v2.4.0.8

Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements | 9 Months Ended
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Sep. 30, 2014
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements [Abstract] |
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements | SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Basis of Presentation In May 2011, Delphi Corporation issued the 2011 Senior Notes in a transaction exempt from registration under Rule 144A and Regulation S of the Securities Act. The 2011 Senior Notes were exchanged for registered notes in an exchange offer completed in May 2012, and as more fully described in Note 8. Debt, the 5.875% Senior Notes were redeemed and extinguished in March 2014. Additionally, in February 2013 and March 2014, Delphi Corporation issued senior notes registered under the Securities Act. All series of the outstanding senior notes have been issued by Delphi Corporation (the “Subsidiary Issuer”), a 100% owned subsidiary of Delphi Automotive PLC, and are fully and unconditionally guaranteed by certain of its direct and indirect parent companies, which are directly or indirectly 100% owned by Delphi Automotive PLC, (the “Parent Guarantors”) on a joint and several basis, subject to customary release provisions (other than in the case of Delphi Automotive PLC). All other consolidated direct and indirect subsidiaries of Delphi Automotive PLC are not subject to the guarantees (“Non-Guarantor Subsidiaries”). Prior to 2014, certain additional direct and indirect subsidiaries of Delphi Automotive PLC, which are directly or indirectly 100% owned by Delphi Automotive PLC, fully and unconditionally guaranteed all series of the outstanding senior notes. However, all such guarantees of Delphi Corporation's subsidiaries were released during the first quarter of 2014 because such guarantors no longer guaranteed the Credit Agreement. Refer to Note 8. Debt for more information. In lieu of providing separate audited financial statements for the Guarantors, the Company has included the accompanying condensed consolidating financial statements. These condensed consolidating financial statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiary’s cumulative results of operations, capital contributions and distributions and other equity changes. The Non-Guarantor Subsidiaries are combined in the condensed consolidating financial statements. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions. The historical presentation of certain intercompany accounts and activity within the supplemental guarantor condensed consolidating financial statements has been revised to be consistent with the presentation as of September 30, 2014. Statement of Operations Three Months Ended September 30, 2014
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net sales | $ | — |  |  | $ | — |  |  | $ | 4,144 |  |  | $ | — |  |  | $ | 4,144 |
Operating expenses: |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 3,388 |  |  | — |  |  | 3,388 |
Selling, general and administrative | 31 |  |  | — |  |  | 239 |  |  | — |  |  | 270 |
Amortization | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Restructuring | — |  |  | — |  |  | 47 |  |  | — |  |  | 47 |
Total operating expenses | 31 |  |  | — |  |  | 3,699 |  |  | — |  |  | 3,730 |
Operating (loss) income | (31 | ) |  | — |  |  | 445 |  |  | — |  |  | 414 |
Interest (expense) income | (13 | ) |  | (45 | ) |  | (17 | ) |  | 42 |  |  | (33 | )
Other income (expense), net | 15 |  |  | 17 |  |  | 15 |  |  | (42 | ) |  | 5 |
(Loss) income before income taxes and equity income | (29 | ) |  | (28 | ) |  | 443 |  |  | — |  |  | 386 |
Income tax benefit (expense) | 1 |  |  | 10 |  |  | (74 | ) |  | — |  |  | (63 | )
(Loss) income before equity income | (28 | ) |  | (18 | ) |  | 369 |  |  | — |  |  | 323 |
Equity in net income of affiliates | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Equity in net income (loss) of subsidiaries | 333 |  |  | 47 |  |  | — |  |  | (380 | ) |  | — |
Net income (loss) | 305 |  |  | 29 |  |  | 371 |  |  | (380 | ) |  | 325 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Net income (loss) attributable to Delphi | $ | 305 |  |  | $ | 29 |  |  | $ | 351 |  |  | $ | (380 | ) |  | $ | 305 |
Statement of Operations Nine Months Ended September 30, 2014
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net sales | $ | — |  |  | $ | — |  |  | $ | 12,871 |  |  | $ | — |  |  | $ | 12,871 |
Operating expenses: |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 10,507 |  |  | — |  |  | 10,507 |
Selling, general and administrative | 66 |  |  | — |  |  | 737 |  |  | — |  |  | 803 |
Amortization | — |  |  | — |  |  | 76 |  |  | — |  |  | 76 |
Restructuring | — |  |  | — |  |  | 124 |  |  | — |  |  | 124 |
Total operating expenses | 66 |  |  | — |  |  | 11,444 |  |  | — |  |  | 11,510 |
Operating (loss) income | (66 | ) |  | — |  |  | 1,427 |  |  | — |  |  | 1,361 |
Interest (expense) income | (34 | ) |  | (137 | ) |  | (53 | ) |  | 123 |  |  | (101 | )
Other income (expense), net | 45 |  |  | 14 |  |  | 56 |  |  | (123 | ) |  | (8 | )
(Loss) income before income taxes and equity income | (55 | ) |  | (123 | ) |  | 1,430 |  |  | — |  |  | 1,252 |
Income tax benefit (expense) | 1 |  |  | 45 |  |  | (246 | ) |  | — |  |  | (200 | )
(Loss) income before equity income | (54 | ) |  | (78 | ) |  | 1,184 |  |  | — |  |  | 1,052 |
Equity in net income of affiliates | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Equity in net income (loss) of subsidiaries | 1,061 |  |  | 189 |  |  | — |  |  | (1,250 | ) |  | — |
Net income (loss) | 1,007 |  |  | 111 |  |  | 1,204 |  |  | (1,250 | ) |  | 1,072 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 65 |  |  | — |  |  | 65 |
Net income (loss) attributable to Delphi | $ | 1,007 |  |  | $ | 111 |  |  | $ | 1,139 |  |  | $ | (1,250 | ) |  | $ | 1,007 |
Statement of Operations Three Months Ended September 30, 2013
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net sales | $ | — |  |  | $ | — |  |  | $ | 4,017 |  |  | $ | — |  |  | $ | 4,017 |
Operating expenses: |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 3,338 |  |  | — |  |  | 3,338 |
Selling, general and administrative | 41 |  |  | — |  |  | 187 |  |  | — |  |  | 228 |
Amortization | — |  |  | — |  |  | 27 |  |  | — |  |  | 27 |
Restructuring | — |  |  | — |  |  | 37 |  |  | — |  |  | 37 |
Total operating expenses | 41 |  |  | — |  |  | 3,589 |  |  | — |  |  | 3,630 |
Operating (loss) income | (41 | ) |  | — |  |  | 428 |  |  | — |  |  | 387 |
Interest (expense) income | (15 | ) |  | (47 | ) |  | (17 | ) |  | 45 |  |  | (34 | )
Other income (expense), net | 15 |  |  | 15 |  |  | 19 |  |  | (45 | ) |  | 4 |
(Loss) income before income taxes and equity income | (41 | ) |  | (32 | ) |  | 430 |  |  | — |  |  | 357 |
Income tax benefit (expense) | — |  |  | 12 |  |  | (84 | ) |  | — |  |  | (72 | )
(Loss) income before equity income | (41 | ) |  | (20 | ) |  | 346 |  |  | — |  |  | 285 |
Equity in net income of affiliates | — |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Equity in net income (loss) of subsidiaries | 312 |  |  | 74 |  |  | — |  |  | (386 | ) |  | — |
Net income (loss) | 271 |  |  | 54 |  |  | 354 |  |  | (386 | ) |  | 293 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 22 |  |  | — |  |  | 22 |
Net income (loss) attributable to Delphi | $ | 271 |  |  | $ | 54 |  |  | $ | 332 |  |  | $ | (386 | ) |  | $ | 271 |
Statement of Operations Nine Months Ended September 30, 2013
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net sales | $ | — |  |  | $ | — |  |  | $ | 12,281 |  |  | $ | — |  |  | $ | 12,281 |
Operating expenses: |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  | 10,141 |  |  | — |  |  | 10,141 |
Selling, general and administrative | 120 |  |  | — |  |  | 579 |  |  | — |  |  | 699 |
Amortization | — |  |  | — |  |  | 79 |  |  | — |  |  | 79 |
Restructuring | — |  |  | — |  |  | 95 |  |  | — |  |  | 95 |
Total operating expenses | 120 |  |  | — |  |  | 10,894 |  |  | — |  |  | 11,014 |
Operating (loss) income | (120 | ) |  | — |  |  | 1,387 |  |  | — |  |  | 1,267 |
Interest (expense) income | (41 | ) |  | (141 | ) |  | (54 | ) |  | 130 |  |  | (106 | )
Other income (expense), net | 45 |  |  | 9 |  |  | 51 |  |  | (130 | ) |  | (25 | )
(Loss) income before income taxes and equity income | (116 | ) |  | (132 | ) |  | 1,384 |  |  | — |  |  | 1,136 |
Income tax benefit (expense) | — |  |  | 49 |  |  | (231 | ) |  | — |  |  | (182 | )
(Loss) income before equity income | (116 | ) |  | (83 | ) |  | 1,153 |  |  | — |  |  | 954 |
Equity in net income of affiliates | — |  |  | — |  |  | 26 |  |  | — |  |  | 26 |
Equity in net income (loss) of subsidiaries | 1,030 |  |  | 252 |  |  | — |  |  | (1,282 | ) |  | — |
Net income (loss) | 914 |  |  | 169 |  |  | 1,179 |  |  | (1,282 | ) |  | 980 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 66 |  |  | — |  |  | 66 |
Net income (loss) attributable to Delphi | $ | 914 |  |  | $ | 169 |  |  | $ | 1,113 |  |  | $ | (1,282 | ) |  | $ | 914 |
Statement of Comprehensive Income Three Months Ended September 30, 2014
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net income (loss) | $ | 305 |  |  | $ | 29 |  |  | $ | 371 |  |  | $ | (380 | ) |  | $ | 325 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Currency translation adjustments | — |  |  | — |  |  | (179 | ) |  | — |  |  | (179 | )
Net change in unrecognized loss on derivative instruments, net of tax | — |  |  | — |  |  | (23 | ) |  | — |  |  | (23 | )
Employee benefit plans adjustment, net of tax | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
Other comprehensive loss | — |  |  | — |  |  | (190 | ) |  | — |  |  | (190 | )
Equity in other comprehensive (loss) income of subsidiaries | (187 | ) |  | (8 | ) |  | — |  |  | 195 |  |  | — |
Comprehensive income (loss) | 118 |  |  | 21 |  |  | 181 |  |  | (185 | ) |  | 135 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | 17 |  |  | — |  |  | 17 |
Comprehensive income (loss) attributable to Delphi | $ | 118 |  |  | $ | 21 |  |  | $ | 164 |  |  | $ | (185 | ) |  | $ | 118 |
Statement of Comprehensive Income Nine Months Ended September 30, 2014
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net income (loss) | $ | 1,007 |  |  | $ | 111 |  |  | $ | 1,204 |  |  | $ | (1,250 | ) |  | $ | 1,072 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Currency translation adjustments | — |  |  | — |  |  | (172 | ) |  | — |  |  | (172 | )
Net change in unrecognized loss on derivative instruments, net of tax | — |  |  | — |  |  | (16 | ) |  | — |  |  | (16 | )
Employee benefit plans adjustment, net of tax | — |  |  | — |  |  | 14 |  |  | — |  |  | 14 |
Other comprehensive loss | — |  |  | — |  |  | (174 | ) |  | — |  |  | (174 | )
Equity in other comprehensive (loss) income of subsidiaries | (169 | ) |  | 1 |  |  | — |  |  | 168 |  |  | — |
Comprehensive income (loss) | 838 |  |  | 112 |  |  | 1,030 |  |  | (1,082 | ) |  | 898 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | 60 |  |  | — |  |  | 60 |
Comprehensive income (loss) attributable to Delphi | $ | 838 |  |  | $ | 112 |  |  | $ | 970 |  |  | $ | (1,082 | ) |  | $ | 838 |
Statement of Comprehensive Income Three Months Ended September 30, 2013
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net income (loss) | $ | 271 |  |  | $ | 54 |  |  | $ | 354 |  |  | $ | (386 | ) |  | $ | 293 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Currency translation adjustments | — |  |  | — |  |  | 113 |  |  | — |  |  | 113 |
Net change in unrecognized gain on derivative instruments, net of tax | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Employee benefit plans adjustment, net of tax | — |  |  | — |  |  | (5 | ) |  | — |  |  | (5 | )
Other comprehensive income | — |  |  | — |  |  | 118 |  |  | — |  |  | 118 |
Equity in other comprehensive income (loss) of subsidiaries | 115 |  |  | 12 |  |  | — |  |  | (127 | ) |  | — |
Comprehensive income (loss) | 386 |  |  | 66 |  |  | 472 |  |  | (513 | ) |  | 411 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Comprehensive income (loss) attributable to Delphi | $ | 386 |  |  | $ | 66 |  |  | $ | 447 |  |  | $ | (513 | ) |  | $ | 386 |
Statement of Comprehensive Income Nine Months Ended September 30, 2013
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net income (loss) | $ | 914 |  |  | $ | 169 |  |  | $ | 1,179 |  |  | $ | (1,282 | ) |  | $ | 980 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Currency translation adjustments | — |  |  | — |  |  | (4 | ) |  | — |  |  | (4 | )
Net change in unrecognized loss on derivative instruments, net of tax | — |  |  | — |  |  | (29 | ) |  | — |  |  | (29 | )
Employee benefit plans adjustment, net of tax | — |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Other comprehensive loss | — |  |  | — |  |  | (22 | ) |  | — |  |  | (22 | )
Equity in other comprehensive (loss) income of subsidiaries | (25 | ) |  | (27 | ) |  | — |  |  | 52 |  |  | — |
Comprehensive income (loss) | 889 |  |  | 142 |  |  | 1,157 |  |  | (1,230 | ) |  | 958 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | 69 |  |  | — |  |  | 69 |
Comprehensive income (loss) attributable to Delphi | $ | 889 |  |  | $ | 142 |  |  | $ | 1,088 |  |  | $ | (1,230 | ) |  | $ | 889 |
Balance Sheet as of September 30, 2014
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 19 |  |  | $ | — |  |  | $ | 1,007 |  |  | $ | — |  |  | $ | 1,026 |
Restricted cash | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Accounts receivable, net | — |  |  | — |  |  | 2,839 |  |  | — |  |  | 2,839 |
Intercompany receivables, current | 197 |  |  | 1,816 |  |  | 2,422 |  |  | (4,435 | ) |  | — |
Inventories | — |  |  | — |  |  | 1,227 |  |  | — |  |  | 1,227 |
Other current assets | — |  |  | — |  |  | 588 |  |  | — |  |  | 588 |
Total current assets | 216 |  |  | 1,816 |  |  | 8,085 |  |  | (4,435 | ) |  | 5,682 |
Long-term assets: |  |  |  |  |  |  |  |  |
Intercompany receivables, long-term | 820 |  |  | 932 |  |  | 1,291 |  |  | (3,043 | ) |  | — |
Property, net | — |  |  | — |  |  | 3,273 |  |  | — |  |  | 3,273 |
Investments in affiliates | — |  |  | — |  |  | 243 |  |  | — |  |  | 243 |
Investments in subsidiaries | 6,073 |  |  | 656 |  |  | — |  |  | (6,729 | ) |  | — |
Intangible assets, net | — |  |  | — |  |  | 1,083 |  |  | — |  |  | 1,083 |
Other long-term assets | — |  |  | 44 |  |  | 598 |  |  | — |  |  | 642 |
Total long-term assets | 6,893 |  |  | 1,632 |  |  | 6,488 |  |  | (9,772 | ) |  | 5,241 |
Total assets | $ | 7,109 |  |  | $ | 3,448 |  |  | $ | 14,573 |  |  | $ | (14,207 | ) |  | $ | 10,923 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |  |  | $ | 37 |
Accounts payable | — |  |  | — |  |  | 2,521 |  |  | — |  |  | 2,521 |
Intercompany payables, current | 2,913 |  |  | 74 |  |  | 1,449 |  |  | (4,436 | ) |  | — |
Accrued liabilities | 11 |  |  | 18 |  |  | 1,257 |  |  | — |  |  | 1,286 |
Total current liabilities | 2,924 |  |  | 92 |  |  | 5,264 |  |  | (4,436 | ) |  | 3,844 |
Long-term liabilities: |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 2,398 |  |  | 19 |  |  | — |  |  | 2,417 |
Intercompany payables, long-term | 1,291 |  |  | 820 |  |  | 932 |  |  | (3,043 | ) |  | — |
Pension benefit obligations | — |  |  | — |  |  | 911 |  |  | — |  |  | 911 |
Other long-term liabilities | — |  |  | — |  |  | 372 |  |  | — |  |  | 372 |
Total long-term liabilities | 1,291 |  |  | 3,218 |  |  | 2,234 |  |  | (3,043 | ) |  | 3,700 |
Total liabilities | 4,215 |  |  | 3,310 |  |  | 7,498 |  |  | (7,479 | ) |  | 7,544 |
Total Delphi shareholders’ equity | 2,894 |  |  | 138 |  |  | 6,590 |  |  | (6,728 | ) |  | 2,894 |
Noncontrolling interest | — |  |  | — |  |  | 485 |  |  | — |  |  | 485 |
Total shareholders’ equity | 2,894 |  |  | 138 |  |  | 7,075 |  |  | (6,728 | ) |  | 3,379 |
Total liabilities and shareholders’ equity | $ | 7,109 |  |  | $ | 3,448 |  |  | $ | 14,573 |  |  | $ | (14,207 | ) |  | $ | 10,923 |
Balance Sheet as of December 31, 2013
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 7 |  |  | $ | — |  |  | $ | 1,382 |  |  | $ | — |  |  | $ | 1,389 |
Restricted cash | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Accounts receivable, net | — |  |  | — |  |  | 2,662 |  |  | — |  |  | 2,662 |
Intercompany receivables, current | 452 |  |  | 1,123 |  |  | 1,418 |  |  | (2,993 | ) |  | — |
Inventories | — |  |  | — |  |  | 1,102 |  |  | (9 | ) |  | 1,093 |
Other current assets | 1 |  |  | 10 |  |  | 600 |  |  | (7 | ) |  | 604 |
Total current assets | 460 |  |  | 1,133 |  |  | 7,168 |  |  | (3,009 | ) |  | 5,752 |
Long-term assets: |  |  |  |  |  |  |  |  |
Intercompany receivables, long-term | 561 |  |  | 888 |  |  | 1,283 |  |  | (2,732 | ) |  | — |
Property, net | — |  |  | — |  |  | 3,216 |  |  | — |  |  | 3,216 |
Investments in affiliates | — |  |  | — |  |  | 234 |  |  | — |  |  | 234 |
Investments in subsidiaries | 5,181 |  |  | 1,130 |  |  | — |  |  | (6,311 | ) |  | — |
Intangible assets, net | — |  |  | — |  |  | 1,219 |  |  | — |  |  | 1,219 |
Other long-term assets | — |  |  | 43 |  |  | 581 |  |  | 2 |  |  | 626 |
Total long-term assets | 5,742 |  |  | 2,061 |  |  | 6,533 |  |  | (9,041 | ) |  | 5,295 |
Total assets | $ | 6,202 |  |  | $ | 3,194 |  |  | $ | 13,701 |  |  | $ | (12,050 | ) |  | $ | 11,047 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | 25 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 61 |
Accounts payable | — |  |  | — |  |  | 2,595 |  |  | — |  |  | 2,595 |
Intercompany payables, current | 2,008 |  |  | 204 |  |  | 771 |  |  | (2,983 | ) |  | — |
Accrued liabilities | — |  |  | 23 |  |  | 1,222 |  |  | (7 | ) |  | 1,238 |
Total current liabilities | 2,008 |  |  | 252 |  |  | 4,624 |  |  | (2,990 | ) |  | 3,894 |
Long-term liabilities: |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 2,339 |  |  | 12 |  |  | — |  |  | 2,351 |
Intercompany payables, long-term | 1,283 |  |  | 571 |  |  | 888 |  |  | (2,742 | ) |  | — |
Pension benefit obligations | — |  |  | — |  |  | 959 |  |  | — |  |  | 959 |
Other long-term liabilities | — |  |  | — |  |  | 409 |  |  | — |  |  | 409 |
Total long-term liabilities | 1,283 |  |  | 2,910 |  |  | 2,268 |  |  | (2,742 | ) |  | 3,719 |
Total liabilities | 3,291 |  |  | 3,162 |  |  | 6,892 |  |  | (5,732 | ) |  | 7,613 |
Total Delphi shareholders’ equity | 2,911 |  |  | 32 |  |  | 6,286 |  |  | (6,318 | ) |  | 2,911 |
Noncontrolling interest | — |  |  | — |  |  | 523 |  |  | — |  |  | 523 |
Total shareholders’ equity | 2,911 |  |  | 32 |  |  | 6,809 |  |  | (6,318 | ) |  | 3,434 |
Total liabilities and shareholders’ equity | $ | 6,202 |  |  | $ | 3,194 |  |  | $ | 13,701 |  |  | $ | (12,050 | ) |  | $ | 11,047 |
Statement of Cash Flows for the Nine Months Ended September 30, 2014
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net cash provided by operating activities | $ | 37 |  |  | $ | — |  |  | $ | 1,225 |  |  | $ | — |  |  | $ | 1,262 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | — |  |  | (666 | ) |  | — |  |  | (666 | )
Proceeds from sale of property/investments | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Decrease in restricted cash | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Loans to affiliates | — |  |  | (745 | ) |  | (848 | ) |  | 1,593 |  |  | — |
Repayments of loans from affiliates | — |  |  | 55 |  |  | 254 |  |  | (309 | ) |  | — |
Return of investments in subsidiaries | — |  |  | 270 |  |  | — |  |  | (270 | ) |  | — |
Net cash (used in) provided by investing activities | — |  |  | (420 | ) |  | (1,251 | ) |  | 1,014 |  |  | (657 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net proceeds from other short-term debt agreements | — |  |  | — |  |  | 9 |  |  | — |  |  | 9 |
Repayments under long-term debt agreements | — |  |  | (164 | ) |  | — |  |  | — |  |  | (164 | )
Repayment of senior notes | — |  |  | (526 | ) |  | — |  |  | — |  |  | (526 | )
Proceeds from issuance of senior notes, net of issuance costs | — |  |  | 691 |  |  | — |  |  | — |  |  | 691 |
Dividend payments of consolidated affiliates to minority shareholders | — |  |  | — |  |  | (61 | ) |  | — |  |  | (61 | )
Proceeds from borrowings from affiliates | 1,064 |  |  | 529 |  |  | — |  |  | (1,593 | ) |  | — |
Payments on borrowings from affiliates | (199 | ) |  | (110 | ) |  | — |  |  | 309 |  |  | — |
Capital distributions to affiliates | — |  |  | — |  |  | (270 | ) |  | 270 |  |  | — |
Repurchase of ordinary shares | (662 | ) |  | — |  |  | — |  |  | — |  |  | (662 | )
Distribution of cash dividends | (228 | ) |  | — |  |  | — |  |  | — |  |  | (228 | )
Taxes withheld and paid on employees' restricted share awards | — |  |  | — |  |  | (8 | ) |  | — |  |  | (8 | )
Net cash (used in) provided by financing activities | (25 | ) |  | 420 |  |  | (330 | ) |  | (1,014 | ) |  | (949 | )
Effect of exchange rate fluctuations on cash and cash equivalents | — |  |  | — |  |  | (19 | ) |  | — |  |  | (19 | )
Increase (decrease) in cash and cash equivalents | 12 |  |  | — |  |  | (375 | ) |  | — |  |  | (363 | )
Cash and cash equivalents at beginning of period | 7 |  |  | — |  |  | 1,382 |  |  | — |  |  | 1,389 |
Cash and cash equivalents at end of period | $ | 19 |  |  | $ | — |  |  | $ | 1,007 |  |  | $ | — |  |  | $ | 1,026 |
Statement of Cash Flows for the Nine Months Ended September 30, 2013
| Parent Guarantors |  | Subsidiary Issuer |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (in millions)
Net cash (used in) provided by operating activities | $ | (100 | ) |  | $ | — |  |  | $ | 1,238 |  |  | $ | (68 | ) |  | $ | 1,070 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | — |  |  | (512 | ) |  | — |  |  | (512 | )
Proceeds from sale of property/investments | — |  |  | — |  |  | 24 |  |  | — |  |  | 24 |
Cost of business and technology acquisitions, net of cash acquired | — |  |  | — |  |  | (10 | ) |  | — |  |  | (10 | )
Decrease in restricted cash | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Loans to affiliates | — |  |  | (795 | ) |  | (579 | ) |  | 1,374 |  |  | — |
Repayments of loans from affiliates | — |  |  | 262 |  |  | 468 |  |  | (730 | ) |  | — |
Return of investments in subsidiaries | — |  |  | 357 |  |  | — |  |  | (357 | ) |  | — |
Net cash (used in) provided by investing activities | — |  |  | (176 | ) |  | (606 | ) |  | 287 |  |  | (495 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net repayments under other short-term debt agreements | — |  |  | — |  |  | (79 | ) |  | — |  |  | (79 | )
Repayments under long-term debt agreements | — |  |  | (1,349 | ) |  | — |  |  | — |  |  | (1,349 | )
Proceeds from issuance of senior secured term loans, net of issuance costs | — |  |  | 560 |  |  | — |  |  | — |  |  | 560 |
Proceeds from issuance of senior notes, net of issuance costs | — |  |  | 788 |  |  | — |  |  | — |  |  | 788 |
Dividend payments of consolidated affiliates to minority shareholders | — |  |  | — |  |  | (26 | ) |  | — |  |  | (26 | )
Proceeds from borrowings from affiliates | 1,119 |  |  | 245 |  |  | 10 |  |  | (1,374 | ) |  | — |
Payments on borrowings from affiliates | (493 | ) |  | — |  |  | (237 | ) |  | 730 |  |  | — |
Capital distributions to affiliates | — |  |  | — |  |  | (357 | ) |  | 357 |  |  | — |
Dividends paid to affiliates | — |  |  | (68 | ) |  | — |  |  | 68 |  |  | — |
Repurchase of ordinary shares | (353 | ) |  | — |  |  | — |  |  | — |  |  | (353 | )
Distribution of cash dividends | (159 | ) |  | — |  |  | — |  |  | — |  |  | (159 | )
Taxes withheld and paid on employees' restricted share awards | — |  |  | — |  |  | (14 | ) |  | — |  |  | (14 | )
Net cash provided by (used in) financing activities | 114 |  |  | 176 |  |  | (703 | ) |  | (219 | ) |  | (632 | )
Effect of exchange rate fluctuations on cash and cash equivalents | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Increase (decrease) in cash and cash equivalents | 14 |  |  | — |  |  | (66 | ) |  | — |  |  | (52 | )
Cash and cash equivalents at beginning of period | 2 |  |  | — |  |  | 1,103 |  |  | — |  |  | 1,105 |
Cash and cash equivalents at end of period | $ | 16 |  |  | $ | — |  |  | $ | 1,037 |  |  | $ | — |  |  | $ | 1,053 |

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