Exhibit 99.1
ITEM 6. SELECTED FINANCIAL DATA
The following table presents information from the Company's consolidated financial statements for each of the five years ended December 31. In connection with the Lighting Transaction, the results of operations of the Lighting business have been reclassified to “Income from discontinued operations, net of tax” in the Consolidated Statements of Operations, and are provided in the table below. This information should be read in conjunction with “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Financial Statements and Supplementary Data” included under Items 7 and 8, respectively, of this Annual Report on Form 10-K.
Successor | Predecessor | |||||||||||||||||||||||
Year Ended December 31 | Three months Ended December 31 | Nine Months Ended October 1 | Year Ended December 31 | Year Ended December 31 | Year Ended December 31 | |||||||||||||||||||
2011 | 2010 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
(Dollars in Millions, Except Per Share Amounts) | ||||||||||||||||||||||||
Statement of Operations Data | ||||||||||||||||||||||||
Net sales | $ | 7,532 | $ | 1,778 | $ | 5,244 | $ | 6,328 | $ | 8,963 | $ | 10,727 | ||||||||||||
Gross margin | 618 | 244 | 549 | 618 | 494 | 613 | ||||||||||||||||||
Income (loss) from continuing operations before income taxes | 337 | 129 | 1,130 | 299 | (465 | ) | (230 | ) | ||||||||||||||||
Net income (loss) from continuing operations | 210 | 105 | 982 | 227 | (583 | ) | (250 | ) | ||||||||||||||||
Income (loss) from discontinued operations, net of tax | (56 | ) | — | 14 | (43 | ) | (64 | ) | (79 | ) | ||||||||||||||
Net income (loss) | 154 | 105 | 996 | 184 | (647 | ) | (329 | ) | ||||||||||||||||
Net income attributable to non-controlling interests | 74 | 19 | 56 | 56 | 34 | 43 | ||||||||||||||||||
Net income (loss) attributable to Visteon Corporation: | ||||||||||||||||||||||||
Net income (loss) from continuing operations | 136 | 86 | 926 | 171 | (617 | ) | (293 | ) | ||||||||||||||||
Income (loss) from discontinued operations | (56 | ) | — | 14 | (43 | ) | (64 | ) | (79 | ) | ||||||||||||||
Net income (loss) attributable to Visteon Corporation | $ | 80 | $ | 86 | $ | 940 | $ | 128 | $ | (681 | ) | $ | (372 | ) | ||||||||||
Basic earnings per share: | ||||||||||||||||||||||||
Continuing operations | $ | 2.65 | $ | 1.71 | $ | 7.10 | $ | 1.31 | $ | (4.77 | ) | $ | (2.26 | ) | ||||||||||
Discontinued operations | (1.09 | ) | — | 0.11 | (0.33 | ) | (0.49 | ) | (0.61 | ) | ||||||||||||||
Basic earnings (loss) attributable to Visteon Corporation | $ | 1.56 | $ | 1.71 | $ | 7.21 | $ | 0.98 | $ | (5.26 | ) | $ | (2.87 | ) | ||||||||||
Diluted earnings per share: | ||||||||||||||||||||||||
Continuing operations | $ | 2.62 | $ | 1.66 | $ | 7.10 | $ | 1.31 | $ | (4.77 | ) | $ | (2.26 | ) | ||||||||||
Discontinued operations | (1.08 | ) | — | 0.11 | (0.33 | ) | (0.49 | ) | (0.61 | ) | ||||||||||||||
Diluted earnings (loss) attributable to Visteon Corporation | $ | 1.54 | $ | 1.66 | $ | 7.21 | $ | 0.98 | $ | (5.26 | ) | $ | (2.87 | ) | ||||||||||
Balance Sheet Data | ||||||||||||||||||||||||
Total assets | $ | 4,969 | $ | 5,208 | N/A | $ | 5,019 | $ | 5,248 | $ | 7,205 | |||||||||||||
Total debt | $ | 599 | $ | 561 | N/A | $ | 231 | $ | 2,762 | $ | 2,840 | |||||||||||||
Total Visteon Corporation shareholders' equity (deficit) | $ | 1,307 | $ | 1,260 | N/A | $ | (772 | ) | $ | (887 | ) | $ | (90 | ) | ||||||||||
Statement of Cash Flows Data | ||||||||||||||||||||||||
Cash provided from (used by) operating activities | $ | 175 | $ | 154 | $ | 20 | $ | 141 | $ | (116 | ) | $ | 293 | |||||||||||
Cash used by investing activities | $ | (331 | ) | $ | (76 | ) | $ | (75 | ) | $ | (123 | ) | $ | (208 | ) | $ | (177 | ) | ||||||
Cash (used by) provided from financing activities | $ | (3 | ) | $ | (40 | ) | $ | (42 | ) | $ | (259 | ) | $ | (193 | ) | $ | 547 |