RESIDEO TECHNOLOGIES, INC., 10-Q filed on 8/5/2025
Quarterly Report
v3.25.2
Cover - shares
 6 Months Ended
Jun. 28, 2025
Jul. 28, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 28, 2025  
Document Transition Report false  
Entity File Number 001-38635  
Entity Registrant Name Resideo Technologies, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 82-5318796  
Entity Address, Address Line One 16100 N. 71st Street  
Entity Address, Address Line Two Suite 550  
Entity Address, City or Town Scottsdale  
Entity Address, State or Province AZ  
Entity Address, Postal Zip Code 85254  
City Area Code 480  
Local Phone Number 573-5340  
Title of 12(b) Security Common Stock, par value $0.001 per share  
Trading Symbol REZI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   148,763,403
Amendment Flag false  
Document Fiscal Period Focus Q2  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Entity Central Index Key 0001740332  
v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 753 $ 692
Accounts receivable, net 1,135 1,023
Inventories, net 1,259 1,237
Other current assets 245 220
Total current assets 3,392 3,172
Property, plant and equipment, net 426 410
Goodwill 3,126 3,072
Intangible assets, net 1,137 1,176
Other assets 434 369
Total assets 8,515 8,199
Current liabilities:    
Accounts payable 1,102 1,073
Accrued liabilities 655 577
Current obligations payable under the Indemnification Agreement 1,625 140
Total current liabilities 3,382 1,790
Long-term debt 1,983 1,983
Non-current obligations payable under the Indemnification Agreement 0 583
Other liabilities 536 534
Total liabilities 5,901 4,890
COMMITMENTS AND CONTINGENCIES
Stockholders’ equity    
Preferred stock, $0.001 par value: 100 shares authorized, 0.5 shares issued and outstanding at June 28, 2025 and December 31, 2024 482 482
Common stock, $0.001 par value: 700 shares authorized, 156 and 149 shares issued and outstanding at June 28, 2025, respectively, and 154 and 147 shares issued and outstanding at December 31, 2024, respectively 0 0
Additional paid-in capital 2,349 2,315
Retained earnings 71 907
Accumulated other comprehensive loss, net (161) (284)
Treasury stock at cost (127) (111)
Total stockholders’ equity 2,614 3,309
Total liabilities and stockholders’ equity $ 8,515 $ 8,199
v3.25.2
Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 28, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 100,000,000 100,000,000
Preferred stock, shares issued (in shares) 500,000  
Preferred stock, shares outstanding (in shares)   500,000
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 700,000,000 700,000,000
Common stock, shares issued (in shares) 156,000,000 154,000,000
Common stock, shares outstanding (in shares) 149,000,000 147,000,000
v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Income Statement [Abstract]        
Net revenue $ 1,943 $ 1,589 $ 3,713 $ 3,075
Cost of goods sold 1,374 1,142 2,633 2,228
Gross profit 569 447 1,080 847
Operating expenses:        
Research and development expenses 41 21 76 46
Selling, general and administrative expenses 319 280 625 511
Intangible asset amortization 30 13 60 22
Restructuring, impairment and extinguishment costs 2 11 6 18
Total operating expenses 392 325 767 597
Income from operations 177 122 313 250
Indemnification Agreement expense 882 47 972 90
Other expenses, net 9 1 15 0
Interest expense, net 24 15 49 28
Net (loss) income before taxes (738) 59 (723) 132
Provision for income taxes 87 29 96 59
Net (loss) income (825) 30 (819) 73
Less: preferred stock dividends 8 2 17 2
Net (loss) income available to common stockholders, basic (833) 28 (836) 71
Net (loss) income available to common stockholders, diluted $ (833) $ 28 $ (836) $ 71
(Loss) earnings per common share:        
Basic (in dollars per share) $ (5.59) $ 0.19 $ (5.65) $ 0.49
Diluted (in dollars per share) $ (5.59) $ 0.19 $ (5.65) $ 0.48
Weighted average common shares outstanding:        
Basic (in shares) 149 146 148 146
Diluted (in shares) 149 149 148 148
v3.25.2
Consolidated Statements of Comprehensive (Loss) Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Statement of Comprehensive Income [Abstract]        
Net (loss) income $ (825) $ 30 $ (819) $ 73
Other comprehensive income (loss), net of tax:        
Foreign exchange translation gain (loss) 88 (12) 129 (43)
Changes in fair value of effective cash flow hedges (3) (4) (6) (5)
Total other comprehensive income (loss), net of tax 85 (16) 123 (48)
Comprehensive (loss) income $ (740) $ 14 $ (696) $ 25
v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Cash Flows From Operating Activities:    
Net (loss) income $ (819) $ 73
Adjustments to reconcile net (loss) income to net cash in operating activities:    
Depreciation and amortization 96 52
Restructuring, impairment and extinguishment costs 6 18
Stock-based compensation expense 30 29
Other, net 8 (1)
Changes in assets and liabilities, net of acquired companies:    
Accounts receivable, net (85) (57)
Inventories, net 4 (4)
Other current assets (26) 9
Accounts payable 8 31
Accrued liabilities 73 (78)
Obligations payable under the Indemnification Agreement 902 20
Other, net (62) 2
Net cash provided by operating activities 135 94
Cash Flows From Investing Activities:    
Acquisitions, net of cash acquired 0 (1,334)
Capital expenditures (51) (36)
Other investing activities, net 0 6
Net cash used in investing activities (51) (1,364)
Cash Flows From Financing Activities:    
Proceeds from issuance of long-term debt, net 0 582
Proceeds from issuance of preferred stock, net of issuance costs 0 482
Repayments of long-term debt (2) (6)
Acquisition of treasury shares to cover stock award tax withholding (16) (9)
Preferred stock dividend payments (17) 0
Other financing activities, net 2 3
Net cash (used in) provided by financing activities (33) 1,052
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 10 (5)
Net increase (decrease) in cash, cash equivalents and restricted cash 61 (223)
Cash, cash equivalents and restricted cash at beginning of period 693 637
Cash, cash equivalents and restricted cash at end of period $ 754 $ 414
v3.25.2
Consolidated Statements of Stockholders’ Equity - USD ($)
$ in Millions
Total
Preferred Stock
Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Preferred stock, shares, beginning balance (in shares) at Dec. 31, 2023   0          
Gains recorded in accumulated other comprehensive loss, beginning of period at Dec. 31, 2023 $ 2,749 $ 0 $ 0 $ 2,226 $ 810 $ (194) $ (93)
Common stock, shares, beginning balance (in shares) at Dec. 31, 2023     145,389,000        
Treasury stock, beginning (in shares) at Dec. 31, 2023             5,536,000
Increase (Decrease) in Stockholders' Equity              
Net (loss) income 73       73    
Other comprehensive income (loss), net of tax (48)         (48)  
Preferred stock issuance, net of issuance costs (in shares)   500,000          
Preferred stock issuance, net of issuance costs 482 $ 482          
Common stock issuance, net of shares withheld for taxes (in shares)     955,000       422,000
Common stock issuance, net of shares withheld for taxes (5)     4     $ (9)
Stock-based compensation awards issued for acquisition of Snap One 17     17      
Stock-based compensation expense 29     29      
Preferred stock dividend (2)       (2)    
Common stock repurchases (1)           $ (1)
Common stock repurchases (in shares)     (75,000)       (75,000)
Preferred stock, shares, ending balance (in shares) at Jun. 29, 2024   500,000          
Gains recorded in accumulated other comprehensive loss, end of period at Jun. 29, 2024 3,294 $ 482 $ 0 2,276 881 (242) $ (103)
Common stock, shares, ending balance (in shares) at Jun. 29, 2024     146,269,000        
Treasury stock, ending (in shares) at Jun. 29, 2024             6,033,000
Preferred stock, shares, beginning balance (in shares) at Mar. 30, 2024   0          
Gains recorded in accumulated other comprehensive loss, beginning of period at Mar. 30, 2024 2,769 $ 0 $ 0 2,243 853 (226) $ (101)
Common stock, shares, beginning balance (in shares) at Mar. 30, 2024     146,013,000        
Treasury stock, beginning (in shares) at Mar. 30, 2024             5,946,000
Increase (Decrease) in Stockholders' Equity              
Net (loss) income 30       30    
Other comprehensive income (loss), net of tax (16)         (16)  
Preferred stock issuance, net of issuance costs (in shares)   500,000          
Preferred stock issuance, net of issuance costs 482 $ 482          
Common stock issuance, net of shares withheld for taxes (in shares)     256,000       87,000
Common stock issuance, net of shares withheld for taxes (1)     1     $ (2)
Stock-based compensation awards issued for acquisition of Snap One 17     17      
Stock-based compensation expense 15     15      
Preferred stock dividend (2)       (2)    
Preferred stock, shares, ending balance (in shares) at Jun. 29, 2024   500,000          
Gains recorded in accumulated other comprehensive loss, end of period at Jun. 29, 2024 $ 3,294 $ 482 $ 0 2,276 881 (242) $ (103)
Common stock, shares, ending balance (in shares) at Jun. 29, 2024     146,269,000        
Treasury stock, ending (in shares) at Jun. 29, 2024             6,033,000
Preferred stock, shares, beginning balance (in shares) at Dec. 31, 2024 500,000 500,000          
Gains recorded in accumulated other comprehensive loss, beginning of period at Dec. 31, 2024 $ 3,309 $ 482 $ 0 2,315 907 (284) $ (111)
Common stock, shares, beginning balance (in shares) at Dec. 31, 2024 147,000,000   147,230,000        
Treasury stock, beginning (in shares) at Dec. 31, 2024             6,436,000
Increase (Decrease) in Stockholders' Equity              
Net (loss) income $ (819)       (819)    
Other comprehensive income (loss), net of tax 123         123  
Common stock issuance, net of shares withheld for taxes (in shares)     1,408,000       744,000
Common stock issuance, net of shares withheld for taxes (14)     2     $ (16)
Stock-based compensation expense 32     32      
Preferred stock dividend (17)       (17)    
Preferred stock, shares, ending balance (in shares) at Jun. 28, 2025   500,000          
Gains recorded in accumulated other comprehensive loss, end of period at Jun. 28, 2025 $ 2,614 $ 482 $ 0 2,349 71 (161) $ (127)
Common stock, shares, ending balance (in shares) at Jun. 28, 2025 149,000,000   148,638,000        
Treasury stock, ending (in shares) at Jun. 28, 2025             7,180,000
Preferred stock, shares, beginning balance (in shares) at Mar. 29, 2025   500,000          
Gains recorded in accumulated other comprehensive loss, beginning of period at Mar. 29, 2025 $ 3,347 $ 482 $ 0 2,333 904 (246) $ (126)
Common stock, shares, beginning balance (in shares) at Mar. 29, 2025     148,493,000        
Treasury stock, beginning (in shares) at Mar. 29, 2025             7,136,000
Increase (Decrease) in Stockholders' Equity              
Net (loss) income (825)       (825)    
Other comprehensive income (loss), net of tax 85         85  
Common stock issuance, net of shares withheld for taxes (in shares)     145,000       44,000
Common stock issuance, net of shares withheld for taxes (1)           $ (1)
Stock-based compensation expense 16     16      
Preferred stock dividend (8)       (8)    
Preferred stock, shares, ending balance (in shares) at Jun. 28, 2025   500,000          
Gains recorded in accumulated other comprehensive loss, end of period at Jun. 28, 2025 $ 2,614 $ 482 $ 0 $ 2,349 $ 71 $ (161) $ (127)
Common stock, shares, ending balance (in shares) at Jun. 28, 2025 149,000,000   148,638,000        
Treasury stock, ending (in shares) at Jun. 28, 2025             7,180,000
v3.25.2
Nature of Operations and Basis of Presentation
 6 Months Ended
Jun. 28, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Basis of Presentation Nature of Operations and Basis of Presentation
Nature of Operations

Resideo Technologies, Inc. (“Resideo”, the “Company”, “we”, “us”, or “our”) is a global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions that help homeowners and businesses stay connected and in control of their comfort, security, energy use, and smart living. We are a leader in key product markets including home heating, ventilation, and air conditioning controls; smoke and carbon monoxide detection home safety and fire suppression products; and security. Our global footprint serves residential and commercial end-markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually.

Basis of Consolidation and Reporting

The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the Unaudited Consolidated Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the Unaudited Consolidated Financial Statements included herein contain all adjustments, which consist of normal recurring adjustments, necessary to fairly present our financial position, results of operations, and cash flows for the periods indicated. For the purpose of comparability, certain prior period amounts have been reclassified to conform to current period classification.

For additional information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Annual Report on Form 10-K”), filed with the United States Securities and Exchange Commission (the “SEC”) on February 20, 2025.

Reporting Period

We report financial information on a fiscal quarter basis using a modified four-four-five week calendar. Our fiscal calendar begins on January 1 and ends on December 31. We have elected the first, second, and third quarters to end on a Saturday in order to not disrupt business processes. The effects of this election are generally not significant to reported results for any quarter and only exist within a reporting year.
v3.25.2
Summary of Significant Accounting Policies
 6 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Our significant accounting policies are detailed in Note 2. Summary of Significant Accounting Policies of the 2024 Annual Report on Form 10-K. There have been no significant changes to these policies that have had a material impact on the Unaudited Consolidated Financial Statements and the accompanying disclosure notes for the six months ended June 28, 2025.

We consider the applicability and impact of all recent accounting standards updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate operating expenses into specific categories, such as purchases of inventory, employee compensation, depreciation, and amortization to provide enhanced transparency into the nature and function of expenses. The guidance is effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. We are currently assessing the impact of adoption to our Consolidated Financial Statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for our
fiscal year ending December 31, 2025. The amendments may be applied prospectively or retrospectively. Other than the new disclosure requirements, the adoption of this guidance will not impact our Consolidated Financial Statements.
v3.25.2
Acquisitions
 6 Months Ended
Jun. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
On June 14, 2024, we acquired 100% of the issued and outstanding equity of Snap One Holdings Corp. (“Snap One”), a leading provider of smart-living products, services, and software to professional integrators, for an aggregate purchase price of $1.4 billion.

During the six months ended June 28, 2025, measurement period adjustments were made to income tax assets and liabilities within the one-year measurement period. As a result, goodwill related to the acquisition decreased by $9 million, reflecting a net decrease in income tax liabilities. We completed accounting for the acquisition of Snap One in June 2025, and the following table presents the final fair values of assets acquired and liabilities assumed as of the date of acquisition.

(in millions)
Assets acquired:
Cash and cash equivalents$47 
Accounts receivable49 
Inventories240 
Other current assets26 
Property, plant and equipment63 
Goodwill (1)
396 
Intangible assets
770 
Other assets69 
Total assets acquired1,660 
Liabilities assumed:
Accounts payable48 
Accrued liabilities69 
Other liabilities (2)
138 
Total liabilities assumed255 
Net assets acquired$1,405 
(1) Of the $396 million of goodwill from the acquisition, $90 million is expected to be tax deductible. Goodwill is comprised of expected synergies for the combined operations and the assembled workforce acquired in the acquisition.
(2) Includes $68 million of deferred tax liabilities.

Unaudited Pro Forma Financial Information

On a pro forma basis, assuming the acquisition occurred at the beginning of 2023, Resideo’s net revenue for the three and six months ended June 29, 2024, would have been $1,804 million and $3,536 million, respectively. Snap One’s contribution to unaudited pro forma operating income is not materially different on a pro forma basis than the amounts reported for both periods. The pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the acquisition had occurred on January 1, 2023, nor are they indicative of future results of operations.
v3.25.2
Segment Financial Data
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segment Financial Data Segment Financial Data
We monitor our operations through two reportable segments: Products and Solutions and ADI Global Distribution, with Corporate reported separately. We identified these segments because we have organized our business and reporting structure into Products and Solutions and ADI Global Distribution. Segment information is evaluated by our Chief Executive Officer who is also the Chief Operating Decision Maker (“CODM”). The CODM uses income from operations to evaluate the performance of the overall business, make investing decisions, and allocate resources predominantly in the annual budget and forecasting process and the monthly results review, which includes variance analysis against the
forecast, the budget, and the prior year. Disaggregated assets by segment are not used to allocate resources or to assess performance of the segments and therefore, segment assets have not been disclosed. Capital expenditures for each segment are reviewed by the CODM. The accounting policies used to derive segment results are substantially the same as those used in preparing the Unaudited Consolidated Financial Statements.

Products and Solutions—Our Products and Solutions segment is a leading building products manufacturer focused on residential controls and sensing solutions. Our products and solutions for comfort, energy management, safety, and security benefit from trusted, well-established branded offerings such as Honeywell Home, First Alert, Resideo, Braukmann, BRK, and others. Our offerings include temperature and humidity control, water and air solutions, smoke and carbon monoxide detection home safety products, residential and small business security products, video cameras, other home-related lifestyle convenience solutions, cloud infrastructure, installation and maintenance tools, and related software. We also sell components to manufacturers of water heaters, heat pumps, and boilers.

ADI Global Distribution—Our ADI Global Distribution segment is the leading global wholesale distributor of low-voltage products, including security and audio-visual solutions. With a portfolio of over 500,000 professionally installed products, ADI Global Distribution serves both the commercial and residential markets across key specialty categories including security, fire, audio-visual, access control, smart living, and data communications. This extensive offering is complemented by an expanding suite of proprietary technologies and services, under key exclusive brands such as Control4, OvrC, Araknis Networks, and WattBox.

Corporate—Corporate expenses include costs related to the corporate functions such as the executive function, legal, accounting, tax, treasury, corporate development, human resources, investor relations, and information technology. Additionally, unallocated amounts for restructuring, impairment and extinguishment costs and non-operating items such as, Indemnification Agreement expense, interest income (expense), other income (expense), and provision for income taxes are reported within Corporate.

Segment results of operations for Products and Solutions, including significant segment expenses that are regularly reviewed by the CODM, are included in the table below.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net revenue$666 $630 $1,315 $1,250 
Cost of goods sold380 370 760 745 
Research and development expenses32 21 59 46 
Selling, general and administrative expenses104 103 205 200 
Intangible asset amortization6 6 12 12 
Restructuring expenses2 — 1 5 
Segment income from operations$142 $130 $278 $242 

Segment results of operations for ADI Global Distribution, including significant segment expenses that are regularly reviewed by the CODM, are included in the table below.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net revenue$1,277 $959 $2,398 $1,825 
Cost of goods sold994 773 1,873 1,483 
Research and development expenses9 — 17 — 
Selling, general and administrative expenses179 118 352 220 
Intangible asset amortization23 6 46 9 
Restructuring expenses1 — 5 2 
Segment income from operations$71 $62 $105 $111 
The following table provides a reconciliation of segment income from operations to consolidated (loss) income before taxes.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Segment income from operations
Products and Solutions$142 $130 $278 $242 
ADI Global Distribution71 62 105 111 
Total segment income from operations
213 192 383 353 
Unallocated amounts:
Selling, general and administrative expenses36 59 68 91 
Restructuring, impairment and extinguishment costs(1)11 — 11 
Indemnification Agreement expense882 47 972 90 
Other expenses, net9 1 15 — 
Interest expense, net24 15 49 28 
Other corporate items1 — 2 1 
Net (loss) income before taxes$(738)$59 $(723)$132 

The following table provides detail on other significant segment items that are regularly reviewed by the CODM.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Capital expenditures
Products and Solutions$10 $11 $30 $27 
ADI Global Distribution10 4 21 9 
Total capital expenditures$20 $15 $51 $36 
v3.25.2
Revenue Recognition
 6 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
We have two operating segments: Products and Solutions and ADI Global Distribution. Disaggregated revenue information for Products and Solutions is presented by product grouping, while ADI Global Distribution is presented by region.
The following table presents revenue by business line and geographic location, as we believe this presentation best depicts how the nature, amount, timing, and uncertainty of net revenue and cash flows are affected by economic factors:

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Products and Solutions
Safety and Security$241 $227 $462 $440 
Air220 214 431 405 
Energy131 118 270 252 
Water74 71 152 153 
Total Products and Solutions666 630 1,315 1,250 
ADI Global Distribution
Americas (1)
1,133 840 2,119 1,586 
International (2)
144 119 279 239 
Total ADI Global Distribution1,277 959 2,398 1,825 
Total net revenue$1,943 $1,589 $3,713 $3,075 
(1)Americas represents North, Central, and South America.
(2)International represents all geographies that are not included in Americas.
v3.25.2
Restructuring
 6 Months Ended
Jun. 28, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
During the three and six months ended June 28, 2025, we incurred restructuring expenses of $2 million and $6 million, respectively. During the three and six months ended June 29, 2024, we incurred no restructuring expenses and $7 million of restructuring expenses, respectively. In addition, during the three and six months ended June 29, 2024, we incurred $11 million of impairment and extinguishment costs. These costs are presented in restructuring, impairment and extinguishment costs within the Unaudited Consolidated Statements of Operations.

We took restructuring actions, including capturing synergies from our recent acquisition, to align our cost structure based on our strategic objectives and our outlook of market conditions. The intent of these actions is to lower costs, increase margins, and position us for long-term growth. We expect to fully execute on our restructuring programs over the next 12 to 30 months, and we may incur future additional restructuring expenses associated with these plans or new plans. At this time, we are unable to make a good faith determination of cost estimates, or ranges of cost estimates, associated with future phases of the programs or the total costs we may incur in connection with these programs.

The following table summarizes the status of our restructuring expenses included within accrued liabilities on the Unaudited Consolidated Balance Sheets. Amounts associated with impairment and extinguishment costs are not included in the table below because those amounts are charged directly against the relevant assets and debt, respectively.

Six Months EndedTwelve Months Ended
(in millions)June 28, 2025December 31, 2024
Beginning of period$31 $30 
Charges6 41 
Usage (1)
(14)(40)
End of period$23 $31 
(1) Usage primarily relates to cash payments and shares issued associated with employee termination costs.
v3.25.2
Stockholders’ Equity
 6 Months Ended
Jun. 28, 2025
Stockholders' Equity Note [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Share Repurchase Program

On August 3, 2023, we announced that our Board of Directors authorized a share repurchase program for the repurchase of up to $150 million of our common stock over an unlimited time period (the “Share Repurchase Program”). During the three and six months ended June 28, 2025, there were no common share repurchases. During the three and six months ended June 29, 2024, we repurchased no and 0.1 million shares of common stock, respectively, in the open market at a total cost of $1 million. Common stock repurchases are recorded at cost and presented as a reduction to stockholders’ equity. As of June 28, 2025, we had approximately $108 million of authorized repurchases remaining under the Share Repurchase Program.

Preferred Stock

On June 14, 2024, in connection with our acquisition of Snap One, we issued 500,000 shares of Series A Cumulative Convertible Participating Preferred Stock (“Preferred Stock”) to CD&R Channel Holdings, L.P. (the “CD&R Stockholder”) for an aggregate purchase price of $500 million pursuant to an investment agreement dated April 15, 2024. In connection with the issuance of the Preferred Stock, we incurred direct and incremental expenses of $18 million which reduce the Preferred Stock carrying value.

The Preferred Stock is convertible perpetual participating preferred stock with an initial conversion price equal to $26.92, and accrues dividends at a rate of 7% per annum, payable in cash or in kind. The Preferred Stock votes on an as-converted basis together with common stockholders. The Preferred Stock had an aggregate liquidation preference of $500 million as of June 28, 2025. Preferred Stock dividends accumulated during the three and six months ended June 28, 2025, were $8 million and $17 million, respectively.

The Preferred Stock can be converted into our common stock at the holder’s option at any time. We can also force conversion of all (but not less than all) of the outstanding shares of Preferred Stock if at any time our common stock trading price exceeds 200% of the then-effective conversion price for at least 20 out of 30 trailing trading days. Following the third anniversary of the closing date, we have the option to redeem the Preferred Stock for an aggregate redemption price equal to two times the sum of the Accumulated Amount (as defined in the Certificate of Designations) plus any interim accrued and unpaid dividends (calculated at 1X instead of 2X) on such share of Preferred Stock in effect at the time of redemption. In the event of a change of control, we will have the option to purchase all (but not less than all) of the outstanding shares of Preferred Stock at a price per share equal to 150% of the sum of the Accumulated Amount plus any interim accrued and unpaid dividends (calculated at 100% instead of 150%) on such share of Preferred Stock in effect at the time of such purchase.
v3.25.2
Stock-Based Compensation Plans
 6 Months Ended
Jun. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans Stock-Based Compensation Plans
The following table summarizes awards granted during the relevant periods:

Six Months Ended June 28, 2025Six Months Ended June 29, 2024
(in thousands except for per share amounts)
Number of Stock Units GrantedWeighted average grant date fair value per share
Number of Stock Units Granted (1)
Weighted average grant date fair value per share
Performance Stock Units (“PSUs”) (2)
237$25.56 575$27.96 
Restricted Stock Units (“RSUs”)
1,634$21.22 3,898$19.57 
(1) Includes 2 million RSUs granted as part of the Snap One acquisition for a fair value of $43 million, of which $17 million was included in purchase consideration.
(2) Includes PSUs at target payout. Final common shares issued may be different based upon the actual achievement versus the performance measure target.

For the three and six months ended June 28, 2025, stock-based compensation expense, net of tax was $16 million and $32 million, respectively. For the three and six months ended June 29, 2024, stock-based compensation expense, net of tax was $15 million and $29 million, respectively.
v3.25.2
Inventories, net
 6 Months Ended
Jun. 28, 2025
Inventory Disclosure [Abstract]  
Inventories, net Inventories, net
The following table summarizes the details of our inventories, net:

(in millions)June 28, 2025December 31, 2024
Raw materials$167 $171 
Work in process16 14 
Finished products1,076 1,052 
Total inventories, net$1,259 $1,237 
v3.25.2
Goodwill and Intangible Assets, net
 6 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net Goodwill and Intangible Assets, net
Our goodwill balance and changes in carrying value by segment were as follows:

(in millions)Products and SolutionsADI Global DistributionTotal
Balance as of January 1, 2025$2,015 $1,057 $3,072 
Adjustments (1)
— (9)(9)
Impact of foreign currency translation 41 22 63 
Balance as of June 28, 2025$2,056 $1,070 $3,126 
(1) Related to the measurement period adjustments associated with the Snap One acquisition. Refer to Note 3. Acquisitions for further discussion.

The following table summarizes the net carrying amount of intangible assets:

(in millions)June 28, 2025December 31, 2024
Intangible assets subject to amortization$957 $996 
Indefinite-lived intangible assets180 180 
Total intangible assets$1,137 $1,176 

Intangible assets subject to amortization consisted of the following:

June 28, 2025December 31, 2024
(in millions)Gross
Carrying
Amount		Accumulated
Amortization 		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization 		Net
Carrying
Amount
Customer relationships$916 $(223)$693 $901 $(177)$724 
Patents and technology171 (53)118 170 (41)129 
Software241 (158)83 222 (145)77 
Trademarks79 (16)63 78 (12)66 
Intangible assets subject to amortization$1,407 $(450)$957 $1,371 $(375)$996 

Intangible assets amortization expense was $30 million and $60 million for the three and six months ended June 28, 2025, respectively, and $13 million and $22 million for the three and six months ended June 29, 2024, respectively.
v3.25.2
Leases
 6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Leases Leases
Total operating lease costs are as follows:

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Operating lease costs:
Selling, general and administrative expenses$19 $15 $39 $29 
Cost of goods sold6 3 10 8 
Total operating lease costs (1)
$25 $18 $49 $37 
(1) Includes variable lease costs of $4 million and $9 million for the three and six months ended June 28, 2025, respectively, and $4 million and $7 million for the three and six months ended June 29, 2024, respectively.

The following table summarizes the carrying amounts of our operating lease assets and liabilities:

(in millions)Financial Statement Line ItemJune 28, 2025December 31, 2024
Operating lease assetsOther assets$269 $248 
Operating lease liabilities - currentAccrued liabilities$52 $51 
Operating lease liabilities - non-currentOther liabilities$232 $212 

Supplemental cash flow information related to operating leases follows:

Six Months Ended
(in millions)June 28, 2025June 29, 2024
Cash paid for operating lease liabilities$25 $17 
Non-cash activities: operating lease assets obtained in exchange for new operating lease liabilities$42 $6 

As of June 28, 2025, we had entered into multiple lease agreements primarily for distribution centers and branches. These leases were not recognized on our Unaudited Consolidated Balance Sheet as we had not yet taken control of the related leased sites. Upon commencement, we will recognize the related right-of-use assets and lease liabilities. Total undiscounted future lease payments for these leases was $77 million.
v3.25.2
Long-Term Debt
 6 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt is comprised of the following:

(in millions)June 28, 2025December 31, 2024
4.000% Senior Notes due 2029
$300 $300 
6.500% Senior Notes due 2032
600 600 
Variable rate A&R Term B Facility 1,113 1,115 
Gross debt2,013 2,015 
Less: current portion of long-term debt (1)
(8)(6)
Less: unamortized deferred financing costs(22)(26)
Total long-term debt$1,983 $1,983 
(1) Included within accrued liabilities on the Unaudited Consolidated Balance Sheets.

Cash paid for interest, net of interest rate derivative receipts was $14 million and $53 million for three and six months ended June 28, 2025, respectively, and $16 million and $38 million for the three and six months ended June 29, 2024, respectively.
A&R Senior Credit Facilities

In 2021, we entered into the A&R Credit Agreement with JPMorgan Chase Bank N.A. as administrative agent, which was most recently amended in December 2024 (the “A&R Credit Agreement”). The A&R Credit Agreement provides a variable secured term B loan facility (the “A&R Term B Facility”) that bears interest by reference to the term Secured Overnight Financing Rate (“Term SOFR”) plus a 1.75% interest rate margin. The A&R Term B Facility includes $518 million of principal maturing in February 2028, with any remaining balance due in May 2031. The A&R Credit Agreement also includes a senior secured revolving credit facility (the “A&R Revolving Credit Facility” and, together with the A&R Term B Facility, the “A&R Senior Credit Facilities”) with an aggregate capacity of $500 million and a five-year term ending in May 2031. At June 28, 2025 and December 31, 2024, the weighted average interest rate for the A&R Term B Facility, excluding the effect of the interest rate swaps, was 6.06% and 6.13%, respectively, and there were no borrowings and no letters of credit issued under the A&R Revolving Credit Facility.

We have entered into certain interest rate swap agreements based on Term SOFR which effectively convert a portion of our variable-rate debt to fixed-rate debt. Additionally, we assumed an interest rate cap in 2024 which effectively caps the interest on a portion of our variable rate debt. Refer to Note 13. Derivative Financial Instruments for further discussion.

Senior Notes

In August 2021, we issued $300 million in principal amount of 4.000% Senior Notes due 2029 (“Senior Notes due 2029”).

In July 2024, we issued $600 million in aggregate principal of 6.500% Senior Notes due 2032 (“Senior Notes due 2032”).

The Senior Notes due 2029 and Senior Notes due 2032 are senior unsecured obligations of Resideo guaranteed by Resideo’s existing and future domestic subsidiaries and rank equally with all of Resideo’s senior unsecured debt and senior to all of Resideo’s subordinated debt.

Refer to Note 11. Long-Term Debt in our 2024 Annual Report on Form 10-K and to Note 19. Subsequent Events for further discussion.
v3.25.2
Derivative Financial Instruments
 6 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
In March 2021, we entered into eight interest rate swap agreements (“Swap Agreements”), each with a notional value of $70 million, for a combined notional value of $560 million. The Swap Agreements were entered into to reduce the consolidated interest rate risk associated with variable rate long-term debt and designated as cash flow hedges. Two of the Swap Agreements matured in February 2025, two matured in May 2025, two are scheduled to mature in February 2026, and two are scheduled to mature in February 2027. As of June 28, 2025 and December 31, 2024, the Swap Agreements had a combined notional value of $280 million and $560 million, respectively. The remaining Swap Agreements effectively convert a portion of our variable interest rate obligations to a rate based on Term SOFR with a minimum rate of 0.39% per annum to a base fixed weighted average rate of 1.57% over the remaining terms.

In 2024, we assumed an interest rate cap which has a current notional value of $344 million and a strike rate of 4.79% (the “Interest Rate Cap”), which effectively caps SOFR on the notional amount at that rate. The Interest Rate Cap is designated as a cash flow hedge on our variable interest rate obligations. We are required to pay a premium of $7 million at the maturity date of December 31, 2025.

The Swap Agreements and Interest Rate Cap (referred to collectively as “interest rate derivatives”) are adjusted to fair value on a quarterly basis. The following tables summarize the fair value and presentation of derivative instruments in the Unaudited Consolidated Balance Sheets as well as the changes in fair value recorded in accumulated other comprehensive loss:
Fair Value of Derivative Assets
(in millions)Financial Statement Line ItemJune 28, 2025December 31, 2024
Derivatives designated as hedging instruments:
Interest rate derivativesOther current assets$5 $10 
Interest rate derivativesOther assets1 3 
Total derivative assets designated as hedging instruments$6 $13 
Fair Value of Derivative Liabilities
(in millions)Financial Statement Line ItemJune 28, 2025December 31, 2024
Derivatives designated as hedging instruments:
Interest rate derivativesAccrued liabilities$6 $6 
Unrealized gainAccumulated other comprehensive loss$2 $8 

The following table summarizes the effect of derivative instruments designated as cash flow hedges on other comprehensive (loss) income and the Unaudited Consolidated Statements of Operations:

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Gains recorded in accumulated other comprehensive loss, beginning of period$5 $24 $8 $25 
Current period gain recognized in/reclassified from other comprehensive income(3)(4)(7)(3)
Gains reclassified from accumulated other comprehensive loss to net income/loss— — 1 (2)
Gains recorded in accumulated other comprehensive loss, end of period$2 $20 $2 $20 

Unrealized gains expected to be reclassified from accumulated other comprehensive loss in the next 12 months are estimated to be $2 million as of June 28, 2025.

Refer to Note 12. Derivative Financial Instruments in our 2024 Annual Report on Form 10-K for further discussion.
v3.25.2
Fair Value
 6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
The estimated fair value of our financial instruments held, and when applicable, issued to finance our operations, is summarized below. Certain estimates and judgments are required to develop fair value amounts. The fair value amounts shown below are not necessarily indicative of the amounts that we would realize upon disposition, nor do they indicate our intent or ability to dispose of the financial instrument. There were no material changes in the methodologies used in our valuation practices as of June 28, 2025.

The fair values of long-term debt instruments were determined using quoted market prices in inactive markets or discounted cash flows based upon current observable market interest rates and therefore were classified as Level 2 measurements in the fair value hierarchy.
The following table provides a summary of the carrying amount and fair value of outstanding debt:

June 28, 2025December 31, 2024
(in millions)Carrying ValueFair ValueCarrying ValueFair Value
Debt
4.000% Senior Notes due 2029
$300 $283 $300 $272 
6.500% Senior Notes due 2032
600 614 600 602 
Variable rate A&R Term B Facility 1,113 1,117 1,115 1,119 
Total debt$2,013 $2,014 $2,015 $1,993 

Refer to Note 12. Long-Term Debt for further discussion.

Foreign Currency Risk Management—We conduct business on a multinational basis in a wide variety of foreign currencies. We are exposed to market risks from changes in currency exchange rates. These exposures may impact future earnings and/or operating cash flows. The exposure to market risk for changes in foreign currency exchange rates arises from international trade transactions, foreign currency denominated monetary assets and liabilities, and international financing activities between subsidiaries. We rely on natural offsets to mitigate these market risk exposures. As of June 28, 2025 and December 31, 2024, we had no foreign currency forward or option hedging contracts.

Interest Rate Risk—We have exposure to movements in interest rates associated with cash and borrowings. We may enter into various interest rate protection agreements in order to limit the impact of movements in interest rates.

The following table provides a summary of the carrying amount and fair value of our interest rate derivatives:

June 28, 2025December 31, 2024
(in millions)Carrying ValueFair ValueCarrying ValueFair Value
Assets:
Interest rate derivatives
$6 $6 $13 $13 
Liabilities:
Interest rate derivatives
$6 $6 $6 $6 

There are no material Level 1 or Level 3 assets or liabilities for the periods presented above. The fair values of derivative financial instruments have been determined based on market value equivalents at the balance sheet date, taking into account the current interest rate environment and therefore were classified as Level 2 measurements in the fair value hierarchy. Refer to Note 13. Derivative Financial Instruments for further discussion.

The carrying amounts of cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued liabilities, and current obligations payable under the Indemnification Agreement approximate fair value because of their short-term maturity.
v3.25.2
Accrued Liabilities
 6 Months Ended
Jun. 28, 2025
Payables and Accruals [Abstract]  
Accrued Liabilities Accrued Liabilities
Accrued liabilities consist of the following:

(in millions)June 28, 2025December 31, 2024
Taxes payable$154 $35 
Compensation, benefit and other employee-related109 131 
Customer rebate reserve101 112 
Other (1)
291 299 
Total accrued liabilities$655 $577 
(1) Other includes accruals for current operating lease liability, deferred revenue, freight payable, product warranties, restructuring, interest, legal and professional reserves, advertising, current portion of long-term debt, royalties, and other miscellaneous items.
v3.25.2
Commitments and Contingencies
 6 Months Ended
Jun. 28, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Environmental Matters

We are subject to various federal, state, local, and foreign government requirements relating to the protection of the environment and accrue costs related to environmental matters when it is probable that we have incurred a liability related to a contaminated site and the amount can be reasonably estimated. We believe that, as a general matter, our policies, practices, and procedures are properly designed to prevent unreasonable risk of environmental damage and personal injury and that our handling, manufacture, use, and disposal of hazardous substances are in accordance with environmental and safety laws and regulations. We have incurred remedial response and voluntary cleanup costs for site contamination. Additional claims and costs involving environmental matters are likely to continue to arise in the future.

Environmental expenses for sites owned and operated by us are presented within cost of goods sold for operating sites. For the three and six months ended June 28, 2025 and June 29, 2024, environmental expenses related to these operating sites were not material. Liabilities for environmental costs were $22 million at June 28, 2025 and December 31, 2024.

Obligations Payable Under the Indemnification Agreement and Tax Matters Agreement

The Indemnification Agreement and the Tax Matters Agreement are further described below.

Indemnification Agreement

We separated from Honeywell International Inc. (“Honeywell”) on October 29, 2018, becoming an independent publicly traded company as a result of a pro rata distribution of our common stock to shareholders of Honeywell (the “Spin-Off”). In connection with the Spin-Off, we entered into an indemnification and reimbursement agreement, pursuant to which we have an obligation to make cash payments to Honeywell in amounts equal to 90% of payments for certain Honeywell environmental-liability payments (the “Indemnification Agreement”, formerly defined as the “Reimbursement Agreement”), which include amounts billed (payments), less 90% of Honeywell’s net insurance receipts relating to such liabilities, and less 90% of the net proceeds received by Honeywell in connection with (i) affirmative claims relating to such liabilities, (ii) contributions by other parties relating to such liabilities and (iii) certain property sales (the recoveries). Pursuant to its terms, the Indemnification Agreement extends until the earlier of (1) December 31, 2043; or (2) December 31 of the third consecutive anniversary where the annual reimbursement obligation (including accrued amounts) has been less than $25 million. Prior to entering into the Termination Agreement noted below, the amount payable by us in respect of such liabilities arising in any given year was subject to a cap of $140 million under the Indemnification Agreement, and historically the estimated liability for resolution of pending and future environmental-related liabilities recorded on our balance sheets was calculated as if we were responsible for 100% of the environmental-liability payments associated with certain sites. Refer to Note 15. Commitments and Contingencies in our 2024 Annual Report on Form 10-K for further discussion.

On July 30, 2025, we entered into a definitive agreement with Honeywell to terminate the Indemnification Agreement (the “Termination Agreement”). Subject to the terms and conditions of the Termination Agreement, we will make a pre-tax,
one-time cash payment of $1,590 million to Honeywell, which is expected to occur in the third quarter of 2025. In addition, we paid our regularly scheduled payment of $35 million in July 2025. Upon completion of the pre-tax, one-time cash payment, the Indemnification Agreement will be fully terminated, we will no longer be required to make any further payments to Honeywell under the Indemnification Agreement, and the associated affirmative and negative covenants will no longer apply. As of June 28, 2025, we updated our assessment of what was probable and reasonably estimable under Accounting Standards Codification 450, Contingencies, based on the agreed payment amount. The liability of $1,625 million is recorded as current obligations payable under the Indemnification Agreement in the Unaudited Consolidated Balance Sheet as of June 28, 2025. During the three and six months ended June 28, 2025, we incurred Indemnification Agreement expense of $882 million and $972 million, respectively. In connection with the execution of the Termination Agreement, we entered into a commitment letter with JPMorgan Chase Bank N.A. and Wells Fargo Bank. (the “Debt Commitment Letter”), to provide a new senior secured term loan facility in an aggregate principal amount of up to $1,225 million (the “New Term Loan Facility”). The proceeds from the New Term Loan Facility, along with a portion of our cash on hand, will be used to fund the Termination Agreement payment. To the extent that we are not able to raise the necessary financing by August 29, 2025, Honeywell may cancel the Termination Agreement and reinstate the Indemnification Agreement. In the event we do not raise the necessary financing by October 30, 2025, we also have the right to cancel the Termination Agreement and reinstate the Indemnification Agreement. Upon termination by either party, we will owe Honeywell $100 million in liquidated damages. Refer to Note 19. Subsequent Events for further discussion.

Tax Matters Agreement

In connection with the Spin-Off, we entered into the Tax Matters Agreement with Honeywell, pursuant to which we are responsible and will indemnify Honeywell for certain taxes, including certain income taxes, sales taxes, VAT, and payroll taxes, relating to the business for all periods, including periods prior to the consummation of the Spin-Off. In addition, the Tax Matters Agreement addresses the allocation of liability for taxes that are incurred as a result of restructuring activities undertaken to effectuate the Spin-Off.

We are required to indemnify Honeywell for any taxes resulting from the failure of the Spin-Off and related internal transactions to qualify for their intended tax treatment under U.S. federal, state, and local income tax law, as well as foreign tax law, where such taxes result from our action or omission not permitted by the Separation and Distribution Agreement between Honeywell and Resideo dated as of October 19, 2018 or the Tax Matters Agreement.

The following table summarizes information concerning the Indemnification Agreement and Tax Matter Agreement liabilities:

(in millions)
Indemnification Agreement
Tax Matters AgreementTotal
Balance as of January 1, 2025$723 $91 $814 
Accruals for liabilities deemed probable and reasonably estimable972 — 972 
Payments to Honeywell(70)— (70)
Balance as of June 28, 2025$1,625 $91 $1,716 

The liabilities related to the Indemnification Agreement and Tax Matters Agreement are included in the following balance sheet accounts:

(in millions)June 28, 2025December 31, 2024
Current obligations payable under the Indemnification Agreement$1,625 $140 
Non-current obligations payable under the Indemnification Agreement— 583 
Other liabilities91 91 
Total indemnification liabilities$1,716 $814 

During the three and six months ended June 28, 2025, we incurred Indemnification Agreement expense of $882 million and $972 million, respectively. During the three and six months ended June 29, 2024, we incurred Indemnification Agreement expense of $47 million and $90 million, respectively. Expenses related to the Indemnification Agreement are
presented within Indemnification Agreement expense in the Unaudited Consolidated Statements of Operations. For the three and six months ended June 28, 2025, and June 29, 2024, respectively, there were no expenses related to the Tax Matters Agreement. Expenses related to the Tax Matters Agreement are recognized within Other expenses, net in the Unaudited Consolidated Statements of Operations.

Other Matters

We are subject to lawsuits, investigations, and disputes arising out of the conduct of our business, including matters relating to commercial transactions, government contracts, product liability, acquisitions and divestitures, employee matters, intellectual property, and environmental, health, and safety matters. We recognize a liability for any contingency that is probable of occurrence and reasonably estimable. We continually assess the likelihood of adverse judgments or outcomes in these matters, as well as potential ranges of possible losses, based on a careful analysis of each matter with the assistance of outside legal counsel and, if applicable, other experts. No such matters are material to our financial statements as of June 28, 2025.

Warranties and Guarantees

In the normal course of business, we issue product warranties and product performance guarantees. We accrue for the estimated cost of product warranties and product performance guarantees based on contract terms and historical experience at the time of sale. Adjustments to initial obligations for warranties and guarantees are made as changes to the obligations become reasonably estimable. Product warranties and product performance guarantees are included in accrued liabilities and other liabilities in the Unaudited Consolidated Balance Sheets. The following table summarizes information concerning recorded obligations for product warranties and product performance guarantees:

(in millions)June 28, 2025December 31, 2024
Beginning balance$35 $34 
Accruals for warranties/guarantees issued during the year15 31 
Settlement/adjustment of warranty/guarantee claims(14)(30)
Ending balance$36 $35 
v3.25.2
Income Taxes
 6 Months Ended
Jun. 28, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by the forecasted effective tax rate plus (2) tax expense items specific to the period. In situations where we expect to report losses and where we do not expect to receive tax benefits, we apply separate forecast effective tax rates to those jurisdictions rather than including them in the consolidated forecast effective tax rate.

For the three and six months ended June 28, 2025, the net tax expense was $87 million and $96 million, respectively. For the three and six months ended June 29, 2024, the net tax expense was $29 million and $59 million, respectively. Net tax expense consists primarily of interim period tax expense based on year-to-date pretax income multiplied by our forecasted effective tax rate. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the jurisdictions in which we operate, non-deductible Indemnification Agreement expense, and U.S. taxation of foreign earnings. Cash paid for taxes, net of refunds was $43 million and $64 million for the three and six months ended June 28, 2025, respectively, and $60 million and $88 million for the three and six months ended June 29, 2024, respectively.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation and modifications of the international tax framework. The legislation has various effective dates from 2025 to 2027. We are currently assessing its impact to our Consolidated Financial Statements and related disclosures.
v3.25.2
(Loss) Earnings Per Common Share
 6 Months Ended
Jun. 28, 2025
Earnings Per Share [Abstract]  
(Loss) Earnings Per Common Share (Loss) Earnings Per Common Share
The following table summarizes the reconciliation of the numerator and denominator used for the computation of basic and diluted (loss) earnings per common share:

Three Months EndedSix Months Ended
(in millions, except per share data)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Numerator for basic and diluted (loss) earnings per common share:
Net (loss) income$(825)$30 $(819)$73 
Less: preferred stock dividends8 2 17 2 
Net (loss) income available to common stockholders$(833)$28 $(836)$71 
Denominator for basic and diluted (loss) earnings per common share:
Weighted average basic number of common shares outstanding149 146 148 146 
Plus: dilutive effect of common stock equivalents— 3 — 2 
Weighted average diluted number of common shares outstanding149 149 148 148 
Basic (loss) earnings per common share:
Basic$(5.59)$0.19 $(5.65)$0.49 
Diluted$(5.59)$0.19 $(5.65)$0.48 

For the three and six months ended June 29, 2024, diluted earnings per common share is computed based upon the weighted average number of common shares outstanding for the period plus the dilutive effect of common stock equivalents using the if-converted method and treasury stock method based on the average market price of our common stock for the period.

The following potentially dilutive instruments, presented as a weighted average of the instruments outstanding, were excluded from the calculation of diluted (loss) earnings per common share because their effect would have been antidilutive, and in the case of certain PSUs, the contingency has not been satisfied.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
RSUs and other rights5.9 0.7 6.0 0.7 
PSUs2.2 0.9 2.2 1.1 
Preferred stock0.5 0.1 0.5 — 
v3.25.2
Subsequent Events
 6 Months Ended
Jun. 28, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Termination Agreement

On July 30, 2025, we entered into the Termination Agreement. Subject to the terms and conditions of the Termination Agreement, we will make a pre-tax, one-time cash payment of $1,590 million to Honeywell, which is expected to occur in the third quarter of 2025. In addition, we paid our regularly scheduled payment of $35 million in July 2025. Upon completion of the pre-tax, one-time cash payment, the Indemnification Agreement will be fully terminated, we will no longer be required to make any further payments to Honeywell under the Indemnification Agreement, and the associated affirmative and negative covenants will no longer apply. As of June 28, 2025, we updated our assessment of what was probable and reasonably estimable under Accounting Standards Codification 450, Contingencies, based on the agreed
payment amount. The liability of $1,625 million is recorded as current obligations payable under the Indemnification Agreement on the Unaudited Consolidated Balance Sheet as of June 28, 2025. To fulfill our obligation, we intend to use the proceeds from newly raised debt financing as contemplated by the Debt Commitment Letter, together with cash on hand. To the extent that we are not able to raise the necessary financing by August 29, 2025, Honeywell may cancel the Termination Agreement and reinstate the Indemnification Agreement. In the event we do not raise the necessary financing by October 30, 2025, we also have the right to cancel the Termination Agreement and reinstate the Indemnification Agreement. Upon termination by either party, we will owe Honeywell $100 million in liquidated damages. Refer to Note 16. Commitments and Contingencies for further discussion.

Debt Commitment Letter

On July 30, 2025, in connection with the execution of the Termination Agreement, we entered into the Debt Commitment Letter with JPMorgan Chase Bank N.A. and Wells Fargo Bank. Pursuant to the Debt Commitment Letter, we entered into an agreement to provide a new senior secured term loan facility in an aggregate principal amount of up to $1,225 million, to be incurred as an incremental term loan under the A&R Credit Agreement, the proceeds of which, along with a portion of our cash on hand, will be used by us to finance the Termination Agreement payment and to pay related fees and expenses. Refer to Note 16. Commitments and Contingencies for further discussion.

Spin-off of ADI Global Distribution Segment
On July 30, 2025, we announced our intention to separate the ADI Global Distribution segment through a tax-free spin-off to our shareholders (the “ADI Spin-Off”). Following the completion of the ADI Spin-Off, the Products and Solutions segment would continue to operate as Resideo and ADI Global Distribution would become an independent public company.
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 28, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Basis of Consolidation and Reporting
Basis of Consolidation and Reporting

The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the Unaudited Consolidated Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the Unaudited Consolidated Financial Statements included herein contain all adjustments, which consist of normal recurring adjustments, necessary to fairly present our financial position, results of operations, and cash flows for the periods indicated. For the purpose of comparability, certain prior period amounts have been reclassified to conform to current period classification.

For additional information, refer to the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Annual Report on Form 10-K”), filed with the United States Securities and Exchange Commission (the “SEC”) on February 20, 2025.

Reporting Period

We report financial information on a fiscal quarter basis using a modified four-four-five week calendar. Our fiscal calendar begins on January 1 and ends on December 31. We have elected the first, second, and third quarters to end on a Saturday in order to not disrupt business processes. The effects of this election are generally not significant to reported results for any quarter and only exist within a reporting year.
Accounting Pronouncements
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate operating expenses into specific categories, such as purchases of inventory, employee compensation, depreciation, and amortization to provide enhanced transparency into the nature and function of expenses. The guidance is effective for annual reporting years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. We are currently assessing the impact of adoption to our Consolidated Financial Statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for our
fiscal year ending December 31, 2025. The amendments may be applied prospectively or retrospectively. Other than the new disclosure requirements, the adoption of this guidance will not impact our Consolidated Financial Statements.
v3.25.2
Acquisitions (Tables)
 6 Months Ended
Jun. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of Purchase Price
During the six months ended June 28, 2025, measurement period adjustments were made to income tax assets and liabilities within the one-year measurement period. As a result, goodwill related to the acquisition decreased by $9 million, reflecting a net decrease in income tax liabilities. We completed accounting for the acquisition of Snap One in June 2025, and the following table presents the final fair values of assets acquired and liabilities assumed as of the date of acquisition.

(in millions)
Assets acquired:
Cash and cash equivalents$47 
Accounts receivable49 
Inventories240 
Other current assets26 
Property, plant and equipment63 
Goodwill (1)
396 
Intangible assets
770 
Other assets69 
Total assets acquired1,660 
Liabilities assumed:
Accounts payable48 
Accrued liabilities69 
Other liabilities (2)
138 
Total liabilities assumed255 
Net assets acquired$1,405 
(1) Of the $396 million of goodwill from the acquisition, $90 million is expected to be tax deductible. Goodwill is comprised of expected synergies for the combined operations and the assembled workforce acquired in the acquisition.
(2) Includes $68 million of deferred tax liabilities.
v3.25.2
Segment Financial Data (Tables)
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
Segment results of operations for Products and Solutions, including significant segment expenses that are regularly reviewed by the CODM, are included in the table below.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net revenue$666 $630 $1,315 $1,250 
Cost of goods sold380 370 760 745 
Research and development expenses32 21 59 46 
Selling, general and administrative expenses104 103 205 200 
Intangible asset amortization6 6 12 12 
Restructuring expenses2 — 1 5 
Segment income from operations$142 $130 $278 $242 

Segment results of operations for ADI Global Distribution, including significant segment expenses that are regularly reviewed by the CODM, are included in the table below.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net revenue$1,277 $959 $2,398 $1,825 
Cost of goods sold994 773 1,873 1,483 
Research and development expenses9 — 17 — 
Selling, general and administrative expenses179 118 352 220 
Intangible asset amortization23 6 46 9 
Restructuring expenses1 — 5 2 
Segment income from operations$71 $62 $105 $111 
The following table provides detail on other significant segment items that are regularly reviewed by the CODM.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Capital expenditures
Products and Solutions$10 $11 $30 $27 
ADI Global Distribution10 4 21 9 
Total capital expenditures$20 $15 $51 $36 
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following table provides a reconciliation of segment income from operations to consolidated (loss) income before taxes.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Segment income from operations
Products and Solutions$142 $130 $278 $242 
ADI Global Distribution71 62 105 111 
Total segment income from operations
213 192 383 353 
Unallocated amounts:
Selling, general and administrative expenses36 59 68 91 
Restructuring, impairment and extinguishment costs(1)11 — 11 
Indemnification Agreement expense882 47 972 90 
Other expenses, net9 1 15 — 
Interest expense, net24 15 49 28 
Other corporate items1 — 2 1 
Net (loss) income before taxes$(738)$59 $(723)$132 
v3.25.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue By Business Line and Geographic Location
The following table presents revenue by business line and geographic location, as we believe this presentation best depicts how the nature, amount, timing, and uncertainty of net revenue and cash flows are affected by economic factors:

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Products and Solutions
Safety and Security$241 $227 $462 $440 
Air220 214 431 405 
Energy131 118 270 252 
Water74 71 152 153 
Total Products and Solutions666 630 1,315 1,250 
ADI Global Distribution
Americas (1)
1,133 840 2,119 1,586 
International (2)
144 119 279 239 
Total ADI Global Distribution1,277 959 2,398 1,825 
Total net revenue$1,943 $1,589 $3,713 $3,075 
(1)Americas represents North, Central, and South America.
(2)International represents all geographies that are not included in Americas.
v3.25.2
Restructuring (Tables)
 6 Months Ended
Jun. 28, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Expenses
The following table summarizes the status of our restructuring expenses included within accrued liabilities on the Unaudited Consolidated Balance Sheets. Amounts associated with impairment and extinguishment costs are not included in the table below because those amounts are charged directly against the relevant assets and debt, respectively.

Six Months EndedTwelve Months Ended
(in millions)June 28, 2025December 31, 2024
Beginning of period$31 $30 
Charges6 41 
Usage (1)
(14)(40)
End of period$23 $31 
(1) Usage primarily relates to cash payments and shares issued associated with employee termination costs.
v3.25.2
Stock-Based Compensation Plans (Tables)
 6 Months Ended
Jun. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Incentive Plan for Employees and Non-Employee Directors
The following table summarizes awards granted during the relevant periods:

Six Months Ended June 28, 2025Six Months Ended June 29, 2024
(in thousands except for per share amounts)
Number of Stock Units GrantedWeighted average grant date fair value per share
Number of Stock Units Granted (1)
Weighted average grant date fair value per share
Performance Stock Units (“PSUs”) (2)
237$25.56 575$27.96 
Restricted Stock Units (“RSUs”)
1,634$21.22 3,898$19.57 
(1) Includes 2 million RSUs granted as part of the Snap One acquisition for a fair value of $43 million, of which $17 million was included in purchase consideration.
(2) Includes PSUs at target payout. Final common shares issued may be different based upon the actual achievement versus the performance measure target.
v3.25.2
Inventories, net (Tables)
 6 Months Ended
Jun. 28, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
The following table summarizes the details of our inventories, net:

(in millions)June 28, 2025December 31, 2024
Raw materials$167 $171 
Work in process16 14 
Finished products1,076 1,052 
Total inventories, net$1,259 $1,237 
v3.25.2
Goodwill and Intangible Assets, net (Tables)
 6 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Our goodwill balance and changes in carrying value by segment were as follows:

(in millions)Products and SolutionsADI Global DistributionTotal
Balance as of January 1, 2025$2,015 $1,057 $3,072 
Adjustments (1)
— (9)(9)
Impact of foreign currency translation 41 22 63 
Balance as of June 28, 2025$2,056 $1,070 $3,126 
(1) Related to the measurement period adjustments associated with the Snap One acquisition. Refer to Note 3. Acquisitions for further discussion.
Schedule of Indefinite-Lived Intangible Assets
The following table summarizes the net carrying amount of intangible assets:

(in millions)June 28, 2025December 31, 2024
Intangible assets subject to amortization$957 $996 
Indefinite-lived intangible assets180 180 
Total intangible assets$1,137 $1,176 
Schedule of Finite-Lived Intangible Assets
The following table summarizes the net carrying amount of intangible assets:

(in millions)June 28, 2025December 31, 2024
Intangible assets subject to amortization$957 $996 
Indefinite-lived intangible assets180 180 
Total intangible assets$1,137 $1,176 

Intangible assets subject to amortization consisted of the following:

June 28, 2025December 31, 2024
(in millions)Gross
Carrying
Amount		Accumulated
Amortization 		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization 		Net
Carrying
Amount
Customer relationships$916 $(223)$693 $901 $(177)$724 
Patents and technology171 (53)118 170 (41)129 
Software241 (158)83 222 (145)77 
Trademarks79 (16)63 78 (12)66 
Intangible assets subject to amortization$1,407 $(450)$957 $1,371 $(375)$996 
v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Schedule of Operating Lease Expense
Total operating lease costs are as follows:

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Operating lease costs:
Selling, general and administrative expenses$19 $15 $39 $29 
Cost of goods sold6 3 10 8 
Total operating lease costs (1)
$25 $18 $49 $37 
(1) Includes variable lease costs of $4 million and $9 million for the three and six months ended June 28, 2025, respectively, and $4 million and $7 million for the three and six months ended June 29, 2024, respectively.
Schedule of Carrying Amounts of Operating Leased Assets and Liabilities
The following table summarizes the carrying amounts of our operating lease assets and liabilities:

(in millions)Financial Statement Line ItemJune 28, 2025December 31, 2024
Operating lease assetsOther assets$269 $248 
Operating lease liabilities - currentAccrued liabilities$52 $51 
Operating lease liabilities - non-currentOther liabilities$232 $212 
Schedule of Supplemental Cash Flow Information Related to Operating Leases
Supplemental cash flow information related to operating leases follows:

Six Months Ended
(in millions)June 28, 2025June 29, 2024
Cash paid for operating lease liabilities$25 $17 
Non-cash activities: operating lease assets obtained in exchange for new operating lease liabilities$42 $6 
v3.25.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt is comprised of the following:

(in millions)June 28, 2025December 31, 2024
4.000% Senior Notes due 2029
$300 $300 
6.500% Senior Notes due 2032
600 600 
Variable rate A&R Term B Facility 1,113 1,115 
Gross debt2,013 2,015 
Less: current portion of long-term debt (1)
(8)(6)
Less: unamortized deferred financing costs(22)(26)
Total long-term debt$1,983 $1,983 
(1) Included within accrued liabilities on the Unaudited Consolidated Balance Sheets.
v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Consolidated Balance Sheets and Pre-Tax Gain (Loss) in Accumulated Other Comprehensive Loss The following tables summarize the fair value and presentation of derivative instruments in the Unaudited Consolidated Balance Sheets as well as the changes in fair value recorded in accumulated other comprehensive loss:
Fair Value of Derivative Assets
(in millions)Financial Statement Line ItemJune 28, 2025December 31, 2024
Derivatives designated as hedging instruments:
Interest rate derivativesOther current assets$5 $10 
Interest rate derivativesOther assets1 3 
Total derivative assets designated as hedging instruments$6 $13 
Fair Value of Derivative Liabilities
(in millions)Financial Statement Line ItemJune 28, 2025December 31, 2024
Derivatives designated as hedging instruments:
Interest rate derivativesAccrued liabilities$6 $6 
Unrealized gainAccumulated other comprehensive loss$2 $8 
Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges
The following table summarizes the effect of derivative instruments designated as cash flow hedges on other comprehensive (loss) income and the Unaudited Consolidated Statements of Operations:

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Gains recorded in accumulated other comprehensive loss, beginning of period$5 $24 $8 $25 
Current period gain recognized in/reclassified from other comprehensive income(3)(4)(7)(3)
Gains reclassified from accumulated other comprehensive loss to net income/loss— — 1 (2)
Gains recorded in accumulated other comprehensive loss, end of period$2 $20 $2 $20 
v3.25.2
Fair Value (Tables)
 6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The following table provides a summary of the carrying amount and fair value of outstanding debt:

June 28, 2025December 31, 2024
(in millions)Carrying ValueFair ValueCarrying ValueFair Value
Debt
4.000% Senior Notes due 2029
$300 $283 $300 $272 
6.500% Senior Notes due 2032
600 614 600 602 
Variable rate A&R Term B Facility 1,113 1,117 1,115 1,119 
Total debt$2,013 $2,014 $2,015 $1,993 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table provides a summary of the carrying amount and fair value of our interest rate derivatives:

June 28, 2025December 31, 2024
(in millions)Carrying ValueFair ValueCarrying ValueFair Value
Assets:
Interest rate derivatives
$6 $6 $13 $13 
Liabilities:
Interest rate derivatives
$6 $6 $6 $6 
v3.25.2
Accrued Liabilities (Tables)
 6 Months Ended
Jun. 28, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Liabilities
Accrued liabilities consist of the following:

(in millions)June 28, 2025December 31, 2024
Taxes payable$154 $35 
Compensation, benefit and other employee-related109 131 
Customer rebate reserve101 112 
Other (1)
291 299 
Total accrued liabilities$655 $577 
(1) Other includes accruals for current operating lease liability, deferred revenue, freight payable, product warranties, restructuring, interest, legal and professional reserves, advertising, current portion of long-term debt, royalties, and other miscellaneous items.
v3.25.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 28, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Reimbursement Agreement Liabilities
The following table summarizes information concerning the Indemnification Agreement and Tax Matter Agreement liabilities:

(in millions)
Indemnification Agreement
Tax Matters AgreementTotal
Balance as of January 1, 2025$723 $91 $814 
Accruals for liabilities deemed probable and reasonably estimable972 — 972 
Payments to Honeywell(70)— (70)
Balance as of June 28, 2025$1,625 $91 $1,716 
Schedule of Reimbursement Agreement Liabilities Included in Balance Sheet Accounts
The liabilities related to the Indemnification Agreement and Tax Matters Agreement are included in the following balance sheet accounts:

(in millions)June 28, 2025December 31, 2024
Current obligations payable under the Indemnification Agreement$1,625 $140 
Non-current obligations payable under the Indemnification Agreement— 583 
Other liabilities91 91 
Total indemnification liabilities$1,716 $814 
Schedule of Recorded Obligations for Product Warranties and Product Performance Guarantee The following table summarizes information concerning recorded obligations for product warranties and product performance guarantees:
(in millions)June 28, 2025December 31, 2024
Beginning balance$35 $34 
Accruals for warranties/guarantees issued during the year15 31 
Settlement/adjustment of warranty/guarantee claims(14)(30)
Ending balance$36 $35 
v3.25.2
(Loss) Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 28, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The following table summarizes the reconciliation of the numerator and denominator used for the computation of basic and diluted (loss) earnings per common share:

Three Months EndedSix Months Ended
(in millions, except per share data)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Numerator for basic and diluted (loss) earnings per common share:
Net (loss) income$(825)$30 $(819)$73 
Less: preferred stock dividends8 2 17 2 
Net (loss) income available to common stockholders$(833)$28 $(836)$71 
Denominator for basic and diluted (loss) earnings per common share:
Weighted average basic number of common shares outstanding149 146 148 146 
Plus: dilutive effect of common stock equivalents— 3 — 2 
Weighted average diluted number of common shares outstanding149 149 148 148 
Basic (loss) earnings per common share:
Basic$(5.59)$0.19 $(5.65)$0.49 
Diluted$(5.59)$0.19 $(5.65)$0.48 
The following potentially dilutive instruments, presented as a weighted average of the instruments outstanding, were excluded from the calculation of diluted (loss) earnings per common share because their effect would have been antidilutive, and in the case of certain PSUs, the contingency has not been satisfied.

Three Months EndedSix Months Ended
(in millions)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
RSUs and other rights5.9 0.7 6.0 0.7 
PSUs2.2 0.9 2.2 1.1 
Preferred stock0.5 0.1 0.5 — 
v3.25.2
Nature of Operations and Basis of Presentation (Details)
space in Millions
Jun. 28, 2025
space
Products and Solutions  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations  
Number of spaces (spaces) 150
v3.25.2
Acquisitions - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 14, 2024
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Business Combination        
Cash purchase price     $ 0 $ 1,334
Snap One Holdings Corp        
Business Combination        
Percentage of equity acquired 100.00%      
Cash purchase price $ 1,400      
Goodwill measurement adjustment $ (9)      
Net revenue   $ 1,804   $ 3,536
v3.25.2
Acquisitions - Schedule of Preliminary Allocation of Purchase Price (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Jun. 14, 2024
Assets acquired:      
Goodwill $ 3,126 $ 3,072  
Snap One Holdings Corp      
Assets acquired:      
Cash and cash equivalents     $ 47
Accounts receivable     49
Inventories     240
Other current assets     26
Property, plant and equipment     63
Goodwill     396
Intangible assets     770
Other assets     69
Total assets acquired     1,660
Liabilities assumed:      
Accounts payable     48
Accrued liabilities     69
Other liabilities     138
Total liabilities assumed     255
Net assets acquired     1,405
Goodwill partially deductible for tax purposes     90
Deferred tax liabilities     $ 68
v3.25.2
Segment Financial Data - Additional Information (Details)
 6 Months Ended
Jun. 28, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments (segments) 2
v3.25.2
Segment Financial Data - Schedule of Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Segment Reporting Information        
Net revenue $ 1,943 $ 1,589 $ 3,713 $ 3,075
Cost of goods sold 1,374 1,142 2,633 2,228
Research and development expenses 41 21 76 46
Selling, general and administrative expenses 319 280 625 511
Intangible asset amortization 30 13 60 22
Restructuring expenses 2 11 6 18
Segment income from operations 177 122 313 250
Operating Segments        
Segment Reporting Information        
Segment income from operations 213 192 383 353
Products and Solutions        
Segment Reporting Information        
Net revenue 666 630 1,315 1,250
Products and Solutions | Operating Segments        
Segment Reporting Information        
Net revenue     1,315 1,250
Cost of goods sold 380 370 760 745
Research and development expenses 32 21 59 46
Selling, general and administrative expenses 104 103 205 200
Intangible asset amortization 6 6 12 12
Restructuring expenses 2 0 1 5
Segment income from operations 142 130 278 242
ADI Global Distribution        
Segment Reporting Information        
Net revenue 1,277 959 2,398 1,825
ADI Global Distribution | Operating Segments        
Segment Reporting Information        
Net revenue     2,398 1,825
Cost of goods sold 994 773 1,873 1,483
Research and development expenses 9 0 17 0
Selling, general and administrative expenses 179 118 352 220
Intangible asset amortization 23 6 46 9
Restructuring expenses 1 0 5 2
Segment income from operations $ 71 $ 62 $ 105 $ 111
v3.25.2
Segment Financial Data - Schedule of Reconciliation of Segment Gross Profit and Segment Income from Operations to Consolidated Income Before Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Segment Reporting Information        
Segment income from operations $ 177 $ 122 $ 313 $ 250
Selling, general and administrative expenses 319 280 625 511
Restructuring, impairment and extinguishment costs (1) 11 0 11
Indemnification Agreement expense 882 47 972 90
Other expenses, net 9 1 15 0
Interest expense, net 24 15 49 28
Other corporate items 1 0 2 1
Net (loss) income before taxes (738) 59 (723) 132
Operating Segments        
Segment Reporting Information        
Segment income from operations 213 192 383 353
Operating Segments | Products and Solutions        
Segment Reporting Information        
Segment income from operations 142 130 278 242
Selling, general and administrative expenses 104 103 205 200
Operating Segments | ADI Global Distribution        
Segment Reporting Information        
Segment income from operations 71 62 105 111
Selling, general and administrative expenses 179 118 352 220
Corporate        
Segment Reporting Information        
Selling, general and administrative expenses $ 36 $ 59 $ 68 $ 91
v3.25.2
Segment Financial Data - Schedule of Other Significant Segment Items (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Segment Reporting Information        
Total capital expenditures $ 20 $ 15 $ 51 $ 36
Operating Segments | Products and Solutions        
Segment Reporting Information        
Total capital expenditures 10 11 30 27
Operating Segments | ADI Global Distribution        
Segment Reporting Information        
Total capital expenditures $ 10 $ 4 $ 21 $ 9
v3.25.2
Revenue Recognition - Additional Information (Details)
 6 Months Ended
Jun. 28, 2025
segment
Revenue from Contract with Customer [Abstract]  
Number of operating segments (segment) 2
v3.25.2
Revenue Recognition - Schedule of Revenue by Business Line and Geographic Location (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Disaggregation of Revenue        
Total net revenue $ 1,943 $ 1,589 $ 3,713 $ 3,075
Products and Solutions        
Disaggregation of Revenue        
Total net revenue 666 630 1,315 1,250
Products and Solutions | Safety and Security        
Disaggregation of Revenue        
Total net revenue 241 227 462 440
Products and Solutions | Air        
Disaggregation of Revenue        
Total net revenue 220 214 431 405
Products and Solutions | Energy        
Disaggregation of Revenue        
Total net revenue 131 118 270 252
Products and Solutions | Water        
Disaggregation of Revenue        
Total net revenue 74 71 152 153
ADI Global Distribution        
Disaggregation of Revenue        
Total net revenue 1,277 959 2,398 1,825
ADI Global Distribution | Americas        
Disaggregation of Revenue        
Total net revenue 1,133 840 2,119 1,586
ADI Global Distribution | International        
Disaggregation of Revenue        
Total net revenue $ 144 $ 119 $ 279 $ 239
v3.25.2
Restructuring - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Restructuring Cost and Reserve        
Restructuring expenses $ 2 $ 0 $ 6 $ 7
Restructuring, impairment and extinguishment costs $ (1) $ 11 $ 0 $ 11
Minimum        
Restructuring Cost and Reserve        
Restructuring initiatives execution (in months)     12 months  
Maximum        
Restructuring Cost and Reserve        
Restructuring initiatives execution (in months)     30 months  
v3.25.2
Restructuring - Schedule of Restructuring Expenses (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 28, 2025
Dec. 31, 2024
Restructuring Reserve    
Beginning of year $ 31 $ 30
Charges 6 41
Usage (14) (40)
End of year $ 23 $ 31
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Restructuring, impairment and extinguishment costs  
v3.25.2
Stockholders’ Equity (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 14, 2024
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Dec. 31, 2024
Aug. 03, 2023
Class of Stock              
Preferred stock, shares issued (in shares) 500,000 500,000   500,000      
Preferred stock, purchase price $ 500,000,000 $ 482,000,000   $ 482,000,000   $ 482,000,000  
Direct and incremental expenses $ 18,000,000            
Preferred stock, per share conversion price (in dollar per share) $ 26.92            
Preferred stock, coupon rate (as a percent) 7.00%            
Liquidation preference stock   500,000,000   500,000,000      
Accumulated preferred stock dividends   $ 8,000,000 $ 2,000,000 $ 17,000,000 $ 2,000,000    
Stock trading price exceeds (as a percent) 200.00%            
Preferred stock redemption rate upon change of control (as a percent) 150.00%            
Preferred stock redemption rate (as a percent) 100.00%            
Minimum              
Class of Stock              
Number of trailing days, trigger 20 days            
Maximum              
Class of Stock              
Number of trailing days, trigger 30 days            
Common Stock              
Class of Stock              
Common stock repurchases (in shares)   0 0 0 100,000    
Common stock repurchases         $ 1,000,000    
Share Repurchase Program              
Class of Stock              
Stock repurchase program, authorized amount             $ 150,000,000
Share Repurchase Program | Common Stock              
Class of Stock              
Remaining authorized repurchase amount   $ 108,000,000   $ 108,000,000      
v3.25.2
Stock-Based Compensation Plans - Schedule of RSU and PSU Activity Related to Stock Incentive Plan (Details) - USD ($)
$ / shares in Units, $ in Millions
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Performance Stock Units (“PSUs”)    
Number of Stock Units Granted    
Number of stock units granted (in shares) 237,000 575,000
Weighted average grant date fair value per share    
Granted (in dollars per share) $ 25.56 $ 27.96
Number of restricted stock units granted 237,000 575,000
Restricted Stock Units (“RSUs”)    
Number of Stock Units Granted    
Number of stock units granted (in shares) 1,634,000 3,898,000
Weighted average grant date fair value per share    
Granted (in dollars per share) $ 21.22 $ 19.57
Number of restricted stock units granted 1,634,000 3,898,000
Restricted Stock Units (“RSUs”) | Snap One Holdings Corp    
Number of Stock Units Granted    
Number of stock units granted (in shares)   2,000,000
Weighted average grant date fair value per share    
Fair value of shares issued   $ 43
Number of restricted stock units granted   2,000,000
Fair value of RSU's included in purchase consideration   $ 17
v3.25.2
Stock-Based Compensation Plans - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]        
Stock-based compensation expense, net of tax $ 16 $ 15 $ 32 $ 29
v3.25.2
Inventories, net (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 167 $ 171
Work in process 16 14
Finished products 1,076 1,052
Total inventories, net $ 1,259 $ 1,237
v3.25.2
Goodwill and Intangible Assets, net - Schedule of Goodwill (Details)
$ in Millions
 6 Months Ended
Jun. 28, 2025
USD ($)
Goodwill  
Goodwill, beginning balance $ 3,072
Adjustments (9)
Impact of foreign currency translation 63
Goodwill, ending balance 3,126
Products and Solutions  
Goodwill  
Goodwill, beginning balance 2,015
Adjustments 0
Impact of foreign currency translation 41
Goodwill, ending balance 2,056
ADI Global Distribution  
Goodwill  
Goodwill, beginning balance 1,057
Adjustments (9)
Impact of foreign currency translation 22
Goodwill, ending balance $ 1,070
v3.25.2
Goodwill and Intangible Assets, net - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Intangible assets subject to amortization $ 957 $ 996
Indefinite-lived intangible assets 180 180
Total intangible assets $ 1,137 $ 1,176
v3.25.2
Goodwill and Intangible Assets, net - Schedule of Other Intangible Assets With Finite Lives (Detail) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Finite Lived Intangible Assets    
Gross Carrying Amount $ 1,407 $ 1,371
Accumulated Amortization (450) (375)
Net Carrying Amount 957 996
Customer relationships    
Finite Lived Intangible Assets    
Gross Carrying Amount 916 901
Accumulated Amortization (223) (177)
Net Carrying Amount 693 724
Patents and technology    
Finite Lived Intangible Assets    
Gross Carrying Amount 171 170
Accumulated Amortization (53) (41)
Net Carrying Amount 118 129
Software    
Finite Lived Intangible Assets    
Gross Carrying Amount 241 222
Accumulated Amortization (158) (145)
Net Carrying Amount 83 77
Trademarks    
Finite Lived Intangible Assets    
Gross Carrying Amount 79 78
Accumulated Amortization (16) (12)
Net Carrying Amount $ 63 $ 66
v3.25.2
Goodwill and Intangible Assets, net - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Intangible asset amortization $ 30 $ 13 $ 60 $ 22
v3.25.2
Leases - Schedule of Operating Lease Costs (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Lessee Lease Description        
Total operating lease costs $ 25 $ 18 $ 49 $ 37
Variable lease costs 4 4 9 7
Selling, general and administrative expenses        
Lessee Lease Description        
Total operating lease costs 19 15 39 29
Cost of goods sold        
Lessee Lease Description        
Total operating lease costs $ 6 $ 3 $ 10 $ 8
v3.25.2
Leases - Schedule of Lease Recognized Related to Operating Leases (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease assets $ 269 $ 248
Operating lease liabilities - current 52 51
Operating lease liabilities - non-current $ 232 $ 212
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other assets Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued liabilities Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other liabilities Other liabilities
v3.25.2
Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Leases [Abstract]    
Cash paid for operating lease liabilities $ 25 $ 17
Non-cash activities: operating lease assets obtained in exchange for new operating lease liabilities 42 $ 6
Undiscounted future lease payments $ 77  
v3.25.2
Leases - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Leases [Abstract]        
Variable lease costs $ 4 $ 4 $ 9 $ 7
Undiscounted future lease payments $ 77   $ 77  
v3.25.2
Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Jul. 31, 2024
Aug. 31, 2021
Debt Instrument        
Gross debt $ 2,013 $ 2,015    
Less: current portion of long-term debt (8) (6)    
Less: unamortized deferred financing costs (22) (26)    
Long-term debt $ 1,983 1,983    
4.000% Senior Notes due 2029 | Senior Notes        
Debt Instrument        
Interest rate (as a percent) 4.00%     4.00%
Gross debt $ 300 300    
6.500% Senior Notes due 2032 | Senior Notes        
Debt Instrument        
Interest rate (as a percent) 6.50%   6.50%  
Gross debt $ 600 600    
Variable rate A&R Term B Facility | Senior Notes        
Debt Instrument        
Gross debt $ 1,113 $ 1,115    
v3.25.2
Long-Term Debt - Additional Information (Details) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
Dec. 31, 2024
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Jul. 31, 2024
Dec. 31, 2021
Aug. 31, 2021
Debt Instrument                
Interest paid, net of swaps   $ 14,000,000 $ 16,000,000 $ 53,000,000 $ 38,000,000      
4.000% Senior Notes due 2029 | Senior Notes                
Debt Instrument                
Principal amount issued               $ 300,000,000
Interest rate (as a percent)   4.00%   4.00%       4.00%
Senior Notes due 2032 | Senior Notes                
Debt Instrument                
Principal amount issued           $ 600,000,000    
6.5% of Senior Unsecured Notes Due 2032 | Senior Notes                
Debt Instrument                
Interest rate (as a percent)   6.50%   6.50%   6.50%    
A&R Term B Facility                
Debt Instrument                
Weighted average interest rate (as a percent) 6.13% 6.06%   6.06%        
A&R Term B Facility | A&R Credit Agreement                
Debt Instrument                
Debt instrument, basis spread on variable rate (as a percent) 1.75%              
Credit facilities term (in years) 5 years              
A&R Term B Facility | A&R Revolving Credit Facility                
Debt Instrument                
Principal amount issued             $ 518,000,000  
A&R Revolving Credit Facility | A&R Revolving Credit Facility                
Debt Instrument                
Principal amount issued             $ 500,000,000  
A&R Revolving Credit Facility | Senior Credit Facilities                
Debt Instrument                
Borrowings from credit facility $ 0 $ 0   $ 0        
Letter of Credit | Senior Credit Facilities                
Debt Instrument                
Borrowings from credit facility $ 0 $ 0   $ 0        
v3.25.2
Derivative Financial Instruments - Additional Information (Details)
$ in Millions
 6 Months Ended
Jun. 28, 2025
USD ($)
Dec. 31, 2024
USD ($)
Mar. 31, 2021
USD ($)
derivative
Derivative      
Notional value     $ 560
Fixed weighted average rate (as percent)     0.39%
Unrealized gains expected to be reclassified from AOCI in next 12 months $ 2    
Maximum      
Derivative      
Fixed weighted average rate (as percent)     1.57%
Interest rate derivatives      
Derivative      
Number of interest rate derivatives held | derivative     8
Notional value $ 280 $ 560 $ 70
Interest Rate Cap      
Derivative      
Notional value   $ 344  
Strike rate (as a percent)   4.79%  
Premium value   $ 7  
Interest Rate Swap I      
Derivative      
Notional value     70
Interest Rate Swap II      
Derivative      
Notional value     70
Interest Rate Swap III      
Derivative      
Notional value     70
Interest Rate Swap IV      
Derivative      
Notional value     70
Interest Rate Swap V      
Derivative      
Notional value     70
Interest Rate Swap VI      
Derivative      
Notional value     $ 70
v3.25.2
Derivative Financial Instruments - Schedule of Derivative Instruments in Statement of Financial Position (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Jun. 29, 2024
Derivative      
Total derivative assets designated as hedging instruments $ 6 $ 13  
Accumulated other comprehensive loss, net $ (161) (284)  
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Other current assets    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets    
Designated as Hedging Instrument | Interest rate derivatives      
Derivative      
Total derivative liabilities designated as hedging instruments $ 6 6  
Other current assets | Designated as Hedging Instrument | Interest rate derivatives      
Derivative      
Total derivative assets designated as hedging instruments 5 10  
Other assets | Designated as Hedging Instrument | Interest rate derivatives      
Derivative      
Total derivative assets designated as hedging instruments 1 $ 3  
Accumulated other comprehensive loss      
Derivative      
Accumulated other comprehensive loss, net $ 2   $ 8
v3.25.2
Derivative Financial Instruments - Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Derivatives used in Net Investment Hedge, Net of Tax        
Gains recorded in accumulated other comprehensive loss, beginning of period $ 3,347 $ 2,769 $ 3,309 $ 2,749
Gains recorded in accumulated other comprehensive loss, end of period 2,614 3,294 2,614 3,294
Accumulated other comprehensive loss        
Derivatives used in Net Investment Hedge, Net of Tax        
Gains recorded in accumulated other comprehensive loss, beginning of period 5 24 8 25
Current period gain recognized in/reclassified from other comprehensive income (3) (4) (7) (3)
Gains reclassified from accumulated other comprehensive loss to net income/loss 0 0 1 (2)
Gains recorded in accumulated other comprehensive loss, end of period $ 2 $ 20 $ 2 $ 20
v3.25.2
Fair Value - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Jul. 31, 2024
Aug. 31, 2021
Debt Instrument        
Carrying Value $ 2,013 $ 2,015    
Fair Value $ 2,014 1,993    
4.000% Senior Notes due 2029 | Senior Notes        
Debt Instrument        
Interest rate (as a percent) 4.00%     4.00%
Carrying Value $ 300 300    
Fair Value $ 283 272    
6.500% Senior Notes due 2032 | Senior Notes        
Debt Instrument        
Interest rate (as a percent) 6.50%   6.50%  
Carrying Value $ 600 600    
Fair Value 614 602    
Variable rate A&R Term B Facility | Senior Notes        
Debt Instrument        
Carrying Value 1,113 1,115    
Fair Value $ 1,117 $ 1,119    
v3.25.2
Fair Value - Schedule of the Carrying Amount and Fair Value of Interest Rate Swap (Details) - Level 2 - Fair Value, Recurring - Interest rate derivatives - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Assets:    
Assets, Carrying Value $ 6 $ 13
Assets, Fair Value 6 13
Liabilities:    
Liabilities, Carrying Value 6 6
Liabilities, Fair Value $ 6 $ 6
v3.25.2
Accrued Liabilities (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Accrued liabilities    
Taxes payable $ 154 $ 35
Compensation, benefit and other employee-related 109 131
Customer rebate reserve 101 112
Other 291 299
Total accrued liabilities $ 655 $ 577
v3.25.2
Commitments and Contingencies - Additional Information (Details) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
Oct. 29, 2018
Jul. 31, 2025
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Jul. 30, 2025
Dec. 31, 2024
Loss Contingencies                
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]     Cost of goods sold   Cost of goods sold      
Environmental liabilities     $ 22,000,000   $ 22,000,000     $ 22,000,000
Indemnification Agreement expense     882,000,000 $ 47,000,000 972,000,000 $ 90,000,000    
Indemnification Agreement                
Loss Contingencies                
Maximum annual reimbursement obligation amount     25,000,000   25,000,000      
Honeywell                
Loss Contingencies                
Total indemnification liabilities     1,716,000,000   1,716,000,000     814,000,000
Fee owed upon termination of agreement     100,000,000   100,000,000      
Honeywell | Indemnification Agreement                
Loss Contingencies                
Total indemnification liabilities     $ 1,625,000,000   $ 1,625,000,000     $ 723,000,000
Honeywell | Subsequent Event                
Loss Contingencies                
Installment payments for indemnification liability   $ 35,000,000            
Honeywell | Indemnification Agreement                
Loss Contingencies                
Indemnification payable percentage of payments (as a percent) 90.00%              
Honeywell | Indemnification Agreement | Maximum                
Loss Contingencies                
Indemnity liability annual cap $ 140,000,000              
JPMorgan Chase Bank | Subsequent Event | New Term Loan Facility                
Loss Contingencies                
Debt aggregate principal amount             $ 1,225,000,000  
v3.25.2
Commitments and Contingencies - Schedule of Reimbursement Agreement Liabilities (Details) - Honeywell
$ in Millions
 6 Months Ended
Jun. 28, 2025
USD ($)
Accrual for Reimbursement Agreement  
Beginning balance $ 814
Accruals for liabilities deemed probable and reasonably estimable 972
Payments to Honeywell (70)
Ending balance 1,716
Indemnification Agreement  
Accrual for Reimbursement Agreement  
Beginning balance 723
Accruals for liabilities deemed probable and reasonably estimable 972
Payments to Honeywell (70)
Ending balance 1,625
Tax Matters Agreement  
Accrual for Reimbursement Agreement  
Beginning balance 91
Accruals for liabilities deemed probable and reasonably estimable 0
Payments to Honeywell 0
Ending balance $ 91
v3.25.2
Commitments and Contingencies - Schedule of Reimbursement Agreement Liabilities Included in Balance Sheet Accounts (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Loss Contingency, Classification of Accrual    
Current obligations payable under the Indemnification Agreement $ 1,625 $ 140
Non-current obligations payable under the Indemnification Agreement 0 583
Honeywell    
Loss Contingency, Classification of Accrual    
Current obligations payable under the Indemnification Agreement 1,625 140
Non-current obligations payable under the Indemnification Agreement 0 583
Other liabilities 91 91
Total indemnification liabilities $ 1,716 $ 814
v3.25.2
Commitments and Contingencies - Schedule of Recorded Obligations for Product Warranties and Product Performance Guarantee (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 28, 2025
Dec. 31, 2024
Product Warranties and Guarantees    
Beginning balance $ 35 $ 34
Accruals for warranties/guarantees issued during the year 15 31
Settlement/adjustment of warranty/guarantee claims (14) (30)
Ending balance $ 36 $ 35
v3.25.2
Income Taxes - (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Income Tax Disclosure [Abstract]        
Provision for income taxes $ 87 $ 29 $ 96 $ 59
Taxes paid, net of refunds $ 43 $ 60 $ 64 $ 88
v3.25.2
(Loss) Earnings Per Common Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Numerator for basic and diluted (loss) earnings per common share:        
Net (loss) income $ (825) $ 30 $ (819) $ 73
Less: preferred stock dividends 8 2 17 2
Net (loss) income available to common stockholders, basic (833) 28 (836) 71
Net (loss) income available to common stockholders, diluted $ (833) $ 28 $ (836) $ 71
Denominator for basic and diluted (loss) earnings per common share:        
Weighted average basic number of common shares outstanding (in shares) 149 146 148 146
Plus: dilutive effect of common stock equivalents (in shares) 0 3 0 2
Weighted average diluted number of common shares outstanding (in shares) 149 149 148 148
Basic (loss) earnings per common share:        
Basic (in dollars per share) $ (5.59) $ 0.19 $ (5.65) $ 0.49
Diluted (in dollars per share) $ (5.59) $ 0.19 $ (5.65) $ 0.48
v3.25.2
(Loss) Earnings Per Common Share - Schedule of Potentially Dilutive Instruments (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
RSUs and other rights        
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Purchase of outstanding common stock were anti-dilutive (in shares) 5.9 0.7 6.0 0.7
PSUs        
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Purchase of outstanding common stock were anti-dilutive (in shares) 2.2 0.9 2.2 1.1
Preferred stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share        
Purchase of outstanding common stock were anti-dilutive (in shares) 0.5 0.1 0.5 0.0
v3.25.2
Subsequent Events (Details) - USD ($)
 1 Months Ended 3 Months Ended
Jul. 31, 2025
Sep. 27, 2025
Jul. 30, 2025
Jun. 28, 2025
Dec. 31, 2024
Honeywell          
Subsequent Event          
Total indemnification liabilities       $ 1,716,000,000 $ 814,000,000
Fee owed upon termination of agreement       100,000,000  
Honeywell | Indemnification Agreement          
Subsequent Event          
Total indemnification liabilities       $ 1,625,000,000 $ 723,000,000
Honeywell | Forecast [Member]          
Subsequent Event          
Payments to settle indemnification agreement   $ 1,590,000,000      
Honeywell | Subsequent Event          
Subsequent Event          
Installment payments for indemnification liability $ (35,000,000)        
JPMorgan Chase Bank | Subsequent Event | New Term Loan Facility          
Subsequent Event          
Debt aggregate principal amount     $ 1,225,000,000