Company: APTV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001521332-25-000051
Chunk: 67

Company: Aptiv PLC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 67
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181 $4,804 $4,410 $(589)$14,806 Revenue by core product line for the three and nine months ended September 30, 2025 and 2024 are as follows: Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (in millions)Electrical Distribution Systems$2,286 $2,035 $6,516 $6,181 Engineered Components Group1,714 1,582 5,018 4,804 Active Safety783 768 2,333 2,212 Smart Vehicle Compute and Software137 109 408 361 User Experience and Other539 564 1,679 1,880 Eliminations(17)(14)(47)(43)Advanced Safety and User Experience1,442 1,427 4,373 4,410 Eliminations(230)(190)(662)(589)Total net sales$5,212 $4,854 $15,245 $14,806 Contract BalancesContract liabilities solely consist of deferred revenue. As of September 30, 2025 and December 31, 2024, the balance of contract liabilities was $99 million (of which $83 million was recorded in other current liabilities and $16 million was recorded in other long-term liabilities) and $124 million (of which $111 million was recorded in other current liabilities and $13 million was recorded in other long-term liabilities), respectively. The decrease in the contract liabilities balance was primarily driven by $98 million of revenues recognized during the nine months ended September 30, 2025 that were included in the contract liability balance as of December 31, 2024, partially offset by cash payments received or due in advance of the performance obligation being satisfied.Contract assets are primarily comprised of unbilled receivables, which consist of amounts related to the Company’s unconditional right to consideration for completed performance obligations that have not been invoiced. As of September 30, 2025, the balance of contract assets was $165 million (of which $77 million was recorded in other current assets and $88 million was recorded in other long-term assets). As of December 31, 2024, the balance of contract assets was $130 million (of which $65 million was recorded in other current assets and $65 million was recorded in other long-term assets).Remaining Performance ObligationsFor production parts, customer contracts