$TEL

TE Connectivity plc

CIK:0001385157|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 26, 2026	Jun. 27, 2025	Jun. 26, 2026	Jun. 27, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 5,160	$ 4,534	$ 14,573	$ 12,513
Cost of sales	3,325	2,934	9,254	8,094
Gross margin	1,835	1,600	5,319	4,419
Selling, general, and administrative expenses	532	491	1,606	1,372
Research, development, and engineering expenses	230	211	692	602
Acquisition and integration costs	9	27	20	41
Restructuring and other charges, net	83	14	103	109
Operating income	981	857	2,898	2,295
Interest income	21	17	67	62
Interest expense	(31)	(28)	(93)	(48)
Other income (expense), net			2	(2)
Income from continuing operations before income taxes	971	846	2,874	2,307
Income tax expense	(223)	(208)	(520)	(1,128)
Income from continuing operations	748	638	2,354	1,179
Loss from discontinued operations, net of income taxes			(1)
Net income	$ 748	$ 638	$ 2,353	$ 1,179
Basic earnings per share:
Income from continuing operations (in dollars per share)	$ 2.57	$ 2.16	$ 8.03	$ 3.96
Net income (in dollars per share)	2.57	2.16	8.03	3.96
Diluted earnings per share:
Income from continuing operations (in dollars per share)	2.55	2.14	7.98	3.93
Net income (in dollars per share)	$ 2.55	$ 2.14	$ 7.98	$ 3.93
Weighted-average number of shares outstanding:
Basic (in shares)	291	296	293	298
Diluted (in shares)	293	298	295	300

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Jun. 26, 2026	Jun. 27, 2025
Cash flows from operating activities:
Net income	$ 2,353	$ 1,179
Loss from discontinued operations, net of income taxes	1
Income from continuing operations	2,354	1,179
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	758	594
Deferred income taxes	261	772
Non-cash lease cost	118	106
Provision for losses on accounts receivable and inventories	61	62
Share-based compensation expense	130	105
Other	(51)	60
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net	(355)	(391)
Inventories	(365)	(299)
Prepaid expenses and other current assets	38	31
Accounts payable	433	298
Accrued and other current liabilities	(240)	(76)
Income taxes	(94)	172
Other	(51)	105
Net cash provided by operating activities	2,997	2,718
Cash flows from investing activities:
Capital expenditures	(832)	(665)
Proceeds from sale of property, plant, and equipment	6	7
Acquisition of businesses, net of cash acquired	(200)	(2,628)
Other	(6)	(12)
Net cash used in investing activities	(1,032)	(3,298)
Cash flows from financing activities:
Net increase (decrease) in commercial paper	100	(255)
Proceeds from issuance of debt	750	2,231
Repayment of debt	(851)	(580)
Proceeds from exercise of share options	79	101
Repurchase of ordinary shares	(1,348)	(910)
Payment of ordinary share dividends to shareholders	(643)	(594)
Other	(67)	(56)
Net cash used in financing activities	(1,980)	(63)
Effect of currency translation on cash	(1)	(4)
Net decrease in cash, cash equivalents, and restricted cash	(16)	(647)
Cash, cash equivalents, and restricted cash at beginning of fiscal period	1,255	1,319
Cash, cash equivalents, and restricted cash at end of fiscal period	$ 1,239	$ 672

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 26, 2026	Sep. 26, 2025
Current assets:
Cash and cash equivalents	$ 1,239	$ 1,255
Accounts receivable, net of allowance for doubtful accounts of $51 and $44, respectively	3,749	3,403
Inventories	3,027	2,699
Prepaid expenses and other current assets	728	609
Total current assets	8,743	7,966
Property, plant, and equipment, net	4,529	4,312
Goodwill	7,403	7,126
Intangible assets, net	2,081	2,227
Deferred income taxes	2,233	2,507
Other assets	1,081	943
Total assets	26,070	25,081
Current liabilities:
Short-term debt	102	852
Accounts payable	2,409	2,021
Accrued and other current liabilities	2,149	2,247
Total current liabilities	4,660	5,120
Long-term debt	5,530	4,842
Long-term pension and postretirement liabilities	737	767
Deferred income taxes	176	198
Income taxes	320	414
Other liabilities	1,254	1,010
Total liabilities	12,677	12,351
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests	147	145
Shareholders' equity:
Preferred shares, $1.00 par value, 2 shares authorized, none outstanding
Ordinary shares	3	3
Accumulated earnings	14,500	13,932
Ordinary shares held in treasury, at cost, 6,156,342 and 8,330,931 shares, respectively	(1,350)	(1,356)
Accumulated other comprehensive income	93	6
Total shareholders' equity	13,246	12,585
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	26,070	25,081
Ordinary class A
Shareholders' equity:
Ordinary shares