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.