Company: APTV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001521332-25-000051
Chunk: 196

Company: Aptiv PLC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 196
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 respectively.Letter of credit facilities—In addition to the letters of credit issued under the Credit Agreement, Aptiv had approximately $3 million and $4 million outstanding through other letter of credit facilities as of September 30, 2025 and December 31, 2024, respectively, 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.

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The amounts shown below reflect the defined benefit pension expense for the three and nine months ended September 30, 2025 and 2024: Non-U.S. PlansU.S. Plans Three Months Ended September 30, 2025202420252024 (in millions)Service cost$5 $4 $— $— Interest cost11 9 — — Expected return on plan assets(5)(4)— — Net periodic benefit cost$11 $9 $— $—  Non-U.S. PlansU.S. Plans Nine Months Ended September 30, 2025202420252024 (in millions)Service cost$15 $14 $— $— Interest cost31 30 — — Expected return on plan assets(13)(13)— — Amortization of actuarial losses1 — — 1 Net periodic benefit cost$34 $31 $— $1 Other postretirement benefit obligations were approximately $1 million at September 30