20. Segment and Geographic Data

Effective for fiscal 2025, we reorganized our management and segments to align the organization around our current strategy. Our businesses in the former Communications Solutions segment have been moved into the Industrial Solutions segment. Also, the appliances and industrial equipment businesses have been combined to form the automation and connected living business. In addition, we realigned certain product lines and businesses from the Industrial Solutions and former Communications Solutions segments to the Transportation Solutions segment. We now operate through two reportable segments: Transportation Solutions and Industrial Solutions. Our segments are organized based on several factors, including differences in markets, products, and customers. See Note 1 for a description of our segments. The following segment information reflects the new segment reporting structure. Prior period segment results have been recast to conform to the new segment structure.

Segment performance is evaluated by our chief operating decision maker (“CODM”), the Chief Executive Officer, based primarily on net sales and operating income. On a regular basis, the CODM considers segment results in combination with budget-to-actual variances, segment performance reviews, trends and forecasts, and the overall economic environment to assess segment performance, make decisions, and determine how to allocate capital and other resources to the segments.

Costs specific to a segment are charged to the segment, and corporate expenses, such as headquarters administrative costs, are allocated to the segments based on each segment’s share of total operating income. Intersegment sales are not material. Corporate assets are allocated to the segments based on each segment’s share of total segment assets.

No single customer accounted for a significant amount of our net sales in fiscal 2025, 2024, or 2023.

As we are not organized by product or service, it is not practicable to disclose net sales by product or service.

Net sales by segment and industry end market were as follows:


	Fiscal
	2025		2024		2023

	(in millions)
Transportation Solutions:
Automotive	$	7,052	$	7,039	$	7,038
Commercial transportation		1,425		1,456		1,525
Sensors		911		986		1,112
Total Transportation Solutions		9,388		9,481		9,675
Industrial Solutions:
Digital data networks		2,208		1,274		1,162
Automation and connected living		2,147		1,994		2,352
Aerospace, defense, and marine		1,483		1,344		1,178
Energy		1,344		919		883
Medical		692		833		784
Total Industrial Solutions		7,874		6,364		6,359
Total	$	17,262	$	15,845	$	16,034

Net sales by geographic region and segment were as follows:


	Fiscal
	2025		2024		2023

	(in millions)
Asia–Pacific:
Transportation Solutions	$	4,118	$	3,709	$	3,447
Industrial Solutions		2,434		1,658		1,709
Total Asia–Pacific		6,552		5,367		5,156
Europe/Middle East/Africa (“EMEA”):
Transportation Solutions		3,282		3,600		3,897
Industrial Solutions		2,460		2,299		2,311
Total EMEA		5,742		5,899		6,208
Americas:
Transportation Solutions		1,988		2,172		2,331
Industrial Solutions		2,980		2,407		2,339
Total Americas		4,968		4,579		4,670
Total	$	17,262	$	15,845	$	16,034

The following table presents operating results and other data by reportable segment:


	Transportation		Industrial
	Solutions		Solutions		Total

	(in millions)
As of or for the fiscal year ended September 26, 2025
Net sales	$	9,388	$	7,874	$	17,262
Less:
Cost of sales		6,151		5,032		11,183
Selling, general, and administrative expenses		892		974		1,866
Research, development, and engineering expenses		452		377		829
Other segment items⁽¹⁾		75		98		173
Operating income	$	1,818	$	1,393	$	3,211

Depreciation	$	405	$	243	$	648
Amortization		70		120		190
Capital expenditures		495		441		936
Segment assets⁽²⁾		5,975		4,439		10,414
As of or for the fiscal year ended September 27, 2024
Net sales	$	9,481	$	6,364	$	15,845
Less:
Cost of sales		6,220		4,169		10,389
Selling, general, and administrative expenses		874		858		1,732
Research, development, and engineering expenses		440		301		741
Other segment items⁽¹⁾		67		120		187
Operating income	$	1,880	$	916	$	2,796

Depreciation	$	451	$	209	$	660
Amortization		71		95		166
Capital expenditures		431		249		680
Segment assets⁽²⁾		5,758		3,717		9,475
As of or for the fiscal year ended September 29, 2023
Net sales	$	9,675	$	6,359	$	16,034
Less:
Cost of sales		6,702		4,277		10,979
Selling, general, and administrative expenses		840		830		1,670
Research, development, and engineering expenses		432		276		708
Other segment items⁽¹⁾		214		159		373
Operating income	$	1,487	$	817	$	2,304

Depreciation	$	398	$	209	$	607
Amortization		92		95		187
Capital expenditures		471		261		732
Segment assets⁽²⁾		5,762		3,511		9,273

(1)	Other segment items consist of acquisition and integration costs and net restructuring and other charges.

(2)	Segment assets are composed of accounts receivable, inventories, and net property, plant, and equipment.

The following table presents a reconciliation of segment assets to total assets:


	Fiscal Year End
	2025		2024		2023

	(in millions)
Total segment assets	$	10,414	$	9,475	$	9,273
Other current assets		1,864		2,059		2,373
Other noncurrent assets		12,803		11,320		10,066
Total assets	$	25,081	$	22,854	$	21,712

Net sales and net property, plant, and equipment by geographic region were as follows:


							Property, Plant, and
	Net Sales⁽¹⁾						Equipment, Net
	Fiscal						Fiscal Year End
	2025		2024		2023		2025		2024		2023

	(in millions)
Asia–Pacific:
China	$	4,610	$	3,571	$	3,182	$	970	$	844	$	794
Other Asia–Pacific		1,942		1,796		1,974		373		332		294
Total Asia–Pacific		6,552		5,367		5,156		1,343		1,176		1,088
EMEA:
Switzerland		3,860		3,906		4,111		15		7		6
Germany		193		236		405		592		586		637
Other EMEA		1,689		1,757		1,692		1,134		1,060		965
Total EMEA		5,742		5,899		6,208		1,741		1,653		1,608
Americas:
U.S.		4,408		4,020		4,107		1,085		953		933
Other Americas		560		559		563		143		121		125
Total Americas		4,968		4,579		4,670		1,228		1,074		1,058
Total	$	17,262	$	15,845	$	16,034	$	4,312	$	3,903	$	3,754

(1)	Net sales to external customers are attributed to individual countries based on the legal entity that records the sale.

Historical Timeline

Fiscal Year	Filed
2025	Nov 10, 2025	Showing above
2024	Nov 12, 2024

2023	Nov 13, 2023

2022	Nov 15, 2022

2021	Nov 9, 2021

2020	Nov 10, 2020

2019	Nov 12, 2019

2018	Nov 13, 2018

2017	Nov 14, 2017

2016	Nov 15, 2016

2015	Nov 10, 2015

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.

TE Connectivity plc Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures