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Quarterly Data (Unaudited) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Data [Abstract] |
Quarterly Financial Information | QUARTERLY DATA (UNAUDITED) The following is a condensed summary of the Company’s unaudited quarterly results of operations for fiscal 2018 and 2017.
| Three Months Ended |  |
| March 31, |  | June 30, |  | September 30, |  | December 31, |  | Total
| (in millions, except per share amounts)
2018 |  |  |  |  |  |  |  |  |
Net sales | $ | 3,630 |  |  | $ | 3,684 |  |  | $ | 3,485 |  |  | $ | 3,636 |  |  | $ | 14,435 |
Cost of sales | 2,947 |  |  | 2,958 |  |  | 2,834 |  |  | 2,967 |  |  | 11,706 |
Gross profit | $ | 683 |  |  | $ | 726 |  |  | $ | 651 |  |  | $ | 669 |  |  | $ | 2,729 |
Operating income (1) | $ | 374 |  |  | $ | 421 |  |  | $ | 323 |  |  | $ | 355 |  |  | $ | 1,473 |
Income from continuing operations | 316 |  |  | 303 |  |  | 231 |  |  | 257 |  |  | 1,107 |
Income from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (2) | $ | 316 |  |  | $ | 303 |  |  | $ | 231 |  |  | $ | 257 |  |  | $ | 1,107 |
Net income attributable to Aptiv | $ | 307 |  |  | $ | 291 |  |  | $ | 222 |  |  | $ | 247 |  |  | $ | 1,067 |
Basic net income per share: |  |  |  |  |  |  |  |  |
Continuing operations (3) | $ | 1.16 |  |  | $ | 1.10 |  |  | $ | 0.84 |  |  | $ | 0.94 |  |  | $ | 4.04 |
Discontinued operations (3) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Basic net income per share attributable to Aptiv (3) | $ | 1.16 |  |  | $ | 1.10 |  |  | $ | 0.84 |  |  | $ | 0.94 |  |  | $ | 4.04 |
Weighted average number of basic shares outstanding | 265.69 |  |  | 264.81 |  |  | 264.56 |  |  | 262.61 |  |  | 264.41 |
Diluted net income per share: |  |  |  |  |  |  |  |  |
Continuing operations (3) | $ | 1.15 |  |  | $ | 1.10 |  |  | $ | 0.84 |  |  | $ | 0.94 |  |  | $ | 4.02 |
Discontinued operations (3) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Diluted net income per share attributable to Aptiv (3) | $ | 1.15 |  |  | $ | 1.10 |  |  | $ | 0.84 |  |  | $ | 0.94 |  |  | $ | 4.02 |
Weighted average number of diluted shares outstanding | 266.44 |  |  | 265.48 |  |  | 265.33 |  |  | 263.65 |  |  | 265.22 |
2017 |  |  |  |  |  |  |  |  |
Net sales | $ | 3,143 |  |  | $ | 3,153 |  |  | $ | 3,148 |  |  | $ | 3,440 |  |  | $ | 12,884 |
Cost of sales | 2,544 |  |  | 2,498 |  |  | 2,498 |  |  | 2,730 |  |  | 10,270 |
Gross profit | $ | 599 |  |  | $ | 655 |  |  | $ | 650 |  |  | $ | 710 |  |  | $ | 2,614 |
Operating income (4) | $ | 293 |  |  | $ | 364 |  |  | $ | 373 |  |  | $ | 386 |  |  | $ | 1,416 |
Income from continuing operations | 229 |  |  | 306 |  |  | 306 |  |  | 222 |  |  | 1,063 |
Income from discontinued operations, net of tax | 123 |  |  | 80 |  |  | 107 |  |  | 55 |  |  | 365 |
Net income (5) | $ | 352 |  |  | $ | 386 |  |  | $ | 413 |  |  | $ | 277 |  |  | $ | 1,428 |
Net income attributable to Aptiv | $ | 335 |  |  | $ | 369 |  |  | $ | 395 |  |  | $ | 256 |  |  | $ | 1,355 |
Basic net income per share: |  |  |  |  |  |  |  |  |
Continuing operations (3) | $ | 0.82 |  |  | $ | 1.11 |  |  | $ | 1.11 |  |  | $ | 0.78 |  |  | $ | 3.82 |
Discontinued operations (3) | 0.42 |  |  | 0.27 |  |  | 0.37 |  |  | 0.18 |  |  | 1.25 |
Basic net income per share attributable to Aptiv (3) | $ | 1.24 |  |  | $ | 1.38 |  |  | $ | 1.48 |  |  | $ | 0.96 |  |  | $ | 5.07 |
Weighted average number of basic shares outstanding | 269.20 |  |  | 267.41 |  |  | 266.24 |  |  | 265.84 |  |  | 267.16 |
Diluted net income per share: |  |  |  |  |  |  |  |  |
Continuing operations (3) | $ | 0.82 |  |  | $ | 1.11 |  |  | $ | 1.11 |  |  | $ | 0.77 |  |  | $ | 3.81 |
Discontinued operations (3) | 0.42 |  |  | 0.27 |  |  | 0.37 |  |  | 0.18 |  |  | 1.25 |
Diluted net income per share attributable to Aptiv (3) | $ | 1.24 |  |  | $ | 1.38 |  |  | $ | 1.48 |  |  | $ | 0.95 |  |  | $ | 5.06 |
Weighted average number of diluted shares outstanding | 269.54 |  |  | 268.03 |  |  | 267.16 |  |  | 267.44 |  |  | 268.03 |
(1) | In the third quarter of 2018, Aptiv recorded restructuring charges totaling $65 million, which includes employee-related and other costs. In the fourth quarter of 2018, Aptiv recorded intangible asset impairment charges totaling $30 million, as further described in Note 7. Intangible Assets and Goodwill.
(2) | In the second quarter of 2018, Aptiv recorded increased tax expense of approximately $25 million as an adjustment to the provisional amounts recorded due to the enactment of the Tax Cuts and Jobs Act in the U.S. on December 22, 2017. In the third quarter of 2018, Aptiv recorded increased tax expense of approximately $24 million as a result of the intra-entity transfer of intellectual property, as further described in Note 14. Income Taxes.
(3) | 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.
(4) | In the first quarter of 2017, Aptiv recorded restructuring charges totaling $52 million, which includes employee-related and other costs, $36 million of which related to the initiation of the closure of a European manufacturing site within the Advanced Safety and User Experience segment.
(5) | In the fourth quarter of 2017, Aptiv recorded increased tax expense of approximately $50 million due to the enactment of the Tax Cuts and Jobs Act in the U.S. on December 22, 2017.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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