Company: APTV
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001521332-25-000010
Chunk: 187

Company: Aptiv PLC
Filing Date: 2025-02-07
Form: 10-K
Item: Item 8
Chunk 187
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‘+ $15 million25 bp increase in discount rateLess than + $1 million‘- $15 million25 bp decrease in long-term expected return on assets‘+ $1 million—25 bp increase in long-term expected return on assets‘- $1 million—The above sensitivities reflect the effect of changing one assumption at a time. It should be noted that economic factors and conditions often affect multiple assumptions simultaneously and the effects of changes in key assumptions are not necessarily linear. The above sensitivities also assume no changes to the design of the pension plans and no major restructuring programs.

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Pension FundingThe following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Projected Pension Benefit Payments U.S. PlansNon-U.S. Plans (in millions)2025$— $52 2026$1 $46 2027$— $50 2028$— $53 2029$— $55 2030 – 2034$— $316 Aptiv anticipates making pension contributions and benefit payments of approximately $22 million in 2025.Aptiv sponsors defined contribution plans for certain hourly and salaried employees. Expense related to the contributions for these plans was $38 million, $42 million, and $39 million for the years ended December 31, 2024, 2023 and 2022, respectively.Plan AssetsCertain pension plans sponsored by Aptiv invest in a diversified portfolio consisting of an array of asset classes that attempts to maximize returns while minimizing volatility. These asset classes include developed market equities, emerging market equities, private equity, global high quality and high yield fixed income, real estate and absolute return strategies.The fair values of Aptiv’s pension plan assets weighted-average asset allocations at December 31, 2024 and 2023, by asset category, are as follows: Fair Value Measurements at December 31, 2024Asset CategoryTotalQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3) (in millions)Cash, cash equivalents and repurchase agreements (1)$(55)$4 $(59)$— Time deposits31 — 31 — Equity mutual funds20 — 20 — Bond mutual funds180 124 56 — Real estate trust funds19 — — 19