What is the main reason for this amended 8-K filing?

This amended 8-K filing is to update Amphenol Corporation's Condensed Consolidated Statements of Cash Flow following the adoption of Accounting Standards Update (ASU) No. 2009-16, which changes how transfers of financial assets, particularly receivables, are accounted for.

How does the adoption of ASU 2009-16 affect Amphenol's reported cash flow from operations?

The adoption of ASU 2009-16 requires that transfers of receivables occurring on or after January 1, 2010, be reflected as debt. This reclassification led to a reported reduction of $82 million in cash flows provided by operating activities for the quarter ended March 31, 2010.

Does this change indicate a decline in Amphenol's actual operating performance?

Not necessarily. The filing states that 'Cash flow from operations remained strong in the quarter at $114 million' when adjusted for the accounting change. The reduction is due to a change in accounting presentation, not a direct reflection of a decline in underlying business operations.

What specific financial statements are being amended or updated?

The primary focus of the amendment is the Condensed Consolidated Statements of Cash Flow. However, Exhibit 99.1, incorporated by reference, also includes amended Condensed Consolidated Statements of Income, Condensed Consolidated Balance Sheets, and segment information.

APH 8-K: Earnings & Results

Summary

This Form 8-K/A filing by Amphenol Corporation serves as an amendment to a previous report filed on April 20, 2010. The primary purpose of this amendment is to revise certain line items within the company's Condensed Consolidated Statements of Cash Flow. These revisions are necessitated by Amphenol's adoption of Accounting Standards Update (ASU) No. 2009-16, which governs the accounting for transfers of financial assets, specifically receivables. The adoption, effective January 1, 2010, has altered how certain receivables transactions are presented. Investors should note that the adoption of ASU 2009-16 has resulted in a reclassification of cash flows related to transfers of receivables. Specifically, these transfers are now reflected as debt, leading to a reported reduction of $82 million in cash flows provided by operating activities for the quarter ended March 31, 2010. While the underlying operational performance may remain strong, this accounting change impacts the direct reporting of cash flow from operations. The filing details the specific adjustments made to the cash flow statement to accurately reflect this accounting change, including modifications to captions and amounts related to receivables sold under the Receivables Securitization Facility and overall cash flow provided by operating activities.

Key Highlights

1Amphenol Corporation is amending a previous 8-K filing dated April 20, 2010.
2The amendment is due to the adoption of Accounting Standards Update (ASU) No. 2009-16, effective January 1, 2010.
3This adoption impacts the accounting for transfers of financial assets, specifically receivables.
4Transfers of receivables occurring after January 1, 2010, are now presented as debt on the Cash Flow Statement.
5This accounting change resulted in a reported reduction of $82 million in cash flows provided by operating activities for the quarter ended March 31, 2010.
6Specific line items on the Condensed Consolidated Statements of Cash Flow have been adjusted to reflect this change.
7An attachment (Exhibit 99.1) includes amended financial statements and segment information.

AMPHENOL CORP /DE/ 8-K/A Report, Financial Results (May 6, 2010)

Summary

Key Highlights

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