Zebra Technologies (ZBRA) 10-Q 2 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Oct. 02, 2021	Oct. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 2, 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		53,441,491
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000877212
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 02, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 307	$ 168
Accounts receivable, net of allowances for doubtful accounts of $1 million as of October 2, 2021 and December 31, 2020, respectively	613	508
Inventories, net	438	511
Current income taxes	72	16
Prepaid expenses and other current assets	94	70
Total Current assets	1,524	1,273
Property, plant and equipment, net	274	274
Right-of-use lease assets	130	135
Goodwill	3,194	2,988
Other intangibles, net	456	402
Deferred income taxes	106	139
Other long-term assets	181	164
Total Assets	5,865	5,375
Current liabilities:
Current portion of long-term debt	51	364
Accounts payable	609	601
Accrued liabilities	550	559
Deferred revenue	363	308
Income taxes payable	8	19
Total Current liabilities	1,581	1,851
Long-term debt	940	881
Long-term lease liabilities	120	129
Long-term deferred revenue	318	273
Other long-term liabilities	90	97
Total Liabilities	3,049	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	447	395
Treasury stock at cost, 18,697,788 and 18,689,775 shares as of October 2, 2021 and December 31, 2020, respectively	(986)	(919)
Retained earnings	3,382	2,736
Accumulated other comprehensive loss	(28)	(69)
Total Stockholders’ Equity	2,816	2,144
Total Liabilities and Stockholders’ Equity	$ 5,865	$ 5,375

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Oct. 02, 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)	18,697,788	18,689,775

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Net sales:
Total Net sales	$ 1,436	$ 1,132	$ 4,160	$ 3,140
Cost of sales:
Total Cost of sales	790	639	2,201	1,755
Gross profit	646	493	1,959	1,385
Operating expenses:
Selling and marketing	148	119	430	350
Research and development	141	113	422	316
General and administrative	85	71	259	219
Amortization of intangible assets	29	20	81	52
Acquisition and integration costs	6	19	11	21
Exit and restructuring costs	0	1	0	7
Total Operating expenses	409	343	1,203	965
Operating income	237	150	756	420
Other expenses:
Foreign exchange loss	(4)	(3)	(3)	(15)
Interest expense, net	(5)	(10)	(10)	(69)
Other (expense) income, net	0	1	(1)	8
Total Other expenses, net	(9)	(12)	(14)	(76)
Income before income tax	228	138	742	344
Income tax expense	29	22	96	39
Net income	$ 199	$ 116	$ 646	$ 305
Basic earnings per share (USD per share)	$ 3.72	$ 2.18	$ 12.08	$ 5.70
Diluted earnings per share (USD per share)	$ 3.69	$ 2.16	$ 11.98	$ 5.65
Tangible products
Net sales:
Total Net sales	$ 1,240	$ 972	$ 3,585	$ 2,684
Cost of sales:
Total Cost of sales	687	543	1,896	1,480
Services and software
Net sales:
Total Net sales	196	160	575	456
Cost of sales:
Total Cost of sales	$ 103	$ 96	$ 305	$ 275

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 199	$ 116	$ 646	$ 305
Other comprehensive income (loss), net of tax:
Changes in unrealized gains (losses) on anticipated sales hedging transactions	12	(8)	46	(14)
Foreign currency translation adjustment	(2)	4	(5)	(4)
Comprehensive income	$ 209	$ 112	$ 687	$ 287

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 forward interest rate swap hedging transactions	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	305
Changes in unrealized gains and losses on forward interest rate swap hedging transactions	(14)
Foreign currency translation adjustment	(4)
Ending balance (in shares) at Sep. 26, 2020		53,298,462
Ending balance at Sep. 26, 2020	1,931	$ 1	372	(917)	2,537	(62)
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 forward interest rate swap hedging transactions	(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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		(22,960)
Issuances of treasury shares related to share-based compensation plans, net of forfeitures	3		9	(6)
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(1,629)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	0			0
Share-based compensation	13		13
Net income	116				116
Changes in unrealized gains and losses on forward interest rate swap hedging transactions	(8)					(8)
Foreign currency translation adjustment	4					4
Ending balance (in shares) at Sep. 26, 2020		53,298,462
Ending balance at Sep. 26, 2020	1,931	$ 1	372	(917)	2,537	(62)
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 forward interest rate swap hedging transactions	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	646
Changes in unrealized gains and losses on forward interest rate swap hedging transactions	46
Foreign currency translation adjustment	(5)
Ending balance (in shares) at Oct. 02, 2021		53,454,069
Ending balance at Oct. 02, 2021	2,816	$ 1	447	(986)	3,382	(28)
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 forward interest rate swap hedging transactions	2					2
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		52,369
Issuances of treasury shares related to share-based compensation plans, net of forfeitures	(1)			(1)
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(1,593)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(1)			(1)
Share-based compensation	20		20
Net income	199				199
Changes in unrealized gains and losses on forward interest rate swap hedging transactions	12					12
Foreign currency translation adjustment	(2)					(2)
Ending balance (in shares) at Oct. 02, 2021		53,454,069
Ending balance at Oct. 02, 2021	$ 2,816	$ 1	$ 447	$ (986)	$ 3,382	$ (28)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
Cash flows from operating activities:
Net income	$ 646	$ 305
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	136	103
Share-based compensation	58	33
Deferred income taxes	(6)	(2)
Unrealized (gain) loss on forward interest rate swaps	(17)	37
Other, net	1	(3)
Changes in operating assets and liabilities:
Accounts receivable, net	(107)	96
Inventories, net	75	(7)
Other assets	(25)	3
Accounts payable	(2)	(7)
Accrued liabilities	42	(40)
Deferred revenue	101	58
Income taxes	(67)	(58)
Other operating activities	1	13
Net cash provided by operating activities	836	531
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired	(307)	(548)
Purchases of property, plant and equipment	(38)	(49)
Proceeds from sale of long-term investments	0	6
Purchases of long-term investments	(24)	(32)
Net cash used in investing activities	(369)	(623)
Cash flows from financing activities:
Payment of debt issuance costs and discounts	0	(1)
Payments of long-term debt	(277)	(103)
Proceeds from issuance of long-term debt	21	389
Payments for repurchases of common stock	(25)	(200)
Net payments related to share-based compensation plans	(48)	(28)
Change in unremitted cash collections from servicing factored receivables	(22)	73
Other financing activities	0	1
Net cash (used in) provided by in financing activities	(351)	131
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	0	(1)
Net increase in cash and cash equivalents, including restricted cash	116	38
Cash and cash equivalents, including restricted cash, at beginning of period	192	30
Cash and cash equivalents, including restricted cash, at end of period	308	68
Less restricted cash, included in Prepaid expenses and other current assets	(1)	(29)
Cash and cash equivalents at end of period	307	39
Supplemental disclosures of cash flow information:
Income taxes paid	169	100
Interest paid	$ 25	$ 28

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Oct. 02, 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 October 2, 2021, the Consolidated Statements of Operations, Comprehensive Income, and Stockholders’ Equity for the three and nine months ended October 2, 2021 and September 26, 2020, and the Consolidated Statements of Cash Flows for the nine months ended October 2, 2021 and September 26, 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, Retail Solutions, which provides a range of physical inventory management solutions with application in the retail industry, including solutions for full store physical inventories, cycle counts and analytics, 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 16, Segment Information & Geographic Data for additional information related to each segment’s results.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Oct. 02, 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 consolidated financial statements.

Revenues

Revenues	9 Months Ended
	Oct. 02, 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 nine months ended October 2, 2021 and September 26, 2020 (in millions): Three Months Ended October 2, 2021 September 26, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 358 $ 28 $ 386 $ 314 $ 25 $ 339 EVM 882 168 1,050 658 137 795 Corporate, eliminations (1) — — — — (2) (2) Total $ 1,240 $ 196 $ 1,436 $ 972 $ 160 $ 1,132 Nine Months Ended October 2, 2021 September 26, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 1,161 $ 82 $ 1,243 $ 898 $ 69 $ 967 EVM 2,424 499 2,923 1,786 389 2,175 Corporate, eliminations (1) — (6) (6) — (2) (2) Total $ 3,585 $ 575 $ 4,160 $ 2,684 $ 456 $ 3,140 (1) Amounts included in Corporate, eliminations consist of purchase accounting adjustments. In addition, refer to Note 16, 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 $1,019 million and $974 million, inclusive of deferred revenue, as of October 2, 2021 and December 31, 2020, respectively. On average, remaining performance obligations as of October 2, 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 $11 million and $10 million as of October 2, 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 nine months ended October 2, 2021 and September 26, 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 $681 million and $581 million as of October 2, 2021 and December 31, 2020, respectively. During the three and nine months ended October 2, 2021, the Company recognized $74 million and $259 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue as of December 31, 2020. During the three and nine months ended September 26, 2020, the Company recognized $47 million and $204 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue as of December 31, 2019.

Inventories

Inventories	9 Months Ended
	Oct. 02, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories The components of Inventories, net are as follows (in millions): October 2, December 31, Raw materials $ 144 $ 117 Work in process 3 4 Finished goods 291 390 Total Inventories, net $ 438 $ 511

Business Acquisitions

Business Acquisitions	9 Months Ended
	Oct. 02, 2021
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions	Business Acquisitions Fetch On August 9, 2021, the Company acquired Fetch Robotics, Inc. (“Fetch”), a provider of autonomous mobile robot solutions for customers who operate in the manufacturing and warehousing markets. Through its acquisition of Fetch, the Company intends to expand its automation solution offerings to customers in the manufacturing, distribution, and fulfillment industries. The acquisition was accounted for under the acquisition method of accounting for business combinations. The total purchase consideration was $301 million, which consisted of $290 million in cash paid, net of cash on-hand, and the fair value of the Company’s existing ownership interest in Fetch of $11 million, as remeasured upon acquisition. This remeasurement resulted in a $1 million gain reflected in Other (expense) income, net on the Consolidated Statements of Operations. The Company utilized estimated fair values as of August 9, 2021 to allocate the total purchase consideration to the identifiable assets acquired and liabilities assumed. The fair value of the net assets acquired was based on several estimates and assumptions, as well as customary valuation techniques, primarily the excess earnings method for technology and patent intangible assets. 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 primary fair value estimates still considered preliminary as of October 2, 2021 include intangible assets and income tax-related items. The preliminary purchase price allocation to assets acquired and liabilities assumed was as follows (in millions): Identifiable intangible assets $ 114 Right-of-use lease asset 11 Inventories 6 Other assets acquired 5 Deferred tax liabilities (27) Lease liability (11) Other liabilities assumed (4) Net assets acquired $ 94 Goodwill on acquisition 207 Total purchase price $ 301 The $207 million of goodwill, which is non-deductible for tax purposes, has been allocated to the EVM segment and principally relates to the planned geographic expansion and integration of Fetch into the Company’s manufacturing and warehouse automation offerings. The preliminary purchase price allocation to identifiable intangible assets acquired was as follows: Fair Value (in millions) Useful Life (in years) Technology and patents $ 100 7 Customer and other relationships 5 2 Trade names 9 5 Total identifiable intangible assets $ 114 In connection with the acquisition of Fetch, the Company granted share-based compensation awards, principally as replacement awards for unvested Fetch stock options, in the form of stock-settled restricted stock units (“stock-settled RSUs”). A total of 40,837 stock-settled RSUs were granted, each with a grant-date fair value of $563.98. The total fair value of approximately $23 million is attributable to service to be rendered subsequent to acquisition and will generally be expensed over a 3-year service period. The Company has not included unaudited pro forma results, as if Fetch had been acquired as of January 1, 2020, as doing so would not yield materially different results. 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 acquisition was accounted for under the acquisition method of accounting for business combinations. 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 eight years. 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. The Company has not included unaudited pro forma results, as if Adaptive Vision had been acquired as of January 1, 2020, as doing so would not yield materially different results. Reflexis During the third quarter of 2021, the Company finalized the purchase price allocation related to its September 1, 2020 acquisition of Reflexis Systems, Inc. (“Reflexis”). Before finalizing the purchase price allocation, during the second quarter of 2021, the Company recorded measurement period adjustments consisting of a $9 million increase to the trade name intangible assets and a $4 million increase to deferred tax liabilities. During the third quarter of 2021, the Company recorded its final measurement period adjustment consisting of a $2 million decrease to deferred tax liabilities. These adjustments, relating to facts and circumstances existing as of the acquisition date, resulted in a $7 million reduction of goodwill. During the second quarter of 2021, the Company also 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. Acquisition and integration costs We incurred approximately $6 million and $11 million of acquisition-related costs, primarily related to third-party transaction and advisory fees, during the three and nine months ended October 2, 2021, respectively, associated with our business acquisitions. These costs are included within Acquisition and integration costs on the Consolidated Statements of Operations.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
	Oct. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles 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 move to EVM segment, effective January 1, 2021 (59) 59 — Fetch acquisition — 207 207 Adaptive Vision acquisition — 7 7 Reflexis purchase price allocation adjustments — (7) (7) Reflexis purchase price reduction — (1) (1) Goodwill as of October 2, 2021 $ 169 $ 3,025 $ 3,194 Other Intangibles, net The balances in Other Intangibles, net consisted of the following (in millions): As of October 2, 2021 As of December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Technology and patents $ 851 $ (553) $ 298 $ 739 $ (527) $ 212 Customer and other relationships 624 (484) 140 620 (431) 189 Trade names 63 (45) 18 44 (43) 1 Total $ 1,538 $ (1,082) $ 456 $ 1,403 $ (1,001) $ 402 During the three months ended October 2, 2021 and September 26, 2020, the Company recognized amortization expense of $29 million and $20 million, respectively. During the nine months ended October 2, 2021 and September 26, 2020, the Company recognized amortization expense of $81 million and $52 million, respectively. As of October 2, 2021, estimated future intangible asset amortization expense is as follows (in millions): 2021 (remaining 3 months) $ 31 2022 110 2023 64 2024 62 2025 62 Thereafter 127 Total $ 456 See Note 5, Business Acquisitions for further details related to the Company’s acquisitions and purchase price allocation adjustments.

Investments

Investments	9 Months Ended
	Oct. 02, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The carrying value of the Company’s venture investments was $91 million and $77 million as of October 2, 2021 and December 31, 2020, respectively, which are included in Other long-term assets on the Consolidated Balance Sheets. During the three and nine months ended October 2, 2021, the Company paid $7 million and $24 million for the purchases of new long-term investments, respectively. Comparatively, during the nine months ended September 26, 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 02, 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 October 2, 2021, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ — $ 22 $ — $ 22 Money market investments related to deferred compensation plan 35 — — 35 Total Assets at fair value $ 35 $ 22 $ — $ 57 Liabilities: Foreign exchange contracts (1) $ 1 $ — $ — $ 1 Forward interest rate swap contracts (2) — 29 — 29 Liabilities related to the deferred compensation plan 35 — — 35 Total Liabilities at fair value $ 36 $ 29 $ — $ 65 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	9 Months Ended
	Oct. 02, 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 October 2, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 22 $ — Foreign exchange contracts Accrued liabilities — (34) Total derivative instruments designated as hedges $ 22 $ (34) Derivative instruments not designated as hedges: Foreign exchange contracts Accrued liabilities $ (1) $ (3) Forward interest rate swaps Accrued liabilities (17) (17) Forward interest rate swaps Other long-term liabilities (12) (29) Total derivative instruments not designated as hedges $ (30) $ (49) Total net derivative liability $ (8) $ (83) The following table presents the net gains (losses) from changes in fair values of derivatives that are not designated as hedges (in millions): Gains (Losses) Recognized in Income Three Months Ended Nine Months Ended Statements of Operations Classification October 2, September 26, October 2, September 26, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange loss $ 1 $ (1) $ 1 $ (9) Forward interest rate swaps Interest expense, net (1) (4) 4 (46) Total gains (losses) recognized in income $ — $ (5) $ 5 $ (55) 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 unchanged as of October 2, 2021 and 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 $5 million of gains and $8 million of losses for the three months ended October 2, 2021 and September 26, 2020, respectively. Realized amounts reclassified to Net sales were $15 million of losses and $6 million of gains for the nine months ended October 2, 2021 and September 26, 2020, respectively. As of October 2, 2021 and December 31, 2020, the notional amounts of the Company’s foreign exchange cash flow hedges were €637 million and €585 million, respectively. The Company has reviewed its cash flow hedges for effectiveness and determined that they are highly effective. The Company uses forward contracts, which are not designated as hedging instruments, to manage its exposures related to net assets denominated in foreign currencies. These forward contracts typically mature within one month after execution. Monetary gains and losses on these forward contracts are recorded in income and are generally offset by the transaction gains and losses related to their net asset positions. The notional values and the net fair value of these outstanding contracts are as follows (in millions): October 2, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 2 £ 10 Euro/U.S. Dollar € 91 € 123 Euro/Czech Koruna € 17 € — Japanese Yen/U.S. Dollar ¥ — ¥ 354 Singapore Dollar/U.S. Dollar S$ 15 S$ 12 Mexican Peso/U.S. Dollar Mex$ 85 Mex$ 36 Polish Zloty/U.S. Dollar zł 96 zł — Net fair value of liabilities of outstanding contracts $ 1 $ 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. In December 2017, the Company entered into a long-term forward interest rate swap agreement with a notional amount of $800 million to lock into a fixed LIBOR interest rate base for its debt facilities subject to monthly interest payments. Under the terms of the agreement, $800 million in variable-rate debt will be swapped for a fixed interest rate with net settlement terms starting in December 2018 and ending in December 2022. During the third quarter of 2019, the Company entered into additional long-term forward interest rate swap agreements with a total notional amount of $800 million, containing net settlement terms, which start in December 2022 and end in August 2024. The additional interest rate swap agreements effectively extend the risk management initiative of the Company to coincide with the maturities of Term Loan A and the Revolving Credit Facility. These interest rate swaps are not designated as hedges and changes in fair value are recognized immediately as Interest expense, net on the Consolidated Statements of Operations.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 02, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table shows the carrying value of the Company’s debt (in millions): October 2, 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 (51) (364) Total long-term debt $ 940 $ 881 As of October 2, 2021, the future maturities of debt are as follows (in millions): 2021 $ — 2022 70 2023 81 2024 845 Total future debt maturities $ 996 All borrowings as of October 2, 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 October 2, 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 October 2, 2021, the Term Loan A interest rate was 1.33%. 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. As of October 2, 2021, the Company’s Consolidated Balance Sheets included $605 million of receivables that were pledged under the two Receivables Financing Facilities. As of October 2, 2021, $108 million had been borrowed, of which $13 million was classified as current. Borrowings under the Receivables Financing Facilities bear interest at a variable rate plus an applicable margin. As of October 2, 2021, the Receivables Financing Facilities had an average interest rate of 0.96%. 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 October 2, 2021, the Company had letters of credit totaling $7 million, which reduced funds available for borrowings under the Revolving Credit Facility from $1 billion to $993 million. No borrowings were outstanding under the Revolving Credit Facility as of October 2, 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 had also entered into an uncommitted short-term credit facility (“Uncommitted Facility”) in August 2020 allowing for borrowings of up to $20 million. The Uncommitted Facility matured on August 26, 2021 and was not utilized by the Company. 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 October 2, 2021, the Company was in compliance with all debt covenants.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 02, 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): Nine Months Ended October 2, September 26, Balance at the beginning of the period $ 24 $ 21 Warranty expense 25 22 Warranties fulfilled (23) (20) Balance at the end of the period $ 26 $ 23 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.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three and nine months ended October 2, 2021 was 12.7% and 12.9%, respectively, compared to 15.9% and 11.3%, respectively, for the comparable periods ended September 26, 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. In addition, the three and nine months ended October 2, 2021 include the benefit of a foreign-derived intangible income deduction in the U.S. The nine month period ended October 2, 2021 also 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 nine months ended October 2, 2021. The Company is currently undergoing U.S. federal income tax audits for tax years 2017 and 2018.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 02, 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 share-based compensation awards were converted into common shares during the period. Earnings per share (in millions, except share data): Three Months Ended Nine Months Ended October 2, September 26, October 2, September 26, Basic: Net income $ 199 $ 116 $ 646 $ 305 Weighted-average shares outstanding 53,418,055 53,300,036 53,449,239 53,460,891 Basic earnings per share $ 3.72 $ 2.18 $ 12.08 $ 5.70 Diluted: Net income $ 199 $ 116 $ 646 $ 305 Weighted-average shares outstanding 53,418,055 53,300,036 53,449,239 53,460,891 Dilutive shares 448,504 416,270 462,574 486,895 Diluted weighted-average shares outstanding 53,866,559 53,716,306 53,911,813 53,947,786 Diluted earnings per share $ 3.69 $ 2.16 $ 11.98 $ 5.65 Anti-dilutive share-based compensation awards are excluded from diluted earnings per share calculations. There were 25,355 and 8,391 shares that were anti-dilutive for the three and nine months ended October 2, 2021. There were 74,588 and 105,219 shares that were anti-dilutive for the three and nine months ended September 26, 2020, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Oct. 02, 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 nine months ended October 2, 2021 and September 26, 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 (11) (4) (15) Amounts reclassified from AOCI (1) (6) — (6) Tax effect 3 — 3 Other comprehensive loss, net of tax (14) (4) (18) Balance at September 26, 2020 $ (12) $ (50) $ (62) Balance at December 31, 2020 $ (28) $ (41) $ (69) Other comprehensive income (loss) before reclassifications 41 (5) 36 Amounts reclassified from AOCI (1) 15 — 15 Tax effect (10) — (10) Other comprehensive income (loss), net of tax 46 (5) 41 Balance at October 2, 2021 $ 18 $ (46) $ (28) (1) See Note 9, Derivative Instruments

Accounts Receivable Factoring

Accounts Receivable Factoring	9 Months Ended
	Oct. 02, 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) provided by financing activities on the Consolidated Statements of Cash Flows. During the second quarter of 2021, one of the Company’s Receivables Factoring arrangements that was no longer actively utilized expired. The Company currently 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 $1 million and $24 million as of October 2, 2021 and December 31, 2020, respectively, and is classified within Prepaid expenses and other current assets on the Consolidated Balance Sheets. During the nine months ended October 2, 2021 and September 26, 2020, the Company received cash proceeds of $1,161 million and $857 million, respectively, from the sales of accounts receivables under its factoring arrangements. As of October 2, 2021 and December 31, 2020, there were a total of $23 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 $120 million and $142 million of obligations that were not yet remitted to banks as of October 2, 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) provided by financing activities on the Consolidated Statements of Cash Flows. Fees incurred in connection with these arrangements were not significant.

Segment Information & Geographi

Segment Information & Geographic Data	9 Months Ended
	Oct. 02, 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, Retail Solutions 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 Nine Months Ended October 2, September 26, October 2, September 26, Net sales: AIT $ 386 $ 339 $ 1,243 $ 967 EVM 1,050 795 2,923 2,175 Total segment Net sales 1,436 1,134 4,166 3,142 Corporate, eliminations (1) — (2) (6) (2) Total Net sales $ 1,436 $ 1,132 $ 4,160 $ 3,140 Operating income: AIT (2) $ 77 $ 78 $ 283 $ 212 EVM (2) 195 121 571 305 Total segment operating income 272 199 854 517 Corporate, eliminations (1) (35) (49) (98) (97) Total Operating income $ 237 $ 150 $ 756 $ 420 (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 Nine Months Ended October 2, September 26, October 2, September 26, North America $ 728 $ 629 $ 2,108 $ 1,650 EMEA 504 340 1,458 1,034 Asia-Pacific 135 115 392 322 Latin America 69 48 202 134 Total Net sales $ 1,436 $ 1,132 $ 4,160 $ 3,140

Subsequent Event

Subsequent Event	9 Months Ended
	Oct. 02, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn October 7, 2021, the Company acquired Antuit Holdings Pte. Ltd. (“Antuit”), a provider of demand-sensing and pricing optimization software solutions for retail and consumer products companies. The purchase consideration was approximately $145 million, net of cash acquired, which was funded with cash on hand. The acquired business will become part of the EVM segment.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 02, 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 consolidated financial statements.
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 $11 million and $10 million as of October 2, 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 nine months ended October 2, 2021 and September 26, 2020.
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)	9 Months Ended
	Oct. 02, 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 nine months ended October 2, 2021 and September 26, 2020 (in millions): Three Months Ended October 2, 2021 September 26, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 358 $ 28 $ 386 $ 314 $ 25 $ 339 EVM 882 168 1,050 658 137 795 Corporate, eliminations (1) — — — — (2) (2) Total $ 1,240 $ 196 $ 1,436 $ 972 $ 160 $ 1,132 Nine Months Ended October 2, 2021 September 26, 2020 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 1,161 $ 82 $ 1,243 $ 898 $ 69 $ 967 EVM 2,424 499 2,923 1,786 389 2,175 Corporate, eliminations (1) — (6) (6) — (2) (2) Total $ 3,585 $ 575 $ 4,160 $ 2,684 $ 456 $ 3,140 (1) Amounts included in Corporate, eliminations consist of purchase accounting adjustments.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 02, 2021
Inventory Disclosure [Abstract]
Schedule of Components of Inventories, Net	The components of Inventories, net are as follows (in millions): October 2, December 31, Raw materials $ 144 $ 117 Work in process 3 4 Finished goods 291 390 Total Inventories, net $ 438 $ 511

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Tables)	9 Months Ended
	Oct. 02, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary and Final Purchase Price Allocation to Assets Acquired and Liabilities Assumed	The preliminary purchase price allocation to assets acquired and liabilities assumed was as follows (in millions): Identifiable intangible assets $ 114 Right-of-use lease asset 11 Inventories 6 Other assets acquired 5 Deferred tax liabilities (27) Lease liability (11) Other liabilities assumed (4) Net assets acquired $ 94 Goodwill on acquisition 207 Total purchase price $ 301
Schedule of Preliminary Purchase Price Allocation to Identifiable Intangible Assets Acquired	The preliminary purchase price allocation to identifiable intangible assets acquired was as follows: Fair Value (in millions) Useful Life (in years) Technology and patents $ 100 7 Customer and other relationships 5 2 Trade names 9 5 Total identifiable intangible assets $ 114

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
	Oct. 02, 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 move to EVM segment, effective January 1, 2021 (59) 59 — Fetch acquisition — 207 207 Adaptive Vision acquisition — 7 7 Reflexis purchase price allocation adjustments — (7) (7) Reflexis purchase price reduction — (1) (1) Goodwill as of October 2, 2021 $ 169 $ 3,025 $ 3,194
Schedule of Finite-Lived Intangible Assets	The balances in Other Intangibles, net consisted of the following (in millions): As of October 2, 2021 As of December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Technology and patents $ 851 $ (553) $ 298 $ 739 $ (527) $ 212 Customer and other relationships 624 (484) 140 620 (431) 189 Trade names 63 (45) 18 44 (43) 1 Total $ 1,538 $ (1,082) $ 456 $ 1,403 $ (1,001) $ 402
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of October 2, 2021, estimated future intangible asset amortization expense is as follows (in millions): 2021 (remaining 3 months) $ 31 2022 110 2023 64 2024 62 2025 62 Thereafter 127 Total $ 456

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 02, 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 October 2, 2021, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ — $ 22 $ — $ 22 Money market investments related to deferred compensation plan 35 — — 35 Total Assets at fair value $ 35 $ 22 $ — $ 57 Liabilities: Foreign exchange contracts (1) $ 1 $ — $ — $ 1 Forward interest rate swap contracts (2) — 29 — 29 Liabilities related to the deferred compensation plan 35 — — 35 Total Liabilities at fair value $ 36 $ 29 $ — $ 65 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)	9 Months Ended
	Oct. 02, 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 October 2, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 22 $ — Foreign exchange contracts Accrued liabilities — (34) Total derivative instruments designated as hedges $ 22 $ (34) Derivative instruments not designated as hedges: Foreign exchange contracts Accrued liabilities $ (1) $ (3) Forward interest rate swaps Accrued liabilities (17) (17) Forward interest rate swaps Other long-term liabilities (12) (29) Total derivative instruments not designated as hedges $ (30) $ (49) Total net derivative liability $ (8) $ (83)
Schedule of Gains (Losses) Recognized in Income	The following table presents the net gains (losses) from changes in fair values of derivatives that are not designated as hedges (in millions): Gains (Losses) Recognized in Income Three Months Ended Nine Months Ended Statements of Operations Classification October 2, September 26, October 2, September 26, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange loss $ 1 $ (1) $ 1 $ (9) Forward interest rate swaps Interest expense, net (1) (4) 4 (46) Total gains (losses) recognized in income $ — $ (5) $ 5 $ (55)
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): October 2, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 2 £ 10 Euro/U.S. Dollar € 91 € 123 Euro/Czech Koruna € 17 € — Japanese Yen/U.S. Dollar ¥ — ¥ 354 Singapore Dollar/U.S. Dollar S$ 15 S$ 12 Mexican Peso/U.S. Dollar Mex$ 85 Mex$ 36 Polish Zloty/U.S. Dollar zł 96 zł — Net fair value of liabilities of outstanding contracts $ 1 $ 3

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Oct. 02, 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): October 2, 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 (51) (364) Total long-term debt $ 940 $ 881
Schedule of Future Maturities of Long-term Debt	As of October 2, 2021, the future maturities of debt are as follows (in millions): 2021 $ — 2022 70 2023 81 2024 845 Total future debt maturities $ 996

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Oct. 02, 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): Nine Months Ended October 2, September 26, Balance at the beginning of the period $ 24 $ 21 Warranty expense 25 22 Warranties fulfilled (23) (20) Balance at the end of the period $ 26 $ 23

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 02, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Earnings per Share	Earnings per share (in millions, except share data): Three Months Ended Nine Months Ended October 2, September 26, October 2, September 26, Basic: Net income $ 199 $ 116 $ 646 $ 305 Weighted-average shares outstanding 53,418,055 53,300,036 53,449,239 53,460,891 Basic earnings per share $ 3.72 $ 2.18 $ 12.08 $ 5.70 Diluted: Net income $ 199 $ 116 $ 646 $ 305 Weighted-average shares outstanding 53,418,055 53,300,036 53,449,239 53,460,891 Dilutive shares 448,504 416,270 462,574 486,895 Diluted weighted-average shares outstanding 53,866,559 53,716,306 53,911,813 53,947,786 Diluted earnings per share $ 3.69 $ 2.16 $ 11.98 $ 5.65

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Oct. 02, 2021
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss (AOCI)	The components of AOCI for the nine months ended October 2, 2021 and September 26, 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 (11) (4) (15) Amounts reclassified from AOCI (1) (6) — (6) Tax effect 3 — 3 Other comprehensive loss, net of tax (14) (4) (18) Balance at September 26, 2020 $ (12) $ (50) $ (62) Balance at December 31, 2020 $ (28) $ (41) $ (69) Other comprehensive income (loss) before reclassifications 41 (5) 36 Amounts reclassified from AOCI (1) 15 — 15 Tax effect (10) — (10) Other comprehensive income (loss), net of tax 46 (5) 41 Balance at October 2, 2021 $ 18 $ (46) $ (28) (1) See Note 9, Derivative Instruments

Segment Information & Geograp_2

Segment Information & Geographic Data (Tables)	9 Months Ended
	Oct. 02, 2021
Segment Reporting [Abstract]
Schedule of Financial Information by Segments	Financial information by segment is presented as follows (in millions): Three Months Ended Nine Months Ended October 2, September 26, October 2, September 26, Net sales: AIT $ 386 $ 339 $ 1,243 $ 967 EVM 1,050 795 2,923 2,175 Total segment Net sales 1,436 1,134 4,166 3,142 Corporate, eliminations (1) — (2) (6) (2) Total Net sales $ 1,436 $ 1,132 $ 4,160 $ 3,140 Operating income: AIT (2) $ 77 $ 78 $ 283 $ 212 EVM (2) 195 121 571 305 Total segment operating income 272 199 854 517 Corporate, eliminations (1) (35) (49) (98) (97) Total Operating income $ 237 $ 150 $ 756 $ 420 (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 Nine Months Ended October 2, September 26, October 2, September 26, North America $ 728 $ 629 $ 2,108 $ 1,650 EMEA 504 340 1,458 1,034 Asia-Pacific 135 115 392 322 Latin America 69 48 202 134 Total Net sales $ 1,436 $ 1,132 $ 4,160 $ 3,140

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue By Product Category And Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Disaggregation of Revenue [Line Items]
Total Net sales	$ 1,436	$ 1,132	$ 4,160	$ 3,140
Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	1,240	972	3,585	2,684
Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	196	160	575	456
Operating segments
Disaggregation of Revenue [Line Items]
Total Net sales	1,436	1,134	4,166	3,142
Operating segments | AIT
Disaggregation of Revenue [Line Items]
Total Net sales	386	339	1,243	967
Operating segments | AIT | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	358	314	1,161	898
Operating segments | AIT | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	28	25	82	69
Operating segments | EVM
Disaggregation of Revenue [Line Items]
Total Net sales	1,050	795	2,923	2,175
Operating segments | EVM | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	882	658	2,424	1,786
Operating segments | EVM | Services and Software
Disaggregation of Revenue [Line Items]
Total Net sales	168	137	499	389
Corporate, eliminations
Disaggregation of Revenue [Line Items]
Total Net sales	0	(2)	(6)	(2)
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	$ 0	$ (2)	$ (6)	$ (2)

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligation (Details) - USD ($) $ in Millions	Oct. 02, 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]: 2021-10-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,019
Remaining performance obligation, expected recognition period	2 years

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 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	681,000,000		681,000,000		$ 581,000,000
Revenue recognized that was included in contract liability	74,000,000	$ 47,000,000	259,000,000	$ 204,000,000
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	$ 11,000,000		$ 11,000,000		$ 10,000,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Oct. 02, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 144	$ 117
Work in process	3	4
Finished goods	291	390
Total Inventories, net	$ 438	$ 511

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 09, 2021	May 17, 2021	Oct. 02, 2021	Jul. 03, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Cash purchase consideration, net of cash acquired						$ 307	$ 548
Goodwill			$ 3,194			3,194		$ 2,988
Acquisition and integration costs			6		$ 19	11	$ 21
Fetch
Business Acquisition [Line Items]
Total purchase price	$ 301
Cash purchase consideration, net of cash acquired	290
Existing ownership in acquiree remeasured upon acquisition	11
Ownership interest remeasurement gain	$ 1
Granted (in shares)	40,837
Granted (in USD per share)	$ 563.98
Fair value of options granted	$ 23
Future service period	3 years
Cash purchase consideration net of cash on-hand	$ 114
Goodwill	207
Fetch | Technology and patents
Business Acquisition [Line Items]
Cash purchase consideration net of cash on-hand	100
Fetch | Trade names
Business Acquisition [Line Items]
Cash purchase consideration net of cash on-hand	$ 9
Adaptive Vision
Business Acquisition [Line Items]
Cash purchase consideration, net of cash acquired		$ 18
Goodwill		7
Adaptive Vision | Technology and patents
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			2	$ 4
Decrease to goodwill						$ 1
Decrease in goodwill			$ 7
Reduction in purchase price				1
Reflexis | Trade names
Business Acquisition [Line Items]
Measurement period adjustments				$ (9)

Business Acquisitions - Prelimi

Business Acquisitions - Preliminary Purchase Price Allocation To Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Millions	Oct. 02, 2021	Aug. 09, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 3,194		$ 2,988
Fetch
Business Acquisition [Line Items]
Identifiable intangible assets		$ 114
Right-of-use lease asset		11
Inventories		6
Other assets acquired		5
Deferred tax liabilities		(27)
Lease liability		(11)
Other liabilities assumed		(4)
Net assets acquired		94
Goodwill		207
Total purchase price		$ 301

Business Acquisitions - Preli_2

Business Acquisitions - Preliminary Purchase Price Allocation To Identifiable Intangible Assets (Details) - Fetch $ in Millions	Aug. 09, 2021USD ($)
Asset Acquisition [Line Items]
Intangible assets acquired	$ 114
Technology and patents
Asset Acquisition [Line Items]
Intangible assets acquired	$ 100
Useful Life (in years)	7 years
Customer and other relationships
Asset Acquisition [Line Items]
Intangible assets acquired	$ 5
Useful Life (in years)	2 years
Trade names
Asset Acquisition [Line Items]
Intangible assets acquired	$ 9
Useful Life (in years)	5 years

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Net Carrying Value of Goodwill (Detail) $ in Millions	9 Months Ended
	Oct. 02, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 2,988
Retail Solutions move to EVM segment, effective January 1, 2021	0
Ending balance	3,194
Fetch
Goodwill [Roll Forward]
Goodwill on acquisition	207
Adaptive Vision acquisition
Goodwill [Roll Forward]
Goodwill on acquisition	7
Reflexis
Goodwill [Roll Forward]
Reflexis purchase price allocation adjustments	(7)
Reflexis purchase price reduction	(1)
AIT
Goodwill [Roll Forward]
Beginning balance	228
Retail Solutions move to EVM segment, effective January 1, 2021	(59)
Ending balance	169
AIT | Fetch
Goodwill [Roll Forward]
Goodwill on acquisition	0
AIT | Adaptive Vision acquisition
Goodwill [Roll Forward]
Goodwill on 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 move to EVM segment, effective January 1, 2021	59
Ending balance	3,025
EVM | Fetch
Goodwill [Roll Forward]
Goodwill on acquisition	207
EVM | Adaptive Vision acquisition
Goodwill [Roll Forward]
Goodwill on acquisition	7
EVM | Reflexis
Goodwill [Roll Forward]
Reflexis purchase price allocation adjustments	(7)
Reflexis purchase price reduction	$ (1)

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Amortized Intangible Assets (Detail) - USD ($) $ in Millions	Oct. 02, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,538	$ 1,403
Accumulated Amortization	(1,082)	(1,001)
Net	456	402
Technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	851	739
Accumulated Amortization	(553)	(527)
Net	298	212
Customer and other relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	624	620
Accumulated Amortization	(484)	(431)
Net	140	189
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	63	44
Accumulated Amortization	(45)	(43)
Net	$ 18	$ 1

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 29	$ 20	$ 81	$ 52

Goodwill and Other Intangible_5

Goodwill and Other Intangibles - Estimated Amortization Expense for Future Periods (Detail) $ in Millions	Oct. 02, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021 (remaining 3 months)	$ 31
2022	110
2023	64
2024	62
2025	62
Thereafter	127
Total	$ 456

Investments (Details)

Investments (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Jun. 27, 2020	Oct. 02, 2021	Sep. 26, 2020	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Equity securities held	$ 91			$ 91		$ 77
Purchases of long-term investments	7			24	$ 32
Debt and equity securities, unrealized gain			$ 7
Gain on investments	$ 1	$ 1		$ 1	$ 8

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	Oct. 02, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Assets at fair value	$ 57	$ 30
Liabilities related to the deferred compensation plan	35	30
Total Liabilities at fair value	65	113
Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	22
Derivative liabilities	1	37
Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	29	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	35	30
Liabilities related to the deferred compensation plan	35	30
Total Liabilities at fair value	36	33
Level 1 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0
Derivative liabilities	1	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	22	0
Liabilities related to the deferred compensation plan	0	0
Total Liabilities at fair value	29	80
Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	22
Derivative liabilities	0	34
Level 2 | Forward interest rate swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	29	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 assets	0
Derivative liabilities	0	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	Oct. 02, 2021	Dec. 31, 2020
Derivative [Line Items]
Total net derivative liability	$ (8)	$ (83)
Derivative instruments designated as hedges
Derivative [Line Items]
Total net derivative liability	22	(34)
Derivative instruments designated as hedges | Foreign exchange contracts | Prepaid expenses and other current assets
Derivative [Line Items]
Total Assets at fair value	22	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	(30)	(49)
Derivative instruments not designated as hedges | Foreign exchange contracts | Accrued liabilities
Derivative [Line Items]
Total Liabilities at fair value	(1)	(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	$ (12)	$ (29)

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Gain (Losses) Recognized in Income (Details) - Derivative instruments not designated as hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in income	$ 0	$ (5)	$ 5	$ (55)
Foreign exchange contracts | Foreign exchange loss
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in income	1	(1)	1	(9)
Forward interest rate swaps | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized in income	$ (1)	$ (4)	$ 4	$ (46)

Derivative Instruments - Narrat

Derivative Instruments - Narratives (Details) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021USD ($)	Sep. 26, 2020USD ($)	Oct. 02, 2021USD ($)	Sep. 26, 2020USD ($)	Oct. 02, 2021EUR (€)	Dec. 31, 2020EUR (€)	Sep. 28, 2019USD ($)	Dec. 31, 2017USD ($)
Derivative instruments not designated as hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Realized gains (losses)	$ 0	$ (5)	$ 5	$ (55)
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 | €					€ 637	€ 585
Foreign exchange forward | Derivative instruments designated as hedges | Cash flow hedges | Net sales
Change in unrealized gain (loss) on anticipated sales hedging:
Realized gains (losses)	$ 5	$ (8)	$ (15)	$ 6
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) € in Millions, ¥ in Millions, £ in Millions, zł in Millions, $ in Millions, $ in Millions, $ in Millions

Oct. 02, 2021GBP (£)

Oct. 02, 2021EUR (€)

Oct. 02, 2021JPY (¥)

Oct. 02, 2021SGD ($)

Oct. 02, 2021MXN ($)

Oct. 02, 2021PLN (zł)

Oct. 02, 2021USD ($)

Dec. 31, 2020GBP (£)

Dec. 31, 2020EUR (€)

Dec. 31, 2020JPY (¥)

Dec. 31, 2020SGD ($)

Dec. 31, 2020MXN ($)

Dec. 31, 2020PLN (zł)

Dec. 31, 2020USD ($)

Foreign exchange forward

Derivative [Line Items]

Notional balance of outstanding contracts

£ 2

¥ 0

$ 15

$ 85

zł 96

£ 10

¥ 354

$ 12

$ 36

zł 0

Net fair value of liabilities of outstanding contracts | $

$ 1

$ 3

Euro/U.S. Dollar

Derivative [Line Items]

Notional balance of outstanding contracts

€ 91

€ 123

Euro/Czech Koruna

Derivative [Line Items]

Notional balance of outstanding contracts

€ 17

€ 0

Long-Term Debt - Summary of Car

Long-Term Debt - Summary of Carrying Value of Debt (Details) - USD ($) $ in Millions	Oct. 02, 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	(51)	(364)
Long-term debt	940	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	Oct. 02, 2021USD ($)
Debt Disclosure [Abstract]
2021	$ 0
2022	70
2023	81
2024	845
Total future debt maturities	$ 996

Long-Term Debt - Narratives (De

Long-Term Debt - Narratives (Details) - USD ($) $ in Billions	Oct. 02, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Estimated fair value debt	$ 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	Oct. 02, 2021	Sep. 30, 2020
Term Loan A
Debt Instrument [Line Items]
Percentage bearing variable interest, percentage rate			1.33%
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	Oct. 02, 2021USD ($)facility
Receivables Financing Facilities
Line of Credit Facility [Line Items]
Number of receivable financing facilities | facility	2
Revolving credit facility maximum borrowing capacity	$ 280,000,000
Accounts receivable pledged	605,000,000
Outstanding borrowings	108,000,000
Outstanding borrowings, current	$ 13,000,000
Average interest rate	0.96%
Receivables Financing Facility, Amended March 2021
Line of Credit Facility [Line Items]
Revolving credit facility maximum borrowing capacity	$ 180,000,000
Receivables Financing Facility, Amended May 2021
Line of Credit Facility [Line Items]
Revolving credit facility maximum borrowing capacity	$ 100,000,000

Long-Term Debt - Revolving Cred

Long-Term Debt - Revolving Credit Facility (Details) - Revolving Credit Facility	Oct. 02, 2021USD ($)
Line of Credit Facility [Line Items]
Letters of credit	$ 7,000,000
Maximum borrowing capacity	1,000,000,000
Funds available for other borrowing	993,000,000
Outstanding borrowings	$ 0

Long-Term Debt - Uncommitted Sh

Long-Term Debt - Uncommitted Short-Term Credit Facility (Details)	Aug. 31, 2020USD ($)
Uncommitted Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 20,000,000

Commitments and Contingencies -

Commitments and Contingencies -Summary of Accrued Warranty Obligation (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 24	$ 21
Warranty expense	25	22
Warranties fulfilled	(23)	(20)
Balance at the end of the period	$ 26	$ 23

Commitments and Contingencies_2

Commitments and Contingencies - Narratives (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Dec. 31, 2020	Oct. 02, 2021
Loss Contingencies [Line Items]
Recovered, import duties paid previously	$ 0	$ 12,000,000	$ 16,000,000
AIT
Loss Contingencies [Line Items]
Recovered, import duties paid previously		4,000,000	9,000,000
EVM
Loss Contingencies [Line Items]
Recovered, import duties paid previously		$ 8,000,000	$ 7,000,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Income Tax Disclosure [Abstract]
Effective tax rates	12.70%	15.90%	12.90%	11.30%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Oct. 02, 2021	Sep. 26, 2020
Basic:
Net income	$ 199	$ 219	$ 228	$ 116	$ 100	$ 89	$ 646	$ 305
Weighted-average shares outstanding (in shares)	53,418,055			53,300,036			53,449,239	53,460,891
Basic earnings per share (USD per share)	$ 3.72			$ 2.18			$ 12.08	$ 5.70
Diluted:
Net income	$ 199	$ 219	$ 228	$ 116	$ 100	$ 89	$ 646	$ 305
Weighted-average shares outstanding (in shares)	53,418,055			53,300,036			53,449,239	53,460,891
Dilutive shares (in shares)	448,504			416,270			462,574	486,895
Diluted weighted-average shares outstanding (in shares)	53,866,559			53,716,306			53,911,813	53,947,786
Diluted earnings per share (USD per share)	$ 3.69			$ 2.16			$ 11.98	$ 5.65
Anti-dilutive options to purchase common shares excluded from diluted earnings per share calculations (in shares)	25,355			74,588			8,391	105,219

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
AOCI Attributable to Parent, Net of Tax
Beginning balance	$ 2,144	$ 1,839
Other comprehensive income (loss) before reclassifications	36	(15)
Amounts reclassified from AOCI	15	(6)
Tax effect	(10)	3
Other comprehensive loss, net of tax	41	(18)
Ending balance	2,816	1,931
Unrealized gain (loss) on sales hedging
AOCI Attributable to Parent, Net of Tax
Beginning balance	(28)	2
Other comprehensive income (loss) before reclassifications	41	(11)
Amounts reclassified from AOCI	15	(6)
Tax effect	(10)	3
Other comprehensive loss, net of tax	46	(14)
Ending balance	18	(12)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(41)	(46)
Other comprehensive income (loss) before reclassifications	(5)	(4)
Amounts reclassified from AOCI	0	0
Tax effect	0	0
Other comprehensive loss, net of tax	(5)	(4)
Ending balance	(46)	(50)
Total
AOCI Attributable to Parent, Net of Tax
Beginning balance	(69)	(44)
Ending balance	$ (28)	$ (62)

Accounts Receivable Factoring (

Accounts Receivable Factoring (Details)	3 Months Ended	9 Months Ended
	Jul. 03, 2021agreement	Oct. 02, 2021USD ($)agreement	Sep. 26, 2020USD ($)	Oct. 02, 2021EUR (€)agreement	Dec. 31, 2020USD ($)
Transfer of Financial Assets Accounted for as Sales [Line Items]
Terminated agreements | agreement	1
Remaining active agreements | agreement		2		2
Maximum uncollected receivables available		$ 50,000,000		€ 150,000,000
Sale of account receivables		1,161,000,000	$ 857,000,000
Accounts receivables sold		23,000,000			$ 70,000,000
Cash collections not yet remitted to banks		120,000,000			142,000,000
Prepaid expenses and other current assets
Transfer of Financial Assets Accounted for as Sales [Line Items]
Deposits		$ 1,000,000			$ 24,000,000

Segment Information & Geograp_3

Segment Information & Geographic Data - Narratives (Details)	9 Months Ended
	Oct. 02, 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		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Segment Reporting Information [Line Items]
Total Net sales	$ 1,436	$ 1,132	$ 4,160	$ 3,140
Total Operating income	237	150	756	420
Operating segments
Segment Reporting Information [Line Items]
Total Net sales	1,436	1,134	4,166	3,142
Total Operating income	272	199	854	517
Operating segments | AIT
Segment Reporting Information [Line Items]
Total Net sales	386	339	1,243	967
Total Operating income	77	78	283	212
Operating segments | EVM
Segment Reporting Information [Line Items]
Total Net sales	1,050	795	2,923	2,175
Total Operating income	195	121	571	305
Corporate, eliminations
Segment Reporting Information [Line Items]
Total Net sales	0	(2)	(6)	(2)
Total Operating income	$ (35)	$ (49)	$ (98)	$ (97)

Segment Information & Geograp_5

Segment Information & Geographic Data - Geographic Data for Net Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Segment Reporting Information [Line Items]
Total Net sales	$ 1,436	$ 1,132	$ 4,160	$ 3,140
North America
Segment Reporting Information [Line Items]
Total Net sales	728	629	2,108	1,650
EMEA
Segment Reporting Information [Line Items]
Total Net sales	504	340	1,458	1,034
Asia-Pacific
Segment Reporting Information [Line Items]
Total Net sales	135	115	392	322
Latin America
Segment Reporting Information [Line Items]
Total Net sales	$ 69	$ 48	$ 202	$ 134

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	Oct. 07, 2021USD ($)
Subsequent Event | Antuit Holdings Pte. Ltd,
Subsequent Event [Line Items]
Total purchase price	$ 145