What changed in this filing

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Item 1. Financial Statements

2026-07-29 compared with 2026-04-28 · 204 added, 123 removed, 457 unchanged (42% of the section changed)

6 unchanged sentences

Cash and cash equivalents $ 403.3 $ 573.0

Accounts receivable, net of allowances of $ 16.9 and $ 16.2 as of March 31, 2026 and December 31, 2025, respectively

Accounts receivable, net of allowances of $ 13.5 and $ 16.2 as of June 30, 2026 and December 31, 2025, respectively

Inventories 579.1 617.8

3 unchanged sentences

Goodwill 3,158.3 3,158.2

Other intangible assets, net of accumulated amortization of $ 2,604.4 and $ 2,588.7 as of March 31, 2026 and December 31, 2025, respectively

Other intangible assets, net of accumulated amortization of $ 2,620.3 and $ 2,588.7 as of June 30, 2026 and December 31, 2025, respectively

Deferred income tax assets 265.5 277.2

16 unchanged sentences

Shareholders’ equity:

Ordinary shares, € 0.01 nominal value per share, 177.0 shares issued as of March 31, 2026 and December 31, 2025

Treasury shares, at cost, 31.9 and 31.2 shares as of March 31, 2026 and December 31, 2025, respectively

Ordinary shares, € 0.01 nominal value per share, 177.5 and 177.0 shares issued as of June 30, 2026 and December 31, 2025, respectively

Treasury shares, at cost, 31.9 and 31.2 shares as of June 30, 2026 and December 31, 2025, respectively

( 1,427.8 ) ( 1,402.7 )

8 unchanged sentences

(In millions, except per share amounts)

For the three months ended

March 31, 2026 March 31, 2025

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6

19 unchanged sentences

(In millions)

For the three months ended

March 31, 2026 March 31, 2025

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Net income $ 102.1 $ 60.7 $ 189.2 $ 130.6

Other comprehensive income/(loss), net of tax:

Other comprehensive income, net of tax:

Cash flow hedges 8.4 ( 2.3 ) 19.8 ( 6.8 )

1 unchanged sentence

Currency translation adjustment

Other comprehensive income/(loss) 20.5 ( 0.1 )

8.7 9.8 17.8 13.7

Other comprehensive income 17.1 7.5 37.6 7.4

Comprehensive income $ 119.3 $ 68.2 $ 226.8 $ 138.0

3 unchanged sentences

(In millions)

For the three months ended

March 31, 2026 March 31, 2025

For the six months ended

June 30, 2026 June 30, 2025

Cash flows from operating activities:

5 unchanged sentences

Share-based compensation 14.0 11.4

Gain on extinguishment of debt ( 4.4 ) —

Amortization of intangible assets 31.5 41.8

Deferred income taxes 21.7 17.3

Loss on equity investments, net

Gain on equity investments, net ( 0.2 ) —

Other non-cash loss, net 0.6 15.8

Changes in operating assets and liabilities, net of the effects of divestitures:

Changes in operating assets and liabilities, net of effects of divestitures:

Accounts receivable, net ( 77.2 ) ( 96.1 )

16 unchanged sentences

Payments of debt financing costs ( 1.2 ) —

Proceeds from exercise of stock options 1.4 —

Net cash used in financing activities ( 468.5 ) ( 160.8 )

6 unchanged sentences

Condensed Consolidated Statements of Changes in Shareholders' Equity

Three Months Ended June 30, 2026 and 2025

(In millions)

1 unchanged sentence

Number Amount Number Amount

Balance as of March 31, 2026

177.0 $ 2.3 ( 31.9 ) $ ( 1,427.8 ) $ 1,904.4 $ 2,363.7 $ 13.0 $ 2,855.5

Surrender of shares for tax withholding — — ( 0.2 ) ( 6.0 ) — — — ( 6.0 )

Stock options exercised 0.0 0.0 — — 1.4 — — 1.4

Vesting of restricted securities 0.6 0.0 — — — (0.0) — —

Cash dividends paid — — — — — ( 17.5 ) — ( 17.5 )

Retirement of ordinary shares ( 0.2 ) (0.0) 0.2 6.0 — ( 6.0 ) — —

Share-based compensation — — — — 7.2 — — 7.2

Net income — — — — — 102.1 — 102.1

Other comprehensive income — — — — — — 17.1 17.1

Balance as of June 30, 2026

177.5 $ 2.3 ( 31.9 ) $ ( 1,427.8 ) $ 1,913.0 $ 2,442.3 $ 30.2 $ 2,960.0

Balance as of March 31, 2025

176.5 $ 2.3 ( 30.5 ) $ ( 1,382.6 ) $ 1,879.4 $ 2,392.2 $ ( 42.7 ) $ 2,848.6

Surrender of shares for tax withholding — — ( 0.1 ) ( 3.5 ) — — — ( 3.5 )

Vesting of restricted securities 0.5 0.0 — — — (0.0) — —

Cash dividends paid — — — — — ( 17.6 ) — ( 17.6 )

Repurchase of ordinary shares — — ( 0.7 ) ( 20.1 ) — — — ( 20.1 )

Retirement of ordinary shares ( 0.1 ) 0.0 0.1 3.5 — ( 3.4 ) — —

Share-based compensation — — — — 4.5 — — 4.5

Net income — — — — — 60.7 — 60.7

Other comprehensive income — — — — — — 7.5 7.5

Balance as of June 30, 2025

176.9 $ 2.3 ( 31.2 ) $ ( 1,402.7 ) $ 1,883.9 $ 2,431.8 $ ( 35.2 ) $ 2,880.2

The accompanying notes are an integral part of these condensed consolidated financial statements.

SENSATA TECHNOLOGIES HOLDING PLC

Condensed Consolidated Statements of Changes in Shareholders' Equity

Six Months Ended June 30, 2026 and 2025

(In millions)

Ordinary Shares Treasury Shares Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive (Loss)/ Income Total Shareholders' Equity

Number Amount Number Amount

Balance as of December 31, 2025

1 unchanged sentence

Surrender of shares for tax withholding — — ( 0.2 ) ( 7.6 ) — — — ( 7.6 )

Stock options exercised 0.0 0.0 — — 1.4 — — 1.4

Vesting of restricted securities 0.7 0.0 — — — (0.0) — —

5 unchanged sentences

Other comprehensive income — — — — — — 37.6 37.6

Balance as of March 31, 2026

Balance as of June 30, 2026

177.5 $ 2.3 ( 31.9 ) $ ( 1,427.8 ) $ 1,913.0 $ 2,442.3 $ 30.2 $ 2,960.0

8 unchanged sentences

Net income — — — — — 130.6 — 130.6

Other comprehensive loss — — — — — — ( 0.1 ) ( 0.1 )

Balance as of March 31, 2025

Other comprehensive income — — — — — — 7.4 7.4

Balance as of June 30, 2025

176.9 $ 2.3 ( 31.2 ) $ ( 1,402.7 ) $ 1,883.9 $ 2,431.8 $ ( 35.2 ) $ 2,880.2

10 unchanged sentences

Securities and Exchange Commission (the "SEC") on February 27, 2026 (the "2025 Annual Report").

In the three months ended December 31, 2025, we realigned our business as a result of organizational changes that better allocate our resources to support changes to our business strategy.

During the fourth quarter of 2025, we realigned our business as a result of organizational changes that better allocate our resources to support changes to our business strategy.

These changes resulted in the dissolution of our prior segments, Performance Sensing and Sensing Solutions, and the creation of three new segments.

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Our new operating structure allows us to more effectively allocate capital and investment dollars based on different end market and growth dynamics in each of these segments.

Prior period amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment and to conform to current year presentation.

During the period, we moved our ASICs products from the Industrials reportable segment to the Automotive reportable segment and our motors products from our Industrials reportable segment to the Aerospace, Defense, and Commercial Equipment reportable segment to align with new management reporting.

Prior period amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment and the movement of products described above and to conform to current year presentation.

Refer to Note 15:

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Hedge Accounting Improvements.

This guidance amends existing guidance to simplify the application of hedge accounting, enhance alignment between risk management activities and financial reporting, and provide additional flexibility in the designation and measurement of certain hedging relationships.

The amendments included in the five matters addressed in this ASU are intended to better reflect those strategies in financial reporting by enabling entities to achieve and maintain hedge accounting for highly effective economic

hedges of forecasted transactions.

hedging relationships.

The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim periods within those annual reporting periods, with early adoption permitted.

1 unchanged sentence

2025-09 will have on its consolidated financial statements and disclosures.

In May 2026, the FASB issued ASU No.

2026-02 Environmental Credits and Environmental Credit Obligations (Topic 818) .

This update provides recognition, measurement, presentation and disclosure requirements for environmental credits and related environmental credit obligations for entities that generate, purchase or receive environmental credits or have a regulatory compliance obligation that may be settled with environmental credits.

This update is effective for annual periods beginning after December 15, 2027, including interim periods within those fiscal years.

The Company is currently evaluating the impact that the adoption of ASU No.

2026-02 will have on its consolidated financial statements and disclosures.

Revenue Recognition

7 unchanged sentences

Share-Based Payment Plans

The following table presents the components of non-cash compensation expense related to our equity awards for the three months ended March 31, 2026 and 2025:

For the three months ended

March 31, 2026 March 31, 2025

The following table presents the components of non-cash compensation expense related to our equity awards for the three and six months ended June 30, 2026 and 2025:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Restricted securities

$ 7.2 $ 4.5 $ 14.0 $ 11.4

Share-based compensation expense $ 7.2 $ 4.5 $ 14.0 $ 11.4

Equity Awards

During the second quarter of 2026, the Company's board of directors adopted an amendment to the 2021 Equity Incentive Plan to increase the number of shares that may be awarded by 2,890,000 shares, bringing the total to 8,590,000 shares.

We granted the following restricted stock units ("RSUs" and each, an "RSU") and performance-based restricted stock units ("PRSUs" and each, a "PRSU") under the Sensata Technologies Holding plc 2021 Equity Incentive Plan during the six months ended June 30, 2026:

Awards Granted To:

Type of Award Number of Units Granted (in thousands) Weighted Average Grant Date Fair Value

Directors RSU (1)

Various executives and employees RSU (2)

Various executives and employees PRSU (3)

Various executives and employees PRSU (4)

____________________________________

(1) These RSUs cliff vest one year from the grant date (in June 2027).

(2) These RSUs vest ratably over three years , one-third per year beginning on the first anniversary of the grant date.

These RSUs will fully vest on various dates between January 2029 and June 2029.

(3) These PRSUs vest on various dates between April 2029 and June 2029.

The number of units that ultimately vest will be between 0 % and 200 % and is dependent on the achievement of certain performance criteria.

(4) These awards include certain PRSUs with market performance conditions that will be evaluated relative to the performance of certain peers as defined in the award agreement.

The number of units that ultimately vest (in April 2029 and June 2029) w ill be from 0 % to 200 %, depe nding on achievement of these performance criteria.

Total grant date value of these PRSUs is approximately $ 8.9 million and was valued using the Monte Carlo method.

Restructuring and Other Charges, Net

3 unchanged sentences

Over the life of the Transformation Plan, we expect to incur restructuring charges of between $ 16.0 million and $ 24.0 million, primarily related to reductions-in-force and related site closure costs.

All restructur ing costs are excluded from segment results.

All restructuring costs are excluded from segment results.

The majority of the actions under the Transformation Plan are expected to be completed on or before June 30, 2028.

We expect to settle these charges with cash on hand.

In the year ended December 31, 2024, we committed to a plan to reorganize our business (the “2H 2024 Plan”).

The 2H 2024 Plan, consisting of involuntary reductions-in-force, site closures, and other cost-savings initiatives, was commenced to adjust our cost structure and business activities to better align with weaker market demand and continued economic uncertainty in many of our end markets and to take active measures to accelerate our margin recovery.

Over the life of the 2H 2024 Plan, we expect to incur restructuring charges of approxima tely $ 18.0 million , primarily related to reductions-in-force.

The majority of the actions under the 2H 2024 Plan were completed on or before December 31, 2025 and actions yet to be completed are expected to result in immaterial charges.

We expect to settle these charges with cash on hand.

In the year ended December 31, 2023, we committed to a plan to reorganize our business (the “Q3 2023 Plan”).

The Q3 2023 Plan, consisting of voluntary and involuntary reductions-in-force, site closures, and other cost-savings initiatives, was commenced to adjust our cost structure and business activities to better align with weaker market demand and continued economic uncertainty in many of our end markets and to take active measures to accelerate our margin recovery.

Over the life of the Q3 2023 Plan, we expect to incur restructuring charges of approximately $ 29.0 million , primarily related to reductions-in-force.

The majority of the actions under the Q3 2023 Plan were completed on or before December 31, 2025 and actions yet to be completed are expected to result in immaterial charges.

We expect to settle these charges with cash on hand.

The following table presents the components of restructuring and other charges, net for the three months ended March 31, 2026, and 2025:

For the three months ended

March 31, 2026 March 31, 2025

The following table presents the components of restructuring and other charges, net for the three and six months ended June 30, 2026, and 2025:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Transformation Plan

2H 2024 Plan, net

Q3 2023 Plan, net

$ 5.1 $ — $ 9.5 $ —

Other plans, net 0.4 3.2 0.8 6.6

Other restructuring and other charges, net

4 unchanged sentences

Restructuring and other charges, net $ ( 1.7 ) $ 6.6 $ 2.0 $ 13.6

The following table presents a rollforward of our severance liability, which is primarily related to the Transformation Plan, for the three months ended March 31, 2026:

The following table presents a rollforward of our severance liability, which is primarily related to the Transformation Plan, for the six months ended June 30, 2026:

Balance as of December 31, 2025

2 unchanged sentences

Foreign currency remeasurement 0.0

Balance as of March 31, 2026

The severance liability as of March 31, 2026 and December 31, 2025 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets.

The following table presents the components of other, net for the three months ended March 31, 2026 and 2025:

For the three months ended

March 31, 2026 March 31, 2025

Currency remeasurement gain/(loss) on net monetary assets $ 0.0 $ ( 0.5 )

Loss on foreign currency forward contracts ( 0.0 ) ( 1.6 )

Gain on commodity forward contracts 4.6 4.4

Balance as of June 30, 2026

The severance liability as of June 30, 2026 and December 31, 2025 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets.

The following table presents the components of other, net for the three and six months ended June 30, 2026 and 2025:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Currency remeasurement (loss)/gain on net monetary assets $ ( 4.5 ) $ 0.4 $ ( 4.5 ) $ ( 0.1 )

Gain/(loss) on foreign currency forward contracts 0.5 ( 2.5 ) 0.5 ( 4.1 )

(Loss)/gain on commodity forward contracts ( 3.6 ) 1.6 1.0 6.0

Gain on debt financing transactions 4.4 — 4.4 —

Gain on equity investments, net

0.3 1.0 0.3 1.0

Net periodic benefit cost, excluding service cost ( 1.3 ) ( 0.6 ) ( 2.1 ) ( 1.2 )

1 unchanged sentence

Other, net $ ( 3.6 ) $ 0.9 $ 0.4 $ 3.1

The following table presents the provision for income taxes for the three months ended March 31, 2026 and 2025:

For the three months ended

March 31, 2026 March 31, 2025

The following table presents the provision for income taxes for the three and six months ended June 30, 2026 and 2025:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Provision for income taxes $ 30.3 $ 45.1 $ 58.8 $ 65.8

2 unchanged sentences

In July 2025, the U.S.

enacted Public Law 119-21 (An Act to provide for reconciliation pursuant to title II of H.

14) (commonly referred to as the “One Big Beautiful Bill”).

The legislation includes multiple tax provisions with varying effective dates, with certain provisions effective January 1, 2025 and others becoming effective in later periods, including through 2027.

The Company is continuing to evaluate the provisions of the legislation, including available elections, interpretive guidance, and the related impacts on its consolidated financial statements and disclosures.

While the Company does not currently expect the adoption of Public Law 119‑21 to have a material adverse impact on its consolidated financial statements, the assessment of certain provisions is ongoing and may be affected by future guidance, elections made by the Company, or other developments.

enacted Public Law 119-21 (commonly referred to as the “One Big Beautiful Bill Act”).

The legislation includes multiple tax provisions with varying effective dates, certain of which became effective January 1, 2025 and others in later periods through 2027.

As a multinational company with significant U.S.

operations, the Company continues to evaluate the provisions of the legislation and related interpretive guidance.

While the Company does not currently expect the adoption of Public Law 119-21 to have a material impact on its consolidated financial statements, the assessment of certain provisions is ongoing.

Net Income per Share

Basic and diluted net income per share are calculated by dividing net income by the number of basic and diluted weighted-average ordinary shares outstanding during the period.

For the three months ended March 31, 2026 and 2025 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows:

For the three months ended

March 31, 2026 March 31, 2025

For the three and six months ended June 30, 2026 and 2025 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Basic weighted-average ordinary shares outstanding 145.5 146.2 145.5 147.4

Dilutive effect of stock options 0.0 — 0.0 —

Dilutive effect of unvested restricted securities 1.3 0.3 1.2 0.3

Diluted weighted-average ordinary shares outstanding 146.7 146.5 146.7 147.7

Net income and net income per share are presented in the condensed consolidated statements of operations.

Net income and net income per share are pr esented in the condensed consolidated statements of operations.

Certain potential ordinary shares were excluded from our calculation of diluted weighted-average ordinary shares outstanding because either they would have had an anti-dilutive effect on net income per share or they related to equity awards that were contingently issuable for which the contingency had not been satisfied.

These potential ordinary shares were as follows:

For the three months ended

March 31, 2026 March 31, 2025

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Anti-dilutive shares excluded 0.4 1.4 0.4 1.3

Contingently issuable shares excluded 1.6 1.0 1.2 0.9

The following table presents the components of inventories as of March 31, 2026 and December 31, 2025:

The following table presents the components of inventories as of June 30, 2026 and December 31, 2025:

2026 December 31,

3 unchanged sentences

Inventories $ 579.1 $ 617.8

The following table presents the components of long-term debt, net and finance lease obligations as of March 31, 2026 and December 31, 2025:

Maturity Date March 31,

In May 2026, Sensata Technologies B.V.

and Sensata Technologies, Inc., our indirect, wholly owned subsidiaries, announced the commencement of a cash tender offer for up to $ 400.0 million of aggregate cash consideration payable for the 4.0 % Senior Notes, the 4.375 % Senior Notes due 2030 (the " 4.375 % Senior Notes"), and the 5.875 % Senior Notes due 2030 (the " 5.875 % Senior Notes").

In June 2026, we purchased $ 406.1 million in aggregate principal amount of the 4.0 % Senior Notes that were validly tendered in connection with that tender offer.

We paid $ 400.0 million in cash in the aggregate for such purchase.

We did not purchase any 4.375 % Senior Notes or 5.875 % Senior Notes in these tender offers.

The following table presents the components of long-term debt, net and finance lease obligations as of June 30, 2026 and December 31, 2025:

Maturity Date June 30,

2026 December 31,

15 unchanged sentences

Finance lease obligations, less current portion $ 17.7 $ 18.9

Our indebtedness as of March 31, 2026 and December 31, 2025 consists of various tranches of senior unsecured notes as shown in the table above.

Our indebtedness as of June 30, 2026 and December 31, 2025 consists of various tranches of senior unsecured notes as shown in the table above.

We also have secured credit facilities (the "Senior Secured Credit Facilities") which provide for our $ 650.0 million revolving credit facility (the "Revolving Credit Facility") and incremental availability under which additional debt can be issued.

2 unchanged sentences

Revolving Credit Facility

As of March 31, 2026, we had $ 645.8 million available under the Revolving Credit Facility, net of $ 4.2 million of obligations in respect of outstanding letters of credit issued thereunder.

As of June 30, 2026, we had $ 645.8 million available under the Revolving Credit Facility, net of $ 4.2 million of obligations in respect of outstanding letters of credit issued thereunder.

Outstanding letters of credit are issued primarily for the benefit of certain operating activities.

As of March 31, 2026, no amounts had been drawn against these outstanding letters of credit.

As of June 30, 2026, no amounts had been drawn against these outstanding letters of credit.

During April 2026, the Company entered into a technical amendment to the Revolving Credit Facility correcting and clarifying certain details to conform the language with the intention of the Fourteenth Amendment that was signed in September 2025.

1 unchanged sentence

Accrued interest associated with our outstanding debt is included as a component of accrued expenses and other current liabilities in the condensed consolidated balance sheets.

As of March 31, 2026 and December 31, 2025, accrued interest totaled $ 27.5 million and $ 48.6 million, respectively.

As of June 30, 2026 and December 31, 2025, accrued interest totaled $ 45.2 million and $ 48.6 million, respectively.

Commitments and Contingencies

7 unchanged sentences

Cash Dividends

In the three months ended March 31, 2026 and 2025, we paid aggregate cash dividends o f $ 17.5 million an d $ 17.9 million, respectively.

In April 2026, we announced that our Board of Directors approved a quarterly dividend of $ 0.12 per share, payable in May 2026 to shareholders of record as of May 13, 2026.

In the three and six months ended June 30, 2026, we paid aggregate cash dividends of $ 17.5 million and $ 34.9 million, respectively, compared to $ 17.6 million and $ 35.5 million in the three and six months ended June 30, 2025, respectively.

In July 2026, we announced that our Board of Directors approved a quarterly dividend of $ 0.12 per share, payable in August 2026 to shareholders of record as of August 12, 2026.

Treasury Shares

3 unchanged sentences

In September 2023, our Board of Directors authorized a $ 500.0 million ordinary share repurchase program (the “September 2023 Program”), which became effective on October 1, 2023.

In the three months ended March 31, 2026 and 2025, we repurchased 0.7 million and 3.5 million ordinary shares for $ 25.1 million and $ 100.5 million, respectively.

All share repurchases in the three months ended March 31, 2026 and 2025 were made under the September 2023 Program.

As of March 31, 2026, $ 257.3 million remained available for repurchase under the September 2023 Program.

In the three months ended June 30, 2026 we did not purchase any shares under our share repurchase program.

In the three months ended June 30, 2025, we repurchased 0.7 million ordinary shares for $ 20.1 million.

In the six months ended June 30, 2026 and 2025, we repurchased 0.7 million and 4.2 million ordinary shares for $ 25.1 million and $ 120.6 million, respectively.

All share repurchases in the three and six months ended June 30, 2026 and 2025 were made under the September 2023 Program.

As of June 30, 2026, $ 257.3 million remained available for repurchase under the September 2023 Program.

Accumulated Other Comprehensive Income/Loss

The following table presents the components of accumulated other comprehensive income/(loss) for the three months ended March 31, 2026:

The following table presents the components of accumulated other comprehensive income/loss for the six months ended June 30, 2026:

Cash Flow Hedges Defined Benefit and Retiree Healthcare Plans Cumulative Translation Adjustment Accumulated Other Comprehensive Income/Loss

3 unchanged sentences

Other comprehensive income 19.8 0.0 17.8 37.6

Balance as of March 31, 2026 $ 11.9 $ ( 10.3 ) $ 11.3 $ 13.0

The following table presents the amounts reclassified from accumulated other comprehensive income/(loss) for the three months ended March 31, 2026 and 2025:

For the three months ended March 31, Affected Line in Condensed Consolidated Statements of Operations

Balance as of June 30, 2026 $ 20.3 $ ( 10.3 ) $ 20.1 $ 30.2

The following table presents the amounts reclassified from accumulated other comprehensive income/loss for the three and six months ended June 30, 2026 and 2025:

For the three months ended June 30, For the six months ended June 30, Affected Line in Condensed Consolidated Statements of Operations

Component 2026 2025 2026 2025

16 unchanged sentences

Measured on a Recurring Basis

The fair values of our assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 are shown in the below table.

The fair values of our assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 are shown in the below table.

2026 December 31,

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Financial Instruments Not Recorded at Fair Value

The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of March 31, 2026 and December 31, 2025.

The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025.

All fair value measures presented are categorized in Level 2 of the fair value hierarchy.

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

Carrying Value (1)

12 unchanged sentences

(1) Excluding any related debt discounts, premiums, and deferred financing costs.

In addition to the above, we hold certain equity investments that do not have readily determinable fair values for which we use the measurement alternative prescribed in FASB ASC Topic 321.

We hold certain equity investments that do not have readily determinable fair values for which we use the measurement alternative prescribed in FASB ASC Topic 321.

Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer.

As of March 31, 2026 and December 31, 2025, we held equity investments under the measurement alternative of $ 7.3 million, which are presented in other assets in the condensed consolidated balance sheets.

As of June 30, 2026 and December 31, 2025, we held equity investments under the measurement alternative of $ 7.2 million and $ 7.3 million , respectively, which are presented in other assets in the condensed consolidated balance sheets.

Derivative Instruments and Hedging Activities

Foreign Currency Derivatives

As of March 31, 2026, we had the following outstanding foreign currency forward contracts, which had the below hedge accounting designation in accordance with FASB ASC Topic 815, Derivatives and Hedging :

As of June 30, 2026, we had the following outstanding foreign currency forward contracts, which had the below hedge accounting designation in accordance with FASB ASC Topic 815, Derivatives and Hedging :

(in millions) Effective Date(s) Maturity Date(s) Index (Exchange Rates) Weighted-Average Strike Rate Hedge

Designation (1)

387.9 EUR Various from April 2024 to March 2026 Various from April 2026 to March 2028 Euro ("EUR") to USD 1.16 USD Cash flow hedge

3,848.6 MXN Various from April 2024 to March 2026 Various from April 2026 to March 2028 USD to Mexican Peso ("MXN") 19.96 MXN Cash flow hedge

66.3 GBP Various from April 2024 to March 2026 Various from April 2026 to March 2028 British Pound Sterling ("GBP") to USD 1.32 USD Cash flow hedge

387.7 EUR Various from July 2024 to June 2026 Various from July 2026 to June 2028 Euro ("EUR") to USD 1.18 USD Cash flow hedge

3,958.2 MXN Various from July 2024 to June 2026 Various from July 2026 to June 2028 USD to Mexican Peso ("MXN") 19.57 MXN Cash flow hedge

65.4 GBP Various from July 2024 to June 2026 Various from July 2026 to June 2028 British Pound Sterling ("GBP") to USD 1.33 USD Cash flow hedge

(in millions) Effective Date(s) Maturity Date(s) Index (Exchange Rates) Weighted-Average Strike Rate Hedge

Designation (1)

21.5 USD Various from April 2024 to May 2024 Various from April 2026 to May 2026 USD to Chinese Renminbi ("CNY") 6.97 CNY Not designated

149.8 CNY Various September 2024 Various from April 2026 to May 2026 USD to CNY 6.74 CNY Not designated

3,515.3 KRW Various from May 2024 to September 2024 Various from April 2026 to July 2026 USD to Korean Won ("KRW") 1,316.49 KRW Not designated

485.8 KRW Various from August 2024 to September 2024 Various from July 2026 to July 2026 USD to Korean Won ("KRW") 1,305.21 KRW Not designated

___________________________________

1 unchanged sentence

They are intended to preserve economic value, and they are not used for trading or speculative purposes.

As of March 31, 2026, we estimate that $ 12.0 million of net gain will be reclassified from accumulated other comprehensive income/(loss) to earnings during the twelve-month period ending March 31, 2027.

As of June 30, 2026, we estimate that $ 21.9 million of net gain will be reclassified from accumulated other comprehensive income/loss to earnings during the twelve-month period ending June 30, 2027.

Financial Instrument Presentation

The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of March 31, 2026 and December 31, 2025:

The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025:

Asset Derivatives Liability Derivatives

Balance Sheet Location March 31,

Balance Sheet Location June 30,

2026 December 31,

2025 Balance Sheet Location March 31,

2025 Balance Sheet Location June 30,

2026 December 31,

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These fair value measurements were all categorized within Level 2 of the fair value hierarchy.

The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the three months ended March 31, 2026 and 2025:

Derivatives designated as

hedging instruments Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income/(Loss) Location of Net (Loss)/Gain Reclassified from Accumulated Other Comprehensive Income/(Loss) into Net Income Amount of Net (Loss)/Gain Reclassified from Accumulated Other Comprehensive Income/(Loss) into Net Income

hedging instruments Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income Location of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income

2026 2025 2026 2025

2 unchanged sentences

Derivatives not designated as

hedging instruments Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income

hedging instruments Amount of (Loss)/Gain Recognized in Net Income Location of (Loss)/Gain Recognized in Net Income

Commodity forward contracts $ ( 3.6 ) $ 1.6 Other, net

Foreign currency forward contracts $ 0.5 $ ( 2.5 ) Other, net

Derivatives designated as

hedging instruments Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income Location of Net (Loss)/Gain Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income Amount of Net (Loss)/Gain Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income

2026 2025 2026 2025

Foreign currency forward contracts $ 14.9 $ ( 39.1 ) Net revenue $ ( 7.9 ) $ 4.3

Foreign currency forward contracts $ 9.3 $ 26.7 Cost of revenue $ 5.3 $ ( 7.5 )

Derivatives not designated as

hedging instruments Amount of (Loss)/Gain Recognized in Net Income Location of (Loss)/Gain Recognized in Net Income

Commodity forward contracts $ 1.0 $ 6.0 Other, net

Foreign currency forward contracts $ 0.5 $ ( 4.1 ) Other, net

Credit Risk Related Contingent Features

We have agreements with our derivative counterparties that contain a provision whereby if we default on our indebtedness and repayment of the indebtedness has been accelerated by the lender, then we could also be declared in default on our derivative obligations.

As of March 31, 2026, the termination value of outstanding derivatives in a liability position, excluding any adjustment for non-performance risk, was $ 8.7 million.

As of March 31, 2026, we had no t posted any cash collateral related to these agreements.

As of June 30, 2026, the termination value of outstanding derivatives in a liability position, excluding any adjustment for non-performance risk, was $ 4.5 million.

As of June 30, 2026, we had no t posted any cash collateral related to these agreements.

If we breach any of the default provisions on any of our indebtedness as described above, we could be required to settle our obligations under the derivative agreements at their termination values.

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We present financial information for three reportable segments, Automotive, Industrials, and Aerospace, Defense, and Commercial Equipment.

In the last quarter of 2025, we realigned our segments as a result of organizational changes that better

allocate our resources to support changes to our business strategy.

In the last quarter of 2025, we realigned our segments as a result of organizational changes that better allocate our resources to support changes to our business strategy.

Refer to Note 1:

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The CODM uses operating income primarily in the annual budget and forecasting process.

The CODM considers budget-to-actual variances on a quarterly basis for operating income when making decisions about the allocation of operating and capital resources to each segment.

Significant expenses reviewed by the CODM are segment cost of revenue and segment operating expenses.

considers budget-to-actual variances on a quarterly basis for operating income when making decisions about the allocation of resources to each segment.

We believe that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of our segments.

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Industrials primarily serves industrial customers through the development and manufacturing of a broad portfolio of application-specific sensor, power management, and electrical protection products used in a diverse range of industrial markets, including the appliance, HVAC, material handling, charging infrastructure, renewable energy generation, and microgrid applications and markets.

The Aerospace, Defense, and Commercial Equipment segment primarily serves the aerospace, including commercial aircraft, defense, and commercial equipment, which includes on-road truck, construction, and agriculture markets, through the development and manufacture of a variety of sensors, electrical protection products, operator controls, and other solutions that

are used in mission-critical systems and applications.

The following table presents net revenue, segment and non-segment operating expenses, and segment and non-segment operating income for the reportable segments and other operating results not allocated to our reportable segments for the three months ended March 31, 2026 and 2025:

For the three months ended

March 31, 2026 March 31, 2025

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Automotive (1)

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Industrials (1)

212.1 206.3 387.4 384.6

Aerospace, Defense, and Commercial Equipment (1)

233.7 209.7 464.0 410.3

Total net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6

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$ 369.4 $ 366.3 $ 731.2 $ 738.1

130.6 125.7 236.2 234.7

Aerospace, Defense, and Commercial Equipment

147.6 138.5 295.2 270.2

Total segment cost of revenue

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Industrials (1)

24.1 22.7 47.3 46.2

Aerospace, Defense, and Commercial Equipment (1)

21.0 19.9 38.7 38.4

Total segment operating expenses

4 unchanged sentences

Industrials (1)

57.5 57.9 103.9 103.8

Aerospace, Defense, and Commercial Equipment (1)

65.1 51.2 130.1 101.7

Total segment operating income

254.2 230.2 488.1 445.2

Corporate and other (1)

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___________________________________

(1) The amounts previously reported for the three months ended March 31, 2025 have been retrospectively recast to reflect the segment realignment as discussed in Note 1:

(1) The amounts previously reported for the three and six months ended June 30, 2025 have been retrospectively recast to reflect the segment realignment as discussed in Note 1:

Basis of Presentation .

(2) Segment operating expenses include research, development, and engineering, and selling, general and administrative expenses associated with each segment.

The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three months ended March 31, 2026 and 2025:

For the three months ended

March 31, 2026 March 31, 2025

The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three and six months ended June 30, 2026 and 2025:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Depreciation and amortization:

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Corporate and other (1)

23.2 26.4 46.1 59.1

Total depreciation and amortization $ 49.3 $ 54.5 $ 99.0 $ 116.1

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This treatment is consistent with the financial information reviewed by our chief operating decision maker.

The following table presents additions to PP&E and capitalized software for our reportable segments and corporate and other for the three months ended March 31, 2026 and 2025:

For the three months ended

March 31, 2026 March 31, 2025

The following table presents additions to property, plant and equipment ("PP&E") and capitalized software for our reportable segments and corporate and other for the three and six months ended June 30, 2026 and 2025:

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Additions to property, plant and equipment and capitalized software:

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Geographic Area Information

The following tables present net revenue by geographic area and by significant country for the three months ended March 31, 2026 and 2025.

The following tables present net revenue by geographic area and by significant country for the three and six months ended June 30, 2026 and 2025.

In these tables, net revenue is aggregated according to the location of our subsidiaries.

For the three months ended

March 31, 2026 March 31, 2025

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

Americas $ 404.6 $ 380.0 $ 780.4 $ 752.5

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Net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6

For the three months ended

March 31, 2026 March 31, 2025

For the three months ended For the six months ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

United States $ 394.5 $ 370.5 $ 760.2 $ 715.5

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Net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6

The following tables present PP&E, net, by geographic area and by significant country as of March 31, 2026 and December 31, 2025.

The following tables present PP&E, net, by geographic area and by significant country as of June 30, 2026 and December 31, 2025.

In these tables, PP&E, net is aggregated based on the location of our subsidiaries.

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The closing of the transaction occurred in the first quarter of 2025, at which time net assets transferred to the Buyer.

Subsequent Events

In July 2026, we entered into a settlement agreement with a customer related to the cancellation of an electric vehicle program.

During the third quarter of 2026, we expect to receive a payment of $ 24.0 million from this customer under the terms of the settlement agreement.

Cautionary Statements Concerning Forward-Looking Statements

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements