TRIMBLE INC
For the period ended Dec 29, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
TRMB$54.75+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
| (In millions, except per share amounts) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Revenue: | |||
| Product | $1,771.7 | $1,986.1 | $2,135.2 |
| Subscription and services | 2,027.0 | 1,690.2 | 1,523.9 |
| Total revenue | 3,798.7 | 3,676.3 | 3,659.1 |
| Cost of sales: | |||
| Product | 875.0 | 1,040.8 | 1,086.4 |
| Subscription and services | 482.2 | 444.9 | 450.3 |
| Amortization of purchased intangible assets | 108.7 | 85.0 | 87.7 |
| Total cost of sales | 1,465.9 | 1,570.7 | 1,624.4 |
| Gross margin | 2,332.8 | 2,105.6 | 2,034.7 |
| Operating expense: | |||
| Research and development | 664.3 | 542.1 | 536.6 |
| Sales and marketing | 583.0 | 553.6 | 506.8 |
| General and administrative | 487.5 | 422.2 | 369.1 |
| Restructuring | 45.6 | 30.2 | 10.3 |
| Amortization of purchased intangible assets | 103.6 | 46.6 | 50.9 |
| Total operating expense | 1,884.0 | 1,594.7 | 1,473.7 |
| Operating income | 448.8 | 510.9 | 561.0 |
| Non-operating income (expense), net: | |||
| Divestitures gain, net | 9.2 | 99.0 | 41.4 |
| Interest expense, net | (161.0) | (71.1) | (65.4) |
| Income from equity method investments, net | 28.1 | 31.1 | 37.7 |
| Other income (expense), net | 31.9 | (0.8) | (0.1) |
| Total non-operating income (expense), net | (91.8) | 58.2 | 13.6 |
| Income before taxes | 357.0 | 569.1 | 574.6 |
| Income tax provision | 45.7 | 119.4 | 81.8 |
| Net income | 311.3 | 449.7 | $492.8 |
| Net income attributable to noncontrolling interests | — | — | 0.1 |
| Net income attributable to Trimble Inc. | $311.3 | $449.7 | 492.7 |
| Earnings per share: | |||
| Basic | $1.26 | $1.81 | $1.96 |
| Diluted | $1.25 | $1.80 | $1.94 |
| Shares used in calculating earnings per share: | |||
| Basic | 247.9 | 248.6 | 251.4 |
| Diluted | 249.1 | 250.2 | 254.3 |
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