Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 54

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 54
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$253 $155 $544 Amortization(1)(30)(23)(54)Restructuring(15)(7)(17)(39)Other acquisition and portfolio project costs(11)(8)(9)(28)Compensation expense related to acquisitions— — (4)(4)Operating income419 Interest expense(65)Other income, net15 Income before income taxes and equity loss369 Income tax expense(76)Equity loss, net of tax(69)Net income224 Net income attributable to noncontrolling interest6 Net income attributable to Aptiv$218  Electrical Distribution SystemsEngineered Components GroupAdvanced Safety and User ExperienceEliminations and Other (1)Total (in millions)Balance as of March 31, 2025: Investment in affiliates$138 $— $1,293 $— $1,431 Total segment assets$5,067 $9,831 $9,712 $(1,508)$23,102 Balance as of December 31, 2024:Investment in affiliates$132 $— $1,301 $— $1,433 Total segment assets$5,019 $9,707 $9,585 $(853)$23,458 (1)Eliminations and Other includes corporate assets and the elimination of inter-segment transactions.

20. REVENUE

Refer to Note 2. Significant Accounting Policies for a complete description of the Company’s revenue recognition accounting policy.Nature of Goods and ServicesThe principal activity from which the Company generates its revenue is the manufacturing of production parts for OEM customers. Aptiv recognizes revenue for production parts at a point in time, rather than over time, as the performance obligation is satisfied when customers obtain control of the product upon title transfer and not as the product is manufactured or developed.Although production parts are highly customized with no alternative use, Aptiv does not have an enforceable right to payment as customers have the right to cancel a product program without a notification period. The amount of revenue recognized is based on the purchase order price and adjusted for revenue allocated to variable consideration (i.e., estimated rebates and price discounts), as applicable. Customers typically pay for production parts based on customary business practices with payment terms averaging 60 days.The Company also generates revenue from the sale of software licenses, post delivery support and maintenance and professional software services. The Company generally recognizes revenue for software licenses and professional software services