Please wait
.2
RECAST OF OPERATING SEGMENTS
(Unaudited)
Beginning in the first quarter of 2025, Aptiv PLC (“Aptiv” or “the Company”) is realigning its business into three reportable operating segments: Electrical Distribution Systems, Engineered Components Group and Advanced Safety and User Experience.
To assist investors who may want to consider the effects of these segment reporting changes on Aptiv’s historical results, unaudited recast segment financial information for each quarter of fiscal years 2023 and 2024 and for the fiscal years ended December 31, 2023 and 2024 are shown below. The changes to Aptiv’s segment reporting will be reflected in Aptiv’s financial statements commencing with the first Quarterly Report of 2025 on Form 10-Q.

Year Ended December 31, 2024
First QuarterSecond QuarterThird QuarterFourth QuarterTotal
(in millions)
Net Sales
Electrical Distribution Systems$2,081 $2,065 $2,035 $2,128 $8,309 
Engineered Components Group1,596 1,626 1,582 1,580 6,384 
Advanced Safety and User Experience1,429 1,554 1,427 1,381 5,791 
Eliminations and Other (a)(205)(194)(190)(182)(771)
Net Sales$4,901 $5,051 $4,854 $4,907 $19,713 
Adjusted Operating Income
Electrical Distribution Systems$136 $138 $125 $180 $579 
Engineered Components Group253 298 272 250 1,073 
Advanced Safety and User Experience155 170 196 193 714 
Adjusted Operating Income$544 $606 $593 $623 $2,366 

Year Ended December 31, 2023
First QuarterSecond QuarterThird QuarterFourth QuarterTotal
(in millions)
Net Sales
Electrical Distribution Systems$2,111 $2,278 $2,259 $2,184 $8,832 
Engineered Components Group1,559 1,622 1,652 1,582 6,415
Advanced Safety and User Experience1,366 1,532 1,441 1,356 5,695
Eliminations and Other (a)(218)(232)(238)(203)(891)
Net Sales$4,818 $5,200 $5,114 $4,919 $20,051 
Adjusted Operating Income
Electrical Distribution Systems$141 $152 $173 $201 $667 
Engineered Components Group233 240 278 258 1,009
Advanced Safety and User Experience63 138 109 141 451
Adjusted Operating Income$437 $530 $560 $600 $2,127 
(a)
Eliminations and Other includes the elimination of inter-segment transactions.




1


RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)

Adjusted Operating Income represents a non-GAAP financial measure, which is reconciled to its closest GAAP financial measure in the following schedules.

Consolidated Adjusted Operating Income
Year Ended December 31, 2024
First QuarterSecond QuarterThird QuarterFourth QuarterTotal
($ in millions)
Net income attributable to Aptiv$218 $938 $363 $268 $1,787 
Interest expense65 64 101 107 337 
Other income, net(15)(10)(5)(11)(41)
Net (gain) loss on equity method transactions— (641)— 36 (605)
Income tax expense76 51 32 64 223 
Equity loss, net of tax69 34 7 8 118 
Net income attributable to noncontrolling interest6 5 7 6 24 
Net (loss) income attributable to redeemable noncontrolling interest— — (2)1 (1)
Operating income$419 $441 $503 $479 $1,842 
Amortization54 52 53 52 211 
Restructuring39 70 16 68 193 
Other acquisition and portfolio project costs28 25 13 14 80 
Asset impairments— 14 3 5 22 
Compensation expense related to acquisitions4 4 5 5 18 
Adjusted operating income$544 $606 $593 $623 $2,366 


Year Ended December 31, 2023
First QuarterSecond QuarterThird QuarterFourth QuarterTotal
($ in millions)
Net income attributable to Aptiv$162 $242 $1,629 $905 $2,938 
Interest expense67 72 75 71 285 
Other expense (income), net1 (11)(26)(27)(63)
Income tax expense (benefit)34 30 (1,312)(680)(1,928)
Equity loss, net of tax82 73 72 72 299 
Net income attributable to noncontrolling interest3 4 8 13 28 
Net (loss) income attributable to redeemable noncontrolling interest(1)— — 1 — 
Operating income$348 $410 $446 $355 $1,559 
Amortization59 59 59 56 233 
Restructuring11 42 28 130 211 
Other acquisition and portfolio project costs14 11 20 35 80 
Asset impairments— — — 18 18 
Compensation expense related to acquisitions5 8 7 6 26 
Adjusted operating income$437 $530 $560 $600 $2,127 


2


Segment Adjusted Operating Income
(in millions)
Three Months Ended March 31, 2024Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$109 $208 $102 $419 
Amortization1 30 23 54 
Restructuring15 7 17 39 
Other acquisition and portfolio project costs11 8 9 28 
Compensation expense related to acquisitions— — 4 4 
Adjusted operating income$136 $253 $155 $544 
Depreciation and amortization (a)$58 $103 $69 $230 
Three Months Ended June 30, 2024Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$94 $240 $107 $441 
Amortization— 31 21 52 
Restructuring35 19 16 70 
Other acquisition and portfolio project costs9 8 8 25 
Asset impairments— — 14 14 
Compensation expense related to acquisitions— — 4 4 
Adjusted operating income$138 $298 $170 $606 
Depreciation and amortization (a)$56 $106 $86 $248 
Three Months Ended September 30, 2024Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$110 $231 $162 $503 
Amortization— 31 22 53 
Restructuring10 3 3 16 
Other acquisition and portfolio project costs5 4 4 13 
Asset impairments— 3 — 3 
Compensation expense related to acquisitions— — 5 5 
Adjusted operating income$125 $272 $196 $593 
Depreciation and amortization (a)$59 $111 $71 $241 
Three Months Ended December 31, 2024Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$133 $204 $142 $479 
Amortization1 28 23 52 
Restructuring41 10 17 68 
Other acquisition and portfolio project costs5 3 6 14 
Asset impairments— 5 — 5 
Compensation expense related to acquisitions— — 5 5 
Adjusted operating income$180 $250 $193 $623 
Depreciation and amortization (a)$62 $109 $74 $245 
(a)
Includes asset impairments.

3


Segment Adjusted Operating Income
(in millions)
Three Months Ended March 31, 2023Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$131 $188 $29 $348 
Amortization4 32 23 59 
Restructuring3 4 4 11 
Other acquisition and portfolio project costs3 9 2 14 
Compensation expense related to acquisitions— — 5 5 
Adjusted operating income$141 $233 $63 $437 
Depreciation and amortization (a)$48 $101 $67 $216 
Three Months Ended June 30, 2023Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$143 $197 $70 $410 
Amortization4 32 23 59 
Restructuring— 8 34 42 
Other acquisition and portfolio project costs5 3 3 11 
Compensation expense related to acquisitions— — 8 8 
Adjusted operating income$152 $240 $138 $530 
Depreciation and amortization (a)$50 $105 $69 $224 
Three Months Ended September 30, 2023Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$160 $235 $51 $446 
Amortization3 32 24 59 
Restructuring2 5 21 28 
Other acquisition and portfolio project costs8 6 6 20 
Compensation expense related to acquisitions— — 7 7 
Adjusted operating income$173 $278 $109 $560 
Depreciation and amortization (a)$53 $107 $66 $226 
Three Months Ended December 31, 2023Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$130 $195 $30 $355 
Amortization1 32 23 56 
Restructuring43 17 70 130 
Other acquisition and portfolio project costs14 12 9 35 
Asset impairments13 2 3 18 
Compensation expense related to acquisitions— — 6 6 
Adjusted operating income$201 $258 $141 $600 
Depreciation and amortization (a)$27 $147 $72 $246 
(a)
Includes asset impairments.

4


Segment Adjusted Operating Income
(in millions)
Year Ended December 31, 2024Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$446 $883 $513 $1,842 
Amortization2 120 89 211 
Restructuring101 39 53 193 
Other acquisition and portfolio project costs30 23 27 80 
Asset impairments— 8 14 22 
Compensation expense related to acquisitions— — 18 18 
Adjusted operating income$579 $1,073 $714 $2,366 
Depreciation and amortization (a)$235 $429 $300 $964 
Year Ended December 31, 2023Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceTotal
Operating income$564 $815 $180 $1,559 
Amortization12 128 93 233 
Restructuring48 34 129 211 
Other acquisition and portfolio project costs30 30 20 80 
Asset impairments13 2 3 18 
Compensation expense related to acquisitions— — 26 26 
Adjusted operating income$667 $1,009 $451 $2,127 
Depreciation and amortization (a)$178 $460 $274 $912 
(a)
Includes asset impairments.















5