Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information and Holders
Our common shares are listed and traded on the NYSE under the symbol “TEL.” As of November 4, 2020, there were 18,230 shareholders of record of our common shares.
Performance Graph
The following graph compares the cumulative total shareholder return on our common shares against the cumulative return on the S&P 500 Index and the Dow Jones Electrical Components and Equipment Index. The graph assumes the investment of $100 in our common shares and in each index at fiscal year end 2015 and assumes the reinvestment of all dividends and distributions. The graph shows the cumulative total return for the last five fiscal years. The comparisons in the graph are based upon historical data and are not indicative of, nor intended to forecast, future performance of our common shares.
Fiscal Year End
2015
2016
2017
2018
2019
2020
TE Connectivity Ltd.
$
100.00
$
112.75
$
148.52
$
160.01
$
172.38
$
181.13
S&P 500 Index
100.00
114.80
136.17
160.55
166.53
189.01
Dow Jones Electrical Components and Equipment Index
100.00
118.71
153.08
170.22
163.89
171.79
(1)
$100 invested on September 25, 2015 in TE Connectivity Ltd.’s common shares and in indexes. Indexes calculated on month-end basis.
20
Table of Contents
Issuer Purchases of Equity Securities
The following table presents information about our purchases of our common shares during the quarter ended September 25, 2020:
Maximum
Total Number of
Approximate
Shares Purchased
Dollar Value
as Part of
of Shares that May
Total Number
Average Price
Publicly Announced
Yet Be Purchased
of Shares
Paid Per
Plans or
Under the Plans
Period
Purchased (1)
Share (1)
Programs (2)
or Programs (2)
June 27–July 24, 2020
295
$
81.09
—
$
995,115,788
July 25–August 28, 2020
6,752
88.11
—
995,115,788
August 29–September 25, 2020
8,106
99.26
—
995,115,788
Total
15,153
$
93.94
—
(1) These columns represent the acquisition of common shares from individuals to satisfy tax withholding requirements in connection with the vesting of restricted share awards issued under equity compensation plans.
(2) Our share repurchase program authorizes us to purchase a portion of our outstanding common shares from time to time through open market or private transactions, depending on business and market conditions. The share repurchase program does not have an expiration date.
ITEM 6. SELECTED FINANCIAL DATA
The following table presents selected consolidated financial data. The data presented should be read in conjunction with our Consolidated Financial Statements and accompanying notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Annual Report. Our consolidated financial information may not be indicative of our future performance.
As of or for Fiscal
2020
2019
2018
2017
2016 (1)
(in millions, except per share data)
Statement of Operations Data
Net sales
$
12,172
$
13,448
$
13,988
$
12,185
$
11,352
Acquisition and integration costs
36
27
14
6
22
Restructuring and other charges (credits), net (2)
257
255
126
147
(2)
Impairment of goodwill (3)
900
—
—
—
—
Other income (expense), net (4)
20
2
1
(42)
(677)
Income tax (expense) benefit (5)
(783)
15
344
(180)
826
Income (loss) from continuing operations
(259)
1,946
2,584
1,540
1,847
Income (loss) from discontinued operations, net of income taxes (6)
18
(102)
(19)
143
162
Net income (loss)
(241)
1,844
2,565
1,683
2,009
Per Share Data
Basic earnings (loss) per share:
Income (loss) from continuing operations
$
(0.78)
$
5.76
$
7.38
$
4.34
$
5.05
Net income (loss)
(0.73)
5.46
7.33
4.74
5.49
Diluted earnings (loss) per share:
Income (loss) from continuing operations
$
(0.78)
$
5.72
$
7.32
$
4.30
$
5.01
Net income (loss)
(0.73)
5.42
7.27
4.70
5.44
Dividends paid per common share
$
1.88
$
1.80
$
1.68
$
1.54
$
1.40
Balance Sheet Data
Total assets
$
19,242
$
19,694
$
20,386
$
19,403
$
17,608
Long-term liabilities
6,057
5,584
5,145
5,805
6,057
Total shareholders’ equity
9,383
10,570
10,831
9,751
8,485
(1) Fiscal 2016 was a 53-week year.
21
Table of Contents
(2) Fiscal 2016 included a pre-tax gain of $144 million on the sale of our Circuit Protection Devices business.
(3) Fiscal 2020 included a goodwill impairment charge related to the Sensors reporting unit in our Transportation Solutions segment. See Note 8 to the Consolidated Financial Statements for additional information regarding the impairment of goodwill.
(4) Fiscal 2016 net other income (expense) was recorded primarily pursuant to the Tax Sharing Agreement with Tyco International plc and Covidien plc and included $604 million of other expense related to the effective settlement of tax matters for the years 1997 through 2000 and $46 million of other expense related to a tax settlement in another tax jurisdiction.
(5) For fiscal 2020, 2019, and 2018, see Note 16 to the Consolidated Financial Statements for additional information. Fiscal 2016 included a $1,135 million income tax benefit related to the effective settlement of tax matters for the years 1997 through 2000, partially offset by a $91 million income tax charge related to an increase to the valuation allowance for certain U.S. deferred tax assets. Additionally, fiscal 2016 included an $83 million net income tax benefit related to tax settlements in certain other tax jurisdictions, partially offset by an income tax charge related to certain legal entity restructurings.
(6) Fiscal 2019 included a pre-tax loss of $86 million on the sale of our Subsea Communications business. For additional information regarding discontinued operations, see Note 4 to the Consolidated Financial Statements.