Company: ST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477294-25-000067
Chunk: 9

Company: Sensata Technologies Holding plc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 9
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 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 calculate basic and diluted net income per share were as follows: For the three months endedMarch 31, 2025March 31, 2024Basic weighted-average ordinary shares outstanding148,498 150,480 Dilutive effect of unvested restricted securities318 441 Diluted weighted-average ordinary shares outstanding148,816 150,921 Net income and net income per share are presented in the condensed consolidated statements of operations.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 endedMarch 31, 2025March 31, 2024Anti-dilutive shares excluded1,137 1,763 Contingently issuable shares excluded694 1,060 

9. Inventories

The following table presents the components of inventories as of March 31, 2025 and December 31, 2024:March 31,2025December 31,2024Finished goods$202,396 $