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Sensata Technologies Holding Plc (ST) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Sensata Technologies Holding Plc

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CIK: 1477294 Ticker: ST

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SENSATA TECHNOLOGIES REPORTS FOURTH QUARTER
AND FULL YEAR 2022 FINANCIAL RESULTS

Company achieved record new business wins of over $1 billion during 2022
Annual revenue exceeds $4 billion for the first time
Swindon, United Kingdom – January 31, 2023
 - Sensata Technologies (NYSE: ST), a global industrial technology company and leading provider of sensor-rich solutions that create insights for customers, today announced financial results for its fourth quarter and full year ended December 31, 2022.
"Sensata continued to execute its strategic growth plan and delivered 10.0% organic revenue growth in the fourth quarter and a record $4.0 billion in revenue for the full year, including revenue growth outpacing markets served by 820 basis points,” said Jeff Cote, CEO and President of Sensata. "During 2022, the Company was awarded over $1 billion in new business wins, a new record that demonstrates the value of Sensata’s investments in the growth vectors of electrification and data insights. The significant business wins in the past two years underpin the future market outgrowth of the Company and our strong long-term performance. Looking forward, given our established success in our Electrification and Insights businesses, Sensata will focus on integrating and growing these innovative platforms organically, and prioritize earnings growth and the resulting free cash flow toward strengthening the balance sheet and de-levering, including targeting a net leverage range of 1.5x to 2.5x within the next 2 to 3 years.”
Operating results for the fourth quarter of 2022 compared to the fourth quarter of 2021 are summarized below. These results include non-GAAP financial measures, each of which is defined and reconciled to the most directly comparable GAAP measure later in this press release.
Revenue:
•Revenue was $1,014.7 million, an increase of $80.1 million, or 8.6%, compared to $934.6 million in the fourth quarter of 2021.
•Revenue increased 10.0% on an organic basis, which excludes a decrease of (3.6)% from foreign currency exchange rates and an increase of 2.2% from acquisitions, net of divestitures, each versus the prior year period.
Operating income:
•Operating income was $152.4 million, or 15.0% of revenue, an increase of $2.7 million, or 1.8%, compared to operating income of $149.7 million, or 16.0% of revenue, in the fourth quarter of 2021.
•Adjusted operating income was $204.3 million, or 20.1% of revenue, an increase of $6.7 million, or 3.4%, compared to adjusted operating income of $197.6 million, or 21.1% of revenue, in the fourth quarter of 2021.
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The following information was filed by Sensata Technologies Holding Plc (ST) on Tuesday, January 31, 2023 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 Sensata Technologies Holding Plc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Acquisitions And Divestitures
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Acquired Intangible Assets And Weighted Average Useful Lives (Details)
Acquisitions And Divestitures - Acquisitions - Additional Information (Details)
Acquisitions And Divestitures - Divestitures (Details)
Acquisitions And Divestitures - Schedule Of Assets Acquired And Liabilities Assumed (Details)
Business Description And Basis Of Presentation
Business Description And Basis Of Presentation (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Purchase Commitments (Details)
Debt
Debt (Tables)
Debt - Accounting For Debt Financing Transactions (Details)
Debt - Debt Maturities (Details)
Debt - Fiscal Year 2021 Transactions (Details)
Debt - Fiscal Year 2022 Transactions (Details)
Debt - Restrictions And Covenants (Details)
Debt - Schedule Of Debt Redemption As Percentage Of Principal Amount (Details)
Debt - Schedule Of Long-Term Debt, Net And Finance Lease And Other Financing Obligations (Details)
Debt - Secured Credit Facility (Details)
Debt - Senior Notes (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Credit Risk Related Contingent Features (Details)
Derivative Instruments And Hedging Activities - Fair Value (Details)
Derivative Instruments And Hedging Activities - Income Statement Disclosures (Details)
Derivative Instruments And Hedging Activities - Schedule Of Derivative Instruments (Details)
Fair Value Measures
Fair Value Measures (Tables)
Fair Value Measures - Balance Sheet Grouping (Details)
Fair Value Measures - Carrying Values Of These Investments (Details)
Fair Value Measures - Narrative (Details)
Fair Value Measures - Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis (Details)
Goodwill And Other Intangible Assets, Net
Goodwill And Other Intangible Assets, Net (Tables)
Goodwill And Other Intangible Assets, Net - Acquired Finite-Lived Intangible Assets (Details)
Goodwill And Other Intangible Assets, Net - Additional Information (Details)
Goodwill And Other Intangible Assets, Net - Schedule Of Changes In Goodwill (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Income Tax Assets And Liabilities (Details)
Income Taxes - Effective Tax Rate Reconciliation (Details)
Income Taxes - Income Before Taxes (Details)
Income Taxes - Interest And Penalties (Details)
Income Taxes - Narrative (Details)
Income Taxes - Provision For Income Taxes (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Lease Liabilities (Details)
Leases - Maturity Of Obligations Related To Operating And Finance Leases (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Remaining Lease Term And Discount Rate (Details)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Anti-Dilutive Shares (Details)
Net Income Per Share - Weighted-Average Ordinary Shares Outstanding For Basic And Diluted Net Income Per Share (Details)
Other, Net
Other, Net (Details)
Other, Net (Tables)
Pension And Other Post-Retirement Benefits
Pension And Other Post-Retirement Benefits (Tables)
Pension And Other Post-Retirement Benefits - Change In Benefit Obligation And Plan Assets (Details)
Pension And Other Post-Retirement Benefits - Narrative (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Details)
Property, Plant And Equipment, Net (Tables)
Property, Plant And Equipment, Net - Assets Under Finance Leases (Details)
Restructuring And Other Charges, Net
Restructuring And Other Charges, Net (Tables)
Restructuring And Other Charges, Net - Additional Information (Details)
Restructuring And Other Charges, Net - Components Of Restructuring And Other Charges, Net (Details)
Restructuring And Other Charges, Net - Restructuring Charges By Impacted Segment (Details)
Restructuring And Other Charges, Net - Schedule Of Restructuring Liabilities (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Schedule I - Condensed Financial Information Of The Registrant
Schedule I - Condensed Financial Information Of The Registrant (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Geographic Information (Details)
Segment Reporting - Schedules Of Segment Reporting (Details)
Share-Based Payment Plans
Share-Based Payment Plans (Tables)
Share-Based Payment Plans - Activity Related To Outstanding Restricted Securities (Details)
Share-Based Payment Plans - Aggregate Intrinsic Value And Weighted-Average Remaining Periods On Restricted Stock (Details)
Share-Based Payment Plans - Narrative (Details)
Share-Based Payment Plans - Restricted Securities Granted (Details)
Share-Based Payment Plans - Share Based Compensation Expense (Details)
Share-Based Payment Plans - Summary Of Stock Option Activity (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Accumulated Other Comprehensive Loss (Details)
Shareholders' Equity - Components Of Other Comprehensive Loss (Details)
Shareholders' Equity - Narrative (Details)
Shareholders' Equity - Reclassification Out Of Accumulated Other Comprehensive Income (Loss) (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Financial Instruments (Details)
Significant Accounting Policies - Goodwill (Details)
Significant Accounting Policies - Leases (Details)
Significant Accounting Policies - Property, Plant And Equipment And Other Capitalized Costs (Details)
Significant Accounting Policies - Revenue Recognition (Details)
Subsequent Events
Subsequent Events (Details)
Ticker: ST
CIK: 1477294
Form Type: 10-K Annual Report
Accession Number: 0001477294-23-000010
Submitted to the SEC: Mon Feb 13 2023 3:00:22 PM EST
Accepted by the SEC: Mon Feb 13 2023
Period: Saturday, December 31, 2022
Industry: Industrial Instruments For Measurement Display And Control

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