Zebra Technologies (ZBRA) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 03, 2021	Jul. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 3, 2021
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		53,402,967
Amendment Flag	false
Document Fiscal Year Focus	2021
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	Jul. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 318	$ 168
Accounts receivable, net of allowances for doubtful accounts of $1 million as of July 3, 2021 and December 31, 2020, respectively	567	508
Inventories, net	485	511
Current income taxes	54	16
Prepaid expenses and other current assets	102	70
Total Current assets	1,526	1,273
Property, plant and equipment, net	270	274
Right-of-use lease assets	125	135
Goodwill	2,989	2,988
Other intangibles, net	372	402
Deferred income taxes	131	139
Other long-term assets	180	164
Total Assets	5,593	5,375
Current liabilities:
Current portion of long-term debt	47	364
Accounts payable	597	601
Accrued liabilities	524	559
Deferred revenue	348	308
Income taxes payable	34	19
Total Current liabilities	1,550	1,851
Long-term debt	944	881
Long-term lease liabilities	118	129
Long-term deferred revenue	299	273
Other long-term liabilities	93	97
Total Liabilities	3,004	3,231
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	427	395
Treasury stock at cost, 18,748,564 and 18,689,775 shares as of July 3, 2021 and December 31, 2020, respectively	(984)	(919)
Retained earnings	3,183	2,736
Accumulated other comprehensive loss	(38)	(69)
Total Stockholders’ Equity	2,589	2,144
Total Liabilities and Stockholders’ Equity	$ 5,593	$ 5,375

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1	$ 1
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)	18,748,564	18,689,775

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Net sales:
Total Net sales	$ 1,377	$ 956	$ 2,724	$ 2,008
Cost of sales:
Total Cost of sales	719	537	1,411	1,116
Gross profit	658	419	1,313	892
Operating expenses:
Selling and marketing	148	109	282	231
Research and development	141	98	281	203
General and administrative	92	74	174	148
Amortization of intangible assets	26	16	52	32
Acquisition and integration costs	4	1	5	2
Exit and restructuring costs	0	2	0	6
Total Operating expenses	411	300	794	622
Operating income	247	119	519	270
Other expenses:
Foreign exchange (loss) gain	(1)	(9)	1	(12)
Interest expense, net	(7)	(14)	(5)	(59)
Other (expense) income, net	(1)	7	(1)	7
Total Other expenses, net	(9)	(16)	(5)	(64)
Income before income tax	238	103	514	206
Income tax expense	19	3	67	17
Net income	$ 219	$ 100	$ 447	$ 189
Basic earnings per share (USD per share)	$ 4.10	$ 1.87	$ 8.36	$ 3.53
Diluted earnings per share (USD per share)	$ 4.07	$ 1.85	$ 8.29	$ 3.49
Tangible products
Net sales:
Total Net sales	$ 1,192	$ 811	$ 2,345	$ 1,712
Cost of sales:
Total Cost of sales	618	451	1,209	937
Services and software
Net sales:
Total Net sales	185	145	379	296
Cost of sales:
Total Cost of sales	$ 101	$ 86	$ 202	$ 179

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 219	$ 100	$ 447	$ 189
Other comprehensive income (loss), net of tax:
Changes in unrealized gains (losses) on anticipated sales hedging transactions	2	(8)	34	(6)
Foreign currency translation adjustment	0	1	(3)	(8)
Comprehensive income	$ 221	$ 93	$ 478	$ 175

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Class A Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
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)
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)
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)
Beginning balance (in shares) at Dec. 31, 2020		53,462,082
Beginning balance at Dec. 31, 2020	2,144	$ 1	395	(919)	2,736	(69)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		48,584
Issuances of treasury shares related to share-based compensation plans, net of forfeitures	(6)		(6)
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(400)
Share-based compensation	16		16
Repurchase of common stock (in shares)		(100)
Net income	228				228
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	32					32
Foreign currency translation adjustment	(3)					(3)
Ending balance (in shares) at Apr. 03, 2021		53,510,166
Ending balance at Apr. 03, 2021	2,411	$ 1	405	(919)	2,964	(40)
Beginning balance (in shares) at Dec. 31, 2020		53,462,082
Beginning balance at Dec. 31, 2020	2,144	$ 1	395	(919)	2,736	(69)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	447
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	34
Foreign currency translation adjustment	(3)
Ending balance (in shares) at Jul. 03, 2021		53,403,293
Ending balance at Jul. 03, 2021	2,589	$ 1	427	(984)	3,183	(38)
Beginning balance (in shares) at Apr. 03, 2021		53,510,166
Beginning balance at Apr. 03, 2021	2,411	$ 1	405	(919)	2,964	(40)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		27,226
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(81,810)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(40)			(40)
Share-based compensation	22		22
Repurchase of common stock (in shares)		(52,289)
Repurchases of common stock	(25)			(25)
Net income	219				219
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	2					2
Foreign currency translation adjustment	0
Ending balance (in shares) at Jul. 03, 2021		53,403,293
Ending balance at Jul. 03, 2021	$ 2,589	$ 1	$ 427	$ (984)	$ 3,183	$ (38)

CONSOLDATED STATEMENTS OF CASH

CONSOLDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Cash flows from operating activities:
Net income	$ 447	$ 189
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	88	68
Share-based compensation	38	20
Deferred income taxes	(5)	6
Unrealized (gain) loss on forward interest rate swaps	(13)	37
Other, net	1	(5)
Changes in operating assets and liabilities:
Accounts receivable, net	(59)	201
Inventories, net	26	(36)
Other assets	(22)	4
Accounts payable	(10)	(46)
Accrued liabilities	2	(76)
Deferred revenue	67	45
Income taxes	(23)	(48)
Other operating activities	2	(4)
Net cash provided by operating activities	539	355
Cash flows from investing activities:
Purchases of property, plant and equipment	(25)	(33)
Acquisition of businesses, net of cash acquired	(17)	0
Purchases of long-term investments	(17)	(32)
Net cash used in investing activities	(59)	(65)
Cash flows from financing activities:
Payments of long-term debt	(264)	(84)
Proceeds from issuance of long-term debt	8	24
Payments for repurchases of common stock	(25)	(200)
Net payments related to share-based compensation plans	(46)	(31)
Change in unremitted cash collections from servicing factored receivables	(2)	55
Other financing activities	0	3
Net cash used in financing activities	(329)	(233)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	(4)	(1)
Net increase in cash and cash equivalents, including restricted cash	147	56
Cash and cash equivalents, including restricted cash, at beginning of period	192	30
Cash and cash equivalents, including restricted cash, at end of period	339	86
Less restricted cash, included in Prepaid expenses and other current assets	(21)	(23)
Cash and cash equivalents at end of period	318	63
Supplemental disclosures of cash flow information:
Income taxes paid	94	61
Interest paid	$ 17	$ 19

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jul. 03, 2021
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 (“EAI”) solutions in the automatic identification and data capture solutions industry. We design, manufacture, and sell a broad range of products and solutions, including cloud-based subscriptions, that capture and move data. We also provide a full range of services, including maintenance, technical support, repair, managed and professional services. End-users of our products, solutions and services include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries around the world. We provide our products, solutions 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 interim 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, 2020. 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 July 3, 2021, the Consolidated Statements of Operations, Comprehensive Income, and Stockholders’ Equity for the three and six months ended July 3, 2021 and June 27, 2020, and the Consolidated Statements of Cash Flows for the six months ended July 3, 2021 and June 27, 2020. These results, however, are not necessarily indicative of the results expected for the full fiscal year ending December 31, 2021. Effective January 1, 2021, our retail solutions offering moved from our Asset Intelligence & Tracking (“AIT”) segment into our Enterprise Visibility & Mobility (“EVM”) segment contemporaneous with a change in our organizational structure and management of the business. Prior period results have been reclassified to conform to the current period’s presentation. This change does not have an impact on the Consolidated Financial Statements. See Note 17, Segment Information & Geographic Data for additional information related to each segment’s results.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update 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”). 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 on its financial results.

Revenues

Revenues	6 Months Ended
	Jul. 03, 2021
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. Revenues for products are generally recognized upon shipment, whereas revenues for services and solutions offerings are generally recognized by using an output or time-based method, assuming all other criteria for revenue recognition have been met. Revenues for software are recognized either upon delivery or using a time-based method, depending upon how control is transferred to the customer. In cases where a bundle of products, services, and/or software are delivered to the customer, judgment is required to select the method of progress which best reflects the transfer of control. Disaggregation of Revenue The following table presents our Net sales disaggregated by product category for each of our segments, AIT and EVM, for the three and six months ended July 3, 2021 and June 27, 2020 (in millions): Three Months Ended July 3, 2021 June 27, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 393 $ 28 $ 421 $ 251 $ 22 $ 273 EVM 799 160 959 560 123 683 Corporate, eliminations (1) — (3) (3) — — — Total $ 1,192 $ 185 $ 1,377 $ 811 $ 145 $ 956 Six Months Ended July 3, 2021 June 27, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 803 $ 54 $ 857 $ 584 $ 44 $ 628 EVM 1,542 331 1,873 1,128 252 1,380 Corporate, eliminations (1) — (6) (6) — — — Total $ 2,345 $ 379 $ 2,724 $ 1,712 $ 296 $ 2,008 (1) Amounts included in Corporate, eliminations consist of purchase accounting adjustments. In addition, refer to Note 17, Segment Information & Geographic Data for Net sales to customers by geographic region. Performance Obligations The Company’s remaining performance obligations primarily relate to repair and support services, as well as solutions offerings. The aggregated transaction price allocated to remaining performance obligations for arrangements with an original term exceeding one year was $1,005 million and $974 million, inclusive of deferred revenue, as of July 3, 2021 and December 31, 2020, respectively. On average, remaining performance obligations as of July 3, 2021 and December 31, 2020 are expected to be recognized over a period of approximately two years. Contract Balances Progress on satisfying performance obligations under contracts with customers related to billed revenues is reflected on the Consolidated Balance Sheets in Accounts receivable, net. 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 twelve months, and Other long-term assets for revenues expected to be billed thereafter. The total contract asset balances were $10 million each as of July 3, 2021 and December 31, 2020, 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 July 3, 2021 and June 27, 2020. 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 $647 million and $581 million as of July 3, 2021 and December 31, 2020, respectively. During the three and six months ended July 3, 2021, the Company recognized $75 million and $185 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue as of December 31, 2020. 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.

Inventories

Inventories	6 Months Ended
	Jul. 03, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories The components of Inventories, net are as follows (in millions): July 3, December 31, Raw materials $ 108 $ 117 Work in process 4 4 Finished goods 373 390 Total Inventories, net $ 485 $ 511

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jul. 03, 2021
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions	Business Acquisitions Adaptive Vision On May 17, 2021, the Company acquired Adaptive Vision Sp. z o.o. (“Adaptive Vision”), a provider of graphical machine vision software with applications in the manufacturing industry, as well as a provider of libraries and other offerings for machine vision developers. The Company’s cash purchase consideration of $18 million, net of cash on-hand, was primarily allocated to technology-related intangible assets of $13 million and associated deferred tax liabilities, and goodwill of $7 million. The technology-related intangible assets have an estimated useful life of 8 years. The acquisition was accounted for under the acquisition method of accounting for business combinations. While we believe these estimates provide a reasonable basis to record the net assets acquired, the purchase price allocation is considered preliminary and subject to adjustment during the measurement period, which is up to one year from the acquisition date. The goodwill, which will be non-deductible for tax purposes, has been allocated to the EVM segment and principally relates to the planned expansion of the Adaptive Vision technologies into new product offerings and markets. Reflexis During the second quarter of 2021, the Company recorded measurement period adjustments related to its September 1, 2020 acquisition of Reflexis Systems, Inc. (“Reflexis”). The primary measurement period adjustments included a $9 million increase to the trade name intangible assets and a $4 million increase to deferred tax liabilities. These adjustments, relating to facts and circumstances existing as of the acquisition date, resulted in a $5 million reduction of goodwill. The fair value estimates still considered preliminary as of July 3, 2021 primarily relate to income tax items. Additionally, during the second quarter of 2021, the Company received escrow proceeds of $1 million related to resolution of contractual items resulting from the Reflexis acquisition. These proceeds were reflected as a reduction in purchase price with a corresponding decrease of goodwill. Fetch Robotics On June 30, 2021, the Company entered into a definitive agreement to acquire Fetch Robotics, Inc. (“Fetch”), a provider of autonomous mobile robots for customers in the manufacturing and warehousing markets. The aggregate purchase consideration, inclusive of the fair value of the Company’s existing minority ownership interest in Fetch, is expected to be approximately $305 million , subject to customary adjustments. Zebra expects to fund the transaction primarily with cash on hand. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2021. The acquired business will become part of the EVM segment. Acquisition and integration costs We incurred approximately $4 million of acquisition-related costs, primarily related to third-party transaction and advisory fees, in the second quarter of 2021 associated with our business acquisitions. These costs are included within Acquisition and integration costs on the Consolidated Statements of Operations.

Goodwill

Goodwill	6 Months Ended
	Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Changes in the net carrying value of goodwill by segment were as follows (in millions): AIT EVM Total Goodwill as of December 31, 2020 $ 228 $ 2,760 $ 2,988 Retail solutions offering move to EVM segment, effective January 1, 2021 (59) 59 — Adaptive Vision acquisition — 7 7 Reflexis purchase price allocation adjustments — (5) (5) Reflexis purchase price reduction — (1) (1) Goodwill as of July 3, 2021 $ 169 $ 2,820 $ 2,989 See Note 5, Business Acquisitions for further details related to the Company’s acquisitions and purchase price allocation adjustments.

Investments

Investments	6 Months Ended
	Jul. 03, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The carrying value of the Company’s venture investments was $93 million and $77 million as of July 3, 2021 and December 31, 2020, respectively, which are included in Other long-term assets on the Consolidated Balance Sheets. During the three and six months ended July 3, 2021, the Company paid $4 million and $17 million for the purchases of new long-term investments, respectively. Comparatively, during the 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 that additional investment, during the second quarter of 2020 the Company identified an observable price change that resulted in a $7 million gain.

Exit and Restructuring Costs

Exit and Restructuring Costs	6 Months Ended
	Jul. 03, 2021
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 principally occurred within the North America and Europe, Middle East, and Africa (“EMEA”) regions. The 2019 Productivity Plan was completed in the fourth quarter of 2020.  Exit and restructuring charges, primarily related to employee severance and benefits, for the 2019 Productivity Plan were $2 million and $6 million during the three and six months ended June 27, 2020, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 03, 2021
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 in 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 July 3, 2021, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ 2 $ 9 $ — $ 11 Money market investments related to deferred compensation plan 35 — — 35 Total Assets at fair value $ 37 $ 9 $ — $ 46 Liabilities: Forward interest rate swap contracts (2) $ — $ 33 $ — $ 33 Liabilities related to the deferred compensation plan 35 — — 35 Total Liabilities at fair value $ 35 $ 33 $ — $ 68 The Company’s financial assets and liabilities carried at fair value as of December 31, 2020, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Money market investments related to deferred compensation plan $ 30 $ — $ — $ 30 Total Assets at fair value $ 30 $ — $ — $ 30 Liabilities: Foreign exchange contracts (1) $ 3 $ 34 $ — $ 37 Forward interest rate swap contracts (2) — 46 — 46 Liabilities related to the deferred compensation plan 30 — — 30 Total Liabilities at fair value $ 33 $ 80 $ — $ 113 (1) The fair value of the foreign exchange contracts is calculated as follows: • Fair value of regular forward contracts associated with forecasted sales hedges is calculated using the period-end exchange rate adjusted for current forward points. • 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 year 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
	Jul. 03, 2021
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): Asset (Liability) Fair Values as of Balance Sheet Classification July 3, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 9 $ — Foreign exchange contracts Accrued liabilities — (34) Total derivative instruments designated as hedges $ 9 $ (34) Derivative instruments not designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 2 $ — Foreign exchange contracts Accrued liabilities — (3) Forward interest rate swaps Accrued liabilities (17) (17) Forward interest rate swaps Other long-term liabilities (16) (29) Total derivative instruments not designated as hedges $ (31) $ (49) Total net derivative liability $ (22) $ (83) The following table presents the net (losses) gains from changes in fair values of derivatives that are not designated as hedges (in millions): (Losses) Gains Recognized in Income Three Months Ended Six Months Ended Statements of Operations Classification July 3, June 27, July 3, June 27, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange (loss) gain $ (6) $ (7) $ — $ (8) Forward interest rate swaps Interest expense, net (3) (7) 5 (42) Total (losses) gains recognized in income $ (9) $ (14) $ 5 $ (50) 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 $1 million as of July 3, 2021 and would have been unchanged as of December 31, 2020. 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 amounts reclassified to Net sales were $8 million of losses and $6 million of gains for the three months ended July 3, 2021 and June 27, 2020, respectively. Realized amounts reclassified to Net sales were $20 million of losses and $14 million of gains for the six months ended July 3, 2021 and June 27, 2020, respectively. As of July 3, 2021 and December 31, 2020, the notional amounts of the Company’s foreign exchange cash flow hedges were €587 million and €585 million, respectively. The Company has reviewed its cash flow hedges for effectiveness and determined that they are highly effective. The Company uses forward contracts, which are not designated as hedging instruments, to manage its exposures related to net assets denominated in foreign currencies. These forward contracts typically mature within one month after execution. Monetary gains and losses on these forward contracts are recorded in income and are generally offset by the transaction gains and losses related to their net asset positions. The notional values and the net fair value of these outstanding contracts are as follows (in millions): July 3, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 34 £ 10 Euro/U.S. Dollar € 120 € 123 Euro/Czech Koruna € 16 € — Japanese Yen/U.S. Dollar ¥ — ¥ 354 Singapore Dollar/U.S. Dollar S$ 16 S$ 12 Mexican Peso/U.S. Dollar Mex$ 55 Mex$ 36 Polish Zloty/U.S. Dollar zł 79 zł — Net fair value of assets (liabilities) of outstanding contracts $ 2 $ (3) 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 10, 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.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table shows the carrying value of the Company’s debt (in millions): July 3, December 31, Term Loan A $ 888 $ 917 2020 Term Loan — 100 Receivables Financing Facilities 108 235 Total debt $ 996 $ 1,252 Less: Debt issuance costs (3) (5) Less: Unamortized discounts (2) (2) Less: Current portion of debt (47) (364) Total long-term debt $ 944 $ 881 As of July 3, 2021, the future maturities of debt are as follows (in millions): 2021 $ 22 2022 56 2023 81 2024 837 Total future debt maturities $ 996 All borrowings as of July 3, 2021 were denominated in U.S. Dollars. The estimated fair value of the Company’s debt approximated $1.0 billion and $1.3 billion as of July 3, 2021 and December 31, 2020, 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 may 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. Term Loan A The principal on Term Loan A is due in quarterly installments, with the next quarterly installment due in March 2022 and the majority due upon the August 9, 2024 maturity date. The Company may make prepayments, in whole or in part, without premium or penalty, and would be required to prepay certain outstanding amounts in the event of certain circumstances or transactions. As of July 3, 2021, the Term Loan A interest rate was 1.35%. Interest payments are made monthly and are subject to variable rates plus an applicable margin. 2020 Term Loan In September 2020, the Company entered into a new $200 million term loan (“2020 Term Loan”), with the proceeds used to partly fund the acquisition of Reflexis. The Company repaid $100 million of principal in the fourth quarter of 2020 and repaid the remaining $100 million of principal in the first quarter of 2021. Receivables Financing Facilities The Company has two Receivables Financing Facilities with financial institutions that have a combined total borrowing limit 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 allows for borrowings of up to $180 million and matures on March 19, 2024. The Company’s second Receivable Financing Facility allows for borrowings of up to $100 million and matures on May 16, 2022. During the first half of 2021, the Company amended each of these facilities to extend the respective maturities, but otherwise did not substantially change the terms of the facilities. As of July 3, 2021, the Company’s Consolidated Balance Sheets included $548 million of receivables that were pledged under the two Receivables Financing Facilities. As of July 3, 2021, $108 million had been borrowed, of which $22 million was classified as current. Borrowings under the Receivables Financing Facilities bear interest at a variable rate plus an applicable margin. As of July 3, 2021, the Receivables Financing Facilities had an average interest rate of 0.97%. Interest is paid on these borrowings on a monthly basis. Revolving Credit Facility The Company has a Revolving Credit Facility that is available for working capital and other general business purposes, including letters of credit. As of July 3, 2021, the Company had letters of credit totaling $5 million, which reduced funds available for borrowings under the Revolving Credit Facility from $1 billion to $995 million. No borrowings were outstanding under the Revolving Credit Facility as of July 3, 2021. Upon borrowing, interest payments are made monthly and are subject to variable rates plus an applicable margin. The Revolving Credit Facility matures on August 9, 2024. Uncommitted Short-Term Credit Facility The Company also entered into an uncommitted short-term credit facility (“Uncommitted Facility”) in August 2020. The Uncommitted Facility matures on August 26, 2021 and allows for borrowings of up to $20 million. Each borrowing must be repaid within 90 days, or earlier if the facility matures beforehand, and bears interest at a variable rate plus an applicable margin. Along with the Company’s Revolving Credit Facility, the Uncommitted Facility is available for working capital and other general business purposes. As of July 3, 2021, the Company had no outstanding borrowings under the Uncommitted Facility. Each of the Company’s borrowing arrangements described above 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 9 , Derivative Instruments for further information. As of July 3, 2021, the Company was in compliance with all debt covenants.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 03, 2021
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 July 3, June 27, Balance at the beginning of the period $ 24 $ 21 Warranty expense 16 15 Warranties fulfilled (15) (14) Balance at the end of the period $ 25 $ 22 Contingencies The Company is subject to a variety of investigations, claims, suits, and other legal proceedings that arise from time to time in the ordinary course of business, including but not limited to, intellectual property, employment, tort, and breach of contract matters. The Company currently believes that the outcomes of such proceedings, individually and in the aggregate, will not have a material adverse impact on its business, cash flows, financial position, or results of operations. Any legal proceedings are subject to inherent uncertainties, and the Company’s view of these matters and their potential effects may change in the future.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 03, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation In May 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, as well as the Zebra Technologies Corporation 2011 Long-Term Incentive Plan that was previously superseded by the 2015 Plan, remain in effect with respect to outstanding stock appreciation rights that were granted under those plans until such awards have been exercised, forfeited, cancelled, expired or otherwise terminated in accordance with their terms. Awards available under the 2018 Plan include stock-settled awards, including stock-settled restricted stock units, stock-settled performance stock units, restricted stock awards, performance share awards, stock appreciation rights, incentive stock options, and non-qualified stock options. Awards available under the 2018 Plan also include cash-settled awards, including cash-settled stock appreciation rights, cash-settled restricted stock units, and cash-settled performance stock units. No awards remain available for future grants under the 2015 Plan or previous plans. The Company uses treasury shares as its source for issuing shares under the share-based compensation programs. As of July 3, 2021, the Company had 3,212,007 shares of Class A Common stock available to be issued under the 2018 Plan. 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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Cost of sales $ 2 $ 1 $ 4 $ 2 Selling and marketing 7 5 13 6 Research and development 8 4 14 6 General and administration 10 7 17 9 Total compensation expense $ 27 $ 17 $ 48 $ 23 Income tax benefit $ 4 $ 2 $ 7 $ 4 As of July 3, 2021, total unearned compensation costs related to the Company’s share-based compensation plans was $109 million, which will be recognized over the weighted average remaining service period of approximately 1.6 years. Stock-Settled Restricted Stock Units (“stock-settled RSUs”) and Stock-Settled Performance Share Units (“stock-settled PSUs”) The Company began issuing stock-settled RSUs and stock-settled PSUs in the second quarter of 2021. Stock-settled RSUs and stock-settled PSUs each typically vest over a three-year service period, with stock-settled RSUs vesting ratably in three annual installments and stock-settled PSUs vesting at the end of the three-year period. Vesting for each participant is subject to restrictions, such as continuous employment, except in certain cases as set forth in each stock agreement. Upon vesting, stock-settled RSUs and stock-settled PSUs are converted into shares of Class A Common Stock that are released to participants. Compensation cost for the Company’s stock-settled RSUs and stock-settled PSUs is expensed over each participant’s required service period. Compensation cost is calculated as the fair market value of the Company’s Class A Common Stock on grant date multiplied by the number of units granted, net of estimated forfeitures. The fair value of PSUs also includes assumptions around achievement of certain Company-wide financial performance goals. Restricted Stock Awards (“RSAs”) and Performance Share Awards (“PSAs”) Previously, the Company’s restricted stock grants consisted of time-vested RSAs and PSAs as part of the Company’s annual share-based compensation award issuances during the second quarter of each year. These awards hold voting rights and therefore are considered participating securities. Accordingly, 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. Compensation cost for the Company’s RSAs and PSAs is expensed over each participant’s required service period, which is typically three years. Compensation cost is calculated as the fair market value of the Company’s Class A Common Stock on grant date multiplied by the number of units granted, net of estimated forfeitures. The fair value of PSAs also includes assumptions around achievement of certain Company-wide financial performance goals. The Company also issues Class A Common Stock to non-employee directors. Each director receives such stock award annually in the second quarter. The number of shares granted to each non-employee 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. New directors in any fiscal year earn a prorated amount. During the first six months of 2021, there were 2,877 shares granted to non-employee directors compared to 6,314 shares during the first six months of 2020. The shares vest immediately on the grant date. A summary of the Company’s restricted and performance stock-settled awards for the six months ended July 3, 2021 is as follows: RSUs PSUs RSAs PSAs Units Weighted-Average Grant Date Fair Value Units Weighted-Average Grant Date Fair Value Shares Weighted-Average Shares Weighted-Average Grant Date Fair Value Outstanding at beginning of period — $ — — $ — 318,565 $ 228.08 126,022 $ 199.77 Granted 79,057 482.45 38,393 482.42 5,832 483.17 — — Released (101) 482.42 — — (147,135) 202.92 (44,023) 151.72 Forfeited (541) 482.42 (296) 482.42 (5,088) 228.99 (2,102) 237.03 Outstanding at end of period 78,415 $ 482.45 38,097 $ 482.42 172,174 $ 258.20 79,897 $ 225.65 Stock Appreciation Rights (“SARs”) SARs were previously granted primarily as part of the Company’s annual share-based compensation award issuances during the second quarter of each year. Beginning in 2021, the Company no longer included SARs in its annual share-based compensation award issuances; however, may from time-to-time issue additional SARs in the future. A summary of the Company’s SARs for the six months ended July 3, 2021 is as follows: SARs SARs Weighted-Average Exercise Price Outstanding at beginning of period 638,124 $ 113.98 Granted — — Exercised (94,306) 78.73 Forfeited (3,826) 211.28 Outstanding at end of period 539,992 $ 119.46 Exercisable at end of period 446,171 $ 97.73 The following table summarizes information related to the SARs outstanding as of July 3, 2021: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 227 $ 197 Weighted-average remaining contractual life 4.0 3.8 The intrinsic value of SARs exercised during the six months ended July 3, 2021 and June 27, 2020 was $38 million and $31 million, respectively. The total fair value of SARs vested during the six months ended July 3, 2021 and June 27, 2020 was $5 million and $8 million, respectively. Reflexis Replacement Options In connection with the Company’s September 2020 acquisition of Reflexis, the Company assumed the 2016 Stock Incentive Plan of Reflexis Systems, Inc. (the “Reflexis Plan”) and replaced certain unvested options under the Reflexis Plan with Zebra incentive stock options (“Reflexis Replacement Options”). Upon exercise of Reflexis Replacement Options, the Company receives cash proceeds equal to the exercise price and issues whole shares of Class A Common Stock to participants. A summary of the Reflexis Replacement Options outstanding is as follows: Reflexis Replacement Options Options Weighted-Average Exercise Price Outstanding at beginning of period 34,424 $ 58.09 Granted — — Exercised (4,706) 58.85 Forfeited (1,529) 63.01 Outstanding at end of period 28,189 $ 57.78 Exercisable at end of period 14,016 $ 54.88 The following table summarizes information related to the Reflexis Replacement Options outstanding as of July 3, 2021: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 14 $ 7 Weighted-average remaining contractual life 6.9 6.6 The intrinsic value for options exercised during the six months ended July 3, 2021 was $2 million. The total fair value of options vested during the six months ended July 3, 2021 was $3 million. Cash-settled awards The Company also has cash-settled share-based compensation awards, including cash-settled stock appreciation rights, cash-settled restricted stock units and cash-settled performance stock units, which are expensed over the vesting period of the related award, which is up to 4 years. Compensation cost is calculated at the fair value on grant date multiplied by the number of share-equivalents granted. The fair value is remeasured at the end of each reporting period based on the Company’s stock price, with remeasurements reflected as an adjustment to compensation expense in the Consolidated Statements of Operations. Cash settlement is based on the fair value of share equivalents at the time of vesting, which was $9 million and $5 million for the six months ended July 3, 2021 and June 27, 2020, respectively. Share-equivalents issued under these programs totaled 9,262 and 16,194 during the six months ended July 3, 2021 and June 27, 2020, respectively. Employee Stock Purchase Plan In May 2020, the Company’s stockholders approved the Zebra Technologies Corporation 2020 Employee Stock Purchase Plan (“2020 ESPP”), which supersedes the 2011 Employee Stock Purchase Plan (“2011 ESPP”) and became effective on July 1, 2020. Like the 2011 ESPP, the 2020 ESPP permits eligible employees to purchase Company Class A Common Stock at 95% of the fair market value at the date of purchase. Employees may make purchases by cash or payroll deductions up to certain limits. The aggregate number of shares that may be purchased under the 2020 ESPP is 1,500,000 shares. As of July 3, 2021, 1,461,757 shares remained available for future purchase.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three and six months ended July 3, 2021 was 8.0% and 13.0%, respectively, compared to 2.9% and 8.3%, respectively, for the comparable periods ended June 27, 2020. In both the current and prior year periods, the variance from the 21% federal statutory rate was attributable to the benefits of share-based compensation deductions, lower tax rates on foreign earnings, and U.S. tax credits. The three and six month periods ended July 3, 2021 benefited from the remeasurement of deferred tax assets associated with the enactment of a corporate tax rate increase in the U.K. during the second quarter of 2021. The Company is continually monitoring the provisions of the American Rescue Plan Act, signed into law on March 11, 2021; the Consolidated Appropriations Act of 2021, signed into law on December 27, 2020; and the Coronavirus Aid, Relief and Economic Security Act, signed into law on March 27, 2020. The provisions of these laws did not have a significant impact to our effective tax rate in either the current or prior year. Management continues to monitor guidance regarding these laws and developments related to other coronavirus tax relief throughout the world for potential impacts. The Company earns a significant amount of its operating income outside of the U.S that is taxed at rates different than the U.S. federal statutory rate. The Company’s principal foreign jurisdictions that provide sources of operating income are the U.K. and Singapore. During the second quarter of 2021, the U.K. government enacted a change in law that increases the corporate tax rate from 19% to 25%, with such rate change becoming effective in April 2023. Upon enactment, we remeasured our deferred tax assets to reflect the 25% statutory rate to the extent such tax benefits are expected to be realized in the future at the amended statutory rate. In addition, the Company has received an incentivized tax rate from the Singapore Economic Development Board, which reduces the income tax rate in that jurisdiction 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. 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”), while any remaining foreign earnings are eligible for a dividends received deduction under the Act. As a result, future repatriation of earnings will not be subject to U.S. federal income tax but may be subject to currency translation gains or losses. Where required, the Company has recorded a deferred tax liability for foreign withholding taxes on current earnings. Additionally, gains and losses on any future taxable dispositions of U.S.-owned foreign affiliates continue to be subject to U.S. income 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. There were no changes to our valuation allowance during the three and six months ended July 3, 2021. Uncertain Tax Positions The Company is currently undergoing U.S. federal income tax audits for tax years 2017 and 2018.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 03, 2021
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 July 3, June 27, July 3, June 27, Basic: Net income $ 219 $ 100 $ 447 $ 189 Weighted-average shares outstanding 53,449,143 53,188,486 53,460,495 53,533,116 Basic earnings per share $ 4.10 $ 1.87 $ 8.36 $ 3.53 Diluted: Net income $ 219 $ 100 $ 447 $ 189 Weighted-average shares outstanding 53,449,143 53,188,486 53,460,495 53,533,116 Dilutive shares 459,152 487,244 469,608 522,208 Diluted weighted-average shares outstanding 53,908,295 53,675,730 53,930,103 54,055,324 Diluted earnings per share $ 4.07 $ 1.85 $ 8.29 $ 3.49 Anti-dilutive options to purchase common shares are excluded from diluted earnings per share calculations. No shares were anti-dilutive for the three and six months ended July 3, 2021. 108,950 and 89,091 shares were anti-dilutive for the three and six months ended June 27, 2020, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 03, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Stockholders’ equity includes certain items classified as AOCI, including: • Unrealized gain (loss) 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 9, Derivative Instruments for more details. • 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 July 3, 2021 and June 27, 2020 are as follows (in millions): Unrealized gain (loss) on sales hedging Foreign currency translation adjustments Total Balance at December 31, 2019 $ 2 $ (46) $ (44) Other comprehensive income (loss) 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) Balance at December 31, 2020 $ (28) $ (41) $ (69) Other comprehensive income (loss) before reclassifications 23 (3) 20 Amounts reclassified from AOCI (1) 20 — 20 Tax effect (9) — (9) Other comprehensive income (loss), net of tax 34 (3) 31 Balance at July 3, 2021 $ 6 $ (44) $ (38) (1) See Note 9, Derivative Instruments

Accounts Receivable Factoring

Accounts Receivable Factoring	6 Months Ended
	Jul. 03, 2021
Transfers and Servicing [Abstract]
Accounts Receivable Factoring	Accounts Receivable Factoring The Company has 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 used in financing activities on the Consolidated Statements of Cash Flows. In May 2021, one of the Company’s Receivables Factoring arrangements that was no longer actively utilized expired. As of July 3, 2021, the Company has two remaining active Receivables Factoring arrangements. One arrangement allows for the factoring of up to $50 million of uncollected receivables originated from the EMEA region. The second arrangement allows for the factoring of up to €150 million of uncollected receivables originated from the EMEA and Asia-Pacific regions. With respect to the second arrangement, 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 $21 million and $24 million as of July 3, 2021 and December 31, 2020, respectively, and is classified within Prepaid expenses and other current assets on the Consolidated Balance Sheets. During the six months ended July 3, 2021 and June 27, 2020, the Company received cash proceeds of $814 million and $508 million, respectively, from the sales of accounts receivables under its factoring arrangements. As of July 3, 2021 and December 31, 2020, there were a total of $45 million and $70 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 $140 million and $142 million of obligations that were not yet remitted to banks as of July 3, 2021 and December 31, 2020, respectively. These obligations are included within Accrued liabilities on the Consolidated Balance Sheets, with changes in such obligations reflected within Net cash used in 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
	Jul. 03, 2021
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 business acquisition 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. Effective January 1, 2021, the retail solutions offering moved from our AIT segment into our EVM segment contemporaneous with a change in our organizational structure and management of the business. Prior period results have been revised to conform to the current segment presentation. This change does not have an impact on the Consolidated Financial Statements. Financial information by segment is presented as follows (in millions): Three Months Ended Six Months Ended July 3, June 27, July 3, June 27, Net sales: AIT $ 421 $ 273 $ 857 $ 628 EVM 959 683 1,873 1,380 Total segment Net sales 1,380 956 2,730 2,008 Corporate, eliminations (1) (3) — (6) — Total Net sales $ 1,377 $ 956 $ 2,724 $ 2,008 Operating income: AIT (2) $ 97 $ 52 $ 206 $ 134 EVM (2) 183 89 376 184 Total segment operating income 280 141 582 318 Corporate, eliminations (1) (33) (22) (63) (48) Total Operating income $ 247 $ 119 $ 519 $ 270 (1) To the extent applicable, amounts included in Corporate, eliminations consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, and product sourcing diversification costs. (2) 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. 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 July 3, June 27, July 3, June 27, North America $ 707 $ 502 $ 1,380 $ 1,021 EMEA 464 306 954 694 Asia-Pacific 137 110 257 207 Latin America 69 38 133 86 Total Net sales $ 1,377 $ 956 $ 2,724 $ 2,008

Subsequent Event

Subsequent Event	6 Months Ended
	Jul. 03, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event [ On July 28, 2021, the Company entered into a definitive agreement to acquire Antuit Holdings Pte. Ltd, a provider of demand-sensing software solutions for retail and consumer products companies. The aggregate purchase consideration is expected to be approximately $155 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 in the third quarter of 2021. The acquired business will become part of the EVM segment. ]

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update 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”). 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 on its financial results.
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. Revenues for products are generally recognized upon shipment, whereas revenues for services and solutions offerings are generally recognized by using an output or time-based method, assuming all other criteria for revenue recognition have been met. Revenues for software are recognized either upon delivery or using a time-based method, depending upon how control is transferred to the customer. In cases where a bundle of products, services, and/or software are delivered to the customer, judgment is required to select the method of progress which best reflects the transfer of control. Contract Balances Progress on satisfying performance obligations under contracts with customers related to billed revenues is reflected on the Consolidated Balance Sheets in Accounts receivable, net. 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 twelve months, and Other long-term assets for revenues expected to be billed thereafter. The total contract asset balances were $10 million each as of July 3, 2021 and December 31, 2020, 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
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 in 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	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
	Jul. 03, 2021
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 product category for each of our segments, AIT and EVM, for the three and six months ended July 3, 2021 and June 27, 2020 (in millions): Three Months Ended July 3, 2021 June 27, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 393 $ 28 $ 421 $ 251 $ 22 $ 273 EVM 799 160 959 560 123 683 Corporate, eliminations (1) — (3) (3) — — — Total $ 1,192 $ 185 $ 1,377 $ 811 $ 145 $ 956 Six Months Ended July 3, 2021 June 27, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 803 $ 54 $ 857 $ 584 $ 44 $ 628 EVM 1,542 331 1,873 1,128 252 1,380 Corporate, eliminations (1) — (6) (6) — — — Total $ 2,345 $ 379 $ 2,724 $ 1,712 $ 296 $ 2,008 (1) Amounts included in Corporate, eliminations consist of purchase accounting adjustments.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 03, 2021
Inventory Disclosure [Abstract]
Schedule of Components of Inventories, Net	The components of Inventories, net are as follows (in millions): July 3, December 31, Raw materials $ 108 $ 117 Work in process 4 4 Finished goods 373 390 Total Inventories, net $ 485 $ 511

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the net carrying value of goodwill by segment were as follows (in millions): AIT EVM Total Goodwill as of December 31, 2020 $ 228 $ 2,760 $ 2,988 Retail solutions offering move to EVM segment, effective January 1, 2021 (59) 59 — Adaptive Vision acquisition — 7 7 Reflexis purchase price allocation adjustments — (5) (5) Reflexis purchase price reduction — (1) (1) Goodwill as of July 3, 2021 $ 169 $ 2,820 $ 2,989

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Carried at Fair Value	The Company’s financial assets and liabilities carried at fair value as of July 3, 2021, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ 2 $ 9 $ — $ 11 Money market investments related to deferred compensation plan 35 — — 35 Total Assets at fair value $ 37 $ 9 $ — $ 46 Liabilities: Forward interest rate swap contracts (2) $ — $ 33 $ — $ 33 Liabilities related to the deferred compensation plan 35 — — 35 Total Liabilities at fair value $ 35 $ 33 $ — $ 68 The Company’s financial assets and liabilities carried at fair value as of December 31, 2020, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Money market investments related to deferred compensation plan $ 30 $ — $ — $ 30 Total Assets at fair value $ 30 $ — $ — $ 30 Liabilities: Foreign exchange contracts (1) $ 3 $ 34 $ — $ 37 Forward interest rate swap contracts (2) — 46 — 46 Liabilities related to the deferred compensation plan 30 — — 30 Total Liabilities at fair value $ 33 $ 80 $ — $ 113 (1) The fair value of the foreign exchange contracts is calculated as follows: • Fair value of regular forward contracts associated with forecasted sales hedges is calculated using the period-end exchange rate adjusted for current forward points. • 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 year 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
	Jul. 03, 2021
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): Asset (Liability) Fair Values as of Balance Sheet Classification July 3, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 9 $ — Foreign exchange contracts Accrued liabilities — (34) Total derivative instruments designated as hedges $ 9 $ (34) Derivative instruments not designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 2 $ — Foreign exchange contracts Accrued liabilities — (3) Forward interest rate swaps Accrued liabilities (17) (17) Forward interest rate swaps Other long-term liabilities (16) (29) Total derivative instruments not designated as hedges $ (31) $ (49) Total net derivative liability $ (22) $ (83)
Schedule of (Losses) Gains Recognized in Income	The following table presents the net (losses) gains from changes in fair values of derivatives that are not designated as hedges (in millions): (Losses) Gains Recognized in Income Three Months Ended Six Months Ended Statements of Operations Classification July 3, June 27, July 3, June 27, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange (loss) gain $ (6) $ (7) $ — $ (8) Forward interest rate swaps Interest expense, net (3) (7) 5 (42) Total (losses) gains recognized in income $ (9) $ (14) $ 5 $ (50)
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): July 3, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 34 £ 10 Euro/U.S. Dollar € 120 € 123 Euro/Czech Koruna € 16 € — Japanese Yen/U.S. Dollar ¥ — ¥ 354 Singapore Dollar/U.S. Dollar S$ 16 S$ 12 Mexican Peso/U.S. Dollar Mex$ 55 Mex$ 36 Polish Zloty/U.S. Dollar zł 79 zł — Net fair value of assets (liabilities) of outstanding contracts $ 2 $ (3)

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jul. 03, 2021
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): July 3, December 31, Term Loan A $ 888 $ 917 2020 Term Loan — 100 Receivables Financing Facilities 108 235 Total debt $ 996 $ 1,252 Less: Debt issuance costs (3) (5) Less: Unamortized discounts (2) (2) Less: Current portion of debt (47) (364) Total long-term debt $ 944 $ 881
Schedule of Future Maturities of Long-term Debt	As of July 3, 2021, the future maturities of debt are as follows (in millions): 2021 $ 22 2022 56 2023 81 2024 837 Total future debt maturities $ 996

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 03, 2021
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 July 3, June 27, Balance at the beginning of the period $ 24 $ 21 Warranty expense 16 15 Warranties fulfilled (15) (14) Balance at the end of the period $ 25 $ 22

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jul. 03, 2021
Share-based Payment Arrangement [Abstract]
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 July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 Cost of sales $ 2 $ 1 $ 4 $ 2 Selling and marketing 7 5 13 6 Research and development 8 4 14 6 General and administration 10 7 17 9 Total compensation expense $ 27 $ 17 $ 48 $ 23 Income tax benefit $ 4 $ 2 $ 7 $ 4
Summary of Restricted and Performance Stock-settled Awards	A summary of the Company’s restricted and performance stock-settled awards for the six months ended July 3, 2021 is as follows: RSUs PSUs RSAs PSAs Units Weighted-Average Grant Date Fair Value Units Weighted-Average Grant Date Fair Value Shares Weighted-Average Shares Weighted-Average Grant Date Fair Value Outstanding at beginning of period — $ — — $ — 318,565 $ 228.08 126,022 $ 199.77 Granted 79,057 482.45 38,393 482.42 5,832 483.17 — — Released (101) 482.42 — — (147,135) 202.92 (44,023) 151.72 Forfeited (541) 482.42 (296) 482.42 (5,088) 228.99 (2,102) 237.03 Outstanding at end of period 78,415 $ 482.45 38,097 $ 482.42 172,174 $ 258.20 79,897 $ 225.65
Summary of SARs Activity	A summary of the Company’s SARs for the six months ended July 3, 2021 is as follows: SARs SARs Weighted-Average Exercise Price Outstanding at beginning of period 638,124 $ 113.98 Granted — — Exercised (94,306) 78.73 Forfeited (3,826) 211.28 Outstanding at end of period 539,992 $ 119.46 Exercisable at end of period 446,171 $ 97.73 The following table summarizes information related to the SARs outstanding as of July 3, 2021: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 227 $ 197 Weighted-average remaining contractual life 4.0 3.8
Summary of Reflexis Replacement Options Outstanding	A summary of the Reflexis Replacement Options outstanding is as follows: Reflexis Replacement Options Options Weighted-Average Exercise Price Outstanding at beginning of period 34,424 $ 58.09 Granted — — Exercised (4,706) 58.85 Forfeited (1,529) 63.01 Outstanding at end of period 28,189 $ 57.78 Exercisable at end of period 14,016 $ 54.88 The following table summarizes information related to the Reflexis Replacement Options outstanding as of July 3, 2021: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 14 $ 7 Weighted-average remaining contractual life 6.9 6.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Earnings per Share	Earnings per share (in millions, except share data): Three Months Ended Six Months Ended July 3, June 27, July 3, June 27, Basic: Net income $ 219 $ 100 $ 447 $ 189 Weighted-average shares outstanding 53,449,143 53,188,486 53,460,495 53,533,116 Basic earnings per share $ 4.10 $ 1.87 $ 8.36 $ 3.53 Diluted: Net income $ 219 $ 100 $ 447 $ 189 Weighted-average shares outstanding 53,449,143 53,188,486 53,460,495 53,533,116 Dilutive shares 459,152 487,244 469,608 522,208 Diluted weighted-average shares outstanding 53,908,295 53,675,730 53,930,103 54,055,324 Diluted earnings per share $ 4.07 $ 1.85 $ 8.29 $ 3.49

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jul. 03, 2021
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss (AOCI)	The components of AOCI for the six months ended July 3, 2021 and June 27, 2020 are as follows (in millions): Unrealized gain (loss) on sales hedging Foreign currency translation adjustments Total Balance at December 31, 2019 $ 2 $ (46) $ (44) Other comprehensive income (loss) 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) Balance at December 31, 2020 $ (28) $ (41) $ (69) Other comprehensive income (loss) before reclassifications 23 (3) 20 Amounts reclassified from AOCI (1) 20 — 20 Tax effect (9) — (9) Other comprehensive income (loss), net of tax 34 (3) 31 Balance at July 3, 2021 $ 6 $ (44) $ (38) (1) See Note 9, Derivative Instruments

Segment Information & Geograp_2

Segment Information & Geographic Data (Tables)	6 Months Ended
	Jul. 03, 2021
Segment Reporting [Abstract]
Schedule of Financial Information by Segments	Financial information by segment is presented as follows (in millions): Three Months Ended Six Months Ended July 3, June 27, July 3, June 27, Net sales: AIT $ 421 $ 273 $ 857 $ 628 EVM 959 683 1,873 1,380 Total segment Net sales 1,380 956 2,730 2,008 Corporate, eliminations (1) (3) — (6) — Total Net sales $ 1,377 $ 956 $ 2,724 $ 2,008 Operating income: AIT (2) $ 97 $ 52 $ 206 $ 134 EVM (2) 183 89 376 184 Total segment operating income 280 141 582 318 Corporate, eliminations (1) (33) (22) (63) (48) Total Operating income $ 247 $ 119 $ 519 $ 270 (1) To the extent applicable, amounts included in Corporate, eliminations consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, and product sourcing diversification costs. (2) 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.
Schedule of Net Sales to Customers by Geographic Region	Geographic data for Net sales is as follows (in millions): Three Months Ended Six Months Ended July 3, June 27, July 3, June 27, North America $ 707 $ 502 $ 1,380 $ 1,021 EMEA 464 306 954 694 Asia-Pacific 137 110 257 207 Latin America 69 38 133 86 Total Net sales $ 1,377 $ 956 $ 2,724 $ 2,008

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue By Product Category And Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Disaggregation of Revenue [Line Items]
Total Net sales	$ 1,377	$ 956	$ 2,724	$ 2,008
Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	1,192	811	2,345	1,712
Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	185	145	379	296
Operating segments
Disaggregation of Revenue [Line Items]
Total Net sales	1,380	956	2,730	2,008
Operating segments | AIT
Disaggregation of Revenue [Line Items]
Total Net sales	421	273	857	628
Operating segments | AIT | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	393	251	803	584
Operating segments | AIT | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	28	22	54	44
Operating segments | EVM
Disaggregation of Revenue [Line Items]
Total Net sales	959	683	1,873	1,380
Operating segments | EVM | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	799	560	1,542	1,128
Operating segments | EVM | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	160	123	331	252
Corporate, eliminations
Disaggregation of Revenue [Line Items]
Total Net sales	(3)	0	(6)	0
Corporate, eliminations | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	0	0	0	0
Corporate, eliminations | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	$ (3)	$ 0	$ (6)	$ 0

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligation (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation		$ 974
Remaining performance obligation, expected recognition period		2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,005
Remaining performance obligation, expected recognition period	2 years

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Dec. 31, 2020
Revenue From Contract With Customer, Assets And Liabilities [Line Items]
Capitalized contract, impairment loss	$ 0	$ 0	$ 0	$ 0
Deferred revenue balances	647,000,000		647,000,000		$ 581,000,000
Revenue recognized that was included in contract liability	75,000,000	$ 84,000,000	185,000,000	$ 157,000,000
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	$ 10,000,000		$ 10,000,000		$ 10,000,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 108	$ 117
Work in process	4	4
Finished goods	373	390
Total Inventories, net	$ 485	$ 511

Business Acquisitions (Details)

Business Acquisitions (Details) - USD ($) $ in Millions	Jun. 30, 2021	May 17, 2021	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Cash purchase consideration, net of cash acquired					$ 17	$ 0
Goodwill			$ 2,989		2,989		$ 2,988
Acquisition and integration costs			4	$ 1	5	$ 2
Adaptive Vision
Business Acquisition [Line Items]
Cash purchase consideration, net of cash acquired		$ 18
Goodwill		7	7		7
Adaptive Vision | Technology-related intangible assets
Business Acquisition [Line Items]
Cash purchase consideration net of cash on-hand		$ 13
Estimated useful life		8 years
Reflexis
Business Acquisition [Line Items]
Increase to deferred tax liabilities			4
Goodwill measurement period adjustments			5		$ 1
Decrease in goodwill			1
Reflexis | Trade names
Business Acquisition [Line Items]
Increase in intangible assets			$ (9)
Fetch Robotics | Expected
Business Acquisition [Line Items]
Aggregate purchase consideration	$ 305

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 03, 2021	Jul. 03, 2021
Goodwill [Roll Forward]
Beginning balance		$ 2,988
Retail solutions offering move to EVM segment, effective January 1, 2021		0
Ending balance	$ 2,989	2,989
Adaptive Vision
Goodwill [Roll Forward]
Ending balance	7	7
Reflexis
Goodwill [Roll Forward]
Reflexis purchase price allocation adjustments		(5)
Reflexis purchase price reduction	(5)	(1)
AIT
Goodwill [Roll Forward]
Beginning balance		228
Retail solutions offering move to EVM segment, effective January 1, 2021		(59)
Ending balance	169	169
AIT | Adaptive Vision
Goodwill [Roll Forward]
Adaptive Vision acquisition		0
AIT | Reflexis
Goodwill [Roll Forward]
Reflexis purchase price allocation adjustments		0
Reflexis purchase price reduction		0
EVM
Goodwill [Roll Forward]
Beginning balance		2,760
Retail solutions offering move to EVM segment, effective January 1, 2021		59
Ending balance	$ 2,820	2,820
EVM | Adaptive Vision
Goodwill [Roll Forward]
Adaptive Vision acquisition		7
EVM | Reflexis
Goodwill [Roll Forward]
Reflexis purchase price allocation adjustments		(5)
Reflexis purchase price reduction		$ (1)

Investments (Details)

Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Equity securities held	$ 93		$ 93		$ 77
Purchases of long-term investments	4		17	$ 32
Debt and equity securities, unrealized gain		$ 7
Gain (loss) on investments	$ (1)	$ 7	$ 0	$ 7

Exit and Restructuring Costs (D

Exit and Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Restructuring Cost and Reserve [Line Items]
Exit and restructuring costs	$ 0	$ 2	$ 0	$ 6
2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Exit and restructuring costs		$ 2		$ 6

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	$ 46	$ 30
Liabilities related to the deferred compensation plan	35	30
Total Liabilities at fair value	68	113
Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	11
Derivative liabilities		37
Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	33	46
Money market investments related to deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments related to deferred compensation plan	35	30
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	37	30
Liabilities related to the deferred compensation plan	35	30
Total Liabilities at fair value	35	33
Level 1 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2
Derivative liabilities		3
Level 1 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	0
Level 1 | Money market investments related to deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments related to deferred compensation plan	35	30
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	9	0
Liabilities related to the deferred compensation plan	0	0
Total Liabilities at fair value	33	80
Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	9
Derivative liabilities		34
Level 2 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	33	46
Level 2 | Money market investments related to deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments related to deferred compensation plan	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	0	0
Liabilities related to the deferred compensation plan	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]
Derivative asset	0
Derivative liabilities		0
Level 3 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	0
Level 3 | Money market investments related to deferred compensation plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investments related to deferred compensation plan	$ 0	$ 0

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Derivative [Line Items]
Total net derivative liability	$ (22)	$ (83)
Derivative instruments designated as hedges
Derivative [Line Items]
Total net derivative liability	9	(34)
Derivative instruments designated as hedges | Foreign exchange contracts | Prepaid expenses and other current assets
Derivative [Line Items]
Total Assets at fair value	9	0
Derivative instruments designated as hedges | Foreign exchange contracts | Accrued liabilities
Derivative [Line Items]
Total Liabilities at fair value	0	(34)
Derivative instruments not designated as hedges
Derivative [Line Items]
Total net derivative liability	(31)	(49)
Derivative instruments not designated as hedges | Foreign exchange contracts | Prepaid expenses and other current assets
Derivative [Line Items]
Total Assets at fair value	2	0
Derivative instruments not designated as hedges | Foreign exchange contracts | Accrued liabilities
Derivative [Line Items]
Total Liabilities at fair value	0	(3)
Derivative instruments not designated as hedges | Forward interest rate swaps | Accrued liabilities
Derivative [Line Items]
Total Liabilities at fair value	(17)	(17)
Derivative instruments not designated as hedges | Forward interest rate swaps | Other long-term liabilities
Derivative [Line Items]
Total Liabilities at fair value	$ (16)	$ (29)

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of (Losses) Gains Recognized in Income (Details) - Derivative instruments not designated as hedges - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total (losses) gains recognized in income	$ (9)	$ (14)	$ 5	$ (50)
Foreign exchange contracts | Foreign exchange (loss) gain
Derivative Instruments, Gain (Loss) [Line Items]
Total (losses) gains recognized in income	(6)	(7)	0	(8)
Forward interest rate swaps | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Total (losses) gains recognized in income	$ (3)	$ (7)	$ 5	$ (42)

Derivative Instruments - Narrat

Derivative Instruments - Narratives (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021USD ($)	Jun. 27, 2020USD ($)	Jul. 03, 2021USD ($)	Jun. 27, 2020USD ($)	Jul. 03, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Sep. 28, 2019USD ($)	Dec. 31, 2017USD ($)
Foreign exchange contracts
Change in unrealized gain (loss) on anticipated sales hedging:
Derivative, increase in asset (liability) positions	$ (1)		$ (1)			$ (1)
Foreign exchange forward | Derivative instruments designated as hedges | Cash flow hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Maturity period			12 months
Notional amounts | €					€ 587		€ 585
Foreign exchange forward | Derivative instruments designated as hedges | Net sales | Cash flow hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Net sales of losses	$ 8		$ 20
Net sales of gain		$ 6		$ 14
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:
Notional amounts								$ 800	$ 800

Derivative Instruments - Notion

Derivative Instruments - Notional Values and Net Fair Value of Outstanding Contracts (Details) - Foreign exchange forward € in Millions, ¥ in Millions, £ in Millions, zł in Millions, Kč in Millions, $ in Millions, $ in Millions, $ in Millions

Jul. 03, 2021GBP (£)

Jul. 03, 2021EUR (€)

Jul. 03, 2021CZK (Kč)

Jul. 03, 2021JPY (¥)

Jul. 03, 2021SGD ($)

Jul. 03, 2021MXN ($)

Jul. 03, 2021PLN (zł)

Jul. 03, 2021USD ($)

Dec. 31, 2020GBP (£)

Dec. 31, 2020EUR (€)

Dec. 31, 2020CZK (Kč)

Dec. 31, 2020JPY (¥)

Dec. 31, 2020SGD ($)

Dec. 31, 2020MXN ($)

Dec. 31, 2020PLN (zł)

Dec. 31, 2020USD ($)

Derivative [Line Items]

Notional balance of outstanding contracts

£ 34

€ 120

Kč 16

¥ 0

$ 16

$ 55

zł 79

£ 10

€ 123

Kč 0

¥ 354

$ 12

$ 36

zł 0

Net fair value of assets (liabilities) of outstanding contracts

$ 2

$ (3)

Long-Term Debt - Summary of Car

Long-Term Debt - Summary of Carrying Value of Debt (Details) - USD ($) $ in Millions	Jul. 03, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total future debt maturities	$ 996	$ 1,252
Less: Debt issuance costs	(3)	(5)
Less: Unamortized discounts	(2)	(2)
Less: Current portion of debt	(47)	(364)
Total long-term debt	944	881
Term Loan | Term Loan A
Debt Instrument [Line Items]
Total future debt maturities	888	917
Term Loan | 2020 Term Loan
Debt Instrument [Line Items]
Total future debt maturities	0	100
Secured Debt | Receivables Financing Facilities
Debt Instrument [Line Items]
Total future debt maturities	$ 108	$ 235

Long-Term Debt - Future Maturit

Long-Term Debt - Future Maturities of Long-Term Debt (Details) $ in Millions	Jul. 03, 2021USD ($)
Debt Disclosure [Abstract]
2021	$ 22
2022	56
2023	81
2024	837
Total future debt maturities	$ 996

Long-Term Debt - Narratives (De

Long-Term Debt - Narratives (Details) - USD ($) $ in Billions	Jul. 03, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term debt, fair value	$ 1	$ 1.3

Long-Term Debt - Term Loan (Det

Long-Term Debt - Term Loan (Details) - Term Loan - USD ($)	3 Months Ended
	Apr. 03, 2021	Dec. 31, 2020	Jul. 03, 2021	Sep. 30, 2020
Term Loan A
Debt Instrument [Line Items]
Percentage bearing variable interest, percentage rate			1.35%
2020 Term Loan
Debt Instrument [Line Items]
Proceeds from debt issuance				$ 200,000,000
Debt repaid	$ 100,000,000	$ 100,000,000

Long-Term Debt - Receivable Fin

Long-Term Debt - Receivable Financing Facility (Details) - Secured Debt	Jul. 03, 2021USD ($)facility	Mar. 31, 2021USD ($)	May 31, 2020USD ($)
Receivables Financing Facilities
Line of Credit Facility [Line Items]
Number of receivable financing facilities | facility	2
Total borrowing limits	$ 280,000,000
Accounts receivable pledged	548,000,000
Outstanding borrowings	108,000,000
Outstanding borrowings, current	$ 22,000,000
Average interest rate	0.97%
Receivables Financing Facility, Amended March 2021
Line of Credit Facility [Line Items]
Total borrowing limits		$ 180,000,000
Receivables Financing Facility, Amended May 2021
Line of Credit Facility [Line Items]
Total borrowing limits			$ 100,000,000

Long-Term Debt - Revolving Cred

Long-Term Debt - Revolving Credit Facility (Details) - Revolving Credit Facility	Jul. 03, 2021USD ($)
Line of Credit Facility [Line Items]
Letters of credit	$ 5,000,000
Revolving credit facility maximum borrowing capacity	1,000,000,000
Funds available for other borrowing	995,000,000
Outstanding borrowings	$ 0

Long-Term Debt - Uncommitted Sh

Long-Term Debt - Uncommitted Short-Term Credit Facility (Details) - Uncommitted Short-Term Credit Facility - USD ($)	1 Months Ended
	Aug. 31, 2020	Jul. 03, 2021
Line of Credit Facility [Line Items]
Revolving credit facility maximum borrowing capacity	$ 20,000,000
Borrowing repaid	90 days
Outstanding borrowings		$ 0

Commitments and Contingencies -

Commitments and Contingencies -Summary of Accrued Warranty Obligation (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 24	$ 21
Warranty expense	16	15
Warranties fulfilled	(15)	(14)
Balance at the end of the period	$ 25	$ 22

Commitments and Contingencies_2

Commitments and Contingencies - Narratives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Dec. 31, 2020	Jul. 03, 2021
Loss Contingencies [Line Items]
Recovered, import duties paid previously	$ 12	$ 12	$ 15
AIT
Loss Contingencies [Line Items]
Recovered, import duties paid previously	7	4	8
EVM
Loss Contingencies [Line Items]
Recovered, import duties paid previously	$ 5	$ 8	$ 7

Share-Based Compensation - Narr

Share-Based Compensation - Narratives (Details) $ in Millions	6 Months Ended
	Jul. 03, 2021USD ($)installmentshares	Jun. 27, 2020USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unearned compensation costs related to performance share awards | $	$ 109
Total unearned compensation costs amortization period	1 year 7 months 6 days
Number of annual installments | installment	3
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	0
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	3,212,007
Stock-settled RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Future service period	3 years
Granted (in shares)	79,057
Stock-settled PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Future service period	3 years
Granted (in shares)	38,393
Stock-settled RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	5,832
Stock-settled RSUs | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	2,877	6,314
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of exercised options | $	$ 38	$ 31
Fair value of SARs vested in period | $	5	$ 8
Reflexis Replacement Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of exercised options | $	2
Fair value of SARs vested in period | $	$ 3

Share-Based Compensation - Comp

Share-Based Compensation - Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 27	$ 17	$ 48	$ 23
Income tax benefit	4	2	7	4
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	2	1	4	2
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	7	5	13	6
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	8	4	14	6
General and administration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 10	$ 7	$ 17	$ 9

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted and Performance Stock-settled Awards (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jul. 03, 2021USD ($)$ / sharesshares
RSUs
Restricted Stock Awards and Units
Outstanding at beginning of period (in shares) | shares	0
Granted (in shares) | shares	79,057
Released (in shares) | shares	(101)
Forfeited (in shares) | shares	(541)
Outstanding at end of period (in shares) | shares	78,415
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 0
Released (USD per share) | $ / shares	482.45
Vested (USD per share) | $ / shares	482.42
Forfeited (USD per share) | $ / shares	482.42
Outstanding at end of year (USD per share) | $ / shares	$ 482.45
PSUs
Restricted Stock Awards and Units
Outstanding at beginning of period (in shares) | shares	0
Granted (in shares) | shares	38,393
Released (in shares) | shares	0
Forfeited (in shares) | shares	(296)
Outstanding at end of period (in shares) | shares	38,097
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 0
Released (USD per share) | $ / shares	482.42
Vested (USD per share) | $ / shares	0
Forfeited (USD per share) | $ / shares	482.42
Outstanding at end of year (USD per share) | $ / shares	$ 482.42
RSAs
Restricted Stock Awards and Units
Outstanding at beginning of period (in shares) | shares	318,565
Granted (in shares) | shares	5,832
Released (in shares) | shares	(147,135)
Forfeited (in shares) | shares	(5,088)
Outstanding at end of period (in shares) | shares	172,174
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 228.08
Released (USD per share) | $ / shares	483.17
Vested (USD per share) | $ / shares	202.92
Forfeited (USD per share) | $ / shares	228.99
Outstanding at end of year (USD per share) | $ / shares	$ 258.20
PSAs
Restricted Stock Awards and Units
Outstanding at beginning of period (in shares) | shares	126,022
Granted (in shares) | shares	0
Released (in shares) | shares	(44,023)
Forfeited (in shares) | shares	(2,102)
Outstanding at end of period (in shares) | shares	79,897
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 199.77
Released (USD per share) | $ / shares	0
Vested (USD per share) | $ / shares	151.72
Forfeited (USD per share) | $ / shares	237.03
Outstanding at end of year (USD per share) | $ / shares	$ 225.65
SARs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Aggregate intrinsic value - outstanding | $	$ 227
Aggregate intrinsic value - exercisable | $	$ 197
Weighted-average remaining contractual life - outstanding	4 years
Weighted-average remaining contractual life - exercisable	3 years 9 months 18 days

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Outstanding and Exercisable Options and SARs (Details) - SARs	6 Months Ended
	Jul. 03, 2021$ / sharesshares
SARs, Shares Outstanding
Outstanding at beginning of period (in shares) | shares	638,124
Granted (in shares) | shares	0
Exercised (in shares) | shares	(94,306)
Forfeited (in shares) | shares	(3,826)
Outstanding at end of period (in shares) | shares	539,992
Exercisable at end of period (in shares) | shares	446,171
Weighted-Average Exercise Price
Outstanding at beginning of period (usd per share) | $ / shares	$ 113.98
Granted (usd per share) | $ / shares	0
Exercised (usd per share) | $ / shares	78.73
Forfeited (usd per share) | $ / shares	211.28
Outstanding at end of period (usd per share) | $ / shares	119.46
Exercisable at end of period (usd per share) | $ / shares	$ 97.73

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of SARs Outstanding (Details) - SARs $ in Millions	6 Months Ended
	Jul. 03, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value - outstanding	$ 227
Weighted-average remaining contractual life - outstanding	4 years
Aggregate intrinsic value - exercisable	$ 197
Weighted-average remaining contractual life - exercisable	3 years 9 months 18 days

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Reflexis Replacement Options (Details) - Reflexis Replacement Options $ / shares in Units, $ in Millions	6 Months Ended
	Jul. 03, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares) | shares	34,424
Granted (in shares) | shares	0
Exercised (in shares) | shares	(4,706)
Forfeited (in shares) | shares	(1,529)
Outstanding at end of period (in shares) | shares	28,189
Exercisable at end of period (in shares) | shares	14,016
Weighted-Average Exercise Price
Outstanding at beginning of period (usd per share) | $ / shares	$ 58.09
Granted (usd per share) | $ / shares	0
Exercised (usd per share) | $ / shares	58.85
Forfeited (USD per share) | $ / shares	63.01
Outstanding at end of period (usd per share) | $ / shares	57.78
Exercisable at end of period (usd per share) | $ / shares	$ 54.88
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Aggregate intrinsic value - outstanding | $	$ 14
Aggregate intrinsic value - exercisable | $	$ 7
Weighted-average remaining contractual life - outstanding	6 years 10 months 24 days
Weighted-average remaining contractual life - exercisable	6 years 7 months 6 days

Share-Based Compensation - Cash

Share-Based Compensation - Cash-settled Awards (Details) - Cash-settled Awards - USD ($) $ in Millions	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (up to)	4 years
Settlement payments for awards	$ 9	$ 5
Number of shares authorized (in shares)	9,262	16,194

Share-Based Compensation - Empl

Share-Based Compensation - Employee Stock Purchase Plan (Details) - 2020 Plan - Employee Stock - shares	1 Months Ended
	May 31, 2020	Jul. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price per share fair market value percentage	95.00%
Number of shares authorized (in shares)	1,500,000
Number of shares available for grant (in shares)		1,461,757

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Income Tax Disclosure [Abstract]
Effective tax rates	8.00%	2.90%	13.00%	8.30%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Jun. 27, 2020	Mar. 28, 2020	Jul. 03, 2021	Jun. 27, 2020
Basic:
Net income	$ 219	$ 228	$ 100	$ 89	$ 447	$ 189
Weighted-average shares outstanding (in shares)	53,449,143		53,188,486		53,460,495	53,533,116
Basic earnings per share (USD per share)	$ 4.10		$ 1.87		$ 8.36	$ 3.53
Diluted:
Net income	$ 219	$ 228	$ 100	$ 89	$ 447	$ 189
Weighted-average shares outstanding (in shares)	53,449,143		53,188,486		53,460,495	53,533,116
Dilutive shares (in shares)	459,152		487,244		469,608	522,208
Diluted weighted-average shares outstanding (in shares)	53,908,295		53,675,730		53,930,103	54,055,324
Diluted earnings per share (USD per share)	$ 4.07		$ 1.85		$ 8.29	$ 3.49
Anti-dilutive options to purchase common shares excluded from diluted earnings per share calculations (in shares)	0		108,950		0	89,091

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020
AOCI Attributable to Parent, Net of Tax
Beginning balance	$ 2,144	$ 1,839
Other comprehensive income (loss) before reclassifications	20	(1)
Amounts reclassified from AOCI	20	(14)
Tax effect	(9)	1
Other comprehensive loss, net of tax	31	(14)
Ending balance	2,589	1,803
Unrealized gain (loss) on sales hedging
AOCI Attributable to Parent, Net of Tax
Beginning balance	(28)	2
Other comprehensive income (loss) before reclassifications	23	7
Amounts reclassified from AOCI	20	(14)
Tax effect	(9)	1
Other comprehensive loss, net of tax	34	(6)
Ending balance	6	(4)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(41)	(46)
Other comprehensive income (loss) before reclassifications	(3)	(8)
Amounts reclassified from AOCI	0	0
Tax effect	0	0
Other comprehensive loss, net of tax	(3)	(8)
Ending balance	(44)	(54)
Total
AOCI Attributable to Parent, Net of Tax
Beginning balance	(69)	(44)
Ending balance	$ (38)	$ (58)

Accounts Receivable Factoring (

Accounts Receivable Factoring (Details)	1 Months Ended	6 Months Ended
	May 31, 2021agreement	Jul. 03, 2021USD ($)agreement	Jun. 27, 2020USD ($)	Dec. 31, 2020USD ($)	May 31, 2020EUR (€)
Transfer of Financial Assets Accounted for as Sales [Line Items]
Terminated agreements | agreement	1
Remaining active agreements | agreement		2
Maximum uncollected receivables available		$ 50,000,000			€ 150,000,000
Sale of account receivables		814,000,000	$ 508,000,000
Accounts receivables sold		45,000,000		$ 70,000,000
Cash collections not yet remitted to banks		140,000,000		142,000,000
Prepaid expenses and other current assets
Transfer of Financial Assets Accounted for as Sales [Line Items]
Deposits		$ 21,000,000		$ 24,000,000

Segment Information & Geograp_3

Segment Information & Geographic Data - Narratives (Details)	6 Months Ended
	Jul. 03, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information & Geograp_4

Segment Information & Geographic Data - Financial Information by Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Segment Reporting Information [Line Items]
Total Net sales	$ 1,377	$ 956	$ 2,724	$ 2,008
Total Operating income	247	119	519	270
Operating segments
Segment Reporting Information [Line Items]
Total Net sales	1,380	956	2,730	2,008
Total Operating income	280	141	582	318
Operating segments | AIT
Segment Reporting Information [Line Items]
Total Net sales	421	273	857	628
Total Operating income	97	52	206	134
Operating segments | EVM
Segment Reporting Information [Line Items]
Total Net sales	959	683	1,873	1,380
Total Operating income	183	89	376	184
Corporate, eliminations
Segment Reporting Information [Line Items]
Total Net sales	(3)	0	(6)	0
Total Operating income	$ (33)	$ (22)	$ (63)	$ (48)

Segment Information & Geograp_5

Segment Information & Geographic Data - Geographic Data for Net Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jun. 27, 2020	Jul. 03, 2021	Jun. 27, 2020
Segment Reporting Information [Line Items]
Total Net sales	$ 1,377	$ 956	$ 2,724	$ 2,008
North America
Segment Reporting Information [Line Items]
Total Net sales	707	502	1,380	1,021
EMEA
Segment Reporting Information [Line Items]
Total Net sales	464	306	954	694
Asia-Pacific
Segment Reporting Information [Line Items]
Total Net sales	137	110	257	207
Latin America
Segment Reporting Information [Line Items]
Total Net sales	$ 69	$ 38	$ 133	$ 86

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	Jul. 28, 2021USD ($)
Subsequent Event | Antuit Holdings Pte. Ltd, | Expected
Subsequent Event [Line Items]
Aggregate purchase consideration	$ 155