8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20579

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: October 26, 2021

(Date of earliest event reported)

LITTELFUSE, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-20388	36-3795742
(State of other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

8755 W. Higgins Road, Suite 500, Chicago, IL 60631

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (773) 628-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ 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))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of exchange on which registered
Common Stock, par value $0.01 per share	LFUS	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

The information contained within Item 2.02 of this Form 8-K and the Exhibits attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On October 26, 2021, Littelfuse, Inc. (the “Company”) issued a press release announcing the results of its operations for the quarter ended September 25, 2021. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and incorporated by reference to this Item 2.02 as if fully set forth herein. A copy of the press release will also be available on the Company’s website.

Item 7.01 Regulation FD Disclosure

To supplement the information in the attached press release, the Company has also prepared a presentation, which will be available on the Company’s website at https://investor.littelfuse.com/events-and-presentations and is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in the press release and investor presentation attached to this Form 8-K includes forward-looking statements that are intended to be covered by the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to comments with respect to the objectives and strategies, financial condition, results of operations and business of the Company. These forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not be achieved. The Company cautions you not to place undue reliance on these forward-looking statements as a number of important factors could cause actual future results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements.

Item 9.01 Financial Statements and Exhibits.

(d)	Exhibits
	The following exhibit is furnished with this Form 8-K:
	99.1 Press Release, dated October 26, 2021
	99.2 Littelfuse Presentation dated October 26, 2021

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Littelfuse, Inc.
Date: October 26, 2021	By: /s/ Meenal A. Sethna
	Meenal A. Sethna Executive Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release, dated October 26, 2021
99.2	Littelfuse Presentation dated October 26, 2021
101	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104	The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.

EX-99.1

Exhibit 99.1

NEWS RELEASE	Littelfuse Inc. 8755 West Higgins Road, Suite 500 Chicago, Illinois 60631 p: (773) 628-1000 f: (773) 628-0802 www.littelfuse.com

LITTELFUSE REPORTS THIRD QUARTER RESULTS FOR 2021

Record sales and earnings driven by strong business fundamentals

CHICAGO, October 26, 2021 - Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the third quarter ended September 25, 2021:

•Net sales of $539.6 million primarily driven by stronger than expected demand across the electronics segment

•GAAP operating margin was 22.3%; adjusted operating margin was 22.8%

•GAAP diluted EPS of $3.69 and adjusted diluted EPS of $3.95

•Cash flow from operations was $114.3 million and free cash flow was $89.4 million

•On October 20, the company announced it has entered into a definitive agreement to acquire Carling Technologies, Inc., a global leader in switching, circuit protection, and power distribution technologies with a strong presence in commercial vehicle and telecom infrastructure markets; the company has annualized sales of approximately $170 million

“Our ability to effectively execute within this challenging environment enabled us to deliver a quarter of outstanding performance,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Across our global footprint, our highly skilled teams are continuously improving our operations to meet customer demand, and our results reflect their commitment and hard work. We also made further progress on our growth strategy and are excited to welcome Carling Technologies employees to the Littelfuse team. As we near the end of a challenging 2021, we are poised to achieve significant sales and earnings growth this year, and remain well-positioned to deliver ongoing superior value for our stakeholders.”

Fourth Quarter of 2021*

For the fourth quarter, the company expects net sales in the range of $503 to $517 million and adjusted diluted EPS in the range of $2.80 to $2.96.

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*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.

Dividend

•The company will pay a cash dividend on its common stock of $0.53 per share on December 2, 2021 to shareholders of record as of November 18, 2021

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, October 27, 2021, at 9:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation is available in the Investor Relations section of the company’s website at Littelfuse.com.

About Littelfuse

Littelfuse (NASDAQ: LFUS) is an industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 15 countries, and with 12,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at Littelfuse.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. These statements may involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse, Inc.'s ("Littelfuse" or the "Company") accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings.Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 26, 2020.

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Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 26, 2020, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

Non-GAAP Financial Measures

The information included in this press release includes the non-GAAP financial measures of organic net sales growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, adjusted effective tax rate, free cash flow, consolidated total gross debt, consolidated EBITDA (as defined in the private placement senior notes), and ratio of consolidated total gross debt to consolidated EBITDA. Many of these non-GAAP financial measures exclude the effect of certain expenses and income not related directly to the underlying performance of our fundamental business operations.

A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth in the attached schedules.

The company believes that organic net sales growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, and adjusted effective tax rate provide useful information to investors regarding its operational performance because they enhance an investor’s overall understanding of our core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of our fundamental business operations or were not part of our business operations during a comparable period. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that consolidated total gross debt, consolidated EBITDA, and ratio of consolidated total gross debt to consolidated EBITDA are useful measures of its credit position. The company believes that all of these non-GAAP financial measures are commonly used by financial analysts and others in the industries in which we operate, and thus further provide useful information to investors. Management additionally uses these measures when assessing the performance of the business and for business planning purposes. Note that our definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

CONTACT: Trisha Tuntland

Head of Investor Relations

(773) 628-2163

LFUS-F

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

	(Unaudited)
(in thousands)	September 25, 2021		December 26, 2020
ASSETS
Current assets:
Cash and cash equivalents	$	690,682	$	687,525
Short-term investments	28		54
Trade receivables, less allowances of $53,006 and $45,237 at September 25, 2021 and December 26, 2020, respectively	325,739		232,760
Inventories	357,024		258,002
Prepaid income taxes and income taxes receivable	2,695		3,029
Prepaid expenses and other current assets	59,768		35,939
Total current assets	1,435,936		1,217,309
Net property, plant, and equipment	364,329		344,178
Intangible assets, net of amortization	295,766		291,887
Goodwill	847,205		816,812
Investments	39,885		30,547
Deferred income taxes	9,575		11,224
Right of use lease assets, net	24,375		17,615
Other assets	21,447		18,021
Total assets	$	3,038,518	$	2,747,593
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	221,889	$	145,984
Accrued liabilities	139,670		110,478
Accrued income taxes	32,462		19,186
Current portion of long-term debt	27,619		—
Total current liabilities	421,640		275,648
Long-term debt, less current portion	620,112		687,034
Deferred income taxes	50,365		50,134
Accrued post-retirement benefits	42,026		45,802
Non-current operating lease liabilities	17,440		12,950
Other long-term liabilities	65,537		67,252
Total equity	1,821,398		1,608,773
Total liabilities and equity	$	3,038,518	$	2,747,593

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LITTELFUSE, INC.

CONDENSEDCONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)

	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	September 25, 2021		September 26, 2020		September 25, 2021		September 26, 2020
Net sales	$	539,581	$	391,566	$	1,526,863	$	1,044,999
Cost of sales	325,009		252,735		954,429		681,910
Gross profit	214,572		138,831		572,434		363,089
Selling, general, and administrative expenses	67,468		49,929		199,071		154,328
Research and development expenses	15,779		12,963		46,912		40,587
Amortization of intangibles	10,446		10,104		31,608		29,912
Restructuring, impairment, and other charges	772		1,277		1,998		40,904
Total operating expenses	94,465		74,273		279,589		265,731
Operating income	120,107		64,558		292,845		97,358
Interest expense	4,602		4,988		13,901		16,261
Foreign exchange loss (gain)	3,154		(6,174)		8,315		(9,600)
Other income, net	(1,240)		(1,682)		(10,867)		(1,643)
Income before income taxes	113,591		67,426		281,496		92,340
Income taxes	21,537		12,070		49,634		21,331
Net income	$	92,054	$	55,356	$	231,862	$	71,009
Earnings per share:
Basic	$	3.74	$	2.27	$	9.43	$	2.92
Diluted	$	3.69	$	2.25	$	9.31	$	2.89
Weighted-average shares and equivalent shares outstanding:
Basic	24,622		24,357		24,582		24,354
Diluted	24,926		24,573		24,904		24,535
Comprehensive income	$	87,100	$	72,337	$	227,491	$	70,594

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LITTELFUSE, INC.

CONDENSEDCONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Months Ended
(in thousands)	September 25, 2021		September 26, 2020
OPERATING ACTIVITIES
Net income	$	231,862	$	71,009
Adjustments to reconcile net income to net cash provided by operating activities:	96,824		113,867
Changes in operating assets and liabilities:
Trade receivables	(83,793)		(29,362)
Inventories	(71,232)		(1,611)
Accounts payable	53,945		6,661
Accrued liabilities and income taxes	23,294		(2,095)
Prepaid expenses and other assets	(10,236)		5,787
Net cash provided by operating activities	240,664		164,256
INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired	(110,646)		—
Purchases of property, plant, and equipment	(57,526)		(41,536)
Net proceeds from sale of property, plant, and equipment, and other	2,561		148
Net cash used in investing activities	(165,611)		(41,388)
FINANCING ACTIVITIES
Net (payments) proceeds from credit facility	(30,000)		35,000
Purchases of common stock	—		(22,927)
Cash dividends paid	(36,648)		(35,100)
All other cash provided by financing activities	5,771		4,651
Net cash used in financing activities	(60,877)		(18,376)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(5,832)		6,259
Increase in cash, cash equivalents, and restricted cash	8,344		110,751
Cash, cash equivalents, and restricted cash at beginning of period	687,525		531,139
Cash, cash equivalents, and restricted cash at end of period	$	695,869	$	641,890

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LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)

	Third Quarter								Year-to-Date
(in thousands)	2021			2020			% Growth /(Decline)		2021			2020			% Growth /(Decline)
Net sales
Electronics	$	347,240		$	255,349		36.0	%	$	959,122		$	692,809		38.4	%
Automotive	124,415			104,724			18.8	%	386,262			271,493			42.3	%
Industrial	67,926			31,493			115.7	%	181,479			80,697			124.9	%
Total net sales	$	539,581		$	391,566		37.8	%	$	1,526,863		$	1,044,999		46.1	%
Operating income
Electronics	$	100,524		$	45,860		119.2	%	$	230,283		$	110,783		107.9	%
Automotive	15,806			15,383			2.7	%	55,380			20,642			168.3	%
Industrial	6,571			4,898			34.2	%	18,452			8,409			119.4	%
Other(a)	(2,794)			(1,583)			N.M.		(11,270)			(42,476)			N.M.
Total operating income	$	120,107		$	64,558		86.0	%	$	292,845		$	97,358		200.8	%
Operating Margin	22.3		%	16.5		%			19.2		%	9.3		%
Interest expense	4,602			4,988					13,901			16,261
Foreign exchange loss (gain)	3,154			(6,174)					8,315			(9,600)
Other income, net	(1,240)			(1,682)					(10,867)			(1,643)
Income before income taxes	$	113,591		$	67,426		68.5	%	$	281,496		$	92,340		204.8	%

(a) "other" typically includes non-GAAP adjustments such as acquisition-related and integration costs, purchase accounting inventory adjustments and restructuring and impairment charges. (See Supplemental Financial Information for details.)

N.M. - Not meaningful

	Third Quarter						Year-to-Date
(in thousands)	2021		2020		% Growth /(Decline)		2021		2020		% Growth /(Decline)
Operating Margin
Electronics	28.9	%	18.0	%	10.9	%	24.0	%	16.0	%	8.0	%
Automotive	12.7	%	14.7	%	(2.0)	%	14.3	%	7.6	%	6.7	%
Industrial	9.7	%	15.6	%	(5.9)	%	10.2	%	10.4	%	(0.2)	%

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LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(In millions of USD except per share amounts - unaudited)

Non-GAAP EPS reconciliation
	Q3-21		Q3-20		YTD-21		YTD-20
GAAP diluted EPS	$	3.69	$	2.25	$	9.31	$	2.89
EPS impact of Non-GAAP adjustments (below)	0.26		(0.09)		0.73		1.27
Adjusted diluted EPS	$	3.95	$	2.16	$	10.04	$	4.16

Non-GAAP adjustments - (income) / expense
	Q3-21		Q3-20		YTD-21		YTD-20
Acquisition-related and integration costs (a)	$	2.0	$	0.3	$	3.4	$	1.6
Purchase accounting inventory adjustments (b)	—		—		6.8
Restructuring, impairment and other charges (c)	0.8		1.3		2.0		40.9
Gain on sale of fixed assets (d)	—		—		(0.9)		—
Non-GAAP adjustments to operating income	2.8		1.6		11.3		42.5
Other expense, net (e)	0.1		0.1		0.6		2.1
Non-operating foreign exchange loss (gain)	3.2		(6.2)		8.3		(9.6)
Non-GAAP adjustments to income before income taxes	6.1		(4.5)		20.2		35.0
Income taxes (f)	(0.4)		(2.2)		2.1		3.9
Non-GAAP adjustments to net income	$	6.5	$	(2.3)	$	18.1	$	31.1
Total EPS impact	$	0.26	$	(0.09)	$	0.73	$	1.27

Adjusted operating margin / Adjusted EBITDA reconciliation
	Q3-21			Q3-20			YTD-21			YTD-20
Net sales	$	539.6		$	391.6		$	1,526.9		$	1,045.0
GAAP operating income	120.1			$	64.6		292.8			$	97.4
Add back non-GAAP adjustments	2.8			1.6			11.3			42.5
Adjusted operating income	$	122.9		$	66.2		$	304.1		$	139.9
Adjusted operating margin	22.8		%	16.9		%	19.9		%	13.4		%
Add back amortization	10.4			10.1			31.6			29.9
Add back depreciation	14.2			14.2			41.4			42.0
Adjusted EBITDA	$	147.5		$	90.5		$	377.1		$	211.8
Adjusted EBITDA margin	27.3		%	23.1		%	24.7		%	20.3		%

Net sales reconciliation	Q3-21 vs. Q3-20
	Electronics		Automotive		Industrial		Total
Net sales growth	36	%	19	%	116	%	38	%
Less:
Acquisitions	—		—		93	%	8	%
Transfer a product line between segments	—	%	—	%	—	%	—	%
FX impact	1	%	2	%	1	%	1	%
Organic net sales growth	35	%	17	%	22	%	29	%

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Net sales reconciliation	YTD-21 vs. YTD-20
	Electronics		Automotive		Industrial		Total
Net sales growth	38	%	42	%	125	%	46	%
Less:
Acquisitions	—		—		90	%	7	%
Transfer a product line between segments	(1)	%	—	%	6	%	—	%
FX impact	2	%	5	%	1	%	3	%
Organic net sales growth	37	%	37	%	28	%	36	%

Income tax reconciliation
	Q3-21			Q3-20			YTD-21			YTD-20
Income taxes	$	21.5		$	12.1		$	49.6		$	21.3
Effective rate	19.0		%	17.9		%	17.6		%	23.1		%
Non-GAAP adjustments - income taxes	(0.4)			(2.2)			2.1			3.9
Adjusted income taxes	$	21.1		$	9.9		$	51.7		$	25.2
Adjusted effective rate	17.6		%	15.7		%	17.1		%	19.8		%
Free cash flow reconciliation
	Q3-21			Q3-20			YTD-21			YTD-20
Net cash provided by operating activities	$	114.3		$	63.0		$	240.7		$	164.3
Less: Purchases of property, plant and equipment	(24.9)			(12.1)			(57.5)			(41.6)
Free cash flow	$	89.4		$	50.9		$	183.2		$	122.7

Consolidated Total Debt	As of September 25, 2021
Consolidated total gross debt	$	651.1
Unamortized debt issuance costs	(3.4)
Consolidated Total Debt	$	647.7
Consolidated EBITDA (as defined in the Private Placement Senior Notes) (1)	Twelve Months Ended September 25, 2021
Net Income	$	290.9
Interest expense	18.7
Income taxes	59.6
Depreciation	55.6
Amortization	41.7
Non-cash additions (reductions):
Stock-based compensation expense	19.6
Purchase accounting inventory step-up charge	6.8
Unrealized gain on investments	(13.2)
Impairment charges	—
Other	3.4
Consolidated EBITDA (as defined in the Private Placement Senior Notes) (1)	$	483.1
Ratio of Consolidated total gross debt to Consolidated EBITDA (as defined in Private Placement Senior Notes)*	1.3x

* Our Private Placement Senior Notes, with maturities ranging from 2022 to 2030, contain a financial ratio covenant providing that if, as of the last day of each fiscal quarter, the ratio of Consolidated total gross debt at such time to Consolidated EBITDA for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Private Placement Senior Notes) is triggered.

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(1) Represents Consolidated EBITDA as defined in our Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters.

Note: Total will not always foot due to rounding.

(a) reflected in selling, general and administrative expenses ("SG&A").

(b) reflected in cost of sales.

(c) For the fiscal year ended December 26, 2020, the Company presented restructuring, impairment and other charges as a separate caption in the Consolidated Statements of Net Income. Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.

(d) reflected in SG&A, a year-to-date gain of $0.9 million from the sale of a building within the Electronics segment during 2021.

(e) Q3 2021 included a $0.1 million charge for an asset retirement obligation related to the disposal of a business in 2019. 2021 year-to-date amount included $0.5 million of impairment charges on certain other investments. Q3 2020 amount included $0.1 million of impairment charges on certain other investments. 2020 year-to date amount included $1.8 million increase in coal mining reserves and $0.2 million charge for an asset retirement obligation related to the disposal of a business in 2019.

(f) reflected the tax impact associated with the non-GAAP adjustments.

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EX-99.2

1 Q3 2021 EARNINGS RELEASE October 26, 2021

2Littelfuse, Inc. © 2021 DISCLAIMERS Important Information About Interfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Interfuse, Inc. and no investment decision should be made based upon the information provided herein. Interfuse strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at investor.littelfuse.com/sec.cfm. This website also provides additional information about Interfuse. “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995. The statements in this presentation that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. These statements may involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID- 19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Interfuse, Inc.'s ("Interfuse" or the "Company") accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This presentation should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 26, 2020. Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 26, 2020, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information. Non-GAAP Financial Measures. The information included in this presentation includes the non-GAAP financial measures of organic net sales growth, adjusted operating margin, adjusted diluted earnings per share, adjusted effective tax rate, and free cash flow. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the appendix. The company believes that these non-GAAP financial measures provide useful information to investors regarding its operational performance and ability to generate cash enhancing an investor’s overall understanding of its core financial performance. The company believes that these non-GAAP financial measures are commonly used by financial analysts and provide useful information to analysts. Management uses these measures when assessing the performance of the business and for business planning purposes. Note that the definitions of these non- GAAP financial measures may differ from those terms as defined or used by other companies.

BUSINESS UPDATE Dave Heinzmann, President & CEO

4Littelfuse, Inc. © 2021 Q3-21 KEY THEMES  Record revenue & earnings for the quarter  Outstanding performance within challenging supply chain environment  Ongoing, effective operational execution  Continuous improvements to support customers  Reflects global teams' commitment & hard work  Broad-based strength across electronics segment end- markets, tempered by supply constraints in passenger car markets

5Littelfuse, Inc. © 2021 ANNOUNCEMENT TO ACQUIRE CARLING TECHNOLOGIES Switches Power Distribution Units Circuit Breakers Consistent with strategic M&A priorities

6Littelfuse, Inc. © 2021 INDUSTRIAL END MARKETS POSITIONED FOR CONTINUED GROWTH  Alternative energy, smart industry & safety continues to expand opportunities  Strength across core markets  Leveraging Hartland Controls product portfolio to capture design wins  New business across Asia, Europe & North America Q3-21 Highlights Q3-21 Key Design Wins  HVAC (Industrial Refrigeration)  Renewable Energy & Energy Storage  Industrial Safety

7Littelfuse, Inc. © 2021 TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q3-21 Key Design WinsQ3-21 Highlights  Sustainability & safety increasing product content opportunities  Electric vehicle ramp driving robust design activity & several strategic gains  Content outgrowth with wide range of passenger car wins  Captured commercial vehicle business across China, Europe & North America  xEV & EV Charging Applications  EV Bus  High-Current modules for passenger vehicles  Automotive Electronics

8Littelfuse, Inc. © 2021 ELECTRONICS END MARKETS LEVERAGING OUR LEADERSHIP Q3-21 Highlights Q3-21 Key Design Wins  Ongoing trend towards a more connected & electrified world expands new business pipeline  Rapid technical support driving design wins  Speed of service is differentiator, especially in current landscape  Increasing presence across a wide spectrum of applications... from renewables to factory & building automation to manufacturing tools  Data Center  Appliances & Building Solutions  Lawn & Garden Tools  Manufacturing Tools

FINANCIAL UPDATE Meenal Sethna, EVP & CFO

10Littelfuse, Inc. © 2021 See appendix for GAAP to non-GAAP reconciliation Highlights  Revenue +38% vs. prior year, +3% sequentially  +29% organic vs. prior year  GAAP operating margin 22.3%; adjusted operating margin 22.8%, +330 bps sequential  Strength in sales / margins led by Electronics segment  Adjusted EPS +83% vs prior year, +16% sequentially  Effective tax rate: GAAP 19.0%; adjusted 17.6%  Free cash flow $89m; $183m YTD  79% conversion YTD GAAP EPS $2.25 $3.30 $3.69 Adj. EPS $2.16 $3.41 $3.95 $392 $523 $540 Q3-20 Q2-21 Q3-21 (in millions) Q3-21 FINANCIAL PERFORMANCE Revenue & EPS

11Littelfuse, Inc. © 2021 $31 $65 $68 Q3-20 Q2-21 Q3-21 Revenue $105 $133 $124 Q3-20 Q2-21 Q3-21 Revenue Q3-21 SEGMENT PERFORMANCE Electronics Segment Automotive Segment Industrial Segment  Revenue +36%, +7% sequential  Sales stronger than expected, working through backlog and content growth (in millions) Op Margin 18.0% 22.8% 28.9% $255 $325 $347 Q3-20 Q2-21 Q3-21 Revenue  Revenue +19%, (-7%) sequential; Versus prior year: comm. vehicle +38%, pass. vehicle +13%  Chip shortages impacting passenger car build / customer production  Segment affected most by higher commodity prices  Revenue +116%, +5% sequential  Continued strength across HVAC, renewables, energy storage  Segment margins impacted by supply disruptions and lower Hartland (acquisition) margins Op Margin 14.7% 14.4% 12.7% Op Margin 15.6% 12.9% 9.7%  Record operating margins from favorable geographic/product mix, record volumes & price realization See appendix for GAAP to non-GAAP reconciliation

12Littelfuse, Inc. © 2021 Q4-21 GUIDANCE Highlights  Key assumptions  Incorporates currently known manufacturing/supply chain impacts  No new material COVID disruptions  Revenue +27% vs. prior year, (-5)% sequentially at midpoint  Closer to typical seasonality  Adjusted EPS +29% vs. prior year, (-27)% sequentially at midpoint  Reduced volumes and more typical product/ geographical mix across Electronics segment  Q4 guidance includes ‘14th week’  During holidays; lower than typical sales and profitability  Excludes any impact from Carling Technologies; expect immaterial impact in Q4 results $401 $540 $503 - $517 Q4-20 Q3-21 Q4-21 Revenue & EPS (in millions) See appendix for GAAP to non-GAAP reconciliation GAAP EPS $2.39 $3.69 * Adj. EPS $2.23 $3.95 $2.80 - $2.96 *Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.

13Littelfuse, Inc. © 2021  Highlights commitment to environmental, social, and governance (ESG) initiatives  Focused on creating a solid foundation for sustainability program to ensure future success  Communicates progress towards goals on sustainability journey  To learn more, read the 2020 Sustainability Report and visit new Sustainability pages on corporate website 2020 SUSTAINABILITY REPORT

14Littelfuse, Inc. © 2021  Year-to-date, exceptional performance within ongoing challenging environment  Continue to closely monitor supply chain challenges across suppliers & customers  Proven sound business fundamentals  Poised to achieve significant sales and earnings growth this year  Remain well-positioned to deliver ongoing superior value for all stakeholders KEY TAKEAWAYS

15Littelfuse, Inc. © 2021 Q&A

16Littelfuse, Inc. © 2021 APPENDIX

17Littelfuse, Inc. © 2021 SUPPLEMENTAL FINANCIAL INFORMATION

18Littelfuse, Inc. © 2021 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D

19Littelfuse, Inc. © 2021 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D

20Littelfuse, Inc. © 2021 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D

XML

Document and Entity Information	Oct. 26, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 26, 2021
Entity Registrant Name	LITTELFUSE INC /DE
Entity Central Index Key	0000889331
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity File Number	0-20388
Entity Tax Identification Number	36-3795742
Entity Address, Address Line One	8755 W. Higgins Road
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60631
City Area Code	773
Local Phone Number	628-1000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	LFUS
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false