Company: ST
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001477294-25-000131
Chunk: 96

Company: Sensata Technologies Holding plc
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 8
Chunk 96
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 PlanIn the year ended December 31, 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 

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commenced to adjust our cost structure and business activities.The reductions-in-force, which are subject to the laws and regulations of the countries in which the actions were executed or planned, impacted 505 positions. Over the life of the Q3 2023 Plan, we expect to incur restructuring charges of between $27.8 million and $28.3 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 December 31, 2025. We expect to settle these charges with cash on hand.Spear Power SystemsIn September 2024, we made the decision to exit the aerospace and defense business (the "Spear Aerospace Business") of Spear Power Systems (“Spear”). We entered into an agreement wherein a third party assumed control of a majority of the remaining Spear assets that closed in October 2024. The Spear Aerospace Businesses had been included in the Sensing Solutions reportable segment. Exiting Spear resulted in charges in the three and nine months ended September 30, 2024 of $25.6 million and $24.7 million, respectively.SummaryThe following table presents the components of restructuring and other charges, net for the three and nine months ended September 30, 2025, and 2024:For the three months endedFor the nine months endedSeptember 30, 2025September 30, 2024September 30, 2025September 30, 20242H 2024 Plan, net $1,118 $— $4,879 $— Q3 2023 Plan, net1,098 13 3,900 308 Other restructuring and other charges, netSeverance charges, net 471 3,224 1,653 5,679 Loss on sale of business and related costs (1) 11,489 112,854 16,398 112,854 Acquisition-related compensation arrangements (2)— 118 — 2,028 Facility and other charge (3)3,990 24,415 4,928 24,028 Restruct