Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 24, 2020 | Jun. 30, 2019 | |
Cover page. | |||
Document Type | 10-K | ||
Entity Central Index Key | 0001521332 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 001-35346 | ||
Entity Registrant Name | APTIV PLC | ||
Entity Incorporation, State or Country Code | Y9 | ||
Entity Tax Identification Number | 98-1029562 | ||
Entity Address, Address Line One | 5 Hanover Quay | ||
Entity Address, Address Line Two | Grand Canal Dock | ||
Entity Address, City or Town | Dublin | ||
Entity Address, Postal Zip Code | D02 VY79 | ||
Entity Address, Country | IE | ||
City Area Code | 353 | ||
Country Region | 1 | ||
Local Phone Number | 259-7013 | ||
Title of 12(b) Security | Ordinary Shares. $0.01 par value per share | ||
Trading Symbol | APTV | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 20,638,801,929 | ||
Entity Common Stock, Shares Outstanding | 255,288,240 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Income Statement [Abstract] | ||||||||||||||
Revenues | $ 3,596 | $ 3,559 | $ 3,627 | $ 3,575 | $ 3,636 | $ 3,485 | $ 3,684 | $ 3,630 | $ 14,357 | $ 14,435 | $ 12,884 | |||
Operating expenses: | ||||||||||||||
Cost of Goods and Services Sold | 2,909 | 2,882 | 2,958 | 2,962 | 2,967 | 2,834 | 2,958 | 2,947 | 11,711 | 11,706 | 10,270 | |||
Selling, general and administrative | 1,076 | 993 | 952 | |||||||||||
Amortization | 146 | 154 | 117 | |||||||||||
Restructuring | 61 | 65 | 148 | 109 | 129 | |||||||||
Total operating expenses | 13,081 | 12,962 | 11,468 | |||||||||||
Operating income | 324 | 320 | 335 | 297 | 355 | 323 | 421 | 374 | 1,276 | [1] | 1,473 | [2] | 1,416 | [3] |
Interest expense | (164) | (141) | (140) | |||||||||||
Other expense, net | 14 | 2 | (21) | |||||||||||
Income from continuing operations before income taxes and equity income | 1,126 | 1,334 | 1,255 | |||||||||||
Income tax expense | (132) | (250) | (223) | |||||||||||
Income from continuing operations before equity income | 994 | 1,084 | 1,032 | |||||||||||
Equity income, net of tax | 15 | 23 | 31 | |||||||||||
Income from continuing operations | 241 | 252 | 271 | 245 | 257 | 231 | 303 | 316 | 1,009 | 1,107 | 1,063 | |||
Income from discontinued operations, net of tax | 0 | 0 | 365 | |||||||||||
Net income | 1,009 | 1,107 | 1,428 | |||||||||||
Net income attributable to noncontrolling interest | 19 | 40 | 73 | |||||||||||
Net income attributable to Aptiv | 230 | 246 | 274 | 240 | 247 | 222 | 291 | 307 | 990 | 1,067 | 1,355 | |||
Amounts attributable to Aptiv: | ||||||||||||||
Income from continuing operations | 990 | 1,067 | 1,021 | |||||||||||
Income from discontinued operations | 0 | 0 | 334 | |||||||||||
Net income attributable to Aptiv | $ 230 | $ 246 | $ 274 | $ 240 | $ 247 | $ 222 | $ 291 | $ 307 | $ 990 | $ 1,067 | $ 1,355 | |||
Basic net income per share: | ||||||||||||||
Income from continuing operations, per basic share | $ 3.85 | $ 4.04 | $ 3.82 | |||||||||||
Income from discontinued operations, per basic share | 0 | 0 | 1.25 | |||||||||||
Basic net income per share attributable to Aptiv | $ 0.90 | $ 0.96 | $ 1.07 | $ 0.93 | $ 0.94 | $ 0.84 | $ 1.10 | $ 1.16 | $ 3.85 | $ 4.04 | $ 5.07 | |||
Weighted average number of basic shares outstanding | 255,310 | 255,890 | 257,020 | 259,080 | 262,610 | 264,560 | 264,810 | 265,690 | 256,810 | 264,410 | 267,160 | |||
Diluted net income per share: | ||||||||||||||
Income from continuing operations, per diluted share | $ 3.85 | $ 4.02 | $ 3.81 | |||||||||||
Income from discontinued operations, per diluted share | 0 | 0 | 1.25 | |||||||||||
Diluted net income per share attributable to Aptiv | $ 0.90 | $ 0.96 | $ 1.07 | $ 0.92 | $ 0.94 | $ 0.84 | $ 1.10 | $ 1.15 | $ 3.85 | $ 4.02 | $ 5.06 | |||
Weighted average number of diluted shares outstanding | 256,360 | 256,440 | 257,260 | 259,550 | 263,650 | 265,330 | 265,480 | 266,440 | 257,390 | 265,220 | 268,030 | |||
[1] | Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. | |||||||||||||
[2] | Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. | |||||||||||||
[3] | Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 1,009 | $ 1,107 | $ 1,428 |
Other comprehensive (loss) income: | |||
Currency translation adjustments | (45) | (194) | 315 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax (Note 17) | 56 | (39) | 15 |
Employee benefit plans adjustment, net of tax (Note 12) | (30) | 2 | 11 |
Other comprehensive income (loss) | (19) | (231) | 341 |
Comprehensive income | 990 | 876 | 1,769 |
Comprehensive income attributable to noncontrolling interests | 16 | 32 | 83 |
Comprehensive income attributable to Aptiv | $ 974 | $ 844 | $ 1,686 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 412 | $ 567 |
Restricted cash | 16 | 1 |
Accounts receivable, net | 2,569 | 2,487 |
Inventories (Note 3) | 1,286 | 1,277 |
Other current assets (Note 4) | 504 | 445 |
Disposal Group, Including Discontinued Operation, Assets, Current | 532 | 0 |
Total current assets | 5,319 | 4,777 |
Long-term assets: | ||
Property, net (Note 6) | 3,309 | 3,179 |
Operating Lease, Right-of-Use Asset | 413 | 0 |
Investments in affiliates | 106 | 99 |
Intangible assets, net (Note 7) | 1,186 | 1,380 |
Goodwill (Note 7) | 2,407 | 2,524 |
Other long-term assets (Note 4) | 719 | 521 |
Total long-term assets | 8,140 | 7,703 |
Total assets | 13,459 | 12,480 |
Current liabilities: | ||
Short-term debt (Note 11) | 393 | 306 |
Accounts payable | 2,463 | 2,334 |
Accrued liabilities (Note 8) | 1,155 | 1,054 |
Disposal Group, Including Discontinued Operation, Liabilities, Current | 43 | 0 |
Total current liabilities | 4,054 | 3,694 |
Long-term liabilities: | ||
Long-term debt (Note 11) | 3,971 | 4,038 |
Pension benefit obligations | 483 | 445 |
Operating Lease, Liability, Noncurrent | 329 | 0 |
Other long-term liabilities (Note 8) | 611 | 633 |
Total long-term liabilities | 5,394 | 5,116 |
Total liabilities | 9,448 | 8,810 |
Commitments and contingencies (Note 13) | ||
Shareholders' equity: | ||
Preferred shares, $0.01 par value per share, 50,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Ordinary shares, $0.01 par value per share, 1,200,000,000 shares authorized, 255,288,240 and 259,991,022 issued and outstanding as of December 31, 2019 and 2018, respectively | 3 | 3 |
Additional paid-in capital | 1,645 | 1,639 |
Retained earnings | 2,890 | 2,511 |
Accumulated other comprehensive loss (Note 16) | (719) | (694) |
Total Aptiv shareholders' equity | 3,819 | 3,459 |
Noncontrolling interest | 192 | 211 |
Total shareholders' equity | 4,011 | 3,670 |
Total liabilities and shareholders' equity | $ 13,459 | $ 12,480 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred shares, par value per share (USD per share) | $ 0.01 | $ 0.01 |
Preferred shares, authorized | 50,000,000 | 50,000,000 |
Preferred shares, issued | 0 | 0 |
Preferred shares, outstanding | 0 | 0 |
Ordinary Shares, Par or Stated Value Per Share (USD per share) | $ 0.01 | $ 0.01 |
Ordinary shares, authorized | 1,200,000,000 | 1,200,000,000 |
Common Stock, Shares, Issued | 255,288,240 | 259,991,022 |
Ordinary shares, outstanding | 255,288,240 | 259,991,022 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Cash flows from operating activities: | |||
Net income | $ 1,009 | $ 1,107 | $ 1,428 |
Income from discontinued operations, net of tax | 0 | 0 | 365 |
Income from continuing operations | 1,009 | 1,107 | 1,063 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 571 | 522 | 429 |
Amortization | 146 | 154 | 117 |
Amortization of deferred debt issuance costs | 6 | 7 | 7 |
Restructuring expense, net of cash paid | 29 | (26) | 2 |
Deferred income taxes | (33) | (14) | (26) |
Pension and other postretirement benefit expenses | 44 | 35 | 51 |
Income from equity method investments, net of dividends received | (6) | (11) | (18) |
Loss on extinguishment of debt | 6 | 0 | 0 |
(Gain) loss on sale of assets | (1) | (2) | (3) |
Share-based compensation | 66 | 58 | 62 |
Changes in operating assets and liabilities: | |||
Accounts receivable, net | (74) | 55 | (287) |
Inventories | 8 | (120) | (224) |
Other assets | (202) | (165) | (187) |
Accounts payable | 133 | 62 | 268 |
Accrued and other long-term liabilities | (9) | 73 | (72) |
Other, net | (31) | (47) | (36) |
Pension contributions | (38) | (48) | (40) |
Net cash provided by operating activities from continuing operations | 1,624 | 1,640 | 1,106 |
Net cash provided by operating activities from discontinued operations | 0 | (12) | 362 |
Net cash provided by operating activities | 1,624 | 1,628 | 1,468 |
Cash flows from investing activities: | |||
Capital expenditures | (781) | (846) | (698) |
Proceeds from sale of property / investments | 14 | 13 | 7 |
Cost of business acquisitions, net of cash acquired | (334) | (1,197) | (324) |
Cost of technology investments | (10) | (16) | (50) |
Settlement of derivatives | 0 | (2) | (28) |
Net cash used in investing activities from continuing operations | (1,111) | (2,048) | (1,093) |
Net cash used in investing activities from discontinued operations | 0 | 0 | (159) |
Net cash used in investing activities | (1,111) | (2,048) | (1,252) |
Cash flows from financing activities: | |||
Net repayments under other short-term debt agreements | 80 | 268 | (15) |
Repayment of senior notes | (654) | 0 | 0 |
Proceeds from issuance of senior notes, net of issuance costs | 641 | 0 | 796 |
Contingent consideration and deferred acquisition purchase price payments | 0 | (13) | (24) |
Dividend payments of consolidated affiliates to minority shareholders | (11) | (30) | (38) |
Repurchase of ordinary shares | (420) | (499) | (383) |
Distribution of cash dividends | (226) | (233) | (310) |
Dividend received from spin-off of Delphi Technologies | 0 | 0 | 1,148 |
Cash transferred to Delphi Technologies related to spin-off | 0 | 0 | (863) |
Cash transferred from Delphi Technologies related to spin-off | 0 | 0 | 180 |
Taxes withheld and paid on employees' restricted share awards | (34) | (35) | (33) |
Net cash used in financing activities | (649) | (555) | 456 |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | (3) | (54) | 86 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (139) | (1,029) | 758 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $ 429 | $ 568 | $ 1,597 |
Consolidated Statement Of Share
Consolidated Statement Of Shareholders' Equity - USD ($) $ in Millions | Total | Ordinary Shares | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Aptiv Shareholders' Equity | Noncontrolling Interest |
Balance at Dec. 31, 2016 | $ 2,763 | $ 3 | $ 1,633 | $ 1,980 | $ (1,215) | $ 2,401 | $ 362 |
Balance, shares at Dec. 31, 2016 | 270,000,000 | ||||||
Net income | 1,428 | 1,355 | 1,355 | 73 | |||
Other comprehensive loss | 341 | 331 | 331 | 10 | |||
Dividends on ordinary shares | (369) | 4 | (373) | (369) | |||
Dividend payments of consolidated affiliates to minority shareholders | (67) | (67) | |||||
Taxes withheld on employees' restricted share award vestings | $ (33) | (33) | (33) | ||||
Repurchase of ordinary shares, shares | (4,667,193) | (5,000,000) | |||||
Repurchase of ordinary shares | $ (383) | (25) | (358) | (383) | |||
Distribution of Delphi Technologies | (1,561) | (1,814) | (413) | (1,401) | (160) | ||
Dividend received from spin-off of Delphi Technologies | (1,148) | (1,148) | (1,148) | ||||
Cash transferred from Delphi Technologies related to spin-off | 180 | 180 | 180 | ||||
Share-based compensation, in shares | 1,000,000 | ||||||
Share-based compensation | 70 | 70 | 70 | ||||
Balance at Dec. 31, 2017 | 3,517 | $ 3 | 1,649 | 2,118 | (471) | 3,299 | 218 |
Balance, shares at Dec. 31, 2017 | 266,000,000 | ||||||
Net income | 1,107 | 1,067 | 1,067 | 40 | |||
Other comprehensive loss | (231) | (223) | (223) | (8) | |||
Dividends on ordinary shares | (174) | 2 | (176) | (174) | |||
Dividend payments of consolidated affiliates to minority shareholders | (39) | (39) | |||||
Taxes withheld on employees' restricted share award vestings | $ (35) | (35) | (35) | ||||
Repurchase of ordinary shares, shares | (6,530,369) | (7,000,000) | |||||
Repurchase of ordinary shares | $ (499) | (35) | (464) | (499) | |||
Distribution of Delphi Technologies | (25) | (25) | 0 | (25) | 0 | ||
Dividend received from spin-off of Delphi Technologies | 0 | ||||||
Cash transferred from Delphi Technologies related to spin-off | 0 | ||||||
Share-based compensation, in shares | 1,000,000 | ||||||
Share-based compensation | 58 | 58 | 58 | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (9) | (9) | 0 | (9) | |||
Balance at Dec. 31, 2018 | 3,670 | $ 3 | 1,639 | 2,511 | (694) | 3,459 | 211 |
Balance, shares at Dec. 31, 2018 | 260,000,000 | ||||||
Net income | 1,009 | 990 | 990 | 19 | |||
Other comprehensive loss | (19) | (16) | (16) | (3) | |||
Dividends on ordinary shares | (226) | 3 | (229) | (226) | |||
Dividend payments of consolidated affiliates to minority shareholders | (35) | (35) | |||||
Taxes withheld on employees' restricted share award vestings | $ (34) | (34) | (34) | ||||
Repurchase of ordinary shares, shares | (5,387,533) | (5,000,000) | |||||
Repurchase of ordinary shares | $ (420) | (29) | (391) | (420) | |||
Dividend received from spin-off of Delphi Technologies | 0 | ||||||
Cash transferred from Delphi Technologies related to spin-off | 0 | ||||||
Share-based compensation, in shares | 0 | ||||||
Share-based compensation | 66 | 66 | 66 | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 0 | 9 | (9) | 0 | |||
Balance at Dec. 31, 2019 | $ 4,011 | $ 3 | $ 1,645 | $ 2,890 | $ (719) | $ 3,819 | $ 192 |
Balance, shares at Dec. 31, 2019 | 255,000,000 |
General
General | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General | GENERAL General and basis of presentation —“Aptiv,” the “Company,” “we,” “us” and “our” refer to Aptiv PLC, a public limited company formed under the laws of Jersey on May 19, 2011 as Delphi Automotive PLC, which, through its subsidiaries, acquired certain assets of the former Delphi Corporation (now known as DPH Holdings Corp. (“DPHH”)) and completed an initial public offering on November 22, 2011 . On December 4, 2017 (the “Distribution Date”), the Company completed the separation (the “Separation”) of its former Powertrain Systems segment by distributing to Aptiv shareholders on a pro rata basis all of the issued and outstanding ordinary shares of Delphi Technologies PLC (“Delphi Technologies”), a public limited company formed to hold the spun-off business. To effect the Separation, the Company distributed to its shareholders one ordinary share of Delphi Technologies for every three Aptiv ordinary shares outstanding as of November 22, 2017 , the record date for the distribution. Following the Separation, the remaining company changed its name to Aptiv PLC and New York Stock Exchange (“NYSE”) symbol to “APTV.” Delphi Technologies’ historical financial results through the Distribution Date are reflected in the Company’s consolidated financial statements as a discontinued operation, as more fully described in Note 25. Discontinued Operations and Held For Sale. In April 2018, primarily as a result of the impact of the Separation on the Company’s U.K. presence and the centralization of the Company’s non-manufacturing European footprint, along with the long-term stability of the financial and regulatory environment in Ireland and continued uncertainties with regards to the impending exit of the U.K. from the European Union, Aptiv PLC changed its tax residence from the U.K. to Ireland. Aptiv PLC remains a public limited company incorporated under the laws of Jersey, and continues to be subject to U.S. Securities and Exchange Commission reporting requirements and prepare its consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Nature of operations —Aptiv is a leading global technology and mobility company primarily serving the automotive sector. We design and manufacture vehicle components and provide electrical, electronic and active safety technology solutions to the global automotive and commercial vehicle markets. Aptiv is one of the largest vehicle component manufacturers, and its customers include 23 of the 25 largest automotive original equipment manufacturers (“OEMs”) in the world. Aptiv operates 126 major manufacturing facilities and 15 major technical centers utilizing a regional service model that enables the Company to efficiently and effectively serve its global customers from best cost countries. Aptiv has a presence in 44 countries and has approximately 20,200 scientists, engineers and technicians focused on developing market relevant product solutions for its customers. In line with the long-term growth in emerging markets, Aptiv has been increasing its focus on these markets, particularly in China, where the Company has a major manufacturing base and strong customer relationships. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES Consolidation —The consolidated financial statements include the accounts of Aptiv and U.S. and non-U.S. subsidiaries in which Aptiv holds a controlling financial or management interest and variable interest entities of which Aptiv has determined that it is the primary beneficiary. Aptiv’s share of the earnings or losses of non-controlled affiliates, over which Aptiv exercises significant influence (generally a 20% to 50% ownership interest), is included in the consolidated operating results using the equity method of accounting. When Aptiv does not have the ability to exercise significant influence (generally when ownership interest is less than 20%), investments in non-consolidated affiliates without readily determinable fair values are measured at cost, less impairments, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. All significant intercompany transactions and balances between consolidated Aptiv businesses have been eliminated. The Company monitors its investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis. If the Company determines that such a decline has occurred, an impairment loss is recorded, which is measured as the difference between carrying value and estimated fair value. Estimated fair value is generally determined using an income approach based on discounted cash flows or negotiated transaction values. During the years ended December 31, 2019 , 2018 and 2017 , Aptiv received dividends of $9 million , $12 million and $15 million , respectively, from its equity method investments. The dividends were recognized as a reduction to the investment and represented a return on investment included in cash flows from operating activities from continuing operations. Investments in non-consolidated affiliates totaled $101 million and $72 million as of December 31, 2019 and 2018 , respectively, and are classified within other long-term assets in the consolidated balance sheets. Refer to Note 5. Investments in Affiliates for further information. Use of estimates —Preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect amounts reported therein. Generally, matters subject to estimation and judgment include amounts related to accounts receivable realization, inventory obsolescence, asset impairments, useful lives of intangible and fixed assets, deferred tax asset valuation allowances, income taxes, pension benefit plan assumptions, accruals related to litigation, warranty costs, environmental remediation costs, contingent consideration arrangements, worker’s compensation accruals and healthcare accruals. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from those estimates. Revenue recognition —Revenue is measured based on consideration specified in a contract with a customer. Customer contracts generally are represented by a combination of a current purchase order and a current production schedule issued by the customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. From time to time, Aptiv enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost saving targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. In addition, from time to time, Aptiv makes payments to customers in conjunction with ongoing business. These payments to customers are generally recognized as a reduction to revenue at the time of the commitment to make these payments. However, certain other payments to customers, or upfront fees, meet the criteria to be considered a cost to obtain a contract as they are directly attributable to a contract, are incremental and management expects the fees to be recoverable. Aptiv collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with a revenue-producing transaction between the Company and the Company’s customers. These taxes may include, but are not limited to, sales, use, value-added, and some excise taxes. Aptiv reports the collection of these taxes on a net basis (excluded from revenues). Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales. Refer to Note 26. Revenue for further information. Net income per share —Basic net income per share is computed by dividing net income attributable to Aptiv by the weighted–average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Aptiv by the diluted weighted-average number of ordinary shares outstanding during the period. Unless otherwise noted, share and per share amounts included in these notes are on a diluted basis. Refer to Note 15. Shareholders’ Equity and Net Income Per Share for additional information including the calculation of basic and diluted net income per share. Research and development —Costs are incurred in connection with research and development programs that are expected to contribute to future earnings. Such costs are charged against income as incurred. Total research and development expenses, including engineering, net of customer reimbursements, were approximately $1,165 million , $1,155 million and $882 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Cash and cash equivalents —Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of three months or less. Restricted cash —Restricted cash includes balances on deposit at financial institutions that have issued letters of credit in favor of Aptiv and cash deposited into an escrow account. Refer to Note 18. Fair Value of Financial Instruments for further information regarding amounts deposited into an escrow account. Accounts receivable —Aptiv enters into agreements to sell certain of its accounts receivable, primarily in Europe. Sales of receivables are accounted for in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 860, Transfers and Servicing (“ASC 860”). Agreements which result in true sales of the transferred receivables, as defined in ASC 860, which occur when receivables are transferred without recourse to the Company, are excluded from amounts reported in the consolidated balance sheets. Cash proceeds received from such sales are included in operating cash flows. Agreements that allow Aptiv to maintain effective control over the transferred receivables and which do not qualify as a sale, as defined in ASC 860, are accounted for as secured borrowings and recorded in the consolidated balance sheets within accounts receivable, net and short-term debt. The expenses associated with receivables factoring are recorded in the consolidated statements of operations within interest expense. The Company exchanges certain amounts of accounts receivable, primarily in the Asia Pacific region, for bank notes with original maturities greater than three months. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. Bank notes held by the Company with original maturities of three months or less are classified as cash and cash equivalents within the consolidated balance sheets, and those with original maturities of greater than three months are classified as notes receivable within other current assets. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third-party financial institutions in exchange for cash. The allowance for doubtful accounts is established based upon analysis of trade receivables for known collectability issues, the aging of the trade receivables at the end of each period and, generally, all accounts receivable balances greater than 90 days past due are fully reserved. As of December 31, 2019 and 2018 , the allowance for doubtful accounts was $37 million and $38 million , respectively, and the provision for doubtful accounts was $9 million , $9 million , and $23 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Inventories —As of December 31, 2019 and 2018 , inventories are stated at the lower of cost, determined on a first-in, first-out basis, or net realizable value, including direct material costs and direct and indirect manufacturing costs. Refer to Note 3. Inventories for additional information. Obsolete inventory is identified based on analysis of inventory for known obsolescence issues, and, generally, the market value of inventory on hand in excess of one year’s supply is fully-reserved. From time to time, payments may be received from suppliers. These payments from suppliers are recognized as a reduction of the cost of the material acquired during the period to which the payments relate. In some instances, supplier rebates are received in conjunction with or concurrent with the negotiation of future purchase agreements and these amounts are amortized over the prospective agreement period. Property —Major improvements that materially extend the useful life of property are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is determined based on a straight-line method over the estimated useful lives of groups of property. Leasehold improvements under finance leases are depreciated over the period of the lease or the life of the property, whichever is shorter. Refer to Note 6. Property, Net and Note 27. Leases for additional information. Pre-production costs related to long-term supply agreements —The Company incurs pre-production engineering, development and tooling costs related to products produced for its customers under long-term supply agreements. Engineering, testing and other costs incurred in the design and development of production parts are expensed as incurred, unless the costs are reimbursable, as specified in a customer contract. As of December 31, 2019 and 2018 , $318 million and $184 million of such contractually reimbursable costs were capitalized, respectively. These amounts are recorded within other current and other long-term assets in the consolidated balance sheets, as further detailed in Note 4. Assets. Special tools represent Aptiv-owned tools, dies, jigs and other items used in the manufacture of customer components that will be sold under long-term supply arrangements, the costs of which are capitalized within property, plant and equipment if the Company has title to the assets. Special tools also include capitalized unreimbursed pre-production tooling costs related to customer-owned tools for which the customer has provided Aptiv a non-cancellable right to use the tool. Aptiv-owned special tools balances are depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. The unreimbursed costs incurred related to customer-owned special tools that are not subject to reimbursement are capitalized and depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. At December 31, 2019 and 2018 , the special tools balance, net of accumulated depreciation, was $485 million and $461 million , respectively, included within property, net in the consolidated balance sheets. As of December 31, 2019 and 2018 , the Aptiv-owned special tools balances were $365 million and $352 million , respectively, and the customer-owned special tools balances were $120 million and $109 million , respectively. Valuation of long-lived assets —The carrying value of long-lived assets held for use, including definite-lived intangible assets, is periodically evaluated when events or circumstances warrant such a review. The carrying value of a long-lived asset held for use is considered impaired when the anticipated separately identifiable undiscounted cash flows from the asset are less than the carrying value of the asset. In that event, a loss is recognized based on the amount by which the carrying value exceeds the estimated fair value of the long-lived asset. Impairment losses on long-lived assets held for sale are recognized if the carrying value of the asset is in excess of the asset’s estimated fair value, reduced for the cost to dispose of the asset. Fair value of long-lived assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved (an income approach), and in certain situations Aptiv’s review of appraisals (a market approach). Refer to Note 6. Property, Net and Note 7. Intangible Assets and Goodwill for additional information. Assets and liabilities held for sale —The Company considers assets to be held for sale when management approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer and other actions required to complete the sale have been initiated, the sale of the assets is probable and expected to be completed within one year (or, if it is expected that others will impose conditions on the sale of the assets that will extend the period required to complete the sale, that a firm purchase commitment is probable within one year) and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, the Company records the assets at the lower of their carrying value or their estimated fair value, less cost to sell, and ceases to record depreciation expense on the assets. Assets and liabilities of a discontinued operation are reclassified as held for sale for all comparative periods presented in the consolidated balance sheets. For assets that meet the held for sale criteria but do not meet the definition of a discontinued operation, the Company reclassifies the assets and liabilities in the period in which the held for sale criteria are met, but does not reclassify prior period amounts. Refer to Note 25. Discontinued Operations and Held For Sale for further information regarding the Company's assets and liabilities held for sale. Intangible assets —The Company amortizes definite-lived intangible assets over their estimated useful lives. The Company has definite-lived intangible assets related to patents and developed technology, customer relationships and trade names. Indefinite-lived in-process research and development intangible assets are not amortized, but are tested for impairment annually, or more frequently when indicators of potential impairment exist, until the completion or abandonment of the associated research and development efforts. Upon completion of the projects, the assets will be amortized over the expected economic life of the asset, which will be determined on that date. Should the project be determined to be abandoned, and if the asset developed has no alternative use, the full value of the asset will be charged to expense. The Company also has intangible assets related to acquired trade names that are classified as indefinite-lived when there are no foreseeable limits on the periods of time over which they are expected to contribute cash flows. These indefinite-lived trade name assets are tested for impairment annually, or more frequently when indicators of potential impairment exist. Costs to renew or extend the term of acquired intangible assets are recognized as expense as incurred. The Company recorded intangible asset impairment charges of $8 million and $30 million , respectively, during the years ended December 31, 2019 and 2018 . No intangible asset impairment charges were recorded in 2017 . Refer to Note 7. Intangible Assets and Goodwill for additional information. Goodwill —Goodwill is the excess of the purchase price over the estimated fair value of identifiable net assets acquired in business combinations. The Company tests goodwill for impairment annually in the fourth quarter, or more frequently when indications of potential impairment exist. The Company monitors the existence of potential impairment indicators throughout the fiscal year. The Company tests for goodwill impairment at the reporting unit level. Our reporting units are the components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. The impairment test involves first qualitatively assessing goodwill for impairment. If the qualitative assessment is not met the Company then performs a quantitative assessment by first comparing the estimated fair value of each reporting unit to its carrying value, including goodwill. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the estimated fair value exceeds carrying value, then we conclude that no goodwill impairment has occurred. If the carrying value of the reporting unit exceeds its estimated fair value, a second step is required to measure possible goodwill impairment loss. The second step includes hypothetically valuing the tangible and intangible assets and liabilities of the reporting unit as if the reporting unit had been acquired in a business combination. Then, the implied fair value of the reporting unit’s goodwill is compared to the carrying value of that goodwill. If the carrying value of the reporting unit’s goodwill exceeds the implied fair value of the goodwill, the Company recognizes an impairment loss in an amount equal to the excess, not to exceed the carrying value. Refer to Note 20. Acquisitions and Divestitures, for further information on the goodwill attributable to the Company’s acquisitions. Goodwill impairment —In the fourth quarter of 2019 , 2018 and 2017 , the Company completed a qualitative goodwill impairment assessment, and after evaluating the results, events and circumstances of the Company, the Company concluded that sufficient evidence existed to assert qualitatively that it was more likely than not that the estimated fair value of each reporting unit remained in excess of its carrying values. Therefore, a two-step impairment assessment was not necessary. No goodwill impairments were recorded in 2019 , 2018 or 2017 . Refer to Note 7. Intangible Assets and Goodwill for additional information. Discontinued operations —The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. Discontinued operations reporting occurs only when the disposal of a component or a group of components of the Company represents a strategic shift that will have a major effect on the Company’s operations and financial results. During the year ended December 31, 2017, the Company completed the Separation of its former Powertrain Systems segment by means of a spin-off into Delphi Technologies PLC. Accordingly, the assets and liabilities, operating results and operating and investing cash flows for the previously reported Powertrain Systems segment are presented as discontinued operations separate from the Company’s continuing operations and segment results for all periods presented in these consolidated financial statements and the notes to the consolidated financial statements, unless otherwise noted. Refer to Note 25. Discontinued Operations and Held For Sale for further information regarding the Company’s discontinued operations. Warranty and product recalls —Expected warranty costs for products sold are recognized at the time of sale of the product based on an estimate of the amount that eventually will be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. Costs of product recalls, which may include the cost of the product being replaced as well as the customer’s cost of the recall, including labor to remove and replace the recalled part, are accrued as part of our warranty accrual at the time an obligation becomes probable and can be reasonably estimated. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims. Refer to Note 9. Warranty Obligations for additional information. Income taxes —Deferred tax assets and liabilities reflect temporary differences between the amount of assets and liabilities for financial and tax reporting purposes. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. In the event the Company determines it is more likely than not that the deferred tax assets will not be realized in the future, the valuation allowance adjustment to the deferred tax assets will be charged to earnings in the period in which the Company makes such a determination. In determining whether an uncertain tax position exists, the Company determines, based solely on its technical merits, whether the tax position is more likely than not to be sustained upon examination, and if so, a tax benefit is measured on a cumulative probability basis that is more likely than not to be realized upon the ultimate settlement. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities. Refer to Note. 14. Income Taxes for additional information. Foreign currency translation —Assets and liabilities of non-U.S. subsidiaries that use a currency other than U.S. dollars as their functional currency are translated to U.S. dollars at end-of-period currency exchange rates. The consolidated statements of operations of non-U.S. subsidiaries are translated to U.S. dollars at average-period currency exchange rates. The effect of translation for non-U.S. subsidiaries is generally reported in other comprehensive income (“OCI”). The effect of remeasurement of assets and liabilities of non-U.S. subsidiaries that use the U.S. dollar as their functional currency is primarily included in cost of sales. Also included in cost of sales are gains and losses arising from transactions denominated in a currency other than the functional currency of a particular entity. Net foreign currency transaction losses of $3 million , gains of $8 million and losses of $13 million were included in the consolidated statements of operations for the years ended December 31, 2019 , 2018 and 2017 , respectively. The accumulated foreign currency translation adjustment related to an investment in a foreign subsidiary is reclassified to net income upon sale or upon complete or substantially complete liquidation of the respective entity. Restructuring —Aptiv continually evaluates alternatives to align the business with the changing needs of its customers and to lower operating costs. This includes the realignment of its existing manufacturing capacity, facility closures, or similar actions, either in the normal course of business or pursuant to significant restructuring programs. These actions may result in employees receiving voluntary or involuntary employee termination benefits, which are mainly pursuant to union or other contractual agreements or statutory requirements. Voluntary termination benefits are accrued when an employee accepts the related offer. Involuntary termination benefits are accrued upon the commitment to a termination plan and when the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable, depending on the existence of a substantive plan for severance or termination. Contract termination costs are recorded when contracts are terminated or when Aptiv ceases to use the leased facility and no longer derives economic benefit from the contract. All other exit costs are expensed as incurred. Refer to Note 10. Restructuring for additional information. Environmental liabilities —Environmental remediation liabilities are recognized when a loss is probable and can be reasonably estimated. Such liabilities generally are not subject to insurance coverage. The cost of each environmental remediation is estimated by engineering, financial, and legal specialists based on current law and considers the estimated cost of investigation and remediation required and the likelihood that, where applicable, other responsible parties will be able to fulfill their commitments. The process of estimating environmental remediation liabilities is complex and dependent primarily on the nature and extent of historical information and physical data relating to a contaminated site, the complexity of the site, the uncertainty as to what remediation and technology will be required, and the outcome of discussions with regulatory agencies and, if applicable, other responsible parties at multi-party sites. In future periods, new laws or regulations, advances in remediation technologies and additional information about the ultimate remediation methodology to be used could significantly change estimates by Aptiv. Refer to Note 13. Commitments and Contingencies for additional information. Asset retirement obligations —Asset retirement obligations are recognized in accordance with FASB ASC 410, Asset Retirement and Environmental Obligations . Conditional retirement obligations have been identified primarily related to asbestos abatement at certain sites. To a lesser extent, conditional retirement obligations also exist at certain sites related to the removal of storage tanks and disposal costs. Asset retirement obligations were $1 million and $1 million at December 31, 2019 and 2018 , respectively. Customer concentrations —As reflected in the table below, net sales to GM, VW and FCA, Aptiv’s three largest customers, totaled approximately 27% , 29% and 29% of our total net sales for the years ended December 31, 2019 , 2018 and 2017 , respectively. Percentage of Total Net Sales Accounts and Other Receivables Year Ended December 31, December 31, December 31, 2019 2018 2017 (in millions) GM (1) 9 % 11 % 13 % $ 205 $ 169 VW 9 % 9 % 9 % 135 149 FCA 9 % 9 % 7 % 207 175 (1) Net sales to GM includes net sales to GM’s former European Opel business prior to its sale to PSA on August 1, 2017, after which date these sales are excluded from net sales to GM. Derivative financial instruments —All derivative instruments are required to be reported on the balance sheet at fair value unless the transactions qualify and are designated as normal purchases or sales. Changes in fair value are reported currently through earnings unless they meet hedge accounting criteria. Exposure to fluctuations in currency exchange rates, interest rates and certain commodity prices are managed by entering into a variety of forward and option contracts and swaps with various counterparties. Such financial exposures are managed in accordance with the policies and procedures of Aptiv. Aptiv does not enter into derivative transactions for speculative or trading purposes. As part of the hedging program approval process, Aptiv identifies the specific financial risk which the derivative transaction will minimize, the appropriate hedging instrument to be used to reduce the risk and the correlation between the financial risk and the hedging instrument. Purchase orders, sales contracts, letters of intent, capital planning forecasts and historical data are used as the basis for determining the anticipated values of the transactions to be hedged. Aptiv does not enter into derivative transactions that do not have a high correlation with the underlying financial risk. Hedge positions, as well as the correlation between the transaction risks and the hedging instruments, are reviewed on an ongoing basis. Foreign exchange forward contracts are accounted for as hedges of firm or forecasted foreign currency commitments or foreign currency exposure of the net investment in certain foreign operations to the extent they are designated and assessed as highly effective. All foreign exchange contracts are marked to market on a current basis. Commodity swaps are accounted for as hedges of firm or anticipated commodity purchase contracts to the extent they are designated and assessed as effective. All other commodity derivative contracts that are not designated as hedges are either marked to market on a current basis or are exempted from mark to market accounting as normal purchases. At December 31, 2019 and 2018 , the Company’s exposure to movements in interest rates was not hedged with derivative instruments. Refer to Note 17. Derivatives and Hedging Activities and Note 18. Fair Value of Financial Instruments for additional information. Extended disability benefits —Costs associated with extended disability benefits provided to inactive employees are accrued throughout the duration of their active employment. Workforce demographic data and historical experience are utilized to develop projections of time frames and related expense for post-employment benefits. Workers’ compensation benefits —Workers’ compensation benefit accruals are actuarially determined and are subject to the existing workers’ compensation laws that vary by location. Accruals for workers’ compensation benefits represent the discounted future cash expenditures expected during the period between the incidents necessitating the employees to be idled and the time when such employees return to work, are eligible for retirement or otherwise terminate their employment. Share-based compensation —The Company’s share-based compensation arrangements consist of the Aptiv PLC Long Term Incentive Plan, as amended and restated effective April 23, 2015 (the “PLC LTIP”), under which grants of restricted stock units (“RSUs”) have been made in each period from 2012 to 2019 . The RSU awards include a time-based vesting portion and a performance-based vesting portion. The performance-based vesting portion includes performance and market conditions in addition to service conditions. The grant date fair value of the RSUs is determined based on the closing price of the Company’s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, or a contemporaneous valuation performed by an independent valuation specialist with respect to awards with market conditions. Compensation expense is recognized based upon the grant date fair value of the awards applied to the Company’s best estimate of ultimate performance against the respective targets on a straight-line basis over the requisite vesting period of the awards. The performance conditions require management to make assumptions regarding the likelihood of achieving certain performance goals. Changes in these performance assumptions, as well as differences in actual results from management’s estimates, could result in estimated or actual values different from previously estimated fair values. Refer to Note 21. Share-Based Compensation for additional information. Business combinations —The Company accounts for its business combinations in accordance with the accounting guidance in FASB ASC 805, Business Combinations . The purchase price of an acquired business is allocated to its identifiable assets and liabilities based on estimated fair values. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. Determining the fair values of assets acquired and liabilities assumed requires management’s judgment, the utilization of independent a |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories | INVENTORIES Inventories are stated at the lower of cost, determined on a first-in, first-out basis, or net realizable value, including direct material costs and direct and indirect manufacturing costs. A summary of inventories is shown below: December 31, December 31, (in millions) Productive material $ 706 $ 724 Work-in-process 102 101 Finished goods 478 452 Total $ 1,286 $ 1,277 |
Assets
Assets | 12 Months Ended |
Dec. 31, 2019 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Assets | ASSETS Other current assets consisted of the following: December 31, December 31, (in millions) Value added tax receivable $ 205 $ 185 Prepaid insurance and other expenses 88 72 Reimbursable engineering costs 101 47 Notes receivable 10 43 Income and other taxes receivable 45 73 Deposits to vendors 4 4 Derivative financial instruments (Note 17) 30 6 Capitalized upfront fees (Note 26) 20 8 Other 1 7 Total $ 504 $ 445 Other long-term assets consisted of the following: December 31, December 31, (in millions) Deferred income taxes, net (Note 14) $ 164 $ 143 Unamortized Revolving Credit Facility debt issuance costs (Note 11) 3 6 Income and other taxes receivable 45 6 Reimbursable engineering costs 217 137 Value added tax receivable 59 38 Equity investments (Note 5) 101 72 Derivative financial instruments (Note 17) 8 2 Capitalized upfront fees (Note 26) 79 64 Other 43 53 Total $ 719 $ 521 |
Investments in Affiliates
Investments in Affiliates | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in Affiliates | INVESTMENTS IN AFFILIATES As part of Aptiv’s continuing operations, it has investments in three non-consolidated affiliates accounted for under the equity method of accounting. These affiliates are not publicly traded companies and are located primarily in Asia Pacific and North America. Aptiv’s ownership percentages vary generally from approximately 20% to 50% , with the most significant investment in Promotora de Partes Electricas Automotrices, S.A. de C.V. (of which Aptiv owns approximately 40% ). The Company’s aggregate investments in affiliates was $106 million and $99 million at December 31, 2019 and 2018 , respectively. Dividends of $9 million , $12 million and $15 million for the years ended December 31, 2019 , 2018 and 2017 , respectively, have been received from these non-consolidated affiliates. No impairment charges were recorded for the years ended December 31, 2019 , 2018 and 2017 . The following is a summary of the combined financial information of significant affiliates accounted for under the equity method for continuing operations as of December 31, 2019 and 2018 and for the years ended December 31, 2019 , 2018 and 2017 (unaudited): December 31, 2019 2018 (in millions) Current assets $ 231 $ 222 Non-current assets 126 124 Total assets $ 357 $ 346 Current liabilities $ 92 $ 99 Non-current liabilities 10 7 Shareholders’ equity 255 240 Total liabilities and shareholders’ equity $ 357 $ 346 Year Ended December 31, 2019 2018 2017 (in millions) Net sales $ 531 $ 533 $ 570 Gross profit 59 84 111 Net income 35 53 66 A summary of transactions with affiliates is shown below: Year Ended December 31, 2019 2018 2017 (in millions) Sales to affiliates $ 6 $ 7 $ 8 Purchases from affiliates 37 38 19 Technology Investments The Company has made technology investments in certain non-consolidated affiliates for ownership interests of less than 20%, as described in Note 2. Significant Accounting Policies. These investments do not have readily determinable fair values and are measured at cost, less impairments, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. During the fourth quarter of 2019, the Company’s Advanced Safety and User Experience segment made a $6 million investment in Krono-Safe, SAS, a leading software developer of safety-critical real-time embedded systems. During the first quarter of 2019, the Company’s Advanced Safety and User Experience segment made an additional $3 million investment in Otonomo Technologies Ltd. (“Otonomo”), a connected car data marketplace developer. This investment was in addition to the Company’s $15 million investment made in the first quarter of 2017. During the fourth quarter of 2018, the Company’s Advanced Safety and User Experience segment made a $15 million investment in Affectiva, Inc., a leader in human perception artificial intelligence technology. During the third quarter of 2017, the Company’s Advanced Safety and User Experience segment made investments in two leading developers of LiDAR technology; a $15 million investment in Innoviz Technologies and a $10 million investment in LeddarTech, Inc. During the second quarter of 2017, the Company’s Signal and Power Solutions segment made a $10 million investment in Valens Semiconductor Ltd., a leading provider of signal processing technology for high frequency data transmission of connected car content. As of December 31, 2019 , the Company had the following technology investments, which are classified within other long-term assets in the consolidated balance sheets: Investment Name Segment Investment Date Investment (in millions) Krono-Safe, SAS Advanced Safety and User Experience Q4 2019 $ 6 Affectiva, Inc. Advanced Safety and User Experience Q4 2018 15 Innoviz Technologies Advanced Safety and User Experience Q3 2017 15 LeddarTech, Inc. Advanced Safety and User Experience Q3 2017 10 Valens Semiconductor Ltd. Signal and Power Solutions Q2 2017 10 Otonomo Technologies Ltd. Advanced Safety and User Experience Q1 2017; Q1 2019 37 Quanergy Systems, Inc Advanced Safety and User Experience Q2 2015; Q1 2016 6 Other investments Advanced Safety and User Experience Q4 2018; Q3 2019 2 $ 101 During the year ended December 31, 2019 , the Company’s investment in Otonomo was remeasured to a fair value of $37 million , based on a subsequent round of financing observed to be for identical or similar investments of the same issuer. As a result, the Company recorded a pre-tax unrealized gain of $19 million to other income, net during the year ended December 31, 2019 . There were no other material transactions, events or changes in circumstances requiring an impairment or an observable price change adjustment to these investments. The Company continues to monitor these investments to identify potential transactions which may indicate an impairment or an observable price change requiring an adjustment to its carrying value. |
Property, Net
Property, Net | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant and Equipment Disclosure | PROPERTY, NET Property, net consisted of: Estimated Useful Lives December 31, 2019 2018 (Years) (in millions) Land — $ 81 $ 78 Land and leasehold improvements 3-20 163 170 Buildings 40 646 582 Machinery, equipment and tooling 3-20 4,057 3,594 Furniture and office equipment 3-10 648 562 Construction in progress — 322 357 Total 5,917 5,343 Less: accumulated depreciation (2,608 ) (2,164 ) Total property, net $ 3,309 $ 3,179 For the years ended December 31, 2019 , 2018 and 2017 , Aptiv recorded non-cash asset impairment charges of $3 million , $4 million and $9 million , respectively, in cost of sales related to declines in the fair values of certain fixed assets. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure | INTANGIBLE ASSETS AND GOODWILL The changes in the carrying amount of intangible assets and goodwill were as follows as of December 31, 2019 and 2018 . See Note 20. Acquisitions and Divestitures for a further description of the goodwill and intangible assets resulting from Aptiv’s acquisitions in 2019 and 2018 . As of December 31, 2019 As of December 31, 2018 Estimated Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (Years) (in millions) (in millions) Amortized intangible assets: Patents and developed technology 3-15 $ 656 $ 415 $ 241 $ 647 $ 371 $ 276 Customer relationships 5-14 1,130 375 755 1,046 261 785 Trade names 15-20 73 44 29 66 35 31 Total 1,859 834 1,025 1,759 667 1,092 Unamortized intangible assets: In-process research and development — — — — 126 — 126 Trade names — 161 — 161 162 — 162 Goodwill — 2,407 — 2,407 2,524 — 2,524 Total $ 4,427 $ 834 $ 3,593 $ 4,571 $ 667 $ 3,904 Estimated amortization expense for the years ending December 31, 2020 through 2024 is presented below: Year Ending December 31, 2020 2021 2022 2023 2024 (in millions) Estimated amortization expense $ 145 $ 145 $ 141 $ 118 $ 104 A roll-forward of the gross carrying amounts of intangible assets for the years ended December 31, 2019 and 2018 is presented below. 2019 2018 (in millions) Balance at January 1 $ 4,571 $ 3,731 Acquisitions (1) 316 1,000 Impairment (2) — (20 ) Reclassified as held for sale (445 ) — Foreign currency translation and other (15 ) (140 ) Balance at December 31 $ 4,427 $ 4,571 (1) Primarily attributable to the 2019 acquisitions of gabocom and Falmat, and the 2018 acquisitions of KUM and Winchester, as further described in Note 20. Acquisitions and Divestitures. (2) Primarily attributable to the impairment of certain indefinite-lived in-process research and development assets within the Advanced Safety and User Experience segment during the year ended December 31, 2018 , which is included within amortization in the consolidated statements of operations. The fair value of the impaired assets was determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of other market indicators and management estimates. A roll-forward of the accumulated amortization for the years ended December 31, 2019 and 2018 is presented below: 2019 2018 (in millions) Balance at January 1 $ 667 $ 568 Amortization 138 124 Impairment (1) 8 10 Reclassified as held for sale (1 ) — Foreign currency translation and other 22 (35 ) Balance at December 31 $ 834 $ 667 (1) Primarily attributable to the impairment of certain definite-lived trade name assets within the Advanced Safety and User Experience segment during the years ended December 31, 2019 and 2018 , which is included within amortization in the consolidated statements of operations. The fair value of the impaired assets was determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of other market indicators and management estimates. A roll-forward of the carrying amount of goodwill, by operating segment, for the years ended December 31, 2019 and 2018 is presented below: Signal and Power Solutions Advanced Safety and User Experience Total (in millions) Balance at January 1, 2018 $ 1,594 $ 350 $ 1,944 Acquisitions (1) 657 — 657 Foreign currency translation and other (71 ) (6 ) (77 ) Balance at December 31, 2018 $ 2,180 $ 344 $ 2,524 Acquisitions (2) $ 229 $ — $ 229 Reclassified as held for sale — (318 ) (318 ) Foreign currency translation and other (28 ) — (28 ) Balance at December 31, 2019 $ 2,381 $ 26 $ 2,407 (1) Primarily attributable to the acquisitions of KUM and Winchester, as further described in Note 20. Acquisitions and Divestitures. (2) Primarily attributable to the acquisitions of gabocom and Falmat, as further described in Note 20. Acquisitions and Divestitures. |
Liabilities
Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Other Liabilities Disclosure [Abstract] | |
Liabilities | LIABILITIES Accrued liabilities consisted of the following: December 31, December 31, (in millions) Payroll-related obligations $ 226 $ 235 Employee benefits, including current pension obligations 97 96 Income and other taxes payable 180 187 Warranty obligations (Note 9) 29 33 Restructuring (Note 10) 86 55 Customer deposits 43 36 Derivative financial instruments (Note 17) 4 19 Accrued interest 47 42 Deferred compensation related to nuTonomy acquisition (Note 20) 35 31 Operating lease liabilities (Note 27) 94 — Other 314 320 Total $ 1,155 $ 1,054 Other long-term liabilities consisted of the following: December 31, December 31, (in millions) Environmental (Note 13) $ 3 $ 3 Extended disability benefits 6 5 Warranty obligations (Note 9) 8 17 Restructuring (Note 10) 48 49 Payroll-related obligations 10 10 Accrued income taxes 199 201 Deferred income taxes, net (Note 14) 229 233 Derivative financial instruments (Note 17) — 9 Deferred compensation related to nuTonomy acquisition (Note 20) — 18 Other 108 88 Total $ 611 $ 633 |
Warranty Obligations
Warranty Obligations | 12 Months Ended |
Dec. 31, 2019 | |
Product Warranties Disclosures [Abstract] | |
Warranty Obligations | WARRANTY OBLIGATIONS Expected warranty costs for products sold are recognized principally at the time of sale of the product based on an estimate of the amount that will eventually be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. The estimated costs related to product recalls based on a formal campaign soliciting return of that product are accrued at the time an obligation becomes probable and can be reasonably estimated. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims. Aptiv has recognized its best estimate for its total aggregate warranty reserves, including product recall costs, across all of its operating segments as of December 31, 2019 . The Company estimates the reasonably possible amount to ultimately resolve all matters in excess of the recorded reserves as of December 31, 2019 to be zero to $10 million . The table below summarizes the activity in the product warranty liability for the years ended December 31, 2019 and 2018 : Year Ended December 31, 2019 2018 (in millions) Accrual balance at beginning of year $ 50 $ 58 Provision for estimated warranties incurred during the year 39 39 Changes in estimate for pre-existing warranties — 5 Settlements made during the year (in cash or in kind) (52 ) (51 ) Foreign currency translation and other — (1 ) Accrual balance at end of year $ 37 $ 50 |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring | RESTRUCTURING Aptiv’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing Aptiv’s strategy, either in the normal course of business or pursuant to significant restructuring programs. As part of Aptiv’s continued efforts to optimize its cost structure, it has undertaken several restructuring programs which include workforce reductions as well as plant closures. These programs are primarily focused on the continued rotation of our manufacturing footprint to best cost locations in Europe and on reducing global overhead costs, including programs implemented to realign the Company’s organizational structure due to changes in roles and workforce as a result of the spin-off of the former Powertrain Systems segment. The Company recorded employee-related and other restructuring charges related to these programs totaling approximately $148 million during the year ended December 31, 2019 , of which $74 million was recognized for programs implemented in the European region, pursuant to the Company’s ongoing overhead cost reduction strategy. None of the Company’s individual restructuring programs initiated during 2019 were material and there have been no changes in previously initiated programs that have resulted (or are expected to result) in a material change to our restructuring costs. The Company expects to incur additional restructuring costs of approximately $35 million (of which approximately $20 million relates to the Signal and Power Solutions segment and approximately $15 million relates to the Advanced Safety and User Experience segment) by the end of 2020 related to programs approved as of December 31, 2019 . During the year ended December 31, 2018 , Aptiv recorded employee-related and other restructuring charges totaling approximately $109 million , of which $64 million was recognized for programs focused on the continued rotation of our manufacturing footprint to best cost locations in Europe and on reducing overhead costs in the region. During the year ended December 31, 2017 , the Company recorded employee-related and other restructuring charges totaling approximately $129 million , of which $89 million was recognized for programs focused on the continued rotation of our manufacturing footprint to best cost locations in Europe and on reducing global overhead costs in the region. The charges recorded during the the year ended December 31, 2017 included the recognition of approximately $36 million of employee-related and other costs related to the initiation of a program to close a Western European Advanced Safety and User Experience manufacturing site, pursuant to the Company’s ongoing European footprint rotation strategy. Additionally, the Company recorded approximately $90 million of restructuring costs within discontinued operations during the year ended December 31, 2017 related to the Powertrain Systems business. These amounts were primarily incurred related to the Company’s ongoing European footprint rotation strategy, and included charges of approximately $54 million for the closure of a European manufacturing site. Restructuring charges for employee separation and termination benefits are paid either over the severance period or in a lump sum in accordance with either statutory requirements or individual agreements. Aptiv incurred cash expenditures related to its restructuring programs of approximately $119 million and $135 million in the years ended December 31, 2019 and 2018 , respectively. The following table summarizes the restructuring charges recorded for the years ended December 31, 2019 , 2018 and 2017 by operating segment: Year Ended December 31, 2019 2018 2017 (in millions) Signal and Power Solutions $ 104 $ 90 $ 67 Advanced Safety and User Experience 44 19 62 Total $ 148 $ 109 $ 129 The table below summarizes the activity in the restructuring liability for the years ended December 31, 2019 and 2018 : Employee Termination Benefits Liability Other Exit Costs Liability Total (in millions) Accrual balance at January 1, 2018 $ 131 $ 1 $ 132 Provision for estimated expenses incurred during the year 109 — 109 Payments made during the year (134 ) (1 ) (135 ) Foreign currency and other (2 ) — (2 ) Accrual balance at December 31, 2018 $ 104 $ — $ 104 Provision for estimated expenses incurred during the year $ 148 $ — $ 148 Payments made during the year (119 ) — (119 ) Foreign currency and other 1 — 1 Accrual balance at December 31, 2019 $ 134 $ — $ 134 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt | DEBT The following is a summary of debt outstanding, net of unamortized issuance costs and discounts, as of December 31, 2019 and 2018 : December 31, 2019 2018 (in millions) Accounts receivable factoring $ 266 $ 279 Revolving Credit Facility 90 — 3.15%, senior notes, due 2020 (net of $0 and $1 unamortized issuance costs and $0 and $1 discount, respectively) — 648 4.15%, senior notes, due 2024 (net of $2 and $3 unamortized issuance costs and $1 and $1 discount, respectively) 697 696 1.50%, Euro-denominated senior notes, due 2025 (net of $3 and $3 unamortized issuance costs and $2 and $3 discount, respectively) 779 795 4.25%, senior notes, due 2026 (net of $3 and $3 unamortized issuance costs, respectively) 647 647 1.60%, Euro-denominated senior notes, due 2028 (net of $3 and $3 unamortized issuance costs and $0 and $1 discount, respectively) 556 568 4.35%, senior notes, due 2029 (net of $3 and $0 unamortized issuance costs, respectively) 297 — 4.40%, senior notes, due 2046 (net of $3 and $3 unamortized issuance costs and $2 and $2 discount, respectively) 295 295 5.40%, senior notes, due 2049 (net of $4 and $0 unamortized issuance costs and $1 and $0 discount, respectively) 345 — Tranche A Term Loan, due 2021 (net of $1 and $1 unamortized issuance costs, respectively) 359 384 Finance leases and other 33 32 Total debt 4,364 4,344 Less: current portion (393 ) (306 ) Long-term debt $ 3,971 $ 4,038 The principal maturities of debt, at nominal value, are as follows: Debt and Finance Lease Obligations (in millions) 2020 $ 393 2021 343 2022 3 2023 2 2024 702 Thereafter 2,949 Total $ 4,392 Credit Agreement Aptiv PLC and its wholly-owned subsidiary Aptiv Corporation entered into a credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), under which it maintains senior unsecured credit facilities currently consisting of a term loan (the “Tranche A Term Loan”) and a revolving credit facility of $2.0 billion (the “Revolving Credit Facility”). The Credit Agreement was entered into in March 2011 and has been subsequently amended and restated on several occasions, most recently on August 17, 2016. The 2016 amendment extended the maturity of the Revolving Credit Facility and the Tranche A Term Loan from 2018 to 2021, increased the capacity of the Revolving Credit Facility from $1.5 billion to $2.0 billion and permitted Aptiv PLC to act as a borrower on the Revolving Credit Facility. The Tranche A Term Loan and the Revolving Credit Facility mature on August 17, 2021. Beginning in the fourth quarter of 2017, Aptiv was obligated to begin making quarterly principal payments throughout the term of the Tranche A Term Loan according to the amortization schedule in the Credit Agreement. The Credit Agreement also contains an accordion feature that permits Aptiv to increase, from time to time, the aggregate borrowing capacity under the Credit Agreement by up to an additional $1 billion (or a greater amount based upon a formula set forth in the Credit Agreement) upon Aptiv’s request, the agreement of the lenders participating in the increase, and the approval of the Administrative Agent and existing lenders. As of December 31, 2019 , $90 million was outstanding under the Revolving Credit Facility and less than $1 million in letters of credit were issued under the Credit Agreement. Letters of credit issued under the Credit Agreement reduce availability under the Revolving Credit Facility. Loans under the Credit Agreement bear interest, at Aptiv’s option, at either (a) the Administrative Agent’s Alternate Base Rate (“ABR” as defined in the Credit Agreement) or (b) the London Interbank Offered Rate (the “Adjusted LIBO Rate” as defined in the Credit Agreement) (“LIBOR”) plus in either case a percentage per annum as set forth in the table below (the “Applicable Rate”). The Applicable Rates under the Credit Agreement on the specified dates are set forth below: December 31, 2019 December 31, 2018 LIBOR plus ABR plus LIBOR plus ABR plus Revolving Credit Facility 1.10 % 0.10 % 1.10 % 0.10 % Tranche A Term Loan 1.25 % 0.25 % 1.25 % 0.25 % The Applicable Rate under the Credit Agreement may increase or decrease from time to time based on changes in the Company’s credit ratings. Accordingly, the interest rate will fluctuate during the term of the Credit Agreement based on changes in the ABR, LIBOR or future changes in the Company’s corporate credit ratings. The Credit Agreement also requires that Aptiv pay certain facility fees on the Revolving Credit Facility and certain letter of credit issuance and fronting fees. The interest rate period with respect to LIBOR interest rate options can be set at one-, two-, three-, or six-months as selected by Aptiv in accordance with the terms of the Credit Agreement (or other period as may be agreed by the applicable lenders). Aptiv may elect to change the selected interest rate option in accordance with the provisions of the Credit Agreement. As of December 31, 2019 , Aptiv selected the one-month LIBOR interest rate option on the Tranche A Term Loan, and the rate effective as of December 31, 2019 , as detailed in the table below, was based on the Company’s current credit rating and the Applicable Rate for the Credit Agreement: Borrowings as of December 31, 2019 Rates effective as of Applicable Rate (in millions) December 31, 2019 Revolving Credit Facility ABR plus 0.10% $ 40 4.85 % Revolving Credit Facility LIBOR plus 1.10% $ 50 2.85 % Tranche A Term Loan LIBOR plus 1.25% $ 360 3.00 % Borrowings under the Credit Agreement are prepayable at Aptiv’s option without premium or penalty. The Credit Agreement contains certain covenants that limit, among other things, the Company’s (and the Company’s subsidiaries’) ability to incur certain additional indebtedness or liens or to dispose of substantially all of its assets. In addition, the Credit Agreement requires that the Company maintain a consolidated leverage ratio (the ratio of Consolidated Total Indebtedness to Consolidated EBITDA, each as defined in the Credit Agreement) of less than 3.50 to 1.0 . The Credit Agreement also contains events of default customary for financings of this type. The Company was in compliance with the Credit Agreement covenants as of December 31, 2019 . As of December 31, 2019 , all obligations under the Credit Agreement were borrowed by Aptiv Corporation and jointly and severally guaranteed by its direct and indirect parent companies, subject to certain exceptions set forth in the Credit Agreement. Refer to Note 22. Supplemental Guarantor and Non-Guarantor Condensed Consolidating Financial Statements for additional information. Senior Unsecured Notes On March 3, 2014, Aptiv Corporation issued $700 million in aggregate principal amount of 4.15% senior unsecured notes due 2024 (the “2014 Senior Notes”) in a transaction registered under the Securities Act of 1933, as amended (the “Securities Act”). The 2014 Senior Notes were priced at 99.649% of par, resulting in a yield to maturity of 4.193% . The proceeds were primarily utilized to redeem $500 million of 5.875% senior unsecured notes due 2019 and to repay a portion of the Tranche A Term Loan. Aptiv paid approximately $6 million of issuance costs in connection with the 2014 Senior Notes. Interest is payable semi-annually on March 15 and September 15 of each year to holders of record at the close of business on March 1 or September 1 immediately preceding the interest payment date. On March 10, 2015, Aptiv PLC issued €700 million in aggregate principal amount of 1.50% Euro-denominated senior unsecured notes due 2025 (the “2015 Euro-denominated Senior Notes”) in a transaction registered under the Securities Act. The 2015 Euro-denominated Senior Notes were priced at 99.54% of par, resulting in a yield to maturity of 1.55% . The proceeds were primarily utilized to redeem $500 million of 6.125% senior unsecured notes due 2021, and to fund growth initiatives, such as acquisitions, and share repurchases. Aptiv incurred approximately $5 million of issuance costs in connection with the 2015 Euro-denominated Senior Notes. Interest is payable annually on March 10. The Company has designated the 2015 Euro-denominated Senior Notes as a net investment hedge of the foreign currency exposure of its investments in certain Euro-denominated wholly owned subsidiaries. Refer to Note 17. Derivatives and Hedging Activities for further information. On November 19, 2015, Aptiv PLC issued $1.3 billion in aggregate principal amount of senior unsecured notes in a transaction registered under the Securities Act, comprised of $650 million of 3.15% senior unsecured notes due 2020 (the “3.15% Senior Notes”) and $650 million of 4.25% senior unsecured notes due 2026 (the “4.25% Senior Notes”) (collectively, the “2015 Senior Notes”). The 3.15% Senior Notes were priced at 99.784% of par, resulting in a yield to maturity of 3.197% , and the 4.25% Senior Notes were priced at 99.942% of par, resulting in a yield to maturity of 4.256% . The proceeds were primarily utilized to fund a portion of the cash consideration for the acquisition of HellermannTyton PLC, and for general corporate purposes, including the payment of fees and expenses associated with the HellermannTyton PLC acquisition and the related financing transaction. Aptiv incurred approximately $8 million of issuance costs in connection with the 2015 Senior Notes. Interest on the 3.15% Senior Notes was payable semi-annually on May 19 and November 19 of each year to holders of record at the close of business on May 4 or November 4 immediately preceding the interest payment date. Interest on the 4.25% Senior Notes is payable semi-annually on January 15 and July 15 of each year to holders of record at the close of business on January 1 or July 1 immediately preceding the interest payment date. In March 2019, Aptiv redeemed for cash the entire $650 million aggregate principal amount outstanding of the 3.15% Senior Notes, financed by the proceeds received from the issuance of the 2019 Senior Notes, as defined below. As a result of the redemption of the 3.15% Senior Notes, Aptiv recognized a loss on debt extinguishment of approximately $6 million during the year ended December 31, 2019 within other expense, net in the consolidated statements of operations. On September 15, 2016, Aptiv PLC issued €500 million in aggregate principal amount of 1.60% Euro-denominated senior unsecured notes due 2028 (the “2016 Euro-denominated Senior Notes”) in a transaction registered under the Securities Act. The 2016 Euro-denominated Senior Notes were priced at 99.881% of par, resulting in a yield to maturity of 1.611% . The proceeds, together with proceeds from the 2016 Senior Notes described below, were utilized to redeem the $800 million of 5.00% senior unsecured notes due 2023. Aptiv incurred approximately $4 million of issuance costs in connection with the 2016 Euro-denominated Senior Notes. Interest is payable annually on September 15. The Company has designated the 2016 Euro-denominated Senior Notes as a net investment hedge of the foreign currency exposure of its investments in certain Euro-denominated wholly-owned subsidiaries. Refer to Note. 17. Derivatives and Hedging Activities for further information. On September 20, 2016, Aptiv PLC issued $300 million in aggregate principal amount of 4.40% senior unsecured notes due 2046 (the “2016 Senior Notes”) in a transaction registered under the Securities Act. The 2016 Senior Notes were priced at 99.454% of par, resulting in a yield to maturity of 4.433% . The proceeds, together with proceeds from the 2016 Euro-denominated Senior Notes, were utilized to redeem the $800 million of 5.00% senior unsecured notes due 2023. Aptiv incurred approximately $3 million of issuance costs in connection with the 2016 Senior Notes. Interest is payable semi-annually on April 1 and October 1 of each year to holders of record at the close of business on March 15 or September 15 immediately preceding the interest payment date. On March 14, 2019, Aptiv PLC issued $650 million in aggregate principal amount of senior unsecured notes in a transaction registered under the Securities Act, comprised of $300 million of 4.35% senior unsecured notes due 2029 (the “4.35% Senior Notes”) and $350 million of 5.40% senior unsecured notes due 2049 (the “5.40% Senior Notes”) (collectively, the “2019 Senior Notes”). The 4.35% Senior Notes were priced at 99.879% of par, resulting in a yield to maturity of 4.365% , and the 5.40% Senior Notes were priced at 99.558% of par, resulting in a yield to maturity of 5.430% . The proceeds were utilized to redeem the 3.15% Senior Notes. Aptiv incurred approximately $7 million of issuance costs in connection with the 2019 Senior Notes. Interest on the 2019 Senior Notes is payable semi-annually on March 15 and September 15 of each year to holders of record at the close of business on March 1 or September 1 immediately preceding the interest payment date. Although the specific terms of each indenture governing each series of senior notes vary, the indentures contain certain restrictive covenants, including with respect to Aptiv’s (and Aptiv’s subsidiaries) ability to incur liens, enter into sale and leaseback transactions and merge with or into other entities. As of December 31, 2019 , the Company was in compliance with the provisions of all series of the outstanding senior notes. The 2014 Senior Notes issued by Aptiv Corporation are fully and unconditionally guaranteed, jointly and severally, by Aptiv PLC and by certain of Aptiv PLC’s direct and indirect subsidiaries which are directly or indirectly 100% owned by Aptiv PLC, subject to customary release provisions (other than in the case of Aptiv PLC). The 2015 Euro-denominated Senior Notes, 4.25% Senior Notes, 2016 Euro-denominated Senior Notes, 2016 Senior Notes and 2019 Senior Notes issued by Aptiv PLC are, and prior to their redemption, the 3.15% Senior Notes were, fully and unconditionally guaranteed, jointly and severally, by certain of Aptiv PLC’s direct and indirect subsidiaries (including Aptiv Corporation), which are directly or indirectly 100% owned by Aptiv PLC, subject to customary release provisions. Refer to Note 22. Supplemental Guarantor and Non-Guarantor Condensed Consolidating Financial Statements for additional information. Other Financing Receivable factoring —Aptiv maintains a €300 million European accounts receivable factoring facility that is available on a committed basis. This facility is accounted for as short-term debt and borrowings are subject to the availability of eligible accounts receivable. Collateral is not required related to these trade accounts receivable. This program renews on a non-committed, indefinite basis unless terminated by either party. Borrowings bear interest at Euro Interbank Offered Rate (“EURIBOR”) plus 0.42% for borrowings denominated in Euros. The rate effective on amounts outstanding as of December 31, 2019 was 0.42% . As of December 31, 2019 and 2018 , Aptiv had $266 million and $279 million , respectively, outstanding on the European accounts receivable factoring facility. Finance leases and other —As of December 31, 2019 and 2018 , approximately $33 million and $32 million , respectively, of other debt primarily issued by certain non-U.S. subsidiaries and finance lease obligations were outstanding. Interest —Cash paid for interest related to debt outstanding totaled $153 million , $134 million and $124 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Letter of credit facilities —In addition to the letters of credit issued under the Credit Agreement, Aptiv had approximately $2 million and $2 million outstanding through other letter of credit facilities as of December 31, 2019 and 2018 , respectively, primarily to support arrangements and other obligations at certain of its subsidiaries. Indebtedness Related to the Delphi Technologies Separation As further described in Note 25. Discontinued Operations and Held For Sale, the Company received a dividend of approximately $1,148 million from Delphi Technologies in connection with the Separation. Delphi Technologies financed this dividend through the issuance of approximately $1.55 billion of debt, consisting of a senior secured five-year $750 million term loan facility that was issued upon the Separation and $800 million aggregate principal amount of 5.00% senior unsecured notes due 2025 that were issued in September 2017 (collectively, the “Delphi Technologies Debt”). As of December 4, 2017 , in connection with the Separation, the Delphi Technologies Debt was transferred to Delphi Technologies and is no longer reflected in the Company’s consolidated financial statements. |
Pension Benefits
Pension Benefits | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |
Pension Benefits | PENSION BENEFITS Certain of Aptiv’s non-U.S. subsidiaries sponsor defined benefit pension plans, which generally provide benefits based on negotiated amounts for each year of service. Aptiv’s primary non-U.S. plans are located in France, Germany, Mexico, Portugal and the U.K. The U.K. and certain Mexican plans are funded. In addition, Aptiv has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded over the requisite service period. Aptiv sponsors a Supplemental Executive Retirement Program (“SERP”) for those employees who were U.S. executives of DPHH prior to September 30, 2008 and were still U.S. executives of the Company on October 7, 2009, the effective date of the program. This program is unfunded. Executives receive benefits over 5 years after an involuntary or voluntary separation from Aptiv. The SERP is closed to new members. Funded Status The amounts shown below reflect the change in the U.S. defined benefit pension obligations during 2019 and 2018 . Year Ended December 31, 2019 2018 (in millions) Benefit obligation at beginning of year $ 18 $ 29 Interest cost 1 1 Actuarial gain — (2 ) Benefits paid (8 ) (10 ) Benefit obligation at end of year 11 18 Change in plan assets: Fair value of plan assets at beginning of year — — Aptiv contributions 8 10 Benefits paid (8 ) (10 ) Fair value of plan assets at end of year — — Underfunded status (11 ) (18 ) Amounts recognized in the consolidated balance sheets consist of: Current liabilities (4 ) (7 ) Non-current liabilities (7 ) (11 ) Total (11 ) (18 ) Amounts recognized in accumulated other comprehensive loss consist of (pre-tax): Actuarial loss 7 8 Total $ 7 $ 8 The amounts shown below reflect the change in the non-U.S. defined benefit pension obligations during 2019 and 2018 . Year Ended December 31, 2019 2018 (in millions) Benefit obligation at beginning of year $ 809 $ 835 Obligation assumed in KUM acquisition — 25 Service cost 17 17 Interest cost 25 23 Actuarial loss (gain) 79 (4 ) Benefits paid (33 ) (30 ) Impact of curtailments 7 (1 ) Plan amendments — 6 Exchange rate movements and other (4 ) (62 ) Benefit obligation at end of year 900 809 Change in plan assets: Fair value of plan assets at beginning of year 362 377 Assets acquired in KUM acquisition — 19 Actual return on plan assets 40 (6 ) Aptiv contributions 30 38 Benefits paid (33 ) (30 ) Exchange rate movements and other 4 (36 ) Fair value of plan assets at end of year 403 362 Underfunded status (497 ) (447 ) Amounts recognized in the consolidated balance sheets consist of: Non-current assets 2 2 Current liabilities (25 ) (17 ) Non-current liabilities (474 ) (432 ) Total (497 ) (447 ) Amounts recognized in accumulated other comprehensive loss consist of (pre-tax): Actuarial loss 188 143 Prior service cost 5 6 Total $ 193 $ 149 The projected benefit obligation (“PBO”), accumulated benefit obligation (“ABO”), and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets and with plan assets in excess of accumulated benefit obligations are as follows: U.S. Plans Non-U.S. Plans 2019 2018 2019 2018 (in millions) Plans with ABO in Excess of Plan Assets PBO $ 11 $ 18 $ 770 $ 699 ABO 11 18 721 655 Fair value of plan assets at end of year — — 291 258 Plans with Plan Assets in Excess of ABO PBO $ — $ — $ 130 $ 110 ABO — — 97 85 Fair value of plan assets at end of year — — 112 104 Total PBO $ 11 $ 18 $ 900 $ 809 ABO 11 18 818 740 Fair value of plan assets at end of year — — 403 362 Benefit costs presented below were determined based on actuarial methods and included the following, which include the results of discontinued operations for the year ended December 31, 2017: U.S. Plans Year Ended December 31, 2019 2018 2017 (in millions) Interest cost $ 1 $ 1 $ 1 Amortization of actuarial losses 1 1 1 Net periodic benefit cost $ 2 $ 2 $ 2 Non-U.S. Plans Year Ended December 31, 2019 2018 2017 (in millions) Service cost $ 17 $ 17 $ 48 Interest cost 25 23 54 Expected return on plan assets (18 ) (22 ) (63 ) Settlement loss 1 3 1 Curtailment loss (gain) 7 (1 ) 16 Amortization of actuarial losses 9 13 35 Other 1 — — Net periodic benefit cost $ 42 $ 33 $ 91 Other postretirement benefit obligations were approximately $2 million and $3 million at December 31, 2019 and 2018 , respectively. Experience gains and losses, as well as the effects of changes in actuarial assumptions and plan provisions are recognized in other comprehensive income. Cumulative gains and losses in excess of 10% of the PBO for a particular plan are amortized over the average future service period of the employees in that plan. The estimated actuarial loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2020 is $15 million . The principal assumptions used to determine the pension expense and the actuarial value of the projected benefit obligation for the U.S. and non-U.S. pension plans were: Assumptions used to determine benefit obligations at December 31: Pension Benefits U.S. Plans Non-U.S. Plans 2019 2018 2019 2018 Weighted-average discount rate 2.40 % 3.80 % 2.87 % 3.53 % Weighted-average rate of increase in compensation levels N/A N/A 3.69 % 3.74 % Assumptions used to determine net expense for years ended December 31: Pension Benefits U.S. Plans Non-U.S. Plans 2019 2018 2017 2019 2018 2017 Weighted-average discount rate 3.80 % 2.70 % 2.70 % 3.53 % 3.39 % 2.83 % Weighted-average rate of increase in compensation levels N/A N/A N/A 3.74 % 3.65 % 3.86 % Weighted-average expected long-term rate of return on plan assets N/A N/A N/A 4.95 % 5.63 % 5.84 % Aptiv selects discount rates by analyzing the results of matching each plan’s projected benefit obligations with a portfolio of high-quality fixed income investments rated AA-or higher by Standard and Poor’s. Aptiv does not have any U.S. pension assets; therefore no U.S. asset rate of return calculation was necessary. The primary funded non-U.S. plans are in the U.K. and Mexico. For the determination of 2019 expense, Aptiv assumed a long-term expected asset rate of return of approximately 4.50% and 7.50% for the U.K. and Mexico, respectively. Aptiv evaluated input from local actuaries and asset managers, including consideration of recent fund performance and historical returns, in developing the long-term rate of return assumptions. The assumptions for the U.K. and Mexico are primarily long-term, prospective rates. To determine the expected return on plan assets, the market-related value of our plan assets is actual fair value. Aptiv’s pension expense for 2020 is determined at the 2019 year end measurement date. For purposes of analysis, the following table highlights the sensitivity of the Company’ pension obligations and expense attributable to continuing operations to changes in key assumptions: Change in Assumption Impact on Pension Expense Impact on PBO 25 basis point (“bp”) decrease in discount rate + $2 million + $31 million 25 bp increase in discount rate - $2 million - $30 million 25 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. Pension Funding The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Projected Pension Benefit Payments U.S. Plans Non-U.S. Plans (in millions) 2020 $ 5 $ 55 2021 3 35 2022 1 38 2023 1 43 2024 1 44 2025 – 2029 1 273 Aptiv anticipates making pension contributions and benefit payments of approximately $50 million in 2020 . Aptiv sponsors defined contribution plans for certain hourly and salaried employees. Expense related to the contributions for these plans attributable to continued operations was $40 million , $37 million , and $36 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Plan Assets Certain 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, 2019 and 2018 , by asset category, are as follows: Fair Value Measurements at December 31, 2019 Asset Category Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in millions) Cash $ 21 $ 21 $ — $ — Time deposits 25 — 25 — Equity mutual funds 31 — 31 — Bond mutual funds 174 — 174 — Real estate trust funds 31 — — 31 Hedge funds 15 — — 15 Insurance contracts 7 — — 7 Debt securities 57 57 — — Equity securities 42 42 — — Total $ 403 $ 120 $ 230 $ 53 Fair Value Measurements at December 31, 2018 Asset Category Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in millions) Cash $ 22 $ 22 $ — $ — Time deposits 23 — 23 — Equity mutual funds 25 — 25 — Bond mutual funds 148 — 148 — Real estate trust funds 24 — — 24 Hedge funds 21 — — 21 Insurance contracts 6 — — 6 Debt securities 53 53 — — Equity securities 40 40 — — Total $ 362 $ 115 $ 196 $ 51 Following is a description of the valuation methodologies used for pension assets measured at fair value. Time deposits —The fair value of fixed-maturity certificates of deposit was estimated using the rates offered for deposits of similar remaining maturities. Equity mutual funds —The fair value of the equity mutual funds is determined by the indirect quoted market prices on regulated financial exchanges of the underlying investments included in the fund. Bond mutual funds —The fair value of the bond mutual funds is determined by the indirect quoted market prices on regulated financial exchanges of the underlying investments included in the fund. Real estate —The fair value of real estate properties is estimated using an annual appraisal provided by the administrator of the property investment. Management believes this is an appropriate methodology to obtain the fair value of these assets. Hedge funds —The fair value of the hedge funds is accounted for by a custodian. The custodian obtains valuations from the underlying hedge fund managers based on market quotes for the most liquid assets and alternative methods for assets that do not have sufficient trading activity to derive prices. Management and the custodian review the methods used by the underlying managers to value the assets. Management believes this is an appropriate methodology to obtain the fair value of these assets. Insurance contracts —The insurance contracts are invested in a fund with guaranteed minimum returns. The fair values of these contracts are based on the net asset value underlying the contracts. Debt securities —The fair value of debt securities is determined by direct quoted market prices on regulated financial exchanges. Equity securities —The fair value of equity securities is determined by direct quoted market prices on regulated financial exchanges. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Real Estate Trust Fund Hedge Funds Insurance Contracts (in millions) Beginning balance at January 1, 2018 $ 13 $ 27 $ 6 Actual return on plan assets: Relating to assets still held at the reporting date 2 — — Purchases, sales and settlements 9 (4 ) — Foreign currency translation and other — (2 ) — Ending balance at December 31, 2018 $ 24 $ 21 $ 6 Actual return on plan assets: Relating to assets still held at the reporting date $ — $ (1 ) $ — Purchases, sales and settlements 6 (6 ) — Foreign currency translation and other 1 1 1 Ending balance at December 31, 2019 $ 31 $ 15 $ 7 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Ordinary Business Litigation Aptiv is from time to time subject to various legal actions and claims incidental to its business, including those arising out of alleged defects, alleged breaches of contracts, product warranties, intellectual property matters, and employment-related matters. It is the opinion of Aptiv that the outcome of such matters will not have a material adverse impact on the consolidated financial position, results of operations, or cash flows of Aptiv. With respect to warranty matters, although Aptiv cannot ensure that the future costs of warranty claims by customers will not be material, Aptiv believes its established reserves are adequate to cover potential warranty settlements. Unsecured Creditors Litigation Aptiv was subject to litigation related to general unsecured claims against DPHH, resulting from that entity’s 2005 bankruptcy filing. In January 2017, the U.S. Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) which had jurisdiction over the general unsecured claims, granted summary judgment in favor of the holders of the general unsecured claims against DPHH, and a $300 million distribution for general unsecured claims was triggered. In connection with the January 2017 ruling, the Company recorded a reserve of $300 million in the fourth quarter of 2016. The reserve was recorded to other expense, net in the consolidated statements of operations, and resulted in a corresponding reduction in earnings per diluted share of approximately $1.10 for the year ended December 31, 2016. In March 2017, the Bankruptcy Court issued a ruling on the application of pre-judgment interest owed on the amount of the distribution to be made to the holders of the general unsecured claims. During the second quarter of 2017, Aptiv and the holders of the general unsecured claims against DPHH reached an agreement to settle this matter for $310 million , which was subsequently approved by the Bankruptcy Court. In July 2017, the Company paid the $310 million settlement pursuant to the terms of the settlement agreement. In accordance with the terms of the settlement agreement, the Company recorded a net incremental charge of $10 million to other expense, net during the year ended December 31, 2017. Brazil Matters Aptiv conducts business operations in Brazil that are subject to the Brazilian federal labor, social security, environmental, tax and customs laws, as well as a variety of state and local laws. While Aptiv believes it complies with such laws, they are complex, subject to varying interpretations, and the Company is often engaged in litigation with government agencies regarding the application of these laws to particular circumstances. As of December 31, 2019 , the majority of claims asserted against Aptiv in Brazil relate to such litigation. The remaining claims in Brazil relate to commercial and labor litigation with private parties. As of December 31, 2019 , claims totaling approximately $140 million (using December 31, 2019 foreign currency rates) have been asserted against Aptiv in Brazil. As of December 31, 2019 , the Company maintains accruals for these asserted claims of $30 million (using December 31, 2019 foreign currency rates). The amounts accrued represent claims that are deemed probable of loss and are reasonably estimable based on the Company’s analyses and assessment of the asserted claims and prior experience with similar matters. While the Company believes its accruals are adequate, the final amounts required to resolve these matters could differ materially from the Company’s recorded estimates and Aptiv’s results of operations could be materially affected. The Company estimates the reasonably possible loss in excess of the amounts accrued related to these claims to be zero to $110 million . Environmental Matters Aptiv is subject to the requirements of U.S. federal, state, local and non-U.S. environmental and safety and health laws and regulations. As of December 31, 2019 and 2018 , the undiscounted reserve for environmental investigation and remediation was approximately $4 million (of which $1 million was recorded in accrued liabilities and $3 million was recorded in other long-term liabilities) and $4 million (of which $1 million was recorded in accrued liabilities and $3 million was recorded in other long-term liabilities), respectively. Aptiv cannot ensure that environmental requirements will not change or become more stringent over time or that its eventual environmental remediation costs and liabilities will not exceed the amount of its current reserves. In the event that such liabilities were to significantly exceed the amounts recorded, Aptiv’s results of operations could be materially affected. At December 31, 2019 the difference between the recorded liabilities and the reasonably possible range of potential loss was not material. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Income from continuing operations before income taxes and equity income for U.S. and non-U.S. operations are as follows: Year Ended December 31, 2019 2018 2017 (in millions) U.S. (loss) income $ (1 ) $ 369 $ (32 ) Non-U.S. income 1,127 965 1,287 Income from continuing operations before income taxes and equity income $ 1,126 $ 1,334 $ 1,255 The provision (benefit) for income taxes from continuing operations is comprised of: Year Ended December 31, 2019 2018 2017 (in millions) Current income tax expense (benefit): U.S. federal $ 8 $ 40 $ 37 Non-U.S. 156 214 214 U.S. state and local 1 10 (2 ) Total current 165 264 249 Deferred income tax expense (benefit), net: U.S. federal (23 ) 13 (15 ) Non-U.S. (8 ) (16 ) (12 ) U.S. state and local (2 ) (11 ) 1 Total deferred (33 ) (14 ) (26 ) Total income tax provision $ 132 $ 250 $ 223 Cash paid or withheld for income taxes was $189 million , $283 million and $275 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. For purposes of comparability and consistency, the Company uses the notional U.S. federal income tax rate when presenting the Company’s reconciliation of the income tax provision. The Company was formerly a U.K. resident taxpayer and became an Irish resident taxpayer in April 2018. A reconciliation of the provision for income taxes compared with the amounts at the notional U.S. federal statutory rate was: Year Ended December 31, 2019 2018 2017 (in millions) Notional U.S. federal income taxes at statutory rate $ 236 $ 280 $ 439 Income taxed at other rates (92 ) (106 ) (260 ) Change in valuation allowance (18 ) (4 ) (6 ) Other change in tax reserves 20 36 25 Withholding taxes 19 28 64 Tax credits (18 ) (18 ) (32 ) Change in tax law 1 26 (6 ) Other adjustments (16 ) 8 (1 ) Total income tax expense $ 132 $ 250 $ 223 Effective tax rate 12 % 19 % 18 % The Company’s tax rate is affected by the fact that its parent entity was formerly a U.K. resident taxpayer and became an Irish resident taxpayer in April 2018, the tax rates in Ireland, the U.K. and other jurisdictions in which the Company operates, the relative amount of income earned by jurisdiction and the relative amount of losses or income for which no tax benefit or expense was recognized due to a valuation allowance. Included in the non-U.S. income taxed at other rates are tax incentives obtained in various non-U.S. countries, primarily the High and New Technology Enterprise (“HNTE”) status in China, a Free Trade Zone exemption in Honduras and the Special Economic Zone exemption in Turkey, which totaled $19 million in 2019 , $41 million in 2018 and $45 million in 2017 , as well as tax benefit for income earned, and no tax benefit for losses incurred, in jurisdictions where a valuation allowance has been recorded. The Company currently benefits from tax holidays in various non-U.S. jurisdictions with expiration dates from 2020 through 2041. The income tax benefits attributable to these tax holidays are approximately $7 million ( $0.03 per share) in 2019 , $7 million ( $0.03 per share) in 2018 and $7 million ( $0.03 per share) in 2017 . The effective tax rate in the year ended December 31, 2019 was impacted by releases of valuation allowances as a result of the Company’s determination that it was more likely than not that certain deferred tax assets would be realized, as well as favorable provision to return adjustments. The Company also accrued $20 million of reserve adjustments for uncertain tax positions, which included reserves for ongoing audits in foreign jurisdictions, as well as for changes in estimates based on relevant new or additional evidence obtained related to certain of the Company’s tax positions, including tax authority administrative pronouncements and court decisions. The effective tax rate in the year ended December 31, 2018 was impacted by additional income tax expense for an adjustment to the provisional effects of the enactment of The Tax Cuts and Jobs Act (the “Tax Legislation”) and the income tax expense recorded as a result of the intra-entity transfer of intellectual property, as described below, partially offset by favorable geographic income mix in 2018 as compared to 2017, primarily due to changes in the underlying operations of the business. The Company also accrued $36 million of reserve adjustments for uncertain tax positions, which included reserves for ongoing audits in foreign jurisdictions, as well as for changes in estimates based on relevant new or additional evidence obtained related to certain of the Company’s tax positions, including tax authority administrative pronouncements and court decisions. The Tax Legislation was enacted in the U.S. on December 22, 2017, significantly revising the U.S. corporate income tax by, among other things, lowering corporate income tax rates and imposing a one-time repatriation tax on deemed repatriated earnings of foreign subsidiaries. Pursuant to ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“ASU 2018-05”), the Company recognized the provisional effects of the enactment of the Tax Legislation of approximately $50 million during the year ended December 31, 2017 for which measurement could be reasonably estimated. The impact was primarily the result of increased tax expense due to the one-time deemed repatriation tax and a reduction of our foreign tax credit, partially offset by the favorable impact of the reduced tax rate on the Company’s net deferred tax liabilities. Pursuant to ASU 2018-05, adjustments to the provisional amounts recorded by the Company as of December 31, 2017 identified within a subsequent measurement period of up to one year from the enactment date were included, as discussed above, as an adjustment to tax expense from continuing operations in the period the amounts were determined. During 2018, the U.S. Treasury Department and the Internal Revenue Service (“IRS”) issued additional guidance, particularly with respect to computing the transition tax on the untaxed foreign earnings of foreign subsidiaries. As a result, during the year ended December 31, 2018, the Company recorded approximately $30 million to income tax expense as an adjustment to the provisional amounts recorded as of December 31, 2017, primarily related to a reduction of our foreign tax credit as a result of recently issued regulatory guidance. Also as a result of the enactment of the Tax Legislation, the Company reclassified $9 million from accumulated OCI to retained earnings, in accordance with ASU 2018-02, which the Company adopted in the first quarter of 2019, as further described in Note 2. Significant Accounting Policies. The accounting for the Tax Legislation was finalized in the fourth quarter of 2018, and resulted in no further adjustments beyond the amounts described above. The Tax Legislation also created a provision known as Global Intangible Low-Taxed Income (“GILTI”) that imposes a tax on certain earnings of foreign subsidiaries. U.S. GAAP allows companies to make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred. We have elected to account for GILTI in the year the tax is incurred. During the year ended December 31, 2017, the Company also incurred certain intra-entity gains and related tax impacts in connection with transactions comprising the Separation. During the fourth quarter of 2017, the Company finalized its plan and entered into several transactions to separate these businesses into stand-alone legal and operational structures. As these transactions occurred between related subsidiaries that were consolidated at the time the transactions occurred, the gains were deferred within the consolidated financial statements in accordance with ASC 810. The tax impacts of the gains, which totaled approximately $64 million , were recognized upon the distribution of the related assets to Delphi Technologies and recorded as a reduction to Shareholders’ Equity during the year ended December 31, 2017. As described above, certain of the Company’s Chinese subsidiaries benefit from a reduced corporate income tax rate as a result of their HNTE status. Aptiv regularly submits applications to reapply for HNTE status as they expire. The Company believes each of the applicable entities will continue to renew HNTE status going forward and has reflected this in calculating total income tax expense. Intellectual Property Transfer During the year ended December 31, 2018, the Company finalized changes to its corporate entity operating structure, including transferring certain intellectual property among certain of its subsidiaries, primarily to align corporate entities with the Company’s evolving operations and business model following the Separation of its former Powertrain Systems segment. The transfer of assets occurred between wholly-owned legal entities in different U.S. and non-U.S. tax jurisdictions. As the impact of the transfer was the result of an intra-entity transaction, the resulting gain on the transfer was eliminated for purposes of the consolidated financial statements. However, the transferring entity recognized a gain on the transfer of assets that was subject to income tax in its local jurisdiction. In accordance with ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory , the income tax expense recorded as a result of the intra-entity transfer of the intellectual property was approximately $30 million , net during the year ended December 31, 2018. Deferred Income Taxes The Company accounts for income taxes and the related accounts under the liability method. Deferred income tax assets and liabilities reflect the impact of temporary differences between amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Significant components of the deferred tax assets and liabilities are as follows: December 31, 2019 2018 (in millions) Deferred tax assets: Pension $ 95 $ 88 Employee benefits 43 43 Net operating loss carryforwards 993 1,089 Warranty and other liabilities 72 63 Operating lease right-of-use assets 84 — Other 149 136 Total gross deferred tax assets 1,436 1,419 Less: valuation allowances (1,075 ) (1,178 ) Total deferred tax assets (1) $ 361 $ 241 Deferred tax liabilities: Fixed assets $ 48 $ 38 Tax on unremitted profits of certain foreign subsidiaries 56 59 Intangibles 238 234 Operating lease liabilities 84 — Total gross deferred tax liabilities 426 331 Net deferred tax liabilities $ (65 ) $ (90 ) (1) Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities. Deferred tax assets and liabilities are classified as long-term in the consolidated balance sheets. Net deferred tax assets and liabilities are included in the consolidated balance sheets as follows: December 31, 2019 2018 (in millions) Long-term assets $ 164 $ 143 Long-term liabilities (229 ) (233 ) Total deferred tax liability $ (65 ) $ (90 ) The net deferred tax liability of $65 million as of December 31, 2019 are primarily comprised of deferred tax liabilities in South Korea, Singapore and Japan offset by deferred tax asset amounts primarily in Mexico, the U.K. and Germany. Net Operating Loss and Tax Credit Carryforwards As of December 31, 2019 , the Company has gross deferred tax assets of approximately $987 million for non-U.S. net operating loss (“NOL”) carryforwards with recorded valuation allowances of $935 million . These NOL’s are available to offset future taxable income and realization is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. The NOL’s primarily relate to Luxembourg, the U.K., Poland and Germany. The NOL carryforwards have expiration dates ranging from one year to an indefinite period. Deferred tax assets include $75 million and $64 million of tax credit carryforwards with recorded valuation allowances of $71 million and $62 million at December 31, 2019 and 2018 , respectively. These tax credit carryforwards expire at various times from 2020 through 2039. Cumulative Undistributed Foreign Earnings No income taxes have been provided on indefinitely reinvested earnings of certain foreign subsidiaries at December 31, 2019 . Withholding taxes of $56 million have been accrued on undistributed earnings that are not indefinitely reinvested and are primarily related to China, Honduras, Morocco and Turkey. There are no other material liabilities for income taxes on the undistributed earnings of foreign subsidiaries, as the Company has concluded that such earnings are either indefinitely reinvested or should not give rise to additional income tax liabilities as a result of the distribution of such earnings. Uncertain Tax Positions The Company recognizes tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Unrecognized tax benefits are tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. A reconciliation of the gross change in the unrecognized tax benefits balance, excluding interest and penalties is as follows: Year Ended December 31, 2019 2018 2017 (in millions) Balance at beginning of year $ 209 $ 224 $ 180 Additions related to current year 20 33 51 Additions related to prior years 51 65 40 Reductions related to prior years (46 ) (19 ) (31 ) Reductions due to expirations of statute of limitations (11 ) (78 ) (15 ) Settlements (6 ) (16 ) (1 ) Balance at end of year $ 217 $ 209 $ 224 A portion of the Company’s unrecognized tax benefits would, if recognized, reduce its effective tax rate. The remaining unrecognized tax benefits relate to tax positions that, if recognized, would result in an offsetting change in valuation allowance and for which only the timing of the benefit is uncertain. Recognition of these tax benefits would reduce the Company’s effective tax rate only through a reduction of accrued interest and penalties. As of December 31, 2019 and 2018 , the amounts of unrecognized tax benefit that would reduce the Company’s effective tax rate were $200 million and $203 million , respectively. For the year ended December 31, 2019 , the Company recorded approximately $26 million of additional reserves for uncertain tax positions, primarily related to prior year net operating loss and other carryforwards on which full valuation allowances have been recorded. For 2019 and 2018 , respectively, $52 million and $18 million of reserves for uncertain tax positions would be offset by the write-off of a related deferred tax asset, if recognized. The Company recognizes interest and penalties relating to unrecognized tax benefits as part of income tax expense. Total accrued liabilities for interest and penalties were $14 million and $12 million at December 31, 2019 and 2018 , respectively. Total interest and penalties recognized as part of income tax expense was a $7 million expense, a $7 million benefit and a $5 million expense for the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company files tax returns in multiple jurisdictions and is subject to examination by taxing authorities throughout the world. Taxing jurisdictions significant to Aptiv include Barbados, China, Germany, Ireland, Luxembourg, Mexico, South Korea, the U.K. and the U.S. Open tax years related to these taxing jurisdictions remain subject to examination and could result in additional tax liabilities. In general, the Company’s affiliates are no longer subject to income tax examinations by foreign tax authorities for years before 2002. It is reasonably possible that audit settlements, the conclusion of current examinations or the expiration of the statute of limitations in several jurisdictions could impact the Company’s unrecognized tax benefits. A reversal of approximately $15 million is reasonably possible in the next 12 months, due to the running of statutes of limitations in various taxing jurisdictions. |
Shareholders' Equity And Net In
Shareholders' Equity And Net Income Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Shareholders' Equity and Net Income Per Share Note [Abstract] | |
Shareholders' Equity And Net Income Per Share | SHAREHOLDERS’ EQUITY AND NET INCOME PER SHARE Net Income Per Share Basic net income per share is computed by dividing net income attributable to Aptiv by the weighted average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Aptiv by the diluted weighted average number of ordinary shares outstanding during the period. For all periods presented, the calculation of net income per share contemplates the dilutive impacts, if any, of the Company’s share-based compensation plans. Refer to Note 21. Share-Based Compensation for additional information. Weighted Average Shares The following table illustrates net income per share attributable to Aptiv and the weighted average shares outstanding used in calculating basic and diluted income per share: Year Ended December 31, 2019 2018 2017 (in millions, except per share data) Numerator: Income from continuing operations $ 990 $ 1,067 $ 1,021 Income from discontinued operations — — 334 Net income attributable to Aptiv $ 990 $ 1,067 $ 1,355 Denominator: Weighted average ordinary shares outstanding, basic 256.81 264.41 267.16 Dilutive shares related to RSUs 0.58 0.81 0.87 Weighted average ordinary shares outstanding, including dilutive shares 257.39 265.22 268.03 Basic net income per share: Continuing operations $ 3.85 $ 4.04 $ 3.82 Discontinued operations — — 1.25 Basic net income per share attributable to Aptiv $ 3.85 $ 4.04 $ 5.07 Diluted net income per share: Continuing operations $ 3.85 $ 4.02 $ 3.81 Discontinued operations — — 1.25 Diluted net income per share attributable to Aptiv $ 3.85 $ 4.02 $ 5.06 Anti-dilutive securities share impact — — — Share Repurchase Programs In April 2016, the Board of Directors authorized a share repurchase program of up to $1.5 billion of ordinary shares, which commenced in September 2016. This share repurchase program provides for share purchases in the open market or in privately negotiated transactions, depending on share price, market conditions and other factors, as determined by the Company. A summary of the ordinary shares repurchased during the years ended December 31, 2019 , 2018 and 2017 is as follows: Year Ended December 31, 2019 2018 2017 Total number of shares repurchased 5,387,533 6,530,369 4,667,193 Average price paid per share $ 77.93 $ 76.44 $ 82.00 Total (in millions) $ 420 $ 499 $ 383 As of December 31, 2019 , approximately $70 million of share repurchases remained available under the April 2016 share repurchase program. All repurchased shares were retired, and are reflected as a reduction of ordinary share capital for the par value of the shares, with the excess applied as reductions to additional paid-in-capital and retained earnings. New Share Repurchase Program In January 2019, the Board of Directors authorized a new share repurchase program of up to $2.0 billion of ordinary shares. This share repurchase program provides for share purchases in the open market or in privately negotiated transactions, depending on share price, market conditions and other factors, as determined by the Company. This program will commence following the completion of the Company’s April 2016 share repurchase program described above. Dividends The Company has declared and paid cash dividends per ordinary share during the periods presented as follows: Dividend Amount Per Share (in millions) 2019: Fourth quarter $ 0.22 $ 56 Third quarter 0.22 56 Second quarter 0.22 57 First quarter 0.22 57 Total $ 0.88 $ 226 2018: Fourth quarter $ 0.22 $ 58 Third quarter 0.22 58 Second quarter 0.22 58 First quarter 0.22 59 Total $ 0.88 $ 233 In addition, in January 2020, the Board of Directors declared a regular quarterly cash dividend of $0.22 per ordinary share, payable on February 19, 2020 to shareholders of record at the close of business on February 5, 2020. |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Changes in Accumulated Comprehensive Income (Loss) | CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) attributable to Aptiv (net of tax) are shown below. Other comprehensive income includes activity relating to discontinued operations. Year Ended December 31, 2019 2018 2017 (in millions) Foreign currency translation adjustments: Balance at beginning of year $ (555 ) $ (369 ) $ (799 ) Aggregate adjustment for the year (1) (42 ) (186 ) 305 Spin-off of Delphi Technologies — — 125 Balance at end of year (597 ) (555 ) (369 ) Gains (losses) on derivatives: Balance at beginning of year $ (35 ) $ 4 $ (11 ) Other comprehensive income (loss) before reclassifications (net tax effect of $0 million, $3 million and $1 million) 50 (36 ) 14 Reclassification to income (net tax effect of $0 million, $3 million and $6 million) 6 (3 ) 1 Adoption of ASU 2018-02 (Note 2) (8 ) — — Balance at end of year 13 (35 ) 4 Pension and postretirement plans: Balance at beginning of year $ (104 ) $ (106 ) $ (405 ) Other comprehensive income (loss) before reclassifications (net tax effect of $17 million, $3 million and $3 million) (37 ) (11 ) (19 ) Reclassification to income (net tax effect of $3 million, $2 million and $6 million) 7 13 30 Spin-off of Delphi Technologies — — 288 Adoption of ASU 2018-02 (Note 2) (1 ) — — Balance at end of year (135 ) (104 ) (106 ) Accumulated other comprehensive loss, end of year $ (719 ) $ (694 ) $ (471 ) (1) Includes $29 million of gains, $67 million of gains and $177 million of losses for the years ended December 31, 2019 , 2018 and 2017 , respectively, related to non-derivative net investment hedges. Refer to Note 17. Derivatives and Hedging Activities for further description of the Company’s net investment hedges. Reclassifications from accumulated other comprehensive income (loss) to income were as follows: Reclassification Out of Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Comprehensive Income Components Year Ended December 31, Affected Line Item in the Statement of Operations 2019 2018 2017 (in millions) Gains (losses) on derivatives: Commodity derivatives $ (15 ) $ 14 $ 18 Cost of sales Foreign currency derivatives 9 (14 ) (25 ) Cost of sales (6 ) — (7 ) Income before income taxes — 3 6 Income tax expense (6 ) 3 (1 ) Net income — — — Net income attributable to noncontrolling interest $ (6 ) $ 3 $ (1 ) Net income attributable to Aptiv Pension and postretirement plans: Actuarial loss $ (10 ) $ (14 ) $ (35 ) Other income (expense), net (1) Settlement loss — (2 ) (1 ) Other income (expense), net (1) Curtailment gain — 1 — Other income (expense), net (1) (10 ) (15 ) (36 ) Income before income taxes 3 2 6 Income tax expense (7 ) (13 ) (30 ) Net income — — — Net income attributable to noncontrolling interest $ (7 ) $ (13 ) $ (30 ) Net income attributable to Aptiv Total reclassifications for the year $ (13 ) $ (10 ) $ (31 ) (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 12. Pension Benefits for additional details). |
Derivatives And Hedging Activit
Derivatives And Hedging Activities | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives And Hedging Activities | DERIVATIVES AND HEDGING ACTIVITIES Cash Flow Hedges Aptiv is exposed to market risk, such as fluctuations in foreign currency exchange rates, commodity prices and changes in interest rates, which may result in cash flow risks. To manage the volatility relating to these exposures, Aptiv aggregates the exposures on a consolidated basis to take advantage of natural offsets. For exposures that are not offset within its operations, Aptiv enters into various derivative transactions pursuant to its risk management policies, which prohibit holding or issuing derivative financial instruments for speculative purposes, and designation of derivative instruments is performed on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments are offset in part or in whole by corresponding changes in the fair value or cash flows of the underlying exposures being hedged. Aptiv assesses the initial and ongoing effectiveness of its hedging relationships in accordance with its documented policy. As of December 31, 2019 , the Company had the following outstanding notional amounts related to commodity and foreign currency forward and option contracts designated as cash flow hedges that were entered into to hedge forecasted exposures: Commodity Quantity Hedged Unit of Measure Notional Amount (Approximate USD Equivalent) (in thousands) (in millions) Copper 73,487 pounds $ 200 Foreign Currency Quantity Hedged Unit of Measure Notional Amount (Approximate USD Equivalent) (in millions) Mexican Peso 16,624 MXN $ 880 Chinese Yuan Renminbi 2,957 RMB 425 Euro 208 EUR 235 Polish Zloty 521 PLN 135 New Turkish Lira 21 TRY 5 As of December 31, 2019 , Aptiv has entered into derivative instruments to hedge cash flows extending out to December 2021. Gains and losses on derivatives qualifying as cash flow hedges are recorded in accumulated OCI, to the extent that hedges are effective, until the underlying transactions are recognized in earnings. Unrealized amounts in accumulated OCI will fluctuate based on changes in the fair value of hedge derivative contracts at each reporting period. Net gains on cash flow hedges included in accumulated OCI as of December 31, 2019 were $33 million (approximately $33 million , net of tax). Of this total, approximately $24 million of gains are expected to be included in cost of sales within the next 12 months and approximately $9 million of gains are expected to be included in cost of sales in subsequent periods. Cash flow hedges are discontinued when Aptiv determines it is no longer probable that the originally forecasted transactions will occur. Cash flows from derivatives used to manage commodity and foreign exchange risks designated as cash flow hedges are classified as operating activities within the consolidated statements of cash flows. Net Investment Hedges The Company is also exposed to the risk that adverse changes in foreign currency exchange rates could impact its net investment in non-U.S. subsidiaries. To manage this risk, the Company designates certain qualifying derivative and non-derivative instruments, including foreign currency forward contracts and foreign currency-denominated debt, as net investment hedges of certain non-U.S. subsidiaries. The gains or losses on instruments designated as net investment hedges are recognized within OCI to offset changes in the value of the net investment in these foreign currency-denominated operations. Gains and losses reported in accumulated OCI are reclassified to earnings only when the related currency translation adjustments are required to be reclassified, usually upon sale or liquidation of the investment. Cash flows from derivatives designated as net investment hedges are classified as investing activities within the consolidated statements of cash flows. Since 2016, the Company has entered into a series of forward contracts, each of which have been designated as net investment hedges of the foreign currency exposure of the Company’s investments in certain Chinese Yuan Renminbi (“RMB”)-denominated subsidiaries. During the years ended December 31, 2019 , 2018 and 2017 , the Company made net payments of zero , $6 million and $28 million , respectively, at settlement related to these series of forward contracts which matured throughout each respective year. In December 2019, the Company entered into a forward contract with a notional amount of 374 million RMB (approximately $55 million , using December 31, 2019 foreign currency rates), which matures in March 2020 . Refer to the tables below for details of the fair value recorded in the consolidated balance sheets and the effects recorded in the consolidated statements of operations and consolidated statements of comprehensive income related to these derivative instruments. The Company has designated the €700 million 2015 Euro-denominated Senior Notes and the €500 million 2016 Euro-denominated Senior Notes, as more fully described in Note 11. Debt, as net investment hedges of the foreign currency exposure of its investments in certain Euro-denominated subsidiaries. Due to changes in the value of the Euro-denominated debt instruments designated as net investment hedges, during the years ended December 31, 2019 and 2018 , $29 million and $67 million of gains, respectively, were recognized within the cumulative translation adjustment component of OCI. Cumulative losses included in accumulated OCI on these net investment hedges were $21 million as of December 31, 2019 and $50 million as of December 31, 2018 . Derivatives Not Designated as Hedges In certain occasions the Company enters into certain foreign currency and commodity contracts that are not designated as hedges. When hedge accounting is not applied to derivative contracts, gains and losses are recorded to other income (expense), net and cost of sales in the consolidated statements of operations. In conjunction with the acquisition of KUM, as more fully disclosed in Note 20. Acquisitions and Divestitures, in March 2018, the Company entered into forward contracts, requiring no initial net investment, with notional amounts totaling 559 billion South Korean Won (“KRW”) (approximately $520 million using March 1, 2018 foreign currency rates) to hedge portions of the currency risk associated with the cash payment for the acquisition. Pursuant to the requirements of ASC 815, Derivatives and Hedging , the forwards did not qualify as hedges for accounting purposes, and therefore, changes in the fair value of the forwards were recognized in other income (expense), net. During the year ended December 31, 2018, the change in fair value resulted in a pre-tax gain of $4 million , included within other income, net in the consolidated statements of operations. In conjunction with the closing of the acquisition, Aptiv settled the forward contracts in the second quarter of 2018 and received $4 million , which is reflected within investing activities from continuing operations in the consolidated statements of cash flows. Fair Value of Derivative Instruments in the Balance Sheet The fair value of derivative financial instruments recorded in the consolidated balance sheets as of December 31, 2019 and 2018 are as follows: Asset Derivatives Liability Derivatives Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet Balance Sheet Location December 31, Balance Sheet Location December 31, December 31, (in millions) Derivatives designated as cash flow hedges: Commodity derivatives Other current assets $ 1 Accrued liabilities $ 3 Foreign currency derivatives* Other current assets 35 Other current assets 6 $ 29 Commodity derivatives Other long-term assets 2 Other long-term liabilities — Foreign currency derivatives* Other long-term assets 8 Other long-term assets 2 6 Total derivatives designated as hedges $ 46 $ 11 Derivatives not designated: Foreign currency derivatives* Accrued liabilities $ — Accrued liabilities $ 1 (1 ) Total derivatives not designated as hedges $ — $ 1 Asset Derivatives Liability Derivatives Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet Balance Sheet Location December 31, 2018 Balance Sheet Location December 31, 2018 December 31, 2018 (in millions) Derivatives designated as cash flow hedges: Commodity derivatives Other current assets $ — Accrued liabilities $ 15 Foreign currency derivatives* Other current assets 9 Other current assets 3 $ 6 Foreign currency derivatives* Accrued liabilities — Accrued liabilities 4 (4 ) Commodity derivatives Other long-term assets — Other long-term liabilities 7 Foreign currency derivatives* Other long-term assets 2 Other long-term assets — 2 Foreign currency derivatives* Other long-term liabilities — Other long-term liabilities 2 (2 ) Total derivatives designated as hedges $ 11 $ 31 * Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts. The fair value of Aptiv’s derivative financial instruments was in a net asset position as of December 31, 2019 and a net net liability as of December 31, 2018 . Effect of Derivatives on the Statement of Operations and Statement of Comprehensive Income The pre-tax effect of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the year ended December 31, 2019 is as follows: Year Ended December 31, 2019 Gain (Loss) Recognized in OCI (Loss) Gain Reclassified from OCI into Income (in millions) Derivatives designated as cash flow hedges: Commodity derivatives $ 7 $ (15 ) Foreign currency derivatives 44 9 Derivatives designated as net investment hedges: Foreign currency derivatives (1 ) — Total $ 50 $ (6 ) Gain Recognized in Income (in millions) Derivatives not designated: Foreign currency derivatives $ 1 Total $ 1 The pre-tax effect of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the year ended December 31, 2018 is as follows: Year Ended December 31, 2018 (Loss) Gain Recognized in OCI Gain (Loss) Reclassified from OCI into Income (in millions) Derivatives designated as cash flow hedges: Commodity derivatives $ (45 ) $ 14 Foreign currency derivatives 14 (14 ) Derivatives designated as net investment hedges: Foreign currency derivatives (2 ) — Total $ (33 ) $ — Gain Recognized in Income (in millions) Derivatives not designated: Foreign currency derivatives $ 2 Total $ 2 The pre-tax effect of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the year ended December 31, 2017 is as follows: Year Ended December 31, 2017 Gain (Loss) Recognized in OCI Gain (Loss) Reclassified from OCI into Income (in millions) Derivatives designated as cash flow hedges: Commodity derivatives $ 45 $ 18 Foreign currency derivatives 4 (27 ) Derivatives designated as net investment hedges: Foreign currency derivatives (34 ) 2 Total $ 15 $ (7 ) Loss Recognized in Income (in millions) Derivatives not designated: Foreign currency derivatives $ (5 ) Total $ (5 ) The gain or loss recognized in income for designated and non-designated derivative instruments was recorded to cost of sales and other income (expense), net in the consolidated statements of operations for the years ended December 31, 2019 , 2018 and 2017 . |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are based on one or more of the following three valuation techniques: Market —This approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Income —This approach uses valuation techniques to convert future amounts to a single present value amount based on current market expectations. Cost —This approach is based on the amount that would be required to replace the service capacity of an asset (replacement cost). Aptiv uses the following fair value hierarchy prescribed by GAAP, which prioritizes the inputs used to measure fair value as follows: Level 1 —Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Typically, assets and liabilities are considered to be fair valued on a recurring basis if fair value is measured regularly. However, if the fair value measurement of an instrument does not necessarily result in a change in the amount recorded on the consolidated balance sheets, assets and liabilities are considered to be fair valued on a nonrecurring basis. This generally occurs when accounting guidance requires assets and liabilities to be recorded at the lower of cost or fair value, or assessed for impairment. Fair Value Measurements on a Recurring Basis Derivative instruments —All derivative instruments are required to be reported on the balance sheet at fair value unless the transactions qualify and are designated as normal purchases or sales. Changes in fair value are reported currently through earnings unless they meet hedge accounting criteria. Aptiv’s derivative exposures are with counterparties with long-term investment grade credit ratings. Aptiv estimates the fair value of its derivative contracts using an income approach based on valuation techniques to convert future amounts to a single, discounted amount. Estimates of the fair value of foreign currency and commodity derivative instruments are determined using exchange traded prices and rates. Aptiv also considers the risk of non-performance in the estimation of fair value, and includes an adjustment for non-performance risk in the measure of fair value of derivative instruments. The non-performance risk adjustment reflects the credit default spread (“CDS”) applied to the net commodity by counterparty and foreign currency exposures by counterparty. When Aptiv is in a net derivative asset position, the counterparty CDS rates are applied to the net derivative asset position. When Aptiv is in a net derivative liability position, estimates of peer companies’ CDS rates are applied to the net derivative liability position. In certain instances where market data is not available, Aptiv uses management judgment to develop assumptions that are used to determine fair value. This could include situations of market illiquidity for a particular currency or commodity or where observable market data may be limited. In those situations, Aptiv generally surveys investment banks and/or brokers and utilizes the surveyed prices and rates in estimating fair value. As of December 31, 2019 and 2018 , Aptiv was in a net derivative asset position of $34 million and a net derivative liability position of $20 million , respectively, and no significant adjustments were recorded for nonperformance risk based on the application of peer companies’ CDS rates, evaluation of our own nonperformance risk and because Aptiv’s exposures were to counterparties with investment grade credit ratings. Refer to Note 17. Derivatives and Hedging Activities for further information regarding derivatives. Contingent consideration —The liability for contingent consideration is estimated as of the date of the acquisition and is recorded as part of the purchase price, and is subsequently re-measured to fair value at each reporting date based on a probability-weighted analysis using a rate that reflects the uncertainty surrounding the expected outcomes, which the Company believes is appropriate and representative of market participant assumptions. The measurement of the liability for contingent consideration is based on significant inputs that are not observable in the market, and is therefore classified as a Level 3 measurement in accordance with ASC Topic 820-10-35. Examples of utilized unobservable inputs are estimated future earnings or milestone achievements of the acquired businesses and applicable discount rates. The estimate of the liability may fluctuate if there are changes in the actual or forecasted inputs utilized or in the discount rates used to determine the present value of contingent future cash flows. The Company regularly reviews these assumptions, and makes adjustments to the fair value measurements as required by facts and circumstances. As of December 31, 2019 , the Company has determined that all earn-out provisions under the nuTonomy acquisition agreement have been achieved. As of December 31, 2019 and 2018 , the liability for contingent consideration was $51 million (of which $16 million was classified within other current liabilities and $35 million was classified within other long-term liabilities) and $49 million (of which $16 million was classified within other current liabilities and $33 million was classified within other long-term liabilities), respectively, representing the maximum required amounts to be paid under existing agreements. Adjustments to this liability for interest accretion are recognized in interest expense, and any other changes in the fair value of this liability are recognized within other income (expense), net in the consolidated statements of operations. The changes in the contingent consideration liability classified as a Level 3 measurement for the years ended December 31, 2019 and 2018 were as follows: Year Ended December 31, 2019 2018 (in millions) Fair value at beginning of year $ 49 $ 33 Payments — (7 ) Interest accretion 2 — Measurement adjustments — 23 Fair value at end of year $ 51 $ 49 During the year ended December 31, 2019, the Company was required to deposit $16 million related to the contingent consideration liability into an escrow account in accordance with existing agreements. Accordingly, this amount is classified as restricted cash in the consolidated balance sheets as of December 31, 2019. The remaining portions of the contingent consideration liability are required to be deposited into the escrow account in the first quarters of 2020 and 2021, respectively, and all amounts are anticipated to be released from the escrow account in the fourth quarter of 2021. During the year ended December 31, 2018, Aptiv paid $7 million of contingent consideration and recorded net increases to its contingent consideration liabilities of $23 million based on the actual level of earnings or achievement of certain milestones and the forecasted future earnings or milestone achievements of the acquired businesses during the contractual earn-out period. As of December 31, 2019 and 2018 , Aptiv had the following assets measured at fair value on a recurring basis: Total Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 (in millions) As of December 31, 2019 Commodity derivatives $ 3 $ — $ 3 $ — Foreign currency derivatives 35 — 35 — Total $ 38 $ — $ 38 $ — As of December 31, 2018 Foreign currency derivatives $ 8 $ — $ 8 $ — Total $ 8 $ — $ 8 $ — As of December 31, 2019 and 2018 , Aptiv had the following liabilities measured at fair value on a recurring basis: Total Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 (in millions) As of December 31, 2019 Commodity derivatives $ 3 $ — $ 3 $ — Foreign currency derivatives 1 — 1 — Contingent consideration 51 — — 51 Total $ 55 $ — $ 4 $ 51 As of December 31, 2018 Commodity derivatives $ 22 $ — $ 22 $ — Foreign currency derivatives 6 — 6 — Contingent consideration 49 — — 49 Total $ 77 $ — $ 28 $ 49 Non-derivative financial instruments —Aptiv’s non-derivative financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable, as well as debt, which consists of its accounts receivable factoring arrangement, finance leases and other debt issued by Aptiv’s non-U.S. subsidiaries, the Revolving Credit Facility, the Tranche A Term Loan and all series of outstanding senior notes. The fair value of debt is based on quoted market prices for instruments with public market data or significant other observable inputs for instruments without a quoted public market price (Level 2). As of December 31, 2019 and 2018 , total debt was recorded at $4,364 million and $4,344 million , respectively, and had estimated fair values of $4,593 million and $4,222 million , respectively. For all other financial instruments recorded as of December 31, 2019 and 2018 , fair value approximates book value. Fair Value Measurements on a Nonrecurring Basis In addition to items that are measured at fair value on a recurring basis, Aptiv also has items in its balance sheet that are measured at fair value on a nonrecurring basis. As these items are not measured at fair value on a recurring basis, they are not included in the tables above. Nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis include certain long-lived assets, equity investments, intangible assets, asset retirement obligations, share-based compensation and liabilities for exit or disposal activities measured at fair value upon initial recognition. During the years ended December 31, 2019 , 2018 and 2017 , Aptiv recorded non-cash asset impairment charges totaling $3 million , $4 million and $9 million , respectively, within cost of sales related to declines in the fair values of certain fixed assets. During the years ended December 31, 2019 and 2018 , Aptiv recorded non-cash asset impairment charges totaling $8 million and $30 million , respectively, within amortization related to declines in the fair values of certain intangible assets. Fair value of long-lived and intangible assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of appraisals or other market indicators and management estimates. As such, Aptiv has determined that the fair value measurements of long-lived and intangible assets fall in Level 3 of the fair value hierarchy. |
Other Income, Net
Other Income, Net | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Other Income, Net | OTHER INCOME, NET Other income (expense), net included: Year Ended December 31, 2019 2018 2017 (in millions) Interest income $ 13 $ 21 $ 7 Loss on extinguishment of debt (6 ) — — Components of net periodic benefit cost other than service cost (27 ) (18 ) (32 ) Reserve for Unsecured Creditors litigation — — (10 ) Costs associated with acquisitions (5 ) (14 ) (8 ) Change in fair value of equity investments (Note 5) 19 — — Contingent consideration liability fair value adjustment — (23 ) 14 Other, net 20 36 8 Other income (expense), net $ 14 $ 2 $ (21 ) As further discussed in Note 5. Investments in Affiliates, during the year ended December 31, 2019 , Aptiv recorded a pre-tax unrealized gain of $19 million related to increases in fair value of its equity investments without readily determinable fair values. Also, as further discussed in Note 11. Debt, during the year ended December 31, 2019 , Aptiv redeemed for cash the entire $650 million aggregate principal amount outstanding of the 3.15% Senior Notes, resulting in a loss on debt extinguishment of approximately $6 million . Aptiv also incurred approximately $5 million in transaction costs related to the acquisition of gabocom. During the year ended December 31, 2018 , Aptiv incurred approximately $18 million in transaction costs related to the acquisitions of KUM and Winchester and, as further discussed in Note 17. Derivatives and Hedging Activities, recorded a gain of $4 million on forward contracts entered into in order to hedge portions of the currency risk associated with the cash payment for the acquisition of KUM, which are reflected within costs associated with acquisitions in the above table. Additionally, as further discussed in Note 25. Discontinued Operations and Held For Sale, during the year ended December 31, 2018 , Aptiv recorded $11 million for certain fees earned pursuant to the transition services agreement in connection with the Separation of the Company’s former Powertrain Systems segment. As further discussed in Note 13. Commitments and Contingencies, during the year ended December 31, 2017 , Aptiv and the plaintiffs reached an agreement to settle the Unsecured Creditors litigation for $310 million , which was subsequently approved by the Bankruptcy Court. In July 2017, the Company paid the $310 million settlement pursuant to the terms of the settlement agreement. In accordance with the terms of the settlement agreement, the Company recorded a net incremental charge of $10 million to its previously recorded reserve of $300 million to other expense, net during the year ended December 31, 2017. Also during the year ended December 31, 2017, Aptiv incurred approximately $8 million in transaction costs related to the acquisition of nuTonomy. |
Acquisitions And Divestitures
Acquisitions And Divestitures | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures | ACQUISITIONS AND DIVESTITURES Acquisition of gabo Systemtechnik GmbH On November 19, 2019 , Aptiv acquired 100% of the equity interests of gabo Systemtechnik GmbH (“gabocom”), a leading provider of highly-engineered cable management and protection solutions for the telecommunications industry, for total consideration of $311 million , net of cash acquired. The results of operations of gabocom are reported within the Signal and Power Solutions segment from the date of acquisition. The Company acquired gabocom utilizing cash on hand. The acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary basis using information available, in the fourth quarter of 2019. The preliminary purchase price and related allocation to the acquired net assets of gabocom based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 311 Property, plant and equipment $ 25 Intangible assets 75 Other liabilities, net (11 ) Identifiable net assets acquired 89 Goodwill resulting from purchase 222 Total purchase price allocation $ 311 Intangible assets include $66 million recognized for the fair value of customer-based assets with estimated useful lives of approximately 9 years and $9 million recognized for the fair value of the acquired trade name, which has an estimated useful life of approximately 15 years. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce of gabocom, and is not deductible for tax purposes. The purchase price and related allocation are preliminary and could be revised as a result of adjustments made to the purchase price, additional information obtained regarding liabilities assumed, including, but not limited to, contingent liabilities, revisions of provisional estimates of fair values, including, but not limited to, the completion of independent appraisals and valuations related to property, plant and equipment and intangible assets, and certain tax attributes. The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented. Acquisition of Falmat Inc. On May 14, 2019 , Aptiv acquired 100% of the equity interests of Falmat Inc. (“Falmat”), a leading manufacturer of high performance custom cable and cable assemblies for industrial applications, for total consideration of $25 million , net of cash acquired. The results of operations of Falmat are reported within the Signal and Power Solutions segment from the date of acquisition. The Company acquired Falmat utilizing cash on hand. The acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary basis using information available, in the second quarter of 2019. The preliminary purchase price and related allocation to the acquired net assets of Falmat based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 25 Intangible assets $ 12 Other assets, net 6 Identifiable net assets acquired 18 Goodwill resulting from purchase 7 Total purchase price allocation $ 25 Intangible assets primarily include amounts recognized for the fair value of customer-based assets, which will be amortized over their estimated useful lives of approximately 9 years. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce of Falmat, and is not deductible for tax purposes. The purchase price and related allocation are preliminary and could be revised as a result of adjustments made to the purchase price, additional information obtained regarding liabilities assumed, including, but not limited to, contingent liabilities, revisions of provisional estimates of fair values, including, but not limited to, the completion of independent appraisals and valuations related to property, plant and equipment and intangible assets, and certain tax attributes. The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented. Acquisition of Winchester Interconnect On October 24, 2018 , Aptiv acquired 100% of the equity interests of Winchester Interconnect (“Winchester”), a leading provider of custom engineered interconnect solutions for harsh environment applications, for total consideration of $680 million , net of cash acquired. The results of operations of Winchester are reported within the Signal and Power Solutions segment from the date of acquisition. The Company acquired Winchester utilizing cash on hand and short-term borrowings. The acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary basis using information available, in the fourth quarter of 2018. The purchase price and related allocation were finalized in the fourth quarter of 2019, and resulted in minor adjustments from the amounts previously disclosed. These adjustments were not significant for any period presented after the acquisition date. The final purchase price and related allocation to the acquired net assets of Winchester based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 680 Property, plant and equipment $ 31 Intangible assets 226 Other assets, net 21 Identifiable net assets acquired 278 Goodwill resulting from purchase 402 Total purchase price allocation $ 680 Intangible assets include $180 million recognized for the fair value of customer-based assets with estimated useful lives of approximately 9 years, $9 million of technology-related assets with estimated useful lives of approximately 5 years and $37 million recognized for the fair value of the acquired trade name, which has an indefinite useful life. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce of Winchester, and is not deductible for tax purposes. The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented. Acquisition of KUM On June 14, 2018 , Aptiv acquired 100% of the equity interests of KUM, a specialized manufacturer of connectors for the automotive industry, for total consideration of $526 million , net of cash acquired. The results of operations of KUM are reported within the Signal and Power Solutions segment from the date of acquisition. The Company acquired KUM utilizing cash on hand. The acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary basis using information available, in the second quarter of 2018. The purchase price and related allocation were finalized in the second quarter of 2019, and resulted in minor adjustments from the amounts previously disclosed. These adjustments were not significant for any period presented after the acquisition date. The final purchase price and related allocation to the acquired net assets of KUM based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 515 Debt and pension liabilities assumed 11 Total consideration, net of cash acquired $ 526 Property, plant and equipment $ 121 Intangible assets 110 Other assets, net 34 Identifiable net assets acquired 265 Goodwill resulting from purchase 261 Total purchase price allocation $ 526 Intangible assets primarily include amounts recognized for the fair value of customer-based assets, which will be amortized over their estimated useful lives of approximately 9 years. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce of KUM, and is not deductible for tax purposes. The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented. Acquisition of nuTonomy On November 21, 2017 , Aptiv acquired 100% of the equity interests of nuTonomy, Inc. (“nuTonomy”), a leading provider of autonomous driving software and technology, for total consideration of up to $454 million . Of the total consideration, $284 million of the purchase price was paid at closing, subject to certain post-closing adjustments. An additional $109 million of the purchase price will vest to certain selling shareholders in annual installments over a three -year period from the acquisition date, subject to such shareholders’ compliance with certain employment conditions. Of the $109 million , approximately $7 million was payable after one year and approximately $51 million is payable after each of the second and third years following the acquisition date. These remaining installments will be recorded as a component of cost of sales ratably over the respective installment period. Additionally, the total consideration includes a cash payment of up to $54 million contingent upon the achievement of certain performance metrics over a future three-year period. The range of the undiscounted amounts the Company could be required to pay under this arrangement is between $0 and $54 million . As of the closing date of the acquisition, the contingent consideration was assigned a fair value of approximately $24 million . Refer to Note 18. Fair Value of Financial Instruments for additional information regarding the measurement of the contingent consideration liability. The results of operations of nuTonomy are reported within the Advanced Safety and User Experience segment from the date of acquisition. The Company acquired nuTonomy utilizing cash on hand. The acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary basis using information available, in the fourth quarter of 2017. The purchase price and related allocation were finalized in the fourth quarter of 2018, and resulted in minor adjustments from the amounts previously disclosed. These adjustments were not significant for any period presented after the acquisition date. The final purchase price and related allocation to the acquired net assets of nuTonomy based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 284 Purchase price, fair value of contingent consideration 24 Total purchase price, net of cash acquired $ 308 Intangible assets $ 102 Other liabilities, net (35 ) Identifiable net assets acquired 67 Goodwill resulting from purchase 241 Total purchase price allocation $ 308 Intangible assets include $102 million of in-process research and development, which will not be amortized, but tested for impairment until the completion or abandonment of the associated research and development efforts. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition from future growth and potential commercialization opportunities, and is not deductible for tax purposes. The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented. Acquisition of Movimento Group On January 3, 2017 , Aptiv acquired 100% of the equity interests of Movimento Group (“Movimento”), a leading provider of Over-the-Air software and data management for the automotive sector, for a purchase price of $40 million at closing and an additional cash payment of up to $10 million contingent upon the achievement of certain performance metrics over a future 2 -year period. The range of the undiscounted amounts the Company could be required to pay under this arrangement is between $0 and $10 million . As of the closing date of the acquisition, the contingent consideration was assigned a fair value of approximately $8 million . Refer to Note 18. Fair Value of Financial Instruments for additional information regarding the measurement of the contingent consideration liability. The results of operations of Movimento are reported within the Advanced Safety and User Experience segment from the date of acquisition. The Company acquired Movimento utilizing cash on hand. The acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary basis using information available, in the first quarter of 2017. The purchase price and related allocation were finalized in the first quarter of 2018, and resulted in no adjustments from the amounts previously disclosed. The final purchase price and related allocation to the acquired net assets of Movimento based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 40 Purchase price, fair value of contingent consideration 8 Total purchase price, net of cash acquired $ 48 Intangible assets $ 22 Other liabilities, net (2 ) Identifiable net assets acquired 20 Goodwill resulting from purchase 28 Total purchase price allocation $ 48 Intangible assets include $8 million recognized for the fair value of the acquired trade name, which has an estimated useful life of approximately 25 years, $4 million of customer-based and technology-related assets with estimated useful lives of approximately 7 years and $10 million of in-process research and development, which will not be amortized, but tested for impairment until the completion or abandonment of the associated research and development efforts. The estimated fair value of these assets was based on third-party valuations and management’s estimates, generally utilizing income and market approaches. The pro forma effects of this acquisition would not materially impact the Company’s reported results for any period presented, and as a result no pro forma financial statements were presented. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-Based Compensation | SHARE-BASED COMPENSATION Long Term Incentive Plan The PLC LTIP allows for the grant of awards of up to 25,665,448 ordinary shares for long-term compensation. The PLC LTIP is designed to align the interests of management and shareholders. The awards can be in the form of shares, options, stock appreciation rights, restricted stock, RSUs, performance awards, and other share-based awards to the employees, directors, consultants and advisors of the Company. The Company has awarded annual long-term grants of RSUs under the PLC LTIP in each year from 2012 to 2019 in order to align management compensation with Aptiv’s overall business strategy. The Company has competitive and market-appropriate ownership requirements. All of the RSUs granted under the PLC LTIP are eligible to receive dividend equivalents for any dividend paid from the grant date through the vesting date. Dividend equivalents are generally paid out in ordinary shares upon vesting of the underlying RSUs. Historical amounts disclosed within this note include amounts attributable to the Company’s discontinued operations, unless otherwise noted, and for activity prior to December 4, 2017 represent awards based on shares of Delphi Automotive PLC. In connection with the Separation, in 2017 the Company made adjustments to the number of unvested RSUs with the intention of preserving the intrinsic value of the recipient’s awards prior to the Separation. Accordingly, the number of RSUs underlying each unvested award outstanding as of the date of the Separation was multiplied by a factor of 1.17 , and the related grant date fair value was divided by a factor of 1.17 , which resulted in no increase in the intrinsic value of awards outstanding. The RSUs continue to vest in accordance with their original vesting period. These adjustments to the Company’s share-based compensation awards did not result in additional compensation expense. RSUs that were held by employees who transferred to Delphi Technologies in connection with the Separation were canceled and replaced by awards issued by Delphi Technologies. Employees remaining with the Company did not receive share-based compensation awards of Delphi Technologies as a result of the spin-off. Except for the conversion of awards, the material terms of the awards remained unchanged. Board of Director Awards On April 28, 2016, Aptiv granted 27,238 RSUs to the Board of Directors at a grant date fair value of approximately $2 million . The grant date fair value was determined based on the closing price of the Company’s ordinary shares on April 28, 2016. The RSUs vested on April 26, 2017, and 26,580 ordinary shares, which included shares issued in connection with dividend equivalents, were issued to members of the Board of Directors at a fair value of approximately $2 million . 3,472 ordinary shares were withheld to cover U.K. withholding taxes. On April 27, 2017, Aptiv granted 26,782 RSUs to the Board of Directors at a grant date fair value of approximately $2 million . The grant date fair value was determined based on the closing price of the Company’s ordinary shares on April 27, 2017. The RSUs vested on April 25, 2018, and 24,642 ordinary shares, which included shares issued in connection with dividend equivalents, were issued to members of the Board of Directors at a fair value of approximately $2 million . 2,649 ordinary shares were withheld to cover withholding taxes. On April 26, 2018, Aptiv granted 22,676 RSUs to the Board of Directors at a grant date fair value of approximately $2 million . The grant date fair value was determined based on the closing price of the Company’s ordinary shares on April 26, 2018. The RSUs vested on April 24, 2019, and 23,999 ordinary shares, which included shares issued in connection with dividend equivalents, were issued to members of the Board of Directors at a fair value of approximately $2 million . 3,228 ordinary shares were withheld to cover withholding taxes. On April 25, 2019, Aptiv granted 20,765 RSUs to the Board of Directors at a grant date fair value of approximately $2 million . The grant date fair value was determined based on the closing price of the Company’s ordinary shares on April 25, 2019. The RSUs will vest on April 22, 2020, the day before the 2020 Annual General Meeting of Shareholders. Executive Awards Aptiv has made annual grants of RSUs to its executives in February of each year beginning in 2012. These awards include a time-based vesting portion and a performance-based vesting portion, as well as continuity awards in certain years. The time-based RSUs, which make up 25% of the awards for Aptiv’s officers and 50% for Aptiv’s other executives, vest ratably over three years beginning on the first anniversary of the grant date. The performance-based RSUs, which make up 75% of the awards for Aptiv’s officers and 50% for Aptiv’s other executives, vest at the completion of a three-year performance period if certain targets are met. Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics, which are: Metric 2016 - 2019 Grants 2015 Grant Average return on net assets (1) 50% 50% Cumulative net income 25% N/A Cumulative earnings per share (2) N/A 30% Relative total shareholder return (3) 25% 20% (1) Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period. (2) Cumulative earnings per share is measured by net income attributable to Aptiv divided by the weighted average number of diluted shares outstanding for the respective three-year performance period. (3) Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies. The details of the executive grants were as follows: Grant Date RSUs Granted Grant Date Fair Value Time-Based Award Vesting Dates Performance-Based Award Vesting Date (in millions) February 2015 0.90 $ 76 Annually on anniversary of grant date, 2016 - 2018 December 31, 2017 February 2016 0.71 48 Annually on anniversary of grant date, 2017 - 2019 December 31, 2018 February 2017 0.80 63 Annually on anniversary of grant date, 2018 - 2020 December 31, 2019 February 2018 0.63 61 Annually on anniversary of grant date, 2019 - 2021 December 31, 2020 February 2019 0.71 62 Annually on anniversary of grant date, 2020 - 2022 December 31, 2021 The grant date fair value of the RSUs is determined based on the target number of awards issued, the closing price of the Company’s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, and a contemporaneous valuation performed by an independent valuation specialist with respect to the relative total shareholder return awards. Any new executives hired after the annual executive RSU grant date may be eligible to participate in the PLC LTIP. The Company has also granted additional awards to employees in certain periods under the PLC LTIP. Any off cycle grants made for new hires or to other employees are valued at their grant date fair value based on the closing price of the Company’s ordinary shares on the date of such grant. In February 2017, under the time-based vesting terms of the outstanding awards, 248,008 ordinary shares were issued to Aptiv employees at a fair value of approximately $19 million , of which 88,807 ordinary shares were withheld to cover withholding taxes. The performance-based RSUs associated with the 2014 grant vested at the completion of a three-year performance period on December 31, 2016, and in the first quarter of 2017, 797,210 ordinary shares were issued to employees at a fair value of approximately $60 million , of which 324,555 ordinary shares were withheld to cover withholding taxes. In February 2018, under the time-based vesting terms of the outstanding awards, 285,344 ordinary shares were issued to Aptiv employees at a fair value of approximately $26 million , of which 102,045 ordinary shares were withheld to cover withholding taxes. The performance-based RSUs associated with the 2015 grant vested at the completion of a three-year performance period on December 31, 2017, and in the first quarter of 2018, 640,239 ordinary shares were issued to employees at a fair value of approximately $59 million , of which 240,483 ordinary shares were withheld to cover withholding taxes. In February 2019, under the time-based vesting terms of the outstanding awards, 529,812 ordinary shares were issued to Aptiv employees at a fair value of approximately $44 million , of which 203,839 ordinary shares were withheld to cover withholding taxes. The performance-based RSUs associated with the 2016 grant, and applicable continuity awards, vested at the completion of a three-year performance period on December 31, 2018, and in the first quarter of 2019, 493,674 ordinary shares were issued to employees at a fair value of approximately $41 million , of which 199,547 ordinary shares were withheld to cover withholding taxes. A summary of RSU activity, including award grants, vesting and forfeitures is provided below. For periods prior to the Separation, RSU activity and the corresponding weighted average grant date fair value is presented based on the awards of Delphi Automotive PLC RSUs. RSUs Weighted Average Grant Date Fair Value (in thousands) Nonvested, January 1, 2017 1,740 $ 76.54 Granted 1,245 82.02 Vested (980 ) 73.01 Forfeited (195 ) 76.18 Adjustment due to Delphi Technologies Separation (1) (3 ) Nonvested, December 31, 2017 (2) 1,807 68.66 Granted 1,242 87.08 Vested (968 ) 65.83 Forfeited (202 ) 77.64 Nonvested, December 31, 2018 1,879 81.24 Granted 1,363 83.93 Vested (1,131 ) 70.78 Forfeited (289 ) 83.97 Nonvested, December 31, 2019 1,822 89.32 (1) Reflects the cancellation of awards outstanding as of the Distribution Date held by Delphi Technologies employees, which were converted to Delphi Technologies RSUs as part of the Separation, and the conversion of unvested RSUs for Aptiv employees in accordance with the conversion factor described above. (2) Nonvested RSUs and the corresponding weighted average grant date fair value as of December 31, 2017 presented on an Aptiv basis using the conversion factor described above in connection with the Separation. As of December 31, 2019 , there were approximately 577,000 Aptiv performance-based RSUs, with a weighted average grant date fair value of $70.77 , that were vested but not yet distributed. Aptiv recognized compensation expense from continuing operations of $66 million ( $65 million , net of tax), $58 million ( $57 million , net of tax) and $62 million ( $56 million net of tax) based on the Company’s best estimate of ultimate performance against the respective targets during the years ended December 31, 2019 , 2018 and 2017 , respectively. Aptiv will continue to recognize compensation expense, based on the grant date fair value of the awards applied to the Company’s best estimate of ultimate performance against the respective targets, over the requisite vesting periods of the awards. Based on the grant date fair value of the awards and the Company’s best estimate of ultimate performance against the respective targets as of December 31, 2019 , unrecognized compensation expense on a pre-tax basis of approximately $91 million is anticipated to be recognized over a weighted average period of approximately 2 years. For the years ended December 31, 2019 , 2018 and 2017 , respectively, approximately $34 million , $35 million and $33 million of cash was paid and reflected as a financing activity in the statements of cash flows related to the tax withholding for vested RSUs. |
Supplemental Guarantor And Non-
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements [Abstract] | |
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements | SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Basis of Presentation Notes Issued by the Subsidiary Issuer As described in Note 11. Debt, Aptiv Corporation (the “Subsidiary Issuer/Guarantor”), a 100% owned subsidiary of Aptiv PLC (the “Parent”), issued the 2014 Senior Notes, which were registered under the Securities Act, and is the borrower of obligations under the Credit Agreement. The 2014 Senior Notes and obligations under the Credit Agreement are fully and unconditionally guaranteed by Aptiv PLC and certain of Aptiv PLC’s direct and indirect subsidiary companies, which are directly or indirectly 100% owned by Aptiv PLC (the “Subsidiary Guarantors”), on a joint and several basis, subject to customary release provisions (other than in the case of Aptiv PLC). All other consolidated direct and indirect subsidiaries of Aptiv PLC (“Non-Guarantor Subsidiaries”) are not subject to the guarantees. Notes Issued by the Parent As described in Note 11. Debt, Aptiv PLC issued the 2015 Euro-denominated Senior Notes, the 3.15% Senior Notes, the 4.25% Senior Notes, the 2016 Euro-denominated Senior Notes, the 2016 Senior Notes and the 2019 Senior Notes, each of which were registered under the Securities Act. The 3.15% Senior Notes were subsequently redeemed and extinguished in March 2019. Each series of these senior notes are, and prior to their redemption, the 3.15% Senior Notes were, fully and unconditionally guaranteed on a joint and several basis, subject to customary release provisions, by certain of Aptiv PLC’s direct and indirect subsidiary companies (the “Subsidiary Guarantors”), and Aptiv Corporation, each of which are directly or indirectly 100% owned by Aptiv PLC. All other Non-Guarantor Subsidiaries are not subject to the guarantees. In lieu of providing separate audited financial statements for the Guarantors, the Company has included the accompanying condensed consolidating financial statements. These condensed consolidating financial statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiary’s cumulative results of operations, capital contributions and distributions and other equity changes. The Non-Guarantor Subsidiaries are combined in the condensed consolidating financial statements. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions. The historical presentation of the supplemental guarantor and non-guarantor condensed consolidating financial statements have been revised to be consistent with the presentation of the entities that comprise the structure of the Subsidiary Guarantors as of December 31, 2019. Statement of Operations for the Year Ended December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net sales $ — $ — $ — $ 14,357 $ — $ 14,357 Operating expenses: Cost of sales — — — 11,711 — 11,711 Selling, general and administrative 4 — — 1,072 — 1,076 Amortization — — — 146 — 146 Restructuring — — — 148 — 148 Total operating expenses 4 — — 13,077 — 13,081 Operating (loss) income (4 ) — — 1,280 — 1,276 Interest (expense) income (129 ) (181 ) (134 ) (30 ) 310 (164 ) Other (expense) income, net (6 ) 1 39 290 (310 ) 14 (Loss) income from continuing operations before income taxes and equity income (139 ) (180 ) (95 ) 1,540 — 1,126 Income tax benefit (expense) 6 12 22 (172 ) — (132 ) (Loss) income from continuing operations before equity income (133 ) (168 ) (73 ) 1,368 — 994 Equity in net income of affiliates — — — 15 — 15 Equity in net income (loss) of subsidiaries 1,123 942 138 — (2,203 ) — Income (loss) from continuing operations 990 774 65 1,383 (2,203 ) 1,009 Income from discontinued operations, net of tax — — — — — — Net income (loss) 990 774 65 1,383 (2,203 ) 1,009 Net income attributable to noncontrolling interest — — — 19 — 19 Net income (loss) attributable to Aptiv $ 990 $ 774 $ 65 $ 1,364 $ (2,203 ) $ 990 Statement of Operations for the Year Ended December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net sales $ — $ — $ — $ 14,435 $ — $ 14,435 Operating expenses: Cost of sales — — — 11,706 — 11,706 Selling, general and administrative 27 — — 966 — 993 Amortization — — — 154 — 154 Restructuring — — — 109 — 109 Total operating expenses 27 — — 12,935 — 12,962 Operating (loss) income (27 ) — — 1,500 — 1,473 Interest (expense) income (141 ) (147 ) (200 ) (25 ) 372 (141 ) Other income (expense), net — 1 80 293 (372 ) 2 (Loss) income from continuing operations before income taxes and equity income (168 ) (146 ) (120 ) 1,768 — 1,334 Income tax benefit (expense) — — 27 (277 ) — (250 ) (Loss) income from continuing operations before equity income (168 ) (146 ) (93 ) 1,491 — 1,084 Equity in net income of affiliates — — — 23 — 23 Equity in net income (loss) of subsidiaries 1,235 1,246 41 — (2,522 ) — Income (loss) from continuing operations 1,067 1,100 (52 ) 1,514 (2,522 ) 1,107 Income from discontinued operations, net of tax — — — — — — Net income (loss) 1,067 1,100 (52 ) 1,514 (2,522 ) 1,107 Net income attributable to noncontrolling interest — — — 40 — 40 Net income (loss) attributable to Aptiv $ 1,067 $ 1,100 $ (52 ) $ 1,474 $ (2,522 ) $ 1,067 Statement of Operations for the Year Ended December 31, 2017 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net sales $ — $ — $ — $ 12,884 $ — $ 12,884 Operating expenses: Cost of sales — — — 10,270 — 10,270 Selling, general and administrative 137 — — 815 — 952 Amortization — — — 117 — 117 Restructuring — — — 129 — 129 Total operating expenses 137 — — 11,331 — 11,468 Operating (loss) income (137 ) — — 1,553 — 1,416 Interest (expense) income (255 ) (24 ) (174 ) (11 ) 324 (140 ) Other income (expense), net — 144 13 146 (324 ) (21 ) (Loss) income from continuing operations before income taxes and equity income (392 ) 120 (161 ) 1,688 — 1,255 Income tax benefit (expense) — — 59 (282 ) — (223 ) (Loss) income from continuing operations before equity income (392 ) 120 (102 ) 1,406 — 1,032 Equity in net income of affiliates — — — 31 — 31 Equity in net income (loss) of subsidiaries 1,747 1,629 62 — (3,438 ) — Income (loss) from continuing operations 1,355 1,749 (40 ) 1,437 (3,438 ) 1,063 Income from discontinued operations, net of tax — — — 365 — 365 Net income (loss) 1,355 1,749 (40 ) 1,802 (3,438 ) 1,428 Net income attributable to noncontrolling interest — — — 73 — 73 Net income (loss) attributable to Aptiv $ 1,355 $ 1,749 $ (40 ) $ 1,729 $ (3,438 ) $ 1,355 Statement of Comprehensive Income for the Year Ended December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net income (loss) $ 990 $ 774 $ 65 $ 1,383 $ (2,203 ) $ 1,009 Other comprehensive income (loss): Currency translation adjustments 29 — — (74 ) — (45 ) Net change in unrecognized gain on derivative instruments, net of tax — — — 56 — 56 Employee benefit plans adjustment, net of tax — — — (30 ) — (30 ) Other comprehensive income (loss) 29 — — (48 ) — (19 ) Equity in other comprehensive (loss) income of subsidiaries (45 ) 20 17 — 8 — Comprehensive income (loss) 974 794 82 1,335 (2,195 ) 990 Comprehensive income attributable to noncontrolling interests — — — 16 — 16 Comprehensive income (loss) attributable to Aptiv $ 974 $ 794 $ 82 $ 1,319 $ (2,195 ) $ 974 Statement of Comprehensive Income for the Year Ended December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net income (loss) $ 1,067 $ 1,100 $ (52 ) $ 1,514 $ (2,522 ) $ 1,107 Other comprehensive income (loss): Currency translation adjustments 67 — — (261 ) — (194 ) Net change in unrecognized loss on derivative instruments, net of tax — — — (39 ) — (39 ) Employee benefit plans adjustment, net of tax — — — 2 — 2 Other comprehensive income (loss) 67 — — (298 ) — (231 ) Equity in other comprehensive (loss) income of subsidiaries (290 ) (194 ) 25 — 459 — Comprehensive income (loss) 844 906 (27 ) 1,216 (2,063 ) 876 Comprehensive income attributable to noncontrolling interests — — — 32 — 32 Comprehensive income (loss) attributable to Aptiv $ 844 $ 906 $ (27 ) $ 1,184 $ (2,063 ) $ 844 Statement of Comprehensive Income for the Year Ended December 31, 2017 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net income (loss) $ 1,355 $ 1,749 $ (40 ) $ 1,802 $ (3,438 ) $ 1,428 Other comprehensive (loss) income: Currency translation adjustments (177 ) — — 492 — 315 Net change in unrecognized gain on derivative instruments, net of tax — — — 15 — 15 Employee benefit plans adjustment, net of tax — — — 11 — 11 Other comprehensive (loss) income (177 ) — — 518 — 341 Equity in other comprehensive income (loss) of subsidiaries 508 567 31 — (1,106 ) — Comprehensive income (loss) 1,686 2,316 (9 ) 2,320 (4,544 ) 1,769 Comprehensive income attributable to noncontrolling interests — — — 83 — 83 Comprehensive income (loss) attributable to Aptiv $ 1,686 $ 2,316 $ (9 ) $ 2,237 $ (4,544 ) $ 1,686 Balance Sheet as of December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ — $ 412 $ — $ 412 Restricted cash — — — 16 — 16 Accounts receivable, net — — — 2,569 — 2,569 Intercompany receivables, current 58 17 464 5,981 (6,520 ) — Inventories — — — 1,286 — 1,286 Other current assets — — — 504 — 504 Assets held for sale — — — 532 — 532 Total current assets 58 17 464 11,300 (6,520 ) 5,319 Long-term assets: Intercompany receivables, long-term — — 768 415 (1,183 ) — Property, net — — — 3,309 — 3,309 Operating lease right-of-use assets — — — 413 — 413 Investments in affiliates — — — 106 — 106 Investments in subsidiaries 8,452 9,145 1,758 — (19,355 ) — Intangible assets, net — — — 3,593 — 3,593 Other long-term assets 1 — 3 715 — 719 Total long-term assets 8,453 9,145 2,529 8,551 (20,538 ) 8,140 Total assets $ 8,511 $ 9,162 $ 2,993 $ 19,851 $ (27,058 ) $ 13,459 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt $ — $ — $ 120 $ 273 $ — $ 393 Accounts payable 3 — — 2,460 — 2,463 Intercompany payables, current 1,539 4,259 628 94 (6,520 ) — Accrued liabilities 38 — 9 1,108 — 1,155 Liabilities held for sale — — — 43 — 43 Total current liabilities 1,580 4,259 757 3,978 (6,520 ) 4,054 Long-term liabilities: Long-term debt 2,920 — 1,026 25 — 3,971 Intercompany payables, long-term — — 226 957 (1,183 ) — Pension benefit obligations — — — 483 — 483 Long-term operating lease liabilities — — — 329 — 329 Other long-term liabilities — — — 611 — 611 Total long-term liabilities 2,920 — 1,252 2,405 (1,183 ) 5,394 Total liabilities 4,500 4,259 2,009 6,383 (7,703 ) 9,448 Total Aptiv shareholders’ equity 4,011 4,903 984 13,276 (19,355 ) 3,819 Noncontrolling interest — — — 192 — 192 Total shareholders’ equity 4,011 4,903 984 13,468 (19,355 ) 4,011 Total liabilities and shareholders’ equity $ 8,511 $ 9,162 $ 2,993 $ 19,851 $ (27,058 ) $ 13,459 Balance Sheet as of December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ 1 $ — $ — $ 566 $ — $ 567 Restricted cash — — — 1 — 1 Accounts receivable, net — — — 2,487 — 2,487 Intercompany receivables, current 54 16 3,114 4,201 (7,385 ) — Inventories — — — 1,277 — 1,277 Other current assets — — — 445 — 445 Total current assets 55 16 3,114 8,977 (7,385 ) 4,777 Long-term assets: Intercompany receivables, long-term — — 768 1,424 (2,192 ) — Property, net — — — 3,179 — 3,179 Investments in affiliates — — — 99 — 99 Investments in subsidiaries 7,392 8,467 1,899 — (17,758 ) — Intangible assets, net — — — 3,904 — 3,904 Other long-term assets — — 6 515 — 521 Total long-term assets 7,392 8,467 2,673 9,121 (19,950 ) 7,703 Total assets $ 7,447 $ 8,483 $ 5,787 $ 18,098 $ (27,335 ) $ 12,480 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt $ — $ — $ 25 $ 281 $ — $ 306 Accounts payable 2 — — 2,332 — 2,334 Intercompany payables, current 791 4,479 2,115 — (7,385 ) — Accrued liabilities 31 — 11 1,012 — 1,054 Total current liabilities 824 4,479 2,151 3,625 (7,385 ) 3,694 Long-term liabilities: Long-term debt 2,953 — 1,055 30 — 4,038 Intercompany payables, long-term — — 1,296 896 (2,192 ) — Pension benefit obligations — — — 445 — 445 Other long-term liabilities — — — 633 — 633 Total long-term liabilities 2,953 — 2,351 2,004 (2,192 ) 5,116 Total liabilities 3,777 4,479 4,502 5,629 (9,577 ) 8,810 Total Aptiv shareholders’ equity 3,670 4,004 1,285 12,258 (17,758 ) 3,459 Noncontrolling interest — — — 211 — 211 Total shareholders’ equity 3,670 4,004 1,285 12,469 (17,758 ) 3,670 Total liabilities and shareholders’ equity $ 7,447 $ 8,483 $ 5,787 $ 18,098 $ (27,335 ) $ 12,480 Statement of Cash Flows for the Year Ended December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net cash (used in) provided by operating activities from continuing operations $ (50 ) $ — $ — $ 1,674 $ — $ 1,624 Net cash provided by operating activities from discontinued operations — — — — — — Net cash (used in) provided by operating activities (50 ) — — 1,674 — 1,624 Cash flows from investing activities: Capital expenditures — — — (781 ) — (781 ) Proceeds from sale of property / investments — — — 14 — 14 Cost of business acquisitions, net of cash acquired — — — (334 ) — (334 ) Cost of technology investments — — — (10 ) — (10 ) Loans to affiliates — — — (818 ) 818 — Repayments of loans from affiliates — — — 175 (175 ) — Net cash (used in) provided by investing activities from continuing operations — — — (1,754 ) 643 (1,111 ) Net cash used in investing activities from discontinued operations — — — — — — Net cash (used in) provided by investing activities — — — (1,754 ) 643 (1,111 ) Cash flows from financing activities: Net proceeds (repayments) under other short-term debt agreements — — 90 (10 ) — 80 Repayments under long-term debt agreements — — (25 ) — — (25 ) Repayment of senior notes (654 ) — — — — (654 ) Proceeds from issuance of senior notes, net of issuance costs 641 — — — — 641 Dividend payments of consolidated affiliates to minority shareholders — — — (11 ) — (11 ) Proceeds from borrowings from affiliates 708 — 110 — (818 ) — Payments on borrowings from affiliates — — (175 ) — 175 — Repurchase of ordinary shares (420 ) — — — — (420 ) Distribution of cash dividends (226 ) — — — — (226 ) Taxes withheld and paid on employees’ restricted share awards — — — (34 ) — (34 ) Net cash provided by (used in) financing activities 49 — — (55 ) (643 ) (649 ) Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash — — — (3 ) — (3 ) Decrease in cash, cash equivalents and restricted cash (1 ) — — (138 ) — (139 ) Cash, cash equivalents and restricted cash at beginning of year 1 — — 567 — 568 Cash, cash equivalents and restricted cash at end of year $ — $ — $ — $ 429 $ — $ 429 Statement of Cash Flows for the Year Ended December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net cash (used in) provided by operating activities from continuing operations $ (170 ) $ — $ — $ 1,810 $ — $ 1,640 Net cash used in operating activities from discontinued operations — — — (12 ) — (12 ) Net cash (used in) provided by operating activities (170 ) — — 1,798 — 1,628 Cash flows from investing activities: Capital expenditures — — — (846 ) — (846 ) Proceeds from sale of property / investments — — — 13 — 13 Cost of business acquisitions, net of cash acquired — — — (1,197 ) — (1,197 ) Cost of technology investments — — — (16 ) — (16 ) Return of investment from subsidiaries 5,879 4,971 — — (10,850 ) — Settlement of derivatives — — — (2 ) — (2 ) Loans to affiliates — — — (3,642 ) 3,642 — Repayments of loans from affiliates — — — 7,598 (7,598 ) — Investments in subsidiaries (100 ) — — — 100 — Net cash provided by (used in) investing activities from continuing operations 5,779 4,971 — 1,908 (14,706 ) (2,048 ) Net cash used in investing activities from discontinued operations — — — — — — Net cash provided by (used in) investing activities 5,779 4,971 — 1,908 (14,706 ) (2,048 ) Cash flows from financing activities: Net proceeds under other short-term debt agreements — — — 268 — 268 Repayments under long-term debt agreements — — (13 ) — — (13 ) Contingent consideration and deferred acquisition purchase price payments — — — (13 ) — (13 ) Dividend payments of consolidated affiliates to minority shareholders — — — (30 ) — (30 ) Proceeds from borrowings from affiliates 1,002 2,627 13 — (3,642 ) — Payments on borrowings from affiliates (5,879 ) (1,719 ) — — 7,598 — Investment from parent — — — 100 (100 ) — Dividends paid to affiliates — (5,879 ) — (4,971 ) 10,850 — Repurchase of ordinary shares (499 ) — — — — (499 ) Distribution of cash dividends (233 ) — — — — (233 ) Taxes withheld and paid on employees' restricted share awards — — — (35 ) — (35 ) Net cash (used in) provided by financing activities (5,609 ) (4,971 ) — (4,681 ) 14,706 (555 ) Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash — — — (54 ) — (54 ) Decrease in cash, cash equivalents and restricted cash — — — (1,029 ) — (1,029 ) Cash, cash equivalents and restricted cash at beginning of year 1 — — 1,596 — 1,597 Cash, cash equivalents and restricted cash at end of year $ 1 $ — $ — $ 567 $ — $ 568 Statement of Cash Flows for the Year Ended December 31, 2017 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net cash (used in) provided by operating activities from continuing operations $ (93 ) $ (184 ) $ — $ 1,383 $ — $ 1,106 Net cash provided by operating activities from discontinued operations — — — 362 — 362 Net cash (used in) provided by operating activities (93 ) (184 ) — 1,745 — 1,468 Cash flows from investing activities: Capital expenditures — — — (698 ) — (698 ) Proceeds from sale of property / investments — — — 7 — 7 Cost of business acquisitions, net of cash acquired — — — (324 ) — (324 ) Cost of technology investments — — — (50 ) — (50 ) Settlement of derivatives — — — (28 ) — (28 ) Loans to affiliates — (126 ) — (988 ) 1,114 — Repayments of loans from affiliates — — — 1,345 (1,345 ) — Net cash used in by investing activities from continuing operations — (126 ) — (736 ) (231 ) (1,093 ) Net cash used in investing activities from discontinued operations — — — (159 ) — (159 ) Net cash used in investing activities — (126 ) — (895 ) (231 ) (1,252 ) Cash flows from financing activities: Net repayments under other short-term debt agreements — — — (15 ) — (15 ) Repayments under long-term debt agreements — — (2 ) — — (2 ) Proceeds from issuance of senior notes, net of issuance costs — — — 796 — 796 Contingent consideration and deferred acquisition purchase price payments — — — (24 ) — (24 ) Dividend payments of consolidated affiliates to minority shareholders — — — (38 ) — (38 ) Proceeds from borrowings from affiliates 802 310 2 — (1,114 ) — Payments on borrowings from affiliates (1,345 ) — — — 1,345 — Repurchase of ordinary shares (383 ) — — — — (383 ) Distribution of cash dividends (310 ) — — — — (310 ) Dividend received from spin-off of Delphi Technologies 1,148 — — — — 1,148 Cash transferred from Delphi Technologies related to spin-off 180 — — — — 180 Cash transferred to Delphi Technologies related to spin-off — — — (863 ) — (863 ) Taxes withheld and paid on employees’ restricted share awards — — — (33 ) — (33 ) Net cash provided by (used in) financing activities 92 310 — (177 ) 231 456 Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash — — — 86 — 86 (Decrease) increase in cash, cash equivalents and restricted cash (1 ) — — 759 — 758 Cash, cash equivalents and restricted cash at beginning of year 2 — — 837 — 839 Cash, cash equivalents and restricted cash at end of year $ 1 $ — $ — $ 1,596 $ — $ 1,597 |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure | SEGMENT REPORTING Aptiv operates its core business along the following operating segments, which are grouped on the basis of similar product, market and operating factors: • Signal and Power Solutions, which includes complete electrical architecture and component products. • Advanced Safety and User Experience, which includes component and systems integration expertise in advanced safety, user experience and connectivity and security solutions, as well as advanced software development and autonomous driving technologies. • Eliminations and Other, which includes i) the elimination of inter-segment transactions, and ii) certain other expenses and income of a non-operating or strategic nature. The accounting policies of the segments are the same as those described in Note 2. Significant Accounting Policies, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for which Aptiv’s chief operating decision maker regularly reviews financial results to assess performance of, and make internal operating decisions about allocating resources to, the segments. Generally, Aptiv evaluates segment performance based on stand-alone segment net income before interest expense, other income (expense), net, income tax expense, equity income (loss), net of tax, income (loss) from discontinued operations, net of tax, restructuring, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures), asset impairments, gains (losses) on business divestitures and deferred compensation related to acquisitions (“Adjusted Operating Income”) and accounts for inter-segment sales and transfers as if the sales or transfers were to third parties, at current market prices. Aptiv’s management utilizes Adjusted Operating Income as the key performance measure of segment income or loss to evaluate segment performance, and for planning and forecasting purposes to allocate resources to the segments, as management believes this measure is most reflective of the operational profitability or loss of Aptiv’s operating segments. Segment Adjusted Operating Income should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered an alternative to net income attributable to Aptiv, which is the most directly comparable financial measure to Adjusted Operating Income that is prepared in accordance with U.S. GAAP. Segment Adjusted Operating Income, as determined and measured by Aptiv, should also not be compared to similarly titled measures reported by other companies. As described in Note 25. Discontinued Operations and Held For Sale, the Company’s previously reported Powertrain Systems segment has been classified as discontinued operations for all periods presented. Certain original equipment service businesses that were previously included within the Powertrain Systems segment but which was not included in the spin-off, are reported in continuing operations and have been reclassified within the Advanced Safety and User Experience and Signal and Power Solutions segments for all periods presented. Amounts for shared general and administrative operating expenses that were allocated to the Powertrain Systems segment in prior periods have been re-allocated to the Company’s reportable operating segments. No amounts for shared general and administrative operating expense or interest expense were allocated to discontinued operations. Included below are sales and operating data for Aptiv’s segments for the years ended December 31, 2019 , 2018 and 2017 , as well as balance sheet data as of December 31, 2019 and 2018 . Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) For the Year Ended December 31, 2019: Net sales $ 10,302 $ 4,092 $ (37 ) $ 14,357 Depreciation and amortization $ 538 $ 179 $ — $ 717 Adjusted operating income $ 1,274 $ 274 $ — $ 1,548 Operating income (2) $ 1,124 $ 152 $ — $ 1,276 Equity income, net of tax $ 15 $ — $ — $ 15 Net income attributable to noncontrolling interest $ 19 $ — $ — $ 19 Capital expenditures $ 495 $ 250 $ 36 $ 781 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) For the Year Ended December 31, 2018: Net sales $ 10,402 $ 4,078 $ (45 ) $ 14,435 Depreciation and amortization $ 490 $ 186 $ — $ 676 Adjusted operating income $ 1,424 $ 327 $ — $ 1,751 Operating income (3) $ 1,279 $ 194 $ — $ 1,473 Equity income, net of tax $ 23 $ — $ — $ 23 Net income attributable to noncontrolling interest $ 40 $ — $ — $ 40 Capital expenditures $ 534 $ 245 $ 67 $ 846 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) For the Year Ended December 31, 2017: Net sales $ 9,507 $ 3,446 $ (69 ) $ 12,884 Depreciation and amortization $ 438 $ 108 $ — $ 546 Adjusted operating income $ 1,302 $ 292 $ — $ 1,594 Operating income (4) $ 1,206 $ 210 $ — $ 1,416 Equity income, net of tax $ 31 $ — $ — $ 31 Net income attributable to noncontrolling interest $ 42 $ — $ — $ 42 Capital expenditures $ 477 $ 196 $ 25 $ 698 (1) Eliminations and Other includes the elimination of inter-segment transactions. Capital expenditures amounts are attributable to corporate administrative and support functions, including corporate headquarters and certain technical centers. (2) Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. (3) Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. (4) Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) Balance as of December 31, 2019: Investment in affiliates $ 106 $ — $ — $ 106 Goodwill $ 2,381 $ 26 $ — $ 2,407 Total segment assets $ 12,726 $ 4,988 $ (4,255 ) $ 13,459 Balance as of December 31, 2018: Investment in affiliates $ 99 $ — $ — $ 99 Goodwill $ 2,180 $ 344 $ — $ 2,524 Total segment assets $ 11,620 $ 5,024 $ (4,164 ) $ 12,480 (1) Eliminations and Other includes the elimination of inter-segment transactions. The reconciliation of Adjusted Operating Income to Operating Income includes, as applicable, restructuring, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures), asset impairments, gains (losses) on business divestitures and deferred compensation related to acquisitions. The reconciliations of Adjusted Operating Income to net income attributable to Aptiv for the years ended December 31, 2019 , 2018 and 2017 are as follows: Signal and Power Solutions Advanced Safety and User Experience Eliminations Total (in millions) For the Year Ended December 31, 2019: Adjusted operating income $ 1,274 $ 274 $ — $ 1,548 Restructuring (104 ) (44 ) — (148 ) Other acquisition and portfolio project costs (44 ) (27 ) — (71 ) Asset impairments (2 ) (9 ) — (11 ) Deferred compensation related to nuTonomy acquisition — (42 ) — (42 ) Operating income $ 1,124 $ 152 $ — 1,276 Interest expense (164 ) Other income, net 14 Income from continuing operations before income taxes and equity income 1,126 Income tax expense (132 ) Equity income, net of tax 15 Income from continuing operations 1,009 Income from discontinued operations, net of tax — Net income 1,009 Net income attributable to noncontrolling interest 19 Net income attributable to Aptiv $ 990 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other Total (in millions) For the Year Ended December 31, 2018: Adjusted operating income $ 1,424 $ 327 $ — $ 1,751 Restructuring (90 ) (19 ) — (109 ) Other acquisition and portfolio project costs (54 ) (24 ) — (78 ) Asset impairments (1 ) (33 ) — (34 ) Deferred compensation related to nuTonomy acquisition — (57 ) — (57 ) Operating income $ 1,279 $ 194 $ — 1,473 Interest expense (141 ) Other income, net 2 Income from continuing operations before income taxes and equity income 1,334 Income tax expense (250 ) Equity income, net of tax 23 Income from continuing operations 1,107 Income from discontinued operations, net of tax — Net income 1,107 Net income attributable to noncontrolling interest 40 Net income attributable to Aptiv $ 1,067 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other Total (in millions) For the Year Ended December 31, 2017: Adjusted operating income $ 1,302 $ 292 $ — $ 1,594 Restructuring (67 ) (62 ) — (129 ) Other acquisition and portfolio project costs (21 ) (7 ) — (28 ) Asset impairments (8 ) (1 ) — (9 ) Deferred compensation related to nuTonomy acquisition — (12 ) — (12 ) Operating income $ 1,206 $ 210 $ — 1,416 Interest expense (140 ) Other expense, net (21 ) Income from continuing operations before income taxes and equity income 1,255 Income tax expense (223 ) Equity income, net of tax 31 Income from continuing operations 1,063 Income from discontinued operations, net of tax 365 Net income 1,428 Net income attributable to noncontrolling interest 73 Net income attributable to Aptiv $ 1,355 Information concerning principal geographic areas is set forth below. Net sales reflects the manufacturing location and is for the years ended December 31, 2019 , 2018 and 2017 . Long-lived assets is as of December 31, 2019 , 2018 and 2017 . Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 Net Sales Long-Lived Assets (1) Net Sales Long-Lived Assets (1) Net Sales Long-Lived Assets (1) (in millions) United States (2) $ 5,308 $ 1,029 $ 5,390 $ 942 $ 4,652 $ 839 Other North America 136 264 170 206 171 185 Europe, Middle East & Africa (3) 4,791 1,398 4,689 1,112 4,235 1,029 Asia Pacific (4) 3,876 970 3,916 869 3,544 698 South America 246 61 270 50 282 53 Total $ 14,357 $ 3,722 $ 14,435 $ 3,179 $ 12,884 $ 2,804 (1) Includes property, plant and equipment, net of accumulated depreciation and operating lease right-of-use assets of $413 million as of December 31, 2019 . (2) Includes net sales and machinery, equipment and tooling that relate to the Company’s maquiladora operations located in Mexico. These assets are utilized to produce products sold to customers located in the U.S. (3) Includes Aptiv’s country of domicile, Jersey, and the country of Aptiv’s principal executive offices, Ireland. The Company had no sales in Jersey or Ireland in any period. The Company had long-lived assets in Ireland of $79 million , $22 million and less than $1 million as of December 31, 2019 , 2018 and 2017 , respectively. The largest portion of net sales in the Europe, Middle East & Africa region was $1,340 million , $1,398 million and $1,191 million in Germany for the years ended December 31, 2019 , 2018 and 2017 , respectively. (4) Net sales and long-lived assets in Asia Pacific are primarily attributable to China. |
Quarterly Data (Unaudited)
Quarterly Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Information | QUARTERLY DATA (UNAUDITED) The following is a condensed summary of the Company’s unaudited quarterly results of operations for fiscal 2019 and 2018 . Three Months Ended March 31, June 30, September 30, December 31, Total (in millions, except per share amounts) 2019 Net sales $ 3,575 $ 3,627 $ 3,559 $ 3,596 $ 14,357 Cost of sales 2,962 2,958 2,882 2,909 11,711 Gross margin $ 613 $ 669 $ 677 $ 687 $ 2,646 Operating income (1) $ 297 $ 335 $ 320 $ 324 $ 1,276 Net Income (2) 245 271 252 241 1,009 Net income attributable to Aptiv $ 240 $ 274 $ 246 $ 230 $ 990 Basic net income per share: Basic net income per share attributable to Aptiv (3) $ 0.93 $ 1.07 $ 0.96 $ 0.90 $ 3.85 Weighted average number of basic shares outstanding 259.08 257.02 255.89 255.31 256.81 Diluted net income per share: Diluted net income per share attributable to Aptiv (3) $ 0.92 $ 1.07 $ 0.96 $ 0.90 $ 3.85 Weighted average number of diluted shares outstanding 259.55 257.26 256.44 256.36 257.39 2018 Net sales $ 3,630 $ 3,684 $ 3,485 $ 3,636 $ 14,435 Cost of sales 2,947 2,958 2,834 2,967 11,706 Gross margin $ 683 $ 726 $ 651 $ 669 $ 2,729 Operating income (4) $ 374 $ 421 $ 323 $ 355 $ 1,473 Net Income (5) 316 303 231 257 1,107 Net income attributable to Aptiv $ 307 $ 291 $ 222 $ 247 $ 1,067 Basic net income per share: Basic net income per share attributable to Aptiv (3) $ 1.16 $ 1.10 $ 0.84 $ 0.94 $ 4.04 Weighted average number of basic shares outstanding 265.69 264.81 264.56 262.61 264.41 Diluted net income per share: Diluted net income per share attributable to Aptiv (3) $ 1.15 $ 1.10 $ 0.84 $ 0.94 $ 4.02 Weighted average number of diluted shares outstanding 266.44 265.48 265.33 263.65 265.22 (1) In the third quarter of 2019, Aptiv recorded restructuring charges totaling $61 million , which includes employee-related and other costs. (2) In the first quarter of 2019, Aptiv recorded a pre-tax unrealized gain of $19 million related to increases in fair value of its equity investments without readily determinable fair values, as further described in Note 19. Other Income, Net. (3) Due to the use of the weighted average shares outstanding for each quarter for computing earnings per share, the sum of the quarterly per share amounts may not equal the per share amount for the year. (4) In the third quarter of 2018, Aptiv recorded restructuring charges totaling $65 million , which includes employee-related and other costs. In the fourth quarter of 2018, Aptiv recorded intangible asset impairment charges totaling $30 million , as further described in Note 7. Intangible Assets and Goodwill. (5) In the second quarter of 2018, Aptiv recorded increased tax expense of approximately $25 million as an adjustment to the provisional amounts recorded due to the enactment of the Tax Cuts and Jobs Act in the U.S. on December 22, 2017. In the third quarter of 2018, Aptiv recorded increased tax expense of approximately $24 million as a result of the intra-entity transfer of intellectual property, as further described in Note 14. Income Taxes. |
Discontinued Operations and Hel
Discontinued Operations and Held for Sale | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | DISCONTINUED OPERATIONS AND HELD FOR SALE Spin-Off of Delphi Technologies On December 4, 2017 , the Company completed the Separation of its former Powertrain Systems segment by distributing to Aptiv shareholders on a pro rata basis all of the issued and outstanding ordinary shares of Delphi Technologies PLC (“Delphi Technologies”), a public limited company formed to hold the spun-off business. To effect the Separation, the Company distributed to its shareholders one ordinary share of Delphi Technologies for every three Aptiv ordinary shares outstanding as of November 22, 2017 , the record date for the distribution. Shareholders received cash in lieu of any fractional ordinary shares of Delphi Technologies. Following the Separation, Delphi Technologies is now an independent public company. Aptiv did not retain any equity or other interests in Delphi Technologies. On December 4, 2017 , pursuant to the Separation and Distribution Agreement, the Company transferred to Delphi Technologies the assets and liabilities that comprised Delphi Technologies’ business. The Company received a dividend of approximately $1,148 million from Delphi Technologies in connection with the Separation. Delphi Technologies financed this dividend through the issuance of approximately $1.55 billion of debt, consisting of a senior secured five-year $750 million term loan facility that was issued upon the spin-off and $800 million aggregate principal amount of 5.00% senior unsecured notes due 2025 that were issued in September 2017 (collectively, the “Delphi Technologies Debt”). In connection with the Separation, the Delphi Technologies Debt was transferred to Delphi Technologies and is no longer reflected in the Company’s continuing operations in the consolidated financial statements. Also in connection with the Separation, the Company received $180 million in cash from Delphi Technologies pursuant to the Tax Matters Agreement. The requirements for the presentation of Delphi Technologies as a discontinued operation were met when the Separation was completed. Accordingly, the accompanying consolidated financial statements reflect this business as a discontinued operation for all periods presented through the Distribution Date. Operations related to certain original equipment service businesses previously included within the Company’s Powertrain Systems segment, but which were not included in the spin-off, are reported in continuing operations and have been reclassified within the Advanced Safety and User Experience and Signal and Power Solutions segments for all periods presented. No amounts for shared general and administrative expense or interest expense were allocated to discontinued operations. Aptiv has not had significant continuing involvement with the spun-off Powertrain Systems business following the closing of the transaction. In connection with the Separation, Aptiv and Delphi Technologies entered into various agreements to effect the Separation and to provide a framework for their relationship following the Separation, which included a Separation and Distribution Agreement, a Transition Services Agreement, a Tax Matters Agreement, an Employee Matters Agreement and Contract Manufacturing Services Arrangements. The transition services primarily involve Aptiv providing certain services to Delphi Technologies related to information technology and human resource infrastructure for terms of up to 24 months following the Separation. Aptiv recorded $4 million and $11 million to other income, net during the years ended December 31, 2019 and 2018 , respectively, for certain fees earned pursuant to the Transition Services Agreement. Also as a result of the spin-off, Aptiv recorded certain short-term assets and liabilities within the consolidated balance sheets as of December 31, 2018 and 2017 related to various agreements entered into in connection with the spin-off. The changes in these short-term assets and liabilities are reflected within operating activities from discontinued operations in the consolidated statements of cash flows. As a result of the Separation, the Company incurred approximately $118 million in separation costs during the year ended December 31, 2017, which are included within earnings from discontinued operations, net of income taxes in the consolidated statements of operations. These costs primarily related to professional fees associated with planning the Separation, as well as Separation activities within finance, tax, legal and information system functions and certain investment banking fees incurred upon the Separation. As a result of the Separation, the Company separated its defined benefit pension and other post-employment benefit plans, and adjusted its employee share-based compensation awards. See Note 12. Pension Benefits and Note 21. Share-Based Compensation, respectively, for additional information. As a result of the completion of the Separation on December 4, 2017 , there were no assets or liabilities of the discontinued operation as of December 31, 2019 or 2018 . Income from Discontinued Operations A reconciliation of the major classes of line items constituting pre-tax profit or loss of discontinued operations to income from discontinued operations, net of tax as presented in the consolidated statements of operations is as follows: Year Ended December 31, 2017 (in millions) Net sales $ 4,385 Cost of sales 3,496 Selling, general and administrative 298 Amortization 15 Restructuring 90 Other expense items that are not major, net (54 ) Income from discontinued operations before income taxes and equity income 432 Income tax expense on discontinued operations (71 ) Equity income from discontinued operations, net of tax 4 Income from discontinued operations, net of tax 365 Income from discontinued operations attributable to noncontrolling interests 31 Net income from discontinued operations attributable to Aptiv $ 334 Income from discontinued operations before income taxes attributable to Aptiv was $399 million for the year ended December 31, 2017 , which includes $6 million of income tax expense attributable to noncontrolling interests. Autonomous Driving Joint Venture In September 2019, the Company entered into a definitive agreement with Hyundai Motor Group (“Hyundai”) to form a new joint venture focused on the design, development and commercialization of autonomous driving technologies. Under the terms of the agreement, Aptiv will contribute to the joint venture autonomous driving technology, intellectual property and approximately 700 employees for a 50% ownership interest in the newly formed entity. Hyundai will contribute to the joint venture approximately $1.6 billion in cash at closing and approximately $0.4 billion in vehicle engineering services, research and development resources and access to intellectual property for a 50% ownership interest in the newly formed entity. Upon closing of the transaction, Aptiv anticipates it will deconsolidate the carrying value of the associated assets and liabilities contributed to the joint venture, recognize an asset for the fair value of its investment in the newly formed joint venture and recognize any difference between the carrying value of its contribution and the fair value of its investment in earnings. Aptiv anticipates recognizing its investment in the newly formed entity prospectively using the equity method of accounting. The transaction is subject to the satisfaction of customary closing conditions and the receipt of regulatory and other approvals, and is expected to close in the first quarter of 2020. The Company determined that the assets and liabilities associated with Aptiv’s contribution to the joint venture, which are reported within the Advanced Safety and User Experience segment, met the held for sale criteria as of December 31, 2019. Accordingly, the held for sale assets and liabilities were reclassified in the consolidated balance sheet as of December 31, 2019 to current assets held for sale and current liabilities held for sale, respectively, as the contribution of such assets and liabilities to the joint venture is expected to occur within one year. Upon designation as held for sale, the Company ceased recording depreciation of the held for sale assets. Assets and liabilities classified as held for sale are required to be recorded at the lower of carrying value or fair value less costs to sell. The estimated fair value less costs to sell of Aptiv’s contribution to the joint venture exceeded its carrying value as of December 31, 2019, and therefore no adjustment to these long-lived assets was necessary. Upon closing of the transaction, to the extent the ultimate fair value differs from the current carrying value of the net assets associated with Aptiv’s contribution to the joint venture, the difference will be recognized in earnings. The following table summarizes the carrying value of the major classes of assets and liabilities held for sale: December 31, (in millions) Cash and cash equivalents $ 1 Accounts receivable, net 1 Property, net 64 Operating lease right-of-use assets 12 Intangible assets, net 126 Goodwill 318 Other assets 10 Total assets held for sale $ 532 Accounts payable $ 9 Accrued liabilities 19 Long-term operating lease liabilities 10 Other liabilities 5 Total liabilities held for sale $ 43 The pre-tax loss of Aptiv’s autonomous driving operations being contributed to the joint venture, included within Aptiv’s consolidated operating results, were $172 million , $155 million and $57 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. |
Leases Leases
Leases Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | LEASES Lease Portfolio The Company has operating and finance leases for real estate, office equipment, automobiles, forklifts and certain other equipment. The Company's leases have remaining lease terms of 1 year to 30 years, some of which include options to extend the leases for up to 8 years, and some of which include options to terminate the leases within 1 year. Certain of our lease agreements include rental payments which are adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. When available, we use the rate implicit in the lease to discount lease payments to present value; however, most of our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. The incremental borrowing rate is not a quoted rate and is derived by applying a spread over U.S. Treasury rates with a similar duration to the Company’s lease payments. The spread utilized is based on the Company’s credit rating and the impact of full collateralization. The components of lease expense were as follows: Year Ended December 31, 2019 (in millions) Lease cost: Finance lease cost: Amortization of right-of-use assets $ 4 Interest on lease liabilities 1 Total finance lease cost 5 Operating lease cost 114 Short-term lease cost 13 Variable lease cost 1 Sublease income (1) — Total lease cost $ 133 (1) Sublease income excludes rental income from owned properties of $11 million for the year ended December 31, 2019 , which is included in other income, net. Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2019 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 1 Operating cash flows for operating leases 112 Financing cash flows for finance leases 3 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 86 Finance leases 5 Supplemental balance sheet information related to leases was as follows: December 31, 2019 (dollars in millions) Operating leases: Operating lease right-of-use assets $ 413 Accrued liabilities (Note 8) $ 94 Long-term operating lease liabilities 329 Total operating lease liabilities $ 423 Finance leases: Property and equipment $ 30 Less: accumulated depreciation (9 ) Total property, net $ 21 Short-term debt (Note 11) $ 4 Long-term debt (Note 11) 18 Total finance lease liabilities $ 22 Weighted average remaining lease term: Operating leases 6 years Finance leases 6 years Weighted average discount rate: Operating leases 3.5 % Finance leases 4.0 % Additionally, the Company reclassified $12 million of operating lease right-of-use assets and $13 million of operating lease liabilities as held for sale in the consolidated balance sheet as of December 31, 2019 . Refer to Note 25. Discontinued Operations and Held For Sale for further information regarding the Company's assets and liabilities held for sale. Maturities of lease liabilities were as follows: Operating Leases Finance Leases (in millions) As of December 31, 2019 2020 $ 106 $ 5 2021 94 5 2022 79 4 2023 59 3 2024 39 2 Thereafter 93 6 Total lease payments 470 25 Less: imputed interest (47 ) (3 ) Total $ 423 $ 22 As of December 31, 2019 , the Company has entered into additional operating leases, primarily for real estate, that have not yet commenced of approximately $25 million . These operating leases primarily relate to Aptiv’s held for sale operations and are anticipated to commence primarily in 2020 with lease terms of 10 years. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy | Consolidation —The consolidated financial statements include the accounts of Aptiv and U.S. and non-U.S. subsidiaries in which Aptiv holds a controlling financial or management interest and variable interest entities of which Aptiv has determined that it is the primary beneficiary. Aptiv’s share of the earnings or losses of non-controlled affiliates, over which Aptiv exercises significant influence (generally a 20% to 50% ownership interest), is included in the consolidated operating results using the equity method of accounting. When Aptiv does not have the ability to exercise significant influence (generally when ownership interest is less than 20%), investments in non-consolidated affiliates without readily determinable fair values are measured at cost, less impairments, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. All significant intercompany transactions and balances between consolidated Aptiv businesses have been eliminated. The Company monitors its investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis. If the Company determines that such a decline has occurred, an impairment loss is recorded, which is measured as the difference between carrying value and estimated fair value. Estimated fair value is generally determined using an income approach based on discounted cash flows or negotiated transaction values. During the years ended December 31, 2019 , 2018 and 2017 , Aptiv received dividends of $9 million , $12 million and $15 million , respectively, from its equity method investments. The dividends were recognized as a reduction to the investment and represented a return on investment included in cash flows from operating activities from continuing operations. Investments in non-consolidated affiliates totaled $101 million and $72 million as of December 31, 2019 and 2018 , respectively, and are classified within other long-term assets in the consolidated balance sheets. Refer to Note 5. Investments in Affiliates for further information. As part of Aptiv’s continuing operations, it has investments in three non-consolidated affiliates accounted for under the equity method of accounting. These affiliates are not publicly traded companies and are located primarily in Asia Pacific and North America. Aptiv’s ownership percentages vary generally from approximately 20% to 50% , with the most significant investment in Promotora de Partes Electricas Automotrices, S.A. de C.V. (of which Aptiv owns approximately 40% |
Use of Estimates, Policy | Use of estimates —Preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect amounts reported therein. Generally, matters subject to estimation and judgment include amounts related to accounts receivable realization, inventory obsolescence, asset impairments, useful lives of intangible and fixed assets, deferred tax asset valuation allowances, income taxes, pension benefit plan assumptions, accruals related to litigation, warranty costs, environmental remediation costs, contingent consideration arrangements, worker’s compensation accruals and healthcare accruals. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from those estimates. |
Revenue [Policy Text Block] | Revenue recognition —Revenue is measured based on consideration specified in a contract with a customer. Customer contracts generally are represented by a combination of a current purchase order and a current production schedule issued by the customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. From time to time, Aptiv enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost saving targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. In addition, from time to time, Aptiv makes payments to customers in conjunction with ongoing business. These payments to customers are generally recognized as a reduction to revenue at the time of the commitment to make these payments. However, certain other payments to customers, or upfront fees, meet the criteria to be considered a cost to obtain a contract as they are directly attributable to a contract, are incremental and management expects the fees to be recoverable. Aptiv collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with a revenue-producing transaction between the Company and the Company’s customers. These taxes may include, but are not limited to, sales, use, value-added, and some excise taxes. Aptiv reports the collection of these taxes on a net basis (excluded from revenues). Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales. Refer to Note 26. Revenue for further information. Revenue is recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Accordingly, revenue is measured based on consideration specified in a contract with a customer. Customer contracts generally are represented by a combination of a current purchase order and a current production schedule issued by the customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. From time to time, Aptiv enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost savings targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by Aptiv from a customer are excluded from revenue. Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales. Nature of Goods and Services The principal activity from which the Company generates its revenue is the manufacturing of production parts for OEM customers. Aptiv recognizes revenue at a point in time, rather than over time, as the performance obligation is satisfied when customers obtain control of the product upon title transfer and not as the product is manufactured or developed. Aptiv recognizes revenue for production parts at a point in time as title transfers to the customer. Although production parts are highly customized with no alternative use, Aptiv does not have an enforceable right to payment as customers have the right to cancel a product program without a notification period. The amount of revenue recognized is based on the purchase order price and adjusted for revenue allocated to variable consideration (i.e. estimated rebates and price discounts), as applicable. Customers typically pay for production parts based on customary business practices with payment terms averaging 60 days. |
Net Income Per Share, Policy | Net income per share —Basic net income per share is computed by dividing net income attributable to Aptiv by the weighted–average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Aptiv by the diluted weighted-average number of ordinary shares outstanding during the period. Unless otherwise noted, share and per share amounts included in these notes are on a diluted basis. Refer to Note 15. Shareholders’ Equity and Net Income Per Share for additional information including the calculation of basic and diluted net income per share. Basic net income per share is computed by dividing net income attributable to Aptiv by the weighted average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Aptiv by the diluted weighted average number of ordinary shares outstanding during the period. For all periods presented, the calculation of net income per share contemplates the dilutive impacts, if any, of the Company’s share-based compensation plans. Refer to Note 21. Share-Based Compensation for additional information. |
Research and Development, Policy | Research and development —Costs are incurred in connection with research and development programs that are expected to contribute to future earnings. Such costs are charged against income as incurred. Total research and development expenses, including engineering, net of customer reimbursements, were approximately $1,165 million , $1,155 million and $882 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. |
Cash and Cash Equivalents, Policy | Cash and cash equivalents —Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of three months or less. |
Restricted Cash, Policy | Restricted cash —Restricted cash includes balances on deposit at financial institutions that have issued letters of credit in favor of Aptiv and cash deposited into an escrow account. Refer to Note 18. Fair Value of Financial Instruments for further information regarding amounts deposited into an escrow account. |
Accounts Receivable, Policy | Accounts receivable —Aptiv enters into agreements to sell certain of its accounts receivable, primarily in Europe. Sales of receivables are accounted for in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 860, Transfers and Servicing (“ASC 860”). Agreements which result in true sales of the transferred receivables, as defined in ASC 860, which occur when receivables are transferred without recourse to the Company, are excluded from amounts reported in the consolidated balance sheets. Cash proceeds received from such sales are included in operating cash flows. Agreements that allow Aptiv to maintain effective control over the transferred receivables and which do not qualify as a sale, as defined in ASC 860, are accounted for as secured borrowings and recorded in the consolidated balance sheets within accounts receivable, net and short-term debt. The expenses associated with receivables factoring are recorded in the consolidated statements of operations within interest expense. The Company exchanges certain amounts of accounts receivable, primarily in the Asia Pacific region, for bank notes with original maturities greater than three months. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. Bank notes held by the Company with original maturities of three months or less are classified as cash and cash equivalents within the consolidated balance sheets, and those with original maturities of greater than three months are classified as notes receivable within other current assets. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third-party financial institutions in exchange for cash. The allowance for doubtful accounts is established based upon analysis of trade receivables for known collectability issues, the aging of the trade receivables at the end of each period and, generally, all accounts receivable balances greater than 90 days past due are fully reserved. As of December 31, 2019 and 2018 , the allowance for doubtful accounts was $37 million and $38 million , respectively, and the provision for doubtful accounts was $9 million , $9 million , and $23 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. |
Transfers and Servicing of Financial Assets, Policy | Accounts receivable —Aptiv enters into agreements to sell certain of its accounts receivable, primarily in Europe. Sales of receivables are accounted for in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 860, Transfers and Servicing (“ASC 860”). Agreements which result in true sales of the transferred receivables, as defined in ASC 860, which occur when receivables are transferred without recourse to the Company, are excluded from amounts reported in the consolidated balance sheets. Cash proceeds received from such sales are included in operating cash flows. Agreements that allow Aptiv to maintain effective control over the transferred receivables and which do not qualify as a sale, as defined in ASC 860, are accounted for as secured borrowings and recorded in the consolidated balance sheets within accounts receivable, net and short-term debt. The expenses associated with receivables factoring are recorded in the consolidated statements of operations within interest expense. The Company exchanges certain amounts of accounts receivable, primarily in the Asia Pacific region, for bank notes with original maturities greater than three months. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. Bank notes held by the Company with original maturities of three months or less are classified as cash and cash equivalents within the consolidated balance sheets, and those with original maturities of greater than three months are classified as notes receivable within other current assets. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third-party financial institutions in exchange for cash. |
Inventories, Policy | Inventories —As of December 31, 2019 and 2018 , inventories are stated at the lower of cost, determined on a first-in, first-out basis, or net realizable value, including direct material costs and direct and indirect manufacturing costs. Refer to Note 3. Inventories for additional information. Obsolete inventory is identified based on analysis of inventory for known obsolescence issues, and, generally, the market value of inventory on hand in excess of one year’s supply is fully-reserved. From time to time, payments may be received from suppliers. These payments from suppliers are recognized as a reduction of the cost of the material acquired during the period to which the payments relate. In some instances, supplier rebates are received in conjunction with or concurrent with the negotiation of future purchase agreements and these amounts are amortized over the prospective agreement period. |
Property, Policy | Property —Major improvements that materially extend the useful life of property are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is determined based on a straight-line method over the estimated useful lives of groups of property. Leasehold improvements under finance leases are depreciated over the period of the lease or the life of the property, whichever is shorter. Refer to Note 6. Property, Net and Note 27. Leases for additional information. |
Preproduction Design and Development Costs | Pre-production costs related to long-term supply agreements —The Company incurs pre-production engineering, development and tooling costs related to products produced for its customers under long-term supply agreements. Engineering, testing and other costs incurred in the design and development of production parts are expensed as incurred, unless the costs are reimbursable, as specified in a customer contract. As of December 31, 2019 and 2018 , $318 million and $184 million of such contractually reimbursable costs were capitalized, respectively. These amounts are recorded within other current and other long-term assets in the consolidated balance sheets, as further detailed in Note 4. Assets. Special tools represent Aptiv-owned tools, dies, jigs and other items used in the manufacture of customer components that will be sold under long-term supply arrangements, the costs of which are capitalized within property, plant and equipment if the Company has title to the assets. Special tools also include capitalized unreimbursed pre-production tooling costs related to customer-owned tools for which the customer has provided Aptiv a non-cancellable right to use the tool. Aptiv-owned special tools balances are depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. The unreimbursed costs incurred related to customer-owned special tools that are not subject to reimbursement are capitalized and depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. At December 31, 2019 and 2018 , the special tools balance, net of accumulated depreciation, was $485 million and $461 million , respectively, included within property, net in the consolidated balance sheets. As of December 31, 2019 and 2018 , the Aptiv-owned special tools balances were $365 million and $352 million , respectively, and the customer-owned special tools balances were $120 million and $109 million , respectively. |
Valuation of Long-Lived Assets, Policy | Valuation of long-lived assets —The carrying value of long-lived assets held for use, including definite-lived intangible assets, is periodically evaluated when events or circumstances warrant such a review. The carrying value of a long-lived asset held for use is considered impaired when the anticipated separately identifiable undiscounted cash flows from the asset are less than the carrying value of the asset. In that event, a loss is recognized based on the amount by which the carrying value exceeds the estimated fair value of the long-lived asset. Impairment losses on long-lived assets held for sale are recognized if the carrying value of the asset is in excess of the asset’s estimated fair value, reduced for the cost to dispose of the asset. Fair value of long-lived assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved (an income approach), and in certain situations Aptiv’s review of appraisals (a market approach). Refer to Note 6. Property, Net and Note 7. Intangible Assets and Goodwill for additional information. |
AssetsandLiabilitiesHeldforSale [Policy Text Block] | Assets and liabilities held for sale —The Company considers assets to be held for sale when management approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer and other actions required to complete the sale have been initiated, the sale of the assets is probable and expected to be completed within one year (or, if it is expected that others will impose conditions on the sale of the assets that will extend the period required to complete the sale, that a firm purchase commitment is probable within one year) and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, the Company records the assets at the lower of their carrying value or their estimated fair value, less cost to sell, and ceases to record depreciation expense on the assets. Assets and liabilities of a discontinued operation are reclassified as held for sale for all comparative periods presented in the consolidated balance sheets. For assets that meet the held for sale criteria but do not meet the definition of a discontinued operation, the Company reclassifies the assets and liabilities in the period in which the held for sale criteria are met, but does not reclassify prior period amounts. Refer to Note 25. Discontinued Operations and Held For Sale for further information regarding the Company's assets and liabilities held for sale. |
Intangible Assets, Policy | Intangible assets —The Company amortizes definite-lived intangible assets over their estimated useful lives. The Company has definite-lived intangible assets related to patents and developed technology, customer relationships and trade names. Indefinite-lived in-process research and development intangible assets are not amortized, but are tested for impairment annually, or more frequently when indicators of potential impairment exist, until the completion or abandonment of the associated research and development efforts. Upon completion of the projects, the assets will be amortized over the expected economic life of the asset, which will be determined on that date. Should the project be determined to be abandoned, and if the asset developed has no alternative use, the full value of the asset will be charged to expense. The Company also has intangible assets related to acquired trade names that are classified as indefinite-lived when there are no foreseeable limits on the periods of time over which they are expected to contribute cash flows. These indefinite-lived trade name assets are tested for impairment annually, or more frequently when indicators of potential impairment exist. Costs to renew or extend the term of acquired intangible assets are recognized as expense as incurred. The Company recorded intangible asset impairment charges of $8 million and $30 million , respectively, during the years ended December 31, 2019 and 2018 . No intangible asset impairment charges were recorded in 2017 . Refer to Note 7. Intangible Assets and Goodwill for additional information. |
Goodwill, Policy | Goodwill —Goodwill is the excess of the purchase price over the estimated fair value of identifiable net assets acquired in business combinations. The Company tests goodwill for impairment annually in the fourth quarter, or more frequently when indications of potential impairment exist. The Company monitors the existence of potential impairment indicators throughout the fiscal year. The Company tests for goodwill impairment at the reporting unit level. Our reporting units are the components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. The impairment test involves first qualitatively assessing goodwill for impairment. If the qualitative assessment is not met the Company then performs a quantitative assessment by first comparing the estimated fair value of each reporting unit to its carrying value, including goodwill. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the estimated fair value exceeds carrying value, then we conclude that no goodwill impairment has occurred. If the carrying value of the reporting unit exceeds its estimated fair value, a second step is required to measure possible goodwill impairment loss. The second step includes hypothetically valuing the tangible and intangible assets and liabilities of the reporting unit as if the reporting unit had been acquired in a business combination. Then, the implied fair value of the reporting unit’s goodwill is compared to the carrying value of that goodwill. If the carrying value of the reporting unit’s goodwill exceeds the implied fair value of the goodwill, the Company recognizes an impairment loss in an amount equal to the excess, not to exceed the carrying value. Refer to Note 20. Acquisitions and Divestitures, for further information on the goodwill attributable to the Company’s acquisitions. Goodwill impairment —In the fourth quarter of 2019 , 2018 and 2017 , the Company completed a qualitative goodwill impairment assessment, and after evaluating the results, events and circumstances of the Company, the Company concluded that sufficient evidence existed to assert qualitatively that it was more likely than not that the estimated fair value of each reporting unit remained in excess of its carrying values. Therefore, a two-step impairment assessment was not necessary. No goodwill impairments were recorded in 2019 , 2018 or 2017 . Refer to Note 7. Intangible Assets and Goodwill for additional information. |
Discontinued Operations, Policy | Discontinued operations —The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. Discontinued operations reporting occurs only when the disposal of a component or a group of components of the Company represents a strategic shift that will have a major effect on the Company’s operations and financial results. During the year ended December 31, 2017, the Company completed the Separation of its former Powertrain Systems segment by means of a spin-off into Delphi Technologies PLC. Accordingly, the assets and liabilities, operating results and operating and investing cash flows for the previously reported Powertrain Systems segment are presented as discontinued operations separate from the Company’s continuing operations and segment results for all periods presented in these consolidated financial statements and the notes to the consolidated financial statements, unless otherwise noted. Refer to Note 25. Discontinued Operations and Held For Sale for further information regarding the Company’s discontinued operations. |
Warranty, Policy | Warranty and product recalls —Expected warranty costs for products sold are recognized at the time of sale of the product based on an estimate of the amount that eventually will be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. Costs of product recalls, which may include the cost of the product being replaced as well as the customer’s cost of the recall, including labor to remove and replace the recalled part, are accrued as part of our warranty accrual at the time an obligation becomes probable and can be reasonably estimated. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims. Refer to Note 9. Warranty Obligations for additional information. |
Income Tax, Policy | Income taxes —Deferred tax assets and liabilities reflect temporary differences between the amount of assets and liabilities for financial and tax reporting purposes. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. In the event the Company determines it is more likely than not that the deferred tax assets will not be realized in the future, the valuation allowance adjustment to the deferred tax assets will be charged to earnings in the period in which the Company makes such a determination. In determining whether an uncertain tax position exists, the Company determines, based solely on its technical merits, whether the tax position is more likely than not to be sustained upon examination, and if so, a tax benefit is measured on a cumulative probability basis that is more likely than not to be realized upon the ultimate settlement. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities. Refer to Note. 14. Income Taxes for additional information. |
Foreign Currency Translation, Policy | Foreign currency translation —Assets and liabilities of non-U.S. subsidiaries that use a currency other than U.S. dollars as their functional currency are translated to U.S. dollars at end-of-period currency exchange rates. The consolidated statements of operations of non-U.S. subsidiaries are translated to U.S. dollars at average-period currency exchange rates. The effect of translation for non-U.S. subsidiaries is generally reported in other comprehensive income (“OCI”). The effect of remeasurement of assets and liabilities of non-U.S. subsidiaries that use the U.S. dollar as their functional currency is primarily included in cost of sales. Also included in cost of sales are gains and losses arising from transactions denominated in a currency other than the functional currency of a particular entity. Net foreign currency transaction losses of $3 million , gains of $8 million and losses of $13 million were included in the consolidated statements of operations for the years ended December 31, 2019 , 2018 and 2017 , respectively. The accumulated foreign currency translation adjustment related to an investment in a foreign subsidiary is reclassified to net income upon sale or upon complete or substantially complete liquidation of the respective entity. |
Restructurings, Policy | Restructuring —Aptiv continually evaluates alternatives to align the business with the changing needs of its customers and to lower operating costs. This includes the realignment of its existing manufacturing capacity, facility closures, or similar actions, either in the normal course of business or pursuant to significant restructuring programs. These actions may result in employees receiving voluntary or involuntary employee termination benefits, which are mainly pursuant to union or other contractual agreements or statutory requirements. Voluntary termination benefits are accrued when an employee accepts the related offer. Involuntary termination benefits are accrued upon the commitment to a termination plan and when the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable, depending on the existence of a substantive plan for severance or termination. Contract termination costs are recorded when contracts are terminated or when Aptiv ceases to use the leased facility and no longer derives economic benefit from the contract. All other exit costs are expensed as incurred. Refer to Note 10. Restructuring for additional information. |
Environmental Liabilities, Policy | Environmental liabilities —Environmental remediation liabilities are recognized when a loss is probable and can be reasonably estimated. Such liabilities generally are not subject to insurance coverage. The cost of each environmental remediation is estimated by engineering, financial, and legal specialists based on current law and considers the estimated cost of investigation and remediation required and the likelihood that, where applicable, other responsible parties will be able to fulfill their commitments. The process of estimating environmental remediation liabilities is complex and dependent primarily on the nature and extent of historical information and physical data relating to a contaminated site, the complexity of the site, the uncertainty as to what remediation and technology will be required, and the outcome of discussions with regulatory agencies and, if applicable, other responsible parties at multi-party sites. In future periods, new laws or regulations, advances in remediation technologies and additional information about the ultimate remediation methodology to be used could significantly change estimates by Aptiv. Refer to Note 13. Commitments and Contingencies for additional information. |
Asset Retirement Obligations, Policy | Asset retirement obligations —Asset retirement obligations are recognized in accordance with FASB ASC 410, Asset Retirement and Environmental Obligations . Conditional retirement obligations have been identified primarily related to asbestos abatement at certain sites. To a lesser extent, conditional retirement obligations also exist at certain sites related to the removal of storage tanks and disposal costs. Asset retirement obligations were $1 million and $1 million at December 31, 2019 and 2018 , respectively. |
Customer Concentations, Policy | Customer concentrations —As reflected in the table below, net sales to GM, VW and FCA, Aptiv’s three largest customers, totaled approximately 27% , 29% and 29% of our total net sales for the years ended December 31, 2019 , 2018 and 2017 , respectively. Percentage of Total Net Sales Accounts and Other Receivables Year Ended December 31, December 31, December 31, 2019 2018 2017 (in millions) GM (1) 9 % 11 % 13 % $ 205 $ 169 VW 9 % 9 % 9 % 135 149 FCA 9 % 9 % 7 % 207 175 |
Derivative Financial Instruments, Policy | Derivative financial instruments —All derivative instruments are required to be reported on the balance sheet at fair value unless the transactions qualify and are designated as normal purchases or sales. Changes in fair value are reported currently through earnings unless they meet hedge accounting criteria. Exposure to fluctuations in currency exchange rates, interest rates and certain commodity prices are managed by entering into a variety of forward and option contracts and swaps with various counterparties. Such financial exposures are managed in accordance with the policies and procedures of Aptiv. Aptiv does not enter into derivative transactions for speculative or trading purposes. As part of the hedging program approval process, Aptiv identifies the specific financial risk which the derivative transaction will minimize, the appropriate hedging instrument to be used to reduce the risk and the correlation between the financial risk and the hedging instrument. Purchase orders, sales contracts, letters of intent, capital planning forecasts and historical data are used as the basis for determining the anticipated values of the transactions to be hedged. Aptiv does not enter into derivative transactions that do not have a high correlation with the underlying financial risk. Hedge positions, as well as the correlation between the transaction risks and the hedging instruments, are reviewed on an ongoing basis. Foreign exchange forward contracts are accounted for as hedges of firm or forecasted foreign currency commitments or foreign currency exposure of the net investment in certain foreign operations to the extent they are designated and assessed as highly effective. All foreign exchange contracts are marked to market on a current basis. Commodity swaps are accounted for as hedges of firm or anticipated commodity purchase contracts to the extent they are designated and assessed as effective. All other commodity derivative contracts that are not designated as hedges are either marked to market on a current basis or are exempted from mark to market accounting as normal purchases. At December 31, 2019 and 2018 , the Company’s exposure to movements in interest rates was not hedged with derivative instruments. Refer to Note 17. Derivatives and Hedging Activities and Note 18. Fair Value of Financial Instruments for additional information. |
Extended Disability Benefits, Policy | Extended disability benefits —Costs associated with extended disability benefits provided to inactive employees are accrued throughout the duration of their active employment. Workforce demographic data and historical experience are utilized to develop projections of time frames and related expense for post-employment benefits. |
Workers' Compensation Benefits, Policy | Workers’ compensation benefits —Workers’ compensation benefit accruals are actuarially determined and are subject to the existing workers’ compensation laws that vary by location. Accruals for workers’ compensation benefits represent the discounted future cash expenditures expected during the period between the incidents necessitating the employees to be idled and the time when such employees return to work, are eligible for retirement or otherwise terminate their employment. |
Share-based Compensation, Policy | Share-based compensation —The Company’s share-based compensation arrangements consist of the Aptiv PLC Long Term Incentive Plan, as amended and restated effective April 23, 2015 (the “PLC LTIP”), under which grants of restricted stock units (“RSUs”) have been made in each period from 2012 to 2019 . The RSU awards include a time-based vesting portion and a performance-based vesting portion. The performance-based vesting portion includes performance and market conditions in addition to service conditions. The grant date fair value of the RSUs is determined based on the closing price of the Company’s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, or a contemporaneous valuation performed by an independent valuation specialist with respect to awards with market conditions. Compensation expense is recognized based upon the grant date fair value of the awards applied to the Company’s best estimate of ultimate performance against the respective targets on a straight-line basis over the requisite vesting period of the awards. The performance conditions require management to make assumptions regarding the likelihood of achieving certain performance goals. Changes in these performance assumptions, as well as differences in actual results from management’s estimates, could result in estimated or actual values different from previously estimated fair values. Refer to Note 21. Share-Based Compensation for additional information. |
Business Combinations Policy | Business combinations —The Company accounts for its business combinations in accordance with the accounting guidance in FASB ASC 805, Business Combinations . The purchase price of an acquired business is allocated to its identifiable assets and liabilities based on estimated fair values. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. Determining the fair values of assets acquired and liabilities assumed requires management’s judgment, the utilization of independent appraisal firms and often involves the use of significant estimates and assumptions with respect to the timing and amount of future cash flows, market rate assumptions, actuarial assumptions, and appropriate discount rates, among other items. Refer to Note 20. Acquisitions and Divestitures for additional information. |
Recently Issued Accounting Pronouncements, Policy | Recently adopted accounting pronouncements —Aptiv adopted Accounting Standards Update (“ASU”) 2016-02, Leases , in the first quarter of 2019 using the optional transition method. This guidance requires lessees to recognize a lease liability and a right-of-use asset for all leases, with the exception of short-term leases with terms of twelve months or less. The lease liability represents the lessee’s obligation to make lease payments arising from a lease, and is measured as the present value of the lease payments. The right-of-use asset represents the lessee’s right to use a specified asset for the lease term, and is measured at the lease liability amount, adjusted for lease prepayment, lease incentives received and the lessee’s initial direct costs. Under the optional transition method, the Company’s reporting for the comparative periods in the consolidated financial statements continues to be in accordance with ASC Topic 840, Leases (“ASC 840”). The adoption of this guidance resulted in the recording of operating lease right-of-use assets and operating lease liabilities in the consolidated balance sheet as of January 1, 2019 and did not have a significant impact on the Company’s results of operations or cash flows. As permitted by ASU 2016-02, Aptiv elected to apply the package of practical expedients allowing the Company to not reassess whether any expired or existing contracts are, or contain, leases, the lease classification for any expired or existing leases or initial direct costs for any expired or existing leases. Aptiv did not elect to apply the hindsight practical expedient allowing the Company to use hindsight when determining the lease term (i.e., evaluating the Company’s option to renew or terminate the lease or to purchase the underlying asset) and assessing impairment of expired or existing leases. Aptiv elected to apply the land easements practical expedient allowing the Company to not assess whether any expired or existing land easements are, or contain, leases if they were not previously accounted for as leases under ASC 840. Instead, Aptiv will continue to apply its existing accounting policies to historical land easements. Aptiv also elected to apply the short-term lease exception, therefore Aptiv will not record a right-of-use asset or corresponding lease liability for leases with a term of twelve months or less and instead will recognize a single lease cost allocated over the lease term, generally on a straight-line basis. Additionally, Aptiv elected the practical expedient to not separate lease components from non-lease components and instead accounts for both as a single lease component for all asset classes. Refer to Note 27. Leases for additional information. Aptiv adopted ASU 2017-12, Derivatives and Hedging—Targeted Improvements to Accounting for Hedging Activities , in the first quarter of 2019. This guidance expands and refines the application of hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The adoption of this guidance did not have a significant impact on Aptiv’s financial statements. Refer to Note 17. Derivatives and Hedging Activities for further information regarding derivatives. Aptiv adopted ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , in the first quarter of 2019. This guidance allows for the elimination of the stranded income tax effects resulting from the enactment of the Tax Cuts and Jobs Act (the “Tax Legislation”) through a reclassification from accumulated other comprehensive income (“OCI”) to retained earnings. Upon adoption, Aptiv recorded an increase to retained earnings of $9 million and a corresponding decrease to accumulated OCI during the year ended December 31, 2019 . Aptiv adopted ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , in the fourth quarter of 2019. This guidance simplifies various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period for which financial statements have not yet been issued. Certain amendments may be applied on a retrospective, modified retrospective or prospective basis. As permitted, the Company elected to early adopt this guidance for the year ended December 31, 2019. The adoption of this guidance did not have a significant impact on Aptiv’s financial statements and primarily resulted in the reclassification of an immaterial amount from non-income tax expense to income tax expense related to the accounting for franchise taxes, with no impact to Aptiv’s consolidated net income, equity or cash flows. Recently issued accounting pronouncements not yet adopted —In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. This guidance also requires enhanced disclosures regarding significant estimates and judgments used in estimating credit losses. The guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of this guidance is not expected to have a significant impact on Aptiv’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . This guidance simplifies how an entity is required to test goodwill for impairment by eliminating step two from the goodwill impairment test, which measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount. Under the new guidance, if a reporting unit’s carrying amount exceeds its estimated fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The standard will be applied prospectively and is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted. As this standard is prospective in nature, the impact to Aptiv’s consolidated financial statements will depend on various factors associated with the Company’s assessment of goodwill for impairment in those future periods. The adoption of this guidance is not expected to have a significant impact on Aptiv’s consolidated financial statements. |
Pensions, Policy | Certain of Aptiv’s non-U.S. subsidiaries sponsor defined benefit pension plans, which generally provide benefits based on negotiated amounts for each year of service. Aptiv’s primary non-U.S. plans are located in France, Germany, Mexico, Portugal and the U.K. The U.K. and certain Mexican plans are funded. In addition, Aptiv has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded over the requisite service period. Aptiv sponsors a Supplemental Executive Retirement Program (“SERP”) for those employees who were U.S. executives of DPHH prior to September 30, 2008 and were still U.S. executives of the Company on October 7, 2009, the effective date of the program. This program is unfunded. Executives receive benefits over 5 years after an involuntary or voluntary separation from Aptiv. The SERP is closed to new members. |
Fair Value Measurement, Policy | Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are based on one or more of the following three valuation techniques: Market —This approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Income —This approach uses valuation techniques to convert future amounts to a single present value amount based on current market expectations. Cost —This approach is based on the amount that would be required to replace the service capacity of an asset (replacement cost). Aptiv uses the following fair value hierarchy prescribed by GAAP, which prioritizes the inputs used to measure fair value as follows: Level 1 —Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Typically, assets and liabilities are considered to be fair valued on a recurring basis if fair value is measured regularly. However, if the fair value measurement of an instrument does not necessarily result in a change in the amount recorded on the consolidated balance sheets, assets and liabilities are considered to be fair valued on a nonrecurring basis. This generally occurs when accounting guidance requires assets and liabilities to be recorded at the lower of cost or fair value, or assessed for impairment. |
Guarantor, Policy | In lieu of providing separate audited financial statements for the Guarantors, the Company has included the accompanying condensed consolidating financial statements. These condensed consolidating financial statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiary’s cumulative results of operations, capital contributions and distributions and other equity changes. The Non-Guarantor Subsidiaries are combined in the condensed consolidating financial statements. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions. |
Segment Reporting, Policy | The accounting policies of the segments are the same as those described in Note 2. Significant Accounting Policies, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for which Aptiv’s chief operating decision maker regularly reviews financial results to assess performance of, and make internal operating decisions about allocating resources to, the segments. Generally, Aptiv evaluates segment performance based on stand-alone segment net income before interest expense, other income (expense), net, income tax expense, equity income (loss), net of tax, income (loss) from discontinued operations, net of tax, restructuring, other acquisition and portfolio project costs (which includes costs incurred to integrate acquired businesses and to plan and execute product portfolio transformation actions, including business and product acquisitions and divestitures), asset impairments, gains (losses) on business divestitures and deferred compensation related to acquisitions (“Adjusted Operating Income”) and accounts for inter-segment sales and transfers as if the sales or transfers were to third parties, at current market prices. Aptiv’s management utilizes Adjusted Operating Income as the key performance measure of segment income or loss to evaluate segment performance, and for planning and forecasting purposes to allocate resources to the segments, as management believes this measure is most reflective of the operational profitability or loss of Aptiv’s operating segments. Segment Adjusted Operating Income should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered an alternative to net income attributable to Aptiv, which is the most directly comparable financial measure to Adjusted Operating Income that is prepared in accordance with U.S. GAAP. Segment Adjusted Operating Income, as determined and measured by Aptiv, should also not be compared to similarly titled measures reported by other companies. |
Revenue Revenue Recognition (Po
Revenue Revenue Recognition (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue [Policy Text Block] | Revenue recognition —Revenue is measured based on consideration specified in a contract with a customer. Customer contracts generally are represented by a combination of a current purchase order and a current production schedule issued by the customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. From time to time, Aptiv enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost saving targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. In addition, from time to time, Aptiv makes payments to customers in conjunction with ongoing business. These payments to customers are generally recognized as a reduction to revenue at the time of the commitment to make these payments. However, certain other payments to customers, or upfront fees, meet the criteria to be considered a cost to obtain a contract as they are directly attributable to a contract, are incremental and management expects the fees to be recoverable. Aptiv collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with a revenue-producing transaction between the Company and the Company’s customers. These taxes may include, but are not limited to, sales, use, value-added, and some excise taxes. Aptiv reports the collection of these taxes on a net basis (excluded from revenues). Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales. Refer to Note 26. Revenue for further information. Revenue is recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Accordingly, revenue is measured based on consideration specified in a contract with a customer. Customer contracts generally are represented by a combination of a current purchase order and a current production schedule issued by the customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. From time to time, Aptiv enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost savings targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by Aptiv from a customer are excluded from revenue. Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales. Nature of Goods and Services The principal activity from which the Company generates its revenue is the manufacturing of production parts for OEM customers. Aptiv recognizes revenue at a point in time, rather than over time, as the performance obligation is satisfied when customers obtain control of the product upon title transfer and not as the product is manufactured or developed. Aptiv recognizes revenue for production parts at a point in time as title transfers to the customer. Although production parts are highly customized with no alternative use, Aptiv does not have an enforceable right to payment as customers have the right to cancel a product program without a notification period. The amount of revenue recognized is based on the purchase order price and adjusted for revenue allocated to variable consideration (i.e. estimated rebates and price discounts), as applicable. Customers typically pay for production parts based on customary business practices with payment terms averaging 60 days. |
Leases (Policies)
Leases (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases, Policy | The Company has operating and finance leases for real estate, office equipment, automobiles, forklifts and certain other equipment. The Company's leases have remaining lease terms of 1 year to 30 years, some of which include options to extend the leases for up to 8 years, and some of which include options to terminate the leases within 1 year. Certain of our lease agreements include rental payments which are adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. When available, we use the rate implicit in the lease to discount lease payments to present value; however, most of our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. The incremental borrowing rate is not a quoted rate and is derived by applying a spread over U.S. Treasury rates with a similar duration to the Company’s lease payments. The spread utilized is based on the Company’s credit rating and the impact of full collateralization. |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | As reflected in the table below, net sales to GM, VW and FCA, Aptiv’s three largest customers, totaled approximately 27% , 29% and 29% of our total net sales for the years ended December 31, 2019 , 2018 and 2017 , respectively. Percentage of Total Net Sales Accounts and Other Receivables Year Ended December 31, December 31, December 31, 2019 2018 2017 (in millions) GM (1) 9 % 11 % 13 % $ 205 $ 169 VW 9 % 9 % 9 % 135 149 FCA 9 % 9 % 7 % 207 175 (1) Net sales to GM includes net sales to GM’s former European Opel business prior to its sale to PSA on August 1, 2017, after which date these sales are excluded from net sales to GM. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current | A summary of inventories is shown below: December 31, December 31, (in millions) Productive material $ 706 $ 724 Work-in-process 102 101 Finished goods 478 452 Total $ 1,286 $ 1,277 |
Assets (Tables)
Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Other Current Assets | Other current assets consisted of the following: December 31, December 31, (in millions) Value added tax receivable $ 205 $ 185 Prepaid insurance and other expenses 88 72 Reimbursable engineering costs 101 47 Notes receivable 10 43 Income and other taxes receivable 45 73 Deposits to vendors 4 4 Derivative financial instruments (Note 17) 30 6 Capitalized upfront fees (Note 26) 20 8 Other 1 7 Total $ 504 $ 445 |
Schedule of Other Assets, Noncurrent | Other long-term assets consisted of the following: December 31, December 31, (in millions) Deferred income taxes, net (Note 14) $ 164 $ 143 Unamortized Revolving Credit Facility debt issuance costs (Note 11) 3 6 Income and other taxes receivable 45 6 Reimbursable engineering costs 217 137 Value added tax receivable 59 38 Equity investments (Note 5) 101 72 Derivative financial instruments (Note 17) 8 2 Capitalized upfront fees (Note 26) 79 64 Other 43 53 Total $ 719 $ 521 |
Investments in Affiliates (Tabl
Investments in Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Equity Method Investments | The following is a summary of the combined financial information of significant affiliates accounted for under the equity method for continuing operations as of December 31, 2019 and 2018 and for the years ended December 31, 2019 , 2018 and 2017 (unaudited): December 31, 2019 2018 (in millions) Current assets $ 231 $ 222 Non-current assets 126 124 Total assets $ 357 $ 346 Current liabilities $ 92 $ 99 Non-current liabilities 10 7 Shareholders’ equity 255 240 Total liabilities and shareholders’ equity $ 357 $ 346 Year Ended December 31, 2019 2018 2017 (in millions) Net sales $ 531 $ 533 $ 570 Gross profit 59 84 111 Net income 35 53 66 |
Schedule of Related Party Transactions | A summary of transactions with affiliates is shown below: Year Ended December 31, 2019 2018 2017 (in millions) Sales to affiliates $ 6 $ 7 $ 8 Purchases from affiliates 37 38 19 |
Schedule of Technology Investments | As of December 31, 2019 , the Company had the following technology investments, which are classified within other long-term assets in the consolidated balance sheets: Investment Name Segment Investment Date Investment (in millions) Krono-Safe, SAS Advanced Safety and User Experience Q4 2019 $ 6 Affectiva, Inc. Advanced Safety and User Experience Q4 2018 15 Innoviz Technologies Advanced Safety and User Experience Q3 2017 15 LeddarTech, Inc. Advanced Safety and User Experience Q3 2017 10 Valens Semiconductor Ltd. Signal and Power Solutions Q2 2017 10 Otonomo Technologies Ltd. Advanced Safety and User Experience Q1 2017; Q1 2019 37 Quanergy Systems, Inc Advanced Safety and User Experience Q2 2015; Q1 2016 6 Other investments Advanced Safety and User Experience Q4 2018; Q3 2019 2 $ 101 |
Property, Net (Tables)
Property, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant and Equipment | Property, net consisted of: Estimated Useful Lives December 31, 2019 2018 (Years) (in millions) Land — $ 81 $ 78 Land and leasehold improvements 3-20 163 170 Buildings 40 646 582 Machinery, equipment and tooling 3-20 4,057 3,594 Furniture and office equipment 3-10 648 562 Construction in progress — 322 357 Total 5,917 5,343 Less: accumulated depreciation (2,608 ) (2,164 ) Total property, net $ 3,309 $ 3,179 |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill [Line Items] | |
Schedule of Acquired Finite and Infinite-Lived Intangible Assets and Goodwill by Major Class | The changes in the carrying amount of intangible assets and goodwill were as follows as of December 31, 2019 and 2018 . See Note 20. Acquisitions and Divestitures for a further description of the goodwill and intangible assets resulting from Aptiv’s acquisitions in 2019 and 2018 . As of December 31, 2019 As of December 31, 2018 Estimated Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (Years) (in millions) (in millions) Amortized intangible assets: Patents and developed technology 3-15 $ 656 $ 415 $ 241 $ 647 $ 371 $ 276 Customer relationships 5-14 1,130 375 755 1,046 261 785 Trade names 15-20 73 44 29 66 35 31 Total 1,859 834 1,025 1,759 667 1,092 Unamortized intangible assets: In-process research and development — — — — 126 — 126 Trade names — 161 — 161 162 — 162 Goodwill — 2,407 — 2,407 2,524 — 2,524 Total $ 4,427 $ 834 $ 3,593 $ 4,571 $ 667 $ 3,904 |
Schedule of Finite-Lived Intangible Assets Amortization Expense | Estimated amortization expense for the years ending December 31, 2020 through 2024 is presented below: Year Ending December 31, 2020 2021 2022 2023 2024 (in millions) Estimated amortization expense $ 145 $ 145 $ 141 $ 118 $ 104 |
Schedule of Gross Carrying Amounts of Intangible Assets and Goodwill | A roll-forward of the gross carrying amounts of intangible assets for the years ended December 31, 2019 and 2018 is presented below. 2019 2018 (in millions) Balance at January 1 $ 4,571 $ 3,731 Acquisitions (1) 316 1,000 Impairment (2) — (20 ) Reclassified as held for sale (445 ) — Foreign currency translation and other (15 ) (140 ) Balance at December 31 $ 4,427 $ 4,571 (1) Primarily attributable to the 2019 acquisitions of gabocom and Falmat, and the 2018 acquisitions of KUM and Winchester, as further described in Note 20. Acquisitions and Divestitures. (2) Primarily attributable to the impairment of certain indefinite-lived in-process research and development assets within the Advanced Safety and User Experience segment during the year ended December 31, 2018 , which is included within amortization in the consolidated statements of operations. The fair value of the impaired assets was determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of other market indicators and management estimates. |
Schedule of Accumulated Amortization of Intangible Assets and Goodwill | A roll-forward of the accumulated amortization for the years ended December 31, 2019 and 2018 is presented below: 2019 2018 (in millions) Balance at January 1 $ 667 $ 568 Amortization 138 124 Impairment (1) 8 10 Reclassified as held for sale (1 ) — Foreign currency translation and other 22 (35 ) Balance at December 31 $ 834 $ 667 (1) Primarily attributable to the impairment of certain definite-lived trade name assets within the Advanced Safety and User Experience segment during the years ended December 31, 2019 and 2018 , which is included within amortization in the consolidated statements of operations. The fair value of the impaired assets was determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of other market indicators and management estimates. |
Schedule of Goodwill | A roll-forward of the carrying amount of goodwill, by operating segment, for the years ended December 31, 2019 and 2018 is presented below: Signal and Power Solutions Advanced Safety and User Experience Total (in millions) Balance at January 1, 2018 $ 1,594 $ 350 $ 1,944 Acquisitions (1) 657 — 657 Foreign currency translation and other (71 ) (6 ) (77 ) Balance at December 31, 2018 $ 2,180 $ 344 $ 2,524 Acquisitions (2) $ 229 $ — $ 229 Reclassified as held for sale — (318 ) (318 ) Foreign currency translation and other (28 ) — (28 ) Balance at December 31, 2019 $ 2,381 $ 26 $ 2,407 (1) Primarily attributable to the acquisitions of KUM and Winchester, as further described in Note 20. Acquisitions and Divestitures. (2) Primarily attributable to the acquisitions of gabocom and Falmat, as further described in Note 20. Acquisitions and Divestitures. |
Liabilities (Tables)
Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Liabilities Disclosure [Abstract] | |
Accrued Liabilities | Accrued liabilities consisted of the following: December 31, December 31, (in millions) Payroll-related obligations $ 226 $ 235 Employee benefits, including current pension obligations 97 96 Income and other taxes payable 180 187 Warranty obligations (Note 9) 29 33 Restructuring (Note 10) 86 55 Customer deposits 43 36 Derivative financial instruments (Note 17) 4 19 Accrued interest 47 42 Deferred compensation related to nuTonomy acquisition (Note 20) 35 31 Operating lease liabilities (Note 27) 94 — Other 314 320 Total $ 1,155 $ 1,054 |
Liabilities, Noncurrent | Other long-term liabilities consisted of the following: December 31, December 31, (in millions) Environmental (Note 13) $ 3 $ 3 Extended disability benefits 6 5 Warranty obligations (Note 9) 8 17 Restructuring (Note 10) 48 49 Payroll-related obligations 10 10 Accrued income taxes 199 201 Deferred income taxes, net (Note 14) 229 233 Derivative financial instruments (Note 17) — 9 Deferred compensation related to nuTonomy acquisition (Note 20) — 18 Other 108 88 Total $ 611 $ 633 |
Warranty Obligations (Tables)
Warranty Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Product Warranties Disclosures [Abstract] | |
Schedule of Product Warranty Liability | The table below summarizes the activity in the product warranty liability for the years ended December 31, 2019 and 2018 : Year Ended December 31, 2019 2018 (in millions) Accrual balance at beginning of year $ 50 $ 58 Provision for estimated warranties incurred during the year 39 39 Changes in estimate for pre-existing warranties — 5 Settlements made during the year (in cash or in kind) (52 ) (51 ) Foreign currency translation and other — (1 ) Accrual balance at end of year $ 37 $ 50 |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring and Related Costs | The following table summarizes the restructuring charges recorded for the years ended December 31, 2019 , 2018 and 2017 by operating segment: Year Ended December 31, 2019 2018 2017 (in millions) Signal and Power Solutions $ 104 $ 90 $ 67 Advanced Safety and User Experience 44 19 62 Total $ 148 $ 109 $ 129 |
Schedule of Restructuring Reserve by Type of Cost | The table below summarizes the activity in the restructuring liability for the years ended December 31, 2019 and 2018 : Employee Termination Benefits Liability Other Exit Costs Liability Total (in millions) Accrual balance at January 1, 2018 $ 131 $ 1 $ 132 Provision for estimated expenses incurred during the year 109 — 109 Payments made during the year (134 ) (1 ) (135 ) Foreign currency and other (2 ) — (2 ) Accrual balance at December 31, 2018 $ 104 $ — $ 104 Provision for estimated expenses incurred during the year $ 148 $ — $ 148 Payments made during the year (119 ) — (119 ) Foreign currency and other 1 — 1 Accrual balance at December 31, 2019 $ 134 $ — $ 134 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | The following is a summary of debt outstanding, net of unamortized issuance costs and discounts, as of December 31, 2019 and 2018 : December 31, 2019 2018 (in millions) Accounts receivable factoring $ 266 $ 279 Revolving Credit Facility 90 — 3.15%, senior notes, due 2020 (net of $0 and $1 unamortized issuance costs and $0 and $1 discount, respectively) — 648 4.15%, senior notes, due 2024 (net of $2 and $3 unamortized issuance costs and $1 and $1 discount, respectively) 697 696 1.50%, Euro-denominated senior notes, due 2025 (net of $3 and $3 unamortized issuance costs and $2 and $3 discount, respectively) 779 795 4.25%, senior notes, due 2026 (net of $3 and $3 unamortized issuance costs, respectively) 647 647 1.60%, Euro-denominated senior notes, due 2028 (net of $3 and $3 unamortized issuance costs and $0 and $1 discount, respectively) 556 568 4.35%, senior notes, due 2029 (net of $3 and $0 unamortized issuance costs, respectively) 297 — 4.40%, senior notes, due 2046 (net of $3 and $3 unamortized issuance costs and $2 and $2 discount, respectively) 295 295 5.40%, senior notes, due 2049 (net of $4 and $0 unamortized issuance costs and $1 and $0 discount, respectively) 345 — Tranche A Term Loan, due 2021 (net of $1 and $1 unamortized issuance costs, respectively) 359 384 Finance leases and other 33 32 Total debt 4,364 4,344 Less: current portion (393 ) (306 ) Long-term debt $ 3,971 $ 4,038 |
Schedule of Maturities of Long-term Debt | The principal maturities of debt, at nominal value, are as follows: Debt and Finance Lease Obligations (in millions) 2020 $ 393 2021 343 2022 3 2023 2 2024 702 Thereafter 2,949 Total $ 4,392 |
Schedule of Interest Rates | The Applicable Rates under the Credit Agreement on the specified dates are set forth below: December 31, 2019 December 31, 2018 LIBOR plus ABR plus LIBOR plus ABR plus Revolving Credit Facility 1.10 % 0.10 % 1.10 % 0.10 % Tranche A Term Loan 1.25 % 0.25 % 1.25 % 0.25 % |
Schedule of Line of Credit Facilities | As of December 31, 2019 , Aptiv selected the one-month LIBOR interest rate option on the Tranche A Term Loan, and the rate effective as of December 31, 2019 , as detailed in the table below, was based on the Company’s current credit rating and the Applicable Rate for the Credit Agreement: Borrowings as of December 31, 2019 Rates effective as of Applicable Rate (in millions) December 31, 2019 Revolving Credit Facility ABR plus 0.10% $ 40 4.85 % Revolving Credit Facility LIBOR plus 1.10% $ 50 2.85 % Tranche A Term Loan LIBOR plus 1.25% $ 360 3.00 % |
Pension Benefits (Tables)
Pension Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Accumulated and Projected Benefit Obligations | The projected benefit obligation (“PBO”), accumulated benefit obligation (“ABO”), and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets and with plan assets in excess of accumulated benefit obligations are as follows: U.S. Plans Non-U.S. Plans 2019 2018 2019 2018 (in millions) Plans with ABO in Excess of Plan Assets PBO $ 11 $ 18 $ 770 $ 699 ABO 11 18 721 655 Fair value of plan assets at end of year — — 291 258 Plans with Plan Assets in Excess of ABO PBO $ — $ — $ 130 $ 110 ABO — — 97 85 Fair value of plan assets at end of year — — 112 104 Total PBO $ 11 $ 18 $ 900 $ 809 ABO 11 18 818 740 Fair value of plan assets at end of year — — 403 362 |
Schedule of Assumptions Used | Assumptions used to determine benefit obligations at December 31: Pension Benefits U.S. Plans Non-U.S. Plans 2019 2018 2019 2018 Weighted-average discount rate 2.40 % 3.80 % 2.87 % 3.53 % Weighted-average rate of increase in compensation levels N/A N/A 3.69 % 3.74 % Assumptions used to determine net expense for years ended December 31: Pension Benefits U.S. Plans Non-U.S. Plans 2019 2018 2017 2019 2018 2017 Weighted-average discount rate 3.80 % 2.70 % 2.70 % 3.53 % 3.39 % 2.83 % Weighted-average rate of increase in compensation levels N/A N/A N/A 3.74 % 3.65 % 3.86 % Weighted-average expected long-term rate of return on plan assets N/A N/A N/A 4.95 % 5.63 % 5.84 % |
Schedule of Change in Assumptions Used | Aptiv’s pension expense for 2020 is determined at the 2019 year end measurement date. For purposes of analysis, the following table highlights the sensitivity of the Company’ pension obligations and expense attributable to continuing operations to changes in key assumptions: Change in Assumption Impact on Pension Expense Impact on PBO 25 basis point (“bp”) decrease in discount rate + $2 million + $31 million 25 bp increase in discount rate - $2 million - $30 million 25 bp decrease in long-term expected return on assets + $1 million — 25 bp increase in long-term expected return on assets - $1 million — |
Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Projected Pension Benefit Payments U.S. Plans Non-U.S. Plans (in millions) 2020 $ 5 $ 55 2021 3 35 2022 1 38 2023 1 43 2024 1 44 2025 – 2029 1 273 |
Schedule of Allocation of Plan Assets | The fair values of Aptiv’s pension plan assets weighted-average asset allocations at December 31, 2019 and 2018 , by asset category, are as follows: Fair Value Measurements at December 31, 2019 Asset Category Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in millions) Cash $ 21 $ 21 $ — $ — Time deposits 25 — 25 — Equity mutual funds 31 — 31 — Bond mutual funds 174 — 174 — Real estate trust funds 31 — — 31 Hedge funds 15 — — 15 Insurance contracts 7 — — 7 Debt securities 57 57 — — Equity securities 42 42 — — Total $ 403 $ 120 $ 230 $ 53 Fair Value Measurements at December 31, 2018 Asset Category Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in millions) Cash $ 22 $ 22 $ — $ — Time deposits 23 — 23 — Equity mutual funds 25 — 25 — Bond mutual funds 148 — 148 — Real estate trust funds 24 — — 24 Hedge funds 21 — — 21 Insurance contracts 6 — — 6 Debt securities 53 53 — — Equity securities 40 40 — — Total $ 362 $ 115 $ 196 $ 51 |
Schedule of Level Three Defined Benefit Plan Assets Roll Forward | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Real Estate Trust Fund Hedge Funds Insurance Contracts (in millions) Beginning balance at January 1, 2018 $ 13 $ 27 $ 6 Actual return on plan assets: Relating to assets still held at the reporting date 2 — — Purchases, sales and settlements 9 (4 ) — Foreign currency translation and other — (2 ) — Ending balance at December 31, 2018 $ 24 $ 21 $ 6 Actual return on plan assets: Relating to assets still held at the reporting date $ — $ (1 ) $ — Purchases, sales and settlements 6 (6 ) — Foreign currency translation and other 1 1 1 Ending balance at December 31, 2019 $ 31 $ 15 $ 7 |
United States | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Funded Status | The amounts shown below reflect the change in the U.S. defined benefit pension obligations during 2019 and 2018 . Year Ended December 31, 2019 2018 (in millions) Benefit obligation at beginning of year $ 18 $ 29 Interest cost 1 1 Actuarial gain — (2 ) Benefits paid (8 ) (10 ) Benefit obligation at end of year 11 18 Change in plan assets: Fair value of plan assets at beginning of year — — Aptiv contributions 8 10 Benefits paid (8 ) (10 ) Fair value of plan assets at end of year — — Underfunded status (11 ) (18 ) Amounts recognized in the consolidated balance sheets consist of: Current liabilities (4 ) (7 ) Non-current liabilities (7 ) (11 ) Total (11 ) (18 ) Amounts recognized in accumulated other comprehensive loss consist of (pre-tax): Actuarial loss 7 8 Total $ 7 $ 8 |
Schedule of Net Benefit Costs | Benefit costs presented below were determined based on actuarial methods and included the following, which include the results of discontinued operations for the year ended December 31, 2017: U.S. Plans Year Ended December 31, 2019 2018 2017 (in millions) Interest cost $ 1 $ 1 $ 1 Amortization of actuarial losses 1 1 1 Net periodic benefit cost $ 2 $ 2 $ 2 |
Non-U.S. Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Funded Status | The amounts shown below reflect the change in the non-U.S. defined benefit pension obligations during 2019 and 2018 . Year Ended December 31, 2019 2018 (in millions) Benefit obligation at beginning of year $ 809 $ 835 Obligation assumed in KUM acquisition — 25 Service cost 17 17 Interest cost 25 23 Actuarial loss (gain) 79 (4 ) Benefits paid (33 ) (30 ) Impact of curtailments 7 (1 ) Plan amendments — 6 Exchange rate movements and other (4 ) (62 ) Benefit obligation at end of year 900 809 Change in plan assets: Fair value of plan assets at beginning of year 362 377 Assets acquired in KUM acquisition — 19 Actual return on plan assets 40 (6 ) Aptiv contributions 30 38 Benefits paid (33 ) (30 ) Exchange rate movements and other 4 (36 ) Fair value of plan assets at end of year 403 362 Underfunded status (497 ) (447 ) Amounts recognized in the consolidated balance sheets consist of: Non-current assets 2 2 Current liabilities (25 ) (17 ) Non-current liabilities (474 ) (432 ) Total (497 ) (447 ) Amounts recognized in accumulated other comprehensive loss consist of (pre-tax): Actuarial loss 188 143 Prior service cost 5 6 Total $ 193 $ 149 |
Schedule of Net Benefit Costs | Non-U.S. Plans Year Ended December 31, 2019 2018 2017 (in millions) Service cost $ 17 $ 17 $ 48 Interest cost 25 23 54 Expected return on plan assets (18 ) (22 ) (63 ) Settlement loss 1 3 1 Curtailment loss (gain) 7 (1 ) 16 Amortization of actuarial losses 9 13 35 Other 1 — — Net periodic benefit cost $ 42 $ 33 $ 91 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign | Income from continuing operations before income taxes and equity income for U.S. and non-U.S. operations are as follows: Year Ended December 31, 2019 2018 2017 (in millions) U.S. (loss) income $ (1 ) $ 369 $ (32 ) Non-U.S. income 1,127 965 1,287 Income from continuing operations before income taxes and equity income $ 1,126 $ 1,334 $ 1,255 |
Schedule of Components of Income Tax Expense (Benefit) | The provision (benefit) for income taxes from continuing operations is comprised of: Year Ended December 31, 2019 2018 2017 (in millions) Current income tax expense (benefit): U.S. federal $ 8 $ 40 $ 37 Non-U.S. 156 214 214 U.S. state and local 1 10 (2 ) Total current 165 264 249 Deferred income tax expense (benefit), net: U.S. federal (23 ) 13 (15 ) Non-U.S. (8 ) (16 ) (12 ) U.S. state and local (2 ) (11 ) 1 Total deferred (33 ) (14 ) (26 ) Total income tax provision $ 132 $ 250 $ 223 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the provision for income taxes compared with the amounts at the notional U.S. federal statutory rate was: Year Ended December 31, 2019 2018 2017 (in millions) Notional U.S. federal income taxes at statutory rate $ 236 $ 280 $ 439 Income taxed at other rates (92 ) (106 ) (260 ) Change in valuation allowance (18 ) (4 ) (6 ) Other change in tax reserves 20 36 25 Withholding taxes 19 28 64 Tax credits (18 ) (18 ) (32 ) Change in tax law 1 26 (6 ) Other adjustments (16 ) 8 (1 ) Total income tax expense $ 132 $ 250 $ 223 Effective tax rate 12 % 19 % 18 % |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows: December 31, 2019 2018 (in millions) Deferred tax assets: Pension $ 95 $ 88 Employee benefits 43 43 Net operating loss carryforwards 993 1,089 Warranty and other liabilities 72 63 Operating lease right-of-use assets 84 — Other 149 136 Total gross deferred tax assets 1,436 1,419 Less: valuation allowances (1,075 ) (1,178 ) Total deferred tax assets (1) $ 361 $ 241 Deferred tax liabilities: Fixed assets $ 48 $ 38 Tax on unremitted profits of certain foreign subsidiaries 56 59 Intangibles 238 234 Operating lease liabilities 84 — Total gross deferred tax liabilities 426 331 Net deferred tax liabilities $ (65 ) $ (90 ) (1) Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities. |
Schedule of Deferred Tax Assets and Liabilities, Balance Sheet Location | Net deferred tax assets and liabilities are included in the consolidated balance sheets as follows: December 31, 2019 2018 (in millions) Long-term assets $ 164 $ 143 Long-term liabilities (229 ) (233 ) Total deferred tax liability $ (65 ) $ (90 ) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the gross change in the unrecognized tax benefits balance, excluding interest and penalties is as follows: Year Ended December 31, 2019 2018 2017 (in millions) Balance at beginning of year $ 209 $ 224 $ 180 Additions related to current year 20 33 51 Additions related to prior years 51 65 40 Reductions related to prior years (46 ) (19 ) (31 ) Reductions due to expirations of statute of limitations (11 ) (78 ) (15 ) Settlements (6 ) (16 ) (1 ) Balance at end of year $ 217 $ 209 $ 224 |
Shareholders' Equity And Net _2
Shareholders' Equity And Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Shareholders' Equity and Net Income Per Share Note [Abstract] | |
Schedule of Weighted Average Number of Shares | The following table illustrates net income per share attributable to Aptiv and the weighted average shares outstanding used in calculating basic and diluted income per share: Year Ended December 31, 2019 2018 2017 (in millions, except per share data) Numerator: Income from continuing operations $ 990 $ 1,067 $ 1,021 Income from discontinued operations — — 334 Net income attributable to Aptiv $ 990 $ 1,067 $ 1,355 Denominator: Weighted average ordinary shares outstanding, basic 256.81 264.41 267.16 Dilutive shares related to RSUs 0.58 0.81 0.87 Weighted average ordinary shares outstanding, including dilutive shares 257.39 265.22 268.03 Basic net income per share: Continuing operations $ 3.85 $ 4.04 $ 3.82 Discontinued operations — — 1.25 Basic net income per share attributable to Aptiv $ 3.85 $ 4.04 $ 5.07 Diluted net income per share: Continuing operations $ 3.85 $ 4.02 $ 3.81 Discontinued operations — — 1.25 Diluted net income per share attributable to Aptiv $ 3.85 $ 4.02 $ 5.06 Anti-dilutive securities share impact — — — |
Schedule of Share Repurchases | A summary of the ordinary shares repurchased during the years ended December 31, 2019 , 2018 and 2017 is as follows: Year Ended December 31, 2019 2018 2017 Total number of shares repurchased 5,387,533 6,530,369 4,667,193 Average price paid per share $ 77.93 $ 76.44 $ 82.00 Total (in millions) $ 420 $ 499 $ 383 |
Schedule of Dividends Declared | The Company has declared and paid cash dividends per ordinary share during the periods presented as follows: Dividend Amount Per Share (in millions) 2019: Fourth quarter $ 0.22 $ 56 Third quarter 0.22 56 Second quarter 0.22 57 First quarter 0.22 57 Total $ 0.88 $ 226 2018: Fourth quarter $ 0.22 $ 58 Third quarter 0.22 58 Second quarter 0.22 58 First quarter 0.22 59 Total $ 0.88 $ 233 |
Changes in Accumulated Other _2
Changes in Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The changes in accumulated other comprehensive income (loss) attributable to Aptiv (net of tax) are shown below. Other comprehensive income includes activity relating to discontinued operations. Year Ended December 31, 2019 2018 2017 (in millions) Foreign currency translation adjustments: Balance at beginning of year $ (555 ) $ (369 ) $ (799 ) Aggregate adjustment for the year (1) (42 ) (186 ) 305 Spin-off of Delphi Technologies — — 125 Balance at end of year (597 ) (555 ) (369 ) Gains (losses) on derivatives: Balance at beginning of year $ (35 ) $ 4 $ (11 ) Other comprehensive income (loss) before reclassifications (net tax effect of $0 million, $3 million and $1 million) 50 (36 ) 14 Reclassification to income (net tax effect of $0 million, $3 million and $6 million) 6 (3 ) 1 Adoption of ASU 2018-02 (Note 2) (8 ) — — Balance at end of year 13 (35 ) 4 Pension and postretirement plans: Balance at beginning of year $ (104 ) $ (106 ) $ (405 ) Other comprehensive income (loss) before reclassifications (net tax effect of $17 million, $3 million and $3 million) (37 ) (11 ) (19 ) Reclassification to income (net tax effect of $3 million, $2 million and $6 million) 7 13 30 Spin-off of Delphi Technologies — — 288 Adoption of ASU 2018-02 (Note 2) (1 ) — — Balance at end of year (135 ) (104 ) (106 ) Accumulated other comprehensive loss, end of year $ (719 ) $ (694 ) $ (471 ) (1) Includes $29 million of gains, $67 million of gains and $177 million of losses for the years ended December 31, 2019 , 2018 and 2017 , respectively, related to non-derivative net investment hedges. Refer to Note 17. Derivatives and Hedging Activities for further description of the Company’s net investment hedges. |
Reclassifications out of Accumulated Other Comprehensive Income | Reclassifications from accumulated other comprehensive income (loss) to income were as follows: Reclassification Out of Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Comprehensive Income Components Year Ended December 31, Affected Line Item in the Statement of Operations 2019 2018 2017 (in millions) Gains (losses) on derivatives: Commodity derivatives $ (15 ) $ 14 $ 18 Cost of sales Foreign currency derivatives 9 (14 ) (25 ) Cost of sales (6 ) — (7 ) Income before income taxes — 3 6 Income tax expense (6 ) 3 (1 ) Net income — — — Net income attributable to noncontrolling interest $ (6 ) $ 3 $ (1 ) Net income attributable to Aptiv Pension and postretirement plans: Actuarial loss $ (10 ) $ (14 ) $ (35 ) Other income (expense), net (1) Settlement loss — (2 ) (1 ) Other income (expense), net (1) Curtailment gain — 1 — Other income (expense), net (1) (10 ) (15 ) (36 ) Income before income taxes 3 2 6 Income tax expense (7 ) (13 ) (30 ) Net income — — — Net income attributable to noncontrolling interest $ (7 ) $ (13 ) $ (30 ) Net income attributable to Aptiv Total reclassifications for the year $ (13 ) $ (10 ) $ (31 ) (1) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 12. Pension Benefits for additional details). |
Derivatives And Hedging Activ_2
Derivatives And Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | As of December 31, 2019 , the Company had the following outstanding notional amounts related to commodity and foreign currency forward and option contracts designated as cash flow hedges that were entered into to hedge forecasted exposures: Commodity Quantity Hedged Unit of Measure Notional Amount (Approximate USD Equivalent) (in thousands) (in millions) Copper 73,487 pounds $ 200 Foreign Currency Quantity Hedged Unit of Measure Notional Amount (Approximate USD Equivalent) (in millions) Mexican Peso 16,624 MXN $ 880 Chinese Yuan Renminbi 2,957 RMB 425 Euro 208 EUR 235 Polish Zloty 521 PLN 135 New Turkish Lira 21 TRY 5 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The fair value of derivative financial instruments recorded in the consolidated balance sheets as of December 31, 2019 and 2018 are as follows: Asset Derivatives Liability Derivatives Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet Balance Sheet Location December 31, Balance Sheet Location December 31, December 31, (in millions) Derivatives designated as cash flow hedges: Commodity derivatives Other current assets $ 1 Accrued liabilities $ 3 Foreign currency derivatives* Other current assets 35 Other current assets 6 $ 29 Commodity derivatives Other long-term assets 2 Other long-term liabilities — Foreign currency derivatives* Other long-term assets 8 Other long-term assets 2 6 Total derivatives designated as hedges $ 46 $ 11 Derivatives not designated: Foreign currency derivatives* Accrued liabilities $ — Accrued liabilities $ 1 (1 ) Total derivatives not designated as hedges $ — $ 1 Asset Derivatives Liability Derivatives Net Amounts of Assets and (Liabilities) Presented in the Balance Sheet Balance Sheet Location December 31, 2018 Balance Sheet Location December 31, 2018 December 31, 2018 (in millions) Derivatives designated as cash flow hedges: Commodity derivatives Other current assets $ — Accrued liabilities $ 15 Foreign currency derivatives* Other current assets 9 Other current assets 3 $ 6 Foreign currency derivatives* Accrued liabilities — Accrued liabilities 4 (4 ) Commodity derivatives Other long-term assets — Other long-term liabilities 7 Foreign currency derivatives* Other long-term assets 2 Other long-term assets — 2 Foreign currency derivatives* Other long-term liabilities — Other long-term liabilities 2 (2 ) Total derivatives designated as hedges $ 11 $ 31 * Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts. |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The pre-tax effect of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the year ended December 31, 2019 is as follows: Year Ended December 31, 2019 Gain (Loss) Recognized in OCI (Loss) Gain Reclassified from OCI into Income (in millions) Derivatives designated as cash flow hedges: Commodity derivatives $ 7 $ (15 ) Foreign currency derivatives 44 9 Derivatives designated as net investment hedges: Foreign currency derivatives (1 ) — Total $ 50 $ (6 ) Gain Recognized in Income (in millions) Derivatives not designated: Foreign currency derivatives $ 1 Total $ 1 The pre-tax effect of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the year ended December 31, 2018 is as follows: Year Ended December 31, 2018 (Loss) Gain Recognized in OCI Gain (Loss) Reclassified from OCI into Income (in millions) Derivatives designated as cash flow hedges: Commodity derivatives $ (45 ) $ 14 Foreign currency derivatives 14 (14 ) Derivatives designated as net investment hedges: Foreign currency derivatives (2 ) — Total $ (33 ) $ — Gain Recognized in Income (in millions) Derivatives not designated: Foreign currency derivatives $ 2 Total $ 2 The pre-tax effect of derivative financial instruments in the consolidated statements of operations and consolidated statements of comprehensive income for the year ended December 31, 2017 is as follows: Year Ended December 31, 2017 Gain (Loss) Recognized in OCI Gain (Loss) Reclassified from OCI into Income (in millions) Derivatives designated as cash flow hedges: Commodity derivatives $ 45 $ 18 Foreign currency derivatives 4 (27 ) Derivatives designated as net investment hedges: Foreign currency derivatives (34 ) 2 Total $ 15 $ (7 ) Loss Recognized in Income (in millions) Derivatives not designated: Foreign currency derivatives $ (5 ) Total $ (5 ) |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis | As of December 31, 2019 and 2018 , Aptiv had the following assets measured at fair value on a recurring basis: Total Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 (in millions) As of December 31, 2019 Commodity derivatives $ 3 $ — $ 3 $ — Foreign currency derivatives 35 — 35 — Total $ 38 $ — $ 38 $ — As of December 31, 2018 Foreign currency derivatives $ 8 $ — $ 8 $ — Total $ 8 $ — $ 8 $ — |
Fair Value, Liabilities Measured on Recurring Basis | As of December 31, 2019 and 2018 , Aptiv had the following liabilities measured at fair value on a recurring basis: Total Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 (in millions) As of December 31, 2019 Commodity derivatives $ 3 $ — $ 3 $ — Foreign currency derivatives 1 — 1 — Contingent consideration 51 — — 51 Total $ 55 $ — $ 4 $ 51 As of December 31, 2018 Commodity derivatives $ 22 $ — $ 22 $ — Foreign currency derivatives 6 — 6 — Contingent consideration 49 — — 49 Total $ 77 $ — $ 28 $ 49 |
Changes in Fair Value of Liabilities Measured on Recurring Basis with Unobservable Inputs | The changes in the contingent consideration liability classified as a Level 3 measurement for the years ended December 31, 2019 and 2018 were as follows: Year Ended December 31, 2019 2018 (in millions) Fair value at beginning of year $ 49 $ 33 Payments — (7 ) Interest accretion 2 — Measurement adjustments — 23 Fair value at end of year $ 51 $ 49 |
Other Income, Net (Tables)
Other Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Interest and Other Income | Other income (expense), net included: Year Ended December 31, 2019 2018 2017 (in millions) Interest income $ 13 $ 21 $ 7 Loss on extinguishment of debt (6 ) — — Components of net periodic benefit cost other than service cost (27 ) (18 ) (32 ) Reserve for Unsecured Creditors litigation — — (10 ) Costs associated with acquisitions (5 ) (14 ) (8 ) Change in fair value of equity investments (Note 5) 19 — — Contingent consideration liability fair value adjustment — (23 ) 14 Other, net 20 36 8 Other income (expense), net $ 14 $ 2 $ (21 ) |
Acquisitions And Divestitures (
Acquisitions And Divestitures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
gabocom [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary purchase price and related allocation to the acquired net assets of gabocom based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 311 Property, plant and equipment $ 25 Intangible assets 75 Other liabilities, net (11 ) Identifiable net assets acquired 89 Goodwill resulting from purchase 222 Total purchase price allocation $ 311 |
Falmat [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary purchase price and related allocation to the acquired net assets of Falmat based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 25 Intangible assets $ 12 Other assets, net 6 Identifiable net assets acquired 18 Goodwill resulting from purchase 7 Total purchase price allocation $ 25 |
Winchester [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase price and related allocation to the acquired net assets of Winchester based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 680 Property, plant and equipment $ 31 Intangible assets 226 Other assets, net 21 Identifiable net assets acquired 278 Goodwill resulting from purchase 402 Total purchase price allocation $ 680 |
Kum [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase price and related allocation to the acquired net assets of KUM based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 515 Debt and pension liabilities assumed 11 Total consideration, net of cash acquired $ 526 Property, plant and equipment $ 121 Intangible assets 110 Other assets, net 34 Identifiable net assets acquired 265 Goodwill resulting from purchase 261 Total purchase price allocation $ 526 |
nutonomy | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase price and related allocation to the acquired net assets of nuTonomy based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 284 Purchase price, fair value of contingent consideration 24 Total purchase price, net of cash acquired $ 308 Intangible assets $ 102 Other liabilities, net (35 ) Identifiable net assets acquired 67 Goodwill resulting from purchase 241 Total purchase price allocation $ 308 |
Movimento [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase price and related allocation to the acquired net assets of Movimento based on their estimated fair values is shown below (in millions): Assets acquired and liabilities assumed Purchase price, cash consideration, net of cash acquired $ 40 Purchase price, fair value of contingent consideration 8 Total purchase price, net of cash acquired $ 48 Intangible assets $ 22 Other liabilities, net (2 ) Identifiable net assets acquired 20 Goodwill resulting from purchase 28 Total purchase price allocation $ 48 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Share Based Compensation Restricted Stock Units Performance Awards Weighting | Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics, which are: Metric 2016 - 2019 Grants 2015 Grant Average return on net assets (1) 50% 50% Cumulative net income 25% N/A Cumulative earnings per share (2) N/A 30% Relative total shareholder return (3) 25% 20% (1) Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period. (2) Cumulative earnings per share is measured by net income attributable to Aptiv divided by the weighted average number of diluted shares outstanding for the respective three-year performance period. (3) Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies. |
Schedule of Executive RSU Grants | The details of the executive grants were as follows: Grant Date RSUs Granted Grant Date Fair Value Time-Based Award Vesting Dates Performance-Based Award Vesting Date (in millions) February 2015 0.90 $ 76 Annually on anniversary of grant date, 2016 - 2018 December 31, 2017 February 2016 0.71 48 Annually on anniversary of grant date, 2017 - 2019 December 31, 2018 February 2017 0.80 63 Annually on anniversary of grant date, 2018 - 2020 December 31, 2019 February 2018 0.63 61 Annually on anniversary of grant date, 2019 - 2021 December 31, 2020 February 2019 0.71 62 Annually on anniversary of grant date, 2020 - 2022 December 31, 2021 |
Schedule of Share-based Compensation Restricted Stock Units Award Activity | A summary of RSU activity, including award grants, vesting and forfeitures is provided below. For periods prior to the Separation, RSU activity and the corresponding weighted average grant date fair value is presented based on the awards of Delphi Automotive PLC RSUs. RSUs Weighted Average Grant Date Fair Value (in thousands) Nonvested, January 1, 2017 1,740 $ 76.54 Granted 1,245 82.02 Vested (980 ) 73.01 Forfeited (195 ) 76.18 Adjustment due to Delphi Technologies Separation (1) (3 ) Nonvested, December 31, 2017 (2) 1,807 68.66 Granted 1,242 87.08 Vested (968 ) 65.83 Forfeited (202 ) 77.64 Nonvested, December 31, 2018 1,879 81.24 Granted 1,363 83.93 Vested (1,131 ) 70.78 Forfeited (289 ) 83.97 Nonvested, December 31, 2019 1,822 89.32 |
Supplemental Guarantor And No_2
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements [Abstract] | |
Schedule of Condensed Income Statement | Statement of Operations for the Year Ended December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net sales $ — $ — $ — $ 14,357 $ — $ 14,357 Operating expenses: Cost of sales — — — 11,711 — 11,711 Selling, general and administrative 4 — — 1,072 — 1,076 Amortization — — — 146 — 146 Restructuring — — — 148 — 148 Total operating expenses 4 — — 13,077 — 13,081 Operating (loss) income (4 ) — — 1,280 — 1,276 Interest (expense) income (129 ) (181 ) (134 ) (30 ) 310 (164 ) Other (expense) income, net (6 ) 1 39 290 (310 ) 14 (Loss) income from continuing operations before income taxes and equity income (139 ) (180 ) (95 ) 1,540 — 1,126 Income tax benefit (expense) 6 12 22 (172 ) — (132 ) (Loss) income from continuing operations before equity income (133 ) (168 ) (73 ) 1,368 — 994 Equity in net income of affiliates — — — 15 — 15 Equity in net income (loss) of subsidiaries 1,123 942 138 — (2,203 ) — Income (loss) from continuing operations 990 774 65 1,383 (2,203 ) 1,009 Income from discontinued operations, net of tax — — — — — — Net income (loss) 990 774 65 1,383 (2,203 ) 1,009 Net income attributable to noncontrolling interest — — — 19 — 19 Net income (loss) attributable to Aptiv $ 990 $ 774 $ 65 $ 1,364 $ (2,203 ) $ 990 Statement of Operations for the Year Ended December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net sales $ — $ — $ — $ 14,435 $ — $ 14,435 Operating expenses: Cost of sales — — — 11,706 — 11,706 Selling, general and administrative 27 — — 966 — 993 Amortization — — — 154 — 154 Restructuring — — — 109 — 109 Total operating expenses 27 — — 12,935 — 12,962 Operating (loss) income (27 ) — — 1,500 — 1,473 Interest (expense) income (141 ) (147 ) (200 ) (25 ) 372 (141 ) Other income (expense), net — 1 80 293 (372 ) 2 (Loss) income from continuing operations before income taxes and equity income (168 ) (146 ) (120 ) 1,768 — 1,334 Income tax benefit (expense) — — 27 (277 ) — (250 ) (Loss) income from continuing operations before equity income (168 ) (146 ) (93 ) 1,491 — 1,084 Equity in net income of affiliates — — — 23 — 23 Equity in net income (loss) of subsidiaries 1,235 1,246 41 — (2,522 ) — Income (loss) from continuing operations 1,067 1,100 (52 ) 1,514 (2,522 ) 1,107 Income from discontinued operations, net of tax — — — — — — Net income (loss) 1,067 1,100 (52 ) 1,514 (2,522 ) 1,107 Net income attributable to noncontrolling interest — — — 40 — 40 Net income (loss) attributable to Aptiv $ 1,067 $ 1,100 $ (52 ) $ 1,474 $ (2,522 ) $ 1,067 Statement of Operations for the Year Ended December 31, 2017 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net sales $ — $ — $ — $ 12,884 $ — $ 12,884 Operating expenses: Cost of sales — — — 10,270 — 10,270 Selling, general and administrative 137 — — 815 — 952 Amortization — — — 117 — 117 Restructuring — — — 129 — 129 Total operating expenses 137 — — 11,331 — 11,468 Operating (loss) income (137 ) — — 1,553 — 1,416 Interest (expense) income (255 ) (24 ) (174 ) (11 ) 324 (140 ) Other income (expense), net — 144 13 146 (324 ) (21 ) (Loss) income from continuing operations before income taxes and equity income (392 ) 120 (161 ) 1,688 — 1,255 Income tax benefit (expense) — — 59 (282 ) — (223 ) (Loss) income from continuing operations before equity income (392 ) 120 (102 ) 1,406 — 1,032 Equity in net income of affiliates — — — 31 — 31 Equity in net income (loss) of subsidiaries 1,747 1,629 62 — (3,438 ) — Income (loss) from continuing operations 1,355 1,749 (40 ) 1,437 (3,438 ) 1,063 Income from discontinued operations, net of tax — — — 365 — 365 Net income (loss) 1,355 1,749 (40 ) 1,802 (3,438 ) 1,428 Net income attributable to noncontrolling interest — — — 73 — 73 Net income (loss) attributable to Aptiv $ 1,355 $ 1,749 $ (40 ) $ 1,729 $ (3,438 ) $ 1,355 |
Schedule of Comprehensive Income (Loss) | Statement of Comprehensive Income for the Year Ended December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net income (loss) $ 990 $ 774 $ 65 $ 1,383 $ (2,203 ) $ 1,009 Other comprehensive income (loss): Currency translation adjustments 29 — — (74 ) — (45 ) Net change in unrecognized gain on derivative instruments, net of tax — — — 56 — 56 Employee benefit plans adjustment, net of tax — — — (30 ) — (30 ) Other comprehensive income (loss) 29 — — (48 ) — (19 ) Equity in other comprehensive (loss) income of subsidiaries (45 ) 20 17 — 8 — Comprehensive income (loss) 974 794 82 1,335 (2,195 ) 990 Comprehensive income attributable to noncontrolling interests — — — 16 — 16 Comprehensive income (loss) attributable to Aptiv $ 974 $ 794 $ 82 $ 1,319 $ (2,195 ) $ 974 Statement of Comprehensive Income for the Year Ended December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net income (loss) $ 1,067 $ 1,100 $ (52 ) $ 1,514 $ (2,522 ) $ 1,107 Other comprehensive income (loss): Currency translation adjustments 67 — — (261 ) — (194 ) Net change in unrecognized loss on derivative instruments, net of tax — — — (39 ) — (39 ) Employee benefit plans adjustment, net of tax — — — 2 — 2 Other comprehensive income (loss) 67 — — (298 ) — (231 ) Equity in other comprehensive (loss) income of subsidiaries (290 ) (194 ) 25 — 459 — Comprehensive income (loss) 844 906 (27 ) 1,216 (2,063 ) 876 Comprehensive income attributable to noncontrolling interests — — — 32 — 32 Comprehensive income (loss) attributable to Aptiv $ 844 $ 906 $ (27 ) $ 1,184 $ (2,063 ) $ 844 Statement of Comprehensive Income for the Year Ended December 31, 2017 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net income (loss) $ 1,355 $ 1,749 $ (40 ) $ 1,802 $ (3,438 ) $ 1,428 Other comprehensive (loss) income: Currency translation adjustments (177 ) — — 492 — 315 Net change in unrecognized gain on derivative instruments, net of tax — — — 15 — 15 Employee benefit plans adjustment, net of tax — — — 11 — 11 Other comprehensive (loss) income (177 ) — — 518 — 341 Equity in other comprehensive income (loss) of subsidiaries 508 567 31 — (1,106 ) — Comprehensive income (loss) 1,686 2,316 (9 ) 2,320 (4,544 ) 1,769 Comprehensive income attributable to noncontrolling interests — — — 83 — 83 Comprehensive income (loss) attributable to Aptiv $ 1,686 $ 2,316 $ (9 ) $ 2,237 $ (4,544 ) $ 1,686 |
Schedule of Condensed Balance Sheet | Balance Sheet as of December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ — $ 412 $ — $ 412 Restricted cash — — — 16 — 16 Accounts receivable, net — — — 2,569 — 2,569 Intercompany receivables, current 58 17 464 5,981 (6,520 ) — Inventories — — — 1,286 — 1,286 Other current assets — — — 504 — 504 Assets held for sale — — — 532 — 532 Total current assets 58 17 464 11,300 (6,520 ) 5,319 Long-term assets: Intercompany receivables, long-term — — 768 415 (1,183 ) — Property, net — — — 3,309 — 3,309 Operating lease right-of-use assets — — — 413 — 413 Investments in affiliates — — — 106 — 106 Investments in subsidiaries 8,452 9,145 1,758 — (19,355 ) — Intangible assets, net — — — 3,593 — 3,593 Other long-term assets 1 — 3 715 — 719 Total long-term assets 8,453 9,145 2,529 8,551 (20,538 ) 8,140 Total assets $ 8,511 $ 9,162 $ 2,993 $ 19,851 $ (27,058 ) $ 13,459 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt $ — $ — $ 120 $ 273 $ — $ 393 Accounts payable 3 — — 2,460 — 2,463 Intercompany payables, current 1,539 4,259 628 94 (6,520 ) — Accrued liabilities 38 — 9 1,108 — 1,155 Liabilities held for sale — — — 43 — 43 Total current liabilities 1,580 4,259 757 3,978 (6,520 ) 4,054 Long-term liabilities: Long-term debt 2,920 — 1,026 25 — 3,971 Intercompany payables, long-term — — 226 957 (1,183 ) — Pension benefit obligations — — — 483 — 483 Long-term operating lease liabilities — — — 329 — 329 Other long-term liabilities — — — 611 — 611 Total long-term liabilities 2,920 — 1,252 2,405 (1,183 ) 5,394 Total liabilities 4,500 4,259 2,009 6,383 (7,703 ) 9,448 Total Aptiv shareholders’ equity 4,011 4,903 984 13,276 (19,355 ) 3,819 Noncontrolling interest — — — 192 — 192 Total shareholders’ equity 4,011 4,903 984 13,468 (19,355 ) 4,011 Total liabilities and shareholders’ equity $ 8,511 $ 9,162 $ 2,993 $ 19,851 $ (27,058 ) $ 13,459 Balance Sheet as of December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ 1 $ — $ — $ 566 $ — $ 567 Restricted cash — — — 1 — 1 Accounts receivable, net — — — 2,487 — 2,487 Intercompany receivables, current 54 16 3,114 4,201 (7,385 ) — Inventories — — — 1,277 — 1,277 Other current assets — — — 445 — 445 Total current assets 55 16 3,114 8,977 (7,385 ) 4,777 Long-term assets: Intercompany receivables, long-term — — 768 1,424 (2,192 ) — Property, net — — — 3,179 — 3,179 Investments in affiliates — — — 99 — 99 Investments in subsidiaries 7,392 8,467 1,899 — (17,758 ) — Intangible assets, net — — — 3,904 — 3,904 Other long-term assets — — 6 515 — 521 Total long-term assets 7,392 8,467 2,673 9,121 (19,950 ) 7,703 Total assets $ 7,447 $ 8,483 $ 5,787 $ 18,098 $ (27,335 ) $ 12,480 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt $ — $ — $ 25 $ 281 $ — $ 306 Accounts payable 2 — — 2,332 — 2,334 Intercompany payables, current 791 4,479 2,115 — (7,385 ) — Accrued liabilities 31 — 11 1,012 — 1,054 Total current liabilities 824 4,479 2,151 3,625 (7,385 ) 3,694 Long-term liabilities: Long-term debt 2,953 — 1,055 30 — 4,038 Intercompany payables, long-term — — 1,296 896 (2,192 ) — Pension benefit obligations — — — 445 — 445 Other long-term liabilities — — — 633 — 633 Total long-term liabilities 2,953 — 2,351 2,004 (2,192 ) 5,116 Total liabilities 3,777 4,479 4,502 5,629 (9,577 ) 8,810 Total Aptiv shareholders’ equity 3,670 4,004 1,285 12,258 (17,758 ) 3,459 Noncontrolling interest — — — 211 — 211 Total shareholders’ equity 3,670 4,004 1,285 12,469 (17,758 ) 3,670 Total liabilities and shareholders’ equity $ 7,447 $ 8,483 $ 5,787 $ 18,098 $ (27,335 ) $ 12,480 |
Schedule of Condensed Cash Flow Statement | Statement of Cash Flows for the Year Ended December 31, 2019 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net cash (used in) provided by operating activities from continuing operations $ (50 ) $ — $ — $ 1,674 $ — $ 1,624 Net cash provided by operating activities from discontinued operations — — — — — — Net cash (used in) provided by operating activities (50 ) — — 1,674 — 1,624 Cash flows from investing activities: Capital expenditures — — — (781 ) — (781 ) Proceeds from sale of property / investments — — — 14 — 14 Cost of business acquisitions, net of cash acquired — — — (334 ) — (334 ) Cost of technology investments — — — (10 ) — (10 ) Loans to affiliates — — — (818 ) 818 — Repayments of loans from affiliates — — — 175 (175 ) — Net cash (used in) provided by investing activities from continuing operations — — — (1,754 ) 643 (1,111 ) Net cash used in investing activities from discontinued operations — — — — — — Net cash (used in) provided by investing activities — — — (1,754 ) 643 (1,111 ) Cash flows from financing activities: Net proceeds (repayments) under other short-term debt agreements — — 90 (10 ) — 80 Repayments under long-term debt agreements — — (25 ) — — (25 ) Repayment of senior notes (654 ) — — — — (654 ) Proceeds from issuance of senior notes, net of issuance costs 641 — — — — 641 Dividend payments of consolidated affiliates to minority shareholders — — — (11 ) — (11 ) Proceeds from borrowings from affiliates 708 — 110 — (818 ) — Payments on borrowings from affiliates — — (175 ) — 175 — Repurchase of ordinary shares (420 ) — — — — (420 ) Distribution of cash dividends (226 ) — — — — (226 ) Taxes withheld and paid on employees’ restricted share awards — — — (34 ) — (34 ) Net cash provided by (used in) financing activities 49 — — (55 ) (643 ) (649 ) Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash — — — (3 ) — (3 ) Decrease in cash, cash equivalents and restricted cash (1 ) — — (138 ) — (139 ) Cash, cash equivalents and restricted cash at beginning of year 1 — — 567 — 568 Cash, cash equivalents and restricted cash at end of year $ — $ — $ — $ 429 $ — $ 429 Statement of Cash Flows for the Year Ended December 31, 2018 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net cash (used in) provided by operating activities from continuing operations $ (170 ) $ — $ — $ 1,810 $ — $ 1,640 Net cash used in operating activities from discontinued operations — — — (12 ) — (12 ) Net cash (used in) provided by operating activities (170 ) — — 1,798 — 1,628 Cash flows from investing activities: Capital expenditures — — — (846 ) — (846 ) Proceeds from sale of property / investments — — — 13 — 13 Cost of business acquisitions, net of cash acquired — — — (1,197 ) — (1,197 ) Cost of technology investments — — — (16 ) — (16 ) Return of investment from subsidiaries 5,879 4,971 — — (10,850 ) — Settlement of derivatives — — — (2 ) — (2 ) Loans to affiliates — — — (3,642 ) 3,642 — Repayments of loans from affiliates — — — 7,598 (7,598 ) — Investments in subsidiaries (100 ) — — — 100 — Net cash provided by (used in) investing activities from continuing operations 5,779 4,971 — 1,908 (14,706 ) (2,048 ) Net cash used in investing activities from discontinued operations — — — — — — Net cash provided by (used in) investing activities 5,779 4,971 — 1,908 (14,706 ) (2,048 ) Cash flows from financing activities: Net proceeds under other short-term debt agreements — — — 268 — 268 Repayments under long-term debt agreements — — (13 ) — — (13 ) Contingent consideration and deferred acquisition purchase price payments — — — (13 ) — (13 ) Dividend payments of consolidated affiliates to minority shareholders — — — (30 ) — (30 ) Proceeds from borrowings from affiliates 1,002 2,627 13 — (3,642 ) — Payments on borrowings from affiliates (5,879 ) (1,719 ) — — 7,598 — Investment from parent — — — 100 (100 ) — Dividends paid to affiliates — (5,879 ) — (4,971 ) 10,850 — Repurchase of ordinary shares (499 ) — — — — (499 ) Distribution of cash dividends (233 ) — — — — (233 ) Taxes withheld and paid on employees' restricted share awards — — — (35 ) — (35 ) Net cash (used in) provided by financing activities (5,609 ) (4,971 ) — (4,681 ) 14,706 (555 ) Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash — — — (54 ) — (54 ) Decrease in cash, cash equivalents and restricted cash — — — (1,029 ) — (1,029 ) Cash, cash equivalents and restricted cash at beginning of year 1 — — 1,596 — 1,597 Cash, cash equivalents and restricted cash at end of year $ 1 $ — $ — $ 567 $ — $ 568 Statement of Cash Flows for the Year Ended December 31, 2017 Parent Subsidiary Guarantors Subsidiary Issuer/Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net cash (used in) provided by operating activities from continuing operations $ (93 ) $ (184 ) $ — $ 1,383 $ — $ 1,106 Net cash provided by operating activities from discontinued operations — — — 362 — 362 Net cash (used in) provided by operating activities (93 ) (184 ) — 1,745 — 1,468 Cash flows from investing activities: Capital expenditures — — — (698 ) — (698 ) Proceeds from sale of property / investments — — — 7 — 7 Cost of business acquisitions, net of cash acquired — — — (324 ) — (324 ) Cost of technology investments — — — (50 ) — (50 ) Settlement of derivatives — — — (28 ) — (28 ) Loans to affiliates — (126 ) — (988 ) 1,114 — Repayments of loans from affiliates — — — 1,345 (1,345 ) — Net cash used in by investing activities from continuing operations — (126 ) — (736 ) (231 ) (1,093 ) Net cash used in investing activities from discontinued operations — — — (159 ) — (159 ) Net cash used in investing activities — (126 ) — (895 ) (231 ) (1,252 ) Cash flows from financing activities: Net repayments under other short-term debt agreements — — — (15 ) — (15 ) Repayments under long-term debt agreements — — (2 ) — — (2 ) Proceeds from issuance of senior notes, net of issuance costs — — — 796 — 796 Contingent consideration and deferred acquisition purchase price payments — — — (24 ) — (24 ) Dividend payments of consolidated affiliates to minority shareholders — — — (38 ) — (38 ) Proceeds from borrowings from affiliates 802 310 2 — (1,114 ) — Payments on borrowings from affiliates (1,345 ) — — — 1,345 — Repurchase of ordinary shares (383 ) — — — — (383 ) Distribution of cash dividends (310 ) — — — — (310 ) Dividend received from spin-off of Delphi Technologies 1,148 — — — — 1,148 Cash transferred from Delphi Technologies related to spin-off 180 — — — — 180 Cash transferred to Delphi Technologies related to spin-off — — — (863 ) — (863 ) Taxes withheld and paid on employees’ restricted share awards — — — (33 ) — (33 ) Net cash provided by (used in) financing activities 92 310 — (177 ) 231 456 Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash — — — 86 — 86 (Decrease) increase in cash, cash equivalents and restricted cash (1 ) — — 759 — 758 Cash, cash equivalents and restricted cash at beginning of year 2 — — 837 — 839 Cash, cash equivalents and restricted cash at end of year $ 1 $ — $ — $ 1,596 $ — $ 1,597 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |
Schedule of Segment Reporting Information, by Segment | Included below are sales and operating data for Aptiv’s segments for the years ended December 31, 2019 , 2018 and 2017 , as well as balance sheet data as of December 31, 2019 and 2018 . Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) For the Year Ended December 31, 2019: Net sales $ 10,302 $ 4,092 $ (37 ) $ 14,357 Depreciation and amortization $ 538 $ 179 $ — $ 717 Adjusted operating income $ 1,274 $ 274 $ — $ 1,548 Operating income (2) $ 1,124 $ 152 $ — $ 1,276 Equity income, net of tax $ 15 $ — $ — $ 15 Net income attributable to noncontrolling interest $ 19 $ — $ — $ 19 Capital expenditures $ 495 $ 250 $ 36 $ 781 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) For the Year Ended December 31, 2018: Net sales $ 10,402 $ 4,078 $ (45 ) $ 14,435 Depreciation and amortization $ 490 $ 186 $ — $ 676 Adjusted operating income $ 1,424 $ 327 $ — $ 1,751 Operating income (3) $ 1,279 $ 194 $ — $ 1,473 Equity income, net of tax $ 23 $ — $ — $ 23 Net income attributable to noncontrolling interest $ 40 $ — $ — $ 40 Capital expenditures $ 534 $ 245 $ 67 $ 846 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) For the Year Ended December 31, 2017: Net sales $ 9,507 $ 3,446 $ (69 ) $ 12,884 Depreciation and amortization $ 438 $ 108 $ — $ 546 Adjusted operating income $ 1,302 $ 292 $ — $ 1,594 Operating income (4) $ 1,206 $ 210 $ — $ 1,416 Equity income, net of tax $ 31 $ — $ — $ 31 Net income attributable to noncontrolling interest $ 42 $ — $ — $ 42 Capital expenditures $ 477 $ 196 $ 25 $ 698 (1) Eliminations and Other includes the elimination of inter-segment transactions. Capital expenditures amounts are attributable to corporate administrative and support functions, including corporate headquarters and certain technical centers. (2) Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. (3) Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. (4) Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. |
Reconciliation of Assets from Segment to Consolidated | Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other (1) Total (in millions) Balance as of December 31, 2019: Investment in affiliates $ 106 $ — $ — $ 106 Goodwill $ 2,381 $ 26 $ — $ 2,407 Total segment assets $ 12,726 $ 4,988 $ (4,255 ) $ 13,459 Balance as of December 31, 2018: Investment in affiliates $ 99 $ — $ — $ 99 Goodwill $ 2,180 $ 344 $ — $ 2,524 Total segment assets $ 11,620 $ 5,024 $ (4,164 ) $ 12,480 (1) Eliminations and Other includes the elimination of inter-segment transactions. |
Reconciliation of Segment Adjusted OI to Consolidated Net Income | The reconciliations of Adjusted Operating Income to net income attributable to Aptiv for the years ended December 31, 2019 , 2018 and 2017 are as follows: Signal and Power Solutions Advanced Safety and User Experience Eliminations Total (in millions) For the Year Ended December 31, 2019: Adjusted operating income $ 1,274 $ 274 $ — $ 1,548 Restructuring (104 ) (44 ) — (148 ) Other acquisition and portfolio project costs (44 ) (27 ) — (71 ) Asset impairments (2 ) (9 ) — (11 ) Deferred compensation related to nuTonomy acquisition — (42 ) — (42 ) Operating income $ 1,124 $ 152 $ — 1,276 Interest expense (164 ) Other income, net 14 Income from continuing operations before income taxes and equity income 1,126 Income tax expense (132 ) Equity income, net of tax 15 Income from continuing operations 1,009 Income from discontinued operations, net of tax — Net income 1,009 Net income attributable to noncontrolling interest 19 Net income attributable to Aptiv $ 990 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other Total (in millions) For the Year Ended December 31, 2018: Adjusted operating income $ 1,424 $ 327 $ — $ 1,751 Restructuring (90 ) (19 ) — (109 ) Other acquisition and portfolio project costs (54 ) (24 ) — (78 ) Asset impairments (1 ) (33 ) — (34 ) Deferred compensation related to nuTonomy acquisition — (57 ) — (57 ) Operating income $ 1,279 $ 194 $ — 1,473 Interest expense (141 ) Other income, net 2 Income from continuing operations before income taxes and equity income 1,334 Income tax expense (250 ) Equity income, net of tax 23 Income from continuing operations 1,107 Income from discontinued operations, net of tax — Net income 1,107 Net income attributable to noncontrolling interest 40 Net income attributable to Aptiv $ 1,067 Signal and Power Solutions Advanced Safety and User Experience Eliminations and Other Total (in millions) For the Year Ended December 31, 2017: Adjusted operating income $ 1,302 $ 292 $ — $ 1,594 Restructuring (67 ) (62 ) — (129 ) Other acquisition and portfolio project costs (21 ) (7 ) — (28 ) Asset impairments (8 ) (1 ) — (9 ) Deferred compensation related to nuTonomy acquisition — (12 ) — (12 ) Operating income $ 1,206 $ 210 $ — 1,416 Interest expense (140 ) Other expense, net (21 ) Income from continuing operations before income taxes and equity income 1,255 Income tax expense (223 ) Equity income, net of tax 31 Income from continuing operations 1,063 Income from discontinued operations, net of tax 365 Net income 1,428 Net income attributable to noncontrolling interest 73 Net income attributable to Aptiv $ 1,355 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Information concerning principal geographic areas is set forth below. Net sales reflects the manufacturing location and is for the years ended December 31, 2019 , 2018 and 2017 . Long-lived assets is as of December 31, 2019 , 2018 and 2017 . Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 Net Sales Long-Lived Assets (1) Net Sales Long-Lived Assets (1) Net Sales Long-Lived Assets (1) (in millions) United States (2) $ 5,308 $ 1,029 $ 5,390 $ 942 $ 4,652 $ 839 Other North America 136 264 170 206 171 185 Europe, Middle East & Africa (3) 4,791 1,398 4,689 1,112 4,235 1,029 Asia Pacific (4) 3,876 970 3,916 869 3,544 698 South America 246 61 270 50 282 53 Total $ 14,357 $ 3,722 $ 14,435 $ 3,179 $ 12,884 $ 2,804 (1) Includes property, plant and equipment, net of accumulated depreciation and operating lease right-of-use assets of $413 million as of December 31, 2019 . (2) Includes net sales and machinery, equipment and tooling that relate to the Company’s maquiladora operations located in Mexico. These assets are utilized to produce products sold to customers located in the U.S. (3) Includes Aptiv’s country of domicile, Jersey, and the country of Aptiv’s principal executive offices, Ireland. The Company had no sales in Jersey or Ireland in any period. The Company had long-lived assets in Ireland of $79 million , $22 million and less than $1 million as of December 31, 2019 , 2018 and 2017 , respectively. The largest portion of net sales in the Europe, Middle East & Africa region was $1,340 million , $1,398 million and $1,191 million in Germany for the years ended December 31, 2019 , 2018 and 2017 , respectively. (4) Net sales and long-lived assets in Asia Pacific are primarily attributable to China. |
Quarterly Data (Unaudited) (Tab
Quarterly Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
Schedule of Quarterly Financial Information | QUARTERLY DATA (UNAUDITED) The following is a condensed summary of the Company’s unaudited quarterly results of operations for fiscal 2019 and 2018 . Three Months Ended March 31, June 30, September 30, December 31, Total (in millions, except per share amounts) 2019 Net sales $ 3,575 $ 3,627 $ 3,559 $ 3,596 $ 14,357 Cost of sales 2,962 2,958 2,882 2,909 11,711 Gross margin $ 613 $ 669 $ 677 $ 687 $ 2,646 Operating income (1) $ 297 $ 335 $ 320 $ 324 $ 1,276 Net Income (2) 245 271 252 241 1,009 Net income attributable to Aptiv $ 240 $ 274 $ 246 $ 230 $ 990 Basic net income per share: Basic net income per share attributable to Aptiv (3) $ 0.93 $ 1.07 $ 0.96 $ 0.90 $ 3.85 Weighted average number of basic shares outstanding 259.08 257.02 255.89 255.31 256.81 Diluted net income per share: Diluted net income per share attributable to Aptiv (3) $ 0.92 $ 1.07 $ 0.96 $ 0.90 $ 3.85 Weighted average number of diluted shares outstanding 259.55 257.26 256.44 256.36 257.39 2018 Net sales $ 3,630 $ 3,684 $ 3,485 $ 3,636 $ 14,435 Cost of sales 2,947 2,958 2,834 2,967 11,706 Gross margin $ 683 $ 726 $ 651 $ 669 $ 2,729 Operating income (4) $ 374 $ 421 $ 323 $ 355 $ 1,473 Net Income (5) 316 303 231 257 1,107 Net income attributable to Aptiv $ 307 $ 291 $ 222 $ 247 $ 1,067 Basic net income per share: Basic net income per share attributable to Aptiv (3) $ 1.16 $ 1.10 $ 0.84 $ 0.94 $ 4.04 Weighted average number of basic shares outstanding 265.69 264.81 264.56 262.61 264.41 Diluted net income per share: Diluted net income per share attributable to Aptiv (3) $ 1.15 $ 1.10 $ 0.84 $ 0.94 $ 4.02 Weighted average number of diluted shares outstanding 266.44 265.48 265.33 263.65 265.22 (1) In the third quarter of 2019, Aptiv recorded restructuring charges totaling $61 million , which includes employee-related and other costs. (2) In the first quarter of 2019, Aptiv recorded a pre-tax unrealized gain of $19 million related to increases in fair value of its equity investments without readily determinable fair values, as further described in Note 19. Other Income, Net. (3) Due to the use of the weighted average shares outstanding for each quarter for computing earnings per share, the sum of the quarterly per share amounts may not equal the per share amount for the year. (4) In the third quarter of 2018, Aptiv recorded restructuring charges totaling $65 million , which includes employee-related and other costs. In the fourth quarter of 2018, Aptiv recorded intangible asset impairment charges totaling $30 million , as further described in Note 7. Intangible Assets and Goodwill. (5) In the second quarter of 2018, Aptiv recorded increased tax expense of approximately $25 million as an adjustment to the provisional amounts recorded due to the enactment of the Tax Cuts and Jobs Act in the U.S. on December 22, 2017. In the third quarter of 2018, Aptiv recorded increased tax expense of approximately $24 million as a result of the intra-entity transfer of intellectual property, as further described in Note 14. Income Taxes. |
Discontinued Operations and H_2
Discontinued Operations and Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Schedule of Reconciliation of Major Classes of Profit or Loss of Discontinued Operations | A reconciliation of the major classes of line items constituting pre-tax profit or loss of discontinued operations to income from discontinued operations, net of tax as presented in the consolidated statements of operations is as follows: Year Ended December 31, 2017 (in millions) Net sales $ 4,385 Cost of sales 3,496 Selling, general and administrative 298 Amortization 15 Restructuring 90 Other expense items that are not major, net (54 ) Income from discontinued operations before income taxes and equity income 432 Income tax expense on discontinued operations (71 ) Equity income from discontinued operations, net of tax 4 Income from discontinued operations, net of tax 365 Income from discontinued operations attributable to noncontrolling interests 31 Net income from discontinued operations attributable to Aptiv $ 334 |
Autonomous Driving Joint Venture [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Schedule of Reconciliation of Major Classes of Assets and Liabilities of Discontinued Operations | The following table summarizes the carrying value of the major classes of assets and liabilities held for sale: December 31, (in millions) Cash and cash equivalents $ 1 Accounts receivable, net 1 Property, net 64 Operating lease right-of-use assets 12 Intangible assets, net 126 Goodwill 318 Other assets 10 Total assets held for sale $ 532 Accounts payable $ 9 Accrued liabilities 19 Long-term operating lease liabilities 10 Other liabilities 5 Total liabilities held for sale $ 43 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lease Cost | The components of lease expense were as follows: Year Ended December 31, 2019 (in millions) Lease cost: Finance lease cost: Amortization of right-of-use assets $ 4 Interest on lease liabilities 1 Total finance lease cost 5 Operating lease cost 114 Short-term lease cost 13 Variable lease cost 1 Sublease income (1) — Total lease cost $ 133 (1) Sublease income excludes rental income from owned properties of $11 million for the year ended December 31, 2019 , which is included in other income, net. |
Supplemental Cash Flow Information Related to Leases | Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2019 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases $ 1 Operating cash flows for operating leases 112 Financing cash flows for finance leases 3 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 86 Finance leases 5 |
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows: December 31, 2019 (dollars in millions) Operating leases: Operating lease right-of-use assets $ 413 Accrued liabilities (Note 8) $ 94 Long-term operating lease liabilities 329 Total operating lease liabilities $ 423 Finance leases: Property and equipment $ 30 Less: accumulated depreciation (9 ) Total property, net $ 21 Short-term debt (Note 11) $ 4 Long-term debt (Note 11) 18 Total finance lease liabilities $ 22 Weighted average remaining lease term: Operating leases 6 years Finance leases 6 years Weighted average discount rate: Operating leases 3.5 % Finance leases 4.0 % |
Maturities of Lease Liabilities | Maturities of lease liabilities were as follows: Operating Leases Finance Leases (in millions) As of December 31, 2019 2020 $ 106 $ 5 2021 94 5 2022 79 4 2023 59 3 2024 39 2 Thereafter 93 6 Total lease payments 470 25 Less: imputed interest (47 ) (3 ) Total $ 423 $ 22 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Valuation and Qualifying Accounts Disclosure | SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS AND RESERVES Additions Balance at Beginning of Period Charged to Costs and Expenses Deductions Other Activity Balance at End of Period (in millions) December 31, 2019: Allowance for doubtful accounts $ 38 $ 9 $ (10 ) $ — $ 37 Tax valuation allowance (a) $ 1,178 $ 35 $ (137 ) $ (1 ) $ 1,075 December 31, 2018: Allowance for doubtful accounts $ 34 $ 9 $ (7 ) $ 2 $ 38 Tax valuation allowance (a) $ 1,008 $ 292 $ (120 ) $ (2 ) $ 1,178 December 31, 2017: Allowance for doubtful accounts $ 33 $ 23 $ (24 ) $ 2 $ 34 Tax valuation allowance (a) $ 1,399 $ — $ (406 ) $ 15 $ 1,008 (a) Additions Charged to Costs and Expenses are primarily related to taxable losses for which the tax benefit has been reserved. |
General (Details)
General (Details) | Dec. 04, 2017 | Nov. 22, 2017 | May 19, 2011 | Nov. 22, 2011 | Dec. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Plan of Reorganization, Date Plan Confirmed | May 19, 2011 | ||||
Initial Offering Period | Nov. 22, 2011 | ||||
Distribution Date | Dec. 4, 2017 | ||||
Record Date | Nov. 22, 2017 | ||||
Number of Largest OEM Customers | 23 | ||||
Number of Manufacturing Facilities | 126 | ||||
Number of Major Technical Centers | 15 | ||||
Number of Countries in which Entity Operates | 44 | ||||
Number of Scientists, Engineers, and Technicians | 20,200 |
Significant Accounting Polici_4
Significant Accounting Policies (Details) - USD ($) $ in Millions | Dec. 04, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Significant Accounting Policies [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 0 | $ (9) | |||
Impairment of Intangible Assets (Excluding Goodwill) | 8 | 30 | $ 0 | ||
Components of net periodic benefit cost other than service cost | 27 | 18 | 32 | ||
Distribution Date | Dec. 4, 2017 | ||||
Investment Income, Dividend | 9 | 12 | 15 | ||
Research and Development expense | 1,165 | 1,155 | 882 | ||
Allowance for Doubtful Accounts Receivable | 37 | 38 | |||
Accounts Receivable, Credit Loss Expense (Reversal) | 9 | 9 | 23 | ||
Reimbursable engineering costs | 318 | 184 | |||
Property Plant & Equipment, net | 3,309 | 3,179 | |||
Foreign Currency Transaction Gain (Loss), Net of Tax | (3) | 8 | $ (13) | ||
Asset Retirement Obligation | 1 | 1 | |||
Unamortized Revolving Credit Facility debt issuance costs | 3 | 6 | |||
Operating Lease, Right-of-Use Asset | 413 | 0 | |||
Operating Lease, Liability, Current | 94 | 0 | |||
Operating Lease, Liability, Noncurrent | 329 | 0 | |||
Equity Securities without Readily Determinable Fair Value, Amount | 101 | 72 | |||
GM | |||||
Significant Accounting Policies [Line Items] | |||||
Accounts and Other Receivables | 205 | 169 | |||
VW | |||||
Significant Accounting Policies [Line Items] | |||||
Accounts and Other Receivables | 135 | 149 | |||
FCA [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Accounts and Other Receivables | $ 207 | $ 175 | |||
Customer Concentration Risk | Total Net Sales | GM & VW | |||||
Significant Accounting Policies [Line Items] | |||||
Percentage of Total Net Sales | 27.00% | 29.00% | 29.00% | ||
Customer Concentration Risk | Total Net Sales | GM | |||||
Significant Accounting Policies [Line Items] | |||||
Percentage of Total Net Sales | [1] | 9.00% | 11.00% | 13.00% | |
Customer Concentration Risk | Total Net Sales | VW | |||||
Significant Accounting Policies [Line Items] | |||||
Percentage of Total Net Sales | 9.00% | 9.00% | 9.00% | ||
Customer Concentration Risk | Total Net Sales | FCA [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Percentage of Total Net Sales | 9.00% | 9.00% | 7.00% | ||
Special Tools | |||||
Significant Accounting Policies [Line Items] | |||||
Property Plant & Equipment, net | $ 485 | $ 461 | |||
Aptiv-Owned Special Tools | |||||
Significant Accounting Policies [Line Items] | |||||
Property Plant & Equipment, net | 365 | 352 | |||
Customer-Owned Special Tools | |||||
Significant Accounting Policies [Line Items] | |||||
Property Plant & Equipment, net | 120 | 109 | |||
Other Long-Term Assets | |||||
Significant Accounting Policies [Line Items] | |||||
Equity Securities without Readily Determinable Fair Value, Amount | 101 | 72 | |||
Retained Earnings | |||||
Significant Accounting Policies [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 9 | (9) | |||
Fair Value, Measurements, Nonrecurring | |||||
Significant Accounting Policies [Line Items] | |||||
Impairment of Intangible Assets (Excluding Goodwill) | $ 8 | $ 30 | |||
[1] | Net sales to GM includes net sales to GM’s former European Opel business prior to its sale to PSA on August 1, 2017, after which date these sales are excluded from net sales to GM. |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Productive material | $ 706 | $ 724 |
Work-in-process | 102 | 101 |
Finished Goods | 478 | 452 |
Total | $ 1,286 | $ 1,277 |
Assets Current Assets (Details)
Assets Current Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Value added tax receivable | $ 205 | $ 185 |
Prepaid insurance and other expenses | 88 | 72 |
Reimbursable engineering costs | 101 | 47 |
Notes receivable | 10 | 43 |
Income and other taxes receivable | 45 | 73 |
Deposits to vendors | 4 | 4 |
Derivative financial instruments (Note 17) | 30 | 6 |
Capitalized Contract Cost, Net, Current | 20 | 8 |
Other | 1 | 7 |
Total | $ 504 | $ 445 |
Assets Non Current assets (Deta
Assets Non Current assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Deferred income taxes (Note 14) | $ 164 | $ 143 |
Unamortized Revolving Credit Facility debt issuance costs (Note 11) | 3 | 6 |
Income and other taxes receivable | 45 | 6 |
Reimbursable engineering costs | 217 | 137 |
Value added tax receivable | 59 | 38 |
Equity Securities without Readily Determinable Fair Value, Amount | 101 | 72 |
Derivative financial instruments (Note 17) | 8 | 2 |
Capitalized Contract Cost, Net, Noncurrent | 79 | 64 |
Other | 43 | 53 |
Total | $ 719 | $ 521 |
Investments in Affiliates Narra
Investments in Affiliates Narrative (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)affiliates | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Schedule of Equity Method Investments [Line Items] | |||
Number of non-consolidated affiliates | affiliates | 3 | ||
Investments in affiliates | $ 106 | $ 99 | |
Investment Income, Dividend | 9 | 12 | $ 15 |
Equity Method Investment, Impairment | $ 0 | $ 0 | $ 0 |
Promotora de Partes Electricas Automotrices | |||
Schedule of Equity Method Investments [Line Items] | |||
Noncontrolling Interest, Ownership Percentage | 40.00% |
Investments in Affiliates Signi
Investments in Affiliates Significant Affiliates Financial Statements (Unaudited) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |||
Current assets | $ 231 | $ 222 | |
Non-current assets | 126 | 124 | |
Total assets | 357 | 346 | |
Current liabilities | 92 | 99 | |
Non-current liabilities | 10 | 7 | |
Shareholders' equity | 255 | 240 | |
Total liabilities and shareholders' equity | 357 | 346 | |
Net sales | 531 | 533 | $ 570 |
Gross profit | 59 | 84 | 111 |
Net income | $ 35 | $ 53 | $ 66 |
Investments in Affiliates Trans
Investments in Affiliates Transactions with Affiliates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |||
Sales to affiliates | $ 6 | $ 7 | $ 8 |
Purchases from affiliates | $ 37 | $ 38 | $ 19 |
Investments in Affiliates Techn
Investments in Affiliates Technology Investments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity Securities without Readily Determinable Fair Value, Amount | $ 101 | $ 72 | $ 101 | $ 72 | |||||
Payments to Acquire Interest in Joint Venture | 10 | 16 | $ 50 | ||||||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 19 | $ 0 | $ 0 | ||||||
Advanced Safety and User Experience | Krono-Safe [Member] | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 6 | 6 | |||||||
Payments to Acquire Interest in Joint Venture | 6 | ||||||||
Advanced Safety and User Experience | Affectiva [Member] | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 15 | 15 | |||||||
Payments to Acquire Interest in Joint Venture | $ 15 | ||||||||
Advanced Safety and User Experience | Innoviz Technologies | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 15 | 15 | |||||||
Payments to Acquire Interest in Joint Venture | $ 15 | ||||||||
Advanced Safety and User Experience | Leddartech | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 10 | 10 | |||||||
Payments to Acquire Interest in Joint Venture | $ 10 | ||||||||
Advanced Safety and User Experience | Otonomo | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 37 | 37 | |||||||
Payments to Acquire Interest in Joint Venture | $ 3 | $ 15 | |||||||
Advanced Safety and User Experience | Quanergy | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 6 | 6 | |||||||
Advanced Safety and User Experience | Other [Member] | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | 2 | 2 | |||||||
Signal and Power Solutions | Valens Semiconductor | |||||||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 10 | $ 10 | |||||||
Payments to Acquire Interest in Joint Venture | $ 10 |
Property, Net Table (Details)
Property, Net Table (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Property, Gross | $ 5,917 | $ 5,343 | |
Accumulated depreciation | (2,608) | (2,164) | |
Property, net | 3,309 | 3,179 | |
Impairment of Long-Lived Assets Held-for-use | 3 | 4 | $ 9 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, Gross | 81 | 78 | |
Land and leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, Gross | $ 163 | 170 | |
Land and leasehold improvements | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 3 years | ||
Land and leasehold improvements | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 20 years | ||
Buildings | |||
Property, Plant and Equipment [Line Items] | |||
Property, Gross | $ 646 | 582 | |
Buildings | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 40 years | ||
Machinery, equipment, and tooling | |||
Property, Plant and Equipment [Line Items] | |||
Property, Gross | $ 4,057 | 3,594 | |
Machinery, equipment, and tooling | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 3 years | ||
Machinery, equipment, and tooling | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 20 years | ||
Furniture and office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, Gross | $ 648 | 562 | |
Furniture and office equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 3 years | ||
Furniture and office equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, Estimated Useful Lives | 10 years | ||
Construction in progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, Gross | $ 322 | $ 357 |
Property, Net Narrative (Detail
Property, Net Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 3 | $ 4 | $ 9 |
Asset Impairment Charges | 11 | 34 | 9 |
Fair Value, Measurements, Nonrecurring | Cost of Sales | |||
Property, Plant and Equipment [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 3 | $ 4 | $ 9 |
Intangible Assets and Goodwil_2
Intangible Assets and Goodwill Intangible Assets and Goodwill by Major Class (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 1,859 | $ 1,759 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 834 | 667 | $ 568 |
Finite-Lived Intangible Assets, Net Carrying Amount | 1,025 | 1,092 | |
Goodwill | 2,407 | 2,524 | 1,944 |
Intangible Assets, Gross (Including Goodwill) | 4,427 | 4,571 | $ 3,731 |
Intangible assets, net | 3,593 | 3,904 | |
In-Process Research and Development | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 0 | 126 | |
Trade Names [Member] | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 161 | 162 | |
Patented Technology [Member] | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Assets, Gross Carrying Amount | 656 | 647 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 415 | 371 | |
Finite-Lived Intangible Assets, Net Carrying Amount | $ 241 | 276 | |
Patented Technology [Member] | Minimum | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Patented Technology [Member] | Maximum | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Customer Relationships [Member] | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 1,130 | 1,046 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 375 | 261 | |
Finite-Lived Intangible Assets, Net Carrying Amount | $ 755 | 785 | |
Customer Relationships [Member] | Minimum | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Customer Relationships [Member] | Maximum | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 14 years | ||
Trade Names [Member] | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 73 | 66 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 44 | 35 | |
Finite-Lived Intangible Assets, Net Carrying Amount | $ 29 | $ 31 | |
Trade Names [Member] | Minimum | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Trade Names [Member] | Maximum | |||
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 20 years |
Intangible Assets and Goodwil_3
Intangible Assets and Goodwill Amortization Expense (Details) $ in Millions | Dec. 31, 2019USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Estimated Amortization Expense, Next Twelve Months | $ 145 |
Estimated Amortization Expense, Year Two | 145 |
Estimated Amortization Expense, Year Three | 141 |
Estimated Amortization Expense, Year Four | 118 |
Estimated Amortization Expense, Year Five | $ 104 |
Intangible Assets and Goodwil_4
Intangible Assets and Goodwill Gross Carrying Amount of Intangibles and Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Gross Carrying Amount [Roll Forward] | |||
Balance at January 1 | $ 4,571 | $ 3,731 | |
Acquisitions | [1] | 316 | 1,000 |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | (20) | |
Finite and Infinite-Lived Intangible Assets and Goodwill, Reclassified as Held For Sale | (445) | 0 | |
Foreign currency translation and other | (15) | (140) | |
Balance at December 31 | $ 4,427 | $ 4,571 | |
[1] | Primarily attributable to the 2019 acquisitions of gabocom and Falmat, and the 2018 acquisitions of KUM and Winchester, as further described in Note 20. Acquisitions and Divestitures. |
Intangible Assets and Goodwil_5
Intangible Assets and Goodwill Accumulated Amortization Rollforward (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated Amortization [Roll Forward] | ||
Balance at January 1 | $ 667 | $ 568 |
Amortization | 138 | 124 |
Impairment of Intangible Assets, Finite-lived | 8 | 10 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment, Period Increase (Decrease) | (1) | |
Accumulated Depreciation, Depletion and Amortization, Reclassifications from Property, Plant and Equipment | 0 | |
Foreign currency translation and other | 22 | (35) |
Balance at December 31 | $ 834 | $ 667 |
Intangible Assets and Goodwil_6
Intangible Assets and Goodwill Goodwill Rollforward (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Goodwill [Line Items] | ||||
Balance at January 1 | $ 2,524 | $ 1,944 | ||
Acquisitions | 229 | [1] | 657 | [2] |
Goodwill, Transfers | (318) | |||
Foreign currency translation and other | (28) | (77) | ||
Balance at December 31 | 2,407 | 2,524 | ||
Signal and Power Solutions | ||||
Goodwill [Line Items] | ||||
Balance at January 1 | 2,180 | 1,594 | ||
Acquisitions | 229 | [1] | 657 | [2] |
Goodwill, Transfers | 0 | |||
Foreign currency translation and other | (28) | (71) | ||
Balance at December 31 | 2,381 | 2,180 | ||
Advanced Safety and User Experience | ||||
Goodwill [Line Items] | ||||
Balance at January 1 | 344 | 350 | ||
Acquisitions | 0 | [1] | 0 | [2] |
Goodwill, Transfers | (318) | |||
Foreign currency translation and other | 0 | (6) | ||
Balance at December 31 | $ 26 | $ 344 | ||
[1] | Primarily attributable to the acquisitions of gabocom and Falmat, as further described in Note 20. Acquisitions and Divestitures. | |||
[2] | Primarily attributable to the acquisitions of KUM and Winchester, as further described in Note 20. Acquisitions and Divestitures. |
Liabilities Other Liabilities,
Liabilities Other Liabilities, Current (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Liabilities Disclosure [Abstract] | ||
Payroll-related obligations | $ 226 | $ 235 |
Employee benefits, including current pension obligations | 97 | 96 |
Income and other taxes payable | 180 | 187 |
Warranty obligations (Note 9) | 29 | 33 |
Restructuring (Note 10) | 86 | 55 |
Customer deposits | 43 | 36 |
Derivative financial instruments (Note 17) | 4 | 19 |
Accrued interest | 47 | 42 |
Deferred Compensation Liability, Current | 35 | 31 |
Operating Lease, Liability, Current | 94 | 0 |
Other | 314 | 320 |
Total | $ 1,155 | $ 1,054 |
Liabilities Other Liabilities_2
Liabilities Other Liabilities, Non Current (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Liabilities Disclosure [Abstract] | ||
Environmental (Note 13) | $ 3 | $ 3 |
Extended disability benefits | 6 | 5 |
Warranty obligations (Note 9) | 8 | 17 |
Restructuring (Note 10) | 48 | 49 |
Payroll-related obligations | 10 | 10 |
Accrued income taxes | 199 | 201 |
Deferred income taxes (Note 14) | 229 | 233 |
Derivative financial instruments (Note 17) | 0 | 9 |
Deferred Compensation Liability, Classified, Noncurrent | 0 | 18 |
Other | 108 | 88 |
Total | $ 611 | $ 633 |
Warranty Obligations (Details)
Warranty Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | ||
Accrual balance at beginning of year | $ 50 | $ 58 |
Provision for estimated warranties incurred during the period | 39 | 39 |
Changes in estimate for pre-existing warranties | 0 | 5 |
Settlements made during the period (in cash or in kind) | (52) | (51) |
Foreign currency translation and other | 0 | (1) |
Accrual balance at end of year | 37 | $ 50 |
Minimum | Product Warranty | ||
Product Warranty Liability [Line Items] | ||
Range of Possible Loss, Portion Not Accrued | 0 | |
Maximum | Product Warranty | ||
Product Warranty Liability [Line Items] | ||
Range of Possible Loss, Portion Not Accrued | $ 10 |
Restructuring Narrative (Detail
Restructuring Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | $ 61 | $ 65 | $ 148 | $ 109 | $ 129 |
Restructuring and Related Cost, Expected Cost | 35 | ||||
Asset Impairment Charges | 11 | 34 | 9 | ||
Cash expenditures for restructuring | 119 | 135 | |||
Discontinued Operations | Powertrain Systems [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | 90 | ||||
Signal and Power Solutions | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | 104 | 90 | 67 | ||
Restructuring and Related Cost, Expected Cost | 20 | ||||
Advanced Safety and User Experience | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | 44 | 19 | 62 | ||
Restructuring and Related Cost, Expected Cost | 15 | ||||
EMEA | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | $ 74 | $ 64 | 89 | ||
European footprint rotation | EMEA | Plant Closure | Discontinued Operations | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | 54 | ||||
European footprint rotation | EMEA | Advanced Safety and User Experience | Plant Closure | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | $ 36 |
Restructuring Restructuring Cos
Restructuring Restructuring Costs by Operating Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | $ 61 | $ 65 | $ 148 | $ 109 | $ 129 |
Signal and Power Solutions | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | 104 | 90 | 67 | ||
Advanced Safety and User Experience | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring | $ 44 | $ 19 | $ 62 |
Restructuring Restructuring Lia
Restructuring Restructuring Liability (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Reserve [Roll Forward] | |||||
Beginning Balance | $ 104 | $ 132 | |||
Restructuring | $ 61 | $ 65 | 148 | 109 | $ 129 |
Payments made during the period | (119) | (135) | |||
Foreign currency and other | 1 | (2) | |||
Ending Balance | 134 | 104 | 132 | ||
Employee Termination Benefits Liability | |||||
Restructuring Reserve [Roll Forward] | |||||
Beginning Balance | 104 | 131 | |||
Restructuring | 148 | 109 | |||
Payments made during the period | (119) | (134) | |||
Foreign currency and other | 1 | (2) | |||
Ending Balance | 134 | 104 | 131 | ||
Other Exit Costs Liability | |||||
Restructuring Reserve [Roll Forward] | |||||
Beginning Balance | 0 | 1 | |||
Restructuring | 0 | 0 | |||
Payments made during the period | 0 | (1) | |||
Foreign currency and other | 0 | 0 | |||
Ending Balance | $ 0 | $ 0 | $ 1 |
Debt Debt Outstanding (Details)
Debt Debt Outstanding (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Mar. 14, 2019 | Dec. 31, 2018 | Sep. 20, 2016 | Sep. 15, 2016 | Nov. 19, 2015 | Mar. 10, 2015 | Mar. 03, 2014 | Feb. 14, 2013 |
Debt Instrument [Line Items] | |||||||||
Capital leases and other | $ 33 | $ 32 | |||||||
Total debt | 4,364 | 4,344 | |||||||
Less: current portion | (393) | (306) | |||||||
Long-term debt | 3,971 | 4,038 | |||||||
Senior Notes | Senior Notes, 3.15% Due 2020 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | 0 | 648 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.15% | ||||||||
Senior Notes | Senior Notes, 5.00% Due 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||||
Senior Notes | Senior Notes, 4.150% Due 2024 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | 697 | 696 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | ||||||||
Senior Notes | Euro-Denominated Senior Notes, 1.500% Due 2025 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | 779 | 795 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | ||||||||
Senior Notes | Senior Notes, 4.25% Due 2026 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | 647 | 647 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||||||||
Senior Notes | Euro-denominated Senior Notes, 1.600% Due 2028 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | 556 | 568 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.60% | ||||||||
Senior Notes | Senior Notes, 4.35% Due 2029 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | $ 297 | 0 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.35% | 4.35% | |||||||
Unamortized debt issuance costs | $ 3 | 0 | |||||||
Debt Instrument, Unamortized Discount | 0 | 0 | |||||||
Senior Notes | Senior Notes, 4.400% Due 2046 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | $ 295 | 295 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | 4.40% | |||||||
Senior Notes | Senior Notes, 5.40% Due 2049 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | $ 345 | 0 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | 5.40% | |||||||
Unamortized debt issuance costs | $ 4 | 0 | |||||||
Debt Instrument, Unamortized Discount | 1 | 0 | |||||||
Loans Payable | Tranche A Term Loan, Due 2021 | |||||||||
Debt Instrument [Line Items] | |||||||||
Long-term debt | 359 | 384 | |||||||
Accounts Receivable Factoring | |||||||||
Debt Instrument [Line Items] | |||||||||
Other Short-term Borrowings | 266 | 279 | |||||||
Line of Credit | Revolving Credit Facility | |||||||||
Debt Instrument [Line Items] | |||||||||
Short-term Bank Loans and Notes Payable | $ 90 | $ 0 |
Debt Maturities of Debt (Detail
Debt Maturities of Debt (Details) - Debt and Capital Lease Obligations $ in Millions | Dec. 31, 2019USD ($) |
Debt Instrument [Line Items] | |
2019 | $ 393 |
2020 | 343 |
2021 | 3 |
2022 | 2 |
2023 | 702 |
Thereafter | 2,949 |
Total | $ 4,392 |
Debt Credit Agreement (Details)
Debt Credit Agreement (Details) - USD ($) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 14, 2019 | Sep. 20, 2016 | Sep. 15, 2016 | Jun. 30, 2016 | Mar. 03, 2014 | |
Line of Credit Facility [Line Items] | ||||||||
Loss on extinguishment of debt | $ (6) | $ 0 | $ 0 | |||||
Letters of Credit Issued | 2 | 2 | ||||||
Euro-denominated Senior Notes, 1.600% Due 2028 | Senior Notes | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.611% | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.60% | |||||||
Senior Notes, 4.35% Due 2029 [Member] | Senior Notes | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Unamortized debt issuance costs | 3 | 0 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.365% | |||||||
Debt Instrument, Unamortized Discount | $ 0 | 0 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.35% | 4.35% | ||||||
Senior Notes, 4.150% Due 2024 | Senior Notes | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.193% | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | |||||||
Senior Notes, 4.400% Due 2046 | Senior Notes | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.433% | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | 4.40% | ||||||
Senior Notes, 5.40% Due 2049 | Senior Notes | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Unamortized debt issuance costs | $ 4 | 0 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 5.43% | |||||||
Debt Instrument, Unamortized Discount | $ 1 | 0 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | 5.40% | ||||||
Amended and Restated Credit Agreement | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Line of Credit Facility, Additional Borrowing Capacity | $ 1,000 | |||||||
Letters of Credit Issued | $ 1 | |||||||
Amended and Restated Credit Agreement | JPMorgan Chase Bank, N.A. | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Covenant Compliance, Maximum Ratio of Indebtedness to EBITDA | 350.00% | |||||||
Revolving Credit Facility | Line of Credit | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Short-term Bank Loans and Notes Payable | $ 90 | $ 0 | ||||||
Revolving Credit Facility | Revolving Credit Facility | JPMorgan Chase Bank, N.A. | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Revolving Credit Facility, Maximum Borrowing Capacity | $ 2,000 | $ 1,500 | ||||||
Revolving Credit Facility | Revolving Credit Facility | JPMorgan Chase Bank, N.A. | LIBOR | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Basis spread of variable rate | 1.10% | 1.10% | ||||||
Revolving Credit Facility | Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Administrative Agents Alternate Base Rate | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Basis spread of variable rate | 0.10% | 0.10% | ||||||
Revolving Credit Facility | Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Line of Credit | LIBOR | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Short-term Bank Loans and Notes Payable | $ 50 | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.85% | |||||||
Revolving Credit Facility | Revolving Credit Facility | JPMorgan Chase Bank, N.A. | Line of Credit | Administrative Agents Alternate Base Rate | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Short-term Bank Loans and Notes Payable | $ 40 | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.85% | |||||||
Tranche A Term Loan, Due 2021 | JPMorgan Chase Bank, N.A. | LIBOR | Loans Payable | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Basis spread of variable rate | 1.25% | 1.25% | ||||||
Borrowings | $ 360 | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.00% | |||||||
Tranche A Term Loan, Due 2021 | JPMorgan Chase Bank, N.A. | Administrative Agents Alternate Base Rate | Loans Payable | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Basis spread of variable rate | 0.25% | 0.25% |
Debt Senior Unsecured Notes (De
Debt Senior Unsecured Notes (Details) € in Millions | Mar. 14, 2019USD ($) | Sep. 20, 2016USD ($) | Sep. 15, 2016USD ($) | Nov. 19, 2015USD ($) | Mar. 10, 2015USD ($) | Mar. 03, 2014USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 15, 2016EUR (€) | Mar. 10, 2015EUR (€) | Feb. 14, 2013USD ($) | May 17, 2011USD ($) |
Debt Instrument [Line Items] | |||||||||||||
Loss on extinguishment of debt | $ (6,000,000) | $ 0 | $ 0 | ||||||||||
Senior Notes | Senior Notes, 5.875% Due 2019 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 500,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.875% | ||||||||||||
Senior Notes | Senior Notes, 6.125% Due 2021 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 500,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.125% | ||||||||||||
Senior Notes | Senior Notes, 5.00% Due 2023 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 800,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||||||||
Senior Notes | Senior Notes, 4.150% Due 2024 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 700,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | ||||||||||||
Payments of debt issuance costs | $ 6,000,000 | ||||||||||||
Debt Instrument, Price | 99.649% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.193% | ||||||||||||
Senior Notes | Euro-Denominated Senior Notes, 1.500% Due 2025 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | ||||||||||||
Payments of debt issuance costs | $ 5,000,000 | ||||||||||||
Debt Instrument, Price | 99.54% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.55% | ||||||||||||
Senior Notes | Euro-Denominated Senior Notes, 1.500% Due 2025 | Designated as Hedging Instrument | Net Investment Hedging | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | € | € 700 | ||||||||||||
Senior Notes | 2015 Senior Notes | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 1,300,000,000 | ||||||||||||
Payments of debt issuance costs | 8,000,000 | ||||||||||||
Senior Notes | Senior Notes, 3.15% Due 2020 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 650,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.15% | ||||||||||||
Loss on extinguishment of debt | $ (6,000,000) | ||||||||||||
Debt Instrument, Price | 99.784% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.197% | ||||||||||||
Senior Notes | Senior Notes, 4.25% Due 2026 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 650,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||||||||||||
Debt Instrument, Price | 99.942% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.256% | ||||||||||||
Senior Notes | Euro-denominated Senior Notes, 1.600% Due 2028 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.60% | ||||||||||||
Payments of debt issuance costs | $ 4,000,000 | ||||||||||||
Debt Instrument, Price | 99.881% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.611% | ||||||||||||
Senior Notes | Euro-denominated Senior Notes, 1.600% Due 2028 | Designated as Hedging Instrument | Net Investment Hedging | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | € | € 500 | ||||||||||||
Senior Notes | Senior Notes, 4.400% Due 2046 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 300,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | 4.40% | |||||||||||
Payments of debt issuance costs | $ 3,000,000 | ||||||||||||
Debt Instrument, Price | 99.454% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.433% | ||||||||||||
Senior Notes | 2019 Senior Notes [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 650,000,000 | ||||||||||||
Payments of debt issuance costs | 7,000,000 | ||||||||||||
Senior Notes | Senior Notes, 4.35% Due 2029 [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 300,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.35% | 4.35% | |||||||||||
Debt Instrument, Price | 99.879% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.365% | ||||||||||||
Senior Notes | Senior Notes, 5.40% Due 2049 | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Face Amount | $ 350,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | 5.40% | |||||||||||
Debt Instrument, Price | 99.558% | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 5.43% |
Debt Other Financing (Details)
Debt Other Financing (Details) € in Millions, $ in Millions | Dec. 04, 2017USD ($) | Sep. 28, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019EUR (€) |
Debt Instrument [Line Items] | ||||||
Distribution Date | Dec. 4, 2017 | |||||
Other Debt and Finance Lease Obligations | $ 33 | $ 32 | ||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 153 | 134 | $ 124 | |||
Letters of Credit Issued | 2 | 2 | ||||
Dividend from Delphi Technologies Spin-Off | 0 | 0 | $ 1,148 | |||
Accounts Receivable Factoring | ||||||
Debt Instrument [Line Items] | ||||||
Accounts receivable factoring borrowings | 266 | 279 | ||||
European Factoring Program | Accounts Receivable Factoring | ||||||
Debt Instrument [Line Items] | ||||||
Maximum Funding From Factoring Program | € | € 300 | |||||
Accounts receivable factoring borrowings | $ 266 | $ 279 | ||||
European Factoring Program | EURIBOR | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread of variable rate | 0.42% | |||||
Debt Instrument, Interest Rate, Effective Percentage | 0.42% | 0.42% | ||||
Delphi Technologies Debt | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt | $ 1,550 | |||||
Spin-Off Tranche A Term Loan | ||||||
Debt Instrument [Line Items] | ||||||
Loans Payable | $ 750 | |||||
Senior Notes | Spin-Off Senior Notes, 5.000% Due 2025 | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Oct. 1, 2025 | |||||
Debt Instrument, Face Amount | $ 800 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% |
Pension Benefits Narrative (Det
Pension Benefits Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |||
Defined Benefit Pension Plan, Postemployment Benefit Period | 5 years | ||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | $ 50 | ||
Defined Contribution Plan, Cost | $ 40 | $ 37 | $ 36 |
Pension Benefits Funded Status
Pension Benefits Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets at beginning of year | $ 362 | ||
Fair Value of Plan Assets at end of year | 403 | $ 362 | |
Liability, Defined Benefit Plan [Abstract] | |||
Pension and Other Postretirement Defined Benefit Plans, Non-current Liabilities | (483) | (445) | |
United States | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 18 | 29 | |
Interest Cost | 1 | 1 | $ 1 |
Actuarial Loss (Gain) | 0 | 2 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (8) | (10) | |
Benefit obligation at end of year | 11 | 18 | 29 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets at beginning of year | 0 | 0 | |
Aptiv contributions | 8 | 10 | |
Benefits Paid | 8 | 10 | |
Fair Value of Plan Assets at end of year | 0 | 0 | 0 |
Defined Benefit Plan, Underfunded Status | (11) | (18) | |
Liability, Defined Benefit Plan [Abstract] | |||
Liability, Defined Benefit Plan, Current | (4) | (7) | |
Pension and Other Postretirement Defined Benefit Plans, Non-current Liabilities | (7) | (11) | |
Pension and Other Postretirement Defined Benefit Plans, Total Liabilities | (11) | (18) | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | 7 | 8 | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax | 7 | 8 | |
Non-U.S. Plans | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 809 | 835 | |
Defined Benefit Plan, Benefit Obligation, Business Combination | 0 | 25 | |
Service Cost | 17 | 17 | 48 |
Interest Cost | 25 | 23 | 54 |
Actuarial Loss (Gain) | 79 | (4) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (33) | (30) | |
Impact of curtailments | 7 | (1) | |
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 0 | (6) | |
Exchange rate movements and other | (4) | (62) | |
Benefit obligation at end of year | 900 | 809 | 835 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets at beginning of year | 362 | 377 | |
Defined Benefit Plan, Plan Assets, Business Combination | 0 | 19 | |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 40 | (6) | |
Aptiv contributions | 30 | 38 | |
Benefits Paid | 33 | 30 | |
Exchange rate movements and other | 4 | (36) | |
Fair Value of Plan Assets at end of year | 403 | 362 | $ 377 |
Defined Benefit Plan, Underfunded Status | (497) | (447) | |
Liability, Defined Benefit Plan [Abstract] | |||
Assets for Plan Benefits, Defined Benefit Plan | 2 | 2 | |
Liability, Defined Benefit Plan, Current | (25) | (17) | |
Pension and Other Postretirement Defined Benefit Plans, Non-current Liabilities | (474) | (432) | |
Pension and Other Postretirement Defined Benefit Plans, Total Liabilities | (497) | (447) | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | 188 | 143 | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax | 5 | 6 | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax | $ 193 | $ 149 |
Pension Benefits Benefit Obliga
Pension Benefits Benefit Obligations and Fair Value of Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract] | |||
Fair Value of Plan Assets | $ 403 | $ 362 | |
Liability, Other Retirement Benefits | 2 | 3 | |
United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 0 | (2) | |
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | (7) | (8) | |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Defined Benefit Plan, PBO | 11 | 18 | |
Defined Benefit Plan, ABO | 11 | 18 | |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract] | |||
Defined Benefit Plan, PBO | 0 | 0 | |
Defined Benefit Plan, ABO | 0 | 0 | |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation | 11 | 18 | $ 29 |
Defined Benefit Plan, Accumulated Benefit Obligation | 11 | 18 | |
Fair Value of Plan Assets | 0 | 0 | 0 |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | 8 | 10 | |
Non-U.S. Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets for Plan Benefits, Defined Benefit Plan | 2 | 2 | |
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | (79) | 4 | |
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax | (188) | (143) | |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Defined Benefit Plan, PBO | 770 | 699 | |
Defined Benefit Plan, ABO | 721 | 655 | |
Defined Benefit Plan, Fair Value of Plan Assets | 291 | 258 | |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract] | |||
Defined Benefit Plan, PBO | 130 | 110 | |
Defined Benefit Plan, ABO | 97 | 85 | |
Defined Benefit Plan, Fair Value of Plan Assets | 112 | 104 | |
Defined Benefit Plan, Benefit Obligation | 900 | 809 | 835 |
Defined Benefit Plan, Accumulated Benefit Obligation | 818 | 740 | |
Fair Value of Plan Assets | 403 | 362 | $ 377 |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax | 5 | 6 | |
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) | 40 | (6) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | $ 33 | $ 30 |
Pension Benefits Net Periodic B
Pension Benefits Net Periodic Benefit Cost (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage Change in Actuarial Assumptions and Plan Provisions Amortized | 10.00% | ||
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | $ 15,000,000 | ||
Non-U.S. Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service Cost | 17,000,000 | $ 17,000,000 | $ 48,000,000 |
Interest Cost | 25,000,000 | 23,000,000 | 54,000,000 |
Expected Return on Plan Assets | (18,000,000) | (22,000,000) | (63,000,000) |
Settlement loss | 1,000,000 | 3,000,000 | 1,000,000 |
Curtailment loss (gain) | 7,000,000 | (1,000,000) | 16,000,000 |
Amortization of actuarial losses | 9,000,000 | 13,000,000 | 35,000,000 |
Other costs | 1,000,000 | 0 | 0 |
Net Periodic Benefit Cost | 42,000,000 | 33,000,000 | 91,000,000 |
United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest Cost | 1,000,000 | 1,000,000 | 1,000,000 |
Amortization of actuarial losses | 1,000,000 | 1,000,000 | 1,000,000 |
Net Periodic Benefit Cost | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 |
Pension Benefits Assumptions Us
Pension Benefits Assumptions Used (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Mexico | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Weighted-Average Expected Long-term Rate of Return on Plan Assets | 7.50% | ||
United States | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Weighted-Average Discount Rate | 2.40% | 3.80% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Weighted-Average Discount Rate | 3.80% | 2.70% | 2.70% |
Non-U.S. Plans | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Weighted-Average Discount Rate | 2.87% | 3.53% | |
Defined Benefit Plan, Weighted-Average Rate of Increase In Compensation Levels | 3.69% | 3.74% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Weighted-Average Discount Rate | 3.53% | 3.39% | 2.83% |
Defined Benefit Plan, Weighted-Average Rate of Increase In Compensation Levels | 3.74% | 3.65% | 3.86% |
Defined Benefit Plan, Weighted-Average Expected Long-term Rate of Return on Plan Assets | 4.95% | 5.63% | 5.84% |
United Kingdom | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Weighted-Average Expected Long-term Rate of Return on Plan Assets | 4.50% |
Pension Benefits Change in Assu
Pension Benefits Change in Assumptions (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Retirement Benefits [Abstract] | |
Defined Benefit Plan, Change in Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate Decrease | 0.25% |
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Discount Rate Decrease | $ 2 |
Defined Benefit Plan, Change in Assumptions Used Calculating Benefit Obligation, Discount Rate Decrease | 0.25% |
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Benefit Obligation, Discount Rate Decrease | $ 31 |
Defined Benefit Plan, Change in Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate Increase | 0.25% |
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Discount Rate Increase | $ (2) |
Defined Benefit Plan, Change in Assumptions Used Calculating Benefit Obligation, Discount Rate Increase | 0.25% |
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Benefit Obligation, Discount Rate Increase | $ (30) |
Defined Benefit Plan, Change in Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets Decrease | 0.25% |
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets Decrease | $ 1 |
Defined Benefit Plan, Change in Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets Increase | 0.25% |
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets Increase | $ (1) |
Pension Benefits Expected Futur
Pension Benefits Expected Future Benefit Payments (Details) $ in Millions | Dec. 31, 2019USD ($) |
United States | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | $ 5 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 3 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 1 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 1 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 1 |
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | 1 |
Non-U.S. Plans | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months | 55 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 35 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 38 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 43 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 44 |
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | $ 273 |
Pension Benefits Fair Value of
Pension Benefits Fair Value of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | $ 403 | $ 362 | |
Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 21 | 22 | |
Time Deposits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 25 | 23 | |
Equity Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 31 | 25 | |
Bond Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 174 | 148 | |
Real Estate Trust Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 31 | 24 | |
Hedge Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 15 | 21 | |
Insurance Contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 7 | 6 | |
Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 57 | 53 | |
Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 42 | 40 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 120 | 115 | |
Level 1 | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 21 | 22 | |
Level 1 | Time Deposits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 1 | Equity Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 1 | Bond Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 1 | Real Estate Trust Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 1 | Hedge Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 1 | Insurance Contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 1 | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 57 | 53 | |
Level 1 | Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 42 | 40 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 230 | 196 | |
Level 2 | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 2 | Time Deposits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 25 | 23 | |
Level 2 | Equity Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 31 | 25 | |
Level 2 | Bond Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 174 | 148 | |
Level 2 | Real Estate Trust Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 2 | Hedge Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 2 | Insurance Contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 2 | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 2 | Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 53 | 51 | |
Level 3 | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 3 | Time Deposits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 3 | Equity Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 3 | Bond Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 3 | Real Estate Trust Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 31 | 24 | $ 13 |
Level 3 | Hedge Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 15 | 21 | 27 |
Level 3 | Insurance Contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 7 | 6 | $ 6 |
Level 3 | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Level 3 | Equity Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | $ 0 | $ 0 |
Pension Benefits Fair Value o_2
Pension Benefits Fair Value of Plan Assets, Unobservable Input Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Fair Value of Plan Assets at beginning of year | $ 362 | |
Fair Value of Plan Assets at end of year | 403 | $ 362 |
Level 3 | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Fair Value of Plan Assets at beginning of year | 51 | |
Fair Value of Plan Assets at end of year | 53 | 51 |
Real Estate Trust Funds | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Fair Value of Plan Assets at beginning of year | 24 | |
Fair Value of Plan Assets at end of year | 31 | 24 |
Real Estate Trust Funds | Level 3 | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Actual Return on Plan Assets Still Held at the Reporting Date | 0 | 2 |
Purchases, Sales, and Settlements | 6 | 9 |
Foreign currency translation and other | 1 | 0 |
Fair Value of Plan Assets at beginning of year | 24 | 13 |
Fair Value of Plan Assets at end of year | 31 | 24 |
Hedge Funds | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Fair Value of Plan Assets at beginning of year | 21 | |
Fair Value of Plan Assets at end of year | 15 | 21 |
Hedge Funds | Level 3 | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Actual Return on Plan Assets Still Held at the Reporting Date | (1) | 0 |
Purchases, Sales, and Settlements | (6) | (4) |
Foreign currency translation and other | 1 | (2) |
Fair Value of Plan Assets at beginning of year | 21 | 27 |
Fair Value of Plan Assets at end of year | 15 | 21 |
Insurance Contracts | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Fair Value of Plan Assets at beginning of year | 6 | |
Fair Value of Plan Assets at end of year | 7 | 6 |
Insurance Contracts | Level 3 | ||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement [Abstract] | ||
Actual Return on Plan Assets Still Held at the Reporting Date | 0 | 0 |
Purchases, Sales, and Settlements | 0 | 0 |
Foreign currency translation and other | 1 | 0 |
Fair Value of Plan Assets at beginning of year | 6 | 6 |
Fair Value of Plan Assets at end of year | $ 7 | $ 6 |
Commitments And Contingencies U
Commitments And Contingencies Unsecured Creditors Litigation (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jul. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loss Contingencies [Line Items] | ||||||
Loss Contingency Accrual, Provision | $ 0 | $ 0 | $ 10 | |||
Unsecured Creditors Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency Accrual, Provision | $ 10 | |||||
Litigation Settlement, Amount Awarded to Other Party | $ 310 | |||||
Payments for Legal Settlements | $ 310 | |||||
Judicial Ruling | Unsecured Creditors Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Per share loss contingency accrual provision | $ 1.10 | |||||
Other income (expense), net | Judicial Ruling | Unsecured Creditors Litigation | ||||||
Loss Contingencies [Line Items] | ||||||
Loss Contingency Accrual, Provision | $ 300 |
Commitments And Contingencies B
Commitments And Contingencies Brazil Matters (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loss Contingencies [Line Items] | |||
Loss Contingency Accrual, Provision | $ 0 | $ 0 | $ 10 |
Brazil | |||
Loss Contingencies [Line Items] | |||
Brazil Loss Contingency, Claims asserted against Delphi | 140 | ||
Loss contingency accrual | 30 | ||
Minimum | Brazil | |||
Loss Contingencies [Line Items] | |||
Range of Possible Loss, Portion Not Accrued | 0 | ||
Maximum | Brazil | |||
Loss Contingencies [Line Items] | |||
Range of Possible Loss, Portion Not Accrued | $ 110 |
Commitments And Contingencies E
Commitments And Contingencies Environmental Matters (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Environmental Exit Cost [Line Items] | ||
Accrual for Environmental Loss Contingencies | $ 4 | $ 4 |
Accrued Environmental Loss Contingencies, Noncurrent | 3 | 3 |
Accrued Liabilities | ||
Environmental Exit Cost [Line Items] | ||
Accrued Environmental Loss Contingencies, Current | 1 | 1 |
Other Long-Term Liabilities | ||
Environmental Exit Cost [Line Items] | ||
Accrued Environmental Loss Contingencies, Noncurrent | $ 3 | $ 3 |
Income Taxes Income before Inco
Income Taxes Income before Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
U.S. income | $ (1) | $ 369 | $ (32) |
Non-U.S. income | 1,127 | 965 | 1,287 |
Income from continuing operations before income taxes and equity income | $ 1,126 | $ 1,334 | $ 1,255 |
Income Taxes Components of Inco
Income Taxes Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
U.S. federal | $ 8 | $ 40 | $ 37 |
Non-U.S. | 156 | 214 | 214 |
U.S. state and local | 1 | 10 | (2) |
Total current | 165 | 264 | 249 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
U.S. federal | (23) | 13 | (15) |
Non-U.S. | (8) | (16) | (12) |
U.S. state and local | (2) | (11) | 1 |
Total deferred | (33) | (14) | (26) |
Total income tax expense | 132 | 250 | 223 |
Income Taxes Paid or Withheld | $ 189 | $ 283 | $ 275 |
Income Taxes Income Tax Rate Re
Income Taxes Income Tax Rate Reconciliation (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Examination [Line Items] | |||||
Deferred Tax Liabilities, Net | $ 65 | $ 90 | |||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||||
Notional U.S. federal income taxes at statutory rate | 236 | 280 | $ 439 | ||
Income taxed at other rates | (92) | (106) | (260) | ||
Change in valuation allowance | (18) | (4) | (6) | ||
Effective Income Tax Rate Reconciliation, Tax Contingency, Other, Amount | 20 | 36 | 25 | ||
Witholding taxes | 19 | 28 | 64 | ||
Tax credits | 18 | 18 | 32 | ||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 1 | 26 | (6) | ||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | $ 24 | (16) | 8 | (1) | |
Total income tax expense | $ 132 | $ 250 | $ 223 | ||
Effective tax rate | 12.00% | 19.00% | 18.00% | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 0 | $ (9) | |||
Income Tax Reconciliation, Other Reconciling Items [Abstract] | |||||
Income Taxed at Other Rates Foreign Income Rate Differential in China, Turkey, and Honduras | 19 | 41 | $ 45 | ||
Income Tax Holiday, Aggregate Dollar Amount | $ 7 | $ 7 | $ 7 | ||
Income Tax Holiday, Income Tax Benefits Per Share | $ 0.03 | $ 0.03 | $ 0.03 | ||
Income Tax Effects Allocated Directly to Equity, Other | $ 64 | ||||
United States | |||||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 25 | $ 30 | $ 50 | ||
Intellectual Property [Member] | |||||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 30 | ||||
Retained Earnings | |||||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 9 | $ (9) |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Tax Assets, Net of Valuation Allowance [Abstract] | |||
Pension | $ 95 | $ 88 | |
Employee Benefits | 43 | 43 | |
Net operating loss carryforwards | 993 | 1,089 | |
Warranty and other liabilities | 72 | 63 | |
Deferred Tax Assets, Leasing Arrangements | 84 | 0 | |
Other | 149 | 136 | |
Total gross deferred tax assets | 1,436 | 1,419 | |
Less: valuation allowances | (1,075) | (1,178) | |
Total deferred tax assets (1) | [1] | 361 | 241 |
Deferred Tax Liabilities, Gross [Abstract] | |||
Fixed assets | 48 | 38 | |
Tax on unremitted profits of certain foreign subsidiaries | 56 | 59 | |
Intangibles | 238 | 234 | |
Deferred Tax Liabilities, Leasing Arrangements | 84 | 0 | |
Total gross deferred tax liabilities | 426 | 331 | |
Net deferred tax liabilities | $ (65) | $ (90) | |
[1] | Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities. |
Income Taxes Deferred Tax Ass_2
Income Taxes Deferred Tax Assets, Balance Sheet Location (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Tax Asset, Balance Sheet Location [Line Items] | ||
Deferred Tax Liabilities, Net | $ (65) | $ (90) |
Long-term assets | ||
Deferred Tax Asset, Balance Sheet Location [Line Items] | ||
Deferred Tax Assets, Net | 164 | 143 |
Long-term liabilities | ||
Deferred Tax Asset, Balance Sheet Location [Line Items] | ||
Deferred Tax Liabilities, Net | $ (229) | $ (233) |
Income Taxes NOL & Tax Credit C
Income Taxes NOL & Tax Credit Carryforwards and Undistributed Foreign Earnings (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract] | ||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $ 987 | |
Deferred Tax Assets, Tax Credit Carryforwards | 75 | $ 64 |
Deferred Tax Assets, Valuation Allowance | 1,075 | 1,178 |
Undistributed Earnings of Foreign Subsidiaries [Abstract] | ||
Deferred Tax Liabilities, Undistributed Foreign Earnings | 56 | 59 |
Foreign Tax Authority | Valuation Allowance, Operating Loss Carryforwards | ||
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract] | ||
Deferred Tax Assets, Valuation Allowance | 935 | |
Foreign Tax Authority | Valuation Allowance, Tax Credit Carryforward | ||
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract] | ||
Deferred Tax Assets, Valuation Allowance | $ 71 | $ 62 |
Foreign Tax Authority | Minimum | ||
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract] | ||
Operating Loss Carryforwards, Expiration Dates, Period | 1 year |
Income Taxes Unrecognized Tax B
Income Taxes Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 15 | ||
Uncertain Tax Positions More Likely Than Not Largest Amount of Benefit Percentage | 50.00% | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of period | $ 209 | $ 224 | $ 180 |
Additions related to current year | 20 | 33 | 51 |
Additions related to prior year | 51 | 65 | 40 |
Reductions related to prior year | (46) | (19) | (31) |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 11 | 78 | 15 |
Settlements | (6) | (16) | (1) |
Balance at end of period | 217 | 209 | 224 |
Income Tax Uncertainties [Abstract] | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 200 | 203 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate, Write off of Related Deferred Tax Asset | 52 | 18 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 14 | 12 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense (Benefit) | 7 | $ (7) | $ 5 |
Tax Year 2018 [Member] | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | $ 26 |
Shareholders' Equity And Net _3
Shareholders' Equity And Net Income Per Share Weighted Average Shares Outstanding and Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator: | |||||||||||
Income from continuing operations | $ 990 | $ 1,067 | $ 1,021 | ||||||||
Income from discontinued operations | 0 | 0 | 334 | ||||||||
Net income attributable to Aptiv | $ 230 | $ 246 | $ 274 | $ 240 | $ 247 | $ 222 | $ 291 | $ 307 | $ 990 | $ 1,067 | $ 1,355 |
Denominator: | |||||||||||
Weighted average number of basic shares outstanding | 255,310 | 255,890 | 257,020 | 259,080 | 262,610 | 264,560 | 264,810 | 265,690 | 256,810 | 264,410 | 267,160 |
Dilutive shares related to RSUs | 580 | 810 | 870 | ||||||||
Weighted average ordinary shares outstanding, including dilutive shares | 256,360 | 256,440 | 257,260 | 259,550 | 263,650 | 265,330 | 265,480 | 266,440 | 257,390 | 265,220 | 268,030 |
Basic net income per share: | |||||||||||
Income from continuing operations, per basic share | $ 3.85 | $ 4.04 | $ 3.82 | ||||||||
Income from discontinued operations, per basic share | 0 | 0 | 1.25 | ||||||||
Basic net income per share attributable to Aptiv | $ 0.90 | $ 0.96 | $ 1.07 | $ 0.93 | $ 0.94 | $ 0.84 | $ 1.10 | $ 1.16 | 3.85 | 4.04 | 5.07 |
Diluted net income per share: | |||||||||||
Income from continuing operations, per diluted share | 3.85 | 4.02 | 3.81 | ||||||||
Income from discontinued operations, per diluted share | 0 | 0 | 1.25 | ||||||||
Diluted net income per share attributable to Aptiv | $ 0.90 | $ 0.96 | $ 1.07 | $ 0.92 | $ 0.94 | $ 0.84 | $ 1.10 | $ 1.15 | 3.85 | 4.02 | 5.06 |
Anti-dilutive securities share impact | $ 0 | $ 0 | $ 0 |
Shareholders' Equity And Net _4
Shareholders' Equity And Net Income Per Share Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share Repurchase Program [Line Items] | |||
Stock Repurchased During Period, Shares | 5,387,533 | 6,530,369 | 4,667,193 |
Stock Repurchased, Average Price | $ 77.93 | $ 76.44 | $ 82 |
Stock Repurchased During Period, Value | $ 420 | $ 499 | $ 383 |
Share Repurchase Program April 2016 | |||
Share Repurchase Program [Line Items] | |||
Stock Repurchase Program, Authorized Amount | 1,500 | ||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 70 | ||
Share Repurchase Program January 2019 | |||
Share Repurchase Program [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 2,000 |
Shareholders' Equity And Net _5
Shareholders' Equity And Net Income Per Share Dividends (Details) - USD ($) $ / shares in Units, $ in Millions | Nov. 22, 2017 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
Dividends Payable [Line Items] | ||||||||||||
Payments of Cash Dividends | $ 56 | $ 56 | $ 57 | $ 57 | $ 58 | $ 58 | $ 58 | $ 59 | $ 226 | $ 233 | ||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.88 | $ 0.88 | ||
Record Date | Nov. 22, 2017 | |||||||||||
Subsequent Event [Member] | ||||||||||||
Dividends Payable [Line Items] | ||||||||||||
Cash dividends declared per share | $ 0.22 |
Shareholders' Equity And Net _6
Shareholders' Equity And Net Income Per Share Other (Details) - USD ($) $ in Millions | 11 Months Ended | 12 Months Ended | |||
Nov. 22, 2011 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Shareholders' Equity and Net Income Per Share [Line Items] | |||||
Initial Offering Period | Nov. 22, 2011 | ||||
Loss Contingency Accrual, Provision | $ 0 | $ 0 | $ 10 | ||
Unsecured Creditors Litigation | |||||
Shareholders' Equity and Net Income Per Share [Line Items] | |||||
Loss Contingency Accrual, Provision | $ 10 | ||||
Other income (expense), net | Unsecured Creditors Litigation | Judicial Ruling | |||||
Shareholders' Equity and Net Income Per Share [Line Items] | |||||
Loss Contingency Accrual, Provision | $ 300 |
Changes in Accumulated Other _3
Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income (loss), beginning of period | $ (694) | $ (471) | ||
Accumulated other comprehensive income (loss), end of period | (719) | (694) | $ (471) | |
Spin-Off of Delphi Technologies | (25) | (1,561) | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 0 | (9) | ||
Designated as Hedging Instrument | Net Investment Hedging | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Gain (loss) on Net Investment Hedge, net of tax | 29 | 67 | (177) | |
Foreign currency translation adjustments | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income (loss), beginning of period | (555) | (369) | (799) | |
Aggregate adjustment for the year | [1] | (42) | (186) | 305 |
Accumulated other comprehensive income (loss), end of period | (597) | (555) | (369) | |
Spin-Off of Delphi Technologies | 0 | 0 | 125 | |
Unrealized gains (losses) on derivatives | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income (loss), beginning of period | (35) | 4 | (11) | |
Other comprehensive income before reclassifications (net of tax effect) | 50 | (36) | 14 | |
Reclassification to income (net of tax effect) | 6 | (3) | 1 | |
Accumulated other comprehensive income (loss), end of period | 13 | (35) | 4 | |
Net tax effect of Other comprehensive income before reclassifications | 0 | 3 | 1 | |
Net tax effect of Reclassification Adjustment from AOCI on Derivatives | 0 | 3 | 6 | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (8) | 0 | 0 | |
Pension and postretirement plans | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income (loss), beginning of period | (104) | (106) | (405) | |
Other comprehensive income before reclassifications (net of tax effect) | (37) | (11) | (19) | |
Reclassification to income (net of tax effect) | 7 | 13 | 30 | |
Accumulated other comprehensive income (loss), end of period | (135) | (104) | (106) | |
Net tax effect of Other comprehensive income before reclassifications | 17 | 3 | 3 | |
Net tax effect of Reclassification Adjustment from AOCI, Pension and Other Postretirement Plans | 3 | 2 | 6 | |
Spin-Off of Delphi Technologies | 0 | 0 | 288 | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ (1) | $ 0 | $ 0 | |
[1] | Includes $29 million of gains, $67 million of gains and $177 million of losses for the years ended December 31, 2019 , 2018 and 2017 , respectively, related to non-derivative net investment hedges. Refer to Note 17. Derivatives and Hedging Activities for further description of the Company’s net investment hedges. |
Changes in Accumulated Other _4
Changes in Accumulated Other Comprehensive Income (Loss) AOCI Reclassifications (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||||||
Cost of Goods and Services Sold | $ 2,909 | $ 2,882 | $ 2,958 | $ 2,962 | $ 2,967 | $ 2,834 | $ 2,958 | $ 2,947 | $ 11,711 | $ 11,706 | $ 10,270 | |
Other Income | 20 | 36 | 8 | |||||||||
Income tax expense | (132) | (250) | (223) | |||||||||
Income from continuing operations | 241 | 252 | 271 | 245 | 257 | 231 | 303 | 316 | 1,009 | 1,107 | 1,063 | |
Net income attributable to noncontrolling interest | (19) | (40) | (73) | |||||||||
Net income attributable to Aptiv | $ 230 | $ 246 | $ 274 | $ 240 | $ 247 | $ 222 | $ 291 | $ 307 | 990 | 1,067 | 1,355 | |
Amount Reclassified from Accumulated Other Comprehensive Income | ||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||||||
Net income attributable to Aptiv | (13) | (10) | (31) | |||||||||
Amount Reclassified from Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivatives | ||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||||||
Total (loss) income before income taxes | (6) | 0 | (7) | |||||||||
Income tax expense | 0 | 3 | 6 | |||||||||
Income from continuing operations | (6) | 3 | (1) | |||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | |||||||||
Net income attributable to Aptiv | (6) | 3 | (1) | |||||||||
Amount Reclassified from Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivatives | Commodity Derivative | ||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||||||
Cost of Goods and Services Sold | 15 | (14) | (18) | |||||||||
Amount Reclassified from Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivatives | Foreign Currency Derivative | ||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||||||
Cost of Goods and Services Sold | (9) | 14 | (25) | |||||||||
Amount Reclassified from Accumulated Other Comprehensive Income | Pension and postretirement plans | ||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||||||||
Actuarial gains/(losses) | [1] | (10) | (14) | (35) | ||||||||
Settlement loss | [1] | 0 | (2) | (1) | ||||||||
Curtailment gain | [1] | 0 | 1 | 0 | ||||||||
Total (loss) income before income taxes | (10) | (15) | (36) | |||||||||
Income tax expense | 3 | 2 | 6 | |||||||||
Income from continuing operations | (7) | (13) | (30) | |||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | |||||||||
Net income attributable to Aptiv | $ (7) | $ (13) | $ (30) | |||||||||
[1] | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 12. Pension Benefits for additional details). |
Derivatives And Hedging Activ_3
Derivatives And Hedging Activities Cash Flow Hedges (Details) lb in Thousands, ₺ in Millions, € in Millions, ¥ in Millions, zł in Millions, $ in Millions, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($)lb | Dec. 31, 2019EUR (€)lb | Dec. 31, 2019MXN ($)lb | Dec. 31, 2019CNY (¥)lb | Dec. 31, 2019TRY (₺)lb | Dec. 31, 2019PLN (zł)lb | |
Derivative [Line Items] | ||||||||
Net derivative gains (losses) from cash flow hedges included in accumulated other comprehensive income, before tax | $ (33) | |||||||
Net derivative gains (losses) from cash flow hedges included in accumulated other comprehensive income, net of tax | 33 | |||||||
Scenario, Forecast | Cost of Sales | ||||||||
Derivative [Line Items] | ||||||||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | $ (9) | $ (24) | ||||||
Foreign Currency Derivative | Euro Member Countries, Euro | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | $ 235 | € 208 | ||||||
Cash Flow Hedging | Copper | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Nonmonetary Notional Amount | lb | 73,487 | 73,487 | 73,487 | 73,487 | 73,487 | 73,487 | ||
Derivative, Notional Amount | $ 200 | |||||||
Cash Flow Hedging | Foreign Currency Derivative | Mexico, Pesos | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 880 | $ 16,624 | ||||||
Cash Flow Hedging | Foreign Currency Derivative | China, Yuan Renminbi | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 425 | ¥ 2,957 | ||||||
Cash Flow Hedging | Foreign Currency Derivative | Poland, Zlotych | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 135 | zł 521 | ||||||
Cash Flow Hedging | Foreign Currency Derivative | Turkey, New Lira | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | $ 5 | ₺ 21 |
Derivatives And Hedging Activ_4
Derivatives And Hedging Activities Net Investment Hedges (Details) € in Millions, ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019CNY (¥) | Sep. 15, 2016EUR (€) | Mar. 10, 2015EUR (€) | |
Derivative [Line Items] | ||||||
Settlement of derivatives | $ 0 | $ 2 | $ 28 | |||
Net Investment Hedging | Designated as Hedging Instrument | ||||||
Derivative [Line Items] | ||||||
Gain (loss) on Net Investment Hedge, net of tax | 29 | 67 | (177) | |||
Net Investment Hedging | Designated as Hedging Instrument | Euro-Denominated Senior Notes, 1.500% Due 2025 | Senior Notes | ||||||
Derivative [Line Items] | ||||||
Debt instrument designated as net investment hedge | € | € 700 | |||||
Gain (loss) on Net Investment Hedge, net of tax | 67 | |||||
Net investment hedge gains (losses) included in accumulated other comprehensive income | (50) | |||||
Net Investment Hedging | Designated as Hedging Instrument | Euro-denominated Senior Notes, 1.600% Due 2028 | Senior Notes | ||||||
Derivative [Line Items] | ||||||
Debt instrument designated as net investment hedge | € | € 500 | |||||
Net Investment Hedging | Designated as Hedging Instrument | Euro-Denominated Senior Notes, 1.500% Due 2025 and Euro-Denominated Senior Notes, 1.600% Due 2028 | Senior Notes | ||||||
Derivative [Line Items] | ||||||
Gain (loss) on Net Investment Hedge, net of tax | 29 | |||||
Net investment hedge gains (losses) included in accumulated other comprehensive income | (21) | |||||
Foreign Exchange Forward [Member] | China, Yuan Renminbi | Net Investment Hedging | Designated as Hedging Instrument | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | 55 | ¥ 374 | ||||
Settlement of derivatives | $ 0 | $ (6) | $ (28) |
Derivatives And Hedging Activ_5
Derivatives And Hedging Activities Derivatives Not Designated as Hedges (Details) $ in Millions, ₩ in Billions | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Mar. 01, 2018USD ($) | Mar. 01, 2018KRW (₩) | |
Derivative [Line Items] | |||||
Settlement of derivatives | $ 0 | $ 2 | $ 28 | ||
Not Designated as Hedging Instrument | |||||
Derivative [Line Items] | |||||
Derivative, Gain (Loss) on Derivative, Net | $ 1 | (2) | $ (5) | ||
Kum [Member] | Not Designated as Hedging Instrument | Foreign Exchange Forward [Member] | Korea (South), Won | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 520 | ₩ 559 | |||
Settlement of derivatives | (4) | ||||
Derivative, Gain (Loss) on Derivative, Net | $ 4 |
Derivatives And Hedging Activ_6
Derivatives And Hedging Activities Fair Value of Derivative Instruments in the Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | ||
Designated as Hedging Instrument | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | $ 46 | $ 11 | ||
Gross amount of recognized liability derivatives | 11 | 31 | ||
Designated as Hedging Instrument | Foreign Currency Derivative | Other Current Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | 9 | |||
Gross amount of recognized liability derivatives | 3 | |||
Designated as Hedging Instrument | Foreign Currency Derivative | Other Long-Term Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | 8 | [1] | 2 | |
Gross amount of recognized liability derivatives | 2 | [1] | 0 | |
Net amount of derivative asset presented in the Balance Sheet | [1] | 2 | ||
Not Designated as Hedging Instrument | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | 0 | |||
Gross amount of recognized liability derivatives | 1 | |||
Not Designated as Hedging Instrument | Foreign Currency Derivative | Accrued Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | [1] | 0 | ||
Gross amount of recognized liability derivatives | [1] | 1 | ||
Net amount of derivative liability presented in the Balance Sheet | [1] | 1 | ||
Cash Flow Hedging | Designated as Hedging Instrument | Commodity Derivative | Other Current Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | 1 | 0 | ||
Cash Flow Hedging | Designated as Hedging Instrument | Commodity Derivative | Accrued Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized liability derivatives | 3 | 15 | ||
Cash Flow Hedging | Designated as Hedging Instrument | Commodity Derivative | Other Long-Term Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | 2 | 0 | ||
Cash Flow Hedging | Designated as Hedging Instrument | Commodity Derivative | Other Long-Term Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized liability derivatives | 0 | 7 | ||
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Currency Derivative | Other Current Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | [1] | 35 | ||
Gross amount of recognized liability derivatives | [1] | 6 | ||
Net amount of derivative asset presented in the Balance Sheet | [1] | 29 | 6 | |
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Currency Derivative | Accrued Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | [1] | 0 | ||
Gross amount of recognized liability derivatives | [1] | 4 | ||
Net amount of derivative liability presented in the Balance Sheet | [1] | (4) | ||
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Currency Derivative | Other Long-Term Assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Net amount of derivative asset presented in the Balance Sheet | [1] | $ 6 | ||
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Currency Derivative | Other Long-Term Liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Gross amount of recognized asset derivatives | [1] | 0 | ||
Gross amount of recognized liability derivatives | [1] | 2 | ||
Net amount of derivative liability presented in the Balance Sheet | [1] | $ (2) | ||
[1] | Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts. |
Derivatives And Hedging Activ_7
Derivatives And Hedging Activities Effect of Derivative Instruments in Consolidated Statement of Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Designated as Hedging Instrument | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Loss recognized in OCI (Effective Portion) | $ 50 | $ 33 | $ (15) |
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | 6 | 0 | 7 |
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Derivative | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Loss recognized in OCI (Effective Portion) | 7 | (45) | (45) |
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | (15) | 14 | (18) |
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Derivative | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Loss recognized in OCI (Effective Portion) | 44 | (14) | (4) |
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | (9) | 14 | 27 |
Designated as Hedging Instrument | Net Investment Hedging | Foreign Currency Derivative | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Loss recognized in OCI (Effective Portion) | 1 | (2) | (34) |
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | 0 | 0 | (2) |
Not Designated as Hedging Instrument | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative, Gain on Derivative | (1) | 2 | 5 |
Not Designated as Hedging Instrument | Foreign Currency Derivative | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative, Gain on Derivative | $ (1) | $ 2 | $ 5 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | $ 0 | $ (23) | $ 14 |
Derivative, Fair Value, Net | 34 | (20) | |
Total debt, recorded amount | 4,364 | 4,344 | |
Total debt, fair value | 4,593 | 4,222 | |
Impairment of Long-Lived Assets Held-for-use | 3 | 4 | 9 |
Costs associated with acquisitions | 14 | ||
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent consideration liability | 51 | 49 | |
Cost of Sales | Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | 3 | 4 | 9 |
Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total debt, fair value | 4,593 | 4,222 | |
Level 2 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent consideration liability | 0 | 0 | |
Other Current Liabilities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent consideration liability | 16 | 16 | |
Other Long-Term Liabilities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent consideration liability | 35 | 33 | |
Contingent Consideration liability | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (23) | ||
Contingent Consideration liability | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent consideration liability | $ 51 | $ 49 | $ 33 |
Fair Value Of Financial Instr_4
Fair Value Of Financial Instruments Unobservable Input Reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 8 | $ 30 | $ 0 |
Escrow Deposit | 16 | ||
Measurement adjustments | 0 | 23 | (14) |
Fair Value, Measurements, Recurring | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair value at beginning of year | 49 | ||
Fair value at end of year | 51 | 49 | |
Contingent Consideration liability | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Payments | 0 | 7 | |
Interest accretion | 2 | 0 | |
Measurement adjustments | 23 | ||
Contingent Consideration liability | Fair Value, Measurements, Recurring | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair value at beginning of year | 49 | 33 | |
Fair value at end of year | $ 51 | $ 49 | $ 33 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 8 | $ 30 | $ 0 |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 38 | 8 | |
Contingent consideration liability | 51 | 49 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 55 | 77 | |
Fair Value, Measurements, Recurring | Commodity derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 3 | ||
Derivative Liability | 3 | 22 | |
Fair Value, Measurements, Recurring | Foreign currency derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 35 | 8 | |
Derivative Liability | 1 | 6 | |
Fair Value, Measurements, Recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Contingent consideration liability | 0 | 0 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Commodity derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability | 0 | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Foreign currency derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 38 | 8 | |
Contingent consideration liability | 0 | 0 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 4 | 28 | |
Fair Value, Measurements, Recurring | Level 2 | Commodity derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 3 | ||
Derivative Liability | 3 | 22 | |
Fair Value, Measurements, Recurring | Level 2 | Foreign currency derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 35 | 8 | |
Derivative Liability | 1 | 6 | |
Fair Value, Measurements, Recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 0 | 0 | |
Contingent consideration liability | 51 | 49 | |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 51 | 49 | |
Fair Value, Measurements, Recurring | Level 3 | Commodity derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability | 0 | 0 | |
Fair Value, Measurements, Recurring | Level 3 | Foreign currency derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset | 0 | 0 | |
Derivative Liability | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 8 | $ 30 |
Other Income, Net Table (Detail
Other Income, Net Table (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest income | $ 13 | $ 21 | $ 7 | |
Loss on extinguishment of debt | (6) | 0 | 0 | |
Components of net periodic benefit cost other than service cost | 27 | 18 | 32 | |
Reserve for Unsecured Creditors litigation | 0 | 0 | (10) | |
Costs associated with acquisitions | (14) | |||
Contingent consideration liability fair value adjustment | 0 | (23) | 14 | |
Other Nonoperating Income (Expense) | 20 | 36 | 8 | |
Other expense, net | 14 | 2 | (21) | |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 19 | $ 0 | 0 | |
Unsecured Creditors Litigation | ||||
Reserve for Unsecured Creditors litigation | (10) | |||
Unsecured Creditors Litigation | Judicial Ruling | Other income (expense), net | ||||
Reserve for Unsecured Creditors litigation | $ (300) | |||
gabocom [Member] | ||||
Costs associated with acquisitions | $ (5) | |||
nutonomy | ||||
Costs associated with acquisitions | $ (8) |
Other Income, Net Narrative (De
Other Income, Net Narrative (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Jul. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Feb. 14, 2013 | May 17, 2011 | |
Other Nonoperating Income (Expense) | $ 20,000,000 | $ 36,000,000 | $ 8,000,000 | |||||
Loss Contingency Accrual, Provision | 0 | 0 | (10,000,000) | |||||
Loss on extinguishment of debt | (6,000,000) | 0 | 0 | |||||
Components of net periodic benefit cost other than service cost | (27,000,000) | (18,000,000) | (32,000,000) | |||||
Costs associated with acquisitions | (14,000,000) | |||||||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 19,000,000 | 0 | 0 | |||||
Other income (expense), net | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Powertrain Systems [Member] | ||||||||
Transition Services Agreement Fees | 4,000,000 | 11,000,000 | ||||||
Not Designated as Hedging Instrument | ||||||||
Derivative, Gain (Loss) on Derivative, Net | 1,000,000 | (2,000,000) | (5,000,000) | |||||
gabocom [Member] | ||||||||
Costs associated with acquisitions | $ (5,000,000) | |||||||
KUM and Winchester [Member] | ||||||||
Costs associated with acquisitions | (18,000,000) | |||||||
Kum [Member] | Foreign Exchange Forward [Member] | Korea (South), Won | Not Designated as Hedging Instrument | ||||||||
Derivative, Gain (Loss) on Derivative, Net | $ 4,000,000 | |||||||
nutonomy | ||||||||
Costs associated with acquisitions | (8,000,000) | |||||||
Senior Notes | Senior Notes, 5.00% Due 2023 | ||||||||
Debt Instrument, Face Amount | $ 800,000,000 | |||||||
Senior Notes | Senior Notes, 6.125% Due 2021 | ||||||||
Debt Instrument, Face Amount | $ 500,000,000 | |||||||
Unsecured Creditors Litigation [Member] | ||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 310,000,000 | |||||||
Payments for Legal Settlements | $ 310,000,000 | |||||||
Loss Contingency Accrual, Provision | $ (10,000,000) | |||||||
Judicial Ruling [Member] | Unsecured Creditors Litigation [Member] | Other income (expense), net | ||||||||
Loss Contingency Accrual, Provision | $ (300,000,000) |
Acquisitions And Divestitures A
Acquisitions And Divestitures Acquisition of gabocom (Details) - USD ($) $ in Millions | Nov. 19, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 2,407 | $ 2,524 | $ 1,944 | |
gabocom [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Business Combination, Consideration Transferred | $ 311 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 25 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 75 | |||
Other assets purchased and liabilities assumed, net | (11) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 89 | |||
Goodwill | 222 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 311 | |||
Customer Relationships [Member] | gabocom [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 66 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years | |||
Trade Names [Member] | gabocom [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years | |||
Trade Names [Member] | gabocom [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 9 |
Acquisitions And Divestitures_2
Acquisitions And Divestitures Acquisition of Falmat (Details) - USD ($) $ in Millions | May 14, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 2,407 | $ 2,524 | $ 1,944 | |
Falmat [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Business Combination, Consideration Transferred | $ 25 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 12 | |||
Other assets purchased and liabilities assumed, net | 6 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 18 | |||
Goodwill | 7 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | $ 25 | |||
Customer Relationships [Member] | Falmat [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years |
Acquisitions And Divestitures_3
Acquisitions And Divestitures Acquisition of Winchester (Details) - USD ($) $ in Millions | Oct. 24, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 2,407 | $ 2,524 | $ 1,944 | |
Winchester [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Business Combination, Consideration Transferred | $ 680 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 31 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 226 | |||
Other assets purchased and liabilities assumed, net | 21 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 278 | |||
Goodwill | 402 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | $ 680 | |||
Customer Relationships [Member] | Winchester [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 180 | |||
Patented Technology [Member] | Winchester [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 9 | |||
Trade Names [Member] | Winchester [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 37 |
Acquisitions And Divestitures_4
Acquisitions And Divestitures Acquisition of KUM (Details) - USD ($) $ in Millions | Jun. 14, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 2,407 | $ 2,524 | $ 1,944 | |
Kum [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Purchase price, cash consideration, net of cash acquired | $ 515 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | 11 | |||
Business Combination, Consideration Transferred | 526 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 121 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 110 | |||
Other assets purchased and liabilities assumed, net | 34 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 265 | |||
Goodwill | 261 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | $ 526 | |||
Customer Relationships [Member] | Kum [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 years |
Acquisitions And Divestitures_5
Acquisitions And Divestitures Acquisition of nuTonomy, Inc (Details) - USD ($) | Nov. 21, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Payments to Acquire Interest in Joint Venture | $ 10,000,000 | $ 16,000,000 | $ 50,000,000 | |
Goodwill | $ 2,407,000,000 | $ 2,524,000,000 | $ 1,944,000,000 | |
nutonomy | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Business Combination, Maximum Total Consideration | $ 454,000,000 | |||
Deferred Compensation, Payable after three years | 51,000,000 | |||
Business Combination, Consideration Transferred | 308,000,000 | |||
Payments to Acquire Businesses, Gross | 284,000,000 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | 109,000,000 | |||
Deferred Compensation, Payable after one year | 7,000,000 | |||
Deferred compensation, payable after two years | 51,000,000 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 54,000,000 | |||
Contingent Consideration Period | 3 years | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | $ 0 | |||
Business Combination, Contingent Consideration, Liability | 24,000,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 102,000,000 | |||
Other assets purchased and liabilities assumed, net | (35,000,000) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 67,000,000 | |||
Goodwill | 241,000,000 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | $ 308,000,000 |
Acquisitions And Divestitures_6
Acquisitions And Divestitures Acquisition of Movimento (Details) - USD ($) | Jan. 03, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 2,407,000,000 | $ 2,524,000,000 | $ 1,944,000,000 | |
Movimento | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Purchase price, cash consideration, net of cash acquired | $ 40,000,000 | |||
Contingent Consideration Arrangement, Range of Outcomes, Value, High | 10,000,000 | |||
Business Combination, Contingent Consideration, Liability | $ 8,000,000 | |||
Contingent Consideration Period | 2 years | |||
Contingent Consideration Arrangement, Range of Outcomes, Value, Low | $ 0 | |||
Business Combination, Consideration Transferred | 48,000,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 22,000,000 | |||
Other assets purchased and liabilities assumed, net | (2,000,000) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 20,000,000 | |||
Goodwill | 28,000,000 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 48,000,000 | |||
Advanced Safety and User Experience | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 26,000,000 | $ 344,000,000 | $ 350,000,000 | |
In-Process Research and Development | Movimento | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 10,000,000 | |||
Trade Names [Member] | Movimento | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 8,000,000 | |||
Customer-Related Intangible Assets [Member] | Movimento | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 4,000,000 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | |||
Trade Names [Member] | Movimento | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 25 years |
Share-Based Compensation Long T
Share-Based Compensation Long Term Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 25, 2019 | Apr. 24, 2019 | Apr. 26, 2018 | Apr. 25, 2018 | Apr. 27, 2017 | Apr. 26, 2017 | Apr. 28, 2016 | Feb. 28, 2019 | Feb. 28, 2018 | Feb. 28, 2017 | Feb. 29, 2016 | Feb. 28, 2015 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Apr. 23, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU Conversion Ratio | $ 1.17 | |||||||||||||||||||
PLC Long Term Incentive Plan | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
Maximum Shares Available for Grant under PLC LTIP | 25,665,448 | |||||||||||||||||||
PLC Long Term Incentive Plan | Minimum | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
Performance-Based Awards Payout % Range | 0.00% | |||||||||||||||||||
PLC Long Term Incentive Plan | Maximum | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
Performance-Based Awards Payout % Range | 200.00% | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 1,363,000 | 1,242,000 | 1,245,000 | |||||||||||||||||
Grant Date Fair Value | $ 62 | $ 61 | $ 63 | $ 48 | $ 76 | |||||||||||||||
Time-Based Awards % Granted For Officers | 25.00% | |||||||||||||||||||
Time-Based Awards % Granted For Executives | 50.00% | |||||||||||||||||||
Performance-Based Awards % Granted For Officers | 75.00% | |||||||||||||||||||
Performance-Based Awards % Granted For Executives | 50.00% | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Board of Directors | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 20,765 | 22,676 | 26,782 | 27,238 | ||||||||||||||||
Grant Date Fair Value | $ 2 | $ 2 | $ 2 | $ 2 | ||||||||||||||||
RSU's, Issued in Period, Gross | 23,999 | 24,642 | 26,580 | |||||||||||||||||
Fair Value of RSU’s Vested in Period | $ 2 | $ 2 | $ 2 | |||||||||||||||||
RSU's, Used to Pay Witholding Taxes | (3,228) | (2,649) | (3,472) | |||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | 2015 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 900,000 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | 2016 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 710,000 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | 2017 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 800,000 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | 2018 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 630,000 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | 2019 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's Granted | 710,000 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | Time-Based | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's, Issued in Period, Gross | 529,812 | 285,344 | 248,008 | |||||||||||||||||
Fair Value of RSU’s Vested in Period | $ 44 | $ 26 | $ 19 | |||||||||||||||||
RSU's, Used to Pay Witholding Taxes | 203,839 | 102,045 | 88,807 | |||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | Performance-Based | 2014 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's, Issued in Period, Gross | 797,210 | |||||||||||||||||||
Fair Value of RSU’s Vested in Period | $ 60 | |||||||||||||||||||
RSU's, Used to Pay Witholding Taxes | 324,555 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | Performance-Based | 2015 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's, Issued in Period, Gross | 640,239 | |||||||||||||||||||
Fair Value of RSU’s Vested in Period | $ 59 | |||||||||||||||||||
RSU's, Used to Pay Witholding Taxes | 240,483 | |||||||||||||||||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Executives | Performance-Based | 2016 Grant | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
RSU's, Issued in Period, Gross | 493,674 | |||||||||||||||||||
Fair Value of RSU’s Vested in Period | $ 41 | |||||||||||||||||||
RSU's, Used to Pay Witholding Taxes | 199,547 |
Share-Based Compensation Weight
Share-Based Compensation Weighting for Components of Performance Based RSU Awards (Details) - PLC Long Term Incentive Plan | 12 Months Ended | |
Dec. 31, 2019 | ||
2015 Grant | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Average return on net assets (1) | 50.00% | [1] |
Cumulative earnings per share (2) | 30.00% | [2] |
Relative total shareholder return (3) | 20.00% | [3] |
2016 - 2019 Grants [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Average return on net assets (1) | 50.00% | [1] |
Cumulative net income | 25.00% | |
Relative total shareholder return (3) | 25.00% | [3] |
[1] | Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period. | |
[2] | Cumulative earnings per share is measured by net income attributable to Aptiv divided by the weighted average number of diluted shares outstanding for the respective three-year performance period. | |
[3] | Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies. |
Share-Based Compensation Summar
Share-Based Compensation Summary of Activity for LTIP RSU's (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Taxes withheld and paid on employees' restricted share awards | $ (34) | $ (35) | $ (33) | ||
PLC Long Term Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
LTIP Nonvested, Weighted Average Grant Date Fair Value per share | $ 89.32 | [1] | $ 81.24 | $ 68.66 | $ 76.54 |
LTIP Grants in Period, Weighted Average Grant Date Fair Value per share | 83.93 | 87.08 | 82.02 | ||
LTIP Vested in Period, Weighted Average Grant Date Fair Value per share | 70.78 | 65.83 | 73.01 | ||
LTIP Shares, Forfeitures, Weighted Average Grant Date Fair Value per share | $ 83.97 | $ 77.64 | $ 76.18 | ||
Share-based Compensation Expense | $ 66 | $ 58 | $ 62 | ||
Share-based Compensation Expense, Net of Tax | 65 | 57 | 56 | ||
Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 91 | ||||
Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | ||||
Taxes withheld and paid on employees' restricted share awards | $ (34) | $ (35) | $ (33) | ||
PLC Long Term Incentive Plan | Performance-Based | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
LTIP Shares, Vested but not yet Distributed, Weighted Average Grant Date Fair Value per share | $ 70.77 | ||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
LTIP Shares, Nonvested, Number | 1,822 | [1] | 1,879 | 1,807 | 1,740 |
RSU's Granted | 1,363 | 1,242 | 1,245 | ||
LTIP RSU's, Vested in Period | (1,131) | (968) | (980) | ||
LTIP Shares, Forfeited in Period | (289) | (202) | (195) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Cancelled due to Spin-Off | (3) | ||||
PLC Long Term Incentive Plan | Restricted Stock Units (RSUs) | Performance-Based | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
LTIP Shares, Vested but not yet Distributed, Number | 577 | ||||
[1] | Nonvested RSUs and the corresponding weighted average grant date fair value as of December 31, 2017 presented on an Aptiv basis using the conversion factor described above in connection with the Separation. |
Supplemental Guarantor And No_3
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Revenues | $ 3,596 | $ 3,559 | $ 3,627 | $ 3,575 | $ 3,636 | $ 3,485 | $ 3,684 | $ 3,630 | $ 14,357 | $ 14,435 | $ 12,884 | |||
Cost of Goods and Services Sold | 2,909 | 2,882 | 2,958 | 2,962 | 2,967 | 2,834 | 2,958 | 2,947 | 11,711 | 11,706 | 10,270 | |||
Selling, general and administrative | 1,076 | 993 | 952 | |||||||||||
Amortization | 146 | 154 | 117 | |||||||||||
Restructuring | 61 | 65 | 148 | 109 | 129 | |||||||||
Total operating expenses | 13,081 | 12,962 | 11,468 | |||||||||||
Operating income | 324 | 320 | 335 | 297 | 355 | 323 | 421 | 374 | 1,276 | [1] | 1,473 | [2] | 1,416 | [3] |
Interest expense | (164) | (141) | (140) | |||||||||||
Other expense, net | 14 | 2 | (21) | |||||||||||
Income from continuing operations before income taxes and equity income | 1,126 | 1,334 | 1,255 | |||||||||||
Income tax expense | (132) | (250) | (223) | |||||||||||
Income from continuing operations before equity income | 994 | 1,084 | 1,032 | |||||||||||
Equity in net income of affiliates | 15 | 23 | 31 | |||||||||||
Equity in net income (loss) of subsidiaries | 0 | 0 | 0 | |||||||||||
Income from continuing operations | 241 | 252 | 271 | 245 | 257 | 231 | 303 | 316 | 1,009 | 1,107 | 1,063 | |||
Income from discontinued operations, net of tax | 0 | 0 | 365 | |||||||||||
Net income | 1,009 | 1,107 | 1,428 | |||||||||||
Net income attributable to noncontrolling interest | 19 | 40 | 73 | |||||||||||
Net income attributable to Aptiv | $ 230 | $ 246 | $ 274 | $ 240 | $ 247 | $ 222 | $ 291 | $ 307 | 990 | 1,067 | 1,355 | |||
Reportable Legal Entities | Parent | ||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||
Cost of Goods and Services Sold | 0 | 0 | 0 | |||||||||||
Selling, general and administrative | 4 | 27 | 137 | |||||||||||
Amortization | 0 | 0 | 0 | |||||||||||
Restructuring | 0 | 0 | 0 | |||||||||||
Total operating expenses | 4 | 27 | 137 | |||||||||||
Operating income | (4) | (27) | (137) | |||||||||||
Interest expense | (129) | (141) | (255) | |||||||||||
Other expense, net | (6) | 0 | 0 | |||||||||||
Income from continuing operations before income taxes and equity income | (139) | (168) | (392) | |||||||||||
Income tax expense | 6 | 0 | 0 | |||||||||||
Income from continuing operations before equity income | (133) | (168) | (392) | |||||||||||
Equity in net income of affiliates | 0 | 0 | 0 | |||||||||||
Equity in net income (loss) of subsidiaries | 1,123 | 1,235 | 1,747 | |||||||||||
Income from continuing operations | 990 | 1,067 | 1,355 | |||||||||||
Income from discontinued operations, net of tax | 0 | 0 | 0 | |||||||||||
Net income | 990 | 1,067 | 1,355 | |||||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | |||||||||||
Net income attributable to Aptiv | 990 | 1,067 | 1,355 | |||||||||||
Reportable Legal Entities | Subsidiary Guarantors | ||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||
Cost of Goods and Services Sold | 0 | 0 | 0 | |||||||||||
Selling, general and administrative | 0 | 0 | 0 | |||||||||||
Amortization | 0 | 0 | 0 | |||||||||||
Restructuring | 0 | 0 | 0 | |||||||||||
Total operating expenses | 0 | 0 | 0 | |||||||||||
Operating income | 0 | 0 | 0 | |||||||||||
Interest expense | (181) | (147) | (24) | |||||||||||
Other expense, net | 1 | 1 | 144 | |||||||||||
Income from continuing operations before income taxes and equity income | (180) | (146) | 120 | |||||||||||
Income tax expense | 12 | 0 | 0 | |||||||||||
Income from continuing operations before equity income | (168) | (146) | 120 | |||||||||||
Equity in net income of affiliates | 0 | 0 | 0 | |||||||||||
Equity in net income (loss) of subsidiaries | 942 | 1,246 | 1,629 | |||||||||||
Income from continuing operations | 774 | 1,100 | 1,749 | |||||||||||
Income from discontinued operations, net of tax | 0 | 0 | 0 | |||||||||||
Net income | 774 | 1,100 | 1,749 | |||||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | |||||||||||
Net income attributable to Aptiv | 774 | 1,100 | 1,749 | |||||||||||
Reportable Legal Entities | Subsidiary Issuer/Guarantor | ||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||
Cost of Goods and Services Sold | 0 | 0 | 0 | |||||||||||
Selling, general and administrative | 0 | 0 | 0 | |||||||||||
Amortization | 0 | 0 | 0 | |||||||||||
Restructuring | 0 | 0 | 0 | |||||||||||
Total operating expenses | 0 | 0 | 0 | |||||||||||
Operating income | 0 | 0 | 0 | |||||||||||
Interest expense | (134) | (200) | (174) | |||||||||||
Other expense, net | 39 | 80 | 13 | |||||||||||
Income from continuing operations before income taxes and equity income | (95) | (120) | (161) | |||||||||||
Income tax expense | 22 | 27 | 59 | |||||||||||
Income from continuing operations before equity income | (73) | (93) | (102) | |||||||||||
Equity in net income of affiliates | 0 | 0 | 0 | |||||||||||
Equity in net income (loss) of subsidiaries | 138 | 41 | 62 | |||||||||||
Income from continuing operations | 65 | (52) | (40) | |||||||||||
Income from discontinued operations, net of tax | 0 | 0 | 0 | |||||||||||
Net income | 65 | (52) | (40) | |||||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | |||||||||||
Net income attributable to Aptiv | 65 | (52) | (40) | |||||||||||
Reportable Legal Entities | Non-Guarantor Subsidiaries | ||||||||||||||
Revenues | 14,357 | 14,435 | 12,884 | |||||||||||
Cost of Goods and Services Sold | 11,711 | 11,706 | 10,270 | |||||||||||
Selling, general and administrative | 1,072 | 966 | 815 | |||||||||||
Amortization | 146 | 154 | 117 | |||||||||||
Restructuring | 148 | 109 | 129 | |||||||||||
Total operating expenses | 13,077 | 12,935 | 11,331 | |||||||||||
Operating income | 1,280 | 1,500 | 1,553 | |||||||||||
Interest expense | (30) | (25) | (11) | |||||||||||
Other expense, net | 290 | 293 | 146 | |||||||||||
Income from continuing operations before income taxes and equity income | 1,540 | 1,768 | 1,688 | |||||||||||
Income tax expense | (172) | (277) | (282) | |||||||||||
Income from continuing operations before equity income | 1,368 | 1,491 | 1,406 | |||||||||||
Equity in net income of affiliates | 15 | 23 | 31 | |||||||||||
Equity in net income (loss) of subsidiaries | 0 | 0 | 0 | |||||||||||
Income from continuing operations | 1,383 | 1,514 | 1,437 | |||||||||||
Income from discontinued operations, net of tax | 0 | 0 | 365 | |||||||||||
Net income | 1,383 | 1,514 | 1,802 | |||||||||||
Net income attributable to noncontrolling interest | 19 | 40 | 73 | |||||||||||
Net income attributable to Aptiv | 1,364 | 1,474 | 1,729 | |||||||||||
Eliminations | ||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||
Cost of Goods and Services Sold | 0 | 0 | 0 | |||||||||||
Selling, general and administrative | 0 | 0 | 0 | |||||||||||
Amortization | 0 | 0 | 0 | |||||||||||
Restructuring | 0 | 0 | 0 | |||||||||||
Total operating expenses | 0 | 0 | 0 | |||||||||||
Operating income | 0 | 0 | 0 | |||||||||||
Interest expense | 310 | 372 | 324 | |||||||||||
Other expense, net | (310) | (372) | (324) | |||||||||||
Income from continuing operations before income taxes and equity income | 0 | 0 | 0 | |||||||||||
Income tax expense | 0 | 0 | 0 | |||||||||||
Income from continuing operations before equity income | 0 | 0 | 0 | |||||||||||
Equity in net income of affiliates | 0 | 0 | 0 | |||||||||||
Equity in net income (loss) of subsidiaries | (2,203) | (2,522) | (3,438) | |||||||||||
Income from continuing operations | (2,203) | (2,522) | (3,438) | |||||||||||
Income from discontinued operations, net of tax | 0 | 0 | 0 | |||||||||||
Net income | (2,203) | (2,522) | (3,438) | |||||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | |||||||||||
Net income attributable to Aptiv | $ (2,203) | $ (2,522) | $ (3,438) | |||||||||||
[1] | Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. | |||||||||||||
[2] | Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. | |||||||||||||
[3] | Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. |
Supplemental Guarantor And No_4
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 1,009 | $ 1,107 | $ 1,428 |
Currency translation adjustments | (45) | (194) | 315 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 56 | (39) | 15 |
Employee benefit plans adjustment, net of tax | (30) | 2 | 11 |
Other comprehensive income (loss) | (19) | (231) | 341 |
Equity In other comprehensive income (loss) of subsidiaries | 0 | 0 | 0 |
Comprehensive income | 990 | 876 | 1,769 |
Comprehensive income attributable to noncontrolling interests | 16 | 32 | 83 |
Comprehensive income attributable to Aptiv | 974 | 844 | 1,686 |
Reportable Legal Entities | Parent | |||
Net income | 990 | 1,067 | 1,355 |
Currency translation adjustments | 29 | 67 | (177) |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 |
Other comprehensive income (loss) | 29 | 67 | (177) |
Equity In other comprehensive income (loss) of subsidiaries | (45) | (290) | 508 |
Comprehensive income | 974 | 844 | 1,686 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income attributable to Aptiv | 974 | 844 | 1,686 |
Reportable Legal Entities | Subsidiary Guarantors | |||
Net income | 774 | 1,100 | 1,749 |
Currency translation adjustments | 0 | 0 | 0 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 |
Equity In other comprehensive income (loss) of subsidiaries | 20 | (194) | 567 |
Comprehensive income | 794 | 906 | 2,316 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income attributable to Aptiv | 794 | 906 | 2,316 |
Reportable Legal Entities | Subsidiary Issuer/Guarantor | |||
Net income | 65 | (52) | (40) |
Currency translation adjustments | 0 | 0 | 0 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 |
Equity In other comprehensive income (loss) of subsidiaries | 17 | 25 | 31 |
Comprehensive income | 82 | (27) | (9) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income attributable to Aptiv | 82 | (27) | (9) |
Reportable Legal Entities | Non-Guarantor Subsidiaries | |||
Net income | 1,383 | 1,514 | 1,802 |
Currency translation adjustments | (74) | (261) | 492 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 56 | (39) | 15 |
Employee benefit plans adjustment, net of tax | (30) | 2 | 11 |
Other comprehensive income (loss) | (48) | (298) | 518 |
Equity In other comprehensive income (loss) of subsidiaries | 0 | 0 | 0 |
Comprehensive income | 1,335 | 1,216 | 2,320 |
Comprehensive income attributable to noncontrolling interests | 16 | 32 | 83 |
Comprehensive income attributable to Aptiv | 1,319 | 1,184 | 2,237 |
Eliminations | |||
Net income | (2,203) | (2,522) | (3,438) |
Currency translation adjustments | 0 | 0 | 0 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 |
Equity In other comprehensive income (loss) of subsidiaries | 8 | 459 | (1,106) |
Comprehensive income | (2,195) | (2,063) | (4,544) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income attributable to Aptiv | $ (2,195) | $ (2,063) | $ (4,544) |
Supplemental Guarantor And No_5
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 412 | $ 567 | ||
Restricted cash | 16 | 1 | ||
Accounts receivable, net | 2,569 | 2,487 | ||
Intercompany accounts receivable, current | 0 | 0 | ||
Inventories | 1,286 | 1,277 | ||
Other current assets | 504 | 445 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 532 | 0 | ||
Total current assets | 5,319 | 4,777 | ||
Intercompany receivables, long-term | 0 | 0 | ||
Property, net | 3,309 | 3,179 | ||
Operating Lease, Right-of-Use Asset | 413 | 0 | ||
Investments in affiliates | 106 | 99 | ||
Investments in subsidiaries | 0 | 0 | ||
Intangible assets, net | 3,593 | 3,904 | ||
Other long-term assets | 719 | 521 | ||
Total long-term assets | 8,140 | 7,703 | ||
Total assets | 13,459 | 12,480 | ||
Short-term debt | 393 | 306 | ||
Accounts payable | 2,463 | 2,334 | ||
Intercompany payables, current | 0 | 0 | ||
Accrued liabilities | 1,155 | 1,054 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 43 | 0 | ||
Total current liabilities | 4,054 | 3,694 | ||
Long-term debt | 3,971 | 4,038 | ||
Intercompany payables, long-term | 0 | 0 | ||
Pension benefit obligations | 483 | 445 | ||
Operating Lease, Liability, Noncurrent | 329 | 0 | ||
Other long-term liabilities | 611 | 633 | ||
Total long-term liabilities | 5,394 | 5,116 | ||
Total liabilities | 9,448 | 8,810 | ||
Total Aptiv shareholders' equity | 3,819 | 3,459 | ||
Noncontrolling interest | 192 | 211 | ||
Total shareholders' equity | 4,011 | 3,670 | $ 3,517 | $ 2,763 |
Total liabilities and shareholders' equity | 13,459 | 12,480 | ||
Reportable Legal Entities | Parent Company [Member] | ||||
Cash and cash equivalents | 0 | 1 | ||
Restricted cash | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Intercompany accounts receivable, current | 58 | 54 | ||
Inventories | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 0 | |||
Total current assets | 58 | 55 | ||
Intercompany receivables, long-term | 0 | 0 | ||
Property, net | 0 | 0 | ||
Operating Lease, Right-of-Use Asset | 0 | |||
Investments in affiliates | 0 | 0 | ||
Investments in subsidiaries | 8,452 | 7,392 | ||
Intangible assets, net | 0 | 0 | ||
Other long-term assets | 1 | 0 | ||
Total long-term assets | 8,453 | 7,392 | ||
Total assets | 8,511 | 7,447 | ||
Short-term debt | 0 | 0 | ||
Accounts payable | 3 | 2 | ||
Intercompany payables, current | 1,539 | 791 | ||
Accrued liabilities | 38 | 31 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 0 | |||
Total current liabilities | 1,580 | 824 | ||
Long-term debt | 2,920 | 2,953 | ||
Intercompany payables, long-term | 0 | 0 | ||
Pension benefit obligations | 0 | 0 | ||
Operating Lease, Liability, Noncurrent | 0 | |||
Other long-term liabilities | 0 | 0 | ||
Total long-term liabilities | 2,920 | 2,953 | ||
Total liabilities | 4,500 | 3,777 | ||
Total Aptiv shareholders' equity | 4,011 | 3,670 | ||
Noncontrolling interest | 0 | 0 | ||
Total shareholders' equity | 4,011 | 3,670 | ||
Total liabilities and shareholders' equity | 8,511 | 7,447 | ||
Reportable Legal Entities | Subsidiary Guarantors | ||||
Cash and cash equivalents | 0 | 0 | ||
Restricted cash | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Intercompany accounts receivable, current | 17 | 16 | ||
Inventories | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 0 | |||
Total current assets | 17 | 16 | ||
Intercompany receivables, long-term | 0 | 0 | ||
Property, net | 0 | 0 | ||
Operating Lease, Right-of-Use Asset | 0 | |||
Investments in affiliates | 0 | 0 | ||
Investments in subsidiaries | 9,145 | 8,467 | ||
Intangible assets, net | 0 | 0 | ||
Other long-term assets | 0 | 0 | ||
Total long-term assets | 9,145 | 8,467 | ||
Total assets | 9,162 | 8,483 | ||
Short-term debt | 0 | 0 | ||
Accounts payable | 0 | 0 | ||
Intercompany payables, current | 4,259 | 4,479 | ||
Accrued liabilities | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 0 | |||
Total current liabilities | 4,259 | 4,479 | ||
Long-term debt | 0 | 0 | ||
Intercompany payables, long-term | 0 | 0 | ||
Pension benefit obligations | 0 | 0 | ||
Operating Lease, Liability, Noncurrent | 0 | |||
Other long-term liabilities | 0 | 0 | ||
Total long-term liabilities | 0 | 0 | ||
Total liabilities | 4,259 | 4,479 | ||
Total Aptiv shareholders' equity | 4,903 | 4,004 | ||
Noncontrolling interest | 0 | 0 | ||
Total shareholders' equity | 4,903 | 4,004 | ||
Total liabilities and shareholders' equity | 9,162 | 8,483 | ||
Reportable Legal Entities | Subsidiary Issuer/Guarantor | ||||
Cash and cash equivalents | 0 | 0 | ||
Restricted cash | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Intercompany accounts receivable, current | 464 | 3,114 | ||
Inventories | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 0 | |||
Total current assets | 464 | 3,114 | ||
Intercompany receivables, long-term | 768 | 768 | ||
Property, net | 0 | 0 | ||
Operating Lease, Right-of-Use Asset | 0 | |||
Investments in affiliates | 0 | 0 | ||
Investments in subsidiaries | 1,758 | 1,899 | ||
Intangible assets, net | 0 | 0 | ||
Other long-term assets | 3 | 6 | ||
Total long-term assets | 2,529 | 2,673 | ||
Total assets | 2,993 | 5,787 | ||
Short-term debt | 120 | 25 | ||
Accounts payable | 0 | 0 | ||
Intercompany payables, current | 628 | 2,115 | ||
Accrued liabilities | 9 | 11 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 0 | |||
Total current liabilities | 757 | 2,151 | ||
Long-term debt | 1,026 | 1,055 | ||
Intercompany payables, long-term | 226 | 1,296 | ||
Pension benefit obligations | 0 | 0 | ||
Operating Lease, Liability, Noncurrent | 0 | |||
Other long-term liabilities | 0 | 0 | ||
Total long-term liabilities | 1,252 | 2,351 | ||
Total liabilities | 2,009 | 4,502 | ||
Total Aptiv shareholders' equity | 984 | 1,285 | ||
Noncontrolling interest | 0 | 0 | ||
Total shareholders' equity | 984 | 1,285 | ||
Total liabilities and shareholders' equity | 2,993 | 5,787 | ||
Reportable Legal Entities | Non-Guarantor Subsidiaries | ||||
Cash and cash equivalents | 412 | 566 | ||
Restricted cash | 16 | 1 | ||
Accounts receivable, net | 2,569 | 2,487 | ||
Intercompany accounts receivable, current | 5,981 | 4,201 | ||
Inventories | 1,286 | 1,277 | ||
Other current assets | 504 | 445 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 532 | |||
Total current assets | 11,300 | 8,977 | ||
Intercompany receivables, long-term | 415 | 1,424 | ||
Property, net | 3,309 | 3,179 | ||
Operating Lease, Right-of-Use Asset | 413 | |||
Investments in affiliates | 106 | 99 | ||
Investments in subsidiaries | 0 | 0 | ||
Intangible assets, net | 3,593 | 3,904 | ||
Other long-term assets | 715 | 515 | ||
Total long-term assets | 8,551 | 9,121 | ||
Total assets | 19,851 | 18,098 | ||
Short-term debt | 273 | 281 | ||
Accounts payable | 2,460 | 2,332 | ||
Intercompany payables, current | 94 | 0 | ||
Accrued liabilities | 1,108 | 1,012 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 43 | |||
Total current liabilities | 3,978 | 3,625 | ||
Long-term debt | 25 | 30 | ||
Intercompany payables, long-term | 957 | 896 | ||
Pension benefit obligations | 483 | 445 | ||
Operating Lease, Liability, Noncurrent | 329 | |||
Other long-term liabilities | 611 | 633 | ||
Total long-term liabilities | 2,405 | 2,004 | ||
Total liabilities | 6,383 | 5,629 | ||
Total Aptiv shareholders' equity | 13,276 | 12,258 | ||
Noncontrolling interest | 192 | 211 | ||
Total shareholders' equity | 13,468 | 12,469 | ||
Total liabilities and shareholders' equity | 19,851 | 18,098 | ||
Eliminations | ||||
Cash and cash equivalents | 0 | 0 | ||
Restricted cash | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Intercompany accounts receivable, current | (6,520) | (7,385) | ||
Inventories | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Assets, Current | 0 | |||
Total current assets | (6,520) | (7,385) | ||
Intercompany receivables, long-term | (1,183) | (2,192) | ||
Property, net | 0 | 0 | ||
Operating Lease, Right-of-Use Asset | 0 | |||
Investments in affiliates | 0 | 0 | ||
Investments in subsidiaries | (19,355) | (17,758) | ||
Intangible assets, net | 0 | 0 | ||
Other long-term assets | 0 | 0 | ||
Total long-term assets | (20,538) | (19,950) | ||
Total assets | (27,058) | (27,335) | ||
Short-term debt | 0 | 0 | ||
Accounts payable | 0 | 0 | ||
Intercompany payables, current | (6,520) | (7,385) | ||
Accrued liabilities | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 0 | |||
Total current liabilities | (6,520) | (7,385) | ||
Long-term debt | 0 | 0 | ||
Intercompany payables, long-term | (1,183) | (2,192) | ||
Pension benefit obligations | 0 | 0 | ||
Operating Lease, Liability, Noncurrent | 0 | |||
Other long-term liabilities | 0 | 0 | ||
Total long-term liabilities | (1,183) | (2,192) | ||
Total liabilities | (7,703) | (9,577) | ||
Total Aptiv shareholders' equity | (19,355) | (17,758) | ||
Noncontrolling interest | 0 | 0 | ||
Total shareholders' equity | (19,355) | (17,758) | ||
Total liabilities and shareholders' equity | $ (27,058) | $ (27,335) |
Supplemental Guarantor And No_6
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net cash provided by (used in) operating activities from continuing operations | $ 1,624 | $ 1,640 | $ 1,106 | |
Net cash provided by (used in) operating activities from discontinued operations | 0 | (12) | 362 | |
Net cash provided by operating activities | 1,624 | 1,628 | 1,468 | |
Capital expenditures | (781) | (846) | (698) | |
Proceeds from sale of property / investments | (14) | (13) | (7) | |
Cost of business acquisitions, net of cash acquired | (334) | (1,197) | (324) | |
Cost of technology investments | (10) | (16) | (50) | |
Return of Investment in Subsidiaries | 0 | |||
Settlement of derivatives | 0 | (2) | (28) | |
Loans to affiliates | 0 | 0 | 0 | |
Repayments of loans from affiliates | 0 | 0 | 0 | |
Investments in subsidiaries | 0 | |||
Net cash used in investing activities from continuing operations | (1,111) | (2,048) | (1,093) | |
Net cash used in investing activities from discontinued operations | 0 | 0 | (159) | |
Net cash used in investing activities | (1,111) | (2,048) | (1,252) | |
Net (repayments) proceeds under other short-term debt agreements | (80) | (268) | 15 | |
Repayments of Long-term Debt | (25) | (13) | (2) | |
Repayment of senior notes | (654) | 0 | 0 | |
Proceeds from issuance of senior notes, net of issuance costs | 641 | 0 | 796 | |
Contingent consideration and deferred acquisition purchase price payments | 0 | (13) | (24) | |
Dividend payments of consolidated affiliates to minority shareholders | (11) | (30) | (38) | |
Proceeds from borrowings from affiliates | 0 | 0 | 0 | |
Payments on borrowings from affiliates | 0 | 0 | 0 | |
Investment from parent | 0 | |||
Payments of Distributions to Affiliates | 0 | |||
Repurchase of ordinary shares | (420) | (499) | (383) | |
Distribution of cash dividends | (226) | (233) | (310) | |
Cash transferred to Delphi Technologies | 0 | 0 | (863) | |
Taxes withheld and paid on employees' restricted share awards | (34) | (35) | (33) | |
Net cash used in financing activities | (649) | (555) | 456 | |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | (3) | (54) | 86 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (139) | (1,029) | 758 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | 429 | 568 | 1,597 | $ 839 |
Dividend from Delphi Technologies Spin-Off | 0 | 0 | 1,148 | |
Cash transferred from Delphi Technologies related to spin-off | 0 | 0 | 180 | |
Reportable Legal Entities | Parent | ||||
Net cash provided by (used in) operating activities from continuing operations | (50) | (170) | (93) | |
Net cash provided by (used in) operating activities from discontinued operations | 0 | 0 | 0 | |
Net cash provided by operating activities | (50) | (170) | (93) | |
Capital expenditures | 0 | 0 | 0 | |
Proceeds from sale of property / investments | 0 | 0 | 0 | |
Cost of business acquisitions, net of cash acquired | 0 | 0 | 0 | |
Cost of technology investments | 0 | 0 | 0 | |
Return of Investment in Subsidiaries | 5,879 | |||
Settlement of derivatives | 0 | 0 | ||
Loans to affiliates | 0 | 0 | 0 | |
Repayments of loans from affiliates | 0 | 0 | 0 | |
Investments in subsidiaries | (100) | |||
Net cash used in investing activities from continuing operations | 0 | 5,779 | 0 | |
Net cash used in investing activities from discontinued operations | 0 | 0 | 0 | |
Net cash used in investing activities | 0 | 5,779 | 0 | |
Net (repayments) proceeds under other short-term debt agreements | 0 | 0 | 0 | |
Repayments of Long-term Debt | 0 | 0 | 0 | |
Repayment of senior notes | (654) | |||
Proceeds from issuance of senior notes, net of issuance costs | 641 | 0 | ||
Contingent consideration and deferred acquisition purchase price payments | 0 | 0 | ||
Dividend payments of consolidated affiliates to minority shareholders | 0 | 0 | 0 | |
Proceeds from borrowings from affiliates | 708 | 1,002 | 802 | |
Payments on borrowings from affiliates | 0 | (5,879) | (1,345) | |
Investment from parent | 0 | |||
Payments of Distributions to Affiliates | 0 | |||
Repurchase of ordinary shares | (420) | (499) | (383) | |
Distribution of cash dividends | (226) | (233) | (310) | |
Cash transferred to Delphi Technologies | 0 | |||
Taxes withheld and paid on employees' restricted share awards | 0 | 0 | 0 | |
Net cash used in financing activities | 49 | (5,609) | 92 | |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (1) | 0 | (1) | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | 0 | 1 | 1 | 2 |
Dividend from Delphi Technologies Spin-Off | 1,148 | |||
Cash transferred from Delphi Technologies related to spin-off | 180 | |||
Reportable Legal Entities | Subsidiary Guarantors | ||||
Net cash provided by (used in) operating activities from continuing operations | 0 | 0 | (184) | |
Net cash provided by (used in) operating activities from discontinued operations | 0 | 0 | 0 | |
Net cash provided by operating activities | 0 | 0 | (184) | |
Capital expenditures | 0 | 0 | 0 | |
Proceeds from sale of property / investments | 0 | 0 | 0 | |
Cost of business acquisitions, net of cash acquired | 0 | 0 | 0 | |
Cost of technology investments | 0 | 0 | 0 | |
Return of Investment in Subsidiaries | 4,971 | |||
Settlement of derivatives | 0 | 0 | ||
Loans to affiliates | 0 | 0 | (126) | |
Repayments of loans from affiliates | 0 | 0 | 0 | |
Investments in subsidiaries | 0 | |||
Net cash used in investing activities from continuing operations | 0 | 4,971 | (126) | |
Net cash used in investing activities from discontinued operations | 0 | 0 | 0 | |
Net cash used in investing activities | 0 | 4,971 | (126) | |
Net (repayments) proceeds under other short-term debt agreements | 0 | 0 | 0 | |
Repayments of Long-term Debt | 0 | 0 | 0 | |
Repayment of senior notes | 0 | |||
Proceeds from issuance of senior notes, net of issuance costs | 0 | 0 | ||
Contingent consideration and deferred acquisition purchase price payments | 0 | 0 | ||
Dividend payments of consolidated affiliates to minority shareholders | 0 | 0 | 0 | |
Proceeds from borrowings from affiliates | 0 | 2,627 | 310 | |
Payments on borrowings from affiliates | 0 | (1,719) | 0 | |
Investment from parent | 0 | |||
Payments of Distributions to Affiliates | (5,879) | |||
Repurchase of ordinary shares | 0 | 0 | 0 | |
Distribution of cash dividends | 0 | 0 | 0 | |
Cash transferred to Delphi Technologies | 0 | |||
Taxes withheld and paid on employees' restricted share awards | 0 | 0 | 0 | |
Net cash used in financing activities | 0 | (4,971) | 310 | |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | 0 | 0 | 0 | 0 |
Dividend from Delphi Technologies Spin-Off | 0 | |||
Cash transferred from Delphi Technologies related to spin-off | 0 | |||
Reportable Legal Entities | Subsidiary Issuer/Guarantor | ||||
Net cash provided by (used in) operating activities from continuing operations | 0 | 0 | 0 | |
Net cash provided by (used in) operating activities from discontinued operations | 0 | 0 | 0 | |
Net cash provided by operating activities | 0 | 0 | 0 | |
Capital expenditures | 0 | 0 | 0 | |
Proceeds from sale of property / investments | 0 | 0 | 0 | |
Cost of business acquisitions, net of cash acquired | 0 | 0 | 0 | |
Cost of technology investments | 0 | 0 | 0 | |
Return of Investment in Subsidiaries | 0 | |||
Settlement of derivatives | 0 | 0 | ||
Loans to affiliates | 0 | 0 | 0 | |
Repayments of loans from affiliates | 0 | 0 | 0 | |
Investments in subsidiaries | 0 | |||
Net cash used in investing activities from continuing operations | 0 | 0 | 0 | |
Net cash used in investing activities from discontinued operations | 0 | 0 | 0 | |
Net cash used in investing activities | 0 | 0 | 0 | |
Net (repayments) proceeds under other short-term debt agreements | (90) | 0 | 0 | |
Repayments of Long-term Debt | (25) | (13) | (2) | |
Repayment of senior notes | 0 | |||
Proceeds from issuance of senior notes, net of issuance costs | 0 | 0 | ||
Contingent consideration and deferred acquisition purchase price payments | 0 | 0 | ||
Dividend payments of consolidated affiliates to minority shareholders | 0 | 0 | 0 | |
Proceeds from borrowings from affiliates | 110 | 13 | 2 | |
Payments on borrowings from affiliates | (175) | 0 | 0 | |
Investment from parent | 0 | |||
Payments of Distributions to Affiliates | 0 | |||
Repurchase of ordinary shares | 0 | 0 | 0 | |
Distribution of cash dividends | 0 | 0 | 0 | |
Cash transferred to Delphi Technologies | 0 | |||
Taxes withheld and paid on employees' restricted share awards | 0 | 0 | 0 | |
Net cash used in financing activities | 0 | 0 | 0 | |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | 0 | 0 | 0 | 0 |
Dividend from Delphi Technologies Spin-Off | 0 | |||
Cash transferred from Delphi Technologies related to spin-off | 0 | |||
Reportable Legal Entities | Non-Guarantor Subsidiaries | ||||
Net cash provided by (used in) operating activities from continuing operations | 1,674 | 1,810 | 1,383 | |
Net cash provided by (used in) operating activities from discontinued operations | 0 | (12) | 362 | |
Net cash provided by operating activities | 1,674 | 1,798 | 1,745 | |
Capital expenditures | (781) | (846) | (698) | |
Proceeds from sale of property / investments | (14) | (13) | (7) | |
Cost of business acquisitions, net of cash acquired | (334) | (1,197) | (324) | |
Cost of technology investments | (10) | (16) | (50) | |
Return of Investment in Subsidiaries | 0 | |||
Settlement of derivatives | (2) | (28) | ||
Loans to affiliates | (818) | (3,642) | (988) | |
Repayments of loans from affiliates | 175 | 7,598 | 1,345 | |
Investments in subsidiaries | 0 | |||
Net cash used in investing activities from continuing operations | (1,754) | 1,908 | (736) | |
Net cash used in investing activities from discontinued operations | 0 | 0 | (159) | |
Net cash used in investing activities | (1,754) | 1,908 | (895) | |
Net (repayments) proceeds under other short-term debt agreements | 10 | (268) | 15 | |
Repayments of Long-term Debt | 0 | 0 | 0 | |
Repayment of senior notes | 0 | |||
Proceeds from issuance of senior notes, net of issuance costs | 0 | 796 | ||
Contingent consideration and deferred acquisition purchase price payments | (13) | (24) | ||
Dividend payments of consolidated affiliates to minority shareholders | (11) | (30) | (38) | |
Proceeds from borrowings from affiliates | 0 | 0 | 0 | |
Payments on borrowings from affiliates | 0 | 0 | 0 | |
Investment from parent | 100 | |||
Payments of Distributions to Affiliates | (4,971) | |||
Repurchase of ordinary shares | 0 | 0 | 0 | |
Distribution of cash dividends | 0 | 0 | 0 | |
Cash transferred to Delphi Technologies | (863) | |||
Taxes withheld and paid on employees' restricted share awards | (34) | (35) | (33) | |
Net cash used in financing activities | (55) | (4,681) | (177) | |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | (3) | (54) | 86 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (138) | (1,029) | 759 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | 429 | 567 | 1,596 | 837 |
Dividend from Delphi Technologies Spin-Off | 0 | |||
Cash transferred from Delphi Technologies related to spin-off | 0 | |||
Eliminations | ||||
Net cash provided by (used in) operating activities from continuing operations | 0 | 0 | 0 | |
Net cash provided by (used in) operating activities from discontinued operations | 0 | 0 | 0 | |
Net cash provided by operating activities | 0 | 0 | 0 | |
Capital expenditures | 0 | 0 | 0 | |
Proceeds from sale of property / investments | 0 | 0 | 0 | |
Cost of business acquisitions, net of cash acquired | 0 | 0 | 0 | |
Cost of technology investments | 0 | 0 | 0 | |
Return of Investment in Subsidiaries | (10,850) | |||
Settlement of derivatives | 0 | 0 | ||
Loans to affiliates | 818 | 3,642 | 1,114 | |
Repayments of loans from affiliates | (175) | (7,598) | (1,345) | |
Investments in subsidiaries | 100 | |||
Net cash used in investing activities from continuing operations | 643 | (14,706) | (231) | |
Net cash used in investing activities from discontinued operations | 0 | 0 | 0 | |
Net cash used in investing activities | 643 | (14,706) | (231) | |
Net (repayments) proceeds under other short-term debt agreements | 0 | 0 | 0 | |
Repayments of Long-term Debt | 0 | 0 | 0 | |
Repayment of senior notes | 0 | |||
Proceeds from issuance of senior notes, net of issuance costs | 0 | 0 | ||
Contingent consideration and deferred acquisition purchase price payments | 0 | 0 | ||
Dividend payments of consolidated affiliates to minority shareholders | 0 | 0 | 0 | |
Proceeds from borrowings from affiliates | (818) | (3,642) | (1,114) | |
Payments on borrowings from affiliates | 175 | 7,598 | 1,345 | |
Investment from parent | (100) | |||
Payments of Distributions to Affiliates | 10,850 | |||
Repurchase of ordinary shares | 0 | 0 | 0 | |
Distribution of cash dividends | 0 | 0 | 0 | |
Cash transferred to Delphi Technologies | 0 | |||
Taxes withheld and paid on employees' restricted share awards | 0 | 0 | 0 | |
Net cash used in financing activities | (643) | 14,706 | 231 | |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 0 | 0 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $ 0 | $ 0 | 0 | $ 0 |
Dividend from Delphi Technologies Spin-Off | 0 | |||
Cash transferred from Delphi Technologies related to spin-off | $ 0 |
Segment Reporting Reconciliatio
Segment Reporting Reconciliation of Sales and Operating Data (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues | $ 3,596 | $ 3,559 | $ 3,627 | $ 3,575 | $ 3,636 | $ 3,485 | $ 3,684 | $ 3,630 | $ 14,357 | $ 14,435 | $ 12,884 | ||||
Depreciation and amortization | 717 | 676 | 546 | ||||||||||||
Adjusted operating income | 1,548 | 1,751 | 1,594 | ||||||||||||
Operating income | $ 324 | 320 | $ 335 | $ 297 | $ 355 | 323 | $ 421 | $ 374 | 1,276 | [1] | 1,473 | [2] | 1,416 | [3] | |
Equity income, net of tax | 15 | 23 | 31 | ||||||||||||
Net income attributable to noncontrolling interest | 19 | 40 | 42 | ||||||||||||
Capital expenditures | 781 | 846 | |||||||||||||
Restructuring | $ 61 | $ 65 | 148 | 109 | 129 | ||||||||||
Signal and Power Solutions | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Restructuring | 104 | 90 | 67 | ||||||||||||
Advanced Safety and User Experience | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Restructuring | 44 | 19 | 62 | ||||||||||||
Operating Segments | Signal and Power Solutions | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues | 10,302 | 10,402 | 9,507 | ||||||||||||
Depreciation and amortization | 538 | 490 | 438 | ||||||||||||
Adjusted operating income | 1,274 | 1,424 | 1,302 | ||||||||||||
Operating income | 1,124 | [1] | 1,279 | [2] | 1,206 | [3] | |||||||||
Equity income, net of tax | 15 | 23 | 31 | ||||||||||||
Net income attributable to noncontrolling interest | 19 | 40 | 42 | ||||||||||||
Capital expenditures | 495 | 534 | |||||||||||||
Restructuring | 104 | 90 | 67 | ||||||||||||
Operating Segments | Advanced Safety and User Experience | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues | 4,092 | 4,078 | 3,446 | ||||||||||||
Depreciation and amortization | 179 | 186 | 108 | ||||||||||||
Adjusted operating income | 274 | 327 | 292 | ||||||||||||
Operating income | 152 | [1] | 194 | [2] | 210 | [3] | |||||||||
Equity income, net of tax | 0 | 0 | 0 | ||||||||||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | ||||||||||||
Capital expenditures | 250 | 245 | |||||||||||||
Restructuring | 44 | 19 | 62 | ||||||||||||
Intersegment Eliminations | |||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||
Revenues | [4] | (37) | (45) | (69) | |||||||||||
Depreciation and amortization | [4] | 0 | 0 | 0 | |||||||||||
Adjusted operating income | [4] | 0 | 0 | 0 | |||||||||||
Operating income | [4] | 0 | [1] | 0 | [2] | 0 | [3] | ||||||||
Equity income, net of tax | [4] | 0 | 0 | 0 | |||||||||||
Net income attributable to noncontrolling interest | [4] | 0 | 0 | 0 | |||||||||||
Capital expenditures | [4] | 36 | 67 | ||||||||||||
Restructuring | $ 0 | $ 0 | $ 0 | ||||||||||||
[1] | Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. | ||||||||||||||
[2] | Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. | ||||||||||||||
[3] | Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. | ||||||||||||||
[4] | Eliminations and Other includes the elimination of inter-segment transactions. Capital expenditures amounts are attributable to corporate administrative and support functions, including corporate headquarters and certain technical centers. |
Segment Reporting Balance Sheet
Segment Reporting Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||||
Investments in affiliates | $ 106 | $ 99 | ||
Goodwill | 2,407 | 2,524 | $ 1,944 | |
Total segment assets | 13,459 | 12,480 | ||
Signal and Power Solutions | ||||
Segment Reporting Information [Line Items] | ||||
Goodwill | 2,381 | 2,180 | 1,594 | |
Advanced Safety and User Experience | ||||
Segment Reporting Information [Line Items] | ||||
Goodwill | 26 | 344 | $ 350 | |
Operating Segments | Signal and Power Solutions | ||||
Segment Reporting Information [Line Items] | ||||
Investments in affiliates | 106 | 99 | ||
Goodwill | 2,381 | 2,180 | ||
Total segment assets | 12,726 | 11,620 | ||
Operating Segments | Advanced Safety and User Experience | ||||
Segment Reporting Information [Line Items] | ||||
Investments in affiliates | 0 | 0 | ||
Goodwill | 26 | 344 | ||
Total segment assets | 4,988 | 5,024 | ||
Intersegment Eliminations | ||||
Segment Reporting Information [Line Items] | ||||
Investments in affiliates | [1] | 0 | 0 | |
Goodwill | 0 | 0 | ||
Total segment assets | [1] | $ (4,255) | $ (4,164) | |
[1] | Eliminations and Other includes the elimination of inter-segment transactions. |
Segment Reporting Reconciliat_2
Segment Reporting Reconciliation of Adjusted OI to Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||||||
Adjusted operating income | $ 1,548 | $ 1,751 | $ 1,594 | ||||||||||||
Restructuring | $ (61) | $ (65) | (148) | (109) | (129) | ||||||||||
Other acquisition and portfolio project costs | (71) | (78) | (28) | ||||||||||||
Asset impairments | (11) | (34) | (9) | ||||||||||||
Deferred compensation related to nutonomy acquisition | (42) | (57) | (12) | ||||||||||||
Operating income | $ 324 | 320 | $ 335 | $ 297 | $ 355 | 323 | $ 421 | $ 374 | 1,276 | [1] | 1,473 | [2] | 1,416 | [3] | |
Interest expense | (164) | (141) | (140) | ||||||||||||
Other expense, net | 14 | 2 | (21) | ||||||||||||
Income from continuing operations before income taxes and equity income | 1,126 | 1,334 | 1,255 | ||||||||||||
Income tax expense | (132) | (250) | (223) | ||||||||||||
Equity income, net of tax | 15 | 23 | 31 | ||||||||||||
Income from continuing operations | 241 | 252 | 271 | 245 | 257 | 231 | 303 | 316 | 1,009 | 1,107 | 1,063 | ||||
Income from discontinued operations, net of tax | 0 | 0 | 365 | ||||||||||||
Net income | 1,009 | 1,107 | 1,428 | ||||||||||||
Net income attributable to noncontrolling interest | 19 | 40 | 73 | ||||||||||||
Net income attributable to Aptiv | $ 230 | $ 246 | $ 274 | $ 240 | $ 247 | $ 222 | $ 291 | $ 307 | 990 | 1,067 | 1,355 | ||||
Intersegment Eliminations | |||||||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||||||
Adjusted operating income | [4] | 0 | 0 | 0 | |||||||||||
Restructuring | 0 | 0 | 0 | ||||||||||||
Other acquisition and portfolio project costs | 0 | 0 | 0 | ||||||||||||
Asset impairments | 0 | 0 | 0 | ||||||||||||
Deferred compensation related to nutonomy acquisition | 0 | 0 | 0 | ||||||||||||
Operating income | [4] | 0 | [1] | 0 | [2] | 0 | [3] | ||||||||
Equity income, net of tax | [4] | 0 | 0 | 0 | |||||||||||
Signal and Power Solutions | |||||||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||||||
Restructuring | (104) | (90) | (67) | ||||||||||||
Signal and Power Solutions | Operating Segments | |||||||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||||||
Adjusted operating income | 1,274 | 1,424 | 1,302 | ||||||||||||
Restructuring | (104) | (90) | (67) | ||||||||||||
Other acquisition and portfolio project costs | (44) | (54) | (21) | ||||||||||||
Asset impairments | (2) | (1) | (8) | ||||||||||||
Deferred compensation related to nutonomy acquisition | 0 | 0 | 0 | ||||||||||||
Operating income | 1,124 | [1] | 1,279 | [2] | 1,206 | [3] | |||||||||
Equity income, net of tax | 15 | 23 | 31 | ||||||||||||
Advanced Safety and User Experience | |||||||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||||||
Restructuring | (44) | (19) | (62) | ||||||||||||
Advanced Safety and User Experience | Operating Segments | |||||||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||||||
Adjusted operating income | 274 | 327 | 292 | ||||||||||||
Restructuring | (44) | (19) | (62) | ||||||||||||
Other acquisition and portfolio project costs | (27) | (24) | (7) | ||||||||||||
Asset impairments | (9) | (33) | (1) | ||||||||||||
Deferred compensation related to nutonomy acquisition | (42) | (57) | (12) | ||||||||||||
Operating income | 152 | [1] | 194 | [2] | 210 | [3] | |||||||||
Equity income, net of tax | $ 0 | $ 0 | $ 0 | ||||||||||||
[1] | Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. | ||||||||||||||
[2] | Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. | ||||||||||||||
[3] | Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. | ||||||||||||||
[4] | Eliminations and Other includes the elimination of inter-segment transactions. Capital expenditures amounts are attributable to corporate administrative and support functions, including corporate headquarters and certain technical centers. |
Segment Reporting Geographical
Segment Reporting Geographical Data (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Lease, Right-of-Use Asset | $ 413 | $ 0 | $ 413 | $ 0 | ||||||||
Property, net | [1] | 3,722 | 3,179 | 3,722 | 3,179 | $ 2,804 | ||||||
Revenues | 3,596 | $ 3,559 | $ 3,627 | $ 3,575 | 3,636 | $ 3,485 | $ 3,684 | $ 3,630 | 14,357 | 14,435 | 12,884 | |
United States | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Property, net | [1],[2] | 1,029 | 942 | 1,029 | 942 | 839 | ||||||
Revenues | [2] | 5,308 | 5,390 | 4,652 | ||||||||
Other North America | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Property, net | [1] | 264 | 206 | 264 | 206 | 185 | ||||||
Revenues | 136 | 170 | 171 | |||||||||
Europe, Middle East & Africa [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Property, net | [1],[3] | 1,398 | 1,112 | 1,398 | 1,112 | 1,029 | ||||||
Revenues | [3] | 4,791 | 4,689 | 4,235 | ||||||||
Asia Pacific [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Property, net | [1],[4] | 970 | 869 | 970 | 869 | 698 | ||||||
Revenues | [4] | 3,876 | 3,916 | 3,544 | ||||||||
South America [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Property, net | [1] | 61 | 50 | 61 | 50 | 53 | ||||||
Revenues | 246 | 270 | 282 | |||||||||
IRELAND | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Property, net | $ 79 | $ 22 | 79 | 22 | 1 | |||||||
Revenues | 0 | 0 | 0 | |||||||||
Germany | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Revenues | 1,340 | 1,398 | 1,191 | |||||||||
JERSEY | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Revenues | $ 0 | $ 0 | $ 0 | |||||||||
[1] | Includes property, plant and equipment, net of accumulated depreciation and operating lease right-of-use assets of $413 million as of December 31, 2019 . | |||||||||||
[2] | Includes net sales and machinery, equipment and tooling that relate to the Company’s maquiladora operations located in Mexico. These assets are utilized to produce products sold to customers located in the U.S. | |||||||||||
[3] | Includes Aptiv’s country of domicile, Jersey, and the country of Aptiv’s principal executive offices, Ireland. The Company had no sales in Jersey or Ireland in any period. The Company had long-lived assets in Ireland of $79 million , $22 million and less than $1 million as of December 31, 2019 , 2018 and 2017 , respectively. The largest portion of net sales in the Europe, Middle East & Africa region was $1,340 million , $1,398 million and $1,191 million in Germany for the years ended December 31, 2019 , 2018 and 2017 , respectively. | |||||||||||
[4] | Net sales and long-lived assets in Asia Pacific are primarily attributable to China. |
Quarterly Data (Unaudited) (Det
Quarterly Data (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Revenues | $ 3,596 | $ 3,559 | $ 3,627 | $ 3,575 | $ 3,636 | $ 3,485 | $ 3,684 | $ 3,630 | $ 14,357 | $ 14,435 | $ 12,884 | ||||
Cost of Goods and Services Sold | 2,909 | 2,882 | 2,958 | 2,962 | 2,967 | 2,834 | 2,958 | 2,947 | 11,711 | 11,706 | 10,270 | ||||
Gross profit | 687 | 677 | 669 | 613 | 669 | 651 | 726 | 683 | 2,646 | 2,729 | |||||
Operating income | 324 | 320 | 335 | 297 | 355 | 323 | 421 | 374 | 1,276 | [1] | 1,473 | [2] | 1,416 | [3] | |
Income from continuing operations | 241 | 252 | 271 | 245 | 257 | 231 | 303 | 316 | 1,009 | 1,107 | 1,063 | ||||
Income from discontinued operations, net of tax | 0 | 0 | 365 | ||||||||||||
Net income | 1,009 | 1,107 | 1,428 | ||||||||||||
Net income attributable to Aptiv | $ 230 | $ 246 | $ 274 | $ 240 | $ 247 | $ 222 | $ 291 | $ 307 | $ 990 | $ 1,067 | $ 1,355 | ||||
Income from continuing operations, per basic share | $ 3.85 | $ 4.04 | $ 3.82 | ||||||||||||
Income from discontinued operations, per basic share | 0 | 0 | 1.25 | ||||||||||||
Basic net income per share attributable to Aptiv | $ 0.90 | $ 0.96 | $ 1.07 | $ 0.93 | $ 0.94 | $ 0.84 | $ 1.10 | $ 1.16 | $ 3.85 | $ 4.04 | $ 5.07 | ||||
Weighted average number of basic shares outstanding | 255,310 | 255,890 | 257,020 | 259,080 | 262,610 | 264,560 | 264,810 | 265,690 | 256,810 | 264,410 | 267,160 | ||||
Income from continuing operations, per diluted share | $ 3.85 | $ 4.02 | $ 3.81 | ||||||||||||
Income from discontinued operations, per diluted share | 0 | 0 | 1.25 | ||||||||||||
Diluted net income per share attributable to Aptiv | $ 0.90 | $ 0.96 | $ 1.07 | $ 0.92 | $ 0.94 | $ 0.84 | $ 1.10 | $ 1.15 | $ 3.85 | $ 4.02 | $ 5.06 | ||||
Weighted average number of diluted shares outstanding | 256,360 | 256,440 | 257,260 | 259,550 | 263,650 | 265,330 | 265,480 | 266,440 | 257,390 | 265,220 | 268,030 | ||||
Restructuring | $ 61 | $ 65 | $ 148 | $ 109 | $ 129 | ||||||||||
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 19 | 0 | 0 | ||||||||||||
Impairment of Intangible Assets (Excluding Goodwill) | 8 | 30 | 0 | ||||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 1 | 26 | (6) | ||||||||||||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | $ 24 | (16) | 8 | (1) | |||||||||||
EMEA | |||||||||||||||
Restructuring | 74 | 64 | 89 | ||||||||||||
United States | |||||||||||||||
Revenues | [4] | $ 5,308 | 5,390 | 4,652 | |||||||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 25 | $ 30 | $ 50 | ||||||||||||
[1] | Includes charges recorded in 2019 related to costs associated with employee termination benefits and other exit costs of $104 million for Signal and Power Solutions and $44 million for Advanced Safety and User Experience. | ||||||||||||||
[2] | Includes charges recorded in 2018 related to costs associated with employee termination benefits and other exit costs of $90 million for Signal and Power Solutions and $19 million for Advanced Safety and User Experience. | ||||||||||||||
[3] | Includes charges recorded in 2017 related to costs associated with employee termination benefits and other exit costs of $67 million for Signal and Power Solutions and $62 million for Advanced Safety and User Experience. | ||||||||||||||
[4] | Includes net sales and machinery, equipment and tooling that relate to the Company’s maquiladora operations located in Mexico. These assets are utilized to produce products sold to customers located in the U.S. |
Discontinued Operations and H_3
Discontinued Operations and Held for Sale Narrative (Details) - USD ($) $ in Millions | Dec. 04, 2017 | Nov. 22, 2017 | Sep. 28, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Distribution Date | Dec. 4, 2017 | |||||
Record Date | Nov. 22, 2017 | |||||
Dividend from Delphi Technologies Spin-Off | $ 0 | $ 0 | $ 1,148 | |||
Cash transferred from Delphi Technologies related to spin-off | 0 | 0 | 180 | |||
Selling, General and Administrative Expense | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Separation Costs | $ 118 | |||||
Powertrain Systems [Member] | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Other income (expense), net | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Transition Services Agreement Fees | $ 4 | $ 11 | ||||
Delphi Technologies Debt | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Long-term Debt, Gross | $ 1,550 | |||||
Delphi Technologies Tranche A Term Loan | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Loans Payable | $ 750 | |||||
Senior Notes | Delphi Technologies Senior Notes, 5.000% Due 2025 | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Debt Instrument, Face Amount | $ 800 | |||||
Debt Instrument, Maturity Date | Oct. 1, 2025 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% |
Discontinued Operations and H_4
Discontinued Operations and Held for Sale Reconciliation of Major Classes of Profit or Loss of Discontinued Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net sales | $ 4,385 | ||
Cost of sales | 3,496 | ||
Selling, general and administrative | 298 | ||
Amortization | 15 | ||
Restructuring | 90 | ||
Other Expense | (54) | ||
Income from discontinued operations before income taxes and equity income | 432 | ||
Income tax expense on discontinued operations | (71) | ||
Equity loss from discontinued operations, net of tax | 4 | ||
Income from discontinued operations, net of tax | $ 0 | $ 0 | 365 |
Income from discontinued operations attributable to noncontrolling interests | 31 | ||
Income from discontinued operations attributable to Aptiv | $ 0 | $ 0 | 334 |
Income from discontinued operations before income taxes attributable to Aptiv | 399 | ||
Discontinued Operations, Held-for-sale or Disposed of by Sale | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Income tax expense of discontinued operations attributable to noncontrolling interest | $ 6 |
Discontinued Operations and H_5
Discontinued Operations and Held for Sale Autonomous Driving Joint Venture (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2020USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | $ 1 | |||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 1 | |||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 64 | |||
Disposal Group, Including Discontinued Operation, Operating Lease, Right-of-Use Asset | 12 | |||
Disposal Group, Including Discontinued Operation, Intangible Assets | 126 | |||
Disposal Group, Including Discontinued Operation, Goodwill | 318 | |||
Disposal Group, Including Discontinued Operation, Other Assets | 10 | |||
Disposal Group, Including Discontinued Operation, Assets | 532 | |||
Disposal Group, Including Discontinued Operation, Accounts Payable | 9 | |||
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current | 19 | |||
Disposal Group, Including Discontinued Operation, Operating Lease, Liability, Noncurrent | 10 | |||
Disposal Group, Including Discontinued Operation, Other Liabilities | 5 | |||
Disposal Group, Including Discontinued Operation, Liabilities | 43 | |||
Autonomous Driving Joint Venture [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Income (Loss) from Individually Significant Component Disposed of or Held-for-sale, Excluding Discontinued Operations, before Income Tax | $ (172) | $ (155) | $ (57) | |
Scenario, Forecast | Autonomous Driving Joint Venture [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Number of Employees Contributed to Joint Venture | 700 | |||
Equity Method Investment, Ownership Percentage | 50.00% | |||
Hyundai [Member] | Scenario, Forecast | Autonomous Driving Joint Venture [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | |||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 1,600 | |||
Other Assets | $ 400 |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Revenues | $ 3,596 | $ 3,559 | $ 3,627 | $ 3,575 | $ 3,636 | $ 3,485 | $ 3,684 | $ 3,630 | $ 14,357 | $ 14,435 | $ 12,884 | |
Europe, Middle East & Africa [Member] | ||||||||||||
Revenues | [1] | 4,791 | 4,689 | 4,235 | ||||||||
Asia Pacific [Member] | ||||||||||||
Revenues | [2] | 3,876 | 3,916 | 3,544 | ||||||||
South America [Member] | ||||||||||||
Revenues | 246 | 270 | 282 | |||||||||
North America [Member] | ||||||||||||
Revenues | 5,444 | 5,560 | 4,823 | |||||||||
Intersegment Eliminations | ||||||||||||
Revenues | [3] | (37) | (45) | (69) | ||||||||
Intersegment Eliminations | Europe, Middle East & Africa [Member] | ||||||||||||
Revenues | (12) | (12) | (21) | |||||||||
Intersegment Eliminations | Asia Pacific [Member] | ||||||||||||
Revenues | (22) | (27) | (36) | |||||||||
Intersegment Eliminations | South America [Member] | ||||||||||||
Revenues | 0 | (1) | (1) | |||||||||
Intersegment Eliminations | North America [Member] | ||||||||||||
Revenues | (3) | (5) | (11) | |||||||||
Advanced Safety and User Experience | Operating Segments | ||||||||||||
Revenues | 4,092 | 4,078 | 3,446 | |||||||||
Advanced Safety and User Experience | Operating Segments | Europe, Middle East & Africa [Member] | ||||||||||||
Revenues | 1,758 | 1,652 | 1,362 | |||||||||
Advanced Safety and User Experience | Operating Segments | Asia Pacific [Member] | ||||||||||||
Revenues | 1,070 | 1,085 | 921 | |||||||||
Advanced Safety and User Experience | Operating Segments | South America [Member] | ||||||||||||
Revenues | 4 | 8 | 5 | |||||||||
Advanced Safety and User Experience | Operating Segments | North America [Member] | ||||||||||||
Revenues | 1,260 | 1,333 | 1,158 | |||||||||
Signal and Power Solutions | Operating Segments | ||||||||||||
Revenues | 10,302 | 10,402 | 9,507 | |||||||||
Signal and Power Solutions | Operating Segments | Europe, Middle East & Africa [Member] | ||||||||||||
Revenues | 3,045 | 3,049 | 2,894 | |||||||||
Signal and Power Solutions | Operating Segments | Asia Pacific [Member] | ||||||||||||
Revenues | 2,828 | 2,858 | 2,659 | |||||||||
Signal and Power Solutions | Operating Segments | South America [Member] | ||||||||||||
Revenues | 242 | 263 | 278 | |||||||||
Signal and Power Solutions | Operating Segments | North America [Member] | ||||||||||||
Revenues | $ 4,187 | $ 4,232 | $ 3,676 | |||||||||
[1] | Includes Aptiv’s country of domicile, Jersey, and the country of Aptiv’s principal executive offices, Ireland. The Company had no sales in Jersey or Ireland in any period. The Company had long-lived assets in Ireland of $79 million , $22 million and less than $1 million as of December 31, 2019 , 2018 and 2017 , respectively. The largest portion of net sales in the Europe, Middle East & Africa region was $1,340 million , $1,398 million and $1,191 million in Germany for the years ended December 31, 2019 , 2018 and 2017 , respectively. | |||||||||||
[2] | Net sales and long-lived assets in Asia Pacific are primarily attributable to China. | |||||||||||
[3] | Eliminations and Other includes the elimination of inter-segment transactions. Capital expenditures amounts are attributable to corporate administrative and support functions, including corporate headquarters and certain technical centers. |
Revenue Costs to Obtain a Contr
Revenue Costs to Obtain a Contract (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Capitalized Contract Cost, Net | $ 99 | $ 72 | |
Capitalized Contract Cost, Amortization | 11 | 6 | $ 3 |
Other Current Assets | |||
Capitalized Contract Cost, Net | 20 | 8 | |
Other Long-Term Assets | |||
Capitalized Contract Cost, Net | $ 79 | $ 64 |
Leases Lease - Additional Infor
Leases Lease - Additional Information (Details) $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Property, Gross | $ 5,917 | $ 5,343 |
Lessee, Operating and Finance Leases, Renewal Term | 8 | |
Lessee, Operating and Finance Leases, Options to Terminate Leases Term | 1 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 2,608 | $ 2,164 |
Minimum | ||
LesseeOperatingAndFinanceLeasesRemainingLeaseTerm | 1 | |
Maximum | ||
LesseeOperatingAndFinanceLeasesRemainingLeaseTerm | 30 | |
Capital Lease Obligations [Member] | ||
Property, Gross | $ 30 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 9 |
Leases Lease Cost (Details)
Leases Lease Cost (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lease, Cost [Abstract] | |
Finance Lease, Right-of-Use Asset, Amortization | $ 4 |
Finance Lease, Interest Expense | 1 |
Finance Lease Cost | 5 |
Operating Lease, Cost | 114 |
Short-term Lease, Cost | 13 |
Variable Lease, Cost | 1 |
Sublease Income | 0 |
Lease, Cost | 133 |
Lease Income | $ 11 |
Leases Supplemental Cash Flow I
Leases Supplemental Cash Flow Information Related to Leases (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Supplemental Cash Flow Information Related to Leases [Abstract] | |
Finance Lease, Interest Payment on Liability | $ 1 |
Operating Lease, Payments | 112 |
Finance Lease, Principal Payments | 3 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 86 |
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 5 |
Leases Supplemental Balance She
Leases Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 413 | $ 0 |
Operating Lease, Liability, Current | 94 | 0 |
Operating Lease, Liability, Noncurrent | 329 | 0 |
Operating Lease, Liability | 423 | |
Property, Gross | 5,917 | 5,343 |
Accumulated depreciation | (2,608) | $ (2,164) |
Finance Lease, Right-of-Use Asset | 21 | |
Finance Lease, Liability, Current | 4 | |
Finance Lease, Liability, Noncurrent | 18 | |
Finance Lease, Liability | $ 22 | |
Operating Lease, Weighted Average Remaining Lease Term | 6 years | |
Finance Lease, Weighted Average Remaining Lease Term | 6 years | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.50% | |
Finance Lease, Weighted Average Discount Rate, Percent | 4.00% | |
Disposal Group, Including Discontinued Operation, Operating Lease, Right-of-Use Asset | $ 12 | |
Disposal Group, Including Discontinued Operation, Operating Lease, Liability | 13 | |
Capital Lease Obligations [Member] | ||
Property, Gross | 30 | |
Accumulated depreciation | $ (9) |
Leases Maturities of Lease Liab
Leases Maturities of Lease Liabilities (Details) $ in Millions | Dec. 31, 2019USD ($) |
Maturities of Lease Liabilities [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 106 |
Finance Lease, Liability, Payments, Due Next Twelve Months | 5 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 94 |
Finance Lease, Liability, Payments, Due Year Two | 5 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 79 |
Finance Lease, Liability, Payments, Due Year Three | 4 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 59 |
Finance Lease, Liability, Payments, Due Year Four | 3 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 39 |
Finance Lease, Liability, Payments, Due Year Five | 2 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 93 |
Finance Lease, Liability, Payments, Due after Year Five | 6 |
Lessee, Operating Lease, Liability, Payments, Due | 470 |
Finance Lease, Liability, Payment, Due | 25 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (47) |
Finance Lease, Liability, Undiscounted Excess Amount | (3) |
Lessee, Operating Lease, Lease Not Yet Commenced, Amount | $ 25 |
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 10 years |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Allowance for doubtful accounts | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Balance at beginning of period | $ 38 | $ 34 | $ 33 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | 9 | 9 | 23 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (10) | (7) | (24) | |
Valuation Allowances and Reserves, Other Activity | 0 | 2 | 2 | |
Valuation Allowances and Reserves, Balance at end of period | 37 | 38 | 34 | |
Tax valuation allowance | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Balance at beginning of period | 1,178 | 1,008 | 1,399 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | [1] | 35 | 292 | 0 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (137) | (120) | (406) | |
Valuation Allowances and Reserves, Other Activity | (1) | (2) | 15 | |
Valuation Allowances and Reserves, Balance at end of period | $ 1,075 | $ 1,178 | $ 1,008 | |
[1] | Additions Charged to Costs and Expenses are primarily related to taxable losses for which the tax benefit has been reserved. |