EX-99.4 5 a18-37220_2ex99d4.htm EX-99.4

Exhibit 99.4

 

TE CONNECTIVITY LTD.

IMPACT OF ADDITIONAL WEEK (UNAUDITED)

 

 

 

 

 

Fiscal 2016

 

Change in Net Sales for Fiscal 2017
versus Net Sales for Fiscal 2016

 

Change in Organic Net Sales for Fiscal 2017
versus Organic Net Sales for Fiscal 2016 (2)

 

 

 

 

 

 

 

Adjustment

 

 

 

 

 

Adjustment

 

 

 

 

 

Adjustment

 

 

 

 

 

 

 

53 Weeks

 

Impact of

 

52 Weeks

 

53 Weeks

 

Impact of

 

52 Weeks

 

53 Weeks

 

Impact of

 

52 Weeks

 

 

 

Fiscal 2017

 

U.S. GAAP

 

53rd Week

 

(Non-GAAP) (1)(2)

 

U.S. GAAP

 

53rd Week

 

(Non-GAAP) (1)(2)

 

(Non-GAAP) (2)

 

53rd Week

 

(Non-GAAP) (1)(2)

 

 

 

($in millions)

 

Net Sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive

 

$

5,228

 

$

4,912

 

$

(102

)

$

4,810

 

6.4

%

2.3

%

8.7

%

7.1

%

2.3

%

9.4

%

Commercial transportation

 

997

 

825

 

(15

)

810

 

20.8

 

2.3

 

23.1

 

21.9

 

2.2

 

24.1

 

Sensors

 

814

 

766

 

(13

)

753

 

6.3

 

1.8

 

8.1

 

3.0

 

1.7

 

4.7

 

Total

 

7,039

 

6,503

 

(130

)

6,373

 

8.2

 

2.3

 

10.5

 

8.5

 

2.1

 

10.6

 

Industrial Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial equipment

 

1,747

 

1,419

 

(32

)

1,387

 

23.1

 

2.9

 

26.0

 

5.5

 

2.4

 

7.9

 

Aerospace, defense, oil, and gas

 

1,075

 

1,100

 

(20

)

1,080

 

(2.3

)

1.8

 

(0.5

)

(1.7

)

1.8

 

0.1

 

Energy

 

685

 

696

 

(13

)

683

 

(1.6

)

1.9

 

0.3

 

(1.0

)

1.9

 

0.9

 

Total

 

3,507

 

3,215

 

(65

)

3,150

 

9.1

 

2.2

 

11.3

 

1.6

 

2.1

 

3.7

 

Communications Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Data and devices

 

963

 

1,019

 

(21

)

998

 

(5.5

)

2.0

 

(3.5

)

2.3

 

2.3

 

4.6

 

Appliances

 

676

 

615

 

(11

)

604

 

9.9

 

2.0

 

11.9

 

10.8

 

2.2

 

13.0

 

Total

 

1,639

 

1,634

 

(32

)

1,602

 

0.3

 

2.0

 

2.3

 

5.7

 

2.2

 

7.9

 

Total

 

$

12,185

 

$

11,352

 

$

(227

)

$

11,125

 

7.3

%

2.2

%

9.5

%

6.1

%

2.2

%

8.3

%

 

For the Year Ended September 30, 2016

 

 

 

 

 

Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition

 

and Other

 

 

 

53 Weeks

 

Adjustment

 

52 Weeks

 

 

 

 

 

 

 

 

 

 

 

Related

 

Charges

 

 

 

Adjusted

 

Impact of

 

Adjusted

 

 

 

 

 

 

 

 

 

U.S. GAAP

 

Charges (3)

 

(Credits), Net

 

Tax Items (4)

 

(Non-GAAP) (2)

 

53rd Week

 

(Non-GAAP) (1)(2)

 

 

 

 

 

 

 

 

 

($in millions, except per share data)

 

 

 

 

 

 

 

Operating Income

 

$

1,808

 

$

32

 

$

(2

)

$

—

 

$

1,838

 

$

(53

)

$

1,785

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Margin

 

15.9

%

 

 

 

 

 

 

16.2

%

 

 

16.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings per Share from Continuing Operations

 

$

5.01

 

$

0.07

 

$

(0.01

)

$

(1.25

)

$

3.82

 

$

(0.12

)

$

3.70

 

 

 

 

 

 

 

 

(1) Excludes the impact of an additional week in the fourth quarter of fiscal 2016. The impact of the additional week was estimated using an average weekly sales figure for the last month of the fiscal year.

(2) See description of non-GAAP financial measures.

(3) Includes $22 million of acquisition and integration costs and $10 million of non-cash amortization associated with fair value adjustments related to acquired inventories and customer order backlog recorded in cost of sales.

(4) Includes $1,135 million of income tax benefits associated with the settlement of tax matters for the years 1997 through 2000 which resolved all aspects of the disputed debt matter with the IRS through the year 2007, as well as the related impact of $604 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien. Also includes income tax charges related to a $91 million increase in the valuation allowance for certain U.S. deferred tax assets; and an $83 million net income tax benefit related to tax settlements in certain other tax jurisdictions, as well as the related impact of $46 million to other expense pursuant to the tax sharing agreement with Tyco International and Covidien.