.4
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 26, 2025
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 465 | | | $ | — | | $ | 3 | | $ | 19 | | $ | — | | $ | 487 | |
Industrial Solutions | | 451 | | | | 10 | | | 14 | | | 39 | | | — | | | 514 | |
Total | $ | 916 | | | $ | 10 | | $ | 17 | | $ | 58 | | $ | — | | $ | 1,001 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 19.3 | % | | | | | | | | | | | | | | | 21.1 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax expense | $ | (233) | | | $ | (2) | | $ | 6 | | $ | (11) | | $ | 31 | | $ | (209) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | 26.0 | % | | | | | | | | | | | | | | | 21.3 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 664 | | | $ | 8 | | $ | 23 | | $ | 47 | | $ | 31 | | $ | 773 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 2.23 | | | $ | 0.03 | | $ | 0.08 | | $ | 0.16 | | $ | 0.10 | | $ | 2.59 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Represents income tax expense of $44 million related to an increase in the valuation allowance for certain U.S. tax loss and credit carryforwards and an income tax benefit of $13 million related to the revaluation of deferred tax liabilities as a result of a decrease in the corporate tax rate in a non-U.S. jurisdiction. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended June 27, 2025
(UNAUDITED)
| | | | | Adjustments | | | | | |||||||
| | | | Acquisition- | | Restructuring | | | | | | |||||
| | | | Related | | and Other | | Amortization | | Adjusted | | |||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | (Non-GAAP) (2) | | |||||
| ($ in millions, except per share data) | | ||||||||||||||
Operating income: | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 462 | | | $ | — | | $ | 7 | | $ | 17 | | $ | 486 | |
Industrial Solutions | | 395 | | | | 30 | | | 7 | | | 35 | | | 467 | |
Total | $ | 857 | | | $ | 30 | | $ | 14 | | $ | 52 | | $ | 953 | |
| | | | | | | | | | | | | | | | |
Operating margin | | 18.9 | % | | | | | | | | | | | | 21.0 | % |
| | | | | | | | | | | | | | | | |
Income tax expense | $ | (208) | | | $ | (7) | | $ | 1 | | $ | (11) | | $ | (225) | |
| | | | | | | | | | | | | | | | |
Effective tax rate | | 24.6 | % | | | | | | | | | | | | 23.9 | % |
| | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 638 | | | $ | 23 | | $ | 15 | | $ | 41 | | $ | 717 | |
| | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 2.14 | | | $ | 0.08 | | $ | 0.05 | | $ | 0.14 | | $ | 2.41 | |
| | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | |||||||||||||||
(2) See description of non-GAAP financial measures effective for fiscal 2026. | | |||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended March 28, 2025
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 445 | | | $ | — | | $ | 33 | | $ | 17 | | $ | — | | $ | 495 | |
Industrial Solutions | | 303 | | | | 12 | | | 12 | | | 24 | | | — | | | 351 | |
Total | $ | 748 | | | $ | 12 | | $ | 45 | | $ | 41 | | $ | — | | $ | 846 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 18.1 | % | | | | | | | | | | | | | | | 20.4 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax expense | $ | (742) | | | $ | (2) | | $ | (11) | | $ | (8) | | $ | 574 | | $ | (189) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | 98.3 | % | | | | | | | | | | | | | | | 22.2 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 13 | | | $ | 10 | | $ | 34 | | $ | 33 | | $ | 574 | | $ | 664 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 0.04 | | | $ | 0.03 | | $ | 0.11 | | $ | 0.11 | | $ | 1.91 | | $ | 2.21 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Represents income tax expense related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 27, 2024
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 446 | | | $ | — | | $ | 32 | | $ | 17 | | $ | — | | $ | 495 | |
Industrial Solutions | | 244 | | | | 5 | | | 18 | | | 22 | | | — | | | 289 | |
Total | $ | 690 | | | $ | 5 | | $ | 50 | | $ | 39 | | $ | — | | $ | 784 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 18.0 | % | | | | | | | | | | | | | | | 20.4 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax expense | $ | (178) | | | $ | (1) | | $ | (9) | | $ | (7) | | $ | 13 | | $ | (182) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | 25.2 | % | | | | | | | | | | | | | | | 22.8 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 528 | | | $ | 4 | | $ | 41 | | $ | 32 | | $ | 13 | | $ | 618 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 1.75 | | | $ | 0.01 | | $ | 0.14 | | $ | 0.11 | | $ | 0.04 | | $ | 2.05 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Represents income tax expense related to the revaluation of deferred tax assets as a result of a decrease in the corporate tax rate in a non-U.S. jurisdiction. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 27, 2024
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 410 | | | $ | — | | $ | 42 | | $ | 17 | | $ | — | | $ | 469 | |
Industrial Solutions | | 241 | | | | 5 | | | 57 | | | 23 | | | — | | | 326 | |
Total | $ | 651 | | | $ | 5 | | $ | 99 | | $ | 40 | | $ | — | | $ | 795 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 16.0 | % | | | | | | | | | | | | | | | 19.5 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax expense | $ | (381) | | | $ | (1) | | $ | (22) | | $ | (8) | | $ | 238 | | $ | (174) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | 58.0 | % | | | | | | | | | | | | | | | 21.7 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 276 | | | $ | 4 | | $ | 77 | | $ | 32 | | $ | 238 | | $ | 627 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 0.90 | | | $ | 0.01 | | $ | 0.25 | | $ | 0.10 | | $ | 0.78 | | $ | 2.06 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Represents income tax expense related to an increase in the valuation allowance for deferred tax assets of a Swiss subsidiary. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended June 28, 2024
(UNAUDITED)
| | | | | Adjustments | | | | | |||||||
| | | | Acquisition- | | Restructuring | | | | | | |||||
| | | | Related | | and Other | | Amortization | | Adjusted | | |||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | (Non-GAAP) (2) | | |||||
| ($ in millions, except per share data) | | ||||||||||||||
Operating income: | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 506 | | | $ | — | | $ | (8) | | $ | 18 | | $ | 516 | |
Industrial Solutions | | 249 | | | | 5 | | | 14 | | | 23 | | | 291 | |
Total | $ | 755 | | | $ | 5 | | $ | 6 | | $ | 41 | | $ | 807 | |
| | | | | | | | | | | | | | | | |
Operating margin | | 19.0 | % | | | | | | | | | | | | 20.3 | % |
| | | | | | | | | | | | | | | | |
Income tax expense | $ | (181) | | | $ | — | | $ | 4 | | $ | (8) | | $ | (185) | |
| | | | | | | | | | | | | | | | |
Effective tax rate | | 24.0 | % | | | | | | | | | | | | 23.0 | % |
| | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 573 | | | $ | 5 | | $ | 10 | | $ | 33 | | $ | 621 | |
| | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 1.86 | | | $ | 0.02 | | $ | 0.03 | | $ | 0.11 | | $ | 2.02 | |
| | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | |||||||||||||||
(2) See description of non-GAAP financial measures effective for fiscal 2026. | | |||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended March 29, 2024
(UNAUDITED)
| | | | | Adjustments | | | | | |||||||
| | | | Acquisition- | | Restructuring | | | | | | |||||
| | | | Related | | and Other | | Amortization | | Adjusted | | |||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | (Non-GAAP) (2) | | |||||
| ($ in millions, except per share data) | | ||||||||||||||
Operating income: | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 477 | | | $ | — | | $ | 19 | | $ | 18 | | $ | 514 | |
Industrial Solutions | | 215 | | | | 3 | | | 21 | | | 25 | | | 264 | |
Total | $ | 692 | | | $ | 3 | | $ | 40 | | $ | 43 | | $ | 778 | |
| | | | | | | | | | | | | | | | |
Operating margin | | 17.4 | % | | | | | | | | | | | | 19.6 | % |
| | | | | | | | | | | | | | | | |
Income tax expense | $ | (146) | | | $ | (1) | | $ | (6) | | $ | (8) | | $ | (161) | |
| | | | | | | | | | | | | | | | |
Effective tax rate | | 21.3 | % | | | | | | | | | | | | 20.8 | % |
| | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 541 | | | $ | 2 | | $ | 34 | | $ | 35 | | $ | 612 | |
| | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 1.75 | | | $ | 0.01 | | $ | 0.11 | | $ | 0.11 | | $ | 1.97 | |
| | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | |||||||||||||||
(2) See description of non-GAAP financial measures effective for fiscal 2026. | | |||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 29, 2023
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 487 | | | $ | — | | $ | 14 | | $ | 18 | | $ | 3 | | $ | 522 | |
Industrial Solutions | | 211 | | | | 8 | | | 7 | | | 24 | | | 1 | | | 251 | |
Total | $ | 698 | | | $ | 8 | | $ | 21 | | $ | 42 | | $ | 4 | | $ | 773 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 18.2 | % | | | | | | | | | | | | | | | 20.2 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax (expense) benefit | $ | 1,105 | | | $ | (1) | | $ | (5) | | $ | (8) | | $ | (1,254) | | $ | (163) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | (158.1) | % | | | | | | | | | | | | | | | 21.1 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 1,804 | | | $ | 7 | | $ | 16 | | $ | 34 | | $ | (1,250) | | $ | 611 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 5.76 | | | $ | 0.02 | | $ | 0.05 | | $ | 0.11 | | $ | (3.99) | | $ | 1.95 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Includes an $874 million net income tax benefit associated with a ten-year tax credit obtained by a Swiss subsidiary and a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland. Also includes a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 26, 2025
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 1,818 | | | $ | — | | $ | 75 | | $ | 70 | | $ | — | | $ | 1,963 | |
Industrial Solutions | | 1,393 | | | | 57 | | | 51 | | | 120 | | | — | | | 1,621 | |
Total | $ | 3,211 | | | $ | 57 | | $ | 126 | | $ | 190 | | $ | — | | $ | 3,584 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 18.6 | % | | | | | | | | | | | | | | | 20.8 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax expense | $ | (1,361) | | | $ | (12) | | $ | (13) | | $ | (37) | | $ | 618 | | $ | (805) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | 42.5 | % | | | | | | | | | | | | | | | 22.5 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 1,843 | | | $ | 45 | | $ | 113 | | $ | 153 | | $ | 618 | | $ | 2,772 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 6.16 | | | $ | 0.15 | | $ | 0.38 | | $ | 0.51 | | $ | 2.07 | | $ | 9.27 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Represents income tax expense of $574 million related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024 as well as income tax expense of $44 million related to an increase in the valuation allowance for certain U.S. tax loss and credit carryforwards. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 27, 2024
(UNAUDITED)
| | | | | Adjustments | | | | | ||||||||||
| | | | Acquisition- | | Restructuring | | | | | | | | ||||||
| | | | Related | | and Other | | Amortization | | | | Adjusted | | ||||||
| U.S. GAAP | | | Charges (1) | | Charges, Net (1) | | Expense (1) | | Tax Items (2) | | (Non-GAAP) (3) | | ||||||
| ($ in millions, except per share data) | | |||||||||||||||||
Operating income: | | | | | | | | | | | | | | | | | | | |
Transportation Solutions | $ | 1,880 | | | $ | — | | $ | 67 | | $ | 71 | | $ | 3 | | $ | 2,021 | |
Industrial Solutions | | 916 | | | | 21 | | | 99 | | | 95 | | | 1 | | | 1,132 | |
Total | $ | 2,796 | | | $ | 21 | | $ | 166 | | $ | 166 | | $ | 4 | | $ | 3,153 | |
| | | | | | | | | | | | | | | | | | | |
Operating margin | | 17.6 | % | | | | | | | | | | | | | | | 19.9 | % |
| | | | | | | | | | | | | | | | | | | |
Income tax (expense) benefit | $ | 397 | | | $ | (3) | | $ | (29) | | $ | (32) | | $ | (1,016) | | $ | (683) | |
| | | | | | | | | | | | | | | | | | | |
Effective tax rate | | (14.2) | % | | | | | | | | | | | | | | | 21.7 | % |
| | | | | | | | | | | | | | | | | | | |
Income from continuing operations | $ | 3,194 | | | $ | 18 | | $ | 137 | | $ | 134 | | $ | (1,012) | | $ | 2,471 | |
| | | | | | | | | | | | | | | | | | | |
Diluted earnings per share from continuing operations | $ | 10.34 | | | $ | 0.06 | | $ | 0.44 | | $ | 0.43 | | $ | (3.28) | | $ | 8.00 | |
| | | | | | | | | | | | | | | | | | | |
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. | | ||||||||||||||||||
(2) Includes a $636 million net income tax benefit associated with a $972 million ten-year tax credit obtained by a Swiss subsidiary reduced by a $336 million valuation allowance related to the amount of the tax credit not expected to be realized. Also includes a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland and a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes. | | ||||||||||||||||||
(3) See description of non-GAAP financial measures effective for fiscal 2026. | | ||||||||||||||||||