TE CONNECTIVITY LTD.
IMPACT OF ADDITIONAL WEEK (UNAUDITED)
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| Fiscal 2016 |
| Change in Net Sales for Fiscal 2017 |
| Change in Organic Net Sales for Fiscal 2017 |
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| Adjustment |
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| Adjustment |
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| 53 Weeks |
| Impact of |
| 52 Weeks |
| 53 Weeks |
| Impact of |
| 52 Weeks |
| 53 Weeks |
| Impact of |
| 52 Weeks |
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| Fiscal 2017 |
| U.S. GAAP |
| 53rd Week |
| (Non-GAAP) (1)(2) |
| U.S. GAAP |
| 53rd Week |
| (Non-GAAP) (1)(2) |
| (Non-GAAP) (2) |
| 53rd Week |
| (Non-GAAP) (1)(2) |
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Net Sales: |
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Transportation Solutions |
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Automotive |
| $ | 5,228 |
| $ | 4,912 |
| $ | (102 | ) | $ | 4,810 |
| 6.4 | % | 2.3 | % | 8.7 | % | 7.1 | % | 2.3 | % | 9.4 | % |
Commercial transportation |
| 997 |
| 825 |
| (15 | ) | 810 |
| 20.8 |
| 2.3 |
| 23.1 |
| 21.9 |
| 2.2 |
| 24.1 |
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Sensors |
| 814 |
| 766 |
| (13 | ) | 753 |
| 6.3 |
| 1.8 |
| 8.1 |
| 3.0 |
| 1.7 |
| 4.7 |
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Total |
| 7,039 |
| 6,503 |
| (130 | ) | 6,373 |
| 8.2 |
| 2.3 |
| 10.5 |
| 8.5 |
| 2.1 |
| 10.6 |
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Industrial Solutions |
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Industrial equipment |
| 1,747 |
| 1,419 |
| (32 | ) | 1,387 |
| 23.1 |
| 2.9 |
| 26.0 |
| 5.5 |
| 2.4 |
| 7.9 |
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Aerospace, defense, oil, and gas |
| 1,075 |
| 1,100 |
| (20 | ) | 1,080 |
| (2.3 | ) | 1.8 |
| (0.5 | ) | (1.7 | ) | 1.8 |
| 0.1 |
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Energy |
| 685 |
| 696 |
| (13 | ) | 683 |
| (1.6 | ) | 1.9 |
| 0.3 |
| (1.0 | ) | 1.9 |
| 0.9 |
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Total |
| 3,507 |
| 3,215 |
| (65 | ) | 3,150 |
| 9.1 |
| 2.2 |
| 11.3 |
| 1.6 |
| 2.1 |
| 3.7 |
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Communications Solutions |
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Data and devices |
| 963 |
| 1,019 |
| (21 | ) | 998 |
| (5.5 | ) | 2.0 |
| (3.5 | ) | 2.3 |
| 2.3 |
| 4.6 |
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Appliances |
| 676 |
| 615 |
| (11 | ) | 604 |
| 9.9 |
| 2.0 |
| 11.9 |
| 10.8 |
| 2.2 |
| 13.0 |
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Total |
| 1,639 |
| 1,634 |
| (32 | ) | 1,602 |
| 0.3 |
| 2.0 |
| 2.3 |
| 5.7 |
| 2.2 |
| 7.9 |
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Total |
| $ | 12,185 |
| $ | 11,352 |
| $ | (227 | ) | $ | 11,125 |
| 7.3 | % | 2.2 | % | 9.5 | % | 6.1 | % | 2.2 | % | 8.3 | % |
For the Year Ended September 30, 2016
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| Adjustments |
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| Restructuring |
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| Acquisition |
| and Other |
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| 53 Weeks |
| Adjustment |
| 52 Weeks |
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| Related |
| Charges |
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| Adjusted |
| Impact of |
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| U.S. GAAP |
| Charges (3) |
| (Credits), Net |
| Tax Items (4) |
| (Non-GAAP) (2) |
| 53rd Week |
| (Non-GAAP) (1)(2) |
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| ($in millions, except per share data) |
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Operating Income |
| $ | 1,808 |
| $ | 32 |
| $ | (2 | ) | $ | — |
| $ | 1,838 |
| $ | (53 | ) | $ | 1,785 |
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Operating Margin |
| 15.9 | % |
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| 16.2 | % |
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| 16.0 | % |
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Diluted Earnings per Share from Continuing Operations |
| $ | 5.01 |
| $ | 0.07 |
| $ | (0.01 | ) | $ | (1.25 | ) | $ | 3.82 |
| $ | (0.12 | ) | $ | 3.70 |
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(1) Excludes the impact of an additional week in the fourth quarter of fiscal 2016. The impact of the additional week was estimated using an average weekly sales figure for the last month of the fiscal year.
(2) See description of non-GAAP financial measures.
(3) Includes $22 million of acquisition and integration costs and $10 million of non-cash amortization associated with fair value adjustments related to acquired inventories and customer order backlog recorded in cost of sales.
(4) Includes $1,135 million of income tax benefits associated with the settlement of tax matters for the years 1997 through 2000 which resolved all aspects of the disputed debt matter with the IRS through the year 2007, as well as the related impact of $604 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien. Also includes income tax charges related to a $91 million increase in the valuation allowance for certain U.S. deferred tax assets; and an $83 million net income tax benefit related to tax settlements in certain other tax jurisdictions, as well as the related impact of $46 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien.