Company: ST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477294-25-000067
Chunk: 58

Company: Sensata Technologies Holding plc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 58
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 The severance liability as of March 31, 2025 and December 31, 2024 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets.

6. Other, Net 

The following table presents the components of other, net for the three months ended March 31, 2025 and 2024: For the three months ended March 31, 2025March 31, 2024Currency remeasurement (loss)/gain on net monetary assets$(459)$1,031 (Loss)/gain on foreign currency forward contracts(1,576)680 Gain on commodity forward contracts4,419 1,099 Gain/(loss) on equity investments, net (1)15 (13,287)Net periodic benefit cost, excluding service cost(527)(841)Other256 (226)Other, net$2,128 $(11,544)

10

___________________________________(1)    The three months ended March 31, 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 FASB ASC Topic 321, Investments—Equity Securities. Refer to Note 13: Fair Value Measures for additional information.

7. Income Taxes

The following table presents the provision for income taxes for the three months ended March 31, 2025 and 2024: For the three months ended March 31, 2025March 31, 2024Provision for income taxes$20,722 $22,570 

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 tax credits, and (c) changes in withholding taxes on unremitted earnings. 

8. Net Income per Share

Basic and diluted net income per share are calculated by dividing net income by the number of basic and diluted weighted-average ordinary shares outstanding during the period. For the three months ended March 31, 2025 and 2024 the weighted-average ordinary shares outstanding used to