Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 84

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 84
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 Months Ended March 31,Variance Due To: 20252024Favorable/(unfavorable)Volume, net of contractual price reductionsOperational performanceOtherTotal (in millions)(in millions)Electrical Distribution Systems$143 $136 $7 $(10)$35 $(18)$7 Engineered Components Group$274 $253 $21 $4 $32 $(15)$21 Advanced Safety and User Experience$155 $155 $— $(3)$45 $(42)$— 

As noted in the table above, Adjusted Operating Income for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 was impacted by operational performance and volume, including product mix, net of contractual price reductions. Adjusted Operating Income was also impacted by the following items included within Other in the table above:

•$20 million of increased SG&A expense, not including the impact of separation costs and other acquisition and portfolio project costs; 

•$16 million of unfavorable foreign currency impacts; 

•Approximately $15 million of increased depreciation, primarily as a result of a higher fixed asset base; and

•$15 million of increased warranty costs.

Liquidity and Capital Resources

Overview of Capital Structure

Our liquidity requirements are primarily to fund our business operations, including capital expenditures and working capital requirements, as well as to fund debt service requirements, operational restructuring activities and separation activities. Our primary sources of liquidity are cash flows from operations, our existing cash balance, and as necessary and available, borrowings under credit facilities and issuance of long-term debt and equity. To the extent we generate discretionary cash flow we may consider using this additional cash flow for optional prepayments of existing indebtedness, strategic acquisitions or investments, additional share repurchases and/or general corporate purposes. We also continually explore ways to enhance our capital structure.

As of March 31, 2025, we had cash and cash equivalents of $1.1 billion and net debt (defined as outstanding debt less cash and cash equivalents) of $6.8 billion. The following table summarizes our available liquidity, which includes cash, cash equivalents and funds available under our significant committed credit facilities, as of March 31, 2025:

March 31,2025 (in millions)Cash and cash equivalents$1,100 Revolving Credit Facility, unutilized portion (1)1,998 Committed European accounts receivable fact