Trimble Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Trimble Inc. has submitted its 2023 annual report (10-K), detailing its financial performance and business operations for the fiscal year ending December 29, 2023.</b>

AI Summary

TRIMBLE INC. (TRMB) filed a Annual Report (10-K) with the SEC on February 26, 2024. Trimble Inc. filed its 2023 Form 10-K on February 26, 2024. The filing covers the fiscal year ending December 29, 2023. The company's principal executive offices are located in Westminster, Colorado. Trimble Inc. was formerly known as Trimble Navigation Ltd /CA/. The SIC code for Trimble Inc. is 3829 (Measuring & Controlling Devices, NEC).

Why It Matters

For investors and stakeholders tracking TRIMBLE INC., this filing contains several important signals. The 10-K filing provides a comprehensive overview of Trimble's financial health, operational segments, and strategic direction for investors and stakeholders. This annual report is crucial for understanding the company's performance trends, including revenue generation, profitability, and market positioning within the technology sector.

Risk Assessment

Risk Level: — TRIMBLE INC. shows moderate risk based on this filing. The company's financial performance and future outlook are subject to market conditions and competitive pressures within the technology sector, as detailed in its risk factors.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Trimble's performance and future growth prospects.

Key Numbers

• 2023-12-29 — Fiscal Year End (Reporting period)
• 2024-02-26 — Filing Date (Date of submission)
• 001-14845 — SEC File Number (SEC filing identifier)

Key Players & Entities

• Trimble Inc. (company) — Filer
• Trimble Navigation Ltd /CA/ (company) — Former company name
• Westminster, Colorado (location) — Business address
• 3829 (industry_code) — Standard Industrial Classification

FAQ

Risk Factors

• Market and Competitive Risks [medium — market]: The company faces risks related to market conditions, competition, and technological changes that could impact its business and financial results.

Industry Context

Trimble Inc. operates in the technology sector, providing hardware, software, and services for various industries. The company's SIC code is 3829 (Measuring & Controlling Devices, NEC).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze revenue breakdown by segment (Product vs. Subscription/Services) for growth trends.
2. Evaluate the company's debt-to-equity ratio and cash position for financial stability.
3. Review the identified risk factors to understand potential challenges to future performance.

Key Dates

• 2023-12-29: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-26: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This 10-K filing represents the company's annual performance review for the fiscal year 2023, following previous filings.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value TRMB NASDAQ Global Select Mar

Filing Documents

• trmb-20231229.htm (10-K) — 2241KB
• ex211202310k.htm (EX-21.1) — 107KB
• ex231202310k.htm (EX-23.1) — 4KB
• ex311202310k.htm (EX-31.1) — 10KB
• ex312202310k.htm (EX-31.2) — 10KB
• ex321202310k.htm (EX-32.1) — 5KB
• ex322202310k.htm (EX-32.2) — 5KB
• trmb-20231229_g1.jpg (GRAPHIC) — 22KB
• trmb-20231229_g2.jpg (GRAPHIC) — 60KB
• trmb-20231229_g3.jpg (GRAPHIC) — 43KB
• trmb-20231229_g4.jpg (GRAPHIC) — 45KB
• trmb-20231229_g5.jpg (GRAPHIC) — 113KB
• 0000864749-24-000047.txt (&nbsp;) — 12089KB
• trmb-20231229.xsd (EX-101.SCH) — 60KB
• trmb-20231229_cal.xml (EX-101.CAL) — 140KB
• trmb-20231229_def.xml (EX-101.DEF) — 341KB
• trmb-20231229_lab.xml (EX-101.LAB) — 925KB
• trmb-20231229_pre.xml (EX-101.PRE) — 619KB
• trmb-20231229_htm.xml (XML) — 1797KB

Risk Factors

Item 1A Risk Factors 12

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 25 Item 1C Cybersecurity 25

Properties

Item 2 Properties 26

Legal Proceedings

Item 3 Legal Proceedings 26

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 26 PART II

Market for Registrant's Common Equity, Related Stockholder Matters , and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters , and Issuer Purchases of Equity Securities 27

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures about Market Risk

Item 7A Quantitative and Qualitative Disclosures about Market Risk 42

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 44

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 76

Controls and Procedures

Item 9A Controls and Procedures 76

Other Information

Item 9B Other Information 77

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 77 PART III

Directors, Executive Officers, and Corporate Governance

Item 10 Directors, Executive Officers, and Corporate Governance 78

Executive Compensation

Item 11 Executive Compensation 78

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 78

Certain Relationships, Related Transactions, and Director Independence

Item 13 Certain Relationships, Related Transactions, and Director Independence 78

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 78 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 79

Form 10-K Summary

Item 16 Form 10-K Summary 79

Signatures

Signatures 82 ii Table of Contents PART I

Business

Item 1. Business Trimble is a leading technology solutions provider that enables office and mobile professionals to connect their workflows and asset lifecycles to drive a more productive, sustainable future. With a focus on the industries that feed, build, and move the world, the comprehensive depth and breadth of our solutions is transforming the way the world works, making it easier for Trimble customers to focus on what matters—getting the job done right. We innovate at the intersection of the digital and physical worlds with solutions that span the world's foundational industries including building, civil and infrastructure construction, geospatial, survey and mapping, agriculture, natural resources, utilities, transportation, and government. We exist to empower our customers: asset owners, general and specialty contractors, engineers and designers, surveyors, agricultural companies and farmers, energy and utility companies, trucking companies and drivers, as well as state, federal, and municipal governments. Productivity and sustainability are at the heart of who we are—woven into our work internally and through our customers' application of our technologies. Our solutions provide customers with the ability to improve their work quality while being safe, efficient, and sustainable. More than that, our products enable reduced environmental impact in our markets, ranging from reduced greenhouse gas ("GHG") emissions to improved water stewardship. Today's work requires solutions for an interconnected world, no matter the industry. Trimble offers a diverse range of coherent capabilities that connect applications, data, workflows, and mobile technologies to more efficiently orchestrate work, often in mixed fleet environments. Our advanced positioning and autonomous guidance capabilities enable increased precision with large equipment, such as agricultural tractors and construction bulldozers. We offer integrated systems that track and manage fleets of vehicles

View Full Filing

View this 10-K filing on SEC EDGAR