(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of exchange on which registered | ||||||
Item 2.02 | Results of Operations and Financial Condition. |
Item 9.01 | Financial Statements and Exhibits. |
Exhibit No. | Description | |||||||
99.1 | ||||||||
104 | Cover Page Interactive Data File (embedded within inline XBRL document) |
SENSATA TECHNOLOGIES HOLDING PLC | |||||||||||||||||
/s/ Maria Freve | |||||||||||||||||
Date: | February 1, 2022 | Name: Maria Freve | |||||||||||||||
Title: Vice President and Chief Accounting Officer |
For the three months ended December 31, | For the full year ended December 31, | |||||||||||||||||||||||||
$ in 000s | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
Performance Sensing | ||||||||||||||||||||||||||
Revenue | $ | 685,078 | $ | 688,978 | $ | 2,847,908 | $ | 2,223,810 | ||||||||||||||||||
Operating income | $ | 185,587 | $ | 185,101 | $ | 777,237 | $ | 532,529 | ||||||||||||||||||
% of Performance Sensing revenue | 27.1 | % | 26.9 | % | 27.3 | % | 23.9 | % | ||||||||||||||||||
Sensing Solutions | ||||||||||||||||||||||||||
Revenue | $ | 249,519 | $ | 217,513 | $ | 972,898 | $ | 821,768 | ||||||||||||||||||
Operating income | $ | 74,480 | $ | 70,673 | $ | 293,185 | $ | 241,218 | ||||||||||||||||||
% of Sensing Solutions revenue | 29.8 | % | 32.5 | % | 30.1 | % | 29.4 | % |
Fiscal Year 2022 Guidance | |||||||||||
$ in millions, except EPS | FY-22 Guidance | FY-21 | Y/Y Change | ||||||||
Revenue | $4,125- $4,275 | $3,820.8 | 8% - 12% | ||||||||
organic growth | 6% - 10% | ||||||||||
Adjusted Operating Income | $848 - $892 | $806.0 | 5% - 11% | ||||||||
Adjusted Net Income | $600 - $640 | $566.8 | 6% - 13% | ||||||||
Adjusted EPS | $3.80 - $4.06 | $3.56 | 7% - 14% |
Q1 2022 Guidance | |||||||||||
$ in millions, except EPS | Q1-22 Guidance | Q1-21 | Y/Y Change | ||||||||
Revenue | $935 - $975 | $942.5 | (1%) - 3% | ||||||||
organic growth | (4%) - 1% | ||||||||||
Adjusted Operating Income | $171 - $183 | $198.1 | (14%) - (8%) | ||||||||
Adjusted Net Income | $112 - $124 | $137.6 | (19%) - (10%) | ||||||||
Adjusted EPS | $0.70 - $0.78 | $0.86 | (19%) - (9%) |
SENSATA TECHNOLOGIES HOLDING PLC | ||
Condensed Consolidated Statements of Operations | ||
(In thousands, except per share amounts) | ||
(Unaudited) |
For the three months ended December 31, | For the full year ended December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Net revenue | $ | 934,597 | $ | 906,491 | $ | 3,820,806 | $ | 3,045,578 | ||||||||||||||||||
Operating costs and expenses: | ||||||||||||||||||||||||||
Cost of revenue | 619,878 | 609,940 | 2,542,434 | 2,119,044 | ||||||||||||||||||||||
Research and development | 40,143 | 33,314 | 159,072 | 131,429 | ||||||||||||||||||||||
Selling, general and administrative | 87,261 | 77,027 | 336,989 | 294,725 | ||||||||||||||||||||||
Amortization of intangible assets | 32,637 | 31,152 | 134,129 | 129,549 | ||||||||||||||||||||||
Restructuring and other charges, net | 4,986 | 897 | 14,942 | 33,094 | ||||||||||||||||||||||
Total operating costs and expenses | 784,905 | 752,330 | 3,187,566 | 2,707,841 | ||||||||||||||||||||||
Operating income | 149,692 | 154,161 | 633,240 | 337,737 | ||||||||||||||||||||||
Interest expense, net | (44,898) | (47,417) | (179,291) | (171,757) | ||||||||||||||||||||||
Other, net | 7,756 | 1,172 | (40,032) | (339) | ||||||||||||||||||||||
Income before taxes | 112,550 | 107,916 | 413,917 | 165,641 | ||||||||||||||||||||||
Provision for/(benefit from) income taxes | 578 | (13,751) | 50,337 | 1,355 | ||||||||||||||||||||||
Net Income | 111,972 | 121,667 | 363,580 | 164,286 | ||||||||||||||||||||||
Net income per share: | ||||||||||||||||||||||||||
Basic | $ | 0.71 | $ | 0.77 | $ | 2.30 | $ | 1.04 | ||||||||||||||||||
Diluted | $ | 0.70 | $ | 0.77 | $ | 2.28 | $ | 1.04 | ||||||||||||||||||
Weighted-average ordinary shares outstanding: | ||||||||||||||||||||||||||
Basic | 158,299 | 157,488 | 158,166 | 157,373 | ||||||||||||||||||||||
Diluted | 159,428 | 158,567 | 159,370 | 158,134 | ||||||||||||||||||||||
SENSATA TECHNOLOGIES HOLDING PLC | ||
Condensed Consolidated Balance Sheets | ||
(In thousands) | ||
(Unaudited) |
December 31, 2021 | December 31, 2020 | |||||||||||||
Assets | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 1,708,955 | $ | 1,861,980 | ||||||||||
Accounts receivable, net of allowances | 653,438 | 576,647 | ||||||||||||
Inventories | 588,231 | 451,005 | ||||||||||||
Prepaid expenses and other current assets | 126,370 | 90,340 | ||||||||||||
Total current assets | 3,076,994 | 2,979,972 | ||||||||||||
Property, plant and equipment, net | 820,933 | 803,825 | ||||||||||||
Goodwill | 3,502,063 | 3,111,349 | ||||||||||||
Other intangible assets, net | 946,731 | 691,549 | ||||||||||||
Deferred income tax assets | 105,028 | 84,785 | ||||||||||||
Other assets | 162,017 | 172,722 | ||||||||||||
Total assets | $ | 8,613,766 | $ | 7,844,202 | ||||||||||
Liabilities and equity | ||||||||||||||
Current liabilities: | ||||||||||||||
Current portion of long-term debt, finance lease and other financing obligations | $ | 6,833 | $ | 757,205 | ||||||||||
Accounts payable | 459,093 | 393,907 | ||||||||||||
Income taxes payable | 26,517 | 19,215 | ||||||||||||
Accrued expenses and other current liabilities | 343,816 | 324,830 | ||||||||||||
Total current liabilities | 836,259 | 1,495,157 | ||||||||||||
Deferred income tax liabilities | 339,273 | 259,857 | ||||||||||||
Pension and other post-retirement benefit obligations | 38,758 | 48,002 | ||||||||||||
Finance lease and other financing obligations, less current portion | 26,564 | 27,931 | ||||||||||||
Long-term debt, net | 4,214,946 | 3,213,747 | ||||||||||||
Other long-term liabilities | 63,232 | 94,022 | ||||||||||||
Total liabilities | 5,519,032 | 5,138,716 | ||||||||||||
Total equity | 3,094,734 | 2,705,486 | ||||||||||||
Total liabilities and equity | $ | 8,613,766 | $ | 7,844,202 |
SENSATA TECHNOLOGIES HOLDING PLC | ||
Condensed Consolidated Statements of Cash Flows | ||
(In thousands) | ||
(Unaudited) |
For the year ended December 31, | ||||||||||||||
2021 | 2020 | |||||||||||||
Cash flows from operating activities: | ||||||||||||||
Net income | $ | 363,580 | $ | 164,286 | ||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Depreciation | 124,959 | 125,680 | ||||||||||||
Amortization of debt issuance costs | 6,858 | 6,854 | ||||||||||||
Share-based compensation | 25,663 | 19,125 | ||||||||||||
Loss on debt financing | 30,066 | — | ||||||||||||
Amortization of intangible assets | 134,129 | 129,549 | ||||||||||||
Deferred income taxes | (5,270) | (44,900) | ||||||||||||
Acquisition-related deferred compensation payments | (15,630) | — | ||||||||||||
Unrealized loss on derivative instruments and other | 13,837 | 4,709 | ||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions | (124,041) | 154,472 | ||||||||||||
Net cash provided by operating activities | 554,151 | 559,775 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||
Acquisitions, net of cash received | (736,077) | (64,432) | ||||||||||||
Additions to property, plant and equipment and capitalized software | (144,403) | (106,719) | ||||||||||||
Investment in debt and equity securities | (5,533) | (22,963) | ||||||||||||
Other | 3,919 | 12,022 | ||||||||||||
Net cash used in investing activities | (882,094) | (182,092) | ||||||||||||
Cash flows from financing activities: | ||||||||||||||
Proceeds from exercise of stock options and issuance of ordinary shares | 26,290 | 15,457 | ||||||||||||
Payment of employee restricted stock tax withholdings | (9,048) | (2,911) | ||||||||||||
Proceeds from borrowings on debt | 1,001,875 | 1,150,000 | ||||||||||||
Payments on debt | (763,263) | (408,914) | ||||||||||||
Payments to repurchase ordinary shares | (47,843) | (35,175) | ||||||||||||
Payments of debt financing costs | (33,093) | (8,279) | ||||||||||||
Net cash provided by financing activities | 174,918 | 710,178 | ||||||||||||
Net change in cash and cash equivalents | (153,025) | 1,087,861 | ||||||||||||
Cash and cash equivalents, beginning of year | 1,861,980 | 774,119 | ||||||||||||
Cash and cash equivalents, end of year | $ | 1,708,955 | $ | 1,861,980 |
(percent of total revenue) | Three months ended December 31, | Full year ended December 31, | ||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Performance Sensing | 73.3 | % | 76.0 | % | 74.5 | % | 73.0 | % | ||||||||||||||||||
Sensing Solutions | 26.7 | % | 24.0 | % | 25.5 | % | 27.0 | % | ||||||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % |
(percent of total revenue) | Three months ended December 31, | Full year ended December 31, | ||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Americas | 38.4 | % | 37.6 | % | 38.0 | % | 39.3 | % | ||||||||||||||||||
Europe | 24.7 | % | 27.2 | % | 26.2 | % | 26.8 | % | ||||||||||||||||||
Asia/Rest of World | 36.9 | % | 35.2 | % | 35.8 | % | 33.9 | % | ||||||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % |
(percent of total revenue) | Three months ended December 31, | Full year ended December 31, | ||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Automotive (1) | 52.0 | % | 60.4 | % | 54.0 | % | 57.5 | % | ||||||||||||||||||
Heavy vehicle and off-road | 22.5 | % | 16.9 | % | 21.7 | % | 16.7 | % | ||||||||||||||||||
Industrial | 11.9 | % | 9.9 | % | 10.8 | % | 11.0 | % | ||||||||||||||||||
Appliance and heating, ventilation and air-conditioning | 6.2 | % | 5.9 | % | 6.4 | % | 6.2 | % | ||||||||||||||||||
Aerospace | 3.7 | % | 3.9 | % | 3.5 | % | 4.5 | % | ||||||||||||||||||
All other | 3.7 | % | 3.0 | % | 3.6 | % | 4.1 | % | ||||||||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % |
For the three months ended December 31, 2021 | For the full year ended December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||
Reported Growth | Organic Growth | End Market Growth | Reported Growth | Organic Growth | End Market Growth | ||||||||||||||||||||||||||||||||||||
Automotive | (11.3 | %) | (11.7 | %) | (16.2 | %) | * | 17.6 | % | 15.1 | % | 1.2 | % | * | |||||||||||||||||||||||||||
Heavy vehicle and off-road | 36.8 | % | 16.4 | % | (0.6 | %) | 63.3 | % | 46.4 | % | 24.4 | % |
($ in thousands, except per share amounts) | For the three months ended December 31, 2021 | ||||||||||||||||||||||||||||
Operating Income | Operating Margin | Income Taxes | Net Income | Diluted EPS | |||||||||||||||||||||||||
Reported (GAAP) | $ | 149,692 | 16.0 | % | $ | 578 | $ | 111,972 | $ | 0.70 | |||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||
Restructuring related and other | 7,876 | 0.8 | % | (3,167) | 1,760 | 0.01 | |||||||||||||||||||||||
Financing and other transaction costs | 7,093 | 0.8 | % | (65) | 5,182 | 0.03 | |||||||||||||||||||||||
Step-up depreciation and amortization | 31,606 | 3.4 | % | — | 31,606 | 0.20 | |||||||||||||||||||||||
Deferred loss/(gain) on derivative instruments | 1,325 | 0.1 | % | — | (2,170) | (0.01) | |||||||||||||||||||||||
Amortization of debt issuance costs | — | — | % | — | 1,716 | 0.01 | |||||||||||||||||||||||
Deferred taxes and other tax related | — | — | % | (10,758) | (10,758) | (0.07) | |||||||||||||||||||||||
Total adjustments | 47,900 | 5.1 | % | (13,990) | 27,336 | 0.17 | |||||||||||||||||||||||
Adjusted (non-GAAP) | $ | 197,592 | 21.1 | % | $ | 14,568 | $ | 139,308 | $ | 0.87 |
($ in thousands, except per share amounts) | For the three months ended December 31, 2020 | ||||||||||||||||||||||||||||
Operating Income | Operating Margin | Income Tax | Net Income | Diluted EPS | |||||||||||||||||||||||||
Reported (GAAP) | $ | 154,161 | 17.0 | % | $ | (13,751) | $ | 121,667 | $ | 0.77 | |||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||
Restructuring related and other | 8,379 | 0.9 | % | 4,123 | 17,025 | 0.11 | |||||||||||||||||||||||
Financing and other transaction costs | 1,014 | 0.1 | % | — | (832) | (0.01) | |||||||||||||||||||||||
Step-up depreciation and amortization | 30,042 | 3.3 | % | — | 30,042 | 0.19 | |||||||||||||||||||||||
Deferred loss/(gain) on derivative instruments | 2,045 | 0.2 | % | — | (1,992) | (0.01) | |||||||||||||||||||||||
Amortization of debt issuance costs | — | — | % | — | 1,828 | 0.01 | |||||||||||||||||||||||
Deferred taxes and other tax related | — | — | % | (33,053) | (33,053) | (0.21) | |||||||||||||||||||||||
Total adjustments | 41,480 | 4.6 | % | (28,930) | 13,018 | 0.08 | |||||||||||||||||||||||
Adjusted (non-GAAP) | $ | 195,641 | 21.6 | % | $ | 15,179 | $ | 134,685 | $ | 0.85 |
($ in thousands, except per share amounts) | For the full year ended December 31, 2021 | ||||||||||||||||||||||||||||
Operating Income | Operating Margin | Income Tax | Net Income | Diluted EPS | |||||||||||||||||||||||||
Reported (GAAP) | $ | 633,240 | 16.6 | % | $ | 50,337 | $ | 363,580 | $ | 2.28 | |||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||
Restructuring related and other | 23,565 | 0.6 | % | (3,500) | 21,356 | 0.13 | |||||||||||||||||||||||
Financing and other transaction costs (1) | 13,236 | 0.3 | % | (65) | 40,977 | 0.26 | |||||||||||||||||||||||
Step-up depreciation and amortization | 127,642 | 3.3 | % | — | 127,642 | 0.80 | |||||||||||||||||||||||
Deferred loss on derivative instruments | 8,327 | 0.2 | % | — | 11,294 | 0.07 | |||||||||||||||||||||||
Amortization of debt issuance costs | — | — | % | — | 6,858 | 0.04 | |||||||||||||||||||||||
Deferred taxes and other tax related (2) | — | — | % | (4,865) | (4,865) | (0.03) | |||||||||||||||||||||||
Total adjustments | 172,770 | 4.5 | % | (8,430) | 203,262 | 1.28 | |||||||||||||||||||||||
Adjusted (non-GAAP) | $ | 806,010 | 21.1 | % | $ | 58,767 | $ | 566,842 | $ | 3.56 |
($ in thousands, except per share amounts) | For the full year ended December 31, 2020 | ||||||||||||||||||||||||||||
Operating Income | Operating Margin | Income Tax | Net Income | Diluted EPS | |||||||||||||||||||||||||
Reported (GAAP) | $ | 337,737 | 11.1 | % | $ | 1,355 | $ | 164,286 | $ | 1.04 | |||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||
Restructuring related and other (1) | 87,420 | 2.9 | % | (4,214) | 93,803 | 0.59 | |||||||||||||||||||||||
Financing and other transaction costs | 8,209 | 0.3 | % | — | 6,363 | 0.04 | |||||||||||||||||||||||
Step-up depreciation and amortization | 125,677 | 4.1 | % | — | 125,677 | 0.79 | |||||||||||||||||||||||
Deferred loss/(gain) on derivative instruments | 3,066 | 0.1 | % | — | (6,961) | (0.04) | |||||||||||||||||||||||
Amortization of debt issuance costs | — | — | % | — | 6,854 | 0.04 | |||||||||||||||||||||||
Deferred taxes and other tax related | — | — | % | (40,856) | (40,856) | (0.26) | |||||||||||||||||||||||
Total adjustments | 224,372 | 7.4 | % | (45,070) | 184,880 | 1.17 | |||||||||||||||||||||||
Adjusted (non-GAAP) | $ | 562,109 | 18.5 | % | $ | 46,425 | $ | 349,166 | $ | 2.21 |
(in thousands) | For the three months ended December 31, | For the full year ended December 31, | ||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Cost of revenue (1) | $ | 7,060 | $ | 4,802 | $ | 16,525 | $ | 42,873 | ||||||||||||||||||||||||
Selling, general and administrative | 4,657 | 6,262 | 15,321 | 25,490 | ||||||||||||||||||||||||||||
Amortization of intangible assets | 31,197 | 29,519 | 125,982 | 122,915 | ||||||||||||||||||||||||||||
Restructuring and other charges, net (2) | 4,986 | 897 | 14,942 | 33,094 | ||||||||||||||||||||||||||||
Operating income adjustments | 47,900 | 41,480 | 172,770 | 224,372 | ||||||||||||||||||||||||||||
Interest expense, net | 1,716 | 1,828 | 6,858 | 6,854 | ||||||||||||||||||||||||||||
Other, net (3) | (8,290) | (1,360) | 32,064 | (1,276) | ||||||||||||||||||||||||||||
Provision for/(benefit from) income taxes (4) | (13,990) | (28,930) | (8,430) | (45,070) | ||||||||||||||||||||||||||||
Net income adjustments | $ | 27,336 | $ | 13,018 | $ | 203,262 | $ | 184,880 |
($ in thousands) | Three months ended December 31, | Full year ended December 31, | |||||||||||||||||||||||||||||||||
2021 | 2020 | % Change | 2021 | 2020 | % Change | ||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 160,925 | $ | 266,437 | (39.6 | %) | $ | 554,151 | $ | 559,775 | (1.0 | %) | |||||||||||||||||||||||
Additions to property, plant and equipment and capitalized software | (43,993) | (26,780) | (64.3 | %) | (144,403) | (106,719) | (35.3 | %) | |||||||||||||||||||||||||||
Free cash flow | $ | 116,932 | $ | 239,657 | (51.2 | %) | $ | 409,748 | $ | 453,056 | (9.6 | %) |
Three months ended December 31, | Full year ended December 31, | |||||||||||||||||||||||||
(in thousands) | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
Net income | $ | 111,972 | $ | 121,667 | $ | 363,580 | $ | 164,286 | ||||||||||||||||||
Interest expense, net | 44,898 | 47,417 | 179,291 | 171,757 | ||||||||||||||||||||||
Provision for/(benefit from) income taxes | 578 | (13,751) | 50,337 | 1,355 | ||||||||||||||||||||||
Depreciation expense | 30,598 | 31,464 | 124,959 | 125,680 | ||||||||||||||||||||||
Amortization of intangible assets | 32,637 | 31,152 | 134,129 | 129,549 | ||||||||||||||||||||||
EBITDA | 220,683 | 217,949 | 852,296 | 592,627 | ||||||||||||||||||||||
Non-GAAP Adjustments | ||||||||||||||||||||||||||
Restructuring related and other | 4,927 | 12,902 | 23,644 | 93,117 | ||||||||||||||||||||||
Financing and other transaction costs | 5,247 | (832) | 41,042 | 6,363 | ||||||||||||||||||||||
Deferred (gain)/loss on derivative instruments | (2,170) | (1,992) | 11,294 | (6,961) | ||||||||||||||||||||||
Adjusted EBITDA | $ | 228,687 | $ | 228,027 | $ | 928,276 | $ | 685,146 |
As of | ||||||||||||||
($ in thousands) | December 31, 2021 | December 31, 2020 | ||||||||||||
Current portion of long-term debt, finance lease and other financing obligations (1) | $ | 6,833 | $ | 757,205 | ||||||||||
Finance lease and other financing obligations, less current portion | 26,564 | 27,931 | ||||||||||||
Long-term debt, net | 4,214,946 | 3,213,747 | ||||||||||||
Total debt, finance lease, and other financing obligations | 4,248,343 | 3,998,883 | ||||||||||||
Less: Discount, net of premium | (5,207) | (9,605) | ||||||||||||
Less: Deferred financing costs | (26,682) | (28,114) | ||||||||||||
Total Gross indebtedness | 4,280,232 | 4,036,602 | ||||||||||||
Less: Cash and cash equivalents | 1,708,955 | 1,861,980 | ||||||||||||
Net Debt | $ | 2,571,277 | $ | 2,174,622 | ||||||||||
Adjusted EBITDA (LTM) | $ | 928,276 | $ | 685,146 | ||||||||||
Net leverage ratio | 2.8 | 3.2 |
For the three months ending March 31, 2022 | |||||||||||||||||||||||||||||||||||
($ in millions, except per share amounts) | Operating Income | Net Income | EPS | ||||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | ||||||||||||||||||||||||||||||
GAAP | $ | 131.5 | $ | 141.5 | $ | 70.3 | $ | 79.3 | $ | 0.43 | $ | 0.50 | |||||||||||||||||||||||
Restructuring related and other | 1.5 | 2.0 | 1.0 | 1.5 | 0.01 | 0.01 | |||||||||||||||||||||||||||||
Financing and other transaction costs | 4.0 | 4.5 | 4.0 | 4.5 | 0.03 | 0.03 | |||||||||||||||||||||||||||||
Step-up depreciation and amortization | 34.0 | 35.0 | 34.0 | 35.0 | 0.21 | 0.22 | |||||||||||||||||||||||||||||
Deferred (gain)/loss on derivative instruments(1) | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Amortization of debt issuance costs | — | — | 1.7 | 1.7 | 0.01 | 0.01 | |||||||||||||||||||||||||||||
Deferred taxes and other tax related | — | — | 1.0 | 2.0 | 0.01 | 0.01 | |||||||||||||||||||||||||||||
Non-GAAP | $ | 171.0 | $ | 183.0 | $ | 112.0 | $ | 124.0 | $ | 0.70 | $ | 0.78 | |||||||||||||||||||||||
Weighted-average diluted shares outstanding (in millions) | 158.6 | 158.6 |
For the full year ending December 31, 2022 | |||||||||||||||||||||||||||||||||||
($ in millions, except per share amounts) | Operating Income | Net Income | EPS | ||||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | ||||||||||||||||||||||||||||||
GAAP | $ | 695.0 | $ | 731.0 | $ | 437.5 | $ | 466.0 | $ | 2.77 | $ | 2.96 | |||||||||||||||||||||||
Restructuring related and other | 6.0 | 8.0 | 4.5 | 6.0 | 0.03 | 0.04 | |||||||||||||||||||||||||||||
Financing and other transaction costs | 11.0 | 13.0 | 11.0 | 13.0 | 0.07 | 0.08 | |||||||||||||||||||||||||||||
Step-up depreciation and amortization | 136.0 | 140.0 | 136.0 | 140.0 | 0.86 | 0.89 | |||||||||||||||||||||||||||||
Deferred (gain)/loss on derivative instruments(1) | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Amortization of debt issuance costs | — | — | 7.0 | 7.0 | 0.04 | 0.04 | |||||||||||||||||||||||||||||
Deferred taxes and other tax related | — | — | 4.0 | 8.0 | 0.03 | 0.05 | |||||||||||||||||||||||||||||
Non-GAAP | $ | 848.0 | $ | 892.0 | $ | 600.0 | $ | 640.0 | $ | 3.80 | $ | 4.06 | |||||||||||||||||||||||
Weighted-average diluted shares outstanding (in millions) | 157.8 | 157.8 |
# # # | ||||||||
Investors: | Media: | |||||||
Jacob Sayer | Alexia Taxiarchos | |||||||
(508) 236-1666 | (508) 236-1761 | |||||||
jsayer@sensata.com | ataxiarchos@sensata.com |
Cover |
Feb. 01, 2022 |
---|---|
Document Information [Line Items] | |
Document Type | 8-K |
Document Period End Date | Feb. 01, 2022 |
Entity Registrant Name | SENSATA TECHNOLOGIES HOLDING PLC |
Entity Central Index Key | 0001477294 |
Amendment Flag | false |
Entity Incorporation, State or Country Code | X0 |
Entity File Number | 001-34652 |
Entity Tax Identification Number | 98-1386780 |
Entity Address, Address Line One | 529 Pleasant Street |
Entity Address, City or Town | Attleboro |
Entity Address, State or Province | MA |
Entity Address, Postal Zip Code | 02703 |
Entity Address, Country | US |
City Area Code | +1(508) |
Local Phone Number | 236 3800 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Ordinary Shares - nominal value €0.01 per share |
Trading Symbol | ST |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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