Autoliv Inc. Files Q2 2024 10-Q Report

TL;DR

**AUTOLIV Q2 10-Q FILED: Financials and operations detailed for period ending 6/30/24.**

AI Summary

Autoliv Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in the automotive parts sector.

Why It Matters

This report provides investors and analysts with a detailed look at Autoliv's financial health and operational performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the automotive sector can be subject to cyclical economic pressures and supply chain disruptions.

Key Numbers

• Q2 2024 — Reporting Period (The second quarter of 2024, for which financial results are reported.)
• 2024-06-30 — Period End Date (The specific date marking the end of the financial reporting period.)
• 2024-07-19 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• AUTOLIV INC (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240719 (date) — Filing date of the report
• MOTOR VEHICLE PARTS & ACCESSORIES (industry) — Standard Industrial Classification for Autoliv Inc.
• DE (location) — State of incorporation
• OGDEN (location) — City of business address
• UT (location) — State of business address
• STOCKHOLM (location) — City of mailing address

FAQ

Key Financial Figures

• $1.00 — ch registered Common Stock (par value $1.00 per share) ALV New York Stock Excha

Filing Documents

• alv-20240630.htm (10-Q) — 2221KB
• alv-ex10_1.htm (EX-10.1) — 41KB
• alv-ex10_2.htm (EX-10.2) — 120KB
• alv-ex31_1.htm (EX-31.1) — 15KB
• alv-ex31_2.htm (EX-31.2) — 15KB
• alv-ex32_1.htm (EX-32.1) — 8KB
• alv-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-084773.txt ( ) — 7075KB
• alv-20240630.xsd (EX-101.SCH) — 700KB
• alv-20240630_htm.xml (XML) — 1129KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 without limitation: general economic conditions, including inflation; changes in light vehicle production; fluctuation in vehicle production schedules for which the Company is a supplier; global supply chain disruptions, including port, transportation and distribution delays or interruptions; supply chain disruptions and componen

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 4

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 4 1. Basis of Presentation 9 2. New Accounting Standards 10 3. Fair Value Measurements 11 4. Income Taxes 14 5. Inventories 14 6. Restructuring 15 7. Product-Related Liabilities 15 8. Retirement Plans 16 9. Contingent Liabilities 17 10. Stock Incentive Plan 19 11. Earnings Per Share 19 12. Revenue Disaggregation 19 13. Subsequent Events 20

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 21

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 35

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 35

- OTHER INFORMATION

PART II - OTHER INFORMATION 36

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 36

RISK FACTORS

ITEM 1A. RISK FACTORS 36

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 36

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 36

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 36

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 36

EXHIBITS

ITEM 6. EXHIBITS 37 3

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

FINANCI AL STATEMENTS

ITEM 1. FINANCI AL STATEMENTS CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Dollars in millions, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 2,605 $ 2,635 $ 5,220 $ 5,127 Cost of sales ( 2,130 ) ( 2,188 ) ( 4,303 ) ( 4,301 ) Gross profit 475 447 917 826 Selling, general and administrative expenses ( 138 ) ( 130 ) ( 270 ) ( 262 ) Research, development and engineering expenses, net ( 116 ) ( 120 ) ( 229 ) ( 237 ) Other income (expense), net ( 14 ) ( 103 ) ( 18 ) ( 107 ) Operating income 206 94 400 221 Income from equity method investment 2 1 3 2 Interest income 3 6 7 8 Interest expense ( 28 ) ( 25 ) ( 54 ) ( 45 ) Other non-operating items, net 1 7 ( 0 ) 5 Income before income taxes 183 83 356 191 Income tax expense ( 44 ) ( 30 ) ( 91 ) ( 64 ) Net income 1 ) 139 53 266 127 Less: Net income attributable to non-controlling interest 0 0 1 1 Net income attributable to controlling interest $ 138 $ 53 $ 265 $ 127 Net earnings per share – basic $ 1.71 $ 0.61 $ 3.24 $ 1.48 Net earnings per share – diluted $ 1.71 $ 0.61 $ 3.23 $ 1.47 Weighted average number of shares outstanding, net of treasury shares (in millions) 80.9 85.6 81.6 85.9 Weighted average number of shares outstanding, assuming dilution and net of treasury shares (in millions) 81.1 85.8 82.1 86.0 Cash dividend per share – declared $ 0.68 $ 0.66 $ 1.36 $ 1.32 Cash dividend per share – paid $ 0.68 $ 0.66 $ 1.36 $ 1.32 1) For the three months periods ended June 30, 2024 and 2023, the aggregate transaction gain (loss) included in net income for the period were a gain of $ 4 million and a loss of $ 10 million, respectively. F

View Full Filing

View this 10-Q filing on SEC EDGAR