Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 77

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 77
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 escalation clauses into our vehicle manufacturer supply contracts and hedging. We have also negotiated, and will continue to negotiate, price increases with our customers in response to the aforementioned increased overall inflation and global supply chain disruptions.

52

Three Months Ended March 31, 2025 versus Three Months Ended March 31, 2024

The results of operations for the three months ended March 31, 2025 and 2024 were as follows: Three Months Ended March 31, 2025 2024 Favorable/(unfavorable) (dollars in millions)Net sales$4,825 $4,901 $(76)Cost of sales3,905 4,023 118 Gross margin920 19.1%878 17.9%42 Selling, general and administrative384 366 (18)Amortization51 54 3 Restructuring37 39 2 Operating income448 419 29 Interest expense(93)(65)(28)Other income, net— 15 (15)Income before income taxes and equity loss355 369 (14)Income tax expense(356)(76)(280)(Loss) income before equity loss(1)293 (294)Equity loss, net of tax(10)(69)59 Net (loss) income(11)224 (235)Net income attributable to noncontrolling interest1 6 (5)Net loss attributable to redeemable noncontrolling interest(1)— (1)Net (loss) income attributable to Aptiv$(11)$218 $(229)

Total Net Sales

Below is a summary of our total net sales for the three months ended March 31, 2025 versus March 31, 2024. Three Months Ended March 31,Variance Due To: 20252024Favorable/(unfavorable)Volume, net of contractual price reductionsFXCommodity pass-throughOtherTotal (in millions)(in millions)Total net sales$4,825 $4,901 $(76)$(42)$(64)$30 $— $(76)

Total net sales for the three months ended March 31, 2025 decreased 2% compared to the three months ended March 31, 2024. Our volumes decreased 1% for the period, which primarily reflects volume declines in Europe and North America, compared to increased global automotive production of 1