Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Entity Registrant Name | 'Delphi Automotive PLC | ' |
Entity Central Index Key | '0001521332 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 307,717,560 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' |
Net sales | $4,017 | ' | ' | $3,663 | $12,281 | $11,752 |
Operating expenses: | ' | ' | ' | ' | ' | ' |
Cost of sales | 3,338 | ' | ' | 3,058 | 10,141 | 9,703 |
Selling, general and administrative | 228 | ' | ' | 215 | 699 | 673 |
Amortization | 27 | ' | ' | 20 | 79 | 60 |
Restructuring | 37 | ' | ' | 3 | 95 | 17 |
Total operating expenses | 3,630 | ' | ' | 3,296 | 11,014 | 10,453 |
Operating income | 387 | ' | ' | 367 | 1,267 | 1,299 |
Interest expense | -34 | ' | ' | -32 | -106 | -100 |
Other income (expense), net | 4 | ' | ' | 3 | -25 | 15 |
Income before income taxes and equity income | 357 | ' | ' | 338 | 1,136 | 1,214 |
Income tax expense | -72 | ' | ' | -52 | -182 | -227 |
Income before equity income | 285 | ' | ' | 286 | 954 | 987 |
Equity income, net of tax | 8 | ' | ' | 6 | 26 | 18 |
Net income | 293 | ' | ' | 292 | 980 | 1,005 |
Net income attributable to noncontrolling interest | 22 | ' | ' | 23 | 66 | 64 |
Net loss attributable to Delphi | $271 | ' | ' | $269 | $914 | $941 |
Basic net income per share: | ' | ' | ' | ' | ' | ' |
Basic net income per share attributable to Delphi | $0.88 | ' | ' | $0.84 | $2.93 | $2.89 |
Weighted average number of basic shares outstanding | 309.68 | ' | ' | 320.93 | 312.08 | 325 |
Diluted net income per share: | ' | ' | ' | ' | ' | ' |
Diluted net income per share attributable to Delphi | $0.87 | ' | ' | $0.84 | $2.92 | $2.89 |
Weighted average number of diluted shares outstanding | 310.62 | ' | ' | 321.28 | 312.87 | 325.28 |
Cash dividends per share | $0.17 | $0.17 | $0.17 | $0 | $0.51 | $0 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $293 | $292 | $980 | $1,005 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Currency translation adjustments | 113 | 82 | -4 | 9 |
Net change in unrecognized gain (loss) on derivative instruments, net of tax | 10 | 26 | -29 | 62 |
Employee benefit plans adjustment, net of tax | -5 | -1 | 11 | -2 |
Other comprehensive income (loss) | 118 | 107 | -22 | 69 |
Comprehensive income | 411 | 399 | 958 | 1,074 |
Comprehensive income attributable to noncontrolling interests | 25 | 24 | 69 | 64 |
Comprehensive income attributable to Delphi | $386 | $375 | $889 | $1,010 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $1,053 | $1,105 |
Restricted cash | 5 | 8 |
Accounts receivable, net | 2,856 | 2,425 |
Inventories (Note 3) | 1,233 | 1,066 |
Other current assets (Note 4) | 640 | 623 |
Total current assets | 5,787 | 5,227 |
Long-term assets: | ' | ' |
Property, net | 2,982 | 2,860 |
Investments in affiliates | 217 | 231 |
Intangible Assets, net (Note 2) | 742 | 803 |
Goodwill (Note 2) | 485 | 473 |
Other long-term assets (Note 4) | 598 | 582 |
Total long-term assets | 5,024 | 4,949 |
Total assets | 10,811 | 10,176 |
Current liabilities: | ' | ' |
Short-term debt (Note 8) | 59 | 140 |
Accounts payable | 2,504 | 2,278 |
Accrued liabilities (Note 5) | 1,294 | 1,241 |
Total current liabilities | 3,857 | 3,659 |
Long-term liabilities: | ' | ' |
Long-term debt (Note 8) | 2,359 | 2,324 |
Pension benefit obligations | 909 | 929 |
Other long-term liabilities (Note 5) | 463 | 434 |
Total long-term liabilities | 3,731 | 3,687 |
Total liabilities | 7,588 | 7,346 |
Commitments and contingencies (Note 10) | ' | ' |
Shareholders' equity: | ' | ' |
Preferred shares, $0.01 par value per share, 50,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Ordinary shares, $0.01 par value per share, 1,200,000,000 shares authorized, 308,080,000 and 315,299,183 issued and outstanding as of September 30, 2013 and December 31, 2012, respectively | 3 | 3 |
Additional paid-in capital | 1,718 | 1,723 |
Retained earnings | 1,287 | 856 |
Accumulated other comprehensive (loss) income | -262 | -237 |
Total Delphi shareholders' equity | 2,746 | 2,345 |
Noncontrolling interest | 477 | 485 |
Total shareholders' equity | 3,223 | 2,830 |
Total liabilities and shareholders' equity | $10,811 | $10,176 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred shares, par value per share | $0.01 | $0.01 |
Preferred shares, authorized | 50,000,000 | 50,000,000 |
Preferred shares, outstanding | 0 | 0 |
Ordinary Shares, Par or Stated Value Per Share | $0.01 | $0.01 |
Ordinary shares, authorized | 1,200,000,000 | 1,200,000,000 |
Ordinary shares, outstanding | 308,080,000 | 315,299,183 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $980 | $1,005 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation | 322 | 280 |
Amortization | 79 | 60 |
Amortization of deferred issuance costs | 8 | 13 |
Restructuring expense, net of cash paid | -11 | -45 |
Deferred income taxes | 23 | 18 |
Pension and other postretirement benefit expenses | 62 | 49 |
Income from equity method investments, net of dividends received | 4 | 8 |
Loss on extinguishment of debt | 39 | 1 |
Gain on sale of assets | -11 | -4 |
Share-based compensation | 36 | 20 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable, net | -431 | -87 |
Inventories | -167 | -69 |
Other assets | -43 | -23 |
Accounts payable | 306 | -22 |
Accrued and other long-term liabilities | -19 | 9 |
Other, net | -42 | -3 |
Pension contributions | -65 | -42 |
Net cash provided by operating activities | 1,070 | 1,168 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -512 | -563 |
Proceeds from sale of property / investments | 24 | 18 |
Cost of business and technology acquisitions, net of cash acquired | -10 | 0 |
Decrease (increase) in restricted cash | 3 | -2 |
Acquisition of minority held shares | 0 | -16 |
Dividends from equity method investments in excess of earnings | 0 | 37 |
Net cash used in investing activities | -495 | -526 |
Cash flows from financing activities: | ' | ' |
Net repayments under other short-term debt agreements | -79 | -16 |
Proceeds from issuance of senior secured term loans, net of issuance costs | 560 | -5 |
Repayment under long-term debt agreements | -1,349 | 0 |
Proceeds from issuance of senior notes, net of issuance costs | 788 | 0 |
Dividend payments of consolidated affiliates to minority shareholders | -26 | -39 |
Repurchase of ordinary shares | -353 | -300 |
Distribution of cash dividends | -159 | 0 |
Taxes withheld and paid on employees' restricted share awards | -14 | 0 |
Net cash used in financing activities | -632 | -360 |
Effect of exchange rate fluctuations on cash and cash equivalents | 5 | -11 |
(Decrease) increase in cash and cash equivalents | -52 | 271 |
Cash and cash equivalents at beginning of period | 1,105 | 1,363 |
Cash and cash equivalents at end of period | $1,053 | $1,634 |
Consolidated_Statement_Of_Shar
Consolidated Statement Of Shareholders' Equity (USD $) | Total | Ordinary Shares [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Total Delphi Shareholders' Equity [Member] | Noncontrolling Interest [Member] |
In Millions, except Share data | |||||||
Balance at Dec. 31, 2012 | $2,830 | $3 | $1,723 | $856 | ($237) | $2,345 | $485 |
Balance, shares at Dec. 31, 2012 | ' | 315,000,000 | ' | ' | ' | ' | ' |
Net income | 980 | ' | ' | 914 | ' | 914 | 66 |
Aggregate adjustment for the period | -22 | ' | ' | ' | -25 | -25 | 3 |
Dividends on ordinary shares | -159 | ' | 2 | -161 | ' | -159 | 0 |
Dividend payments of consolidated affiliates to minority shareholders | -77 | ' | ' | ' | ' | ' | -77 |
Taxes witheld on employees' restricted share award vestings | -3 | ' | -3 | ' | ' | -3 | ' |
Repurchase of ordinary shares | -362 | ' | -40 | -322 | ' | -362 | ' |
Repurchase of ordinary shares, shares | -7,415,583 | -7,000,000 | ' | ' | ' | ' | ' |
Share based compensation | 36 | ' | 36 | ' | ' | 36 | ' |
Balance at Sep. 30, 2013 | $3,223 | $3 | $1,718 | $1,287 | ($262) | $2,746 | $477 |
Balance, shares at Sep. 30, 2013 | ' | 308,000,000 | ' | ' | ' | ' | ' |
General
General | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
General | ' |
GENERAL | |
General and basis of presentation—“Delphi,” the “Company”, the “Successor”, “we”, “us” and “our” refer to Delphi Automotive PLC, a public limited company which was formed under the laws of Jersey on May 19, 2011, together with its subsidiaries, including Delphi Automotive LLP, a limited liability partnership incorporated under the laws of England and Wales which was formed on August 19, 2009 for the purpose of acquiring certain assets of the former Delphi Corporation, and became a subsidiary of Delphi Automotive PLC in connection with the completion of the Company’s initial public offering on November 22, 2011. The former Delphi Corporation (now known as DPH Holdings Corp. (“DPHH”)) and, as the context may require, its subsidiaries and affiliates, are referred to herein as the “Predecessor.” The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements and notes thereto included in this report should be read in conjunction with Delphi's 2012 Annual Report on Form 10-K. | |
Nature of operations—Delphi is a leading global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets. Delphi operates manufacturing facilities and technical centers utilizing a regional service model that enables the Company to efficiently and effectively serve its global customers from low cost countries. In line with the growth in emerging markets, Delphi has been increasing its focus on these markets, particularly in China, where the Company has a major manufacturing base and strong customer relationships. | |
Corporate history—In October 2005, the Predecessor and certain of its United States (“U.S.”) subsidiaries filed voluntary petitions for reorganization relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). The Predecessor's non-U.S. subsidiaries which were not included in the Chapter 11 Filings, continued their business operations without supervision from the Bankruptcy Court and were not subject to the requirements of the Bankruptcy Code. On August 19, 2009, Delphi Automotive LLP, a limited liability partnership organized under the laws of England and Wales, was formed for the purpose of acquiring certain assets and subsidiaries of the former Delphi Corporation, its Predecessor (“the Acquisition”). On October 6, 2009 (the “Acquisition Date”), Delphi Automotive LLP acquired the major portion of the business of the Predecessor and issued membership interests to a group of investors consisting of lenders to the Predecessor, General Motors Company (“GM”) and the Pension Benefit Guaranty Corporation (the “PBGC”). | |
As a result of the Acquisition, Delphi Automotive LLP acquired a significant portion of the business of the Predecessor and this business constituted the entirety of the operations of the Successor. | |
On March 31, 2011, all of the outstanding Class A and Class C membership interests held by GM and the PBGC were redeemed, respectively, for approximately $4.4 billion. The redemption transaction was funded by a $3.0 billion credit facility entered into on March 31, 2011 (the “Credit Facility”) and existing cash. Refer to Note 8. Debt and Note 12. Shareholders' Equity and Net Income Per Share for additional disclosures. | |
On May 19, 2011, Delphi Automotive PLC was formed as a Jersey public limited company, and had nominal assets, no liabilities and had conducted no operations prior to its initial public offering. On November 22, 2011, in conjunction with the completion of its initial public offering by the selling shareholders, all of the outstanding equity of Delphi Automotive LLP was exchanged for ordinary shares of Delphi Automotive PLC. As a result, Delphi Automotive LLP became a wholly-owned subsidiary of Delphi Automotive PLC. The transaction whereby Delphi Automotive LLP became a wholly-owned subsidiary of Delphi Automotive PLC had no accounting effects. |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Significant Accounting Policies | ' | ||||||||||||||||||||
SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||||||||
Consolidation—The consolidated financial statements include the accounts of Delphi and U.S. and non-U.S. subsidiaries in which Delphi holds a controlling financial or management interest and variable interest entities of which Delphi has determined that it is the primary beneficiary. Delphi’s share of the earnings or losses of non-controlled affiliates, over which Delphi exercises significant influence (generally a 20% to 50% ownership interest), is included in the consolidated operating results using the equity method of accounting. All adjustments, consisting of only normal recurring items, which are necessary for a fair presentation, have been included. All significant intercompany transactions and balances between consolidated Delphi businesses have been eliminated. | |||||||||||||||||||||
During the three and nine months ended September 30, 2013, Delphi received dividends of $10 million and $30 million from two of its equity method investments, respectively. The dividends were recognized as a reduction to the investment and represented a return on investment included in cash flows from operating activities. During the nine months ended September 30, 2012, Delphi received a dividend of $62 million from one of its equity method investments. The dividend was recognized as a reduction to the investment with $25 million representing a return on investment included in cash flows from operating activities and $37 million representing a return of capital investment and included in cash flows from investing activities. | |||||||||||||||||||||
Use of estimates—Preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect amounts reported therein. Generally, matters subject to estimation and judgment include amounts related to accounts receivable realization, inventory obsolescence, asset impairments, useful lives of intangible and fixed assets, deferred tax asset valuation allowances, income taxes, pension benefit plan assumptions, accruals related to litigation, warranty costs, environmental remediation costs, worker’s compensation accruals and healthcare accruals. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from those estimates. | |||||||||||||||||||||
Net income per share—Basic net income per share is computed by dividing net income attributable to Delphi by the weighted–average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Delphi by the diluted weighted-average number of ordinary shares outstanding. Share amounts included in these notes are on a diluted basis. See Note 12. Shareholders’ Equity and Net Income Per Share for additional information including the calculation of basic and diluted net income per share. | |||||||||||||||||||||
Cash and cash equivalents—Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of three months or less. | |||||||||||||||||||||
Intangible Assets—Intangible assets were $742 million and $803 million as of September 30, 2013 and December 31, 2012, respectively. Delphi amortizes definite-lived intangible assets over their estimated useful lives. Delphi has definite-lived intangible assets related to patents and developed technology, customer relationships, trade names and in-process research and development. Delphi does not amortize indefinite-lived in-process research and development, but tests for impairment annually, or more frequently when indicators of potential impairment exist. Costs to renew or extend the term of acquired intangible assets are recognized as expense as incurred. Amortization expense was $27 million and $79 million for the three and nine months ended September 30, 2013 and $20 million and $60 million for the three and nine months ended September 30, 2012, respectively. | |||||||||||||||||||||
Goodwill—Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Delphi tests goodwill for impairment annually or more frequently when indications of potential impairment exist. Delphi monitors the existence of potential impairment indicators throughout the fiscal year. | |||||||||||||||||||||
The Company tests for goodwill impairment at the reporting unit level. Our reporting units are the components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. No components were aggregated in arriving at our reporting units. | |||||||||||||||||||||
The impairment test involves first qualitatively assessing goodwill for impairment. If the qualitative assessment is not met the Company then performs a quantitative assessment by first comparing the fair value of each reporting unit to its carrying value, including goodwill. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the fair value exceeds carrying value, no goodwill impairment has occurred. If the carrying value of the reporting unit exceeds its fair value, a second step is required to measure possible goodwill impairment loss. The second step includes hypothetically valuing the tangible and intangible assets and liabilities of the reporting unit as if the reporting unit had been acquired in a business combination. Then, the implied fair value of the reporting unit's goodwill is compared to the carrying value of that goodwill. If the carrying value of the reporting unit's goodwill exceeds the implied fair value of the goodwill, the Company recognizes an impairment loss in an amount equal to the excess, not to exceed the carrying value. Goodwill was $485 million and $473 million as of September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||
Warranty—Expected warranty costs for products sold are recognized at the time of sale of the product based on its estimate of the amount that eventually will be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. This estimate is adjusted from time to time based on facts and circumstances that impact the status of existing claims. Refer to Note 6. Warranty Obligations. | |||||||||||||||||||||
Restructuring—Delphi continually evaluates alternatives to align the business with the changing needs of its customers and to lower operating costs. This includes the realignment of its existing manufacturing capacity, facility closures, or similar actions, either in the normal course of business or pursuant to significant restructuring programs. These actions may result in employees receiving voluntary or involuntary employee termination benefits, which are mainly pursuant to union or other contractual agreements. Voluntary termination benefits are accrued when an employee accepts the related offer. Involuntary termination benefits are accrued upon the commitment to a termination plan and the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable, depending on the existence of a substantive plan for severance or termination. Contract termination costs are recorded when contracts are terminated or when Delphi ceases to use the leased facility and no longer derives economic benefit from the contract. All other exit costs are expensed as incurred. Refer to Note 7. Restructuring. | |||||||||||||||||||||
Customer concentrations—As reflected in the table below, net sales to GM and Volkswagen Group (“VW”), Delphi's two largest customers, totaled approximately 28% and 27% for the three and nine months ended September 30, 2013 and 29% and 29% for the three and nine months ended September 30, 2012 of our total net sales, respectively. | |||||||||||||||||||||
Percentage of Total Net Sales | Accounts and Other Receivables | ||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | September 30, | December 31, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||||||
GM | 18 | % | 18 | % | 17 | % | 18 | % | $ | 514 | $ | 382 | |||||||||
VW | 10 | % | 11 | % | 10 | % | 11 | % | 218 | 109 | |||||||||||
Recently issued accounting pronouncements—In December 2011, the Financial Accounting Standards Board (“FASB”) issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities. This guidance requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. In January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarified that the scope of ASU 2011-11 applies to derivatives and securities borrowing or lending transactions subject to an agreement similar to a master netting arrangement. The guidance is effective for annual periods beginning on or after January 1, 2013. Delphi adopted this guidance effective March 31, 2013 and applied it retrospectively for any period presented. Refer to Note 14. Derivatives and Hedging Activities for additional information. The adoption of this guidance did not have a significant impact on Delphi's financial statements. | |||||||||||||||||||||
In February 2013, the FASB issued ASU 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This guidance requires an organization to present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The guidance is effective for fiscal years beginning after December 15, 2012. Delphi adopted this guidance effective January 1, 2013. Refer to Note 13. Changes in Accumulated Other Comprehensive Income (Loss) for additional information. The adoption of this guidance did not have a significant impact on Delphi's financial statements. | |||||||||||||||||||||
In March 2013, the FASB issued ASU 2013-5, Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This guidance requires a reporting entity that ceases to have a controlling financial interest in a business with a foreign entity, other than a sale of in substance real estate or conveyance of oil and gas mineral rights, to release any related cumulative translation adjustment into net income. The guidance is effective for fiscal years beginning after December 15, 2013. The adoption of this guidance is not expected to have a significant impact on Delphi's financial statements. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
INVENTORIES | |||||||||
Inventories are stated at the lower of cost, determined on a first-in, first-out basis, or market, including direct material costs and direct and indirect manufacturing costs. A summary of inventories is shown below: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Productive material | $ | 675 | $ | 586 | |||||
Work-in-process | 145 | 128 | |||||||
Finished goods | 413 | 352 | |||||||
Total | $ | 1,233 | $ | 1,066 | |||||
Assets
Assets | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Assets | ' | ||||||||
ASSETS | |||||||||
Other current assets consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Value added tax receivable | $ | 181 | $ | 194 | |||||
Deferred income taxes | 153 | 148 | |||||||
Prepaid insurance and other expenses | 75 | 86 | |||||||
Reimbursable engineering costs | 63 | 52 | |||||||
Notes receivable | 44 | 22 | |||||||
Debt issuance costs (Note 8) | 10 | 17 | |||||||
Income and other taxes receivable | 74 | 47 | |||||||
Deposits to vendors | 11 | 15 | |||||||
Derivative financial instruments (Note 14) | 9 | 21 | |||||||
Other | 20 | 21 | |||||||
Total | $ | 640 | $ | 623 | |||||
Other long-term assets consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Deferred income taxes | $ | 269 | $ | 281 | |||||
Debt issuance costs (Note 8) | 46 | 55 | |||||||
Income and other taxes receivable | 102 | 88 | |||||||
Reimbursable engineering costs | 87 | 50 | |||||||
Value added tax receivable | 30 | 33 | |||||||
Derivative financial instruments (Note 14) | 4 | 6 | |||||||
Other | 60 | 69 | |||||||
Total | $ | 598 | $ | 582 | |||||
Liabilities
Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||
Liabilities | ' | ||||||||
LIABILITIES | |||||||||
Accrued liabilities consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Payroll-related obligations | $ | 305 | $ | 259 | |||||
Employee benefits, including current pension obligations | 102 | 123 | |||||||
Executive long-term incentive plan (Note 18) | — | 20 | |||||||
Income and other taxes payable | 210 | 261 | |||||||
Warranty obligations (Note 6) | 76 | 92 | |||||||
Restructuring (Note 7) | 119 | 118 | |||||||
Customer deposits | 29 | 35 | |||||||
Deferred income taxes | 16 | 12 | |||||||
Derivative financial instruments (Note 14) | 28 | 12 | |||||||
Accrued interest | 29 | 9 | |||||||
Dividends payable of consolidated affiliates to minority shareholders | 51 | — | |||||||
Other | 329 | 300 | |||||||
Total | $ | 1,294 | $ | 1,241 | |||||
Other long-term liabilities consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Environmental (Note 10) | $ | 20 | $ | 18 | |||||
Extended disability benefits | 13 | 12 | |||||||
Warranty obligations (Note 6) | 93 | 74 | |||||||
Restructuring (Note 7) | 31 | 45 | |||||||
Payroll-related obligations | 11 | 11 | |||||||
Accrued income taxes | 32 | 38 | |||||||
Deferred income taxes | 210 | 185 | |||||||
Derivative financial instruments (Note 14) | 10 | 1 | |||||||
Other | 43 | 50 | |||||||
Total | $ | 463 | $ | 434 | |||||
Warranty_Obligations
Warranty Obligations | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Product Warranties Disclosures [Abstract] | ' | |||
Warranty Obligations | ' | |||
WARRANTY OBLIGATIONS | ||||
Expected warranty costs for products sold are recognized at the time of sale of the product based on its estimate of the amount that eventually will be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. This estimate is adjusted from time to time based on facts and circumstances that impact the status of existing claims. Delphi has recognized its best estimate for its total aggregate warranty reserves across all of its operating segments as of September 30, 2013. The estimated reasonably possible amount to ultimately resolve all matters is not materially different from the recorded reserves as of September 30, 2013. | ||||
The table below summarizes the activity in the product warranty liability for the nine months ended September 30, 2013: | ||||
Warranty Obligations | ||||
(in millions) | ||||
Accrual balance at beginning of period | $ | 166 | ||
Provision for estimated warranties incurred during the period | 52 | |||
Provision for changes in estimate for pre-existing warranties | (2 | ) | ||
Settlements made during the period (in cash or in kind) | (50 | ) | ||
Foreign currency translation and other | 3 | |||
Accrual balance at end of period | $ | 169 | ||
In March 2011, Delphi reached a settlement with its customer related to warranty claims on certain components previously supplied by Delphi’s Powertrain segment and reflected a change in its previous estimate of probable loss as a result of the settlement agreement by recognizing $76 million of warranty expense in cost of sales. In April 2012, Delphi made the final scheduled payment of €60 million (approximately $80 million at April 30, 2012 exchange rates) related to this matter. |
Restructuring
Restructuring | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring | ' | ||||||||||||||||
RESTRUCTURING | |||||||||||||||||
Delphi’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing Delphi’s strategy, either in the normal course of business or pursuant to significant restructuring programs. | |||||||||||||||||
In the fourth quarter of 2012, Delphi initiated and committed to approximately $300 million of various restructuring programs which includes costs related to the integration of the Motorized Vehicle Division (“MVL”) acquisition that are intended to further improve Delphi's industry leading cost structure. As part of Delphi's continued efforts to optimize its cost structure, during the first quarter of 2013, an additional $75 million of restructuring actions were initiated, bringing the overall commitments of Delphi's restructuring programs to approximately $375 million. Approximately 80% of the restructuring actions are in Europe, including workforce reductions as well as plant closures, and are expected to be substantially completed during 2014. Approximately $170 million of the total restructuring was recognized in the fourth quarter of 2012, and in the three and nine months ended September 30, 2013 Delphi recorded employee related and other restructuring charges totaling $37 million and $95 million, respectively. Restructuring charges for employee separation and termination benefits are paid either over the severance period or in a lump sum in accordance with either statutory requirements or individual agreements. Delphi incurred cash expenditures for these restructuring actions of approximately $90 million in the nine months ended September 30, 2013, and expects future cash expenditures in 2013 of approximately $70 million. | |||||||||||||||||
The following table summarizes the restructuring charges recorded for the three and nine months ended September 30, 2013 and 2012 by operating segment: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
Segment | 2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | |||||||||||||||||
Electrical/Electronic Architecture | $ | 7 | $ | 1 | $ | 26 | $ | 6 | |||||||||
Powertrain Systems | 8 | — | 20 | 4 | |||||||||||||
Electronics and Safety | 19 | 1 | 44 | 3 | |||||||||||||
Thermal Systems | 3 | 1 | 5 | 4 | |||||||||||||
Total | $ | 37 | $ | 3 | $ | 95 | $ | 17 | |||||||||
The table below summarizes the activity in the restructuring liability for the nine months ended September 30, 2013: | |||||||||||||||||
Employee | Other Exit | Total | |||||||||||||||
Termination | Costs Liability | ||||||||||||||||
Benefits | |||||||||||||||||
Liability | |||||||||||||||||
(in millions) | |||||||||||||||||
Accrual balance at January 1, 2013 | $ | 157 | $ | 6 | $ | 163 | |||||||||||
Provision for estimated expenses incurred during the period | 94 | 1 | 95 | ||||||||||||||
Payments made during the period | (103 | ) | (3 | ) | (106 | ) | |||||||||||
Foreign currency and other | (2 | ) | — | (2 | ) | ||||||||||||
Accrual balance at September 30, 2013 | $ | 146 | $ | 4 | $ | 150 | |||||||||||
Debt
Debt | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||
Debt | ' | |||||||||||
DEBT | ||||||||||||
The following is a summary of debt outstanding, net of discounts of approximately $0 million and $4 million related to the Tranche A Term Loan and the Tranche B Term Loan, defined below, as of September 30, 2013 and December 31, 2012: | ||||||||||||
September 30, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Accounts receivable factoring | $ | — | $ | 19 | ||||||||
5.875%, senior notes, due 2019 | 500 | 500 | ||||||||||
6.125%, senior notes, due 2021 | 500 | 500 | ||||||||||
5.00%, senior notes, due 2023 | 800 | — | ||||||||||
Tranche A Term Loan, due 2018 | 568 | 567 | ||||||||||
Tranche B Term Loan, due 2017 | — | 772 | ||||||||||
Capital leases and other | 50 | 106 | ||||||||||
Total debt | 2,418 | 2,464 | ||||||||||
Less: current portion | (59 | ) | (140 | ) | ||||||||
Long-term debt | $ | 2,359 | $ | 2,324 | ||||||||
Credit Agreement | ||||||||||||
In March 2011, in conjunction with the redemption of membership interests from Class A and Class C membership interest holders, Delphi Corporation (the “Issuer”), a wholly-owned U.S. subsidiary of Delphi Automotive LLP, entered into a credit agreement with JPMorgan Chase Bank, N.A., as lead arranger and administrative agent, with respect to $3.0 billion in senior secured credit facilities (the “Original Credit Agreement”). The Original Credit Agreement was amended and restated on each of May 17, 2011, September 14, 2012 (as so amended and restated, the “2012 Credit Agreement”) and March 1, 2013. (The Original Credit Agreement and each amendment and restatement of the Original Credit Agreement are individually and collectively referred to herein as the “Credit Agreement”). The Original Credit Agreement provided for a senior secured 5-year term loan in an original amount of $258 million (the “Original Tranche A Term Loan” and, as subsequently modified from time to time, the “Tranche A Term Loan”), a senior secured 6-year term loan in an original amount of $950 million (the “Tranche B Term Loan”), and a $500 million revolving credit facility (as subsequently modified from time to time, the “Revolving Credit Facility”). Under the 2012 Credit Agreement, the Company increased the Revolving Credit Facility to $1.3 billion and the Original Tranche A Term Loan to $574 million. As a result of prior payments on the Tranche A Term Loan, the Company received incremental proceeds of $363 million under the 2012 Credit Agreement, which was used to pay a portion of the cost of acquiring MVL. On March 1, 2013, following the senior unsecured note issuance in February 2013 (as more fully described below), the Tranche B Term Loan was fully repaid, the Tranche A Term Loan was increased to $575 million, the Revolving Credit Facility was increased to $1.5 billion, and the terms of the Tranche A Term Loan and the Revolving Credit Facility were extended to March 1, 2018. These resulted in the recognition of a loss on debt extinguishment of $39 million during the nine months ended September 30, 2013. Approximately $14 million in issuance costs were paid in conjunction with the March 2013 amendment. Unamortized debt issuance costs associated with the Tranche A Term Loan and Revolving Credit Facility of $28 million are being amortized over the term of the Credit Agreement, as extended pursuant to the March 1, 2013 amendment. At September 30, 2013 the Revolving Credit Facility was undrawn and Delphi had approximately $10 million in letters of credit issued under the Credit Agreement. Letters of credit issued under the Credit Agreement reduce availability under the Revolving Credit Facility. | ||||||||||||
Loans under the Credit Agreement bear interest, at the Issuer’s option, at either (a) the Administrative Agent’s Alternate Base Rate (“ABR” as defined in the Credit Agreement) or (b) the London Interbank Offered Rate (“Adjusted LIBO Rate” as defined in the Credit Agreement) (“LIBOR”) plus in either case a percentage per annum as set forth in the table below (the “Applicable Rate”). The Tranche B Term Loan had a LIBOR floor of 1.00%. A comparison of the Applicable Rates under the 2012 Credit Agreement and current Credit Agreement is set forth below: | ||||||||||||
Credit Agreement (September 30, 2013) | 2012 Credit Agreement (December 31, 2012) | |||||||||||
LIBOR plus | ABR plus | LIBOR plus | ABR plus | |||||||||
Revolving Credit Facility | 1.5 | % | 0.5 | % | 2 | % | 1 | % | ||||
Tranche A Term Loan | 1.5 | % | 0.5 | % | 2 | % | 1 | % | ||||
Tranche B Term Loan | N/A | N/A | 2.5 | % | 1.5 | % | ||||||
The Applicable Rate under the Credit Agreement may increase or decrease from time to time based on changes in credit ratings with the minimum interest level of 1.00% and maximum level of 2.25%. Accordingly, the interest rate will fluctuate during the term of the Credit Agreement based on changes in the ABR, LIBOR or future changes in our corporate credit ratings. The Credit Agreement also requires that the Issuer pay certain commitment fees on the unused portion of the Revolving Credit Facility and certain letter of credit issuance and fronting fees. | ||||||||||||
The interest rate period with respect to LIBOR interest rate options can be set at one-, two-, three-, or six-months as selected by the Issuer in accordance with the terms of the Credit Agreement (or other period as may be agreed by the applicable lenders), but payable no less than quarterly. The Issuer may elect to change the selected interest rate in accordance with the provisions of the Credit Agreement. As of September 30, 2013, the Issuer selected the one-month LIBOR interest rate option, as detailed in the table below, and the amounts outstanding, and rates effective as of September 30, 2013 were based on Delphi’s current credit rating and applicable margin for the Credit Agreement: | ||||||||||||
Borrowings as of | Rates effective as of | |||||||||||
LIBOR plus | September 30, 2013 | September 30, 2013 | ||||||||||
Revolving Credit Facility | 1.5 | % | $ | — | — | % | ||||||
Tranche A Term Loan | 1.5 | % | 568 | 1.6875 | % | |||||||
The Issuer is obligated to make quarterly principal payments throughout the term of the Tranche A Term Loan according to the amortization schedule in the Credit Agreement. Borrowings under the Credit Agreement are prepayable at the Issuer's option without premium or penalty. The Credit Agreement also contains certain mandatory prepayment provisions in the event the Company receives net cash proceeds from any asset sale or casualty event. No mandatory prepayments under these provisions have been made or are due through September 30, 2013. | ||||||||||||
The Credit Agreement contains certain covenants that limit, among other things, the Company’s (and the Company’s subsidiaries’) ability to incur additional indebtedness or liens, to dispose of assets, to make certain investments, to prepay certain indebtedness and to pay dividends, or to make other distributions or redemptions/repurchases, in respect of the Company’s equity interests. In addition, the Credit Agreement requires that the Company maintain a consolidated leverage ratio (the ratio of Consolidated Total Indebtedness to Consolidated EBITDA, each as defined in the Credit Agreement) of less than 2.75 to 1.0. The Credit Agreement also contains events of default customary for financings of this type. The Company was in compliance with the Credit Agreement covenants as of September 30, 2013. At any time when Delphi Automotive PLC and Delphi Corporation have received investment grade credit ratings as specified in the Credit Agreement and other conditions in the Credit Agreement are met, all security interests on the collateral will be released, subject to potential reinstatement if the investment grade condition ceases to be satisfied. In addition, certain covenants shall not apply after Delphi Automotive PLC and Delphi Corporation have received investment grade credit ratings as specified in the Credit Agreement and no default has occurred or is continuing, provided that such covenants may be reinstated if the investment grade condition ceases to be satisfied. | ||||||||||||
All obligations under the Credit Agreement are borrowed by Delphi Corporation and jointly and severally guaranteed by its direct and indirect parent companies and by certain of Delphi Automotive PLC’s existing and future direct and indirect subsidiaries, subject to certain exceptions set forth in the Credit Agreement. All obligations under the Credit Agreement, including the guarantees of those obligations, are secured by certain assets of Delphi Corporation and the guarantors, including substantially all of the assets of Delphi Automotive PLC, and its U.S. subsidiaries, and certain assets of Delphi Corporation’s direct and indirect parent companies. | ||||||||||||
Senior Notes | ||||||||||||
On May 17, 2011, Delphi Corporation issued $500 million of 5.875% senior unsecured notes due 2019 and $500 million of 6.125% senior unsecured notes due 2021 (the “2011 Senior Notes”) in a transaction exempt from registration under Rule 144A and Regulation S of the Securities Act of 1933 (the “Securities Act”). Delphi paid approximately $23 million of debt issuance costs in connection with the 2011 Senior Notes. The net proceeds of approximately $1 billion as well as cash on hand were used to pay down amounts outstanding under the Original Credit Agreement. In May 2012, Delphi Corporation exchanged all of the 2011 Senior Notes for registered notes (“New Senior Notes”) with terms identical in all material respects to the terms of the 2011 Senior Notes, except that the New Senior Notes are registered under the Securities Act, and the transfer restrictions and registration rights relating to the 2011 Senior Notes no longer apply. No proceeds were received by Delphi Corporation as a result of the exchange. Interest is payable semi-annually on May 15 and November 15 of each year to holders of record at the close of business on May 1 or November 1 immediately preceding the interest payment date. | ||||||||||||
The indenture governing the New Senior Notes limits, among other things, Delphi’s (and Delphi’s subsidiaries’) ability to incur additional indebtedness or liens, dispose of assets, make certain restricted payments or investments, enter into transactions with affiliates and merge with or into other entities. As of September 30, 2013, the Company was in compliance with the provisions of the New Senior Notes. | ||||||||||||
On February 14, 2013, Delphi Corporation issued $800 million of 5.00% senior unsecured notes due 2023 (the “2013 Senior Notes”) in a transaction registered under the Securities Act. The proceeds were primarily utilized to prepay our term loan indebtedness under our 2012 Credit Agreement. Delphi paid approximately $12 million of issuance costs in connection with the 2013 Senior Notes. Interest is payable semi-annually on February 15 and August 15 of each year to holders of record at the close of business on February 1 or August 1 immediately preceding the interest payment date. | ||||||||||||
The indenture governing the 2013 Senior Notes limits, among other things, Delphi’s (and Delphi’s subsidiaries’) ability to incur liens, enter into sale and leaseback transactions and merge with or into other entities. As of September 30, 2013, the Company was in compliance with the provisions of the 2013 Senior Notes. | ||||||||||||
The senior notes are fully and unconditionally guaranteed, jointly and severally, by Delphi Automotive PLC and certain of its existing and future subsidiaries, subject to customary release provisions (other than in the case of Delphi Automotive PLC). | ||||||||||||
Other Financing | ||||||||||||
Accounts receivable factoring—Various accounts receivable factoring facilities are maintained in Europe and are accounted for as short-term debt. These factoring facilities are available through various financial institutions. Additionally, during the three months ended September 30, 2013, Delphi entered into a new accounts receivable factoring agreement in Europe to replace and consolidate current European factoring facilities. The new agreement is a €350 million committed facility and borrowings under the new program are subject to the availability of eligible accounts receivable. As of September 30, 2013 and December 31, 2012, $0 million and $19 million, respectively, were outstanding under European accounts receivable factoring facilities. | ||||||||||||
Capital leases and other—As of September 30, 2013 and December 31, 2012, approximately $50 million and approximately $106 million, respectively, of other debt issued by certain non-U.S. subsidiaries and capital lease obligations were outstanding. | ||||||||||||
Interest—Cash paid for interest related to amounts outstanding totaled $78 million and $74 million for the nine months ended September 30, 2013 and 2012, respectively. |
Pension_Benefits
Pension Benefits | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Pension Benefits | ' | |||||||||||||||
PENSION BENEFITS | ||||||||||||||||
Certain of Delphi’s non-U.S. subsidiaries sponsor defined benefit pension plans, which generally provide benefits based on negotiated amounts for each year of service. Delphi’s primary non-U.S. plans are located in France, Germany, Mexico, Portugal and the United Kingdom (“U.K.”). The U.K. and certain Mexican plans are funded. In addition, Delphi has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded based on the vested obligation. | ||||||||||||||||
Delphi sponsors a Supplemental Executive Retirement Program (“SERP”) for those employees who were U.S. executives of the Predecessor prior to September 30, 2008 and were U.S. executives of Delphi on October 7, 2009, the effective date of the program. This program is unfunded. Executives receive benefits over 5 years after an involuntary or voluntary separation from Delphi. The SERP is closed to new members and was frozen effective September 30, 2008. | ||||||||||||||||
The amounts shown below reflect the defined benefit pension expense for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Non-U.S. Plans | U.S. Plans | |||||||||||||||
Three Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Service cost | $ | 13 | $ | 11 | $ | — | $ | — | ||||||||
Interest cost | 22 | 22 | — | — | ||||||||||||
Expected return on plan assets | (17 | ) | (17 | ) | — | — | ||||||||||
Amortization of actuarial losses | 1 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 19 | $ | 16 | $ | — | $ | — | ||||||||
Non-U.S. Plans | U.S. Plans | |||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Service cost | $ | 41 | $ | 34 | $ | — | $ | — | ||||||||
Interest cost | 65 | 63 | 1 | 2 | ||||||||||||
Expected return on plan assets | (52 | ) | (50 | ) | — | — | ||||||||||
Amortization of actuarial losses | 5 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 59 | $ | 47 | $ | 1 | $ | 2 | ||||||||
Other postretirement benefit obligations were approximately $10 million and $15 million at September 30, 2013 and December 31, 2012, respectively. |
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Environmental Matters | |
Delphi is subject to the requirements of U.S. federal, state, local and non-U.S. environmental and safety and health laws and regulations. As of September 30, 2013 and December 31, 2012, the undiscounted reserve for environmental investigation and remediation was approximately $23 million (of which $3 million was recorded in accrued liabilities and $20 million was recorded in other long-term liabilities) and $21 million (of which $3 million was recorded in accrued liabilities and $18 million was recorded in other long-term liabilities). Delphi cannot ensure that environmental requirements will not change or become more stringent over time or that its eventual environmental remediation costs and liabilities will not exceed the amount of its current reserves. In the event that such liabilities were to significantly exceed the amounts recorded, Delphi’s results of operations could be materially affected. At September 30, 2013, the difference between the recorded liabilities and the reasonably possible range of loss was not material. | |
Ordinary Business Litigation | |
Delphi is from time to time subject to various legal actions and claims incidental to its business, including those arising out of alleged defects, alleged breaches of contracts, product warranties, intellectual property matters, and employment-related matters. It is the opinion of Delphi that the outcome of such matters will not have a material adverse impact on the consolidated financial position, results of operations, or cash flows of Delphi. With respect to warranty matters, although Delphi cannot ensure that the future costs of warranty claims by customers will not be material, Delphi believes its established reserves are adequate to cover potential warranty settlements. | |
Brazil Matters | |
Delphi conducts significant business operations in Brazil that are subject to the Brazilian federal labor, social security, environmental, tax and customs laws, as well as a variety of state and local laws. While Delphi believes it complies with such laws, they are complex, subject to varying interpretations, and the Company is often engaged in litigation with government agencies regarding the application of these laws to particular circumstances. As of September 30, 2013, the majority of claims asserted against Delphi in Brazil relate to such litigation. The remaining claims relate to commercial and labor litigation with private parties in Brazil. As of September 30, 2013, claims totaling approximately $200 million (using September 30, 2013 foreign currency rates) have been asserted against Delphi in Brazil. As of September 30, 2013, the Company maintains accruals for these asserted claims of $33 million (using September 30, 2013 foreign currency rates). The amounts accrued represent claims that are deemed probable of loss and are reasonably estimable based on the Company’s analyses and assessment of the asserted claims and prior experience with similar matters. While the Company believes its accruals are adequate, the final amounts required to resolve these matters could differ materially from the Company’s recorded estimates and Delphi’s results of operations could be materially affected. |
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
INCOME TAXES | |||||||||
For purposes of comparability and consistency, the Company uses the notional U.S. federal income tax rate when presenting the Company’s reconciliation of the income tax provision. The Company is a U.K. resident taxpayer and as such is not generally subject to U.K. tax on remitted foreign earnings. As a result, the Company does not anticipate foreign earnings would be subject to a 35% tax rate upon repatriation to the U.K., as is the case when U.S. based companies repatriate earnings to the U.S. A reconciliation of the provision for income taxes compared with the amounts at the notional U.S. federal statutory rate was: | |||||||||
Nine Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Notional U.S. federal income taxes at statutory rate | $ | 398 | $ | 425 | |||||
Income taxed at other rates | (219 | ) | (192 | ) | |||||
Change in valuation allowance | — | (1 | ) | ||||||
Other change in tax reserves | (5 | ) | (12 | ) | |||||
Withholding taxes | 38 | 11 | |||||||
Tax credits | (48 | ) | (12 | ) | |||||
Change in tax law | 12 | 6 | |||||||
Other adjustments | 6 | 2 | |||||||
Total income tax expense | $ | 182 | $ | 227 | |||||
Effective tax rate | 16 | % | 19 | % | |||||
The Company’s tax rate is affected by the tax rates in the jurisdictions in which the Company operates, the relative amount of income earned by jurisdiction, jurisdictions with a statutory tax rate less than the U.S. rate of 35% and the relative amount of losses or income for which no tax benefit or expense was recognized due to a valuation allowance. The Company's geographic income mix was favorably impacted in 2013, as compared to 2012, primarily due to tax planning initiatives. | |||||||||
The effective tax rate was 16% and 19% for the nine months ended September 30, 2013 and 2012, respectively. The American Taxpayer Relief Act of 2012 was enacted on January 2, 2013 which retroactively reinstates expired tax provisions known as tax extenders including the research and development tax credit. The income tax accounting effect, including any retroactive effect, of a tax law change is accounted for in the period of enactment, which in this case was the first quarter of 2013. As a result, the effective tax rate for the nine months ended September 30, 2013 was impacted by a benefit of approximately $22 million related to the 2012 research and development credit in addition to the 2013 research and development credit. On July 17, 2013, the United Kingdom-Finance Bill of 2013 became law as the Finance Act 2013 (the "U.K. Finance Act"). The U.K. Finance Act provides for a reduction to the corporate income tax rate from 23% to 21% effective April 1, 2014, with a further reduction to 20% effective April 1, 2015. The impact of this legislation was recorded as a discrete item during the third quarter of 2013, the period of enactment, and resulted in increased tax expense of approximately $12 million for the nine months ended September 30, 2013 due to the resultant impact on the net deferred tax asset balances. The effective tax rate in the nine months ended September 30, 2012 was impacted by a reduction of $22 million in tax reserves due to resolution of open issues with tax authorities, an increase of $10 million primarily related to non-U.S. transfer pricing positions, an increase of $6 million related to a reduction to the corporate income tax rate in the United Kingdom from 25% to 23% and a reduction of $14 million in withholding tax expense related to 2012 non-U.S. tax planning actions. | |||||||||
Cash paid or withheld for income taxes was $215 million and $228 million for the nine months ended September 30, 2013 and 2012 respectively. | |||||||||
Tax Return Filing Determinations and Elections | |||||||||
Delphi Automotive LLP, which acquired certain businesses of the Predecessor on October 6, 2009, the Acquisition Date, was established on August 19, 2009 as a limited liability partnership incorporated under the laws of England and Wales. At the time of its formation, Delphi Automotive LLP elected to be treated as a partnership for U.S. federal income tax purposes. The Company believes the Internal Revenue Service (the “IRS”) may assert that Delphi Automotive LLP, and as a result Delphi Automotive PLC, should be treated as a domestic corporation for U.S. federal income tax purposes, retroactive to the Acquisition Date. If Delphi Automotive LLP were treated as a domestic corporation for U.S. federal income tax purposes, the Company expects that, although Delphi Automotive PLC is incorporated under the laws of Jersey and a tax resident in the U.K., it would also be treated as a domestic corporation for U.S. federal income tax purposes. | |||||||||
Delphi Automotive LLP filed U.S. federal partnership tax returns for 2009, 2010, and 2011. The IRS is currently reviewing whether Section 7874 applies to Delphi Automotive LLP’s acquisition of the automotive supply and other businesses of the Predecessor. The Company believes, after consultation with counsel, that neither Delphi Automotive LLP nor Delphi Automotive PLC should be treated as a domestic corporation for U.S. federal income tax purposes, and intends to vigorously contest any assertion by the IRS to the contrary, including through litigation if the Company were unable to reach a satisfactory resolution with the IRS. However, no assurance can be given that the IRS will not contend, or that a court would not conclude, that Delphi Automotive LLP, and therefore Delphi Automotive PLC, should be treated as a domestic corporation for U.S. federal income tax purposes. No accrual for this matter has been recorded as of September 30, 2013. | |||||||||
If these entities were treated as domestic corporations for U.S. federal income tax purposes, the Company would be subject to U.S. federal income tax on its worldwide taxable income, including distributions, as well as deemed income inclusions from some of its non-U.S. subsidiaries. This could have a material adverse impact on our income tax liability in the future. However, the Company may also benefit from deducting certain expenses that are currently not deducted in the U.S. As a U.S. company, any dividends we pay to non-U.S. shareholders could also be subject to U.S. federal income tax withholding at a rate of 30% (unless reduced or eliminated by an income tax treaty), and it is possible that tax may be withheld on such dividends in certain circumstances even before a final determination has been made with respect to the Company's U.S. income tax status. In addition, we could be liable for the failure by Delphi Automotive LLP to withhold U.S. federal income taxes on distributions to its non-U.S. members for periods beginning on or after the Acquisition Date. |
Shareholders_Equity_And_Net_In
Shareholders' Equity And Net Income Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Shareholders' Equity and Net Income Per Share Note [Abstract] | ' | |||||||||||||||
Shareholders' Equity And Net Income Per Share | ' | |||||||||||||||
SHAREHOLDERS’ EQUITY AND NET INCOME PER SHARE | ||||||||||||||||
Overview | ||||||||||||||||
On May 19, 2011, Delphi Automotive PLC was formed as a Jersey public limited company, and had nominal assets, no liabilities and had conducted no operations prior to its initial public offering. On November 22, 2011, in conjunction with the completion of its initial public offering, all of the outstanding equity of Delphi Automotive LLP was exchanged for 328,244,510 ordinary shares, par value $0.01 in Delphi Automotive PLC. As a result, Delphi Automotive LLP became a wholly-owned subsidiary of Delphi Automotive PLC, and subsequent to the exchange, Delphi Automotive PLC completed the initial public offering of 24,078,827 ordinary shares by the selling shareholders for an aggregate purchase price of approximately $530 million. Delphi Automotive PLC did not receive any proceeds from the offering, and incurred transaction fees and expenses of approximately $44 million. | ||||||||||||||||
Net Income Per Share | ||||||||||||||||
Basic net income per share is computed by dividing net income attributable to Delphi by the weighted average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Delphi by the diluted weighted average number of ordinary shares outstanding. For all periods presented, the calculation of net income per share contemplates the dilutive impacts, if any, of the Company’s share-based compensation plans. Refer to Note 18. Share-Based Compensation for additional information. For all applicable periods presented, the effect of the Value Creation Plan (“VCP”) awards was anti-dilutive and therefore excluded from the calculation of diluted net income per share, as discussed in Note 18. Share-Based Compensation. | ||||||||||||||||
Weighted Average Shares | ||||||||||||||||
The following table illustrates net income per share attributable to Delphi and the weighted average shares outstanding used in calculating basic and diluted income per share: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions, except per share data) | ||||||||||||||||
Numerator: | ||||||||||||||||
Net income attributable to Delphi | $ | 271 | $ | 269 | $ | 914 | $ | 941 | ||||||||
Denominator: | ||||||||||||||||
Weighted average ordinary shares outstanding, basic | 309.68 | 320.93 | 312.08 | 325 | ||||||||||||
Dilutive shares related to Restricted Stock Units ("RSUs") | 0.94 | 0.35 | 0.79 | 0.28 | ||||||||||||
Weighted average ordinary shares outstanding, including dilutive shares | 310.62 | 321.28 | 312.87 | 325.28 | ||||||||||||
Net income per share attributable to Delphi: | ||||||||||||||||
Basic | $ | 0.88 | $ | 0.84 | $ | 2.93 | $ | 2.89 | ||||||||
Diluted | $ | 0.87 | $ | 0.84 | $ | 2.92 | $ | 2.89 | ||||||||
Anti-dilutive securities share impact: | — | 3.5 | — | 3.16 | ||||||||||||
Share Repurchase Program | ||||||||||||||||
In January 2012, the Board of Directors authorized a share repurchase program of up to $300 million of ordinary shares. The program was scheduled to terminate on the earlier of December 31, 2012 or when the Company attained $300 million of ordinary share repurchases, which was fully satisfied in September 2012. Subsequently, in September 2012, the Board of Directors authorized a new share repurchase program of up to $750 million of ordinary shares. This program will terminate when the Company attains $750 million of ordinary share repurchases and provides for share repurchases in the open market or in privately negotiated transactions, depending on share price, market conditions and other factors, as determined by the Company. A summary of the ordinary shares repurchased during the three and nine months ended September 30, 2013 and September 30, 2012 is as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Total Number of Shares Repurchased | 2,120,000 | 5,443,213 | 7,415,583 | 10,740,453 | ||||||||||||
Average Price Paid per Share | $ | 56.5 | $ | 29.78 | $ | 48.8 | $ | 29.08 | ||||||||
Total (in millions) | $ | 120 | $ | 162 | $ | 362 | $ | 312 | ||||||||
As of September 30, 2013, approximately $285 million of share repurchases remained available under the program adopted in September 2012. Additionally, during the period from October 1, 2013 to October 31, 2013, the Company repurchased 397,589 shares at a weighted average share price of $57.85 pursuant to an automatic trading plan with set trading instructions established by the Company, leaving approximately $262 million remaining available under the September 2012 share repurchase program. All repurchased shares were retired, and are reflected as a reduction of ordinary share capital for the par value of the shares, with the excess applied as reductions to additional paid-in capital and retained earnings. | ||||||||||||||||
Dividends | ||||||||||||||||
On February 26, 2013, the Board of Directors approved the initiation of dividend payments on its ordinary shares and declared a regular quarterly cash dividend. During the nine months ended September 30, 2013, the Company declared and paid cash dividends per common share as follows: | ||||||||||||||||
2013 | ||||||||||||||||
Dividend | Amount | |||||||||||||||
Three months ended: | Per Share | (in millions) | ||||||||||||||
30-Sep | $ | 0.17 | $ | 53 | ||||||||||||
30-Jun | 0.17 | 53 | ||||||||||||||
31-Mar | 0.17 | 53 | ||||||||||||||
Total | $ | 0.51 | $ | 159 | ||||||||||||
Other | ||||||||||||||||
Prior to the completion of the initial public offering on November 22, 2011, net income and other changes to membership interests were allocated to the respective outstanding classes based on the cumulative distribution provisions of the Fourth Amended and Restated Limited Liability Partnership Agreement of Delphi Automotive LLP (the “Fourth LLP Agreement”). | ||||||||||||||||
Under the terms of the Acquisition and the Fourth LLP Agreement, if cumulative distributions to the members of Delphi Automotive LLP under certain provisions of the Fourth LLP Agreement exceed $7.2 billion, Delphi, as disbursing agent on behalf of DPHH, is required to pay to the holders of allowed general unsecured claims against the Predecessor, $32.50 for every $67.50 in excess of $7.2 billion distributed to the members, up to a maximum amount of $300 million. This contingency is not considered probable of occurring as of September 30, 2013. |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||||
Changes in Accumulated Other Comprehensive Income | ' | |||||||||||||||
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||
The changes in accumulated other comprehensive income (loss) attributable to Delphi (net of tax) for the three and nine months ended September 30, 2013 and September 30, 2012 are as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||
Balance at beginning of period | $ | (179 | ) | $ | (193 | ) | $ | (62 | ) | $ | (120 | ) | ||||
Aggregate adjustment for the period | 110 | 82 | (7 | ) | 9 | |||||||||||
Balance at end of period | (69 | ) | (111 | ) | (69 | ) | (111 | ) | ||||||||
Gains (losses) on derivatives: | ||||||||||||||||
Balance at beginning of period | $ | (25 | ) | $ | (9 | ) | $ | 14 | $ | (45 | ) | |||||
Other comprehensive income before reclassifications (net tax effect of $10 million, $15 million, $9 million and $35 million) | 4 | 24 | (29 | ) | 59 | |||||||||||
Reclassification to income (net tax effect of $5 million, $0 million, $1 million and $1 million) | 6 | 2 | — | 3 | ||||||||||||
Balance at end of period | (15 | ) | 17 | (15 | ) | 17 | ||||||||||
Pension and postretirement plans: | ||||||||||||||||
Balance at beginning of period | $ | (173 | ) | $ | (19 | ) | $ | (189 | ) | $ | (18 | ) | ||||
Other comprehensive income before reclassifications (net tax effect of $2 million, $0 million, $2 million and $0 million) | (7 | ) | — | 6 | (1 | ) | ||||||||||
Reclassification to income (net tax effect of $0 million, $0 million, $1 million and $0 million) | 2 | (1 | ) | 5 | (1 | ) | ||||||||||
Balance at end of period | (178 | ) | (20 | ) | (178 | ) | (20 | ) | ||||||||
Accumulated other comprehensive (loss) income, end of period | (262 | ) | (114 | ) | (262 | ) | (114 | ) | ||||||||
Reclassifications from accumulated other comprehensive income to income for the three and nine months ended September 30, 2013 were as follows: | ||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | ||||||||||||||||
Details about Accumulated Other Comprehensive Income Components | Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | Affected Line Item in the Statement of Operations | |||||||||||||
(in millions) | ||||||||||||||||
Gains (losses) on derivatives: | ||||||||||||||||
Commodity derivatives | $ | (8 | ) | $ | (17 | ) | Cost of Sales | |||||||||
Foreign currency derivatives | 5 | 19 | Cost of Sales | |||||||||||||
Foreign currency derivatives | (8 | ) | (3 | ) | Other Income | |||||||||||
(11 | ) | (1 | ) | Total loss before income taxes | ||||||||||||
5 | 1 | Income tax benefit (expense) | ||||||||||||||
(6 | ) | — | Net loss | |||||||||||||
— | — | Net income attributable to noncontrolling interest | ||||||||||||||
$ | (6 | ) | $ | — | Net loss attributable to Delphi | |||||||||||
Pension and postretirement plans: | ||||||||||||||||
Actuarial gains/(losses) | $ | (2 | ) | $ | (6 | ) | -1 | |||||||||
(2 | ) | (6 | ) | Total loss before income taxes | ||||||||||||
— | 1 | Income tax benefit | ||||||||||||||
(2 | ) | (5 | ) | Net loss | ||||||||||||
— | — | Net income attributable to noncontrolling interest | ||||||||||||||
$ | (2 | ) | $ | (5 | ) | Net loss attributable to Delphi | ||||||||||
Total reclassifications for the period | $ | (8 | ) | $ | (5 | ) | ||||||||||
-1 | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 9. Pension Benefits for additional details). |
Derivatives_And_Hedging_Activi
Derivatives And Hedging Activities | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | ||||||||||||||
DERIVATIVES AND HEDGING ACTIVITIES | |||||||||||||||
Delphi is exposed to market risk, such as fluctuations in foreign currency exchange rates, commodity prices and changes in interest rates, which may result in cash flow risks. To manage the volatility relating to these exposures, Delphi aggregates the exposures on a consolidated basis to take advantage of natural offsets. For exposures that are not offset within its operations, Delphi enters into various derivative transactions pursuant to its risk management policies, which prohibit holding or issuing derivative financial instruments for speculative purposes, and designation of derivative instruments is performed on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments are offset in part or in whole by corresponding changes in the fair value or cash flows of the underlying exposures being hedged. Delphi assesses the initial and ongoing effectiveness of its hedging relationships in accordance with its documented policy. As of September 30, 2013, Delphi has entered into derivative instruments to hedge cash flows extending out to October 2015. | |||||||||||||||
As of September 30, 2013, the Company had the following outstanding notional amounts related to commodity and foreign currency forward contracts that were entered into to hedge forecasted exposures: | |||||||||||||||
Commodity | Quantity | Unit of | |||||||||||||
Hedged | Measure | ||||||||||||||
(in thousands) | |||||||||||||||
Copper | 87,633 | pounds | |||||||||||||
Primary Aluminum | 34,425 | pounds | |||||||||||||
Secondary Aluminum | 19,021 | pounds | |||||||||||||
Foreign Currency | Quantity | Unit of | Notional Amount | ||||||||||||
Hedged | Measure | (Approximate USD Equivalent) | |||||||||||||
(in millions) | |||||||||||||||
Mexican Peso | 10,856 | MXN | $ | 830 | |||||||||||
Euro | 181 | EUR | 245 | ||||||||||||
Polish Zloty | 322 | PLN | 105 | ||||||||||||
New Turkish Lira | 214 | TRY | 105 | ||||||||||||
Brazilian Real | 193 | BRL | 85 | ||||||||||||
Chinese Yuan Renminbi | 406 | CNY | 65 | ||||||||||||
Hungarian Forint | 10,877 | HUF | 50 | ||||||||||||
Romanian Leu | 138 | RON | 40 | ||||||||||||
The Company had additional commodity and foreign currency forward contracts with notional amounts that individually amounted to less than $10 million. | |||||||||||||||
The fair value of derivative financial instruments recorded in the consolidated balance sheets as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||||||||
Asset Derivatives | Liability Derivatives | Net Amounts of Assets and Liabilities Presented in the Balance Sheet | |||||||||||||
Balance Sheet Location | September 30, | Balance Sheet Location | September 30, | September 30, | |||||||||||
2013 | 2013 | 2013 | |||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | Other Current Assets | $ | 1 | Accrued Liabilities | $ | 16 | |||||||||
Foreign currency derivatives* | Other Current Assets | 8 | Other Current Assets | 2 | 6 | ||||||||||
Foreign currency derivatives* | Accrued Liabilities | 5 | Accrued Liabilities | 15 | (10 | ) | |||||||||
Commodity derivatives | Other Long-Term Assets | 1 | Other Long-Term Liabilities | 4 | |||||||||||
Foreign currency derivatives* | Other Long-Term Assets | 4 | Other Long-Term Assets | 1 | 3 | ||||||||||
Foreign currency derivatives* | Other Long-Term Liabilities | 1 | Other Long-Term Liabilities | 7 | (6 | ) | |||||||||
Total | $ | 20 | $ | 45 | |||||||||||
Derivatives not designated: | |||||||||||||||
Foreign currency derivatives* | Other Current Assets | $ | 3 | Other Current Assets | $ | 1 | 2 | ||||||||
Foreign currency derivatives* | Accrued Liabilities | — | Accrued Liabilities | 2 | (2 | ) | |||||||||
Total | $ | 3 | $ | 3 | |||||||||||
Asset Derivatives | Liability Derivatives | Net Amounts of Assets and Liabilities Presented in the Balance Sheet | |||||||||||||
Balance Sheet Location | December 31, 2012 | Balance Sheet Location | December 31, 2012 | December 31, 2012 | |||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | Other Current Assets | $ | 2 | Accrued Liabilities | $ | 7 | |||||||||
Foreign currency derivatives* | Other Current Assets | 24 | Other Current Assets | 5 | 19 | ||||||||||
Foreign currency derivatives* | Accrued Liabilities | — | Accrued Liabilities | 5 | (5 | ) | |||||||||
Commodity derivatives | Other Long-Term Assets | 1 | Other Long-Term Liabilities | 1 | |||||||||||
Foreign currency derivatives* | Other Long-Term Assets | 7 | Other Long-Term Assets | 2 | 5 | ||||||||||
Total | $ | 34 | $ | 20 | |||||||||||
Derivatives not designated: | |||||||||||||||
None | |||||||||||||||
* Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts. | |||||||||||||||
The fair value of Delphi’s derivative financial instruments was in a net liability position as of September 30, 2013 and net asset position as of December 31, 2012. The change from a net asset as of December 31, 2012 to a net liability position at September 30, 2013 is primarily due to unfavorable movements in the forward rates of certain foreign currencies and commodities. | |||||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2013 is as follows: | |||||||||||||||
Three Months Ended September 30, 2013 | Gain (Loss) | Loss | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | 24 | $ | (8 | ) | $ | — | ||||||||
Foreign currency derivatives | (10 | ) | (3 | ) | — | ||||||||||
Total | $ | 14 | $ | (11 | ) | $ | — | ||||||||
Gain | |||||||||||||||
Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | 1 | ||||||||||||||
Total | $ | 1 | |||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2012 is as follows: | |||||||||||||||
Three Months Ended September 30, 2012 | Gain | (Loss) Gain | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | 15 | $ | (7 | ) | $ | — | ||||||||
Foreign currency derivatives | 24 | 5 | — | ||||||||||||
Total | $ | 39 | $ | (2 | ) | $ | — | ||||||||
Loss | |||||||||||||||
Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | (1 | ) | |||||||||||||
Total | $ | (1 | ) | ||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2013 is as follows: | |||||||||||||||
Nine Months Ended September 30, 2013 | Loss | (Loss) Gain | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | (31 | ) | $ | (17 | ) | $ | — | |||||||
Foreign currency derivatives | (7 | ) | 16 | — | |||||||||||
Total | $ | (38 | ) | $ | (1 | ) | $ | — | |||||||
Gain Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | 1 | ||||||||||||||
Total | $ | 1 | |||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2012 is as follows: | |||||||||||||||
Nine Months Ended September 30, 2012 | Gain | (Loss) Gain | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | 19 | $ | (9 | ) | $ | — | ||||||||
Foreign currency derivatives | 75 | 5 | 1 | ||||||||||||
Total | $ | 94 | $ | (4 | ) | $ | 1 | ||||||||
Loss | |||||||||||||||
Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | (5 | ) | |||||||||||||
Total | $ | (5 | ) | ||||||||||||
The gain or loss reclassified from OCI into income for the effective portion of designated derivative instruments and the gain or loss recognized in income for the ineffective portion of designated derivative instruments excluded from effectiveness testing were recorded to cost of sales and other income in the consolidated statements of operations for the three and nine months ended September 30, 2013 and 2012. The gain or loss recognized in income for non-designated derivative instruments was recorded in other income, net and cost of goods sold for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||
Gains and losses on derivatives qualifying as cash flow hedges are recorded in OCI, to the extent that hedges are effective, until the underlying transactions are recognized in earnings. Unrealized amounts in accumulated OCI will fluctuate based on changes in the fair value of hedge derivative contracts at each reporting period. Loss included in accumulated OCI as of September 30, 2013 was approximately $16 million (approximately $15 million net of tax). Of this loss, approximately $11 million is expected to be included in cost of sales within the next 12 months, $1 million is expected to be included in other income within the next 12 months and $4 million is expected to be included in cost of sales in subsequent periods. Cash flow hedges are discontinued when Delphi determines it is no longer probable that the originally forecasted transactions will occur. The amount included in cost of sales related to hedge ineffectiveness was insignificant for the three and nine months ended September 30, 2013 and 2012, respectively. |
Fair_Value_Of_Financial_Instru
Fair Value Of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||
All derivative instruments are required to be reported on the balance sheet at fair value unless the transactions qualify and are designated as normal purchases or sales. Changes in fair value are reported currently through earnings unless they meet hedge accounting criteria. Delphi’s derivative exposures are with counterparties with long-term investment grade credit ratings. Delphi estimates the fair value of its derivative contracts using an income approach based on valuation techniques to convert future amounts to a single, discounted amount. Estimates of the fair value of foreign currency and commodity derivative instruments are determined using exchange traded prices and rates. Delphi also considers the risk of non-performance in the estimation of fair value, and includes an adjustment for non-performance risk in the measure of fair value of derivative instruments. The non-performance risk adjustment reflects the credit default spread (“CDS”) applied to the net commodity by counterparty and foreign currency exposures by counterparty. When Delphi is in a net derivative asset position, the counterparty CDS rates are applied to the net derivative asset position. When Delphi is in a net derivative liability position, estimates of peer companies’ CDS rates are applied to the net derivative liability position. | |||||||||||||||||
In certain instances where market data is not available, Delphi uses management judgment to develop assumptions that are used to determine fair value. This could include situations of market illiquidity for a particular currency or commodity or where observable market data may be limited. In those situations, Delphi generally surveys investment banks and/or brokers and utilizes the surveyed prices and rates in estimating fair value. | |||||||||||||||||
As of September 30, 2013 and December 31, 2012, Delphi was in a net derivative liability position of $25 million and a net asset position of $14 million, respectively, and no significant adjustments were recorded for nonperformance risk based on the application of peer companies’ CDS rates and because Delphi’s exposures were to counterparties with investment grade credit ratings. | |||||||||||||||||
As of September 30, 2013 and December 31, 2012, Delphi had the following assets measured at fair value on a recurring basis: | |||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
Level 1 | Level 2 | Inputs | |||||||||||||||
Level 3 | |||||||||||||||||
(in millions) | |||||||||||||||||
As of September 30, 2013 | |||||||||||||||||
Commodity derivatives | $ | 2 | $ | — | $ | 2 | $ | — | |||||||||
Foreign currency derivatives | 11 | — | 11 | — | |||||||||||||
Total | $ | 13 | $ | — | $ | 13 | $ | — | |||||||||
As of December 31, 2012: | |||||||||||||||||
Commodity derivatives | $ | 3 | $ | — | $ | 3 | $ | — | |||||||||
Foreign currency derivatives | 24 | — | 24 | — | |||||||||||||
Total | $ | 27 | $ | — | $ | 27 | $ | — | |||||||||
As of September 30, 2013 and December 31, 2012, Delphi had the following liabilities measured at fair value on a recurring basis: | |||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
Level 1 | Level 2 | Inputs | |||||||||||||||
Level 3 | |||||||||||||||||
(in millions) | |||||||||||||||||
As of September 30, 2013 | |||||||||||||||||
Commodity derivatives | $ | 20 | $ | — | $ | 20 | $ | — | |||||||||
Foreign currency derivatives | 18 | — | 18 | — | |||||||||||||
Total | $ | 38 | $ | — | $ | 38 | $ | — | |||||||||
As of December 31, 2012: | |||||||||||||||||
Commodity derivatives | $ | 8 | $ | — | $ | 8 | $ | — | |||||||||
Foreign currency derivatives | 5 | — | 5 | — | |||||||||||||
Total | $ | 13 | $ | — | $ | 13 | $ | — | |||||||||
Financial Instruments | |||||||||||||||||
Delphi’s non-derivative financial instruments include debt, which consists of its accounts receivable factoring arrangements, capital leases and other debt issued by Delphi’s non-U.S. subsidiaries, the Tranche A Term Loan, the Tranche B Term Loan (prior to its payoff on March 1, 2013) and the senior notes. The fair value of debt is based on quoted market prices for instruments with public market data or significant other observable inputs for instruments without a quoted public market price (Level 2). As of September 30, 2013 and December 31, 2012, total debt was recorded at $2,418 million and $2,464 million, respectively, and had estimated fair values of $2,517 million and $2,557 million, respectively. For all other financial instruments recorded at September 30, 2013 and December 31, 2012, fair value approximates book value. | |||||||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||
In addition to items that are measured at fair value on a recurring basis, Delphi also has items in its balance sheet that are measured at fair value on a nonrecurring basis. As these items are not measured at fair value on a recurring basis, they are not included in the tables above. Nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets, intangible assets, asset retirement obligations, share-based compensation and liabilities for exit or disposal activities measured at fair value upon initial recognition. No significant impairment charges were recorded during the nine months ended September 30, 2013 and 2012. Fair value of long-lived assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of appraisals. As such, Delphi has determined that the fair value measurements of long-lived assets fall in Level 3 of the fair value hierarchy. |
Other_Income_Net
Other Income, Net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||||||
Other Income, Net | ' | ||||||||||||||||
OTHER INCOME, NET | |||||||||||||||||
Other income, net included: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in millions) | |||||||||||||||||
Interest income | $ | 4 | $ | 5 | $ | 11 | $ | 14 | |||||||||
Loss on extinguishment of debt | — | (1 | ) | (39 | ) | (1 | ) | ||||||||||
Other, net | — | (1 | ) | 3 | 2 | ||||||||||||
Other income (expense), net | $ | 4 | $ | 3 | $ | (25 | ) | $ | 15 | ||||||||
As further discussed in Note 8. Debt, during the nine months ended September 30, 2013, Delphi amended its Credit Agreement and repaid the entire balance of the Tranche B Term Loan from the Original Credit Agreement, resulting in a loss on extinguishment of debt of $39 million. |
Acquisitions_And_Divestitures
Acquisitions And Divestitures | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Business Combinations [Abstract] | ' | |||
Acquisitions and Divestitures | ' | |||
ACQUISITIONS AND DIVESTITURES | ||||
Acquisition of Motorized Vehicles Division of FCI | ||||
On October 26, 2012, Delphi acquired 100% of the equity interests of MVL for €765 million, or approximately $1 billion based on exchange rates on the acquisition date. MVL, a leading global manufacturer of automotive connection systems with a focus on high-value, leading technology applications, is based in Guyancourt, France, had 2011 sales of €692 million (including approximately 12% to Delphi that would be eliminated on a consolidated basis) and global operations. The operating results of MVL are reported within the Electrical/Electronic Architecture segment from the date of acquisition. | ||||
The acquisition was accounted for as a business combination, with the purchase price allocated on a preliminary basis using information available, in the fourth quarter of 2012. The purchase price and related allocation were finalized in the three months ended March 31, 2013. The final purchase price and related allocation are shown below (in millions): | ||||
Assets acquired and liabilities assumed | ||||
Purchase price, net of cash acquired | $ | 978 | ||
Property, plant and equipment | $ | 249 | ||
Intangible assets | 278 | |||
Other assets purchased and liabilities assumed, net | (7 | ) | ||
Identifiable net assets acquired | 520 | |||
Goodwill resulting from purchase | 458 | |||
Total purchase price allocation | $ | 978 | ||
Intangible assets include estimated amounts recognized for the fair value of customer-based and technology-related assets. It is currently estimated that these intangible assets have a weighted average useful life of approximately 12 years. The valuation of the intangible assets acquired was based on management's estimates, available information, and reasonable and supportable assumptions. The fair value of these assets was generally estimated based on utilizing income and market approaches. | ||||
The pro forma effects of this acquisition would not materially impact Delphi's reported results for any period presented, and as a result no pro forma financial statements are presented. | ||||
Sale of Italian Thermal Special Application Business | ||||
On April 30, 2012, Delphi completed the sale of its Thermal Special Application business located in Italy. The net sales of this business were approximately $23 million for the period from January 1 to April 30, 2012. Delphi received net proceeds of $14 million from the sale and recognized a gain on divestiture of $4 million, which is included in cost of sales in the consolidated statement of operations for the year ended December 31, 2012. The results of operations, including the gain on divestiture were not significant to the consolidated financial statements in any period presented, and the divestiture did not meet the discontinued operations criteria. | ||||
Purchase of Noncontrolling Interest in JV | ||||
In February 2012, Delphi’s Powertrain segment completed the acquisition of the remaining ownership interest in a majority-owned joint venture for a purchase price of $16 million. The acquisition was not material to the Company’s consolidated financial statements. Delphi previously had effective control of the joint venture and consolidated its results. The acquisition resulted in the elimination of the non-controlling interest. | ||||
Other | ||||
During the three months ended September 30, 2013, Delphi sold a European manufacturing facility that was closed as a result of its overall restructuring program, and received proceeds of approximately $20 million and recognized a gain on the disposal of approximately $11 million in cost of sales. |
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Share-Based Compensation | ' | |||||||
SHARE-BASED COMPENSATION | ||||||||
Long Term Incentive Plan | ||||||||
In November 2011, the Delphi Automotive PLC Long Term Incentive Plan (the “PLC LTIP”) was established, which allowed for the grant of awards of up to 22,977,116 ordinary shares for long-term compensation. The PLC LTIP is designed to align the interests of management and shareholders. The awards can be in the form of shares, options, stock appreciation rights, restricted stock, RSUs, performance awards, and other share-based awards to the employees, directors, consultants and advisors of the Company. In 2012 and 2013, the Company awarded annual long-term grants of RSUs under the PLC LTIP to align management compensation with Delphi's overall business strategy. The Company has competitive and market-appropriate shareholding requirements. All of the RSUs granted under the PLC LTIP are eligible to receive dividend equivalents for any dividend paid from the grant date through the vesting date. Dividend equivalents are generally paid out in ordinary shares upon vesting of the underlying RSUs. | ||||||||
On June 13, 2012, 51,003 RSUs granted to the Board of Directors on November 22, 2011 vested. The grant date fair value was approximately $1 million, and was determined based on the closing price of the Company’s ordinary shares on November 22, 2011. Upon settlement of the RSUs, 51,003 ordinary shares were issued to members of the Board of Directors at a fair value of approximately $1 million, of which 1,020 ordinary shares were withheld to cover the minimum U.K. withholding taxes. | ||||||||
On June 14, 2012, Delphi granted 64,459 RSUs to the Board of Directors at a grant date fair value of approximately $2 million. The grant date fair value was determined based on the closing price of the Company’s ordinary shares on June 14, 2012. The RSUs vested on April 24, 2013 and 64,713 ordinary shares, which included shares issued in connection with dividend equivalents, were issued to members of the Board of Directors at a fair value of approximately $3 million. 7,691 ordinary shares were withheld to cover the minimum U.K. withholding taxes. | ||||||||
On April 25, 2013, Delphi granted 37,674 RSUs to the Board of Directors at a grant date fair value of approximately $2 million. The grant date fair value was determined based on the closing price of the Company's ordinary shares on April 25, 2013. The RSUs will vest on April 2, 2014, the day before the 2014 annual meeting of shareholders. | ||||||||
In February 2012, Delphi granted approximately 1.88 million RSUs to its executives. These awards include a time-based vesting portion and a performance-based vesting portion. The time-based RSUs, which make up 25% of the awards for Delphi’s officers and 50% for Delphi’s other executives, will vest ratably over three years beginning on the first anniversary of the grant date. The performance-based RSUs, which make up 75% of the awards for Delphi’s officers and 50% for Delphi’s other executives, will vest at the completion of a three-year performance period at the end of 2014, if certain targets are met. | ||||||||
In February 2013, under the time-based vesting terms of the 2012 grant, 218,070 ordinary shares were issued to Delphi executives at a fair value of $9 million, of which 78,692 ordinary shares were withheld to cover withholding taxes. | ||||||||
In February 2013, Delphi granted approximately 1.45 million RSUs to its executives. These awards include time and performance-based components and vesting terms similar to the 2012 awards described above, as well as continuity awards. The time-based RSUs will vest ratably over three years beginning on the first anniversary of the grant date and the performance-based RSUs will vest at the completion of a three-year performance period at the end of 2015 if certain targets are met. | ||||||||
Any new executives hired after the annual executive RSU grant date may be eligible to participate in the PLC LTIP. Any off cycle grants made for new hires will be valued at their grant date fair value based on the closing price of the Company's ordinary shares on the date of such grant. | ||||||||
Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics, which are: | ||||||||
Metric | 2013 Grant | 2012 Grant | ||||||
Average Return on Net Assets (1) | 50 | % | 50 | % | ||||
Cumulative Net Income | N/A | 30 | % | |||||
Cumulative Earnings Per Share (2) | 30 | % | N/A | |||||
Relative Total Shareholder Return (3) | 20 | % | 20 | % | ||||
-1 | Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment expense for each calendar year during the respective performance period. | |||||||
-2 | Cumulative earnings per share is measured by net income attributable to Delphi divided by the weighted average number of diluted shares outstanding for calendar years 2013-2015. | |||||||
-3 | Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for all available trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company’s ordinary shares for all available trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies. | |||||||
The grant date fair value of the RSUs was determined based on the closing price of the Company’s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, and a contemporaneous valuation performed by an independent valuation specialist with respect to the relative total shareholder return awards. Based on the target number of awards issued for the February 2013 and 2012 grants, the fair value at grant date was estimated to be approximately $60 million and $59 million, respectively. | ||||||||
A summary of activity, including award grants, vesting and forfeitures is provided below | ||||||||
RSUs | Weighted Average Grant | |||||||
Date Fair Value | ||||||||
(in thousands) | ||||||||
Outstanding, January 1, 2013 | 1,899 | $ | 31.09 | |||||
Granted | 1,505 | 41.51 | ||||||
Vested | (285 | ) | 29.26 | |||||
Forfeited | (188 | ) | 34.16 | |||||
Outstanding, September 30, 2013 | 2,931 | 36.41 | ||||||
Delphi recognized compensation expense of $10 million ($8 million, net of tax) and $8 million ($6 million, net of tax) based on the Company’s best estimate of ultimate performance against the respective targets during the three months ended September 30, 2013 and 2012, respectively. Delphi recognized compensation expense of $34 million ($26 million, net of tax) and $20 million ($15 million, net of tax) based on the Company’s best estimate of ultimate performance against the respective targets during the nine months ended September 30, 2013 and 2012, respectively. Delphi will continue to recognize compensation expense, based on the grant date fair value of the awards applied to the Company’s best estimate of ultimate performance against the respective targets, over the requisite vesting periods of the awards. Based on the grant date fair value of the awards and the Company’s best estimate of ultimate performance against the respective targets as of September 30, 2013, unrecognized compensation expense on a pretax basis of approximately $73 million is anticipated to be recognized through February 2016. For the nine months ended September 30, 2013 and 2012, respectively, approximately $3 million and $0 million of cash was paid and reflected as a financing activity in the statements of cash flows related to the minimum statutory tax withholding for vested RSUs. | ||||||||
Value Creation Plan | ||||||||
During the second quarter of 2010, the Board of Managers approved and authorized the VCP, a long-term incentive plan designed to assist the Company in attracting, retaining, motivating and rewarding key employees of the Company and promoting the creation of long-term value. Participants were granted an award in September 2010 for the performance period ending December 31, 2012. Each individual participant’s target value was based on the participants’ level of responsibility within the Company and the country in which the participant is located. The awards cliff vested on December 31, 2012, the end of the performance period. In the event of a qualified termination, as defined in the VCP, prior to December 31, 2012, the participant would have vested in a pro-rata percentage of their award as of the termination date. For any other termination, the award would have been forfeited. | ||||||||
Approximately $200 million of the VCP awards were settled in cash during the year ended December 31, 2012 and approximately $31 million (including $11 million of taxes to be paid) that remained in accrued liabilities as of December 31, 2012 related to certain legal entities was paid out in the first quarter of 2013. The cash flow impacts for the nine months ended September 30, 2013 and 2012 were $31 million and $0 million, respectively. Final settlement of the awards for Delphi's officers was comprised of a combination of cash and ordinary shares. On December 31, 2012, 717,230 ordinary shares were issued to Delphi's officers, of which 290,798 ordinary shares were withheld to cover U.S. withholding taxes. For the nine months ended September 30, 2013 and 2012, respectively, approximately $11 million and $0 million of cash was paid and reflected as a financing activity in the statements of cash flows related to the minimum statutory tax withholding for the vested ordinary shares. Delphi recognized compensation expense based on estimates of the enterprise value over the requisite vesting periods of the awards. Compensation expense recognized during the three and nine months ended September 30, 2012 totaled $27 million ($20 million, net of tax) and $107 million ($80 million, net of tax), respectively. | ||||||||
The VCP awards were accounted for as liability awards pursuant to FASB ASC 718, Compensation-Stock Compensation. Estimating the fair value of the liability awards under the VCP required assumptions regarding the Company’s enterprise value. Prior to public quoted market prices for averages to determine fair value estimates for the VCP, the fair market value of the liability awards was based on contemporaneous valuations performed by an independent valuation specialist, utilizing generally accepted valuation approaches. |
Supplemental_Guarantor_And_Non
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements | ' | ||||||||||||||||||||||||
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | |||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||
In May 2011, Delphi Corporation issued the 2011 Senior Notes in a transaction exempt from registration under Rule 144A and Regulation S of the Securities Act. The 2011 Senior Notes were exchanged for the New Senior Notes in an exchange offer completed in May 2012. Additionally, in February 2013, Delphi Corporation issued the 2013 Senior Notes registered under the Securities Act. All series of the Company's outstanding senior notes have been issued by Delphi Corporation (“Subsidiary Issuer”) and are fully and unconditionally guaranteed by certain of its direct and indirect parent companies the (“Parent Companies”) and by certain of Delphi Automotive PLC’s direct and indirect subsidiaries (the “Guarantor Subsidiaries”) on a joint and several basis, subject to customary release provisions (other than in the case of Delphi Automotive PLC). Subsidiaries not subject to the guarantee (“Non-Guarantor Subsidiaries”) consist primarily of the non-U.S. subsidiaries of the Company. Refer to Note 8. Debt for more information. | |||||||||||||||||||||||||
In lieu of providing separate audited financial statements for the Guarantors, the Company has included the accompanying condensed consolidating financial statements. These condensed consolidating financial statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiary’s cumulative results of operations, capital contributions and distributions and other equity changes. The Guarantor Subsidiaries are combined in the condensed consolidating financial statements. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions. | |||||||||||||||||||||||||
Statement of Operations Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,368 | $ | 2,993 | $ | (344 | ) | $ | 4,017 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 1,203 | 2,483 | (348 | ) | 3,338 | ||||||||||||||||||
Selling, general and administrative | 41 | — | 43 | 143 | 1 | 228 | |||||||||||||||||||
Amortization | — | — | 14 | 13 | — | 27 | |||||||||||||||||||
Restructuring | — | — | 3 | 34 | — | 37 | |||||||||||||||||||
Total operating expenses | 41 | — | 1,263 | 2,673 | (347 | ) | 3,630 | ||||||||||||||||||
Operating (loss) income | (41 | ) | — | 105 | 320 | 3 | 387 | ||||||||||||||||||
Interest expense | (15 | ) | (47 | ) | (16 | ) | (3 | ) | 47 | (34 | ) | ||||||||||||||
Other income (expense), net | 15 | 15 | 1 | 17 | (44 | ) | 4 | ||||||||||||||||||
(Loss) income before income taxes and equity income | (41 | ) | (32 | ) | 90 | 334 | 6 | 357 | |||||||||||||||||
Income tax benefit (expense) | — | 12 | (27 | ) | (56 | ) | (1 | ) | (72 | ) | |||||||||||||||
(Loss) income before equity income | (41 | ) | (20 | ) | 63 | 278 | 5 | 285 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 8 | — | 8 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 312 | 74 | — | — | (386 | ) | — | ||||||||||||||||||
Net income (loss) | 271 | 54 | 63 | 286 | (381 | ) | 293 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 22 | — | 22 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 271 | $ | 54 | $ | 63 | $ | 264 | $ | (381 | ) | $ | 271 | ||||||||||||
Statement of Operations Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 4,084 | $ | 9,210 | $ | (1,013 | ) | $ | 12,281 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 3,556 | 7,611 | (1,026 | ) | 10,141 | ||||||||||||||||||
Selling, general and administrative | 120 | — | 145 | 432 | 2 | 699 | |||||||||||||||||||
Amortization | — | — | 41 | 38 | — | 79 | |||||||||||||||||||
Restructuring | — | — | 10 | 85 | — | 95 | |||||||||||||||||||
Total operating expenses | 120 | — | 3,752 | 8,166 | (1,024 | ) | 11,014 | ||||||||||||||||||
Operating (loss) income | (120 | ) | — | 332 | 1,044 | 11 | 1,267 | ||||||||||||||||||
Interest expense | (41 | ) | (141 | ) | (47 | ) | (9 | ) | 132 | (106 | ) | ||||||||||||||
Other income (expense), net | 45 | 9 | 2 | 49 | (130 | ) | (25 | ) | |||||||||||||||||
(Loss) income before income taxes and equity income | (116 | ) | (132 | ) | 287 | 1,084 | 13 | 1,136 | |||||||||||||||||
Income tax benefit (expense) | — | 49 | (69 | ) | (158 | ) | (4 | ) | (182 | ) | |||||||||||||||
(Loss) income before equity income | (116 | ) | (83 | ) | 218 | 926 | 9 | 954 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 26 | — | 26 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 1,030 | 252 | — | — | (1,282 | ) | — | ||||||||||||||||||
Net income (loss) | 914 | 169 | 218 | 952 | (1,273 | ) | 980 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 66 | — | 66 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 914 | $ | 169 | $ | 218 | $ | 886 | $ | (1,273 | ) | $ | 914 | ||||||||||||
Statement of Operations Three Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,339 | $ | 2,696 | $ | (372 | ) | $ | 3,663 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 1,158 | 2,277 | (377 | ) | 3,058 | ||||||||||||||||||
Selling, general and administrative | 33 | — | 66 | 117 | (1 | ) | 215 | ||||||||||||||||||
Amortization | — | — | 14 | 6 | — | 20 | |||||||||||||||||||
Restructuring | — | — | 1 | 2 | — | 3 | |||||||||||||||||||
Total operating expenses | 33 | — | 1,239 | 2,402 | (378 | ) | 3,296 | ||||||||||||||||||
Operating (loss) income | (33 | ) | — | 100 | 294 | 6 | 367 | ||||||||||||||||||
Interest expense | (18 | ) | (47 | ) | (15 | ) | (3 | ) | 51 | (32 | ) | ||||||||||||||
Other income (expense), net | 16 | 28 | (2 | ) | 12 | (51 | ) | 3 | |||||||||||||||||
(Loss) income before income taxes and equity income | (35 | ) | (19 | ) | 83 | 303 | 6 | 338 | |||||||||||||||||
Income tax benefit (expense) | — | 7 | (22 | ) | (35 | ) | (2 | ) | (52 | ) | |||||||||||||||
(Loss) income before equity income | (35 | ) | (12 | ) | 61 | 268 | 4 | 286 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 6 | — | 6 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 304 | 61 | — | — | (365 | ) | — | ||||||||||||||||||
Net income (loss) | 269 | 49 | 61 | 274 | (361 | ) | 292 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 23 | — | 23 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 269 | $ | 49 | $ | 61 | $ | 251 | $ | (361 | ) | $ | 269 | ||||||||||||
Statement of Operations Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 4,234 | $ | 8,667 | $ | (1,149 | ) | $ | 11,752 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 3,614 | 7,253 | (1,164 | ) | 9,703 | ||||||||||||||||||
Selling, general and administrative | 96 | — | 214 | 364 | (1 | ) | 673 | ||||||||||||||||||
Amortization | — | — | 41 | 19 | — | 60 | |||||||||||||||||||
Restructuring | — | — | 5 | 12 | — | 17 | |||||||||||||||||||
Total operating expenses | 96 | — | 3,874 | 7,648 | (1,165 | ) | 10,453 | ||||||||||||||||||
Operating (loss) income | (96 | ) | — | 360 | 1,019 | 16 | 1,299 | ||||||||||||||||||
Interest expense | (53 | ) | (129 | ) | (38 | ) | (10 | ) | 130 | (100 | ) | ||||||||||||||
Other income (expense), net | 38 | 73 | (2 | ) | 36 | (130 | ) | 15 | |||||||||||||||||
(Loss) income before income taxes and equity income | (111 | ) | (56 | ) | 320 | 1,045 | 16 | 1,214 | |||||||||||||||||
Income tax benefit (expense) | — | 21 | (85 | ) | (158 | ) | (5 | ) | (227 | ) | |||||||||||||||
(Loss) income before equity income | (111 | ) | (35 | ) | 235 | 887 | 11 | 987 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 18 | — | 18 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 1,052 | 235 | — | — | (1,287 | ) | — | ||||||||||||||||||
Net income (loss) | 941 | 200 | 235 | 905 | (1,276 | ) | 1,005 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 64 | — | 64 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 941 | $ | 200 | $ | 235 | $ | 841 | $ | (1,276 | ) | $ | 941 | ||||||||||||
Statement of Comprehensive Income Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 271 | $ | 54 | $ | 63 | $ | 286 | $ | (381 | ) | $ | 293 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | 113 | — | 113 | |||||||||||||||||||
Net change in unrecognized gain (loss) on derivative instruments, net of tax | — | — | 12 | (2 | ) | — | 10 | ||||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | (5 | ) | — | (5 | ) | |||||||||||||||||
Other comprehensive income | — | — | 12 | 106 | — | 118 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 115 | 12 | — | — | (127 | ) | — | ||||||||||||||||||
Comprehensive income (loss) | 386 | 66 | 75 | 392 | (508 | ) | 411 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 25 | — | 25 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 386 | $ | 66 | $ | 75 | $ | 367 | $ | (508 | ) | $ | 386 | ||||||||||||
Statement of Comprehensive Income Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 914 | $ | 169 | $ | 218 | $ | 952 | $ | (1,273 | ) | $ | 980 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | (4 | ) | — | (4 | ) | |||||||||||||||||
Net change in unrecognized gain on derivative instruments, net of tax | — | — | (27 | ) | (2 | ) | — | (29 | ) | ||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | 11 | — | 11 | |||||||||||||||||||
Other comprehensive (loss) income | — | — | (27 | ) | 5 | — | (22 | ) | |||||||||||||||||
Equity in other comprehensive (loss) income of subsidiaries | (25 | ) | (27 | ) | — | — | 52 | — | |||||||||||||||||
Comprehensive income (loss) | 889 | 142 | 191 | 957 | (1,221 | ) | 958 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 69 | — | 69 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 889 | $ | 142 | $ | 191 | $ | 888 | $ | (1,221 | ) | $ | 889 | ||||||||||||
Statement of Comprehensive Income Three Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 269 | $ | 49 | $ | 61 | $ | 274 | $ | (361 | ) | $ | 292 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | 82 | — | 82 | |||||||||||||||||||
Net change in unrecognized gain on derivative instruments, net of tax | — | — | 26 | — | — | 26 | |||||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | (1 | ) | — | (1 | ) | |||||||||||||||||
Other comprehensive income | — | — | 26 | 81 | — | 107 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 106 | 26 | — | — | (132 | ) | — | ||||||||||||||||||
Comprehensive income (loss) | 375 | 75 | 87 | 355 | (493 | ) | 399 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 24 | — | 24 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 375 | $ | 75 | $ | 87 | $ | 331 | $ | (493 | ) | $ | 375 | ||||||||||||
Statement of Comprehensive Income Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 941 | $ | 200 | $ | 235 | $ | 905 | $ | (1,276 | ) | $ | 1,005 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | 9 | — | 9 | |||||||||||||||||||
Net change in unrecognized gain on derivative instruments, net of tax | — | — | 62 | — | — | 62 | |||||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Other comprehensive income | — | — | 62 | 7 | — | 69 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 69 | 62 | — | — | (131 | ) | — | ||||||||||||||||||
Comprehensive income (loss) | 1,010 | 262 | 297 | 912 | (1,407 | ) | 1,074 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 64 | — | 64 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 1,010 | $ | 262 | $ | 297 | $ | 848 | $ | (1,407 | ) | $ | 1,010 | ||||||||||||
Balance Sheet as of September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 16 | $ | — | $ | 68 | $ | 969 | $ | — | $ | 1,053 | |||||||||||||
Restricted cash | — | — | — | 5 | — | 5 | |||||||||||||||||||
Accounts receivable, net | — | — | 822 | 2,034 | — | 2,856 | |||||||||||||||||||
Inventories | — | — | 367 | 876 | (10 | ) | 1,233 | ||||||||||||||||||
Other current assets | — | 10 | 176 | 463 | (9 | ) | 640 | ||||||||||||||||||
Total current assets | 16 | 10 | 1,433 | 4,347 | (19 | ) | 5,787 | ||||||||||||||||||
Long-term assets: | |||||||||||||||||||||||||
Property, net | — | — | 645 | 2,337 | — | 2,982 | |||||||||||||||||||
Investments in affiliates | — | — | — | 217 | — | 217 | |||||||||||||||||||
Investments in subsidiaries | 4,520 | 1,642 | — | — | (6,162 | ) | — | ||||||||||||||||||
Intangible assets, net | — | — | 356 | 871 | — | 1,227 | |||||||||||||||||||
Other long-term assets | 5 | 46 | 40 | 505 | 2 | 598 | |||||||||||||||||||
Total long-term assets | 4,525 | 1,688 | 1,041 | 3,930 | (6,160 | ) | 5,024 | ||||||||||||||||||
Total assets | $ | 4,541 | $ | 1,698 | $ | 2,474 | $ | 8,277 | $ | (6,179 | ) | $ | 10,811 | ||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Short-term debt | $ | — | $ | 22 | $ | 23 | $ | 14 | $ | — | $ | 59 | |||||||||||||
Accounts payable | — | — | 693 | 1,811 | — | 2,504 | |||||||||||||||||||
Accrued liabilities | 10 | 28 | 163 | 1,101 | (8 | ) | 1,294 | ||||||||||||||||||
Total current liabilities | 10 | 50 | 879 | 2,926 | (8 | ) | 3,857 | ||||||||||||||||||
Long-term liabilities: | |||||||||||||||||||||||||
Long-term debt | — | 2,346 | 2 | 11 | — | 2,359 | |||||||||||||||||||
Intercompany accounts, net | 1,785 | (663 | ) | 964 | (2,086 | ) | — | — | |||||||||||||||||
Pension benefit obligations | — | — | 66 | 843 | — | 909 | |||||||||||||||||||
Other long-term liabilities | — | — | 229 | 234 | — | 463 | |||||||||||||||||||
Total long-term liabilities | 1,785 | 1,683 | 1,261 | (998 | ) | — | 3,731 | ||||||||||||||||||
Total liabilities | 1,795 | 1,733 | 2,140 | 1,928 | (8 | ) | 7,588 | ||||||||||||||||||
Total Delphi shareholders’ equity | 2,746 | (35 | ) | 334 | 5,872 | (6,171 | ) | 2,746 | |||||||||||||||||
Noncontrolling interest | — | — | — | 477 | — | 477 | |||||||||||||||||||
Total shareholders’ equity | 2,746 | (35 | ) | 334 | 6,349 | (6,171 | ) | 3,223 | |||||||||||||||||
Total liabilities and shareholders’ equity | $ | 4,541 | $ | 1,698 | $ | 2,474 | $ | 8,277 | $ | (6,179 | ) | $ | 10,811 | ||||||||||||
Balance Sheet as of December 31, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | — | $ | 118 | $ | 985 | $ | — | $ | 1,105 | |||||||||||||
Restricted cash | — | — | — | 8 | — | 8 | |||||||||||||||||||
Accounts receivable, net | — | — | 641 | 1,784 | — | 2,425 | |||||||||||||||||||
Inventories | — | — | 308 | 764 | (6 | ) | 1,066 | ||||||||||||||||||
Other current assets | — | 17 | 141 | 465 | — | 623 | |||||||||||||||||||
Total current assets | 2 | 17 | 1,208 | 4,006 | (6 | ) | 5,227 | ||||||||||||||||||
Long-term assets: | |||||||||||||||||||||||||
Property, net | — | — | 592 | 2,268 | — | 2,860 | |||||||||||||||||||
Investments in affiliates | — | — | — | 231 | — | 231 | |||||||||||||||||||
Investments in subsidiaries | 3,987 | 1,663 | — | — | (5,650 | ) | — | ||||||||||||||||||
Intangible assets, net | — | — | 390 | 886 | — | 1,276 | |||||||||||||||||||
Other long-term assets | — | 55 | 44 | 481 | 2 | 582 | |||||||||||||||||||
Total long-term assets | 3,987 | 1,718 | 1,026 | 3,866 | (5,648 | ) | 4,949 | ||||||||||||||||||
Total assets | $ | 3,989 | $ | 1,735 | $ | 2,234 | $ | 7,872 | $ | (5,654 | ) | $ | 10,176 | ||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Short-term debt | $ | — | $ | 31 | $ | 23 | $ | 86 | $ | — | $ | 140 | |||||||||||||
Accounts payable | — | — | 578 | 1,700 | — | 2,278 | |||||||||||||||||||
Accrued liabilities | — | 10 | 221 | 1,010 | — | 1,241 | |||||||||||||||||||
Total current liabilities | — | 41 | 822 | 2,796 | — | 3,659 | |||||||||||||||||||
Long-term liabilities: | |||||||||||||||||||||||||
Long-term debt | — | 2,308 | 2 | 14 | — | 2,324 | |||||||||||||||||||
Intercompany accounts, net | 1,644 | (537 | ) | 755 | (1,862 | ) | — | — | |||||||||||||||||
Pension benefit obligations | — | — | 73 | 856 | — | 929 | |||||||||||||||||||
Other long-term liabilities | — | — | 192 | 242 | — | 434 | |||||||||||||||||||
Total long-term liabilities | 1,644 | 1,771 | 1,022 | (750 | ) | — | 3,687 | ||||||||||||||||||
Total liabilities | 1,644 | 1,812 | 1,844 | 2,046 | — | 7,346 | |||||||||||||||||||
Total Delphi shareholders’ equity | 2,345 | (77 | ) | 390 | 5,341 | (5,654 | ) | 2,345 | |||||||||||||||||
Noncontrolling interest | — | — | — | 485 | — | 485 | |||||||||||||||||||
Total shareholders’ equity | 2,345 | (77 | ) | 390 | 5,826 | (5,654 | ) | 2,830 | |||||||||||||||||
Total liabilities and shareholders’ equity | $ | 3,989 | $ | 1,735 | $ | 2,234 | $ | 7,872 | $ | (5,654 | ) | $ | 10,176 | ||||||||||||
Statement of Cash Flows for the Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (188 | ) | $ | — | $ | 366 | $ | 892 | $ | — | $ | 1,070 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | — | — | (147 | ) | (365 | ) | — | (512 | ) | ||||||||||||||||
Proceeds from sale of property/investments | — | — | 1 | 23 | — | 24 | |||||||||||||||||||
Cost of business and technology acquisitions, net of cash acquired | — | — | — | (10 | ) | — | (10 | ) | |||||||||||||||||
Decrease in restricted cash | — | — | — | 3 | — | 3 | |||||||||||||||||||
Net cash used in investing activities | — | — | (146 | ) | (349 | ) | — | (495 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Net repayments under other short-term debt agreements | — | — | — | (79 | ) | — | (79 | ) | |||||||||||||||||
Repayments under long-term debt agreements | — | (1,349 | ) | — | — | — | (1,349 | ) | |||||||||||||||||
Proceeds from issuance of senior secured term loans, net of issuance costs | — | 560 | — | — | — | 560 | |||||||||||||||||||
Proceeds from issuance of senior notes, net of issuance costs | — | 788 | — | — | — | 788 | |||||||||||||||||||
Dividend payments of consolidated affiliates to minority shareholders | — | — | — | (26 | ) | — | (26 | ) | |||||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 714 | 1 | (257 | ) | (458 | ) | — | — | |||||||||||||||||
Repurchase of ordinary shares | (353 | ) | — | — | — | — | (353 | ) | |||||||||||||||||
Distribution of cash dividends | (159 | ) | — | — | — | — | (159 | ) | |||||||||||||||||
Taxes withheld and paid on employees' restricted share awards | — | — | (13 | ) | (1 | ) | — | (14 | ) | ||||||||||||||||
Net cash provided by (used in) financing activities | 202 | — | (270 | ) | (564 | ) | — | (632 | ) | ||||||||||||||||
Effect of exchange rate fluctuations on cash and cash equivalents | — | — | — | 5 | — | 5 | |||||||||||||||||||
Decrease in cash and cash equivalents | 14 | — | (50 | ) | (16 | ) | — | (52 | ) | ||||||||||||||||
Cash and cash equivalents at beginning of period | 2 | — | 118 | 985 | — | 1,105 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | 16 | $ | — | $ | 68 | $ | 969 | $ | — | $ | 1,053 | |||||||||||||
Statement of Cash Flows for the Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (34 | ) | $ | — | $ | 461 | $ | 741 | $ | — | $ | 1,168 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | — | — | (159 | ) | (404 | ) | — | (563 | ) | ||||||||||||||||
Proceeds from sale of property/investments | — | — | 2 | 16 | — | 18 | |||||||||||||||||||
Increase in restricted cash | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Acquisition of minority held shares | — | — | — | (16 | ) | — | (16 | ) | |||||||||||||||||
Dividends from equity method investments in excess of earnings | — | — | — | 37 | — | 37 | |||||||||||||||||||
Net cash used in investing activities | — | — | (157 | ) | (369 | ) | — | (526 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Net repayments under other short-term debt agreements | — | — | — | (16 | ) | — | (16 | ) | |||||||||||||||||
Proceeds from issuance of senior secured term loans, net of issuance costs | — | (5 | ) | — | — | — | (5 | ) | |||||||||||||||||
Dividend payments of consolidated affiliates to minority shareholders | — | — | — | (39 | ) | — | (39 | ) | |||||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 284 | 5 | (289 | ) | — | — | — | ||||||||||||||||||
Repurchase of ordinary shares | (300 | ) | — | — | — | — | (300 | ) | |||||||||||||||||
Net cash used in financing activities | (16 | ) | — | (289 | ) | (55 | ) | — | (360 | ) | |||||||||||||||
Effect of exchange rate fluctuations on cash and cash equivalents | — | — | — | (11 | ) | — | (11 | ) | |||||||||||||||||
(Decrease) increase in cash and cash equivalents | (50 | ) | — | 15 | 306 | — | 271 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | 53 | — | 186 | 1,124 | — | 1,363 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | 3 | $ | — | $ | 201 | $ | 1,430 | $ | — | $ | 1,634 | |||||||||||||
Segment_Reporting
Segment Reporting | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Reporting Disclosure | ' | ||||||||||||||||||||||||
SEGMENT REPORTING | |||||||||||||||||||||||||
Delphi operates its core business along the following operating segments, which are grouped on the basis of similar product, market and operating factors: | |||||||||||||||||||||||||
• | Electrical/Electronic Architecture, which includes complete electrical architecture and component products. | ||||||||||||||||||||||||
• | Powertrain Systems, which includes extensive systems integration expertise in gasoline, diesel and fuel handling and full end-to-end systems including fuel and air injection, combustion, electronics controls, exhaust handling, test and validation capabilities, diesel and automotive aftermarket, and original equipment service. | ||||||||||||||||||||||||
• | Electronics and Safety, which includes component and systems integration expertise in infotainment and connectivity, body controls and security systems, displays, mechatronics, passive and active safety electronics and electric and hybrid electric vehicle power electronics, as well as advanced development of software. | ||||||||||||||||||||||||
• | Thermal Systems, which includes heating, ventilating and air conditioning (“HVAC”) systems, components for multiple transportation and other adjacent markets, and powertrain cooling and related technologies. | ||||||||||||||||||||||||
• | Eliminations and Other, which includes i) the elimination of inter-segment transactions, and ii) certain other expenses and income of a non-operating or strategic nature. | ||||||||||||||||||||||||
The accounting policies of the segments are the same as those described in Note 2. Significant Accounting Policies, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for the purposes of assisting internal operating decisions. Generally, Delphi evaluates performance based on stand-alone segment net income before depreciation and amortization (including long-lived asset and goodwill impairment), interest expense, other income (expense), net, income tax expense, equity income, net of tax, restructuring and other acquisition-related costs (“Adjusted EBITDA”) and accounts for inter-segment sales and transfers as if the sales or transfers were to third parties, at current market prices. Through December 31, 2012, the Company’s management believed that net income before depreciation and amortization (including long-lived asset and goodwill impairment), interest expense, other income (expense), net, income tax expense, equity income, net of tax, (“EBITDA”) was a meaningful measure of performance and it was used by management to analyze Company and stand-alone segment operating performance. Management also used EBITDA for planning and forecasting purposes. Effective January 1, 2013, Delphi’s management began utilizing Adjusted EBITDA as a key performance measure and for planning and forecasting purposes because of our restructuring and other acquisition-related costs. Segment Adjusted EBITDA and EBITDA should not be considered substitutes for results prepared in accordance with U.S. GAAP and should not be considered alternatives to net income attributable to Delphi, which is the most directly comparable financial measure to Adjusted EBITDA and EBITDA that is in accordance with U.S. GAAP. Segment Adjusted EBITDA and EBITDA, as determined and measured by Delphi, should also not be compared to similarly titled measures reported by other companies. | |||||||||||||||||||||||||
Included below are sales and operating data for Delphi’s segments for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013: | |||||||||||||||||||||||||
Net sales | $ | 1,956 | $ | 1,048 | $ | 705 | $ | 364 | $ | (56 | ) | $ | 4,017 | ||||||||||||
EBITDA | $ | 298 | $ | 134 | $ | 81 | $ | 12 | $ | — | $ | 525 | |||||||||||||
Adjusted EBITDA | $ | 309 | $ | 142 | $ | 100 | $ | 15 | $ | — | $ | 566 | |||||||||||||
Depreciation and amortization | $ | 61 | $ | 48 | $ | 19 | $ | 10 | $ | — | $ | 138 | |||||||||||||
Operating income | $ | 237 | $ | 86 | $ | 62 | $ | 2 | $ | — | $ | 387 | |||||||||||||
Equity income | $ | 4 | $ | 1 | $ | — | $ | 4 | $ | (1 | ) | $ | 8 | ||||||||||||
Net income attributable to noncontrolling interest | $ | 11 | $ | 6 | $ | — | $ | 5 | $ | — | $ | 22 | |||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2012: | |||||||||||||||||||||||||
Net sales | $ | 1,607 | $ | 1,087 | $ | 648 | $ | 374 | $ | (53 | ) | $ | 3,663 | ||||||||||||
EBITDA | $ | 210 | $ | 169 | $ | 78 | $ | 23 | $ | — | $ | 480 | |||||||||||||
Adjusted EBITDA | $ | 211 | $ | 169 | $ | 79 | $ | 24 | $ | — | $ | 483 | |||||||||||||
Depreciation and amortization | $ | 39 | $ | 44 | $ | 20 | $ | 10 | $ | — | $ | 113 | |||||||||||||
Operating income | $ | 171 | $ | 125 | $ | 58 | $ | 13 | $ | — | $ | 367 | |||||||||||||
Equity income (loss) | $ | 5 | $ | (1 | ) | $ | — | $ | 3 | $ | (1 | ) | $ | 6 | |||||||||||
Net income attributable to noncontrolling interest | $ | 10 | $ | 8 | $ | — | $ | 5 | $ | — | $ | 23 | |||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013: | |||||||||||||||||||||||||
Net sales | $ | 5,921 | $ | 3,316 | $ | 2,123 | $ | 1,097 | $ | (176 | ) | $ | 12,281 | ||||||||||||
EBITDA | $ | 883 | $ | 474 | $ | 253 | $ | 58 | $ | — | $ | 1,668 | |||||||||||||
Adjusted EBITDA | $ | 919 | $ | 494 | $ | 297 | $ | 63 | $ | — | $ | 1,773 | |||||||||||||
Depreciation and amortization | $ | 174 | $ | 140 | $ | 55 | $ | 32 | $ | — | $ | 401 | |||||||||||||
Operating income | $ | 709 | $ | 334 | $ | 198 | $ | 26 | $ | — | $ | 1,267 | |||||||||||||
Equity income | $ | 11 | $ | 4 | $ | — | $ | 12 | $ | (1 | ) | $ | 26 | ||||||||||||
Net income attributable to noncontrolling interest | $ | 31 | $ | 22 | $ | — | $ | 13 | $ | — | $ | 66 | |||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012: | |||||||||||||||||||||||||
Net sales | $ | 5,049 | $ | 3,597 | $ | 2,092 | $ | 1,192 | $ | (178 | ) | $ | 11,752 | ||||||||||||
EBITDA | $ | 708 | $ | 571 | $ | 269 | $ | 91 | $ | — | $ | 1,639 | |||||||||||||
Adjusted EBITDA | $ | 714 | $ | 575 | $ | 272 | $ | 95 | $ | — | $ | 1,656 | |||||||||||||
Depreciation and amortization | $ | 112 | $ | 134 | $ | 62 | $ | 32 | $ | — | $ | 340 | |||||||||||||
Operating income | $ | 596 | $ | 437 | $ | 207 | $ | 59 | $ | — | $ | 1,299 | |||||||||||||
Equity income (loss) | $ | 14 | $ | — | $ | — | $ | 7 | $ | (3 | ) | $ | 18 | ||||||||||||
Net income attributable to noncontrolling interest | $ | 28 | $ | 24 | $ | — | $ | 12 | $ | — | $ | 64 | |||||||||||||
-1 | Eliminations and Other includes the elimination of inter-segment transactions. | ||||||||||||||||||||||||
The reconciliation of Adjusted EBITDA to EBITDA includes restructuring and other acquisition-related costs. The reconciliation of Adjusted EBITDA to net income attributable to Delphi for the three and nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 309 | $ | 142 | $ | 100 | $ | 15 | $ | — | $ | 566 | |||||||||||||
Restructuring | (7 | ) | (8 | ) | (19 | ) | (3 | ) | — | (37 | ) | ||||||||||||||
Other acquisition-related costs | (4 | ) | — | — | — | — | (4 | ) | |||||||||||||||||
EBITDA | $ | 298 | $ | 134 | $ | 81 | $ | 12 | $ | — | $ | 525 | |||||||||||||
Depreciation and amortization | (61 | ) | (48 | ) | (19 | ) | (10 | ) | — | (138 | ) | ||||||||||||||
Operating income | $ | 237 | $ | 86 | $ | 62 | $ | 2 | $ | — | 387 | ||||||||||||||
Interest expense | (34 | ) | |||||||||||||||||||||||
Other income, net | 4 | ||||||||||||||||||||||||
Income before income taxes and equity income | 357 | ||||||||||||||||||||||||
Income tax expense | (72 | ) | |||||||||||||||||||||||
Equity income, net of tax | 8 | ||||||||||||||||||||||||
Net income | $ | 293 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 22 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 271 | |||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2012: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 211 | $ | 169 | $ | 79 | $ | 24 | $ | — | $ | 483 | |||||||||||||
Restructuring | (1 | ) | — | (1 | ) | (1 | ) | — | (3 | ) | |||||||||||||||
EBITDA | $ | 210 | $ | 169 | $ | 78 | $ | 23 | $ | — | $ | 480 | |||||||||||||
Depreciation and amortization | (39 | ) | (44 | ) | (20 | ) | (10 | ) | — | (113 | ) | ||||||||||||||
Operating income | $ | 171 | $ | 125 | $ | 58 | $ | 13 | $ | — | 367 | ||||||||||||||
Interest expense | (32 | ) | |||||||||||||||||||||||
Other income, net | 3 | ||||||||||||||||||||||||
Income before income taxes and equity income | 338 | ||||||||||||||||||||||||
Income tax expense | (52 | ) | |||||||||||||||||||||||
Equity income, net of tax | 6 | ||||||||||||||||||||||||
Net income | $ | 292 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 23 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 269 | |||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 919 | $ | 494 | $ | 297 | $ | 63 | $ | — | $ | 1,773 | |||||||||||||
Restructuring | (26 | ) | (20 | ) | (44 | ) | (5 | ) | — | (95 | ) | ||||||||||||||
Other acquisition-related costs | (10 | ) | — | — | — | — | (10 | ) | |||||||||||||||||
EBITDA | $ | 883 | $ | 474 | $ | 253 | $ | 58 | $ | — | $ | 1,668 | |||||||||||||
Depreciation and amortization | (174 | ) | (140 | ) | (55 | ) | (32 | ) | — | (401 | ) | ||||||||||||||
Operating income | $ | 709 | $ | 334 | $ | 198 | $ | 26 | $ | — | 1,267 | ||||||||||||||
Interest expense | (106 | ) | |||||||||||||||||||||||
Other expense, net | (25 | ) | |||||||||||||||||||||||
Income before income taxes and equity income | 1,136 | ||||||||||||||||||||||||
Income tax expense | (182 | ) | |||||||||||||||||||||||
Equity income, net of tax | 26 | ||||||||||||||||||||||||
Net income | $ | 980 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 66 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 914 | |||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 714 | $ | 575 | $ | 272 | $ | 95 | $ | — | $ | 1,656 | |||||||||||||
Restructuring | (6 | ) | (4 | ) | (3 | ) | (4 | ) | — | (17 | ) | ||||||||||||||
EBITDA | $ | 708 | $ | 571 | $ | 269 | $ | 91 | $ | — | $ | 1,639 | |||||||||||||
Depreciation and amortization | (112 | ) | (134 | ) | (62 | ) | (32 | ) | — | (340 | ) | ||||||||||||||
Operating income | $ | 596 | $ | 437 | $ | 207 | $ | 59 | $ | — | 1,299 | ||||||||||||||
Interest expense | (100 | ) | |||||||||||||||||||||||
Other income, net | 15 | ||||||||||||||||||||||||
Income before income taxes and equity income | 1,214 | ||||||||||||||||||||||||
Income tax expense | (227 | ) | |||||||||||||||||||||||
Equity income, net of tax | 18 | ||||||||||||||||||||||||
Net income | $ | 1,005 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 64 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 941 | |||||||||||||||||||||||
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Consolidation, Policy | ' | ||||||||||||||||||||
Consolidation—The consolidated financial statements include the accounts of Delphi and U.S. and non-U.S. subsidiaries in which Delphi holds a controlling financial or management interest and variable interest entities of which Delphi has determined that it is the primary beneficiary. Delphi’s share of the earnings or losses of non-controlled affiliates, over which Delphi exercises significant influence (generally a 20% to 50% ownership interest), is included in the consolidated operating results using the equity method of accounting. All adjustments, consisting of only normal recurring items, which are necessary for a fair presentation, have been included. All significant intercompany transactions and balances between consolidated Delphi businesses have been eliminated. | |||||||||||||||||||||
During the three and nine months ended September 30, 2013, Delphi received dividends of $10 million and $30 million from two of its equity method investments, respectively. The dividends were recognized as a reduction to the investment and represented a return on investment included in cash flows from operating activities. During the nine months ended September 30, 2012, Delphi received a dividend of $62 million from one of its equity method investments. The dividend was recognized as a reduction to the investment with $25 million representing a return on investment included in cash flows from operating activities and $37 million representing a return of capital investment and included in cash flows from investing activities. | |||||||||||||||||||||
Use of Estimates, Policy | ' | ||||||||||||||||||||
Use of estimates—Preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect amounts reported therein. Generally, matters subject to estimation and judgment include amounts related to accounts receivable realization, inventory obsolescence, asset impairments, useful lives of intangible and fixed assets, deferred tax asset valuation allowances, income taxes, pension benefit plan assumptions, accruals related to litigation, warranty costs, environmental remediation costs, worker’s compensation accruals and healthcare accruals. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from those estimates. | |||||||||||||||||||||
Net Income Per Share, Policy | ' | ||||||||||||||||||||
Net income per share—Basic net income per share is computed by dividing net income attributable to Delphi by the weighted–average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Delphi by the diluted weighted-average number of ordinary shares outstanding. Share amounts included in these notes are on a diluted basis. See Note 12. Shareholders’ Equity and Net Income Per Share for additional information including the calculation of basic and diluted net income per share. | |||||||||||||||||||||
Basic net income per share is computed by dividing net income attributable to Delphi by the weighted average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Delphi by the diluted weighted average number of ordinary shares outstanding. For all periods presented, the calculation of net income per share contemplates the dilutive impacts, if any, of the Company’s share-based compensation plans. Refer to Note 18. Share-Based Compensation for additional information. For all applicable periods presented, the effect of the Value Creation Plan (“VCP”) awards was anti-dilutive and therefore excluded from the calculation of diluted net income per share, as discussed in Note 18. Share-Based Compensation. | |||||||||||||||||||||
Cash and Cash Equivalents, Policy | ' | ||||||||||||||||||||
Cash and cash equivalents—Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of three months or less. | |||||||||||||||||||||
Intangible Assets, Policy | ' | ||||||||||||||||||||
Intangible Assets—Intangible assets were $742 million and $803 million as of September 30, 2013 and December 31, 2012, respectively. Delphi amortizes definite-lived intangible assets over their estimated useful lives. Delphi has definite-lived intangible assets related to patents and developed technology, customer relationships, trade names and in-process research and development. Delphi does not amortize indefinite-lived in-process research and development, but tests for impairment annually, or more frequently when indicators of potential impairment exist. Costs to renew or extend the term of acquired intangible assets are recognized as expense as incurred. Amortization expense was $27 million and $79 million for the three and nine months ended September 30, 2013 and $20 million and $60 million for the three and nine months ended September 30, 2012, respectively. | |||||||||||||||||||||
Goodwill, Policy | ' | ||||||||||||||||||||
Goodwill—Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Delphi tests goodwill for impairment annually or more frequently when indications of potential impairment exist. Delphi monitors the existence of potential impairment indicators throughout the fiscal year. | |||||||||||||||||||||
The Company tests for goodwill impairment at the reporting unit level. Our reporting units are the components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. No components were aggregated in arriving at our reporting units. | |||||||||||||||||||||
The impairment test involves first qualitatively assessing goodwill for impairment. If the qualitative assessment is not met the Company then performs a quantitative assessment by first comparing the fair value of each reporting unit to its carrying value, including goodwill. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the fair value exceeds carrying value, no goodwill impairment has occurred. If the carrying value of the reporting unit exceeds its fair value, a second step is required to measure possible goodwill impairment loss. The second step includes hypothetically valuing the tangible and intangible assets and liabilities of the reporting unit as if the reporting unit had been acquired in a business combination. Then, the implied fair value of the reporting unit's goodwill is compared to the carrying value of that goodwill. If the carrying value of the reporting unit's goodwill exceeds the implied fair value of the goodwill, the Company recognizes an impairment loss in an amount equal to the excess, not to exceed the carrying value. Goodwill was $485 million and $473 million as of September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||
Warranty, Policy | ' | ||||||||||||||||||||
Warranty—Expected warranty costs for products sold are recognized at the time of sale of the product based on its estimate of the amount that eventually will be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. This estimate is adjusted from time to time based on facts and circumstances that impact the status of existing claims. Refer to Note 6. Warranty Obligations. | |||||||||||||||||||||
Restructuring, Policy | ' | ||||||||||||||||||||
Restructuring—Delphi continually evaluates alternatives to align the business with the changing needs of its customers and to lower operating costs. This includes the realignment of its existing manufacturing capacity, facility closures, or similar actions, either in the normal course of business or pursuant to significant restructuring programs. These actions may result in employees receiving voluntary or involuntary employee termination benefits, which are mainly pursuant to union or other contractual agreements. Voluntary termination benefits are accrued when an employee accepts the related offer. Involuntary termination benefits are accrued upon the commitment to a termination plan and the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable, depending on the existence of a substantive plan for severance or termination. Contract termination costs are recorded when contracts are terminated or when Delphi ceases to use the leased facility and no longer derives economic benefit from the contract. All other exit costs are expensed as incurred. Refer to Note 7. Restructuring. | |||||||||||||||||||||
Customer Concentations, Policy | ' | ||||||||||||||||||||
Customer concentrations—As reflected in the table below, net sales to GM and Volkswagen Group (“VW”), Delphi's two largest customers, totaled approximately 28% and 27% for the three and nine months ended September 30, 2013 and 29% and 29% for the three and nine months ended September 30, 2012 of our total net sales, respectively. | |||||||||||||||||||||
Percentage of Total Net Sales | Accounts and Other Receivables | ||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | September 30, | December 31, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||||||
GM | 18 | % | 18 | % | 17 | % | 18 | % | $ | 514 | $ | 382 | |||||||||
VW | 10 | % | 11 | % | 10 | % | 11 | % | 218 | 109 | |||||||||||
Recently Issued Accounting Pronouncements, Policy | ' | ||||||||||||||||||||
Recently issued accounting pronouncements—In December 2011, the Financial Accounting Standards Board (“FASB”) issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities. This guidance requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. In January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarified that the scope of ASU 2011-11 applies to derivatives and securities borrowing or lending transactions subject to an agreement similar to a master netting arrangement. The guidance is effective for annual periods beginning on or after January 1, 2013. Delphi adopted this guidance effective March 31, 2013 and applied it retrospectively for any period presented. Refer to Note 14. Derivatives and Hedging Activities for additional information. The adoption of this guidance did not have a significant impact on Delphi's financial statements. | |||||||||||||||||||||
In February 2013, the FASB issued ASU 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This guidance requires an organization to present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The guidance is effective for fiscal years beginning after December 15, 2012. Delphi adopted this guidance effective January 1, 2013. Refer to Note 13. Changes in Accumulated Other Comprehensive Income (Loss) for additional information. The adoption of this guidance did not have a significant impact on Delphi's financial statements. | |||||||||||||||||||||
In March 2013, the FASB issued ASU 2013-5, Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This guidance requires a reporting entity that ceases to have a controlling financial interest in a business with a foreign entity, other than a sale of in substance real estate or conveyance of oil and gas mineral rights, to release any related cumulative translation adjustment into net income. The guidance is effective for fiscal years beginning after December 15, 2013. The adoption of this guidance is not expected to have a significant impact on Delphi's financial statements. | |||||||||||||||||||||
Inventories, Policy | ' | ||||||||||||||||||||
Inventories are stated at the lower of cost, determined on a first-in, first-out basis, or market, including direct material costs and direct and indirect manufacturing costs | |||||||||||||||||||||
Pensions, Policy | ' | ||||||||||||||||||||
Certain of Delphi’s non-U.S. subsidiaries sponsor defined benefit pension plans, which generally provide benefits based on negotiated amounts for each year of service. Delphi’s primary non-U.S. plans are located in France, Germany, Mexico, Portugal and the United Kingdom (“U.K.”). The U.K. and certain Mexican plans are funded. In addition, Delphi has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded based on the vested obligation. | |||||||||||||||||||||
Delphi sponsors a Supplemental Executive Retirement Program (“SERP”) for those employees who were U.S. executives of the Predecessor prior to September 30, 2008 and were U.S. executives of Delphi on October 7, 2009, the effective date of the program. This program is unfunded. Executives receive benefits over 5 years after an involuntary or voluntary separation from Delphi. The SERP is closed to new members and was frozen effective September 30, 2008. | |||||||||||||||||||||
Guarantor, Policy | ' | ||||||||||||||||||||
In lieu of providing separate audited financial statements for the Guarantors, the Company has included the accompanying condensed consolidating financial statements. These condensed consolidating financial statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiary’s cumulative results of operations, capital contributions and distributions and other equity changes. The Guarantor Subsidiaries are combined in the condensed consolidating financial statements. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions. | |||||||||||||||||||||
Segment Reporting, Policy | ' | ||||||||||||||||||||
The accounting policies of the segments are the same as those described in Note 2. Significant Accounting Policies, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for the purposes of assisting internal operating decisions. Generally, Delphi evaluates performance based on stand-alone segment net income before depreciation and amortization (including long-lived asset and goodwill impairment), interest expense, other income (expense), net, income tax expense, equity income, net of tax, restructuring and other acquisition-related costs (“Adjusted EBITDA”) and accounts for inter-segment sales and transfers as if the sales or transfers were to third parties, at current market prices. Through December 31, 2012, the Company’s management believed that net income before depreciation and amortization (including long-lived asset and goodwill impairment), interest expense, other income (expense), net, income tax expense, equity income, net of tax, (“EBITDA”) was a meaningful measure of performance and it was used by management to analyze Company and stand-alone segment operating performance. Management also used EBITDA for planning and forecasting purposes. Effective January 1, 2013, Delphi’s management began utilizing Adjusted EBITDA as a key performance measure and for planning and forecasting purposes because of our restructuring and other acquisition-related costs. Segment Adjusted EBITDA and EBITDA should not be considered substitutes for results prepared in accordance with U.S. GAAP and should not be considered alternatives to net income attributable to Delphi, which is the most directly comparable financial measure to Adjusted EBITDA and EBITDA that is in accordance with U.S. GAAP. Segment Adjusted EBITDA and EBITDA, as determined and measured by Delphi, should also not be compared to similarly titled measures reported by other companies. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Schedule of Revenue by Major Customers by Reporting Segments | ' | ||||||||||||||||||||
As reflected in the table below, net sales to GM and Volkswagen Group (“VW”), Delphi's two largest customers, totaled approximately 28% and 27% for the three and nine months ended September 30, 2013 and 29% and 29% for the three and nine months ended September 30, 2012 of our total net sales, respectively. | |||||||||||||||||||||
Percentage of Total Net Sales | Accounts and Other Receivables | ||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | September 30, | December 31, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
(in millions) | |||||||||||||||||||||
GM | 18 | % | 18 | % | 17 | % | 18 | % | $ | 514 | $ | 382 | |||||||||
VW | 10 | % | 11 | % | 10 | % | 11 | % | 218 | 109 | |||||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current | ' | ||||||||
A summary of inventories is shown below: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Productive material | $ | 675 | $ | 586 | |||||
Work-in-process | 145 | 128 | |||||||
Finished goods | 413 | 352 | |||||||
Total | $ | 1,233 | $ | 1,066 | |||||
Assets_Tables
Assets (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Schedule of Other Current Assets | ' | ||||||||
Other current assets consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Value added tax receivable | $ | 181 | $ | 194 | |||||
Deferred income taxes | 153 | 148 | |||||||
Prepaid insurance and other expenses | 75 | 86 | |||||||
Reimbursable engineering costs | 63 | 52 | |||||||
Notes receivable | 44 | 22 | |||||||
Debt issuance costs (Note 8) | 10 | 17 | |||||||
Income and other taxes receivable | 74 | 47 | |||||||
Deposits to vendors | 11 | 15 | |||||||
Derivative financial instruments (Note 14) | 9 | 21 | |||||||
Other | 20 | 21 | |||||||
Total | $ | 640 | $ | 623 | |||||
Schedule of Other Assets, Noncurrent | ' | ||||||||
Other long-term assets consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Deferred income taxes | $ | 269 | $ | 281 | |||||
Debt issuance costs (Note 8) | 46 | 55 | |||||||
Income and other taxes receivable | 102 | 88 | |||||||
Reimbursable engineering costs | 87 | 50 | |||||||
Value added tax receivable | 30 | 33 | |||||||
Derivative financial instruments (Note 14) | 4 | 6 | |||||||
Other | 60 | 69 | |||||||
Total | $ | 598 | $ | 582 | |||||
Liabilities_Tables
Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||
Accrued Liabilities | ' | ||||||||
Accrued liabilities consisted of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Payroll-related obligations | $ | 305 | $ | 259 | |||||
Employee benefits, including current pension obligations | 102 | 123 | |||||||
Executive long-term incentive plan (Note 18) | — | 20 | |||||||
Income and other taxes payable | 210 | 261 | |||||||
Warranty obligations (Note 6) | 76 | 92 | |||||||
Restructuring (Note 7) | 119 | 118 | |||||||
Customer deposits | 29 | 35 | |||||||
Deferred income taxes | 16 | 12 | |||||||
Derivative financial instruments (Note 14) | 28 | 12 | |||||||
Accrued interest | 29 | 9 | |||||||
Dividends payable of consolidated affiliates to minority shareholders | 51 | — | |||||||
Other | 329 | 300 | |||||||
Total | $ | 1,294 | $ | 1,241 | |||||
Liabilities, Noncurrent | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Environmental (Note 10) | $ | 20 | $ | 18 | |||||
Extended disability benefits | 13 | 12 | |||||||
Warranty obligations (Note 6) | 93 | 74 | |||||||
Restructuring (Note 7) | 31 | 45 | |||||||
Payroll-related obligations | 11 | 11 | |||||||
Accrued income taxes | 32 | 38 | |||||||
Deferred income taxes | 210 | 185 | |||||||
Derivative financial instruments (Note 14) | 10 | 1 | |||||||
Other | 43 | 50 | |||||||
Total | $ | 463 | $ | 434 | |||||
Warranty_Obligations_Tables
Warranty Obligations (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Product Warranties Disclosures [Abstract] | ' | |||
Schedule of Product Warranty Liability | ' | |||
The table below summarizes the activity in the product warranty liability for the nine months ended September 30, 2013: | ||||
Warranty Obligations | ||||
(in millions) | ||||
Accrual balance at beginning of period | $ | 166 | ||
Provision for estimated warranties incurred during the period | 52 | |||
Provision for changes in estimate for pre-existing warranties | (2 | ) | ||
Settlements made during the period (in cash or in kind) | (50 | ) | ||
Foreign currency translation and other | 3 | |||
Accrual balance at end of period | $ | 169 | ||
Restructuring_Tables
Restructuring (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Schedule of Restructuring and Related Costs | ' | ||||||||||||||||
The following table summarizes the restructuring charges recorded for the three and nine months ended September 30, 2013 and 2012 by operating segment: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
Segment | 2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | |||||||||||||||||
Electrical/Electronic Architecture | $ | 7 | $ | 1 | $ | 26 | $ | 6 | |||||||||
Powertrain Systems | 8 | — | 20 | 4 | |||||||||||||
Electronics and Safety | 19 | 1 | 44 | 3 | |||||||||||||
Thermal Systems | 3 | 1 | 5 | 4 | |||||||||||||
Total | $ | 37 | $ | 3 | $ | 95 | $ | 17 | |||||||||
Schedule of Restructuring Reserve by Type of Cost | ' | ||||||||||||||||
The table below summarizes the activity in the restructuring liability for the nine months ended September 30, 2013: | |||||||||||||||||
Employee | Other Exit | Total | |||||||||||||||
Termination | Costs Liability | ||||||||||||||||
Benefits | |||||||||||||||||
Liability | |||||||||||||||||
(in millions) | |||||||||||||||||
Accrual balance at January 1, 2013 | $ | 157 | $ | 6 | $ | 163 | |||||||||||
Provision for estimated expenses incurred during the period | 94 | 1 | 95 | ||||||||||||||
Payments made during the period | (103 | ) | (3 | ) | (106 | ) | |||||||||||
Foreign currency and other | (2 | ) | — | (2 | ) | ||||||||||||
Accrual balance at September 30, 2013 | $ | 146 | $ | 4 | $ | 150 | |||||||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||
Schedule of Long-term Debt Instruments | ' | |||||||||||
The following is a summary of debt outstanding, net of discounts of approximately $0 million and $4 million related to the Tranche A Term Loan and the Tranche B Term Loan, defined below, as of September 30, 2013 and December 31, 2012: | ||||||||||||
September 30, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
(in millions) | ||||||||||||
Accounts receivable factoring | $ | — | $ | 19 | ||||||||
5.875%, senior notes, due 2019 | 500 | 500 | ||||||||||
6.125%, senior notes, due 2021 | 500 | 500 | ||||||||||
5.00%, senior notes, due 2023 | 800 | — | ||||||||||
Tranche A Term Loan, due 2018 | 568 | 567 | ||||||||||
Tranche B Term Loan, due 2017 | — | 772 | ||||||||||
Capital leases and other | 50 | 106 | ||||||||||
Total debt | 2,418 | 2,464 | ||||||||||
Less: current portion | (59 | ) | (140 | ) | ||||||||
Long-term debt | $ | 2,359 | $ | 2,324 | ||||||||
Schedule of Interest Rates | ' | |||||||||||
A comparison of the Applicable Rates under the 2012 Credit Agreement and current Credit Agreement is set forth below: | ||||||||||||
Credit Agreement (September 30, 2013) | 2012 Credit Agreement (December 31, 2012) | |||||||||||
LIBOR plus | ABR plus | LIBOR plus | ABR plus | |||||||||
Revolving Credit Facility | 1.5 | % | 0.5 | % | 2 | % | 1 | % | ||||
Tranche A Term Loan | 1.5 | % | 0.5 | % | 2 | % | 1 | % | ||||
Tranche B Term Loan | N/A | N/A | 2.5 | % | 1.5 | % | ||||||
Schedule of Line of Credit Facilities | ' | |||||||||||
As of September 30, 2013, the Issuer selected the one-month LIBOR interest rate option, as detailed in the table below, and the amounts outstanding, and rates effective as of September 30, 2013 were based on Delphi’s current credit rating and applicable margin for the Credit Agreement: | ||||||||||||
Borrowings as of | Rates effective as of | |||||||||||
LIBOR plus | September 30, 2013 | September 30, 2013 | ||||||||||
Revolving Credit Facility | 1.5 | % | $ | — | — | % | ||||||
Tranche A Term Loan | 1.5 | % | 568 | 1.6875 | % | |||||||
Pension_Benefits_Tables
Pension Benefits (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Non-U.S. Plans | ' | |||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||
Schedule of Net Benefit Costs | ' | |||||||||||||||
The amounts shown below reflect the defined benefit pension expense for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Non-U.S. Plans | U.S. Plans | |||||||||||||||
Three Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Service cost | $ | 13 | $ | 11 | $ | — | $ | — | ||||||||
Interest cost | 22 | 22 | — | — | ||||||||||||
Expected return on plan assets | (17 | ) | (17 | ) | — | — | ||||||||||
Amortization of actuarial losses | 1 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 19 | $ | 16 | $ | — | $ | — | ||||||||
Non-U.S. Plans | U.S. Plans | |||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Service cost | $ | 41 | $ | 34 | $ | — | $ | — | ||||||||
Interest cost | 65 | 63 | 1 | 2 | ||||||||||||
Expected return on plan assets | (52 | ) | (50 | ) | — | — | ||||||||||
Amortization of actuarial losses | 5 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 59 | $ | 47 | $ | 1 | $ | 2 | ||||||||
U.S. Plans | ' | |||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||
Schedule of Net Benefit Costs | ' | |||||||||||||||
The amounts shown below reflect the defined benefit pension expense for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Non-U.S. Plans | U.S. Plans | |||||||||||||||
Three Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Service cost | $ | 13 | $ | 11 | $ | — | $ | — | ||||||||
Interest cost | 22 | 22 | — | — | ||||||||||||
Expected return on plan assets | (17 | ) | (17 | ) | — | — | ||||||||||
Amortization of actuarial losses | 1 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 19 | $ | 16 | $ | — | $ | — | ||||||||
Non-U.S. Plans | U.S. Plans | |||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Service cost | $ | 41 | $ | 34 | $ | — | $ | — | ||||||||
Interest cost | 65 | 63 | 1 | 2 | ||||||||||||
Expected return on plan assets | (52 | ) | (50 | ) | — | — | ||||||||||
Amortization of actuarial losses | 5 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 59 | $ | 47 | $ | 1 | $ | 2 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||
A reconciliation of the provision for income taxes compared with the amounts at the notional U.S. federal statutory rate was: | |||||||||
Nine Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
(in millions) | |||||||||
Notional U.S. federal income taxes at statutory rate | $ | 398 | $ | 425 | |||||
Income taxed at other rates | (219 | ) | (192 | ) | |||||
Change in valuation allowance | — | (1 | ) | ||||||
Other change in tax reserves | (5 | ) | (12 | ) | |||||
Withholding taxes | 38 | 11 | |||||||
Tax credits | (48 | ) | (12 | ) | |||||
Change in tax law | 12 | 6 | |||||||
Other adjustments | 6 | 2 | |||||||
Total income tax expense | $ | 182 | $ | 227 | |||||
Effective tax rate | 16 | % | 19 | % |
Shareholders_Equity_And_Net_In1
Shareholders' Equity And Net Income Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Shareholders' Equity and Net Income Per Share Note [Abstract] | ' | |||||||||||||||
Schedule of Weighted Average Number of Shares | ' | |||||||||||||||
The following table illustrates net income per share attributable to Delphi and the weighted average shares outstanding used in calculating basic and diluted income per share: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions, except per share data) | ||||||||||||||||
Numerator: | ||||||||||||||||
Net income attributable to Delphi | $ | 271 | $ | 269 | $ | 914 | $ | 941 | ||||||||
Denominator: | ||||||||||||||||
Weighted average ordinary shares outstanding, basic | 309.68 | 320.93 | 312.08 | 325 | ||||||||||||
Dilutive shares related to Restricted Stock Units ("RSUs") | 0.94 | 0.35 | 0.79 | 0.28 | ||||||||||||
Weighted average ordinary shares outstanding, including dilutive shares | 310.62 | 321.28 | 312.87 | 325.28 | ||||||||||||
Net income per share attributable to Delphi: | ||||||||||||||||
Basic | $ | 0.88 | $ | 0.84 | $ | 2.93 | $ | 2.89 | ||||||||
Diluted | $ | 0.87 | $ | 0.84 | $ | 2.92 | $ | 2.89 | ||||||||
Anti-dilutive securities share impact: | — | 3.5 | — | 3.16 | ||||||||||||
Schedule of Share Repurchases | ' | |||||||||||||||
A summary of the ordinary shares repurchased during the three and nine months ended September 30, 2013 and September 30, 2012 is as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Total Number of Shares Repurchased | 2,120,000 | 5,443,213 | 7,415,583 | 10,740,453 | ||||||||||||
Average Price Paid per Share | $ | 56.5 | $ | 29.78 | $ | 48.8 | $ | 29.08 | ||||||||
Total (in millions) | $ | 120 | $ | 162 | $ | 362 | $ | 312 | ||||||||
Schedule of Dividends Declared | ' | |||||||||||||||
During the nine months ended September 30, 2013, the Company declared and paid cash dividends per common share as follows: | ||||||||||||||||
2013 | ||||||||||||||||
Dividend | Amount | |||||||||||||||
Three months ended: | Per Share | (in millions) | ||||||||||||||
30-Sep | $ | 0.17 | $ | 53 | ||||||||||||
30-Jun | 0.17 | 53 | ||||||||||||||
31-Mar | 0.17 | 53 | ||||||||||||||
Total | $ | 0.51 | $ | 159 | ||||||||||||
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||||
Schedule of Accumulated Other Comprehensive Income | ' | |||||||||||||||
The changes in accumulated other comprehensive income (loss) attributable to Delphi (net of tax) for the three and nine months ended September 30, 2013 and September 30, 2012 are as follows: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(in millions) | ||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||
Balance at beginning of period | $ | (179 | ) | $ | (193 | ) | $ | (62 | ) | $ | (120 | ) | ||||
Aggregate adjustment for the period | 110 | 82 | (7 | ) | 9 | |||||||||||
Balance at end of period | (69 | ) | (111 | ) | (69 | ) | (111 | ) | ||||||||
Gains (losses) on derivatives: | ||||||||||||||||
Balance at beginning of period | $ | (25 | ) | $ | (9 | ) | $ | 14 | $ | (45 | ) | |||||
Other comprehensive income before reclassifications (net tax effect of $10 million, $15 million, $9 million and $35 million) | 4 | 24 | (29 | ) | 59 | |||||||||||
Reclassification to income (net tax effect of $5 million, $0 million, $1 million and $1 million) | 6 | 2 | — | 3 | ||||||||||||
Balance at end of period | (15 | ) | 17 | (15 | ) | 17 | ||||||||||
Pension and postretirement plans: | ||||||||||||||||
Balance at beginning of period | $ | (173 | ) | $ | (19 | ) | $ | (189 | ) | $ | (18 | ) | ||||
Other comprehensive income before reclassifications (net tax effect of $2 million, $0 million, $2 million and $0 million) | (7 | ) | — | 6 | (1 | ) | ||||||||||
Reclassification to income (net tax effect of $0 million, $0 million, $1 million and $0 million) | 2 | (1 | ) | 5 | (1 | ) | ||||||||||
Balance at end of period | (178 | ) | (20 | ) | (178 | ) | (20 | ) | ||||||||
Accumulated other comprehensive (loss) income, end of period | (262 | ) | (114 | ) | (262 | ) | (114 | ) | ||||||||
Reclassifications from accumulated other comprehensive income to income for the three and nine months ended September 30, 2013 were as follows: | ||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income | ||||||||||||||||
Details about Accumulated Other Comprehensive Income Components | Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | Affected Line Item in the Statement of Operations | |||||||||||||
(in millions) | ||||||||||||||||
Gains (losses) on derivatives: | ||||||||||||||||
Commodity derivatives | $ | (8 | ) | $ | (17 | ) | Cost of Sales | |||||||||
Foreign currency derivatives | 5 | 19 | Cost of Sales | |||||||||||||
Foreign currency derivatives | (8 | ) | (3 | ) | Other Income | |||||||||||
(11 | ) | (1 | ) | Total loss before income taxes | ||||||||||||
5 | 1 | Income tax benefit (expense) | ||||||||||||||
(6 | ) | — | Net loss | |||||||||||||
— | — | Net income attributable to noncontrolling interest | ||||||||||||||
$ | (6 | ) | $ | — | Net loss attributable to Delphi | |||||||||||
Pension and postretirement plans: | ||||||||||||||||
Actuarial gains/(losses) | $ | (2 | ) | $ | (6 | ) | -1 | |||||||||
(2 | ) | (6 | ) | Total loss before income taxes | ||||||||||||
— | 1 | Income tax benefit | ||||||||||||||
(2 | ) | (5 | ) | Net loss | ||||||||||||
— | — | Net income attributable to noncontrolling interest | ||||||||||||||
$ | (2 | ) | $ | (5 | ) | Net loss attributable to Delphi | ||||||||||
Total reclassifications for the period | $ | (8 | ) | $ | (5 | ) | ||||||||||
-1 | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 9. Pension Benefits for additional details). |
Derivatives_And_Hedging_Activi1
Derivatives And Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions | ' | ||||||||||||||
As of September 30, 2013, the Company had the following outstanding notional amounts related to commodity and foreign currency forward contracts that were entered into to hedge forecasted exposures: | |||||||||||||||
Commodity | Quantity | Unit of | |||||||||||||
Hedged | Measure | ||||||||||||||
(in thousands) | |||||||||||||||
Copper | 87,633 | pounds | |||||||||||||
Primary Aluminum | 34,425 | pounds | |||||||||||||
Secondary Aluminum | 19,021 | pounds | |||||||||||||
Foreign Currency | Quantity | Unit of | Notional Amount | ||||||||||||
Hedged | Measure | (Approximate USD Equivalent) | |||||||||||||
(in millions) | |||||||||||||||
Mexican Peso | 10,856 | MXN | $ | 830 | |||||||||||
Euro | 181 | EUR | 245 | ||||||||||||
Polish Zloty | 322 | PLN | 105 | ||||||||||||
New Turkish Lira | 214 | TRY | 105 | ||||||||||||
Brazilian Real | 193 | BRL | 85 | ||||||||||||
Chinese Yuan Renminbi | 406 | CNY | 65 | ||||||||||||
Hungarian Forint | 10,877 | HUF | 50 | ||||||||||||
Romanian Leu | 138 | RON | 40 | ||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | ' | ||||||||||||||
The fair value of derivative financial instruments recorded in the consolidated balance sheets as of September 30, 2013 and December 31, 2012 are as follows: | |||||||||||||||
Asset Derivatives | Liability Derivatives | Net Amounts of Assets and Liabilities Presented in the Balance Sheet | |||||||||||||
Balance Sheet Location | September 30, | Balance Sheet Location | September 30, | September 30, | |||||||||||
2013 | 2013 | 2013 | |||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | Other Current Assets | $ | 1 | Accrued Liabilities | $ | 16 | |||||||||
Foreign currency derivatives* | Other Current Assets | 8 | Other Current Assets | 2 | 6 | ||||||||||
Foreign currency derivatives* | Accrued Liabilities | 5 | Accrued Liabilities | 15 | (10 | ) | |||||||||
Commodity derivatives | Other Long-Term Assets | 1 | Other Long-Term Liabilities | 4 | |||||||||||
Foreign currency derivatives* | Other Long-Term Assets | 4 | Other Long-Term Assets | 1 | 3 | ||||||||||
Foreign currency derivatives* | Other Long-Term Liabilities | 1 | Other Long-Term Liabilities | 7 | (6 | ) | |||||||||
Total | $ | 20 | $ | 45 | |||||||||||
Derivatives not designated: | |||||||||||||||
Foreign currency derivatives* | Other Current Assets | $ | 3 | Other Current Assets | $ | 1 | 2 | ||||||||
Foreign currency derivatives* | Accrued Liabilities | — | Accrued Liabilities | 2 | (2 | ) | |||||||||
Total | $ | 3 | $ | 3 | |||||||||||
Asset Derivatives | Liability Derivatives | Net Amounts of Assets and Liabilities Presented in the Balance Sheet | |||||||||||||
Balance Sheet Location | December 31, 2012 | Balance Sheet Location | December 31, 2012 | December 31, 2012 | |||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | Other Current Assets | $ | 2 | Accrued Liabilities | $ | 7 | |||||||||
Foreign currency derivatives* | Other Current Assets | 24 | Other Current Assets | 5 | 19 | ||||||||||
Foreign currency derivatives* | Accrued Liabilities | — | Accrued Liabilities | 5 | (5 | ) | |||||||||
Commodity derivatives | Other Long-Term Assets | 1 | Other Long-Term Liabilities | 1 | |||||||||||
Foreign currency derivatives* | Other Long-Term Assets | 7 | Other Long-Term Assets | 2 | 5 | ||||||||||
Total | $ | 34 | $ | 20 | |||||||||||
Derivatives not designated: | |||||||||||||||
None | |||||||||||||||
* Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts. | |||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | ' | ||||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2013 is as follows: | |||||||||||||||
Three Months Ended September 30, 2013 | Gain (Loss) | Loss | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | 24 | $ | (8 | ) | $ | — | ||||||||
Foreign currency derivatives | (10 | ) | (3 | ) | — | ||||||||||
Total | $ | 14 | $ | (11 | ) | $ | — | ||||||||
Gain | |||||||||||||||
Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | 1 | ||||||||||||||
Total | $ | 1 | |||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three months ended September 30, 2012 is as follows: | |||||||||||||||
Three Months Ended September 30, 2012 | Gain | (Loss) Gain | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | 15 | $ | (7 | ) | $ | — | ||||||||
Foreign currency derivatives | 24 | 5 | — | ||||||||||||
Total | $ | 39 | $ | (2 | ) | $ | — | ||||||||
Loss | |||||||||||||||
Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | (1 | ) | |||||||||||||
Total | $ | (1 | ) | ||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2013 is as follows: | |||||||||||||||
Nine Months Ended September 30, 2013 | Loss | (Loss) Gain | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | (31 | ) | $ | (17 | ) | $ | — | |||||||
Foreign currency derivatives | (7 | ) | 16 | — | |||||||||||
Total | $ | (38 | ) | $ | (1 | ) | $ | — | |||||||
Gain Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | 1 | ||||||||||||||
Total | $ | 1 | |||||||||||||
The effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the nine months ended September 30, 2012 is as follows: | |||||||||||||||
Nine Months Ended September 30, 2012 | Gain | (Loss) Gain | Gain Recognized | ||||||||||||
Recognized in | Reclassified | in Income | |||||||||||||
OCI (Effective | from OCI | (Ineffective | |||||||||||||
Portion) | into Income | Portion Excluded | |||||||||||||
(Effective | from Effectiveness | ||||||||||||||
Portion) | Testing) | ||||||||||||||
(in millions) | |||||||||||||||
Designated derivatives instruments: | |||||||||||||||
Commodity derivatives | $ | 19 | $ | (9 | ) | $ | — | ||||||||
Foreign currency derivatives | 75 | 5 | 1 | ||||||||||||
Total | $ | 94 | $ | (4 | ) | $ | 1 | ||||||||
Loss | |||||||||||||||
Recognized in | |||||||||||||||
Income | |||||||||||||||
Derivatives not designated: | |||||||||||||||
Commodity derivatives | $ | — | |||||||||||||
Foreign currency derivatives | (5 | ) | |||||||||||||
Total | $ | (5 | ) |
Fair_Value_Of_Financial_Instru1
Fair Value Of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis | ' | ||||||||||||||||
As of September 30, 2013 and December 31, 2012, Delphi had the following assets measured at fair value on a recurring basis: | |||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
Level 1 | Level 2 | Inputs | |||||||||||||||
Level 3 | |||||||||||||||||
(in millions) | |||||||||||||||||
As of September 30, 2013 | |||||||||||||||||
Commodity derivatives | $ | 2 | $ | — | $ | 2 | $ | — | |||||||||
Foreign currency derivatives | 11 | — | 11 | — | |||||||||||||
Total | $ | 13 | $ | — | $ | 13 | $ | — | |||||||||
As of December 31, 2012: | |||||||||||||||||
Commodity derivatives | $ | 3 | $ | — | $ | 3 | $ | — | |||||||||
Foreign currency derivatives | 24 | — | 24 | — | |||||||||||||
Total | $ | 27 | $ | — | $ | 27 | $ | — | |||||||||
Fair Value, Liabilities Measured on Recurring Basis | ' | ||||||||||||||||
As of September 30, 2013 and December 31, 2012, Delphi had the following liabilities measured at fair value on a recurring basis: | |||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
Level 1 | Level 2 | Inputs | |||||||||||||||
Level 3 | |||||||||||||||||
(in millions) | |||||||||||||||||
As of September 30, 2013 | |||||||||||||||||
Commodity derivatives | $ | 20 | $ | — | $ | 20 | $ | — | |||||||||
Foreign currency derivatives | 18 | — | 18 | — | |||||||||||||
Total | $ | 38 | $ | — | $ | 38 | $ | — | |||||||||
As of December 31, 2012: | |||||||||||||||||
Commodity derivatives | $ | 8 | $ | — | $ | 8 | $ | — | |||||||||
Foreign currency derivatives | 5 | — | 5 | — | |||||||||||||
Total | $ | 13 | $ | — | $ | 13 | $ | — | |||||||||
Other_Income_Net_Tables
Other Income, Net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||||||
Interest and Other Income | ' | ||||||||||||||||
Other income, net included: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in millions) | |||||||||||||||||
Interest income | $ | 4 | $ | 5 | $ | 11 | $ | 14 | |||||||||
Loss on extinguishment of debt | — | (1 | ) | (39 | ) | (1 | ) | ||||||||||
Other, net | — | (1 | ) | 3 | 2 | ||||||||||||
Other income (expense), net | $ | 4 | $ | 3 | $ | (25 | ) | $ | 15 | ||||||||
Acquisitions_And_Divestitures_
Acquisitions And Divestitures (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Business Combinations [Abstract] | ' | |||
Schedule of Business Acquisitions, Purchase Price Allocation | ' | |||
Assets acquired and liabilities assumed | ||||
Purchase price, net of cash acquired | $ | 978 | ||
Property, plant and equipment | $ | 249 | ||
Intangible assets | 278 | |||
Other assets purchased and liabilities assumed, net | (7 | ) | ||
Identifiable net assets acquired | 520 | |||
Goodwill resulting from purchase | 458 | |||
Total purchase price allocation | $ | 978 | ||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Schedule of Share Based Compensation Restricted Stock Units Performance Awards Weighting | ' | |||||||
Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics, which are: | ||||||||
Metric | 2013 Grant | 2012 Grant | ||||||
Average Return on Net Assets (1) | 50 | % | 50 | % | ||||
Cumulative Net Income | N/A | 30 | % | |||||
Cumulative Earnings Per Share (2) | 30 | % | N/A | |||||
Relative Total Shareholder Return (3) | 20 | % | 20 | % | ||||
-1 | Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment expense for each calendar year during the respective performance period. | |||||||
-2 | Cumulative earnings per share is measured by net income attributable to Delphi divided by the weighted average number of diluted shares outstanding for calendar years 2013-2015. | |||||||
-3 | Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for all available trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company’s ordinary shares for all available trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies. | |||||||
Schedule of Share-based Compensation Restricted Stock Units Award Activity | ' | |||||||
A summary of activity, including award grants, vesting and forfeitures is provided below | ||||||||
RSUs | Weighted Average Grant | |||||||
Date Fair Value | ||||||||
(in thousands) | ||||||||
Outstanding, January 1, 2013 | 1,899 | $ | 31.09 | |||||
Granted | 1,505 | 41.51 | ||||||
Vested | (285 | ) | 29.26 | |||||
Forfeited | (188 | ) | 34.16 | |||||
Outstanding, September 30, 2013 | 2,931 | 36.41 | ||||||
Supplemental_Guarantor_And_Non1
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Condensed Income Statement | ' | ||||||||||||||||||||||||
Statement of Operations Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,368 | $ | 2,993 | $ | (344 | ) | $ | 4,017 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 1,203 | 2,483 | (348 | ) | 3,338 | ||||||||||||||||||
Selling, general and administrative | 41 | — | 43 | 143 | 1 | 228 | |||||||||||||||||||
Amortization | — | — | 14 | 13 | — | 27 | |||||||||||||||||||
Restructuring | — | — | 3 | 34 | — | 37 | |||||||||||||||||||
Total operating expenses | 41 | — | 1,263 | 2,673 | (347 | ) | 3,630 | ||||||||||||||||||
Operating (loss) income | (41 | ) | — | 105 | 320 | 3 | 387 | ||||||||||||||||||
Interest expense | (15 | ) | (47 | ) | (16 | ) | (3 | ) | 47 | (34 | ) | ||||||||||||||
Other income (expense), net | 15 | 15 | 1 | 17 | (44 | ) | 4 | ||||||||||||||||||
(Loss) income before income taxes and equity income | (41 | ) | (32 | ) | 90 | 334 | 6 | 357 | |||||||||||||||||
Income tax benefit (expense) | — | 12 | (27 | ) | (56 | ) | (1 | ) | (72 | ) | |||||||||||||||
(Loss) income before equity income | (41 | ) | (20 | ) | 63 | 278 | 5 | 285 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 8 | — | 8 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 312 | 74 | — | — | (386 | ) | — | ||||||||||||||||||
Net income (loss) | 271 | 54 | 63 | 286 | (381 | ) | 293 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 22 | — | 22 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 271 | $ | 54 | $ | 63 | $ | 264 | $ | (381 | ) | $ | 271 | ||||||||||||
Statement of Operations Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 4,084 | $ | 9,210 | $ | (1,013 | ) | $ | 12,281 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 3,556 | 7,611 | (1,026 | ) | 10,141 | ||||||||||||||||||
Selling, general and administrative | 120 | — | 145 | 432 | 2 | 699 | |||||||||||||||||||
Amortization | — | — | 41 | 38 | — | 79 | |||||||||||||||||||
Restructuring | — | — | 10 | 85 | — | 95 | |||||||||||||||||||
Total operating expenses | 120 | — | 3,752 | 8,166 | (1,024 | ) | 11,014 | ||||||||||||||||||
Operating (loss) income | (120 | ) | — | 332 | 1,044 | 11 | 1,267 | ||||||||||||||||||
Interest expense | (41 | ) | (141 | ) | (47 | ) | (9 | ) | 132 | (106 | ) | ||||||||||||||
Other income (expense), net | 45 | 9 | 2 | 49 | (130 | ) | (25 | ) | |||||||||||||||||
(Loss) income before income taxes and equity income | (116 | ) | (132 | ) | 287 | 1,084 | 13 | 1,136 | |||||||||||||||||
Income tax benefit (expense) | — | 49 | (69 | ) | (158 | ) | (4 | ) | (182 | ) | |||||||||||||||
(Loss) income before equity income | (116 | ) | (83 | ) | 218 | 926 | 9 | 954 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 26 | — | 26 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 1,030 | 252 | — | — | (1,282 | ) | — | ||||||||||||||||||
Net income (loss) | 914 | 169 | 218 | 952 | (1,273 | ) | 980 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 66 | — | 66 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 914 | $ | 169 | $ | 218 | $ | 886 | $ | (1,273 | ) | $ | 914 | ||||||||||||
Statement of Operations Three Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,339 | $ | 2,696 | $ | (372 | ) | $ | 3,663 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 1,158 | 2,277 | (377 | ) | 3,058 | ||||||||||||||||||
Selling, general and administrative | 33 | — | 66 | 117 | (1 | ) | 215 | ||||||||||||||||||
Amortization | — | — | 14 | 6 | — | 20 | |||||||||||||||||||
Restructuring | — | — | 1 | 2 | — | 3 | |||||||||||||||||||
Total operating expenses | 33 | — | 1,239 | 2,402 | (378 | ) | 3,296 | ||||||||||||||||||
Operating (loss) income | (33 | ) | — | 100 | 294 | 6 | 367 | ||||||||||||||||||
Interest expense | (18 | ) | (47 | ) | (15 | ) | (3 | ) | 51 | (32 | ) | ||||||||||||||
Other income (expense), net | 16 | 28 | (2 | ) | 12 | (51 | ) | 3 | |||||||||||||||||
(Loss) income before income taxes and equity income | (35 | ) | (19 | ) | 83 | 303 | 6 | 338 | |||||||||||||||||
Income tax benefit (expense) | — | 7 | (22 | ) | (35 | ) | (2 | ) | (52 | ) | |||||||||||||||
(Loss) income before equity income | (35 | ) | (12 | ) | 61 | 268 | 4 | 286 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 6 | — | 6 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 304 | 61 | — | — | (365 | ) | — | ||||||||||||||||||
Net income (loss) | 269 | 49 | 61 | 274 | (361 | ) | 292 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 23 | — | 23 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 269 | $ | 49 | $ | 61 | $ | 251 | $ | (361 | ) | $ | 269 | ||||||||||||
Statement of Operations Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 4,234 | $ | 8,667 | $ | (1,149 | ) | $ | 11,752 | ||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Cost of sales | — | — | 3,614 | 7,253 | (1,164 | ) | 9,703 | ||||||||||||||||||
Selling, general and administrative | 96 | — | 214 | 364 | (1 | ) | 673 | ||||||||||||||||||
Amortization | — | — | 41 | 19 | — | 60 | |||||||||||||||||||
Restructuring | — | — | 5 | 12 | — | 17 | |||||||||||||||||||
Total operating expenses | 96 | — | 3,874 | 7,648 | (1,165 | ) | 10,453 | ||||||||||||||||||
Operating (loss) income | (96 | ) | — | 360 | 1,019 | 16 | 1,299 | ||||||||||||||||||
Interest expense | (53 | ) | (129 | ) | (38 | ) | (10 | ) | 130 | (100 | ) | ||||||||||||||
Other income (expense), net | 38 | 73 | (2 | ) | 36 | (130 | ) | 15 | |||||||||||||||||
(Loss) income before income taxes and equity income | (111 | ) | (56 | ) | 320 | 1,045 | 16 | 1,214 | |||||||||||||||||
Income tax benefit (expense) | — | 21 | (85 | ) | (158 | ) | (5 | ) | (227 | ) | |||||||||||||||
(Loss) income before equity income | (111 | ) | (35 | ) | 235 | 887 | 11 | 987 | |||||||||||||||||
Equity in net income of affiliates | — | — | — | 18 | — | 18 | |||||||||||||||||||
Equity in net income (loss) of subsidiaries | 1,052 | 235 | — | — | (1,287 | ) | — | ||||||||||||||||||
Net income (loss) | 941 | 200 | 235 | 905 | (1,276 | ) | 1,005 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 64 | — | 64 | |||||||||||||||||||
Net income (loss) attributable to Delphi | $ | 941 | $ | 200 | $ | 235 | $ | 841 | $ | (1,276 | ) | $ | 941 | ||||||||||||
Schedule of Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
Statement of Comprehensive Income Three Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 271 | $ | 54 | $ | 63 | $ | 286 | $ | (381 | ) | $ | 293 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | 113 | — | 113 | |||||||||||||||||||
Net change in unrecognized gain (loss) on derivative instruments, net of tax | — | — | 12 | (2 | ) | — | 10 | ||||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | (5 | ) | — | (5 | ) | |||||||||||||||||
Other comprehensive income | — | — | 12 | 106 | — | 118 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 115 | 12 | — | — | (127 | ) | — | ||||||||||||||||||
Comprehensive income (loss) | 386 | 66 | 75 | 392 | (508 | ) | 411 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 25 | — | 25 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 386 | $ | 66 | $ | 75 | $ | 367 | $ | (508 | ) | $ | 386 | ||||||||||||
Statement of Comprehensive Income Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 914 | $ | 169 | $ | 218 | $ | 952 | $ | (1,273 | ) | $ | 980 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | (4 | ) | — | (4 | ) | |||||||||||||||||
Net change in unrecognized gain on derivative instruments, net of tax | — | — | (27 | ) | (2 | ) | — | (29 | ) | ||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | 11 | — | 11 | |||||||||||||||||||
Other comprehensive (loss) income | — | — | (27 | ) | 5 | — | (22 | ) | |||||||||||||||||
Equity in other comprehensive (loss) income of subsidiaries | (25 | ) | (27 | ) | — | — | 52 | — | |||||||||||||||||
Comprehensive income (loss) | 889 | 142 | 191 | 957 | (1,221 | ) | 958 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 69 | — | 69 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 889 | $ | 142 | $ | 191 | $ | 888 | $ | (1,221 | ) | $ | 889 | ||||||||||||
Statement of Comprehensive Income Three Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 269 | $ | 49 | $ | 61 | $ | 274 | $ | (361 | ) | $ | 292 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | 82 | — | 82 | |||||||||||||||||||
Net change in unrecognized gain on derivative instruments, net of tax | — | — | 26 | — | — | 26 | |||||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | (1 | ) | — | (1 | ) | |||||||||||||||||
Other comprehensive income | — | — | 26 | 81 | — | 107 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 106 | 26 | — | — | (132 | ) | — | ||||||||||||||||||
Comprehensive income (loss) | 375 | 75 | 87 | 355 | (493 | ) | 399 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 24 | — | 24 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 375 | $ | 75 | $ | 87 | $ | 331 | $ | (493 | ) | $ | 375 | ||||||||||||
Statement of Comprehensive Income Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net income (loss) | $ | 941 | $ | 200 | $ | 235 | $ | 905 | $ | (1,276 | ) | $ | 1,005 | ||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||||
Currency translation adjustments | — | — | — | 9 | — | 9 | |||||||||||||||||||
Net change in unrecognized gain on derivative instruments, net of tax | — | — | 62 | — | — | 62 | |||||||||||||||||||
Employee benefit plans adjustment, net of tax | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Other comprehensive income | — | — | 62 | 7 | — | 69 | |||||||||||||||||||
Equity in other comprehensive income (loss) of subsidiaries | 69 | 62 | — | — | (131 | ) | — | ||||||||||||||||||
Comprehensive income (loss) | 1,010 | 262 | 297 | 912 | (1,407 | ) | 1,074 | ||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | 64 | — | 64 | |||||||||||||||||||
Comprehensive income (loss) attributable to Delphi | $ | 1,010 | $ | 262 | $ | 297 | $ | 848 | $ | (1,407 | ) | $ | 1,010 | ||||||||||||
Schedule of Condensed Balance Sheet | ' | ||||||||||||||||||||||||
Balance Sheet as of September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 16 | $ | — | $ | 68 | $ | 969 | $ | — | $ | 1,053 | |||||||||||||
Restricted cash | — | — | — | 5 | — | 5 | |||||||||||||||||||
Accounts receivable, net | — | — | 822 | 2,034 | — | 2,856 | |||||||||||||||||||
Inventories | — | — | 367 | 876 | (10 | ) | 1,233 | ||||||||||||||||||
Other current assets | — | 10 | 176 | 463 | (9 | ) | 640 | ||||||||||||||||||
Total current assets | 16 | 10 | 1,433 | 4,347 | (19 | ) | 5,787 | ||||||||||||||||||
Long-term assets: | |||||||||||||||||||||||||
Property, net | — | — | 645 | 2,337 | — | 2,982 | |||||||||||||||||||
Investments in affiliates | — | — | — | 217 | — | 217 | |||||||||||||||||||
Investments in subsidiaries | 4,520 | 1,642 | — | — | (6,162 | ) | — | ||||||||||||||||||
Intangible assets, net | — | — | 356 | 871 | — | 1,227 | |||||||||||||||||||
Other long-term assets | 5 | 46 | 40 | 505 | 2 | 598 | |||||||||||||||||||
Total long-term assets | 4,525 | 1,688 | 1,041 | 3,930 | (6,160 | ) | 5,024 | ||||||||||||||||||
Total assets | $ | 4,541 | $ | 1,698 | $ | 2,474 | $ | 8,277 | $ | (6,179 | ) | $ | 10,811 | ||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Short-term debt | $ | — | $ | 22 | $ | 23 | $ | 14 | $ | — | $ | 59 | |||||||||||||
Accounts payable | — | — | 693 | 1,811 | — | 2,504 | |||||||||||||||||||
Accrued liabilities | 10 | 28 | 163 | 1,101 | (8 | ) | 1,294 | ||||||||||||||||||
Total current liabilities | 10 | 50 | 879 | 2,926 | (8 | ) | 3,857 | ||||||||||||||||||
Long-term liabilities: | |||||||||||||||||||||||||
Long-term debt | — | 2,346 | 2 | 11 | — | 2,359 | |||||||||||||||||||
Intercompany accounts, net | 1,785 | (663 | ) | 964 | (2,086 | ) | — | — | |||||||||||||||||
Pension benefit obligations | — | — | 66 | 843 | — | 909 | |||||||||||||||||||
Other long-term liabilities | — | — | 229 | 234 | — | 463 | |||||||||||||||||||
Total long-term liabilities | 1,785 | 1,683 | 1,261 | (998 | ) | — | 3,731 | ||||||||||||||||||
Total liabilities | 1,795 | 1,733 | 2,140 | 1,928 | (8 | ) | 7,588 | ||||||||||||||||||
Total Delphi shareholders’ equity | 2,746 | (35 | ) | 334 | 5,872 | (6,171 | ) | 2,746 | |||||||||||||||||
Noncontrolling interest | — | — | — | 477 | — | 477 | |||||||||||||||||||
Total shareholders’ equity | 2,746 | (35 | ) | 334 | 6,349 | (6,171 | ) | 3,223 | |||||||||||||||||
Total liabilities and shareholders’ equity | $ | 4,541 | $ | 1,698 | $ | 2,474 | $ | 8,277 | $ | (6,179 | ) | $ | 10,811 | ||||||||||||
Balance Sheet as of December 31, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | — | $ | 118 | $ | 985 | $ | — | $ | 1,105 | |||||||||||||
Restricted cash | — | — | — | 8 | — | 8 | |||||||||||||||||||
Accounts receivable, net | — | — | 641 | 1,784 | — | 2,425 | |||||||||||||||||||
Inventories | — | — | 308 | 764 | (6 | ) | 1,066 | ||||||||||||||||||
Other current assets | — | 17 | 141 | 465 | — | 623 | |||||||||||||||||||
Total current assets | 2 | 17 | 1,208 | 4,006 | (6 | ) | 5,227 | ||||||||||||||||||
Long-term assets: | |||||||||||||||||||||||||
Property, net | — | — | 592 | 2,268 | — | 2,860 | |||||||||||||||||||
Investments in affiliates | — | — | — | 231 | — | 231 | |||||||||||||||||||
Investments in subsidiaries | 3,987 | 1,663 | — | — | (5,650 | ) | — | ||||||||||||||||||
Intangible assets, net | — | — | 390 | 886 | — | 1,276 | |||||||||||||||||||
Other long-term assets | — | 55 | 44 | 481 | 2 | 582 | |||||||||||||||||||
Total long-term assets | 3,987 | 1,718 | 1,026 | 3,866 | (5,648 | ) | 4,949 | ||||||||||||||||||
Total assets | $ | 3,989 | $ | 1,735 | $ | 2,234 | $ | 7,872 | $ | (5,654 | ) | $ | 10,176 | ||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Short-term debt | $ | — | $ | 31 | $ | 23 | $ | 86 | $ | — | $ | 140 | |||||||||||||
Accounts payable | — | — | 578 | 1,700 | — | 2,278 | |||||||||||||||||||
Accrued liabilities | — | 10 | 221 | 1,010 | — | 1,241 | |||||||||||||||||||
Total current liabilities | — | 41 | 822 | 2,796 | — | 3,659 | |||||||||||||||||||
Long-term liabilities: | |||||||||||||||||||||||||
Long-term debt | — | 2,308 | 2 | 14 | — | 2,324 | |||||||||||||||||||
Intercompany accounts, net | 1,644 | (537 | ) | 755 | (1,862 | ) | — | — | |||||||||||||||||
Pension benefit obligations | — | — | 73 | 856 | — | 929 | |||||||||||||||||||
Other long-term liabilities | — | — | 192 | 242 | — | 434 | |||||||||||||||||||
Total long-term liabilities | 1,644 | 1,771 | 1,022 | (750 | ) | — | 3,687 | ||||||||||||||||||
Total liabilities | 1,644 | 1,812 | 1,844 | 2,046 | — | 7,346 | |||||||||||||||||||
Total Delphi shareholders’ equity | 2,345 | (77 | ) | 390 | 5,341 | (5,654 | ) | 2,345 | |||||||||||||||||
Noncontrolling interest | — | — | — | 485 | — | 485 | |||||||||||||||||||
Total shareholders’ equity | 2,345 | (77 | ) | 390 | 5,826 | (5,654 | ) | 2,830 | |||||||||||||||||
Total liabilities and shareholders’ equity | $ | 3,989 | $ | 1,735 | $ | 2,234 | $ | 7,872 | $ | (5,654 | ) | $ | 10,176 | ||||||||||||
Schedule of Condensed Cash Flow Statement | ' | ||||||||||||||||||||||||
Statement of Cash Flows for the Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (188 | ) | $ | — | $ | 366 | $ | 892 | $ | — | $ | 1,070 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | — | — | (147 | ) | (365 | ) | — | (512 | ) | ||||||||||||||||
Proceeds from sale of property/investments | — | — | 1 | 23 | — | 24 | |||||||||||||||||||
Cost of business and technology acquisitions, net of cash acquired | — | — | — | (10 | ) | — | (10 | ) | |||||||||||||||||
Decrease in restricted cash | — | — | — | 3 | — | 3 | |||||||||||||||||||
Net cash used in investing activities | — | — | (146 | ) | (349 | ) | — | (495 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Net repayments under other short-term debt agreements | — | — | — | (79 | ) | — | (79 | ) | |||||||||||||||||
Repayments under long-term debt agreements | — | (1,349 | ) | — | — | — | (1,349 | ) | |||||||||||||||||
Proceeds from issuance of senior secured term loans, net of issuance costs | — | 560 | — | — | — | 560 | |||||||||||||||||||
Proceeds from issuance of senior notes, net of issuance costs | — | 788 | — | — | — | 788 | |||||||||||||||||||
Dividend payments of consolidated affiliates to minority shareholders | — | — | — | (26 | ) | — | (26 | ) | |||||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 714 | 1 | (257 | ) | (458 | ) | — | — | |||||||||||||||||
Repurchase of ordinary shares | (353 | ) | — | — | — | — | (353 | ) | |||||||||||||||||
Distribution of cash dividends | (159 | ) | — | — | — | — | (159 | ) | |||||||||||||||||
Taxes withheld and paid on employees' restricted share awards | — | — | (13 | ) | (1 | ) | — | (14 | ) | ||||||||||||||||
Net cash provided by (used in) financing activities | 202 | — | (270 | ) | (564 | ) | — | (632 | ) | ||||||||||||||||
Effect of exchange rate fluctuations on cash and cash equivalents | — | — | — | 5 | — | 5 | |||||||||||||||||||
Decrease in cash and cash equivalents | 14 | — | (50 | ) | (16 | ) | — | (52 | ) | ||||||||||||||||
Cash and cash equivalents at beginning of period | 2 | — | 118 | 985 | — | 1,105 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | 16 | $ | — | $ | 68 | $ | 969 | $ | — | $ | 1,053 | |||||||||||||
Statement of Cash Flows for the Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||
Parent | Subsidiary | Guarantor | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Companies | Issuer | Subsidiaries | Guarantor | ||||||||||||||||||||||
Subsidiaries | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (34 | ) | $ | — | $ | 461 | $ | 741 | $ | — | $ | 1,168 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||
Capital expenditures | — | — | (159 | ) | (404 | ) | — | (563 | ) | ||||||||||||||||
Proceeds from sale of property/investments | — | — | 2 | 16 | — | 18 | |||||||||||||||||||
Increase in restricted cash | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Acquisition of minority held shares | — | — | — | (16 | ) | — | (16 | ) | |||||||||||||||||
Dividends from equity method investments in excess of earnings | — | — | — | 37 | — | 37 | |||||||||||||||||||
Net cash used in investing activities | — | — | (157 | ) | (369 | ) | — | (526 | ) | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||
Net repayments under other short-term debt agreements | — | — | — | (16 | ) | — | (16 | ) | |||||||||||||||||
Proceeds from issuance of senior secured term loans, net of issuance costs | — | (5 | ) | — | — | — | (5 | ) | |||||||||||||||||
Dividend payments of consolidated affiliates to minority shareholders | — | — | — | (39 | ) | — | (39 | ) | |||||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 284 | 5 | (289 | ) | — | — | — | ||||||||||||||||||
Repurchase of ordinary shares | (300 | ) | — | — | — | — | (300 | ) | |||||||||||||||||
Net cash used in financing activities | (16 | ) | — | (289 | ) | (55 | ) | — | (360 | ) | |||||||||||||||
Effect of exchange rate fluctuations on cash and cash equivalents | — | — | — | (11 | ) | — | (11 | ) | |||||||||||||||||
(Decrease) increase in cash and cash equivalents | (50 | ) | — | 15 | 306 | — | 271 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | 53 | — | 186 | 1,124 | — | 1,363 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | 3 | $ | — | $ | 201 | $ | 1,430 | $ | — | $ | 1,634 | |||||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||||||||||
Included below are sales and operating data for Delphi’s segments for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013: | |||||||||||||||||||||||||
Net sales | $ | 1,956 | $ | 1,048 | $ | 705 | $ | 364 | $ | (56 | ) | $ | 4,017 | ||||||||||||
EBITDA | $ | 298 | $ | 134 | $ | 81 | $ | 12 | $ | — | $ | 525 | |||||||||||||
Adjusted EBITDA | $ | 309 | $ | 142 | $ | 100 | $ | 15 | $ | — | $ | 566 | |||||||||||||
Depreciation and amortization | $ | 61 | $ | 48 | $ | 19 | $ | 10 | $ | — | $ | 138 | |||||||||||||
Operating income | $ | 237 | $ | 86 | $ | 62 | $ | 2 | $ | — | $ | 387 | |||||||||||||
Equity income | $ | 4 | $ | 1 | $ | — | $ | 4 | $ | (1 | ) | $ | 8 | ||||||||||||
Net income attributable to noncontrolling interest | $ | 11 | $ | 6 | $ | — | $ | 5 | $ | — | $ | 22 | |||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2012: | |||||||||||||||||||||||||
Net sales | $ | 1,607 | $ | 1,087 | $ | 648 | $ | 374 | $ | (53 | ) | $ | 3,663 | ||||||||||||
EBITDA | $ | 210 | $ | 169 | $ | 78 | $ | 23 | $ | — | $ | 480 | |||||||||||||
Adjusted EBITDA | $ | 211 | $ | 169 | $ | 79 | $ | 24 | $ | — | $ | 483 | |||||||||||||
Depreciation and amortization | $ | 39 | $ | 44 | $ | 20 | $ | 10 | $ | — | $ | 113 | |||||||||||||
Operating income | $ | 171 | $ | 125 | $ | 58 | $ | 13 | $ | — | $ | 367 | |||||||||||||
Equity income (loss) | $ | 5 | $ | (1 | ) | $ | — | $ | 3 | $ | (1 | ) | $ | 6 | |||||||||||
Net income attributable to noncontrolling interest | $ | 10 | $ | 8 | $ | — | $ | 5 | $ | — | $ | 23 | |||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013: | |||||||||||||||||||||||||
Net sales | $ | 5,921 | $ | 3,316 | $ | 2,123 | $ | 1,097 | $ | (176 | ) | $ | 12,281 | ||||||||||||
EBITDA | $ | 883 | $ | 474 | $ | 253 | $ | 58 | $ | — | $ | 1,668 | |||||||||||||
Adjusted EBITDA | $ | 919 | $ | 494 | $ | 297 | $ | 63 | $ | — | $ | 1,773 | |||||||||||||
Depreciation and amortization | $ | 174 | $ | 140 | $ | 55 | $ | 32 | $ | — | $ | 401 | |||||||||||||
Operating income | $ | 709 | $ | 334 | $ | 198 | $ | 26 | $ | — | $ | 1,267 | |||||||||||||
Equity income | $ | 11 | $ | 4 | $ | — | $ | 12 | $ | (1 | ) | $ | 26 | ||||||||||||
Net income attributable to noncontrolling interest | $ | 31 | $ | 22 | $ | — | $ | 13 | $ | — | $ | 66 | |||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other (1) | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012: | |||||||||||||||||||||||||
Net sales | $ | 5,049 | $ | 3,597 | $ | 2,092 | $ | 1,192 | $ | (178 | ) | $ | 11,752 | ||||||||||||
EBITDA | $ | 708 | $ | 571 | $ | 269 | $ | 91 | $ | — | $ | 1,639 | |||||||||||||
Adjusted EBITDA | $ | 714 | $ | 575 | $ | 272 | $ | 95 | $ | — | $ | 1,656 | |||||||||||||
Depreciation and amortization | $ | 112 | $ | 134 | $ | 62 | $ | 32 | $ | — | $ | 340 | |||||||||||||
Operating income | $ | 596 | $ | 437 | $ | 207 | $ | 59 | $ | — | $ | 1,299 | |||||||||||||
Equity income (loss) | $ | 14 | $ | — | $ | — | $ | 7 | $ | (3 | ) | $ | 18 | ||||||||||||
Net income attributable to noncontrolling interest | $ | 28 | $ | 24 | $ | — | $ | 12 | $ | — | $ | 64 | |||||||||||||
-1 | Eliminations and Other includes the elimination of inter-segment transactions. | ||||||||||||||||||||||||
Schedule of Segment Reporting EBITDA to Net Income By Segment | ' | ||||||||||||||||||||||||
The reconciliation of Adjusted EBITDA to net income attributable to Delphi for the three and nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 309 | $ | 142 | $ | 100 | $ | 15 | $ | — | $ | 566 | |||||||||||||
Restructuring | (7 | ) | (8 | ) | (19 | ) | (3 | ) | — | (37 | ) | ||||||||||||||
Other acquisition-related costs | (4 | ) | — | — | — | — | (4 | ) | |||||||||||||||||
EBITDA | $ | 298 | $ | 134 | $ | 81 | $ | 12 | $ | — | $ | 525 | |||||||||||||
Depreciation and amortization | (61 | ) | (48 | ) | (19 | ) | (10 | ) | — | (138 | ) | ||||||||||||||
Operating income | $ | 237 | $ | 86 | $ | 62 | $ | 2 | $ | — | 387 | ||||||||||||||
Interest expense | (34 | ) | |||||||||||||||||||||||
Other income, net | 4 | ||||||||||||||||||||||||
Income before income taxes and equity income | 357 | ||||||||||||||||||||||||
Income tax expense | (72 | ) | |||||||||||||||||||||||
Equity income, net of tax | 8 | ||||||||||||||||||||||||
Net income | $ | 293 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 22 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 271 | |||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2012: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 211 | $ | 169 | $ | 79 | $ | 24 | $ | — | $ | 483 | |||||||||||||
Restructuring | (1 | ) | — | (1 | ) | (1 | ) | — | (3 | ) | |||||||||||||||
EBITDA | $ | 210 | $ | 169 | $ | 78 | $ | 23 | $ | — | $ | 480 | |||||||||||||
Depreciation and amortization | (39 | ) | (44 | ) | (20 | ) | (10 | ) | — | (113 | ) | ||||||||||||||
Operating income | $ | 171 | $ | 125 | $ | 58 | $ | 13 | $ | — | 367 | ||||||||||||||
Interest expense | (32 | ) | |||||||||||||||||||||||
Other income, net | 3 | ||||||||||||||||||||||||
Income before income taxes and equity income | 338 | ||||||||||||||||||||||||
Income tax expense | (52 | ) | |||||||||||||||||||||||
Equity income, net of tax | 6 | ||||||||||||||||||||||||
Net income | $ | 292 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 23 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 269 | |||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 919 | $ | 494 | $ | 297 | $ | 63 | $ | — | $ | 1,773 | |||||||||||||
Restructuring | (26 | ) | (20 | ) | (44 | ) | (5 | ) | — | (95 | ) | ||||||||||||||
Other acquisition-related costs | (10 | ) | — | — | — | — | (10 | ) | |||||||||||||||||
EBITDA | $ | 883 | $ | 474 | $ | 253 | $ | 58 | $ | — | $ | 1,668 | |||||||||||||
Depreciation and amortization | (174 | ) | (140 | ) | (55 | ) | (32 | ) | — | (401 | ) | ||||||||||||||
Operating income | $ | 709 | $ | 334 | $ | 198 | $ | 26 | $ | — | 1,267 | ||||||||||||||
Interest expense | (106 | ) | |||||||||||||||||||||||
Other expense, net | (25 | ) | |||||||||||||||||||||||
Income before income taxes and equity income | 1,136 | ||||||||||||||||||||||||
Income tax expense | (182 | ) | |||||||||||||||||||||||
Equity income, net of tax | 26 | ||||||||||||||||||||||||
Net income | $ | 980 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 66 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 914 | |||||||||||||||||||||||
Electrical/ | Powertrain | Electronics | Thermal | Eliminations | Total | ||||||||||||||||||||
Electronic | Systems | and Safety | Systems | and Other | |||||||||||||||||||||
Architecture | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012: | |||||||||||||||||||||||||
Adjusted EBITDA | $ | 714 | $ | 575 | $ | 272 | $ | 95 | $ | — | $ | 1,656 | |||||||||||||
Restructuring | (6 | ) | (4 | ) | (3 | ) | (4 | ) | — | (17 | ) | ||||||||||||||
EBITDA | $ | 708 | $ | 571 | $ | 269 | $ | 91 | $ | — | $ | 1,639 | |||||||||||||
Depreciation and amortization | (112 | ) | (134 | ) | (62 | ) | (32 | ) | — | (340 | ) | ||||||||||||||
Operating income | $ | 596 | $ | 437 | $ | 207 | $ | 59 | $ | — | 1,299 | ||||||||||||||
Interest expense | (100 | ) | |||||||||||||||||||||||
Other income, net | 15 | ||||||||||||||||||||||||
Income before income taxes and equity income | 1,214 | ||||||||||||||||||||||||
Income tax expense | (227 | ) | |||||||||||||||||||||||
Equity income, net of tax | 18 | ||||||||||||||||||||||||
Net income | $ | 1,005 | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | 64 | ||||||||||||||||||||||||
Net income attributable to Delphi | $ | 941 | |||||||||||||||||||||||
General_Details
General (Details) (USD $) | 3 Months Ended | 5 Months Ended | 8 Months Ended | 9 Months Ended | 11 Months Ended |
Mar. 31, 2011 | 19-May-11 | Aug. 19, 2009 | Oct. 06, 2009 | Nov. 22, 2011 | |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' | ' | ' |
Formation of PLC | ' | 19-May-11 | ' | ' | ' |
Formation of LLP | ' | ' | 19-Aug-09 | ' | ' |
Initial Offering Period | ' | ' | ' | ' | 'November 22, 2011 |
Acquisition Date | ' | ' | ' | 6-Oct-09 | ' |
Membership Interests Redeemed or Called, Value | $4,400,000,000 | ' | ' | ' | ' |
Original Credit Agreement [Member] | Secured Debt [Member] | JPMorgan Chase Bank, N.A. [Member] | ' | ' | ' | ' | ' |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $3,000,000,000 | ' | ' | ' | ' |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Document Period End Date | ' | ' | 30-Sep-13 | ' | ' |
Investment Income, Dividend | ' | ' | $30 | ' | ' |
Return on Equity Method Investment, Dividends | ' | ' | ' | 25 | ' |
Dividends from equity method investments in excess of earnings | ' | ' | 0 | 37 | ' |
Intangible Assets, Net (Excluding Goodwill) | 742 | ' | 742 | ' | 803 |
Amortization of Intangible Assets | 27 | 20 | 79 | 60 | ' |
Goodwill | 485 | ' | 485 | ' | 473 |
Promotora de Partes Electricas Automotrices [Member] | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Investment Income, Dividend | 10 | ' | ' | 62 | ' |
GM & VW [Member] | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | 28.00% | 29.00% | 27.00% | 29.00% | ' |
GM [Member] | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | 18.00% | 18.00% | 17.00% | 18.00% | ' |
Accounts and Other Receivables, Net, Current | 514 | ' | 514 | ' | 382 |
VW [Member] | ' | ' | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | 10.00% | 11.00% | 10.00% | 11.00% | ' |
Accounts and Other Receivables, Net, Current | $218 | ' | $218 | ' | $109 |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Productive material | $675 | $586 |
Work-in-process | 145 | 128 |
Finished goods | 413 | 352 |
Total | $1,233 | $1,066 |
Assets_Current_Assets_Details
Assets Current Assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ' |
Value added tax receivable | $181 | $194 |
Deferred income taxes | 153 | 148 |
Prepaid insurance and other expenses | 75 | 86 |
Reimbursable engineering costs | 63 | 52 |
Notes receivable | 44 | 22 |
Debt issuance costs (Note 8) | 10 | 17 |
Income and other taxes receivable | 74 | 47 |
Deposits to vendors | 11 | 15 |
Derivative financial instruments (Note 14) | 9 | 21 |
Other | 20 | 21 |
Total | $640 | $623 |
Assets_Non_Current_assets_Deta
Assets Non Current assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ' |
Deferred income taxes | $269 | $281 |
Debt issuance costs (Note 8) | 46 | 55 |
Income and other taxes receivable | 102 | 88 |
Reimbursable engineering costs | 87 | 50 |
Value added tax receivable | 30 | 33 |
Derivative financial instruments (Note 14) | 4 | 6 |
Other | 60 | 69 |
Total | $598 | $582 |
Liabilities_Other_Liabilities_
Liabilities Other Liabilities, Current (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Payroll-related obligations | $305 | $259 |
Employee benefits, including current pension obligations | 102 | 123 |
Executive long-term incentive plan (Note18) | 0 | 20 |
Income and other taxes payable | 210 | 261 |
Warranty obligations (Note 6) | 76 | 92 |
Restructuring (Note 7) | 119 | 118 |
Customer deposits | 29 | 35 |
Deferred income taxes | 16 | 12 |
Derivative financial instruments (Note 14) | 28 | 12 |
Accrued interest | 29 | 9 |
Dividends payable of consolidated affiliates to minority shareholders | 51 | 0 |
Other | 329 | 300 |
Total | $1,294 | $1,241 |
Liabilities_Other_Liabilities_1
Liabilities Other Liabilities, Non Current (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Environmental (Note 10) | $20 | $18 |
Extended disability benefits | 13 | 12 |
Warranty obligations (Note 6) | 93 | 74 |
Restructuring (Note 7) | 31 | 45 |
Payroll-related obligations | 11 | 11 |
Accrued income taxes | 32 | 38 |
Deferred income taxes | 210 | 185 |
Derivative financial instruments (Note 14) | 10 | 1 |
Other | 43 | 50 |
Total | $463 | $434 |
Warranty_Obligations_Details
Warranty Obligations (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | ' |
Accrual balance at beginning of period | $166 |
Provision for estimated warranties incurred during the period | 52 |
Provision for changes in estimate for pre-existing warranties | -2 |
Settlements made during the period (in cash or in kind) | -50 |
Foreign currency translation and other | 3 |
Accrual balance at end of period | $169 |
Warranty_Obligations_Warranty_
Warranty Obligations Warranty Settlement Disclosures (Details) | 1 Months Ended | 3 Months Ended | |
In Millions, unless otherwise specified | Apr. 30, 2012 | Apr. 30, 2012 | Mar. 31, 2011 |
USD ($) | EUR (€) | Cost of Sales [Member] | |
USD ($) | |||
Warranty Obligation [Line Items] | ' | ' | ' |
Warranty Expense Recognized | ' | ' | ($76) |
Payments for Product Warranty Settlements | $80 | € 60 | ' |
Restructuring_Restructuring_Co
Restructuring Restructuring Costs by Division (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Document Period End Date | ' | ' | 30-Sep-13 | ' |
Restructuring | $37 | $3 | $95 | $17 |
Electrical / Electronic Architecture [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 7 | 1 | 26 | 6 |
Powertrain Systems [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 8 | 0 | 20 | 4 |
Electronics And Safety [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 19 | 1 | 44 | 3 |
Thermal Systems [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | $3 | $1 | $5 | $4 |
Restructuring_Restructuring_Li
Restructuring Restructuring Liability (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Accrual Balance Beginning Balance | ' | ' | $163 | ' |
Restructuring Charges | 37 | 3 | 95 | 17 |
Payments made during the period | ' | ' | -106 | ' |
Foreign currency and other | ' | ' | -2 | ' |
Accrual Balance Ending Balance | 150 | ' | 150 | ' |
Employee Termination Benefits Liability | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Accrual Balance Beginning Balance | ' | ' | 157 | ' |
Restructuring Charges | ' | ' | 94 | ' |
Payments made during the period | ' | ' | -103 | ' |
Foreign currency and other | ' | ' | -2 | ' |
Accrual Balance Ending Balance | 146 | ' | 146 | ' |
Other Exit Costs Liability | ' | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' | ' |
Accrual Balance Beginning Balance | ' | ' | 6 | ' |
Restructuring Charges | ' | ' | 1 | ' |
Payments made during the period | ' | ' | -3 | ' |
Foreign currency and other | ' | ' | 0 | ' |
Accrual Balance Ending Balance | $4 | ' | $4 | ' |
Restructuring_Narrative_Detail
Restructuring Narrative (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 |
2012-2013 Restructuring Program [Member] | 2012-2013 Restructuring Program [Member] | 2012-2013 Restructuring Program [Member] | 2012-2013 Restructuring Program [Member] | Electrical / Electronic Architecture [Member] | Electrical / Electronic Architecture [Member] | Electrical / Electronic Architecture [Member] | Electrical / Electronic Architecture [Member] | Powertrain Systems [Member] | Powertrain Systems [Member] | Powertrain Systems [Member] | Powertrain Systems [Member] | Electronics And Safety [Member] | Electronics And Safety [Member] | Electronics And Safety [Member] | Electronics And Safety [Member] | Europe [Member] | |||||
2012-2013 Restructuring Program [Member] | |||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Expected Cost | ' | ' | ' | ' | ' | $300 | $375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Additional Cost Approved | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% |
Restructuring | 37 | 3 | 95 | 17 | ' | 170 | ' | ' | 7 | 1 | 26 | 6 | 8 | 0 | 20 | 4 | 19 | 1 | 44 | 3 | ' |
Document Period End Date | ' | ' | 30-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring, Cash Expenditures | ' | ' | 106 | ' | ' | ' | 90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Future Cash Expenditures, Amount | ' | ' | ' | ' | ' | ' | ' | 70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Buildings | ' | ' | ' | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment | ' | ' | ' | ' | ' | ' | $11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Debt_Outstanding_Details
Debt Debt Outstanding (Details) (USD $) | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | 17-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | 17-May-11 | Sep. 30, 2013 | Feb. 14, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Accounts Receivable Factoring [Member] | Accounts Receivable Factoring [Member] | JPMorgan Chase Bank, N.A. [Member] | |||
Senior Notes, 5.875% Due 2019 [Member] | Senior Notes, 5.875% Due 2019 [Member] | Senior Notes, 5.875% Due 2019 [Member] | Senior Notes, 6.125% Due 2021 [Member] | Senior Notes, 6.125% Due 2021 [Member] | Senior Notes, 6.125% Due 2021 [Member] | Senior Notes, 5.000% Due 2023 [Member] | Senior Notes, 5.000% Due 2023 [Member] | Senior Notes, 5.000% Due 2023 [Member] | Tranche A&B Combined [Member] | Tranche A&B Combined [Member] | Tranche A, Due 2018 [Member] | Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Loans Payable [Member] | |||||
Tranche A, Due 2018 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Outstanding Net of Discounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $4 | ' | ' | ' | ' | ' | ' |
Accounts receivable factoring | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 19 | ' |
Senior notes | ' | ' | 500 | 500 | ' | 500 | 500 | ' | 800 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 567 | 0 | 772 | ' | ' | 568 |
Capital leases and other | 50 | 106 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | 2,418 | 2,464 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: current portion | -59 | -140 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | $2,359 | $2,324 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 5.88% | 5.88% | 5.88% | 6.13% | 6.13% | 6.13% | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | 15-May-19 | 15-May-19 | ' | 15-May-21 | 15-May-21 | ' | 15-Feb-23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Credit_Agreement_Details
Debt Credit Agreement (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Millions, unless otherwise specified | Feb. 14, 2013 | 17-May-11 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2011 | Oct. 11, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 |
Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Tranche B, Due 2017 [Member] | Revolver, Due 2016 [Member] | Revolver, Due 2016 [Member] | Revolver, Due 2016 [Member] | Revolver, Due 2016 [Member] | Amended and Restated Credit Agreement [Member] | Tranche A, Due 2018 [Member] | Tranche A, Due 2018 [Member] | Tranche A, Due 2018 [Member] | Tranche A, Due 2018 [Member] | Tranche A, Due 2018 [Member] | Tranche A, Due 2018 [Member] | Tranche A, Due 2018 [Member] | Revolver, Due 2018 [Member] | Revolver, Due 2018 [Member] | Revolver, Due 2018 [Member] | Revolver, Due 2018 [Member] | Original Credit Agreement [Member] | Original Credit Agreement [Member] | Tranche A, Due 2016 [Member] | Tranche A, Due 2016 [Member] | Tranche A, Due 2016 [Member] | Tranche A, Due 2016 [Member] | Tranche A, Due 2016 [Member] | Tranche A, Due 2016 [Member] | |||||||
Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | JPMorgan Chase Bank, N.A. [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | JPMorgan Chase Bank, N.A. [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Loans Payable [Member] | Loans Payable [Member] | Secured Debt [Member] | Secured Debt [Member] | Motorized Vehicle Division [Member] | JPMorgan Chase Bank, N.A. [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | Loans Payable [Member] | ||||||||
JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | Loans Payable [Member] | Minimum [Member] | Maximum [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | ||||||||||||||
Administrative Agentbs Alternate Base Rate [Member] | LIBOR [Member] | LIBOR [Member] | Administrative Agentbs Alternate Base Rate [Member] | LIBOR [Member] | Administrative Agentbs Alternate Base Rate [Member] | LIBOR [Member] | LIBOR [Member] | Administrative Agentbs Alternate Base Rate [Member] | LIBOR [Member] | Administrative Agentbs Alternate Base Rate [Member] | LIBOR [Member] | ||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | ' | ' | ' | ' | 30-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement on Senior Secured Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | $950 | ' | ' | ' | ' | $500 | ' | ' | ' | ' | ' | ' | ' | $575 | ' | ' | $1,500 | ' | ' | ' | ' | $3,000 | ' | ' | ' | $258 | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' |
Line of Credit Facility, Increase, Additional Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 363 | 574 | ' | ' | ' | ' |
Extinguishment of Debt, Amount | ' | ' | 0 | -1 | -39 | -1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Debt Issuance Costs | 12 | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized Debt Issuance Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' |
Variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread of variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.50% | ' | ' | ' | 1.00% | 2.00% | ' | ' | ' | ' | ' | ' | 0.50% | 1.50% | ' | 1.50% | 0.50% | 1.50% | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% |
Change in interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings as of June 30, 2013 | ' | ' | ' | ' | ' | ' | $0 | $772 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $567 | $568 | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rates effective as of June 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.69% | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 275.00% | ' | ' | ' | ' | ' | ' | ' |
Debt_Senior_Notes_Details
Debt Senior Notes (Details) (USD $) | 0 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | ||||
Feb. 14, 2013 | 17-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | 17-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | 17-May-11 | Sep. 30, 2013 | Feb. 14, 2013 | |
Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | |||
Senior Notes, 5.875% Due 2019 [Member] | Senior Notes, 5.875% Due 2019 [Member] | Senior Notes, 5.875% Due 2019 [Member] | Senior Notes, 6.125% Due 2021 [Member] | Senior Notes, 6.125% Due 2021 [Member] | Senior Notes, 6.125% Due 2021 [Member] | Senior Notes, 5.000% Due 2023 [Member] | Senior Notes, 5.000% Due 2023 [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes issued | ' | ' | ' | ' | $500,000,000 | ' | ' | $500,000,000 | ' | $800,000,000 |
Senior Notes Interest Rate at Period End | ' | ' | 5.88% | 5.88% | 5.88% | 6.13% | 6.13% | 6.13% | 5.00% | 5.00% |
Debt Instrument, Maturity Date | ' | ' | 15-May-19 | 15-May-19 | ' | 15-May-21 | 15-May-21 | ' | 15-Feb-23 | ' |
Payments of Debt Issuance Costs | 12,000,000 | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Note Net Proceeds | ' | $1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Other_Financing_Details
Debt Other Financing (Details) | 9 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
USD ($) | USD ($) | EUR (€) | USD ($) | Accounts Receivable Factoring [Member] | Accounts Receivable Factoring [Member] | |
USD ($) | USD ($) | |||||
Schedule of Debt [Line Items] | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' | ' | ' | ' |
Maximum Funding From Factoring Program | ' | ' | € 350 | ' | ' | ' |
Other Short-term Borrowings | ' | ' | ' | ' | 0 | 19 |
Other Debt and Capital Lease Obligations | 50 | ' | ' | 106 | ' | ' |
Interest Paid | $78 | $74 | ' | ' | ' | ' |
Pension_Benefits_Narrative_Det
Pension Benefits Narrative (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Defined Benefit Pension Plan, Postemployment Benefit Period | '5 years | ' |
Other Postretirement Benefits Payable | $10 | $15 |
Pension_Benefits_Net_Periodic_
Pension Benefits Net Periodic Benefit Cost (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Non-U.S. Plans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $13 | $11 | $41 | $34 |
Interest cost | 22 | 22 | 65 | 63 |
Expected return on plan assets | -17 | -17 | -52 | -50 |
Amortization of actuarial losses | 1 | 0 | 5 | 0 |
Net periodic benefit cost | 19 | 16 | 59 | 47 |
U.S. Plans | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 0 | 0 | 1 | 2 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of actuarial losses | 0 | 0 | 0 | 0 |
Net periodic benefit cost | $0 | $0 | $1 | $2 |
Commitments_And_Contingencies_
Commitments And Contingencies Environmental Matters (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Environmental Exit Cost [Line Items] | ' | ' |
Accrual for Environmental Loss Contingencies | $23 | $21 |
Accrued Environmental Loss Contingencies, Noncurrent | 20 | 18 |
Accrued Liabilities [Member] | ' | ' |
Environmental Exit Cost [Line Items] | ' | ' |
Accrued Environmental Loss Contingencies, Current | 3 | 3 |
Other Long-Term Liabilities [Member] | ' | ' |
Environmental Exit Cost [Line Items] | ' | ' |
Accrued Environmental Loss Contingencies, Noncurrent | $20 | $18 |
Commitments_And_Contingencies_1
Commitments And Contingencies Brazil Matters (Details) (Brazil [Member], USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Brazil [Member] | ' |
Loss Contingencies [Line Items] | ' |
Brazil Loss Contingency Estimate Of Possible Loss | $200 |
Loss Contingency Accrual, at Carrying Value | $33 |
Income_Taxes_Income_Tax_Rate_R
Income Taxes Income Tax Rate Reconciliation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2016 | Mar. 31, 2015 |
UNITED KINGDOM | UNITED KINGDOM | UNITED KINGDOM | UNITED KINGDOM | |||||
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Notional U.S. federal income taxes at statutory rate | ' | ' | $398 | $425 | ' | ' | ' | ' |
Income taxed at other rates | ' | ' | -219 | -192 | ' | ' | ' | ' |
Change in valuation allowance | ' | ' | 0 | -1 | ' | ' | ' | ' |
Other change in tax reserves | ' | ' | -5 | -12 | ' | ' | ' | ' |
Witholding taxes | ' | ' | 38 | 11 | ' | ' | ' | ' |
Tax credits | ' | ' | -48 | -12 | ' | ' | ' | ' |
Change in tax law | ' | ' | ' | ' | 12 | 6 | ' | ' |
Other adjustments | ' | ' | 6 | 2 | ' | ' | ' | ' |
Total income tax expense | 72 | 52 | 182 | 227 | ' | ' | ' | ' |
Effective tax rate | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' |
Corporate Income Tax Rate | ' | ' | ' | ' | 23.00% | ' | 20.00% | 21.00% |
Income Tax Reconciliation, Other Reconciling Items [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | ' | ' | 35.00% | ' | ' | ' | ' | ' |
Research and Development Tax Credit | ' | ' | -22 | ' | ' | ' | ' | ' |
Tax Settlements | ' | ' | ' | -22 | ' | ' | ' | ' |
Increase (Decrease) Resulting from Foreign Transfer Pricing Positions | ' | ' | ' | 10 | ' | ' | ' | ' |
Increase (Decrease) Resulting from Change in Withholding Tax | ' | ' | ' | -14 | ' | ' | ' | ' |
Cash Taxes Paid | ' | ' | $215 | $228 | ' | ' | ' | ' |
Income_Taxes_Tax_Return_Filing
Income Taxes Tax Return Filing Determinations and Elections (Details) | 8 Months Ended | 9 Months Ended | |
Aug. 19, 2009 | Sep. 30, 2013 | Oct. 06, 2009 | |
Income Tax Contingency [Line Items] | ' | ' | ' |
Acquisition Date | ' | ' | 6-Oct-09 |
Formation of LLP | 19-Aug-09 | ' | ' |
Income Tax Contingency, Federal Statutory Rate for Foreign Shareholders | ' | 30.00% | ' |
Shareholders_Equity_And_Net_In2
Shareholders' Equity And Net Income Per Share Overview (Details) (USD $) | 5 Months Ended | 11 Months Ended | ||
In Millions, except Share data, unless otherwise specified | 19-May-11 | Nov. 22, 2011 | Sep. 30, 2013 | Dec. 31, 2012 |
Shareholders' Equity and Net Income Per Share Note [Abstract] | ' | ' | ' | ' |
Formation of PLC | 19-May-11 | ' | ' | ' |
Initial Offering Period | ' | 'November 22, 2011 | ' | ' |
Ordinary Shares After Exchange | ' | 328,244,510 | ' | ' |
Ordinary Shares, Par or Stated Value Per Share | ' | $0.01 | $0.01 | $0.01 |
Ordinary Shares Issued Value of New Issues | ' | 24,078,827 | ' | ' |
IPO Purchase Price | ' | $530 | ' | ' |
IPO Transaction Costs | ' | $44 | ' | ' |
Shareholders_Equity_And_Net_In3
Shareholders' Equity And Net Income Per Share Weighted Average Shares Outstanding and Net Income Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Shareholders' Equity and Net Income Per Share Note [Abstract] | ' | ' | ' | ' |
Net income attributable to Delphi | $271 | $269 | $914 | $941 |
Weighted average number of basic shares outstanding | 309,680,000 | 320,930,000 | 312,080,000 | 325,000,000 |
Diluted shares related to RSU's | 940,000 | 350,000 | 790,000 | 280,000 |
Weighted average ordinary shares outstanding, including dilutive shares | 310,620,000 | 321,280,000 | 312,870,000 | 325,280,000 |
Basic | $0.88 | $0.84 | $2.93 | $2.89 |
Diluted | $0.87 | $0.84 | $2.92 | $2.89 |
Antidilutive securities share impact | 0 | 3.5 | 0 | 3.16 |
Shareholders_Equity_And_Net_In4
Shareholders' Equity And Net Income Per Share Share Repurchase Program (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Oct. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
Share Repurchase Program January 2012 [Member] | Share Repurchase Program September 2012 [Member] | ||||||
Share Repurchase Program [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Authorized Amount | ' | ' | ' | ' | ' | $300 | $750 |
Stock Repurchased During Period, Shares | 397,589 | 2,120,000 | 5,443,213 | 7,415,583 | 10,740,453 | ' | ' |
Stock Repurchased, Average Price | $57.85 | $56.50 | $29.78 | $48.80 | $29.08 | ' | ' |
Stock Repurchased During Period, Value | ' | 120 | 162 | 362 | 312 | ' | ' |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $262 | ' | ' | $285 | ' | ' | ' |
Shareholders_Equity_And_Net_In5
Shareholders' Equity And Net Income Per Share Dividends (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Shareholders' Equity and Net Income Per Share Note [Abstract] | ' | ' | ' | ' | ' | ' |
Cash dividends per share | $0.17 | $0.17 | $0.17 | $0 | $0.51 | $0 |
Payments of Cash Dividends | $53 | $53 | $53 | ' | $159 | ' |
Shareholders_Equity_And_Net_In6
Shareholders' Equity And Net Income Per Share Other (Details) (USD $) | 11 Months Ended | 9 Months Ended | |
Nov. 22, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | |
Unsecured Creditors Litigation [Member] | Unsecured Creditors Litigation [Member] | ||
Pending Litigation [Member] | Litigation, Damages Benchmark, Fourth LLP Agreement [Member] | ||
Pending Litigation [Member] | |||
Shareholders' Equity and Net Income Per Share [Line Items] | ' | ' | ' |
Initial Offering Period | 'November 22, 2011 | ' | ' |
Cumulative Distributions | ' | ' | $7,200,000,000 |
Loss Contingency, Damages Sought, Value Per Unit in Excess of Benchmark | ' | 32.5 | ' |
Loss Contingency, Damages Sought, Unit in Excess of Benchmark | ' | 67.5 | ' |
Loss Contingency, Range of Possible Loss, Maximum | ' | $300,000,000 | ' |
Changes_in_Accumulated_Other_C2
Changes in Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive income, beginning of period | ' | ' | ($237) | ' |
Aggregate adjustment for the period | 118 | 107 | -22 | 69 |
Accumulated other comprehensive income, end of period | -262 | -114 | -262 | -114 |
Foreign currency translation adjustments [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive income, beginning of period | -179 | -193 | -62 | -120 |
Aggregate adjustment for the period | 110 | 82 | -7 | 9 |
Accumulated other comprehensive income, end of period | -69 | -111 | -69 | -111 |
Unrealized gains (losses) on derivatives [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 10 | 15 | 9 | 35 |
Tax effect of reclassification to income | 5 | 0 | 1 | 1 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive income, beginning of period | -25 | -9 | 14 | -45 |
Other comprehensive income before reclassifications (net of tax effect) | 4 | 24 | -29 | 59 |
Reclassification to income (net of tax effect) | 6 | 2 | 0 | 3 |
Accumulated other comprehensive income, end of period | -15 | 17 | -15 | 17 |
Pension and postretirement plans [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Tax effect of current period changes in fair value | 2 | 0 | 2 | 0 |
Tax effect of reclassification to income | 0 | 0 | 1 | 0 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' | ' |
Accumulated other comprehensive income, beginning of period | -173 | -19 | -189 | -18 |
Other comprehensive income before reclassifications (net of tax effect) | -7 | 0 | 6 | -1 |
Reclassification to income (net of tax effect) | 2 | -1 | 5 | -1 |
Accumulated other comprehensive income, end of period | ($178) | ($20) | ($178) | ($20) |
Changes_in_Accumulated_Other_C3
Changes in Accumulated Other Comprehensive Income AOCI Reclassifications (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||
Cost of Sales | ($3,338) | ($3,058) | ($10,141) | ($9,703) | ||
Other Income | 0 | -1 | 3 | 2 | ||
Income tax benefit (expense) | -72 | -52 | -182 | -227 | ||
Net income attributable to noncontrolling interest | -22 | -23 | -66 | -64 | ||
Net loss attributable to Delphi | 271 | 269 | 914 | 941 | ||
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||
Net loss attributable to Delphi | -8 | ' | -5 | ' | ||
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Unrealized gains (losses) on derivatives [Member] | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||
Total loss before income taxes | -11 | ' | -1 | ' | ||
Income tax benefit (expense) | 5 | ' | 1 | ' | ||
Net loss | -6 | ' | 0 | ' | ||
Net income attributable to noncontrolling interest | 0 | ' | 0 | ' | ||
Net loss attributable to Delphi | -6 | ' | 0 | ' | ||
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Unrealized gains (losses) on derivatives [Member] | Commodity derivatives [Member] | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||
Cost of Sales | -8 | ' | -17 | ' | ||
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Unrealized gains (losses) on derivatives [Member] | Foreign currency derivatives [Member] | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||
Cost of Sales | 5 | ' | 19 | ' | ||
Other Income | -8 | ' | -3 | ' | ||
Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Pension and postretirement plans [Member] | ' | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||
Actuarial gains/(losses) | -2 | [1] | ' | -6 | [1] | ' |
Total loss before income taxes | -2 | ' | -6 | ' | ||
Income tax benefit (expense) | 0 | ' | 1 | ' | ||
Net loss | -2 | ' | -5 | ' | ||
Net income attributable to noncontrolling interest | 0 | ' | 0 | ' | ||
Net loss attributable to Delphi | ($2) | ' | ($5) | ' | ||
[1] | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 9. Pension Benefits for additional details). |
Derivatives_And_Hedging_Activi2
Derivatives And Hedging Activities Narrative (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2014 |
Scenario, Forecast [Member] | Scenario, Forecast [Member] | Scenario, Forecast [Member] | ||
Cost of Sales [Member] | Cost of Sales [Member] | Other Income [Member] | ||
Derivative [Line Items] | ' | ' | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' | ' |
Additional Foreign Currency and Commodity Forward Contracts | $10 | ' | ' | ' |
Net derivative gains (losses) included in accumulated other comprehensive income, before tax | 16 | ' | ' | ' |
Balance at end of period | 15 | ' | ' | ' |
Gain expected to be reclassified into earnings | ' | $4 | $11 | $1 |
Derivatives_And_Hedging_Activi3
Derivatives And Hedging Activities Notional Amounts of Derivative Instruments (Details) (Forward Contracts [Member]) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Copper [Member] | Aluminum, Primary [Member] | Aluminum, Secondary [Member] | Mexican Peso | Mexican Peso | Euro | Euro | Polish Zloty | Polish Zloty | New Turkish Lira | New Turkish Lira | Brazilian Real | Brazilian Real | Chinese Yuan Renminbi | Chinese Yuan Renminbi | Romanian Leu | Romanian Leu | Hungarian Forint | Hungarian Forint |
lb | lb | lb | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | |
USD ($) | MXN | USD ($) | EUR (€) | USD ($) | PLN | USD ($) | TRY | USD ($) | BRL | USD ($) | CNY | USD ($) | RON | USD ($) | HUF | ||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivative, nonmonetary | 87,633,000 | 34,425,000 | 19,021,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of derivative | ' | ' | ' | $830 | 10,856 | $245 | € 181 | $105 | 322 | $105 | 214 | $85 | 193 | $65 | 406 | $40 | 138 | $50 | 10,877 |
Derivatives_And_Hedging_Activi4
Derivatives And Hedging Activities Fair Value of Derivative Instruments (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||||
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Commodity derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | ||||||||||||
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | Foreign currency derivatives [Member] | ||||||||||||||
Other Current Assets [Member] | Other Current Assets [Member] | Accrued Liabilities [Member] | Accrued Liabilities [Member] | Other Long-Term Assets [Member] | Other Long-Term Assets [Member] | Other Long-Term Liabilities [Member] | Other Long-Term Liabilities [Member] | Other Current Assets [Member] | Other Current Assets [Member] | Accrued Liabilities [Member] | Accrued Liabilities [Member] | Other Long-Term Assets [Member] | Other Long-Term Assets [Member] | Other Long-Term Liabilities [Member] | Other Current Assets [Member] | Accrued Liabilities [Member] | Other Long-Term Assets [Member] | ||||||||||||||||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000,000 | $16,000,000 | $5,000,000 | |||||||||
Document Period End Date | 30-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Derivative asset, fair value, gross asset | ' | ' | 20,000,000 | 34,000,000 | 1,000,000 | 2,000,000 | ' | ' | 1,000,000 | 1,000,000 | ' | ' | 8,000,000 | 24,000,000 | 5,000,000 | 0 | 4,000,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Derivative liability, fair value, gross liability | ' | ' | 45,000,000 | 20,000,000 | ' | ' | 16,000,000 | 7,000,000 | ' | ' | 4,000,000 | 1,000,000 | 2,000,000 | 5,000,000 | 15,000,000 | 5,000,000 | 1,000,000 | 2,000,000 | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Derivative, Fair Value, Net | -25,000,000 | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | [1] | 19,000,000 | [1] | -10,000,000 | [1] | -5,000,000 | [1] | 3,000,000 | [1] | 5,000,000 | [1] | -6,000,000 | [1] | ' | 2,000,000 | [1] | ' | -2,000,000 | [1] | ' | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 3,000,000 | 0 | ' | ' | ' | ' | |||||||||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 1,000,000 | 2,000,000 | ' | ' | ' | ' | |||||||||
Derivative Asset, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | |||||||||
[1] | Derivative instruments within this category are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts. |
Derivatives_And_Hedging_Activi5
Derivatives And Hedging Activities Effect of Derivative Instruments in Consolidated Statement of Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion | $14 | $39 | ' | $94 |
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | -11 | -2 | -1 | -4 |
Derivative Instruments, Gain Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing | 0 | 0 | 0 | 1 |
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion | ' | ' | -38 | ' |
Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative, Gain on Derivative | 1 | ' | 1 | ' |
Derivative, Loss on Derivative | ' | 1 | ' | -5 |
Commodity derivatives [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion | 24 | 15 | ' | 19 |
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | -8 | -7 | -17 | -9 |
Derivative Instruments, Gain Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing | 0 | 0 | 0 | 0 |
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion | ' | ' | -31 | ' |
Commodity derivatives [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative, Gain on Derivative | 0 | ' | ' | ' |
Derivative, Loss on Derivative | ' | 0 | 0 | 0 |
Foreign currency derivatives [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion | ' | 24 | ' | 75 |
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | -3 | ' | ' | ' |
Derivative Instruments, Gain Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing | 0 | 0 | 0 | 1 |
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion | -10 | ' | -7 | ' |
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | ' | 5 | 16 | 5 |
Foreign currency derivatives [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative, Gain on Derivative | 1 | ' | 1 | ' |
Derivative, Loss on Derivative | ' | $1 | ' | ($5) |
Fair_Value_Of_Financial_Instru2
Fair Value Of Financial Instruments Narrative (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | Estimated Fair Value [Member] | Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total debt, recorded amount | $2,418 | $2,464 | ' | ' | ' | ' | ' |
Total of debt, fair value | ' | ' | 2,517 | 2,557 | 2,517 | 2,557 | ' |
Derivative, Fair Value, Net | -25 | 14 | ' | ' | ' | ' | ' |
Asset Impairment Charges | ' | ' | ' | ' | ' | ' | $0 |
Fair_Value_Of_Financial_Instru3
Fair Value Of Financial Instruments Fair Value of Assets and Liabilities (Details) (Recurring Basis [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Estimated Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | $13,000,000 | $27,000,000 |
Derivative liability, fair value, net | 38,000,000 | 13,000,000 |
Quoted Prices in Active Markets, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 0 | 0 |
Derivative liability, fair value, net | 0 | 0 |
Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 13,000,000 | 27,000,000 |
Derivative liability, fair value, net | 38,000,000 | 13,000,000 |
Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 0 | 0 |
Derivative liability, fair value, net | 0 | 0 |
Commodity derivatives [Member] | Estimated Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 2,000,000 | 3,000,000 |
Derivative liability, fair value, net | 20,000,000 | 8,000,000 |
Commodity derivatives [Member] | Quoted Prices in Active Markets, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 0 | 0 |
Derivative liability, fair value, net | 0 | 0 |
Commodity derivatives [Member] | Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 2,000,000 | 3,000,000 |
Derivative liability, fair value, net | 20,000,000 | 8,000,000 |
Commodity derivatives [Member] | Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 0 | 0 |
Derivative liability, fair value, net | 0 | 0 |
Foreign currency derivatives [Member] | Estimated Fair Value [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 11,000,000 | 24,000,000 |
Derivative liability, fair value, net | 18,000,000 | 5,000,000 |
Foreign currency derivatives [Member] | Quoted Prices in Active Markets, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 0 | 0 |
Derivative liability, fair value, net | 0 | 0 |
Foreign currency derivatives [Member] | Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 11,000,000 | 24,000,000 |
Derivative liability, fair value, net | 18,000,000 | 5,000,000 |
Foreign currency derivatives [Member] | Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative asset, fair value, net | 0 | 0 |
Derivative liability, fair value, net | $0 | $0 |
Other_Income_Net_Other_Income_
Other Income, Net Other Income Table (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Interest income | $4 | $5 | $11 | $14 |
(Loss) gain on extinguishment of debt | 0 | -1 | -39 | -1 |
Other Income | 0 | -1 | 3 | 2 |
Other income (expense), net | 4 | 3 | -25 | 15 |
Amended and Restated Credit Agreement [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
(Loss) gain on extinguishment of debt | ' | ' | $39 | ' |
Other_Income_Net_Other_Income_1
Other Income, Net Other Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2011 | Mar. 31, 2011 |
Amended and Restated Credit Agreement [Member] | Loans Payable [Member] | Loans Payable [Member] | |||||
JPMorgan Chase Bank, N.A. [Member] | JPMorgan Chase Bank, N.A. [Member] | ||||||
Tranche B, Due 2017 [Member] | Tranche A, Due 2016 [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | $950 | $258 |
Extinguishment of Debt, Amount | $0 | ($1) | ($39) | ($1) | $39 | ' | ' |
Acquisitions_And_Divestitures_1
Acquisitions And Divestitures Acquisition of Motorized Vehicles Division of FCI (Details) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 01, 2012 | Nov. 01, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 27, 2012 | Oct. 11, 2012 | Dec. 31, 2011 |
USD ($) | USD ($) | USD ($) | USD ($) | Motorized Vehicle Division [Member] | Motorized Vehicle Division [Member] | Motorized Vehicle Division [Member] | Motorized Vehicle Division [Member] | Motorized Vehicle Division [Member] | Tranche A, Due 2016 [Member] | Delphi Automotive LLP [Member] | |
USD ($) | EUR (€) | EUR (€) | Motorized Vehicle Division [Member] | Motorized Vehicle Division [Member] | |||||||
USD ($) | |||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Purchase Price, Gross | ' | ' | ' | ' | $1,000 | € 765 | ' | ' | ' | ' | ' |
Net sales | 4,017 | 3,663 | 12,281 | 11,752 | ' | ' | ' | 692 | ' | ' | ' |
Sales to Delphi, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% |
Line of Credit Facility, Increase, Additional Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | $363 | ' |
Intangible Assets, Weighted Average Useful Life | ' | ' | ' | ' | ' | ' | '12 years | ' | ' | ' | ' |
Acquisitions_And_Divestitures_2
Acquisitions And Divestitures Acquisition of Motorized Vehicle Division of FCI Purchase Price Allocation (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 27, 2012 |
Motorized Vehicle Division [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' |
Purchase Price Net of Cash Acquired | ' | ' | $978,000,000 |
Property, plant and equipment | ' | ' | 249,000,000 |
Intangible assets | ' | ' | 278,000,000 |
Other assets purchased and liabilities assumed, net | ' | ' | -7,000,000 |
Identifiable net assets acquired | ' | ' | 520,000,000 |
Goodwill | 485,000,000 | 473,000,000 | 458,000,000 |
Total purchase price allocation | ' | ' | $978,000,000 |
Acquisitions_And_Divestitures_3
Acquisitions And Divestitures Sale of Italian Thermal Special Application Business (Details) (USD $) | 3 Months Ended | 9 Months Ended | 4 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 30, 2012 | Dec. 31, 2012 |
ITALY | ITALY | |||||
Thermal Special Application [Member] | Thermal Special Application [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Net sales | $4,017 | $3,663 | $12,281 | $11,752 | $23 | ' |
Proceeds from Sale of Italian Thermal Business | ' | ' | ' | ' | 14 | ' |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | ' | ' | ' | ' | ' | $4 |
Acquisitions_And_Divestitures_4
Acquisitions And Divestitures Purchase of Noncontrolling Interest in JV (Details) (Corporate Joint Venture [Member], USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Feb. 29, 2012 |
Corporate Joint Venture [Member] | ' |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' |
Purchase price of noncontrolling interest | $16 |
Acquisitions_And_Divestitures_5
Acquisitions And Divestitures Other (Details) (2012-2013 Restructuring Program [Member], USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
2012-2013 Restructuring Program [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Proceeds from Sale of Buildings | $20 |
Gain (Loss) on Disposition of Property Plant Equipment | $11 |
ShareBased_Compensation_Long_T
Share-Based Compensation Long Term Incentive Plan (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 11 Months Ended | |||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 22, 2011 | Feb. 15, 2012 | Feb. 15, 2012 | Apr. 25, 2013 | Apr. 24, 2013 | Jun. 14, 2012 | Jun. 13, 2012 | Feb. 28, 2013 | Feb. 15, 2012 | Nov. 22, 2011 | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Nov. 22, 2011 |
PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | PLC Long Term Incentive Plan [Member] | |||
Minimum [Member] | Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Shares Granted for PLC LTIP | ' | ' | ' | ' | ' | ' | 22,977,116 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LTIP Shares Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,674 | ' | 64,459 | ' | 1,450,000 | 1,880,000 | 51,003 | ' | ' | 1,505,000 | ' |
Fair Value of LTIP Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | $2 | ' | ' | ' | ' | $60 | $59 | ' | $1 |
RSU's Issued in Period, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64,713 | ' | 51,003 | 218,070 | ' | ' | ' | ' | ' | ' |
Fair Value RSUs Vested Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 1 | 9 | ' | ' | ' | ' | ' | ' |
RSU's, Used to Pay Witholding Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,691 | ' | -1,020 | -78,692 | ' | ' | ' | ' | ' | ' |
Time-Based Awards % Granted For Officers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' |
Time-Based Awards % Granted For Executives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' |
Performance-Based Awards % Granted For Officers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' |
Performance-Based Awards % Granted For Executives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' |
Performance-Based Awards Payout % Range | ' | ' | ' | ' | ' | ' | ' | 0.00% | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSU Share-based Compensation Expense | ' | ' | 10 | 8 | 34 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSU Share-based Compensation Expense, Net of Tax | ' | ' | 8 | 6 | 26 | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSU Awards, Total Compensation Cost Not yet Recognized | ' | ' | 73 | ' | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments Related to Tax Withholding for Share-based Compensation | $14 | $0 | ' | ' | $3 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_Compensation_Weight
Share-Based Compensation Weighting for Components of Performance Based RSU Awards (Details) (PLC Long Term Incentive Plan [Member]) | 1 Months Ended | 0 Months Ended | ||
Feb. 28, 2013 | Feb. 15, 2012 | |||
PLC Long Term Incentive Plan [Member] | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ||
Average Return on Net Assets (1) | 50.00% | [1] | 50.00% | [1] |
Cumulative Net Income | ' | 30.00% | ||
Cumulative Earnings Per Share (2) | 30.00% | [2] | ' | |
Relative Total Shareholder Return (3) | 20.00% | [3] | 20.00% | [3] |
[1] | Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment expense for each calendar year | |||
[2] | Cumulative earnings per share is measured by net income attributable to Delphi divided by the weighted average number of diluted shares outstanding for calendar years 2013-2015. | |||
[3] | Relative total shareholder return is measured by comparing the average closing price per share of the Companybs ordinary shares for all available trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Companybs ordinary shares for all available trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies. |
ShareBased_Compensation_Summar
Share-Based Compensation Summary of Activity for LTIP RSU's (Details) (PLC Long Term Incentive Plan [Member], USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | 9 Months Ended | |||
Apr. 25, 2013 | Jun. 14, 2012 | Feb. 28, 2013 | Feb. 15, 2012 | Nov. 22, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
LTIP Nonvested, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | 36.41 | 31.09 |
LTIP Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | 41.51 | ' |
LTIP Vested in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | 29.26 | ' |
LTIP Shares, Forfeitures, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | 34.16 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
LTIP Shares, Nonvested, Number | ' | ' | ' | ' | ' | 2,931,000 | 1,899,000 |
LTIP Shares Granted | 37,674 | 64,459 | 1,450,000 | 1,880,000 | 51,003 | 1,505,000 | ' |
LTIP RSU's, Vested in Period | ' | ' | ' | ' | ' | -285,000 | ' |
LTIP Shares, Forfeited in Period | ' | ' | ' | ' | ' | -188,000 | ' |
ShareBased_Compensation_Value_
Share-Based Compensation Value Creation Plan (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
VCP Liability, Taxes | $11 | ' | ' | ' | $11 |
Payments Related to Tax Withholding for Share-based Compensation | ' | ' | 14 | 0 | ' |
Value Creation Plan [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
VCP Cash Paid | ' | ' | 31 | 0 | 200 |
VCP Liability, Current | 31 | ' | ' | ' | 31 |
VCP Shares Issued Gross | 717,230 | ' | ' | ' | ' |
VCP Shares Issued Withheld for Taxes | -290,798 | ' | ' | ' | ' |
Payments Related to Tax Withholding for Share-based Compensation | ' | ' | 11 | 0 | ' |
VCP Compensation Expense | ' | 27 | ' | 107 | ' |
VCP Compensation Expense Net of Tax | ' | $20 | ' | $80 | ' |
Supplemental_Guarantor_And_Non2
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net sales | $4,017 | $3,663 | $12,281 | $11,752 |
Cost of sales | 3,338 | 3,058 | 10,141 | 9,703 |
Selling, general and administrative | 228 | 215 | 699 | 673 |
Amortization | 27 | 20 | 79 | 60 |
Restructuring | 37 | 3 | 95 | 17 |
Total operating expenses | 3,630 | 3,296 | 11,014 | 10,453 |
Operating income | 387 | 367 | 1,267 | 1,299 |
Interest expense | -34 | -32 | -106 | -100 |
Other income (expense), net | 4 | 3 | -25 | 15 |
Income before income taxes and equity income | 357 | 338 | 1,136 | 1,214 |
Income tax expense | -72 | -52 | -182 | -227 |
Income before equity income | 285 | 286 | 954 | 987 |
Equity income, net of tax | 8 | 6 | 26 | 18 |
Net income | 293 | 292 | 980 | 1,005 |
Net income attributable to noncontrolling interest | 22 | 23 | 66 | 64 |
Net loss attributable to Delphi | 271 | 269 | 914 | 941 |
Parent [Member] | ' | ' | ' | ' |
Net sales | 0 | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 | 0 |
Selling, general and administrative | 41 | 33 | 120 | 96 |
Amortization | 0 | 0 | 0 | 0 |
Restructuring | 0 | 0 | 0 | 0 |
Total operating expenses | 41 | 33 | 120 | 96 |
Operating income | -41 | -33 | -120 | -96 |
Interest expense | -15 | -18 | -41 | -53 |
Other income (expense), net | 15 | 16 | 45 | 38 |
Income before income taxes and equity income | -41 | -35 | -116 | -111 |
Income tax expense | 0 | 0 | 0 | 0 |
Income before equity income | -41 | -35 | -116 | -111 |
Equity income, net of tax | 0 | 0 | 0 | 0 |
Equity in net income (loss) of subsidiaries | 312 | 304 | 1,030 | 1,052 |
Net income | 271 | 269 | 914 | 941 |
Net income attributable to noncontrolling interest | 0 | 0 | 0 | 0 |
Net loss attributable to Delphi | 271 | 269 | 914 | 941 |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Net sales | 0 | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 | 0 |
Selling, general and administrative | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Restructuring | 0 | 0 | 0 | 0 |
Total operating expenses | 0 | 0 | 0 | 0 |
Operating income | 0 | 0 | 0 | 0 |
Interest expense | -47 | -47 | -141 | -129 |
Other income (expense), net | 15 | 28 | 9 | 73 |
Income before income taxes and equity income | -32 | -19 | -132 | -56 |
Income tax expense | 12 | 7 | 49 | 21 |
Income before equity income | -20 | -12 | -83 | -35 |
Equity income, net of tax | 0 | 0 | 0 | 0 |
Equity in net income (loss) of subsidiaries | 74 | 61 | 252 | 235 |
Net income | 54 | 49 | 169 | 200 |
Net income attributable to noncontrolling interest | 0 | 0 | 0 | 0 |
Net loss attributable to Delphi | 54 | 49 | 169 | 200 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Net sales | 1,368 | 1,339 | 4,084 | 4,234 |
Cost of sales | 1,203 | 1,158 | 3,556 | 3,614 |
Selling, general and administrative | 43 | 66 | 145 | 214 |
Amortization | 14 | 14 | 41 | 41 |
Restructuring | 3 | 1 | 10 | 5 |
Total operating expenses | 1,263 | 1,239 | 3,752 | 3,874 |
Operating income | 105 | 100 | 332 | 360 |
Interest expense | -16 | -15 | -47 | -38 |
Other income (expense), net | 1 | -2 | 2 | -2 |
Income before income taxes and equity income | 90 | 83 | 287 | 320 |
Income tax expense | -27 | -22 | -69 | -85 |
Income before equity income | 63 | 61 | 218 | 235 |
Equity income, net of tax | 0 | 0 | 0 | 0 |
Equity in net income (loss) of subsidiaries | 0 | 0 | 0 | 0 |
Net income | 63 | 61 | 218 | 235 |
Net income attributable to noncontrolling interest | 0 | 0 | 0 | 0 |
Net loss attributable to Delphi | 63 | 61 | 218 | 235 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Net sales | 2,993 | 2,696 | 9,210 | 8,667 |
Cost of sales | 2,483 | 2,277 | 7,611 | 7,253 |
Selling, general and administrative | 143 | 117 | 432 | 364 |
Amortization | 13 | 6 | 38 | 19 |
Restructuring | 34 | 2 | 85 | 12 |
Total operating expenses | 2,673 | 2,402 | 8,166 | 7,648 |
Operating income | 320 | 294 | 1,044 | 1,019 |
Interest expense | -3 | -3 | -9 | -10 |
Other income (expense), net | 17 | 12 | 49 | 36 |
Income before income taxes and equity income | 334 | 303 | 1,084 | 1,045 |
Income tax expense | -56 | -35 | -158 | -158 |
Income before equity income | 278 | 268 | 926 | 887 |
Equity income, net of tax | 8 | 6 | 26 | 18 |
Equity in net income (loss) of subsidiaries | 0 | 0 | 0 | 0 |
Net income | 286 | 274 | 952 | 905 |
Net income attributable to noncontrolling interest | 22 | 23 | 66 | 64 |
Net loss attributable to Delphi | 264 | 251 | 886 | 841 |
Intersegment Elimination [Member] | ' | ' | ' | ' |
Net sales | -344 | -372 | -1,013 | -1,149 |
Cost of sales | -348 | -377 | -1,026 | -1,164 |
Selling, general and administrative | 1 | -1 | 2 | -1 |
Amortization | 0 | 0 | 0 | 0 |
Restructuring | 0 | 0 | 0 | 0 |
Total operating expenses | -347 | -378 | -1,024 | -1,165 |
Operating income | 3 | 6 | 11 | 16 |
Interest expense | 47 | 51 | 132 | 130 |
Other income (expense), net | -44 | -51 | -130 | -130 |
Income before income taxes and equity income | 6 | 6 | 13 | 16 |
Income tax expense | -1 | -2 | -4 | -5 |
Income before equity income | 5 | 4 | 9 | 11 |
Equity income, net of tax | 0 | 0 | 0 | 0 |
Equity in net income (loss) of subsidiaries | -386 | -365 | -1,282 | -1,287 |
Net income | -381 | -361 | -1,273 | -1,276 |
Net income attributable to noncontrolling interest | 0 | 0 | 0 | 0 |
Net loss attributable to Delphi | -381 | -361 | -1,273 | -1,276 |
Consolidated Entities [Member] | ' | ' | ' | ' |
Net sales | 4,017 | 3,663 | 12,281 | 11,752 |
Cost of sales | 3,338 | 3,058 | 10,141 | 9,703 |
Selling, general and administrative | 228 | 215 | 699 | 673 |
Amortization | 27 | 20 | 79 | 60 |
Restructuring | 37 | 3 | 95 | 17 |
Total operating expenses | 3,630 | 3,296 | 11,014 | 10,453 |
Operating income | 387 | 367 | 1,267 | 1,299 |
Interest expense | -34 | -32 | -106 | -100 |
Other income (expense), net | 4 | 3 | -25 | 15 |
Income before income taxes and equity income | 357 | 338 | 1,136 | 1,214 |
Income tax expense | -72 | -52 | -182 | -227 |
Income before equity income | 285 | 286 | 954 | 987 |
Equity income, net of tax | 8 | 6 | 26 | 18 |
Equity in net income (loss) of subsidiaries | 0 | 0 | 0 | 0 |
Net income | 293 | 292 | 980 | 1,005 |
Net income attributable to noncontrolling interest | 22 | 23 | 66 | 64 |
Net loss attributable to Delphi | $271 | $269 | $914 | $941 |
Supplemental_Guarantor_And_Non3
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $293 | $292 | $980 | $1,005 |
Aggregate adjustment for the period | 113 | 82 | -4 | 9 |
Net change in unrecognized gain on derivative instruments, net of tax | 10 | 26 | -29 | 62 |
Employee benefit plans adjustment, net of tax | -5 | -1 | 11 | -2 |
Other comprehensive income (loss) | 118 | 107 | -22 | 69 |
Comprehensive income | 411 | 399 | 958 | 1,074 |
Comprehensive income attributable to noncontrolling interests | 25 | 24 | 69 | 64 |
Comprehensive income attributable to Delphi | 386 | 375 | 889 | 1,010 |
Parent [Member] | ' | ' | ' | ' |
Net income | 271 | 269 | 914 | 941 |
Aggregate adjustment for the period | 0 | 0 | 0 | 0 |
Net change in unrecognized gain on derivative instruments, net of tax | 0 | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Equity in other comprehensive income (loss) of subsidiaries | 115 | 106 | -25 | 69 |
Comprehensive income | 386 | 375 | 889 | 1,010 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Delphi | 386 | 375 | 889 | 1,010 |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Net income | 54 | 49 | 169 | 200 |
Aggregate adjustment for the period | 0 | 0 | 0 | 0 |
Net change in unrecognized gain on derivative instruments, net of tax | 0 | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Equity in other comprehensive income (loss) of subsidiaries | 12 | 26 | -27 | 62 |
Comprehensive income | 66 | 75 | 142 | 262 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Delphi | 66 | 75 | 142 | 262 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Net income | 63 | 61 | 218 | 235 |
Aggregate adjustment for the period | 0 | 0 | 0 | 0 |
Net change in unrecognized gain on derivative instruments, net of tax | 12 | 26 | -27 | 62 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 12 | 26 | -27 | 62 |
Equity in other comprehensive income (loss) of subsidiaries | 0 | 0 | 0 | 0 |
Comprehensive income | 75 | 87 | 191 | 297 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Delphi | 75 | 87 | 191 | 297 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Net income | 286 | 274 | 952 | 905 |
Aggregate adjustment for the period | 113 | 82 | -4 | 9 |
Net change in unrecognized gain on derivative instruments, net of tax | -2 | 0 | -2 | 0 |
Employee benefit plans adjustment, net of tax | -5 | -1 | 11 | -2 |
Other comprehensive income (loss) | 106 | 81 | 5 | 7 |
Equity in other comprehensive income (loss) of subsidiaries | 0 | 0 | 0 | 0 |
Comprehensive income | 392 | 355 | 957 | 912 |
Comprehensive income attributable to noncontrolling interests | 25 | 24 | 69 | 64 |
Comprehensive income attributable to Delphi | 367 | 331 | 888 | 848 |
Intersegment Elimination [Member] | ' | ' | ' | ' |
Net income | -381 | -361 | -1,273 | -1,276 |
Aggregate adjustment for the period | 0 | 0 | 0 | 0 |
Net change in unrecognized gain on derivative instruments, net of tax | 0 | 0 | 0 | 0 |
Employee benefit plans adjustment, net of tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Equity in other comprehensive income (loss) of subsidiaries | -127 | -132 | 52 | -131 |
Comprehensive income | -508 | -493 | -1,221 | -1,407 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Delphi | -508 | -493 | -1,221 | -1,407 |
Consolidated Entities [Member] | ' | ' | ' | ' |
Net income | 293 | 292 | 980 | 1,005 |
Aggregate adjustment for the period | 113 | 82 | -4 | 9 |
Net change in unrecognized gain on derivative instruments, net of tax | 10 | 26 | -29 | 62 |
Employee benefit plans adjustment, net of tax | -5 | -1 | 11 | -2 |
Other comprehensive income (loss) | 118 | 107 | -22 | 69 |
Equity in other comprehensive income (loss) of subsidiaries | 0 | 0 | 0 | 0 |
Comprehensive income | 411 | 399 | 958 | 1,074 |
Comprehensive income attributable to noncontrolling interests | 25 | 24 | 69 | 64 |
Comprehensive income attributable to Delphi | $386 | $375 | $889 | $1,010 |
Supplemental_Guarantor_And_Non4
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Balance Sheet (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||
Cash and Cash Equivalents, at Carrying Value | $1,053 | $1,105 | $1,634 | $1,363 |
Restricted cash | 5 | 8 | ' | ' |
Accounts Receivable, Net, Current | 2,856 | 2,425 | ' | ' |
Inventories, Net | 1,233 | 1,066 | ' | ' |
Other Assets, Current | 640 | 623 | ' | ' |
Total current assets | 5,787 | 5,227 | ' | ' |
Property, net | 2,982 | 2,860 | ' | ' |
Investments in affiliates | 217 | 231 | ' | ' |
Other long-term assets | 598 | 582 | ' | ' |
Total long-term assets | 5,024 | 4,949 | ' | ' |
Total assets | 10,811 | 10,176 | ' | ' |
Short-term debt | 59 | 140 | ' | ' |
Accounts payable | 2,504 | 2,278 | ' | ' |
Accrued liabilities | 1,294 | 1,241 | ' | ' |
Total current liabilities | 3,857 | 3,659 | ' | ' |
Long-term debt | 2,359 | 2,324 | ' | ' |
Pension benefit obligations | 909 | 929 | ' | ' |
Other long-term liabilities | 463 | 434 | ' | ' |
Total long-term liabilities | 3,731 | 3,687 | ' | ' |
Total liabilities | 7,588 | 7,346 | ' | ' |
Total Delphi shareholders' equity | 2,746 | 2,345 | ' | ' |
Noncontrolling interest | 477 | 485 | ' | ' |
Total shareholders' equity | 3,223 | 2,830 | ' | ' |
Total liabilities and shareholders' equity | 10,811 | 10,176 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 16 | 2 | 3 | 53 |
Restricted cash | 0 | 0 | ' | ' |
Accounts Receivable, Net, Current | 0 | 0 | ' | ' |
Inventories, Net | 0 | 0 | ' | ' |
Other Assets, Current | 0 | 0 | ' | ' |
Total current assets | 16 | 2 | ' | ' |
Property, net | 0 | 0 | ' | ' |
Investments in affiliates | 0 | 0 | ' | ' |
Investments in subsidiaries | 4,520 | 3,987 | ' | ' |
Intangible assets, net (Note 2) | 0 | 0 | ' | ' |
Other long-term assets | 5 | 0 | ' | ' |
Total long-term assets | 4,525 | 3,987 | ' | ' |
Total assets | 4,541 | 3,989 | ' | ' |
Short-term debt | 0 | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accrued liabilities | 10 | 0 | ' | ' |
Total current liabilities | 10 | 0 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Intercompany accounts, net | 1,785 | 1,644 | ' | ' |
Pension benefit obligations | 0 | 0 | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' |
Total long-term liabilities | 1,785 | 1,644 | ' | ' |
Total liabilities | 1,795 | 1,644 | ' | ' |
Total Delphi shareholders' equity | 2,746 | 2,345 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total shareholders' equity | 2,746 | 2,345 | ' | ' |
Total liabilities and shareholders' equity | 4,541 | 3,989 | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ' | ' |
Accounts Receivable, Net, Current | 0 | 0 | ' | ' |
Inventories, Net | 0 | 0 | ' | ' |
Other Assets, Current | 10 | 17 | ' | ' |
Total current assets | 10 | 17 | ' | ' |
Property, net | 0 | 0 | ' | ' |
Investments in affiliates | 0 | 0 | ' | ' |
Investments in subsidiaries | 1,642 | 1,663 | ' | ' |
Intangible assets, net (Note 2) | 0 | 0 | ' | ' |
Other long-term assets | 46 | 55 | ' | ' |
Total long-term assets | 1,688 | 1,718 | ' | ' |
Total assets | 1,698 | 1,735 | ' | ' |
Short-term debt | 22 | 31 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accrued liabilities | 28 | 10 | ' | ' |
Total current liabilities | 50 | 41 | ' | ' |
Long-term debt | 2,346 | 2,308 | ' | ' |
Intercompany accounts, net | -663 | -537 | ' | ' |
Pension benefit obligations | 0 | 0 | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' |
Total long-term liabilities | 1,683 | 1,771 | ' | ' |
Total liabilities | 1,733 | 1,812 | ' | ' |
Total Delphi shareholders' equity | -35 | -77 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total shareholders' equity | -35 | -77 | ' | ' |
Total liabilities and shareholders' equity | 1,698 | 1,735 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 68 | 118 | 201 | 186 |
Restricted cash | 0 | 0 | ' | ' |
Accounts Receivable, Net, Current | 822 | 641 | ' | ' |
Inventories, Net | 367 | 308 | ' | ' |
Other Assets, Current | 176 | 141 | ' | ' |
Total current assets | 1,433 | 1,208 | ' | ' |
Property, net | 645 | 592 | ' | ' |
Investments in affiliates | 0 | 0 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Intangible assets, net (Note 2) | 356 | 390 | ' | ' |
Other long-term assets | 40 | 44 | ' | ' |
Total long-term assets | 1,041 | 1,026 | ' | ' |
Total assets | 2,474 | 2,234 | ' | ' |
Short-term debt | 23 | 23 | ' | ' |
Accounts payable | 693 | 578 | ' | ' |
Accrued liabilities | 163 | 221 | ' | ' |
Total current liabilities | 879 | 822 | ' | ' |
Long-term debt | 2 | 2 | ' | ' |
Intercompany accounts, net | 964 | 755 | ' | ' |
Pension benefit obligations | 66 | 73 | ' | ' |
Other long-term liabilities | 229 | 192 | ' | ' |
Total long-term liabilities | 1,261 | 1,022 | ' | ' |
Total liabilities | 2,140 | 1,844 | ' | ' |
Total Delphi shareholders' equity | 334 | 390 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total shareholders' equity | 334 | 390 | ' | ' |
Total liabilities and shareholders' equity | 2,474 | 2,234 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 969 | 985 | 1,430 | 1,124 |
Restricted cash | 5 | 8 | ' | ' |
Accounts Receivable, Net, Current | 2,034 | 1,784 | ' | ' |
Inventories, Net | 876 | 764 | ' | ' |
Other Assets, Current | 463 | 465 | ' | ' |
Total current assets | 4,347 | 4,006 | ' | ' |
Property, net | 2,337 | 2,268 | ' | ' |
Investments in affiliates | 217 | 231 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Intangible assets, net (Note 2) | 871 | 886 | ' | ' |
Other long-term assets | 505 | 481 | ' | ' |
Total long-term assets | 3,930 | 3,866 | ' | ' |
Total assets | 8,277 | 7,872 | ' | ' |
Short-term debt | 14 | 86 | ' | ' |
Accounts payable | 1,811 | 1,700 | ' | ' |
Accrued liabilities | 1,101 | 1,010 | ' | ' |
Total current liabilities | 2,926 | 2,796 | ' | ' |
Long-term debt | 11 | 14 | ' | ' |
Intercompany accounts, net | -2,086 | -1,862 | ' | ' |
Pension benefit obligations | 843 | 856 | ' | ' |
Other long-term liabilities | 234 | 242 | ' | ' |
Total long-term liabilities | -998 | -750 | ' | ' |
Total liabilities | 1,928 | 2,046 | ' | ' |
Total Delphi shareholders' equity | 5,872 | 5,341 | ' | ' |
Noncontrolling interest | 477 | 485 | ' | ' |
Total shareholders' equity | 6,349 | 5,826 | ' | ' |
Total liabilities and shareholders' equity | 8,277 | 7,872 | ' | ' |
Intersegment Elimination [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ' | ' |
Accounts Receivable, Net, Current | 0 | 0 | ' | ' |
Inventories, Net | -10 | -6 | ' | ' |
Other Assets, Current | -9 | 0 | ' | ' |
Total current assets | -19 | -6 | ' | ' |
Property, net | 0 | 0 | ' | ' |
Investments in affiliates | 0 | 0 | ' | ' |
Investments in subsidiaries | -6,162 | -5,650 | ' | ' |
Intangible assets, net (Note 2) | 0 | 0 | ' | ' |
Other long-term assets | 2 | 2 | ' | ' |
Total long-term assets | -6,160 | -5,648 | ' | ' |
Total assets | -6,179 | -5,654 | ' | ' |
Short-term debt | 0 | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accrued liabilities | -8 | 0 | ' | ' |
Total current liabilities | -8 | 0 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Intercompany accounts, net | 0 | 0 | ' | ' |
Pension benefit obligations | 0 | 0 | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' |
Total long-term liabilities | 0 | 0 | ' | ' |
Total liabilities | -8 | 0 | ' | ' |
Total Delphi shareholders' equity | -6,171 | -5,654 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total shareholders' equity | -6,171 | -5,654 | ' | ' |
Total liabilities and shareholders' equity | -6,179 | -5,654 | ' | ' |
Consolidated Entities [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 1,053 | 1,105 | 1,634 | 1,363 |
Restricted cash | 5 | 8 | ' | ' |
Accounts Receivable, Net, Current | 2,856 | 2,425 | ' | ' |
Inventories, Net | 1,233 | 1,066 | ' | ' |
Other Assets, Current | 640 | 623 | ' | ' |
Total current assets | 5,787 | 5,227 | ' | ' |
Property, net | 2,982 | 2,860 | ' | ' |
Investments in affiliates | 217 | 231 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Intangible assets, net (Note 2) | 1,227 | 1,276 | ' | ' |
Other long-term assets | 598 | 582 | ' | ' |
Total long-term assets | 5,024 | 4,949 | ' | ' |
Total assets | 10,811 | 10,176 | ' | ' |
Short-term debt | 59 | 140 | ' | ' |
Accounts payable | 2,504 | 2,278 | ' | ' |
Accrued liabilities | 1,294 | 1,241 | ' | ' |
Total current liabilities | 3,857 | 3,659 | ' | ' |
Long-term debt | 2,359 | 2,324 | ' | ' |
Intercompany accounts, net | 0 | 0 | ' | ' |
Pension benefit obligations | 909 | 929 | ' | ' |
Other long-term liabilities | 463 | 434 | ' | ' |
Total long-term liabilities | 3,731 | 3,687 | ' | ' |
Total liabilities | 7,588 | 7,346 | ' | ' |
Total Delphi shareholders' equity | 2,746 | 2,345 | ' | ' |
Noncontrolling interest | 477 | 485 | ' | ' |
Total shareholders' equity | 3,223 | 2,830 | ' | ' |
Total liabilities and shareholders' equity | $10,811 | $10,176 | ' | ' |
Supplemental_Guarantor_And_Non5
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Cash Flows (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Net cash provided by (used in) operating activities | $1,070 | $1,168 |
Capital expenditures | -512 | -563 |
Proceeds from sale of property and investments | 24 | 18 |
Cost of business and technology acquisitions, net of cash acquired | -10 | 0 |
Decrease (increase) in restricted cash | 3 | -2 |
Acquisition of minority held shares | 0 | -16 |
Dividends from equity method investments in excess of earnings | 0 | 37 |
Net cash used in investing activities | -495 | -526 |
Net repayments under other short-term debt agreements | -79 | -16 |
Repayment under long-term debt agreements | -1,349 | 0 |
Proceeds from issuance of senior secured loans, net of issuance costs | 560 | -5 |
Proceeds from issuance of senior notes, net of issuance costs | 788 | 0 |
Payments of ordinary dividends, non controlling interest | -26 | -39 |
Repurchase of ordinary shares | -353 | -300 |
Distribution of cash dividends | -159 | 0 |
Taxes withheld and paid on employees' restricted share awards | -14 | 0 |
Net cash used in financing activities | -632 | -360 |
Effect of exchange rate fluctuations on cash and cash equivalents | 5 | -11 |
(Decrease) increase in cash and cash equivalents | -52 | 271 |
Cash and cash equivalents at beginning of period | 1,105 | 1,363 |
Cash and cash equivalents at end of period | 1,053 | 1,634 |
Parent [Member] | ' | ' |
Net cash provided by (used in) operating activities | -188 | -34 |
Capital expenditures | 0 | 0 |
Proceeds from sale of property and investments | 0 | 0 |
Cost of business and technology acquisitions, net of cash acquired | 0 | ' |
Decrease (increase) in restricted cash | 0 | 0 |
Acquisition of minority held shares | ' | 0 |
Dividends from equity method investments in excess of earnings | ' | 0 |
Net cash used in investing activities | 0 | 0 |
Net repayments under other short-term debt agreements | 0 | 0 |
Repayment under long-term debt agreements | 0 | ' |
Proceeds from issuance of senior secured loans, net of issuance costs | 0 | 0 |
Proceeds from issuance of senior notes, net of issuance costs | 0 | ' |
Payments of ordinary dividends, non controlling interest | 0 | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 714 | 284 |
Repurchase of ordinary shares | -353 | -300 |
Distribution of cash dividends | -159 | ' |
Taxes withheld and paid on employees' restricted share awards | 0 | ' |
Net cash used in financing activities | 202 | -16 |
Effect of exchange rate fluctuations on cash and cash equivalents | 0 | 0 |
(Decrease) increase in cash and cash equivalents | 14 | -50 |
Cash and cash equivalents at beginning of period | 2 | 53 |
Cash and cash equivalents at end of period | 16 | 3 |
Subsidiary Issuer [Member] | ' | ' |
Net cash provided by (used in) operating activities | 0 | 0 |
Capital expenditures | 0 | 0 |
Proceeds from sale of property and investments | 0 | 0 |
Cost of business and technology acquisitions, net of cash acquired | 0 | ' |
Decrease (increase) in restricted cash | 0 | 0 |
Acquisition of minority held shares | ' | 0 |
Dividends from equity method investments in excess of earnings | ' | 0 |
Net cash used in investing activities | 0 | 0 |
Net repayments under other short-term debt agreements | 0 | 0 |
Repayment under long-term debt agreements | -1,349 | ' |
Proceeds from issuance of senior secured loans, net of issuance costs | 560 | -5 |
Proceeds from issuance of senior notes, net of issuance costs | 788 | ' |
Payments of ordinary dividends, non controlling interest | 0 | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 1 | 5 |
Repurchase of ordinary shares | 0 | 0 |
Distribution of cash dividends | 0 | ' |
Taxes withheld and paid on employees' restricted share awards | 0 | ' |
Net cash used in financing activities | 0 | 0 |
Effect of exchange rate fluctuations on cash and cash equivalents | 0 | 0 |
(Decrease) increase in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 |
Guarantor Subsidiaries [Member] | ' | ' |
Net cash provided by (used in) operating activities | 366 | 461 |
Capital expenditures | -147 | -159 |
Proceeds from sale of property and investments | 1 | 2 |
Cost of business and technology acquisitions, net of cash acquired | 0 | ' |
Decrease (increase) in restricted cash | 0 | 0 |
Acquisition of minority held shares | ' | 0 |
Dividends from equity method investments in excess of earnings | ' | 0 |
Net cash used in investing activities | -146 | -157 |
Net repayments under other short-term debt agreements | 0 | 0 |
Repayment under long-term debt agreements | 0 | ' |
Proceeds from issuance of senior secured loans, net of issuance costs | 0 | 0 |
Proceeds from issuance of senior notes, net of issuance costs | 0 | ' |
Payments of ordinary dividends, non controlling interest | 0 | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | -257 | -289 |
Repurchase of ordinary shares | 0 | 0 |
Distribution of cash dividends | 0 | ' |
Taxes withheld and paid on employees' restricted share awards | -13 | ' |
Net cash used in financing activities | -270 | -289 |
Effect of exchange rate fluctuations on cash and cash equivalents | 0 | 0 |
(Decrease) increase in cash and cash equivalents | -50 | 15 |
Cash and cash equivalents at beginning of period | 118 | 186 |
Cash and cash equivalents at end of period | 68 | 201 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Net cash provided by (used in) operating activities | 892 | 741 |
Capital expenditures | -365 | -404 |
Proceeds from sale of property and investments | 23 | 16 |
Cost of business and technology acquisitions, net of cash acquired | -10 | ' |
Decrease (increase) in restricted cash | 3 | -2 |
Acquisition of minority held shares | ' | -16 |
Dividends from equity method investments in excess of earnings | ' | 37 |
Net cash used in investing activities | -349 | -369 |
Net repayments under other short-term debt agreements | -79 | -16 |
Repayment under long-term debt agreements | 0 | ' |
Proceeds from issuance of senior secured loans, net of issuance costs | 0 | 0 |
Proceeds from issuance of senior notes, net of issuance costs | 0 | ' |
Payments of ordinary dividends, non controlling interest | -26 | -39 |
Intercompany dividends and net increase (decrease) in intercompany obligations | -458 | 0 |
Repurchase of ordinary shares | 0 | 0 |
Distribution of cash dividends | 0 | ' |
Taxes withheld and paid on employees' restricted share awards | -1 | ' |
Net cash used in financing activities | -564 | -55 |
Effect of exchange rate fluctuations on cash and cash equivalents | 5 | -11 |
(Decrease) increase in cash and cash equivalents | -16 | 306 |
Cash and cash equivalents at beginning of period | 985 | 1,124 |
Cash and cash equivalents at end of period | 969 | 1,430 |
Intersegment Elimination [Member] | ' | ' |
Net cash provided by (used in) operating activities | 0 | 0 |
Capital expenditures | 0 | 0 |
Proceeds from sale of property and investments | 0 | 0 |
Cost of business and technology acquisitions, net of cash acquired | 0 | ' |
Decrease (increase) in restricted cash | 0 | 0 |
Acquisition of minority held shares | ' | 0 |
Dividends from equity method investments in excess of earnings | ' | 0 |
Net cash used in investing activities | 0 | 0 |
Net repayments under other short-term debt agreements | 0 | 0 |
Repayment under long-term debt agreements | 0 | ' |
Proceeds from issuance of senior secured loans, net of issuance costs | 0 | 0 |
Proceeds from issuance of senior notes, net of issuance costs | 0 | ' |
Payments of ordinary dividends, non controlling interest | 0 | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 0 | 0 |
Repurchase of ordinary shares | 0 | 0 |
Distribution of cash dividends | 0 | ' |
Taxes withheld and paid on employees' restricted share awards | 0 | ' |
Net cash used in financing activities | 0 | 0 |
Effect of exchange rate fluctuations on cash and cash equivalents | 0 | 0 |
(Decrease) increase in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 |
Consolidated Entities [Member] | ' | ' |
Net cash provided by (used in) operating activities | 1,070 | 1,168 |
Capital expenditures | -512 | -563 |
Proceeds from sale of property and investments | 24 | 18 |
Cost of business and technology acquisitions, net of cash acquired | -10 | ' |
Decrease (increase) in restricted cash | 3 | -2 |
Acquisition of minority held shares | ' | -16 |
Dividends from equity method investments in excess of earnings | ' | 37 |
Net cash used in investing activities | -495 | -526 |
Net repayments under other short-term debt agreements | -79 | -16 |
Repayment under long-term debt agreements | -1,349 | ' |
Proceeds from issuance of senior secured loans, net of issuance costs | 560 | -5 |
Proceeds from issuance of senior notes, net of issuance costs | 788 | ' |
Payments of ordinary dividends, non controlling interest | -26 | -39 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 0 | 0 |
Repurchase of ordinary shares | -353 | -300 |
Distribution of cash dividends | -159 | ' |
Taxes withheld and paid on employees' restricted share awards | -14 | ' |
Net cash used in financing activities | -632 | -360 |
Effect of exchange rate fluctuations on cash and cash equivalents | 5 | -11 |
(Decrease) increase in cash and cash equivalents | -52 | 271 |
Cash and cash equivalents at beginning of period | 1,105 | 1,363 |
Cash and cash equivalents at end of period | $1,053 | $1,634 |
Segment_Reporting_Reconciliati
Segment Reporting Reconciliation of Sales and Operating Data (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Sales and Operating Data from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Net sales | $4,017 | $3,663 | $12,281 | $11,752 | ||||
EBITDA | 525 | 480 | 1,668 | 1,639 | ||||
Adjusted EBITDA | 566 | 483 | 1,773 | 1,656 | ||||
Depreciation and Amortization | 138 | 113 | 401 | 340 | ||||
Operating income | 387 | 367 | 1,267 | 1,299 | ||||
Equity income, net of tax | 8 | 6 | 26 | 18 | ||||
Net income attributable to noncontrolling interest | 22 | 23 | 66 | 64 | ||||
Electrical / Electronic Architecture [Member] | ' | ' | ' | ' | ||||
Sales and Operating Data from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Net sales | 1,956 | 1,607 | 5,921 | 5,049 | ||||
EBITDA | 298 | 210 | 883 | 708 | ||||
Adjusted EBITDA | 309 | 211 | 919 | 714 | ||||
Depreciation and Amortization | 61 | 39 | 174 | 112 | ||||
Operating income | 237 | 171 | 709 | 596 | ||||
Equity income, net of tax | 4 | 5 | 11 | 14 | ||||
Net income attributable to noncontrolling interest | 11 | 10 | 31 | 28 | ||||
Powertrain Systems [Member] | ' | ' | ' | ' | ||||
Sales and Operating Data from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Net sales | 1,048 | 1,087 | 3,316 | 3,597 | ||||
EBITDA | 134 | 169 | 474 | 571 | ||||
Adjusted EBITDA | 142 | 169 | 494 | 575 | ||||
Depreciation and Amortization | 48 | 44 | 140 | 134 | ||||
Operating income | 86 | 125 | 334 | 437 | ||||
Equity income, net of tax | 1 | -1 | 4 | 0 | ||||
Net income attributable to noncontrolling interest | 6 | 8 | 22 | 24 | ||||
Electronics And Safety [Member] | ' | ' | ' | ' | ||||
Sales and Operating Data from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Net sales | 705 | 648 | 2,123 | 2,092 | ||||
EBITDA | 81 | 78 | 253 | 269 | ||||
Adjusted EBITDA | 100 | 79 | 297 | 272 | ||||
Depreciation and Amortization | 19 | 20 | 55 | 62 | ||||
Operating income | 62 | 58 | 198 | 207 | ||||
Equity income, net of tax | 0 | 0 | 0 | 0 | ||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | 0 | ||||
Thermal Systems [Member] | ' | ' | ' | ' | ||||
Sales and Operating Data from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Net sales | 364 | 374 | 1,097 | 1,192 | ||||
EBITDA | 12 | 23 | 58 | 91 | ||||
Adjusted EBITDA | 15 | 24 | 63 | 95 | ||||
Depreciation and Amortization | 10 | 10 | 32 | 32 | ||||
Operating income | 2 | 13 | 26 | 59 | ||||
Equity income, net of tax | 4 | 3 | 12 | 7 | ||||
Net income attributable to noncontrolling interest | 5 | 5 | 13 | 12 | ||||
Eliminations And Other [Member] | ' | ' | ' | ' | ||||
Sales and Operating Data from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ||||
Net sales | -56 | [1] | -53 | [1] | -176 | [1] | -178 | [1] |
EBITDA | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Adjusted EBITDA | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Depreciation and Amortization | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Operating income | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Equity income, net of tax | -1 | [1] | -1 | [1] | -1 | [1] | -3 | [1] |
Net income attributable to noncontrolling interest | $0 | [1] | $0 | [1] | $0 | [1] | $0 | [1] |
[1] | (1)Eliminations and Other includes the elimination of inter-segment transactions. |
Segment_Reporting_Reconciliati1
Segment Reporting Reconciliation of Adjusted EBITDA to Net Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
EBITDA to Net Income Data [Line Items] | ' | ' | ' | ' | ||||
Adjusted EBITDA | $566 | $483 | $1,773 | $1,656 | ||||
Restructuring | -37 | -3 | -95 | -17 | ||||
Other acquisition-related costs | -4 | ' | -10 | ' | ||||
EBITDA | 525 | 480 | 1,668 | 1,639 | ||||
Depreciation and amortization | -138 | -113 | -401 | -340 | ||||
Operating income | 387 | 367 | 1,267 | 1,299 | ||||
Interest expense | -34 | -32 | -106 | -100 | ||||
Other income (expense), net | 4 | 3 | -25 | 15 | ||||
Income before income taxes and equity income | 357 | 338 | 1,136 | 1,214 | ||||
Income tax benefit (expense) | -72 | -52 | -182 | -227 | ||||
Equity income, net of tax | 8 | 6 | 26 | 18 | ||||
Net income | 293 | 292 | 980 | 1,005 | ||||
Net income attributable to noncontrolling interest | 22 | 23 | 66 | 64 | ||||
Net loss attributable to Delphi | 271 | 269 | 914 | 941 | ||||
Electrical / Electronic Architecture [Member] | ' | ' | ' | ' | ||||
EBITDA to Net Income Data [Line Items] | ' | ' | ' | ' | ||||
Adjusted EBITDA | 309 | 211 | 919 | 714 | ||||
Restructuring | -7 | -1 | -26 | -6 | ||||
Other acquisition-related costs | -4 | ' | -10 | ' | ||||
EBITDA | 298 | 210 | 883 | 708 | ||||
Depreciation and amortization | -61 | -39 | -174 | -112 | ||||
Operating income | 237 | 171 | 709 | 596 | ||||
Equity income, net of tax | 4 | 5 | 11 | 14 | ||||
Net income attributable to noncontrolling interest | 11 | 10 | 31 | 28 | ||||
Powertrain Systems [Member] | ' | ' | ' | ' | ||||
EBITDA to Net Income Data [Line Items] | ' | ' | ' | ' | ||||
Adjusted EBITDA | 142 | 169 | 494 | 575 | ||||
Restructuring | -8 | 0 | -20 | -4 | ||||
Other acquisition-related costs | 0 | ' | 0 | ' | ||||
EBITDA | 134 | 169 | 474 | 571 | ||||
Depreciation and amortization | -48 | -44 | -140 | -134 | ||||
Operating income | 86 | 125 | 334 | 437 | ||||
Equity income, net of tax | 1 | -1 | 4 | 0 | ||||
Net income attributable to noncontrolling interest | 6 | 8 | 22 | 24 | ||||
Electronics And Safety [Member] | ' | ' | ' | ' | ||||
EBITDA to Net Income Data [Line Items] | ' | ' | ' | ' | ||||
Adjusted EBITDA | 100 | 79 | 297 | 272 | ||||
Restructuring | -19 | -1 | -44 | -3 | ||||
Other acquisition-related costs | 0 | ' | 0 | ' | ||||
EBITDA | 81 | 78 | 253 | 269 | ||||
Depreciation and amortization | -19 | -20 | -55 | -62 | ||||
Operating income | 62 | 58 | 198 | 207 | ||||
Equity income, net of tax | 0 | 0 | 0 | 0 | ||||
Net income attributable to noncontrolling interest | 0 | 0 | 0 | 0 | ||||
Thermal Systems [Member] | ' | ' | ' | ' | ||||
EBITDA to Net Income Data [Line Items] | ' | ' | ' | ' | ||||
Adjusted EBITDA | 15 | 24 | 63 | 95 | ||||
Restructuring | -3 | -1 | -5 | -4 | ||||
Other acquisition-related costs | 0 | ' | 0 | ' | ||||
EBITDA | 12 | 23 | 58 | 91 | ||||
Depreciation and amortization | -10 | -10 | -32 | -32 | ||||
Operating income | 2 | 13 | 26 | 59 | ||||
Equity income, net of tax | 4 | 3 | 12 | 7 | ||||
Net income attributable to noncontrolling interest | 5 | 5 | 13 | 12 | ||||
Eliminations And Other [Member] | ' | ' | ' | ' | ||||
EBITDA to Net Income Data [Line Items] | ' | ' | ' | ' | ||||
Adjusted EBITDA | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Restructuring | 0 | 0 | 0 | 0 | ||||
Other acquisition-related costs | 0 | ' | 0 | ' | ||||
EBITDA | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Depreciation and amortization | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Operating income | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Equity income, net of tax | -1 | [1] | -1 | [1] | -1 | [1] | -3 | [1] |
Net income attributable to noncontrolling interest | $0 | [1] | $0 | [1] | $0 | [1] | $0 | [1] |
[1] | (1)Eliminations and Other includes the elimination of inter-segment transactions. |