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 | |
|
| | | | | | | | | | | | | | | | | | | | | | | | | |