v2.4.0.8

Segment Reporting | 6 Months Ended
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Jun. 30, 2014
Segment Reporting [Abstract] |
Segment Reporting Disclosure | SEGMENT REPORTING Delphi operates its core business along the following operating segments, which are grouped on the basis of similar product, market and operating factors:
• | Electrical/Electronic Architecture, which includes complete electrical architecture and component products.
• | Powertrain Systems, which includes extensive systems integration expertise in gasoline, diesel and fuel handling and full end-to-end systems including fuel and air injection, combustion, electronics controls, exhaust handling, test and validation capabilities, aftermarket, and original equipment service.
• | Electronics and Safety, which includes component and systems integration expertise in infotainment and connectivity, body controls and security systems, displays, mechatronics, passive and active safety electronics and electric and hybrid electric vehicle power electronics, as well as advanced development of software.
• | Thermal Systems, which includes heating, ventilating and air conditioning (“HVAC”) systems, components for multiple transportation and other adjacent markets, and powertrain cooling and related technologies.
• | Eliminations and Other, which includes i) the elimination of inter-segment transactions, and ii) certain other expenses and income of a non-operating or strategic nature.
The accounting policies of the segments are the same as those described in Note 2. Significant Accounting Policies, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for the purposes of assisting internal operating decisions. Generally, Delphi evaluates performance based on stand-alone segment net income before interest expense, other income (expense), net, income tax expense, restructuring, other acquisition-related costs, asset impairments and equity income (loss), net of tax (“Adjusted Operating Income”) and accounts for inter-segment sales and transfers as if the sales or transfers were to third parties, at current market prices. Through December 31, 2013, the Company’s management believed that net income before depreciation and amortization (including long-lived asset and goodwill impairment), interest expense, other income (expense), net, income tax expense, equity income (loss), net of tax, restructuring and other acquisition-related costs (“Adjusted EBITDA”) was a meaningful measure of performance and it was used by management to analyze Company and stand-alone segment operating performance. Management also used Adjusted EBITDA for planning and forecasting purposes. Effective January 1, 2014, Delphi’s management began utilizing Adjusted Operating Income as the key performance measure of segment income or loss and for planning and forecasting purposes, as management believes this measure is most reflective of the operational profitability or loss of Delphi's operating segments. Segment Adjusted Operating Income should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered an alternative to net income attributable to Delphi, which is the most directly comparable financial measure to Adjusted Operating Income that is in accordance with U.S. GAAP. Segment Adjusted Operating Income, as determined and measured by Delphi, should also not be compared to similarly titled measures reported by other companies. Included below are sales and operating data for Delphi’s segments for the three and six months ended June 30, 2014 and 2013.
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other (1) |  | Total
|  | (in millions)
For the Three Months Ended June 30, 2014: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,165 |  |  | $ | 1,198 |  |  | $ | 753 |  |  | $ | 397 |  |  | $ | (62 | ) |  | $ | 4,451 |
Depreciation and amortization |  | $ | 65 |  |  | $ | 48 |  |  | $ | 21 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 146 |
Adjusted operating income |  | $ | 298 |  |  | $ | 142 |  |  | $ | 89 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 547 |
Operating income |  | $ | 283 |  |  | $ | 105 |  |  | $ | 84 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 488 |
Equity income (loss) |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | (1 | ) |  | $ | 10 |
Net income attributable to noncontrolling interest |  | $ | 10 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | 24 |
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other (1) |  | Total
|  | (in millions)
For the Three Months Ended June 30, 2013: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,044 |  |  | $ | 1,161 |  |  | $ | 725 |  |  | $ | 373 |  |  | $ | (63 | ) |  | $ | 4,240 |
Depreciation and amortization |  | $ | 59 |  |  | $ | 44 |  |  | $ | 18 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 132 |
Adjusted operating income |  | $ | 266 |  |  | $ | 146 |  |  | $ | 89 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 513 |
Operating income |  | $ | 254 |  |  | $ | 142 |  |  | $ | 75 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 483 |
Equity income (loss) |  | $ | 4 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 10 |
Net income attributable to noncontrolling interest |  | $ | 10 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 22 |
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other (1) |  | Total
|  | (in millions)
For the Six Months Ended June 30, 2014: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 4,276 |  |  | $ | 2,302 |  |  | $ | 1,483 |  |  | $ | 786 |  |  | $ | (120 | ) |  | $ | 8,727 |
Depreciation and amortization |  | $ | 129 |  |  | $ | 99 |  |  | $ | 40 |  |  | $ | 23 |  |  | $ | — |  |  | $ | 291 |
Adjusted operating income |  | $ | 571 |  |  | $ | 257 |  |  | $ | 172 |  |  | $ | 30 |  |  | $ | — |  |  | $ | 1,030 |
Operating income |  | $ | 541 |  |  | $ | 218 |  |  | $ | 161 |  |  | $ | 27 |  |  | $ | — |  |  | $ | 947 |
Equity income (loss) |  | $ | 10 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 9 |  |  | $ | (3 | ) |  | $ | 18 |
Net income attributable to noncontrolling interest |  | $ | 17 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | $ | 45 |
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other (1) |  | Total
|  | (in millions)
For the Six Months Ended June 30, 2013: |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,965 |  |  | $ | 2,268 |  |  | $ | 1,418 |  |  | $ | 733 |  |  | $ | (120 | ) |  | $ | 8,264 |
Depreciation and amortization |  | $ | 113 |  |  | $ | 92 |  |  | $ | 36 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 263 |
Adjusted operating income |  | $ | 497 |  |  | $ | 260 |  |  | $ | 161 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 944 |
Operating income |  | $ | 472 |  |  | $ | 248 |  |  | $ | 136 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 880 |
Equity income (loss) |  | $ | 7 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | 18 |
Net income attributable to noncontrolling interest |  | $ | 20 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | 44 |
(1) | Eliminations and Other includes the elimination of inter-segment transactions.
The reconciliation of Adjusted Operating Income to Operating Income includes restructuring, other acquisition-related costs and asset impairments. The reconciliation of Adjusted Operating Income to net income attributable to Delphi for the three and six months ended June 30, 2014 and 2013 are as follows:
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other |  | Total
|  | (in millions)
For the Three Months Ended June 30, 2014: |  |  |  |  |  |  |  |  |  |
Adjusted operating income |  | $ | 298 |  |  | $ | 142 |  |  | $ | 89 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 547 |
Restructuring |  | (13 | ) |  | (37 | ) |  | (3 | ) |  | (2 | ) |  | — |  |  | (55 | )
Other acquisition-related costs |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1 | )
Asset impairments |  | (1 | ) |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | (3 | )
Operating income |  | $ | 283 |  |  | $ | 105 |  |  | $ | 84 |  |  | $ | 16 |  |  | $ | — |  |  | 488 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (33 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  | 3 |
Income before income taxes and equity income |  |  |  |  |  |  |  |  |  |  |  | 458 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (62 | )
Equity income, net of tax |  |  |  |  |  |  |  |  |  |  |  | 10 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 406 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 24 |
Net income attributable to Delphi |  |  |  |  |  |  |  |  |  |  |  | $ | 382 |
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other |  | Total
|  | (in millions)
For the Three Months Ended June 30, 2013: |  |  |  |  |  |  |  |  |  |
Adjusted operating income |  | $ | 266 |  |  | $ | 146 |  |  | $ | 89 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 513 |
Restructuring |  | (8 | ) |  | (4 | ) |  | (14 | ) |  | — |  |  | — |  |  | (26 | )
Other acquisition-related costs |  | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | )
Operating income |  | $ | 254 |  |  | $ | 142 |  |  | $ | 75 |  |  | $ | 12 |  |  | $ | — |  |  | 483 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (36 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  | 5 |
Income before income taxes and equity income |  |  |  |  |  |  |  |  |  |  |  | 452 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (73 | )
Equity income, net of tax |  |  |  |  |  |  |  |  |  |  |  | 10 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 389 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 22 |
Net income attributable to Delphi |  |  |  |  |  |  |  |  |  |  |  | $ | 367 |
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other |  | Total
|  | (in millions)
For the Six Months Ended June 30, 2014: |  |  |  |  |  |  |  |  |  |
Adjusted operating income |  | $ | 571 |  |  | $ | 257 |  |  | $ | 172 |  |  | $ | 30 |  |  | $ | — |  |  | $ | 1,030 |
Restructuring |  | (26 | ) |  | (39 | ) |  | (9 | ) |  | (3 | ) |  | — |  |  | (77 | )
Other acquisition-related costs |  | (3 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (3 | )
Asset impairments |  | (1 | ) |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | (3 | )
Operating income |  | $ | 541 |  |  | $ | 218 |  |  | $ | 161 |  |  | $ | 27 |  |  | $ | — |  |  | 947 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (68 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  | (13 | )
Income before income taxes and equity income |  |  |  |  |  |  |  |  |  |  |  | 866 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (137 | )
Equity income, net of tax |  |  |  |  |  |  |  |  |  |  |  | 18 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 747 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 45 |
Net income attributable to Delphi |  |  |  |  |  |  |  |  |  |  |  | $ | 702 |
|  | Electrical/ Electronic Architecture |  | Powertrain Systems |  | Electronics and Safety |  | Thermal Systems |  | Eliminations and Other |  | Total
|  | (in millions)
For the Six Months Ended June 30, 2013: |  |  |  |  |  |  |  |  |  |
Adjusted operating income |  | $ | 497 |  |  | $ | 260 |  |  | $ | 161 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 944 |
Restructuring |  | (19 | ) |  | (12 | ) |  | (25 | ) |  | (2 | ) |  | — |  |  | (58 | )
Other acquisition-related costs |  | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | )
Operating income |  | $ | 472 |  |  | $ | 248 |  |  | $ | 136 |  |  | $ | 24 |  |  | $ | — |  |  | 880 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (72 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  | (29 | )
Income before income taxes and equity income |  |  |  |  |  |  |  |  |  |  |  | 779 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (110 | )
Equity income, net of tax |  |  |  |  |  |  |  |  |  |  |  | 18 |
Net income |  |  |  |  |  |  |  |  |  |  |  | 687 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  | 44 |
Net income attributable to Delphi |  |  |  |  |  |  |  |  |  |  |  | $ | 643 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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