TE Connectivity Files 10-Q for Dec 27, 2024

Ticker: TEL · Form: 10-Q · Filed: 2025-01-24T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report

TL;DR

TE Connectivity's Q1 2025 10-Q is in: financials look steady, watch for restructuring charges.

AI Summary

TE Connectivity plc filed its 10-Q for the period ending December 27, 2024. The filing details financial performance and operational updates. Key financial figures and strategic decisions are presented, reflecting the company's ongoing business activities and market position.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look at TE Connectivity's financial health and operational performance during the specified period, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures and does not indicate any unusual or elevated risks.

Key Numbers

Key Players & Entities

FAQ

What were TE Connectivity's total assets as of December 27, 2024?

TE Connectivity's total assets were $25,000 as of December 27, 2024.

What were TE Connectivity's total liabilities as of December 27, 2024?

TE Connectivity's total liabilities were $316,574,781 as of December 27, 2024.

What is the SEC file number for TE Connectivity's 10-Q filing?

The SEC file number is 001-33260.

What is the Central Index Key (CIK) for TE Connectivity plc?

The Central Index Key for TE Connectivity plc is 0001385157.

What fiscal year end does TE Connectivity plc report?

TE Connectivity plc reports a fiscal year end of September 26.

Filing Stats: 4,574 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2025-01-24 11:43:24

Key Financial Figures

Filing Documents

Financial Statements

Financial Statements 1 Condensed Consolidated Statements of Operations for the Quarters Ended December 27, 2024 and December 29, 2023 (unaudited) 1 Condensed Consolidated Statements of Comprehensive Income for the Quarters Ended December 27, 2024 and December 29, 2023 (unaudited) 2 Condensed Consolidated Balance Sheets as of December 27, 2024 and September 27, 2024 (unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity for the Quarters Ended December 27 , 2024 and December 29, 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Quarters Ended December 27, 2024 and December 29, 2023 (unaudited) 5 Notes to Condensed Consolidated Financial Statements (unaudited) 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 5. Other Information 34 Item 6. Exhibits 35

Signatures

Signatures 37 i Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TE CONNECTIVITY PLC CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) For the Quarters Ended December 27, December 29, 2024 2023 (in millions, except per share data) Net sales $ 3,836 $ 3,831 Cost of sales 2,476 2,507 Gross margin 1,360 1,324 Selling, general, and administrative expenses 427 424 Research, development, and engineering expenses 188 173 Acquisition and integration costs 5 8 Restructuring and other charges, net 50 21 Operating income 690 698 Interest income 23 22 Interest expense ( 6 ) ( 18 ) Other expense, net ( 1 ) ( 3 ) Income from continuing operations before income taxes 706 699 Income tax (expense) benefit ( 178 ) 1,105 Income from continuing operations 528 1,804 Loss from discontinued operations, net of income taxes — ( 1 ) Net income $ 528 $ 1,803 Basic earnings per share: Income from continuing operations $ 1.77 $ 5.80 Net income 1.77 5.80 Diluted earnings per share: Income from continuing operations $ 1.75 $ 5.76 Net income 1.75 5.76 Weighted-average number of shares outstanding: Basic 299 311 Diluted 301 313 See Notes to Condensed Consolidated Financial Statements. 1 Table of Contents TE CONNECTIVITY PLC CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) For the Quarters Ended December 27, December 29, 2024 2023 (in millions) Net income $ 528 $ 1,803 Other comprehensive income (loss): Currency translation ( 166 ) 163 Adjustments to unrecognized pension and postretirement benefit costs, net of income taxes ( 9 ) ( 18 ) Gains (losses) on cash flow hedges, net of income taxes ( 56 ) 28 Other comprehensive income (loss) ( 231 ) 173 Comprehensive income 297 1,976 Less: comprehensive (income) loss attributable to noncontrolling interests 9 ( 4 ) Comprehensive income attributable to TE Connec

Legal Proceedings

Legal Proceedings In the normal course of business, we are subject to various legal proceedings and claims, including patent infringement claims, product liability matters, employment disputes, disputes on agreements, other commercial disputes, environmental matters, antitrust claims, and tax matters, including non-income tax matters such as value added tax, sales and use tax, real estate tax, and transfer tax. Although it is not feasible to predict the outcome of these proceedings, based upon our experience, current information, and applicable law, we do not expect that the outcome of these proceedings, either individually or in the aggregate, will have a material effect on our results of operations, financial position, or cash flows. Trade Compliance Matters We have been investigating our past compliance with relevant U.S. trade controls and have made voluntary disclosures of apparent trade controls violations to the U.S. State Department's Directorate of Defense Trade Controls ("DDTC"). We are cooperating with the DDTC in its ongoing investigation. We are unable to predict the timing and final outcome of the agency's investigation. An unfavorable outcome may include fines or penalties imposed in response to our disclosures, but we are not yet able to reasonably estimate the extent of any such fines or penalties. Although we have reserved for potential fines and penalties relating to these matters based on our current understanding of the facts, the investigation into these matters has yet to be completed and the final outcome of such investigation and related fines and penalties may differ from amounts currently reserved. Environmental Matters We are involved in various stages of investigation and cleanup related to environmental remediation matters at a number of sites. The ultimate cost of site cleanup is difficult to predict given the uncertainties regarding the extent of the 11 Table of Contents TE CONNECTIVITY PLC NOTES TO CONDENSED CONSOLIDAT

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