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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
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Table of Contents

During the years ended December 31, 2009 and 2008, the Company recognized impairment charges related to its Grand Blanc facility of $459 and $684, respectively, in response to the decline in real estate values in Grand Blanc, Michigan. The losses were recognized as a component of Currency translation gain/(loss) and other, net in the consolidated statements of operations. During 2009, the Company completed the sale of the Grand Blanc facility. The Grand Blanc facility was part of the sensors business reporting segment.

 

Additionally, during the year ended December 31, 2009, the Company recognized an impairment charge of $1,202 related to its Standish facility. The loss was recognized as a component of Currency translation gain/(loss) and other, net. As of December 31, 2009, the Company continued to hold for sale its Standish, Maine facility. The Standish facility is part of the sensors business reporting segment.

 

Property, plant and equipment as of December 31, 2009 and 2008 includes the following assets under capital leases:

 

     December 31,
2009
    December 31,
2008
 

Property under capital leases

   $ 31,882      $ 30,766   

Accumulated amortization

     (5,907     (4,290
                

Net property under capital leases

   $ 25,975      $ 26,476   
                

 

7. Inventories

 

Inventories as of December 31, 2009 and 2008 consist of the following:

 

     December 31,
2009
   December 31,
2008

Finished goods

   $ 41,931    $ 48,454

Work-in-process

     20,627      20,084

Raw materials

     62,817      70,690
             

Total

   $ 125,375    $ 139,228
             

 

In connection with the 2006 Acquisition, the acquisition of First Technology Automotive and the acquisition of Airpax, the Company recorded inventory fair value adjustments of $24,571, $2,604 and $2,296, respectively. During the year ended December 31, 2007, the effect of the inventory purchase accounting adjustments of $4,454 was charged to cost of revenue. There were no effects of inventory purchase accounting adjustments recognized during the years ended December 31, 2009 or 2008. As of December 31, 2009 and 2008, inventories totaling $2,360 and $3,074, respectively, had been consigned to others.

 

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