Aptiv PLC Files 2023 Annual Report on Form 10-K

TL;DR

<b>Aptiv PLC has submitted its 2023 10-K annual report detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Aptiv PLC (APTV) filed a Annual Report (10-K) with the SEC on February 6, 2024. Aptiv PLC filed its 10-K report for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Aptiv PLC is incorporated in Y9 and its fiscal year ends on December 31. The company's principal executive offices are located in Dublin, Ireland. The SIC code for Aptiv PLC is 3714, related to Motor Vehicle Parts & Accessories.

Why It Matters

For investors and stakeholders tracking Aptiv PLC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Aptiv's financial health, strategic initiatives, and risk factors for investors and stakeholders. Understanding the details within this report is crucial for assessing Aptiv's performance in the automotive parts industry and its future outlook.

Risk Assessment

Risk Level: medium — Aptiv PLC shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure. However, the automotive industry is subject to significant market and operational risks that are detailed within the report.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Aptiv's performance and potential challenges in the automotive sector.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-06 — Filing Date (Filed as of date)
• 0001521332-24-000011 — Accession Number (Unique identifier for the filing)
• 3714 — SIC Code (Motor Vehicle Parts & Accessories)

Key Players & Entities

• Aptiv PLC (company) — Filer
• Delphi Automotive PLC (company) — Former company name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-06 (date) — Filed as of date
• Dublin (location) — Business address city
• 3714 (industry) — Standard Industrial Classification

Forward-Looking Statements

• Aptiv will likely focus on refinancing or repaying its 2025 senior notes to manage near-term debt obligations. (Aptiv PLC) — high confidence, target: 2025
• The company's long-term debt structure, extending to 2052, suggests a stable but leveraged financial strategy. (Aptiv PLC) — medium confidence, target: 2052

FAQ

Industry Context

Aptiv PLC operates in the automotive industry, specifically in the manufacturing of vehicle parts and accessories.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze Aptiv's revenue segments and growth rates for FY2023.
2. Examine the company's debt structure and leverage ratios.
3. Review the identified risk factors and management's mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-06: Filing Date — Date Aptiv PLC submitted its 10-K to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the period ending December 31, 2023, following the previous year's report.

Key Financial Figures

• $0.01 — e on which registered Ordinary Shares. $0.01 par value per share APTV New York Stock

Filing Documents

• aptv-20231231.htm (10-K) — 3886KB
• aptv2023ex49.htm (EX-4.9) — 135KB
• aptv2023ex19.htm (EX-19) — 56KB
• aptv2023ex211.htm (EX-21.1) — 156KB
• aptvq42023ex22.htm (EX-22) — 3KB
• aptv2023ex231.htm (EX-23.1) — 4KB
• aptv2023ex311.htm (EX-31.1) — 10KB
• aptv2023ex312.htm (EX-31.2) — 10KB
• aptv2023ex321.htm (EX-32.1) — 5KB
• aptv2023ex322.htm (EX-32.2) — 5KB
• aptv2023ex97.htm (EX-97) — 25KB
• aptv-20231231_g1.jpg (GRAPHIC) — 65KB
• aptv-20231231_g2.jpg (GRAPHIC) — 101KB
• image_0a.jpg (GRAPHIC) — 14KB
• 0001521332-24-000011.txt (&nbsp;) — 23263KB
• aptv-20231231.xsd (EX-101.SCH) — 119KB
• aptv-20231231_cal.xml (EX-101.CAL) — 163KB
• aptv-20231231_def.xml (EX-101.DEF) — 830KB
• aptv-20231231_lab.xml (EX-101.LAB) — 1630KB
• aptv-20231231_pre.xml (EX-101.PRE) — 1260KB
• aptv-20231231_htm.xml (XML) — 4369KB

Business

Item 1. Business 5 Supplementary Item. Executive Officers of the Registrant 13

Risk Factors

Item 1A. Risk Factors 15

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 27

Cybersecurity

Item 1C. Cybersecurity 27

Properties

Item 2. Properties 29

Legal Proceedings

Item 3. Legal Proceedings 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30

[Reserved ]

Item 6. [Reserved ] 31

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 57

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 60

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 127

Controls and Procedures

Item 9A. Controls and Procedures 127

Other Information

Item 9B. Other Information 128 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 129

Executive Compensation

Item 11. Executive Compensation 129

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

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 129

Certain Relationships and Related Transactions and Director Independence

Item 13. Certain Relationships and Related Transactions and Director Independence 129

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 129 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 130 3 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This Annual Report on Form 10-K, including the exhibits being filed as part of this report, as well as other statements made by Aptiv PLC ("Aptiv," the "Company," "we," "us" and "our"), contain forward-looking statements that reflect, when made, the Company's current views with respect to current events, certain investments and acquisitions and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment, which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. All statements that address future operating, financial or business performance or the Company's strategies or expectations are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "projects," "potential," "outlook" or "continue," and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: global and regional economic conditions, including conditions affecting the credit market; global inflationary pressures; uncertainties created by the conflict between Ukraine and Russia, and its impacts to the European and global economies and our operations in each country; uncertainties created by the conflicts in the Middle East and their impacts on global economies; fluctuations in interest rates and foreign currency exchange rates; the cyclical nature of global automotive sales and production; the potential disruptions in the supply of and changes in the competitive environment for raw

BUSINESS

ITEM 1. BUSINESS "Aptiv," the "Company," "we," "us" and "our" refer to Aptiv PLC (formerly known as Delphi Automotive PLC), a public limited company formed under the laws of Jersey on May 19, 2011, which completed an initial public offering on November 22, 2011, and its consolidated subsidiaries. The Company's ordinary shares are publicly traded on the New York Stock Exchange under the symbol "APTV." Aptiv is a leading global technology and mobility architecture company primarily serving the automotive sector. We deliver end-to-end mobility solutions, enabling our customers' transition to more electrified, software-defined vehicles. We design and manufacture vehicle components and provide electrical, electronic and active safety technology solutions to the global automotive and commercial vehicle markets, creating the software and hardware foundation for vehicle features and functionality. Our Advanced Safety and User Experience segment is focused on providing the necessary software and advanced computing platforms, and our Signal and Power Solutions segment is focused on providing the requisite networking architecture required to support the integrated systems in today's complex vehicles. Together, our businesses develop the brain' and the nervous system' of increasingly complex vehicles, providing integration of the vehicle into its operating environment. We are one of the largest vehicle technology suppliers and our customers include the 25 largest automotive original equipment manufacturers ("OEMs") in the world. We operate 138 major manufacturing facilities and 11 major technical centers utilizing a regional service model that enables us to efficiently and effectively serve our global customers from best cost countries. We have a presence in 50 countries and have approximately 22,200 scientists, engineers and technicians focused on developing market relevant product solutions for our customers. We are focused on growing and improving the profitability of ou

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View this 10-K filing on SEC EDGAR