Company: ST
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001477294-25-000022
Chunk: 118

Company: Sensata Technologies Holding plc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 118
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$2,917.1 $3,047.9 Adjusted EBITDA (LTM)$881.6 $906.6 $903.9 Net leverage ratio3.03.23.4

50

Liquidity and Capital Resources

As of December 31, 2024 and 2023, we held cash and cash equivalents in the following regions (amounts have been calculated based on unrounded numbers, accordingly, certain amounts may not appear to recalculate due to the effect of rounding):

As of December 31,(In millions)20242023United Kingdom$4.4 $12.6 United States6.9 12.9 The Netherlands256.3 158.2 China272.2 250.8 Other53.9 73.6 Total cash and cash equivalents$593.7 $508.1 

The amount of cash and cash equivalents held in these geographic regions fluctuates throughout the year due to a variety of factors, such as our use of intercompany loans and dividends and the timing of cash receipts and disbursements in the normal course of business. Our earnings are not considered to be permanently reinvested in certain jurisdictions in which they were earned. We recognize a deferred tax liability on these unremitted earnings to the extent the remittance of such earnings cannot be recovered in a tax-free manner.

In certain jurisdictions, our cash balances are subject to withholding taxes immediately upon withdrawal of funds to a different jurisdiction. In addition, in order to take advantage of incentive programs offered by various jurisdictions, including tax incentives, we are required to maintain minimum cash balances in these jurisdictions. The transfer of cash from these jurisdictions could result in loss of incentives or higher cash tax expense, but those impacts are not expected to be material.

Our cash and cash equivalent balances as of December 31, 2024 and 2023 were held in the following significant currencies:

As of December 31, 2024(In millions)USDEURGBPCNYOtherUnited Kingdom$0.1 €0.0 £3.1 ¥— United States6.9 0.0 0.0 — The Netherlands247.8 7.4 0.5 — China73.1 — — 1,453.6 Other41.3 2.3 — — Total$369.2 €9.7 £3.6