticipates negotiating comparable replacement rates with its counterparties. At this stage of its contract assessment, the Company does not expect ASU 2020-04 to have a material impact to its financial statements.

Revenues

Revenues	6 Months Ended
	Jun. 27, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The Company recognizes revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration which it expects to receive for providing those goods or services. We recognize revenue arising from performance obligations outlined in contracts with our customers that are satisfied at a point in time and over time. Substantially all revenue for tangible products is recognized at a point in time, whereby revenue for services and software is predominantly recognized over time. Disaggregation of Revenue The following table presents our Net sales disaggregated by category for each of our segments, Asset Intelligence & Tracking (“AIT”) and Enterprise Visibility & Mobility (“EVM”), for the three and six months ended June 27, 2020 and June 29, 2019 (in millions): Three Months Ended June 27, 2020 June 29, 2019 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 251 $ 24 $ 275 $ 344 $ 26 $ 370 EVM 560 121 681 619 108 727 Total $ 811 $ 145 $ 956 $ 963 $ 134 $ 1,097 Six Months Ended June 27, 2020 June 29, 2019 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 584 $ 62 $ 646 $ 664 $ 63 $ 727 EVM 1,128 234 1,362 1,223 213 1,436 Total $ 1,712 $ 296 $ 2,008 $ 1,887 $ 276 $ 2,163 In addition, refer to Note 16, Segment Information & Geographic Data for Net sales to customers by geographic region. Performance Obligations The Company’s remaining obligations that are greater than one year in duration relate primarily to repair and support services. The aggregated transaction price allocated to remaining performance obligations related to these types of service arrangements, inclusive of deferred revenue, was $736 million and $724 million as of June 27, 2020 and December 31, 2019, respectively. On average, remaining performance obligations as of June 27, 2020 and December 31, 2019 are expected to be recognized over a period of approximately two years. Contract Balances Progress on satisfying performance obligations under contracts with customers is recorded on the Consolidated Balance Sheets in Accounts receivable, net for billed revenues. Progress on satisfying performance obligations under contracts with customers related to unbilled revenues (“contract assets”) is reflected on the Consolidated Balance Sheets as Prepaid expenses and other current assets for revenues expected to be billed within the next 12 months, and Other long-term assets for revenues expected to be billed thereafter. The total contract asset balances were $6 million and $8 million as of June 27, 2020 and December 31, 2019, respectively. These contract assets result from timing differences between the billing and delivery schedules of products, services and software, as well as the impact from the allocation of the transaction price among performance obligations for contracts that include multiple performance obligations. Contract assets are evaluated for impairment and no impairment losses have been recognized during the three and six months ended June 27, 2020 and June 29, 2019. Deferred revenue on the Consolidated Balance Sheets consists of payments and billings in advance of our performance. The combined short-term and long-term deferred revenue balances were $505 million and $459 million as of June 27, 2020 and December 31, 2019, respectively. During the three and six months ended June 27, 2020 the Company recognized $84 million and $157 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue as of December 31, 2019. During the three and six months ended June 29, 2019 the Company recognized $57 million and $127 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue as of December 31, 2018.

Inventories

Inventories	6 Months Ended
	Jun. 27, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories The components of Inventories, net are as follows (in millions): June 27, December 31, Raw material $ 122 $ 128 Work in process 5 4 Finished goods 386 342 Total Inventories, net $ 513 $ 474

Investments

Investments	6 Months Ended
	Jun. 27, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The carrying value of the Company’s investments was $84 million and $45 million as of June 27, 2020 and December 31, 2019, respectively, which are included in Other long-term assets on the Consolidated Balances Sheets. During first half of 2020, the Company paid $32 million for the purchases of long term investments, which primarily related to the acquisition of additional shares in an existing investment in the second quarter of 2020. In connection with this additional investment, the Company identified an observable price change that resulted in a $7 million gain on its existing investment. Net gains and losses related to the Company’s investments are included within Other, net on the Consolidated Statements of Operations. During the three and six months ended June 27, 2020, the Company recognized unrealized gains of $7 million, as described above. During the three and six months ended June 29, 2019, the Company recognized net gains of $4 million and $3 million, respectively.

Exit and Restructuring Costs

Exit and Restructuring Costs	6 Months Ended
	Jun. 27, 2020
Restructuring and Related Activities [Abstract]
Exit and Restructuring Costs	Exit and Restructuring Costs In the fourth quarter of 2019, the Company committed to certain organizational changes designed to generate operational efficiencies (collectively referred to as the “2019 Productivity Plan”). The organizational design changes under the 2019 Productivity Plan will principally occur within the North America and Europe, Middle East, and Africa (“EMEA”) regions, relate primarily to employee severance and related benefits, and are expected to be substantially completed in fiscal 2020. Exit and restructuring charges for the 2019 Productivity Plan were $2 million and $6 million during the three and six months ended June 27, 2020, respectively, and $14 million cumulatively through the quarter ended June 27, 2020. Estimated remaining costs to be incurred in fiscal 2020 under the 2019 Productivity Plan are expected to be up to $4 million. As of June 27, 2020, the Company’s total remaining obligations under its exit and restructuring programs were $5 million, which are expected to be mostly settled within the next year and are reflected within Accrued liabilities on the Consolidated Balance Sheets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 27, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets and liabilities are measured using inputs from three levels of the fair value hierarchy in accordance with Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into the following three broad levels: • Level 1: Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs (e.g. U.S. Treasuries and money market funds). • Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. • Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs to the extent possible. In addition, the Company considers counterparty credit risk in the assessment of fair value. The Company’s financial assets and liabilities carried at fair value as of June 27, 2020, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Money market investments related to the deferred compensation plan $ 25 $ — $ — $ 25 Total Assets at fair value $ 25 $ — $ — $ 25 Liabilities: Foreign exchange contracts (1) $ 3 $ 5 $ — $ 8 Forward interest rate swap contracts (2) — 50 — 50 Liabilities related to the deferred compensation plan 25 — — 25 Total Liabilities at fair value $ 28 $ 55 $ — $ 83 The Company’s financial assets and liabilities carried at fair value as of December 31, 2019, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ — $ 3 $ — $ 3 Money market investments related to the deferred compensation plan 24 — — 24 Total Assets at fair value $ 24 $ 3 $ — $ 27 Liabilities: Forward interest rate swap contracts (2) $ — $ 13 $ — $ 13 Liabilities related to the deferred compensation plan 24 — — 24 Total Liabilities at fair value $ 24 $ 13 $ — $ 37 (1) The fair value of the foreign exchange contracts is calculated as follows: a. Fair value of regular forward contracts associated with forecasted sales hedges is calculated using the period-end exchange rate adjusted for current forward points. b. Fair value of hedges against net assets is calculated at the period-end exchange rate adjusted for current forward points unless the hedge has been traded but not settled at period end (Level 2). If this is the case, the fair value is calculated at the rate at which the hedge is being settled (Level 1).

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 27, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments In the normal course of business, the Company is exposed to global market risks, including the effects of changes in foreign currency exchange rates and interest rates. The Company uses derivative instruments to manage its exposure to such risks and may elect to designate certain derivatives as hedging instruments under ASC Topic 815, Derivatives and Hedging (“ASC 815”). The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. The Company does not hold or issue derivatives for trading or speculative purposes. In accordance with ASC 815, the Company recognizes derivative instruments as either assets or liabilities on the Consolidated Balance Sheets and measures them at fair value. The following table presents the fair value of its derivative instruments (in millions): (Liability) Asset Fair Values as of Balance Sheet Classification June 27, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ — $ 3 Foreign exchange contracts Accrued liabilities (5) — Total derivative instruments designated as hedges $ (5) $ 3 Derivative instruments not designated as hedges: Foreign exchange contracts Accrued liabilities $ (3) $ — Forward interest rate swaps Accrued liabilities (17) (5) Forward interest rate swaps Other long-term liabilities (33) (8) Total derivative instruments not designated as hedges $ (53) $ (13) Total net derivative liability $ (58) $ (10) The following table presents the losses from changes in fair values of derivatives that are not designated as hedges (in millions): Losses Recognized in Income Three Months Ended Six Months Ended Statements of Operations Classification June 27, June 29, June 27, June 29, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange loss $ (7) $ (1) $ (8) $ (3) Forward interest rate swaps Interest expense, net (7) (15) (42) (23) Total loss recognized in income $ (14) $ (16) $ (50) $ (26) Activities related to derivative instruments are reflected within Net cash provided by operating activities on the Consolidated Statements of Cash Flows. Credit and Market Risk Management Financial instruments, including derivatives, expose the Company to counterparty credit risk of nonperformance and to market risk related to currency exchange rate and interest rate fluctuations. The Company manages its exposure to counterparty credit risk by establishing minimum credit standards, diversifying its counterparties, and monitoring its concentrations of credit. The Company’s counterparties are commercial banks with expertise in derivative financial instruments. The Company evaluates the impact of market risk on the fair value and cash flows of its derivative and other financial instruments by considering reasonably possible changes in interest rates and currency exchange rates. The Company continually monitors the creditworthiness of the customers to which it grants credit terms in the normal course of business. The terms and conditions of the Company’s credit policies are designed to mitigate concentrations of credit risk. The Company’s master netting and other similar arrangements with the respective counterparties allow for net settlement under certain conditions, which are designed to reduce credit risk by permitting net settlement with the same counterparty. We present the assets and liabilities of our derivative financial instruments, for which we have net settlement agreements in place, on a net basis on the Consolidated Balance Sheets. If the derivative financial instruments had been presented gross on the Consolidated Balance Sheets, the asset and liability positions each would have been increased by $2 million and $3 million as of June 27, 2020 and December 31, 2019, respectively. Foreign Currency Exchange Risk Management The Company conducts business on a multinational basis in a variety of foreign currencies. Exposure to market risk for changes in foreign currency exchange rates arises primarily from Euro-denominated external revenues, cross-border financing activities between subsidiaries, and foreign currency denominated monetary assets and liabilities. The Company manages its objective of preserving the economic value of non-functional currency denominated cash flows by initially hedging transaction exposures with natural offsets to the fullest extent possible and, once these opportunities have been exhausted, through foreign exchange forward and option contracts, as deemed appropriate. The Company manages the exchange rate risk of anticipated Euro-denominated sales using forward contracts, which typically mature within twelve months of execution. The Company designates these derivative contracts as cash flow hedges. Unrealized gains and losses on these contracts are deferred in Accumulated other comprehensive income (loss) (“AOCI”) on the Consolidated Balance Sheets until the contract is settled and the hedged sale is realized. The realized gain or loss is then recorded as an adjustment to Net sales on the Consolidated Statements of Operations. Realized gains reclassified to Net sales were $6 million and $11 million for the three months ended June 27, 2020 and June 29, 2019, respectively. For the six months ended June 27, 2020 and June 29, 2019, realized gains were $14 million and $22 million, respectively. As of June 27, 2020 and December 31, 2019, the notional amounts of the Company’s foreign exchange cash flow hedges were €492 million and €564 million, respectively. The Company has reviewed its cash flow hedges for effectiveness and determined they are highly effective. The Company uses forward contracts, which are not designated as hedging instruments, to manage its exposures related to net assets denominated in foreign currencies. These forward contracts typically mature within one month after execution. Monetary gains and losses on these forward contracts are recorded in income and are generally offset by the transaction gains and losses related to their net asset positions. The notional values and the net fair value of these outstanding contracts are as follows (in millions): June 27, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 12 £ 14 Euro/U.S. Dollar € 52 € 36 Canadian Dollar/U.S. Dollar $ 1 $ 1 Australian Dollar/U.S. Dollar A$ 7 A$ 42 Japanese Yen/U.S. Dollar ¥ 269 ¥ 264 Singapore Dollar/U.S. Dollar S$ 20 S$ 19 Mexican Peso/U.S. Dollar Mex$ 125 Mex$ 115 Chinese Yuan/U.S. Dollar ¥ 46 ¥ — South African Rand/U.S. Dollar R 39 R 42 Net fair value of liabilities of outstanding contracts $ (3) $ — The Company’s use of non-designated forward contracts to manage Euro currency exposure is limited, as Euro-denominated borrowings under the Revolving Credit Facility naturally hedge part of such risk. See Note 9, Long-Term Debt for further discussion of Euro-denominated borrowings. Interest Rate Risk Management The Company’s debt consists of borrowings under a term loan (“Term Loan A”), Revolving Credit Facility and Receivables Financing Facilities, which bear interest at variable rates plus applicable margins. As a result, the Company is exposed to market risk associated with the variable interest rate payments on these borrowings. See Note 9, Long-Term Debt for further details about these borrowings. The Company manages its exposure to changes in interest rates by utilizing interest rate swaps to hedge this exposure and to achieve a desired proportion of fixed versus floating-rate debt, based on current and projected market conditions. In December 2017, the Company entered into a long-term forward interest rate swap agreement with a notional amount of $800 million to lock into a fixed LIBOR interest rate base for its debt facilities, subject to monthly interest payments. Under the terms of the agreement, $800 million in variable-rate debt will be swapped for a fixed interest rate with net settlement terms starting in December 2018 and ending in December 2022. During the third quarter of 2019, the Company entered into additional long-term forward interest rate swap agreements with a total notional amount of $800 million, containing net settlement terms starting in December 2022 and ending in August 2024. The additional interest rate swap agreements effectively extend the risk management initiative of the Company to coincide with the maturities of Term Loan A and the Revolving Credit Facility. The Company’s active interest rate swaps are not designated as hedges and changes in fair value are recognized immediately as Interest expense, net on the Consolidated Statements of Operations.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 27, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table shows the carrying value of the Company’s debt (in millions): June 27, December 31, Term Loan A $ 917 $ 917 Revolving Credit Facility 81 103 Receivables Financing Facilities 229 266 Total debt $ 1,227 $ 1,286 Less: Debt issuance costs (5) (6) Less: Unamortized discounts (3) (3) Less: Current portion of debt (233) (197) Total long-term debt $ 986 $ 1,080 As of June 27, 2020, the future maturities of debt, excluding debt discounts and issuance costs, were as follows (in millions): 2020 $ 24 2021 234 2022 57 2023 81 2024 831 Total future debt maturities $ 1,227 All borrowings as of June 27, 2020 were denominated in U.S. Dollars, except for €72 million under the Revolving Credit Facility that was borrowed in Euros. The estimated fair value of the Company’s debt approximated $1.2 billion and $1.3 billion as of June 27, 2020 and December 31, 2019, respectively. These fair value amounts, developed based on inputs classified as Level 2 within the fair value hierarchy, represent the estimated value at which the Company’s lenders could trade its debt within the financial markets and do not represent the settlement value of these liabilities to the Company. The fair value of the debt will continue to vary each period based on a number of factors, including fluctuations in market interest rates as well as changes to the Company’s credit ratings. Credit Facilities The principal on Term Loan A is due in quarterly installments, with the next quarterly installment due in June 2021 and the majority due upon its August 9, 2024 maturity. The Company may make prepayments against Term Loan A, in whole or in part, without premium or penalty. The Company would be required to prepay certain outstanding amounts in the event of certain circumstances or transactions. As of June 27, 2020, the Term Loan A interest rate was 1.43%. Interest payments are made monthly and are subject to variable rates plus an applicable margin. The Revolving Credit Facility is available for working capital and other general corporate purposes, including letters of credit. As of June 27, 2020, the Company had letters of credit totaling $4 million, which reduced funds available for borrowings under the Revolving Credit Facility from $1 billion to $996 million. As of June 27, 2020, the Revolving Credit Facility had an average interest rate of 1.25%. Interest payments are made monthly and are subject to variable rates plus an applicable margin. All remaining principal is due upon the Revolving Credit Facility’s maturity on August 9, 2024. Receivables Financing Facilities The Company has two Receivables Financing Facilities with financial institutions carrying total borrowing limits of up to $280 million. As collateral, the Company pledges perfected first-priority security interests in its U.S. domestically originated accounts receivable. The Company has accounted for transactions under its Receivables Financing Facilities as secured borrowings. The Company’s first Receivables Financing Facility, which was originally entered into in December 2017 and was amended in May 2019, allows for borrowings of up to $180 million and will mature on March 29, 2021. The Company’s second Receivable Financing Facility, which was entered into in May 2019 and was amended in May 2020, allows for borrowings of up to $100 million and will mature on May 17, 2021. As of June 27, 2020, the Company’s Consolidated Balance Sheets included $417 million of receivables that were pledged under the two Receivables Financing Facilities. As of June 27, 2020, $229 million had been borrowed, all of which was classified as current. Borrowings under the Receivables Financing Facilities bear interest at a variable rate plus an applicable margin. As of June 27, 2020, the Receivables Financing Facilities had an average interest rate of 1.13%. Interest is paid on these borrowings on a monthly basis. Both the Credit Facilities and Receivables Financing Facilities include terms and conditions that limit the incurrence of additional borrowings and require that certain financial ratios be maintained at designated levels. The Company uses interest rate swaps to manage the interest rate risk associated with its debt. See Note 8 , Derivative Instruments for further information. As of June 27, 2020, the Company was in compliance with all debt covenants.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 27, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Warranties The following table is a summary of the Company’s accrued warranty obligations, which are included in Accrued liabilities on the Consolidated Balance Sheets (in millions): Six Months Ended June 27, June 29, Balance at the beginning of the period $ 21 $ 22 Warranty expense 15 12 Warranties fulfilled (14) (12) Balance at the end of the period $ 22 $ 22 Contingencies

Income Taxes

Income Taxes	6 Months Ended
	Jun. 27, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three and six months ended June 27, 2020 were 2.9% and 8.3%, respectively. The Company’s effective tax rate for the three and six months ended June 29, 2019 were 3.9% and 8.1%, respectively. In both the current and prior year periods, the variance from the 21% federal statutory rate was attributable to the benefits of lower tax rates on foreign earnings and U.S. tax credits. These benefits were partially offset by the impacts of foreign earnings taxed in the U.S. and deemed royalties taxed in the U.S. The Company’s effective tax rate also benefited from certain discrete items, primarily related to share-based compensation. On March 27, 2020, the President of the United States signed into tax law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The Company does not believe any of the provisions will materially impact its 2020 effective tax rate. Management continues to monitor developments and guidance on the CARES Act and other coronavirus (“COVID-19”) tax relief throughout the world for potential impacts. The Company earns a significant amount of its operating income outside of the U.S. Pre-tax earnings outside the U.S. are primarily generated in the United Kingdom, Singapore, and Luxembourg, with statutory rates of 19%, 17%, and 25%, respectively. The Company has received an incentivized tax rate by the Singapore Economic Development Board, which reduces the income tax rate to 10.5% from the statutory rate of 17%, and is effective for calendar years 2019 to 2023. The Company has committed to making additional investments in Singapore over the period 2019 to 2022. However, should the Company not make these investments in accordance with the agreement, any incentive benefit would have to be repaid to the Singapore tax authorities. The Company is not permanently reinvested with respect to its U.S. directly-owned foreign subsidiaries. For periods after 2017, the Company is subject to U.S. income tax on substantially all foreign earnings under the Global Intangible Low-Taxed Income provisions of the Tax Cuts and Jobs Act (the “Act”) enacted in December 2017, while any remaining foreign earnings are eligible for a dividends received deduction under the Act. As a result, future repatriations of earnings will no longer be subject to U.S. income tax but may be subject to currency gains or losses. Additionally, gains and losses on any future taxable dispositions of U.S.-owned foreign affiliates continue to be subject to U.S. tax. Management evaluates all jurisdictions based on historical pre-tax earnings and taxable income to determine the need for valuation allowances on a quarterly basis. Based on this analysis, a valuation allowance has been recorded for any jurisdictions where, in the Company’s judgment, tax benefits are not expected to be realized. Uncertain Tax Positions The Company is currently undergoing U.S. federal income tax audits for the tax years 2016 and 2017. The Company expects the U.S. federal income tax audit for tax year 2016 to close in the third quarter of 2020, which is expected to have an immaterial impact to the financial statements. The Company was also notified that the U.S. federal income tax audit for tax year 2018 will commence in the third quarter of 2020. Additionally, fiscal years 2004 through 2018 remain open to examination by multiple foreign and U.S. state taxing jurisdictions. As of June 27, 2020, no significant uncertain tax positions are expected to be settled within the next twelve months. Due to uncertainties in any tax audit or litigation outcome, the Company’s estimates of the ultimate settlements of uncertain tax positions may change and the actual tax benefits may differ significantly from estimates.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 27, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic net earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares assuming dilution. Dilutive common shares outstanding is computed using the Treasury Stock method and, in periods of income, reflects the additional shares that would be outstanding if dilutive stock options were exercised for common shares during the period. Earnings per share (in millions, except share data): Three Months Ended Six Months Ended June 27, June 29, June 27, June 29, Basic: Net income $ 100 $ 124 $ 189 $ 239 Weighted-average shares outstanding 53,188,486 54,027,576 53,533,116 53,965,181 Basic earnings per share $ 1.87 $ 2.28 $ 3.53 $ 4.43 Diluted: Net income $ 100 $ 124 $ 189 $ 239 Weighted-average shares outstanding 53,188,486 54,027,576 53,533,116 53,965,181 Dilutive shares 487,244 621,123 522,208 637,191 Diluted weighted-average shares outstanding 53,675,730 54,648,699 54,055,324 54,602,372 Diluted earnings per share $ 1.85 $ 2.26 $ 3.49 $ 4.37 Anti-dilutive options to purchase common shares are excluded from diluted earnings per share calculations. There were 108,950 and 61,239 shares that were anti-dilutive for the three months ended June 27, 2020 and June 29, 2019, respectively. There were 89,091 and 32,882 shares that were anti-dilutive for the six months ended June 27, 2020 and June 29, 2019, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 27, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Stockholders’ equity includes certain items classified as AOCI, including: • Unrealized (loss) gain on anticipated sales hedging transactions relates to derivative instruments used to hedge the exposure related to currency exchange rates for forecasted Euro sales. These hedges are designated as cash flow hedges, and the Company defers income statement recognition of gains and losses until the hedged transaction occurs. See Note 8, Derivative Instruments for more details. • Unrealized loss on forward interest rate swaps hedging transactions relates to certain interest rate swaps that the Company previously entered into as part of its strategy to mitigate interest rate risk exposure associated with its variable rate debt. These particular interest rate swaps, which were designated as cash flow hedges, were terminated prior to 2019, with remaining losses being reclassified out of AOCI through the third quarter of 2019. Pre-tax losses were reclassified into Interest expense, net on the Consolidated Statements of Operations. • Foreign currency translation adjustments relate to the Company’s non-U.S. subsidiary companies that have designated a functional currency other than the U.S. Dollar. The Company is required to translate the subsidiary functional currency financial statements to U.S. Dollars using a combination of historical, period end, and average foreign exchange rates. This combination of rates creates the foreign currency translation adjustment component of AOCI. The components of AOCI for the six months ended June 27, 2020 and June 29, 2019 are as follows (in millions): Unrealized (loss) gain on sales hedging Unrealized loss on forward interest rate swaps Foreign currency translation adjustments Total Balance at December 31, 2018 $ 12 $ — $ (47) $ (35) Other comprehensive income before reclassifications 12 — 2 14 Amounts reclassified from AOCI (1) (22) 1 — (21) Tax effect 2 — — 2 Other comprehensive (loss) income, net of tax (8) 1 2 (5) Balance at June 29, 2019 $ 4 $ 1 $ (45) $ (40) Balance at December 31, 2019 $ 2 $ — $ (46) $ (44) Other comprehensive (loss) income before reclassifications 7 — (8) (1) Amounts reclassified from AOCI (1) (14) — — (14) Tax effect 1 — — 1 Other comprehensive loss, net of tax (6) — (8) (14) Balance at June 27, 2020 $ (4) $ — $ (54) $ (58) (1) See Note 8, Derivative Instruments

Accounts Receivable Factoring

Accounts Receivable Factoring	6 Months Ended
	Jun. 27, 2020
Transfers and Servicing [Abstract]
Accounts Receivable Factoring	Accounts Receivable Factoring The Company has multiple Receivables Factoring arrangements, pursuant to which certain receivables are sold to banks without recourse in exchange for cash. Transactions under the Receivables Factoring arrangements are accounted for as sales under ASC 860, Transfers and Servicing of Financial Assets , with the sold receivables removed from the Company’s balance sheet. Under these Receivables Factoring arrangements, the Company does not maintain any beneficial interest in the receivables sold. The banks’ purchase of eligible receivables is subject to a maximum amount of uncollected receivables. The Company services the receivables on behalf of the banks, but otherwise maintains no significant continuing involvement with respect to the receivables. Sale proceeds that are representative of the fair value of factored receivables, less a factoring fee, are reflected in Net cash provided by operating activities on the Consolidated Statements of Cash Flows, while sale proceeds in excess of the fair value of factored receivables are reflected in Net cash provided by financing activities on the Consolidated Statements of Cash Flows. In May 2020, the Company entered into a new Receivables Factoring arrangement with a bank, which allows for the factoring of up to €150 million of uncollected receivables originated from the EMEA and Asia-Pacific regions. The Company is required to maintain a portion of sales proceeds as deposits in a restricted cash account that is released to the Company as it satisfies its obligations as servicer of sold receivables, which totaled $23 million as of June 27, 2020 and is classified within Prepaid expenses and other current assets on the Consolidated Balance Sheets. The Company’s other active Receivable Factoring arrangements, which were entered into prior to 2020, also allow for the factoring of up to $125 million of uncollected receivables originated from the EMEA region. During the six months ended June 27, 2020 and June 29, 2019, the Company received cash proceeds of $508 million and $143 million, respectively, from the sales of accounts receivables under its factoring arrangements. As of June 27, 2020 and December 31, 2019, there were a total of $103 million and $60 million, respectively, of uncollected receivables that had been sold and removed from the Company’s Consolidated Balance Sheets. As servicer of sold receivables, the Company had $88 million and $33 million of obligations that were not yet remitted to banks as of June 27, 2020 and December 31, 2019, respectively. These obligations are included within Accrued liabilities on the Consolidated Balance Sheets, with changes in such obligations reflected within Net cash (used in) provided by financing activities on the Consolidated Statements of Cash Flows. Fees incurred in connection with these arrangements were not significant.

Segment Information & Geographi

Segment Information & Geographic Data	6 Months Ended
	Jun. 27, 2020
Segment Reporting [Abstract]
Segment Information & Geographic Data	Segment Information & Geographic Data The Company’s operations consist of two reportable segments: Asset Intelligence & Tracking (“AIT”) and Enterprise Visibility & Mobility (“EVM”). The reportable segments have been identified based on the financial data utilized by the Company’s Chief Executive Officer (the chief operating decision maker or “CODM”) to assess segment performance and allocate resources among the Company’s segments. The CODM reviews adjusted operating income to assess segment profitability. To the extent applicable, segment operating income excludes purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, and product sourcing diversification costs. Segment assets are not reviewed by the Company’s CODM and therefore are not disclosed below. Financial information by segment is presented as follows (in millions): Three Months Ended Six Months Ended June 27, June 29, June 27, June 29, Net sales: AIT $ 275 $ 370 $ 646 $ 727 EVM 681 727 1,362 1,436 Total Net sales $ 956 $ 1,097 $ 2,008 $ 2,163 Operating income: AIT (1) $ 48 $ 84 $ 137 $ 176 EVM (1) 93 113 181 214 Total segment operating income 141 197 318 390 Corporate, eliminations (2) (22) (37) (48) (71) Total Operating income $ 119 $ 160 $ 270 $ 319 (1) AIT and EVM segment operating income includes depreciation and share-based compensation expense. The amounts of depreciation and share-based compensation expense attributable to AIT and EVM are proportionate to each segment’s Net sales. (2) To the extent applicable, amounts included in Corporate, eliminations consist of purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, and product sourcing diversification costs. Information regarding the Company’s operations by geographic area is contained in the following table. Net sales amounts are attributed to geographic area based on customer location. We manage our business based on regions rather than by individual countries. Geographic data for Net sales is as follows (in millions): Three Months Ended Six Months Ended June 27, June 29, June 27, June 29, North America $ 502 $ 540 $ 1,021 $ 1,050 EMEA 306 360 694 736 Asia-Pacific 110 141 207 266 Latin America 38 56 86 111 Total Net sales $ 956 $ 1,097 $ 2,008 $ 2,163

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation On May 17, 2018, the Company’s stockholders approved the Zebra Technologies 2018 Long-Term Incentive Plan (“2018 Plan”). The 2018 Plan superseded and replaced the Zebra Technologies Corporation 2015 Long-Term Incentive Plan (“2015 Plan”) on the approval date, except that the 2015 Plan remains in effect with respect to outstanding awards under the 2015 Plan until such awards have been exercised, forfeited, expired or otherwise terminated in accordance with their terms. Together, the 2018 Plan and 2015 Plan provide for incentive compensation to the Company’s non-employee directors, officers and employees. The awards available under the plans include stock appreciation rights, restricted stock awards, performance share awards, cash-settled stock appreciation rights, restricted stock units, performance stock units, incentive stock options, and non-qualified stock options. The Company uses outstanding treasury shares as its source for issuing shares under the share-based compensation programs. A summary of the equity awards available for future grants under the 2018 Plan is as follows: Available for future grants as of December 31, 2019 3,484,960 Granted (268,235) Cancellation and forfeitures 986 Available for future grants as of June 27, 2020 3,217,711 The compensation expense from the Company’s share-based compensation plans and associated income tax benefit, excluding the effects of excess tax benefits or shortfalls, were included in the Consolidated Statements of Operations as follows (in millions): Three Months Ended Six Months Ended Compensation costs and related income tax benefit June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Cost of sales $ 1 $ 1 $ 2 $ 2 Selling and marketing 5 4 6 8 Research and development 4 4 6 8 General and administration 7 9 9 13 Total compensation expense $ 17 $ 18 $ 23 $ 31 Income tax benefit $ 2 $ 3 $ 4 $ 5 As of June 27, 2020, total unearned compensation costs related to the Company’s share-based compensation plans was $87 million, which will be recognized over the weighted average remaining service period of 2.1 years. Stock Appreciation Rights (“SARs”) Upon exercise of SARs, the Company issues whole shares of Class A Common Stock to participants based on the difference between the fair market value of the stock at the time of exercise and the exercise price. Fractional shares are settled in cash upon exercise. The grant date fair value of SARs is expensed over the 4-year vesting period of the related awards. A summary of the Company’s SARs for the six months ended June 27, 2020 is as follows: SARs SARs Weighted-Average Grant Date Exercise Price Outstanding at beginning of period 896,923 $ 89.05 Granted 64,727 244.97 Exercised (178,625) 73.21 Forfeited (8,954) 89.57 Outstanding at end of period 774,071 $ 105.70 Exercisable at end of period 533,880 $ 77.28 The fair value of share-based compensation is estimated on the date of grant using a binomial model. Volatility is based on an average of the implied volatility in the open market and the annualized volatility of the Company’s stock price over its entire stock history. The following table shows the weighted-average assumptions used for grants of SARs, as well as the fair value of the grants based on those assumptions: June 27, June 29, Expected dividend yield 0% 0% Forfeiture rate 8.00% 8.20% Volatility 42.51% 36.79% Risk free interest rate 0.24% 2.28% Expected weighted-average life 4.00 4.02 Weighted-average grant date fair value of SARs granted $79.47 $64.17 The following table summarizes information about SARs outstanding as of June 27, 2020: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 109 $ 90 Weighted-average remaining contractual life 4.7 4.4 The intrinsic value for SARs exercised during the six months ended June 27, 2020 and June 29, 2019 was $31 million and $30 million, respectively. The total fair value of SARs vested during the six months ended June 27, 2020 and June 29, 2019 was $8 million and $9 million, respectively. Restricted Stock Awards (“RSAs”) and Performance Share Awards (“PSAs”) The Company’s restricted stock grants consist of time-vested RSAs and PSAs, which hold voting rights and therefore are considered participating securities. The outstanding RSAs and PSAs are included as part of the Company’s Class A Common Stock outstanding. The RSAs and PSAs vest at each vesting date, subject to restrictions such as continuous employment, except in certain cases as set forth in each stock agreement. Upon vesting, RSAs and PSAs are released to holders and are no longer subject to restrictions. The Company’s RSAs and PSAs are expensed over the vesting period of the related award, which is typically 3 years. Some awards, including those granted annually to non-employee directors as an equity retainer fee, vest upon grant. PSA targets are set based on certain Company-wide financial metrics. Compensation cost is calculated as the market date fair value of the Company’s Class A Common Stock on grant date multiplied by the number of shares granted, net of estimated forfeitures. The Company also issues stock awards to non-employee directors. Each director receives an equity grant of shares annually in the second quarter. The number of shares granted to each director is determined by dividing the value of the annual grant by the price of a share of the Company’s Class A Common Stock. During the first six months of 2020, there were 6,314 shares granted to non-employee directors compared to 7,371 shares during the first six months of 2019. The shares vest immediately on the grant date. A summary of the Company’s RSAs for the six months ended June 27, 2020 is as follows: RSAs Shares Weighted-Average Outstanding at beginning of period 434,641 $ 151.52 Granted 145,299 244.01 Released (268,063) 132.61 Forfeited (6,697) 159.57 Outstanding at end of period 305,180 $ 211.69 The fair value of each PSA granted includes assumptions around the Company’s performance goals. A summary of the Company’s PSAs for the six months ended June 27, 2020 is as follows: PSAs Shares Weighted-Average Outstanding at beginning of period 170,749 $ 144.47 Granted 98,174 239.44 Released (129,344) 159.76 Forfeited (280) 204.76 Outstanding at end of period 139,299 $ 198.21 Other Award Types The Company also has cash-settled compensation awards, including cash-settled stock appreciation rights, restricted stock units, and performance stock units, which are expensed over the vesting period of the related award of up to 4 years. Compensation cost is calculated at the fair value on grant date multiplied by the number of share-equivalents granted, and the fair value is remeasured at the end of each reporting period based on the Company’s stock price. Cash settlement is based on the fair value of share equivalents at the time of vesting, which was $5 million and $6 million for the six months ended June 27, 2020 and June 29, 2019, respectively. Share-equivalents granted under these programs totaled 16,194 and 17,207 during the six months ended June 27, 2020 and June 29, 2019, respectively.

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 27, 2020
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn July 27, 2020, Zebra entered into a definitive agreement under which Zebra agreed to acquire Reflexis Systems, Inc. The aggregate consideration of the transaction is expected to be approximately $575 million, subject to customary adjustments. Zebra expects to fund the transaction with a combination of cash on hand along with fully committed financing available under its Revolving Credit Facility. The transaction is subject to customary closing conditions and is expected to close by early in the fourth quarter of 2020. The acquired business will become part of the EVM segment.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 27, 2020
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments-Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. It replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. With respect to the Company’s financial assets, including trade receivables and contract assets, a cumulative effect transition approach was applied. In order to determine the transition impact of ASU 2016-13, the Company considered historical loss experience, the short duration of its trade receivables and durations of other financial assets, and expectations of the future economic environment. The adoption of ASU 2016-13 did not have a significant impact to the Company’s financial statements upon transition or for the six months ended June 27, 2020. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). Subject to meeting certain criteria, ASU 2020-04 provides optional expedients and exceptions to applying contract modification accounting under existing generally accepted accounting principles, for contracts that are modified to address the expected phase out of the London Inter-bank Offered Rate (“LIBOR”) by the end of 2021. Some of the Company’s contracts with respect to its borrowings and interest rate swap contracts already contain comparable alternative reference rates that would automatically take effect upon the phasing out of LIBOR, while for others, the Company anticipates negotiating comparable replacement rates with its counterparties. At this stage of its contract assessment, the Company does not expect ASU 2020-04 to have a material impact to its financial statements.
Revenue Recognition	The Company recognizes revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration which it expects to receive for providing those goods or services. We recognize revenue arising from performance obligations outlined in contracts with our customers that are satisfied at a point in time and over time. Substantially all revenue for tangible products is recognized at a point in time, whereby revenue for services and software is predominantly recognized over time. Contract Balances Progress on satisfying performance obligations under contracts with customers is recorded on the Consolidated Balance Sheets in Accounts receivable, net for billed revenues. Progress on satisfying performance obligations under contracts with customers related to unbilled revenues (“contract assets”) is reflected on the Consolidated Balance Sheets as Prepaid expenses and other current assets for revenues expected to be billed within the next 12 months, and Other long-term assets for revenues expected to be billed thereafter. The total contract asset balances were $6 million and $8 million as of June 27, 2020 and December 31, 2019, respectively. These contract assets result from timing differences between the billing and delivery schedules of products, services and software, as well as the impact from the allocation of the transaction price among performance obligations for contracts that include multiple performance obligations. Contract assets are evaluated for impairment and no impairment losses have been recognized during the three and six months ended June 27, 2020 and June 29, 2019.
Fair Value Measurements	Financial assets and liabilities are measured using inputs from three levels of the fair value hierarchy in accordance with Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into the following three broad levels: • Level 1: Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs (e.g. U.S. Treasuries and money market funds). • Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data. • Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs to the extent possible. In addition, the Company considers counterparty credit risk in the assessment of fair value.
Derivative Instruments	In the normal course of business, the Company is exposed to global market risks, including the effects of changes in foreign currency exchange rates and interest rates. The Company uses derivative instruments to manage its exposure to such risks and may elect to designate certain derivatives as hedging instruments under ASC Topic 815, Derivatives and Hedging (“ASC 815”). The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. The Company does not hold or issue derivatives for trading or speculative purposes.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 27, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue By Product Category And Segment	The following table presents our Net sales disaggregated by category for each of our segments, Asset Intelligence & Tracking (“AIT”) and Enterprise Visibility & Mobility (“EVM”), for the three and six months ended June 27, 2020 and June 29, 2019 (in millions): Three Months Ended June 27, 2020 June 29, 2019 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 251 $ 24 $ 275 $ 344 $ 26 $ 370 EVM 560 121 681 619 108 727 Total $ 811 $ 145 $ 956 $ 963 $ 134 $ 1,097 Six Months Ended June 27, 2020 June 29, 2019 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 584 $ 62 $ 646 $ 664 $ 63 $ 727 EVM 1,128 234 1,362 1,223 213 1,436 Total $ 1,712 $ 296 $ 2,008 $ 1,887 $ 276 $ 2,163

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 27, 2020
Inventory Disclosure [Abstract]
Schedule of Components of Inventories, Net	The components of Inventories, net are as follows (in millions): June 27, December 31, Raw material $ 122 $ 128 Work in process 5 4 Finished goods 386 342 Total Inventories, net $ 513 $ 474

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 27, 2020
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Carried at Fair Value	The Company’s financial assets and liabilities carried at fair value as of June 27, 2020, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Money market investments related to the deferred compensation plan $ 25 $ — $ — $ 25 Total Assets at fair value $ 25 $ — $ — $ 25 Liabilities: Foreign exchange contracts (1) $ 3 $ 5 $ — $ 8 Forward interest rate swap contracts (2) — 50 — 50 Liabilities related to the deferred compensation plan 25 — — 25 Total Liabilities at fair value $ 28 $ 55 $ — $ 83 The Company’s financial assets and liabilities carried at fair value as of December 31, 2019, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ — $ 3 $ — $ 3 Money market investments related to the deferred compensation plan 24 — — 24 Total Assets at fair value $ 24 $ 3 $ — $ 27 Liabilities: Forward interest rate swap contracts (2) $ — $ 13 $ — $ 13 Liabilities related to the deferred compensation plan 24 — — 24 Total Liabilities at fair value $ 24 $ 13 $ — $ 37 (1) The fair value of the foreign exchange contracts is calculated as follows: a. Fair value of regular forward contracts associated with forecasted sales hedges is calculated using the period-end exchange rate adjusted for current forward points. b. Fair value of hedges against net assets is calculated at the period-end exchange rate adjusted for current forward points unless the hedge has been traded but not settled at period end (Level 2). If this is the case, the fair value is calculated at the rate at which the hedge is being settled (Level 1).

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 27, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities	The following table presents the fair value of its derivative instruments (in millions): (Liability) Asset Fair Values as of Balance Sheet Classification June 27, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ — $ 3 Foreign exchange contracts Accrued liabilities (5) — Total derivative instruments designated as hedges $ (5) $ 3 Derivative instruments not designated as hedges: Foreign exchange contracts Accrued liabilities $ (3) $ — Forward interest rate swaps Accrued liabilities (17) (5) Forward interest rate swaps Other long-term liabilities (33) (8) Total derivative instruments not designated as hedges $ (53) $ (13) Total net derivative liability $ (58) $ (10)
Schedule of Gains (Losses) from Changes in Fair Values of Derivatives	The following table presents the losses from changes in fair values of derivatives that are not designated as hedges (in millions): Losses Recognized in Income Three Months Ended Six Months Ended Statements of Operations Classification June 27, June 29, June 27, June 29, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange loss $ (7) $ (1) $ (8) $ (3) Forward interest rate swaps Interest expense, net (7) (15) (42) (23) Total loss recognized in income $ (14) $ (16) $ (50) $ (26)
Schedule of Notional Values and Net Fair Value of Forward Contracts	The notional values and the net fair value of these outstanding contracts are as follows (in millions): June 27, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 12 £ 14 Euro/U.S. Dollar € 52 € 36 Canadian Dollar/U.S. Dollar $ 1 $ 1 Australian Dollar/U.S. Dollar A$ 7 A$ 42 Japanese Yen/U.S. Dollar ¥ 269 ¥ 264 Singapore Dollar/U.S. Dollar S$ 20 S$ 19 Mexican Peso/U.S. Dollar Mex$ 125 Mex$ 115 Chinese Yuan/U.S. Dollar ¥ 46 ¥ — South African Rand/U.S. Dollar R 39 R 42 Net fair value of liabilities of outstanding contracts $ (3) $ —

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 27, 2020
Debt Disclosure [Abstract]
Summary of Carrying Value of Long-term Debt	The following table shows the carrying value of the Company’s debt (in millions): June 27, December 31, Term Loan A $ 917 $ 917 Revolving Credit Facility 81 103 Receivables Financing Facilities 229 266 Total debt $ 1,227 $ 1,286 Less: Debt issuance costs (5) (6) Less: Unamortized discounts (3) (3) Less: Current portion of debt (233) (197) Total long-term debt $ 986 $ 1,080
Schedule of Future Maturities of Long-term Debt	As of June 27, 2020, the future maturities of debt, excluding debt discounts and issuance costs, were as follows (in millions): 2020 $ 24 2021 234 2022 57 2023 81 2024 831 Total future debt maturities $ 1,227

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 27, 2020
Commitments and Contingencies Disclosure [Abstract]
Summary of Accrued Warranty Obligation	The following table is a summary of the Company’s accrued warranty obligations, which are included in Accrued liabilities on the Consolidated Balance Sheets (in millions): Six Months Ended June 27, June 29, Balance at the beginning of the period $ 21 $ 22 Warranty expense 15 12 Warranties fulfilled (14) (12) Balance at the end of the period $ 22 $ 22

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 27, 2020
Earnings Per Share [Abstract]
Computation of Earnings per Share	Earnings per share (in millions, except share data): Three Months Ended Six Months Ended June 27, June 29, June 27, June 29, Basic: Net income $ 100 $ 124 $ 189 $ 239 Weighted-average shares outstanding 53,188,486 54,027,576 53,533,116 53,965,181 Basic earnings per share $ 1.87 $ 2.28 $ 3.53 $ 4.43 Diluted: Net income $ 100 $ 124 $ 189 $ 239 Weighted-average shares outstanding 53,188,486 54,027,576 53,533,116 53,965,181 Dilutive shares 487,244 621,123 522,208 637,191 Diluted weighted-average shares outstanding 53,675,730 54,648,699 54,055,324 54,602,372 Diluted earnings per share $ 1.85 $ 2.26 $ 3.49 $ 4.37

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 27, 2020
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss (AOCI)	The components of AOCI for the six months ended June 27, 2020 and June 29, 2019 are as follows (in millions): Unrealized (loss) gain on sales hedging Unrealized loss on forward interest rate swaps Foreign currency translation adjustments Total Balance at December 31, 2018 $ 12 $ — $ (47) $ (35) Other comprehensive income before reclassifications 12 — 2 14 Amounts reclassified from AOCI (1) (22) 1 — (21) Tax effect 2 — — 2 Other comprehensive (loss) income, net of tax (8) 1 2 (5) Balance at June 29, 2019 $ 4 $ 1 $ (45) $ (40) Balance at December 31, 2019 $ 2 $ — $ (46) $ (44) Other comprehensive (loss) income before reclassifications 7 — (8) (1) Amounts reclassified from AOCI (1) (14) — — (14) Tax effect 1 — — 1 Other comprehensive loss, net of tax (6) — (8) (14) Balance at June 27, 2020 $ (4) $ — $ (54) $ (58) (1) See Note 8, Derivative Instruments

Segment Information & Geograp_2

Segment Information & Geographic Data (Tables)	6 Months Ended
	Jun. 27, 2020
Segment Reporting [Abstract]
Financial Information by Segments	Financial information by segment is presented as follows (in millions): Three Months Ended Six Months Ended June 27, June 29, June 27, June 29, Net sales: AIT $ 275 $ 370 $ 646 $ 727 EVM 681 727 1,362 1,436 Total Net sales $ 956 $ 1,097 $ 2,008 $ 2,163 Operating income: AIT (1) $ 48 $ 84 $ 137 $ 176 EVM (1) 93 113 181 214 Total segment operating income 141 197 318 390 Corporate, eliminations (2) (22) (37) (48) (71) Total Operating income $ 119 $ 160 $ 270 $ 319 (1) AIT and EVM segment operating income includes depreciation and share-based compensation expense. The amounts of depreciation and share-based compensation expense attributable to AIT and EVM are proportionate to each segment’s Net sales. (2) To the extent applicable, amounts included in Corporate, eliminations consist of purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, and product sourcing diversification costs.
Net Sales to Customers by Geographic Region	Geographic data for Net sales is as follows (in millions): Three Months Ended Six Months Ended June 27, June 29, June 27, June 29, North America $ 502 $ 540 $ 1,021 $ 1,050 EMEA 306 360 694 736 Asia-Pacific 110 141 207 266 Latin America 38 56 86 111 Total Net sales $ 956 $ 1,097 $ 2,008 $ 2,163

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
Summary of Equity Awards Activity	A summary of the equity awards available for future grants under the 2018 Plan is as follows: Available for future grants as of December 31, 2019 3,484,960 Granted (268,235) Cancellation and forfeitures 986 Available for future grants as of June 27, 2020 3,217,711
Schedule of Compensation Expense and Related Income Tax benefit	The compensation expense from the Company’s share-based compensation plans and associated income tax benefit, excluding the effects of excess tax benefits or shortfalls, were included in the Consolidated Statements of Operations as follows (in millions): Three Months Ended Six Months Ended Compensation costs and related income tax benefit June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Cost of sales $ 1 $ 1 $ 2 $ 2 Selling and marketing 5 4 6 8 Research and development 4 4 6 8 General and administration 7 9 9 13 Total compensation expense $ 17 $ 18 $ 23 $ 31 Income tax benefit $ 2 $ 3 $ 4 $ 5
Summary of SARs Activity	A summary of the Company’s SARs for the six months ended June 27, 2020 is as follows: SARs SARs Weighted-Average Grant Date Exercise Price Outstanding at beginning of period 896,923 $ 89.05 Granted 64,727 244.97 Exercised (178,625) 73.21 Forfeited (8,954) 89.57 Outstanding at end of period 774,071 $ 105.70 Exercisable at end of period 533,880 $ 77.28
Weighted-Average Assumptions Used for Grants of SARs	The following table shows the weighted-average assumptions used for grants of SARs, as well as the fair value of the grants based on those assumptions: June 27, June 29, Expected dividend yield 0% 0% Forfeiture rate 8.00% 8.20% Volatility 42.51% 36.79% Risk free interest rate 0.24% 2.28% Expected weighted-average life 4.00 4.02 Weighted-average grant date fair value of SARs granted $79.47 $64.17
Schedule of Outstanding and Exercisable Options	The following table summarizes information about SARs outstanding as of June 27, 2020: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 109 $ 90 Weighted-average remaining contractual life 4.7 4.4
Summary of Restricted Stock Award Activity	A summary of the Company’s RSAs for the six months ended June 27, 2020 is as follows: RSAs Shares Weighted-Average Outstanding at beginning of period 434,641 $ 151.52 Granted 145,299 244.01 Released (268,063) 132.61 Forfeited (6,697) 159.57 Outstanding at end of period 305,180 $ 211.69
Summary of Performance Share Award Activity	The fair value of each PSA granted includes assumptions around the Company’s performance goals. A summary of the Company’s PSAs for the six months ended June 27, 2020 is as follows: PSAs Shares Weighted-Average Outstanding at beginning of period 170,749 $ 144.47 Granted 98,174 239.44 Released (129,344) 159.76 Forfeited (280) 204.76 Outstanding at end of period 139,299 $ 198.21

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue By Product Category And Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Total Net sales	$ 956	$ 1,097	$ 2,008	$ 2,163
Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	811	963	1,712	1,887
Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	145	134	296	276
AIT
Disaggregation of Revenue [Line Items]
Total Net sales	275	370	646	727
AIT | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	251	344	584	664
AIT | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	24	26	62	63
EVM
Disaggregation of Revenue [Line Items]
Total Net sales	681	727	1,362	1,436
EVM | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	560	619	1,128	1,223
EVM | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	$ 121	$ 108	$ 234	$ 213

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligation (Details) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation		$ 724
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected recognition period		2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-28
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 736
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected recognition period	2 years

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 31, 2019
Revenue From Contract With Customer, Assets And Liabilities [Line Items]
Deferred revenue balances	$ 505		$ 505		$ 459
Revenue recognized that was included in contract liability	84	$ 57	157	$ 127
Prepaid expenses and other current assets
Revenue From Contract With Customer, Assets And Liabilities [Line Items]
Contract assets recorded in prepaids and other current assets	$ 6		$ 6		$ 8

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw material	$ 122	$ 128
Work in process	5	4
Finished goods	386	342
Total Inventories, net	$ 513	$ 474

Investments (Details)

Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Equity securities held	$ 84		$ 84		$ 45
Purchases of long-term investments			(32)	$ (20)
Unrealized gain (loss) on equity securities	$ 7		$ 7
Net gains on equity securities		$ 4		$ 3

Exit and Restructuring Costs (D

Exit and Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Exit and restructuring costs	$ 2	$ 1	$ 6	$ 2
Estimated remaining costs	5		5
2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Exit and restructuring costs	2		6
Exit and restructuring charges - cumulative	14		14
Estimated remaining costs	$ 4		$ 4

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	$ 25	$ 27
Total Liabilities at fair value	83	37
Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value		3
Total Liabilities at fair value	8
Money market investments related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	25	24
Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	50	13
Liabilities related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	25	24
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	25	24
Total Liabilities at fair value	28	24
Level 1 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value		0
Total Liabilities at fair value	3
Level 1 | Money market investments related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	25	24
Level 1 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	0	0
Level 1 | Liabilities related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	25	24
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	3
Total Liabilities at fair value	55	13
Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value		3
Total Liabilities at fair value	5
Level 2 | Money market investments related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	0
Level 2 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	50	13
Level 2 | Liabilities related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	0
Total Liabilities at fair value	0	0
Level 3 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value		0
Total Liabilities at fair value	0
Level 3 | Money market investments related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	0
Level 3 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	0	0
Level 3 | Liabilities related to the deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities at fair value	$ 0	$ 0

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 27, 2020	Dec. 31, 2019
Derivative [Line Items]
Total net derivative liability	$ (58)	$ (10)
Derivative instruments designated as hedges
Derivative [Line Items]
Total net derivative liability	(5)	3
Derivative instruments designated as hedges | Foreign exchange contracts | Prepaid expenses and other current assets
Derivative [Line Items]
Derivative asset, fair value	0	3
Derivative instruments designated as hedges | Foreign exchange contracts | Accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	(5)	0
Derivative instruments not designated as hedges
Derivative [Line Items]
Total net derivative liability	(53)	(13)
Derivative instruments not designated as hedges | Foreign exchange contracts | Accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	(3)	0
Derivative instruments not designated as hedges | Forward interest rate swaps | Accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	(17)	(5)
Derivative instruments not designated as hedges | Forward interest rate swaps | Other long-term liabilities
Derivative [Line Items]
Derivative liability, fair value	$ (33)	$ (8)

Derivative Instruments - (Loss)

Derivative Instruments - (Loss) Gain Recognized In Income (Details) - Derivative instruments not designated as hedges - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total loss recognized in income	$ (14)	$ (16)	$ (50)	$ (26)
Foreign exchange contracts | Foreign exchange loss
Derivative Instruments, Gain (Loss) [Line Items]
Total loss recognized in income	(7)	(1)	(8)	(3)
Forward interest rate swaps | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Total loss recognized in income	$ (7)	$ (15)	$ (42)	$ (23)

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Sep. 28, 2019USD ($)	Dec. 31, 2017USD ($)
Net Sales
Change in unrealized gain (loss) on anticipated sales hedging:
Derivative, gain	$ 6	$ 11	$ 14	$ 22
Foreign exchange contracts
Change in unrealized gain (loss) on anticipated sales hedging:
Derivative, increase in asset (liability) positions	$ 2		$ 2			$ (3)
Foreign exchange forward | Derivative instruments designated as hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Maturity period			12 months
Derivative, notional amount | €					€ 492		€ 564
Foreign exchange forward | Derivative instruments not designated as hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Maturity period			1 month
Forward interest rate swaps | Derivative instruments designated as hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Derivative, notional amount								$ 800	$ 800

Derivative Instruments - Notion

Derivative Instruments - Notional Values and Net Fair Value of Outstanding Contracts (Details) - Foreign Exchange Forward $ in Millions

Jun. 27, 2020GBP (£)

Jun. 27, 2020EUR (€)

Jun. 27, 2020CAD ($)

Jun. 27, 2020AUD ($)

Jun. 27, 2020JPY (¥)

Jun. 27, 2020SGD ($)

Jun. 27, 2020MXN ($)

Jun. 27, 2020CNY (¥)

Jun. 27, 2020ZAR (R)

Jun. 27, 2020USD ($)

Dec. 31, 2019GBP (£)

Dec. 31, 2019EUR (€)

Dec. 31, 2019CAD ($)

Dec. 31, 2019AUD ($)

Dec. 31, 2019JPY (¥)

Dec. 31, 2019SGD ($)

Dec. 31, 2019MXN ($)

Dec. 31, 2019CNY (¥)

Dec. 31, 2019ZAR (R)

Dec. 31, 2019USD ($)

Derivative [Line Items]

Net fair value of liabilities of outstanding contracts

$ (3)

$ 0

U.S. dollar

Derivative [Line Items]

Notional balance of outstanding contracts

£ 12,000,000

€ 52,000,000

$ 1,000,000

$ 7,000,000

¥ 269,000,000

$ 20,000,000

$ 125,000,000

¥ 46,000,000

R 39,000,000

£ 14,000,000

€ 36,000,000

$ 1,000,000

$ 42,000,000

¥ 264,000,000

$ 19,000,000

$ 115,000,000

¥ 0

R 42,000,000

Long-Term Debt - Summary of Car

Long-Term Debt - Summary of Carrying Value of Debt (Details) € in Millions, $ in Millions	Jun. 27, 2020USD ($)	Jun. 27, 2020EUR (€)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Total future debt maturities	$ 1,227		$ 1,286
Less: Debt issuance costs	(5)		(6)
Less: Unamortized discounts	(3)		(3)
Less: Current portion of debt	(233)		(197)
Total long-term debt	986		1,080
Revolving Credit Facility
Debt Instrument [Line Items]
Total future debt maturities	81	€ 72	103
Term Loan | Term Loan A
Debt Instrument [Line Items]
Total future debt maturities	917		917
Secured Debt | Receivables Financing Facilities
Debt Instrument [Line Items]
Total future debt maturities	$ 229		$ 266

Long-Term Debt - Future Maturit

Long-Term Debt - Future Maturities of Long-Term Debt (Details) $ in Millions	Jun. 27, 2020USD ($)
Debt Disclosure [Abstract]
2020	$ 24
2021	234
2022	57
2023	81
2024	831
Total future debt maturities	$ 1,227

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) € in Millions, $ in Millions	Jun. 27, 2020USD ($)	Jun. 27, 2020EUR (€)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Debt principal	$ 1,227		$ 1,286
Long-term debt, fair value	1,200		1,300
Revolving Credit Facility
Debt Instrument [Line Items]
Debt principal	$ 81	€ 72	$ 103

Long-Term Debt - Credit Facilit

Long-Term Debt - Credit Facilities (Details)	Jun. 27, 2020USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Letters of credit	$ 4,000,000
Average interest rate	1.25%
Revolving Credit Facility | Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Revolving credit facility maximum borrowing capacity	$ 1,000,000,000
Funds available for other borrowing	$ 996,000,000
Term Loan | Term Loan A
Line of Credit Facility [Line Items]
Percentage bearing variable interest, percentage rate	1.43%

Long-Term Debt - Receivable Fin

Long-Term Debt - Receivable Financing Facility (Details) - Secured Debt	Jun. 27, 2020USD ($)facility	May 31, 2020USD ($)	May 31, 2019USD ($)
Receivables Financing Facilities
Line of Credit Facility [Line Items]
Number of receivable financing facilities | facility	2
Receivable financing facility, up to	$ 280,000,000
Accounts receivable pledged	417,000,000
Line of credit, current	$ 229,000,000
Average interest rate	1.13%
Receivables Financing Facility, due 2021
Line of Credit Facility [Line Items]
Receivable financing facility, up to			$ 180,000,000
Receivables Financing Facility, due 2020
Line of Credit Facility [Line Items]
Receivable financing facility, up to		$ 100,000,000

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 21	$ 22
Warranty expense	15	12
Warranties fulfilled	(14)	(12)
Balance at the end of the period	$ 22	$ 22

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended			6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Mar. 30, 2019	Jun. 27, 2020	Jun. 29, 2019
Income Tax Contingency [Line Items]
Effective tax rate	2.90%	3.90%		8.30%	8.10%
United Kingdom
Income Tax Contingency [Line Items]
Statutory tax rate				19.00%
Singapore
Income Tax Contingency [Line Items]
Statutory tax rate			17.00%	10.50%
Luxembourg
Income Tax Contingency [Line Items]
Statutory tax rate				25.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Mar. 30, 2019	Jun. 27, 2020	Jun. 29, 2019
Basic:
Net income	$ 100	$ 89	$ 124	$ 115	$ 189	$ 239
Weighted-average shares outstanding (in shares)	53,188,486		54,027,576		53,533,116	53,965,181
Basic earnings per share (USD per share)	$ 1.87		$ 2.28		$ 3.53	$ 4.43
Diluted:
Net income	$ 100	$ 89	$ 124	$ 115	$ 189	$ 239
Weighted-average shares outstanding (in shares)	53,188,486		54,027,576		53,533,116	53,965,181
Dilutive shares (in shares)	487,244		621,123		522,208	637,191
Diluted weighted-average shares outstanding (in shares)	53,675,730		54,648,699		54,055,324	54,602,372
Diluted earnings per share (USD per share)	$ 1.85		$ 2.26		$ 3.49	$ 4.37
Anti-dilutive options to purchase common shares excluded from diluted earnings per share calculations (in shares)	108,950		61,239		89,091	32,882

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
AOCI Attributable to Parent, Net of Tax
Beginning balance	$ 1,839	$ 1,335
Other comprehensive income before reclassifications	(1)	14
Amounts reclassified from AOCI	(14)	(21)
Tax effect	1	2
Other comprehensive (loss) income, net of tax	(14)	(5)
Ending balance	1,803	1,559
Unrealized (loss) gain on sales hedging
AOCI Attributable to Parent, Net of Tax
Beginning balance	2	12
Other comprehensive income before reclassifications	7	12
Amounts reclassified from AOCI	(14)	(22)
Tax effect	1	2
Other comprehensive (loss) income, net of tax	(6)	(8)
Ending balance	(4)	4
Unrealized loss on forward interest rate swaps
AOCI Attributable to Parent, Net of Tax
Beginning balance	0	0
Other comprehensive income before reclassifications	0	0
Amounts reclassified from AOCI	0	1
Tax effect	0	0
Other comprehensive (loss) income, net of tax	0	1
Ending balance	0	1
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(46)	(47)
Other comprehensive income before reclassifications	(8)	2
Amounts reclassified from AOCI	0	0
Tax effect	0	0
Other comprehensive (loss) income, net of tax	(8)	2
Ending balance	(54)	(45)
Total
AOCI Attributable to Parent, Net of Tax
Beginning balance	(44)	(35)
Ending balance	$ (58)	$ (40)

Accounts Receivable Factoring (

Accounts Receivable Factoring (Details) € in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 27, 2020USD ($)	Dec. 31, 2019USD ($)	May 31, 2020EUR (€)
Transfer of Financial Assets Accounted for as Sales [Line Items]
Maximum uncollected receivables available	$ 125		€ 150
Sale of account receivables	508	$ 143
Accounts receivables sold	103	60
Cash collections not yet remitted to banks	88	$ 33
Prepaid expenses and other current assets
Transfer of Financial Assets Accounted for as Sales [Line Items]
Deposits	$ 23

Segment Information & Geograp_3

Segment Information & Geographic Data (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)segment	Jun. 29, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting Information [Line Items]
Total Net sales	$ 956	$ 1,097	$ 2,008	$ 2,163
Total Operating income	119	160	270	319
Operating Segments
Segment Reporting Information [Line Items]
Total Operating income	141	197	318	390
Corporate, eliminations
Segment Reporting Information [Line Items]
Total Operating income	(22)	(37)	(48)	(71)
AIT
Segment Reporting Information [Line Items]
Total Net sales	275	370	646	727
AIT | Operating Segments
Segment Reporting Information [Line Items]
Total Operating income	48	84	137	176
EVM
Segment Reporting Information [Line Items]
Total Net sales	681	727	1,362	1,436
EVM | Operating Segments
Segment Reporting Information [Line Items]
Total Operating income	$ 93	$ 113	$ 181	$ 214

Segment Information & Geograp_4

Segment Information & Geographic Data - Geographic Data for Net Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Segment Reporting Information [Line Items]
Total Net sales	$ 956	$ 1,097	$ 2,008	$ 2,163
North America
Segment Reporting Information [Line Items]
Total Net sales	502	540	1,021	1,050
EMEA
Segment Reporting Information [Line Items]
Total Net sales	306	360	694	736
Asia-Pacific
Segment Reporting Information [Line Items]
Total Net sales	110	141	207	266
Latin America
Segment Reporting Information [Line Items]
Total Net sales	$ 38	$ 56	$ 86	$ 111

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Equity Awards Authorized and Available for Future Grant (Details) - 2018 Plan	6 Months Ended
	Jun. 27, 2020shares
Available for future grants
Available for future grants at beginning of period (in shares)	3,484,960
Granted (in shares)	(268,235)
Cancellation and forfeitures (in shares)	986
Available for future grants at end of period (in shares)	3,217,711

Share-Based Compensation - Comp

Share-Based Compensation - Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 17	$ 18	$ 23	$ 31
Income tax benefit	2	3	4	5
Total unearned compensation costs related to performance share awards	87		$ 87
Total unearned compensation costs amortization period			2 years 1 month 6 days
Maximum | SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	1	1	$ 2	2
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	5	4	6	8
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	4	4	6	8
General and administration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 7	$ 9	$ 9	$ 13

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of SARs Outstanding (Detail) - SARs	6 Months Ended
	Jun. 27, 2020$ / sharesshares
SARs, Shares Outstanding
Outstanding at beginning of period (in shares) | shares	896,923
Granted (in shares) | shares	64,727
Exercised (in shares) | shares	(178,625)
Forfeited (in shares) | shares	(8,954)
Outstanding at end of period (in shares) | shares	774,071
Weighted-Average Grant Date Exercise Price
Outstanding at beginning of period (usd per share) | $ / shares	$ 89.05
Granted (usd per share) | $ / shares	244.97
Exercised (usd per share) | $ / shares	73.21
Forfeited (usd per share) | $ / shares	89.57
Outstanding at end of period (usd per share) | $ / shares	$ 105.70
Exercisable at end of period (in shares) | shares	533,880
Exercisable at end of period (usd per share) | $ / shares	$ 77.28

Share-Based Compensation - Weig

Share-Based Compensation - Weighted-Average Assumptions Used for Grants of Stock Options and SARs (Detail) - SARs - $ / shares	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Forfeiture rate	8.00%	8.20%
Volatility	42.51%	36.79%
Risk free interest rate	0.24%	2.28%
Expected weighted-average life	4 years	4 years 7 days
Weighted-average grant date fair value of SARs granted (per underlying share) (USD per share)	$ 79.47	$ 64.17

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Outstanding and Exercisable Options and SARs (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value - outstanding	$ 109
Weighted-average remaining contractual term - outstanding	4 years 8 months 12 days
Aggregate intrinsic value - exercisable	$ 90
Weighted-average remaining contractual term - exercisable	4 years 4 months 24 days
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of exercised options	$ 31	$ 30
Fair value of SARs vested in period	$ 8	$ 9

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Restricted Stock Award Activity and Performance Share Award Activity (Detail) - $ / shares	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Restricted Stock Awards
Restricted Stock Awards and Units
Outstanding at beginning of period (in shares)	434,641
Granted (in shares)	145,299
Released (in shares)	(268,063)
Forfeited (in shares)	(6,697)
Outstanding at end of period (in shares)	305,180
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share)	$ 151.52
Released (USD per share)	244.01
Vested (USD per share)	132.61
Forfeited (USD per share)	159.57
Outstanding at end of year (USD per share)	$ 211.69
Restricted Stock Awards | Nonemployee directors
Restricted Stock Awards and Units
Granted (in shares)	6,314	7,371
Restricted Stock Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Shares
Restricted Stock Awards and Units
Outstanding at beginning of period (in shares)	170,749
Granted (in shares)	98,174
Released (in shares)	(129,344)
Forfeited (in shares)	(280)
Outstanding at end of period (in shares)	139,299
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share)	$ 144.47
Released (USD per share)	239.44
Vested (USD per share)	159.76
Forfeited (USD per share)	204.76
Outstanding at end of year (USD per share)	$ 198.21

Share-Based Compensation - Othe

Share-Based Compensation - Other Award Types (Details) - Other Award Types - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Settlement payments for awards	$ 5	$ 6
Number of shares authorized (in shares)	16,194	17,207
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

Share-Based Compensation - Empl

Share-Based Compensation - Employee Stock Purchase Plan (Details) - 2011 Plan - Employee Stock Purchase Plan - Common Stock	6 Months Ended
	Jun. 27, 2020shares
Date Of Purchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price per share fair market value percentage	95.00%
Date Of Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,500,000

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	Jul. 27, 2020USD ($)
Subsequent Event | Reflexis Systems, Inc.
Subsequent Event [Line Items]
Business combination, aggregate consideration of the transaction	$ 575