Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Mar. 26, 2021	Apr. 19, 2021
Document and Entity Information
Entity Registrant Name	TE CONNECTIVITY LTD.
Entity Central Index Key	0001385157
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 26, 2021
Document Transition Report	false
Entity File Number	001-33260
Entity Incorporation, State or Country Code	V8
Entity Tax Identification Number	98-0518048
Entity Address, Address Line One	Mühlenstrasse 26
Entity Address, City or Town	Schaffhausen
Entity Address, Country	CH
Entity Address, Postal Zip Code	CH-8200
Country Region	+41
City Area Code	(0)52
Local Phone Number	633 66 61
Title of 12(b) Security	Common Shares, Par Value CHF 0.57
Trading Symbol	TEL
Security Exchange Name	NYSE
Amendment Flag	false
Current Fiscal Year End Date	--09-24
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		330,224,626
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 3,738	$ 3,195	$ 7,260	$ 6,363
Cost of sales	2,528	2,166	4,904	4,304
Gross margin	1,210	1,029	2,356	2,059
Selling, general, and administrative expenses	401	352	762	719
Research, development, and engineering expenses	174	158	336	319
Acquisition and integration costs	6	12	14	19
Restructuring and other charges, net	17	22	184	46
Impairment of goodwill		900		900
Operating income (loss)	612	(415)	1,060	56
Interest income	8	5	11	11
Interest expense	(13)	(11)	(28)	(23)
Other income, net	4	11	3	16
Income (loss) from continuing operations before income taxes	611	(410)	1,046	60
Income tax expense	(106)	(42)	(166)	(489)
Income (loss) from continuing operations	505	(452)	880	(429)
Income (loss) from discontinued operations, net of income taxes	1	(4)	7	(1)
Net income (loss)	$ 506	$ (456)	$ 887	$ (430)
Basic earnings (loss) per share:
Income (loss) from continuing operations (in dollars per share)	$ 1.53	$ (1.35)	$ 2.66	$ (1.28)
Income (loss) from discontinued operations (in dollars per share)		(0.01)	0.02
Net income (loss) (in dollars per share)	1.53	(1.37)	2.68	(1.29)
Diluted earnings (loss) per share:
Income (loss) from continuing operations (in dollars per share)	1.51	(1.35)	2.64	(1.28)
Income (loss) from discontinued operations (in dollars per share)		(0.01)	0.02
Net income (loss) (in dollars per share)	$ 1.51	$ (1.37)	$ 2.66	$ (1.29)
Weighted-average number of shares outstanding:
Basic (in shares)	331	334	331	334
Diluted (in shares)	334	334	333	334

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ 506	$ (456)	$ 887	$ (430)
Other comprehensive income (loss):
Currency translation	21	(114)	132	(64)
Adjustments to unrecognized pension and postretirement benefit costs, net of income taxes	6	8	12	16
Gains (losses) on cash flow hedges, net of income taxes	28	(53)	57	(22)
Other comprehensive income (loss)	55	(159)	201	(70)
Comprehensive income (loss)	561	(615)	1,088	(500)
Less: comprehensive (income) loss attributable to noncontrolling interests	4	2	(2)	2
Comprehensive income (loss) attributable to TE Connectivity Ltd.	$ 565	$ (613)	$ 1,086	$ (498)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 26, 2021	Sep. 25, 2020
Current assets:
Cash and cash equivalents	$ 1,748	$ 945
Accounts receivable, net of allowance for doubtful accounts of $35 and $29, respectively	2,921	2,377
Inventories	2,134	1,950
Prepaid expenses and other current assets	619	512
Total current assets	7,422	5,784
Property, plant, and equipment, net	3,662	3,650
Goodwill	5,342	5,224
Intangible assets, net	1,548	1,593
Deferred income taxes	2,204	2,178
Other assets	789	813
Total assets	20,967	19,242
Current liabilities:
Short-term debt	919	694
Accounts payable	1,793	1,276
Accrued and other current liabilities	2,327	1,720
Total current liabilities	5,039	3,690
Long-term debt	3,602	3,452
Long-term pension and postretirement liabilities	1,299	1,336
Deferred income taxes	140	143
Income taxes	277	252
Other liabilities	827	874
Total liabilities	11,184	9,747
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests	114	112
Shareholders' equity:
Common shares, CHF 0.57 par value, 338,953,381 shares authorized and issued	149	149
Accumulated earnings	10,541	10,348
Treasury shares, at cost, 8,520,155 and 8,295,878 shares, respectively	(775)	(669)
Accumulated other comprehensive loss	(246)	(445)
Total shareholders' equity	9,669	9,383
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$ 20,967	$ 19,242

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Millions	Mar. 26, 2021 USD ($) shares	Mar. 26, 2021 SFr / shares	Sep. 25, 2020 USD ($) shares	Sep. 25, 2020 SFr / shares
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars) \| $	$ 35		$ 29
Common shares, par value (in currency per share) \| SFr / shares		SFr 0.57		SFr 0.57
Common shares, shares authorized	338,953,381		338,953,381
Common shares, shares issued	338,953,381		338,953,381
Treasury shares	8,520,155		8,295,878

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Millions, $ in Millions	Common Shares	Treasury Shares	Contributed Surplus	Accumulated Earnings	Accumulated Other Comprehensive Loss	TE Connectivity Ltd. Shareholders' Equity	Noncontrolling Interests	Total
Balance at at Sep. 27, 2019	$ 154	$ (1,337)		$ 12,256	$ (503)	$ 10,570		$ 10,570
Balance (in shares) at at Sep. 27, 2019	351	(16)
Increase (Decrease) in Equity:
Acquisition							$ 107	107
Net income (loss)				(430)		(430)		(430)
Other comprehensive income (loss)					(68)	(68)	(2)	(70)
Share-based compensation expense			$ 37			37		37
Dividends				(635)		(635)		(635)
Exercise of share options		$ 27				27		27
Restricted share award vestings and other activity		$ 94	(37)	(69)		(12)		(12)
Restricted share award vestings and other activity (in shares)		1
Repurchase of common shares		$ (423)				(423)		$ (423)
Repurchase of common shares (in shares)		(5)						(5)
Balance at at Mar. 27, 2020	$ 154	$ (1,639)		11,122	(571)	9,066	105	$ 9,171
Balance (in shares) at at Mar. 27, 2020	351	(20)
Balance at at Dec. 27, 2019	$ 154	$ (1,389)		12,206	(414)	10,557		10,557
Balance (in shares) at at Dec. 27, 2019	351	(17)
Increase (Decrease) in Equity:
Acquisition							107	107
Net income (loss)				(456)		(456)		(456)
Other comprehensive income (loss)					(157)	(157)	(2)	(159)
Share-based compensation expense			15			15		15
Dividends				(635)		(635)		(635)
Exercise of share options		$ 13				13		13
Restricted share award vestings and other activity		17	(15)	7		9		9
Repurchase of common shares		$ (280)				(280)		(280)
Repurchase of common shares (in shares)		(3)
Balance at at Mar. 27, 2020	$ 154	$ (1,639)		11,122	(571)	9,066	$ 105	9,171
Balance (in shares) at at Mar. 27, 2020	351	(20)
Balance at at Sep. 25, 2020	$ 149	$ (669)		10,348	(445)	9,383		9,383
Balance (in shares) at at Sep. 25, 2020	339	(8)
Increase (Decrease) in Equity:
Net income (loss)				887		887		887
Other comprehensive income (loss)					199	199		199
Share-based compensation expense			49			49		49
Dividends				(661)		(661)		(661)
Exercise of share options		$ 119				119		119
Exercise of share options (in shares)		2
Restricted share award vestings and other activity		$ 84	(49)	(33)		2		2
Repurchase of common shares		$ (309)				(309)		$ (309)
Repurchase of common shares (in shares)		(3)						(3)
Balance at at Mar. 26, 2021	$ 149	$ (775)		10,541	(246)	9,669		$ 9,669
Balance (in shares) at at Mar. 26, 2021	339	(9)
Balance at at Dec. 25, 2020	$ 149	$ (655)		10,672	(305)	9,861		9,861
Balance (in shares) at at Dec. 25, 2020	339	(8)
Increase (Decrease) in Equity:
Net income (loss)				506		506		506
Other comprehensive income (loss)					59	59		59
Share-based compensation expense			30			30		30
Dividends				(661)		(661)		(661)
Exercise of share options		$ 44				44		44
Exercise of share options (in shares)		1
Restricted share award vestings and other activity		$ 18	$ (30)	24		12		12
Repurchase of common shares		$ (182)				(182)		(182)
Repurchase of common shares (in shares)		(2)
Balance at at Mar. 26, 2021	$ 149	$ (775)		$ 10,541	$ (246)	$ 9,669		$ 9,669
Balance (in shares) at at Mar. 26, 2021	339	(9)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020
Cash flows from operating activities:
Net income (loss)	$ 887	$ (430)
(Income) loss from discontinued operations, net of income taxes	(7)	1
Income (loss) from continuing operations	880	(429)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities:
Impairment of goodwill		900
Depreciation and amortization	380	354
Deferred income taxes	(48)	345
Non-cash lease cost	59	52
Provision for losses on accounts receivable and inventories	22	18
Share-based compensation expense	49	37
Other	(20)	11
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net	(567)	(140)
Inventories	(212)	(151)
Prepaid expenses and other current assets	(30)	25
Accounts payable	510	49
Accrued and other current liabilities	125	(180)
Income taxes	34	1
Other	38
Net cash provided by operating activities	1,220	892
Cash flows from investing activities:
Capital expenditures	(284)	(309)
Proceeds from sale of property, plant, and equipment	58	3
Acquisition of businesses, net of cash acquired	(107)	(359)
Other	10	(2)
Net cash used in investing activities	(323)	(667)
Cash flows from financing activities:
Net decrease in commercial paper		(219)
Proceeds from issuance of debt	661	593
Repayment of debt	(280)
Proceeds from exercise of share options	119	27
Repurchase of common shares	(259)	(408)
Payment of common share dividends to shareholders	(318)	(307)
Other	(24)	(31)
Net cash used in financing activities	(101)	(345)
Effect of currency translation on cash	7	(11)
Net increase (decrease) in cash, cash equivalents, and restricted cash	803	(131)
Cash, cash equivalents, and restricted cash at beginning of period	945	927
Cash, cash equivalents, and restricted cash at end of period	$ 1,748	$ 796

Basis of Presentation

6 Months Ended

Mar. 26, 2021

Basis of Presentation

Basis of Presentation

1. Basis of Presentation

The unaudited Condensed Consolidated Financial Statements of TE Connectivity Ltd. (“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 25, 2020.

Unless otherwise indicated, references in the Condensed Consolidated Financial Statements to fiscal 2021 and fiscal 2020 are to our fiscal years ending September 24, 2021 and ended September 25, 2020, respectively.

Restructuring and Other Charges, Net

6 Months Ended

Mar. 26, 2021

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 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Restructuring charges, net	$	11	$	22	$	160	$	46
Impairment of held for sale businesses and loss on divestiture		4		—		21		—
Other charges, net		2		—		3		—
Restructuring and other charges, net	$	17	$	22	$	184	$	46

Net restructuring charges by segment were as follows:


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Transportation Solutions	$	10	$	18	$	128	$	22
Industrial Solutions		—		1		20		16
Communications Solutions		1		3		12		8
Restructuring charges, net	$	11	$	22	$	160	$	46

Activity in our restructuring reserves was as follows:


	Balance at												Balance at
	September 25,				Changes in		Cash		Non-Cash		Currency		March 26,
	2020		Charges		Estimate		Payments		Items		Translation		2021

	(in millions)
Fiscal 2021 Actions:
Employee severance	$	—	$	161	$	(14)	$	(5)	$	—	$	(4)	$	138
Facility and other exit costs		—		2		—		(2)		—		—		—
Property, plant, and equipment		—		4		—		—		(4)		—		—
Total		—		167		(14)		(7)		(4)		(4)		138
Fiscal 2020 Actions:
Employee severance		180		2		—		(59)		—		5		128
Facility and other exit costs		8		7		—		(1)		—		1		15
Property, plant, and equipment		—		5		—		—		(5)		—		—
Total		188		14		—		(60)		(5)		6		143
Pre-Fiscal 2020 Actions:
Employee severance		93		—		(6)		(36)		—		1		52
Facility and other exit costs		4		1		—		(5)		—		—		—
Property, plant, and equipment		—		—		(2)		—		2		—		—
Total		97		1		(8)		(41)		2		1		52
Total Activity	$	285	$	182	$	(22)	$	(108)	$	(7)	$	3	$	333

Fiscal 2021 Actions

During fiscal 2021, we initiated a restructuring program across all segments to optimize our manufacturing footprint and improve the cost structure of the organization. During the six months ended March 26, 2021, we recorded net restructuring charges of $153 million in connection with this program. We expect to complete all restructuring actions commenced during the six months ended March 26, 2021 by the end of fiscal 2022 and to incur additional charges of approximately $20 million related primarily to employee severance and facility exit costs across all segments.

Fiscal 2020 Actions

During fiscal 2020, we initiated a restructuring program associated with footprint consolidation and structural improvements, due in part to the COVID-19 pandemic, across all segments. In connection with this program, during the six months ended March 26, 2021 and March 27, 2020, we recorded restructuring charges of $14 million and $43 million, respectively. We expect to complete all restructuring actions commenced during fiscal 2020 by the end of fiscal 2023 and to incur additional charges of approximately $26 million related primarily to employee severance and facility exit costs.

The following table summarizes expected, incurred, and remaining charges for the fiscal 2020 program by segment:


	Total		Cumulative		Remaining
	Expected		Charges		Expected
	Charges		Incurred		Charges

	(in millions)
Transportation Solutions	$	140	$	127	$	13
Industrial Solutions		109		100		9
Communications Solutions		41		37		4
Total	$	290	$	264	$	26

Pre-Fiscal 2020 Actions

Prior to fiscal 2020, we initiated restructuring programs associated with footprint consolidation and structural improvements impacting all segments. During the six months ended March 26, 2021 and March 27, 2020, we recorded net restructuring credits of $7 million and charges of $3 million, respectively, related to pre-fiscal 2020 actions. We expect additional charges related to pre-fiscal 2020 actions to be insignificant.

Total Restructuring Reserves

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


	March 26,		September 25,
	2021		2020

	(in millions)
Accrued and other current liabilities	$	270	$	229
Other liabilities		63		56
Restructuring reserves	$	333	$	285

Acquisitions

6 Months Ended

Mar. 26, 2021

Acquisitions

Acquisitions

3. Acquisitions

During the six months ended March 26, 2021, we acquired one business for a cash purchase price of $106 million, net of cash acquired. The acquisition was reported as part of our Industrial Solutions segment from the date of acquisition.

We acquired four businesses, including First Sensor AG (“First Sensor”), for a combined cash purchase price of $356 million, net of cash acquired, during the six months ended March 27, 2020. The acquisitions were reported as part of our Transportation Solutions and Industrial Solutions segments from the date of acquisition.

In connection with the acquisition of First Sensor, we and First Sensor entered into a Domination and Profit and Loss Transfer Agreement (“DPLTA”). Under the terms of the DPLTA, upon its effectiveness in July 2020, First Sensor minority shareholders can elect either (1) to remain First Sensor minority shareholders and receive recurring annual compensation of €0.56 per First Sensor share or (2) to put their First Sensor shares in exchange for compensation of €33.27 per First Sensor share. The ultimate amount and timing of any future cash payments related to the DPLTA is uncertain. Our First Sensor noncontrolling interest balance, which was originally recorded at a fair value of €96 million (equivalent to $107 million), is recorded as redeemable noncontrolling interest outside of equity on the Condensed Consolidated Balance Sheet as of March 26, 2021 and September 25, 2020 as the exercise of the put right by First Sensor minority shareholders is not within our control.

Inventories

6 Months Ended

Mar. 26, 2021

Inventories

Inventories

4. Inventories

Inventories consisted of the following:


	March 26,		September 25,
	2021		2020

	(in millions)
Raw materials	$	290	$	251
Work in progress		924		851
Finished goods		920		848
Inventories	$	2,134	$	1,950

Goodwill

6 Months Ended

Mar. 26, 2021

Goodwill

Goodwill

5. Goodwill

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


	Transportation		Industrial		Communications
	Solutions		Solutions		Solutions		Total

	(in millions)
September 25, 2020⁽¹⁾	$	1,527	$	3,110	$	587	$	5,224
Acquisitions		—		54		—		54
Purchase price adjustments		1		(1)		—		—
Currency translation and other		20		36		8		64
March 26, 2021⁽¹⁾	$	1,548	$	3,199	$	595	$	5,342

(1)	At March 26, 2021 and September 25, 2020, accumulated impairment losses for the Transportation Solutions, Industrial Solutions, and Communications Solutions segments were $3,091 million, $669 million, and $489 million, respectively.

During the six months ended March 26, 2021, we recognized goodwill in the Industrial Solutions segment in connection with a recent acquisition. See Note 3 for additional information regarding the acquisition.

Intangible Assets, Net

6 Months Ended

Mar. 26, 2021

Intangible Assets, Net

Intangible Assets, Net

6. Intangible Assets, Net

Intangible assets consisted of the following:


	March 26, 2021						September 25, 2020
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

	(in millions)
Customer relationships	$	1,699	$	(610)	$	1,089	$	1,648	$	(554)	$	1,094
Intellectual property		1,233		(787)		446		1,225		(739)		486
Other		19		(6)		13		19		(6)		13
Total	$	2,951	$	(1,403)	$	1,548	$	2,892	$	(1,299)	$	1,593

Intangible asset amortization expense was $48 million and $46 million for the quarters ended March 26, 2021 and March 27, 2020, respectively, and $96 million and $91 million for the six months ended March 26, 2021 and March 27, 2020, respectively.

At March 26, 2021, the aggregate amortization expense on intangible assets is expected to be as follows:


	(in millions)
Remainder of fiscal 2021	$	96
Fiscal 2022		192
Fiscal 2023		191
Fiscal 2024		159
Fiscal 2025		143
Fiscal 2026		137
Thereafter		630
Total	$	1,548

Debt

6 Months Ended

Mar. 26, 2021

Debt

Debt

7. Debt

During the quarter ended March 26, 2021, Tyco Electronics Group S.A. (“TEGSA”), our wholly-owned subsidiary, repaid, at maturity, $250 million of 4.875% senior notes due in January 2021.

In February 2021, TEGSA issued €550 million aggregate principal amount of 0.00% senior notes due in February 2029. The 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. The notes are fully and unconditionally guaranteed as to payment on an unsecured basis by TE Connectivity Ltd.

During the quarter ended March 26, 2021, we reclassified $500 million of 3.50% senior notes due in February 2022 from long-term debt to short-term debt on the Condensed Consolidated Balance Sheet.

The fair value of our debt, based on indicative valuations, was approximately $4,899 million and $4,550 million at March 26, 2021 and September 25, 2020, respectively.

Leases

6 Months Ended

Mar. 26, 2021

Leases

Leases

8. Leases

The components of lease cost were as follows:


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Operating lease cost	$	29	$	25	$	59	$	52
Variable lease cost		13		15		24		26
Total lease cost	$	42	$	40	$	83	$	78

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


	For the
	Six Months Ended
	March 26,		March 27,
	2021		2020

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Payments for operating leases⁽¹⁾	$	59	$	51

Right-of-use assets obtained in exchange for new operating lease liabilities		38		12

(1)

These payments are included in cash flows from continuing operating activities, primarily in changes in other liabilities.

Commitments and Contingencies

6 Months Ended

Mar. 26, 2021

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, 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

We are investigating our past compliance with relevant U.S. trade controls and have made voluntary disclosures of apparent trade controls violations to the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) and the U.S. State Department’s Directorate of Defense Trade Controls (“DDTC”). We are cooperating with the BIS and DDTC on these matters, and both our internal assessment and the resulting investigations by the agencies remain ongoing. We are unable to predict the timing and final outcome of the agencies’ investigations. An unfavorable outcome may include fines or penalties imposed in response to our disclosures, but we are not yet able to reasonably estimate the extent of any such fines or penalties. While we have reserved for potential fines and penalties relating to these matters based on our current understanding of the facts, the investigations into these matters have yet to be completed and the final outcome of such investigations and related fines and 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 26, 2021, we concluded that we would incur investigation and remediation costs at these sites in the reasonably possible range of $17 million to $47 million, and we accrued $20 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 26, 2021, we had outstanding letters of credit, letters of guarantee, and surety bonds of $157 million, excluding those related to our Subsea Communications (“SubCom”) business which are discussed below.

During fiscal 2019, we sold our SubCom business. In connection with the sale, we contractually agreed to continue to honor performance guarantees and letters of credit related to the SubCom business’ projects that existed as of the date of sale. These performance guarantees and letters of credit had a combined value of approximately $130 million as of March 26, 2021 and are expected to expire at various dates through fiscal 2025. During the quarter ended March 26, 2021, we amended our agreement with SubCom and removed the requirement to issue new performance guarantees. We have contractual recourse against the SubCom business if we are required to perform on any SubCom guarantees; however, based on historical experience, we do not anticipate having to perform.

Financial Instruments

6 Months Ended

Mar. 26, 2021

Financial Instruments

Financial Instruments

10. Financial Instruments

Foreign Currency Exchange Rate Risk

We utilize cross-currency swap contracts to reduce our exposure to foreign currency exchange rate risk associated with certain intercompany loans. The aggregate notional value of these contracts was €700 million at March 26, 2021 and September 25, 2020. Under the terms of these contracts, which have been designated as cash flow hedges, we make interest payments in euros at 3.50% per annum and receive interest in U.S. dollars at a weighted-average rate of 5.34% per annum. Upon maturity in fiscal 2022, we will pay the notional value of the contracts in euros and receive U.S. dollars from our counterparties. In connection with the cross-currency swap contracts, both counterparties to each contract are required to provide cash collateral.

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


	March 26,		September 25,
	2021		2020

	(in millions)
Other assets	$	—	$	1
Other liabilities		24		9

At March 26, 2021 and September 25, 2020, collateral received from or paid to our counterparties approximated the net derivative position. Collateral is recorded in accrued and other current liabilities when the contracts are in a net asset position, or prepaid expenses and other current assets when the contracts are in a net liability position on the Condensed Consolidated Balance Sheets. The impacts of these cross-currency swap contracts were as follows:


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Gains (losses) recorded in other comprehensive income (loss)	$	—	$	28	$	(4)	$	32
Gains (losses) excluded from the hedging relationship⁽¹⁾		28		17		(12)		(5)

(1)	Gains and losses excluded from the hedging relationship are recognized prospectively in selling, general, and administrative expenses and are offset by losses and gains generated as a result of re-measuring certain intercompany loans to the U.S. dollar.

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 $4,154 million and $3,511 million at March 26, 2021 and September 25, 2020, 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 $1,380 million and $1,664 million at March 26, 2021 and September 25, 2020, respectively. Under the terms of these contracts, we receive interest in U.S. dollars at a weighted-average rate of 2.29% per annum and pay no interest. Upon the maturity of these contracts at various dates through fiscal 2025, 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 26,		September 25,
	2021		2020

	(in millions)
Prepaid expenses and other current assets	$	1	$	1
Other assets		11		3
Accrued and other current liabilities		11		6
Other liabilities		27		16

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


		For the			For the
		Quarters Ended			Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Foreign currency exchange gains (losses) on intercompany loans and external borrowings⁽¹⁾	$	133	$	57	$	(35)	$	(8)
Gains (losses) on cross-currency swap contracts designated as hedges of net investment⁽¹⁾		58		55		(27)		22

(1)	Recorded as currency translation, a component of accumulated other comprehensive income (loss).

Interest Rate Risk Management

We utilize forward starting interest rate swap contracts to manage interest rate exposure in periods prior to the anticipated issuance of fixed rate debt. These contracts had an aggregate notional value of $450 million at March 26, 2021 and September 25, 2020 and were designated as cash flow hedges. These forward starting interest rate swap contracts were recorded on the Condensed Consolidated Balance Sheets as follows:


	March 26,		September 25,
	2021		2020

	(in millions)
Prepaid expenses and other current assets	$	10	$	—
Accrued and other current liabilities		27		—
Other liabilities		—		64

The impacts of these forward starting interest rate swap contracts were as follows:

For the

Quarters Ended

Six Months Ended

March 26,

March 27,

March 26,

March 27,

2021

2020

2021

2020

(in millions)

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

$

34

$

(42)

$

47

$

(32)

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 $410 million and $312 million at March

26, 2021 and September 25, 2020, respectively, and were designated as cash flow hedges. These commodity swap contracts were recorded on the Condensed Consolidated Balance Sheets as follows:


	March 26,		September 25,
	2021		2020

	(in millions)
Prepaid expenses and other current assets	$	53	$	41
Other assets		2		3
Accrued and other current liabilities		6		2
Other liabilities		3		1

The impacts of these commodity swap contracts were as follows:


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Gains (losses) recorded in other comprehensive income (loss)	$	17	$	(37)	$	54	$	(18)
Gains reclassified from accumulated other comprehensive income (loss) into cost of sales		24		4		39		3

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.

Retirement Plans

6 Months Ended

Mar. 26, 2021

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 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Operating expense:
Service cost	$	12	$	12	$	3	$	2
Other (income) expense:
Interest cost		7		6		8		9
Expected return on plan assets		(13)		(15)		(13)		(14)
Amortization of net actuarial loss		7		10		2		2
Amortization of prior service credit		(2)		(1)		—		—
Net periodic pension benefit cost (credit)	$	11	$	12	$	—	$	(1)


	Non-U.S. Plans				U.S. Plans
	For the				For the
	Six Months Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Operating expense:
Service cost	$	24	$	25	$	6	$	5
Other (income) expense:
Interest cost		14		12		16		18
Expected return on plan assets		(27)		(30)		(26)		(29)
Amortization of net actuarial loss		15		20		4		4
Amortization of prior service credit		(3)		(3)		—		—
Net periodic pension benefit cost (credit)	$	23	$	24	$	—	$	(2)

During the six months ended March 26, 2021, we contributed $20 million and $18 million to our non-U.S. and U.S. pension plans, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes

6 Months Ended

Mar. 26, 2021

Income Taxes

Income Taxes

12. Income Taxes

We recorded income tax expense of $106 million and $42 million for the quarters ended March 26, 2021 and March 27, 2020, respectively. The income tax expense for the quarter ended March 27, 2020 included an income tax benefit of $31 million related to pre-separation tax matters and the termination of the Tax Sharing Agreement with Tyco International plc (now part of Johnson Controls International plc) and Covidien plc (now part of Medtronic plc). The pre-tax goodwill impairment charge of $900 million recorded during the quarter ended March 27, 2020 resulted in a tax benefit of $4 million as the associated goodwill was primarily not deductible for income tax purposes.

We recorded income tax expense of $166 million and $489 million for the six months ended March 26, 2021 and March 27, 2020, respectively. The income tax expense for the six months ended March 26, 2021 included a $29 million income tax benefit related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets. The income tax expense for the six months ended March 27, 2020 included $355 million of income tax expense related to the tax impacts of certain measures of the Switzerland Federal Act on Tax Reform and AHV Financing (“Swiss Tax Reform”), and an income tax benefit of $31 million related to pre-separation tax matters and the termination of the Tax Sharing Agreement. See “Swiss Tax Reform” below for additional information.

Although it is difficult to predict the timing or results of our worldwide examinations, we estimate that approximately $110 million of unrecognized income tax benefits, excluding the impact relating to accrued interest and penalties, could be resolved within the next twelve months.

We are not aware of any other matters that would result in significant changes to the amount of unrecognized income tax benefits reflected on the Condensed Consolidated Balance Sheet as of March 26, 2021.

Swiss Tax Reform

The Federal Act on Tax Reform and AHV Financing eliminated certain preferential tax items and implemented new tax rates at both the federal and cantonal levels. During fiscal 2019, Switzerland enacted the federal provisions of Swiss Tax Reform and the federal tax authority issued guidance abolishing certain interest deductions. The impacts of these measures were reflected in our fiscal 2019 Consolidated Financial Statements.

In October 2019, the canton of Schaffhausen enacted Swiss Tax Reform into law, including reductions in tax rates. During the six months ended March 27, 2020, we recognized $355 million of income tax expense related primarily to cantonal implementation and the resulting write-down of certain deferred tax assets to the lower tax rates.

- Definition

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

+ References + Details

Earnings (Loss) Per Share

6 Months Ended

Mar. 26, 2021

Earnings (Loss) Per Share

Earnings (Loss) Per Share

13. Earnings (Loss) Per Share

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


	For the		For the
	Quarters Ended		Six Months Ended
	March 26,	March 27,	March 26,	March 27,
	2021	2020	2021	2020

	(in millions)
Basic	331	334	331	334
Dilutive impact of share-based compensation arrangements	3	—	2	—
Diluted	334	334	333	334

For the quarter and six months ended March 27, 2020, there were nonvested share awards and options outstanding with underlying exercise prices less than the average market prices of our common shares; however, these were excluded from the calculation of diluted loss per share as inclusion would be antidilutive as a result of our loss during the period. Such shares not included in the computation of diluted loss per share were one million and two million in the quarter and six months ended March 27, 2020, respectively.

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


	For the		For the
	Quarters Ended		Six Months Ended
	March 26,	March 27,	March 26,	March 27,
	2021	2020	2021	2020

	(in millions)
Antidilutive share options	—	3	—	3

Shareholders' Equity

6 Months Ended

Mar. 26, 2021

Shareholders' Equity

Shareholder' Equity

14. Shareholders’ Equity

Common Shares Held in Treasury

In March 2021, our shareholders approved the cancellation of approximately 3 million shares purchased under our share repurchase program during the period beginning September 28, 2019 and ending September 25, 2020. The capital reduction by cancellation of these shares is subject to a notice period and filing with the commercial register in Switzerland and is not yet reflected on the Condensed Consolidated Balance Sheet.

Dividends

We paid cash dividends to shareholders as follows:

For the

Quarters Ended

Six Months Ended

March 26,

March 27,

March 26,

March 27,

2021

2020

2021

2020

Dividends paid per common share

$

0.48

$

0.46

$

0.96

$

0.92

In March 2021, our shareholders approved a dividend payment to shareholders of $2.00 per share, payable in four equal quarterly installments of $0.50 per share beginning in the third quarter of 2021 and ending in the second quarter of fiscal 2022.

Upon shareholders’ approval of a dividend payment, we record a liability with a corresponding charge to shareholders’ equity. At March 26, 2021 and September 25, 2020, the unpaid portion of the dividends recorded in accrued and other current liabilities on the Condensed Consolidated Balance Sheets totaled $661 million and $317 million, respectively.

Share Repurchase Program

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


	For the
	Six Months Ended
	March 26,		March 27,
	2021		2020

	(in millions)
Number of common shares repurchased		3		5
Repurchase value	$	309	$	423

At March 26, 2021, we had $686 million of availability remaining under our share repurchase authorization.

Share Plans

6 Months Ended

Mar. 26, 2021

Share Plans

Share Plans

15. Share Plans

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

For the

Quarters Ended

Six Months Ended

March 26,

March 27,

March 26,

March 27,

2021

2020

2021

2020

(in millions)

Share-based compensation expense

$

30

$

15

$

49

$

37

As of March 26, 2021, there was $151 million of unrecognized compensation expense related to share-based awards, which is expected to be recognized over a weighted-average period of 2.0 years.

During the quarter ended December 25, 2020, we granted the following share-based awards as part of our annual incentive plan grant:


		Grant-Date
	Shares	Fair Value
	(in millions)
Share options	1.3	$	22.03
Restricted share awards	0.4		105.86
Performance share awards	0.2		105.86

As of March 26, 2021, we had 13 million shares available for issuance under the TE Connectivity Ltd. 2007 Stock and Incentive Plan, amended and restated as of September 17, 2020.

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		28	%
Risk-free interest rate		0.5	%
Expected annual dividend per share	$	1.92
Expected life of options (in years)		5.4

Segment and Geographic Data

6 Months Ended

Mar. 26, 2021

Segment and Geographic Data

Segment and Geographic Data

16. Segment and Geographic Data

Net sales by segment⁽¹⁾ and industry end market⁽²⁾ were as follows:


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Transportation Solutions:
Automotive	$	1,630	$	1,365	$	3,259	$	2,770
Commercial transportation		382		294		713		552
Sensors		275		198		539		403
Total Transportation Solutions		2,287		1,857		4,511		3,725
Industrial Solutions:
Aerospace, defense, oil, and gas		267		318		517		627
Industrial equipment		339		280		634		543
Medical		161		186		317		365
Energy		185		178		357		354
Total Industrial Solutions		952		962		1,825		1,889
Communications Solutions:
Data and devices		278		218		512		437
Appliances		221		158		412		312
Total Communications Solutions		499		376		924		749
Total	$	3,738	$	3,195	$	7,260	$	6,363

(1)

Intersegment sales were not material.

(2)

Industry end market information is presented consistently with our internal management reporting and may be revised periodically as management deems necessary.

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


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Asia–Pacific:
Transportation Solutions	$	875	$	631	$	1,751	$	1,373
Industrial Solutions		171		138		334		283
Communications Solutions		290		222		544		448
Total Asia–Pacific		1,336		991		2,629		2,104
Europe/Middle East/Africa (“EMEA”):
Transportation Solutions		922		766		1,816		1,468
Industrial Solutions		393		361		751		701
Communications Solutions		75		61		139		116
Total EMEA		1,390		1,188		2,706		2,285
Americas:
Transportation Solutions		490		460		944		884
Industrial Solutions		388		463		740		905
Communications Solutions		134		93		241		185
Total Americas		1,012		1,016		1,925		1,974
Total	$	3,738	$	3,195	$	7,260	$	6,363

(1)

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

Operating income (loss) by segment was as follows:


	For the					For the
	Quarters Ended					Six Months Ended
	March 26,		March 27,			March 26,		March 27,
	2021		2020			2021		2020

	(in millions)
Transportation Solutions	$	398	$	(606)	⁽¹⁾	$	706	$	(290)	⁽¹⁾
Industrial Solutions		111		142			187		257
Communications Solutions		103		49			167		89
Total	$	612	$	(415)		$	1,060	$	56

(1)

Includes goodwill impairment charge of $900 million.

- Definition

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

+ References

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Restructuring and Other Charges, Net (Tables)

6 Months Ended

Mar. 26, 2021

Restructuring and Other Charges, Net

Schedule of net restructuring and other charges


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Restructuring charges, net	$	11	$	22	$	160	$	46
Impairment of held for sale businesses and loss on divestiture		4		—		21		—
Other charges, net		2		—		3		—
Restructuring and other charges, net	$	17	$	22	$	184	$	46

Net restructuring charges by segment


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Transportation Solutions	$	10	$	18	$	128	$	22
Industrial Solutions		—		1		20		16
Communications Solutions		1		3		12		8
Restructuring charges, net	$	11	$	22	$	160	$	46

Summary of activity in restructuring reserves


	Balance at												Balance at
	September 25,				Changes in		Cash		Non-Cash		Currency		March 26,
	2020		Charges		Estimate		Payments		Items		Translation		2021

	(in millions)
Fiscal 2021 Actions:
Employee severance	$	—	$	161	$	(14)	$	(5)	$	—	$	(4)	$	138
Facility and other exit costs		—		2		—		(2)		—		—		—
Property, plant, and equipment		—		4		—		—		(4)		—		—
Total		—		167		(14)		(7)		(4)		(4)		138
Fiscal 2020 Actions:
Employee severance		180		2		—		(59)		—		5		128
Facility and other exit costs		8		7		—		(1)		—		1		15
Property, plant, and equipment		—		5		—		—		(5)		—		—
Total		188		14		—		(60)		(5)		6		143
Pre-Fiscal 2020 Actions:
Employee severance		93		—		(6)		(36)		—		1		52
Facility and other exit costs		4		1		—		(5)		—		—		—
Property, plant, and equipment		—		—		(2)		—		2		—		—
Total		97		1		(8)		(41)		2		1		52
Total Activity	$	285	$	182	$	(22)	$	(108)	$	(7)	$	3	$	333

Schedule of expected, incurred and remaining charges by segment

The following table summarizes expected, incurred, and remaining charges for the fiscal 2020 program by segment:


	Total		Cumulative		Remaining
	Expected		Charges		Expected
	Charges		Incurred		Charges

	(in millions)
Transportation Solutions	$	140	$	127	$	13
Industrial Solutions		109		100		9
Communications Solutions		41		37		4
Total	$	290	$	264	$	26

Restructuring reserves included on Consolidated Balance Sheets


	March 26,		September 25,
	2021		2020

	(in millions)
Accrued and other current liabilities	$	270	$	229
Other liabilities		63		56
Restructuring reserves	$	333	$	285

Inventories (Tables)

6 Months Ended

Mar. 26, 2021

Inventories

Schedule of inventories


	March 26,		September 25,
	2021		2020

	(in millions)
Raw materials	$	290	$	251
Work in progress		924		851
Finished goods		920		848
Inventories	$	2,134	$	1,950

Goodwill (Tables)

6 Months Ended

Mar. 26, 2021

Goodwill

Changes in the carrying amount of goodwill by segment


	Transportation		Industrial		Communications
	Solutions		Solutions		Solutions		Total

	(in millions)
September 25, 2020⁽¹⁾	$	1,527	$	3,110	$	587	$	5,224
Acquisitions		—		54		—		54
Purchase price adjustments		1		(1)		—		—
Currency translation and other		20		36		8		64
March 26, 2021⁽¹⁾	$	1,548	$	3,199	$	595	$	5,342

(1)	At March 26, 2021 and September 25, 2020, accumulated impairment losses for the Transportation Solutions, Industrial Solutions, and Communications Solutions segments were $3,091 million, $669 million, and $489 million, respectively.

Intangible Assets, Net (Tables)

6 Months Ended

Mar. 26, 2021

Intangible Assets, Net

Schedule of finite-lived intangible assets


	March 26, 2021						September 25, 2020
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount

	(in millions)
Customer relationships	$	1,699	$	(610)	$	1,089	$	1,648	$	(554)	$	1,094
Intellectual property		1,233		(787)		446		1,225		(739)		486
Other		19		(6)		13		19		(6)		13
Total	$	2,951	$	(1,403)	$	1,548	$	2,892	$	(1,299)	$	1,593

Schedule of finite-lived intangible assets, future amortization expense

At March 26, 2021, the aggregate amortization expense on intangible assets is expected to be as follows:


	(in millions)
Remainder of fiscal 2021	$	96
Fiscal 2022		192
Fiscal 2023		191
Fiscal 2024		159
Fiscal 2025		143
Fiscal 2026		137
Thereafter		630
Total	$	1,548

Leases (Tables)

6 Months Ended

Mar. 26, 2021

Leases

Schedule of components of lease cost


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Operating lease cost	$	29	$	25	$	59	$	52
Variable lease cost		13		15		24		26
Total lease cost	$	42	$	40	$	83	$	78

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


	For the
	Six Months Ended
	March 26,		March 27,
	2021		2020

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Payments for operating leases⁽¹⁾	$	59	$	51

Right-of-use assets obtained in exchange for new operating lease liabilities		38		12

(1)

These payments are included in cash flows from continuing operating activities, primarily in changes in other liabilities.

Financial Instruments (Tables)

6 Months Ended

Mar. 26, 2021

Net investment hedges

Schedule of impacts of hedging program


		For the			For the
		Quarters Ended			Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Foreign currency exchange gains (losses) on intercompany loans and external borrowings⁽¹⁾	$	133	$	57	$	(35)	$	(8)
Gains (losses) on cross-currency swap contracts designated as hedges of net investment⁽¹⁾		58		55		(27)		22

(1)	Recorded as currency translation, a component of accumulated other comprehensive income (loss).

Cross-currency swap contracts | Cash flow hedges

Summary of fair value of derivative instruments


	March 26,		September 25,
	2021		2020

	(in millions)
Other assets	$	—	$	1
Other liabilities		24		9

Schedule of impacts of hedging program


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Gains (losses) recorded in other comprehensive income (loss)	$	—	$	28	$	(4)	$	32
Gains (losses) excluded from the hedging relationship⁽¹⁾		28		17		(12)		(5)

(1)	Gains and losses excluded from the hedging relationship are recognized prospectively in selling, general, and administrative expenses and are offset by losses and gains generated as a result of re-measuring certain intercompany loans to the U.S. dollar.

Cross-currency swap contracts | Net investment hedges

Summary of fair value of derivative instruments


	March 26,		September 25,
	2021		2020

	(in millions)
Prepaid expenses and other current assets	$	1	$	1
Other assets		11		3
Accrued and other current liabilities		11		6
Other liabilities		27		16

Forward starting interest rate swap contracts | Cash flow hedges

Summary of fair value of derivative instruments


	March 26,		September 25,
	2021		2020

	(in millions)
Prepaid expenses and other current assets	$	10	$	—
Accrued and other current liabilities		27		—
Other liabilities		—		64

Schedule of impacts of hedging program

For the

Quarters Ended

Six Months Ended

March 26,

March 27,

March 26,

March 27,

2021

2020

2021

2020

(in millions)

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

$

34

$

(42)

$

47

$

(32)

Commodity swap contracts | Cash flow hedges

Summary of fair value of derivative instruments


	March 26,		September 25,
	2021		2020

	(in millions)
Prepaid expenses and other current assets	$	53	$	41
Other assets		2		3
Accrued and other current liabilities		6		2
Other liabilities		3		1

Schedule of impacts of hedging program


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Gains (losses) recorded in other comprehensive income (loss)	$	17	$	(37)	$	54	$	(18)
Gains reclassified from accumulated other comprehensive income (loss) into cost of sales		24		4		39		3

Retirement Plans (Tables)

6 Months Ended

Mar. 26, 2021

Retirement Plans

Net periodic pension benefit cost


	Non-U.S. Plans				U.S. Plans
	For the				For the
	Quarters Ended				Quarters Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Operating expense:
Service cost	$	12	$	12	$	3	$	2
Other (income) expense:
Interest cost		7		6		8		9
Expected return on plan assets		(13)		(15)		(13)		(14)
Amortization of net actuarial loss		7		10		2		2
Amortization of prior service credit		(2)		(1)		—		—
Net periodic pension benefit cost (credit)	$	11	$	12	$	—	$	(1)


	Non-U.S. Plans				U.S. Plans
	For the				For the
	Six Months Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Operating expense:
Service cost	$	24	$	25	$	6	$	5
Other (income) expense:
Interest cost		14		12		16		18
Expected return on plan assets		(27)		(30)		(26)		(29)
Amortization of net actuarial loss		15		20		4		4
Amortization of prior service credit		(3)		(3)		—		—
Net periodic pension benefit cost (credit)	$	23	$	24	$	—	$	(2)

Earnings (Loss) Per Share (Tables)

6 Months Ended

Mar. 26, 2021

Earnings (Loss) Per Share

Schedule of weighted-average shares outstanding, basic and diluted


	For the		For the
	Quarters Ended		Six Months Ended
	March 26,	March 27,	March 26,	March 27,
	2021	2020	2021	2020

	(in millions)
Basic	331	334	331	334
Dilutive impact of share-based compensation arrangements	3	—	2	—
Diluted	334	334	333	334

Schedule of antidilutive securities excluded from computation of earnings per share


	For the		For the
	Quarters Ended		Six Months Ended
	March 26,	March 27,	March 26,	March 27,
	2021	2020	2021	2020

	(in millions)
Antidilutive share options	—	3	—	3

Shareholders' Equity (Tables)

6 Months Ended

Mar. 26, 2021

Shareholders' Equity

Schedule of cash dividends to shareholders

For the

Quarters Ended

Six Months Ended

March 26,

March 27,

March 26,

March 27,

2021

2020

2021

2020

Dividends paid per common share

$

0.48

$

0.46

$

0.96

$

0.92

Schedule of common shares repurchased


	For the
	Six Months Ended
	March 26,		March 27,
	2021		2020

	(in millions)
Number of common shares repurchased		3		5
Repurchase value	$	309	$	423

Share Plans (Tables)

6 Months Ended

Mar. 26, 2021

Share Plans

Share-based compensation expense

For the

Quarters Ended

Six Months Ended

March 26,

March 27,

March 26,

March 27,

2021

2020

2021

2020

(in millions)

Share-based compensation expense

$

30

$

15

$

49

$

37

Summary of share-based award activity

During the quarter ended December 25, 2020, we granted the following share-based awards as part of our annual incentive plan grant:


		Grant-Date
	Shares	Fair Value
	(in millions)
Share options	1.3	$	22.03
Restricted share awards	0.4		105.86
Performance share awards	0.2		105.86

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		28	%
Risk-free interest rate		0.5	%
Expected annual dividend per share	$	1.92
Expected life of options (in years)		5.4

Segment and Geographic Data (Tables)

6 Months Ended

Mar. 26, 2021

Segment and Geographic Data

Schedule of net sales by segment


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Transportation Solutions:
Automotive	$	1,630	$	1,365	$	3,259	$	2,770
Commercial transportation		382		294		713		552
Sensors		275		198		539		403
Total Transportation Solutions		2,287		1,857		4,511		3,725
Industrial Solutions:
Aerospace, defense, oil, and gas		267		318		517		627
Industrial equipment		339		280		634		543
Medical		161		186		317		365
Energy		185		178		357		354
Total Industrial Solutions		952		962		1,825		1,889
Communications Solutions:
Data and devices		278		218		512		437
Appliances		221		158		412		312
Total Communications Solutions		499		376		924		749
Total	$	3,738	$	3,195	$	7,260	$	6,363

(1)

Intersegment sales were not material.

(2)

Industry end market information is presented consistently with our internal management reporting and may be revised periodically as management deems necessary.

Schedule of net sales by geographic region and segment


	For the				For the
	Quarters Ended				Six Months Ended
	March 26,		March 27,		March 26,		March 27,
	2021		2020		2021		2020

	(in millions)
Asia–Pacific:
Transportation Solutions	$	875	$	631	$	1,751	$	1,373
Industrial Solutions		171		138		334		283
Communications Solutions		290		222		544		448
Total Asia–Pacific		1,336		991		2,629		2,104
Europe/Middle East/Africa (“EMEA”):
Transportation Solutions		922		766		1,816		1,468
Industrial Solutions		393		361		751		701
Communications Solutions		75		61		139		116
Total EMEA		1,390		1,188		2,706		2,285
Americas:
Transportation Solutions		490		460		944		884
Industrial Solutions		388		463		740		905
Communications Solutions		134		93		241		185
Total Americas		1,012		1,016		1,925		1,974
Total	$	3,738	$	3,195	$	7,260	$	6,363

(1)

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

Schedule of operating income (loss) by segment


	For the					For the
	Quarters Ended					Six Months Ended
	March 26,		March 27,			March 26,		March 27,
	2021		2020			2021		2020

	(in millions)
Transportation Solutions	$	398	$	(606)	⁽¹⁾	$	706	$	(290)	⁽¹⁾
Industrial Solutions		111		142			187		257
Communications Solutions		103		49			167		89
Total	$	612	$	(415)		$	1,060	$	56

(1)

Includes goodwill impairment charge of $900 million.

Restructuring and Other Charges, Net - Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Restructuring and other charges, net
Restructuring charges, net	$ 11	$ 22	$ 160	$ 46
Impairment of held for sale businesses and Loss on divestiture	4		21
Other charges, net	2		3
Restructuring and other charges, net	17	22	184	46
Transportation Solutions
Restructuring and other charges, net
Restructuring charges, net	10	18	128	22
Industrial Solutions
Restructuring and other charges, net
Restructuring charges, net		1	20	16
Communications Solutions
Restructuring and other charges, net
Restructuring charges, net	$ 1	$ 3	$ 12	$ 8

Restructuring and Other Charges, Net - Restructuring Reserve Activity (Details) $ in Millions	6 Months Ended
	Mar. 26, 2021 USD ($)
Restructuring reserve
Restructuring reserve at the beginning of the period	$ 285
Charges	182
Changes in Estimate	(22)
Cash Payments	(108)
Non-Cash Items	(7)
Currency Translation	3
Restructuring reserve at the end of the period	333
Fiscal 2021 Actions
Restructuring reserve
Charges	167
Changes in Estimate	(14)
Cash Payments	(7)
Non-Cash Items	(4)
Currency Translation	(4)
Restructuring reserve at the end of the period	138
Fiscal 2021 Actions \| Employee severance
Restructuring reserve
Charges	161
Changes in Estimate	(14)
Cash Payments	(5)
Currency Translation	(4)
Restructuring reserve at the end of the period	138
Fiscal 2021 Actions \| Facility and other exit costs
Restructuring reserve
Charges	2
Cash Payments	(2)
Restructuring reserve at the end of the period	0
Fiscal 2021 Actions \| Property, plant, and equipment
Restructuring reserve
Charges	4
Non-Cash Items	(4)
Restructuring reserve at the end of the period	0
Fiscal 2020 Actions
Restructuring reserve
Restructuring reserve at the beginning of the period	188
Charges	14
Cash Payments	(60)
Non-Cash Items	(5)
Currency Translation	6
Restructuring reserve at the end of the period	143
Fiscal 2020 Actions \| Employee severance
Restructuring reserve
Restructuring reserve at the beginning of the period	180
Charges	2
Cash Payments	(59)
Currency Translation	5
Restructuring reserve at the end of the period	128
Fiscal 2020 Actions \| Facility and other exit costs
Restructuring reserve
Restructuring reserve at the beginning of the period	8
Charges	7
Cash Payments	(1)
Currency Translation	1
Restructuring reserve at the end of the period	15
Fiscal 2020 Actions \| Property, plant, and equipment
Restructuring reserve
Charges	5
Non-Cash Items	(5)
Restructuring reserve at the end of the period	0
Pre-Fiscal 2020 Actions
Restructuring reserve
Restructuring reserve at the beginning of the period	97
Charges	1
Changes in Estimate	(8)
Cash Payments	(41)
Non-Cash Items	2
Currency Translation	1
Restructuring reserve at the end of the period	52
Pre-Fiscal 2020 Actions \| Employee severance
Restructuring reserve
Restructuring reserve at the beginning of the period	93
Changes in Estimate	(6)
Cash Payments	(36)
Currency Translation	1
Restructuring reserve at the end of the period	52
Pre-Fiscal 2020 Actions \| Facility and other exit costs
Restructuring reserve
Restructuring reserve at the beginning of the period	4
Charges	1
Cash Payments	(5)
Restructuring reserve at the end of the period	0
Pre-Fiscal 2020 Actions \| Property, plant, and equipment
Restructuring reserve
Changes in Estimate	(2)
Non-Cash Items	2
Restructuring reserve at the end of the period	$ 0

Restructuring and Other Charges, Net - Actions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Restructuring Charges
Total Expected Charges	$ 290		$ 290
Cumulative Charges Incurred	264		264
Remaining Expected Charges	26		26
Charges Incurred	11	$ 22	160	$ 46
Transportation Solutions
Restructuring Charges
Total Expected Charges	140		140
Cumulative Charges Incurred	127		127
Remaining Expected Charges	13		13
Charges Incurred	10	18	128	22
Industrial Solutions
Restructuring Charges
Total Expected Charges	109		109
Cumulative Charges Incurred	100		100
Remaining Expected Charges	9		9
Charges Incurred		1	20	16
Communications Solutions
Restructuring Charges
Total Expected Charges	41		41
Cumulative Charges Incurred	37		37
Remaining Expected Charges	4		4
Charges Incurred	1	$ 3	12	8
Fiscal 2021 Actions
Restructuring Charges
Remaining Expected Charges	20		20
Charges Incurred			153
Fiscal 2020 Actions
Restructuring Charges
Remaining Expected Charges	$ 26		26
Charges Incurred			14	43
Pre-Fiscal 2020 Actions
Restructuring Charges
Charges Incurred			$ (7)	$ 3

Restructuring and Other Charges, Net - Restructuring Reserve Balances (Details) - USD ($) $ in Millions	Mar. 26, 2021	Sep. 25, 2020
Restructuring reserves included on the Consolidated Balance Sheets
Accrued and other current liabilities	$ 270	$ 229
Other liabilities	63	56
Restructuring reserves	$ 333	$ 285

Acquisitions (Details) € / shares in Units, € in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 26, 2021 € / shares	Mar. 26, 2021 USD ($) item	Mar. 27, 2020 USD ($) item	Mar. 27, 2020 EUR (€)
Acquisitions
Net cash paid		$ 107	$ 359
2021 Acquisitions
Acquisitions
Number of businesses acquired \| item		1
Net cash paid		$ 106
2020 Acquisitions
Acquisitions
Number of businesses acquired \| item			4
Net cash paid			$ 356
Domination And Profit And Loss Transfer Agreement ("DPLTA") \| First Sensor AG
Acquisitions
Fair value of noncontrolling interest			$ 107	€ 96
First Sensor minority shareholders recurring annual compensation (in euro per share) \| € / shares	€ 0.56
First Sensor minority shareholders exchange compensation amount (in euro per share) \| € / shares	€ 33.27

Inventories (Details) - USD ($) $ in Millions	Mar. 26, 2021	Sep. 25, 2020
Inventories
Raw materials	$ 290	$ 251
Work in progress	924	851
Finished goods	920	848
Inventories	$ 2,134	$ 1,950

Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Mar. 26, 2021	Sep. 25, 2020
Goodwill:
Goodwill, beginning balance	$ 5,224
Acquisitions	54
Currency translation and other	64
Goodwill, ending balance	5,342
Transportation Solutions
Goodwill:
Goodwill, beginning balance	1,527
Purchase price adjustments	1
Currency translation and other	20
Goodwill, ending balance	1,548
Accumulated impairment losses	3,091	$ 3,091
Industrial Solutions
Goodwill:
Goodwill, beginning balance	3,110
Acquisitions	54
Purchase price adjustments	(1)
Currency translation and other	36
Goodwill, ending balance	3,199
Accumulated impairment losses	669	669
Communications Solutions
Goodwill:
Goodwill, beginning balance	587
Currency translation and other	8
Goodwill, ending balance	595
Accumulated impairment losses	$ 489	$ 489

Intangible Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Intangible Assets, Net (Details) - USD ($) $ in Millions	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020	Sep. 25, 2020
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 2,951		$ 2,951		$ 2,892
Accumulated Amortization	(1,403)		(1,403)		(1,299)
Net Carrying Amount	1,548		1,548		1,593
Finite-lived intangible assets, amortization expense	48	$ 46	96	$ 91
Aggregate amortization expense on intangible assets
Remainder of fiscal 2021	96		96
Fiscal 2022	192		192
Fiscal 2023	191		191
Fiscal 2024	159		159
Fiscal 2025	143		143
Fiscal 2026	137		137
Thereafter	630		630
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	1,699		1,699		1,648
Accumulated Amortization	(610)		(610)		(554)
Net Carrying Amount	1,089		1,089		1,094
Intellectual property
Finite-Lived Intangible Assets
Gross Carrying Amount	1,233		1,233		1,225
Accumulated Amortization	(787)		(787)		(739)
Net Carrying Amount	446		446		486
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	19		19		19
Accumulated Amortization	(6)		(6)		(6)
Net Carrying Amount	$ 13		$ 13		$ 13

Debt (Details) € in Millions, $ in Millions	3 Months Ended	6 Months Ended
Debt (Details) € in Millions, $ in Millions	Mar. 26, 2021 USD ($)	Mar. 26, 2021 USD ($)	Feb. 28, 2021 EUR (€)	Sep. 25, 2020 USD ($)
Debt
Repayment of debt		$ 280
Fair value of debt	$ 4,899	4,899		$ 4,550
Short-term debt	919	919		694
Long-term debt	3,602	$ 3,602		$ 3,452
4.875% senior notes due 2021
Debt
Repayment of debt	$ 250
Debt instrument, interest rate (as a percent)	4.875%	4.875%
0.00% senior notes due 2029
Debt
Debt Instrument, Face Amount \| €			€ 550
Debt instrument, interest rate (as a percent)			0.00%
Reclassification \| 3.50% senior notes due 2022
Debt
Short-term debt	$ 500	$ 500
Long-term debt	$ (500)	$ (500)
Debt instrument, interest rate (as a percent)	3.50%	3.50%

Leases - Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Leases
Operating lease cost	$ 29	$ 25	$ 59	$ 52
Variable lease cost	13	15	24	26
Total lease cost	$ 42	$ 40	$ 83	$ 78

Leases - Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020
Leases
Payments for operating leases	$ 59	$ 51
Right-of-use asset obtained in exchange for operating lease liability	$ 38	$ 12

Commitments and Contingencies (Details) $ in Millions	Mar. 26, 2021 USD ($)
Loss Contingencies
Accrual environmental loss contingency, estimate of probable loss	$ 20
Minimum
Loss Contingencies
Accrual environmental loss contingency, estimate of probable loss	17
Maximum
Loss Contingencies
Accrual environmental loss contingency, estimate of probable loss	47
Outstanding letters of credit, letters of guarantee and surety bonds
Guarantees
Guarantor obligations, maximum exposure	157
Discontinued Operations, Disposed of by Sale \| Subsea Communications
Guarantees
Guarantor obligations, maximum exposure	$ 130

Financial Instruments (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 26, 2021 USD ($)	Mar. 27, 2020 USD ($)	Mar. 26, 2021 USD ($)	Mar. 27, 2020 USD ($)	Sep. 25, 2020 USD ($)	Mar. 26, 2021 EUR (€)	Mar. 26, 2021 USD ($)	Sep. 25, 2020 EUR (€)	Sep. 25, 2020 USD ($)
Cash flow hedges \| Cross-currency swap contracts
Financial Instruments
Notional amount \| €						€ 700		€ 700
Interest paid in foreign currency, fixed interest rate						3.50%	3.50%
Interest received in U.S. dollars, weighted-average fixed interest rate						5.34%	5.34%
Gains (losses) recorded in other comprehensive income (loss)		$ 28	$ (4)	$ 32
Gains (losses) excluded from the hedging relationship	$ 28	17	(12)	(5)
Cash flow hedges \| Forward starting interest rate swap contracts
Financial Instruments
Notional amount							$ 450		$ 450
Gains (losses) recorded in other comprehensive income (loss)	34	(42)	47	(32)
Cash flow hedges \| Commodity swap contracts
Financial Instruments
Notional amount							410		312
Gains (losses) recorded in other comprehensive income (loss)	17	(37)	54	(18)
Gains (losses) reclassified from accumulated other comprehensive income (loss) into cost of sales	24	4	39	3
Net investment hedges \| Intercompany loans and external borrowings
Financial Instruments
Notional amount of non-derivative instruments	4,154				$ 3,511
Foreign currency exchange losses on intercompany loans and external borrowings	133	57	(35)	(8)
Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Notional amount							$ 1,380		1,664
Interest paid in foreign currency, fixed interest rate						0.00%	0.00%
Interest received in U.S. dollars, weighted-average fixed interest rate						2.29%	2.29%
Losses on cross-currency swap contracts designated as hedges of net investment	$ 58	$ 55	$ (27)	$ 22
Prepaid expenses and other current assets \| Cash flow hedges \| Forward starting interest rate swap contracts
Financial Instruments
Fair Value of Asset Positions							$ 10
Prepaid expenses and other current assets \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Asset Positions							53		41
Prepaid expenses and other current assets \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Asset Positions							1		1
Other assets \| Cash flow hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Asset Positions									1
Other assets \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Asset Positions							2		3
Other assets \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Asset Positions							11		3
Accrued and other current liabilities \| Cash flow hedges \| Forward starting interest rate swap contracts
Financial Instruments
Fair Value of Liability Positions							27
Accrued and other current liabilities \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Liability Positions							6		2
Accrued and other current liabilities \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Liability Positions							11		6
Other liabilities \| Cash flow hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Liability Positions							24		9
Other liabilities \| Cash flow hedges \| Forward starting interest rate swap contracts
Financial Instruments
Fair Value of Liability Positions									64
Other liabilities \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Liability Positions							3		1
Other liabilities \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Liability Positions							$ 27		$ 16

Retirement Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Non-U.S. Plans
Net Periodic Postretirement Benefit Cost (Credit)
Service cost	$ 12	$ 12	$ 24	$ 25
Interest cost	7	6	14	12
Expected return on plan assets	(13)	(15)	(27)	(30)
Amortization of net actuarial loss	7	10	15	20
Amortization of prior service credit	(2)	(1)	(3)	(3)
Net periodic pension benefit cost (credit)	11	12	23	24
Defined benefit plan, contributions by employer			20
U.S. Plans
Net Periodic Postretirement Benefit Cost (Credit)
Service cost	3	2	6	5
Interest cost	8	9	16	18
Expected return on plan assets	(13)	(14)	(26)	(29)
Amortization of net actuarial loss	$ 2	2	4	4
Net periodic pension benefit cost (credit)		$ (1)		$ (2)
Defined benefit plan, contributions by employer			$ 18

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Income Taxes
Income tax expense	$ (106)	$ (42)	$ (166)	$ (489)
Income tax benefit from change in the tax method of depreciating or amortizing certain assets			29
Income tax benefit related to pre-separation tax matters and termination of the tax sharing agreement		31		31
Goodwill impairment		900		900
Goodwill impairment tax benefit		$ 4
Income tax expense related to tax impacts of Swiss Tax Reform				$ (355)
Unrecognized income tax benefits, approximate amount that could be resolved in next twelve months	$ 110		$ 110

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Earnings (Loss) Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Earnings (Loss) Per Share
Basic (in shares)	331	334	331	334
Dilutive impact of share-based compensation arrangements (in shares)	3		2
Diluted (in shares)	334	334	333	334
Share options
Antidilutive shares excluded from computation of earnings per share
Antidilutive share options		3		3
Nonvested share awards and options, antidilutive due to loss in period
Antidilutive shares excluded from computation of earnings per share
Antidilutive share options		1		2

Shareholders' Equity (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2021 installment $ / shares shares	Mar. 26, 2021 USD ($) $ / shares	Mar. 27, 2020 USD ($) $ / shares	Mar. 26, 2021 USD ($) $ / shares shares	Mar. 27, 2020 USD ($) $ / shares shares	Sep. 25, 2020 USD ($)
Shareholders' Equity
Cancellation of treasury shares (in shares) \| shares	3
Dividends paid per common share \| $ / shares		$ 0.48	$ 0.46	$ 0.96	$ 0.92
Dividend or cash distribution approved (in currency per share) \| $ / shares	$ 2.00
Number of quarterly dividend installments \| installment	4
Cash distribution quarterly installment payable (in dollars per share) \| $ / shares	$ 0.50
Unpaid portion of the dividend payment recorded in accrued and other current liabilities \| $		$ 661		$ 661		$ 317
Number of common shares repurchased \| shares				3	5
Repurchase value \| $		182	$ 280	$ 309	$ 423
Amount available for repurchase, at end of period \| $		$ 686		$ 686

Share Plans (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Mar. 26, 2021	Dec. 25, 2020	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Share Based Compensation Arrangements:
Share-based compensation expense	$ 30		$ 15	$ 49	$ 37
Shares available for issuance	13.0			13.0
Share Based Compensation Expenses Not Recognized
Share-based compensation, share-based awards, total compensation expense not yet recognized	$ 151			$ 151
Share-based compensation, share-based awards, total compensation expense not yet recognized, expected period for recognition	2 years
Share options
Share Based Compensation Arrangements:
Share options granted		1.3
Options granted, grant-date fair value (in dollars per share)		$ 22.03
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology
Expected share price volatility (as a percent)		28.00%
Risk-free interest rate (as a percent)		0.50%
Expected annual dividend per share		$ 1.92
Expected life of options (in years)		5 years 4 months 24 days
Restricted share awards
Share Based Compensation Arrangements:
Shares granted		0.4
Shares granted, grant-date fair value (in dollars per share)		$ 105.86
Performance share awards
Share Based Compensation Arrangements:
Shares granted		0.2
Shares granted, grant-date fair value (in dollars per share)		$ 105.86

Segment and Geographic Data - Net Sales by Segment and Industry End Market (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Segment and Geographic Data
Net sales	$ 3,738	$ 3,195	$ 7,260	$ 6,363
Transportation Solutions
Segment and Geographic Data
Net sales	2,287	1,857	4,511	3,725
Transportation Solutions \| Automotive
Segment and Geographic Data
Net sales	1,630	1,365	3,259	2,770
Transportation Solutions \| Commercial transportation
Segment and Geographic Data
Net sales	382	294	713	552
Transportation Solutions \| Sensors
Segment and Geographic Data
Net sales	275	198	539	403
Industrial Solutions
Segment and Geographic Data
Net sales	952	962	1,825	1,889
Industrial Solutions \| Aerospace, defense, oil, and gas
Segment and Geographic Data
Net sales	267	318	517	627
Industrial Solutions \| Industrial equipment
Segment and Geographic Data
Net sales	339	280	634	543
Industrial Solutions \| Medical
Segment and Geographic Data
Net sales	161	186	317	365
Industrial Solutions \| Energy
Segment and Geographic Data
Net sales	185	178	357	354
Communications Solutions
Segment and Geographic Data
Net sales	499	376	924	749
Communications Solutions \| Data and devices
Segment and Geographic Data
Net sales	278	218	512	437
Communications Solutions \| Appliances
Segment and Geographic Data
Net sales	$ 221	$ 158	$ 412	$ 312

Segment and Geographic Data - Net Sales by Geographic Region and Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Segment and Geographic Data
Net sales	$ 3,738	$ 3,195	$ 7,260	$ 6,363
Transportation Solutions
Segment and Geographic Data
Net sales	2,287	1,857	4,511	3,725
Industrial Solutions
Segment and Geographic Data
Net sales	952	962	1,825	1,889
Communications Solutions
Segment and Geographic Data
Net sales	499	376	924	749
Asia-Pacific
Segment and Geographic Data
Net sales	1,336	991	2,629	2,104
Asia-Pacific \| Transportation Solutions
Segment and Geographic Data
Net sales	875	631	1,751	1,373
Asia-Pacific \| Industrial Solutions
Segment and Geographic Data
Net sales	171	138	334	283
Asia-Pacific \| Communications Solutions
Segment and Geographic Data
Net sales	290	222	544	448
Europe/Middle East/Africa
Segment and Geographic Data
Net sales	1,390	1,188	2,706	2,285
Europe/Middle East/Africa \| Transportation Solutions
Segment and Geographic Data
Net sales	922	766	1,816	1,468
Europe/Middle East/Africa \| Industrial Solutions
Segment and Geographic Data
Net sales	393	361	751	701
Europe/Middle East/Africa \| Communications Solutions
Segment and Geographic Data
Net sales	75	61	139	116
Americas
Segment and Geographic Data
Net sales	1,012	1,016	1,925	1,974
Americas \| Transportation Solutions
Segment and Geographic Data
Net sales	490	460	944	884
Americas \| Industrial Solutions
Segment and Geographic Data
Net sales	388	463	740	905
Americas \| Communications Solutions
Segment and Geographic Data
Net sales	$ 134	$ 93	$ 241	$ 185

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Segment and Geographic Data - Operating Income (Loss) by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Segment and Geographic Data
Operating income (loss)	$ 612	$ (415)	$ 1,060	$ 56
Impairment of goodwill		900		900
Transportation Solutions
Segment and Geographic Data
Operating income (loss)	398	(606)	706	(290)
Impairment of goodwill		900		900
Industrial Solutions
Segment and Geographic Data
Operating income (loss)	111	142	187	257
Communications Solutions
Segment and Geographic Data
Operating income (loss)	$ 103	$ 49	$ 167	$ 89