Company: ST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477294-25-000067
Chunk: 83

Company: Sensata Technologies Holding plc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 83
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 adjustments are non-operating and are excluded from the non-GAAP adjustments to operating income.

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(c)    In the three months ended December 31, 2024, we discontinued the use of adjustments to exclude step-up depreciation in our non-GAAP measures and we adjusted operating income and net income to exclude the amortization of all our intangible assets. The three months ended March 31, 2024 have not been recast. If we had recast this non-GAAP measure for the three months ended March 31, 2024, adjusted operating income and adjusted net income would have increased by an additional $1.1 million.

The following table provides a reconciliation of net cash provided by operating activities in accordance with U.S. GAAP to free cash flow. 

For the three months ended March 31, (In millions)20252024Net cash provided by operating activities (GAAP)$119.2 $106.5 Additions to property, plant and equipment and capitalized software(32.6)(42.1)Free cash flow (non-GAAP)$86.6 $64.4 

The following table provides a reconciliation of corporate and other expenses in accordance with U.S. GAAP to adjusted corporate and other expenses. 

For the three months ended March 31, (In millions)20252024Corporate and other expenses (GAAP)$(69.2)$(64.0)Restructuring related and other15.8 2.2 Financing and other transaction costs1.0 3.6 Total adjustments16.8 5.8 Adjusted corporate and other expenses (non-GAAP)$(52.4)$(58.1)

The following table provides a reconciliation of net income in accordance with U.S. GAAP to adjusted EBITDA. 

For the three months ended March 31, (In millions)LTM20252024Net income$122.4 $69.9 $76.0 Interest expense, net138.6 33.7 34.7 (Benefit from)/provision for income taxes(142.2)20.7 22.6 Depreciation expense174.6 41.0 33.5 Amortization of intangible assets127.8 20.6 38.5 EBITDA421.2 185.9 205.3 Non-GAAP adjustmentsRestructuring related and other296.6