Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 177

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 177
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 had approximately $4 million outstanding through other letter of credit facilities as of March 31, 2025 and December 31, 2024, primarily to support arrangements and other obligations at certain of its subsidiaries.

9. PENSION BENEFITS

Certain of Aptiv’s non-U.S. subsidiaries sponsor defined benefit pension plans, which generally provide benefits based on negotiated amounts for each year of service. Aptiv’s primary non-U.S. plans are located in France, Germany, Mexico, Portugal and the United Kingdom (“U.K.”). The U.K. and certain Mexican plans are funded. In addition, Aptiv has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded over the requisite service period.Aptiv sponsors a Supplemental Executive Retirement Program (“SERP”) for those employees who were U.S. executives of the former Delphi Corporation prior to September 30, 2008 and were still U.S. executives of the Company on October 7, 2009, the effective date of the program. This program is unfunded. Executives receive benefits over five years after an involuntary or voluntary separation from Aptiv. The SERP is closed to new members.The amounts shown below reflect the defined benefit pension expense for the three months ended March 31, 2025 and 2024: Non-U.S. PlansU.S. Plans Three Months Ended March 31, 2025202420252024 (in millions)Service cost$5 $6 $— $— Interest cost10 11 — — Expected return on plan assets(4)(5)— — Net periodic benefit cost$11 $12 $— $— Other postretirement benefit obligations were approximately $1 million at March 31, 2025 and December 31, 2024.

10. COMMITMENTS AND CONTINGENCIES

Ordinary Business LitigationAptiv is from time to time subject to various legal actions and claims incidental to its business, including those arising out of alleged defects, alleged breaches of contracts, product warranties, intellectual property matters, and employment-related matters. It is the opinion of Aptiv that the outcome of such matters will not have a material adverse impact on the consolidated financial position, results of operations, or cash flows of Aptiv. With respect to warranty matters, although Aptiv cannot ensure that the future costs of warranty claims by customers will not be