v3.2.0.727

Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2015

Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements [Abstract]

Schedule of Condensed Income Statement

Statement of Operations Three Months Ended June 30, 2015

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net sales	$	—			$	—			$	—			$	3,858			$	—			$	3,858
Operating expenses:
Cost of sales	—				—				—				3,076				—				3,076
Selling, general and administrative	44				—				—				217				—				261
Amortization	—				—				—				23				—				23
Restructuring	—				—				—				17				—				17
Total operating expenses	44				—				—				3,333				—				3,377
Operating income	(44		)		—				—				525				—				481
Interest (expense) income	(26		)		(9		)		(38		)		(21		)		64				(30		)
Other income (expense), net	—				20				19				23				(64		)		(2		)
(Loss) income from continuing operations before income taxes and equity income	(70		)		11				(19		)		527				—				449
Income tax benefit (expense)	—				—				7				(87		)		—				(80		)
(Loss) income from continuing operations before equity income	(70		)		11				(12		)		440				—				369
Equity in net income (loss) of subsidiaries	715				704				183				—				(1,602		)		—
Income from continuing operations	645				715				171				440				(1,602		)		369
Income from discontinued operations, net of tax	—				—				—				298				—				298
Net income (loss)	645				715				171				738				(1,602		)		667
Net income attributable to noncontrolling interest	—				—				—				22				—				22
Net income (loss) attributable to Delphi	$	645			$	715			$	171			$	716			$	(1,602	)		$	645

Statement of Operations Six Months Ended June 30, 2015

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net sales	$	—			$	—			$	—			$	7,655			$	—			$	7,655
Operating expenses:
Cost of sales	—				—				—				6,132				—				6,132
Selling, general and administrative	26				—				—				490				—				516
Amortization	—				—				—				47				—				47
Restructuring	—				—				—				33				—				33
Total operating expenses	26				—				—				6,702				—				6,728
Operating income	(26		)		—				—				953				—				927
Interest (expense) income	(46		)		(15		)		(83		)		(51		)		133				(62		)
Other income (expense), net	—				35				(7		)		49				(133		)		(56		)
(Loss) income from continuing operations before income taxes and equity income	(72		)		20				(90		)		951				—				809
Income tax benefit (expense)	—				—				33				(174		)		—				(141		)
(Loss) income from continuing operations before equity income	(72		)		20				(57		)		777				—				668
Equity in net income of affiliates	—				—				—				5				—				5
Equity in net income (loss) of subsidiaries	926				906				262				—				(2,094		)		—
Income from continuing operations	854				926				205				782				(2,094		)		673
Income from discontinued operations, net of tax	—				—				—				223				—				223
Net income (loss)	854				926				205				1,005				(2,094		)		896
Net income attributable to noncontrolling interest	—				—				—				42				—				42
Net income (loss) attributable to Delphi	$	854			$	926			$	205			$	963			$	(2,094	)		$	854

Statement of Operations Three Months Ended June 30, 2014

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net sales	$	—			$	—			$	—			$	4,062			$	—			$	4,062
Operating expenses:
Cost of sales	—				—				—				3,262				—				3,262
Selling, general and administrative	30				—				—				231				—				261
Amortization	—				—				—				23				—				23
Restructuring	—				—				—				54				—				54
Total operating expenses	30				—				—				3,570				—				3,600
Operating (loss) income	(30		)		—				—				492				—				462
Interest (expense) income	(5		)		(10		)		(45		)		(18		)		45				(33		)
Other income (expense), net	—				19				16				13				(45		)		3
(Loss) income from continuing operations before income taxes and equity income	(35		)		9				(29		)		487				—				432
Income tax benefit (expense)	—				—				11				(67		)		—				(56		)
(Loss) income from continuing operations before equity income	(35		)		9				(18		)		420				—				376
Equity in net income of affiliates	—				—				—				3				—				3
Equity in net income (loss) of subsidiaries	417				408				72				—				(897		)		—
Income from continuing operations	382				417				54				423				(897		)		379
Income from discontinued operations, net of tax	—				—				—				27				—				27
Net income (loss)	382				417				54				450				(897		)		406
Net income attributable to noncontrolling interest	—				—				—				24				—				24
Net income (loss) attributable to Delphi	$	382			$	417			$	54			$	426			$	(897	)		$	382

Statement of Operations Six Months Ended June 30, 2014

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net sales	$	—			$	—			$	—			$	7,959			$	—			$	7,959
Operating expenses:
Cost of sales	—				—				—				6,426				—				6,426
Selling, general and administrative	35				—				—				474				—				509
Amortization	—				—				—				47				—				47
Restructuring	—				—				—				75				—				75
Total operating expenses	35				—				—				7,022				—				7,057
Operating (loss) income	(35		)		—				—				937				—				902
Interest (expense) income	(9		)		(16		)		(92		)		(36		)		85				(68		)
Other income (expense), net	—				34				(3		)		40				(85		)		(14		)
(Loss) income from continuing operations before income taxes and equity income	(44		)		18				(95		)		941				—				820
Income tax benefit (expense)	—				—				35				(160		)		—				(125		)
(Loss) income from continuing operations before equity income	(44		)		18				(60		)		781				—				695
Equity in net income of affiliates	—				—				—				10				—				10
Equity in net income (loss) of subsidiaries	746				728				142				—				(1,616		)		—
Income from continuing operations	702				746				82				791				(1,616		)		705
Income from discontinued operations, net of tax	—				—				—				42				—				42
Net income (loss)	702				746				82				833				(1,616		)		747
Net income attributable to noncontrolling interest	—				—				—				45				—				45
Net income (loss) attributable to Delphi	$	702			$	746			$	82			$	788			$	(1,616	)		$	702

Schedule of Comprehensive Income (Loss)

Statement of Comprehensive Income Three Months Ended June 30, 2015

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net income (loss)	$	645			$	715			$	171			$	738			$	(1,602	)		$	667
Other comprehensive income (loss):
Currency translation adjustments	—				—				—				61				—				61
Net change in unrecognized loss on derivative instruments, net of tax	—				—				—				(2		)		—				(2		)
Employee benefit plans adjustment, net of tax	—				—				—				(5		)		—				(5		)
Other comprehensive income	—				—				—				54				—				54
Equity in other comprehensive income (loss) of subsidiaries	53				(17		)		—				—				(36		)		—
Comprehensive income (loss)	698				698				171				792				(1,638		)		721
Comprehensive income attributable to noncontrolling interests	—				—				—				23				—				23
Comprehensive income (loss) attributable to Delphi	$	698			$	698			$	171			$	769			$	(1,638	)		$	698

Statement of Comprehensive Income Six Months Ended June 30, 2015

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net income (loss)	$	854			$	926			$	205			$	1,005			$	(2,094	)		$	896
Other comprehensive income (loss):
Currency translation adjustments	—				—				—				(173		)		—				(173		)
Net change in unrecognized loss on derivative instruments, net of tax	—				—				—				(6		)		—				(6		)
Employee benefit plans adjustment, net of tax	—				—				—				22				—				22
Other comprehensive loss	—				—				—				(157		)		—				(157		)
Equity in other comprehensive (loss) income of subsidiaries	(156		)		(228		)		(1		)		—				385				—
Comprehensive income (loss)	698				698				204				848				(1,709		)		739
Comprehensive income attributable to noncontrolling interests	—				—				—				41				—				41
Comprehensive income (loss) attributable to Delphi	$	698			$	698			$	204			$	807			$	(1,709	)		$	698

Statement of Comprehensive Income Three Months Ended June 30, 2014

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net income (loss)	$	382			$	417			$	54			$	450			$	(897	)		$	406
Other comprehensive income (loss):
Currency translation adjustments	—				—				—				21				—				21
Net change in unrecognized gain on derivative instruments, net of tax	—				—				—				40				—				40
Employee benefit plans adjustment, net of tax	—				—				—				1				—				1
Other comprehensive income	—				—				—				62				—				62
Equity in other comprehensive income (loss) of subsidiaries	60				25				17				—				(102		)		—
Comprehensive income (loss)	442				442				71				512				(999		)		468
Comprehensive income attributable to noncontrolling interests	—				—				—				26				—				26
Comprehensive income (loss) attributable to Delphi	$	442			$	442			$	71			$	486			$	(999	)		$	442

Statement of Comprehensive Income Six Months Ended June 30, 2014

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net income (loss)	$	702			$	746			$	82			$	833			$	(1,616	)		$	747
Other comprehensive income (loss):
Currency translation adjustments	—				—				—				7				—				7
Net change in unrecognized gain on derivative instruments, net of tax	—				—				—				7				—				7
Employee benefit plans adjustment, net of tax	—				—				—				2				—				2
Other comprehensive income	—				—				—				16				—				16
Equity in other comprehensive income (loss) of subsidiaries	18				(26		)		9				—				(1		)		—
Comprehensive income (loss)	720				720				91				849				(1,617		)		763
Comprehensive income attributable to noncontrolling interests	—				—				—				43				—				43
Comprehensive income (loss) attributable to Delphi	$	720			$	720			$	91			$	806			$	(1,617	)		$	720

Schedule of Condensed Balance Sheet

Balance Sheet as of June 30, 2015

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	11			$	1			$	—			$	1,159			$	—			$	1,171
Restricted cash	—				—				—				1				—				1
Accounts receivable, net	—				—				—				2,700				—				2,700
Intercompany receivables, current	—				971				509				3,597				(5,077		)		—
Inventories	—				—				—				1,150				—				1,150
Other current assets	—				—				—				596				—				596
Current assets held for sale	—				—				—				316				—				316
Total current assets	11				972				509				9,519				(5,077		)		5,934
Long-term assets:
Intercompany receivables, long-term	—				798				977				1,525				(3,300		)		—
Property, net	—				—				—				2,988				—				2,988
Investments in affiliates	—				—				—				93				—				93
Investments in subsidiaries	6,769				6,845				2,858				—				(16,472		)		—
Intangible assets, net	—				—				—				1,280				—				1,280
Other long-term assets	5				—				31				478				—				514
Total long-term assets	6,774				7,643				3,866				6,364				(19,772		)		4,875
Total assets	$	6,785			$	8,615			$	4,375			$	15,883			$	(24,849	)		$	10,809
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt	$	—			$	—			$	—			$	43			$	—			$	43
Accounts payable	1				—				—				2,385				—				2,386
Intercompany payables, current	3,501				547				784				239				(5,071		)		—
Accrued liabilities	15				—				24				1,131				—				1,170
Current liabilities held for sale	—				—				—				173				—				173
Total current liabilities	3,517				547				808				3,971				(5,071		)		3,772
Long-term liabilities:
Long-term debt	778				—				1,898				17				—				2,693
Intercompany payables, long-term	—				1,299				1,023				977				(3,299		)		—
Pension benefit obligations	—				—				—				922				—				922
Other long-term liabilities	—				—				13				388				—				401
Total long-term liabilities	778				1,299				2,934				2,304				(3,299		)		4,016
Total liabilities	4,295				1,846				3,742				6,275				(8,370		)		7,788
Total Delphi shareholders’ equity	2,490				6,769				633				9,077				(16,479		)		2,490
Noncontrolling interest	—				—				—				531				—				531
Total shareholders’ equity	2,490				6,769				633				9,608				(16,479		)		3,021
Total liabilities and shareholders’ equity	$	6,785			$	8,615			$	4,375			$	15,883			$	(24,849	)		$	10,809

Balance Sheet as of December 31, 2014

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	9			$	1			$	—			$	849			$	—			$	859
Restricted cash	—				—				—				1				—				1
Accounts receivable, net	—				—				—				2,400				—				2,400
Intercompany receivables, current	88				198				1,397				2,046				(3,729		)		—
Inventories	—				—				—				1,013				—				1,013
Other current assets	—				—				—				567				—				567
Current assets held for sale	—				—				—				384				—				384
Total current assets	97				199				1,397				7,260				(3,729		)		5,224
Long-term assets:
Intercompany receivables, long-term	—				775				947				1,519				(3,241		)		—
Property, net	—				—				—				3,021				—				3,021
Investments in affiliates	—				—				—				98				—				98
Investments in subsidiaries	5,215				6,071				1,644				—				(12,930		)		—
Intangible assets, net	—				—				—				1,384				—				1,384
Other long-term assets	—				—				42				466				—				508
Long-term assets held for sale	—				—				—				511				—				511
Total long-term assets	5,215				6,846				2,633				6,999				(16,171		)		5,522
Total assets	$	5,312			$	7,045			$	4,030			$	14,259			$	(19,900	)		$	10,746
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt	$	—			$	—			$	—			$	34			$	—			$	34
Accounts payable	2				—				—				2,276				—				2,278
Intercompany payables, current	2,800				536				89				303				(3,728		)		—
Accrued liabilities	—				—				29				1,192				—				1,221
Current liabilities held for sale	—				—				—				356				—				356
Total current liabilities	2,802				536				118				4,161				(3,728		)		3,889
Long-term liabilities:
Long-term debt	—				—				2,398				19				—				2,417
Intercompany payables, long-term	—				1,294				1,001				947				(3,242		)		—
Pension benefit obligations	—				—				—				1,002				—				1,002
Other long-term liabilities	—				—				11				379				—				390
Long-term liabilities held for sale	—				—				—				35				—				35
Total long-term liabilities	—				1,294				3,410				2,382				(3,242		)		3,844
Total liabilities	2,802				1,830				3,528				6,543				(6,970		)		7,733
Total Delphi shareholders’ equity	2,510				5,215				502				7,213				(12,930		)		2,510
Noncontrolling interest	—				—				—				503				—				503
Total shareholders’ equity	2,510				5,215				502				7,716				(12,930		)		3,013
Total liabilities and shareholders’ equity	$	5,312			$	7,045			$	4,030			$	14,259			$	(19,900	)		$	10,746

Schedule of Condensed Cash Flow Statement

Statement of Cash Flows for the Six Months Ended June 30, 2015

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net cash provided by operating activities from continuing operations	$	6			$	—			$	—			$	629			$	—			$	635
Net cash provided by operating activities from discontinued operations	—				—				—				34				—				34
Net cash provided by operating activities	6				—				—				663				—				669
Cash flows from investing activities:
Capital expenditures	—				—				—				(360		)		—				(360		)
Proceeds from sale of property / investments	—				—				—				3				—				3
Net proceeds from divestiture of discontinued operations	—				—				—				660				—				660
Cost of business, investment and technology acquisitions, net of cash acquired	—				—				—				(23		)		—				(23		)
Payments associated with business disposals	—				—				—				(7		)		—				(7		)
Loans to affiliates	—				(753		)		(342		)		(723		)		1,818				—
Repayments of loans from affiliates	—				—				135				—				(135		)		—
Investments in subsidiaries	(753		)		—				—				—				753				—
Net cash (used in) provided by investing activities from continuing operations	(753		)		(753		)		(207		)		(450		)		2,436				273
Net cash used in investing activities from discontinued operations	—				—				—				(65		)		—				(65		)
Net cash (used in) provided by investing activities	(753		)		(753		)		(207		)		(515		)		2,436				208
Cash flows from financing activities:
Net proceeds under other short- and long-term debt agreements	—				—				—				7				—				7
Repayment of senior notes	—				—				(546		)		—				—				(546		)
Proceeds from issuance of senior notes, net of issuance costs	753				—				—				—				—				753
Dividend payments of consolidated affiliates to minority shareholders	—				—				—				(13		)		—				(13		)
Proceeds from borrowings from affiliates	818				—				753				247				(1,818		)		—
Payments on borrowings from affiliates	(135		)		—				—				—				135				—
Investment from parent	—				753				—				—				(753		)		—
Repurchase of ordinary shares	(542		)		—				—				—				—				(542		)
Distribution of cash dividends	(145		)		—				—				—				—				(145		)
Taxes withheld and paid on employees' restricted share awards	—				—				—				(58		)		—				(58		)
Net cash provided by (used in) financing activities	749				753				207				183				(2,436		)		(544		)
Effect of exchange rate fluctuations on cash and cash equivalents	—				—				—				(2		)		—				(2		)
Increase (decrease) in cash and cash equivalents	2				—				—				329				—				331
Cash and cash equivalents at beginning of period	9				1				—				894				—				904
Cash and cash equivalents at end of period	$	11			$	1			$	—			$	1,223			$	—			$	1,235
Cash and cash equivalents of discontinued operations	$	—			$	—			$	—			$	64			$	—			$	64
Cash and cash equivalents of continuing operations	$	11			$	1			$	—			$	1,159			$	—			$	1,171

Statement of Cash Flows for the Six Months Ended June 30, 2014

	Parent				Subsidiary Guarantors				Subsidiary Issuer/Guarantor				Non-Guarantor Subsidiaries				Eliminations				Consolidated
	(in millions)
Net cash provided by operating activities from continuing operations	$	48			$	—			$	—			$	667			$	—			$	715
Net cash provided by operating activities from discontinued operations	—				—				—				48				—				48
Net cash provided by operating activities	48				—				—				715				—				763
Cash flows from investing activities:
Capital expenditures	—				—				—				(417		)		—				(417		)
Proceeds from sale of property	—				—				—				5				—				5
Increase in restricted cash	—				—				—				(2		)		—				(2		)
Loans to affiliates	—				—				(410		)		(713		)		1,123				—
Repayments of loans from affiliates	—				—				55				254				(309		)		—
Net cash (used in) provided by investing activities from continuing operations	—				—				(355		)		(873		)		814				(414		)
Net cash used in investing activities from discontinued operations	—				—				—				(52		)		—				(52		)
Net cash (used in) provided by investing activities	—				—				(355		)		(925		)		814				(466		)
Cash flows from financing activities:
Net proceeds under other short- and long-term debt agreements	—				—				—				6				—				6
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	—				—				—				(7		)		—				(7		)
Proceeds from borrowings from affiliates	515				144				464				—				(1,123		)		—
Payments on borrowings from affiliates	(55		)		(144		)		(110		)		—				309				—
Repurchase of ordinary shares	(358		)		—				—				—				—				(358		)
Distribution of cash dividends	(153		)		—				—				—				—				(153		)
Taxes withheld and paid on employees' restricted share awards	—				—				—				(8		)		—				(8		)
Net cash (used in) provided by financing activities	(51		)		—				355				(9		)		(814		)		(519		)
Effect of exchange rate fluctuations on cash and cash equivalents	—				—				—				(1		)		—				(1		)
Increase (decrease) in cash and cash equivalents	(3		)		—				—				(220		)		—				(223		)
Cash and cash equivalents at beginning of period	7				—				—				1,382				—				1,389
Cash and cash equivalents at end of period	$	4			$	—			$	—			$	1,162			$	—			$	1,166
Cash and cash equivalents of discontinued operations	$	—			$	—			$	—			$	44			$	—			$	44
Cash and cash equivalents of continuing operations	$	4			$	—			$	—			$	1,118			$	—			$	1,122

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 220



-SubTopic 10



-Section 45



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e526-108580

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