June 30,
2021 December 31,
2020
Assets
Current assets:
Cash and cash equivalents $ 1,861,769 $ 1,861,980
Accounts receivable, net of allowances of $20,223 and $19,033 as of June 30, 2021 and December 31, 2020, respectively 694,317 576,647
Inventories 503,641 451,005
Prepaid expenses and other current assets 117,401 90,340
Total current assets 3,177,128 2,979,972
Property, plant and equipment, net 801,342 803,825
Goodwill 3,308,939 3,111,349
Other intangible assets, net of accumulated amortization of $2,211,355 and $2,145,634 as of June 30, 2021 and December 31, 2020, respectively 892,521 691,549
Deferred income tax assets 79,625 84,785
Other assets 158,803 172,722
Total assets $ 8,418,358 $ 7,844,202
Liabilities and shareholders’ equity
Current liabilities:
Current portion of long-term debt, finance lease and other financing obligations $ 7,281 $ 757,205
Accounts payable 473,932 393,907
Income taxes payable 25,663 19,215
Accrued expenses and other current liabilities 330,056 324,830
Total current liabilities 836,932 1,495,157
Deferred income tax liabilities 301,471 259,857
Pension and other post-retirement benefit obligations 44,146 48,002
Finance lease and other financing obligations, less current portion 27,220 27,931
Long-term debt, net 4,213,830 3,213,747
Other long-term liabilities 81,311 94,022
Total liabilities 5,504,910 5,138,716
Commitments and contingencies (Note 12) 0 0
Shareholders’ equity:
Ordinary shares, €0.01 nominal value per share, 177,069 shares authorized, and 174,005 and 173,266 shares issued as of June 30, 2021 and December 31, 2020, respectively 2,229 2,220
Treasury shares, at cost, 15,631 shares as of June 30, 2021 and December 31, 2020 (784,596) (784,596)
Additional paid-in capital 1,789,863 1,759,668
Retained earnings 1,936,427 1,777,729
Accumulated other comprehensive loss (30,475) (49,535)
Total shareholders’ equity 2,913,448 2,705,486
Total liabilities and shareholders’ equity $ 8,418,358 $ 7,844,202


	March 31, 2022		December 31, 2021
Assets
Current assets:
Cash and cash equivalents	$	1,608,481	$	1,708,955
Accounts receivable, net of allowances of $28,001 and $17,003 as of March 31, 2022 and December 31, 2021, respectively	693,568		653,438
Inventories	641,709		588,231
Prepaid expenses and other current assets	146,342		126,370
Total current assets	3,090,100		3,076,994
Property, plant and equipment, net	822,633		820,933
Goodwill	3,555,369		3,502,063
Other intangible assets, net of accumulated amortization of $2,314,755 and $2,277,393 as of March 31, 2022 and December 31, 2021, respectively	907,315		946,731
Deferred income tax assets	104,226		105,028
Other assets	131,745		162,017
Total assets	$	8,611,388	$	8,613,766
Liabilities and shareholders' equity
Current liabilities:
Current portion of long-term debt, finance lease and other financing obligations	$	6,694	$	6,833
Accounts payable	486,432		459,093
Income taxes payable	19,249		26,517
Accrued expenses and other current liabilities	327,670		343,816
Total current liabilities	840,045		836,259
Deferred income tax liabilities	339,332		339,273
Pension and other post-retirement benefit obligations	39,089		38,758
Finance lease and other financing obligations, less current portion	26,347		26,564
Long-term debt, net	4,215,505		4,214,946
Other long-term liabilities	78,753		63,232
Total liabilities	5,539,071		5,519,032
Commitments and contingencies (Note 12)	0		0
Shareholders’ equity:
Ordinary shares, €0.01 nominal value per share, 177,069 shares authorized, and 174,583 and 174,287 shares issued as of March 31, 2022 and December 31, 2021, respectively	2,236		2,232
Treasury shares, at cost, 17,576 and 16,438 shares as of March 31, 2022 and December 31, 2021, respectively	(899,697)		(832,439)
Additional paid-in capital	1,831,497		1,812,244
Retained earnings	2,154,563		2,132,257
Accumulated other comprehensive loss	(16,282)		(19,560)


Total shareholders' equity	3,072,317		3,094,734
Total liabilities and shareholders' equity	$	8,611,388	$	8,613,766


		For the three months ended				For the six months ended					For the three months ended
		June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020			March 31, 2022		March 31, 2021
Net revenue	Net revenue	$	992,660	$	576,505	$	1,935,188	$	1,350,774	Net revenue	$	975,770	$	942,528
Operating costs and expenses:	Operating costs and expenses:									Operating costs and expenses:
Cost of revenue	Cost of revenue	658,285		412,443		1,293,634		978,849		Cost of revenue	657,080		635,349
Research and development	Research and development	42,913		30,239		78,869		64,692		Research and development	45,980		35,956
Selling, general and administrative	Selling, general and administrative	86,821		64,730		163,944		141,951		Selling, general and administrative	95,680		77,123
Amortization of intangible assets	Amortization of intangible assets	34,857		32,743		66,921		65,835		Amortization of intangible assets	37,367		32,064
Restructuring and other charges, net	Restructuring and other charges, net	5,029		38,218		9,611		42,716		Restructuring and other charges, net	13,733		4,582
Total operating costs and expenses	Total operating costs and expenses	827,905		578,373		1,612,979		1,294,043		Total operating costs and expenses	849,840		785,074
Operating income/(loss)		164,755		(1,868)		322,209		56,731
Operating income										Operating income	125,930		157,454
Interest expense, net	Interest expense, net	(45,213)		(40,808)		(89,256)		(80,211)		Interest expense, net	(45,445)		(44,043)
Other, net	Other, net	1,012		1,576		(38,385)		(10,705)		Other, net	(50,456)		(39,397)
Income/(loss) before taxes		120,554		(41,100)		194,568		(34,185)
Provision for/(benefit from) income taxes		7,638		1,441		27,919		(75)
Net income/(loss)		$	112,916	$	(42,541)	$	166,649	$	(34,110)
Basic net income/(loss) per share		$	0.71	$	(0.27)	$	1.05	$	(0.22)
Diluted net income/(loss) per share		$	0.71	$	(0.27)	$	1.05	$	(0.22)
Income before taxes										Income before taxes	30,029		74,014
Provision for income taxes										Provision for income taxes	7,588		20,281
Net income										Net income	$	22,441	$	53,733
Basic net income per share										Basic net income per share	$	0.14	$	0.34
Diluted net income per share										Diluted net income per share	$	0.14	$	0.34

For the three months ended For the six months ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
Net income/(loss) $ 112,916 $ (42,541) $ 166,649 $ (34,110)
Other comprehensive income/(loss):
Cash flow hedges 1,398 (5,167) 15,676 (24,501)
Defined benefit and retiree healthcare plans 1,672 1,672 3,384 5,014
Other comprehensive income/(loss) 3,070 (3,495) 19,060 (19,487)
Comprehensive income/(loss) $ 115,986 $ (46,036) $ 185,709 $ (53,597)


	For the three months ended
	March 31, 2022		March 31, 2021
Net income	$	22,441	$	53,733
Other comprehensive income:
Cash flow hedges	2,850		14,278
Defined benefit and retiree healthcare plans	428		1,712
Other comprehensive income	3,278		15,990
Comprehensive income	$	25,719	$	69,723


		For the six months ended					For the three months ended
		June 30, 2021		June 30, 2020			March 31, 2022		March 31, 2021
Cash flows from operating activities:	Cash flows from operating activities:					Cash flows from operating activities:
Net income/(loss)		$	166,649	$	(34,110)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Net income						Net income	$	22,441	$	53,733
Adjustments to reconcile net income to net cash provided by operating activities:						Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	Depreciation	62,833		65,288		Depreciation	31,531		31,197
Amortization of debt issuance costs	Amortization of debt issuance costs	3,426		3,263		Amortization of debt issuance costs	1,716		1,711

Share-based compensation	Share-based compensation	11,475		9,590		Share-based compensation	6,540		5,099
Loss on debt financing	Loss on debt financing	30,066		0		Loss on debt financing	—		30,066
Amortization of intangible assets	Amortization of intangible assets	66,921		65,835		Amortization of intangible assets	37,367		32,064
Deferred income taxes	Deferred income taxes	(7,070)		1,500		Deferred income taxes	(340)		130
Loss on litigation judgment		0		41,314
Unrealized loss on derivative instruments and other		12,700		8,035
Acquisition-related compensation payments						Acquisition-related compensation payments	(7,500)		—
Mark-to-market loss on equity investments, net						Mark-to-market loss on equity investments, net	59,279		—
Unrealized (gain)/loss on derivative instruments and other						Unrealized (gain)/loss on derivative instruments and other	(517)		8,797
Changes in operating assets and liabilities, net of the effects of acquisitions:	Changes in operating assets and liabilities, net of the effects of acquisitions:					Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, net	Accounts receivable, net	(97,906)		114,162		Accounts receivable, net	(49,821)		(62,198)
Inventories	Inventories	(45,664)		17,871		Inventories	(53,004)		(16,857)
Prepaid expenses and other current assets	Prepaid expenses and other current assets	(8,280)		14,790		Prepaid expenses and other current assets	(8,807)		(4,971)
Accounts payable and accrued expenses	Accounts payable and accrued expenses	68,764		(99,467)		Accounts payable and accrued expenses	13,488		26,409
Income taxes payable	Income taxes payable	6,448		(34,368)		Income taxes payable	(7,268)		2,283
Other	Other	(2,431)		(3,431)		Other	2,250		(2,952)
Net cash provided by operating activities	Net cash provided by operating activities	267,931		170,272		Net cash provided by operating activities	47,355		104,511
Cash flows from investing activities:	Cash flows from investing activities:					Cash flows from investing activities:
Acquisitions, net of cash received	Acquisitions, net of cash received	(421,951)		0		Acquisitions, net of cash received	(48,441)		(20,406)
Additions to property, plant and equipment and capitalized software	Additions to property, plant and equipment and capitalized software	(63,572)		(56,697)		Additions to property, plant and equipment and capitalized software	(35,711)		(27,172)
Investment in debt and equity securities	Investment in debt and equity securities	(6,444)		(5,817)		Investment in debt and equity securities	(6,853)		(1,799)

Other	Other	2,862		2,019		Other	152		340
Net cash used in investing activities	Net cash used in investing activities	(489,105)		(60,495)		Net cash used in investing activities	(90,853)		(49,037)
Cash flows from financing activities:	Cash flows from financing activities:					Cash flows from financing activities:
Proceeds from exercise of stock options and issuance of ordinary shares	Proceeds from exercise of stock options and issuance of ordinary shares	17,957		1,146		Proceeds from exercise of stock options and issuance of ordinary shares	13,348		10,556
Payment of employee restricted stock tax withholdings	Payment of employee restricted stock tax withholdings	(7,948)		(2,314)		Payment of employee restricted stock tax withholdings	(135)		(221)
Proceeds from borrowings on debt	Proceeds from borrowings on debt	1,001,875		400,000		Proceeds from borrowings on debt	—		750,000

Payments on debt	Payments on debt	(757,889)		(4,604)		Payments on debt	(2,931)		(752,753)
Payments to repurchase ordinary shares	Payments to repurchase ordinary shares	0		(35,175)		Payments to repurchase ordinary shares	(67,258)		—
Payments of debt financing costs	Payments of debt financing costs	(33,032)		0		Payments of debt financing costs	—		(31,110)

Net cash provided by financing activities		220,963		359,053
Net cash used in financing activities						Net cash used in financing activities	(56,976)		(23,528)
Net change in cash and cash equivalents	Net change in cash and cash equivalents	(211)		468,830		Net change in cash and cash equivalents	(100,474)		31,946
Cash and cash equivalents, beginning of period		1,861,980		774,119
Cash and cash equivalents, beginning of year						Cash and cash equivalents, beginning of year	1,708,955		1,861,980
Cash and cash equivalents, end of period	Cash and cash equivalents, end of period	$	1,861,769	$	1,242,949	Cash and cash equivalents, end of period	$	1,608,481	$	1,893,926


		Ordinary Shares			Treasury Shares			Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Total Shareholders’ Equity			Ordinary Shares			Treasury Shares			Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Loss			Total Shareholders' Equity
		Number	Amount		Number	Amount											Number	Amount		Number	Amount								Total Shareholders' Equity
Balance as of March 31, 2021		173,533	$	2,223	(15,631)	$	(784,596)	$	1,775,320	$	1,831,241	$	(33,545)	$	2,790,643
Balance as of December 31, 2021																Balance as of December 31, 2021	174,287	$	2,232	(16,438)	$	(832,439)	$	1,812,244	$	2,132,257	$	(19,560)		$	3,094,734
Surrender of shares for tax withholding	Surrender of shares for tax withholding	—	—		(132)	(7,727)		—		—		—		(7,727)		Surrender of shares for tax withholding	—	—		(3)	(135)		—		—		—			(135)
Stock options exercised	Stock options exercised	208	3		—	—		8,167		—		—		8,170		Stock options exercised	290	4		—	—		12,713		—		—			12,717
Vesting of restricted securities	Vesting of restricted securities	396	5		—	—		—		(5)		—		0		Vesting of restricted securities	9	—		—	—		—		—		—			—

Repurchase of ordinary shares																Repurchase of ordinary shares	—	—		(1,138)	(67,258)		—		—		—			(67,258)
Retirement of ordinary shares	Retirement of ordinary shares	(132)	(2)		132	7,727		—		(7,725)		—		0		Retirement of ordinary shares	(3)	—		3	135		—		(135)		—			—
Share-based compensation	Share-based compensation	—	—		—	—		6,376		—		—		6,376		Share-based compensation	—	—		—	—		6,540		—		—			6,540

Net income	Net income	—	—		—	—		—		112,916		—		112,916		Net income	—	—		—	—		—		22,441		—			22,441
Other comprehensive income	Other comprehensive income	—	—		—	—		—		—		3,070		3,070		Other comprehensive income	—	—		—	—		—		—		3,278			3,278
Balance as of June 30, 2021		174,005	$	2,229	(15,631)	$	(784,596)	$	1,789,863	$	1,936,427	$	(30,475)	$	2,913,448
Balance as of March 31, 2022																Balance as of March 31, 2022	174,583	$	2,236	(17,576)	$	(899,697)	$	1,831,497	$	2,154,563	$	(16,282)		$	3,072,317

Ordinary Shares Treasury Shares Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders’ Equity
Number Amount Number Amount
Balance as of December 31, 2020 173,266 $ 2,220 (15,631) $ (784,596) $ 1,759,668 $ 1,777,729 $ (49,535) $ 2,705,486
Surrender of shares for tax withholding — — (136) (7,948) — — — (7,948)
Stock options exercised 467 6 — — 18,720 — — 18,726
Vesting of restricted securities 408 5 — — — (5) — 0
Retirement of ordinary shares (136) (2) 136 7,948 — (7,946) — 0
Share-based compensation — — — — 11,475 — — 11,475
Net income — — — — — 166,649 — 166,649
Other comprehensive income — — — — — — 19,060 19,060
Balance as of June 30, 2021 174,005 $ 2,229 (15,631) $ (784,596) $ 1,789,863 $ 1,936,427 $ (30,475) $ 2,913,448

Ordinary Shares Treasury Shares Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders’ Equity
Number Amount Number Amount
Balance as of March 31, 2020 172,596 $ 2,212 (15,631) $ (784,596) $ 1,731,884 $ 1,624,773 $ (36,476) $ 2,537,797
Surrender of shares for tax withholding — — (83) (2,299) — — — (2,299)
Stock options exercised 21 1 — — 436 — — 437
Vesting of restricted securities 310 3 — — — (3) — 0
Retirement of ordinary shares (83) (1) 83 2,299 — (2,298) — 0
Share-based compensation — — — — 3,506 — — 3,506
Net loss — — — — — (42,541) — (42,541)
Other comprehensive loss — — — — — — (3,495) (3,495)
Balance as of June 30, 2020 172,844 $ 2,215 (15,631) $ (784,596) $ 1,735,826 $ 1,579,931 $ (39,971) $ 2,493,405


																	Ordinary Shares			Treasury Shares			Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Loss			Total Shareholders' Equity
		Ordinary Shares			Treasury Shares			Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Total Shareholders’ Equity			Number	Amount		Number	Amount								Total Shareholders' Equity
		Number	Amount		Number	Amount
Balance as of December 31, 2019		172,561	$	2,212	(14,733)	$	(749,421)	$	1,725,091	$	1,616,357	$	(20,484)	$	2,573,755
Balance as of December 31, 2020																Balance as of December 31, 2020	173,266	$	2,220	(15,631)	$	(784,596)	$	1,759,668	$	1,777,729	$	(49,535)		$	2,705,486
Surrender of shares for tax withholding	Surrender of shares for tax withholding	—	—		(83)	(2,314)		—		—		—		(2,314)		Surrender of shares for tax withholding	—	—		(4)	(221)		—		—		—			(221)
Stock options exercised	Stock options exercised	55	1		—	—		1,145		—		—		1,146		Stock options exercised	259	3		—	—		10,553		—		—			10,556
Vesting of restricted securities	Vesting of restricted securities	311	3		—	—		—		(3)		—		0		Vesting of restricted securities	12	—		—	—		—		—		—			—
Repurchase of ordinary shares		—	—		(898)	(35,175)		—		—		—		(35,175)

Retirement of ordinary shares	Retirement of ordinary shares	(83)	(1)		83	2,314		—		(2,313)		—		0		Retirement of ordinary shares	(4)	—		4	221		—		(221)		—			—
Share-based compensation	Share-based compensation	—	—		—	—		9,590		—		—		9,590		Share-based compensation	—	—		—	—		5,099		—		—			5,099
Net loss		—	—		—	—		—		(34,110)		—		(34,110)
Other comprehensive loss		—	—		—	—		—		—		(19,487)		(19,487)
Balance as of June 30, 2020		172,844	$	2,215	(15,631)	$	(784,596)	$	1,735,826	$	1,579,931	$	(39,971)	$	2,493,405

Net income																Net income	—	—		—	—		—		53,733		—			53,733
Other comprehensive income																Other comprehensive income	—	—		—	—		—		—		15,990			15,990
Balance as of March 31, 2021																Balance as of March 31, 2021	173,533	$	2,223	(15,631)	$	(784,596)	$	1,775,320	$	1,831,241	$	(33,545)		$	2,790,643

The accompanying unaudited condensed consolidated financial statements reflect the financial position, results of operations, comprehensive ~~income/(loss),~~income, cash flows, and changes in shareholders' equity of Sensata Technologies Holding plc, a public limited company incorporated under the laws of England and Wales, and its consolidated subsidiaries, collectively referred to as the "Company," "Sensata," "we," "our," or "us."

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q. Accordingly, these interim financial statements do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The accompanying financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the interim period results. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, ~~2020~~2021 filed with the U.S. Securities and Exchange Commission (the ~~"2020~~"SEC") on February 10, 2022 (the "2021 Annual Report").


		For the three months ended June 30, 2021						For the three months ended June 30, 2020							For the three months ended March 31, 2022						For the three months ended March 31, 2021
		Performance Sensing		Sensing Solutions		Total		Performance Sensing		Sensing Solutions		Total			Performance Sensing		Sensing Solutions		Total		Performance Sensing		Sensing Solutions		Total
Automotive	Automotive	$	518,367	$	12,052	$	530,419	$	286,499	$	7,279	$	293,778	Automotive	$	502,362	$	9,285	$	511,647	$	536,713	$	11,500	$	548,213
HVOR (1)	HVOR (1)	223,485		0		223,485		98,708		0		98,708		HVOR (1)	215,335		—		215,335		177,799		—		177,799
Industrial	Industrial	0		105,474		105,474		0		79,264		79,264		Industrial	—		114,619		114,619		—		90,475		90,475
Appliance and HVAC (2)	Appliance and HVAC (2)	0		63,187		63,187		0		43,689		43,689		Appliance and HVAC (2)	—		58,825		58,825		—		59,916		59,916
Aerospace	Aerospace	0		32,793		32,793		0		27,193		27,193		Aerospace	—		33,270		33,270		—		32,677		32,677
Other	Other	0		37,302		37,302		0		33,873		33,873		Other	—		42,074		42,074		—		33,448		33,448
Total	Total	$	741,852	$	250,808	$	992,660	$	385,207	$	191,298	$	576,505	Total	$	717,697	$	258,073	$	975,770	$	714,512	$	228,016	$	942,528

For the six months ended June 30, 2021 For the six months ended June 30, 2020
Performance Sensing Sensing Solutions Total Performance Sensing Sensing Solutions Total
Automotive $ 1,055,080 $ 23,552 $ 1,078,632 $ 724,202 $ 15,515 $ 739,717
HVOR 401,284 0 401,284 229,694 0 229,694
Industrial 0 195,949 195,949 0 159,863 159,863
Appliance and HVAC 0 123,103 123,103 0 89,085 89,085
Aerospace 0 65,470 65,470 0 69,317 69,317
Other 0 70,750 70,750 0 63,098 63,098
Total $ 1,456,364 $ 478,824 $ 1,935,188 $ 953,896 $ 396,878 $ 1,350,774

At our Annual General Meeting held on May 27, 2021, our shareholders approved the Sensata Technologies Holding plc 2021 Equity Incentive Plan (the "2021 Equity Plan"), which replaced the Sensata Technologies Holding plc First Amended and Restated 2010 Equity Incentive Plan (the "2010 Equity Plan"). The 2021 Equity Plan is substantially similar to the 2010 Equity Plan with some updates based on changes in law and current practices. The purpose of the 2021 Equity Plan is to promote the long-term growth, profitability, and interests of the Company and its shareholders by aiding us in attracting and retaining employees, officers, consultants, advisors, and non-employee directors capable of assuring our future success. All awards granted subsequent to this approval were made under the 2021 Equity Plan.

On June 30, 2020, in response to the potential long-term impact of the global financial and health crisis caused by the coronavirus ("COVID-19") pandemic on our business, we committed to a plan to reorganize our business (the “Q2 2020 Global Restructure Program”), consisting of voluntary and involuntary reductions-in-force and certain site closures. The Q2 2020 Global Restructure Program was commenced in order to align our cost structure to the then anticipated future demand outlook. As of June 30, 2021, we have recorded cumulative costs of $30.1 million over the life of the plan, of which $27.4 million related to severance charges and $2.7 million related to facility and exit costs. We have completed a majority of the actions contemplated under the Q2 2020 Global Restructure Program.

~~Reductions in force under the Q2 2020 Global Restructure Program have impacted approximately~~ ~~560~~ positions as of June 30, 2021. When the remaining contemplated reduction-in-force actions are completed, which is expected in the third quarter of 2021, the total reductions in force are expected to be approximately 840 positions, reflecting total severance charges of between $27.0 million and $29.0 million. In addition, we expect total facility and exit costs incurred over the life of the Q2 2020 Global Restructure Program to be between $6.0 million and $8.0 million. We expect to settle these charges with cash on hand.


	For the three months ended
	March 31, 2022		March 31, 2021
Stock options	$	307	$	460
Restricted securities	6,233		4,639
Share-based compensation expense	$	6,540	$	5,099

Other Charges, ~~recognized in the three and six months ended June 30, 2021 and 2020 resulting from the Q2 2020 Global Restructure Program are presented by impacted segment below. However, as noted in~~ ~~Note 17: Segment Reporting~~, restructuring and other charges, net are excluded from segment operating income. Approximately $1.0 million and $2.0 million of these charges in the three and six months ended June 30, 2021, respectively, relate to site closures in Sensing Solutions. Approximately $0.3 million of these charges in the three and six months ended June 30, 2021 relate to site closures in Performance Sensing.


		For the three months ended				For the six months ended					For the three months ended
		June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020			March 31, 2022		March 31, 2021
Q2 2020 Global Restructure Program charges	Q2 2020 Global Restructure Program charges	$	3,830	$	24,120	$	5,654	$	24,120	Q2 2020 Global Restructure Program charges	$	—	$	1,824
Other restructuring charges
Other restructuring and other charges, net										Other restructuring and other charges, net
Severance costs, net ~~(1)~~	Severance costs, net ~~(1)~~	407		0		593		3,897		Severance costs, net ~~(1)~~	587		186
Facility and other exit costs	Facility and other exit costs	625		0		1,291		0		Facility and other exit costs	1,048		666

Other ~~(2)~~(1)	Other ~~(2)~~(1)	167		14,098		2,073		14,699		Other ~~(2)~~(1)	12,098		1,906
Restructuring and other charges, net	Restructuring and other charges, net	$	5,029	$	38,218	$	9,611	$	42,716	Restructuring and other charges, net	$	13,733	$	4,582

~~(2)~~ ~~Other charges in the three and six months ended June 30, 2020 included~~acquisition-related incentive compensation, partially offset by a ~~charge of $12.1 million~~gain resulting from ~~a prejudgment interest-related award granted by~~reduction of the ~~court on behalf of Wasica Finance GmbH~~liability for contingent consideration for Spear Power Systems ("~~Wasica"~~Spear") ~~in intellectual property litigation in the second quarter of 2020. We settled this litigation with Wasica in the third quarter of 2020.~~. Refer to Note 16: Acquisitions for additional information.


		For the three months ended				For the six months ended					For the three months ended
		June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020			March 31, 2022		March 31, 2021
Currency remeasurement gain/(loss) on net monetary assets		$	1,988	$	(1,097)	$	511	$	456
(Loss)/gain on foreign currency forward contracts		(1,419)		417		(2,377)		(3,364)
Currency remeasurement loss on net monetary assets										Currency remeasurement loss on net monetary assets	$	(67)	$	(1,477)
Loss on foreign currency forward contracts										Loss on foreign currency forward contracts	(1,243)		(958)
Gain/(loss) on commodity forward contracts	Gain/(loss) on commodity forward contracts	1,186		5,427		33		(148)		Gain/(loss) on commodity forward contracts	9,424		(1,153)
Loss on debt refinancing		0		0		(30,066)		0
Loss on debt financing										Loss on debt financing	—		(30,066)
Mark-to-market loss on investments, net										Mark-to-market loss on investments, net	(59,279)		—
Net periodic benefit cost, excluding service cost	Net periodic benefit cost, excluding service cost	(2,268)		(2,516)		(4,678)		(6,897)		Net periodic benefit cost, excluding service cost	(755)		(2,410)
Other	Other	1,525		(655)		(1,808)		(752)		Other	1,464		(3,333)
Other, net	Other, net	$	1,012	$	1,576	$	(38,385)	$	(10,705)	Other, net	$	(50,456)	$	(39,397)

The ~~increase~~decrease in total tax for the three months ended ~~June 30, 2021~~March 31, 2022 compared to the three months ended ~~June 30, 2020 was primarily due to the increase in pre-tax profits. The increase in total tax for the six months ended June 30,~~March 31, 2021 ~~compared to the six months ended June 30, 2020~~ was predominantly ~~due~~related to the overall ~~increase~~decrease in ~~income/(loss)~~income before taxes, ~~as impacted~~driven in part by the ~~mix of profits~~mark-to-market loss on our investment in ~~the various jurisdictions~~Quanergy as discussed in ~~which we operate as well as the nonrecurrence of the benefit recorded in the first quarter of 2020 as a result of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act")~~Note 14: Fair Value Measures.

In response to the global financial and health crisis caused by COVID-19, the U.S. federal government enacted the CARES Act on March 27, 2020. Federal limitations on interest deductions were reduced in connection with this legislation, and we recorded a deferred tax benefit of $7.5 million in the three months ended March 31, 2020, as we were able to utilize additional interest expense that was previously subject to a valuation allowance.

The provision ~~for/(benefit from)~~for income taxes consists of (1) current tax expense, which relates primarily to our profitable operations in tax jurisdictions with limited or no net operating loss carryforwards and withholding taxes related to management fees, royalties, and the repatriation of foreign earnings; and (2) deferred tax expense (or benefit), which represents adjustments in book-to-tax basis differences primarily related to (a) book versus tax basis in intangible assets, (b) changes in net operating loss carryforwards, (c) changes in tax rates, and (d) changes in our assessment of the realizability of our deferred tax assets.

Basic and diluted net ~~income/(loss)~~income per share are calculated by dividing net ~~income/(loss)~~income by the number of basic and diluted weighted-average ordinary shares outstanding during the period. For the three ~~and six~~ months ended ~~June 30,~~March 31, 2022 and 2021 ~~and 2020~~ the weighted-average ordinary shares outstanding used to calculate basic and diluted net ~~income/(loss)~~income per share were as follows:

~~(1)~~ In the three and six months ended June 30, 2020, potential ordinary shares of approximately 66 thousand and 200 thousand, respectively, related to stock options and approximately 353 thousand and 403 thousand, respectively, related to unvested restricted securities were excluded from the calculation of diluted weighted-average ordinary shares outstanding as a result of the net loss incurred in those periods.


	For the three months ended
	March 31, 2022	March 31, 2021
Basic weighted-average ordinary shares outstanding	157,422	157,764
Dilutive effect of stock options	473	708
Dilutive effect of unvested restricted securities	735	758
Diluted weighted-average ordinary shares outstanding	158,630	159,230


		For the three months ended		For the six months ended			For the three months ended
		June 30, 2021	June 30, 2020	June 30, 2021	June 30, 2020		March 31, 2022	March 31, 2021
Anti-dilutive shares excluded	Anti-dilutive shares excluded	8	2,959	7	2,172	Anti-dilutive shares excluded	4	6
Contingently issuable shares excluded	Contingently issuable shares excluded	1,089	1,251	1,020	923	Contingently issuable shares excluded	1,002	950


		June 30, 2021		December 31, 2020			March 31, 2022		December 31, 2021
Finished goods	Finished goods	$	161,378	$	170,488	Finished goods	$	222,375	$	201,424
Work-in-process	Work-in-process	98,194		87,006		Work-in-process	114,496		101,558
Raw materials	Raw materials	244,069		193,511		Raw materials	304,838		285,249
Inventories	Inventories	$	503,641	$	451,005	Inventories	$	641,709	$	588,231

U.S. Plans Non-U.S. Plans
Defined Benefit Retiree Healthcare Defined Benefit Total
2021 2020 2021 2020 2021 2020 2021 2020
Service cost $ 0 $ 0 $ 2 $ 3 $ 1,325 $ 939 $ 1,327 $ 942
Interest cost 120 206 21 36 401 396 542 638
Expected return on plan assets (226) (293) 0 0 (179) (172) (405) (465)
Amortization of net loss 401 300 0 9 462 359 863 668
Amortization of prior service (credit)/cost 0 0 (159) (197) 13 3 (146) (194)
Loss on settlement 1,414 310 0 0 0 1,559 1,414 1,869
Net periodic benefit cost/(credit) $ 1,709 $ 523 $ (136) $ (149) $ 2,022 $ 3,084 $ 3,595 $ 3,458

U.S. Plans Non-U.S. Plans
Defined Benefit Retiree Healthcare Defined Benefit Total
2021 2020 2021 2020 2021 2020 2021 2020
Service cost $ 0 $ 0 $ 4 $ 5 $ 2,303 $ 1,708 $ 2,307 $ 1,713
Interest cost 240 473 42 73 805 711 1,087 1,257
Expected return on plan assets (452) (726) 0 0 (357) (346) (809) (1,072)
Amortization of net loss 802 595 0 19 921 595 1,723 1,209
Amortization of prior service (credit)/cost 0 0 (318) (393) 16 5 (302) (388)
Loss on settlement 2,979 4,332 0 0 0 1,559 2,979 5,891
Net periodic benefit cost/(credit) $ 3,569 $ 4,674 $ (272) $ (296) $ 3,688 $ 4,232 $ 6,985 $ 8,610

~~Table of Contents~~


	U.S. Plans								Non-U.S. Plans
	Defined Benefit				Retiree Healthcare				Defined Benefit				Total
	2022		2021		2022		2021		2022		2021		2022		2021
Service cost	$	—	$	—	$	2	$	2	$	956	$	978	$	958	$	980
Interest cost	113		120		46		21		424		404		583		545
Expected return on plan assets	(195)		(226)		—		—		(244)		(178)		(439)		(404)
Amortization of net loss	141		401		—		—		278		459		419		860
Amortization of prior service (credit)/cost	—		—		(100)		(159)		2		3		(98)		(156)
Loss on settlement	290		1,565		—		—		—		—		290		1,565

Net periodic benefit cost/(credit)	$	349	$	1,860	$	(52)	$	(136)	$	1,416	$	1,666	$	1,713	$	3,390

Maturity Date June 30, 2021 December 31, 2020
Term Loan September 20, 2026 $ 453,780 $ 456,096
4.875% Senior Notes October 15, 2023 500,000 500,000
5.625% Senior Notes November 1, 2024 400,000 400,000
5.0% Senior Notes October 1, 2025 700,000 700,000
6.25% Senior Notes February 15, 2026 0 750,000
4.375% Senior Notes February 15, 2030 450,000 450,000
3.75% Senior Notes February 15, 2031 750,000 750,000
4.0% Senior Notes April 15, 2029 1,000,000 0
Less: discount, net of premium (6,097) (9,605)
Less: deferred financing costs (29,224) (28,114)
Less: current portion (4,629) (754,630)
Long-term debt, net $ 4,213,830 $ 3,213,747
Finance lease and other financing obligations $ 29,872 $ 30,506
Less: current portion (2,652) (2,575)
Finance lease and other financing obligations, less current portion $ 27,220 $ 27,931

~~Revolving Credit Facility~~


	Maturity Date	March 31, 2022		December 31, 2021
Term Loan	September 20, 2026	$	450,308	$	451,465
4.875% Senior Notes	October 15, 2023	500,000		500,000
5.625% Senior Notes	November 1, 2024	400,000		400,000
5.0% Senior Notes	October 1, 2025	700,000		700,000

4.375% Senior Notes	February 15, 2030	450,000		450,000
3.75% Senior Notes	February 15, 2031	750,000		750,000
4.0% Senior Notes	April 15, 2029	1,000,000		1,000,000


Less: debt discount, net of premium		(4,763)		(5,207)
Less: deferred financing costs		(25,410)		(26,682)
Less: current portion		(4,630)		(4,630)
Long-term debt, net		$	4,215,505	$	4,214,946

Finance lease and other financing obligations		$	28,411	$	28,767
Less: current portion		(2,064)		(2,203)
Finance lease and other financing obligations, less current portion		$	26,347	$	26,564

As of ~~June 30, 2021,~~March 31, 2022, we had $416.1 million available under our $420.0 million revolving credit facility (the "Revolving Credit Facility"), net of $3.9 million of obligations in respect of outstanding letters of credit issued thereunder. Outstanding letters of credit are issued primarily for the benefit of certain operating activities. As of ~~June 30, 2021, 0~~March 31, 2022, no amounts had been drawn against these outstanding letters of credit.

~~On February 3, 2021, we announced that we intended to redeem in full the~~ of $750.0 million aggregate principal amount ~~outstanding on our~~of 6.25% senior notes due 2026 (the "6.25% Senior Notes")~~. On February 15, 2021, the “make-whole” premium with respect to the 6.25% Senior Notes expired. Accordingly,~~, we ~~reflected the 6.25% Senior Notes as a current liability on our consolidated balance sheet as of December 31, 2020.~~

We redeemed the 6.25% Senior Notes on March 5, 2021 in accordance with the terms of the indenture under which the 6.25% Senior Notes were issued and the terms of the notice of redemption at a redemption price equal to 103.125% of the aggregate principal amount of the outstanding 6.25% Senior Notes, plus accrued and unpaid interest to (but not including) the redemption date. In addition to the $750.0 million aggregate principal amount outstanding, at redemption we paid the $23.4 million premium and $2.6 million accrued interest.

On March 29, 2021, our indirect, wholly-owned subsidiary, Sensata Technologies B.V. ("STBV"), completed the issuance and sale of $750.0 million aggregate principal amount of 4.0% senior notes due 2029 (the "4.0% Senior Notes"). The 4.0% Senior Notes were issued under an indenture dated as of March 29, 2021 among STBV, as issuer, The Bank of New York Mellon, as trustee (the "Trustee"), and our guarantor subsidiaries (the "Guarantors") named therein (the "4.0% Senior Notes Indenture").

The 4.0% Senior Notes Indenture contains covenants that limit the ability of STBV and its subsidiaries to, among other things: incur liens; engage in sale and leaseback transactions; with respect to any subsidiary of STBV, incur indebtedness without such subsidiary’s guaranteeing the 4.0% Senior Notes; or consolidate, merge with, or sell, assign, convey, transfer, lease, or otherwise dispose of all or substantially all of their properties or assets to, another person. These covenants are subject to important exceptions and qualifications set forth in the 4.0% Senior Notes Indenture.

The 4.0% Senior Notes bear interest at 4.0% per year and mature on April 15, 2029. Interest is payable semi-annually on April 15 and October 15 of each year, commencing on October 15, 2021. The 4.0% Senior Notes are guaranteed by each of STBV's wholly-owned subsidiaries that is a borrower or guarantor under the senior secured credit facilities (the "Senior Secured Credit Facilities") of STBV's wholly-owned subsidiary Sensata Technologies, Inc. ("STI") and the issuer or a guarantor under our existing senior notes as follows: STBV's 4.875% Senior Notes due 2023, 5.625% Senior Notes due 2024, and 5.0% Senior Notes due 2025; and STI's 4.375% Senior Notes due 2030 and 3.75% Senior Notes due 2031.

At any time, and from time to time, prior to April 15, 2024, STBV may redeem the 4.0% Senior Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the 4.0% Senior Notes being redeemed, plus a “make whole” premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time on or after April 15, 2024, STBV may redeem the 4.0% Senior Notes, in whole or in part, at the following prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any, up to but excluding the redemption date.

In addition, at any time prior to April 15, 2024, STBV may redeem up to 40% of the principal amount of the outstanding 4.0% Senior Notes (including additional 4.0% Senior Notes, if any, that may be issued after March 29, 2021) with the net cash proceeds of certain equity offerings at a redemption price (expressed as a percentage of principal amount) of 104.00%, plus accrued and unpaid interest, if any, up to but excluding the redemption date, provided that at least 60% of the aggregate principal amount of the 4.0% Senior Notes (including additional 4.0% Senior Notes, if any) remains outstanding immediately after each such redemption.

Upon changes in certain tax laws or treaties, or any change in the official application, administration, or interpretation thereof, STBV may, at its option, redeem the 4.0% Senior Notes, in whole but not in part, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, up to but excluding the redemption date, premium, if any, and all Additional Amounts (as defined in the 4.0% Senior Notes Indenture), if any, then due and which will become due on the date of redemption.

On April 8, 2021, STBV completed the issuance and sale of an additional $250.0 million in aggregate principal amount of 4.0% Senior Notes (the “Additional Notes”). The Additional Notes were priced at 100.75% and were issued pursuant to the 4.0% Senior Notes Indenture, as supplemented by the First Supplemental Indenture, dated as of April 8, 2021, among STBV, the Guarantors, and the Trustee. The Additional Notes are consolidated and form a single class with the $750.0 million aggregate principal amount of 4.0% Senior Notes issued by STBV on March 29, 2021 (the “Initial Notes”). The Additional Notes have the same terms as the Initial Notes, other than with respect to the date of issuance and the issue price.

~~In connection with the redemption of the 6.25% Senior Notes, we recorded~~recognized a loss of $30.1 million, which included $23.4 million in premiums paid, with the remaining loss representing write-off of debt discounts and deferred financing costs. In connection with the issuance of the 4.0% Senior Notes, we recognized $9.6 million of deferred financing costs, which are presented as a reduction of long-term debt on our condensed consolidated balance sheets and $1.7 million of issuance premiums, which are presented as an addition to long-term debt on our condensed consolidated balance sheets.

We are regularly involved in a number of claims and litigation matters that arise in the ordinary course of business. Although it is not feasible to predict the outcome of these matters, based upon our experience and current information known to us, we do not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on our results of operations, financial ~~position,~~condition, and/or cash flows.

From time to time, our Board of Directors has authorized various share repurchase programs, which may be modified or terminated by the Board at any time. ~~We currently have an~~On January 20, 2022, we announced that our Board of Directors had authorized a new $500.0 million ordinary share repurchase program ~~under~~(the “January 2022 Program”), which ~~approximately $302.3~~replaced the previous $500.0 million program approved in July 2019, which had availability of $254.5 million as of December 31, 2021. As of March 31, 2022, $449.5 million remained available ~~as of June 30, 2021. On April 2, 2020, we announced a temporary suspension of this share~~for repurchase ~~program, which will remain on hold until we determine that market conditions warrant continuation of~~under the ~~program.~~January 2022 Program.


		Cash Flow Hedges		Defined Benefit and Retiree Healthcare Plans		Accumulated Other Comprehensive Loss			Cash Flow Hedges		Defined Benefit and Retiree Healthcare Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2020		$	(6,733)	$	(42,802)	$	(49,535)
Balance as of December 31, 2021								Balance as of December 31, 2021	$	16,831	$	(36,391)	$	(19,560)
Other comprehensive income before reclassifications, net of tax	Other comprehensive income before reclassifications, net of tax	11,871		0		11,871		Other comprehensive income before reclassifications, net of tax	7,965		—		7,965
Reclassifications from accumulated other comprehensive loss, net of tax	Reclassifications from accumulated other comprehensive loss, net of tax	3,805		3,384		7,189		Reclassifications from accumulated other comprehensive loss, net of tax	(5,115)		428		(4,687)
Other comprehensive income	Other comprehensive income	15,676		3,384		19,060		Other comprehensive income	2,850		428		3,278
Balance at June 30, 2021		$	8,943	$	(39,418)	$	(30,475)
Balance as of March 31, 2022								Balance as of March 31, 2022	$	19,681	$	(35,963)	$	(16,282)


		For the three months ended June 30,				For the six months ended June 30,				Affected Line in Condensed Consolidated Statements of Operations		For the three months ended March 31,				Affected Line in Condensed Consolidated Statements of Operations
Component	Component	2021		2020		2021		2020			Component	2022		2021
Derivative instruments designated and qualifying as cash flow hedges:	Derivative instruments designated and qualifying as cash flow hedges:										Derivative instruments designated and qualifying as cash flow hedges:
Foreign currency forward contracts	Foreign currency forward contracts	$	3,433	$	(6,392)	$	7,840	$	(13,015)	Net revenue (1)	Foreign currency forward contracts	$	(4,264)	$	4,407		Net revenue (1)
Foreign currency forward contracts	Foreign currency forward contracts	(2,024)		193		(2,767)		(1,575)		Cost of revenue (1)	Foreign currency forward contracts	(2,629)		(743)			Cost of revenue (1)

Total, before taxes	Total, before taxes	1,409		(6,199)		5,073		(14,590)		Income/(loss) before taxes	Total, before taxes	(6,893)		3,664			Income before taxes
Income tax effect	Income tax effect	(352)		1,550		(1,268)		3,648		Provision for/(benefit from) income taxes	Income tax effect	1,778		(916)			Provision for income taxes
Total, net of taxes	Total, net of taxes	$	1,057	$	(4,649)	$	3,805	$	(10,942)	Net income/(loss)	Total, net of taxes	$	(5,115)	$	2,748		Net income

Defined benefit and retiree healthcare plans	Defined benefit and retiree healthcare plans	$	2,131	$	2,343	$	4,400	$	6,712	Other, net (2)	Defined benefit and retiree healthcare plans	$	611	$	2,269		Other, net (2)

Income tax effect	Income tax effect	(459)		(671)		(1,016)		(1,698)		Provision for/(benefit from) income taxes	Income tax effect	(183)		(557)			Provision for income taxes
Total, net of taxes	Total, net of taxes	$	1,672	$	1,672	$	3,384	$	5,014	Net income/(loss)	Total, net of taxes	$	428	$	1,712		Net income


		June 30, 2021		December 31, 2020			March 31, 2022		December 31, 2021
Assets	Assets					Assets
Foreign currency forward contracts	Foreign currency forward contracts	$	17,789	$	16,163	Foreign currency forward contracts	$	29,063	$	25,112
Commodity forward contracts	Commodity forward contracts	5,479		8,902		Commodity forward contracts	8,474		2,979
Total	Total	$	23,268	$	25,065	Total	$	37,537	$	28,091

Liabilities	Liabilities					Liabilities
Foreign currency forward contracts	Foreign currency forward contracts	$	7,667	$	24,660	Foreign currency forward contracts	$	3,682	$	3,073
Commodity forward contracts	Commodity forward contracts	2,016		310		Commodity forward contracts	1,752		4,492
Total	Total	$	9,683	$	24,970	Total	$	5,434	$	7,565

As of December 31, 2021, we held a $50.0 million investment in Quanergy Systems, Inc. ("Quanergy") Series B Preferred Stock. This equity investment did not have a readily determinable fair value and it was held using the measurement alternative prescribed in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 321, Investments - Equity Securities. Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer.

On June 22, 2021, Quanergy announced that it had entered into a definitive business combination agreement with CITIC Capital Acquisition Corp ("CITIC") (NYSE: CCAC). On July 16, 2021, CITIC filed a Registration Statement on Form S-4 with the SEC, the effectiveness of which was a condition to closing of the business combination. At December 31, 2021, we assessed our investment in Quanergy based on the proposed terms of the business combination agreement and concluded that there were no indicators of impairment.

On January 6, 2022, the related Registration Statement on Form S-4 was declared effective by the SEC. An Extraordinary General Meeting of shareholders of CITIC was held on January 31, 2022, at which time the business combination was approved. The business combination closed on February 8, 2022. Beginning on February 9, 2022, the combined company, which retained the name "Quanergy Systems, Inc.," was listed on the New York Stock Exchange (the "NYSE") under the ticker symbol QNGY.

The 5.75 million common share investment in Quanergy (excluding the Warrant Shares) have a historical cost basis of $57.5 million. The Warrant Shares were converted at a share price of $7.05 per share (the closing market price on February 8, 2022), or approximately $17.6 million, which was recorded as deferred income. Refer to below discussion for additional details on the Support Agreement. Refer to the below table for a summary of our investment in Quanergy as of March 31, 2022,

In exchange for the Warrant Shares, we entered into the Support Agreement, whereby we agreed to provide technical and marketing assistance to Quanergy for a term of four years from the effective date of February 8, 2022. We will recognize the consideration ($17.6 million) for the Support Agreement on a straight-line basis over the term of the agreement. We recognized approximately $0.7 million of income in the three months ended March 31, 2022 and will recognize approximately $1.1 million of income each quarter through the end of the term of the Support Agreement.


		June 30, 2021				December 31, 2020					March 31, 2022				December 31, 2021
		Carrying Value (1)		Fair Value		Carrying Value (1)		Fair Value			Carrying Value (1)		Fair Value		Carrying Value (1)		Fair Value
Liabilities	Liabilities									Liabilities
Term Loan	Term Loan	$	453,780	$	453,780	$	456,096	$	454,955	Term Loan	$	450,308	$	449,182	$	451,465	$	450,901
4.875% Senior Notes	4.875% Senior Notes	$	500,000	$	533,750	$	500,000	$	538,750	4.875% Senior Notes	$	500,000	$	512,500	$	500,000	$	526,250
5.625% Senior Notes	5.625% Senior Notes	$	400,000	$	444,000	$	400,000	$	448,000	5.625% Senior Notes	$	400,000	$	416,000	$	400,000	$	438,000
5.0% Senior Notes	5.0% Senior Notes	$	700,000	$	777,000	$	700,000	$	777,000	5.0% Senior Notes	$	700,000	$	714,875	$	700,000	$	759,500
6.25% Senior Notes		$	0	$	0	$	750,000	$	778,125

4.375% Senior Notes	4.375% Senior Notes	$	450,000	$	473,625	$	450,000	$	487,125	4.375% Senior Notes	$	450,000	$	432,000	$	450,000	$	479,250
3.75% Senior Notes	3.75% Senior Notes	$	750,000	$	740,625	$	750,000	$	776,250	3.75% Senior Notes	$	750,000	$	690,938	$	750,000	$	747,188
4.0% Senior Notes	4.0% Senior Notes	$	1,000,000	$	1,010,000	$	0	$	0	4.0% Senior Notes	$	1,000,000	$	942,500	$	1,000,000	$	1,022,500

In addition to the above, we hold certain equity investments that do not have readily determinable fair values for which we use the measurement alternative prescribed in ~~Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC")~~FASB ASC Topic ~~321,~~ ~~Investments - Equity Securities~~. Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer.321. There were no impairments or changes resulting from observable transactions for any of these investments and no adjustments were made to their carrying values.


		June 30, 2021		December 31, 2020			March 31, 2022		December 31, 2021
Quanergy		$	50,000	$	50,000
Quanergy Systems, Inc. (1)						Quanergy Systems, Inc. (1)	$	—	$	50,000
Other	Other	15,000		15,000		Other	15,000		15,000

Total	Total	$	65,000	$	65,000	Total	$	15,000	$	65,000

~~On June 22, 2021,~~(1) As of March 31, 2022, Quanergy ~~Systems, Inc. ("Quanergy") announced that it had entered into~~is no longer classified as an equity investment without a definitive business combination agreement with CITIC Capital Acquisition Corp (NYSE: CCAC). Upon closing of the business combination, which is expected to be in the second half of 2021, subject to customary closing conditions, the combined company is expected to be listed on the New York Stock Exchange ("NYSE")readily determinable fair value. See additional discussion under the ~~ticker symbol QNGY. We have assessed our investment~~heading Quanergy elsewhere in Quanergy based on the proposed terms of the business combination agreement and concluded that there were no indicators of impairment as of June 30, 2021. Subsequent to closing, we will mark our investment to market each reporting period.this Note.

For the three ~~and six~~ months ended ~~June 30,~~March 31, 2022 and 2021, ~~and 2020,~~ amounts excluded from the assessment of effectiveness of our foreign currency forward contracts that are designated as cash flow hedges were not material. As of ~~June 30, 2021,~~March 31, 2022, we estimated that ~~$9.2~~$23.7 million of net gains will be reclassified from accumulated other comprehensive loss to earnings during the twelve-month period ending ~~June 30, 2022.~~March 31, 2023.

Notional
(in millions)

Effective Date(s)

Maturity Date(s)

Index (Exchange Rates)

Weighted-Average Strike Rate

Hedge

Designation (1)

~~14.0~~15.0 EUR

~~June 28, 2021~~March 29, 2022

~~July 30, 2021~~April 29, 2022

Euro ("EUR") to USD

~~1.19~~1.11 USD

Not designated

~~370.4~~349.6 EUR

Various from ~~August 23, 2019~~May 2020 to ~~June 22, 2021~~March 2022

Various from ~~July 30, 2021~~April 2022 to ~~June 30, 2023~~March 2024

EUR to USD

1.19 USD

Cash flow hedge

~~696.0~~1,170.0 CNY

~~June 23, 2021~~Various in March 2022

~~July 30, 2021~~Various in April 2022

USD to Chinese Renminbi ("CNY")

~~6.51~~6.38 CNY

Not designated

~~520.8~~1,134.3 CNY

Various from ~~November 5, 2020~~October 2021 to ~~January 5, 2021~~March 2022

Various from ~~July 30, 2021~~April 2022 to December ~~31, 2021~~2022

USD to CNY

~~6.66~~6.44 CNY

Cash flow hedge

~~450.0~~684.0 JPY

~~June 28, 2021~~March 29, 2022

~~July 30, 2021~~April 28, 2022

USD to Japanese Yen ("JPY")

~~110.82~~122.02 JPY

Not designated

~~20,066.7~~24,400.0 KRW

Various from ~~August 23, 2019~~May 2020 to ~~June 22, 2021~~March 2022

Various from ~~July 30, 2021~~April 2022 to ~~May 31, 2023~~February 2024

USD to Korean Won ("KRW")

~~1,143.12~~1,170.98 KRW

Cash flow hedge

~~26.0~~24.0 MYR

~~June 23, 2021~~March 28, 2022

~~July 30, 2021~~April 29, 2022

USD to Malaysian Ringgit ("MYR")

~~4.14~~4.21 MYR

Not designated

~~423.0~~259.0 MXN

~~June 28, 2021~~March 29, 2022

~~July 30, 2021~~April 29, 2022

USD to Mexican Peso ("MXN")

~~19.92~~20.05 MXN

Not designated

~~3,215.0~~3,477.3 MXN

Various from ~~August 23, 2019~~May 2020 to ~~June 22, 2021~~March 2022

Various from ~~July 30, 2021~~April 2022 to ~~June 30, 2023~~March 2024

USD to MXN

~~22.41~~22.11 MXN

Cash flow hedge

~~5.6~~52.4 GBP

~~June 28, 2021~~Various from May 2020 to March 2022

~~July 30, 2021~~Various from April 2022 to March 2024

British Pound Sterling ("GBP") to USD

~~1.39 USD~~

~~Not Designated~~

~~51.3 GBP~~

~~Various from August 23, 2019 to June 22, 2021~~

~~Various from July 30, 2021 to June 30, 2023~~

~~GBP to USD~~

~~1.33~~1.36 USD

Cash flow hedge

Commodity

Notional

Remaining Contracted Periods

Weighted-Average Strike Price Per Unit

Silver

~~929,084~~1,109,868 troy oz.