TE Connectivity (TEL) 10-Q28 Jul 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Jul. 21, 2023
Document and Entity Information
Entity Registrant Name	TE CONNECTIVITY LTD.
Entity Central Index Key	0001385157
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-33260
Entity Incorporation, State or Country Code	V8
Entity Tax Identification Number	98-0518048
Entity Address, Address Line One	Mühlenstrasse 26
Entity Address, City or Town	Schaffhausen
Entity Address, Country	CH
Entity Address, Postal Zip Code	CH-8200
Country Region	+41
City Area Code	(0)52
Local Phone Number	633 66 61
Title of 12(b) Security	Common Shares, Par Value CHF 0.57
Trading Symbol	TEL
Security Exchange Name	NYSE
Amendment Flag	false
Current Fiscal Year End Date	--09-29
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		313,938,622
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 3,998	$ 4,097	$ 11,999	$ 11,922
Cost of sales	2,699	2,769	8,229	8,027
Gross margin	1,299	1,328	3,770	3,895
Selling, general, and administrative expenses	431	393	1,258	1,172
Research, development, and engineering expenses	176	179	534	539
Acquisition and integration costs	9	11	26	29
Restructuring and other charges, net	53	26	283	59
Operating income	630	719	1,669	2,096
Interest income	18	3	39	9
Interest expense	(20)	(18)	(61)	(48)
Other income (expense), net	(4)	4	(13)	24
Income from continuing operations before income taxes	624	708	1,634	2,081
Income tax expense	(96)	(116)	(283)	(362)
Income from continuing operations	528	592	1,351	1,719
Income from discontinued operations, net of income taxes		2	7	1
Net income	$ 528	$ 594	$ 1,358	$ 1,720
Basic earnings per share:
Income from continuing operations (in dollars per share)	$ 1.68	$ 1.84	$ 4.28	$ 5.31
Income from discontinued operations (in dollars per share)		0.01	0.02
Net income (in dollars per share)	1.68	1.84	4.30	5.31
Diluted earnings per share:
Income from continuing operations (in dollars per share)	1.67	1.83	4.25	5.26
Income from discontinued operations (in dollars per share)		0.01	0.02
Net income (in dollars per share)	$ 1.67	$ 1.83	$ 4.27	$ 5.26
Weighted-average number of shares outstanding:
Basic (in shares)	315	322	316	324
Diluted (in shares)	317	324	318	327

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 528	$ 594	$ 1,358	$ 1,720
Other comprehensive income (loss):
Currency translation	(25)	(225)	358	(216)
Adjustments to unrecognized pension and postretirement benefit costs, net of income taxes	1	4	4	12
Gains (losses) on cash flow hedges, net of income taxes	(42)	(112)	65	(65)
Other comprehensive income (loss)	(66)	(333)	427	(269)
Comprehensive income	462	261	1,785	1,451
Less: comprehensive (income) loss attributable to noncontrolling interests	(1)	4	(12)	11
Comprehensive income attributable to TE Connectivity Ltd.	$ 461	$ 265	$ 1,773	$ 1,462

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Current assets:
Cash and cash equivalents	$ 1,131	$ 1,088
Accounts receivable, net of allowance for doubtful accounts of $42 and $45, respectively	2,998	2,865
Inventories	2,801	2,676
Prepaid expenses and other current assets	719	639
Total current assets	7,649	7,268
Property, plant, and equipment, net	3,781	3,567
Goodwill	5,528	5,258
Intangible assets, net	1,242	1,288
Deferred income taxes	2,680	2,498
Other assets	821	903
Total assets	21,701	20,782
Current liabilities:
Short-term debt	291	914
Accounts payable	1,616	1,593
Accrued and other current liabilities	2,351	2,125
Total current liabilities	4,258	4,632
Long-term debt	3,915	3,292
Long-term pension and postretirement liabilities	735	695
Deferred income taxes	211	244
Income taxes	335	304
Other liabilities	791	718
Total liabilities	10,245	9,885
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests	107	95
Shareholders' equity:
Common shares, CHF 0.57 par value, 322,470,281 shares authorized and issued, and 330,830,781 shares authorized and issued, respectively	142	146
Accumulated earnings	12,372	12,832
Treasury shares, at cost, 8,271,688 and 12,749,540 shares, respectively	(1,085)	(1,681)
Accumulated other comprehensive loss	(80)	(495)
Total shareholders' equity	11,349	10,802
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$ 21,701	$ 20,782

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Millions	Jun. 30, 2023 USD ($) shares	Jun. 30, 2023 SFr / shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2022 SFr / shares
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars) \| $	$ 42		$ 45
Common shares, par value (in currency per share) \| SFr / shares		SFr 0.57		SFr 0.57
Common shares, shares authorized	322,470,281		330,830,781
Common shares, shares issued	322,470,281		330,830,781
Treasury shares	8,271,688		12,749,540

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Common Shares	Treasury Shares	Contributed Surplus	Accumulated Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Sep. 24, 2021	$ 148	$ (1,055)		$ 11,709	$ (168)	$ 10,634
Balance (in shares) at Sep. 24, 2021	336,000,000
Treasury Stock balance (in shares) at Sep. 24, 2021		(9,000,000)
Increase (Decrease) in Shareholders' Equity:
Net income				1,720		1,720
Other comprehensive income (loss)					(258)	(258)
Share-based compensation expense			$ 88			88
Dividends				(717)		(717)
Exercise of share options		$ 34				34
Restricted share award vestings and other activity		$ 14	(88)	79		5
Restricted share award vestings and other activity (in shares)		2,000,000
Repurchase of common shares		$ (1,072)				$ (1,072)
Repurchase of common shares (in shares)		(8,000,000)				(8,000,000)
Cancellation of treasury shares	$ (2)	$ 709		(707)
Cancellation of treasury shares (in shares)	(5,000,000)	5,000,000
Balance at Jun. 24, 2022	$ 146	$ (1,370)		12,084	(426)	$ 10,434
Treasury Stock balance (in shares) at Jun. 24, 2022		(10,000,000)
Balance (in shares) at Jun. 24, 2022	331,000,000
Balance at Mar. 25, 2022	$ 148	$ (1,769)		12,160	(97)	10,442
Balance (in shares) at Mar. 25, 2022	336,000,000
Treasury Stock balance (in shares) at Mar. 25, 2022		(13,000,000)
Increase (Decrease) in Shareholders' Equity:
Net income				594		594
Other comprehensive income (loss)					(329)	(329)
Share-based compensation expense			28			28
Dividends				5		5
Exercise of share options		$ 4				4
Restricted share award vestings and other activity		$ 6	(28)	32		10
Restricted share award vestings and other activity (in shares)		1,000,000
Repurchase of common shares		$ (320)				(320)
Repurchase of common shares (in shares)		(3,000,000)
Cancellation of treasury shares	$ (2)	$ 709		(707)
Cancellation of treasury shares (in shares)	(5,000,000)	5,000,000
Balance at Jun. 24, 2022	$ 146	$ (1,370)		12,084	(426)	10,434
Treasury Stock balance (in shares) at Jun. 24, 2022		(10,000,000)
Balance (in shares) at Jun. 24, 2022	331,000,000
Balance at Sep. 30, 2022	$ 146	$ (1,681)		12,832	(495)	$ 10,802
Balance (in shares) at Sep. 30, 2022	331,000,000
Treasury Stock balance (in shares) at Sep. 30, 2022		(13,000,000)				12,749,540
Increase (Decrease) in Shareholders' Equity:
Net income				1,358		$ 1,358
Other comprehensive income (loss)					415	415
Share-based compensation expense			95			95
Dividends				(740)		(740)
Exercise of share options		$ 33				33
Restricted share award vestings and other activity		$ 89	(95)	13		7
Restricted share award vestings and other activity (in shares)		1,000,000
Repurchase of common shares		$ (621)				$ (621)
Repurchase of common shares (in shares)		(5,000,000)				(5,000,000)
Cancellation of treasury shares	$ (4)	$ 1,095		(1,091)
Cancellation of treasury shares (in shares)	(9,000,000)	9,000,000
Balance at Jun. 30, 2023	$ 142	$ (1,085)		12,372	(80)	$ 11,349
Treasury Stock balance (in shares) at Jun. 30, 2023		(8,000,000)				8,271,688
Balance (in shares) at Jun. 30, 2023	322,000,000
Balance at Mar. 31, 2023	$ 142	$ (933)		11,824	(13)	$ 11,020
Balance (in shares) at Mar. 31, 2023	322,000,000
Treasury Stock balance (in shares) at Mar. 31, 2023		(7,000,000)
Increase (Decrease) in Shareholders' Equity:
Net income				528		528
Other comprehensive income (loss)					(67)	(67)
Share-based compensation expense			32			32
Dividends				4		4
Exercise of share options		$ 13				13
Restricted share award vestings and other activity		24	$ (32)	16		8
Repurchase of common shares		$ (189)				(189)
Repurchase of common shares (in shares)		(1,000,000)
Balance at Jun. 30, 2023	$ 142	$ (1,085)		$ 12,372	$ (80)	$ 11,349
Treasury Stock balance (in shares) at Jun. 30, 2023		(8,000,000)				8,271,688
Balance (in shares) at Jun. 30, 2023	322,000,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022
Cash flows from operating activities:
Net income	$ 1,358	$ 1,720
Income from discontinued operations, net of income taxes	(7)	(1)
Income from continuing operations	1,351	1,719
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	594	597
Deferred income taxes	(121)	(18)
Non-cash lease cost	106	98
Provision for losses on accounts receivable and inventories	82	79
Share-based compensation expense	95	88
Impairment of held for sale businesses	67
Other	85	(19)
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net	(202)	(108)
Inventories	(323)	(439)
Prepaid expenses and other current assets	(30)	57
Accounts payable	68	(48)
Accrued and other current liabilities	(14)	(316)
Income taxes	51	53
Other	185	(219)
Net cash provided by operating activities	1,994	1,524
Cash flows from investing activities:
Capital expenditures	(538)	(556)
Proceeds from sale of property, plant, and equipment	3	98
Acquisition of businesses, net of cash acquired	(108)	(116)
Proceeds from divestiture of businesses, net of cash retained by businesses sold	48	16
Other	22	(10)
Net cash used in investing activities	(573)	(568)
Cash flows from financing activities:
Net increase (decrease) in commercial paper	(82)	237
Proceeds from issuance of debt	499	588
Repayment of debt	(591)	(558)
Proceeds from exercise of share options	33	34
Repurchase of common shares	(674)	(1,086)
Payment of common share dividends to shareholders	(541)	(506)
Other	(30)	(39)
Net cash used in financing activities	(1,386)	(1,330)
Effect of currency translation on cash	8	(9)
Net increase (decrease) in cash, cash equivalents, and restricted cash	43	(383)
Cash, cash equivalents, and restricted cash at beginning of fiscal period	1,088	1,203
Cash, cash equivalents, and restricted cash at end of fiscal period	$ 1,131	$ 820

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Jun. 30, 2023
Basis of Presentation
Basis of Presentation	1. Basis of Presentation The unaudited Condensed Consolidated Financial Statements of TE Connectivity Ltd. (“TE Connectivity” or the “Company,” which may be referred to as “we,” “us,” or “our”) have been prepared in United States (“U.S.”) dollars, in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and the instructions to Form 10-Q under the Securities Exchange Act of 1934. In management’s opinion, the unaudited Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary for a fair presentation of interim results. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire fiscal year or any subsequent interim period. The year-end balance sheet data was derived from audited financial statements, but does not include all of the information and disclosures required by GAAP. These financial statements should be read in conjunction with our audited Consolidated Financial Statements contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Unless otherwise indicated, references in the Condensed Consolidated Financial Statements to fiscal 2023 and fiscal 2022 are to our fiscal years ending September 29, 2023 and ended September 30, 2022, respectively.

Restructuring and Other Charges

Restructuring and Other Charges, Net	9 Months Ended
Restructuring and Other Charges, Net	Jun. 30, 2023
Restructuring and Other Charges, Net
Restructuring and Other Charges, Net	2. Restructuring and Other Charges, Net Net restructuring and other charges consisted of the following: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Restructuring charges, net $ 42 $ 26 $ 208 $ 69 Impairment of held for sale businesses and loss (gain) on divestitures, net 10 — 72 (10) Other charges, net 1 — 3 — Restructuring and other charges, net $ 53 $ 26 $ 283 $ 59 Restructuring Charges, Net Net restructuring and related charges by segment were as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Transportation Solutions $ 27 $ 9 $ 119 $ 24 Industrial Solutions 11 11 53 29 Communications Solutions 4 6 36 16 Restructuring charges, net 42 26 208 69 Plus: charges included in cost of sales (1) — 4 — 16 Restructuring and related charges, net $ 42 $ 30 $ 208 $ 85 (1) Charges included in cost of sales were attributable to inventory-related charges within the Industrial Solutions segment. Activity in our restructuring reserves was as follows: Balance at Balance at September 30, Changes in Cash Non-Cash Currency June 30, 2022 Charges Estimate Payments Items Translation 2023 (in millions) Fiscal 2023 Actions: Employee severance $ — $ 192 $ — $ (35) $ — $ 3 $ 160 Facility and other exit costs — 2 — — — — 2 Property, plant, and equipment — 6 — — (6) — — Total — 200 — (35) (6) 3 162 Fiscal 2022 Actions: Employee severance 108 7 (7) (47) — 6 67 Facility and other exit costs 1 7 — (8) — — — Property, plant, and equipment — 1 — — (1) — — Total 109 15 (7) (55) (1) 6 67 Pre-Fiscal 2022 Actions: Employee severance 112 4 (2) (40) — 11 85 Facility and other exit costs 7 — 4 (9) — — 2 Property, plant, and equipment — — (6) — 6 — — Total 119 4 (4) (49) 6 11 87 Total Activity $ 228 $ 219 $ (11) $ (139) $ (1) $ 20 $ 316 Fiscal 2023 Actions During fiscal 2023, we initiated a restructuring program associated with cost structure improvements across all segments. During the nine months ended June 30, 2023, we recorded restructuring charges of $200 million in connection with this program. We expect to complete all restructuring actions commenced during the nine months ended June 30, 2023 by the end of fiscal 2025 and to incur additional charges of approximately $18 million related primarily to employee severance and facility exit costs. The following table summarizes expected, incurred, and remaining charges for the fiscal 2023 program by segment as of June 30, 2023: Total Cumulative Remaining Expected Charges Expected Charges Incurred Charges (in millions) Transportation Solutions $ 127 $ 119 $ 8 Industrial Solutions 63 54 9 Communications Solutions 28 27 1 Total $ 218 $ 200 $ 18 Fiscal 2022 Actions During fiscal 2022, we initiated a restructuring program associated with footprint consolidation and cost structure improvements across all segments. In connection with this program, during the nine months ended June 30, 2023 and June 24, 2022, we recorded net restructuring and related charges of $8 million and $84 million, respectively. We expect to complete all restructuring actions commenced during fiscal 2022 by the end of fiscal 2024 and to incur additional charges of approximately $10 million related primarily to employee severance and facility exit costs. The following table summarizes expected, incurred, and remaining charges for the fiscal 2022 program by segment as of June 30, 2023: Total Cumulative Remaining Expected Charges Expected Charges Incurred Charges (in millions) Transportation Solutions $ 96 $ 90 $ 6 Industrial Solutions 53 52 1 Communications Solutions 30 27 3 Total $ 179 $ 169 $ 10 Pre-Fiscal 2022 Actions During the nine months ended June 24, 2022, we recorded net restructuring charges of $1 million related to pre-fiscal 2022 actions. We expect that any additional charges related to restructuring actions commenced prior to fiscal 2022 will be insignificant. Total Restructuring Reserves Restructuring reserves included on the Condensed Consolidated Balance Sheets were as follows: June 30, September 30, 2023 2022 (in millions) Accrued and other current liabilities $ 276 $ 182 Other liabilities 40 46 Restructuring reserves $ 316 $ 228 Divestitures During the nine months ended June 30, 2023, we sold three businesses for net cash proceeds of $48 million. In connection with the divestitures, we recorded pre-tax impairment charges and a net pre-tax loss on sales, which totaled to a net charge of $12 million. The businesses sold were reported in our Industrial Solutions segment. Additionally, during the nine months ended June 30, 2023, we recorded a pre-tax impairment charge of $60 million in connection with a held for sale business in the Transportation Solutions segment. During the nine months ended June 24, 2022, we sold two businesses for net cash proceeds of $16 million and recognized a net pre-tax gain of $10 million on the transactions. The businesses sold were reported in our Transportation Solutions and Industrial Solutions segments.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Jun. 30, 2023
Acquisitions
Acquisitions	3. Acquisitions During the nine months ended June 30, 2023, we acquired one business for a cash purchase price of $108 million, net of cash acquired. The acquisition was reported as part of our Industrial Solutions segment from the date of acquisition. We acquired two businesses for a combined cash purchase price of $141 million, net of cash acquired, during the nine months ended June 24, 2022. The acquisitions were reported as part of our Communications Solutions segment from the date of acquisition. Also during the nine months ended June 24, 2022, we finalized the purchase price allocation of certain fiscal 2021 acquisitions, which included the recognition of $25 million of cash acquired.

Inventories

Inventories	9 Months Ended
Inventories	Jun. 30, 2023
Inventories
Inventories	4. Inventories Inventories consisted of the following: June 30, September 30, 2023 2022 (in millions) Raw materials $ 404 $ 390 Work in progress 1,300 1,066 Finished goods 1,097 1,220 Inventories $ 2,801 $ 2,676

Goodwill

Goodwill	9 Months Ended
Goodwill	Jun. 30, 2023
Goodwill
Goodwill	5. Goodwill The changes in the carrying amount of goodwill by segment were as follows: Transportation Industrial Communications Solutions Solutions Solutions Total (in millions) September 30, 2022 (1) $ 1,439 $ 3,118 $ 701 $ 5,258 Acquisition — 72 — 72 Currency translation and other 57 111 30 198 June 30, 2023 (1) $ 1,496 $ 3,301 $ 731 $ 5,528 (1) At June 30, 2023 and September 30, 2022, accumulated impairment losses for the Transportation Solutions, Industrial Solutions, and Communications Solutions segments were $3,091 million, $669 million, and $489 million, respectively. During the nine months ended June 30, 2023, we recognized goodwill in the Industrial Solutions segment in connection with a recent acquisition. See Note 3 for additional information regarding acquisitions.

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
Intangible Assets, Net	Jun. 30, 2023
Intangible Assets, Net
Intangible Assets, Net	6. Intangible Assets, Net Intangible assets consisted of the following: June 30, 2023 September 30, 2022 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount (in millions) Customer relationships $ 1,754 $ (797) $ 957 $ 1,642 $ (687) $ 955 Intellectual property 1,203 (931) 272 1,174 (852) 322 Other 19 (6) 13 16 (5) 11 Total $ 2,976 $ (1,734) $ 1,242 $ 2,832 $ (1,544) $ 1,288 Intangible asset amortization expense was $46 million and $48 million for the quarters ended June 30, 2023 and June 24, 2022, respectively, and $141 million and $145 million for the nine months ended June 30, 2023 and June 24, 2022, respectively. At June 30, 2023, the aggregate amortization expense on intangible assets is expected to be as follows: (in millions) Remainder of fiscal 2023 $ 48 Fiscal 2024 166 Fiscal 2025 149 Fiscal 2026 145 Fiscal 2027 126 Fiscal 2028 94 Thereafter 514 Total $ 1,242

Debt

Debt	9 Months Ended
Debt	Jun. 30, 2023
Debt
Debt	7. Debt During the nine months ended June 30, 2023, Tyco Electronics Group S.A. (“TEGSA”), our wholly-owned subsidiary, issued $500 million aggregate principal amount of 4.50% senior notes due in February 2026. The notes are TEGSA’s unsecured senior obligations and rank equally in right of payment with all existing and any future senior indebtedness of TEGSA and senior to any subordinated indebtedness that TEGSA may incur. The notes are fully and unconditionally guaranteed as to payment on an unsecured basis by TE Connectivity Ltd. During the nine months ended June 30, 2023, TEGSA repaid, at maturity, €550 million of 1.10% senior notes due in March 2023. As of June 30, 2023, TEGSA had $288 million of commercial paper outstanding at a weighted-average interest rate of 5.3%. TEGSA had $370 million of commercial paper outstanding at a weighted-average interest rate of 3.45% at September 30, 2022. The fair value of our debt, based on indicative valuations, was approximately $4,017 million and $3,990 million at June 30, 2023 and September 30, 2022, respectively.

Leases

Leases	9 Months Ended
Leases	Jun. 30, 2023
Leases
Leases	8. Leases The components of lease cost were as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Operating lease cost $ 36 $ 34 $ 106 $ 98 Variable lease cost 15 15 40 40 Total lease cost $ 51 $ 49 $ 146 $ 138 Cash flow information, including significant non-cash transactions, related to leases was as follows: For the Nine Months Ended June 30, June 24, 2023 2022 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Payments for operating leases (1) $ 94 $ 92 Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities 82 102 (1) These payments are included in cash flows from operating activities, primarily in changes in accrued and other current liabilities.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies
Commitments and Contingencies	9. Commitments and Contingencies Legal Proceedings In the normal course of business, we are subject to various legal proceedings and claims, including patent infringement claims, product liability matters, employment disputes, disputes on agreements, other commercial disputes, environmental matters, antitrust claims, and tax matters, including non-income tax matters such as value added tax, sales and use tax, real estate tax, and transfer tax. Although it is not feasible to predict the outcome of these proceedings, based upon our experience, current information, and applicable law, we do not expect that the outcome of these proceedings, either individually or in the aggregate, will have a material effect on our results of operations, financial position, or cash flows. Trade Compliance Matters We have been investigating our past compliance with relevant U.S. trade controls and have made voluntary disclosures of apparent trade controls violations to the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) and the U.S. State Department’s Directorate of Defense Trade Controls (“DDTC”). We are cooperating with the BIS and DDTC on these matters and the resulting investigations are ongoing. We have also been contacted by the U.S. Department of Justice concerning aspects of these matters. We are unable to predict the timing and final outcome of the agencies’ investigations. An unfavorable outcome may include fines or penalties imposed in response to our disclosures, but we are not yet able to reasonably estimate the extent of any such fines or penalties. Although we have reserved for potential fines and penalties relating to these matters based on our current understanding of the facts, the investigations into these matters have yet to be completed and the final outcome of such investigations and related fines and penalties may differ from amounts currently reserved. Environmental Matters We are involved in various stages of investigation and cleanup related to environmental remediation matters at a number of sites. The ultimate cost of site cleanup is difficult to predict given the uncertainties regarding the extent of the required cleanup, the interpretation of applicable laws and regulations, and alternative cleanup methods. As of June 30, 2023, we concluded that we would incur investigation and remediation costs at these sites in the reasonably possible range of $16 million to $44 million, and we accrued $20 million as the probable loss, which was the best estimate within this range. We believe that any potential payment of such estimated amounts will not have a material adverse effect on our results of operations, financial position, or cash flows. Guarantees In disposing of assets or businesses, we often provide representations, warranties, and/or indemnities to cover various risks including unknown damage to assets, environmental risks involved in the sale of real estate, liability for investigation and remediation of environmental contamination at waste disposal sites and manufacturing facilities, and unidentified tax liabilities and legal fees related to periods prior to disposition. We do not expect that these uncertainties will have a material adverse effect on our results of operations, financial position, or cash flows. At June 30, 2023, we had outstanding letters of credit, letters of guarantee, and surety bonds of $174 million, excluding those related to our former Subsea Communications (“SubCom”) business which are discussed below. During fiscal 2019, we sold our SubCom business. In connection with the sale, we contractually agreed to continue to honor performance guarantees and letters of credit related to the SubCom business’ projects that existed as of the date of sale. These performance guarantees and letters of credit had a combined value of approximately $58 million as of June 30, 2023 and are expected to expire at various dates through fiscal 2027. We have contractual recourse against the SubCom business if we are required to perform on any SubCom guarantees; however, based on historical experience, we do not anticipate having to perform.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Jun. 30, 2023
Financial Instruments
Financial Instruments	10. Financial Instruments Foreign Currency Exchange Rate Risk We may utilize cross-currency swap contracts to reduce our exposure to foreign currency exchange rate risk associated with certain intercompany loans. As of fiscal year end 2022, all such cross-currency swap contracts had been terminated or matured and were settled; additionally, all related collateral positions were settled. The impacts of these cross-currency swap contracts were as follows: For the For the Quarter Ended Nine Months Ended June 24, June 24, 2022 2022 (in millions) Losses recorded in other comprehensive income (loss) $ (1) $ (6) Gains excluded from the hedging relationship (1) 13 52 (1) Gains excluded from the hedging relationship are recognized prospectively in selling, general, and administrative expenses and are offset by losses generated as a result of re-measuring certain intercompany loans to the U.S. dollar. Hedge of Net Investment We hedge our net investment in certain foreign operations using intercompany loans and external borrowings denominated in the same currencies. The aggregate notional value of these hedges was $2,108 million and $1,658 million at June 30, 2023 and September 30, 2022, respectively. We also use a cross-currency swap program to hedge our net investment in certain foreign operations. The aggregate notional value of the contracts under this program was $3,815 million and $1,873 million at June 30, 2023 and September 30, 2022, respectively. Under the terms of these contracts, we receive interest in U.S. dollars at a weighted-average rate of 1.60% per annum and pay no interest. Upon the maturity of these contracts at various dates through fiscal 2027, we will pay the notional value of the contracts in the designated foreign currency and receive U.S. dollars from our counterparties. We are not required to provide collateral for these contracts. These cross-currency swap contracts were recorded on the Condensed Consolidated Balance Sheets as follows: June 30, September 30, 2023 2022 (in millions) Prepaid expenses and other current assets $ 74 $ 55 Other assets 68 172 Accrued and other current liabilities 7 — Other liabilities 33 — The impacts of our hedge of net investment programs were as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Foreign currency exchange gains (losses) on intercompany loans and external borrowings (1) $ 8 $ 156 $ (208) $ 344 Gains (losses) on cross-currency swap contracts designated as hedges of net investment (1) 46 78 (110) 148 (1) Recorded as currency translation, a component of accumulated other comprehensive income (loss), and offset by changes attributable to the translation of the net investment. Interest Rate Risk Management We may utilize forward starting interest rate swap contracts to manage interest rate exposure in periods prior to the anticipated issuance of fixed rate debt. During fiscal 2022, we terminated forward starting interest rate swap contracts as a result of the issuance of our 2.50% senior notes due in 2032. The impacts of these forward starting interest rate swap contracts were as follows: For the For the Quarter Ended Nine Months Ended June 24, June 24, 2022 2022 (in millions) Gains recorded in other comprehensive income (loss) $ — $ 13 Commodity Hedges As part of managing the exposure to certain commodity price fluctuations, we utilize commodity swap contracts. The objective of these contracts is to minimize impacts to cash flows and profitability due to changes in prices of commodities used in production. These contracts had an aggregate notional value of $485 million and $566 million at June 30, 2023 and September 30, 2022, respectively, and were designated as cash flow hedges. These commodity swap contracts were recorded on the Condensed Consolidated Balance Sheets as follows: June 30, September 30, 2023 2022 (in millions) Prepaid expenses and other current assets $ 6 $ 2 Accrued and other current liabilities 23 77 Other liabilities 5 7 The impacts of these commodity swap contracts were as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Gains (losses) recorded in other comprehensive income (loss) $ (42) $ (106) $ 36 $ (45) Gains (losses) reclassified from accumulated other comprehensive income (loss) into cost of sales 3 15 (35) 35 We expect that significantly all of the balance in accumulated other comprehensive income (loss) associated with commodity hedges will be reclassified into the Condensed Consolidated Statement of Operations within the next twelve months.

Retirement Plans

Retirement Plans	9 Months Ended
Retirement Plans	Jun. 30, 2023
Retirement Plans
Retirement Plans	11. Retirement Plans The net periodic pension benefit cost (credit) for all non-U.S. and U.S. defined benefit pension plans was as follows: Non-U.S. Plans U.S. Plans For the For the Quarters Ended Quarters Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Operating expense: Service cost $ 7 $ 11 $ 3 $ 2 Other (income) expense: Interest cost 14 8 10 7 Expected returns on plan assets (12) (15) (10) (11) Amortization of net actuarial loss 1 6 1 — Amortization of prior service credit (1) (1) — — Net periodic pension benefit cost (credit) $ 9 $ 9 $ 4 $ (2) Non-U.S. Plans U.S. Plans For the For the Nine Months Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Operating expense: Service cost $ 20 $ 31 $ 7 $ 6 Other (income) expense: Interest cost 42 25 29 20 Expected returns on plan assets (34) (44) (29) (35) Amortization of net actuarial loss 4 19 3 2 Amortization of prior service credit (3) (4) — — Net periodic pension benefit cost (credit) $ 29 $ 27 $ 10 $ (7) During the nine months ended June 30, 2023, we contributed $58 million to our non-U.S. pension plans.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Jun. 30, 2023
Income Taxes
Income Taxes	12. Income Taxes We recorded income tax expense of $96 million and $116 million for the quarters ended June 30, 2023 and June 24, 2022, respectively. The income tax expense for the quarter ended June 30, 2023 included a $19 million net income tax benefit related to a recent divestiture. The income tax expense for the quarter ended June 24, 2022 included a $21 million income tax benefit related to the tax impacts of an intercompany transaction. We recorded income tax expense of $283 million and $362 million for the nine months ended June 30, 2023 and June 24, 2022, respectively. The income tax expense for the nine months ended June 30, 2023 included a $19 million net income tax benefit related to a recent divestiture. The income tax expense for the nine months ended June 24, 2022 included a $57 million income tax benefit related to the tax impacts of the intercompany transaction discussed above and $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen. In addition, the income tax expense for the nine months ended June 24, 2022 included $12 million of income tax expense related to an income tax audit of an acquired entity. As we are entitled to indemnification of pre-acquisition period tax obligations under the terms of the purchase agreement, we recorded an associated indemnification receivable and other income of $11 million during the nine months ended June 24, 2022. During the nine months ended June 30, 2023, we completed tax returns for certain non-U.S. entities which resulted in the recognition of additional deferred tax assets for tax loss carryforwards of $313 million. As we do not expect these subsidiaries to generate sufficient future taxable income to realize the deferred tax assets, we recognized a corresponding increase to the valuation allowance. Accordingly, there was no impact to the Condensed Consolidated Statement of Operations for the nine months ended June 30, 2023 or Condensed Consolidated Balance Sheet as of June 30, 2023. Although it is difficult to predict the timing or results of our worldwide examinations, we estimate that, as of June 30, 2023, approximately $20 million of unrecognized income tax benefits, excluding the impact relating to accrued interest and penalties, could be resolved within the next twelve months. We are not aware of any other matters that would result in significant changes to the amount of unrecognized income tax benefits reflected on the Condensed Consolidated Balance Sheet as of June 30, 2023.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Jun. 30, 2023
Earnings Per Share
Earnings Per Share	13. Earnings Per Share The weighted-average number of shares outstanding used in the computations of basic and diluted earnings per share were as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Basic 315 322 316 324 Dilutive impact of share-based compensation arrangements 2 2 2 3 Diluted 317 324 318 327 The following share options were not included in the computation of diluted earnings per share because the instruments’ underlying exercise prices were greater than the average market prices of our common shares and inclusion would be antidilutive: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Antidilutive share options 1 1 1 1

Shareholders' Equity

Shareholders' Equity	9 Months Ended
Shareholders' Equity	Jun. 30, 2023
Shareholders' Equity
Shareholder' Equity	14. Shareholders’ Equity Common Shares In March 2023, our shareholders approved, for a period of one year ending March 15, 2024, our board of directors’ authorization to issue additional new shares to a maximum of 120% and/or reduce shares to a minimum of 80% of the existing share capital, subject to certain conditions specified in our articles of association. Common Shares Held in Treasury In March 2023, our shareholders approved the cancellation of approximately eight and a half Dividends We paid cash dividends to shareholders as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 Dividends paid per common share $ 0.59 $ 0.56 $ 1.71 $ 1.56 In March 2023, our shareholders approved a dividend payment to shareholders of $2.36 per share, payable in four equal quarterly installments of $0.59 per share beginning in the third quarter of fiscal 2023 and ending in the second quarter of fiscal 2024. Upon shareholders’ approval of a dividend payment, we record a liability with a corresponding charge to shareholders’ equity. At June 30, 2023 and September 30, 2022, the unpaid portion of the dividends recorded in accrued and other current liabilities on the Condensed Consolidated Balance Sheets totaled $555 million and $356 million, respectively. Share Repurchase Program Common shares repurchased under the share repurchase program were as follows: For the Nine Months Ended June 30, June 24, 2023 2022 (in millions) Number of common shares repurchased 5 8 Repurchase value $ 621 $ 1,072 At June 30, 2023, we had $1.1 billion of availability remaining under our share repurchase authorization.

Share Plans

Share Plans	9 Months Ended
Share Plans	Jun. 30, 2023
Share Plans
Share Plans	15. Share Plans Share-based compensation expense, which was included in selling, general, and administrative expenses on the Condensed Consolidated Statements of Operations, was as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Share-based compensation expense $ 32 $ 28 $ 95 $ 88 As of June 30, 2023, there was $162 million of unrecognized compensation expense related to share-based awards, which is expected to be recognized over a weighted-average period of 1.6 years. During the quarter ended December 30, 2022, we granted the following share-based awards as part of our annual incentive plan grant: Grant-Date Shares Fair Value (in millions) Share options 0.9 $ 35.79 Restricted share awards 0.4 124.52 Performance share awards 0.2 124.52 As of June 30, 2023, we had eight million shares available for issuance under the TE Connectivity Ltd. 2007 Stock and Incentive Plan, amended and restated as of September 17, 2020. Share-Based Compensation Assumptions The assumptions we used in the Black-Scholes-Merton option pricing model for the options granted as part of our annual incentive plan grant were as follows: Expected share price volatility 31 % Risk-free interest rate 4.0 % Expected annual dividend per share $ 2.24 Expected life of options (in years) 5.1

Segment and Geographic Data

Segment and Geographic Data	9 Months Ended
Segment and Geographic Data	Jun. 30, 2023
Segment and Geographic Data
Segment and Geographic Data	16. Segment and Geographic Data Effective for fiscal 2023, we realigned certain product lines from the Industrial Solutions segment to the Communications Solutions segment. We continue to operate through three reporting segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The following segment information reflects our current segment reporting structure. Prior period segment results have been restated to conform to the current segment reporting structure. As a result of the realignment, $22 million million Net sales by segment (1) (2) For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Transportation Solutions: Automotive $ 1,747 $ 1,629 $ 5,191 $ 4,802 Commercial transportation 403 400 1,156 1,159 Sensors 283 271 828 811 Total Transportation Solutions 2,433 2,300 7,175 6,772 Industrial Solutions: Industrial equipment 423 471 1,318 1,391 Aerospace, defense, and marine 293 271 855 774 Energy 230 207 652 579 Medical 195 177 567 502 Total Industrial Solutions 1,141 1,126 3,392 3,246 Communications Solutions: Data and devices 252 425 869 1,173 Appliances 172 246 563 731 Total Communications Solutions 424 671 1,432 1,904 Total $ 3,998 $ 4,097 $ 11,999 $ 11,922 (1) Intersegment sales were not material. (2) Industry end market information is presented consistently with our internal management reporting and may be revised periodically as management deems necessary. Net sales by geographic region (1) For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Asia–Pacific: Transportation Solutions $ 813 $ 825 $ 2,598 $ 2,636 Industrial Solutions 182 200 567 599 Communications Solutions 220 377 756 1,048 Total Asia–Pacific 1,215 1,402 3,921 4,283 Europe/Middle East/Africa (“EMEA”): Transportation Solutions 1,011 894 2,869 2,564 Industrial Solutions 529 469 1,500 1,362 Communications Solutions 70 85 234 269 Total EMEA 1,610 1,448 4,603 4,195 Americas: Transportation Solutions 609 581 1,708 1,572 Industrial Solutions 430 457 1,325 1,285 Communications Solutions 134 209 442 587 Total Americas 1,173 1,247 3,475 3,444 Total $ 3,998 $ 4,097 $ 11,999 $ 11,922 (1) Net sales to external customers are attributed to individual countries based on the legal entity that records the sale. Operating income by segment was as follows: For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Transportation Solutions $ 425 $ 383 $ 1,040 $ 1,187 Industrial Solutions 150 165 440 430 Communications Solutions 55 171 189 479 Total $ 630 $ 719 $ 1,669 $ 2,096

Restructuring and Other Charg_2

Restructuring and Other Charges, Net (Tables)	9 Months Ended
Restructuring and Other Charges, Net (Tables)	Jun. 30, 2023
Restructuring and Other Charges, Net
Schedule of net restructuring and other charges	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Restructuring charges, net $ 42 $ 26 $ 208 $ 69 Impairment of held for sale businesses and loss (gain) on divestitures, net 10 — 72 (10) Other charges, net 1 — 3 — Restructuring and other charges, net $ 53 $ 26 $ 283 $ 59
Net restructuring and related charges by segment	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Transportation Solutions $ 27 $ 9 $ 119 $ 24 Industrial Solutions 11 11 53 29 Communications Solutions 4 6 36 16 Restructuring charges, net 42 26 208 69 Plus: charges included in cost of sales (1) — 4 — 16 Restructuring and related charges, net $ 42 $ 30 $ 208 $ 85 (1) Charges included in cost of sales were attributable to inventory-related charges within the Industrial Solutions segment.
Summary of activity in restructuring reserves	Balance at Balance at September 30, Changes in Cash Non-Cash Currency June 30, 2022 Charges Estimate Payments Items Translation 2023 (in millions) Fiscal 2023 Actions: Employee severance $ — $ 192 $ — $ (35) $ — $ 3 $ 160 Facility and other exit costs — 2 — — — — 2 Property, plant, and equipment — 6 — — (6) — — Total — 200 — (35) (6) 3 162 Fiscal 2022 Actions: Employee severance 108 7 (7) (47) — 6 67 Facility and other exit costs 1 7 — (8) — — — Property, plant, and equipment — 1 — — (1) — — Total 109 15 (7) (55) (1) 6 67 Pre-Fiscal 2022 Actions: Employee severance 112 4 (2) (40) — 11 85 Facility and other exit costs 7 — 4 (9) — — 2 Property, plant, and equipment — — (6) — 6 — — Total 119 4 (4) (49) 6 11 87 Total Activity $ 228 $ 219 $ (11) $ (139) $ (1) $ 20 $ 316
Restructuring reserves included on Consolidated Balance Sheets	June 30, September 30, 2023 2022 (in millions) Accrued and other current liabilities $ 276 $ 182 Other liabilities 40 46 Restructuring reserves $ 316 $ 228
Fiscal 2023 Actions
Restructuring and Other Charges, Net
Schedule of expected, incurred and remaining charges by segment	The following table summarizes expected, incurred, and remaining charges for the fiscal 2023 program by segment as of June 30, 2023: Total Cumulative Remaining Expected Charges Expected Charges Incurred Charges (in millions) Transportation Solutions $ 127 $ 119 $ 8 Industrial Solutions 63 54 9 Communications Solutions 28 27 1 Total $ 218 $ 200 $ 18
Fiscal 2022 Actions [Member]
Restructuring and Other Charges, Net
Schedule of expected, incurred and remaining charges by segment	The following table summarizes expected, incurred, and remaining charges for the fiscal 2022 program by segment as of June 30, 2023: Total Cumulative Remaining Expected Charges Expected Charges Incurred Charges (in millions) Transportation Solutions $ 96 $ 90 $ 6 Industrial Solutions 53 52 1 Communications Solutions 30 27 3 Total $ 179 $ 169 $ 10

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Jun. 30, 2023
Inventories
Schedule of inventories	June 30, September 30, 2023 2022 (in millions) Raw materials $ 404 $ 390 Work in progress 1,300 1,066 Finished goods 1,097 1,220 Inventories $ 2,801 $ 2,676

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
Goodwill (Tables)	Jun. 30, 2023
Goodwill
Changes in the carrying amount of goodwill by segment	Transportation Industrial Communications Solutions Solutions Solutions Total (in millions) September 30, 2022 (1) $ 1,439 $ 3,118 $ 701 $ 5,258 Acquisition — 72 — 72 Currency translation and other 57 111 30 198 June 30, 2023 (1) $ 1,496 $ 3,301 $ 731 $ 5,528 (1) At June 30, 2023 and September 30, 2022, accumulated impairment losses for the Transportation Solutions, Industrial Solutions, and Communications Solutions segments were $3,091 million, $669 million, and $489 million, respectively.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
Intangible Assets, Net (Tables)	Jun. 30, 2023
Intangible Assets, Net
Schedule of finite-lived intangible assets	June 30, 2023 September 30, 2022 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount (in millions) Customer relationships $ 1,754 $ (797) $ 957 $ 1,642 $ (687) $ 955 Intellectual property 1,203 (931) 272 1,174 (852) 322 Other 19 (6) 13 16 (5) 11 Total $ 2,976 $ (1,734) $ 1,242 $ 2,832 $ (1,544) $ 1,288
Schedule of finite-lived intangible assets, future amortization expense	At June 30, 2023, the aggregate amortization expense on intangible assets is expected to be as follows: (in millions) Remainder of fiscal 2023 $ 48 Fiscal 2024 166 Fiscal 2025 149 Fiscal 2026 145 Fiscal 2027 126 Fiscal 2028 94 Thereafter 514 Total $ 1,242

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Jun. 30, 2023
Leases
Schedule of components of lease cost	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Operating lease cost $ 36 $ 34 $ 106 $ 98 Variable lease cost 15 15 40 40 Total lease cost $ 51 $ 49 $ 146 $ 138
Schedule of Cash Flow information, including significant non-cash transactions, related to leases	For the Nine Months Ended June 30, June 24, 2023 2022 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Payments for operating leases (1) $ 94 $ 92 Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities 82 102 (1) These payments are included in cash flows from operating activities, primarily in changes in accrued and other current liabilities.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Jun. 30, 2023
Net investment hedges
Schedule of impacts of hedging program	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Foreign currency exchange gains (losses) on intercompany loans and external borrowings (1) $ 8 $ 156 $ (208) $ 344 Gains (losses) on cross-currency swap contracts designated as hedges of net investment (1) 46 78 (110) 148 (1) Recorded as currency translation, a component of accumulated other comprehensive income (loss), and offset by changes attributable to the translation of the net investment.
Cross-currency swap contracts \| Cash flow hedges
Schedule of impacts of hedging program	For the For the Quarter Ended Nine Months Ended June 24, June 24, 2022 2022 (in millions) Losses recorded in other comprehensive income (loss) $ (1) $ (6) Gains excluded from the hedging relationship (1) 13 52 (1) Gains excluded from the hedging relationship are recognized prospectively in selling, general, and administrative expenses and are offset by losses generated as a result of re-measuring certain intercompany loans to the U.S. dollar.
Cross-currency swap contracts \| Net investment hedges
Summary of fair value of derivative instruments	June 30, September 30, 2023 2022 (in millions) Prepaid expenses and other current assets $ 74 $ 55 Other assets 68 172 Accrued and other current liabilities 7 — Other liabilities 33 —
Forward starting interest rate swaps \| Cash flow hedges
Schedule of impacts of hedging program	For the For the Quarter Ended Nine Months Ended June 24, June 24, 2022 2022 (in millions) Gains recorded in other comprehensive income (loss) $ — $ 13
Commodity swap contracts \| Cash flow hedges
Summary of fair value of derivative instruments	June 30, September 30, 2023 2022 (in millions) Prepaid expenses and other current assets $ 6 $ 2 Accrued and other current liabilities 23 77 Other liabilities 5 7
Schedule of impacts of hedging program	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Gains (losses) recorded in other comprehensive income (loss) $ (42) $ (106) $ 36 $ (45) Gains (losses) reclassified from accumulated other comprehensive income (loss) into cost of sales 3 15 (35) 35

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
Retirement Plans (Tables)	Jun. 30, 2023
Retirement Plans
Net periodic pension benefit cost	Non-U.S. Plans U.S. Plans For the For the Quarters Ended Quarters Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Operating expense: Service cost $ 7 $ 11 $ 3 $ 2 Other (income) expense: Interest cost 14 8 10 7 Expected returns on plan assets (12) (15) (10) (11) Amortization of net actuarial loss 1 6 1 — Amortization of prior service credit (1) (1) — — Net periodic pension benefit cost (credit) $ 9 $ 9 $ 4 $ (2) Non-U.S. Plans U.S. Plans For the For the Nine Months Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Operating expense: Service cost $ 20 $ 31 $ 7 $ 6 Other (income) expense: Interest cost 42 25 29 20 Expected returns on plan assets (34) (44) (29) (35) Amortization of net actuarial loss 4 19 3 2 Amortization of prior service credit (3) (4) — — Net periodic pension benefit cost (credit) $ 29 $ 27 $ 10 $ (7)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2023
Weighted-average number of shares outstanding:
Schedule of weighted-average shares outstanding, basic and diluted	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Basic 315 322 316 324 Dilutive impact of share-based compensation arrangements 2 2 2 3 Diluted 317 324 318 327
Schedule of antidilutive securities excluded from computation of earnings per share	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Antidilutive share options 1 1 1 1

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
Shareholders' Equity (Tables)	Jun. 30, 2023
Shareholders' Equity
Schedule of cash dividends to shareholders	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 Dividends paid per common share $ 0.59 $ 0.56 $ 1.71 $ 1.56
Schedule of common shares repurchased	For the Nine Months Ended June 30, June 24, 2023 2022 (in millions) Number of common shares repurchased 5 8 Repurchase value $ 621 $ 1,072

Share Plans (Tables)

Share Plans (Tables)	9 Months Ended
Share Plans (Tables)	Jun. 30, 2023
Share Plans
Share-based compensation expense	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Share-based compensation expense $ 32 $ 28 $ 95 $ 88
Summary of share-based award activity	During the quarter ended December 30, 2022, we granted the following share-based awards as part of our annual incentive plan grant: Grant-Date Shares Fair Value (in millions) Share options 0.9 $ 35.79 Restricted share awards 0.4 124.52 Performance share awards 0.2 124.52
Weighted-average assumptions	The assumptions we used in the Black-Scholes-Merton option pricing model for the options granted as part of our annual incentive plan grant were as follows: Expected share price volatility 31 % Risk-free interest rate 4.0 % Expected annual dividend per share $ 2.24 Expected life of options (in years) 5.1

Segment and Geographic Data (Ta

Segment and Geographic Data (Tables)	9 Months Ended
Segment and Geographic Data (Tables)	Jun. 30, 2023
Segment and Geographic Data
Schedule of net sales by segment	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Transportation Solutions: Automotive $ 1,747 $ 1,629 $ 5,191 $ 4,802 Commercial transportation 403 400 1,156 1,159 Sensors 283 271 828 811 Total Transportation Solutions 2,433 2,300 7,175 6,772 Industrial Solutions: Industrial equipment 423 471 1,318 1,391 Aerospace, defense, and marine 293 271 855 774 Energy 230 207 652 579 Medical 195 177 567 502 Total Industrial Solutions 1,141 1,126 3,392 3,246 Communications Solutions: Data and devices 252 425 869 1,173 Appliances 172 246 563 731 Total Communications Solutions 424 671 1,432 1,904 Total $ 3,998 $ 4,097 $ 11,999 $ 11,922 (1) Intersegment sales were not material. (2) Industry end market information is presented consistently with our internal management reporting and may be revised periodically as management deems necessary.
Net sales by segment and geographic region	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Asia–Pacific: Transportation Solutions $ 813 $ 825 $ 2,598 $ 2,636 Industrial Solutions 182 200 567 599 Communications Solutions 220 377 756 1,048 Total Asia–Pacific 1,215 1,402 3,921 4,283 Europe/Middle East/Africa (“EMEA”): Transportation Solutions 1,011 894 2,869 2,564 Industrial Solutions 529 469 1,500 1,362 Communications Solutions 70 85 234 269 Total EMEA 1,610 1,448 4,603 4,195 Americas: Transportation Solutions 609 581 1,708 1,572 Industrial Solutions 430 457 1,325 1,285 Communications Solutions 134 209 442 587 Total Americas 1,173 1,247 3,475 3,444 Total $ 3,998 $ 4,097 $ 11,999 $ 11,922 (1) Net sales to external customers are attributed to individual countries based on the legal entity that records the sale.
Schedule of operating income by segment	For the For the Quarters Ended Nine Months Ended June 30, June 24, June 30, June 24, 2023 2022 2023 2022 (in millions) Transportation Solutions $ 425 $ 383 $ 1,040 $ 1,187 Industrial Solutions 150 165 440 430 Communications Solutions 55 171 189 479 Total $ 630 $ 719 $ 1,669 $ 2,096

Restructuring and Other Charg_3

Restructuring and Other Charges, Net - Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Restructuring and other charges, net
Restructuring charges, net	$ 42	$ 26	$ 208	$ 69
Impairment of held for sale businesses and loss (gain) on divestitures, net	10		72	(10)
Other charges, net	1		3
Restructuring and other charges, net	53	26	283	59
Operating expenses
Restructuring and other charges, net
Restructuring charges, net	42	30	208	85
Restructuring charges, net
Restructuring and other charges, net
Restructuring charges, net	42	26	208	69
Restructuring charges, net \| Transportation Solutions
Restructuring and other charges, net
Restructuring charges, net	27	9	119	24
Restructuring charges, net \| Industrial Solutions
Restructuring and other charges, net
Restructuring charges, net	11	11	53	29
Restructuring charges, net \| Communications Solutions
Restructuring and other charges, net
Restructuring charges, net	$ 4	6	$ 36	16
Cost of sales
Restructuring and other charges, net
Restructuring charges, net		$ 4		$ 16

Restructuring and Other Charg_4

Restructuring and Other Charges, Net - Restructuring Reserve Activity (Details) $ in Millions	9 Months Ended
	Jun. 30, 2023 USD ($)
Restructuring reserve
Restructuring reserve at the beginning of the period	$ 228
Charges	219
Changes in Estimate	(11)
Cash Payments	(139)
Non-Cash Items	(1)
Currency Translation	20
Restructuring reserve at the end of the period	316
Fiscal 2023 Actions
Restructuring reserve
Charges	200
Cash Payments	(35)
Non-Cash Items	(6)
Currency Translation	3
Restructuring reserve at the end of the period	162
Fiscal 2023 Actions \| Employee severance
Restructuring reserve
Charges	192
Cash Payments	(35)
Currency Translation	3
Restructuring reserve at the end of the period	160
Fiscal 2023 Actions \| Facility and other exit costs
Restructuring reserve
Charges	2
Restructuring reserve at the end of the period	2
Fiscal 2023 Actions \| Property, plant, and equipment
Restructuring reserve
Charges	6
Non-Cash Items	(6)
Restructuring reserve at the end of the period	0
Fiscal 2022 Actions [Member]
Restructuring reserve
Restructuring reserve at the beginning of the period	109
Charges	15
Changes in Estimate	(7)
Cash Payments	(55)
Non-Cash Items	(1)
Currency Translation	6
Restructuring reserve at the end of the period	67
Fiscal 2022 Actions [Member] \| Employee severance
Restructuring reserve
Restructuring reserve at the beginning of the period	108
Charges	7
Changes in Estimate	(7)
Cash Payments	(47)
Currency Translation	6
Restructuring reserve at the end of the period	67
Fiscal 2022 Actions [Member] \| Facility and other exit costs
Restructuring reserve
Restructuring reserve at the beginning of the period	1
Charges	7
Cash Payments	(8)
Restructuring reserve at the end of the period	0
Fiscal 2022 Actions [Member] \| Property, plant, and equipment
Restructuring reserve
Charges	1
Non-Cash Items	(1)
Restructuring reserve at the end of the period	0
Pre-Fiscal 2022 Actions
Restructuring reserve
Restructuring reserve at the beginning of the period	119
Charges	4
Changes in Estimate	(4)
Cash Payments	(49)
Non-Cash Items	6
Currency Translation	11
Restructuring reserve at the end of the period	87
Pre-Fiscal 2022 Actions \| Employee severance
Restructuring reserve
Restructuring reserve at the beginning of the period	112
Charges	4
Changes in Estimate	(2)
Cash Payments	(40)
Currency Translation	11
Restructuring reserve at the end of the period	85
Pre-Fiscal 2022 Actions \| Facility and other exit costs
Restructuring reserve
Restructuring reserve at the beginning of the period	7
Changes in Estimate	4
Cash Payments	(9)
Restructuring reserve at the end of the period	2
Pre-Fiscal 2022 Actions \| Property, plant, and equipment
Restructuring reserve
Changes in Estimate	(6)
Non-Cash Items	6
Restructuring reserve at the end of the period	$ 0

Restructuring and Other Charg_5

Restructuring and Other Charges, Net - Actions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Restructuring Charges
Charges Incurred	$ 42	$ 26	$ 208	$ 69
Fiscal 2022 Actions [Member]
Restructuring Charges
Total Expected Charges	179		179
Cumulative Charges Incurred	169		169
Remaining Expected Charges	10		10
Charges Incurred			8	84
Fiscal 2022 Actions [Member] \| Transportation Solutions
Restructuring Charges
Total Expected Charges	96		96
Cumulative Charges Incurred	90		90
Remaining Expected Charges	6		6
Fiscal 2022 Actions [Member] \| Industrial Solutions
Restructuring Charges
Total Expected Charges	53		53
Cumulative Charges Incurred	52		52
Remaining Expected Charges	1		1
Fiscal 2022 Actions [Member] \| Communications Solutions
Restructuring Charges
Total Expected Charges	30		30
Cumulative Charges Incurred	27		27
Remaining Expected Charges	3		3
Fiscal 2023 Actions
Restructuring Charges
Total Expected Charges	218		218
Cumulative Charges Incurred	200		200
Remaining Expected Charges	18		18
Charges Incurred			200
Fiscal 2023 Actions \| Transportation Solutions
Restructuring Charges
Total Expected Charges	127		127
Cumulative Charges Incurred	119		119
Remaining Expected Charges	8		8
Fiscal 2023 Actions \| Industrial Solutions
Restructuring Charges
Total Expected Charges	63		63
Cumulative Charges Incurred	54		54
Remaining Expected Charges	9		9
Fiscal 2023 Actions \| Communications Solutions
Restructuring Charges
Total Expected Charges	28		28
Cumulative Charges Incurred	27		27
Remaining Expected Charges	$ 1		$ 1
Pre-Fiscal 2022 Actions
Restructuring Charges
Charges Incurred				$ 1

Restructuring and Other Charg_6

Restructuring and Other Charges, Net - Restructuring Reserve Balances (Details) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Restructuring reserves included on the Consolidated Balance Sheets
Accrued and other current liabilities	$ 276	$ 182
Other liabilities	40	46
Restructuring reserves	$ 316	$ 228

Restructuring and Other Charg_7

Restructuring and Other Charges, Net - Divestitures (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($) item	Jun. 24, 2022 USD ($) item
Divestitures, Not Discontinued Operation
Proceeds from divestiture of businesses, net of cash retained by businesses sold		$ 48	$ 16
Impairment of held for sale businesses and loss (gain) on divestitures, net	$ 10	72	$ (10)
Pre-tax impairment charge		67
Fiscal 2023 Divestitures \| Transportation Solutions
Divestitures, Not Discontinued Operation
Pre-tax impairment charge		$ 60
Fiscal 2023 Divestitures \| Industrial Solutions
Divestitures, Not Discontinued Operation
Number of Businesses Sold \| item		3
Proceeds from divestiture of businesses, net of cash retained by businesses sold		$ 48
Impairment of held for sale businesses and loss (gain) on divestitures, net		$ 12
Fiscal 2022 Divestitures
Divestitures, Not Discontinued Operation
Number of Businesses Sold \| item			2
Proceeds from divestiture of businesses, net of cash retained by businesses sold			$ 16
Net pre-tax gain on divestiture			$ 10

Acquisitions (Details)

Acquisitions (Details) $ in Millions	9 Months Ended
Acquisitions (Details) $ in Millions	Jun. 30, 2023 USD ($) item	Jun. 24, 2022 USD ($) item
Acquisitions
Net cash paid	$ 108	$ 116
2023 Acquisitions
Acquisitions
Number of businesses acquired \| item	1
Net cash paid	$ 108
2022 Acquisitions
Acquisitions
Number of businesses acquired \| item		2
Net cash paid		$ 141
2021 Acquisitions
Acquisitions
Customary net working capital settlement amount		$ 25

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Inventories
Raw materials	$ 404	$ 390
Work in progress	1,300	1,066
Finished goods	1,097	1,220
Inventories	$ 2,801	$ 2,676

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Goodwill:
Goodwill, beginning balance	$ 5,258
Acquisition	72
Currency translation and other	198
Goodwill, ending balance	5,528
Transportation Solutions
Goodwill:
Goodwill, beginning balance	1,439
Currency translation and other	57
Goodwill, ending balance	1,496
Accumulated impairment losses	3,091	$ 3,091
Industrial Solutions
Goodwill:
Goodwill, beginning balance	3,118
Acquisition	72
Currency translation and other	111
Goodwill, ending balance	3,301
Accumulated impairment losses	669	669
Communications Solutions
Goodwill:
Goodwill, beginning balance	701
Currency translation and other	30
Goodwill, ending balance	731
Accumulated impairment losses	$ 489	$ 489

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Intangible Assets, Net (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022	Sep. 30, 2022
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 2,976		$ 2,976		$ 2,832
Accumulated Amortization	(1,734)		(1,734)		(1,544)
Net Carrying Amount	1,242		1,242		1,288
Finite-lived intangible assets, amortization expense	46	$ 48	141	$ 145
Aggregate amortization expense on intangible assets
Remainder of fiscal 2023	48		48
Fiscal 2024	166		166
Fiscal 2025	149		149
Fiscal 2026	145		145
Fiscal 2027	126		126
Fiscal 2028	94		94
Thereafter	514		514
Net Carrying Amount	1,242		1,242		1,288
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	1,754		1,754		1,642
Accumulated Amortization	(797)		(797)		(687)
Net Carrying Amount	957		957		955
Aggregate amortization expense on intangible assets
Net Carrying Amount	957		957		955
Intellectual property
Finite-Lived Intangible Assets
Gross Carrying Amount	1,203		1,203		1,174
Accumulated Amortization	(931)		(931)		(852)
Net Carrying Amount	272		272		322
Aggregate amortization expense on intangible assets
Net Carrying Amount	272		272		322
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	19		19		16
Accumulated Amortization	(6)		(6)		(5)
Net Carrying Amount	13		13		11
Aggregate amortization expense on intangible assets
Net Carrying Amount	$ 13		$ 13		$ 11

Debt - Summary (Details)

Debt - Summary (Details) € in Millions, $ in Millions	9 Months Ended
Debt - Summary (Details) € in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 24, 2022 USD ($)	Sep. 30, 2022 USD ($)
Debt
Fair value of debt	$ 4,017			$ 3,990
Repayment of debt	591		$ 558
Commercial paper
Debt
Commercial paper	$ 288			$ 370
Weighted-average interest rate (as a percent)	5.30%			3.45%
1.10% euro-denominated senior notes due 2023
Debt
Debt instrument, interest rate (as a percent)	1.10%
Repayment of debt \| €		€ 550
4.50% senior notes due 2026
Debt
Debt instrument, interest rate (as a percent)	4.50%
Debt instrument principal amount	$ 500

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Leases
Operating lease cost	$ 36	$ 34	$ 106	$ 98
Variable lease cost	15	15	40	40
Total lease cost	$ 51	$ 49	$ 146	$ 138

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022
Leases
Payments for operating leases	$ 94	$ 92
Right-of-use assets, including modifications of existing leases, obtained in exchange for operating lease liabilities	$ 82	$ 102

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2023 USD ($)
Loss Contingencies
Accrual environmental loss contingency, estimate of probable loss	$ 20
Minimum
Loss Contingencies
Accrual environmental loss contingency, estimate of probable loss	16
Maximum
Loss Contingencies
Accrual environmental loss contingency, estimate of probable loss	44
Outstanding letters of credit, letters of guarantee and surety bonds
Guarantees
Guarantor obligations, maximum exposure	174
Discontinued Operations, Disposed of by Sale \| Subsea Communications
Guarantees
Guarantor obligations, maximum exposure	$ 58

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022	Sep. 30, 2022
Cash flow hedges \| Cross-currency swap contracts
Financial Instruments
Gains (losses) recorded in other comprehensive income (loss)		$ (1)		$ (6)
Gains (losses) excluded from the hedging relationship		$ 13		$ 52
Derivative, Excluded Component, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Selling, General and Administrative Expense		Selling, General and Administrative Expense
Cash flow hedges \| Forward starting interest rate swaps
Financial Instruments
Gains (losses) recorded in other comprehensive income (loss)				$ 13
Debt instrument, interest rate (as a percent)					2.50%
Cash flow hedges \| Commodity swap contracts
Financial Instruments
Notional amount	$ 485		$ 485		$ 566
Gains (losses) recorded in other comprehensive income (loss)	(42)	$ (106)	36	(45)
Gains (losses) reclassified from accumulated other comprehensive income (loss) into cost of sales	3	15	(35)	35
Net investment hedges \| Intercompany loans and external borrowings
Financial Instruments
Notional amount of non-derivative instruments	2,108				1,658
Foreign currency exchange gains (losses) on intercompany loans and external borrowings	8	156	(208)	344
Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Notional amount	$ 3,815		$ 3,815		1,873
Interest paid in foreign currency, fixed interest rate	0%		0%
Interest received in U.S. dollars, weighted-average fixed interest rate	1.60%		1.60%
Gains (losses) on cross-currency swap contracts designated as hedges of net investment	$ 46	$ 78	$ (110)	$ 148
Prepaid expenses and other current assets \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Asset Positions	6		6		2
Prepaid expenses and other current assets \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Asset Positions	74		74		55
Other assets \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Asset Positions	68		68		172
Accrued and other current liabilities \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Liability Positions	23		23		77
Accrued and other current liabilities \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Liability Positions	7		7
Other liabilities \| Cash flow hedges \| Commodity swap contracts
Financial Instruments
Fair Value of Liability Positions	5		5		$ 7
Other liabilities \| Net investment hedges \| Cross-currency swap contracts
Financial Instruments
Fair Value of Liability Positions	$ 33		$ 33

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Net Periodic Postretirement Benefit Cost (Credit)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Non-U.S. Plans
Net Periodic Postretirement Benefit Cost (Credit)
Service cost	$ 7	$ 11	$ 20	$ 31
Interest cost	14	8	42	25
Expected returns on plan assets	(12)	(15)	(34)	(44)
Amortization of net actuarial loss	1	6	4	19
Amortization of prior service credit	(1)	(1)	(3)	(4)
Net periodic pension benefit cost (credit)	9	9	29	27
Defined benefit plan, contributions by employer			58
U.S. Plans
Net Periodic Postretirement Benefit Cost (Credit)
Service cost	3	2	7	6
Interest cost	10	7	29	20
Expected returns on plan assets	(10)	(11)	(29)	(35)
Amortization of net actuarial loss	1		3	2
Net periodic pension benefit cost (credit)	$ 4	$ (2)	$ 10	$ (7)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Income Taxes
Income tax expense	$ 96	$ 116	$ 283	$ 362
Net income tax benefit from divestiture	19		19
Income tax benefit associated with intercompany transactions		$ 21		57
Income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate				27
Income tax expense associated with income tax audit of pre-acquisition period of acquired entity				12
Other income associated with indemnification receivable				$ 11
Increase in Deferred Tax Assets For Tax Loss And Credit Carryforward			313
Increase In Valuation Allowance For Tax Loss And Credit Carryforwards			313
Unrecognized income tax benefits, approximate amount that could be resolved in next twelve months	$ 20		$ 20

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
Earnings Per Share (Details) - shares shares in Millions	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Weighted-average number of shares outstanding:
Basic (in shares)	315	322	316	324
Dilutive impact of share-based compensation arrangements (in shares)	2	2	2	3
Diluted (in shares)	317	324	318	327
Employee Stock Option [Member]
Antidilutive shares excluded from computation of earnings per share
Antidilutive share options	1	1	1	1

Shareholders' Equity (Details)

Shareholders' Equity (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2023 installment $ / shares shares	Jun. 30, 2023 USD ($) $ / shares	Jun. 24, 2022 USD ($) $ / shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 24, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)
Shareholders' Equity
Swiss Law Capital Band, Maximum Duration of Authorization	1 year
Swiss Law Capital Band, Maximum Percentage of Increase of Share Capital	120%
Swiss Law Capital Band, Maximum Percentage of Reduction of Share Capital	80%
Dividends paid per common share \| $ / shares		$ 0.59	$ 0.56	$ 1.71	$ 1.56
Cancellation of treasury shares (in shares) \| shares	8.5
Dividend or cash distribution approved (in currency per share) \| $ / shares	$ 2.36
Number of quarterly dividend installments \| installment	4
Cash distribution quarterly installment payable (in dollars per share) \| $ / shares	$ 0.59
Unpaid portion of the dividend payment recorded in accrued and other current liabilities \| $		$ 555		$ 555		$ 356
Number of common shares repurchased \| shares				5	8
Repurchase value \| $		189	$ 320	$ 621	$ 1,072
Amount available for repurchase, at end of period \| $		$ 1,100		$ 1,100

Share Plans (Details)

Share Plans (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2023	Dec. 30, 2022	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Share Based Compensation Arrangements:
Share-based compensation expense	$ 32		$ 28	$ 95	$ 88
Shares available for issuance	8			8
Share Based Compensation Expenses Not Recognized
Share-based compensation, share-based awards, total compensation expense not yet recognized	$ 162			$ 162
Share-based compensation, share-based awards, total compensation expense not yet recognized, expected period for recognition	1 year 7 months 6 days
Employee Stock Option [Member]
Share Based Compensation Arrangements:
Share options granted		0.9
Options granted, grant-date fair value (in dollars per share)		$ 35.79
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology
Expected share price volatility (as a percent)		31%
Risk-free interest rate (as a percent)		4%
Expected annual dividend per share		$ 2.24
Expected life of options (in years)		5 years 1 month 6 days
Restricted share awards
Share Based Compensation Arrangements:
Shares granted		0.4
Shares granted, grant-date fair value (in dollars per share)		$ 124.52
Performance share awards
Share Based Compensation Arrangements:
Shares granted		0.2
Shares granted, grant-date fair value (in dollars per share)		$ 124.52

Segment and Geographic Data - N

Segment and Geographic Data - Net Sales by Segment and Industry End Market (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 24, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 24, 2022 USD ($)
Segment and Geographic Data
Number of reportable segments \| segment			3
Net sales	$ 3,998	$ 4,097	$ 11,999	$ 11,922
Transportation Solutions
Segment and Geographic Data
Net sales	2,433	2,300	7,175	6,772
Transportation Solutions \| Automotive
Segment and Geographic Data
Net sales	1,747	1,629	5,191	4,802
Transportation Solutions \| Commercial transportation
Segment and Geographic Data
Net sales	403	400	1,156	1,159
Transportation Solutions \| Sensors
Segment and Geographic Data
Net sales	283	271	828	811
Industrial Solutions
Segment and Geographic Data
Net sales	1,141	1,126	3,392	3,246
Industrial Solutions \| Adjustments
Segment and Geographic Data
Net sales				(22)
Industrial Solutions \| Industrial equipment
Segment and Geographic Data
Net sales	423	471	1,318	1,391
Industrial Solutions \| Aerospace, defense, and marine
Segment and Geographic Data
Net sales	293	271	855	774
Industrial Solutions \| Energy
Segment and Geographic Data
Net sales	230	207	652	579
Industrial Solutions \| Medical
Segment and Geographic Data
Net sales	195	177	567	502
Communications Solutions
Segment and Geographic Data
Net sales	424	671	1,432	1,904
Communications Solutions \| Adjustments
Segment and Geographic Data
Net sales				22
Communications Solutions \| Data and devices
Segment and Geographic Data
Net sales	252	425	869	1,173
Communications Solutions \| Appliances
Segment and Geographic Data
Net sales	$ 172	$ 246	$ 563	$ 731

Segment and Geographic Data -_2

Segment and Geographic Data - Net Sales by Geographic Region and Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Segment and Geographic Data
Net sales	$ 3,998	$ 4,097	$ 11,999	$ 11,922
Transportation Solutions
Segment and Geographic Data
Net sales	2,433	2,300	7,175	6,772
Industrial Solutions
Segment and Geographic Data
Net sales	1,141	1,126	3,392	3,246
Communications Solutions
Segment and Geographic Data
Net sales	424	671	1,432	1,904
Total Asia-Pacific
Segment and Geographic Data
Net sales	1,215	1,402	3,921	4,283
Total Asia-Pacific \| Transportation Solutions
Segment and Geographic Data
Net sales	813	825	2,598	2,636
Total Asia-Pacific \| Industrial Solutions
Segment and Geographic Data
Net sales	182	200	567	599
Total Asia-Pacific \| Communications Solutions
Segment and Geographic Data
Net sales	220	377	756	1,048
Total Europe/Middle East/Africa
Segment and Geographic Data
Net sales	1,610	1,448	4,603	4,195
Total Europe/Middle East/Africa \| Transportation Solutions
Segment and Geographic Data
Net sales	1,011	894	2,869	2,564
Total Europe/Middle East/Africa \| Industrial Solutions
Segment and Geographic Data
Net sales	529	469	1,500	1,362
Total Europe/Middle East/Africa \| Communications Solutions
Segment and Geographic Data
Net sales	70	85	234	269
Total Americas
Segment and Geographic Data
Net sales	1,173	1,247	3,475	3,444
Total Americas \| Transportation Solutions
Segment and Geographic Data
Net sales	609	581	1,708	1,572
Total Americas \| Industrial Solutions
Segment and Geographic Data
Net sales	430	457	1,325	1,285
Total Americas \| Communications Solutions
Segment and Geographic Data
Net sales	$ 134	$ 209	$ 442	$ 587

Segment and Geographic Data - O

Segment and Geographic Data - Operating Income (Loss) by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Segment and Geographic Data
Operating income (loss)	$ 630	$ 719	$ 1,669	$ 2,096
Transportation Solutions
Segment and Geographic Data
Operating income (loss)	425	383	1,040	1,187
Industrial Solutions
Segment and Geographic Data
Operating income (loss)	150	165	440	430
Industrial Solutions \| Adjustments
Segment and Geographic Data
Operating income (loss)				(10)
Communications Solutions
Segment and Geographic Data
Operating income (loss)	$ 55	$ 171	$ 189	479
Communications Solutions \| Adjustments
Segment and Geographic Data
Operating income (loss)				$ 10

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2023	Jun. 24, 2022	Jun. 30, 2023	Jun. 24, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 528	$ 594	$ 1,358	$ 1,720

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false