Autoliv Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Autoliv Inc. has submitted its 2023 annual report (10-K), detailing financial performance and operational aspects for the fiscal year ending December 31, 2023.</b>

AI Summary

AUTOLIV INC (ALV) filed a Annual Report (10-K) with the SEC on February 20, 2024. Autoliv Inc. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company is incorporated in Delaware and operates in the Motor Vehicle Parts & Accessories sector. Key financial data and risk factors are detailed within the report. The report includes information on various financial instruments and asset types.

Why It Matters

For investors and stakeholders tracking AUTOLIV INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Autoliv's financial health, strategic initiatives, and risk exposures for the past fiscal year, crucial for investors assessing the company's stability and future prospects. The detailed financial statements and risk factor disclosures offer insights into the company's operational performance, market position, and potential challenges within the automotive parts industry.

Risk Assessment

Risk Level: medium — AUTOLIV INC shows moderate risk based on this filing. The company operates in the automotive parts sector, which is subject to cyclical economic conditions, technological shifts, and intense competition, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Autoliv's performance and outlook in the evolving automotive industry.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-20 — Filing Date (FILED AS OF DATE)
• 3714 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• AUTOLIV INC (company) — FILER
• 0000950170-24-016787 (other) — ACCESSION NUMBER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240220 (date) — FILED AS OF DATE
• 3714 (other) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (other) — STATE OF INCORPORATION
• 1231 (other) — FISCAL YEAR END
• ALV (ticker) — ticker symbol

FAQ

Industry Context

Autoliv Inc. operates in the Motor Vehicle Parts & Accessories industry, a sector critical to the automotive supply chain.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports like the 10-K.

What Investors Should Do

1. Review Autoliv's 2023 financial statements for revenue, net income, and EPS trends.
2. Analyze the risk factors section for potential operational, market, or financial challenges.
3. Examine any disclosed executive compensation details for insights into management incentives.

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, providing the first comprehensive look at the company's performance for the fiscal year ending December 31, 2023.

Key Financial Figures

• $1.00 — h registered: Common Stock (par value $1.00 per share) ALV New York Stock Excha
• $10.5 b — urers. The Company's sales in 2023 were $10.5 billion, approximately 67% of which consi
• $330 — South Korea) the average CPV is around $330. CPV growth in these regions mainly com
• $200 — Average CPV in these markets is around $200 or almost $130 less than in the high-in
• $130 — these markets is around $200 or almost $130 less than in the high-income markets.
• $23 billion — heels), is expected to grow from around $23 billion in 2023 to more than $25 billion over t
• $25 billion — around $23 billion in 2023 to more than $25 billion over the next three years, based on the

Filing Documents

• alv-20231231.htm (10-K) — 4410KB
• alv-ex10_37.htm (EX-10.37) — 121KB
• alv-ex21.htm (EX-21) — 27KB
• alv-ex23.htm (EX-23) — 5KB
• alv-ex31_1.htm (EX-31.1) — 16KB
• alv-ex31_2.htm (EX-31.2) — 16KB
• alv-ex32_1.htm (EX-32.1) — 10KB
• alv-ex32_2.htm (EX-32.2) — 10KB
• alv-ex97_1.htm (EX-97.1) — 99KB
• img34250656_0.jpg (GRAPHIC) — 225KB
• 0000950170-24-016787.txt (&nbsp;) — 18741KB
• alv-20231231.xsd (EX-101.SCH) — 2203KB
• alv-20231231_htm.xml (XML) — 3894KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 27 Item 4. Mine Safety Disclosures 27 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. [Reserved] Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 51 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 88 Item 9A.

Controls and Procedures

Controls and Procedures 88 Item 9B. Other Information 89 PART III Item 10. Directors, Executive Officers and Corporate Governance 90 Item 11.

Executive Compensation

Executive Compensation 90 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 90 Item 13. Certain Relationships and Related Transactions, and Director Independence 90 Item 14. Principal Accountant Fees and Services 90 PART IV Item 15. Exhibit and Financial Statement Schedules 91 1 NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. ("Autoliv," the "Company" or "we") or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "may," "likely," "might," "would," "should," "could," or the negative of these terms and other comparable terminology, although not all forward-looking statements contain such words. Because these forward-looking statements involve risks and uncertainties, the outcome could differ materially from those set out in the forward-looking statements for a variety of reasons, including

Business

Item 1. Business General Autoliv, Inc. ("Autoliv", the "Company" or "we") is a Delaware corporation with its principal executive offices in Stockholm, Sweden where it currently employs approximately 105 people. The Company functions as a holding corporation and owns two principal subsidiaries, Autoliv AB and Autoliv ASP, Inc. The Company's fiscal year ends on December 31. The Company is a leading developer, manufacturer, and supplier of passive safety systems to the automotive industry with a broad range of product offerings. Passive safety systems are primarily meant to improve safety for occupants in a vehicle. Passive safety systems include modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, and battery cut-off switches. To expand its product offerings, the Company has formed Mobility Safety Solutions. By combining its core competence and industry experience, the Company also develops and manufactures mobility safety solutions such as pedestrian protection, battery cut-off switches, connected safety services, and safety solutions for riders of powered two-wheelers. The Company has 63 production facilities in 23 countries and its customers include the world's largest car manufacturers. The Company's sales in 2023 were $10.5 billion, approximately 67% of which consisted of airbag and steering wheel products and approximately 33% of which consisted of seatbelt products. The Company's business is conducted in the following geographical regions: The Americas, Europe, China, and Asia, excluding China. On December 31, 2023, the Company had approximately 70,300 personnel worldwide, with 11% being temporary personnel. Additional information required by this Item 1 regarding developments in the Company's business during 2023 is contained under Item 7 in this Annual Report. Reportable Segment The Company has one reportable segment based on the way t

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View this 10-K filing on SEC EDGAR