CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions |
Mar. 31, 2026 |
Dec. 31, 2025 |
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| CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| Allowance for doubtful accounts | $ 94.9 | $ 99.3 |
| Accumulated depreciation | $ 3,261.4 | $ 3,096.0 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions |
3 Months Ended | |
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Mar. 31, 2026 |
Mar. 31, 2025 |
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| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||
| Net income | $ 943.3 | $ 744.2 |
| Total other comprehensive (loss) income, net of tax: | ||
| Foreign currency translation adjustments | (16.0) | 72.1 |
| Reclassification of net unrealized loss on hedging activities to interest expense, net of tax of ($0.3) | 1.1 | |
| Pension and postretirement benefit plan adjustment, net of tax of ($0.4) and ($0.3), respectively | 1.4 | 0.8 |
| Total other comprehensive (loss) income, net of tax | (13.5) | 72.9 |
| Total comprehensive income | 929.8 | 817.1 |
| Less: Comprehensive income attributable to noncontrolling interests | (11.2) | (7.1) |
| Comprehensive income attributable to Amphenol Corporation | $ 918.6 | $ 810.0 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | |
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Mar. 31, 2026 |
Mar. 31, 2025 |
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| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||
| Unrealized loss on hedging activities, tax | $ (0.3) | |
| Pension and postretirement benefit plan adjustment, tax | $ (0.4) | $ (0.3) |
Basis of Presentation and Principles of Consolidation |
3 Months Ended |
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Mar. 31, 2026 | |
| Basis of Presentation and Principles of Consolidation | |
| Basis of Presentation and Principles of Consolidation | Note 1—Basis of Presentation and Principles of Consolidation The Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, and each of the related Condensed Consolidated Statements of Income, Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Cash Flow for the three months ended March 31, 2026 and 2025, include the accounts of Amphenol Corporation and its subsidiaries (“Amphenol,” the “Company,” “we,” “our” or “us”). All material intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements included herein are unaudited. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, including normal recurring adjustments considered necessary for a fair presentation of the results, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements and the related notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report”). |
New Accounting Pronouncements |
3 Months Ended |
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Mar. 31, 2026 | |
| New Accounting Pronouncements | |
| New Accounting Pronouncements | Note 2—New Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). The intent of ASU 2024-03 is to improve financial statement disclosures regarding information about certain costs and expenses. Specifically, ASU 2024-03 requires the disaggregation of significant expenses within the income statement expense line items, including, but not limited to, purchases of inventory, employee compensation, depreciation, intangible asset amortization, and selling expenses, among others, as well as a qualitative description of the remaining amounts not separately disaggregated quantitatively. ASU 2024-03 is effective for annual fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments under ASU 2024-03 should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its consolidated financial statements and disclosures. In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”), which clarifies the applicability of the interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with U.S. GAAP. The amendment does not intend to change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements but rather provides clarity and improves navigability of the existing interim reporting requirements. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. The amendments under ASU 2025-11 should be applied on a prospective basis, although retrospective application is permitted. The Company is currently evaluating the potential impact of ASU 2025-11 on its interim consolidated financial statements and disclosures.
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Inventories |
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| Inventories | Note 3—Inventories Inventories consist of:
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| Debt | Note 4—Debt The Company’s debt (net of any unamortized discount) consists of the following:
Revolving Credit Facility The Company has an amended and restated $3,000.0 unsecured revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility matures in March 2029 and gives the Company and certain of its subsidiaries the ability to borrow, in various currencies, at a spread that varies, based on the Company’s debt rating, over certain currency-specific benchmark rates, which benchmark rates, in the case of U.S. dollar borrowings, are either the base rate or the adjusted term Secured Overnight Financing Rate (“SOFR”). The Company may utilize the Revolving Credit Facility for general corporate purposes. As of March 31, 2026 and December 31, 2025, there were no outstanding borrowings under the Revolving Credit Facility. The carrying value of any borrowings under the Revolving Credit Facility would approximate their fair value, primarily due to their market interest rates, and would be classified as Level 2 in the fair value hierarchy (Note 5). Any outstanding borrowings under the Revolving Credit Facility are classified as long-term debt in the accompanying Condensed Consolidated Balance Sheets. The Revolving Credit Facility requires payment of certain annual agency and commitment fees and requires that the Company satisfy certain financial covenants. On March 31, 2026, the Company was in compliance with the financial covenants under the Revolving Credit Facility. Commercial Paper Programs The Company has a commercial paper program (the “U.S. Commercial Paper Program”) pursuant to which the Company may issue short-term unsecured commercial paper notes (the “USCP Notes” or “U.S. Commercial Paper”) in one or more private placements in the United States. The maturities of the USCP Notes vary but may not exceed 397 days from the date of issue. The USCP Notes are sold under customary terms in the commercial paper market and may be issued at par or a discount therefrom, and bear varying interest rates on a fixed or floating basis. As of March 31, 2026, the maximum aggregate principal amount outstanding of USCP Notes at any time is $3,000.0. The Company utilizes borrowings under the U.S. Commercial Paper Program for general corporate purposes, which, in recent years, have included fully or partially funding acquisitions, as well as repaying certain outstanding senior notes. The Company borrowed under the U.S. Commercial Paper Program throughout much of the first quarter of 2026, the proceeds of which were used for general corporate purposes. Before the end of the first quarter of 2026, the Company repaid all of its USCP Notes outstanding using cash on hand. As of March 31, 2026 and December 31, 2025, there were no USCP Notes outstanding. The Company and one of its wholly owned European subsidiaries (the “Euro Issuer”) also have a commercial paper program (the “Euro Commercial Paper Program” and, together with the U.S. Commercial Paper Program, the “Commercial Paper Programs”), pursuant to which the Euro Issuer may issue short-term unsecured commercial paper notes (the “ECP Notes” and, together with the USCP Notes, the “Commercial Paper”), which are guaranteed by the Company and are to be issued outside of the United States. The maturities of the ECP Notes will vary but may not exceed 183 days from the date of issue. The ECP Notes are sold under customary terms in the commercial paper market and may be issued at par or a discount therefrom or a premium thereto and bear varying interest rates on a fixed or floating basis. The ECP Notes may be issued in Euros, Sterling, U.S. dollars or other currencies. The maximum aggregate principal amount outstanding of ECP Notes at any time is $2,000.0. The Company utilizes borrowings under the Euro Commercial Paper Program for general corporate purposes, which may include, for example, fully or partially funding acquisitions. The Company did not borrow under the Euro Commercial Paper Program during the first quarter of 2026, and, as of March 31, 2026 and December 31, 2025, there were no ECP Notes outstanding. Amounts available under the Commercial Paper Programs may be borrowed, repaid and re-borrowed from time to time. In conjunction with the Revolving Credit Facility, as of March 31, 2026, the authorization from our Board of Directors (the “Board”) limits the maximum aggregate principal amount outstanding of USCP Notes, ECP Notes, and any other commercial paper or similar programs, along with outstanding amounts under the Revolving Credit Facility, at any time to $3,000.0 in the aggregate. The Commercial Paper Programs are rated A-2 by Standard & Poor’s and P-2 by Moody’s and, based on the Board’s authorization described above, are currently backstopped by the Revolving Credit Facility, as amounts undrawn under the Revolving Credit Facility are available to repay Commercial Paper, if necessary. Net proceeds of the issuances of Commercial Paper are expected to be used for general corporate purposes. Any outstanding Commercial Paper is classified as long-term debt in the accompanying Condensed Consolidated Balance Sheets since the Company has the intent and ability to refinance the Commercial Paper on a long-term basis using the Company’s Revolving Credit Facility. The carrying value of Commercial Paper approximates its fair value, primarily due to its market interest rates, and is classified as Level 2 in the fair value hierarchy (Note 5). Delayed Draw Term Loans On August 22, 2025, the Company entered into (i) a three-year, $2,000.0 unsecured delayed draw term loan credit agreement among the Company, certain subsidiaries of the Company, a syndicate of financial institutions, and JPMorgan Chase Bank, N.A., acting as the administrative agent (the “Three-Year Delayed Draw Term Loan”), which is scheduled to mature on the three-year anniversary of the funding date, and (ii) a 364-day, $2,000.0 unsecured delayed draw term loan credit agreement among the Company, certain subsidiaries of the Company, a syndicate of financial institutions and JPMorgan Chase Bank, N.A., acting as the administrative agent (the “364-Day Delayed Draw Term Loan” and, together with the Three-Year Delayed Draw Term Loan, the “Delayed Draw Term Loans,” and individually, a “Delayed Draw Term Loan”), which is scheduled to mature on the date that is 364 days after the funding date. Each Delayed Draw Term Loan may only be drawn in a single drawing over the life of the applicable facility. Each Delayed Draw Term Loan may be repaid at any time without premium or penalty and, once repaid, cannot be reborrowed. Interest rates under each Delayed Draw Term Loan are based on a spread over either the base rate or the adjusted term SOFR, which spread varies based on the Company’s debt rating. The carrying value of any borrowings under each Delayed Draw Term Loan approximates their fair value, primarily due to their market interest rates, and are classified as Level 2 in the fair value hierarchy (Note 5). On November 13, 2025, the aggregate commitment amount in respect of each of the Delayed Draw Term Loans was to $1,534.1, and as of December 31, 2025, the Company had not yet drawn upon either Delayed Draw Term Loan. On January 9, 2026, the Company the full $1,534.1 available under each of the Delayed Draw Term Loans to fund a portion of the consideration for the acquisition of CommScope’s Connectivity and Cable Solutions Business (“CommScope”), which closed on January 9, 2026, as discussed further in Note 11 herein. In accordance with the credit agreements, the borrowings under the Delayed Draw Term Loan and the Three-Year Delayed Draw Term Loan will mature on January 8, 2027 and January 9, 2029, respectively. Interest rates on each Delayed Draw Term Loan were based on a spread over the adjusted term SOFR based on the Company’s debt rating, and as of March 31, 2026, the effective interest rates were approximately 4.42% and 4.54% for the 364-Day Delayed Draw Term Loan and the Three-Year Delayed Draw Term Loan, respectively. The Delayed Draw Term Loans required payment of certain commitment fees prior to the funding thereunder and require that the Company satisfy certain financial covenants, which financial covenants are the same as those under the Revolving Credit Facility. On March 31, 2026, the Company was in compliance with the financial covenants under each Delayed Draw Term Loan. U.S. Senior Notes On March 30, 2026, the Company used cash on hand to repay the $350.0 aggregate principal amount of unsecured 4.750% Senior Notes due March 30, 2026 upon maturity. On March 3, 2025, the Company used a combination of cash on hand and borrowings under the U.S. Commercial Paper Program to repay the $400.0 aggregate principal amount of unsecured 2.050% Senior Notes due March 1, 2025 upon maturity. On June 12, 2025, the Company issued $750.0 aggregate principal amount of unsecured 4.375% Senior Notes due June 12, 2028 (the “2028 Senior Notes”). Interest on the 2028 Senior Notes is payable semiannually on June 12 and December 12 of each year, which commenced on December 12, 2025. The Company used net proceeds from the 2028 Senior Notes to repay borrowings under the U.S. Commercial Paper Program and for general corporate purposes. On November 10, 2025, the Company issued (i) $500.0 aggregate principal amount of unsecured Floating Rate Senior Notes due November 15, 2027 (the “Floating Rate Senior Notes”), (ii) $750.0 aggregate principal amount of unsecured 3.800% Senior Notes due November 15, 2027 (the “3.800% Senior Notes”), (iii) $750.0 aggregate principal amount of unsecured 3.900% Senior Notes due November 15, 2028 (the “3.900% Senior Notes”), (iv) $1,000.0 aggregate principal amount of unsecured 4.125% Senior Notes due November 15, 2030 (the “4.125% Senior Notes”), (v) $1,250.0 aggregate principal amount of unsecured 4.400% Senior Notes due February 15, 2033 (the “4.400% Senior Notes”), (vi) $1,600.0 aggregate principal amount of unsecured 4.625% Senior Notes due February 15, 2036 (the “4.625% Senior Notes”) and (vii) $1,650.0 aggregate principal amount of unsecured 5.300% Senior Notes due November 15, 2055 (the “5.300% Senior Notes” and, together with the Floating Rate Senior Notes, the 3.800% Senior Notes, the 3.900% Senior Notes, the 4.125% Senior Notes, the 4.400% Senior Notes and the 4.625% Senior Notes, the “November Senior Notes”). The Floating Rate Senior Notes bear interest at a floating rate per annum, reset quarterly, equal to Compounded , plus 0.53%. Interest on the Floating Rate Senior Notes is payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, which commenced on February 15, 2026. Interest on the 3.800% Senior Notes, 3.900% Senior Notes, 4.125% Senior Notes and 5.300% Senior Notes is payable semiannually on May 15 and November 15 of each year, commencing on May 15, 2026. Interest on the 4.400% Senior Notes and 4.625% Senior Notes is payable semiannually on February 15 and August 15 of each year, which commenced on February 15, 2026. On January 9, 2026, the Company used the net proceeds from the November Senior Notes, together with borrowings under the Delayed Draw Term Loans and cash on hand, to fund the cash consideration for the CommScope acquisition, along with fees and expenses related thereto, as discussed further in Note 11 herein. All of the Company’s outstanding senior notes in the United States (the “U.S. Senior Notes”) are unsecured and rank equally in right of payment with all of the Company’s other senior unsecured and unsubordinated indebtedness, including the Company’s guarantee of the Euro Issuer’s obligations under the Existing Euro Notes. Interest on each series of U.S. Senior Notes is payable semiannually, except for the Floating Rate Senior Notes for which interest is payable quarterly. The Company may, at its option, redeem some or all of any series of U.S. Senior Notes at any time, subject to certain terms and conditions, which include paying 100% of the principal amount, plus accrued and unpaid interest, if any, to, but not including, the date of redemption, and, with certain exceptions, a make-whole premium, except that the Company may not redeem the Floating Rate Senior Notes at its option prior to their maturity. Euro Senior Notes On March 30, 2026, the Euro Issuer issued €500.0 (approximately $586.7 at date of issuance) aggregate principal amount of unsecured 3.625% Senior Notes due March 30, 2031 (the “2031 Euro Notes”). The 2031 Euro Notes are unsecured and rank equally in right of payment with all of the Euro Issuer’s other unsecured and unsubordinated indebtedness, including the Company’s guarantee of the Euro Issuer’s obligations under the Existing Euro Notes and the 2032 Euro Notes (each as defined below). Interest on the 2031 Euro Notes is payable annually on March 30 of each year, commencing on March 30, 2027. The Company intends to use the proceeds to repay the 0.750% Euro Senior Notes due May 4, 2026 at maturity and for general corporate purposes. On June 16, 2025, the Company issued €600.0 (approximately $685.9 at date of issuance) aggregate principal amount of unsecured 3.125% Senior Notes due June 16, 2032 (the “2032 Euro Notes”). The 2032 Euro Notes are unsecured and rank equally in right of payment with all of the Company’s other senior unsecured and unsubordinated indebtedness, including the Company’s guarantee of the Euro Issuer’s obligations under the Existing Euro Notes (defined below) and the 2031 Euro Notes. Interest on the 2032 Euro Notes is payable annually on June 16 of each year, commencing on June 16, 2026. The Company used net proceeds from the 2032 Euro Notes to repay borrowings under the U.S. Commercial Paper Program and for general corporate purposes. The Euro Issuer has two additional outstanding unsecured senior notes issued in Europe (the “Existing Euro Notes” together with the 2031 Euro Notes and the 2032 Euro Notes, the “Euro Notes” and, the Euro Notes together with the U.S. Senior Notes, the “Senior Notes”), each of which was issued with an aggregate principal amount of €500.0. The 0.750% Euro Senior Notes, which were issued in May 2020, mature on May 4, 2026, while the 2.000% , which were issued in October 2018, mature on October 8, 2028. The Existing Euro Notes are unsecured and rank equally in right of payment with all of the Euro Issuer’s senior unsecured and unsubordinated indebtedness and are fully and unconditionally guaranteed on a senior unsecured basis by the Company. Interest on each series of Existing Euro Notes is payable annually. The Company may, at its option, redeem some or all of either series of Existing Euro Notes at any time, subject to certain terms and conditions, which include paying 100% of the principal amount, plus accrued and unpaid interest, if any, to, but not including, the date of redemption, and, with certain exceptions, a make-whole premium. The fair value of each series of Senior Notes is based on recent bid prices in an active market and is therefore classified as Level 1 in the fair value hierarchy (Note 5). The Senior Notes impose certain obligations on the Company and prohibit various actions by the Company unless it satisfies certain financial requirements. |
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Fair Value Measurements |
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| Fair Value Measurements | Note 5—Fair Value Measurements Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. These requirements establish market or observable inputs as the preferred source of values. Assumptions based on hypothetical transactions are used in the absence of market inputs. The Company does not have any non-financial instruments accounted for at fair value on a recurring basis. The valuation techniques required are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: Level 1 Quoted prices for identical instruments in active markets. Level 2 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 Significant inputs to the valuation model are unobservable. The Company believes that the assets and liabilities currently subject to such standards with fair value disclosure requirements are primarily (i) debt instruments, (ii) pension plan assets, and (iii) assets acquired and liabilities and noncontrolling interests assumed as part of acquisition accounting, which are discussed in Note 4, Note 10 and Note 11, respectively, herein, in addition to the Notes to Consolidated Financial Statements in the 2025 Annual Report, along with short- and long-term investments and derivative instruments, discussed below. Substantially all of the Company’s short- and long-term investments consist of certificates of deposit, which are considered as Level 2 in the fair value hierarchy. Long-term investments are recorded in Other long-term assets in the accompanying Condensed Consolidated Balance Sheets. The carrying amounts of these short- and long-term instruments, the vast majority of which are in non-U.S. bank accounts, approximate their respective fair values. The Company’s derivative instruments primarily consist of foreign exchange forward contracts, which are valued using bank quotations based on market observable inputs, such as forward and spot rates, and are therefore classified as Level 2 in the fair value hierarchy. The impact of the credit risk related to these derivative financial assets is immaterial. The Company reviews the fair value hierarchy classifications on a quarterly basis and determines the appropriate classification of such assets and liabilities subject to the fair value hierarchy standards based on, among other things, the ability to observe valuation inputs. The fair values of the Company’s financial and non-financial assets and liabilities subject to such standards as of March 31, 2026 and December 31, 2025 are as follows:
The Company utilizes foreign exchange forward contracts, some of which are designated as hedging instruments accounted for as cash flow hedges, in the management of foreign currency exposures. In addition, the Company also enters into foreign exchange forward contracts, which are accounted for as net investment hedges, to hedge our exposure to variability in the U.S. dollar equivalent of the net investments in certain foreign subsidiaries. As of March 31, 2026, the fair value of such foreign exchange forward contracts in the table above consisted of (i) various outstanding foreign exchange forward contracts accounted for as net investment hedges and (ii) various outstanding foreign exchange forward contracts that are not designated as hedging instruments. As of December 31, 2025, the Company had no outstanding foreign exchange forward contracts accounted for as either net investment hedges or cash flow . However, in June 2025, the Company issued the 2032 Euro Notes as discussed in Note 4, which have been designated as a hedge of the Company’s net investment in certain foreign subsidiaries. The effect of translating the 2032 Euro Notes into U.S. Dollars is recorded in Accumulated other comprehensive income (loss) and remains there until the underlying net investment is sold or substantially liquidated. We assessed the effectiveness of the net investment hedges at the inception of the hedging relationship and will assess quarterly thereafter. As of March 31, 2026, the net investment hedges were assessed and deemed to be effective. During the three months ended March 31, 2026 and 2025, the amounts recognized in Accumulated other comprehensive income (loss) associated with foreign exchange forward contracts, as well as the amounts reclassified from Accumulated other comprehensive income (loss) to foreign exchange gain (loss), included in Cost of sales in the accompanying Condensed Consolidated Statements of Income, were not material. In August 2025, the Company entered into $1,500.0 10-year and $1,000.0 30-year notional treasury lock derivative instruments to hedge interest rate risk prior to the issuance of the November Senior Notes, as discussed in Note 4 herein. Both treasury locks were designated as cash flow hedges. The treasury locks were settled in the fourth quarter of 2025 upon the issuance of the 4.625% Senior Notes and the 5.300% Senior Notes, respectively, for a cumulative loss of $88.0 ($67.4 after-tax). The cumulative after-tax loss was recorded in Accumulated other comprehensive income (loss) and is being amortized to Interest expense over the terms of the 4.625% Senior Notes and the 5.300% Senior Notes, respectively. The fair values of the Company’s forward contracts are recorded within Prepaid expenses and other current assets, Other long-term assets, Other accrued expenses and Other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets, depending on their value and remaining contractual period. Certain acquisitions may result in noncontrolling interest holders who, in certain cases, are entitled to a put option, giving them the ability to put some or all of their redeemable interest in the shares of the acquiree to the Company. Specifically, if exercised by the noncontrolling interest holder, Amphenol would be required to purchase some or all of the option holder’s redeemable interest, at a redemption price during specified time period(s) stipulated in the respective acquisition agreement. The redeemable noncontrolling interests recorded on the accompanying Condensed Consolidated Balance Sheets relate to recent acquisitions, which, based on the terms of the respective acquisition agreements, will remain in temporary equity until the applicable put option is either fully exercised or expires. When noncontrolling option holders exercise their put options, the Company is required to acquire their entire redeemable noncontrolling interests, or portions thereof, then outstanding. The redemption value of the redeemable noncontrolling interests is generally calculated using Level 3 unobservable inputs based on a multiple of earnings, which, for the redeemable noncontrolling interests currently outstanding, approximate fair value. As such, the redemption value is classified as Level 3 in the fair value hierarchy and is recorded as Redeemable noncontrolling interests on the Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025. Refer to Note 7 herein for a rollforward of the Redeemable noncontrolling interests for the three months ended March 31, 2026 and 2025. With the exception of the fair value of the assets acquired and liabilities assumed in connection with acquisition accounting, the Company does not have any other significant financial or non-financial assets and liabilities that are measured at fair value on a non-recurring basis. |
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Income Taxes |
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| Income Taxes | Note 6—Income Taxes
For the three months ended March 31, 2026 and 2025, stock option exercise activity had the impact of decreasing our Provision for income taxes by $50.9 and $20.1, respectively, and decreasing our effective tax rate by approximately 310 basis points and 210 basis points, respectively, due to the recognition of excess tax benefits within Provision for income taxes in the accompanying Condensed Consolidated Statements of Income. Acquisition-related expenses, as discussed in further detail in Note 11 herein, had the aggregate impact of increasing our effective tax rate by approximately 120 basis points and 30 basis points for the three months ended March 31, 2026 and 2025, respectively. In addition, for the three months ended March 31, 2026, the Company recorded an accrual of $130.0 resulting from unfavorable determinations received from relevant tax authorities in China regarding the previously disclosed tax inquiries into certain of the Company’s prior period tax positions, as well as $160.0 in additional tax obligations related to China resulting from the Company’s reassessment of certain tax rate assumptions applied to prior years’ results not subject to the tax inquiries as further discussed below. These accruals had the effect of increasing our effective tax rate by approximately 1,760 basis points. The Company operates in the U.S. and numerous foreign taxable jurisdictions, and at any point in time has numerous audits underway at various stages of completion. With few exceptions, the Company is subject to income tax examinations by tax authorities for the years 2017 and after. The Company is generally not able to precisely estimate the ultimate settlement amounts or timing until the close of an audit. The Company evaluates its tax positions and establishes liabilities for uncertain tax positions that may be challenged by tax authorities and may not be fully sustained, despite the Company’s belief that the underlying tax positions are fully supportable. As of March 31, 2026, the amount of unrecognized tax benefits, including penalties and interest, which if recognized would impact the effective tax rate, was approximately $571.5. Unrecognized tax benefits are reviewed on an ongoing basis and are adjusted for changing facts and circumstances, including the progress of tax audits and the closing of statutes of limitations. Based on information currently available, management anticipates that over the next 12-month period, audit activity could be completed and statutes of limitations may close relating to existing unrecognized tax benefits of approximately $239.5. In connection with the previously disclosed tax matter in China, the Company received unfavorable determinations from the relevant tax authorities regarding certain of the Company’s prior period tax positions. As a result of these unfavorable determinations, the Company received tax payment notices totaling $230.0. To fully accrue for this amount, the Company recorded an accrual of $130.0 during the three months ended March 31, 2026, which was in addition to the accrual of $100.0 recorded in the three months ended December 31, 2025. In addition, the recent developments of the China tax matter also resulted in the Company reassessing certain tax rate assumptions applied to prior years’ results not subject to the China tax inquiries. This reassessment resulted in the Company recording $160.0 of additional tax obligations in the three months ended March 31, 2026. Inflation Reduction Act of 2022 On August 16, 2022, the Inflation Reduction Act of 2022 (the “IRA”), a tax and spending package that introduced several tax-related provisions, including a 15% corporate alternative minimum tax (“CAMT”) on certain large corporations and a 1% excise tax on certain corporate stock repurchases, was enacted into law. Companies were required to reassess their valuation allowances for certain affected deferred tax assets in the period of enactment but did not need to remeasure deferred tax balances for the related tax accounting implications of the CAMT. The IRA provisions, which became effective for Amphenol beginning on January 1, 2023, did not have a material impact on the Company during the three months ended March 31, 2026 and 2025. While the full impact of these provisions in the future depends on several factors, including interpretive regulatory guidance, which has not yet been released, the Company does not currently believe that the provisions of the IRA, including several other non-tax related provisions, will have a material impact on its financial condition, results of operations, liquidity and cash flows. H.R. 1 On July 4, 2025, the United States federal government enacted the tax and spending bill H.R. 1. This legislation contains changes to previously enacted provisions of the Internal Revenue Code and provides for extensions of certain expiring tax provisions included in the Tax Cuts and Jobs Act. Certain corporate tax provisions in H.R. 1 were enacted with retroactive effect to January 1, 2025. H.R. 1 did not have a material impact on our effective tax rate for the three months ended March 31, 2026. The Company continues to evaluate the corporate tax provisions contained within H.R. 1, and the future impact of H.R. 1 depends on several factors, including interpretive regulatory guidance, which has not yet been released. |
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Stockholders' Equity and Noncontrolling Interests |
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| Stockholders' Equity and Noncontrolling Interests | Note 7—Stockholders’ Equity and Noncontrolling Interests Net income attributable to noncontrolling interests is classified below net income. Earnings per share is determined after the impact of the noncontrolling interests’ share in net income of the Company. In addition, the equity attributable to noncontrolling interests is presented as a separate caption within equity. A rollforward of consolidated changes in equity and redeemable noncontrolling interests for the three months ended March 31, 2026 is as follows:
A rollforward of consolidated changes in equity and redeemable noncontrolling interests for the three months ended March 31, 2025 is as follows:
Stock Repurchase Programs On April 23, 2024, the Board authorized a stock repurchase program under which the Company may purchase up to $2,000.0 of its Common Stock during the three-year period ending on the close of business on April 28, 2027 (the “2024 Stock Repurchase Program”). The 2024 Stock Repurchase Program became effective on April 29, 2024. During the three months ended March 31, 2026, the Company repurchased 1.3 million shares of its Common Stock for $178.0 under the 2024 Stock Repurchase Program. All of the repurchased shares under the 2024 Stock Repurchase Program during the three months ended March 31, 2026 were retained in Treasury stock at the time of repurchase. From April 1, 2026 to April 28, 2026, the Company repurchased 0.3 million additional shares of its Common Stock for $44.2, and, as of April 29, 2026, the Company has remaining authorization to purchase up to $648.8 of its Common Stock under the 2024 Stock Repurchase Program. The timing and amount of any future repurchases will depend on a number of factors, such as the levels of cash generation from operations, the volume of stock options exercised by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Common Stock. Dividends Contingent upon declaration by the Board, the Company pays a quarterly dividend on shares of its Common Stock. On October 21, 2025, the Board approved an increase to the Company’s quarterly dividend rate from $0.165 per share to $0.25 per share, effective with dividends declared in the fourth quarter of 2025, contingent upon declaration by the Board. The following table summarizes the dividends declared and paid during the three months ended March 31, 2026 and 2025:
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Stock-Based Compensation |
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| Stock-Based Compensation | Note 8—Stock-Based Compensation For the three months ended March 31, 2026 and 2025, the Company’s Income before income taxes was reduced by stock-based compensation expense of $34.2 and $26.6, respectively. In addition, for the three months ended March 31, 2026 and 2025, the Company recognized aggregate income tax benefits (associated with stock-based compensation) of $54.7 and $23.0, respectively, in Provision for income taxes in the accompanying Condensed Consolidated Statements of Income. These aggregate income tax benefits during the three months ended March 31, 2026 and 2025 include excess tax benefits of $50.9 and $20.1, respectively, from option exercises. The impact associated with recognizing excess tax benefits from option exercises in the provision for income taxes on our consolidated financial statements could result in significant fluctuations in our effective tax rate in the future, since the provision for income taxes will be impacted by the timing and intrinsic value of future stock-based compensation award exercises. Stock-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ or are expected to differ from such estimates. Changes in estimated forfeitures are recognized in the period of change and impact the amount of expense to be recognized in future periods. The expense incurred for stock-based compensation plans is included in Selling, general and administrative expenses in the accompanying Condensed Consolidated Statements of Income. Stock Options In May 2017, the Company adopted the 2017 Stock Purchase and Option Plan for Key Employees of Amphenol and Subsidiaries (the “2017 Employee Option Plan”), which provided for the issuance of 120,000,000 shares. In March 2021, the Board authorized and approved the Amended and Restated 2017 Stock Purchase and Option Plan for Key Employees of Amphenol and Subsidiaries (the “Amended 2017 Employee Option Plan” and, together with the 2017 Employee Option Plan, the “2017 Option Plan”), which among other things, increased the number of shares reserved for issuance under the plan by 80,000,000 shares. The Amended 2017 Employee Option Plan was approved by the Company’s stockholders and became effective on May 19, 2021. As of March 31, 2026, there were 47,400,531 shares of Common Stock available for the granting of additional stock options under the 2017 Option Plan. Prior to the approval of the 2017 Employee Option Plan, the Company issued stock options under the 2009 Stock Purchase and Option Plan for Key Employees of Amphenol and Subsidiaries, and its amendment (the “2009 Employee Option Plan”). No additional stock options will be granted under the 2009 Employee Option Plan. Options granted under the Option Plan and the Employee Option Plan generally vest ratably over a period of five years from the date of grant and are generally exercisable over a period of 10 years from the date of grant. Stock option activity for the three months ended March 31, 2026 was as follows:
A summary of the status of the Company’s non-vested options as of March 31, 2026 and changes during the three months then ended is as follows:
During the three months ended March 31, 2026 and 2025, the following activity occurred under the Company’s option plans:
As of March 31, 2026, the total compensation cost related to non-vested options not yet recognized was approximately $324.4 with a weighted average expected amortization period of 3.28 years. The grant-date fair value of each option grant under the 2009 Employee Option Plan and the 2017 Option Plan is estimated using the Black-Scholes option pricing model. The grant-date fair value of each share grant is determined based on the closing share price of the Company’s Common Stock on the date of the grant. The fair value is then amortized on a straight-line basis over the requisite service period of the awards, which is generally the vesting period. Use of a valuation model for option grants requires management to make certain assumptions with respect to selected model inputs. Expected share price volatility is calculated based on the historical volatility of the Common Stock and implied volatility derived from related exchange traded options. The average expected life is based on the contractual term of the option and expected exercise and historical experience. The risk-free interest rate is based on U.S. Treasury zero-coupon issuances with a remaining term equal to the expected life assumed at the date of grant. The expected annual dividend per share is based on the Company’s dividend rate. Restricted Stock On May 16, 2024, the Company’s stockholders approved the 2024 Restricted Stock Plan for Directors of Amphenol Corporation (the “2024 Directors Restricted Stock Plan”), which is administered by the Compensation Committee of the Board and reserves 500,000 shares of the Company’s Common Stock for future issuance pursuant to the plan. As of March 31, 2026, the number of restricted shares available for grant under the 2024 Directors Restricted Stock Plan was 461,092. Restricted shares granted under the 2024 Directors Restricted Stock Plan vest on the earlier of the first anniversary of the date of grant or the day immediately prior to the date of the next regular annual meeting of the Company’s stockholders following such date of grant. Grants under the 2024 Directors Restricted Stock Plan entitle the holder to receive shares of the Company’s Common Stock without payment. The 2024 Directors Restricted Stock Plan will expire on May 15, 2034, after which date no awards may be granted under the plan. Restricted share activity for the three months ended March 31, 2026 was as follows:
As of March 31, 2026, the total compensation cost related to non-vested restricted shares not yet recognized was approximately $0.2. |
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Earnings Per Share |
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| Earnings Per Share | Note 9—Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income attributable to Amphenol Corporation by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing net income attributable to Amphenol Corporation by the weighted average number of outstanding common shares, including dilutive common shares, the dilutive effect of which relates to stock options. The following is a reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding, which were used to calculate the earnings per share (basic and diluted) for the three months ended March 31, 2026 and 2025:
There were no anti-dilutive common shares excluded from the computation above for the three months ended March 31, 2026. Excluded from the computation above were anti-dilutive common shares (primarily related to outstanding stock options) of 8.2 million for the three months ended March 31, 2025. |
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Benefit Plans and Other Postretirement Benefits |
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| Benefit Plans and Other Postretirement Benefits | Note 10—Benefit Plans and Other Postretirement Benefits The Company and certain of its domestic subsidiaries have defined benefit pension plans (the “U.S. Pension Plans”), which cover certain U.S. employees and which represent the majority of the plan assets and benefit obligations of the aggregate defined benefit plans of the Company. The U.S. Pension Plans’ benefits are generally based on years of service and compensation and are generally noncontributory. The majority of U.S. employees are not covered by the U.S. Pension Plans and are instead covered by various defined contribution plans. The Company also has an unfunded Supplemental Employee Retirement Plan (“SERP” and, together with the U.S. Pension Plans, “U.S. Plans”), which provides for the payment of the portion of annual pension that cannot be paid from the retirement plan as a result of regulatory limitations on average compensation for purposes of the benefit computation. Certain foreign subsidiaries have defined benefit plans covering their employees (the “Foreign Plans” and, together with the U.S. Plans, the “Plans”). The following is a summary, based on the most recent actuarial valuations, of the components of the Company’s net pension expense of the Company’s defined benefit plans for the three months ended March 31, 2026 and 2025:
There is no current requirement for cash contributions to any of the U.S. Plans, and the Company plans to evaluate annually, based on actuarial calculations and the investment performance of the Plans’ assets, the timing and amount of cash contributions in the future, if any. The Company offers various defined contribution plans for certain U.S. and foreign employees. Participation in these plans is based on certain eligibility requirements. The Company matches employee contributions to the U.S. defined contribution plans up to a maximum of 7% of eligible compensation. During the three months ended March 31, 2026 and 2025, the Company provided matching contributions to the U.S. defined contribution plans of approximately $14.3 and $10.6, respectively. |
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| Acquisitions | Note 11—Acquisitions 2026 Acquisitions On January 9, 2026, the Company completed the acquisition of the Connectivity and Cable Solutions business (which we now refer to collectively as “CommScope”) of Vistance Networks, Inc. (“Vistance,” formerly known as CommScope Holding Company, Inc.) for an aggregate purchase price of $10,592.9 in cash, subject to customary post-closing adjustments. CommScope is included in the Communications Solutions segment. The CommScope acquisition was funded through a combination of net proceeds from the Delayed Draw Term Loans, the November Senior Notes and cash on hand, as discussed in Note 4 herein. CommScope adds significant fiber optic interconnect capabilities for the IT datacom and communications networks markets, as well as a diverse range of industrial interconnect products for the building infrastructure connectivity market. The accompanying Condensed Consolidated Statements of Income include the results of CommScope for the period from the acquisition date through March 31, 2026. Net sales and Net loss from CommScope during this period were $871.5 and $9.0, respectively. The Net loss excludes interest expense and external transaction costs related to the acquisition and includes $155.5 ($119.1 after-tax) of non-cash amortization related to the value associated with acquired backlog and acquisition-related inventory step-up discussed below. Acquisition-related expenses During the three months ended March 31, 2026, the Company incurred a total of $248.9 ($200.6 after-tax, or $0.16 per diluted share) of acquisition-related expenses, comprised primarily of (i) the non-cash amortization related to the value associated with acquired backlog resulting from the CommScope and Trexon acquisitions and external transaction costs related to acquisitions (such acquisition-related expenses aggregating $116.9, of which $90.3 relates to the CommScope acquisition, are presented separately in the Condensed Consolidated Statements of Income) and (ii) the non-cash amortization of acquisition-related inventory step-up costs of $132.0 associated with the CommScope acquisition (such costs are recorded in Cost of sales in the Condensed Consolidated Statements of Income). Preliminary Allocation of Purchase Price The purchase price for the CommScope acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed of CommScope based upon their estimated fair values. The excess purchase price over the fair value of the underlying net assets acquired was allocated to goodwill, which primarily represents the value of assembled workforce along with anticipated cost savings and efficiencies associated with the integration of CommScope and other intangible assets acquired that do not qualify for separate recognition. The Company is in the process of completing its analysis of the fair value of the net assets acquired through the use of independent valuations and management’s estimates. Since the following information is based on preliminary assessments made by management as of March 31, 2026, the acquisition accounting for CommScope is subject to final adjustment and it is possible that the final assessment of values may differ from this preliminary assessment. The following table summarizes the preliminary assessment of the estimated fair values of the identifiable assets acquired and liabilities assumed, as of the date of acquisition of January 9, 2026.
The $3,306.0 of acquired intangible assets is comprised of $1,456.0, $1,211.0, $592.0 and $47.0 assigned to proprietary technology, customer relationships, trade names and backlog, respectively, all of which are subject to amortization. These finite-lived acquired intangible assets have a total weighted average useful life of approximately 16 years. The proprietary technology, customer relationships, trade names and backlog have a weighted average useful life of 14 years, 16 years, 22 years and 0.5 years, respectively. These finite-lived intangible assets will be amortized based upon the underlying pattern of economic benefit as reflected by the future net cash inflows. The entire amount of goodwill was assigned to the Communications Solutions segment, none of which is expected to be deductible for tax purposes. Pro Forma Financial Information The following table summarizes the unaudited pro forma combined financial information assuming that the CommScope acquisition had occurred on January 1, 2025, and its results had been included in our financial results for the full three months ended March 31, 2026 and 2025. The pro forma amounts are based upon available information and reflect a reasonable estimate of the effects of the CommScope acquisition for the periods presented on the basis set forth herein. The following unaudited pro forma financial information is presented for informational purposes only and does not purport to represent what the results of operations would have been had the CommScope acquisition in fact occurred on the date assumed, nor is it necessarily indicative of the results that may be expected in future periods.
The unaudited pro forma financial information includes the historical operating results of the Company and CommScope prior to the acquisition, with directly attributable adjustments to reflect the additional depreciation and amortization, the associated incurrence of interest expense and interest income earned, acquisition-related costs and the consequential tax effects from January 1, 2025. The unaudited pro forma financial information for the three months ended March 31, 2026 was adjusted to remove $222.3 ($181.0 after-tax, or $0.14 per diluted share) of nonrecurring acquisition-related expenses resulting from the CommScope acquisition, comprised of (i) $66.8 in transaction expenses, (ii) $132.0 related to amortization of inventory step-up costs, and (iii) $23.5 of amortization related to the value associated with acquired backlog. The unaudited pro forma financial information for the three months ended March 31, 2025 was adjusted to recognize $243.2 ($201.9 after-tax, or $0.16 per diluted share) of nonrecurring acquisition-related expenses resulting from the CommScope acquisition, comprised of (i) $87.7 in transaction expenses, (ii) $132.0 related to amortization of inventory step-up costs, and (iii) $23.5 of amortization related to the value associated with acquired backlog. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have been achieved had the CommScope acquisition been consummated as of the date indicated, nor indicative of any future results, including the realization of any synergies or cost savings. 2025 Acquisitions During the year ended December 31, 2025, the Company completed five acquisitions (collectively, the “2025 Acquisitions”), including (i) the acquisition of the Outdoor Wireless Networks segment and Distributed Antenna Systems business (collectively, “Andrew”) from Vistance and (ii) the acquisition of Trexon, for approximately $3,818.6, net of cash acquired. The Andrew acquisition is included in the segment, three acquisitions, including Trexon, are included in the Harsh Environment Solutions segment, and one acquisition is included in the Interconnect and Sensor Systems segment. The 2025 Acquisitions were each funded using cash on hand, proceeds from senior notes, borrowings under the U.S. Commercial Paper Program, or a combination thereof. As of March 31, 2026, the 2025 Acquisitions resulted in the recognition of $2,162.5 of goodwill and $1,203.0 of definite-lived intangible assets, comprised of customer relationships, proprietary technology and acquired backlog, with the remainder of the purchase price being allocated to other identifiable assets acquired and liabilities assumed. These definite-lived intangible assets are being amortized based upon the underlying pattern of economic benefit as reflected by the future net cash inflows, with the acquired customer relationships having useful lives ranging from 10 to 18 years, the proprietary technology having useful lives ranging from 10 to 15 years, and the acquired backlog having a useful life of approximately 0.4 years. The excess purchase price over the fair value of the underlying assets acquired (net of liabilities assumed) was allocated to goodwill, which primarily represents the value of the assembled workforce along with other intangible assets acquired that do not qualify for separate recognition. The Company expects that $672.8 of the goodwill recognized from the 2025 Acquisitions will be deductible for tax purposes. The Company completed the acquisition accounting, including the analyses of fair value of assets acquired and liabilities assumed, for two of the 2025 Acquisitions, including the Andrew acquisition, and the final assessment of values did not differ materially from the previous preliminary assessment. The Company is in the process of analyzing and completing the allocation of the fair value of the assets acquired and liabilities assumed for the other three 2025 Acquisitions. Since the current purchase price allocations for such acquisitions are based on preliminary assessments made by management, the acquisition accounting is subject to final adjustments, and it is possible that the final assessments of values may differ from the Company’s preliminary assessments. The operating results of the 2025 Acquisitions were included in the Condensed Consolidated Statements of Income since their respective dates of acquisition. Pro forma financial information, as well as further details regarding the purchase price allocations related to these acquisitions, have not been presented, since the 2025 Acquisitions were not material, either individually or in the aggregate, to the Company’s financial results. Acquisition-related expenses During the three months ended March 31, 2025, the Company incurred $104.9 ($82.1 after-tax, or $0.06 per diluted share) of acquisition-related expenses, comprised primarily of (i) the non-cash amortization related to the value associated with acquired backlog resulting from the Andrew acquisition and external transaction costs related to acquisitions (such acquisition-related expenses aggregating $44.0 are presented separately in the Condensed Consolidated Statements of Income) and (ii) the non-cash amortization of acquisition-related inventory step-up costs of $60.9 associated with the Andrew acquisition (such costs are recorded in Cost of sales in the Condensed Consolidated Statements of Income). |
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| Goodwill and Other Intangible Assets | Note 12—Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment were as follows:
The increase in goodwill during the first three months of 2026 was driven by goodwill recognized from the CommScope acquisition. Other than goodwill noted above, the Company’s intangible assets as of March 31, 2026 and December 31, 2025 were as follows:
(1) Certain prior period amounts have been reclassified to conform to the current period presentation. The increase in the gross carrying amount of intangible assets in the first three months of 2026 was primarily driven by certain customer relationships, proprietary technology, trade names and acquired backlog recognized as a result of the CommScope acquisition. Amortization expense for the three months ended March 31, 2026 and 2025 was approximately $145.6 and $47.3, respectively. Amortization expense for the three months ended March 31, 2026 includes $46.9 related to the amortization of acquired backlog resulting from the CommScope and Trexon acquisitions. Amortization expense for the three months ended March 31, 2025 includes $10.0 related to the amortization of acquired backlog resulting from the Andrew acquisition. Amortization expense relating to the Company’s current intangible assets as of March 31, 2026 estimated for the remainder of 2026 is approximately $318.6, and for each of the next five fiscal years is approximately $387.0 in 2027, $379.8 in 2028, $368.9 in 2029, $366.2 in 2030 and $359.7 in 2031. |
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| Reportable Business Segments | Note 13—Reportable Business Segments The Company organizes its reportable business segments based on the manner in which management evaluates the performance of the Company, combined with the nature of the individual business activities and the product-based solutions offered. The Company aligns its businesses into the following three reportable business segments: ●Communications Solutions – the Communications Solutions segment designs, manufactures and markets a broad range of connector and interconnect systems, including high speed, radio frequency, power, fiber optic and other interconnect products; coaxial, fiber optic and high-speed cable; antennas; and other products for use in the information technology and data communications, mobile devices, industrial, communications networks, automotive, commercial aerospace and defense end markets. ●Harsh Environment Solutions – the Harsh Environment Solutions segment designs, manufactures and markets a broad range of ruggedized interconnect products, including connectors and interconnect systems, specialty cable, printed circuits and printed circuit assemblies and other products for use in the industrial, defense, commercial aerospace, automotive, communications networks and information technology and data communications end markets. ●Interconnect and Sensor Systems – the Interconnect and Sensor Systems segment designs, manufactures and markets a broad range of sensors, sensor-based systems, connectors and value-add interconnect systems used in the automotive, industrial, information technology and data communications, communications networks, defense and commercial aerospace end markets. This segment structure reflects (i) the manner in which the Chief Operating Decision Maker (“CODM”), who is the Company’s Chief Executive Officer, regularly assesses information for decision-making purposes, including the allocation of resources, and (ii) how the Company operates its businesses, assesses performance, and communicates results and strategy, among other items, to the Board and its stockholders. The Company has three segment managers to lead their respective reportable business segments, each reporting directly to the Chief Executive Officer. The accounting policies of the segments are the same as those for the Company as a whole and are described herein and in Note 1 of the Notes to Consolidated Financial Statements in the 2025 Annual Report. The Company’s CODM assesses each segment’s performance and allocates resources to each of them based on net sales and operating income as adjusted for certain corporate and other related items and before interest, stock-based compensation expense, income taxes, amortization related to certain intangible assets and other non-cash purchase accounting costs, and nonrecurring gains and losses, as outlined in the table below (we refer to this measure as segment operating income). Intersegment net sales and operating expenses have been eliminated in the computation of consolidated net sales and operating income. The CODM considers period-to-period variances in net sales and segment operating income on a regular basis and uses that information when making decisions about the allocation of operating and capital resources to each segment. Other than segment operating expenses (which is easily computable from the difference between net sales and segment operating income), our CODM is not regularly provided disaggregated segment level expense information as such information is not used in our CODM’s decision-making related to the allocation of operating and capital resources to our segments. The Company also incurs general corporate expenses and costs which are not allocated to the reportable business segments but have been included in “Corporate / Other” in the following table for reconciliation purposes. Assets are reviewed by the CODM on a consolidated basis and therefore are not presented by reportable business segment. The following table (i) summarizes, by segment, total sales, intersegment sales and external net sales and (ii) reconciles each segment’s external net sales to their respective segment operating income, including segment operating expenses, for the three months ended March 31, 2026 and 2025:
_____________________________
Segment operating income and the reconciliation of segment operating income to consolidated income before income taxes for the three months ended March 31, 2026 and 2025 are as follows:
Depreciation and amortization expense by segment for the three months ended March 31, 2026 and 2025 is as follows:
For the three months ended March 31, 2026, depreciation and amortization expense in Corporate / Other includes (i) $46.9 related to the amortization of acquired backlog resulting from the CommScope and Trexon acquisitions, which is included in Acquisition-related expenses in the Condensed Consolidated Statements of Income, and (ii) $132.0 of amortization of acquisition-related inventory step-up costs associated with the CommScope acquisition, which is included in Cost of sales in the Condensed Consolidated Statements of Income, as discussed in Note 11 herein. For the three months ended March 31, 2025, depreciation and amortization expense in Corporate / Other includes (i) $10.0 related to the amortization of acquired backlog resulting from the Andrew acquisition, which is included in Acquisition-related expenses in the Condensed Consolidated Statements of Income, and (ii) $60.9 of amortization of acquisition-related inventory step-up costs associated with the Andrew acquisition, which is included in Cost of sales in the Condensed Consolidated Statements of Income, as discussed in Note 11 herein. These expenses are reported in Corporate / Other, since they are not components in the determination of segment operating income. |
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Revenue Recognition |
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| Revenue Recognition | Note 14—Revenue Recognition Revenues consist of product sales to either end customers and their appointed contract manufacturers (including original equipment manufacturers) or to distributors, and the vast majority of our sales are recognized at a point-in-time under the core principle of recognizing revenue when control transfers to the customer. With limited exceptions, the Company recognizes revenue at the point in time when we ship or deliver the product from our manufacturing facility to our customer, when our customer accepts and has legal title of the goods, and where the Company has a present right to payment for such goods. For the three months ended March 31, 2026 and 2025, less than 5% of our net sales were recognized over time, where the associated contracts relate to the sale of goods with no alternative use as they are only sold to a single customer and whose underlying contract terms provide the Company with an enforceable right to payment, including a reasonable profit margin, for performance completed to date, in the event of customer termination. Since we typically invoice our customers at the same time that we satisfy our performance obligations, contract assets and contract liabilities related to our contracts with customers recorded in the Condensed Consolidated Balance Sheets were not material as of March 31, 2026 and December 31, 2025. These amounts are recorded in the accompanying Condensed Consolidated Balance Sheets within Prepaid expenses and other current assets or Other accrued expenses as of March 31, 2026 and December 31, 2025. The Company receives customer orders negotiated with multiple delivery dates that may extend across more than one reporting period until the contract is fulfilled, the end of the order period is reached, or a pre-determined maximum order value has been reached. Orders typically fluctuate from quarter to quarter based on customer demand and general business conditions. It is generally expected that a substantial portion of our remaining performance obligations will be fulfilled within three months, and nearly all of our performance obligations are fulfilled within one year. Since our performance obligations are part of contracts that generally have original durations of one year or less, we have not disclosed the aggregate amount of transaction prices associated with unsatisfied or partially unsatisfied performance obligations as of March 31, 2026. While the Company typically offers standard product warranty coverage that provides assurance that our products will conform to the contractually agreed-upon specifications for a limited period from the date of shipment, the Company’s warranty liabilities as of March 31, 2026 and December 31, 2025, and related warranty expense for the three months ended March 31, 2026 and 2025, have not been and were not material in the accompanying Condensed Consolidated Financial Statements. Disaggregation of Net Sales The following table shows our net sales disaggregated into categories the Company considers meaningful to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors for the three months ended March 31, 2026 and 2025:
Net sales by geographic area are based on the customer location to which the product is shipped. As the Company is not organized by product or group of products, it is impracticable to disclose net sales by product or group of products. |
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Commitments and Contingencies |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Commitments and Contingencies | |
| Commitments and Contingencies | Note 15—Commitments and Contingencies The Company is party to a number of legal and/or regulatory actions arising out of the normal course of its business. The Company records a loss contingency liability when, in the opinion of management after seeking legal advice, a loss is considered probable and the amount can be reasonably estimated. Based on information currently available and management’s evaluation of such information, the Company does not believe that the resolution of any existing legal or regulatory action is expected to have a material adverse effect on the Company’s financial condition, results of operations or cash flows. The Company’s legal costs associated with defending itself are recorded to expense as incurred. Certain operations of the Company are subject to environmental laws and regulations that govern the discharge of pollutants into the air and water, as well as the handling and disposal of solid and hazardous wastes. The Company believes that its operations are currently in substantial compliance with applicable environmental laws and regulations and that the costs of continuing compliance will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. |
Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
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| Pay vs Performance Disclosure | ||
| Net Income (Loss) | $ 933.0 | $ 737.8 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Basis of Presentation and Principles of Consolidation (Policy) |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Basis of Presentation and Principles of Consolidation | |
| Principles of Consolidation | The Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, and each of the related Condensed Consolidated Statements of Income, Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Cash Flow for the three months ended March 31, 2026 and 2025, include the accounts of Amphenol Corporation and its subsidiaries (“Amphenol,” the “Company,” “we,” “our” or “us”). All material intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements included herein are unaudited. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, including normal recurring adjustments considered necessary for a fair presentation of the results, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements and the related notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report”). |
Inventories (Tables) |
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| Schedule of Inventories |
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Debt (Tables) |
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Fair Value Measurements (Tables) |
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| Fair Value Measurements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Income Taxes (Tables) |
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| Schedule of provision for income taxes and effective tax rate |
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Stockholders' Equity and Noncontrolling Interests (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity and Noncontrolling Interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rollforward of consolidated changes in equity | A rollforward of consolidated changes in equity and redeemable noncontrolling interests for the three months ended March 31, 2026 is as follows:
A rollforward of consolidated changes in equity and redeemable noncontrolling interests for the three months ended March 31, 2025 is as follows:
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| Schedules of dividends |
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Stock-Based Compensation (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of stock option activity |
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| Summary of status of non-vested options and changes during the year |
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| Summary of activity in the option plans |
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| Schedule of restricted share activity | Restricted share activity for the three months ended March 31, 2026 was as follows:
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Earnings Per Share (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of the reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding |
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Benefit Plans and Other Postretirement Benefits (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Benefit Plans and Other Postretirement Benefits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of net pension expense |
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Acquisitions (Tables) - CommScope's Connectivity and Cable Solutions Business |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of preliminary allocation of purchase price |
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| Schedule of pro forma financial information |
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Goodwill and Other Intangible Assets (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Other Intangible Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of changes in the carrying amount of goodwill by segment |
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| Summary of the Company's amortizable intangible assets | Other than goodwill noted above, the Company’s intangible assets as of March 31, 2026 and December 31, 2025 were as follows:
(1) Certain prior period amounts have been reclassified to conform to the current period presentation. |
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| Summary of the Company's indefinite-lived intangible assets | Other than goodwill noted above, the Company’s intangible assets as of March 31, 2026 and December 31, 2025 were as follows:
(1) Certain prior period amounts have been reclassified to conform to the current period presentation. |
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Reportable Business Segments (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reportable Business Segments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of total sales, intersegment sales and external net sales by segment and a reconciliation by segment of external net sales to segment operating income. | The following table (i) summarizes, by segment, total sales, intersegment sales and external net sales and (ii) reconciles each segment’s external net sales to their respective segment operating income, including segment operating expenses, for the three months ended March 31, 2026 and 2025:
_____________________________
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| Schedule of the reconciliation of segment operating income to consolidated income before income taxes |
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| Schedule of depreciation and amortization expense |
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Revenue Recognition (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Revenue Recognition | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of disaggregation of net sales |
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Inventories (Details) - USD ($) $ in Millions |
Mar. 31, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Inventories | ||
| Raw materials and supplies | $ 1,666.7 | $ 1,413.0 |
| Work in process | 1,203.6 | 960.3 |
| Finished goods | 1,216.5 | 1,051.6 |
| Inventories | $ 4,086.8 | $ 3,424.9 |
Debt, Revolving Credit Facility (Details) - The "Revolving Credit Facility" - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 |
Dec. 31, 2025 |
Mar. 21, 2024 |
|
| Debt | |||
| Maximum borrowing capacity | $ 3,000.0 | ||
| Borrowings under the Revolving Credit Facility | $ 0.0 | $ 0.0 | |
| Debt Instrument, covenant compliance | On March 31, 2026, the Company was in compliance with the financial covenants under the Revolving Credit Facility |
Debt, Commercial Paper (Details) $ in Millions |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2026
USD ($)
subsidiary
|
Dec. 31, 2025
USD ($)
|
|
| Commercial Paper Programs and Revolving Credit Facility | ||
| Debt | ||
| Maximum borrowing capacity | $ 3,000.0 | |
| U.S. Commercial Paper Program | ||
| Debt | ||
| Maximum borrowing capacity | 3,000.0 | |
| Debt carrying amount, net of unamortized discount before deferred debt issuance costs | $ 0.0 | $ 0.0 |
| U.S. Commercial Paper Program | Maximum [Member] | ||
| Debt | ||
| Maturity term | 397 days | |
| Euro Commercial Paper Program | ||
| Debt | ||
| Number of wholly-owned subsidiaries that entered into a euro-commercial paper program | subsidiary | 1 | |
| Maximum borrowing capacity | $ 2,000.0 | |
| Proceeds from issuance of commercial paper | 0.0 | |
| Debt carrying amount, net of unamortized discount before deferred debt issuance costs | $ 0.0 | $ 0.0 |
| Euro Commercial Paper Program | Maximum [Member] | ||
| Debt | ||
| Maturity term | 183 days |
Debt, Delayed Draw Term Loans (Details) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Jan. 09, 2026 |
Aug. 22, 2025 |
Mar. 31, 2026 |
Nov. 13, 2025 |
|
| Delayed Draw Term Loan | ||||
| Debt | ||||
| Credit facility, covenant compliance | On March 31, 2026, the Company was in compliance with the financial covenants under each Delayed Draw Term Loan. | |||
| Delayed Draw Term Loan With 364 Days Term | ||||
| Debt | ||||
| Delayed draw term loans | $ 1,534.1 | |||
| Maturity term | 364 days | 364 days | ||
| Debt maturity date | Jan. 08, 2027 | |||
| Effective interest rate | 4.42% | |||
| Debt instrument, principal amount | $ 2,000.0 | $ 1,534.1 | ||
| Delayed Draw Term Loan With 3 Years Term | ||||
| Debt | ||||
| Delayed draw term loans | $ 1,534.1 | |||
| Maturity term | 3 years | 3 years | ||
| Debt maturity date | Jan. 09, 2029 | |||
| Effective interest rate | 4.54% | |||
| Debt instrument, principal amount | $ 2,000.0 | $ 1,534.1 |
Income Taxes, Provision and Effective tax rate impacts (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Income Taxes | ||
| Provision for income taxes | $ (702.4) | $ (218.7) |
| Effective tax rate (as a percent) | 42.70% | 22.70% |
| Excess tax benefit from option exercises | $ 50.9 | $ 20.1 |
| Excess tax benefits related to stock-based compensation (as a percent) | 3.10% | 2.10% |
| Impact of acquisition-related expenses on the effective tax rate | 1.20% | 0.30% |
| Unfavorable determinations received from relevant tax authorities | $ 130.0 | |
| Additional tax obligations | $ 160.0 | |
| Accruals effect of increasing effective tax rate related to the additional tax obligations | 17.60% | |
Income Taxes, Unrecognized tax benefits (Details) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Dec. 31, 2025 |
|
| Income Taxes | |||
| Amount for unrecognized tax benefits, including penalties and interest, which if recognized would impact the effective tax rate | $ 571.5 | ||
| Unrecognized tax benefits, anticipated adjustment for changing facts and circumstances, over the next twelve month period | 239.5 | ||
| Accrued taxes | 230.0 | ||
| Additional accrued taxes | $ 130.0 | $ 100.0 | |
| Effective tax rate (as a percent) | 42.70% | 22.70% | |
| Additional tax obligations | $ 160.0 | ||
Stockholders' Equity and Noncontrolling Interests, Authorized Shares for Issuance and Stock Repurchase (Details) - USD ($) shares in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | |||
|---|---|---|---|---|---|
Apr. 23, 2024 |
Apr. 28, 2026 |
Mar. 31, 2026 |
Mar. 31, 2025 |
Apr. 29, 2026 |
|
| Stockholders' Equity | |||||
| Payments for shares repurchased (in dollars) | $ 178.0 | $ 180.9 | |||
| 2024 Stock Repurchase Program | |||||
| Stockholders' Equity | |||||
| Value of shares authorized to be repurchased (in dollars) | $ 2,000.0 | ||||
| Repurchase of stock program, period | 3 years | ||||
| Share repurchase program, expiration date | Apr. 28, 2027 | ||||
| Number of shares repurchased | 1.3 | ||||
| Payments for shares repurchased (in dollars) | $ 178.0 | ||||
| Subsequent Events | 2024 Stock Repurchase Program | |||||
| Stockholders' Equity | |||||
| Number of shares repurchased | 0.3 | ||||
| Payments for shares repurchased (in dollars) | $ 44.2 | ||||
| Value of shares remaining that may be repurchased under the stock repurchase program (in dollars) | $ 648.8 | ||||
Stockholders' Equity and Noncontrolling Interests, Dividends (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2026 |
Dec. 31, 2025 |
Sep. 30, 2025 |
Mar. 31, 2025 |
|
| Stockholders' Equity and Noncontrolling Interests | ||||
| Dividends declared per share (in dollars per share) | $ 0.25 | $ 0.165 | ||
| Dividends declared | $ 307.4 | $ 199.6 | ||
| Dividends paid (including those declared in the prior year) | $ 306.7 | $ 199.5 | ||
| O 2025 Q3 Dividends | ||||
| Stockholders' Equity and Noncontrolling Interests | ||||
| Dividends declared per share (in dollars per share) | $ 0.165 | |||
| O 2025 Q4 Dividends | ||||
| Stockholders' Equity and Noncontrolling Interests | ||||
| Dividends declared per share (in dollars per share) | $ 0.25 | |||
Stock-Based Compensation, Stock-based Comp Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Stock-Based Compensation | ||
| Expense incurred for stock-based compensation plans | $ 34.2 | $ 26.6 |
| Recognized tax benefit related to stock-based compensation | 54.7 | 23.0 |
| Excess tax benefit from option exercises | $ 50.9 | $ 20.1 |
Stock-Based Compensation, Stock Options (Details) - shares |
3 Months Ended | ||
|---|---|---|---|
May 19, 2021 |
Mar. 31, 2026 |
May 18, 2021 |
|
| 2009 Employee Option Plan | |||
| Stock-Based Compensation | |||
| Additional shares available for the granting of stock options | 0 | ||
| Options ratable vesting period | 5 years | ||
| Options exercisable period | 10 years | ||
| 2017 Option Plan | |||
| Stock-Based Compensation | |||
| Additional shares available for the granting of stock options | 80,000,000 | ||
| Number of shares originally authorized for issuance of stock options under stock option plan | 120,000,000 | ||
| Remaining shares available for the granting of stock options under plan | 47,400,531 | ||
| Options ratable vesting period | 5 years | ||
| Options exercisable period | 10 years |
Stock-Based Compensation, Option Plans (Details) - Stock Options - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Stock-Based Compensation | ||
| Total intrinsic value of stock options exercised (in dollars) | $ 504.4 | $ 140.3 |
| Total fair value of stock options vested (in dollars) | 4.8 | $ 2.3 |
| Total compensation cost related to non-vested options not yet recognized (in dollars) | $ 324.4 | |
| Weighted average expected amortization period | 3 years 3 months 10 days | |
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Earnings Per Share | ||
| Net Income (Loss) | $ 933.0 | $ 737.8 |
| Weighted average common shares outstanding - Basic (in shares) | 1,228.9 | 1,209.8 |
| Effect of dilutive stock options (in shares) | 60.8 | 56.4 |
| Weighted average common shares outstanding - Diluted (in shares) | 1,289.7 | 1,266.2 |
| Net income attributable to Amphenol Corporation per common share - Basic | ||
| Net income attributable to Amphenol Corporation per common share - Basic (in dollars per share) | $ 0.76 | $ 0.61 |
| Net income attributable to Amphenol Corporation per common share - Diluted | ||
| Net income attributable to Amphenol Corporation per common share - Diluted (in dollars per share) | $ 0.72 | $ 0.58 |
| Anti-dilutive common shares | ||
| Anti-dilutive stock options, excluded from the computations of earnings per share (in shares) | 0.0 | 8.2 |
Benefit Plans and Other Postretirement Benefits, Net pension expense (Details) - Pension Plan - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Components of net pension expense: | ||
| Service cost | $ 3.3 | $ 0.8 |
| Interest cost | 12.5 | 5.8 |
| Expected return on plan assets | (13.8) | (6.6) |
| Amortization of prior service cost | 0.3 | 0.3 |
| Amortization of net actuarial losses | 0.7 | 0.8 |
| Net pension (income) expense | 3.0 | $ 1.1 |
| UNITED STATES | ||
| Defined Benefit Plan Disclosure | ||
| Estimated future employer contribution in fiscal year | $ 0.0 | |
Benefit Plans and Other Postretirement Benefits, Defined contribution plans (Details) - UNITED STATES - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Defined Contribution Plan Disclosure [Line Items] | ||
| Contributions to U.S. defined contribution plans by the Company, maximum percentage of eligible compensation | 7.00% | 7.00% |
| Matching contributions to U.S. defined contribution plans by the Company | $ 14.3 | $ 10.6 |
Acquisitions, Allocation of Purchase Price (Details) - USD ($) $ in Millions |
Mar. 31, 2026 |
Jan. 09, 2026 |
Dec. 31, 2025 |
|---|---|---|---|
| ASSETS | |||
| Goodwill | $ 17,542.9 | $ 10,575.4 | |
| CommScope's Connectivity and Cable Solutions Business | |||
| ASSETS | |||
| Cash and cash equivalents | $ 204.4 | ||
| Accounts receivable | 720.0 | ||
| Inventories | 656.1 | ||
| Prepaid expenses and other current assets | 65.1 | ||
| Property, plant and equipment, net | 319.7 | ||
| Goodwill | 6,978.4 | ||
| Other intangible assets, net | 3,306.0 | ||
| Other long-term assets | 319.8 | ||
| Assets acquired | 12,569.5 | ||
| LIABILITIES | |||
| Accounts payable | 416.4 | ||
| Accrued salaries, wages and employee benefits | 137.6 | ||
| Other accrued expenses | 265.9 | ||
| Deferred income taxes | 730.2 | ||
| Other long-term liabilities | 215.2 | ||
| Noncontrolling interests | 6.9 | ||
| Liabilities assumed | 1,772.2 | ||
| Net assets acquired | $ 10,797.3 |
Acquisitions, Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| 2026 Acquisitions | ||
| Pro forma adjustments | ||
| Acquisition related cost per diluted share | $ 0.16 | |
| CommScope's Connectivity and Cable Solutions Business | ||
| Pro forma adjustments | ||
| Net sales | $ 7,707.7 | $ 5,535.1 |
| Net income attributable to Amphenol Corporation | $ 1,120.1 | $ 496.8 |
| Net income attributable to Amphenol Corporation per common share - Diluted | $ 0.87 | $ 0.39 |
| Total acquisition-related expenses | $ 222.3 | |
| Total acquisition-related expenses, net of tax | $ 181.0 | |
| Acquisition related cost per diluted share | $ 0.14 | |
| 2025 Acquisitions | ||
| Pro forma adjustments | ||
| Acquisition related cost per diluted share | $ 0.06 | |
| Pro forma | CommScope's Connectivity and Cable Solutions Business | ||
| Pro forma adjustments | ||
| Total acquisition-related expenses | $ 243.2 | |
| Total acquisition-related expenses, net of tax | $ 201.9 | |
| Acquisition related cost per diluted share | $ 0.16 | |
Goodwill and Other Intangible Assets, Goodwill (Details) $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2026
USD ($)
| |
| Goodwill | |
| Goodwill, Beginning Balance | $ 10,575.4 |
| Acquisition-related | 6,988.7 |
| Foreign currency translation | (21.2) |
| Goodwill, Ending Balance | 17,542.9 |
| Communications Solutions | |
| Goodwill | |
| Goodwill, Beginning Balance | 3,858.6 |
| Acquisition-related | 6,983.5 |
| Foreign currency translation | (1.5) |
| Goodwill, Ending Balance | 10,840.6 |
| Harsh Environment Solutions | |
| Goodwill | |
| Goodwill, Beginning Balance | 4,270.2 |
| Acquisition-related | 3.9 |
| Foreign currency translation | (5.0) |
| Goodwill, Ending Balance | 4,269.1 |
| Interconnect and Sensor Systems | |
| Goodwill | |
| Goodwill, Beginning Balance | 2,446.6 |
| Acquisition-related | 1.3 |
| Foreign currency translation | (14.7) |
| Goodwill, Ending Balance | $ 2,433.2 |
Goodwill and Other Intangible Assets, Amortization (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Intangible assets | ||
| Amortization expense | $ 145.6 | $ 47.3 |
| Amortization expense estimated for each of the next five fiscal years | ||
| Remainder of 2026 | 318.6 | |
| 2027 | 387.0 | |
| 2028 | 379.8 | |
| 2029 | 368.9 | |
| 2030 | 366.2 | |
| 2031 | 359.7 | |
| Backlog | ||
| Intangible assets | ||
| Amortization expense | 46.9 | |
| 2025 Acquisitions | Backlog | ||
| Intangible assets | ||
| Amortization expense | $ 10.0 | |
| 2026 Acquisitions | Backlog | ||
| Intangible assets | ||
| Amortization expense | $ 46.9 | |
Reportable Business Segments, Reconciliation of Segment Operating Income to Consolidated Income Before Income Taxes (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Segment reporting information | ||
| Stock-based compensation expense | $ (34.2) | $ (26.6) |
| Acquisition-related expenses | (116.9) | (44.0) |
| Operating income | 1,831.8 | 1,024.8 |
| Interest expense | (207.9) | (76.5) |
| Other income (expense), net | 21.8 | 14.6 |
| Income before income taxes | 1,645.7 | 962.9 |
| Operating Segment | ||
| Segment reporting information | ||
| Operating income | 2,144.4 | 1,176.5 |
| Interest expense | (207.9) | (76.5) |
| Other income (expense), net | 21.8 | 14.6 |
| Corporate / Other | ||
| Segment reporting information | ||
| Stock-based compensation expense | (34.2) | (26.6) |
| Amortization of acquisition-related inventory step-up costs | (132.0) | (60.9) |
| Acquisition-related expenses | (116.9) | (44.0) |
| Other operating expenses | $ (29.5) | $ (20.2) |
Reportable Business Segments, Depreciation & Amortization by Segment (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Segment reporting information | ||
| Depreciation and amortization | $ 485.8 | $ 236.3 |
| Communications Solutions | ||
| Segment reporting information | ||
| Depreciation and amortization | 211.3 | 89.8 |
| Harsh Environment Solutions | ||
| Segment reporting information | ||
| Depreciation and amortization | 47.9 | 38.3 |
| Interconnect and Sensor Systems | ||
| Segment reporting information | ||
| Depreciation and amortization | 40.0 | 34.7 |
| Corporate / Other | ||
| Segment reporting information | ||
| Depreciation and amortization | $ 186.6 | $ 73.5 |
Reportable Business Segments, Depreciation & Amortization by Segment Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Segment reporting information | ||
| Amortization expense pertaining to acquisitions | $ 145.6 | $ 47.3 |
| Amortization of Inventory step-up costs recorded to Cost of Sales | ||
| Segment reporting information | ||
| Amortization of acquisition-related inventory step-up costs recorded in Cost of sales | 132.0 | |
| Andrew Business Acquisition | Amortization of Inventory step-up costs recorded to Cost of Sales | ||
| Segment reporting information | ||
| Amortization of acquisition-related inventory step-up costs recorded in Cost of sales | 60.9 | |
| Backlog | ||
| Segment reporting information | ||
| Amortization expense pertaining to acquisitions | 46.9 | |
| Backlog | 2025 Acquisitions | ||
| Segment reporting information | ||
| Amortization expense pertaining to acquisitions | $ 10.0 | |
| Backlog | 2026 Acquisitions | ||
| Segment reporting information | ||
| Amortization expense pertaining to acquisitions | $ 46.9 | |
Revenue Recognition (Details) - item |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Revenue recognition | ||
| Remaining performance obligation, expected timing for substantial portion of performance obligations | 3 months | |
| Practical expedient, performance obligation | true | |
| Minimum | ||
| Revenue recognition | ||
| Number of reporting periods that may be extended across for multiple delivery dates | 1 | |
| Maximum | ||
| Revenue recognition | ||
| Percentage of net sales recognized over time | 5.00% | 5.00% |
| Remaining performance obligation, expected timing for nearly all performance obligations | 1 year | |
| Practical expedient, performance obligation | true | |