LITTELFUSE INC DE

For the period ended Mar 29, 2025. Filed Apr 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 29, 2025 · Filed Apr 30, 2025

LFUS$385.63+8.4%Stored close · as of Nov 9, 2026

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Contents

Item 1. Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)
(in thousands, except share and per share data)	March 29,2025	December 28,2024
ASSETS
Current assets:
Cash and cash equivalents (Note 1)	$618,687	$724,924
Short-term investments	984	976
Trade receivables, less allowances of $69,244 and $69,990 at March 29, 2025 and December 28, 2024, respectively	317,828	294,371
Inventories (Note 3)	417,102	416,273
Prepaid income taxes and income taxes receivable	8,245	11,749
Prepaid expenses and other current assets	70,238	103,716
Total current assets	1,433,084	1,552,009
Net property, plant, and equipment (Note 4)	510,336	477,068
Intangible assets, net of amortization (Note 5)	475,645	482,118
Goodwill (Note 5)	1,307,941	1,228,502
Investments	21,821	23,245
Deferred income taxes	5,581	4,899
Right of use lease assets	85,028	72,211
Other long-term assets	48,799	51,727
Total assets	$3,888,235	$3,891,779
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$176,450	$188,359
Accrued liabilities (Note 6)	139,815	148,276
Accrued income taxes	35,592	29,658
Current portion of long-term debt (Note 8)	17,710	67,612
Total current liabilities	369,567	433,905
Long-term debt, less current portion (Note 8)	787,980	788,502
Deferred income taxes	95,416	95,532
Accrued post-retirement benefits	30,751	29,836
Non-current lease liabilities	72,243	60,559
Other long-term liabilities	75,523	69,833
Total liabilities	$1,431,480	$1,478,167
Commitments and contingencies (Note 15)
Shareholders’ equity:
Common stock, par value $0.01 per share: 34,000,000 shares authorized; shares issued, March 29, 2025–26,772,905; December 28, 2024–26,758,730	262	262
Additional paid-in capital	1,056,077	1,049,079
Treasury stock, at cost: 2,058,288 and 1,937,380 shares, respectively	(333,039)	(305,351)
Accumulated other comprehensive loss	(108,764)	(146,361)
Retained earnings	1,841,794	1,815,628
Littelfuse, Inc. shareholders’ equity	2,456,330	2,413,257
Non-controlling interest	425	355
Total equity	2,456,755	2,413,612
Total liabilities and equity	$3,888,235	$3,891,779

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

	Three Months Ended
(in thousands, except per share data)	March 29,2025	March 30,2024
Net sales	$554,307	$535,385
Cost of sales	347,051	347,577
Gross profit	207,256	187,808
Selling, general, and administrative expenses	87,708	86,127
Research and development expenses	26,048	27,667
Amortization of intangibles	14,331	15,825
Restructuring, impairment, and other charges	9,019	3,237
Total operating expenses	137,106	132,856
Operating income	70,150	54,952
Interest expense	8,875	9,611
Foreign exchange loss (gain)	4,843	(5,042)
Other income, net	(3,515)	(5,321)
Income before income taxes	59,947	55,704
Income taxes	16,376	7,252
Net income	$43,571	$48,452
Earnings per share:
Basic	$1.76	$1.95
Diluted	$1.75	$1.93
Weighted-average shares and equivalent shares outstanding:
Basic	24,767	24,911
Diluted	24,963	25,124

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Three Months Ended
(in thousands)	March 29,2025	March 30,2024
Net income	$43,571	$48,452
Other comprehensive income (loss):
Pension and postemployment adjustments, net of tax	219	344
Cash flow hedges, net of tax	588	1,926
Foreign currency translation adjustments, net of tax	36,790	(32,561)
Comprehensive income	$81,168	$18,161

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

	Three Months Ended
(in thousands)	March 29, 2025	March 30, 2024
OPERATING ACTIVITIES
Net income	$43,571	$48,452
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	18,430	16,668
Amortization of intangibles	14,331	15,825
Deferred revenue	613	(918)
Impairment charges	136	933
Stock-based compensation	4,855	3,617
Loss on investments and other assets	1,630	379
Deferred income taxes	(2,916)	(8,811)
Other	579	1,036
Changes in operating assets and liabilities:
Trade receivables	(14,745)	(12,723)
Inventories	8,699	16,179
Accounts payable	(8,772)	345
Accrued liabilities and income taxes	(8,044)	(28,042)
Prepaid expenses and other assets	7,391	4,210
Net cash provided by operating activities	65,758	57,150
INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired	(57,417)	—
Purchases of property, plant, and equipment	(23,102)	(15,547)
Net proceeds from sale of property, plant and equipment, and other	11	7,064
Net cash used in investing activities	(80,508)	(8,483)
FINANCING ACTIVITIES
Payments of senior notes payable	(50,000)	—
Repayments of other debts	(657)	(678)
Payments of term loan	(3,750)	(1,875)
Net proceeds related to stock-based award activities	2,082	1,364
Repurchases of common stock	(27,374)	(16,131)
Cash dividends paid	(17,335)	(16,200)
Net cash used in financing activities	(97,034)	(33,520)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	5,603	(8,550)
(Decrease) increase in cash, cash equivalents, and restricted cash	(106,181)	6,597
Cash, cash equivalents, and restricted cash at beginning of period	726,437	557,123
Cash, cash equivalents, and restricted cash at end of period	$620,256	$563,720
Supplementary Cash Flow Information
Reconciliation of cash and cash equivalents:
Cash and cash equivalents	$618,687	$562,153
Restricted cash included in other long-term assets	1,569	1,567
Cash paid during the period for interest	12,193	13,235
Capital expenditures, not yet paid	4,952	9,968

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

	Littelfuse, Inc. Shareholders’ Equity
(in thousands, except share and per share data)	Common Stock	Addl. Paid in Capital	Treasury Stock	Accum. Other Comp. Income (Loss)	Retained Earnings	Non-controlling Interest	Total
Balance at December 28, 2024	$262	$1,049,079	$(305,351)	$(146,361)	$1,815,628	$355	$2,413,612
Net income	—	—	—	—	43,571	—	43,571
Other comprehensive income, net of tax	—	—	—	37,597	—	—	37,597
Stock-based compensation	—	4,855	—	—	—	—	4,855
Non-controlling interest	—	—	—	—	(70)	70	—
Withheld shares on restricted share units for withholding taxes	—	—	(62)	—	—	—	(62)
Stock options exercised	—	2,143	—	—	—	—	2,143
Repurchases of common stock, with excise tax	—	—	(27,626)	—	—	—	(27,626)
Cash dividends paid ($0.70 per share)	—	—	—	—	(17,335)	—	(17,335)
Balance at March 29, 2025	$262	$1,056,077	$(333,039)	$(108,764)	$1,841,794	$425	$2,456,755

	Littelfuse, Inc. Shareholders’ Equity
(in thousands, except share and per share data)	Common Stock	Addl. Paid in Capital	Treasury Stock	Accum. Other Comp. Loss	Retained Earnings	Non-controlling Interest	Total
Balance at December 30, 2023	$262	$1,012,325	$(259,263)	$(55,817)	$1,782,662	$312	$2,480,481
Net income	—	—	—	—	48,452	—	48,452
Other comprehensive loss, net of tax	—	—	—	(30,291)	—	—	(30,291)
Stock-based compensation	—	3,617	—	—	—	—	3,617
Non-controlling interest	—	—	—	—	2	(2)	—
Withheld shares on restricted share units for withholding taxes	—	—	(4)	—	—	—	(4)
Stock options exercised	—	1,369	—	—	—	—	1,369
Repurchases of common stock, with excise tax	—	—	(16,131)	—	—	—	(16,131)
Cash dividends paid ($0.65 per share)	—	—	—	—	(16,200)	—	(16,200)
Balance at March 30, 2024	$262	$1,017,311	$(275,398)	$(86,108)	$1,814,916	$310	$2,471,293

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.