TE Connectivity (TEL) 10-Q 31 Jul 09 2009 Q3 Quarterly report Financial data

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Per Share data	3 Months Ended Jun. 26, 2009	3 Months Ended Jun. 27, 2008	9 Months Ended Jun. 26, 2009	9 Months Ended Jun. 27, 2008
Net sales	$2,508	$3,782	$7,558	$10,797
Cost of sales	1,921	2,683	5,713	7,632
Gross income	587	1,099	1,845	3,165
Selling, general, and administrative expenses	330	409	1,070	1,177
Research, development, and engineering expenses	130	152	405	438
Pre-Separation litigation charges, net		7	144	30
Restructuring and other charges, net	63	16	329	62
Impairment of goodwill			3,547
Operating income (loss)	64	515	(3,650)	1,458
Interest income	4	6	13	25
Interest expense	(42)	(44)	(125)	(144)
Other income, net	5	1	7	606
Income (loss) from continuing operations before income taxes and minority interest	31	478	(3,755)	1,945
Income tax (expense) benefit	(3)	(191)	577	(502)
Minority interest	(2)	(2)	(5)	(4)
Income (loss) from continuing operations	26	285	(3,183)	1,439
Income (loss) from discontinued operations, net of income taxes	(100)	45	(166)	141
Net income (loss)	($74)	$330	($3,349)	$1,580
Basic earnings (loss) per share:
Income (loss) from continuing operations (in dollars per share)	0.06	0.6	-6.95	2.95
Income (loss) from discontinued operations (in dollars per share)	-0.22	0.09	-0.36	0.29
Net income (loss) (in dollars per share)	-0.16	0.69	-7.31	3.24
Diluted earnings (loss) per share:
Income (loss) from continuing operations (in dollars per share)	0.06	0.59	-6.95	2.94
Income (loss) from discontinued operations (in dollars per share)	-0.22	0.09	-0.36	0.28
Net income (loss) (in dollars per share)	-0.16	0.68	-7.31	3.22
Weighted-average number of shares outstanding:
Basic (in shares)	458	478	458	487
Diluted (in shares)	459	482	458	490

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Jun. 26, 2009	Sep. 26, 2008
Current Assets:
Cash and cash equivalents	$1,258	$1,090
Accounts receivable, net of allowance for doubtful accounts of $44 and $40, respectively	1,795	2,656
Inventories	1,640	2,159
Prepaid expenses and other current assets	662	756
Deferred income taxes	203	204
Assets held for sale		770
Total current assets	5,558	7,635
Property, plant, and equipment, net	3,106	3,342
Goodwill	3,152	6,749
Intangible assets, net	415	454
Deferred income taxes	2,577	1,915
Receivable from Tyco International Ltd. and Covidien Ltd.	1,246	1,218
Other assets	238	287
Total Assets	16,292	21,600
Current Liabilities:
Current maturities of long-term debt	1	20
Accounts payable	951	1,433
Accrued and other current liabilities	1,505	1,558
Deferred revenue	168	207
Liabilities held for sale		169
Total current liabilities	2,625	3,387
Long-term debt	2,578	3,161
Long-term pension and postretirement liabilities	706	721
Deferred income taxes	285	289
Income taxes	2,372	2,291
Other liabilities	645	668
Total Liabilities	9,211	10,517
Minority interest	10	10
Shareholders' Equity:
Preferred shares, none at June 26, 2009; 125,000,000 shares authorized and none outstanding, $0.20 par value, at September 26, 2008	0	0
Common shares, 468,215,574 shares authorized and issued, CHF 2.60 par value, at June 26, 2009; 1,000,000,000 shares authorized and 500,241,706 issued, $0.20 par value, at September 26, 2008	1,049	100
Capital in excess:
Share premium		61
Contributed surplus	8,156	10,106
Accumulated (deficit) earnings	(2,361)	1,141
Treasury shares, at cost, 10,000,000 and 36,904,702 shares, respectively	(371)	(1,264)
Accumulated other comprehensive income	598	929
Total Shareholders' Equity	7,071	11,073
Total Liabilities and Shareholders' Equity	$16,292	$21,600

1_CONDENSED CONSOLIDATED BALANC

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Millions, except Share data	Jun. 26, 2009	Sep. 26, 2008
BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$44	$40
Preferred shares, shares authorized (in shares)		125,000,000
Preferred shares, shares outstanding (in shares)		0
Preferred shares, par value (in dollars per share)		0.2
Common shares, shares authorized (in shares)	468,215,574	1,000,000,000
Common shares, shares issued (in shares)	468,215,574	500,241,706
Common shares, par value, CHF per share (in Swiss Francs per share)	2.6
Common shares, par value, USD per share (in dollars per share)		0.2
Treasury shares, shares (in shares)	10,000,000	36,904,702

2_CONDENSED CONSOLIDATED STATEM

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	9 Months Ended Jun. 26, 2009	9 Months Ended Jun. 27, 2008
Cash Flows From Operating Activities:
Net income (loss)	($3,349)	$1,580
(Income) loss from discontinued operations, net of income taxes	166	(141)
Income (loss) from continuing operations	(3,183)	1,439
Adjustments to reconcile net cash provided by (used in) operating activities:
Impairment of goodwill	3,547
Tax sharing income	(9)	(606)
Class action settlement		(936)
Non-cash restructuring and other charges, net	29	28
Depreciation and amortization	382	399
Deferred income taxes	(692)	205
Provision for losses on accounts receivable and inventory	57	30
Other	56	12
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net	779	(152)
Inventories	471	(269)
Inventoried costs on long-term contracts	(107)	(41)
Prepaid expenses and other current assets	224	62
Accounts payable	(470)	81
Accrued and other current liabilities	(248)	(48)
Income taxes	27
Deferred revenue	(41)	122
Long-term pension and postretirement liabilities	17	12
Other	(10)	(13)
Net cash provided by continuing operating activities	829	325
Net cash (used in) provided by discontinued operating activities	(42)	26
Net cash provided by operating activities	787	351
Cash Flows From Investing Activities:
Capital expenditures	(270)	(445)
Proceeds from sale of property, plant and equipment	9	37
Class action settlement escrow		936
Proceeds from divestiture of discontinued operations, net of cash retained by operations sold	694	102
Proceeds from divesture of businesses, net of cash retained by businesses sold	16
Other	(2)	(21)
Net cash provided by continuing investing activities	447	609
Net cash used in discontinued investing activities	(3)	(10)
Net cash provided by investing activities	444	599
Cash Flows From Financing Activities:
Net (decrease) increase in commercial paper	(649)	651
Repayment of long-term debt	(461)	(1,351)
Proceeds from long-term debt	448	500
Repurchase of common shares	(152)	(832)
Payment of common share dividends	(221)	(205)
Proceeds from exercise of share options	1	51
Transfers (to) from discontinued operations	(49)	32
Other	(4)	(12)
Net cash used in continuing financing activities	(1,087)	(1,166)
Net cash provided by (used in) discontinued financing activities	49	(31)
Net cash used in financing activities	(1,038)	(1,197)
Effect of currency translation on cash	(21)	19
Net increase (decrease) in cash and cash equivalents	172	(228)
Less: net (increase) decrease in cash and cash equivalents related to discontinued operations	(4)	15
Cash and cash equivalents at beginning of period	1,090	944
Cash and cash equivalents at end of period	$1,258	$731

Basis of Presentation

Basis of Presentation
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Basis of Presentation	1.Basis of Presentation Tyco ElectronicsLtd. ("Tyco Electronics" or the "Company") is a leading global provider of engineered electronic components, network solutions, specialty products, and undersea telecommunication systems. Effective January1, 2009, the Company established the Specialty Products Group from its existing businesses. Beginning in the second quarter of fiscal 2009, the results of this new organization are reported as a separate reporting segment. This new segment is comprised of the Medical Products, Circuit Protection, Touch Systems, and Aerospace, Defense, and Marine businesses which were formerly reported in the Electronic Components segment. See Note20 for additional information regarding the Company's segments. Change of Domicile Effective June25, 2009, the Company discontinued its existence as a Bermuda company as provided in Section132G of The Companies Act of 1981 of Bermuda, as amended (the "Bermuda Companies Act"), and, in accordance with article161 of the Swiss Federal Code on International Private Law, continued its existence as a Swiss company under articles620 et seq. of the Swiss Code of Obligations (the "Change of Domicile"). The rights of holders of the Company's shares are now governed by Swiss law, the Company's Swiss articles of association, and its Swiss organizational regulations. The articles of association and organizational regulations were included as exhibits to the Company's Current Report on Form8-K filed with the Securities and Exchange Commission ("SEC") on June25, 2009. The Separation Effective June29, 2007, the Company became the parent company of the former electronics businesses of Tyco InternationalLtd. ("Tyco International"). On June29, 2007, Tyco International distributed all of its shares of Tyco Electronics, as well as its shares of its former healthcare businesses ("Covidien"), to its common shareholders (the "Separation"). Basis of Presentation The unaudited Condensed Consolidated Financial Statements have been prepared in United States dollars, in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results could differ materially from these estimates. In management's opinion, the unaudited Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary for a fair presentation of interim results. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire fiscal year or any subsequent interim period. The Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form10-Q under the Securities Exchange Act of 1934, as amended. The year-end balance sheet data was derived from audited financial statements, but does not include all of the information

Accounting Pronouncements

Accounting Pronouncements
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Accounting Pronouncements	2.Accounting Pronouncements Recently Adopted Accounting Pronouncements In May 2009, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No.165, "Subsequent Events." SFAS No.165 establishes general standards for accounting and disclosure of events occurring subsequent to the balance sheet date but prior to issuance of the financial statements. The Company adopted SFAS No.165 in the third quarter of fiscal 2009. See Note21 for the required disclosures related to subsequent events. In April 2009, the FASB issued FASB Staff Position ("FSP") No. FAS107-1 and Accounting Principles Board ("APB") 28-1, "Interim Disclosures about Fair Value of Financial Instruments." FSP No. FAS107-1 and APB28-1 amends SFAS No.107, "Disclosures about Fair Value of Financial Instruments," to require disclosures about fair value of financial instruments for interim reporting periods of publicly traded companies as well as in annual financial statements. It also amends APB Opinion No.28, "Interim Financial Reporting," to require those disclosures in summarized financial information at interim reporting periods. The Company adopted FSP No. FAS107-1 and APB28-1 in the third quarter of fiscal 2009. See Note11 for the required disclosures related to the fair value of financial instruments. In March 2008, the FASB issued SFAS No.161, "Disclosures about Derivative Instruments and Hedging Activitiesan amendment of FASB Statement No.133." SFAS No.161 amends and expands the disclosure requirements of SFAS No.133, "Accounting for Derivative Instruments and Hedging Activities," to provide improved transparency into the uses and financial statement impact of derivative instruments and hedging activities. SFAS No.161 was adopted by the Company in the second quarter of fiscal 2009. See Note11 for the required disclosures related to derivative instruments and hedging activities. In June 2007, the FASB issued Emerging Issues Task Force ("EITF") Issue No.06-11, "Accounting for Income Tax Benefits of Dividends on Share-Based Payment Awards." EITF06-11 requires that a realized income tax benefit from dividends or dividend equivalent units paid on non-vested restricted shares and restricted share units be reflected as an increase in contributed surplus and reflected as an addition to the Company's excess tax benefit pool, as defined under SFAS No.123(R), "Share-Based Payment." The Company adopted EITF06-11 in the first quarter of fiscal 2009. Adoption did not have a material impact on the Company's results of operations, financial position, or cash flows. In March 2007, the FASB issued EITF Issue No.06-10, "Accounting for Collateral Assignment Split-Dollar Life Insurance Arrangements." The Company adopted EITF06-10 in the first quarter of fiscal 2009. Accordingly, the Company recognized accrued and other current liabilities of $1million and other liabilities of $4million on its Condensed Consolidated Balance Sheet at the beginning of the first quarter of fiscal 2009 with a corresponding decrease in the opening balance of accumulated earnings of $5million. In February 2007, the FASB issued SFAS No.159, "The

Restructuring and Other Charges

Restructuring and Other Charges, Net
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Restructuring and Other Charges, Net	3.Restructuring and Other Charges, Net Restructuring and other charges, net consisted of the following during the quarters and nine months ended June26, 2009 and June27, 2008: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Restructuring and related charges, net $ 60 $ 16 $ 320 $ 62 Loss on divestiture and other charges 3 9 $ 63 $ 16 $ 329 $ 62 Restructuring and Related Charges, Net Charges to operations by segment during the quarters and nine months ended June26, 2009 and June27, 2008 were as follows: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Electronic Components $ 43 $ 11 $ 245 $ 41 Network Solutions 15 4 42 18 Specialty Products 1 27 Undersea Telecommunications 1 1 5 4 60 16 319 63 Less: (charges) credits in cost of sales 1 (1 ) Restructuring and related charges, net $ 60 $ 16 $ 320 $ 62 Amounts recognized on the Condensed Consolidated Statements of Operations during the quarters and nine months ended June26, 2009 and June27, 2008 were as follows: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Cash charges $ 54 $ 8 $ 290 $ 35 Non-cash charges 6 8 29 28 60 16 319 63 Less: (charges) credits in cost of sales 1 (1 ) Restructuring and related charges, net $ 60 $ 16 $ 320 $ 62 Cash Charges Activity in the Company's restructuring reserves during the first nine months of fiscal 2009 is summarized as follows: Balance at September26, 2008 Charges Utilization Changes in Estimate Currency Translation and Other Balance at June26, 2009 (in millions) Fiscal 2009 Actions: Employee severance $ $ 226 $ (96 ) $ (4 ) $ 5 $ 131 Facility exit costs 5 (2 ) 3 6 Other 4 (4 ) 15 15 Total 235 (102 ) (4 ) 23 (1) 152 Fiscal 2008 Actions: Employee severance 118 (46 ) 30 (7 ) 95 Facility exit costs 8 (4 ) (1 ) 3 Other 2 11 (5 ) (1 ) 7 Total 120 19 (55 ) 30 (9 ) 105 Pre-Fiscal 2008 Actions: Employee severance 31 (22 ) (4 ) (2 ) 3 Facilities exit costs 58 11 (18 ) (2 ) 49 Other 2 3 (3 ) 2

Discontinued Operations

Discontinued Operations
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Discontinued Operations	4.Discontinued Operations In April 2009, the Company entered into a definitive agreement to sell its Wireless Systems business. In the third quarter of fiscal 2009, the Company completed the sale for $665million in net cash proceeds and recognized a pre-tax gain of $55million on this transaction. The proceeds and gain on sale are subject to a final working capital adjustment. During the nine months ended June26, 2009, the Company received additional cash proceeds related to working capital of $29million in connection with the fiscal 2008 sale of the Radio Frequency Components and Subsystem and Automotive Radar Sensors businesses. The Company's Condensed Consolidated Balance Sheet reflected the $29million in prepaid expenses and other current assets at September26, 2008. In the first quarter of fiscal 2008, in connection with the sale of its Power Systems business, the Company received $102million in net cash proceeds and recorded a $56million pre-tax gain on the sale. The Wireless Systems, Radio Frequency Components and Subsystem, Automotive Radar Sensors, and Power Systems businesses met the held for sale and discontinued operations criteria and have been included in discontinued operations in all periods presented. Prior to reclassification to held for sale and discontinued operations, the Wireless Systems, Radio Frequency Components and Subsystem, and Automotive Radar Sensors businesses were components of the former Wireless Systems segment. The Power Systems business was a component of the Other segment, which was subsequently renamed the Undersea Telecommunications segment. The following table reflects net sales, pre-tax income (loss) from discontinued operations, pre-tax gain on sale of discontinued operations, and income taxes for the quarters and nine months ended June26, 2009 and June27, 2008: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Net sales $ 47 $ 255 $ 262 $ 808 Pre-tax income (loss) from discontinued operations $ (22 ) $ 28 $ (130 ) $ 55 Pre-tax gain on sale of discontinued operations 55 59 56 Income tax (provision) benefit (133 ) 17 (95 ) 30 Income (loss) from discontinued operations, net of income taxes $ (100 ) $ 45 $ (166 ) $ 141 Pre-tax loss from discontinued operations for the nine months ended June26, 2009 included pre-tax charges of $111million related to the Wireless Systems business's contract with the State of New York. See Note12 for additional information regarding the State of New York contract. The income tax provision on discontinued operations for the quarter and nine months ended June26, 2009 includes $68million relating to the impact of $319million of goodwill written off in connection with the divestiture of the Wireless Systems business, for which a tax benefit was not fully realized, as well as $35million of adjustments to the estimated tax provision on a previously divested business as a result of the finalization of the tax basis of asse

Inventories

Inventories
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Inventories	5.Inventories Inventories consisted of the following: June26, 2009 September26, 2008 (in millions) Raw materials $ 270 $ 410 Work in progress 457 670 Inventoried costs on long-term contracts 221 115 Finished goods 692 964 Inventories $ 1,640 $ 2,159

Goodwill

Goodwill
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Goodwill	6.Goodwill The changes in the carrying amount of goodwill by segment were as follows: Electronic Components Network Solutions Specialty Products Total (in millions) Balance at September26, 2008 $ 4,890 $ 849 $ 1,010 $ 6,749 Divestiture of the Battery Systems business (14 ) (14 ) Impairment (3,435 ) (112 ) (3,547 ) Currency translation (34 ) (2 ) (36 ) Balance at June26, 2009 $ 1,407 $ 849 $ 896 $ 3,152 The Company tests goodwill allocated to reporting units for impairment annually during the fiscal fourth quarter, or more frequently if events occur or circumstances exist that indicate that a reporting unit's carrying value may exceed its fair value. As a result of declines in sales and profitability of the Automotive and Communications and Industrial Solutions reporting units of the Electronic Components segment and the Circuit Protection reporting unit of the Specialty Products segment during the second quarter of fiscal 2009, the Company determined that an indicator of impairment had occurred and goodwill impairment testing of these reporting units was required. Significant judgment is involved in determining if an indicator of impairment has occurred. In making this assessment, management relies on a number of factors including, among others, operating results, business plans, economic projections, and anticipated future cash flows. There are inherent uncertainties related to these factors and management's judgment in applying each to the analysis of the recoverability of goodwill. The testing for goodwill impairment is a two step process. In performing step I of impairment testing, the Company determined the fair value of the Automotive, Communications and Industrial Solutions, and Circuit Protection reporting units based on a discounted cash flows analysis incorporating the Company's estimate of future operating performance. The results of the step I goodwill impairment tests indicated that the book value of each of the reporting units exceeded its fair value. The failure of the step I goodwill impairment tests triggered step II goodwill impairment tests in which the Company determined the implied fair value of the reporting units' goodwill by comparing the reporting units' fair value determined in step I to the fair value of the reporting units' net assets, including unrecognized intangible assets. The step II goodwill impairment tests resulted in a full impairment charge of $2,088million for the Automotive reporting unit and partial impairment charges of $1,347million and $112million for the Communications and Industrial Solutions and Circuit Protection reporting units, respectively, in the second quarter of fiscal 2009.

Intangible Assets, Net

Intangible Assets, Net
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Intangible Assets, Net	7.Intangible Assets, Net The Company's intangible assets were as follows: June26, 2009 September26, 2008 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period ($ in millions) Intellectual property $ 724 $ (322 ) $ 402 24years $ 764 $ (323 ) $ 441 24years Other 17 (4 ) 13 50years 16 (3 ) 13 49years Total $ 741 $ (326 ) $ 415 25years $ 780 $ (326 ) $ 454 25years Intangible asset amortization expense, which is recorded in cost of sales, was $7million and $9million for the quarters ended June26, 2009 and June27, 2008, respectively, and $23million and $25million for the nine months ended June26, 2009 and June27, 2008, respectively. The estimated aggregate amortization expense on intangible assets currently owned by the Company is expected to be as follows: (in millions) Remainder of fiscal 2009 $ 8 Fiscal 2010 30 Fiscal 2011 29 Fiscal 2012 28 Fiscal 2013 28 Fiscal 2014 28 Thereafter 264 $ 415

Debt

Debt
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Debt	8.Debt Debt was as follows: June26, 2009 September26, 2008 (in millions) 6.00% senior notes due 2012(1) $ 812 $ 800 5.95% senior notes due 2014(1) 300 300 6.55% senior notes due 2017(1) 795 753 7.125% senior notes due 2037(1) 498 498 Commercial paper, at an average interest rate of 4.01% at September26, 2008 647 Other 174 183 Total debt 2,579 3,181 Less current portion(2) 1 20 Long-term debt $ 2,578 $ 3,161 (1) Senior notes are recorded at face amount, net of unamortized discount and the fair value of interest rate swaps. (2) The current portion of long-term debt at June26, 2009 and September26, 2008 was comprised of amounts shown as other. On June9, 2009, Tyco Electronics GroupS.A. ("TEGSA"), a wholly-owned subsidiary of the Company, commenced a tender offer to purchase up to $150million principal amount of its 6.00% senior notes due 2012, up to $100million principal amount of its 6.55% senior notes due 2017, and up to $100million principal amount of its 7.125% senior notes due 2037. The debt subject to the tender offer is reflected as long-term on the Company's Condensed Consolidated Balance Sheet as of June26, 2009. Subsequent to the quarter ended June26, 2009, the Company completed the tender offer. See Note21 for additional information regarding the tender offer. In April 2007, TEGSA entered into a five-year unsecured senior revolving credit facility ("Credit Facility"). In the quarter ended March27, 2009, $75million of the commitment was assigned by Lehman Brothers Bank, FSB to TEGSA, reducing the total effective commitment to $1,425million. At June26, 2009 and September26, 2008, TEGSA had no borrowings under the Credit Facility. The Credit Facility contains a financial ratio covenant that requires the Company to limit its ratio of Consolidated Total Debt (as defined in the Credit Facility) to Consolidated EBITDA (as defined in the Credit Facility) for the then most recently concluded period of four consecutive fiscal quarters to no more than 3.5 to 1.0. The Credit Facility and the Company's other debt agreements contain other customary covenants. During the first quarter of fiscal 2009, the Company terminated interest rate swaps designated as fair value hedges on $300million principal amount of the 6.55% senior notes and $200million principal amount of the 6.00% senior notes. Prior to the termination, the interest rate swaps were marked to fair value, resulting in premiums of $49million and $14million associated with the 6.55% senior notes and 6.00% senior notes, respectively. The premiums will be recognized as a reduction in interest expense over the life of the respective notes. See Notes11 and 21 for additional information on interest rate swaps. The fair value of the Company's debt was approximately $2,277million and $3,115million at June26, 2009 and September26, 2008, respectively.

Guarantees

Guarantees
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Guarantees	9.Guarantees Pursuant to the Separation and Distribution Agreement and Tax Sharing Agreement, upon Separation, the Company entered into certain guarantee commitments and indemnifications with Tyco International and Covidien. Under these agreements, principally the Tax Sharing Agreement, Tyco International, Covidien, and Tyco Electronics share 27%, 42%, and 31%, respectively, of certain contingent liabilities relating to unresolved pre-Separation tax matters of Tyco International. The effect of the Tax Sharing Agreement is to indemnify the Company for 69% of certain liabilities settled by the Company with respect to unresolved pre-Separation tax matters. Pursuant to that indemnification, the Company has made similar indemnifications to Tyco International and Covidien with respect to 31% of certain liabilities settled by the companies with respect to unresolved pre-Separation tax matters. If any of the companies responsible for all or a portion of such liabilities were to default in its payment of costs or expenses related to any such liability, the Company would be responsible for a portion of the defaulting party or parties' obligation. The Company's indemnification created under the Tax Sharing Agreement qualifies as a guarantee of a third party entity's debt under FIN45, "Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others." At June26, 2009 and September26, 2008, the Company had a FIN45 liability representing the indemnifications made to Tyco International and Covidien pursuant to the Tax Sharing Agreement of $339million which was reflected in other liabilities on the Condensed Consolidated Balance Sheets. In disposing of assets or businesses, the Company often provides representations, warranties, and/or indemnities to cover various risks including unknown damage to the assets, environmental risks involved in the sale of real estate, liability for investigation and remediation of environmental contamination at waste disposal sites and manufacturing facilities, and unidentified tax liabilities and legal fees related to periods prior to disposition. The Company does not have the ability to estimate the potential liability from such indemnities because they relate to unknown conditions. However, the Company has no reason to believe that these uncertainties would have a material adverse effect on the Company's results of operations, financial position, or cash flows. At June26, 2009, the Company had outstanding letters of credit and letters of guarantee in the amount of $341million, of which $50million was related to its contract with the State of New York. See Note12 for additional information regarding the State of New York contract. In the normal course of business, the Company is liable for contract completion and product performance. In the opinion of management, except for the charges related to the contract with the State of New York discussed below, such obligations will not significantly affect the Company's results of operations, financial position, or cash flows. As disclosed in Note12, in January 2009, the State of New York (the "State") d

Retirement Plans

Retirement Plans
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Retirement Plans	10.Retirement Plans The net periodic benefit cost (credit) for all U.S. and non-U.S. defined benefit pension plans and postretirement benefit plans in the quarters ended June26, 2009 and June27, 2008 was as follows: Defined Benefit Pension Plans PostretirementBenefitPlans U.S. Plans Non-U.S. Plans FortheQuartersEnded FortheQuartersEnded FortheQuartersEnded June26, 2009 June27, 2008 June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Service cost $ 2 $ 1 $ 15 $ 16 $ $ Interest cost 15 14 23 21 1 Expected return on plan assets (15 ) (19 ) (16 ) (18 ) Amortization of prior service costs (1 ) (1 ) Amortization of net actuarial loss 3 2 3 2 Settlement gain (1 ) Net periodic benefit cost (credit) $ 5 $ (2 ) $ 24 $ 19 $ 1 $ The net periodic benefit cost (credit) for all U.S. and non-U.S. defined benefit pension plans and postretirement benefit plans in the nine months ended June26, 2009 and June27, 2008 was as follows: Defined Benefit Pension Plans PostretirementBenefitPlans U.S. Plans Non-U.S. Plans FortheNineMonthsEnded FortheNineMonthsEnded FortheNineMonthsEnded June26, 2009 June27, 2008 June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Service cost $ 5 $ 4 $ 44 $ 46 $ $ Interest cost 44 42 67 61 2 2 Expected return on plan assets (46 ) (56 ) (48 ) (54 ) Amortization of prior service costs (1 ) (1 ) Amortization of net actuarial loss 11 5 10 6 Settlement gain (3 ) Net periodic benefit cost (credit) $ 14 $ (5 ) $ 72 $ 55 $ 2 $ 2 The Company anticipates that, at a minimum, it will make the minimum required contributions to its pension plans in fiscal 2009 of $4million for U.S. plans and $77million for non-U.S. plans. During the nine months ended June26, 2009, the Company contributed $70million to its U.S. and non-U.S. plans. The Company expects to make contributions to its postretirement benefit plans of $2million in fiscal 2009. During the nine months ended June26, 2009, Company contributions to its postretirement benefit plans were $1million. Subsequent to fiscal year end 2008, conditions have significantly deteriorated in debt and equity markets globally. The deterioration has had a negative effect on the fair value of the Company's U.S. and non-U.S. pension and postretirement benefit plans' assets since September26, 2008. The impact of the decline in plan assets on minimum required contributions or net periodic benefits cost in future periods could be material to the Company's results of operations, financial position, or cash flows.

Financial Instruments

Financial Instruments
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Financial Instruments	11.Financial Instruments The Company's financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, debt, and derivative financial instruments. The fair value of cash and cash equivalents, accounts receivable, and accounts payable approximated book value as of June26, 2009 and September26, 2008. See Note8 for disclosure of the fair value of debt and Note13 for additional information on fair value measurements. The Company uses derivative and non-derivative financial instruments to manage certain exposures to foreign currency, interest rate, and commodity risks. The Company accounts for derivative financial instrument contracts on its Condensed Consolidated Balance Sheets at fair value. For instruments not designated as hedges under SFAS No.133, the changes in the instruments' fair value are recognized as selling, general, and administrative expenses on the Condensed Consolidated Statements of Operations. For instruments designated as cash flow hedges under SFAS No.133, the effective portion of changes in the fair value of a derivative is recorded in other comprehensive income and reclassified into earnings in the same period or periods during which the underlying hedged item affects earnings. Ineffective portions of a cash flow hedge are recognized currently, based on the nature of the ineffectiveness, in cost of sales or selling, general, and administrative expenses on the Condensed Consolidated Statements of Operations. The Company's derivative financial instruments present certain market and counterparty risks; however, concentration of counterparty risk is mitigated as the Company deals with a variety of major financial institutions worldwide with long-term Standard Poor's, Moody's, and/or Fitch credit ratings of A/A2 or higher. In addition, only conventional derivative financial instruments are utilized. The Company is exposed to potential losses if a counterparty fails to perform according to the terms of its agreement. With respect to counterparty net asset positions recognized at June26, 2009, the Company has assessed the likelihood of counterparty default as remote. At this time, the Company is not required, nor does it require, collateral or other security to be furnished by the counterparties to its derivative financial instruments. The cash flows related to derivative financial instruments are reported in the operating activities section of the Condensed Consolidated Statements of Cash Flows. Foreign Exchange Risks As part of managing the exposure to changes in foreign currency exchange rates, the Company utilizes foreign exchange forward contracts, a portion of which are designated as cash flow hedges pursuant to SFAS No.133. The objective of these contracts is to minimize impacts to cash flows and profitability due to changes in foreign currency exchange rates on intercompany transactions, accounts receivable, accounts payable, and other cash transactions. At June26, 2009 and September26, 2008, the Company had net liabilities of $7million and $5million, respectively, on the Condensed Consolidated Balance Sheets related to foreign exchange instruments.

Commitments and Contingencies

Commitments and Contingencies
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Commitments and Contingencies	12.Commitments and Contingencies Tyco Electronics Legal Proceedings Intellectual Property and Antitrust Litigation The Company is a party to a number of patent infringement and antitrust actions that may require the Company to pay damage awards. The Company has assessed the status of these matters and has recorded liabilities related to certain of these matters where appropriate. Other Matters The Company is a defendant in a number of other pending legal proceedings incidental to present and former operations, acquisitions, and dispositions. The Company does not expect the outcome of these proceedings, either individually or in the aggregate, to have a material adverse effect on its results of operations, financial position, or cash flows. Legal Matters under Separation and Distribution Agreement The Separation and Distribution Agreement provided for the allocation among the Company, Tyco International, and Covidien of Tyco International's assets, liabilities, and obligations attributable to periods prior to the Company's and Covidien's separations from Tyco International on June29, 2007. Under the Separation and Distribution Agreement, the Company assumed the liability for, and control of, all pending and threatened legal matters at Separation related to the Company's business or assumed or retained liabilities, and will indemnify the other parties for any liability arising out of or resulting from such assumed legal matters. Tyco Electronics will be responsible for 31% of certain potential liabilities that may arise from litigation pending or threatened at Separation that was not allocated to one of the three parties, and Tyco International and Covidien are responsible for 27% and 42%, respectively, of such liabilities. If any party defaults in payment of its allocated share of any such liability, each non-defaulting party will be responsible for an equal portion of the amount in default together with any other non-defaulting party, although any such payments will not release the obligation of the defaulting party. Subject to the terms and conditions of the Separation and Distribution Agreement, Tyco International manages and controls all the legal matters related to the shared contingent liabilities, including the defense or settlement thereof, subject to certain limitations. All costs and expenses that Tyco International incurs in connection with the defense of such litigation, other than the amount of any judgment or settlement, which will be allocated in the manner described above, will be borne equally by Tyco International, Covidien, and the Company. Tyco International Legal Proceedings Securities Class Actions and Settlement As previously reported in the Company's periodic filings, prior to the announcement by Tyco International of the planned separation of Tyco Electronics and Covidien in January 2006, Tyco International and certain of its former directors and officers were named as defendants in over 40 purported securities class action lawsuits. As a part of the Separation and Distribution Agreement, any existing or potential liabilities related to the securities class actions were allocated a

Fair Value Measurements

Fair Value Measurements
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Fair Value Measurements	13.Fair Value Measurements The Company adopted SFAS No.157, "Fair Value Measurements," as of September27, 2008. SFAS No.157 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. In February 2008, the FASB issued FSP No. FAS157-2, "Effective Date of FASB Statement No.157," which delays the effective date of SFAS No.157 for non-financial assets and liabilities that are not measured at fair value on a recurring basis (at least annually) for one year. The Company will adopt the non-financial asset and liability fair value disclosures in fiscal 2010. The Company is currently assessing the impact of adopting SFAS No.157 for non-financial assets and liabilities on the Condensed Consolidated Financial Statements. SFAS No.157 specifies a fair value hierarchy based upon the observability of the inputs utilized in the valuation. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with SFAS No.157, fair value measurements are classified under the following hierarchy: Level1Quoted prices in active markets for identical assets and liabilities. Level2Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level3Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The adoption of SFAS No.157 had no effect on the Company's results of operations, financial position, or cash flows. Assets and liabilities recorded at fair value were as follows: Fair Value Measurements Using Inputs Considered as Fair Value at June26, 2009 Description Level1 Level2 Level3 (in millions) Assets: Commodity swap contracts $ 2 $ $ $ 2 Foreign currency contracts 1 1 Rabbi trust assets 75 75 Total assets at fair value $ 77 $ 1 $ $ 78 Liabilities: Foreign currency contracts $ $ 8 $ $ 8 The Company does not have significant financial assets or liabilities that are measured at fair value on a non-recurring basis. The following is a description of the valuation methodologies used for the respective assets and liabilities measured at fair value: Commodity swap contractsFair value of these assets and liabilities is determined using quoted futures exchanges (level1). Foreign currency contractsFair value of these assets and liabilities is determined based on observable market transactions of spot currency rates and f

Income Taxes

Income Taxes
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Income Taxes	14.Income Taxes The Company recorded a tax provision of $3million, an effective income tax rate of 9.7%, for the quarter ended June26, 2009 and recorded a tax provision of $191million, an effective income tax rate of 40.0%, for the quarter ended June27, 2008. The effective tax rate for the quarter ended June26, 2009 reflects the tax benefits recognized in connection with fiscal 2009 profitability in certain entities operating in lower tax rate jurisdictions partially offset by accruals of interest and taxes related to uncertain tax positions. The effective tax rate for the quarter ended June27, 2008 includes the effects of accruals related to the estimated tax impacts of certain intercompany dividends as well as accruals of interest and taxes related to uncertain tax positions. For the nine months ended June26, 2009, the Company recognized a tax benefit of $577million, an effective income tax rate of 15.4%, and for the nine months ended June27, 2008 recorded a tax provision of $502million, an effective income tax rate of 25.8%. The effective tax rate for the nine months ended June26, 2009 was impacted by the $3,547million pre-tax impairment of goodwill for which a tax benefit was not fully recognized, as well as a $144million pre-tax charge related to pre-Separation securities litigation, for which no tax benefit was recorded. For the nine months ended June27, 2008, the effective tax rate includes the impact of $572million of pre-tax income recognized in connection with the adoption of FIN48, "Accounting for Uncertainty in Income Taxesan interpretation of FASB Statement No.109," for which no tax was provided. In addition, the effective tax rate for the nine months ended June27, 2008 includes the effects of accruals of interest and taxes related to uncertain tax positions. The Company records accrued interest as well as penalties related to uncertain tax positions as part of the provision for income taxes. As of September26, 2008, the Company had recorded $1,110million of accrued interest and penalties related to uncertain tax positions on the Condensed Consolidated Balance Sheet, of which $1,106million was recorded in income taxes and $4million was recorded in accrued and other current liabilities. During the quarter and nine months ended June26, 2009, the Company recognized $38million and $100million, respectively, of interest and penalties on the Condensed Consolidated Statements of Operations. As of June26, 2009, the balance of accrued interest and penalties was $1,219million, of which $1,217million was recorded in income taxes and $2million was recorded in accrued and other current liabilities on the Condensed Consolidated Balance Sheet. In fiscal 2007, the IRS concluded its field examination of certain of Tyco International's U.S. federal income tax returns for the years 1997 through 2000. Tyco International is in the process of appealing certain tax adjustments proposed by the IRS related to this period. In the second quarter of fiscal 2008, the IRS commenced its field examination of certain Tyco International U.S. federal income tax returns for the years 2001 through 2004. Tyco International's U.S. federal tax filings

Other Income

Other Income
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Other Income	15.Other Income In the quarters ended June26, 2009 and June27, 2008, the Company recorded net other income of $5million and $1million, respectively, primarily consisting of income pursuant to the Tax Sharing Agreement with Tyco International and Covidien. In the nine months ended June26, 2009, the Company recorded net other income of $7million, primarily consisting of $9million of income pursuant to the Tax Sharing Agreement with Tyco International and Covidien offset by $2million of unrealized losses on rabbi trust assets. In the nine months ended June27, 2008, the Company recorded other income of $606million, pursuant to the Tax Sharing Agreement with Tyco International and Covidien, of which $572million related to certain incremental tax liabilities recorded by the Company upon the initial adoption of FIN48.

Shareholders Equity

Shareholders Equity
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Shareholders' Equity	16.Shareholders' Equity The following table sets forth the changes in the components of shareholder's equity: Common Shares Treasury Shares Accumulated Other Comprehensive Income Share Premium Contributed Surplus Accumulated Earnings (Deficit) Total Equity Shares Amount Shares Amount (in millions) Balance at September26, 2008 500 $ 100 (37 ) $ (1,264 ) $ 61 $ 10,106 $ 1,141 $ 929 $ 11,073 Adoption of EITF Issue No.06-10 (5 ) (5 ) Comprehensive loss: Net loss (3,349 ) (3,349 ) Currency translation (349 ) (349 ) Adjustments to unrecognized pension and postretirement benefit costs, net of income taxes 13 13 Gain on cash flow hedge 5 5 Total comprehensive loss (3,680 ) Change of Domicile: Reverse share split and issuance of fully paid up shares 1,101 (1,101 ) Cancellations of common shares held in treasury (32 ) (77 ) 32 1,018 (941 ) Reallocation of share premium to contributed surplus (61 ) 61 Compensation expense 40 40 Distributions and dividends declared (75 ) (147 ) (222 ) Exercise of share options 1 (1 ) Treasury shares acquired (2 ) (2 ) Restricted share award vestings and other activity 1 1 (1 ) Adjustment for pre-Separation tax matters (8 ) (8 ) Repurchase of common shares (6 ) (125 ) (125 ) Balance at June26, 2009 468 $ 1,049 (10 ) $ (371 ) $ $ 8,156 $ (2,361 ) $ 598 $ 7,071 Change of Domicile As discussed in Note1, effective June25, 2009, the Company changed its jurisdiction of incorporation from Bermuda to Switzerland. In connection with the Change of Domicile and in accordance with the laws of Switzerland, the par value of the Company's common shares increased from $0.20 per share to 2.60 Swiss Francs ("CHF") per share (or $2.40 based on an exchange rate in effect on June22, 2009). The Change of Domicile was approved at a special meeting of shareholders held on June22, 2009. The following steps occurred in connection with the Change of Domicile, which did not result in a change to total Shareholders' Equity: 1) the par value of common shares was increased from $0.20 to CHF2.60 through a 1-for-12 reverse share split, followed by the issuance of 11 fully paid bonus shares so t

Comprehensive Income

Comprehensive Income (Loss)
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Comprehensive Income (Loss)	17.Comprehensive Income (Loss) Comprehensive income (loss) consisted of the following: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Net income (loss) $ (74 ) $ 330 $ (3,349 ) $ 1,580 Currency translation(1) 137 (349 ) 233 Gain on cash flow hedge 3 2 5 5 Amortization of unrecognized pension and postretirement benefit costs, net of income taxes 4 2 13 5 Total comprehensive income (loss) $ 70 $ 334 $ (3,680 ) $ 1,823 (1) Includes hedge of net investment foreign exchange gains or losses, offsetting foreign exchange gains or losses attributable to the translation of the net investments.

Earnings

Earnings (Loss) Per Share
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Earnings (Loss) Per Share	18.Earnings (Loss) Per Share The computation of basic earnings (loss) per share is based on the Company's net income (loss) divided by the basic weighted-average number of common shares. The following table sets forth the denominators of the basic and diluted earnings (loss) per share computations: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Weighted-average shares outstanding: Basic 458 478 458 487 Share options and restricted share awards 1 4 3 Diluted 459 482 458 490 For the nine months ended June26, 2009, non-vested restricted share awards and non-vested options to purchase Tyco Electronics' common shares with underlying exercise prices less than the average market prices were outstanding, but were excluded from the calculation of diluted loss per share, as inclusion of these securities would have been antidilutive. Such shares not included in the computation of diluted loss per share were 1million for the nine months ended June26, 2009. Certain share options were not included in the computation of diluted (loss) earnings per share because the instruments' underlying exercise prices were greater than the average market prices of Tyco Electronics' common shares and inclusion would be antidilutive. Such shares not included in the computation of diluted earnings per share were 21million and 16million as of June26, 2009 and June27, 2008, respectively.

Share Plans

Share Plans
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Share Plans	19.Share Plans The Company follows the provisions of SFAS No.123(R). Total share-based compensation costs included on the Condensed Consolidated Statements of Operations were $12million and $13million during the quarters ended June26, 2009 and June27, 2008, respectively, of which $1million was included in income (loss) from discontinued operations for the quarter ended June27, 2008. During the nine months ended June26, 2009 and June27, 2008, total share-based compensation costs were $40million and $48million, respectively, of which $2million and $3million, respectively, were included in income (loss) from discontinued operations. All share-based compensation costs not related to discontinued operations are presented in selling, general, and administrative expenses. Restricted Share Awards A summary of the Company's outstanding restricted share awards as of June26, 2009 and changes during the nine months then ended are presented below: Non-vested Restricted Share Awards Shares Weighted-Average Grant-Date Fair Value Non-vested at September26, 2008 3,328,270 $ 36.97 Granted 2,897,278 14.26 Vested (902,148 ) 33.67 Forfeited (540,061 ) 23.07 Non-vested at June26, 2009 4,783,339 $ 25.41 As of June26, 2009, there were $66million of unrecognized compensation costs related to non-vested Tyco Electronics restricted share awards. That cost is expected to be recognized over a weighted-average period of 2.6years. Share Options A summary of the Company's outstanding share option award grants as of June26, 2009 and changes during the nine months then ended are presented below: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in years) (in millions) Outstanding at September26, 2008 25,465,020 $ 43.81 Granted 4,260,100 14.43 Exercised (33,717 ) 16.46 Expired (2,468,005 ) 51.38 Forfeited (564,572 ) 29.80 Outstanding at June26, 2009 26,658,826 $ 38.74 4.7 $ 24 Vested and non-vested expected to vest at June26, 2009 25,737,551 $ 39.28 4.7 $ 22 Exercisable at June26, 2009 19,737,826 $ 43.80 3.3 $ 8 As of June26, 2009, there were $34million of total unrecognized compensation costs related to non-vested Tyco Electronics share options granted under Tyco Electronics share option plans. The cost is expected to be recognized over a weighted-average period of 2.5years. Share-Based Compensation The weighted-average grant-date fair value of options granted during the nine months ended June26, 2009 and the weighted-average assumptions the Company used in the Black-Scholes-Merton option pricing model for the nine months then ended were as follows: Weighted-average grant-date fair value $ 3.54 Assumptions: Expected share price volatility 39 % Risk free interest rate 2.4 % Expected annual dividend per share

Segment Data

Segment Data
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Segment Data	20.Segment Data The Company sold its Wireless Systems business in May 2009. Beginning in the third quarter of fiscal 2009, the Wireless Systems business has been reclassified as discontinued operations. See Note4 for additional information regarding discontinued operations and the divestiture of the Wireless Systems business. Prior to reclassification to held for sale and discontinued operations, this business was reported as the Company's former Wireless Systems segment. Effective January1, 2009, the Company established the Specialty Products Group from its existing businesses. Beginning in the second quarter of fiscal 2009, the results of this new organization are reported as a separate reporting segment. This new segment is comprised of the Medical Products, Circuit Protection, Touch Systems, and Aerospace, Defense, and Marine businesses which were formerly reported in the Electronic Components segment. The following segment information reflects the Company's current segment reporting structure. Prior period segment results have been reclassified to conform to the current presentation. Net sales by segment for the quarters and nine months ended June26, 2009 and June27, 2008 were as follows: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Electronic Components $ 1,424 $ 2,467 $ 4,329 $ 7,022 Network Solutions 425 574 1,283 1,602 Specialty Products 340 463 1,053 1,310 Undersea Telecommunications 319 278 893 863 Total(1) $ 2,508 $ 3,782 $ 7,558 $ 10,797 (1) Intersegment sales were not material and were recorded at selling prices that approximate market prices. Operating income (loss) by segment for the quarters and nine months ended June26, 2009 and June27, 2008 was as follows: For the Quarters Ended For the Nine Months Ended June26, 2009 June27, 2008 June26, 2009 June27, 2008 (in millions) Electronic Components $ (82 ) $ 333 $ (3,754 )(1) $ 949 Network Solutions 31 66 96 186 Specialty Products 42 83 (13 )(1) 231 Undersea Telecommunications 73 40 165 122 Pre-Separation litigation charges, net (7 ) (144 ) (30 ) Operating income (loss) $ 64 $ 515 $ (3,650 ) $ 1,458 (1) The Electronic Components and Specialty Products segments recorded charges of $3,435million and $112million, respectively, related to the impairment of goodwill. See Note6 for additional information regarding the impairment of goodwill. Segment assets and a reconciliation of segment assets to total assets at June26, 2009 and September26, 2008 were as follows: June26, 2009 September26, 2008 (in millions) Electronic Components $ 4,237 $ 5,578 Network Solutions 950 1,139 Specialty Products 638 786 Undersea Telecommunications 716 654 Total segment assets(1) 6

Subsequent Events

Subsequent Events
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Subsequent Events	21.Subsequent Events On June9, 2009, TEGSA commenced a tender offer to purchase up to $150million principal amount of its 6.00% senior notes due 2012, up to $100million principal amount of its 6.55% senior notes due 2017, and up to $100million principal amount of its 7.125% senior notes due 2037. On July7, 2009, the tender offer expired and on July9, 2009, TEGSA purchased and cancelled $86million principal amount of its 6.00% senior notes due 2012, $42million principal amount of its 6.55% senior notes due 2017, and $23million principal amount of its 7.125% senior notes due 2037 for an aggregate payment of $141million, plus paid accrued interest through July7, 2009 of $3million to the sellers of the notes. As a result of the transaction, in the quarter ending September25, 2009, the Company will record a pre-tax gain of approximately $22million, including the write-off of unamortized discounts and fees of $1million and the recognition of a gain of $12million associated with terminated interest rate swaps previously designated as fair value hedges. Additionally, as a result of the re-purchase and cancellation, unamortized losses in accumulated other comprehensive income of $3million related to terminated starting forward interest rate swaps designated as cash flow hedges will be recognized as interest expense. The Company has evaluated subsequent events through July31, 2009, the date on which the financial statements were issued.

Tyco Electronics Group, S.A.

Tyco Electronics Group, S.A.
	9 Months Ended Jun. 26, 2009 USD / shares
Notes To Financial Statements
Tyco Electronics Group S.A.	22.Tyco Electronics GroupS.A. In December 2006, prior to the Separation, TEGSA, a 100% owned subsidiary of Tyco ElectronicsLtd., was formed. TEGSA, a Luxembourg company, is a holding company that owns directly, or indirectly, all of the operating subsidiaries of Tyco ElectronicsLtd. TEGSA is the obligor under the Company's senior notes, five-year unsecured senior revolving credit facility, and commercial paper, all of which are fully and unconditionally guaranteed by its parent, Tyco ElectronicsLtd. The following tables present condensed consolidating financial information for Tyco ElectronicsLtd., TEGSA, and all other subsidiaries that are not providing a guarantee of debt but which represent assets of TEGSA, using the equity method. CONSOLIDATING STATEMENT OF OPERATIONS For the Quarter Ended June26, 2009 Tyco ElectronicsLtd. Tyco Electronics GroupS.A. Other Subsidiaries Consolidating Adjustments Total (in millions) Net sales $ $ $ 2,508 $ $ 2,508 Cost of sales 1,921 1,921 Gross income 587 587 Selling, general, and administrative expenses 48 3 279 330 Research, development, and engineering expenses 130 130 Restructuring and other charges, net 63 63 Operating income (loss) (48 ) (3 ) 115 64 Interest income 4 4 Interest expense (38 ) (4 ) (42 ) Other income, net 5 5 Equity in net income (loss) of subsidiaries (22 ) 96 (74 ) Equity in net loss of subsidiaries of discontinued operations (100 ) 100 Intercompany interest and fees (4 ) 23 (19 ) Income (loss) from continuing operations before income taxes and minority interest (74 ) (22 ) 101 26 31 Income tax expense (3 ) (3 ) Minority interest (2 ) (2 ) Income (loss) from continuing operations (74 ) (22 ) 96 26 26 Loss from discontinued operations, net of income taxes (100 ) (100 ) Net loss $ (74 ) $ (22 ) $ (4 ) $ 26 $ (74 ) CONSOLIDATING STATEMENT OF OPERATIONS For the Quarter Ended June27, 2008 Tyco ElectronicsLtd. Tyco Electronics GroupS.A. Other Subsidiaries Consolidating Adjustments Total (in millions) Net sales $ $ $ 3,782 $ $ 3,782 Cost of sales 2,683 2,683 Gross income 1,099 1,099 Selling, general, and administrative expenses 7 9 393 409 Research, development, and engineering expenses 152 152 Pre-Separation litigation charges, net 7 7 Restructuring and other charges, net 16 16 Operating income (loss) (14 ) (9 ) 538 51

Document and Entity Information

Document and Entity Information (USD $)
	3 Months Ended Jun. 26, 2009	Jul. 28, 2009	Mar. 28, 2008
Document And Entity Information
Entity Registrant Name	Tyco Electronics Ltd.
Entity Central Index Key	0001385157
Document Type	10-Q
Document Period End Date	2009-06-26
Amendment Flag	false
Current Fiscal Year End Date	--09-25
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$16,877,092,166
Entity Common Stock, Shares Outstanding		458,671,009