Zebra Technologies (ZBRA) 10-Q 2 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 02, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2022
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		51,789,941
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000877212
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 98	$ 332
Accounts receivable, net of allowances for doubtful accounts of $1 million each as of July 2, 2022 and December 31, 2021	925	752
Inventories, net	632	491
Income tax receivable	20	8
Prepaid expenses and other current assets	131	106
Total Current assets	1,806	1,689
Property, plant and equipment, net	265	272
Right-of-use lease assets	174	131
Goodwill	3,929	3,265
Other intangibles, net	659	469
Deferred income taxes	311	192
Other long-term assets	241	197
Total Assets	7,385	6,215
Current liabilities:
Current portion of long-term debt	144	69
Accounts payable	827	700
Accrued liabilities	714	639
Deferred revenue	413	380
Income taxes payable	15	12
Total Current liabilities	2,113	1,800
Long-term debt	2,017	922
Long-term lease liabilities	155	121
Deferred income taxes	71	6
Long-term deferred revenue	318	315
Other long-term liabilities	198	67
Total Liabilities	4,872	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	512	462
Treasury stock at cost, 20,196,863 and 18,736,582 shares as of July 2, 2022 and December 31, 2021, respectively	(1,652)	(1,023)
Retained earnings	3,680	3,573
Accumulated other comprehensive loss	(28)	(29)
Total Stockholders’ Equity	2,513	2,984
Total Liabilities and Stockholders’ Equity	$ 7,385	$ 6,215

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
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)	20,196,863	18,736,582

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Net sales:
Total Net sales	$ 1,468	$ 1,377	$ 2,900	$ 2,724
Cost of sales:
Total Cost of sales	794	719	1,589	1,411
Gross profit	674	658	1,311	1,313
Operating expenses:
Selling and marketing	151	148	303	282
Research and development	148	141	285	281
General and administrative	97	92	196	174
Settlement and related costs	372	0	372	0
Amortization of intangible assets	35	26	68	52
Acquisition and integration costs	14	4	18	5
Exit and restructuring costs	2	0	2	0
Total Operating expenses	819	411	1,244	794
Operating (loss) income	(145)	247	67	519
Other (loss) income, net:
Foreign exchange (loss) gain	(3)	(1)	5	1
Interest (expense) income, net	(3)	(7)	27	(5)
Other (expense) income, net	(2)	(1)	(2)	(1)
Total Other (expense) income, net	(8)	(9)	30	(5)
(Loss) income before income tax	(153)	238	97	514
Income tax (benefit) expense	(55)	19	(10)	67
Net (loss) income	$ (98)	$ 219	$ 107	$ 447
Basic (loss) earnings per share (in USD per share)	$ (1.87)	$ 4.10	$ 2.04	$ 8.36
Diluted (loss) earnings per share (in USD per share)	$ (1.87)	$ 4.07	$ 2.02	$ 8.29
Tangible Products
Net sales:
Total Net sales	$ 1,259	$ 1,192	$ 2,466	$ 2,345
Cost of sales:
Total Cost of sales	685	618	1,366	1,209
Services and software
Net sales:
Total Net sales	209	185	434	379
Cost of sales:
Total Cost of sales	$ 109	$ 101	$ 223	$ 202

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (98)	$ 219	$ 107	$ 447
Other comprehensive income (loss), net of tax:
Changes in unrealized gains on anticipated sales hedging transactions	7	2	12	34
Foreign currency translation adjustment	(6)	0	(11)	(3)
Comprehensive (loss) income	$ (97)	$ 221	$ 108	$ 478

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - 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, 2020		53,462,082
Beginning balance at Dec. 31, 2020	$ 2,144	$ 1	$ 395	$ (919)	$ 2,736	$ (69)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		48,584
Issuances of treasury shares related to share-based compensation plans, net of forfeitures	(6)		(6)
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(400)
Share-based compensation	16		16
Repurchase of common stock (in shares)		(100)
Net income	228				228
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	32					32
Foreign currency translation adjustment	(3)					(3)
Ending balance (in shares) at Apr. 03, 2021		53,510,166
Ending balance at Apr. 03, 2021	2,411	$ 1	405	(919)	2,964	(40)
Beginning balance (in shares) at Dec. 31, 2020		53,462,082
Beginning balance at Dec. 31, 2020	2,144	$ 1	395	(919)	2,736	(69)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	447
Ending balance (in shares) at Jul. 03, 2021		53,403,293
Ending balance at Jul. 03, 2021	2,589	$ 1	427	(984)	3,183	(38)
Beginning balance (in shares) at Apr. 03, 2021		53,510,166
Beginning balance at Apr. 03, 2021	2,411	$ 1	405	(919)	2,964	(40)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		27,226
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(81,810)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(40)			(40)
Share-based compensation	22		22
Repurchase of common stock (in shares)		(52,289)
Repurchases of common stock	(25)			(25)
Net income	219				219
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	2					2
Ending balance (in shares) at Jul. 03, 2021		53,403,293
Ending balance at Jul. 03, 2021	2,589	$ 1	427	(984)	3,183	(38)
Beginning balance (in shares) at Dec. 31, 2021		53,415,275
Beginning balance at Dec. 31, 2021	2,984	$ 1	462	(1,023)	3,573	(29)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		20,082
Issuances of treasury shares related to share-based compensation plans, net of forfeitures	6		8	(2)
Shares withheld to fund withholding tax obligations related to share-based compensation plans (in shares)		(1,639)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(1)			(1)
Share-based compensation	17		17
Repurchase of common stock (in shares)		(648,875)
Repurchases of common stock	(305)			(305)
Net income	205				205
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	5					5
Foreign currency translation adjustment	(5)					(5)
Ending balance (in shares) at Apr. 02, 2022		52,784,843
Ending balance at Apr. 02, 2022	2,906	$ 1	487	(1,331)	3,778	(29)
Beginning balance (in shares) at Dec. 31, 2021		53,415,275
Beginning balance at Dec. 31, 2021	2,984	$ 1	462	(1,023)	3,573	(29)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	107
Ending balance (in shares) at Jul. 02, 2022		51,954,994
Ending balance at Jul. 02, 2022	2,513	$ 1	512	(1,652)	3,680	(28)
Beginning balance (in shares) at Apr. 02, 2022		52,784,843
Beginning balance at Apr. 02, 2022	2,906	$ 1	487	(1,331)	3,778	(29)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of treasury shares related to share based-compensation plans, net of forfeitures (in shares)		70,821
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)		(56,431)
Shares withheld to fund withholding tax obligations related to share-based compensation plans	(22)			(22)
Share-based compensation	25		25
Repurchase of common stock (in shares)		(844,239)
Repurchases of common stock	(300)			(300)
Net income	(98)				(98)
Changes in unrealized gains and losses on anticipated sales hedging transactions (net of income taxes)	7					7
Foreign currency translation adjustment	(6)					(6)
Ending balance (in shares) at Jul. 02, 2022		51,954,994
Ending balance at Jul. 02, 2022	$ 2,513	$ 1	$ 512	$ (1,652)	$ 3,680	$ (28)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Cash flows from operating activities:
Net income	$ 107	$ 447
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	103	88
Share-based compensation	42	38
Deferred income taxes	(124)	(5)
Unrealized gain on forward interest rate swaps	(52)	(13)
Other, net	3	1
Changes in operating assets and liabilities:
Accounts receivable, net	(170)	(59)
Inventories, net	(108)	26
Other assets	(52)	(22)
Accounts payable	121	(10)
Accrued liabilities	(77)	2
Deferred revenue	34	67
Income taxes	(9)	(23)
Settlement and related costs, net	320	0
Other operating activities	16	2
Net cash provided by operating activities	154	539
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired	(875)	(17)
Purchases of property, plant and equipment	(31)	(25)
Purchases of long-term investments	(6)	(17)
Net cash used in investing activities	(912)	(59)
Cash flows from financing activities:
Payment of debt issuance costs, extinguishment costs and discounts	(8)	0
Payments of long-term debt	(119)	(264)
Proceeds from issuance of long-term debt	1,294	8
Payments for repurchases of common stock	(605)	(25)
Net payments related to share-based compensation plans	(16)	(46)
Change in unremitted cash collections from servicing factored receivables	(28)	(2)
Net cash provided by (used in) financing activities	518	(329)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	(6)	(4)
Net (decrease) increase in cash and cash equivalents, including restricted cash	(246)	147
Cash and cash equivalents, including restricted cash, at beginning of period	344	192
Cash and cash equivalents, including restricted cash, at end of period	98	339
Less restricted cash, included in Prepaid expenses and other current assets	0	(21)
Cash and cash equivalents at end of period	98	318
Supplemental disclosures of cash flow information:
Income taxes paid	120	94
Interest paid	$ 15	$ 17

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jul. 02, 2022
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 software 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. 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, 2021. In the opinion of the Company, these interim financial statements include all adjustments (of a normal, recurring nature) necessary to fairly present its Consolidated Balance Sheet as of July 2, 2022, the Consolidated Statements of Operations, Comprehensive Income and Stockholders’ Equity for the three and six months ended July 2, 2022 and July 3, 2021, and the Consolidated Statement of Cash Flows for the six months ended July 2, 2022 and July 3, 2021. These results, however, are not necessarily indicative of the results expected for the full fiscal year ending December 31, 2022. Effective January 1, 2022, the location solutions offering, which provides a range of real-time location systems (“RTLS”) and services that generate on-demand information about the physical location and status of assets, equipment, and people, 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. We have reported our results reflecting this change, including historical periods, on a comparable basis. This change does not have an impact to the Consolidated Financial Statements. See Note 18, Segment Information & Geographic Data for additional information related to each segment’s results.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jul. 02, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies For a discussion of our significant accounting policies, see Note 2, Significant Accounting Policies within Part II, Item 8. “Financial Statements and Supplementary Data” in the Annual Report on Form 10-K for the year ended December 31, 2021. There have been no changes to our significant accounting policies since our Annual Report on Form 10-K for the year ended December 31, 2021.

Revenues

Revenues	6 Months Ended
	Jul. 02, 2022
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 solution offerings are generally recognized over time 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 over time using a time-based method, depending upon how control is transferred to the customer. In cases where a bundle of products, services, solutions and/or software are delivered to the customer, judgment is required to select the method of progress which best reflects the transfer of control. Disaggregation of Revenue The following table presents our Net sales disaggregated by product category for each of our segments, AIT and EVM, for the three and six months ended July 2, 2022 and July 3, 2021 (in millions): Three Months Ended July 2, 2022 July 3, 2021 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 422 $ 24 $ 446 $ 390 $ 24 $ 414 EVM 837 185 1,022 802 164 966 Corporate, eliminations (1) — — — — (3) (3) Total $ 1,259 $ 209 $ 1,468 $ 1,192 $ 185 $ 1,377 Six Months Ended July 2, 2022 July 3, 2021 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 792 $ 48 $ 840 $ 797 $ 46 $ 843 EVM 1,674 386 2,060 1,548 339 1,887 Corporate, eliminations (1) — — — — (6) (6) Total $ 2,466 $ 434 $ 2,900 $ 2,345 $ 379 $ 2,724 (1) Amounts included in Corporate, eliminations consist of purchase accounting adjustments. In addition, refer to Note 18, 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 solution offerings. The aggregated transaction price allocated to remaining performance obligations for arrangements with an original term exceeding one year was $1,055 million and $1,033 million, inclusive of deferred revenue, as of July 2, 2022 and December 31, 2021, respectively. On average, remaining performance obligations as of July 2, 2022 and December 31, 2021 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 $12 million and $10 million as of July 2, 2022 and December 31, 2021, respectively. These contract assets result from timing differences between billing and satisfying performance obligations, as well as the impact from the allocation of the transaction price among performance obligations for contracts that include multiple performance obligations. Contract assets are evaluated for impairment and no impairment losses have been recognized during the three and six months ended July 2, 2022 and July 3, 2021, respectively. 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 $731 million and $695 million as of July 2, 2022 and December 31, 2021, respectively. During the three and six months ended July 2, 2022, the Company recognized $108 million and $237 million in revenue, which was previously included in the beginning balance of deferred revenue as of December 31, 2021. During the three and six months ended July 3, 2021, the Company recognized $75 million and $185 million in revenue, which was previously included in the beginning balance of deferred revenue as of December 31, 2020.

Inventories

Inventories	6 Months Ended
	Jul. 02, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories The components of Inventories, net are as follows (in millions): July 2, December 31, Raw materials $ 275 $ 196 Work in process 3 3 Finished goods 354 292 Total Inventories, net $ 632 $ 491

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jul. 02, 2022
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions	Business Acquisitions Matrox On June 3, 2022, the Company acquired Matrox Electronic Systems Ltd. (“Matrox”), a developer of advanced machine vision components and software. Through its acquisition of Matrox, the Company intends to expand its machine vision products and software offerings. The acquisition was accounted for under the acquisition method of accounting for business combinations. The Company’s total purchase consideration was $878 million comprised of $875 million in cash paid at closing, net of Matrox’s cash on-hand and an additional $3 million of cash that will be paid in the third quarter of 2022. The Company utilized estimated fair values as of the acquisition date 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 customer relationships as well as the relief from royalty 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 July 2, 2022 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 $ 257 Inventory 33 Other assets acquired 13 Deferred tax liabilities (68) Other liabilities assumed (21) Net assets acquired $ 214 Goodwill on acquisition 664 Total purchase price $ 878 The $664 million of goodwill, which is non-deductible for tax purposes, has been allocated to the EVM segment and principally relates to the planned global expansion and integration of Matrox into the Company’s machine vision offerings. The preliminary purchase price allocation to identifiable intangible assets acquired was as follows: Fair Value (in millions) Useful Life (in years) Customer and other relationships $ 196 11 Technology and patents 59 7 Trade names 2 2 Total identifiable intangible assets $ 257 In connection with the acquisition of Matrox, the Company granted $13 million of cash-settled RSUs to certain employees, which are attributable to service to be rendered subsequent to the acquisition and will generally be expensed over a 3-year service period. The Company has not included unaudited pro forma results, as if Matrox had been acquired as of January 1, 2021, as doing so would not yield materially different results. The Company incurred approximately $14 million of acquisition-related costs during the second quarter of 2022, primarily related to third-party transaction and advisory fees associated with the Matrox acquisition. These costs are included within Acquisition and integration costs on the Consolidated Statement of Operations.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jul. 02, 2022
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, 2021 $ 169 $ 3,096 $ 3,265 Matrox acquisition — 664 664 Goodwill as of July 2, 2022 $ 169 $ 3,760 $ 3,929 See Note 5, Business Acquisitions for further details related to the Company’s acquisitions and purchase price allocation adjustments. Other Intangibles, net The balances in Other Intangibles, net consisted of the following (in millions): As of July 2, 2022 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Technology and patents $ 948 $ (592) $ 356 $ 889 $ (566) $ 323 Customer and other relationships 826 (541) 285 631 (503) 128 Trade names 66 (48) 18 64 (46) 18 Total $ 1,840 $ (1,181) $ 659 $ 1,584 $ (1,115) $ 469 Amortization expense was $35 million and $26 million during the three months ended July 2, 2022 and July 3, 2021, respectively, and $68 million and $52 million during the six months ended July 2, 2022 and July 3, 2021, respectively. As of July 2, 2022, estimated future intangible asset amortization expense is as follows (in millions): 2022 (remaining 6 months) $ 66 2023 99 2024 94 2025 93 2026 89 Thereafter 218 Total $ 659

Investments

Investments	6 Months Ended
	Jul. 02, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The carrying value of the Company’s venture investments was $107 million and $101 million as of July 2, 2022 and December 31, 2021, respectively, which are included in Other long-term assets on the Consolidated Balance Sheets. During the three and six months ended July 2, 2022, the Company paid $1 million and $6 million for the purchases of long-term investments, respectively. Comparatively, during the three and six months ended July 3, 2021, the Company paid $4 million and $17 million for the purchases of new long-term investments, respectively. Net gains and losses related to the Company’s investments are included within Other (expense) income, net on the Consolidated Statements of Operations. The Company recognized net losses of $0 million and $1 million during the three months ended July 2, 2022 and July 3, 2021, respectively. The Company did not recognize any net gains or losses in the six months ended July 2, 2022 or July 3, 2021.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 02, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets and liabilities are measured using inputs from three levels of the fair value hierarchy in accordance with Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into the following three broad levels: • Level 1: Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs (e.g. U.S. Treasuries and money market funds). • Level 2: Observable prices that are based on inputs not quoted in active markets but corroborated by market data. • Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs to the extent possible. In addition, the Company considers counterparty credit risk in the assessment of fair value. The Company’s financial assets and liabilities carried at fair value as of July 2, 2022, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ 3 $ 37 $ — $ 40 Forward interest rate swap contracts (2) — 36 — 36 Money market investments related to deferred compensation plan 33 — — 33 Total Assets at fair value $ 36 $ 73 $ — $ 109 Liabilities: Liabilities related to the deferred compensation plan 33 — — 33 Total Liabilities at fair value $ 33 $ — $ — $ 33 The Company’s financial assets and liabilities carried at fair value as of December 31, 2021, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ — $ 23 $ — $ 23 Money market investments related to deferred compensation plan 37 — — 37 Total Assets at fair value $ 37 $ 23 $ — $ 60 Liabilities: Forward interest rate swap contracts (2) $ — $ 16 $ — $ 16 Liabilities related to the deferred compensation plan 37 — — 37 Total Liabilities at fair value $ 37 $ 16 $ — $ 53 (1) The fair value of the foreign exchange contracts is calculated as follows: • Fair value of regular forward contracts associated with forecasted sales hedges is calculated using the period-end exchange rate adjusted for current forward points. • Fair value of hedges against net assets is calculated at the period-end exchange rate adjusted for current forward points unless the hedge has been traded but not settled at year end (Level 2). If this is the case, the fair value is calculated at the rate at which the hedge is being settled (Level 1).

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jul. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments In the normal course of business, the Company is exposed to global market risks, including the effects of changes in foreign currency exchange rates and interest rates. The Company uses derivative instruments to manage its exposure to such risks and may elect to designate certain derivatives as hedging instruments under ASC Topic 815, Derivatives and Hedging (“ASC 815”). The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. The Company does not hold or issue derivatives for trading or speculative purposes. In accordance with ASC 815, the Company recognizes derivative instruments as either assets or liabilities on the Consolidated Balance Sheets and measures them at fair value. The following table presents the fair value of its derivative instruments (in millions): Asset (Liability) Fair Values as of Balance Sheet Classification July 2, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 37 $ 23 Total derivative instruments designated as hedges $ 37 $ 23 Derivative instruments not designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 3 $ — Forward interest rate swaps Prepaid expenses and other current assets 8 — Forward interest rate swaps Other long-term assets 28 — Forward interest rate swaps Accrued liabilities — (15) Forward interest rate swaps Other long-term liabilities — (1) Total derivative instruments not designated as hedges $ 39 $ (16) Total net derivative asset $ 76 $ 7 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 Six Months Ended Statements of Operations Classification July 2, July 3, July 2, July 3, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange (loss) gain $ 9 $ (6) $ 8 $ — Forward interest rate swaps Interest (expense) income, net 11 (3) 45 5 Total gain (loss) recognized in income $ 20 $ (9) $ 53 $ 5 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 would have been unchanged as of July 2, 2022 and increased by $1 million as of December 31, 2021. 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 $27 million of gains and $8 million of losses for the three months ended July 2, 2022 and July 3, 2021, respectively. Realized amounts reclassified to Net sales were $43 million of gains and $20 million of losses for the six months ended July 2, 2022 and July 3, 2021, respectively. As of July 2, 2022 and December 31, 2021, the notional amounts of the Company’s foreign exchange cash flow hedges were €459 million and €675 million, respectively. The Company has reviewed its cash flow hedges for effectiveness and determined that they are highly effective. The Company uses forward contracts, which are not designated as hedging instruments, to manage its exposures related to net assets denominated in foreign currencies. These forward contracts typically mature within one month after execution. Monetary gains and losses on these forward contracts are recorded in income and are generally offset by the transaction gains and losses related to their net asset positions. The notional values and the net fair values of these outstanding contracts were as follows (in millions): July 2, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 21 £ 13 Euro/U.S. Dollar € 123 € 142 Euro/Czech Koruna € 16 € 16 Singapore Dollar/U.S. Dollar S$ 12 S$ 16 Mexican Peso/U.S. Dollar Mex$ 113 Mex$ 64 Polish Zloty/U.S. Dollar zł 14 zł 103 Net fair value of assets of outstanding contracts $ 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 long-term forward 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. The Company has one active long-term forward interest rate swap agreement with a notional amount of $800 million to lock into a fixed LIBOR interest rate base, which is subject to monthly net cash settlements effective through December 2022. The Company also previously held fixed LIBOR interest rate swaps with an $800 million total notional amount that were subject to net cash settlements effective between December 2022 and August 2024. In the first quarter of 2022, the Company terminated those interest rate swaps and entered into new interest rate swap agreements that contain a total notional amount of $800 million to lock into a fixed SOFR interest rate base and will be subject to monthly net cash settlements effective in December 2022 and ending in October 2027. The Company’s interest rate swaps are not designated as hedges and changes in fair value are recognized immediately as Interest (expense) income, net on the Consolidated Statements of Operations.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 02, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table shows the carrying value of the Company’s debt (in millions): July 2, December 31, Term Loan A $ 1,750 $ 888 Revolving Credit Facility 235 — Receivables Financing Facilities 186 108 Total debt $ 2,171 $ 996 Less: Debt issuance costs (5) (3) Less: Unamortized discounts (5) (2) Less: Current portion of debt (144) (69) Total long-term debt $ 2,017 $ 922 As of July 2, 2022, the future maturities of debt are as follows (in millions): 2022 (remaining 6 months) $ 122 2023 44 2024 129 2025 66 2026 88 Thereafter 1,722 Total future debt maturities $ 2,171 All borrowings as of July 2, 2022 were denominated in U.S. Dollars. The estimated fair value of the Company’s debt approximated $2.1 billion and $1.0 billion as of July 2, 2022 and December 31, 2021, 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 debt will continue to vary each period based on a number of factors, including fluctuations in market interest rates as well as changes to the Company’s credit ratings. In May 2022, the Company refinanced its long-term credit facilities by entering into its third amendment to the Amended and Restated Credit Agreement (“Amendment No. 3”). Amendment No. 3 increased the Company’s borrowing under Term Loan A from $875 million to $1.75 billion and increased the Company’s borrowing capacity under the Revolving Credit Facility from $1 billion to $1.5 billion. Amendment No. 3 also extended the maturities of Term Loan A and the Revolving Credit Facility to May 25, 2027 and replaced LIBOR with SOFR as the benchmark reference rate. This refinancing resulted in one-time charges of $2 million, which included certain third party fees and the accelerated amortization of previously deferred issuance costs. These items are included in Interest (expense) income, net on the Consolidated Statements of Operations. Additionally, $6 million of new issuance costs and fees were deferred and will be amortized over the remaining term of Term Loan A and the Revolving Credit Facility. Term Loan A The principal on Term Loan A is due in quarterly installments, with the next quarterly installment due in September 2022 and the majority due upon the May 25, 2027 maturity date. The Company may make prepayments, in whole or in part, without premium or penalty, and would be required to prepay certain outstanding amounts in the event of certain circumstances or transactions. As of July 2, 2022, the Term Loan A interest rate was 3.10%. Interest payments are generally made monthly and are subject to variable rates plus an applicable margin. Revolving Credit Facility The Company has a Revolving Credit Facility that is available for working capital and other general business purposes, including letters of credit. As of July 2, 2022, the Company had letters of credit totaling $7 million, which reduced funds available for borrowings under the Revolving Credit Facility from $1,500 million to $1,493 million. As of July 2, 2022, the Revolving Credit Facility had an average interest rate of 2.57%. Upon borrowing, interest payments are made monthly and are subject to variable rates plus an applicable margin. The Revolving Credit Facility matures on May 25, 2027. 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 15, 2023. As of July 2, 2022, the Company’s Consolidated Balance Sheets included $763 million of receivables that were pledged under the two Receivables Financing Facilities. As of July 2, 2022, $186 million had been borrowed, of which $100 million was classified as current. Borrowings under the Receivables Financing Facilities bear interest at a variable rate plus an applicable margin. As of July 2, 2022, the Receivables Financing Facilities had an average interest rate of 2.57%. Interest is paid on these borrowings on a monthly basis. Each of the Company’s borrowing arrangements described above include terms and conditions that limit the incurrence of additional borrowings and require that certain financial ratios be maintained at designated levels. The Company uses interest rate swaps to manage the interest rate risk associated with its debt. See Note 9 , Derivative Instruments for further information. As of July 2, 2022, the Company was in compliance with all debt covenants.

Leases

Leases	6 Months Ended
	Jul. 02, 2022
Leases [Abstract]
Leases	Leases During the three months ended July 2, 2022, the Company recorded an additional $54 million of right-of-use (“ROU”) assets obtained in exchange for lease obligations primarily related to the commencement of a new distribution center lease agreement and an extension to a real estate lease agreement. Future minimum lease payments under non-cancellable leases as of July 2, 2022 were as follows (in millions): 2022 (remaining 6 months) $ 24 2023 44 2024 42 2025 30 2026 25 Thereafter 67 Total future minimum lease payments $ 232 Less: Interest (38) Present value of lease liabilities $ 194 Reported as of July 2, 2022: Current portion of lease liabilities $ 39 Long-term lease liabilities 155 Present value of lease liabilities $ 194 The current portion of lease liabilities is included within Accrued liabilities on the Consolidated Balance Sheets.

Accrued Liabilities, Commitment

Accrued Liabilities, Commitments and Contingencies	6 Months Ended
	Jul. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Accrued Liabilities, Commitments and Contingencies	Accrued Liabilities, Commitments and Contingencies Accrued Liabilities The components of Accrued liabilities are as follows (in millions): July 2, December 31, Settlement and related costs $ 185 $ — Payroll and benefits 116 96 Incentive compensation 64 155 Warranty 26 26 Customer rebates 49 51 Leases 39 33 Unremitted cash collections due to banks on factored accounts receivable 113 141 Short-term interest rate swaps — 15 Freight and duty 45 45 Other 77 77 Accrued liabilities $ 714 $ 639 Warranties The following table is a summary of the Company’s accrued warranty obligations (in millions): Six Months Ended July 2, July 3, Balance at the beginning of the period $ 26 $ 24 Warranty expense 15 16 Warranties fulfilled (15) (15) Balance at the end of the period $ 26 $ 25 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. The Company records a liability for contingencies when a loss is deemed to be probable and the loss can be reasonably estimated. During the second quarter of 2022, the Company entered into a License and Settlement agreement (“Settlement”) to resolve certain patent-related litigation. Under the Settlement, the Company and the counterparty each agreed to a mutual general release from all past claims asserted by the parties; entered into a covenant not to sue for patent infringement; agreed to a payment by the Company to the counterparty for past damages of $360 million and entered into a royalty-free cross-license with respect to each party’s existing patent portfolio for the lives of the licensed patents. Based on the terms of the Settlement and a relative fair value analysis of each of the settlement provisions, the Company concluded that no significant portion of the payment resulted in a future benefit, and as such, the full $360 million was recorded as a charge in the current quarter. That charge, along with $12 million of external legal fees, is reflected within Settlement and related costs on the Consolidated Statement of Operations. The payment terms under the Settlement consist of 8 quarterly payments of $45 million beginning in the current quarter. The portion payable in the next 12 months is included within Accrued liabilities, with the remaining amounts included within Other long-term liabilities on the Consolidated Balance Sheets. See Item 1, Legal Proceedings for additional information.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 02, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation In May 2018, the Company’s stockholders approved the Zebra Technologies 2018 Long-Term Incentive Plan (“2018 Plan”). The 2018 Plan superseded and replaced the Zebra Technologies Corporation 2015 Long-Term Incentive Plan (“2015 Plan”) on the approval date, except that the 2015 Plan, as well as the Zebra Technologies Corporation 2011 Long-Term Incentive Plan that was previously superseded by the 2015 Plan, remain in effect with respect to outstanding stock appreciation rights that were granted under those plans until such awards have been exercised, forfeited, cancelled, expired or otherwise terminated in accordance with their terms. Awards available under the 2018 Plan include stock-settled awards, including stock-settled restricted stock units, stock-settled performance stock units, restricted stock awards, performance share awards, stock appreciation rights, incentive stock options, and non-qualified stock options. Awards available under the 2018 Plan also include cash-settled awards, including cash-settled stock appreciation rights, cash-settled restricted stock units, and cash-settled performance stock units. No awards remain available for future grants under the 2015 Plan or previous plans. The Company uses treasury shares as its source for issuing shares under the share-based compensation programs. As of July 2, 2022, the Company had 2,878,812 shares of Class A Common stock remaining available to be issued under the 2018 Plan. The compensation expense from the Company’s share-based compensation plans and associated income tax benefit, excluding the effects of excess tax benefits or shortfalls, were included in the Consolidated Statements of Operations as follows (in millions): Three Months Ended Six Months Ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Cost of sales $ 1 $ 2 $ 2 $ 4 Selling and marketing 6 7 10 13 Research and development 10 8 16 14 General and administration 10 10 16 17 Total compensation expense $ 27 $ 27 $ 44 $ 48 Income tax benefit $ 5 $ 4 $ 8 $ 7 As of July 2, 2022, total unearned compensation costs related to the Company’s share-based compensation plans was $149 million, which will be recognized over the weighted average remaining service period of approximately 1.6 years. The majority of the Company’s share-based compensation awards are generally issued as part of its employee and non-employee director incentive program during the second quarter of each fiscal year. The Company also issues awards associated with business acquisitions or other off-cycle events. Stock-Settled Restricted Stock Units (“stock-settled RSUs”) and Stock-Settled Performance Share Units (“stock-settled PSUs”) The Company began issuing stock-settled RSUs and stock-settled PSUs in the second quarter of 2021. Stock-settled RSUs and stock-settled PSUs each typically vest over a three-year service period, with stock-settled RSUs vesting ratably in three Compensation cost for the Company’s stock-settled RSUs and stock-settled PSUs is expensed over each participant’s required service period. Compensation cost is calculated as the fair market value of the Company’s Class A Common Stock on the grant date multiplied by the number of units granted, net of estimated forfeitures. The fair value of PSUs also includes assumptions around achievement of certain Company-wide financial performance goals. Restricted Stock Awards (“RSAs”) and Performance Share Awards (“PSAs”) Prior to 2021, the Company’s restricted stock grants consisted of time-vested RSAs and PSAs as part of the Company’s annual incentive program. These awards are considered participating securities. The outstanding RSAs and PSAs are included as part of the Company’s Class A Common Stock outstanding. The RSAs and PSAs vest at each vesting date, subject to restrictions such as continuous employment, except in certain cases as set forth in each stock agreement. Upon vesting, RSAs and PSAs are released to holders and are no longer subject to restrictions. Compensation cost for the Company’s RSAs and PSAs is expensed over each participant’s required service period. Compensation cost is calculated as the fair market value of the Company’s Class A Common Stock on the grant date multiplied by the number of units granted, net of estimated forfeitures. The fair value of PSAs also includes assumptions around achievement of certain Company-wide financial performance goals. The total required service period is typically three years. The Company also issues RSAs to non-employee directors. The number of shares granted to each non-employee director is determined by dividing the value of the annual grant by the price of a share of the Company’s Class A Common Stock. New directors in any fiscal year earn a prorated amount. During the first six months of 2022, there were 5,686 shares granted to non-employee directors compared to 2,877 shares during the first six months of 2021. The shares vest immediately on the grant date. A summary of the Company’s restricted and performance stock-settled awards for the six months ended July 2, 2022 is as follows: RSUs PSUs RSAs PSAs Units Weighted-Average Grant Date Fair Value Units Weighted-Average Grant Date Fair Value Shares Weighted-Average Shares Weighted-Average Grant Date Fair Value Outstanding at beginning of period 130,009 $ 518.80 37,691 $ 482.42 154,322 $ 253.54 74,032 $ 225.34 Granted 164,592 366.72 69,553 367.87 5,960 321.34 — — Released (27,961) 492.78 (226) 482.42 (90,499) 233.33 (37,617) 205.54 Forfeited (8,636) 512.86 (402) 482.42 (6,650) 253.00 (115) 244.62 Outstanding at end of period 258,004 $ 424.54 106,616 $ 407.69 63,133 $ 288.01 36,300 $ 245.80 Stock Appreciation Rights (“SARs”) SARs were previously granted primarily as part of the Company’s annual share-based compensation incentive program. Beginning in 2021, the Company no longer included SARs in its annual share based compensation award issuances and did not issue any SARs during the six months ended July 2, 2022. A summary of the Company’s SARs for the six months ended July 2, 2022 is as follows: SARs SARs Weighted-Average Exercise Price Outstanding at beginning of period 474,151 $ 121.05 Granted — — Exercised (16,533) 70.19 Forfeited (953) 226.71 Expired — — Outstanding at end of period 456,665 $ 122.67 Exercisable at end of period 410,816 $ 109.36 The following table summarizes information about SARs outstanding as of July 2, 2022: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 81 $ 78 Weighted-average remaining contractual life (in years) 3.1 3.0 The intrinsic value of SARs exercised during the six months ended July 2, 2022 and July 3, 2021 was $6 million and $38 million, respectively. The total fair value of SARs vested during the six months ended July 2, 2022 and July 3, 2021 was $3 million and $5 million, respectively. Reflexis Replacement Options In connection with the Company’s September 2020 acquisition of Reflexis, the Company assumed the 2016 Stock Incentive Plan of Reflexis Systems, Inc. (the “Reflexis Plan”) and replaced certain unvested options under the Reflexis Plan with Zebra incentive stock options (“Reflexis Replacement Options”). Upon exercise of Reflexis Replacement Options, the Company receives cash proceeds equal to the exercise price and issues whole shares of Class A Common Stock to participants. As of July 2, 2022, there were 19,540 outstanding Reflexis Replacement Options, of which 17,132 were exercisable. The outstanding awards have a weighted average exercise price and remaining contractual life of $57.69 and 5.9 years, respectively. The awards that are exercisable have a weighted average exercise price and remaining contractual life of $55.47 and 5.7 years, respectively. The intrinsic value of Reflexis Replacement Options exercised was $2 million each during the six months ended July 2, 2022 and July 3, 2021. The total fair value of Reflexis Replacement Options vested during the six months ended July 2, 2022 and July 3, 2021 was $1 million and $3 million, respectively. Cash-settled awards The Company also has cash-settled share-based compensation awards, including cash-settled stock appreciation rights, cash-settled restricted stock units and cash-settled performance stock units that are classified as liability awards. These awards are expensed over the vesting period of the related award, which is typically three years. Compensation cost is calculated at the fair value on grant date multiplied by the number of share-equivalents granted. The fair value is remeasured at the end of each reporting period based on the Company’s stock price, with remeasurements reflected as an adjustment to compensation expense in the Consolidated Statements of Operations. Cash settlement is based on the fair value of share equivalents at the time of vesting, which was $4 million and $9 million for the six months ended July 2, 2022 and July 3, 2021, respectively. Share-equivalents issued under these programs totaled 64,056 and 9,262 during the six months ended July 2, 2022 and July 3, 2021, respectively. In connection with the acquisition of Matrox, the Company granted $13 million of cash-settled RSUs to certain employees, which are attributable to service to be rendered subsequent to the acquisition and will generally be expensed over a 3-year service period. Employee Stock Purchase Plan In May 2020, the Company’s stockholders approved the Zebra Technologies Corporation 2020 Employee Stock Purchase Plan (“2020 ESPP”), which superseded the 2011 Employee Stock Purchase Plan (“2011 ESPP”) and became effective on July 1, 2020. Like the 2011 ESPP, the 2020 ESPP permits eligible employees to purchase common stock at 95% of the fair market value at the date of purchase. Employees may make purchases by cash or payroll deductions up to certain limits. The aggregate number of shares that may be purchased under the 2020 ESPP is 1,500,000 shares. As of July 2, 2022, 1,421,112 shares remained available for future purchase.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three and six months ended July 2, 2022 was 35.9% and (10.3)%, respectively, compared to 8.0% and 13.0%, three and six respectively, for the comparable periods ended July 3, 2021. In the current period, the variance from the 21% federal statutory rate was primarily attributable to a discrete tax benefit resulting from the Settlement and related costs recorded in the quarter, lower tax rates on foreign earnings, and U.S. tax credits. In the prior period, the variance from the 21% federal statutory rate was primarily attributable to share-based compensation deductions, lower tax rates on foreign earnings and U.S. tax credits. The Company evaluated 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. 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 Global Intangible Low-Taxed Income, while any remaining foreign earnings are eligible for a dividends received deduction. As a result, future repatriation of earnings will not be subject to additional U.S. federal income tax but may be subject to currency translation gains or losses. Where required, the Company has recorded a deferred tax liability for foreign withholding taxes on current earnings. Additionally, gains and losses on any future taxable dispositions of U.S.-owned foreign affiliates continue to be subject to U.S. income tax. Management evaluates all jurisdictions based on historical pre-tax earnings and taxable income to determine the need for valuation allowances on a quarterly basis. Based on this analysis, a valuation allowance has been recorded for any jurisdictions where, in the Company’s judgment, tax benefits are not expected to be realized. There were no changes to our valuation allowance during the three and six months ended July 2, 2022. Uncertain Tax Positions

(Loss) Earnings Per Share

(Loss) Earnings Per Share	6 Months Ended
	Jul. 02, 2022
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	(Loss) Earnings Per Share Basic net (loss) earnings per share is calculated by dividing net (loss) income by the weighted average number of common shares outstanding for the period. Diluted (loss) earnings per share is computed by dividing net (loss) 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. (Loss) earnings per share (in millions, except share data): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Basic: Net (loss) income $ (98) $ 219 $ 107 $ 447 Weighted-average shares outstanding (1) 52,138,470 53,449,143 52,642,348 53,460,495 Basic (loss) earnings per share $ (1.87) $ 4.10 $ 2.04 $ 8.36 Diluted: Net (loss) income $ (98) $ 219 $ 107 $ 447 Weighted-average shares outstanding (1) 52,138,470 53,449,143 52,642,348 53,460,495 Dilutive shares (2) — 459,152 391,381 469,608 Diluted weighted-average shares outstanding 52,138,470 53,908,295 53,033,729 53,930,103 Diluted (loss) earnings per share $ (1.87) $ 4.07 $ 2.02 $ 8.29 (1) In periods of a net loss, restricted stock and performance share awards, which are participating securities, are excluded from weighted-average shares outstanding. (2) In periods of net loss, all unvested share-based awards were anti-dilutive and therefore excluded from diluted shares. Anti-dilutive share-based compensation awards are excluded from diluted earnings per share calculations. There were 630,182 and 335,476 shares that were anti-dilutive for the three and six months ended July 2, 2022, respectively. No shares were anti-dilutive for the three and six months ended and July 3, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 02, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Stockholders’ equity includes certain items classified as AOCI, including: • Unrealized gain (loss) on anticipated sales hedging transactions relates to derivative instruments used to hedge the exposure related to currency exchange rates for forecasted Euro sales. These hedges are designated as cash flow hedges, and the Company defers income statement recognition of gains and losses until the hedged transaction occurs. See Note 9, Derivative Instruments for more details. • Foreign currency translation adjustments relate to the Company’s non-U.S. subsidiary companies that have designated a functional currency other than the U.S. Dollar. The Company is required to translate the subsidiary functional currency financial statements to U.S. Dollars using a combination of historical, period end, and average foreign exchange rates. This combination of rates creates the foreign currency translation adjustment component of AOCI. The components of AOCI for the six months ended July 2, 2022 and July 3, 2021 are as follows (in millions): Unrealized gain (loss) on sales hedging Foreign currency translation adjustments Total Balance at December 31, 2020 $ (28) $ (41) $ (69) Other comprehensive income (loss) before reclassifications 23 (3) 20 Amounts reclassified from AOCI (1) 20 — 20 Tax effect (9) — (9) Other comprehensive income (loss), net of tax 34 (3) 31 Balance at July 3, 2021 $ 6 $ (44) $ (38) Balance at December 31, 2021 $ 18 $ (47) $ (29) Other comprehensive income (loss) before reclassifications 57 (11) 46 Amounts reclassified from AOCI (1) (43) — (43) Tax effect (2) — (2) Other comprehensive income (loss), net of tax 12 (11) 1 Balance at July 2, 2022 $ 30 $ (58) $ (28) (1) See Note 9, Derivative Instruments

Accounts Receivable Factoring

Accounts Receivable Factoring	6 Months Ended
	Jul. 02, 2022
Transfers and Servicing [Abstract]
Accounts Receivable Factoring	Accounts Receivable Factoring The Company has Receivables Factoring arrangements, pursuant to which certain receivables are sold to banks without recourse in exchange for cash. Transactions under the Receivables Factoring arrangements are accounted for as sales under ASC 860, Transfers and Servicing of Financial Assets , with the sold receivables removed from the Company’s balance sheet. Under these Receivables Factoring arrangements, the Company does not maintain any beneficial interest in the receivables sold. The banks’ purchase of eligible receivables is subject to a maximum amount of uncollected receivables. The Company services the receivables on behalf of the banks, but otherwise maintains no significant continuing involvement with respect to the receivables. Sale proceeds that are representative of the fair value of factored receivables, less a factoring fee, are reflected in Net cash provided by operating activities on the Consolidated Statements of Cash Flows, while sale proceeds in excess of the fair value of factored receivables are reflected in Net cash used in financing activities on the Consolidated Statements of Cash Flows. The Company currently has two active Receivables Factoring arrangements. One arrangement allows for the factoring of up to $25 million of uncollected receivables originated from the Europe, Middle East, and Africa (“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 may be 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 $0 million and $12 million as of July 2, 2022 and December 31, 2021, respectively, and is classified within Prepaid expenses and other current assets on the Consolidated Balance Sheets. During the six months ended July 2, 2022 and July 3, 2021, the Company received cash proceeds of $765 million and $814 million, respectively, from the sales of accounts receivables under its factoring arrangements. As of July 2, 2022 and December 31, 2021, there were a total of $64 million and $24 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 $113 million and $141 million of obligations that were not yet remitted to banks as of July 2, 2022 and December 31, 2021, respectively. These obligations are included within Accrued liabilities on the Consolidated Balance Sheets, with changes in such obligations reflected within Net cash used in financing activities on the Consolidated Statements of Cash Flows. Fees incurred in connection with these arrangements were not significant.

Segment Information & Geographi

Segment Information & Geographic Data	6 Months Ended
	Jul. 02, 2022
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, as well as certain other non-recurring costs (such as the Settlement and related costs in the current year). Segment assets are not reviewed by the Company’s CODM and therefore are not disclosed below. Effective January 1, 2022, the location solutions offering, which provides a range of RTLS and services that generate on-demand information about the physical location and status of assets, equipment, and people, moved from our AIT segment into our EVM segment contemporaneous with a change in our organizational structure and management of the business. We have reported our results reflecting this change, including historical periods, on a comparable basis. This change did not have an impact to the Consolidated Financial Statements. Financial information by segment is presented as follows (in millions): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Net sales: AIT $ 446 $ 414 $ 840 $ 843 EVM 1,022 966 2,060 1,887 Total segment Net sales 1,468 1,380 2,900 2,730 Corporate, eliminations (1) — (3) — (6) Total Net sales $ 1,468 $ 1,377 $ 2,900 $ 2,724 Operating income: AIT (2) $ 97 $ 100 $ 157 $ 211 EVM (2) 181 180 370 371 Total segment operating income 278 280 527 582 Corporate eliminations (1) (423) (33) (460) (63) Total Operating (loss) income $ (145) $ 247 $ 67 $ 519 (1) To the extent applicable, amounts included in Corporate eliminations consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, as well as certain other non-recurring costs (such as the Settlement and related costs in the current year). (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 tables. Net sales amounts are attributed to geographic area based on customer location. We manage our business based on regions rather than by individual countries. Geographic data for Net sales is as follows (in millions): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, North America $ 714 $ 707 $ 1,413 $ 1,380 EMEA 521 464 1,021 954 Asia-Pacific 152 137 301 257 Latin America 81 69 165 133 Total Net sales $ 1,468 $ 1,377 $ 2,900 $ 2,724

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2022
Accounting Policies [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 solution offerings are generally recognized over time 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 over time using a time-based method, depending upon how control is transferred to the customer. In cases where a bundle of products, services, solutions and/or software are delivered to the customer, judgment is required to select the method of progress which best reflects the transfer of control.
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.
Derivative Instruments	Derivative Instruments In the normal course of business, the Company is exposed to global market risks, including the effects of changes in foreign currency exchange rates and interest rates. The Company uses derivative instruments to manage its exposure to such risks and may elect to designate certain derivatives as hedging instruments under ASC Topic 815, Derivatives and Hedging (“ASC 815”). The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. The Company does not hold or issue derivatives for trading or speculative purposes.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jul. 02, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue By Product Category And Segment	The following table presents our Net sales disaggregated by product category for each of our segments, AIT and EVM, for the three and six months ended July 2, 2022 and July 3, 2021 (in millions): Three Months Ended July 2, 2022 July 3, 2021 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 422 $ 24 $ 446 $ 390 $ 24 $ 414 EVM 837 185 1,022 802 164 966 Corporate, eliminations (1) — — — — (3) (3) Total $ 1,259 $ 209 $ 1,468 $ 1,192 $ 185 $ 1,377 Six Months Ended July 2, 2022 July 3, 2021 Segment Tangible Products Services and Software Total Tangible Products Services and Software Total AIT $ 792 $ 48 $ 840 $ 797 $ 46 $ 843 EVM 1,674 386 2,060 1,548 339 1,887 Corporate, eliminations (1) — — — — (6) (6) Total $ 2,466 $ 434 $ 2,900 $ 2,345 $ 379 $ 2,724 (1) Amounts included in Corporate, eliminations consist of purchase accounting adjustments.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 02, 2022
Inventory Disclosure [Abstract]
Schedule of Components of Inventories, Net	The components of Inventories, net are as follows (in millions): July 2, December 31, Raw materials $ 275 $ 196 Work in process 3 3 Finished goods 354 292 Total Inventories, net $ 632 $ 491

Business Acquisitions (Tables)

Business Acquisitions (Tables)	6 Months Ended
	Jul. 02, 2022
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 $ 257 Inventory 33 Other assets acquired 13 Deferred tax liabilities (68) Other liabilities assumed (21) Net assets acquired $ 214 Goodwill on acquisition 664 Total purchase price $ 878
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) Customer and other relationships $ 196 11 Technology and patents 59 7 Trade names 2 2 Total identifiable intangible assets $ 257

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jul. 02, 2022
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, 2021 $ 169 $ 3,096 $ 3,265 Matrox acquisition — 664 664 Goodwill as of July 2, 2022 $ 169 $ 3,760 $ 3,929
Schedule of Finite-Lived Intangible Assets	The balances in Other Intangibles, net consisted of the following (in millions): As of July 2, 2022 As of December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Technology and patents $ 948 $ (592) $ 356 $ 889 $ (566) $ 323 Customer and other relationships 826 (541) 285 631 (503) 128 Trade names 66 (48) 18 64 (46) 18 Total $ 1,840 $ (1,181) $ 659 $ 1,584 $ (1,115) $ 469
Estimated Future Intangible Asset Amortization Expense	As of July 2, 2022, estimated future intangible asset amortization expense is as follows (in millions): 2022 (remaining 6 months) $ 66 2023 99 2024 94 2025 93 2026 89 Thereafter 218 Total $ 659

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 02, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Carried at Fair Value	The Company’s financial assets and liabilities carried at fair value as of July 2, 2022, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ 3 $ 37 $ — $ 40 Forward interest rate swap contracts (2) — 36 — 36 Money market investments related to deferred compensation plan 33 — — 33 Total Assets at fair value $ 36 $ 73 $ — $ 109 Liabilities: Liabilities related to the deferred compensation plan 33 — — 33 Total Liabilities at fair value $ 33 $ — $ — $ 33 The Company’s financial assets and liabilities carried at fair value as of December 31, 2021, are classified below (in millions): Level 1 Level 2 Level 3 Total Assets: Foreign exchange contracts (1) $ — $ 23 $ — $ 23 Money market investments related to deferred compensation plan 37 — — 37 Total Assets at fair value $ 37 $ 23 $ — $ 60 Liabilities: Forward interest rate swap contracts (2) $ — $ 16 $ — $ 16 Liabilities related to the deferred compensation plan 37 — — 37 Total Liabilities at fair value $ 37 $ 16 $ — $ 53 (1) The fair value of the foreign exchange contracts is calculated as follows: • Fair value of regular forward contracts associated with forecasted sales hedges is calculated using the period-end exchange rate adjusted for current forward points. • Fair value of hedges against net assets is calculated at the period-end exchange rate adjusted for current forward points unless the hedge has been traded but not settled at year end (Level 2). If this is the case, the fair value is calculated at the rate at which the hedge is being settled (Level 1).

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jul. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities	The following table presents the fair value of its derivative instruments (in millions): Asset (Liability) Fair Values as of Balance Sheet Classification July 2, December 31, Derivative instruments designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 37 $ 23 Total derivative instruments designated as hedges $ 37 $ 23 Derivative instruments not designated as hedges: Foreign exchange contracts Prepaid expenses and other current assets $ 3 $ — Forward interest rate swaps Prepaid expenses and other current assets 8 — Forward interest rate swaps Other long-term assets 28 — Forward interest rate swaps Accrued liabilities — (15) Forward interest rate swaps Other long-term liabilities — (1) Total derivative instruments not designated as hedges $ 39 $ (16) Total net derivative asset $ 76 $ 7
Schedule of Net Gains (Losses) from Changes in Fair Values of Derivatives Not Designated as Hedges	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 Six Months Ended Statements of Operations Classification July 2, July 3, July 2, July 3, Derivative instruments not designated as hedges: Foreign exchange contracts Foreign exchange (loss) gain $ 9 $ (6) $ 8 $ — Forward interest rate swaps Interest (expense) income, net 11 (3) 45 5 Total gain (loss) recognized in income $ 20 $ (9) $ 53 $ 5
Schedule of Notional Value and Net Fair Value of Outstanding Contracts	The notional values and the net fair values of these outstanding contracts were as follows (in millions): July 2, December 31, Notional balance of outstanding contracts: British Pound/U.S. Dollar £ 21 £ 13 Euro/U.S. Dollar € 123 € 142 Euro/Czech Koruna € 16 € 16 Singapore Dollar/U.S. Dollar S$ 12 S$ 16 Mexican Peso/U.S. Dollar Mex$ 113 Mex$ 64 Polish Zloty/U.S. Dollar zł 14 zł 103 Net fair value of assets of outstanding contracts $ 3 $ —

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jul. 02, 2022
Debt Disclosure [Abstract]
Summary of Carrying Value of Long-term Debt	The following table shows the carrying value of the Company’s debt (in millions): July 2, December 31, Term Loan A $ 1,750 $ 888 Revolving Credit Facility 235 — Receivables Financing Facilities 186 108 Total debt $ 2,171 $ 996 Less: Debt issuance costs (5) (3) Less: Unamortized discounts (5) (2) Less: Current portion of debt (144) (69) Total long-term debt $ 2,017 $ 922
Schedule of Future Maturities of Long-term Debt	As of July 2, 2022, the future maturities of debt are as follows (in millions): 2022 (remaining 6 months) $ 122 2023 44 2024 129 2025 66 2026 88 Thereafter 1,722 Total future debt maturities $ 2,171

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 02, 2022
Leases [Abstract]
Future Minimum Lease Payments Under Non-cancellable Operating Leases	Future minimum lease payments under non-cancellable leases as of July 2, 2022 were as follows (in millions): 2022 (remaining 6 months) $ 24 2023 44 2024 42 2025 30 2026 25 Thereafter 67 Total future minimum lease payments $ 232 Less: Interest (38) Present value of lease liabilities $ 194 Reported as of July 2, 2022: Current portion of lease liabilities $ 39 Long-term lease liabilities 155 Present value of lease liabilities $ 194

Accrued Liabilities, Commitme_2

Accrued Liabilities, Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Components of Accrued Liabilities	The components of Accrued liabilities are as follows (in millions): July 2, December 31, Settlement and related costs $ 185 $ — Payroll and benefits 116 96 Incentive compensation 64 155 Warranty 26 26 Customer rebates 49 51 Leases 39 33 Unremitted cash collections due to banks on factored accounts receivable 113 141 Short-term interest rate swaps — 15 Freight and duty 45 45 Other 77 77 Accrued liabilities $ 714 $ 639
Schedule of Accrued Warranty Obligations	The following table is a summary of the Company’s accrued warranty obligations (in millions): Six Months Ended July 2, July 3, Balance at the beginning of the period $ 26 $ 24 Warranty expense 15 16 Warranties fulfilled (15) (15) Balance at the end of the period $ 26 $ 25

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jul. 02, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Expense and Related Income Tax benefit	The compensation expense from the Company’s share-based compensation plans and associated income tax benefit, excluding the effects of excess tax benefits or shortfalls, were included in the Consolidated Statements of Operations as follows (in millions): Three Months Ended Six Months Ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Cost of sales $ 1 $ 2 $ 2 $ 4 Selling and marketing 6 7 10 13 Research and development 10 8 16 14 General and administration 10 10 16 17 Total compensation expense $ 27 $ 27 $ 44 $ 48 Income tax benefit $ 5 $ 4 $ 8 $ 7
Summary of Restricted and Performance Stock-settled Awards	A summary of the Company’s restricted and performance stock-settled awards for the six months ended July 2, 2022 is as follows: RSUs PSUs RSAs PSAs Units Weighted-Average Grant Date Fair Value Units Weighted-Average Grant Date Fair Value Shares Weighted-Average Shares Weighted-Average Grant Date Fair Value Outstanding at beginning of period 130,009 $ 518.80 37,691 $ 482.42 154,322 $ 253.54 74,032 $ 225.34 Granted 164,592 366.72 69,553 367.87 5,960 321.34 — — Released (27,961) 492.78 (226) 482.42 (90,499) 233.33 (37,617) 205.54 Forfeited (8,636) 512.86 (402) 482.42 (6,650) 253.00 (115) 244.62 Outstanding at end of period 258,004 $ 424.54 106,616 $ 407.69 63,133 $ 288.01 36,300 $ 245.80
Summary of SARs Activity	A summary of the Company’s SARs for the six months ended July 2, 2022 is as follows: SARs SARs Weighted-Average Exercise Price Outstanding at beginning of period 474,151 $ 121.05 Granted — — Exercised (16,533) 70.19 Forfeited (953) 226.71 Expired — — Outstanding at end of period 456,665 $ 122.67 Exercisable at end of period 410,816 $ 109.36
Summary of SARs Outstanding	The following table summarizes information about SARs outstanding as of July 2, 2022: Outstanding Exercisable Aggregate intrinsic value (in millions) $ 81 $ 78 Weighted-average remaining contractual life (in years) 3.1 3.0

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	6 Months Ended
	Jul. 02, 2022
Earnings Per Share [Abstract]
Schedule of Computation of (Loss) Earnings Per Share	(Loss) earnings per share (in millions, except share data): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Basic: Net (loss) income $ (98) $ 219 $ 107 $ 447 Weighted-average shares outstanding (1) 52,138,470 53,449,143 52,642,348 53,460,495 Basic (loss) earnings per share $ (1.87) $ 4.10 $ 2.04 $ 8.36 Diluted: Net (loss) income $ (98) $ 219 $ 107 $ 447 Weighted-average shares outstanding (1) 52,138,470 53,449,143 52,642,348 53,460,495 Dilutive shares (2) — 459,152 391,381 469,608 Diluted weighted-average shares outstanding 52,138,470 53,908,295 53,033,729 53,930,103 Diluted (loss) earnings per share $ (1.87) $ 4.07 $ 2.02 $ 8.29 (1) In periods of a net loss, restricted stock and performance share awards, which are participating securities, are excluded from weighted-average shares outstanding. (2) In periods of net loss, all unvested share-based awards were anti-dilutive and therefore excluded from diluted shares.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jul. 02, 2022
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of AOCI for the six months ended July 2, 2022 and July 3, 2021 are as follows (in millions): Unrealized gain (loss) on sales hedging Foreign currency translation adjustments Total Balance at December 31, 2020 $ (28) $ (41) $ (69) Other comprehensive income (loss) before reclassifications 23 (3) 20 Amounts reclassified from AOCI (1) 20 — 20 Tax effect (9) — (9) Other comprehensive income (loss), net of tax 34 (3) 31 Balance at July 3, 2021 $ 6 $ (44) $ (38) Balance at December 31, 2021 $ 18 $ (47) $ (29) Other comprehensive income (loss) before reclassifications 57 (11) 46 Amounts reclassified from AOCI (1) (43) — (43) Tax effect (2) — (2) Other comprehensive income (loss), net of tax 12 (11) 1 Balance at July 2, 2022 $ 30 $ (58) $ (28) (1) See Note 9, Derivative Instruments

Segment Information & Geograp_2

Segment Information & Geographic Data (Tables)	6 Months Ended
	Jul. 02, 2022
Segment Reporting [Abstract]
Schedule of Financial Information by Segments	Financial information by segment is presented as follows (in millions): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, Net sales: AIT $ 446 $ 414 $ 840 $ 843 EVM 1,022 966 2,060 1,887 Total segment Net sales 1,468 1,380 2,900 2,730 Corporate, eliminations (1) — (3) — (6) Total Net sales $ 1,468 $ 1,377 $ 2,900 $ 2,724 Operating income: AIT (2) $ 97 $ 100 $ 157 $ 211 EVM (2) 181 180 370 371 Total segment operating income 278 280 527 582 Corporate eliminations (1) (423) (33) (460) (63) Total Operating (loss) income $ (145) $ 247 $ 67 $ 519 (1) To the extent applicable, amounts included in Corporate eliminations consist of business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, impairment of goodwill and other intangibles, exit and restructuring costs, as well as certain other non-recurring costs (such as the Settlement and related costs in the current year). (2) AIT and EVM segment operating income includes depreciation and share-based compensation expense. The amounts of depreciation and share-based compensation expense attributable to AIT and EVM are proportionate to each segment’s Net sales.
Schedule of Net Sales to Customers by Geographic Region	Geographic data for Net sales is as follows (in millions): Three Months Ended Six Months Ended July 2, July 3, July 2, July 3, North America $ 714 $ 707 $ 1,413 $ 1,380 EMEA 521 464 1,021 954 Asia-Pacific 152 137 301 257 Latin America 81 69 165 133 Total Net sales $ 1,468 $ 1,377 $ 2,900 $ 2,724

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue By Product Category And Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Disaggregation of Revenue [Line Items]
Total Net sales	$ 1,468	$ 1,377	$ 2,900	$ 2,724
Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	1,259	1,192	2,466	2,345
Services and software
Disaggregation of Revenue [Line Items]
Total Net sales	209	185	434	379
AIT
Disaggregation of Revenue [Line Items]
Total Net sales	446	414	840	843
AIT | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	422	390	792	797
AIT | Services and software
Disaggregation of Revenue [Line Items]
Total Net sales	24	24	48	46
EVM
Disaggregation of Revenue [Line Items]
Total Net sales	1,022	966	2,060	1,887
EVM | Tangible Products
Disaggregation of Revenue [Line Items]
Total Net sales	837	802	1,674	1,548
EVM | Services and software
Disaggregation of Revenue [Line Items]
Total Net sales	185	164	386	339
Corporate, eliminations
Disaggregation of Revenue [Line Items]
Total Net sales	0	(3)	0	(6)
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	$ (3)	$ 0	$ (6)

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized contract, impairment loss			$ 0	$ 0
Deferred revenue	$ 731,000,000		731,000,000		$ 695,000,000
Revenue recognized which was previously included in deferred revenue	108,000,000	$ 75,000,000	237,000,000	$ 185,000,000
Prepaid expenses and other current assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets	12,000,000		12,000,000		10,000,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation					$ 1,033,000,000
Remaining performance obligation, expected recognition period					2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,055,000,000		$ 1,055,000,000
Remaining performance obligation, expected recognition period	2 years		2 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 275	$ 196
Work in process	3	3
Finished goods	354	292
Total Inventories, net	$ 632	$ 491

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended			6 Months Ended
	Jun. 03, 2022	Oct. 01, 2022	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Business Acquisition [Line Items]
Cash purchase consideration					$ 875	$ 17
Future service period					3 years
Acquisition and integration costs			$ 14	$ 4	$ 18	$ 5
Matrox Imaging
Business Acquisition [Line Items]
Purchase price	$ 878
Cash purchase consideration	$ 875
Acquisition and integration costs			$ 14
Matrox Imaging | Restricted Stock Units (RSUs) [Member]
Business Acquisition [Line Items]
Granted (in shares)	13
Future service period	3 years
Matrox Imaging | Forecast
Business Acquisition [Line Items]
Cash acquired		$ 3

Business Acquisitions - Prelimi

Business Acquisitions - Preliminary Purchase Price Allocation To Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jun. 03, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill on acquisition	$ 3,929		$ 3,265
Matrox Imaging
Business Acquisition [Line Items]
Identifiable intangible assets		$ 257
Inventory		33
Other assets acquired		13
Deferred tax liabilities		(68)
Other liabilities assumed		(21)
Net assets acquired		214
Goodwill on acquisition		664
Total purchase price		$ 878

Business Acquisitions - Preli_2

Business Acquisitions - Preliminary Purchase Price Allocation To Identifiable Intangible Assets (Details) - Matrox Imaging $ in Millions	Jun. 03, 2022 USD ($)
Asset Acquisition [Line Items]
Fair Value	$ 257
Customer and other relationships
Asset Acquisition [Line Items]
Fair Value	$ 196
Useful Life (in years)	11 years
Technology and patents
Asset Acquisition [Line Items]
Fair Value	$ 59
Useful Life (in years)	7 years
Trade names
Asset Acquisition [Line Items]
Fair Value	$ 2
Useful Life (in years)	2 years

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Changes in Net Carrying Value of Goodwill (Detail) $ in Millions	6 Months Ended
	Jul. 02, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,265
Matrox acquisition	664
Ending balance	3,929
AIT
Goodwill [Roll Forward]
Beginning balance	169
Matrox acquisition	0
Ending balance	169
EVM
Goodwill [Roll Forward]
Beginning balance	3,096
Matrox acquisition	664
Ending balance	$ 3,760

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Amortized Intangible Assets (Detail) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,840	$ 1,584
Accumulated Amortization	(1,181)	(1,115)
Total	659	469
Technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	948	889
Accumulated Amortization	(592)	(566)
Total	356	323
Customer and other relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	826	631
Accumulated Amortization	(541)	(503)
Total	285	128
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	66	64
Accumulated Amortization	(48)	(46)
Total	$ 18	$ 18

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 35	$ 26	$ 68	$ 52

Goodwill and Other Intangible_5

Goodwill and Other Intangibles - Estimated Future Intangible Asset Amortization Expense (Detail) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining 6 months)	$ 66
2023	99
2024	94
2025	93
2026	89
Thereafter	218
Total	$ 659	$ 469

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Equity securities held	$ 107,000,000		$ 107,000,000		$ 101,000,000
Purchases of long-term investments	1,000,000	$ 4,000,000	6,000,000	$ 17,000,000
Gain on investments	$ 0	$ (1,000,000)	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Carried at Fair Value (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Assets:
Total Assets at fair value	$ 109	$ 60
Liabilities:
Total Liabilities at fair value	33	53
Level 1
Assets:
Total Assets at fair value	36	37
Liabilities:
Total Liabilities at fair value	33	37
Level 2
Assets:
Total Assets at fair value	73	23
Liabilities:
Total Liabilities at fair value	0	16
Level 3
Assets:
Total Assets at fair value	0	0
Liabilities:
Total Liabilities at fair value	0	0
Foreign exchange contracts
Assets:
Derivative assets	40	23
Foreign exchange contracts | Level 1
Assets:
Derivative assets	3	0
Foreign exchange contracts | Level 2
Assets:
Derivative assets	37	23
Foreign exchange contracts | Level 3
Assets:
Derivative assets	0	0
Forward interest rate swaps
Assets:
Derivative assets	36
Liabilities:
Derivative liabilities		16
Forward interest rate swaps | Level 1
Assets:
Derivative assets	0
Liabilities:
Derivative liabilities		0
Forward interest rate swaps | Level 2
Assets:
Derivative assets	36
Liabilities:
Derivative liabilities		16
Forward interest rate swaps | Level 3
Assets:
Derivative assets	0
Liabilities:
Derivative liabilities		0
Money market investments related to deferred compensation plan
Assets:
Money market investments related to deferred compensation plan	33	37
Money market investments related to deferred compensation plan | Level 1
Assets:
Money market investments related to deferred compensation plan	33	37
Money market investments related to deferred compensation plan | Level 2
Assets:
Money market investments related to deferred compensation plan	0	0
Money market investments related to deferred compensation plan | Level 3
Assets:
Money market investments related to deferred compensation plan	0	0
Liabilities related to the deferred compensation plan
Liabilities:
Liabilities related to the deferred compensation plan	33	37
Liabilities related to the deferred compensation plan | Level 1
Liabilities:
Liabilities related to the deferred compensation plan	33	37
Liabilities related to the deferred compensation plan | Level 2
Liabilities:
Liabilities related to the deferred compensation plan	0	0
Liabilities related to the deferred compensation plan | Level 3
Liabilities:
Liabilities related to the deferred compensation plan	$ 0	$ 0

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Derivative [Line Items]
Total net derivative asset	$ 76	$ 7
Derivative instruments designated as hedges
Derivative [Line Items]
Total net derivative asset	37	23
Derivative instruments designated as hedges | Prepaid expenses and other current assets | Foreign exchange contracts
Derivative [Line Items]
Total Assets at fair value	37	23
Derivative instruments not designated as hedges
Derivative [Line Items]
Total net derivative asset	39	(16)
Derivative instruments not designated as hedges | Prepaid expenses and other current assets | Foreign exchange contracts
Derivative [Line Items]
Total Assets at fair value	3	0
Derivative instruments not designated as hedges | Prepaid expenses and other current assets | Forward interest rate swaps
Derivative [Line Items]
Total Assets at fair value	8	0
Derivative instruments not designated as hedges | Other long-term liabilities | Forward interest rate swaps
Derivative [Line Items]
Total Assets at fair value	28	0
Total Liabilities at fair value	0	(1)
Derivative instruments not designated as hedges | Accrued liabilities | Forward interest rate swaps
Derivative [Line Items]
Total Liabilities at fair value	$ 0	$ (15)

Derivative Instruments - Net Ga

Derivative Instruments - Net Gains (Losses) from Changes in Fair Value (Details) - Derivative instruments not designated as hedges - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized in income	$ 20	$ (9)	$ 53	$ 5
Foreign exchange contracts | Foreign exchange (loss) gain
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized in income	9	(6)	8	0
Forward interest rate swaps | Interest (expense) income, net
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) recognized in income	$ 11	$ (3)	$ 45	$ 5

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) € in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022 USD ($) derivative	Jul. 03, 2021 USD ($)	Jul. 02, 2022 USD ($) derivative	Jul. 03, 2021 USD ($)	Jul. 02, 2022 EUR (€) derivative	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2017 USD ($)
Change in unrealized gain (loss) on anticipated sales hedging:
Increase for gross asset and liability presentation						$ 1,000,000
Derivative instruments not designated as hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Gain (loss) on contract	$ 20,000,000	$ (9,000,000)	$ 53,000,000	$ 5,000,000
Foreign currency exchange forward | Derivative instruments designated as hedges | Cash flow hedges
Change in unrealized gain (loss) on anticipated sales hedging:
Maturity period			12 months
Derivative forward long-term interest rate swap | €					€ 459		€ 675
Foreign currency exchange forward | Derivative instruments designated as hedges | Cash flow hedges | Net sales
Change in unrealized gain (loss) on anticipated sales hedging:
Gain (loss) on contract	$ 27,000,000	$ (8,000,000)	$ 43,000,000	$ (20,000,000)
Foreign currency 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:
Number of agreements | derivative	1		1		1
Derivative forward long-term interest rate swap	$ 800,000,000		$ 800,000,000					$ 800,000,000

Derivative Instruments - Notion

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

Jul. 02, 2022 GBP (£)

Jul. 02, 2022 EUR (€)

Jul. 02, 2022 SGD ($)

Jul. 02, 2022 MXN ($)

Jul. 02, 2022 PLN (zł)

Jul. 02, 2022 USD ($)

Dec. 31, 2021 GBP (£)

Dec. 31, 2021 EUR (€)

Dec. 31, 2021 SGD ($)

Dec. 31, 2021 MXN ($)

Dec. 31, 2021 PLN (zł)

Dec. 31, 2021 USD ($)

U.S. dollar

Derivative [Line Items]

Notional balance of outstanding contracts

£ 21

€ 123

$ 12

$ 113

zł 14

£ 13

€ 142

$ 16

$ 64

zł 103

Net fair value of assets of outstanding contracts | $

$ 3

$ 0

Czech Republic, Koruny

Derivative [Line Items]

Notional balance of outstanding contracts | €

€ 16

€ 16

Long-Term Debt - Carrying Value

Long-Term Debt - Carrying Value of Debt (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 2,171	$ 996
Less: Debt issuance costs	(5)	(3)
Less: Unamortized discounts	(5)	(2)
Less: Current portion of debt	(144)	(69)
Total long-term debt	2,017	922
Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	235	0
Term Loan A | Loans Payable
Debt Instrument [Line Items]
Total debt	1,750	888
Receivables Financing Facilities | Secured Debt
Debt Instrument [Line Items]
Total debt	$ 186	$ 108

Long-Term Debt - Future Maturit

Long-Term Debt - Future Maturities of Long-Term Debt (Details) $ in Millions	Jul. 02, 2022 USD ($)
Debt Disclosure [Abstract]
2022 (remaining 6 months)	$ 122
2023	44
2024	129
2025	66
2026	88
Thereafter	1,722
Total future debt maturities	$ 2,171

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)	Jul. 02, 2022	May 31, 2022	Apr. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Estimated fair value debt	$ 2,100,000,000			$ 1,000,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Total borrowing limits (up to)	$ 1,500,000,000
Term Loan A Amendment No 3 | Loans Payable
Debt Instrument [Line Items]
Total borrowing limits (up to)		$ 1,750,000,000	$ 875,000,000
Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Total borrowing limits (up to)		1,500,000,000	$ 1,000,000,000
One-time charges		2,000,000
Debt issuance costs		$ 6,000,000

Long-Term Debt - Term Loan A (D

Long-Term Debt - Term Loan A (Details)	Jul. 02, 2022
Loans Payable | Term Loan A
Debt Instrument [Line Items]
Percentage bearing variable interest, percentage rate	3.10%

Long-Term Debt - Revolving Cred

Long-Term Debt - Revolving Credit Facility (Details) - Revolving Credit Facility	Jul. 02, 2022 USD ($)
Line of Credit Facility [Line Items]
Letters of credit	$ 7,000,000
Maximum borrowing capacity	1,500,000,000
Funds available for other borrowing	$ 1,493,000,000
Average interest rate	2.57%

Long-Term Debt - Receivable Fin

Long-Term Debt - Receivable Financing Facility (Details) - Secured Debt	Jul. 02, 2022 USD ($) facility
Receivables Financing Facilities
Line of Credit Facility [Line Items]
Number of receivable financing facilities | facility	2
Total borrowing limits (up to)	$ 280,000,000
Accounts receivable pledged	763,000,000
Outstanding borrowings	186,000,000
Line of credit, current	$ 100,000,000
Revolving credit facility interest rate	2.57%
First Receivables Financing Facility
Line of Credit Facility [Line Items]
Total borrowing limits (up to)	$ 180,000,000
Second Receivables Financing Facility
Line of Credit Facility [Line Items]
Total borrowing limits (up to)	$ 100,000,000

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	3 Months Ended
	Jul. 02, 2022 USD ($)
Leases [Abstract]
ROU assets obtained in exchange for lease obligations	$ 54

Leases - Future Minimum lease P

Leases - Future Minimum lease Payments Under Non-cancellable Leases (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021
Leases [Abstract]
2022 (remaining 6 months)	$ 24
2023	44
2024	42
2025	30
2026	25
Thereafter	67
Total future minimum lease payments	232
Less: Interest	(38)
Present value of lease liabilities	194
Leases	39	$ 33
Long-term lease liabilities	155	$ 121
Present value of lease liabilities	$ 194

Accrued Liabilities, Commitme_3

Accrued Liabilities, Commitments and Contingencies - Schedule of Components of Accrued Liabilities (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 31, 2021	Jul. 03, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Settlement and related costs	$ 185	$ 0
Payroll and benefits	116	96
Incentive compensation	64	155
Warranty	26	26	$ 25	$ 24
Customer rebates	49	51
Leases	39	33
Unremitted cash collections due to banks on factored accounts receivable	113	141
Freight and duty	45	45
Other	77	77
Accrued liabilities	$ 714	$ 639
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Forward interest rate swaps
Loss Contingencies [Line Items]
Short-term interest rate swaps	$ 0	$ 15

Accrued Liabilities, Commitme_4

Accrued Liabilities, Commitments and Contingencies - Schedule of Accrued Warranty Obligations (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 26	$ 24
Warranty expense	15	16
Warranties fulfilled	(15)	(15)
Balance at the end of the period	$ 26	$ 25

Accrued Liabilities, Commitme_5

Accrued Liabilities, Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022 USD ($) payment	Jul. 03, 2021 USD ($)	Jul. 02, 2022 USD ($)	Jul. 03, 2021 USD ($)
Loss Contingencies [Line Items]
Settlement and related costs	$ 372	$ 0	$ 372	$ 0
Settlement
Loss Contingencies [Line Items]
Agreed payment	360
Settlement and related costs	360
External legal fees	12
Quarterly payment	$ 45
Number of quarterly payments | payment	8

Share-Based Compensation - Narr

Share-Based Compensation - Narratives (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Jun. 03, 2022	Jul. 02, 2022	Jul. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unearned compensation costs related to performance share awards		$ 149
Total unearned compensation costs amortization period		1 year 7 months 6 days
Future service period		3 years
Vesting period		3 years
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant		0
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant		2,878,812
PSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future service period		3 years
Granted (in shares)		0
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future service period		3 years
Granted (in shares)		5,960
Common Class A | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		5,686	2,877
Reflexis Replacement Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of exercised options		$ 2	$ 2
Fair value of SARs vested in period		$ 1	3
Outstanding at option of period (in shares)		19,540
Exercisable at end of period (in shares)		17,132
Outstanding period (USD per share)		$ 57.69
Weighted-average remaining contractual life - outstanding		5 years 10 months 24 days
Exercisable at end of period (usd per share)		$ 55.47
Weighted-average remaining contractual life - exercisable		5 years 8 months 12 days
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of exercised options		$ 6	38
Fair value of SARs vested in period		$ 3	$ 5
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		164,592
Restricted Stock Units (RSUs) [Member] | Matrox Imaging
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future service period	3 years

Share-Based Compensation - Comp

Share-Based Compensation - Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 27	$ 27	$ 44	$ 48
Income tax benefit	5	4	8	7
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	1	2	2	4
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	6	7	10	13
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	10	8	16	14
General and administration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 10	$ 10	$ 16	$ 17

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted and Performance Stock-settled Awards (Details)	6 Months Ended
	Jul. 02, 2022 $ / shares shares
RSUs
Units
Outstanding at beginning of period (in shares) | shares	130,009
Granted (in shares) | shares	164,592
Released (in shares) | shares	(27,961)
Forfeited (in shares) | shares	(8,636)
Outstanding at end of period (in shares) | shares	258,004
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 518.80
Granted (USD per share) | $ / shares	366.72
Vested (USD per share) | $ / shares	492.78
Forfeited (USD per share) | $ / shares	512.86
Outstanding at end of year (USD per share) | $ / shares	$ 424.54
PSUs
Units
Outstanding at beginning of period (in shares) | shares	37,691
Granted (in shares) | shares	69,553
Released (in shares) | shares	(226)
Forfeited (in shares) | shares	(402)
Outstanding at end of period (in shares) | shares	106,616
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 482.42
Granted (USD per share) | $ / shares	367.87
Vested (USD per share) | $ / shares	482.42
Forfeited (USD per share) | $ / shares	482.42
Outstanding at end of year (USD per share) | $ / shares	$ 407.69
RSAs
Units
Outstanding at beginning of period (in shares) | shares	154,322
Granted (in shares) | shares	5,960
Released (in shares) | shares	(90,499)
Forfeited (in shares) | shares	(6,650)
Outstanding at end of period (in shares) | shares	63,133
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 253.54
Granted (USD per share) | $ / shares	321.34
Vested (USD per share) | $ / shares	233.33
Forfeited (USD per share) | $ / shares	253
Outstanding at end of year (USD per share) | $ / shares	$ 288.01
PSAs
Units
Outstanding at beginning of period (in shares) | shares	74,032
Granted (in shares) | shares	0
Released (in shares) | shares	(37,617)
Forfeited (in shares) | shares	(115)
Outstanding at end of period (in shares) | shares	36,300
Weighted-Average Grant Date Fair Value
Outstanding at beginning of year (USD per share) | $ / shares	$ 225.34
Granted (USD per share) | $ / shares	0
Vested (USD per share) | $ / shares	205.54
Forfeited (USD per share) | $ / shares	244.62
Outstanding at end of year (USD per share) | $ / shares	$ 245.80

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of SARs Activity (Details) - SARs	6 Months Ended
	Jul. 02, 2022 $ / shares shares
SARs
Outstanding at beginning of period (in shares) | shares	474,151
Granted (in shares) | shares	0
Exercised (in shares) | shares	(16,533)
Forfeited (in shares) | shares	(953)
Expired (in shares) | shares	0
Outstanding at end of period (in shares) | shares	456,665
Exercisable at end of period (in shares) | shares	410,816
Weighted-Average Exercise Price
Outstanding at beginning of period (USD per share) | $ / shares	$ 121.05
Granted (USD per share) | $ / shares	0
Exercised (USD per share) | $ / shares	70.19
Forfeited (USD per share) | $ / shares	226.71
Expired (USD per share) | $ / shares	0
Outstanding at end of period (USD per share) | $ / shares	122.67
Exercisable at end of period (USD per share) | $ / shares	$ 109.36

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of SARs Outstanding (Details) - SARs $ in Millions	6 Months Ended
	Jul. 02, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Aggregate intrinsic value (in millions)	$ 81
Outstanding, Weighted-average remaining contractual life	3 years 1 month 6 days
Exercisable, Aggregate intrinsic value (in millions)	$ 78
Exercisable, Weighted-average remaining contractual life	3 years

Share-Based Compensation - Cash

Share-Based Compensation - Cash-settled Awards (Details) - USD ($) $ in Millions		6 Months Ended
	Jun. 03, 2022	Jul. 02, 2022	Jul. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (up to)		3 years
Future service period		3 years
Cash-settled Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (up to)		3 years
Settlement payments for awards		$ 4	$ 9
Number of shares authorized (in shares)		64,056	9,262
Restricted Stock Units (RSUs) [Member] | Matrox Imaging
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	13,000,000
Future service period	3 years

Share-Based Compensation - Empl

Share-Based Compensation - Employee Stock Purchase Plan (Details) - 2020 ESPP - Employee Stock	6 Months Ended
	Jul. 02, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price per share fair market value percentage	95%
Number of shares authorized (in shares)	1,500,000
Number of shares available for grant (in shares)	1,421,112

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Income Tax Disclosure [Abstract]
Effective tax rates	35.90%	(10.30%)	8%	13%

(Loss) Earnings Per Share - Com

(Loss) Earnings Per Share - Computation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jul. 02, 2022	Apr. 02, 2022	Jul. 03, 2021	Apr. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Basic:
Net (loss) income	$ (98)	$ 205	$ 219	$ 228	$ 107	$ 447
Weighted-average shares outstanding (in shares)	52,138,470		53,449,143		52,642,348	53,460,495
Basic (loss) earnings per share (in USD per share)	$ (1.87)		$ 4.10		$ 2.04	$ 8.36
Diluted:
Net (loss) income	$ (98)	$ 205	$ 219	$ 228	$ 107	$ 447
Weighted-average shares outstanding (in shares)	52,138,470		53,449,143		52,642,348	53,460,495
Dilutive shares (in shares)	0		459,152		391,381	469,608
Diluted weighted-average shares outstanding (in shares)	52,138,470		53,908,295		53,033,729	53,930,103
Diluted (loss) earnings per share (in USD per share)	$ (1.87)		$ 4.07		$ 2.02	$ 8.29

(Loss) Earnings Per Share - Add

(Loss) Earnings Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares (in shares)	630,182	0	335,476	0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
AOCI Attributable to Parent, Net of Tax
Beginning balance	$ 2,984	$ 2,144
Other comprehensive income (loss) before reclassifications	46	20
Amounts reclassified from AOCI	(43)	20
Tax effect	(2)	(9)
Other comprehensive income (loss), net of tax	1	31
Ending balance	2,513	2,589
Unrealized gain (loss) on sales hedging
AOCI Attributable to Parent, Net of Tax
Beginning balance	18	(28)
Other comprehensive income (loss) before reclassifications	57	23
Amounts reclassified from AOCI	(43)	20
Tax effect	(2)	(9)
Other comprehensive income (loss), net of tax	12	34
Ending balance	30	6
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(47)	(41)
Other comprehensive income (loss) before reclassifications	(11)	(3)
Amounts reclassified from AOCI	0	0
Tax effect	0	0
Other comprehensive income (loss), net of tax	(11)	(3)
Ending balance	(58)	(44)
Total
AOCI Attributable to Parent, Net of Tax
Beginning balance	(29)	(69)
Ending balance	$ (28)	$ (38)

Accounts Receivable Factoring (

Accounts Receivable Factoring (Details) € in Millions, $ in Millions	6 Months Ended
	Jul. 02, 2022 USD ($) agreement	Jul. 03, 2021 USD ($)	Jul. 02, 2022 EUR (€) agreement	Dec. 31, 2021 USD ($)
Transfer of Financial Assets Accounted for as Sales [Line Items]
Remaining active agreements | agreement	2		2
Proceeds from sale of accounts receivables	$ 765	$ 814
Uncollected receivables sold and removed from the balance sheet	64			$ 24
Unremitted cash collections due to banks on factored accounts receivable	113			141
Prepaid expenses and other current assets
Transfer of Financial Assets Accounted for as Sales [Line Items]
Deposits	$ 0			$ 12
EMEA
Transfer of Financial Assets Accounted for as Sales [Line Items]
Eligible uncollected receivables available (up to) | €			€ 25
EMEA And Asia Pacific
Transfer of Financial Assets Accounted for as Sales [Line Items]
Eligible uncollected receivables available (up to) | €			€ 150

Segment Information & Geograp_3

Segment Information & Geographic Data - Additional Information (Details)	6 Months Ended
	Jul. 02, 2022 segment
Segment Reporting [Abstract]
Reportable segments	2

Segment Information & Geograp_4

Segment Information & Geographic Data - Financial Information by Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Net sales:
Total Net sales	$ 1,468	$ 1,377	$ 2,900	$ 2,724
Operating income:
Operating (loss) income	(145)	247	67	519
AIT
Net sales:
Total Net sales	446	414	840	843
EVM
Net sales:
Total Net sales	1,022	966	2,060	1,887
Operating segments
Net sales:
Total Net sales	1,468	1,380	2,900	2,730
Operating income:
Operating (loss) income	278	280	527	582
Operating segments | AIT
Net sales:
Total Net sales	446	414	840	843
Operating income:
Operating (loss) income	97	100	157	211
Operating segments | EVM
Net sales:
Total Net sales	1,022	966	2,060	1,887
Operating income:
Operating (loss) income	181	180	370	371
Corporate eliminations
Net sales:
Total Net sales	0	(3)	0	(6)
Operating income:
Operating (loss) income	$ (423)	$ (33)	$ (460)	$ (63)

Segment Information & Geograp_5

Segment Information & Geographic Data - Net Sales to Customers by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Segment Reporting Information [Line Items]
Total Net sales	$ 1,468	$ 1,377	$ 2,900	$ 2,724
North America
Segment Reporting Information [Line Items]
Total Net sales	714	707	1,413	1,380
EMEA
Segment Reporting Information [Line Items]
Total Net sales	521	464	1,021	954
Asia-Pacific
Segment Reporting Information [Line Items]
Total Net sales	152	137	301	257
Latin America
Segment Reporting Information [Line Items]
Total Net sales	$ 81	$ 69	$ 165	$ 133