v3.26.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Information
Segment Net Sales, Significant Segment Expenses and Segment Adjusted Operating EBITDAThree Months Ended June 30,
20262025
Semiconductor TechnologiesInterconnect SolutionsSemiconductor TechnologiesInterconnect Solutions
(In millions)
Segment net sales$744 $685 $644 $526 
Less 1:
Cost of sales$380 $381 $324 $306 
Selling, general and administrative expenses86 94 69 72 
Research and development expenses62 37 56 31 
Amortization of intangibles & other segment items 2
11 35 13 37 
Add:
Equity in earnings of nonconsolidated affiliates$12 $(1)$13 $— 
Depreciation and amortization 3
36 60 31 57 
Segment Adjusted Operating EBITDA$253 $197 $226 $137 
Segment Net Sales, Significant Segment Expenses and Segment Adjusted Operating EBITDASix Months Ended June 30,
20262025
Semiconductor TechnologiesInterconnect SolutionsSemiconductor TechnologiesInterconnect Solutions
(In millions)
Segment net sales$1,466 $1,278 $1,288 $1,000 
Less 1:
Cost of sales$739 $716 $631 $586 
Selling, general and administrative expenses160 174 133 138 
Research and development expenses122 70 109 62 
Amortization of intangibles & other segment items 2
24 72 26 79 
Add:
Equity in earnings of nonconsolidated affiliates$25 $(1)$24 $(2)
Depreciation and amortization 3
70 121 60 118 
Segment Adjusted Operating EBITDA$516 $366 $473 $251 
1.The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
2.Other segment items include immaterial other gains or losses and miscellaneous income and expenses.
3.Depreciation is a reconciling item to Segment Adjusted Operating EBITDA as it is included within "Cost of sales", "Selling, general and administrative expenses" and "Research and development expenses".
Schedule of Reconciliation of Income from Continuing Operations
Reconciliation of Segment Adjusted Operating EBITDA to Income Before Income TaxesThree Months Ended June 30,Six Months Ended June 30,
In millions2026202520262025
Semiconductor Technologies Segment Adjusted Operating EBITDA$253 $226 $516 $473 
Interconnect Solutions Segment Adjusted Operating EBITDA197 137 366 251 
Total Segment Adjusted Operating EBITDA$450 $363 $882 $724 
+
Corporate Adjusted Operating EBITDA 1
$(19)$(9)$(40)$(15)
-Depreciation and amortization97 92 195 186 
+
Interest income 2, 3
4 — 7 — 
-Interest expense61 — 122 — 
+
Non-operating pension credits 3
1 — 2 — 
+
Foreign exchange (losses) gains - net 3
— (5)(7)(5)
+
Indirect legacy (costs) benefits - net 3
(42)— (45)— 
+Significant items charge(37)(2)(65)(17)
Income before income taxes$199 $255 $417 $501 
1.Corporate includes certain enterprise and governance activities including non-allocated corporate overhead costs and support functions, leveraged services, and other costs not absorbed by reportable segments.
2.The six months ended June 30, 2025 excludes accrued interest income earned on employee retention credits.
3.Included in "Other income (expense) - net."
Capital Expenditure Reconciliation to Unaudited Interim Consolidated Financial StatementsThree Months Ended June 30,Six Months Ended June 30,
In millions2026202520262025
Semiconductor Technologies$76 $33 $125 $57 
Interconnect Solutions27 24 41 44 
Corporate14 5 25 8 
Segment and Corporate Totals$117 $62 $191 $109 
Accrual to cash adjustment 1
(27)(13)21 44 
Total$90 $49 $212 $153 
1.Reflects the incremental cash spent or unpaid on capital expenditures; total capital expenditures are presented on a cash basis.
Schedule of Pre-Tax Impact Of Significant Items by Segment
The following tables summarize the pre-tax impact of significant items by segment that are excluded from Adjusted Operating EBITDA above:
Significant Items by Segment for the Three Months Ended June 30, 2026
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(4)$(3)$(35)$(42)
Gain on sale of assets 2
— — 5 5 
Total$(4)$(3)$(30)$(37)
1. See Note 4 for additional information.
2. The gain on sale of assets was attributable to the sale of land during the three months ended June 30, 2026.
Significant Items by Segment for the Three Months Ended June 30, 2025
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(1)$— $(1)$(2)
Total$(1)$— $(1)$(2)
1. See Note 4 for additional information.
Significant Items by Segment for the Six Months Ended June 30, 2026
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(4)$(2)$(64)$(70)
Gain on sale of assets 2
— — 5 5 
Total$(4)$(2)$(59)$(65)
1. See Note 4 for additional information.
2. The gain on sale of assets was attributable to the sale of land during the six months ended June 30, 2026.
Significant Items by Segment for the Six Months Ended June 30, 2025
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(3)$(4)$(12)$(19)
Employee Retention Credit 2
1 — 1 2 
Total$(2)$(4)$(11)$(17)
1. See Note 4 for additional information.
2. Reflects the accrued interest earned on employee retention credits and is recorded in “Interest income” within the “Other income (expense) - net” line item in the Company’s unaudited interim Consolidated Statements of Operations
Schedule of Total Asset Reconciliation
Segment and Corporate InformationSemiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
As of June 30, 2026
Total Assets$7,194 $5,689 $1,448 $14,331 
Investment in nonconsolidated affiliates$400 $10 $— $410 
As of December 31, 2025
Total Assets$7,022 $5,594 $1,454 $14,070 
Investment in nonconsolidated affiliates$375 $11 $— $386