TE CONNECTIVITY PLC, 10-Q filed on 1/23/2026
Quarterly Report
v3.25.4
Document and Entity Information - shares
3 Months Ended
Dec. 26, 2025
Jan. 16, 2026
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 26, 2025  
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   293,434,273
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Ordinary Shares    
Title of 12(b) Security Ordinary Shares, Par Value $0.01  
Trading Symbol TEL  
Security Exchange Name NYSE  
2.50% euro-denominated senior notes due 2028    
Title of 12(b) Security 2.50% Senior Notes due 2028*  
Trading Symbol TEL/28  
Security Exchange Name NYSE  
0.00% Senior Notes due 2029    
Title of 12(b) Security 0.00% Senior Notes due 2029*  
Trading Symbol TEL/29  
Security Exchange Name NYSE  
3.25% euro-denominated senior notes due 2033    
Title of 12(b) Security 3.25% Senior Notes due 2033*  
Trading Symbol TEL/33  
Security Exchange Name NYSE  
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS    
Net sales $ 4,669 $ 3,836
Cost of sales 2,930 2,476
Gross margin 1,739 1,360
Selling, general, and administrative expenses 538 427
Research, development, and engineering expenses 225 188
Acquisition and integration costs 3 5
Restructuring and other charges, net 10 50
Operating income 963 690
Interest income 25 23
Interest expense (30) (6)
Other income (expense), net 3 (1)
Income from continuing operations before income taxes 961 706
Income tax expense (210) (178)
Income from continuing operations 751 528
Loss from discontinued operations, net of income taxes (1)  
Net income $ 750 $ 528
Basic earnings per share:    
Income from continuing operations (in dollars per share) $ 2.55 $ 1.77
Net income (in dollars per share) 2.55 1.77
Diluted earnings per share:    
Income from continuing operations (in dollars per share) 2.53 1.75
Net income (in dollars per share) $ 2.53 $ 1.75
Weighted-average number of shares outstanding:    
Basic (in shares) 294 299
Diluted (in shares) 297 301
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME    
Net income $ 750 $ 528
Other comprehensive income (loss):    
Currency translation 93 (166)
Adjustments to unrecognized pension and postretirement benefit costs, net of income taxes 1 (9)
Gains (losses) on cash flow hedges, net of income taxes 104 (56)
Other comprehensive income (loss) 198 (231)
Comprehensive income 948 297
Less: comprehensive (income) loss attributable to noncontrolling interests (1) 9
Comprehensive income attributable to TE Connectivity plc $ 947 $ 306
v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 26, 2025
Sep. 26, 2025
Current assets:    
Cash and cash equivalents $ 1,251 $ 1,255
Accounts receivable, net of allowance for doubtful accounts of $48 and $44, respectively 3,469 3,403
Inventories 2,951 2,699
Prepaid expenses and other current assets 697 609
Total current assets 8,368 7,966
Property, plant, and equipment, net 4,395 4,312
Goodwill 7,162 7,126
Intangible assets, net 2,177 2,227
Deferred income taxes 2,429 2,507
Other assets 1,021 943
Total assets 25,552 25,081
Current liabilities:    
Short-term debt 852 852
Accounts payable 2,149 2,021
Accrued and other current liabilities 2,068 2,247
Total current liabilities 5,069 5,120
Long-term debt 4,856 4,842
Long-term pension and postretirement liabilities 766 767
Deferred income taxes 198 198
Income taxes 441 414
Other liabilities 1,086 1,010
Total liabilities 12,416 12,351
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests 149 145
Shareholders' equity:    
Preferred shares, $1.00 par value, 2 shares authorized, none outstanding
Ordinary shares 3 3
Accumulated earnings 14,543 13,932
Ordinary shares held in treasury, at cost, 10,086,721 and 8,330,931 shares, respectively (1,762) (1,356)
Accumulated other comprehensive income 203 6
Total shareholders' equity 12,987 12,585
Total liabilities, redeemable noncontrolling interests, and shareholders' equity 25,552 25,081
Ordinary class A    
Shareholders' equity:    
Ordinary shares
v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)
$ in Millions
Dec. 26, 2025
USD ($)
$ / shares
shares
Dec. 26, 2025
€ / shares
Sep. 26, 2025
USD ($)
$ / shares
shares
Sep. 26, 2025
€ / shares
Accounts receivable, allowance for doubtful accounts (in dollars) | $ $ 48   $ 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 303,796,785   302,889,075  
Ordinary shares and common shares held in treasury 10,086,721   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  
v3.25.4
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    
Cancellation of treasury shares   $ 2,322   (2,322)    
Cancellation of treasury shares (in shares) (17,000,000) 17,000,000        
Net income       528   528
Other comprehensive income (loss)         (222) (222)
Share-based compensation expense     $ 35     35
Exercise of share options     34     34
Exercise of share options (in shares) 1,000,000          
Restricted share award vestings and other activity     (69) 58   (11)
Restricted share award vestings and other activity (in shares) 1,000,000          
Repurchase of ordinary shares   $ (310)       $ (310)
Repurchase of ordinary shares (in shares)   (2,000,000)       (2,000,000)
Balance at Dec. 27, 2024 $ 3 $ (310)   12,933 (217) $ 12,409
Ordinary Shares Held in Treasury (in shares) at Dec. 27, 2024   (2,000,000)        
Balance (in shares) at Dec. 27, 2024 301,000,000          
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       750   $ 750
Other comprehensive income (loss)         197 197
Share-based compensation expense     50     50
Dividends       (208)   (208)
Exercise of share options     44     44
Restricted share award vestings and other activity     $ (94) 69   (25)
Restricted share award vestings and other activity (in shares) 1,000,000          
Repurchase of ordinary shares   $ (406)       $ (406)
Repurchase of ordinary shares (in shares)   (2,000,000)       (2,000,000)
Balance at Dec. 26, 2025 $ 3 $ (1,762)   $ 14,543 $ 203 $ 12,987
Ordinary Shares Held in Treasury (in shares) at Dec. 26, 2025   (10,000,000)       (10,086,721)
Balance (in shares) at Dec. 26, 2025 304,000,000          
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical)
3 Months Ended
Dec. 26, 2025
$ / shares
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY  
Dividend declared (in currency per share) $ 0.71
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Cash flows from operating activities:    
Net income $ 750 $ 528
Loss from discontinued operations, net of income taxes 1  
Income from continuing operations 751 528
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 259 186
Deferred income taxes 77 98
Non-cash lease cost 39 34
Provision for losses on accounts receivable and inventories 43 41
Share-based compensation expense 50 35
Other 4 12
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:    
Accounts receivable, net (79) 146
Inventories (301) (118)
Prepaid expenses and other current assets 20 68
Accounts payable 139 150
Accrued and other current liabilities (217) (295)
Income taxes 45 30
Other 35 (37)
Net cash provided by operating activities 865 878
Cash flows from investing activities:    
Capital expenditures (258) (205)
Proceeds from sale of property, plant, and equipment 1 1
Acquisition of businesses, net of cash acquired   (325)
Other 3 (8)
Net cash used in investing activities (254) (537)
Cash flows from financing activities:    
Net increase in commercial paper   90
Proceeds from exercise of share options 44 34
Repurchase of ordinary shares (405) (303)
Payment of ordinary share dividends to shareholders (209) (189)
Other (46) (27)
Net cash used in financing activities (616) (395)
Effect of currency translation on cash 1 (11)
Net decrease in cash, cash equivalents, and restricted cash (4) (65)
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 $ 1,251 $ 1,254
v3.25.4
Basis of Presentation
3 Months Ended
Dec. 26, 2025
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.

v3.25.4
Restructuring and Other Charges, Net
3 Months Ended
Dec. 26, 2025
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

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Restructuring charges, net

$

10

$

43

Costs related to change in place of incorporation

10

Other credits, net

 

 

(3)

Restructuring and other charges, net

$

10

$

50

Restructuring Charges, Net

Net restructuring charges by segment were as follows:

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Transportation Solutions

$

4

$

26

Industrial Solutions

 

6

 

17

Restructuring charges, net

$

10

$

43

Activity in our restructuring reserves was as follows:

Balance at

Balance at

  ​

September 26,

Changes in

Cash

Non-Cash

December 26,

  ​ ​ ​

2025

  ​ ​ ​

Charges

  ​ ​ ​

Estimate

  ​ ​ ​

Payments

  ​ ​ ​

Items

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Fiscal 2026 Actions:

Employee severance

$

$

3

$

$

$

$

3

Property, plant, and equipment

1

(1)

Total

4

(1)

3

Fiscal 2025 Actions:

Employee severance

75

(3)

(10)

62

Total

75

(3)

(10)

62

Pre-Fiscal 2025 Actions:

Employee severance

98

7

2

(16)

91

Facility and other exit costs

4

(2)

2

Total

102

7

2

(18)

93

Total Activity

$

177

$

11

$

(1)

$

(28)

$

(1)

$

158

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 quarter ended December 26, 2025, we recorded restructuring charges of $4 million in connection with this program. We expect to complete all restructuring actions commenced during the quarter ended December 26, 2025 by the end of fiscal 2028 and to incur additional charges of approximately $6 million related primarily to facility exit costs in the Industrial Solutions segment.

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 quarters ended December 26, 2025 and December 27, 2024, we recorded restructuring credits of $3 million and charges of $30 million, respectively. We expect to complete all restructuring actions commenced during fiscal 2025 by the end of fiscal 2032 and to incur additional charges of approximately $12 million related primarily to facility exit costs in the Industrial Solutions segment.

Pre-Fiscal 2025 Actions

During the quarters ended December 26, 2025 and December 27, 2024, we recorded net restructuring charges of $9 million and $13 million, respectively, 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:

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Accrued and other current liabilities

$

124

$

163

Other liabilities

 

34

 

14

Restructuring reserves

$

158

$

177

v3.25.4
Acquisitions
3 Months Ended
Dec. 26, 2025
Acquisitions  
Acquisitions

3. Acquisitions

During the quarter ended December 27, 2024, we acquired two businesses for a combined cash purchase price of $325 million, net of cash acquired. The acquired businesses have been reported as part of our Industrial Solutions segment from the date of acquisition.

v3.25.4
Inventories
3 Months Ended
Dec. 26, 2025
Inventories  
Inventories

4. Inventories

Inventories consisted of the following:

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Raw materials

$

469

$

420

Work in progress

 

1,181

 

1,078

Finished goods

 

1,301

 

1,201

Inventories

$

2,951

$

2,699

v3.25.4
Goodwill
3 Months Ended
Dec. 26, 2025
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

Purchase price adjustments

7

7

Currency translation

 

6

 

23

 

29

December 26, 2025(1)

$

1,615

$

5,547

$

7,162

(1)At December 26, 2025 and September 26, 2025, accumulated impairment losses for the Transportation Solutions and Industrial Solutions segments were $3,091 million and $1,158 million, respectively.
v3.25.4
Intangible Assets, Net
3 Months Ended
Dec. 26, 2025
Intangible Assets, Net  
Intangible Assets, Net

6. Intangible Assets, Net

Net intangible assets consisted of the following:

December 26, 2025

September 26, 2025

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Amount

Amortization

Amount

Amount

Amortization

Amount

  ​ ​ ​

(in millions)

Customer relationships

$

3,046

$

(1,168)

$

1,878

$

3,033

$

(1,118)

$

1,915

Intellectual property

725

(441)

284

727

(430)

297

Other

 

23

 

(8)

 

15

 

23

 

(8)

 

15

Total

$

3,794

$

(1,617)

$

2,177

$

3,783

$

(1,556)

$

2,227

Intangible asset amortization expense was $57 million and $39 million for the quarters ended December 26, 2025 and December 27, 2024, respectively.

At December 26, 2025, the aggregate amortization expense on intangible assets is expected to be as follows:

  ​ ​ ​

(in millions)

  ​

Remainder of fiscal 2026

$

171

Fiscal 2027

210

Fiscal 2028

 

173

Fiscal 2029

 

167

Fiscal 2030

 

157

Fiscal 2031

 

157

Thereafter

 

1,142

Total

$

2,177

v3.25.4
Debt
3 Months Ended
Dec. 26, 2025
Debt  
Debt

7. Debt

Tyco Electronics Group S.A. (“TEGSA”), our wholly-owned subsidiary, had no commercial paper outstanding at December 26, 2025 or September 26, 2025.

Payment obligations under TEGSA’s senior notes, commercial paper, and five-year unsecured senior revolving 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 $5,738 million and $5,725 million at December 26, 2025 and September 26, 2025, respectively.

v3.25.4
Leases
3 Months Ended
Dec. 26, 2025
Leases  
Leases

8. Leases

The components of lease cost were as follows:

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

Operating lease cost

$

39

$

34

Variable lease cost

12

15

Total lease cost

$

51

$

49

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

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

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

Payments for operating leases(1)

$

40

$

35

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

54

30

(1)These payments are included in cash flows from operating activities, primarily in changes in accrued and other current liabilities.
v3.25.4
Commitments and Contingencies
3 Months Ended
Dec. 26, 2025
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 December 26, 2025, we concluded that we would incur investigation and remediation costs at these sites in the reasonably possible range of $18 million to $44 million, and we accrued $23 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 December 26, 2025, we had outstanding letters of credit, letters of guarantee, and surety bonds of $245 million.

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 $135 million and $161 million at December 26, 2025 and September 26, 2025, respectively.

v3.25.4
Financial Instruments
3 Months Ended
Dec. 26, 2025
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 $4,620 million and $4,212 million at December 26, 2025 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 $5,686 million and $5,671 million at December 26, 2025 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 2030, 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:

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

19

$

11

Other assets

 

62

 

23

Accrued and other current liabilities

106

97

Other liabilities

188

193

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

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

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

$

(27)

$

142

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

 

28

 

342

(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 $611 million and $569 million at December 26, 2025 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:

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

168

$

73

Other assets

 

19

 

7

The impacts of our commodity swap contracts were as follows:

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

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

$

144

$

(46)

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

29

14

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.

v3.25.4
Retirement Plans
3 Months Ended
Dec. 26, 2025
Retirement Plans  
Retirement Plans

11. Retirement Plans

The net periodic pension benefit cost 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

December 26,

December 27,

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Operating expense:

Service cost

$

8

$

8

$

1

$

2

Other (income) expense:

Interest cost

 

17

 

16

 

9

 

8

Expected returns on plan assets

 

(15)

 

(15)

 

(12)

 

(11)

Amortization of net actuarial loss

 

1

 

2

 

1

 

1

Amortization of prior service credit

 

(1)

 

(1)

 

 

Net periodic pension benefit cost

$

10

$

10

$

(1)

$

During the quarter ended December 26, 2025, we contributed $11 million and $4 million to our non-U.S. and U.S. pension plans, respectively.

v3.25.4
Income Taxes
3 Months Ended
Dec. 26, 2025
Income Taxes  
Income Taxes

12. Income Taxes

We recorded income tax expense of $210 million and $178 million for the quarters ended December 26, 2025 and December 27, 2024, respectively. The income tax expense for quarter ended December 27, 2024 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.

v3.25.4
Earnings Per Share
3 Months Ended
Dec. 26, 2025
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

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Basic

294

299

Dilutive impact of share-based compensation arrangements

3

2

Diluted

297

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

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Antidilutive share options

 

1

v3.25.4
Shareholders' Equity
3 Months Ended
Dec. 26, 2025
Shareholders' Equity  
Shareholders' Equity

14. Shareholders’ Equity

Dividends

We paid cash dividends to shareholders as follows:

For the

 

Quarters Ended

 

  ​ ​ ​

December 26,

  ​ ​ ​

December 27,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

Dividends paid per ordinary share

$

0.71

$

0.65

In December 2025, our Board of Directors declared a regular quarterly cash dividend of $0.71 per ordinary share, payable on March 13, 2026, to shareholders of record on February 20, 2026.

Share Repurchase Program

Ordinary shares repurchased under the share repurchase program were as follows:

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Number of ordinary shares repurchased

 

2

 

2

Repurchase value

 

$

406

 

$

310

At December 26, 2025, we had $983 million of availability remaining under our share repurchase authorization.

v3.25.4
Share Plans
3 Months Ended
Dec. 26, 2025
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

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Share-based compensation expense

 

$

50

 

$

35

As of December 26, 2025, there was $225 million of unrecognized compensation expense related to share-based awards, which is expected to be recognized over a weighted-average period of 1.8 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 December 26, 2025, 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

v3.25.4
Segment and Geographic Data
3 Months Ended
Dec. 26, 2025
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

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Transportation Solutions:

Automotive

$

1,885

$

1,722

Commercial transportation

 

370

 

312

Sensors

 

212

 

209

Total Transportation Solutions

2,467

2,243

Industrial Solutions:

Digital data networks

 

707

 

413

Automation and connected living

549

479

Aerospace, defense, and marine

381

334

Energy

 

406

 

216

Medical

159

151

Total Industrial Solutions

2,202

1,593

Total

$

4,669

$

3,836

(1)Intersegment sales were not material.

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

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Asia–Pacific:

Transportation Solutions

$

1,245

$

1,097

Industrial Solutions

 

761

 

506

Total Asia–Pacific

 

2,006

 

1,603

Europe/Middle East/Africa (“EMEA”):

Transportation Solutions

795

720

Industrial Solutions

 

645

 

509

Total EMEA

 

1,440

 

1,229

Americas:

Transportation Solutions

427

426

Industrial Solutions

 

796

 

578

Total Americas

 

1,223

 

1,004

Total

$

4,669

$

3,836

(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 December 26, 2025

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,467

$

2,202

$

4,669

Less:

Cost of sales

1,576

1,354

2,930

Selling, general, and administrative expenses

269

269

538

Research, development, and engineering expenses

117

108

225

Other segment items(1)

4

9

13

Operating income

$

501

$

462

$

963

Depreciation

$

125

$

77

$

202

Amortization

18

39

57

Capital expenditures

104

154

258

For the Quarter Ended December 27, 2024

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,243

$

1,593

$

3,836

Less:

Cost of sales

1,445

1,031

2,476

Selling, general, and administrative expenses

216

211

427

Research, development, and engineering expenses

104

84

188

Other segment items(1)

32

23

55

Operating income

$

446

$

244

$

690

Depreciation

$

95

$

52

$

147

Amortization

17

22

39

Capital expenditures

128

77

205

(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:

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions

$

6,171

$

5,975

Industrial Solutions

 

4,644

 

4,439

Total segment assets(1)

 

10,815

 

10,414

Other current assets

 

1,948

 

1,864

Other noncurrent assets

 

12,789

 

12,803

Total assets

$

25,552

$

25,081

(1)Segment assets are composed of accounts receivable, inventories, and net property, plant, and equipment.
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Pay vs Performance Disclosure    
Net Income (Loss) $ 750 $ 528
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 26, 2025
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
Shad Kroeger  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
In the quarter ended December 26, 2025, Shad Kroeger, President, Industrial Solutions, adopted a plan for the sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Mr. Kroeger’s plan was adopted November 14, 2025 and expires June 30, 2026, and provides for the potential exercise and related sale of (i) stock options representing up to 34,400 ordinary shares, with such sale to occur no earlier than February 13, 2026, (ii) stock options representing up to 9,400 ordinary shares, with such sale to occur no earlier than March 2, 2026, (iii) stock options representing up to 9,400 ordinary shares, with such sale to occur no earlier than April 1, 2026, (iv) stock options representing up to 9,400 ordinary shares, with such sale to occur no earlier than May 1, 2026, and (v) stock options representing up to 9,400 ordinary shares, with such sale to occur no earlier than June 1, 2026.
Name Shad Kroeger
Title President, Industrial Solutions
Rule 10b5-1 Arrangement Adopted true
Adoption Date Nov. 14, 2025
Expiration Date Jun. 30, 2026
First Trading Scenario Arrangement | Shad Kroeger  
Trading Arrangements, by Individual  
Aggregate Available 34,400
Second Trading Scenario Arrangement | Shad Kroeger  
Trading Arrangements, by Individual  
Aggregate Available 9,400
Third Trading Scenario Arrangement | Shad Kroeger  
Trading Arrangements, by Individual  
Aggregate Available 9,400
Fourth Trading Scenario Arrangement | Shad Kroeger  
Trading Arrangements, by Individual  
Aggregate Available 9,400
Fifth Trading Scenario Arrangement | Shad Kroeger  
Trading Arrangements, by Individual  
Aggregate Available 9,400
v3.25.4
Restructuring and Other Charges, Net (Tables)
3 Months Ended
Dec. 26, 2025
Restructuring and Other Charges, Net  
Schedule of net restructuring and other charges

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Restructuring charges, net

$

10

$

43

Costs related to change in place of incorporation

10

Other credits, net

 

 

(3)

Restructuring and other charges, net

$

10

$

50

Net restructuring charges by segment

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Transportation Solutions

$

4

$

26

Industrial Solutions

 

6

 

17

Restructuring charges, net

$

10

$

43

Summary of activity in restructuring reserves

Balance at

Balance at

  ​

September 26,

Changes in

Cash

Non-Cash

December 26,

  ​ ​ ​

2025

  ​ ​ ​

Charges

  ​ ​ ​

Estimate

  ​ ​ ​

Payments

  ​ ​ ​

Items

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Fiscal 2026 Actions:

Employee severance

$

$

3

$

$

$

$

3

Property, plant, and equipment

1

(1)

Total

4

(1)

3

Fiscal 2025 Actions:

Employee severance

75

(3)

(10)

62

Total

75

(3)

(10)

62

Pre-Fiscal 2025 Actions:

Employee severance

98

7

2

(16)

91

Facility and other exit costs

4

(2)

2

Total

102

7

2

(18)

93

Total Activity

$

177

$

11

$

(1)

$

(28)

$

(1)

$

158

Restructuring reserves included on Consolidated Balance Sheets

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Accrued and other current liabilities

$

124

$

163

Other liabilities

 

34

 

14

Restructuring reserves

$

158

$

177

v3.25.4
Inventories (Tables)
3 Months Ended
Dec. 26, 2025
Inventories  
Schedule of inventories

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Raw materials

$

469

$

420

Work in progress

 

1,181

 

1,078

Finished goods

 

1,301

 

1,201

Inventories

$

2,951

$

2,699

v3.25.4
Goodwill (Tables)
3 Months Ended
Dec. 26, 2025
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

Purchase price adjustments

7

7

Currency translation

 

6

 

23

 

29

December 26, 2025(1)

$

1,615

$

5,547

$

7,162

(1)At December 26, 2025 and September 26, 2025, accumulated impairment losses for the Transportation Solutions and Industrial Solutions segments were $3,091 million and $1,158 million, respectively.
v3.25.4
Intangible Assets, Net (Tables)
3 Months Ended
Dec. 26, 2025
Intangible Assets, Net  
Schedule of finite-lived intangible assets

December 26, 2025

September 26, 2025

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

  ​ ​ ​

Gross

  ​ ​ ​

  ​ ​ ​

Net

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Amount

Amortization

Amount

Amount

Amortization

Amount

  ​ ​ ​

(in millions)

Customer relationships

$

3,046

$

(1,168)

$

1,878

$

3,033

$

(1,118)

$

1,915

Intellectual property

725

(441)

284

727

(430)

297

Other

 

23

 

(8)

 

15

 

23

 

(8)

 

15

Total

$

3,794

$

(1,617)

$

2,177

$

3,783

$

(1,556)

$

2,227

Schedule of finite-lived intangible assets, future amortization expense

At December 26, 2025, the aggregate amortization expense on intangible assets is expected to be as follows:

  ​ ​ ​

(in millions)

  ​

Remainder of fiscal 2026

$

171

Fiscal 2027

210

Fiscal 2028

 

173

Fiscal 2029

 

167

Fiscal 2030

 

157

Fiscal 2031

 

157

Thereafter

 

1,142

Total

$

2,177

v3.25.4
Leases (Tables)
3 Months Ended
Dec. 26, 2025
Leases  
Schedule of components of lease cost

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

Operating lease cost

$

39

$

34

Variable lease cost

12

15

Total lease cost

$

51

$

49

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

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

  ​ ​ ​

(in millions)

  ​ ​ ​

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

Payments for operating leases(1)

$

40

$

35

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

54

30

(1)These payments are included in cash flows from operating activities, primarily in changes in accrued and other current liabilities.
v3.25.4
Financial Instruments (Tables)
3 Months Ended
Dec. 26, 2025
Net investment hedges  
Financial Instruments  
Schedule of impacts of hedging program

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

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

$

(27)

$

142

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

 

28

 

342

(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

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

19

$

11

Other assets

 

62

 

23

Accrued and other current liabilities

106

97

Other liabilities

188

193

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

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Prepaid expenses and other current assets

$

168

$

73

Other assets

 

19

 

7

Schedule of impacts of hedging program

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

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

$

144

$

(46)

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

29

14

v3.25.4
Retirement Plans (Tables)
3 Months Ended
Dec. 26, 2025
Retirement Plans  
Net periodic pension benefit cost

Non-U.S. Plans

U.S. Plans

For the

For the

Quarters Ended

Quarters Ended

December 26,

December 27,

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Operating expense:

Service cost

$

8

$

8

$

1

$

2

Other (income) expense:

Interest cost

 

17

 

16

 

9

 

8

Expected returns on plan assets

 

(15)

 

(15)

 

(12)

 

(11)

Amortization of net actuarial loss

 

1

 

2

 

1

 

1

Amortization of prior service credit

 

(1)

 

(1)

 

 

Net periodic pension benefit cost

$

10

$

10

$

(1)

$

v3.25.4
Earnings Per Share (Tables)
3 Months Ended
Dec. 26, 2025
Weighted-average number of shares outstanding:  
Schedule of weighted-average shares outstanding, basic and diluted

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Basic

294

299

Dilutive impact of share-based compensation arrangements

3

2

Diluted

297

301

Schedule of antidilutive securities excluded from computation of earnings per share

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Antidilutive share options

 

1

v3.25.4
Shareholders' Equity (Tables)
3 Months Ended
Dec. 26, 2025
Shareholders' Equity  
Schedule of cash dividends to shareholders

For the

 

Quarters Ended

 

  ​ ​ ​

December 26,

  ​ ​ ​

December 27,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

Dividends paid per ordinary share

$

0.71

$

0.65

Schedule of ordinary shares repurchased

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Number of ordinary shares repurchased

 

2

 

2

Repurchase value

 

$

406

 

$

310

v3.25.4
Share Plans (Tables)
3 Months Ended
Dec. 26, 2025
Share Plans  
Share-based compensation expense

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Share-based compensation expense

 

$

50

 

$

35

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

v3.25.4
Segment and Geographic Data (Tables)
3 Months Ended
Dec. 26, 2025
Segment and Geographic Data  
Schedule of net sales by segment

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Transportation Solutions:

Automotive

$

1,885

$

1,722

Commercial transportation

 

370

 

312

Sensors

 

212

 

209

Total Transportation Solutions

2,467

2,243

Industrial Solutions:

Digital data networks

 

707

 

413

Automation and connected living

549

479

Aerospace, defense, and marine

381

334

Energy

 

406

 

216

Medical

159

151

Total Industrial Solutions

2,202

1,593

Total

$

4,669

$

3,836

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

For the

Quarters Ended

December 26,

December 27,

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

(in millions)

Asia–Pacific:

Transportation Solutions

$

1,245

$

1,097

Industrial Solutions

 

761

 

506

Total Asia–Pacific

 

2,006

 

1,603

Europe/Middle East/Africa (“EMEA”):

Transportation Solutions

795

720

Industrial Solutions

 

645

 

509

Total EMEA

 

1,440

 

1,229

Americas:

Transportation Solutions

427

426

Industrial Solutions

 

796

 

578

Total Americas

 

1,223

 

1,004

Total

$

4,669

$

3,836

(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 December 26, 2025

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,467

$

2,202

$

4,669

Less:

Cost of sales

1,576

1,354

2,930

Selling, general, and administrative expenses

269

269

538

Research, development, and engineering expenses

117

108

225

Other segment items(1)

4

9

13

Operating income

$

501

$

462

$

963

Depreciation

$

125

$

77

$

202

Amortization

18

39

57

Capital expenditures

104

154

258

For the Quarter Ended December 27, 2024

Transportation

Industrial

Solutions

  ​

Solutions

  ​

Total

  ​

(in millions)

Net sales

$

2,243

$

1,593

$

3,836

Less:

Cost of sales

1,445

1,031

2,476

Selling, general, and administrative expenses

216

211

427

Research, development, and engineering expenses

104

84

188

Other segment items(1)

32

23

55

Operating income

$

446

$

244

$

690

Depreciation

$

95

$

52

$

147

Amortization

17

22

39

Capital expenditures

128

77

205

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

December 26,

September 26,

  ​ ​ ​

2025

  ​ ​ ​

2025

  ​ ​ ​

(in millions)

Transportation Solutions

$

6,171

$

5,975

Industrial Solutions

 

4,644

 

4,439

Total segment assets(1)

 

10,815

 

10,414

Other current assets

 

1,948

 

1,864

Other noncurrent assets

 

12,789

 

12,803

Total assets

$

25,552

$

25,081

(1)Segment assets are composed of accounts receivable, inventories, and net property, plant, and equipment.
v3.25.4
Restructuring and Other Charges, Net - Restructuring and Other Charges (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Restructuring and other charges, net    
Restructuring charges, net $ 10 $ 43
Costs related to change in place of incorporation   10
Other credits, net   (3)
Restructuring and other charges, net 10 50
Transportation Solutions    
Restructuring and other charges, net    
Restructuring charges, net 4 26
Industrial Solutions    
Restructuring and other charges, net    
Restructuring charges, net $ 6 $ 17
v3.25.4
Restructuring and Other Charges, Net - Restructuring Reserve Activity (Details)
$ in Millions
3 Months Ended
Dec. 26, 2025
USD ($)
Restructuring reserve  
Restructuring reserve at the beginning of the period $ 177
Charges 11
Changes in Estimate (1)
Cash Payments (28)
Non-Cash Items (1)
Restructuring reserve at the end of the period 158
Fiscal 2026 Actions  
Restructuring reserve  
Charges 4
Non-Cash Items (1)
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 | Property, plant, and equipment  
Restructuring reserve  
Charges 1
Non-Cash Items (1)
Fiscal 2025 Actions  
Restructuring reserve  
Restructuring reserve at the beginning of the period 75
Changes in Estimate (3)
Cash Payments (10)
Restructuring reserve at the end of the period 62
Fiscal 2025 Actions | Employee severance  
Restructuring reserve  
Restructuring reserve at the beginning of the period 75
Changes in Estimate (3)
Cash Payments (10)
Restructuring reserve at the end of the period 62
Pre-Fiscal 2025 Actions  
Restructuring reserve  
Restructuring reserve at the beginning of the period 102
Charges 7
Changes in Estimate 2
Cash Payments (18)
Restructuring reserve at the end of the period 93
Pre-Fiscal 2025 Actions | Employee severance  
Restructuring reserve  
Restructuring reserve at the beginning of the period 98
Charges 7
Changes in Estimate 2
Cash Payments (16)
Restructuring reserve at the end of the period 91
Pre-Fiscal 2025 Actions | Facility and other exit costs  
Restructuring reserve  
Restructuring reserve at the beginning of the period 4
Cash Payments (2)
Restructuring reserve at the end of the period $ 2
v3.25.4
Restructuring and Other Charges, Net - Actions (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Restructuring and other charges, net    
Charges Incurred $ 10 $ 43
Fiscal 2026 Actions    
Restructuring and other charges, net    
Charges Incurred 4  
Restructuring Charges    
Remaining Expected Charges 6  
Fiscal 2025 Actions    
Restructuring and other charges, net    
Charges Incurred (3) 30
Restructuring Charges    
Remaining Expected Charges 12  
Pre-Fiscal 2025 Actions    
Restructuring and other charges, net    
Charges Incurred $ 9 $ 13
v3.25.4
Restructuring and Other Charges, Net - Restructuring Reserve Balances (Details) - USD ($)
$ in Millions
Dec. 26, 2025
Sep. 26, 2025
Restructuring reserves included on the Consolidated Balance Sheets    
Accrued and other current liabilities $ 124 $ 163
Other liabilities 34 14
Restructuring reserves $ 158 $ 177
v3.25.4
Acquisitions - Narrative (Details)
$ in Millions
3 Months Ended
Dec. 27, 2024
USD ($)
item
Acquisitions  
Net cash paid $ 325
Fiscal 2025 Acquisitions  
Acquisitions  
Number of Businesses Acquired | item 2
Net cash paid $ 325
v3.25.4
Inventories (Details) - USD ($)
$ in Millions
Dec. 26, 2025
Sep. 26, 2025
Inventories    
Raw materials $ 469 $ 420
Work in progress 1,181 1,078
Finished goods 1,301 1,201
Inventories $ 2,951 $ 2,699
v3.25.4
Goodwill (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Sep. 26, 2025
Goodwill:    
Goodwill, beginning balance $ 7,126  
Purchase price adjustments 7  
Currency translation 29  
Goodwill, ending balance 7,162  
Transportation Solutions    
Goodwill:    
Goodwill, beginning balance 1,609  
Currency translation 6  
Goodwill, ending balance 1,615  
Accumulated impairment losses 3,091 $ 3,091
Industrial Solutions    
Goodwill:    
Goodwill, beginning balance 5,517  
Purchase price adjustments 7  
Currency translation 23  
Goodwill, ending balance 5,547  
Accumulated impairment losses $ 1,158 $ 1,158
v3.25.4
Intangible Assets, Net (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Sep. 26, 2025
Finite-Lived Intangible Assets      
Gross Carrying Amount $ 3,794   $ 3,783
Accumulated Amortization (1,617)   (1,556)
Net Carrying Amount 2,177   2,227
Finite-lived intangible assets, amortization expense 57 $ 39  
Aggregate amortization expense on intangible assets      
Remainder of fiscal 2026 171    
Fiscal 2027 210    
Fiscal 2028 173    
Fiscal 2029 167    
Fiscal 2030 157    
Fiscal 2031 157    
Thereafter 1,142    
Net Carrying Amount 2,177   2,227
Customer relationships      
Finite-Lived Intangible Assets      
Gross Carrying Amount 3,046   3,033
Accumulated Amortization (1,168)   (1,118)
Net Carrying Amount 1,878   1,915
Aggregate amortization expense on intangible assets      
Net Carrying Amount 1,878   1,915
Intellectual property      
Finite-Lived Intangible Assets      
Gross Carrying Amount 725   727
Accumulated Amortization (441)   (430)
Net Carrying Amount 284   297
Aggregate amortization expense on intangible assets      
Net Carrying Amount 284   297
Other      
Finite-Lived Intangible Assets      
Gross Carrying Amount 23   23
Accumulated Amortization (8)   (8)
Net Carrying Amount 15   15
Aggregate amortization expense on intangible assets      
Net Carrying Amount $ 15   $ 15
v3.25.4
Debt - Narrative (Details) - USD ($)
$ in Millions
Dec. 26, 2025
Sep. 26, 2025
Debt    
Fair value of debt $ 5,738 $ 5,725
Commercial paper    
Debt    
Commercial Paper $ 0 $ 0
v3.25.4
Leases - Components of Lease Cost (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Leases    
Operating lease cost $ 39 $ 34
Variable lease cost 12 15
Total lease cost $ 51 $ 49
v3.25.4
Leases - Cash Flow Information (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Leases    
Payments for operating leases $ 40 $ 35
Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities $ 54 $ 30
v3.25.4
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Dec. 26, 2025
Sep. 26, 2025
Loss Contingencies    
Accrual environmental loss contingency, estimate of probable loss $ 23  
Supplier Finance Program, Obligation    
Supply Chain Finance Program 135 $ 161
Minimum    
Loss Contingencies    
Accrual environmental loss contingency, estimate of probable loss 18  
Maximum    
Loss Contingencies    
Accrual environmental loss contingency, estimate of probable loss 44  
Outstanding letters of credit, letters of guarantee and surety bonds    
Guarantees    
Guarantor obligations, maximum exposure 245  
U.S. Customs and Border Protection    
Guarantees    
Loss contingency, accrual carrying value, current $ 27  
v3.25.4
Financial Instruments (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Sep. 26, 2025
Cash flow hedges | Commodity swap contracts      
Financial Instruments      
Notional amount $ 611   $ 569
Gains (losses) recorded in other comprehensive income (loss) 144 $ (46)  
Gains reclassified from accumulated other comprehensive income (loss) into cost of sales 29 14  
Net investment hedges | Intercompany loans and external borrowings      
Financial Instruments      
Notional amount of non-derivative instruments 4,620   4,212
Foreign currency exchange gains (losses) on intercompany loans and external borrowings (27) 142  
Net investment hedges | Cross-currency swap contracts      
Financial Instruments      
Notional amount $ 5,686   5,671
Interest paid in foreign currency, fixed interest rate 0.00%    
Interest received in U.S. dollars, weighted-average fixed interest rate 1.90%    
Gains on cross-currency swap contracts designated as hedges of net investment $ 28 $ 342  
Prepaid expenses and other current assets | Cash flow hedges | Commodity swap contracts      
Financial Instruments      
Fair Value of Asset Positions 168   73
Prepaid expenses and other current assets | Net investment hedges | Cross-currency swap contracts      
Financial Instruments      
Fair Value of Asset Positions 19   11
Other assets | Cash flow hedges | Commodity swap contracts      
Financial Instruments      
Fair Value of Asset Positions 19   7
Other assets | Net investment hedges | Cross-currency swap contracts      
Financial Instruments      
Fair Value of Asset Positions 62   23
Accrued and other current liabilities | Net investment hedges | Cross-currency swap contracts      
Financial Instruments      
Fair Value of Liability Positions 106   97
Other liabilities | Net investment hedges | Cross-currency swap contracts      
Financial Instruments      
Fair Value of Liability Positions $ 188   $ 193
v3.25.4
Retirement Plans (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Non-U.S. Plans    
Net Periodic Postretirement Benefit Cost    
Service cost $ 8 $ 8
Interest cost $ 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)
Expected returns on plan assets $ (15) $ (15)
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)
Amortization of net actuarial loss $ 1 $ 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)
Amortization of prior service credit $ (1) $ (1)
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)
Net periodic pension benefit cost $ 10 $ 10
Defined benefit plan, contributions by employer 11  
U.S. Plans    
Net Periodic Postretirement Benefit Cost    
Service cost 1 2
Interest cost $ 9 $ 8
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)
Expected returns on plan assets $ (12) $ (11)
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)
Amortization of net actuarial loss $ 1 $ 1
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)
Net periodic pension benefit cost $ (1)  
Defined benefit plan, contributions by employer $ 4  
v3.25.4
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Income Taxes    
Income tax expense (benefit) $ 210 $ 178
Income tax expense relating to revaluation of deferred tax assets resulting from corporate tax rate decrease in non-U.S. jurisdiction   $ 13
v3.25.4
Earnings Per Share (Details) - shares
shares in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Weighted-average number of shares outstanding:    
Basic (in shares) 294 299
Dilutive impact of share-based compensation arrangements (in shares) 3 2
Diluted (in shares) 297 301
Employee Stock Option    
Antidilutive shares excluded from computation of earnings per share    
Antidilutive share options   1
v3.25.4
Shareholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Shareholder's Equity    
Dividends paid per ordinary share $ 0.71 $ 0.65
Dividend declared (in currency per share) $ 0.71  
Number of ordinary shares repurchased 2 2
Repurchase value $ 406 $ 310
Amount available for repurchase, at end of period $ 983  
2026 Q1 Dividends    
Shareholder's Equity    
Dividends Payable, Date Declared Dec. 17, 2025  
Dividend declared (in currency per share) $ 0.71  
Dividends Payable, Date to be Paid Mar. 13, 2026  
Dividends Payable, Date of Record Feb. 20, 2026  
Ordinary Shares Held in Treasury    
Shareholder's Equity    
Number of ordinary shares repurchased 2 2
Repurchase value $ 406 $ 310
v3.25.4
Share Plans (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Share Based Compensation Arrangements:    
Share-based compensation expense $ 50 $ 35
Shares available for issuance 17.0  
Share Based Compensation Expenses Not Recognized    
Share-based compensation, share-based awards, total compensation expense not yet recognized $ 225  
Share-based compensation, share-based awards, total compensation expense not yet recognized, expected period for recognition 1 year 9 months 18 days  
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  
v3.25.4
Segment and Geographic Data - Net Sales by Segment and Industry End Market (Details)
$ in Millions
3 Months Ended
Dec. 26, 2025
USD ($)
segment
Dec. 27, 2024
USD ($)
Segment and Geographic Data    
Number of reportable segments | segment 2  
Net sales $ 4,669 $ 3,836
Transportation Solutions    
Segment and Geographic Data    
Net sales 2,467 2,243
Transportation Solutions | Automotive    
Segment and Geographic Data    
Net sales 1,885 1,722
Transportation Solutions | Commercial transportation    
Segment and Geographic Data    
Net sales 370 312
Transportation Solutions | Sensors    
Segment and Geographic Data    
Net sales 212 209
Industrial Solutions    
Segment and Geographic Data    
Net sales 2,202 1,593
Industrial Solutions | Digital data networks    
Segment and Geographic Data    
Net sales 707 413
Industrial Solutions | Automation and connected living    
Segment and Geographic Data    
Net sales 549 479
Industrial Solutions | Aerospace, defense, and marine    
Segment and Geographic Data    
Net sales 381 334
Industrial Solutions | Energy    
Segment and Geographic Data    
Net sales 406 216
Industrial Solutions | Medical    
Segment and Geographic Data    
Net sales $ 159 $ 151
v3.25.4
Segment and Geographic Data - Net Sales by Geographic Region and Segment (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Segment and Geographic Data    
Net sales $ 4,669 $ 3,836
Transportation Solutions    
Segment and Geographic Data    
Net sales 2,467 2,243
Industrial Solutions    
Segment and Geographic Data    
Net sales 2,202 1,593
Total Asia-Pacific    
Segment and Geographic Data    
Net sales 2,006 1,603
Total Asia-Pacific | Transportation Solutions    
Segment and Geographic Data    
Net sales 1,245 1,097
Total Asia-Pacific | Industrial Solutions    
Segment and Geographic Data    
Net sales 761 506
Total Europe/Middle East/Africa    
Segment and Geographic Data    
Net sales 1,440 1,229
Total Europe/Middle East/Africa | Transportation Solutions    
Segment and Geographic Data    
Net sales 795 720
Total Europe/Middle East/Africa | Industrial Solutions    
Segment and Geographic Data    
Net sales 645 509
Total Americas    
Segment and Geographic Data    
Net sales 1,223 1,004
Total Americas | Transportation Solutions    
Segment and Geographic Data    
Net sales 427 426
Total Americas | Industrial Solutions    
Segment and Geographic Data    
Net sales $ 796 $ 578
v3.25.4
Segment and Geographic Data - Schedule of operating results and other data by reportable segment (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 26, 2025
Dec. 27, 2024
Segment and Geographic Data    
Net sales $ 4,669 $ 3,836
Cost of sales 2,930 2,476
Selling, general, and administrative expenses 538 427
Research, development, and engineering expenses 225 188
Other segment items 13 55
Operating income 963 690
Depreciation 202 147
Amortization 57 39
Capital Expenditures 258 205
Transportation Solutions    
Segment and Geographic Data    
Net sales 2,467 2,243
Cost of sales 1,576 1,445
Selling, general, and administrative expenses 269 216
Research, development, and engineering expenses 117 104
Other segment items 4 32
Operating income 501 446
Depreciation 125 95
Amortization 18 17
Capital Expenditures 104 128
Industrial Solutions    
Segment and Geographic Data    
Net sales 2,202 1,593
Cost of sales 1,354 1,031
Selling, general, and administrative expenses 269 211
Research, development, and engineering expenses 108 84
Other segment items 9 23
Operating income 462 244
Depreciation 77 52
Amortization 39 22
Capital Expenditures $ 154 $ 77
v3.25.4
Segment and Geographic Data - Assets (Details) - USD ($)
$ in Millions
Dec. 26, 2025
Sep. 26, 2025
Segment and Geographic Data    
Assets $ 25,552 $ 25,081
Total segment assets    
Segment and Geographic Data    
Assets 10,815 10,414
Reconciling items    
Segment and Geographic Data    
Other current assets 1,948 1,864
Other noncurrent assets 12,789 12,803
Transportation Solutions | Total segment assets    
Segment and Geographic Data    
Assets 6,171 5,975
Industrial Solutions | Total segment assets    
Segment and Geographic Data    
Assets $ 4,644 $ 4,439