Amphenol Corp (APH) Q3 10-Q: Stock Buybacks & Split

TL;DR

APH bought back tons of stock and did a split in Q3. Management likes the stock.

AI Summary

Amphenol Corporation (APH) filed its 10-Q for the period ending September 30, 2024. The company reported significant stock repurchase activity, with $600 million authorized under its 2024 program and $500 million repurchased under its 2021 program as of September 30, 2024. Additionally, a stock split was effective on June 11, 2024.

Why It Matters

This filing details Amphenol's capital allocation strategy, highlighting substantial share repurchases which can signal management's confidence and potentially boost earnings per share.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $600.0M — Stock Repurchase Program Authorization (2024) (Indicates significant capital return to shareholders.)
• $500.0M — Stock Repurchased (2021 Program) (Shows ongoing commitment to share buybacks.)
• 2024-09-30 — Fiscal Period End Date (Defines the reporting quarter.)
• 2024-06-11 — Stock Split Effective Date (A significant corporate action affecting share count and price.)

Key Players & Entities

• Amphenol Corporation (company) — Filer of the 10-Q
• APH (company) — Ticker symbol for Amphenol Corporation
• 20240930 (date) — End of the reporting period
• $600000000 (dollar_amount) — Amount authorized for stock repurchase program in 2024
• $500000000 (dollar_amount) — Amount repurchased under the 2021 program as of September 30, 2024
• 2024-06-11 (date) — Effective date of the stock split

FAQ

Key Financial Figures

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

Filing Documents

• aph-20240930x10q.htm (10-Q) — 3180KB
• aph-20240930xex31d1.htm (EX-31.1) — 15KB
• aph-20240930xex31d2.htm (EX-31.2) — 15KB
• aph-20240930xex32d1.htm (EX-32.1) — 9KB
• aph-20240930xex32d2.htm (EX-32.2) — 9KB
• aph-20240930x10q002.jpg (GRAPHIC) — 5KB
• 0001558370-24-013696.txt ( ) — 14534KB
• aph-20240930.xsd (EX-101.SCH) — 61KB
• aph-20240930_cal.xml (EX-101.CAL) — 69KB
• aph-20240930_def.xml (EX-101.DEF) — 289KB
• aph-20240930_lab.xml (EX-101.LAB) — 540KB
• aph-20240930_pre.xml (EX-101.PRE) — 448KB
• aph-20240930x10q_htm.xml (XML) — 3805KB

Financial Statements (unaudited)

Financial Statements (unaudited) : Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flow for the Nine Months Ended September 30, 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 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 49 Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3. Defaults Upon Senior Securities 51 Item 4. Mine Safety Disclosures 51 Item 5. Other Information 51 Item 6. Exhibits 52 Signature 55 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) September 30, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 1,563.0 $ 1,475.0 Short-term investments 20.3 185.2 Total cash, cash equivalents and short-term investments 1,583.3 1,660.2 Accounts receivable, less allowance for doubtful accounts of $ 67.9 and $ 68.4 , respectively 3,130.3 2,618.4 Inventories 2,578.8 2,167.1 Prepaid expenses and other current assets 480.4 389.6 Total current assets 7,772.8 6,835.3 Property, plant and equipment, less accumulated depreciation of $ 2,479.0 and $ 2,261.8 , respectively 1,670.9 1,314.7 Goodwill 8,352.1 7,092.4 Other intangible assets, net 1,247.0 834.8 Other long-term assets 542.8 449.2 Total Assets $ 19,585.6 $ 16,526.4 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current Liabilities: Accounts payable $ 1,763.0 $ 1,350.9 Accrued salaries, wages and employee benefits 480.2 412.8 Accrued income taxes 124.4 166.0 Accrued dividends 198.9 131.7 Other accrued expenses 932.1 737.5 Current portion of long-term debt 403.1 353.8 Total current liabilities 3,901.7 3,152.7 Long-term debt, less current portion 5,081.0 3,983.5 Accrued pension and postretirement benefit obligations 147.4 143.0 Deferred income taxes 439.7 367.0 Other long-term liabilities 489.0 453.7 Total Liabilities 10,058.8 8,099.9 Redeemable noncontrolling interests 20.7 30.7 Equity: Common stock 1.2 1.2 Additional paid-in capital 3,457.6 3,100.6 Retained earnings 6,750.5 5,921.1 Treasury stock, at cost ( 236.9 ) ( 142.8 ) Accumulated other comprehensive loss ( 519.9 ) ( 533.6 ) Total stockholders' equity attributable to Amphenol Corporation 9,452.5 8,346.5 Noncontrolling interests 53.6 49.3 Total Equity 9,506.1 8,395.8