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SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Information

Segment Net Sales, Significant Segment Expenses and Segment Operating EBITDA			Three Months Ended September 30,
			2025						2024
(In millions)			Semiconductor Technologies			Interconnect Solutions			Semiconductor Technologies			Interconnect Solutions
Segment net sales			$	693		$	583		$	640		$	508
Less 1:
Cost of sales			$	360		$	341		$	315		$	294
Selling, general and administrative expenses			69			77			76			70
Research and development expenses			58			34			50			30
Amortization of intangibles & other segment items 2			11			37			12			42
Add:
Equity in earnings of nonconsolidated affiliates			$	14		$	1		$	10		$	—
Depreciation and amortization 3			31			57			35			63
Segment operating EBITDA			$	240		$	152		$	232		$	135

Segment Net Sales, Significant Segment Expenses and Segment Operating EBITDA			Nine Months Ended September 30,
			2025						2024
(In millions)			Semiconductor Technologies			Interconnect Solutions			Semiconductor Technologies			Interconnect Solutions
Segment net sales			$	1,981		$	1,583		$	1,834		$	1,400
Less 1:
Cost of sales			$	991		$	927		$	918		$	835
Selling, general and administrative expenses			202			215			226			206
Research and development expenses			167			96			144			84
Amortization of intangibles & other segment items 2			37			116			35			136
Add:
Equity in earnings (losses) of nonconsolidated affiliates			$	38		$	(1)		$	34		$	(1)
Depreciation and amortization 3			91			175			93			193
Segment operating EBITDA			$	713		$	403		$	638		$	331

1.The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

2.Other segment items include immaterial other gains or losses and miscellaneous income and expenses.

3.Depreciation is a reconciling item to Segment Operating EBITDA as it is included within "Cost of sales", "Selling, general and administrative expenses" and "Research and development expenses".

Schedule of Reconciliation of Income from Continuing Operations

Reconciliation of Segment Operating EBITDA to Income Before Income Taxes						Three Months Ended September 30,						Nine Months Ended September 30,
In millions						2025			2024			2025			2024
Semiconductor Technologies segment operating EBITDA						$	240		$	232		$	713		$	638
Interconnect Solutions segment operating EBITDA						152			135			403			331
Total segment operating EBITDA						$	392		$	367		$	1,116		$	969
+			Corporate Operating EBITDA 1			$	(10)		$	(8)		$	(25)		$	(21)
-			Depreciation and amortization			94			102			280			297
-			Interest expense 2			14			—			14			—
+			Non-operating pension benefit (costs) credits 3			(2)			1			(2)			1
+			Foreign exchange gains (losses), net 3			1			(4)			(4)			3
+			Significant items charges			(1)			(4)			(18)			(7)
Income before income taxes						$	272		$	250		$	773		$	648

1.Corporate includes certain enterprise and governance activities including non-allocated corporate overhead costs and support functions, leveraged services, and other costs not absorbed by reportable segments.

2.Interest expense in 2025 was driven by interest associated with the Secured and Unsecured Notes.

3.Included in "Other income (expense) - net."

Capital Expenditure Reconciliation to Unaudited Interim Combined Financial Statements			Three Months Ended September 30,						Nine Months Ended September 30,
In millions			2025			2024			2025			2024
Semiconductor Technologies			$	37		$	18		$	94		$	49
Interconnect Solutions			25			23			69			53
Corporate			6			5			14			15
Segment totals			$	68		$	46		$	177		$	117
Accrual to cash adjustment 1			(7)			(17)			37			17
Total			$	61		$	29		$	214		$	134

1.Reflects the incremental cash spent or unpaid on capital expenditures; total capital expenditures are presented on a cash basis.

Schedule of Pre-Tax Impact Of Significant Items by Segment

The following tables summarize the pre-tax impact of significant items by segment that are excluded from Operating EBITDA above:

Significant Items by Segment for the Three Months Ended September 30, 2025			Semiconductor Technologies			Interconnect Solutions			Corporate			Total
In millions
Restructuring and asset related charges - net 1			$	—		$	—		$	(1)		$	(1)
Total			$	—		$	—		$	(1)		$	(1)

1. Includes restructuring actions and asset related charges. See Note 4 for additional information.

Significant Items by Segment for the Three Months Ended September 30, 2024			Semiconductor Technologies			Interconnect Solutions			Corporate			Total
In millions
Restructuring and asset related charges - net 1			$	—		$	(8)		$	4		$	(4)
Total			$	—		$	(8)		$	4		$	(4)

1. Includes restructuring actions and asset related charges. See Note 4 for additional information.

Significant Items by Segment for the Nine Months Ended September 30, 2025			Semiconductor Technologies			Interconnect Solutions			Corporate			Total
In millions
Restructuring and asset related charges - net 1			$	(3)		$	(4)		$	(13)		$	(20)
Employee Retention Credit 2			2			—			—			2
Total			$	(1)		$	(4)		$	(13)		$	(18)

1. Includes restructuring actions and asset related charges. See Note 4 for additional information.

2. Reflects the accrued interest earned on employee retention credits and is recorded in "Interest income" within the "Other income (expense) - net" line item in the Company's unaudited interim Combined Statements of Operations.

Significant Items by Segment for the Nine Months Ended September 30, 2024			Semiconductor Technologies			Interconnect Solutions			Corporate			Total
In millions
Restructuring and asset related charges - net 1			$	(1)		$	(10)		$	4		$	(7)
Total			$	(1)		$	(10)		$	4		$	(7)

1. Includes restructuring actions and asset related charges. See Note 4 for additional information.

Schedule of Total Asset Reconciliation

Segment and Corporate Information			Semiconductor Technologies			Interconnect Solutions			Corporate			Total
In millions
As of September 30, 2025
Total Assets			$	6,736		$	5,313		$	463		$	12,512
Investment in nonconsolidated affiliates			407			12			—			419
As of December 31, 2024
Total Assets			$	6,520		$	5,270		$	483		$	12,273
Investment in nonconsolidated affiliates			370			12			—			382

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