Attached files
| file | filename |
|---|---|
| 8-K - 8-K - TE Connectivity Ltd. | a15-6502_28k.htm |
| EX-99.2 - EX-99.2 - TE Connectivity Ltd. | a15-6502_2ex99d2.htm |
| EX-99.3 - EX-99.3 - TE Connectivity Ltd. | a15-6502_2ex99d3.htm |
| EX-99.1 - EX-99.1 - TE Connectivity Ltd. | a15-6502_2ex99d1.htm |
Exhibit 99.4
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 26, 2014
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges (1) |
|
Charges, Net |
|
Items (2) |
|
(Non-GAAP) (3) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
295 |
|
$ |
41 |
|
$ |
1 |
|
$ |
— |
|
$ |
337 |
|
|
Industrial Solutions |
|
86 |
|
10 |
|
2 |
|
— |
|
98 |
| |||||
|
Communications Solutions |
|
44 |
|
— |
|
22 |
|
— |
|
66 |
| |||||
|
Total |
|
$ |
425 |
|
$ |
51 |
|
$ |
25 |
|
$ |
— |
|
$ |
501 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
13.9 |
% |
|
|
|
|
|
|
16.4 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income (Expense), Net |
|
$ |
(70 |
) |
$ |
— |
|
$ |
— |
|
$ |
83 |
|
$ |
13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax (Expense) Benefit |
|
$ |
109 |
|
$ |
(14 |
) |
$ |
(1 |
) |
$ |
(211 |
) |
$ |
(117 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
435 |
|
$ |
37 |
|
$ |
24 |
|
$ |
(128 |
) |
$ |
368 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
1.05 |
|
$ |
0.09 |
|
$ |
0.06 |
|
$ |
(0.31 |
) |
$ |
0.89 |
|
(1) Includes $24 million of acquisition and integration costs and $27 million of non-cash amortization associated with fair value adjustments related to acquired inventories and customer order backlog recorded in cost of sales.
(2) Includes $189 million of income tax benefits associated with the settlement of audits of prior year income tax returns as well as the related impact of $83 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien. Also includes income tax benefits related to the impacts of certain non-U.S. tax law changes and the associated reduction in the valuation allowance for tax loss carryforwards.
(3) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 26, 2014
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges (1) |
|
Charges, Net |
|
Items (2) |
|
(Non-GAAP) (3) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
297 |
|
$ |
4 |
|
$ |
4 |
|
$ |
— |
|
$ |
305 |
|
|
Industrial Solutions |
|
113 |
|
29 |
|
— |
|
— |
|
142 |
| |||||
|
Communications Solutions |
|
41 |
|
— |
|
— |
|
— |
|
41 |
| |||||
|
Total |
|
$ |
451 |
|
$ |
33 |
|
$ |
4 |
|
$ |
— |
|
$ |
488 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
14.7 |
% |
|
|
|
|
|
|
15.9 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income, Net |
|
$ |
6 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax (Expense) Benefit |
|
$ |
185 |
|
$ |
(7 |
) |
$ |
3 |
|
$ |
(282 |
) |
$ |
(101 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
614 |
|
$ |
26 |
|
$ |
7 |
|
$ |
(282 |
) |
$ |
365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
1.48 |
|
$ |
0.06 |
|
$ |
0.02 |
|
$ |
(0.68 |
) |
$ |
0.88 |
|
(1) Includes $29 million of acquisition and integration costs and $4 million of non-cash amortization associated with fair value adjustments primarily related to acquired inventories and customer order backlog recorded in cost of sales.
(2) Income tax benefits recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards.
(3) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended June 27, 2014
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| ||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
| ||||
|
|
|
|
|
Related |
|
and Other |
|
Adjusted |
| ||||
|
|
|
U.S. GAAP |
|
Charges |
|
Charges, Net |
|
(Non-GAAP) (1) |
| ||||
|
|
|
($ in millions, except per share data) |
| ||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
| ||||
|
Transportation Solutions |
|
$ |
325 |
|
$ |
— |
|
$ |
— |
|
$ |
325 |
|
|
Industrial Solutions |
|
121 |
|
1 |
|
1 |
|
123 |
| ||||
|
Communications Solutions |
|
18 |
|
— |
|
9 |
|
27 |
| ||||
|
Total |
|
$ |
464 |
|
$ |
1 |
|
$ |
10 |
|
$ |
475 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
Operating Margin |
|
15.1 |
% |
|
|
|
|
15.4 |
% | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Other Income, Net |
|
$ |
9 |
|
$ |
— |
|
$ |
— |
|
$ |
9 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
Income Tax Expense |
|
$ |
(102 |
) |
$ |
— |
|
$ |
(3 |
) |
$ |
(105 |
) |
|
|
|
|
|
|
|
|
|
|
| ||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
347 |
|
$ |
1 |
|
$ |
7 |
|
$ |
355 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.83 |
|
$ |
— |
|
$ |
0.02 |
|
$ |
0.85 |
|
(1) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended March 28, 2014
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
|
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Acquisition |
|
and Other |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
Charges |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges |
|
(Credits), Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
338 |
|
$ |
— |
|
$ |
(1 |
) |
$ |
— |
|
$ |
337 |
|
|
Industrial Solutions |
|
102 |
|
1 |
|
4 |
|
— |
|
107 |
| |||||
|
Communications Solutions |
|
31 |
|
— |
|
(4 |
) |
— |
|
27 |
| |||||
|
Total |
|
$ |
471 |
|
$ |
1 |
|
$ |
(1 |
) |
$ |
— |
|
$ |
471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
15.9 |
% |
|
|
|
|
|
|
15.9 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income, Net |
|
$ |
16 |
|
$ |
— |
|
$ |
— |
|
$ |
(14 |
) |
$ |
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax Expense |
|
$ |
(120 |
) |
$ |
— |
|
$ |
(3 |
) |
$ |
36 |
|
$ |
(87 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
340 |
|
$ |
1 |
|
$ |
(4 |
) |
$ |
22 |
|
$ |
359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.82 |
|
$ |
— |
|
$ |
(0.01 |
) |
$ |
0.05 |
|
$ |
0.86 |
|
(1) Includes income tax expense related to adjustments to prior year income tax returns. In addition, other income includes amounts related to reimbursements by Tyco International and Covidien in connection with pre-separation tax matters.
(2) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 27, 2013
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| ||||||
|
|
|
|
|
Restructuring |
|
|
|
|
| ||||
|
|
|
|
|
and Other |
|
Tax |
|
Adjusted |
| ||||
|
|
|
U.S. GAAP |
|
Charges, Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| ||||
|
|
|
($ in millions, except per share data) |
| ||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
| ||||
|
Transportation Solutions |
|
$ |
285 |
|
$ |
1 |
|
$ |
— |
|
$ |
286 |
|
|
Industrial Solutions |
|
95 |
|
2 |
|
— |
|
97 |
| ||||
|
Communications Solutions |
|
39 |
|
3 |
|
— |
|
42 |
| ||||
|
Total |
|
$ |
419 |
|
$ |
6 |
|
$ |
— |
|
$ |
425 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
Operating Margin |
|
14.6 |
% |
|
|
|
|
14.8 |
% | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Other Income, Net |
|
$ |
32 |
|
$ |
— |
|
$ |
(25 |
) |
$ |
7 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
Income Tax Expense |
|
$ |
(109 |
) |
$ |
(1 |
) |
$ |
7 |
|
$ |
(103 |
) |
|
|
|
|
|
|
|
|
|
|
| ||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
313 |
|
$ |
5 |
|
$ |
(18 |
) |
$ |
300 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.75 |
|
$ |
0.01 |
|
$ |
(0.04 |
) |
$ |
0.72 |
|
(1) Includes income tax expense related to adjustments to prior year income tax returns. In addition, other income includes amounts related to reimbursements by Tyco International and Covidien in connection with pre-separation tax matters, including $18 million related to our share of a settlement agreement entered into by Tyco International with a former subsidiary.
(2) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 27, 2013
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges |
|
Charges, Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
249 |
|
$ |
2 |
|
$ |
10 |
|
$ |
— |
|
$ |
261 |
|
|
Industrial Solutions |
|
122 |
|
1 |
|
7 |
|
— |
|
130 |
| |||||
|
Communications Solutions |
|
64 |
|
— |
|
9 |
|
— |
|
73 |
| |||||
|
Total |
|
$ |
435 |
|
$ |
3 |
|
$ |
26 |
|
$ |
— |
|
$ |
464 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
14.9 |
% |
|
|
|
|
|
|
15.9 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income, Net |
|
$ |
16 |
|
$ |
— |
|
$ |
— |
|
$ |
(9 |
) |
$ |
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax Expense |
|
$ |
(58 |
) |
$ |
(2 |
) |
$ |
(5 |
) |
$ |
(40 |
) |
$ |
(105 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
364 |
|
$ |
1 |
|
$ |
21 |
|
$ |
(49 |
) |
$ |
337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.87 |
|
$ |
— |
|
$ |
0.05 |
|
$ |
(0.12 |
) |
$ |
0.80 |
|
(1) Includes income tax benefits recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards partially offset by income tax expense related to adjustments to prior year income tax returns. In addition, the other income adjustment includes amounts related to reimbursements by Tyco International and Covidien in connection with pre-separation tax matters.
(2) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended June 28, 2013
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges |
|
Charges, Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
272 |
|
$ |
1 |
|
$ |
— |
|
$ |
— |
|
$ |
273 |
|
|
Industrial Solutions |
|
79 |
|
2 |
|
23 |
|
— |
|
104 |
| |||||
|
Communications Solutions |
|
32 |
|
— |
|
21 |
|
— |
|
53 |
| |||||
|
Total |
|
$ |
383 |
|
$ |
3 |
|
$ |
44 |
|
$ |
— |
|
$ |
430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
13.0 |
% |
|
|
|
|
|
|
14.6 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income, Net |
|
$ |
18 |
|
$ |
— |
|
$ |
— |
|
$ |
(8 |
) |
$ |
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax Expense |
|
$ |
(89 |
) |
$ |
(1 |
) |
$ |
(13 |
) |
$ |
— |
|
$ |
(103 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
281 |
|
$ |
2 |
|
$ |
31 |
|
$ |
(8 |
) |
$ |
306 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.67 |
|
$ |
— |
|
$ |
0.07 |
|
$ |
(0.02 |
) |
$ |
0.73 |
|
(1) Relates to reimbursements by Tyco International and Covidien in connection with pre-separation tax matters.
(2) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended March 29, 2013
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges |
|
Charges, Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
231 |
|
$ |
1 |
|
$ |
19 |
|
$ |
— |
|
$ |
251 |
|
|
Industrial Solutions |
|
75 |
|
2 |
|
21 |
|
— |
|
98 |
| |||||
|
Communications Solutions |
|
(1 |
) |
— |
|
42 |
|
— |
|
41 |
| |||||
|
Total |
|
$ |
305 |
|
$ |
3 |
|
$ |
82 |
|
$ |
— |
|
$ |
390 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
10.8 |
% |
|
|
|
|
|
|
13.8 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income, Net |
|
$ |
9 |
|
$ |
— |
|
$ |
— |
|
$ |
(1 |
) |
$ |
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax Expense |
|
$ |
(33 |
) |
$ |
(1 |
) |
$ |
(24 |
) |
$ |
(13 |
) |
$ |
(71 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
250 |
|
$ |
2 |
|
$ |
58 |
|
$ |
(14 |
) |
$ |
296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.59 |
|
$ |
— |
|
$ |
0.14 |
|
$ |
(0.03 |
) |
$ |
0.70 |
|
(1) Reflects income tax benefits recognized in connection with the lapse of statutes of limitations for examinations of prior year income tax returns in certain non-U.S. locations partially offset by income tax expense related to adjustments to prior year income tax returns.
(2) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 28, 2012
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges |
|
Charges, Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
182 |
|
$ |
3 |
|
$ |
10 |
|
$ |
— |
|
$ |
195 |
|
|
Industrial Solutions |
|
68 |
|
2 |
|
12 |
|
— |
|
82 |
| |||||
|
Communications Solutions |
|
12 |
|
— |
|
48 |
|
— |
|
60 |
| |||||
|
Total |
|
$ |
262 |
|
$ |
5 |
|
$ |
70 |
|
$ |
— |
|
$ |
337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
9.7 |
% |
|
|
|
|
|
|
12.4 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income (Expense), Net |
|
$ |
(226 |
) |
$ |
— |
|
$ |
— |
|
$ |
231 |
|
$ |
5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax (Expense) Benefit |
|
$ |
255 |
|
$ |
(1 |
) |
$ |
(20 |
) |
$ |
(301 |
) |
$ |
(67 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
259 |
|
$ |
4 |
|
$ |
50 |
|
$ |
(70 |
) |
$ |
243 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
0.61 |
|
$ |
0.01 |
|
$ |
0.12 |
|
$ |
(0.16 |
) |
$ |
0.57 |
|
(1) Includes $331 million of income tax benefits associated with the settlement of an audit of prior year tax returns as well as the related impact of $231 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien. Also includes income tax expense related to adjustments to prior year income tax returns and the estimated impacts of certain intercompany dividends.
(2) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 26, 2014
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges (1) |
|
Charges, Net |
|
Items (2) |
|
(Non-GAAP) (3) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
1,245 |
|
$ |
4 |
|
$ |
4 |
|
$ |
— |
|
$ |
1,253 |
|
|
Industrial Solutions |
|
431 |
|
31 |
|
7 |
|
— |
|
469 |
| |||||
|
Communications Solutions |
|
129 |
|
— |
|
8 |
|
— |
|
137 |
| |||||
|
Total |
|
$ |
1,805 |
|
$ |
35 |
|
$ |
19 |
|
$ |
— |
|
$ |
1,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
15.1 |
% |
|
|
|
|
|
|
15.5 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income, Net |
|
$ |
63 |
|
$ |
— |
|
$ |
— |
|
$ |
(39 |
) |
$ |
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax Expense |
|
$ |
(146 |
) |
$ |
(7 |
) |
$ |
(4 |
) |
$ |
(239 |
) |
$ |
(396 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
1,614 |
|
$ |
28 |
|
$ |
15 |
|
$ |
(278 |
) |
$ |
1,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
3.87 |
|
$ |
0.07 |
|
$ |
0.04 |
|
$ |
(0.67 |
) |
$ |
3.31 |
|
(1) Includes $31 million of acquisition and integration costs and $4 million of non-cash amortization associated with fair value adjustments primarily related to acquired inventories and customer order backlog recorded in cost of sales.
(2) Includes income tax benefits of $282 million recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards and income tax expense related to adjustments to prior year income tax returns. In addition, other income includes amounts related to reimbursements by Tyco International and Covidien in connection with pre-separation tax matters, including $18 million related to our share of a settlement agreement entered into by Tyco International with a former subsidiary.
(3) See description of non-GAAP measures contained in this Form 8-K.
TE CONNECTIVITY LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 27, 2013
(UNAUDITED)
|
|
|
|
|
Adjustments |
|
|
| |||||||||
|
|
|
|
|
Acquisition |
|
Restructuring |
|
|
|
|
| |||||
|
|
|
|
|
Related |
|
and Other |
|
Tax |
|
Adjusted |
| |||||
|
|
|
U.S. GAAP |
|
Charges |
|
Charges, Net |
|
Items (1) |
|
(Non-GAAP) (2) |
| |||||
|
|
|
($ in millions, except per share data) |
| |||||||||||||
|
Operating Income: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Transportation Solutions |
|
$ |
934 |
|
$ |
7 |
|
$ |
39 |
|
$ |
— |
|
$ |
980 |
|
|
Industrial Solutions |
|
344 |
|
7 |
|
63 |
|
— |
|
414 |
| |||||
|
Communications Solutions |
|
107 |
|
— |
|
120 |
|
— |
|
227 |
| |||||
|
Total |
|
$ |
1,385 |
|
$ |
14 |
|
$ |
222 |
|
$ |
— |
|
$ |
1,621 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Operating Margin |
|
12.2 |
% |
|
|
|
|
|
|
14.2 |
% | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Other Income (Expense), Net |
|
$ |
(183 |
) |
$ |
— |
|
$ |
— |
|
$ |
213 |
|
$ |
30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income Tax (Expense) Benefit |
|
$ |
75 |
|
$ |
(5 |
) |
$ |
(62 |
) |
$ |
(354 |
) |
$ |
(346 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Income from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
1,154 |
|
$ |
9 |
|
$ |
160 |
|
$ |
(141 |
) |
$ |
1,182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Diluted Earnings per Share from Continuing Operations Attributable to TE Connectivity Ltd. |
|
$ |
2.73 |
|
$ |
0.02 |
|
$ |
0.38 |
|
$ |
(0.33 |
) |
$ |
2.79 |
|
(1) Includes $331 million of income tax benefits associated with the settlement of an audit of prior year income tax returns as well as the related impact of $231 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien. Also includes income tax expense related to adjustments to prior year income tax returns, income tax benefits recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards, and income tax benefits recognized in connection with the lapse of statutes of limitations for examinations of prior year income tax returns. In addition, the other income adjustment includes amounts related to reimbursements by Tyco International and Covidien in connection with pre-separation tax matters.
(2) See description of non-GAAP measures contained in this Form 8-K.