Amphenol invested approximately $970 million to fund 10 acquisitions in 2023, demonstrating its commitment to strategic growth through M&A. These acquisitions strengthen the company's customer base and product offerings.

Amphenol is strategically expanding and shifting its global manufacturing, engineering, sales and service operations to better serve existing customers, penetrate developing markets and establish new customer relationships.

Amphenol is focused on technology leadership in the interconnect areas of radio frequency, power, harsh environment, high-speed and fiber optics, as well as antennas and sensors, as it views these technology areas to be of particular importance to its global customer base.

The company evaluates and adjusts its expense levels and workforce to reflect current business conditions and attempts to maximize operating profitability as well as the return on capital investments.

Amphenol's management system is designed to provide clear income statement and balance sheet responsibility in a flat organizational structure, enabling general managers to grow their businesses entrepreneurially.

The Company's overall strategy is to provide customers with comprehensive design capabilities, a broad selection of products and a high level of quality and service on a worldwide basis, while maintaining continuing programs of productivity improvement and cost control.

The Company's operations and performance depend significantly on global, regional and U.S. economic and geopolitical conditions, with non-U.S. markets constituting approximately 65% of net sales.

The Company relies on third-party suppliers to secure these materials and components, and inflationary pressures and logistical challenges may impact the cost and availability of certain raw materials and components.

The Company relies on its information technology systems for critical operations and faces numerous evolving cybersecurity threats that could disrupt operations or cause the release of sensitive information.

The Company competes primarily on the basis of technology innovation, product quality and performance, price, customer service and delivery time. Primary competitors include Aptiv, Belden, Commscope, Eaton, Foxconn, Glenair, HARTING, Hirose, HUBER+SUHNER, ICT Luxshare, JAE, Jonhon, JST, Molex, Phoenix Contact, Radiall, Rosenberger, Sensata, TE Connectivity, Yazaki and 3M, among others.

Amphenol's core competencies include application-specific industrial interconnect solutions utilizing integrated assemblies, including with both cable and flexible printed circuits, as well as high-power interconnects requiring advanced engineering and system integration.

Amphenol has developed advanced technology solutions for hybrid and electric vehicles and is working with leading global customers to proliferate these advanced interconnect products into next-generation automobiles.

The Company's global manufacturing strategy is designed to provide proximity and reliable service to customers, while also lowering production and logistics costs.

The Company evaluates and adjusts its expense levels and workforce to reflect current business conditions and attempts to maximize operating profitability as well as the return on capital investments.

To better serve certain high-volume customers, the Company has established certain facilities near these major customers, seeking to position its manufacturing and assembly facilities in order to serve local markets while coordinating product design and manufacturing responsibility with the Company's other operations around the world.

The Company generally focuses its research and development efforts primarily on those product areas that it believes have the potential for broad market applications and significant sales within a one- to three-year period.

The Company's product development strategy is to rely on product design teams at each of our operating units around the world working collaboratively with customers, which often results in the Company obtaining approved vendor status for its customers' new products and programs.

Amphenol owns a significant portfolio of patents that principally relate to mechanical, electrical, radio frequency, optical and electronic features of connector, antenna and sensor products.

The Company uses Operating Cash Flow to fund capital expenditures and acquisitions, repurchase shares of the Company's Class A Common Stock, pay dividends and reduce indebtedness.

The Company repurchased 7.2 million shares of its Common Stock for $585.1 million in 2023 under the 2021 Stock Repurchase Program, demonstrating its commitment to returning value to shareholders.

Amphenol has a history of paying quarterly cash dividends, with the board approving an increase to the quarterly dividend rate from $0.21 to $0.22 per share, effective with dividends declared in the fourth quarter of 2023.

The Company publishes an annual sustainability report to highlight its goals and areas of progress and success in sustainability matters, including climate-related topics.

Amphenol is committed to workplace diversity and fostering a culture of equity, inclusion and belonging across our organization, promoting and maintaining a culture of respect and appreciation of differences in our employees.

The Company believes that the protection of our employees is a moral obligation and that the safety and well-being of our employees is critical to the successful operation of our business.

The Company sells products to customers in a diversified set of end markets, including automotive, broadband communications, commercial aerospace, defense, industrial, information technology and data communications, mobile devices and mobile networks.

The Company's operations and performance depend significantly on global, regional and U.S. economic and geopolitical conditions. During 2023, non-U.S. markets constituted approximately 65% of the Company's net sales, with China constituting approximately 23% of the Company's net sales.

As a global company, we are subject to various laws and regulations applicable to parties doing business with the U.S. and other governments, including laws and regulations governing reporting obligations, interactions with government officials, performance of government contracts, the use and treatment of government furnished property and the nature of materials used in our products.