Reportable Business Segments and International Operations (Tables)

12 Months Ended

Dec. 31, 2023

Reportable Business Segments and International Operations

Schedule of net sales, both external and intersegment, by segment

Net sales by segment for the years ended December 31, 2023, 2022 and 2021 are as follows:

	External						Intersegment
	2023		2022		2021		2023		2022		2021
Harsh Environment Solutions	$	3,530.8	$	3,107.2	$	2,752.2	$	90.8	$	78.1	$	70.6
Communications Solutions		4,912.8		5,652.4		4,832.1		50.2		79.4		75.0
Interconnect and Sensor Systems		4,111.1		3,863.4		3,292.0		18.2		17.2		23.7
Consolidated Net sales	$	12,554.7	$	12,623.0	$	10,876.3	$	159.2	$	174.7	$	169.3

Schedule of the reconciliation of segment operating income to consolidated income before income taxes

Segment operating income and the reconciliation of segment operating income to consolidated income from continuing operations before income taxes for the years ended December 31, 2023, 2022 and 2021 are as follows:

	2023		2022		2021
Segment operating income:
Harsh Environment Solutions	$	943.9	$	801.6	$	708.2
Communications Solutions		1,063.5		1,245.7		1,023.3
Interconnect and Sensor Systems		753.7		716.5		588.1
Total segment operating income		2,761.1		2,763.8		2,319.6
Corporate / Other:
Stock-based compensation expense		(99.0)		(89.5)		(83.0)
Acquisition-related expenses		(34.6)		(21.5)		(70.4)
Other operating expenses		(67.9)		(67.0)		(61.1)
Interest expense		(139.5)		(128.4)		(115.5)
Gain on bargain purchase acquisition		5.4		—		—
Other income (expense), net		29.3		10.0		(0.4)
Income from continuing operations before income taxes	$	2,454.8	$	2,467.4	$	1,989.2

Schedule of depreciation and amortization expense

Depreciation and amortization expense by segment for the years ended December 31, 2023, 2022 and 2021 is as follows:

	2023		2022		2021
Harsh Environment Solutions	$	91.0	$	78.2	$	73.2
Communications Solutions		177.0		183.7		179.2
Interconnect and Sensor Systems		131.1		124.5		136.1
Corporate / Other		7.3		6.5		7.1
Total	$	406.4	$	392.9	$	395.6

Schedule of revenues and long-lived assets by geographical area

Net sales by geographic area for the years ended December 31, 2023, 2022 and 2021 and long-lived assets by geographic area as of December 31 were as follows:

	2023		2022		2021
Net sales
United States	$	4,405.4	$	4,155.2	$	3,155.9
China		2,884.0		3,265.0		3,044.4
Other foreign locations		5,265.3		5,202.8		4,676.0
Total	$	12,554.7	$	12,623.0	$	10,876.3
Long-lived assets(1)
United States	$	442.6	$	386.1	$	362.1
China		455.5		470.1		451.7
Other foreign locations		718.1		637.6		606.4
Total	$	1,616.2	$	1,493.8	$	1,420.2

(1)

Long-lived assets included in this table are comprised of property, plant and equipment, net, and operating lease right-of-use assets for all years presented.

Schedule of disaggregation of net sales

The following tables show our net sales disaggregated into categories the Company considers meaningful to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors for the years ended December 31, 2023, 2022 and 2021:

Net sales by sales channel:	2023		2022		2021
End customers and contract manufacturers:
Harsh Environment Solutions	$	2,581.6	$	2,176.4	$	1,980.7
Communications Solutions		3,933.2		4,469.0		3,889.0
Interconnect and Sensor Systems		3,947.4		3,724.6		3,168.5
	$	10,462.2	$	10,370.0	$	9,038.2
Distributors and resellers:
Harsh Environment Solutions	$	949.2	$	930.8	$	771.5
Communications Solutions		979.6		1,183.4		943.1
Interconnect and Sensor Systems		163.7		138.8		123.5
	$	2,092.5	$	2,253.0	$	1,838.1
Total Net sales	$	12,554.7	$	12,623.0	$	10,876.3

Net sales by geography:	2023		2022		2021
United States:
Harsh Environment Solutions	$	1,790.5	$	1,558.2	$	1,352.2
Communications Solutions		1,395.8		1,495.3		958.2
Interconnect and Sensor Systems		1,219.1		1,101.7		845.5
	$	4,405.4	$	4,155.2	$	3,155.9
China:
Harsh Environment Solutions	$	351.2	$	437.5	$	437.1
Communications Solutions		1,669.4		1,939.6		1,914.6
Interconnect and Sensor Systems		863.4		887.9		692.7
	$	2,884.0	$	3,265.0	$	3,044.4
Other foreign locations:
Harsh Environment Solutions	$	1,389.1	$	1,111.5	$	962.9
Communications Solutions		1,847.6		2,217.5		1,959.3
Interconnect and Sensor Systems		2,028.6		1,873.8		1,753.8
	$	5,265.3	$	5,202.8	$	4,676.0
Total Net sales	$	12,554.7	$	12,623.0	$	10,876.3