TRIMBLE INC.TRMB
TRIMBLE INC. Segments Disclosure
NOTE 8: SEGMENT AND GEOGRAPHIC INFORMATION
We determined our operating segments based on how our Chief Executive Officer, who is our CODM, views and evaluates operations. Various factors, including market separation and customer-specific applications, go-to-market channels, and products and services, were considered in determining these operating segments. Our CODM uses segment revenue and operating income to assess segment performance and to allocate resources. The CODM evaluates segment revenue and operating income by considering periodic forecast-to-actual variances and trends, as well as overall strategic initiatives. Asset information by segments is not regularly reviewed by the CODM.
In each of our segments, we sell many individual products. For this reason, it is impracticable to segregate and identify revenue for each of the individual products or group of products we sell.
Our reportable segments are described below:
•Architects, Engineers, Construction and Owners (“AECO”). This segment primarily serves organizations across architecture, engineering, construction, and asset ownership through a connected lifecycle solution. Within this segment, our most substantial product portfolios are focused on architectural and interior design, structural and civil engineering, building and infrastructure construction, and the operations and maintenance of assets. Products are sold through a multi-channel approach, including direct, indirect, and digital channels.
•Field Systems. This segment primarily serves customers working in surveying and mapping, civil construction, building construction field services, and positioning systems. Within this segment, our most substantial product portfolios are hardware and software solutions focused on geospatial, civil engineering construction, and positioning services. Products are sold and distributed primarily through a global network of independent distribution partners.
•Transportation and Logistics (“T&L”). This segment provides a suite of solutions for shippers, carriers, retailers, and intermediaries globally. Within this segment, our solutions are designed to create a connected supply chain by integrating all forms of transportation, drivers, back-office management, and freight operations to build a safer, simpler, and more efficient global supply chain. Products are sold directly to end users or through software integrations.
The following reportable segment tables reflect the revenue, costs and expenses, and operating income of our reportable operating segments under our management reporting system. Segment costs and expenses include directly attributable costs and certain indirect costs allocated to segments, such as facilities, information technology, cloud services, finance, legal, and human resources. This is consistent with the way the CODM evaluates each segment's performance and allocates resources.
Reportable Segments | |||||||||||||||||
AECO | Field Systems | T&L | |||||||||||||||
| (In millions) | |||||||||||||||||
| 2025 | |||||||||||||||||
| Segment revenue | $ | 1,498.6 | $ | 1,539.5 | $ | 549.2 | |||||||||||
Cost of sales | 235.1 | 636.7 | 145.2 | ||||||||||||||
Operating expense | 751.4 | 424.7 | 283.5 | ||||||||||||||
Operating income | $ | 512.1 | $ | 478.1 | $ | 120.5 | |||||||||||
Operating income % | 34.2 | % | 31.1 | % | 21.9 | % | |||||||||||
| 2024 | |||||||||||||||||
| Segment revenue | $ | 1,358.6 | $ | 1,535.9 | $ | 788.8 | |||||||||||
Cost of sales | 220.4 | 666.3 | 280.2 | ||||||||||||||
Operating expense | 674.6 | 427.6 | 353.5 | ||||||||||||||
Operating income | $ | 463.6 | $ | 442.0 | $ | 155.1 | |||||||||||
Operating income % | 34.1 | % | 28.8 | % | 19.7 | % | |||||||||||
| 2023 | |||||||||||||||||
| Segment revenue | $ | 1,110.5 | $ | 1,967.9 | $ | 720.3 | |||||||||||
| Cost of sales | 213.3 | 843.4 | 278.8 | ||||||||||||||
Operating expense | 568.2 | 521.0 | 323.3 | ||||||||||||||
Operating income | $ | 329.0 | $ | 603.5 | $ | 118.2 | |||||||||||
Operating income % | 29.6 | % | 30.7 | % | 16.4 | % | |||||||||||
A reconciliation of our total segment operating income to consolidated income before income taxes was as follows:
| 2025 | 2024 | 2023 | |||||||||||||||
| (In millions) | |||||||||||||||||
Total segment operating income | $ | 1,110.7 | $ | 1,060.7 | $ | 1,050.7 | |||||||||||
| Unallocated general corporate expenses | (122.6) | (123.5) | (116.0) | ||||||||||||||
| Amortization of purchased intangible assets | (172.0) | (199.0) | (212.3) | ||||||||||||||
| Acquisition / divestiture items | (19.1) | (81.6) | (72.4) | ||||||||||||||
| Stock-based compensation / deferred compensation | (151.5) | (163.5) | (151.1) | ||||||||||||||
| Restructuring and other costs | (53.5) | (32.4) | (50.1) | ||||||||||||||
| Consolidated operating income | 592.0 | 460.7 | 448.8 | ||||||||||||||
| Total non-operating (expense) income, net | (82.6) | 1,545.2 | (91.8) | ||||||||||||||
| Consolidated income before taxes | $ | 509.4 | $ | 2,005.9 | $ | 357.0 | |||||||||||
The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and is consistent with the Reportable Segment tables above.
Reportable Segments | |||||||||||||||||||||||
| AECO | Field Systems | T&L | Total | ||||||||||||||||||||
| (In millions) | |||||||||||||||||||||||
| 2025 | |||||||||||||||||||||||
| North America | $ | 935.7 | $ | 841.7 | $ | 298.5 | $ | 2,075.9 | |||||||||||||||
| Europe | 392.1 | 396.9 | 232.6 | 1,021.6 | |||||||||||||||||||
| Asia Pacific | 135.1 | 202.9 | 11.7 | 349.7 | |||||||||||||||||||
| Rest of World | 35.7 | 98.0 | 6.4 | 140.1 | |||||||||||||||||||
| Total segment revenue | $ | 1,498.6 | $ | 1,539.5 | $ | 549.2 | $ | 3,587.3 | |||||||||||||||
| 2024 | |||||||||||||||||||||||
| North America | $ | 819.8 | $ | 785.9 | $ | 473.0 | $ | 2,078.7 | |||||||||||||||
| Europe | 375.9 | 416.0 | 258.4 | 1,050.3 | |||||||||||||||||||
| Asia Pacific | 125.5 | 224.8 | 14.9 | 365.2 | |||||||||||||||||||
| Rest of World | 37.4 | 109.2 | 42.5 | 189.1 | |||||||||||||||||||
| Total segment revenue | $ | 1,358.6 | $ | 1,535.9 | $ | 788.8 | $ | 3,683.3 | |||||||||||||||
| 2023 | |||||||||||||||||||||||
| North America | $ | 655.5 | $ | 892.9 | $ | 470.1 | $ | 2,018.5 | |||||||||||||||
| Europe | 293.7 | 581.2 | 201.3 | 1,076.2 | |||||||||||||||||||
| Asia Pacific | 98.1 | 320.6 | 10.2 | 428.9 | |||||||||||||||||||
| Rest of World | 63.2 | 173.2 | 38.7 | 275.1 | |||||||||||||||||||
| Total segment revenue | $ | 1,110.5 | $ | 1,967.9 | $ | 720.3 | $ | 3,798.7 | |||||||||||||||
Total revenue in the United States as included in the Consolidated Statements of Income was $1,905.8 million, $1,911.2 million, and $1,855.2 million in 2025, 2024, and 2023. No single customer or country other than the United States accounted for 10% or more of our total revenue in 2025, 2024, and 2023. No single customer accounted for 10% or more of our accounts receivable at the end of 2025 and 2024.
The following table presents our physical long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets:
| At the End of Year | 2025 | 2024 | |||||||||
| (In millions) | |||||||||||
| United States | $ | 178.9 | $ | 178.0 | |||||||
| Europe | 102.3 | 96.0 | |||||||||
| Asia Pacific and Rest of World | 47.2 | 37.9 | |||||||||
Total long-lived assets | $ | 328.4 | $ | 311.9 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Feb 25, 2026 | Showing above |
| 2025 | Apr 25, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 26, 2021 | |
| 2020 | Feb 28, 2020 | |
| 2018 | Feb 22, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 24, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.