Registration No. 333-270605
(To Prospectus dated March 16, 2023)
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Prices to
Public(1)(2) |
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Underwriting
Discount |
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Proceeds to us
(before expenses)(2) |
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Per note
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Total
|
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Per note
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Total
|
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Per note
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Total
|
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2027 notes
|
| | | | 101.107% | | | | | $ | 252,767,500 | | | | | | 0.400% | | | | | $ | 1,000,000 | | | | | | 100.707% | | | | | $ | 251,767,500 | | | | | | |||
2035 notes
|
| | | | 99.502% | | | | | $ | 746,265,000 | | | | | | 0.650% | | | | | $ | 4,875,000 | | | | | | 98.852% | | | | | $ | 741,390,000 | | | | | | |||
2054 notes
|
| | | | 98.429% | | | | | $ | 492,145,000 | | | | | | 0.875% | | | | | $ | 4,375,000 | | | | | | 97.554% | | | | | $ | 487,770,000 | | | | | | |||
Combined Total
|
| | | | | | | | | $ | 1,491,177,500 | | | | | | | | | | | $ | 10,250,000 | | | | | | | | | | | $ | 1,480,927,500 | | | | | |
|
Barclays
|
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BNP PARIBAS
|
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BofA Securities
|
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HSBC
|
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Citigroup
|
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J.P. Morgan
|
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Mizuho
|
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COMMERZBANK
|
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Goldman Sachs & Co. LLC
|
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TD Securities
|
|
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ING
|
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Loop Capital Markets
|
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Siebert Williams Shank
|
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Standard Chartered Bank
|
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US Bancorp
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Amphenol Corporation
358 Hall Avenue
Wallingford, CT 06492
Telephone No: (203) 265-8900
Control
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Nine Months Ended
September 30,
|
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Year Ended December 31,
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(in millions)
|
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2024
|
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2023
|
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2023
|
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2022
|
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2021
|
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(unaudited)
|
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Statements of Income Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net sales
|
| | | $ | 10,904.9 | | | | | $ | 9,227.2 | | | | | $ | 12,554.7 | | | | | $ | 12,623.0 | | | | | $ | 10,876.3 | | |
Cost of sales
|
| | | | 7,245.9 | | | | | | 6,243.5 | | | | | | 8,470.6 | | | | | | 8,594.8 | | | | | | 7,474.5 | | |
Selling, general and administrative expenses
|
| | | | 1,340.4 | | | | | | 1,095.7 | | | | | | 1,489.9 | | | | | | 1,420.9 | | | | | | 1,226.3 | | |
Operating income
|
| | | | 2,203.2 | | | | | | 1,869.6 | | | | | | 2,559.6 | | | | | | 2,585.8 | | | | | | 2,105.1 | | |
Net income attributable to APH
|
| | | | 1,677.8 | | | | | | 1,413.6 | | | | | | 1,928.0 | | | | | | 1,902.3 | | | | | | 1,590.8 | | |
Non-GAAP Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted operating income(a)
|
| | | | 2,336.8 | | | | | | 1,888.0 | | | | | | 2,594.2 | | | | | | 2,607.3 | | | | | | 2,175.5 | | |
Adjusted net income attributable to APH(a)
|
| | | | 1,686.9 | | | | | | 1,357.1 | | | | | | 1,870.4 | | | | | | 1,864.7 | | | | | | 1,548.4 | | |
Statements of Cash Flow and Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities from
continuing operations |
| | | | 1,967.6 | | | | | | 1,686.9 | | | | | | 2,528.7 | | | | | | 2,174.6 | | | | | | 1,523.9 | | |
Net cash used in investing activities from continuing operations
|
| | | | (2,398.2) | | | | | | (704.4) | | | | | | (1,393.7) | | | | | | (731.1) | | | | | | (2,604.4) | | |
Net cash used in financing activities from continuing operations
|
| | | | 515.8 | | | | | | (822.4) | | | | | | (1,012.4) | | | | | | (1,196.7) | | | | | | (145.1) | | |
Capital expenditures
|
| | | | (465.6) | | | | | | (267.8) | | | | | | (372.8) | | | | | | (383.8) | | | | | | (360.4) | | |
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As of December 31,
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(in millions)
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As of
September 30, 2024 |
| |
2023
|
| |
2022
|
| |
2021
|
| ||||||||||||
| | |
(unaudited)
|
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Balance Sheet Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 1,563.0 | | | | | $ | 1,475.0 | | | | | $ | 1,373.1 | | | | | $ | 1,197.1 | | |
Short-term investments
|
| | | | 20.3 | | | | | | 185.2 | | | | | | 61.1 | | | | | | 44.3 | | |
Working capital(b)
|
| | | | 3,871.1 | | | | | | 3,682.6 | | | | | | 3,803.0 | | | | | | 3,511.1 | | |
Total assets
|
| | | | 19,585.6 | | | | | | 16,526.4 | | | | | | 15,326.2 | | | | | | 14,678.4 | | |
Total debt(c)
|
| | | | 5,484.1 | | | | | | 4,337.3 | | | | | | 4,577.7 | | | | | | 4,799.9 | | |
Total equity
|
| | | | 9,506.1 | | | | | | 8,395.8 | | | | | | 7,073.5 | | | | | | 6,360.1 | | |
Reconciliations of GAAP to Non-GAAP Financial Measures
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Nine Months Ended September 30,
|
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Year ended December 31,
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2024
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2023
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2023
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2022
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2021
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(in millions)
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Operating
Income |
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Net
Income attributable to APH |
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Operating
Income |
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Net
Income attributable to APH |
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Operating
Income |
| |
Net
Income attributable to APH |
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Operating
Income |
| |
Net
Income attributable to APH |
| |
Operating
Income |
| |
Net
Income attributable to APH |
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Reported (GAAP)
|
| | | $ | 2,203.2 | | | | | $ | 1,677.8 | | | | | $ | 1,869.6 | | | | | $ | 1,413.6 | | | | | $ | 2,559.6 | | | | | $ | 1,928.0 | | | | | $ | 2,585.8 | | | | | $ | 1,902.3 | | | | | $ | 2,105.1 | | | | | $ | 1,569.4 | | |
Amortization of acquisition-related inventory step-up
costs |
| | | | 18.2 | | | | | | 14.0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Acquisition-related expenses
|
| | | | 115.4 | | | | | | 95.7 | | | | | | 18.4 | | | | | | 16.2 | | | | | | 34.6 | | | | | | 30.2 | | | | | | 21.5 | | | | | | 18.4 | | | | | | 70.4 | | | | | | 57.3 | | |
Gain on bargain purchase acquisition
|
| | | | — | | | | | | — | | | | | | — | | | | | | (5.4) | | | | | | — | | | | | | (5.4) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Excess tax benefits related to stock-based compensation
|
| | | | — | | | | | | (82.0) | | | | | | — | | | | | | (67.3) | | | | | | — | | | | | | (82.4) | | | | | | — | | | | | | (56.0) | | | | | | — | | | | | | (63.4) | | |
Discrete tax items
|
| | | | — | | | | | | (18.6) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (14.9) | | |
Adjusted (non-GAAP)(1)
|
| | | $ | 2,336.8 | | | | | $ | 1,686.9 | | | | | $ | 1,888.0 | | | | | $ | 1,357.1 | | | | | $ | 2,594.2 | | | | | $ | 1,870.4 | | | | | $ | 2,607.3 | | | | | $ | 1,864.7 | | | | | $ | 2,175.5 | | | | | $ | 1,548.4 | | |
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As of
September 30, 2024 |
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(In millions)
|
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Historical
|
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As Adjusted
|
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Cash and cash equivalents
|
| | | $ | 1,563.0 | | | | | $ | 3,040.4 | | |
Indebtedness(a): | | | | | | | | | | | | | |
Short-term borrowings including obligations under capital leases: | | | | | | | | | | | | | |
2.050% Senior Notes due 2025
|
| | | | 399.9 | | | | | | 399.9 | | |
Other
|
| | | | 3.5 | | | | | | 3.5 | | |
Short-term deferred debt issuance costs
|
| | | | (0.3) | | | | | | (0.3) | | |
Total short-term borrowings
|
| | | $ | 403.1 | | | | | $ | 403.1 | | |
Long-term debt including obligations under capital lease: | | | | | | | | | | | | | |
Revolving credit facility
|
| | | $ | — | | | | | $ | — | | |
U.S. Commercial Paper Program
|
| | | | — | | | | | | — | | |
Euro Commercial Paper Program issued by Amphenol Technologies
Holding GmbH(b) |
| | | | — | | | | | | — | | |
4.750% Senior Notes due 2026
|
| | | | 349.4 | | | | | | 349.4 | | |
5.050% Senior Notes due 2029
|
| | | | 449.6 | | | | | | 449.6 | | |
4.350% Senior Notes due 2029
|
| | | | 499.8 | | | | | | 499.8 | | |
2.800% Senior Notes due 2030
|
| | | | 899.6 | | | | | | 899.6 | | |
2.200% Senior Notes due 2031
|
| | | | 748.1 | | | | | | 748.1 | | |
5.250% Senior Notes due 2034
|
| | | | 599.4 | | | | | | 599.4 | | |
0.750% Euro Senior Notes due 2026 of Amphenol Technologies Holding GmbH(b)
|
| | | | 556.6 | | | | | | 556.6 | | |
2.000% Euro Senior Notes due 2028 of Amphenol Technologies Holding GmbH(b)
|
| | | | 556.1 | | | | | | 556.1 | | |
5.050% Senior Notes due 2027 offered hereby
|
| | | | 449.6 | | | | | | 702.4 | | |
5.000% Senior Notes due 2035 offered hereby
|
| | | | — | | | | | | 746.3 | | |
5.375% Senior Notes due 2054 offered hereby
|
| | | | — | | | | | | 492.1 | | |
Other
|
| | | | 3.0 | | | | | | 3.0 | | |
Long-term deferred debt issuance costs
|
| | | | (30.2) | | | | | | (44.0) | | |
Total long-term debt
|
| | | $ | 5,081.0 | | | | | $ | 6,558.4 | | |
Total indebtedness
|
| | | $ | 5,484.1 | | | | | $ | 6,961.5 | | |
Total equity
|
| | | $ | 9,506.1 | | | | | $ | 9,506.1 | | |
Total capitalization
|
| | | $ | 14,990.2 | | | | | $ | 16,467.6 | | |
Underwriters
|
| |
Principal
Amount of 2027 Notes |
| |
Principal
Amount of 2035 Notes |
| |
Principal
Amount of 2054 Notes |
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Barclays Capital Inc.
|
| | | $ | 30,625,000 | | | | | $ | 91,875,000 | | | | | $ | 61,250,000 | | |
BNP Paribas Securities Corp.
|
| | | | 30,625,000 | | | | | | 91,875,000 | | | | | | 61,250,000 | | |
BofA Securities, Inc.
|
| | | | 30,625,000 | | | | | | 91,875,000 | | | | | | 61,250,000 | | |
HSBC Securities (USA) Inc.
|
| | | | 30,625,000 | | | | | | 91,875,000 | | | | | | 61,250,000 | | |
Citigroup Global Markets Inc.
|
| | | | 18,750,000 | | | | | | 56,250,000 | | | | | | 37,500,000 | | |
J.P. Morgan Securities LLC
|
| | | | 18,750,000 | | | | | | 56,250,000 | | | | | | 37,500,000 | | |
Mizuho Securities USA LLC
|
| | | | 18,750,000 | | | | | | 56,250,000 | | | | | | 37,500,000 | | |
Commerz Markets LLC
|
| | | | 13,750,000 | | | | | | 41,250,000 | | | | | | 27,500,000 | | |
Goldman Sachs & Co. LLC
|
| | | | 13,750,000 | | | | | | 41,250,000 | | | | | | 27,500,000 | | |
TD Securities (USA) LLC
|
| | | | 13,750,000 | | | | | | 41,250,000 | | | | | | 27,500,000 | | |
ING Financial Markets LLC
|
| | | | 5,000,000 | | | | | | 15,000,000 | | | | | | 10,000,000 | | |
Loop Capital Markets LLC
|
| | | | 5,000,000 | | | | | | 15,000,000 | | | | | | 10,000,000 | | |
Siebert Williams Shank & Co., LLC
|
| | | | 10,000,000 | | | | | | 30,000,000 | | | | | | 20,000,000 | | |
Standard Chartered Bank
|
| | | | 5,000,000 | | | | | | 15,000,000 | | | | | | 10,000,000 | | |
U.S. Bancorp Investments, Inc.
|
| | | | 5,000,000 | | | | | | 15,000,000 | | | | | | 10,000,000 | | |
Total
|
| | | $ | 250,000,000 | | | | | $ | 750,000,000 | | | | | $ | 500,000,000 | | |
| | |
Underwriting Discount
Paid by the Company |
| |||||||||
| | |
Per note
|
| |
Total
|
| ||||||
2027 notes
|
| | | | 0.400% | | | | | $ | 1,000,000 | | |
2035 notes
|
| | | | 0.650% | | | | | $ | 4,875,000 | | |
2054 notes
|
| | | | 0.875% | | | | | $ | 4,375,000 | | |
Combined Total
|
| | | | | | | | | $ | 10,250,000 | | |
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Amphenol Corporation
358 Hall Avenue
Wallingford, Connecticut 06492
Telephone No: (203) 265-8900
|
Barclays
|
| |
BNP PARIBAS
|
| |
BofA Securities
|
| |
HSBC
|
|
|
Citigroup
|
| |
J.P. Morgan
|
| |
Mizuho
|
|
|
COMMERZBANK
|
| |
Goldman Sachs & Co. LLC
|
| |
TD Securities
|
|
|
ING
|
| |
Loop Capital Markets
|
| |
Siebert Williams Shank
|
| |
Standard Chartered Bank
|
| |
US Bancorp
|
|