SENSATA TECHNOLOGIES HOLDING PLC, 10-Q filed on 5/8/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2025
Apr. 25, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 001-34652  
Entity Registrant Name SENSATA TECHNOLOGIES HOLDING PLC  
Entity Incorporation, State or Country Code X0  
Entity Tax Identification Number 98-1386780  
Entity Address, Address Line One 529 Pleasant Street  
Entity Address, City or Town Attleboro  
Entity Address, State or Province MA  
Entity Address, Postal Zip Code 02703  
Entity Address, Country US  
City Area Code 508  
Local Phone Number 236 3800  
Title of 12(b) Security Ordinary Shares - nominal value €0.01 per share  
Trading Symbol ST  
Security Exchange Name NYSE  
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 (in shares)   146,290,196
Entity Central Index Key 0001477294  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 588,139 $ 593,670
Accounts receivable, net of allowances of $20,271 and $20,524 as of March 31, 2025 and December 31, 2024, respectively 695,193 660,180
Inventories 661,080 614,455
Prepaid expenses and other current assets 153,815 158,934
Total current assets 2,098,227 2,027,239
Property, plant and equipment, net 812,284 821,653
Goodwill 3,383,812 3,383,800
Other intangible assets, net of accumulated amortization of $2,581,634 and $2,561,335 as of March 31, 2025 and December 31, 2024, respectively 476,032 492,878
Deferred income tax assets 292,334 288,189
Other assets 114,449 129,505
Total assets 7,177,138 7,143,264
Current liabilities:    
Current portion of long-term debt and finance lease obligations 2,130 2,414
Accounts payable 480,424 362,186
Income taxes payable 36,358 29,417
Accrued expenses and other current liabilities 274,682 317,341
Total current liabilities 793,594 711,358
Deferred income tax liabilities 231,120 235,689
Pension and other post-retirement benefit obligations 28,733 27,910
Finance lease obligations, less current portion 20,627 20,984
Long-term debt, net 3,177,278 3,176,098
Other long-term liabilities 77,152 80,782
Total liabilities 4,328,504 4,252,821
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Ordinary shares, €0.01 nominal value per share, 177,069 shares authorized, and 176,548 and 176,541 shares issued as of March 31, 2025 and December 31, 2024, respectively 2,257 2,257
Treasury shares, at cost, 30,529 and 26,994 shares as of March 31, 2025 and December 31, 2024, respectively (1,382,551) (1,282,051)
Additional paid-in capital 1,879,428 1,872,577
Retained earnings 2,392,160 2,340,203
Accumulated other comprehensive loss (42,660) (42,543)
Total shareholders' equity 2,848,634 2,890,443
Total liabilities and shareholders' equity $ 7,177,138 $ 7,143,264
v3.25.1
Condensed Consolidated Balance Sheets (Parenthetical)
$ in Thousands
Mar. 31, 2025
USD ($)
shares
Mar. 31, 2025
€ / shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2024
€ / shares
Statement of Financial Position [Abstract]        
Accounts receivable, net of allowances | $ $ 20,271   $ 20,524  
Accumulated amortization | $ $ 2,581,634   $ 2,561,335  
Ordinary shares, nominal value per share (in euros per share) | € / shares   € 0.01   € 0.01
Ordinary shares authorized (in shares) 177,069,000   177,069,000  
Ordinary shares issued (in shares) 176,548,000   176,541,000  
Treasury shares (in shares) 30,529,000   26,994,000  
v3.25.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Net revenue $ 911,255 $ 1,006,709
Operating costs and expenses:    
Cost of revenue 638,667 689,260
Research and development 36,809 45,314
Selling, general and administrative 86,026 88,046
Amortization of intangible assets 20,577 38,515
Restructuring and other charges, net 6,980 782
Total operating costs and expenses 789,059 861,917
Operating income 122,196 144,792
Interest expense (37,973) (38,395)
Interest income 4,290 3,738
Other, net 2,128 (11,544)
Income before taxes 90,641 98,591
Provision for income taxes 20,722 22,570
Net income $ 69,919 $ 76,021
Basic net income per share (in dollars per share) $ 0.47 $ 0.51
Diluted net income per share (in dollars per share) $ 0.47 $ 0.50
v3.25.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 69,919 $ 76,021
Other comprehensive loss, net of tax:    
Cash flow hedges (4,535) 9,242
Defined benefit and retiree healthcare plans 494 227
Currency translation adjustment 3,924 (14,721)
Comprehensive income (117) (5,252)
Comprehensive income $ 69,802 $ 70,769
v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 69,919 $ 76,021
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 40,962 33,523
Amortization of debt issuance costs 1,180 1,562
Loss on sale of business 3,916 0
Share-based compensation 6,851 8,133
Amortization of intangible assets 20,577 38,515
Deferred income taxes (6,647) 2,574
Loss on equity investments, net 0 13,287
Other non-cash gain/(loss), net 5,175 (4,184)
Changes in operating assets and liabilities, net of the effects of divestitures:    
Accounts receivable, net (34,101) (19,156)
Inventories (47,986) (8,677)
Prepaid expenses and other current assets (8,512) (8,920)
Accounts payable and accrued expenses 64,832 (29,447)
Income taxes payable 2,602 1,809
Other 431 1,447
Net cash provided by operating activities 119,199 106,487
Cash flows from investing activities:    
Additions to property, plant and equipment and capitalized software (32,575) (42,130)
Proceeds from the sale of business, net of cash sold 25,635 0
Other 66 0
Net cash used in investing activities (6,874) (42,130)
Cash flows from financing activities:    
Payment of employee restricted stock tax withholdings (61) (129)
Payments on debt (685) (279)
Dividends paid (17,901) (18,056)
Payments to repurchase ordinary shares (100,500) (10,052)
Purchase of noncontrolling interest in joint venture 0 (79,393)
Payments of debt financing costs 0 (39)
Net cash used in financing activities (119,147) (107,948)
Effect of exchange rate changes on cash and cash equivalents 1,291 (4,154)
Net change in cash and cash equivalents (5,531) (47,745)
Cash and cash equivalents, beginning of year 593,670 508,104
Cash and cash equivalents, end of period $ 588,139 $ 460,359
v3.25.1
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
Ordinary Shares
Treasury Shares
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive (Loss)/ Income
Ordinary shares, beginning balance (in shares) at Dec. 31, 2023   175,832,000        
Beginning balance at Dec. 31, 2023 $ 2,996,276 $ 2,249 $ (1,213,160) $ 1,901,621 $ 2,295,604 $ 9,962
Treasury shares, beginning balance (in shares) at Dec. 31, 2023     (25,090,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Surrender of shares for tax withholding (in shares)     (3,000)      
Surrender of shares for tax withholding (129)   $ (129)      
Vesting of restricted securities (in shares)   10,000        
Cash dividends paid (18,056)       (18,056)  
Repurchase of ordinary shares (in shares)     (275,000)      
Repurchase of ordinary shares (10,052)   $ (10,052)      
Retirement of ordinary shares (in shares)   (3,000) (3,000)      
Retirement of ordinary shares 0   $ 129   (129)  
Share-based compensation 8,133     8,133    
Purchase of noncontrolling interest in joint venture (72,107)     (72,107)    
Net income 76,021       76,021  
Other comprehensive income (loss) (5,252)         (5,252)
Ordinary shares, ending balance (in shares) at Mar. 31, 2024   175,839,000        
Ending balance at Mar. 31, 2024 $ 2,974,834 $ 2,249 $ (1,223,212) 1,837,647 2,353,440 4,710
Treasury shares, ending balance (in shares) at Mar. 31, 2024     (25,365,000)      
Ordinary shares, beginning balance (in shares) at Dec. 31, 2024 176,541,000 176,541,000        
Beginning balance at Dec. 31, 2024 $ 2,890,443 $ 2,257 $ (1,282,051) 1,872,577 2,340,203 (42,543)
Treasury shares, beginning balance (in shares) at Dec. 31, 2024 (26,994,000)   (26,994,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Surrender of shares for tax withholding (in shares)     (2,000)      
Surrender of shares for tax withholding $ (61)   $ (61)      
Vesting of restricted securities (in shares)   9,000        
Vesting of restricted securities 0 $ 0     0  
Cash dividends paid (17,901)       (17,901)  
Repurchase of ordinary shares (in shares)     (3,535,000)      
Repurchase of ordinary shares (100,500)   $ (100,500)      
Retirement of ordinary shares (in shares)   (2,000) (2,000)      
Retirement of ordinary shares 0 $ 0 $ 61   (61)  
Share-based compensation 6,851     6,851    
Net income 69,919       69,919  
Other comprehensive income (loss) $ (117)         (117)
Ordinary shares, ending balance (in shares) at Mar. 31, 2025 176,548,000 176,548,000        
Ending balance at Mar. 31, 2025 $ 2,848,634 $ 2,257 $ (1,382,551) $ 1,879,428 $ 2,392,160 $ (42,660)
Treasury shares, ending balance (in shares) at Mar. 31, 2025 (30,529,000)   (30,529,000)      
v3.25.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation
The accompanying unaudited condensed consolidated financial statements reflect the financial position, results of operations, comprehensive income, cash flows, and changes in shareholders' equity of Sensata Technologies Holding plc, a public limited company incorporated under the laws of England and Wales, and its consolidated subsidiaries, collectively referred to as the "Company," "Sensata," "we," "our," or "us."
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q. Accordingly, these interim financial statements do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The accompanying interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the interim period results. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 28, 2025 (the "2024 Annual Report").
We present financial information for two reportable segments, Performance Sensing ("PS") and Sensing Solutions ("SS"). Additionally, our business strategy involves leveraging new and emerging technologies, which complement our existing product offerings, and we refer to these trends collectively as “megatrends.” Our operating segments’ performance is primarily evaluated based on segment operating income. In the three months ended March 31, 2025, we realigned the definition of segment operating income to include megatrend costs, which were previously excluded from segment operating income and included in corporate and other costs. Prior year amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment and to conform to current year presentation. Refer to Note 15: Segment Reporting for additional information.
All U.S. dollar ("USD") and share amounts presented, except per share amounts, are stated in thousands, unless otherwise indicated. Certain prior period amounts have been recast to conform to current year presentation.
v3.25.1
New Accounting Standards
 3 Months Ended
Mar. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Standards New Accounting Standards
In December 2023, the FASB issued Accounting Standards Update ("ASU") No. 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosures, which requires (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) disclosure of income taxes paid disaggregated by jurisdiction. ASU No. 2023-09 also includes certain other updates to improve the effectiveness of income tax disclosures. ASU No. 2023-09 is effective for annual periods beginning after December 15, 2024, and should be applied prospectively, with retrospective application also a permitted option. The Company is currently evaluating the impact that the adoption of ASU No. 2023-09 will have on its consolidated financial statements and disclosures.
In November 2024, the FASB issued ASU No. 2024-03 Income Statement (Topic 220): Reporting Comprehensive Income, which requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU No. 2024-03 does not change or remove current expense presentation requirements within the Consolidated Statements of Operations. However, the update requires disclosure, on an annual and interim basis, of disaggregated information about certain income statement expense line items within the notes to the consolidated financial statements. ASU No. 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that the adoption of ASU No. 2024-03 will have on its consolidated financial statements and disclosures.
v3.25.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The following table presents net revenue disaggregated by end market for the three months ended March 31, 2025 and 2024:
For the three months ended March 31, 2025
For the three months ended March 31, 2024
PSSSOtherTotalPSSSOtherTotal
Automotive $500,954 $30,506 $— $531,460 $530,624 $32,408 $— $563,032 
HVOR 149,462 5,602 — 155,064 182,694 6,858 — 189,552 
Industrial— 138,568 — 138,568 — 134,349 — 134,349 
HVAC — 38,914 — 38,914 — 38,071 — 38,071 
Aerospace— 47,249 — 47,249 — 46,153 — 46,153 
Other — — — — — — 35,552 35,552 
Total$650,416 $260,839 $— $911,255 $713,318 $257,839 $35,552 $1,006,709 
v3.25.1
Share-Based Payment Plans
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Plans Share-Based Payment Plans
The following table presents the components of non-cash compensation expense related to our equity awards for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Restricted securities 6,851 8,133 
Share-based compensation expense$6,851 $8,133 
Equity Awards
We granted the following restricted stock units ("RSUs" and each, an "RSU") during the three months ended March 31, 2025:
Awards Granted To:Type of AwardNumber of Units Granted (in thousands)Weighted Average Grant Date Fair Value
Various executives and employees
RSU (1)
128$27.39 
____________________________________
(1)    These RSUs vest ratably over three years, one-third per year beginning on the first anniversary of the grant date. These RSUs will fully vest on various dates between January 2028 and February 2028.
v3.25.1
Restructuring and Other Charges, Net
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges, Net Restructuring and Other Charges, Net
2H 2024 Plan
In the year ended December 31, 2024, we committed to a plan to reorganize our business (the “2H 2024 Plan”). The 2H 2024 Plan, consisting of involuntary reductions-in-force, site closures, and other cost-savings initiatives, was commenced to adjust our cost structure and business activities to better align with weaker market demand and continued economic uncertainty in many of our end markets and to take active measures to accelerate our margin recovery.
The reductions-in-force, which are subject to the laws and regulations of the countries in which the actions were executed or planned, are expected to impact approximately 240 positions. Over the life of the 2H 2024 Plan, we expect to incur restructuring charges of between $14.2 million and $16.0 million, primarily related to reductions-in-force. The majority of the actions under the 2H 2024 Plan are expected to be completed on or before December 31, 2025. We expect to settle these charges with cash on hand.
Q3 2023 Plan
In the year ended December 31, 2023, we committed to a plan to reorganize our business (the “Q3 2023 Plan”). The Q3 2023 Plan, consisting of voluntary and involuntary reductions-in-force, site closures, and other cost-savings initiatives, was commenced to adjust our cost structure and business activities.
The reductions-in-force, which are subject to the laws and regulations of the countries in which the actions were executed or planned, impacted 505 positions. Over the life of the Q3 2023 Plan, we expect to incur restructuring charges of between $24.8 million and $25.8 million, primarily related to reductions-in-force. The majority of the actions under the Q3 2023 Plan are expected to be completed on or before December 31, 2025. We expect to settle these charges with cash on hand.
Summary
The following table presents the components of restructuring and other charges, net for the three months ended March 31, 2025, and 2024:
For the three months ended
March 31, 2025March 31, 2024
2H 2024 Plan, net
$2,454 $— 
Q3 2023 Plan, net
918 598 
Other restructuring and other charges, net
Severance charges, net
(80)(9)
Facility and other exit costs— 168 
Loss on sale of business
4,420 — 
Acquisition-related compensation arrangements (1)
— 955 
Other
(732)(930)
Restructuring and other charges, net$6,980 $782 
___________________________________
(1)    Acquisition-related compensation arrangements consist of incentive compensation to previous owners of companies we have acquired. Payment is generally tied to technical and/or financial targets set at the time of acquisition.
The following table presents a rollforward of our severance liability, which is primarily related to the 2H 2024 Plan, for the three months ended March 31, 2025:
Total
Balance as of December 31, 20246,087 
Charges, net of reversals553 
Payments(2,142)
Foreign currency remeasurement71 
Balance as of March 31, 2025$4,569 
The severance liability as of March 31, 2025 and December 31, 2024 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets.
v3.25.1
Other, Net
 3 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
Other, Net Other, Net
The following table presents the components of other, net for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Currency remeasurement (loss)/gain on net monetary assets$(459)$1,031 
(Loss)/gain on foreign currency forward contracts(1,576)680 
Gain on commodity forward contracts4,419 1,099 
Gain/(loss) on equity investments, net (1)
15 (13,287)
Net periodic benefit cost, excluding service cost(527)(841)
Other256 (226)
Other, net$2,128 $(11,544)
___________________________________
(1)    The three months ended March 31, 2024 primarily includes a loss on an equity investment that does not have a readily determinable fair value for which we use the measurement alternative prescribed in FASB ASC Topic 321, Investments—Equity Securities. Refer to Note 13: Fair Value Measures for additional information.
v3.25.1
Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table presents the provision for income taxes for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Provision for income taxes$20,722 $22,570 
The provision for income taxes consists of (1) current tax expense, which relates primarily to our profitable operations in tax jurisdictions with limited or no net operating loss carryforwards and withholding taxes related to management fees, royalties, and the repatriation of foreign earnings; and (2) deferred tax expense (or benefit), which represents adjustments in book-to-tax basis differences primarily related to (a) book versus tax basis in intangible assets, (b) changes in net operating loss carryforwards and tax credits, and (c) changes in withholding taxes on unremitted earnings.
v3.25.1
Net Income per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
Basic and diluted net income per share are calculated by dividing net income by the number of basic and diluted weighted-average ordinary shares outstanding during the period. For the three months ended March 31, 2025 and 2024 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows:
 For the three months ended
March 31, 2025March 31, 2024
Basic weighted-average ordinary shares outstanding148,498 150,480 
Dilutive effect of unvested restricted securities318 441 
Diluted weighted-average ordinary shares outstanding148,816 150,921 
Net income and net income per share are presented in the condensed consolidated statements of operations.
Certain potential ordinary shares were excluded from our calculation of diluted weighted-average ordinary shares outstanding because either they would have had an anti-dilutive effect on net income per share or they related to equity awards that were contingently issuable for which the contingency had not been satisfied. These potential ordinary shares were as follows:
For the three months ended
March 31, 2025March 31, 2024
Anti-dilutive shares excluded1,137 1,763 
Contingently issuable shares excluded694 1,060 
v3.25.1
Inventories
 3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
The following table presents the components of inventories as of March 31, 2025 and December 31, 2024:
March 31,
2025		December 31,
2024
Finished goods$202,396 $193,167 
Work-in-process149,336 134,423 
Raw materials309,348 286,865 
Inventories$661,080 $614,455 
v3.25.1
Debt
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
The following table presents the components of long-term debt, net and finance lease obligations as of March 31, 2025 and December 31, 2024:
Maturity DateMarch 31,
2025		December 31,
2024
4.0% Senior Notes
April 15, 20291,000,000 1,000,000 
4.375% Senior Notes
February 15, 2030450,000 450,000 
5.875% Senior Notes
September 1, 2030500,000 500,000 
3.75% Senior Notes
February 15, 2031750,000 750,000 
6.625% Senior Notes
July 15, 2032500,000 500,000 
Plus: debt premium, net of discount (less: debt discount, net of premium)939 997 
Less: deferred financing costs(23,661)(24,899)
Long-term debt, net$3,177,278 $3,176,098 
Finance lease obligations$22,757 $23,398 
Less: current portion(2,130)(2,414)
Finance lease obligations, less current portion$20,627 $20,984 
Our indebtedness as of March 31, 2025 and December 31, 2024 consists of various tranches of senior unsecured notes as shown in the table above. We also have secured credit facilities (the "Senior Secured Credit Facilities") which provide for our $750.0 million revolving credit facility (the "Revolving Credit Facility") and incremental availability under which additional debt can be issued. Refer to Note 14: Debt of our 2024 Annual Report for additional information related to our indebtedness.
Revolving Credit Facility
As of March 31, 2025, we had $745.8 million available under the Revolving Credit Facility, net of $4.2 million of obligations in respect of outstanding letters of credit issued thereunder. Outstanding letters of credit are issued primarily for the benefit of certain operating activities. As of March 31, 2025, no amounts had been drawn against these outstanding letters of credit.
Accrued Interest
Accrued interest associated with our outstanding debt is included as a component of accrued expenses and other current liabilities in the condensed consolidated balance sheets. As of March 31, 2025 and December 31, 2024, accrued interest totaled $34.1 million and $55.2 million, respectively.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
We are regularly involved in a number of claims and litigation matters that arise in the ordinary course of business. Although it is not feasible to predict the outcome of these matters, based upon our experience and current information known to us, we do not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on our results of operations, financial condition, and/or cash flows.
v3.25.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Purchase of noncontrolling interest in joint venture
In February 2024, we purchased the remaining 50% interest in our joint venture with Dongguan Churod Electronics Co., Ltd. for approximately $79.4 million. Prior to the transaction, we had been consolidating the joint venture. The purchase of the 50% non-controlling interest was accounted for as an equity transaction. No gain or loss was recognized in the condensed consolidated statements of operations. The difference between the fair value of the consideration paid and the amount by which the non-controlling interest was adjusted was recognized as a reduction of additional paid in capital recorded in equity.
Cash Dividends
In the three months ended March 31, 2025 and 2024, we paid aggregate cash dividends of $17.9 million and $18.1 million, respectively. On April 21, 2025, we announced that our Board of Directors approved a quarterly dividend of $0.12 per share, payable on May 28, 2025 to shareholders of record as of May 14, 2025.
Treasury Shares
From time to time, our Board of Directors has authorized various share repurchase programs, which may be modified or terminated by the Board at any time. Under these programs, we may repurchase ordinary shares at such times and in amounts to be determined by our management, based on market conditions, legal requirements, and other corporate considerations, on the open market or in privately negotiated transactions, provided that such transactions were completed pursuant to an agreement and with a third party approved by our shareholders at the annual general meeting. Ordinary shares repurchased by us are recognized, measured at cost, and presented as treasury shares on our consolidated balance sheets, resulting in a reduction of shareholders' equity. In September 2023, our Board of Directors authorized a new $500.0 million ordinary share repurchase program (the “September 2023 Program”), which became effective on October 1, 2023.
In the three months ended March 31, 2025 and 2024, we repurchased 3.5 million and 0.3 million ordinary shares, respectively, for $100.5 million and $10.1 million, respectively. All share repurchases in the three months ended March 31, 2025 and 2024 were made under the September 2023 Program. As of March 31, 2025, $302.5 million remained available for repurchase under the September 2023 Program.
Accumulated Other Comprehensive Loss
The following table presents the components of accumulated other comprehensive loss for the three months ended March 31, 2025:
Cash Flow HedgesDefined Benefit and Retiree Healthcare PlansCumulative Translation AdjustmentAccumulated Other Comprehensive Loss
Balance as of December 31, 2024$(7,913)$(11,690)$(22,940)$(42,543)
Other comprehensive (loss)/income before reclassifications, net of tax(3,115)— 3,924 809 
Reclassifications from accumulated other comprehensive loss, net of tax(1,420)494 — (926)
Other comprehensive (loss)/income(4,535)494 3,924 (117)
Balance as of March 31, 2025$(12,448)$(11,196)$(19,016)$(42,660)
The following table presents the amounts reclassified from accumulated other comprehensive loss for the three months ended March 31, 2025 and 2024:
For the three months ended March 31, Affected Line in Condensed Consolidated Statements of Operations
Component20252024
Derivative instruments designated and qualifying as cash flow hedges:
Foreign currency forward contracts $(5,027)$(108)
Net revenue (1)
Foreign currency forward contracts 3,114 (7,354)
Cost of revenue (1)
Total, before taxes(1,913)(7,462)Income before taxes
Income tax effect493 1,925 Provision for income taxes
Total, net of taxes$(1,420)$(5,537)Net income
Defined benefit and retiree healthcare plans
Defined benefit and retiree healthcare plans$(9)$296 Other, net
Defined benefit and retiree healthcare plans721 — Restructuring and other charges, net
Total, before taxes712 296 Income before taxes
Income tax effect(218)(69)Provision for income taxes
Total, net of taxes$494 $227 Net income
___________________________________
(1)    Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding amounts to be reclassified from accumulated other comprehensive loss in future periods.
v3.25.1
Fair Value Measures
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measures Fair Value Measures
Measured on a Recurring Basis
The fair values of our assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024 are shown in the below table.
 March 31,
2025		December 31,
2024
Assets
Cash equivalents (Level 1)$333,484 $243,640 
Foreign currency forward contracts (Level 2)6,544 19,110 
Commodity forward contracts (Level 2)3,803 1,486 
Total$343,831 $264,236 
Liabilities
Foreign currency forward contracts (Level 2)$19,714 $27,648 
Commodity forward contracts (Level 2)256 1,262 
Total$19,970 $28,910 
Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding our forward contracts. Cash equivalents consist of U.S. Government Treasury money market funds and are classified as Level 1 as they are exchange traded in an active market.
Financial Instruments Not Recorded at Fair Value
The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024. All fair value measures presented are categorized in Level 2 of the fair value hierarchy.
 March 31, 2025December 31, 2024
 
Carrying Value(1)
Fair Value
Carrying Value(1)
Fair Value
Liabilities
4.0% Senior Notes
$1,000,000 $915,000 $1,000,000 $915,000 
4.375% Senior Notes
$450,000 $412,875 $450,000 $410,625 
5.875% Senior Notes
$500,000 $483,750 $500,000 $485,000 
3.75% Senior Notes
$750,000 $652,500 $750,000 $652,500 
6.625% Senior Notes
$500,000 $495,625 $500,000 $497,500 
___________________________________
(1)    Excluding any related debt discounts, premiums, and deferred financing costs.
In addition to the above, we hold certain equity investments that do not have readily determinable fair values for which we use the measurement alternative prescribed in FASB ASC Topic 321. Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. As of March 31, 2025 and December 31, 2024, we held equity investments under the measurement alternative of $7.2 million and $6.1 million, respectively, which are presented in other assets in the condensed consolidated balance sheets. In the three months ended March 31, 2024, we adjusted the carrying value of one of these equity investments as a result of an observable price change, resulting in a loss of $14.8 million.
v3.25.1
Derivative Instruments and Hedging Activities
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities
Foreign Currency Derivatives
As of March 31, 2025, we had the following outstanding foreign currency forward contracts, which had the below hedge accounting designation in accordance with FASB ASC Topic 815, Derivatives and Hedging:
Notional
(in millions)		Effective Date(s)Maturity Date(s)Index (Exchange Rates)Weighted-Average Strike Rate
Hedge
Designation (1)
354.8 EURVarious from April 2023 to March 2025Various from April 2025 to March 2027Euro ("EUR") to USD1.10 USDCash flow hedge
3,662.9 MXNVarious from April 2023 to March 2025Various from April 2025 to March 2027USD to Mexican Peso ("MXN")19.90 MXNCash flow hedge
59.0 GBPVarious from April 2023 to March 2025Various from April 2025 to March 2027British Pound Sterling ("GBP") to USD1.27 USDCash flow hedge
Notional
(in millions)		Effective Date(s)Maturity Date(s)Index (Exchange Rates)Weighted-Average Strike Rate
Hedge
Designation (1)
53.5 EURMarch 27, 2025April 30, 2025EUR to USD1.08 USDNot designated
426.0 CNYMarch 26, 2025April 30, 2025USD to Chinese Renminbi ("CNY")7.15 CNYNot designated
199.3 USDVarious from March 2024 to May 2024Various from April 2025 to May 2026USD to CNY6.99 CNYNot designated
1,393.8 CNYVarious September 2024Various from April 2025 to May 2026USD to CNY6.82 CNYNot designated
39,416.5 KRWVarious from May 2023 to September 2024Various from April 2025 to July 2026USD to Korean Won ("KRW")1,312.27 KRWNot designated
181.0 MXNMarch 27, 2025April 30, 2025USD to MXN20.45 MXNNot designated
3.1 GBPMarch 27, 2025April 30, 2025GBP to USD1.29 USDNot designated
___________________________________
(1)    Derivative financial instruments not designated as hedges are used to manage our exposure to currency exchange rate risk. They are intended to preserve economic value, and they are not used for trading or speculative purposes.
As of March 31, 2025, we estimate that $12.1 million of net losses will be reclassified from accumulated other comprehensive loss to earnings during the twelve-month period ending March 31, 2026.
Commodity Risk Derivatives
As of March 31, 2025, we had the following outstanding commodity forward contracts, none of which were designated for hedge accounting treatment:
CommodityNotionalRemaining Contracted PeriodsWeighted-Average Strike Price Per Unit
Silver634,228 troy oz.April 2025 to February 2027$29.66
Copper5,028,817 poundsApril 2025 to February 2027$4.25
Financial Instrument Presentation
The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024:
 Asset DerivativesLiability Derivatives
 Balance Sheet LocationMarch 31,
2025		December 31,
2024		Balance Sheet LocationMarch 31,
2025		December 31,
2024
Derivatives designated as hedging instruments
Foreign currency forward contractsPrepaid expenses and other current assets$5,590 $15,717 Accrued expenses and other current liabilities$11,802 $17,018 
Foreign currency forward contractsOther assets938 2,936 Other long-term liabilities2,521 4,042 
Total$6,528 $18,653 $14,323 $21,060 
Derivatives not designated as hedging instruments
Commodity forward contractsPrepaid expenses and other current assets$3,226 $1,413 Accrued expenses and other current liabilities$220 $902 
Commodity forward contractsOther assets577 73 Other long-term liabilities36 360 
Foreign currency forward contractsPrepaid expenses and other current assets4,853 457 Accrued expenses and other current liabilities9,487 4,828 
Foreign currency forward contractsOther assets393 — Other long-term liabilities1,135 1,760 
Total$9,049 $1,943 $10,878 $7,850 
These fair value measurements were all categorized within Level 2 of the fair value hierarchy.
The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the three months ended March 31, 2025 and 2024:
Derivatives designated as
hedging instruments		Amount of Deferred (Loss)/Gain Recognized in Other Comprehensive LossLocation of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net IncomeAmount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income
2025202420252024
Foreign currency forward contracts$(11,724)$10,965 Net revenue$5,027 $108 
Foreign currency forward contracts$7,526 $8,952 Cost of revenue$(3,114)$7,354 
Derivatives not designated as
hedging instruments		Amount of Gain/(Loss) Recognized in Net IncomeLocation of Gain/(Loss) Recognized in Net Income
20252024
Commodity forward contracts$4,419 $1,099 Other, net
Foreign currency forward contracts$(1,576)$680 Other, net
Credit Risk Related Contingent Features
We have agreements with our derivative counterparties that contain a provision whereby if we default on our indebtedness and repayment of the indebtedness has been accelerated by the lender, then we could also be declared in default on our derivative obligations.
As of March 31, 2025, the termination value of outstanding derivatives in a liability position, excluding any adjustment for non-performance risk, was $25.3 million. As of March 31, 2025, we had not posted any cash collateral related to these agreements. If we breach any of the default provisions on any of our indebtedness as described above, we could be required to settle our obligations under the derivative agreements at their termination values.
v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We present financial information for two reportable segments, Performance Sensing and Sensing Solutions. In the three months ended March 31, 2025, we realigned the definition of segment operating income to include megatrend costs, which were
previously excluded from segment operating income and included in corporate and other costs. Refer to Note 1: Basis of Presentation for additional information.
Our operating segments are businesses that we manage as components of an enterprise, for which separate financial information is evaluated regularly by our chief operating decision maker ("CODM"), who is our chief executive officer, in deciding how to allocate resources and assess performance.
An operating segment’s performance is primarily evaluated based on segment operating income, which excludes amortization of intangible assets, impairment of goodwill and other intangible assets, restructuring charges, and certain corporate costs or credits not associated with the operations of the segment, such as share-based compensation expense. Corporate and other costs excluded from an operating (and reportable) segment’s performance are separately stated below and also include costs that are related to functional areas such as finance, information technology, legal, and human resources. The CODM uses operating income primarily in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis for operating income when making decisions about the allocation of operating and capital resources to each segment. Significant expenses are reviewed by the CODM on a consolidated basis and not at the operating segment level. We believe that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of our segments. However, this measure should be considered in addition to, and not as a substitute for, or superior to, operating income or other measures of financial performance prepared in accordance with U.S. GAAP. The accounting policies of each of our operating and reportable segments are materially consistent with those described in Note 2: Significant Accounting Policies of the audited consolidated financial statements and notes thereto included in our 2024 Annual Report.
The Performance Sensing segment serves the automotive and HVOR industries through the development and manufacture of sensors, high-voltage solutions (i.e., electrical protection components), and other solutions that are used in mission-critical systems and applications. Examples include those used in subsystems of automobiles, on-road trucks, and off-road equipment, such as tire pressure monitoring, thermal management, electrical protection, regenerative braking, powertrain (engine/transmission), and exhaust management. These products are used in subsystems that, among other things, improve operating performance and efficiency and contribute to environmentally sustainable and safe solutions.

The Sensing Solutions segment primarily serves the industrial and aerospace industries through the development and manufacture of a broad portfolio of application-specific sensor and electrical protection products used in a diverse range of industrial markets, including the appliance, HVAC, water management, operator controls, charging infrastructure, renewable energy generation, green hydrogen production, and microgrid applications and markets, as well as the aerospace market, including commercial aircraft, defense, and aftermarket markets.

Some of the products and solutions sold by the Sensing Solutions segment include pressure, temperature, and position sensors, motor and compressor protectors, high-voltage contactors, solid state relays, bimetal electromechanical controls, power inverters, charge controllers, battery management systems, operator controls, and power conversion systems. Sensing Solutions products perform many functions, including prevention of damage from excess heat or electrical current, optimization of system performance, low-power circuit control, renewable energy generation, and power conversion from direct current power to alternating current power.
The following table presents net revenue, segment and non-segment operating expenses, and segment and non-segment operating income for the reportable segments and other operating results not allocated to our reportable segments for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Net revenue:
Performance Sensing
$650,416 $713,318 
Sensing Solutions
260,839 257,839 
Other
— 35,552 
Total net revenue$911,255 $1,006,709 
Segment and non-segment operating expenses(1):
Performance Sensing$507,540 $544,350 
Sensing Solutions184,773 185,545 
Other— 28,771 
Total segment and non-segment operating expenses$692,313 $758,666 
Segment and non-segment operating income (as defined above):
Performance Sensing (1)
$142,876 $168,968 
Sensing Solutions (1)
76,066 72,294 
Other (1)
— 6,781 
Total segment and non-segment operating income
218,942 248,043 
Corporate and other(69,189)(63,954)
Amortization of intangible assets(20,577)(38,515)
Restructuring and other charges, net(6,980)(782)
Operating income122,196 144,792 
Interest expense(37,973)(38,395)
Interest income4,290 3,738 
Other, net2,128 (11,544)
Income before taxes$90,641 $98,591 
___________________________________
(1)    Other segment and non-segment expenses include associated cost of revenue, research and development, and selling, general and administrative expenses.
The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Depreciation and amortization:
Performance Sensing$24,982 $23,960 
Sensing Solutions3,890 4,124 
Corporate and other (1)
32,667 43,954 
Total depreciation and amortization$61,539 $72,038 
__________________________
(1)Included within corporate and other is amortization of intangible assets, accelerated depreciation recognized in connection with restructuring actions, and depreciation of certain assets. We do not allocate these amounts to our segments. This treatment is consistent with the financial information reviewed by our chief operating decision maker.
The following table presents additions to PP&E and capitalized software for our reportable segments and corporate and other for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Additions to property, plant and equipment and capitalized software:
Performance Sensing$23,050 $31,013 
Sensing Solutions3,063 3,263 
Corporate and other6,462 7,854 
Total additions to property, plant and equipment and capitalized software$32,575 $42,130 

Geographic Area Information
The following tables present net revenue by geographic area and by significant country for the three months ended March 31, 2025 and 2024. In these tables, net revenue is aggregated according to the location of our subsidiaries.
 For the three months ended
 March 31, 2025March 31, 2024
Net revenue:
Americas$372,450 $429,108 
Europe252,463 284,737 
Asia and rest of world286,342 292,864 
Net revenue$911,255 $1,006,709 
 For the three months ended
 March 31, 2025March 31, 2024
Net revenue:
United States$344,990 $395,400 
China174,594 179,408 
The Netherlands217,774 246,611 
United Kingdom26,921 28,899 
All other146,976 156,391 
Net revenue$911,255 $1,006,709 
The following tables present PP&E, net, by geographic area and by significant country as of March 31, 2025 and 2024. In these tables, PP&E, net is aggregated based on the location of our subsidiaries.
 March 31,
2025		December 31,
2024
Property, plant and equipment, net:
Americas$295,796 $301,900 
Europe141,133 141,396 
Asia and rest of world375,355 378,357 
Property, plant and equipment, net$812,284 $821,653 
 March 31,
2025		December 31,
2024
Property, plant and equipment, net:
United States$116,260 $121,783 
China259,293 266,104 
Mexico179,402 179,980 
Bulgaria104,725 108,093 
United Kingdom24,471 21,147 
Malaysia111,565 108,118 
All other16,568 16,428 
Property, plant and equipment, net$812,284 $821,653 
v3.25.1
Disposals
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Disposals Disposals
Insights Business
In August 2024, we executed a purchase agreement whereby we agreed to sell the Insights Business to an affiliate of Balmoral Funds ("the Buyer"). The closing of the transaction ("Closing") occurred in the third quarter of 2024, at which time net assets transferred to the Buyer.
Concurrent with the Closing, the parties entered into a Transition Services Agreement ("TSA") and a Supply Agreement. The terms of the TSA require that we provide various forms of commercial, operational, and back-office support to the Buyer. The Supply Agreement commenced at Closing and has a term of five years or less. The terms of this agreement require that we sell certain tire pressure monitoring system products to the Buyer over the term of the agreement.
For the three months ended March 31, 2024, the Insights Business was included in our Other segment.
Magnetic Speed and Position Business ("MSP Business")
In November 2024, we executed a purchase agreement whereby we agreed to sell the MSP Business to a third party. The closing of the transaction occurred in the first quarter of 2025, at which time net assets transferred to the Buyer.
v3.25.1
Subsequent Events
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net income (loss) $ 69,919 $ 76,021
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q. Accordingly, these interim financial statements do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The accompanying interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the interim period results. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 28, 2025 (the "2024 Annual Report").
We present financial information for two reportable segments, Performance Sensing ("PS") and Sensing Solutions ("SS"). Additionally, our business strategy involves leveraging new and emerging technologies, which complement our existing product offerings, and we refer to these trends collectively as “megatrends.” Our operating segments’ performance is primarily evaluated based on segment operating income. In the three months ended March 31, 2025, we realigned the definition of segment operating income to include megatrend costs, which were previously excluded from segment operating income and included in corporate and other costs. Prior year amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment and to conform to current year presentation. Refer to Note 15: Segment Reporting for additional information.
All U.S. dollar ("USD") and share amounts presented, except per share amounts, are stated in thousands, unless otherwise indicated. Certain prior period amounts have been recast to conform to current year presentation.
New Accounting Standards
In December 2023, the FASB issued Accounting Standards Update ("ASU") No. 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosures, which requires (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) disclosure of income taxes paid disaggregated by jurisdiction. ASU No. 2023-09 also includes certain other updates to improve the effectiveness of income tax disclosures. ASU No. 2023-09 is effective for annual periods beginning after December 15, 2024, and should be applied prospectively, with retrospective application also a permitted option. The Company is currently evaluating the impact that the adoption of ASU No. 2023-09 will have on its consolidated financial statements and disclosures.
In November 2024, the FASB issued ASU No. 2024-03 Income Statement (Topic 220): Reporting Comprehensive Income, which requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU No. 2024-03 does not change or remove current expense presentation requirements within the Consolidated Statements of Operations. However, the update requires disclosure, on an annual and interim basis, of disaggregated information about certain income statement expense line items within the notes to the consolidated financial statements. ASU No. 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that the adoption of ASU No. 2024-03 will have on its consolidated financial statements and disclosures.
v3.25.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents net revenue disaggregated by end market for the three months ended March 31, 2025 and 2024:
For the three months ended March 31, 2025
For the three months ended March 31, 2024
PSSSOtherTotalPSSSOtherTotal
Automotive $500,954 $30,506 $— $531,460 $530,624 $32,408 $— $563,032 
HVOR 149,462 5,602 — 155,064 182,694 6,858 — 189,552 
Industrial— 138,568 — 138,568 — 134,349 — 134,349 
HVAC — 38,914 — 38,914 — 38,071 — 38,071 
Aerospace— 47,249 — 47,249 — 46,153 — 46,153 
Other — — — — — — 35,552 35,552 
Total$650,416 $260,839 $— $911,255 $713,318 $257,839 $35,552 $1,006,709 
v3.25.1
Share-Based Payment Plans (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Non-Cash Compensation Expense Related to Equity Awards
The following table presents the components of non-cash compensation expense related to our equity awards for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Restricted securities 6,851 8,133 
Share-based compensation expense$6,851 $8,133 
Schedule of Equity Awards
We granted the following restricted stock units ("RSUs" and each, an "RSU") during the three months ended March 31, 2025:
Awards Granted To:Type of AwardNumber of Units Granted (in thousands)Weighted Average Grant Date Fair Value
Various executives and employees
RSU (1)
128$27.39 
____________________________________
(1)    These RSUs vest ratably over three years, one-third per year beginning on the first anniversary of the grant date. These RSUs will fully vest on various dates between January 2028 and February 2028.
v3.25.1
Restructuring and Other Charges, Net (Tables)
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Other Charges, Net
The following table presents the components of restructuring and other charges, net for the three months ended March 31, 2025, and 2024:
For the three months ended
March 31, 2025March 31, 2024
2H 2024 Plan, net
$2,454 $— 
Q3 2023 Plan, net
918 598 
Other restructuring and other charges, net
Severance charges, net
(80)(9)
Facility and other exit costs— 168 
Loss on sale of business
4,420 — 
Acquisition-related compensation arrangements (1)
— 955 
Other
(732)(930)
Restructuring and other charges, net$6,980 $782 
___________________________________
(1)    Acquisition-related compensation arrangements consist of incentive compensation to previous owners of companies we have acquired. Payment is generally tied to technical and/or financial targets set at the time of acquisition.
Schedule of Severance Liability
The following table presents a rollforward of our severance liability, which is primarily related to the 2H 2024 Plan, for the three months ended March 31, 2025:
Total
Balance as of December 31, 20246,087 
Charges, net of reversals553 
Payments(2,142)
Foreign currency remeasurement71 
Balance as of March 31, 2025$4,569 
v3.25.1
Other, Net (Tables)
 3 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Other, Net
The following table presents the components of other, net for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Currency remeasurement (loss)/gain on net monetary assets$(459)$1,031 
(Loss)/gain on foreign currency forward contracts(1,576)680 
Gain on commodity forward contracts4,419 1,099 
Gain/(loss) on equity investments, net (1)
15 (13,287)
Net periodic benefit cost, excluding service cost(527)(841)
Other256 (226)
Other, net$2,128 $(11,544)
___________________________________
(1)    The three months ended March 31, 2024 primarily includes a loss on an equity investment that does not have a readily determinable fair value for which we use the measurement alternative prescribed in FASB ASC Topic 321, Investments—Equity Securities. Refer to Note 13: Fair Value Measures for additional information.
v3.25.1
Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes
The following table presents the provision for income taxes for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Provision for income taxes$20,722 $22,570 
v3.25.1
Net Income per Share (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Weighted-Average Ordinary Shares Outstanding For the three months ended March 31, 2025 and 2024 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows:
 For the three months ended
March 31, 2025March 31, 2024
Basic weighted-average ordinary shares outstanding148,498 150,480 
Dilutive effect of unvested restricted securities318 441 
Diluted weighted-average ordinary shares outstanding148,816 150,921 
Schedule of Antidilutive Securities These potential ordinary shares were as follows:
For the three months ended
March 31, 2025March 31, 2024
Anti-dilutive shares excluded1,137 1,763 
Contingently issuable shares excluded694 1,060 
v3.25.1
Inventories (Tables)
 3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Components of Inventories
The following table presents the components of inventories as of March 31, 2025 and December 31, 2024:
March 31,
2025		December 31,
2024
Finished goods$202,396 $193,167 
Work-in-process149,336 134,423 
Raw materials309,348 286,865 
Inventories$661,080 $614,455 
v3.25.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt, Net and Finance Lease Obligations
The following table presents the components of long-term debt, net and finance lease obligations as of March 31, 2025 and December 31, 2024:
Maturity DateMarch 31,
2025		December 31,
2024
4.0% Senior Notes
April 15, 20291,000,000 1,000,000 
4.375% Senior Notes
February 15, 2030450,000 450,000 
5.875% Senior Notes
September 1, 2030500,000 500,000 
3.75% Senior Notes
February 15, 2031750,000 750,000 
6.625% Senior Notes
July 15, 2032500,000 500,000 
Plus: debt premium, net of discount (less: debt discount, net of premium)939 997 
Less: deferred financing costs(23,661)(24,899)
Long-term debt, net$3,177,278 $3,176,098 
Finance lease obligations$22,757 $23,398 
Less: current portion(2,130)(2,414)
Finance lease obligations, less current portion$20,627 $20,984 
v3.25.1
Shareholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Roll Forward of Components of Accumulated Other Comprehensive (Loss)/Income
The following table presents the components of accumulated other comprehensive loss for the three months ended March 31, 2025:
Cash Flow HedgesDefined Benefit and Retiree Healthcare PlansCumulative Translation AdjustmentAccumulated Other Comprehensive Loss
Balance as of December 31, 2024$(7,913)$(11,690)$(22,940)$(42,543)
Other comprehensive (loss)/income before reclassifications, net of tax(3,115)— 3,924 809 
Reclassifications from accumulated other comprehensive loss, net of tax(1,420)494 — (926)
Other comprehensive (loss)/income(4,535)494 3,924 (117)
Balance as of March 31, 2025$(12,448)$(11,196)$(19,016)$(42,660)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive (Loss)/Income
The following table presents the amounts reclassified from accumulated other comprehensive loss for the three months ended March 31, 2025 and 2024:
For the three months ended March 31, Affected Line in Condensed Consolidated Statements of Operations
Component20252024
Derivative instruments designated and qualifying as cash flow hedges:
Foreign currency forward contracts $(5,027)$(108)
Net revenue (1)
Foreign currency forward contracts 3,114 (7,354)
Cost of revenue (1)
Total, before taxes(1,913)(7,462)Income before taxes
Income tax effect493 1,925 Provision for income taxes
Total, net of taxes$(1,420)$(5,537)Net income
Defined benefit and retiree healthcare plans
Defined benefit and retiree healthcare plans$(9)$296 Other, net
Defined benefit and retiree healthcare plans721 — Restructuring and other charges, net
Total, before taxes712 296 Income before taxes
Income tax effect(218)(69)Provision for income taxes
Total, net of taxes$494 $227 Net income
___________________________________
(1)    Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding amounts to be reclassified from accumulated other comprehensive loss in future periods.
v3.25.1
Fair Value Measures (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The fair values of our assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024 are shown in the below table.
 March 31,
2025		December 31,
2024
Assets
Cash equivalents (Level 1)$333,484 $243,640 
Foreign currency forward contracts (Level 2)6,544 19,110 
Commodity forward contracts (Level 2)3,803 1,486 
Total$343,831 $264,236 
Liabilities
Foreign currency forward contracts (Level 2)$19,714 $27,648 
Commodity forward contracts (Level 2)256 1,262 
Total$19,970 $28,910 
Schedule of Information about Carrying Values and Fair Values of Financial Instruments not Recorded at Fair Value
The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024. All fair value measures presented are categorized in Level 2 of the fair value hierarchy.
 March 31, 2025December 31, 2024
 
Carrying Value(1)
Fair Value
Carrying Value(1)
Fair Value
Liabilities
4.0% Senior Notes
$1,000,000 $915,000 $1,000,000 $915,000 
4.375% Senior Notes
$450,000 $412,875 $450,000 $410,625 
5.875% Senior Notes
$500,000 $483,750 $500,000 $485,000 
3.75% Senior Notes
$750,000 $652,500 $750,000 $652,500 
6.625% Senior Notes
$500,000 $495,625 $500,000 $497,500 
___________________________________
(1)    Excluding any related debt discounts, premiums, and deferred financing costs.
v3.25.1
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Derivative Instruments
As of March 31, 2025, we had the following outstanding foreign currency forward contracts, which had the below hedge accounting designation in accordance with FASB ASC Topic 815, Derivatives and Hedging:
Notional
(in millions)		Effective Date(s)Maturity Date(s)Index (Exchange Rates)Weighted-Average Strike Rate
Hedge
Designation (1)
354.8 EURVarious from April 2023 to March 2025Various from April 2025 to March 2027Euro ("EUR") to USD1.10 USDCash flow hedge
3,662.9 MXNVarious from April 2023 to March 2025Various from April 2025 to March 2027USD to Mexican Peso ("MXN")19.90 MXNCash flow hedge
59.0 GBPVarious from April 2023 to March 2025Various from April 2025 to March 2027British Pound Sterling ("GBP") to USD1.27 USDCash flow hedge
Notional
(in millions)		Effective Date(s)Maturity Date(s)Index (Exchange Rates)Weighted-Average Strike Rate
Hedge
Designation (1)
53.5 EURMarch 27, 2025April 30, 2025EUR to USD1.08 USDNot designated
426.0 CNYMarch 26, 2025April 30, 2025USD to Chinese Renminbi ("CNY")7.15 CNYNot designated
199.3 USDVarious from March 2024 to May 2024Various from April 2025 to May 2026USD to CNY6.99 CNYNot designated
1,393.8 CNYVarious September 2024Various from April 2025 to May 2026USD to CNY6.82 CNYNot designated
39,416.5 KRWVarious from May 2023 to September 2024Various from April 2025 to July 2026USD to Korean Won ("KRW")1,312.27 KRWNot designated
181.0 MXNMarch 27, 2025April 30, 2025USD to MXN20.45 MXNNot designated
3.1 GBPMarch 27, 2025April 30, 2025GBP to USD1.29 USDNot designated
___________________________________
(1)    Derivative financial instruments not designated as hedges are used to manage our exposure to currency exchange rate risk. They are intended to preserve economic value, and they are not used for trading or speculative purposes.
As of March 31, 2025, we had the following outstanding commodity forward contracts, none of which were designated for hedge accounting treatment:
CommodityNotionalRemaining Contracted PeriodsWeighted-Average Strike Price Per Unit
Silver634,228 troy oz.April 2025 to February 2027$29.66
Copper5,028,817 poundsApril 2025 to February 2027$4.25
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024:
 Asset DerivativesLiability Derivatives
 Balance Sheet LocationMarch 31,
2025		December 31,
2024		Balance Sheet LocationMarch 31,
2025		December 31,
2024
Derivatives designated as hedging instruments
Foreign currency forward contractsPrepaid expenses and other current assets$5,590 $15,717 Accrued expenses and other current liabilities$11,802 $17,018 
Foreign currency forward contractsOther assets938 2,936 Other long-term liabilities2,521 4,042 
Total$6,528 $18,653 $14,323 $21,060 
Derivatives not designated as hedging instruments
Commodity forward contractsPrepaid expenses and other current assets$3,226 $1,413 Accrued expenses and other current liabilities$220 $902 
Commodity forward contractsOther assets577 73 Other long-term liabilities36 360 
Foreign currency forward contractsPrepaid expenses and other current assets4,853 457 Accrued expenses and other current liabilities9,487 4,828 
Foreign currency forward contractsOther assets393 — Other long-term liabilities1,135 1,760 
Total$9,049 $1,943 $10,878 $7,850 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the three months ended March 31, 2025 and 2024:
Derivatives designated as
hedging instruments		Amount of Deferred (Loss)/Gain Recognized in Other Comprehensive LossLocation of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net IncomeAmount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income
2025202420252024
Foreign currency forward contracts$(11,724)$10,965 Net revenue$5,027 $108 
Foreign currency forward contracts$7,526 $8,952 Cost of revenue$(3,114)$7,354 
Derivatives not designated as
hedging instruments		Amount of Gain/(Loss) Recognized in Net IncomeLocation of Gain/(Loss) Recognized in Net Income
20252024
Commodity forward contracts$4,419 $1,099 Other, net
Foreign currency forward contracts$(1,576)$680 Other, net
v3.25.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information by Segment
The following table presents net revenue, segment and non-segment operating expenses, and segment and non-segment operating income for the reportable segments and other operating results not allocated to our reportable segments for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Net revenue:
Performance Sensing
$650,416 $713,318 
Sensing Solutions
260,839 257,839 
Other
— 35,552 
Total net revenue$911,255 $1,006,709 
Segment and non-segment operating expenses(1):
Performance Sensing$507,540 $544,350 
Sensing Solutions184,773 185,545 
Other— 28,771 
Total segment and non-segment operating expenses$692,313 $758,666 
Segment and non-segment operating income (as defined above):
Performance Sensing (1)
$142,876 $168,968 
Sensing Solutions (1)
76,066 72,294 
Other (1)
— 6,781 
Total segment and non-segment operating income
218,942 248,043 
Corporate and other(69,189)(63,954)
Amortization of intangible assets(20,577)(38,515)
Restructuring and other charges, net(6,980)(782)
Operating income122,196 144,792 
Interest expense(37,973)(38,395)
Interest income4,290 3,738 
Other, net2,128 (11,544)
Income before taxes$90,641 $98,591 
___________________________________
(1)    Other segment and non-segment expenses include associated cost of revenue, research and development, and selling, general and administrative expenses.
Schedule of Depreciation and Amortization, by Segment
The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Depreciation and amortization:
Performance Sensing$24,982 $23,960 
Sensing Solutions3,890 4,124 
Corporate and other (1)
32,667 43,954 
Total depreciation and amortization$61,539 $72,038 
__________________________
(1)Included within corporate and other is amortization of intangible assets, accelerated depreciation recognized in connection with restructuring actions, and depreciation of certain assets. We do not allocate these amounts to our segments. This treatment is consistent with the financial information reviewed by our chief operating decision maker.
Schedule of Capital Expenditures by Segment
The following table presents additions to PP&E and capitalized software for our reportable segments and corporate and other for the three months ended March 31, 2025 and 2024:
 For the three months ended
 March 31, 2025March 31, 2024
Additions to property, plant and equipment and capitalized software:
Performance Sensing$23,050 $31,013 
Sensing Solutions3,063 3,263 
Corporate and other6,462 7,854 
Total additions to property, plant and equipment and capitalized software$32,575 $42,130 
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area
The following tables present net revenue by geographic area and by significant country for the three months ended March 31, 2025 and 2024. In these tables, net revenue is aggregated according to the location of our subsidiaries.
 For the three months ended
 March 31, 2025March 31, 2024
Net revenue:
Americas$372,450 $429,108 
Europe252,463 284,737 
Asia and rest of world286,342 292,864 
Net revenue$911,255 $1,006,709 
 For the three months ended
 March 31, 2025March 31, 2024
Net revenue:
United States$344,990 $395,400 
China174,594 179,408 
The Netherlands217,774 246,611 
United Kingdom26,921 28,899 
All other146,976 156,391 
Net revenue$911,255 $1,006,709 
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country
The following tables present PP&E, net, by geographic area and by significant country as of March 31, 2025 and 2024. In these tables, PP&E, net is aggregated based on the location of our subsidiaries.
 March 31,
2025		December 31,
2024
Property, plant and equipment, net:
Americas$295,796 $301,900 
Europe141,133 141,396 
Asia and rest of world375,355 378,357 
Property, plant and equipment, net$812,284 $821,653 
 March 31,
2025		December 31,
2024
Property, plant and equipment, net:
United States$116,260 $121,783 
China259,293 266,104 
Mexico179,402 179,980 
Bulgaria104,725 108,093 
United Kingdom24,471 21,147 
Malaysia111,565 108,118 
All other16,568 16,428 
Property, plant and equipment, net$812,284 $821,653 
v3.25.1
Revenue Recognition (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Net revenue $ 911,255 $ 1,006,709
Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 911,255 1,006,709
Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 35,552
PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 650,416 713,318
SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 260,839 257,839
Automotive    
Disaggregation of Revenue [Line Items]    
Net revenue 531,460 563,032
Automotive | Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
Automotive | PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 500,954 530,624
Automotive | SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 30,506 32,408
HVOR    
Disaggregation of Revenue [Line Items]    
Net revenue 155,064 189,552
HVOR | Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
HVOR | PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 149,462 182,694
HVOR | SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 5,602 6,858
Industrial    
Disaggregation of Revenue [Line Items]    
Net revenue 138,568 134,349
Industrial | Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
Industrial | PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
Industrial | SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 138,568 134,349
HVAC    
Disaggregation of Revenue [Line Items]    
Net revenue 38,914 38,071
HVAC | Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
HVAC | PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
HVAC | SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 38,914 38,071
Aerospace    
Disaggregation of Revenue [Line Items]    
Net revenue 47,249 46,153
Aerospace | Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
Aerospace | PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
Aerospace | SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 47,249 46,153
Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 35,552
Other | Other    
Disaggregation of Revenue [Line Items]    
Net revenue 0 35,552
Other | PS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue 0 0
Other | SS | Operating Segments    
Disaggregation of Revenue [Line Items]    
Net revenue $ 0 $ 0
v3.25.1
Share-Based Payment Plans - Share-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense $ 6,851 $ 8,133
Restricted securities    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense $ 6,851 $ 8,133
v3.25.1
Share-Based Payment Plans - Restricted Stock Units RSUs (Details) - RSU - Various executives and employees
 3 Months Ended
Mar. 31, 2025
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of units granted (in shares) | shares 128
Weighted-average grant date fair value (in dollars per share) | $ / shares $ 27.39
Award vesting period 3 years
v3.25.1
Restructuring and Other Charges, Net - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
position
Dec. 31, 2023
USD ($)
position
2H 2024 Plan    
Restructuring Cost and Reserve [Line Items]    
Expected number of positions eliminated | position 240  
2H 2024 Plan | Minimum    
Restructuring Cost and Reserve [Line Items]    
Expected restructuring charges $ 14.2  
2H 2024 Plan | Maximum    
Restructuring Cost and Reserve [Line Items]    
Expected restructuring charges $ 16.0  
Q3 2023 Plan    
Restructuring Cost and Reserve [Line Items]    
Expected number of positions eliminated | position   505
Q3 2023 Plan | Minimum    
Restructuring Cost and Reserve [Line Items]    
Expected restructuring charges   $ 24.8
Q3 2023 Plan | Maximum    
Restructuring Cost and Reserve [Line Items]    
Expected restructuring charges   $ 25.8
v3.25.1
Restructuring and Other Charges, Net - Components of Restructuring and Other Charges, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]    
Loss on sale of business $ 3,916 $ 0
Restructuring and other charges, net 6,980 782
2H 2024 Plan, net    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other charges, net 2,454 0
Q3 2023 Plan, net    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other charges, net 918 598
Other restructuring and other charges, net    
Restructuring Cost and Reserve [Line Items]    
Severance charges, net (80) (9)
Facility and other exit costs 0 168
Loss on sale of business 4,420 0
Acquisition-related compensation arrangements 0 955
Other $ (732) $ (930)
v3.25.1
Restructuring and Other Charges, Net - Schedule of Restructuring Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
2H 2024 Plan    
Restructuring Reserve [Roll Forward]    
Charges, net of reversals $ 2,454 $ 0
Q3 2023 Plan    
Restructuring Reserve [Roll Forward]    
Charges, net of reversals 918 $ 598
Employee Severance    
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance 6,087  
Charges, net of reversals 553  
Payments (2,142)  
Foreign currency remeasurement 71  
Restructuring reserve, ending balance $ 4,569  
v3.25.1
Other, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Other Income and Expenses [Abstract]    
Currency remeasurement (loss)/gain on net monetary assets $ (459) $ 1,031
(Loss)/gain on foreign currency forward contracts (1,576) 680
Gain on commodity forward contracts 4,419 1,099
Gain/loss on equity investments, net 15 (13,287)
Net periodic benefit cost, excluding service cost (527) (841)
Other 256 (226)
Other, net $ 2,128 $ (11,544)
v3.25.1
Income Taxes - Schedule of Provision For Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]    
Provision for income taxes $ 20,722 $ 22,570
v3.25.1
Net Income per Share - Schedule of Weighted Average Number of Shares (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Earnings Per Share [Abstract]    
Basic weighted-average ordinary shares outstanding (in shares) 148,498 150,480
Dilutive effect of unvested restricted securities (in shares) 318 441
Diluted weighted-average ordinary shares outstanding (in shares) 148,816 150,921
v3.25.1
Net Income per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Anti-dilutive shares excluded    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive shares excluded (in shares) 1,137 1,763
Contingently issuable shares excluded    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive shares excluded (in shares) 694 1,060
v3.25.1
Inventories (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Finished goods $ 202,396 $ 193,167
Work-in-process 149,336 134,423
Raw materials 309,348 286,865
Inventories $ 661,080 $ 614,455
v3.25.1
Debt - Schedule of Long-term Debt, Net and Finance Lease Obligations (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Plus: debt premium, net of discount (less: debt discount, net of premium) $ 939 $ 997
Less: deferred financing costs (23,661) (24,899)
Long-term debt, net 3,177,278 3,176,098
Finance lease obligations 22,757 23,398
Less: current portion (2,130) (2,414)
Finance lease obligations, less current portion $ 20,627 20,984
Senior Notes | 4.0% Senior Notes    
Debt Instrument [Line Items]    
Debt, stated interest rate 4.00%  
Gross long-term debt $ 1,000,000 1,000,000
Senior Notes | 4.375% Senior Notes    
Debt Instrument [Line Items]    
Debt, stated interest rate 4.375%  
Gross long-term debt $ 450,000 450,000
Senior Notes | 5.875% Senior Notes    
Debt Instrument [Line Items]    
Debt, stated interest rate 5.875%  
Gross long-term debt $ 500,000 500,000
Senior Notes | 3.75% Senior Notes    
Debt Instrument [Line Items]    
Debt, stated interest rate 3.75%  
Gross long-term debt $ 750,000 750,000
Senior Notes | 6.625% Senior Notes    
Debt Instrument [Line Items]    
Debt, stated interest rate 6.625%  
Gross long-term debt $ 500,000 $ 500,000
v3.25.1
Debt - Narrative (Details) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Accrued interest $ 34,100,000 $ 55,200,000
6.625% Senior Notes | Line of Credit    
Debt Instrument [Line Items]    
Maximum borrowing capacity 750,000,000 $ 750,000,000
Amount available under revolving credit facility 745,800,000  
Letters of credit outstanding 4,200,000  
Letter of Credit | Line of Credit    
Debt Instrument [Line Items]    
Long-term line of credit $ 0  
v3.25.1
Shareholders' Equity - Narrative (Details) - USD ($)
$ / shares in Units, shares in Millions
 1 Months Ended 3 Months Ended
Apr. 17, 2025
Feb. 29, 2024
Mar. 31, 2025
Mar. 31, 2024
Sep. 30, 2023
Equity, Class of Treasury Stock [Line Items]          
Purchase of noncontrolling interest in joint venture     $ 0 $ 79,393,000  
Dividends paid     17,901,000 18,056,000  
Repurchase of ordinary shares     $ 100,500,000 $ 10,052,000  
Subsequent Event          
Equity, Class of Treasury Stock [Line Items]          
Dividends declared pre share (in dollars per share) $ 0.12        
September 2023 Program          
Equity, Class of Treasury Stock [Line Items]          
Stock repurchase program, authorized amount         $ 500,000,000
Repurchase of ordinary shares (in shares)     3.5 0.3  
Repurchase of ordinary shares     $ 100,500,000 $ 10,100,000  
Remaining amount under share repurchase program     $ 302,500,000    
Dongguan Churod Electronics Co., Ltd.          
Equity, Class of Treasury Stock [Line Items]          
Equity method investment, ownership percentage purchased   50.00%      
Purchase of noncontrolling interest in joint venture   $ 79,400,000      
v3.25.1
Shareholders' Equity - Accumulated Other Comprehensive Income Roll forward (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]    
Beginning balance $ 2,890,443 $ 2,996,276
Comprehensive income (117) (5,252)
Ending balance 2,848,634 2,974,834
Cash Flow Hedges    
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]    
Beginning balance (7,913)  
Other comprehensive (loss)/income before reclassifications, net of tax (3,115)  
Reclassifications from accumulated other comprehensive loss, net of tax (1,420)  
Comprehensive income (4,535)  
Ending balance (12,448)  
Defined Benefit and Retiree Healthcare Plans    
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]    
Beginning balance (11,690)  
Other comprehensive (loss)/income before reclassifications, net of tax 0  
Reclassifications from accumulated other comprehensive loss, net of tax 494  
Comprehensive income 494  
Ending balance (11,196)  
Cumulative Translation Adjustment    
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]    
Beginning balance (22,940)  
Other comprehensive (loss)/income before reclassifications, net of tax 3,924  
Reclassifications from accumulated other comprehensive loss, net of tax 0  
Comprehensive income 3,924  
Ending balance (19,016)  
Accumulated Other Comprehensive Loss    
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]    
Beginning balance (42,543) 9,962
Other comprehensive (loss)/income before reclassifications, net of tax 809  
Reclassifications from accumulated other comprehensive loss, net of tax (926)  
Comprehensive income (117) (5,252)
Ending balance $ (42,660) $ 4,710
v3.25.1
Shareholders' Equity - Accumulated Other Comprehensive (Loss) Income Reclassifications (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Net revenue $ (911,255) $ (1,006,709)
Cost of revenue 638,667 689,260
Other, net (2,128) 11,544
Provision for income taxes 20,722 22,570
Net income (69,919) (76,021)
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Derivative instruments designated and qualifying as cash flow hedges:    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Income before taxes (1,913) (7,462)
Provision for income taxes 493 1,925
Net income (1,420) (5,537)
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Derivative instruments designated and qualifying as cash flow hedges: | Foreign currency forward contracts    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Net revenue (5,027) (108)
Cost of revenue 3,114 (7,354)
(Gain)/Loss Reclassified from Accumulated Other Comprehensive Loss | Defined benefit and retiree healthcare plans    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Income before taxes (712) (296)
Other, net (9) 296
Restructuring and other charges, net 721 0
Provision for income taxes (218) (69)
Net income $ 494 $ 227
v3.25.1
Fair Value Measures - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets $ 343,831 $ 264,236
Liabilities 19,970 28,910
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 333,484 243,640
Foreign currency forward contracts | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative asset 6,544 19,110
Derivative liabilities 19,714 27,648
Commodity forward contracts | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative asset 3,803 1,486
Derivative liabilities $ 256 $ 1,262
v3.25.1
Fair Value Measures - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]      
Equity securities without readily determinable fair value   $ 7.2 $ 6.1
Carrying values of equity investments, observable price changes $ 14.8    
v3.25.1
Fair Value Measures - Financial Instruments Not Recorded at Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
4.0% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt, stated interest rate 4.00%  
4.375% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt, stated interest rate 4.375%  
5.875% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt, stated interest rate 5.875%  
3.75% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt, stated interest rate 3.75%  
6.625% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt, stated interest rate 6.625%  
Level 2 | 4.0% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities $ 915,000 $ 915,000
Level 2 | 4.375% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 412,875 410,625
Level 2 | 5.875% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 483,750 485,000
Level 2 | 3.75% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 652,500 652,500
Level 2 | 6.625% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 495,625 497,500
Level 2 | Carrying Value | 4.0% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 1,000,000 1,000,000
Level 2 | Carrying Value | 4.375% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 450,000 450,000
Level 2 | Carrying Value | 5.875% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 500,000 500,000
Level 2 | Carrying Value | 3.75% Senior Notes | Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities 750,000 750,000
Level 2 | Carrying Value | 6.625% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Liabilities $ 500,000 $ 500,000
v3.25.1
Derivative Instruments and Hedging Activities - Schedule of Derivative Instruments (Details)
€ in Millions, ₩ in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
EUR (€)
lb
ozt
Mar. 31, 2025
MXN ($)
Mar. 31, 2025
GBP (£)
Mar. 31, 2025
CNY (¥)
Mar. 31, 2025
USD ($)
Mar. 31, 2025
KRW (₩)
Foreign currency forward contracts | Cash flow hedge | EUR to USD            
Hedges of Foreign Currency Risk            
Notional | € € 354.8          
Weighted-Average Strike Rate 1.10 1.10 1.10 1.10 1.10 1.10
Foreign currency forward contracts | Cash flow hedge | USD to Mexican Peso ("MXN")            
Hedges of Foreign Currency Risk            
Notional   $ 3,662.9        
Weighted-Average Strike Rate 19.90 19.90 19.90 19.90 19.90 19.90
Foreign currency forward contracts | Cash flow hedge | GBP to USD            
Hedges of Foreign Currency Risk            
Notional | £     £ 59.0      
Weighted-Average Strike Rate 1.27 1.27 1.27 1.27 1.27 1.27
Foreign currency forward contracts | Cash flow hedge | USD to Chinese Renminbi ("CNY")            
Hedges of Foreign Currency Risk            
Notional         $ 199.3  
Weighted-Average Strike Rate 6.99 6.99 6.99 6.99 6.99 6.99
Foreign currency forward contracts | Cash flow hedge | USD to CNY            
Hedges of Foreign Currency Risk            
Notional | ¥       ¥ 1,393.8    
Weighted-Average Strike Rate 6.82 6.82 6.82 6.82 6.82 6.82
Foreign currency forward contracts | Cash flow hedge | USD to Korean Won ("KRW")            
Hedges of Foreign Currency Risk            
Notional | ₩           ₩ 39,416.5
Weighted-Average Strike Rate 1,312.27 1,312.27 1,312.27 1,312.27 1,312.27 1,312.27
Foreign currency forward contracts | Not designated | EUR to USD            
Hedges of Foreign Currency Risk            
Notional | € € 53.5          
Weighted-Average Strike Rate 1.08 1.08 1.08 1.08 1.08 1.08
Foreign currency forward contracts | Not designated | USD to Mexican Peso ("MXN")            
Hedges of Foreign Currency Risk            
Notional   $ 181.0        
Weighted-Average Strike Rate 20.45 20.45 20.45 20.45 20.45 20.45
Foreign currency forward contracts | Not designated | GBP to USD            
Hedges of Foreign Currency Risk            
Notional | £     £ 3.1      
Weighted-Average Strike Rate 1.29 1.29 1.29 1.29 1.29 1.29
Foreign currency forward contracts | Not designated | USD to Chinese Renminbi ("CNY")            
Hedges of Foreign Currency Risk            
Notional | ¥       ¥ 426.0    
Weighted-Average Strike Rate 7.15 7.15 7.15 7.15 7.15 7.15
Silver | Not designated            
Hedges of Foreign Currency Risk            
Weighted-Average Strike Rate 29.66 29.66 29.66 29.66 29.66 29.66
Hedges of Commodity Risk            
Notional | ozt 634,228          
Copper | Not designated            
Hedges of Foreign Currency Risk            
Weighted-Average Strike Rate 4.25 4.25 4.25 4.25 4.25 4.25
Hedges of Commodity Risk            
Notional | lb 5,028,817          
v3.25.1
Derivative Instruments and Hedging Activities - Narrative (Details)
$ in Millions
Mar. 31, 2025
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Foreign currency cash flow hedge losses to be reclassified during the next 12 months $ 12.1
v3.25.1
Derivative Instruments and Hedging Activities - Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Asset Derivatives $ 6,528 $ 18,653
Liability Derivatives 14,323 21,060
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 9,049 1,943
Liability Derivatives 10,878 7,850
Foreign currency forward contracts | Derivatives designated as hedging instruments | Prepaid expenses and other current assets    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 5,590 15,717
Foreign currency forward contracts | Derivatives designated as hedging instruments | Other assets    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 938 2,936
Foreign currency forward contracts | Derivatives designated as hedging instruments | Accrued expenses and other current liabilities    
Derivatives, Fair Value [Line Items]    
Liability Derivatives 11,802 17,018
Foreign currency forward contracts | Derivatives designated as hedging instruments | Other long-term liabilities    
Derivatives, Fair Value [Line Items]    
Liability Derivatives 2,521 4,042
Foreign currency forward contracts | Derivatives not designated as hedging instruments | Prepaid expenses and other current assets    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 4,853 457
Foreign currency forward contracts | Derivatives not designated as hedging instruments | Other assets    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 393 0
Foreign currency forward contracts | Derivatives not designated as hedging instruments | Accrued expenses and other current liabilities    
Derivatives, Fair Value [Line Items]    
Liability Derivatives 9,487 4,828
Foreign currency forward contracts | Derivatives not designated as hedging instruments | Other long-term liabilities    
Derivatives, Fair Value [Line Items]    
Liability Derivatives 1,135 1,760
Commodity forward contracts | Derivatives not designated as hedging instruments | Prepaid expenses and other current assets    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 3,226 1,413
Commodity forward contracts | Derivatives not designated as hedging instruments | Other assets    
Derivatives, Fair Value [Line Items]    
Asset Derivatives 577 73
Commodity forward contracts | Derivatives not designated as hedging instruments | Accrued expenses and other current liabilities    
Derivatives, Fair Value [Line Items]    
Liability Derivatives 220 902
Commodity forward contracts | Derivatives not designated as hedging instruments | Other long-term liabilities    
Derivatives, Fair Value [Line Items]    
Liability Derivatives $ 36 $ 360
v3.25.1
Derivative Instruments and Hedging Activities - Income Statement Disclosures (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Foreign currency forward contracts | Derivatives not designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of Gain/(Loss) Recognized in Net Income $ (1,576) $ 680
Foreign currency forward contracts | Net revenue | Derivatives designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of Deferred (Loss)/Gain Recognized in Other Comprehensive Loss (11,724) 10,965
Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income 5,027 108
Foreign currency forward contracts | Cost of revenue | Derivatives designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of Deferred (Loss)/Gain Recognized in Other Comprehensive Loss 7,526 8,952
Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Net Income (3,114) 7,354
Commodity forward contracts | Derivatives not designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of Gain/(Loss) Recognized in Net Income $ 4,419 $ 1,099
v3.25.1
Derivative Instruments and Hedging Activities - Credit Risk Related Contingent Features (Details)
Mar. 31, 2025
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Termination value of outstanding derivatives in a liability position $ 25,300,000
Collateral already posted, aggregate fair value $ 0
v3.25.1
Segment Reporting - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Segment Reporting Information [Line Items]    
Number of reportable segments | segment 2  
Goodwill | $ $ 3,383,812 $ 3,383,800
v3.25.1
Segment Reporting - Schedules of Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Net revenue $ 911,255 $ 1,006,709
Operating income 122,196 144,792
Amortization of intangible assets (20,577) (38,515)
Restructuring and other charges, net (6,980) (782)
Interest expense (37,973) (38,395)
Interest income 4,290 3,738
Other, net 2,128 (11,544)
Income before taxes 90,641 98,591
Depreciation and amortization: 61,539 72,038
Additions to property, plant and equipment and capitalized software: 32,575 42,130
Operating Segments    
Segment Reporting Information [Line Items]    
Net revenue 911,255 1,006,709
Operating expenses 692,313 758,666
Operating income 218,942 248,043
Operating Segments | Performance Sensing    
Segment Reporting Information [Line Items]    
Net revenue 650,416 713,318
Operating expenses 507,540 544,350
Operating income 142,876 168,968
Depreciation and amortization: 24,982 23,960
Additions to property, plant and equipment and capitalized software: 23,050 31,013
Operating Segments | Sensing Solutions    
Segment Reporting Information [Line Items]    
Net revenue 260,839 257,839
Operating expenses 184,773 185,545
Operating income 76,066 72,294
Depreciation and amortization: 3,890 4,124
Additions to property, plant and equipment and capitalized software: 3,063 3,263
Other    
Segment Reporting Information [Line Items]    
Net revenue 0 35,552
Operating expenses 0 28,771
Operating income 0 6,781
Amortization of intangible assets (20,577) (38,515)
Restructuring and other charges, net (6,980) (782)
Corporate and other    
Segment Reporting Information [Line Items]    
Operating income (69,189) (63,954)
Depreciation and amortization: 32,667 43,954
Additions to property, plant and equipment and capitalized software: $ 6,462 $ 7,854
v3.25.1
Segment Reporting - Geographic Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue $ 911,255 $ 1,006,709
Long-lived assets 812,284 821,653
Americas    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 372,450 429,108
Long-lived assets 295,796 301,900
Europe    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 252,463 284,737
Long-lived assets 141,133 141,396
Asia and rest of world    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 286,342 292,864
Long-lived assets 375,355 378,357
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 344,990 395,400
Long-lived assets 116,260 121,783
China    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 174,594 179,408
Long-lived assets 259,293 266,104
The Netherlands    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 217,774 246,611
United Kingdom    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 26,921 28,899
Long-lived assets 24,471 21,147
All other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net revenue 146,976 156,391
Long-lived assets 16,568 16,428
Mexico    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 179,402 179,980
Bulgaria    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 104,725 108,093
Malaysia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 111,565 $ 108,118
v3.25.1
Disposals (Details)
 1 Months Ended
Aug. 31, 2024
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Insights Business  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Supply agreement, term 5 years