Sensata Technologies Holding (ST) 10-Q 26 Apr 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 15, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-34652
Entity Registrant Name	SENSATA TECHNOLOGIES HOLDING PLC
Entity Incorporation, State or Country Code	X0
Entity Tax Identification Number	98-1386780
Entity Address, Address Line One	529 Pleasant Street
Entity Address, City or Town	Attleboro
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02703
Entity Address, Country	US
City Area Code	+1 (508)
Local Phone Number	236 3800
Title of 12(b) Security	Ordinary Shares - nominal value €0.01 per share
Trading Symbol	ST
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		156,917,754
Entity Central Index Key	0001477294
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
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
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)
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

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands	Mar. 31, 2022USD ($)shares	Mar. 31, 2022€ / shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2021€ / shares
Statement of Financial Position [Abstract]
Accounts receivable, allowances | $	$ 28,001		$ 17,003
Accumulated amortization | $	$ 2,314,755		$ 2,277,393
Ordinary shares, nominal value per share (in euros per share) | € / shares		€ 0.01		€ 0.01
Ordinary shares authorized (in shares)	177,069,000		177,069,000
Ordinary shares issued (in shares)	174,583,000		174,287,000
Treasury shares (in shares)	17,576,000		16,438,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net revenue	$ 975,770	$ 942,528
Operating costs and expenses:
Cost of revenue	657,080	635,349
Research and development	45,980	35,956
Selling, general and administrative	95,680	77,123
Amortization of intangible assets	37,367	32,064
Restructuring and other charges, net	13,733	4,582
Total operating costs and expenses	849,840	785,074
Operating income	125,930	157,454
Interest expense, net	(45,445)	(44,043)
Other, net	(50,456)	(39,397)
Income before taxes	30,029	74,014
Provision for income taxes	7,588	20,281
Net income	$ 22,441	$ 53,733
Basic net income per share (in dollars per share)	$ 0.14	$ 0.34
Diluted net income per share (in dollars per share)	$ 0.14	$ 0.34

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
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

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 22,441	$ 53,733
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	31,531	31,197
Amortization of debt issuance costs	1,716	1,711
Share-based compensation	6,540	5,099
Loss on debt financing	0	30,066
Amortization of intangible assets	37,367	32,064
Deferred income taxes	(340)	130
Acquisition-related compensation payments	7,500	0
Mark-to-market loss on equity investments, net	59,279	0
Unrealized (gain)/loss on derivative instruments and other	(517)	8,797
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, net	(49,821)	(62,198)
Inventories	(53,004)	(16,857)
Prepaid expenses and other current assets	(8,807)	(4,971)
Accounts payable and accrued expenses	13,488	26,409
Income taxes payable	(7,268)	2,283
Other	2,250	(2,952)
Net cash provided by operating activities	47,355	104,511
Cash flows from investing activities:
Acquisitions, net of cash received	(48,441)	(20,406)
Additions to property, plant and equipment and capitalized software	(35,711)	(27,172)
Investment in debt and equity securities	(6,853)	(1,799)
Other	152	340
Net cash used in investing activities	(90,853)	(49,037)
Cash flows from financing activities:
Proceeds from exercise of stock options and issuance of ordinary shares	13,348	10,556
Payment of employee restricted stock tax withholdings	(135)	(221)
Proceeds from borrowings on debt	0	750,000
Payments on debt	(2,931)	(752,753)
Payments to repurchase ordinary shares	(67,258)	0
Payments of debt financing costs	0	(31,110)
Net cash used in financing activities	(56,976)	(23,528)
Net change in cash and cash equivalents	(100,474)	31,946
Cash and cash equivalents, beginning of year	1,708,955	1,861,980
Cash and cash equivalents, end of period	$ 1,608,481	$ 1,893,926

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Ordinary Shares	Treasury Shares	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2020		173,266	(15,631)
Beginning balance at Dec. 31, 2020	$ 2,705,486	$ 2,220	$ (784,596)	$ 1,759,668	$ 1,777,729	$ (49,535)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Surrender of shares for tax withholding (in shares)			(4)
Surrender of shares for tax withholding	(221)		$ (221)
Stock options exercised (in shares)		259
Stock options exercised	10,556	$ 3		10,553
Vesting of restricted securities (in shares)		12
Retirement of ordinary shares (in shares)		(4)	(4)
Retirement of ordinary shares	0		$ 221		(221)
Share-based compensation	5,099			5,099
Net income	53,733				53,733
Other comprehensive income	15,990					15,990
Ending balance (in shares) at Mar. 31, 2021		173,533	(15,631)
Ending balance at Mar. 31, 2021	2,790,643	$ 2,223	$ (784,596)	1,775,320	1,831,241	(33,545)
Beginning balance (in shares) at Dec. 31, 2021		174,287	(16,438)
Beginning balance at Dec. 31, 2021	3,094,734	$ 2,232	$ (832,439)	1,812,244	2,132,257	(19,560)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Surrender of shares for tax withholding (in shares)			(3)
Surrender of shares for tax withholding	(135)		$ (135)
Stock options exercised (in shares)		290
Stock options exercised	12,717	$ 4		12,713
Vesting of restricted securities (in shares)		9
Repurchase of ordinary shares (in shares)			(1,138)
Repurchase of ordinary shares	(67,258)		$ (67,258)
Retirement of ordinary shares (in shares)		(3)	(3)
Retirement of ordinary shares	0		$ 135		(135)
Share-based compensation	6,540			6,540
Net income	22,441				22,441
Other comprehensive income	3,278					3,278
Ending balance (in shares) at Mar. 31, 2022		174,583	(17,576)
Ending balance at Mar. 31, 2022	$ 3,072,317	$ 2,236	$ (899,697)	$ 1,831,497	$ 2,154,563	$ (16,282)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect the financial position, results of operations, comprehensive 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, 2021 filed with the U.S. Securities and Exchange Commission (the "SEC") on February 10, 2022 (the "2021 Annual Report"). All U.S. dollar ("USD") and share amounts presented, except per share amounts, are stated in thousands, unless otherwise indicated.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting StandardsThere are no recently issued accounting standards that have been adopted in the current period or will be adopted in future periods that have had or are expected to have a material impact on our consolidated financial position or results of operations.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	Revenue Recognition The following table presents net revenue disaggregated by segment and end market for the three months ended March 31, 2022 and 2021: 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 Automotive $ 502,362 $ 9,285 $ 511,647 $ 536,713 $ 11,500 $ 548,213 HVOR (1) 215,335 — 215,335 177,799 — 177,799 Industrial — 114,619 114,619 — 90,475 90,475 Appliance and HVAC (2) — 58,825 58,825 — 59,916 59,916 Aerospace — 33,270 33,270 — 32,677 32,677 Other — 42,074 42,074 — 33,448 33,448 Total $ 717,697 $ 258,073 $ 975,770 $ 714,512 $ 228,016 $ 942,528 ________________________ (1) Heavy vehicle and off-road (2) Heating, ventilation and air conditioning

Share-Based Payment Plans

Share-Based Payment Plans	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Payment Plans	Share-Based Payment Plans The following table presents the components of non-cash compensation expense related to our equity awards for the three months ended March 31, 2022 and 2021: 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

Restructuring and Other Charges

Restructuring and Other Charges, Net	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges, Net	Restructuring and Other Charges, Net The following table presents the components of restructuring and other charges, net for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Q2 2020 Global Restructure Program charges $ — $ 1,824 Other restructuring and other charges, net Severance costs, net 587 186 Facility and other exit costs 1,048 666 Other (1) 12,098 1,906 Restructuring and other charges, net $ 13,733 $ 4,582 ________________________ (1) Primarily includes expenses related to acquisition-related incentive compensation, partially offset by a gain resulting from reduction of the liability for contingent consideration for Spear Power Systems ("Spear"). Refer to Note 16: Acquisitions for additional information. The following table presents a rollforward of the severance portion of our restructuring obligations for the three months ended March 31, 2022. Q2 2020 Global Restructure Program Other Total Balance as of December 31, 2021 $ 3,853 $ 3,380 $ 7,233 Charges, net of reversals — 587 587 Payments (2,955) (1,130) (4,085) Foreign currency remeasurement (6) 12 6 Balance as of March 31, 2022 $ 892 $ 2,849 $ 3,741 The severance liability as of March 31, 2022 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheet.

Other, Net

Other, Net	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Other, Net	Other, Net The following table presents the components of other, net for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Currency remeasurement loss on net monetary assets $ (67) $ (1,477) Loss on foreign currency forward contracts (1,243) (958) Gain/(loss) on commodity forward contracts 9,424 (1,153) Loss on debt financing — (30,066) Mark-to-market loss on investments, net (59,279) — Net periodic benefit cost, excluding service cost (755) (2,410) Other 1,464 (3,333) Other, net $ (50,456) $ (39,397)

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents the provision for income taxes for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Provision for income taxes $ 7,588 $ 20,281 The decrease in total tax for the three months ended March 31, 2022 compared to the three months ended March 31, 2021 was predominantly related to the overall decrease in income before taxes, driven in part by the mark-to-market loss on our investment in Quanergy as discussed in Note 14: Fair Value Measures . The provision 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.

Net Income per Share

Net Income per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income per Share	Net Income per Share Basic and diluted net income per share are calculated by dividing net income by the number of basic and diluted weighted-average ordinary shares outstanding during the period. For the three months ended March 31, 2022 and 2021 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows: 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 Certain potential ordinary shares were excluded from our calculation of diluted weighted-average ordinary shares outstanding because either they would have had an anti-dilutive effect on net income per share or they related to equity awards that were contingently issuable for which the contingency had not been satisfied. These potential ordinary shares were as follows: For the three months ended March 31, 2022 March 31, 2021 Anti-dilutive shares excluded 4 6 Contingently issuable shares excluded 1,002 950

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories The following table presents the components of inventories as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Finished goods $ 222,375 $ 201,424 Work-in-process 114,496 101,558 Raw materials 304,838 285,249 Inventories $ 641,709 $ 588,231

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefits	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Pension and Other Post-Retirement Benefits	Pension and Other Post-Retirement Benefits The following table presents the components of net periodic benefit cost/(credit) associated with our defined benefit and retiree healthcare plans for the three months ended March 31, 2022 and 2021: 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 Components of net periodic benefit cost/(credit) other than service cost are presented in other, net in the condensed consolidated statements of operations. Refer to Note 6: Other, Net .

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt The following table presents the components of long-term debt, finance lease and other financing obligations as of March 31, 2022 and December 31, 2021: 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 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 March 31, 2022, no amounts had been drawn against these outstanding letters of credit. In the three months ended March 31, 2021, in connection with the redemption of $750.0 million aggregate principal amount of 6.25% senior notes due 2026 (the "6.25% Senior Notes"), we 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. Accrued Interest Accrued interest associated with our outstanding debt is included as a component of accrued expenses and other current liabilities in the condensed consolidated balance sheets. As of March 31, 2022 and December 31, 2021, accrued interest totaled $63.1 million and $45.1 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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 condition, and/or cash flows.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Treasury Shares 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. On January 20, 2022, we announced that our Board of Directors had authorized a new $500.0 million ordinary share repurchase program (the “January 2022 Program”), which 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 for repurchase under the January 2022 Program. Accumulated Other Comprehensive Loss The following table presents the components of accumulated other comprehensive loss for the three months ended March 31, 2022: Cash Flow Hedges Defined Benefit and Retiree Healthcare Plans Accumulated Other Comprehensive Loss Balance as of December 31, 2021 $ 16,831 $ (36,391) $ (19,560) Other comprehensive income before reclassifications, net of tax 7,965 — 7,965 Reclassifications from accumulated other comprehensive loss, net of tax (5,115) 428 (4,687) Other comprehensive income 2,850 428 3,278 Balance as of March 31, 2022 $ 19,681 $ (35,963) $ (16,282) The following table presents the amounts reclassified from accumulated other comprehensive loss for the three months ended March 31, 2022 and 2021: For the three months ended March 31, Affected Line in Condensed Consolidated Statements of Operations Component 2022 2021 Derivative instruments designated and qualifying as cash flow hedges: Foreign currency forward contracts $ (4,264) $ 4,407 Net revenue (1) Foreign currency forward contracts (2,629) (743) Cost of revenue (1) Total, before taxes (6,893) 3,664 Income before taxes Income tax effect 1,778 (916) Provision for income taxes Total, net of taxes $ (5,115) $ 2,748 Net income Defined benefit and retiree healthcare plans $ 611 $ 2,269 Other, net (2) Income tax effect (183) (557) Provision for income taxes Total, net of taxes $ 428 $ 1,712 Net income __________________________ (1) Refer to Note 15: Derivative Instruments and Hedging Activities for additional information on amounts to be reclassified from accumulated other comprehensive loss in future periods. (2) Refer to Note 10: Pension and Other Post-Retirement Benefits for additional information on net periodic benefit cost/(credit).

Fair Value Measures

Fair Value Measures	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measures	Fair Value Measures Measured on a Recurring Basis The fair values of our assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 are shown in the below table. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. March 31, 2022 December 31, 2021 Assets Foreign currency forward contracts $ 29,063 $ 25,112 Commodity forward contracts 8,474 2,979 Total $ 37,537 $ 28,091 Liabilities Foreign currency forward contracts $ 3,682 $ 3,073 Commodity forward contracts 1,752 4,492 Total $ 5,434 $ 7,565 Refer to Note 15: Derivative Instruments and Hedging Activities for additional information related to our forward contracts. Quanergy 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. Upon closing of the business combination, our investment in Quanergy comprised the following: • 5.0 million common shares, which represented the conversion of our $50 million Series B Preferred Stock investment (at a $10 per share implied valuation); • 750,000 unregistered common shares, representing a $7.5 million private investment in public equity ("PIPE") contribution; and • 2.5 million common shares (the "Warrant Shares"), representing the conversion of 2.5 million warrants provided by Quanergy as up-front consideration for a four-year technical and marketing support agreement (the "Support Agreement"). 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, February 8, 2022, and December 31, 2021, which is presented in other assets on our consolidated balance sheets as of March 31, 2022 and December 31, 2021. As of March 31, 2022 February 8, 2022 December 31, 2021 Series B Preferred Stock $ — $ — $ 50,000 Common shares 9,200 50,000 — PIPE investment 1,380 7,500 — Warrant Shares 4,575 17,600 — Total equity investment in Quanergy $ 15,155 $ 75,100 $ 50,000 For the three months ended March 31, 2022 Mark-to-market loss $ 59,945 The mark-to-market loss presented in the table above is presented in other, net, and is the result of the decline in Quanergy share price to $1.84 per share on 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. Measured on a Nonrecurring Basis We evaluated our goodwill and other indefinite-lived intangible assets for impairment as of October 1, 2021 and determined that they were not impaired. During the three months ended March 31, 2022, no events or changes in circumstances occurred that would have triggered the need for an additional impairment review of these assets. Financial Instruments Not Recorded at Fair Value The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. March 31, 2022 December 31, 2021 Carrying Value (1) Fair Value Carrying Value (1) Fair Value Liabilities Term Loan $ 450,308 $ 449,182 $ 451,465 $ 450,901 4.875% Senior Notes $ 500,000 $ 512,500 $ 500,000 $ 526,250 5.625% Senior Notes $ 400,000 $ 416,000 $ 400,000 $ 438,000 5.0% Senior Notes $ 700,000 $ 714,875 $ 700,000 $ 759,500 4.375% Senior Notes $ 450,000 $ 432,000 $ 450,000 $ 479,250 3.75% Senior Notes $ 750,000 $ 690,938 $ 750,000 $ 747,188 4.0% Senior Notes $ 1,000,000 $ 942,500 $ 1,000,000 $ 1,022,500 ___________________________________ (1) Excluding any related debt discounts, premiums, and deferred financing costs. Cash and cash equivalents are carried at cost, which approximates fair value because of their short-term nature. 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 FASB ASC Topic 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. Refer to the table below for the carrying values of equity investments using the measurement alternative, which are presented as a component of other assets in the condensed consolidated balance sheets. March 31, 2022 December 31, 2021 Quanergy Systems, Inc. (1) $ — $ 50,000 Other 15,000 15,000 Total $ 15,000 $ 65,000 ___________________________________ (1) As of March 31, 2022, Quanergy is no longer classified as an equity investment without a readily determinable fair value. See additional discussion under the heading Quanergy elsewhere in this Note.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Hedges of Foreign Currency Risk For the three months ended March 31, 2022 and 2021, 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 March 31, 2022, we estimated that $23.7 million of net gains will be reclassified from accumulated other comprehensive loss to earnings during the twelve-month period ending March 31, 2023. As of March 31, 2022, we had the following outstanding foreign currency forward contracts: Notional Effective Date(s) Maturity Date(s) Index (Exchange Rates) Weighted-Average Strike Rate Hedge Designation (1) 15.0 EUR March 29, 2022 April 29, 2022 Euro ("EUR") to USD 1.11 USD Not designated 349.6 EUR Various from May 2020 to March 2022 Various from April 2022 to March 2024 EUR to USD 1.19 USD Cash flow hedge 1,170.0 CNY Various in March 2022 Various in April 2022 USD to Chinese Renminbi ("CNY") 6.38 CNY Not designated 1,134.3 CNY Various from October 2021 to March 2022 Various from April 2022 to December 2022 USD to CNY 6.44 CNY Cash flow hedge 684.0 JPY March 29, 2022 April 28, 2022 USD to Japanese Yen ("JPY") 122.02 JPY Not designated 24,400.0 KRW Various from May 2020 to March 2022 Various from April 2022 to February 2024 USD to Korean Won ("KRW") 1,170.98 KRW Cash flow hedge 24.0 MYR March 28, 2022 April 29, 2022 USD to Malaysian Ringgit ("MYR") 4.21 MYR Not designated 259.0 MXN March 29, 2022 April 29, 2022 USD to Mexican Peso ("MXN") 20.05 MXN Not designated 3,477.3 MXN Various from May 2020 to March 2022 Various from April 2022 to March 2024 USD to MXN 22.11 MXN Cash flow hedge 52.4 GBP Various from May 2020 to March 2022 Various from April 2022 to March 2024 British Pound Sterling ("GBP") to USD 1.36 USD Cash flow hedge _________________________ (1) Derivative financial instruments not designated as hedges are used to manage our exposure to currency exchange rate risk. They are intended to preserve economic value, and they are not used for trading or speculative purposes. Hedges of Commodity Risk As of March 31, 2022, we had the following outstanding commodity forward contracts, none of which were designated for hedge accounting treatment in accordance with FASB ASC Topic 815, Derivatives and Hedging : Commodity Notional Remaining Contracted Periods Weighted-Average Strike Price Per Unit Silver 1,109,868 troy oz. April 2022 - February 2024 $24.72 Gold 8,380 troy oz. April 2022 - February 2024 $1,833.55 Nickel 250,238 pounds April 2022 - February 2024 $8.69 Aluminum 3,851,210 pounds April 2022 - February 2024 $1.17 Copper 7,740,838 pounds April 2022 - February 2024 $4.30 Platinum 11,588 troy oz. April 2022 - February 2024 $1,045.40 Palladium 1,408 troy oz. April 2022 - February 2024 $2,383.12 Financial Instrument Presentation The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021: Asset Derivatives Liability Derivatives Balance Sheet Location March 31, 2022 December 31, 2021 Balance Sheet Location March 31, 2022 December 31, 2021 Derivatives designated as hedging instruments Foreign currency forward contracts Prepaid expenses and other current assets $ 24,946 $ 20,562 Accrued expenses and other current liabilities $ 2,656 $ 1,981 Foreign currency forward contracts Other assets 4,063 4,391 Other long-term liabilities 683 904 Total $ 29,009 $ 24,953 $ 3,339 $ 2,885 Derivatives not designated as hedging instruments Commodity forward contracts Prepaid expenses and other current assets $ 6,298 $ 2,583 Accrued expenses and other current liabilities $ 1,490 $ 3,422 Commodity forward contracts Other assets 2,176 396 Other long-term liabilities 262 1,070 Foreign currency forward contracts Prepaid expenses and other current assets 54 159 Accrued expenses and other current liabilities 343 188 Total $ 8,528 $ 3,138 $ 2,095 $ 4,680 These fair value measurements were all categorized within Level 2 of the fair value hierarchy. The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the three months ended March 31, 2022 and 2021: Derivatives designated as Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income Location of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income 2022 2021 2022 2021 Foreign currency forward contracts $ 5,586 $ 18,799 Net revenue $ 4,264 $ (4,407) Foreign currency forward contracts $ 5,145 $ (3,425) Cost of revenue $ 2,629 $ 743 Derivatives not designated as Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income 2022 2021 Commodity forward contracts $ 9,424 $ (1,153) Other, net Foreign currency forward contracts $ (1,243) $ (958) Other, net Credit Risk Related Contingent Features We have agreements with our derivative counterparties that contain a provision whereby if we default on our indebtedness and repayment of the indebtedness has been accelerated by the lender, then we could also be declared in default on our derivative obligations.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Spear Power Systems On November 19, 2021, we acquired all of the equity interests of Spear, a leader in electrification solutions that supports our newly-established Clean Energy Solutions business unit, for an aggregate purchase price of $113.7 million, subject to certain post-closing items, including the discounted present value of contingent consideration. As of March 31, 2022, the present value of this contingent consideration was $2.3 million. Any gains or losses resulting from adjustments to contingent consideration are recorded in restructuring and other charges, net. We are integrating Spear into the Sensing Solutions reportable segment. As of March 31, 2022, the allocation of purchase price of Spear is preliminary and is based on management’s judgments after evaluating several factors, including preliminary valuation assessments of tangible and intangible assets. The final allocation of the purchase price to the assets acquired will be completed when the final valuations are completed. Refer to Note 21: Acquisitions of the audited consolidated financial statements and notes thereto included in our 2021 Annual Report for detailed information regarding the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed as of December 31, 2021. SmartWitness Holdings, Inc. On November 19, 2021, we acquired all of the equity interests of SmartWitness Holdings, Inc. ("SmartWitness"), a privately held innovator of video telematics technology for heavy- and light-duty fleets, for an aggregate cash purchase price of $204.2 million, subject to certain post-closing items. In addition to the aggregate purchase price, we paid $8.6 million of cash at closing related to an employee retention arrangement, which was reflected as an operating cash outflow on our consolidated statement of cash flows for the year ended December 31, 2021. We are integrating SmartWitness into the Performance Sensing reportable segment. As of March 31, 2022, the allocation of purchase price of SmartWitness is preliminary and is based on management’s judgments after evaluating several factors, including preliminary valuation assessments of tangible and intangible assets. The final allocation of the purchase price to the assets acquired will be completed when the final valuations are completed. Refer to Note 21: Acquisitions of the audited consolidated financial statements and notes thereto included in our 2021 Annual Report for detailed information regarding the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed as of December 31, 2021. Elastic M2M Inc. On February 11, 2022, we acquired all of the equity interests of Elastic M2M Inc. ("Elastic M2M") for an aggregate cash purchase price of $51.2 million, subject to certain post-closing items. In addition to the aggregate cash purchase price, the previous shareholders of Elastic M2M are entitled to up to $30.0 million additional acquisition-related incentive compensation, pending the completion of certain technical milestones in fiscal year 2022 and achievement of revenue targets in fiscal years 2022 and 2023. In the first quarter of 2022, we determined that $15.0 million of that acquisition-related incentive compensation was earned as all of the technical milestones were achieved. This amount is recorded in restructuring and other charges, net. We paid $7.5 million of this acquisition-related incentive compensation in the three months ended March 31, 2022, which is reflected as an operating cash outflow on our condensed consolidated statement of cash flows for the three months ended March 31, 2022. Elastic M2M is a privately-held innovator of connected intelligence for operational assets across heavy-duty transport, warehouse, supply chain and logistics, industrial, light-duty passenger car, and a variety of other industry segments. Elastic M2M primarily serves telematics service providers and resellers, enabling them to leverage Elastic M2M’s cloud platform and analytics capabilities to deliver sensor-based operational insights to their end users. This acquisition augments our cloud capabilities critical to delivering actionable sensor-based insights, an increasingly important capability in this fast-growing industry segment. We are integrating Elastic M2M into the Performance Sensing reportable segment.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We present financial information for two reportable segments, Performance Sensing and Sensing Solutions. The Performance Sensing reportable segment consists of two operating segments, Automotive and HVOR, which meet the criteria for aggregation in FASB ASC Topic 280, Segment Reporting . The Sensing Solutions reportable segment is also an operating segment. Our operating segments are businesses that we manage as components of an enterprise, for which separate financial information is evaluated regularly by our chief operating decision maker in deciding how to allocate resources and assess performance. An operating segment’s performance is primarily evaluated based on segment operating income, which excludes amortization of intangible assets, restructuring and other charges, net, certain costs associated with our strategic megatrend initiatives, and certain corporate costs or credits not associated with the operations of the segment, including share-based compensation expense and a portion of depreciation expense associated with assets recognized in connection with acquisitions. Corporate and other costs excluded from an operating (and reportable) segment’s performance are separately stated below and also include costs that are related to functional areas such as finance, information technology, legal, and human resources. We believe that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of our segments. However, this measure should be considered in addition to, and not as a substitute for, or superior to, operating income or other measures of financial performance prepared in accordance with U.S. GAAP. The accounting policies of each of our operating and reportable segments are materially consistent with those described in Note 2: Significant Accounting Policies of the audited consolidated financial statements and notes thereto included in our 2021 Annual Report. The following table presents net revenue and segment operating income for our reportable segments and other operating results not allocated to our reportable segments for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Net revenue: Performance Sensing $ 717,697 $ 714,512 Sensing Solutions 258,073 228,016 Total net revenue $ 975,770 $ 942,528 Segment operating income (as defined above): Performance Sensing $ 180,638 $ 195,844 Sensing Solutions 72,515 66,894 Total segment operating income 253,153 262,738 Corporate and other (76,123) (68,638) Amortization of intangible assets (37,367) (32,064) Restructuring and other charges, net (13,733) (4,582) Operating income 125,930 157,454 Interest expense, net (45,445) (44,043) Other, net (50,456) (39,397) Income before taxes $ 30,029 $ 74,014

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 22, 2022, we signed a stock purchase agreement to acquire Dynapower Company, LLC ("Dynapower"), a leading provider of high-voltage power conversion solutions for clean energy segments, for an aggregate cash purchase price of $580 million, subject to working capital and other adjustments. We expect to complete the acquisition in the third quarter of 2022, subject to regulatory approvals and other customary closing conditions. We intend to fund the transaction using available cash on hand. Dynapower is a leader in power conversion systems including inverters, converters, and rectifiers for renewable energy generation, green hydrogen production, electric vehicle charging stations, and microgrid applications, as well as industrial and

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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, 2021 filed with the U.S. Securities and Exchange Commission (the "SEC") on February 10, 2022 (the "2021 Annual Report"). All U.S. dollar ("USD") and share amounts presented, except per share amounts, are stated in thousands, unless otherwise indicated.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Disaggregation of Revenue	The following table presents net revenue disaggregated by segment and end market for the three months ended March 31, 2022 and 2021: 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 Automotive $ 502,362 $ 9,285 $ 511,647 $ 536,713 $ 11,500 $ 548,213 HVOR (1) 215,335 — 215,335 177,799 — 177,799 Industrial — 114,619 114,619 — 90,475 90,475 Appliance and HVAC (2) — 58,825 58,825 — 59,916 59,916 Aerospace — 33,270 33,270 — 32,677 32,677 Other — 42,074 42,074 — 33,448 33,448 Total $ 717,697 $ 258,073 $ 975,770 $ 714,512 $ 228,016 $ 942,528 ________________________ (1) Heavy vehicle and off-road (2) Heating, ventilation and air conditioning

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Non-Cash Compensation Expense Related to Equity Awards	The following table presents the components of non-cash compensation expense related to our equity awards for the three months ended March 31, 2022 and 2021: 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

Restructuring and Other Charg_2

Restructuring and Other Charges, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Other Charges, Net	The following table presents the components of restructuring and other charges, net for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Q2 2020 Global Restructure Program charges $ — $ 1,824 Other restructuring and other charges, net Severance costs, net 587 186 Facility and other exit costs 1,048 666 Other (1) 12,098 1,906 Restructuring and other charges, net $ 13,733 $ 4,582 ________________________ (1) Primarily includes expenses related to acquisition-related incentive compensation, partially offset by a gain resulting from reduction of the liability for contingent consideration for Spear Power Systems ("Spear"). Refer to Note 16: Acquisitions for additional information.
Schedule of Changes to Restructuring Liability	The following table presents a rollforward of the severance portion of our restructuring obligations for the three months ended March 31, 2022. Q2 2020 Global Restructure Program Other Total Balance as of December 31, 2021 $ 3,853 $ 3,380 $ 7,233 Charges, net of reversals — 587 587 Payments (2,955) (1,130) (4,085) Foreign currency remeasurement (6) 12 6 Balance as of March 31, 2022 $ 892 $ 2,849 $ 3,741

Other, Net (Tables)

Other, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Other, Net	The following table presents the components of other, net for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Currency remeasurement loss on net monetary assets $ (67) $ (1,477) Loss on foreign currency forward contracts (1,243) (958) Gain/(loss) on commodity forward contracts 9,424 (1,153) Loss on debt financing — (30,066) Mark-to-market loss on investments, net (59,279) — Net periodic benefit cost, excluding service cost (755) (2,410) Other 1,464 (3,333) Other, net $ (50,456) $ (39,397)

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The following table presents the provision for income taxes for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Provision for income taxes $ 7,588 $ 20,281

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Weighted-Average Ordinary Shares Outstanding	For the three months ended March 31, 2022 and 2021 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows: 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
Schedule of Antidilutive Securities	These potential ordinary shares were as follows: For the three months ended March 31, 2022 March 31, 2021 Anti-dilutive shares excluded 4 6 Contingently issuable shares excluded 1,002 950

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	The following table presents the components of inventories as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Finished goods $ 222,375 $ 201,424 Work-in-process 114,496 101,558 Raw materials 304,838 285,249 Inventories $ 641,709 $ 588,231

Pension and Other Post-Retire_2

Pension and Other Post-Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	The following table presents the components of net periodic benefit cost/(credit) associated with our defined benefit and retiree healthcare plans for the three months ended March 31, 2022 and 2021: 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

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt, Finance Lease, and Other Financing Obligations	The following table presents the components of long-term debt, finance lease and other financing obligations as of March 31, 2022 and December 31, 2021: 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

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Roll Forward of Components of Accumulated Other Comprehensive Loss	The following table presents the components of accumulated other comprehensive loss for the three months ended March 31, 2022: Cash Flow Hedges Defined Benefit and Retiree Healthcare Plans Accumulated Other Comprehensive Loss Balance as of December 31, 2021 $ 16,831 $ (36,391) $ (19,560) Other comprehensive income before reclassifications, net of tax 7,965 — 7,965 Reclassifications from accumulated other comprehensive loss, net of tax (5,115) 428 (4,687) Other comprehensive income 2,850 428 3,278 Balance as of March 31, 2022 $ 19,681 $ (35,963) $ (16,282)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss	The following table presents the amounts reclassified from accumulated other comprehensive loss for the three months ended March 31, 2022 and 2021: For the three months ended March 31, Affected Line in Condensed Consolidated Statements of Operations Component 2022 2021 Derivative instruments designated and qualifying as cash flow hedges: Foreign currency forward contracts $ (4,264) $ 4,407 Net revenue (1) Foreign currency forward contracts (2,629) (743) Cost of revenue (1) Total, before taxes (6,893) 3,664 Income before taxes Income tax effect 1,778 (916) Provision for income taxes Total, net of taxes $ (5,115) $ 2,748 Net income Defined benefit and retiree healthcare plans $ 611 $ 2,269 Other, net (2) Income tax effect (183) (557) Provision for income taxes Total, net of taxes $ 428 $ 1,712 Net income __________________________ (1) Refer to Note 15: Derivative Instruments and Hedging Activities for additional information on amounts to be reclassified from accumulated other comprehensive loss in future periods. (2) Refer to Note 10: Pension and Other Post-Retirement Benefits for additional information on net periodic benefit cost/(credit).

Fair Value Measures (Tables)

Fair Value Measures (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The fair values of our assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 are shown in the below table. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. March 31, 2022 December 31, 2021 Assets Foreign currency forward contracts $ 29,063 $ 25,112 Commodity forward contracts 8,474 2,979 Total $ 37,537 $ 28,091 Liabilities Foreign currency forward contracts $ 3,682 $ 3,073 Commodity forward contracts 1,752 4,492 Total $ 5,434 $ 7,565
Schedule of Information about Carrying Values and Fair Values of Financial Instruments not Recorded at Fair Value	The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. March 31, 2022 December 31, 2021 Carrying Value (1) Fair Value Carrying Value (1) Fair Value Liabilities Term Loan $ 450,308 $ 449,182 $ 451,465 $ 450,901 4.875% Senior Notes $ 500,000 $ 512,500 $ 500,000 $ 526,250 5.625% Senior Notes $ 400,000 $ 416,000 $ 400,000 $ 438,000 5.0% Senior Notes $ 700,000 $ 714,875 $ 700,000 $ 759,500 4.375% Senior Notes $ 450,000 $ 432,000 $ 450,000 $ 479,250 3.75% Senior Notes $ 750,000 $ 690,938 $ 750,000 $ 747,188 4.0% Senior Notes $ 1,000,000 $ 942,500 $ 1,000,000 $ 1,022,500 ___________________________________ (1) Excluding any related debt discounts, premiums, and deferred financing costs.
Schedule of Equity Securities without Readily Determinable Fair Value	Refer to the below table for a summary of our investment in Quanergy as of March 31, 2022, February 8, 2022, and December 31, 2021, which is presented in other assets on our consolidated balance sheets as of March 31, 2022 and December 31, 2021. As of March 31, 2022 February 8, 2022 December 31, 2021 Series B Preferred Stock $ — $ — $ 50,000 Common shares 9,200 50,000 — PIPE investment 1,380 7,500 — Warrant Shares 4,575 17,600 — Total equity investment in Quanergy $ 15,155 $ 75,100 $ 50,000 For the three months ended March 31, 2022 Mark-to-market loss $ 59,945 Refer to the table below for the carrying values of equity investments using the measurement alternative, which are presented as a component of other assets in the condensed consolidated balance sheets. March 31, 2022 December 31, 2021 Quanergy Systems, Inc. (1) $ — $ 50,000 Other 15,000 15,000 Total $ 15,000 $ 65,000 ___________________________________ (1) As of March 31, 2022, Quanergy is no longer classified as an equity investment without a readily determinable fair value. See additional discussion under the heading Quanergy elsewhere in this Note.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivative Instruments	As of March 31, 2022, we had the following outstanding foreign currency forward contracts: Notional Effective Date(s) Maturity Date(s) Index (Exchange Rates) Weighted-Average Strike Rate Hedge Designation (1) 15.0 EUR March 29, 2022 April 29, 2022 Euro ("EUR") to USD 1.11 USD Not designated 349.6 EUR Various from May 2020 to March 2022 Various from April 2022 to March 2024 EUR to USD 1.19 USD Cash flow hedge 1,170.0 CNY Various in March 2022 Various in April 2022 USD to Chinese Renminbi ("CNY") 6.38 CNY Not designated 1,134.3 CNY Various from October 2021 to March 2022 Various from April 2022 to December 2022 USD to CNY 6.44 CNY Cash flow hedge 684.0 JPY March 29, 2022 April 28, 2022 USD to Japanese Yen ("JPY") 122.02 JPY Not designated 24,400.0 KRW Various from May 2020 to March 2022 Various from April 2022 to February 2024 USD to Korean Won ("KRW") 1,170.98 KRW Cash flow hedge 24.0 MYR March 28, 2022 April 29, 2022 USD to Malaysian Ringgit ("MYR") 4.21 MYR Not designated 259.0 MXN March 29, 2022 April 29, 2022 USD to Mexican Peso ("MXN") 20.05 MXN Not designated 3,477.3 MXN Various from May 2020 to March 2022 Various from April 2022 to March 2024 USD to MXN 22.11 MXN Cash flow hedge 52.4 GBP Various from May 2020 to March 2022 Various from April 2022 to March 2024 British Pound Sterling ("GBP") to USD 1.36 USD Cash flow hedge _________________________ (1) Derivative financial instruments not designated as hedges are used to manage our exposure to currency exchange rate risk. They are intended to preserve economic value, and they are not used for trading or speculative purposes. As of March 31, 2022, we had the following outstanding commodity forward contracts, none of which were designated for hedge accounting treatment in accordance with FASB ASC Topic 815, Derivatives and Hedging : Commodity Notional Remaining Contracted Periods Weighted-Average Strike Price Per Unit Silver 1,109,868 troy oz. April 2022 - February 2024 $24.72 Gold 8,380 troy oz. April 2022 - February 2024 $1,833.55 Nickel 250,238 pounds April 2022 - February 2024 $8.69 Aluminum 3,851,210 pounds April 2022 - February 2024 $1.17 Copper 7,740,838 pounds April 2022 - February 2024 $4.30 Platinum 11,588 troy oz. April 2022 - February 2024 $1,045.40 Palladium 1,408 troy oz. April 2022 - February 2024 $2,383.12
Schedule of Fair Values of Derivative Financial Instruments and their Classification in Balance Sheets	The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021: Asset Derivatives Liability Derivatives Balance Sheet Location March 31, 2022 December 31, 2021 Balance Sheet Location March 31, 2022 December 31, 2021 Derivatives designated as hedging instruments Foreign currency forward contracts Prepaid expenses and other current assets $ 24,946 $ 20,562 Accrued expenses and other current liabilities $ 2,656 $ 1,981 Foreign currency forward contracts Other assets 4,063 4,391 Other long-term liabilities 683 904 Total $ 29,009 $ 24,953 $ 3,339 $ 2,885 Derivatives not designated as hedging instruments Commodity forward contracts Prepaid expenses and other current assets $ 6,298 $ 2,583 Accrued expenses and other current liabilities $ 1,490 $ 3,422 Commodity forward contracts Other assets 2,176 396 Other long-term liabilities 262 1,070 Foreign currency forward contracts Prepaid expenses and other current assets 54 159 Accrued expenses and other current liabilities 343 188 Total $ 8,528 $ 3,138 $ 2,095 $ 4,680
Schedule of Effect of Derivative Financial Instruments on Statements of Operations	The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the three months ended March 31, 2022 and 2021: Derivatives designated as Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income Location of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income 2022 2021 2022 2021 Foreign currency forward contracts $ 5,586 $ 18,799 Net revenue $ 4,264 $ (4,407) Foreign currency forward contracts $ 5,145 $ (3,425) Cost of revenue $ 2,629 $ 743 Derivatives not designated as Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income 2022 2021 Commodity forward contracts $ 9,424 $ (1,153) Other, net Foreign currency forward contracts $ (1,243) $ (958) Other, net

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	The following table presents net revenue and segment operating income for our reportable segments and other operating results not allocated to our reportable segments for the three months ended March 31, 2022 and 2021: For the three months ended March 31, 2022 March 31, 2021 Net revenue: Performance Sensing $ 717,697 $ 714,512 Sensing Solutions 258,073 228,016 Total net revenue $ 975,770 $ 942,528 Segment operating income (as defined above): Performance Sensing $ 180,638 $ 195,844 Sensing Solutions 72,515 66,894 Total segment operating income 253,153 262,738 Corporate and other (76,123) (68,638) Amortization of intangible assets (37,367) (32,064) Restructuring and other charges, net (13,733) (4,582) Operating income 125,930 157,454 Interest expense, net (45,445) (44,043) Other, net (50,456) (39,397) Income before taxes $ 30,029 $ 74,014

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 975,770	$ 942,528
Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	717,697	714,512
Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	258,073	228,016
Automotive
Disaggregation of Revenue [Line Items]
Net revenue	511,647	548,213
Automotive | Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	502,362	536,713
Automotive | Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	9,285	11,500
HVOR
Disaggregation of Revenue [Line Items]
Net revenue	215,335	177,799
HVOR | Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	215,335	177,799
HVOR | Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Industrial
Disaggregation of Revenue [Line Items]
Net revenue	114,619	90,475
Industrial | Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Industrial | Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	114,619	90,475
Appliance and HVAC
Disaggregation of Revenue [Line Items]
Net revenue	58,825	59,916
Appliance and HVAC | Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Appliance and HVAC | Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	58,825	59,916
Aerospace
Disaggregation of Revenue [Line Items]
Net revenue	33,270	32,677
Aerospace | Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Aerospace | Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	33,270	32,677
Other
Disaggregation of Revenue [Line Items]
Net revenue	42,074	33,448
Other | Performance Sensing
Disaggregation of Revenue [Line Items]
Net revenue	0	0
Other | Sensing Solutions
Disaggregation of Revenue [Line Items]
Net revenue	$ 42,074	$ 33,448

Share-Based Payment Plans - Sha

Share-Based Payment Plans - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 6,540	$ 5,099
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	307	460
Restricted securities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 6,233	$ 4,639

Restructuring and Other Charg_3

Restructuring and Other Charges, Net - Components of Restructuring and Other Charges, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loss Contingencies [Line Items]
Restructuring and other charges, net	$ 13,733	$ 4,582
Q2 2020 Global Restructure Program
Loss Contingencies [Line Items]
Restructuring Charges	0	1,824
Other
Loss Contingencies [Line Items]
Severance costs, net	587	186
Facility and other exit costs	1,048	666
Other	$ 12,098	$ 1,906

Restructuring and Other Charg_4

Restructuring and Other Charges, Net - Schedule of Changes to Restructuring Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Q2 2020 Global Restructure Program
Restructuring Reserve [Roll Forward]
Restructuring Charges	$ 0	$ 1,824
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	7,233
Restructuring Charges	587
Payments	(4,085)
Foreign currency remeasurement	6
Restructuring reserve, ending balance	3,741
Employee Severance | Q2 2020 Global Restructure Program
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	3,853
Restructuring Charges	0
Payments	(2,955)
Foreign currency remeasurement	(6)
Restructuring reserve, ending balance	892
Employee Severance | Other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	3,380
Restructuring Charges	587
Payments	(1,130)
Foreign currency remeasurement	12
Restructuring reserve, ending balance	$ 2,849

Other, Net (Details)

Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Income and Expenses [Abstract]
Currency remeasurement loss on net monetary assets	$ (67)	$ (1,477)
Loss on foreign currency forward contracts	(1,243)	(958)
Gain/(loss) on commodity forward contracts	9,424	(1,153)
Loss on debt financing	0	(30,066)
Mark-to-market loss on investments, net	(59,279)	0
Net periodic benefit cost, excluding service cost	(755)	(2,410)
Other	1,464	(3,333)
Other, net	$ (50,456)	$ (39,397)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 7,588	$ 20,281

Net Income per Share - Schedule

Net Income per Share - Schedule of Weighted Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Basic weighted-average ordinary shares outstanding (in shares)	157,422	157,764
Dilutive effect of stock options (in shares)	473	708
Dilutive effect of unvested restricted securities (in shares)	735	758
Diluted weighted-average ordinary shares outstanding (in shares)	158,630	159,230

Net Income per Share - Schedu_2

Net Income per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Anti-dilutive shares excluded
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4	6
Contingently issuable shares excluded
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,002	950

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 222,375	$ 201,424
Work-in-process	114,496	101,558
Raw materials	304,838	285,249
Inventories	$ 641,709	$ 588,231

Pension and Other Post-Retire_3

Pension and Other Post-Retirement Benefits - Schedule of components of net periodic benefit cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 958	$ 980
Interest cost	583	545
Expected return on plan assets	(439)	(404)
Amortization of net loss	419	860
Amortization of prior service (credit)/cost	(98)	(156)
Loss on settlement	290	1,565
Net periodic benefit cost/(credit)	1,713	3,390
U.S. Plans | Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0
Interest cost	113	120
Expected return on plan assets	(195)	(226)
Amortization of net loss	141	401
Amortization of prior service (credit)/cost	0	0
Loss on settlement	290	1,565
Net periodic benefit cost/(credit)	349	1,860
U.S. Plans | Retiree Healthcare
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	2	2
Interest cost	46	21
Expected return on plan assets	0	0
Amortization of net loss	0	0
Amortization of prior service (credit)/cost	(100)	(159)
Loss on settlement	0	0
Net periodic benefit cost/(credit)	(52)	(136)
Non-U.S. Plans | Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	956	978
Interest cost	424	404
Expected return on plan assets	(244)	(178)
Amortization of net loss	278	459
Amortization of prior service (credit)/cost	2	3
Loss on settlement	0	0
Net periodic benefit cost/(credit)	$ 1,416	$ 1,666

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt, Finance Lease, and Other Financing Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
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
4.875% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.875%
5.625% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.625%
5.0% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.00%
4.375% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.375%
3.75% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.75%
4.0% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.00%
Secured Debt | Term Loan
Debt Instrument [Line Items]
Gross long-term debt	$ 450,308	451,465
Senior Notes | 4.875% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.875%
Gross long-term debt	$ 500,000	500,000
Senior Notes | 5.625% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.625%
Gross long-term debt	$ 400,000	400,000
Senior Notes | 5.0% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.00%
Gross long-term debt	$ 700,000	700,000
Senior Notes | 4.375% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.375%
Gross long-term debt	$ 450,000	450,000
Senior Notes | 3.75% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.75%
Gross long-term debt	$ 750,000	750,000
Senior Notes | 4.0% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.00%
Gross long-term debt	$ 1,000,000	$ 1,000,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Accrued interest	$ 63,100,000	$ 45,100,000
Senior Notes | 6.25% Senior Notes
Debt Instrument [Line Items]
Debt redemption, aggregate principal amount	$ 750,000,000
Stated interest rate	6.25%
Loss on debt financing	$ 30,100,000
Debt redemption, premium paid	23,400,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Amount available under revolving credit facility	416,100,000
Line of credit facility, maximum borrowing capacity	420,000,000
Letters of credit outstanding, amount	3,900,000
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Long-term line of credit	$ 0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	Mar. 31, 2022	Jan. 20, 2022	Dec. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 500,000,000
Remaining amount under share repurchase program	$ 449,500,000
July2019 Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 500,000,000
Remaining amount under share repurchase program			$ 254,500,000

Shareholders' Equity - AOCI Rol

Shareholders' Equity - AOCI Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 3,094,734	$ 2,705,486
Other comprehensive income before reclassifications, net of tax	7,965
Reclassifications from accumulated other comprehensive loss, net of tax	(4,687)
Other comprehensive income	3,278	15,990
Ending balance	3,072,317	2,790,643
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	16,831
Other comprehensive income before reclassifications, net of tax	7,965
Reclassifications from accumulated other comprehensive loss, net of tax	(5,115)
Other comprehensive income	2,850
Ending balance	19,681
Defined Benefit and Retiree Healthcare Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(36,391)
Other comprehensive income before reclassifications, net of tax	0
Reclassifications from accumulated other comprehensive loss, net of tax	428
Other comprehensive income	428
Ending balance	(35,963)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(19,560)	(49,535)
Other comprehensive income	3,278	15,990
Ending balance	$ (16,282)	$ (33,545)

Shareholders' Equity - AOCI Rec

Shareholders' Equity - AOCI Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenue	$ 975,770	$ 942,528
Cost of revenue	(657,080)	(635,349)
Other, net	(50,456)	(39,397)
Provision for income taxes	(7,588)	(20,281)
Net income	22,441	53,733
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Derivative instruments designated and qualifying as cash flow hedges:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before taxes	(6,893)	3,664
Provision for income taxes	1,778	(916)
Net income	(5,115)	2,748
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Derivative instruments designated and qualifying as cash flow hedges: | Foreign currency forward contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenue	(4,264)	4,407
Cost of revenue	(2,629)	(743)
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Defined benefit and retiree healthcare plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other, net	611	2,269
Provision for income taxes	(183)	(557)
Net income	$ 428	$ 1,712

Fair Value Measures - Schedule

Fair Value Measures - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Level 2 - Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 37,537	$ 28,091
Liabilities	5,434	7,565
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	29,063	25,112
Liabilities	3,682	3,073
Commodity forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	8,474	2,979
Liabilities	$ 1,752	$ 4,492

Fair Value Measures - Narrative

Fair Value Measures - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Feb. 08, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 15,000		$ 65,000
Quanergy Systems, Inc.
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 15,155	$ 75,100	50,000
Support Agreement, consideration		17,600
Support Agreement term	4 years
Support Agreement, consideration recognized during period	$ 700
Support Agreement, quarterly consideration to be recognized	$ 1,100
Quanergy Systems, Inc. | Quanergy Systems, Inc.
Schedule of Equity Method Investments [Line Items]
Share price (in dollars per share)	$ 1.84
Quanergy Systems, Inc. | Warrant Shares
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 4,575	$ 17,600	0
Equity securities without readily determinable fair value (in shares)		2,500,000
Exercise price of warrants shares (in dollars per share)	$ 7.05
Quanergy Systems, Inc. | Series B Preferred Stock
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 0	$ 0	50,000
Share price (in dollars per share)		$ 10
Quanergy Systems, Inc. | Ordinary Shares
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	9,200	$ 50,000	0
Equity securities without readily determinable fair value (in shares)		5,000,000
Quanergy Systems, Inc. | Unregistered Common Shares
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	1,380	$ 7,500	$ 0
Equity securities without readily determinable fair value (in shares)		750,000
Quanergy Systems, Inc. | Common Stock, Including Unregistered
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 57,500
Equity securities without readily determinable fair value (in shares)	5,750,000

Fair Value Measures - Schedul_2

Fair Value Measures - Schedule of Investment in Quanergy (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 08, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 15,000			$ 65,000
Mark-to-market loss	59,279	$ 0
Quanergy Systems, Inc.
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	15,155		$ 75,100	50,000
Mark-to-market loss		$ 59,945
Quanergy Systems, Inc. | Series B Preferred Stock
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	0		0	50,000
Quanergy Systems, Inc. | Ordinary Shares
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	9,200		50,000	0
Quanergy Systems, Inc. | Unregistered Common Shares
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	1,380		7,500	0
Quanergy Systems, Inc. | Warrant Shares
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 4,575		$ 17,600	$ 0

Fair Value Measures - Financial

Fair Value Measures - Financial Instruments Not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
4.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.875%
5.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.625%
5.0% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.00%
4.375% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.375%
3.75% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.75%
4.0% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.00%
Level 2 | Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 449,182	$ 450,901
Level 2 | 4.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	512,500	526,250
Level 2 | 5.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	416,000	438,000
Level 2 | 5.0% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	714,875	759,500
Level 2 | 4.375% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	432,000	479,250
Level 2 | 3.75% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	690,938	747,188
Level 2 | 4.0% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	942,500	1,022,500
Level 2 | Carrying Value | Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	450,308	451,465
Level 2 | Carrying Value | 4.875% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	500,000	500,000
Level 2 | Carrying Value | 5.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	400,000	400,000
Level 2 | Carrying Value | 5.0% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	700,000	700,000
Level 2 | Carrying Value | 4.375% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	450,000	450,000
Level 2 | Carrying Value | 3.75% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	750,000	750,000
Level 2 | Carrying Value | 4.0% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 1,000,000	$ 1,000,000

Fair Value Measures - Equity In

Fair Value Measures - Equity Instruments without Readily Determinable Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Feb. 08, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 15,000		$ 65,000
Quanergy Systems, Inc.
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	15,155	$ 75,100	50,000
Other
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value	$ 15,000		$ 15,000

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details)	Mar. 31, 2022USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign currency cash flow gain to be reclassified during next 12 months	$ 23,700,000
Termination value of outstanding derivatives in a liability position	5,500,000
Collateral already posted, aggregate fair value	$ 0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Derivative Instruments (Details) - 3 months ended Mar. 31, 2022 € in Millions, ₩ in Millions, ¥ in Millions, ¥ in Millions, £ in Millions, RM in Millions, $ in Millions	EUR (€)oztlb$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $	CNY (¥)$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $	JPY (¥)$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $	KRW (₩)$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $	MYR (RM)$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $	MXN ($)$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $	GBP (£)$ / ¥$ / RM€ / $$ / ₩$ / ¥$ / $£ / $
Foreign currency forward contracts | Not designated | Euro ("EUR") to USD
Hedges of Foreign Currency Risk
Notional | €	€ 15
Weighted-Average Strike Rate | € / $	1.11	1.11	1.11	1.11	1.11	1.11	1.11
Foreign currency forward contracts | Not designated | USD to Chinese Renminbi ("CNY")
Hedges of Foreign Currency Risk
Notional | ¥		¥ 1,170
Weighted-Average Strike Rate | $ / ¥	6.38	6.38	6.38	6.38	6.38	6.38	6.38
Foreign currency forward contracts | Not designated | USD to Japanese Yen ("JPY")
Hedges of Foreign Currency Risk
Notional | ¥			¥ 684
Weighted-Average Strike Rate | $ / ¥	122.02	122.02	122.02	122.02	122.02	122.02	122.02
Foreign currency forward contracts | Not designated | USD to Malaysian Ringgit ("MYR")
Hedges of Foreign Currency Risk
Notional | RM					RM 24
Weighted-Average Strike Rate | $ / RM	4.21	4.21	4.21	4.21	4.21	4.21	4.21
Foreign currency forward contracts | Not designated | USD to Mexican Peso ("MXN")
Hedges of Foreign Currency Risk
Notional | $						$ 259
Weighted-Average Strike Rate | $ / $	20.05	20.05	20.05	20.05	20.05	20.05	20.05
Foreign currency forward contracts | Cash flow hedge | Euro ("EUR") to USD
Hedges of Foreign Currency Risk
Notional | €	€ 349.6
Weighted-Average Strike Rate | € / $	1.19	1.19	1.19	1.19	1.19	1.19	1.19
Foreign currency forward contracts | Cash flow hedge | USD to Chinese Renminbi ("CNY")
Hedges of Foreign Currency Risk
Notional | ¥		¥ 1,134.3
Weighted-Average Strike Rate | $ / ¥	6.44	6.44	6.44	6.44	6.44	6.44	6.44
Foreign currency forward contracts | Cash flow hedge | USD to Korean Won ("KRW")
Hedges of Foreign Currency Risk
Notional | ₩				₩ 24,400
Weighted-Average Strike Rate | $ / ₩	1,170.98	1,170.98	1,170.98	1,170.98	1,170.98	1,170.98	1,170.98
Foreign currency forward contracts | Cash flow hedge | USD to Mexican Peso ("MXN")
Hedges of Foreign Currency Risk
Notional | $						$ 3,477.3
Weighted-Average Strike Rate | $ / $	22.11	22.11	22.11	22.11	22.11	22.11	22.11
Foreign currency forward contracts | Cash flow hedge | British Pound Sterling ("GBP") to USD
Hedges of Foreign Currency Risk
Notional | £							£ 52.4
Weighted-Average Strike Rate | £ / $	1.36	1.36	1.36	1.36	1.36	1.36	1.36
Silver | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	24.72	24.72	24.72	24.72	24.72	24.72	24.72
Hedges of Commodity Risk
Notional	1,109,868
Gold | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	1,833.55	1,833.55	1,833.55	1,833.55	1,833.55	1,833.55	1,833.55
Hedges of Commodity Risk
Notional	8,380
Nickel | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	8.69	8.69	8.69	8.69	8.69	8.69	8.69
Hedges of Commodity Risk
Notional | lb	250,238
Aluminum | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	1.17	1.17	1.17	1.17	1.17	1.17	1.17
Hedges of Commodity Risk
Notional | lb	3,851,210
Copper | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	4.30	4.30	4.30	4.30	4.30	4.30	4.30
Hedges of Commodity Risk
Notional | lb	7,740,838
Platinum | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	1,045.4	1,045.4	1,045.4	1,045.4	1,045.4	1,045.4	1,045.4
Hedges of Commodity Risk
Notional	11,588
Palladium | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	2,383.12	2,383.12	2,383.12	2,383.12	2,383.12	2,383.12	2,383.12
Hedges of Commodity Risk
Notional	1,408

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Cash flow hedge
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 29,009	$ 24,953
Liability Derivatives	3,339	2,885
Not designated
Derivatives, Fair Value [Line Items]
Asset Derivatives	8,528	3,138
Liability Derivatives	2,095	4,680
Foreign currency forward contracts | Cash flow hedge | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	24,946	20,562
Foreign currency forward contracts | Cash flow hedge | Other assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	4,063	4,391
Foreign currency forward contracts | Cash flow hedge | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	2,656	1,981
Foreign currency forward contracts | Cash flow hedge | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	683	904
Foreign currency forward contracts | Not designated | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	54	159
Foreign currency forward contracts | Not designated | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	343	188
Commodity forward contracts | Not designated | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	6,298	2,583
Commodity forward contracts | Not designated | Other assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	2,176	396
Commodity forward contracts | Not designated | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	1,490	3,422
Commodity forward contracts | Not designated | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 262	$ 1,070

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Foreign currency forward contracts | Net revenue | Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income	$ 5,586	$ 18,799
Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income	4,264	(4,407)
Foreign currency forward contracts | Cost of revenue | Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income	5,145	(3,425)
Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income	2,629	743
Foreign currency forward contracts | Other, net | Not designated
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in Net Income	(1,243)	(958)
Commodity forward contracts | Other, net | Not designated
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in Net Income	$ 9,424	$ (1,153)

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Feb. 11, 2022	Nov. 19, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Acquisition-related compensation payments			$ 7,500	$ 0
Spear Power Systems
Business Acquisition [Line Items]
Aggregate purchase price		$ 113,700
Contingent consideration		2,300
SmartWitness
Business Acquisition [Line Items]
Aggregate purchase price		204,200
Acquisition costs related to employee retention		$ 8,600
Elastic M2M Inc
Business Acquisition [Line Items]
Aggregate purchase price	$ 51,200
Compensation liability	$ 30,000
Compensation earned			$ 15,000

Segment Reporting - Schedules o

Segment Reporting - Schedules of Segment Reporting (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments | segment	2
Reconciliation from Segment Totals to Consolidated [Abstract]
Net revenue	$ 975,770	$ 942,528
Operating income	125,930	157,454
Amortization of intangible assets	(37,367)	(32,064)
Interest expense, net	(45,445)	(44,043)
Other, net	(50,456)	(39,397)
Income before taxes	$ 30,029	74,014
Performance Sensing
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Reconciliation from Segment Totals to Consolidated [Abstract]
Net revenue	$ 717,697	714,512
Sensing Solutions
Reconciliation from Segment Totals to Consolidated [Abstract]
Net revenue	258,073	228,016
Operating segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Net revenue	975,770	942,528
Operating income	253,153	262,738
Operating segments | Performance Sensing
Reconciliation from Segment Totals to Consolidated [Abstract]
Net revenue	717,697	714,512
Operating income	180,638	195,844
Operating segments | Sensing Solutions
Reconciliation from Segment Totals to Consolidated [Abstract]
Net revenue	258,073	228,016
Operating income	72,515	66,894
Corporate and other
Reconciliation from Segment Totals to Consolidated [Abstract]
Operating income	(76,123)	(68,638)
Segment reconciling items
Reconciliation from Segment Totals to Consolidated [Abstract]
Amortization of intangible assets	(37,367)	(32,064)
Restructuring and other charges, net	$ (13,733)	$ (4,582)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Thousands	Apr. 26, 2022	Apr. 22, 2022
Subsequent Event [Line Items]
Dividends declared pre share (in USD per share)	$ 0.11
Dynapower
Subsequent Event [Line Items]
Aggregate purchase price		$ 580,000