Sensata Technologies Holding (ST) 10-Q 29 Jul 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 16, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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	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)		150,957,543
Entity Central Index Key	0001477294
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,033,052	$ 508,104
Accounts receivable, net of allowances of $18,379 and $28,980 as of June 30, 2024 and December 31, 2023, respectively	809,411	744,129
Inventories	708,299	713,485
Prepaid expenses and other current assets	148,842	136,686
Total current assets	2,699,604	2,102,404
Property, plant and equipment, net	884,155	886,010
Goodwill	3,542,713	3,542,770
Other intangible assets, net of accumulated amortization of $2,600,447 and $2,522,760 as of June 30, 2024 and December 31, 2023, respectively	806,977	883,671
Deferred income tax assets	128,744	131,527
Other assets	127,249	134,605
Total assets	8,189,442	7,680,987
Current liabilities:
Current portion of long-term debt and finance lease obligations	702,701	2,276
Accounts payable	475,573	482,301
Income taxes payable	22,861	32,139
Accrued expenses and other current liabilities	320,324	307,002
Total current liabilities	1,521,459	823,718
Deferred income tax liabilities	360,437	359,073
Pension and other post-retirement benefit obligations	36,217	38,178
Finance lease obligations, less current portion	21,964	22,949
Long-term debt, net	3,170,804	3,373,988
Other long-term liabilities	67,009	66,805
Total liabilities	5,177,890	4,684,711
Commitments and contingencies (Note 11)
Shareholders’ equity:
Ordinary shares, €0.01 nominal value per share, 177,069 shares authorized, and 176,321 and 175,832 shares issued as of June 30, 2024 and December 31, 2023, respectively	2,254	2,249
Treasury shares, at cost, 25,365 and 25,090 shares as of June 30, 2024 and December 31, 2023, respectively	(1,223,212)	(1,213,160)
Additional paid-in capital	1,846,062	1,901,621
Retained earnings	2,400,196	2,295,604
Accumulated other comprehensive (loss)/income	(13,748)	9,962
Total shareholders' equity	3,011,552	2,996,276
Total liabilities and shareholders' equity	$ 8,189,442	$ 7,680,987

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 € / shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 € / shares
Statement of Financial Position [Abstract]
Accounts receivable, net of allowances | $	$ 18,379		$ 28,980
Accumulated amortization | $	$ 2,600,447		$ 2,522,760
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)	176,321,000		175,832,000
Treasury shares (in shares)	25,365,000		25,090,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net revenue	$ 1,035,535	$ 1,062,112	$ 2,042,244	$ 2,060,287
Operating costs and expenses:
Cost of revenue	724,414	732,108	1,413,674	1,402,579
Research and development	45,325	44,857	90,639	90,796
Selling, general and administrative	93,273	91,312	181,319	177,462
Amortization of intangible assets	39,085	54,563	77,600	95,337
Restructuring and other charges, net	3,491	21,259	4,273	27,258
Total operating costs and expenses	905,588	944,099	1,767,505	1,793,432
Operating income	129,947	118,013	274,739	266,855
Interest expense	(40,863)	(45,759)	(79,258)	(94,550)
Interest income	5,802	7,654	9,540	16,354
Other, net	4,097	(10,924)	(7,447)	(9,532)
Income before taxes	98,983	68,984	197,574	179,127
Provision for income taxes	27,280	19,873	49,850	43,599
Net income	$ 71,703	$ 49,111	$ 147,724	$ 135,528
Basic net income per share (in dollars per share)	$ 0.48	$ 0.32	$ 0.98	$ 0.89
Diluted net income per share (in dollars per share)	$ 0.47	$ 0.32	$ 0.98	$ 0.88

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 71,703	$ 49,111	$ 147,724	$ 135,528
Other comprehensive (loss)/income:
Cash flow hedges	(14,768)	8,686	(5,526)	11,493
Defined benefit and retiree healthcare plans	208	224	435	617
Cumulative translation adjustment	(3,898)	0	(18,619)	0
Other comprehensive (loss)/income	(18,458)	8,910	(23,710)	12,110
Comprehensive income	$ 53,245	$ 58,021	$ 124,014	$ 147,638

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 147,724	$ 135,528
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	67,016	63,560
Amortization of debt issuance costs	3,193	3,421
Gain on sale of business	0	(5,877)
Share-based compensation	11,944	17,607
Loss on debt financing	0	857
Amortization of intangible assets	77,600	95,337
Deferred income taxes	6,056	13,449
Loss on equity investments, net	14,306	302
Unrealized (gain)/loss on derivative instruments and other	(9,862)	14,674
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, net	(69,440)	(30,045)
Inventories	3,158	(19,036)
Prepaid expenses and other current assets	(6,699)	(13,408)
Accounts payable and accrued expenses	11,798	(39,665)
Income taxes payable	(9,099)	(12,067)
Other	2,248	(3,615)
Acquisition-related compensation payments	0	(8,380)
Net cash provided by operating activities	249,943	212,642
Cash flows from investing activities:
Additions to property, plant and equipment and capitalized software	(87,188)	(84,444)
Investment in debt and equity securities	1,994	(390)
Proceeds from the sale of business, net of cash sold	0	19,000
Net cash used in investing activities	(85,194)	(65,834)
Cash flows from financing activities:
Proceeds from exercise of stock options and issuance of ordinary shares	4,605	5,346
Payment of employee restricted stock tax withholdings	(6,980)	(11,470)
Proceeds from borrowings on debt	500,000	0
Payments on debt	(566)	(448,390)
Dividends paid	(36,148)	(35,113)
Payments to repurchase ordinary shares	(10,052)	(25,076)
Purchase of noncontrolling interest in joint venture	(79,393)	0
Payments of debt financing costs	(6,376)	(311)
Net cash provided by/(used in) financing activities	365,090	(515,014)
Effect of exchange rate changes on cash and cash equivalents	(4,891)	0
Net change in cash and cash equivalents	524,948	(368,206)
Cash and cash equivalents, beginning of year	508,104	1,225,518
Cash and cash equivalents, end of period	$ 1,033,052	$ 857,312

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Ordinary Shares	Treasury Shares	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)/Income
Ordinary shares, beginning balance (in shares) at Dec. 31, 2022		175,207,000
Treasury shares, beginning balance (in shares) at Dec. 31, 2022			(22,781,000)
Beginning balance at Dec. 31, 2022	$ 3,110,807	$ 2,242	$ (1,124,713)	$ 1,866,201	$ 2,383,341	$ (16,264)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Surrender of shares for tax withholding (in shares)			(233,000)
Surrender of shares for tax withholding	(11,470)		$ (11,470)
Stock options exercised (in shares)		158,000
Stock options exercised	5,428	$ 2		5,426
Vesting of restricted securities (in shares)		661,000
Vesting of restricted securities	0	$ 7			(7)
Cash dividends paid	(35,113)				(35,113)
Repurchase of ordinary shares (in shares)			(590,000)
Repurchase of ordinary shares	(25,125)		$ (25,125)
Retirement of ordinary shares (in shares)		(233,000)	(233,000)
Retirement of ordinary shares	0	$ (2)	$ 11,470		(11,468)
Share-based compensation	17,607			17,607
Net income	135,528				135,528
Other comprehensive loss	12,110					12,110
Ordinary shares, ending balance (in shares) at Jun. 30, 2023		175,793,000
Treasury shares, ending balance (in shares) at Jun. 30, 2023			(23,371,000)
Ending balance at Jun. 30, 2023	3,209,772	$ 2,249	$ (1,149,838)	1,889,234	2,472,281	(4,154)
Ordinary shares, beginning balance (in shares) at Mar. 31, 2023		175,298,000
Treasury shares, beginning balance (in shares) at Mar. 31, 2023			(22,781,000)
Beginning balance at Mar. 31, 2023	3,193,492	$ 2,243	$ (1,124,713)	1,876,168	2,452,858	(13,064)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Surrender of shares for tax withholding (in shares)			(231,000)
Surrender of shares for tax withholding	(11,347)		$ (11,347)
Stock options exercised (in shares)		76,000
Stock options exercised	2,666	$ 1		2,665
Vesting of restricted securities (in shares)		650,000
Vesting of restricted securities	0	$ 7			(7)
Cash dividends paid	(18,336)				(18,336)
Repurchase of ordinary shares (in shares)			(590,000)
Repurchase of ordinary shares	(25,125)		$ (25,125)
Retirement of ordinary shares (in shares)		(231,000)	(231,000)
Retirement of ordinary shares	0	$ (2)	$ 11,347		(11,345)
Share-based compensation	10,401			10,401
Net income	49,111				49,111
Other comprehensive loss	8,910					8,910
Ordinary shares, ending balance (in shares) at Jun. 30, 2023		175,793,000
Treasury shares, ending balance (in shares) at Jun. 30, 2023			(23,371,000)
Ending balance at Jun. 30, 2023	$ 3,209,772	$ 2,249	$ (1,149,838)	1,889,234	2,472,281	(4,154)
Ordinary shares, beginning balance (in shares) at Dec. 31, 2023	175,832,000	175,832,000
Treasury shares, beginning balance (in shares) at Dec. 31, 2023	(25,090,000)		(25,090,000)
Beginning balance at Dec. 31, 2023	$ 2,996,276	$ 2,249	$ (1,213,160)	1,901,621	2,295,604	9,962
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Surrender of shares for tax withholding (in shares)			(188,000)
Surrender of shares for tax withholding	(6,980)		$ (6,980)
Stock options exercised (in shares)		119,000
Stock options exercised	4,605	$ 1		4,604
Vesting of restricted securities (in shares)		558,000
Vesting of restricted securities	0	$ 6			(6)
Cash dividends paid	(36,148)				(36,148)
Repurchase of ordinary shares (in shares)			(275,000)
Repurchase of ordinary shares	(10,052)		$ (10,052)
Retirement of ordinary shares (in shares)		(188,000)	(188,000)
Retirement of ordinary shares	0	$ (2)	$ 6,980		(6,978)
Share-based compensation	11,944			11,944
Purchase of noncontrolling interest in joint venture	(72,107)			(72,107)
Net income	147,724				147,724
Other comprehensive loss	$ (23,710)					(23,710)
Ordinary shares, ending balance (in shares) at Jun. 30, 2024	176,321,000	176,321,000
Treasury shares, ending balance (in shares) at Jun. 30, 2024	(25,365,000)		(25,365,000)
Ending balance at Jun. 30, 2024	$ 3,011,552	$ 2,254	$ (1,223,212)	1,846,062	2,400,196	(13,748)
Ordinary shares, beginning balance (in shares) at Mar. 31, 2024		175,839,000
Treasury shares, beginning balance (in shares) at Mar. 31, 2024			(25,365,000)
Beginning balance at Mar. 31, 2024	2,974,834	$ 2,249	$ (1,223,212)	1,837,647	2,353,440	4,710
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Surrender of shares for tax withholding (in shares)			(185,000)
Surrender of shares for tax withholding	(6,851)		$ (6,851)
Stock options exercised (in shares)		119,000
Stock options exercised	4,605	$ 1		4,604
Vesting of restricted securities (in shares)		548,000
Vesting of restricted securities	0	$ 6			(6)
Cash dividends paid	(18,092)				(18,092)
Repurchase of ordinary shares (in shares)			0
Retirement of ordinary shares (in shares)		(185,000)	(185,000)
Retirement of ordinary shares	0	$ (2)	$ 6,851		(6,849)
Share-based compensation	3,811			3,811
Net income	71,703				71,703
Other comprehensive loss	$ (18,458)					(18,458)
Ordinary shares, ending balance (in shares) at Jun. 30, 2024	176,321,000	176,321,000
Treasury shares, ending balance (in shares) at Jun. 30, 2024	(25,365,000)		(25,365,000)
Ending balance at Jun. 30, 2024	$ 3,011,552	$ 2,254	$ (1,223,212)	$ 1,846,062	$ 2,400,196	$ (13,748)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
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 interim 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, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 29, 2024 (the "2023 Annual Report"). In the three months ended March 31, 2024, we realigned our business as a result of organizational changes that better allocate our resources to support changes to our business strategy. The most significant changes include combining our Automotive and HVOR businesses (with the combined business remaining in Performance Sensing) and moving the Insights business out of Performance Sensing to a new operating segment, which is not aggregated within either of our reportable segments. We combined the Automotive and HVOR businesses to better leverage our core capabilities and prioritize product focus. We also moved certain shorter-cycle businesses from Performance Sensing to Sensing Solutions, which will benefit from organizing these businesses together, by allowing us to scale core capabilities and better serve our customers. Prior year amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment. Refer to Note 15: Segment Reporting for additional information In the three and six months ended June 30, 2024, we presented interest income on the condensed consolidated statements of operations separate from interest expense. In the three and six months ended June 30, 2023, interest income had been included in interest expense, net. Accordingly, we reclassified prior period interest income to a separate caption in the condensed consolidated statements of operations to conform to current period presentation.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards In November 2023, the FASB issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures , to improve disclosures about a public entity's reportable segments. This guidance requires that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss and an amount for "other segment items" included in the determination of segment operating income. The guidance also requires that a public entity provide all annual disclosures about a reportable segment's profit or loss and assets currently required by FASB ASC Topic 280, Segment Reporting , in interim periods, and that a public entity provide the title and position of the chief operating decision maker. There is no change to the guidance for identification or aggregation of operating or reportable segments. FASB ASU No. 2023-07 will be effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The guidance must be applied retrospectively to all prior periods presented. We adopted the guidance in FASB ASU No. 2023-07 on January 1, 2024 and will include the required new annual and quarterly disclosures in our Annual Report on Form 10-K for the period ended December 31, 2024 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2025, respectively. In December 2023, the FASB issued ASU No. 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosures , to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The guidance also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, the standard is effective for annual periods beginning after December 15, 2024. We do not expect the adoption of FASB ASU No. 2023-09 to have an impact on our results of operations or financial condition, but it is expected to increase the amount of disclosures required in the notes to the consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables present net revenue disaggregated by segment and end market for the three and six months ended June 30, 2024 and 2023 for our two reportable segments, Performance Sensing ("PS") and Sensing Solutions ("SS"), and other: For the three months ended June 30, 2024 For the three months ended June 30, 2023 (1) PS SS Other Total PS SS Other (1) Total Automotive (1) $ 543,158 $ 32,389 $ — $ 575,547 $ 511,616 $ 28,202 $ — $ 539,818 HVOR (1)(3) 180,763 7,530 — 188,293 181,947 7,740 — 189,687 Industrial — 126,636 — 126,636 — 185,202 — 185,202 Appliance and HVAC (2) — 55,003 — 55,003 — 50,952 — 50,952 Aerospace — 45,371 — 45,371 — 46,832 — 46,832 Other (1) — 1,142 43,543 44,685 — 12,132 37,489 49,621 Total $ 723,921 $ 268,071 $ 43,543 $ 1,035,535 $ 693,563 $ 331,060 $ 37,489 $ 1,062,112 For the six months ended June 30, 2024 For the six months ended June 30, 2023 (1) PS SS Other Total PS SS Other (1) Total Automotive (1) $ 1,073,782 $ 64,797 $ — $ 1,138,579 $ 1,010,711 $ 54,125 $ — $ 1,064,836 HVOR (1) 363,457 14,388 — 377,845 350,614 13,494 — 364,108 Industrial — 250,917 — 250,917 — 333,714 — 333,714 Appliance and HVAC — 102,058 — 102,058 — 98,426 — 98,426 Aerospace — 91,524 — 91,524 — 91,158 — 91,158 Other (1) — 2,226 79,095 81,321 — 23,593 84,452 108,045 Total $ 1,437,239 $ 525,910 $ 79,095 $ 2,042,244 $ 1,361,325 $ 614,510 $ 84,452 $ 2,060,287 ___________________________________ (1) In the three months ended March 31, 2024, we realigned our segments, as discussed further in Note 1: Basis of Presentation and Note 15: Segment Reporting . As a result, certain revenue in the Automotive and HVOR end markets have been moved from Performance Sensing to Sensing Solutions. In addition, Insights revenue was moved from the HVOR end market (in Performance Sensing) to the other end market in a separate operating segment that is not aggregated within either of our reportable segments. The three and six months ended June 30, 2023 have been retrospectively recast to reflect this change. (2) Heating, ventilation and air conditioning. (3) Heavy vehicle and off-road.

Share-Based Payment Plans

Share-Based Payment Plans	6 Months Ended
	Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Stock options $ 569 $ (205) $ 569 $ (86) Restricted securities 3,242 10,606 11,375 17,693 Share-based compensation expense $ 3,811 $ 10,401 $ 11,944 $ 17,607 Equity Awards We granted the following restricted stock units ("RSUs" and each, an "RSU") and performance-based restricted stock units ("PRSUs" and each, a "PRSU") under the Sensata Technologies Holding plc 2021 Equity Incentive Plan during the six months ended June 30, 2024: Awards Granted To: Type of Award Number of Units Granted (in thousands) Weighted Average Grant Date Fair Value Directors RSU (1) 41 $ 39.08 Various executives RSU (2) 350 $ 37.18 Various executives and employees RSU (3) 646 $ 36.48 Various executives and employees PRSU (4) 159 $ 36.53 Various executives and employees PRSU (5) 159 $ 38.90 ____________________________________ (1) These RSUs cliff vest one year from the grant date (various dates between March 2025 and June 2025). (2) These RSUs vest on various dates over the next 18 months depending on service or performance criteria. (3) These RSUs vest ratably over three years, one-third per year beginning on the first anniversary of the grant date. These RSUs will fully vest on various dates between February 2027 and June 2027. (4) These PRSUs vest on various dates between April 2027 and June 2027. The number of units that ultimately vest will be between 0% and 150% and is dependent on the achievement of certain performance criteria. (5)

Restructuring and Other Charges

Restructuring and Other Charges, Net	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges, Net	Restructuring and Other Charges, Net Q3 2023 Plan In the three months ended September 30, 2023, we committed to a plan to reorganize our business (the “Q3 2023 Plan”). The Q3 2023 Plan, consisting of voluntary and involuntary reductions-in-force, site closures, and other cost-savings initiatives, was commenced to adjust our cost structure and business activities to better align with weaker market demand and continued economic uncertainty in many of our end-markets and to take active measures to accelerate our margin recovery. The reductions-in-force, which are subject to the laws and regulations of the countries in which the actions are planned, are expected to impact 510 positions. Over the life of the Q3 2023 Plan, we incurred restructuring charges of approximately $25.5 million, primarily related to reductions-in-force. The majority of the actions under the Q3 2023 Plan are expected to be completed on or before September 30, 2024. These restructuring charges impacted our business segments and corporate functions as follows: (Dollars in thousands) Positions Charges Performance Sensing 160 8,495 Sensing Solutions 150 7,495 Corporate and other 200 9,510 Total 510 25,500 Restructuring charges, net recognized in the three and six months ended June 30, 2024 resulting from the Q3 2023 Plan are presented by business segment and corporate functions below. No charges were recognized in the three and six months ended June 30, 2023. For the three months ended June 30, 2024 For the six months ended June 30, 2024 (In thousands) Severance Facility and other exit costs Severance Facility and other exit costs Performance Sensing $ (181) $ — $ 347 $ — Sensing Solutions 215 79 (134) 79 Corporate and other (416) — 3 — Q3 2023 Plan total $ (382) $ 79 $ 216 $ 79 Spear Marine Business On June 6, 2023, we announced that we had made the decision to exit the marine energy storage business (the "Marine Business") of Spear Power Systems (“Spear”). The exit of the Spear Marine Business was the result of a change in strategy with respect to the business and involved ceasing sales, marketing, and business operations. It resulted in the elimination of certain positions, primarily in the U.S. and the closure of operations in Belgium. The Spear Marine Business had been included in the Sensing Solutions reportable segment. Exiting the Spear Marine Business resulted in charges in the three and six months ended June 30, 2024 and 2023, as presented in the table below: For the three months ended For the six months ended Location June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Accelerated amortization Amortization of intangible assets $ — $ 13,527 $ — $ 13,527 Write-down of inventory Cost of revenue — 10,479 — 10,479 Severance charges Restructuring and other charges, net (254) 1,168 (328) 1,168 Write-down of property, plant and equipment Restructuring and other charges, net — 1,735 5 1,735 Other charges, including contract termination costs Restructuring and other charges, net 343 11,402 (592) 11,402 Total $ 89 $ 38,311 $ (915) $ 38,311 Other In the three months ended June 30, 2024, we initiated certain actions related to restructuring of our IT operations and product lifecycle management including product line discontinuations, which, for the three and six months ended June 30, 2024, resulted in total costs of $15.9 million, including severance, contract termination costs, and inventory charges. Of the costs recognized, $13.2 million was included within cost of revenue and the remainder was included within restructuring and other charges, net. Summary The following table presents the charges and gains included as components of restructuring and other charges, net for the three and six months ended June 30, 2024, and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Q3 2023 Plan charges, net (1) $ (303) $ — $ 295 $ — Other restructuring and other charges, net Severance charges, net (2) 2,464 4,749 2,455 8,962 Facility and other exit costs 32 310 200 535 Gain on sale of business — — — (5,877) Acquisition-related compensation arrangements (3) 955 3,330 1,910 10,602 Other (4) 343 12,870 (587) 13,036 Restructuring and other charges, net $ 3,491 $ 21,259 $ 4,273 $ 27,258 ___________________________________ (1) Includes net severance charges and facility and other exit costs relating to the Q3 2023 Plan as detailed under the heading Q3 2023 Plan above. (2) Each period presented includes severance charges, net of reversals, that do not represent the initiation of a larger restructuring plan. This includes, for the three and six months ended June 30, 2024, severance related to certain actions to restructure our IT operations. In addition, the three and six months ended June 30, 2024, include certain costs to exit the Spear Marine Business as detailed under the heading Spear Marine Business above. (3) Acquisition-related compensation arrangements consist of incentive compensation to previous owners of companies we have acquired. Payment is generally tied to technical and/or financial targets termed at the time of acquisition. (4) Represents charges that are not included in one of the other classifications. The three and six months ended June 30, 2023 primarily include charges related to the exit of the Spear Marine Business, as detailed under the heading Spear Marine Business above. The three and six months ended June 30, 2024, includes contract termination costs related to certain product lifecycle management activities. The following table presents a rollforward of our severance liability for the six months ended June 30, 2024: Q3 2023 Plan Other Total Balance as of December 31, 2023 $ 6,017 $ 769 $ 6,786 Charges, net of reversals 216 2,455 2,671 Payments (4,419) (2,125) (6,544) Foreign currency remeasurement (129) (94) (223) Balance as of June 30, 2024 $ 1,685 $ 1,005 $ 2,690 The severance liability as of June 30, 2024 and December 31, 2023 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets.

Other, Net

Other, Net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other, Net	Other, Net The following table presents the components of other, net for the three and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Currency remeasurement gain/(loss) on net monetary assets $ 3,398 $ (9,307) $ 4,429 $ (10,566) (Loss)/gain on foreign currency forward contracts (1,837) 4,423 (1,157) 4,607 Gain/(loss) on commodity forward contracts 4,977 (6,269) 6,076 (4,370) Loss on debt financing — (372) — (857) Loss on equity investments, net (1) (1,019) (302) (14,306) (302) Net periodic benefit cost, excluding service cost (820) (810) (1,661) (1,781) Other (602) 1,713 (828) 3,737 Other, net $ 4,097 $ (10,924) $ (7,447) $ (9,532) ___________________________________ (1) The six months ended June 30, 2024 primarily includes a loss on an equity investment that does not have a readily determinable fair value for which we use the measurement alternative prescribed in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 321, Investments—Equity Securities . Refer to Note 13: Fair Value Measures for additional information.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents the provision for income taxes for the three and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Provision for income taxes $ 27,280 $ 19,873 $ 49,850 $ 43,599 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, and (c) changes in withholding taxes on unremitted earnings. Other items impacting deferred tax expense include changes in tax rates and changes in our assessment of the realizability of our deferred tax assets.

Net Income per Share

Net Income per Share	6 Months Ended
	Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Basic weighted-average ordinary shares outstanding 150,845 152,700 150,663 152,609 Dilutive effect of stock options 8 55 4 103 Dilutive effect of unvested restricted securities 276 309 358 482 Diluted weighted-average ordinary shares outstanding 151,129 153,064 151,025 153,194 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 For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Anti-dilutive shares excluded 1,239 1,625 1,501 1,003 Contingently issuable shares excluded 929 1,366 995 1,317

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories The following table presents the components of inventories as of June 30, 2024 and December 31, 2023: June 30, December 31, Finished goods $ 197,398 $ 223,972 Work-in-process 132,818 113,209 Raw materials 378,083 376,304 Inventories $ 708,299 $ 713,485

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The following table presents the components of long-term debt, net and finance lease obligations as of June 30, 2024 and December 31, 2023: Maturity Date June 30, December 31, 5.0% Senior Notes (1) 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 5.875% Senior Notes September 1, 2030 500,000 500,000 6.625% Senior Notes (1) July 15, 2032 500,000 — Less: debt discount, net of premium (891) (1,568) Less: deferred financing costs (28,305) (24,444) Less: current portion (1) (700,000) — Long-term debt, net $ 3,170,804 $ 3,373,988 Finance lease obligations $ 24,665 $ 25,225 Less: current portion (2,701) (2,276) Finance lease obligations, less current portion $ 21,964 $ 22,949 ___________________________________ (1) On June 6, 2024, our indirect, wholly-owned subsidiary, Sensata Technologies, Inc. ("STI"), completed the issuance and sale of $500.0 million aggregate principal amount of 6.625% senior notes due 2032 (the "6.625% Senior Notes"). On July 15, 2024, we used the proceeds from this issuance, together with cash on hand, for the redemption in full of the $700.0 million aggregate principal amount of 5.0% senior notes due 2025 (the "5.0% Senior Notes"), which were issued by our indirect, wholly-owned subsidiary, Sensata Technologies B.V. ("STBV"). Accordingly, we have presented the 5.0% Senior Notes within the current portion of long-term debt on our condensed consolidated balance sheet as of June 30, 2024. Our indebtedness as of June 30, 2024 and December 31, 2023 consists of various tranches of senior unsecured notes, including the 5.0% Senior Notes, $450.0 million aggregate principal amount of 4.375% senior notes due 2030 (the "4.375% Senior Notes), $750.0 million aggregate principal amount of 3.75% senior notes due 2031 (the "3.75% Senior Notes), $1.0 billion aggregate principal amount of 4.0% senior notes due 2029 (the "4.0% Senior Notes"), $500.0 million aggregate principal amount of 5.875% senior notes due 2030 (the "5.875% Senior Notes"), and the 6.625% Senior Notes. We also have secured credit facilities which provide for our $750.0 million revolving credit facility (the "Revolving Credit Facility") and incremental availability under which additional debt can be issued. Refer to Note 14: Debt of our 2023 Annual Report for additional information related to our indebtedness prior to the issuance of the 6.625% Senior Notes. Revolving Credit Facility As of June 30, 2024, we had $746.1 million available under the Revolving Credit Facility, net of $3.9 million of obligations in respect of outstanding letters of credit issued thereunder. Outstanding letters of credit are issued primarily for the benefit of certain operating activities. As of June 30, 2024, no amounts had been drawn against these outstanding letters of credit. Debt Financing Transactions Issuance of 6.625% Senior Notes The 6.625% Senior Notes were issued under an indenture dated as of June 6, 2024 (the "6.625% Senior Notes Indenture") among STI, as issuer, The Bank of New York Mellon, as trustee, and our guarantor subsidiaries named therein (the "Guarantors"). The 6.625% Senior Notes bear interest at a rate of 6.625% per annum and mature on July 15, 2032. Interest is payable semi-annually on January 15 and July 15 of each year, commencing on January 15, 2025. STI's obligations under the 6.625% Senior Notes are guaranteed by STBV and each of STBV's wholly-owned subsidiaries (other than STI) that is a Guarantor under STI's senior secured credit facilities (the "Senior Secured Credit Facilities") and an issuer or a guarantor under our existing senior notes as follows (collectively, the "Existing Notes"): STI's 4.375% Senior Notes due 2030 and 3.75% Senior Notes due 2031 and STBV's 4.0% Senior Notes due 2029 and 5.875% Senior Notes due 2030. The 6.625% Senior Notes are STI’s, and the guarantees are the Guarantors’, senior unsecured obligations and rank equally in right of payment to all existing and future senior indebtedness of STI or the Guarantors, respectively, including indebtedness under the Senior Secured Credit Facilities, the Existing Notes and the 5.0% Senior Notes. The 6.625% Senior Notes Indenture contains covenants that limit the ability of Sensata Technologies B.V. ("STBV") and its subsidiaries (including STI and the other Guarantors) to, among other things: incur liens; engage in sale and leaseback transactions; with respect to any subsidiary of STBV (other than STI), incur indebtedness without such subsidiary’s guaranteeing the 6.625% Senior Notes; or consolidate, merge with, or sell, assign, convey, transfer, lease, or otherwise dispose of all or substantially all or substantially all of their properties or assets to, another person. These covenants are subject to important exceptions and qualifications set forth in the 6.625% Senior Notes Indenture. The guarantees of the 6.625% Senior Notes and certain of these covenants will be suspended if the 6.625% Senior Notes are assigned an investment-grade rating by either S&P Global Ratings or Moody’s Investors Service, Inc. and no default has occurred and is continuing. The guarantees of the 6.625% Senior Notes and the suspended covenants will be reinstated in the event that the 6.625% Senior Notes are rated below investment grade by both rating agencies or an event of default has occurred and is continuing at such time. The 6.625% Senior Notes Indenture provides for events of default (subject in certain cases to customary grace and cure periods), which include, among others, nonpayment of principal or interest when due, breach of covenants or other agreements in the 6.625% Senior Notes Indenture, defaults in payment of certain other indebtedness, certain events of bankruptcy or insolvency, failure to pay certain judgments, and failure of the guarantees of significant subsidiaries to remain in full force and effect. Generally, if an event of default occurs, the trustee or the holders of at least 25% in principal amount of the then outstanding 6.625% Senior Notes may declare the principal of and accrued but unpaid interest on all of the 6.625% Senior Notes to be due and payable immediately. All provisions regarding remedies in an event of default are subject to the 6.625% Senior Notes Indenture. At any time, and from time to time, prior to July 15, 2027, STI may redeem the 6.625% Senior Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the 6.625% Senior Notes being redeemed, plus a “make whole” premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time on or after July 15, 2027, STI may redeem the 6.625% Senior Notes, in whole or in part, at the following prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any, to, but excluding, the redemption date: Period beginning July 15, Price 2027 103.313 % 2028 101.656 % 2029 and thereafter 100.000 % In addition, at any time prior to July 15, 2027, STI may redeem up to 40% of the principal amount of the outstanding 6.625% Senior Notes (including additional 6.625% Senior Notes, if any) with the net cash proceeds of certain equity offerings at a redemption price (expressed as a percentage of principal amount) of 106.625%, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, provided that at least 60% of the aggregate principal amount of the 6.625% Senior Notes (including additional 6.625% Senior Notes, if any) remains outstanding immediately after each such redemption. Upon the occurrence of certain changes in control, each holder of the 6.625% Senior Notes will have the right to require STI to repurchase the 6.625% Senior Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase. Upon changes in certain tax laws or treaties, or any change in the official application, administration, or interpretation thereof, STI may, at its option, redeem the 6.625% Senior Notes, in whole but not in part, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, premium, if any, and all Additional Amounts (as defined in the 6.625% Senior Notes Indenture), if any, then due and which will become due on the date of redemption. Redemption of 5.0% Senior Notes On June 6, 2024, we announced that we intended to redeem in full the $700.0 million aggregate principal amount outstanding on our 5.0% senior notes due 2025 (the "5.0% Senior Notes"). Accordingly, we reflected the 5.0% Senior Notes as a current liability on our consolidated balance sheet as of June 30, 2024. We redeemed the 5.0% Senior Notes on July 15, 2024 in accordance with the terms of the indenture under which the 5.0% Senior Notes were issued and the terms of the notice of redemption, at a redemption price equal to 101% of the aggregate principal amount of the outstanding 5.0% Senior Notes, plus accrued and unpaid interest to (but not including) the redemption date. In addition to the $700.0 million aggregate principal amount outstanding, at redemption we paid the $7.0 million premium and $10.1 million accrued interest. Accounting for Debt Financing Transactions We account for our debt financing transactions as disclosed in Note 2: Significant Accounting Policies of the audited consolidated financial statements and notes thereto included in our 2023 Annual Report. In connection with the issuance of the 6.625% Senior Notes, we recognized $6.3 million of deferred financing costs, which are presented as a reduction of long-term debt on our condensed consolidated balance sheets. Other Indebtedness Refer to Note 14: Debt of the audited consolidated financial statements and notes thereto included in the 2023 Annual Report for additional information regarding our other indebtedness. 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 June 30, 2024 and December 31, 2023, accrued interest totaled $47.3 million and $45.2 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Purchase of noncontrolling interest in joint venture In February 2024, Sensata purchased the remaining 50% interest in the Company’s joint venture with Dongguan Churod Electronics Co., Ltd. for approximately $79.4 million. Prior to the transaction, the Company had been consolidating the joint venture. The purchase of the 50% non-controlling interest was accounted for as an equity transaction. No gain or loss was recognized in the condensed consolidated statements of operations. The difference between the fair value of the consideration paid and the amount by which the non-controlling interest was adjusted was recognized as a reduction of additional paid in capital recorded in equity. Cash Dividends In the three and six months ended June 30, 2024, we paid aggregate cash dividends of $18.1 million and $36.1 million, respectively, compared to $18.3 million and $35.1 million in the three and six months ended June 30, 2023, respectively. On July 18, 2024, we announced that our Board of Directors approved a quarterly dividend of $0.12 per share, payable on August 28, 2024 to shareholders of record as of August 14, 2024. Foreign Currency Translation Prior to October 1, 2023, the functional currency of the Company's wholly-owned subsidiaries in China was USD. Effective October 1, 2023, as a result of significant changes in economic facts and circumstances in the operations of our China foreign entities, the functional currency of the Company's wholly-owned subsidiaries in China changed to the CNY. The changes in economic facts and circumstances caused a permanent change to our strategy in China toward a more self-contained model, making China the primary economic environment in which these subsidiaries operate. This change was accounted for prospectively and does not impact prior period financial statements. As a result of this change, in the fourth quarter of 2023, we started recording an adjustment to translate these subsidiaries' financial statements from CNY to USD (our reporting currency). These adjustments are included in other comprehensive income and are presented under the heading Accumulated Other Comprehensive Income/(Loss) below. 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. Under these programs, we may repurchase ordinary shares at such times and in amounts to be determined by our management, based on market conditions, legal requirements, and other corporate considerations, on the open market or in privately negotiated transactions, provided that such transactions were completed pursuant to an agreement and with a third party approved by our shareholders at the annual general meeting. Ordinary shares repurchased by us are recognized, measured at cost, and presented as treasury shares on our consolidated balance sheets, resulting in a reduction of shareholders' equity. On January 20, 2022, our Board of Directors authorized a $500.0 million ordinary share repurchase program (the “January 2022 Program”), which replaced the previous $500.0 million program approved in July 2019. On September 26, 2023, our Board of Directors authorized a new $500.0 million ordinary share repurchase program (the “September 2023 Program”), which replaced the January 2022 Program and became effective on October 1, 2023. In the three months ended June 30, 2024, we did not repurchase any shares under our share repurchase program. In the three months ended June 30, 2023, we repurchased 0.6 million ordinary shares for $25.1 million, under our share repurchase programs. In the six months ended June 30, 2024 and 2023, we repurchased 0.3 million and 0.6 million ordinary shares, respectively, for $10.1 million and $25.1 million, respectively, under our share repurchase programs. As of June 30, 2024, $461.8 million remained available for repurchase under the September 2023 Program. Accumulated Other Comprehensive (Loss)/Income The following table presents the components of accumulated other comprehensive (loss)/income for the six months ended June 30, 2024: Cash Flow Hedges Defined Benefit and Retiree Healthcare Plans Cumulative Translation Adjustment Accumulated Other Comprehensive (Loss)/Income Balance as of December 31, 2023 $ 17,513 $ (28,499) $ 20,948 $ 9,962 Other comprehensive (loss)/income before reclassifications, net of tax 6,872 — (18,619) (11,747) Reclassifications from accumulated other comprehensive (loss)/income, net of tax (12,398) 435 — (11,963) Other comprehensive (loss)/income (5,526) 435 (18,619) (23,710) Balance as of June 30, 2024 $ 11,987 $ (28,064) $ 2,329 $ (13,748) The following table presents the amounts reclassified from accumulated other comprehensive (loss)/income for the three and six months ended June 30, 2024 and 2023: For the three months ended June 30, For the six months ended June 30, Affected Line in Condensed Consolidated Statements of Operations Component 2024 2023 2024 2023 Derivative instruments designated and qualifying as cash flow hedges: Foreign currency forward contracts $ (762) $ (4,394) $ (870) $ (11,033) Net revenue (1) Foreign currency forward contracts (8,485) (4,403) (15,839) (6,100) Cost of revenue (1) Total, before taxes (9,247) (8,797) (16,709) (17,133) Income before taxes Income tax effect 2,386 2,269 4,311 4,420 Provision for income taxes Total, net of taxes $ (6,861) $ (6,528) $ (12,398) $ (12,713) Net income Defined benefit and retiree healthcare plans $ 271 $ 311 $ 567 $ 848 Other, net Income tax effect (63) (87) (132) (231) Provision for income taxes Total, net of taxes $ 208 $ 224 $ 435 $ 617 Net income ___________________________________ (1) Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding amounts to be reclassified from accumulated other comprehensive (loss)/income in future periods.

Fair Value Measures

Fair Value Measures	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023 are shown in the below table. June 30, December 31, Assets Cash equivalents (Level 1) $ 738,456 $ 138,749 Foreign currency forward contracts (Level 2) 18,417 28,871 Commodity forward contracts (Level 2) 5,503 1,457 Total $ 762,376 $ 169,077 Liabilities Foreign currency forward contracts (Level 2) $ 6,895 $ 8,996 Commodity forward contracts (Level 2) 400 795 Total $ 7,295 $ 9,791 Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding our forward contracts. Cash equivalents consist of U.S. Government Treasury money market funds and are classified as Level 1 as they are exchange traded in an active market. Measured on a Nonrecurring Basis We evaluated our goodwill and other indefinite-lived intangible assets for impairment as of October 1, 2023 and determined that our Insights reporting unit was impaired. Refer to additional information in our 2023 Annual Report. No events or changes in circumstances occurred in the six months ended June 30, 2024 that would have triggered the need for an additional impairment review of our goodwill and other indefinite-lived intangible assets. In the three months ended March 31, 2024, we made the decision to reorganize our segments, as discussed in more detail in Note 1: Basis of Presentation . This reorganization resulted in the creation of a new reporting unit for a business that was previously part of the Automotive reporting unit, which was moved to the Sensing Solutions segment. We reassigned assets and liabilities, including goodwill, from the Automotive reporting unit to the new reporting unit as required by FASB ASC Topic 350. We evaluated our goodwill and other indefinite-lived intangible assets for impairment before and after the reorganization and formation of these reporting units and determined that they were not impaired. As a result of this reorganization, we allocated $143.4 million of goodwill to the new reporting unit in the three months ended March 31, 2024. 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 June 30, 2024 and December 31, 2023. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. June 30, 2024 December 31, 2023 Carrying Value (1) Fair Value Carrying Value (1) Fair Value Liabilities 5.0% Senior Notes $ 700,000 $ 705,250 $ 700,000 $ 694,750 4.375% Senior Notes $ 450,000 $ 412,313 $ 450,000 $ 415,125 3.75% Senior Notes $ 750,000 $ 648,750 $ 750,000 $ 656,250 4.0% Senior Notes $ 1,000,000 $ 915,000 $ 1,000,000 $ 920,000 5.875% Senior Notes $ 500,000 $ 487,500 $ 500,000 $ 495,000 6.625% Senior Notes $ 500,000 $ 501,250 $ — $ — ___________________________________ (1) Excluding any related debt discounts, premiums, and deferred financing costs. 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. 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. As of June 30, 2024 and December 31, 2023, we held equity investments under the measurement alternative of $6.3 million and $18.3 million, respectively, which are presented in other assets in the condensed consolidated balance sheets. In the six months ended June 30, 2024, we adjusted the carrying value of one of these equity investments as a result of an observable price change in the first quarter of 2024, resulting in a loss of $14.8 million.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023, amounts excluded from the assessment of effectiveness of our foreign currency forward contracts that are designated as cash flow hedges were not material. As of June 30, 2024, we estimated that $17.5 million of net gains will be reclassified from accumulated other comprehensive (loss)/income to earnings during the twelve-month period ending June 30, 2025. As of June 30, 2024, 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) 56.7 EUR June 26, 2024 July 31, 2024 Euro ("EUR") to USD 1.07 USD Not designated 399.5 EUR Various from July 2022 to June 2024 Various from July 2024 to June 2026 EUR to USD 1.11 USD Cash flow hedge 416.0 CNY June 25, 2024 July 31, 2024 USD to Chinese Renminbi ("CNY") 7.11 CNY Not designated 331.3 USD Various from March 2024 to May 2024 Various from July 2024 to May 2026 USD to CNY 7.03 CNY Cash flow hedge 33,857.9 KRW Various from September 2022 to June 2024 Various from July 2024 to May 2026 USD to Korean Won ("KRW") 1,300.38 KRW Cash flow hedge 23.6 MYR June 25, 2024 July 31, 2024 USD to Malaysian Ringgit ("MYR") 4.69 MYR Not designated 186.0 MXN June 26, 2024 July 31, 2024 USD to Mexican Peso ("MXN") 18.37 MXN Not designated 4,342.7 MXN Various from July 2022 to June 2024 Various from July 2024 to June 2026 USD to Mexican Peso ("MXN") 19.18 MXN Cash flow hedge 10.1 GBP June 26, 2024 July 31, 2024 British Pound Sterling ("GBP") to USD 1.26 USD Not designated 72.1 GBP Various from July 2022 to June 2024 Various from July 2024 to June 2026 GBP to USD 1.25 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. We may also enter into intercompany derivative instruments with our wholly-owned subsidiaries in order to hedge certain forecasted expenses. Hedges of Commodity Risk As of June 30, 2024, 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 695,638 troy oz. July 2024 to May 2026 $26.13 Copper 5,983,236 pounds July 2024 to May 2026 $4.02 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 June 30, 2024 and December 31, 2023: Asset Derivatives Liability Derivatives Balance Sheet Location June 30, December 31, Balance Sheet Location June 30, December 31, Derivatives designated as hedging instruments Foreign currency forward contracts Prepaid expenses and other current assets $ 15,501 $ 25,176 Accrued expenses and other current liabilities $ 3,487 $ 6,746 Foreign currency forward contracts Other assets 2,912 3,554 Other long-term liabilities 3,020 1,806 Total $ 18,413 $ 28,730 $ 6,507 $ 8,552 Derivatives not designated as hedging instruments Commodity forward contracts Prepaid expenses and other current assets $ 4,453 $ 1,314 Accrued expenses and other current liabilities $ 161 $ 719 Commodity forward contracts Other assets 1,050 143 Other long-term liabilities 239 76 Foreign currency forward contracts Prepaid expenses and other current assets 4 141 Accrued expenses and other current liabilities 388 444 Total $ 5,507 $ 1,598 $ 788 $ 1,239 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 June 30, 2024 and 2023: Derivatives designated as Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive (Loss)/Income Location of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income Amount of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income 2024 2023 2024 2023 Foreign currency forward contracts $ 5,675 $ 4,872 Net revenue $ 762 $ 4,394 Foreign currency forward contracts $ (16,407) $ 15,631 Cost of revenue $ 8,485 $ 4,403 Derivatives not designated as Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income 2024 2023 Commodity forward contracts $ 4,977 $ (6,269) Other, net Foreign currency forward contracts $ (1,837) $ 4,423 Other, net 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 six months ended June 30, 2024 and 2023: Derivatives designated as Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive (Loss)/Income Location of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income Amount of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income 2024 2023 2024 2023 Foreign currency forward contracts $ 16,640 $ 1,284 Net revenue $ 870 $ 11,033 Foreign currency forward contracts $ (7,455) $ 31,339 Cost of revenue $ 15,839 $ 6,100 Derivatives not designated as Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income 2024 2023 Commodity forward contracts $ 6,076 $ (4,370) Other, net Foreign currency forward contracts $ (1,157) $ 4,607 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.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We present financial information for two reportable segments, Performance Sensing and Sensing Solutions. In the three months ended March 31, 2024, we realigned our segments as a result of organizational changes that better allocate our resources to support changes to our business strategy. Refer to Note 1: Basis of Presentation for additional information. This realignment added an "other" segment that represents the aggregation of immaterial operating segments. As a result of this reorganization, we moved $143.4 million of goodwill from Performance Sensing to Sensing Solutions. Refer to Note 13: Fair Value Measures for additional information. Prior to the three months ended March 31, 2024, the Performance Sensing reportable segment represented the aggregation of two operating segments, Automotive and HVOR. As a result of the segment realignment, Performance Sensing now represents one operating segment, as does Sensing Solutions. Other immaterial operating segments are aggregated in other, which was created as part of the segment realignment. 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 expenses 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 2023 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 and six months ended June 30, 2024 and 2023 (prior periods have been recast). For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net revenue: Performance Sensing (1) $ 723,921 $ 693,563 $ 1,437,239 $ 1,361,325 Sensing Solutions (1) 268,071 331,060 525,910 614,510 Other (1) 43,543 37,489 79,095 84,452 Total net revenue $ 1,035,535 $ 1,062,112 $ 2,042,244 $ 2,060,287 Segment operating income (as defined above): Performance Sensing (1) $ 177,033 $ 180,407 $ 362,165 $ 349,473 Sensing Solutions (1) 79,839 94,154 152,318 178,174 Other (1) 9,204 738 15,985 5,708 Total segment operating income 266,076 275,299 530,468 533,355 Corporate and other (93,553) (81,464) (173,856) (143,905) Amortization of intangible assets (39,085) (54,563) (77,600) (95,337) Restructuring and other charges, net (3,491) (21,259) (4,273) (27,258) Operating income 129,947 118,013 274,739 266,855 Interest expense (40,863) (45,759) (79,258) (94,550) Interest income 5,802 7,654 9,540 16,354 Other, net 4,097 (10,924) (7,447) (9,532) Income before taxes $ 98,983 $ 68,984 $ 197,574 $ 179,127 ___________________________________ (1) The amounts previously reported for the three and six months ended June 30, 2023 have been retrospectively recast to reflect the segment realignment as discussed in Note 1: Basis of Presentation .

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Other than the subsequent event described in Note 10: Debt

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 71,703	$ 49,111	$ 147,724	$ 135,528

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Lynne Caljouw [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 15, 2024, Lynne Caljouw, Executive Vice President and Chief Administrative Officer, an officer for purposes of Section 16 of the Exchange Act, entered into a "Rule 10b5-1 trading arrangement" as such term is defined in Item 408(a) of Regulation S-K. This arrangement was entered into during an open trading window and provides for the potential sale of up to 63,232 ordinary shares contingent on attainment of certain price per share of our common stock. The earliest sell date is August 14, 2024 and the plan will terminate upon the earlier of May 30, 2025 or the date all ordinary shares under the plan are sold. In addition, Ms. Caljouw may terminate the plan at any time.
Name	Lynne Caljouw
Title	Executive Vice President and Chief Administrative Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 15, 2024
Expiration Date	May 30, 2025
Arrangement Duration	380 days
Aggregate Available	63,232	63,232

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
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 interim 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, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 29, 2024 (the "2023 Annual Report"). In the three months ended March 31, 2024, we realigned our business as a result of organizational changes that better allocate our resources to support changes to our business strategy. The most significant changes include combining our Automotive and HVOR businesses (with the combined business remaining in Performance Sensing) and moving the Insights business out of Performance Sensing to a new operating segment, which is not aggregated within either of our reportable segments. We combined the Automotive and HVOR businesses to better leverage our core capabilities and prioritize product focus. We also moved certain shorter-cycle businesses from Performance Sensing to Sensing Solutions, which will benefit from organizing these businesses together, by allowing us to scale core capabilities and better serve our customers. Prior year amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment. Refer to Note 15: Segment Reporting for additional information In the three and six months ended June 30, 2024, we presented interest income on the condensed consolidated statements of operations separate from interest expense. In the three and six months ended June 30, 2023, interest income had been included in interest expense, net. Accordingly, we reclassified prior period interest income to a separate caption in the condensed consolidated statements of operations to conform to current period presentation.
New Accounting Standards	In November 2023, the FASB issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures , to improve disclosures about a public entity's reportable segments. This guidance requires that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss and an amount for "other segment items" included in the determination of segment operating income. The guidance also requires that a public entity provide all annual disclosures about a reportable segment's profit or loss and assets currently required by FASB ASC Topic 280, Segment Reporting , in interim periods, and that a public entity provide the title and position of the chief operating decision maker. There is no change to the guidance for identification or aggregation of operating or reportable segments. FASB ASU No. 2023-07 will be effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The guidance must be applied retrospectively to all prior periods presented. We adopted the guidance in FASB ASU No. 2023-07 on January 1, 2024 and will include the required new annual and quarterly disclosures in our Annual Report on Form 10-K for the period ended December 31, 2024 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2025, respectively. In December 2023, the FASB issued ASU No. 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosures , to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The guidance also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, the standard is effective for annual periods beginning after December 15, 2024. We do not expect the adoption of FASB ASU No. 2023-09 to have an impact on our results of operations or financial condition, but it is expected to increase the amount of disclosures required in the notes to the consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present net revenue disaggregated by segment and end market for the three and six months ended June 30, 2024 and 2023 for our two reportable segments, Performance Sensing ("PS") and Sensing Solutions ("SS"), and other: For the three months ended June 30, 2024 For the three months ended June 30, 2023 (1) PS SS Other Total PS SS Other (1) Total Automotive (1) $ 543,158 $ 32,389 $ — $ 575,547 $ 511,616 $ 28,202 $ — $ 539,818 HVOR (1)(3) 180,763 7,530 — 188,293 181,947 7,740 — 189,687 Industrial — 126,636 — 126,636 — 185,202 — 185,202 Appliance and HVAC (2) — 55,003 — 55,003 — 50,952 — 50,952 Aerospace — 45,371 — 45,371 — 46,832 — 46,832 Other (1) — 1,142 43,543 44,685 — 12,132 37,489 49,621 Total $ 723,921 $ 268,071 $ 43,543 $ 1,035,535 $ 693,563 $ 331,060 $ 37,489 $ 1,062,112 For the six months ended June 30, 2024 For the six months ended June 30, 2023 (1) PS SS Other Total PS SS Other (1) Total Automotive (1) $ 1,073,782 $ 64,797 $ — $ 1,138,579 $ 1,010,711 $ 54,125 $ — $ 1,064,836 HVOR (1) 363,457 14,388 — 377,845 350,614 13,494 — 364,108 Industrial — 250,917 — 250,917 — 333,714 — 333,714 Appliance and HVAC — 102,058 — 102,058 — 98,426 — 98,426 Aerospace — 91,524 — 91,524 — 91,158 — 91,158 Other (1) — 2,226 79,095 81,321 — 23,593 84,452 108,045 Total $ 1,437,239 $ 525,910 $ 79,095 $ 2,042,244 $ 1,361,325 $ 614,510 $ 84,452 $ 2,060,287 ___________________________________ (1) In the three months ended March 31, 2024, we realigned our segments, as discussed further in Note 1: Basis of Presentation and Note 15: Segment Reporting . As a result, certain revenue in the Automotive and HVOR end markets have been moved from Performance Sensing to Sensing Solutions. In addition, Insights revenue was moved from the HVOR end market (in Performance Sensing) to the other end market in a separate operating segment that is not aggregated within either of our reportable segments. The three and six months ended June 30, 2023 have been retrospectively recast to reflect this change. (2) Heating, ventilation and air conditioning. (3) Heavy vehicle and off-road.

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	6 Months Ended
	Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Stock options $ 569 $ (205) $ 569 $ (86) Restricted securities 3,242 10,606 11,375 17,693 Share-based compensation expense $ 3,811 $ 10,401 $ 11,944 $ 17,607
Schedule of Equity Awards	We granted the following restricted stock units ("RSUs" and each, an "RSU") and performance-based restricted stock units ("PRSUs" and each, a "PRSU") under the Sensata Technologies Holding plc 2021 Equity Incentive Plan during the six months ended June 30, 2024: Awards Granted To: Type of Award Number of Units Granted (in thousands) Weighted Average Grant Date Fair Value Directors RSU (1) 41 $ 39.08 Various executives RSU (2) 350 $ 37.18 Various executives and employees RSU (3) 646 $ 36.48 Various executives and employees PRSU (4) 159 $ 36.53 Various executives and employees PRSU (5) 159 $ 38.90 ____________________________________ (1) These RSUs cliff vest one year from the grant date (various dates between March 2025 and June 2025). (2) These RSUs vest on various dates over the next 18 months depending on service or performance criteria. (3) These RSUs vest ratably over three years, one-third per year beginning on the first anniversary of the grant date. These RSUs will fully vest on various dates between February 2027 and June 2027. (4) These PRSUs vest on various dates between April 2027 and June 2027. The number of units that ultimately vest will be between 0% and 150% and is dependent on the achievement of certain performance criteria. (5)

Restructuring and Other Charg_2

Restructuring and Other Charges, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Other Charges, Net	These restructuring charges impacted our business segments and corporate functions as follows: (Dollars in thousands) Positions Charges Performance Sensing 160 8,495 Sensing Solutions 150 7,495 Corporate and other 200 9,510 Total 510 25,500 Restructuring charges, net recognized in the three and six months ended June 30, 2024 resulting from the Q3 2023 Plan are presented by business segment and corporate functions below. No charges were recognized in the three and six months ended June 30, 2023. For the three months ended June 30, 2024 For the six months ended June 30, 2024 (In thousands) Severance Facility and other exit costs Severance Facility and other exit costs Performance Sensing $ (181) $ — $ 347 $ — Sensing Solutions 215 79 (134) 79 Corporate and other (416) — 3 — Q3 2023 Plan total $ (382) $ 79 $ 216 $ 79 For the three months ended For the six months ended Location June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Accelerated amortization Amortization of intangible assets $ — $ 13,527 $ — $ 13,527 Write-down of inventory Cost of revenue — 10,479 — 10,479 Severance charges Restructuring and other charges, net (254) 1,168 (328) 1,168 Write-down of property, plant and equipment Restructuring and other charges, net — 1,735 5 1,735 Other charges, including contract termination costs Restructuring and other charges, net 343 11,402 (592) 11,402 Total $ 89 $ 38,311 $ (915) $ 38,311 The following table presents the charges and gains included as components of restructuring and other charges, net for the three and six months ended June 30, 2024, and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Q3 2023 Plan charges, net (1) $ (303) $ — $ 295 $ — Other restructuring and other charges, net Severance charges, net (2) 2,464 4,749 2,455 8,962 Facility and other exit costs 32 310 200 535 Gain on sale of business — — — (5,877) Acquisition-related compensation arrangements (3) 955 3,330 1,910 10,602 Other (4) 343 12,870 (587) 13,036 Restructuring and other charges, net $ 3,491 $ 21,259 $ 4,273 $ 27,258 ___________________________________ (1) Includes net severance charges and facility and other exit costs relating to the Q3 2023 Plan as detailed under the heading Q3 2023 Plan above. (2) Each period presented includes severance charges, net of reversals, that do not represent the initiation of a larger restructuring plan. This includes, for the three and six months ended June 30, 2024, severance related to certain actions to restructure our IT operations. In addition, the three and six months ended June 30, 2024, include certain costs to exit the Spear Marine Business as detailed under the heading Spear Marine Business above. (3) Acquisition-related compensation arrangements consist of incentive compensation to previous owners of companies we have acquired. Payment is generally tied to technical and/or financial targets termed at the time of acquisition. (4) Represents charges that are not included in one of the other classifications. The three and six months ended June 30, 2023 primarily include charges related to the exit of the Spear Marine Business, as detailed under the heading Spear Marine Business above. The three and six months ended June 30, 2024, includes contract termination costs related to certain product lifecycle management activities.
Schedule of Severance Liability	The following table presents a rollforward of our severance liability for the six months ended June 30, 2024: Q3 2023 Plan Other Total Balance as of December 31, 2023 $ 6,017 $ 769 $ 6,786 Charges, net of reversals 216 2,455 2,671 Payments (4,419) (2,125) (6,544) Foreign currency remeasurement (129) (94) (223) Balance as of June 30, 2024 $ 1,685 $ 1,005 $ 2,690

Other, Net (Tables)

Other, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other, Net	The following table presents the components of other, net for the three and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Currency remeasurement gain/(loss) on net monetary assets $ 3,398 $ (9,307) $ 4,429 $ (10,566) (Loss)/gain on foreign currency forward contracts (1,837) 4,423 (1,157) 4,607 Gain/(loss) on commodity forward contracts 4,977 (6,269) 6,076 (4,370) Loss on debt financing — (372) — (857) Loss on equity investments, net (1) (1,019) (302) (14,306) (302) Net periodic benefit cost, excluding service cost (820) (810) (1,661) (1,781) Other (602) 1,713 (828) 3,737 Other, net $ 4,097 $ (10,924) $ (7,447) $ (9,532) ___________________________________ (1) The six months ended June 30, 2024 primarily includes a loss on an equity investment that does not have a readily determinable fair value for which we use the measurement alternative prescribed in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 321, Investments—Equity Securities . Refer to Note 13: Fair Value Measures for additional information.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The following table presents the provision for income taxes for the three and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Provision for income taxes $ 27,280 $ 19,873 $ 49,850 $ 43,599

Net Income per Share (Tables)

Net Income per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Weighted-Average Ordinary Shares Outstanding	For the three and six months ended June 30, 2024 and 2023 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Basic weighted-average ordinary shares outstanding 150,845 152,700 150,663 152,609 Dilutive effect of stock options 8 55 4 103 Dilutive effect of unvested restricted securities 276 309 358 482 Diluted weighted-average ordinary shares outstanding 151,129 153,064 151,025 153,194
Schedule of Antidilutive Securities	These potential ordinary shares were as follows: For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Anti-dilutive shares excluded 1,239 1,625 1,501 1,003 Contingently issuable shares excluded 929 1,366 995 1,317

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	The following table presents the components of inventories as of June 30, 2024 and December 31, 2023: June 30, December 31, Finished goods $ 197,398 $ 223,972 Work-in-process 132,818 113,209 Raw materials 378,083 376,304 Inventories $ 708,299 $ 713,485

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt, Net and Finance Lease Obligations	The following table presents the components of long-term debt, net and finance lease obligations as of June 30, 2024 and December 31, 2023: Maturity Date June 30, December 31, 5.0% Senior Notes (1) 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 5.875% Senior Notes September 1, 2030 500,000 500,000 6.625% Senior Notes (1) July 15, 2032 500,000 — Less: debt discount, net of premium (891) (1,568) Less: deferred financing costs (28,305) (24,444) Less: current portion (1) (700,000) — Long-term debt, net $ 3,170,804 $ 3,373,988 Finance lease obligations $ 24,665 $ 25,225 Less: current portion (2,701) (2,276) Finance lease obligations, less current portion $ 21,964 $ 22,949 ___________________________________ (1) On June 6, 2024, our indirect, wholly-owned subsidiary, Sensata Technologies, Inc. ("STI"), completed the issuance and sale of $500.0 million aggregate principal amount of 6.625% senior notes due 2032 (the "6.625% Senior Notes"). On July 15, 2024, we used the proceeds from this issuance, together with cash on hand, for the redemption in full of the $700.0 million aggregate principal amount of 5.0% senior notes due 2025 (the "5.0% Senior Notes"), which were issued by our indirect, wholly-owned subsidiary, Sensata Technologies B.V. ("STBV"). Accordingly, we have presented the 5.0% Senior Notes within the current portion of long-term debt on our condensed consolidated balance sheet as of June 30, 2024.
Schedule of Debt Instrument Redemption	At any time on or after July 15, 2027, STI may redeem the 6.625% Senior Notes, in whole or in part, at the following prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any, to, but excluding, the redemption date: Period beginning July 15, Price 2027 103.313 % 2028 101.656 % 2029 and thereafter 100.000 %

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Roll Forward of Components of Accumulated Other Comprehensive (Loss)/Income	The following table presents the components of accumulated other comprehensive (loss)/income for the six months ended June 30, 2024: Cash Flow Hedges Defined Benefit and Retiree Healthcare Plans Cumulative Translation Adjustment Accumulated Other Comprehensive (Loss)/Income Balance as of December 31, 2023 $ 17,513 $ (28,499) $ 20,948 $ 9,962 Other comprehensive (loss)/income before reclassifications, net of tax 6,872 — (18,619) (11,747) Reclassifications from accumulated other comprehensive (loss)/income, net of tax (12,398) 435 — (11,963) Other comprehensive (loss)/income (5,526) 435 (18,619) (23,710) Balance as of June 30, 2024 $ 11,987 $ (28,064) $ 2,329 $ (13,748)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive (Loss)/Income	The following table presents the amounts reclassified from accumulated other comprehensive (loss)/income for the three and six months ended June 30, 2024 and 2023: For the three months ended June 30, For the six months ended June 30, Affected Line in Condensed Consolidated Statements of Operations Component 2024 2023 2024 2023 Derivative instruments designated and qualifying as cash flow hedges: Foreign currency forward contracts $ (762) $ (4,394) $ (870) $ (11,033) Net revenue (1) Foreign currency forward contracts (8,485) (4,403) (15,839) (6,100) Cost of revenue (1) Total, before taxes (9,247) (8,797) (16,709) (17,133) Income before taxes Income tax effect 2,386 2,269 4,311 4,420 Provision for income taxes Total, net of taxes $ (6,861) $ (6,528) $ (12,398) $ (12,713) Net income Defined benefit and retiree healthcare plans $ 271 $ 311 $ 567 $ 848 Other, net Income tax effect (63) (87) (132) (231) Provision for income taxes Total, net of taxes $ 208 $ 224 $ 435 $ 617 Net income ___________________________________ (1) Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding amounts to be reclassified from accumulated other comprehensive (loss)/income in future periods.

Fair Value Measures (Tables)

Fair Value Measures (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023 are shown in the below table. June 30, December 31, Assets Cash equivalents (Level 1) $ 738,456 $ 138,749 Foreign currency forward contracts (Level 2) 18,417 28,871 Commodity forward contracts (Level 2) 5,503 1,457 Total $ 762,376 $ 169,077 Liabilities Foreign currency forward contracts (Level 2) $ 6,895 $ 8,996 Commodity forward contracts (Level 2) 400 795 Total $ 7,295 $ 9,791
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 June 30, 2024 and December 31, 2023. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. June 30, 2024 December 31, 2023 Carrying Value (1) Fair Value Carrying Value (1) Fair Value Liabilities 5.0% Senior Notes $ 700,000 $ 705,250 $ 700,000 $ 694,750 4.375% Senior Notes $ 450,000 $ 412,313 $ 450,000 $ 415,125 3.75% Senior Notes $ 750,000 $ 648,750 $ 750,000 $ 656,250 4.0% Senior Notes $ 1,000,000 $ 915,000 $ 1,000,000 $ 920,000 5.875% Senior Notes $ 500,000 $ 487,500 $ 500,000 $ 495,000 6.625% Senior Notes $ 500,000 $ 501,250 $ — $ — ___________________________________ (1) Excluding any related debt discounts, premiums, and deferred financing costs.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivative Instruments	As of June 30, 2024, 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) 56.7 EUR June 26, 2024 July 31, 2024 Euro ("EUR") to USD 1.07 USD Not designated 399.5 EUR Various from July 2022 to June 2024 Various from July 2024 to June 2026 EUR to USD 1.11 USD Cash flow hedge 416.0 CNY June 25, 2024 July 31, 2024 USD to Chinese Renminbi ("CNY") 7.11 CNY Not designated 331.3 USD Various from March 2024 to May 2024 Various from July 2024 to May 2026 USD to CNY 7.03 CNY Cash flow hedge 33,857.9 KRW Various from September 2022 to June 2024 Various from July 2024 to May 2026 USD to Korean Won ("KRW") 1,300.38 KRW Cash flow hedge 23.6 MYR June 25, 2024 July 31, 2024 USD to Malaysian Ringgit ("MYR") 4.69 MYR Not designated 186.0 MXN June 26, 2024 July 31, 2024 USD to Mexican Peso ("MXN") 18.37 MXN Not designated 4,342.7 MXN Various from July 2022 to June 2024 Various from July 2024 to June 2026 USD to Mexican Peso ("MXN") 19.18 MXN Cash flow hedge 10.1 GBP June 26, 2024 July 31, 2024 British Pound Sterling ("GBP") to USD 1.26 USD Not designated 72.1 GBP Various from July 2022 to June 2024 Various from July 2024 to June 2026 GBP to USD 1.25 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. We may also enter into intercompany derivative instruments with our wholly-owned subsidiaries in order to hedge certain forecasted expenses. As of June 30, 2024, 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 695,638 troy oz. July 2024 to May 2026 $26.13 Copper 5,983,236 pounds July 2024 to May 2026 $4.02
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023: Asset Derivatives Liability Derivatives Balance Sheet Location June 30, December 31, Balance Sheet Location June 30, December 31, Derivatives designated as hedging instruments Foreign currency forward contracts Prepaid expenses and other current assets $ 15,501 $ 25,176 Accrued expenses and other current liabilities $ 3,487 $ 6,746 Foreign currency forward contracts Other assets 2,912 3,554 Other long-term liabilities 3,020 1,806 Total $ 18,413 $ 28,730 $ 6,507 $ 8,552 Derivatives not designated as hedging instruments Commodity forward contracts Prepaid expenses and other current assets $ 4,453 $ 1,314 Accrued expenses and other current liabilities $ 161 $ 719 Commodity forward contracts Other assets 1,050 143 Other long-term liabilities 239 76 Foreign currency forward contracts Prepaid expenses and other current assets 4 141 Accrued expenses and other current liabilities 388 444 Total $ 5,507 $ 1,598 $ 788 $ 1,239
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	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 June 30, 2024 and 2023: Derivatives designated as Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive (Loss)/Income Location of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income Amount of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income 2024 2023 2024 2023 Foreign currency forward contracts $ 5,675 $ 4,872 Net revenue $ 762 $ 4,394 Foreign currency forward contracts $ (16,407) $ 15,631 Cost of revenue $ 8,485 $ 4,403 Derivatives not designated as Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income 2024 2023 Commodity forward contracts $ 4,977 $ (6,269) Other, net Foreign currency forward contracts $ (1,837) $ 4,423 Other, net 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 six months ended June 30, 2024 and 2023: Derivatives designated as Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive (Loss)/Income Location of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income Amount of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income 2024 2023 2024 2023 Foreign currency forward contracts $ 16,640 $ 1,284 Net revenue $ 870 $ 11,033 Foreign currency forward contracts $ (7,455) $ 31,339 Cost of revenue $ 15,839 $ 6,100 Derivatives not designated as Amount of Gain/(Loss) Recognized in Net Income Location of Gain/(Loss) Recognized in Net Income 2024 2023 Commodity forward contracts $ 6,076 $ (4,370) Other, net Foreign currency forward contracts $ (1,157) $ 4,607 Other, net

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023 (prior periods have been recast). For the three months ended For the six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net revenue: Performance Sensing (1) $ 723,921 $ 693,563 $ 1,437,239 $ 1,361,325 Sensing Solutions (1) 268,071 331,060 525,910 614,510 Other (1) 43,543 37,489 79,095 84,452 Total net revenue $ 1,035,535 $ 1,062,112 $ 2,042,244 $ 2,060,287 Segment operating income (as defined above): Performance Sensing (1) $ 177,033 $ 180,407 $ 362,165 $ 349,473 Sensing Solutions (1) 79,839 94,154 152,318 178,174 Other (1) 9,204 738 15,985 5,708 Total segment operating income 266,076 275,299 530,468 533,355 Corporate and other (93,553) (81,464) (173,856) (143,905) Amortization of intangible assets (39,085) (54,563) (77,600) (95,337) Restructuring and other charges, net (3,491) (21,259) (4,273) (27,258) Operating income 129,947 118,013 274,739 266,855 Interest expense (40,863) (45,759) (79,258) (94,550) Interest income 5,802 7,654 9,540 16,354 Other, net 4,097 (10,924) (7,447) (9,532) Income before taxes $ 98,983 $ 68,984 $ 197,574 $ 179,127 ___________________________________ (1) The amounts previously reported for the three and six months ended June 30, 2023 have been retrospectively recast to reflect the segment realignment as discussed in Note 1: Basis of Presentation .

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 segment	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($) segment
Revenue from Contract with Customer [Abstract]
Number of reporting segments | segment		2		2	2
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,035,535		$ 1,062,112	$ 2,042,244	$ 2,060,287
Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	1,035,535		1,062,112	2,042,244	2,060,287
Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	43,543		37,489	79,095	84,452
PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	723,921		693,563	1,437,239	1,361,325
SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	268,071		331,060	525,910	614,510
Automotive
Disaggregation of Revenue [Line Items]
Net revenue	575,547		539,818	1,138,579	1,064,836
Automotive | Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Automotive | PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	543,158		511,616	1,073,782	1,010,711
Automotive | SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	32,389		28,202	64,797	54,125
HVOR
Disaggregation of Revenue [Line Items]
Net revenue	188,293		189,687	377,845	364,108
HVOR | Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
HVOR | PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	180,763		181,947	363,457	350,614
HVOR | SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	7,530		7,740	14,388	13,494
Industrial
Disaggregation of Revenue [Line Items]
Net revenue	126,636		185,202	250,917	333,714
Industrial | Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Industrial | PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Industrial | SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	126,636		185,202	250,917	333,714
Appliance and HVAC
Disaggregation of Revenue [Line Items]
Net revenue	55,003		50,952	102,058	98,426
Appliance and HVAC | Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Appliance and HVAC | PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Appliance and HVAC | SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	55,003		50,952	102,058	98,426
Aerospace
Disaggregation of Revenue [Line Items]
Net revenue	45,371		46,832	91,524	91,158
Aerospace | Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Aerospace | PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Aerospace | SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	45,371		46,832	91,524	91,158
Other
Disaggregation of Revenue [Line Items]
Net revenue	44,685		49,621	81,321	108,045
Other | Segment Reconciling Items
Disaggregation of Revenue [Line Items]
Net revenue	43,543		37,489	79,095	84,452
Other | PS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	0		0	0	0
Other | SS | Operating Segments
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,142		$ 12,132	$ 2,226	$ 23,593

Share-Based Payment Plans - Sha

Share-Based Payment Plans - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,811	$ 10,401	$ 11,944	$ 17,607
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	569	(205)	569	(86)
Restricted securities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,242	$ 10,606	$ 11,375	$ 17,693

Share-Based Payment Plans - Equ

Share-Based Payment Plans - Equity Awards (Details) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Directors | RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares) | shares	41
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 39.08
Award vesting period	1 year
Various executives | RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares) | shares	350
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 37.18
Award vesting period	18 months
Various executives and employees | RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares) | shares	646
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 36.48
Award vesting period	3 years
Award vesting percentage	33.33%
Various executives and employees | PRSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares) | shares	159
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 36.53
Various executives and employees | PRSU | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	0%
Various executives and employees | PRSU | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	150%
Various executives and employees | PRSU with Performance Criteria Evaluated relative to Certain Peers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares) | shares	159
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 38.90
Total grant date value | $	$ 6.2
Various executives and employees | PRSU with Performance Criteria Evaluated relative to Certain Peers | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	0%
Various executives and employees | PRSU with Performance Criteria Evaluated relative to Certain Peers | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	150%

Restructuring and Other Charg_3

Restructuring and Other Charges, Net - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) position
Q3 2023 Plan
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated | position		510
Charges	$ 25,500	$ 25,500
IT Operations and Product Lifecycle Management Restructuring | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs	15,900	15,900
IT Operations and Product Lifecycle Management Restructuring | Cost of revenue | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 13,200	$ 13,200

Restructuring and Other Charg_4

Restructuring and Other Charges, Net - Expected Restructuring Charges by Impacted Segment (Details) - Q3 2023 Plan $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) position
Restructuring Cost and Reserve [Line Items]
Positions | position	510
Charges | $	$ 25,500
Corporate and other
Restructuring Cost and Reserve [Line Items]
Positions | position	200
Charges | $	$ 9,510
Performance Sensing | Operating Segments
Restructuring Cost and Reserve [Line Items]
Positions | position	160
Charges | $	$ 8,495
Sensing Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Positions | position	150
Charges | $	$ 7,495

Restructuring and Other Charg_5

Restructuring and Other Charges, Net - Restructuring Charges by Impacted Segment (Details) - Q3 2023 Plan - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Restructuring Cost and Reserve [Line Items]
Severance	$ (382)	$ 216
Facility and other exit costs	79	79
Corporate and other
Restructuring Cost and Reserve [Line Items]
Severance	(416)	3
Facility and other exit costs	0	0
Performance Sensing | Operating Segments
Restructuring Cost and Reserve [Line Items]
Severance	(181)	347
Facility and other exit costs	0	0
Sensing Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Severance	215	(134)
Facility and other exit costs	$ 79	$ 79

Restructuring and Other Charg_6

Restructuring and Other Charges, Net - Components of Restructuring Charges Related to Business Exit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Accelerated amortization	$ 39,085	$ 54,563	$ 77,600	$ 95,337
Exiting Marine Business
Restructuring Cost and Reserve [Line Items]
Accelerated amortization	0	13,527	0	13,527
Write-down of inventory	0	10,479	0	10,479
Severance	(254)	1,168	(328)	1,168
Write-down of property, plant and equipment	0	1,735	5	1,735
Other charges, including contract termination costs	343	11,402	(592)	11,402
Total	$ 89	$ 38,311	$ (915)	$ 38,311

Restructuring and Other Charg_7

Restructuring and Other Charges, Net - Components of Restructuring and Other Charges, Net (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Gain on sale of business			$ 0	$ (5,877,000)
Restructuring and other charges, net	$ 3,491,000	$ 21,259,000	4,273,000	27,258,000
Q3 2023 Plan charges
Restructuring Cost and Reserve [Line Items]
Q3 2023 Plan charges, net	(303,000)	0	295,000	0
Severance charges, net	(382,000)		216,000
Facility and other exit costs	79,000		79,000
Other
Restructuring Cost and Reserve [Line Items]
Severance charges, net	2,464,000	4,749,000	2,455,000	8,962,000
Facility and other exit costs	32,000	310,000	200,000	535,000
Gain on sale of business	0	0	0	(5,877,000)
Acquisition-related compensation arrangements	955,000	3,330,000	1,910,000	10,602,000
Other	$ 343,000	$ 12,870,000	$ (587,000)	$ 13,036,000

Restructuring and Other Charg_8

Restructuring and Other Charges, Net - Schedule of Severance Liability (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Q3 2023 Plan
Restructuring Reserve [Roll Forward]
Charges, net of reversals	$ (303,000)	$ 0	$ 295,000	$ 0
Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			6,786,000
Charges, net of reversals			2,671,000
Payments			(6,544,000)
Foreign currency remeasurement			(223,000)
Restructuring reserve, ending balance	2,690,000		2,690,000
Severance | Q3 2023 Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			6,017,000
Charges, net of reversals			216,000
Payments			(4,419,000)
Foreign currency remeasurement			(129,000)
Restructuring reserve, ending balance	1,685,000		1,685,000
Severance | Other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			769,000
Charges, net of reversals			2,455,000
Payments			(2,125,000)
Foreign currency remeasurement			(94,000)
Restructuring reserve, ending balance	$ 1,005,000		$ 1,005,000

Other, Net (Details)

Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Currency remeasurement gain/(loss) on net monetary assets	$ 3,398	$ (9,307)	$ 4,429	$ (10,566)
(Loss)/gain on foreign currency forward contracts	(1,837)	4,423	(1,157)	4,607
Gain/(loss) on commodity forward contracts	4,977	(6,269)	6,076	(4,370)
Loss on debt financing	0	(372)	0	(857)
Loss on equity investments, net	(1,019)	(302)	(14,306)	(302)
Net periodic benefit cost, excluding service cost	(820)	(810)	(1,661)	(1,781)
Other	(602)	1,713	(828)	3,737
Other, net	$ 4,097	$ (10,924)	$ (7,447)	$ (9,532)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 27,280	$ 19,873	$ 49,850	$ 43,599

Net Income per Share - Schedule

Net Income per Share - Schedule of Weighted Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Basic weighted-average ordinary shares outstanding (in shares)	150,845	152,700	150,663	152,609
Dilutive effect of stock options (in shares)	8	55	4	103
Dilutive effect of unvested restricted securities (in shares)	276	309	358	482
Diluted weighted-average ordinary shares outstanding (in shares)	151,129	153,064	151,025	153,194

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Anti-dilutive shares excluded
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded (in shares)	1,239	1,625	1,501	1,003
Contingently issuable shares excluded
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded (in shares)	929	1,366	995	1,317

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 197,398	$ 223,972
Work-in-process	132,818	113,209
Raw materials	378,083	376,304
Inventories	$ 708,299	$ 713,485

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt, Net and Finance Lease Obligations (Details) - USD ($)	Jul. 15, 2024	Jun. 30, 2024	Jun. 06, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less: debt discount, net of premium		$ (891,000)		$ (1,568,000)
Less: deferred financing costs		(28,305,000)		(24,444,000)
Less: current portion		(700,000,000)		0
Long-term debt, net		3,170,804,000		3,373,988,000
Finance lease obligations		24,665,000		25,225,000
Less: current portion		(2,701,000)		(2,276,000)
Finance lease obligations, less current portion		$ 21,964,000		22,949,000
Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount	$ 700,000,000
Senior Notes | 5.0% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		5%	5%
Gross long-term debt		$ 700,000,000		700,000,000
Senior Notes | 5.0% Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Debt, stated interest rate	5%
Senior Notes | 4.375% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		4.375%
Gross long-term debt		$ 450,000,000		450,000,000
Debt instrument, face amount		$ 450,000,000		450,000,000
Senior Notes | 3.75% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		3.75%
Gross long-term debt		$ 750,000,000		750,000,000
Debt instrument, face amount		$ 750,000,000		750,000,000
Senior Notes | 4.0% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		4%
Gross long-term debt		$ 1,000,000,000		1,000,000,000
Debt instrument, face amount		$ 1,000,000,000		1,000,000,000
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		5.875%
Gross long-term debt		$ 500,000,000		500,000,000
Debt instrument, face amount		$ 500,000,000		500,000,000
Senior Notes | 6.625% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		6.625%	6.625%
Gross long-term debt		$ 500,000,000		$ 0
Less: deferred financing costs			$ (6,300,000)
Debt instrument, face amount			$ 500,000,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)		6 Months Ended
	Jul. 15, 2024	Jun. 30, 2024	Jun. 06, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Deferred financing costs		$ 28,305,000		$ 24,444,000
Accrued interest		$ 47,300,000		45,200,000
Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount	$ 700,000,000
6.625% Senior Notes | Debt Instrument, Redemption Period, Prior to September 1, 2025
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage		106.625%
Percentage of principal amount of debt redeemed		40%
Debt redemption term, percentage of aggregate principal amount remains outstanding (at least)		60%
Senior Notes | 4.375% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		4.375%
Debt instrument, face amount		$ 450,000,000		450,000,000
Senior Notes | 3.75% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		3.75%
Debt instrument, face amount		$ 750,000,000		750,000,000
Senior Notes | 4.0% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		4%
Debt instrument, face amount		$ 1,000,000,000		1,000,000,000
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		5.875%
Debt instrument, face amount		$ 500,000,000		500,000,000
Senior Notes | 6.625% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		6.625%	6.625%
Debt instrument, face amount			$ 500,000,000
Debt term, percentage of holders in event of defaults (at least)		25%
Debt instrument, redemption price, percentage		100%
Redemption price, percentage offered on change of control		101%
Debt instrument, redemption price, percentage offered on changes related to tax		100%
Deferred financing costs			$ 6,300,000
Senior Notes | 5.0% Senior Notes
Debt Instrument [Line Items]
Debt, stated interest rate		5%	5%
Debt redemption, aggregate principal amount			$ 700,000,000
Senior Notes | 5.0% Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Debt, stated interest rate	5%
Debt instrument, redemption price, percentage	101%
Redemption premium paid	$ 7,000,000
Payment of term loan accrued interest	$ 10,100,000
6.625% Senior Notes | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 750,000,000		$ 750,000,000
Amount available under revolving credit facility		746,100,000
Letters of credit outstanding		3,900,000
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Long-term line of credit		$ 0

Debt - Schedule of Debt Instrum

Debt - Schedule of Debt Instrument Redemption (Details) - 6.625% Senior Notes	6 Months Ended
	Jun. 30, 2024
Debt Instrument, Redemption Period, Beginning July 15, 2027
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	103.313%
Debt Instrument, Redemption Period, Beginning July 15, 2028
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	101.656%
Debt Instrument, Redemption Period, Beginning July 15, 2029 and thereafter
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	100%

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 18, 2024	Feb. 29, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 26, 2023	Jan. 20, 2022
Equity, Class of Treasury Stock [Line Items]
Purchase of noncontrolling interest in joint venture					$ 79,393,000	$ 0
Dividends paid			$ 18,100,000	$ 18,300,000	36,148,000	35,113,000
Repurchase of ordinary shares				$ (25,125,000)	$ (10,052,000)	$ (25,125,000)
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Dividends declared pre share (in dollars per share)	$ 0.12
Treasury Shares
Equity, Class of Treasury Stock [Line Items]
Repurchase of ordinary shares (in shares)			0	(590,000)	(275,000)	(590,000)
Repurchase of ordinary shares				$ (25,125,000)	$ (10,052,000)	$ (25,125,000)
January 2022 Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount								$ 500,000,000
July 2019 Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount								$ 500,000,000
September 2023 Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount							$ 500,000,000
Remaining amount under share repurchase program			$ 461,800,000		$ 461,800,000
Dongguan Churod Electronics Co., Ltd.
Equity, Class of Treasury Stock [Line Items]
Equity method investment, ownership percentage purchased		50%
Purchase of noncontrolling interest in joint venture		$ 79,400,000

Shareholders' Equity - Accumula

Shareholders' Equity - Accumulated Other Comprehensive Income Roll forward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,974,834	$ 3,193,492	$ 2,996,276	$ 3,110,807
Other comprehensive (loss)/income	(18,458)	8,910	(23,710)	12,110
Ending balance	3,011,552	3,209,772	3,011,552	3,209,772
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			17,513
Other comprehensive (loss)/income before reclassifications, net of tax			6,872
Reclassifications from accumulated other comprehensive (loss)/income, net of tax			(12,398)
Other comprehensive (loss)/income			(5,526)
Ending balance	11,987		11,987
Defined Benefit and Retiree Healthcare Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(28,499)
Other comprehensive (loss)/income before reclassifications, net of tax			0
Reclassifications from accumulated other comprehensive (loss)/income, net of tax			435
Other comprehensive (loss)/income			435
Ending balance	(28,064)		(28,064)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			20,948
Other comprehensive (loss)/income before reclassifications, net of tax			(18,619)
Reclassifications from accumulated other comprehensive (loss)/income, net of tax			0
Other comprehensive (loss)/income			(18,619)
Ending balance	2,329		2,329
Accumulated Other Comprehensive (Loss)/Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	4,710	(13,064)	9,962	(16,264)
Other comprehensive (loss)/income before reclassifications, net of tax			(11,747)
Reclassifications from accumulated other comprehensive (loss)/income, net of tax			(11,963)
Other comprehensive (loss)/income	(18,458)	8,910	(23,710)	12,110
Ending balance	$ (13,748)	$ (4,154)	$ (13,748)	$ (4,154)

Shareholders' Equity - Accumu_2

Shareholders' Equity - Accumulated Other Comprehensive (Loss) Income Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net revenue	$ (1,035,535)	$ (1,062,112)	$ (2,042,244)	$ (2,060,287)
Cost of revenue	724,414	732,108	1,413,674	1,402,579
Provision for income taxes	27,280	19,873	49,850	43,599
Other, net	(4,097)	10,924	7,447	9,532
Net income	(71,703)	(49,111)	(147,724)	(135,528)
(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	(9,247)	(8,797)	(16,709)	(17,133)
Provision for income taxes	2,386	2,269	4,311	4,420
Net income	(6,861)	(6,528)	(12,398)	(12,713)
(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	(762)	(4,394)	(870)	(11,033)
Cost of revenue	(8,485)	(4,403)	(15,839)	(6,100)
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Defined benefit and retiree healthcare plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision for income taxes	(63)	(87)	(132)	(231)
Other, net	271	311	567	848
Net income	$ 208	$ 224	$ 435	$ 617

Fair Value Measures - Schedule

Fair Value Measures - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 762,376	$ 169,077
Liabilities	7,295	9,791
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	738,456	138,749
Foreign currency forward contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	18,417	28,871
Derivative liabilities	6,895	8,996
Commodity forward contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	5,503	1,457
Derivative liabilities	$ 400	$ 795

Fair Value Measures - Narrative

Fair Value Measures - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill		$ 3,542,713	$ 3,542,770
Equity securities without readily determinable fair value		$ 6,300	$ 18,300
Carrying values of equity investments, observable price changes	$ 14,800
Sensing Solutions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill	$ 143,400

Fair Value Measures - Financial

Fair Value Measures - Financial Instruments Not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 06, 2024	Dec. 31, 2023
5.0% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, stated interest rate	5%	5%
4.375% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, stated interest rate	4.375%
3.75% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, stated interest rate	3.75%
4.0% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, stated interest rate	4%
5.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, stated interest rate	5.875%
6.625% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, stated interest rate	6.625%	6.625%
Level 2 | 5.0% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	$ 705,250		$ 694,750
Level 2 | 4.375% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	412,313		415,125
Level 2 | 3.75% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	648,750		656,250
Level 2 | 4.0% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	915,000		920,000
Level 2 | 5.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	487,500		495,000
Level 2 | 6.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	501,250		0
Level 2 | Carrying Value | 5.0% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	700,000		700,000
Level 2 | Carrying Value | 4.375% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	450,000		450,000
Level 2 | Carrying Value | 3.75% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	750,000		750,000
Level 2 | Carrying Value | 4.0% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	1,000,000		1,000,000
Level 2 | Carrying Value | 5.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	500,000		500,000
Level 2 | Carrying Value | 6.625% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	$ 500,000		$ 0

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details)	Jun. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign currency cash flow gain to be reclassified during next 12 months	$ 17,500,000
Termination value of outstanding derivatives in a liability position	7,400,000
Collateral already posted, aggregate fair value	$ 0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Derivative Instruments (Details) € in Millions, ₩ in Millions, ¥ in Millions, £ in Millions, RM in Millions, $ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 EUR (€) lb ozt	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 KRW (₩)	Jun. 30, 2024 MYR (RM)	Jun. 30, 2024 MXN ($)	Jun. 30, 2024 GBP (£)
Foreign currency forward contracts | Not designated | Euro ("EUR") to USD
Hedges of Foreign Currency Risk
Notional | €	€ 56.7
Weighted-Average Strike Rate	1.07	1.07	1.07	1.07	1.07	1.07	1.07
Foreign currency forward contracts | Not designated | USD to Chinese Renminbi ("CNY")
Hedges of Foreign Currency Risk
Notional | ¥		¥ 416
Weighted-Average Strike Rate	7.11	7.11	7.11	7.11	7.11	7.11	7.11
Foreign currency forward contracts | Not designated | USD to Malaysian Ringgit ("MYR")
Hedges of Foreign Currency Risk
Notional | RM					RM 23.6
Weighted-Average Strike Rate	4.69	4.69	4.69	4.69	4.69	4.69	4.69
Foreign currency forward contracts | Not designated | USD to Mexican Peso ("MXN")
Hedges of Foreign Currency Risk
Notional						$ 186
Weighted-Average Strike Rate	18.37	18.37	18.37	18.37	18.37	18.37	18.37
Foreign currency forward contracts | Not designated | British Pound Sterling ("GBP") to USD
Hedges of Foreign Currency Risk
Notional | £							£ 10.1
Weighted-Average Strike Rate	1.26	1.26	1.26	1.26	1.26	1.26	1.26
Foreign currency forward contracts | Cash flow hedge | Euro ("EUR") to USD
Hedges of Foreign Currency Risk
Notional | €	€ 399.5
Weighted-Average Strike Rate	1.11	1.11	1.11	1.11	1.11	1.11	1.11
Foreign currency forward contracts | Cash flow hedge | USD to CNY
Hedges of Foreign Currency Risk
Notional			$ 331.3
Weighted-Average Strike Rate	7.03	7.03	7.03	7.03	7.03	7.03	7.03
Foreign currency forward contracts | Cash flow hedge | USD to Korean Won ("KRW")
Hedges of Foreign Currency Risk
Notional | ₩				₩ 33,857.9
Weighted-Average Strike Rate	1,300.38	1,300.38	1,300.38	1,300.38	1,300.38	1,300.38	1,300.38
Foreign currency forward contracts | Cash flow hedge | USD to Mexican Peso ("MXN")
Hedges of Foreign Currency Risk
Notional						$ 4,342.7
Weighted-Average Strike Rate	19.18	19.18	19.18	19.18	19.18	19.18	19.18
Foreign currency forward contracts | Cash flow hedge | British Pound Sterling ("GBP") to USD
Hedges of Foreign Currency Risk
Notional | £							£ 72.1
Weighted-Average Strike Rate	1.25	1.25	1.25	1.25	1.25	1.25	1.25
Silver | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	26.13	26.13	26.13	26.13	26.13	26.13	26.13
Hedges of Commodity Risk
Notional | ozt	695,638
Copper | Not designated
Hedges of Foreign Currency Risk
Weighted-Average Strike Rate	4.02	4.02	4.02	4.02	4.02	4.02	4.02
Hedges of Commodity Risk
Notional | lb	5,983,236

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash flow hedge
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 18,413	$ 28,730
Liability Derivatives	6,507	8,552
Not designated
Derivatives, Fair Value [Line Items]
Asset Derivatives	5,507	1,598
Liability Derivatives	788	1,239
Foreign currency forward contracts | Cash flow hedge | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	15,501	25,176
Foreign currency forward contracts | Cash flow hedge | Other assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	2,912	3,554
Foreign currency forward contracts | Cash flow hedge | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	3,487	6,746
Foreign currency forward contracts | Cash flow hedge | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	3,020	1,806
Foreign currency forward contracts | Not designated | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	4	141
Foreign currency forward contracts | Not designated | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	388	444
Commodity forward contracts | Not designated | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	4,453	1,314
Commodity forward contracts | Not designated | Other assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	1,050	143
Commodity forward contracts | Not designated | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	161	719
Commodity forward contracts | Not designated | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 239	$ 76

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Income Statement Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Foreign currency forward contracts | Not designated
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in Net Income	$ (1,837)	$ 4,423	$ (1,157)	$ 4,607
Foreign currency forward contracts | Net revenue | Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive (Loss)/Income	5,675	4,872	16,640	1,284
Amount of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income	762	4,394	870	11,033
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 (Loss)/Income	(16,407)	15,631	(7,455)	31,339
Amount of Net Gain Reclassified from Accumulated Other Comprehensive (Loss)/Income into Net Income	8,485	4,403	15,839	6,100
Commodity forward contracts | Not designated
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in Net Income	$ 4,977	$ (6,269)	$ 6,076	$ (4,370)

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024 USD ($) segment	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 segment	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2	2	2
Goodwill | $		$ 3,542,713		$ 3,542,770
PS
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Sensing Solutions
Segment Reporting Information [Line Items]
Goodwill | $	$ 143,400

Segment Reporting - Schedules o

Segment Reporting - Schedules of Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net revenue	$ 1,035,535	$ 1,062,112	$ 2,042,244	$ 2,060,287
Operating income	129,947	118,013	274,739	266,855
Amortization of intangible assets	(39,085)	(54,563)	(77,600)	(95,337)
Restructuring and other charges, net	(3,491)	(21,259)	(4,273)	(27,258)
Interest expense	(40,863)	(45,759)	(79,258)	(94,550)
Interest income	5,802	7,654	9,540	16,354
Other, net	4,097	(10,924)	(7,447)	(9,532)
Income before taxes	98,983	68,984	197,574	179,127
Operating Segments
Segment Reporting Information [Line Items]
Net revenue	1,035,535	1,062,112	2,042,244	2,060,287
Operating income	266,076	275,299	530,468	533,355
Operating Segments | Performance Sensing
Segment Reporting Information [Line Items]
Net revenue	723,921	693,563	1,437,239	1,361,325
Operating income	177,033	180,407	362,165	349,473
Operating Segments | Sensing Solutions
Segment Reporting Information [Line Items]
Net revenue	268,071	331,060	525,910	614,510
Operating income	79,839	94,154	152,318	178,174
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net revenue	43,543	37,489	79,095	84,452
Operating income	9,204	738	15,985	5,708
Amortization of intangible assets	(39,085)	(54,563)	(77,600)	(95,337)
Restructuring and other charges, net	(3,491)	(21,259)	(4,273)	(27,258)
Corporate and other
Segment Reporting Information [Line Items]
Operating income	$ (93,553)	$ (81,464)	$ (173,856)	$ (143,905)

Subsequent Events (Details)

Subsequent Events (Details) - 5.0% Senior Notes - Senior Notes	Jul. 15, 2024	Jun. 30, 2024	Jun. 06, 2024
Subsequent Event [Line Items]
Debt, stated interest rate		5%	5%
Subsequent Event
Subsequent Event [Line Items]
Debt, stated interest rate	5%