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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

Prepaid Expenses and Other Current Assets

 

Prepaid expenses and other current assets as of December 31, 2009 and 2008 consist of the following:

 

     December 31,
2009
   December 31,
2008

Prepaid value-added tax

   $ 4,270    $ 3,589

Non-trade receivables

     1,465      1,498

Prepaid interest

     —        7,824

Prepaid offering costs

     3,401      —  

Other

     10,491      13,266
             
   $ 19,627    $ 26,177
             

 

Inventories

 

Inventories are stated at the lower of cost or estimated net realizable value. Cost for raw materials, work-in-process and finished goods is determined based on a first-in, first-out basis and includes material, labor and applicable manufacturing overhead as well as transportation and handling costs. The Company conducts quarterly inventory reviews for salability and obsolescence, and inventory considered unlikely to be sold is adjusted to net realizable value.

 

Property, Plant and Equipment and Other Capitalized Costs

 

Property, plant and equipment are stated at cost and depreciated on a straight-line basis over their estimated economic useful lives. Depreciable lives of plant and equipment are as follows:

 

Building and improvement

   2 – 40 years

Machinery and equipment

   2 – 10 years

 

Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term or the estimated economic useful lives of the improvements. Assets held under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. Amortization expense associated with capital leases is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease.

 

Expenditures for maintenance and repairs are charged to expense as incurred, whereas major improvements are capitalized.

 

Accumulated Other Comprehensive Loss

 

Accumulated other comprehensive loss as of December 31, 2009 and 2008 consists of the following:

 

     December 31,
2009
    December 31,
2008
 

Net unrealized loss on derivatives

   $ (11,805   $ (10,806

Defined benefit pension and retiree healthcare plans

     (25,394     (33,661
                
   $ (37,199   $ (44,467
                

 

Amounts recorded in accumulated other comprehensive loss are net of tax expense/(benefit) of $4,353 and $(1,004) as of December 31, 2009 and 2008, respectively.

 

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