Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Jul. 27, 2021
Document and Entity Information
Entity Registrant Name	AMPHENOL CORPORATION
Entity Central Index Key	0000820313
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	1-10879
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2785165
Entity Address, Address Line One	358 Hall Avenue
Entity Address, City or Town	Wallingford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06492
City Area Code	203
Local Phone Number	265-8900
Title of 12(b) Security	Class A Common Stock, $0.001 par value
Trading Symbol	APH
Security Exchange Name	NYSE
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		598,185,235
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 1,209.4	$ 1,702.0
Short-term investments	33.2	36.1
Total cash, cash equivalents and short-term investments	1,242.6	1,738.1
Accounts receivable, less allowance for doubtful accounts of $43.9 and $44.8, respectively	2,072.8	1,951.6
Inventories	1,771.4	1,462.2
Prepaid expenses and other current assets	372.0	338.9
Current assets held for sale	1,032.4	0.0
Total current assets	6,491.2	5,490.8
Property, plant and equipment, less accumulated depreciation of $1,836.0 and $1,738.6, respectively	1,169.3	1,054.6
Goodwill	5,891.7	5,032.1
Other intangible assets, net	620.8	397.5
Other long-term assets	386.1	352.3
Total assets	14,559.1	12,327.3
Current Liabilities:
Accounts payable	1,204.7	1,120.7
Accrued salaries, wages and employee benefits	226.4	195.4
Accrued income taxes	94.7	112.6
Accrued dividends	86.6	86.8
Other accrued expenses	634.4	558.5
Current portion of long-term debt	526.1	230.3
Current liabilities held for sale	223.6	0.0
Total current liabilities	2,996.5	2,304.3
Long-term debt, less current portion	4,710.2	3,636.2
Accrued pension and postretirement benefit obligations	227.1	228.6
Deferred income taxes	436.8	299.1
Other long-term liabilities	410.2	407.2
Equity:
Common stock	0.6	0.6
Additional paid-in capital	2,198.9	2,068.1
Retained earnings	3,916.4	3,705.4
Treasury stock, at cost	(100.1)	(111.1)
Accumulated other comprehensive loss	(300.3)	(278.1)
Total shareholders' equity attributable to Amphenol Corporation	5,715.5	5,384.9
Noncontrolling interests	62.8	67.0
Total equity	5,778.3	5,451.9
Total liabilities and equity	$ 14,559.1	$ 12,327.3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Allowance for doubtful accounts	$ 43.9	$ 44.8
Accumulated depreciation	$ 1,836.0	$ 1,738.6

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Income
Net sales	$ 2,653.9	$ 1,987.5	$ 5,031.0	$ 3,849.5
Cost of sales	1,810.7	1,383.7	3,460.3	2,685.9
Gross profit	843.2	603.8	1,570.7	1,163.6
Acquisition-related expenses	55.4	0.0	55.4	0.0
Selling, general and administrative expenses	311.6	246.4	574.3	489.3
Operating income	476.2	357.4	941.0	674.3
Interest expense	(29.1)	(30.2)	(57.7)	(59.0)
Other (expense) income, net	0.0	1.3	(0.4)	2.4
Income from continuing operations before income taxes	447.1	328.5	882.9	617.7
Provision for income taxes	(78.1)	(68.0)	(182.2)	(114.0)
Net income from continuing operations	369.0	260.5	700.7	503.7
Less: Net income from continuing operations attributable to noncontrolling interests	(1.8)	(2.8)	(4.0)	(3.9)
Net income from continuing operations attributable to Amphenol Corporation	367.2	257.7	696.7	499.8
Income from discontinued operations attributable to Amphenol Corporation, net of income taxes of ($0.3)	2.6	0.0	2.6	0.0
Net income attributable to Amphenol Corporation	$ 369.8	$ 257.7	$ 699.3	$ 499.8
Net income per common share - Basic, Continuing operations (in dollars per share)	$ 0.61	$ 0.43	$ 1.17	$ 0.84
Net income per common share - Basic, Discontinued operations, net of income taxes (in dollars per share)	0	0	0	0
Net income per common share - Basic (in dollars per share)	$ 0.62	$ 0.43	$ 1.17	$ 0.84
Weighted average common shares outstanding - Basic (in shares)	597.4	593.3	597.9	594.1
Net income per common share - Diluted, Continuing operations (in dollars per share)	$ 0.59	$ 0.42	$ 1.12	$ 0.82
Net income per common share - Diluted, Discontinued operations, net of income taxes (in dollars per share)	0	0	0	0
Net income per common share - Diluted (in dollars per share)	$ 0.59	$ 0.42	$ 1.12	$ 0.82
Weighted average common shares outstanding - Diluted (in shares)	623.8	608.0	623.9	610.5

Condensed Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Condensed Consolidated Statements of Income
Income taxes on income from discontinued operations attributable to Amphenol Corporation	$ 0.3	$ 0.3

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

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+ Details

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Comprehensive Income
Net income from continuing operations	$ 369.0	$ 260.5	$ 700.7	$ 503.7
Add: Income (loss) from discontinued operations attributable to Amphenol Corporation, net of income taxes	2.6	0.0	2.6	0.0
Net income before allocation to noncontrolling interests	371.6	260.5	703.3	503.7
Total other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	29.8	26.4	(32.5)	(74.2)
Unrealized gain (loss) on hedging activities	0.8	(0.8)	0.9	(0.6)
Pension and postretirement benefit plan adjustment, net of tax of ($1.6) and ($3.3) for 2021, and ($1.7) and ($3.3) for 2020, respectively	5.1	5.2	10.2	10.3
Total other comprehensive income (loss), net of tax	35.7	30.8	(21.4)	(64.5)
Total comprehensive income	407.3	291.3	681.9	439.2
Less: Comprehensive income attributable to noncontrolling interests	(2.8)	(3.1)	(4.8)	(3.1)
Comprehensive income attributable to Amphenol Corporation	$ 404.5	$ 288.2	$ 677.1	$ 436.1

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Comprehensive Income
Pension and postretirement benefit plan adjustment, tax	$ (1.6)	$ (1.7)	$ (3.3)	$ (3.3)

Condensed Consolidated Statements of Cash Flow - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash from operating activities:
Net income from continuing operations	$ 369.0	$ 260.5	$ 700.7	$ 503.7
Adjustments to reconcile net income from continuing operations to cash provided by operating activities from continuing operations:
Depreciation and amortization			179.3	143.6
Stock-based compensation expense			39.0	32.0
Deferred income tax provision			12.8	5.1
Net change in components of working capital			(194.9)	70.8
Net change in other long-term assets and liabilities			(4.9)	(2.8)
Net cash provided by operating activities from continuing operations			732.0	752.4
Net cash (used in) provided by operating activities from discontinued operations			(23.3)	0.0
Net cash provided by operating activities			708.7	752.4
Cash from investing activities:
Capital expenditures			(183.3)	(128.3)
Proceeds from disposals of property, plant and equipment			1.6	1.9
Purchases of short-term investments			(82.2)	(49.1)
Sales and maturities of short-term investments			84.8	40.3
Acquisitions, net of cash acquired			(1,531.0)	(16.5)
Other			(11.2)	0.0
Net cash used in investing activities from continuing operations			(1,721.3)	(151.7)
Net cash used in investing activities from discontinued operations			(3.4)	0.0
Net cash used in investing activities			(1,724.7)	(151.7)
Cash from financing activities:
Proceeds from issuance of senior notes and other long-term debt			1.4	942.3
Repayments of senior notes and other long-term debt			(387.1)	(401.3)
Borrowings under credit facilities			0.0	1,567.4
Repayments under credit facilities			0.0	(1,568.1)
(Repayments) borrowings under commercial paper programs, net			1,401.3	(385.2)
Payment of costs related to debt financing			0.0	(8.7)
Payment of acquisition-related contingent consideration			0.0	(75.0)
Proceeds from exercise of stock options			103.3	152.5
Payment of deferred purchase price related to acquisitions			(4.1)	0.0
Distributions to and purchases of noncontrolling interests			(8.3)	(9.7)
Purchase of treasury stock			(320.1)	(257.2)
Dividend payments	(86.6)	(74.0)	(173.4)	(148.4)
Net cash provided by (used in) financing activities from continuing operations			613.0	(191.4)
Net cash provided by (used in) financing activities from discontinued operations			7.0	0.0
Net cash provided by (used in) financing activities			620.0	(191.4)
Effect of exchange rate changes on cash and cash equivalents			(9.1)	(12.2)
Net (decrease) increase in cash and cash equivalents			(405.1)	397.1
Cash and cash equivalents balance, beginning of period			1,702.0	891.2	$ 891.2
Cash and cash equivalents balance, end of period	1,296.9	1,288.3	1,296.9	1,288.3	$ 1,702.0
Less: Cash and cash equivalents included in Current assets held for sale, end of period	87.5	0.0	87.5	0.0
Cash and cash equivalents balance of continuing operations, end of period	$ 1,209.4	$ 1,288.3	1,209.4	1,288.3
Cash paid for:
Interest			51.0	47.2
Income taxes, net			$ 209.0	$ 141.6

Basis of Presentation and Principles of Consolidation

6 Months Ended

Jun. 30, 2021

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 June 30, 2021 and December 31, 2020, the related Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2021 and 2020, and the related Condensed Consolidated Statements of Cash Flow for the six months ended June 30, 2021 and 2020, 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. The results of operations for the three and six months ended June 30, 2021 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, 2020 (the “2020 Annual Report”).

Stock Split

On January 27, 2021, the Company announced that its Board of Directors approved a two-for-one split of the Company’s Common Stock. The stock split was effected in the form of a stock dividend paid to shareholders of record as of the close of business on February 16, 2021. The additional shares were distributed on March 4, 2021, and the Company’s Common Stock began trading on a split-adjusted basis on March 5, 2021. As a result of the stock split, shareholders received one additional share of Amphenol Common Stock, $0.001 par value, for each share held as of the record date.

All current and prior year data presented in the accompanying Condensed Consolidated Financial Statements and notes thereto in this Form 10-Q, including but not limited to, number of shares and per share information, stock-based compensation data including stock options and restricted shares and related per share data, basic and diluted earnings per share, and dividends per share amounts, have been adjusted to reflect the effect of the stock split. As a result of the stock split, certain prior period amounts have been reclassified to conform to the current period presentation in the Condensed Consolidated Financial Statements and accompanying notes herein. The impact to the Condensed Consolidated Balance Sheets, as well as the rollforward of consolidated changes in equity included in Note 7 herein, was an increase of $0.3 to Common Stock, with an offsetting decrease in Additional paid-in capital, which has been retroactively adjusted for all periods presented.

While the stock split did not change the number of authorized common shares of the Company, in May 2021, the Company’s stockholders approved an amendment to the Company’s certificate of incorporation to increase the number of authorized shares of Common Stock, which amendment was filed and became effective on May 21, 2021. Refer to Note 7 herein for further details related to the increase in the number of shares of Common Stock authorized for issuance as a result of this amendment.

Discontinued Operations

The Company reports an operation’s assets and liabilities separately as “held for sale” when (1) management, having the authority to approve the action, commits to a plan to sell the discontinued operation, the plan of which is unlikely to have any significant changes or to be withdrawn, (2) the completed sale is probable within one year and (3) an active program to locate a buyer has been initiated with the operation actively marketed for sale at a price that is reasonable in relation to its current fair value and for immediate sale in its present condition. In December 2020, the Company signed a definitive agreement to acquire MTS Systems Corporation (Nasdaq: MTSC) (“MTS”) as more fully

discussed in Note 11 herein. On January 19, 2021, the Company entered into a definitive agreement to sell the MTS Test & Simulation (“MTS T&S”) business to Illinois Tool Works Inc. (NYSE: ITW). The Company closed on the acquisition of MTS on April 7, 2021. The Company expects to close on the sale of the MTS T&S business as soon as all required regulatory approvals have been received and other customary closing conditions have been satisfied, which the Company expects to be within the one-year period outlined above. The Company concluded that the MTS T&S business met the “held for sale” criteria upon the closing of the MTS acquisition and, as such, the assets and liabilities are presented as held for sale and classified as current as of June 30, 2021 in the Condensed Consolidated Balance Sheets and accompanying Notes herein. The financial results and cash flows associated with the MTS T&S business are also accounted for as discontinued operations in the accompanying Condensed Consolidated Statements of Income and Statements of Cash Flow, respectively, for all current year periods presented. The comprehensive income associated with discontinued operations is not material and has not been separately presented in the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2021.

Refer to Note 11 herein for further information related to the acquisition of MTS, along with Note 12 herein for further discussion of the Company’s discontinued operations associated with the MTS T&S business including the Company’s planned divestiture thereof.

New Accounting Pronouncements

6 Months Ended

Jun. 30, 2021

New Accounting Pronouncements

New Accounting Pronouncements

Note 2—New Accounting Pronouncements

Recently Adopted Accounting Standards and Final SEC Rules

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplified income tax accounting in various areas. The Company has evaluated and adopted ASU 2019-12 on January 1, 2021, which did not have a material impact on our consolidated financial statements.

In May 2020, the Securities and Exchange Commission (the “SEC”) issued a new rule regarding the financial statement requirements for acquisitions and dispositions of a business, which included, among other things, amending (i) certain criteria in the significance tests for acquired or to-be-acquired businesses, (ii) related pro forma financial information requirements, including its form and content, and (iii) related disclosure requirements, including the number of acquiree financial statement periods required to be presented in SEC filings. The final rule was effective for fiscal years beginning after December 31, 2020, with early application permitted. The Company evaluated and adopted this SEC final rule on January 1, 2021, which, to date, has not had a material impact on our condensed consolidated financial statements. Its impact on any future SEC filings will be dependent on the size of future business combinations and/or divestitures.

Recently Issued Accounting Standards and Final SEC Rules Not Yet Adopted

The United Kingdom’s Financial Conduct Authority (the “FCA”), which regulates the London Interbank Offered Rate (“LIBOR”), announced in July 2017 its intent to phase out the use of LIBOR by the end of 2021. In December 2020, the ICE Benchmark Administration published a consultation on its intention to extend the publication of certain U.S. dollar LIBOR (“USD LIBOR”) rates until June 30, 2023. Subsequently in March 2021, the FCA announced some USD LIBOR tenors (overnight, 1-month, 3-month, 6-month and 12-month) will continue to be published until June 30, 2023. The U.S. Federal Reserve, in conjunction with the Alternative Reference Rates Committee, a steering committee comprised of large U.S. financial institutions, identified the Secured Overnight Financing Rate (the “SOFR”) as its preferred benchmark alternative to USD LIBOR. The SOFR represents a measure of the cost of borrowing cash overnight, collateralized by U.S. Treasury securities, and is calculated based on directly observable U.S. Treasury-backed repurchase transactions. In March 2020, in response to this transition, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued by reference rate reform, and addresses operational issues likely to arise in modifying contracts to replace discontinued reference rates with new rates. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022. In January 2021, the FASB also issued ASU 2021-01 Reference Rate Reform (Topic 848): Scope (“ASU 2021-01”), which permits entities to elect certain optional expedients and exceptions when accounting for derivatives and certain hedging relationships affected by

changes in interest rates and the transition. The Company is evaluating the potential impact of the replacement of LIBOR from both a risk management and financial reporting perspective. Our current portfolio of debt and financial instruments tied to LIBOR consists primarily of our Revolving Credit Facility (as defined below), which had no outstanding borrowings as of June 30, 2021. We do not currently believe that this transition will have a material impact on our financial condition, results of operations or cash flows.

In November 2020, the SEC issued a new rule that modernizes and simplifies various aspects and financial disclosure requirements in Regulation S-K, specifically related to Item 301 “Selected Financial Data”, Item 302 “Supplementary Financial Information” and Item 303 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (“MD&A”). The intent of this new rule is to (i) eliminate duplicative disclosures, (ii) enhance and promote more principles-based MD&A disclosures with the objective of making them more meaningful for investors, all while (iii) simplifying the compliance requirements and efforts for registrants, by providing them with the flexibility to present management’s perspective on the registrant’s financial condition and results of operations. While most of the changes involve reducing or eliminating previously required information and disclosures, the rule does expand the disclosure requirements surrounding certain aspects of the various items in Regulation S-K discussed above. The final rule was published in the Federal Register on January 11, 2021, is effective thirty days after its publication date, or February 10, 2021, and registrants are required to comply with this final rule in the registrant’s first fiscal year ending on or after the date that is 210 days after the publication date (August 9, 2021). The Company has evaluated this SEC final rule, and we plan to incorporate the requirements and amendments of this SEC rule, in its entirety, as part of our Form 10-K for the year ending December 31, 2021. The application of this new SEC rule is not expected to have a material impact on our future SEC filings.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Inventories

6 Months Ended

Jun. 30, 2021

Inventories

Inventories

Note 3—Inventories

Inventories consist of:



	June 30,		December 31,
	2021		2020
Raw materials and supplies	$	742.6	$	587.4
Work in process		509.1		410.7
Finished goods		519.7		464.1
	$	1,771.4	$	1,462.2

Debt

6 Months Ended

Jun. 30, 2021

Debt

Debt

Note 4—Debt

The Company’s debt (net of any unamortized discount) consists of the following:


	June 30, 2021				December 31, 2020
	Carrying		Approximate		Carrying		Approximate
	Amount		Fair Value		Amount		Fair Value
Revolving Credit Facility	$	—	$	—	$	—	$	—
U.S. Commercial Paper Program		1,401.0		1,401.0		—		—
Euro Commercial Paper Program		—		—		—		—
3.125% Senior Notes due September 2021		227.7		228.5		227.7		231.6
4.00% Senior Notes due February 2022		295.0		298.5		294.9		303.6
3.20% Senior Notes due April 2024		349.8		371.4		349.8		378.1
2.050% Senior Notes due March 2025		399.5		414.1		399.4		420.7
0.750% Euro Senior Notes due May 2026		590.8		611.0		608.4		633.6
2.000% Euro Senior Notes due October 2028		590.7		664.6		608.4		694.9
4.350% Senior Notes due June 2029		499.6		585.4		499.6		608.4
2.800% Senior Notes due February 2030		899.4		952.3		899.4		987.8
Other debt		7.6		7.6		6.7		6.7
Less unamortized deferred debt issuance costs		(24.8)		—		(27.8)		—
Total debt		5,236.3		5,534.4		3,866.5		4,265.4
Less current portion		526.1		530.4		230.3		234.2
Total long-term debt	$	4,710.2	$	5,004.0	$	3,636.2	$	4,031.2

Revolving Credit Facility

The Company has a $2,500.0 unsecured credit facility (the “Revolving Credit Facility”), which matures January 2024 and gives the Company the ability to borrow, in various currencies, at a spread over LIBOR. The Company may utilize the Revolving Credit Facility for general corporate purposes. At June 30, 2021 and December 31, 2020, 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 due primarily 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. At June 30, 2021, the Company was in compliance with the financial covenants under the Revolving Credit Facility.

Commercial Paper Programs

The Company has a commercial paper program pursuant to which the Company may issue short-term unsecured commercial paper notes (the “USCP Notes”) in one or more private placements in the United States (the “U.S. Commercial Paper Program”). 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. The maximum aggregate principal amount outstanding of USCP Notes at any time is $2,500.0. As of June 30, 2021, the amount of USCP Notes outstanding was $1,401.0, with a weighted average interest rate of 0.21%. On April 7, 2021, a combination of borrowings under the U.S. Commercial Paper Program and cash and cash equivalents on hand were used to fund the acquisition of MTS. Refer to Note 11 herein for further discussion of the acquisition of MTS.

The Company and one of its wholly owned European subsidiaries (collectively, the “Euro Issuer”) also has 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, “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. As of June 30, 2021, 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, the authorization from the Company’s Board of Directors limits the maximum 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 $2,500.0 in the aggregate. The Commercial Paper Programs are rated A-2 by Standard & Poor’s and P-2 by Moody’s and are currently backstopped by the Revolving Credit Facility, as amounts undrawn under the Company’s 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. The 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 Commercial Paper is actively traded and is therefore classified as Level 1 in the fair value hierarchy (Note 5). The carrying value of Commercial Paper borrowings approximates their fair value.

U.S. Senior Notes

On February 20, 2020, the Company issued $400.0 principal amount of unsecured 2.050% Senior Notes due March 1, 2025 at 99.829% of face value (the “2025 Senior Notes”). The 2025 Senior Notes are unsecured and rank equally in right of payment with the Company’s other unsecured senior indebtedness. Interest on the 2025 Senior Notes is payable semiannually on March 1 and September 1 of each year, commencing on September 1, 2020. Prior to February 1, 2025, the Company may, at its option, redeem some or all of the 2025 Senior Notes at any time by paying the redemption price (which may include a make-whole premium), plus accrued and unpaid interest, if any, to, but not including, the date of redemption. If redeemed on or after February 1, 2025, the Company may, at its option, redeem some or all of the 2025 Senior Notes at any time by paying the redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. On April 1, 2020, the Company used the net proceeds from the 2025 Senior Notes to repay the $400.0 principal amount of unsecured 2.20% Senior Notes due April 1, 2020 upon maturity.

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 the Company’s other unsecured senior indebtedness. Interest on each series of U.S. Senior Notes is payable semiannually. 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 the date of redemption, and, with certain exceptions, a make-whole premium. The fair value of each series of U.S. 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 remaining principal amounts outstanding associated with the Company’s 3.125% Senior Notes due in September 2021 and 4.00% Senior Notes due in February 2022 are each recorded, net of the related unamortized discount and debt issuance costs, within Current portion of long-term debt in the accompanying Condensed Consolidated Balance Sheets as of June 30, 2021. The U.S. Senior Notes contain certain financial and non-financial covenants. At June 30, 2021, the Company was in compliance with the financial covenants under its U.S. Senior Notes.

Euro Senior Notes

On May 4, 2020, the Euro Issuer issued €500.0 (approximately $545.4 at date of issuance) principal amount of unsecured 0.750% Senior Notes due May 4, 2026 at 99.563% of face value (the “2026 Euro Notes” or the “0.750% Euro Senior Notes”, collectively with the 2.000% Euro Senior Notes due October 2028, the “Euro Notes”, and the Euro Notes collectively with the U.S. Senior Notes, the “Senior Notes”). The 2026 Euro Notes are unsecured and rank equally in right of payment with the Euro Issuer’s other unsecured senior indebtedness, and are fully and unconditionally guaranteed on a senior unsecured basis by the Company. Interest on the 2026 Euro Notes is payable annually on May 4 of each year, commencing on May 4, 2021. Prior to February 4, 2026, the Company may, at its option, redeem some or

all of the 2026 Euro Notes at any time by paying the redemption price (which may include a make-whole premium), plus accrued and unpaid interest, if any, to, but not including, the date of redemption. If redeemed on or after February 4, 2026, the Company may, at its option, redeem some or all of the 2026 Euro Notes at any time by paying the redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. The Company used the net proceeds from the 2026 Euro Notes to repay amounts outstanding under the Revolving Credit Facility.

The Company’s Euro Notes are unsecured and rank equally in right of payment with the Euro Issuer’s other unsecured senior indebtedness, and are fully and unconditionally guaranteed on a senior unsecured basis by the Company. Interest on each series of Euro Notes is payable annually. The Company may, at its option, redeem some or all of any series of 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 Euro 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 Euro Notes contain certain financial and non-financial covenants. At June 30, 2021, the Company was in compliance with the financial covenants under its Euro Notes.

Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

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 or liabilities currently subject to such standards with fair value disclosure requirements are primarily debt instruments, pension plan assets, short-term investments, and derivative instruments. Each of these assets and liabilities is discussed below, with the exception of debt instruments and pension plan assets, which are covered in Note 4 and Note 10, respectively, herein, in addition to the Notes to Consolidated Financial Statements in the 2020 Annual Report. Substantially all of the Company’s short-term investments consist of certificates of deposit with original maturities of twelve months or less and as such, are considered as Level 1 in the fair value hierarchy as they are traded in active markets for identical assets. The carrying amounts of these instruments, the majority of which are in non-U.S. bank accounts, approximate their fair value. 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 financial assets is immaterial. The fair values of the Company’s financial and non-financial assets and liabilities subject to such standards as of June 30, 2021 and December 31, 2020 are as follows:


	Fair Value Measurements
			Quoted Prices in		Significant		Significant
			Active Markets		Observable		Unobservable
			for Identical		Inputs		Inputs
	Total		Assets (Level 1)		(Level 2)		(Level 3)
June 30, 2021:
Short-term investments	$	33.2	$	33.2	$	—	$	—
Forward contracts		(13.9)		—		(13.9)		—
Total	$	19.3	$	33.2	$	(13.9)	$	—

December 31, 2020:
Short-term investments	$	36.1	$	36.1	$	—	$	—
Forward contracts		(2.7)		—		(2.7)		—
Total	$	33.4	$	36.1	$	(2.7)	$	—

As of June 30, 2021, the fair value of such forward contracts in the table above consisted of (i) two outstanding foreign exchange forward contracts accounted for as cash flow hedges, with each expiring in 2021, (ii) various outstanding foreign exchange forward contracts accounted for as net investment hedges and (iii) various outstanding foreign exchange forward contracts that are not designated as hedging instruments. The amounts recognized in Accumulated other comprehensive income (loss) associated with foreign exchange forward contracts and 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 during the three and six months ended June 30, 2021 and 2020, were not material. 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.

As further discussed in Note 12 herein, the MTS T&S business met the held for sale criteria upon the acquisition of MTS on April 7, 2021. As a result, the disposal group was measured at fair value less costs to sell, which is considered a Level 3 fair value measurement based on the transaction’s expected consideration. The Company reassessed the fair value of these assets held for sale and liabilities held for sale as of June 30, 2021 and noted that the carrying value of the disposal group did not exceed its fair value less costs to sell.

With the exception of the fair value of the assets acquired and liabilities assumed in connection with acquisition accounting as well as the assets held for sale and liabilities held for sale discussed above, 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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

6 Months Ended

Jun. 30, 2021

Income Taxes

Income Taxes

Note 6—Income Taxes


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2021			2020			2021			2020
Provision for income taxes	$	(78.1)		$	(68.0)		$	(182.2)		$	(114.0)
Effective tax rate		17.5	%		20.7	%		20.6	%		18.5	%

For the three months ended June 30, 2021 and 2020, stock option exercise activity had the impact of decreasing our Provision for income taxes by $19.3 and $12.4, respectively, and decreasing our effective tax rate by 430 basis points and 380 basis points, respectively, due to the recognition of excess tax benefits within Provision for income taxes in the accompanying Condensed Consolidated Statements of Income. For the six months ended June 30, 2021 and 2020, stock option exercise activity had the impact of decreasing our Provision for income taxes by $22.0 and $17.4, respectively, and decreasing our effective tax rate by 250 basis points and 280 basis points, respectively. For the three and six months ended June 30, 2021, acquisition-related expenses had the effect of increasing the effective tax rate by approximately 60

basis points and 30 basis points, respectively, and a discrete tax benefit of $14.9 related to the settlement of uncertain tax positions in certain non-U.S. jurisdictions had the effect of decreasing the effective tax rate by 330 basis points and 170 basis points, respectively. For the six months ended June 30, 2020, the effective tax rate also includes a discrete tax benefit related to the settlements of refund claims in a non-U.S. jurisdiction and the resulting adjustments to deferred taxes, which had the impact of decreasing our Provision for income taxes and effective tax rate by $19.9 and 320 basis points, respectively.

On December 22, 2017, the United States federal government enacted the Tax Cuts and Jobs Act (“Tax Act”), marking a change from a worldwide tax system to a modified territorial tax system in the United States. As part of this change, the Tax Act, among other changes, provides for a transition tax (“Transition Tax”) related to the deemed repatriation of the accumulated unremitted earnings and profits of the Company’s foreign subsidiaries. The Company paid its fourth annual installment of the Transition Tax, net of applicable tax credits and deductions, in the second quarter of 2021, and will pay the balance of the Transition Tax, net of applicable tax credits and deductions, over the remainder of the eight-year period ending 2025, as permitted under the Tax Act. The current and long-term portions of the Transition Tax are recorded in Accrued income taxes and Other long-term liabilities, respectively, on the Condensed Consolidated Balance Sheets as of June 30, 2021 and December 31, 2020.

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 June 30, 2021, the amount of unrecognized tax benefits, including penalties and interest, which if recognized would impact the effective tax rate, was approximately $157.1. 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 twelve-month period, audit activity could be completed and statutes of limitations may close relating to existing unrecognized tax benefits of approximately $8.3.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Shareholders' Equity and Noncontrolling Interests

6 Months Ended

Jun. 30, 2021

Shareholders' Equity and Noncontrolling Interests

Shareholders' Equity and Noncontrolling Interests

Note 7—Shareholders’ Equity and Noncontrolling Interests

Net income from continuing operations attributable to noncontrolling interests is classified below net income from continuing operations. 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 for the three months ended June 30, 2021 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of March 31, 2021	599.2	$	0.6	(2.1)	$	(117.4)	$	2,105.7	$	3,807.1	$	(335.0)	$	60.7	$	5,521.7
Net income										369.8				1.8		371.6
Other comprehensive income (loss)												34.7		1.0		35.7
Distributions to shareholders of noncontrolling interests														(0.7)		(0.7)
Purchase of treasury stock				(2.5)		(167.3)										(167.3)
Retirement of treasury stock	(2.5)		—	2.5		167.3				(167.3)						—
Stock options exercised	2.6		—	0.3		17.3		73.2		(6.6)						83.9
Dividends declared ($0.145 per common share)										(86.6)						(86.6)
Stock-based compensation expense								20.0								20.0
Balance as of June 30, 2021	599.3	$	0.6	(1.8)	$	(100.1)	$	2,198.9	$	3,916.4	$	(300.3)	$	62.8	$	5,778.3

A rollforward of consolidated changes in equity for the six months ended June 30, 2021 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of December 31, 2020	600.7	$	0.6	(2.0)	$	(111.1)	$	2,068.1	$	3,705.4	$	(278.1)	$	67.0	$	5,451.9
Net income										699.3				4.0		703.3
Other comprehensive income (loss)												(22.2)		0.8		(21.4)
Acquisitions resulting in noncontrolling interest														1.8		1.8
Purchase of noncontrolling interest								2.5						(7.3)		(4.8)
Distributions to shareholders of noncontrolling interests														(3.5)		(3.5)
Purchase of treasury stock				(4.9)		(320.1)										(320.1)
Retirement of treasury stock	(4.6)		—	4.6		300.3				(300.3)						—
Stock options exercised	3.2		—	0.5		30.8		89.3		(14.8)						105.3
Dividends declared ($0.29 per common share)										(173.2)						(173.2)
Stock-based compensation expense								39.0								39.0
Balance as of June 30, 2021	599.3	$	0.6	(1.8)	$	(100.1)	$	2,198.9	$	3,916.4	$	(300.3)	$	62.8	$	5,778.3

A rollforward of consolidated changes in equity for the three months ended June 30, 2020 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of March 31, 2020	593.2	$	0.6	(1.4)	$	(58.5)	$	1,720.3	$	3,248.5	$	(525.1)	$	59.9	$	4,445.7
Net income										257.7				2.8		260.5
Other comprehensive income (loss)												30.5		0.3		30.8
Acquisitions resulting in noncontrolling interest														0.3		0.3
Distributions to shareholders of noncontrolling interests														(1.6)		(1.6)
Purchase of treasury stock				—		—										—
Retirement of treasury stock	—		—	—		—				—						—
Stock options exercised	3.9		—	0.9		37.5		97.3		(12.2)						122.6
Dividends declared ($0.125 per common share)										(74.6)						(74.6)
Stock-based compensation expense								16.6								16.6
Balance as of June 30, 2020	597.1	$	0.6	(0.5)	$	(21.0)	$	1,834.2	$	3,419.4	$	(494.6)	$	61.7	$	4,800.3

A rollforward of consolidated changes in equity for the six months ended June 30, 2020 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of December 31, 2019	597.4	$	0.6	(1.6)	$	(70.8)	$	1,683.0	$	3,348.4	$	(430.9)	$	65.9	$	4,596.2
Cumulative effect of adoption of credit loss standard (ASU 2016-13)										(3.8)						(3.8)
Net income										499.8				3.9		503.7
Other comprehensive income (loss)												(63.7)		(0.8)		(64.5)
Acquisitions resulting in noncontrolling interest														0.3		0.3
Purchase of noncontrolling interest								(2.1)						(5.2)		(7.3)
Distributions to shareholders of noncontrolling interests														(2.4)		(2.4)
Purchase of treasury stock				(5.4)		(257.2)										(257.2)
Retirement of treasury stock	(5.4)		—	5.4		257.2				(257.2)						—
Stock options exercised	5.1		—	1.1		49.8		121.3		(19.2)						151.9
Dividends declared ($0.25 per common share)										(148.6)						(148.6)
Stock-based compensation expense								32.0								32.0
Balance as of June 30, 2020	597.1	$	0.6	(0.5)	$	(21.0)	$	1,834.2	$	3,419.4	$	(494.6)	$	61.7	$	4,800.3

Authorized Shares for Issuance

On May 19, 2021, the Company’s stockholders approved an amendment to the Company’s certificate of incorporation, which increased the total number of shares of Class A Common Stock, $0.001 par value (“Common Stock”) that the Company is authorized to issue to 2,000,000,000 shares, an increase of 1,000,000,000 shares from the amount previously authorized. The amendment was filed and became effective on May 21, 2021.

Stock Repurchase Programs

On April 24, 2018, the Company’s Board of Directors authorized a stock repurchase program under which the Company could purchase up to $2,000.0 of the Company’s Common Stock during the three-year period ending April 24, 2021 (the “2018 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). During the three and six months ended June 30, 2021, the Company repurchased 0.8 million and 3.1 million shares of its Common Stock for $51.0 and $203.8, respectively, under the 2018 Stock Repurchase Program. As a result of these purchases, the Company completed all purchases authorized under the 2018 Stock Repurchase Program and, therefore, the 2018 Stock Repurchase Program has terminated. Of the total repurchases made during the first six months of 2021, 0.3 million shares, or $19.8, have been retained in Treasury stock at the time of repurchase; the remaining 2.8 million shares, or $184.0, have been retired by the Company. The Company did not repurchase any of its Common Stock during the three months ended June 30, 2020. During the six months ended June 30, 2020, the Company repurchased 5.4 million shares of its Common Stock for $257.2 under the 2018 Stock Repurchase Program. All of the shares repurchased during the first six months of 2020 were retired by the Company.

On April 27, 2021, the Company’s Board of Directors authorized a new stock repurchase program under which the Company may purchase up to $2,000.0 of the Company’s Common Stock during the three-year period ending April 27, 2024 (the “2021 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Exchange Act. During the three months ended June 30, 2021, the Company repurchased 1.7 million shares of its Common Stock for $116.3 under the 2021 Stock Repurchase Program. All of the shares repurchased under the 2021 Stock Repurchase Program during the second quarter of 2021 have been or will be retired by the Company. From July 1, 2021 to July 27, 2021, the Company repurchased 0.7 million additional shares of its Common Stock for $48.8 under the 2021 Stock Repurchase Program, and has remaining authorization to purchase up to $1,834.9 of its Common Stock under the 2021 Stock Repurchase Program. The price and timing of any future purchases under the 2021 Stock Repurchase Program will depend on a number of factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Company’s common stock.

Dividends

Contingent upon declaration by the Company’s Board of Directors, the Company pays a quarterly dividend on shares of its Common Stock. The following table summarizes the dividends declared and paid for the three and six months ended June 30, 2021 and 2020:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Dividends declared	$	86.6	$	74.6	$	173.2	$	148.6
Dividends paid (including those declared in the prior year)		86.6		74.0		173.4		148.4

On October 20, 2020, the Company’s Board of Directors approved an increase to its quarterly dividend rate from $0.125 per share to $0.145 per share effective with dividends declared in the fourth quarter of 2020 and contingent upon declaration by the Company’s Board of Directors.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2021

Stock-Based Compensation

Stock-Based Compensation

Note 8—Stock-Based Compensation

For the three months ended June 30, 2021 and 2020, the Company’s Income from continuing operations before income taxes was reduced for stock-based compensation expense of $20.0 and $16.6, respectively. In addition, for the three months ended June 30, 2021 and 2020, the Company recognized aggregate income tax benefits of $21.8 and $14.3, respectively, in Provision for income taxes in the accompanying Condensed Consolidated Statements of Income associated with stock-based compensation. These aggregate income tax benefits during the three months ended June 30, 2021 and 2020 include excess tax benefits of $19.3 and $12.4, respectively, from option exercises.

For the six months ended June 30, 2021 and 2020, the Company’s Income from continuing operations before income taxes was reduced for stock-based compensation expense of $39.0 and $32.0, respectively. In addition, for the six months ended June 30, 2021 and 2020, the Company recognized aggregate income tax benefits of $26.4 and $21.1, respectively, in Provision for income taxes in the accompanying Condensed Consolidated Statements of Income associated with stock-based compensation. These aggregate income tax benefits during the six months ended June 30, 2021 and 2020 include excess tax benefits of $22.0 and $17.4, 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 60,000,000 shares. In March 2021, the Company’s Board of Directors 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 40,000,000 shares. The Amended 2017 Employee Option Plan was approved by the Company’s shareholders and became effective on May 19, 2021. As of June 30, 2021, there were 42,932,620 shares of Common Stock available for the granting of additional stock options under the Amended 2017 Employee 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 2017 Option Plan and the 2009 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 ten years from the date of grant.

Stock option activity for the three and six months ended June 30, 2021 was as follows:


				Weighted
				Average	Aggregate
		Weighted		Remaining	Intrinsic
		Average		Contractual	Value
	Options	Exercise Price		Term (in years)	(in millions)
Options outstanding at January 1, 2021	67,985,648	$	37.58	6.79	$	1,890.4
Options granted	215,080		64.69
Options exercised	(757,598)		28.12
Options forfeited	(31,160)		42.37
Options outstanding at March 31, 2021	67,411,970		37.77	6.57		1,901.0
Options granted	7,215,100		66.62
Options exercised	(2,882,332)		29.14
Options forfeited	(46,600)		49.05
Options outstanding at June 30, 2021	71,698,138	$	41.01	6.77	$	1,964.3
Vested and non-vested options expected to vest at June 30, 2021	68,155,502	$	40.59	6.69	$	1,896.0
Exercisable options at June 30, 2021	39,792,918	$	34.52	5.52	$	1,348.6

A summary of the status of the Company’s non-vested options as of June 30, 2021 and changes during the three and six months then ended is as follows:


		Weighted
		Average
		Fair Value at
	Options	Grant Date
Non-vested options at January 1, 2021	36,989,300	$	6.43
Options granted	215,080		12.11
Options vested	(91,200)		3.88
Options forfeited	(31,160)		5.77
Non-vested options at March 31, 2021	37,082,020		6.46
Options granted	7,215,100		13.29
Options vested	(12,345,300)		5.70
Options forfeited	(46,600)		7.97
Non-vested options at June 30, 2021	31,905,220	$	8.30

During the three and six months ended June 30, 2021 and 2020, the following activity occurred under the Company’s option plans:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Total intrinsic value of stock options exercised	$	109.6	$	125.2	$	138.5	$	170.3
Total fair value of stock options vested		70.4		60.8		70.8		61.4

As of June 30, 2021, the total compensation cost related to non-vested options not yet recognized was approximately $234.3 with a weighted average expected amortization period of 3.72 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 Shares

In 2012, the Company adopted the 2012 Restricted Stock Plan for Directors of Amphenol Corporation (the “2012 Directors Restricted Stock Plan”). The 2012 Directors Restricted Stock Plan is administered by the Company’s Board of Directors. As of June 30, 2021, the number of restricted shares available for grant under the 2012 Directors Restricted Stock Plan was 143,196. Restricted shares granted under the 2012 Directors Restricted Stock Plan generally vest on the first anniversary of the grant date. Grants under the 2012 Directors Restricted Stock Plan entitle the holder to receive shares of the Company’s Common Stock without payment.

Restricted share activity for the three and six months ended June 30, 2021 was as follows:


				Weighted Average
				Remaining
	Restricted	Fair Value at		Amortization
	Shares	Grant Date		Term (in years)
Restricted shares outstanding at January 1, 2021	26,350	$	45.55	0.38
Restricted shares granted	—		—
Restricted shares outstanding at March 31, 2021	26,350		45.55	0.13
Shares vested and issued	(27,272)		45.80
Restricted shares granted	20,146		65.96
Restricted shares outstanding at June 30, 2021	19,224	$	66.59	0.88

As of June 30, 2021, the total compensation cost related to non-vested restricted shares not yet recognized was approximately $1.1 (with a weighted average expected amortization period of 0.88 years).

Earnings Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share

Earnings Per Share

Note 9—Earnings Per Share

Basic earnings per 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. A reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding, along with the earnings per share (basic and

diluted) for the three and six months ended June 30, 2021 and 2020 is as follows (note - per share amounts may not add due to rounding):


	Three Months Ended June 30,				Six Months Ended June 30,
(dollars and shares in millions, except per share data)	2021		2020		2021		2020
Net income attributable to Amphenol Corporation shareholders:
Net income from continuing operations attributable to Amphenol Corporation	$	367.2	$	257.7	$	696.7	$	499.8
Income from discontinued operations attributable to Amphenol Corporation, net of income taxes of ($0.3)		2.6		—		2.6		—
Net income attributable to Amphenol Corporation	$	369.8	$	257.7	$	699.3	$	499.8

Weighted average common shares outstanding — Basic		597.4		593.3		597.9		594.1
Effect of dilutive stock options		26.4		14.7		26.0		16.4
Weighted average common shares outstanding — Diluted		623.8		608.0		623.9		610.5

Net income per common share attributable to Amphenol Corporation — Basic:
Continuing operations	$	0.61	$	0.43	$	1.17	$	0.84
Discontinued operations, net of income taxes		—		—		—		—
Net income attributable to Amphenol Corporation — Basic	$	0.62	$	0.43	$	1.17	$	0.84

Net income per common share attributable to Amphenol Corporation — Diluted:
Continuing operations	$	0.59	$	0.42	$	1.12	$	0.82
Discontinued operations, net of income taxes		—		—		—		—
Net income attributable to Amphenol Corporation — Diluted	$	0.59	$	0.42	$	1.12	$	0.82

Excluded from the computations above were anti-dilutive common shares (primarily related to outstanding stock options) of 3.8 million and 27.3 million for the three months ended June 30, 2021 and 2020, respectively. Excluded from the computations above were anti-dilutive common shares (primarily related to outstanding stock options) of 2.2 million and 15.7 million for the six months ended June 30, 2021 and 2020, respectively.

Benefit Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2021

Benefit Plans and Other Postretirement Benefits

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. 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. 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. Plans and are covered by defined contribution plans. 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 Company’s net cost for pension benefits, of the Plans for the three and six months ended June 30, 2021 and 2020:


	Pension Benefits
Three Months Ended June 30:	2021		2020
Service cost	$	1.9	$	1.8
Interest cost		2.8		4.1
Expected return on plan assets		(7.8)		(9.3)
Amortization of prior service cost		0.5		0.6
Amortization of net actuarial losses		6.2		6.3
Net pension expense	$	3.6	$	3.5

Six Months Ended June 30:
Service cost	$	3.8	$	3.8
Interest cost		5.6		8.3
Expected return on plan assets		(15.6)		(18.6)
Amortization of prior service cost		1.0		1.1
Amortization of net actuarial losses		12.4		12.5
Net pension expense	$	7.2	$	7.1

Based on the Company’s current investment strategy for its U.S. Plans, the Company’s expected long-term rate of return assumption to determine net periodic pension expense for 2021 is 6.0%. 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.

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 6% of eligible compensation. During the six months ended June 30, 2021 and 2020, the Company provided matching contributions to the U.S. defined contribution plans of approximately $8.4 and $6.7, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions

6 Months Ended

Jun. 30, 2021

Acquisitions

Acquisitions

Note 11—Acquisitions

2021 Acquisitions

During the first six months of 2021, the Company completed six acquisitions for approximately $1,531.0, net of cash acquired. Five of the acquisitions have been included in the Interconnect Products and Assemblies segment, while one acquisition has been included in the Cable Products and Solutions segment. The Company is in the process of completing its analyses of the fair value of the assets acquired and liabilities assumed. The Company anticipates that the final assessments of values will not differ materially from the preliminary assessments. The operating results of the 2021 acquisitions have been 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 allocation related to these acquisitions, has not been presented, since these acquisitions were not material, either individually or in the aggregate, to the Company’s financial results.

Acquisition of MTS Systems Corporation

On December 9, 2020, Amphenol announced that the Company entered into a definitive agreement under which Amphenol would acquire MTS Systems Corporation (Nasdaq: MTSC) (“MTS”) for $58.50 per share in cash. MTS is a leading global supplier of precision sensors, advanced test systems and motion simulators. MTS was historically organized into two business segments: Sensors (“MTS Sensors”) and Test & Simulation (“MTS T&S”). The MTS Sensors segment represents a highly complementary offering of high-technology, harsh environment sensors sold into diverse end markets and applications. The MTS Sensors business further expands the Company’s range of sensor and sensor-based products across a wide array of industries and is reported as part of our continuing operations and within

our Interconnect Products and Assemblies segment. On January 19, 2021 and prior to the closing of the MTS acquisition, the Company entered into a definitive agreement to sell the MTS T&S business to Illinois Tool Works Inc. (“ITW”) (NYSE: ITW). Refer to Note 12 herein for further details related to the planned divestiture of the MTS T&S business.

On April 7, 2021, the Company completed its acquisition of MTS for a purchase price of approximately $1,300, net of cash acquired and including the repayment of certain outstanding debt and liabilities at closing. The MTS acquisition was funded through a combination of borrowings under the U.S. Commercial Paper Program, as discussed in Note 4 herein, and cash and cash equivalents on hand. In addition to the purchase price, the Company also assumed MTS’s then-outstanding $350.0 principal amount of senior notes due August 15, 2027, which the Company repaid and settled shortly after the closing for approximately $387.3, which included accrued interest and a make-whole premium incurred as a result of the early extinguishment of the senior notes.

The Company has begun the acquisition accounting related to MTS, specifically the allocation of the MTS purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed of MTS based upon their estimated fair values. This preliminary purchase price allocation is being performed separately for the MTS Sensors business and the MTS T&S business, the latter of which is being accounted for as discontinued operations and whose assets acquired, including associated goodwill, and liabilities assumed are reported as current assets held for sale and liabilities held for sale on the accompanying Condensed Consolidated Balance Sheets.

While the Company is in the process of completing its analyses of the fair value of the tangible and identifiable intangible assets acquired and liabilities assumed, as of June 30, 2021, the MTS acquisition resulted in the recognition of $740.3 of goodwill, $54.0 of indefinite-lived tradename intangible assets and $183.4 of definite-lived intangible assets, each associated with the MTS Sensors business. The definite-lived intangible assets are comprised of customer relationships, proprietary technology, and backlog of $128.1, $39.1 and $16.2, respectively, and are amortized based upon the underlying pattern of economic benefit with weighted-average useful lives of 11 years, 15 years and 0.25 years, respectively. Other than these intangible assets, the remainder of the purchase price has been allocated to other identifiable assets acquired and liabilities assumed. As part of acquisition accounting, the Company also recorded $61.0 of deferred tax liabilities associated with certain basis differences, which the Company anticipates recovery for tax purposes by the end of 2021. 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 assembled workforce and the anticipated cost savings and efficiencies associated with the integration of MTS, along with other intangible assets acquired that do not qualify for separate recognition. The Company does not expect any of the recognized goodwill associated with the acquisition of MTS to be deductible for tax purposes. Since the current purchase price allocation is based on preliminary assessments made by management as of June 30, 2021, the acquisition accounting for MTS is subject to final adjustment and it is possible that the final assessment of values may differ from this preliminary assessment. With the exception of the MTS T&S business, which has been classified and reported as discontinued operations as discussed further in Note 12 herein, the operating results for MTS have been included within continuing operations in the Condensed Consolidated Statements of Income since the acquisition date.

2020 Acquisitions

During the year ended December 31, 2020, the Company completed two acquisitions, which are included in the Interconnect Products and Assemblies segment, for approximately $50.4, net of cash acquired. While the Company has completed the acquisition accounting for one of the acquisitions in 2020, the Company is in the process of completing the analyses of the fair value of the assets acquired and liabilities assumed for the other 2020 acquisition. The Company anticipates that the final assessments of values will not differ materially from the preliminary assessments. Pro forma financial information, as well as further details regarding the purchase price allocation related to these acquisitions, has not been presented, since these acquisitions were not material, either individually or in the aggregate, to the Company’s financial results.

Acquisition-related Expenses

During the three and six months ended June 30, 2021, the Company incurred $55.4 ($44.6 after-tax) of acquisition-related expenses, primarily comprised of transaction, severance, restructuring and certain non-cash costs related to the MTS acquisition. Such acquisition-related expenses are separately presented in the accompanying Condensed Consolidated Statements of Income.

Discontinued Operations

6 Months Ended

Jun. 30, 2021

Discontinued Operations

Discontinued Operations

Note 12—Discontinued Operations

Planned Divestiture of MTS T&S Business

On January 19, 2021 and prior to the closing of the MTS acquisition, the Company entered into a definitive agreement to sell the MTS T&S business to ITW. The agreed-upon sale price is approximately $750, subject to certain post-closing adjustments and excluding any outstanding net debt assumed by Amphenol related to the MTS T&S business. The Company expects to close on the sale of the MTS T&S business upon the receipt of all required regulatory approvals and the satisfaction of other customary closing conditions, which is expected to be within one year of the date of the acquisition of MTS.

Since the MTS T&S business, which was part of the recent MTS acquisition, has never been nor is expected to ever be considered part of our continuing operations, the Company classifies and reports the financial results and related cash flows of the MTS T&S business as discontinued operations, effective as of the MTS acquisition date, in the accompanying Condensed Consolidated Financial Statements. The Company will continue to report the MTS T&S business as a discontinued operation until the business is sold to ITW as currently anticipated. As discussed in Note 11 herein, the purchase price allocation associated with the MTS T&S business is being performed separately from the MTS Sensors business, as the MTS T&S business meets the “held for sale” accounting criteria. These assets acquired and liabilities assumed resulting from the MTS T&S purchase price allocation are measured and recorded at fair value less costs to sell as of the date of the MTS acquisition; such accounts are included in Current assets held for sale and Current liabilities held for sale, respectively, in the Condensed Consolidated Balance Sheets, each presented as separate single line items in the Condensed Consolidated Balance Sheets as of June 30, 2021. The Company expects to close on the sale of the MTS T&S business within one year of the date of the acquisition of MTS, and as such, these associated assets held for sale and liabilities held for sale have been classified as current as of June 30, 2021. The Company also ceased recording depreciation and amortization on the held for sale assets as of the MTS acquisition date.

The Company did not assign the MTS T&S business to either of our two reportable business segments due to its planned sale. Amphenol will not have any continuing involvement with the MTS T&S business after the date of its divestiture.

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Note 13—Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill by segment were as follows:


	Interconnect		Cable
	Products and		Products and
	Assemblies		Solutions		Total
Goodwill at December 31, 2020	$	4,874.5	$	157.6	$	5,032.1
Acquisition-related		876.0		11.6		887.6
Foreign currency translation		(28.1)		0.1		(28.0)
Goodwill at June 30, 2021	$	5,722.4	$	169.3	$	5,891.7

The increase in goodwill during the first six months of 2021 was primarily driven by the acquisition of MTS, along with the other acquisitions that closed during the period, as described in Note 11 herein.

Other than goodwill noted above, the Company’s intangible assets as of June 30, 2021 and December 31, 2020 were as follows:


		June 30, 2021						December 31, 2020
	Weighted	Gross				Net		Gross				Net
	Average	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Life (years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Customer relationships	10	$	614.6	$	334.9	$	279.7	$	456.6	$	313.6	$	143.0
Proprietary technology	12		195.2		94.5		100.7		156.2		88.1		68.1
Backlog and other	1		65.9		65.6		0.3		49.7		49.4		0.3
Total intangible assets (definite-lived)	9		875.7		495.0		380.7		662.5		451.1		211.4

Trade names (indefinite-lived)			240.1				240.1		186.1				186.1
		$	1,115.8	$	495.0	$	620.8	$	848.6	$	451.1	$	397.5

The increase in the gross carrying amount of intangible assets in the first six months of 2021 was driven by certain customer relationships recognized as a result of the acquisition accounting associated with our 2021 acquisitions, primarily from the MTS acquisition. Amortization expense for the three months ended June 30, 2021 and 2020 was approximately $32.6 and $12.5, respectively. Amortization expense for the six months ended June 30, 2021 and 2020 was approximately $44.9 and $25.4, respectively. Amortization expense for the three and six months ended June 30, 2021 includes $16.2 related to the amortization of acquired backlog resulting from the MTS acquisition. As of June 30, 2021, amortization expense relating to the Company’s current intangible assets estimated for the remainder of 2021 is approximately $32.1 and for each of the next five fiscal years is approximately $57.5 in 2022, $54.7 in 2023, $48.9 in 2024, $39.5 in 2025 and $37.8 in 2026.

Reportable Business Segments

6 Months Ended

Jun. 30, 2021

Reportable Business Segments

Reportable Business Segments

Note 14—Reportable Business Segments

The Company has two reportable business segments: (i) Interconnect Products and Assemblies and (ii) Cable Products and Solutions. The Company organizes its reportable business segments based upon similar economic characteristics and business groupings of products, services, and customers, and do not include any aggregated operating segments. These reportable business segments are determined based upon how the Company operates its businesses, assesses operating performance, makes resource allocation decisions, and communicates results, outlook and strategy to our Board of Directors and shareholders. The Interconnect Products and Assemblies segment primarily designs, manufactures and markets a broad range of connector and connector systems, value-add products and other products, including antennas and sensors, used in a broad range of applications in a diverse set of end markets. The Cable Products and Solutions segment primarily designs, manufactures and markets cable, value-add products and components for use primarily in the broadband communications and information technology markets as well as certain applications in other markets. 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 2020 Annual Report. The Company evaluates the performance of the segments and allocates resources to them based on, among other things, profit or loss from operations before interest, headquarters’ expense allocations, stock-based compensation expense, income taxes, amortization related to certain intangible assets and nonrecurring gains and losses.

The segment results for the three and six months ended June 30, 2021 and 2020 are as follows:


	Interconnect Products				Cable Products
	and Assemblies				and Solutions				Corporate / Other⁽¹⁾				Total Consolidated
Three Months Ended June 30:	2021		2020		2021		2020		2021		2020		2021		2020
Net sales:
External	$	2,541.3	$	1,898.5	$	112.6	$	89.0	$	—	$	—	$	2,653.9	$	1,987.5
Intersegment		27.0		12.5		14.1		8.9		—		—		41.1		21.4
Segment operating income		559.7		379.5		6.9		8.4						566.6		387.9

Six Months Ended June 30:
Net sales:
External	$	4,821.4	$	3,677.5	$	209.6	$	172.0	$	—	$	—	$	5,031.0	$	3,849.5
Intersegment		44.8		21.0		25.9		17.7		—		—		70.7		38.7
Segment operating income		1,049.0		719.2		15.4		14.8						1,064.4		734.0

(1)	Corporate / Other is not a reportable business segment; the reconciliation of segment operating income to consolidated results is included in the table below.

A reconciliation of segment operating income to consolidated income from continuing operations before income taxes for the three and six months ended June 30, 2021 and 2020 is summarized as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Segment operating income	$	566.6	$	387.9	$	1,064.4	$	734.0
Stock-based compensation expense		(20.0)		(16.6)		(39.0)		(32.0)
Acquisition-related expenses		(55.4)		—		(55.4)		—
Other operating expenses		(15.0)		(13.9)		(29.0)		(27.7)
Interest expense		(29.1)		(30.2)		(57.7)		(59.0)
Other income (expense), net		—		1.3		(0.4)		2.4
Income from continuing operations before income taxes	$	447.1	$	328.5	$	882.9	$	617.7

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Revenue Recognition

6 Months Ended

Jun. 30, 2021

Revenue Recognition

Revenue Recognition

Note 15—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 and six months ended June 30, 2021 and 2020, 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 Company’s Condensed Consolidated Balance Sheets were not significant as of June 30, 2021 and December 31, 2020. These amounts are recorded in the accompanying Condensed Consolidated Balance Sheets within Prepaid expenses and other current assets or Other accrued expenses as of June 30, 2021 and December 31, 2020.

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 June 30, 2021.

While the Company typically offers standard product warranty coverage which 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 June 30, 2021 and December 31, 2020, and related warranty expense for the three and six months ended June 30, 2021 and 2020, have not been and were not material in the accompanying Condensed Consolidated Financial Statements.

Disaggregation of Net Sales

The following tables show 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 and six months ended June 30, 2021 and 2020:


	Interconnect Products				Cable Products				Total Reportable
	and Assemblies				and Solutions				Business Segments
Three Months Ended June 30,	2021		2020		2021		2020		2021		2020
Net sales by:
Sales channel:
End customers and contract manufacturers	$	2,094.9	$	1,574.1	$	92.1	$	76.8	$	2,187.0	$	1,650.9
Distributors and resellers		446.4		324.4		20.5		12.2		466.9		336.6
	$	2,541.3	$	1,898.5	$	112.6	$	89.0	$	2,653.9	$	1,987.5

Geography:
United States	$	721.8	$	515.8	$	57.3	$	54.0	$	779.1	$	569.8
China		687.6		642.7		2.6		1.7		690.2		644.4
Other foreign locations		1,131.9		740.0		52.7		33.3		1,184.6		773.3
	$	2,541.3	$	1,898.5	$	112.6	$	89.0	$	2,653.9	$	1,987.5

Six Months Ended June 30,
Net sales by:
Sales channel:
End customers and contract manufacturers	$	4,025.9	$	3,062.7	$	174.4	$	143.0	$	4,200.3	$	3,205.7
Distributors and resellers		795.5		614.8		35.2		29.0		830.7		643.8
	$	4,821.4	$	3,677.5	$	209.6	$	172.0	$	5,031.0	$	3,849.5

Geography:
United States	$	1,343.5	$	1,087.2	$	109.5	$	98.0	$	1,453.0	$	1,185.2
China		1,345.3		1,059.6		5.8		2.4		1,351.1		1,062.0
Other foreign locations		2,132.6		1,530.7		94.3		71.6		2,226.9		1,602.3
	$	4,821.4	$	3,677.5	$	209.6	$	172.0	$	5,031.0	$	3,849.5

Net sales by geographic area are based on the customer location to which the product is shipped.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies

Commitments and Contingencies

Note 16—Commitments and Contingencies

The Company has been named as a defendant in several legal actions arising from normal business activities. The Company records a loss contingency liability when a loss is considered probable and the amount can be reasonably estimated. Although the potential liability with respect to certain of such legal actions cannot be reasonably estimated, none of such matters 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.

In August 2018, the Company received a subpoena from the U.S. Department of Defense, Office of the Inspector General, requesting documents pertaining to certain products manufactured by the Company’s Military and Aerospace Group that are purchased or used by the U.S. government. This matter is ongoing and the Company is cooperating with the request. The Company is currently unable to estimate the timing or outcome of the matter.

From December 2019 through October 2020, the Company has been named as one of several defendants in four separate lawsuits filed in the State of Indiana. The lawsuits relate to a manufacturing site in Franklin, Indiana (the “Site”) where the Company has been conducting an environmental clean-up effort under the direction of the United States Environmental Protection Agency (the “EPA”). The Site was shut down in 1983, more than three years before the Company acquired the Site as part of a larger acquisition that led to the establishment of the Company’s business in 1987 (the “Acquisition”). In connection with the Acquisition, the Company agreed, and has continued, to work closely with the EPA regarding the ongoing clean-up effort at the Site, subject to an indemnity from the seller (the “Seller”). In 1989, the Company sold the property where the Site is located. The lawsuits collectively seek, among other things, compensation for personal injuries and for past, present and future medical expenses, compensation for loss of property values near the Site and costs related to medical monitoring for individuals living close to the Site, in each case arising from alleged exposure to hazardous chemicals. The Company denies any wrongdoing and is defending each of the above described lawsuits. All the costs incurred relating to these lawsuits are reimbursed by the Seller based on the Seller’s indemnification obligations entered into in connection with the Acquisition (the “1987 Indemnification Agreement”). In addition, the environmental investigation, remediation and monitoring activities undertaken by the Company relating to the Site are reimbursed under the 1987 Indemnification Agreement. As a result, the Company does not believe that the costs associated with these lawsuits or the resolution of the related environmental matters will have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows.

In March 2021, a non-material customer of the Company filed a formal request for arbitration against the Company relating to a product sold to such customer that the customer alleges did not meet the agreed upon product specification. The customer is pursuing breach of warranty claims against the Company, among other assertions, and is seeking damages relating to its estimated costs of replacing the product. While the customer has claimed damages of approximately €80, the arbitrator will have discretion to determine the actual amount of damages as well as the apportionment of responsibility between the parties. The Company has denied that its product caused the damages, that its product did not meet the agreed upon specifications and that the claimed damages are appropriate, and is vigorously defending itself in the arbitration.

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.

Inventories (Tables)

6 Months Ended

Jun. 30, 2021

Inventories

Schedule of Inventories



	June 30,		December 31,
	2021		2020
Raw materials and supplies	$	742.6	$	587.4
Work in process		509.1		410.7
Finished goods		519.7		464.1
	$	1,771.4	$	1,462.2

Debt (Tables)

6 Months Ended

Jun. 30, 2021

Debt

Schedule of debt


	June 30, 2021				December 31, 2020
	Carrying		Approximate		Carrying		Approximate
	Amount		Fair Value		Amount		Fair Value
Revolving Credit Facility	$	—	$	—	$	—	$	—
U.S. Commercial Paper Program		1,401.0		1,401.0		—		—
Euro Commercial Paper Program		—		—		—		—
3.125% Senior Notes due September 2021		227.7		228.5		227.7		231.6
4.00% Senior Notes due February 2022		295.0		298.5		294.9		303.6
3.20% Senior Notes due April 2024		349.8		371.4		349.8		378.1
2.050% Senior Notes due March 2025		399.5		414.1		399.4		420.7
0.750% Euro Senior Notes due May 2026		590.8		611.0		608.4		633.6
2.000% Euro Senior Notes due October 2028		590.7		664.6		608.4		694.9
4.350% Senior Notes due June 2029		499.6		585.4		499.6		608.4
2.800% Senior Notes due February 2030		899.4		952.3		899.4		987.8
Other debt		7.6		7.6		6.7		6.7
Less unamortized deferred debt issuance costs		(24.8)		—		(27.8)		—
Total debt		5,236.3		5,534.4		3,866.5		4,265.4
Less current portion		526.1		530.4		230.3		234.2
Total long-term debt	$	4,710.2	$	5,004.0	$	3,636.2	$	4,031.2

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

Fair values of financial and non-financial assets and liabilities


	Fair Value Measurements
			Quoted Prices in		Significant		Significant
			Active Markets		Observable		Unobservable
			for Identical		Inputs		Inputs
	Total		Assets (Level 1)		(Level 2)		(Level 3)
June 30, 2021:
Short-term investments	$	33.2	$	33.2	$	—	$	—
Forward contracts		(13.9)		—		(13.9)		—
Total	$	19.3	$	33.2	$	(13.9)	$	—

December 31, 2020:
Short-term investments	$	36.1	$	36.1	$	—	$	—
Forward contracts		(2.7)		—		(2.7)		—
Total	$	33.4	$	36.1	$	(2.7)	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Income Taxes

Schedule of provision for income taxes and effective tax rate


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2021			2020			2021			2020
Provision for income taxes	$	(78.1)		$	(68.0)		$	(182.2)		$	(114.0)
Effective tax rate		17.5	%		20.7	%		20.6	%		18.5	%

Shareholders' Equity and Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2021

Shareholders' Equity and Noncontrolling Interests

Rollforward of consolidated changes in equity

A rollforward of consolidated changes in equity for the three months ended June 30, 2021 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of March 31, 2021	599.2	$	0.6	(2.1)	$	(117.4)	$	2,105.7	$	3,807.1	$	(335.0)	$	60.7	$	5,521.7
Net income										369.8				1.8		371.6
Other comprehensive income (loss)												34.7		1.0		35.7
Distributions to shareholders of noncontrolling interests														(0.7)		(0.7)
Purchase of treasury stock				(2.5)		(167.3)										(167.3)
Retirement of treasury stock	(2.5)		—	2.5		167.3				(167.3)						—
Stock options exercised	2.6		—	0.3		17.3		73.2		(6.6)						83.9
Dividends declared ($0.145 per common share)										(86.6)						(86.6)
Stock-based compensation expense								20.0								20.0
Balance as of June 30, 2021	599.3	$	0.6	(1.8)	$	(100.1)	$	2,198.9	$	3,916.4	$	(300.3)	$	62.8	$	5,778.3

A rollforward of consolidated changes in equity for the six months ended June 30, 2021 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of December 31, 2020	600.7	$	0.6	(2.0)	$	(111.1)	$	2,068.1	$	3,705.4	$	(278.1)	$	67.0	$	5,451.9
Net income										699.3				4.0		703.3
Other comprehensive income (loss)												(22.2)		0.8		(21.4)
Acquisitions resulting in noncontrolling interest														1.8		1.8
Purchase of noncontrolling interest								2.5						(7.3)		(4.8)
Distributions to shareholders of noncontrolling interests														(3.5)		(3.5)
Purchase of treasury stock				(4.9)		(320.1)										(320.1)
Retirement of treasury stock	(4.6)		—	4.6		300.3				(300.3)						—
Stock options exercised	3.2		—	0.5		30.8		89.3		(14.8)						105.3
Dividends declared ($0.29 per common share)										(173.2)						(173.2)
Stock-based compensation expense								39.0								39.0
Balance as of June 30, 2021	599.3	$	0.6	(1.8)	$	(100.1)	$	2,198.9	$	3,916.4	$	(300.3)	$	62.8	$	5,778.3

A rollforward of consolidated changes in equity for the three months ended June 30, 2020 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of March 31, 2020	593.2	$	0.6	(1.4)	$	(58.5)	$	1,720.3	$	3,248.5	$	(525.1)	$	59.9	$	4,445.7
Net income										257.7				2.8		260.5
Other comprehensive income (loss)												30.5		0.3		30.8
Acquisitions resulting in noncontrolling interest														0.3		0.3
Distributions to shareholders of noncontrolling interests														(1.6)		(1.6)
Purchase of treasury stock				—		—										—
Retirement of treasury stock	—		—	—		—				—						—
Stock options exercised	3.9		—	0.9		37.5		97.3		(12.2)						122.6
Dividends declared ($0.125 per common share)										(74.6)						(74.6)
Stock-based compensation expense								16.6								16.6
Balance as of June 30, 2020	597.1	$	0.6	(0.5)	$	(21.0)	$	1,834.2	$	3,419.4	$	(494.6)	$	61.7	$	4,800.3

A rollforward of consolidated changes in equity for the six months ended June 30, 2020 is as follows:


	Amphenol Corporation Shareholders
											Accumulated
	Common Stock			Treasury Stock							Other
	Shares			Shares			Additional		Retained		Comprehensive		Noncontrolling		Total
	(in millions)	Amount		(in millions)	Amount		Paid-In Capital		Earnings		Loss		Interests		Equity

Balance as of December 31, 2019	597.4	$	0.6	(1.6)	$	(70.8)	$	1,683.0	$	3,348.4	$	(430.9)	$	65.9	$	4,596.2
Cumulative effect of adoption of credit loss standard (ASU 2016-13)										(3.8)						(3.8)
Net income										499.8				3.9		503.7
Other comprehensive income (loss)												(63.7)		(0.8)		(64.5)
Acquisitions resulting in noncontrolling interest														0.3		0.3
Purchase of noncontrolling interest								(2.1)						(5.2)		(7.3)
Distributions to shareholders of noncontrolling interests														(2.4)		(2.4)
Purchase of treasury stock				(5.4)		(257.2)										(257.2)
Retirement of treasury stock	(5.4)		—	5.4		257.2				(257.2)						—
Stock options exercised	5.1		—	1.1		49.8		121.3		(19.2)						151.9
Dividends declared ($0.25 per common share)										(148.6)						(148.6)
Stock-based compensation expense								32.0								32.0
Balance as of June 30, 2020	597.1	$	0.6	(0.5)	$	(21.0)	$	1,834.2	$	3,419.4	$	(494.6)	$	61.7	$	4,800.3

Schedules of dividends


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Dividends declared	$	86.6	$	74.6	$	173.2	$	148.6
Dividends paid (including those declared in the prior year)		86.6		74.0		173.4		148.4

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Stock-Based Compensation

Schedule of stock option activity


				Weighted
				Average	Aggregate
		Weighted		Remaining	Intrinsic
		Average		Contractual	Value
	Options	Exercise Price		Term (in years)	(in millions)
Options outstanding at January 1, 2021	67,985,648	$	37.58	6.79	$	1,890.4
Options granted	215,080		64.69
Options exercised	(757,598)		28.12
Options forfeited	(31,160)		42.37
Options outstanding at March 31, 2021	67,411,970		37.77	6.57		1,901.0
Options granted	7,215,100		66.62
Options exercised	(2,882,332)		29.14
Options forfeited	(46,600)		49.05
Options outstanding at June 30, 2021	71,698,138	$	41.01	6.77	$	1,964.3
Vested and non-vested options expected to vest at June 30, 2021	68,155,502	$	40.59	6.69	$	1,896.0
Exercisable options at June 30, 2021	39,792,918	$	34.52	5.52	$	1,348.6

Summary of status of non-vested options and changes during the year


		Weighted
		Average
		Fair Value at
	Options	Grant Date
Non-vested options at January 1, 2021	36,989,300	$	6.43
Options granted	215,080		12.11
Options vested	(91,200)		3.88
Options forfeited	(31,160)		5.77
Non-vested options at March 31, 2021	37,082,020		6.46
Options granted	7,215,100		13.29
Options vested	(12,345,300)		5.70
Options forfeited	(46,600)		7.97
Non-vested options at June 30, 2021	31,905,220	$	8.30

Summary of activity in the option plans


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Total intrinsic value of stock options exercised	$	109.6	$	125.2	$	138.5	$	170.3
Total fair value of stock options vested		70.4		60.8		70.8		61.4

Schedule of restricted share activity


				Weighted Average
				Remaining
	Restricted	Fair Value at		Amortization
	Shares	Grant Date		Term (in years)
Restricted shares outstanding at January 1, 2021	26,350	$	45.55	0.38
Restricted shares granted	—		—
Restricted shares outstanding at March 31, 2021	26,350		45.55	0.13
Shares vested and issued	(27,272)		45.80
Restricted shares granted	20,146		65.96
Restricted shares outstanding at June 30, 2021	19,224	$	66.59	0.88

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share

Schedule of the reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding


	Three Months Ended June 30,				Six Months Ended June 30,
(dollars and shares in millions, except per share data)	2021		2020		2021		2020
Net income attributable to Amphenol Corporation shareholders:
Net income from continuing operations attributable to Amphenol Corporation	$	367.2	$	257.7	$	696.7	$	499.8
Income from discontinued operations attributable to Amphenol Corporation, net of income taxes of ($0.3)		2.6		—		2.6		—
Net income attributable to Amphenol Corporation	$	369.8	$	257.7	$	699.3	$	499.8

Weighted average common shares outstanding — Basic		597.4		593.3		597.9		594.1
Effect of dilutive stock options		26.4		14.7		26.0		16.4
Weighted average common shares outstanding — Diluted		623.8		608.0		623.9		610.5

Net income per common share attributable to Amphenol Corporation — Basic:
Continuing operations	$	0.61	$	0.43	$	1.17	$	0.84
Discontinued operations, net of income taxes		—		—		—		—
Net income attributable to Amphenol Corporation — Basic	$	0.62	$	0.43	$	1.17	$	0.84

Net income per common share attributable to Amphenol Corporation — Diluted:
Continuing operations	$	0.59	$	0.42	$	1.12	$	0.82
Discontinued operations, net of income taxes		—		—		—		—
Net income attributable to Amphenol Corporation — Diluted	$	0.59	$	0.42	$	1.12	$	0.82

Benefit Plans and Other Postretirement Benefits (Tables)

6 Months Ended

Jun. 30, 2021

Benefit Plans and Other Postretirement Benefits

Schedule of components of net pension expense


	Pension Benefits
Three Months Ended June 30:	2021		2020
Service cost	$	1.9	$	1.8
Interest cost		2.8		4.1
Expected return on plan assets		(7.8)		(9.3)
Amortization of prior service cost		0.5		0.6
Amortization of net actuarial losses		6.2		6.3
Net pension expense	$	3.6	$	3.5

Six Months Ended June 30:
Service cost	$	3.8	$	3.8
Interest cost		5.6		8.3
Expected return on plan assets		(15.6)		(18.6)
Amortization of prior service cost		1.0		1.1
Amortization of net actuarial losses		12.4		12.5
Net pension expense	$	7.2	$	7.1

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Other Intangible Assets

Schedule of changes in the carrying amount of goodwill by segment


	Interconnect		Cable
	Products and		Products and
	Assemblies		Solutions		Total
Goodwill at December 31, 2020	$	4,874.5	$	157.6	$	5,032.1
Acquisition-related		876.0		11.6		887.6
Foreign currency translation		(28.1)		0.1		(28.0)
Goodwill at June 30, 2021	$	5,722.4	$	169.3	$	5,891.7

Summary of the Company's amortizable intangible assets

Other than goodwill noted above, the Company’s intangible assets as of June 30, 2021 and December 31, 2020 were as follows:


		June 30, 2021						December 31, 2020
	Weighted	Gross				Net		Gross				Net
	Average	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Life (years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Customer relationships	10	$	614.6	$	334.9	$	279.7	$	456.6	$	313.6	$	143.0
Proprietary technology	12		195.2		94.5		100.7		156.2		88.1		68.1
Backlog and other	1		65.9		65.6		0.3		49.7		49.4		0.3
Total intangible assets (definite-lived)	9		875.7		495.0		380.7		662.5		451.1		211.4

Trade names (indefinite-lived)			240.1				240.1		186.1				186.1
		$	1,115.8	$	495.0	$	620.8	$	848.6	$	451.1	$	397.5

Summary of the Company's indefinite-lived intangible assets

Other than goodwill noted above, the Company’s intangible assets as of June 30, 2021 and December 31, 2020 were as follows:


		June 30, 2021						December 31, 2020
	Weighted	Gross				Net		Gross				Net
	Average	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Life (years)	Amount		Amortization		Amount		Amount		Amortization		Amount
Customer relationships	10	$	614.6	$	334.9	$	279.7	$	456.6	$	313.6	$	143.0
Proprietary technology	12		195.2		94.5		100.7		156.2		88.1		68.1
Backlog and other	1		65.9		65.6		0.3		49.7		49.4		0.3
Total intangible assets (definite-lived)	9		875.7		495.0		380.7		662.5		451.1		211.4

Trade names (indefinite-lived)			240.1				240.1		186.1				186.1
		$	1,115.8	$	495.0	$	620.8	$	848.6	$	451.1	$	397.5

Reportable Business Segments (Tables)

6 Months Ended

Jun. 30, 2021

Reportable Business Segments

Schedule of segment reporting information by segment


	Interconnect Products				Cable Products
	and Assemblies				and Solutions				Corporate / Other⁽¹⁾				Total Consolidated
Three Months Ended June 30:	2021		2020		2021		2020		2021		2020		2021		2020
Net sales:
External	$	2,541.3	$	1,898.5	$	112.6	$	89.0	$	—	$	—	$	2,653.9	$	1,987.5
Intersegment		27.0		12.5		14.1		8.9		—		—		41.1		21.4
Segment operating income		559.7		379.5		6.9		8.4						566.6		387.9

Six Months Ended June 30:
Net sales:
External	$	4,821.4	$	3,677.5	$	209.6	$	172.0	$	—	$	—	$	5,031.0	$	3,849.5
Intersegment		44.8		21.0		25.9		17.7		—		—		70.7		38.7
Segment operating income		1,049.0		719.2		15.4		14.8						1,064.4		734.0

(1)	Corporate / Other is not a reportable business segment; the reconciliation of segment operating income to consolidated results is included in the table below.

Schedule of the reconciliation of segment operating income to consolidated income before income taxes


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Segment operating income	$	566.6	$	387.9	$	1,064.4	$	734.0
Stock-based compensation expense		(20.0)		(16.6)		(39.0)		(32.0)
Acquisition-related expenses		(55.4)		—		(55.4)		—
Other operating expenses		(15.0)		(13.9)		(29.0)		(27.7)
Interest expense		(29.1)		(30.2)		(57.7)		(59.0)
Other income (expense), net		—		1.3		(0.4)		2.4
Income from continuing operations before income taxes	$	447.1	$	328.5	$	882.9	$	617.7

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2021

Revenue Recognition

Schedule of disaggregation of net sales


	Interconnect Products				Cable Products				Total Reportable
	and Assemblies				and Solutions				Business Segments
Three Months Ended June 30,	2021		2020		2021		2020		2021		2020
Net sales by:
Sales channel:
End customers and contract manufacturers	$	2,094.9	$	1,574.1	$	92.1	$	76.8	$	2,187.0	$	1,650.9
Distributors and resellers		446.4		324.4		20.5		12.2		466.9		336.6
	$	2,541.3	$	1,898.5	$	112.6	$	89.0	$	2,653.9	$	1,987.5

Geography:
United States	$	721.8	$	515.8	$	57.3	$	54.0	$	779.1	$	569.8
China		687.6		642.7		2.6		1.7		690.2		644.4
Other foreign locations		1,131.9		740.0		52.7		33.3		1,184.6		773.3
	$	2,541.3	$	1,898.5	$	112.6	$	89.0	$	2,653.9	$	1,987.5

Six Months Ended June 30,
Net sales by:
Sales channel:
End customers and contract manufacturers	$	4,025.9	$	3,062.7	$	174.4	$	143.0	$	4,200.3	$	3,205.7
Distributors and resellers		795.5		614.8		35.2		29.0		830.7		643.8
	$	4,821.4	$	3,677.5	$	209.6	$	172.0	$	5,031.0	$	3,849.5

Geography:
United States	$	1,343.5	$	1,087.2	$	109.5	$	98.0	$	1,453.0	$	1,185.2
China		1,345.3		1,059.6		5.8		2.4		1,351.1		1,062.0
Other foreign locations		2,132.6		1,530.7		94.3		71.6		2,226.9		1,602.3
	$	4,821.4	$	3,677.5	$	209.6	$	172.0	$	5,031.0	$	3,849.5

Basis of Presentation and Principles of Consolidation (Narrative) (Details) $ / shares in Units, $ in Millions		6 Months Ended
	Mar. 04, 2021	Jun. 30, 2021 USD ($) $ / shares	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Stock split conversion ratio	2
Class A Common Stock, par value (in dollars per share) \| $ / shares		$ 0.001
Total equity		$ 5,778.3	$ 5,521.7	$ 5,451.9	$ 4,800.3	$ 4,445.7	$ 4,596.2
Common Stock
Total equity		0.6	0.6	0.6	0.6	0.6	0.6
Common Stock \| Stock Split [Member]
Total equity		0.3		0.3	0.3		0.3
Additional Paid in Capital
Total equity		2,198.9	$ 2,105.7	2,068.1	1,834.2	$ 1,720.3	1,683.0
Additional Paid in Capital \| Stock Split [Member]
Total equity		$ (0.3)		$ (0.3)	$ (0.3)		$ (0.3)
MTS Test & Simulation
Maximum expected duration of time (in years) to close on the sale of business from the date of the acquisition		1 year

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=115929471&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929471&loc=d3e21914-107793

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4568740-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 28
-Subparagraph (f)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

New Accounting Pronouncements (Details) - The "Revolving Credit Facility" - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
New Accounting Pronouncements
Borrowings under the Revolving Credit Facility	$ 0.0	$ 0.0
Revolving Credit Facility
New Accounting Pronouncements
Borrowings under the Revolving Credit Facility	$ 0.0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventories
Raw materials and supplies	$ 742.6	$ 587.4
Work in process	509.1	410.7
Finished goods	519.7	464.1
Inventories	$ 1,771.4	$ 1,462.2

Debt, Schedule of Debt (Details) € in Millions, $ in Millions	Jun. 30, 2021 USD ($)	Jun. 30, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Apr. 01, 2020	Feb. 20, 2020
Debt
Less deferred debt issuance costs	$ (24.8)		$ (27.8)
Less deferred debt issuance costs, fair value
Total debt	5,236.3		3,866.5
Less current portion	526.1		230.3
Total long-term debt	4,710.2		3,636.2
Total debt, Approximate Fair Value	5,534.4		4,265.4
Less current portion, Fair Value	530.4		234.2
Long-term debt, Approximate Fair Value	5,004.0		4,031.2
The "Revolving Credit Facility" \| Revolving Credit Facility
Debt
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	0.0		0.0
Total debt, Approximate Fair Value	0.0		0.0
U.S. Commercial Paper Program
Debt
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	1,401.0		0.0
Total debt, Approximate Fair Value	1,401.0		0.0
Euro Commercial Paper Program
Debt
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	0.0	€ 0.0	0.0
Total debt, Approximate Fair Value	$ 0.0		$ 0.0
4.00% Senior Notes due February 2022
Debt
Stated interest rate (as a percent)	4.00%	4.00%	4.00%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 295.0		$ 294.9
Total debt, Approximate Fair Value	$ 298.5		$ 303.6
3.125% Senior Notes due September 2021
Debt
Stated interest rate (as a percent)	3.125%	3.125%	3.125%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 227.7		$ 227.7
Total debt, Approximate Fair Value	$ 228.5		$ 231.6
2.20% Senior Notes due April 2020
Debt
Stated interest rate (as a percent)				2.20%
3.20% Senior Notes due April 2024
Debt
Stated interest rate (as a percent)	3.20%	3.20%	3.20%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 349.8		$ 349.8
Total debt, Approximate Fair Value	$ 371.4		$ 378.1
2.05% Senior Notes due March 2025
Debt
Stated interest rate (as a percent)	2.05%	2.05%	2.05%		2.05%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 399.5		$ 399.4
Total debt, Approximate Fair Value	$ 414.1		$ 420.7
0.750% Euro Senior Notes due May 2026
Debt
Stated interest rate (as a percent)	0.75%	0.75%	0.75%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 590.8		$ 608.4
Total debt, Approximate Fair Value	$ 611.0		$ 633.6
2.000% Euro Senior Notes due October 2028
Debt
Stated interest rate (as a percent)	2.00%	2.00%	2.00%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 590.7		$ 608.4
Total debt, Approximate Fair Value	$ 664.6		$ 694.9
4.350% Senior Notes due June 2029
Debt
Stated interest rate (as a percent)	4.35%	4.35%	4.35%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 499.6		$ 499.6
Total debt, Approximate Fair Value	$ 585.4		$ 608.4
2.800% Senior Notes due February 2030
Debt
Stated interest rate (as a percent)	2.80%	2.80%	2.80%
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	$ 899.4		$ 899.4
Total debt, Approximate Fair Value	952.3		987.8
Other Debt [Member]
Debt
Debt carrying amount, net of unamortized discount or premium before deferred debt issuance costs	7.6		6.7
Total debt, Approximate Fair Value	$ 7.6		$ 6.7

Debt, Revolving Credit Facility (Details) - The "Revolving Credit Facility" - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt
Maximum borrowing capacity	$ 2,500.0
Borrowings under the Revolving Credit Facility	$ 0.0	$ 0.0
Debt instrument, covenant compliance	At June 30, 2021, the Company was in compliance with the financial covenants under the Revolving Credit Facility

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt, Commercial Paper (Details) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($) item	Jun. 30, 2021 EUR (€) item	Dec. 31, 2020 USD ($)
Commercial Paper Programs and Revolving Credit Facility [Member]
Debt
Maximum borrowing capacity	$ 2,500.0
U.S. Commercial Paper Program
Debt
Average interest rate (as a percent)	0.21%	0.21%
Debt carrying amount, net of unamortized discount before deferred debt issuance costs	$ 1,401.0		$ 0.0
Maximum borrowing capacity	$ 2,500.0
U.S. Commercial Paper Program \| Maximum
Debt
Maturity term	397 days
Euro Commercial Paper Program
Debt
Number of wholly-owned subsidiaries that entered into a euro-commercial paper program \| item	1	1
Debt carrying amount, net of unamortized discount before deferred debt issuance costs	$ 0.0	€ 0.0	$ 0.0
Maximum borrowing capacity	$ 2,000.0
Euro Commercial Paper Program \| Maximum
Debt
Maturity term	183 days

Debt, U.S. Senior Notes (Details) - USD ($) $ in Millions			6 Months Ended
Debt, U.S. Senior Notes (Details) - USD ($) $ in Millions	Apr. 01, 2020	Feb. 20, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt
Repayments of long-term debt			$ 387.1	$ 401.3
U.S. Senior Notes
Debt
Redemption price as a percentage of principal amount			100.00%
Debt instrument, covenant compliance			At June 30, 2021, the Company was in compliance with the financial covenants under its U.S. Senior Notes.
2.20% Senior Notes due April 2020
Debt
Stated interest rate (as a percent)	2.20%
Repayments of long-term debt	$ 400.0
4.350% Senior Notes due June 2029
Debt
Stated interest rate (as a percent)			4.35%		4.35%
2.800% Senior Notes due February 2030
Debt
Stated interest rate (as a percent)			2.80%		2.80%
3.125% Senior Notes due September 2021
Debt
Stated interest rate (as a percent)			3.125%		3.125%
4.00% Senior Notes due February 2022
Debt
Stated interest rate (as a percent)			4.00%		4.00%
3.20% Senior Notes due April 2024
Debt
Stated interest rate (as a percent)			3.20%		3.20%
2.05% Senior Notes due March 2025
Debt
Redemption price as a percentage of principal amount		100.00%
Debt instrument, principal amount		$ 400.0
Stated interest rate (as a percent)		2.05%	2.05%		2.05%
Debt instrument, face amount, net of discount (as a percent)		99.829%
Debt maturity date			Mar. 01, 2025

Debt, Euro Senior Notes (Details) € in Millions, $ in Millions		6 Months Ended
	May 04, 2020 USD ($)	Jun. 30, 2021	May 04, 2020 EUR (€)
Euro Notes [Member]
Debt
Redemption price as a percentage of principal amount		100.00%
Debt instrument, covenant compliance		At June 30, 2021, the Company was in compliance with the financial covenants under its Euro Notes
0.750% Euro Senior Notes Due May 2026 [Member]
Debt
Debt instrument, principal amount	$ 545.4		€ 500.0
Stated interest rate (as a percent)	0.75%		0.75%
Debt maturity date		May 04, 2026
Debt instrument, face amount, net of discount (as a percent)	99.563%		99.563%
Redemption price as a percentage of principal amount	100.00%
2.000% Euro Senior Notes due October 2028 [Member]
Debt
Stated interest rate (as a percent)		2.00%

Fair Value Measurements (Details) $ in Millions	Jun. 30, 2021 USD ($) contract	Dec. 31, 2020 USD ($)
Cash Flow Hedging
Fair value of assets and liabilities measured on recurring basis
Number of forward contracts \| contract	2
Fair value measurements recurring basis
Fair value of assets and liabilities measured on recurring basis
Short-term investments	$ 33.2	$ 36.1
Forward contracts	(13.9)	(2.7)
Total asset	19.3	33.4
Fair value measurements recurring basis \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair value of assets and liabilities measured on recurring basis
Short-term investments	33.2	36.1
Forward contracts	0.0	0.0
Total asset	33.2	36.1
Fair value measurements recurring basis \| Significant Observable Inputs (Level 2)
Fair value of assets and liabilities measured on recurring basis
Short-term investments	0.0	0.0
Forward contracts	(13.9)	(2.7)
Total liability	(13.9)	(2.7)
Fair value measurements recurring basis \| Significant Unobservable Inputs (Level 3)
Fair value of assets and liabilities measured on recurring basis
Short-term investments	0.0	0.0
Forward contracts	0.0	0.0
Total asset	$ 0.0	$ 0.0

Income Taxes, Provision and Effective tax rate (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Taxes
Provision for income taxes	$ (78.1)	$ (68.0)	$ (182.2)	$ (114.0)
Effective tax rate	17.50%	20.70%	20.60%	18.50%
Discrete income tax benefit, tax on foreign income				$ 19.9
Discrete income tax benefit, impact on effective tax rate				(3.20%)
Tax settlement, amount	$ (14.9)		$ (14.9)
Tax settlement, effective tax rate	(3.30%)		(1.70%)
Excess tax benefit from option exercises	$ 19.3	$ 12.4	$ 22.0	$ 17.4
Excess tax benefit, impact on effective tax rate	(4.30%)	(3.80%)	(2.50%)	(2.80%)
Impact of acquisition-related expenses on the effective tax rate	0.60%		0.30%

Income Taxes, Unrecognized tax benefits (Details) $ in Millions	Jun. 30, 2021 USD ($)
Income Taxes
Unrecognized tax benefits, anticipated adjustment for changing facts and circumstances, over the next twelve month period	$ 8.3
Amount for unrecognized tax benefits, including penalties and interest, which if recognized would impact the effective tax rate	$ 157.1

Shareholders' Equity and Noncontrolling Interests (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions			3 Months Ended			6 Months Ended
	Oct. 20, 2020	Oct. 19, 2020	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			$ 5,521.7	$ 5,451.9	$ 4,445.7	$ 5,451.9	$ 4,596.2
Net income			371.6		260.5	703.3	503.7
Other comprehensive income (loss)			35.7		30.8	(21.4)	(64.5)
Acquisitions resulting in noncontrolling interest					0.3	1.8	0.3
Purchase of noncontrolling interest						(4.8)	(7.3)
Distributions to shareholders of noncontrolling interests			(0.7)		(1.6)	(3.5)	(2.4)
Purchase of treasury stock			(167.3)		0.0	(320.1)	(257.2)
Retirement of treasury stock			0.0		0.0	0.0	0.0
Stock options exercised			83.9		122.6	105.3	151.9
Dividends declared			(86.6)		(74.6)	(173.2)	(148.6)
Stock-based compensation expense			20.0		16.6	39.0	32.0
Balance at end of period			$ 5,778.3	$ 5,521.7	$ 4,800.3	$ 5,778.3	$ 4,800.3
Dividends [Abstract]
Dividends declared per share (in dollars per share)	$ 0.145	$ 0.125	$ 0.145		$ 0.125	$ 0.29	$ 0.25
Common Stock
Increase (Decrease) In Shareholders' Equity
Balance (in shares)			599.2	600.7	593.2	600.7	597.4
Balance at beginning of period			$ 0.6	$ 0.6	$ 0.6	$ 0.6	$ 0.6
Retirement of treasury stock			$ 0.0		$ 0.0	$ 0.0	$ 0.0
Retirement of treasury stock (in shares)			(2.5)		0.0	(4.6)	(5.4)
Stock options exercised			$ 0.0		$ 0.0	$ 0.0	$ 0.0
Stock options exercised (in shares)			2.6		3.9	3.2	5.1
Balance (in shares)			599.3	599.2	597.1	599.3	597.1
Balance at end of period			$ 0.6	$ 0.6	$ 0.6	$ 0.6	$ 0.6
Additional Paid in Capital
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			2,105.7	2,068.1	1,720.3	2,068.1	1,683.0
Purchase of noncontrolling interest						2.5	(2.1)
Stock options exercised			73.2		97.3	89.3	121.3
Stock-based compensation expense			20.0		16.6	39.0	32.0
Balance at end of period			2,198.9	2,105.7	1,834.2	2,198.9	1,834.2
Retained Earnings
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			3,807.1	3,705.4	3,248.5	3,705.4	3,348.4
Net income			369.8		257.7	699.3	499.8
Retirement of treasury stock			(167.3)		0.0	(300.3)	(257.2)
Stock options exercised			(6.6)		(12.2)	(14.8)	(19.2)
Dividends declared			(86.6)		(74.6)	(173.2)	(148.6)
Balance at end of period			3,916.4	3,807.1	3,419.4	3,916.4	3,419.4
Accumulated Other Comprehensive Loss
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			(335.0)	(278.1)	(525.1)	(278.1)	(430.9)
Other comprehensive income (loss)			34.7		30.5	(22.2)	(63.7)
Balance at end of period			(300.3)	(335.0)	(494.6)	(300.3)	(494.6)
Treasury Stock
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			$ (117.4)	$ (111.1)	$ (58.5)	$ (111.1)	$ (70.8)
Balance (in shares)			(2.1)	(2.0)	(1.4)	(2.0)	(1.6)
Purchase of treasury stock			$ (167.3)		$ 0.0	$ (320.1)	$ (257.2)
Purchase of treasury stock (in shares)			(2.5)		0.0	(4.9)	(5.4)
Retirement of treasury stock			$ 167.3		$ 0.0	$ 300.3	$ 257.2
Retirement of treasury stock (in shares)			2.5		0.0	4.6	5.4
Stock options exercised			$ 17.3		$ 37.5	$ 30.8	$ 49.8
Stock options exercised (in shares)			0.3		0.9	0.5	1.1
Balance at end of period			$ (100.1)	$ (117.4)	$ (21.0)	$ (100.1)	$ (21.0)
Balance (in shares)			(1.8)	(2.1)	(0.5)	(1.8)	(0.5)
Noncontrolling Interests
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			$ 60.7	$ 67.0	$ 59.9	$ 67.0	$ 65.9
Net income			1.8		2.8	4.0	3.9
Other comprehensive income (loss)			1.0		0.3	0.8	(0.8)
Acquisitions resulting in noncontrolling interest					0.3	1.8	0.3
Purchase of noncontrolling interest						(7.3)	(5.2)
Distributions to shareholders of noncontrolling interests			(0.7)		(1.6)	(3.5)	(2.4)
Balance at end of period			$ 62.8	$ 60.7	$ 61.7	$ 62.8	61.7
Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-13
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period							(3.8)
Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-13 \| Retained Earnings
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period							$ (3.8)

Shareholders' Equity and Noncontrolling Interests, Stock Repurchase (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 27, 2021	Apr. 24, 2018	Jul. 27, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	May 21, 2021
Shareholders' Equity
Treasury stock retired (in dollars)				$ 0.0	$ 0.0	$ 0.0	$ 0.0
Payments for shares repurchased and retained in treasury (in dollars)				$ 167.3	$ 0.0	$ 320.1	$ 257.2
Class A Common Stock, par value (in dollars per share)				$ 0.001		$ 0.001
Class A Common Stock, shares authorized								2,000,000,000
Increase in common stock shares authorized								1,000,000,000
2021 Stock Repurchase Program
Shareholders' Equity
Value of shares authorized to be repurchased (in dollars)	$ 2,000.0
Repurchase of stock program, period	3 years
Number of shares repurchased and retired				1,700,000
Payments for shares repurchased and retired (in dollars)				$ 116.3
2018 Stock Repurchase Program
Shareholders' Equity
Value of shares authorized to be repurchased (in dollars)		$ 2,000.0
Repurchase of stock program, period		3 years
Number of shares repurchased				800,000	0	3,100,000
Payments for shares repurchased (in dollars)				$ 51.0		$ 203.8
Number of shares repurchased and retained in treasury						300,000
Payments for shares repurchased and retained in treasury (in dollars)						$ 19.8
Number of shares repurchased and retired						2,800,000	5,400,000
Payments for shares repurchased and retired (in dollars)						$ 184.0	$ 257.2
Subsequent Event \| 2021 Stock Repurchase Program
Shareholders' Equity
Number of shares repurchased and retained in treasury			700,000
Payments for shares repurchased and retained in treasury (in dollars)			$ 48.8
Value of shares remaining that may be repurchased under the stock repurchase program (in dollars)			$ 1,834.9

Shareholders' Equity and Noncontrolling Interests, Dividends (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended		6 Months Ended
	Oct. 20, 2020	Oct. 19, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Shareholders' Equity and Noncontrolling Interests
Dividends declared per share (in dollars per share)	$ 0.145	$ 0.125	$ 0.145	$ 0.125	$ 0.29	$ 0.25
Dividends declared			$ 86.6	$ 74.6	$ 173.2	$ 148.6
Dividends paid (including those declared in the prior year)			$ 86.6	$ 74.0	$ 173.4	$ 148.4

Stock-Based Compensation, Stock-based Comp Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock-Based Compensation
Expense incurred for stock-based compensation plans	$ 20.0	$ 16.6	$ 39.0	$ 32.0
Recognized tax benefit related to stock-based compensation	21.8	14.3	26.4	21.1
Excess tax benefit from option exercises	$ 19.3	$ 12.4	$ 22.0	$ 17.4

Stock-Based Compensation, Stock Options (Details) - shares		6 Months Ended
	May 19, 2021	Jun. 30, 2021	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	40,000,000
Number of shares originally authorized for issuance of stock options under stock option plan			60,000,000
Remaining shares available for the granting of stock options under plan		42,932,620
Options ratable vesting period		5 years
Options exercisable period		10 years

Stock-Based Compensation, Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Stock option activity
Options outstanding at the beginning of the period (in shares)	67,411,970	67,985,648	67,985,648
Non-vested options, options granted (in shares)	7,215,100	215,080
Options exercised (in shares)	(2,882,332)	(757,598)
Options forfeited (in shares)	(46,600)	(31,160)
Options outstanding at the end of the period (in shares)	71,698,138	67,411,970	71,698,138	67,985,648
Vested and non-vested options expected to vest at the end of the period (in shares)	68,155,502		68,155,502
Exercisable at the end of the period (in shares)	39,792,918		39,792,918
Weighted Average Exercise Price
Weighted average exercise price, options outstanding at the beginning of the period (in dollars per share)	$ 37.77	$ 37.58	$ 37.58
Weighted average exercise price, options granted (in dollars per share)	66.62	64.69
Weighted average exercise price, options exercised (in dollars per share)	29.14	28.12
Weighted average exercise price, options forfeited (in dollars per share)	49.05	42.37
Weighted average exercise price, options outstanding at the end of the period (in dollars per share)	41.01	$ 37.77	41.01	$ 37.58
Weighted average exercise price, vested and non-vested options expected to vest (in dollars per share)	40.59		40.59
Weighted average exercise price, exercisable (in dollars per share)	$ 34.52		$ 34.52
Weighted Average Remaining Contractual Term
Weighted average remaining contractual term of options outstanding		6 years 6 months 25 days	6 years 9 months 7 days	6 years 9 months 14 days
Weighted average remaining contractual term of options vested options and non-vested expected to vest			6 years 8 months 8 days
Weighted average remaining contractual term of options exercisable			5 years 6 months 7 days
Aggregate Intrinsic Value
Aggregate intrinsic value of options outstanding	$ 1,964.3	$ 1,901.0	$ 1,964.3	$ 1,890.4
Aggregate intrinsic value of options, vested and non-vested options expected to vest	1,896.0		1,896.0
Aggregate intrinsic value of options exercisable	$ 1,348.6		$ 1,348.6

Stock-Based Compensation, Non-Vested Stock Option Activity (Details) - Stock Options - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Status of the Company's non-vested options and changes during the year
Non-vested options at the beginning of the period (in shares)	37,082,020	36,989,300
Non-vested options, options granted (in shares)	7,215,100	215,080
Non-vested options, options vested (in shares)	(12,345,300)	(91,200)
Non-vested options, options forfeited (in shares)	(46,600)	(31,160)
Non-vested options at the end of the period (in shares)	31,905,220	37,082,020
Weighted Average Fair Value at Grant Date
Weighted average fair value at the grant date, options outstanding at the beginning of the period (in dollars per share)	$ 6.46	$ 6.43
Weighted average fair value at grant date, options granted (in dollars per share)	13.29	12.11
Weighted average fair value at grant date, options vested (in dollars per share)	5.70	3.88
Weighted average fair value at grant date, options forfeited (in dollars per share)	7.97	5.77
Weighted average fair value at the grant date, options outstanding at the end of the period (in dollars per share)	$ 8.30	$ 6.46

Stock-Based Compensation, Option Plans (Details) - Stock Options - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock-Based Compensation
Total intrinsic value of stock options exercised (in dollars)	$ 109.6	$ 125.2	$ 138.5	$ 170.3
Total fair value of stock options vested (in dollars)	70.4	$ 60.8	70.8	$ 61.4
Total compensation cost related to non-vested options not yet recognized (in dollars)	$ 234.3		$ 234.3
Weighted average expected amortization period			3 years 8 months 19 days

Stock-Based Compensation, Restricted Shares (Details) - Restricted Shares - 2012 Directors Restricted Stock Plan - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Stock-Based Compensation
Remaining shares available for the granting of stock options under plan	143,196		143,196
Restricted share activity
Restricted shares outstanding at the beginning of the period (in shares)	26,350	26,350	26,350
Shares vested and issued (in shares)	(27,272)
Restricted shares granted (in shares)	20,146	0
Restricted shares outstanding at the end of the period (in shares)	19,224	26,350	19,224	26,350
Fair Value at Grant Date
Fair value at the grant date, restricted shares outstanding at the beginning of the period (in dollars per share)	$ 45.55	$ 45.55	$ 45.55
Fair value of restricted shares vested and issued (in dollars per share)	45.80
Fair value of restricted shares granted (in dollars per share)	65.96	0
Fair value at the grant date, restricted shares outstanding at the end of the period (in dollars per share)	$ 66.59	$ 45.55	$ 66.59	$ 45.55
Weighted Average Remaining Amortization Term (in years)	10 months 17 days	1 month 17 days		4 months 17 days
Total compensation cost related to non-vested restricted shares not yet recognized (in dollars)	$ 1.1		$ 1.1
Weighted average expected amortization period			10 months 17 days

Earnings Per Share, Reconciliation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share
Net income from continuing operations attributable to Amphenol Corporation	$ 367.2	$ 257.7	$ 696.7	$ 499.8
Income from discontinued operations attributable to Amphenol Corporation, net of income taxes of ($0.3)	2.6	0.0	2.6	0.0
Income taxes on income from discontinued operations attributable to Amphenol Corporation	0.3		0.3
Net income attributable to Amphenol Corporation	$ 369.8	$ 257.7	$ 699.3	$ 499.8
Weighted average common shares outstanding - Basic (in shares)	597.4	593.3	597.9	594.1
Effect of dilutive stock options (in shares)	26.4	14.7	26.0	16.4
Weighted average common shares outstanding - Diluted (in shares)	623.8	608.0	623.9	610.5
Net income (loss) per common share attributable to Amphenol Corporation - Basic:
Continuing operations	$ 0.61	$ 0.43	$ 1.17	$ 0.84
Discontinued operations, net of income taxes	0	0	0	0
Net income attributable to Amphenol Corporation - Basic	0.62	0.43	1.17	0.84
Net income (loss) per common share attributable to Amphenol Corporation - Diluted:
Continuing operations	0.59	0.42	1.12	0.82
Discontinued operations, net of income taxes	0	0	0	0
Net income attributable to Amphenol Corporation - Diluted	$ 0.59	$ 0.42	$ 1.12	$ 0.82
Anti-dilutive common shares
Anti-dilutive stock options, excluded from the computations of earnings per share (in shares)	3.8	27.3	2.2	15.7

Benefit Plans and Other Postretirement Benefits, Net pension expense (Details) - Pension Benefits - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Components of net pension expense:
Service cost	$ 1.9	$ 1.8	$ 3.8	$ 3.8
Interest cost	2.8	4.1	5.6	8.3
Expected return on plan assets	(7.8)	(9.3)	(15.6)	(18.6)
Amortization of prior service cost	0.5	0.6	1.0	1.1
Amortization of net actuarial losses	6.2	6.3	12.4	12.5
Net pension expense	3.6	$ 3.5	7.2	$ 7.1
United States
Defined Benefit Plan Disclosure
Estimated future employer contribution in fiscal year	$ 0.0		$ 0.0
Weighted average assumptions used to determine net periodic benefit cost/expense:
Expected long-term return on assets (as a percent)			6.00%

Benefit Plans and Other Postretirement Benefits, Defined contribution plans (Details) - United States - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Defined Contribution Plan Disclosure
Contributions to U.S. defined contribution plans by the Company, maximum percentage of eligible compensation	6.00%
Matching contributions to U.S. defined contribution plans by the Company	$ 8.4	$ 6.7

Acquisitions (Details) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
Acquisitions (Details) $ / shares in Units, $ in Millions	Apr. 07, 2021 USD ($)	Jun. 30, 2021 USD ($) contract	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) agreement contract segment	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) segment contract	Dec. 09, 2020 $ / shares
Acquisitions
Number of reportable business segments \| segment				2
Number of acquisitions \| agreement				6
Acquisition-related expenses		$ 55.4	$ 0.0	$ 55.4	$ 0.0
Purchase price, net of cash acquired				1,531.0	$ 16.5
Goodwill		5,891.7		5,891.7		$ 5,032.1
MTS Systems Corporation and Other 2021 Acquisitions [Member]
Acquisitions
Acquisition-related expenses		55.4		55.4
Acquisition-related expenses, net of tax		44.6		$ 44.6
MTS Systems Corporation
Acquisitions
Business Acquisition, Date of Acquisition Agreement				Dec. 09, 2020
Business acquisition, effective date	Apr. 07, 2021
Number of reportable business segments \| segment						2
Purchase price, net of cash acquired	$ 1,300.0
Acquisition price per share \| $ / shares							$ 58.50
Goodwill deductible for tax purposes		0.0		$ 0.0
Senior note assumed in business acquisition	350.0
Senior note assumed from business acquisition and repaid and settled shortly after closing, including accrued interest and make-whole premium	$ 387.3
MTS Sensors [Member]
Acquisitions
Goodwill		740.3		740.3
Indefinite-lived intangible assets				54.0
Definite-lived intangible assets				183.4
Deferred tax liability		61.0		61.0
Customer relationships \| MTS Sensors [Member]
Acquisitions
Definite-lived intangible assets				$ 128.1
Useful lives				11 years
Proprietary technology \| MTS Sensors [Member]
Acquisitions
Definite-lived intangible assets				$ 39.1
Useful lives				15 years
Backlog \| MTS Sensors [Member]
Acquisitions
Definite-lived intangible assets				$ 16.2
Useful lives				3 months
Cable Products and Solutions
Acquisitions
Number of acquisitions \| agreement				1
Goodwill		169.3		$ 169.3		$ 157.6
Interconnect Products and Assemblies
Acquisitions
Number of acquisitions				5		2
Purchase price, net of cash acquired						$ 50.4
Goodwill		$ 5,722.4		$ 5,722.4		$ 4,874.5
Number of acquisitions for which acquisition accounting has been completed \| contract		1		1

Discontinued Operations (Details) $ in Millions	6 Months Ended	12 Months Ended
Discontinued Operations (Details) $ in Millions	Jun. 30, 2021 USD ($) segment	Dec. 31, 2020 USD ($) segment	Jan. 19, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of reportable segments \| segment	2
Current assets held for sale	$ 1,032.4	$ 0.0
Current liabilities held for sale	$ 223.6	$ 0.0
MTS Test & Simulation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum expected duration of time (in years) to close on the sale of business from the date of the acquisition	1 year
Disposal group, consideration			$ 750.0
MTS Systems Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of reportable segments \| segment		2

- Definition

Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

+ References + Details

- Definition

Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

+ References + Details

Goodwill and Other Intangible Assets, Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Goodwill.
Goodwill, Beginning Balance	$ 5,032.1
Acquisition-related	887.6
Foreign currency translation	(28.0)
Goodwill, Ending Balance	5,891.7
Interconnect Products and Assemblies
Goodwill.
Goodwill, Beginning Balance	4,874.5
Acquisition-related	876.0
Foreign currency translation	(28.1)
Goodwill, Ending Balance	5,722.4
Cable Products and Solutions
Goodwill.
Goodwill, Beginning Balance	157.6
Acquisition-related	11.6
Foreign currency translation	0.1
Goodwill, Ending Balance	$ 169.3

Goodwill and Other Intangible Assets, Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Intangible Assets
Weighted average useful lives of acquired amortizable intangible assets	9 years
Gross Carrying Amount (definite-lived)	$ 875.7	$ 662.5
Accumulated Amortization	495.0	451.1
Net Carrying Amount, (definite-lived)	380.7	211.4
Indefinite-lived trade name intangible asset	240.1	186.1
Intangible assets, gross (excluding goodwill)	1,115.8	848.6
Net Carrying Amount, intangible assets	$ 620.8	397.5
Customer relationships
Intangible Assets
Weighted average useful lives of acquired amortizable intangible assets	10 years
Gross Carrying Amount (definite-lived)	$ 614.6	456.6
Accumulated Amortization	334.9	313.6
Net Carrying Amount, (definite-lived)	$ 279.7	143.0
Proprietary technology
Intangible Assets
Weighted average useful lives of acquired amortizable intangible assets	12 years
Gross Carrying Amount (definite-lived)	$ 195.2	156.2
Accumulated Amortization	94.5	88.1
Net Carrying Amount, (definite-lived)	$ 100.7	68.1
Backlog and other
Intangible Assets
Weighted average useful lives of acquired amortizable intangible assets	1 year
Gross Carrying Amount (definite-lived)	$ 65.9	49.7
Accumulated Amortization	65.6	49.4
Net Carrying Amount, (definite-lived)	$ 0.3	$ 0.3

Goodwill and Other Intangible Assets, Amortization (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Intangible assets
Amortization expense	$ 32.6	$ 12.5	$ 44.9	$ 25.4
Amortization expense estimated for each of the next five fiscal years
Remainder of 2021	32.1		32.1
2022	57.5		57.5
2023	54.7		54.7
2024	48.9		48.9
2025	39.5		39.5
2026	37.8		37.8
MTS Sensors [Member] \| Backlog
Intangible assets
Amortization expense	$ 16.2		$ 16.2

Reportable Business Segments, Segment Results (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) segment	Jun. 30, 2020 USD ($)
Segment reporting information
Number of reportable business segments \| segment			2
Net sales	$ 2,653.9	$ 1,987.5	$ 5,031.0	$ 3,849.5
Operating income	476.2	357.4	941.0	674.3
Interconnect Products and Assemblies
Segment reporting information
Net sales	2,541.3	1,898.5	4,821.4	3,677.5
Cable Products and Solutions
Segment reporting information
Net sales	112.6	89.0	209.6	172.0
Operating Segment
Segment reporting information
Net sales	2,653.9	1,987.5	5,031.0	3,849.5
Operating income	566.6	387.9	1,064.4	734.0
Operating Segment \| Interconnect Products and Assemblies
Segment reporting information
Net sales	2,541.3	1,898.5	4,821.4	3,677.5
Operating income	559.7	379.5	1,049.0	719.2
Operating Segment \| Cable Products and Solutions
Segment reporting information
Net sales	112.6	89.0	209.6	172.0
Operating income	6.9	8.4	15.4	14.8
Operating Segment \| Corporate and Other
Segment reporting information
Net sales	0.0	0.0	0.0	0.0
Inter-Segment
Segment reporting information
Net sales	41.1	21.4	70.7	38.7
Inter-Segment \| Interconnect Products and Assemblies
Segment reporting information
Net sales	27.0	12.5	44.8	21.0
Inter-Segment \| Cable Products and Solutions
Segment reporting information
Net sales	14.1	8.9	25.9	17.7
Inter-Segment \| Corporate and Other
Segment reporting information
Net sales	$ 0.0	$ 0.0	$ 0.0	$ 0.0

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Reportable Business Segments, Reconciliation of Segment Operating Income to Consolidated Income Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information
Operating income	$ 476.2	$ 357.4	$ 941.0	$ 674.3
Stock-based compensation expense	(20.0)	(16.6)	(39.0)	(32.0)
Acquisition-related expenses	(55.4)	0.0	(55.4)	0.0
Other operating expenses	(15.0)	(13.9)	(29.0)	(27.7)
Interest expense	(29.1)	(30.2)	(57.7)	(59.0)
Other (expense) income, net	0.0	1.3	(0.4)	2.4
Income from continuing operations before income taxes	447.1	328.5	882.9	617.7
Operating Segment
Segment Reporting Information
Operating income	$ 566.6	$ 387.9	$ 1,064.4	$ 734.0

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Revenue Recognition (Details) - item	3 Months Ended		6 Months Ended
Revenue Recognition (Details) - item	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
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%	5.00%	5.00%
Remaining performance obligation, expected timing for nearly all performance obligations			1 year

Revenue Recognition, Disaggregation of Net Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue recognition
Net sales	$ 2,653.9	$ 1,987.5	$ 5,031.0	$ 3,849.5
United States
Revenue recognition
Net sales	779.1	569.8	1,453.0	1,185.2
China
Revenue recognition
Net sales	690.2	644.4	1,351.1	1,062.0
Other foreign locations
Revenue recognition
Net sales	1,184.6	773.3	2,226.9	1,602.3
End customers and contract manufacturers
Revenue recognition
Net sales	2,187.0	1,650.9	4,200.3	3,205.7
Distributors and resellers
Revenue recognition
Net sales	466.9	336.6	830.7	643.8
Interconnect Products and Assemblies
Revenue recognition
Net sales	2,541.3	1,898.5	4,821.4	3,677.5
Interconnect Products and Assemblies \| United States
Revenue recognition
Net sales	721.8	515.8	1,343.5	1,087.2
Interconnect Products and Assemblies \| China
Revenue recognition
Net sales	687.6	642.7	1,345.3	1,059.6
Interconnect Products and Assemblies \| Other foreign locations
Revenue recognition
Net sales	1,131.9	740.0	2,132.6	1,530.7
Interconnect Products and Assemblies \| End customers and contract manufacturers
Revenue recognition
Net sales	2,094.9	1,574.1	4,025.9	3,062.7
Interconnect Products and Assemblies \| Distributors and resellers
Revenue recognition
Net sales	446.4	324.4	795.5	614.8
Cable Products and Solutions
Revenue recognition
Net sales	112.6	89.0	209.6	172.0
Cable Products and Solutions \| United States
Revenue recognition
Net sales	57.3	54.0	109.5	98.0
Cable Products and Solutions \| China
Revenue recognition
Net sales	2.6	1.7	5.8	2.4
Cable Products and Solutions \| Other foreign locations
Revenue recognition
Net sales	52.7	33.3	94.3	71.6
Cable Products and Solutions \| End customers and contract manufacturers
Revenue recognition
Net sales	92.1	76.8	174.4	143.0
Cable Products and Solutions \| Distributors and resellers
Revenue recognition
Net sales	$ 20.5	$ 12.2	$ 35.2	$ 29.0

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Commitments and Contingencies (Details) € in Millions	6 Months Ended	11 Months Ended
Commitments and Contingencies (Details) € in Millions	Jun. 30, 2021 EUR (€)	Oct. 31, 2020 lawsuit
Commitments and Contingencies
Number of lawsuits \| lawsuit		4
Domicile of litigation		Indiana
Customer's claimed damages that is subject to arbitrator discretion to determine actual amount of damages and apportionment of responsibility \| €	€ 80