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

TL;DR

<b>Belden Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

BELDEN INC. (BDC) filed a Annual Report (10-K) with the SEC on February 13, 2024. Belden Inc. filed its 2023 Form 10-K on February 13, 2024. The filing covers the fiscal year ending December 31, 2023. Belden Inc. is classified under SIC code 3357 for Drawing and Insulating Nonferrous Wire. The company's principal business address is 1 North Brentwood Blvd, 15th Floor, St. Louis, MO 63105. Belden Inc. was formerly known as Belden CDT Inc. and Cable Design Technologies Corp.

Why It Matters

For investors and stakeholders tracking BELDEN INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Belden's financial health, operational performance, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's current standing and future prospects. Understanding the details within this filing allows stakeholders to evaluate risks, opportunities, and the company's compliance with regulatory requirements, informing investment decisions and strategic partnerships.

Risk Assessment

Risk Level: medium — BELDEN INC. shows moderate risk based on this filing. The filing is a standard annual report, indicating routine disclosure rather than immediate significant positive or negative events, but the complexity of financial reporting and potential for undisclosed risks warrants a medium risk assessment.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Belden Inc.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-02-13 — Filing Date (Filed as of Date)
• 363601505 — IRS Number (Filer IRS Number)
• DE — State of Incorporation (Filer State of Incorporation)
• 001-12561 — SEC File Number (Filer SEC File Number)
• 24626176 — Film Number (Filer Film Number)

Key Players & Entities

• BELDEN INC. (company) — Filer name
• 0000913142 (company) — Central Index Key
• 3357 (company) — Standard Industrial Classification
• 1 NORTH BRENTWOOD BLVD (company) — Business Address Street 1
• ST. LOUIS (company) — Business Address City
• MO (company) — Business Address State
• 63105 (company) — Business Address Zip
• BELDEN CDT INC. (company) — Former Company Name

Forward-Looking Statements

• Belden Inc. will continue to focus on its core business of drawing and insulating nonferrous wire. (BELDEN INC.) — high confidence, target: 2025-12-31

FAQ

Key Dates

• 2024-02-13: 10-K Filing — Submission of the annual report for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period covered by the 10-K.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share BDC The New York St
• $95.65 — 093,598,658 based on the closing price ($95.65) of such stock on such date. As of Feb
• $539.6 million — ber 31, 2023 and 2022, our backlog wa s $539.6 million and $800.4 million, respectively. Almos
• $800.4 m — 22, our backlog wa s $539.6 million and $800.4 million, respectively. Almost all of the

Filing Documents

• bdc-20231231.htm (10-K) — 2658KB
• exhibit108beldenincannualc.htm (EX-10.8) — 20KB
• exhibit1012executivesevera.htm (EX-10.12) — 137KB
• exhibit211_2023.htm (EX-21.1) — 83KB
• exhibit231_2023.htm (EX-23.1) — 5KB
• exhibit241_2023.htm (EX-24.1) — 37KB
• exhibit311_2023.htm (EX-31.1) — 10KB
• exhibit312_2023.htm (EX-31.2) — 10KB
• exhibit321_2023.htm (EX-32.1) — 5KB
• exhibit322_2023.htm (EX-32.2) — 5KB
• exhibit971policyrelatingto.htm (EX-97.1) — 36KB
• bdc-20231231_g1.jpg (GRAPHIC) — 204KB
• 0000913142-24-000007.txt (&nbsp;) — 16830KB
• bdc-20231231.xsd (EX-101.SCH) — 99KB
• bdc-20231231_cal.xml (EX-101.CAL) — 153KB
• bdc-20231231_def.xml (EX-101.DEF) — 580KB
• bdc-20231231_lab.xml (EX-101.LAB) — 1333KB
• bdc-20231231_pre.xml (EX-101.PRE) — 939KB
• bdc-20231231_htm.xml (XML) — 2880KB

Risk Factors

Item 1A. Risk Factors 9

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 18

Cybersecurity

Item 1C. Cybersecurity 18

Properties

Item 2. Properties 19

Legal Proceedings

Item 3. Legal Proceedings 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 20 Part II

Market for Registrant's Common Equity and Related Shareholder Matters

Item 5. Market for Registrant's Common Equity and Related Shareholder Matters 21

Selected Financial Data

Item 6. Selected Financial Data 22

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 23

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 34

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 37

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 78

Controls and Procedures

Item 9A. Controls and Procedures 79

Other Information

Item 9B. Other Information 81

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 81 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 82

Executive Compensation

Item 11. Executive Compensation 82

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

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 82

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 82

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 82 Part IV.

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 83

Signatures

Signatures 86 Part I

Business

Item 1. Business General Belden Inc. (the Company, us, we, or our) is a leading global supplier of network infrastructure and digitization solutions that makes the digital journey simpler, smarter and secure. We're moving beyond connectivity, from what we make to what we make possible through a performance-driven portfolio, forward-thinking expertise and purpose-built solutions. With a legacy of quality and reliability spanning 120-plus years, we have a strong foundation to continue building the future. Our business is organized around two global businesses, Enterprise Solutions and Industrial Automation Solutions, both of which benefit from favorable secular trends which we expect to drive future growth. Each business represents a reportable segment. Financial information about our segments appears in Note 6 to the Consolidated Financial Statements. We sell our products to distributors, end-users, installers, and directly to original equipment manufacturers (OEMs). Belden Inc. is a Delaware corporation incorporated in 1988, but the Company's roots date back to its founding by Joseph Belden in 1902. As used herein, unless an operating segment is identified or the context otherwise requires, "Belden," the "Company", and "we" refer to Belden Inc. and its subsidiaries as a whole. Strategy and Business Model Our purpose is to build the foundation for a digital world. Within Enterprise Solutions, our Smart Buildings products offer in-building wired and wireless infrastructures, fiber technology innovation, and design collaboration and customization to connect people with facilities through innovative solutions for enhanced human engagement, productivity, and security. Also within Enterprise Solutions, our Broadband Solutions products offer a broad portfolio of end-to-end solutions, industry-leading innovation and technology, and worldwide technical service and support to enable a connected, digital world through broadband and wireless innovation. Within Industrial A

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View this 10-K filing on SEC EDGAR