XML 42 R30.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

20. Segment Information

The Company has a single operating and reportable segment which includes Autoliv’s airbag and steering wheels and seatbelt products and components. The determination of a single operating segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”).

The Company’s CEO, as the CODM, uses consolidated, single-segment financial information for purposes of evaluating performance, making operating decisions and allocating resources.

The Company’s customers consist of all major European, U.S. and Asian automobile manufacturers. Sales to individual customers representing 10% or more of net sales were:

In 2024: No individual customer representing 10% or more.

In 2023: Renault 10% (including Nissan and Mitsubishi) and Stellantis 10%.

In 2022: Renault 11% (including Nissan and Mitsubishi), Stellantis 11% and VW 10%.

 

NET SALES BY REGION (Dollars in millions)

 

2024

 

 

2023

 

 

2022

 

China

 

$

2,010

 

 

$

2,105

 

 

$

1,883

 

Asia, excl. China

 

 

2,010

 

 

 

1,968

 

 

 

1,638

 

Americas

 

 

3,424

 

 

 

3,526

 

 

 

2,967

 

Europe

 

 

2,946

 

 

 

2,877

 

 

 

2,355

 

Total

 

$

10,390

 

 

$

10,475

 

 

$

8,842

 

 

The Company has attributed net sales to the geographic area based on the location of the entity selling the final product.

External sales in the U.S. amounted to $2,075 million, $2,342 million and $2,029 million in 2024, 2023 and 2022, respectively. Of the external sales, exports from the U.S. to other regions amounted to approximately $292 million, $343 million and $298 million in 2024, 2023 and 2022, respectively.

 

NET SALES BY PRODUCT (Dollars in millions)

 

2024

 

 

2023

 

 

2022

 

Airbag, Steering Wheels1)

 

$

7,023

 

 

$

7,055

 

 

$

5,807

 

Seatbelt Products1)

 

 

3,367

 

 

 

3,420

 

 

 

3,035

 

Total net sales

 

$

10,390

 

 

$

10,475

 

 

$

8,842

 

1) Including Corporate and Other sales.

 

LONG-LIVED ASSETS (Dollars in millions)

 

2024

 

 

2023

 

China

 

$

621

 

 

$

592

 

Asia, excl China

 

 

438

 

 

 

408

 

Americas

 

 

541

 

 

 

570

 

Europe

 

 

797

 

 

 

797

 

Total

 

$

2,397

 

 

$

2,367

 

 

Long -lived assets in the table above consists of Property, Plant and Equipment and Operating Lease right-of-use asset. Long-lived assets in the U.S. amounted to $272 million and $261 million for 2024 and 2023, respectively.

 

The CODM assesses the Company's performance and decides how to allocate resources based on consolidated net income (loss) in the Consolidated Statements of Income, which is assessed to be the segment measure of profit or loss. This measure is used to monitor actual results to evaluate the performance of the segment versus the strategic targets. The segment assets are equal to the assets presented in the Consolidated Balance Sheets.

 

The significant expenses that are regularly provided to the CODM are disclosed in the Consolidated Statements of Net Income as a part of the consolidated net income and are as follows.

 

Significant segment expenses / income (Dollars in millions)

 

2024

 

 

2023

 

 

2022

 

Total direct costs

 

$

(7,050

)

 

$

(7,208

)

 

$

(6,142

)

Total production overhead costs

 

 

(1,413

)

 

 

(1,446

)

 

 

(1,304

)

Cost of sales

 

 

(8,463

)

 

 

(8,654

)

 

 

(7,446

)

 

 

 

 

 

 

 

 

 

 

Research, development and engineering expenses (gross)

 

 

(612

)

 

 

(618

)

 

 

(595

)

Engineering income

 

 

214

 

 

 

193

 

 

 

205

 

Research, development and engineering expenses, net

 

 

(398

)

 

 

(425

)

 

 

(390

)

 

Our other significant segment items that are regularly provided to the CODM include selling, general and administrative expenses, and other income (expense) which are disclosed as separate line items in the Consolidated Statements of Income. Other expenses consist of Income from equity method investments, Interest income, Interest expense, Other non-operating items, net and Income taxes, which are disclosed as separate line items in the Consolidated Statement of income.