Sensata Technologies Holding plcST
Sensata Technologies Holding plc Segments Disclosure
Segment Reporting
We present financial information for three reportable segments, Automotive, Industrials, and Aerospace, Defense, and Commercial Equipment. Also, in the last quarter of 2025, we realigned our segments as a result of organizational changes that better allocate our resources to support changes to our business strategy. Refer to Note 1: Basis of Presentation for additional information. Our operating segments are business segments that we manage as components of an enterprise, for which separate financial information is evaluated regularly by our chief operating decision maker ("CODM"), who is our chief executive officer, in deciding how to allocate resources and assess performance.
An operating segment’s performance is primarily evaluated based on segment operating income, which excludes amortization of intangible assets, impairment of goodwill and other intangible assets, restructuring charges, and certain corporate costs or credits not associated with the operations of the segment. Corporate and other costs excluded from a segment’s performance are separately stated below and include costs that are related to functional areas such as finance, information technology, legal, and human resources. The CODM uses operating income primarily in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis for operating income when making decisions about the allocation of operating and capital resources to each segment. Significant expenses reviewed by the CODM are segment cost of revenue and segment operating expenses. We believe that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of our segments. However, the measure should be considered in addition to, and not as a substitute for, or superior to, operating income or other measures of financial performance prepared with U.S. GAAP. The accounting policies of each of our operating and reportable segments are materially consistent with those described in Note 2: Significant Accounting Policies.
The Automotive segment primarily serves the Automotive OEM and aftermarket industries through the development and manufacturing of sensors, high-voltage solutions (i.e., electrical protection components), and other solutions that are used in mission-critical systems and applications.
Industrials primarily serves industrial customers through the development and manufacture of a broad portfolio of application-specific sensor, power management, and electrical protection products used in a diverse range of industrial markets, including the appliance, HVAC, material handling, charging infrastructure, renewable energy generation, and microgrid applications and
markets.
The Aerospace, Defense, and Commercial Equipment primarily serves the aerospace, including commercial aircraft, defense, and commercial equipment, which includes on-road truck, construction, and agriculture markets, through the development and manufacture of a variety of sensors, electrical protection products, operator controls, and other solutions that are used in mission-critical systems and applications.
The following table presents net revenue, cost of 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 the reportable segments for the years ended December 31, 2025, 2024, and 2023. The net revenue and segment operating income and corporate and other amounts previously reported in the table below for the years ended December 31, 2025, 2024, and 2023 have been retrospectively recast to reflect the segment realignments as described above.
For the year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net revenue: | |||||||||||||||||
Automotive (1) | $ | 2,111.7 | $ | 2,195.5 | $ | 2,167.4 | |||||||||||
Industrials (1) | 787.8 | 749.2 | 863.2 | ||||||||||||||
Aerospace, Defense, and Commercial Equipment (1) | 805.0 | 860.2 | 876.1 | ||||||||||||||
Other | — | 127.9 | 147.5 | ||||||||||||||
| Total net revenue | $ | 3,704.5 | $ | 3,932.8 | $ | 4,054.1 | |||||||||||
Segment and non-segment cost of revenue: | |||||||||||||||||
Automotive | $ | 1,456.2 | $ | 1,506.8 | $ | 1,480.9 | |||||||||||
Industrials | 469.3 | 454.0 | 528.3 | ||||||||||||||
Aerospace, Defense, and Commercial Equipment | 524.0 | 549.0 | 542.5 | ||||||||||||||
| Other | — | 72.8 | 90.2 | ||||||||||||||
Total segment and non-segment cost of revenue | $ | 2,449.5 | $ | 2,582.6 | $ | 2,641.8 | |||||||||||
Segment and non-segment operating expenses(2): | |||||||||||||||||
Automotive (1) | $ | 154.8 | $ | 181.2 | $ | 175.9 | |||||||||||
Industrials (1) | 92.4 | 102.9 | 116.3 | ||||||||||||||
Aerospace, Defense, and Commercial Equipment (1) | 69.5 | 84.6 | 93.7 | ||||||||||||||
| Other | — | 27.1 | 49.8 | ||||||||||||||
| Total segment and non-segment operating expenses | $ | 316.6 | $ | 395.8 | $ | 435.6 | |||||||||||
| Segment and non-segment operating income (as defined above): | |||||||||||||||||
Automotive (1) | $ | 500.8 | $ | 507.5 | $ | 510.7 | |||||||||||
Industrials (1) | 226.0 | 192.3 | 218.6 | ||||||||||||||
Aerospace, Defense, and Commercial Equipment (1) | 211.5 | 226.5 | 239.9 | ||||||||||||||
Other | — | 28.1 | 7.5 | ||||||||||||||
| Total segment and non-segment operating income | 938.4 | 954.4 | 976.7 | ||||||||||||||
Corporate and other (1) | (344.1) | (360.1) | (245.0) | ||||||||||||||
| Amortization of intangible assets | (80.2) | (145.7) | (173.9) | ||||||||||||||
Goodwill impairment charge | (225.7) | (150.1) | (321.7) | ||||||||||||||
| Restructuring and other charges, net | (50.8) | (149.2) | (54.5) | ||||||||||||||
| Operating income | 237.5 | 149.3 | 181.7 | ||||||||||||||
| Interest expense | (149.1) | (155.8) | (182.2) | ||||||||||||||
| Interest income | 19.1 | 16.2 | 31.3 | ||||||||||||||
| Other, net | 15.8 | (21.5) | (13.0) | ||||||||||||||
Income/(loss) before taxes | $ | 123.3 | $ | (11.8) | $ | 17.8 | |||||||||||
___________________________________
(1) The amounts previously reported for the years ended December 31, 2024 and 2023 have been retrospectively recast to reflect the segment realignment as discussed in Note 1: Basis of Presentation.
(2) Segment operating expenses include research, development, and engineering, and selling, general and administrative expenses associated with each segment.
The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the years ended December 31, 2025, 2024, and 2023:
For the year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Depreciation and amortization: | |||||||||||||||||
Automotive | $ | 88.6 | $ | 80.0 | $ | 82.3 | |||||||||||
Industrials | 12.8 | 11.5 | 13.5 | ||||||||||||||
Aerospace, Defense, and Commercial Equipment | 17.8 | 18.1 | 18.6 | ||||||||||||||
Corporate and other (1) | 137.2 | 203.2 | 192.6 | ||||||||||||||
| Total depreciation and amortization | $ | 256.4 | $ | 312.8 | $ | 307.0 | |||||||||||
__________________________
(1)Included within corporate and other is depreciation expense associated with the step-up in fair value of assets acquired in connection with a business combination (e.g., PP&E and inventories), amortization of intangible assets, and accelerated depreciation recognized in connection with restructuring actions. We do not allocate these amounts to our segments. This treatment is consistent with the financial information reviewed by our chief operating decision maker.
The following table presents additions to PP&E and capitalized software for our reportable segments and corporate and other for the years ended December 31, 2025, 2024, and 2023:
For the year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Additions to property, plant and equipment and capitalized software: | |||||||||||||||||
Automotive | $ | 93.9 | $ | 113.2 | $ | 129.8 | |||||||||||
Industrials | 14.5 | 16.4 | 18.1 | ||||||||||||||
Aerospace, Defense, and Commercial Equipment | 3.9 | 2.8 | 3.6 | ||||||||||||||
| Corporate and other | 18.9 | 26.2 | 33.1 | ||||||||||||||
| Total additions to property, plant and equipment and capitalized software | $ | 131.2 | $ | 158.6 | $ | 184.6 | |||||||||||
Geographic Area Information
The following tables present net revenue by geographic area and by significant country for the years ended December 31, 2025, 2024, and 2023. In these tables, net revenue is aggregated according to the location of our subsidiaries.
For the year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net revenue: | |||||||||||||||||
| Americas | $ | 1,499.7 | $ | 1,702.0 | $ | 1,825.0 | |||||||||||
| Europe | 1,013.5 | 1,061.6 | 1,066.1 | ||||||||||||||
| Asia and rest of world | 1,191.3 | 1,169.2 | 1,163.0 | ||||||||||||||
| Net revenue | $ | 3,704.5 | $ | 3,932.8 | $ | 4,054.1 | |||||||||||
For the year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net revenue: | |||||||||||||||||
| United States | $ | 1,445.2 | $ | 1,574.0 | $ | 1,678.5 | |||||||||||
| China | 745.4 | 724.0 | 724.7 | ||||||||||||||
| The Netherlands | 861.7 | 897.1 | 904.2 | ||||||||||||||
| United Kingdom | 116.4 | 127.2 | 105.2 | ||||||||||||||
| All other | 535.8 | 610.5 | 641.5 | ||||||||||||||
| Net revenue | $ | 3,704.5 | $ | 3,932.8 | $ | 4,054.1 | |||||||||||
The following tables present PP&E, net, by geographic area and by significant country as of December 31, 2025 and 2024. In these tables, PP&E, net is aggregated based on the location of our subsidiaries.
As of December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Property, plant and equipment, net: | |||||||||||
| Americas | $ | 262.3 | $ | 301.9 | |||||||
| Europe | 135.4 | 141.4 | |||||||||
| Asia and rest of world | 378.7 | 378.4 | |||||||||
| Property, plant and equipment, net | $ | 776.5 | $ | 821.7 | |||||||
As of December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Property, plant and equipment, net: | |||||||||||
| United States | $ | 99.4 | $ | 121.8 | |||||||
| China | 254.3 | 266.1 | |||||||||
| Mexico | 162.8 | 180.0 | |||||||||
| Bulgaria | 99.4 | 108.1 | |||||||||
| United Kingdom | 24.6 | 21.1 | |||||||||
| Malaysia | 120.5 | 108.1 | |||||||||
| All other | 15.5 | 16.5 | |||||||||
| Property, plant and equipment, net | $ | 776.5 | $ | 821.7 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 13, 2023 | |
| 2021 | Feb 10, 2022 | |
| 2020 | Feb 12, 2021 | |
| 2019 | Feb 11, 2020 | |
| 2018 | Feb 6, 2019 | |
| 2017 | Feb 1, 2018 | |
| 2016 | Feb 2, 2017 | |
| 2015 | Feb 2, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.