Company: APTV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001521332-25-000040
Chunk: 64

Company: Aptiv PLC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 64
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$(399)$9,952 

46

Revenue by core product line for the three and six months ended June 30, 2025 and 2024 are as follows: Three Months Ended June 30,Six Months Ended June 30, 2025202420252024 (in millions)Electrical Distribution Systems$2,206 $2,065 $4,230 $4,146 Engineered Components Group1,723 1,626 3,304 3,222 Active Safety807 758 1,550 1,444 Smart Vehicle Compute and Software138 134 271 252 User Experience and Other578 676 1,140 1,316 Eliminations(16)(14)(30)(29)Advanced Safety and User Experience1,507 1,554 2,931 2,983 Eliminations(228)(194)(432)(399)Total net sales$5,208 $5,051 $10,033 $9,952 Contract BalancesContract liabilities solely consist of deferred revenue. As of June 30, 2025 and December 31, 2024, the balance of contract liabilities was $121 million (of which $96 million was recorded in other current liabilities and $25 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 $77 million of revenues recognized during the six months ended June 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 June 30, 2025, the balance of contract assets was $156 million (of which $74 million was recorded in other current assets and $82 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 generally are represented by a combination of a current