Company: APTV
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001521332-25-000010
Chunk: 215

Company: Aptiv PLC
Filing Date: 2025-02-07
Form: 10-K
Item: Item 8
Chunk 215
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 December 31, 2022 and during the first quarter of 2023, $36 million was paid and recognized as a cash outflow from investing activities for the year ended December 31, 2023. Adjustments recorded from the amounts disclosed as of December 31, 2022 included a reduction to accrued liabilities of $20 million, a reduction to deferred tax liabilities of $10 million and minor adjustments to various other assets acquired and liabilities assumed, resulting in a net reduction to goodwill of $23 million. The final purchase price and related allocation to the acquired net assets of Wind River based on their estimated fair values is shown below (in millions):Assets acquired and liabilities assumedPurchase price, cash consideration, net of cash acquired$3,520 Accounts receivable, net$91 Contract assets67 Property, plant and equipment14 Intangible assets1,490 Contract liabilities(101)Accrued liabilities(42)Deferred tax liabilities(277)Other liabilities, net(1)Identifiable net assets acquired1,241 Goodwill resulting from purchase2,279 Total purchase price allocation$3,520 Intangible assets primarily include $750 million of technology-related assets with approximate useful lives of sixteen years, $630 million for the fair value of customer-based assets with approximate useful lives ranging from sixteen to twenty-two years and $110 million recognized for the fair value of the acquired trade name with an approximate useful life of eighteen years. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches and is sensitive to certain assumptions including discount rates, projected revenue growth rates and profit margin. These assumptions are forward-looking in nature and are dependent on the future performance of Wind River and could be affected by future economic and market conditions. Goodwill recognized in this transaction is primarily attributable to expanded market opportunities, including integrating Wind River’s product offerings with existing Company offerings, synergies expected to arise after the acquisition and the assembled workforce of Wind River and is not deductible for tax purposes.The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented.

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Acquisition of Controlling Interest in Intercable Automotive Solutions S.r.l.On November 30, 2022, Aptiv acquired 85% of the equity interests of Intercable Automotive Solutions S.r.l. (“Intercable Automotive”), a manufacturer of high-voltage busbars and interconnect solutions