EX-99.2 3 aptv2024ex992.htm EXHIBIT 99.2

Exhibit 99.2

RECAST OF OPERATING SEGMENTS

(Unaudited)

Beginning in the first quarter of 2025, Aptiv PLC (“Aptiv” or “the Company”) is realigning its business into three reportable operating segments: Electrical Distribution Systems, Engineered Components Group and Advanced Safety and User Experience.

To assist investors who may want to consider the effects of these segment reporting changes on Aptiv’s historical results, unaudited recast segment financial information for each quarter of fiscal years 2023 and 2024 and for the fiscal years ended December 31, 2023 and 2024 are shown below. The changes to Aptiv’s segment reporting will be reflected in Aptiv’s financial statements commencing with the first Quarterly Report of 2025 on Form 10-Q.

			Year Ended December 31, 2024
			First Quarter						Second Quarter						Third Quarter						Fourth Quarter						Total
			(in millions)
Net Sales
Electrical Distribution Systems			$	2,081					$	2,065					$	2,035					$	2,128					$	8,309
Engineered Components Group			1,596						1,626						1,582						1,580						6,384
Advanced Safety and User Experience			1,429						1,554						1,427						1,381						5,791
Eliminations and Other (a)			(205)						(194)						(190)						(182)						(771)
Net Sales			$	4,901					$	5,051					$	4,854					$	4,907					$	19,713
Adjusted Operating Income
Electrical Distribution Systems			$	136					$	138					$	125					$	180					$	579
Engineered Components Group			253						298						272						250						1,073
Advanced Safety and User Experience			155						170						196						193						714
Adjusted Operating Income			$	544					$	606					$	593					$	623					$	2,366

			Year Ended December 31, 2023
			First Quarter						Second Quarter						Third Quarter						Fourth Quarter						Total
			(in millions)
Net Sales
Electrical Distribution Systems			$	2,111					$	2,278					$	2,259					$	2,184					$	8,832
Engineered Components Group			1,559						1,622						1,652						1,582						6,415
Advanced Safety and User Experience			1,366						1,532						1,441						1,356						5,695
Eliminations and Other (a)			(218)						(232)						(238)						(203)						(891)
Net Sales			$	4,818					$	5,200					$	5,114					$	4,919					$	20,051
Adjusted Operating Income
Electrical Distribution Systems			$	141					$	152					$	173					$	201					$	667
Engineered Components Group			233						240						278						258						1,009
Advanced Safety and User Experience			63						138						109						141						451
Adjusted Operating Income			$	437					$	530					$	560					$	600					$	2,127

(a)			Eliminations and Other includes the elimination of inter-segment transactions.

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RECONCILIATION OF NON-GAAP MEASURES

(Unaudited)

Adjusted Operating Income represents a non-GAAP financial measure, which is reconciled to its closest GAAP financial measure in the following schedules.

Consolidated Adjusted Operating Income
			Year Ended December 31, 2024
			First Quarter						Second Quarter						Third Quarter						Fourth Quarter						Total
			($ in millions)
Net income attributable to Aptiv			$	218					$	938					$	363					$	268					$	1,787
Interest expense			65						64						101						107						337
Other income, net			(15)						(10)						(5)						(11)						(41)
Net (gain) loss on equity method transactions			—						(641)						—						36						(605)
Income tax expense			76						51						32						64						223
Equity loss, net of tax			69						34						7						8						118
Net income attributable to noncontrolling interest			6						5						7						6						24
Net (loss) income attributable to redeemable noncontrolling interest			—						—						(2)						1						(1)
Operating income			$	419					$	441					$	503					$	479					$	1,842
Amortization			54						52						53						52						211
Restructuring			39						70						16						68						193
Other acquisition and portfolio project costs			28						25						13						14						80
Asset impairments			—						14						3						5						22
Compensation expense related to acquisitions			4						4						5						5						18
Adjusted operating income			$	544					$	606					$	593					$	623					$	2,366

			Year Ended December 31, 2023
			First Quarter						Second Quarter						Third Quarter						Fourth Quarter						Total
			($ in millions)
Net income attributable to Aptiv			$	162					$	242					$	1,629					$	905					$	2,938
Interest expense			67						72						75						71						285
Other expense (income), net			1						(11)						(26)						(27)						(63)
Income tax expense (benefit)			34						30						(1,312)						(680)						(1,928)
Equity loss, net of tax			82						73						72						72						299
Net income attributable to noncontrolling interest			3						4						8						13						28
Net (loss) income attributable to redeemable noncontrolling interest			(1)						—						—						1						—
Operating income			$	348					$	410					$	446					$	355					$	1,559
Amortization			59						59						59						56						233
Restructuring			11						42						28						130						211
Other acquisition and portfolio project costs			14						11						20						35						80
Asset impairments			—						—						—						18						18
Compensation expense related to acquisitions			5						8						7						6						26
Adjusted operating income			$	437					$	530					$	560					$	600					$	2,127

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Segment Adjusted Operating Income
(in millions)
Three Months Ended March 31, 2024			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	109					$	208					$	102					$	419
Amortization			1						30						23						54
Restructuring			15						7						17						39
Other acquisition and portfolio project costs			11						8						9						28
Compensation expense related to acquisitions			—						—						4						4
Adjusted operating income			$	136					$	253					$	155					$	544
Depreciation and amortization (a)			$	58					$	103					$	69					$	230
Three Months Ended June 30, 2024			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	94					$	240					$	107					$	441
Amortization			—						31						21						52
Restructuring			35						19						16						70
Other acquisition and portfolio project costs			9						8						8						25
Asset impairments			—						—						14						14
Compensation expense related to acquisitions			—						—						4						4
Adjusted operating income			$	138					$	298					$	170					$	606
Depreciation and amortization (a)			$	56					$	106					$	86					$	248
Three Months Ended September 30, 2024			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	110					$	231					$	162					$	503
Amortization			—						31						22						53
Restructuring			10						3						3						16
Other acquisition and portfolio project costs			5						4						4						13
Asset impairments			—						3						—						3
Compensation expense related to acquisitions			—						—						5						5
Adjusted operating income			$	125					$	272					$	196					$	593
Depreciation and amortization (a)			$	59					$	111					$	71					$	241
Three Months Ended December 31, 2024			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	133					$	204					$	142					$	479
Amortization			1						28						23						52
Restructuring			41						10						17						68
Other acquisition and portfolio project costs			5						3						6						14
Asset impairments			—						5						—						5
Compensation expense related to acquisitions			—						—						5						5
Adjusted operating income			$	180					$	250					$	193					$	623
Depreciation and amortization (a)			$	62					$	109					$	74					$	245

(a)			Includes asset impairments.

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Segment Adjusted Operating Income
(in millions)
Three Months Ended March 31, 2023			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	131					$	188					$	29					$	348
Amortization			4						32						23						59
Restructuring			3						4						4						11
Other acquisition and portfolio project costs			3						9						2						14
Compensation expense related to acquisitions			—						—						5						5
Adjusted operating income			$	141					$	233					$	63					$	437
Depreciation and amortization (a)			$	48					$	101					$	67					$	216
Three Months Ended June 30, 2023			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	143					$	197					$	70					$	410
Amortization			4						32						23						59
Restructuring			—						8						34						42
Other acquisition and portfolio project costs			5						3						3						11
Compensation expense related to acquisitions			—						—						8						8
Adjusted operating income			$	152					$	240					$	138					$	530
Depreciation and amortization (a)			$	50					$	105					$	69					$	224
Three Months Ended September 30, 2023			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	160					$	235					$	51					$	446
Amortization			3						32						24						59
Restructuring			2						5						21						28
Other acquisition and portfolio project costs			8						6						6						20
Compensation expense related to acquisitions			—						—						7						7
Adjusted operating income			$	173					$	278					$	109					$	560
Depreciation and amortization (a)			$	53					$	107					$	66					$	226
Three Months Ended December 31, 2023			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	130					$	195					$	30					$	355
Amortization			1						32						23						56
Restructuring			43						17						70						130
Other acquisition and portfolio project costs			14						12						9						35
Asset impairments			13						2						3						18
Compensation expense related to acquisitions			—						—						6						6
Adjusted operating income			$	201					$	258					$	141					$	600
Depreciation and amortization (a)			$	27					$	147					$	72					$	246

(a)			Includes asset impairments.

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Segment Adjusted Operating Income
(in millions)
Year Ended December 31, 2024			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	446					$	883					$	513					$	1,842
Amortization			2						120						89						211
Restructuring			101						39						53						193
Other acquisition and portfolio project costs			30						23						27						80
Asset impairments			—						8						14						22
Compensation expense related to acquisitions			—						—						18						18
Adjusted operating income			$	579					$	1,073					$	714					$	2,366
Depreciation and amortization (a)			$	235					$	429					$	300					$	964
Year Ended December 31, 2023			Electrical Distribution Systems						Engineered Components Group						Advanced Safety and User Experience						Total
Operating income			$	564					$	815					$	180					$	1,559
Amortization			12						128						93						233
Restructuring			48						34						129						211
Other acquisition and portfolio project costs			30						30						20						80
Asset impairments			13						2						3						18
Compensation expense related to acquisitions			—						—						26						26
Adjusted operating income			$	667					$	1,009					$	451					$	2,127
Depreciation and amortization (a)			$	178					$	460					$	274					$	912

(a)			Includes asset impairments.

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