Company: APTV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001521332-25-000040
Chunk: 89

Company: Aptiv PLC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 89
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790 $771 $(19)Percentage of net sales7.9 %7.7 %

Selling, general and administrative expense (“SG&A”) primarily includes administrative expenses, information technology costs, incentive compensation related costs, separation, acquisition and project portfolio costs and selling and marketing expenses. SG&A remained consistent as a percentage of net sales for the three and six months ended June 30, 2025 compared to 2024. SG&A includes $28 million and $47 million of separation costs during the three and six months ended June 30, 2025, respectively.

AmortizationThree Months Ended June 30,20252024Favorable/(unfavorable)(in millions)Amortization$53 $52 $(1) Six Months Ended June 30, 20252024Favorable/(unfavorable) (in millions)Amortization$104 $106 $2 

Amortization expense reflects the non-cash charge related to definite-lived intangible assets. Amortization during the three and six months ended June 30, 2025 and 2024 reflects the continued amortization of our definite-lived intangible assets, which resulted primarily from our acquisitions, over their estimated useful lives.

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RestructuringThree Months Ended June 30,20252024Favorable/(unfavorable)(dollars in millions)Restructuring$52 $70 $18 Percentage of net sales1.0 %1.4 % Six Months Ended June 30, 20252024Favorable/(unfavorable) (dollars in millions)Restructuring$89 $109 $20 Percentage of net sales0.9 %1.1 %

The Company recorded employee-related and other restructuring charges totaling approximately $52 million and $89 million during the three and six months ended June 30, 2025, respectively, which included the recognition of approximately $12 million and $15 million, respectively, for a program initiated in the fourth quarter of 2024 focused on global salaried workforce optimization, primarily in the European region. The charges recorded during the three and six months ended June 30, 2025 also included the recognition of approximately $9 million and $22 million, respectively, within the Electrical Distribution Systems segment for programs to downsize and close European manufacturing sites. We expect to make cash payments of approximately $110 million over the next twelve months pursuant to currently