| Quarterly Financial Information |
QUARTERLY DATA (UNAUDITED) The following is a condensed summary of the Company’s unaudited quarterly results of continuing operations for fiscal 2015 and 2014. Previously reported 2014 quarterly amounts have been revised to reflect the retrospective application of the classification of the Thermal Systems segment as a discontinued operation. Refer to Note 25. Discontinued Operations for additional information. | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | March 31, | | June 30, | | September 30, | | December 31, | | Total | | (in millions, except per share amounts) | 2015 | | | | | | | | | | Net sales | $ | 3,797 |
| | $ | 3,858 |
| | $ | 3,631 |
| | $ | 3,879 |
| | $ | 15,165 |
| Cost of sales | 3,056 |
| | 3,076 |
| | 2,862 |
| | 3,161 |
| | 12,155 |
| Gross profit | $ | 741 |
| | $ | 782 |
| | $ | 769 |
| | $ | 718 |
| | $ | 3,010 |
| Operating income (1) | $ | 446 |
| | $ | 481 |
| | $ | 461 |
| | $ | 335 |
| | $ | 1,723 |
| Income from continuing operations | 304 |
| | 369 |
| | 364 |
| | 224 |
| | 1,261 |
| (Loss) income from discontinued operations, net of tax (2) | (75 | ) | | 298 |
| | 54 |
| | (3 | ) | | 274 |
| Net income (3) | $ | 229 |
| | $ | 667 |
| | $ | 418 |
| | $ | 221 |
| | $ | 1,535 |
| Net income attributable to Delphi | $ | 209 |
| | $ | 645 |
| | $ | 404 |
| | $ | 192 |
| | $ | 1,450 |
| Basic net income (loss) per share: | | | | | | | | | | Continuing operations (4) | $ | 0.99 |
| | $ | 1.22 |
| | $ | 1.24 |
| | $ | 0.71 |
| | $ | 4.16 |
| Discontinued operations (4) | (0.27 | ) | | 1.02 |
| | 0.19 |
| | (0.02 | ) | | 0.92 |
| Basic net income per share attributable to Delphi (4) | $ | 0.72 |
| | $ | 2.24 |
| | $ | 1.43 |
| | $ | 0.69 |
| | $ | 5.08 |
| Weighted average number of basic shares outstanding | 290.90 |
| | 287.77 |
| | 282.97 |
| | 279.29 |
| | 285.20 |
| Diluted net income (loss) per share: | | | | | | | | | | Continuing operations (4) | $ | 0.99 |
| | $ | 1.21 |
| | $ | 1.23 |
| | $ | 0.70 |
| | $ | 4.14 |
| Discontinued operations (4) | (0.27 | ) | | 1.02 |
| | 0.19 |
| | (0.02 | ) | | 0.92 |
| Diluted net income per share attributable to Delphi (4) | $ | 0.72 |
| | $ | 2.23 |
| | $ | 1.42 |
| | $ | 0.68 |
| | $ | 5.06 |
| Weighted average number of diluted shares outstanding | 291.81 |
| | 288.85 |
| | 284.40 |
| | 281.64 |
| | 286.64 |
| | | | | | | | | | | 2014 | | | | | | | | | | Net sales | $ | 3,897 |
| | $ | 4,062 |
| | $ | 3,762 |
| | $ | 3,778 |
| | $ | 15,499 |
| Cost of sales | 3,164 |
| | 3,262 |
| | 3,041 |
| | 3,004 |
| | 12,471 |
| Gross profit | $ | 733 |
| | $ | 800 |
| | $ | 721 |
| | $ | 774 |
| | $ | 3,028 |
| Operating income | $ | 440 |
| | $ | 462 |
| | $ | 392 |
| | $ | 464 |
| | $ | 1,758 |
| Income from continuing operations | 326 |
| | 379 |
| | 313 |
| | 362 |
| | 1,380 |
| Income from discontinued operations, net of tax | 15 |
| | 27 |
| | 12 |
| | 6 |
| | 60 |
| Net income (5) | $ | 341 |
| | $ | 406 |
| | $ | 325 |
| | $ | 368 |
| | $ | 1,440 |
| Net income attributable to Delphi | $ | 320 |
| | $ | 382 |
| | $ | 305 |
| | $ | 344 |
| | $ | 1,351 |
| Basic net income per share: | | | | | | | | | | Continuing operations (4) | $ | 1.02 |
| | $ | 1.19 |
| | $ | 1.00 |
| | $ | 1.16 |
| | $ | 4.36 |
| Discontinued operations (4) | 0.03 |
| | 0.07 |
| | 0.02 |
| | 0.01 |
| | 0.14 |
| Basic net income per share attributable to Delphi (4) | $ | 1.05 |
| | $ | 1.26 |
| | $ | 1.02 |
| | $ | 1.17 |
| | $ | 4.50 |
| Weighted average number of basic shares outstanding | 305.85 |
| | 302.68 |
| | 298.59 |
| | 294.11 |
| | 300.27 |
| Diluted net income per share: | | | | | | | | | | Continuing operations (4) | $ | 1.01 |
| | $ | 1.19 |
| | $ | 1.00 |
| | $ | 1.15 |
| | $ | 4.34 |
| Discontinued operations (4) | 0.03 |
| | 0.07 |
| | 0.02 |
| | 0.01 |
| | 0.14 |
| Diluted net income per share attributable to Delphi (4) | $ | 1.04 |
| | $ | 1.26 |
| | $ | 1.02 |
| | $ | 1.16 |
| | $ | 4.48 |
| Weighted average number of diluted shares outstanding | 306.89 |
| | 303.74 |
| | 300.14 |
| | 296.93 |
| | 301.89 |
|
| | (1) | In the fourth quarter of 2015, Delphi recorded restructuring charges totaling $108 million, which includes employee-related and other costs. |
| | (2) | In the first quarter of 2015, Delphi recognized an after-tax impairment loss of $88 million within discontinued operations, in the second quarter of 2015, Delphi recognized an after-tax gain on the divestiture of discontinued operations of $285 million and in the third quarter of 2015, Delphi recognized an after-tax gain on the divestiture of discontinued operations of $47 million. |
| | (3) | In the first quarter of 2015, Delphi recognized a loss on extinguishment of debt of $52 million. |
| | (4) | Due to the use of the weighted average shares outstanding for each quarter for computing earnings per share, the sum of the quarterly per share amounts may not equal the per share amount for the year. |
| | (5) | In the first quarter of 2014, Delphi recognized a loss on extinguishment of debt of $34 million. |
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