Company: APTV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001521332-25-000051
Chunk: 177

Company: Aptiv PLC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 177
---
 total net sales for the three and nine months ended 

15

September 30, 2025, which included approximately 11% to Ford Motor Company during the three and nine months ended September 30, 2025. Our ten largest customers accounted for approximately 56% for the three and nine months ended September 30, 2024, none of which individually exceeded 10%. During the three months ended September 30, 2025, Electrical Distribution Systems segment recognized net sales to each of our ten largest customers, our Advanced Safety and User Experience segment recognized net sales to eight of our ten largest customers and our Engineered Components Group segment recognized net sales to seven of our ten largest customers. During the nine months ended September 30, 2025, our Electrical Distribution Systems segment, Engineered Components Group segment and Advanced Safety and User Experience segment recognized net sales to each of our ten largest customers. During the three and nine months ended September 30, 2024, our Electrical Distribution Systems segment and Advanced Safety and User Experience segment recognized net sales to each of our ten largest customers, and our Engineered Components Group segment recognized net sales to nine of our ten largest customers during the three and nine months ended September 30, 2024.Recently adopted accounting pronouncements—Aptiv adopted ASU 2023-05, Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement in the first quarter of 2025. The amendments in this update require a joint venture to initially recognize all contributions received at fair value upon formation. The new guidance is applicable to joint venture entities with a formation date on or after January 1, 2025 and is to be applied prospectively. As the Company did not have any applicable joint venture formations during the nine months ended September 30, 2025, there was no impact to the Company’s financial statements upon adoption. The adoption of this guidance will be applied to any applicable joint venture formations that occur in future periods.Aptiv adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures in the first quarter of 2025. The amendments in this update require public entities to disclose specific categories in the effective tax rate reconciliation, as well as additional information for reconciling items that exceed a quantitative threshold. The amendments also require all entities to disclose income taxes paid disaggregated by federal, state and foreign taxes, and further disaggregated for specific jurisdictions that exceed 5%