AI English summary of an SEC filing — figures as filed
Aptiv APTVAptiv said total net sales for 2023 were $20.1 billion, up about 15% from 2022. The company said volume rose 10% and the UAW strikes had an adverse impact of about $180 million on revenue.
Key points
AI summaryAptiv said total net sales for 2023 were $20.1 billion, up about 15% from 2022. The company said volume rose 10% and the UAW strikes had an adverse impact of about $180 million on revenue.
The company said operating income for 2023 was $1.6 billion (adjusted operating income of $2.1 billion). Net cash provided by operating activities was $1,896 million, compared with $1,263 million in 2022.
The company said the income tax effect it recorded in 2023 from the intercompany transfer of intellectual property to its Swiss subsidiary and the 10-year tax incentive, combined with related additional current-year tax expense from those transactions, totaled about $2,080 million. Its effective tax rate was (144)% in 2023 and 12% in 2022.
Aptiv said it repurchased $398 million of ordinary shares in 2023 and repaid the remaining principal of $301 million on the Tranche A Term Loan, its only variable-rate borrowing. As of December 31, 2023, about $1,615 million remained available under the January 2019 share repurchase program.
Key figures
Fiscal year ended December 31, 2023
- Operating income
- $1.6B
- Net income
- $2.9B
- EPS
- $10.39
- Gross profit
- $922M
- Operating cash flow
- $1.9B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Aptiv’s 2023 net sales rise 15% to $20.1 billion from 2022
Aptiv said total net sales for 2023 were $20.1 billion, up about 15% from 2022. The company said volume rose 10% and the UAW strikes had an adverse impact of about $180 million on revenue.
Source · Based on the MD&A text of the filing
Aptiv 2023 operating income $1.6 billion, operating cash flow $1,896 million
The company said operating income for 2023 was $1.6 billion (adjusted operating income of $2.1 billion). Net cash provided by operating activities was $1,896 million, compared with $1,263 million in 2022.
Source · Based on the MD&A text of the filing
Tax effect of IP transfers and Swiss tax incentive about $2,080 million
The company said the income tax effect it recorded in 2023 from the intercompany transfer of intellectual property to its Swiss subsidiary and the 10-year tax incentive, combined with related additional current-year tax expense from those transactions, totaled about $2,080 million. Its effective tax rate was (144)% in 2023 and 12% in 2022.
Source · Based on the MD&A text of the filing
Aptiv 2023 buybacks $398 million, Tranche A Term Loan repaid $301 million
Aptiv said it repurchased $398 million of ordinary shares in 2023 and repaid the remaining principal of $301 million on the Tranche A Term Loan, its only variable-rate borrowing. As of December 31, 2023, about $1,615 million remained available under the January 2019 share repurchase program.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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