Other Investments

[Table of Contents](#i5ec3aabfaa534f9c8fa2d2a5b7677d19_7)  
Following each of the transactions described above, the fair value of each respective investment is measured on a recurring basis, with changes in fair value recorded to other income (expense), net.On November 9, 2021, Aptiv acquired 100% of the equity interests of Krono-Safe Automotive, SAS (“Krono-Safe Automotive”), a leading software developer of safety-critical real-time embedded systems, for total consideration of $13 million, which was comprised of Aptiv’s previous investment of $6 million in Krono-Safe, SAS and $7 million of cash. The Company’s Advanced Safety and User Experience segment had previously made a $6 million investment in Krono-Safe, SAS during 2019. Refer to Note 20. Acquisitions and Divestitures for additional information on this transaction.In December 2021, Aptiv agreed to invest €200 million in TTTech Auto AG, a leading provider of safety-critical middleware solutions for advanced driver-assistance systems and autonomous driving applications, in exchange for an approximate 20% equity share in the business. The investment is subject to the satisfaction of customary closing conditions and the receipt of regulatory and other approvals, and is expected to close during the first quarter of 2022. The Company expects to make this investment utilizing cash on hand.During the year ended December 31, 2021, the Company’s investment in LeddarTech, Inc., was remeasured to a fair value of $19 million, based on a subsequent round of financing observed for identical or similar investments of the same issuer. As a result, the Company recorded a pre-tax unrealized gain of $9 million to other income, net during the year ended December 31, 2021. During the year ended December 31, 2020, the Company’s investment in Innoviz, while being classified as an equity investment without readily determinable fair value, was remeasured to a fair value of $25 million, based on a subsequent round of financing observed for identical or similar investments of the same issuer. As a result, the Company recorded a pre-tax unrealized gain of $10 million to other income, net during the year ended December 31, 2020. During the year ended December 31, 2019, the Company’s investment in Otonomo, while being classified as an equity investment without readily determinable fair value, was remeasured to a fair value of $37 million, based on a subsequent round of financing observed 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 without readily determinable fair value. 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.  
6. PROPERTY, NETProperty, net consisted of:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Estimated UsefulLives |  | December 31, |
|   | 2021 |  | 2020 |
|   | (Years) |  | (in millions) |
| Land | — |  | $ | 82  |  |  | $ | 85  |  |
| Land and leasehold improvements | 3-20 |  | 186  |  |  | 171  |  |
| Buildings | 40 |  | 679  |  |  | 691  |  |
| Machinery, equipment and tooling | 3-20 |  | 4,899  |  |  | 4,677  |  |
| Furniture and office equipment | 3-10 |  | 802  |  |  | 724  |  |
| Construction in progress | — |  | 365  |  |  | 263  |  |
| Total |  |  | 7,013  |  |  | 6,611  |  |
| Less: accumulated depreciation |  |  | (3,719) |  |  | (3,310) |  |
| Total property, net |  |  | $ | 3,294  |  |  | $ | 3,301  |  |

For the years ended December 31, 2021, 2020 and 2019, Aptiv recorded non-cash asset impairment charges of $2 million, $10 million and $3 million, respectively, in cost of sales related to declines in the fair values of certain fixed assets.As of December 31, 2021, 2020 and 2019, capital expenditures recorded in accounts payable totaled $280 million, $164 million and $247 million, respectively.  
79
