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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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costs are separately stated below and include costs that are related to functional areas such as accounting, treasury, information technology, legal, human resources, and internal audit. The Company believes that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of its segments. However, this measure should be considered in addition to, not a substitute for, or superior to, income from operations or other measures of financial performance prepared in accordance with generally accepted accounting principles. The other accounting policies of each of the two reporting segments are the same as those in the summary of significant accounting policies included in Note 2.

 

The sensors segment is a manufacturer of pressure, force, and electromechanical sensor products used in subsystems of automobiles (e.g., engine, air-conditioning, ride stabilization) and in industrial products such as HVAC systems.

 

The controls segment manufactures a variety of control applications used in industrial, aerospace, military, commercial and residential markets. The controls product portfolio includes motor and compressor protectors, circuit breakers, semiconductor burn-in test sockets, electronic HVAC controls, power inverters and precision switches and thermostats.

 

The following table presents net revenue and operating income for the reported segments and other operating results not allocated to the reported segments for the years ended December 31, 2009, 2008 and 2007:

 

     For the year ended December 31,  
     2009     2008     2007  

Net revenue:

      

Sensors

   $ 685,092      $ 867,386      $ 882,475   

Controls

     449,852        555,269        520,779   
                        

Total net revenue

   $ 1,134,944      $ 1,422,655      $ 1,403,254   
                        

Segment operating income (as defined above):

      

Sensors

   $ 194,129      $ 221,885      $ 244,306   

Controls

     129,570        136,455        130,018   
                        

Total segment operating income

     323,699        358,340        374,324   

Corporate/other

     (74,583     (92,329     (111,337

Amortization of intangible assets and capitalized software

     (153,081     (148,762     (131,064

Impairment of goodwill and intangible assets

     (19,867     (13,173     —     

Restructuring

     (18,086     (24,124     (5,166

Effect of inventory purchase accounting adjustments

     —          —          (4,454
                        

Profit from operations

     58,082        79,952        122,303   

Interest expense, net

     (150,016     (196,337     (188,587

Currency translation gain/(loss) and other, net

     107,695        55,467        (105,449
                        

Income/(loss) from continuing operations before taxes

   $ 15,761      $ (60,918   $ (171,733
                        

 

No customer exceeded 10% or more of the Company’s net revenue in any of the periods presented.

 

F-70