v3.26.3
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Information
Segment Net Sales, Significant Segment Expenses and Segment Adjusted Operating EBITDAThree Months Ended September 30,
20262025
Semiconductor TechnologiesInterconnect SolutionsSemiconductor TechnologiesInterconnect Solutions
(In millions)
Segment net sales$797 $759 $693 $583 
Less 1:
Cost of sales$397 $415 $360 $341 
Selling, general and administrative expenses87 94 69 77 
Research and development expenses66 40 58 34 
Amortization of intangibles & other segment items 2
13 36 11 37 
Add:
Equity in earnings of nonconsolidated affiliates$14 $1 $14 $1 
Depreciation and amortization 3
37 61 31 57 
Segment Adjusted Operating EBITDA$285 $236 $240 $152 
Segment Net Sales, Significant Segment Expenses and Segment Adjusted Operating EBITDANine Months Ended September 30,
20262025
Semiconductor TechnologiesInterconnect SolutionsSemiconductor TechnologiesInterconnect Solutions
(In millions)
Segment net sales$2,262 $2,038 $1,981 $1,583 
Less 1:
Cost of sales$1,136 $1,131 $991 $927 
Selling, general and administrative expenses247 268 202 215 
Research and development expenses188 110 167 96 
Amortization of intangibles & other segment items 2
36 109 37 116 
Add:
Equity in earnings of nonconsolidated affiliates$39 $— $38 $(1)
Depreciation and amortization 3
107 182 91 175 
Segment Adjusted Operating EBITDA$801 $602 $713 $403 
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 September 30,Nine Months Ended September 30,
In millions2026202520262025
Semiconductor Technologies Segment Adjusted Operating EBITDA$285 $240 $801 $713 
Interconnect Solutions Segment Adjusted Operating EBITDA236 152 602 403 
Total Segment Adjusted Operating EBITDA$521 $392 $1,403 $1,116 
+
Corporate Adjusted Operating EBITDA 1
$(18)$(10)$(58)$(25)
-Depreciation and amortization98 94 293 280 
+
Interest income 2, 3
4 — 11 — 
-Interest expense64 14 186 14 
+
Non-operating pension credits (costs) 3
1 (2)3 (2)
+
Foreign exchange (losses) gains - net 3
(5)1 (12)(4)
+
Indirect legacy (costs) benefits - net 3
(39)— (84)— 
+Significant items charge(55)(1)(120)(18)
Income before income taxes$247 $272 $664 $773 
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 nine months ended September 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 September 30,Nine Months Ended September 30,
In millions2026202520262025
Semiconductor Technologies$49 $37 $174 $94 
Interconnect Solutions38 25 79 69 
Corporate9 6 34 14 
Segment and Corporate Totals$96 $68 $287 $177 
Accrual to cash adjustment 1
(18)(7)3 37 
Total$78 $61 $290 $214 
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 September 30, 2026
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(2)$(1)$(50)$(53)
Debt repricing fees 2
— — (2)(2)
Total$(2)$(1)$(52)$(55)
1. See Note 4 for additional information.
2. Reflects fees and charges incurred in connection with the July 2026 repricing amendment to the Senior Secured Term Loan Facility.
Significant Items by Segment for the Three Months Ended September 30, 2025
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$— $— $(1)$(1)
Total$— $— $(1)$(1)
1. See Note 4 for additional information.
Significant Items by Segment for the Nine Months Ended September 30, 2026
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(6)$(3)$(114)$(123)
Gain on sale of assets 2
— — 5 5 
Debt repricing fees 3
— — (2)(2)
Total$(6)$(3)$(111)$(120)
1. See Note 4 for additional information.
2. The gain on sale of assets was attributable to the sale of land during the nine months ended September 30, 2026.
3. Reflects fees and charges incurred in connection with the July 2026 repricing amendment to the Senior Secured Term Loan Facility.
Significant Items by Segment for the Nine Months Ended September 30, 2025
Semiconductor TechnologiesInterconnect SolutionsCorporateTotal
In millions
Transformation, integration, and other charges 1
$(3)$(4)$(13)$(20)
Employee Retention Credit 2
2 — — 2 
Total$(1)$(4)$(13)$(18)
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 September 30, 2026
Total Assets$7,283 $5,775 $1,659 $14,717 
Investment in nonconsolidated affiliates$415 $11 $— $426 
As of December 31, 2025
Total Assets$7,022 $5,594 $1,454 $14,070 
Investment in nonconsolidated affiliates$375 $11 $— $386