Amphenol Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Amphenol Corp. filed its Q1 2024 10-Q, detailing financial performance, stock activities, and segment revenues.</b>

AI Summary

AMPHENOL CORP /DE/ (APH) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Amphenol Corp. reported financial results for the quarter ended March 31, 2024. The company's filing includes data related to stock repurchase programs initiated in 2021 and 2024. Key financial statement elements such as retained earnings, treasury stock, and additional paid-in capital are detailed for multiple periods. Information on employee stock options and phantom stock plans is provided. Segment revenue data for Interconnect and Sensor Systems, Harsh Environment Solutions, and Communications Solutions is included for Q1 2024.

Why It Matters

For investors and stakeholders tracking AMPHENOL CORP /DE/, this filing contains several important signals. The filing provides a snapshot of Amphenol's financial health and operational performance as of Q1 2024, crucial for investors assessing current value and future prospects. Details on stock repurchase programs and equity plans offer insights into management's capital allocation strategy and shareholder return policies.

Risk Assessment

Risk Level: low — AMPHENOL CORP /DE/ shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating a routine disclosure of financial information.

Analyst Insight

Monitor future filings for trends in segment revenue growth and updates on stock repurchase activities to gauge ongoing business momentum.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-04-26 — Filing Date (Filed as of date)
• 2021-04-27 — Stock Repurchase Program Start Date (StockRepurchaseProgram2021Member)
• 2024-04-23 — Stock Repurchase Program Start Date (StockRepurchaseProgram2024Member)

Key Players & Entities

• AMPHENOL CORP /DE/ (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-04-26 (date) — Filed as of date
• 3678 (other) — Standard Industrial Classification for Electronic Connectors
• DE (other) — State of Incorporation
• 2032658900 (other) — Business phone number

FAQ

Key Dates

• 2024-03-31: Quarter End Date — Reporting period for the 10-Q
• 2024-04-26: Filing Date — Date the 10-Q was officially submitted to the SEC
• 2024-04-01: Subsequent Event Date — Related to stock repurchase program
• 2024-04-23: Subsequent Event Date — Related to stock repurchase program

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 par value APH New York Stock Exchan

Filing Documents

• aph-20240331x10q.htm (10-Q) — 2078KB
• aph-20240331xex31d1.htm (EX-31.1) — 15KB
• aph-20240331xex31d2.htm (EX-31.2) — 15KB
• aph-20240331xex32d1.htm (EX-32.1) — 9KB
• aph-20240331xex32d2.htm (EX-32.2) — 9KB
• aph-20240331x10q002.jpg (GRAPHIC) — 5KB
• 0001558370-24-005928.txt (&nbsp;) — 10175KB
• aph-20240331.xsd (EX-101.SCH) — 55KB
• aph-20240331_cal.xml (EX-101.CAL) — 65KB
• aph-20240331_def.xml (EX-101.DEF) — 251KB
• aph-20240331_lab.xml (EX-101.LAB) — 491KB
• aph-20240331_pre.xml (EX-101.PRE) — 397KB
• aph-20240331x10q_htm.xml (XML) — 2278KB

Financial Statements (unaudited)

Financial Statements (unaudited) : Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flow for the Three Months Ended March 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38 Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41 Signature 44 1 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AMPHENOL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (dollars in millions) March 31, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 1,857.1 $ 1,475.0 Short-term investments 106.4 185.2 Total cash, cash equivalents and short-term investments 1,963.5 1,660.2 Accounts receivable, less allowance for doubtful accounts of $ 68.0 and $ 68.4 , respectively 2,501.4 2,618.4 Inventories 2,152.9 2,167.1 Prepaid expenses and other current assets 423.9 389.6 Total current assets 7,041.7 6,835.3 Property, plant and equipment, less accumulated depreciation of $ 2,304.1 and $ 2,261.8 , respectively 1,311.6 1,314.7 Goodwill 7,100.5 7,092.4 Other intangible assets, net 785.4 834.8 Other long-term assets 483.3 449.2 Total Assets $ 16,722.5 $ 16,526.4 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current Liabilities: Accounts payable $ 1,264.7 $ 1,350.9 Accrued salaries, wages and employee benefits 351.2 412.8 Accrued income taxes 150.9 166.0 Accrued dividends 132.1 131.7 Other accrued expenses 771.7 737.5 Current portion of long-term debt 752.5 353.8 Total current liabilities 3,423.1 3,152.7 Long-term debt, less current portion 3,556.9 3,983.5 Accrued pension and postretirement benefit obligations 142.1 143.0 Deferred income taxes 371.0 367.0 Other long-term liabilities 464.8 453.7 Total Liabilities 7,957.9 8,099.9 Redeemable noncontrolling interests 30.9 30.7 Equity: Common stock 0.6 0.6 Additional paid-in capital 3,224.1 3,101.2 Retained earnings 6,163.5 5,921.1 Treasury stock, at cost ( 103.8 ) ( 142.8 ) Accumulated other comprehensive loss ( 602.9 ) ( 533.6 ) Total stockholders' equity attributable to Amphenol Corporation 8,681.5 8,346.5 Noncontrolling interests 52.2 49.3 Total Equity 8,733.7 8,395.8 Total