Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 164

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 164
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 expect to recognize additional charges of approximately $30 million related to this program through the remainder of 2025, with cash payments expected to be largely completed within the next twelve months.There have been no changes in previously initiated programs that have resulted (or are expected to result) in a material change to our restructuring costs. The Company expects to incur additional restructuring costs of approximately $65 million (of which approximately $30 million relates to the Engineering Components Group segment, approximately $20 million relates to the Electrical Distribution Systems segment and approximately $15 million relates to the Advanced Safety and User Experience segment) for programs approved as of March 31, 2025, which includes the amounts related to the global salaried workforce optimization program described above, and are expected to be incurred within the next twelve months.During the three months ended March 31, 2024, Aptiv recorded employee-related and other restructuring charges totaling approximately $39 million, of which $24 million was recognized for a program initiated in the fourth quarter of 2023 focused on global salaried workforce optimization, primarily in the European region. Restructuring charges for employee separation and termination benefits are paid either over the severance period or in a lump sum in accordance with either statutory requirements or individual agreements. Aptiv incurred cash expenditures related to its restructuring programs of approximately $55 million and $75 million in the three months ended March 31, 2025 and 2024, respectively.The following table summarizes the restructuring charges recorded for the three months ended March 31, 2025 and 2024 by operating segment: Three Months Ended March 31,20252024 (in millions)Electrical Distribution Systems$16 $15 Engineered Components Group15 7 Advanced Safety and User Experience6 17 Total$37 $39 The table below summarizes the activity in the restructuring liability for the three months ended March 31, 2025:Employee Termination Benefits LiabilityOther Exit Costs LiabilityTotal (in millions)Accrual balance at January 1, 2025$118 $— $118 Provision for estimated expenses incurred during the period37 — 37 Payments made during the period(55)— (55)Foreign currency and other3 — 3 Accrual balance at March 31, 2025$103 $— $103 

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8. DEBT

The following is a summary of debt outstanding, net of unamortized issuance costs