Company: APTV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001521332-25-000040
Chunk: 21

Company: Aptiv PLC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 21
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15 million, respectively, for a program initiated in the fourth quarter of 2024 focused on global salaried workforce optimization, primarily in the European region. The charges recorded during the three and six months ended June 30, 2025 also included the recognition of approximately $9 million and $22 million, respectively, within the Electrical Distribution Systems segment for programs to downsize and close European manufacturing sites.There have been no changes in previously initiated programs that have resulted (or are expected to result) in a material change to our restructuring costs. The Company expects to incur additional restructuring costs of approximately $25 million (of which approximately $10 million relates to the Electrical Distribution Systems segment, approximately $10 million relates to the Engineering Components Group segment and approximately $5 million relates to the Advanced Safety and User Experience segment) for programs approved as of June 30, 2025, and are expected to be incurred within the next twelve months.During the three and six months ended June 30, 2024, Aptiv recorded employee-related and other restructuring charges totaling approximately $70 million and $109 million, respectively, which included the recognition of approximately $30 million and $54 million, respectively, for a program initiated in the fourth quarter of 2023 focused on global salaried workforce optimization, primarily in the European region. The charges recorded during the three and six months ended June 30, 2024 also reflected programs to align manufacturing capacity with the current levels of automotive production in North America and Asia Pacific.Restructuring charges for employee separation and termination benefits are paid either over the severance period or in a lump sum in accordance with either statutory requirements or individual agreements. Aptiv incurred cash expenditures related to its restructuring programs of approximately $87 million and $143 million in the six months ended June 30, 2025 and 2024, respectively.The following table summarizes the restructuring charges recorded for the three and six months ended June 30, 2025 and 2024 by operating segment: Three Months Ended June 30,Six Months Ended June 30,2025202420252024 (in millions)Electrical Distribution Systems$25 $35 $41 $50 Engineered Components Group17 19 32 26 Advanced Safety and User Experience10 16 16 33 Total$52 $70 $89 $109 The table below summarizes the activity in the restructuring liability for the six months ended June 30, 2025:Employee Termination Benefits Liability