$TEL
TE Connectivity plc

2021 Q1 Form 10-Q Financial Statement

#000155837021004696 Filed on April 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.738B $3.195B
YoY Change 17.0% -6.36%
Cost Of Revenue $2.528B $2.166B
YoY Change 16.71% -5.58%
Gross Profit $1.210B $1.029B
YoY Change 17.59% -7.96%
Gross Profit Margin 32.37% 32.21%
Selling, General & Admin $401.0M $352.0M
YoY Change 13.92% -5.63%
% of Gross Profit 33.14% 34.21%
Research & Development $174.0M $158.0M
YoY Change 10.13% -4.82%
% of Gross Profit 14.38% 15.35%
Depreciation & Amortization $193.0M $180.0M
YoY Change 7.22% 4.05%
% of Gross Profit 15.95% 17.49%
Operating Expenses $401.0M $352.0M
YoY Change 13.92% -5.63%
Operating Profit $612.0M -$415.0M
YoY Change -247.47% -178.3%
Interest Expense $13.00M $11.00M
YoY Change 18.18% -26.67%
% of Operating Profit 2.12%
Other Income/Expense, Net $4.000M $11.00M
YoY Change -63.64% 1000.0%
Pretax Income $611.0M -$410.0M
YoY Change -249.02% -178.85%
Income Tax $106.0M $42.00M
% Of Pretax Income 17.35%
Net Earnings $506.0M -$456.0M
YoY Change -210.96% -203.87%
Net Earnings / Revenue 13.54% -14.27%
Basic Earnings Per Share $1.53 -$1.37
Diluted Earnings Per Share $1.51 -$1.37
COMMON SHARES
Basic Shares Outstanding 331.0M 334.0M
Diluted Shares Outstanding 334.0M 334.0M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.748B $796.0M
YoY Change 119.6% 40.88%
Cash & Equivalents $1.748B $796.0M
Short-Term Investments
Other Short-Term Assets $619.0M $457.0M
YoY Change 35.45% 2.01%
Inventory $2.134B $2.001B
Prepaid Expenses
Receivables $2.921B $2.461B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.422B $5.715B
YoY Change 29.87% 4.94%
LONG-TERM ASSETS
Property, Plant & Equipment $3.662B $3.558B
YoY Change 2.92% -1.06%
Goodwill $5.342B $5.235B
YoY Change 2.04%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $789.0M $930.0M
YoY Change -15.16% -68.98%
Total Long-Term Assets $13.55B $13.65B
YoY Change -0.78% -1.19%
TOTAL ASSETS
Total Short-Term Assets $7.422B $5.715B
Total Long-Term Assets $13.55B $13.65B
Total Assets $20.97B $19.37B
YoY Change 8.26% 0.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.793B $1.390B
YoY Change 28.99% -6.4%
Accrued Expenses $2.327B $1.966B
YoY Change 18.36% 11.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $919.0M $603.0M
YoY Change 52.4% -1.47%
Total Short-Term Liabilities $5.039B $3.959B
YoY Change 27.28% 2.38%
LONG-TERM LIABILITIES
Long-Term Debt $3.602B $3.752B
YoY Change -4.0% 11.34%
Other Long-Term Liabilities $827.0M $772.0M
YoY Change 7.12% -57.93%
Total Long-Term Liabilities $4.429B $4.524B
YoY Change -2.1% -13.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.039B $3.959B
Total Long-Term Liabilities $4.429B $4.524B
Total Liabilities $11.18B $10.20B
YoY Change 9.69% 10.01%
SHAREHOLDERS EQUITY
Retained Earnings $10.54B $11.12B
YoY Change -5.22%
Common Stock $149.0M $154.0M
YoY Change -3.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $775.0M $1.639B
YoY Change -52.72%
Treasury Stock Shares $8.520M $19.88M
Shareholders Equity $9.669B $9.066B
YoY Change
Total Liabilities & Shareholders Equity $20.97B $19.37B
YoY Change 8.26% 0.55%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $506.0M -$456.0M
YoY Change -210.96% -203.87%
Depreciation, Depletion And Amortization $193.0M $180.0M
YoY Change 7.22% 4.05%
Cash From Operating Activities $580.0M $481.0M
YoY Change 20.58% -13.49%
INVESTING ACTIVITIES
Capital Expenditures -$142.0M -$133.0M
YoY Change 6.77% -30.37%
Acquisitions
YoY Change
Other Investing Activities $65.00M -$245.0M
YoY Change -126.53% -1042.31%
Cash From Investing Activities -$77.00M -$378.0M
YoY Change -79.63% 129.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 151.0M -31.00M
YoY Change -587.1% -90.69%
NET CHANGE
Cash From Operating Activities 580.0M 481.0M
Cash From Investing Activities -77.00M -378.0M
Cash From Financing Activities 151.0M -31.00M
Net Change In Cash 654.0M 72.00M
YoY Change 808.33% 24.14%
FREE CASH FLOW
Cash From Operating Activities $580.0M $481.0M
Capital Expenditures -$142.0M -$133.0M
Free Cash Flow $722.0M $614.0M
YoY Change 17.59% -17.8%

Facts In Submission

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dei Entity Registrant Name
EntityRegistrantName
TE CONNECTIVITY LTD.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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Mühlenstrasse 26
dei Entity Address Postal Zip Code
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CH-8200
dei Entity Address City Or Town
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dei Entity Address Country
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dei Country Region
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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Common Shares, Par Value CHF 0.57
dei Trading Symbol
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TEL
dei Security Exchange Name
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
333000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
334000000
CY2021Q1 tel Treasury Stock Shares Approved For Retirement
TreasuryStockSharesApprovedForRetirement
3000000
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.48
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.46
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.96
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.92
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.00
CY2021Q1 tel Number Of Quarterly Dividend Installments
NumberOfQuarterlyDividendInstallments
4
CY2021Q1 tel Dividends Per Share Payable Installment
DividendsPerSharePayableInstallment
0.50
CY2021Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
661000000
CY2020Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
317000000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3738000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5000000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
309000000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
423000000
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
686000000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30000000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37000000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
151000000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
13000000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3738000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3195000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7260000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6363000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3195000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7260000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6363000000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
612000000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-415000000
us-gaap Operating Income Loss
OperatingIncomeLoss
1060000000
us-gaap Operating Income Loss
OperatingIncomeLoss
56000000

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