Company: ST
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001477294-25-000022
Chunk: 102

Company: Sensata Technologies Holding plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 102
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 was primarily due to content growth, partially offset by unfavorable market conditions.

HVOR end market net revenue for the year ended December 31, 2024 decreased 2.7% compared to the prior year. Excluding a decrease of 0.6% attributed to changes in foreign currency exchange rates, HVOR end market net revenue decreased 2.1% on an organic basis. This organic revenue decline was primarily due to market decline, partially offset by content growth.

Sensing Solutions

Sensing Solutions net revenue for the year ended December 31, 2024 decreased 8.2% compared to the prior year. Excluding a decrease of 0.3% attributed to changes in foreign currency exchange rates, Sensing Solutions net revenue decreased 7.9% on an organic basis, which primarily reflects weakness in our industrial content and inventory destocking, partially offset by market and content growth in the aerospace business.

41

Operating costs and expenses

Operating costs and expenses for the years ended December 31, 2024, 2023, and 2022 are presented, in millions of dollars and as a percentage of revenue, in the following table. Amounts and percentages in the table below have been calculated based on unrounded numbers, accordingly, certain amounts may not appear to recalculate due to the effect of rounding.

 For the year ended December 31, 202420232022AmountPercent ofNet RevenueAmountPercent ofNet RevenueAmountPercent ofNet RevenueOperating costs and expenses:Cost of revenue$2,776.9 70.6 %$2,792.8 68.9 %$2,712.0 67.3 %Research and development169.3 4.3 178.9 4.4 189.3 4.7 Selling, general and administrative392.2 10.0 350.7 8.6 370.6 9.2 Amortization of intangible assets145.7 3.7 173.9 4.3 153.8 3.8 Goodwill impairment charge150.1 3.8 321.7 7.9 — — Restructuring and other charges, net149.2 3.8 54.5 1.3 (66.7)(1.7)Total operating costs and expenses$3,783.5 96.2