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Amphenol Corp (APH) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Amphenol Corp

CIK: 820313 Ticker: APH

Exhibit 99.1

Amphenol

News Release

World Headquarters

358 Hall Avenue

Wallingford, CT 06492

Telephone (203) 265-8900

AMPHENOL REPORTS RECORD FOURTH QUARTER

AND FULL YEAR 2021 RESULTS

Fourth Quarter 2021 Highlights:

Record sales of $3.027 billion, up 25% in U.S. dollars and 18% organically compared to the fourth quarter 2020
Record GAAP diluted EPS of $0.72, up 26% compared to prior year
Record Adjusted Diluted EPS of $0.70, up 23% compared to prior year
GAAP and Adjusted Operating Margin of 19.6% and 20.1%
Record Operating and Free Cash Flow of $464 million and $379 million
Acquired Halo Technology and completed the MTS Test & Simulation sale

Full Year 2021 Highlights:

Record sales of $10.876 billion, up 26% in U.S. dollars and 18% organically compared to the full year 2020
Record GAAP diluted EPS of $2.51, up 28% compared to prior year
Record Adjusted Diluted EPS of $2.48, up 33% compared to prior year
GAAP and Adjusted Operating Margin of 19.4% and 20.0%
Operating Cash Flow and Free Cash Flow of $1.524 billion and $1.167 billion
Completed seven acquisitions
Returned more than $1 billion to shareholders

Wallingford, Connecticut, January 26, 2022. Amphenol Corporation (NYSE: APH) today reported fourth quarter and full year 2021 results.

“We are pleased to have closed 2021 with fourth quarter sales and Adjusted Diluted EPS significantly exceeding the high end of our guidance,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt. “Sales increased from prior year by a strong 25% in the quarter, with particularly robust growth in the IT data communications, industrial, mobile networks, commercial air, automotive and broadband markets, including contributions from the Company’s acquisition program. For the full year, sales increased 26% compared to 2020, driven by strong growth across virtually all end markets, including contributions from the Company’s acquisition program. Despite facing substantial inflationary pressures and supply chain disruptions, full year Adjusted Diluted EPS grew by an impressive 33%. We are very proud of the Company’s outstanding performance in this most challenging and dynamic year.”

“Throughout the year, we continued to deploy our financial strength in a variety of ways to increase shareholder value. During the fourth quarter, the Company purchased 2.1 million shares of its common stock for $171 million and paid dividends of $87 million, resulting in total capital returned to shareholders in 2021 of more than $1 billion.”

“We remain focused on expanding our growth opportunities through a deep commitment to developing enabling technologies for customers in all markets, an ongoing strategy of market and geographic diversification and an active and successful acquisition program. To that end, we were excited to have announced on December 1, 2021, the acquisition of Halo Technology Limited, as well as the closing of the sale of the MTS Test & Simulation business to Illinois Tool Works Inc. (NYSE: ITW). With the closing of the Halo acquisition, we successfully completed seven acquisitions in 2021. These new companies have broadened our high-technology product offering, expanded our position across most of our end markets and deepened our pool of talented, entrepreneurial managers around the world.”

Creation of Three New Divisions

Effective January 1, 2022, Amphenol aligned its business units into three newly formed Divisions: Harsh Environment Solutions (HES), Communications Solutions (CS), and Interconnect and Sensor Systems (ISS). This new alignment reinforces the Company’s entrepreneurial culture and the clear accountability of each of our business unit general managers, while enhancing the scalability of Amphenol’s business for the future. Beginning with the first quarter of 2022, the Company will report the financial results of these three new Divisions as separate reportable segments, replacing the Company’s previous two reportable segments. We will provide the results of these new reportable segments, as well as comparable historical financial data, with our first quarter 2022 results.


The following information was filed by Amphenol Corp (APH) on Wednesday, January 26, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amphenol Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
Acquisitions
Acquisitions (Details)
Benefit Plans And Other Postretirement Benefits
Benefit Plans And Other Postretirement Benefits (Tables)
Benefit Plans And Other Postretirement Benefits, Amount Included In Accumulated Other Comprehensive Loss Not Yet Recognized As Expense (Details)
Benefit Plans And Other Postretirement Benefits, Benefit Obligation And Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Defined Contribution Plans (Details)
Benefit Plans And Other Postretirement Benefits, Expected Long-Term Rate Of Return (Details)
Benefit Plans And Other Postretirement Benefits, Fair Value Measurements Of Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Level 3 Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Net Pension Expense (Details)
Benefit Plans And Other Postretirement Benefits, Opeb Benefit Obligation And Benefit Expense (Details)
Benefit Plans And Other Postretirement Benefits, Other (Details)
Benefit Plans And Other Postretirement Benefits, Pension Plans With A Projected Benefit Obligation In Excess Of Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Discontinued Operations
Discontinued Operations (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share, Reconciliation (Details)
Equity
Equity (Tables)
Equity, Accumulated Other Comprehensive Income (Loss) (Details)
Equity, Authorized Shares For Issuance (Details)
Equity, Dividends (Details)
Equity, Non-Vested Stock Option Activity (Details)
Equity, Option Plans (Details)
Equity, Restricted Shares (Details)
Equity, Stock Option Activity (Details)
Equity, Stock Options (Details)
Equity, Stock Repurchase (Details)
Equity, Stock-Based Compensation (Details)
Equity, Weighted Average Assumptions (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets, Amortization (Details)
Goodwill And Other Intangible Assets, Goodwill (Details)
Goodwill And Other Intangible Assets, Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes, 2017 Tax Cuts And Jobs Act (Details)
Income Taxes, Deferred Tax Assets And Liabilities (Details)
Income Taxes, Pretax Income And Provision For Income Taxes (Details)
Income Taxes, U.S. Statutory Federal Tax Rate (Details)
Income Taxes, Unrecognized Tax Benefits (Details)
Income Taxes, Valuation Allowance And Tax Carryforwards (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases, Operating Lease Cost (Narrative) (Details)
Leases, Operating Lease Maturity Table And Account Balances (Details)
Leases, Other Supplemental Data Related To Operating Leases (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt, Commercial Paper (Details)
Long-Term Debt, Debt Maturity (Details)
Long-Term Debt, Euro Senior Notes (Details)
Long-Term Debt, Letter Of Credit (Details)
Long-Term Debt, Revolving Credit Facility (Details)
Long-Term Debt, Schedule Of Debt (Details)
Long-Term Debt, U.S. Senior Notes (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Components Of Property, Plant And Equipment, Net) (Details)
Property, Plant And Equipment, Net (Narrative) (Details)
Property, Plant And Equipment, Net (Tables)
Reportable Business Segments And International Operations
Reportable Business Segments And International Operations (Tables)
Reportable Business Segments And International Operations, Disaggregation Of Net Sales (Details)
Reportable Business Segments And International Operations, Geographic Information (Details)
Reportable Business Segments And International Operations, Other (Details)
Reportable Business Segments And International Operations, Reconciliation Of Segment Assets (Details)
Reportable Business Segments And International Operations, Reconciliation Of Segment Operating Income To Consolidated Income Before Income Taxes (Details)
Reportable Business Segments And International Operations, Segment Results (Details)
Schedule Ii - Valuation And Qualifying Accounts (Details)
Schedule Ii Valuation And Qualifying Accounts
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies, Business (Details)
Summary Of Significant Accounting Policies, Depreciable Assets (Details)
Summary Of Significant Accounting Policies, Derivatives (Details)
Summary Of Significant Accounting Policies, Goodwill And Intangible Assets (Details)
Summary Of Significant Accounting Policies, Income Taxes (Details)
Summary Of Significant Accounting Policies, Leases (Details)
Summary Of Significant Accounting Policies, Research And Development (Details)
Summary Of Significant Accounting Policies, Revenue Recognition (Details)
Summary Of Significant Accounting Policies, Stock Split (Details)
Ticker: APH
CIK: 820313
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-000961
Submitted to the SEC: Wed Feb 09 2022 4:39:10 PM EST
Accepted by the SEC: Wed Feb 09 2022
Period: Friday, December 31, 2021
Industry: Electronic Connectors

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