TE CONNECTIVITY PLC, 10-Q filed on 4/24/2026
Quarterly Report
v3.26.1
Document and Entity Information - shares
6 Months Ended
Mar. 27, 2026
Apr. 20, 2026
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 27, 2026  
Document Transition Report false  
Securities Act File Number 001-33260  
Entity Registrant Name TE CONNECTIVITY PLC  
Entity Central Index Key 0001385157  
Entity Incorporation, State or Country Code L2  
Entity Tax Identification Number 98-1779916  
Country Region +353  
City Area Code 91  
Local Phone Number 378 040  
Entity Address, Address Line One Parkmore Business Park West  
Entity Address, Address Line Two Parkmore  
Entity Address, Postal Zip Code H91VN2T  
Entity Address, City or Town Galway  
Entity Address, Country IE  
Amendment Flag false  
Current Fiscal Year End Date --09-25  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   291,895,799
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Ordinary Shares    
Title of 12(b) Security Ordinary Shares, Par Value $0.01  
Trading Symbol TEL  
Security Exchange Name NYSE  
2.50% euro-denominated senior notes due 2028    
Title of 12(b) Security 2.50% Senior Notes due 2028*  
Trading Symbol TEL/28  
Security Exchange Name NYSE  
0.00% Senior Notes due 2029    
Title of 12(b) Security 0.00% Senior Notes due 2029*  
Trading Symbol TEL/29  
Security Exchange Name NYSE  
3.25% euro-denominated senior notes due 2033    
Title of 12(b) Security 3.25% Senior Notes due 2033*  
Trading Symbol TEL/33  
Security Exchange Name NYSE  
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 4,744 $ 4,143 $ 9,413 $ 7,979
Cost of sales 2,999 2,684 5,929 5,160
Gross margin 1,745 1,459 3,484 2,819
Selling, general, and administrative expenses 536 454 1,074 881
Research, development, and engineering expenses 237 203 462 391
Acquisition and integration costs 8 9 11 14
Restructuring and other charges, net 10 45 20 95
Operating income 954 748 1,917 1,438
Interest income 21 22 46 45
Interest expense (32) (14) (62) (20)
Other income (expense), net (1) (1) 2 (2)
Income from continuing operations before income taxes 942 755 1,903 1,461
Income tax expense (87) (742) (297) (920)
Income from continuing operations 855 13 1,606 541
Loss from discontinued operations, net of income taxes     (1)  
Net income $ 855 $ 13 $ 1,605 $ 541
Basic earnings per share:        
Income from continuing operations (in dollars per share) $ 2.92 $ 0.04 $ 5.46 $ 1.81
Net income (in dollars per share) 2.92 0.04 5.46 1.81
Diluted earnings per share:        
Income from continuing operations (in dollars per share) 2.9 0.04 5.43 1.8
Net income (in dollars per share) $ 2.9 $ 0.04 $ 5.42 $ 1.8
Weighted-average number of shares outstanding:        
Basic (in shares) 293 298 294 299
Diluted (in shares) 295 300 296 301
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME        
Net income $ 855 $ 13 $ 1,605 $ 541
Other comprehensive income (loss):        
Currency translation 15 21 108 (145)
Adjustments to unrecognized pension and postretirement benefit costs, net of income taxes 1 2 2 (7)
Gains (losses) on cash flow hedges, net of income taxes (73) 85 31 29
Other comprehensive income (loss) (57) 108 141 (123)
Comprehensive income 798 121 1,746 418
Less: comprehensive (income) loss attributable to noncontrolling interests 3 (5) 2 4
Comprehensive income attributable to TE Connectivity plc $ 801 $ 116 $ 1,748 $ 422
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 27, 2026
Sep. 26, 2025
Current assets:    
Cash and cash equivalents $ 1,110 $ 1,255
Accounts receivable, net of allowance for doubtful accounts of $52 and $44, respectively 3,454 3,403
Inventories 2,995 2,699
Prepaid expenses and other current assets 682 609
Total current assets 8,241 7,966
Property, plant, and equipment, net 4,473 4,312
Goodwill 7,437 7,126
Intangible assets, net 2,145 2,227
Deferred income taxes 2,337 2,507
Other assets 1,046 943
Total assets 25,679 25,081
Current liabilities:    
Short-term debt 102 852
Accounts payable 2,224 2,021
Accrued and other current liabilities 2,039 2,247
Total current liabilities 4,365 5,120
Long-term debt 5,553 4,842
Long-term pension and postretirement liabilities 750 767
Deferred income taxes 198 198
Income taxes 306 414
Other liabilities 1,125 1,010
Total liabilities 12,297 12,351
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests 148 145
Shareholders' equity:    
Preferred shares, $1.00 par value, 2 shares authorized, none outstanding
Ordinary shares 3 3
Accumulated earnings 13,900 13,932
Ordinary shares held in treasury, at cost, 3,632,502 and 8,330,931 shares, respectively (818) (1,356)
Accumulated other comprehensive income 149 6
Total shareholders' equity 13,234 12,585
Total liabilities, redeemable noncontrolling interests, and shareholders' equity 25,679 25,081
Ordinary class A    
Shareholders' equity:    
Ordinary shares
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)
$ in Millions
Mar. 27, 2026
USD ($)
$ / shares
shares
Mar. 27, 2026
€ / shares
Sep. 26, 2025
USD ($)
$ / shares
shares
Sep. 26, 2025
€ / shares
Accounts receivable, allowance for doubtful accounts (in dollars) | $ $ 52   $ 44  
Preferred shares, par value (in currency per share) | $ / shares $ 1   $ 1  
Preferred shares, shares authorized 2   2  
Preferred shares, shares outstanding 0   0  
Ordinary shares, par value (in currency per share) | $ / shares $ 0.01   $ 0.01  
Ordinary shares, shares authorized 1,500,000,000   1,500,000,000  
Ordinary shares, shares issued 295,773,434   302,889,075  
Ordinary shares and common shares held in treasury 3,632,502   8,330,931  
Ordinary class A        
Ordinary shares, par value (in currency per share) | € / shares   € 1   € 1
Ordinary shares, shares authorized 25,000   25,000  
Ordinary shares, shares outstanding 0   0  
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Ordinary Shares
Ordinary Shares Held in Treasury
Contributed Surplus
Accumulated Earnings
Accumulated Other Comprehensive Income (Loss)
Total
Balance at Sep. 27, 2024 $ 139 $ (2,322)   $ 14,533 $ 5 $ 12,355
Balance (in shares) at Sep. 27, 2024 316,000,000          
Ordinary Shares Held in Treasury (in shares) at Sep. 27, 2024   (17,000,000)        
Increase (Decrease) in Shareholders' Equity:            
Change in place of incorporation $ (136)     136    
Net income       541   541
Other comprehensive income (loss)         (119) (119)
Share-based compensation expense     $ 69     69
Dividends       (209)   (209)
Exercise of share options     59     59
Exercise of share options (in shares) 1,000,000          
Restricted share award vestings and other activity     (128) 132   4
Restricted share award vestings and other activity (in shares) 1,000,000          
Repurchase of ordinary shares   $ (615)       $ (615)
Repurchase of ordinary shares (in shares)   (4,000,000)       (4,000,000)
Cancellation of treasury shares   $ 2,322   (2,322)    
Cancellation of treasury shares (in shares) (17,000,000) 17,000,000        
Balance at Mar. 28, 2025 $ 3 $ (615)   12,811 (114) $ 12,085
Balance (in shares) at Mar. 28, 2025 301,000,000          
Ordinary Shares Held in Treasury (in shares) at Mar. 28, 2025   (4,000,000)        
Balance at Dec. 27, 2024 $ 3 $ (310)   12,933 (217) 12,409
Balance (in shares) at Dec. 27, 2024 301,000,000          
Ordinary Shares Held in Treasury (in shares) at Dec. 27, 2024   (2,000,000)        
Increase (Decrease) in Shareholders' Equity:            
Net income       13   13
Other comprehensive income (loss)         103 103
Share-based compensation expense     34     34
Dividends       (209)   (209)
Exercise of share options     25     25
Restricted share award vestings and other activity     (59) 74   15
Repurchase of ordinary shares   $ (305)       (305)
Repurchase of ordinary shares (in shares)   (2,000,000)        
Balance at Mar. 28, 2025 $ 3 $ (615)   12,811 (114) 12,085
Balance (in shares) at Mar. 28, 2025 301,000,000          
Ordinary Shares Held in Treasury (in shares) at Mar. 28, 2025   (4,000,000)        
Balance at Sep. 26, 2025 $ 3 $ (1,356)   13,932 6 $ 12,585
Balance (in shares) at Sep. 26, 2025 303,000,000          
Ordinary Shares Held in Treasury (in shares) at Sep. 26, 2025   (8,000,000)       (8,330,931)
Increase (Decrease) in Shareholders' Equity:            
Net income       1,605   $ 1,605
Other comprehensive income (loss)         143 143
Share-based compensation expense     92     92
Dividends       (436)   (436)
Exercise of share options     65     65
Restricted share award vestings and other activity     (157) 155   (2)
Restricted share award vestings and other activity (in shares) 1,000,000          
Repurchase of ordinary shares   $ (818)       $ (818)
Repurchase of ordinary shares (in shares)   (4,000,000)       (4,000,000)
Cancellation of treasury shares   $ 1,356   (1,356)    
Cancellation of treasury shares (in shares) (8,000,000) 8,000,000        
Balance at Mar. 27, 2026 $ 3 $ (818)   13,900 149 $ 13,234
Balance (in shares) at Mar. 27, 2026 296,000,000          
Ordinary Shares Held in Treasury (in shares) at Mar. 27, 2026   (4,000,000)       (3,632,502)
Balance at Dec. 26, 2025 $ 3 $ (1,762)   14,543 203 $ 12,987
Balance (in shares) at Dec. 26, 2025 304,000,000          
Ordinary Shares Held in Treasury (in shares) at Dec. 26, 2025   (10,000,000)        
Increase (Decrease) in Shareholders' Equity:            
Net income       855   855
Other comprehensive income (loss)         (54) (54)
Share-based compensation expense     42     42
Dividends       (228)   (228)
Exercise of share options     21     21
Restricted share award vestings and other activity     $ (63) 86   23
Repurchase of ordinary shares   $ (412)       (412)
Repurchase of ordinary shares (in shares)   (2,000,000)        
Cancellation of treasury shares   $ 1,356   (1,356)    
Cancellation of treasury shares (in shares) (8,000,000) 8,000,000        
Balance at Mar. 27, 2026 $ 3 $ (818)   $ 13,900 $ 149 $ 13,234
Balance (in shares) at Mar. 27, 2026 296,000,000          
Ordinary Shares Held in Treasury (in shares) at Mar. 27, 2026   (4,000,000)       (3,632,502)
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 27, 2026
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY    
Dividend declared (in currency per share) $ 0.78 $ 1.49
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Cash flows from operating activities:    
Net income $ 1,605 $ 541
Loss from discontinued operations, net of income taxes 1  
Income from continuing operations 1,606 541
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 502 378
Deferred income taxes 159 701
Non-cash lease cost 78 69
Provision for losses on accounts receivable and inventories 49 43
Share-based compensation expense 92 69
Other (25) 34
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:    
Accounts receivable, net (59) (171)
Inventories (331) (132)
Prepaid expenses and other current assets (14) 140
Accounts payable 177 146
Accrued and other current liabilities (264) (298)
Income taxes (84) 55
Other (74) (44)
Net cash provided by operating activities 1,812 1,531
Cash flows from investing activities:    
Capital expenditures (528) (435)
Proceeds from sale of property, plant, and equipment 4 2
Acquisition of businesses, net of cash acquired (200) (321)
Other   (7)
Net cash used in investing activities (724) (761)
Cash flows from financing activities:    
Net increase in commercial paper 100 1,245
Proceeds from issuance of debt 750 773
Repayment of debt (851) (579)
Proceeds from exercise of share options 64 59
Repurchase of ordinary shares (819) (609)
Payment of ordinary share dividends to shareholders (417) (382)
Other (58) (33)
Net cash provided by (used in) financing activities (1,231) 474
Effect of currency translation on cash (2) (9)
Net increase (decrease) in cash, cash equivalents, and restricted cash (145) 1,235
Cash, cash equivalents, and restricted cash at beginning of fiscal period 1,255 1,319
Cash, cash equivalents, and restricted cash at end of fiscal period $ 1,110 $ 2,554
v3.26.1
Basis of Presentation
6 Months Ended
Mar. 27, 2026
Basis of Presentation  
Basis of Presentation

1. Basis of Presentation

The unaudited Condensed Consolidated Financial Statements of TE Connectivity plc (“TE Connectivity” or the “Company,” which may be referred to as “we,” “us,” or “our”) have been prepared in United States (“U.S.”) dollars, in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and the instructions to Form 10-Q under the Securities Exchange Act of 1934. In management’s opinion, the unaudited Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary for a fair presentation of interim results. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire fiscal year or any subsequent interim period.

The year-end balance sheet data was derived from audited financial statements, but does not include all of the information and disclosures required by GAAP. These financial statements should be read in conjunction with our audited Consolidated Financial Statements contained in our Annual Report on Form 10-K for the fiscal year ended September 26, 2025.

Unless otherwise indicated, references in the Condensed Consolidated Financial Statements to fiscal 2026 and fiscal 2025 are to our fiscal years ending September 25, 2026 and ended September 26, 2025, respectively.

v3.26.1
Restructuring and Other Charges, Net
6 Months Ended
Mar. 27, 2026
Restructuring and Other Charges, Net  
Restructuring and Other Charges, Net

2. Restructuring and Other Charges, Net

Net restructuring and other charges consisted of the following:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Restructuring charges, net

$

3

$

44

$

13

$

87

Costs related to change in place of incorporation

1

11

Other charges (credits), net

 

7

 

 

7

 

(3)

Restructuring and other charges, net

$

10

$

45

$

20

$

95

Restructuring Charges, Net

Net restructuring charges by segment were as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions

$

1

$

33

$

5

$

59

Industrial Solutions

 

2

 

11

 

8

 

28

Restructuring charges, net

$

3

$

44

$

13

$

87

Activity in our restructuring reserves was as follows:

Balance at

Balance at

  ​

September 26,

Changes in

Cash

Non-Cash

Currency

March 27,

  ​ ​ ​

2025

  ​ ​ ​

Charges

  ​ ​ ​

Estimate

  ​ ​ ​

Payments

  ​ ​ ​

Items

  ​ ​ ​

Translation

  ​ ​ ​

2026

  ​ ​ ​

(in millions)

Fiscal 2026 Actions:

Employee severance

$

$

3

$

$

$

$

$

3

Facility and other exit costs

1

(1)

Property, plant, and equipment

2

(2)

Total

6

(1)

(2)

3

Fiscal 2025 Actions:

Employee severance

75

(3)

(21)

(1)

50

Total

75

(3)

(21)

(1)

50

Pre-Fiscal 2025 Actions:

Employee severance

98

8

2

(28)

(1)

79

Facility and other exit costs

4

(3)

1

Total

102

8

2

(31)

(1)

80

Total Activity

$

177

$

14

$

(1)

$

(53)

$

(2)

$

(2)

$

133

Fiscal 2026 Actions

During fiscal 2026, we initiated a restructuring program to optimize our manufacturing footprint and improve the cost structure of our organization. During the six months ended March 27, 2026, we recorded restructuring charges of $6 million in connection with this program. We expect to complete all restructuring actions commenced during the six months ended March 27, 2026 by the end of fiscal 2028 and anticipate that additional charges related to actions commenced during the six months ended March 27, 2026 will be insignificant.

Fiscal 2025 Actions

During fiscal 2025, we initiated a restructuring program associated with footprint consolidation and cost structure improvements in both of our segments. In connection with this program, during the six months ended March 27, 2026 and March 28, 2025, we recorded restructuring credits of $3 million and charges of $77 million, respectively. We expect to complete all restructuring actions commenced during fiscal 2025 by the end of fiscal 2033 and to incur additional charges of approximately $11 million related primarily to facility exit costs in the Industrial Solutions segment.

Pre-Fiscal 2025 Actions

During both the six months ended March 27, 2026 and March 28, 2025, we recorded net restructuring charges of $10 million related to pre-fiscal 2025 actions. We expect that any additional charges related to restructuring actions commenced prior to fiscal 2025 will be insignificant.

Total Restructuring Reserves

Restructuring reserves included on the Condensed Consolidated Balance Sheets were as follows:

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Accrued and other current liabilities

$

108

$

163

Other liabilities

 

25

 

14

Restructuring reserves

$

133

$

177

v3.26.1
Acquisitions
6 Months Ended
Mar. 27, 2026
Acquisitions  
Acquisitions

3. Acquisitions

During the six months ended March 27, 2026, we acquired one business for a cash purchase price of $200 million, net of cash acquired. The acquisition includes certain earn-out provisions based on business performance for which we have estimated the acquisition-date fair value to be approximately $150 million. The acquired business has been reported as part of our Industrial Solutions segment from the date of acquisition.

During the six months ended March 28, 2025, we acquired two businesses for a combined cash purchase price of $321 million, net of cash acquired. The acquired businesses have been reported as part of our Industrial Solutions segment from the date of acquisition.

v3.26.1
Inventories
6 Months Ended
Mar. 27, 2026
Inventories  
Inventories

4. Inventories

Inventories consisted of the following:

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Raw materials

$

464

$

420

Work in progress

 

1,151

 

1,078

Finished goods

 

1,380

 

1,201

Inventories

$

2,995

$

2,699

v3.26.1
Goodwill
6 Months Ended
Mar. 27, 2026
Goodwill.  
Goodwill

5. Goodwill

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

  ​ ​ ​

Transportation

  ​ ​ ​

Industrial

  ​ ​ ​

  ​ ​ ​

Solutions

Solutions

Total

(in millions)

September 26, 2025(1)

$

1,609

$

5,517

$

7,126

Acquisition

308

308

Purchase price adjustments

21

21

Currency translation

 

(4)

 

(14)

 

(18)

March 27, 2026(1)

$

1,605

$

5,832

$

7,437

(1)At March 27, 2026 and September 26, 2025, accumulated impairment losses for the Transportation Solutions and Industrial Solutions segments were $3,091 million and $1,158 million, respectively.

During the six months ended March 27, 2026, we recognized goodwill in the Industrial Solutions segment in connection with a recent acquisition. See Note 3 for additional information regarding acquisitions.

v3.26.1
Intangible Assets, Net
6 Months Ended
Mar. 27, 2026
Intangible Assets, Net  
Intangible Assets, Net

6. Intangible Assets, Net

Net intangible assets consisted of the following:

March 27, 2026

September 26, 2025

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Amount

Amortization

Amount

Amount

Amortization

Amount

  ​ ​ ​

(in millions)

Customer relationships

$

3,013

$

(1,193)

$

1,820

$

3,033

$

(1,118)

$

1,915

Intellectual property

725

(415)

310

727

(430)

297

Other

 

24

 

(9)

 

15

 

23

 

(8)

 

15

Total

$

3,762

$

(1,617)

$

2,145

$

3,783

$

(1,556)

$

2,227

Intangible asset amortization expense was $57 million and $41 million for the quarters ended March 27, 2026 and March 28, 2025, respectively, and $114 million and $80 million for the six months ended March 27, 2026 and March 28, 2025, respectively.

At March 27, 2026, the aggregate amortization expense on intangible assets is expected to be as follows:

  ​ ​ ​

(in millions)

  ​

Remainder of fiscal 2026

$

114

Fiscal 2027

212

Fiscal 2028

 

175

Fiscal 2029

 

170

Fiscal 2030

 

159

Fiscal 2031

 

159

Thereafter

 

1,156

Total

$

2,145

v3.26.1
Debt
6 Months Ended
Mar. 27, 2026
Debt  
Debt

7. Debt

During the quarter ended March 27, 2026, Tyco Electronics Group S.A. (“TEGSA”), our wholly-owned subsidiary, issued $200 million aggregate principal amount of 4.50% senior notes due in February 2031 and $550 million aggregate principal amount of 4.875% senior notes due in February 2036. The February 2031 senior notes represent a further issuance of TEGSA’s outstanding $450 million aggregate principal amount of 4.50% senior notes which were issued in fiscal 2025 and bring the total aggregate principal amount of the 4.50% senior notes due in February 2031 to $650 million. The new notes are TEGSA’s unsecured senior obligations and rank equally in right of payment with all existing and any future senior indebtedness of TEGSA and senior to any subordinated indebtedness that TEGSA may incur.

During the quarter ended March 27, 2026, TEGSA repaid, at maturity, $500 million of 4.50% senior notes and $350 million of 3.70% senior notes, both due in February 2026.

At March 27, 2026, TEGSA had $100 million of commercial paper outstanding at a weighted-average interest rate of 4.0%. TEGSA had no commercial paper outstanding at September 26, 2025.

TEGSA entered into a new five-year unsecured senior revolving credit facility (“Credit Facility”) in February 2026 with aggregate commitments of $3.0 billion, which refinanced and replaced in full TEGSA’s existing $1.5 billion five-year

unsecured senior revolving credit facility (the “Replaced Credit Facility”). The Credit Facility matures in February 2031 and contains provisions that allow for incremental commitments of up to $1.0 billion, subject to terms and conditions in the Credit Facility. TEGSA had no borrowings under the Credit Facility at March 27, 2026 or the Replaced Credit Facility at September 26, 2025.

Borrowings under the Credit Facility bear interest at a rate per annum equal to, at the option of TEGSA, (1) with respect to borrowings in U.S. dollars, (a) the term secured overnight financing rate (“Term SOFR”) (as defined in the Credit Facility) or (b) an alternate base rate equal to the highest of (i) Bank of America, N.A.’s base rate, (ii) the federal funds effective rate plus 1/2 of 1%, (iii) the Term SOFR for a one-month interest period plus 1%, and (iv) 1%, (2) with respect to borrowings in euro, the Euro Interbank Offered Rate, (3) with respect to borrowings in sterling, the Sterling Overnight Index Average Reference Rate, and (4) with respect to borrowings in yen, the Tokyo Interbank Offered Rate, plus, in each case, an applicable margin based upon the senior, unsecured, long-term debt rating of TEGSA. TEGSA is required to pay an annual facility fee. Based on the applicable credit ratings of TEGSA, this fee ranges from 5.0 to 12.5 basis points of the lenders’ commitments under the Credit Facility.

Payment obligations under TEGSA’s senior notes, commercial paper, and Credit Facility are fully and unconditionally guaranteed on an unsecured basis by TEGSA’s parent, TE Connectivity Switzerland Ltd., and its parent, TE Connectivity plc.

The fair value of our debt, based on indicative valuations, was approximately $5,568 million and $5,725 million at March 27, 2026 and September 26, 2025, respectively.

v3.26.1
Leases
6 Months Ended
Mar. 27, 2026
Leases  
Leases

8. Leases

The components of lease cost were as follows:

For the

For the

Quarters Ended

  ​ ​ ​

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

Operating lease cost

$

39

$

35

$

78

$

69

Variable lease cost

14

14

26

29

Total lease cost

$

53

$

49

$

104

$

98

Cash flow information, including significant non-cash transactions, related to leases was as follows:

For the

Six Months Ended

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

Cash paid for amounts included in the measurement of lease liabilities:

Payments for operating leases(1)

$

78

$

70

Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities

117

77

(1)These payments are included in cash flows from operating activities, primarily in changes in accrued and other current liabilities.
v3.26.1
Commitments and Contingencies
6 Months Ended
Mar. 27, 2026
Commitments and Contingencies.  
Commitments and Contingencies

9. Commitments and Contingencies

Legal Proceedings

In the normal course of business, we are subject to various legal proceedings and claims, including patent infringement claims, product liability matters, employment disputes, disputes on agreements, other commercial disputes, environmental matters, antitrust claims, trade compliance matters, and tax matters, including non-income tax matters such as value added tax, sales and use tax, real estate tax, and transfer tax. Although it is not feasible to predict the outcome of these proceedings, based upon our experience, current information, and applicable law, we do not expect that the outcome of these proceedings, either individually or in the aggregate, will have a material effect on our results of operations, financial position, or cash flows.

Trade Compliance Matters

As part of our ongoing internal compliance activities, we have been investigating compliance with relevant country of origin for import matters and recently made a voluntary disclosure to the U.S. Customs and Border Protection Agency regarding potential Section 301 unpaid duties, fees, and interest for certain imported products into the U.S. We are unable to predict the timing and final outcome of investigation into this matter. An unfavorable outcome may include unpaid duties, fees, interest, and penalties imposed in response to our disclosures. Based on currently available information, we have reserved an aggregate of $27 million related to this exposure. The investigation into this matter has yet to be completed and the final outcome of such investigation and related duties, fees, interest, and potential penalties may differ from amounts currently reserved.

Environmental Matters

We are involved in various stages of investigation and cleanup related to environmental remediation matters at a number of sites. The ultimate cost of site cleanup is difficult to predict given the uncertainties regarding the extent of the required cleanup, the interpretation of applicable laws and regulations, and alternative cleanup methods. As of March 27, 2026, we concluded that we would incur investigation and remediation costs at these sites in the reasonably possible range of $20 million to $53 million, and we accrued $27 million as the probable loss, which was the best estimate within this range. We believe that any potential payment of such estimated amounts will not have a material adverse effect on our results of operations, financial position, or cash flows.

Guarantees

In disposing of assets or businesses, we often provide representations, warranties, and/or indemnities to cover various risks including unknown damage to assets, environmental risks involved in the sale of real estate, liability for investigation and remediation of environmental contamination at waste disposal sites and manufacturing facilities, and unidentified tax liabilities and legal fees related to periods prior to disposition. We do not expect that these uncertainties will have a material adverse effect on our results of operations, financial position, or cash flows.

At March 27, 2026, we had outstanding letters of credit, letters of guarantee, and surety bonds of $251 million to support normal business activities.

Supply Chain Finance Program

We have an agreement with a financial institution that allows participating suppliers the ability to finance payment obligations. The financial institution has separate arrangements with the suppliers and provides them with the option to request early payment for invoices. We do not determine the terms or conditions of the arrangement between the financial institution and suppliers. Our obligation to suppliers, including amounts due and scheduled payment dates, are not impacted

by the suppliers’ decisions to finance amounts under the arrangement and we are not required to post collateral with the financial institution. The outstanding payment obligations under our supply chain finance program, which are included in accounts payable on our Condensed Consolidated Balance Sheets, were $134 million and $161 million at March 27, 2026 and September 26, 2025, respectively.

v3.26.1
Financial Instruments
6 Months Ended
Mar. 27, 2026
Financial Instruments  
Financial Instruments

10. Financial Instruments

Foreign Currency Exchange Rate Risk

As part of managing the exposure to changes in foreign currency exchange rates, we utilize cross-currency swap contracts and foreign currency forward contracts, a portion of which are designated as cash flow hedges. The objective of these contracts is to minimize impacts to cash flows and profitability due to changes in foreign currency exchange rates on intercompany and other cash transactions. We expect that significantly all of the balance in accumulated other comprehensive income (loss) associated with the cash flow hedge-designated instruments addressing foreign exchange risks will be reclassified into the Condensed Consolidated Statement of Operations within the next twelve months.

Hedge of Net Investment

We hedge our net investment in certain foreign operations using intercompany loans and external borrowings denominated in the same currencies. The aggregate notional value of these hedges was $3,370 million and $4,212 million at March 27, 2026 and September 26, 2025, respectively.

We also use a cross-currency swap program to hedge our net investment in certain foreign operations. The aggregate notional value of the contracts under this program was $5,712 million and $5,671 million at March 27, 2026 and September 26, 2025, respectively. Under the terms of these contracts, we receive interest in U.S. dollars at a weighted-average rate of 1.9% per annum and pay no interest. Upon the maturity of these contracts at various dates through fiscal 2031, we will pay the notional value of the contracts in the designated foreign currency and receive U.S. dollars from our counterparties. We are not required to provide collateral for these contracts.

These cross-currency swap contracts were recorded on the Condensed Consolidated Balance Sheets as follows:

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

26

$

11

Other assets

 

79

 

23

Accrued and other current liabilities

89

97

Other liabilities

117

193

The impacts of our hedge of net investment programs were as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Foreign currency exchange gains (losses) on intercompany loans and external borrowings(1)

$

82

$

(103)

$

55

$

39

Gains (losses) on cross-currency swap contracts designated as hedges of net investment(1)

 

84

 

(164)

 

112

 

178

(1)Recorded as currency translation, a component of accumulated other comprehensive income (loss), and offset by changes attributable to the translation of the net investment.

Commodity Hedges

As part of managing the exposure to certain commodity price fluctuations, we utilize commodity swap contracts. The objective of these contracts is to minimize impacts to cash flows and profitability due to changes in prices of commodities used in production. These contracts had an aggregate notional value of $644 million and $569 million at March 27, 2026 and September 26, 2025, respectively, and were designated as cash flow hedges. These commodity swap contracts were recorded on the Condensed Consolidated Balance Sheets as follows:

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

109

$

73

Other assets

 

5

 

7

Accrued and other current liabilities

12

Other liabilities

7

The impacts of our commodity swap contracts were as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Gains (losses) recorded in other comprehensive income (loss)

$

(10)

$

98

$

134

  ​ ​ ​

$

52

Gains reclassified from accumulated other comprehensive income (loss) into cost of sales

73

8

102

22

We expect that significantly all of the balance in accumulated other comprehensive income (loss) associated with commodity hedges will be reclassified into the Condensed Consolidated Statement of Operations within the next twelve months.

v3.26.1
Retirement Plans
6 Months Ended
Mar. 27, 2026
Retirement Plans  
Retirement Plans

11. Retirement Plans

The net periodic pension benefit cost (credit) for all non-U.S. and U.S. defined benefit pension plans was as follows:

Non-U.S. Plans

U.S. Plans

For the

For the

Quarters Ended

Quarters Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Operating expense:

Service cost

$

7

$

8

$

2

$

2

Other (income) expense:

Interest cost

 

17

 

15

 

8

 

8

Expected returns on plan assets

 

(15)

 

(15)

 

(12)

 

(11)

Amortization of net actuarial loss

 

2

 

2

 

1

 

1

Amortization of prior service credit

 

(1)

 

(1)

 

 

Net periodic pension benefit cost (credit)

$

10

$

9

$

(1)

$

Non-U.S. Plans

U.S. Plans

For the

For the

Six Months Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Operating expense:

Service cost

$

15

$

16

$

3

$

4

Other (income) expense:

Interest cost

 

34

 

31

 

17

 

16

Expected returns on plan assets

 

(30)

 

(30)

 

(24)

 

(22)

Amortization of net actuarial loss

 

3

 

4

 

2

 

2

Amortization of prior service credit

 

(2)

 

(2)

 

 

Net periodic pension benefit cost (credit)

$

20

$

19

$

(2)

$

During the six months ended March 27, 2026, we contributed $23 million and $8 million to our non-U.S. and U.S. pension plans, respectively.

v3.26.1
Income Taxes
6 Months Ended
Mar. 27, 2026
Income Taxes  
Income Taxes

12. Income Taxes

We recorded income tax expense of $87 million and $742 million for the quarters ended March 27, 2026 and March 28, 2025, respectively. The income tax expense for quarter ended March 27, 2026 included a $114 million net income tax benefit related primarily to the settlement of prior period tax matters. The income tax expense for the quarter ended March 28, 2025 included $574 million of income tax expense related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024.

We recorded income tax expense of $297 million and $920 million for the six months ended March 27, 2026 and March 28, 2025, respectively. The income tax expense for the six months ended March 27, 2026 included a $114 million net income tax benefit related primarily to the settlement of prior period tax matters. The income tax expense for the six months ended March 28, 2025 included $574 million of income tax expense related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024. In addition, the

income tax expense for the six months ended March 28, 2025 included $13 million of income tax expense related to the revaluation of deferred tax assets as a result of a decrease in the corporate tax rate in a non-U.S. jurisdiction.

We record accrued interest and penalties related to uncertain tax positions as part of income tax expense (benefit). As of March 27, 2026 and September 26, 2025, we had $41 million and $89 million, respectively, of accrued interest and penalties related to uncertain tax positions on the Condensed Consolidated Balance Sheets, recorded primarily in income taxes. During the six months ended March 27, 2026, we recognized an income tax benefit of $48 million related to interest and penalties on the Condensed Consolidated Statements of Operations. Substantially all of this income tax benefit was recognized as part of the settlement of prior period tax matters discussed above.

v3.26.1
Earnings Per Share
6 Months Ended
Mar. 27, 2026
Earnings Per Share  
Earnings Per Share

13. Earnings Per Share

The weighted-average number of shares outstanding used in the computations of basic and diluted earnings per share were as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Basic

293

298

294

299

Dilutive impact of share-based compensation arrangements

2

2

2

2

Diluted

295

300

296

301

The following share options were not included in the computation of diluted earnings per share because the instruments’ underlying exercise prices were greater than the average market prices of our ordinary shares and inclusion would be antidilutive:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Antidilutive share options

 

1

1

v3.26.1
Shareholders' Equity
6 Months Ended
Mar. 27, 2026
Shareholders' Equity  
Shareholders' Equity

14. Shareholders’ Equity

Ordinary Shares Held in Treasury

In March 2026, our Board of Directors approved the cancellation of approximately 8.3 million ordinary shares purchased under our share repurchase program during fiscal 2025. The cancellation became effective during the quarter ended March 27, 2026.

Dividends

We paid cash dividends to shareholders as follows:

For the

For the

 

Quarters Ended

Six Months Ended

 

  ​ ​ ​

March 27,

  ​ ​ ​

March 28,

  ​ ​ ​

March 27,

  ​ ​ ​

March 28,

 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Dividends paid per ordinary share

$

0.71

$

0.65

$

1.42

$

1.30

In March 2026, our Board of Directors declared a regular quarterly cash dividend of $0.78 per ordinary share, payable on June 12, 2026, to shareholders of record on May 22, 2026.

Share Repurchase Program

During the quarter ended March 27, 2026, our Board of Directors authorized an increase of $3.0 billion in our share repurchase program. Ordinary shares repurchased under the share repurchase program were as follows:

For the

Six Months Ended

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Number of ordinary shares repurchased

 

4

 

4

Repurchase value

 

$

818

 

$

615

At March 27, 2026, we had $3.6 billion of availability remaining under our share repurchase authorization.

v3.26.1
Share Plans
6 Months Ended
Mar. 27, 2026
Share Plans  
Share Plans

15. Share Plans

Share-based compensation expense, which was included in selling, general, and administrative expenses on the Condensed Consolidated Statements of Operations, was as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Share-based compensation expense

 

$

42

 

$

34

$

92

 

$

69

As of March 27, 2026, there was $193 million of unrecognized compensation expense related to share-based awards, which is expected to be recognized over a weighted-average period of 1.5 years.

During the quarter ended December 26, 2025, we granted the following share-based awards as part of our annual incentive plan grant:

Grant-Date

  ​ ​ ​

Shares

  ​ ​ ​

Fair Value

  ​ ​ ​

(in millions)

Share options

0.3

$

67.29

Restricted share awards

0.3

 

236.28

Performance share awards

0.1

236.28

As of March 27, 2026, we had 17 million shares available for issuance under the TE Connectivity plc 2024 Stock and Incentive Plan, amended and restated as of September 30, 2024.

Share-Based Compensation Assumptions

The assumptions we used in the Black-Scholes-Merton option pricing model for the options granted as part of our annual incentive plan grant were as follows:

Expected share price volatility

  ​ ​ ​

 

27

%

  ​ ​ ​

Risk-free interest rate

 

3.9

%

Expected annual dividend per share

$

2.84

Expected life of options (in years)

 

5.5

v3.26.1
Segment and Geographic Data
6 Months Ended
Mar. 27, 2026
Segment and Geographic Data  
Segment and Geographic Data

16. Segment and Geographic Data

Net sales by segment(1) and industry end market were as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions:

Automotive

$

1,762

$

1,735

$

3,647

$

3,457

Commercial transportation

 

433

 

357

 

803

 

669

Sensors

 

227

 

222

 

439

 

431

Total Transportation Solutions

2,422

2,314

4,889

4,557

Industrial Solutions:

Digital data networks

 

714

 

482

 

1,421

 

895

Automation and connected living

579

512

1,128

991

Aerospace, defense, and marine

408

374

789

708

Energy

 

445

 

279

 

851

 

495

Medical

176

182

335

333

Total Industrial Solutions

2,322

1,829

4,524

3,422

Total

$

4,744

$

4,143

$

9,413

$

7,979

(1)Intersegment sales were not material.

Net sales by geographic region(1) and segment were as follows:

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Asia–Pacific:

Transportation Solutions

$

1,017

$

997

$

2,262

$

2,094

Industrial Solutions

 

734

 

545

 

1,495

 

1,051

Total Asia–Pacific

 

1,751

 

1,542

 

3,757

 

3,145

Europe/Middle East/Africa (“EMEA”):

Transportation Solutions

919

819

1,714

1,539

Industrial Solutions

 

692

 

594

 

1,337

 

1,103

Total EMEA

 

1,611

 

1,413

 

3,051

 

2,642

Americas:

Transportation Solutions

486

498

913

924

Industrial Solutions

 

896

 

690

 

1,692

 

1,268

Total Americas

 

1,382

 

1,188

 

2,605

 

2,192

Total

$

4,744

$

4,143

$

9,413

$

7,979

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

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

For the Quarter Ended March 27, 2026

For the Six Months Ended March 27, 2026

Transportation

Industrial

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,422

$

2,322

$

4,744

$

4,889

$

4,524

$

9,413

Less:

Cost of sales

1,550

1,449

2,999

3,126

2,803

5,929

Selling, general, and administrative expenses

247

289

536

516

558

1,074

Research, development, and engineering expenses

121

116

237

238

224

462

Other segment items(1)

1

17

18

5

26

31

Operating income

$

503

$

451

$

954

$

1,004

$

913

$

1,917

Depreciation

$

106

$

80

$

186

$

231

$

157

$

388

Amortization

18

39

57

36

78

114

Capital expenditures

75

195

270

179

349

528

For the Quarter Ended March 28, 2025

For the Six Months Ended March 28, 2025

Transportation

Industrial

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,314

$

1,829

$

4,143

$

4,557

$

3,422

$

7,979

Less:

Cost of sales

1,512

1,172

2,684

2,957

2,203

5,160

Selling, general, and administrative expenses

213

241

454

429

452

881

Research, development, and engineering expenses

111

92

203

215

176

391

Other segment items(1)

33

21

54

65

44

109

Operating income

$

445

$

303

$

748

$

891

$

547

$

1,438

Depreciation

$

98

$

53

$

151

$

193

$

105

$

298

Amortization

17

24

41

34

46

80

Capital expenditures

120

110

230

248

187

435

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

Segment assets and a reconciliation of segment assets to total assets were as follows:

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions

$

6,037

$

5,975

Industrial Solutions

 

4,885

 

4,439

Total segment assets(1)

 

10,922

 

10,414

Other current assets

 

1,792

 

1,864

Other noncurrent assets

 

12,965

 

12,803

Total assets

$

25,679

$

25,081

(1)Segment assets are composed of accounts receivable, inventories, and net property, plant, and equipment.
v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Pay vs Performance Disclosure        
Net Income (Loss) $ 855 $ 13 $ 1,605 $ 541
v3.26.1
Insider Trading Arrangements
3 Months Ended
Mar. 27, 2026
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Aaron K. Stucki  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
In the quarter ended March 27, 2026, Aaron Stucki, President, Transportation Solutions, adopted a plan for the sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Mr. Stucki’s plan was adopted on February 4, 2026 and expires on December 31, 2026, and provides for the potential (i) exercise of stock options and associated sale representing up to 27,500 ordinary shares, with such sale to occur no earlier than May 6, 2026, (ii) sale of up to 3,000 ordinary shares, with such sale to occur no earlier than May 6, 2026, (iii) sale of up to 1,000 ordinary shares, with such sale to occur no earlier than June 1, 2026, (iv) sale of up to 1,000 ordinary shares, with such sale to occur no earlier than July 1, 2026, (v) sale of up to 1,000 ordinary shares, with such sale to occur no earlier than August 1, 2026, (vi) sale of up to 1,000 ordinary shares, with such sale to occur no earlier than October 1, 2026, (vii) sale of up to 1,000 ordinary shares, with such sale to occur no earlier than November 1, 2026, and (viii) sale of up to 1,000 ordinary shares, with such sale to occur no earlier than December 1, 2026.
Name Aaron Stucki
Title President, Transportation Solutions
Rule 10b5-1 Arrangement Adopted true
Adoption Date Feb. 04, 2026
Expiration Date Dec. 31, 2026
First Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 27,500
Second Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 3,000
Third Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 1,000
Fourth Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 1,000
Fifth Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 1,000
Sixth Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 1,000
Seventh Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 1,000
Eighth Trading Scenario Arrangement | Aaron K. Stucki  
Trading Arrangements, by Individual  
Aggregate Available 1,000
v3.26.1
Restructuring and Other Charges, Net (Tables)
6 Months Ended
Mar. 27, 2026
Restructuring and Other Charges, Net  
Schedule of net restructuring and other charges

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Restructuring charges, net

$

3

$

44

$

13

$

87

Costs related to change in place of incorporation

1

11

Other charges (credits), net

 

7

 

 

7

 

(3)

Restructuring and other charges, net

$

10

$

45

$

20

$

95

Net restructuring charges by segment

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions

$

1

$

33

$

5

$

59

Industrial Solutions

 

2

 

11

 

8

 

28

Restructuring charges, net

$

3

$

44

$

13

$

87

Summary of activity in restructuring reserves

Balance at

Balance at

  ​

September 26,

Changes in

Cash

Non-Cash

Currency

March 27,

  ​ ​ ​

2025

  ​ ​ ​

Charges

  ​ ​ ​

Estimate

  ​ ​ ​

Payments

  ​ ​ ​

Items

  ​ ​ ​

Translation

  ​ ​ ​

2026

  ​ ​ ​

(in millions)

Fiscal 2026 Actions:

Employee severance

$

$

3

$

$

$

$

$

3

Facility and other exit costs

1

(1)

Property, plant, and equipment

2

(2)

Total

6

(1)

(2)

3

Fiscal 2025 Actions:

Employee severance

75

(3)

(21)

(1)

50

Total

75

(3)

(21)

(1)

50

Pre-Fiscal 2025 Actions:

Employee severance

98

8

2

(28)

(1)

79

Facility and other exit costs

4

(3)

1

Total

102

8

2

(31)

(1)

80

Total Activity

$

177

$

14

$

(1)

$

(53)

$

(2)

$

(2)

$

133

Restructuring reserves included on Consolidated Balance Sheets

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Accrued and other current liabilities

$

108

$

163

Other liabilities

 

25

 

14

Restructuring reserves

$

133

$

177

v3.26.1
Inventories (Tables)
6 Months Ended
Mar. 27, 2026
Inventories  
Schedule of inventories

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Raw materials

$

464

$

420

Work in progress

 

1,151

 

1,078

Finished goods

 

1,380

 

1,201

Inventories

$

2,995

$

2,699

v3.26.1
Goodwill (Tables)
6 Months Ended
Mar. 27, 2026
Goodwill.  
Changes in the carrying amount of goodwill by segment

  ​ ​ ​

Transportation

  ​ ​ ​

Industrial

  ​ ​ ​

  ​ ​ ​

Solutions

Solutions

Total

(in millions)

September 26, 2025(1)

$

1,609

$

5,517

$

7,126

Acquisition

308

308

Purchase price adjustments

21

21

Currency translation

 

(4)

 

(14)

 

(18)

March 27, 2026(1)

$

1,605

$

5,832

$

7,437

(1)At March 27, 2026 and September 26, 2025, accumulated impairment losses for the Transportation Solutions and Industrial Solutions segments were $3,091 million and $1,158 million, respectively.
v3.26.1
Intangible Assets, Net (Tables)
6 Months Ended
Mar. 27, 2026
Intangible Assets, Net  
Schedule of finite-lived intangible assets

March 27, 2026

September 26, 2025

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Amount

Amortization

Amount

Amount

Amortization

Amount

  ​ ​ ​

(in millions)

Customer relationships

$

3,013

$

(1,193)

$

1,820

$

3,033

$

(1,118)

$

1,915

Intellectual property

725

(415)

310

727

(430)

297

Other

 

24

 

(9)

 

15

 

23

 

(8)

 

15

Total

$

3,762

$

(1,617)

$

2,145

$

3,783

$

(1,556)

$

2,227

Schedule of finite-lived intangible assets, future amortization expense

At March 27, 2026, the aggregate amortization expense on intangible assets is expected to be as follows:

  ​ ​ ​

(in millions)

  ​

Remainder of fiscal 2026

$

114

Fiscal 2027

212

Fiscal 2028

 

175

Fiscal 2029

 

170

Fiscal 2030

 

159

Fiscal 2031

 

159

Thereafter

 

1,156

Total

$

2,145

v3.26.1
Leases (Tables)
6 Months Ended
Mar. 27, 2026
Leases  
Schedule of components of lease cost

For the

For the

Quarters Ended

  ​ ​ ​

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

Operating lease cost

$

39

$

35

$

78

$

69

Variable lease cost

14

14

26

29

Total lease cost

$

53

$

49

$

104

$

98

Schedule of Cash Flow information, including significant non-cash transactions, related to leases

For the

Six Months Ended

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

Cash paid for amounts included in the measurement of lease liabilities:

Payments for operating leases(1)

$

78

$

70

Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities

117

77

(1)These payments are included in cash flows from operating activities, primarily in changes in accrued and other current liabilities.
v3.26.1
Financial Instruments (Tables)
6 Months Ended
Mar. 27, 2026
Net investment hedges  
Financial Instruments  
Schedule of impacts of hedging program

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Foreign currency exchange gains (losses) on intercompany loans and external borrowings(1)

$

82

$

(103)

$

55

$

39

Gains (losses) on cross-currency swap contracts designated as hedges of net investment(1)

 

84

 

(164)

 

112

 

178

(1)Recorded as currency translation, a component of accumulated other comprehensive income (loss), and offset by changes attributable to the translation of the net investment.
Cross-currency swap contracts | Net investment hedges  
Financial Instruments  
Summary of fair value of derivative instruments

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

26

$

11

Other assets

 

79

 

23

Accrued and other current liabilities

89

97

Other liabilities

117

193

Commodity swap contracts | Cash flow hedges  
Financial Instruments  
Summary of fair value of derivative instruments

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

109

$

73

Other assets

 

5

 

7

Accrued and other current liabilities

12

Other liabilities

7

Schedule of impacts of hedging program

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Gains (losses) recorded in other comprehensive income (loss)

$

(10)

$

98

$

134

  ​ ​ ​

$

52

Gains reclassified from accumulated other comprehensive income (loss) into cost of sales

73

8

102

22

v3.26.1
Retirement Plans (Tables)
6 Months Ended
Mar. 27, 2026
Retirement Plans  
Net periodic pension benefit cost (credit)

Non-U.S. Plans

U.S. Plans

For the

For the

Quarters Ended

Quarters Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Operating expense:

Service cost

$

7

$

8

$

2

$

2

Other (income) expense:

Interest cost

 

17

 

15

 

8

 

8

Expected returns on plan assets

 

(15)

 

(15)

 

(12)

 

(11)

Amortization of net actuarial loss

 

2

 

2

 

1

 

1

Amortization of prior service credit

 

(1)

 

(1)

 

 

Net periodic pension benefit cost (credit)

$

10

$

9

$

(1)

$

Non-U.S. Plans

U.S. Plans

For the

For the

Six Months Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Operating expense:

Service cost

$

15

$

16

$

3

$

4

Other (income) expense:

Interest cost

 

34

 

31

 

17

 

16

Expected returns on plan assets

 

(30)

 

(30)

 

(24)

 

(22)

Amortization of net actuarial loss

 

3

 

4

 

2

 

2

Amortization of prior service credit

 

(2)

 

(2)

 

 

Net periodic pension benefit cost (credit)

$

20

$

19

$

(2)

$

v3.26.1
Earnings Per Share (Tables)
6 Months Ended
Mar. 27, 2026
Weighted-average number of shares outstanding:  
Schedule of weighted-average shares outstanding, basic and diluted

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Basic

293

298

294

299

Dilutive impact of share-based compensation arrangements

2

2

2

2

Diluted

295

300

296

301

Schedule of antidilutive securities excluded from computation of earnings per share

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Antidilutive share options

 

1

1

v3.26.1
Shareholders' Equity (Tables)
6 Months Ended
Mar. 27, 2026
Shareholders' Equity  
Schedule of cash dividends to shareholders

For the

For the

 

Quarters Ended

Six Months Ended

 

  ​ ​ ​

March 27,

  ​ ​ ​

March 28,

  ​ ​ ​

March 27,

  ​ ​ ​

March 28,

 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Dividends paid per ordinary share

$

0.71

$

0.65

$

1.42

$

1.30

Schedule of ordinary shares repurchased

For the

Six Months Ended

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Number of ordinary shares repurchased

 

4

 

4

Repurchase value

 

$

818

 

$

615

v3.26.1
Share Plans (Tables)
6 Months Ended
Mar. 27, 2026
Share Plans  
Share-based compensation expense

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Share-based compensation expense

 

$

42

 

$

34

$

92

 

$

69

Summary of share-based award activity

During the quarter ended December 26, 2025, we granted the following share-based awards as part of our annual incentive plan grant:

Grant-Date

  ​ ​ ​

Shares

  ​ ​ ​

Fair Value

  ​ ​ ​

(in millions)

Share options

0.3

$

67.29

Restricted share awards

0.3

 

236.28

Performance share awards

0.1

236.28

Weighted-average assumptions

The assumptions we used in the Black-Scholes-Merton option pricing model for the options granted as part of our annual incentive plan grant were as follows:

Expected share price volatility

  ​ ​ ​

 

27

%

  ​ ​ ​

Risk-free interest rate

 

3.9

%

Expected annual dividend per share

$

2.84

Expected life of options (in years)

 

5.5

v3.26.1
Segment and Geographic Data (Tables)
6 Months Ended
Mar. 27, 2026
Segment and Geographic Data  
Schedule of net sales by segment

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions:

Automotive

$

1,762

$

1,735

$

3,647

$

3,457

Commercial transportation

 

433

 

357

 

803

 

669

Sensors

 

227

 

222

 

439

 

431

Total Transportation Solutions

2,422

2,314

4,889

4,557

Industrial Solutions:

Digital data networks

 

714

 

482

 

1,421

 

895

Automation and connected living

579

512

1,128

991

Aerospace, defense, and marine

408

374

789

708

Energy

 

445

 

279

 

851

 

495

Medical

176

182

335

333

Total Industrial Solutions

2,322

1,829

4,524

3,422

Total

$

4,744

$

4,143

$

9,413

$

7,979

(1)Intersegment sales were not material.
Net sales by segment and geographic region

For the

For the

Quarters Ended

Six Months Ended

March 27,

March 28,

March 27,

March 28,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Asia–Pacific:

Transportation Solutions

$

1,017

$

997

$

2,262

$

2,094

Industrial Solutions

 

734

 

545

 

1,495

 

1,051

Total Asia–Pacific

 

1,751

 

1,542

 

3,757

 

3,145

Europe/Middle East/Africa (“EMEA”):

Transportation Solutions

919

819

1,714

1,539

Industrial Solutions

 

692

 

594

 

1,337

 

1,103

Total EMEA

 

1,611

 

1,413

 

3,051

 

2,642

Americas:

Transportation Solutions

486

498

913

924

Industrial Solutions

 

896

 

690

 

1,692

 

1,268

Total Americas

 

1,382

 

1,188

 

2,605

 

2,192

Total

$

4,744

$

4,143

$

9,413

$

7,979

(1)Net sales to external customers are attributed to individual countries based on the legal entity that records the sale.
Schedule of operating results and other data by reportable segment

For the Quarter Ended March 27, 2026

For the Six Months Ended March 27, 2026

Transportation

Industrial

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,422

$

2,322

$

4,744

$

4,889

$

4,524

$

9,413

Less:

Cost of sales

1,550

1,449

2,999

3,126

2,803

5,929

Selling, general, and administrative expenses

247

289

536

516

558

1,074

Research, development, and engineering expenses

121

116

237

238

224

462

Other segment items(1)

1

17

18

5

26

31

Operating income

$

503

$

451

$

954

$

1,004

$

913

$

1,917

Depreciation

$

106

$

80

$

186

$

231

$

157

$

388

Amortization

18

39

57

36

78

114

Capital expenditures

75

195

270

179

349

528

For the Quarter Ended March 28, 2025

For the Six Months Ended March 28, 2025

Transportation

Industrial

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,314

$

1,829

$

4,143

$

4,557

$

3,422

$

7,979

Less:

Cost of sales

1,512

1,172

2,684

2,957

2,203

5,160

Selling, general, and administrative expenses

213

241

454

429

452

881

Research, development, and engineering expenses

111

92

203

215

176

391

Other segment items(1)

33

21

54

65

44

109

Operating income

$

445

$

303

$

748

$

891

$

547

$

1,438

Depreciation

$

98

$

53

$

151

$

193

$

105

$

298

Amortization

17

24

41

34

46

80

Capital expenditures

120

110

230

248

187

435

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

March 27,

September 26,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions

$

6,037

$

5,975

Industrial Solutions

 

4,885

 

4,439

Total segment assets(1)

 

10,922

 

10,414

Other current assets

 

1,792

 

1,864

Other noncurrent assets

 

12,965

 

12,803

Total assets

$

25,679

$

25,081

(1)Segment assets are composed of accounts receivable, inventories, and net property, plant, and equipment.
v3.26.1
Restructuring and Other Charges, Net - Restructuring and Other Charges (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Restructuring and other charges, net        
Restructuring charges, net $ 3 $ 44 $ 13 $ 87
Costs related to change in place of incorporation   1   11
Other charges (credits), net 7   7 (3)
Restructuring and other charges, net 10 45 20 95
Transportation Solutions        
Restructuring and other charges, net        
Restructuring charges, net 1 33 5 59
Industrial Solutions        
Restructuring and other charges, net        
Restructuring charges, net $ 2 $ 11 $ 8 $ 28
v3.26.1
Restructuring and Other Charges, Net - Restructuring Reserve Activity (Details)
$ in Millions
6 Months Ended
Mar. 27, 2026
USD ($)
Restructuring reserve  
Restructuring reserve at the beginning of the period $ 177
Charges 14
Changes in Estimate (1)
Cash Payments (53)
Non-Cash Items (2)
Currency Translation (2)
Restructuring reserve at the end of the period 133
Fiscal 2026 Actions  
Restructuring reserve  
Charges 6
Cash Payments (1)
Non-Cash Items (2)
Restructuring reserve at the end of the period 3
Fiscal 2026 Actions | Employee severance  
Restructuring reserve  
Charges 3
Restructuring reserve at the end of the period 3
Fiscal 2026 Actions | Facility and other exit costs  
Restructuring reserve  
Charges 1
Cash Payments (1)
Fiscal 2026 Actions | Property, plant, and equipment  
Restructuring reserve  
Charges 2
Non-Cash Items (2)
Fiscal 2025 Actions  
Restructuring reserve  
Restructuring reserve at the beginning of the period 75
Changes in Estimate (3)
Cash Payments (21)
Currency Translation (1)
Restructuring reserve at the end of the period 50
Fiscal 2025 Actions | Employee severance  
Restructuring reserve  
Restructuring reserve at the beginning of the period 75
Changes in Estimate (3)
Cash Payments (21)
Currency Translation (1)
Restructuring reserve at the end of the period 50
Pre-Fiscal 2025 Actions  
Restructuring reserve  
Restructuring reserve at the beginning of the period 102
Charges 8
Changes in Estimate 2
Cash Payments (31)
Currency Translation (1)
Restructuring reserve at the end of the period 80
Pre-Fiscal 2025 Actions | Employee severance  
Restructuring reserve  
Restructuring reserve at the beginning of the period 98
Charges 8
Changes in Estimate 2
Cash Payments (28)
Currency Translation (1)
Restructuring reserve at the end of the period 79
Pre-Fiscal 2025 Actions | Facility and other exit costs  
Restructuring reserve  
Restructuring reserve at the beginning of the period 4
Cash Payments (3)
Restructuring reserve at the end of the period $ 1
v3.26.1
Restructuring and Other Charges, Net - Actions (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Restructuring and other charges, net        
Charges Incurred $ 3 $ 44 $ 13 $ 87
Fiscal 2026 Actions        
Restructuring and other charges, net        
Charges Incurred     6  
Fiscal 2025 Actions        
Restructuring and other charges, net        
Charges Incurred     (3) 77
Restructuring Charges        
Remaining Expected Charges $ 11   11  
Pre-Fiscal 2025 Actions        
Restructuring and other charges, net        
Charges Incurred     $ 10 $ 10
v3.26.1
Restructuring and Other Charges, Net - Restructuring Reserve Balances (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Sep. 26, 2025
Restructuring reserves included on the Consolidated Balance Sheets    
Accrued and other current liabilities $ 108 $ 163
Other liabilities 25 14
Restructuring reserves $ 133 $ 177
v3.26.1
Acquisitions - Narrative (Details)
$ in Millions
6 Months Ended
Mar. 27, 2026
USD ($)
item
Mar. 28, 2025
USD ($)
item
Acquisitions    
Net cash paid $ 200 $ 321
Fiscal 2025 Acquisitions    
Acquisitions    
Number of Businesses Acquired | item   2
Net cash paid   $ 321
Fiscal 2026 Acquisitions    
Acquisitions    
Number of Businesses Acquired | item 1  
Net cash paid $ 200  
Estimated earn-out provisions amount $ 150  
v3.26.1
Inventories (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Sep. 26, 2025
Inventories    
Raw materials $ 464 $ 420
Work in progress 1,151 1,078
Finished goods 1,380 1,201
Inventories $ 2,995 $ 2,699
v3.26.1
Goodwill (Details) - USD ($)
$ in Millions
6 Months Ended
Mar. 27, 2026
Sep. 26, 2025
Goodwill:    
Goodwill, beginning balance $ 7,126  
Acquisition 308  
Purchase price adjustments 21  
Currency translation (18)  
Goodwill, ending balance 7,437  
Transportation Solutions    
Goodwill:    
Goodwill, beginning balance 1,609  
Currency translation (4)  
Goodwill, ending balance 1,605  
Accumulated impairment losses 3,091 $ 3,091
Industrial Solutions    
Goodwill:    
Goodwill, beginning balance 5,517  
Acquisition 308  
Purchase price adjustments 21  
Currency translation (14)  
Goodwill, ending balance 5,832  
Accumulated impairment losses $ 1,158 $ 1,158
v3.26.1
Intangible Assets, Net (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Sep. 26, 2025
Finite-Lived Intangible Assets          
Gross Carrying Amount $ 3,762   $ 3,762   $ 3,783
Accumulated Amortization (1,617)   (1,617)   (1,556)
Net Carrying Amount 2,145   2,145   2,227
Finite-lived intangible assets, amortization expense 57 $ 41 114 $ 80  
Aggregate amortization expense on intangible assets          
Remainder of fiscal 2026 114   114    
Fiscal 2027 212   212    
Fiscal 2028 175   175    
Fiscal 2029 170   170    
Fiscal 2030 159   159    
Fiscal 2031 159   159    
Thereafter 1,156   1,156    
Net Carrying Amount 2,145   2,145   2,227
Customer relationships          
Finite-Lived Intangible Assets          
Gross Carrying Amount 3,013   3,013   3,033
Accumulated Amortization (1,193)   (1,193)   (1,118)
Net Carrying Amount 1,820   1,820   1,915
Aggregate amortization expense on intangible assets          
Net Carrying Amount 1,820   1,820   1,915
Intellectual property          
Finite-Lived Intangible Assets          
Gross Carrying Amount 725   725   727
Accumulated Amortization (415)   (415)   (430)
Net Carrying Amount 310   310   297
Aggregate amortization expense on intangible assets          
Net Carrying Amount 310   310   297
Other          
Finite-Lived Intangible Assets          
Gross Carrying Amount 24   24   23
Accumulated Amortization (9)   (9)   (8)
Net Carrying Amount 15   15   15
Aggregate amortization expense on intangible assets          
Net Carrying Amount $ 15   $ 15   $ 15
v3.26.1
Debt - Narrative (Details) - USD ($)
$ in Millions
1 Months Ended 3 Months Ended 6 Months Ended
Feb. 28, 2026
Mar. 27, 2026
Dec. 26, 2025
Mar. 27, 2026
Mar. 28, 2025
Sep. 26, 2025
Debt            
Repayment of debt       $ 851 $ 579  
Fair value of debt   $ 5,568   $ 5,568   $ 5,725
Commercial paper            
Debt            
Weighted-average interest rate (as a percent)   4.00%   4.00%    
Commercial Paper   $ 100   $ 100   0
4.50% senior notes due 2031            
Debt            
Debt instrument principal amount $ 200 $ 650   $ 650   $ 450
Debt instrument, interest rate (as a percent) 4.50% 4.50%   4.50%   4.50%
4.875% senior notes due 2036            
Debt            
Debt instrument principal amount $ 550          
Debt instrument, interest rate (as a percent) 4.875%          
Replaced Five-Year Credit Facility            
Debt            
Revolving credit facility term     5 years      
Maximum borrowing capacity     $ 1,500      
Borrowings outstanding under credit agreement           $ 0
4.50% senior notes due 2026            
Debt            
Repayment of debt   $ 500        
Debt instrument, interest rate (as a percent)   4.50%   4.50%    
3.70% senior notes due 2026            
Debt            
Repayment of debt   $ 350        
Debt instrument, interest rate (as a percent)   3.70%   3.70%    
Five-Year unsecured senior revolving credit facility            
Debt            
Revolving credit facility term 5 years          
Maximum borrowing capacity $ 3,000          
Incremental borrowing capacity $ 1,000          
Borrowings outstanding under credit agreement   $ 0   $ 0    
Five-Year unsecured senior revolving credit facility | Minimum            
Debt            
Annual facility fee, basis points (as a percent) 0.05%          
Five-Year unsecured senior revolving credit facility | Maximum            
Debt            
Annual facility fee, basis points (as a percent) 0.125%          
Five-Year unsecured senior revolving credit facility | Term SOFR            
Debt            
Debt instrument description of variable rate basis Term SOFR, plus margin based on debt rating          
Five-Year unsecured senior revolving credit facility | Bank of America Base Rate            
Debt            
Debt instrument description of variable rate basis Bank of America base rate, plus margin based on debt rating          
Five-Year unsecured senior revolving credit facility | Federal funds effective rate            
Debt            
Debt instrument description of variable rate basis federal funds effective rate, plus margin based on debt rating          
Debt instrument basis spread on variable rate (as a percent) 0.50%          
Five-Year unsecured senior revolving credit facility | One-Month SOFR            
Debt            
Debt instrument description of variable rate basis Term SOFR for a one-month interest period, plus margin based on debt rating          
Debt instrument basis spread on variable rate (as a percent) 1.00%          
Five-Year unsecured senior revolving credit facility | Alternative base rate            
Debt            
Debt instrument basis spread on variable rate (as a percent) 1.00%          
Five-Year unsecured senior revolving credit facility | Euro Interbank Offered Rate            
Debt            
Debt instrument description of variable rate basis Euro Interbank Offered Rate, plus margin based on debt rating          
Five-Year unsecured senior revolving credit facility | Sterling Overnight Index Average Reference Rate            
Debt            
Debt instrument description of variable rate basis Sterling Overnight Index Average Reference Rate, plus margin based on debt rating          
Five-Year unsecured senior revolving credit facility | Tokyo Interbank Offered Rate            
Debt            
Debt instrument description of variable rate basis Tokyo Interbank Offered Rate, plus margin based on debt rating          
v3.26.1
Leases - Components of Lease Cost (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Leases        
Operating lease cost $ 39 $ 35 $ 78 $ 69
Variable lease cost 14 14 26 29
Total lease cost $ 53 $ 49 $ 104 $ 98
v3.26.1
Leases - Cash Flow Information (Details) - USD ($)
$ in Millions
6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Leases    
Payments for operating leases $ 78 $ 70
Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities $ 117 $ 77
v3.26.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Sep. 26, 2025
Loss Contingencies    
Accrual environmental loss contingency, estimate of probable loss $ 27  
Supplier Finance Program, Obligation    
Supply Chain Finance Program 134 $ 161
Minimum    
Loss Contingencies    
Accrual environmental loss contingency, estimate of probable loss 20  
Maximum    
Loss Contingencies    
Accrual environmental loss contingency, estimate of probable loss 53  
Outstanding letters of credit, letters of guarantee and surety bonds    
Guarantees    
Guarantor obligations, maximum exposure 251  
U.S. Customs and Border Protection    
Guarantees    
Loss contingency, accrual carrying value, current $ 27  
v3.26.1
Financial Instruments (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Sep. 26, 2025
Cash flow hedges | Commodity swap contracts          
Financial Instruments          
Notional amount $ 644   $ 644   $ 569
Gains (losses) recorded in other comprehensive income (loss) (10) $ 98 134 $ 52  
Gains reclassified from accumulated other comprehensive income (loss) into cost of sales 73 8 102 22  
Net investment hedges | Intercompany loans and external borrowings          
Financial Instruments          
Notional amount of non-derivative instruments 3,370       4,212
Foreign currency exchange gains (losses) on intercompany loans and external borrowings 82 (103) 55 39  
Net investment hedges | Cross-currency swap contracts          
Financial Instruments          
Notional amount $ 5,712   $ 5,712   5,671
Interest paid in foreign currency, fixed interest rate 0.00%   0.00%    
Interest received in U.S. dollars, weighted-average fixed interest rate 1.90%   1.90%    
Gains (losses) on cross-currency swap contracts designated as hedges of net investment $ 84 $ (164) $ 112 $ 178  
Prepaid expenses and other current assets | Cash flow hedges | Commodity swap contracts          
Financial Instruments          
Fair Value of Asset Positions 109   109   73
Prepaid expenses and other current assets | Net investment hedges | Cross-currency swap contracts          
Financial Instruments          
Fair Value of Asset Positions 26   26   11
Other assets | Cash flow hedges | Commodity swap contracts          
Financial Instruments          
Fair Value of Asset Positions 5   5   7
Other assets | Net investment hedges | Cross-currency swap contracts          
Financial Instruments          
Fair Value of Asset Positions 79   79   23
Accrued and other current liabilities | Cash flow hedges | Commodity swap contracts          
Financial Instruments          
Fair Value of Liability Positions 12   12    
Accrued and other current liabilities | Net investment hedges | Cross-currency swap contracts          
Financial Instruments          
Fair Value of Liability Positions 89   89   97
Other liabilities | Cash flow hedges | Commodity swap contracts          
Financial Instruments          
Fair Value of Liability Positions 7   7    
Other liabilities | Net investment hedges | Cross-currency swap contracts          
Financial Instruments          
Fair Value of Liability Positions $ 117   $ 117   $ 193
v3.26.1
Retirement Plans (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Non-U.S. Plans        
Net Periodic Postretirement Benefit Cost        
Service cost $ 7 $ 8 $ 15 $ 16
Interest cost $ 17 $ 15 $ 34 $ 31
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Expected returns on plan assets $ (15) $ (15) $ (30) $ (30)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of net actuarial loss $ 2 $ 2 $ 3 $ 4
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of prior service credit $ (1) $ (1) $ (2) $ (2)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Net periodic pension benefit cost (credit) $ 10 $ 9 $ 20 $ 19
Defined benefit plan, contributions by employer     23  
U.S. Plans        
Net Periodic Postretirement Benefit Cost        
Service cost 2 2 3 4
Interest cost $ 8 $ 8 $ 17 $ 16
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Expected returns on plan assets $ (12) $ (11) $ (24) $ (22)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of net actuarial loss $ 1 $ 1 $ 2 $ 2
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Net periodic pension benefit cost (credit) $ (1)   $ (2)  
Defined benefit plan, contributions by employer     $ 8  
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Sep. 26, 2025
Income Taxes          
Income tax expense $ 87 $ 742 $ 297 $ 920  
Income tax benefit related to settlement of prior period tax matters 114   114    
Income tax expense related to net increase in valuation allowance for deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary   $ 574   574  
Income tax expense relating to revaluation of deferred tax assets resulting from corporate tax rate decrease in non-U.S. jurisdiction       $ 13  
Accrued interest and penalties related to uncertain tax positions $ 41   41   $ 89
Income tax benefit related to interest and penalties     $ 48    
v3.26.1
Earnings Per Share (Details) - shares
shares in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Weighted-average number of shares outstanding:        
Basic (in shares) 293 298 294 299
Dilutive impact of share-based compensation arrangements (in shares) 2 2 2 2
Diluted (in shares) 295 300 296 301
Employee Stock Option        
Antidilutive shares excluded from computation of earnings per share        
Antidilutive share options   1   1
v3.26.1
Shareholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
1 Months Ended 3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Shareholder's Equity          
Shares cancelled 8.3        
Dividends paid per ordinary share   $ 0.71 $ 0.65 $ 1.42 $ 1.3
Dividend declared (in currency per share)   $ 0.78   $ 1.49  
Share repurchase program, increase in authorized amount   $ 3,000      
Number of ordinary shares repurchased       4.0 4.0
Repurchase value   412 $ 305 $ 818 $ 615
Amount available for repurchase, at end of period $ 3,600 $ 3,600   $ 3,600  
2026 Q2 Dividends          
Shareholder's Equity          
Dividends Payable, Date Declared   Mar. 11, 2026      
Dividend declared (in currency per share)   $ 0.78      
Dividends Payable, Date to be Paid   Jun. 12, 2026      
Dividends Payable, Date of Record   May 22, 2026      
Ordinary Shares Held in Treasury          
Shareholder's Equity          
Number of ordinary shares repurchased   2.0 2.0 4.0 4.0
Repurchase value   $ 412 $ 305 $ 818 $ 615
v3.26.1
Share Plans (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Dec. 26, 2025
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Share Based Compensation Arrangements:          
Share-based compensation expense $ 42   $ 34 $ 92 $ 69
Shares available for issuance 17.0     17.0  
Share Based Compensation Expenses Not Recognized          
Share-based compensation, share-based awards, total compensation expense not yet recognized $ 193     $ 193  
Share-based compensation, share-based awards, total compensation expense not yet recognized, expected period for recognition 1 year 6 months        
Employee Stock Option          
Share Based Compensation Arrangements:          
Share options granted   0.3      
Options granted, grant-date fair value (in dollars per share)   $ 67.29      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected share price volatility (as a percent)   27.00%      
Risk-free interest rate (as a percent)   3.90%      
Expected annual dividend per share   $ 2.84      
Expected life of options (in years)   5 years 6 months      
Restricted share awards          
Share Based Compensation Arrangements:          
Shares granted   0.3      
Shares granted, grant-date fair value (in dollars per share)   $ 236.28      
Performance share awards          
Share Based Compensation Arrangements:          
Shares granted   0.1      
Shares granted, grant-date fair value (in dollars per share)   $ 236.28      
v3.26.1
Segment and Geographic Data - Net Sales by Segment and Industry End Market (Details)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
USD ($)
Mar. 28, 2025
USD ($)
Mar. 27, 2026
USD ($)
segment
Mar. 28, 2025
USD ($)
Segment and Geographic Data        
Number of reportable segments | segment     2  
Net sales $ 4,744 $ 4,143 $ 9,413 $ 7,979
Transportation Solutions        
Segment and Geographic Data        
Net sales 2,422 2,314 4,889 4,557
Transportation Solutions | Automotive        
Segment and Geographic Data        
Net sales 1,762 1,735 3,647 3,457
Transportation Solutions | Commercial transportation        
Segment and Geographic Data        
Net sales 433 357 803 669
Transportation Solutions | Sensors        
Segment and Geographic Data        
Net sales 227 222 439 431
Industrial Solutions        
Segment and Geographic Data        
Net sales 2,322 1,829 4,524 3,422
Industrial Solutions | Digital data networks        
Segment and Geographic Data        
Net sales 714 482 1,421 895
Industrial Solutions | Automation and connected living        
Segment and Geographic Data        
Net sales 579 512 1,128 991
Industrial Solutions | Aerospace, defense, and marine        
Segment and Geographic Data        
Net sales 408 374 789 708
Industrial Solutions | Energy        
Segment and Geographic Data        
Net sales 445 279 851 495
Industrial Solutions | Medical        
Segment and Geographic Data        
Net sales $ 176 $ 182 $ 335 $ 333
v3.26.1
Segment and Geographic Data - Net Sales by Geographic Region and Segment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Segment and Geographic Data        
Net sales $ 4,744 $ 4,143 $ 9,413 $ 7,979
Transportation Solutions        
Segment and Geographic Data        
Net sales 2,422 2,314 4,889 4,557
Industrial Solutions        
Segment and Geographic Data        
Net sales 2,322 1,829 4,524 3,422
Total Asia-Pacific        
Segment and Geographic Data        
Net sales 1,751 1,542 3,757 3,145
Total Asia-Pacific | Transportation Solutions        
Segment and Geographic Data        
Net sales 1,017 997 2,262 2,094
Total Asia-Pacific | Industrial Solutions        
Segment and Geographic Data        
Net sales 734 545 1,495 1,051
Total Europe/Middle East/Africa        
Segment and Geographic Data        
Net sales 1,611 1,413 3,051 2,642
Total Europe/Middle East/Africa | Transportation Solutions        
Segment and Geographic Data        
Net sales 919 819 1,714 1,539
Total Europe/Middle East/Africa | Industrial Solutions        
Segment and Geographic Data        
Net sales 692 594 1,337 1,103
Total Americas        
Segment and Geographic Data        
Net sales 1,382 1,188 2,605 2,192
Total Americas | Transportation Solutions        
Segment and Geographic Data        
Net sales 486 498 913 924
Total Americas | Industrial Solutions        
Segment and Geographic Data        
Net sales $ 896 $ 690 $ 1,692 $ 1,268
v3.26.1
Segment and Geographic Data - Schedule of operating results and other data by reportable segment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Mar. 27, 2026
Mar. 28, 2025
Segment and Geographic Data        
Net sales $ 4,744 $ 4,143 $ 9,413 $ 7,979
Cost of sales 2,999 2,684 5,929 5,160
Selling, general, and administrative expenses 536 454 1,074 881
Research, development, and engineering expenses 237 203 462 391
Other segment items 18 54 31 109
Operating income 954 748 1,917 1,438
Depreciation 186 151 388 298
Amortization 57 41 114 80
Capital Expenditures 270 230 528 435
Transportation Solutions        
Segment and Geographic Data        
Net sales 2,422 2,314 4,889 4,557
Cost of sales 1,550 1,512 3,126 2,957
Selling, general, and administrative expenses 247 213 516 429
Research, development, and engineering expenses 121 111 238 215
Other segment items 1 33 5 65
Operating income 503 445 1,004 891
Depreciation 106 98 231 193
Amortization 18 17 36 34
Capital Expenditures 75 120 179 248
Industrial Solutions        
Segment and Geographic Data        
Net sales 2,322 1,829 4,524 3,422
Cost of sales 1,449 1,172 2,803 2,203
Selling, general, and administrative expenses 289 241 558 452
Research, development, and engineering expenses 116 92 224 176
Other segment items 17 21 26 44
Operating income 451 303 913 547
Depreciation 80 53 157 105
Amortization 39 24 78 46
Capital Expenditures $ 195 $ 110 $ 349 $ 187
v3.26.1
Segment and Geographic Data - Assets (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Sep. 26, 2025
Segment and Geographic Data    
Assets $ 25,679 $ 25,081
Total segment assets    
Segment and Geographic Data    
Assets 10,922 10,414
Reconciling items    
Segment and Geographic Data    
Other current assets 1,792 1,864
Other noncurrent assets 12,965 12,803
Transportation Solutions | Total segment assets    
Segment and Geographic Data    
Assets 6,037 5,975
Industrial Solutions | Total segment assets    
Segment and Geographic Data    
Assets $ 4,885 $ 4,439