Company: APTV
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001521332-25-000010
Chunk: 91

Company: Aptiv PLC
Filing Date: 2025-02-07
Form: 10-K
Item: Item 7
Chunk 91
---
 in order to align manufacturing capacity and other costs with prevailing regional automotive production levels and locations, to improve the efficiency and utilization of other locations and in order to increase investment in advanced technologies and engineering. Such future restructuring actions are dependent on market conditions, customer actions and other factors.

Refer to Note 10. Restructuring to the audited consolidated financial statements included herein for additional information.

Interest Expense

 Year Ended December 31, 20242023Favorable/(unfavorable) (in millions)Interest expense$337 $285 $(52)

The increase in interest expense during the year ended December 31, 2024 compared to 2023 primarily reflects the issuance of €750 million in aggregate principal amount of 4.25% Euro-denominated senior unsecured notes due 2036 in June 2024, the proceeds of which were ultimately used to redeem the €700 million in aggregate principal amount of 1.50% Euro-denominated senior unsecured notes due 2025, the $2.5 billion senior unsecured bridge facility borrowings under a Bridge Credit Agreement (the “Bridge Credit Agreement”) entered into in August 2024, the $600 million term loan (the “Term Loan A”) issued under the senior unsecured Term Loan A Credit Agreement entered into in August 2024, the issuance of $1,650 million in aggregate principal amount of senior unsecured notes (the “2024 Senior Notes) in September 2024 and the issuance of $500 million in aggregate principal amount of junior subordinated notes (the “2024 Junior Notes”) in September 2024, partially offset by the redemption of the $700 million in aggregate principal amount of 2.396% senior unsecured notes due 2025 (the “2.396% Senior Notes”) in September 2024.

The Bridge Credit Agreement, which was utilized to initially fund a portion of the accelerated share repurchase program, was fully repaid and terminated during the third quarter of 2024 using proceeds from the issuance of the new Term Loan A, the 2024 Senior Notes and the 2024 Junior Notes. Refer to Note 11. Debt and Note 15. Shareholders’ Equity and Net Income Per Share to the audited consolidated financial statements included herein for additional information.

45

Other Income, Net

 Year Ended December 31, 20242023Favorable/(unfavorable) (in millions)Other income, net$41 $63 $(22)