Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Entity Registrant Name | AUTOLIV, INC. |
Entity Central Index Key | 0001034670 |
Amendment Flag | false |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Pay vs Performance Disclosure [Table] | ||||
Pay vs Performance [Table Text Block] | (3) (4) Year SCT Total (1) Compensation (5) Average (1)(2) Average (5) Value of initial Net Adjusted (4) Autoliv Peer (3) 2022 $2,857,991 $1,312,652 $1,201,076 $ 789,617 $ 96 $101 $425M $598M 2021 $3,237,849 $3,361,904 $1,255,520 $1,273,514 $126 $139 $437M $683M 2020 $3,038,388 $3,729,091 $1,628,759 $1,568,066 $110 $116 $188M $482M | |||
Peer Group Issuers, Footnote [Text Block] | Represents peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group selected for purposes of this table is the Dow Jones U.S. Auto Parts Index, which is the industry peer group used in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (see notes below for further details). | |||
PEO Total Compensation Amount | [1] | $ 2,857,991 | $ 3,237,849 | $ 3,038,388 |
PEO Actually Paid Compensation Amount | [2] | 1,312,652 | 3,361,904 | 3,729,091 |
Non-PEO NEO Average Total Compensation Amount | [1],[3] | 1,201,076 | 1,255,520 | 1,628,759 |
Non-PEO NEO Average Compensation Actually Paid Amount | [2] | $ 789,617 | 1,273,514 | 1,568,066 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | The Non-PEO NEOs reflected in the above table are the NEOs for each covered year as follows: 2020: Fredrik Westin, Christian Hanke, Frithjof Oldorff, Jordi Lombarte and Brad Murray; 2021: Fredrik Westin, Colin Naughton, Kevin Fox and Jennifer Cheng; and 2022: Fredrik Westin, Sng Yih, Frithjof Oldorff, and Anthony Nellis. | |||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | CAP VS. COMPANY TSR The following chart shows the correlation between CAP to our PEO and average CAP to our non-PEO NEOs in comparison to Autoliv’s cumulative TSR. CAP to the PEO and average CAP to our Non-PEO NEOs have trailed the TSR performance for the following reasons: ■ A significant part of our compensation structure is stock-based. The factors leading to a drop in TSR in 2022 also significantly affected CAP. ■ Additional factors related to performance projections in volatile market environments across years and payment currencies led to CAP dropping faster than TSR during the reported years. | |||
Compensation Actually Paid vs. Net Income [Text Block] | CAP VS. NET INCOME and ADJUSTED OPERATING INCOME The following chart shows the correlation between CAP to our PEO and average CAP to our non-PEO NEOs in comparison to Autoliv’s Net Income and Adjusted Operating Income. ■ CAP to the PEO and average CAP to the non-PEO NEOs have been significantly behind the Net Income and Adjusted Operating Income performance. ■ Adjusted Operating Income represents 50% of the performance criteria of our non-equity incentive program while Earnings per Share, which is directly linked to our Net Income, represents 60% of the performance criteria related to our PSUs. Autoliv’s performance in both performance measures significantly affected the CAP levels. | |||
Total Shareholder Return Vs Peer Group [Text Block] | AUTOLIV TSR VS. PEER GROUP TSR The following chart shows Autoliv’s cumulative TSR in comparison to the cumulative TSR of our selected peer group. The peer group selected for purposes of this disclosure is the Dow Jones U.S. Auto Parts Index (DJUSA-DJX), which is float market capitalization-weighted and aims to provide 95% market capitalization coverage of U.S.-traded stocks for the Auto Parts Subsection (3355). The companies included in the index are Tier 1 and Tier 2 suppliers of non-safety products to the automotive industry and are producers of very different offerings such as drivetrains, electronic and technology systems, fuel systems and many have after-market businesses. This index includes some companies included in our compensation benchmarking for our U.S. based executives. | |||
Tabular List [Table Text Block] | TABULAR DISCLOSURE OF MOST IMPORTANT MEASURES LINKING CAP DURING 2022 TO COMPANY PERFORMANCE Adjusted Operating Income Relative Organic Sales Growth Adjusted Cash Conversion Greenhouse Gas Emissions Adjusted Earnings Per Share (EPS) ■ EPS, Relative Organic Sales Growth (Autoliv’s sales in relation to Light Vehicle Production Growth) and Greenhouse Gas Emissions were the selected metrics for our PSU awards in 2022 and 2023. In addition, Autoliv’s annual short- term incentive program has been based on performance related to Adjusted Operating Income and Adjusted Cash Conversion for several years. ■ Adjusted Cash Conversion converts profit into cash, allowing the company to reduce risk, support growth and strengthen the balance sheet. Availability of cash and a good liquidity allows the company to invest for the future and is vital for Autoliv to remain competitive and operate in a sustainably and efficient way. ■ Adjusted Operating Income is the general result of revenues minus costs related to the company’s operations. Adjusted Operating Income and Adjusted EPS are two critical KPIs for the company’s long-term success and for Autoliv to be able to provide value to its shareholders. Organic Sales Growth also support this by increasing the top line and creating opportunity for increased profits. ■ The reduction of Greenhouse Gas Emissions supports the company’s long-term sustainability agenda and is critical for Autoliv to remain relevant and to deliver on the company’s overall vision of Saving More Lives. | |||
Total Shareholder Return Amount | $ 96 | 126 | 110 | |
Peer Group Total Shareholder Return Amount | [4] | 101 | 139 | 116 |
Net Income (Loss) | $ 425,000,000 | $ 437,000,000 | $ 188,000,000 | |
Company Selected Measure Amount | [5] | 598,000,000 | 683,000,000 | 482,000,000 |
Measure [Axis]: 1 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Adjusted Operating Income | |||
Measure [Axis]: 2 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Relative Organic Sales Growth | |||
Measure [Axis]: 3 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Adjusted Cash Conversion | |||
Measure [Axis]: 4 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Greenhouse Gas Emissions | |||
Measure [Axis]: 5 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Adjusted Earnings Per Share (EPS) | |||
PEO [Member] | Deductions from SCT Total | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | [6] | $ 570,351 | $ 280,599 | $ 663,616 |
PEO [Member] | Additions to SCT Total | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | [7] | 974,988 | 404,654 | 1,354,319 |
Non-PEO NEO [Member] | Average SCT Total Compensation | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 1,201,076 | 1,255,520 | 1,628,759 | |
Non-PEO NEO [Member] | Deductions From S C T Average Value Of Equity Awards [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 292,137 | 110,006 | 245,683 | |
Non-PEO NEO [Member] | Deductions from Average SCT Total | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | [8] | 0 | 37,820 | 59,020 |
Non-PEO NEO [Member] | Additions to Average SCT Total | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | [9] | $ 119,321 | $ 161,420 | $ 231,410 |
[1]The “SCT Total Compensation” figures provided in the table above for 2020 and 2021 do not match the total compensation figures provided in the SCT of this proxy statement. In the SCT table provided on page 60, we have converted the compensation paid in prior years by the same exchange rate we applied for 2022 in order to facilitate comparison across years as described in the footnotes to the table. Instead, the compensation figures in the table above are directly taken from each year’s respective proxy statement and reflects the actual USD compensation paid to make comparison of pay versus performance more meaningful.[2]The dollar amounts reported as CAP to the PEO and the Non-PEO NEOs, respectively, are computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO or the Non-PEO NEOs, respectively, during the applicable year. In calculating the CAP, the following amounts were deducted from and added to the SCT total compensation:[3] The Non-PEO NEOs reflected in the above table are the NEOs for each covered year as follows: 2020: Fredrik Westin, Christian Hanke, Frithjof Oldorff, Jordi Lombarte and Brad Murray; 2021: Fredrik Westin, Colin Naughton, Kevin Fox and Jennifer Cheng; and 2022: Fredrik Westin, Sng Yih, Frithjof Oldorff, and Anthony Nellis. Represents peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group selected for purposes of this table is the Dow Jones U.S. Auto Parts Index, which is the industry peer group used in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (see notes below for further details). |