TRIMBLE INC., 10-K/A filed on 1/16/2025
Amended Annual Report
v3.24.4
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 29, 2023
Feb. 20, 2024
Jun. 30, 2023
Cover [Abstract]      
Document Type 10-K/A    
Document Annual Report true    
Document Period End Date Dec. 29, 2023    
Current Fiscal Year End Date --12-29    
Document Transition Report false    
Entity File Number 001-14845    
Entity Registrant Name TRIMBLE INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 94-2802192    
Entity Address, Address Line One 10368 Westmoor Drive    
Entity Address, City or Town Westminster    
Entity Address, State or Province CO    
Entity Address, Postal Zip Code 80021    
City Area Code 720    
Local Phone Number 887-6100    
Title of 12(b) Security Common Stock, $0.001 par value    
Trading Symbol TRMB    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction Flag false    
Entity Shell Company false    
Entity Public Float     $ 13.1
Entity Common Stock, Shares Outstanding   245,687,181  
Amendment Flag true    
Document Fiscal Period Focus 2023    
Document Fiscal Year Focus FY    
Entity Central Index Key 0000864749    
Amendment Description Trimble Inc. (“Trimble” or “the Company” or “we” or “our” or “us”) is filing this Amendment No. 1 on Form 10-K/A (this “Amendment”) to our Annual Report on Form 10-K for the year ended December 29, 2023, which was filed with the Securities and Exchange Commission (the “SEC”) on February 26, 2024 (the “Original Form 10-K”) to make certain changes, as described below.As previously disclosed in Item 8.01 of the Company’s Current Report on Form 8-K filed with the SEC on May 3, 2024, Ernst & Young LLP (“EY”), the Company’s independent registered public accounting firm, informed the Company that in preparing for an upcoming Public Company Accounting Oversight Board (“PCAOB”) inspection, EY had identified concerns regarding the design and execution of certain controls.The Company’s management has determined that additional material weaknesses in its internal control over financial reporting existed that were not previously disclosed in Management’s Annual Report on Internal Control over Financial Reporting in the Original Form 10-K related to certain information technology general controls (“ITGCs”), undue reliance on controls over information technology (“IT”) interfaces, and the evaluation of standalone selling prices of performance obligations utilized in accounting for revenue. As a result, we are (i) including in Part II, Item 8 of this Amendment a revised opinion from EY on our internal control over financial reporting as of December 29, 2023 and (ii) replacing Part II, Item 9A, “Controls and Procedures” in this Amendment to update the conclusions regarding the effectiveness of our internal control over financial reporting as of December 29, 2023. The material weaknesses did not result in any change to the Company’s consolidated financial statements as set forth in the Original Form 10-K.Pursuant to Rule 12b-15 of the Securities Exchange Act of 1934, as amended, this Amendment contains the complete text of Part II, Item 8. “Financial Statements and Supplementary Data”. Part IV, Item 15. “Exhibits and Financial Statement Schedules” has been amended to include (i) current certifications of the Company’s Chief Executive Officer and Chief Financial Officer as required under Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, each dated as of the date of this Amendment, and attached as Exhibits 31.1, 31.2, 32.1, and 32.2, (ii) an updated Consent of Independent Registered Public Accounting Firm, attached as Exhibit 23.1, and (iii) updated inline XBRL exhibits, as applicable.The only changes to the Original Form 10-K are those related to the matters described above. Except as described above, this Amendment does not amend, update, or change (i) the Company’s consolidated financial statements or (ii) any other item or disclosure in the Original Form 10-K and does not purport to reflect any information or event subsequent to the filing. As such, this Amendment speaks only as of the date that the Original Form 10-K was filed, and the Company has not undertaken to amend, update, or change any information contained in the Original Form 10-K to give effect to any subsequent event, other than as expressly indicated in this Amendment. Accordingly, this Amendment should be read in conjunction with the Original Form 10-K and any subsequent filings with the SEC.    
v3.24.4
Audit Information
 12 Months Ended
Dec. 29, 2023
Audit Information [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location San Jose, California
v3.24.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Current assets:    
Cash and cash equivalents $ 229.8 $ 271.0
Accounts receivable, net 706.6 643.3
Inventories 235.7 402.5
Prepaid expenses 89.8 73.7
Other current assets 147.8 127.7
Assets held for sale 421.2 0.0
Total current assets 1,830.9 1,518.2
Property and equipment, net 202.5 219.0
Operating lease right-of-use assets 124.0 121.2
Goodwill 5,350.6 4,137.9
Other purchased intangible assets, net 1,243.5 498.1
Deferred income tax assets 412.3 438.4
Other non-current assets 375.5 336.2
Total assets 9,539.3 7,269.0
Current liabilities:    
Short-term debt 530.4  
Short-term debt   300.0
Accounts payable 165.3 175.5
Accrued compensation and benefits 181.2 159.4
Deferred revenue 663.1 639.1
Income taxes payable 39.7 23.7
Other current liabilities 201.3 164.4
Liabilities held for sale 48.3 0.0
Total current liabilities 1,829.3 1,462.1
Long-term debt 2,536.2 1,220.0
Deferred revenue, non-current 98.3 98.5
Deferred income tax liabilities 287.8 157.8
Operating lease liabilities 121.9 105.1
Other non-current liabilities 165.7 175.3
Total liabilities 5,039.2 3,218.8
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, $0.001 par value; 3.0 shares authorized; none issued and outstanding 0.0 0.0
Common stock, $0.001 par value; 360.0 shares authorized; 246.5 and 246.9 shares issued and outstanding at the end of 2023 and 2022 0.2 0.2
Additional paid-in-capital 2,214.6 2,054.9
Retained earnings 2,437.4 2,230.0
Accumulated other comprehensive loss (152.1) (234.9)
Total stockholders' equity 4,500.1 4,050.2
Total liabilities and stockholders' equity $ 9,539.3 $ 7,269.0
v3.24.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 29, 2023
Dec. 30, 2022
Statement of Financial Position [Abstract]    
Preferred stock, par value per share (in usd per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 3,000,000.0 3,000,000.0
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value per share (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 360,000,000.0 360,000,000.0
Common stock, shares issued (in shares) 246,500,000 246,900,000
Common stock, shares outstanding (in shares) 246,500,000 246,900,000
v3.24.4
Consolidated Statements Of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Revenue:      
Total revenue $ 3,798.7 $ 3,676.3 $ 3,659.1
Cost of sales:      
Amortization of purchased intangible assets 108.7 85.0 87.7
Total cost of sales 1,465.9 1,570.7 1,624.4
Gross margin 2,332.8 2,105.6 2,034.7
Operating expense:      
Research and development 664.3 542.1 536.6
Sales and marketing 583.0 553.6 506.8
General and administrative 487.5 422.2 369.1
Restructuring 45.6 30.2 10.3
Amortization of purchased intangible assets 103.6 46.6 50.9
Total operating expense 1,884.0 1,594.7 1,473.7
Operating income 448.8 510.9 561.0
Non-operating income (expense), net:      
Divestitures gain, net 9.2 99.0 41.4
Interest expense, net (161.0) (71.1) (65.4)
Income from equity method investments, net 28.1 31.1 37.7
Other income (expense), net 31.9 (0.8) (0.1)
Total non-operating income (expense), net (91.8) 58.2 13.6
Income before taxes 357.0 569.1 574.6
Income tax provision 45.7 119.4 81.8
Net income 311.3 449.7 492.8
Net income attributable to noncontrolling interests 0.0 0.0 0.1
Net income attributable to Trimble Inc. $ 311.3 $ 449.7 $ 492.7
Earnings per share:      
Basic (in usd per share) $ 1.26 $ 1.81 $ 1.96
Diluted (in usd per share) $ 1.25 $ 1.80 $ 1.94
Shares used in calculating earnings per share:      
Basic (in shares) 247.9 248.6 251.4
Diluted (in shares) 249.1 250.2 254.3
Product      
Revenue:      
Total revenue $ 1,771.7 $ 1,986.1 $ 2,135.2
Cost of sales:      
Cost of sales 875.0 1,040.8 1,086.4
Subscription and services      
Revenue:      
Total revenue 2,027.0 1,690.2 1,523.9
Cost of sales:      
Cost of sales $ 482.2 $ 444.9 $ 450.3
v3.24.4
Consolidated Statements Of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net income $ 311.3 $ 449.7 $ 492.8
Other comprehensive income (loss), net of tax      
Foreign currency translation adjustments 86.4 (81.6) (64.0)
Net change related to derivatives and other (3.6) 8.4 0.8
Comprehensive income (loss) 394.1 376.5 429.6
Comprehensive income attributable to noncontrolling interests 0.0 0.0 0.1
Comprehensive income attributable to Trimble Inc. $ 394.1 $ 376.5 $ 429.5
v3.24.4
Consolidated Statements Of Stockholders’ Equity - USD ($)
shares in Millions, $ in Millions
Total
Total Stockholders’ Equity
Common stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interest
Beginning balance (in shares) at Jan. 01, 2021     250.8        
Beginning balance at Jan. 01, 2021 $ 3,598.6 $ 3,596.9 $ 0.3 $ 1,801.7 $ 1,893.4 $ (98.5) $ 1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 492.8 492.7     492.7   0.1
Other comprehensive (loss) income (63.2) (63.2)       (63.2)  
Comprehensive income (loss) 429.6 429.5          
Issuance of common stock under employee plans, net of tax withholding (in shares)     2.2        
Issuance of common stock under employee plans, net of tax withholdings (15.1) (15.1)   36.2 (51.3)    
Stock repurchases (in shares)     (2.1)        
Stock repurchases (180.0) (180.0)   (15.7) (164.3)    
Stock-based compensation 112.8 112.8   112.8      
Noncontrolling interest investments (1.2) 0.6   0.6     (1.8)
Ending balance (in shares) at Dec. 31, 2021     250.9        
Ending balance at Dec. 31, 2021 3,944.7 3,944.7 $ 0.3 1,935.6 2,170.5 (161.7) 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 449.7 449.7     449.7    
Other comprehensive (loss) income (73.2) (73.2)       (73.2)  
Comprehensive income (loss) 376.5 376.5          
Issuance of common stock under employee plans, net of tax withholding (in shares)     2.0        
Issuance of common stock under employee plans, net of tax withholdings (13.6) (13.6)   29.6 (43.2)    
Stock repurchases (in shares)     (6.0)        
Stock repurchases (394.7) (394.7) $ (0.1) (47.6) (347.0)    
Stock-based compensation $ 137.3 137.3   137.3      
Ending balance (in shares) at Dec. 30, 2022 246.9   246.9        
Ending balance at Dec. 30, 2022 $ 4,050.2 4,050.2 $ 0.2 2,054.9 2,230.0 (234.9) 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 311.3 311.3     311.3    
Other comprehensive (loss) income 82.8 82.8       82.8  
Comprehensive income (loss) 394.1 394.1          
Issuance of common stock under employee plans, net of tax withholding (in shares)     2.0        
Issuance of common stock under employee plans, net of tax withholdings 6.7 6.7   31.6 (24.9)    
Stock repurchases (in shares)     (2.4)        
Stock repurchases (100.0) (100.0)   (21.0) (79.0)    
Stock-based compensation $ 149.1 149.1   149.1      
Ending balance (in shares) at Dec. 29, 2023 246.5   246.5        
Ending balance at Dec. 29, 2023 $ 4,500.1 $ 4,500.1 $ 0.2 $ 2,214.6 $ 2,437.4 $ (152.1) $ 0.0
v3.24.4
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Cash flow from operating activities:      
Net income $ 311.3 $ 449.7 $ 492.8
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 38.3 40.2 41.3
Amortization expense 212.3 131.6 138.6
Deferred income taxes (104.6) (40.0) (26.9)
Stock-based compensation 145.4 120.4 122.6
Divestitures gain, net (9.2) (99.0) (43.9)
Other, net 11.6 41.7 19.2
(Increase) decrease in assets:      
Accounts receivable, net (36.4) (55.4) (9.0)
Inventories 67.6 (113.5) (72.9)
Other current and non-current assets (67.2) (46.3) (30.2)
Increase (decrease) in liabilities:      
Accounts payable (12.4) (24.8) 60.3
Accrued compensation and benefits 20.8 (54.2) 54.1
Deferred revenue 26.0 108.6 27.4
Income taxes payable (4.0) (38.3) (2.9)
Other current and non-current liabilities (2.4) (29.5) (20.0)
Net cash provided by operating activities 597.1 391.2 750.5
Cash flow from investing activities:      
Acquisitions of businesses, net of cash acquired (2,088.9) (373.5) (236.1)
Purchases of property and equipment (42.0) (43.2) (46.1)
Net proceeds from divestitures 17.0 215.4 67.3
Other, net 45.8 (25.0) 11.4
Net cash used in investing activities (2,068.1) (226.3) (203.5)
Cash flow from financing activities:      
Issuance of common stock, net of tax withholdings 6.7 (13.6) (15.1)
Repurchases of common stock (100.0) (394.7) (180.0)
Proceeds from debt and revolving credit lines 3,847.1 814.8 198.9
Payments on debt and revolving credit lines (2,292.9) (590.2) (449.9)
Other, net (29.4) (15.3) (1.6)
Net cash provided by (used in) financing activities 1,431.5 (199.0) (447.7)
Effect of exchange rate changes on cash and cash equivalents 7.4 (20.6) (11.3)
Net (decrease) increase in cash and cash equivalents (32.1) (54.7) 88.0
Cash and cash equivalents - beginning of period 271.0 [1] 325.7 [1] 237.7
Cash and cash equivalents - end of period [1] 238.9 271.0 325.7
Supplemental cash flow disclosure:      
Cash paid for income taxes, net 168.0 197.3 98.3
Cash paid for interest $ 133.7 $ 73.1 $ 61.8
[1] Includes $9.1 million of cash and cash equivalents classified as held for sale as of December 29, 2023.
v3.24.4
Consolidated Statements Of Cash Flows(Parenthetical)
$ in Millions
Dec. 29, 2023
USD ($)
Held-for-sale | Trimble Ag  
Cash and cash equivalents $ 9.1
v3.24.4
Description Of Business And Accounting Policies
 12 Months Ended
Dec. 29, 2023
Accounting Policies [Abstract]  
Description Of Business And Accounting Policies
NOTE 1: DESCRIPTION OF BUSINESS AND ACCOUNTING POLICIES
Trimble Inc., (“we” or “our” or “us”) is incorporated in the State of Delaware since October 2016.
We are a leading provider of technology solutions that enable professionals and field mobile workers to improve or transform their work processes. We focus on transforming the way the world works by delivering products and services that connect the physical and digital worlds. We generate revenue primarily through the sale of our hardware, software, maintenance and support, professional services, and subscriptions.
Basis of Presentation
These Consolidated Financial Statements include our results of our consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. Noncontrolling interests represent the noncontrolling stockholders’ proportionate share of the net assets and results of operations of our consolidated subsidiaries.
We use a 52–53 week fiscal year ending on the Friday nearest to December 31. Fiscal 2023, 2022, and 2021 were all 52-week years ending on December 29, 2023, December 30, 2022, and December 31, 2021. Unless otherwise stated, all dates refer to our fiscal year and fiscal periods.
Use of Estimates
The preparation of financial statements in accordance with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates and assumptions are used for (i) revenue recognition, including determining the nature and timing of satisfaction of performance obligations and determining standalone selling price (“SSP”) of performance obligations; (ii) inventory valuation; (iii) valuation of long-lived assets and their estimated useful lives; (iv) goodwill and other long-lived asset impairment analyses; (v) stock-based compensation; and (vi) income taxes. We base our estimates on historical experience and various other assumptions we believe to be reasonable. Actual results that we experience may differ materially from our estimates.
Change in Presentation
During the first quarter of 2023, we changed the presentation of revenue and cost of sales in the Consolidated Statements of Income. This change was made to better reflect our Connect and Scale strategy and business model evolution with a continued shift toward a more significant mix of recurring revenues, which includes subscription, maintenance and support, and term licenses. As such, we revised our presentation, including (i) the combination of subscription and services into one line item, and (ii) moving term licenses from product to subscription and services. The subscription and services line item is more aligned with our performance measures, how we manage our business, and is helpful to investors and others to better understand our results.
Previously, we presented revenue and cost of sales on three lines as follows:
•product, which included hardware and software licenses (both perpetual and term licenses);
•service, which included hardware and software maintenance and support and professional services;
•subscription, which included SaaS, data, and hosting services.
The revised categories are as follows:
•product, which includes hardware and perpetual software licenses;
•subscription and services, which includes SaaS, data, and hosting services, as well as term licenses, hardware and software maintenance and support, and professional services.
Prior period amounts have been revised to conform to the current period presentation. This change in presentation did not affect the total revenue or total cost of sales. The effect of the change on the Consolidated Statements of Income for 2022 and 2021 was as follows:
20222021
(In millions)
As Previously ReportedEffect of Change in PresentationAs Reported HereinAs Previously ReportedEffect of Change in PresentationAs Reported Herein
Revenue:
Product$2,152.0 $(165.9)$1,986.1 $2,247.5 $(112.3)$2,135.2 
Subscription and services— 1,690.2 1,690.2 — 1,523.9 1,523.9 
Service641.3 (641.3)— 649.4 (649.4)— 
Subscription883.0 (883.0)— 762.2 (762.2)— 
Total revenue$3,676.3 $— $3,676.3 $3,659.1 $— $3,659.1 
Cost of sales:
Product$1,046.1 $(5.3)$1,040.8 $1,090.1 $(3.7)$1,086.4 
Subscription and services— 444.9 444.9 — 450.3 450.3 
Service235.7 (235.7)— 229.9 (229.9)— 
Subscription203.9 (203.9)— 216.7 (216.7)— 
Amortization of purchased intangible assets85.0 — 85.0 87.7 — 87.7 
Total cost of sales$1,570.7 $— $1,570.7 $1,624.4 $— $1,624.4 
Reportable Segments
We report our financial performance, including revenue and operating income, based on four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation.
Our Chief Executive Officer, who is our CODM, views and evaluates operations based on the results of our reportable operating segments under our management reporting system. These results are not necessarily in conformance with U.S. GAAP.
Revenue Recognition
Significant Judgments
Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services.  Revenue is recognized net of allowance for returns and any taxes collected from customers. We enter into contracts that may include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations; however, determining whether products or services are considered distinct performance obligations that should be accounted for separately versus together may sometimes require significant judgment.
Judgment is required to determine SSP for each performance obligation.  We use a range of amounts to estimate SSP when products and services are sold separately and determine whether there is a discount to be allocated based on the relative SSP of the various products and services.  In instances where SSP is not directly observable, we estimate SSP considering multiple factors including but not limited to, our internal cost, pricing practices, sales channel, competitive positioning, and overall market and business environments. As our offerings and markets change, we may be required to reassess our estimated SSP and, as a result, the timing and classification of our revenue could be affected.
Nature of Goods and Services
We generate revenue primarily from products and services and subscriptions; each of which is a distinct performance obligation. Descriptions are as follows:
Product
Product revenue includes hardware and perpetual software licenses.
Hardware is recognized when the control of the product transfers to the customer, which is generally when the product is shipped.  We recognize shipping fees reimbursed by customers as revenue and the cost for shipping as an expense in Cost of sales when control over products has transferred to the customer.
Software including perpetual licenses is recognized upon delivery and commencement of the license term.  In general, our contracts do not provide for customer specific acceptances.
Subscription and Services
Subscription and services revenue includes SaaS and hosting services, term licenses, hardware and software maintenance, and support and professional services.
SaaS may be sold with devices used to collect, generate, and transmit data.  SaaS is distinct from the related devices. SaaS is provided on either a subscription or a consumption basis. In addition, we may host the software that the customer has separately licensed. Hosting services are distinct from the underlying software. Subscription terms generally range from month-to-month to one to three years.  Subscription revenue is recognized monthly over the subscription term, commencing from activation. Revenue related to SaaS on a consumption basis is recognized when the customer utilizes the service based on the quantity of the services consumed.
Term license subscriptions contain an on-premise term license component as well as maintenance and support. Term licenses are distinct and recognized upon transfer and commencement of the subscription license term. Maintenance and support are recognized ratably over the subscription term. The subscription term generally ranges from one to three years.
Hardware maintenance and support, commonly called extended warranty, entitles the customer to receive replacement parts and repair services.  Extended warranty is separately priced and is recognized on a straight-line basis over the extended service period, which begins after the standard warranty period, ranging from one to two years depending on the product line.
Software maintenance and support entitles the customer to receive software product upgrades and enhancements on a when and if available basis and technical support. Software maintenance is recognized on a straight-line basis commencing upon product delivery over the post-contract support term, which ranges from one to three years, with one year being most common.
Professional services include installation, training, configuration, project management, system integrations, customization, data migration/conversion, and other implementation services. The majority of professional services are not complex, can be provided by other vendors, and are readily available and billed on a time-and-material basis. Revenue for distinct professional services is recognized over time, based on work performed.
Accounts Receivable, Net
Accounts receivable, net, includes billed and unbilled amounts due from customers. Unbilled receivables include revenue recognized that exceeds the amount billed to the customer, provided the billing is not contingent upon future performance, and we have the unconditional right to future payment with only the passage of time required. Both billed and unbilled amounts due are stated at their net estimated realizable value.
We maintain an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. Each reporting period, we evaluate the collectability of our trade accounts receivable based on a number of factors, such as age of the accounts receivable balances, credit quality, historical experience, and current and future economic conditions that may affect a customer’s ability to pay. At the end of 2023 and 2022, the allowances for credit losses were immaterial.
Inventories
Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost. Adjustments are also made to reduce the cost of inventory for estimated excess or obsolete balances. Factors influencing these adjustments include declines in demand that impact inventory purchasing forecasts, technological changes, product lifecycle and development plans, component cost trends, product pricing, physical deterioration, and quality issues. If our estimate used to reserve for excess and obsolete inventory differs from what is expected, we may be required to recognize additional reserves, which would negatively impact our gross margin.
Property and Equipment, Net
Property and equipment are depreciated using the straight-line method over the shorter of the estimated useful lives or the lease terms when applicable. Useful lives generally range from four to six years for machinery and equipment, five to ten years for furniture and fixtures, two to five years for computer equipment and software, thirty-nine years for buildings, and the life of the lease for leasehold improvements. We capitalize eligible costs to acquire or develop certain internal-use software and amortize those assets using the straight-line method over the estimated useful lives of the assets, which range from two to five years.
Leases
We determine if an arrangement is a lease at inception. Operating leases with lease terms greater than one year are included in Operating lease right-of-use (“ROU”) assets, Other current liabilities, and Operating lease liabilities in our Consolidated Balance Sheets.
ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Present value is determined by using our incremental borrowing rate based on the estimated rate of interest for collateralized borrowings over a similar term of the lease payments at the commencement date. The operating lease ROU assets include adjustments made for uneven rents, lease incentives, and lease impairments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Lease agreements that include both lease and non-lease components are accounted for as part of the overall lease arrangement.
Business Combinations
We allocate the fair value of purchase consideration to the assets acquired, liabilities assumed, and any noncontrolling interest based on their fair values at the acquisition date. When determining the fair values, we make significant estimates and assumptions, especially concerning intangible assets. Critical estimates when valuing intangible assets include expected future cash flows based on consideration of revenue and revenue growth rates and margins, customer attrition rates, future changes in technology and brand awareness, loyalty and position, and discount rates. Any purchase consideration in excess of the fair values of the net assets acquired is recorded as goodwill.
Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available.
Acquisition costs are expensed as incurred.
Goodwill
We evaluate goodwill on an annual basis or more frequently if indicators of potential impairment exist. To determine whether goodwill is impaired, we first assess qualitative factors. Qualitative factors include but are not limited to macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, or other relevant company-specific events. If it is determined more likely than not that the fair value of a goodwill reporting unit is less than its carrying amount, we perform a quantitative analysis. Alternatively, we may bypass the qualitative assessment and perform a quantitative impairment test.
When performing a quantitative approach, we compare the reporting unit’s carrying amount, including goodwill, to the reporting unit's fair value. The estimation of a reporting unit's fair value involves using estimates and assumptions, including expected future operating performance using risk-adjusted discount rates. If the reporting unit's carrying amount exceeds its fair value, an impairment loss is recognized.
Intangible Assets
Intangible assets acquired in a business combination are recorded at fair value. Our intangible assets are amortized over the period of estimated benefit using the straight-line method over their estimated useful lives, which range from three to ten years and have a weighted-average useful life of approximately seven years. We write off fully amortized intangible assets when those assets are no longer used.
We review intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable based on their future cash flows. The estimated future cash flows are primarily based upon assumptions about expected future operating performance.
Foreign Currency Translation
Assets and liabilities recorded in foreign currency are translated to U.S. dollars at the exchange rates on the balance sheet date. Revenue and expense are translated at average monthly exchange rates during the year. Translation adjustments resulting from this process are recorded to other comprehensive income.
Stock-Based Compensation
Stock-based compensation expense is based on the measurement date fair value of the awards, net of expected forfeitures. Expense is generally recognized on a straight-line basis over the requisite service period of the stock awards. The estimate of the forfeiture rate is based on historical experience.
Research and Development Costs
Research and development costs are expensed as incurred. Development costs for software to be sold subsequent to reaching technical feasibility were not significant and were expensed as incurred. We offset research and development expense with any unconditional third party funding earned and retain the rights to any technology developed under such arrangements.
Income Taxes
Income taxes are accounted for under the liability method, whereby deferred tax assets or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect for the year in which the differences are expected to affect taxable income. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not such assets will not be realized. Our valuation allowance is primarily attributable to foreign net operating losses and state research and development credit carryforwards.
Relative to uncertain tax positions, we only recognize a tax benefit if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments and may not accurately forecast actual tax audit outcomes. Changes in recognition or measurement of our uncertain tax positions would result in the recognition of a tax benefit or an additional charge to the tax provision. Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense.
We are subject to income taxes in the U.S. and numerous other countries and are subject to routine corporate income tax audits in many of these jurisdictions. We generally believe that positions taken on our tax returns are more likely than not to be sustained upon audit, but tax authorities in some circumstance have, and may in the future, successfully challenge these positions. Accordingly, our income tax provision includes amounts intended to satisfy assessments that may result from these challenges. The amounts ultimately paid on resolution of an audit could be materially different from the amounts previously included in our income tax provision and, therefore, could have a material impact on our income tax provision, net income, and cash flows.
Concentrations of Risk
Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and therefore bear minimal credit risk.
We are also exposed to credit risk in our trade receivables, which are derived from sales to end-user customers in diversified industries as well as various resellers. We perform ongoing credit evaluations of our customers’ financial conditions and limit the amount of credit extended, when deemed necessary, but generally do not require collateral.
In addition, we rely on a limited number of suppliers for a number of our critical components.
Guarantees, Including Indirect Guarantees of Indebtedness of Others
In the normal course of business to facilitate sales of our products, we indemnify other parties, including customers, lessors, and parties to other transactions with us with respect to certain matters. We may agree to hold the other party harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In connection with divesting some of our businesses or assets, we may also indemnify purchasers for certain matters in the normal course of business, such as breaches of representations, covenants, or excluded liabilities. In addition, we entered into indemnification agreements with our officers and directors, and our bylaws contain similar indemnification obligations to our agents.
It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made under these agreements were not material, and no liabilities have been recorded for these obligations in the Consolidated Balance Sheets at the end of 2023 and 2022.
Derivative Financial Instruments
We enter into foreign exchange forward contracts to minimize the short-term impact of foreign currency fluctuations on cash and certain trade and intercompany receivables and payables, primarily denominated in Euro, Canadian Dollars, New Zealand Dollars, British Pound, and Brazilian Real. These contracts reduce the exposure to fluctuations in foreign currency exchange rate movements, as the gains and losses associated with foreign currency balances are generally offset with the gains and losses on the forward contracts. We occasionally enter into foreign currency contracts to minimize the impact of foreign currency fluctuations on the purchase price of pending acquisitions. We do not enter into foreign currency forward contracts for trading purposes.
At the end of 2023 and 2022, there were no derivatives outstanding that were accounted for as hedges.
Recently issued Accounting Pronouncements not yet Adopted
In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU updates reportable segment disclosure requirements primarily through (i) enhanced disclosures about significant segment expenses, (ii) the composition of other segment items, and (iii) optional disclosure of more than one measure of segment profit or loss if the CODM uses those measures to assess segment performance and allocate resources. The ASU is effective for our Annual Report on Form 10-K beginning in 2024 and, afterward, interim reports. Early adoption is permitted. The ASU should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact of adopting this ASU on our financial reporting disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU updates the annual income tax disclosures by requiring (i) specific categories and greater disaggregation of information in the rate reconciliation, (ii) income taxes paid disaggregated by taxing authority and jurisdiction, and (iii) disclosures of pretax income (or loss) and income tax expense (or benefit). Additionally, certain existing disclosure requirements are removed. The ASU is effective for our Annual Report on Form 10-K beginning in 2025 and is applied prospectively. Early adoption and retrospective application are permitted. We are currently evaluating the impact of adopting this ASU on our financial reporting disclosures.
Recent Adopted Accounting Pronouncements
There are no recently adopted accounting pronouncements.
v3.24.4
Earnings Per Share
 12 Months Ended
Dec. 29, 2023
Earnings Per Share [Abstract]  
Earnings Per Share
NOTE 2: EARNINGS PER SHARE
Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted-average number of shares of common stock outstanding during the period plus additional shares of common stock that would have been outstanding if potentially dilutive securities had been issued. Potentially dilutive common shares include outstanding stock options, restricted stock units (“RSUs”), contingently issuable shares, and shares to be purchased under our employee stock purchase plan.
The following table shows the computation of basic and diluted earnings per share:
 202320222021
(In millions, except per share amounts)   
Numerator:
Net income attributable to Trimble Inc.$311.3 $449.7 $492.7 
Denominator:
Weighted-average number of common shares used in basic earnings per share247.9 248.6 251.4 
Effect of dilutive securities1.2 1.6 2.9 
Weighted-average number of common shares and dilutive potential common shares used in diluted earnings per share249.1 250.2 254.3 
Basic earnings per share$1.26 $1.81 $1.96 
Diluted earnings per share$1.25 $1.80 $1.94 
Antidilutive weighted-average shares (1)
1.9 1.3 0.1 
(1)    Antidilutive stock-based awards are excluded from the calculation of diluted shares and diluted earnings per share because their impact would increase diluted earnings per share.
v3.24.4
Acquisitions
 12 Months Ended
Dec. 29, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions
NOTE 3: ACQUISITIONS
On April 3, 2023, we acquired all of the issued and outstanding shares of TP Group Holding GmbH and Sixfold GmbH, which owned Transporeon, in an all-cash transaction. Transporeon is a Germany-based company and leading cloud-based transportation management software platform that connects key stakeholders across the industry lifecycle to positively impact the optimization of global supply chains, which aligns with our Connect and Scale strategy. Transporeon is reported as part of our Transportation segment.
The total purchase consideration was €1.9 billion or $2.1 billion, which included the repayment of outstanding Transporeon debt of $339.6 million. The acquisition was funded through a combination of cash on hand and debt. See Note 8 “Debt” of this report for more information.
In addition to Transporeon, we acquired two businesses in 2023 with total purchase consideration of $47.0 million. In the
aggregate, the two businesses acquired contributed less than 1% of our total revenue during 2023.
In 2022, we acquired two businesses, with total purchase consideration of $379.5 million. The largest acquisition was Bid2Win Software, LLC, a leading provider of estimating and operations solutions for the heavy civil construction industry. In the aggregate, the businesses acquired contributed less than 1% of our total revenue during 2022.
In 2021, we acquired AgileAssets, with total purchase consideration of $237.5 million. AgileAssets is a provider of SaaS solutions for transportation asset lifecycle management. The acquisition contributed less than 1% of our total revenue during 2021.
Acquisition costs of $35.0 million, $20.4 million, and $13.6 million in 2023, 2022, and 2021, were expensed as incurred and are included in Cost of sales and General and administrative expenses in our Consolidated Statements of Income.
Purchase Price Allocation
The fair value of identifiable assets acquired and liabilities assumed was determined under the acquisition method of accounting for business combinations. The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The fair value of intangible assets acquired is generally determined based on a discounted cash flow analysis.
The following table summarizes the consideration transferred to acquire Transporeon and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed, as well as the estimated useful lives of the identifiable intangible assets as of the date of the acquisition. The allocation of the purchase price is still preliminary as we finalize deferred income taxes. Preliminary estimates will be finalized within one year of the acquisition date.
Fair Value as of the Acquisition DateEstimated Useful Life
(In millions)
Total purchase consideration$2,082.6 
Net tangible assets acquired:
Cash and cash equivalents12.9 
Accounts receivable, net41.8 
Other current assets28.0 
Non-current assets24.7 
Accounts payable(4.1)
Accrued compensation and benefits(9.7)
Deferred revenue(16.5)
Other current liabilities(47.2)
Non-current liabilities(20.6)
Total net tangible assets acquired9.3 
Intangible assets acquired:
Customer relationships759.5 11 years
Developed product technology168.4 7 years
Trade name11.9 5 years
Total intangible assets acquired939.8 
Deferred tax liability(256.6)
Fair value of all assets/liabilities acquired692.5 
Goodwill$1,390.1 
Goodwill consists of growth potential, synergies, and economies of scale expected from combining Transporeon’s operations with ours, together with the highly skilled and valuable assembled workforce. We do not expect the goodwill to be deductible for income tax purposes.
The Company corrected an error which resulted in an adjustment of $34 million between goodwill and developed technology intangibles, net of tax.
Financial Information
The following table presents the amounts of revenue and net loss included in the Consolidated Statements of Income resulting from Transporeon since the acquisition date, which includes the effects of purchase accounting, primarily amortization of intangible assets and other adjustments.
Year of
 2023
(In millions) 
Total revenue$124.7 
Net loss
(42.3)
Pro Forma Financial Information
The unaudited pro forma financial information presented in the following table was computed by combining the historical financial information of Trimble and Transporeon along with the effects from business combination accounting and the associated debt resulting from this acquisition as if the companies were combined on January 1, 2022. This information is presented for informational purposes only, and it is not necessarily indicative of the operating results that would have occurred if the acquisition had been consummated as of that date. This information should not be used as a predictive measure of our future financial position, results of operations, or liquidity.
 Year of
 20232022
(In millions)  
Total revenue$3,839.2 $3,831.2 
Net income273.0 308.6 
v3.24.4
Divestitures
 12 Months Ended
Dec. 29, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Divestitures
NOTE 4: DIVESTITURES
Pending Divestiture
On September 28, 2023, we executed a definitive agreement with AGCO that provides for the formation of a JV with AGCO in the mixed fleet precision agriculture market. Under the terms of the agreement, we will contribute the Trimble Ag business, excluding certain GNSS and guidance technologies, and AGCO will contribute its JCA Technologies business to the JV. We will sell an interest in the JV to AGCO for $2.0 billion in pre-tax cash proceeds, subject to working capital adjustments. Immediately following the closing of this proposed transaction, we will own 15% of the JV and AGCO will own 85% of the JV.
Additionally, we plan to enter into the following agreements with AGCO as part of the overall transaction:
•a seven-year, renewable Supply Agreement through which we will provide key GNSS and guidance technologies to the JV for use in professional agriculture machines sold by AGCO, on an exclusive basis with limited exceptions;
•a Technology Transfer and License Agreement to govern the licensing of certain non-divested intellectual property and technology for use by the JV in the agriculture field and, upon expiration of the Supply Agreement, to govern fixed and variable royalty payments made to us by the JV;
•a Trademark License Agreement to govern the licensing of certain Trimble trademarks for use by the JV in the agriculture field;
•a Positioning Services Agreement through which the JV will serve as our channel partner for the positioning services in the agriculture market; and
•a Transition Services Agreement to provide contract manufacturing services for the divested products for two years following the closing of the proposed transaction.
The proposed transaction is expected to close in the first half of 2024 and is subject to customary closing conditions, including regulatory approvals. Trimble Ag is reported as a part of our Resources and Utilities segment.
Following the closing of this proposed transaction, our 15% ownership interest in the JV is expected to be reported as an equity method investment.
The assets and liabilities of Trimble Ag that are subject to the proposed transaction were classified as held for sale at the end of 2023. The following table presents the carrying values of the major classes of assets and liabilities classified as held for sale in our Consolidated Balance Sheets at the end of 2023:
At the End of Year
(In millions)2023
Cash and cash equivalents$9.1 
Accounts receivable, net12.1 
Inventories, net
84.2 
Other current assets3.4 
Property and equipment, net20.7 
Other purchased intangible assets, net20.3 
Goodwill
268.1 
Other non-current assets3.3 
Total Assets Held for Sale
$421.2 
Accounts payable$1.8 
Deferred revenue, current
14.3 
Other current liabilities16.0 
Deferred revenue, non-current8.3 
Other non-current liabilities7.9 
Total Liabilities Held for Sale
$48.3 
Other Divestitures
In addition to the pending Trimble Ag JV Transaction, we divested five businesses in 2023 with total proceeds of $18.7 million.
In 2022, we divested six businesses with total proceeds of $226.3 million. The largest divestiture was the sale of Time and Frequency, LOADRITE, Spectra Precision Tools, and SECO accessories businesses to Precisional LLC, an affiliate of The Jordan Company (“TJC”), for $205.1 million in cash, which included a working capital adjustment.
In 2021, divestitures were not material to the financial statements.
v3.24.4
Intangible Assets and Goodwill
 12 Months Ended
Dec. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill
NOTE 5: INTANGIBLE ASSETS AND GOODWILL
Intangible Assets
The following table presents a summary of our intangible assets:
At the End of 2023At the End of 2022
(In millions)Weighted-Average Useful Lives (in years)Gross Carrying
Amount		Accumulated
Amortization		Net  Carrying
Amount		Gross Carrying
Amount		Accumulated
Amortization		Net  Carrying
Amount
Developed product technology6$908.5 $(554.1)$354.4 $1,004.8 $(722.7)$282.1 
Customer relationships101,358.4 (474.5)883.9 654.1 (445.9)208.2 
Trade names and trademarks643.8 (38.6)5.2 39.5 (32.7)6.8 
Distribution rights and other intellectual property74.2 (4.2)— 8.0 (7.0)1.0 
$2,314.9 $(1,071.4)$1,243.5 $1,706.4 $(1,208.3)$498.1 
As of the end of 2023 and 2022, $267.8 million and $79.9 million of fully amortized intangible assets were written off.
The estimated future amortization expense of intangible assets at the end of 2023 was as follows:
(In millions)
2024$200.4 
2025168.6 
2026163.4 
2027149.7 
2028135.6 
Thereafter425.8 
Total$1,243.5 
Goodwill
The changes in the carrying amount of goodwill by segment for 2023 were as follows: 
Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
Balance as of year end 2022$2,300.1 $382.1 $471.8 $983.9 $4,137.9 
Additions due to acquisitions27.7 — — 1,390.1 1,417.8 
Assets held for sale— (1.9)(266.2)— (268.1)
Foreign currency translation and other adjustments19.5 4.9 10.8 27.8 63.0 
Balance as of year end 2023$2,347.3 $385.1 $216.4 $2,401.8 $5,350.6 
v3.24.4
Certain Balance Sheet Components
 12 Months Ended
Dec. 29, 2023
Balance Sheet Related Disclosures [Abstract]  
Certain Balance Sheet Components
NOTE 6: CERTAIN BALANCE SHEET COMPONENTS
The components of inventory, net were as follows:
At the End of Year20232022
(In millions)  
Inventories:
Raw materials$88.4 $154.9 
Work-in-process3.0 13.1 
Finished goods144.3 234.5 
Total inventories$235.7 $402.5 
Finished goods includes $11.3 million and $16.9 million at the end of 2023 and 2022 for costs of sales that have been deferred in connection with deferred revenue arrangements.
The components of property and equipment, net were as follows:
At the End of Year20232022
(In millions)  
Property and equipment, net:
Land, building, furniture, and leasehold improvements$237.4 $244.4 
Machinery and equipment170.0 177.6 
Software and licenses131.6 146.4 
Construction in progress 14.0 10.1 
553.0 578.5 
Less: accumulated depreciation(350.5)(359.5)
Total property and equipment, net$202.5 $219.0 
The components of accumulated other comprehensive loss, net of related tax were as follows:
At the End of Year20232022
(In millions)
Accumulated foreign currency translation adjustments$(158.0)$(241.6)
Gain on cash flow hedge4.7 5.4 
Net unrealized actuarial gains
1.2 1.3 
Total accumulated other comprehensive loss$(152.1)$(234.9)
v3.24.4
Reporting Segment And Geographic Information
 12 Months Ended
Dec. 29, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Reporting Segment And Geographic Information
NOTE 7: REPORTING SEGMENT AND GEOGRAPHIC INFORMATION
We determined our operating segments based on how our CODM views and evaluates operations. Various factors, including market separation and customer-specific applications, go-to-market channels, and products and services, were considered in determining these operating segments. Our CODM regularly reviews our segment operating results to make decisions about resources that are allocated to each segment and to assess performance. In each of our segments, we sell many individual products. For this reason, it is impracticable to segregate and identify revenue for each of the individual products or group of products we sell.
Our reportable segments are described below:
•Buildings and Infrastructure. This segment primarily serves customers working in architecture, engineering, construction, and operations and maintenance.
•Geospatial. This segment primarily serves customers working in surveying, engineering, and government.
•Resources and Utilities. This segment primarily serves customers working in agriculture, forestry, and utilities.
•Transportation. This segment primarily serves customers working in long haul trucking and freight shipper markets.
The following Reporting Segment tables reflect the results of our reportable operating segments under our management reporting system. These results are not necessarily in conformity with U.S. GAAP. This is consistent with the way the CODM evaluates each of the segment's performance and allocates resources.
 Reporting Segments
 Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
2023
Segment revenue$1,593.1 $695.5 $769.1 $741.0 $3,798.7 
Segment operating income 440.8 209.1 270.6 130.2 $1,050.7 
2022
Segment revenue$1,494.0 $756.5 $821.6 $604.2 $3,676.3 
Segment operating income 406.3 221.4 278.3 58.8 964.8 
2021
Segment revenue$1,422.7 $828.9 $771.3 $636.5 $3,659.4 
Segment operating income411.7 244.1 264.0 43.4 963.2 
 Reporting Segments
 Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
As of Year End 2023
Accounts receivable, net$314.1 $125.0 $92.5 $175.0 $706.6 
Inventories65.0 115.8 11.1 43.8 235.7 
Goodwill2,347.3 385.1 216.4 2,401.8 5,350.6 
As of Year End 2022
Accounts receivable, net $305.1 $137.2 $79.2 $121.8 $643.3 
Inventories 93.2 146.1 100.3 62.9 402.5 
Goodwill2,300.1 382.1 471.8 983.9 4,137.9 
As of Year End 2021
Accounts receivable, net$246.8 $134.0 $112.9 $131.1 $624.8 
Inventories79.3 136.4 67.4 80.2 363.3 
Goodwill2,141.4 403.6 440.8 995.7 3,981.5 
A reconciliation of our consolidated segment operating income to consolidated income before income taxes was as follows: 
 202320222021
(In millions)  
Consolidated segment operating income$1,050.7 $964.8 $963.2 
Unallocated general corporate expenses(116.0)(123.3)(106.2)
Purchase accounting adjustments(212.3)(131.6)(134.5)
Acquisition / divestiture items(72.4)(32.8)(21.8)
Stock-based compensation / deferred compensation(151.1)(112.0)(128.6)
Restructuring and other costs(50.1)(54.2)(11.1)
Consolidated operating income448.8 510.9 561.0 
Total non-operating income (expense), net(91.8)58.2 13.6 
Consolidated income before taxes$357.0 $569.1 $574.6 
The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and excludes the effects of certain acquired deferred
revenue that was written down to fair value in purchase accounting, consistent with the Reporting Segment tables above.
 Reporting Segments
 Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
2023
North America$1,026.0 $300.2 $217.5 $474.8 $2,018.5 
Europe338.1 213.3 328.9 195.9 1,076.2 
Asia Pacific196.6 141.9 56.9 33.5 428.9 
Rest of World32.4 40.1 165.8 36.8 275.1 
Total segment revenue$1,593.1 $695.5 $769.1 $741.0 $3,798.7 
2022
North America$938.1 $320.7 $227.0 $469.4 $1,955.2 
Europe337.1 247.8 374.3 78.7 1,037.9 
Asia Pacific192.8 140.3 51.7 30.3 415.1 
Rest of World26.0 47.7 168.6 25.8 268.1 
Total segment revenue$1,494.0 $756.5 $821.6 $604.2 $3,676.3 
2021
North America$823.5 $337.3 $212.2 $493.1 $1,866.1 
Europe386.6 282.3 368.4 87.3 1,124.6 
Asia Pacific188.4 161.4 67.3 30.2 447.3 
Rest of World24.2 47.9 123.4 25.9 221.4 
Total segment revenue$1,422.7 $828.9 $771.3 $636.5 $3,659.4 
Total revenue in the United States as included in the Consolidated Statements of Income was $1,855.2 million, $1,777.4 million, and $1,687.4 million in 2023, 2022, and 2021. No single customer or country other than the United States accounted for 10% or more of our total revenue in 2023, 2022, and 2021. No single customer accounted for 10% or more of our accounts receivable at the end of 2023 and 2022.
Property and equipment, net by geographic area were as follows:
At the End of Year20232022
(In millions)  
Property and equipment, net:
United States$153.8 $157.7 
Europe28.0 40.3 
Asia Pacific and Rest of World20.7 21.0 
Total property and equipment, net$202.5 $219.0 
v3.24.4
Debt
 12 Months Ended
Dec. 29, 2023
Debt Disclosure [Abstract]  
Debt
NOTE 8: DEBT
Debt consisted of the following:
At the End of YearEffective interest rate
(In millions, except percentages)Date of Issuance
End of 2023
20232022
Senior Notes:
   Senior Notes, 4.15%, due June 2023
June 2018$— $300.0 
   Senior Notes, 4.75%, due December 2024
November 20144.95%400.0 400.0 
   Senior Notes, 4.90%, due June 2028
June 20185.04%600.0 600.0 
   Senior Notes, 6.10%, due March 2033
March 20236.13%800.0 — 
Credit Facilities:
2022 Revolving Credit Facility, due March 2027September 20226.71%150.0 225.0 
Term Loan, due April 2026April 20236.99%500.0 — 
Term Loan, due April 2028April 20237.12%500.0 — 
Uncommitted Credit Facilities, floating rate5.06%130.4 — 
Unamortized discount and issuance costs(13.8)(5.0)
Total debt$3,066.6 $1,520.0 
Less: Short-term debt530.4 300.0 
Long-term debt$2,536.2 $1,220.0 
Debt Maturities
At the end of 2023, our debt maturities based on outstanding principal were as follows (in millions):
Year Payable
2024$530.4 
2025— 
2026518.8 
2027193.7 
20281,037.5 
Thereafter800.0 
Total$3,080.4 
Senior Notes
All of our senior notes are unsecured obligations. Interest on the senior notes is payable semi-annually in June and December of each year, except for the interest on the 2033 Senior Notes payable in March and September (as next described). For the 2028 and 2033 senior notes, the interest rate is subject to adjustment from time to time if Moody’s or S&P (or, if applicable, a substitute rating agency) downgrades (or subsequently upgrades) its rating assigned to the notes.
Senior Notes are unsecured and rank equally in right of payment with all of our other senior unsecured indebtedness. We may redeem the notes of each series of senior notes at our option in whole or in part at any time. Such indenture also contains covenants limiting our ability to create certain liens, enter into sale and lease-back transactions, and consolidate or merge with or into, or convey, transfer, or lease all or substantially all of our properties and assets, each subject to certain exceptions.
2033 Senior Notes
In March 2023, we issued an aggregate principal amount of $800.0 million in senior notes (the “2033 Senior Notes”) that will mature in March 2033 and bear interest at a fixed rate of 6.1% per annum. The interest is payable semi-annually in March and September of each year, commencing in September 2023. The interest rate is subject to adjustment from time to time upon a rating agency downgrade or upgrade of the credit rating assigned to the 2033 Senior Notes. The 2033 Senior Notes were sold at 99.843% of the aggregate principal amount. The 2033 Senior Notes are unsecured and rank equally in right of payment with all of our other senior unsecured indebtedness.
Credit Facilities
Bridge Facility
On December 11, 2022, we entered into a bridge facility commitment letter (the “Bridge Facility”) in connection with the acquisition of Transporeon. Under the Bridge Facility, the lender committed to provide a term loan up to an aggregate amount of €1.88 billion. On December 27, 2022, the Bridge Facility was automatically reduced to €500 million upon entering into the 2022 Term Loan Agreement and the 2022 Credit Facility Amendment (as next described). On March 9, 2023, as a result of completing the issuance of the 2033 Senior Notes, the remaining €500 million was automatically terminated with no amounts having been drawn.
2022 Term Loan Credit Agreement
On December 27, 2022, we entered into a $1.0 billion unsecured, delayed draw term loan credit agreement comprised of commitments for a 3-year tranche for $500.0 million and a 5-year tranche for $500.0 million. On April 3, 2023, both variable-rate term loans were drawn to fund the acquisition of Transporeon.
Prepayments are allowed without penalty and cannot be reborrowed.
2022 Credit Facility and Amendment
In March 2022, we entered into a credit agreement (the “2022 Credit Facility”) maturing in March 2027. The 2022 Credit Facility provides for a five-year, unsecured revolving credit facility in the aggregate principal amount of $1.25 billion, and permits us, subject to the satisfaction of certain conditions, to increase the commitments for revolving loans by an aggregate principal amount of up to $500.0 million. The variable interest rate and commitment fees are based on our current long-term, senior unsecured debt ratings, our leverage ratio, and certain specified sustainability targets.
On December 27, 2022, we entered into an amendment to the 2022 Credit Facility (the “2022 Credit Facility Amendment”) that made $600.0 million of the existing commitments under the Credit Facility available for the acquisition of Transporeon and increased our maximum permitted leverage ratio following the closing of the acquisition. On April 3, 2023, we borrowed $225.0 million as part of the proceeds to finance the acquisition. For additional information related to the Transporeon acquisition, see Note 3 “Acquisitions” of this report.
Uncommitted Facilities
At the end of 2023, we had two $75.0 million and one €100.0 million revolving credit facilities, which are uncommitted (the “uncommitted facilities”). Generally, these variable-rate uncommitted facilities may be redeemed upon demand. Borrowings under uncommitted facilities are classified as short-term debt in the Consolidated Balance Sheet.
Covenants
The 2022 term loan credit agreement and 2022 credit facility, as amended, contain customary covenants including, among other requirements, limitations that restrict the Company’s and its subsidiaries’ ability to create liens and enter into sale and leaseback transactions, and restrictions on the ability of the subsidiaries to incur indebtedness. Further, both debt agreements contain financial covenants that require the maintenance of maximum leverage and minimum interest coverage ratios. At the end of 2023, we were in compliance with the covenants for each of our debt agreements.
v3.24.4
Leases
 12 Months Ended
Dec. 29, 2023
Leases [Abstract]  
Leases
NOTE 9: LEASES
We have operating leases primarily for certain of our major facilities, including corporate offices, research and development facilities, and manufacturing facilities. Lease terms range from 1 to 12 years, and certain leases include options to extend the lease for up to 10 years. We consider options to extend the lease in determining the lease term.
Operating lease expense consisted of:
202320222021
(In millions) 
Operating lease expense$33.5 $36.3 $35.5 
Short-term lease expense and other17.1 14.8 17.8 
Total lease expense$50.6 $51.1 $53.3 
Supplemental cash flow information related to leases was as follows:
202320222021
(In millions)
Cash paid for liabilities included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)
$31.0 $35.0 $35.9 
Right-of-use assets obtained in exchange for Operating lease liabilities:$47.0 $26.3 $49.5 
(1)Excludes cash payments for short-term leases, which are not capitalized.
Supplemental balance sheet information related to leases was as follows:
At the End of Year20232022
(In millions)
Operating lease right-of-use assets$124.0 $121.2 
Other current liabilities$29.1 $35.0 
Operating lease liabilities121.9 105.1 
  Total operating lease liabilities$151.0 $140.1 
Weighted-average discount rate 4.27 %3.30 %
Weighted-average remaining lease term7 years6 years
At the end of 2023, the maturities of lease liabilities were as follows:
(In millions)
2024$34.6 
202529.3 
202625.0 
202720.3 
202816.4 
Thereafter47.9 
Total lease payments$173.5 
Less: imputed interest22.5 
Total $151.0 
We signed operating leases for real estate of approximately $21.5 million that have not yet commenced at the end of 2023, and as such, have not been recognized on our Consolidated Balance Sheets. These operating leases are expected to commence in 2024 with lease terms ranging from 1 to 11 years.
v3.24.4
Commitments and Contingencies
 12 Months Ended
Dec. 29, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
NOTE 10: COMMITMENTS AND CONTINGENCIES
Commitments
At the end of 2023, we had unconditional purchase obligations of approximately $618.9 million as compared to $858.8 million at the end of 2022. These unconditional purchase obligations primarily represent (i) open non-cancellable purchase orders for material purchases with our inventory vendors, and (ii) various non-cancelable agreements with certain service providers with minimum or fixed commitments.
Litigation
From time to time, we are involved in litigation arising in the ordinary course of our business. There are no material legal proceedings, other than ordinary routine litigation incidental to the business, that we or any of our subsidiaries is a party, or that any of our or our subsidiaries’ property is subject.
v3.24.4
Fair Value Measurements
 12 Months Ended
Dec. 29, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements
NOTE 11: FAIR VALUE MEASUREMENTS
The following table summarizes the fair values of financial instruments at fair value on a recurring basis for the periods indicated and determined using the following inputs:
Fair Values at the end of 2023
Fair Values at the end of 2022
Quoted prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsQuoted prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(In millions)(Level I)(Level II)(Level III)Total(Level I)(Level II)(Level III)Total
Assets
Deferred compensation plan (1)
$31.2$—$—$31.2$31.5$—$—$31.5
Derivatives (2)
—0.3—0.3—18.0—18.0
Contingent consideration (3)
——0.30.3——3.13.1
Total assets measured at fair value$31.2$0.3$0.3$31.8$31.5$18.0$3.1$52.6
Liabilities
Deferred compensation plan (1)
$31.2$—$—$31.2$31.5$—$—$31.5
Derivatives (2)
—0.3—0.3—0.2—0.2
Total liabilities measured at fair value$31.2$0.3$—$31.5$31.5$0.2$—$31.7
(1)Represents a self-directed, non-qualified deferred compensation plan for certain executives and other highly compensated employees included in Other non-current assets and Other non-current liabilities on our Consolidated Balance Sheets. The plan is invested in actively traded mutual funds and individual stocks valued using observable quoted prices in active markets.
(2)Represents forward currency exchange contracts, and for 2022, a treasury rate lock contract, all that are included in Other current assets and Other current liabilities on our Consolidated Balance Sheets.
(3)Represents arrangements to receive payments from buyers of our divested companies that are included in Other current assets on our Consolidated Balance Sheets. The fair values are estimated using scenario-based methods based upon estimated future milestones.
At the end of 2022, derivative assets included foreign currency exchange contracts and a treasury rate lock contract, both related to the acquisition of Transporeon and associated debt and were settled in the first two quarters of 2023.
Additional Fair Value Information
The total estimated fair value of all outstanding financial instruments that are not recorded at fair value on a recurring basis (debt) was approximately $3.1 billion and $1.5 billion at the end of 2023 and 2022.
The fair value of the senior notes was determined based on observable market prices in less active markets and is categorized accordingly as Level II. The fair values do not indicate the amount we would currently have to pay to extinguish the debt.
v3.24.4
Deferred Revenue And Remaining Performance Obligations
 12 Months Ended
Dec. 29, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
Deferred Revenue And Remaining Performance Obligations
NOTE 12: DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS
Deferred Revenue
Changes in our deferred revenue during 2023 and 2022 were as follows: 
(In millions) 20232022
Beginning balance of the period$737.6 $631.8 
Revenue recognized from prior year-end(607.8)(511.5)
Billings net of revenue recognized from current year631.6 617.3 
Ending balance of the period$761.4 $737.6 
Remaining Performance Obligations
At the end of 2023, approximately $1.8 billion of revenue is expected to be recognized from remaining performance obligations for which goods or services have not been delivered, primarily subscription, software, and software maintenance, and to a lesser extent, hardware and professional services contracts. We expect to recognize $1.2 billion or 70% of our remaining performance obligations as revenue during the next 12 months and the remainder thereafter.
v3.24.4
Income Taxes
 12 Months Ended
Dec. 29, 2023
Income Tax Disclosure [Abstract]  
Income Taxes
NOTE 13: INCOME TAXES
Income before taxes and the provision (benefit) for taxes consisted of the following:
202320222021
(In millions)
Income before taxes:
United States$26.9 $117.7 $144.0 
Foreign330.1 451.4 430.6 
Total$357.0 $569.1 $574.6 
Provision (benefit) for taxes:
U.S. Federal:
Current$57.1 $98.4 $27.1 
Deferred(92.5)(97.7)(22.9)
(35.4)0.7 4.2 
U.S. State:
Current12.8 12.6 5.6 
Deferred(6.6)(5.0)(2.5)
6.2 7.6 3.1 
Foreign:
Current80.4 48.4 76.0 
Deferred(5.5)62.7 (1.5)
74.9 111.1 74.5 
Income tax provision$45.7 $119.4 $81.8 
Effective tax rate12.8 %21.0 %14.2 %
The difference between the tax provision (benefit) at the statutory federal income tax rate and the tax provision (benefit) as a percentage of income before taxes (“effective tax rate”) was as follows:
202320222021
Statutory federal income tax rate21.0 %21.0 %21.0 %
Increase (reduction) in tax rate resulting from:
Foreign income taxed at different rates0.8 %4.4 %0.5 %
U.S. State income taxes1.0 %1.0 %1.1 %
Stock-based compensation4.8 %1.2 %(0.8)%
Other U.S. taxes on foreign operations(4.4)%(3.1)%(1.6)%
Foreign-derived intangible income
(3.9)%(0.4)%— %
U.S. Federal research and development credits(5.4)%(2.2)%(2.1)%
Tax reserve releases(2.5)%(1.8)%(2.1)%
Intellectual property restructuring and tax law changes— %— %(2.5)%
Other1.4 %0.9 %0.7 %
Effective tax rate12.8 %21.0 %14.2 %
Our effective income tax rates for 2023 and 2022 were 12.8% and 21.0%. The decrease was primarily due to increases in tax benefits from U.S. federal R&D credits and FDII in 2023, and a change in the geographic mix of earnings, partially offset by lower stock-based compensation deductions in the current year.
Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of deferred tax assets and liabilities were as follows:
At the End of Year20232022
(In millions)  
Deferred tax liabilities:
Global intangible low-taxed income$105.8 $137.8 
Purchased intangibles373.6 121.1 
Operating lease right-of-use assets30.2 29.0 
Other19.7 16.1 
Total deferred tax liabilities529.3 304.0 
Deferred tax assets:
Depreciation and amortization368.2 400.0 
Capitalized research and development98.4 67.5 
Operating lease liabilities
36.2 32.8 
U.S. tax credit carryforwards23.5 25.6 
Expenses not currently deductible26.5 30.9 
Net operating loss carryforwards
17.9 20.0 
Stock-based compensation
16.7 13.8 
Intercompany prepayments
36.6 — 
Other60.8 36.6 
Total deferred tax assets684.8 627.2 
Valuation allowance(31.0)(42.6)
Total deferred tax assets653.8 584.6 
Total net deferred tax assets$124.5 $280.6 
Reported as:
Non-current deferred income tax assets$412.3 $438.4 
Non-current deferred income tax liabilities(287.8)(157.8)
Net deferred tax assets$124.5 $280.6 
At the end of 2023, we have U.S. federal and foreign net operating loss carryforwards, or NOLs, of approximately $19.1 million and $86.3 million, respectively. The U.S. federal NOLs will begin to expire in 2026. There is generally no expiration for the foreign NOLs. Utilization of our U.S. federal NOLs is subject to annual limitations in accordance with the applicable tax code. We have determined that it is more likely than not that we will not realize a portion of the foreign NOLs and, accordingly, a valuation allowance has been established for such amount.
We have California research and development credit carryforwards of approximately $35.3 million, which have an indefinite carryforward period. We believe that it is more likely than not that we will not realize a significant portion of the California research and development credit carryforwards and, accordingly, a valuation allowance has been established for such amount.
As a result of the Tax Act, we can repatriate foreign earnings back to the U.S. when needed with minimal U.S. income tax consequences. We reinvested a large portion of our undistributed foreign earnings in acquisitions and other investments and intend to bring back a portion of foreign cash that was subject to the transition tax and the global intangible low-taxed income tax. During 2023, we repatriated $371.3 million of our foreign earnings to the U.S.
The total amount of unrecognized tax benefits at the end of 2023 was $88.3 million. A reconciliation of gross unrecognized tax benefits was as follows: 
202320222021
(In millions)
Beginning balance$76.5 $64.2 $64.1 
Increase related to current year tax positions12.4 23.0 9.6 
(Decrease) increase related to prior years' tax positions7.6 (0.7)1.3 
Settlement with taxing authorities— — (1.3)
Lapse of statute of limitations(8.2)(10.0)(9.5)
Ending balance$88.3 $76.5 $64.2 
Total unrecognized tax benefits that, if recognized, would affect our effective tax rate were $59.5 million and $51.6 million at the end of 2023 and 2022.
We and our subsidiaries are subject to U.S. federal, state, and foreign income taxes. Our tax years are substantially closed for all U.S. federal and state income taxes for audit purposes through 2015. Non-U.S. income tax matters have been concluded for years through 2008. We are currently in various stages of multiple year examinations from state and foreign (multiple jurisdictions) taxing authorities. While we generally believe it is more likely than not that our tax positions will be sustained, it is reasonably possible that future obligations related to these matters could arise. We believe that our reserves are adequate to cover any potential assessments that may result from the examinations and negotiations.
Although timing of the resolution and/or closure of audits is not certain, we do not believe that our gross unrecognized tax benefits would materially change in the next twelve months.
Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Our liability for unrecognized tax benefits including interest and penalties was recorded in Other non-current liabilities on our Consolidated Balance Sheets. At the end of 2023 and 2022, we accrued $9.9 million and $8.4 million for interest and penalties.
v3.24.4
Employee Stock Benefit Plans
 12 Months Ended
Dec. 29, 2023
Share-Based Payment Arrangement [Abstract]  
Employee Stock Benefit Plans
NOTE 14: EMPLOYEE STOCK BENEFIT PLANS
Amended and Restated 2002 Stock Plan
In May 2020, our stockholders approved an amendment to the 2002 Stock Plan to increase the number of shares of common stock available for issuance by 18.0 million shares. As such, our Amended and Restated 2002 Stock Plan provides for the granting of incentive and non-statutory stock options and Restricted Stock Units (“RSUs”) for up to 92.6 million shares. At the end of 2023, the remaining number of shares available for grant under the 2002 stock plan was 11.5 million.
Stock-Based Compensation Expense
The following table summarizes the components of stock-based compensation expense recognized in our Consolidated Statements of Income for the periods indicated:
202320222021
(In millions)   
Restricted stock units$132.8 $108.7 $110.5 
Stock options1.8 1.1 1.3 
ESPP10.8 10.6 10.8 
Total stock-based compensation expense$145.4 $120.4 $122.6 
Stock-based compensation expense was allocated as follows:
202320222021
(In millions)   
Cost of sales$14.6 $12.6 $9.5 
Research and development40.7 28.0 29.5 
Sales and marketing27.1 24.6 21.5 
General and administrative63.0 55.2 62.1 
Total stock-based compensation expense$145.4 $120.4 $122.6 
At the end of 2023, total unamortized stock-based compensation expense was $214.9 million, with a weighted-average recognition period of 1.8 years.
Restricted Stock Units
We grant RSUs containing only service conditions and RSUs containing a combination of service, performance, and market conditions (“PSUs”). RSUs containing only service conditions typically vest ratably over a two- to three-year service period. PSUs are granted to executive officers and other senior employees and vest after a three-year service period.
The fair value at the grant date is determined by (a) the closing price of our common stock for awards containing only service or both service and performance conditions, or (b) the Monte Carlo valuation model for awards containing both service and market conditions.
For PSUs, the number of shares received at vesting will range from 0% to 220% of the target grant amount based on either market conditions or performance conditions or, in some cases, both. Market conditions consider our relative total stockholder return (“TSR”) of our common stock as compared to the TSR of the constituents of the S&P 500 over the vesting period. Performance conditions consider the achievement of our financial results or metrics over the vesting period.
2023 Restricted Stock Units Outstanding
Number of Units (1)
Weighted Average
Grant-Date Fair Value per Share
(In millions, except for per share data)  
Outstanding at the beginning of year4.0 $67.32 
Granted (2)
3.9 49.93 
Shares vested, net (2)
(1.7)61.44 
Canceled and forfeited(0.7)56.39 
Outstanding at the end of year5.5 $58.23 
(1)    Includes 0.9 million PSUs granted, 0.1 million PSUs vested, 0.2 million PSUs cancelled and forfeited, and 1.2 million PSUs outstanding at the end of the year.
(2)    Excludes approximately 0.1 million PSUs related to achievement above target levels at the vesting date and approximately 0.1 million PSUs related to shares cancelled due to achievement below target levels.
The weighted-average grant date fair value of all RSUs granted during 2023, 2022, and 2021 was $49.93, $73.32, and $78.44 per share. The fair value of all RSUs vested during 2023, 2022, and 2021 was $110.1 million, $108.3 million, and $81.4 million.
Employee Stock Purchase Plan
We have an ESPP under which our stockholders have approved an aggregate of 39.0 million shares of common stock for issuance to eligible employees. The fair value at the grant date is based on the Black-Scholes valuation model. The plan permits eligible employees to purchase common stock through payroll deductions at 85% of the lower of the fair market value of the common stock at the beginning or at the end of each offering period, which is six months. Rights to purchase shares are granted during the first and third quarter of each year. The ESPP terminates on March 15, 2027. In 2023, 2022, and 2021, 0.8 million, 0.6 million, and 0.6 million shares were issued, representing $35.7 million, $34.7 million, and $33.4 million in cash received for the issuance of stock under the ESPP. At the end of 2023, the number of shares reserved for future purchases was 4.6 million.
v3.24.4
Common Stock Repurchase
 12 Months Ended
Dec. 29, 2023
Equity [Abstract]  
Common Stock Repurchase
NOTE 15: COMMON STOCK REPURCHASE
In August 2021, our Board of Directors approved a stock repurchase program (“2021 Stock Repurchase Program”) authorizing up to $750.0 million in repurchases of our common stock. At the end of 2023, the 2021 Stock Repurchase Program had remaining authorized funds of $115.3 million.
On January 28, 2024, our Board of Directors approved a new stock repurchase program (“2024 Stock Repurchase Program”) authorizing up to $800.0 million in repurchases of our common stock. The 2024 Stock Repurchase Program replaced the 2021 Stock Repurchase Program, which has been cancelled. Under the 2024 Stock Repurchase Program, the stock repurchase authorization does not have an expiration date.
According to the 2024 Stock Repurchase Program, we may repurchase stock from time to time through accelerated share repurchase programs, open market transactions, privately negotiated transactions, block purchases, tender offers, or by other means. The timing and actual number of any shares repurchased will depend on a variety of factors, including market conditions, our share price, other available uses of capital, applicable legal requirements, and other factors. The 2024 Stock Repurchase Program may be suspended, modified, or discontinued at any time without prior notice.
During 2023, 2022, and 2021, we repurchased approximately 2.4 million, 6.0 million, and 2.1 million shares of common stock in open market purchases at an average price of $42.50, $65.90, and $85.75 per share for a total of $100.0 million, $394.7 million, and $180.0 million.
Stock repurchases are reflected as a decrease to common stock based on par value and additional-paid-in-capital, determined by the average book value per share of outstanding stock, calculated at the time of each individual repurchase transaction. The excess of the purchase price over this average for each repurchase was charged to retained earnings. Common stock repurchases under the program were recorded based upon the trade date for accounting purposes. As a result of the 2023 repurchases under the 2021 Stock Repurchase Program, retained earnings was reduced by $79.0 million in 2023.
v3.24.4
Subsequent Events
 12 Months Ended
Dec. 29, 2023
Subsequent Events [Abstract]  
Subsequent Events
NOTE 16: SUBSEQUENT EVENT
Reporting Segment Change
Considering the pending AGCO JV transaction and our CODM’s revised organizational structure, effective in the first quarter of 2024, we reorganized our businesses under a new structure. This structure brings similar businesses together, which is expected to enhance our ability to achieve scale and growth consistent with our strategy. Beginning with the first quarter of 2024, our reporting segments, and the results of those segments, will be reorganized to reflect how our CODM assesses performance and allocates resources. The new reporting segments will be as follows:
•Architecture, Engineering, and Construction and Owner Software (“AECO Software”). This segment primarily provides software solutions, which sell through a direct channel to customers in the construction industry.
•Field Systems. This segment primarily includes hardware-centric businesses, which sell through dealer partner channels.
•Transportation and Logistics (“T&L”). This segment will primarily maintain the historical businesses from the previous Transportation segment, which serves customers working in long haul trucking and freight shipper markets.
We will report the new segment information beginning in the first quarter of 2024. As of and for the year of 2023, our CODM continued to review financial information at the current segment level; therefore, these changes had no impact on our reporting structure for 2023.
v3.24.4
Description Of Business And Accounting Policies (Policies)
 12 Months Ended
Dec. 29, 2023
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
These Consolidated Financial Statements include our results of our consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. Noncontrolling interests represent the noncontrolling stockholders’ proportionate share of the net assets and results of operations of our consolidated subsidiaries.
We use a 52–53 week fiscal year ending on the Friday nearest to December 31. Fiscal 2023, 2022, and 2021 were all 52-week years ending on December 29, 2023, December 30, 2022, and December 31, 2021. Unless otherwise stated, all dates refer to our fiscal year and fiscal periods.
Use of Estimates
Use of Estimates
The preparation of financial statements in accordance with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates and assumptions are used for (i) revenue recognition, including determining the nature and timing of satisfaction of performance obligations and determining standalone selling price (“SSP”) of performance obligations; (ii) inventory valuation; (iii) valuation of long-lived assets and their estimated useful lives; (iv) goodwill and other long-lived asset impairment analyses; (v) stock-based compensation; and (vi) income taxes. We base our estimates on historical experience and various other assumptions we believe to be reasonable. Actual results that we experience may differ materially from our estimates.
Reportable Segments
Reportable Segments
We report our financial performance, including revenue and operating income, based on four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation.
Our Chief Executive Officer, who is our CODM, views and evaluates operations based on the results of our reportable operating segments under our management reporting system. These results are not necessarily in conformance with U.S. GAAP.
Revenue Recognition
Revenue Recognition
Significant Judgments
Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services.  Revenue is recognized net of allowance for returns and any taxes collected from customers. We enter into contracts that may include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations; however, determining whether products or services are considered distinct performance obligations that should be accounted for separately versus together may sometimes require significant judgment.
Judgment is required to determine SSP for each performance obligation.  We use a range of amounts to estimate SSP when products and services are sold separately and determine whether there is a discount to be allocated based on the relative SSP of the various products and services.  In instances where SSP is not directly observable, we estimate SSP considering multiple factors including but not limited to, our internal cost, pricing practices, sales channel, competitive positioning, and overall market and business environments. As our offerings and markets change, we may be required to reassess our estimated SSP and, as a result, the timing and classification of our revenue could be affected.
Nature of Goods and Services
We generate revenue primarily from products and services and subscriptions; each of which is a distinct performance obligation. Descriptions are as follows:
Product
Product revenue includes hardware and perpetual software licenses.
Hardware is recognized when the control of the product transfers to the customer, which is generally when the product is shipped.  We recognize shipping fees reimbursed by customers as revenue and the cost for shipping as an expense in Cost of sales when control over products has transferred to the customer.
Software including perpetual licenses is recognized upon delivery and commencement of the license term.  In general, our contracts do not provide for customer specific acceptances.
Subscription and Services
Subscription and services revenue includes SaaS and hosting services, term licenses, hardware and software maintenance, and support and professional services.
SaaS may be sold with devices used to collect, generate, and transmit data.  SaaS is distinct from the related devices. SaaS is provided on either a subscription or a consumption basis. In addition, we may host the software that the customer has separately licensed. Hosting services are distinct from the underlying software. Subscription terms generally range from month-to-month to one to three years.  Subscription revenue is recognized monthly over the subscription term, commencing from activation. Revenue related to SaaS on a consumption basis is recognized when the customer utilizes the service based on the quantity of the services consumed.
Term license subscriptions contain an on-premise term license component as well as maintenance and support. Term licenses are distinct and recognized upon transfer and commencement of the subscription license term. Maintenance and support are recognized ratably over the subscription term. The subscription term generally ranges from one to three years.
Hardware maintenance and support, commonly called extended warranty, entitles the customer to receive replacement parts and repair services.  Extended warranty is separately priced and is recognized on a straight-line basis over the extended service period, which begins after the standard warranty period, ranging from one to two years depending on the product line.
Software maintenance and support entitles the customer to receive software product upgrades and enhancements on a when and if available basis and technical support. Software maintenance is recognized on a straight-line basis commencing upon product delivery over the post-contract support term, which ranges from one to three years, with one year being most common.
Professional services include installation, training, configuration, project management, system integrations, customization, data migration/conversion, and other implementation services. The majority of professional services are not complex, can be provided by other vendors, and are readily available and billed on a time-and-material basis. Revenue for distinct professional services is recognized over time, based on work performed.
Accounts Receivable, Net
Accounts Receivable, Net
Accounts receivable, net, includes billed and unbilled amounts due from customers. Unbilled receivables include revenue recognized that exceeds the amount billed to the customer, provided the billing is not contingent upon future performance, and we have the unconditional right to future payment with only the passage of time required. Both billed and unbilled amounts due are stated at their net estimated realizable value.
We maintain an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. Each reporting period, we evaluate the collectability of our trade accounts receivable based on a number of factors, such as age of the accounts receivable balances, credit quality, historical experience, and current and future economic conditions that may affect a customer’s ability to pay.
Inventories
Inventories
Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost. Adjustments are also made to reduce the cost of inventory for estimated excess or obsolete balances. Factors influencing these adjustments include declines in demand that impact inventory purchasing forecasts, technological changes, product lifecycle and development plans, component cost trends, product pricing, physical deterioration, and quality issues. If our estimate used to reserve for excess and obsolete inventory differs from what is expected, we may be required to recognize additional reserves, which would negatively impact our gross margin.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment are depreciated using the straight-line method over the shorter of the estimated useful lives or the lease terms when applicable. Useful lives generally range from four to six years for machinery and equipment, five to ten years for furniture and fixtures, two to five years for computer equipment and software, thirty-nine years for buildings, and the life of the lease for leasehold improvements. We capitalize eligible costs to acquire or develop certain internal-use software and amortize those assets using the straight-line method over the estimated useful lives of the assets, which range from two to five years.
Leases
Leases
We determine if an arrangement is a lease at inception. Operating leases with lease terms greater than one year are included in Operating lease right-of-use (“ROU”) assets, Other current liabilities, and Operating lease liabilities in our Consolidated Balance Sheets.
ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Present value is determined by using our incremental borrowing rate based on the estimated rate of interest for collateralized borrowings over a similar term of the lease payments at the commencement date. The operating lease ROU assets include adjustments made for uneven rents, lease incentives, and lease impairments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Lease agreements that include both lease and non-lease components are accounted for as part of the overall lease arrangement.
Business Combinations
Business Combinations
We allocate the fair value of purchase consideration to the assets acquired, liabilities assumed, and any noncontrolling interest based on their fair values at the acquisition date. When determining the fair values, we make significant estimates and assumptions, especially concerning intangible assets. Critical estimates when valuing intangible assets include expected future cash flows based on consideration of revenue and revenue growth rates and margins, customer attrition rates, future changes in technology and brand awareness, loyalty and position, and discount rates. Any purchase consideration in excess of the fair values of the net assets acquired is recorded as goodwill.
Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available.
Acquisition costs are expensed as incurred.
Goodwill
Goodwill
We evaluate goodwill on an annual basis or more frequently if indicators of potential impairment exist. To determine whether goodwill is impaired, we first assess qualitative factors. Qualitative factors include but are not limited to macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, or other relevant company-specific events. If it is determined more likely than not that the fair value of a goodwill reporting unit is less than its carrying amount, we perform a quantitative analysis. Alternatively, we may bypass the qualitative assessment and perform a quantitative impairment test.
When performing a quantitative approach, we compare the reporting unit’s carrying amount, including goodwill, to the reporting unit's fair value. The estimation of a reporting unit's fair value involves using estimates and assumptions, including expected future operating performance using risk-adjusted discount rates. If the reporting unit's carrying amount exceeds its fair value, an impairment loss is recognized.
Intangible Assets
Intangible Assets
Intangible assets acquired in a business combination are recorded at fair value. Our intangible assets are amortized over the period of estimated benefit using the straight-line method over their estimated useful lives, which range from three to ten years and have a weighted-average useful life of approximately seven years. We write off fully amortized intangible assets when those assets are no longer used.
We review intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable based on their future cash flows. The estimated future cash flows are primarily based upon assumptions about expected future operating performance.
Foreign Currency Translation
Foreign Currency Translation
Assets and liabilities recorded in foreign currency are translated to U.S. dollars at the exchange rates on the balance sheet date. Revenue and expense are translated at average monthly exchange rates during the year. Translation adjustments resulting from this process are recorded to other comprehensive income.
Stock-Based Compensation
Stock-Based Compensation
Stock-based compensation expense is based on the measurement date fair value of the awards, net of expected forfeitures. Expense is generally recognized on a straight-line basis over the requisite service period of the stock awards. The estimate of the forfeiture rate is based on historical experience.
Research and Development Costs
Research and Development Costs
Research and development costs are expensed as incurred. Development costs for software to be sold subsequent to reaching technical feasibility were not significant and were expensed as incurred. We offset research and development expense with any unconditional third party funding earned and retain the rights to any technology developed under such arrangements.
Income Taxes
Income Taxes
Income taxes are accounted for under the liability method, whereby deferred tax assets or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect for the year in which the differences are expected to affect taxable income. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not such assets will not be realized. Our valuation allowance is primarily attributable to foreign net operating losses and state research and development credit carryforwards.
Relative to uncertain tax positions, we only recognize a tax benefit if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments and may not accurately forecast actual tax audit outcomes. Changes in recognition or measurement of our uncertain tax positions would result in the recognition of a tax benefit or an additional charge to the tax provision. Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense.
We are subject to income taxes in the U.S. and numerous other countries and are subject to routine corporate income tax audits in many of these jurisdictions. We generally believe that positions taken on our tax returns are more likely than not to be sustained upon audit, but tax authorities in some circumstance have, and may in the future, successfully challenge these positions. Accordingly, our income tax provision includes amounts intended to satisfy assessments that may result from these challenges. The amounts ultimately paid on resolution of an audit could be materially different from the amounts previously included in our income tax provision and, therefore, could have a material impact on our income tax provision, net income, and cash flows.
Concentrations of Risk
Concentrations of Risk
Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and therefore bear minimal credit risk.
We are also exposed to credit risk in our trade receivables, which are derived from sales to end-user customers in diversified industries as well as various resellers. We perform ongoing credit evaluations of our customers’ financial conditions and limit the amount of credit extended, when deemed necessary, but generally do not require collateral.
In addition, we rely on a limited number of suppliers for a number of our critical components.
Guarantees, Including Indirect Guarantees of Indebtedness of Others
Guarantees, Including Indirect Guarantees of Indebtedness of Others
In the normal course of business to facilitate sales of our products, we indemnify other parties, including customers, lessors, and parties to other transactions with us with respect to certain matters. We may agree to hold the other party harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In connection with divesting some of our businesses or assets, we may also indemnify purchasers for certain matters in the normal course of business, such as breaches of representations, covenants, or excluded liabilities. In addition, we entered into indemnification agreements with our officers and directors, and our bylaws contain similar indemnification obligations to our agents.
It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made under these agreements were not material, and no liabilities have been recorded for these obligations in the Consolidated Balance Sheets at the end of 2023 and 2022.
Derivative Financial Instruments
Derivative Financial Instruments
We enter into foreign exchange forward contracts to minimize the short-term impact of foreign currency fluctuations on cash and certain trade and intercompany receivables and payables, primarily denominated in Euro, Canadian Dollars, New Zealand Dollars, British Pound, and Brazilian Real. These contracts reduce the exposure to fluctuations in foreign currency exchange rate movements, as the gains and losses associated with foreign currency balances are generally offset with the gains and losses on the forward contracts. We occasionally enter into foreign currency contracts to minimize the impact of foreign currency fluctuations on the purchase price of pending acquisitions. We do not enter into foreign currency forward contracts for trading purposes.
At the end of 2023 and 2022, there were no derivatives outstanding that were accounted for as hedges.
Recently issued Accounting Pronouncements not yet Adopted And Recently Adopted Accounting Pronouncements
Recently issued Accounting Pronouncements not yet Adopted
In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU updates reportable segment disclosure requirements primarily through (i) enhanced disclosures about significant segment expenses, (ii) the composition of other segment items, and (iii) optional disclosure of more than one measure of segment profit or loss if the CODM uses those measures to assess segment performance and allocate resources. The ASU is effective for our Annual Report on Form 10-K beginning in 2024 and, afterward, interim reports. Early adoption is permitted. The ASU should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact of adopting this ASU on our financial reporting disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU updates the annual income tax disclosures by requiring (i) specific categories and greater disaggregation of information in the rate reconciliation, (ii) income taxes paid disaggregated by taxing authority and jurisdiction, and (iii) disclosures of pretax income (or loss) and income tax expense (or benefit). Additionally, certain existing disclosure requirements are removed. The ASU is effective for our Annual Report on Form 10-K beginning in 2025 and is applied prospectively. Early adoption and retrospective application are permitted. We are currently evaluating the impact of adopting this ASU on our financial reporting disclosures.
Recent Adopted Accounting Pronouncements
There are no recently adopted accounting pronouncements.
v3.24.4
Description Of Business And Accounting Policies (Tables)
 12 Months Ended
Dec. 29, 2023
Accounting Policies [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments The effect of the change on the Consolidated Statements of Income for 2022 and 2021 was as follows:
20222021
(In millions)
As Previously ReportedEffect of Change in PresentationAs Reported HereinAs Previously ReportedEffect of Change in PresentationAs Reported Herein
Revenue:
Product$2,152.0 $(165.9)$1,986.1 $2,247.5 $(112.3)$2,135.2 
Subscription and services— 1,690.2 1,690.2 — 1,523.9 1,523.9 
Service641.3 (641.3)— 649.4 (649.4)— 
Subscription883.0 (883.0)— 762.2 (762.2)— 
Total revenue$3,676.3 $— $3,676.3 $3,659.1 $— $3,659.1 
Cost of sales:
Product$1,046.1 $(5.3)$1,040.8 $1,090.1 $(3.7)$1,086.4 
Subscription and services— 444.9 444.9 — 450.3 450.3 
Service235.7 (235.7)— 229.9 (229.9)— 
Subscription203.9 (203.9)— 216.7 (216.7)— 
Amortization of purchased intangible assets85.0 — 85.0 87.7 — 87.7 
Total cost of sales$1,570.7 $— $1,570.7 $1,624.4 $— $1,624.4 
v3.24.4
Earnings Per Share (Tables)
 12 Months Ended
Dec. 29, 2023
Earnings Per Share [Abstract]  
Schedule of Computation of Earnings Per Share and Effect on Weighted-Average Number of Shares
The following table shows the computation of basic and diluted earnings per share:
 202320222021
(In millions, except per share amounts)   
Numerator:
Net income attributable to Trimble Inc.$311.3 $449.7 $492.7 
Denominator:
Weighted-average number of common shares used in basic earnings per share247.9 248.6 251.4 
Effect of dilutive securities1.2 1.6 2.9 
Weighted-average number of common shares and dilutive potential common shares used in diluted earnings per share249.1 250.2 254.3 
Basic earnings per share$1.26 $1.81 $1.96 
Diluted earnings per share$1.25 $1.80 $1.94 
Antidilutive weighted-average shares (1)
1.9 1.3 0.1 
(1)    Antidilutive stock-based awards are excluded from the calculation of diluted shares and diluted earnings per share because their impact would increase diluted earnings per share.
v3.24.4
Acquisitions (Tables)
 12 Months Ended
Dec. 29, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the consideration transferred to acquire Transporeon and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed, as well as the estimated useful lives of the identifiable intangible assets as of the date of the acquisition. The allocation of the purchase price is still preliminary as we finalize deferred income taxes. Preliminary estimates will be finalized within one year of the acquisition date.
Fair Value as of the Acquisition DateEstimated Useful Life
(In millions)
Total purchase consideration$2,082.6 
Net tangible assets acquired:
Cash and cash equivalents12.9 
Accounts receivable, net41.8 
Other current assets28.0 
Non-current assets24.7 
Accounts payable(4.1)
Accrued compensation and benefits(9.7)
Deferred revenue(16.5)
Other current liabilities(47.2)
Non-current liabilities(20.6)
Total net tangible assets acquired9.3 
Intangible assets acquired:
Customer relationships759.5 11 years
Developed product technology168.4 7 years
Trade name11.9 5 years
Total intangible assets acquired939.8 
Deferred tax liability(256.6)
Fair value of all assets/liabilities acquired692.5 
Goodwill$1,390.1 
Schedule of Pro-Forma Financial Information
The following table presents the amounts of revenue and net loss included in the Consolidated Statements of Income resulting from Transporeon since the acquisition date, which includes the effects of purchase accounting, primarily amortization of intangible assets and other adjustments.
Year of
 2023
(In millions) 
Total revenue$124.7 
Net loss
(42.3)
The unaudited pro forma financial information presented in the following table was computed by combining the historical financial information of Trimble and Transporeon along with the effects from business combination accounting and the associated debt resulting from this acquisition as if the companies were combined on January 1, 2022. This information is presented for informational purposes only, and it is not necessarily indicative of the operating results that would have occurred if the acquisition had been consummated as of that date. This information should not be used as a predictive measure of our future financial position, results of operations, or liquidity.
 Year of
 20232022
(In millions)  
Total revenue$3,839.2 $3,831.2 
Net income273.0 308.6 
v3.24.4
Divestitures (Tables)
 12 Months Ended
Dec. 29, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets And Liabilities Held For Sale Included in Consolidated Balance Sheets The following table presents the carrying values of the major classes of assets and liabilities classified as held for sale in our Consolidated Balance Sheets at the end of 2023:
At the End of Year
(In millions)2023
Cash and cash equivalents$9.1 
Accounts receivable, net12.1 
Inventories, net
84.2 
Other current assets3.4 
Property and equipment, net20.7 
Other purchased intangible assets, net20.3 
Goodwill
268.1 
Other non-current assets3.3 
Total Assets Held for Sale
$421.2 
Accounts payable$1.8 
Deferred revenue, current
14.3 
Other current liabilities16.0 
Deferred revenue, non-current8.3 
Other non-current liabilities7.9 
Total Liabilities Held for Sale
$48.3 
v3.24.4
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
The following table presents a summary of our intangible assets:
At the End of 2023At the End of 2022
(In millions)Weighted-Average Useful Lives (in years)Gross Carrying
Amount		Accumulated
Amortization		Net  Carrying
Amount		Gross Carrying
Amount		Accumulated
Amortization		Net  Carrying
Amount
Developed product technology6$908.5 $(554.1)$354.4 $1,004.8 $(722.7)$282.1 
Customer relationships101,358.4 (474.5)883.9 654.1 (445.9)208.2 
Trade names and trademarks643.8 (38.6)5.2 39.5 (32.7)6.8 
Distribution rights and other intellectual property74.2 (4.2)— 8.0 (7.0)1.0 
$2,314.9 $(1,071.4)$1,243.5 $1,706.4 $(1,208.3)$498.1 
Schedule of Estimated Future Amortization Expense
The estimated future amortization expense of intangible assets at the end of 2023 was as follows:
(In millions)
2024$200.4 
2025168.6 
2026163.4 
2027149.7 
2028135.6 
Thereafter425.8 
Total$1,243.5 
Schedule of Changes in Carrying Amount of Goodwill by Operating Segment
The changes in the carrying amount of goodwill by segment for 2023 were as follows: 
Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
Balance as of year end 2022$2,300.1 $382.1 $471.8 $983.9 $4,137.9 
Additions due to acquisitions27.7 — — 1,390.1 1,417.8 
Assets held for sale— (1.9)(266.2)— (268.1)
Foreign currency translation and other adjustments19.5 4.9 10.8 27.8 63.0 
Balance as of year end 2023$2,347.3 $385.1 $216.4 $2,401.8 $5,350.6 
v3.24.4
Certain Balance Sheet Components (Tables)
 12 Months Ended
Dec. 29, 2023
Balance Sheet Related Disclosures [Abstract]  
Schedule of Components of Inventory
The components of inventory, net were as follows:
At the End of Year20232022
(In millions)  
Inventories:
Raw materials$88.4 $154.9 
Work-in-process3.0 13.1 
Finished goods144.3 234.5 
Total inventories$235.7 $402.5 
Schedule of Components Of Property and Equipment
The components of property and equipment, net were as follows:
At the End of Year20232022
(In millions)  
Property and equipment, net:
Land, building, furniture, and leasehold improvements$237.4 $244.4 
Machinery and equipment170.0 177.6 
Software and licenses131.6 146.4 
Construction in progress 14.0 10.1 
553.0 578.5 
Less: accumulated depreciation(350.5)(359.5)
Total property and equipment, net$202.5 $219.0 
Property and equipment, net by geographic area were as follows:
At the End of Year20232022
(In millions)  
Property and equipment, net:
United States$153.8 $157.7 
Europe28.0 40.3 
Asia Pacific and Rest of World20.7 21.0 
Total property and equipment, net$202.5 $219.0 
Schedule of Components of Accumulated Other Comprehensive Loss, Net
The components of accumulated other comprehensive loss, net of related tax were as follows:
At the End of Year20232022
(In millions)
Accumulated foreign currency translation adjustments$(158.0)$(241.6)
Gain on cash flow hedge4.7 5.4 
Net unrealized actuarial gains
1.2 1.3 
Total accumulated other comprehensive loss$(152.1)$(234.9)
v3.24.4
Reporting Segment And Geographic Information (Tables)
 12 Months Ended
Dec. 29, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Schedule Of Revenue, Operating Income And Identifiable Assets By Segment
The following Reporting Segment tables reflect the results of our reportable operating segments under our management reporting system. These results are not necessarily in conformity with U.S. GAAP. This is consistent with the way the CODM evaluates each of the segment's performance and allocates resources.
 Reporting Segments
 Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
2023
Segment revenue$1,593.1 $695.5 $769.1 $741.0 $3,798.7 
Segment operating income 440.8 209.1 270.6 130.2 $1,050.7 
2022
Segment revenue$1,494.0 $756.5 $821.6 $604.2 $3,676.3 
Segment operating income 406.3 221.4 278.3 58.8 964.8 
2021
Segment revenue$1,422.7 $828.9 $771.3 $636.5 $3,659.4 
Segment operating income411.7 244.1 264.0 43.4 963.2 
 Reporting Segments
 Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
As of Year End 2023
Accounts receivable, net$314.1 $125.0 $92.5 $175.0 $706.6 
Inventories65.0 115.8 11.1 43.8 235.7 
Goodwill2,347.3 385.1 216.4 2,401.8 5,350.6 
As of Year End 2022
Accounts receivable, net $305.1 $137.2 $79.2 $121.8 $643.3 
Inventories 93.2 146.1 100.3 62.9 402.5 
Goodwill2,300.1 382.1 471.8 983.9 4,137.9 
As of Year End 2021
Accounts receivable, net$246.8 $134.0 $112.9 $131.1 $624.8 
Inventories79.3 136.4 67.4 80.2 363.3 
Goodwill2,141.4 403.6 440.8 995.7 3,981.5 
Schedule of Reconciliation Of Our Condensed Consolidated Segment Operating Income To Consolidated Income Before Income Taxes
A reconciliation of our consolidated segment operating income to consolidated income before income taxes was as follows: 
 202320222021
(In millions)  
Consolidated segment operating income$1,050.7 $964.8 $963.2 
Unallocated general corporate expenses(116.0)(123.3)(106.2)
Purchase accounting adjustments(212.3)(131.6)(134.5)
Acquisition / divestiture items(72.4)(32.8)(21.8)
Stock-based compensation / deferred compensation(151.1)(112.0)(128.6)
Restructuring and other costs(50.1)(54.2)(11.1)
Consolidated operating income448.8 510.9 561.0 
Total non-operating income (expense), net(91.8)58.2 13.6 
Consolidated income before taxes$357.0 $569.1 $574.6 
Schedule Of Revenue From Customers by Geographic Area
The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and excludes the effects of certain acquired deferred
revenue that was written down to fair value in purchase accounting, consistent with the Reporting Segment tables above.
 Reporting Segments
 Buildings and InfrastructureGeospatialResources and UtilitiesTransportationTotal
(In millions)     
2023
North America$1,026.0 $300.2 $217.5 $474.8 $2,018.5 
Europe338.1 213.3 328.9 195.9 1,076.2 
Asia Pacific196.6 141.9 56.9 33.5 428.9 
Rest of World32.4 40.1 165.8 36.8 275.1 
Total segment revenue$1,593.1 $695.5 $769.1 $741.0 $3,798.7 
2022
North America$938.1 $320.7 $227.0 $469.4 $1,955.2 
Europe337.1 247.8 374.3 78.7 1,037.9 
Asia Pacific192.8 140.3 51.7 30.3 415.1 
Rest of World26.0 47.7 168.6 25.8 268.1 
Total segment revenue$1,494.0 $756.5 $821.6 $604.2 $3,676.3 
2021
North America$823.5 $337.3 $212.2 $493.1 $1,866.1 
Europe386.6 282.3 368.4 87.3 1,124.6 
Asia Pacific188.4 161.4 67.3 30.2 447.3 
Rest of World24.2 47.9 123.4 25.9 221.4 
Total segment revenue$1,422.7 $828.9 $771.3 $636.5 $3,659.4 
Schedule of Components Of Property and Equipment
The components of property and equipment, net were as follows:
At the End of Year20232022
(In millions)  
Property and equipment, net:
Land, building, furniture, and leasehold improvements$237.4 $244.4 
Machinery and equipment170.0 177.6 
Software and licenses131.6 146.4 
Construction in progress 14.0 10.1 
553.0 578.5 
Less: accumulated depreciation(350.5)(359.5)
Total property and equipment, net$202.5 $219.0 
Property and equipment, net by geographic area were as follows:
At the End of Year20232022
(In millions)  
Property and equipment, net:
United States$153.8 $157.7 
Europe28.0 40.3 
Asia Pacific and Rest of World20.7 21.0 
Total property and equipment, net$202.5 $219.0 
v3.24.4
Debt (Tables)
 12 Months Ended
Dec. 29, 2023
Debt Disclosure [Abstract]  
Schedule Of Debt
Debt consisted of the following:
At the End of YearEffective interest rate
(In millions, except percentages)Date of Issuance
End of 2023
20232022
Senior Notes:
   Senior Notes, 4.15%, due June 2023
June 2018$— $300.0 
   Senior Notes, 4.75%, due December 2024
November 20144.95%400.0 400.0 
   Senior Notes, 4.90%, due June 2028
June 20185.04%600.0 600.0 
   Senior Notes, 6.10%, due March 2033
March 20236.13%800.0 — 
Credit Facilities:
2022 Revolving Credit Facility, due March 2027September 20226.71%150.0 225.0 
Term Loan, due April 2026April 20236.99%500.0 — 
Term Loan, due April 2028April 20237.12%500.0 — 
Uncommitted Credit Facilities, floating rate5.06%130.4 — 
Unamortized discount and issuance costs(13.8)(5.0)
Total debt$3,066.6 $1,520.0 
Less: Short-term debt530.4 300.0 
Long-term debt$2,536.2 $1,220.0 
Schedule of Maturities of Long-term Debt
At the end of 2023, our debt maturities based on outstanding principal were as follows (in millions):
Year Payable
2024$530.4 
2025— 
2026518.8 
2027193.7 
20281,037.5 
Thereafter800.0 
Total$3,080.4 
v3.24.4
Leases (Tables)
 12 Months Ended
Dec. 29, 2023
Leases [Abstract]  
Schedule Of Lease Costs
Operating lease expense consisted of:
202320222021
(In millions) 
Operating lease expense$33.5 $36.3 $35.5 
Short-term lease expense and other17.1 14.8 17.8 
Total lease expense$50.6 $51.1 $53.3 
Supplemental cash flow information related to leases was as follows:
202320222021
(In millions)
Cash paid for liabilities included in the measurement of lease liabilities:
Operating cash flows from operating leases (1)
$31.0 $35.0 $35.9 
Right-of-use assets obtained in exchange for Operating lease liabilities:$47.0 $26.3 $49.5 
(1)Excludes cash payments for short-term leases, which are not capitalized.
Supplemental balance sheet information related to leases was as follows:
At the End of Year20232022
(In millions)
Operating lease right-of-use assets$124.0 $121.2 
Other current liabilities$29.1 $35.0 
Operating lease liabilities121.9 105.1 
  Total operating lease liabilities$151.0 $140.1 
Weighted-average discount rate 4.27 %3.30 %
Weighted-average remaining lease term7 years6 years
Schedule of Operating Lease Maturities
At the end of 2023, the maturities of lease liabilities were as follows:
(In millions)
2024$34.6 
202529.3 
202625.0 
202720.3 
202816.4 
Thereafter47.9 
Total lease payments$173.5 
Less: imputed interest22.5 
Total $151.0 
v3.24.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 29, 2023
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value On a Recurring Basis
The following table summarizes the fair values of financial instruments at fair value on a recurring basis for the periods indicated and determined using the following inputs:
Fair Values at the end of 2023
Fair Values at the end of 2022
Quoted prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsQuoted prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable Inputs
(In millions)(Level I)(Level II)(Level III)Total(Level I)(Level II)(Level III)Total
Assets
Deferred compensation plan (1)
$31.2$—$—$31.2$31.5$—$—$31.5
Derivatives (2)
—0.3—0.3—18.0—18.0
Contingent consideration (3)
——0.30.3——3.13.1
Total assets measured at fair value$31.2$0.3$0.3$31.8$31.5$18.0$3.1$52.6
Liabilities
Deferred compensation plan (1)
$31.2$—$—$31.2$31.5$—$—$31.5
Derivatives (2)
—0.3—0.3—0.2—0.2
Total liabilities measured at fair value$31.2$0.3$—$31.5$31.5$0.2$—$31.7
(1)Represents a self-directed, non-qualified deferred compensation plan for certain executives and other highly compensated employees included in Other non-current assets and Other non-current liabilities on our Consolidated Balance Sheets. The plan is invested in actively traded mutual funds and individual stocks valued using observable quoted prices in active markets.
(2)Represents forward currency exchange contracts, and for 2022, a treasury rate lock contract, all that are included in Other current assets and Other current liabilities on our Consolidated Balance Sheets.
(3)Represents arrangements to receive payments from buyers of our divested companies that are included in Other current assets on our Consolidated Balance Sheets. The fair values are estimated using scenario-based methods based upon estimated future milestones.
v3.24.4
Deferred Revenue And Remaining Performance Obligations (Tables)
 12 Months Ended
Dec. 29, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
Schedule of Deferred Revenue and Performance Obligations
Changes in our deferred revenue during 2023 and 2022 were as follows: 
(In millions) 20232022
Beginning balance of the period$737.6 $631.8 
Revenue recognized from prior year-end(607.8)(511.5)
Billings net of revenue recognized from current year631.6 617.3 
Ending balance of the period$761.4 $737.6 
v3.24.4
Income Taxes (Tables)
 12 Months Ended
Dec. 29, 2023
Income Tax Disclosure [Abstract]  
Schedule Of Income Before Taxes
Income before taxes and the provision (benefit) for taxes consisted of the following:
202320222021
(In millions)
Income before taxes:
United States$26.9 $117.7 $144.0 
Foreign330.1 451.4 430.6 
Total$357.0 $569.1 $574.6 
Provision (benefit) for taxes:
U.S. Federal:
Current$57.1 $98.4 $27.1 
Deferred(92.5)(97.7)(22.9)
(35.4)0.7 4.2 
U.S. State:
Current12.8 12.6 5.6 
Deferred(6.6)(5.0)(2.5)
6.2 7.6 3.1 
Foreign:
Current80.4 48.4 76.0 
Deferred(5.5)62.7 (1.5)
74.9 111.1 74.5 
Income tax provision$45.7 $119.4 $81.8 
Effective tax rate12.8 %21.0 %14.2 %
Schedule Of Provision For Taxes
Income before taxes and the provision (benefit) for taxes consisted of the following:
202320222021
(In millions)
Income before taxes:
United States$26.9 $117.7 $144.0 
Foreign330.1 451.4 430.6 
Total$357.0 $569.1 $574.6 
Provision (benefit) for taxes:
U.S. Federal:
Current$57.1 $98.4 $27.1 
Deferred(92.5)(97.7)(22.9)
(35.4)0.7 4.2 
U.S. State:
Current12.8 12.6 5.6 
Deferred(6.6)(5.0)(2.5)
6.2 7.6 3.1 
Foreign:
Current80.4 48.4 76.0 
Deferred(5.5)62.7 (1.5)
74.9 111.1 74.5 
Income tax provision$45.7 $119.4 $81.8 
Effective tax rate12.8 %21.0 %14.2 %
Schedule Of Difference Between The Tax Provision At The Statutory Federal Income Tax Rate And The Tax Provision (Benefit) As A Percentage Of Income Before Taxes (Effective Tax Rate)
The difference between the tax provision (benefit) at the statutory federal income tax rate and the tax provision (benefit) as a percentage of income before taxes (“effective tax rate”) was as follows:
202320222021
Statutory federal income tax rate21.0 %21.0 %21.0 %
Increase (reduction) in tax rate resulting from:
Foreign income taxed at different rates0.8 %4.4 %0.5 %
U.S. State income taxes1.0 %1.0 %1.1 %
Stock-based compensation4.8 %1.2 %(0.8)%
Other U.S. taxes on foreign operations(4.4)%(3.1)%(1.6)%
Foreign-derived intangible income
(3.9)%(0.4)%— %
U.S. Federal research and development credits(5.4)%(2.2)%(2.1)%
Tax reserve releases(2.5)%(1.8)%(2.1)%
Intellectual property restructuring and tax law changes— %— %(2.5)%
Other1.4 %0.9 %0.7 %
Effective tax rate12.8 %21.0 %14.2 %
Schedule Of Deferred Tax Assets And Liabilities The significant components of deferred tax assets and liabilities were as follows:
At the End of Year20232022
(In millions)  
Deferred tax liabilities:
Global intangible low-taxed income$105.8 $137.8 
Purchased intangibles373.6 121.1 
Operating lease right-of-use assets30.2 29.0 
Other19.7 16.1 
Total deferred tax liabilities529.3 304.0 
Deferred tax assets:
Depreciation and amortization368.2 400.0 
Capitalized research and development98.4 67.5 
Operating lease liabilities
36.2 32.8 
U.S. tax credit carryforwards23.5 25.6 
Expenses not currently deductible26.5 30.9 
Net operating loss carryforwards
17.9 20.0 
Stock-based compensation
16.7 13.8 
Intercompany prepayments
36.6 — 
Other60.8 36.6 
Total deferred tax assets684.8 627.2 
Valuation allowance(31.0)(42.6)
Total deferred tax assets653.8 584.6 
Total net deferred tax assets$124.5 $280.6 
Reported as:
Non-current deferred income tax assets$412.3 $438.4 
Non-current deferred income tax liabilities(287.8)(157.8)
Net deferred tax assets$124.5 $280.6 
Schedule Of Reconciliation Of Unrecognized Tax Benefit
The total amount of unrecognized tax benefits at the end of 2023 was $88.3 million. A reconciliation of gross unrecognized tax benefits was as follows: 
202320222021
(In millions)
Beginning balance$76.5 $64.2 $64.1 
Increase related to current year tax positions12.4 23.0 9.6 
(Decrease) increase related to prior years' tax positions7.6 (0.7)1.3 
Settlement with taxing authorities— — (1.3)
Lapse of statute of limitations(8.2)(10.0)(9.5)
Ending balance$88.3 $76.5 $64.2 
v3.24.4
Employee Stock Benefit Plans (Tables)
 12 Months Ended
Dec. 29, 2023
Share-Based Payment Arrangement [Abstract]  
Summarizes the Components of Stock-Based Compensation Expense
The following table summarizes the components of stock-based compensation expense recognized in our Consolidated Statements of Income for the periods indicated:
202320222021
(In millions)   
Restricted stock units$132.8 $108.7 $110.5 
Stock options1.8 1.1 1.3 
ESPP10.8 10.6 10.8 
Total stock-based compensation expense$145.4 $120.4 $122.6 
Stock-based compensation expense was allocated as follows:
202320222021
(In millions)   
Cost of sales$14.6 $12.6 $9.5 
Research and development40.7 28.0 29.5 
Sales and marketing27.1 24.6 21.5 
General and administrative63.0 55.2 62.1 
Total stock-based compensation expense$145.4 $120.4 $122.6 
Summary of Performance of Our Financial Results
2023 Restricted Stock Units Outstanding
Number of Units (1)
Weighted Average
Grant-Date Fair Value per Share
(In millions, except for per share data)  
Outstanding at the beginning of year4.0 $67.32 
Granted (2)
3.9 49.93 
Shares vested, net (2)
(1.7)61.44 
Canceled and forfeited(0.7)56.39 
Outstanding at the end of year5.5 $58.23 
(1)    Includes 0.9 million PSUs granted, 0.1 million PSUs vested, 0.2 million PSUs cancelled and forfeited, and 1.2 million PSUs outstanding at the end of the year.
(2)    Excludes approximately 0.1 million PSUs related to achievement above target levels at the vesting date and approximately 0.1 million PSUs related to shares cancelled due to achievement below target levels.
v3.24.4
Description Of Business And Accounting Policies (Schedule of Error Corrections and Prior Period Adjustments) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Reclassification [Line Items]      
Total revenue $ 3,798.7 $ 3,676.3 $ 3,659.1
Amortization of purchased intangible assets 108.7 85.0 87.7
Total cost of sales 1,465.9 1,570.7 1,624.4
As Previously Reported      
Reclassification [Line Items]      
Total revenue   3,676.3 3,659.1
Amortization of purchased intangible assets   85.0 87.7
Total cost of sales   1,570.7 1,624.4
Product      
Reclassification [Line Items]      
Total revenue 1,771.7 1,986.1 2,135.2
Cost of sales 875.0 1,040.8 1,086.4
Product | As Previously Reported      
Reclassification [Line Items]      
Total revenue   2,152.0 2,247.5
Cost of sales   1,046.1 1,090.1
Product | Effect of Change in Presentation      
Reclassification [Line Items]      
Total revenue   (165.9) (112.3)
Cost of sales   (5.3) (3.7)
Subscription and services      
Reclassification [Line Items]      
Total revenue 2,027.0 1,690.2 1,523.9
Cost of sales $ 482.2 444.9 450.3
Subscription and services | Effect of Change in Presentation      
Reclassification [Line Items]      
Total revenue   1,690.2 1,523.9
Cost of sales   444.9 450.3
Service | As Previously Reported      
Reclassification [Line Items]      
Total revenue   641.3 649.4
Cost of sales   235.7 229.9
Service | Effect of Change in Presentation      
Reclassification [Line Items]      
Total revenue   (641.3) (649.4)
Cost of sales   (235.7) (229.9)
Subscription | As Previously Reported      
Reclassification [Line Items]      
Total revenue   883.0 762.2
Cost of sales   203.9 216.7
Subscription | Effect of Change in Presentation      
Reclassification [Line Items]      
Total revenue   (883.0) (762.2)
Cost of sales   $ (203.9) $ (216.7)
v3.24.4
Description Of Business And Accounting Policies (Narrative) (Details)
 12 Months Ended
Dec. 29, 2023
USD ($)
segment
Dec. 30, 2022
USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Number of reportable segments | segment 4  
Forward Contracts    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Derivative financial instruments accounted for as hedges | $ $ 0 $ 0
Building    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 39 years  
Minimum    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Subscription revenue term (in years) 1 year  
Subscription term (in years) 1 year  
Product warranty term (in years) 1 year  
Post contract support term (in years) 1 year  
Weighted-Average Useful Lives (in years) 3 years  
Minimum | Machinery and equipment    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 4 years  
Minimum | Furniture and Fixtures    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 5 years  
Minimum | Computer Equipment And Software    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 2 years  
Minimum | Internal Use Of Software    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 2 years  
Maximum    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Subscription revenue term (in years) 3 years  
Subscription term (in years) 3 years  
Product warranty term (in years) 2 years  
Post contract support term (in years) 3 years  
Weighted-Average Useful Lives (in years) 10 years  
Maximum | Machinery and equipment    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 6 years  
Maximum | Furniture and Fixtures    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 10 years  
Maximum | Computer Equipment And Software    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 5 years  
Maximum | Internal Use Of Software    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Useful life of asset (in years) 5 years  
Weighted Average    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]    
Weighted-Average Useful Lives (in years) 7 years  
v3.24.4
Earnings Per Share (Schedule Of Computation Of Earnings Per Share And Effect On Weighted-Average Number Of Shares) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Numerator:      
Net income attributable to Trimble Inc. $ 311.3 $ 449.7 $ 492.7
Denominator:      
Weighted-average number of common shares used in basic earnings per share (in shares) 247.9 248.6 251.4
Effect of dilutive securities (in shares) 1.2 1.6 2.9
Weighted-average number of common shares and dilutive potential common shares used in diluted earnings per share (in shares) 249.1 250.2 254.3
Basic earnings per share (in usd per share) $ 1.26 $ 1.81 $ 1.96
Diluted earnings per share (in usd per share) $ 1.25 $ 1.80 $ 1.94
Antidilutive weighted-average shares (in shares) 1.9 1.3 0.1
v3.24.4
Acquisitions (Narrative) (Details)
€ in Billions
 12 Months Ended
Apr. 03, 2023
USD ($)
Apr. 03, 2023
EUR (€)
Dec. 29, 2023
USD ($)
acquisition
Dec. 30, 2022
USD ($)
acquisition
Dec. 31, 2021
USD ($)
Business Acquisition [Line Items]          
Repayments of long-term debt     $ 2,292,900,000 $ 590,200,000 $ 449,900,000
Number of businesses acquired | acquisition       2  
Purchase consideration       $ 379,500,000  
Acquisition related costs     35,000,000 $ 20,400,000 13,600,000
Maximum          
Business Acquisition [Line Items]          
Total revenue percentage       1.00%  
Transporeon          
Business Acquisition [Line Items]          
Total purchase consideration $ 2,082,600,000 € 1.9      
Repayments of long-term debt 339,600,000        
Business acquisition, goodwill, expected tax deductible amount $ 0        
Goodwill adjustment     34,000,000    
Series of Individually Immaterial Business Acquisitions          
Business Acquisition [Line Items]          
Total purchase consideration     $ 47,000,000    
Number of businesses acquired | acquisition     2    
Series of Individually Immaterial Business Acquisitions | Maximum          
Business Acquisition [Line Items]          
Total revenue percentage     1.00%    
Agile Assets          
Business Acquisition [Line Items]          
Purchase consideration         $ 237,500,000
Agile Assets | Maximum          
Business Acquisition [Line Items]          
Total revenue percentage         1.00%
v3.24.4
Acquisitions (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details)
$ in Millions, € in Billions
Apr. 03, 2023
USD ($)
Apr. 03, 2023
EUR (€)
Dec. 29, 2023
USD ($)
Dec. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Net tangible assets acquired:          
Goodwill     $ 5,350.6 $ 4,137.9 $ 3,981.5
Transporeon          
Business Acquisition [Line Items]          
Total purchase consideration $ 2,082.6 € 1.9      
Net tangible assets acquired:          
Cash and cash equivalents 12.9        
Accounts receivable, net 41.8        
Other current assets 28.0        
Non-current assets 24.7        
Accounts payable (4.1)        
Accrued compensation and benefits (9.7)        
Deferred revenue (16.5)        
Other current liabilities (47.2)        
Non-current liabilities (20.6)        
Total net tangible assets acquired 9.3        
Total intangible assets acquired 939.8        
Deferred tax liability (256.6)        
Fair value of all assets/liabilities acquired 692.5        
Goodwill 1,390.1        
Transporeon | Customer relationships          
Net tangible assets acquired:          
Total intangible assets acquired $ 759.5        
Estimated Useful Life 11 years 11 years      
Transporeon | Developed product technology          
Net tangible assets acquired:          
Total intangible assets acquired $ 168.4        
Estimated Useful Life 7 years 7 years      
Transporeon | Trade name          
Net tangible assets acquired:          
Total intangible assets acquired $ 11.9        
Estimated Useful Life 5 years 5 years      
v3.24.4
Acquisitions (Financial Information) (Details) - Transporeon
$ in Millions
 12 Months Ended
Dec. 29, 2023
USD ($)
Business Acquisition [Line Items]  
Total revenue $ 124.7
Net loss $ (42.3)
v3.24.4
Acquisitions (Schedule of Pro-Forma Financial Information) (Details) - Transporeon - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Business Acquisition [Line Items]    
Total revenue $ 3,839.2 $ 3,831.2
Net income $ 273.0 $ 308.6
v3.24.4
Divestitures (Narrative) (Details)
$ in Millions
 12 Months Ended
Sep. 28, 2023
USD ($)
Dec. 29, 2023
USD ($)
business
Dec. 30, 2022
USD ($)
business
Dec. 31, 2021
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Net proceeds from divestitures   $ 17.0 $ 215.4 $ 67.3
Joint Venture        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Ownership percentage (in percent) 15.00%      
Supply agreement term (in years) 7 years      
Joint Venture | AGCO Corporation        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Ownership percentage (in percent) 85.00%      
Disposal Group, Disposed of by Sale, Not Discontinued Operations        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of business disposed | business   5 6  
Net proceeds from divestitures   $ 18.7 $ 226.3  
Trimble Ag | Held-for-sale        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Pre-tax cash proceeds $ 2,000.0      
Time and Frequency, LOADRITE, Spectra Precision Tools, and SECO | Disposal Group, Disposed of by Sale, Not Discontinued Operations        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Net proceeds from divestitures     $ 205.1  
v3.24.4
Divestitures (Assets and Liabilities Classified As Held For Sale) (Details) - Trimble Ag - Held-for-sale
$ in Millions
Dec. 29, 2023
USD ($)
Assets  
Cash and cash equivalents $ 9.1
Accounts receivable, net 12.1
Inventories, net 84.2
Other current assets 3.4
Property and equipment, net 20.7
Other purchased intangible assets, net 20.3
Goodwill 268.1
Other non-current assets 3.3
Total Assets Held for Sale 421.2
Liabilities  
Accounts payable 1.8
Deferred revenue, current 14.3
Other current liabilities 16.0
Deferred revenue, non-current 8.3
Other non-current liabilities 7.9
Total Liabilities Held for Sale $ 48.3
v3.24.4
Intangible Assets and Goodwill (Schedule Of Intangible Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 2,314.9 $ 1,706.4
Accumulated Amortization (1,071.4) (1,208.3)
Total 1,243.5 498.1
Write off of assets $ 267.8 79.9
Impairment Of Intangible Asset Finite Lived, Statement Of Income Or Comprehensive Income, Extensible Enumeration Not Disclosed Flag 79.9 million  
Developed product technology    
Acquired Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Useful Lives (in years) 6 years  
Gross Carrying Amount $ 908.5 1,004.8
Accumulated Amortization (554.1) (722.7)
Total $ 354.4 282.1
Customer relationships    
Acquired Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Useful Lives (in years) 10 years  
Gross Carrying Amount $ 1,358.4 654.1
Accumulated Amortization (474.5) (445.9)
Total $ 883.9 208.2
Trade names and trademarks    
Acquired Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Useful Lives (in years) 6 years  
Gross Carrying Amount $ 43.8 39.5
Accumulated Amortization (38.6) (32.7)
Total $ 5.2 6.8
Distribution rights and other intellectual property    
Acquired Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Useful Lives (in years) 7 years  
Gross Carrying Amount $ 4.2 8.0
Accumulated Amortization (4.2) (7.0)
Total $ 0.0 $ 1.0
v3.24.4
Intangible Assets and Goodwill (Schedule Of Estimated Future Amortization Expense) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]    
2024 $ 200.4  
2025 168.6  
2026 163.4  
2027 149.7  
2028 135.6  
Thereafter 425.8  
Total $ 1,243.5 $ 498.1
v3.24.4
Intangible Assets and Goodwill (Changes In Carrying Amount Of Goodwill By Operating Segment) (Details)
$ in Millions
 12 Months Ended
Dec. 29, 2023
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 4,137.9
Additions due to acquisitions 1,417.8
Assets held for sale (268.1)
Foreign currency translation and other adjustments 63.0
Goodwill, ending balance 5,350.6
Buildings and Infrastructure  
Goodwill [Roll Forward]  
Goodwill, beginning balance 2,300.1
Additions due to acquisitions 27.7
Assets held for sale 0.0
Foreign currency translation and other adjustments 19.5
Goodwill, ending balance 2,347.3
Geospatial  
Goodwill [Roll Forward]  
Goodwill, beginning balance 382.1
Additions due to acquisitions 0.0
Assets held for sale (1.9)
Foreign currency translation and other adjustments 4.9
Goodwill, ending balance 385.1
Resources and Utilities  
Goodwill [Roll Forward]  
Goodwill, beginning balance 471.8
Additions due to acquisitions 0.0
Assets held for sale (266.2)
Foreign currency translation and other adjustments 10.8
Goodwill, ending balance 216.4
Transportation  
Goodwill [Roll Forward]  
Goodwill, beginning balance 983.9
Additions due to acquisitions 1,390.1
Assets held for sale 0.0
Foreign currency translation and other adjustments 27.8
Goodwill, ending balance $ 2,401.8
v3.24.4
Certain Balance Sheet Components (Components Of Net Inventories) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]      
Raw materials $ 88.4 $ 154.9  
Work-in-process 3.0 13.1  
Finished goods 144.3 234.5  
Total inventories 235.7 402.5 $ 363.3
Deferred costs, current $ 11.3 $ 16.9  
v3.24.4
Certain Balance Sheet Components (Components Of Property And Equipment) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 553.0 $ 578.5
Less: accumulated depreciation (350.5) (359.5)
Total property and equipment, net 202.5 219.0
Land, building, furniture, and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 237.4 244.4
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 170.0 177.6
Software and licenses    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 131.6 146.4
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 14.0 $ 10.1
v3.24.4
Certain Balance Sheet Components (Components Of Accumulated Other Comprehensive Loss, Net Of Related Tax) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Balance Sheet Related Disclosures [Abstract]    
Accumulated foreign currency translation adjustments $ (158.0) $ (241.6)
Gain on cash flow hedge 4.7 5.4
Net unrealized actuarial gains 1.2 1.3
Total accumulated other comprehensive loss $ (152.1) $ (234.9)
v3.24.4
Reporting Segment And Geographic Information (Schedule Of Revenue, Operating Income And Identifiable Assets By Segment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Segment revenue $ 3,798.7 $ 3,676.3 $ 3,659.4
Segment operating income 448.8 510.9 561.0
Segments Revenue      
Segment Reporting Information [Line Items]      
Segment revenue 3,798.7 3,676.3 3,659.4
Segment operating income 1,050.7 964.8 963.2
Buildings and Infrastructure      
Segment Reporting Information [Line Items]      
Segment revenue 1,593.1 1,494.0 1,422.7
Buildings and Infrastructure | Segments Revenue      
Segment Reporting Information [Line Items]      
Segment revenue   1,494.0 1,422.7
Segment operating income 440.8 406.3 411.7
Geospatial      
Segment Reporting Information [Line Items]      
Segment revenue 695.5 756.5 828.9
Geospatial | Segments Revenue      
Segment Reporting Information [Line Items]      
Segment revenue   756.5 828.9
Segment operating income 209.1 221.4 244.1
Resources and Utilities      
Segment Reporting Information [Line Items]      
Segment revenue 769.1 821.6 771.3
Resources and Utilities | Segments Revenue      
Segment Reporting Information [Line Items]      
Segment revenue   821.6 771.3
Segment operating income 270.6 278.3 264.0
Transportation      
Segment Reporting Information [Line Items]      
Segment revenue 741.0 604.2 636.5
Transportation | Segments Revenue      
Segment Reporting Information [Line Items]      
Segment revenue   604.2 636.5
Segment operating income $ 130.2 $ 58.8 $ 43.4
v3.24.4
Reporting Segment And Geographic Information (Segment Select Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Accounts receivable, net $ 706.6 $ 643.3 $ 624.8
Inventories 235.7 402.5 363.3
Goodwill 5,350.6 4,137.9 3,981.5
Buildings and Infrastructure      
Segment Reporting Information [Line Items]      
Accounts receivable, net 314.1 305.1 246.8
Inventories 65.0 93.2 79.3
Goodwill 2,347.3 2,300.1 2,141.4
Geospatial      
Segment Reporting Information [Line Items]      
Accounts receivable, net 125.0 137.2 134.0
Inventories 115.8 146.1 136.4
Goodwill 385.1 382.1 403.6
Resources and Utilities      
Segment Reporting Information [Line Items]      
Accounts receivable, net 92.5 79.2 112.9
Inventories 11.1 100.3 67.4
Goodwill 216.4 471.8 440.8
Transportation      
Segment Reporting Information [Line Items]      
Accounts receivable, net 175.0 121.8 131.1
Inventories 43.8 62.9 80.2
Goodwill $ 2,401.8 $ 983.9 $ 995.7
v3.24.4
Reporting Segment And Geographic Information (Reconciliation Of The Company's Consolidated Segment Operating Income To Consolidated Income Before Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Consolidated operating income $ 448.8 $ 510.9 $ 561.0
Unallocated general corporate expenses (1,884.0) (1,594.7) (1,473.7)
Purchase accounting adjustments (212.3) (131.6) (134.5)
Acquisition / divestiture items (72.4) (32.8) (21.8)
Stock-based compensation / deferred compensation (151.1) (112.0) (128.6)
Restructuring and other costs (50.1) (54.2) (11.1)
Total non-operating income (expense), net (91.8) 58.2 13.6
Consolidated income before taxes 357.0 569.1 574.6
Segments Revenue      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Consolidated operating income 1,050.7 964.8 963.2
Non-Segment      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Unallocated general corporate expenses $ (116.0) $ (123.3) $ (106.2)
v3.24.4
Reporting Segment And Geographic Information (Segment Revenue by Geography) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Revenue from External Customer [Line Items]      
Segment revenue $ 3,798.7 $ 3,676.3 $ 3,659.4
Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 3,798.7 3,676.3 3,659.4
Buildings and Infrastructure      
Revenue from External Customer [Line Items]      
Segment revenue 1,593.1 1,494.0 1,422.7
Buildings and Infrastructure | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue   1,494.0 1,422.7
Geospatial      
Revenue from External Customer [Line Items]      
Segment revenue 695.5 756.5 828.9
Geospatial | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue   756.5 828.9
Resources and Utilities      
Revenue from External Customer [Line Items]      
Segment revenue 769.1 821.6 771.3
Resources and Utilities | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue   821.6 771.3
Transportation      
Revenue from External Customer [Line Items]      
Segment revenue 741.0 604.2 636.5
Transportation | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue   604.2 636.5
North America | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 2,018.5 1,955.2 1,866.1
North America | Buildings and Infrastructure | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 1,026.0 938.1 823.5
North America | Geospatial | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 300.2 320.7 337.3
North America | Resources and Utilities | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 217.5 227.0 212.2
North America | Transportation | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 474.8 469.4 493.1
Europe | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 1,076.2 1,037.9 1,124.6
Europe | Buildings and Infrastructure | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 338.1 337.1 386.6
Europe | Geospatial | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 213.3 247.8 282.3
Europe | Resources and Utilities | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 328.9 374.3 368.4
Europe | Transportation | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 195.9 78.7 87.3
Asia Pacific | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 428.9 415.1 447.3
Asia Pacific | Buildings and Infrastructure | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 196.6 192.8 188.4
Asia Pacific | Geospatial | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 141.9 140.3 161.4
Asia Pacific | Resources and Utilities | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 56.9 51.7 67.3
Asia Pacific | Transportation | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 33.5 30.3 30.2
Rest of World | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 275.1 268.1 221.4
Rest of World | Buildings and Infrastructure | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 32.4 26.0 24.2
Rest of World | Geospatial | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 40.1 47.7 47.9
Rest of World | Resources and Utilities | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue 165.8 168.6 123.4
Rest of World | Transportation | Segments Revenue      
Revenue from External Customer [Line Items]      
Segment revenue $ 36.8 $ 25.8 $ 25.9
v3.24.4
Reporting Segment And Geographic Information (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Segment revenue $ 3,798.7 $ 3,676.3 $ 3,659.4
United States      
Segment Reporting Information [Line Items]      
Segment revenue $ 1,855.2 $ 1,777.4 $ 1,687.4
v3.24.4
Reporting Segment And Geographic Information (Schedule of Components Of Property and Equipment) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net $ 202.5 $ 219.0
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 153.8 157.7
Europe    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net 28.0 40.3
Asia Pacific and Rest of World    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property and equipment, net $ 20.7 $ 21.0
v3.24.4
Debt (Schedule Of Debt) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Debt Instrument [Line Items]    
2024 $ 530.4  
Unamortized discount and issuance costs (13.8) $ (5.0)
Total debt 3,066.6 1,520.0
Less: Short-term debt 530.4  
Less: Short-term debt   300.0
Long-term debt $ 2,536.2 1,220.0
Uncommitted Facilities, floating rate    
Debt Instrument [Line Items]    
Effective interest rate 5.06%  
2024 $ 130.4 0.0
Revolving Credit Facility | Line of Credit    
Debt Instrument [Line Items]    
Effective interest rate 6.71%  
Debt, gross $ 150.0 225.0
Senior Notes, 4.15%, due June 2023 | Senior Notes    
Debt Instrument [Line Items]    
Fixed rate 4.15%  
Debt, gross $ 0.0 300.0
Senior Notes, 4.75%, due December 2024 | Senior Notes    
Debt Instrument [Line Items]    
Fixed rate 4.75%  
Effective interest rate 4.95%  
Debt, gross $ 400.0 400.0
Senior Notes, 4.90%, due June 2028 | Senior Notes    
Debt Instrument [Line Items]    
Fixed rate 4.90%  
Effective interest rate 5.04%  
Debt, gross $ 600.0 600.0
Senior Notes, 6.10%, due March 2033 | Senior Notes    
Debt Instrument [Line Items]    
Fixed rate 6.10%  
Effective interest rate 6.13%  
Debt, gross $ 800.0 0.0
Term Loan, due April 2026 | Unsecured Debt | Line of Credit    
Debt Instrument [Line Items]    
Effective interest rate 6.99%  
Debt, gross $ 500.0 0.0
Term Loan, due April 2028 | Unsecured Debt | Line of Credit    
Debt Instrument [Line Items]    
Effective interest rate 7.12%  
Debt, gross $ 500.0 $ 0.0
v3.24.4
Debt (Schedule of Debt Maturities) (Details)
$ in Millions
Dec. 29, 2023
USD ($)
Debt Disclosure [Abstract]  
2024 $ 530.4
2025 0.0
2026 518.8
2027 193.7
2028 1,037.5
Thereafter 800.0
Total $ 3,080.4
v3.24.4
Debt (Narrative) (Details)
€ in Millions
 1 Months Ended
Apr. 03, 2023
USD ($)
Mar. 09, 2023
EUR (€)
Dec. 27, 2022
USD ($)
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Dec. 29, 2023
USD ($)
loan
Dec. 29, 2023
EUR (€)
loan
Dec. 27, 2022
EUR (€)
Dec. 11, 2022
EUR (€)
Bridge Loan                  
Debt Instrument [Line Items]                  
Principal amount | €               € 500.0  
Extinguishment of debt, amount | €   € 500.0              
Unsecured Facility | Line of Credit                  
Debt Instrument [Line Items]                  
Principal amount | €                 € 1,880.0
Uncommitted Revolving Credit Facilities $75 million                  
Debt Instrument [Line Items]                  
Number of revolving loan facilities | loan           2 2    
Current borrowing capacity           $ 75,000,000.0      
Uncommitted Revolving Credit Facilities 100 million euros                  
Debt Instrument [Line Items]                  
Number of revolving loan facilities | loan           1 1    
Current borrowing capacity | €             € 100.0    
Line of Credit | Unsecured Debt                  
Debt Instrument [Line Items]                  
Principal amount     $ 1,000,000,000            
Line of Credit | Revolving Credit Facility                  
Debt Instrument [Line Items]                  
Principal amount     600,000,000   $ 1,250,000,000        
Debt instrument, term (in years)         5 years        
Additional capacity         $ 500,000,000        
Proceeds from debt $ 225,000,000                
Senior Notes Due 2033 | Senior Notes                  
Debt Instrument [Line Items]                  
Debt amount       $ 800,000,000          
Debt instrument, interest rate (in percent)       6.10%          
Debt instrument, redemption price, percentage of principal amount redeemed (in percent)       99.843%          
Term Loan, due April 2026 | Line of Credit | Unsecured Debt                  
Debt Instrument [Line Items]                  
Principal amount     $ 500,000,000            
Debt instrument, term (in years)     3 years            
Term Loan, due April 2028 | Line of Credit | Unsecured Debt                  
Debt Instrument [Line Items]                  
Principal amount     $ 500,000,000            
Debt instrument, term (in years)     5 years            
v3.24.4
Leases (Narratives) (Details)
$ in Millions
Dec. 29, 2023
USD ($)
Lessee, Lease, Description [Line Items]  
Operating lease, Liability, leases not commenced $ 21.5
Minimum  
Lessee, Lease, Description [Line Items]  
Operating lease term (in years) 1 year
Lease not yet commenced, term of contract (in years) 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Operating lease term (in years) 12 years
Operating lease, renewal term (in years) 10 years
Lease not yet commenced, term of contract (in years) 11 years
v3.24.4
Leases (Operating Lease Expenses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Leases [Abstract]      
Operating lease expense $ 33.5 $ 36.3 $ 35.5
Short-term lease expense and other 17.1 14.8 17.8
Total lease expense $ 50.6 $ 51.1 $ 53.3
v3.24.4
Leases (Supplement Cash Flow Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Leases [Abstract]      
Operating cash flows from operating leases $ 31.0 $ 35.0 $ 35.9
Right-of-use assets obtained in exchange for Operating lease liabilities: 47.0 26.3 $ 49.5
Operating lease right-of-use assets 124.0 121.2  
Other current liabilities 29.1 35.0  
Operating lease liabilities 121.9 105.1  
Total operating lease liabilities $ 151.0 $ 140.1  
Weighted-average discount rate 4.27% 3.30%  
Weighted-average remaining lease term 7 years 6 years  
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other current liabilities Other current liabilities  
v3.24.4
Leases (Lease Liabilities Maturity By Year) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Leases [Abstract]    
2024 $ 34.6  
2025 29.3  
2026 25.0  
2027 20.3  
2028 16.4  
Thereafter 47.9  
Total lease payments 173.5  
Less: imputed interest 22.5  
Total $ 151.0 $ 140.1
v3.24.4
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Commitments and Contingencies Disclosure [Abstract]    
Unconditional purchase obligations $ 618.9 $ 858.8
v3.24.4
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag Other current assets Other current assets
Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets $ 31.2 $ 31.5
Derivatives assets 0.3 18.0
Contingent consideration assets 0.3 3.1
Total assets measured at fair value 31.8 52.6
Deferred compensation plan liabilities 31.2 31.5
Derivatives liabilities 0.3 0.2
Total liabilities measured at fair value 31.5 31.7
Recurring | (Level I)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 31.2 31.5
Derivatives assets 0.0 0.0
Contingent consideration assets 0.0 0.0
Total assets measured at fair value 31.2 31.5
Deferred compensation plan liabilities 31.2 31.5
Derivatives liabilities 0.0 0.0
Total liabilities measured at fair value 31.2 31.5
Recurring | (Level II)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 0.0 0.0
Derivatives assets 0.3 18.0
Contingent consideration assets 0.0 0.0
Total assets measured at fair value 0.3 18.0
Deferred compensation plan liabilities 0.0 0.0
Derivatives liabilities 0.3 0.2
Total liabilities measured at fair value 0.3 0.2
Recurring | (Level III)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation plan assets 0.0 0.0
Derivatives assets 0.0 0.0
Contingent consideration assets 0.3 3.1
Total assets measured at fair value 0.3 3.1
Deferred compensation plan liabilities 0.0 0.0
Derivatives liabilities 0.0 0.0
Total liabilities measured at fair value $ 0.0 $ 0.0
v3.24.4
Fair Value Measurements (Narrative) (Details) - USD ($)
$ in Billions
Dec. 29, 2023
Dec. 30, 2022
Debt | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt outstanding $ 3.1 $ 1.5
v3.24.4
Deferred Revenue And Remaining Performance Obligations (Schedule of Deferred Revenue and Performance Obligations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Contract With Customer, Asset And Liability [Roll Forward]    
Beginning balance of the period $ 737.6 $ 631.8
Revenue recognized from prior year-end (607.8) (511.5)
Billings net of revenue recognized from current year 631.6 617.3
Ending balance of the period $ 761.4 $ 737.6
v3.24.4
Deferred Revenue And Remaining Performance Obligations (Narrative) (Details)
$ in Billions
Dec. 29, 2023
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-30  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1.2
Remaining performance obligation, percentage 70.00%
Period of recognition 12 months
v3.24.4
Income Taxes (Schedule Of Provision For Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Income before taxes, united states $ 26.9 $ 117.7 $ 144.0
Income before taxes, foreign 330.1 451.4 430.6
Income before taxes 357.0 569.1 574.6
U.S. Federal:      
Current 57.1 98.4 27.1
Deferred (92.5) (97.7) (22.9)
US federal, income tax provision (35.4) 0.7 4.2
U.S. State:      
Current 12.8 12.6 5.6
Deferred (6.6) (5.0) (2.5)
US state, income tax provision 6.2 7.6 3.1
Foreign:      
Current 80.4 48.4 76.0
Deferred (5.5) 62.7 (1.5)
Foreign, income tax provision 74.9 111.1 74.5
Income tax provision $ 45.7 $ 119.4 $ 81.8
Effective tax rate 12.80% 21.00% 14.20%
v3.24.4
Income Taxes (Schedule Of Difference Between The Tax Provision At The Statutory Federal Income Tax Rate And The Tax Provision (Benefit) As A Percentage Of Income Before Taxes (Effective Tax Rate)) (Details)
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Statutory federal income tax rate 21.00% 21.00% 21.00%
Foreign income taxed at different rates 0.80% 4.40% 0.50%
U.S. State income taxes 1.00% 1.00% 1.10%
Stock-based compensation 4.80% 1.20% (0.80%)
Other U.S. taxes on foreign operations (4.40%) (3.10%) (1.60%)
Foreign-derived intangible income (3.90%) (0.40%) 0.00%
U.S. Federal research and development credits (5.40%) (2.20%) (2.10%)
Tax reserve releases (2.50%) (1.80%) (2.10%)
Intellectual property restructuring and tax law changes 0.00% 0.00% (2.50%)
Other 1.40% 0.90% 0.70%
Effective tax rate 12.80% 21.00% 14.20%
v3.24.4
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Jan. 01, 2021
Operating Loss Carryforwards [Line Items]        
Effective tax rate 12.80% 21.00% 14.20%  
Foreign earnings repatriated $ 371.3      
Unrecognized tax benefits 88.3 $ 76.5 $ 64.2 $ 64.1
Unrecognized tax benefits that would impact effective tax rate 59.5 51.6    
Payment of interest and penalties 9.9 $ 8.4    
IRS        
Operating Loss Carryforwards [Line Items]        
Net operating loss carryforwards 19.1      
Foreign Tax Authority        
Operating Loss Carryforwards [Line Items]        
Net operating loss carryforwards 86.3      
California Franchise Tax Board | Research Tax Credit Carryforward        
Operating Loss Carryforwards [Line Items]        
Tax credit carryforward $ 35.3      
v3.24.4
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($)
$ in Millions
Dec. 29, 2023
Dec. 30, 2022
Deferred tax liabilities:    
Global intangible low-taxed income $ 105.8 $ 137.8
Purchased intangibles 373.6 121.1
Operating lease right-of-use assets 30.2 29.0
Other 19.7 16.1
Total deferred tax liabilities 529.3 304.0
Deferred tax assets:    
Depreciation and amortization 368.2 400.0
Capitalized research and development 98.4 67.5
Operating lease liabilities 36.2 32.8
U.S. tax credit carryforwards 23.5 25.6
Expenses not currently deductible 26.5 30.9
Net operating loss carryforwards 17.9 20.0
Stock-based compensation 16.7 13.8
Intercompany prepayments 36.6 0.0
Other 60.8 36.6
Total deferred tax assets 684.8 627.2
Valuation allowance (31.0) (42.6)
Total deferred tax assets 653.8 584.6
Total net deferred tax assets 124.5 280.6
Non-current deferred income tax assets 412.3 438.4
Non-current deferred income tax liabilities $ (287.8) $ (157.8)
v3.24.4
Income Taxes (Schedule Of Reconciliation Of Unrecognized Tax Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balance $ 76.5 $ 64.2 $ 64.1
Increase related to current year tax positions 12.4 23.0 9.6
(Decrease) increase related to prior years' tax positions 7.6   1.3
(Decrease) increase related to prior years' tax positions   (0.7)  
Settlement with taxing authorities 0.0 0.0 (1.3)
Lapse of statute of limitations (8.2) (10.0) (9.5)
Ending balance $ 88.3 $ 76.5 $ 64.2
v3.24.4
Employee Stock Benefit Plans (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
May 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Unamortized stock-based compensation expense $ 214.9      
Unamortized compensation expense weighted-average recognition period (in years) 1 year 9 months 18 days      
Common stock, shares authorized (in shares) 360,000,000.0 360,000,000.0    
Restricted stock units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Weighted average grant-date fair value, granted (in usd per share) $ 49.93 $ 73.32 $ 78.44  
Share-based compensation, equity instruments other than options, vested in period, fair value $ 110.1 $ 108.3 $ 81.4  
ESPP        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share-based compensation, number of shares available (in shares) 4,600,000      
Common stock, shares authorized (in shares) 39,000,000      
Percentage of lower fair market value to be purchased of common stock through payroll deductions (in percent) 85.00%      
Employee stock options granted term (in months) 6 months      
Stock issued during period, shares, employee stock purchase plans (in shares) 800,000 600,000 600,000  
Stock issued during period, value, employee stock purchase plan $ 35.7 $ 34.7 $ 33.4  
Minimum | Performance-Based Restricted Stock Units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Percentage of the target grant amount received at vesting (in percent) 0.00%      
Maximum | Performance-Based Restricted Stock Units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Percentage of the target grant amount received at vesting (in percent) 220.00%      
Two Thousand Two Stock Plan        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Maximum number of shares authorized for grant (in shares) 92,600,000     18,000,000
Share-based compensation, number of shares available (in shares) 11,500,000      
Two Thousand Two Stock Plan | Performance-Based Restricted Stock Units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share units granted vesting period (in years) 3 years      
Two Thousand Two Stock Plan | Minimum | Time Based Restricted Stock Units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share units granted vesting period (in years) 2 years      
Two Thousand Two Stock Plan | Maximum | Time Based Restricted Stock Units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Share units granted vesting period (in years) 3 years      
v3.24.4
Employee Stock Benefit Plans (Components of Stock-based Compensation Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense $ 145.4 $ 120.4 $ 122.6
Cost of sales      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense 14.6 12.6 9.5
Research and development      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense 40.7 28.0 29.5
Sales and marketing      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense 27.1 24.6 21.5
General and administrative      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense 63.0 55.2 62.1
Restricted stock units      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense 132.8 108.7 110.5
Stock options      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense 1.8 1.1 1.3
ESPP      
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Total stock-based compensation expense $ 10.8 $ 10.6 $ 10.8
v3.24.4
Employee Stock Benefit Plans (Schedule Of Restricted Stock Units Activity) (Details) - $ / shares
shares in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Restricted stock units      
Number of Units      
Number of units, outstanding at the beginning of year (in shares) 4.0    
Number of units, granted (in shares) 3.9    
Number of units, shares vested, net (in shares) (1.7)    
Number of units, cancelled and forfeited (in shares) (0.7)    
Number of units, outstanding at the end of year (in shares) 5.5 4.0  
Weighted Average Grant-Date Fair Value per Share      
Weighted average grant-date fair value, outstanding at the beginning of year (in usd per share) $ 67.32    
Weighted average grant-date fair value, granted (in usd per share) 49.93 $ 73.32 $ 78.44
Weighted average grant-date fair value, shares vested, net (in usd per share) 61.44    
Weighted average grant-date fair value, canceled and forfeited (in usd per share) 56.39    
Weighted average grant-date fair value, outstanding at the end of year (in usd per share) $ 58.23 $ 67.32  
Performance-Based Restricted Stock Units      
Number of Units      
Number of units, granted (in shares) 0.9    
Number of units, shares vested, net (in shares) (0.1)    
Number of units, cancelled and forfeited (in shares) (0.2)    
Number of units, outstanding at the end of year (in shares) 1.2    
Performance-Based Stock Units, Achievement Of Company Performance Metrics      
Number of Units      
Number of units, cancelled and forfeited (in shares) (0.1)    
Weighted Average Grant-Date Fair Value per Share      
Performance adjustments above target levels at vesting date (in shares) 0.1    
v3.24.4
Common Stock Repurchase (Details) - USD ($)
$ / shares in Units, shares in Millions
 12 Months Ended
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Jan. 28, 2024
Aug. 31, 2021
Equity, Class of Stock [Line Items]          
Stock repurchases $ 100,000,000.0 $ 394,700,000 $ 180,000,000.0    
Retained Earnings          
Equity, Class of Stock [Line Items]          
Stock repurchases 79,000,000.0 $ 347,000,000.0 $ 164,300,000    
2021 Stock Repurchased Program          
Equity, Class of Stock [Line Items]          
Stock repurchase program approved amount         $ 750,000,000
Remaining amount authorized $ 115,300,000        
Stock repurchased (in shares) 2.4 6.0      
Shares repurchased (in usd per share) $ 42.50 $ 65.90      
Stock repurchases $ 100,000,000 $ 394,700,000      
2024 Stock Repurchased Program | Subsequent Event          
Equity, Class of Stock [Line Items]          
Stock repurchase program approved amount       $ 800,000,000  
2021 and 2017 Stock Repurchased Program          
Equity, Class of Stock [Line Items]          
Stock repurchased (in shares)     2.1    
Shares repurchased (in usd per share)     $ 85.75    
Stock repurchases     $ 180,000,000    
v3.24.4
Subsequent Events (Details)
 12 Months Ended
Dec. 29, 2023
segment
Subsequent Event [Line Items]  
Number of reportable segments 4