Aptiv Plc · NYSE:APTV
Aptiv — Investor Day (June 2019)
123 slides from Aptiv's investor day presentation, Jun 4, 2019
Slide 1: 2019 Investor Conference
June 4, 2019 APTIV 2019 Investor Conference
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance. Such fo
Slide 3: Aptiv's 2019 Investor Day
Aptiv’s 2019 Investor Day TODAY’S DISCUSSION FOCUSED ON KEY AREAS OF INVESTOR FEEDBACK STRONG POSITIVE RESPONSE TO APTIV INVESTMENT THESIS PORTFOLIO PERFECTLY POSITIONED Aptiv’s portfolio is perfectly positioned … but vehicle costs can’t go up forever. How do these trends intersect with overall for
Slide 4: Agenda
Agenda 9:30 11:15 12:30 2:00 AM AM PM PM WELCOME BREAK CONCLUDE to Boston 15 min today’s event STRATEGIC OVERVIEW EXECUTION of Aptiv’s business model and of Aptiv’s business model long term vision delivering sustainable performance LEADERSHIP Q&A followed by lunch CURRENT PLATFORMS FUTURE PLATFORMS
Slide 5: Strategic Overview
June 4, 2019 Kevin Clark President and Chief Executive Officer STRATEGIC OVERVIEW 2019 Investor Conference
Slide 6: Robust Business Model
Robust Business Model LEADING PORTFOLIO ALIGNED TO ENABLING THE FUTURE OF MOBILITY SAFE GREEN CONNECTED A FUTURE WITH ZERO ACCIDENTS A FUTURE WITH ZERO EMISSIONS A FUTURE WITH SEAMLESS CONNECTIVITY BUILT ON A FOUNDATION OF EXECUTION WITH A CONSISTENT MANAGEMENT PHILOSOPHY INNOVATION DISCIPLINED REVE
Slide 7: Proactively Addressing the Changing Environment
Proactively Addressing the Changing Environment SMART EXECUTION OF OUR BUSINESS MODEL AND TIMELY CAPITAL DEPLOYMENT HAS ENABLED APTIV TO ADAPT AND THRIVE IN A DYNAMIC MARKET INVESTED IN AUTOMATED DRIVING & DATA ACCRETIVE CONNECTOR BOLT-ONs increasing our CAPABILITIES prior to peers / OEMs, at attrac
Slide 8: Aptiv Perfectly Positioned Today
Aptiv Perfectly Positioned Today PROVIDING END-TO-END SOLUTIONS THAT ENABLE THE COMMERCIALIZATION OF NEW MOBILITY Aptiv’s advanced technologies and deep …allows us to conceive, specify systems knowledge across the brain and and deliver solutions for our nervous system of the vehicle… customers’ toug
Slide 9: Addressing Challenging Problems
Addressing Challenging Problems VEHICLE FATALITIES COMING DOWN EMISSIONS REGULATIONS BECOMING URBANIZATION AND CONSUMER GLOBALLY, BUT PASSIVE SAFETY AT ITS INCREASINGLY STRINGENT GLOBALLY TO EXPECTATIONS DRIVING DEMAND FOR LIMIT; ADVANCED SAFETY SOLUTIONS HELP IMPROVE AIR QUALITY AND REDUCE MORE INT
Slide 10: Right Strategy, Rigorously Executed
Right Strategy, Rigorously Executed DRIVING OUTPERFORMANCE TODAY, AND IN THE FUTURE • Built top-tier automated mobility technology capabilities and commercialization ecosystem Automated Driving • Established data monetization platform FUTURE PLATFORMS • Expanded into industrial and CV markets Seedin
Slide 11: Business Foundation
Business Foundation CONTINUOUS IMPROVEMENT IN STRONG GLOBAL EXECUTION CAPABILITIES FLEXIBLE BUSINESS MODEL STRATEGIC FOOTPRINT WELL POSITIONED TO Hourly Workforce SUPPORT PROFITABLE GROWTH High cost Relentless focus on driving Technical Centers (15) efficiencies and reducing Best cost risk; improved
Slide 12: Funding Investments for Growth
Funding Investments for Growth IMPROVEMENTS IN BUSINESS FOUNDATION ALLOWING US TO REINVEST FOR ACCELERATED GROWTH AND MARGIN EXPANSION THROUGH THE CYCLE PERFORMANCE AND INVESTMENTS COMPETITIVE MOAT EXPANDING 2014 - 2019E Reinvestment in the business improving competitive $2.6B EXPANDING EARNINGS pos
Slide 13: Fast Growing Business Gaining Scale
Fast Growing Business Gaining Scale LEVERAGING FULL APTIV CAPABILITIES TO INCREASE SCALE AND RELEVANCE IN FAST-GROWING PRODUCT AREAS ACTIVE SAFETY ELECTRIFICATION CONNECTED VEHICLES Total Addressable Market, $ Billions Total Addressable Market, $ Billions % Of Global Vehicle Production 20% 15% CAGR
Slide 14: Future Platforms
Future Platforms SEEDING THE NEXT WAVE OF GROWTH, WHILE DIVERSIFYING BUSINESS MODELS AND END MARKETS Total Addressable Market ($ Billions) +3x AUTOMATED DRIVING $50+ • Active safety leading to autonomous driving; robust OEM level 3 solutions by 2025 • 2021 – 2025: initial commercial deployments by m
Slide 15: Evolution of Safe and Efficient Solutions
Evolution of Safe and Efficient Solutions EACH GENERATION DRIVING INCREASED CONTENT THAT APTIV ENABLES 1ST Generation 2nd Generation 3rd Generation 4th Generation PASSIVE SAFETY MECHATRONICS DRIVER WARN / ASSIST SAFETY AUTOMATION % of % of % of % of Prod1 Prod1 Prod1 Prod1 Night Vision Back-up / Sur
Slide 16: Increasing Addressable Content
Increasing Addressable Content PROACTIVE INVESTMENTS ENSURE APTIV IS BEST POSITIONED TO CAPITALIZE ON INFLECTIONS BETWEEN GENERATIONS 1ST Generation 2nd Generation 3rd Generation 4th Generation Edge Compute & Cyber Security Sensors (LiDAR), Software Algorithms Fail-Operational / ASIL-D Architectures
Slide 17: Scalable Advanced Safety Solutions
Scalable Advanced Safety Solutions $15B+ Market In 2025 ADVANCED SAFETY TECHNOLOGIES ACTIVE SAFETY AUTOMATED DRIVING CAN ELIMINATE VIRTUALLY ALL Scalable solutions helping OEMs move Monetizing automated driving DRIVER ERRORS, SAVING OVER 1 to higher levels of active safety, and investments today thr
Slide 18: Increasing CO2 Emissions Standards
Increasing CO2 Emissions Standards HIGH VOLTAGE PORTFOLIO ARCHITECTURE OPTIMIZATION Full portfolio of High Voltage Electrification Aptiv design and manufacturing capabilities helps solutions is content accretive, with penetration seamlessly deliver optimized architectures to help $10B+ Market In 202
Slide 19: Improving the In-Cabin Experience
Improving the In-Cabin Experience GREATER CONVENIENCE GREATER SAFETY Aptiv sensing and compute solutions the Enabling driver out-of-the-loop safety ideal platform to roll out software enabled automation requires transition from driver state functionality addressing $2B Interior Sensing to driver rea
Slide 20: Vehicle Becoming Part of the IoT
Vehicle Becoming Part of the IoT UNLOCKING NEW VALUE COST AVOIDANCE Vehicle becoming a software Embedding OTA Connectivity as defined platform, which can standard on all applicable AS&UX improve and evolve over time controllers and compute platforms $20B+ Market In 2025 OTA CAN QUICKLY AND EFFICIENT
Slide 21: Competitive Moat is Expanding
Competitive Moat is Expanding VEHICLE IS BECOMING A FULL SYSTEM SOLUTION CAPABILITIES MAKE APTIV UNIQUELY QUALIFIED SOFTWARE DEFINED PLATFORM TO CONCEIVE, SPECIFY AND DELIVER NEW MOBILITY APPLICATIONS 01100011 10001100 ADVANCED CORE STRENGTHS </> 01011101 SOFTWARE CLOUD 01101010 Complementary, inter
Slide 22: Advanced Solutions Delivered Responsibly
Advanced Solutions Delivered Responsibly SUSTAINABILITY EFFORTS FOCUSED ON PEOPLE, PORTFOLIO AND PLANET Creating exceptional value for The right people, organized customers, which generates best- and incentivized to create in-class returns for shareholders long-term value PEOPLE APTV OUR STAKEHOLDER
Slide 23: More Sustainable through "The How"
More Sustainable through “The How” CULTURE OF CONTINUOUS IMPROVEMENT AROUND OUR PEOPLE, PROCESSES AND PORTFOLIO MAKES APTIV A MORE SUSTAINABLE BUSINESS PEOPLE PROCESSES PORTFOLIO Our people play the key role in executing our Delivering 91 million components globally every day We operate in a cyclica
Slide 24: Strategy Has Delivered Strong Results
Strategy Has Delivered Strong Results EXECUTION TOWARDS LONG TERM FINANCIAL FRAMEWORK CREATING VALUE FOR SHAREHOLDERS GROWTH INCOME TSR Revenue, IHS Production Operating Income1 2015 - April 30th, 2019 Aptiv | 133 Aptiv | 140 49% Peers2 | 116 Peers2 | 114 Production | 107 13% 2 2015 2016 2017 2018 2
Slide 25: Aptiv 2025 Vision
Aptiv 2025 Vision … LOGICAL EXTENSION OF OUR STRATEGY ADVANCED SAFETY & SIGNAL & POWER USER EXPERIENCE SOLUTIONS WINNING CULTURE Winning teams deliver best-in-class customer and shareholder value FUTURE PLATFORMS EMERGE 2025 REVENUE Investments result in accretive solutions IMPROVED GROWTH PROFILE ~
Slide 26: Execution Priorities
Execution Priorities FOCUSED ON CREATING LONG-TERM VALUE FOR OUR CUSTOMERS, SHAREHOLDERS AND EMPLOYEES FULL STACK SOLUTIONS required to 2025 VISION in sight - Aptiv a more sustainable unlock new features and functions, resulting business, with more recurring revenue, 25% CV in increasingly complexit
Slide 27: Who You Will Hear From Today
Who You Will Hear From Today Glen De Vos Senior VP, Chief Technology Officer President, Mobility & Services Group Mariya Trickett Senior VP, Chief Human Resources Officer David Paja Senior VP and President, Advanced Safety & User Experience Tim Clark Senior VP, Supply Chain Management Lee Bauer VP,
Slide 28: Full System Solutions
June 4, 2019 Glen De Vos Senior Vice President, Chief Technology Officer and President, Mobility & Services Group FULL SYSTEM SOLUTIONS 2019 Investor Conference
Slide 29: Aptiv: The Only Full Systems Solution Provider
Aptiv: The Only Full Systems Solution Provider OUR HOLISTIC SYSTEMS APPROACH DELIVERS OPTIMIZED SOLUTIONS ACROSS ALL LAYERS UNIQUELY POSITIONED TO BALANCE SYSTEM PERFORMANCE AND COST How are the solutions delivered? How do you leverage the benefits of cloud, and balance on-board vs. off-board comput
Slide 30: How We Differentiate
How We Differentiate DELIVERING MEANINGFUL VALUE AT EVERY LAYER OF THE VEHICLE SYSTEM SOLUTION LAYER DESCRIPTION CORE STRENGTHS APPLIED EXAMPLES ADVANCED Data acquisition, edge processing, OTA • Edge processing algorithms / known issues library CLOUD SOFTWARE transmission and analytics platforms • V
Slide 31: Prudent Investments for Growth
Prudent Investments for Growth ENGINEERING INVESTMENTS SUPPORTING RECORD NEW BUSINESS AWARDS ENGINEERING INVESTMENTS Net, $ Millions, % of Total Revenue FUTURE PLATFORMS 8% Of Sales • Funding development of autonomous mobility, next-gen architecture and connected services 1% • Ensuring best talent a
Slide 32: Acquisitions & Partnerships Enhance Capabilities
Acquisitions & Partnerships Enhance Capabilities… … AND ACCELERATE PATH TO COMMERCIALIZATION RELEVANT EXAMPLES Control-Tec unlocks unique value through robust data acquisition and edge analytics capabilities, while leveraging the cloud to deliver actionable insights. ADVANCED CLOUD SOFTWARE 01100011
Slide 33: Global Engineering
Global Engineering EXPANDING SYSTEMS & SOFTWARE CAPABILITIES WHILE BALANCING CUSTOMER PROXIMITY AND ACCESS TO TALENT Our ENGINEERING RESOURCES GLOBAL FOOTPRINT AND CAPABILITIES are critical to executing on our STRATEGIC FOOTPRINT CLOSE TO SCALE AT COMPETITIVE COSTS from non- pipeline of new business
Slide 34: Agile Methods and Tools
Agile Methods and Tools RELENTLESS FOCUS ON IMPROVING PRODUCT QUALITY AND ENGINEERING PRODUCTIVITY AGILE METHODS TOOLS AND WORKFLOW STANDARDS COMPLIANCE • Scaling customized agile framework based on scrum • Investing in an industry-best engineering toolchain • Strengthening Aptiv’s culture of compli
Slide 35: Platform Strategy
Platform Strategy AGILE METHODS COMBINED WITH PLATFORM REUSE DRIVE PROFITABLE GROWTH INITIAL PURSUIT Pre-award costs associated with business 2015 - 2022 pursuit, advanced development and diligence NEW OEMs REDUCTION OF DEVELOPMENT COSTS ON SUBSEQUENT Incremental benefits for future OEM deployments
Slide 36: Architecture Requirements Expanding
Architecture Requirements Expanding… CREATING NEW OPPORTUNITIES FOR APTIV KEY CHALLENGES MINIATURIZATION Component miniaturization POWER CONSUMPTION 40KW and increased wire density SIGNAL DISTRIBUTION 500Mb/s POWER POWER CONSUMPTION 1100W QUALITY CONNECTOR CONSUMPTION 700W COUNT 350 Automation requi
Slide 37: Demanding New Compute Solutions
… Demanding New Compute Solutions PLATFORM STRATEGY ENABLES APTIV TO EFFICIENTLY DELIVER THESE ADVANCED SOLUTIONS DOMAIN EXPANSION UP INTEGRATION BEGINNING KEY CHALLENGES Leveraging compute platform knowledge to High performance compute platforms deliver incremental features and functions serve as n
Slide 38: Perfectly Positioned To Win
Perfectly Positioned To Win BRAIN AND NERVOUS SYSTEM CAPABILITIES ENABLING FULL SYSTEM SOLUTIONS CURRENT PLATFORMS SVA™ FUTURE PLATFORMS ADVANCED CLOUD SOFTWARE 01100011 10001100 </> 01011101 01101010 APPLICATION LAYER MIDDLEWARE 1 1 1 1 0 1 1 0 0 0 1 0 0 0 OPERATING SYSTEM 0 1 1 0 0 1 1 HARDWARE AB
Slide 39: Current Platforms
June 4, 2019 David Paja Senior Vice President and President, Advanced Safety and User Experience CURRENT PLATFORMS 2019 Investor Conference
Slide 40: Consumers Demanding Increased Functionality
Consumers Demanding Increased Functionality… STRONG CONSUMER DEMAND FOR SAFE, GREEN AND CONNECTED FEATURES AND FUNCTIONS Examples YESTERDAY TODAY TOMORROW BACKUP CAMERAS connected to the AUTOMATIC EMERGENCY BRAKING uses a HIGHWAY / TRAFFIC JAM ASSIST uses 360 infotainment display provide the driver
Slide 41: Which is Enabled Through Architecture
… Which is Enabled Through Architecture CONSUMERS DON’T SEE ARCHITECTURE DIRECTLY, BUT THEY KNOW IT FROM APPLICATIONS IT ENABLES CUSTOMERS CREATING VALUE FOR OEMs AND END USERS BY ENABLING NEW MOBILITY SOLUTIONS CLOUD APPLICATIONS which CONSUMERS value ADVANCED SOFTWARE where domain knowledge, and A
Slide 42: Sensing
Sensing LEADING POSITION IN EXTERIOR AND INTERIOR SENSING SOLUTIONS APPLICATIONS EXTERIOR SENSING TAM1 SELECTED BY BMW FOR ACTIVE • Forward Collision Warning 15%+ SAFETY AND GESTURE CONTROL • Automatic Emergency Braking CAGR $14B • Blind Spot / Lane Keep Assist • Driver State Monitoring • Gesture Co
Slide 43: Data & Power Distribution
Data & Power Distribution GLOBAL LEADER IN COMPLEX SYSTEMS DEVELOPMENT AND OPTIMIZATION APPLICATIONS CONNECTORS CPV1 AWARDED HIGH VOLTAGE • Traditional / Plug-In Hybrids 5% GoM2 ELECTRIFICATION AND ACTIVE • Battery Electric Vehicles $250 SAFETY SATELLITE ARCHITECTURE • Ultra high definition audio an
Slide 44: Compute
Compute UNLOCKING GREATER SOFTWARE ENABLED FUNCTIONALITY APPLICATIONS SW & COMPUTE TAM1 AWARDED MULTIPLE CENTRAL • Scalable Advanced Safety COMPUTE PROGRAMS ACROSS • Reconfigurable clusters and displays 5% DIFFERENT DOMAINS • Dynamic driving performance (sport, CAGR comfort, eco, etc.) • Simplified
Slide 45: Systems Integration
Systems Integration ABSTRACTION OF SOFTWARE FROM HARDWARE DRIVES INCREASING STRATEGIC VALUE FOR INTEGRATION CAPABILITIES APPLICATIONS TRANSITION FROM HARDWARE DEFINED • Brought-in mobile device connectivity • Apple CarPlay, Android Auto TO SOFTWARE DEFINED VEHICLES • Lifecycle management for feature
Slide 46: Software Enabled Applications
Software Enabled Applications FOCUSED ON DOMAINS WHERE TIGHT LINKAGE TO UNDERLYING VEHICLE ARCHITECTURE CREATES VALUE ACTIVE SAFETY USER EXPERIENCE2 CONNECTED SERVICES CLOUD • Base (ex: Adaptive Cruise, Collision Warn) • Personalized user interfaces • Data acquisition and edge processing • Mid-Range
Slide 47: New Mobility Solutions Increasingly Integrated
New Mobility Solutions Increasingly Integrated HIGHER COMPLEXITY OF NEW MOBILITY SOLUTIONS DEMANDING IMPROVED LIFECYCLE MANAGEMENT AND GREATER INTEGRATION OF APPLICATIONS ON THE ARCHITECTURES THAT RUN THEM ADVANCED SAFETY IN-CABIN EXPERIENCE V2X CONNECTIVITY CLOUD Scalable, fail-operational safety s
Slide 48: Proof Point: Satellite Architecture
Proof Point: Satellite Architecture 2019 PACE AWARD KNOWLEDGE, CAPABILITIES AND TOOLS ENABLE APTIV TO WIN WINNER LEGACY APPROACH SATELLITE ARCHITECTURE APPROACH • Smart sensors process environmental inputs independently • Intelligence taken out of the sensor, reducing sensor mass and cost • Data is
Slide 49: Alignment to Customer Strategies
Alignment to Customer Strategies FLEXIBLE AND SCALABLE APPROACH ENABLES APTIV TO WORK THE WAY OUR CUSTOMERS WANT US TO INNOVATION ACQUIRED PARTNERS IN INVESTING IN ADVANCED FROM SUPPLY CHAIN DEVELOPMENT TECHNOLOGY LEADERSHIP Fast followers with reasonable scale Strong willingness to adopt technology
Slide 50: Aptiv Perfectly Positioned as "Tier 0"
Aptiv Perfectly Positioned as “Tier 0” FULL SYSTEM SOLUTIONS DELIVER OPTIMIZED PERFORMANCE FOR CUSTOMERS SCALABILITY OF FUNCTIONALITY • Interoperable systems avoid extensive re-engineering • Upgrade and enhancements for existing fleet LOGICAL AND INFORMED TRADE-OFFs • Cost vs. Performance • Centrali
Slide 51: Next Gen Architectures - SVA
June 4, 2019 Lee Bauer Vice President, Mobility Architecture Group NEXT GEN ARCHITECTURES - SVATM 2019 Investor Conference
Slide 52: SVA a Sustainable Architecture
SVA™ a Sustainable Architecture A REFERENCE DESIGN AND IMPLEMENTATION THAT LOWERS THE TOTAL COST OF OWNERSHIP FOR CUSTOMERS, WHILE INCREASING CONTENT FOR APTIV VALUE FOR CUSTOMERS VALUE FOR APTIV • Lower total cost of ownership • Increasing addressable content (value and share) • Faster development
Slide 53: Business Model Impact
Business Model Impact TRANSITION FROM CLOSED PLATFORM TO OPEN PLATFORM ENABLES OEMs TO FOCUS ON WHERE THE REAL DIFFERENTIATION AND VALUE ADD OCCURS CUSTOMERS: NEW OPEN PLATFORMS FOR INNOVATION APTIV: SOFTWARE, HARDWARE AND LICENSING UNLOCKS NEW VEHICLE FUNCTIONALITY ZONE CONTROL AND COMPUTE PLATFORM
Slide 54: Architecture Sustainability
Architecture Sustainability SVA™ ADDRESSING CHALLENGES IN DEVELOPMENT, MANUFACTURING AND POST-PRODUCTION SIGNIFICANT CHALLENGES TODAY KEY SVA™ TECHNICAL ATTRIBUTES ARCHITECTURE SUSTAINABILITY CHALLENGES ABSTRACT HARDWARE FROM SOFTWARE THROUGHOUT VEHICLE LIFECYCLE • Create independent lifecycles: fas
Slide 55: SVA Topology
SVA™ Topology OPTIMIZED AND SUSTAINABLE ARCHITECTURE THAT ENABLES FEATURE RICH, HIGHLY AUTOMATED VEHICLES POWERDATA CENTER UNIFIED POWER AND DATA BACKBONE CENTRAL COMPUTE CLUSTER (PDC) A “universal docking station” Simplified, modular, and automatable harness technology / Universal compute platform
Slide 56: SVA Software and Solutions Platform
SVA™ Software and Solutions Platform TRANSFORMING TO A SOFTWARE DEFINED PLATFORM THAT UNLOCKS VALUE FOR APTIV Cloud-based lifecycle management (OTA, TRADITIONAL SERVERS VEHICLE OPEN SERVER PLATFORM (OSP) Digital Twin, etc.) (Simplified) Variety of applications run on the same physical hardware SAFET
Slide 57: Commercial Validation of Approach
Commercial Validation of Approach ADVANCED DEVELOPMENT AWARDS, AND RECENT OEM MESSAGING ALIGNED TO SVA™ VALUE PROP REINFORCING APTIV’S APPROACH “What is now the really big challenge to come is that we will separate software from hardware. We will have to deploy 2x ADVANCED DEVELOPMENT AWARDS softwar
Slide 58: How Aptiv Makes Money
How Aptiv Makes Money INCREMENTAL VALUE ON CURRENT PRODUCTS + NEW VALUE FROM HARDWARE AND SOFTWARE BUSINESS MODEL KEY ARCHITECTURE CPV LICENSING SALE A REFERENCE DESIGN AND SIGNIFICANT CPV INCREASE FROM CONTENT One-time, per vehicle software and/or IP licensing sale IMPLEMENTATION THAT SEPARATES cap
Slide 59: Autonomous Mobility
June 4, 2019 Karl Iagnemma President, Aptiv Autonomous Mobility AUTONOMOUS MOBILITY 2019 Investor Conference
Slide 60: Urban Mobility Challenges and Benefits
Urban Mobility BENEFITS of smart mobility CHALLENGES by 2050 automation to cities +70% +40% 87% 28% Of Population Freight Fewer Accidents Fewer Vehicles 5x 4x 3x 66% 44% 30% Emissions Cost Travel time Lower Emissions Fewer Parking Spaces Shorter Travel Time Source: Arthur D. Little, World Economic F
Slide 61: Leveraging Aptiv's Full Capabilities
Leveraging Aptiv’s Full Capabilities FLEXIBLE AND SCALABLE APPROACH TO SOFTWARE, RUNNING ON OPTIMIZED VEHICLE ARCHITECTURE LEVEL 1 to LEVEL 5 ADVANCED CLOUD SOFTWARE 01100011 MODULAR APPROACH POLICY & PLANNING SCALABLE PLATFORM 10001100 </> 01011101 APPLICATION LAYER Flexible software design allows
Slide 62: Structured AI Approach
Structured AI Approach COMBINING THE BEST OF RULES BASED AND AI APPROACHES TO AUTOMATED DRIVING SOFTWARE DEVELOPMENT 1. 这只是一个. 2. 测试句子。 3. 我不会说中文 LAWS INTERPRETATION SPECIFICATION IMPLEMENTATION BEHAVIOR EXPLAINABLE START WITH RULES OF THE ROAD • Rules organized hierarchically with some rules more i
Slide 63: Las Vegas Commercial Deployment
Las Vegas Commercial Deployment DEVELOPING APPROACH THAT ALLOWS APTIV TO QUICKLY AND EFFICIENTLY SCALE FUTURE DEPLOYMENTS 50K+ 9 10 4.95 GAINING REAL-WORLD EXPERIENCE OUT • Deep understanding of support requirements for ongoing operations OF • Act as an ambassador for the technology PAID AV RIDES WO
Slide 64: Path to Commercialization
Path to Commercialization CONTINUED PROGRESS, DEPLOYMENT TIMEFRAME REMAINS UNCHANGED NEXT GENERATION VEHICLE PLATFORM Vehicle capable of driverless operation Moderate FOV camera • Short range radar (2x) • Long range radar (3x) • Long range radar (2x) • High def lidar (2x) • Short range lidar (2x) •
Slide 65: Smart City Selection
Smart City Selection DEPLOYMENTS EXECUTED ON A SELECTIVE CITY BY CITY BASIS TO MAXIMIZE RETURN ON INVESTMENT MARKET SELECTION CRITERIA DEEP UNDERSTANDING OF OPERATIONAL DOMAIN IMPACTS ON CITY DEPLOYABILITY DEMOGRAPHIC • Ride Hailing Penetration And Driver Income • Population Density • Climate / Weat
Slide 66: AMoD Requires Four Primary Roles
AMoD Requires Four Primary Roles MOBILITY PROVIDERS NEED APTIV AUTOMATED DRIVING SOLUTIONS AUTOMATED ASSET NETWORK DRIVING VEHICLE OWNER & PROVIDER SYSTEM MANAGER • Software • Vehicle development • Vehicle ownership • Consumer interface • Sensors • Vehicle production • Vehicle financing • Demand ful
Slide 67: Automated Mobility Deployment Phases
Automated Mobility Deployment Phases APTIV UNIQUELY POSITIONED FOR SUCCESS ACROSS EACH PHASE OF AD MATURITY 2020 TODAY DRIVER OUT 2022 2025 2030 OF THE VEHICLE PHASE COMMERCIAL GREENFIELD BROADER OEM DEMONSTRATIONS LAUNCHES ADOPTION CONVERGENCE SOFTWARE MATURITY LIMITED CAPABILITIES SMALL, BUT VIABL
Slide 68: How Aptiv Makes Money
How Aptiv Makes Money BUSINESS MODEL DRIVES HIGHER MARGIN RECURRING REVENUE DATA MONETIZATION AMoD REVENUE 4 Enable data acquisition and monetization 70 - 80% RECURRING REVENUE AT SCALE through edge processing and OTA $ Billions FLEET MONITORING 3 RECURRING Support network operators through AV fleet
Slide 69: Human Capital
June 4, 2019 Mariya Trickett Senior Vice President and Chief Human Resources Officer HUMAN CAPITAL 2019 Investor Conference
Slide 70: Fusing Physical and Human Capital
Fusing Physical and Human Capital FUSING OUR INDUSTRIAL FOUNDATION WITH OUR DIGITAL FUTURE EFFECTIVELY CREATING DIFFERENTIATED INTEGRATED HARDWARE AND SOFTWARE SOLUTIONS INDUSTRIAL TECH SOFTWARE: HUMAN CAPITAL • Talent, Diversity, Engagement • Productivity & Creativity HARDWARE: PHYSICAL CAPITAL • P
Slide 71: Human Capital Philosophy
Human Capital Philosophy BALANCING QUALITY, FLEXIBILITY AND AFFORDABILITY ACROSS THE GLOBAL ENTERPRISE Meaningful work with QUALITY • Skills smart, talented and • Diversity passionate people • Engagement FLEXIBILITY The right people, with • Role • Location the right experience, in • Contribution the
Slide 72: Human Capital Tightly Aligned to Strategy
Human Capital Tightly Aligned to Strategy DIVERSE SOLUTIONS REQUIRE AN EQUALLY DIVERSE SET OF PEOPLE TO MAKE THEM REAL; CLEAR ALIGNMENT TO A COMMON MISSION AND STRATEGY TO DELIVER IT Deliver safe, green and connected MISSION technologies that enable the future of mobility Empowered to deliver innova
Slide 73: Compelling Mission
Compelling Mission CLEAR AND COMPELLING MISSION AT THE HEART OF EVERYTHING WE DO – FOR INDUSTRIAL AND TECH MISSION CULTURE STRUCTURE TALENT Deliver safe, green and connected technologies that enable the future of mobility “Over one million people die in vehicle related accidents every year. Knowing
Slide 74: Winning Culture
Winning Culture SUSTAINABLE CULTURES DELIVER BEST-IN-CLASS PERFORMANCE FOR ALL STAKEHOLDERS RESULTS COMPOUND WELL ABOVE PEERS MISSION CULTURE STRUCTURE TALENT Empowered to deliver innovation, continuous improvement CORE VALUES AT THE HEART OF APTIV CULTURE SURVEY VALIDATES POSITIONING Principles for
Slide 75: Efficient and Agile Structure
Efficient and Agile Structure PUTTING THE RIGHT STRUCTURE ON TOP OF A STRONG, POSITIVE CULTURE ENABLES HIGH PERFORMANCE MISSION CULTURE STRUCTURE TALENT The right people organized and incentivized the right way to create stakeholder value LOCATIONS ORGANIZATION INCENTIVES • Global talent hubs where
Slide 76: Incentives Aligned to Long-Term Value
Incentives Aligned to Long-Term Value PAY-FOR-PERFORMANCE CULTURE WITH METRICS TIGHTLY LINKED TO LONG-TERM VALUE CREATION PERFORMANCE BASED LONG-TERM VALUE FOCUSED ACHIEVED THE RIGHT WAY Named Executive Officer Pay Mix Strategic Results Modifier (SRM) Component of AIP Incentives Aligned To Creating
Slide 77: Talent Foreshadows Future Solutions
Talent Foreshadows Future Solutions PEOPLE AND TALENT HAVE ALWAYS BEEN A LEADING INDICATOR OF SUCCESS; APTIV HAS A LEGACY OF EVOLUTIONS WHICH CREATED VALUE MISSION CULTURE STRUCTURE TALENT Global and diverse workforce, attracting, retaining and IN-CABIN EXPERIENCE EXAMPLES developing the best talent
Slide 78: Strong and Diverse Talent Pipeline
Strong and Diverse Talent Pipeline ATTRACTING, DEVELOPING AND RETAINING BEST TALENT TO DELIVER 2025 VISION FOCUS UNIVERSITIES WITH SIGNIFICANT ON EXPANDING DIVERSITY OF EXPERIENCE CAMPUS PRESENCE HELP SECURE TOP TALENT ACROSS ALL SEGMENTS AND FUNCTIONS INDUSTRIAL TECH INDUSTRIAL Example TECH EXECUTI
Slide 79: Human Capital Delivering 2025 Vision
Human Capital Delivering 2025 Vision STRONG FOUNDATION MAKING THE FUTURE OF MOBILITY REAL INDUSTRIAL TECH INDUSTRIAL TECHNOLOGY Outsized impact driven by decades of Agility and creativity to thrive in dynamic experience in delivering sustainable value end markets, that are requiring smarter, creatio
Slide 80: Integrated Supply Chain
June 4, 2019 Tim Clark Senior Vice President, Supply Chain Management INTEGRATED SUPPLY CHAIN 2019 Investor Conference
Slide 81: Flawless Execution Required to Support Our Customers
FLAWLESS EXECUTION REQUIRED TO SUPPORT OUR CUSTOMERS EVERY RECEIVE 220 MILLION SHIP 91 MILLION COMPONENTS DAY PIECES FROM 3,600 SUPPLIER LOCATIONS TO 7,300 CUSTOMER LOCATIONS WITH 99% ON-TIME DELIVERY AT APTIV 81 2019 Investor Conference | June 4, 2019 | Aptiv
Slide 82: Global Supply Chain
Global Supply Chain RELENTLESSLY FOCUSED ON IMPROVING APTIV’S GLOBAL SUPPLY CHAIN AND EFFICIENCY, FLEXIBILITY AND AGILITY OF MANUFACTURING CAPABILITIES CORE TO GLOBAL OPERATIONS DELIVERING VALUE FOR OUR CUSTOMERS Technical Centers (15) Manufacturing Sites (125) Worldwide design and manufacturing Sup
Slide 83: Legacy of Delivering Automotive Grade
Legacy of Delivering Automotive Grade MEETING AUTOMOTIVE GRADE EXPECTATIONS ON QUALITY AND DELIVERY, WHILE CONTINUING TO REFINE AND IMPROVE PROCESSES IN REGION, FOR REGION LEAN TOOLS DESIGN FOR MANUFACTURING Established global footprint supports local Managing short cycle turnaround expectations Com
Slide 84: Integrated Supply Chain of the Future
Integrated Supply Chain of the Future EVOLUTION OF THE VEHICLE DRIVING A TRANSFORMATION OF THE INTEGRATED SUPPLY CHAIN TO SUPPORT IT TRANSFORMATION TO A DELIVERED THROUGH A SMARTER, ... SUPPORTED BY A MORE + SOFTWARE DEFINED VEHICLE MORE FLEXIBLE FACTORY… DYNAMIC LOGISTICS NETWORK YESTERDAY AUTOMATI
Slide 85: Manufacturing Automation
Manufacturing Automation INCREASING AUTOMATION AND REDUCING COMPLEXITY WITH EVOLVING VEHICLE ARCHITECTURES, CRITICAL FOR ACCELERATING DEVELOPMENT AND IMPROVING BUILT-IN QUALITY KEY CHALLENGES WIRE HARNESS EXAMPLE Automated Kitting Automated Terminal/Die Warehouse MINIATURIZATION Producing complete w
Slide 86: Platinum Supplier Program
Platinum Supplier Program DEVELOPING KEY SUPPLIER PARTNERS FOR TECHNOLOGY, GROWTH & WITH EXECUTIVE ALIGNMENT SUPPLIER BENEFITS FROM EARLY ENGAGEMENT, ENABLING INNOVATION AND DESIGN COLLABORATION FOR MUTUAL 10% IMPROVED COST TAKEOUT, AND TECHNOLOGY ALIGNMENT PRODUCTIVITY INCREASE EARLY SOURCING INVOL
Slide 87: Silicon and SoC Strategy
Silicon and SoC Strategy PLATFORM STRATEGY HELPS ENSURE THE RIGHT TOTAL RANGE SoC SUPPLIERS FOR FULL COVERAGE, PLATFORM LEVERAGE AND REUSE Example PERFORMANCE 2 1 ALIGNING PRODUCT ROADMAPS STRATEGIC PARTNERSHIP • Strategic suppliers with best-in-class tech FOR ACTIVE SAFETY VISION SUPPLIER • Ensure
Slide 88: Contract Manufacturing
Contract Manufacturing CORE / NON-CORE VALUE NETWORK APPROACH DRIVES ASSET-LITE FLEXIBLE CAPACITY AND EFFICIENCY Example 2022 GOAL IMPROVED FLEXIBILITY $1,000M SELECTIVE OUTSOURCING • Asset-lite agility WAVE III OF NON-CORE PCB 2019 / 2020 • Flexible capacity for demand swings MANUFACTURING $750M HI
Slide 89: Leveraging Other Industrial-Tech Best Practices
Leveraging Other Industrial-Tech Best Practices BENCHMARKING VERSUS BEST-IN-CLASS INDUSTRIAL TECHNOLOGY PEERS TO IDENTIFY AND VALIDATE OPPORTUNITIES FOR FURTHER ENHANCEMENT MODULAR CELL DESIGN ADDITIVE MFG ACQUISITION SYNERGY SIOP MANUFACTURING High flexibility production cells Applications in R&D,
Slide 90: Delivering Operational Excellence
Delivering Operational Excellence OPPORTUNITY TO DRIVE INFLECTION IN MANUFACTURING AND MATERIAL PERFORMANCE MANUFACTURING PERFORMANCE MATERIAL PERFORMANCE Gross Performance, $ Millions Gross Performance, $ Millions INDUSTRY 4.0 APPROACH NETWORK OF THE FUTURE • Digital factory enabling predictive ana
Slide 91: Financial Overview
June 4, 2019 Joseph Massaro Senior Vice President and Chief Financial Officer FINANCIAL OVERVIEW 2019 Investor Conference
Slide 92: Aptiv Commitments: 2017 Investor Conference
Aptiv Commitments: 2017 Investor Conference STRONG FOUNDATION WITH CLEAR PATH TO FURTHER VALUE CREATION GROWTH ABOVE EARNINGS CASH POSITIONING MARKET GROWTH DEPLOYMENT FOR THE FUTURE RELENTLESS FOCUS BALANCED AND IMPROVING THROUGH-CYCLE 4-6 %GoM1 ON STRUCTURAL COST, EPS LEVERS DISCIPLINED APPROACH P
Slide 93: Aptiv Performance: 2017 - 2019E
Aptiv Performance: 2017 - 2019E* DELIVERING STRONG GROWTH OVER MARKET AND FINANCIAL RETURNS GROWTH ABOVE EARNINGS CASH POSITIONING MARKET GROWTH DEPLOYMENT FOR THE FUTURE RELENTLESS FOCUS BALANCED AND IMPROVING THROUGH-CYCLE 10 %GoM1 ON STRUCTURAL COST, EPS LEVERS DISCIPLINED APPROACH PERFORMANCE IN
Slide 94: Through-Cycle Resiliency
Through-Cycle Resiliency SUSTAINING GROWTH DESPITE WEAKER MACRO ENVIRONMENT ACTIVE SAFETY GLOBAL VEHICLE PRODUCTION Outperformance driven by new launch volume and Lower vehicle production and operational inefficiencies increased take rates and penetration related to variability in customer schedules
Slide 95: Macro Overview
Macro Overview OUTLOOK ASSUMES MACRO ENVIRONMENT STABILIZES IN 2020 AND BEYOND GLOBAL1 NORTH AMERICA EUROPE CHINA 39% of Revenue2 32% of Revenue2 19% of Revenue2 1% 2017 Investor Day Estimate: 1% ~ flat - ~flat -1% -3.5% -3% -9% -1% -1% -4% -4% 2018 2019 2020-'22 2018 2019 2020-'22 2018 2019 2020-'2
Slide 96: 2022 Revenue Update
2022 Revenue Update REVENUE TRACKING ABOVE TARGET DUE TO STRONG SECULAR GROWTH DRIVERS REVENUE REVENUE GROWTH DRIVERS $ Billions $ Billions 6-8% 6-8% GoM GoM 5-7% GoM $17.5+ $17.5+ $17+ Active Safety High Voltage KUM High Voltage 4-6% Winchester Active Safety GoM $15+ $14.6 $12.9 2017 2020T 2022T Pr
Slide 97: 2022 Operating Income Update
2022 Operating Income Update STRONGER REVENUE GROWTH PARTIALLY OFFSETTING FX/COMM AND INVESTMENT FOR GROWTH OPERATING INCOME OPERATING INCOME DRIVERS Adjusted Operating Income ($B), Margin % Adjusted Operating Income ($B), Margin % 6-8% 8-10% CAGR CAGR 9-11% 30-50 Bps / Yr 8-10% +230 bps Mobility In
Slide 98: Advanced Safety & User Experience | Brain
Advanced Safety & User Experience | Brain DEEP EXPERTISE IN SOFTWARE AND CENTRALIZED COMPUTING PLATFORMS UNLOCKING NEXT GENERATION FUNCTIONALITY ADVANCED SAFETY & CENTRAL COMPUTE AND SOFTWARE LONG TERM TARGETS USER EXPERIENCE CAPABILITIES ENABLING ADVANCED Sales ($ billions), Op Margin2 2019E Revenu
Slide 99: AS&UX Product Lines
AS&UX Product Lines DRIVING PROFITABLE GROWTH THROUGH INDUSTRY-LEADING INNOVATION ACTIVE SAFETY USER EXPERIENCE CONNECTIVITY & MOBILITY & SERVICES SECURITY • Software and compute platforms • Data acquisition, edge processing • Cockpit compute platforms • Access, security, comfort • Sensing and perce
Slide 100: Signal & Power Solutions | Nervous System
Signal & Power Solutions | Nervous System GLOBAL LEADER IN NEXT GENERATION ARCHITECTURES; LEVERAGING EXPERTISE IN HARSH ENVIRONMENT ELECTRONICS TO EXPAND IN ADJACENT MARKETS SIGNAL & POWER EXPANDING LEADERSHIP POSITION LONG TERM TARGETS SOLUTIONS IN AUTOMOTIVE GRADE Sales ($ billions), Op Margin2 20
Slide 101: S&PS Product Lines
S&PS Product Lines GLOBAL LEADER IN COMPLEX SYSTEMS AND ADVANCED TECHNOLOGY SOLUTIONS ELEC DISTRIBUTION SYSTEMS ENGINEERED COMPONENTS HIGH VOLTAGE ELECTRIFICATION2 • Power wiring and data cables • Connectors and terminals • High power/voltage connectors • High voltage distribution • Cable management
Slide 102: Sustainable by Design
Sustainable by Design FINANCIAL FRAMEWORK ALIGNED WITH STRATEGY AND VISION REVENUE DIVERSIFICATION MORE SUSTAINABLE BUSINESS Disciplined revenue growth with balanced customer, region and end market mix INDUSTRY LEADING GROWTH PORTFOLIO Robust new business wins validating our relevant portfolio of ad
Slide 103: Revenue Diversification
Revenue Diversification DISCIPLINED REVENUE GROWTH CREATING CUSTOMER, END MARKET AND REGION DIVERSIFCATION CUSTOMER END MARKET % of Revenue, 2019E % of Revenue, 2019E CV & Industrial Asia SUV / Truck Other Americas Pass Car VW Europe SUV / Truck Europe Pass Car GM Renault / Nissan Toyota Daimler FCA
Slide 104: Industry Leading Growth Portfolio
Industry Leading Growth Portfolio NEW BUSINESS AWARDS IN ACTIVE SAFETY AND ELECTRIFICATION EXCEED PRIOR EXPECTATIONS BOOKINGS Lifetime gross program revenues, $ billions ADVANCED SAFETY ACTIVE USER SAFETY EXPERIENCE & USER EXPERIENCE $22.0 $18.9 $19.3 $ 21.0B SINCE 20161 $ 9.6B SINCE 20161 $ 7.5B SI
Slide 105: Improving Cost Structure
Improving Cost Structure SUSTAINING A FLEXIBLE BUSINESS MODEL AND GROWING MARGIN WHILE FUNDING INVESTMENTS FOR FUTURE GROWTH INCOME DRIVERS FLEXIBLE AND % of Sales SUSTAINABLE COST STRUCTURE SUSTAINABILITY Flexible and scalable cost structure BUSINESS 49.7% 47.6% MATERIAL MODEL… OVERHEAD REDUCTION B
Slide 106: Investments for Growth
Investments for Growth INVESTING IN THE FUTURE TO DELIVER NEXT GENERATION TECHNOLOGY ENGINEERING INVESTMENTS CAPITAL EXPENDITURES Net, $ Millions, % of Total Revenue 8% $ Millions, % of Total Revenue …ALLOWS US TO Of Sales CONTINUE INVESTING 1% 5% IN FUTURE GROWTH 5% Of Sales 8% Of Sales Of Sales NE
Slide 107: Balanced Capital Deployment
Balanced Capital Deployment FOCUSED ON VALUE ENHANCING ORGANIC AND INORGANIC INVESTMENT OPPORTUNITIES OPERATING CASH FLOW Long Term Capital Allocation Priorities4 $ Billions, Free Cash Flow Conversion1 M&A AND SHARE REPURCHASES ~10% 45%-55% DRIVING GROWTH CAGR2 $2.2-2.4 • Organic reinvestment to sup
Slide 108: Expanding Addressable Markets
Expanding Addressable Markets LEVERAGING OUR STRENGTHS TO UNLOCK INCREMENTAL ADDRESSABLE MARKET OPPORTUNITIES BY 2025 Total Addressable Market ($ Billions) Today $37 $17 $17 $12 $5 $13 $100B+ $50 $30 $24 $20 $16 $13 $20 $20 $10 2025 ELECTRIAL DISTRIBUTION SYSTEMS ENGINEERED COMPONENTS INFO & USER EX
Slide 109: Diversification Strategy
Diversification Strategy EXPANSION IN END MARKETS NOT TIED TO LIGHT VEHICLE PRODUCTION PATH TO 25% BY 2025 END MARKET REVENUE Revenue ($ Billions), % of Total Sales ACCRETIVE BOLT-ONS ~25% Winchester provides a platform for further non-auto expansion, leveraging a strong management team and channel
Slide 110: Expanding Industrial Markets
Expanding Industrial Markets LEVERAGING OUR AUTOMOTIVE GRADE CORE CAPABILITIES IN INDUSTRIAL AND CV END MARKETS SAME MEGA TRENDS SAME DESIGN COMPETENCIES DIFFERENT PATHS TO MARKET Total Addressable Connectors Market ($Billions) SAFETY Increasing demand for safety ! MISSION CRITICAL Required solution
Slide 111: Aptiv 2025 Vision
Aptiv 2025 Vision …025 VISION THE LOGICAL EXTENSION OF OUR STRATEGY, COMPETITIVE POSITION AND 2 END MARKET TRENDS; MAKING IT REAL THROUGH THE EXECUTION OF OUR TEAMS APTIV TARGETS Sales ($ billions) ADVANCED SAFETY & SIGNAL & POWER M&A + USER EXPERIENCE SOLUTIONS Upside ~$22 FUTURE PLATFORMS EMERGE 2
Slide 112: Aptiv Investment Thesis
Aptiv Investment Thesis GROWING FASTER, WITH EQUIVALENT MARGINS BUT A LOWER MULTIPLE BASED SIGNIFICANT UPSIDE AND CASH FLOW ON LEGACY PERCEPTIONS REVENUE GROWTH GROSS MARGINS P/E MULTIPLE 2015 - 2018 CAGR 2018 NTM as of April 30, 2019 17% 54% 29x 10% 35% 15x 19x 5% 7% 24% 17% 11x APTV Autos Industri
Slide 113: Summary
Summary APTIV AT THE INTERSECTION OF KEY SECULAR TRENDS, WHILE STRUCTURALLY IMPROVING THROUGH CYCLE RESILIENCY PORTFOLIO PERFECTLY POSITIONED • Well positioned to Auto 2.0 mega-trends, Safe, Green, and Connected, increasing addressable content • Increasing scale and diversification outside tradition
Slide 114: Summary
June 4, 2019 Kevin Clark President and Chief Executive Officer SUMMARY 2019 Investor Conference
Slide 115: Ownership Mindset
Ownership Mindset STRATEGY, PORTFOLIO AND RIGOROUS FOCUS ON EXECUTION MAKE APTIV A MORE SUSTAINABLE BUSINESS, AND CREATES EXCEPTIONAL VALUE FOR INVESTORS STRATEGY of accelerating growth in current and future platforms, while optimizing global execution capabilities drives increasing value for stakeh
Slide 116: Aptiv:
“APTIV:
Slide 117: Non-US GAAP Financial Metrics
Non-US GAAP Financial Metrics ($ millions) 2018 2017 2016 2015 Net income attributable to Aptiv 1,067 1,355 1,257 1,450 Interest expense 141 140 155 124 Other (income) expense, net (2) 21 384 114 Income tax expense 250 223 167 161 Equity income, net of tax (23) (31) (35) (16) Income from discontinue
Slide 118: Non-US GAAP Financial Metrics
Non-US GAAP Financial Metrics ($ millions) 2018 2017 2016 2015 Net income attributable to Aptiv 1,067 1,355 1,257 1,450 Interest expense 141 140 155 124 Other (income) expense, net (2) 21 384 114 Income tax expense 250 223 167 161 Equity income, net of tax (23) (31) (35) (16) Income from discontinue
Slide 119: Non-US GAAP Financial Metrics
Non-US GAAP Financial Metrics ($ millions, except per share amounts) 2018 2017 2016 2015 Net income attributable to Aptiv 1,067 1,355 1,257 1,450 Income from discontinued operations attributable to Aptiv, net of tax - (334) (423) (637) Income from continuing operations attributable to Aptiv 1,067 1,
Slide 120: Financial Guidance Metrics
Financial Guidance Metrics ($ millions) 20191 Net income attributable to Aptiv 1,128 Interest expense 156 Other income, net (32) Income tax expense 195 Equity income, net of tax (21) Net income attributable to noncontrolling interest 40 Operating income 1,466 Restructuring 126 Other acquisition and
Slide 121: Financial Guidance Metrics
Financial Guidance Metrics ($ millions) 20191 Net income attributable to Aptiv 1,128 Interest expense 156 Other income, net (32) Income tax expense 195 Equity income, net of tax (21) Net income attributable to noncontrolling interest 40 Operating income 1,466 Depreciation and amortization 725 EBITDA
Slide 122: Financial Guidance Metrics
Financial Guidance Metrics ($ millions, except per share amounts) 20191 Net income attributable to Aptiv 1,128 Restructuring 126 Other acquisition and portfolio project costs 35 Deferred compensation related to nuTonomy acquisition 43 Debt extinguishment costs 6 Gain on changes in fair value of equi
Slide 123: Aptiv:
“APTIV: