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v3.25.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information by Segment | The following table presents net revenue, segment and non-segment operating expenses, and segment and non-segment operating income for the reportable segments and other operating results not allocated to our reportable segments for the three months ended March 31, 2025 and 2024:
| For the three months ended
| March 31, 2025 |  | March 31, 2024
Net revenue: |  |  |
Performance Sensing | $ | 650,416 |  |  | $ | 713,318 |
Sensing Solutions | 260,839 |  |  | 257,839 |
Other | — |  |  | 35,552 |
Total net revenue | $ | 911,255 |  |  | $ | 1,006,709 |
Segment and non-segment operating expenses(1): |  |  |
Performance Sensing | $ | 507,540 |  |  | $ | 544,350 |
Sensing Solutions | 184,773 |  |  | 185,545 |
Other | — |  |  | 28,771 |
Total segment and non-segment operating expenses | $ | 692,313 |  |  | $ | 758,666 |
Segment and non-segment operating income (as defined above): |  |  |
Performance Sensing (1) | $ | 142,876 |  |  | $ | 168,968 |
Sensing Solutions (1) | 76,066 |  |  | 72,294 |
Other (1) | — |  |  | 6,781 |
Total segment and non-segment operating income | 218,942 |  |  | 248,043 |
Corporate and other | (69,189) |  |  | (63,954) |
Amortization of intangible assets | (20,577) |  |  | (38,515) |
Restructuring and other charges, net | (6,980) |  |  | (782) |
Operating income | 122,196 |  |  | 144,792 |
Interest expense | (37,973) |  |  | (38,395) |
Interest income | 4,290 |  |  | 3,738 |
Other, net | 2,128 |  |  | (11,544) |
Income before taxes | $ | 90,641 |  |  | $ | 98,591 |
___________________________________ (1) Other segment and non-segment expenses include associated cost of revenue, research and development, and selling, general and administrative expenses.
Schedule of Depreciation and Amortization, by Segment | The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three months ended March 31, 2025 and 2024:
| For the three months ended
| March 31, 2025 |  | March 31, 2024
Depreciation and amortization: |  |  |
Performance Sensing | $ | 24,982 |  |  | $ | 23,960 |
Sensing Solutions | 3,890 |  |  | 4,124 |
Corporate and other (1) | 32,667 |  |  | 43,954 |
Total depreciation and amortization | $ | 61,539 |  |  | $ | 72,038 |
__________________________ (1)Included within corporate and other is amortization of intangible assets, accelerated depreciation recognized in connection with restructuring actions, and depreciation of certain assets. We do not allocate these amounts to our segments. This treatment is consistent with the financial information reviewed by our chief operating decision maker.
Schedule of Capital Expenditures by Segment | The following table presents additions to PP&E and capitalized software for our reportable segments and corporate and other for the three months ended March 31, 2025 and 2024:
| For the three months ended
| March 31, 2025 |  | March 31, 2024
Additions to property, plant and equipment and capitalized software: |  |  |
Performance Sensing | $ | 23,050 |  |  | $ | 31,013 |
Sensing Solutions | 3,063 |  |  | 3,263 |
Corporate and other | 6,462 |  |  | 7,854 |
Total additions to property, plant and equipment and capitalized software | $ | 32,575 |  |  | $ | 42,130 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | The following tables present net revenue by geographic area and by significant country for the three months ended March 31, 2025 and 2024. In these tables, net revenue is aggregated according to the location of our subsidiaries.
| For the three months ended
| March 31, 2025 |  | March 31, 2024
Net revenue: |  |  |
Americas | $ | 372,450 |  |  | $ | 429,108 |
Europe | 252,463 |  |  | 284,737 |
Asia and rest of world | 286,342 |  |  | 292,864 |
Net revenue | $ | 911,255 |  |  | $ | 1,006,709 |
| For the three months ended
| March 31, 2025 |  | March 31, 2024
Net revenue: |  |  |
United States | $ | 344,990 |  |  | $ | 395,400 |
China | 174,594 |  |  | 179,408 |
The Netherlands | 217,774 |  |  | 246,611 |
United Kingdom | 26,921 |  |  | 28,899 |
All other | 146,976 |  |  | 156,391 |
Net revenue | $ | 911,255 |  |  | $ | 1,006,709 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country | The following tables present PP&E, net, by geographic area and by significant country as of March 31, 2025 and 2024. In these tables, PP&E, net is aggregated based on the location of our subsidiaries.
| March 31, 2025 |  | December 31, 2024
Property, plant and equipment, net: |  |  |
Americas | $ | 295,796 |  |  | $ | 301,900 |
Europe | 141,133 |  |  | 141,396 |
Asia and rest of world | 375,355 |  |  | 378,357 |
Property, plant and equipment, net | $ | 812,284 |  |  | $ | 821,653 |
| March 31, 2025 |  | December 31, 2024
Property, plant and equipment, net: |  |  |
United States | $ | 116,260 |  |  | $ | 121,783 |
China | 259,293 |  |  | 266,104 |
Mexico | 179,402 |  |  | 179,980 |
Bulgaria | 104,725 |  |  | 108,093 |
United Kingdom | 24,471 |  |  | 21,147 |
Malaysia | 111,565 |  |  | 108,118 |
All other | 16,568 |  |  | 16,428 |
Property, plant and equipment, net | $ | 812,284 |  |  | $ | 821,653 |

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- Definition Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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