Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 119

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 119
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 accompanying notes to the consolidated financial statements.

Our management utilizes Adjusted Operating Income as the key performance measure of segment income or loss to evaluate segment performance, and for planning and forecasting purposes to allocate resources to the segments, as management believes this measure is most reflective of the operational profitability or loss of our operating segments. Segment Adjusted Operating Income should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered an alternative to net income attributable to Aptiv, which is the most directly comparable financial measure to Adjusted Operating Income that is prepared in accordance with U.S. GAAP. Segment Adjusted Operating Income, as determined and measured by Aptiv, should also not be compared to similarly titled measures reported by other companies. Refer to Note 19. Segment Reporting to the consolidated financial statements contained herein for additional information.

Net sales, gross margin as a percentage of net sales and Adjusted Operating Income by segment for the three months ended March 31, 2025 and 2024 are as follows:

Net Sales by Segment Three Months Ended March 31,Variance Due To: 20252024Favorable/(unfavorable)Volume, net of contractual price reductionsFXCommodity pass-throughOtherTotal (in millions)(in millions)Electrical Distribution Systems$2,024 $2,081 $(57)$(56)$(27)$26 $— $(57)Engineered Components Group1,581 1,596 (15)17 (35)3 — (15)Advanced Safety and User Experience1,424 1,429 (5)— (5)— — (5)Eliminations and Other(204)(205)1 (3)3 1 — 1 Total$4,825 $4,901 $(76)$(42)$(64)$30 $— $(76)

Gross Margin Percentage by Segment Three Months Ended March 31, 20252024Electrical Distribution Systems12.2 %11.1 %Engineered Components Group26.2 %24.8 %Advanced Safety and User Experience18.2 %17.5 %Total19.1 %17.9 %

57

Adjusted Operating Income by Segment

 Three Months Ended March 31,Variance Due To: 20252024Favorable/(unfavorable)Volume, net of contractual price reductionsOperational performanceOtherTotal