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Sensata Technologies Holding N.V.'s SEC Filings

S-1/A
SENSATA TECHNOLOGIES HOLDING PLC filed this Form S-1/A on 03/09/2010
Entire Document
 


Table of Contents
    Predecessor (combined)          Sensata Technologies Holding N.V. (consolidated)  
          For the period          For the period                    
    For the
year ended
December 31,
    January 1 to
April 26,
         April 27
(inception) to
December 31,
    For the year ended
December 31,
 
(Amounts in thousands)   2005     2006       2006     2007     2008     2009  

Other Financial Data:

               

Net cash provided by/(used in):

               

Operating activities

  $ 173,276      $ 40,599          $ 129,923      $ 155,278      $ 47,481      $ 187,577   

Investing activities

    (56,505     (16,705         (3,142,543     (355,710     (38,713     (15,077

Financing activities

    (116,771     (23,894         3,097,373        175,736        8,891        (101,748

Capital expenditures(4)

    42,218        16,705            29,630        66,701        40,963        14,959   

EBITDA (unaudited)(5)

    256,070        81,286            111,031        187,862        315,460        366,890   
 
          Predecessor
(combined)
         Sensata Technologies Holding N.V. (consolidated)  
          As of
December 31,

    2005    
         As of December 31,  
(Amounts in thousands)                2006     2007     2008     2009  

Balance Sheet Data:

               

Cash and cash equivalents

    $          $ 84,753      $ 60,057      $ 77,716      $ 148,468   

Working capital(6)

      167,018            221,486        161,418        15,663        245,445   

Total assets

      504,297            3,372,292        3,555,508        3,303,381        3,166,870   

Total debt, including capital lease and other financing obligations

      31,165            2,272,633        2,562,480        2,511,187        2,300,826   

Texas Instruments’ net investment/Total shareholders’ equity

      355,673            824,609        566,310        405,332        387,158   

 

(1)   Currency translation gain/(loss) and other, net in the period from April 27, 2006 (inception) to December 31, 2006 primarily includes currency translation loss associated with Euro-denominated debt and the deferred payments certificates of $(65.5) million. Currency translation gain/(loss) and other, net for the year ended December 31, 2007 primarily includes currency translation loss associated with the Euro-denominated debt of $(111.9) million. Currency translation gain/(loss) and other, net for the years ended December 31, 2008 and 2009 includes gains of $15.0 million and $120.1 million, respectively, recognized on repurchases of Senior Notes and Senior Subordinated Notes, as well as currency translation gain/(loss) associated with the Euro-denominated debt of $53.2 million and $(13.6) million, respectively.
(2)   Included within Net income/(loss) for each of the periods presented were the following expenses:

 

(Amounts in thousands)

                Sensata Technologies Holding N.V. (consolidated)
                For the period    For the year ended December 31,
                April 27
(inception) to
December 31,
  
                       2006    2007    2008    2009

Amortization and depreciation expense related to the step-up in fair value of fixed and intangible assets (a)

  $ 91,591    $ 154,296    $ 160,594    $ 157,797

Deferred income tax and other tax expense

    30,148      46,126      29,980      26,592

Amortization expense of deferred financing costs

    11,518      9,640      10,698      9,055

Interest expense related to uncertain tax positions

         1,747      43      823

Interest expense related to Deferred Payment Certificates

    44,581               

 

  (a)   Amortization and depreciation expense related to the step-up in fair value of fixed and intangible assets relates to the acquisition of the S&C business of Texas Instruments, First Technology Automotive and Airpax and the step-up in the fair value of these assets through purchase accounting.

 

(3)   Net loss per share is computed based on the weighted-average number of ordinary shares outstanding.
(4)   Excludes non-cash capital expenditures, financed through a capital lease, of $31.2 million for the year ended December 31, 2005.
(5)   We present EBITDA in this prospectus to provide investors with a supplemental measure of our operating performance. EBITDA is a non-GAAP financial measure. We define EBITDA as net income/(loss) before interest, taxes, depreciation and amortization. We believe EBITDA assists our board of directors, management and investors in comparing our operating performance on a consistent basis because it removes the impact of our capital structure (such as interest expense), asset base (such as depreciation and amortization) and tax structure. The use of EBITDA has limitations and you should not consider this performance measure in isolation from or as an alternative to U.S. GAAP measures such as net income/(loss).

 

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