UNITED STATES SECURITIES AND
    EXCHANGE COMMISSIONWashington, D.C.
    20549
      Form 10-K
  þ

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)  OF THE
    SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended
    June 30, 2009ORo

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to         MOLEX INCORPORATED
 (Exact name of registrant as
    specified in its charter)
  Delaware


36-2369491(State or other jurisdiction of
    incorporation or organization)


(I.R.S. Employer
    Identification No.
)   2222 Wellington Court, Lisle, Illinois 60532
 (Address of principal executive
    offices)
  (630) 969-4550
      SECURITIES
    REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT
  Title of Each Class

Name of Each Exchange on Which RegisteredCommon Stock, par value $0.05

The Nasdaq Stock Market, Inc.Class A Common Stock, par value $0.05

The Nasdaq Stock Market, Inc.   SECURITIES
    REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
    None
      þ o
  o þ
  þ o
  Regulation S-T o o
  Regulation S-K Form 10-K Form 10-K. þ
  Rule 12b-2
  Large accelerated
    filer þ

Accelerated
    filer o

Non-accelerated
    filer o
    (Do not check if a smaller reporting company)

Smaller reporting company
    o   Rule 12b-2 o þ
      Common Stock


95,560,076Class A Common Stock


77,751,195Class B Common Stock


94,255   DOCUMENTS
    INCORPORATED BY REFERENCE
  Form 10-K.




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##### 





TABLE OF
    CONTENTS
  PagePART IItem 1.


Business


3Item 1A.


Risk Factors


12Item 1B.


Unresolved Staff Comments


20Item 2.


Properties


20Item 3.


Legal Proceedings


20Item 4.


Submission of Matters to a Vote of Security Holders


20PART IIItem 5.


Market for the Registrants Common Equity, Related
    Stockholder Matters and Issuer Purchases of Equity Securities


20Item 6.


Selected Financial Data


23Item 7.


Managements Discussion and Analysis of Financial Condition
    and Results of Operations


24Item 7A.


Quantitative and Qualitative Disclosures About Market Risk


42Item 8.


Financial Statements and Supplementary Data


44Item 9.


Changes in and Disagreements with Accountants on Accounting
    Financial Disclosure


79Item 9A.


Controls and Procedures


79Item 9B.


Other Information


80PART IIIItem 10.


Directors, Executive Officers and Corporate Governance


80Item 11.


Executive Compensation


81Item 12.


Security Ownership of Certain Beneficial Owners and Management
    and Related Stockholder Matters


81Item 13.


Certain Relationships and Related Transactions, and Director
    Independence


81Item 14.


Principal Accountant Fees and Services


81PART IVItem 15.


Exhibits and Financial Statement Schedules


82Schedule II  Valuation and Qualifying Accounts


83Index to Exhibits


84Signatures


86   Molex Web
    Site
  Form 10-K, Form 10-Q, Form 8-K
    Form 10-K.
 2




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##### 



PART I  Item 1.
    Business        The Connector
    Industry
    25-30 year
    
    Globalization.  Synergistic opportunities exist
    for the industry to design, manufacture and sell electronic
    products in different countries around the world in an efficient
    and seamless process. For example, electronic products may be
    designed in Japan, manufactured in China, and sold in the United
    States.
    Convergence of markets.  Traditionally separate
    markets such as consumer electronics, data products and
    telecommunications are converging, resulting in single devices
    offering broad-based functionality.
    Increasing electronics content.  Consumer
    demand for advanced product features, convenience and
    connectivity is driving connector growth at rates faster than
    the growth rates of the underlying electronics markets.
    Product size reduction.  High-density,
    micro-miniature technologies are expanding to markets such as
    data and mobile phones, leading to smaller devices and greater
    mobility.
    Consolidating supply base.  Generally, global
    OEMs are consolidating their supply chain by selecting global
    companies possessing broad product lines for the majority of
    their connector requirements and a strong financial position.
    Price erosion.  As unit volumes grow,
    production experience is accumulated and costs decrease, and as
    a result, prices decline. 3




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##### 



Markets and
    Products
    Percentage of Fiscal 2009



Primary End Use ProductsMarkets


Net Revenue



Supported by MolexTelecommunications



26
%


Mobile phones and devices, networking equipment, switches and
    transmission equipmentData Products



21
%


Desktop and notebook computers, peripheral equipment, servers,
    storage, copiers, printers and scannersConsumer



21
%


Digital electronics, CD and DVD players, cameras, flat panel
    display, plasma and LCD televisions, electronic games and major
    appliancesIndustrial



15
%


Factory automation, robotics, automated test equipment, vision
    systems and diagnostic equipmentAutomotive



14
%


Engine control units, body electronics, safety electronics,
    sensors, panel instrumentation and other automotive electronicsOther



3
%


Electronic and electrical devices for a variety of markets   Telecommunications.
  TM
  Data Products.
     4




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##### 



Consumer.
    TM on-site
  Industrial.
      Automotive.
    Other.
 5




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##### 



Business
    Objectives and Strategies
      
    Broad and deep technological knowledge of microelectronic
    devices and techniques, power sources, coatings and materials;
    Strong intellectual property portfolio that underlies many key
    products;
    High product quality standards, backed with stringent systems
    designed to ensure consistent performance, that meet or surpass
    customers expectations;
    Strong technical collaboration with customers;
    Extensive experience with the product development process;
    Broad geographical presence in developed and developing markets;
    Continuous effort to develop an efficient, low-cost
    manufacturing footprint; and
    A broad range of products both for specific applications and for
    general consumption.    
    Concentrate on core markets.  We focus on
    markets where we have the expertise, qualifications and
    leadership position to sustain a competitive advantage. We have
    been an established supplier of interconnect solutions for over
    70 years. We are a principal supplier of connector
    components to the telecommunications, computer, consumer,
    automotive and industrial electronics markets.
    Grow through the development and release of new
    products.  We invest strategically in the tools
    and resources to develop and market new products and to expand
    existing product lines. New products are essential to enable our
    customers to advance their solutions and their market leadership
    positions. In fiscal 2009, we generated approximately 22% of our
    revenue from new products, which are defined as those products
    released in the last 36 months.
    Optimize manufacturing and supply chain.  We
    analyze the design and manufacturing patterns of our customers
    along with our own supply chain economics to help ensure that
    our manufacturing operations are of sufficient scale and are
    located strategically to minimize production costs and maximize
    customer service.
    Leverage financial strength.  We use our
    expected cash flow from operations and strong balance sheet to
    invest aggressively in new product development, to pursue
    synergistic acquisitions, to align manufacturing capacity with
    customer requirements and to pursue productivity improvements.
    We invested approximately 13% of net revenue in capital
    expenditures and research and development activities in fiscal
    2009.   6




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##### 



Competition
      Customers, Demand
    Creation and Sales Channels
        
    54% of net revenue originated in Asia-Pacific (China, including
    Hong Kong and Taiwan, Indonesia, India, Malaysia, Philippines,
    Singapore, Korea, Japan and Thailand). Approximately 24% and 17%
    of net revenue in fiscal 2009 was derived from operations in
    China and Japan, respectively.
    27% of net revenue originated in the Americas.
    19% of net revenue originated in Europe.         7




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##### 



Research and
    Development
          Manufacturing
        Raw
    Materials
   8




---



##### 



Backlog and
    Seasonality
      Employees
    Acquisitions and
    Investments
    Intellectual
    Property
    Environmental
    Matters
   9




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##### 



10




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##### 



Executive
    Officers
    Positions Held with Registrant




YearName

During the Last Five Years

Age


EmployedFrederick A. Krehbiel(a)

Co-Chairman (1999-); Chief Executive Officer (2004-2005);
    Co-Chief Executive Officer (1999-2001).


68



1965
(b)John H. Krehbiel, Jr.(a)

Co-Chairman (1999-); Co-Chief Executive Officer (1999-2001).


72



1959
(b)Martin P. Slark

Vice-Chairman and Chief Executive Officer (2005-); 54 1976
    President and Chief Operating Officer (2001-2005).Liam McCarthy

President and Chief Operating Officer (2005-); Vice President of
    Operations, Europe (2000-2005).


53



1976David D. Johnson

Executive Vice President, Treasurer and Chief Financial Officer
    (2005-); Vice President, Treasurer and Chief Financial Officer,
    Sypris Solutions, Inc. (1998-2005).


53



2005Graham C. Brock

Executive Vice President (2005-) and President, Global Sales
    & Marketing Division (2006-) and Regional President, Europe
    (2005); Regional Vice President  Sales &
    Marketing, Europe (2000-2005).


55



1976James E. Fleischhacker

Executive Vice President (2001-); President, Global Commercial
    Products Division (2009-); President, Global Transportation
    Products Division (2007-2009); and Corporate Vice President
    (1994-2001).


65



1984Katsumi Hirokawa

Executive Vice President (2005-) and President, Global Micro
    Products Division (2007-); Vice President and President,
    Asia-Pacific North (2005-2007); President (2002-); Executive
    Vice President  Sales (2002), Molex Japan Co. Ltd.


62



1995J. Michael Nauman

Executive Vice President and President, Global Integrated
    Products Division (2009-); Senior Vice President and President,
    Global Integrated Products Division (2007-2009); President,
    Integrated Products Division, Americas Region (2005-2007).


47



1994     (a)
    
    John H. Krehbiel, Jr. and Frederick A. Krehbiel (the
    Krehbiel Family) are brothers. The members of the Krehbiel
    Family may be considered to be control persons of
    the Registrant. The other executive officers listed above have
    no relationship, family or otherwise, to the Krehbiel Family,
    the Registrant or each other.(b)
    
    Includes period employed by our predecessor company. 11




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##### 



Code of Business
    Conduct and Ethics
      Item 1A.
    Risk
    Factors  Forward-looking
    Statements
  Form 10-K
    Risk
    Factors
    We may be
    adversely affected by a prolonged economic downturn or economic
    uncertainty.
   12




---



##### 



We may see a
    negative effect on our business due to disruptions in financial
    markets.
    We are dependent
    on the success of our customers.
    We are subject to
    continuing pressure to lower our prices.
    We face rising
    costs of commodity materials.
    We face intense
    competition in our markets.
  non-U.S. competitors
 13




---



##### 



We are dependent
    on new products.
      We face
    manufacturing challenges.
         14




---



##### 



We face industry
    consolidation.
    We depend on
    industries exposed to rapid technological change.
    We face the
    possibility that our gross margins may decline.
    We face risks
    associated with inventory.
    We may encounter
    problems associated with our global operations.
   15




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##### 




    International business conditions including the relationships
    between the U.S. and other governments;
    Unexpected changes in laws, regulations, trade, monetary or
    fiscal policy, including interest rates, foreign currency
    exchange rates and changes in the rate of inflation in the
    U.S. and other foreign countries;
    Tariffs, quotas, customs and other import or export restrictions
    and other trade barriers;
    Difficulties in staffing and management;
    Language and cultural barriers, including those related to
    employment regulation; and
    Potentially adverse tax consequences.  We are exposed to
    fluctuations in currency exchange rates.
  non-U.S. currency non-U.S. markets
    We may find that
    our products have quality issues.
   16




---



##### 




    lose revenue;
    incur increased costs such as warranty expense and costs
    associated with customer support;
    experience delays, cancellations or rescheduling of orders for
    our products;
    experience increased product returns or discounts; or
    damage our reputation.    If we fail to
    manage our growth effectively or to integrate successfully any
    future acquisition, our business could be harmed.
    
    Successfully identifying and completing transactions;
    Difficulty in integrating acquired operations, technology and
    products or realizing cost savings or other anticipated benefits
    from integration;
    Retaining customers and existing contracts;
    Retaining the key employees of the acquired operation;
    Potential disruption of our or the acquired companys
    ongoing business;
    Charges for impairment of long-term assets;
    Unanticipated expenses related to integration; and
    Potential unknown liabilities associated with the acquired
    company.    We face risks
    arising from reorganizations of our operations.
   17




---



##### 



We depend on our
    key employees and face competition in hiring and retaining
    qualified employees.
    We are subject to
    various laws and government regulations.
      We rely on our
    intellectual property rights.
     18




---



##### 



We could suffer
    significant business interruptions.
    A decline in the
    market value of our pension plans investment portfolios
    could adversely affect our results of operations, financial
    condition and cash flows.
    We may have
    exposure to income tax rate fluctuations and to additional tax
    liabilities, which could negatively affect our financial
    position.
    
    the effects of a mix of profits or losses earned by us and our
    subsidiaries in numerous foreign tax jurisdictions with a broad
    range of tax rates;
    our ability to use recorded deferred tax assets;
    changes in uncertain tax positions, interest or penalties
    resulting from tax audits; and
    changes in tax laws or the interpretation of these laws.        Our certificate
    of incorporation and bylaws include antitakeover provisions,
    which may deter or prevent a takeover attempt.
   19




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##### 



Item 1B.
    Unresolved
    Staff Comments    Item 2.
    Properties        
    Americas: United States and Mexico
    Asia-Pacific: Japan, Korea, Vietnam, Thailand, China, India,
    Malaysia, Singapore and Taiwan
    Europe: France, Germany, Italy, Poland, Slovakia and Ireland  Item 3.
    Legal
    Proceedings    Item 4.
    Submission
    of Matters to a Vote of Security Holders   PART II  Item 5.
    Market
    for the Registrants Common Equity, Related Stockholder
    Matters and Issuer Purchases of Equity Securities     20




---



##### 



2009


2008Low  High


Low  HighCommon Stock


1st


$
22.00


$
25.96


$
23.89


$
30.662nd



10.72



22.19



26.77



29.123rd



9.72



15.86



21.82



26.854th



14.00



17.08



23.97



29.95   2009


2008Low  High


Low  HighClass A Common Stock


1st


$
20.55


$
24.59


$
22.82


$
27.542nd



9.24



20.66



25.25



27.683rd



8.94



14.16



21.08



25.894th



12.88



15.65



22.11



27.50     2009


2008Quarter ended:September 30

$
0.1525


$
0.1125December 31


0.1525



0.1125March 31


0.1525



0.1125June 30


0.1525



0.1125Total

$
0.6100


$
0.4500   and/or and/or
  Total Number ofShares Purchased asTotal Number of


Average Price


Part of PubliclyShares Purchased*


Paid per Share


Announced PlanApril 1  April 30Common Stock





$




Class A Common Stock


19


$
12.71



May 1  May 31Common Stock





$




Class A Common Stock


51


$
15.60



June 1  June 30Common Stock





$




Class A Common Stock


2


$
14.58



Total


72


$
14.81



     *
    
    The shares purchased include exercises of employee stock options.   21




---



##### 



and/or
    Performance
    Graph
    Comparison of
    Five-Year Cumulative Total Return
    (Value of Investment of $100 on June 30, 2004)
    Among Molex Incorporated, the S&P 500 Index
    and a Peer Group
  
   06/30/04


06/30/05


06/30/06


06/30/07


06/30/08


06/30/09Molex Incorporated


$
100.00



$
81.61



$
106.02



$
95.67



$
79.19



$
52.41Molex Incorporated Class A



100.00




86.60




106.86




99.82




87.74




57.44S&P 500



100.00




106.32




115.50




139.28




121.01




89.29Peer Group



100.00




95.31




111.87




133.80




120.17




79.34    22




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##### 



Item 6.
    Selected
    Financial Data  Molex
    Incorporated
  Five-Year
    Financial Highlights Summary
 (In thousands,
    except per share data)
  2009


2008


2007


2006


2005Operations:Net revenue

$
2,581,841


$
3,328,347


$
3,265,874


$
2,861,289


$
2,554,458Gross profit


656,177



1,014,235



1,016,708



942,630



832,662Income (loss) from operations


(346,196
)


327,268



328,236



310,536



204,572Income (loss) before income taxes


(318,888
)


338,648



338,257



327,884



223,201Net (loss) income(1)


(321,287
)


215,437



240,768



236,091



150,116Earnings (loss) per share:Basic

$
(1.84
)

$
1.19


$
1.31


$
1.27


$
0.80Diluted


(1.84
)


1.19



1.30



1.26



0.79Net (loss) income percent of net revenue


(12.4
)%


6.5
%


7.4
%


8.3
%


5.9
%Capital expenditures

$
177,943


$
234,626


$
296,861


$
276,783


$
230,895Return on invested capital(2)


(12.4
)%


7.4
%


9.0
%


10.3
%


6.7
%Financial Position:Current assets

$
1,447,573


$
1,782,960


$
1,590,827


$
1,548,233


$
1,374,063Current liabilities


714,152



649,438



530,951



594,812



469,504Working capital(3)


733,421



1,133,522



1,059,876



953,421



904,559Current ratio(4)


2.0



2.7



3.0



2.6



2.9Property, plant and equipment, net

$
1,080,417


$
1,172,395


$
1,121,369


$
1,025,852


$
984,237Total assets


2,942,157



3,599,537



3,316,108



2,974,420



2,730,162Long-term debt


30,311



146,333



127,821



7,093



9,975Stockholders equity


2,062,564



2,676,846



2,523,031



2,281,869



2,170,754Dividends declared per share

$
0.61


$
0.45


$
0.30


$
0.225


$
0.15Average common shares outstanding:Basic


174,598



180,474



183,961



185,521



188,646Diluted


174,598



181,395



185,565



187,416



190,572     (1)
    
    Operating results include the following by year (in thousands):  2009


2008


2007


2006


2005After-tax restructuring costs and asset impairments

$
111,798


$
20,988


$
30,255


$
19,180


$
23,047Goodwill impairments


264,140















22,876     (2)
    Return on invested capital is defined as the current year net
    income (loss) divided by the sum of average total assets less
    average current liabilities for the year.(3)
    Working capital is defined as current assets minus current
    liabilities.(4)
    Current ratio is defined as current assets divided by current
    liabilities. 23




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##### 



Item 7.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations    Form 10-K.
  Overview
  Our
    Business
        Percentage of Net Revenue2009


2008


2007Telecommunication


26
%


25
%


25
%Data


21



20



20Consumer


21



20



20Industrial


15



16



18Automotive


14



17



16Other


3



2



1Total


100
%


100
%


100
%  24




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##### 



2009


2008


2007Americas


26.9
%


27.6
%


28.7
%Asia-Pacific


54.4



52.0



51.1Europe


18.7



20.4



20.2Total


100.0
%


100.0
%


100.0
%     2009


2008


2007Connector


69.3
%


71.4
%


72.2
%Custom & Electrical


30.6



28.3



27.3Corporate & Other


0.1



0.3



0.5Total


100.0
%


100.0
%


100.0
%       Business
    Environment
     25




---



##### 



Non-GAAP Financial
    Measures
      Financial
    Highlights
   26




---



##### 



Results of
    Operations
    Percentage of





Percentage of





Percentage of2009


Revenue


2008


Revenue


2007


RevenueNet revenue

$
2,581,841



100.0
%

$
3,328,347



100.0
%

$
3,265,874



100.0
%Cost of sales


1,925,664



74.6
%


2,314,112



69.5
%


2,249,166



68.9
%Gross profit


656,177



25.4
%


1,014,235



30.5
%


1,016,708



31.1
%Selling, general & administrative


586,702



22.7
%


665,038



20.0
%


658,289



20.1
%Restructuring costs and asset impairments


151,531



5.9
%


31,247



0.9
%


36,869



1.1
%Goodwill impairments


264,140



10.2
%






0.0
%






0.0
%Income (loss) from operations


(346,196
)


(13.4
)%


317,950



9.6
%


321,550



9.9
%Other income, net


27,308



1.0
%


20,698



0.6
%


16,707



0.5
%Income (loss) before income taxes


(318,888
)


(12.4
)%


338,648



10.2
%


338,257



10.4
%Income taxes


2,399



(0.0
)%


123,211



3.7
%


97,489



3.0
%Net (loss) income

$
(321,287
)


(12.4
)%

$
215,437



6.5
%

$
240,768



7.4
%   Net
    Revenue
    2009


2008Net revenue for prior year

$
3,328,347


$
3,265,874Components of net revenue (decrease) increase:Organic net revenue decline


(769,296
)


(106,863
)Currency translation


5,243



169,336Acquisitions


17,547



Total change in net revenue from prior year


(746,506
)


62,473Net revenue for current year

$
2,581,841


$
3,328,347Organic net revenue (decline) as a percentage of net revenue for
    prior year


(23.1
)%


(3.3
)%      27




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##### 



June 30, 2009


June 30, 2008Local


Currency


Net


Local


Currency


NetCurrency


Translation


Change


Currency


Translation


ChangeAmericas

$
(226,735
)

$
(2,627
)

$
(229,362
)

$
(23,304
)

$
3,637


$
(19,667
)Asia-Pacific


(354,081
)


27,594



(326,487
)


(26,974
)


89,405



62,431Europe


(177,647
)


(19,724
)


(197,371
)


(54,735
)


76,294



21,559Corporate & Other


6,714







6,714



(1,850
)






(1,850
)Net change

$
(751,749
)

$
5,243


$
(746,506
)

$
(106,863
)

$
169,336


$
62,473     2009


2008Americas


(24.7
)%


(2.5
)%Asia-Pacific


(20.5
)


(1.6
)Europe


(26.1
)


(8.3
)Total


(22.6
)%


(3.3
)%     2009


2008Telecommunications


(18
)%


3
%Consumer


(18
)


2Data


(18
)


4Industrial


(27
)


(7
)Automotive


(35
)


6        28




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##### 



Gross
    Profit
      2009


2008


2007Gross profit

$
656,177


$
1,014,235


$
1,016,708Gross margin


25.4
%


30.5
%


31.1
%       2009


2008


2007Average Price Copper (price per pound)

$
2.69


$
3.49


$
3.20Gold (price per troy ounce)


872.00



825.00



636.00    29




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##### 



2009


2008Price erosion

$
(97,643
)

$
(132,758
)Currency translation


4,590



48,842Currency transaction


(14,382
)


(18,393
)         Operating
    Expenses
    2009


2008


2007Selling, general & administrative

$
586,702


$
665,038


$
658,289Selling, general & administrative as a percentage of
    revenue


22.7
%


20.0
%


20.1
%Restructuring costs and asset impairments


151,531



31,247



36,869Goodwill impairments


264,140







   Selling,
    general & administrative expenses
   30




---



##### 



Restructuring
    costs and asset impairments
    2009


2008


2007


TotalSeverance costs

$
110,155


$
17,648


$
26,702


$
154,505Asset impairments


21,128



13,599



8,667



43,394Restructuring costs


131,283



31,247



35,369



197,899Intangible asset impairments


16,300











16,300Other charges


3,948







1,500



5,448Total restructuring charges and asset impairments

$
151,531


$
31,247


$
36,869


$
219,647            31




---



##### 



Goodwill
    Other Income
    (net)
    Effective Tax
    Rate
    2009


2008


2007Effective tax rate


(0.8
)%


36.4
%


28.8
%     Results by
    Product Segment
   32




---



##### 



Connector.
  2009


2008Net revenue for prior year

$
2,377,584


$
2,357,688Components of net revenue increase (decrease):Organic net revenue decline


(614,321
)


(104,637
)Currency translation


18,572



124,533Acquisitions


7,304



Total change in net revenue from prior year


(588,445
)


19,896Net revenue for current year

$
1,789,139


$
2,377,584Organic net revenue decline as a percentage of net revenue for
    prior year


(25.8
)%


(5.4
)%       2009


2008


2007Income (loss) from operations

$
(125,604
)

$
322,226


$
365,654Operating margin


(7.0
)%


17.1
%


19.4
%     Custom & Electrical.
  2009


2008Net revenue for prior year

$
941,365


$
892,756Components of net revenue increase:Organic net revenue (decline) growth


(147,648
)


4,455Currency translation


(13,359
)


44,154Acquisition


10,243



Total change in net revenue from prior year


(150,764
)


48,609Net revenue for current year

$
790,601


$
941,365Organic net revenue (decline) growth as a percentage of net
    revenue for prior year


(15.7
)%


0.5
%  33




---



##### 



2009


2008


2007Income (loss) from operations

$
(152,443
)

$
97,393


$
54,955Operating margin


(19.3
)%


10.3
%


6.2
%     Financial
    Condition and Liquidity
  non-U.S. accounts non-U.S. accounts
    Cash
    Flows
    2009


2008


2007Cash provided from operating activities

$
369,898


$
479,134


$
451,434Cash used for investing activities


(253,086
)


(218,156
)


(446,129
)Cash (used for) provided by financing activities


(155,582
)


(197,306
)


28,529Effect of exchange rate changes on cash


(12,030
)


33,474



11,712Net (decrease) increase in cash and cash equivalents

$
(50,800
)

$
97,146


$
45,546   Operating
    Activities
   34




---



##### 



Investing
    Activities
  U.S.-based
      Financing
    Activities
        Sources of
    Liquidity
   35




---



##### 



Contractual
    Obligations and Commercial Commitments
    Less Than


1-3


3-5


More ThanTotal


1 Year


Years


Years


5 YearsOperating lease obligations

$
33,648


$
12,367


$
14,294


$
3,722


$
3,265Capital lease obligations


3,108



2,060



1,046



2



Other long-term liabilities


14,512



3,520



1,335



239



9,418Debt obligations


238,946



208,635



30,279



32



Total(1)

$
290,214


$
226,582


$
46,954


$
3,995


$
12,683     (1)
    
    Total does not include contractual obligations recorded on the
    balance sheet as current liabilities or certain purchase
    obligations, as discussed below. Debt and capital lease
    obligations include interest payments.    agreed-upon
 36




---



##### 



Off-Balance Sheet
    Arrangements
      Critical
    Accounting Estimates
      Revenue
    Recognition
      Income
    Taxes
   37




---



##### 



non-U.S. net
  Inventory
  first-in,
  Pension
    Plans
   38




---



##### 



Increase (Decrease)


Increase (Decrease)in PBO


in Pension ExpenseU.S. Plan


Intl Plans


U.S. Plan


Intl PlansDiscount rate change:Increase 50 basis points

$
(4,024
)

$
(8,534
)

$
(279
)

$
(132
)Decrease 50 basis points


4,491



9,649



287



141Expected rate of return change:Increase 100 basis points


N/A



N/A



(600
)


(723
)Decrease 100 basis points


N/A



N/A



600



723   Other
    Postretirement Benefits
    Increase (Decrease)Total Annual Service


Increase (Decrease)and Interest Cost


in APBOIncrease 100 basis points:

$
708


$
4,882Decrease 100 basis points:


(588
)


(4,095
)   Stock
    Options
    Fair Value of
    Financial Assets and Liabilities
    Quoted Pricesin Active


SignificantTotal


Markets for


Other


SignificantMeasured


Identical


Observable


Unobservableat Fair


Assets


Inputs


InputsValue


(Level 1)


(Level 2)


(Level 3)Available for sale and trading securities

$
52,401


$
52,401


$



$
Derivative financial instruments, net


2,601







2,601



Total

$
55,002


$
52,401


$
2,601


$
  39




---



##### 



Goodwill
          Restructuring
    Costs and Asset Impairments
      Other-Than-Temporary
    Impairments (OTTI)
   40




---



##### 



Impairment of
    Long-Lived Assets
    New Accounting
    Pronouncements
      No. 157-2,
    (FAS 132R-1). FAS 132R-1
 41




---



##### 



FAS 132R-1
  Forward-looking
    Statements
  Form 10-K
    Item 7A.
    Quantitative
    and Qualitative Disclosures About Market Risk           42




---



##### 



43




---



##### 



Item 8.
    Financial
    Statements and Supplementary Data  Molex
    Incorporated
  Index to Consolidated Financial Statements
  PageConsolidated Balance Sheets


45Consolidated Statements of Operations


46Consolidated Statements of Cash Flows


47Consolidated Statements of Stockholders Equity


48Notes to Consolidated Financial Statements


49Report of Independent Registered Public Accounting Firm


77Report of Independent Registered Public Accounting Firm on
    Internal Control Over Financial Reporting


78  44




---



##### 



Molex
    Incorporated
  Consolidated
    Balance Sheets
   June 30,2009


2008ASSETSCurrent assets:Cash and cash equivalents

$
424,707


$
475,507Marketable securities


43,234



34,298Accounts receivable, less allowances of $32,593 in 2009 and
    $40,243 in 2008


528,907



740,827Inventories


354,337



458,295Deferred income taxes


27,939



23,444Prepaid expenses


68,449



50,589Total current assets


1,447,573



1,782,960Property, plant and equipment, net


1,080,417



1,172,395Goodwill


128,494



373,623Non-current deferred income taxes


89,332



62,521Other assets


196,341



208,038Total assets

$
2,942,157


$
3,599,537LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Short-term loans

$
224,340


$
66,687Accounts payable


266,633



350,413Accrued expenses:Salaries, commissions and bonuses


55,109



74,689Restructuring


69,928



19,842Other


93,392



64,683Income taxes payable


4,750



73,124Total current liabilities


714,152



649,438Other non-current liabilities


21,862



21,346Accrued pension and other postretirement benefits


113,268



105,574Long-term debt


30,311



146,333Total liabilities


879,593



922,691Commitments and contingenciesStockholders equity:Common Stock, $0.05 par value; 200,000 shares
    authorized; 112,204 shares issued at 2009 and
    112,195 shares issued at 2008


5,610



5,610Class A Common Stock, $0.05 par value;
    200,000 shares authorized; 110,468 shares issued at
    2009 and 109,841 shares issued at 2008


5,523



5,492Class B Common Stock, $0.05 par value; 146 shares
    authorized; 94 shares issued at 2009 and 2008


5



5Paid-in capital


601,459



569,046Retained earnings


2,355,991



2,785,099Treasury stock (Common Stock, 16,644 shares at 2009 and
    13,744 shares at 2008; Class A Common Stock,
    32,789 shares at 2009 and 30,948 shares at 2008), at
    cost


(1,089,322
)


(1,009,021
)Accumulated other comprehensive income


183,298



320,615Total stockholders equity


2,062,564



2,676,846Total liabilities and stockholders equity

$
2,942,157


$
3,599,537    45




---



##### 



Molex
    Incorporated
  Consolidated
    Statements of Operations
   Years Ended June 30,2009


2008


2007Net revenue

$
2,581,841


$
3,328,347


$
3,265,874Cost of sales


1,925,664



2,314,112



2,249,166Gross profit


656,177



1,014,235



1,016,708Selling, general and administrative


586,702



665,038



658,289Restructuring costs and asset impairments


151,531



31,247



36,869Goodwill impairments


264,140







Total operating expenses


1,002,373



696,285



695,158Income (loss) from operations


(346,196
)


317,950



321,550Interest income, net


1,961



9,192



8,582Other income (loss)


25,347



11,506



8,125Total other income, net


27,308



20,698



16,707Income (loss) before income taxes


(318,888
)


338,648



338,257Income taxes


2,399



123,211



97,489Net (loss) income

$
(321,287
)

$
215,437


$
240,768Earnings (loss) per share:Basic

$
(1.84
)

$
1.19


$
1.31Diluted

$
(1.84
)

$
1.19


$
1.30Average common shares outstanding:Basic


174,598



180,474



183,961Diluted


174,598



181,395



185,565    46




---



##### 



Molex
    Incorporated
  Consolidated
    Statements of Cash Flows
   Years Ended June 30,2009


2008


2007Operating activities:Net (loss) income

$
(321,287
)

$
215,437


$
240,768Add (deduct) non-cash items included in net income (loss):Depreciation and amortization


251,902



252,344



237,912Goodwill impairment


264,140







Asset write-downs included in restructuring costs


41,376



13,599



8,667(Gain) loss on investments


(143
)


111



(1,154
)Deferred income taxes


(26,606
)


31,096



20,998Loss on sale of property, plant and equipment


2,478



296



1,800Share-based compensation


26,508



24,249



27,524Other non-cash items


(8,124
)


(6,778
)


23,373Changes in assets and liabilities, excluding effects of foreign
    currency adjustments and acquisitions:Accounts receivable


201,080



478



27,913Inventories


95,529



(26,240
)


(16,514
)Accounts payable


(84,502
)


34,197



(57,479
)Other current assets and liabilities


(24,967
)


(45,798
)


(60,421
)Other assets and liabilities


(47,486
)


(13,857
)


(1,953
)Cash provided from operating activities


369,898



479,134



451,434Investing activities:Capital expenditures


(177,943
)


(234,626
)


(296,861
)Proceeds from sales of property, plant and equipment


9,574



14,978



9,946Proceeds from sales or maturities of marketable securities


29,549



811,724



4,856,301Purchases of marketable securities


(42,751
)


(764,966
)


(4,785,080
)Acquisitions, net of cash acquired


(74,789
)


(42,503
)


(238,072
)Other investing activities


3,274



(2,763
)


7,637Cash used for investing activities


(253,086
)


(218,156
)


(446,129
)Financing activities:Proceeds from revolving credit facility and short-term loans


245,000



139,590



44,000Payments on revolving credit facility


(295,000
)


(75,000
)


(44,000
)Proceeds from issuance of long-term debt


78,060







131,045Payments of long-term debt


(1,827
)


(1,948
)


(26,937
)Cash dividends paid


(99,640
)


(74,598
)


(55,176
)Exercise of stock options


1,692



16,732



15,416Excess tax benefits from share-based compensation


1,693



1,677



1,714Purchase of treasury stock


(76,342
)


(199,583
)


(34,889
)Other financing activities


(9,218
)


(4,176
)


(2,644
)Cash (used for) provided from financing activities


(155,582
)


(197,306
)


28,529Effect of exchange rate changes on cash


(12,030
)


33,474



11,712Net (decrease) increase in cash and cash equivalents


(50,800
)


97,146



45,546Cash and cash equivalents, beginning of year


475,507



378,361



332,815Cash and cash equivalents, end of year

$
424,707


$
475,507


$
378,361Supplemental cash flow information:Interest paid

$
5,487


$
3,599


$
2,857Income taxes paid

$
83,904


$
64,641


$
96,531    47




---



##### 



Molex
    Incorporated
  Consolidated
    Statements of Stockholders Equity
   Years Ended June 30,2009


2008


2007Common stock

$
11,138


$
11,107


$
11,020Paid-in capital:Beginning balance

$
569,046


$
520,037


$
442,586Stock-based compensation


26,508



24,249



27,524Exercise of stock options


4,183



22,738



37,101Issuance of stock awards


1,586



1,743



2,059Reclass of directors deferred compensation plan










6,059Other


136



279



4,708Ending balance

$
601,459


$
569,046


$
520,037Retained earnings:Beginning balance

$
2,785,099


$
2,650,470


$
2,464,889Net (loss) income


(321,287
)


215,437



240,768Dividends


(106,110
)


(80,756
)


(55,205
)Other


(1,711
)


(52
)


18Ending balance

$
2,355,991


$
2,785,099


$
2,650,470Treasury stock:Beginning balance

$
(1,009,021
)

$
(799,894
)

$
(743,219
)Purchase of treasury stock


(76,342
)


(199,583
)


(34,889
)Exercise of stock options


(3,959
)


(9,544
)


(21,801
)Other










15Ending balance

$
(1,089,322
)

$
(1,009,021
)

$
(799,894
)Accumulated other comprehensive income, net of tax:Beginning balance

$
320,615


$
141,398


$
106,713Translation adjustments


(115,029
)


165,706



51,009Pension adjustments, net of tax


(22,137
)


3,309



(3,135
)Adjustment for initially applying SFAS No. 158, net of
    tax










(17,965
)Unrealized investment gain (loss), net of tax


(151
)


10,202



4,776Ending balance

$
183,298


$
320,615


$
141,398Total stockholders equity

$
2,062,564


$
2,676,846


$
2,523,031Comprehensive (loss) income, net of tax:Net (loss) income

$
(321,287
)

$
215,437


$
240,768Translation adjustments


(101,945
)


165,706



51,009Pension adjustments, net of tax


(35,221
)


3,309



(3,135
)Unrealized investment gain, net of tax


(151
)


10,202



4,776Total comprehensive (loss) income, net of tax

$
(458,604
)

$
394,654


$
293,418    48




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial Statements
  1.
    Organization and
    Basis of Presentation    2.
    Summary of
    Significant Accounting Policies  Principles of
    Consolidation
    Use of
    Estimates
    Currency
    Translation
    Cash and Cash
    Equivalents
    Marketable
    Securities
  non-U.S. local
    Accounts
    Receivable
   49




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Inventories
  first-in,
  Property, Plant
    and Equipment
      Buildings


25  40 yearsMachinery and equipment


3  10 yearsMolds and dies


2  4 years     Goodwill
      Other-Than-Temporary
    Impairments (OTTI)
   50




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Pension and Other
    Postretirement Plan Benefits
    Revenue
    Recognition
               51




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  Research and
    Development
    Income
    Taxes
    Derivative
    Instruments and Hedging Activities
    Stock-Based
    Compensation
    Accounting
    Changes
  Uncertainty in
    Income Taxes
    Pension and
    Postretirement Medical Benefit Plans
   52




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  New Accounting
    Pronouncements
  Business
    Combinations
    Noncontrolling
    Interests
    Fair
    Value
  No. 157-2,
  Derivative
    Instruments
    Pension and
    Postretirement Medical Benefit Plans
  (FAS 132R-1). FAS No. 132R-1 FAS No. 132R-1
 53




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  3.
    Earnings Per
    Share    2009


2008


2007Net (loss) income

$
(321,287
)

$
215,437


$
240,768Basic average common shares outstanding


174,598



180,474



183,961Effect of dilutive stock options






921



1,604Diluted average common shares outstanding


174,598



181,395



185,565Earnings (loss) per share:Basic

$
(1.84
)

$
1.19


$
1.31Diluted

$
(1.84
)

$
1.19


$
1.30     4.
    Acquisitions    U.S.-based
   54




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Current assets

$
95,724Land and depreciable assets


47,946Goodwill


177,093Intangible assets


39,000Assets acquired


359,763Liabilities assumed


100,109Restructuring (see Note 5)


3,999Non-current deferred tax liabilities, net


17,583Total purchase price

$
238,072     Net revenue

$
3,084,000Income from operations


325,000Net income


246,000Net income per common share  basic


1.33Net income per common share  diluted


1.31     5.
    Restructuring
    Costs and Asset Impairments    2009


2008


2007


TotalSeverance costs

$
110,155


$
17,648


$
26,702


$
154,505Asset impairments


21,128



13,599



8,667



43,394Restructuring costs


131,283



31,247



35,369



197,899Intangible asset impairments


16,300











16,300Other charges


3,948







1,500



5,448Total restructuring charges and asset impairments

$
151,531


$
31,247


$
36,869


$
219,647   Molex
    Restructuring Plans
   55




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
           56




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    2009


2008


2007Connector:Severance costs

$
73,658


$
3,154


$
6,674Asset impairments


18,468



11,380



2,732Other


1,750







Total

$
93,876


$
14,534


$
9,406Custom & Electrical:Severance costs

$
22,483


$
3,144


$
8,721Asset impairments


529



193



3,485Other


16,300







Total

$
39,312


$
3,337


$
12,206Corporate and Other:Severance costs

$
14,014


$
11,350


$
11,307Asset impairments


2,131



2,026



2,450Other


2,198







1,500Total

$
18,343


$
13,376


$
15,257Total:Severance costs

$
110,155


$
17,648


$
26,702Asset impairments


21,128



13,599



8,667Other


20,248







1,500Total

$
151,531


$
31,247


$
36,869   Woodhead
    Restructuring Plan
     57




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Restructuring PlansMolex


Woodhead


TotalBalance at June 30, 2006

$
15,941


$



$
15,941Charges to expense


26,702







26,702Purchase accounting allocation






3,999



3,999Cash payments


(11,788
)


(30
)


(11,818
)Non-cash related costs


(2,659
)






(2,659
)Balance at June 30, 2007

$
28,196


$
3,969


$
32,165Charges to expense


20,711



655



21,366Cash payments


(31,481
)


(3,498
)


(34,979
)Non-cash related costs


1,368



(78
)


1,290Balance at June 30, 2008

$
18,794


$
1,048


$
19,842Charges to expense


110,155







110,155Cash payments


(55,168
)


(535
)


(55,703
)Non-cash related costs


(3,897
)


(469
)


(4,366
)Balance at June 30, 2009

$
69,884


$
44


$
69,928   6.
    Inventories    2009


2008Raw materials

$
58,720


$
81,407Work in progress


113,782



144,683Finished goods


181,835



232,205Total inventories

$
354,337


$
458,295   7.
    Property, Plant
    and Equipment    2009


2008Land and improvements

$
68,262


$
69,104Buildings and leasehold improvements


692,108



663,524Machinery and equipment


1,625,312



1,641,110Molds and dies


761,748



754,589Construction in progress


67,249



115,763Total


3,214,679



3,244,090Accumulated depreciation


(2,134,262
)


(2,071,695
)Net property, plant and equipment

$
1,080,417


$
1,172,395    58




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  8.
    Goodwill    2009


2008Beginning balance

$
373,623


$
334,791Additions


28,605



29,147Impairment


(264,140
)


Foreign currency translation


(9,594
)


9,685Ending balance

$
128,494


$
373,623     U.S.-based
        9.
    Other Intangible
    Assets   59




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    June 30, 2009


June 30, 2008Gross





Net


Gross





NetCarrying


Accumulated


Carrying


Carrying


Accumulated


CarryingAmount


Amortization


Amount


Amount


Amortization


AmountCustomer-related

$
31,191


$
(4,567
)

$
26,624


$
24,546


$
(3,120
)

$
21,426Technology-based


21,403



(9,404
)


11,999



19,192



(5,431
)


13,761License fees


7,660



(4,467
)


3,193



9,561



(5,144
)


4,417Total

$
60,254


$
(18,438
)

$
41,816


$
53,299


$
(13,695
)

$
39,604       Year Ended June 30,2009


2008Weighted





WeightedCarrying


Average


Carrying


AverageAmount


Life


Amount


LifeCustomer-related

$
8,600



14 years


$
5,900



20 yearsTechnology-based


400



5 years



5,800



10 yearsLicense fees


150



5 years



4,390



5 yearsTrade names






Indefinite



1,900



IndefiniteTotal

$
9,150






$
17,990     Amount2010

$
5,8922011


4,7172012


4,6902013


3,4612014 and thereafter


23,056Total

$
41,816   10.
    Income
    Taxes    2009


2008


2007United States

$
(215,328
)

$
133,969


$
86,229International


(103,560
)


204,679



252,028Income (loss) before income taxes

$
(318,888
)

$
338,648


$
338,257  60




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    2009


2008


2007Current:U.S. Federal

$
5,613


$
26,211


$
5,406State


1,122



2,803



318International


22,270



63,101



70,767Total currently payable

$
29,005


$
92,115


$
76,491Deferred:U.S. Federal

$
(3,653
)

$
42,183


$
12,579State


759



(89
)


370International


(23,712
)


(10,998
)


8,049Total deferred


(26,606
)


31,096



20,998Total income tax expense

$
2,399


$
123,211


$
97,489     2009


2008


2007U.S. Federal income tax rate


35.0
%


35.0
%


35.0
%Permanent tax exemptions


0.8



(1.3
)


(1.6
)Repatriation of foreign earnings


(1.4
)


(0.5
)


(4.5
)Tax examinations and settlements






(0.2
)


(1.4
)Provision for tax contingencies


(2.5
)


1.0



Valuation allowance


(8.3
)


(0.3
)


0.4Goodwill impairment


(30.1
)






State income taxes, net of Federal tax benefit


(0.2
)


0.8



0.4Foreign tax rates less than U.S. Federal rate (net)


4.3



(4.4
)


(0.8
)Adjustments to foreign tax credits






5.1



Other


1.6



1.2



1.3Effective tax rate


(0.8
)%


36.4
%


28.8
%     non-U.S. net non-U.S. net
  non-U.S. net
 61




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    2009


2008Deferred tax assets:Pension and other postretirement liabilities

$
44,518


$
40,339Stock option and other benefits


23,215



24,968Capitalized research and development


12,730



16,602Foreign Tax Credits


3,086



Net operating losses


93,672



38,931Depreciation and amortization


2,887



2,812Inventory


13,970



15,134Allowance for doubtful accounts


7,346



8,683Patents


6,070



5,873Severance


6,793



3,983Other, net


13,793



4,261Total deferred tax assets before valuation allowance


228,080



161,586Valuation allowance


(77,399
)


(38,289
)Total deferred tax assets


150,681



123,297Deferred tax liabilities:Investments


(27,877
)


(25,465
)Depreciation and amortization


(5,533
)


(11,867
)Total deferred tax liabilities


(33,410
)


(37,332
)Total net deferred tax assets

$
117,271


$
85,965     2009


2008Net deferred taxes:Current asset

$
27,939


$
23,444Non-current asset


89,332



62,521Total

$
117,271


$
85,965   non-U.S. subsidiaries
   62




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    2009June 30


July 1Unrecognized tax benefits

$
23,509


$
14,559Portion that, if recognized, would reduce tax expense and
    effective tax rate


23,509



14,559     2008Balance as of July 1, 2008

$
14,559Additions based on tax positions related to the current year


10,327Additions for tax positions of prior years


4,783Reductions for tax positions of prior years


(5,356
)Reductions due to lapse of applicable statute of limitations


(804
)Balance at June 30, 2009

$
23,509       11.
    Profit Sharing,
    Pension and Post Retirement Medical Benefit Plans  Profit Sharing
    Plans
    Pension
    Plans
  and/or non-U.S. subsidiaries. Non-U.S. plans
  Post Retirement
    Medical Benefit Plans
   63




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Benefit
    Obligation and Plan Assets
    U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Accumulated benefit obligation

$
49,758


$
47,609


$
101,084


$
99,677


$
36,781


$
46,779     U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Change in projected benefit obligation:Beginning benefit obligation

$
52,980


$
60,401


$
115,436


$
107,097


$
46,779


$
50,756Service cost


2,404



3,380



5,872



5,783



1,741



2,923Interest cost


3,612



3,683



4,319



4,222



2,883



3,106Plan participants contributions










207



293



831



584Actuarial loss/(gain)


(2,506
)


(9,804
)


8,834



(7,120
)


(2,970
)


(8,564
)Plan amendment


















(11,958
)


Special termination benefits


















321



Divestitures






















Retained Earnings Adjustment






















Actual expenses










(86
)










Effect of curtailment/settlement


(1,940
)


(2,336
)


(13,219
)


(3,211
)






Business combination






















Impact of Measurement Date Change


1,504















1,407



Benefits paid to plan participants


(1,554
)


(2,344
)


(2,653
)


(6,182
)


(2,253
)


(2,026
)Changes in foreign currency










(1,929
)


14,554







Ending projected benefit obligation

$
54,500


$
52,980


$
116,781


$
115,436


$
36,781


$
46,779   64




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Change in plan assets:Beginning fair value of plan assets

$
58,840


$
57,311


$
66,463


$
61,019


$



$
Actual return on plan assets


(11,707
)


623



(14,069
)


(9,505
)






Employer contributions


4,472



3,250



14,388



12,340



1,422



1,573Settlements


(1,486
)






(12,776
)










Contributions to fund termination benefits






















Divestitures






















Actual expenses










(86
)










Plan participants contributions










207



293



831



584Business combination






















Benefits paid to plan participants


(1,554
)


(2,344
)


(2,653
)


(6,182
)


(2,253
)


(2,157
)Changes in foreign currency










(4,897
)


8,498







Ending fair value of plan assets

$
48,565


$
58,840


$
46,577


$
66,463


$



$
     U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Funded Status

$
(5,935
)

$
5,860


$
(70,204
)

$
(48,973
)

$
(36,781
)

$
(46,779
)     U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Prepaid expenses

$



$
7,275


$



$
8,406


$



$
Accrued pension and other post retirement benefits


(5,935
)


(1,415
)


(70,204
)


(57,379
)


(36,781
)


(46,779
)Accumulated other comprehensive income


12,894



(1,426
)


41,932



20,160



(2,672
)


7,695Net amount recognized

$
6,959


$
4,434


$
(28,272
)

$
(28,813
)

$
(39,453
)

$
(39,084
)     U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Net transition liability

$



$



$
167


$
224


$



$
Net actuarial (gain) loss


12,880



(1,447
)


39,215



16,967



9,804



13,750Net prior service costs


14



21



2,550



2,969



(12,476
)


(6,055
)Defined benefit plans, net

$
12,894


$
(1,426
)

$
41,932


$
20,160


$
(2,672
)

$
7,695  65




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Assumptions
    Non-U.S.U.S. Pension


Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Discount rate


7.0
%


6.9
%


3.8
%


4.0
%


6.9
%


6.9
%Rate of compensation increase


3.5
%


3.7
%


3.4
%


3.4
%






Health care cost trend


















9.0
%


10.0
%Ultimate health care cost trend


















5.0
%


5.0
%Years of ultimate rate


















2017



2013     2009


2008


2007Effect on total service and interest cost:Increase 100 basis points

$
708


$
1,219


$
1,287Decrease 100 basis points


(588
)


(968
)


(1,014
)Effect on benefit obligation:Increase 100 basis points

$
4,882


$
7,987


$
9,057Decrease 100 basis points


(4,095
)


(6,452
)


(7,270
)     U.S. Pension


Non-U.S. Pension


PostretirementBenefits


Benefits


Medical Benefits2009


2008


2009


2008


2009


2008Discount rate


6.9
%


6.2
%


4.0
%


3.8
%


6.9
%


6.2
%Expected return on plan assets


8.3
%


8.2
%


5.8
%


6.5
%






Rate of compensation increase


3.7
%


3.7
%


3.4
%


3.5
%






Health care cost trend


















9.0
%


10.0
%Ultimate health care cost trend


















5.0
%


5.0
%Years of ultimate rate


















2017



2012    66




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    Net Periodic
    Benefit Cost
    PostretirementU.S. Pension Benefits


Non-U.S. Pension Benefits


Medical Benefits2009


2008


2007


2009


2008


2007


2009


2008


2007Service cost

$
2,404


$
3,380


$
2,687


$
5,872


$
5,783


$
5,531


$
1,741


$
2,923


$
2,329Interest cost


3,612



3,683



2,962



4,319



4,222



3,700



2,883



3,106



2,629Expected return on plan assets


(4,789
)


(4,652
)


(3,939
)


(3,345
)


(4,306
)


(2,901
)










Amortization of prior service cost


4



4



4



257



232



218



(1,354
)


(667
)


(676
)Amortization of unrecognized transition obligation














40



43



40











Recognized actuarial losses














647



362



176



818



1,257



1,102Curtailment / settlement loss (gain)


158



(2,356
)


(12
)


3,606



(3,209
)






(3,702
)


132



278Net periodic benefit cost

$
1,389


$
59


$
1,702


$
11,396


$
3,127


$
6,764


$
386


$
6,751


$
5,662     Plan
    Assets
    2009


2008Non-U.S.





Non-U.S.U.S. Plan


Plan


U.S. Plan


PlanAssets


Assets


Assets


AssetsAsset category:Equity


65
%


58
%


65
%


64
%Bonds


35
%


29
%


35
%


19
%Other






13
%






17
%  67




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  Funding
    Expectations
  non-U.S. plans
  Estimated Future
    Benefit Payments
  non-U.S. pension
  Curtailments
      12.
    Debt     68




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  13.
    Operating
    Leases    Year ending June 30:2010

$
12,3672011


6,5312012


4,7142013


3,0492014


1,8962015 and thereafter


5,091Total lease payments

$
33,648     14.
    Fair Value
    Measurements      
    Level 1: Observable inputs such as quoted prices for
    identical assets or liabilities in active markets.
    Level 2: Observable inputs other than quoted prices
    substantiated by market data and observable, either directly or
    indirectly for the asset or liability. This includes quoted
    prices for similar assets or liabilities in active markets.
    Level 3: Unobservable inputs that are supported by
    little or no market activity and that are significant to the
    fair value of the assets and liabilities.    Quoted Pricesin Active


SignificantTotal


Markets for


Other


SignificantMeasured


Identical


Observable


Unobservableat Fair


Assets


Inputs


InputsValue


(Level 1)


(Level 2)


(Level 3)Available for sale and trading securities

$
52,401


$
52,401


$



$
Derivative financial instruments, net


2,601







2,601



Total

$
55,002


$
52,401


$
2,601


$
    69




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    15.
    Capital
    Stock          Class ACommon Stock


Common Stock


Treasury StockShares


Amount


Shares


Amount


Shares


AmountOutstanding at June 30, 2006


111,297


$
5,565



106,598


$
5,330



34,384


$
743,219Exercise of stock options


426



21



1,890



95



705



21,801Purchase of treasury stock


















1,248



34,889Issuance of stock awards










25



1







Other


7



1



49



2







(15
)Outstanding at June 30, 2007


111,730


$
5,587



108,562


$
5,428



36,337


$
799,894Exercise of stock options


457



23



1,210



60



376



9,543Purchase of treasury stock


















7,979



199,584Issuance of stock awards










10



1







Other


8







59



3







Outstanding at June 30, 2008


112,195


$
5,610



109,841


$
5,492



44,692


$
1,009,021Exercise of stock options










539



27



234



3,959Purchase of treasury stock


















4,507



76,342Issuance of stock awards










7











Other


9







81



4







Outstanding at June 30, 2009


112,204


$
5,610



110,468


$
5,523



49,433


$
1,089,322  70




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  16.
    Accumulated Other
    Comprehensive Income    2009


2008Foreign currency translation adjustments

$
222,183


$
335,793Non-current deferred tax asset


12,734



8,637Accumulated transition obligation


(167
)


(224
)Accumulated prior service credit


9,912



3,064Accumulated actuarial net loss


(61,899
)


(29,269
)Unrealized gains on investments


535



2,614Total

$
183,298


$
320,615   17.
    Stock Incentive
    Plans    Stock
    Options
  U.S.-based
  U.S.-based
   71




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    ExerciseShares


PriceOutstanding at June 30, 2006


10,420


$
20.02Granted


2,264



20.65Exercised


(2,122
)


17.46Forfeited or expired


(343
)


21.93Outstanding at June 30, 2007


10,219


$
20.98Granted


1,728



17.63Exercised


(1,433
)


15.91Forfeited or expired


(1,111
)


27.81Outstanding at June 30, 2008


9,403


$
20.38Granted


2,573



17.95Exercised


(343
)


12.27Forfeited or expired


(815
)


23.32Outstanding at June 30, 2009


10,818


$
19.83Exercisable at June 30, 2009


4,436


$
23.32       2009


2008


2007Weighted-average fair value of options granted:At market value of underlying stock

$
3.91


$
6.22


$
9.82At less than market value of underlying stock

$
10.73


$
11.36


$
14.68Assumptions:Dividend yield


3.61
%


1.95
%


1.06
%Expected volatility


32.33
%


27.44
%


28.44
%Risk-free interest rate


2.53
%


3.55
%


4.79
%Expected life of option (years)


5.37



4.14



3.94    72




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
  Stock
    Awards
    Fair MarketShares


ValueNonvested shares at June 30, 2006


500


$
24.33Granted


271



29.51Vested


(168
)


23.57Forfeited


(62
)


25.05Nonvested shares at June 30, 2007


541


$
27.08Granted


295



22.82Vested


(233
)


26.47Forfeited


(32
)


26.80Nonvested shares at June 30, 2008


571


$
25.14Granted


944



19.48Vested


(196
)


25.26Forfeited


(23
)


23.38Nonvested shares at June 30, 2009


1,296


$
21.03     Directors
    Deferred Compensation Plan
      18.
    Segment and
    Related Information   73




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    
    The Connector segment designs and manufactures products for
    high-speed, high-density, high signal-integrity applications as
    well as fine-pitch, low-profile connectors for the consumer and
    commercial markets. It also designs and manufactures products
    that withstand environments such as heat, cold, dust, dirt,
    liquid and vibration for automotive and other transportation
    applications.
    The Custom & Electrical segment designs and
    manufactures integrated and customizable electronic components
    across all industries that provide original, differentiated
    solutions to customer requirements. It also leverages expertise
    in the use of signal, power and interface technology in
    industrial automation and other harsh environment applications.    Custom &


CorporateConnector


Electrical


& Other


Total2009:Revenues from external customers

$
1,789,139


$
790,601


$
2,101


$
2,581,841Income (loss) from operations(1)


(125,604
)


(152,443
)


(68,149
)


(346,196
)Depreciation & amortization


201,303



33,283



17,316



251,902Capital expenditures


144,176



18,613



15,153



177,9422008:Revenues from external customers

$
2,377,584


$
941,365


$
9,398


$
3,328,347Income (loss) from operations


317,596



94,076



(93,722
)


317,950Depreciation & amortization


201,677



35,495



15,172



252,344Capital expenditures


180,889



22,705



31,032



234,6262007:Revenues from external customers

$
2,357,688


$
892,756


$
15,430


$
3,265,874Income (loss) from operations


361,834



52,898



(93,182
)


321,550Depreciation & amortization


178,613



41,197



18,102



237,912Capital expenditures


242,476



34,100



20,285



296,861     (1)
    
    Fiscal 2009 operating results include the following charges (in
    thousands):  Custom &


CorporateConnector


Electrical


& Other


TotalRestructuring costs and asset impairments

$
93,876


$
23,012


$
18,343


$
135,231Goodwill impairments


93,140



171,000







264,140Intangible asset impairments






16,300







16,300    74




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    2009


2008


2007Customer revenue:United States

$
535,079


$
888,941


$
896,625Japan


444,043



517,087



484,613China


613,743



735,657



717,735Net property, plant and equipment:United States

$
274,840


$
296,843


$
313,109Japan


272,753



299,447



280,246China


233,487



231,764



188,670     Custom &


CorporateConnector


Electrical


& Other


Total2009

$
1,388,110


$
390,906


$
184,645


$
1,963,6612008


1,706,575



500,197



164,745



2,371,517     June 30,


June 30,2009


2008Segment assets

$
1,963,661


$
2,371,517Other current assets


564,329



583,838Other non current assets


414,167



644,182Consolidated total assets

$
2,942,157


$
3,599,537   19.
    Quarterly
    Financial Information (Unaudited)    First


Second


Third


FourthQuarter


Quarter


Quarter


QuarterNet revenue

$
838,985


$
666,728


$
505,539


$
570,589Gross profit


249,472



176,072



93,396



137,237Net income (loss)


44,297



(87,244
)


(58,600
)


(219,740
)Basic earnings (loss) per share


0.25



(0.50
)


(0.34
)


(1.27
)Diluted earnings (loss) per share


0.25



(0.50
)


(0.34
)


(1.27
)  75




---



##### 



Molex
    Incorporated
  Notes to Consolidated Financial
    Statements  (Continued)
    First


Second


Third


FourthQuarter


Quarter


Quarter


QuarterNet revenue

$
792,610


$
841,560


$
822,285


$
871,892Gross profit


236,150



253,115



254,461



270,509Net income


53,304



59,216



50,306



52,611Basic earnings per share


0.29



0.33



0.28



0.30Diluted earnings per share


0.29



0.33



0.28



0.29     RestructuringCosts andAsset


Goodwill


ForeignImpairments


Impairment


Tax CreditsFiscal 2009:First quarter

$
15,666


$



$
Second quarter


29,899



93,140



Third quarter


34,009







Fourth quarter


32,224



171,000



Fiscal 2008:First quarter

$
1,476


$



$
Second quarter


4,716







Third quarter


4,902







6,344Fourth quarter


9,894







10,871  76




---



##### 



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  The Board of
    Directors and Stockholders of Molex Incorporated
              77




---



##### 



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  The Board of
    Directors and Stockholders of Molex Incorporated
              
    78




---



##### 



Item 9.
    Changes
    in and Disagreements with Accountants on Accounting and
    Financial Disclosure    Item 9A.
    Controls
    and Procedures  Form 10-K Rule 13a-14 Form 10-K
  Evaluation of
    Disclosure Controls and Procedures
  Form 10-K. Form 10-K,
  Form 10-K. Form 10-Q Form 10-K.
    Managements
    Report on Internal Control Over Financial Reporting
   79




---



##### 



Rule 13a-15(f).
  Internal
    Control  Integrated Framework
  Changes in
    Internal Control over Financial Reporting
    Inherent
    Limitations on Effectiveness of Controls
    Item 9B.
    Other
    Information   PART
    III  Item 10.
    Directors,
    Executive Officers and Corporate Governance  Code of Business
    Conduct and Ethics
     80




---



##### 



Regulation S-K Form 10-K
  Item 11.
    Executive
    Compensation    Item 12.
    Security
    Ownership of Certain Beneficial Owners and Management and
    Related Stockholder Matters      (c)Number of securitiesremaining available(a)


(b)


for future issuanceNumber of shares


Weighted-average


under equityto be issued upon


exercise price


compensation plansexercise of outstanding


of outstanding


(excluding sharesoptions


options


reflected in column (a))Common


Class A


Common


Class A


Common


Class APlan Category

Stock


Stock


Stock


Stock


Stock


StockEquity compensation plans approved by stockholders


106,250



12,007,451


$
27.55


$
17.62







10,098,583Equity compensation plans not approved by stockholders






















   Item 13.
    Certain
    Relationships and Related Transactions, and Director
    Independence    Item 14.
    Principal
    Accountant Fees and Services   81




---



##### 



PART IV  Item 15.
    Exhibits
    and Financial Statement Schedules          Form 10-K.
 82




---



##### 



Molex
    Incorporated
 Schedule II 
    Valuation and Qualifying Accounts For the Years
    Ended June 30, 2009, 2008, and 2007 (in
    thousands)
  Balance at








Other/


Balance atBeginning


Charges





Currency


Endof Period


to Income


Write-Offs


Translation


of PeriodReceivable Reserves:Year ended 2009

$
40,243


$
83,696


$
(89,794
)

$
(1,552
)

$
32,593Year ended 2008

$
31,064


$
69,020


$
(62,520
)

$
2,679


$
40,243Year ended 2007

$
26,513


$
71,245


$
(67,422
)

$
728


$
31,064Inventory Reserves:Year ended 2009:Slow and Excess

$
39,395


$
21,607


$
(21,492
)

$
(1,329
)

$
38,181Blocked Stock


1,063



272







(135
)


1,200Other


2,344



(364
)






(309
)


1,671Total

$
42,802


$
21,515


$
(21,492
)

$
(1,773
)

$
41,052Year ended 2008:Slow and Excess

$
39,956


$
15,453


$
(16,946
)

$
932


$
39,395Blocked Stock


835



251







(23
)


1,063Other


1,936



237







171



2,344Total

$
42,727


$
15,941


$
(16,946
)

$
1,080


$
42,802Year ended 2007:Slow and Excess

$
30,309


$
23,607


$
(20,983
)

$
7,023


$
39,956Blocked Stock


936



94







(195
)


835Other


2,689



(299
)






(454
)


1,936Total

$
33,934


$
23,402


$
(20,983
)

$
6,374


$
42,727Deferred tax asset valuation allowance:Year ended 2009

$
38,289


$
39,110


$



$



$
77,399Year ended 2008

$
39,366


$



$
(1,077
)

$



$
38,289Year ended 2007

$
33,920


$
1,308


$




4,138


$
39,366  83




---



##### 



Molex
    Incorporated
 Index of
    Exhibits  ExhibitNumber

Description

Location3
.1

Certificate of Incorporation (as amended and restated)

Incorporated by reference to Exhibit 3.1 to our annual
    report on
    Form 10-K
    for the year ended June 30, 2000. (File
    No. 000-07491)3
.2

By-laws (as amended and restated)

Incorporated by reference to Exhibit 3.1(ii) to our
    Form 8-K
    filed on November 19, 2007. (File
    No. 000-07491)4


Instruments defining rights of security holders

See Exhibit 3.110
.1

Foreign Service Employees Policies and Procedures

Incorporated by reference to Exhibit 10.15 to our quarterly
    report on
    Form 10-Q
    for the period ended March 31, 2005. (File
    No. 000-07491)10
.2

Employment Offer Letter to David D. Johnson

Incorporated by reference to Exhibit 10.18 to our quarterly
    report on
    Form 10-Q
    for the period ended March 31, 2005. (File
    No. 000-07491)10
.3

Deferred Compensation Agreement between Molex and Frederick A.
    Krehbiel

Incorporated by reference to Exhibit 10.12 to our quarterly
    report on
    Form 10-Q
    for the period ended March 31, 2005. (File
    No. 000-07491)10
.4

Deferred Compensation Agreement between Molex and John H.
    Krehbiel, Jr.

Incorporated by reference to Exhibit 10.13 to our quarterly
    report on
    Form 10-Q
    for the period ended March 31, 2005. (File
    No. 000-07491)10
.5

2005 Molex Supplemental Executive Retirement Plan

Incorporated by reference to Exhibit 10.5 to our annual
    report on
    Form 10-K
    for the year ended June 30, 2008. (File
    No. 000-07491)10
.6

Molex Executive Deferred Compensation Plan

Incorporated by reference to Exhibit 10.6 to our annual
    report on
    Form 10-K
    for the year ended June 30, 2008. (File
    No. 000-07491)10
.7

Summary of Non-Employee Director Compensation

Incorporated by reference to Exhibit 10.7 to our annual
    report on
    Form 10-K
    for the year ended June 30, 2008. (File
    No. 000-07491)10
.8

Molex Outside Directors Deferred Compensation Plan

Incorporated by reference to Exhibit 99.1 to our
    Form 8-K
    filed on August 1, 2006. (File
    No. 000-07491)10
.9

2000 Molex Long-Term Stock Plan, as amended and restated

Incorporated by reference to Appendix V to our 2007 Proxy
    Statement. (File
    No. 000-07491)10
.10

Form of Stock Option Agreement under the 2000 Molex Long-Term
    Stock Plan

Incorporated by reference to Exhibit 10.10 to our annual
    report on
    Form 10-K
    for the year ended June 30, 2008. (File
    No. 000-07491)10
.11

Form of Restricted Stock Agreement under the 2000 Molex
    Long-Term Stock Plan

Incorporated by reference to Exhibit 10.11 to our annual
    report on
    Form 10-K
    for the year ended June 30, 2008. (File
    No. 000-07491)10
.12

2005 Molex Incentive Stock Option Plan, as amended and restated

Incorporated by reference to Appendix VI to our 2007 Proxy
    Statement. (File
    No. 000-07491)10
.13

Form of Stock Option Agreement under the 2005 Molex Incentive
    Stock Option Plan

Incorporated by reference to Exhibit 10.12 to our
    Form 10-K
    for the period ended June 30, 2007. (File
    No. 000-07491)10
.14

Molex Incorporated Annual Incentive Plan

Incorporated by reference to Appendix III to our 2008 Proxy
    Statement. (File
    No. 000-07491)10
.15

2008 Molex Stock Incentive Plan

Incorporated by reference to Appendix IV to our 2008 Proxy
    Statement. (File
    No. 000-07491)10
.16

Separation Agreement between David B. Root and Molex
    Incorporated dated April 6, 2009.

Incorporated by reference to  Exhibit 10.1 to our
    Form 8-K
    filed on April 9, 2009. (File
    No. 000-07491) 84




---



##### 



ExhibitNumber

Description

Location10
.17

Credit Agreement dated June 24, 2009 among Molex
    Incorporated, the Lenders named therein, J.P. Morgan Chase
    Bank, N.A. as Administrative Agent, Standard Charter Bank as
    Syndication Agent, The Northern Trust Company as Documentation
    Agent

Incorporated by reference to Exhibit 10.1 to our
    Form 8-K
    filed on June 30, 2009. (File
    No. 000-07491)21


Subsidiaries of the Company

Filed herewith23


Consent of Ernst & Young, LLP

Filed herewith31
.1

Certification by the Chief Executive Officer Pursuant to
    Section 302 of the Sarbanes-Oxley Act of 2002

Filed herewith31
.2

Certification by the Chief Financial Officer Pursuant to
    Section 302 of the Sarbanes-Oxley Act of 2002

Filed herewith32
.1

Certification by the Chief Executive Officer Pursuant to
    18 U.S.C. Section 1350, as adopted pursuant to
    Section 906 of the Sarbanes-Oxley Act of 2002

Furnished herewith32
.2

Certification by the Chief Financial Officer Pursuant to
    18 U.S.C. Section 1350, as adopted pursuant to
    Section 906 of the Sarbanes-Oxley Act of 2002

Furnished herewith    85




---



##### 



Signatures    
  By:
    /s/  DAVID
    D. JOHNSON          August 4, 2009

Co-Chairman of the Board

/s/  FREDERICK
    A. KREHBIELFrederick
    A. KrehbielAugust 4, 2009

Co-Chairman of the Board

/s/  JOHN
    H. KREHBIEL, JR.John
    H. Krehbiel, Jr.August 4, 2009

Vice Chairman of the Board and Chief Executive Officer 
    (Principal Executive Officer)

/s/  MARTIN
    P. SLARKMartin
    P. SlarkAugust 4, 2009

Executive Vice President, Treasurer and Chief Financial
    Officer
    (Principal Financial Officer)

/s/  DAVID
    D. JOHNSONDavid
    D. JohnsonAugust 4, 2009

Vice President, Corporate Controller and Chief Accounting
    Officer 
    (Principal Accounting Officer)

/s/  K.
    TRAVIS GEORGEK.
    Travis GeorgeAugust 4, 2009

Director

/s/  FRED
    L. KREHBIELFred
    L. KrehbielAugust 4, 2009

Director

/s/  MICHAEL
    J. BIRCKMichael
    J. BirckAugust 4, 2009

Director

/s/  MICHELLE
    L. COLLINSMichelle
    L. CollinsAugust 4, 2009

Director

/s/  EDGAR
    D. JANNOTTAEdgar
    D. Jannotta 86




---



##### 



August 4, 2009

Director

/s/  DAVID
    L. LANDSITTELDavid
    L. LandsittelAugust 4, 2009

Director

/s/  JOE
    W. LAYMONJoe
    W. LaymonAugust 4, 2009

Director

/s/  DONALD
    G. LUBINDonald
    G. LubinAugust 4, 2009

Director

/s/  JAMES
    S. METCALFJames
    S. MetcalfAugust 4, 2009

Director

/s/  ROBERT
    J. POTTERRobert
    J. Potter  87